Falling freight rates to hit Thoresen Thai Thoresen Thai Agencies (TTA), Thailand's biggest dry bulk carrier group, said yesterday that a sharp drop in freight rates in the wake of the global credit crunch will hit its results in the next two years.
Keppel O&M invests more in training DESPITE the current uncertain economic outlook, Keppel Offshore and Marine (Keppel O&M) is gearing up for the future by stepping up its training capacity, providing places for 3,500 trainees a year at its Keppel O&M Training Centre and raising annual investment in training to $23 million this year.
United Air offers new baggage service United Airlines is teaming up with FedEx Corp to ship a passenger's bag overnight for as much as US$358 a round trip, betting that some customers will pay the higher cost to avoid taking luggage to the airport.
PIL and Wan Hai suspend Asia - Europe service PACIFIC International Lines and Wan Hai Lines are suspending their joint Asia - Europe service, and chartering slots from Cosco Container Lines instead.
Maersk Line tailors its services to meet demand
Dry bulk vessel resales grind to a halt THE DRY bulk second-hand sales and purchase market has dropped dead according to Asian operators and brokers.
Distorted picture offers best view of the industry WHILE most of the spate of third quarter results by European and US firms are still in the black, few expect that to be the case in the next quarter.
Unions, employers agree port reform Le Havre portFRENCH unions and employers signed an agreement over the country's port reform project today, sealing an end to months of industrial turbulence at French ports
Carnival to close Ocean Village CARNIVAL Corporation has decided to phase out its UK-based Ocean Village brand over the next two years
Riverboat fleet sale founders THE SALE of US riverboat operator Majestic America Line has been stymied by the credit crunch, confirmed owner Ambassadors International
Santos quarter totals defy global slump SOUTH America's biggest handler of containers, Santos Brasil, has posted results for the third quarter that defied the global economic doom and gloom
Eat smoke, pirates! SPAIN'S air force has thwarted a pirate attack on a tanker by dropping smoke bombs on the pirate ship, the defence ministry said today
FFA growth based on thinking small DERIVATIVE markets have an enormous potential for growth, Ian Staples of Freight Investor Services told the Mare Forum in Amsterdam this afternoon
Gulf Nav posts strong results DUBAI'S Gulf Navigation has recorded profits of nearly 93M UAE dirhams ($25.3M) for first six months of 2008, a growth of 95% over 47.6M for same period in 2007
Port of Los Angeles says FMC suit won't stop implementation of trucks program Port vows to maintain its licensing program for harbor trucking despite lawsuit seeking to block employee-driver requirement
FMC's Brennan lone vote against LA trucks lawsuit
Customs extends operations hours at Mexico land crossings
Seaspan still red Vancouver-based boxship owner still posts a net loss thanks to interest rate swaps, but fleet growth lifts adjusted profits.
Genco private? Peter Georgiopoulos does not rule out taking his bulker owner private as financial crisis brings "tremendous opportunities" for acquisitions.
Stocks stage rally Horizon Lines, ISC and Genco Shipping make huge gains, leading shipping stocks to outperform a rise on US markets.
ISC pays up As it reports profits growth, Niels M Johnsen-led International Shipholding Corp starts paying shareholders a dividend.
NYSE axes Brit New York Stock Exchange suspends trading in troubled Britannia Bulk and says the company will be de-listed.
Royal says adios Royal Caribbean pulls ship out of South America as moves toward closer-to-home sailings continue.
Dry opinions differ One analyst downgrades Diana and Eagle, while another upgrades those and more.
Samudera slumps Rising costs chop 12% from boxship player's third quarter bottom line, but revenue is on the up.
Salvors rescued Salvage appeal arbitrator sticks to his guns over higher award in 'rescue tow' of Economou capesize.
Storms can help Although hurricanes cut into Hercules Offshore profits, the liftboat environment could strengthened.
Turkish ship taken Somali pirates grab largest ship yet as 2007-built, fully laden panamax seized en route to China.
'We got deposits' Singaporean yard Cosco Corp makes a point of highlighting instalment payments for latest ship orders.
Pride in profits Raspino-led rig and drillship player sees 52% more earnings from continuing operations amid strong rates.
Hard times Japanese bulker owner Azuma sees earnings fall again in first half, despite higher revenues.
Up again Taiwan's First Steamship continues to bank bigger profit from bulkers this year.
Havila ups holding Offshore shipowner makes $1.30m swoop for its own shares claiming they are worth more than double their current price.
Bangladesh boot Asian country suspends CMA CGM's licence to trade from Chittagong just days before it was due to start new service.
Surf's up Bourbon AHTS staying with StatoilHydro as it scoops two contract extensions worth nearly $200m.
Cosco nets more Wei Jiafu-led China Cosco sees profit jump 18% in third quarter as larger bulker fleet offsets a crash in domestic container income.
Magic pipe fine Greek bulker operator Genesis Seatrading and Maltese owner Casilda Shipping plead guilty in oil dumping case in Oakland.
Crew rescued Russian cargoship grounds off Finland, but 12 crew evacuated safely by helicopter.
Asian fight-back Cosco, NYK and HHI set the pace as shipping stocks rebound in Hong Kong, Tokyo and Seoul.
Dutch smash Boxship and general cargo vessel suffer minor damage in collision off Netherlands.
FOE edges ahead Strong offshore market sends revenues up at Fred Olsen Energy but financials keep profit in check.
Iino rises Japanese tanker and bulker owner boosts first-half earnings and expects continued profitability for the rest of the year.
QM2 murder Crewman arrested on suspicion of strangling ex-girlfriend on UK liner while docked in Hamburg for repairs.
Genmar motors US-listed aframax and suezmax operator sees year-on-year profits jump on higher charter rates.
HHI down a third Large leap in sales not enough to buoy Hyundai Heavy as hefty steel costs gnaw at bottom line.
Bourbon better French owner is creaming returns from its offshore operation to offset slump in dry-cargo revenue.
Philly "on plan" US shipbuilder Aker Philadelphia continues to make operating profit from 12-ship series for ACS in first three quarters.
Sasebo soars Japanese shipbuilder posts big profit jump in first six months as revenues climb.
Kirby cranks it up US-listed tank-barge player reports record result for third quarter despite hurricane disruptions.
Genco boosted Peter Georgiopoulos-led bulker outfit sees profits jump nearly four-fold on fleet additions.
EU parliament acts to criminalize piracy The EU Parliament transport committee has presented a resolution where piracy should be considered a criminal act. Today, it is defined as an act of war and this makes it difficult for armed forces to arrest pirates and bring them ...
Norden postpones housewarming party due to crises Dampskibsselskabet Norden has decided to postpone their housewarming party in the new office building, the brewhouse of the former brewery Tuborg in Tuborg havn in Copenhagen. Due to the current collapse on the dry cargo market and the world wide ...
DFDS Seaways offers free transportation for stranded Sterling passengers DFDS Seaways has offered free transportation to Denmark for passengers that have been caught up in the bankruptcy of the airline company Sterling Airlines A/S. The airline company filed for bankruptcy Wednesday, leaving several thousand passengers stranded in London ...
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