GAIL invites fresh bids for USD7Bn LNG newbuilds GAS Authority of India Limited (GAIL), a government owned entity, has again invited tenders to charter nine LNG newbuilds for transporting nearly 6M tonnes of LNG annually from the United States to India. The tender that was floated last year for the purpose was scrapped when there were no takers
Hapag-Lloyd IPO mooted by mid-November German container line Hapag-Lloyd is determined to push ahead with its planned initial public offering (IPO) faster than expected, according to local press reports. The company, which has Chilean shipping group CSAV as its largest shareholder, aims to complete its listing on the Frankfurt Stock
Genting bags majority stake in Lloyd Werft Malaysian multinational Genting Group today sealed its takeover of German shipbuilder Lloyd Werft after two months of negotiations. The group, which has cruise shipping interests and is an investor in operators Star Cruises, Crystal Cruises, and Norwegian Cruise Line, has agreed to acquire a 70%
Maersk Line names north China head Maersk Line has announced the new head of its operation in north China. Anderson Luo will take over the role in Qingdao from Mike Fang on 1 November. Fang moved in July to Shanghai to become head of Maersk Line East Central China. "North China continues to outperform the market, with solid growth
The sound of the fury US shippers continue to vent their anger over the damage to their businesses caused by months of disruption at US west coast ports during negotiations on a new labour contract
Armed police close Mombasa port, search car carrier Port security evicted while cargo searched by Kenyan authorities
OW Bunker test case will have implications across many industries, lawyers warn Update: Court of Appeal judgment expected by end of year
Maersk Tankers' nine MR newbuildings will support its "taking lead" strategy in the product segment But company must act swiftly to offload older tonnage, or it will exacerbate a worryingly bloated orderbook
Demand doubt casts long shadow over LNG shipping Japan, South Korea and China are all reducing LNG demand, with Southeast Asia trying to take up the mantle
Asia-Europe rates continue to slide Carriers pin hopes on capacity cuts to stabilise rates before the next round of GRIs
Tanker sector warned that cheap oil bonanza will come to an end Drilling operations have slowed and sliding oil price may drive out some producers
Hapag-Lloyd could launch IPO in mid-November Shipping major looking to raise $6.3bn in the share offering
Yangzijiang confirms eight-strong order for 11,800 teu ships by PIL It is the largest containership so far for both the buyer and builder
Mediterranean Shipping Co unit buys 45% stake in Trieste Marine Terminal MSC's Marinvest acquires a stake in the terminal operator from TO Delta
SHI denies merger with sister company Samsung Heavy Industries brushes off chatter of a merger with Samsung Engineering in the near term
Gener8 Maritime takes delivery of its first 'eco' VLCC newbuilding Vessel is first in a series of 21 VLCCs to be delivered through February 2017
Senior officials from U.S. government and Federal Reserve Bank; intermodal industry executives to headline Intermodal EXPO 2015 Event: The Intermodal Association of North America (IANA) hosts Intermodal EXPO 2015, bringing together North American intermodal supply chain leaders to discuss industry trends and business opportunities. Representatives from 3PLs, ocean carriers, railroads, ports, drayage companies, shippers, motor carriers, and technology providers are scheduled to speak to one of the largest...
Mixed eastbound trans-Pacific rates signal peak season softness Freight rates in the eastbound trans-Pacific showed mixed results this past week, with the Drewry and Shanghai spot rate indexes reporting slight rate increases on some routes and modest decreases on other routes. The bottom line, though, is that the spot rates are not as robust as they should be as...
NS shifting Triple Crown Service shippers to other intermodal lanes Norfolk Southern Railway is downsizing and refocusing its Triple Crown Services subsidiary on the transport of automotive parts and moving non-auto part business to other NS intermodal lanes. "This change is a natural evolution in the business," Alan Shaw, executive vice president and chief marketing officer at the Norfolk, Virginia-based railway,...
Shipowner Seaspan secures $1 billion in Chinese credit Seaspan Corp. has signed an agreement with the Export-Import Bank of China for up to $1 billion in export credit facilities to support the purchase and construction of vessels from Chinese shipyards within the next three years. Seaspan, which owns container ships and charters them to operators, has had a relationship...
JNPT sets deadline for automation of import transactions In a followup to its earlier directives, India's biggest container handler, Jawaharlal Nehru Port Trust, has set Dec. 31 as the date by which shipping lines and related stakeholders should set up a paperless system for issuing import delivery orders to cargo interests. "Electronic issuing of delivery orders is one of...
Consortium picked to open new Mokpo vehicle terminal next year Mokpo port has chosen South Korean logistics companies CJ Korea Express and Dongbang Co., along with port operator Mokpo New Port, to operate a vehicle terminal completed in July, according to the Mokpo Regional Oceans and Fisheries Administration Office. The 1 million-square-foot terminal is able to handle 33,000-ton ships with its...
Rocketing Sea-Tac volume latest sign of importers returning to West Coast Volume through the Northwest Seaport Alliance of Seattle and Tacoma rose at double-digit clip, the latest potential sign that importers are returning to the West Coast amid peak season. On a year-over-year basis, imports rocketed 21.6 percent and exports jumped 26.1, equating to a total rise of 23.7 percent in international...
US highway bill provision threatens Customs clearance speeds A provision in the U.S. Senate-approved highway bill would index Customs user fees to inflation and divert the increased fees to fund programs in the bill. With severe shortages of Customs and Border Protection staffing at ports around the country, diverting funds to pay for unrelated projects is a misguided...
Virginia closing chassis yard as work continues at North Gate In a move that will be temporarily disruptive but is aimed at addressing the port's truck bottleneck, the Port of Virginia will close a chassis yard next week. The closing of the NCY chassis yard, starting Sept. 23., is part of the ongoing $31 million expansion of its North Gate...
Asia-Europe, Med rates slide further ahead of second September GRI HONG KONG - Spot rates on the Asia-Europe and Mediterranean trades continued their downward spiral this week, even as container shipping lines wearily prepared to hit the market with the second general rate increase this month on Sept. 20.The Asia-Europe rate fell by 22.3 percent to $456 per 20-foot container,...
MSC buys stake in Trieste container terminal Port of TriesteLONDON - Mediterranean Shipping Co. has acquired a 45 percent stake in the Trieste Marine Terminal as the 2M Alliance positions itself to capitalize on a European Union infrastructure initiative known as the TEN-T. Marinvest, Swiss-based MSC's Italian holding company, has paid the terminal's owner TO Delta Group around 20...
Finnish ports closed in 24-hour nationwide strike Port of HelsinkiLONDON - Finland's ports and rail freight trains are at a standstill as workers participate in the biggest nationwide strike since 1993 to protest the government's latest austerity measures. Longshoremen began a 24-hour stoppage at 6 a.m. local time and trains have stopped running, but ferries, including those to...
Former trainee to lead Maersk Line for North China An educational trainee who worked his way up to head of customer service at Maersk Line South China will now lead operations at the North China division of the top global container line. Effective Nov. 1, Anderson Luo will become head of Maersk Line North China, replacing Mike Fang, who in...
Hapag-Lloyd targets November IPO - report LONDON - Hapag-Lloyd is reportedly aiming for a stock market listing in mid-November that could value the German ocean carrier at around 5 billion euros ($5.6 billion). The world's fourth-largest container line will sell 20 percent of its shares in an initial public offering on the Frankfurt stock exchange, according to a report...
Hoegh Transporter raided Kenyan authorities have raided a Hoegh Autoliners car carrier in what has been reported to be a hunt for smuggled drugs and arms.
Maersk in $300m tanker splash Denmark's Maersk Tankers is spending $300m on nine new MR tankers from Samsung's Chinese shipyard.
Double vision How oil disasters changed the shape - literally - of tankers.
The claim game Forget rustbuckets, it's the ever-escalating value of new vessels that keeps the insurance industry awake at night.
KG KO The fall from grace of a unique system of financing has knocked German boxship owners off their perch. What went wrong? Ian Lewis investigates
Still in peril on the sea A quarter of a century of regulatory efforts to reduce the high fatality rate associated with bulk carrier losses has largely failed, judging by recent casualties.
CMES banks $116m China Merchants Energy Shipping (CMES) has banked CNY 741m ($116m) in state scrapping subisidies.
HSH shedding up to $32bn German shipping lender HSH Nordbank is close to offloading between EUR 14bn and EUR 28bn ($32bn) of bad loans on to its state owners.
ABB orders at Kleven Power systems group ABB has made a move into shipowning as it ordered a cable-laying vessel at Kleven Shipyard of Norway.
Aegean renews loans Aegean Marine Petroleum Network is looking to increase its global market share as it refreshed its $1.25bn borrowing base.
BW seals LNGC funds Singapore's BW Group has sealed $360m in loans to finance its new LNG carriers built at Hyundai Heavy Industries (HHI).
Dof buys more bonds Norway's Dof Subsea has spent more of its free cash on buying back bonds.
Eidesvik sells one more Eidesvik Offshore has completed its second vessel disposal in one month, with the sale of a cable-layer ship.
Dae Sun closes on orders Dae Sun Shipbuilding is closing on an order for two more small containerships as it looks to leap to slightly bigger sizes.
New ferry run planned A new ferry service could be up and running between Victoria and Vancouver in Canada next year.
Ceona goes bust Nine companies owned by UK player Ceona Offshore have gone into administration.
Polarcus wins again Middle East owner Polarcus has secured another seismic survey contract, this time in West Africa.
Jan De Nul buys Vidar Dutch firm expands offshore wind parks installation capabilities with latest vessel acquisition.
Yinson to raise $100m Yinson Holdings says it plans to raise around $100m from the sale of senior perpetual capital securities.
Genting buys Lloyd Werft Hong Kong outfit buys out two existing shareholders to take control of Bremerhaven yard.
Malaysia plans backed Malaysia's call for increased regional cooperation and armed guards on board ships to combat piracy has received industry backing.
Malaysia piracy plans backed Moves to take increasingly pro-active approach to maritime security have been welcomed.
New study blames ships for big share of tiny particles Measurements were done in Baltic coastal areas prior to 0.10% ECA sulphur limit.
Hydrofoil retrofit reduces naval vessel's fuel usage Unit optimised to the speed of 17.5 knots, says hydrofoil manufacturer.
'Eco-ships' have proved their value 'Eco-ships have improved the bottom-line.'
ECA extension would increase Alaskan cost of living 200-mile rule set to come into force this week.
TOTE companies come together under one name Both companies are switching their vessels to run on LNG.
ING targets ships In bid to make good OW debts.
China's fuel oil imports 'will continue to fall' Demand from bunker and energy sectors is weakening.
Troubled bunker player loses loan facility Investor ends funding deal after a series of payment defaults.
Shell's LNG bunkering facility welcomed LNG bunkering facility is based in Teesport, UK.
Aegean renews billion-dollar loan To support operations and expansion plans.
Hydrofoil retrofit reduces naval vessel's fuel usuage Unit optimised to the speed of 17.5 knots, says hydrofoil manufacturer.
Tianjin: Bonded bunker supply temporarily suspended Due to checks on suppliers' business licenses and qualifications.
Aegean bags billion-dollar loan To support operations and expansion plans.
VPS advises to ensure emergency equipment has usable fuel Finds alarming trends after testing samples from life boat engines and emergency generator storage tanks.
APT receives double-hulled bunkering tanker New vessel is compliant with updated US regulations.
OPEC: Crude prices could reach $80 by 2020 But 'are unlikely to return above $100 per barrel until 2030-2040'.
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