Orient Overseas chalks up first loss in a decade Orient Overseas (International) Ltd, Hong Kong's biggest container line, posted its first loss in 10 years as slumping world trade and rising overcapacity pummel cargo rates.
Baltic index in biggest drop since Oct The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October last year as Chinese demand for shipments of coal and iron ore slows.
Rand turns up the heat RAND LOGISTICS is not giving up the hunt for US Shipping Partners, despite the rejection of its initial offer for a majority of USSP's assets
Safety uproar in fatal sinking A MAJOR dispute is raging today over the seaworthiness of the ferry Princess Ashika, which sank off Tonga in the South Pacific on Wednesday night
Japan to boost wheat imports JAPAN is reportedly planning to increase wheat import shipments because severe rains have reduced domestic output
Turkey signs up to South Stream TURKEY has agreed to take part in Gazprom's South Stream natural gas pipeline, a scheme that could spur gas shipments from Ceyhan
'Dire' LNG market will recover A GLUT of tonnage has battered the LNG shipping market for the first half of 2009, but it will recover, shipping analyst Andrew Buckland told Fairplay today
GL layoff tied to newbuilds GL TOLD Fairplay today it is axing 380 jobs to reflect a collapse in demand for newbuilding classification services
US bill seeks Customs uptick LAWMAKERS have introduced a Senate bill to give US Customs & Border Protection more power to enforce trade laws
Pirate ransoms: a no-win situation for owners The families of the 24 seafarers held hostage by Somali-based pirates popped champagne corks this week to celebrate their loved ones' release after four intensely worrying months of captivity.
Transpacific trio rationalise services between Asia-USWC
Eitzen sells and leases back Oslo-listed Eitzen Chemical sells the chemical tanker Sichem Pace, 19,900 DWT, built in 2006 for USD 34 million to an undisclosed buyer. The vessel will be bareboat chartered back
Maersk in new cost reductions Due to the global economic downturn and challenges facing ocean carriers, Maersk Line has been forced to introduce cost reductions targeting its network services. By the end of September 2009
Engine room fire on new Samsø ferry The brand new ferry Kanhave on the Samsø'Hou service is out of service after a fire in the engine room. It happened yesterday while on a crossing with 116
Wilh. Wilhelmsen's operating profit up Wilh. Wilhelmsen reports an operating profit of USD 78 million for the second quarter of 2009, compared to USD 75 million for the same period of 2008. Total income was
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