Port of Oakland guarded on congestion scheme Limiting a congestion mitigation scheme to an initial one-year term may be the best way to assess its benefits for carriers and shippers, according to the Port of Oakland. In a letter to the Federal Maritime Commission (FMC), Port of Oakland executive director Chris Lytle said that the scheme
Recycling back in business Ship recycling markets largely returned to normal trading this week (week 34, commencing 17 August), with six vessels sold for recycling according to demolition records held by IHS Maritime. Three bulk carriers, one container/ro-ro ship, one general cargo ship and a vehicle carrier were snapped up
Indonesian coal output doubts adds to dry bulk woes Dark clouds are gathering again on the dry bulk market as analysts say Indonesian coal production could fall by a fifth and that dry bulk trade could only grow by 4.2% this year. "After collecting data from about 90 ports and terminals covering more than 80% of global trade in coal and iron ore, we
MISC sells 50% stake in VTTI for USD830 million Malaysia-listed shipowner MISC has disposed of its 50% stake in VTTI back to Vitol Group for USD830 million. MISC acquired 50% of VTTI for USD735 million in May 2010. The disposal agreement was signed by MISC's wholly owned subsidiary MTTI with Vitol Investment Partnership's wholly owned
Rig deliveries to peak in 2016 Delayed deliveries of rigs completed in 2015 indicate a possible peak in 2016. The oil shock and the subsequent plunge in demand for newly built rigs and drillships has resulted in drilling companies pushing back deliveries or cancelling orders. IHS Maritime's Sea-Web.com data show that 72 rigs
Two dead, seven injured in DSME Fire Two workers died and seven others were injured when a fire broke out in Daewoo Shipbuilding & Marine Engineering's (DSME's) yard in Okpo, South Korea, on 24 August. A very large gas carrier (VLGC) under construction at Dock No 2 had burst into flames at 09:45 local time, said DSME. The flames
Busan eyes LNG bunkering by 2020 An LNG bunkering terminal will be up and running in Busan New Port by 2020. South Korean shipping company Polaris Shipping will build the facility with a KRW600 billion (USD500 million) investment. The terminal will occupy a 185,700 m² site in Busan New Port and is to have four berths and two LNG
Tianjin port's 1H15 profit up 11% y/y Shanghai-listed Tianjin port posted profit of CNY665.6 million (USD104.75 million) for the January-June 2015 period, an increase of 10.67% year on a year (y/y). The company's revenue for the same period declined 19.5% y/y to CNY8.6 billion, while its earnings per share increased 11% y/y to CNY0.40.
Fortescue Metals' profit plummets 88% Fortescue Metals recorded an 88% drop in profit in its financial year (FY) 2015 report released on 24 August. Net profit after tax fell from USD2.74 billion in FY 2014 to USD316 million in FY 2015. Fortescue iron ore shipped out of Australia's Pilbara rose from 118.4 million tonnes in FY 2014 to
Wan Hai posts $97.3m profit for 1H15 Taiwanese carrier Wan Hai Lines recorded profit of TWD3.2 billion (USD97.3 million) for the January-June 2015 period, a surge of 82.47% on a year ago. The carrier's revenue for the same period was TWD33.7 billion, while its earnings per share nearly doubled to TWD1.42 from a year earlier. Wan Hai
SITC profits rise 27.3% in 1H15 Hong Kong-listed box carrier SITC International Holdings' profits rose 27.3% year on year (y/y) to USD71.3 million in the first six months of 2015, mainly because of a cut in fuel costs. Revenues dropped 1.0% y/y to USD651.2 million during the same period, as a result of a decrease in container
Jaya plunges to full-year loss of $1.04m Singapore-listed shipowner Jaya Holdings posted a full-year loss of SGD1.67 million (USD1.04 million) for the financial year 2015, compared with a full-year loss of SGD19.5 million a year earlier. Jaya stated that it has completed the disposal of all its subsidiaries to Mermaid Marine Australia on
Six piracy incidents in straits of Singapore, Malacca in two days There were six piracy incidents in the straits of Malacca and Singapore on 21 and 22 August, according to the Singapore-headquartered anti-piracy organisation ReCAAP Information Sharing Centre (ReCAAP ISC). Authorities believe the same group, comprising four to five perpetrators armed with knives,
Qingdao Port International's profit up 26.9% y/y in 1H15 Hong Kong-listed Qingdao Port International, a listed unit of Qingdao Port Group, said its profits grew 26.9% year on year (y/y) to CNY1.1 billion (USD171.9 million) in the first six months of 2015 on cost cuts. The company's revenues also rose 0.4% y/y to CNY3.6 billion owing to growth in
Marine insurers face huge Tianjin blast exposure Overall bill likely to be in the $2bn ballpark, although split with other lines
Zim names head of new US agency Move reflects shift in carrier's focus
BMT subsidiary to seek growth under Kai Skvarla New president to focus on developing fresh commercial markets
Gard appoints three new chief underwriting officers Promotions for Pettersen, Nilssen and Kroneberg
Bronka gets Liebherr gantry cranes First two of eventual four now delivered
One dead, one missing in DSME dry dock blaze Two LPG vessels were being built at the dock
Torm shareholders to overhaul board New directors likely to reflect changed ownership structure, with former J. Lauritzen head Janholt set to join
Weekend piracy attacks spike in Malacca and Singapore straits Pirates board five ships, stealing crew effects on one
SITC posts a 27% increase in profits as intra-Asia volumes rise Seafreight logistics revenues stay flat, but costs drop
Panama Canal postpones second draught restriction First restriction on September 8 remains in force
Bending ministers' ears London International Shipping Week will attract politicians and civil servants. Let us hope they learn something about our essential industry
MOL (America) Inc. establishes shipment management center AUGUST 24, 2015 - MOL (America) Inc. is pleased to introduce the creation of a new Shipment Management Center (SMC). The new SMC functions will take effect on August 31, 2015 and are spread throughout existing office locations in Atlanta, Georgia and Lombard, Illinois. The SMC will be the single entry...
New cranes will allow Bronka to handle post-Panamax vessels better The cranes arriving at the Port of Bronka.Two cranes that arrived last week at Russia's new deep-sea Port of Bronka will allow the port serving nearby St. Petersburg to better handle post-Panamax vessels. The two cranes are the first of four that will be installed in time for the opening of...
More carriers may exit North America-to-Med trade, Drewry says Container shipping between the Mediterranean and North America has turned into a largely one-way trade, creating financial losses for carriers and forcing them to consider drastic capacity cuts. Westbound shipments from Europe to the U.S., Canada, and Mexico were up 4.6 percent year-to-year during the first half of this year, according...
George Goldman has been appointed as ZIM U.S.A agency president In line with ZIM's strategy to expand its Trans Pacific activities and the organizational structure in all other AREAS, ZIM has established an independent U.S.A. agency, which will increase focus and attention on the company's U.S.A. business. The new agency will be led by Mr. George Goldman, who has been...
ECM Training Services, LLC announces expert panel for upcoming LNG seminar Norwalk, CT -- ECM Training Services, LLC, in conjunction with Galway Group, will hold an interactive training seminar entitled "Pursuing ECA Compliance: Is LNG as a Marine Fuel Viable?" September 22 -23, 2015, at Minute Maid Park in Houston, TX. A distinguished group of industry experts, who are influencing the way...
Logistics plus begins 20th year of operations ERIE, PENNSYLVANIA - Logistics Plus Inc., a worldwide provider of transportation, logistics and supply chain solutions, will be celebrating the company's 20th year of operations over the next twelve months. The company is planning a variety of customer promotions and employee events in the coming year in recognition of its forthcoming...
Bary, PR exec with an air freight focus, dies at 85 Shura Bary, principal at The Bary Group, a public relations firm that represented some of the largest airfreight companies in the industry, died Aug. 6 in his San Francisco home from complications of Type 1 diabetes. He was 85. Bary was born in Brooklyn, New York, where his parents emigrated after...
Teamsters in Portland lose another bid to unionize Con-way terminal Con-way Freight workers in Portland, Oregon voted not to join the International Brotherhood of Teamsters last week, marking the seventh outright defeat for the union in its attempt to organize workers at the second-largest stand-alone U.S. less-than-truckload carrier. The Teamsters have won National Labor Relations Board elections at three Con-way Freight...
Pirates attack two container ships in Southeast Asia Maersk Lebu. Credit: FotofliteUnderscoring Southeast Asia's new role as the world's piracy hot spot, pirates attacked six vessels, including two container ships, in the straits of Malacca and Singapore Friday and Saturday Authorities believe the same group, comprising four to five perpetrators armed with knives, were behind all six incidents, according...
CEVA taps former Unilever exec as CFO Supply chain management company CEVA has named Arjan Kaaks, who has extensive executive experience at major retailers, including Unilever, as chief financial officer. Kaaks will replace retiring CFO Rubin McDougal, who's been with CEVA for the past six years. Kaaks joins the company from Maxeda DIY Group, a private equity-owned business...
Widespread inventory 'de-stocking' softens US freight markets An inventory correction or "de-stocking" is under way in the U.S., as manufacturers and retailers attempt to whittle down inventories of components and goods. That correction is cutting into freight volumes moving by rail and on highways this summer, as shippers pull from existing stocks before placing new orders, sources...
Livingston International executive appointed to AAEI Board of Governors CHICAGO - The American Association of Exporters and Importers (AAEI), an organization representing U.S. companies engaged in global trade, appointed Cora Di Pietro, vice president and general manager, consulting, for Livingston International to its newly elected Board of Governors. In her new position, Di Pietro will serve on the finance committee...
Global container terminals forecast to handle 168 million TEUs more by 2019 Increasing container demand of 4.5 percent annually through 2019 and the cascading of larger ships on to smaller trades will require marine terminals to invest to handle another 168 million 20-foot equivalent units. The global shipping consultancy Drewry expects Asia will account for over 60 percent of this growth in global...
Panama Canal: Lock cracks unlikely to delay expansion schedule Discovery of cracks in one of the new Panama Canal locks is not expected to affect the waterway's scheduled mid-2016 opening to larger ships, the Panama Canal Authority said. "At this time and based on preliminary evaluations, the project's completion timeline as well as the expected date for commercial operations are...
Wan Hai Lines inches up despite softer pricing Taiwan's Wan Hai Lines second-quarter profit grew 0.9 percent to $33.4 million even as pricing softened. Wan Hai saw its second-quarter volume grow 7.1 percent year-over-year to 900,000 twenty-foot-equivalent units while revenue fell 1 percent to $500 million in the same period. The average freight rate of Wan Hai Lines' Asia...
Economic slumps, strikes and storms can't slow reefer trade growth HONG KONG - Global refrigerated container trade appears to be unstoppable, growing steadily over the past decade as the business shrugs off economic downturns, severe weather and port strikes, according to Drewry.Drewry said its latest Reefer Shipping Market Annual Review & Forecast revealed that worldwide perishable reefer trade increased by...
Profits up but revenue hard to find for intra-Asia's SITC Intra-Asia specialist carrier SITC.HONG KONG - Intra-Asia specialist shipping line SITC International Holdings reported a first-half net profit growth of 27 percent compared to the same period last year as container volumes increased by more than 6 percent and bunker prices scraped the bottom of the barrel.Yet even though the...
US shipping stocks slide Depressed European shipping stock shares have passed on the baton to their US counterparts.
China buying more Australian miner Rio Tinto expects to deliver 240m tonnes of iron ore to China this year, up from 200m tonnes in 2014.
Diana in panamax deal Diana Shipping has secured employment for one of its panamaxes at a slightly lower price than the present spot market.
Tractor tows ferry A Norwegian ferry needed a tow from an unusual source after it broke down off Vaerlandet.
Two dead in DSME fire Two workers have died after a blaze broke out on a VLGC at South Korea's troubled shipbuilder DSME.
PSV rates dive again The poor North Sea platform supply vessel (PSV) market has taken another lurch for the worse as owners looked for work in the UK.
Shipping feels Chinese pain The Chinese Stock Exchange panic has spread into the European market, taking a toll on the share price of major shipping companies.
Shipping Forecast set fair UK's Met Office to carry on providing data for iconic British broadcast to seafarers.
One dead in DSME fire A worker has died after a blaze broke out on a VLGC at South Korea's troubled shipbuilder DSME.
Tanker double for Yixing Singapore's Yixing Group has marked its entry into shipping with an order for two tankers in China.
Search suspended The US Coast Guard (USCG) has suspended a search for a crewman lost overboard from a Great Lakes bulker near Ludington.
STNG boosts MR book Scorpio Tankers has boosted its medium range (MR) tanker newbuilding orderbook as it abandoned plans to build handymaxes.
Seven hurt in DSME fire Seven workers have been injured in a fire at South Korea's troubled shipbuilder DSME.
Communication breakdown A delay in summoning a medical team may have contributed to the death by drowning of a passenger on a Princess Cruise Line cruiseship.
d'Amico buys back Italy's d'Amico International Shipping has bought back 200,000 of its own shares, as part of its general repurchase scheme launched in 2011.
Fletcher bust then reborn Weak offshore market forces Scottish PSV owner into administration; Grovepoint steps in to take it over.
DSME tackles fire Blaze broke out in part of Geoje yard currently building vessels including LPG tankers.
Cost cutting buoys SITC SITC, the Chinese intra-Asian liner specialist, has seen interim profit increase by over a quarter thanks to reduced operating costs.
Swiber to redeem bond Swiber Holdings says that it intends to fully redeem its 9.75% senior perpetual securities on the first call date of 25 September 2015.
Singapore piracy blitz Maersk and Navig8 ships amongst those targeted, with potential for more to come.
Second restriction delayed The Panama Canal Authority (PCA) has delayed a planned second draft restriction due to heavier than expected rainfall.
Bunker fuel on wreck poses Rena-type pollution Despite sinking over 70 years ago.
Grindrod profits fall But marine fuel activities show improvement.
Bunkering operations resume at Tianjin Marine fuel deliveries back since August 21, source tells Platts Bunkerworld.
Law firm comments on 'no lien' bunker supplier case Bunker suppliers can have valid maritime lien despite 'no lien' clause and stamp, under certain conditions.
Grindrod profits take fall Increase in marine fuel activities pulled down by perfrmance in other segments.
Winners and losers As the OW bankruptcy continues to impact the bunker market, Ian Taylor considers who the eventual 'winners' and 'losers' will be.
MISC leaves VTTI joint-venture Exits with cash consideration of $830 million.
Malacca Strait: Pirates target six ships in 30-hour span Ships in area should use 'enhanced vigilance and take extra precautionary measures'.
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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