Low-sulphur fuel not cutting it in California California regulators are warning vessel operators that buying ultra-low sulphur fuel oil (ULSFO) alone may not be enough to comply with the state's new fuel requirements. In an advisory issued on 28 October, the California Air Resources Board (CARB) said it is finding potential violations of its
Buoyant Euronav decides not to take additional VLCCs Antwerp-based tanker operator Euronav returned another buoyant set of results in the third quarter of 2015 (3Q15) but announced that it would not be taking up an option it has on four more VLCCs. Euronav added USD72.2 million in 3Q15 to the USD173.3 million profit it amassed in the first half of
Siem Offshore reports deep losses on weak markets Siem Offshore, the listed Norwegian offshore services vessel (OSV) owner, has reported a deep loss for the third quarter of 2015 (3Q15) and the first nine months of the year due to softer rates and decreased capacity utilisation. Group net loss in 3Q15 amounted to USD9.5 million compared with a
Hanjin/HMM merger 'hard to materialise' South Korea's biggest shipping company, Hanjin Shipping, has confirmed that the Seoul government had asked it to consider a merger with Hyundai Merchant Marine (HMM). But Hanjin Shipping told IHS Maritime that it believes such a merger is "hard to materialise". It would not elaborate further but
Samsung HI cancels plan for yard in Southeast Asia South Korean shipbuilder Samsung Heavy Industries (SHI) has dropped plans to build a yard in Southeast Asia. In a filing to the Korea Exchange on 29 October, SHI director Oh Byung-Chan said, "We were examining the establishment of a yard in Southeast Asia. But the recent situation in the market and
LNG as marine fuel 'a game changer', says Bernhard Schulte LNG is a marine fuel of the future and it cannot be ignored, a senior ship manager has told the annual Gastech Singapore conference. "The move to LNG as a fuel is a game changer which cannot be ignored," said Angus Campbell, managing director of Bernhard Schulte Shipmanagement UK (BSM UK).
American Shipping upbeat on outlook American Shipping Company (AMSC), the Jones Act tanker owner that is listed in Oslo, remains upbeat about the future after reporting fairly stable third quarter 2015 (3Q15) and nine-month results. Group net profit fell to USD3.3 million in 3Q15 from USD4.2 million in the same period last year,
Korea Line wins another coal deal from GS Donghae Korea Line Corporation (KLC) has secured a 15-year contract to ship steam coal for compatriot utility company GS Donghae Electric Power, it announced on 29 October. The contract is worth KRW71.4 billion (USD62.9 million) and requires KLC to transport coal from Australia, Indonesia, and Russia to
Singapore envisions self-regulated LNG bunkering industry Singapore foresees its LNG bunkering hub will be a self-regulated industry, with less intervention from state policy. Speaking at the Gastech 2015 conference in Singapore, Parry Oei, director of port services division from the Maritime Port Authority of Singapore (MPA), told delegates that the
GTT, CMA CGM, DNV GL showcase LNG-fuelled PERFECt design vessel A joint technical and feasibility study done by GTT, CMA CGM (and its subsidiary CMA Ships), and DNV GL on the use of LNG on a container ship resulted in a concept vessel named as the Piston Engine Room Free Efficient Containership (PERFECt). The PERFECt design vessel is LNG-fuelled, powered by a
Obituary: Dr Andrew G Spyrou Longstanding technical director for the Onassis Group passes away
Siem Offshore posts third straight loss as utilisation falls Offshore downturn and Petrobras troubles affect fleet utilisation
Contship and Conmar explore alliance Link-up between German and Greek feeder container firms hailed as 'milestone'
Scorpio Bulkers to answer questions on cash flow 'Transformational' dry bulk operator expected to discuss fleet integration, chartering strategy and cash flow generation, or lack thereof, in upcoming earnings call
Panagopulos-led Arista boosts Garin's SNCM bid Four bidders due at crucial hearing in France next week
Tough market ahead for Polarcus despite strong third quarter Oil company spending cuts hit marine geophysical market
CSCL to acquire eleven 21,000 teu boxships Vessels will be delivered under a bareboat charter
TAL sees double-digit drop in third quarter profits Unusually low peak season demand has led to a decrease in utilisation and investment opportunities, says US box lessor
American Shipping Company lines up for strong 2016 Tanker owner close to selling off 19.6% stake in Philly Tankers
Carnival Cruise Line commits two ships to Chinese market Ships will be based in China all year round
US freight projects get larger share of TIGER grants U.S. infrastructure projects focused on improving freight movement got more backing from the federal government in the latest round of a popular grant program. Roughly 44 percent of the $500 million in grants awarded through the Transportation Investment Generating Economic Recovery program, commonly know as TIGER, went to freight projects, compared...
What shippers need to know about new container weight rules Too few shippers are ready to meet new global regulations requiring the weighing of containers before they are allowed to be loaded onto a ship, said Chris Welsh, secretary general of the Global Shippers' Forum, the largest global shipper group. Welsh spoke with JOC.com Executive Editor Mark Szakonyi in late...
Hub profit rebounds on intermodal volume gains, better rail service Hub Group profit rebounded in the third quarter after a management shake-up and intermodal volume declines, partly thanks to freight volume, both intermodal and truck brokerage and incremental rail service improvements. Net income at the Oak Brook, Illinois-based firm rocketed 340 percent year-over-year to $19.8 million in the quarter, as revenue...
Oakland port: Congestion, long truck lines behind us The Oakland Port Authority said Thursday a longshore labor shortage that generated congestion and long truck lines at marine terminals is over and operations are returning to normal. The Northern California port is now concentrating on systemic bottlenecks that continue to hamper cargo-handling. "Nothing is more important than this. We're making...
ODFL makes gains, more slowly; Saia regroups Old Dominion Freight Line increased revenue and profit in the third quarter, but it did so at a slower pace as the less-than-truckload carrier adapted to a "softening environment." The fourth-largest U.S. less-than-truckload carrier increased revenue 4.8 percent year-over-year to $779.5 million in the third quarter, while net profit rose 8.3...
Slide show: Fastest-growing global transport service providers Five companies on this year's list of Top 50 Global Transportation Service Providers achieved double-digit year-over-year revenue growth for 2014. Total year-over-year revenue growth for the Top 50 companies on the list, which was compiled by SJ Consulting Group, was just 2.0 percent. Here's a look at the fastest-growing companies...
Kirby faces poor outlook for crude barges Tank barge owner says production cutbacks, project hurdles keeping lid on crude barge market.
Signs of rebound after VLCC slump Average time-charter rate less than half of October peak but analysts expect a rise.
GasLog Partners points to strength ahead LNG carrier owner lifts payout to shareholders by 10% as it doubles quarterly profit.
Cracked bulker to be scuttled Mexican authorities to begin lightering fuel from grounded Los Llanitos off Punta Graham.
Barge rates hit Kirby's third-quarter profit Lower crude production causes US owner to voice uncertain outlook for tank barge demand.
Hapag-Lloyd stays silent German line says it cannot comment on report that it could lower IPO price range.
SEB finance chief dies Swedish bank's head of shipping in London, Scott Lewallen, killed in climbing accident.
Hornbeck reveals 'deficiencies' at yards Owner could take one builder to dispute resolution, and another faces financial troubles.
CSCL sees red in Q3 Chinese owner posts $157.3m loss on the back of smaller revenue to 30 September.
DSME secures vital $3.7bn bail-out Korea Development Bank agrees to pump in cash to rescue shipyard, with privatisation again on the agenda; up to 10,000 jobs to go.
Expansion still on Euronav agenda Chief executive explains tanker owner remains open to the right deal despite Metrostar options lapsing.
P&O sharpens up UK operator tightens checks after major ferry fire caused by valve that was not tested for 23 years.
One more for ACL US owner orders another coastal cruiseship from Chesapeake Shipbuilding.
Rodgers: tankers passed test in Q3 Euronav chief notes "quite stunning" results as owner logs highest third quarter profit since 2008.
Sewol verdict upheld South Korea's highest court jails ferry boss Kim Han-sik for seven years over sinking.
Euronav: the next year looks strong for crude Tanker giant stays positive on market following best third quarter since 2008.
Euronav lets four VLCC options lapse UPDATE: Big-spending owner decides against $392m Metrostar quartet given price movements.
Euronav: next year looks strong Tanker giant stays positive on market following best third quarter since 2008.
AMSC stronger in third Jones Act tanker player sees profit rise as foreign exchange losses fall.
NYK takes control Japanese owner pledges further growth in Vietnam after buying VOSA out of agency JV.
Siem Offshore plunges to loss Kristian Siem-controlled owner's revenue slashed in dire Q3 market as anchor-handler heads to lay-up.
Euronav lets VL options lapse Big-spending owner decides against $392m Metrostar quartet.
HSS exits Irish Sea End of an era as last of Stena Line's iconic 40 knot catamarans heads for new life in Turkish waters.
Flinterstar HFO has been removed Dutch shipowner says that focus will now be on removing gasoil from general cargo vessel.
PACD ditches drillship newbuilding Idan Offer-controlled company is second outfit to walk away from rig newbuilding in as many days.
Maersk lays-up Triple E Unemployed boxship capacity past the 1mteu mark to its highest level since the start of the financial crisis.
Hornbeck profit falls below expectations US offshore vessel owner's day rates and utilisation fall as it forecasts 30 OSVs idled.
TOTE to delay ship's LNG conversion Following the El Faro tragedy.
Wartsila JV building dual-fuel engine factory in China Factory will be capable of producing 180 engines annually.
Simply improving compliance An elegant approach to enforcing the global sulphur cap.
Botlek refinery to get upgrade Under $1 billion investment plan.
Tote Maritime cements commitment to LNG 'There is no other source of fuel that is environmentally friendly'.
Weaker profits for Kirby Inland transport company reports 'modest pressure' on contract pricing.
Fuel oil inventories down by 2.7% But stocks still well above year ago levels. Consultancy expects global fuel oil output to rise.
Maersk idles Triple-E class vessel China Containerised Freight Index has fallen to its lowest level since it was first published in 1998.
No let-up in EU's drive to reduce ship emissions 'There is a real bottom-up demand for action.'
Dutch wreck is free of heavy fuel oil Focus now switches to removing marine gasoil
Gibraltar signs LNG power plant deal Lays groundwork for future LNG bunkering plans.
Maersk idles Tripple-E class vessel China Containerised Freight Index has fallen to its lowest level since it was first published in 1998.
WFS: Softer earnings to persist Low oil prices mean revenue generated by marine fuel sales dipped 36% in Q3.
CNOOC's LNG facility concept wins class approval Facility to be used for LNG bunkering, storage, and regasification purposes.
Far East Russia: Bonded bunkering 'only in designated areas' Ministry of Transport of the Russian Federation issues order on topic.
Investment in LNG bunker tanker 'next step' for Singapore LNG bunker tanker of between 6,000 to 10,000 m3 recommended, says TGE Marine Gas Engineering spokesman.
Multipurpose LNG facility concept wins class approval Facility to be used for LNG bunkering, storage, and regasification purposes.
Far East Russia: Possible change in bunker market dynamics Due to an order issued by Ministry of Transport of the Russian Federation.
Crude rises as US refiners cut operating rates US-wide crude stockpiles rose to 480 million barrels in the week ended October 23.
Q3 profits up for WFS Rise from $214.6 million in Q3 2014 to $226.7 million during July, August and September of this year.
New LNG containment system moves towards approval Product has a range of applications including LNG transportation and LNG marine fuel tanks.
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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