Golden Ocean, Frontline hit by global crisis Shipping groups controlled by Norwegian tycoon John Fredriksen reported lower fourth-quarter profits, hit by weaker demand and overcapacity in the global crisis, and aimed to shore up capital to tackle a tough 2009.
Karl Gross Spedition establishes Vietnam branch The Bremen-based German enterprise Karl Gross Internationale Spedition GmbH has set up a representative office in Vietnam. The branch is located in the capital Ho Chi Minh City, th...
FCS Logistics renamed GreenCarrier Finland The Finnish forwarding company FCS Logistics has been renamed GreenCarrier Finland. FCS Logistics was acquired by Gothenburg-headquartered GreenCarrier International in June last y...
Clecat establishes logistics innovation prize Clecat has established a prize, in collaboration with Fiata and others, that will recognise innovation in transport and logistics along the global supply chain. The prize will be a...
NY tanker stock slump on poor results TANKER as well as dry bulk shares fell sharply across the board in New York on Thursday, as a raft of bad results added to market skittishness.
Courage Marine eyes secondhand bulker buys COURAGE Marine is looking to buy secondhand dry bulk tonnage despite over 90% plunge in fourth quarter profits
Japan's exports crash nearly 46% JAPANESE exports were so staggered by a strong yen and falling demand for manufactured goods that they fell in January by 45.7% year on year
Frontline sees switch in focus FRONTLINE, in announcing mixed financial results today, said that mounting uncertainty about the global recession results in companies paying more attention to strengthening their balance sheet ' and less to paying high dividends
China's shares continue drop CHINA'S dominant bourse, the Shanghai Composite Index, continued its fall today, closing another 4% down despite yesterday's small upsurge, led by banks and car manufacturers
Chinese chopper wards off pirates A CHINESE warship has reportedly thwarted a pirate attack on an Italian ship off Somalia
Peter G pockets payout GENERAL Maritime lost $11.5M in its fourth quarter, mostly because of the exit package for former president and CEO Peter Georgiopoulos
Scan-all unlikely to meet 2012 deadline Homeland Security Secretary Napolitano says Customs and Border Protection is not likely to meet a 2012 deadline for scanning all U.S.-bound containers
Seadrill in red John Fredriksen-controlled rig and drillship player posts $739m loss as write-downs hurt bottom line.
Octet even later John Fredriksen's Frontline reveals no orderbook cancellations but announces deeper delays of eight suezmax newbuildings.
SFI net plummets Ship Finance slashes dividend as results miss expectations, but owner watching for buying opportunities.
Fire on Costa ship Evacuation planned for Costa Cruises vessel after engine room fire off Uruguay.
Cranes for Georgia Cranes reach southern US port for plan to expand Garden City Container Terminal to 6.5m teu by 2018.
RBS pulls back Struggling UK lender could reduce shipping finance to below $20bn from $30bn as it restructures in credit crunch.
Still building Bourbon's giant newbuilding programme not in danger but it will need to tap merchant seafarers to help fill the roster, says Frank Dambrin.
Siem bleeds red Norwegian shipowner pushed to near $50m quarterly loss by rising dollar and shipyard provision.
Chinese rescue Lia Zacchello-owned panamax tanker saved from pirate attack in Gulf of Aden by Chinese Navy.
Cash strapped Golden Ocean warns it could run out of cash next month as it seeks equity, shares plunge.
Saline solution Fracture in engine room pipe led to major fire on board Dutch-managed cargoship off UK, report finds.
Stealth mission Pictures show dramatic rescue of shipwrecked Indonesian fisherman by Stealthgas tanker.
Order rebound? STX predicts new ship orders in second half as it prepares to list all or parts of STX Europe.
Russian release Amur Shipping's Omsky-122 released by North Korea a week after being seized off Cape Musudan.
Cosco ship saved Danish Navy to the rescue but two crew injured as Somali pirates fail to hijack Chinese supramax.
Wilson laying up Oslo-listed mini-bulker owner to idle a "small number" of vessels this year as cashflow comes under pressure in weak markets.
Bank egos blasted Jinhui gives "egocentric", "supposedly reputable" banks a pasting as profit soars despite market calamity.
Double, trouble Net profit doubles at Golden Ocean but dividends axed as it seeks answers to cash crisis.
DESSC sneaks up Provision and loss on shares in a rival take some of the gloss off of record operating figures from Deep Sea Supply.
PD feeds Tees UK terminals company launches new feedership run from Felixstowe to Teesport.
Go away! Nigeria blocks further boxship arrivals at Lagos until April to ease "alarming" congestion.
Big loss for AMSC Unrealised interest swaps hit US products tanker owner, but operating earnings rise.
Grindrod soars South African tanker and bulker player reaped rewards of contract cover in 2008, but admits 2009 cannot be as spectacular.
Seismic shift Tax rebate boosts Norway's GC Rieber in 2008, but this year will see big profit cut.
Aegean profits up Greek bunker supplier sees fourth quarter profits more than double as bunker spread jumps.
Latvian lower Latvian products tanker owner made plenty of money in 2008, but downturn meant it couldn't match up to previous year.
Charges hit Genco Jinhui stake right down and loss from cancelled newbuilding orders push bulker outfit to a fourth quarter loss.
Legal proceedings Peter Georgiopoulos-bulker outfit is turning to the UK courts in charter dispute with Samsun Logix.
Ro/ro-service terminated after six sailings The ro-ro-service between Fredericia, Denmark and Moss, Norway, did not last long. After only six sailings with hardly any cargo/trailers on board, it was decided to quit Read more
Emtunga Offshore on the track again The Swedish Emtunga Offshore, that filed for bankruptcy in December last year when a customer failed to pay a SEK 100 million debt, will resurrect with Norwegian part ownership. The Read more
EMSA looking for more stand-by vessels The European Maritime Safety Agency (EMSA) is launching a public procurement for stand-by oil recovery vessels. The procurement procedure covers the Baltic Sea and the Channel/Atlantic area. The Read more
Frontline profit slashed by half Frontline reports a USD 51.6 million net income for Q4, against USD 107.8 million in the third quarter last year. One reason is the sinking value of the Read more
Royal Caribbean records growth on international market Last year the total revenues of Royal Caribbean Cruises Ltd rose to 6.5 billion USD. Compared to the previous year it grew by 7 per cent. Still the net
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