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Ship & Bunker reported earlier this year that in 2012 there had been a 36 percent year-on-year rise in the number of ships arrested in Singapore. South Korean shipping company STX Pan Ocean has confirmed that its 72,940 dwt bulker New Irene was arrested in Singapore last week, Fairplay reports. A company representative told Fairplay [...] 
The operating cost for a Panamax vessel is $6,472 daily, according to Moore Stephens International, a London-based accountant. Hire costs for Panamax vessels, the largest to transit the Panama Canal, slumped to the lowest in three years and nine months, as a shortage of cargoes in the Atlantic Ocean region worsened an oversupply of ships. [...] Canadian National Railway plans to buy more than 2,200 railcars and 1,300 new containers this year to support growing bulk materials and intermodal traffic. The order comes after the largest Canadian railroad saw a 4 percent year-over-year rise in volume in the second quarter, which included a 13 percent jump in intermodal volume. The largest [...] The Panama Canal Authority is increasing the number of shipping segments from eight to ten that will have to pay the increased tolls from eight to ten. The containerised and breakbulk shipping sectors were to have been included in the ACP’s original toll hike proposal that was subsequently postponed until October 2012 and October 2013, [...] Daily rates for Panamax vessels, that typically haul coal and grains, plunged to the lowest in more than eight weeks as a glut of ships swamps the number of cargoes available for loading. Returns for Panamaxes, the largest size able to navigate the Panama Canal, lost 2.2 percent, sliding to $7,096 a day, the lowest [...] STX Group, Korea’s 14th-largest business group, said Thursday that it is considering selling assets to revive its worsening financial health amid the ongoing slowdown in the shipbuilding industry globally. “As part of our financial restructuring, we are discussing plans to directly list STX Energy and STX Heavy Industries or to sell off assets through [...]
Cosco has safety concerns about the Valemax vessels, which are almost as big as the Bank of America Tower in New York, Ma said. The miner’s plan to spend at least $8 billion on a fleet of 35 mega-ships has also hit shipowners’ earnings by creating new competition, and stoked tensions between Brazil and [...] Rates for ships that haul dry-bulk cargoes such as grain and coal advanced as demand to hire the vessels increased. Ship owners will have to contend with an increase in the dry-bulk fleet of 13.4 percent this year and 6.2 percent in 2013, according to a Wells Fargo report published today. Growth in the seaborne [...] In 2011, Baltimore was ranked 11th among 360 U.S. ports for dollar value of cargo and 12th for tonnage, according to U.S. Census Bureau statistics. Cargo volume at the port of Baltimore grew 15 percent last year, the largest increase of any major U.S. port, state officials announced. The port’s public and private terminals [...] The site of a former massive aluminum smelter could become a bulk goods terminal if the Port of Tacoma is successful with a new plan to attract iron ore and potash exports to the port. Port Chief Executive Officer John Wolfe told The News Tribune editorial board Tuesday that the 96-acre site at the northeast [...]
The 361-metre-long Vale Bejing is loaded with enough high-grade iron ore to make the steel for nearly three-and-a-half Golden Gate bridges. Were it to settle to the bottom at the Ponta da Madeira Port near Sao Luis, Brazil, the carrier could disrupt about a third of Vale’s 300 million tonnes in annual shipments of [...] Moody’s Investors Service set a negative outlook for the shipping industry over the next 12 to 18 months, saying the business from container carriers to bulk operators is facing overcapacity. The dry bulk sector will likely be hit hardest this year because the segment’s order book equals nearly half of the current capacity, with [...] The Jia Li Hai was attached as Classic Maritime Inc. seeks $2.7 million in fees and costs from Cosco unit Cosco Bulk Carrier Co., according to filings at the U.S. District Court in the Eastern District of Louisiana. Judge Lance M. Africk issued the warrant on Aug. 3. A China Cosco Holdings Co. ship [...] Developers of the Gateway Pacific Terminal must apply for an entirely new shoreline permit if they want to build a facility capable of handling up to 54 million tons of cargo a year, including coal. The decision from Whatcom County planners deals a setback to SSA Marine of Seattle, which proposes to build the terminal [...] Hanjin Shipping lost $28 million on container operations in the first quarter, compared with $23 million a year earlier, as rising fuel costs offset a 19 percent increase in container revenue. The carrier said it plans “extensive cost-cutting measures” to offset the impact of rising capacity and oil prices. Read the rest at the Journal [...] |
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