Harvest Halts as Rains Douse Midwest, Could Impact Barge Loading
Heavy rains and flooding swamped a broad swathe of the northern Midwest this week, halting the harvest of corn and soybeans and forcing the closure of at least two Iowa crop processing plants, traders and farmers said on Friday. Farmers' concerns grew that standing water in fields could damage unharvested crops, while floodwaters swelled the Mississippi River and threatened to disrupt the loading of export-bound grain barges.
Libyan Oil Port Takeover Gives Edge to Eastern Commander
Less than a fortnight after forces loyal to Khalifa Haftar swept into four of Libya's oil ports, tankers are loading, production has jumped, and momentum has shifted…
Bolivia's Morales Accuses Chile of Restricting Access to Ports
Bolivian President Evo Morales told the United Nations Human Rights Council on Friday that Chile had restricted access to ports on its coast in violation of free passage treaties…
Port of New Orleans Board Elects Kearney as Chairman
The Board of Commissioners of the Port of New Orleans has elected Mr. Michael W. Kearney chairman. Mr. Kearney represents Orleans Parish and joined the Board in December of 2012 when he was appointed by former Gov. Bobby Jindal. He succeeds Mr. William T. Bergeron, whose term as chairman expired this month. Mr. Bergeron will continue to serve as a commissioner. In addition, the Board elected Mr. Robert R. Barkerding vice chairman and Mr. Laney T. Chouest secretary-treasurer. Mr.
Carnival Signs MOA for First New Cruise Ships Built in China
Carnival Corporation & plc has announced that its cruise joint venture in China has signed a non-binding memorandum of agreement (MOA) to order the industry’s first new cruise ships built in China for the Chinese market. The MOA is subject to several conditions including closing of the joint venture, financing and other key terms. As part of the new MOA, Carnival Corporation’s cruise joint venture…
FMC: Update Regarding Commission Briefings on the Status of Hanjin Shipping
The status of Hanjin Shipping and the disruptions caused by its bankruptcy to the American shipping community, as well as global supply chains, was examined closely by the Federal Maritime Commission during the closed session of the September 20, 2016 public meeting. Commissioners were briefed by staff from the Office of the General Counsel; the Bureau of Trade Analysis; the Bureau of Enforcement;…
Sirius Orders Two Oil/Chemical Tankers
Sirius Shipping AB has ordered two oil/chemical tankers with the latest technology and in compliance with future rules and regulations, such as Tier III, at Avic Dingheng shipyard. This is the 5th project that FKAB signes in less than a year, on a tanker project.The design is developed in cooperation between FKAB and Sirius and it started already in 2012, under the name “EVOlution.” The design with a gas-ready two-stroke engine…
Shell Loads First LNG Vessel at Gate Terminal
Shell loads first LNG vessel, using new LNG fuel infrastructure at Gate terminal. The new LNG fuel infrastructure included the construction of a new berth. This new berth has now started operations. The loading of Shell’s chartered LNG vessel, the Coral Methane happened on September 19th. In July 2014, Shell took the Final Investment Decision to buy capacity at the Gas Access to Europe (Gate) terminal…
S.Korea: Hanjin Cash, Parent Support Should Cover Offloading Fees
Cash from top shareholder, executives should cover offload costs. South Korea's government said cash held by Hanjin Shipping Co Ltd and funds pledged by its parent group should meet the costs of unloading some $14 billion in cargo stranded on vessels operated by the troubled container line. The collapse of South Korea's biggest shipping operator late last month has plunged the shipping industry into…
VLCC Rates Under Pressure in Oversupplied Market
Owners face difficulty raising rates due to discounted ships. Freight rates for very large crude carriers (VLCCs) are likely to remain under pressure next week as charterers drip-feed cargo in the face of surplus tonnage, shipbrokers said. "The market is going sideways. Owners are trying to lift rates but it is very difficult because there are a lot of discounted vessels available," a European supertanker broker said on Friday.
India Proposes New MCA for Port Sector
India's Shipping Ministry on Thursday proposed a new model concession agreement (MCA) to attract more private sector investments in the development of port infrastructure. The proposed MCA will replace the existing agreement which came into existence in January 2008. "The proposed MCA has taken into account the suggestions provided in various reports by Member Planning Commission (2010), Indian Ports Association (IPA-2015) and Kelkar Committee Report (2015)…
Ex-chairwoman of Hanjin Under Scrutiny
The former chairwoman of bankrupt Hanjin Shipping Choi Eun Young is under investigation for alleged insider trading BBC reports qoting South Korea's Financial Supervisory Service. She has come under scrutiny after it was revealed she sold all her shares in the firm days before it filed for a debt restructuring programme in April. Ms Choi and her two daughters sold shares worth 3bn won ($2.7m, £2.1m) in April. She left the company in 2014.
COSCO Sees Piraeus in Top Thirty by 2018
COSCO Shipping, plans to ramp up container volume at Greece’s biggest port in Piraeus by 35 percent by 2018, the port’s new managing director, Fu Cheng Qiu, said, reports Reuters. China's biggest shipping company, which owns the world's fourth-largest container shipping fleet, bought 51 percent of the port's operating company last month for 280.5 million euros ($315.5 million), one of Greece's biggest and most strategic privatizations since a debt crisis began in 2009.
Pavilion Energy, ExxonMobil Join on Singapore LNG Bunkering
Pavilion Energy Pte Ltd (Pavilion) and Exxon Mobil Corp. (ExxonMobil) will work together to develop liquefied natural gas (LNG) bunkering in Singapore, as well as other downstream projects, reports the Straits Times. Both companies will also look at developing other downstream projects here, said Pavilion Energy chief executive Seah Moon Ming. The downstream sector typically refers to the processing and selling, or distribution of gas.
Alaska, ConocoPhillips Eye JV to Market LNG
The state-owned Alaska Gasline Development Corp. (AGDC), and ConocoPhillips Alaska Inc. have executed a memorandum of understanding (MOU) to form a joint venture company (JV) to market liquefied natural gas (LNG) from the Alaska LNG project. AGDC said the joint venture would also focus on buying North Slope gas and pursue support of other major North Slope producers in the formation. The JV's ultimate goal is to bring global LNG buyers and North Slope wellhead sellers together.
Philly Shipyard Lays Keel for Kinder Morgan Product Tanker
Philly Shipyard, Inc. (PSI), the wholly-owned U.S. subsidiary of Philly Shipyard ASA, held a ceremonial Keel Laying for the third product tanker in a four vessel order for American Petroleum Tankers (APT), a Kinder Morgan, Inc. subsidiary. Keeping with long held shipbuilding tradition, coins were placed on one of the keel blocks before the 650 ton unit was lowered into place in the dry dock. Representatives…
Toll to Build Two New Ships
Toll Group announced it is investing $170 million to build two new ships to support trade between Victoria and Tasmania and to meet the demands of continued growth. The new, purpose-built ships, operating between Burnie, Tasmania and Melbourne, Victoria, will provide 40 per cent more freight capacity, more opportunities to transport refrigerated freight for Tasmania’s growing chilled export market and more flexibility for customer deliveries.
Fincantieri, CSSC Ink Chinese Cruise Ship Deal
During the 11th annual “China Cruise Shipping and International Cruise Expo”, which started today in Tianjin, Fincantieri and China State Shipbuilding Corporation (CSSC), signed a non-binding agreement with Carnival Corporation and CIC Capital Corporation (CIC Capital) for the construction of the first new cruise ships to be built in China for the Chinese market. The understanding is subject to several conditions, including the closing of the joint venture and the financing.
Cross-Bay Ferry Plan Unveiled
With anticipation high for a St. Petersburg/Tampa ferry service, organizers of the project today announced an exciting set of launch events, including a series of runs for supporters to “Test the Waters,” plus a striking new logo and a formal name: The Cross-Bay Ferry. Beginning today, potential passengers and partners can now go right to the source for more information about the ferry at CrossBayFerry.com. “Everywhere I go, people ask me about the ferry,” said St.