UPS cuts Q1 outlook, citing lower volume, fuel A weakening US economy, reduced domestic package volume and significantly higher fuel costs prompted UPS Inc to cut its first-quarter earnings forecast, two weeks before it releases its results for the January to March period.
Tanker rates set to halt 7-day fall The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may halt seven days of declines as refuelling prices traded near a record, reducing the incentive for owners to lease their carriers.
North Carolina expedites plans for deep-water port North Carolina is moving ahead with plans for a US$2.3 billion, deep-water port near the mouth of the Cape Fear River and officials expect to have a funding strategy in place by year's end.
HSH Nordbank rides out sub-prime crisis BANK has increased profits and new business in ship financing over the past year.
Melchiors moves to IACS FORMER BIMCO Secretary-General to become the Permanent Representative of IACS to the European Union.
Keeping watch over Norway's maritime course NORWEGIAN Trade and Industry Minister Dag Terje Andersen talks about the government's vision for the maritime sector.
FFAs out of whack FORWARD Freight Agreement (FFA) rates have widely diverged from rate forecasts built into public shipping company estimates, creating a potentially lucrative pair-trade opportunity.
Carnival hits back with new fuel levy CARNIVAL Cruise Lines has increased its fuel surcharge by 40%, just a week after agreeing with the Florida Attorney General to refund retroactive fees
HSH profits crushed by sub prime losses LEADING shipping bank HSH Nordbank saw a 65% net profit meltdown to €285M last year, due to massive investment losses on mortgage-backed securities
Basham pulls plug on GTX US CUSTOMS & Border Protection has shelved plans to launch a global trade exchange that would warehouse trade data for the US and other national governments
Boxship crew wins safety award JONES Act carrier Horizon Lines has received the AMVER-Assisted Rescue at Sea Award for the efforts of one of its crews
Reyes replaced as Mexican maritime boss QUESTIONS are being asked in Mexico City today over the future of the country's port development after Cesar Patricio Reyes Roel was replaced this week as the country's maritime boss.
Exporters battle delays, box shortages U.S. shippers are whipsawed as high export volumes and lower liner capacity in U.S. trades reduces available space for outbound container cargo.
Pelosi seeks rule change to defy Bush on Colombia
ILWU earnings fall for first time in 20 years
Customs won't develop GTX trade data warehouse
Census official: Export e-filing rules still pending
Environmentalists block part of Port Everglades plan
Shipping grows at HSH Despite a writedown from subprime mortgage exposure, HSH Nordbank's earnings from shipping jump by nearly 40%.
BW Gas case settled Spanish city council says it has reached an out-of-court settlement over a spill from the Berge Frost.
Royal hires newbuilding head Royal Caribbean Cruises puts a maritime industry veteran in a new role overseeing the newbuildings program.
Bridge bash pilot's D&D past Cosco Busan pilot was convicted of driving under the influence and took medication which may have harmed his concentration.
Carnival reaching for more After refunding some fuel surcharges, Miami- and London-based cruise giant plans an increase.
Pacific Carriers fined Singapore owner's Pacc Ship subsidiary pleads guilty and pays out a $1.7m criminal fine for two MPP's oil discharges.
Mordashov doubles TUI stake One of John Fredriksen's allies at the German group takes his holding beyond 10%.
Apollo preps New York IPO Private equity with cruise industry interests plans for a $418m with a New York Stock Exchange listing.
Cosco Corp snuffs rig order Norwegian owner Red Flag has rig hull contract at Cosco Zhoushan pulled after no deposit was paid.
Rickmers gets cash Singapore-listed shipping trust has netted loans for over $600m to cover the cost of nine newbuildings.
Finland out of Aker race Baltic state will not be part of a European consortium aiming to block STX's take-over at the Oslo-listed shipbuilder.
Odessa makes tanker spill arrest Reports indicate owner of chemical tanker already served with $1.7m claim after alleged leak at Black Sea port.
Ezra results edge up Singapore-listed offshore vessel operator has reported a 3% increase in year-on-year net profits.
Three's lucky for Cosco Corp On day Singapore-listed yard group announced rig order cancellation, Dane and American sign for tankers and offshore unit.
CNR stretches Solstad deal Charterer snaps up one year extension on 1998-built platform supply vessel.
Yantai profits up 75% Chinese shipbuilder rides newbuilding boom with promise of better to come in 2008.
Alam wins extensions Malaysian offshore vessel operator has won three year extensions for anchor handler charters.
Swedish employers issue notice of lockout The Swedish Shipowners' Employers' Association has issued a notice of lockout as a reply to the notice of strike filed by the Swedish officers unions on Tuesday. The lockout will enter into force on 18 April at noon if the ...
Rosella to replace Ålandsfärjan Viking Line transfers the ferry Rosella to the Mariehamn ' Kapellskär service. On her present route between Helsinki and Tallinn the Rosella will be replaced by the newbuilding Viking XPRS in the end of April. The Rosella enters the service across ...
Oman fuel oil parcels 'unlikely' to find Asian buyers Problems with residual fluid catalytic cracker put three fuel oil cargoes on market for April loading.
Oil above $111 on bullish US inventory report
Bunker market report from Praxis
INTERTANKO's goals 'fully achieved' at IMO Says its 2006 proposal became a catalyst in reaching 'historic agreement' on revisions to MARPOL Annex VI.
Energy sector concerned about low sulphur availability IMO bunker fuel sulphur reduction targets are unlikely to be met in full, warns oil industry association.
SECAs becoming ECAs New name signifies that sulphur is not the only aspect of shipping emissions that can be capped.
New employee at Global Risk Management
New barge sets Durban delivery record Double-hull new-build records 'fastest' bunker delivery.
Rotterdam market stable
Oil to stay above $100 a barrel: US forecast US-based EIA predicts firm oil prices on tight global supplies.
Indonesia urged to provide fuel subsidies Subsidies for fishing boats fuel have become 'urgent', state council says.
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