Fall in ship prices set to continue Ship prices may keep dropping for at least another year because banks have not yet dealt with the weaker loans they made to the industry, according to Michael Drayton, a former chairman of the Baltic Exchange.
Cargolux in the red The Luxembourg-based cargo carrier Cargolux will sink deep into the red this year. The Luxembourg daily paper "Tageblatt" reported that Cargolux will post a full triple-digit milli...
Panalpina chosen for Franco-Japanese joint venture in Brazil Panalpina Brazil has been nominated by VSB, a joint venture between the French company Vallourec and Japan's Sumitomo Metals Industries, as the logis...
Rhenus opens logistics centre in Mannheim The German logistics service provider Rhenus has expanded its activities in southern Germany and recently opened a new logistics centre in Mannheim. The facility was erected by the...
DHL Supply Chain inaugurates logistics platform in the Philippines DHL Supply Chain has officially opened its four hectare DHL Logistics Centre in Para'aque City in the Philippines. One of the largest DHL Supply Chain facilities in the c...
YRC Logistics sells business unit to Greatwide Logistics YRC Logistics, a subsidiary of YRC Worldwide Inc based in Overland Park KS (USA), has sold its US dedicated contract carriage business to Greatwide Logistics Services for USD 34 mi...
Austrian Post overtaken by downturn The ongoing economic slump has had a negative impact on the business operations of Austrian Post. Revenue fell by 3.4% to EUR 1.7 million in the first nine months of this year. The...
MSC starts new express service to Novorossiysk Mediterranean Shipping Company (MSC), a leading global shipping line based in Switzerland, is launching an express service between Egypt, Israel, Turkey and the Russian B...
Promoting Germany's Lower Saxony and JadeWeserPort in China The German port and marketing companies JadeWeserPort Logistics Zone GmbH & Co KG and Niedersachsen Global GmbH (NGlobal) will make an initial visit to China from 6-13 De...
EasyJet testing air cargo market EasyJet, a major European low-cost airline, will start carrying cargo on selected flights in a trial project. Only small-sized shipments will be accepted and it is hoped that they ...
The sun is not about to set on Dubai anytime soon Kicking a man when he is down is one of the world's favourite pastimes - just ask CMA CGM's Jacques Saade. Indeed, a good dose of schadenfreude seems to be the tonic we need to make us feel better; but more than a year on from the demise of Lehman Bros we need to have learnt the lesson that everybody suffers when a star falls from grace.
European stocks slump on Dubai concerns
Swedish minister: 'cut shipping emissions by 20%'
Super-slow steaming to slow Zim's losses
Charterers and owners: check distances to save cost
Dutch courage High court hears of the night tired and emotional shipbroker Richard Gale rang Yuri Nikitin to tell him he was about to open up about his Sovcomflot dealings.
Settlement near Morten Arntzen's OSG says it has reached a preliminary pact to settle lawsuits opposing its $72m takeover of OSG America.
Sale redrawn John Fredriksen's Ship Finance International sees record sale of suezmax pair to North China Shipping reworked.
SFI falls short John Fredriksen-headed company narrowly misses estimates in the third quarter as Frontline profit share shrinks.
Salvage justice Admiralty judge lays down the law on landmark $41m award as he upholds principles defined in 135 year old grounding case.
$500 more, please Depressed market forces CMA CGM to bump up rates between US and Europe by up to $500 per box.
Unwanted ballast German cargoship held in UK after crew discover storeroom flooded with 180 tons of water.
File it away Court hears how Yuri Niktin asked for details of his profitable charters to be moved from Sovchart's Geneva office.
Still losing General cargoship owner Lisco increases pre-tax losses in first three quarters on falling revenue.
It's quotes time SSY is told to give Orion some space and what's Yuri Nikitin cooking up in the kitchen?
Three-hour attack Hermann Buss-owned boxship outruns determined Somali pirates after sustained, armed assault.
No sale Frontline says it will not exercise a purchase option on three VLCCs on charter from Dr Peters.
Crew saved Russian-flagged cargoship sinks in Azov Sea after collision, but 11 men and pilot taken on board second vessel.
Golar improving Norwegian LNG carrier owner boosted by return of converted FSRU, but still in the red in third quarter.
$250m up Dockwise completes huge fund raising drive as it prepares for Amsterdam listing.
"Several" bids Germany's ThyssenKrupp says a number of potential buyers could make offer for Greece's Hellenic Shipyards by 4 December.
New5 in Numb3rs Spyros Vamvakas' AB Maritime books its first ever newbuildings, while Samsung and Daewoo lock horns over potential 10-ship suezmax order.
KHI targets bonds Japanese shipbuilder Kawasaki Heavy Industries to raise over $230m in double bond sale.
Viking shake-up Finnish postal exec Pavlos Ylinen drafted in as deputy boss of ferry owner as top brass changes.
VLCC brace to go? Frontline pens option to cancel two $135m VLCC newbuildings at Zoushan Jinhaiwan but instalments would be lost.
ITC to buy VLCC Tor Olav Troim-led Frontline spinoff to buy British Progress as third-quarter profit rises.
Frontline at a loss John Fredriksen tanker outfit posts first loss in seven years as rates struggle to top breakeven.
Helmsman dies 58-year-old thrown from inland tanker as wheelhouse torn off in bridge collision in Germany.
Down to two Danish owner Torm's bulker fleet shrinks further as it confirms another panamax sale.
Still going strong Singapore continues to see high volumes of bunker sales during October, official figures show.
MISC affirmed Moody's leaves Malaysian shipowners credit rating unchanged following fund raising proposal.
DP World spared Dubai ports group not included in restructuring process for Dubai World says government.
Losing start Golar LNG's spot vessel spin-off Golar Energy makes $3.2m loss from inception on 12 August.
Rigel leaves Broström for Milestone German Rigel Schiffarts has left the commercial cooperation it had with Broström. Of ten tankers commercially runned by Brostr'm, eight will now join the Holbæk-based Milestone Maritime fleet. Half
Estonian new transport commissioner José Manuel Barroso, President of the EU-Commission, has now announced the portfolios for the next Commission. The Estonian Siim Kallas has been appointed new transport commissioner and Vice President
DP World spared from restructure DP World, one of the world's largest terminal operators with 49 port terminals and twelve under construction, has been excluded from the restructuring process that Dubai has initiated for its
Clipper takes control of Nordic Tankers Nordic Tankers A/S has signed a conditional agreement with Clipper Group A/S in order to acquire part of Clipper Groups chemical tankers operation. Clipper group will then become
Torm sells panamax bulker Torm sells the panamax bulker Torm Rotna to an undisclosed buyer for USD 29 million, with a profit of USD 9 million. The vessel was built in 2001. The Torm
No injuries on Swedish ferries 2008 was the second consecutive year without any reported injuries or fatalities among passengers on Swedish-flagged ferries in international traffic or on the ferry service between Gotland and the
Silja Europa to repair yard in Riga Around lunch time today, the cruise vessel Silja Europa will arrive at Riga Shiprepair Yard for repair works. The vessel will get a new rudderstock installed. Tallink Silja chose Riga
Joe Borg leaves the commission The EU Commissioner for maritime affairs and fisheries, Malta's Joe Borg, is to leave the Commission after a five-year term. He is replaced by John Dalli, today Minister for
MEPs ' tackle root causes to piracy The members of the EU-parliament have adopted a resolution targeting the piracy off Somalia, among other things. Piracy can only be eliminated by addressing its root causes, such as
Frontline's result down The tanker operator Frontline, controlled by John Fredriksen, presents a weaker Q3-result than expected. Operating revenues falls by USD 145 million to USD 28 million. The company reports a
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