Criteria for laying up vessels IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port
Strait Talk
Impairment and other dilemmas ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.
Shipping Times
US car trade-in scheme draws 16,000 dealers Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen' The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan
Criteria for laying up vessels IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port
Strait Talk
Impairment and other dilemmas ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.
Shipping Times
US car trade-in scheme draws 16,000 dealers Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen' The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan
Criteria for laying up vessels IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port
Strait Talk
Impairment and other dilemmas ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.
Shipping Times
US car trade-in scheme draws 16,000 dealers Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen' The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan
Ceva Group reports Q2/2009 results Ceva Group Plc announced that its Q2 and half-year 2009 results will be published on 12 August 2009. Ahead of the Q2 results, Ceva has said that there have been improvements across...
Stobart Group wins major non-food contract with Tesco Eddie Stobart Ltd, part of the UK-based multimodal transport and logistics solutions service provider Stobart Group, has announced that it has been awarded a distribution contract ...
Panalpina disputes shareholder compensation complaint The Basel (Switzerland)-based transport and logistics provider Panalpina has confirmed the receipt of a complaint (court of jurisdiction Laredo, TX/USA) by Deccan Value Advisors LP...
TNT expands its operations in Vietnam and Indonesia The Dutch CEP service provider TNT recently officially opened its expanded and redesigned international and domestic operations centre next to the Tan Son Nhat international airpor...
Qatar Airways opens office in Washington Qatar Airways recently opened a new office in Washington DC, to fortify its commitment and presence in the US market. The ceremony was attended by locals VIPs and bu...
British Airways increases capacity to Jeddah British Airways, the UK's flagship carrier, which restarted its services to Saudi Arabia on 1 June, is to boost capacities on its Jeddah service during its winter schedule fro...
Hapag-Lloyd to sell box terminal stake for $446m CONTAINER line has agreed to sell its 25.1% stake in Altenwerder as part of a rescue package agreed with key shareholders.
Liverpool faces backlash over cruise upgrade plan BID to upgrade terminal sparks resentment from other operators still angry over city's cash handout from EU.
Chamber of Shipping members urge reform HIGH-profile members warn of resignations unless the trade association is overhauled.
Hapag seeks charter rate cuts TRADING conditions in box shipping are so difficult that Hapag-Lloyd has asked shipowners in a letter to cut charter rates significantly
TMM losses skyrocket MEXICAN shipping and logistics company Grupo TMM suffered severe losses in the second quarter, dragged down by its country's worst economic crisis since 1995
Blackstone unveils tanker plan CROWLEY Maritime has been tapped to manage five product tankers owned by private equity firm Blackstone, following the bankruptcy of US Shipping Partners
Operating costs seen falling THE COSTS of running a ship are likely to fall despite the recession, Drewry Shipping Consultants told Fairplay today
Beijing clears CSIC's IPO BEIJING has approved an IPO by China Shipbuilding Industry Corp, one of the Big Two in the Chinese newbuilding sector
Teekay profits squeezed TEEKAY belatedly issued first-quarter results today, with the corporation logging just one-sixth of the profits of the same period last year
Drybulk's bulls returning JP MORGAN has switched from bearish to bullish on Chinese iron ore demand and substantially raised its 2009-10 drybulk outlook today
TMM loss swells Tanker and offshore vessel owner suffers $66.3m loss as Mexican economy sours.
Analyst ups dry JP Morgan lifts 2010 bulker owner earnings estimates by nearly 10% as Chinese iron ore helps capes.
Petronet buying 2 Indian LNG terminal owner plans to invest $520m for a pair of LNG carriers for Kochi imports.
TDW ups credit US offshore vessel giant Tidewater secures $450m revolving credit facility from lenders led by Bank of America.
Casualty file The sinking of a handysize bulker off South Africa and footage of a Swedish ferry collision lead this week's edition.
Vale port crash Louis Dreyfus' capesize Pierre LD hits jetty at Brazilian miner's Guaiba iron ore terminal.
Blackstone sails After settlement with US Shipping Partners, investment firm's five-ship American Petroleum Tankers hits the water under Crowley management.
Teekay in line Bjorn Moller-led Teekay's first quarter profit measures up well against analysts' estimates.
Red ink waiting Wei Jiafu's Cosco will post a half year loss with both its bulkers and boxships failing to make money, company warns.
More time Parry-led Aries Maritime Transport agrees to give Grand Union more time after deadline for hurdle passes.
All change Kristian Siem warns of redundancies at Rovde as Siem Offshore's operations transfer to Kristiansand.
ABG level Profit barely budges at Indian shipyard group despite sales soaring as stock increase held back.
Boxship delayed Last of four "very economical" boxships on order from Qatar Nav at Daesun to be delayed.
Mipo profit dives Bottom line slashed in half in second quarter at Hyundai Mipo Dockyard despite sales gain.
Magnificent 7 Subsea 7 beats market expectations in the second quarter with some "very strong numbers".
Angel delight Hallin bags $6.5m offshore construction support contract with major oil and gas player.
Naughty Nautilus Spanish manager of chemical tanker caught using 'magic pipe' in US hit with $2.08m fine.
Steel misery Samsung Heavy Industries points the finger at the cost of steel as its profit dips.
Bullish on boxes Danaos boss John Coustas flags visible signs of a recovery in the container sector as shipowner's profit stacks up well against forecasts.
No entry Tourists will see a drop in the number of cargo ships on Shanghai's busy Huangpu River next year.
More funds sought Major shareholders TUI and Hamburg government could hand EUR 330m to Hapag-Lloyd.
Tankers delayed Vietnam domestic tanker deal put on hold because of 'financial difficulties' at yard.
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