New rules seen cutting fuel oil demand New regulations that will force the shipping industry to switch to cleaner fuel could snuff out nearly a quarter of European demand for fuel oil by 2015.
Ship brokers body backs central screen idea Freight derivatives brokers will support the idea of a central trading screen for forward freight agreements (FFAs) on the Baltic Exchange, a chairman of the FFA brokers' association said last Friday.
Vopak expects Q2/2009 group operating profit Preliminary reporting on the first six months of 2009 indicates a robust group operating profit for the Rotterdam (Netherlands)-based company Vopak. The current expectation is...
UPS profits fell in Q2/2009 UPS Inc, the world's largest shipping carrier and parcel operator, said that its second quarter profit plunged by 49% to USD 445 million, as sales slipped by 16.7% amid the ec...
Polar Logistics joins BDP Global Network Sweden-based Polar Logistics AB has joined the BDP Global Network, an alliance of small to medium-sized logistics firms. The network includes 18 companies from countries in the Asi...
Stena trying to cut price of newbuildings by 50% Stena-Line is trying to cut the price of two newbuildings ordered from Wadan Yards in Wismar and Warnem'nde (both Germany). The total value of the order comes to EUR...
Hapag-Lloyd asks for rates cut STRUGGLING German carrier pressing shipowners for hefty cut in charter rates similar to rescue package negotiated by CSAV.
Fears over LOF changes 'unfounded' CONCERNS about Lloyd's plans for the 100-year-old arbitration system are "unfounded".
Idle LNG ships costing owners $50,000 per day SOME of the world's most expensive vessels remain unemployed off the coast of Khor Fakkan.
D'Amato files re-org plan ITALY'S D'Amato di Navigazione has filed a restructuring plan with the Court of Naples, a spokesperson has confirmed
US Congress urges $10 box fee US CONGRESSMAN James L Oberstar recommended a $10 per teu fee on every container moving through a US port to help address a $140Bn shortfall in transportation funding
Probe fallout pummels Horizon HORIZON Lines revealed deep second-quarter losses today, driven by both antitrust investigation costs and flagging demand
OceanFreight makes S&P moves OCEANFREIGHT has made a flurry of transactions, including the purchase of one Capesize and the disposal of another
CMB hit by volatile drybulk BELGIAN shipping group Compagnie Maritime Belge has been hit hard by a sharp drop in earnings from its drybulk unit, Bocimar
HHLA surrenders L'beck terminal HAMBURG container terminal group Hamburger Hafen & Logistik is giving up most of its operations in L'beck, the company announced today
Brazil ports minister joins waste row BRAZIL'S ports minister Pedro Brito has criticised those responsible for shipments of toxic rubbish that arrived earlier this month
What's in that container: hazardous cargo or toxic waste? Malcom McLean's 60-year-old concept of loading cargo into steel boxes spawned the globalisation of trade and arguably reduced the threat of war between nations that might otherwise have no mutual business interests
Duchess sold Numerous brokers say Ship Finance International has sold a single-hull VLCC for as much as $20m.
Italian owner files Michelle D'Amato's D'Amato di Navigazione has filed for court protection in Naples but says it's not insolvent or bankrupt.
Vale still busy Roger Agnelli-led iron ore miner said to be buying capesize from Grand Union for $20m.
Sale quashed Plug pulled on OceanFreight's proposed panamax purchase as seller's bank fails to 'lift conditions'.
Matson lifts A&B Oakland liner operator returns to profitability in the second quarter and sees volumes improve across all trade lanes.
Survey outfit dips WesternGeco suffers 51% drop in second-quarter operating income as marine revenue slumps.
Riga blast scare Acetone cyanhydrin leak from containers at the port of Riga leads to evacuation of nearby neighbourhoods.
Another crash Leaving the port of Santos months after collision, heavy-lifter Zhen Hua is involved in another.
Horizon drops Chuck Raymond-led owner sinks into the red in second quarter due to antitrust settlement and a relentless global recession.
Aeolos victory Embiricos tanker company wins another round in VLCC charter battle with Petrobras.
Greek buys cape OceanFreight takes another bulker off Bocimar and confirms departure of smaller unit Juneau.
Rubbish arrests Three men collared in UK over alleged illegal shipments of waste to Brazil freed on bail.
Heavy fall Korean shipbuilder HHI blames foreign exchange losses for big drop in second quarter profit.
It's quotes time London shipbrokers are clowning around and Swire feels the thunder downunder.
New5 in Numb3rs Spyros Laimos has $700m for new bulkers, Stolt-Nielsen takes three axed Eitzen newbuildings and Maersk gets huge windfall from UK tax man.
Hunting ringgits Dennis Ling's HUBLine targets MYR 124m haul from rights issue to bolster its balance sheet.
Cochin builds Indian port invites tenders to develop bunker and LPG terminal at Puthuvype.
Star's stinker Star Reefers' second quarter bottom line dives by two thirds due to rotten reefer market.
TOO rebounds Teekay offshore spin-off bags stronger first quarter figures despite falling revenue.
A step closer Sri Lanka to propose new ferry link to India at Asian transport ministers' summit.
Saved by swaps Teekay Tankers sees spot rates fall, but first quarter profit grows as interest rate deals boost bottom line.
Eight injured Passengers hurt as Norwegian ferry Smorbukk strikes Oslo quayside head on.
Sliced open Historic Austrian paddle steamer severely damaged in collision with river cruiseship on Danube.
Dung dong deal Grass greener in Vietnam where Thoresen Thai acquires French-owned fertiliser outfit.
Canadian cash Davie Yards wins more loans from government agencies to keep on building.
Brace yourself Pacific Shipping Trust warns low rates to cast shadow over boxship market for foreseeable future as it posts mixed results.
Asian express Coscon and Evergreen launch joint South-east Asia run with four 2,100-teu vessels.
Exchange gain Teekay LNG reverses first-quarter loss last year to post profit purely on better financial instruments.
Mixed results Chinese government official says the year's import figures will reveal a mixed bag of results.
Sabotage! Former workers at Poland's Szczecin accused of trying to wreck Qatari takeover by alleging "illegal activities".
Cautious approach Panama Canal boss predicts 'flat' year ahead but says waterway not severely affected by economic downturn.
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