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Tuesday, March 26, 2019

U.S. Clinches Port Deal with Oman

Tehran has in the past threatened to block the Strait of Hormuz, a major oil shipping route at the mouth of the Gulf, in retaliation for any hostile U.S. action, including attempts to halt Iranian oil exports through sanctions.Still, the U.S. official noted that the agreement would expand U.S. military options in the region for any kind of crisis.Duqm is ideal port for large ships. It is even big enough to turn around an aircraft carrier, a second official said."The port itself is very attractive and the geostrategic location is very attractive…

file Image: CREDIT Hapag Lloyd

Hapag-Lloyd: Sees Strong 2019 Earnings

German container liner Hapag-Lloyd sees itself on a promising course to achieve better results and further reduce debts as it cuts costs, benefits from merger synergies and finds itself in an improving shipping industry environment."We see fairly stable demand growth and the fundamentals are favorable," said Chief Executive Rolf Habben Jansen in a call with analysts on Friday."This will enable us to deliver on our goals for 2019," he added.Earlier, the company had reported an increase in operating profit before interest and tax (EBIT) of 7.8 percent to 443 million euros ($500.37 million) in 20

Acontainership delivers cargo at the port of Savannah, GA (CREDIT: GPA)

Trump: China Trade Deal to Probably Happen

U.S. President Donald Trump said trade negotiations with China were progressing and a final agreement "will probably happen," adding that his call for tariffs to remain on Chinese imported goods for some time did not mean talks were in trouble.Trump, in a television interview aired on Friday, also said he expected to keep a 25 percent tariff on the European automobile sector amid separate ongoing trade talks with the European Union."Our deal is coming along very well. We'll see what happens," Trump told Fox Business Network. "I think the deal will probably happen.

Lena River. Pic: Dynagas LNG Partners

Dynagas Vessel Employment Almost Full

Monaco-headquarters Dynagas LNG Partners said that it had estimated contracted time charter coverage for 98% of its fleet estimated available days for 2019, 100% of its fleet estimated Available Days for 2020 and 92% of its fleet estimated Available Days for 2021.As of March 21, 2019, the Partnership’s contracted revenue backlog estimate  was $1.38 billion, with an average remaining contract term of 9.5 years, the Liquefied Natural Gas (LNG) maritime transportation company said.

Macquarie to Sell Gdansk Box Terminal

A consortium of investors including Poland's sovereign wealth fund PFR has agreed to buy the country's largest container terminal in Gdansk from the infrastructure fund of Australia's Macquarie in a deal worth more than 5 billion zlotys ($1.32 billion), the companies said on Tuesday.The container terminal had a capacity of 1.9 million Twenty-Foot Equivalent Units (TEUs) in 2018.Macquarie launched a sale of the terminal, which sources said in December could be valued at around 1.5 billion euros ($1.7 billion), last year with the help of Goldman Sachs.Reporting by Alan Charlish

Pic: Global Ship Lease

GSL Extends Hapag-Lloyd Charter

Marshall Islands-incorporated  containership charter owner Global Ship Lease (GSL) has agreed a three-year charter with Hapag-Lloyd for the 2015-built, 9,115 TEU containership UASC Al Khor.The new charter is in direct continuation of the current charter and is expected to commence in June, 2019, with re-delivery in the second quarter 2022, said the owner of containerships with a diversified fleet of mid-sized and smaller containerships.The charter is expected to generate approximately $28 million of Adjusted EBITDA.Ian Webber…

Pic: Tsakos Energy Navigation

TEN Charters for Two LNG Vessels

Greek shipping company Tsakos Energy Navigation (TEN) announced new charters for two LNG carriers, the Neo Energy and the Maria Energy to significant international energy concerns for an aggregate period of 36 months. The total gross revenues from these two fixtures, over the duration of the respective contacts, is expected at about $60 million, said the provider of seaborne crude oil and petroleum product transportation services worldwide.“LNG is on top of the agenda for TEN’s diversified energy fleet.

File Image / CREDIT: AdobeStock / © Kasto

McQuilling ends tanker contracts with PDVSA

A second maritime firm has told Venezuela's state-run oil firm Petroleos de Venezuela it would end all charter contracts with the company as a result of U.S. sanctions, according to an internal document and a person familiar with the matter.U.S.-based McQuilling Partners Inc, which provided PDVSA with four contract tankers, joined German tanker operator Bernhard Schulte Shipmanagement (BSM) in withdrawing from providing oil-shipping services to Venezuela.The United States levied…

Pic: Tankerska Next Generation Inc.

TNG Secures Work for MR2 Vessel

Croatian shipping company Tankerska Next Generation (TNG) has fixed out another of its MR tankers on a period charter.The conventional ice class product tanker MT Velebit  has secured one year contracted employment with immediate effect, it said in a press release.The tanker will be chartered out to a prominent charterer at approximately USD 14,500 per day with usual market terms.Additionally, the charterer has an option to extend the contract for an additional eight months at approximately USD 15…

file Image: an idled PDVSA tanker (CREDIT: MarineTraffic.com / © Leslie Brug

BSM: PDVSA Tanker Management Likely Ending

Maritime contractor Bernhard Schulte Shipmanagement (BSM) is considering to stop managing Venezuelan state-oil company PDVSA's tankers by the end of this month or in April following U.S. sanctions against the country, BSM said on Thursday.It also said in a statement that recent political developments made managing assets for the Venezuelan government "an almost impossible task", and it was working on returning Venezuelan vessels to PDVSA's maritime arm PDV Marina and its subsidiaries.The German firm…

Photo: Roll Group

Roll Group Transports Ethane Cracker Modules

Roll Group has been awarded a contract to transport 24 modules for the Total Ethane cracker project in the USA. The transport will cover seven single voyages, using both RollDock and BigRoll vessels. The services and expertise of Roll-Lift will also play a part in the completion of the land transport aspects of the project.The first voyage is scheduled within the next two weeks. The other transports will be undertaken between April and August 2019. The modules are currently in the process of building in Hamriyah (UAE).

File Image: AdobeStock / © Sunny

U.S. Democrats Initially Cool to New NAFTA

Democrats in the U.S. House of Representatives gave a cool reception to the replacement for the North American Free Trade Agreement on Wednesday as the top U.S. trade negotiator opened a campaign to win broad support for the accord in Congress.Several Democrats said a closed-door meeting between United States Trade Representative Robert Lighthizer and their caucus failed to ease their concerns about the new U.S.-Mexico-Canada Agreement's (USMCA) provisions on labor, biologic drugs and some other issues.A USTR spokeswoman declined to comment on the meeting.The support of Democrats…

File Image: CREDIT CMA CGM

CMA CGM to Form JV with Ethiopia's MACCFA

French shipping company CMA CGM has signed a letter of intent to form a new joint venture with Ethiopian company MACCFA and to manage Ethiopia's Modjo port, according to a document made available by the French President's Elysee department.Marseille-based CMA CGM, one of the world's largest container shipping lines, recently became the core shareholder in Ceva Logistics, with the company looking to expand in non-maritime freight services.Reporting by John Irish

File Image: CREDIT GPA

Fitch: Port Growth to Level Off

Volume growth will continue for ports throughout the world but at a more modest pace over the next 10 years, according to Fitch Ratings in a new report. Global port throughput has shown resilience over the last 10 years with throughput growth outpacing economic growth rates despite volatility through the last recession. Containerization of cargo and increasing vessel sizes coupled with supporting infrastructure at ports have all contributed to these throughput trends. However…

Scorpio Bulkers: $48 Mln Sale of Two Kamsarmax Vessels

Scorpio Bulkers announced that the company has entered into agreements to sell two Kamsarmax vessels for $48 million and provided an update to Time Charter Equivalent (“TCE”) rates for the first quarter of 2019.Vessel SalesThe company has entered into agreements with unaffiliated third parties to sell the SBI Electra and SBI Flamenco, two 2015 Chinese built Kamsarmax vessels (the “Vessels”), for approximately $48 million in aggregate. Delivery of the Vessels is estimated to take place in the second quarter of 2019.

A refinery in the port of rotterdam (File image / CREDIT: Exxon)

Rotterdam Port Prepares for Brexit Gridlock

Emergency overflow parking spaces for up to 700 trucks have been created near Rotterdam port, Europe's largest, in anticipation of backups caused by Britain's departure from the European Union.Authorities in the Netherlands said on Monday they expect around 400 trucks per day destined for Britain will arrive at the harbour without proper customs paperwork after the March 29 Brexit day.Five overflow areas have been designated where trucks can park and drivers can file the proper…

File image: credit OPDR

Blackstone Invests in Terminal Operator Carrix

U.S. investment firm Blackstone Group LP said on Sunday that funds affiliated with Blackstone Infrastructure Partners invested in Carrix Inc, the largest marine terminal operator in the United States and the Americas.The company did not disclose the terms of the transaction.Carrix is the parent of SSA Marine and its related affiliates with operations at over 250 port and rail locations worldwide, including 16 container terminals in Long Beach and Oakland in California, Seattle and Tacoma in Washington…

File Image: CREDIT AdobeStock / © Nightman 1965

Imports at Annual Low on Seasonal Lull, Tariff Worries

With the retail industry in its annual lull between seasons and plans for a tariff increase on hold, imports at the nation’s major retail container ports are expected to drop to their lowest level in almost a year this month, according to the monthly Global Port Tracker report released today by the National Retail Federation and Hackett Associates.“Now that the holiday season is over and summer has yet to crank up, this is the quiet time of year for retail supply chains,” NRF Vice President for Supply Chain and Customs Policy Jonathan Gold said.

​MacGregor wins $24 mln in Orders

MacGregor, part of Cargotec, has secured orders to provide port, cruise access and equipment for RoRo/Passenger (RoPax) ferries from Europe and China. The total order value is approximately $24.7 mln. The orders were booked into Cargotec's first quarter 2019 order intake, with the delivery of the MacGregor equipment planned to start during the first quarter 2020 and completed during the second quarter 2024.

China Diplomat: Real Progress for China-U.S. Trade talks

The Chinese government's top diplomat, State Councillor Wang Yi, said on Friday that trade talks with the United States had made substantive progress, and that the two countries' relations should not descend into confrontation.Speaking at a news conference on the sidelines of China's annual meeting of parliament, Wang said China had positive expectations for the future of ties with the United States.Reporting by Ben Blanchard

The Icaro (© Leslie Brug / MarineTraffic.com)

PDVSA Insists it's Still Working with BSM

Venezuela's state-run oil company PDVSA said on Thursday it has not halted business with maritime firm Bernhard Schulte Shipmanagement (BSM), even after the German firm said it would remove the crews that have been operating 10 of 15 PDVSA vessels over unpaid fees and return the tankers.On Tuesday, PDVSA's maritime arm PDV Marina declared an emergency due to lack of staff to immediately receive the 10 vessels BSM proposed to return to Venezuelan ports due to unpaid bills of at…

Pictured here, the ‘Sajir’ whose 9S90ME-C main engine will be converted to a dual-fuel MAN B&W ME-GI unit capable of running on HFO and LNG (Photo courtesy of MAN Energy Solutions)

First Mega-Boxship Retrofit to LNG Ordered

Hapag-Lloyd pilot gas-conversion leads the way for emissions reduction and decarbonizationMAN Energy Solutions has signed a contract for the conversion of a 15,000 TEU container vessel to dual-fuel operation. The container vessel MV SAJIR is owned by Hapag-Lloyd, a leading liner shipping companies, and normally serves a route from Asia to northern Europe via the Suez canal. The pilot project will entail the conversion of an existing, HFO-burning MAN B&W 9S90ME-C engine to a dual-fuel MAN B&W ME-GI (-Gas Injection) prime mover capable of running on HFO and LNG.

Fincantieri, Viking Sign For 2 Ships

In the context of the agreement announced in March 2018 for the construction of 6 ships, Fincantieri and Viking signed the contracts for the first 2 units, which will be delivered respectively in 2024 and 2025.In partnership with the shipowner, Fincantieri will develop an advanced project based on the successful characteristics of the previous ships, upgraded and revisited in line with the latest available technologies. Viking’s current ocean fleet includes ships having exclusively all-veranda staterooms…

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

File Image: AdobeStock / © Redindie

World Shares Higher on US-China Deal Hopes

Global shares rose on Monday amid growing optimism the United States and China will reach a trade agreement as soon as this month.U.S. President Donald Trump and Chinese President Xi Jinping might seal a formal trade deal around March 27, given progress in talks between the two countries, the Wall Street Journal reported on Sunday.The two nations have imposed tit-for-tat tariffs on billions of dollars worth of each others' goods, roiling financial markets, disrupting manufacturing supply chains and shrinking U.S.

Photo: Konecranes

Konecranes Noell Straddle Carriers to Thessaloniki

Konecranes has received an order from the Thessaloniki Port Authority SA for 12 Konecranes Noell Straddle Carriers. The delivery time is exceptionally short. The machines will be ready for acceptance in March 2019. The Thessaloniki Port Authority SA, a privately listed company, is the Concessionaire and Operator of the Port of Thessaloniki, Greece. The Port of Thessaloniki comprises a container terminal and a conventional cargo terminal. This order is part of an ambitious growth program that the Port of Thessaloniki has embarked upon.The straddle carriers on order are of the model NSC 644 E.

File Image: CREDIT Hapag Lloyd

Shipping Recovery Boosts Hapag-Lloyd's Earnings

Full-year operating profit up by 32 percent.Container shipping firm Hapag-Lloyd said volume growth and a modest recovery in freight rates in the second half of 2018 helped push operating profit 32 percent higher, lifting shares in the German group on Monday.Hapag-Lloyd said preliminary earnings showed operating profit before interest and tax (EBIT) rose 32 percent to 443 million euros ($502.81 million) in 2018, while earnings before interest, taxes, depreciation and amortisation (EBITDA) increased 83 percent to 1.138 million euros.

Credit: AdobeStock / © Scanrail

Brent Hits 2019 High on U.S.-China trade Hopes

U.S. crude stocks rise to 454.5 mln barrels as crude exports from U.S. hit record 3.6 mln bpd.Oil prices rose on Friday, supported by OPEC's ongoing supply cuts and hopes that Washington and Beijing may soon end their trade dispute.International Brent crude futures hit a new 2019 high of $67.60 a barrel, up 53 cents from Thursday's close.Further gains were tempered by U.S. crude oil production hitting a record 12 million barrels per day (bpd) and a surge in exports from the country.By 1125 GMT, U.S.

File Image: CREDIT AdobeStock / © Lidian Neeleman

Bunge Posts Q4 Loss as Trade War Hits Soy Prices

Global grains merchant Bunge Ltd reported a fourth-quarter loss on Thursday as fallout from the U.S.-China trade war dragged down soybean prices in Brazil.Shares of the White Plains, New York-based company slumped nearly 4 percent in premarket trading to $50.75 per share.Brazilian soy prices had swelled to a steep premium to U.S. beans after China slapped steep tariffs on shipments from the United States in July. But that premium narrowed after the countries declared a temporary truce in their trade war on Dec.

File Image: CREDIT Maersk

Maersk Shares Fall on Trade War Fears

The world's largest container shipping company, A.P. Moller-Maersk, warned trade headwinds would slow growth this year, sending its shares down 10 percent on Thursday.Maersk is also moving ahead with spinning off Maersk Drilling, announcing it expected its new listing in Copenhagen to begin trading on April 4.Maersk, a bellwether for global trade, warned that growth in the number of containers being moved around the world would deteriorate further this year.It expected global container growth of 1-3 percent in 2019…

File Image: CREDIT P&O

DP World buys back P&O Ferries for $421 mln

DP World has bought back British ferry and shipping freight operator P&O Ferries for 322 million pounds ($421 million), more than a decade after it sold it.DP World acquired the British shipping and logistics company in 2006 but soon sold off some assets, including P&O Ferries to its major shareholder, state holding company Dubai World.DP World announced on Wednesday it was buying the company, and a spokeswoman later told Reuters it had bought it back from Dubai World.Dubai World was at the heart of the emirate’s financial crisis at the turn of the decade and was forced to restructure around $

Image CREDIT: AdobeStock / © Kasto

Hedge Funds Hunt for Shipping Debt

A growing number of hedge funds are moving into shipping debt, an asset class few have invested in before, looking to buy up loans and bonds as banks cut their exposure to the troubled sector.World economy worries and cost pressures are dampening prospects for a proper recovery in many segments of the shipping sector, which has struggled with tough markets for a decade.Meanwhile European banks, particularly German lenders, are trying to offload distressed and performing loans…

file Image: AdobeStock / © Nightman 1965

New Round of U.S.-China Trade Talks Kicks Off Today

A new round of talks between the United States and China to resolve their trade war will take place in Washington on Tuesday, with follow-up sessions at a higher level later in the week, the White House said on Monday.The talks follow a round of negotiations that ended last week in Beijing without a deal but which officials said had generated progress on contentious issues between the two trading partners.The talks are aimed at "achieving needed structural changes in China that affect trade between the United States and China.

File Image: AdobeStock / © Eremeychuk

India's Thermal Coal Imports Could Rise 10 pct in 2019

India's thermal coal imports could rise by about 10 percent in 2019 due to rail transport problems and other logistical bottlenecks, an executive at the country's largest coal trader Adani Enterprises said on Tuesday.Thermal coal imports rose in 2018 after two years of decline, despite moves by Prime Minister Narendra Modi’s government to cut the country's imports in a bid to reduce the trade deficit.Rajendra Singh, chief operating officer for coal trading at Adani Enterprises…

File Image: AdobeStock / © Lucasz Z

Dry Bulk Market Outlook Darkens After Vale Casualty

The prospects of dry bulk shippers carrying iron ore from mines to smelters have worsened due to the accident at Vale's Brumadinho dam in Brazil, Golden Ocean said on Tuesday as it presented forecast-beating quarterly earnings.The dam in the town of Brumadinho, which contained tailings, the mud-like byproducts of iron ore mining, burst on Jan. 25, killing at least 166 people and with almost 200 more still missing.Brazil's Vale, the world's largest iron ore mining company, has…

Stena RoRo acquires Japanese RoPax

Stena RoRo has purchased the ferry Yamato from the Japanese shipping company Hankyu Ferry. The vessel will be rebuilt at a shipyard in Europe and be fully adapted to European standards, after which it will be chartered out. This process will begin in spring 2020 and the ferry is estimated to be in traffic by the summer.“This is a typical Stena RoRo project. Through adaptation and flexibility, we design and rebuild vessels to meet our customers’ specific requirements.

Pic: Tsakos Energy Navigation

TEN Wins TC for Two Tankers

Greek shipping company Tsakos Energy Navigation (TEN) announced the contract for the building of two suezmax crude tankers which upon delivery will enter into minimum five maximum 12-year contracts to a significant oil major.The time charter equivalent revenues from these two fixtures, over the duration of the respective contacts, is expected at a minimum $110 million and could reach $300 million should employment be extended to its maximum period. “We are immensely proud to have…

© Mark Rubens / Adobe Stock

Anadarko Nearing FID for Mozambique LNG

U.S. independent energy producer Anadarko moved closer to a final investment decision (FID) to build a giant liquefied natural gas (LNG) terminal in Mozambique after signing up an Indian buyer for the gas and saying another deal was imminent.Anadarko and Exxon Mobil are expected to sanction two separate but neighboring LNG projects in Mozambique this year after finding large offshore gas deposits, turning the African nation into a major global gas exporter.The company said on…

(L-R) Neil McMaster, GAC Dubai’s General Manager – Contract Logistics, Ronald Lichtenecker, GAC Dubai’s Managing Director, Vadim Motlik, Lagardère Travel Retail’s UAE CEO, and Alex Pardo, Lagardère Travel Retail's Supply Chain Director (Photo: GAC Group)

Global Travel Retail Leader Selects GAC Dubai

Lagardère Travel Retail has appointed GAC Dubai’s Contract Logistics team to handle a range of goods sold at Duty Free retail stores at airports in Saudi Arabia and the future Abu Dhabi Midfield Terminal Complex (MTC).Under the multi-year agreement signed by the two companies commencing March 1st, 2019, GAC Dubai will take care of the port haulage, receipt, storage, pick/pack, transportation, customs clearance and Federal Tax Authority documentation for goods including chocolates, fine foods, fashion, beverages, electronics, cigarettes and cigars, personal care, perfumery and make-up.

Vigor selects Vancouver, Washington site for a state-of-the-art, all-aluminum fabrication facility. Rendering courtesy VIGOR

Shipbuilding: Vigor Picks Expansion Site

West Coast U.S. shipbuilding and repair powerhouse Vigor has selected a Vancouver, Washington site to be the home for its new  all-aluminum fabrication facility.With a nearly billion dollar contract in its hip pocket to build the U.S. Army’s new landing craft over the next 10 years, Vigor is expanding it's shipbuilding operations to a new state-of-the-art aluminum fabrication facility with this project serving as the anchor for production.The facility as formerly the home of Christensen Yachts, deemed by the company as the best location to build the U.S.

Pic: United States Navy

HII to Build Two Carriers for US Navy

The United States Navy awarded Huntington Ingalls Industries’ Newport News Shipbuilding a contract for two aircraft carriers, the first of its kind since the 1980s.A notification from the office of the navy chief of information said that the contract for the construction of CVN 80 and CVN 81 was awarded to Huntington Ingalls Industries-Newport News Shipbuilding (HII-NNS).The contract modification is worth $14.9 billion to cover remaining ship design and construction costs of CVNs…

AdobeStock / © sunnys

Trump: U.S. Will be Able to do Trade Deal with China

U.S. President Donald Trump said on Thursday he thinks the United States will be able to strike a deal with China, as Chinese Vice Premier Liu He visits Washington for trade talks in a bid to ease tensions between the two economies.Reporting by Steve Holland

© zhu difeng / Adobe Stock

ITIC E-learning Vid Highlights Dangers of Switch Bills of Lading

International Transport Intermediaries Club (ITIC) produced an e-learning video for ship agents on the use of ‘switch bills of lading,’ a second sets of bills used as a substitute for the original bills of lading issued at time of shipment.ITIC legal advisor Mark Brattman said, “There are a number of valid reasons why a carrier may be asked by the holder of a bill of lading to issue switch bills. For example, the original bill might name a discharge port which is subsequently changed…

Image: Hurtigruten

TTS Group Bags Hurtigruten Contract

Norway-based TTS Group ASA, a global provider of handling solutions and access systems and services for the marine and offshore industries, has been awarded a contract for sideloading systems for Norway-based expedition cruise operator Hurtigruten.TTS Group has also won a contract for ships equipment to another buyer. Total value of the orders is approximately NOK 38 mln (USD 4.5mln).Hurtigruten, the world’s largest and most sustainable expedition cruise line, is expected to install…

Pic: Diana Shipping

Diana Shipping Fixes with Uniper and Phaethon

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with Uniper Global Commodities SE, Düsseldorf, for one of its Post-Panamax dry bulk vessels, the m/v Amphitrite, for a period of minimum 14 months to maximum 17 months.The global shipping company specializing in the ownership of dry bulk vessels said in a press release that the gross charter rate is US$5,000 per day for the first five (5) days of the charter period and US$12…

A rendering of the Envirocleanse 'in tank' system. CREDIT: Glosten

Envirocleanse inTank BWTS Receives Fleet Sale Commitment

Envirocleanse is billed as the first approved BWTS to treat during voyage: No Filter, No Change to port activities, The highest confidence of compliance with the least impact to vessel operations.Envirocleanse LLC, division of Charter Brokerage LLC, a BERKSHIRE HATHAWAY company has announced a fleet sale commitment from Enterprises Shipping & Trading S.A.both for the bulker and tanker arms. The initial installation will be in the 2nd Quarter of 2019, with an additional 30+ vessels over the following 5 years.Mr.

Image: AdobeStock © Nightman 1965

UK Shipping Lobby: 'Get a grip on Brexit'

British businesses implored politicians on Monday to stop quarrelling over Brexit and agree an orderly exit from the European Union, as some big firms set up emergency situations rooms to cope with the possible tumult of a no-deal divorce.With less than nine weeks until the United Kingdom is due by law to leave the European Union on March 29, there is no agreement yet in London on how and even whether to leave the world's biggest trading bloc.Parliament rejected Prime Minister Theresa May's Withdrawal Agreement…

File Image (CREDIT: CMA CGM)

CMA CGM in Effort to Buy rest of CEVA Logistics Shares

CMA CGM launches 30 Sfr/shr tender offer for CEVA shares; CEVA recommends shareholders decline the offer.ZURICH, Jan 28 (Reuters) - French shipping company CMA CGM on Monday formally launched a cash offer to buy out other shareholders of Ceva Logistics, valuing the Swiss freight forwarder at $1.67 billion as the companies pursue closer ties aimed at fueling growth and savings.CMA CGM, which already controls 50.6 percent of CEVA, and the Swiss company last year began developing a business plan to boost commercial cooperation and complementary services.At the time…

The Wärtsilä Aquarius UV Ballast Water Management System. Image: Wärtsilä Marine

Wärtsilä Bags New Orders for Aquarius UV BWMS

Finnish technology giant in the marine and energy markets Wärtsilä Oyj announced that it has recently been awarded a number of contracts to supply its Aquarius UV Ballast Water Management System (BWMS) to global shipping operators.According to the provider of smart technologies and complete lifecycle solutions, the systems will enable the vessels to be compliant with the Ballast Water Management Convention regulations that entered into force in September 2017 for all new build vessels.The contracts cover in total 13 systems…

File Image: a typical DP World intermodal operation. CREDIT: DP World

DP World to Spend $250 mln Building Australia Stake

Dubai's DP World will spend at least $250 million buying back some shares in its Australian port terminals business which it sold in 2010, a company spokeswoman said on Wednesday.DP World will buy the shares from Corsair Infrastructure Partners' Gateway Infrastructure Investments and other investors, it said in a bourse statement.The Dubai-government controlled company will at least double its stake to 50 percent, valuing DP World Australia at about $1 billion, the spokeswoman said.DP World are taking management control as part of the deal which could see it end up with a majority stake…

Pic: Port of Rotterdam Authority

Rotterdam Port, RPPC Renew Collaboration

The Port of Rotterdam Authority and Rotterdam Port Promotion Council (RPPC) will once again be prolonging their partnership for another four-year term.Port Authority CEO Allard Castelein said: “We have been working together for many years. Time and time again, it becomes clear that one of the most effective ways to promote the port of Rotterdam for RPPC and Rotterdam’s port and industrial community is by working together. By continuing to pool our strengths, we are able to attract…

(Photo: Peterson)

Peterson Wins Logitsics Contract for Repsol Sinopec

Energy logistics provider Peterson announced Monday it has been awarded a new long-term integrated logistics contract to service Repsol Sinopec Resources U.K.The contract sees Repsol Sinopec transitioning their marine and quayside operations to Aberdeen from Peterhead with integrated supply base, logistics, transport and warehousing operations being provided from Peterson’s Aberdeen Operations Center.This latest contract, together with increased activity from existing clients, has led to significant increases in tonnage volumes across Peterson’s Aberdeen quayside operations, the company said.

(Photo courtesy CMA CGM)

Partners Extend Ocean Alliance to 2027

Partners in the world’s largest operational agreement between shipping companies have agreed to extend their alliance until 2027.The Ocean Alliance, consisting of CMA CGM Group, COSO SHIPPING, Evergreen and OOCL, was launched in 2017 for an initial period of five years with an option for a five-year renewal.The partners confirmed they will extend to the alliance's full 10-year duration, during a signing ceremony in Hainan, China on Thursday.Rodolphe Saadé, Chairman and Chief Executive Officer of the CMA CGM Group…

File Image: CREDIT AdobeStock / © Kastor

Diana Containerships Announces Receipt of NASDAQ Notice

Diana Containerships (NASDAQ: DCIX), a shipping company specializing in the ownership of containerships, announced that it has received written notification from The Nasdaq Stock Market LLC dated January 10, 2019, indicating that because the closing bid price of the Company's common stock for 30 consecutive business days, from November 26, 2018 to January 9, 2019, was below the minimum $1.00 per share bid price requirement for continued listing on the Nasdaq Global Select Market, the Company is not in compliance with Nasdaq Listing Rule 5450(a)(1).

The U.S. Gulf Coast port of Corpus Christi has evolved into the nation's most active crude export complex. CREDIT: Port of Corpus Christi, Texas

First U.S. Crude Cargoes Head to China Since Trade Breakthrough

Three cargoes of U.S. crude are heading to China from the U.S. Gulf Coast, trade sources said on Monday, the first departures since late September and a 90-day pause in the two countries' trade war that began last month.The vessels left Galveston, Texas, last month and are scheduled to arrive at Chinese ports between late January and early March, according to shipbrokers and vessel tracking data. The shipments mark a change since Chinese buyers largely began avoiding U.S. oil during the trade dispute that flared last summer."It looks like China has resumed purchasing U.S.

Logo: ITIC

ITIC Reimburses Broker Accused by Owner of Breach of Authority

International Transport Intermediaries Club (ITIC) recently represented a shipbroker accused by an owner of breach of warranty of authority in a dispute arising under a non-performing contract of affreightment (CoA).The shipbrokers had negotiated the terms of a CoA between the charterers and the ship owners, receiving all their instructions from an agent purporting to act for the charterers. The CoA provided for a minimum of 18 shipments to take place over a 12-month period but…

Ahead of Brexit, ABP Increases Investment in Port of Hull

Port operator Associated British Ports (ABP) said on Monday it had boosted investments at its Port of Hull, bringing the total to 250 million pounds ($321.78 million) since the country's 2016 decision to leave the European Union.ABP said it was working to support businesses that are anxious about a no-deal Brexit and the potential "severe disruption" that it may cause with the March 29 exit date ticking closer."We have already seen volumes begin to rise at our ports on the Humber as customers look for alternatives to Dover," said ABP, which has 21 ports across England, Scotland and Wales.Prime

Peter Sand, BIMCO’s Chief Shipping Analyst

BIMCO: US Box Imports Break Records Despite Uncertainty Ahead

Container imports on both the US East Coast (USEC) and West Coast (USWC) had a strong year in 2018, growing 3.7% and 8% respectively in the first 11 months of the year compared to the same period in 2017.Record high levels of inbound laden containers were experienced on both coasts in October with the USWC at 1.09 million TEU and the USEC at 0.91 million TEU according to BIMCO’s own data.The first two months of 2018 saw the USWC coast’s laden imports increase 11.7% from the start of 2017, with the accumulated growth rate then stabilising to around 4% for the rest of the year.

Prime Minister of Denmark Lars Løkke Rasmussen and Indian Prime Minister Narendra Modi. Photo: PIB

India Okays Marititme MoU with Denmark

Indian Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved the Memorandum of Understanding (MoU) on Maritime issues between India and Denmark.The MoU is proposed to be signed during the upcoming visit of the Denmark officials to India in January, 2019.Signing of the MoU will pave way for both countries for exploration of areas for bilateral collaboration in facilitating cross-border cooperation and investments between the maritime sectors of India and Denmark.The agreement will enable both the countries to exchange expertise…

File Image: CREDIT Robert Murphy

Trade War Contributes to U.S. LNG Export Decline

The number of U.S. liquefied natural gas vessels that went to China in 2018 fell by around 20 percent from the prior year as the trade war between Beijing and Washington heated up.In recent weeks, however, that dispute has cooled somewhat with talks in China this week between Chinese and U.S. trade teams raising hopes additional tariffs can be avoided.As the trade war escalated during the last six months of 2018, only six LNG vessels went from the United States to China, down from 25 during the same period in 2017. China imposed tariffs on U.S.

Workers from RUSH Marine begin removal of existing berth at site of new Cruise Terminal 3
(Photo: Canaveral Port Authority)

Canaveral Port Authority: $108.5M Contracts Awarded for New Cruise Terminal

At a special meeting on Tuesday, the Canaveral Port Authority Board of Commissioners unanimously approved awarding Merritt Island-based Ivey’s Construction Inc. a $78.98 million contract for the Port’s Cruise Terminal 3 project and a $29.53 million contract for the adjacent 1,800-vehicle parking garage.Ivey’s was the low bidder to build a two-story, 188,000-square-foot terminal as part of the Port’s largest single construction project in its 65-year history – a $163 million complex that will become the homeport for Carnival Cruise Line’s biggest and largest cruise ship…

Maria Anagnostou. Photo: DFDS

DFDS Gets Brexit Contract by the UK

Danish shipping and logistics company DFDS has been awarded a contract by the UK government to provide additional ferry capacity in the North Sea.Maria Anagnostou, Fleet Management, will be responsible for handling DFDS’ contract about additional ferry capacity in the North Sea with UK Department for Transport.The  UK Department for Transport announced that it had signed a contract with DFDS to provide additional ferry capacity to prepare for “the possibility of severe congestion at and around UK ports from 29.3.2019…

File Image / AdobeStock / Marco

U.S. Commerce Secretary: U.S., China Could Settle Immediate Trade Issues

The United States and China are likely to reach a good settlement over immediate trade issues while agreement on structural trade issues and enforcement will be harder, U.S. Secretary of Commerce Wilbur Ross said on Monday as U.S.-China trade talks resumed.Ross, in an interview on CNBC, said the talks in Beijing would help determine whether trade differences between the world's two largest economies could be resolved through negotiations."I think there's a very good chance that we will get a reasonable settlement that China can live with…

File Image / AdobeStock / © Burnel11

Sovcomflot Orders Three LNG-fueled Tankers from Zvezda Shipyard

On December 28, 2018, Sovcomflot (SCF Group) placed an order at Zvezda shipbuilding complex for construction of three new generation product carriers that use cleaner-burning LNG fuel as their primary fuel.Three MR-class vessels will have a deadweight (DWT) of 51,000 tonnes each. They will transport petroleum products and gas condensate and will be chartered to Novatek under long-term time charter agreements. Each tanker will have an ice class of 1B, enabling safe operations in areas with challenging ice conditions, including the Baltic.Using LNG fuel enables to significantly reduce emissions.

UK Defends Brexit Ferry Contract to Inexperienced Ferry Operator

Britain's transport minister has defended awarding a 14 million-pound ($18 million) contract for shipping goods after Brexit to a new ferry company that owns no ships.The government last week awarded three contracts to charter extra ferries to ease congestion if the United Kingdom fails to secure a trade deal before leaving the European Union in March.The smallest contract was won by Seaborne Freight, a British business that has never previously operated a ferry route, raising concern about whether the new service would be ready."I make no apologies for supporting a new British business…

File Image (AdobeStock / © Taras)

Coast Guard Proposes Annual Great Lakes Pilotage Increase

“When somebody says it’s not about the money, it’s about the money.” – H.L. Mencken, American journalist and essayist, 1880-1956.This report is about Great Lakes pilotage rates. It’s all about the money. In fact, it’s hard to find someone who even suggests that it’s not about the money.For fifty or so Great Lakes pilots, it’s about cold hard cash: now. For others, say, vessel owners, it’s about wasted resources, about lost chances for a more efficient and sustainable system; “opportunity costs,” as economists like to say.

Star Bulk Carriers Acquires Own Shares

Star Bulk Carriers Corp., a global shipping company focusing on the transportation of dry bulk cargoes, announced that, pursuant to the Company’s previously announced share repurchase program, the Company purchased today 25,000 of its common shares in open market transactions at an average price of $8.76 for aggregate consideration of $219,100.The Company shall cancel all the common shares it has repurchased.On November 29, 2018, the Company announced a share repurchase program to purchase up to an aggregate of $50.0 million of the Company’s common shares.

Image: Diana Shipping Inc

Diana Shipping Win TC for m/v Myrsini with Glencore

Diana Shipping  through a separate wholly-owned subsidiary, it has entered into a time charter contract with Glencore Agriculture B.V., Rotterdam, for one of its Kamsarmax dry bulk vessels, the m/v Myrsini.The global shipping company specializing in the ownership of dry bulk vessels, today announced that the gross charter rate is US$12,750 per day, minus a 5% commission paid to third parties, for a period of minimum ten (10) months to maximum twelve (12) months.The charter commenced on December 22, 2018.

Pic: Diana Shipping Inc

Diana Shipping Fixes m/v Seattle with SwissMarine

Diana Shipping announced that, through a separate wholly-owned subsidiary, it has entered into a time charter contract with SwissMarine Services S.A., Geneva, for one of its Capesize dry bulk vessels, the m/v Seattle.According to the global shipping company specializing in the ownership of dry bulk vessels, the gross charter rate is US$16,000 per day, minus a 5% commission paid to third parties, for a period of minimum 16 months to maximum 19 months. The charter is expected to commence on December 25…

Image: TMS Cardiff Gas

TMS Cardiff Gas Orders Four LNG Carriers at Hyundai Heavy Industries

Greek gas carrier owner and operator TMS Cardiff Gas has signed additional contracts with Hyundai Heavy Industries (HHI) & Samsung Heavy Industries (SHI) of Korea for the construction of 174,000 cubic meter LNG carriers with XDF propulsion. The Greek corporation said that this order is the latest in the Company’s X Carrier Series of orders taking the tally of X Carriers Series within the fleet to eleven. The Company’s fleet of managed vessels has grown to sixteen. The vessels are scheduled for delivery in 2020/2021…

The biggest spenders of 2018 (VV.com)

Biggest Spenders of 2018

With less than a week until Christmas and most of our presents bought, we're feeling the pinch. However, that's nothing compared to the amount that some have been spending this year. VesselsValue's Senior Analyst Court Smith gives a rundown on which countries have splashed the most cash on second hand vessel purchases over 2018.USAJP Morgan Global Maritime is the US company who has spent the most on second hand vessels: 308 million USD so far in 2018. However, they have changed their purchasing strategy half way through the year.

File Image: a typical DP World facility (CREDIT: DP World)

Indian Court Refuses to Quash Antitrust Probe at Mumbai

An Indian court has declined to quash or stall an antitrust investigation into Dubai-based port operator DP World's alleged anti-competitive behaviour at the country's largest container port in Mumbai, three sources told Reuters on Wednesday.The Competition Commission of India (CCI) last month said it suspected antitrust violations by DP World and Denmark's A.P. Moller-Maersk at the terminals they operate at state-owned Jawaharlal Nehru Port Trust (JNPT).The CCI's probe followed a complaint by Singapore's PSA International Pte Ltd…

Peter Sand, BIMCO

BIMCO: Global Shipping Scouts for Future Growth

Reflections 2019 – Market Analysis Section By Peter Sand, Chief Shipping Analyst.This article contains extracts from BIMCO’s Reflections 2019, which will be available in full on 2 January 2019 on www.bimco.org and will be sent out to all BIMCO members alongside their free member copy of BIMCO’s Holiday Calendar 2019.Where do we go to find economic growth that spurs shipping demand in the next five years? According to the International Monetary Fund (IMF), we should look towards emerging and developing countries.

File Image / AdobeStock / © Lucaz Z

Baltic Index Slips from 6-week Highs

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, on Tuesday retraced from its six-week high in the previous session, weighed down by declines in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, shed 11 points, or 0.8 percent, to land at 1,395 points. The index had touched its highest in six weeks in the previous session on Monday.The capesize index lost 40 points, or 1.6 percent, to 2,393 points.

Image: Shell Oman Marketing Company SAOG

Port of Duqm, Shell Oman to Develop Fuel Bunkering Facilities

Shell Oman Marketing Company SAOG signed an agreement with Port of Duqm Company SAOC (PDC) to develop fuel bunkering facilities and services.The downstream oil marketing company in the Sultanate said in a press release that agreement was signed by Dr. Mohammed Mahmood Al Balushi, Chief Executive Officer of SOM, and Reggy Vermeulen, CEO of PDC.The agreement establishes bunkering terminal to provide different grades of quality fuels and lubricants as well as other ancillary facilities to marine liners calling at Port of Duqm…

Yoshihisa Suzuki. Photo: Gazprom

Gazprom, Itochu Sign MoU on Baltic LNG

Russian oil and gas company Gazprom and Japanese trading house Itochu have signed a memorandum of understanding (MoU) on the proposed Baltic liquefied natural gas (LNG) export project."With this document, the parties confirmed their interest in potential cooperation in the framework of the project," said a press note from the Russian gas giant.A working meeting between Alexey Miller, Chairman of the Gazprom Management Committee, and Yoshihisa Suzuki, President and Chief Operating Officer of Itochu Corporation, took place in St.

File Image: AdobeStock / © Leonid Ermeychuk

Stronger Capesize Demand Propels Baltic Index

The Baltic Exchange's main sea freight index, tracking rates for ships transporting dry bulk commodities, gained on Friday supported by a jump in capesize vessel rates.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, gained 36 points, or 2.6 percent, to 1,401 points.The capesize index rose 203 points, or 9.3 percent, to 2,383 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal…

Intermodal operations at the port of Shanghai / Credit: AdobeStock / © zdu hang

China to Halt Additional Tariffs on U.S.-made Cars

China to suspend additional 25 pct tariffs on U.S.-made cars for three months; China's planned tariff halt follows purchase of U.S. soybeans.China will suspend additional tariffs on U.S.-made vehicles and auto parts for three months starting Jan. 1, 2019, the country's finance ministry said on Friday, following a truce in a trade war between the world's two largest economies.China will suspend 25 percent tariffs on 144 U.S. vehicle and auto part items and 5 percent tariffs on 67 auto items between Jan.

file Image / AdobeStock © Kalyakan

Stevedores in Portugal End Strike, Unblocking VW Car Shipments

Striking stevedores at the Portuguese port of Setubal and the port administration reached a deal on Friday to end a strike that started 40 days ago and has blocked shipments of over 20,000 cars from a Volkswagen plant nearby."Loadings can start today if there are ships ready," said Renato Teixeira, a spokesman for the SEAL union, explaining that the government-brokered deal involved contracts for dozens of stevedores who previously had precarious conditions, usually hired for just a day's work.The Volkswagen Autoeuropa plant near Lisbon is Portugal's single largest exporter.

Pic:  International Maritime Organization (IMO)

ICE to Launch Marine Futures Contracts Ahead of IMO 2020 Sulfur Cap

The Intercontinental Exchange will launch new Marine Fuel 0.5% futures contracts in advance of the implementation of the 0.5% sulphur cap by the International Maritime Organization (IMO) in 2020.The operator of global exchanges and clearing houses and provider of data and listings services said in a press release that the new contracts are expected to launch on February 4, 2019, subject to completion of relevant regulatory processes.The new contracts have been developed in response…

Pic: Scorpio Bulkers

Scorpio Bulkers Gets Work for SBI Hera

Scorpio Bulkers Inc, shipping company, owns and operates dry bulk carriers,  announced that it has entered into a time charter-out agreement with an unaffiliated third party for SBI Hera, one of its Ultramax drybulk carriers.According to a press release from the provider of marine transportation of dry bulk commodities, the charter is for a period of between four and six months at a rate of $14,850 per day.Recently, it has entered into a time charter-out agreement with an unaffiliated third party for SBI Libra…

Photo: Panama Canal Authority (ACP)

Brazil’s Itaqui Port and Panama Canal Sign MOU

The Panama Canal has signed a memorandum of understanding with the Port of Itaqui to promote the shipment of grains and other cargoes in the commercial route from Brazil through the Panama Canal to destinations located in the Pacific Ocean.Itaqui, located in São Luís, Maranhão, is the Brazilian port closest to the Panama Canal. It  has the infrastructure and connectivity necessary to move these exports to markets in Asia."With this agreement, the Panama Canal looks to promote…

Pic: Autoridad Portuaria de la Bahía de Algeciras

Hispano-Chinese MoU for Ports

The Port of Algeciras Authority (APBA) Chairman, Manuel Moron, and the Ningbo Zhoushan Port Group Chairman, Mao Jianhong, signed a Memorandum of Understanding (MoU) that is set to formalize co-operation between both of the logistics powerhouses and increase commercial flow between Southern Europe and Asia. According to the port and harbour of Algeciras, the MoU was rubber-stamped during the official state visit to Spain of the Chinese President,  Xi Jinping, who - together with the Spanish Prime Minister…

“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund.“Nobody, not even the opposing sides in this evolving economic conflict, seems to know what is going to happen next,” said Xeneta CEO Patrik Berglund. (Photo: Xeneta)

Xeneta: Watch Both Sea and Air Amid Trade War Tensions

As the ongoing trade war between the US and China continues to send tremors of uncertainty through the global economy, Xeneta is advising senior executives to keep a close eye on fluctuating ocean and air freight rates. In an unpredictable geopolitical environment, highlighted by last week’s arrest of Huawei’s CFO in Canada, the leading freight rate benchmarking and market intelligence platform says shippers need agile logistics strategies, with the option of shifting transportation mode whenever necessary.“Nobody…

File Image: CREDIT: Port of Portland, UK

Baltic Index Slips on Weaker Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships ferrying dry bulk commodities, slipped on Wednesday as capesize vessel rates declined.The overall index, which factors in rates for capesize, panamax and supramax shipping vessels, lost 11 points, or 0.8 percent, to 1,353 points.The capesize index fell 30 points, or 1.4 percent, to 2,153 points. Average daily earnings for capesizes, which typically transport 170,000 tonne-180,000 tonne cargoes such as iron ore and coal, decreased by $269 to $16,808.The panamax index dipped 9 points, or 0.6 percent, to 1,445 points.

Image of LNG carrier to be built by NYK Line

NYK in Charter Agreement with Mitsubishi

Japanese shipping and logistics giant Nippon Yusen Kabushiki Kaisha (NYK) has signed long-term contracts with Diamond Gas International Pte. Ltd. (DGI), a wholly owned subsidiary of Mitsubishi Corporation (MC) located in Singapore, for DGI to charter from NYK three newly built liquefied natural gas (LNG) carriers.Previously, NYK concluded long-term time-charter contracts for three new LNG vessels for MC’s Cameron LNG project, so these most recent contracts bring the total to six carriers for MC.The NYK Group will be responsible for ship management for the three ordered LNG carriers…