Carnival continues Chinese expansion NYSE-listed Carnival Corp has signed a deal with China State Shipbuilding Corporation (CSSC) to create a Chinese domestic cruise line. The partnership, unveiled at a signing ceremony in London on 21 October, aims to accelerate the growth of China's domestic cruise industry. This is a market
Damen moves 22 ships in single load Dutch shipbuilder Damen Shipyards Group has just completed its largest-ever shipment of completed ships, bringing 22 vessels from Asia to Europe in a single load aboard heavy-lift vessel Happy Star. Happy Star began its journey in Shanghai but took on additional vessels in the Vietnamese ports of
DSME's debt ratio could exceed 4,000% as greater loss expected Embattled South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering's (DSME's) debt ratio could be higher than 4,000% as its full-year loss for 2015 could be worse than earlier predicted. Following due diligence by its major creditor and shareholder Korea Development Bank (KDB), it was
ICBC clinches $869m ship-leasing deal with BP Chinese state-owned bank ICBC has clinched a deal with oil giant BP worth USD869 million for the 10-year lease of 18 oil tankers. The leasing contract is reported to be the biggest financial deal completed by BP Shipping, BP's maritime unit, and was signed yesterday with ICBC Financial Leasing. BP
HMM plots cruise comeback Hyundai Merchant Marine (HMM), which has been working to boost its liquidity, could return to the cruise business in 2016. The company, whose core business is container shipping, recently divested its LNG, dry bulk and US container terminals and other assets as part of a move to raise KRW3.3
Hyundai Mipo expected to return to profitability for 3Q15 South Korean shipbuilder Hyundai Mipo Dockyard (HMD) is expected to post a profit for the third quarter of 2015 (3Q15), a year after it suffered its worst ever quarterly result, an analyst has forecast. KDB Daewoo Securities analyst Sung Ki-jong said that HMD has overcome the problems that caused
Piracy monitor reports incidents up by 25% Singapore-based anti-piracy agency, ReCAAP Information Sharing Centre (ReCAAP ISC) has recorded a total of 161 incidents of piracy and armed robbery against ships in Asia during January-September 2015. The total incidents for January-September 2015 reports marked a 25% increase year-on-year as
Hong Kong approves measures to ease port congestion The Hong Kong government is taking a series of measures to enhance the use of back-up land at the Kwai Tsing terminals, which it believes will alleviate port congestion and improve cargo handling efficiency and overall competitiveness of the Port of Hong Kong. Four sites totalling 15.2 ha in size
Atlas Iron ramps up production Atlas Iron in Australia's Pilbara Port announced on 22 October that it has boosted iron ore production by 72% in the September quarter. The mining company was forced to shut down operations last year when the price of iron ore collapsed, leading to fears that the market slump was going to severely
Singapore pushes for R&D to become next-generation port Singapore will pursue world-class research and development (R&D) projects to be a "next-generation port". Maritime Port Authority of Singapore (MPA) CEO Andrew Tan, addressing about 200 participants at the 5th Singapore Maritime Institute Forum, said the port should not be complacent after being
Shanghai needs more reforms to become international shipping centre Local research body urges more government efforts in policy innovation, tax reduction and ship emission control
Finance chief says Vale may sell more valemaxes Brazil's mining giant still positive on China
Pappas to seek Supreme Court appeal in OW Bunker test case Ruling could mean bunker suppliers rewrite terms of business, says Robert Bright QC
Hyundai demands $167m payment from Fred. Olsen Energy Fred. Olsen Energy says South Korean shipbuilding giant's claim is unfounded as legal spat ratchets up
Sembmarine revenue and profit tumble Depressed offshore exploration market weighs on rigbuilder's results
Court of Appeal upholds OW Bunker Sale of Goods Act ruling Crucial test case goes against Pappas affiliates backed by UK Defence Club
DNB cuts loan volume on special monitoring Positive trend for shipping in third quarter, says industry's biggest lender
Singapore mulls two-tiered terminals for Tuas port development Underground storage for high value added items also under consideration
Wärtsilä results reflect market uncertainty Orders down for Finnish engineering firm as market sentiment on technology and newbuildings drops
Maersk forges maritime alliance with Indonesia Pact to bolster development of eastern Indonesia
Mauritius' 1m tonne bunker hub target 'ambitious' Restrictions to export growth remain, says Total Marine Fuels global sales and development director Frédéric Vazzoler
Second lawsuit filed against Tote Family of deceased third mate Jeremie Riehm did not specify how much it was seeking in damages
Carnival plans China cruise brand Joint venture with Chinese partners to invest $4bn in the first 10 years of the deal
Vietnam to reduce congestion at Ho Chi Minh City ports Maritime authorities to divert ships to underutilised Cai Mep-Thi Vai port
BP and ICBC Leasing sign $869m tanker deal Ten-year bareboat charter for 18 vessels is part of BP's 2012 fleet renewal scheme
BP in $10bn gas tie-up with Chinese power producer Supply of 1m tonnes LNG per year over 20-years underscores China's continued demand for energy supplies
Costamare results beat expectations Greek owner and US hedge fund eye more deals after snapping up two feeders
NY-NJ port authority signs off on GCT Bayonne ship-to-rail facility The Port Authority of New York and New Jersey's board approved an agreement Thursday that will allow construction to proceed on a ship-to-rail facility adjacent to the semi-automated GCT Bayonne terminal. The project will complete the port authority's $600 million ExpressRail initiative to provide all of the port's major marine terminal...
Auto part import growth from Mexico drives steady recovery Cross-border shipments of auto parts from Mexico are outpacing growth in containerized imports through U.S. ports in a market roiled by West Coast port congestion and diversion to air freight during the first half of this year. Mexico's share of the value of U.S. auto parts imports rose to 33.8 percent...
Weak peak season, West Coast diversions hurt UP intermodal Months after the protracted labor negotiations that disrupted port operations on the U.S. West Coast came to an end, Union Pacific Railroad said West Coast diversions were still taking a toll on intermodal volume in the third quarter. Adding to the pain, import demand dropped off in the quarter due to...
Costamare on acquisition trail LONDON - Costamare, the Greek charter containership owner, said it is on the acquisition trail as it unveiled lower third-quarter income and revenue. The NYSE-listed company booked net income of $34.8 million in the three months through September, down from $37 million a year earlier, on voyage revenue of $124 million...
TPM 2016
Time to get on-dock rail on track There's one potential solution to the congestion the ports of Los Angeles-Long Beach and New York-New Jersey face that rarely gets discussed amid talk of chassis pools, truck appointments and extended gate hours. It would relieve pressure on terminal gates, on chassis and on drivers. Though it would involve investment,...
Eurotunnel freight down a third on migrant crisis LONDON - The number of freight trains using the tunnel between the U.K. and France declined by 33 percent in the third quarter largely due to the migrant crisis at the port of Calais. Eurotunnel, the operator of the tunnel, said rail operators were periodically forced to suspend traffic overnight as migrants attempted...
Gati profit plummets on higher operating costs Gati Ltd., India's leading express distribution and supply chain solutions provider, reported its group net profit in the second quarter of fiscal 2015-16 fell 16.5 percent year-over-year to $892,000 from $1.07 million. Total operating revenue during July to September fell 1.7 percent from a year earlier to $62.4 million, the company...
Greek ports face two days of stoppages from towage union strike HONG KONG - Two days of strike action by towage workers will bring ship movements in Greek ports to a standstill Thursday and Friday, Inchcape Shipping Services has warned.The maritime and cargo services company said in an advisory to customers that work stoppages announced by the Crew Union of Towage...
China's huge Singles Day shopping festival to test logistics network HONG KONG - China's logistics and courier services are preparing for Alibaba's annual Singles Day online shopping frenzy on Nov. 11 that last year saw 278 million orders placed in just 24 hours and sorely tested the mainland's distribution network.The e-commerce giant this year expects the Global Shopping Festival, as...
Maersk inks deal to grow cargo flows in Indonesia's remote east A Maersk Line ship at eastern Indonesia's Bitung port.HONG KONG - The Maersk Group today signed a letter of intent with the Indonesian government to improve the flow of cargo through the eastern port of Bitung and speed up maritime and economic development of the under-served region. Indonesia's ministries of...
China's huge Singles Day shopping festival to test logistics network HONG KONG - China's logistics and courier services are preparing for Alibaba's annual Singles Day online shopping frenzy on Nov. 11 that last year saw 278 million orders placed in just 24 hours and sorely tested the mainland's distribution network.The e-commerce giant this year expects the Global Shopping Festival, as...
Port operators lukewarm to latest Hong Kong congestion reduction effort HONG KONG - Hong Kong government measures to enhance the use of back-up land at its Kwai Tsing terminals, which it hopes will alleviate congestion and improve cargo handling efficiency and competitiveness of Hong Kong, have drawn a lukewarm response from port operators.Container terminal operators welcomed the measures but noted...
Maersk inks deal to grow cargo flows in Indonesia's remote east A Maersk Line ship at eastern Indonesia's Bitung port.HONG KONG - The Maersk Group today signed a letter of intent with the Indonesian government to improve the flow of cargo through the eastern port of Bitung and speed up maritime and economic development of the under-served region. Indonesia's ministries of...
Panel: bulkers' pain to last for several years Executives from bulker firms see long downturn as capacity remains too high, and resale values depressed.
Brazil panel votes for deeper yard probe Petrobras inquiry calls for closer look at Keppel, SembCorp Marine and Kawasaki Heavy.
GATX puts laker owner ASC up for sale Railcar leasing company plans to divest American Steamship Co as revenue and earnings fall.
Cash set to flow from Avance, analyst says Danske Bank says 25% of its market capitalisation could be paid out by early 2015.
OW: London appeal case upheld Shipowner bringing case does not have title to bunkers.
Fuel oil stocks up 40% year-on-year Singapore stocks climb week-on-week.
Gibraltar: Offshore LNG bunkering challenge Call for safety report ahead of LNG bunkering.
ECAs: 'Penalties have to be tougher' 'At the moment there is a huge incentive for ship owners to be non-compliant.'
Profit up for Wartsila But engine maker reports fewer orders.
Infrastructure could thwart Mauritian bunker ambitions Floating storage an option.
Dry Bulk: 'Don't look for an increase in freight rates' 'Bulk freight operators should focus on cutting costs.'
Sulphur and other shipping regulations 'increase CO2' 'One regulation will have a negative impact on the other' says shipping executive.
Emissions: Unpredictability of politicians is 'truly frightening' Rift between politicians and shipping industry players over emissions is becoming increasingly raucous.
NOAA vessel upgraded with fuel tracking system Fifth NOAA vessel using VFMMS, says Krill Systems spokesman.
Georgian bunker player seeking international partner To develop physical supply market.
EU official: Shipping must take its fair share of CO2 cuts Says it is naive to think necessary global CO2 reduction can be achieved if aviation and shipping are left out of Paris deal.
Zeebrugge plays 'leading role' in LNG bunkering Port has been a gas hub for over 27 years, says APMT spokeswoman.
Crude decreases as US output falls US production 'is almost back down to the level pumped in November 2014'.
LNG-fuelled ConRo vessel construction reaches milestone LNG bunker tanks fitted onto vessel at VT Halter Marine shipyard.
Bunkers International brings vessel to court Singapore-based shipowner involved in dispute.
Crude decreases as OPEC mulls reducing US output US production 'is almost back down to the level pumped in November 2014'.
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