Box shipping groups attacked for beach scrapping Leading container shipping groups are under fire from a safe shipbreaking campaign group for continuing to send vessels to "sub-standard" beach demolition yards on the Indian sub-continent. NGO Shipbreaking Platform (NSP) claimed today that 641 out of 1,026 vessels demolished last year were sent to
NewLead doubles its fleet Greece's NewLead Holdings has announced the addition of five bitumen tankers to its fleet through purchases and leasing agreements. Three chemical/bitumen tankers - the 2009-built, 5,887dwt Captain Nikolas I and 3,416dwt Nepheli and the 2008-built, 2,888dwt Sofia - were purchased for an aggregate
Concordia captain risks 26-year sentence Former Costa Concordia captain Francesco Schettino has denied he might try to flee Italy, where prosecutors are seeking to jail him for 26 years over his role in the cruise ship's loss in January 2012. Italian press agency ANSA quoted Schettino as saying that he was "definitely not" a potential
Box shipping groups attacked for beach scrapping Leading container shipping groups are under fire from a safe shipbreaking campaign group for continuing to send vessels to "sub-standard" beach demolition yards on the Indian sub-continent. NGO Shipbreaking Platform (NSP) claimed today that 641 out of 1,026 vessels demolished last year
News insight: Libya - risks to shipping escalates The continued fighting in Libya between the Libyan National Army (LNA) and Islamist militias have been see-sawing along the strategic coastal road and ports of the country. Unable to shift the militias effectively on the ground, the LNA, as part of its anti-Islamist 'Operation Dignity',
Strong tanker market keeps old ships afloat A strong VLCC market could reduce tanker demolitions and see orders for other ship types converted into tankers, according to a shipbroker. Two units now earmarked for storage had previously been reported as sold for demolition, said US-based tanker broker Charles R. Weber in its weekly market
DCT Gdansk begins building $325M terminal Deepwater Container Terminal (DCT) Gdansk has officially handed over to Belgian construction major Besix the site of a new terminal that will raise its capacity to 3M teu. The project, already under way at Poland's largest container terminal for two years, is financed by a group of commercial
Three injured in Surabaya cargo ship fire Three men were injured in a fire onboard an Indonesia-flagged cargo vessel while docking at a shipyard in Surabaya, Indonesia. The 5,276 dwt, 2005-bulit Mentari Pratama, owned by Mentari Sejati Perkasa PT, had one of its gas cylinders exploded during welding work on Saturday. The three men were
Shipbuilder JES International unveils new shareholders Singapore-listed Chinese shipbuilder JES International said today that two investors have subscribed to new shares it is issuing to them. JES, which owns the Jiangsu Eastern Heavy Industry shipyard in China, said Brilliant Choice International and one Sun Yiyi would buy a total of 183M new ordinary
China's wheat, corn imports dive in 2014 China, the world's largest wheat consumer and the second-largest corn consumer, has recorded less imports of wheat and corn for the whole of 2014, official customs data showed. The nation imported a total of 2.97M tonnes of wheat and 2.6M tonnes of maize in 2014, down by 46% and 20.4% year on year
Ulsan Port aims to cut loading accidents South Korea's Ulsan Port Authority (UPA) is launched a risk assessment consultation to further reduce accidents during loading and unloading cargoes, the port announced on 23 January. Ulsan Port mainly handles oil, chemicals, and other liquid cargo. The consultation will run from March to
VLGC rates heading towards $100/tonne mark again Shipbrokers predict that rates to transport LPG on very large gas carriers (VLGC) will hit the $100/tonne mark soon. As of yesterday, the Baltic Exchange assessed rates on the benchmark Gulf-Far East route at $87.375/tonne, up from $73.188/tonne a week ago. At current bunker prices in
South Korea to probe raising of Sewol ferry South Korea began an underwater probe to decide whether to lift up Sewol, which capsized during a routine Incheon-Jeju trip on 16 April 2014, leaving 304 of 476 passengers either dead or missing. According to the Ministry of Oceans and Fisheries, a 2,000-tonne barge Hyundai Boryung carrying experts
US box port crisis worsens Congestion and delays at US West Coast container terminals could last well beyond a labour contract settlement, a prominent shipper group representative has warned. Bruce Carlton, president of the Virginia-based National Industrial Transportation League, maintained that operations on the waterfront
Emergency dredging begins off Hong Kong's Lamma Island An emergency dredging operation has been kicked off at Hong Kong's Lamma Power Station Navigation Channel. A small fleet of vessels, including two grab dredgers, four hopper barges, two tugs and one survey boat, are deployed for the three-month project, a statement of the Hong Kong Marine
China's ore, LNG imports up more than 10% in 2014 China imported a total of 933M tonnes of iron ore and 19.89M tonnes of LNG in 2014, up 13.8% and 10.3% year on year respectively, data from Chinese customs showed. Iron ore imports in December climbed 29% y/y to 86.85M tonnes, according to customs data. The tumbling iron ore prices have led to the
Falcon Energy extends bid for CH Offshore Falcon Energy Group has extended its bid to acquire all the issued and paid-up ordinary shares in the capital of CH Offshore. CIMB Bank Singapore branch has acted on behalf of the Singapore-listed offshore services provider for the extension of its voluntary conditional cash offer from 17.30 on 26
JGC wins award to expand Petronas LNG facility Japanese engineering company JGC Corporation has clinched a $502M contract to expand Petronas' LNG shipping and storage complex in Bintulu, Sarawak, Malaysia. Petronas' LNG complex is one of the world's largest LNG production facilities and currently has eight production trains with a
Bank ship finance to bounce back in 2016, says Petrofin Meanwhile non-traditional lenders are plugging part of the gap
Greek shipping waits as Tsipras unveils new government Shipping is part of a new 'super-ministry' including economy, infrastructure and tourism
Market awaits DHT's take on aframax crude tankers Company's results are likely to offer an insight into vessels' earning power
Carnival and China Merchants form alliance to expand in Chinese cruise market Companies to explore opportunities in jointly owning ships and developing terminals
Illegal weapons rental widespread, say PMSCs Cost-cutting practice common after price collapse
Eitzen secures $100m loan as part of restructuring Chemical tanker owner tells Lloyd's List it plans to increase loan to $150m shortly
DSME expects strong newbuilding demand for giant boxships and LNG carriers in 2015 But South Korean giant has dim outlook over offshore shipbuilding, due to falling oil prices
IRISL court ruling changes nothing, say lawyers EU expected to redesignate Iranian shipowner
More capesizes sent for scrap Ten sales in past fortnight and more units are being touted in the market
Hellenic Carriers chief executive increases shareholding Brother disposes of 26.2% stake to pursue political career
Eight more VLCCs taken on time charters Latest tankers could be used for crude storage, reducing the number of VLCCs competing to carry cargoes
GSI will post a full-year profit of around $24m Gain is due to proceeds from sale of subsidiaries
Work begins on expanding Cosco's Piraeus terminal Port likely to be hot topic for new Greek government
HNA arm closes deal with Cronos, continuing container leasing expansion drive Deal brings Bohai Leasing Co 80% of Cronos, building on earlier acquisition of Seaco
Boxship scrapping set to remain high after near-record level in 2014 More than 1m teu removed from the fleet through demolition in the past three years, Clarkson Research estimates
Manitoulin Transport Buys LTL business, expands in Alberta Canadian trucking operator Manitoulin Transport made its second acquisition in Alberta in the past six months, buying the less-than-truckload division of Hi-Way 13, Camrose, Alberta. The acquisition is part of a long-term strategic effort by Mississauga, Ontario-based Manitoulin to expand in energy-rich Western Canada, especially in Alberta and Manitoba. Manitoulin has been...
Fast-growing logistics company TQL expands in North Carolina Total Quality Logistics, one of the largest U.S. logistics companies and truckload freight brokers, is expanding in North Carolina. The opening of the second TQL office in North Carolina follows rapid expansion in 2014, when the company's revenue topped $2.1 billion. The third-party logistics provider will invest $750,000 in its new...
ILWU Local 8 shuts down Portland container terminal Tuesday Dockworkers at the Port of Portland, Ore. shut down the port's only container terminal on Tuesday to protest the firing of some longshoremen last week. Elvis Ganda, North American CEO of ICTSI, which operates Portland's Terminal 6, said International Longshore and Warehouse Union Local 8 refused to provide vessel, yard and...
Box shipping owners attacked over unsafe beach scrapping Leading container shipping groups are under fire from a safe shipbreaking campaign group for continuing to send vessels to "sub-standard" beach demolition yards on the Indian sub-continent. NGO Shipbreaking Platform (NSP) said on Tuesday that 641 out of 1,026 vessels demolished last year were sent to such beach-based facilities in India,...
UASC orders 2,000 reefer containers on eve of South America debut UASC will expand its reefer fleet by 2,000 containers to capture a greater share of the north-south trade.United Arab Shipping Co. has ordered 2,000 refrigerated containers as it prepares to expand into the South American liner trades. The Dubai-based carrier is set to launch services from Europe and Asia to the...
Northeast blizzard delays rail, truck shipments Railroads and trucking companies said shipping delays would be unavoidable Tuesday in the wake of severe winter weather that dropped as much as 2 feet of snow in some corners of the Northeast. Norfolk Southern Railway and CSX Transportation, which together have a duopoly over all east-west freight rail traffic east...
West Coast congestion leads carriers to add tonnage to the trans-Pacific Congestion on the West Coast, which has led to delays of one to three weeks on nearly all trans-Pacific services, has led carriers to inject significant additional tonnage into the trans-Pacific to maintain a semblance of schedule reliability, Alphaliner said. Alphaliner said on Monday that the ongoing port congestion has led...
Indian logistics provider Gati rides e-commerce growth to robust profits Gati Ltd., India's leading express distribution and supply chain solutions provider, on Tuesday said the growth of e-commerce helped increase net earnings by 60 percent in its third fiscal quarter, which ended on Dec. 31. Net earnings reached Rs. 14 crore (about $2.3 million), compared with $1.4 million for the same...
US retains status as Japan's largest export market In a sea change in Asia-Pacific trade among the world's three largest economies, the United States retained its status as Japan's biggest export market for the second year in a row in 2014, edging out China. Japan is the world's third-largest economy after the U.S. and China and is heavily dependent...
NS says it's turned a corner on rail service Norfolk Southern Railway said poor network velocity cost it some domestic intermodal volume in the fourth quarter, but the railroad said overall service has turned a corner, allowing it to better handle expected domestic and international intermodal traffic growth this year. The railroad told investors Monday morning that its efforts to...
Chinese New Year tailwind lifting Asia air freight demand HONG KONG - Air freight on the Asia-North America trade is riding a tailwind that filled freighters and bellies in the last quarter of 2014, and after a brief holiday dip the volumes are again on the rise.Shippers are trying to get their cargo out of China before a later...
China the frontline in alliance fight for Asia-Europe market, Drewry says HONG KONG - China is the main battleground for the world's four mega shipping alliances, that collectively depart from 10 mainland ports every week to North Europe in 74 weekly voyages, according to Drewry Maritime Research.Of the vessel tie-ups, the 2M Alliance between Maersk Line and Mediterranean Shipping Co. has...
Survey finds rail service improving for US grain exporters Farmers and grain handlers in the U.S. Midwest are experiencing improved rail service, according to a recent survey from a group that has been a vocal critic of rail delays, congestion and shipping rates in the past year. The survey of 42 grain handlers in Minnesota, North Dakota, Nebraska and South...
Truckers, motorists renew call for US fuels tax hike WASHINGTON, D.C. - With the deadline for passing new federal highway spending legislation approaching May 31, the largest U.S. business lobby joined with groups representing truckers and motorists to urge the new Congress to raise the federal fuels tax. Calls for raising the fuels tax to restore the federal Highway Trust...
Procurement increasingly takes a back seat in BCO-carrier negotiations As the service contracting season in the eastbound trans-Pacific gears up, internal tensions within many large shipper organizations between a procurement and a logistics mentality will once again play out as contracts totaling billions of dollars are negotiated and signed between now and May 1. Yet interviews with shippers suggest that...
Reefer runs aground Authorities in the US are racing to free a Seatrade reefer that ran aground in the Delaware Bay early Tuesday morning.
Cal Dive critical Wall Street is rife with speculation that Cal Dive International is planning to pursue a Chapter 11 restructuring in the US.
Siem sheds reefers A leading Norwegian reefer operator is preparing to part ways with two of its eldest vessels.
Blizzard batters US coast A severe winter storm in the US has crippled much of the nation's north-eastern seaboard.
Kalavryta leaves US A tanker anchored for months off the US laden with 1m barrels of oil has started sailing towards Gibraltar.
Diana takes rate cut Greece's Diana Shipping has fixed out a panamax for up to a year at a slightly reduced daily rate.
NewLead takes five NewLead has taken its fleet to double figures after snapping up five tankers from private Greek owner Harmonia Shipping Management.
Antwerp in record growth Belgium's port of Antwerp has claimed record cargo growth in 2014 as volumes hit 199m tonnes, a rise of 4.3% year-on-year.
Danes unify operations Sister operations Nordic Tankers and Herning Shipping are merging their Danish offices as part of a new financial restructuring.
Syriza's new super-ministry Greek election winner Syriza has officially announced its plan for the new governmental scheme that will see the ministry of shipping and the Aegean under the umbrella of a so-called super-ministry.
Giants take Eitzen stakes Leading banks and hedge funds have emerged as major backers of Eitzen Chemical in the wake of an $850m restructuring.
GE adds PSV India's Great Eastern (GE) Shipping has added a new platform supply vessel to its tally through its wholly-owned subsidiary Greatship India.
NAP starts ahead Greece's Navios Maritime Midstream Partners (NAP) has posted a profit of $2.55m in its first 44 days of operation since completing its US IPO.
Schettino facing 26 years? An Italian prosecutor has asked a court in Grosseto to impose a 26-year sentence on Costa Concordia captain Francesco Schettino, who is charged with multiple manslaughter.
Gas owners take a tumble A plunge in the share price of some of the world's largest VLGC owners may have opened the door for investors.
Eitzen loan confirmed Eitzen Chemical has confirmed a $100m loan that forms part of an $850m restructuring.
Drifting bulker towed A drifting Greek bulker has been towed safely into port after losing power in gales off Algeria.
TAS wins trio Malaysian shipbuilder TAS Offshore has sealed orders from a new client worth MYR 143.24m ($40m).
Profit in sight for DHT Wall Street expects its largest VLCC owner to book a positive finish to 2014.
Joshi in at SCI Shipping Corp of India (SCI) has a new government-appointed financial director.
Carnival in new China pact Carnival Corporation is furthering its Chinese expansion plans with a memorandum of understanding (MOU) that could see the company joining forces with China Merchants Group (CMG).
Fund enters GasLog MLP OppenheimerFunds has become a major investor in Peter Livanos-backed GasLog Partners.
HSH eyes $1.7bn cut HSH Nordbank is seeking to accelerate its disposal of bad shipping debt, a leading executive says.
Cruises cancelled The German administrator of bankrupt Peter Deilmann Reederei has cancelled all scheduled trips for the Deutschland cruiseship as a buyer remains elusive.
Suez Canal revenue up Revenues from the Suez Canal rose to $445.5m during December.
Egypt inks $2.2bn LNG deal Egypt's Egas has awarded contracts worth $2.2bn to import 75 LNG cargoes over two years.
Bohai bags Cronos China's Bohai Leasing Co has completed the acquisition of container leasing company Cronos Limited from two US hedge funds.
Apollo lifts Baltic stake Apollo Management has increased its stake in bulker owner Baltic Trading, latest regulatory filings show.
Pellets prompt expansion The UK's Port of Tyne is investing £25m ($38m) to expand its multi-functional deep-sea facility at South Shields.
CH Offshore bid extended Falcon Energy Group has given shareholders in CH Offshore another two weeks to accept its takeover offer for the company.
Osaka set for discharge Hoegh Autoliners says it is expecting to receive permission to begin unloading the Hoegh Osaka imminently.
RGL ups the ante The sale-and-purchase market is rife with speculation that RGL Shipping of Singapore has exercised an option to construct another bulker at Bohai Shipbuilding in China.
High hopes for Tankships sTankships Investment Holdings only has ten ships to its name but a growing number of forecasters believe the tally will increase significantly in the months to come.
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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