Port of Tokyo's cargo traffic down in May The Port of Tokyo saw its cargo traffic fall 6.7% in May from a year earlier to 6.797 million tonnes, as foreign trade tumbled at a double-digit rate while domestic trade also declined slightly, according to preliminary figures released by the Tokyo metropolitan government. Of the 6.797 million
APM Terminals makes second quarter profit despite volume fall APM Terminals this week announced in its second quarter (2Q) interim report an underlying profit of USD159 million despite a volume decrease of 6% compared with 2Q14. The terminal operator attributed the decline in containers handled to the divestment of two facilities in France and Virginia, US.
North Atlantic Drilling sees no new contracts for 2015 work start North Atlantic Drilling (NADL), the harsh environment drilling rig operator, says that trading conditions remain challenging, but that large numbers of old units in the global fleet are candidates for scrapping. The company reported net profit of USD44.2 million in the second quarter of 2015
Deputy chairman and general manager of Hebei Port Group under probe Li Min, deputy chairman and general manager of Hebei Port Group, has been placed under China Communist Party's probe over allegations of serious violations of party disciplines and laws, a statement of the party's discipline inspection commission in Hebei province said on 26 August. The statement
Seadrill seeks to postpone deliveries on continued weak market Seadrill, the London-based listed drill ship and rig owner in John Fredriksen's business empire, seeks to postpone further newbuilding deliveries on continued weak market, the company said in a statement. Seadrill currently has 15 rigs under construction comprised of four drillships, three
Hoegh LNG sees strengthening demand for FSRUs Hoegh LNG, the listed LNG carrier and floating storage and regasification unit (FSRU) owner in the Leif Hoegh group of Norway, sees strengthening demand for FSRUs. The group, which owns four FSRUs and five LNG carriers, reported a 2Q15 net profit of USD 5.9 million compared to a loss of USD8.6
Awilco LNG deep in the red on overcapacity Awilco LNG, the listed Norwegian owner of four LNG carriers, has reported deep interim losses and warned of continued overcapacity in the market. Group net loss in 2Q15 amounted to USD11.7 million compared to a small profit of USD0.2 million in the same period last year. Revenues plunged to USD7.3
Pyeongtaek-Dangjin seeks two new general cargo berths The South Korean port of Pyeongtaek-Dangjin is inviting tenders to build two new berths for general cargoes. Since 2012, Pyeongtaek Regional Oceans & Fisheries Administration has been working to upgrade the port. This month, it completed expanding the access channel to the West Port. On 26
Danish Ship Finance warns soft rates norm in short to medium term A flow of newbuildings to the market has reduced the average age of the world's merchant fleets, which means scrapping has less room than before to address oversupply, Danish Ship Finance (DSF), the Copenhagen-based shipping bank said. "Across the segments (of ship types), the orderbook as a
Avance Gas sees healthy market to continue Avance Gas Holdings, the Oslo listed VLGC operator, expects the market to be able to absorb a large orderbook and produce good results in the near future. Group net profit in the second quarter of 2015 (2Q15) rose to USD41.3 million from USD23.8 million in the previous quarter. Revenues rose to
Unlicensed bunker supplier fined in Singapore A Singapore-registered company has been fined for selling bunkers in the city-state without a licence. The Maritime and Port Authority of Singapore said on 26 August that JL Petroleum pleaded guilty in court on 18 August. JL Petroleum sold bunkers on 14 occasions between 2 and 25 June 2013, using
Maersk Oil looks to restructure parts of UK operation Maersk Oil, which is part of the Copenhagen based A.P. Moller-Maersk group, said it is planning to restructure parts of its operation in the UK due to challenging markets and that 200 jobs could be affected. "As a result of ongoing challenges in the market and Maersk Oil's cost transformation
Golden Ocean in red on weak demand Weak demand rather than excessive growth of the dry bulk fleet continues to plague the sector, said Golden Ocean Group, as it reported a loss for both the second quarter and the first half of 2015. According to the listed dry bulk shipping company in John Fredriksen's business empire, the net loss
UMW 2Q15 profit down 51% Malaysia-listed offshore services provider UMW Holdings posted a profit of MYR133.4 million (USD31.3 million) for the second quarter of 2015, down 51% year on year (y/y), while its revenue was at MYR3.4 billion, down 12% y/y. The company attributed the decrease in earnings to revenue reduction in
Tianjin port president detained Chinese prosecutors have detained Shanghai-listed Tianjin port's president Zheng Qingyue for dereliction of duty. Zheng is among 11 people detained in relation to the explosions that rocked the port city on 12 August. They are officials from Tianjin local transportation management authorities, work
Jinhui Shipping and Transportation sinks to loss of $12.6m in 2Q15 Jinhui Shipping and Transportation sank to a loss of USD12.6 million in the second quarter ended 30 June on a fall in revenue and a write-off on a newbuild. During the period, Jinhui booked a USD2.9 million in write-off on a bulk carrier newbuild that it abandoned in May, a stock filing of Jinhui
COMEC's loss widens 139% y/y in 1H15 CSSC Offshore & Marine Engineering Group (COMEC), said its loss widened 139% year on year (y/y) to CNY525.0 million (USD82.0 million) in the first six months of 2015 because of write-downs on its orderbook. For the same period, COMEC took provisions of CNY268.9 million for its orderbook in the
The company results round-up FREE CONTENT: DP World, Odfjell and CSCL all find reasons for optimism
Irish shipping sees growth in most segments Statistics from Irish Continental and IMDO point to increases in all markets, save dry bulk
Wirana takes on Norwegian Shipowners' Association support of beaching ban Hong Kong-based cash buyer finds stance "difficult to reconcile" with Norway's ratification of Hong Kong convention
Golar LNG operating results hit by weak spot market Owner continues to expand floating liquefaction and FSRU options
Russian exporters running on empty A shortage of equipment threatens to derail the country's fledgling export revival
CSCL reports in the black, buoyed by better business in the Pacific Asia-Europe volumes drop 2% but revenues in the arena are down 17%
SIPG faces slower growth amid dismal economy Port operator sees box volume increase 4.4% to 17.3m teu in the six months
Awilco losses deepen as LNG market stays weak But scrapping and new production will eventually prevail, Norwegian operator insists
Beijing detains Tianjin Port Group president for blast investigation Zheng suspected of dereliction of duty
Odfjell hails best three months since financial crisis Norwegian chemical tanker outfit books $7m profit for second quarter
Frontline firing on all cylinders New-look Frontline to create a $2bn industry player to rival current leader Euronav
Golden Ocean cites sluggish demand after second-quarter loss Fredriksen bulker outfit loses $33.5m in first results after Knightsbridge merger
UK port boss in Humber move Simon Bird quits Bristol to take up new post in northeast England
DP World reports strong first-half figures Free zone acquisition drives profits up 22.3% to $455m
Marine insurance mulls lessons of Tianjin blast Risk management will rise up agenda, experts argue
Malaysia and Indonesia join forces to counter rising piracy Members of the Malaysian Maritime Enforcement Agency during anti-piracy training.Malaysia and Indonesia are working together to fight rising piracy in Southeast Asia less than a week after six attacks, two targeting containerships, occurred within 48 hours, according to a report. The Malaysian Maritime Enforcement Agency has stationed an additional helicopter task...
China trade forecast to grow in mid-single digits for next five years A plummeting stock market and the devaluation of the yuan have knocked China down a peg, but the Asian manufacturing powerhouse will still grow its trade with the world more than 5 percent annually over the next five years, according to a recent IHS forecast. "These increases will not be the...
Carribean ports shut down, prepare for tropical storm Operations at ports on the Virgin Islands and Puerto Rico were shut down Thursday as the eastern Caribbean awaited the arrival of Tropical Storm Erika. Thursday morning, the "poorly organized" tropical storm was roughly 85 miles off the west coast of Guadeloupe, moving west at 16 miles per hour with...
TPM 2015 Sponsor: Port Tampa Bay Port Tampa Bay CEO Paul Anderson on the maritime trade industry's recent labor contract problems and the need for more influence on Capital Hill. Interviewed at TPM 2015, Anderson spoke about the benefits of ports forming alliances, as seen in the Gulf and U.S. Northwest. ...
DP World warns of slowing growth after double-digit profit gain Global terminal operator DP World reported a 22 percent increase in net profit during the first half of 2015 but said it expects growth to slow amid a "challenging" global economy during the rest of year. DP World's increased first-half profits were aided by the company's March acquisition of Economic Zone...
US Coast Guard to monitor cargo from Tianjin The U.S. Coast Guard said that "out of an abundance of caution," it will monitor arriving ships and containers that were in Tianjin when the Chinese port was rocked by explosions on Aug. 12. In a marine safety bulletin, the Coast Guard noted that there have been no confirmed reports of...
TPM 2015 Sponsor: CMHI Erik Yim, senior commercial director for China Merchants Holdings (International), on competition in South China, CMHI's home ports development, the impact of growing manufacturing in the Pearl River Delta region and the company's expansion strategies. ...
APMT Mumbai plays down shipper complaints Gateway Terminals India, or APM Terminals Mumbai, said it is taking all the necessary steps to speed up its gate activity that has drawn complaints from logistics providers operating in Jawaharlal Nehru Port Trust, the country's busiest container gateway. "We are working closely with our clients - the shipping lines and...
Shippers, brace yourselves. You are in for a ride The turbulence sweeping global stock markets during the past few weeks is a belated recognition of what people involved in supply chains, including container shipping, have known for a while: Apart from a few bright spots such as U.S. imports, growth globally is slowing, in large part because of the...
Russia's RZD to build inland port aimed at easing St. Petersburg congestion Russian railway monopoly RZD plans to build a $30 million inland hub aimed at reducing congestion at the nearby St. Petersburg port and handling transshipped cargo from the country's largest container gateway. The 44-acre inland port capable of handling 45,300 twenty-foot equivalent units annually will open at the Shushary railroad station...
China Cosco profits soar while CSCL tumbles in first half HONG KONG - The listed units of China's two largest shipping lines reported their interim results today with wildly diverging profits achieved by the two state-owned carriers in the first six months of the year.China Cosco Holdings posted a 183 percent increase in first half net profit while China Shipping...
DHL pours investment into Africa to grow its coverage Frank Appel, Deutsche Post DHL Group CEO.HONG KONG - DHL Express will invest $20 million in sub-Saharan Africa this year to increase its footprint, taking the German logistics giant's total investment in the continent to more than $50 million in the last year.The investment reflected the importance of emerging markets...
APMT Mumbai downplays shipper complaints Gateway Terminals India, or APM Terminals Mumbai, said it is taking all the necessary steps to speed up its gate activity that has drawn complaints from logistics providers operating in Jawaharlal Nehru Port Trust, the country's busiest container gateway. "We are working closely with our clients - the shipping lines and...
LA-LB terminals move toward truck appointments In a high-risk, possibly high-reward attempt to manage truck flow and reduce congestion, 10 of the 13 container terminals in Los Angeles-Long Beach on Thursday adopted a trucker appointment system action plan with the goal of establishing a system of appointments throughout the harbor beginning in 2016. Terminal operators across the...
Tianjin Port Group CEO faces charges over deadly blast HONG KONG - Tianjin Port Group chief executive officer Zheng Qingyue has been accused of dereliction of duty by China's highest prosecutions agency after an investigation into the huge Tianjin blasts that killed at least 145 people earlier this month.The Supreme People's Procuratorate, based in Beijing, said it had taken...
DHL pours investment into Africa to grow its coverage Frank Appel, Deutsche Post DHL Group CEO.HONG KONG - DHL Express will invest $20 million in sub-Saharan Africa this year to increase its footprint, taking the German logistics giant's total investment in the continent to more than $50 million in the last year.The investment reflected the importance of emerging markets...
Task force to tackle Jakarta's lengthy dwell times Jakarta's Tanjung Priok Port.HONG KONG - The Indonesian government has set up a task force faced with the daunting goal of slashing container dwell times by more than half at the country's largest port of Tanjung Priok in Jakarta.A directive from the president's office wants the dwell time cut from...
South China carrier Chu Kong posts solid first half HONG KONG - Pearl River Delta specialist carrier Chu Kong Shipping Enterprises has reported first half net earnings up 16 percent year-over-year, following on from its healthy 14.6 percent annual profit earned in 2014.Net profit at the Hong Kong-listed group reached $15 million and revenue grew 10 percent to $120...
DAT spot market van truck rates drop; flatbed, reefer rates hold A drop in available spot market truckload van freight pushed the national average van rate down one cent to $1.76 per mile in the week that ended Aug. 22, DAT Solutions said. That decline reflects a seasonal slide in spot market demand and pricing, the load-board operator said. Dry van loads...
Stealth falls to loss Stealthgas has come in short of the market's expectations during the second quarter.
Ultrapetrol on notice South American tanker and offshore shipowner Ultrapetrol has been told to boost its Nasdaq share price to meet its listing rules.
Stealth far from potential Stealthgas has fallen short of the market's expectations during the second quarter, hot on the heels of a tanker sale.
WWS loses and lays up World Wide Supply (WWS) has seen red ink in its second quarter bottom line as the next month will see the company operating with two vessels fewer.
Cosco returns to profit Bulker and boxship owner China Cosco Holdings Co (CCHC) has made it back into the black in the first half thanks to more efficient operations and a boost from a state scrapping scheme.
CSCL profit down 97% China Shipping Container Lines (CSCL) has reported a steep decline in its first half profit although its capacity increased.
ICG on the rise Irish Continental Group (ICG) has seen passenger and freight volumes grow in a stronger regional economy.
Danske buoys Frontline Danske Bank has upgraded shares in John Fredriksen's Frontline as it closes in on a merger with spin-off Frontline 2012.
Golar's Brazilian business FSRU owner set to boost its GoFLNG concept with investment in South American LNG station.
Oceanteam sees red Oceanteam Shipping of Norway has logged a loss for the second quarter as it continues to keep its distance from the depressed oil and gas market.
Ezra in $1.25bn subsea tie-up Singapore shipping group Ezra Holdings is forming a new subsea company in a deal worth $1.25bn with Japanese engineering group Chiyoda.
Aurora's earnings triple Oslo-listed LPG carrier owner rides high VLGC rates to increased net profit and revenue for Q2.
Nord/LB stronger again German shipping lender Nord/LB has cut loan losses once again as it logged better earnings in the first half.
Hoegh pushes back Grace Hoegh LNG has delayed the delivery of a new FSRU from Hyundai Heavy Industries (HHI) in a "very soft" market.
VLGC rates lift Avance A red-hot spot market for very large gas carriers (VLGC) has pushed up the profit of Avance Gas during the second quarter.
Seadrill weaker in Q2 John Fredriksen's drillship company Seadrill has posted lower profit in the second quarter as revenue fell.
Awilco LNG falls to loss Norway's Awilco LNG has slumped to a loss in the first half of 2015 as the weakening LNG market took its toll.
Weak market hurts Golar Cool Pool partner posts moderate loss in a quarter that saw only one third of its fleet utilised.
Odfjell bounces back Norwegian chemical tanker owner Odfjell has returned to profit in the second quarter as costs were cut.
Golden Ocean bigger not better The expanded fleet of bulker owner Golden Ocean (GOGL) has fallen to a loss as vessel operating costs soared in the second quarter.
Jinhui back in the red Jinhui Shipping and Transportation has reported a second quarter loss of $13m as revenues for the period were almost cut in half.
Uni-Asia teams up Uni-Asia Holdings has teamed up with major shareholder Yamasa Co to acquire a series of four handysize bulker.
Bunker firm charged Singapore authorities clamp down on illegal sales of ship fuel within domestic waters.
Maran Nakilat expands Nakilat, the shipping arm of Qatar's liquefied natural gas (LNG) sector, is expanding its joint venture with John Angelicoussis.
RightShip to adjust GHG Emissions Rating formula Changes may cause 'a slight adjustment' to some vessel ratings.
Wartsila dual-fuel engines 'becoming industry standard' Firm says it has a 70% market share at South Korean shipyards.
Distillate/high sulphur spread affecting scrubber paybacks But DFDS says it will stick to its plans.
Distillate/high sulphur spread affecting scrubber paybacks, says DFDS But in conference call, company is sticking to its plans.
Piracy maintains grip on southeast Asia Vessels flying the Singaporean and Malaysian flags are most frequent targets.
Topoil eyes Scandinavian expansion Chartered tonnage and new storage brought in to meet growing demand.
Hapag-Lloyd in profit Aided by lower bunker costs.
Bunker player reports 'vanished' payment Authorities in move to locate suspects behind alleged cyber crime.
'Significant shift' in fuel testing since new ECA limit More focus on distillate problems, some caused by automotive diesel, while residual fuels issues ease.
LNG valve manufacturer sees growth in marine sector Growth supported by 'predicted rise' in growth of LNG-fuelled vessels.
Japan: Bunkering disruptions could see price spike Bunkering operations at Japanese ports resume on Thursday.
Singapore: MFM-equipped bunker tankers nudge 30 Ahead of 2017 deadline making equipment mandatory.
Blast at Brazilian bunkering station Facility's fuel oil heating unit bursts into flames.
Service halt for Black Sea bunkering tanker Vessel to undergo scheduled repair next month.
Singapore bunker tankers equipped with MFM solution Total number of MFM-equipped bunker tankers has increased to 28.
Crude prices decrease on concerns demand may slow US crude stockpiles declined by 5.45 million barrels last week.
Singapore's fuel oil storage operators may 'lose out' While operating in a 'challenging environment'.
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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