Competing together Oman: railway construction to start in 2018 New Channel terminal ready at Dunkirk Railfreight recovering in France Goodman acquires 100% stake in its Brazil firm Pactl and DPC receive CEIV pharma certification Port of Seattle names COO Wemed for the Med German wagon manufacturer expanding in China Cronus integrating Cardiff into Irish Sea schedule Donna Dunnam joins marine consultancy Largest horse transport on single flight in Europe New exhibit handling contractor in Italy CKYHE reorganising service network Americold names SVP regional business development Kick-off time for new RJ service
Brazil's Vale tightens Chinese bulk shipping ties Brazilian iron-ore giant Vale has inked a landmark 27-year contract of affreightment (COA) with China COSCO Shipping Corp (COSCOCS) for the transport of 16 million tonnes of iron ore per year. The COA will begin in the first half of 2018, with cargoes...
PSA posts profit fall for 2015 Singapore-headquartered port operator PSA International (PSA) posted a lower full-year profit for 2015 due to the softening of global trade and demand. Net profit for the year ending on 31 December 2015 was recorded at SGD1.27 billion (USD 933 million), down 9.5% compared with SGD1.4 billion in...
Rates row sees Indian port act to scrap terminal contract The board of trustees of India's state-owned VO Chidambaranar Port Trust, which runs the port at Tuticorin on the country's eastern coast, has 'in-principle' approved the cancellation of a container terminal contract with a joint venture majority owned by Singapore's...
Shipowners warned over crew fitness fears The Loss prevention officer of a leading P&I Club has warned owners they need to take a proactive stance on crew fitness as research found that the maritime sector faced a major issue...
Industry dismisses Indian cabotage rule change as unworkable India's lifting of cabotage restrictions to allow foreign-flagged container ships to carry export-import (EXIM) loaded and empty containers along the country's coast has been dismissed as unworkable. The rule change is linked to government plans to set up transhipment ports and...
Navig8 Product Tankers and CMB Financial Leasing in ship sale and leaseback deal Navig8 Product Tankers, the London based product tanker company whose shares are traded on the OTC list in Oslo, has signed a sale and leaseback deal with CMB Financial Leasing (CMBFL) for two of the four 74,000 dwt LR1 product tankers it has...
Bunker stakeholders divided on mass flow meters With less than a year to go before mass flow meters become mandatory in Singapore's bunkering scene, industry stakeholders remain in disagreement on the extent to which the devices ensure that the right quantity of fuel is delivered to ship operators. During the International Bunker...
BW Group to take advantage of distressed dry bulk assets Singapore-based BW Group is re-entering the dry bulk shipping sector by taking advantage of distressed assets, the company has revealed to IHS Fairplay. Since the Baltic Dry Index deteriorated to an all-time low, vessel values have fallen in tandem. On 16 March BW announced that...
Hyundai Merchant Marine to seal deal with main creditor bank Beleaguered Hyundai Merchant Marine (HMM) has announced that it will go ahead with a voluntary agreement with its main creditor Korea Development Bank (KDB) on 29 March. The agreement, which will include extending the maturity of HMM's principal debt amount and related interest, and...
Breakbulk reaps the benefits of booming China-Africa trade China's heavy investment in the fast-emerging economies of Africa is stimulating rising demand for Africa-bound shipping services, carriers at Breakbulk China in Shanghai told IHS Fairplay.Supported by the One Belt One Road policy, a large number of Chinese-led infrastructure construction...
Zero freight being reported on grim Asia-Europe trade Forwarders are reporting a growing number of enquiries for zero freight rates on container shipments from Asia to North Europe, even as spot rates on the trade and on Asia-Mediterranean this week matched the lowest levels ever recorded. Asia-Europe rates hit USD205 per teu, a level it...
Kribi to replace 'the worst port in Africa' Construction work is set to begin on the second phase the only deepwater port in central Africa at Kribi in Cameroon after a second round of financing was arranged with the Exim Bank of China. The second phase of the project will cost USD675.5 million and consist of...
Increasing number of idle offshore assets causes concern for insurance companies Insurers and underwriters are concerned over the rising numbers of laid-up offshore assets and the risk coverage posed by them. "Now we have the potential problem of offshore assets being laid up for a longer period and not being looked after properly," said Nick White, director of claims disputes and litigation...
CMA CGM and NileDutch ramp up West Coast Africa coverage Growing customer demand in West Africa will see global carrier CMA CGM and Africa specialist NileDutch expanding coverage of the continent, growing their fleets and building on ocean services and inland transport corridors.The Rotterdam-based NileDutch has upgraded its FEWA...
VLGC spot rate stabilises Spot rate should hold at these levels for coming days until Asian LPG price rises
Running out of cash, running out of time Scorpio Bulkers offered a lesson in survival skills as more dry cargo companies run afoul of debt obligations
Maritime industry flocks to Connecticut Important discussions are to come at the CMA's 31st annual shipping conference and exhibition ahead of Paddy Rodgers' promotion to commodore
China Cosco signs 27-year COA with Vale Orders of 10 underlying valemaxes might soon be announced
Maersk trade report highlights South Africa's export opportunities Outlook for South Africa's box trade may be bleak, but if it can capitalise on the country's commodities it could be brighter
Safety fears grow over China's chemical tanker building drive Chemtankers are being built at inexperienced Chinese shipyards as owners look to cut costs
APL looks forward to bright future under new ownership After losing ground for several years, the Singapore line will now have the chance to expand once CMA CGM acquires control
European Shippers' Council says GRI moves insufficient Calls on Commissioner Verstager to abolish price arrangements
Damen Shipyards Gorinchem banned from World Bank tenders for 18 months Debarment period reduced from 36 months to 18 as a result of Damen's immediate co-operation
Wärtsilä and CSSC to form another joint venture in China New company expected to start operations in 2017
Mounting resistance Canadian shippers add their concerns to those voiced in the US as VGM deadline looms
PSA International posts 9.5% drop in 2015 profit Port operator says container throughput fell 2% to 64.1m teu in 2015
CMA CGM upgrades Africa services French line increases port calls and vessels sizes, and launches intra-Med service
Genting Hong Kong 2015 profit surges on one-off accounting gain Results boosted by reclassification of an associate company as an available for sale investment
US Coast Guard removes anti-terrorism restrictions on ships from Cuba Vessels coming to US are no longer required to employ additional security measures while in Cuban ports
Creditors move to sell Mercator vessel by auction in India Decision comes after arrest of vessel at an Indian port
Noble Group incorporates shipowning subsidiary Subsidiary to be 65% owned by another group unit, Noble Chartering Limited
Indian government eases restrictions on coastal shipping Move allows foreign flagged container vessels to trade in coastal areas
Monarch exits Scorpio Bulkers with last jab US investment firm, and combative shareholder, says 'highly dilutive' equity raise behind decision to ditch stake.
Farstad hires advisors amid tough market Despite $195m liquidity reserve, three banks appointed to help figure out how to strengthen finances.
Clarksons shares shoot up after selldown Shipbroker's stock enjoys best three-day climb in more than a decade after ex-Platou shareholders offloaded stock.
MMA lines up $38m of ship sales Australian offshore owner looking to move out vessels in depressed markets.
Siem in "better than lay-up" W2W contract Oslo-listed owner strikes second deal today and sends two vessels to provide walk-to-work services.
Viking: no more layups for now Swedish owner prepared to keep ships idle until market shows significant improvement.
Davie: shipbuilding plan an "embarrassment" Canadian yard's boss says $28bn national ship order drive is 'exorbitantly' priced.
Charterers take upper hand to quell VLCC fire Rates on the slide as oil companies take their turn in the driver's seat.
Global Offshore wins PSV contract in Bulgaria Indian owner sending Olympus from North Sea to Black Sea for well work.
SALT well preserved after $63m fundraiser Follow-on offering extends runway and could be the last call on investors in downturn.
Wartsila teams up with CSSC research unit Finnish ship systems group signs collaboration agreement with Shanghai Merchant Ship Design.
Western India to finally pay workers Indian shiprepairer will get back to work after settling wages dispute.
Hyundai Merchant share-split approved Korean owner's shareholders give green light to capital reduction to maintain stock listing.
CMA CGM launches dedicated Med run French line using four boxships for its first exclusive southern European service.
Shell and Saudi Aramco split a tanker spur Plan to break up 20-year relationship will put the biggest US refinery in Saudi hands.
Genting posts $2.1bn profit for 2015 Malaysian cruiseship group boosted by re-classification of NCL stake.
Siem sending AHTS from Europe to Australia Siem Topaz wins 18-month deal with Woodside from May.
Navig8 in LR1 deal with CMB Financial Leasing Oslo-listed product tanker owner seals financing with China Merchant Bank's leasing arm.
Shell and Saudi Aramco plan to split Motiva assets Plan to break up 20-year relationship will put the biggest US refinery in Saudi hands.
US Gulf Coast HSFO-Brent crack spread weakest since 2014 Fuel oil cracks have weakened in Europe and Singapore, and have bled into local USGC market fundamentals.
Gibraltar invites proposals for new storage, bunkering facility Plans come at a time when expansion of Algeciras marine fuel storage is uncertain.
Work underway on emulsion fuel unit at Cepsa refinery: Quadrise Trials with Maersk Line expected to begin in May.
Bunker fuel market faces challenges ahead of tighter global sulfur cap: IBIA Level of scrubbing technology uptake can leave refiners uncertain about need for investments to meet distillate demand.
Houston IFO 380 bunker fuel price at highest level in eleven weeks The price was up $8/mt day on day, and was the highest level for IFO 380 CST in Houston since December 3.
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