Long way to rates recovery With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.
Strait Talk
Keeping EU in check REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).
Shipping Times
Berkshire selling 2 railroad stakes before completing new purchase Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.
Long way to rates recovery With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.
Strait Talk
Keeping EU in check REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).
Shipping Times
Berkshire selling 2 railroad stakes before completing new purchase Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.
Long way to rates recovery With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.
Strait Talk
Keeping EU in check REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).
Shipping Times
Berkshire selling 2 railroad stakes before completing new purchase Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.
Crane breakdown at Zurich/Rekingen HRT The container service provider Transfracht reported the breakdown of a crane at the Zurich/Rekingen HRT (Switzerland). The repair work may last until this morning (10 November).
Turkish Airlines signs firm order for three more A330-300s Turkish Airlines has signed a contract for the purchase of three additional Airbus A330-300 aircraft, due for delivery from September 2010. The new agreement brings the total numbe...
Ran Logistics completes IPO in Istanbul The Turkish logistics service provider Ran Logistics has completed its initial public offering (IPO) process and was recently listed on the Istanbul Stock Exchange (ISE) in&nb...
Pacer International announces new arrangements with Union Pacific Pacer International Inc, the asset-light North American freight transportation and logistics services provider, recently announced that it has entered into new arrangements with Un...
Agility continues logistics buildup for Shanghai Expo 2010 With less than 200 days to go to the launch of the Shanghai Expo 2010 in China, Agility Fairs and Events is continuing its preparation for the upcoming event. The service provider&...
Competition for Deutsche Bahn Deutsche Bahn, Germany's national rail service provider, is getting a rival in its own long-distance rail network. With effect from 15 August 2010, private trains will start to run...
BNSF and BLET reach tentative agreement The US rail service provider BNSF has reached a tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET) union to settle wage and work rule ma...
Evergreen plans to order 100 new containerships The Taiwanese shipping company Evergreen Marine plans to order 100 new containerships when the market recovers. Evergreen chairman Dr Yung-fa Chang confirmed this enormous newbuild...
RMS gains a foothold in Norway The German company Rhein-, Maas- und See-Schiffahrtskontor GmbH (RMS), a coastal shipping specialist that is part of the Duisburg (DE) Rhenus group, is set to start a weekly schedu...
German shipowners top the table in the containership fleet The number of commercial vessels controlled by German owners has decreased to 3,281 units (2008=3,371). The country owns 7.3 % of the world's fleet and 8.4 % of the total global to...
New driving restrictions in Lombardy Driving restrictions for lorries that are not environment-friendly were recently introduced in Italy's Lombardy region. The regulations apply to Euro 0, Euro 1 and Euro 2 class veh...
Emirates earns more than last year Emirates, a Dubai (UAE)-headquartered international airline, is still recording success after success despite the global economic recession. The Arabian carrier reported a net prof...
HSH's deputy CEO sacked THE WORLD'S largest shipping bank HSH Nordbank has sacked its deputy CEO and a fellow board member over high-risk transactions that caused more than €500M ($747.64M) in losses
Pirates said to seek $3M ransom PIRATES have today reportedly demanded $3M for a ship taken off Somalia
Korean firefight chills shipping NORTH and South Korean naval ships exchanged gunfire today, leading to fear that the exchange could escalate and harm commercial shipping
Dong Energy faces inquiry DENMARK'S Dong Energy faces a police investigation over accusations of failing to submit information demanded by the Danish Financial Supervisory Authority, Fairplay learned today
Ida shuts off Gulf oil OFFSHORE oil and gas platforms in the Gulf of Mexico were closed and more than a quarter of its natural gas production shut off as Tropical Storm Ida swept through the region today
Taiwan's exports rally TAIWAN'S fall in exports is slowing, IHS Global Insight reported today
Algoma gets loan Canada's Algoma Central lands $260m credit facility to fund newbuilding and upgrade projects.
'Difficult quarter' CGGVeritas suffers 93% loss in third-quarter profits as it reaches the end of higher margin backlog and vessel oversupply still hurts seismic market.
J Ray buying? McDermott International executives mull purchasing distressed offshore vessels for its J Ray McDermott arm.
Solid war chest Analysts suggest Diana Shipping could easily buy several vessels as cash balance forecasted to approach $300m.
Commandments Half of orders on Novoship "10 commandments" chartering effectiveness report referred specifically to deals with Yuri Nikitin company.
Twin attack Maersk and Rickmers boxships fight off armed pirate assaults, amid rumours BW Lion gang has struck again.
J Ray turnaround J Ray McDermott and Secunda Maritime parent sees offshore operations flip to the black with $107m profit.
Lost for words Sovcomflot corruption trial hears how large parts of a Novoship meeting agenda seemingly vanished.
Antigua probes Antigua and Barbuda says it has launched an investigation into a weapons cargo on the Francop, as Israel labels matter a "war crime."
Bigger is better US-listed containership owner GSL has pushed up nine-month profit thanks to its expanded fleet.
Di to buy Simeon Palios says Diana Shipping will tap cash reserves to buy bulkers after Q3 figures beat Wall Street bets.
Giant deal Dof AHTS secured extended stay off Brazil at a decent rate.
Secure your ship Navfor Atalanta commander says ships that have been hijacked off Somalia were not taking EU advice.
Sincere strong Long-term investments boost Taiwanese bulker owner in first three quarters.
In a fix Political pressure forced Novoship into fixing ships to Russian charterers, Sovcomflot trial hears.
Gas cruise Spain's Iberocruceros charters two cruiseships for Algerian LNG conference next year.
No go India bars controversial liner Platinum II from demolition at Alang, alleging toxic material on board.
Five-year glitch It will take until early 2014 to get all of the idle boxships back to work, report says.
Axe hanging STX Europe warns 400 jobs could go at Turku yard next year as work nears completion on Oasis of the Seas sistership.
$100m in place Eitzen Chemical passes initial target in private placement which aims to get the company back on its feet.
Breached again Evangelos Pistiolis-led Top warns of possible vessel sales if its banks don't waive loan breaches for a second time.
Last minute boost Roger Allard's All Leisure Group will top market expectations for the full-year with the aid of late bookings.
Seaboard drops US liner and bulker group sees shipping profit eroded in first nine months, but still mulling vessel acquisitions.
Turn them off! Unapproved hot lights near wheat cargo caused fire scare on Dutch cargoship off UK, probe finds.
Courage still red Singapore-listed bulker operator slumps to a loss in the third quarter on weak rates and low utilisation.
Captain asleep Princess Ashika inquiry hears that tragic vessel's master was left sleeping in cabin as water poured into sinking ferry.
On the up Norwegian cruiseferry business Hurtigruten returns to profit in first nine-months after far-reaching restructuring.
ICG falls Irish ferry and terminals group posts lower nine-month profit, but summer passenger figures encouraging.
Brandsrud bonus Seadrill's outgoing CFO banks over $0.5m from sale of shares in the John Fredriksen-led firm.
Volumes on the up Monthly volumes reach year high at Neptune Orient Lines, but rates still remain weak.
India contract Finnish engine company Wartsila wins offshore design contract from India's Pipavav Shipyard.
Competition watchdog agrees with Fjord Line The decision by the Port of Kristiansand in Norway to deny Fjord Line access to the port was in breach of the EEA agreement, according to the EFTA surveillance body
Esvagt lays up four ships Esvagt A/S has taken four ships out of service as a consequence of the declining offshore market in the North Sea area. The ships are now laid up at
Pirates attacked oil tanker 1,000 nautical miles off Somalia Yesterday pirates attacked the Hong Kong-registered crude oil tanker BW Lion, 158.557 GT, some 400 nautical miles north east of the Seychelles and 1,000 nautical miles east of
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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