Baltic Dry Index extends gain for 11th week The Baltic Dry Index, a measure of shipping costs for commodities, advanced, extending its longest winning streak in three months amid record imports of iron ore into China.
Poland selling Szczecin shipyard to save jobs Poland said last Saturday that it will sell its state-owned Szczecin shipyard, one of the birthplaces of the Solidarity trade union which helped topple communism, to United International Trust.
Shipping carbon dioxide seen as big growth area Shipping groups are looking into providing vessels capable of transporting carbon dioxide to offshore disposal sites as part of the European Union's push to curb greenhouse gas emissions, ship industry officials say.
Graveleau to assume Dachser name Ten years after their merger, the internationally operating logistics provider, Dachser, and its French subsidiary, Graveleau, have grown together to become a single organic entity...
TNT Express open new hub in Milano Netherlands-based postal and CEP operator TNT has invested EUR 12 million in a new 40,000 sqm mega hub at Milan's Linate city airport (Italy). The facility is located directly besi...
Kuehne + Nagel opens logistics centre for Audi/Volkswagen in Korea The German car manufacturer Audi Volkswagen recently entered into a strategic partnership with the forwarding and logistics giant Kuehne + Nagel for its warehouse management and pa...
Maersk in major rejig MAERSK is making significant organisational changes in Europe and North America, according to letters to business partners obtained by Fairplay
Pirate networks are local, says IMB THE IMB has dismissed reports that pirates are allegedly making use of international contacts
Pan Ocean plunges STX PAN Ocean has suffered losses as a sharp fall in drybulk freight rates cut into turnover and income
Teekay spin-offs finally report TEEKAY'S three public spin-offs ' Teekay Tankers, Teekay LNG and Teekay Offshore ' released 2008 results this morning, three months later than they filed annual results last year
DryShips scores another waiver DRYSHIPS has obtained yet another loan covenant waiver today, as short-term debt pressures on the George Economou-led company alleviate
Hopes rise on delivery slippage LAZARD analyst Urs Dur is heartened by heavy slippage in the drybulk sector orderbook, but cautioned that "we are not out of the woods yet"
EU slams 'crazy' box route EU LEGISLATORS have slammed the time it takes to transport containerised cargo via East-West trade routes
Ocean carriers cast adrift in sea of red ink Since Lehmann Bros' collapse in September 2008 triggered the world's second and more vicious strain of credit crunch virus, we have become almost immune to bank and corporate losses stretching to infinite zeros. While most mega-banks and many corporates have been bailed-out by governments, international shipping has been left to sink-or-swim in the economic storm and unfortunately the losses are not stacked in monopoly money: they are for real.
Finnlines go for more Baltic services
Wal-Mart name Horizon, 'Jones Act' carrier of the year
More losses Teekay LNG Partners and Teekay Tankers both post fourth-quarter losses, as LNG carrier newbuildings prepare to change hands.
Byzantine buys Greek bulker owner emerges as apparent buyer of a newbuilding at IHI.
Master found dead Brazilian authorities investigate after the body of the Ukrainian master of a cargoship is found in his cabin.
TTA profits plunge Singapore-listed Thoresen Thai Agencies sees consolidated profits plunge by 95% as the company remains concerned about the bulker trade.
Dojima ship sold Panamax bulker Halo Olympus fetches $21m from unnamed Chinese buyers.
$3bn buyback US-listed rig and drillship owner Transocean to pump as much as $3.17bn into repurchasing shares.
DryShips reprieve George Economou's DryShips gets waiver on debt of $654m, its third let-off of the year
Growth view dips New York analyst cuts 2009 bulker fleet growth prediction but says forecast through 2012 sees only slight improvement.
Wider losses Non-cash charges push Teekay Offshore Partners $50.7m into the red in the fourth quarter, but CEO "excited" about potential acquisitions.
It's quotes time For once Tor Olav Troim's aim is off target and a rich Greek will be on the loose post summer.
Dry bulk fantasy? Awakening of bulker market from winter of discontent not just a myth, says STX Pan Ocean.
BLT net sliced Higher costs and lower income see Indonesian owner's bottom line fall by one fifth in first quarter.
STX at a loss Dive in dry-bulk market and poor volumes elsewhere leave red ink on STX Pan Ocean's first quarter.
MISC quits GA Severe impact on liner industry from global downturn sees Malaysian owner wave goodbye to Grand Alliance.
HHI short Korean shipbuilder's bid for trader and yard owner Hyundai Corp rejected as too low.
Persistent pirates Attacks on ships so far in 2009 have now passed the number seen in the whole of last year, but success rate is falling, IMB says.
Broker King dies Gibson's dry-cargo chief Malcolm King has died following year-long battle with cancer.
FBMA axes 40% Philippines ferry builder to lay off 79 workers as new orders prove difficult to land.
Outside influence Scan Geophysical books blockbuster first quarter but its future will be determined by others.
NAT will do nicely Follow-on offering generates $130m for Herbjorn Hansson's Nordic American Tanker Shipping as underwriters snap up stock worth $7.2m.
Human right? Scottish owner CalMac could breach European law if it does not start Sunday service to strictly Christian island of Lewis.
A new hope Shipbuilding set to continue at Gdynia shipyard in Poland after government announces sale to UIT.
Icy grounding Russian cargoship refloated after being pushed aground by ice and wind.
HMM turns red Bad start in tough first quarter markets for Korean owner as it posts big loss.
Hanjin revs up Korean shipbuilder Hanjin Heavy posts huge hike in first-quarter profit as revenues soar.
Edging up Japanese bulker owner made more cash in 12 months to 31 March, but earnings will dwindle this year.
More for Meiji Japanese tanker and bulker player still pushing up profit despite slump.
Bergen better Pal Engebretsen-led offshore group sees first quarter figures buoyed by improved shipbuilding results.
Laser pest Man admits temporarily blinding New Zealand ferry crew by aiming light beam at Interisland ship.
Sasebo up for now Japanese builder posted strong annual profit and revenues but braces for weaker year ahead.
Namura suffers Japanese shipbuilder sees annual profit slump despite sales hike but eyes recovery this year.
Down not out Japanese yard Sanoyas forecasts decent profit this year after slumping to loss in 12 months to 31 March.
Swedish naval forces in Gulf of Aden The Swedish marine today inaugurated its mission in the Gulf of Aden. The Swedish naval force, including two corvettes and one supply vessel, will contribute to the protection of vessels
New chairman of Danish Shipowners' Association The Danish Shipowners' Association (Danmarks Rederiforening) elected a new chairman at its annual general meeting yesterday. The new chairman is Lars Vang Christensen, CEO of Herning Shipping. He replaces Torben
Three DFDS ro-ros to be rebuilt DFDS Group has signed a contract with Motorenwerke in Bremerhaven to lengthen three so-called Flower class ro-ros. The first ship vessel be the Tor Ficaria, which will arrive
German coasters back in service A quartet of German-owned coasters, which had been laid up in the Port of Svendborg, Denmark, have left their lay-up berths to resume service. The four Strahlman-owned
Orders at Chinese yards fell 95 per cent Orders placed at Chinese yards fell 95 per cent during the first four months of 2009, according to Bloomberg, quoting the Chinese Ministry of Industry and Information. Orders from January
Maersk Line abandons Göteborg Last year, Maersk Line merged several of its business areas and set up a regional office for the whole of Northern Europe with the head office in Göteborg ' now, the
Wärtsilä cuts hundreds of jobs Wärtsilä is adjusting its Ship Power business to reflect the current market situation by reducing the number of jobs by 400 to 450 persons, of which approximately 80 are in
Containerships back to Finland Eimskip will sell its shares in Helsinki-based Containerships Ltd Oy to the minority owner Container Finance Ltd Oy. The transaction is a part of the financial restructuring of Eimskip
Sweden criticised by NGO The NGO platform on shipbreaking accuses the Swedish government of accepting toxic shipbreaking on the beaches of poor countries by giving the green light to the IMO convention on shipbreaking
Finnlines to open passenger service to Poland Finnlines will start up a service between Helsinki and Gdynia with ro-pax vessels in the Finnstar class. Finnlines recently transferred two of these vessels from Nord' Link's service between
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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