Surging levels of oil stored at sea GLOBAL storage of crude oil in supertankers has risen to a high of at least 80 million barrels despite Opec's oil supply cuts, Frontline, the world's largest tanker company, said on Monday.
NYK to double scrapping of car carriers Nippon Yusen KK, the world's largest operator of car transport ships, may double the number of carriers it retires as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co slash production.
100 ships stranded in fog near Shanghai Port Fog caused by rainy weather since the middle of this month has disrupted international shipping services around Shanghai Port, port authorities said yesterday.
Cosco Pacific shares take a hit
3i invests US$161m in Indian port firm
Logistics
FedEx's deep price cuts spark panic among China players 'FedEx China is losing money to grab market shares by lowering its prices of domestic express service in China by more than 70 per cent in a year to the level set by domestic private companies,' Chen Ping, former president of the ZJS Express Co, a private express company in China, told Xinhua.
Truck traffic revives interest in marine shipping An old idea is experiencing a rebirth thanks to truck traffic that is increasingly choking America's highways: shift more of the US freight burden to boats that can traverse rivers, lakes, canals and coastal waters.
Strait Talk
ITF ready to help troubled owners IT EMERGED last week that the International Transport Workers' Federation (ITF) has been assisting troubled owner Britannia Bulk by, among other things, becoming involved in talks with the company's bankers.
Surging levels of oil stored at sea GLOBAL storage of crude oil in supertankers has risen to a high of at least 80 million barrels despite Opec's oil supply cuts, Frontline, the world's largest tanker company, said on Monday.
NYK to double scrapping of car carriers Nippon Yusen KK, the world's largest operator of car transport ships, may double the number of carriers it retires as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co slash production.
100 ships stranded in fog near Shanghai Port Fog caused by rainy weather since the middle of this month has disrupted international shipping services around Shanghai Port, port authorities said yesterday.
Cosco Pacific shares take a hit
3i invests US$161m in Indian port firm
Logistics
FedEx's deep price cuts spark panic among China players 'FedEx China is losing money to grab market shares by lowering its prices of domestic express service in China by more than 70 per cent in a year to the level set by domestic private companies,' Chen Ping, former president of the ZJS Express Co, a private express company in China, told Xinhua.
Truck traffic revives interest in marine shipping An old idea is experiencing a rebirth thanks to truck traffic that is increasingly choking America's highways: shift more of the US freight burden to boats that can traverse rivers, lakes, canals and coastal waters.
Strait Talk
ITF ready to help troubled owners IT EMERGED last week that the International Transport Workers' Federation (ITF) has been assisting troubled owner Britannia Bulk by, among other things, becoming involved in talks with the company's bankers.
Surging levels of oil stored at sea GLOBAL storage of crude oil in supertankers has risen to a high of at least 80 million barrels despite Opec's oil supply cuts, Frontline, the world's largest tanker company, said on Monday.
NYK to double scrapping of car carriers Nippon Yusen KK, the world's largest operator of car transport ships, may double the number of carriers it retires as Toyota Motor Corp, Honda Motor Co and Nissan Motor Co slash production.
100 ships stranded in fog near Shanghai Port Fog caused by rainy weather since the middle of this month has disrupted international shipping services around Shanghai Port, port authorities said yesterday.
Cosco Pacific shares take a hit
3i invests US$161m in Indian port firm
Logistics
FedEx's deep price cuts spark panic among China players 'FedEx China is losing money to grab market shares by lowering its prices of domestic express service in China by more than 70 per cent in a year to the level set by domestic private companies,' Chen Ping, former president of the ZJS Express Co, a private express company in China, told Xinhua.
Truck traffic revives interest in marine shipping An old idea is experiencing a rebirth thanks to truck traffic that is increasingly choking America's highways: shift more of the US freight burden to boats that can traverse rivers, lakes, canals and coastal waters.
Strait Talk
ITF ready to help troubled owners IT EMERGED last week that the International Transport Workers' Federation (ITF) has been assisting troubled owner Britannia Bulk by, among other things, becoming involved in talks with the company's bankers.
Taiwan's leading carriers enhance their cooperation on the Intra-Asia trades Taiwan's two leading carriers, Evergreen Line and Wan Hai Lines, will co-operate on Intra-Asia trades from late February. The agreement consists of slot exchanges between...
GAC strengthens presence in India GAC India has strengthened its presence in the Gujarat region with the addition of a new logistics office in Vadodara. The facility offers professional logistics and international ...
Nike constructs new logistics facility in China Sportswear provider Nike has started to build a new distribution centre in eastern China. At 120,000 sqm it is thought to be the largest in the country. The facility will cost abou...
C.H. Robinson with new office in Vietnam C.H. Robinson Worldwide, the forwarding and logistics service provider based in Eden Prairie MN (USA), has expanded its operations into Ho Chi Minh City (Vietnam). The new off...
Green Cargo to rely on Quintiq Green Cargo, Sweden's state owned freight railway, will rely on Quintiq's advanced planning and scheduling (APS)-technology in future. Green Cargo has awarded Quintiq with a contra...
NYK restructures services linking Asia with Central and Latin America Nippon Yusen Kaisha (NYK Line) has restructured its MAREX service, which links Asia with Hawaii and Central America, and its ALEX service, which connects Asia w...
VTG results better than expected VTG AG, Europe's leading private railcar lessor and rail logistics company, recently published its results for financial 2008. Corporate sales rose by 12.4 % or EUR 67.4 million to...
Grand Alliance: EU3 service switches to Cape of Good Hope route The members of the Grand Alliance - Hapag-Lloyd, MISC Berhad, Nippon Yusen Kaisha (NYK) und Orient Overseas Container Line (OOCL) - will route vessels sailing in their EU3 service ...
Hamburg S'd rationalises service between Asia, Mexico and South American west coast The partners in the Asia Express Consortium - CCNI, Hamburg S'd and MSC - have reduced the capacity on their service between Asia, Mexico and the South American west coast, with im...
Tariff amendments designed to retain business, jobs in tough economy The Long Beach Board of Harbor Commissioners considered a package of incentives aimed at retaining international trade business and attracting additional cargo to the port of Long ...
Weak won hits newbuilding cancellation efforts FALLING won threatens to result in huge currency losses for South Korean yards.
Sparks set to fly as South Korea fights to survive the downturn
Shipowners outraged by light dues hike INCREASE a "catastrophic blow for shipping at a very difficult time for the industry".
Russian product tanker thwarts pirate attack off Nigeria THE vessel, Khatanga, escaped with no casualties or damage, owner Murmansk Maritime Shipping confirmed.
TUI insists Hapag sale is sailing GERMANY'S tour operator and shipping group TUI has expressed renewed confidence that it will succeed in selling its Hapag-Lloyd Container Line business to a Hamburg-based consortium
Eagle Bulk skyrockets SHARES in Eagle Bulk jumped 50% today, while many other shipping stocks rode a broad rally in US markets
Hiong Guan sentenced HIONG Guan Navegacion was sentenced today in Tampa, Florida to $1.7M in fines and fees for its falsification of oil discharge records aboard the general cargo ship Balsa 62
Maersk raises trans-Atlantic rates MAERSK Line has raised its trans-Atlantic rates, in a response to what it termed "market instability"
Fortescue Metals takes a hit THE EXTENT of Fortescue Metals Group's exposure in the shipping sector has been revealed by the company in a market update
Jones Act plaintiffs pounce PUERTO Rico shippers have demanded a huge damage payout from Jones Act container carriers accused of price collusion
South Korean shares tumble SOUTH Korean shipping and shipbuilding stocks fell sharply today, with the world's biggest shipbuilder, Hyundai HI, declining 5.79% to 179,000 won ($118.40).
Niger Delta Ministry to fight piracy IMO Secretary-General Efthimios E. Mitropoulos has urged the Government of Nigeria to intervene to help reduce the incidence of acts of piracy and armed robbery against ships in the
More vessels leave the Suez canal The Grand Alliance group consisting of some of the world's largest container shipping companies are diverting their EU3 service away from the Suez canal on the way back from Europe
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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