|JULY 4, 2019|
- CMA CGM levies war risk surcharge for cargo crossing the Persian Gulf
- CMA CGM levies US$200/TEU Asia-S Africa rate hike August 1
- OOCL cancels Asia-Europe sailings due to low demand
- US retailers welcome decision not to impose more tariffs on Chinese goods
- ITCSI's Croatian terminal expands to handle 20,000 TEUers
- Singapore Shipping Association issues IMO Sulphur Cap 2020 Readiness Plan
- FreightWaves acquires American Shipper
- APL scoops 'Fuel Efficiency Award' at Seatrade Maritime Awards Asia
- Cargo volume dips 5pc at Singapore Changi Airport in May
- Air freight players hunt out new markets to offset fallout from trade war
- Air Canada to purchase Canada's Transat for US$396m
|JULY 3, 2019|
- CMA CGM supports development of company specialising in underwater solutions for maritime industry
- More lines join blockchain-enabled digital shipping platform
- Deendayal Port has a number of projects lined up to further consolidate its position
|JULY 4, 2019|
- More service, fewer trucks
|JULY 3, 2019|
- HMM move will reshape the shipping alliance landscape again
- Shipping starting to clean up its act, but aviation contrails still a concern
- Haulage sector wants Whitehall to ensure goods keep moving after 'no-deal' Brexit
- Investors see potential in the new logistics 'disruptors'
- Contship Italia appoints Alfredo Scalisi general manager at La Spezia terminal
- ZIM launches new Asis-US Gulf services in co-operation with 2M
- Inside the conflict at Walmart
- John Dietrich takes over at Atlas Air, as Bill Flynn becomes chairman
- Market Insight: Q&A with Joe Bento - Radiant's 'unique model' is key as it keeps chasing growth
- Analysis: time to return to good 'old-fashioned loyalty' in logistics
|JULY 3, 2019|
- Maine Maritime to add new Center for Professional Mariner Development
William J. Brennan, President of Maine Maritime Academy (MMA), Castine, Me., recently announced today that the academy has completed the purchase of a four-acre parcel of land at a former paper mill
- Virginia starts construction of first offshore wind farm
Virginia Governor Ralph Northam picked up a shovel July 1 to take part in a ceremonial ground breaking marking the start of construction of the Coastal Virginia Offshore Wind (CVOW) demonstration project,
- IMO's MSC moves ahead on inclinometer carriage
The carriage of electronic inclinometers on all newbuild containers and bulk carriers could become mandatory under the SOLAS convention. IMO's Marine Safety Committee recently approved a German government submission on inclinometer performance
- Grimaldi cruise ferries go greener with Corvus "mega batteries"
Corvus Energy reports that it has completed the installation of a 5.5 MWh battery energy storage systems (ESS) in each of the two Grimaldi Group RoPax cruise ferries Cruise Barcelona and Cruise
- Business booming at BWTS specialist Optimarin
Sandnes, Norway, headquartered ballast water treatment specialist Optimarin reports that its results for the first six months of 2019 show a year-on-year doubling of revenues, orders and a substantial increase in earnings.
- China raises Malacca Strait security level to MARSEC 3
The Chinese Ministry of Transport has raised the security level for Chinese-flagged vessels transiting the the Strait of Malacca to MARSEC Level 3 - the highest threat level. "All relevant international shipping
- ExxonMobil introduces its 0.50 percent sulfur marine fuels range - EMF.5
ExxonMobil has introduced EMF.5, its range of Engineered Marine Fuels developed ahead of the International Maritime Organization's (IMO) global 0.50 percent sulfur cap. It says that all the fuels in the range
|JULY 3, 2019|
- UK ports want Brexit customs measures extended across the board
'Most of Britain's ports already successfully handle huge volumes of non-EU trade and have been working hard to prepare for...
- Drewry downgrades 2019 container growth forecast
Drewry says a series of existential fears are beginning to present themselves that could dent demand for shipping in the...
- Greece urged to prioritise seafaring as a profession
Remarks come just ahead of Greek national election
- EU overestimates shipping's CO2 emissions by 18m tonnes
EU revises published CO2 data in MRV report down by 12% after mistake regarding emissions linked to just three ro-pax...
- Global Energy Ventures chooses CIMC for compressed natural gas ships
The Chinese yard won the contract to build the four 200MMscf CNG carriers in a competitive bid among three yards
- Greek owners top first-half secondhand spending
Allied Shipbroking data shows Greeks spending $1.6bn on 116 vessels in first six months, although S&P business overall is lagging...
- Capesize rallies on tonnage tightness in the Atlantic
China is drawing down iron ore inventories at a record pace to levels last seen around 2017, according to analysts
- UN allows release of ships after alleged sanctions-busting probe
The United Nations has approved the release of two ships impounded by South Korea on suspicion of transferring oil to...
- Zim picks up extra loops in wake of HMM alliance reshuffle
Israeli carrier extends co-operation agreement with 2M on Asia-US east coast trades
- World Boxship Fleet Update: Calm before the storm?
Fleet benefits from no new orders in June, but there could be more on the way
- Stolt-Nielsen says chemical tanker market has 'bottomed out'
The tankers division reported an operating profit of $12.8m, compared with $14.3m in the year-earlier period
- China raises attack alert in Malacca Strait to highest level
'The raising of the threat level for Chinese-flagged vessels has been unexpected, particularly as the regional dynamics within and surrounding...
- Braemar boosted by 'strong' newbuilding activity
'Our newbuilding activity has been strong in recent months and has added to the forward order book,' Braemar said
- Daily Briefing
Iranian crude nears EU after start of trading mechanism | Unipec in 'league of its own' to lead tanker charters...
- Brazil probe tracks alleged bribes linked to Sembmarine
The payments EJA's former consultant made in favour of EJA have also been linked to the former president of the...
- Maersk says new trade routes offset impact of US sanctions
More than 80% of the volume decline in container traffic from China to the US has been compensated for by...
- Annus horribilis: the year P&I went pear-shaped
Marine mutuals report steep climb in major claims, with some also highlighting personal injury claims and the impact of inflation...
|JULY 3, 2019|
- Zim, 2M deepen pact with new Asia-Gulf services
- Bill would allow California agency to block port automation
- Peak season capacity slashed on Asia-Europe
- US spring trucking surge arrives late
- More R&D needed for low-carbon marine fuels
- Infographic: Sailing toward zero-emission container shipping
|JULY 3, 2019|
- Cuban state oil company on US sanctions list
Maduro is 'clinging to power', says treasury secretary Steve Mnuchin
- Dry bulk market heads into 'challenging' second half
Dry bulk freight rates are on the rebound but trade dynamics and scrubber retrofits pose risks, shipowners say.
- Avenir LNG confident of newbuild charter despite being a reluctant shipowner
Avenir LNG looks increasingly likely to charter out the first of its small-scale newbuildings, the chief executive of one of its major shareholders has confirmed. The Oslo over the counter listed company has four 7,500-cbm ships and two 20,000-cbm vessels on order and an 80% share in an import terminal being built in Sardinia. Avenir LNG mulls employment options for first newbuilding Open specu
- Petrobras appeals $620m judgement against Vantage
Petrobras is appealing its $622m US federal court loss in the four-year legal fight with Vantage Drilling featuring Taiwanese shipowner Nobu Su. Vantage Drilling wins $620m Petrobras arbitration fight The Brazilian state oil company filed notice it was appealing the judgement that the 2017 arbitration process before the International Centre for Dispute Resolution was fair 21 June. The appeal wil
- Sinokor moves on aframax tanker newbuildings at Samsung Heavy
Talk swirls around extent of haul at Samsung Heavy Industries
- Hapag-Lloyd caps liability after January ship fire
Hapag-Lloyd has had its liability capped after a fire aboard one of its containerships in early January. District judge Gregory Woods signed an order last Friday limiting claims against the German shipowner to $15.9m after the 3 January fire on the 7,510-teu Yantian Express (built 2002) in the North Atlantic. TT Club: Major boxship fire occurs on average every 60 days The fire started in a seal
- Neste re-emerges as shipowner with ice-class tanker order
Finnish refiner Neste has splashed out $140m on a pair of specialised aframax tanker newbuildings in what appears to be a return to shipowning. A spokesman for the company confirmed that Neste has contracted two ice-class 1A aframax vessels at Hyundai Heavy Industries in South Korea which he said are of a high specification. Neste sells last tankers He said the vessels are for trading in the Ba
- India on way to join Hong Kong Convention, official says
Indian ambassador affirms country's commitment to ship recycling treaty
- PB Tankers removed from US sanctions list
PB Tankers been removed from the US Treasury Department's Office of Foreign Asset Control's list of blocked persons and property after the Italian shipowner agreed to terminate its charter with Cuba's state oil company. According to OFAC, one of PB Tankers six ships, the 51,062-dwt Silver Point (built 2001) had a charter to carry oil between Cuba and Venezuela, in violation of US sanctions. PB T
- Kmarin settles for $7.5m less on sale of ex-Hanjin boxship
Price for Kmarine Aqua below market benchmark, probably due to outstanding charter commitments
- Freight rates on the transpacific soar as lines axe sailings
But operators on Asia to Europe trades struggle to counter weak demand by slashing capacity
- BW Group takes Dorian LPG selldown to $5.7m with latest share sales
Andreas Sohmen-Pao's BW Group has extended its selldown of stock in former takeover target Dorian LPG. LPG owners don't expect new ships despite rising rates BW Group cuts Dorian LPG position Commodore-to-be John Hadjipateras has no regrets after baulking at BW LPG takeover bid The Singaporean Group has now shed shares worth $5.7m in its rival during the past two weeks, filings show. As Trade
- Equinor keeps Eidesvik PSV for three years
Viking Avant will be upgraded with battery and hybrid power solutions.
- Italian ship-demolition project moves ahead in Mediterranean
New shiprecycling facility in the Mediterranean expects to start work in September - and has eyes on European approval
- UK tries again with no-deal Brexit ferry tender
Owners asked to provide extra capacity once more - if the UK crashes out with no agreement.
- Strike Club reaffirms cover after Gulf attacks
Mutual's board pledges to keep delay insurance in place despite heightened risk.
- KOTC quashes rumours of five-year-old VLCC scrap sale
Kuwait-based tanker owner says brokers around sale of modern tanker are inaccurate
- Owners suffer because shipping can't trust port state control data
Thousands of ships have been reported with detentions that never happened. Efforts to correct the errors have not gone far enough
- Russia hits the accelerator on its planned Arctic LNG projects
But key decisions still need to be made on shipping before the final picture becomes clear
- Varde Partners plots long-term stay in shipping industry hit by dislocation in funding
Transport boss outlines three-pronged approach to industry facing $50bn pullback in bank financing
- AGS lists in Oslo after Songa Bulk takeover
Houston seismic vessel operator begins trading in Norway after adopting Blystad company's listing.
- Pacific Basin Shipping wipes out swathes of bond debt
A put option has been met with enthusiasm from Pacific Basin's bondholders, which has reduced its debt burden.
- Zim boosts 2M ties after HMM defection
Israeli line looking to step up collaboration after South Korean owner quits alliance.
- Stolt-Nielsen set for $420m in tanker finance as it closes on $200m terminal placement
Stolt-Nielsen is set to bank a major loan covering a raft of tankers and is in the process of securing capital for its terminal business. Oslo-listed Stolt is also confidence of meeting bond maturities due in the next couple of years, it told investors today. Stolt-Nielsen posts weak second quarter results as tanker upturn proves illusive Brexit prompts CMA CGM UK flag exodus John Fredriksen
- Wartsila steps up biogas fuel drive
Finnish shipping technology group Wartsila has formed a new company to supply biogas. Wartsila Biogas Solutions (WBS) has been formed by merging Wartsila Puregas Solutions, a specialist in biogas upgrading technology, with Wartsila's biogas liquefaction team. The market for advanced biofuels is growing in line with efforts regarding the reduction of fossil fuels, the company said. "Wartsila Bio
- China issues ship attack warning for Malacca Straits
Authorities have raised security to the highest level for China-flagged ships in the Malacca Straits.
- Seatruck tightens safety after crewman dies in fall
Danish owner's 66-year-old bosun took unnecessary risk during painting work on ropax, UK probe finds
- Stolt-Nielsen posts weak second quarter results as tanker upturn proves illusive
A terminal fire in the US and a chemical tanker market stuck close to the bottom of the cycle have impacted results at Stolt-Nielsen. The Oslo-listed shipowner today reported a second quarter performance below market expectations amid a positive outlook for improvements ahead in the tanker sector. Avance Gas eyes Fredriksen-driven fleet growth and a possible US listing Avenir LNG mulls employme
- Strong newbuilding activity drives better first quarter for Braemar ACM
Shipbroker Braemar ACM has enjoyed an improved first quarter performance helped by a strong showing in the newbuilding market, its London listed parent told the City this morning. Boxship demolitions on course to double as feeders head to beaches Downing trims Braemar stake on back of share price rally Key shipping players party onboard the Christian Radich Braemar Shipping Services also point
- Flensburger denies its ferry customers are ditching orders
German shipbuilder says ropax orders remain on track despite recent media claims to the contrary
- Sun shines on McIlvaney's 14th annual golf tournament
Brokers, cash buyers, retirees and friends enjoy a day on the greens
- Scrubbers will be best solution for many years, says Yara Marine boss
Health and environmental benefits are major drivers that technology provider claims make systems best investment
- YPF hunts for lone LNG carrier for Tango FLNG cargoes
Argentinian energy company may need vessel to wait as mini-floater restocks its tanks
- Astrup investment firm Pactum suffers sharp decrease in profit
Norwegian shipowner Eivind Astrup and his family saw a sharp drop in profits last year at their investment firm, Pactum. Pactum logged a pre-tax profit of NOK 94m ($11m, at today's exchange rate) on revenues totalling NOK 109m in 2018, according to the company's annual report, which has just become publicly available. Astrup celebrates strong year with solid profits Greek owner pays $11.6m for
- Brexit prompts CMA CGM UK flag exodus
French line has moved 49 vessels from UK register to avoid uncertainty
- Digital standardisation 'may be impossible' for shipping
But difficulty in unifying digital standards should not mean extra costs, Jacco de Jong says
- Jensen and Clarksons team up on $1.2bn order for pioneering gas ships
Australian company GEV picks CIMC Raffles for up to eight new CNG carriers
- LPG owners don't expect new ships despite rising rates
Avance CFO Simonsen: 'There's enough ships already in the orderbook'
- Brazil searches Sembcorp Marine yard as part of 'Operation Car Wash'
Singapore rig builder said action relates to investigations against a former consultant and yard president.
- VIDEO: Boskalis to "dry-dock" Carnival ship for pod repairs
Operation by Dutch contractor will see work carried out aboard semi-submersible vessel
|JULY 3, 2019|
- Commentary: Huawei saga a lot like ZTE story
U.S. companies eager to rekindle their exports with the beleaguered Chinese telecom Huawei should expect the unexpected, 40-year export control consultant says.
- 2M Alliance, ZIM add Gulf services
Maersk and MSC add a second service between Asia and U.S. Gulf ports, and ZIM will take space on both.
- Belgian firm absorbs bankrupt third-party freight payer
The U.S. Bankruptcy Court for the Middle District of Florida approved the $2.3 million sale of IPS Worldwide's remaining assets to Europe Management SPRL.
- Drewry downgrades container growth projections
Global container port throughput is forecast to grow 3% in 2019 instead of 3.9% because of tariffs and other headwinds.
- Firms exempted from CV duties on Canadian softwood
Customs and Border Protection will refund all cash deposits of estimated countervailing duties collected on those shipments.
- CBP sets date for mandatory electronic in-bond filings
- Lessors warn misuse of containers growing
- US, Tunisia ink Customs Mutual Assistance Agreement
- State adds Gabon eligibility for rough diamond trade
|JULY 3, 2019|
- Italy's Bunker Energy to launch 0.5% S bunker fuel at Augusta
Italian bunker supplier Bunker Energy is to launch IMO 2020 compliant 0.5% sulfur marine fuel at Augusta, the company said in a press release Wednesday.
- NYMEX RBOB surges as USAC stock draw heightens supply concerns
RBOB futures settled sharply higher Wednesday amid supply concerns after US Energy Information Administration data showed a steep drop in US Atlantic Coast inventories last week.
- ExxonMobil offers low-sulfur Engineered Marine Fuels ahead of IMO 2020
"Compliance should not come at the expense of fuel quality," Volta said.
- Gasoil EFS narrows to year-to-date high on tighter Asian supply
Production cuts at regional refineries to around 80%-90% since May, coupled with scheduled turnarounds in India and China have propped up prices.
- FUTURES: Crude higher on bullish US stocks data, OPEC+ supply deal
Prices may have found a floor of around $60/b for Brent crude but further upsides depend on the resolution of US-China trade tensions, among others, an IG market strategist said.
- SHIPPING QUARTERLY: Americas Q3 dirty tanker freight to firm on exports, IMO 2020
IMO 2020 could reduce tonnage availability as owners send ships to dry dock for scrubber installations, floating storage needs and earlier-than-normal refinery maintenance.