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Chinese Cargo Ship

Missing Chinese Ship Confirmed Sunk

A Chinese cargo ship which was reported missing in the Bohai Sea of north China over two months ago has been found sunk in the sea with 10 people aboard missing, local maritime authorities said. The missing were unlikely to have survived, said an official with the Maritime Affairs Administration of Tianjin, a port city which is more than 70 nautical miles away from the site where the boat was found. The boat was reported missing on its way to Tianjin after it took some 500 tons of sand in Caofeidian, an island of northern Hebei Province in the Bohai on February 20 this year and bad weather was blamed for the accident, the official said. All the victims are from central China's Hubei Province and four boat owners were also missing from the accident, Xinhua news agency reported. Source: Xinhua


Iran Warship Wrests Chinese Ship from Pirate Control

Chinese owned cargo ship hijacked by Somali pirates freed by Iran warship, crew rescued, fate of 9 pirates not stated All 28 Chinese crew members aboard a China-linked cargo ship hijacked by Somali pirates have been rescued, the Chinese embassy in Tehran said. The cargo ship, Xianghuamen, was hijacked by Somali pirates in the Sea of Oman near Iran's southern port of Chabahar.The vessel, registered in Panama, belongs to Nanjing Ocean Shipping company in eastern China.


Seventeen Missing after Ship Sinks off Northeastern China

Eight North Korean sailors were rescued but 17 remain missing after their cargo vessel sank Tuesday off the coast of northeastern China, the Xinhua News Agency reported. The 3,000-ton cargo ship Ryong Ak San was carrying 25 crew members and 2,900 tons of ore when it sank Tuesday afternoon off the coast of China's city of Dalian, the report said, quoting the city's maritime rescue office. The Chinese maritime authorities continue to search for the missing crew members amid strong winds that


Giuseppe Bottiglieri Buys Two Bulk Carriers

Giuseppe Bottiglieri purchased two more newbuildings at Chinese shipyard Jiangsu Yangzijiang. The President of Giuseppe Bottiglieri di Navigazione SpA shipowning company said that the two bulkcarriers are sister vessels of the six Post Panamax (92.500 dwt) ordered last January. According to the company, in an effort to build the company’s modern fleet of bulk carriers, this $100m investment in the dry cargo sector comes after an order that was placed in January.


Seamanship Trophy Recognizes Rescue

The captain and crew of a U.S.-flag merchant vessel will receive the American Merchant Marine Seamanship Trophy for their skillful action in rescuing two mariners from stormy seas. Capt. Tom McDorr and the crew of Horizon Falcon, owned by Horizon Lines, Inc., displayed superior seamanship last year when they saved the lives of two Chinese sailors whose vessel sank in the North Pacific. The Seamanship Trophy, which recognizes extraordinary seafaring skills by American mariners


Focus On China: Refineries, Pipelines And Vessel Supply

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China’s demand for imported oil is, and will, continue to be one of the key influences on the tanker market, according to industry experts Braemar Shipping Services plc. Demand growth in the country has progressed at an unprecedented pace over the last decade, a pattern universally anticipated to continue. This additional demand will increase China’s dependence on imported crude with beneficial knock-on effects for the tanker industry. Refining capacity


New Vessels for FESCO to be Built in China

A series of new vessels will be built in China for the Far-Eastern Shipping Company (FESCO). According to reports, the contract on building of four bulk carriers at the Chinese shipyard Quingshan Shipyard in the city Ukhan was made. Every bulk carrier will be 623 x 104 ft., deadweight 57,000 tons. Every vessel will be equipped with four loading cranes. The bulk carriers will work at transportation of bulked cargo - corn, coal, ore, pipes and others.


FMC Issues Clarifications on Chinese Carriers

The Federal Maritime Commission (FMC) issued clarifications regarding its recent action on petitions filed by three Chinese controlled carriers. The actions make it clear that these carriers are allowed to change rates, charges classifications, rules or regulations which result in a decreased cost to the shipper and that such changes may become effective upon publication. COSCO – Petition No. P3-99. China Shipping – Petition No. P4-03. SINOLINES – Petition No. P6-03


FMC Grants Chinese Petitions

The Federal Maritime Commission (FMC) issued a Press Release stating that it granted the petitions of three Chinese controlled carriers for relief from the 30-day waiting requirement for reduction of tariff rates. The FMC also issued a Final Rule amending its regulations governing financial responsibility to permit licensed NVOCCs, at their option, to file proof of additional financial responsibility as an alternative to meet a Chinese requirement to demonstrate financial responsibility for


Port of L.A. Container Volumes up for December

Photo: Katharine Sweeney

The Port of Los Angeles has released its December 2013 cargo volumes. December overall volumes increased 11.09 percent compared to December 2012. The increase is due in part to shippers moving cargo in advance of the Chinese New Year, which this year falls on January 31. Imports increased 8.63 percent, from 296,874 Twenty-Foot Equivalent (TEU) containers in December 2012 to 322,500 TEUs this December. Exports jumped 16


POSH raises $311m in Singapore IPO

Image: POSH file photo

POSH prices IPO at S$1.15 per share, near bottom of indicative range. POSH focuses on service to production, maintenance and is keen on growing offshore accommodation business. PACC Offshore Services Holdings (POSH) could raise at least S$388


Little Change in Overall Shipping Confidence

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Little change occurred in the latest monthly Stifel Logistics Confidence Index. Slipping only 0.1 points from 57 in March to 56.9 this month, the overall index did however favor improvements in the present situation increasing 1.6 points to 51.8


UN Seeks Sanctions Waiver to Ship Arms to Mali

The United Nations is seeking an exemption from a U.N. Security Council arms embargo on Ivory Coast so it can ship weapons and military equipment across the East African nation to its peacekeeping mission in landlocked Mali, a spokesman said on Thursday.


Divers struggle in search for ferry survivors

Rescuers struggled with strong waves and murky waters on Thursday as they searched for hundreds of people, most of them teenagers from the same school, still missing after a South Korean ferry capsized on Wednesday. Coastguard, navy and private divers scoured the site of the accident


POSH attracts Hwang, Fortress as IPO investors

PACC Offshore Services Holdings (POSH), part of the empire of Malaysia's richest man Robert Kuok, has roped in Hwang Investment Management Berhad and Fortress Capital Asset Management as cornerstone investors for its Singapore listing, which sources close to the matter said could raise about $400


Deadbeat Chinese Shipyards Stick Banks with Default Bill

Chinese banks are stuck in a lose-lose legal battle between domestic shipyards and foreign buyers over billions of dollars in refund guarantees that are supposed to be paid out if shipbuilders fail to deliver on time. One in three ships ordered from Chinese builders was behind schedule in 2013


WFW Advises FPSO Joint Venture Debt Financing

International law firm Watson, Farley & Williams Asia Practice LLP (WFW) said it advised a joint venture involving M3nergy and PT Transamudra as sponsors on a $182 million term facility and $38.4 million guarantee facility. The funds will finance the floating production


Petroperu Tenders to Buy ULSD Cargoes

State-run Petroperu launched a tender to buy six 290,000-324,800 barrel cargoes of ultra low-sulfur diesel (ULSD), to be received from May to June at its Conchan, Mollendo and Callao ports in Peru, according to an invitation seen by Reuters on Wednesday.


60 MacGregor Cranes Ordered for Chinese-built Bulkers

Range of MacGregor cranes from well-proven electro-hydraulic versions to highly-efficient low-energy new-generation VFD electric cranes.

MacGregor, part of Cargotec, has won a run of orders for bulk versions of its cargo handling cranes from five Chinese shipyards. The cranes are destined for 15 bulk carriers for various owners. The orders were booked in the first quarter 2014 order intake and include:


Chang Jiang Shipping Faces Asset Liquidation

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co. Ltd. to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers.   The unit


Debt-Laden Bulk Shipper to be Liquidated

A Chinese court has ordered a unit of debt-laden dry bulk goods shipper Chang Jiang Shipping Group Phoenix Co Ltd to liquidate its assets, displaying further evidence of the troubles faced by the country's beleaguered shippers.   The unit


Nanjing Tanker To Be Delisted, First By Central Gov't Backed Firm

 Loss-making shipping company Nanjing Tanker Corp will be delisted from the Shanghai Stock Exchange after a five-day grace period, marking the first time for a company backed by the central government to be dropped from a domestic exchange.  


POSH may raise $311 Mln in Singapore IPO

PACC Offshore Services Holdings (POSH) could raise at least S$388.27 million ($311 million) after pricing its initial public offering near the bottom of the pricing range indicated earlier, two sources with knowledge of the matter said.


Port of LA March 2014 Container Volumes Surge

Container ship: Image courtesy of Port of LA

The Port of Los Angeles has released its March 2014 containerized cargo volume figures, showing that container imports surged 42 percent, from 231,397 TEUsin March 2013 to 327,497 TEUs in March 2014. Exports rose 21 percent, from 154,428 TEUs in March 2013 to 187,826 TEUs in March 2014.


Divers Struggle in Search for Ferry Survivors

Rescuers struggle with waves, murky waters; Captain faces charge of abandoning South Korean ferry. About 290 people still missing, many of them teenagers. Rescuers struggled with strong waves and murky waters on Thursday as they searched for hundreds of people


 
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