Consolidation in shipping to rise in 2011: survey Acquisitions and joint ventures in the shipping sector are set to pick up next year as prospects improve for seaborne trade and optimism among freight players grows, a survey showed yesterday.
STX Pan Ocean to invest US$1b on new ships STX Pan Ocean Co, South Korea's largest bulk-shipping line, said that it plans to invest US$1 billion on new vessels after third-quarter profit almost quadrupled on rising demand for commodities shipments.
Cargo ship carrying nickel sinks off Japan A cargo ship with 25 Chinese crew on board sank off Japan's southern islands, with only five crew accounted for including one fatality, Japanese and Taiwanese coast guards said yesterday.
Aponte, Grimaldi and Onorato join forces to save Tirrenia The Italian shipowners Gianluigi Aponte, Emanuele Grimaldi and Vincenzo Onorato have joined forces to aid the process of privatisation of the insolvent Tirrenia ferry company. Thei...
BLG Logistics ships off-shore wind industry consignments Performing logistics services for the off-shore wind farm industry is a growing business segment for the Bremen-based German company BLG Logistics Group. Wind farm company Bard Off...
Record cargo throughput in Luka Koper Luka Koper's container terminal handled its 400,000th teu of the year on 8 November, according to a port spokesperson. The container facility continues to attain above-average grow...
NOL Group deeply saddened by the passing of former chairman and CEO Lua Cheng Eng NOL Group, a shipping corporation based in Singapore, is mourning its former chairman and CEO Lua Cheng Eng, who died on 9 November. A statement from the company said tha...
LAN and LH satisfied with EU anti-cartel measures As recounted in yesterday's ITJ Daily, the European Commission has reported the imposition of a total of EUR 800 million in fines for eleven airlines. The German carrier Lufthansa ...
Mallory Alexander acquires Tradesource Mallory Alexander International Logistics, based in Memphis TN (USA), has expanded its third-party logistics operations by acquiring the international forwarder Tradesource Inc, ba...
Deutsche Post remains optimistic Deutsche Post DHL continued this year's sound performance in the third quarter, generating a double-digit revenue increase. The management board now expects the group's underlying ...
DB Schenker expanding Berlin distribution centre Deutsche Bahn's logistics subsidiary DB Schenker is investing EUR 9 million in the expansion of its Grossbeeren freight centre, south of Berlin. DB Schenker's customers in the Berl...
China signs contract for 102 Airbus aircraft The China Aviation Supplies Holding Company (CAS) recently signed a contract with Airbus for a total of 102 aircraft, of which 66 are new orders. The new orders include 50 A320s, s...
Air Astana breaks Etihad's Abu Dhabi monopoly Air Astana, Kazakhstan's national carrier, has broken Etihad's monopoly on flights between Kazakhstan and Abu Dhabi with the start of the winter schedule. Air Astana h...
'Spam cruise' nears an end TUGS HAVE reportedly pulled a fire-damaged Carnival cruise ship into San Diego Bay
Vietnam-Cambodia service opens BOX BARGES are reportedly carrying cargo in the first such scheduled service between Vietnam and Cambodia
Pirates hijack tanker PIRATES seized a Panamanian-flagged chemical/products tanker about 860 n-miles from the Somali coast today, according to EU NAVFOR
Manila reforms contracts CONTRACTS for Filipino seafarers working on oceangoing ships have been reformed, Manila said today
Farstad profits lag A DROP in Farstad Shipping's net profits in the third quarter has made it increasingly unlikely that the Norwegian company will match 2009's yearly results
FreeSeas swings to losses HANDYSIZE specialist FreeSeas reported worse results than expected today but maintained that market conditions for smaller bulkers are improving
Kremlin oil duty plan attacked RUSSIA'S oil refiners and exporters are jointly opposing a finance ministry proposal to impose higher duty on exports of petroleum products
Putting shipping in sharper focus Readers at sea, in yards and shipping offices are getting their cameras out for TradeWinds's annual photo competition.
George grabs Falkland deal George Economou's DryShips nets $77m contract for semi-submersible with Borders & Southern.
FreeSeas doesn't need a Hero Impairment loss on sale candidate Free Hero leaves Ion Varouxakis-led Greek bloodied in third quarter.
Write-downs hurt Sweden's Srab Tanker owner logs big nine-month loss as it revalues fleet in weak markets.
One hijacked, one in the balance Pirates capture tanker and 31 crew but situation concerning German ship BBC Orinoco still unclear.
Owners leaving their greens Appetite for acquisitions returns but a carrot is needed to spur environmental investment, survey shows.
Galp reveals $3.46bn FPSO order Group including Portuguese energy company will take delivery of eight production units from Brazil's Engevix by 2017.
Ghana gig for Gulfmark pair Two of US-listed owner's anchor handlers to leave the North Sea for West Africa in $15m deal.
Power restored on drifting ship Engineers fix problem on Fugro research vessel heading for rocks after it dragged anchor off the UK.
Shipping spurs profit at WWI Thomas Wilhelmsen-led company books better than expected operating numbers with the aid of its separately-listed shipping and logistics firm.
Debt pay-back for STX Europe Europe's largest shipbuilder will use much of its own proceeds from Singapore IPO to cut debt.
VLCC in trio of pirate attacks Faulty pirate engine saves Euronav's Flandre as German ship BBC Orinoco and tanker Hannibal II feared hijacked.
Swire denies poor ship maintenance Owner and master of Pacific Adventurer to defend Australian pollution allegations.
Volga-Don rakes in the roubles Russian cargoship owner pushes up profit sixfold in first nine months.
PNSC makes much stronger start Pakistan national tanker and bulker owner more than doubles first quarter profit.
Bergen bags rebuilding job A Dof seismic vessel is set for a $30m facelift at the Norwegian yard.
Tirrenia sale attracts 16 buyers Aponte, Grimaldi and Onorato consortium faces stiff competition in race to buy state ferry company.
Green Reefers still feeling the chill Norwegian owner's losses mount in 2010 as hopes of market recovery fail to materialise.
STXPO in strong quarter South Korean owner sees four-fold increase in third quarter profits on the back of stronger rates.
Kidnapped Bourbon trio free French crew abducted from an anchor handler off Nigeria released after two months in "difficult conditions".
Ultrapetrol down in third Felipe Menendez-led owner posts larger loss as ocean shipping declines but river and offshore businesses boom.
Seadrill orders at Samsung John Fredriksen-controlled driller takes recent rig investments to almost $1.5bn in less than a month.
Up and down for Chemoil Singapore tanker and bunker group back in profit in third quarter but nine-month result turns red.
Nasco Diamond three rescued One other body recovered but 21 remain missing from Chinese bulker Nasco Diamond which sank off Taiwan.
STXPO's $1bn order frenzy South Korean shipowner says it is ordering a slew of open-hatch and kamsarmaxes bulkers.
Aegean profits drop 70% US-listed bunker player sees revenues and volumes sold jump, but higher costs slash net income.
Barge grounds after losing tow Sault Au Cochon drifts on to sandbar with timber cargo in high winds near Prince Edward Island.
ASL Marine down a third Singapore offshore shipbuilder and repairer sees another poor quarter as revenues slide by over 30%.
Ex-NOL chairman dies Singapore shipping veteran and former BIMCO president Lua Cheng Eng has passed away aged 72.
Todd Shipyards soars in second New ferries for Washington state helps lift US shipbuilder's profit and revenue.
Hannibal seized by pirates Early in the morning of November 11, the Panama-flagged chemical and product tanker Hannibal II was hijacked some 860 nautical miles east of the Horn of Africa, EU Navfor
Wilh. Wilhelmsen reports another strong quarter Wilh. Wilhelmsen has added another strong quarter to 2010. Its operating profit for the third quarter was USD 74.3 million, up from last year's USD 47.8 million
Mærsk expects a USD 5 billion result in 2010 A. P. Møller-Mærsk has clearly left the recession behind ' the group posted a net profit of USD 4.2 billion for the first nine months of 2010, compared to
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