News

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  Panama Canal Floats New Toll Structure Proposal

  The Panama Canal Authority (ACP) has made a proposal for a new toll structure, following more than a year of informal consultations with representatives from various industry segments.

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  Federal Mediator to Jumpstart West Coast Contract Dispute

  The International Longshore and Warehouse Union (ILWU) and Pacific Maritime Association (PMA) have agreed to federal

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  Update: Bombed Tanker Headed to Greece

  A Greek-owned tanker that was bombed by a Libyan military fighter plane January 4 while moored in the Port of Derna,

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  Sillamäe Gas Terminal Plans Scrapped

  Plans to construct the EUR 500 million Sillamäe gas terminal in Estonia have been abandoned due to ongoing sanctions imposed by the European Union against Russia, as reported by Estonian daily Postimees.

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  Salvors Abandon Today’s Refloating of Hoegh Osaka

  Plans to attempt to refloat Hoegh Osaka today have been scrapped by the Svitzer salvor team following the completion of calculations last night, the UK Maritime and Coastguard Agency said in an update.

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  Clipper and Genco Launch New Supramax Pool

  Copenhagen-headquartered dry bulk shipping company Clipper has teamed up with Genco Shipping & Trading Limited to form the Clipper

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  Strike Resumes at Chile’s San Antonio Port

  Strike at Chile’s San Antonio port entered its fourth day on Tuesday with dock workers refusing to unload ships of the port’s concessionary company Puerto Central, writes Chilean newspaper El Economista.

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  HHI Workers Turn Down Wage Deal

  Workers at South Korean shipbuilder Hyundai Heavy Industries (HHI) voted down a tentative wage agreement with the company’s management on Wednesday.

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  Shippers to Gain Most from Low Oil Prices

  With crude oil down to its lowest price in five years last week, all carriers stand to gain from lower fuel costs, but the competitive and over-supplied nature of the market

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  Demand for Tankers Outstripping Supply

  Stronger freight rates in the tanker market may bring about some positive trends for the first quarter of 2015, if lower oil prices can continue to generate higher demand for product tankers, BIMCO said.

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  OPDR Launches New Sweden to Spain Service

  The Hamburg-based short sea container carrier OPDR has started a new service from Sweden to Bilbao via Rotterdam, according to the Port of Rotterdam Authority.

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  Maersk Broker Joins Forces with Lightship Chartering

  Just over two weeks after announcing plans on considering merger opportunities, broker firm Maersk Broker decided to merge its operations with Danish counterpart Lightship Chartering.

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  DSME Bags Six LNG Carriers

  South Korean shipbuilding giant Daewoo Shipbuilding and Marine Engineering (DSME) has secured an order for construction of six LNG carriers worth approximately USD 1.24 billion.

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  US Ups Oil Spill Liability Cap

  The U.S. Bureau of Ocean Energy Management (BOEM) has administratively increased the limit of liability for oil-spill related damages from USD 75 million to approximately USD 134 million for offshore oil and gas facilities.

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  Tanker Investments Adds Six Suezmaxes

  Oslo-listed investment company Tanker Investments Ltd. has agreed to acquire six, modern Suezmax tankers for an en bloc purchase price of USD 315 million.

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  Asian VLCC Rates Jump to Nine-Month High

  Worldscale rates for hiring VLCCs to haul crude from the Middle East to Far East Asia hit a nine-month high Tuesday, December 9, Platts writes citing shipping sources.

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  NLNG Turns to Court for Protection

  Bonny Gas Transport Ltd and Nigeria LNG Ltd. have taken steps before the court in New York to protect their vessel LNG Finima and other assets from arrest stemming from OW Bunker bankruptcy case.

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  Image of the Day: Crowley’s Busy Bee

  This amazing photo presents you with one of Corwley’s tugs, named Chief, while working on the Sitcum Waterway. The photo was captured at the Port of Tacoma on December 4th.

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  Final Gate for New Pacific Locks Transits Panama Canal

  All gates belonging to the new locks being added within the Panama Canal Expansion in the Pacific side have been transferred.

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  K Line Finds Work for Its Newly Ordered LNG Carrier

  Japan’s shipping company Kawasaki Kisen Kaisha, Ltd. (“K” Line) has signed a long-term time charter contract for a new 164,700m3 Moss type LNG carrier with domestic utility company Chubu Electric Power Co.

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  Vale Pens Cooperation Deal with Qingdao Port

  China’s Qingdao Port has inked an agreement with Brazilian mining giant Vale to establish a sister-port relationship with Vale’s Ponta da Madeira Port in order to boost iron trade between the two terminals.

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  OW Tanker Saves Its Assets through Alba’s Takeover

  OW Tanker A/S, a unit of Danish oil trader OW Bunker, has been taken over by Alba Tanker ApS

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  IMO Approves IGF Code

  IMO’s Maritime Safety Committee approved, in principle, the draft International Code of Safety

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  Stealthgas Snags Charters, Starts Shares Repurchase

  Athens-based Stealthgas Inc. has concluded chartering arrangements

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  Shell Facing USD 4 Bln Bonga Oil Spill Fine

  Oil major Shell might be facing a fine worth up to USD 3.96 billion

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  Tandara Spirit Crew End Their Sit-In

  The Australian crew of the product tanker Tandara Spirit decided yesterday to end their sit-in and to sail the vessel from Port Phillip Bay, the crew said in an open letter published by the Maritime Union of Australia (MUA).

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  CMP Investing in Malmö-Copenhagen Shuttle Service

  CMP said it was investing in a new type of daily shuttle service between Malmö

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  Rotterdam Sets Port Tariffs for Next Three Years

  The Port of Rotterdam says its port tariffs will rise in the coming three years at half the rate of the inflation percentage, by a maximum of 1% per year.

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  UASC Names First LNG-Ready Containership Giant

  United Arab Shipping Company (UASC) has named the industry’s

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  Ebola Turns Up the Heat on West Africa Trade

  West Africa trade continues to acutely feel the pressure of the Ebola outbreak

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  Port of Gothenburg to Boost Timber Volumes

  Sweden’s Port of Gothenburg is aiming to increase the volume of paper

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  Lower US Demand Reshuffles West African Crude Moves

  West African crude moves have shifted from the U.S. to Europe

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  TEN Rakes In

  Athens-based tanker owner and operator Tsakos Energy Navigation Limited (TEN)

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  Cruise Lines Deploying More Capacity in Asia

  The cruise industry continues to grow rapidly in Asia and many cruise lines are deploying more capacity in the region