Up mass rescue preparedness UK North P&I Club warns The UK's North P&I Club has "warned" ship owners about costs that might not be covered while undertaking large scale rescues in the Mediterranean Sea. A notice from the Club tells owners, "Lack of preparedness for a large-scale rescue operation could lead to a myriad of difficulties, dangers and
DEME orders first two LNG powered dredgers Belgian dredging group DEME has ordered what it says will be the world's first two liquefied natural gas (LNG)-powered dredgers from Dutch shipbuilder Royal IHC for an undisclosed price. The two trailing suction hopper dredgers will have a dual fuel capability, enabling them to use LNG or diesel,
Ocean Rig delays drillship deliveries from SHI George Economou's Ocean Rig is delaying the deliveries of two drillships it ordered at Samsung Heavy Industries (SHI). The two drillships, ordered in April, were originally scheduled for delivery in February and June 2017. However, in a Korea Exchange filing on 28 April, SHI said the customer had
Golden Ocean still threatened by weak markets, despite breathing space Ship sale and leaseback deals together with the postponement of deliveries of newbuildings unveiled yesterday has given Golden Ocean Group (GOGL) breathing space. However, the threat from the continuing weak market remains, shipping analysts at Arctic in Oslo said. "We see the transactions lifting
BHP shelves Hedland port expansion BHP Billiton has announced that it is slowing iron ore output and shelving a USD500 million port expansion plan at the Port of Hedland inner harbour. In its operational review for the nine months that ended on 31 March released last week, the miner said it would go back to its 290-million-tonne
CIMC profit surges 289% in Q1 Shenzhen-listed China International Marine Containers (CIMC) posted profit of CNY497million (USD80 million) for the first quarter of 2015, surging 289% from the profit of CNY128 million in the first quarter of 2014. The company's revenue stood at CNY14.6 billion, up 20.4% year on year (y/y), and
D'Amico enters long-range tanker market Italian product tanker specialist D'Amico International Shipping (DIS) is to extend its activities into the long-range product tanker market with a USD 88 million order for two 75,000 dwt vessels from Hyundai MIPO's Vinashin Shipyard in Vietnam. The Milan-listed company placed the order for the two
Changhang Phoenix to do well in H1 Changhang Phoenix, a bulk carrier operating unit of Sinotrans&CSC, predicted on 28 April that it would remain in the black for the first half of 2015, as it seeks to resume the trading of company shares on the Shenzhen Stock Exchange. In the first three months in 2015, the company's profit slumped
BW LPG extends VLGC fleet expansion by exercising option BW LPG, the world's largest VLGC owner, says it has exercised a purchase option for a vessel it has operated on charter about a fortnight after it announced the purchase of four newbuilds. The company, which is listed in Oslo and controlled by the Singapore based BW Maritime group, has exercised a
VLGC rates near USD100/tonne again Rates to haul LPG on very large gas carriers (VLGCs) on the benchmark Gulf-Asia Pacific route are touching USD100 per tonne again, as more tonnage is being diverted to the West-of-Suez. As of 27 April, the Baltic Exchange assessed the benchmark rate at USD96.313/tonne, up from USD88.25/tonne on 20
COSCO Shipping back to black in Q1 Shanghai-listed COSCO Shipping, the first listed subsidiary of COSCO Group, posted a profit of CNY253.5 million for the first quarter of 2015, returning to black from a loss of CNY13.1 million in the first quarter of 2014. The company's revenue in the first quarter of 2015 totalled CNY1.88 billion,
AVIC International, Deltamarin venture into EPC business Singapore-listed Chinese shipbuilding group AVIC International Maritime Holdings and its subsidiary Deltamarin are venturing into engineering, procurement and construction (EPC). Their joint venture, called Deltamarin Floating Construction, has three core business areas -environmental products
Sembcorp Marine's profit drops 15.2% Singapore-listed offshore services provider Sembcorp Marine suffered a drop of 15.2% year on year to SGD108 million (USD81.8 million) in its profit for the first quarter ended 31 March 2015. The company's revenue also saw a dip of 2.4% to SGD1.3 billion in the first quarter of 2015, compared with
Sewol captain gets life sentence The captain of Sewol, the ferry that capsized last year, has been jailed for life after the prosecution appealed for a harsher penalty. The appeals court in South Korea handed down the harsher sentence on 28 April. Lee Jun-seok, 69, was originally jailed 36 years for negligence and dereliction of
PSA starts up new terminal in Dammam Singapore-listed port operator, PSA International, has started up a new terminal in Dammam, the capital of Eastern Province, Saudi Arabia. The terminal operation was commenced by Saudi Global Ports (SGP), a joint-venture company formed between the Public Investment Fund (PIF) of Saudi Arabia and
Philippines plans laws to aid shipping sector Laws to ease shipping in and out of the Philippines could come into effect before next year's elections, a senior trade source said. Various legislative initiatives are underway, Sergio R Ortiz-Luis Jr, president of the Philippine Exporters Confederation, told the first-quarter General Membership
CSCL's profit surges in Q1 China Shipping Container Lines' (CSCL's) profit increased more than three times year on year (y/y) to CNY249 million (USD40 million) in the first three months of 2015, as a result of sharply lower operating cost. CSCL's revenue fell 9% y/y to CNY7.8 billion during the same period due to scrapping
Tanker fleet growth is top priority for Concordia Maritime Owner wants to expand its fleet to capitalise on bull market
Three of the four new LNG importers in 2015 are using FSRUs Pakistan, Jordan and Egypt have chosen the more cost-effective and flexible gas import option
US deploys destroyer to monitor Iran seizure of Maersk Tigris Update: Iran state news report claims Oaktree-owned vessel has been detained due to civil court ruling
Heavy losses continue at Hyundai Heavy Industries But Hyundai Mipo Dockyard returns to the black
Samsung wins a small sweetener for deferring Economou drillships South Korean shipbuilder revises contract value up by $23m for pushing back delivery dates of two drillships by more than a year
Flexible retrofits a must for ships of the future Samskip boss urges naval architects to be prepared for legislative changes
NSB and Columbia launch Filipino crewing joint venture Asia Marine Philippines will supply both fleets as well as third parties
Hamburg Süd moves closer to Ocean Three trio German line will contribute ship to new Asia-US east coast loop alongside alliance members
Will prediction for Baltic Sea aframaxes come true? Owner forecasts rate rises in the Baltic Sea but this week's start has been inauspicious
Yard talk | Brazilian hot water Sembcorp Marine and Keppel eye Sete Brasil restructuring expected in June to gauge impact on orderbooks
CIMC profits jump thanks to higher container demand Better economic condition of boxship operators boosts quarterly result
Germany's shipping elite changing course after KG carnage Top Hamburg names ER Schiffahrt and NSB move closer to customers and look overseas for future business opportunities
CSCL reports $40m profit in strong quarterly performance Lower fuel costs contributed to the result
Next question! Scorpio's Bugbee rejects negativity 'We've been right' says Bugbee, as product tanker market strengthens
Higher panamax rates, lower financing costs boost Danaos results Containership lessor takes advantage of congestion on US west coast
GT USA ANNOUNCES FIRST HIRE FOR U.S. OPERATIONS Port Canaveral, Fla. - April 27, 2015 - GT USA is pleased to announce the recent hire of senior-level administrator Heidi Shafer as executive personal assistant to Peter Richards, who is overseeing the company's U.S. expansion in his role as managing director of the Gulftainer Group. Capitalizing on a strong international reputation,...
Drayage drivers continue LA-LB picketing but cargo unaffected Picketing by truck drivers seeking union status continued Tuesday at the ports of Los Angeles and Long Beach, indicating that the campaign by the Teamsters union to organize harbor truckers throughout the harbor is not going away anytime soon. Nevertheless, despite the public presence of dozens of picketing truck drivers, cargo...
TPM 2015 Sponsor: Memphis Chamber, Ernest Strickland In October 2015, the JOC Inland Distribution Conference will take place in Memphis. Ernest Strickland, Memphis Chamber's Vice President of International and Business Partnerships, discusses the city's access and connectivity - unbeatable road, river rail and runway - and why the area is drawing the commercial/office sector as well as...
TPM 2015 Sponsor: Port of Virginia, Tom Capozzi With existing deep water and infrastructure receiving further investment, The Port of Virginia is ahead of many ports in its readiness to handle larger vessels, notes Chief Sales Officer Tom Capozzi. At TPM 2015 he spoke to JOC about increased traffic to the East Coast, Suez services, truck congestion and...
TPM 2015 Sponsor: CenterPoint Properties "We're seeing a gravitational pull toward railroad-related developments ... [what has been] happening at the West Coast ports has been accentuating that even more," says NAI Global Logistics' Director Adam Roth. At TPM 2015, Roth comments on increased pressure on intermodal, evolving needs of the shipping community and expected changes...
TPM 2015 Sponsor: Jon Slangerup, Port of Long Beach In July, Jon Slangerup joined California's Port of Long Beach as CEO, bringing more than 30 years of corporate leadership experience in global logistics and environmental technology. At JOC's TPM 2015, he discussed the great opportunity he sees in using emerging technology to radically redesign the fragmented supply chain process,...
TPM 2015 Sponsor: CSX, Todd Biscan 2014 brought weather and capacity challenges to intermodal service. Todd Biscan, Director of International Sales, Intermodal, details CSX Transportation's efforts to increase capacity to combat that, including an increase of capital spending increase to $2.5 billion for 2015, as well as the "CSX Transportation Network Advantage." ...
TPM 2015 Sponsor: Haven, Matt Tillman At TPM 2015, Haven, a new startup business in the shipping industry, launched an online platform allowing shippers to be more self-sufficient, comparing and reserving container slots from ocean carriers. CEO and Founder Matt Tillman discusses connecting shippers directly with carriers, and moving beyond rates as a differentiating factor of...
TPM 2015 Sponsor: Port of Long Beach, Dr. Noel Hacegaba After an agreement was reached in labor contract negotiations impacting West Coast ports this March, the backlog caused by months of disruptions remained. Chief Commercial Officer Dr. Noel Hacegaba on the expected timeline for returning to normal operations at the Port of Long Beach, as well as chassis optimization changes...
TPM 2015 Sponsor: ABF Logistics, Carlos Martinez-Tomatis Carlos Martinez-Tomatis, ABF Global's Division Vice President, on the forecast for trans-Pacific volumes - increasing imports but flat exports - and challenges that can be met by utilizing more less-than-containerload shipping and bypassing distribution centers. ...
TPM 2015 Sponsor: COSCO, Howard Finkel At TPM 2015, shortly after West Coast dockworkers reached an employment agreement that narrowly averted a shutdown of 29 ports, Howard Finkel, Executive Vice President, COSCO Container Lines Americas, spoke to JOC about the reality of what is needed to clear the backlog, and other challenges facing the industry. ...
West Coast arbitrator sues carriers, ILWU The arbitrator who became a key sticking point in labor negotiations on the U.S. West Coast earlier this year has filed suit against shipping companies and the International Longshore and Warehouse Union. David Miller, a 64-year-old workplace arbitrator at the ports of Los Angeles and Long Beach, took center stage in...
Shippers press FMC to quickly act on demurrage fees Cargo interests urge the Federal Maritime Commission to take action against carriers and marine terminals that assess late charges for the pickup and return of equipment when the shipper's ability to comply with the demurrage and per-diem requirements is compromised because of terminal congestion. In a letter Monday to the FMC,...
Swift doubles profit, prepares to raise driver pay Truck drivers at Swift Transportation will get a "material, targeted wage increase" May 1, the second big increase in driver pay at the largest U.S. truckload carrier within a year. Although the scope of the wage hike wasn't announced, the pay increase will be powered by profit that nearly doubled in...
Port to Long Beach to Consider Cement Import Facility Final EIR The Port of Long Beach has prepared the final environmental impact report for the Mitsubishi (MCC) Cement Facility Modification Project. The Port's Board of Harbor Commissioners will consider the adequacy of the final EIR at its regular meeting May 11, and whether to approve the proposed project. Mitsubishi Cement...
Iranians fire shots across Maersk vessel's bow Iranian patrol vessels fired warning shots across the bow of the container ship Maersk Tigris when the vessel was traversing the Strait of Hormuz in Iranian territorial waters, a Pentagon spokesman said. Click to enlargeMaersk said the ship is operated in the carrier's ME3 service covering the Black Sea and Persian...
DHL Takes Delivery Service to New Heights in Chicago Plantation, Florida: April 28, 2015: Starting today, helicopters won't just be used to report on Chicago's notorious traffic gridlock; they'll actually help get international shippers through it. DHL, the world's leading international express services provider, launched its helicopter service in Chicago to provide early morning delivery services for the area's financial and...
Costamare confirms order Costamare confirmed the addition of a newbuilding at Hanjin Heavy Industries & Construction's Subic Bay yard alongside York Capital as it reported a forecast-topping first quarter profit today.
Spain ferry evacuated Passengers and crew of a ropax ferry operated by Spain's Transmediterranea-Acciona have abandoned ship after a fire ignited on the vessel.
Oaktree boxship seized off Iran Iranian forces have seized an Oaktree Capital Management-owned containership in the Strait of Hormuz, US officials said today.
Fairwood taps Golar man Delfin LNG owner Fairwood Peninsula Energy has hired a key executive from Golar LNG
Cascade headache Hamburg Sud has been hit by falling rates as bigger boxships force smaller vessels on to its key North-South trade routes.
NSB expands in Asia Germany's NSB has founded a new crewing joint venture in Philippines alongside long-term partner Columbia Shipmanagement.
Concordia calls recovery A red-hot tanker market has seen Concordia Maritime's first quarter profit race past its total for the whole of 2014.
Maersk ship hit by fire Firefighters have extinguished a cargo hold blaze on a Maersk containership off Mauritius.
Sell-off hurts SALT in Q1 Scorpio Bulkers carried a $31.8m charge on newbuilding sales on its way to a first quarter loss.
Strong start for CSDC A strong first quarter performance for China Shipping Development (CSDC) has followed the company's return to black for 2014.
TNG wins tanker deal Newly-listed Croatian owner Tankerska Next Generation (TNG) has fixed a new Korean resale tanker for three years at what it called a "superior" market rate.
Diana in double deal Diana Shipping has re-entered the sale and purchase market to acquire a capesize newbuilding from Scorpio Bulkers.
Samudera builds up profit Samudera Shipping has slashed the cost of its services to book a bigger profit for the first quarter despite lower revenue.
GSI loss grows Hong Kong-listed Guangzhou Shipyard International (GSI) has revealed a bigger loss in the first quarter as costs rose.
Parakou decision delayed A key vote in Parakou Tankers' attempts to reverse into a Nasdaq listing has again been delayed.
Sewol master gets life Sewol's captain has been found guilty of homicide and sentenced to 36 years in prison, overturning an earlier conviction for negligence.
Nord/LB cuts loan losses German bank Nord/LB has reduced provisions for bad shipping loans during 2014, but the sector will still be a drag on its results this year.
Scorpio Tankers dividend to rise Wall Street's leading shipping analysts are predicting further dividend rises for Scorpio Tankers after it reported its strongest quarterly results as a public company yesterday.
Mipo on the mend Hyundai Mipo Dockyard has kicked-off the year in the black erasing a loss during the same period of 2014 and keeping its momentum from a strong fourth quarter.
MES profit slumps Japan's Mitsui Engineering & Shipbuilding (MES) has posted a steep decline in earnings in the year to 31 March.
Seaspan seals $890m loans New York-listed Seaspan has clinched new loans worth $887.7m as first quarter profit rose.
Seaspan orders seven New York-listed Seaspan has inked orders for seven containerships in two deals worth $653.5m.
Economou delays drillships? After months of speculation George Economou appears to have succeeded in pushing back the delivery of a pair of drillships at Samsung Heavy Industries.
Samsung swings to profit Samsung Heavy Industries has sprung back into the black in the first quarter.
HHI loses more Hyundai Heavy Industries (HHI) has failed to show signs of recovery as it sank deeper into the red during the first quarter of the year.
Vyborg wins icebreaker Russian nuclear agency Atomflot will spend RUB 6bn ($115m) on a new icebreaker at Vyborg Shipyard.
HPH makes weaker start Hutchison Port Holdings Trust (HPH Trust) has made a poor start to 2015 with first quarter results down 49% on a year ago.
Bunker clean-up begins Authorities have started a clean-up operation in Tauranga, New Zealand, after a bunker line spilled oil.
BW LPG adds VLGC BW LPG has bought a VLGC it has been bareboat chartering since 2004 for a bargain price.
Mississagi bulker refloated Salvors have managed to refloat the Rand Logistics bulker that went aground off the US state of Michigan last week.
Aframax under arrest An aframax tanker has been arrested for the second time in less than eighteen months, TradeWinds has learnt.
China bauxite imports surge China's bauxite imports more than doubled in March on higher demand, according to Chinese customs data.
GLBS profit down 26% Globus Maritime has seen its four quarter financial performance deteriorate by 26% on the back of the weaker dry cargo market.
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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