|JULY 26, 2019|
- Global trade tensions drag down HPH Trust H1 net profit by 26pc to US$30m
- DP World's Q2 box traffic up 1.6pc, despite dip in M-East East cargo
- Global fleet grows to 22.7 million TEU as big ship demand rises
- FMC keeps tabs on low-sulphur fuel surcharges
- Genoa port handles record 241,466 TEU in June
- West Virginia may sell unprofitable Heartland Intermodal Gateway
- Malaysia stands to benefit from increased ASEAN-China trade
- Amazon to construct major cargo complex at Lakeland Linder airport
- Airlines to manage capacity tightly to boost H2 peak season rates
- Geodis expands at Schiphol to cope with growing demand
|JULY 25, 2019|
- 'Sustainable shipping for a sustainable planet' is the World Maritime theme for 2020
- NYK establishes 'MarCoPay', an electronic money platform business
- Skeiron Logistics successfully completes coastal movement of one of India's largest windmill blades
- Transworld Group launches WhatsApp service for customers
- KPSAA elects office-bearers for 2019-21
- Rotterdam port handles more cargo in H1 thanks to containers
- India ranked 52nd in Global Innovation Index 2019
- Iron ore prices seen rising 15-20 pc in FY21 after expiry of mining leases
- Perspective Plan for Chennai-Bengaluru Industrial Corridor completed
- Trade-restrictive measures continue at historically high level, says report
|JULY 25, 2019|
- Failure of WGA aircraft caused 'our business to suffer', Flexport tells court
- Kuehne + Nagel can boost overland services with acquisition of Jöbstl
- More trade war tariffs could mean 'double-digit' import declines at US ports
- Strong second quarter, as UPS reports profit growth in all divisions
- Flexport head-hunts IT specialist James Chen from Amazon
- Grayling out, Shapps in - but is the new transport minister any sharper?
- Metro Shipping puts staff development on the freight front line
- Supply chain radar: The Panalpina air freight fiasco - 'who pays for it'?
|JULY 25, 2019|
- Carlyle Group to be majority owner of new merged Vigor and MHI Ship Repair
The Carlyle Group (NASDAQ: CG) and private equity firm Stellex Capital Management have reached announced a definitive agreement to acquire and merge Portland, Ore., headquartered Vigor Industrial LLC and Norfolk, Va., based
- Fast underwater stern tube seal replacement avoids need to drydock
Underwater repair specialist Hydrex reports that last month one of its diver/technician teams carried out underwater stern tube seal repairs on a 192 meter RO/RO vessel in Rotterdam. The vessel was suffering
- Austal and Cerberus said to be eyeing acquisition of former HHIC Philippines yard
Nikkei Asian Review reports that a consortium of U.S. private equity firm Cerberus Capital Management and Australian shipbuilder Austal is in exclusive talks to acquire the strategically located Cebu, Philippines, shipyard formerly
- West of England P&I strengthens its fixed premium team
The West of England P&I Club reports that Tom Davies has joined its fixed premium P&I underwriting team. Davies joins the club from Lodestar where he serviced European, Middle East and South
- Island Tug & Barge puts second new ATB tug into operation
Island Tug and Barge Ltd.'s second new ATB push tug Island Regent entered service at the end of June pushing the double hulled refined petroleum products barge, ITB Reliant. The vessel was
- Kirby to spend $20 million on BWTS
America's largest tank barge operator, Kirby Corporation (NYSE: KEX) expects to spend approximately $20 million this year on ballast water treatments for it coastal fleet. That's good news for ballast water management
|JULY 25, 2019|
- New UK prime minister pledges to prioritise free ports
'Let us begin work now to create free ports that will drive growth from thousands of high-skilled jobs in left-behind...
- Royal Navy will escort UK shipping through Strait of Hormuz
The offer of naval escorts, if requested, is a significant escalation in aid to British shipping
- Kirby Corp lowers outlook
Reduced oilfield exploration and production activity has meant a 'more pronounced than expected' downturn in Kirby's distribution and services, a...
- The Lloyd's List Podcast: Why the bulk bull run could last to 2021
Dry bulk spot markets are verging upon the strongest levels witnessed in a decade, while capesize bulker earnings have soared...
- One dead at Bangladeshi ship-recycling yard
NGO Shipbreaking Platform reports one worker died while helping to cut up a former Evergreen-owned containership
- Red ensign is a symbol of peace and prosperity - not a target
'The red ensign that adorns Britain's ships evokes peace and prosperity. We must protect that reputation,' says the chief executive...
- Iran tells UN that seized Stena Bulk vessel was in a collision
'We can confirm that we are not aware of, and nor is there any evidence of a collision involving Stena...
- Eagle Bulk to purchase six ultramax ships
Major shareholders Oaktree and Golden Tree have agreed to buy $69.1m of Eagle Bulk's $100m convertible notes offering, which will...
- Yard Talk | The rise of state power in shipbuilding
Policy-driven consolidation has made states an increasingly important participant in the market
- Low-sulphur transition target for November, says SSA president
The SSA has appealed for support for information on fuel specifications and available quantities to mitigate disruptions in the shift...
- Viewpoint: Towards the self-parking ship
You can have all the electronics, clever sensors and automatic aids you like, but you will, from time to time...
- Daily Briefing
British flag tankers facing six-figure extra hit on war risk premiums | GasLog halts Hormuz passages | UK-flagged tankers tracked...
- Costamare doubles profits for second quarter of the year
A majority of the shorter spot charters clinched by the company were at sharply higher rates than the vessels were...
- LNG tanker count to surpass VLCCs by 2026, says Clarksons
Some $17bn of newbuilding orders have been placed for LNG tankers since the start of 2018, driven by trade expansion...
- Australia's Prelude FLNG begins first LPG export
The cargo is expected to reach Yeosu on August 1, according to Lloyd's List Intelligence's vessel tracking system
- Vaca Muerta gas field boosts Argentina's LNG export potential
Argentinian LNG liquefaction plants have lower shipping costs to reach Asian markets than US Gulf Coast facilities, presenting an overall...
|JULY 25, 2019|
- Daggett re-elected to third term as head of ILA
- DOT awards $856 million in infrastructure grants
- ODFL speeds past weak US LTL market
- 3PLs: When will US truckload market turn?
- Rotterdam's record run extends into H1 2019
- Enhanced enforcement of ISPM 15 costing US importers millions
- India digital port platform gains users after government push
- Catapult-Xeneta pact out the gate with forwarder win
|JULY 25, 2019|
- Royal Caribbean reflects on Great Recession with 'regret'
Chief executive Richard Fain halted newbuild orders in 2008 in response to the worst recession in several decades.
- Stena Bulk looks to secure release of captive crew
Stena Bulk is in direct talks with Iranian authorities as it looks to free the crew of the Stena Impero, held captive since Friday. The Iranian Revolutionary Guard seized the 49,638-dwt MR2 tanker (built 2018) while it was sailing international waters in the Strait of Hormuz at the hands of 23 seamen. "Stena Bulk and Northern Marine Management continue to hold dialogue with all the governments
- China's ship financing machine is still going strong under the radar
Although big lease financing deals have faded from the headlines, transactions are being done
- China Minsheng Trust expects 'quiet year' after one-off sale
The formerly aggressive buyer is taking a pause to study the market after boss' departure
- Eagle to scoop Nautical quartet in first sale of scrubber-fitted bulkers
Transaction will see second deal of the year between public dry cargo shipowner and private equity seller
- GasLog Partners sees quarterly profit drop by one third
The partnership managed to beat the analysts' earnings target by just $0.01 during an underwhelming quarter.
- Twin upgrade for shipowners as Wells Fargo ends time on sidelines of LPG market
Rising US exports have convinced Wells Fargo Securities to end a near half decade on the sidelines of the LPG market and upgrade stock in VLGC giant Dorian LPG and Navigator Holdings. Avance Gas eyes Fredriksen-driven fleet growth and a possible US listing Hadjipateras hopeful of VLGC recovery as rates reach three-year highs Analyst Mike Webber raised both of the New York-listed shipowners fr
- Kirby lowers 2019 outlook, posts higher third-quarter profit
Kirby Corp has tempered forecasts for the rest of this year as it expects less demand for pressure pumping equipment and maintenance work for various sectors, including oil drilling. The Houston US Jones Act shipowner has lowered its full-year guidance to $2.80 from $3.20 per share but remains "positive" toward the longterm. Kirby sues K Line over spill in Houston Ship Channel "Although the low
- MOL LNG carrier sets Arctic transit record
Novatek says Vladimir Rusanov transited ice-covered part of Northern Sea Route in six days.
- Electromagnetic Geoservices contract wins help cut loss
A big boost in revenue has helped Electromagnetic Geoservices (EMGS) cut its loss for the second quarter 2019. Equinor and EMGS sign lucrative North Sea data deal The offshore survey company saw its loss shrink to $2.0m during the past quarter from $6.2m this time last year. Revenue for the period totalled $14.5m - almost double the level seen at this point last year - thanks to $9.3m booked in
- Royal Caribbean 'elated' with results, beats Wall Street's take
Richard Fain-led cruise major sees 10.5% upswing in profit on improved revenue.
- UK commits to escorting ships through Hormuz
Vessels will be protected individually or in groups, ministry of defence says.
- New PB Tankers boss fights to untie hands to free arrested ships
Italian tanker owner working to implement a restructuring plan
- Gordon Dadds secures price cut on Ince & Co deal
The pricetag for Ince & Co's takeover has shrunk again by around £6m, according to a Gordon Dadds report.
- Judge orders Petrobras to refuel Iranian bulkers
Supreme Court president Dias Toffoli rules that two vessels must be bunkered by Petrobras.
- Major investors Oaktree and GoldenTree provide $70m lift to Eagle Bulk offering
Eagle Bulk Shipping's two largest shareholders are injecting almost $70m into a notes offering which will support a six-ship ultramax swoop. Eagle Bulk Shipping in six-strong ultramax swoop backed by notes issue Eagle Bulk Shipping sells supramax as liquidity returns to S&P market Oaktree Capital Management and GoldenTree Asset Management are both putting cash into the new convertible, the ship
- NYK goes cashless with new crew app
Japanese owner teams with Accenture, Citi and TDG for new venture.
- Hyundai Heavy posts strong quarterly numbers under new guise
Hyundai Heavy Industries has banked stronger than forecast earnings in its first quarter under a new umbrella. HHI seeks Chinese okay for mega-merger Politics, price and succession shape Hyundai Heavy and Daewoo mega-merger The Seoul-listed company today wheeled out a second quarter profit under the new name of Korea Shipbuilding & Offshore Engineering, which reflects its pending merger with DS
- Iran: Grace 1 to be released 'soon'
National security committee head says legal and diplomatic efforts have begun to free VLCC.
- Star Bulk fleet sale nets Delphin quick buck it cannot yet cash in
Private New York owner is already $15m up on May deal, but has to hold on to shares for a while
- Panamax rates surge to year high as scrubber retrofits boost demand
CMB ship takes classic boxship charter market to new level as scrapping also cuts into supply
- MMA Offshore seals $13m subsea takeover
Australian OSV owner buys compatriot Neptune Marine Services.
- Hapag-Lloyd eyes opportunities as Hamburg opens up
Biggest boxships will be able to berth as $868m dredging project begins.
- Contact made with Turkish crew's captors
Shipowner Kadioglu Maritime continuing attempts to free 10 men from Paksoy-1 in Nigeria.
- Fujairah troubles send bunker prices soaring in Singapore
Prompt delivery of bunkers comes at a premium in Asia's busiest bunkering port
- Crew safety must come first amid UK-Iran tanker standoff
Middle East Gulf may become a no-go zone for operators of vessels with British interests because the government has too much on its plate and too few resources to offer protection
- Japan P&I Club buoyed by investment income to post profit
Positive news from the last P&I mutual to post earnings for 2018 as it announces a small gain despite tough market
- Kristian Jebsens Rederi logs loss but has positive outlook
Losses in 2018 sent Norwegian shipowner Kristian Jebsens Rederi into negative equity, according to a newly released annual report. The privately-owned, Bergen-based company logged a pre-tax loss of NOK 17m ($2m) last year, against a NOK 15m loss in 2017. Jebsens poised to sell last two owned vessels The result means Jebsens had a negative book equity of NOK 16m at the end of 2018. Controlling
- Subsea 7 launches $200m buyback
Repurchase launched as company says cable-laying demand to increase in double digits.
- Deutsche Bank provisions rise as loss hits $3.45bn
Restructuring charges wipe €3.4bn off the bank's bottom line.
- Hyundai Glovis trims tanker and bulker fleets as profit surges
South Korean car carrier operator also in line to win fresh business shipping car kits to India
- Brazil caught in standoff between US and Iran
Bunker dispute could potentially damage a long-standing commercial relationship
- Trade tensions continue to weigh on HPH Trust results
Terminal operator expects US bound cargo volumes to remain volatile in second half of 2019
|JULY 25, 2019|
- Representing the whole spectrum of ports
Chris Connor, the new president and CEO of the American Association of Port Authorities, is enthusiastic about advocating for the varied needs of its members.
- Tanker rates adrift as Iran tensions simmer
Rates are not as volatile as one might expect - at least not yet.
- Bill to revive US shipbuilding, shipping
Legislators have reintroduced federal legislation aimed at reinvigorating U.S. shipyards and merchant marine.
- Commentary: Tariff war dramatically changing US supply chains
Producers of U.S. agriculture and forest products for Asian markets are not only witnessing changes to container shipping volumes but also vessel routings.
- E-comm keeps CBP leaders awake at night
Customs and Border Protection will ramp up technology to give the agency's frontline officers better insight into which small package imports to target.
- House Dem optimistic on USMCA passage
Fall has been cited by some as a realistic timeline for the NAFTA reboot to advance through Congress.
- New CBP scanning equipment 'game changer'
Nonintrusive cargo inspections will allow a look inside 50 trucks an hour instead of seven.
- Port of Mobile lands reefer warehouse
- Hiring of ag specialists clears committee
|JULY 25, 2019|
- Alberta producers push government to approve incremental crude-by-rail scheme
Canadian upstream producers are working with the Alberta provincial government on an agreement to allow for production beyond individual curtailment quotas if the output is matched by incremental crude-by-rail volumes.
- FUTURES 5: RBOB jumps as lower imports stoke supply concerns
RBOB futures led the oil complex higher Thursday amid US Atlantic coast gasoline supply concerns.
- CRUDE MOC: Sour crude spreads move up amid tightening fuel oil supply
Premiums for September cash Dubai and September cash Oman rose sharply day on day with tightening fuel oil supplies ahead of IMO 2020.
- FUTURES: Crude rises on EIA data, geopolitical tensions
The draw was concentrated in the US Gulf Coast, and was mainly due to a normalization of operations in the wake of Hurricane Barry.
- Japan's JXTG seeks around 8% Jul-Sep HSFO price cut on lower oil price
The stronger Japanese yen against the US dollar had also prompted the cut in HSFO prices over the July-September.
- Rare crude fixture reported on Norway-India route: sources
"Brazos looks like volumes destined for PES that end up going to India," a trader speculated.
- Fuel oil blending demand continues to support Australian heavy crudes
Japan's Inpex was heard to have sold a September-loading Van Gogh crude cargo to a Western trading house at a premium of around $13/b to Platts Dated Brent.
- INTERVIEW: Oman expects to discover more gas amid $20 bil of projects with Shell, Total
"LNG bunkering, it will be a longish buildup because it is a new concept in the world of shipping."
- ANALYSIS: North Asian bunker markets revel, then reel on Singapore's tight fuel oil supply
"Singapore prices have been very high this month, so some demand has shifted over," a trader said.
- North Asian refiners increase fuel oil supply on higher crack spread
"I am sure refiners are increasing fuel oil supply with the current crack spread," a trade source said.
- Looming refinery maintenance threatens WAF, N Sea arbitrage east: trade
Since Friday, at least 10 vessels -- one Suezmax and the rest VLCCs -- have been put on subjects to load crude in West Africa.
- LNG Shipping Weekly: Pacific and Atlantic shipping and ballast rates steady
In the Atlantic, three to four modern tankers were heard available for loading until early-September.