|AUGUST 1, 2019|
- HK needs a centralised port authority to cope with rising competition
- BIFA warns of lack of directions to deal with no-deal Brexit
- Rotterdam port handles record 240m tonnes of cargo
- ICL switches UK port call to Southampton, dropping Liverpool
- CN posts record Q2 earnings, revenue and operating income
- London September 11 conference on salvage casualty response
- Asia Pacific air cargo demand drops in June with weaker exports
- DHL Parcel raises charges due to higher transport and personnel costs
- Kuehne+Nagel strengthens perishables network in Canada
|JULY 31, 2019|
- Cogoport adds refrigerated shipping services in major development for India's burgeoning reefer industry
- FIATA pledges to lead forwarders through the digital age
- MOL Group companies win two awards at 'Ship of the Year' honours
- Navigability of National Waterways monitored by regular hydrographic surveys & channel inspection, says Minister
- Shipping Ministry appoints committee to promote coastal shipping
- PSA's Bharat Mumbai Container Terminals achieves new productivity record
- MEIS to be phased out after India's export "subsidy" challenged
|JULY 31, 2019|
- ONE reports first quarterly profit as its business turnaround continues
- Supply chain radar: 'Bye 'bye Panalpina - the 'last call to paradise'...
- 'Significant' changes at Ceva in H1 as CMA CGM makes its presence felt
- UPS launches international economy option targeting small parcels, but quietly
- Tight grip on costs keeps DSV on course, despite 'difficult' markets
- NAST gives CH Robinson a boost as second-quarter revenues plunge
- Davies Turner still has a taste for Turkey, despite local trade volatility
- Former CEO of DHL on leading it through an existential crisis
- Keith Winters takes over as CEO at Crane Worldwide Logistics
- On the wires: CMA CGM running Ceva as 'others could only dream about'? Not yet, but...
- On the wires: Stop it, CH Robinson!
- Supply chain radar: Like all the others, DSV is not in its prime anymore - so what?
|JULY 31, 2019|
- Navy works to make all its ships stay the same shade of gray
The U.S. Navy would prefer that its ships be just one shade of gray. Now, a pigment package designed by the U.S. Naval Research Laboratory (NRL) to slow discoloration of the exterior
- Legislation seeks to free up funding for MKARNS upgrades
U.S. Senators Jim Inhofe (R-Okla.) and John Boozman (R-Ark.), along with Governors Kevin Stitt (R-Okla.) and Asa Hutchinson (R-Ark.), announced provisions in America's Transportation Infrastructure Act that outline the future for modernizing
- Scorpio Tankers loses less, gets scrubber financing
Scorpio Tankers Inc. (NYSE: STNG) has reported its results for the three and six months ended June 30, 2019. For the three months ended June 30, 2019, the company's net loss was
- Terral rebuilds boat it bought from Kinder Morgan
Lake Providence, La., headquartered Terral River Service, Inc. reports that the M/V Lena Louise, a boat acquired from Kinder Morgan in 2017 and previously named the M/V Austin Stone, is back in
- USCG starts formal investigation of fatal Augur lifeboat incident
Rear Adm. John Nadeau, who recently took command of the Eighth Coast Guard District in New Orleans, convened a formal investigation last week into a fatal incident that occurred onboard Shell's Augur
- Samsung Heavy gets DNV GL type approval for lithium-ion battery system
Shipbuilder Samsung Heavy Industries (SHI) reports that it has received a type approval certificate from DNV-GL for a marine lithium ion battery system, jointly developed with sister company Samsung SDI. This is
|JULY 31, 2019|
- Teekay Offshore cuts second-quarter losses
Revenue stayed the same, but losses were significantly less than for the same period last year
- Capital Product increases profit after tanker spin-off
Net income rises to $7.8m for the second quarter, versus $4m in the same quarter a year ago
- Navios Partners lines up $140m refinancing deal
The new credit facility agreed this month, subject to final documentation signing, is with an unnamed commercial bank
- Swedish Club doubles war risk premiums as Hellenic trims rates 10%
'Hellenic... is financially strong and in a very good position, and had a lot of members affected by additional premiums...
- The Interview: Nick Shaw
Nick Shaw got the job as chief executive of the International Group after only the second employment interview of his...
- Pacific Basin still ripe for vessel acquisitions
Hong Kong-based company operated an average of 230 smaller-sized bulkers in the first half of the year. It owns 115...
- Yilport inks 49-year concession at Taranto
'Once we build relations with container lines, they will bring their cargo here. Then the business will peak. We foresee...
- US leads talks on international naval mission to protect Hormuz shipping
Germany is said to have already turned down a formal request from Washington to participate in a US-led naval mission...
- Investment gains boost SIPG's profits
Net profit for the port operator jumped more than 29% year on year to $635m for the first half of...
- Charterers are the key to greener shipping
An academic study has concluded that vessel charterers benefit more from trading opportunities than from saving the planet. Until that...
- Tokyo and Paris MOUs launch emergency system inspection blitz
One of the goals of the campaign is to ensure that ships are capable of responding appropriately and promptly to...
- Japan's big three hit by lower dry bulk rates
Product tanker rates set to rise because of an increase in demand for gas oil transportation before the 2020 sulphur...
- Royal Navy reports 85 Iranian 'interactions' in Hormuz
British naval ships have been directly escorting or accompanying UK-flagged ships through the energy commodities waterway throughout July, amid an...
- Daily Briefing
Clock ticking to avoid Brexit shambles | Singapore yards on recovery path despite tougher climate | EIA earmarks Europe as...
- Stena Bulk expresses 'growing concern' for welfare of detained crew
The company reiterated that there is no evidence of a collision involving the vessel as alleged by Iran
- Singapore releases Kunlun LPG carriers
One of the two liquefied petroleum gas tankers has left Singaporean waters and is headed for China, Lloyd's List Intelligence...
- Golar and Exmar contest Leviathan FLNG project
At stake is a term charter from the Noble-operated Leviathan project for the supply of Israel's first FLNG
- ONE posts maiden quarterly profit
ONE has revised up its forecast of profit for this fiscal year to $90m because of a stronger performance in...
- Charterers 'behaving rationally' in rejecting virtual arrival clauses
In theory, 'virtual arrival' would enable ships to reduce speed, and thereby emissions; in practice an academic study found charterers'...
- Port of Boston sees impacts of Sino-US tariffs on container throughput
The port's trade with China declined by 3.94% to $971.71m as exports dropped 20.36% to $138.76m, while imports fell only...
|JULY 31, 2019|
- Carriers get reprieve on new India manifest rule
- ONE shrugs off poor first year with Q1 profit
- DSV chief: Low rates will take sting out of IMO 2020
- More US projects get DOT's 'marine highway' designation
- Odyn buy boosts Turvo in logistics software space
- Mexico enhances play as regional supply chain gateway
|JULY 31, 2019|
- Coastal Oil Holdings handysize tanker sails to Norstar Shipping
Singapore company takes control of product tanker, while sistership goes to Chinese interests
- Chemical tanker Folk Beauty could take the prize at auction
Folk Beauty expected to attract strong buyer interest when goes under the hammer in Singapore
- Samos Steamship sheds oldest tanker
Greek company said to have sold a 14-year-old aframax, just a few weeks after being linked to the purchase of a capesize
- Oman Shipping makes $46m entry into ultramax bulker market
Busy year continues for shipowner with two-unit purchase
- Prelude, Ichthys bad for VLGCs but good for smaller LPG carriers
Australian LPG exports are set to rise from the two projects, cutting tonne-mile demand but potentially boosting regional trade
- Coalition members to bear the burden in US group
It would be 'an 80 or 90 percent coalition effort and a much smaller US effort'
- Shipping lifts NYK into black for second quarter
NYK's bulk shipping and liner segments were enough to pull the company's second quarter results out of the red. The Japanese shipping giant reported Wednesday an $88m (¥9.5bn) profit for the second three months of 2019, the first quarter of NYK's fiscal year. NYK goes cashless with new crew app NYK Line set to nudge up berths at Hyundai Samho For the quarter, the company's liner trade segment
- Shipping leaders urge delay to Panama Canal toll hike
Lobby warns that implementation on 1 January will have 'negative impact'
- Navios Partners seals new $140m loan and strikes two leaseback deals
While profits slump, the partnership has sold a capesize and a panamax and has refinanced other vessels
- Scorpio Tankers tracks rates from 'nowhere land' to IMO 2020 promised land
Scorpio Tankers executives today set out how the spot market should pull away from its present "nowhere land" in the "dark days of summer" and move towards the promised land of IMO 2020. The New York-listed shipowner also revealed it has no plans to avoid the Strait of Hormuz, following the seizure of the 50,000-dwt Stena Impero (built 2018). Scorpio Tankers inks $87m in scrubber finance with fu
- LNG carriers snapped up for multi-month business
Energy majors and traders home in on vessels as activity picks up for winter coverage and beyond
- Court battle ensues over Chilean FSRU-based LNG project
Original developer accuses two former partners of snatching a planned LNG import terminal near Concepcion from him and associates
- Reshaped Capital Product Partners sees profit spike
Capital Product Partners has greatly improved its bottom line in the second quarter. The Jerry Kalogiratos-led owner posted a $7.89m profit for the second quarter versus $4.02m during the same period last year. Earnings per share came in at $0.44, beating Wall Street consensus of $0.43 and last year's figure of $0.08. Mediterranean Shipping Company strikes long-term deal for Capital Product pai
- Ship sale hits Ardmore Shipping in second quarter
A seasonal downturn and the loss from a May ship sale held down Ardmore Shipping's second quarter earnings. The New York-traded shipowner posted a $9.9m loss on Wednesday, versus an $8.6m loss for the same period the year prior. Ardmore Shipping said to have sold oldest tanker on its fleet Narrowing NAV gap could herald pick-up in shipping investment The performance came in a quarter where Ard
- Eagle Bulk Shipping eyes growth options after six-ship deal
Eagle Bulk Shipping has left the door open for further growth and mergers-and-acquisition activity after netting more than $114m to fund its second major enbloc transaction in under three years. Nasdaq-listed Eagle Bulk raised the capital from a convertible notes issue, with the backing of its two major investors, and is set to spend $122m on the new vessels, which will all be fitted with scrubbe
- Figures that should set alarm bells ringing over ship safety standards
Industry's shameful record prompts nations across Europe and Asia to launch clampdown on vessel emergency systems and procedures
- Scorpio Tankers inks $87m in scrubber finance with further bank talks underway
Scorpio Tankers has struck loans worth $87m to support a vast programme to fit scrubbers on its ships. It is also in talks to secure an addition $35m in debt to back a $120m project to meet IMO 2020 requirements. Scorpio's Bugbee and Deutsche Bank's Mehrotra go head to head over share sale strategy Scorpio Bulkers books strong results as it takes on tonnage New York-listed Scorpio Tankers reve
- Kristian Siem steps back on to Siem Offshore board
Eystein Eriksrud is vacating all of his executive positions within Siem Group companies
- Repsol to build LNG bunker stations for Brittany Ferries newbuildings
First of three LNG-fuelled ropax now set for delivery at end of this year
- Ship Finance International taps into bond for extra cash
John Fredriksen's Ship Finance International has tapped into an existing bond for additional capital. John Fredriksen's Ship Finance International banks $80m bond purse New York-listed Ship Finance has added NOK 100m ($11m) from a bond set for maturity in September 2023. The tap is a small chunk of capital for a company which invested around $1.2bn last year across a number of notable transacti
- Kawasaki Heavy Industries reports shipbuilding loss
Profits are down but Japanese yard builds up orderbook
- Shortage of big containerships sparks resurgence in market
Charter rates defy usual seasonal slump to hit a new high for this year
- Ancient cargoship routes discovered in South Pacific
On Watch: TradeWinds' weekly column taking a sideways look at shipping news
- Another big loss but board says Kristian Gerhard Jebsen outfit is in 'good financial standing'
Shipowner Kristian Gerhard Jebsen Skipsrederi (KGJS) has suffered heavy losses for the third year in a row, but the board insists it is "in a satisfactory and good 'financial standing". The Bergen-based company has just made the results for 2018 publicly available and they show a pre-tax loss of $86.6m, against a $165.8m loss the previous year. Leading in tankers KGJS made a huge impairment on
- Greek handysize bulker buying picks up steam in July
At least five small bulkers acquired by Hellenic buyers last month
- Teekay Offshore Partners cuts second quarter loss
Teekay Offshore Partners has cut its second quarter loss thanks to a sharp reduction in impairments and a profitable sale of vessels this time around. Brookfield-backed Teekay Offshore saw its bottom line loss run to $28m for the three months to the end of June, some way ahead of the $168m loss last time around. Ingvild Saether, chief executive of Teekay Offshore, pointed to "another good operat
- Former Remi Maritime ship auctioned online in Greece
A 10-year-old supramax bulker arrested earlier this year by the National Bank of Greece went under the hammer in the northern port city of Thessaloniki on 24 July, TradeWinds has learned. A single offer of just $5 more than the reserve price of $9m won the 57,000-dwt Blue Cat (built 2009) in an electronic auction. The buyer's identity was not revealed. Some brokers believe the ship was acquired b
- Borr Drilling sights up to $52.4m from New York's first offshore IPO since 2014
Tor Olav Troim's Borr Drilling is set to raise up to $52.4m from its initial public offering in New York which will end a half-decade drought for fresh offshore listings in the US financial capital. Borr priced its offering of five million shares at $9.30 each, with a further 750,000 shares set aside for its underwriters. Tor Olav Troim's Borr Drilling looks to fetch $50m from New York listing
- Baltic Exchange in shipping emissions data project with GeoSpock
Diversification on the cards as exchange adds to big data to its freight indices services
- Golden Energy Management inks $150m tanker deal with STX
Golden Energy's newbuildings will be fitted with scrubbers and built in South Korea to the latest IMO NOx Tier III emissions standards
- Limited protection from swapping UK flag in the Strait of Hormuz
Reflagging or dual registration of British-registered vessels passing through the crowded waterway may not be the solution in a time of rising international tensions
- Mitsui OSK Lines powers to profit on turnaround at ONE
Japanese shipowner said containership operation saw significant improvement in liftings
- Reduced red ink at ONE helps K Line book profit
Japanese owner back into the black as other key divisions also post improved profitability
- Chevron backs Enterprise's Texas VLCC export terminal
Pipeline operator says tie-up with US oil major supports projects final investment decision
|JULY 31, 2019|
- Democrat presidential hopefuls talk trade
Tariffs and USMCA were among the topics discussed during Tuesday night's presidential debate.
- GSC Logistics scores success with imports
Handling about 12% of the Port of Oakland's imports, the drayage and warehouse company wants the port to preserve its recent success.
- DSV outgrows market despite soft air demand
The forwarding and logistics company moved 6% more containerized sea cargo in the second quarter and has received approval of its merger with Panalpina.
- CEVA posts weak first-half results
- Winters named Crane Worldwide CEO
- Savannah's share of container imports grows
|JULY 31, 2019|
- FUJAIRAH DATA: Refined product stocks fall 5.8% on heavy distillate decline
"Activity in Fujairah has picked up, with availability of bunker barges at the port tightening as a result," the report said.
- Japan's K Line secures compliant fuels in main bunker hubs as IMO 2020 nears
K Line has also completed trials of such fuels on multiple vessel types as the IMO 2020 deadline drew closer.
- Singapore delivered MGO premium retains strength after a month of MFM mandate
"Premiums are likely to hold steady as more demand emerges ahead of IMO," a supplier of MGO said.
- FUTURES: Crude rises on bullish US stock data, geopolitical risks
Tension in the Middle East remains high, with Iran and France starting discussions about the nuclear deal, ANZ analysts said.
- Falling Rhine levels risk distillates crunch as IMO 2020 looms
"It is tight indeed, especially up to Basel, not many barge owners want to go there with water levels dropping," a barge source said.