Japanese banks agree USD340 million in LNG ship loans One of the companies was set up by NYK Line. Credit: AffeldtThe government-affiliated Japan Bank for International Cooperation (JBIC) and three domestic private banks have signed syndicated loan agreements worth a total of JPY41.6 billion (USD340 million) with two Singaporean shipowners. The two companies - Diamond LNG Shipping 1 and Diamond...
Commentary: Ship recycling - losing value through the opinion gap Priya Blue Industries' internationally compliant recycling yard in Alang. Credit: Priya Blue Industries.At a conference this year, an older statesman of the shipping industry referred several times in his speech to ship "recycling". Adding the inverted commas with his hands, I thought he must be indicating that in his view...
Carbon free shipping needs root and branch reform Since the uproar over the omission of shipping from the Paris climate change agreement, shipping interests have been issuing statements pledging their commitment to work on measures to reduce greenhouse gas emissions from ships. However, there is doubt over the effectivity of only ship-specific measures. Take the measure developed at the...
EU court overturns Spanish tax-lease ban Credit: PAThe General Court of the European Union has quashed a ruling of the European Commission in July 2013 that a Spanish ship finance tax-lease scheme involved illegal payment of state aid. The judgement could open the way to massive compensation claims from Spanish shipbuilders who claim that they lost export...
Commentary: Carbon free shipping needs root and branch reform Growler iceberg, Antarctica. Credit: Capt. Patrick Toomey RMSince the uproar over the omission of shipping from the Paris climate change agreement, shipping interests have been issuing statements pledging their commitment to work on measures to reduce greenhouse gas emissions from ships. However, there is doubt over the effectivity of only...
GeoSea kicks off Nordsee One construction Jack-up Innovation. Credit: DEMEBelgium dredging giant DEME's offshore marine engineering company GeoSea has begun construction of the EUR1.2 billion Nordsee One wind farm in the German North Sea and is deploying Innovation, the world's biggest jack-up vessel. Nordsee One is a joint venture between Northland Power, which owns 85%, and RWE...
SFL books two LR2 tanker orders Bermudan based Ship Finance International Ltd has announced today that it has placed an order for two 114,000dwt product tankers at a South Korean shipyard. The vessels are to be built at Daehan shipyard with deliveries scheduled for the second half of 2017. On completion the vessels will enter long term...
Kleven wins large Fishing vessel order Ulsteinvik based Kleven Maritime has signed contracts with French fishing company Compagnie Des Peches Saint-Malo S.A. & SAS Comptoir Des Peches D'Europe Du Nord - Euronor for the construction of a large stern trawler. The 80m long trawler is a NVC 374WP design from Rolls-Royce that will be delivered from the...
Eurotunnel to seek permission to sell freight ferry Nord-Pas-de-Calais. Credit: FotofliteChannel tunnel operator Eurotunnel has said that it will be seeking permission from a French court to sell the freight ferry Nord-Pas-de-Calais following a British Supreme Court judgement confirming earlier decisions by the UK competition authorities barring it from operating out of the port of Dover. Following the demise...
HSH Nordbank portfolio sale shaping up Credit: PAShipping lender HSH Nordbank is beginning to put together a EUR6.2billion portfolio of distressed shipping loans for transfer to its shareholders, the states of Hamburg and Schleswig-Holstein, following parliamentary approval of its state aid scheme. The bank has launched a tender among ship assessors and financial auditors for value...
Swedish shipowners say logistic changes key to zero emission target First methanol powered ferry, Stena Germanica, on the Kiel-Gothenburg route. Credit: Stena Line.The Swedish Shipowners Association has called for a complete and broad reassessment of the whole transport chain as an essential part of a fossil free future for shipping. In a statement released today, the association's managing director Pia Berglund...
Golden Union cancels third of four Capesizes at HHIC Hyundai Heavy Industries. Credit: AffeldtGreek owner Golden Union Shipping has cancelled one more Capesize order at Hanjin Heavy Industries & Construction. The South Korean shipbuilder said today that the owner was unable to secure financing and had terminated the order. IHS Maritime & Trade's Sea-web data suggests the ship, labelled Hanjin Busan N261, which...
Atwood delays drillship delivery again Daewoo Shipuilding & Marine Engineering said that Atwood Oceanics has requested yet again to extend the delay to the delivery of the drillship Atwood Archer. In November 2014, Atwood asked to defer the delivery to May 2015. Atwood Admiral, another drillship that it ordered from the same shipbuilder, has also has its delivery postponed...
Orders bonanza for product tankers in 2015 Hyundai Mipo Dockyard. Credit: HMDAlmost 180 product tankers have been ordered in 2015, up almost 30% year-on-year. The main reason for the bullish investment sentiment in this sector has been the drop in oil prices, which has enabled refineries to generate clean petroleum products at lower costs. Orders have not been this...
Rates slide as lines declare hefty January GRIs Credit: PASpot rates on the major east-west trades fell across the board this week with Asia to North Europe and the Mediterranean now priced at 60% less than during the same week last year, according to the latest reading of the Shanghai Containerised Freight Index. After posting a 155% increase...
Focus on berth productivity could save shipping billions Ship fuel transfer. Credit: AffeldtContainer shipping lines are leaving billions of dollars in fuel costs on the table by not putting enough focus on berth productivity. Analysis of IHS Maritime & Trade container vessel call data reveals that limited work on berth productivity means lines are missing the opportunity to take...
Singapore port throughput falls 16% Singapore. Credit: HasenpuschContainer throughput at the port of Singapore fell by nearly 16% in November compared with the same month last year. Figures from the Maritime and Port Authority of Singapore (MPA) show the world's second busiest container port handled just over 2.4 million teu during the month, compared with 2.86...
Fujairah port expansion continues Pile driving with land-based equipment. Credit: Athena EmiratesThe second phase of a USD50 million engineering, procurement, and construction (EPC) contract, Oil Terminal 2 (OT2) at the Port of Fujairah became fully operational this year when the facilities were completed. Final civil and marine works were completed last year. Since then the port has...
Port equipment makers weigh options in new SOLAS rules The dangers of overweight containers. Credit: Conductix-Wampfler.Who weighs the box and at what step of the shipment process that happens has become a key industry focus as the container logistics chain prepares for new verified weight regulations that will be enforced from mid-2016.On July 1, a new SOLAS (Safety of...
Record container load for UASC mega ship UASC's Al Muraykh. Credit: UASC.United Arab Shipping Company has loaded what it describes as a world record 18,601 teu on one of its brand new fuel efficient ships that is now heading for Felixstowe.The Al Muraykh, delivered in August, departed Port Klang in Malaysia for the UK with its full...
USD2 billion in Teekay Group market value evaporates Shipping sell-off on Wall Street. Credit: PA.The annus horribilis for publicly traded shipping companies grew appreciably more horrible on 17 December as stocks were routed and the Teekay family of companies suffered an astonishing single-day collapse in value. The latest slide came on a day when the Baltic Dry Index...
Vultures circle offshore industry Law firm sees bargain distressed assets as offshore sector struggles
Diana Shipping extends charter rate for capesize vessel at $6,500 per day Slew of recent fixtures concluded at below cash break-even rates
Ship Finance International orders two new LR2 product tankers Newbuildings scheduled for delivery in 2017 and to go on long-term time charter to undisclosed energy company
Here's to the highs and lows Lloyd's List salutes another year of skirmishes in the maritime industry
Capesize newbuilding order cancelled Order cancelled because of financial difficulties at unnamed owner
Hapag-Lloyd chief executive joins Stolt-Nielsen board Logistics background was needed on board
Asia-Europe rates begin their inevitable slide Overcapacity continues to thwart GRI gains, as rates on the transpacific trade slump to new lows
Fixture rush boosts VLCC rates to new seven-year high Market participants eager to sign off business ahead of Christmas holiday, pushing spot earnings for owners to fresh high
Dry bulk company CSC Phoenix to become dredging firm State-owned Chinese shipping giant plans to dispose of loss-making listed units, consolidate operations
Premuda offloads two Aframax tankers Both vessels sold to M Sea Capital Fund with attached charters
Kalmar wins another crane order from Piraeus Container Terminal Cranes to be built in China and delivered over 2016-2017
Maersk joins WTO's Global Alliance for Trade Alliance to identify key obstacles to trade in certain countries
Israeli government to fine Ashdod Port for marine pollution Improper cargo handling caused sulphur stain to spread on the sea
A CP-NS merger would get easier regulatory ride in Canada than US Canadian Pacific Railway's increasingly aggressive attempt to acquire Norfolk Southern Railway will have a regulatory smoother ride in Canada than in the U.S. - if NS shareholders jump on board with the plan. Should regulators in Washington and Ottawa eventually approve the deal - something NS and many rail analyst say...
Has US truck capacity peaked? The surge in U.S. trucking capacity, brought on by massive truck orders in 2014 and weaker freight demand in 2015, is tugging at the bottom line at Knight Transportation. Long one of the most profitable U.S. truckload carriers, Knight is lowering expectations for fourth-quarter earnings per diluted share by 3...
Terminal lease renewal aids Port Everglades' big ship prep Port Everglades said it expects to gain about 128,000 twenty-foot-equivalent units over the next 10 years through the renewal of Florida International Terminal's lease and relocation of the facility as the port works to accommodate mega-ships. The 10-year lease extension comes after the port announced annual container throughput growth of 5...
FMC's Cordero ready to seek PierPass shutdown if changes don't come WASHINGTON - U.S. Federal Maritime Chairman Mario Cordero said he's prepared to try to shut down the PierPass program at the Southern California ports via a federal injunction if an agency review of the program finds it to be in violation of the Shipping Act and terminal operators don't move...
Brazil cabotage carrier launches ship to meet booming demand Log-In JequitibáBrazil coastal carrier Log-In Logistica Intermodal has deployed a new container ship after its volume rose 24.5 percent year-over-year to 241,736 twenty-foot-equivalent units in the first nine months of the year. Rising containerization, along with theft and environmental concerns, are spurring shippers to embrace cabotage ocean services rather than over-the-road...
Long turn times raise PortMiami truckers' ire Drayage companies say truck turn times at PortMiami have lengthened in recent weeks, creating delays for shippers and reducing the number of trips that drivers can make in a day. Managers at four South Florida drayage companies told JOC.com that turn times of up to five hours, including queues outside gates,...
Trans-Pacific eastbound spot rate descent continues Freight rates in the eastbound trans-Pacific continued to sink this past week, with spot freight rates to both the East and West coasts hitting new lows for the year. The spot rate for shipping a 40-foot container from Shanghai to the East Coast was $1,625, according to the latest reading of...
Evergreen unveils Panama terminal expansion Evergreen Group's Colon Container TerminalEvergreen Group's Colon Container Terminal in Panama has completed the third phase of an expansion that will allow the terminal to handle the largest ships that will transit the Panama Canal's soon-to-open larger locks. The terminal expansion added a fourth berth that, combined with the adjacent Berth...
Eurotunnel needs court permission to sell ship Nord-Pas-de-CalaisChannel tunnel operator Eurotunnel has said that it will be seeking permission from a France court to sell the freight ferry Nord-Pas-de-Calais following a British Supreme Court judgement confirming earlier decisions by the U.K. competition authorities barring it from operating out of the port of Dover. Following the demise of Eurotunnel...
Singapore traffic falls for fourth straight month Container throughput at the port of Singapore fell by nearly 16 percent in November compared with the same month last year. Figures from the Maritime and Port Authority of Singapore show the world's second-busiest container port handled just over 2.4 million 20-foot-equivalent units during the month, compared with 2.86 million in...
Lagging berth productivity costs shipping billions Container lines are leaving billions of dollars in fuel costs on the table by not putting enough focus on berth productivity. An analysis of IHS Maritime & Trade container vessel call data reveals that limited work on berth productivity means lines are missing the opportunity to take at least $2.6 billion...
Nippon Express establishes new Myanmar subsidiary Nippon Express Co., Japan's largest international freight forwarder, has set up its second subsidiary in Myanmar, further strengthening its footprint in the increasingly promising Southeast Asia market. The Tokyo-based company, also known as Nittsu in Japan, established Nittsu Logistics Myanmar Co. in the Thilawa Special Economic Zone near Yangon, Myanmar's largest...
LA, LB ports confident investment, productivity will spur growth Los Angeles and Long Beach have regained much of the market share they lost this past year because of port congestion and labor issues, and they will grow in the years ahead through massive investments in infrastructure and cutting-edge process improvements in cargo-handling, the top executives as both ports said...
Asia-Europe rates slide as lines reveal stiff January GRIs Spot rates on the major east-west trades fell across the board this week with Asia to North Europe and the Mediterranean now priced at 60 percent less than during the same week last year, according to the latest reading of the Shanghai Containerized Freight Index.After posting a 155 percent increase...
New SOLAS rules have port equipment makers weighing options The dangers of overweight containers can be seen in this photo provided by Conductix-Wampfler.Who weighs the box and at what step of the shipment process that happens has become a key industry focus as the container logistics chain prepares for new verified weight regulations that will be enforced from mid-2016.On...
UASC mega-ship steams for UK with record load The Al MuraykhUnited Arab Shipping Company has loaded what it describes as a world record 18,601 twenty-foot-equivalent units on one of its brand new fuel efficient mega-ships that is now heading for Felixstowe.The Al Muraykh, delivered in August, departed Port Klang in Malaysia for the U.K. with its full load...
LA,LB ports confident investments, better cargo handling will spur volume gains Los Angeles and Long Beach have regained much of the market share they lost this past year because of port congestion and labor issues, and they will grow in the years ahead through massive investments in infrastructure and cutting-edge process improvements in cargo-handling, the top executives as both ports said...
Authorities cooperate as containership bunkers with LNG 'This represents another milestone in the advance of green, environmentally-friendly ship technology.'
Crane vessel to utilize 'largest' dual-fuel propulsion system Heerema-owned vessel to be built by Semcorp Marine.
Total Lubmarine blending plant starts Singapore operations Delivery operations supported by three 900 dwt barges.
New Orleans bunker fuel remains scarce; resupply expected next week: Trade High-sulfur product prices in port spiked relative to the nearby and competing Houston market.
Crowley picks Eagle LNG as bunker supplier New LNG plant to be built in Jacksonville by 2017.
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