Traffic drops but Seaway plans toll increase The St Lawrence Seaway plans a 2% toll increase for 2016 even though it handled almost 9.5% less traffic by tonnage during 2015 than in 2014. The Seaway is retaining its existing toll incentive programmes and adding a new Gateway Incentive programme for traffic...
Saga confirms Meyer Werft cruise order Saga Cruises (UK) and German shipbuilder Meyer Werft have confirmed a cruise ship order from last September, when they signed a memorandum of agreement. The 55,900 gt vessel will have an overall length of about 234 m and beam of 30.8 m with a scheduled completion date of summer 2019. The...
Record monthly Chinese iron ore imports fail to fire up Capesize market All-time high monthly iron ore imports to China failed to turn Capesize spot rates higher, highlighting the scale of overcapacity in the sector. China imported 96.2M tonnes of iron ore in December, which was 17% more than in the previous month and and...
Sinokor Merchant Marine, Dong-A Tanker access new Korean shipping fund The Korea Maritime Guarantee Insurance Co, South Korea's first shipping guarantee insurance scheme, has just completed its maiden ship financing deal. Local ship owners Sinokor Merchant Marine and Dong-A Tanker have secured KRW30 billion (USD24.8 million) in financing from the KMGIC. Launched in August 2015 as...
HHIC's Subic Bay yard undergoes due diligence The Subic Bay yard of South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC), which has filed to be managed by its main creditor Korea Development Bank (KDB), is now undergoing due diligence to see if its debts can be repaid. The yard executes the majority of HHIC's orders, due to...
Japan shipbuilders association head calls for government support Shipbuilders Association of Japan chairman Shigeru Murayama has urged the country's government to support the shipbuilding industry as he expects 2016 to be a tougher year for shipping. In his New Year's speech, Murayama said Japanese shipbuilders will also invest in energy-saving technologies to...
Dramatic end to Australia's Portland dispute as security guards remove crew Security guards ordered five Australian crew members from the bulk carrier Portland in the early morning on Wednesday (13 January), ending a 60-day sit-in. The guards then escorted new crew onto the vessel, which is now en route to Singapore, where it is to be sold for scrap. The...
Commentary: Lessons (not) learned from El Faro Since July 2014, the IMO has required that when shipowners install on their ship a new voyage data recorder (VDR) - the 'black box' of the maritime sector - that, in addition to a fixed casing...
Lessons (not) learned from El Faro Since July 2014, the IMO has required that when shipowners install on their ship a new voyage data recorder - the 'black box' of the maritime sector - that in addition to a fixed casing attached to the bridge, data must also be recorded in a 'float-free' capsule that can...
Transport and trade integration projects central to Asia's economic future China's transport infrastructure and trade-focused regional development plans, together with an increasing number of trade liberalisation agreements, will support Asia Pacific in remaining the fastest growing and most dynamic region in the world economy in 2016. New analysis from IHS chief Asia Pacific economist, Rajiv Biswas, notes that Asia Pacific...
Dispute arises over Singapore's first ship arrest of 2016 Singapore's first vessel arrest in 2016 took a twist when the vessel's first owner claimed that the vessel was arrested without merit.Jascon 18 was seized on 7 January under the instruction of local law firm Rajah & Tann, according to Supreme Court of Singapore's records. The vessel's first owner, Nigeria-based oil...
Dutch container giant CARU acquires ECB Group and CCA Merger predicted to create a company that generates $32m-$43m in turnover in the Netherlands alone
Singapore to grant more port dues concessions for boxships New reduction to take effect for a year, starting on Friday
No help for panamax as index slides to record low Along with capes and supramaxes, panamax pushes Baltic Dry Index to fresh low
Maersk to appeal Russian antitrust decision on GRIs Move follows decision last month that five lines violated competition law
Real LNG production growth will occur after 2016, predicts Wood Mackenzie Pace of project start-ups, and threat of prolonged outage at Yemen, creates downside risk to LNG cargo supply this year, argues energy consultancy
Danieli leaves Zim in good shape to weather coming year Chief executive confident Israeli line has the right strategy as a global niche carrier
Andreas Sohmen-Pao tapped as chairman of Singapore Maritime Foundation BW Group chairman replaces Michael Chia of Keppel Offshore & Marine, who has been SMF chairman for six years
Patrick box terminals across Australia face 24-hour strikes Union members ramp up industrial action
Product tanker rates buoyed up by gasoline and naphtha trade Middle distillates market helped by cold weather and improved River Rhine barge traffic
China imports record levels of iron ore in 2015 Full-year imports rise by 2.2% to 952.7m tonnes
Shandong Shipping lists on China's over-the-counter equity exchange platform Depressed dry bulk market has eroded the company's profit
Dae Sun Shipbuilding secures Viken order for tanker pair Vessels to to be delivered in 2018
Dryad warns of growing threat by Islamic State to shipping along Libyan coast Three recent raids highlight IS threat especially east of Sirte
Petrobras cuts its five-year investment budget by 25% Brazilian oil producer reduces estimates for oil production
CSX sees flat intermodal volume ahead CSX Transportation forecasts flat intermodal growth in the first quarter, as the loss of international intermodal business to Norfolk Southern Railway is expected to offset domestic volume increases gained from highway conversions and a key customer shifting loads away from its eastern U.S. rail archrival. CSX Chief Sales and Marketing...
Troubled New England trucker no longer in TRNet carrier group Regional less-than-truckload carrier Land Air Express of New England is no longer a member of The Reliance Network, a coast-to-coast alliance of regional LTL trucking companies. The Williston, Vermont-based carrier and the The Reliance Network are parting ways as Land Air Express shrinks its LTL network after being shut down for...
Virginia port container volume up, despite December dip The Port of Virginia's container volume topped 2.5 million 20-foot-equivalent units for the first time as its terminals posted a 6.5 percent increase in TEUs during 2015, despite a decline in December volume. Virginia's container volume for the year 2015 totaled 2,549,270 TEUs, including empty boxes, compared with 2,393,038 TEUs in...
Long Beach free time proposal highlights congestion threat A proposal by the Port of Long Beach to reduce the amount of time allowed for the storage of containers at marine terminals from four days at present to six work shifts has brought into sharp focus the congestion issues that cargo interests face not only in Southern California, but at all major gateways...
New company established to run Yokohama container operations The municipal government of Yokohama in Japan's Kanagawa Prefecture has set up a new company to operate the prefecture's ports in Yokohama and Kawasaki in an integrated manner. The new company will seek to make the operations of the two ports' container terminals more efficient and boost their international competitiveness, the Yokohama...
Port Canaveral lands first container service Seatrade Group's StreamLines, N.V. plans to add a call at Port Canaveral to its weekly Blue Stream container ship service between the Caribbean and Central America and Europe, giving the Florida port its first regular container service. The vessels will call Canaveral on their way from Central America to Europe, and...
NS and CP battle for shareholder support Canadian Pacific and Norfolk Southern railways clashed again over a proposed merger, with the former making another case for consolidation and the latter showing off again how it's boosting efficiency independently by combining operations. CP's release of a white paper detailing synergies to be gained at Chicago via the tie-up of...
'Bloated' inventories blamed for freight shipment decline Stubbornly high inventories, contraction in manufacturing and consumers who spent fuel savings in restaurants and bars rather than on holiday gifts pushed freight volumes down in December, the Cass Freight Index shows. Truck and rail freight volumes measured by the index dropped 4.9 percent from November and 3.7 percent year-over-year. That...
Shipping outsider targets last Brazilian-owned container line A new player in the shipping business is making a move to take a majority stake in Log-In Logistica, leaving the three largest global container lines that were interested in the Brazilian coastal carrier and terminal operator out in the cold. Manubi SA, which is a new player in the iron...
Class action complaint to FMC targets ro-ro lines A class-action complaint filed with the U.S. Federal Maritime Commission seeks damages for alleged shipping act violations by 10 roll-on, roll-off carriers already entangled in criminal and civil price-fixing investigations. Cargo Agents Inc., International Transport Management Corp. and RCL Agencies filed the FMC case in the wake of guilty pleas by...
Elman boosts Noble stake Commodity giant's founder increases his holdings in wake of credit rating downgrades.
Chile files lawsuit over LR Mimosa spill Government lawyers demanding that affiliate of Greece's Empire Navigation cover costs
Economou's stake in DryShips rises George Economou takes more of DryShips through loan conversion; reverse split eyed.
VLCCs sink to less than half of 2015 peak Rates plunge as West Africa help fails to materialise in January; TD3 at $51,000 per day.
DNB Markets places buy rating on Frontline Analysts upgrade tanker owner after stock falls, suggesting profit of over $300m for this year.
Svenning: 15-year-old ships not for scrap Fearnley Consultants managing director says history shows vessels of this age won't be demolished.
US energy exports grow from gases Forecast from government agency sees LNG and LPG as growth play for US energy exports.
Fire hits Strahlmann ship Firefighters tackle blaze in accommodation block of German vessel off UK.
GMP Securities dumps shipping unit Boutique Canadian bank likely not last to feel the sting of protracted slump in shipping equities.
Reinsurance rates drop Paul Jennings hails advantageous renewal that produces improved terms for all ships.
NITC wants 25 tankers National shipowner plots deals to buy or build ships to boost its capacity by 6m tonnes.
SBM clinches Falklands job Dutch FPSO owner to carry out preliminary work for Premier Oil's new venture off UK-run islands.
Prosafe rejigs $1.6bn debt Cyprus floatel company has option to skip two $65m payments after bank talks.
Ro-pax breaks moorings TT-Line's Spirit of Tasmania hits car ramp at Melbourne in high winds.
Cosco Corp takes yard Singapore-listed group buys repairer Cosco Xiamen from two sister companies.
Mixed bag of shipping stocks lead slump Though tankers pull back from top decliners' list, New York-listed shipping sees another plunge.
Fire strikes cruiseship at shipyard MHI Blaze breaks out on Aida Cruises newbuilding at Nagasaki yard.
Drillships delayed at DSME Korean shipbuilder and client agree to push back two units by up to three years.
SMM calls off Istanbul event Tense political situation and market downturn lead to cancellation of February conference.
Ship orders plunge 43% Clarksons figures show toll on shipyards' orderbooks in 2015 as shipping slump stretches on.
Wartsila goes greener Finnish group unveils design for zero-emissions battery-powered ferry.
Star Bulk makes its case Financial update reveals lower yard payments and reduced operating costs, with Deutsche Bank seeing figures as "modest positive."
Shipyard behind Jascon 18 arrest Unnamed Singapore shipyard said to be party behind arrest of newbuilding vessel.
Teekay expects boost from US crude exports New York-listed tanker giant says end of ban will increase demand in the long term.
Dorian director resigns The director joined Dorian as part of investment from Chinese firm and Jeb Bush-backed fund.
Dryad warns of more attacks IS likely to continue to carry out attacks along Libya coast to further its ambitions.
Singapore firms call for more help Local business group wants review of rising costs of doing business in Singapore.
Bunker fuel availability at Suez might return next week Tight Suez market could see relief next week.
Singapore bunker sales figures show impact of new sulfur limits Sales of ECA-compliant LSMGO up almost threefold, but remains small share of total sales.
Singapore clocks up new bunker sales record Preliminary figures for 2015 show total sales up 6.5% from 2014 at 45.2 million mt.
Australia: Industrial action hits ports Further stoppages planned.
Tanker firm: '2015 was a very good year' 'I would note that a low oil price is good for NAT,' says CEO.
TOTE completes first Jacksonville LNG bunkering World's first LNG powered containership bunkered while undergoing cargo operations.
Wartsila cuts ferry emissions Vessels developed in line with Norway clean air rules.
IMO launches vessel energy efficiency training course Online course is free of charge.
Ship arrest without merit, says Sea Trucks Dispute between a group subsidiary company and shipyard, it says.
Bad weather disrupts bunkering at Turkey's Istanbul port: sources Situation expected to ease on Wednesday, say sources.
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