Ports need to focus on trend changes THE economic downturn presents an opportunity for ports to upgrade and prepare for the rebound, but they will need to focus on changes in trade patterns and industry trends, delegates at the 9th International Association of Ports and Harbours Asia/Oceania Regional Meeting and Port Forum were told yesterday.
Chasing steady revenue, more drillers go deepwater Rig contractors are finding the allure of deepwater oil and gas drilling harder to resist in the current slump, given that deepwater's longer lead times and massive budgets promise them smoother income flows.
Lufthansa Cargo and Austrian Cargo sign global sales agreement Lufthansa Cargo Charter, a Lufthansa Cargo subsidiary, and Austrian Cargo have signed a global cargo charter sales agreement. Austrian Cargo will also represent the Lufthansa Cargo...
Geodis completes acquisition of IBM logistics unit Geodis acquired IBM Global Logistics and signed a long-term service contract with IBM recently, and has now successfully closed the deal on schedule. Geodis is now the sole lead lo...
Two new gantries for Khorfakkan The Khorfakkan Container Terminal (KCT), operated by Gulftainer, a leading regional port management and logistics firm, has taken delivery of two new Liebherr post-panamax gantries...
Eurogate becomes city of Hamburg partner for the environment Eurogate, which says it is one of Europe's leading container terminal and logistics groups, has been nominated one of the city of Hamburg's official partners for the environment. T...
Iata forecasts higher losses for airline industry The International Air Transport Association (Iata) has revised its outlook for the global air transportation industry, with losses amounting to a total of USD 4.7 billion in 2009 o...
Qatar Airways to manage new Doha airport The new Doha international airport will be opened in 2011 and Qatar Airways will be in charge of managing the facility and thus making a substantial contribution to making Doha a k...
First high-speed rail section opened in Turkey The Turkish State Railways (TCDD) opened the first section of the high-speed line between the capital Ankara and Eskisehir on the Ankara-Istanbul line in mid-March. The 197 km of n...
BLS Cargo reports traffic growth and positive result BLS Cargo achieved a good operating result in 2008. The company has said that its transport performance improved by 10% last year, even though demand declined steeply in the fourth...
Container portals post gains CONTAINER and logistics portals Inttra and GT Nexus have announced contract gains from new and existing customers
SCI defers plans for 8 large ships SHIPPING Corp of India has deferred plans to acquire eight large ships costing $1Bn to the next financial year, chairman and MD S Hajara told reporters in Delhi today
Somali pirates seize two vessels SOMALI pirates have seized two vessels about 400 n-miles off Somalia
NYK slashes profits forecast NIPPON Yusen Kaisha said today its prediction for profits has dropped for the fiscal year ending 31 March 2009
Debt prompts FESCO downgrade RUSSIA'S dry cargo giant FESCO was today graded down by Moody's bond rating agency in Moscow
Alert sounded on teu expansion PROJECTED teu increases for Capes have serious implications for engine displacement, ship technology and the environment, a maritime analyst warned Fairplay today
TT Club predicts weak premiums TT CLUB, London's transport insurance provider, has warned that premiums in the insurance market will remain weak this year
Wei's new hat Cosco Group chief executive Wei Jiafu receives commodore honour at CMA conference.
Products plunge Torm's US head says products tanker demand has "gone away" in just a few weeks.
NYK fires warning Declining bulker and boxship earnings and a host of write-downs lead Japanese shipping giant to slash profit forecast.
Trio stretched Karl-Johan Bakken's Farstad brings in an extra $22m after extending three charter contracts.
Pay the price India's shipping ministry wants up to INR 15bn to cede control of Hindustan Shipyard to defence department.
Zero tolerance George Economou says he will resist calls from any charterer to cut rates as he insists DryShips is not dragging its feet over covenant waiver on debt of $1.8bn.
Charter cheer Teekay Tankers extends deal for aframax at $26,500 per day ' compared to spot rate below $10,000.
Still in demand Aboitiz Jebsen's Ole Stene says shipping downturn has not relaxed the seafarer shortage, but salaries may flatten.
Tanker seized Greek chemical tanker with 19 crew hijacked almost 400 miles off Somalia's east coast.
Bourbon ups divi Bulker and offshore giant jacks up shareholder payout by nearly 30% despite slump in profit during 2008.
IMB flags box con "Suspect shipments" of containerised palm oil being run from Jakarta, maritime body claims.
Science cruise Royal Caribbean's Explorer of the Seas kitted out with labs to study climate change.
KLC's bond bid Crisis-hit Korean bulker player wants to sell $225m of debt to shore up finances.
Not worried Dubai's Adnatco says its newbuilding programme will make it a major global tanker player from 2010.
Dollar downer Wilson & Sons' offshore unit boosted by larger fleet but rise of the dollar slices its full-year profit by a fifth.
Box of cash Liner-booking portal Inttra signs up owners such as Maersk Line and MSC to three-year deals worth $100m.
Tax tussle Bergshav to become first Norwegian owner to go to court over big back-tax demands.
CSCL suffers Li Shaode-led China Shipping Container Lines sees 2008 profits all but evaporate in tough market.
Trailer trailing US to Puerto Rico liner company posts bigger 2008 loss as fuel costs soar.
Li's port warning Hutchison Whampoa chairman Li Ka-shing warns of 'more challenging year' for ports business.
Worker killed Explosion leaves one man dead at shipyard in Kuala Baram, Indonesia.
Another sold Precious Shipping sells fifth elderly handysize bulker in March and eighth since start of year.
Erria loses Danish owner swings to 2008 deficit as boxship rates plunge in fourth quarter.
Adviser picked Babcock & Brown select Macquarie to handle potential sale of Dalrymple Bay Coal Terminal.
Zim joins in Israeli container line teaming up with Grand Alliance members on China-US east coast service.
Risky business "Inherent" counterparty risk is a fact of life for managers as well, says Bernhard Schulte Shipmanagement's Jens Alers.
Ship shifters Camillo Eitzen is taking vessels from EMS and moving them to third party rivals as it strives to cut costs, Peter Knudsen says.
Sing like a pirate TradeWinds WebTV visits Wilhelmsen Ships Services pirate-themed karaoke party.
LA lower US west coast port sees year-on-year decline of over 30% in container volumes in February.
Hapag-Lloyd increased its profit ' but 2009 will be tougher The German container shipping operator Hapag-Lloyd, recently acquired by the German consortium Albert Ballin Holding GmbH & Co, reports a profit of USD 285 million 2008, compared to USD 239
Japan introduces tonnage tax Japan will apply the tonnage tax system to ten domestic ocean-going shipping companies over five years from the fiscal year 2009, which starts in April, the Journal of Commence
Port of Hirtshals' profit fell The Port of Hirtshals reports lower revenues in 2008, mostly due to changes in the ferry services. Its largest client, Color Line, reduced its four services to two services. The
EMS reorganises ' 27 to be laid off Eitzen Maritime Services ASA, EMS, will reorganise its ship management operations and has decided to close down its technical management office in Copenhagen on 30 June 2009 ' as a consequence
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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