Box shippers want Obama in port talks President Barack Obama should "personally engage in discussions" if US West Coast ports and dockworkers fail to reach a deal immediately, a leading shipper group has asserted. Citing reports that US Secretary of Labor Thomas Perez will order negotiations be moved to Washington, DC if a deal isn't
Cargo ship floats off Scottish rocks DFDS cargo ship Lysblink Seaways, which ran aground in Scotland early Wednesday morning, refloated by itself on the high tide at 21.00 yesterday. The vessel remains anchored near the site of the grounding as inspections and repairs take place. While exiting the Sound of Mull en route from Belfast
Hansa Treuhand expects fresh opportunity buys Hamburg shipowner and KG issuing house Hansa Treuhand expects to re-expand its fleet after steady tonnage losses in recent years. The group's fleet, which includes KG tonnage placed with third party ship managers, dropped from 85 to 60 vessels since the shipping markets collapse in late 2008 due to
Shipping should no longer conduct sea rescues Industry representatives will explain to the EU why the shipping sector should no longer be expected to shoulder the burden of large scale migrant rescues in the Mediterranean Sea. Intermanager and the European Community Shipowners' Associations (ECSA) will hold a seminar next month during European
ACCC keeping close eye on Toll Toll's maritime interests will not be affected by the biggest Japanese takeover of an Australian company, it said. However, they have come under scrutiny of the Australian Competition and Consumer Commission (ACCC). Toll subsidiary, Toll Marine Logistics operates a fleet of 80 vessels
DOF Subsea hit by foreign exchange loss A foreign exchange loss hit DOF Subsea, the listed Norwegian offshore services vessel owner, in 4Q14 but the company says good contract coverage should retain 2015 operating profit close to last year's level despite weak spot markets. Group net loss amounted to NOK202 million (USD26.6 million) in
Songa Offshore warns of tough times ahead Songa Offshore, the Oslo listed midwater drill rig operator, warns of tough times in the business as the low price of oil reduces activity. "The fall in the oil price have led to oil companies postponing or even cancelling projects. We expect more rigs to leave the Norwegian Continental Shelf and
Cost-cutting in the offshore market Due to falling oil prices, companies in the offshore maritime sector need to press the "cost-cutting" button to mitigate any risk of financial distress, warned industry players. Dedicated ship managers could be an option for vessel owners looking to make savings in servicing offshore supply needs.
Cyclone Marcia closes three Australian ports Tropical Cyclone Marcia closed three ports on the Central Queensland coast of Australia this morning, clocking up to 295 wind gusts and breaking all records. The ports of Gladstone, Alma, and Bunderburg remained closed, according to information provided to IHS Maritime by the state department of
New Queensland Premier prevents port privatisation Within a week of forming government, Australia's newly elected Queensland state premier has stopped privatisation of the states remaining ports. In addition, Premier Annastacia Palaszczuk has withdrawn government funding from the Adani rail link to Abbot Point, prohibited a plan to deposit dredge
Teekay Offshore profits up 19% NYSE-listed Teekay Offshore increased their total earnings 19% year-on-year in 4Q14 to USD40.1 million despite the depressed crude oil markets. Unadjusted for several items, including gains and losses on derivatives and unrecovered vessel operating expenses, the company posted a USD17.7 million
Iran poised to claw back market share despite sanctions Lloyd's List Intelligence data suggests February could be a record high for Iran seaborne oil exports
US west coast deal agreed between ILWU and PMA Update: Tentative agreement on new five year contract reached after intervention by US Labor Secretary Tom Perez
North P&I Club biggest loser in renewals round But mutual 'stronger' despite loss of Hanjin and Berge, insists Shirke
Box lessors see profit pressure in 2014 Some of the leading container lessors have seen profit margins decrease as lease rates come under pressure from low newbuild prices
Dynagas eyes FSRU as well as LNG carrier orders Publicly-listed partnership says 30% of current LNG fleet of below-par market specs
Asia-north Europe carriers expected to struggle with latest price push Uncertainties in cargo demand means successful March GRIs are unlikely, says broker
Oakland forced to close as ILWU holds 'stop-work' meeting Port officials bemoan latest work stoppage as west coast waterfront dispute wrangles on
CMA CGM continues to develop African inland depots French shipping line opens new inland terminal close to the port of Douala in Cameroon
P&I renewals reflecting loss records more closely, argues Willis Clubs rightly prioritising underwriting results over market share, says Abraham
More than $2bn invested in new LNG ships as industry stands at crossroads Many are betting big on LNG, but there's no getting away from those unresolved issues that shape the industry's future
Five things you need to know about the 2015 P&I renewal round Soft market, with increased club switching, is seen as likely
NC Port of Wilmington extends gate hours to handle volume rise The North Carolina State Ports Authority is extending gates hours by an hour at the Port of Wilmington to help keep pace with volume growth. Starting Monday, the port's Suth Gate will be open from 7 a.m. until 6 p.m., remaining open through the lunch hour. It's a move that port...
Ottensmeyer tapped as KCS president Kansas City Southern Railway's executive vice president and chief marketing officer, who has helped lead the railroad's successful push into the U.S.-Mexico cross-border market, has been promoted to president. Pat Ottensmeyer will assume assume his new role at the Missouri-based railway March 1. KCS CEO David Starling had previously held the...
LA, LB mayors urge ILWU, PMA to reach deal The mayors of Long Beach and Los Angeles told negotiators for the International Longshore and Warehouse Union and the Pacific Maritime Association to reach a coastwide contract settlement now. Referencing a call from the Obama administration to both sides to reach a deal on Friday or be prepared to resume negotiations...
Canada's railroads gain intermodal cargo from US West Coast U.S. intermodal volumes are dropping significantly in recent weeks while Canadian railways report higher intermodal traffic, providing further evidence that U.S. West Coast congestion and labor strife is spurring shippers to divert cargo to Canadian ports. Weekly intermodal traffic on the U.S. rail network has dropped by more than 23,000 units...
Intermodal operator helps clear container backlog at India's western ports State-owned intermodal operator Container Corporation of India said it has helped clear out the backlog of import containers destined for Ludhiana that had stacked up at major ports on the west coast over the past few months. Ludhiana is one of Concor's key inland container depots in the northern hinterland region. "A...
US Labor Secretary to ILWU, PMA: Reach deal or negotiate in DC U.S. Labor Secretary Tom Perez on Thursday told the International Longshore and Warehouse Union and the Pacific Maritime Association that they have until Friday to reach a contract or they'll have to negotiate in Washington D.C. Negotiators for the ILWU and the PMA on Friday were separately reviewing the details of...
Baltimore posts record volumes of autos, containers The Port of Baltimore handled record volumes of containers, automobiles and general cargo in 2014, the Maryland Port Administration reported. Containerized cargo increased 9.2 percent year-over-year to 770,139 twenty-foot-equivalent units -- 589,382 loaded TEUs and 181,101 empty units. Measured in container lifts, volume totaled 484,410 units, up 10 percent from 2013. Port...
Rupinski issues ratings An equity analyst at Global Hunter Securities has initiated research coverage of the containership market.
Port standoff continues One of the largest containership operators in the world made waves today after cancelling sailings from Asia to the western US in response to a high-stakes labour dispute that has paralyzed dozens of ports.
Ice besets lakes bulker The US and Canadian coast guards are working together to reach a laker that has been stuck in ice off Ohio for several days.
Cape commands $30m All eyes were on the sale-and-purchase market Friday in the wake of rumours that a capesize bulker commanded $30m, which represents a new low for this type of tonnage.
Deliveries set for spike Global newbuilding deliveries are set to rise for the first time in four years, Clarksons says.
MJLF mourns Flynn Industry veteran Robert Flynn, the chairman of US tanker broker MJLF & Associates (MJLF), has died at the age of 61.
Mols beats forecast Denmark's Mols-Linien has posted stronger than expected profit for 2014 as its ships became busier.
Lutheran sale opposed Evangelical Lutheran Church followers in Papua New Guinea are opposing ship sales with the power of prayer.
LSC kicks club stake into touch Tanker owner Latvian Shipping Company (LSC) has blown the whistle on its investment in Ventspils football club.
Tanker crewman injured A tanker crewman has been taken from a Russian tanker after losing part of a finger in an accident off Latvia.
Vale production passes forecast Vale's annual iron ore production has passed forecasts despite a tailing off in the second half that proved detrimental for shipping.
New deal needed Russia's Baltiysky Zavod is seeking to redraw icebreaker contracts due to the collapse in the rouble.
Bharati sues banks India's Bharati Shipyard is taking legal action against its banks in a dispute over interest payments.
Atlantic weak in Q4 Norway's Atlantic Offshore has booked a loss for the fourth quarter of 2014 despite higher revenue.
Teekay Tankers secures loan Teekay Tankers has tied up bank financing for a five-ship purchase completed in December.
$1.5bn deal up for grabs Up to £1bn ($1.53bn) of ferry contracts are being put out to tender by the Scottish government.
Bore drops the Dutch Finnish owner Bore is reflagging two of its ro-ros as it shuts its Amsterdam office.
Morgan Stanley trims stake Morgan Stanley has reduced its holding in Greek containership owner Costamare but the bank remains a major investor in the company.
Cargo shift sinks ship A Latvian-operated cargoship has sunk in a storm off Turkey after its timber cargo moved.
Teekay Tankers still on M&A hunt Teekay Tankers continues to hunt down fleet deals and takeover opportunities, its chief executive says.
Crowley fighting Ebola Crowley Maritime Corp has supported the construction of 17 Ebola treatment centres in Liberia and Senegal.
LPG carrier pumped A Yara International LPG carrier has suffered water ingress off Norway.
Aiming for transparency We take a look at what was said in the market over the past week.
Five more for Navig8 Ardmore Shipping and Arne Blystad are among the owners who have sent ships to Navig8 pools so far in February.
ABG loses $47m India's ABG Shipyard has posted a bigger loss in its third quarter as revenue plunged.
Litgas eyes LNG bunkering Litgas says it is looking to establish an LNG bunkering operation in the Baltic in partnership with Norwegian oil major Statoil.
DOF posts NOK 202m loss DOF has ended the financial year at a fourth quarterly loss despite higher revenues and a number of asset sales.
Nakilat ends on a high Nakilat, the world's largest owner of LNG carriers, has reported a 23% year-on-year increase in full year profit.
Panamax rates improving The recovery of the panamax containership charter market is gathering pace, according to Alphaliner.
Lysblink Seaways refloats The DFDS general cargoship that ran aground off Scotland has self-refloated, the UK Maritime and Coastguard Agency (MCA) said.
Countdown continues Navios Maritime Holdings has not abandoned plans to spin-off its South American logistics division at some point in the future but the timing of this pursuit remains unclear.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
World's supertankers sailing at fastest speed in 2.5 years Acceleration due to cheap crude oil, rising demand for cargoes and higher tanker rates.
Dan-Bunkering expands US ops Jim Jensen has been promoted to Commercial Director of firm's Houston office.
Rolls-Royce to deliver Spain's first pure-gas marine engine Engine will cut fuel costs and reduce CO2 emissions by 40%.
Grounded cargo ship leaking fuel oil But work to stop leak started Friday.
White: 'Compatibility testing more important than ever' Explains why it makes no sense to say ExxonMobil's ECA product HDME 50 may be incompatible with MGO.
Price volatility makes shipowners anxious Unwilling to to fix forward stems.
MSC selects fuel-saving hull coatings The MSC Oscar is among a dozen vessels to receive coating.
Bunker sales strengthen for Russian oil giant Annual sales volume rose 25% over the year.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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