Savannah sets cargo record Container volumes and total tonnage hit all-time records in May at the Port of Savannah. The Georgia Ports Authority (GPA) announced on 29 June that its container business grew 16.4% year-on-year in May to 338,000 teu. Bulk cargo across all terminals grew 60% to reach 256,382 tonnes.
MyFerryLink crews halt ferry sailings out of Calais Ferry sailings between Calais and Dover were brought to a halt today for the second time in a week by industrial action by the crews of struggling French operator MyFerryLink. A spokeswoman at the port of Calais told IHS Maritime this evening that the port had been obliged to halt all ferry
Europe unveils biggest-ever transport investment European Union port hinterland connections are set to get a EUR13.1 billion (USD14.5 billion) boost under the European Commission's largest-ever transport infrastructure investment. The plan comprises 276 projects. Major rail and inland waterway links are the main beneficiaries, but also included
'Grexit' fear hits shipping shares Shipping stocks are falling on the threat of a Greek debt default, but some commentators claim industry impact will be immaterial. The government of Greece placed capital controls on the banking system on 28 June. Greece faces a USD1.8 payment deadline on an International Monetary Fund on 30 June.
Procal emissions analyser gains DNV GL certification Parker Procal has announced that its Procal 2000 emissions analyser has received DNV-GL certification. It has met the requirements of MEPC 184(59) Chapter 6 on emission testing of CO2 and SO2, as well as the requirements of the revised MARPOL Annex VI and NOx Technical Code 2008. The analyser's
News analysis: Big step for man overboard Long ignored man overboard safety and rescue is finally in good hands but uniformity and rescue-minded approach are key to put the industry on the right path, writes IHS Maritime's Veronika Farkas.
TGS agrees to buy Polarcus' multiclient library TGS NOPEC Geophysical, the multiclient geoscience data provider, has signed a letter of intent to acquire Polarcus' multiclient library, with the exception of Australia, for USD27.5 million on a cash and debt-free basis. The transaction is subject to due diligence and final definitive documents
Italy invokes arbitration as India further delays marines' trial Italy has tired of delays in bringing to trial in India two Italian marines accused of firing on and killing two fishermen while guarding an oil tanker against piracy attack. On 26 June, the Italian foreign ministry announced that it had invoked an international arbitration procedure under the UN
Chinese moves offer short-term hope for dry bulk An interest rate and reserve requirement ratio cut in China is good news for the dry bulk freight market that has enjoyed recovery from all-time low levels - but that recovery is unlikely to be sustained, shipping analysts said. The People's Bank of China (PBoC) cut its one year lending rate by 25
Shandong Offshore International to acquire Northern Offshore Shandong Offshore International has agreed with John Frederiksen's Northern Offshore (NOF) to acquire NOF at NOK7.59 (USD0.97) per share in cash. The deal values NOF's issued share capital at about NOK1.3 billion and the acquisition will be financed from the purchaser's existing cash resources, NOF
DSME CEO expects loss for 2Q15 The CEO of South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) does not expect the flow of red ink to stop when it announces its earnings for the second quarter of 2015. At a press conference to mark his inauguration as CEO, Jung Sung-Leep, who previously helmed STX Offshore &
DSME halts purchase of STX France South Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has decided not to acquire a majority stake in STX France for now as the shipbuilder wants to focus on stability, rather than external growth. DSME CEO Jung Sung-Leep made the announcement at a press conference on 25 June to coincide
Binzhou box terminal inaugurated Binzhou Port Qinggang International Terminal (BPQIT), a container terminal operator in China's Binzhou port in Shandong province, was inaugurated on 26 June to serve the Binzhou port's domestic container trade. The BPQIT is a joint venture between Shandong's Binzhou Port Group and Qingdao Port
Tanker detained in Singapore Singapore-flagged tanker Sophie 9 was arrested in the Port of Singapore on 25 June under the instruction of local law firm Rajah & Tann. The 6,141 dwt vessel with IMO registration number of 9553270 is owned by Singapore-based DH Marine and managed by Oceanlink Services. "The vessel shall be handed
Shipbreaking prices sour further Ship scrap prices decreased again from 22 to 26 June as the South Asian monsoon took its toll on ship demolition activities. As a result, no sales were reported except for that of a tanker that was sold for demolition in Bangladesh. Bulker scrap prices have slipped to USD345-USD350/ldt, compared
Yinson to raise $79m to pay loans Malaysia-listed offshore services provider Yinson Holdings plans to raise MYR300 million (USD79 million) share placement to pare down bank borrowings. According to its filing to Bursa Malaysia, the proposed placement is slated to improve the company's financial position by reducing its gearing to
Otto Marine wins new deals worth $131m Singapore-listed offshore services provider Otto Marine has clinched new contracts worth USD131 million in the second quarter of 2015 amid bearish market demand. The bulk of the contracts was contributed by its chartering business, which is in line with the company's strategy of improving its fleet
LNG bunkering to spur new ship orders Growing demand for cleaner ship fuels, and thus LNG bunkering, would result in more orders for ships running on LNG, a sector analyst has opined. CIMB Securities analyst KJ Hwang made this conclusion after meeting industry experts at the recent South Korea-Norway green ship seminar. Hwang noted,
North P&I expects improved performance in 2015 Last year's underwriting loss and high claims level are just part of insurance life, say joint managing directors
Yard Talk | Labour issues drive debate over automation Shipbuilders in Japan and South Korea seem keener on automating shipyard work than their Chinese counterparts
Scorpio Bulkers fixes capesize time charter deal at $14,500 per day Deal by NYSE-listed owner reflects strong market sentiment
LNG import terminal plan adds twist to Panama Canal expansion tale Authorities eager to take advantage of new LNG carrier traffic expected in expanded canal
Transpacific carriers face struggle to hold on to east coast rate premiums Rise in transpacific services via the expanded Panama Canal could result in oversupply to US east coast, says Drewry
CMA CGM to host China's prime minister at Marseilles HQ Update: Top level ministerial delegation underscores close ties between French line and China
US protectionism over energy exports threatens opportunities for global shipping industry, warns ICS Moves to restrict LNG exports to US-flagged vessels not currently possible, claim industry sources
Wan Hai jumps to top of reliability league Shake-up in liner on-time performance as alliances struggle with schedules
Capesize rates could break $20,000 per day on Chinese restocking But analysts still hold dim view over longer term market prospects and say rally likely to be short
Aurora LPG buys back own shares Owner invests in itself as VLGC companies remain undervalued
A different sort of shipping There is a lot more to the maritime world than tankers, bulkers and boxes, as the recent Seawork Marine Exhibition showed us
The Suddath Companies recognized as one of 2015's Best and Healthiest Places to Work JACKSONVILLE, Fla. - The Suddath Companies, a leader in global transportation, office moving and relocation management, announced it has been named one of the top companies in Northeast Florida as "Best Places to Work" by the Jacksonville Business Journal. Suddath® was recognized in the large-sized employer category (500+ employees). A total...
Maritime Administration highlights U.S. Merchant Mariner role supporting national security WASHINGTON, DC - The U.S. Department of Transportation's Maritime Administration (MARAD) has released a three-part video series documenting the MV Cape Ray's historic role supporting the destruction of Syrian chemical weapons at sea. The 648-foot roll-on/roll-off sealift vessel, part of MARAD's ready Reserve Force, underwent historic modifications that converted the...
The Business of Supply Chain is Changing Through Innovation Summit Michigan Supply Chain Innovation Summit co-hosts, Michigan Economic Development Corporation (MEDC) and Prima Civitas, are proud to present top experts who are pushing the boundaries of today's best supply chain practices. Network at the opening-night private reception and elegant dinner at The Henry Ford Museum, America's greatest innovation showcase. Meet innovative industry leaders and hea
Suspension of TBL service to North Mali CMA CGM informs its customers that for safety reasons, TBL traffics to North Mali (Kignan, S'gou, Mopti, Sevaré, Gao, Kidal, Menaka, Ansongou, Tessalit, Timbuktu) via Dakar are temporarily suspended. Bookings remain open to the following destinations in South Mali....
Chinese Prime Minister to visit the CMA CGM Group headquarters The CMA CGM Group is honored to receive the Chinese Prime Minister Mr Li Keqiang in its Marseilles headquarters on July 1st. He will be accompanied by France Minister of Foreign Affairs Mr Laurent Fabius, the Minister of State for Foreign Trade Mr Matthias Fekl and a chinese ministerial delegation during...
Walters re-elected GPA chairman Savannah, Ga. - The Board of Directors of the Georgia Ports Authority today re-elected James A. Walters of Gainesville to serve as chairman. Appointed to the GPA board by Georgia Gov. Nathan Deal in 2012, Walters just completed his first one-year term as chairman, having previously served as vice chairman. "At a...
US Senate bill asks whether 18-year-olds should drive heavy trucks Should under-21-year-olds be allowed to drive trucks in interstate commerce? A bill introduced in the U.S. Senate last week would create a federal pilot program to study the effects of allowing drivers 18 years of age to haul freight across state borders. The bill, in part, is meant to help alleviate...
European ports to expand hinterland reach via EU aid Port of Rotterdam container yard and rail connection.European ports' hinterland connections will get a boost via the European Union's largest-ever infrastructure investment totaling 13.1 billion euro ($14.5 billion). Of the plan comprising comprising 276 projects, major rail and inland waterway links are the main beneficiaries. Ports, notably those used for LNG...
LA terminal expansion to allow better handling of increasingly larger vessels The Yusen Terminals Inc. terminal at the Port of Los AngelesThe Port of Los Angeles announced Monday it will begin construction this summer on a two-year, $127 million project to improve the marine terminal operated by Yusen Terminals, so that it can more efficiently handle larger vessels. West Coast marine terminals'...
Logistics center to serve Oakland port gets more funding The Oakland Board of Port Commissioners Monday approved a $470 million fiscal year 2016 budget that will fund the continued development of logistics center aimed at boosting container volume at adjacent marine terminals, and other port productivity initiatives. Thirty-two million dollars will be spent to develop the former Oakland Army Base....
Savannah harbor pilots may face steep rent increase The Port of Savannah Pilot Base on Cockspur Island, GA. Credit: Bruce Tuten A proposal that could drastically increase costs for harbor pilots at the Port of Savannah could cause operational problems at the U.S. South Atlantic's busiest port, a Georgia congressman warned last week. Rep. Buddy Carter, R-Ga., on Thursday said...
EU presses Greece to increase shipping taxes The COSCO Beijing, owned by the Greek Costamare Inc.LONDON - The European Union stepped up pressure on the Greek government to levy a higher tonnage tax and end tax breaks for the powerful shipping industry amid growing fears the country is heading for default and an exit from the eurozone. The...
Record Savannah volume highlights port's market share gain Containerized cargo volume at the Port of Savannah in May set a record for the third consecutive month, indicating that the busiest U.S. South Atlantic port continues to gain market share from regional and West Coast competitors. Savannah's Asian volume boosted the port's market share of southeastern Atlantic Coast ports (Miami...
East, Gulf coast ports prepare for expected cargo spike SAN FRANCISCO - The diversion of cargo from West Coast ports this past year taught East and Gulf Coast ports a valuable lesson. They better start planning now if they are going to be prepared for another spike in cargo volumes next spring with the completion of the Panama Canal expansion project. The...
Chinese ports at turning point China's slowing economy has led to port development projects being delayed as operating companies start to leverage more powerful IT software and more focused management expertise. This marks a turning point for the country's port sector, Ningbo Port Group's chief economist Tong Mengda told the Intermodal Asia 2015 conference in Shanghai....
Private Indian ports take more public ports' market share Krishnapatnam Port Minor ports in India are aggressively eating into the market share of their government-owned big rivals, as shippers and ocean carriers frustrated with growing delays at some of the leading public port complexes, including Jawaharlal Nehru Port Trust, look for alternative port options, according to an analysis of port...
FedEx seeks EU approval for TNT Express acquisition LONDON - FedEx has formally asked European Union competition regulators to approve its 4.4 billion euro bid ($4.9 billion) for TNT Express two years after they rejected a planned 5.2 billion euro takeover by its U.S. rival United Parcel Service. The E.U. is expected to nod through the bid with relatively...
China's audit office issues damning report on Cosco finances HONG KONG - Cosco, the largest shipping line in China, is back in the corruption spotlight with the National Audit Office issuing a report that accuses the carrier of serious financial irregularities.The mainland's highest audit authority, one of China's principle instruments in President Xi Jinping's fight against corruption, released its...
Asia-EU capacity cuts raise hopes of peak season rate rise, Drewry says HONG KONG - Carriers on the Asia-Europe trade held out for as long as they could - or longer than they should, considering the recent rate collapse - but after four months of steadily falling spot market prices, the lines have finally been forced to reduce capacity. Click to EnlargeThe action...
Mercator's plan approved Mercator Lines has been given the green light to move forward with its share consolidation by the Singapore stock exchange.
Major Miner move over The last piece of the wrecked bulker Miner has been removed from Canada's Scaterie Island.
US stocks go red The share prices of Greek shipping companies trading in the US have taken a hit in early trading on Monday.
Cosco target raised Barclays Research has hiked its price target for China Cosco Holdings Co (CCHC) due to its central role in the country's imports.
Juncker targets owners European Commission president Jean-Claude Juncker openly admitted on Monday he has pressured the Greek government to increase shipping tax as part of a renegotiation of the country's international bailout.
Bolivia eyes gas exports Bolivia has agreed a deal that could lay the foundations for gas exports to be shipped to Asia.
Collision probed Experts begin investigation into clash between Scorpio tanker and cruiseship in Dardanelles.
Indonesia's $10bn yards? Five groups are ready to spend up to $9.6bn on four new shipyards in Indonesia.
LNG ferry pulled free A gas-powered cargo ro-ro has been pulled free after grounding off Norway.
All eyes on Greece Greece has shut its banks and imposed capital controls as the euro fell almost 2% against the dollar yesterday in Asian markets amid fears of a Greek debt default.
Aurora begins buyback LPG carrier owner Aurora LPG has kickstarted its share repurchase scheme with an outlay of NOK 16m ($2.03m).
BLT prepares plan Indonesia's Berlian Laju Tanker (BLT) is to disclose its restructuring plan ahead of a shareholders meeting next month.
Amadeo I righted A capsized Chilean ro-ro has been brought upright nearly a year after it grounded.
Tank-barge captain jailed The captain of a tank-barge that exploded in the US 10 years ago, killing one crewman, has been jailed for six months.
Polarcus cashes in Middle East shipowner Polarcus has sold seismic survey contracts in Europe and West Africa to TGS-NOPEC.
Fredriksen offloads NOF John Fredriken is selling drilling company Northern Offshore (NOF) to Chinese interests, the Oslo-listed company disclosed Monday.
Skin in the game John Tavlarios, chief operating officer of Gener8 Maritime, has shown his faith in the tanker owner by buying shares in the company.
Otto Marine builds backlog Otto Marine says it has secured new orders worth $131m in the second quarter of 2015, but details were few and far between.
Statoil cancels rig charter Failed deal leads to job losses as rig's Chinese owner sacks 229 staff in Europe.
Great Amity refloated A bulker that ran aground on Argentina's Parana River last week has been refloated over the weekend.
'Flood of new LNG' supplies expected this year Asian LNG importer paying lowest prices for six years.
UASC exempt from being an FMC 'controlled carrier' And is praised for 'environmental stewardship'.
No easy route for shipowners facing multiple OW claims 'Interpleader proceedings' in US courts can only offer protection in certain cases.
New hires for Dan-Bunkering Bringing Monaco team to eight.
Gloomy outlook for planned Rotterdam terminal Russia casts shadow over Summa Group's project.
Bunkering at Hambantota seeks new management Port authority looking for way out from loss-making operation.
Futures contract could be launched this year Chinese regulator says it needs three more months to work on the rules and guidelines.
Mobil meets costs of Tauranga spill Fuel pipeline to close for another three months.
Analyst: LNG-fuelled vessel growth LNG bunkering operations expected to become more popular.
Hong Kong: Participating ships to re-register for extended emissions scheme Current incentive scheme expires on September 25.
Analyst expects more LNG-fuelled vessels to come LNG bunkering operations expected to become more popular, says CIMB Securities spokesman.
Hong Kong: Registration for extended low-sulphur incentive scheme now open Current incentive scheme will expire on September 25, 2015, says Marine Department.
Petrolimex resumes bunkering operations Marine fuel deliveries resumed since Saturday, according to trader.
OW Bunkers board chairman denies culpability Finds it 'completely unreasonable' to potentially have to spend years fighting lawsuits in the wake of company's collapse.
LNG carrier newbuild to use boil-off gas as fuel Gasum and Anthony Veder enter into agreement for ship to built in Germany.
Novel approach to vessel upgrades 'Stretches' ship and brings fuel efficiency benefits.
OOCL announces low sulphur fuel surcharge update For its Asia-Europe service.
Fratelli Cosulich: 'Our business model has shifted over last 40 years' The Italian company shares with Bunkerworld the importance of human capital.
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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