Marathon buys tanker JV interests Marathon Petroleum has taken over Aker Philadelphia's stake in a Jones Act product tanker joint venture (JV) with Crowley Maritime. The transaction relates to the operation and chartering of four 50,000 dwt product tankers under construction at Aker Philadelphia Shipyard Inc (APSI), to be delivered
Bauxite risk prompts regulator response The International Maritime Organization (IMO) has issued a safety circular on the carriage of the mineral bauxite, warning masters of the possible danger of liquefaction. The advice has been issued by the Sub-Committee on Carriage of Containers and Cargoes after considering the findings of the Bulk
EU approves state funding for Finnish LNG bunker station The European Commission has approved Finnish government plans to grant EUR23.44 million (USD26.11 million) towards the EUR81 million total cost of building an LNG bunkering terminal at Pori on the Nordic country's west coast. The commission said that the grant was compatible with European Union
Carnival boasts record quarter NYSE-listed Carnival Corp has posted higher than expected profits and is poised to benefit from a lengthening booking curve. The cruise giant reported net income of USD1.2 billion for the third quarter of 2015 (3Q15), unchanged from 3Q14. Excluding non-cash items, adjusted net income was USD1.4
Sinokor starts direct calls to India From 2 October, Intra-Asia container shipping specialist, Sinokor Maritime, will begin direct services from South Korea to India through slot swaps with Hyundai Merchant Marine's (HMM's) CIX service to Nhava Sheva and Pipavav. Five 5,000 teu ships are deployed to the service. HMM contributes three
Winter surge starts for oil tankers Freight rates for VLCCs have surged by 15 Worldscale points since last week as chartering for October sailings gets under way. On 21 September, the Baltic Dirty Tanker Index assessed the benchmark Gulf-Far East rate at W63, or USD68,000/day, up from W48 on 14 September. A Singapore-based broker
HHIC cancels bulker orders South Korean shipbuilder Hanjin Heavy Industries and Construction (HHIC) said on 22 September that it has terminated orders for two Capesize bulkers after the customer defaulted on a payment instalment. The ships were ordered for KRW116,252,770,000 (USD109.5 million), working out to about USD55
Analysis: The new tier of crew on high-tech ships A new tier of personnel for technologically advanced ships might steal the cream of maritime jobs from seafarers. Seafarer skills have always had to evolve to meet the advancement of technologies deployed on board. This evolution presents the challenges of training to ensure on board safety and, as
Qingdao port throughput up during January-August China's Qingdao port handled 336 million tonnes of cargo during January-August 2015, up 4.45% year on year, showed data released by the port authority on 18 September. The port has completed 70.4% of its targeted cargo throughput, and its container volume during the same period stood at 11.5
Kleven wins cable layer order from ABB Kleven Maritime, the privately owned Norwegian shipbuilding group, said it has won an order for an advanced cable layer from ABB, the Swiss-Swedish electrotechnical giant. The ship, which is a SALT 306 CLV design by Salt Ship Design and Kleven itself, will be 140 m in length and it will be
Husky terminates $1bn contract with Seadrill Seadrill, the London-based listed company in the centre of John Fredriksen's drill ship and rig operations, said in a statement it has received a notice of termination of a contract worth up to USD1 billion from Husky Oil Operations. Husky was due to hire the West Mira rig for up to five years, but
Sinotrans & CSC plans to place order for two MR tankers with options for another two Sinotrans & CSC plans to place an order for two medium-range (MR) tankers with options for another two at Guangzhou Shipyard International, which will be bareboat-chartered to the group's subsidiary Nanjing Tanker. The newbuilds will renew Nanjing Tanker's old MR tanker fleet and adjust the fleet's
Triton Investments to acquire struggling Singapore rig owner Struggling Singapore-based rig owner Jasper Investments said on 21 September that it will be acquired by compatriot investment holding company Triton Investments. Triton, together with another investment holding company, Polaris Nine LLP, have bought 80.77% of Jasper. Triton and Polaris Nine paid
Capital Product Partners takes delivery of 10,000 teu containership Daewoo-built, eco-flex, wide beam containership chartered to CMA CGM for five years at $39,250 per day
Maersk issues $1bn of bonds Proceeds to be used for 'general corporate purposes'
Yard Talk | China's shipbreakers take a hammering Falling steel price and lower cost South Asia rivals make many businesses unsustainable
Hyundai Mipo wins order for four PCTCs Undisclosed owner to pay $311m for quartet of 7,500 ceu vessels
Yiyang Zhonghai Shipyard up for sale at $27.8m Shipyard recorded a net loss of Yuan23.2m in 2014
Aker Philadelphia sells product tankers interests US shipyard makes shipowning exit
Hainan Strait Shipping plans $314m in acquisitions The deals include a new ro-ro passenger terminal in Hainan
Diana Containerships sells panamax for demolition Sixth panamax vessel sold since 2013
Solstad Offshore clinches three charter contracts Oslo-listed offshore vessel operator secures charters with Chevron North Sea and others
Safe Bulkers raises $92.1m in sale and leaseback deal for four kamsarmaxes Polys Hajioannou-led company will in effect borrow $92.1m for 10 years at an annual interest rate of 7%
Aker Philadelphia celebrates keel laying of fourth joint-venture ship Vessel is last of four Jones Act product tankers being built in association with Crowley Maritime
Truck tonnage dips in August as retailer stocks remain high For-hire trucking demand cooled in August, but was still higher than a year ago, according to the American Trucking Associations. Seasonally adjusted for-hire truck tonnage fell 0.9 percent from July to August, but was up 2.1 percent year-over-year, according to the ATA For-Hire Truck Tonnage Index. Year-to-date tonnage through August was up...
Schneider names new COO, lays out future plans Mark Rourke has been named executive vice president and COO of Schneider, the second-largest truckload carrier in the U.S., as the company tries to position itself for upcoming government regulation and acquisitions. Rourke joined the company in 1987 and has served variously as president of truckload services, general manager of Schneider...
Hours-of-service restoration put in doubt FORT LAUDERDALE, Florida - A representative for the U.S. Federal Motor Carrier Safety Administration offered little confidence that Congress would be reinstating the agency's controversial hours-of-service rules next year. "My words are 'It is what it is,'" Jack Van Steenburg, assistant administrator and chief safety officer at the FMCSA, told attendees...
Industry groups to seek FMC action on demurrage, detention FORT LAUDERDALE, Florida - A coalition of truckers, cargo interests and trade organizations is preparing to ask the U.S. Federal Maritime Commission to restrict charges for late pickup or delivery of containers. "I think we're very close to that happening," said Curtis Whalen, executive director of the American Trucking Associations' Intermodal Motor...
New Asia-Europe GRI, blanked sailings as carriers fight excess capacity Hapag-Lloyd's October general rate increase and void sailings by CMA CGM in the same month suggest that carriers are failing to make rate increases stick on the oversupplied Asia-Europe route despite having issued more than 10 GRIs this year. The first sign of trouble was a 22 percent drop in the...
Technology is key to future capacity, FTR's Perry predicts New digital tools and technologies will unlock shipping capacity in the not too distant future, turning current concerns about shortages on their head. A surge in productivity will result from more efficient utilization of current capacity, transportation economist Noël Perry believes. "We're on the cusp of a productivity revolution," Perry, a...
Association of carrier agents claims APMT Mumbai is violating concession The Federation of Ship Agents' Association of India, representing ocean carrier agents, claims APM Terminals-operated Gateway Terminals India may be violating its concession contract with the port authority, causing off-and-on labor disruptions at Jawaharlal Nehru Port Trust, India's biggest container gateway. The association stated in a letter to the Ministry of Shipping...
Taiwan exports orders contract for fifth month running HONG KONG - Taiwan may have to count on demand for new Apple products in the fourth quarter to boost exports that in August contracted for the fifth consecutive month, according to the island's economic affairs ministry.The ministry reported that if counted in U.S. dollars, the export orders amounted to...
Ports not ready to handle rising intra-Asia trade, carriers warn HONG KONG - The greatest risk facing container lines in the intra-Asia trade is port infrastructure that will struggle to support growing volumes in the region, said Tim Wickmann, chief executive of MCC Transport.Carriers expect container volumes to grow in the intra-Asia trade as a fast-growing middle class drives economic...
US intermodal experts say restoring service will take whole supply chain More than a year after the brutal 2013-14 winter roiled U.S. intermodal networks, service reliability and consistency still hasn't rebounded entirely. Railroads are investing billions in their networks, but some suggest it will take a whole-of-supply-chain approach to restore service, one that includes investment from rail, drayage, trucking, ports, logistics...
Ports not ready to handle rising intra-Asia trade, carriers warn HONG KONG - The greatest risk facing container lines in the intra-Asia trade is port infrastructure that will struggle to support growing volumes in the region, believes Tim Wickmann, chief executive of MCC Transport.Carriers expect container volumes to grow in the intra-Asia trade as a fast-growing middle class drives economic...
Taiwan exports orders contract for fifth month running HONG KONG - Taiwan may have to count on demand for new Apple products in the fourth quarter to boost exports that in August contracted for the fifth consecutive month, according to the island's economic affairs ministry.The ministry reported that if counted in U.S. dollars, the export orders amounted to...
Next threat to truck capacity: technician shortage The oft-cited truck driver shortage isn't the only labor shortage that threatens shipping capacity. A shortage of qualified truck technicians also could keep trucks requiring maintenance or broken down on the sidelines and off the highways, the American Trucking Associations warns. "In our industry, we often talk about the impact of...
Home Depot opens largest e-commerce fulfillment center To support fast-growing e-commerce sales, The Home Depot last week opened its third direct fulfillment center dedicated to processing and delivering online orders. The 1.6 million-square-foot DFC in Troy Township, Ohio, will help the $83.2 billion retailer fulfill an "interconnected" retail strategy that blends online and brick-and-mortar sales. Part of that plan...
It's time for logistics to 'Uberize,' say industry experts FORT LAUDERDALE, Florida - When it comes to the business of moving goods from one point to another, there's one firm that insiders say is shaking up the logistics industry - and it's not even in logistics. "It's all about Uber," Brett Parker, co-founder and president of Cargomatic, told attendees Monday...
MR spike short-lived A plunge in rates for shipments out of the US Gulf has pulled the rug out from under last week's jump in medium-range (MR) products tanker rates in the Atlantic market.
Shipping joins stock slump New York-listed shipping stocks took a downward step Tuesday as global shares sank sharply across the board.
'Owners really like candy' JP Morgan has raised concerns about owners developing a sweet tooth for tanker newbuildings.
Ferry breaks the internet A grounded ferry has taken out power and internet in a Norwegian town after destroying a cable.
Carnival shines in third quarter Carnival Corporation trumpeted a record third quarter result today with chief executive Arnold Donald confident the giant owner can hit its long-term profit target.
Lloyd Fonds keeps tanker Hamburg finance house Lloyd Fonds says investors have opted to retain a panamax tanker after returns soared.
Huanghai wins another China's Shandong Huanghai has clinched its second order for a domestic ferry in a month.
SAL in special shipment Hamburg-based heavylift operator is shipping US navy vessel to work in the energy sector.
The TradeWinds 25 anniversary quiz
Kalavryta offloaded US court ruling puts obstacle in Kurdish export plans as MMS tanker discharges disputed cargo.
NAT: more to follow Herbjon Hansson's Nordic American Tankers stuck to its script of fleet growth and higher dividends as it took in the first of two recent acquisitions today.
Twist of the trade The guys who dig stuff up, pump it out or harvest it have been rethinking their attitude to shipowning, as Julian Bray explains
No contact with crew There has been no contact with seafarers on board a Russian tanker arrested in an oil-smuggling row in Libya, according to Russian authorities.
$650m for Bunker Holding Bunker Holding has secured a new loan worth $650m, increasing its borrowing capacity by 50%.
Ro-ro scuttled off Chile After a huge salvage operation lasting a year, the Navimag ferry Amadeo I has been towed out to sea and sunk off Chile.
Fredriksen ships out suezmax John Fredriksen has continued the renewal of his tanker fleet with the sale of a suezmax tanker.
Intermarine's new man Intermarine has appointed a new boss for its chartering division in Europe.
Dof taps Vard for PSV Dof Management has chartered a newbuilding owned by yard group Vard Holdings for an Australian contract.
Hanjin chops capes Hanjin Heavy industries & Construction has cancelled a contract for two capesize bulkers after an owner failed to make payment.
Vinalines selling again Vietnamese shipowner Vinalines has won state clearance to further reduce stakes in two port subsidiaries.
SCI's new director Shri Kher joins the board of Indian shipowner with effect from next month, replacing Sunil Thapar.
Danske a buyer of Golar Partners A promise of lucrative dropdowns from its parent company has helped Golar LNG Partners win an initial buy rating from Danske Bank.
Mipo nets four more Hyundai Mipo Dockyard has chalked up its second car carrier order in quick succession.
ARS wants a cut Argentina's Rio Santiago Shipyard (ARS) is pleading to be part of the government's new shipbuilding drive.
Billionaire for Bumi? Indian tycoon Shapoor Pallonji Mistry has been linked to an investment in FPSO owner Bumi Armada.
More Maersk US bonds AP Moller Maersk has returned to the US bond market for the second time in a little over a year to raise $1bn.
Marathon buys Aker tankers Aker Philadelphia Shipyard (AKPS) has completed the sale of its shipping assets in a deal with Marathon Petroleum Corporation.
Husky bins Seadrill deal Husky Oil Operations Ltd has cancelled its drilling contract with John Fredriksen's Seadrill, the rig owner confirmed Tuesday.
China steel output falls Levels of steel production in China fell by 3.5% last month as global steel output went into reverse.
PTP sets throughput record Malaysia's Port of Tanjung Pelepas (PTP) has set a new throughput record handling some 800,000-teu in August.
DOF leads PBR DSV race DOF Subsea has reportedly emerged as the favourite to secure a lucrative contract from Petrobras for a dive support vessel.
FAME-free LSMGO boosts BC bunker firm's business Truck to ship operation volumes climbing due to ECA-compliant product availability.
2017 start for LNG bunkering in the Baltic Service to have one bunker tanker.
DSA: Don't let sulphur cheats escape Fears ships sailing through ECAs without calling at port will ignore regulation to save money.
Carnival in profit Strong quarter despite 'a slight drag from the net impact of fuel prices and currency'.
Paying OW or ING won't stop suppliers arresting ships Talking up significance of London court case 'just propaganda from the OW estate', supplier tells Platts Bunkerworld.
Profits up at Brightoil But bunkering revenue falls on softer pricing.
ICS delivers shipping message to Paris climate negotiators Says global shipping 'is already delivering carbon neutral growth'.
Bunker Holding ups loan access Move coincides an envisaged 'greater role in industry'.
Grounded vessel to be debunkered Vessel ran aground off Sweden's west coast on September 19.
Titan Petrochemicals enters third stage of delisting procedure HKSE requires company to submit a viable response by March 15, 2016.
ENOC 'encouraged' to grow Singapore business Group upbeat on prospects for Singapore fuels facility and supply businesses.
Cosco recognised for sustainability efforts Company vows to continue focus on 'sustainable development' moving forward.
Crowley assists with LNG-fuel safety training For first responders and port stakeholders.
US shipyard lays keel for LNG-ready product tanker Vessel is being built for Crowley Maritime Corp.
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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