Cabinet approves transfer of land from Farakka Barrage Project to Inland Waterways Authority of India for construction of a new navigational lock parallel to the existing navigational lock at Farakka
CMA CGM's reshuffled CIMEX 2E service to cover Shanghai-Chennai in 13 days
Maritime sector must absorb balance sheet implications of new lease accounting standard, says analyst
Ministry of Shipping's initiatives taken & opportunities unveiled in 2015
MOL announces launch of new China/West Coast India Service (CIS)
Steel imports decline for second month in Dec.
Tea exports to Pakistan rise by 42 pc in April-Nov. 2015-16
Cement vessel calls at Cochin Port
JN Port allots plots to FSSAI & Drug Controller
Kandla Port finally has a permanent Chairman
Throughput at Major Ports up by 13.45 mt in first three quarters of 2015-16
Cochin Port Trust & CONCOR sign MoU for weekly container train service
Govt to join four export promotion councils to hold expo
INR suffers biggest fall against dollar since Aug., slumps by 95 paise
China's copper imports near record in 2015
China's exports in yuan terms up by 2.3 pc in Dec.
South America's piracy potential There have been 10 counts of piracy in the Gulf of Mexico and Pacific coastline of South America in the past 12 months. Seven of these instances involved the ships' stores or equipment being pilfered by thieves while at anchor. In each case a small group made their way on board...
HHIC and KDB agree to joint management South Korean shipbuilder Hanjin Heavy Industries & Construction (HHIC), announced on 15 January that it has received agreement from its main creditor Korea Development Bank (KDB) to begin joint management and autonomous debt restructuring. On 7 January 2016, HHIC said it was applying for KDB to manage...
KLC parent SM Group is sole bidder for SPP Shipbuilding Korea Line Corporation parent Samla Midas (SM) Group turned out to be the only bidder for SPP Shipbuilding when bids closed on 14 January 2016.
Thoresen Shipping Singapore working on sand contract Thoresen Shipping Singapore, the shipping arm of Thoresen Thai Agencies, is negotiating a contract of affreightment (COA) to transport sand for a Singapore-based construction firm, sources told IHS Fairplay. The company is said to be discussing a COA with Santarli Construction to ship 80 cargoes...
Seadrill and DSME agree to postpone deliveries of two drillships Offshore drilling company Seadrill said that it had reached an agreement with Daewoo Shipbuilding & Marine Engineering (DSME), the South Korean shipbuilder, to defer the delivery of two ultra-deepwater drillships, the West Aquila and West Libra, until 2Q18 and 1Q19 respectively from 2Q16 in both cases. Seadrill, a London-based company...
Robust market sees older tankers fetching higher prices Suezmax tankers more than 20-years old are being sold at prices almost 60% higher than last year, buoyed by solid market demand in the oil tanker business. According to data from VesselsValue, Suezmax tankers older than 20 years have risen in value by 57% year-on-year ranging...
PSA global throughput falls by 2% PSA said throughput at its global terminals fell by 2% in 2015 as a result of tepid growth in global trade and structural changes in the industry. The global terminal operator handled 64.1 million teu for the year ending 31 December 2015 with flagship PSA Singapore Terminals contributing 30.6 million teu....
Slumping crude prices take toll on Singaporean offshore sector The price of Brent crude fell to under USD30/barrel for the first time in 12 years on 14 January, further impairing the embattled Singaporean offshore sector. The sector has already been backpedalling for most of the time since crude prices slumped in the second half of 2014. With no recovery in...
Master's ship recycling sentence 'a warning shot' to industry, says lawyer The first suspension of a European ship master for taking a ship from Europe for demolition in south India reveals the legal risk taken by crews that participate in such operations for European...
China Merchants acquires major stake in Dalian port China Merchants said it would acquire a 21.05% stake in Dalian Port Company (PDA), making it the second largest shareholder in the northeast China-based port operator, as the country continues to restructure its state-owned sector. China Merchants Holdings (International) (CMHI) will purchase 1.2 billion shares of the port operator for USD557...
Pilots place draught restrictions on Lower Mississippi Foreign vessels destined for terminals between Baton Rouge and New Orleans may have to divert to other ports after bar pilots reduced draughts for ships entering the Mississippi River from the US Gulf of Mexico. High water making its way down the river has forced the...
Ballast water tonnage recount shows convention still not in force Recent and in-depth recount of the world tonnage by IMO members shows the 47 signatories have failed to achieve the required 35% of the global fleet
DryShips puts reverse stock split proposal to shareholders Owner asks for 'maximum flexibility' and affirms intention to retain Nasdaq listing
Port of Rotterdam records 4.9% increase in 2015 throughput Port attributes its growth in tonnages to higher volumes of crude oil and oil products
Arcadia suezmax fetches over $19m from Indonesian buyer Aegean Legend deal underlines strong secondhand tanker market
Capesize rates drop 28% on week on lack of fresh cargoes Index slumps by 42% to below 200 points for the first time
Don't expect any deliveries slippage this year, warns Avance Gas New VLGCs are expected to flood into global fleet on time this year
Amazon expands logistics reach to ocean shipping Online retailer is keen to provide third-party logistics services to Chinese companies
Euronav to investors: share price does not reflect tanker market reality Tanker giant sees sustained 'supportive' conditions and a strong start for 2016
Freight rates squeezed as lines prioritise utilisation over prices Some stability over the past week in run-up to Chinese new year, but long-term trend looks downwards
Seadrill defers drillships delivery from DSME Move delays final yard instalment payment of more than $800m
ICTSI to open $100m Congo terminal August 2016 Manila-based ICTSI ready to undertake second phase of Matadi project
Turkish bulker operator fined $1m in Baltimore 'magic pipe' case Violation of Act to Prevent Pollution from Ships occurred in 2014
HHIC creditors agree on debt restructuring KDB and other lenders will delay HHIC's debt repayment
Cargo traffic at India's major ports rises 3.2% Murmugao recorded highest growth among 12 major ports
International Shipbuilding sells two bulkers and minority stake in four tankers Sale to help cut outstanding debt to $124m by end-January
Gulftainer seals first cargo deal at Port Canaveral Inaugural US venture will provide a refrigerated and dry container service to and from the Canaveral Cargo Terminal
Tanker Investments completes $60m share buyback Tanker Investments now holds 13% of its own shares, amid trend in tanker share repurchase programmes
Mixed fortunes for top US west coast container ports in 2015 Long Beach container volumes rebound in 2015 as LA slips back and Oakland stays flat
Diana Shipping fixes panamax with Transgrain Shipping Charter expected to commence on Friday, January 15 with a gross charter rate of $4,600 per day
2016 begins with slower retail sales, high inventories High inventories? Don't blame supply chain disruptions or fear of stock-outs. Blame the weather. The warmest December on record in the contiguous U.S. apparently suppressed retail sales of typical winter items - heavy coats, gloves, scarves, snow shovels - in the country's northern tier states, which probably means big discounts on...
Carriers consider rerouting vessels from Santos terminal closed by fire After a chemical fire closed the biggest terminal at South America's largest container gateway, container lines are considering rerouting cargo away from the facility of Tecon Santos to other terminals at the Port of Santos and other Brazilian ports. Santos terminals Embraport, also on the left bank but some 10 miles...
Eastbound trans-Pacific spot rates sag Spot freight rates in the eastbound Pacific drifted lower this week, though they remained in a narrow range that reflects a Jan. 1 general rate increase by carriers in the trade. The spot rate for shipping a 40-foot container from Shanghai to the West Coast fell 5 percent, to $1,417, this...
Myanmar Thilawa port to expand Japan's Toyo Construction Co. and JFE Engineering Corp. have won a contract to build a new container terminal at the Port of Thilawa near Yangon, Myanmar, to expand one of the country's key logistics hubs. The new terminal is needed to handle larger ships and meet growing demand and will have...
Shippers give DOT guidance on port productivity metrics WASHINGTON - More than 100 shippers groups urged the U.S. Department of Transportation to drill down on port productivity metrics via a new initiative aimed at helping Uncle Sam better monitor marine terminal congestion. The National Retail Federation-led effort in a letter asked DOT Secretary Anthony Foxx to track port productivity...
Uncover the hidden costs of sourcing from inland China As costs continue to rise in Eastern China, namely, Zhejiang and Jiangsu provinces, the procurement manager may feel compelled to comparison-shop from alternate vendors in other parts of China or Southeast Asia. However, it is often a mistake to simply compare the price quote based on the per unit ex-factory...
Los Angeles volume drops on seasonal lull, loss of services Container traffic at the Port of Los Angeles in December declined 4.9 percent from the same month the previous year, reflecting the normal seasonal lull and the loss of a handful of services to the neighboring Port of Long Beach. Despite the lull that occurs late in the year after the...
Rotterdam container traffic shrinks, despite Asia volume uptick Rotterdam's container volume shrank by 0.5 percent year-over-year in 2015 but total throughput reached a record on a sharp rise in crude oil shipments. Europe's largest container hub handled 12.23 million 20-foot equivalent units last year, down from 12.98 million TEUs in 2014, even as traffic to key Asian destinations grew...
Deutsche Bahn faces government opposition to logistics spin off Deutsche Bahn is said to be facing growing opposition from the German government to its plan to partially privatize its DB Schenker Logistics unit as part of a broad restructuring to finance growth and cut debt. The state-owned railway is due to seek the go-ahead for the sale of shares in...
Slowdown still hurting India's largest port Despite oft-repeated claims by DP World Subcontinent that its flagship terminal at Jawaharlal Nehru Port Trust is operating normally and truck turn times are no more than the normal average, logistics providers in India's largest container harbor said the roadway to the private facility continues to remain clogged and gating...
Breakbulk carriers waiting for rebound in weak demand Like a mirror image of the ocean container shipping industry, the shipping lines that operate the multipurpose ships that carry breakbulk and project cargoes are suffering from overcapacity, lack of global demand and low freight rates. And like the container fleet, multipurpose ships are getting ever bigger. There are a few...
Gains in reliability and speeds brighten US intermodal outlook Two years since the devastating 2013-14 winter wreaked havoc on U.S. intermodal rail networks, North America's largest railroads are on the cusp of restoring reliability and speeds to the level shippers once took for granted. Slowing intermodal volume growth and declining carload volume, major infrastructure investment and a crackdown on free...
Spot rates fall 20 percent as Asia-Europe GRIs fail to move market The market completely ignored the Jan. 15 general rate increases levied by carriers on the Asia-Europe trades, with spot rates plunging 21 percent this week, according the latest reading of the Shanghai Containerized Freight Index.This is supposed to be the traditional busy period before Chinese New Year when increased demand...
PSA global throughput falls 2 percent on weak trade growth PSA's Tanjong Pagar Terminal at the Singapore port.PSA International said throughput at its global terminals fell by 2 percent in 2015 as a result of tepid growth in global trade and structural changes in the industry.The global terminal operator handled 64.1 million TEUs for the year ending Dec. 31 with...
Spot rates fall 20 percent as Asia-Europe GRIs fail to move market The market completely ignored the Jan. 15 general rate increases levied by carriers on the Asia-Europe trades, with spot rates plunging 21 percent this week, according the latest reading of the Shanghai Containerised Freight Index.This is supposed to be the traditional busy period before Chinese New Year when increased demand...
China Merchants takes major stake in Dalian port operator China Merchants will acquire a 21.05 percent stake in Dalian Port Co., making it the second-largest shareholder of the northeast China port operator, as the country continues to restructure its state-owned sector.China Merchants Holdings (International) will purchase 1.2 billion shares of the port operator for $557 million ($0.47 per share),...
CP-NS would have to convince US regulators merger wouldn't trigger others LOMBARD, Illinois - Canadian Pacific and Norfolk Southern railway would have to convince U.S. rail regulators that a potential merger won't set off a wave of Class I consolidation in order to get a greenlight for a proposed merger, U.S. Surface Transportation Board Chairman Daniel Elliott said Thursday. That's a high...
Fire cripples South America's busiest container port Fire at South America's busiest container gateway of the Port of Santos has crippled operations at the port for the second time in less than a year, closing a marine terminal that handles about a third of the port's container volume, according to a Reuters report. The fire, which is said...
South Korea bunker fuel bucks price fall in fuel oil South Korean 380 CST delivered bunker fuel prices were seen rising over two consecutive days this week.
Arte Bunkering expands with new office and hires Opens office in Florida, takes on three traders in Hamburg.
Bunker Holding 'as healthy as ever', says Group CEO Comments on layoffs and market talk about overdue payments.
Buyers wary of traders with OW/ING style lender arrangements Many prefer to deal with physical suppliers, but one supplier/trader explains why it is 'very different' from OW.
Nuclear reactor for marine use seen ready in China by 2020 Prototype ready for mass production by 2020, says China General Nuclear Power Corp.
Antwerp port sees increase in 'green' vessel visits 671 low emission vessel visits over Jan-Sep 2015.
LNG-powered tankers get classified ABS looks to LNG-ready bulk carriers next.
Japanese weather monitoring system to help vessels cut costs Vessels able to reduce fuel consumption by using optimum routes.
Russian Rostov-on-Don port's 2015 bunkering volume down 2.6% on year Vessel arrivals, cargo traffic volumes fall.
Oil futures rally despite rising US petroleum stocks, looming Iranian barrels Short-covering ahead of the ICE February Brent contract expiration provided additional support.
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