Bulk ship rates seen rallying on key routes FREIGHT rates for large dry bulk carriers on key Asian routes are expected to rally next week, analysts and shipbrokers said yesterday, as Chinese steel producers book iron ore vessels for fourth-quarter production.
Market looking good, says engine maker Wartsila SHIP and power plant engine maker Wartsila said on Wednesday a market pick-up still showed strength, but uncertainty was holding back decisions on large investment projects.
Oil contango doubles as bet is on 2011 recovery OIL traders are showing increasing confidence that the United States economic growth will rebound next year as they take advantage of the widening gap between current prices of crude and contracts for delivery six months from now.
Turkish freight enterprises fined millions by competition commission The Turkish competition commission Rekabet Kurumu has imposed fines amounting to millions on three Turkish freight enterprises, for price collusion between 2006 and 2008. The firms...
Night Star Express certified as environment-friendly The German CEP company Night Star Express has been certified as compliant with the environment management standard ISO 14001:2004, after an audit was carried out by the German cert...
Gazeley leases logistics space to Magna subsidiary The global real estate developer Gazeley has gained a new tenant at its Karlsruhe-Kandel logistics park (Germany). The newcomer is the Magna Exterior & Interior group...
Panama Canal Authority and Antwerp Port Authority enter partnership The Panama Canal Authority (ACP) and the Antwerp Port Authority have signed a memorandum of understanding to foster commercial activity between the two authorities. The memorandum,...
Jorge Martinez joins TransNatur in Barcelona Jorge Martinez joined TransNatur at the beginning of September, as the general coordinator of its sea and airfreight departments for Spain and Portugal. He will be based at TransNa...
NYK Line to become NYK Container Line NYK Line (Japan) is set to change its name to NYK Container Line on 1 November, when business is transferred from Tokyo Senpaku Kaisha (TSK) to Nippon Yusen Kabushiki Kaisha. TSK's...
Global container volumes 2010 expected to be higher than 2008 Global container volumes are expected to grow by 11.6% and reach 545 million teu in 2010, according to AXS Alphaliner's prediction. This would not only bring the figure to a greate...
No Globaltrans stake in VGK VGK, a freight operator spun off from the Russian Railway RZD, is set to remain a 100% subsidiary of the latter corporation. Negotiations concerning a stake in VGK for the logistic...
EU sanctions could hit NITC P&I cover Brussels sanctions on Iranian entities could prevent tanker giant from obtaining P&I and hull and machinery cover from its current providers
Caution the watchword on trade with Iran
Sanctions against Iran will hit Malta flag
Brussels throws in the towel on EU shipyards
Shipbrokers refuse to back Baltic central screen Non-compulsory broker nomination is the main concern
Mixed reaction to dry central screen
Eight piracy suspects seized as German boxship is freed At least eight piracy suspects detained as result of US Navy intervention
Standoff as Somali pirates board boxship
OSG's bullish outlook for product tankers called into question Arntzen's predictions of shrinking MR fleet are disputed, but LR1 outlook more...
Container ship recaptured US MARINES this morning recaptured the box ship Magellan Star from Somali pirates in the Gulf of Aden, Fairplay was told
US river dredging rejected REGULATORS in the US have rejected a proposal to remove millions of tonnes of sand and gravel from the Missouri River
Pipavav shares leap on debut NEW SHARES in India's Pipavav port soared 25% today after the stocks were listed on the Bombay Stock Exchange
VLCC storage surge predicted CRUDE stored on VLCCs is likely to surge in coming month as traders wait for higher winter prices, an investment bank report said today
Recovery slows but trade steady RECOVERY from the global recession might be easing, a report from the OECD said today
US cracks down on liners THE US has ordered liner companies to submit meeting transcripts, in an attempt to address accusations by shippers' groups that the lines collude to push rates up
Pirate pleads guilty ' again SOMALI Jama Idle Ibrahim has pleaded yesterday to piracy, in his second such US conviction in two weeks
Alterna seeks 'happy marriage' Alliance forged by Western Bulk and Connecticut-based private equity player may offer insight into inking $150m deal.
Ousted tug bosses cop a plea Executives at DRD Towing own up to charges tied to Mississippi smash-up between barge and Swedish tanker.
Two vessels in Red Sea scare Tanker Pacific aframax and Israeli boxship said to have been threatened by large number of pirates in Bab el-Mandeb.
Tipsy tanker master fined Norden-controlled chemical carrier detained in UK after pilot tips police to inebriated captain and ship defects.
Navibulgar ship free Chemical tanker hijacked in May on way to the breaker's yard released by Somali pirates, owner says.
Songa Saturn shifts orbit Arne Blystad-backed offshore outfit on the brink of forging deal for idle drillship.
Zacchello bids to get back on course Restructuring of companies hit by time charter market downturn moves into new long term phase.
US Navy frees Magellan Star US Navy secures release of German boxship boarded by pirates on Wednesday, nine pirates arrested.
Greek bulker held in UK Firodi Shipping handysize Feroi spent four days clamped at Tilbury after 24 deficiencies found.
Grieg grabs two more at Mipo Camilla Grieg-led owner confirms two of four optional contracts for open-hatch bulkers in Korea.
Pipavav port's shares up on debut Maersk-controlled Indian terminal enjoys stock rise of up to 27% on Mumbai debut.
Goa grabbing coast guard deal Indian shipbuilder in talks to carry out all repair and maintenance work on country's coast guard ships.
Olympic adds one at STX Stig Remoy-led Norwegian owner orders LNG-powered supply ship for construction in Norway.
Ashika four plead not guilty Tongan ferry disaster trial adjourned until October, with defendants facing up to 25 years in jail if convicted of manslaughter.
P&O axes 70 onshore jobs UK ferry giant targeting savings at its Dover head office, while pension scheme also being reviewed.
Globus sneaks a profit George Karageorgiou-led bulker owner back in the black despite smaller fleet than a year ago.
Ferry thieves drop a clanger Attempt to pinch cash machine from BC Ferries vessel in Canada meets a soggy end.
BWO wins Athena gig Norwegian offshore player scoops potential $500m contract to supply FPSO for North Sea.
Yujin interim profits sink Singapore small tanker operator suffers due to continued "difficult economic environment."
Delta boxship stuck in Russia Engine failure leaves German owner facing two weeks of repairs to Delta Hamburg.
Ekuinas ups Tanjung stake Malaysian government-linked fund lifts shareholding in domestic offshore vessel operator to 24%.
Suez Canal getting busier Transits and revenue up during August at Egyptian waterway, signalling continuing shipping recovery.
Cruise West cancels voyage Tight-lipped Alaskan line halts global voyage and prepares asset sales as part of mysterious restructuring.
US imports set to peak Trade body says inbound container volumes will be up 16% this month, but numbers now set to decline.
Chemical tanker hijacked The Malta-flagged chemical tanker Olib G has in all probability been hijacked in the Gulf of Aden. After a report from an undisclosed merchant vessel that a skiff was
Island ferry service to close down The ferry service from Fåborg to S'by on the Isle of Ærø will be closed down within the next years, as the ferry Søbyfærgen is due for a special survey
Oil up on surprise numbers, economy Support holding prices above $75 per barrel.
Strong distillate gains in Rotterdam, Hamburg NYMEX showing small gains in early trading.
Supplies of 180 cSt material tighten in Fujairah Durban prices climbing.
Another LNG power vessel on order from STX Shipbuilding group has already delivered six LNG powered vessels and has five more on order.
Singapore fuel oil stocks jump to 16-week high Arrival of delayed arbitrage cargoes sees inventories swell.
Yujin bunker tankers 'perform well' Operating profit from four vessels climbs to $1.46 million in first half-year.
Bunker prices remain firm, surge in Busan Supplies in Korean hub 'very tight'.
New bunker trader at Dan Bunkering Joins bunker fuel sales team in Middlefart.
South Korean port faces tightening bunker supplies Local refiners 'restrict' supplies to prop up bunker prices.
WFS secures increase in credit facility to $800 million Credit facility modified to enable WFS and its subsidiaries to make 'any acquisitions' without prior consent of lenders.
Wärtsilä clinches deal to fit gas propulsion engines on LNG carriers Wärtsilä's 50DF engines offers flexibility in fuel choice and 'significant' operating cost savings.
O.W. Bunker launches physical ops in Uruguay Seeks to increase presence in key global regions, including South America.
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