Eurotunnel drops MyFerryLink crewing contract Eurotunnel has announced that it will not renew its contract with the employee co-operative that crews the vessels of its ferry affiliate, MyFerryLink, when it expires in early July. The company confirmed to IHS Maritime that it had written to the co-operative, SCOP SeaFrance, to announce its
Nord LB shipping loan book returns to profit Germany's second-largest marine lender, Nord LB, said its shipping loan portfolio turned a corner in the first quarter after several years of hefty losses. Its result only from ship lending reached EUR23 million (USD25.5 million) in the first three months. A direct comparison with the corresponding
Inquest into Sage Sagittarius crew deaths under way An Australian coroner's court today began the inquest into the suspicious deaths of two seafarers on board the Panamanian-flagged bulk carrier Sage Sagittarius in 2012. The New South Wales Coroner is investigating two of three deaths on board the Japanese-owned vessel in April and May, 2012. A
German cargo ship fire contained Salvage and fire-fighting experts have made progress in containing the fire on board the 33,772 dwt multipurpose ship Purple Beach in the German Bay near Wilhelmshaven. Smoke emissions from the vessel, owned and operated by German breakbulk liner company MACS, have decreased after fire-fighters
Malaysia's Maybulk posts first quarter loss Malaysian Bulk Carrier (Maybulk) has posted a loss of MYR23.4 million (USD6.4 million) for the first quarter (1Q15) ending 31 March against a profit of MYR22.9 million in 1Q14. Revenue dropped by 27.8% to MYR51.7 million in 1Q15 from MYR71.7 million in 1Q14. It said the decrease in revenue and the
Höegh LNG mulls dollar bond issue in Nordic markets Höegh LNG (HLNG), the listed gas shipping business unit in the Oslo-based Leif Höegh group, said it is contemplating to issue five-year dollar denominated bonds in the Nordic markets. "Höegh LNG Holdings Ltd. is contemplating issuing senior unsecured bonds denominated in USD in the Nordic bond
Fredriksen's Seadrill posts quarterly profit fall Seadrill, the London-based listed drill ship and rig owner in John Fredriksen's business empire, has reported a fall in profits for the first quarter of 2015 (1Q15). Seadrill estimates the weak cycle to extend to next year, but it may create opportunities for the company. Net profit fell to USD448
Golden Ocean profit hit by weak freight rates Dry bulk shipping company Golden Ocean Group has reported a deep 1Q15 loss on weak freight rates and a USD140.9 million impairment charge, but the company has repeated its pledge to consolidate the sector in the future. Group net loss amounted to USD75.3 million in 1Q15, while a year earlier Golden
Zhuangji Group's yards hold first creditor conference Zhuangji Ship Industry and Wenzhou Yuandong Shipyard, two subsidiaries of Zhuangji Group in Zhejiang, China, held the first creditor conference on 27 May after they filed for bankruptcy reorganisation. As of 15 May, 49 creditors has demanded a total of CNY1.2 billion (USD194 million) claims from
Seoul to advise salvage companies on Sewol tender South Korea's Ministry of Oceans and Fisheries (MOF) said on 28 May that salvage companies interested in tendering for the hoisting of Sewol will be advised on preparing their bids. The MOF will hold a session at 15:00 h local time on 29 May to guide interested companies in writing technical
Icon Offshore profit drops 86% Malaysia-listed offshore services provider Icon Offshore posted a profit of MYR2.7 million (USD700,000), down 86% year on year (y/y) for the first quarter ended 31 March 2015 because of lower vessel use. Revenue dropped by MYR16.5 million or 20.5% to MYR63.6 million in the first quarter of
Bearish outlook for Precious Shipping CIMB Securities is urging investors to be cautious when buying stocks of Thai bulker owner Precious Shipping, anticipating higher losses until 2017. Precious Shipping had a net loss of THB335.69 million (USD10 million) in its first-quarter 2015 results. This contrasts sharply with a net
Wärtsilä wins another BWMS order Wärtsilä won another order for its Ballast Water Management Systems (BWMS) in the first quarter of 2015. Three new container ships being built for CMA CGM at the Jinhai Shipyard in China will be fitted with Wärtsilä Aquarius UV BWMS, a statement released on 27 May by Wärtsilä said. Wärtsilä will
IEV units secure five subsea contracts Singapore-listed offshore oilfield service provider IEV Holdings said on 27 May that its subsidiaries, IEV International and IEV Malaysia, have collectively secured five new contracts to provide subsea solutions. The contracts, worth USD2.2 million, involve structural pile grouting and free-span
COSCO delays delivery for two PSVs Singapore-listed shipbuilder, COSCO Corporation Singapore (COSCO) has delayed the delivery dates of two platform supply vessels (PSVs) after reaching mutual agreement with its buyers. COSCO did not give any reasons for the delay, according to its filing in Singapore Exchange (SGX), but speculation
Union: Callao box ops affected Replacement labour used by APM Terminals (APMT) to fill in for striking dockworkers at Peru's Port of Callao has started to affect container operations, according to the labour union's spokesman. Juan Carlos Vargas, spokesman for the Peruvian dockworkers' union SUTRAMPORPC, disputes APMT's
CMES admits risks of management level difficulties Shanghai-listed China Merchants Energy Shipping (CMES) acknowledged risks that its human resources and management levels face difficulties to meet the demand for its rapid development in the short term, in the wake of fleet expansions. The growth in the company's fleet size will raise difficulties
Donghae Port to undergo upgrades South Korea's Donghae Port will undergo upgrades soon, after port authorities selected a contractor in May. Located in the country's Gangwon province, Donghae is in the central region of South Korea's east coast. Donghae Regional Maritime Affairs and Fisheries Office said the upgrades would be
Golden Ocean posts first-quarter losses and delays 19 newbuilding bulkers John Fredriksen's main dry bulk vehicle takes an impairment charge and limits its exposure to spot markets
Yard Talk | China faces newbuilding order drought Long-term issues of Chinese shipbuilding industry laid bare in current industry downturn
High combined ratio was right move, argues Standard Club chief executive Yardstick back at 100% after hitting 113% in 2012-2013
Cosco yard delays delivery of two PSVs Terms of the agreement are rather favourable to the owner
China Shipping lends $80m to Haisheng The loan will enhance confidence of the company's future controller
LNG shipping has $8bn 'ghost fleet' Almost 10% of global LNG fleet lies idle, raising real concerns about timeline of recovery
Hapag-Lloyd enhances Scandinavian presence SDX and GTE gain twice-weekly frequency, while BAX loop is expanded to include Oslo call
Bulkers are cheap now, and could stay that way A UBS study of historical time charter rates and ship prices finds that low bulker prices are fairly valued
JES International names chief executive's mother as chairman Troubled shipbuilder brings in another member of the founder's family
ICTSI moves to acquire Mexican terminal operator Philippine port operator agrees $54.5m deal to acquire Terminal Maritima de Tuxpan
Lloyd's Register lands Maersk contract UK class society to certify 3,600 teu ships ordered from Cosco Zhoushan yard
Greece accused of 'doing nothing' to exploit cruise potential After seven years of austerity, there is no sign of concrete plan to improve the infrastructure, says RCL
Torm and Dynacom Tankers help drive up product tanker rates Owners charter out ships to haul Middle Eastern naphtha to Asia on the spot market in June, lifting market to new heights
Babilis named Stealth Maritime chief executive Vafias company manages family's 21 tankers as well as StealthGas LPG carriers
Rina targets ship safety in new integrity assessment programme Using lessons from passengership casualties, including the Norman Atlantic fire, the Italian class society offers to help owners go beyond regulatory requirements to reduce risk
Remi Eriksen named as Madsen successor Chief operating officer to take helm at DNV GL
Golar LNG profit masks challenging times Improvements in LNG shipping anticipated from third quarter onwards
Cosco bulker runs aground in US Gulf No significant damage, injury or pollution discharge has been reported
US test of technology linking trucks, vehicles advances This isn't a traffic jam, but a European test of "platooning" technology that electronically links vehicles. WASHINGTON -- "Platoons" of electronically tethered trucks could deliver significant fuel savings for carriers and help improve truck driver retention and safety, but there's still much testing to be done, the American...
Miami port rides diversions to second straight double-digit volume gain The Port of Miami posted double-digit container volume growth for the second consecutive month in April, another potential sign of the staying power of cargo diversions from the U.S. West Coast, now months after the congestion crisis has ended. Miami container volumes jumped 17.5 percent year-over-year to 93,400 20-foot equivalent units...
Averitt wins Walmart Carrier of the Year award COOKEVILLE, Tenn. - Walmart has named Averitt Express as its 2014 LTL Regional Carrier of the Year. This marks the fourth-straight year that Averitt has earned the retailer's service award. "Averitt Express has consistently provided Walmart with exceptional service, maintained excellent safety standards, and is a foremost leader in the transportation...
ATA attacks $700 million Rhode Island plan to toll truckers WASHINGTON - Rhode Island's plan to use hundreds of millions of dollars in truck fees to repair failing bridges "dismayed" the largest U.S. trucking lobby, which likened the scheme to "highway robbery." The American Trucking Associations urged the Ocean State to reject the infrastructure funding program proposed this week by...
Dockworker walk-off closes two largest Israeli ports Two of Israel's largest seaports remained closed Thursday after dockworkers defied a court order, leaving their posts in opposition to new government contracts with private port operators. At the ports of Ashdod and Haifa, 2,400 workers have left their posts and union leaders have gone underground, Reuters reported. Thursday afternoon, Ashdod...
OECD, carriers disagree on mega-ship savings Separate reports by a unit of the OECD and the trade organization of container ship lines offered starkly different views Thursday on effect of larger ships on costs and port congestion. The International Transport Forum of the Organisation for Economic Co-Operation and Development, warned that the overall transport costs caused by...
Panama Canal expansion will unleash huge supply of tonnage for all-water services The expansion of the Panama Canal early next year will make an enormous quantity of container ship tonnage available for services that transit the canal, wiping away current capacity restrictions that restrict usage to only small and inefficient ships by today's standards. The opening of the third set of locks, currently...
CEVA moves Australia's loose change to help Gen Y fight poverty Melbourne, Australia, 28 May, 2015 - CEVA Logistics, one of the world's leading supply chain companies, is partnering with Y Gap (Y Generation Against Poverty) in Australia to support the not-for-profit volunteer organization's innovative 5cent campaign. Y Gap's 5cent campaign, now in its fourth year, asks Australians to donate their five...
Protests disrupt intermodal operations, impacting India's ports Civil unrest in parts of India is causing rail freight traffic chaos in the country's busiest northern corridor linking hinterland points around Delhi and major gateway ports on the west coast, including the largest port of Nhava Sheva. The unrest follows a week-long protest over status classification by ethnic Gujjars in...
Samskip formally launches consolidated logistics unit Organisational changes to simplify and streamline operations at Samskip first announced in May 2014 have borne fruit with the formal launch of Samskip Logistics. Samskip Logistics brings all of Samskip's dry and reefer forwarding activities under a single business unit, including Samskip Icepak Logistics and forwarding services previously operated through country...
Fire on German ship carrying containerized fertilizer contained Salvage and firefighting personnel have made progress in containing the fire on board the 33,772 dwt multipurpose ship Purple Beach in the German Bay near Wilhelmshaven. Smoke emissions from the vessel, owned and operated by German breakbulk liner company MACS, have decreased after firefighters on Wednesday started to flood the affected...
Overseas acquisitions pay off for Hitachi logistics unit Japan's Hitachi Transport System's aggressive acquisitions in the United States and elsewhere have put it on track to almost achieve its medium-term global expansion plan, with overseas sales and profit escalating. Hitachi Transport System, the logistics arm of Japanese industrial conglomerate Hitachi, has strengthened its presence in the country's transportation and...
Canadian domestic vessels won't have to adopt ballast treatment yet Canada will not require domestic shipowners operating on the Great Lakes to equip their ships with costly ballast treatment systems until effective technology exists, Canadian Transport Minister Lisa Raitt said last week. Canada will only require ballast treatment on the Great Lakes "once it is feasible to do so", she told...
DHL infographic outlines integrator's disaster response in Nepal Deutsche Post DHL Group has wrapped up its disaster response team deployment in Kathmandu, Nepal, just over a month since the first earthquake devastated large parts of the mountain nation. The infographic summarizes the activities and challenges onsite by the logistics company. Activated by a request from the United Nations...
Panama government out in force as PSA starts terminal expansion Panama President Juan Carlos Varela at the PSA terminal expansion ceremony.PSA Panama International Terminal (PSA Panama) broke ground today to start the expansion works for Phase 2 of its container terminal on the west bank of the Panama Canal. At a ceremony to launch the expansion, Panama President Juan Carlos...
Government's rosy picture of Hong Kong port ignores critical issues Modern Terminals is one of the main Hong Kong port operators.HONG KONG - Terminal operators and logistics industry executives in Hong Kong must have thrown up their hands in frustration during a welcome address by the city's Secretary for Transport and Housing Anthony Cheung at the inaugural Global Port Research...
China Merchants extending port reach to Baltic Sea HONG KONG - China is looking at investing in the outer reaches of the One Belt One Road trade footprint as state-owned China Merchants Group considers a deal with Lithuania's port of Klaipeda on the Baltic Sea.The port will give sea access to landlocked neighbor Belarus where China Merchants is...
Tanker deliveries lag Fewer crude tanker newbuildings have been delivered in 2015 than had been expected, according to New York's McQuilling Partners.
SALT to shake 4 Scorpio Bulkers (SALT) is poised to announce sale of four more capesize bulkers as the New York-listed owner continues to slash its massive newbuilding inventory.
SEC probe eyes Cosco A senior Cosco Group executive is reportedly among 35 Chinese officials whose names appeared in a US Securities & Exchange Commission (SEC) subpoena in its "Sons and Daughters" probe of JP Morgan's hiring practises in China.
MyFerryLink cut free? Eurotunnel Group is reportedly planning to end its contract with MyFerryLink, which serves routes between France and England.
KNOP raising $137m Aberdeen owner KNOT Offshore Partners (KNOP) has priced a sale of common shares to raise up to $137m to fund a ship acquisition.
Set to splash out? US offshore support vessel heavyweight Tidewater has an eye on expansion and consolidation amid the belief a downturn in the market has more time to run.
Q88 comes to London Maritime technology firm Q88 has opened a new office in London in its effort to come closer to its European customers.
NAP's Dream dropdowns JP Morgan believes Navios Maritime Midstream Partners has a choice of four VLCCs as it prepares its first post IPO dropdowns.
Rieber offloads oldie GC Rieber Shipping has disposed of its oldest ship after it was unable to find employment.
Golden Sakura dumped Norway's Golden Ocean Group (GOGL) said on Thursday it is redelivering a chartered panamax to its owner.
Hoegh LNG mulls bond move Hoegh LNG Holdings is looking to tap the Norwegian bond market.
Seadrill beats forecasts New York-listed Seadrill has seen its first quarter profit slashed but still performed better than analysts' expectations.
Reef row goes to court Australia is suing the Chinese owner of a bulker that grounded on the Great Barrier Reef in 2010.
Heronbridge tops up One of the leading shareholders in Clarksons has topped up its holding in the world's largest shipbroker.
Namura raises forecast Namura Shipbuilding has slightly raised its full-year profit forecast but still expects to make much less than last year.
Great Harvest loss to rise Hong Kong bulker owner Great Harvest is looking to diversify away from shipping as it warned of a bigger annual loss.
Aegean makes more Aegean Marine Petroleum Network has boosted its profit for the first quarter and saw sales of marine fuel rise.
Eriksen named DNV GL CEO Remi Eriksen has been named as the new chief executive officer (CEO) of Oslo headquartered classification society DNV GL.
Ong in at BW LPG Singapore's BW LPG is bringing in BW Group senior vice president of finance Elaine Ong as its new chief financial officer (CFO).
Eskimo sale helps Golar Golar LNG has survived a poor LNG spot market thanks to the sale of a modern vessel to its spin-off.
Purple Beach boarded Efforts to save a German multipurpose (MPP) ablaze off Helgoland were succeeding on Thursday.
GOGL starts with loss Oslo-listed Golden Ocean Group (GOGL) has begun with a loss in the first quarter after it was hit by a huge vessel impairment charge.
OSG: set us free US tanker OSG is asking lenders to relax restrictions limiting its ability to pursue a merger.
Cosco delays two PSVs Cosco Corp (Singapore) says it is delaying the delivery of two PSVs ordered by an unnamed US customer in 2012.
Cosco bulker aground A Cosco-owned bulker remains aground in the US Gulf of Mexico just off the coast from the town of Port Arthur, Texas.
Navios to drop down VLs Greek shipowner Navios Maritime Acquisition looks set to dropdown two VLCCs to its master limited partnership (MLP).
UOB trims Nam Cheong Nam Cheong has seen its profit estimates for 2015 trimmed 18% by Singapore investment bank UOB Kay Hian.
Steel-cutting ceremony held for LNG-fuelled ConRo ship Newbuild expected to be delivered by Q4 of 2017.
Officials: Alaska marine fuel spill 'no longer recoverable' Vessel leaked 6,000 gallons of diesel fuel into Cook Inlet.
Port strike ends in Israel Two-day work stoppage by dockworkers at the ports of Ashdod and Haifa is now over.
First LNG-ready 'dragon class' vessel delivered Ship equipped with 'dual-fuel engines'.
Container line brings new service to US Atlantic ports 'It's a good global market economy. There's very cheap fuel, and a very, very favorable supply and demand situation.'
SMP: 'Order tracking app' now covers 40 markets 'All our customers are supported by our 24/7 International Customer Service Centre,' said SMP general manager.
DNV GL sees 'challenging markets ahead' Remi Eriksen has been named as the the group's new president and CEO.
Fuel oil stocks at five-year high Singapore's onshore fuel oil stocks continued climbing.
Panama Canal expansion 'will hit bunker volumes' 'We think the client base is going to get smaller.'
Bunker surcharge hike on intra-Asian routes Lines serving Australian ports affected.
BMS United Bunkers promotes traders Announces sponsorship of Andros yacht race.
Charterer commits to avoiding inefficient vessels 'The increasing use of energy-efficiency data is widening the gap between new 'eco' ships and the existing fleet.'
Setback for shorepower plans at Hong Kong cruise terminal Study concludes move unfeasible for the 'foreseeable future'.
Indian port gets go ahead for development Gujarat government in plans to develop bunkering sector at Kandla.
Shanghai to enforce stricter rule on marine fuels New requirement will be stricter than national standards, says official.
Shell: 'Not only about matching lube oil BN to sulphur content' Research points to potentially harmful acid stress imbalance.
Aegean's Q1 profits, revenue down year-on-year Volumes of marine fuel sales, however, increased to 2.91 million metric tonnes.
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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