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Crowley Restructuring Announced

Crowley Maritime Corp. is planning a significant strategic restructuring that will result in a more decentralized ocean cargo transportation company once the sale of its South America liner services to Hamburg Sud is complete. Having completed this assignment, P. Elliott Burnside will leave the position of president of Crowley American Transport to establish his own industry consulting service, which Crowley will utilize. The company will not replace Burnside and will instead restructure its liner services into two major business units. Puerto Rico and Caribbean Liner services will be led by John Douglass, vice president and general manager, Puerto Rico and Caribbean Services, while Central America and Mexico liner services will be led by Rinus Schepen, vice president and general manager, Central America & Mexico Services. Crowley's South America liner services will continue to be run by Frank Larkin, vice president and general manager, South America Services, until the sale of these services is finalized.


EU Extends Shipping Consortia Competition Waver

The European Commission extended for five years a block exemption allowing shipping companies to form consortia covering the transport of cargo. The Commission said the block exemption automatically covered liner shipping consortia that have a market share of below 30 percent. The decision confirmed the Commission's favorable attitude towards liner shipping consortia, which "usually allow shipping lines to rationalize their activities and achieve economies of scale


MOL (Canada) Inc. to Serve Canadian Liner Market

Effective August 1, 2013, Mitsui O.S.K. Lines, Ltd. will begin operating in Canada as MOL (Canada) Inc. MOL (America) Inc. and Montship, Inc. today jointly announced that their liner agent agreement will expire on July 31, 2013. Montship has successfully represented MOL’s Canadian liner services for over 53 years and both MOL and Montship are pleased with the long-standing partnership. All other agent agreements between MOL’s non-liner divisions and Montship will continue


Hamburg Süd to Acquire CCNI Liner Service

CCNI Antillanca (Photo: CCNI)

Compañía Chilena de Navegación Interoceánica S.A. (CCNI) with headquarters in Valparaiso, Chile, and Hamburg Südamerikanische Dampfschifffahrts-Gesellschaft KG (HSDG) with headquarters in Hamburg, Germany, announce that they have signed a preliminary agreement whereby HSDG will acquire the container liner activities of CCNI including the related general agency functions subject to due diligence


SS United States: Deal Reportedly brokered to Save Historic Ship

(Image: Maritime Reporter & Engineering News)

A deal has been brokered to save the historic liner SS United States, with full details scheduled to be announced in New York City on Thursday, February 4, 2016.   Once the queen of the express liners, and the fastest, safest and biggest passenger liner in history, the SS United States for years has quietly awaited rescue in Philadelphia.   Built by Newport News Shipbuilding and Drydock Co. (now Huntington Ingalls Industries (NYSE: HII) and designed by legendary  William


HMM Appoints ISS for Australian Business

  Hyundai Merchant Marine (HMM) announcec that its Australian container liner business will be handled by Inchcape Shipping Services (ISS), effective February 1, 2015. Both HMM and ISS are working closely together to ensure that the change over to the new agency is a seamless transition with the head office of the agency situated in the same St Leonards office as at present, the companies said, adding that all Import and Export customers can expect ‘business as usual’


Coast Guard on Alert for Toxic Ship

The U.S. Coast Guard and the Guam Environmental Protection Agency are on alert for the possible arrival of the contaminated cruise liner, SS Independence, which is reportedly heading to Guam after being refused entry in Hawaii, The Variety reported. SS Independence, which is believed to be loaded with toxic polychlorinated biphenyls or PCB and lung-damaging asbestos, is being pulled by the tug ship Pacific Hickory, on the way to India, where the 57-year-old cruises liner will be scrapped


First Iran-made Liner Set for Launch

The first Iran-made ocean liner, named Iran-Arak, will be launched next week, Iran Mania reported. The Iran-Arak is the largest ocean liner constructed by a Middle Eastern country, adding that the project was undertaken by Iran Offshore Industries Company at a cost of $35 million. The vessel is one of the five shipbuilding projects implemented at the company and took two years to complete. It will have the capacity to carry 2,130 containers


Isramco Bids to Purchase Luxury Cruise Liner

Isramco, Inc., bid for a luxury cruise liner at an auction held on March 19 under order of the United States Bankruptcy Court, Southern District of Florida. The Court entered an order on March 19, 2004 authorizing the sale to the Company of the cruise liner, on an as is basis and free and clear of all liens and claims, for a purchase price of $8,050,000. The Company is required to consummate the purchase of the vessel by March 29.


Matson Monitors Cylinder Liner Wear

Liner Change image WEB.jpg

The cylinder liner is a crucial part of a ship’s engine, as monitoring wear not only extends operational life but also prevents unexpected and costly repairs, with the average cost for a replacement liner at over $150,000. Matson has installed Parker Kittiwake’s LinerSCAN onto several of its vessels as part of a range of condition monitoring tools. Payback proved immediate, as on the first voyage after installation


Hapag-Lloyd Shareholders Okays Merger with UASC

Photo: Hapag-Lloyd AG

 Hamburg-based ocean carrier Hapag-Lloyd said its shareholders approved all items on the agenda at Annual General Meeting, mainly the  share capital increase needed for combination with United Arab Shipping Co (UASC).   "The main matter regarded creating the capital


Crowley Adds New Container Shipping Service

Photo: Crowley

Crowley Maritime Corporation announced that it is launching a new weekly fixed-day container shipping service between Jacksonville and Costa Rica.   The service’s two containerships will call at the Jacksonville Port Authority’s Talleyrand Terminal


GSL Extends CMA CGM Charters

Marie Delmas. Photo: Marine Marchande

 Global Ship Lease (GSL) has extended the charters of the Marie Delmas and Kumasi, two 2,207-TEU vessels, for up to 3.25 years.   Under the agreement, a revised rate of $13,000 per day will apply from August 1, 2016 until the charters' previous earliest expiry dates in September 2017


Hapag-Lloyd Wins 2016 Ocean Performance Award

Photo:  Hapag-Lloyd

 The GT Nexus Shipper Council, a community group of supply chain executives representing large global enterprises, has recognized Hapag-Lloyd, one of the world's leading container liner shipping companies, as the winner of the 2016 Ocean Performance Award.   


Port of Kiel on Course for Growth

Photo: Port of Kiel

The Port of Kiel is on course for growth after upping handling in both the cargo and passenger sectors by nearly 2 percent in the first half of 2016. The port’s various quay and terminal facilities handled 3.1 million tons of incoming and outgoing cargo – an increase of 1


Ince to Advise Danaos on HMM Restructuring

Photo: Danaos Corporation

 Ince & Co’s London and Piraeus corporate, finance and shipping teams have advised long-standing client Danaos Corporation on Korean container line Hyundai Merchant Marine Co. (HMM), Ltd.’s US$2.1 billion restructuring.  


SpeedCast Acquires WINS Limited

Satellite communications and network service provider SpeedCast International Limited announced its acquisition of WINS Limited, a Europe-based provider of broadband satellite communications and IT solutions for the maritime sector.  


Danaos Reports 25.5% Rise in Income

Pic: Danaos Corporation

 Danaos Corporation, one of the world's largest independent owners of containerships, has reported net income of $47.7 million for the three months ended June 30, 2016 compared to $38.0 million, for the three months ended June 30, 2015, an increase of 25.5% for the period ended June 30, 2016


SS United States Will Not Return to Service

SS United States sits out of commission in Philadelphia. (Photo: SS United States Conservancy)

A comprehensive technical feasibility study has determined the SS Unites States to be structurally sound, but a number of insurmountable obstacles will keep America’s Flagship from returning to seagoing service. In February, Crystal Cruises reached a deal with the SS United States


Euroseas Signs an Addendum Shipbuilding Contract with YJZ Yard

Photo: Euroseas Ltd

 Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, has announced  certain developments related to its newbuilding program.  


Over 60 Vessels Transit Expanded Panama Canal

Photo Panama Canal Authority

The Expanded Panama Canal has transited 69 Neopanamax vessels since the Inauguration on June 26, 2016. Specifically, 40 containerships, 24 liquefied petroleum gas (LPG) carriers, three vehicle carriers and two liquefied natural gas (LNG) carriers have transited the Expanded Canal


Danaos Reports Strong 1H

Danaos H.O. Photo Danaos

Danaos Corporation today reported unaudited results for the period ended June 30, 2016. Highlights for the Second Quarter and Half Year Ended June 30, 2016:   * Adjusted net income1 of $47.7 million, or $0.43 per share, for the three months ended June 30, 2016 compared to $38


M&A Deals Change the Landscape in the Container Ports Industry

Table: Drewry Shipping Consultants Limited

 Softening demand growth coupled with larger liner shipping alliances and bigger ships is moving the container ports industry towards a value sector from growth sector, albeit still highly profitable, according to the Global Container Terminal Operators Annual Report 2016 published by global


Westports Q2 Profit Up

Photo: Westports Malaysia

 Malaysian port operator Westports Holdings saw second quarter net profit jump 31% to MYR159.9m ($39.6m) from MYR122.1m in the previous corresponding period due to an increase in container volumes.   Correspondingly, revenue also climbed to RM522.6mil from RM405.3mil last year.


Moody's: Challenges Ahead for Asian Port Operators

Mundra Port. Photo: Adani Group

 Moody's Investors Service says lackluster global growth, weak commodity prices, high capital expenditure commitments and a liner industry struggling with overcapacity is testing the resilience of Asian port operators.   "While the rated port operators in Asia have scope for cost






 
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