TNT Express expects over 20% growth in its Asia business BANKING on its strategy paying off, TNT Express expects over 20 per cent growth in its Asia business this year despite the global downturn.
Dry bulk stocks in choppy seas on charter risk Investor fear of charter counterparty risk and weakness in freight rates may continue to weigh on the dry bulk shipping stocks in the near term.
Gains in Baltic Dry Index slow down The Baltic Dry Index, a measure of shipping costs for commodities, gained the least in three sessions and forward contracts for hauling iron ore slumped amid speculation steelmaker demand for the raw material will wane.
Three groups bid for US$3.35b Panama Canal project
Kuehne & Nagel's Q4 profit up 7%
Maersk to raise rates for some routes
Port Shots
Portshots Singamas Container Holdings said yesterday it planned to sell about HK$492 million (S$98 million) worth of new shares at a discount, raising capital to repay part of its bank loans.
TNT Express expects over 20% growth in its Asia business BANKING on its strategy paying off, TNT Express expects over 20 per cent growth in its Asia business this year despite the global downturn.
Dry bulk stocks in choppy seas on charter risk Investor fear of charter counterparty risk and weakness in freight rates may continue to weigh on the dry bulk shipping stocks in the near term.
Gains in Baltic Dry Index slow down The Baltic Dry Index, a measure of shipping costs for commodities, gained the least in three sessions and forward contracts for hauling iron ore slumped amid speculation steelmaker demand for the raw material will wane.
Three groups bid for US$3.35b Panama Canal project
Kuehne & Nagel's Q4 profit up 7%
Maersk to raise rates for some routes
Port Shots
Portshots Singamas Container Holdings said yesterday it planned to sell about HK$492 million (S$98 million) worth of new shares at a discount, raising capital to repay part of its bank loans.
Kuehne + Nagel: record result in 2008 ' despite financial crisis Kuehne & Nagel (K+N), the Schindellegi (Switzerland)-based forwarding and logistics corporation, posted record sales and profit results in 2008, despite a marked slowdown in the se...
Fercam inaugurates new branch in Vienna The global logistics and transport company Fercam, based in Bolzano (Italy), opened an office in Vienna on 2 March. The facility is Fercam's second in Austria. The service provider...
Swisslog to build cigarette warehouse in China The Chinese cigarette producer Hangzhou Cigarette Factory has contracted Swisslog to design and implement a new production plant with automated logistics processes. The deal is wor...
X-press Container Lines launches new weekly Rotterdam-Liverpool service X-press Container Lines (UK) Ltd is about to launch a new weekly container service from Rotterdam to Liverpool Freeport. The first sailing is scheduled for 12 March....
Newbuilding L 216 named at Odense Steel Shipyard Odense Steel Shipyard (Denmark) named its latest newbuilding, a 7,000 teu containership, for the Danish A.P. Moller-Maersk Group on 28 February. The "Mathilde Maersk" is the l...
Bayernhafen group registers solid growth in 2008 The German port group Bayernhafen registered solid growth in 2008, despite seeing signs of the looming economic crisis. The group's six locations - Aschaffenburg, Bamberg, Nurember...
Bloated bulker orderbook 'spells disaster' for shipping markets HOWE Robinson warns of "wave of destruction for banks to rival the sub-prime crisis".
'Pitch black' horizon for capesize newbuildings
Fredriksen set to come to rescue of Golden Ocean JOHN Fredriksen's offer to buy majority of $200m bond issue could help prevent company be in breach of covenant.
SEAS loops from Asia combined CMA CGM said today it would combine its two loops from Asia to the East Coast of South America
Hapag halts on forwarder commission GERMAN container line Hapag-Lloyd has delayed the proposed abolition of forwarder freight commissions following talks with the German Committee of Freight Forwarders
US biofuels hit by EU tariffs US BIOFUEL companies will be taking a blow, as European governments have decided to impose duties on such exports to the EU
EC-Warsaw yards tiff reported THE EC competition spokesman told Fairplay today that the commission is exchanging correspondence with Warsaw about the sell-off of the Gdynia and Szczecin yards
Box bankruptcies, then recovery RECOVERY in the box ship sector is a long way off but on the way, Urs Dur, VP at Lazard Capital Markets, assured the Marine Money Conference in Dubai today
Dredging co-operation seen GREENS are working together with the dredging sector to achieve engineering projects while also maintaining habitats, the British section of the Central Dredging Association has heard
Thank you, China US-listed bulker owner shares surge Wednesday, with eight players jumping by more than 20%, as China preps further stimulus measures.
Barge owner flat American Commercial Lines quarterly profits barely move but beat expectations.
Blue Star freed After two months in pirate hands, first ship hijacked in 2009 is freed.
Golden ticket John Fredriksen comes to Golden Ocean's rescue, turning on the cash tap with offer to buy two thirds of $200m bond issue.
Two become one Four liner operators consolidate loops on service between South America and Asia, cutting capacity by 35%.
Eagle upgraded Cantor Fitzgerald takes "sell" label off Nasdaq-listed Eagle Bulk Shipping's stock.
NATS' divi pledge Herbjorn Hansson vows to keep churning out dividends while it is making a profit.
GSL reports loss But Ian Webber-led containership owner Global Ship Lease sees cash profits beat Wall Street forecasts.
Tallink mixed Estonian ferry group's passenger volumes rose 15% in second quarter, but freight volumes took a battering.
Kherson edges up Ukrainian shipbuilder, which also controls the Chernomorsky yard, posts narrow profit increase for 2008.
Heroic effort South Korean master and crew honoured in Florida for rescuing sailor his vessel capsized.
BDI bogged down Khalid Hashim says Baltic Dry Index will struggle to break 2,000 points over the next year as orderbook bites and rescue packages bed in.
Strike two! Same Latvian ship again stalled in same Irish port by same number of crew looking for similar amount in wage arrears.
Pain rolls on Five weeks in and no end in sight for North Sea spot market slump, brokers say.
Sale scrapped Montenegro pulls Bijela shipyard privatisation for third time after lack of detail from UAE bidder.
RCCL bags more Richard Fain-led firm takes borrowing past EUR 1.34bn in past eight months with loan to cover fourth Solstice newbuilding.
Russian ship held Norway hauls freighter into port as fisherman remains missing from smashed boat.
Oakland upgrade Ports America lines up $150m work on five berths at Californian port, as part of 50-year concession.
Hartmann double German group's first AHTS newbuildings pick up long term deals.
Big fish fixed Siem Marlin nets potential $60m charter with Chevron off Nigeria.
Crew rescued Five men taken from waters off Norway by rescue boat after their small cargoship sinks.
Maersk restores Danish boxship giant forced to raise tariffs on Asia-South America and Med-US routes after rate collapse.
Merger delay? Report claims tie-up between Japanese shipbuilders USC and IHI on hold until later this year as newbuilding demand falls away.
RCL in the red Thailand's Regional Container Lines takes a battering with fourth quarter and full year losses.
GNV stronger Italian ferry operator says passenger and vehicle numbers rose despite economic decline in 2008.
Omega burnt Interest rate derivative losses push US-listed product tanker outfit to a loss in the fourth quarter.
Aker Verdal expects extensive lay offs The Norwegian shipyard Aker Verdal is forced to lay offs after the postponement of a large building project for ConocoPhillips. The project was due to start after the turn of
Nine suspected pirates arrested Nine suspected pirates were arrested in the Gulf of Aden on March 3, after the German warship Rheinland Pfalz and the American destroyer Monterey managed to fend off a pirate
Tough market for anchor handlers The market for anchor handling vessels, AHTS, is now the worst since 2004, the reasons being idle rigs and new tonnage entering the market. Daily rates have been slashed by
Containerships buys Contaz Containerships has acquired 100 per cent of the shares of Contaz Maritime Transport & Trade S.A. of Turkey. The price is undisclosed. "Containerships has for a long time considered expansion of
New ballast tank alliance A Global Industry Alliance, GIA, has been launched to tackle the threats of marine bio-invasions caused by the transfer of alien plants and animals in ships' ballast tanks. The
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