VARD secures bareboat charter for PSV Singapore-listed Norwegian offshore vessel builder VARD Holdings has won a bareboat charter contract for one of two platform supply vessels that had their original shipbuilding contracts terminated early this year. The vessels, of VARD 1 08 design, were delivered from Vard Vung Tau in Vietnam and
DSME bosses deny corruption fuelled huge losses Daewoo Shipbuilding & Marine Engineering's (DSME's) CEO and his two predecessors are denying that misconduct led to its recently announced loss of KRW3 trillion (USD2.5 billion) from offshore plant orders. CEO Jung Sung-leep has been testifying, along with Ko Jae-ho and Nam Sang-tae, to an enquiry
Exmar-Flex LNG merger falls through A plan to merge the LNG carrier interests of Exmar, Flex LNG, and Geveran Trading has been scrapped, according to a statement from Flex LNG. Although the tie-up had been announced in July, it has now fallen through because the parties have failed to agree on terms, said the Oslo-listed company, in
Sinopacific clears up Dayang Shipyard wage dispute Sinopacific Shipbuilding Group has resolved a confrontation with subcontracted workers at Dayang Shipyard over unpaid wages, says the shipbuilder. Due to the company's recent equity restricting and overhaul of management procedures, the workers had experienced an unannounced delay of a few days in
Wild weather disrupts Port Botany shipping Wild weather and heavy seas shut down Australia's Port Botany terminal today (23 September) with the Bureau of Meteorology (BOM) issuing a marine wind warning for the Sydney, Hunter and Illawarra coasts until midnight tomorrow. NSW Ports Authority suspended pilotage for Port Botany and Sydney
Q4 shortsea expectations rising Operators of minibulkers and general cargo vessels in the intra-European trades see some light at the end of the tunnel after a slump in freight rates since the earlier part of the year. "Last week really showed significant improvement in both volume and general activity with owners suddenly seeing
Nicaragua Canal start delayed again Construction on the USD50 billion Nicaragua Canal will not begin until the first quarter of 2016 due to new environmental mitigation measures, according to a high-ranking government official. Paul Oquist, executive director of the Nicaragua Grand Canal Commission, said that UK-based Environmental
China Merchants Energy Shipping, Dynagas, Sinotrans Shipping to build Arctic LNG carriers China Merchants Energy Shipping (CMES) on 21 September announced that its subsidiary China LNG Shipping (CLNG) has teamed up with Greek-based Dynagas and compatriot Sinotrans Shipping to build five Arctic LNG carriers for the Yamal LNG project. Dynagas, CLNG, and Sinotrans Shipping have a shared
Brightoil Petroleum profit up 131% Hong Kong-listed Brightoil Petroleum's profit increased 131% year on year (y/y) to HKD1.39 billion (USD179.4 million) for the year ended 30 June because of gains on derivative financial instruments. During the period, Brightoil Petroleum gained HKD1.24 billion on fair value change of derivative
Panamax rates recover slightly on week Rates recovering from three-month low with futures in contango on anticipation of active start of US grains season.
Danaos Corporation purchases three Japanese post-panamaxes through joint venture The newly formed entity, Gemini Shipholdings Corp, is 49% owned by Danaos with the rest owned by John Coustas family
Greece restores stand-alone shipping ministry Dritsas returns as minister but must immediately grasp bailout dilemmas
US to open new LNG shipping trade lane in December Cheniere confirms first cargo to be shipped out in December, as wider industry doubts over LNG demand swirl
Muddy waters for supramax vessels September slide continues but owners look for hope from US grain exports and Indian coal imports
Pacific ports winning the battle for transpacific trade Surge in US west coast traffic and slower box growth at Atlantic ports suggests that east-west split of transpacific trade is returning to 'normality'
Höegh confirms weapons found on car carrier in Kenya Undeclared UN weapons found in peacekeeping vehicles
China's One Belt, One Road initiative will drive port infrastructure development in Southeast Asia China's AIIB will complement the One Belt, One Road initiative
Seanergy scores fleet expansion loans with four banks Renascent owner posts small loss as equity and debt finance raised to support seven-ship acquisition
ACE gives Littooij small vessels responsibility New role for marine insurance veteran
AGCS unveils Kirwan as chief executive Promotion for London communications chief
Sinotrans & CSC to book two MR tankers Vessels will be bareboat chartered to Nanjing Tanker for five years
Contrast in fortunes for transatlantic trades Strong US dollar helps westbound volumes surge, as continuing weaknesses in the Eurozone dent eastbound box numbers
d'Amico firms LR1 options at Hyundai Mipo European owner orders tanker pair for $86.7m
Fredriksen might have backed away from LNG merger due Exmar's counter-party risks Arctic Securities says $2.3bn deal could have fallen through mainly on financial woes at Pacific Rubiales
Tianjin Port Development first-half profits rise 27% Drop in commodities sales volumes are mitigated by lower cost of sales
Incat Tasmania's Hobart Shipyard secures contract for six ferries Ferries will operate on Sydney's Inner Harbour
Swire Pacific Offshore announces changes in senior leadership Swire Pacific Offshore picks former Cathay Pacific executives to fill managing director, finance director roles
Wouter Huybrechts appointed as new head of Rickmers-Linie America Mr Huybrechts will retain his post as managing director of the company's Belgium operations along with his new role
Panama Marine Authority approves Transas e-Logbook Move means ships will be able to use the e-Logbook over the traditional paper logbook
Nordic American Tankers takes delivery of 2010-built suezmax Nordic Light is the first of two sistership suezmax tankers acquired en bloc for $122m
Tampa joins reefer pilot program Florida's Port Tampa Bay joins the ranks of other U.S. Southeast ports that will soon be able to handle direct imports of select cold-treated produce from South America, bringing new business to the Sunshine State and cutting logistics costs for produce shippers. Via a recent federal go-ahead, next month, Tampa will...
Driver shortage to get worse, Werner's Leathers warns shippers If there's a solution to the long-term shortage of truck drivers, it will take a supply chain to find it, a leading trucking executive suggested last week. Shippers and carriers need to work together to build a bigger driver pool, and they're facing serious demographic headwinds. "The problem is going to...
Walsh agrees to resign as Port Canaveral CEO John E. Walsh, who launched an ambitious expansion program but this month apologized for referring to local opponents of a rail line project as "Luddites", is being forced out as CEO of Port Canaveral. His last day at the Florida port will be Jan. 21. The resignation agreement was approved by port...
DHL Express USA expands US electric truck fleet Despite the low cost of diesel, despite the low cost of natural gas, interest in electric vehicles survives. DHL Express USA is ordering 45 all-electric delivery trucks from Zenith Motors, a manufacturer of electric shuttle vans, powered by a propulsion system from UQM Technologies. The electric truck purchase is a part...
Geodis names two project logistics heads Geodis, the 10th largest global third-party logistics provider, has appointed a new head for its industrial project operations in Southeast Asia and created a similar position in Europe. Igor Muniz, who was previously the head of industrial projects in Southeast Asia will assume the newly minted role of director industrial projects...
European shippers to gain as TNT recalibrates road service to Moscow TNT Express has launched a road service connecting Georgia to Moscow in a bid to cut up to 48 hours of transit time for shippers using the company's European road transit service to reach the Russian capital. The service is effective immediately and connects Russia to TNT's European road network via...
Container shipping future looks bright, Hapag-Lloyd CEO says HAMBURG, Germany - Container shipping has a bright future, despite the current rash of gloomy short-term forecasts, according to the CEO of Hapag-Lloyd. "Don't get completely carried away by the forecasts" which are like stock markets, reacting instantly to every event, Rolf Habben Jansen told about 200 attendees at the JOC...
Jawaharlal Nehru Port adds more trains to clear cargo backlog India's Jawaharlal Nehru Port Trust, which has been hit hard by a series of labor and other disruptions in the past few months, is turning things around with more intermodal services and the introduction of other proactive steps. In a notice to shipping lines and the trade, the country's biggest container...
Nicaragua Canal start delayed again Lake Nicaragua, which will be a major portion of the canal, and Ometepe Island volcanoes.Construction on the $50 billion Nicaragua Canal, which has been wracked by delays, will not begin until the first quarter of 2016 due to new environmental mitigation measures, according to a high-ranking government official. Paul Oquist, executive...
Solid passenger numbers upstage Asia's weak air cargo market HONG KONG - The sustained growth in passenger numbers carried by Asia's airlines is in stark contrast to air cargo traffic that remained weak through the month of August, according to the latest data from the Association of Asia Pacific Airlines.In fact, the rising people numbers are contributing to the...
China manufacturing activity plunges to lowest level since 2009 HONG KONG - China's factory output contracted further in September, falling to its lowest level in more than six years as weak external demand continues to put the brakes on the country's exports.Major container ports in China reported their slowest growth of the year in August, and the steady decline...
Squires to succeed Moorman as NS chairman Credit: vxlaWick Moorman, who retired as Norfolk Southern Railway's chief executive in June, will formally step down from the executive chairman post on Oct. 1. President and CEO Jim Squires, deemed Moorman's successor in all other capacities, will become the railroad company's chairman as well. Moorman will continue to serve as...
Insiders: 'respect' and 'communication' critical to ending drayage issues FORT LAUDERDALE, Florida - Drayage truck drivers are leaving the industry in droves and it's not just terminal congestion and poor pay that's driving them out, say industry experts. "A lot of it really is cultural," Jim Newsome, CEO of the South Carolina Ports Authority, told attendees at the 2015 Intermodal...
Worker advocates turn sights on warehouse industry in Southern California Warehouse workers picketing at today's demonstration.In what could be the beginning of a larger effort to focus on working conditions and eventually organize the warehouse sector of the transportation industry, workers at a warehouse near the Port of Los Angeles walked off their jobs Tuesday, attracting the support of the...
Hours-of-service 'snapback' put in doubt FORT LAUDERDALE, Florida - A representative from the U.S. Federal Motor Carrier Safety Administration eased concern that provisions of the agency's controversial hours-of-service rules suspended by Congress last December would be reinstated this year. His comments indicate the FMCSA will wait for Congress to review a report on the suspended 34-hour restart requirements...
Viking idles PSV trio Christen Sveaas-controlled Viking Supply Ships has placed three platform supply vessels (PSVs) into layup as the market slump in the North Sea drags on.
Failed deal drags stocks Failure of a $2.3bn merger sent shares in Nicolas Saverys' Exmar and John Fredriksen's Flex LNG spinning today.
Bank's candy crush saga JP Morgan has raised concerns about owners developing a sweet tooth for tanker newbuildings.
Suezmaxes take leap The suezmax spot market suddenly lurched skyward Wednesday, with average time-charter equivalent (TCE) rates jumping by 43.9% in one day.
SeaFreight in sights US operator Crowley Maritime Corp is buying its liner rival SeaFreight Agencies.
Danaos gets boxship trio Danaos Corporation has teamed up with its controlling Coustas family to acquire three boxships through a new venture at a discount price.
Torm exits bulker ownership Danish owner Torm has completed its long-planned exit from dry cargo vessel ownership.
L&T pulls out Indian shipbuilder Larsen and Toubro (L&T) has quit the race to construct LNG carriers for charter to Gail (India).
CFL takes six Dutch owner CFL has agreed a deal to operate a series of up to six new supply ships owned and built by Croatian tycoon Danko Koncar.
Looking to capitalise Seanergy reveals vessel financing details in Q2 report as it hopes for dry recovery.
Injured crewman rescued A crewman has been evacuated from a bulker off South Africa after lacerating his arm.
Seafarers stuck in UAE Seafarers on a general cargo vessel have been stranded off the Sharjah coastline in the United Arab Emirates (UAE) for eight months.
Tanker trouble West African crude oil trading has been slowed by a batch of new tenders and continuing confusion over permission for tankers to load cargoes.
Veder adds quartet Anthony Veder has added four vessels from LGR di Navigazione to its gas fleet.
Passengers stuck Police were called to angry protests at Poole in the UK after a Condor ferry left 70 passengers behind.
State solution for WSG UK group uses government plane to fly faulty seven-metre ferry shaft from Africa to England for repairs.
Huisman builds 100th crane Dutch heavylift specialist delivers milestone Chinese unit to be installed on Jumbo-owned vessel.
Moody's positive on OSG Ratings agency Moody's has tipped restructured US tanker owner OSG to buy more ships as it raised its outlook on the company to positive.
Eidesvik in Ghana deal Eidesvik Offshore has secured short term employment for its biggest and most modern vessel.
Reach fixes Edda Fonn Reach Subsea has won its first contract through its summer joint venture with Sweden's MMT.
Sinopacific slams wage rumours Sinopacific Shipbuilding has cleared the air regarding a wage dispute with workers that led some to down tools.
Mipo mops up two more Hyundai Mipo Dockyard has added another two products tankers to its market leading orderbook.
Matson in scrap pledge US owner Matson Navigation has said it will not send any more ships for scrapping in India, Bangladesh and Pakistan.
Flex LNG and Exmar pull merger The $2.3bn merger between John Fredriksen's Flex LNG and Nicolas Saverys' Exmar is over before it really began.
Incat wins Sydney order Incat Tasmania's Hobart Shipyard has been awarded a contract to build six new ferries to operate on Sydney's Inner Harbour.
Double departure at SPO Industry giant Swire Pacific Offshore (SPO) has named Ron Mathison as its new managing director with immediate effect.
Boxship order surge Containership orders have seen a dramatic spike this year as owners look to beat a major environmental deadline.
ULTR escapes downgrade Ultrapetrol has escaped a ratings downgrade by Moody's Investors Service despite recently losing three PSV charters to Petrobras.
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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