Cargo owners warned to tackle box weight issues now Start now to plan weight certification and reporting procedures to ensure compliance with the IMO's new provisions for container weight verification, cargo owners were advised on 22 April. The deputy chairman of Hamburg Freight Forwarders' Association VHSp, Willem van der Schalk, who is also a
Svitzer sees salvage merger with Titan as best fit of strengths Svitzer, the towage and salvage company in AP Moller-Maersk (APM) group of Copenhagen, sees the merger of its salvage business with Titan, which is part of the US-based Crowley group, as the best fit of strengths of both parties. For the Danish company, it also means reaching an ambition to
Reederei NSB completes first Panamax widening project Panamax containerships are difficult to employ in today's competitive market. To ensure and extend the profitable operation of these ships, Reederei NSB developed a concept to widen a containership rather than lengthen it. Widening, the first of its kind worldwide, increases the teu capacity by
BP sums up its response to Deepwater disaster BP CEO Bob Dudley reflected on the company's response to the Deepwater Horizon oil rig explosion in a keynote speech at CERAWeek in Houston, Texas, on 21 April. He confirmed that the company had spent USD44 billion in response to the 2010 disaster in the Gulf of Mexico that killed 11 crewman and
CSBC to deliver 16 ships in 2015 China Shipbuilding Corporation (CSBC), Taiwan's largest shipbuilder, will deliver 16 newbuilds in 2015, the highest level since 2008, said CSBC president Chen Feng-lin on 17 April. Eleven newbuilds will be delivered by Kaohsiung yard and five by Keelung yard. Among these, three newbuilds by
Dolphin Group issues private placement shares Dolphin Group, the Oslo-listed geophysical services provider to the oil and gas industries, has completed a private placement of shares. Investors purchased 70 million new shares at a price of NOK2.05 (USD0.25) per share. "The consummation of the Private Placement is conditional upon the
Lysblink Seaways to be scrapped DFDS Seaways has confirmed that its 7,409 gt cargo vessel Lysblink Seaways, which grounded in northwest Scotland on 18 February, is to be recycled. After passing through the Sound of Mull en route from Belfast to Skogn with a load of paper, the ship failed to make a course change and hit rocks near
Ocean Yield raises cash for five-year bond issue Ocean Yield, the listed Norwegian company that invests in ships for long-term charter to third parties, has raised NOK1.0 billion (USD126 million) in an issue of five-year unsecured bonds. "Ocean Yield ASA has successfully completed a new unsecured bond issue of NOK 1,000 million with maturity date
Yingkou Port Liability plans takeover of piers Shanghai-listed Yingkou Port Liability plans to take over two products and chemical piers and rent other terminal assets at Yingkou port from its parent Yingkou Port Group. The two products and chemical piers are located in the Bayuquan port area of Yingkou port, with capacity for 20,000 dwt
New LME warehouse in Kaohsiung port open for tender A new public warehouse of London Metal Exchange (LME) in the Port of Kaohsiung's Free Trade Zone (FTZ), Taiwan, was put out to tender, and bids will be open in early May, stated Taiwan International Port (TIPC). The lease tender for the public warehouse in the new Nanxing FTZ of Kaohsiung Port was
Air strikes stop, but more Yemeni ports fall to al-Qaeda Saudi Arabia announced yesterday that it was suspending its air campaign in Yemen because it had "achieved its military goals", the government said. The 10-nation Saudi-led coalition began its 'Decisive Storm' aerial bombardment against Houthi rebels on 26 March, provoking a major humanitarian
Migrant boat crews arrested The captain of a migrant vessel that capsized late on Saturday night has been charged with mass homicide and causing a shipwreck for his part in the deaths of several hundred people who drowned in the Mediterranean. Tunisian national Mohammed Ali Malek was in charge of a 20m fishing trawler that
Singapore works to ease navigating straits The Maritime and Port Authority of Singapore (MPA) has started developing a new-generation vessel traffic management system to enable smooth and efficient navigation in the Singapore Strait. This was announced by MPA chairman Lucien Wong at the International Chemical and Oil Pollution Conference
Scorpio Bulkers sells seven newbuilds Scorpio Bulkers continues to whittle down its enormous orderbook in the face of depressed rates, selling seven newbuild contracts for USD290 million. On 21 April the Emanuele Lauro-chaired company sold three Capesize newbuilds by Daewoo Mangalia in Romania for deliveries in 4Q15 to 2Q16, a
Compatriot company to acquire RSHI shipyard A Chinese company listed on a stock exchange in China has been identified as a potential purchaser to acquire relevant assets and liabilities of Jiangsu Rongsheng Heavy Industries, a key shipyard owned by China Rongsheng Heavy Industries Group (RSHI). RSHI is further negotiating with the potential
Sewol salvage planned for September Work to hoist capsized ferry Sewol could begin in September, said South Korea's Ministry of Public Safety and Security on 22 April, after a meeting with relevant government agencies. The ministry was formed in November 2014 to take over the work of the Ministry of Oceans and Fisheries and Korea
AVIC to acquire Shanghai Catic Industrial for $33.3m Singapore-listed shipbuilding and trading company AVIC International Maritime Holdings has entered into sale and purchase agreement to acquire logistics company Shanghai Catic Industrial for SGD45 million (USD33.3 million). Currently, Shanghai Catic Industrial's equity is held by AVIC Investment at
Sembcorp Marine secures $41.4m contract Singaporean offshore services provider Sembcorp Marine has secured the floating storage and offloading (FSO) conversion contract worth SGD56 million (USD41.4 million) from Teekay for the Gina Krog field in the North Sea. The contract was signed by Sembawang Shipyard, a wholly owned subsidiary of
Bulker scrappings hit record high in March The demolitions of dry bulk carriers hit a monthly record high in March, an analyst revealed. Speaking at Sea Asia on 21 April, Braemar ACM shipping analyst Peter Malpas revealed that over 5 million dwt of dry bulk tonnage was scrapped in March. "If I look at the total amount of scrapping in the
KGs back within three years, says Hansa Treuhand But higher thresholds and tougher rules will elbow out smaller investors, according to Hermann Ebel
Arms race of ultra large containerships will not end, says OOIL Bigger ships have become a must for carriers to compete with their rivals
Ferry operators seek go-ahead to restart US-Cuba services United Caribbean Lines is among handful of companies to apply for a licence
Aronnax: A new ship type is born All hail the giant deepsea mining vessel, set to help reap rare and expensive metals from the seabed
German shipowners call for massive expansion of Mediterranean rescue efforts Berlin and EU urged to step up support for merchant shipping and Italian coastguard as migrant numbers swell to unprecedented numbers
Standardised box shipping contract launched Global Shippers' Forum and BIMCO launch their Servicecon agreement at the Global Liner Shipping Conference
Nanjing Tanker declares success of court-ordered restructuring Tanker arm of Sinotrans & CSC returns to black for first quarter while selling 19 VLCCs
ICS and green lobby groups battle over eco-ship claims War of words over impact of EEDI and how to improve shippings CO2 footprint heats up
Carriers continue to struggle with African schedule reliability SeaIntel study shows little improvement in schedule and container delivery in past three years
Rongsheng changes name, plays game over suitor's identity Takeover from Yangzijiang ruled out for now as CSSC unit comes under spotlight
Farstad's new man backs out of job Finn Amund Norbye accepts job, then turns it down after second thoughts
NSB in industry first with widening of panamax boxship trio Three ships chartered to MSC are being expanded from 4,860 teu to 6,300 teu in pioneering project
West Africa to Asia fixtures add spice to VLCCs West Africa and South America fixtures to Asia rise, changing face of very large crude carrier industry
BHP Billiton puts key Port Hedland project on hold Miner says there is no rush to boost capacity at Australia's largest iron ore terminal
Hapag-Lloyd boss endorses Daily Maersk concept Habben Jansen blames failure of innovative product on shipper inconsistency over what they are wiling to pay for
Bad weather still affecting New South Wales ports Kembla remains closed, while entrance to Newcastle is still restricted
Banks favour eco-ships HSH Nordbank and KFW-Ipex Bank say eco-ships are less risky loan investments and confirm two-tier market
Ports welcome US advances in cybersecurity WASHINGTON - Progress is being made to protect the U.S. maritime industry from cyberattacks that could sabotage a container terminals cranes and allow organized crime to import illegal drugs undetected. U.S. government and the larger international response to the threat of cyberattacks have been found lacking by industry insiders and analysts. But that's...
Truckload rates rise 5 percent in March, intermodal prices slip A key measure of truckload pricing shot up 5.1 percent year-over-year in March and rose 2.3 percent from February, an indication freight demand and transport costs were rising at the end of the first quarter, despite widespread reports of slower U.S. economic growth. The Cass Truckload Linehaul Index, a measure of...
Domestic intermodal growth helps drive CP to record profit Amid investors' furor over the decline in crude shipments hauled by Canadian Pacific Railway in the first quarter were signs that the railroad's domestic intermodal push is gaining traction and CP is emboldened to make a stronger play for ocean container business. A 4.8 percent increase in total intermodal traffic helped...
Southeastern Freight Lines Receives Lowe's Top Carrier Award for the 8th Straight Year LEXINGTON, S.C. (April 22, 2015) - Southeastern Freight Lines, the leading provider of regional less-than-truckload (LTL) transportation services, has been named Lowe's 2014 LTL Carrier of the Year. In addition, Southeastern also received Lowe's Platinum Service Award for 2014, which is the highest award designation possible for the home improvement...
Kraft Foods Recognizes C.H. Robinson for Exceptional Service and Capacity EDEN PRAIRIE, MN, (April 22, 2015) - At its annual carrier conference in February, Kraft Foods honored C.H. Robinson with their "2014 Partnership Award," noting the logistics company's ability to find capacity and offer innovative solutions to manage incremental freight.With extreme weather conditions and capacity issues complicating the logistics and...
Introducing the Key Staff at Aura Freight Time Shipping, UAE We are pleased to introduce Aura Freight Time Shipping LLC as a new Cargo Connections member representing the UAE. They are located in Dubai and are FIATA members. Their main services include: Freight Forwarding (Air & Sea); Shipping Agency; Customs Clearance & Brokerage. Please click here to download the Aura Freight...
3PL Provider Sunset Transportation expands leadership team to support growth and enhance customer services ST. LOUIS, April 22, 2015 - Sunset Transportation, a St. Louis-based third party logistics provider, announced the expansion of its leadership team with the appointment of Craig Marton as president and COO. Sunset founder, Jim Williams, will become chairman and CEO. This new leadership appointment supports Sunset's double-digit growth over the...
Diversions, new services put Wilmington port on track for record year Wilmington port is on track for a record year in container volume, due in part to a slew of new services connecting North Carolina to Asian markets and some diversions from the U.S. West Coast. Port congestion on the East Coast - the kind seen in Virginia, for example, over the...
As economy slows, truckload carrier Werner gains speed Werner Enterprises didn't slow down for the "soft patch" the U.S. economy slipped into during the first quarter. The truckload carrier today said it increased revenue 1 percent year over year to $495.7 million in the quarter, and raised net profit 61 percent to $23.1 million. Despite slower growth in manufacturing...
US regulators lift obstacle to Horizon Lines breakup, sale The U.S. Federal Trade Commission has removed the last major obstacle to the breakup and sale of Horizon Lines and a major restructuring of domestic ocean services between the West Coast and Hawaii and Alaska. The FTC cleared the acquisition of Horizon's Hawaii service, by Pasha Group, the market's No. 3...
Ocean cargo, logistics elevate Panalpina first-quarter earnings Panalpina's earnings jumped 10 percent in the first quarter as a market-beating increase in ocean container volumes more than offset sluggish growth in air freight. The Swiss global logistics and freight forwarding group booked a consolidated profit of 19.6 million francs ($20.27 million), compared with 17.6 million francs in the first...
Marad reminds US shipbuilders about cargo preference rules The U.S. Maritime Administration has reminded U.S. shipbuilders they must use U.S.-flag ships to carry at least half of the foreign-sourced components they use to build vessels with aid from federal loan guarantees. Marad's advisory comes as maritime industry supporters fight efforts to weaken cargo preference programs that require U.S.-flag vessels...
Service, equipment issues slow KCS intermodal growth Kansas City Southern Railway is scaling back its outlook for intermodal growth this year after service and equipment issues hampered the railroad's ability to boost first-quarter domestic and cross-border traffic. Equipment shortages, maintenance track work, a fierce winter storm that hit the Dallas area, and service issues rippling from the railroads...
Imports and Exports Made Easier with Global Trade Management Software A recent Supply Chain Insights survey found that GTM software yields a clear return on investment and high level of satisfaction. In fact, 67% of respondents reported a ROI of thirteen months. The resulting report, Imports and Exports Made Easier with Global Trade Management Software, takes a closer look at: How effectively respondents are...
German rail freight transport stalls as strike enters second day Rail freight transport has ground to a halt across Germany as a strike by locomotive engineers against Deutsche Bahn, the state-owned railway, enters its second day. The strike, by members of the militant GDL union, in pursuit of higher wages and a shorter working week, is the seventh stoppage in 10...
Robust US-bound exports help Japan swing to trade surplus Japan posted a monthly trade surplus for the first time in nearly three years in March, as exports grew on the back of a weaker yen, led by robust U.S.-bound shipments, while imports tumbled due largely to lower oil prices. Japan's exports to the rest of the world rose for the...
India, Bangladesh update sea trade pact India and Bangladesh agreed to extend an earlier protocol dealing with "inland water transit and trade" cooperation between the two countries, with provision for automatic renewal in line with a proposed amendment to the Bangladesh-India trade agreement, the Indian Ministry of Shipping said in a written statement. The declaration said the decision followed...
Rand bulker grounds A Rand Logistics bulk carrier has run aground off the US state of Michigan.
MSC sticks with Miami MSC Cruises is planning to return to year-round cruising from Miami in November, the cruise line said today.
Orion capesize fixed A capesize owned by Orion Bulkers of Germany has found period work at above the present spot market level.
Juno comes unstuck A Polish Steamship (Polsteam) is sailing under its own power to Toronto two days after running aground in the St Lawrence Seaway.
TEN lines up offering Greece's Tsakos Energy Navigation (TEN) is planning a share sale to raise cash for possible vessel purchases.
Mols-Linien optimistic After posting its first annual profit in seven years, Denmark's Mols-Linien has raised its forecast for 2015.
BW LPG downgraded Clarksons Platou Securities has downgraded shares in VLGC giant BW LPG following a strong run for the stock.
Vitol: no new lows Oil prices have already reached their low point this year, according to trading giant Vitol's chief Ian Taylor.
Tung cools merger talk OOCL chairman CC Tung has downplayed talk of a merger with Singapore's NOL.
Norbye rejects Farstad Finn Amund Norbye has declined Farstad Shipping's offer to take over as chief commercial officer, surprising the market for the second time in five months.
Spill bulker released A Greek bulker blamed for an oil spill off Canada has been released by the Canadian coast guard.
HIT's profit halved Indonesia's Humpuss Intermoda Transportasi (HIT) has seen its annual profit for 2014 squeezed despite an increase in revenue.
Cosco Corp wins FPSO deal Cosco Corporation (Singapore) has won a $95m floating production storage and offloading vessel (FPSO) conversion contract.
No pain, no gain Scorpio Bulkers may have to shoulder losses following the sale of a series of newbuildings but analysts tracking the company say any pain will be worthwhile.
More widening to come? Germany's Reederei NSB is offering to supervise widening work for other boxship owners as work progresses on its own vessels in China.
Precious focuses on ultras Thailand's Precious Shipping is planning to sell or scrap some of its oldest handymaxes to make room for its big newbuilding programme of ultramaxes.
Arms ship set for Cuba A Cosco ship that was found carrying undeclared ammunition has been ordered to sail from Colombia to Cuba for safety reasons.
GSL splashes excess cash New York-listed Global Ship Lease (GSL) is spending spare cash on a bond buyback worth up to $20m.
Rongsheng sale closer The former China Rongsheng Heavy Industries Group has edged nearer to selling its loss-making shipyard operations.
Ocean Yield's NOK 1bn bond Ocean Yield has raked in NOK 1bn ($127m) from its visit to the Norwegian bond market.
Vopak earnings soar Dutch tank terminals group Vopak has increased first quarter earnings as revenue rose.
Vympel wins survey ship Russia's Vympel Shipyard has won a state order to build a small hydrographic survey vessel for the country's defence ministry.
Capital banks $133m Nasdaq-listed Capital Product Partners (CPP) has raised $133m from its latest share sale.
Banks prefer eco-ships HSH Nordbank and KfW IPEX-Bank are said to be using energy-efficiency data in making ship investment and financing decisions.
Skuld recruits March Skuld has named Nicholas March as the new head of its Singapore office, the marine insurance company has confirmed.
Teekay selects SMM Teekay has selected Sembcorp Marine to convert one of its shuttle tankers into an FSO in a deal worth SGD 56m ($41.2m).
Thigpen joins Transocean Transocean has named Jeremy D Thigpen as its new chief executive. He takes up the post effective immediately.
GulfMark shares drop GulfMark saw its stock drop a further 15% in value Tuesday after the company painted a depressed outlook for the sector.
'Further improvements needed' in natural gas technology Methane slip a 'serious problem', says North American natural gas industry hub.
Libyan port reopens As Hariga port workers resolve pay dispute.
BP: High standards key to healthy industry Singapore bunker operation sees growth ahead.
OW Bunker: Bank in move to start collecting outstanding debt However, it is unclear whether the agreement will actually lead to the recovery of cash owing from shipowners.
Trident Alliance: Start debate on enforcing global sulphur cap Industry needs to get the ball rolling on methods, says alliance head.
Case for scrubbers is 'not yet strong enough' But Lloyd's Register says 2018 could be a key date.
Global bunker consumption set to rise, says analyst 'Over the last decade, demand has been restrained by high bunker costs.'
Banks line up behind 'eco' tonnage German ship finance players say eco-ships constitute less risk.
Caribbean oil terminal plan put on hold Government has given 'no commitment' on project, official says.
Container ship operator buys fuel-saving tool To 'optimise' fuel efficiency across fleet.
BP Singapore wins MPA bunker award Recognition was presented at the Singapore International Maritime Awards 2015.
New fuel-saving engine technology enters market Device claims up to 20% fuel savings on boxships.
Industry split on future of shipping Impact of low freight rates, oil prices and over-tonnage topics of discussion at conference.
Myanmar port plan to get green light Development deal expected to be signed in June.
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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