UK energy mix powered by gas The UK will have closed its ageing fleet of nuclear power stations and all its coal-fired power stations by 2025, Stephen Lovegrove has confirmed. These two sources currently account for 22% and 35% of power generation. "We are right in the middle of attracting an unprecedented amount of
MISC refutes AET Tankers sale talk Malaysian shipping group MISC has refuted rumours that it could sell its subsidiary AET Tankers. As early as last year, there was talk that MISC would sell AET Tankers so it could focus on LNG shipping. At that time, oil tanker rates were still low. In 2011, MISC exited the container shipping
Rickmers Maritime Trust profit down 29% in 1Q15 Singapore-listed Rickmers Maritime Trust saw its 1Q15 profit drop 29% year-on-year to USD7.03 million. The trust, led by Thomas Preben Hansen, cited lower charter rates on six ships. Five of those ships were redelivered during the 2014, and one vessel was redelivered in 1Q15. The trust secured new
EU migrant resource funding 'not sufficient' The European Council has announced that it will triple the funding and assets of Europe's border patrol operations, but the shipping industry has responded that this will not be sufficient to tackle the mass irregular migration in the Mediterranean Sea. In statements issued from the European
HMM cancels Newcastlemax orders Hyundai Merchant Marine (HMM) said on 24 April it has cancelled two Newcastlemax dry bulk carriers that it ordered in 2013. South Korea's second-biggest shipping company explained in a Korea Exchange filing that it placed the orders on the basis of securing long-term shipping contracts. "Since
Energy leaders defend coal Greg Boyce, CEO of US major Peabody Energy, and Ernie Thrasher, CEO of Xcoal & XLNG Energy, defended the coal business at CERAWeek after the commodity was repeatedly dismissed as an option for the future by leaders of the oil and gas sectors. "A lot of people are writing the eulogy of the US coal
Hamburg Süd plans tonnage shift to east-west routes German container line Hamburg Süd is putting volume growth in the major east-west trades at the top of its agenda this year. The carrier, owned by German food dynasty Oetker, also studies its options to become a vessel provider on east-west routes, which it currently serves through slot charter
TIPC partners with Japan's Naha port Taiwan International Ports Corporation (TIPC) on 21 April inked a memorandum of understanding (MOU) with Japan's Naha port to enhance co-operation. This is TIPC's first MOU with a Japanese port, which aims to seek new opportunities for shipping services between Japan and Taiwan. Currently, Taiwan
Colombia releases Chinese ship, holds captain Colombia has freed Da Dan Xia, COSCO Shipping's heavy-lift vessel involved in an illegal arms transport, and has ordered the ship to head to Havana, Cuba, on 21 April. The ship was detained in Cartagena by Colombian authorities in March this year for carrying illegal weapons. Approximately 100
Hong Kong terminal calls for joint effort to curb throughput drop Hongkong International Terminals (HIT) has called for joint efforts to address a year-on-year (y/y) drop of 9.8% in throughput at Kwai Tsing container port. The drop in throughput at the port during the first quarter of 2015 combined with uncertainties in the global economy and international trade
Seacor posts $20m loss for Q1 2015 Worsening conditions in the offshore market in the first quarter of 2015 led to a USD19.6 million loss for vessel operator Seacor. The loss, revealed on 23 April, compares with a USD40.1 million profit in the previous quarter and a profit of USD11.5 million in first quarter of 2014. In response to
Industry gathers to discuss shipping trend Shipping trends for the next five years will be linked to macroeconomic factors driven by the US shale oil revolution, China's rising demand, and falling prices of crude oil, said the maritime community at Moore Stephens-BNP Paribas Shipping Forum 2015. Speaking at the forum, Mark Walton, senior
Analyst: Concerns over DSME undue Daewoo Shipbuilding & Marine Engineering is now the star performer among South Korea's Big Three shipbuilders and concerns over its earnings are undue, said an analyst. Samsung Securities analyst Han Young-soo based his report on a recent visit to the Okpo-based DSME to check on its recent
Shipping looks at LNG as growth engine Demand for LNG in Asia is growing and shipping and maritime-related enterprises should gear up for the business this will bring. Speaking at Sea Asia on 23 April, Singapore LNG Corporation (SLNG) CEO John Ng said, "Asia is the growth engine for LNG demand with around 75% of total LNG consumption
Pyxis bids to go public through merging with listed tech company Product tanker company will launch new affiliate with six vessels after LookStart link-up
Strong start for new VLGC pool, says Dorian LPG Helios LPG pool is responsive to current strong market and Dorian sees impact of US cargoes growing
Cost of widening MSC Geneva matches rise in vessel's value As capacity of boxship is raised from 4,870 teu to 6,300 teu, value increases by $10m
Where is the bottom line for LNG spot shipping rates? Latest rate falls spark concern in market
HMM cancels 2013 order for two newcastlemax bulkers South Korean carrier drops order due to lack of shipping requirement as dry bulk rates stay low
UK ports win new services London ports of Tilbury and London Gateway each welcome new calls
Shanghai's port operator considers taking equity in intra-Asia box carrier SIPG is studying purchase of a stake in Shanghai Jinjiang Shipping
Changing global trade patterns the force behind tanker market improvements New trades have increased tonne-miles, lighting a flame under the tanker market
Gast says Hapag-Lloyd merger remains unlikely Any deal would be hindered by competition concerns, says Hamburg Süd executive board chairman
Maasvlakte II celebrates its official opening But based on experience, the real work starts now, says APMT chief Fejfer
OOCL posts 2.5% drop in first-quarter volumes Revenues are also down slightly for the quarter
May GRIs can't come soon enough as Asia-north Europe rates continue decline Spot market rates fall for 13th consecutive week to new low of $349 per teu
Zim to launch Asia-US east coast service via Suez Expansion follows popularity of extra-loaders during the west coast congestion crisis
Capes eke out a gain, but still in loss-making territory Bad weather in eastern Australia only causes some coal export delays
Hamburg Süd eyes Ocean Three membership as it expands into east-west trades Executive board chairman Ottmar Gast says line's global ambitions would require partnerships and probable investment in ultra large boxships
Bocimar, hit by low rates, loses $41.3m in first quarter CMB says start-up costs for boxship venture with private equity fund bit into results
Westbound FEU availability in Midwest surges The number of westbound 40-foot equivalent ocean containers available in Chicago and Kansas City surged in early April, another sign the West Coast container logjam has broken and the Chinese New Year reprieve is over. Click to enlargeIn the Chicago area, the number of available westbound FEUs jumped 266 percent, rising...
CAGTC Announces Five New Board Members; Appoints New Executive Director WASHINGTON, DC (April 23, 2015) - The Coalition for America's Gateways and Trade Corridors (CAGTC) today welcomed five new Board Members and installed Elaine Nessle as Executive Director. CAGTC membership elected five new Board members. Joining CAGTC's Board are: Ø Paul Anderson, Port Director, Port of Tampa Bay Ø Gary Gallegos, Executive Director, San Diego Association...
Public truckload carriers enjoy profitable first quarter Large, U.S. public truckload carriers are making hard cash in a soft economy. Billion-dollar trucking firms Landstar System and Knight Transportation reported strong increases in revenue and freight demand at a time when many economic metrics were weak. Covenant Transport reported a 12.1 percent increase in freight revenue - including truckload...
US House bill would identify ports most vulnerable to cyberattacks WASHINGTON - New legislation passed in the U.S. House Thursday could launch a federal review of the cybersecurity protocols at the nation's seaports, giving the most-at risk ports an idea of how they're vulnerable and how they can strengthen their defences. While there has never been a high-profile cyberattack on U.S....
American Waterways Operators Elects Chairman ARLINGTON, Va., April 24, 2015 /PRNewswire-USNewswire/ -- The members of the American Waterways Operators, the national trade association representing the tugboat, towboat and barge industry, elected a new slate of leaders during AWO's Spring Convention held recently in Washington, D.C. David G. Sehrt, Chief Operating Officer and Senior Vice President of...
ASA Looks Ahead as TPA Bill Emerges from House, Senate Committees WASHINGTON (April 24, 2015) - Following the passage of a bill by the House Ways and Means Committee and the Senate Finance Committee that would grant trade promotion authority to President Barack Obama, the American Soybean Association (ASA) is calling on both chambers to pass the bill and give the...
LA, Long Beach drayage drivers to vote whether to strike Encouraged by a ruling late last year that found drivers at a Southern California drayage company were misclassified as independent contractors, a Teamsters-affiliated group is calling for a strike vote on Saturday by drivers throughout the Los Angeles-Long Beach port complex. Justice for Port Truck Drivers said the results will be...
Boston volumes benefiting from East and West coast congestion Diversions from congested East and West coast ports are shifting the Port of Boston's container volume growth into a higher gear. Click to enlargeWhile the port has seen its volume steadily grow, thanks to attractive truck turn times and new services, diversions from congested West Coast ports and the nearby New...
Teamwork and efficiency key to growth Richard LarrabeeIn the past several months, the Port of New York and New Jersey and other ports along the East Coast have experienced record cargo growth due primarily to containers routed here from the West Coast. This growth has led to challenges in how we handle the increased volume on...
Man charged with $2.1 million fraud of Sea Star, Trailer Bridge A former employee of U.S. mainland-Puerto Rico carriers Sea Star Line and Trailer Bridge has been charged with defrauding the companies of $2.1 million by submitting phony invoices for container and equipment decals and inspection and transportation of containers and equipment. Andrew A. Rooks, of Jacksonville, Florida, was charged in a...
Horizon expects to close sale to Matson by June Horizon Lines said it expects to complete its sale to Matson by the end of Horizon's second quarter in late June. The deal received clearance from U.S. antitrust regulators this week. The transaction will result in the breakup of Horizon, which had struggled financially for years, and a restructuring of U.S....
Algoma Central Orders New Great Lakes Ships ST. CATHARINES, ON, April 23, 2015 /CNW/ - Algoma Central Corporation ("Algoma" - www.algonet.com) today announced that it has acquired a 2009-built handy size self-unloading ocean class vessel, the Gypsum Integrity, from Gypsum Transportation Limited. The vessel is being renamed the Algoma Integrity. In addition, the Company is announcing today that it has signed...
ATA seeks licensing reform to get younger drivers in trucks WASHINGTON, D.C. -- Could government do more to help, rather than hinder, efforts to find a solution to trucking's endemic driver shortage? Yes, trucking officials say, starting with changes to licensing rules that bar young drivers from operating heavy trucks. The American Trucking Associations favors a graduated licensing system that would...
Zim to offer new Asia-US East Coast service via Suez Zim Integrated Shipping Services announced the launch of a new service between Asia and the U.S. East Coast via the Suez Canal at the end of May. The Zim Seven Star Express (Z7S) service, connecting South China, Southeast Asia and the Indian subcontinent with New York, Savannah and Norfolk will deploy...
E-commerce game changer Satish JindelIt should be no surprise that executives at FedEx and UPS would be fed up with the false reports of their business model being disrupted by developments with app-based, Uber-like models for same-day and next-day delivery of online retail orders. The buzz around venture-funded delivery apps such as Shutl, Deliv,...
First-quarter revenue and volume fell at OOCL HONG KONG - Orient Overseas Container Line reported falling volumes and revenue in the first quarter with the trans-Pacific and intra-Asia trades placing a drag on the carrier's performance.The Hong Kong-listed line reported total container volumes falling 2.5 percent from January through March year-over-year to 1.31 million TEUs. Total revenue...
Reefer duo for Siem Siem Shipping took a step toward renewing its fleet with the addition of two specialised reefers from Singapore's Grace Ocean.
China's cruise building horizon Carnival chief executive Arnold Donald says he expects China to begin building cruiseships in five to 10 years to meet the country's own high expected demand for ships.
Reef selling assets Reef Subsea is looking to sell its stakes in two construction vessels after HitecVision, its largest shareholder, went bankrupt in February.
MISC denies sell-off MISC has poured cold water on market rumours that it intends to sell its tanker arm to Teekay.
£1 a day? The dire North Sea platform supply vessel (PSV) market is rumoured to have pushed one owner to offer an introductory rate of just £1 ($1.51) per day to win business for a newbuilding.
Algoma buys gypsum ship Canadian owner Algoma Central Corporation is the buyer of one of two gypsum carriers sold by Gypsum Transportation Limited (GTL) this week.
Siem does half a deal A deal that would have seen Siem Offshore sell two subsea construction vessels (OSCVs) to Daya Materials has been only partly completed.
Left in peril on the sea We take a look at what was said in the market over the past week.
Rickmers profit slides Rickmers Maritime has taken a hit from reduced charter rates for six vessels as both revenue and profit declined for the first quarter.
Triton's scope questioned Shipping organisations are welcoming the tripling of resources agreed by EU leaders for the Triton border control operation in the Mediterranean, but fear its scope will not be sufficient to find and rescue migrants in trouble off Libya.
China Exim stays cautious The Export-Import Bank of China (China Exim Bank) is expecting shipping lending volumes to slightly exceed 2014 this year.
Slow start for OOCL Orient Overseas Container Line (OOCL) has seen volumes fall during the first quarter of 2015, resulting in lower revenue.
Refuge warning Marine surveyor BraemarSA has warned of mounting costs if a ship in distress cannot find a safe place of refuge.
OCY funds conversion Ocean Yield (OCY) has secured long-term financing for one of its chartered-out vessels through a revolving credit facility of $220m.
CSSC in for Rongsheng? State shipbuilder China CSSC Holdings is a likely candidate to buy the yard assets of the former China Rongsheng Heavy Industries.
SIPG targets compatriot Shanghai International Port Group (SIPG) has set its sights on expanding its boxship tally by acquiring a stake in compatriot Shanghai Jinjiang Shipping.
Cape scrapping speeds up At least four more big bulkers reported sold for demolition on Friday.
"Only the start" German shipowners have said the measures taken by the European Union to prevent mass drownings of boat refugees in the Mediterranean are "only the start".
Yara profit chopped Norwegian LPG carrier owner and fertiliser producer Yara International has been hit by one-off losses in the first quarter.
Zim adds Asia run Israeli container line Zim is boosting its transatlantic business with a new service.
Drunk master jailed A Russian master has been sentenced to 28 days in a UK prison after drinking in a bar before what was intended to be his final voyage.
Cecon admits defeat Oslo-listed offshore construction vessel owner Cecon is to ask a court in Norway to declare it bankrupt.
Seacor plunges into the red Seacor Holdings has made a poor start to 2015 reporting a first quarter loss of close to $20m, just released figures show.
Bocimar results deteriorate Bocimar has reported a near ten-fold increase in first quarter losses in figures released by parent company CMB.
Calls for RN Med role The Royal Navy should play a leading role in facilitating a pan-European coalition to prevent further humanitarian disasters in the Mediterranean sea, the UK Chamber of Shipping has said.
Newcastle back in action Australia's Newcastle port was due to reopen late on Thursday after it shut earlier this week due to a heavy storm.
Response to fuel leak in Vancouver 'may have been too slow' US oil spill expert denies describing Canadian Coast Guard's response as being 'exceptional'.
Pollution conference in Singapore ends with mock spill Crews respond to simulated tanker collision, clean up 5,000 tonnes of oil.
Report: Total looks to sell fuel distribution business in Turkey Sources say Societe Generale has been asked to lead the sale.
Scrubbers 'not for us', says UECC LNG dismissed as retrofit solution but will be used on newbuilds.
OW: Around a tenth of assets collected Up to $1 billion waiting to be picked up.
Falling bunker prices leave 'no excuse' for ignoring specs IBIA chairman repeats call for ISO 8217:2010 to be observed.
Bulging fuel oil stocks could undermine bunker prices Influx of cargoes into Singapore may put pressure on market.
Ferry operator joins carbon credits scheme Scheme rewards owners switching from biocidal antifouling systems to AkzoNobel's Intersleek marine coatings.
Decline in fuel prices benefits Hamburg Sud Company's liner services say bunker costs fell by 11%.
'Stupid' sulphur regulations preventing CO2 reductions Requirements to reduce SOx and NOx is 'changing shipping from contributing to cooling, to contributing to warming' scientist tells IBC 36.
Triton: System could cut HFO sulphur content to 0.10% Developments "successful" so far, says company.
DNV GL introduces new environmental verification service To give confidence in compliance procedures.
GE marine engines receive class approval Design approval extends range of engines application, says firm.
Suppliers face 'severe delays' at Russian port All suppliers at the Baltic Sea port of Novorossiysk are said to be 'struggling'.
Crews cleanup '120 kilos' of fuel from Spanish beaches Shipwreck leaking 5 to 10 litres of fuel per hour, says Spanish government.
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