|JULY 31, 2019|
- Top 100 ports show stable growth in 2018 handling 616m TEU
- China's export container shipping index rises 0.9pc in week of July 26
- UK deploys warship to escort commercial shipping in Strait of Hormuz
- LNG bunkering could ease demand for low sulphur marine fuel
- Box shipping to emerge 'unscathed' in push for de-carbonisation
- US rail freight volumes continue to fall, down 3.4pc in H1
- ICTSI Manila adds new quay crane, 8 rubber-tyred gantries to equipment fleet
- Ryanair's boss criticises Boeing over Max jet delays
- Swissport set to refinance US$1.8b debt as preliminary results are announced
- Atlas Air expands operations in Kentucky
|JULY 30, 2019|
- Container shipping industry looks ahead to an increasingly digitised future
- Dry Bulk market trends
- Gujarat Maritime University commences first academic year
- IRClass inks RO agreement with Cyprus
- Finance Ministry imposes anti-dumping duty on imports of PTA
- Essar Bulk Terminal at Hazira sees significant surge in Q1 third-party business
- PSA inks MoU for Artificial Intelligence & Internet of Things development
- Bidding guidelines for wind power projects amended
- EU mulls increasing retaliatory tariffs on US goods
|JULY 30, 2019|
- Grace period needed after new year IMO 2020 deadline, call
- Lufthansa Cargo shuffles freighter fleet as weak market hits H1 results
- Atlas Air to expand operations at booming Kentucky airport
- Traditional freight forwarders the 'true architects' of transport
- Cogoport expands services to reefer shipping for Indian perishables
- US labour union president charged with accepting bribes
- Eric Born to stay as Swissport CEO for another year
- On the wires: Xpediator's profit warning makes it vulnerable, stock hammered
- Supply chain radar: 'The emperor unclothed' - comparing the wardrobes of CH Robinson, DSV & XPO
|JULY 30, 2019|
- MARAD announces nine Marine Highway project designations
The U.S. Department of Transportation's Maritime Administration (MARAD) today announced the designation of nine Marine Highway Projects and a Marine Highway Route that, together, will benefit Connecticut, Florida, Michigan, New York, Oregon,
- Shipping industry comments on proposed Panama Canal toll hikes
The Panama Canal Authority (ACP) is conducting a public consultation on a proposal to adjust the Panama Canal tolls for containerships, vehicle carriers, dry bulk carriers, tankers, chemical carriers, LPG and LNG
- Pod problems force Royal Caribbean to make multiple itinerary changes
Royal Caribbean is having to change more than 30 itineraries involving several ships due to propulsion problems affecting Allure of the Seas. Here's what the cruise line said in an email sent
- KOTUG opts for Fleet Xpress for tugs supporting Shell Prelude
Trials of Inmarsat Fleet Xpress off Western Australia have persuaded global tug operator KOTUG International to select the high-speed broadband solution for this area of the Asia Pacific region. Following Inmarsat Fleet
- Huntington Ingalls pays $159,000 to resolve discrimination case
Huntington Ingalls Industries Inc. has agreed to pay $159,050 in back wages and interest to resolve alleged systemic hiring discrimination violations found in a routine compliance evaluation by the U.S. Department of
- Seacat orders second Chartwell 24 offshore wind support vessel
U.K. offshore energy support vessel (OESV) operator, Seacat Services, has taken up its option to build a second Chartwell 24 catamaran for the offshore wind sector. Construction of the vessel, to be
- Twin tankers pass methanol milestone
Swedish ship management company Marinvest reports that its Mari Jone and Mari Boyle, two of the first vessels powered by dual-fuel ME-LGIM (-Liquid Gas Injection Methanol) engines have each passed 10,000 operating
|JULY 30, 2019|
- Time to avoid a shambolic Brexit is running out
Ripping up the past 46 years of a country's trading arrangements is no small matter, and the way the government...
- Navios reverts to boxship purchase option
The Nasdaq-listed company cools on a deal to acquire a second new panamax containership this year against a background of...
- Eagle Bulk targets further vessel sales
"It is strategic to modernise our fleet and keep the age down," says Eagle Bulk's chief executive Gary Vogel
- Diana improves revenue despite shedding five ships
The Greece-based owner posted a net loss of $1.3m for the second quarter of the year, but achieved higher average...
- Digitalisation not about replacing human crews
The digitalisation of shipping should be used to assist crews rather than replace them
- BA and Marriott penalties highlight rising cyber crime risk
As British Airways and Marriott International recently demonstrated, fines for cyber breaches can be eyewatering. Best not to go there...
- Why is shipping so slow to digitalise?
Shipping leaders understand that digitalisation is important, but obstacles still stand in the way of full-scale roll-outs
- Tufton Oceanic Assets tops 13% yield
The company is also upbeat for shipping's prospects, with feedership rates stabilising and a recovery in Brazilian iron ore output...
- Zeamarine picks up project for BHP Australia mining complex
The project involves transporting about 450,000 freight tonnes from China to Port Hedland, Western Australia
- Castor Maritime doubles fleet with panamax buy
The move doubles Castor's fleet that until now had comprised a single bulker, the panamax Magic P
- Sembmarine heads for LNG carrier repair record
The yard group is on track to redeliver 46 LNG tankers in 2019, up from 41 during the previous year
- Singapore yards on road to recovery despite tougher climate
Keppel O&M eked out a small profit, while Sembmarine slipped into the red, but beyond such superficial differences the two...
- OOCL revenues and volumes up despite slowing transpacific trade
Strong showing on Atlantic and rising intra-Asia rates help OOCL keep head above water
- SGX will discontinue LNG pricing index
SGX, which also owns the Baltic Exchange, has created several LNG freight shipping indices
- Daily Briefing
War risk market drops higher pricing for UK-flag tankers | Iran-China crude flows up, along with opaque practice | The...
- Woodside ups preparations at Scarborough gas
The proposed Scarborough gas development, which will pump 4m to 5m tonnes of LNG per annum via the Pluto complex...
- Oakland's maritime community is being ignored by city government
The city council recently dithered for hours before even considering to hear the concerns of executives and dockworkers who had...
- EIA: lower transport costs, narrow price spread will make Europe the 'preferred destination' for US LNG exports
US LNG exports to Europe have outpaced exports destined for Asia so far this year
- Chicago mayor rejects bid by Savage Services to run city's port
The mayor wants to capitalise on the potential growth of the port, already a major intermodal hub, as new developments...
- Eagle Bulk sees second quarter of the year net loss due to weak rates
Company realised a $6m net loss with average rates down 15% year on year
|JULY 30, 2019|
- One-third of LA-LB truck appointment slots unused: study
- All-electric, hybrid ships not ready for long haul
- MSC: Shippers need to prioritize carriers that cut emissions
- Financer fights to preserve LA port dray-off project
- Project cargo needs tech to better establish trust
- UK business: Brexit deadline to wreak havoc on holiday shipping
- 'Booming' logistics M&A shows no signs of slowing
|JULY 30, 2019|
- Chevron issues charter tender for VLGC newbuilding duo
Energy major emerges in the market for repeat business on large gas carriers
- Boxship charter rates could rise to cover IMO 2020 costs
Some operators seem particularly exposed as shipowners look to recoup investment
- FMSI scrubber sales are going against the flow
Indonesia and Singapore-based firm says it is busy ahead of IMO 2020 deadline but still has capacity to fulfill 2019 deliveries
- US continues to push shipping on AIS activation
No reason other than piracy for ships to turn off satellite tracking, official says
- After worker death, Evergreen defends shipbreaker Kabir
Evergreen Line is defending its dealings with Bangladeshi shipbreaker Kabir Steel after a worker death last week. On 24 July, a cutter identified as Shahidul fell from a "great height" and died at Kabir's yard in Chittagong while taking apart the 5364-teu Ever Union (built 1997), formerly owned by Evergreen. Worker killed at Bangladesh shipbreaker Tuesday, the Taiwanese liner operator said it
- Cosco tanker unit sees emissions surge by one third in 2018
Cosco Shipping Energy Transportation, whose green credentials questioned by CDP, reports huge hikes in greenhouse gas emissions amid fleet expansion
- New life breathed into Leviathan FLNG plan
Golar LNG and Exmar signed up to compete in design contest for new LNG floater
- Newcomer GriegMaas boosts fleet with Celsius Shipping vessel
GriegMaas, the new bulker venture backed by Norway's Grieg Star, appears set to expand its fleet with a fourth Chinese built ultramax. Grieg Star and Maas Capital form bulker joint venture Young people predicted to change shipping's approach to diversity and the environment European brokers say the venture has bought the 63,000-dwt GH Rough Habit (built 2012) from Celsius Shipping of Denmark fo
- Top Eagle Bulk investor Oaktree grows stake with $7m stock purchase
Eagle Bulk Shipping's lead investor Oaktree Capital has bolstered its interest in the Nasdaq-listed bulker owner. The purchase has come to light just days after Oaktree invested $45.5m in a convertible notes offering launched by Eagle to fund the purchase of six vessels. Los Angeles-based Oaktree has bought 1.94 million shares, bringing its total unit count to 28.2 million, according to an SEC
- Diana Shipping posts second quarter loss following vessel sales
Owner's fleet has shrunk following its divestment of older tonnage
- BW Group sells $2m slice of Dorian LPG as it continues retreat
Andreas Sohmen-Pao's BW Group has sold another slither of shares in former takeover target Dorian LPG. LPG and tanker stocks race ahead of S&P 500 as recovery unfolds LPG owners don't expect new ships despite rising rates The Singaporean shipowner has offloaded stock worth around $2m in the latest sales, SEC filings show. BW Group began selling Dorian shares this summer as it started a retreat
- Ugland managed bulker brace picked up by Greek shipowner
Two Isle of Man controlled supramax bulkers are reported sold enbloc to a Greek buyer. The Hyundai Vinashin built 55,000-dwt Sheffield (built 2010) and Peterborough (built 2009) are changing hands for $21m in total, sources say. LT Ugland rebrands as MX Bulk Management VesselsValue says the ships are controlled by Isle of Man based Linur group. The ships are among a fleet of seven bulkers man
- Avin International tied to purchase of Formosa Plastics tanker
Greek owner Avin International is expanding its fleet with the acquisition of a nine-year-old MR tanker from Formosa Plastics, brokers say. Avin joins march of the makers with HHI suezmax order Enesel adds to crude tanker drive with suezmax duo at Samsung Heavy Industries The 50,000-dwt FPMC 23 (built 2010) has been picked up for a price in the low $15ms, US brokers report. VesselsValue says t
- Navios Maritime Containers rings up seven-ship refinancing deal
Angeliki Frangou's Navios Maritime Containers has refinanced debt on seven of its vessels and switched out a purchase obligation on another ship. New York-listed Navios Containers revealed the changes as it reported a small second quarter profit today. Navios Maritime Containers names new finance chief after Christopoulos quits Navios Containers refinances as profit dwindles It explained the
- TradeWinds survey: final call to have your say on environmental regulations
Our industry survey on shipping's answers to climate change will close on 2 August.
- Dae Sun marks gas sector debut with order for small gas carrier
South Korean owner orders replacement for 18-year-old, GS Caltex-chartered vessel
- Euronav VLCC period deal shows underlying confidence in market
Despite spot weakness, the world's largest crude shipping firm has reportedly time chartered out an eco-VLCC for a year at $37,500 per day
- OOIL mulls investment options with $1.29bn Long Beach purse pending
Liner giant Orient Overseas (International) Limited (OOIL) is likely to have over $1bn to fund fleet growth as it moves closer to the long-awaited sale of its Long Beach Container Terminal. OOIL pockets $1.78bn for Long Beach terminal to clear path for Cosco deal AP Moller-Maersk heads into uncharted waters as historic shift in strategy unfolds Hong Kong-listed OOIL struck as $1.78bn deal wit
- Dof bondholders convert $2.4m into shares
Dof's bondholders have converted notes worth NOK 21m ($2.4m) into the company's shares. Dof warns of loan defaults and covenant breaches A total of 2.1 million new shares have been issued at a conversion price of NOK 10.00 per share, which has raised Dof's share capital by NOK 10.5m. As a result, the Oslo-listed company's market capitalisation has been raised to NOK 1.5bn, divided into 300,887,
- Narrowing NAV gap could herald pick-up in shipping investment
Improving trend for dry bulk and tanker companies is expected to trigger more activity in US capital markets
- Equipment delays to hit SeaBird Exploration's bottom line
Two of SeaBird Exploration's vessels are running around two months behind schedule due to equipment delays, which is expected to hurt the company's bottom line. SeaBird presses private placement to fund swoop for Boa SBL brace The delays concern a niche 3D survey in West Africa and a 2D survey survey in the Americas, for which deals were awarded in April and January respectively. Both contracts
- Morten Arntzen's Team Tankers linked to sale of fourth ship in 2019
Morten Arntzen chaired Tankers Tankers is being linked with its fourth tanker sale this year. Key shipping players party onboard the Christian Radich Banks: Scrubber financing is 'very risky' Brokers say the company has sold the 46,700-dwt Team Tarantella (built 2002). A price in excess of $8m is being placed on the Brodotrogir-built vessel. Team has yet to respond to requests for comment
- Zeamarine inks largest contract to date
Zeamarine has inked its largest contract to date with the business set to employ its latest newbuildings. The contract with Schenker Australia will see the Zeaborn unit carry 450,000 freight tons from China to Western Australia. BHP revs up $400m climate change plan as part of 'zero emissions' goal Its ZEA-type 14,900-dwt newbuildings will undertake the work, with Zeamarine chief commercial off
- Trafigura takes in two Greek-owned tankers on short time charters
Two Greek shipowners have locked suezmax tankers into short period contracts with trader Trafigura, brokers say. Trafigura calls time on third-party deals Charters behind double VLCC strike by SK Shipping emerge as price focus intensifies Trafigura in talks with Hyundai Heavy for LPG-fuelled VLGC duo Adam Polemis company New Shipping and Stamatis Molaris-backed Alma Maritime have inked deals w
- Stena Bulk raises concern for tanker crew as BP avoids Strait of Hormuz
Stena Bulk has raised concerns about the health of the seafarers on board a tanker captured by Iran at a time when oil major BP has confirmed it is avoiding the Strait of Hormuz trouble-spot. Middle East Gulf tension having 'fairly muted' impact on tanker markets Stena Bulk: Company access to Stena Impero 'imperative' British warship thwarts Iranian bid to seize BP tanker Iranian forces abse
- Castor Maritime splashes the cash on veteran panamax
Petros Panagiotidis-led owner set to double the size of its fleet with Korean-built bulker
- Sembcorp Marine posts loss, but worse to come in second half
Problems at Singapore repair and conversion group compounded by a lack of new orders
- Intra-regional feeder boxships face IMO 2020 fallout
Smaller, older ships set to suffer after 1 January as regional shippers will struggle to pass on costs to customers
|JULY 30, 2019|
- Senators express concern over USMCA de minimis footnote
A small business exporter highlighted the benefits she has reaped from de minimis exemptions during a Senate Finance Committee hearing Tuesday.
- Pushback on Panama Canal toll hike timing
Three groups representing 90% of shipowners say a Jan. 1 toll hike would coincide with the IMO's low-sulfur mandate.
- Will bet on dry bulk recovery pay off?
On the same day that Eagle Bulk reported a Q2 net loss, it successfully closed on the sale of $114.1 million in convertible bonds, with proceeds earmarked for the purchase of six modern-built bulkers.
- Senators lay out $287 billion highway bill
"The bill cuts Washington red tape so road construction can get done faster, better, cheaper and smarter," says Wyoming Republican John Barrasso.
- Trump's unified agenda puts license exception for civil end users on chopping block
The Commerce Department has proposed to end this license exception as part of meeting the Trump administration's federal government-wide goal to reduce regulations.
- Asia Pacific air cargo markets weaken
- DB Schenker adding online freight quotes
- K+N acquires Canadian seafood exporter
|JULY 30, 2019|
- External: Global Risk Management
- REFINERY NEWS: China's Wepec cuts Aug gasoline, gasoil exports by 22% on month
The supply of gasoil and gasoline in the local market is a bit tight due to the refinery maintenance under PetroChina.
- Rare heavy naphtha cargo set to sail north as China draws a surprise interest
Kerteh's naphtha grade could have been sought after for either its gasoline-blending properties or related aromatics production.
- Intercontinental Exchange launches more marine fuel contracts ahead of IMO 2020
These new contracts include marine fuel mini-contracts to help shipping companies looking for smaller-size contracts to manage their risks, Barbuto said.
- Singapore ex-wharf 380 CST Aug bunker term prices jump on tight supply
"There is not really a lot of done deals [for August term] as not many people dare to buy at such levels [of high twenties over MOPS]," a bunker supplier said.
- Qatar delivers first Q-Max to Belgium's Zeebrugge LNG terminal
The shipment on vessel Al Dafna was made on July 22, marking the first discharge of a Q-Max LNG vessel at the terminal, it said.
- Singapore fuel oil premiums hit all-time high over European prices on tight availability
The supply constraint for HSFO cargoes in Singapore boosted arbitrage economics for deliveries to Asia from Europe and Russia
- US sanctions have caused 95% decline in Iran oil exports: Pompeo
"We are committed to keeping the Strait of Hormuz open and secure," Pompeo said.