DryShips notified of covenants breach DryShips Inc, a transporter of commodities including iron ore and coal, says two of its leading banks, which collectively held US$751.8 million in debt as at Dec 31, 2008, have notified the company that it is in breach of certain financial covenants.
Agility expands its network in the Nordic states Agility, one of the leading global providers of integrated logistics solutions, has signed an agreement to take over Oy O. Nyström & Co. AB based in Vantaa, Finland. The acquisitio...
Gebr'der Weiss phases in new terminal near Basel The Austrian service provider Gebr'der Weiss (GW) phased in a new 3,700 sqm forwarding facility, which encompasses a logistics hall, at the beginning of the current year. The platf...
Gefco establishes subsidiary in Chile The French logistics service provider Gefco is opening a new branch office in Chile. The Paris-based company said that it is making the move in response to growing demands from&nbs...
Ziegler Group launches Ziegler UK Ltd The Brussels (BE)-based forwarding group Ziegler recently announced the launch of Ziegler UK Ltd. The new entity seized the opportunity to take over part of the business of An...
CMA CGM optimises Amerigo Express service The French shipping line CMA CGM is optimising its scheduled Amerigo Express, which links the Mediterranean with the US east coast service, with effect from 12 March. Fo...
Fesco takes delivery of largest feeder vessel in the Baltic Sea Fesco, a Moscow (Russia)-based transportation group, has taken delivery of the largest feeder vessel in the Baltic Sea from Stocznia Szczecniska Nowa (SSN). The "Fesco Voronez...
Safmarine announces changes in Safari service Safmarine, a shipping company headquartered in Antwerp (Belgium), has announced that its Safari service between Asia and Southern Africa will consist of the following slings: the c...
100% scanning is too expensive Jena Baker McNeill of the USA's Heritage Foundation has criticized the decision of the US Congress to scan all air and seafreight coming into the country. She claims that it will n...
Silver Constellation crew face food shortage SEAFARERS onboard bulker Silver Constellation face food crisis, no pay for three months.
Excess supply to haunt China domestic dry bulk market CHINA'S dry bulk cabotage shipping trades will face excess tonnage supply this year, said the Shanghai International Shipping Research Centre.
Keppel faces Rowan rig order cancellation KEPPEL Offshore and Marine is facing possible cancellation of a $195m jack-up rig order from Rowan Companies at its US yard.
Steel cuts unsettle shipping NIPPON Steel has announced it will cut output for January-March by 5M tonnes amid plummeting demand and a bleak profits outlook
US execs face years in prison FIVE executives who pleaded guilty in the Jones Act rate collusion case will spend years behind bars, and "many" more carrier employees are being targeted for incarceration, according to legal documents obtained by Fairplay
French strike stymies ports FRENCH ports were crippled by a national strike today that was called by unions calling for a defence of employment and salaries during the economic downturn
Kockums in redundancy talks The Swedish naval shipbuilder Kockums has initiated redundancy talks with the unions as order intake slows and revenues fall. A total of 250 employees in Malm', Karlskrona and Muskö may
Birka Paradise latest victim of snuff legislation Birka Line will reflag its cruise vessel Birka Paradise to Sweden. The vessel sails on cruises between Stockholm and Mariehamn. One reason behind the move is that the sale of
Gloomy message from insurers Hull and cargo insurers are trying to raise premium levels to meet growing claims at the same time as shipowners are facing pressure from declining freight rates and the surge
Japan to send warships to Somalia The Japanese Government will deploy a number of warships off Somalia to fight piracy, the BBC reports. However, it is still unclear how many ships will be deployed in the
All time high for Ports of Stockholm A record was set in 2008 when 11.7 million passengers travelled via Ports of Stockholm, up four per cent from the year before. The passengers travelled across the Baltic
Suez loses traffic as vessels take the long route The steep decline in rates and slowing transport demand continue to force liner operators to launch cost-cutting measures. MSC has decided to join the growing number of operators choosing
Last arctic container carrier to Norilsk Nickel German Wadan Yards has delivered the last of a series of five container carriers to Norilsk Nickel. The Nadezhda is an 18,500 DWT vessel designed for arctic service and equipped
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