Breakbulk & Projects

Surplus cash costs weigh on earnings of German transport bank DVB

Reuters | March 05, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

German transport bank DVB's 2014 net profit fell 23 percent partly due to the cost of holding surplus cash as borrowers repaid loans faster than the lender could attract new business, Chief Executive Wolfgang Driese said. Read More »

Shipping industry faces shake up as private equity unwinds bets

Reuters | March 05, 2015 | Breakbulk & Projects | Breakbulk

As global shipping grapples with its worst downturn in 30 years, private equity firms are unwinding massive bets made on the sector in a move set to accelerate a restructuring of the shipping industry. Read More »

U.S. Senate fails to override Obama’s veto of Keystone XL approval

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Energy | Pipeline

The U.S. Senate failed on Wednesday to override President Barack Obama’s veto of legislation approving the Keystone XL oil pipeline, leaving the controversial project to await an administration decision on whether to permit or deny it. Read More »

Port Hedland iron ore exports to China up in February

Reuters | March 04, 2015 | Breakbulk & Projects | Breakbulk | Liner Shipping

Exports of iron ore to China through Australia’s Port Hedland terminal rose 0.3 percent in February from January, official figures show, though the month had fewer shipping days. Read More »

Sri Lanka threatens Chinese firm with legal action to stop project

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Liner Shipping

Sri Lanka will take legal action against a Chinese firm for not halting work on a $1.5 billion luxury real estate project until a probe is completed, a government minister said on Wednesday. Read More »

BG Group sees its Australian project helping to double LNG supplies

Reuters | March 04, 2015 | Breakbulk & Projects | Projects | Energy | Maritime

A smooth start to operations at BG Group’s Australian project in Queensland is expected to help the British company to roughly double its liquefied natural gas (LNG) supplies in 2015/16, it said on Wednesday. Read More »

Next generation U.S. Navy patrol boats move through JAXPORT’s dedicated heavy lift dock

AJOT | March 03, 2015 | Breakbulk & Projects | Projects | Ports & Terminals | Ports

Highly trained master riggers at Portus recently moved the first shipment of next generation SAFE Boats Mk VI Patrol Boats purchased by the U.S. Navy through the heavy lift and specialty cargo berth at JAXPORT’s Blount Island Marine Terminal, one of the nation’s highest weight-bearing capacity docks. Read More »

Crowley transports two massive 98,000-pound electrical equipment enclosures to Puerto Rico

AJOT | March 03, 2015 | Breakbulk & Projects | Projects

Crowley Maritime Corporation’s liner services group recently transported two massive electrical equipment enclosures with a combined weight of 196,000 pounds to San Juan, Puerto Rico Read More »

United Yacht Transport adds vessels for higher than expected demand in North America

AJOT | March 01, 2015 | Breakbulk & Projects | Projects

With three confirmed vessels so far in March, United Yacht Transport is continuing to grow its position as the leader in North American yacht transport. Read More »

Golden Ocean posts Q4 net loss hit by impairments

Reuters | February 27, 2015 | Breakbulk & Projects | Breakbulk

Dry bulk shipping firm Golden Ocean posted a wider fourth-quarter net loss than expected hit by impairments, and said the weak market conditions would continue to affect its earnings. Read More »

Commodities shipping crisis adds to loan woes for Greek banks

Reuters | February 26, 2015 | Breakbulk & Projects | Breakbulk

The global slump in demand for dry freight commodities is adding more pain to Greece's already crisis-hit banks by heaping pressure on many of their shipowner clients, particularly the smaller companies. Read More »

Asia Dry Bulk-Capesize rates could improve but tonnage glut weighs on market

Reuters | February 26, 2015 | Breakbulk & Projects | Breakbulk

Rates for capesize bulk carriers, which are close to six-year lows, could show only slight improvement next week as the glut of available tonnage may outweigh any uptick in chartering after the end of the Lunar New Year holiday in China, brokers said. Read More »

WesPac Midstream signs construction contract to build LNG bunker barge In North America for TOTE

AJOT | February 25, 2015 | Breakbulk & Projects | Breakbulk

WesPac Midstream LLC (WesPac), a leading provider of energy infrastructure and liquefied natural gas (LNG) solutions, and its affiliate Clean Marine Energy LLC (CME), the global facilitator of tailored solutions for Emission Control Area (ECA) compliance, announced today a construction contract with Conrad Orange Shipyard, Inc., a division of Conrad Shipyard, LLC, to build the first dedicated LNG bunker barge for the marine market in North America. Read More »

Successful year end for Terex® Gottwald mobile harbour cranes

AJOT | February 23, 2015 | Breakbulk & Projects | Projects

December orders include cranes for terminal operators from all over the world - Terex Port Solutions to deliver G HMK 7608 to Roberto Bucci S.p.A.’s Terminal in Naples Read More »

Louis Berger JV awarded $79 million project management contract for Doha Metro

GlobeNewswire | February 22, 2015 | Breakbulk & Projects | Projects

The Louis Berger Egis Rail Joint Venture has been commissioned by Qatar Railways Company to provide project management consultancy services for all elevated and at-grade sections of the Doha Metro project. The contract is valued at $79 million. Read More »

Recycling Industry’s response to West Coast Ports agreement

GlobeNewswire | February 21, 2015 | Breakbulk & Projects

In response to the tentative agreement between the International Longshore and Warehouse Union and the Pacific Maritime Association, Robin Wiener, president of the Institute of Scrap Recycling Industries (ISRI), released the following statement: Read More »

Weak vessel demand keeps Baltic index at record lows

Reuters | February 18, 2015 | Breakbulk & Projects | Breakbulk

The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry bulk commodities, hit another record low as demand for vessels fell ahead of the Lunar New Year holiday. Read More »

Second dry-bulk shipper files for bankruptcy as rates tumble

Reuters | February 18, 2015 | Breakbulk & Projects | Breakbulk

A second dry cargo shipper has filed for bankruptcy following a collapse in freight rates that has forced many companies to idle vessels used to haul iron ore, coal and grain rather than hire out the ships at a loss. Read More »

Aal Bolsters Pacific expansion plans with industry award win in Canada

AJOT | February 17, 2015 | Breakbulk & Projects | Projects

The award win follows a sustained two-year period of investment and development for AAL in the Pacific region, which has seen the establishment of its AAL Pacific Service, overseeing a unique combination of regular liner shipping and tailor-made tramp solutions for cargo transportation to destinations worldwide. Read More »