Dubai World scales back Africa projects State-owned conglomerate Dubai World said yesterday that it has put on hold several of its projects in Africa, the latest delays from the firm as it restructures due to the global economic downturn.
Downturn hits Alaskan cruises Poor economic conditions are squeezing the cruise business in Alaska, a mainstay for the state's seasonal tourism business, hurting leading ship operators Carnival Corp & plc and Royal Caribbean Cruises Ltd.
Kögel going into receivership The German vehicle manufacturer Kögel Fahrzeugwerke GmbH, Burtenbach, is going into receivership due to drastic market changes in the logistics industry and trailer sector. Demand ...
Western Scheldt has to be deeper The Council of State in the Netherlands recently suspended the routing decree and one of the implementation permits for deepening the navigation channel in the Western Scheldt. The...
Pirates release the "Hansa Stavanger" Frank Leonhardt, managing director of the German shipping company Leonhardt & Blumberg, reported that "on the evening of 3 August, the company's German-flagged containership "Hansa...
ITG changes partner in Malta ITG GmbH, a forwarder and logistics company based in Schwaig near Munich (Germany), recently announced that it has changed its Maltese partner for traffic to/from Malta. With...
BDP buys British freight forwarder Rostrum Forwarding BDP International (BDP), a US-based global logistics and transportation management company, has acquired UK-based Rostrum Forwarding Ltd in Dartford, Kent. The company's name will ...
Aramex awarded ISO 9001 across its Dutch offices Aramex, the Middle East-based global logistics solutions provider has been awarded ISO 9001:2008 status across all its branches in the Netherlands. Its offices at Schiphol-Rijk, Aa...
Reefer terminal gets CMA CGM's project cargo business The first of the scheduled 19 shipments of six Alstom railway coaches, all bound for Australia, has been loaded onto the "CGA CGM Mimosa" at the reefer terminal in Vado L...
Seaspan rebuffs Hapag-Lloyd, CSAV charter rate reduction BOXSHIP owner did not participate in CSAV rescue plan and will not renegotiate Hapag-Lloyd charters
Hapag-Lloyd seeks charter rate cuts
NOL posts $391m half-year loss SINGAPORE-headquartered line says container shipping remains depressed even if volumes have improved.
TBS unveils delays as profits vanish TBS International crashes to a second-quarter net loss of $16.9m and delays the delivery of six newbuildings.
US Shipping rejects $255m Rand bid RESCUE package worked out with lenders delivers "higher value" than Rand's takeover bid, says US Shipping.
Eagle Bulk hails credit revamp CONCESSIONS made by lenders helps bolster balance sheet and affords flexibility to bankroll its newbuilding programme.
OSG plunges into the red OVERSEAS Shipholding Group announced today that it swung to quarterly losses, as its spot VLCC rates tanked whilst also reporting a change to its newbuilding orderbook
TBS not surprised by loss BULK and cargo carrier TBS International has swung to a loss and reports that its drybulk business is perking up faster than lagging liner services
US Shipping snubs Rand THE board of bankrupt US Shipping Partners will move ahead with its Chapter 11 restructuring plan after rejecting a bid from Rand Logistics
Iron ore surge predicted SEABORNE iron ore trade levels are expected to grow from to 1.8Bn tonnes a year by 2025, from today's 800Mt, according to BHP Billiton
Transpetro cuts Sergio Machado-led owner's four-gasship order at Itajai shipyard goes sour after Elcano allegedly "never showed any interest."
Log-In logs order As it reports a drop in profits, Brazilian logistics outfit and shipowner returns to Eisa shipyard to bag bulker duo for bauxite COA.
Rand rejected US Shipping Partners board of directors balks at bulker owner's $255m bid to buy up bankrupt company's tanker assets.
OSG swaps order Morten Arntzen says tanker owner has swapped two panamax products tankers for medium-range units and is renegotiating more contracts.
TEN confirms New York listed owner admits to double suezmax order in South Korea.
Faulty Full City Cosco bulker which grounded off Norway causing spill showed deficiencies during recent inspection.
'Possible collision' Speedboat passengers say their vessel was hit by a cargoship in New York's Hudon River, but the Coast Guard is not so sure.
TEN tops bets Nikolas Tsakos-led owner beats Wall Street estimates in the second quarter despite profit slumps.
Red for OSG Morten Arntzen-led owner sees a $95.7m swing in second quarter profit as struggling tanker markets hammer its bottom line.
Tanker trouble Vietnam's Shinpetrol racks up big first-half loss as maintenance costs rise.
Transocean slips US-listed drillship and rig owner sees second-quarter profits fall below expectations.
Excel not rattled Gabriel Panayotides' Excel Maritime is satisfied with its performance despite a 36% fall in second quarter profit.
Gas gobbled Golar LNG spin-off Golar Energy has sold more than $100m of new shares as it opts for Oslo listing by October.
Top scrap Evangelos Pistiolis-led owner kicks off arbitration proceedings against bulker charterer after it tries to cut rate by a quarter.
Bulk boost Yangzijiang Shipbuilding's second quarter profit shoots up following jump in revenue from dry-cargo ships.
Cargoship sinks Crew safe as 64-year-old general cargoship capsizes after developing list during loading at Fatsa, Turkey.
Caucasus cleared Sovcomflot suezmax resumes discharging crude at Spanish terminal after oil leak last week.
Fesco out Russian boxship owner pulls out of project to build container terminal at Ust-Luga.
GE bonds Indian tanker and bulker owner linked to debt sale worth up to INR 2.5bn.
Fjell lifts Fairstar New arrival helps push Oslo-listed owner's Q2 profit back above water.
BC probed Canada to launch review into whether it's getting value for money from British Columbia ferry owner.
NYK sells Japanese giant completes huge bond offering as it raises cash for capital expenditure.
AMSC drops Quarterly profit down at American Shipping Co on interest expenses and foreign exchange loss.
Near miss ASP bulker avoids grounding off Australia by dropping anchor after losing power.
Hyoki not coasting Japanese coastal shipping owner kicks off year with a loss but expects small annual profit.
Profit pull Japanese tug player Tokyo Kisen improves first quarter profit, but not so optimistic for full year.
550 maritime jobs lost at MAN Frederikshavn MAN Diesel has decided to terminate the production of marine diesel engines at the factory in Frederikshavn. 550 employees will lose their jobs as a consequence: 450 blue-collar workers
Golden Ocean reaches agreement with Britannia administrators After drawn-out negotiations, Golden Ocean has reached an agreement with the administrators of Britannia Bulk Finance Limited concerning the sale of six Panamax vessels under construction at Pipavav Shipyard
Earlier AHTS purchase saves USD 6 million Norwegian Deep Sea Supply has bought the AHTS (Anchor Handling Tug Supply) vessel Sea Eagle 1 earlier than previously decided on. "The vessel, delivered from the shipyard Jaya in April
Klaipeda launched ferry Western Shipyard in Klaipeda has launched the first ferry in a series of three units ordered by Saaremaa Shipping Company. The ferry will be named and delivered in November. The
180 tons of oily water collected Work on clearing up oil following the grounding of the Panaman-registered bulk carrier Full City is in progress on the Norwegian south coast. The Chinese master of the Full
Bunker prices still firming across Europe Rotterdam players say demand is poor.
Crude seesaws midweek US inventory report sees price dip below $70 in early trading.
Energy markets pause from relentless march higher Hedging strategies which utilise only swaps work best when a market simply moves in one direction.
IBIA seeks new board members Nominations need to be returned by the middle of October.
Tanker company reports losses OSG notes 'high volatility' in freight and bunker rates.
CEPSA posts weaker first-half results Downstream business held up first half despite 'poor marketing and refining margins' in Q2.
Russian port loses backing for container terminal Russia's largest container shipping company pulls out of project for new terminal in the Gulf of Finland.
Vitol expands Amsterdam terminal 150,000 cubic metre addition complete and further expansion planned.
Asian bunker prices continue to firm Rising prices leave Asian market quiet.
Eastwind reefership seized in Auckland Tokyo bank arrests the Annapurna over failure to pay instalments on a loan.
HK storm weakens, bunkering partially resumes Tropical storm weakens earlier than expected.
Southernpec brings bunker cargo, eyes Singapore outlet 100,000 mt of bunker-grade cargo slated to load into floating storage this weekend.
Q2 data signals long-term changes in world trade patterns Container lines may have to 'seriously address' their strategies as Chinese exports decline.
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