Skytech Group to bring RescueSim Incident Command Simulators to China Official distributor agreement signed. RescueSim Incident Command Simulators to prepare first responders in China for any thinkable incident. Beijing, January 20th 2016 - The Skytech Group announces it has signed an agreement with simulator supplier VSTEP, making Skytech an official distributor for the RescueSim Incident Command Simulator in the Chinese...
RWI/ISL see box handling go up Containerised cargo flows appear to gain more traction again, with the latest monthly volume index by German research institutes RWI and ISL showing a notable increase. Their global container handling index published today rose to 118.8 points for December, up from 118.0 for November. The economists said that the latest...
Economic woes to test China's latest Five Year Plan China is about to begin its latest Five Year Plan, and while it is easy to dismiss the planned approach as a Soviet-style relic of the past, the next few years will be critical to a country undergoing a chaotic transition from an export and industry focus to a consumption...
India offers troubled shipbuilders access to state funding The Indian government has declared that the domestic shipbuilding industry will now be classified as an "infrastructure sector" which means shipbuilders can gain access to much-needed funding. A statement by the government on 20 January said Indian shipbuilders will be included under the so-called Harmonized List of Infrastructure sectors, which is...
DFDS nonplussed over disruption by ex-MyFerryLink seafarers Danish ferry operator DFDS said today that it did not understand why French seafarers had disrupted its Dover-Calais ferry service on 20 January when it was still recruiting crews for the former MyFerryLink vessels it is due to bring into service next month. The seafarers,...
HMM in talks to sell dedicated bulk shipping unit to H-Line Shipping Amid growing rumours that it could enter receivership, massively-indebted Hyundai Merchant Marine confirmed today that it is in discussions to sell its dedicated bulk shipping businesses. H-Line Shipping, the divested LNG and dedicated bulk shipping division of Hanjin Shipping, is tipped as a potential buyer. A HMM representative told IHS Fairplay,...
Early execution of Busan port's 2016 budget More than 60% of the KRW325.5 billion (USD271.9 million) budget for Busan port's redevelopment in 2016 will be used by the end of 1H16. Busan Regional Office of Oceans and Fisheries announced that it has planned for KRW201.1 billion of the 2016 budget to be...
Charterers snap up VLCCs on period charters The start of 2016 has seen at least 11 very large crude carriers being booked for periods of as long as two years, as spot rates are still seen as being on the high side. Statistics provided to IHS Fairplay...
DS Norden sees two more years of hardship as huge impairment charge booked DS Norden, the listed Danish dry bulk and product tanker shipping company, has booked an USD340 million impairment charge in its dry bulk business and the company forecasts two more difficult years, before the market is expected to return to levels...
ICTSI eyes more opportunities in Africa and Middle East Construction of the ICTSI terminal in Matadi, Democratic Republic of the CongoInternational Container Terminal Services Inc (ICTSI) is expanding its footprint in Africa and the Middle East with two new terminals under development and an eye on more opportunities in the regions. The Manila-based terminal operator is currently halfway through a 20-year...
Cosco head resigns as China Shipping merger gets underway Ma Zehua, the man who replaced Wei Jiafu as chairman and party secretary for China Cosco Holdings in 2013 when the charismatic executive quit unexpectedly, steps down today as chairman of the mainland's largest carrier.He will be succeeded by non-executive director Wan Min, China Cosco said in a...
Container line capacity growth to hit record low, says analyst This year's capacity growth will be the lowest ever recorded for the global container shipping fleet, according to Alphaliner, welcome news for an industry already buried under a deluge of excess vessels that cannot be filled.The analyst expects the fleet capacity to grow by 4.6% in 2016, with fewer new...
Bolloré adds more wine, spirit cargoes French freight forwarding and logistics group Bolloré Logistics kicks off the new year with the acquisition of an ocean freight service provider. The group announced on 20 January the takeover of a majority shareholding in AMC Company (Agence Maritime Congancaise), a French freight forwarder specialised in shipments of wines and spirits. Neither...
Singapore offshore firms seek new opportunities Singapore-listed offshore firms are looking for more opportunities amid the depressed market to improve their revenue, and, in some cases, to expand their presence in a new market. Otto Marine has secured an agreement with a world-renowned port operator to be its preferred choice of offshore and marine service provider. The...
Long Beach prepares for first 18,000 teu ship and opening of Middle Harbor development Long Beach Container Terminal operator has been testing equipment and plans to start handling ships in April
Strong year for Barcelona port traffic Container traffic up 4% while shortsea cargo volumes hit record high
Eni drops Ocean Rig drillship DryShips affiliate consults lawyers over apparent loss of five months' employment
Cargill to consolidate shipping activities in Geneva Weak dry bulk market prompts trader to move operations from the UK
Star Bulk sells capesize amid dire dry bulk market As rates continue to fall, more players in the sector are ramping up their selling activities
Lifting of Iran sanctions will be good news for dry bulk - eventually Impact would be better felt if dry bulk sector were not so depressed
Australia volume growth a boost to LNG shipping Fresh cargoes and higher production volumes provide positive data for gas shipping, with Australia crucial to the future health of the global LNG carrier fleet
CSIS Ltd predicts heavy losses for 2015 State-owned shipbuilder is hit hard by depressed market conditions
Rigbuilder Keppel's fourth-quarter profit drops 44% on oil turmoil Keppel has been hit by the decline in the offshore industry as oil majors cut back on capital expenditure across the board
China needs market-based approach in shipbuilding consolidation As the brutal economics of shipyard consolidation unfolds, wearing the 'Yangqi' badge improves chances of survival
HMM confirms talks with Hahn & Co to sell its bulker fleet Pricetag for fleet of 14 operating ships and six newbuildings said to be $497m
Greeks fire back in tax spat with Brussels Commission move to force Greek tax changes threatens EU shipping as well as debt-strapped national economy, say owners
Glencore setback in Newcastle port rates tussle Case with significant implications for Australian port privatisation falters at National Competition Council
DP World to return to Russia Signs joint venture with Russian infrastructure fund to invest in ports and logistics
Container freight rate gloom set to continue Overcapacity and weak demand to keep box rates low in 2016
NYK wins charter for newbuilding wood chip carrier Vessel scheduled for delivery in 2018 to carry cargoes for Hokuetsu Kishu Paper
UASC resumes Iran container shipping services Dubai-based box line to implement strict internal compliance check
Samarco mine disaster knocks BHP Billiton's iron ore production Miner trims 10m tonnes off its guidance for the second half of the financial year
Moody's cuts outlook on Navios Holdings unit Move comes after parent company's rating downgraded
Cosco given green light for purchase of Piraeus port Improved offer of $401m accepted by Greek privatisation fund
HHI finishes the year with about $6bn in commercial ship orders, down 3% Offshore-related orders collapsed by 74% to 1.6bn
Cargotec to buy maritime software firm Transaction expected to conclude in first quarter of this year
Brittany Ferries to provide new Poole-Bilbao freight service Charter period is for 12 months with an extension option
JLT Re hires Cooper Gay MD to bolster marine and energy team Industry veteran will change jobs once contractual commitments are completed
Long Beach: $4 billion plan keeps us nimble as industry changes The Port of Long Beach is guiding more than $4 billion in investments that will keep the second-largest U.S. container port nimble so it can respond to shifts in global manufacturing and trade patterns, pending mergers among ocean carriers and the arrival of the biggest vessels to call in North...
Russia container trade decline slows Port of Novorossiysk, Russia.The rate of container cargo traffic decline at Russian seaports is slowing but still remains high, with volume plummeting by 25.1 percent in the fourth quarter, according to the Russian Association of Commercial Seaports. The 25.1 percent decline was a slight improvement on the 25.9 percent year-over-year drop...
China's slowdown sends shivers through supply chains Speaking to more than 2,000 attendees at the JOC's TPM Conference in Long Beach last March, IHS Chief Economist Nariman Behravesh delivered a sobering account about the world's second-largest economy. "No country anywhere, anytime, has ever seen that happen without something bad happening," he said, referring to China's ratio of...
Philadelphia port short-lists potential Southport developers The Philadelphia Regional Port Authority has issued a short list of potential developers of a marine terminal on 196 acres at the former Philadelphia Navy Yard. The port authority has been trying for several years to develop the Southport site adjacent to the Packer Avenue container terminal. Proposed uses for the...
Steady improvement in gate activity at DP World terminal in India's busiest port Gate operations at Nhava Sheva International Container Terminal, which took a hit due to the abrupt disruption earlier this week, have picked up speed over the past two days, according to the latest update from terminal operator DP World Nhava Sheva. NSICT is one of four container-handling facilities in Jawaharlal Nehru...
Shippers shouldn't expect lines to offer breaks on container weights Container lines are well known for making almost any concession to get or keep a customer, from dropping rates to offering extended free time on terminals, extended use of containers, or late cutoffs at gates. But they will have no room to budge on the requirement that a certified weight...
APM Terminals finalizes Cartagena joint venture, plans $200M investment Compas S.A. Cartagena TerminalAPM Terminals has finalized an agreement to establish a joint venture that will invest over $200 million in upgrading and expanding a container terminal in Cartagena, Colombia's largest port. The new joint venture between Maersk Group's port arm and Compania de Puertos Asociados, or Compas will manage and...
DP World seals Russia joint venture deal DP World Chairman Sultan Ahmed Bin Sulayem signs the joint venture agreement with Russian Direct Investment Fund CEO Kirill Dmitriev.DP World and the Russian Direct Investment Fund today announced the launch of a joint venture that will target investments in ports, transportation and logistics infrastructure in Russia. Under the agreement, signed...
Delays, construction glitches to bust Panama expansion budget Credit: Panama Canal AuthorityWhen the Panama Canal's third set of larger locks open to commercial traffic this spring, the massive expansion project will be more than a year and a half behind the original target date of October 2014 and an estimated $150 million over the $5.25 billion budget set...
FMC faces decisions that could impact industry for years Global changes in container shipping are confronting the U.S. Federal Maritime Commission with some of the most difficult decisions in its 55-year history. How FMC Chairman Mario Cordero and his four fellow commissioners respond this year and next could determine how the industry deals with carrier consolidation, the increasing influence of...
India's Cochin port introduces new intermodal service International Container Transshipment Terminal, or Vallarpadam, at India's Port of Cochin expanded its intermodal freight access earlier this week when state-owned Container Corp. of India introduced a weekly train service connecting the DP World facility with Coimbatore, a major southern India inland point. "The train from Irugur in Coimbatore will start...
Idle box ship fleet edges higher The number of idled container vessels over 500 twenty-foot equivalent units edged slightly higher in the first two weeks of the year and is set to increase as carriers axe sailings in the run-up to the Chinese New Year holiday, according to Alphaliner. There were 337 unemployed ships as of Jan....
Greece accepts Cosco's 'significantly improved' Piraeus port offer Greece has accepted a "significantly improved" offer from China's Cosco Group for the state's majority stake in the Piraeus Port Authority. The Hong Kong-based company will pay 22 euros per share, or 368.5 million euros ($402 million), for the 67 percent shareholding in the operator of Greece's largest port, the state...
Lowest ever container ship growth expected in 2016 Scrapping and other deletions is expected to take about 350,000 TEUs of capacity out of service this year.This year's capacity growth will be the lowest ever recorded for the global container shipping fleet, according to Alphaliner, welcome news for an industry already buried under a deluge of excess vessels that...
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