Mobster sentenced for dockworker extortion Stephen Depiro, a soldier within the Genovese organised crime family, was sentenced to 41 months in prison for extorting payments from fellow dockworkers on the New Jersey waterfront. He was also ordered to serve three years of supervised release by US district judge Claire Cecchi Newark, New
Hapag-Lloyd signs 10,500 teu newbuilding series German container line Hapag-Lloyd plans to bring a new string of 10,500 teu container vessels to the East Coast South America (ECSA) trades by 2017. The Hamburg-based carrier today announced the signing of a newbuilding contract for five such vessels with Korean builder Hyundai Samho Heavy
Royal Caribbean cuts 2015 profit outlook Shares of Royal Caribbean Cruises fell sharply after the cruise company reduced its 2015 profit outlook, citing rising fuel prices and a strong US dollar. The company reported net income of USD45.2 million for 1Q15, up from USD26.5 million in 1Q14. However, adjusted net income was USD45.2 million
New ClassNK research centre to promote smarter and greener shipping The maritime industry has two main challenges today, says Japanese classification society ClassNK, and its new research centre in Singapore aims to address both. The society has opened the Global Research and Innovation Centre (GRIC) to join industry, academia, and government agencies in Singapore
Arkon rejigs heavy lift and bulk chartering German shipbroker and operator Arkon Shipping & Projects is restructuring its deepsea dry cargo operations. The company's heavy lift chartering services are being relocated to Hamburg where they will be integrated with newly established operator United Heavy Lift. The latter has been nominated as
LR Rail sold to Ricardo for $63.5m Lloyd's Register Group has sold its rail division, LR Rail, to global strategic, technical, and environmental consultancy Ricardo plc for GBP42.5 million (USD63.5 million). The buyout was announced by LR's adviser on the sale, Livingstone Business Services. LR Rail is an international specialist
China eases cabotage rules for five more ports Five more Chinese ports can now allow access to overseas-flagged vessels entering China's cabotage box shipping trade. Tianjin port; Jiangyin Port Area in Fuzhou; Haicang Port Area in Xiamen; Mawan, Chiwan, and Shekou port areas in West Shenzhen port; and Nansha port in Guangzhou all now have the
Wan Hai opens new trans-Pacific services Taiwanese carrier Wan Hai has announced that it will jointly operate a trans-Pacific service, called SEA service, from South China to the US Pacific Southwest with COSCO Container Lines and 'K' Line. It will also operate a trans-Pacific service from Central China to US Pacific Southwest with 'K'
Sewol protest turns violent South Korean riot police were compelled to spray pepper and fire water cannons at protesters demanding a more forceful response from the government to the Sewol ferry disaster that left more than 300 dead or missing. Just days after commemorating the first anniversary of the disaster on 16 April,
Nanjing Tanker predicts return to the black Nanjing Tanker predicted it would return to the black in the first half of 2015 due to reduction in finance cost, lower bunker fuel cost, and a recovery in the oil shipping market. Revenue would also grow in the first half of 2015, according to a stock filing of Nanjing Tanker. In the first half of
MPA signs MOU with Port of Rotterdam Authority The Maritime and Port Authority of Singapore (MPA) has signed a Memorandum of Understanding (MOU) with the Netherlands-based Port of Rotterdam Authority on 20 April. The MOU calls for the exchange of marine services information and a joint collaboration in research and development (R&D) projects.
Nanjing Port's profit up 27.9% in 2014 Shenzhen-listed Nanjing Port Group on 18 April reported a profit of CNY24.14 million (USD3.89 million) for 2014, rising 27.9% year on year (y/y). The port recorded revenue of CNY150.3 million last year, down by 11.28% y/y, and handled a total of 12.71 million tonnes of cargo in 2014, an increase of
Influx of Capesizes to weaken ship scrap prices Ship scrap prices in South Asia are set to go down again as increasing number of owners are recycling Capesize bulkers. Amid the ongoing downturn in the freight market, owners are choosing to recycle more of their older Capesizes to minimise losses. However, with more ships being offered to cash
Hong Kong dredging begins Dredging operations has commenced at Hong Kong's Hung Hom Fairway, and will be carried out for a period of approximately one month until mid-May, a notice from the Hong Kong Marine Department said. The dredging works are within the area bounded by straight lines joining the following co-ordinates
Hapag-Lloyd joins Shenzhen Green Convention German carrier Hapag-Lloyd announced last week that it voluntarily joined the Green Convention of Port of Shenzhen in China to cut sulphur oxide emissions. The carrier promises to use fuel with a sulphur content of less than 0.5% while its ships are docked at the terminal, according to the
Noble gets shareholders' approval on its accounts Singapore-listed energy and commodities trading firm Noble Group has received the approval of its shareholders on the company's accounts in its 2015 annual general meeting. The annual general meeting was held on 17 April, where a voting poll was conducted on the resolutions presented to the
CCS awards approval in principal to MAN's medium-speed engine MAN Diesel & Turbo SE (MDT) has been awarded an approval in principle for its selective catalytic reduction (SCR) system for its entire medium-speed engine portfolio, which fulfils IMO Tier III regulations, by the China Classification Society (CCS). Testing took place on an MAN 8L21/31 auxiliary
Abbot Point expansion to create jobs Thousands of jobs could be created if Abbot Point, Australia's northernmost deepwater coal port located 25 km north of Bowen, Queensland, is expanded. The referral to expand the port has been handed to federal environment minister Greg Hunt, who is tasked to perform due diligence before approving
Hapag-Lloyd orders 10,500 teu quintet for South American trades German line focuses on north-south trades after CSAV merger
Neptune buys Vroon car carrier duo Expanding Greek operator expects to transport more than 1m units for the first time this year
ICS slates 'fanciful' claims by environmentalists that ship designs have not improved T&E and Seas at Risk conclusions from CE Delft report are selective and unhelpful, says the International Chamber of Shipping
Top maritime regulators prepare for second summit to review box line alliances Update: Competition authorities from the US, Europe and China to get together in coming weeks to review changing industry landscape
VLGC daily spot earnings forecast to hit more than $80,000 in coming days Such good spot market earnings make owners reluctant to sign longer-term charters
China's state-owned shipping giants seek to shoot down merger talks China Cosco, CSCL and CMES says no consolidation between them and Sinotrans & CSC has been initiated
MOL, APL and NYK launch joint Asia-Latin America service Route features transit between Hong Kong and Mexico in 17 days
Stena seals three-year charter for its LNG carrier Stena Blue Sky Vessel will carry cargoes out of Australia's North West Shelf project, as that country makes a big impact this year on new cargo supply
Nakilat profit rises amid focus on long-term charter contracts for Qatargas and RasGas Qatari LNG giant avoids vagaries of spot market, reflected by profit rise in first quarter
Name-calling bullies NGO Shipbreaking Platform activists fail to give credit to practical measures that are already being taken to improve the industry
C.H. Robinson expands in Vietnam, Belgium Third-party logistics provider C.H. Robinson Worldwide has opened the doors at two new global forwarding offices: one in Ho Chi Minh City and another in Antwerp. The company has had a presence in Vietnam since 2009, when it opened its first office in the capital city there, designed to serve as...
International shipping warned against fragmented rules The chairman of the International Chamber of Shipping warned that regional maritime regulations on ships' emissions and ballast-water discharges threaten conflicts with global maritime rules. "Global rules for a global shipping industry is not just a slogan," ICS Chairman Masamichi Morooka said in a speech to the Singapore Shipping Association. Morooka criticized...
US moving slowly toward mandate limiting truck speeds WASHINGTON, D.C. -- The largest U.S. trucking lobbying organization wants federal regulators to speed up efforts to slow trucks down. The American Trucking Associations urged the Department of Transportation to move forward with a rulemaking that would require electronic speed limiters on all large trucks. That rulemaking, aimed at improving highway safety,...
Hapag-Lloyd orders 10,500-TEU ships for South America trades The slowdown in South American economies isn't stopping container lines from beefing up their services to the continent, with Hapag-Lloyd being the latest, ordering five containers ships with capacities of 10,500 TEUs each for the market. To be constructed by Korean shipyard Hyundai Samho Industries, the ships on order are aimed...
TOTE launches first LNG-powered container ship The first container ship designed to run on natural gas has been launched at General Dynamics NASSCO in San Diego for operation by Sea Star Line in the U.S. mainland-Puerto Rico trade. The Isla Bella is the first of two Marlin-class vessels ordered by Seattle-based TOTE Shipholdings Inc. The ships have...
JOC economist: US containerized exports to South America to decline U.S. containerized exports to the east coast of South America will shrink in 2015 by 2.4 percent from the prior year, thanks to unfavorable exchange rates between the Brazilian real and dollar, and subdued demand from Latin America's biggest economic engine. Click to enlargeSouthbound shipments to the east coast of South...
Seattle, Tacoma port volumes surge as terminals recover from backlog Container volumes at the Seattle-Tacoma gateway in March surged by 21 percent compared to March 2014, demonstrating that the Pacific Northwest ports are quickly recovering from the port congestion that accompanied four months of work slowdowns. Click to enlargeIn a joint statement, the ports of Seattle and Tacoma stated that the...
Hit Rail and Raildata agree on cooperation to bring enhanced services to railway undertakings and freight users across Europe New interoperability benefits as European railway landscape is transformed by EU liberalisation measures and the introduction of telematic interoperability legislation (TAF/TAP TSI) Utrecht/Basel 20 April 2015 - Hit Rail b.v. and Raildata, two of Europe's leading railway organisations in the promotion of interoperability and cooperation between railways across borders, have signed...
TransForce, Inc. Acquires Davis Transportation Services in New England ALEXANDRIA, Va., April 19, 2015 /PRNewswire/ -- TransForce, Inc. the nation's leading staffing firm specializing in quality commercial truck drivers, has acquired the assets of Davis Transportation Services (DTS). DTS is a leading regional provider of high-quality commercial truck drivers serving New England with offices in Boston and Springfield, Massachusetts. DTS...
Lithium Battery Shipments Face Challenges as Regulators and Airlines Impose Additional Restrictions By Bob Richard, Vice President of Regulatory Affairs for Labelmaster There have been a number of recent news media accounts related to the transport of lithium batteries aboard aircraft. While the air transport of lithium cells and batteries is fundamentally safe, there have been occurrences that should raise concern. Almost all of...
Global container leasing recovery hinges on trade rebound A full recovery for the world container market is still a long time out, providing little short-term hope to the container lessing sector, say analysts at Drewry Maritime Research. According to the London-based group, the value of equity market participants - which include Textainer Group Holdings , TAL International and CAI International...
ABS Appoints New Chief Technology Officer (Houston) ABS, the leading provider of classification services to the global marine and offshore industries, announces the appointment of Howard Fireman to the position of Senior Vice President and Chief Technology Officer (CTO) in a move that strengthens alignment and generates further synergies across all of ABS' technical programs. Fireman, who will...
UASC now calling DP World London Gateway Port London, UK, Monday 20 April 2015: United Arab Shipping Company (UASC) has started services to London Gateway on the South America 2 service (SAM2). The UASC offering is part of an existing fixed day weekly service from DP World London Gateway calling at leading ports in Brazil, Argentina and Uruguay. The...
UASC now calling DP World London Gateway Port London, UK, Monday 20 April 2015: United Arab Shipping Company (UASC) has started services to London Gateway on the South America 2 service (SAM2). The UASC offering is part of an existing fixed day weekly service from DP World London Gateway calling at leading ports in Brazil, Argentina and Uruguay. The...
India misses fiscal 2014 export target after March volume fell In a major setback for the new Narendra Modi-led Indian government's aggressive effort to rev up the economy, the nation's merchandise exports for fiscal year 2014-15, which ended March 31, fell far short of the targeted $340 billion, according to preliminary trade figures released by the Ministry of Commerce and...
Five more Chinese ports get OK to receive foreign-flag cabotage services The sailing of Cosco Surabaya in late December marked the beginning of the easing of China's cabotage restrictions for foreign-flag carriers.Five more Chinese ports can now allow foreign-flag vessels to provide cabotage services to their container terminals. Tianjin port; Jiangyin Port Area in Fuzhou; Haicang Port Area in Xiamen; Mawan, Chiwan,...
Kerry Logistics jumps aboard China's trade strategy train HONG KONG - Kerry Logistics has formed a strategic partnership with China's state-owned rail operator as it begins to tap into Beijing's One Belt One Road national trade strategy that was announced in March.Kerry Logistics (China) signed an agreement with China Railway Import and Export Company, a foreign trade-focused unit...
Polsteam bulker grounds A Polish Steamship (Polsteam) bulker was taking on water and listing today after running aground in the St Lawrence River.
Baltic litigation 'commenced' A law firm says it "has commenced" a class action lawsuit against the board of Baltic Trading over its proposed merger deal with Genco Shipping & Trading.
Trio launch ASA service Liner operators APL, Mitsui OSK Lines and NYK Line have announced the creation of a new 6,000-teu containership loop linking Asia with key ports in Mexico, Colombia and Panama.
Kite flies Eagle nest Eagle Bulk Shipping is said to have sold off the oldest bulker in its fleet.
Siem gives Daya time Siem Offshore has extended the deadline for the termination of an agreement with Daya Materials for the sale of two subsea construction vessels (OSCV).
Venezuela's new formula Venezuela is considering importing lighter African crudes to blend with its heavier grades in a bit to compete with US and Canadian supplies.
Hapag confirms quintet Germany's Hapag-Lloyd has clinched a new order for five 10,500 boxships to boost its South American operations.
A new bellwether? A merger of Teekay Tankers and AET would amass a tanker fleet to surpass Wall Street bellwether Euronav, Wells Fargo says.
RCCL ahead in Q1 Royal Caribbean Cruises Ltd (RCCL) has kept its growth project on track by recording a "stronger than expected" performance for the first quarter of the year.
JMU scoops $291m order Japan Marine United (JMU) is to build 10 multi-purpose ships for the Philippine Coast Guard (PCG).
Battery ro-pax readied Denmark's Knud E Hansen has designed a new battery-powered ro-pax for the Faroe Islands.
Angelicoussis scraps panamax John Angelicoussis has scrapped a panamax bulkers in a terrible dry cargo market.
UDS adds trio Ultra Deep Solutions (UDS) of Singapore has inked an order for up to three ultra deepwater construction vessels in China.
Nakilat pushes up profit Qatar's Nakilat has carried its 2014 momentum into the first quarter of this year by posting an increase of 8% in its earnings.
Ferry grounds off Turkey All 188 passengers have been evacuated from a Turkish passenger ferry after it grounded off Gokceanda on Sunday.
Sloman signs for tanker duo Germany's Sloman Neptune has returned to Jiangzhou Union in China for two new tankers.
VV launching DCF price VesselsValue.com is set to launch a discounted cash flow (DCF) feature to its online service in what its experts say is one of the most important developments since its launch.
Kaalbye case dismissed Ukrainian owner Kaalbye Shipping International has failed in a US defamation bid after a row over arms shipping accusations.
Boskalis appeals ruling Boskalis has appealed a court decision which prevented the dredging company from reviewing an anti-takeover clause in Fugro's constitution.
Oaktree wins green light Oaktree Capital is clear to become the major shareholder in Danish owner Torm after lenders offered support to the transaction.
Maersk boxship grounds Maersk Line has confirmed to TradeWinds that one of its containerships did run aground in the Suez Canal over the weekend.
Poles eye Asian orders Two Polish shipyards are vying for new orders in Indonesia.
Yara takes $112m hit Norwegian LPG owner Yara International has written down its Libyan fertiliser export venture due to the worsening security situation.
Vyborg edges into profit Russia's Vyborg Shipyard returned to the black in 2014 as revenue rose.
FSL Trust keeps buying First Ship Lease Trust (FSL Trust) has made its third and largest purchase of its own stock in as many weeks.
Atwood takes a cut Atwood Oceanics has been forced to reduce the charter of one of its semi-submersible rigs damaged in a typhoon off Australia.
Yemen tries to ban ships Yemen's government in exile has reportedly issued a notice that seeks to ban vessels from entering its territorial waters.
Vopak sounds cautious note on UAE storage Continuing expansion could undermine success.
Singapore, Rotterdam join forces on LNG bunkering MoU seeks to speed up creation of a global LNG bunkering network, authorities tell Bunkerworld.
New fuel-efficient engine concept suitable for ships Researchers are developing 'pressure gain combustion' technology.
Law firm: ECA non-compliance 'not as bad as expected' Stakeholders should still protect themselves from 'teething problems', recommends Clyde & Co.
South Korean oil major sells bunker fuel to Chimbusco 40,000 mt of 380 cSt grade bunker fuel schedule to arrive at Tianjin port in April.
'New' ECA fuels offer benefits if challenges are understood VPS highlights cold flow properties and 'exceptional compatibility issues' in some products as critical areas.
Tesoro marine terminal: 'Green' review call Green groups seeking to halt 'dangerous' refinery operations.
DFDS bunker programme pays off Former OW technical manager helping company become a better bunker buyer.
Analyst: Bunker prices to stay soft For next three years.
Ultrapetrol posts annual loss But new CEO upbeat on longterm prospects.
LNG players note need for bunker infrastructure development Use of small scale LNG as a fuel for marine transportation discussed between Gasunie and Gazprom.
Fuel storage facility in Oman to open in November Facility will be located at Salalah port.
USCG releases interim-guidance for LNG barge design 'Applies only to non self-propelled vessels on domestic routes'.
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