NYK earmarks 1.38 trillion yen investment to expand fleet JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers
Daily Freight
Freight rates to rise in Q2: analysts A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.
Port Shots
Port Shots YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.
NYK earmarks 1.38 trillion yen investment to expand fleet JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers
Daily Freight
Freight rates to rise in Q2: analysts A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.
Port Shots
Port Shots YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.
NYK earmarks 1.38 trillion yen investment to expand fleet JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers
Daily Freight
Freight rates to rise in Q2: analysts A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.
Port Shots
Port Shots YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.
Rotterdam fuel oil eases from 25-year high Softer crude futures overnight and in today's trade saw benchmark European fuel oil prices slip today after hitting a 25-year high on Tuesday.
Russian oil product export duty to hit new high The Russian government has decided to raise customs and export duty on oil products, including fuel oil and gas oil widely exported to European bunker markets.
US crude stocks rise as products dwindle The latest US oil inventory data show solid gains for crude, while stocks of key products fell sharply last week.
Double-digit gains for Saudi posted prices
Reports: Human factor cannot be ignored in spills Despite increasingly stringent regulations regarding hull construction and the like, reports have reiterated that the human factor can lead to spills whatever the level of protection.
Crude prices continue decline after yesterday's plunge Crude oil traded on the New York Mercantile Exchange continued to decline in after hours trading today after yesterday saw the biggest decline in six weeks.
Cautious Evergreen to drip-feed yards with post-panamax orders NEW one-at-a-time 'piecemeal' orders for 7,000 teu containerships may be placed with Mitsubishi Heavy Industries by Taiwanese liner shipping and transport group Evergreen from 2007 if economic conditions are favourable, says Evergreen chairman Chang Yung-fa.
Japan calls for anti-piracy network JAPANESE Prime Minister Junichiro Koizumi has called for Asian countries to set up a co-operative framework to combat piracy.
Grimaldi cements Fincantieri ties with $470m four-plus-two ferry contract Grimaldi Group Naples has strengthened its long ties with Fincantieri by ordering another four ships from the state-owned Italian shipbuilder and putting options on a further two.
Cruise cancelled as pod woes come back to haunt Celebrity PROBLEMS with podded propulsion aboard the cruiseship Infinity have returned for a sixth time to haunt Celebrity Cruises, writes Hugh O'Mahony.
Huge new Russian port plan suspended A BILLION-dollar plan to build a new Russian port between the Azov and Black Seas has been halted by bickering between the regional government and chief project contractor
Spill after barge hits bulker A barge struck the Singapore-registered bulk carrier Maritime Wisdom at Panaji Port in Goa, India, today, causing an oil spill
Mobile collision being investigated COAST Guard investigators are today probing Monday's collision between a Singapore-flagged bulker and a barge in the Mobile, Alabama ship channel
Loss of hazardous objects bill FIVE US congressmen have introduced a bill to compel mariners to report hazardous objects lost overboard
NY/NJ terminals trim free storage time Demurrage fees also rising as operators fight growing congestion in Port Newark (left) amid continuing surge of box traffic.
Cosco Pacific shifts focus to Nansha with Shekou sale Cosco Pacific said today that it had agreed to sell its stake in Shekou Container Terminal (SCT) to China Merchants Holdings (International) (CMHI) to concentrate on developing Nansha Port.
FEFC lines look to recover soaring costs Far Eastern Freight Conference (FEFC) lines confirmed today that they would be looking for a US$250/TEU increase on April 1 as announced in the conference business plan last year.
Charter standoff as owners await developments
China Merchants focuses on ports as profit driver
Kremlin to maintain 'Closely watched trains' theme
Rising charter costs take its toll on Sinotrans
Evergreen celebrates launch of its first super post panamax
Another bulk carrier grounded in Danish waters Another bulk carrier has taken ground while passing through Danish waters. In the early hours of Tuesday this week a ...
EU rejects massive critique on criminalisation It is not a question of criminalising all seafarers when an oil spill occurs', says the EU Commission. The massive ...
Partnership charters another three drilling rigs A partnership of Statoil, Hydro, Shell and ENI has chartered another three drilling rigs for 5 years and 1 year ...
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