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Typhoon Meranti – the most powerful storm to hit southern China since the Communist Party took power – drove multiple vessels aground, into piers or loose from their moorings as it passed, with multiple marine casualties reported in Xiamen and Taiwan. – The container ship Gan Tai Tai Zhou dragged anchor off Xiamen and went… Read More
German banks are struggling to recoup tens of billions of dollars of loans as a global shipping industry slump hits them hard. The lenders – among the biggest backers of shipowners over the past 20 years – are behind up to a quarter of the world’s $400 billion of outstanding shipping loans, three shipping financiers… Read More
Small ports across the nation, like those in Chinook and Ilwaco, are on the cusp of a major victory in Congress that could give them more reliable access to federal dredging and harbor maintenance funds. Washington’s two U.S. Senators, Patty Murray and Maria Cantwell, announced Thursday that they have secured critical reforms to the Harbor… Read More
Kenya Ports Authorityis preparing to tender for the proposed Sh12.1 billion Kipevu Oil Terminal relocation project in Mombasa, managing director Catherine Mturi-Wairi has said. This moves the authority closer to selecting a firm which will oversee construction of the new terminal. “Detailed designs are already in place, prequalification process has been completed and a consultant… Read More
The International Longshoremen’s Association is refusing to load Hanjin Shipping containers aboard ships or allow Hanjin boxes to leave US East and Gulf Coast terminals, citing concerns about unpaid royalties and other financial obligations to the union. Multiple ILA and terminal sources said the action is directed mainly at Hanjin’s payment of container royalties, the… Read More
Shipping restructuring specialists speaking at the Capital Link New York Maritime Forum on 13 September predicted that Hanjin Shipping will ultimately be liquidated, not rehabilitated. “Clearly, it’s not ‘too big to fail’, because the Korean government did not want to pump capital into what could be considered a mismanaged company for a very long period… Read More
Rivers and canals in the southwestern region are becoming depleted as they are not regularly dredged and cleared, and are encroached upon by people’s housing. There are 26 seaports, big and small in Mekong Delta. The dredging capability and canal network in the region are factors that determine the scale and capacity of the ports…. Read More
New hydrographic boat purchased to combat sediment through future dredging operations The Port of Saint John has a new vessel which will allow it to continue mapping the ocean floor in order to tackle the tricky task of removing two constant sources of sediment. The hydrographic survey vessel, named the Tide Line, cost the port… Read More
Indonesian President Joko Widodo inaugurated an expansion of the country’s main seaport in Jakarta on Tuesday, a facility upgrade that will cut the time container ships must spend waiting to load or unload. “We cannot delay the development of modern ports any longer. This supports trade flows and investment in this country,” President Widodo said… Read More
Berrien County will no longer be responsible for planning the dredging of harbors after this year, county Commissioner Bill Chickering told St. Joseph city officials Monday. He said there is “a little sense of urgency” as county commissioners expect to vote next month on whether to dissolve the Harbor Authority as of Jan. 1 and… Read More
Coastal shipping in India is facing several problems, including higher expense per tonne in comparison to road and rail. The Modi government’s ambitious Sagarmala project needs to address these issues on a priority basis. Experts believe that the problems beleaguering the sector are due to high taxes and lack of finances. Managing Director of Link… Read More
When is it time to send your ship to the graveyard? It is always a financial decision whether to lay-up a vessel or sell it to a ship-breaking yard. In recent years it has become a more frequently made decision, but how do you sell a ship for scrapping or laying-up? (Extended coverage from Marine… Read More
“I am big. It’s the pictures that got small,” protests the ageing silent film star Norma Desmond in Sunset Boulevard. The same could be said about global trade by Maersk Line and other shipping companies whose gargantuan container vessels make their way between Asia, the US and Europe part empty. The bankruptcy of Hanjin Shipping,… Read More
A Hanjin Shipping Co Ltd (117930.KS) vessel is finishing unloading in California and scheduled to leave port on Monday, shipping industry officials said, as shareholders and executives associated with the South Korean firm pledged funds to help resolve the turmoil created by its collapse. The Hanjin Greece docked in Long Beach on Saturday after a… Read More
Plans are underway along the East African coast to expand existing maritime terminals and to develop new terminals, in particular along the Kenyan and Tanzanian coasts. Infrastructure developments including dredging operations and rail links, could make a significant difference to the economic outcomes. While development of a new terminal located to the northeast of Mombasa… Read More