According to a report from Xinhua, a German freight ship was seized on the morning of Oct. 24 by pirates off the coast of Kenya, a spokesman for the German army said. The spokesman said pirates attacked and captured the ship about 1,930 km east of the Kenyan city of Mombasa. The ship belongs to German shipping company Beluga-Reederei, but it was not immediately known how many people were on board, said German media reports. (Source: Xinhua)
The Shipbuilding Joint Stock Company (SHINEC) has won a $200,000 contract to build the interiors for five ships owned by the RAON group of the Czech Republic. The work, covering wooden wall and floor planks, furniture, cupboards and lounge bars, is expected to last through the end of the year. The conversion of five ships owned by RAON into luxurious “floating hotels” is part of the largest-ever ship engineering project by the Republic of Czech
USCG inspectors in Dutch Harbor detained 281-ft. freight ship Jacha for the third time since Aug. 1998 due to Safety of Life At Sea violations (SOLAS). Inspectors found seven discrepancies aboard 14-year-old Jacha, including fire doors that didn't close properly, an incompetent fire drill and water leaks on the vessel's main engine. Due to Jacha's history of safety discrepancies, this time, it is not permitted to conduct any cargo operations
The U.S. Department of Justice announced that four individuals have agreed to plead guilty for their involvement in a conspiracy to eliminate competition and raise prices for moving freight between the Continental U.S. and . A fifth shipping executive has agreed to plead guilty to destroying evidence of the shipping conspiracy. The five executives charged work for large companies that provide freight shipping services to customers transporting goods between the continental and
The Ports of Indiana today announced new key initiatives to expand its economic development role. After a year-long strategic planning process involving in-depth research and interviews with industry stakeholders, the organization made the decision to expand its current role and aggressively grow its core business. The Ports of Indiana's new initiatives include spearheading the evaluation of an inland intermodal rail port in Indiana and pursuing increased development financing authority.
United States Coast Guard forces assigned to the Mediterranean region departed Rota, Spain Thursday on their trans-Atlantic journey home following their efforts as part of Operation Enduring Freedom. The 378-ft. Coast Guard Cutter Dallas, homeported in Charleston, S.C., and four patrol boats; the CGCs Pea Island and Knight Island homeported in St. Petersburg, Fla.; the CGC Bainbridge Island homeported in Sandy Hook, N.J. and the CGC Grand Isle from Gloucester, Mass
The United Arabs Emirates Shipping Association, a representative body for UAE-based commercial shipping, is supporting the efforts of the UN, IMO, and UAE Ministry of Environment and Water and DMCA in advocating for a global and open verifiable emissions trading program. One of the challenges that face the marine industry is reconciling their global reach with local expectations. As of the last IMO Marine Environmental Protection Committee (MEPC) meeting there is no globally accepted or
The Coast Guard's May 10 proposal to add costly and prescriptive salvage and firefighting provisions to its tank vessel response plan regulations should be overhauled in favor of a simpler and more practical approach, AWO testified at a July 17 public meeting in Philadelphia, Pa. Jennifer Carpenter, AWO Senior Vice President-Government Affairs and Policy Analysis, summarized AWO's major concerns regarding the proposal:
The Panel on 21st Century Freight Transportation published its final report on United States freight transportation, offering an assessment of its current condition with recommendations for strengthening nationwide infrastructure and U.S. economy. The panel, led by its Chairman, U.S. Rep John J. Duncan, Jr. (R-TN) and Ranking Member Jerrold Nadler (D-N.Y.), was founded by Full Committee Chairman Bill Shuster (R-Pa.) and Ranking Member Nick J. Rahall, II (D-W.Va.) in April 2013 to examine U.S
Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market.
OAO Sovcomflot (SCF Group) today reported results for the nine months and third quarter (Q3) ended 30 September 2014. Nine months 2014 – Financial Highlights (IFRS accounts) USD
Lynden Logistics, LLC signed a letter of intent with Chieftain Metals Corp. to provide barge services in support of the construction and production of the Tulsequah Mine in British Columbia. The services will include the barging of materials and supplies up the Taku River to the mine site and
CEVA Logistics, one of the world’s leading supply chain management companies, has been awarded a long term contract to provide freight management services to SuperGroup, owner of famous fashion brands including SuperDry. The contract award followed a competitive tendering process
Hamburg Süd yesterday christened another containership in its San class, as the official naming ceremony of the newbuild San Clemente was held at the Marina Bay Cruise Center in Singapore, with customers and business partners. The San Clemente is one of Hamburg Süd’s series of
CaroTrans, a leading global NVOCC (non-vessel operating common carrier) and ocean freight consolidator, today announces their U.S. West Coast port readiness program to address potential supply chain disruptions. Congestion and current labor issues are impacting the flow of cargo at U.S
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell 20.5 percent to $934 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.
New Toolkit Will Assist U.S. Ports in Securing Funding for Infrastructure Projects The U.S. Department of Transportation’s Maritime Administration (MARAD) today released the first module of the Port Planning and Investment Toolkit, a manual designed to aid U.S
Matson, Inc., a U.S. carrier in the Pacific, announced its results for the third quarter of 2014, in which it reported a net income of $21.5 million, or $0.50 per diluted share, compared with $17.2 million or $0.40 per diluted share in 2013, while consolidated revenue for the third quarter 2014
Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.4 percent to $1,175 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
The supply/demand imbalance that drove dry bulk markets down to 2009 levels during the first half of the year is set for adjustment, with Newport Shipping Group predicting an improved tonnage balance over the next couple of years, resulting in a freight rate peak in the 2016/2017 period.
Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 88.2 percent to $1,312 per 20-foot container (TEU) in the week ended on Friday, one source with access to data from the Shanghai Containerized Freight Index told Reuters.
Belgian gas shipping group Exmar said on Thursday that the market for its very large and midsize gas carriers was at historically high levels in the third quarter and was expected to remain good in spite of new vessels being delivered in 2015.
The EU's TEN-T Program will co-fund with almost €2.5 million studies on the capacity development in the Port of Dublin to improve the freight traffic connection to the main rail and road axis linking Ireland to the UK and continental Europe.
Container shipping company Maersk Line, a unit of Danish conglomerate A.P. Moller-Maersk , plans to raise freight rates sharply on main routes from ports in Asia to ports in northern Europe, with effect from Nov 1. Rates for twenty foot equivalent unit containers (TEU) will rise by $900
Rates for capesize bulk carriers on key Asian routes are again likely to fall as the volume of tonnage limits any price gains from an increase in chartering activity, brokers said. Freight rates for a voyage from Australia to China have steadily fallen since Sept