Risk Intelligence launches port risk tool Danish maritime security company Risk Intelligence today launched a platform dedicated to analysing and advising on ports risks. PortRisk will offer clients real-time, around-the-clock intelligence, risk assessment, and general security data on 103 ports in medium- and high-risk areas across 67
Indian port scraps first deferred-payment dredging plan A first attempt by an Indian port to undertake channel deepening work on annuity - deferred payment - basis has failed. The board of trustees of state-owned Mormugao Port rejected the only tender, which had been submitted by a consortium of Van Oord Dredging and Marine Contracting and local firm
AET Tankers signs for eight newbuildings AET Tankers, a subsidiary of Malaysian carrier MISC has contracted eight crude oil and product tankers. On 27 October, AET ordered four 113,000 dwt Aframax tankers from Samsung Heavy Industries to be delivered in 2018. The company on 28 October contracted two 114,000 dwt LR2 product tankers and
Hyundai Glovis books four car carriers at HMD Hyundai Glovis, the logistics arm of Hyundai Motor Group, said on 28 October that it had ordered four car carriers at Hyundai Mipo Dockyard. The vessels are worth KRW334.7 billion (USD295 million) and will be delivered by 27 December 2017. Hyundai Glovis said in a Korea Exchange filing that the
Panamax box ships back in the doldrums Charter hire rates for container vessels continue to drop this week, with the New ConTex dropping 9 points (or more than 2%) to 391 points following yesterday's broker panel. Last week the market barometer, which is published by the Hamurg Shipbrokers' Association (VHSS), fell by 3%, weighed down
Shell agrees LNG deal with Gibraltar The government of Gibraltar has announced it has signed a Heads of Agreement with Shell Gas and Power that heralds a new era of LNG energy in the UK overseas territory. Last month, Shell said it planned to create an LNG bunkering hub in Gibraltar to serve all ship operators bunkering in the
HMM refutes talk of merger with Hanjin Shipping South Korea's second biggest shipping company Hyundai Merchant Marine (HMM) on 28 October refuted rumours that the government has asked it to merge with its bigger compatriot Hanjin Shipping. The Korea Economic News newspaper reported on 28 October that the Seoul government had asked the two
CMES January-September 2015 profit skyrockets Shanghai-listed China Merchants Energy Shipping (CMES) recorded profit of CNY1.63 billion (USD256.2 million) for the January-September 2015 period, a fourfold increase year on year (y/y), fulfilling its 400-430% profit surge projection. The profit hike was largely attributed to the Chinese
Exim Bank of China inks MoU with ING Bank worth $1bn The Export-Import (Exim) Bank of China has inked a three-year memorandum of understanding (MoU) with the Netherlands-based ING Bank, worth USD1 billion. The MoU aims to enhance the co-operation between the two parties in the financing of Chinese-built ships, both new and second-hand, as well as
China Shipping Development posts stronger earnings Chinese player expects full-year profits in 2015 to double from 2014 level on higher tanker rates and better cost control
CAI's profits dampened by sluggish peak season Revenues up, but slowdown in demand dents third-quarter container utilisation levels
Panamax index slightly down The Baltic Exchange Panamax Index weakened ever so slightly in the past week on most routes due to still slow activity
Gard announces 2.5% general increase for 2016 First-half $46m result brings reserve to $1bn
Risk Intelligence launches port risk database product Website will allow owner to factor in security when planning calls
China Cosco posts $220m losses in third quarter Company returns to the red without a cheque for shipbreaking
Battleground in UK logistics sector hots up More than half of operators' new business comes from floating customers, survey suggests
APL and NOL's Ng Yat Chung honoured at Lloyd's List Asia Awards Diverse field of recognition tilts toward Singapore, with Maritime Foundation's executive director David Chin honoured for pioneer achievement
No GRI for The Shipowners' Club P&I club reports small surplus
Get your orders in before emissions rules force costs higher Owners may be ordering to avoid costly compliance issues
Houston on course for record year despite monthly blip US Gulf Coast port expects to eclipse the 2m teu barrier for the first time in its history
Weaker box demand dampens CIMC third quarter Energy equipment and offshore sectors also fared worse
Hapag-Lloyd: Timing is everything Alistair Hill looks at the economics and timing of Hapag-Lloyd's initial public offering and what it means to the German liner company
AET spends $500m on newbuildings in Korea Vessels ordered for fleet renewal and oil major charter
UBS downgrades Star Bulk on expected equity issue Bank believes owner's debt repayments will outweigh cash from operations
Seacor third quarter net profit slides amid weak offshore sector Company planning more cost cutting measures
Maersk Oil to cut worldwide workforce by 10%-12% Continued weakness in oil prices to blame
NOL unit APL to pay $9.8m to settle false claims charge APL says settlement does not constitute admission of wrongdoing
AAL opens Dubai office to tap Middle East market Middle East office will provide local clients with tramp and project shipping services
US Navy's first search for El Faro pinger unsuccessful Sonar technology will now be used to locate vessel
Gener8 bags $60m credit facility for newbuilding VLCC delivery Citibank facility secures long-term financing with China Export and Credit Insurance
Ardmore Shipping ends the third quarter with a bang Bullish product tanker market and charters rate led to profit jump
General Dynamics starts tanker construction for APT Vessel is third of a fleet of five ordered by American Petroleum Tankers
Heartland Express profit, truckload revenue drop Higher driver wages and lower freight volumes helped pull down net profit for the second straight quarter at Heartland Express. Heartland's net profit dropped 33.5 percent year-over-year in the third quarter to $15.1 million, while operating revenue declined 15.9 percent to $182.5 million. Net profitat the North Liberty, Iowa-based firm fell 11.9...
CN profit jumps by double-digits on strong intermodal business Canadian National Railway beat expectations and "a tough volume environment" in the third quarter, executives said, as profits surged on strong domestic and overseas intermodal demand. The Montreal-based railroad's net income rose 18 percent year-over-year in the third quarter to C$1.49 billion, or $1.12 billion. Revenue, too, grew 3 percent year-over-year...
Trans-Pacific trade deal expected to save millions for US footwear importers LONG BEACH, California - Footwear importers will save millions of dollars in annual duties if the Trans-Pacific Partnership trade agreement is implemented by the participating countries in the coming two years, the president of the Footwear Distributors and Retailers of America said Tuesday. The biggest immediate gains for footwear importers will...
NY-NJ port volume rockets 14 percent in September A double-digit jump in loaded imports at the Port of New York-New Jersey pushed total traffic up 14.3 percent year-over-year to set a September record. Loaded imports in September were up 13.5 percent year-over-year to 286,354 twenty-foot-equivalent units and loaded exports grew 1.2 percent to 111,959 TEU. After a long stretch of...
C.H. Robinson gains volume, strengthens profit The economy may be softening, but for C.H. Robinson Worldwide, the largest U.S. non-asset third-party logistics company, business keeps rolling in. North American truckload volumes rose 7 percent in the third quarter, while less-than-truckload volumes rose 32 percent year-over-year. "This is the 24th consecutive quarter where we have grown our year-over-year...
APL to pay $9.8M to US to settle allegations of false container tracking claims APL has agreed to pay $9.8 million to the U.S. government to resolve allegations that the carrier misrepresented its ability to track containerized military shipments from Pakistan to Afghanistan. The Department of Defense had contracted the container line to track every container that moved from Karachi to military bases and outposts...
Intermodal volume slip contributes to NS profit drop A one-two punch of falling intermodal volume and weakness in the coal market hit Norfolk Southern Railway hard in the third quarter, prompting railroad executives to downplay expectations for the rest of the year. After intermodal growth slowed considerably earlier this year, total intermodal volume fell 1 percent year-over-year in the...
Interview with Peninsula Petroleum for Platts Mediterranean Bunker Fuel conference Will Bathurst, Manager Business Analysis and Intelligence, at Peninsula Petroleum, will be one of the conference speakers.
Shipmanager fined in United States In oily water dumping case.
LNG bunkering: 'Early movers will secure a leading position' 'The move from oil to natural gas is simply the next progression in the evolution of maritime transportation.'
US targets Lebanese shipping company Sanctions linked to allegations of drug-trafficking and money-laundering.
BV publishes note for 'Gas-Prepared' vessels 'Many owners consider that they will switch to LNG as a fuel in the future, but are not yet ready to make that change.'
Singapore to publish LNG bunkering guidelines Pavilion Gas working alongside industry partners to complete draft by next year.
DNV GL unveils quality guide for LNG bunkering Guide is an update to an earlier LNG bunkering document.
LNG bunkering: Crew competence a 'big challenge' 'Move from a liquid bunker oil supplier to gas bunker supplier is not for the faint hearted,' says Lloyd's Register.
Singapore to publish LNG bunkering guidelines in 2017 Pavilion Gas working alongside industry partners to complete draft by next year.
DNV GL unveils fiscal and quality guide for LNG bunkering Guide is an update to an earlier LNG bunkering document.
LR: Crew competence 'big challenge' for LNG bunkering 'Move from a liquid bunker oil supplier to gas bunker supplier is not for the faint hearted.'
Crude at $80 per barrel 'ideal', says UAE economy minister 'We could see a pickup in China and some other parts of the world.'
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