DP World may pump US$1b in India port DP World may invest as much as US$1 billion in the first Indian port able to handle the largest container ships as the company tries to challenge Colombo's grip on India's maritime trade with Europe and China.
Maersk back in profit as freight rates improve AP Moeller-Maersk, the owner of the world's largest container shipping line, returned to profit in the first quarter as freight rates jumped and global trade picked up.
Proposal to break up agency policing, partnering oil firms The Obama administration on Tuesday proposed breaking up the agency responsible for both policing the oil industry and acting as its partner in drilling activities, seeking to end a decades-old relationship between industry and government that has proved highly profitable - and some say too cozy - for both.
Kuehne + Nagel to transport temperature-controlled shipments for Boehringer Ingelheim Boehringer Ingelheim Pharma Ltd., one of the world's leading and most innovative pharmaceutical companies, has chosen Kuehne + Nagel (K+N) for the management of its temperature-con...
Fiege group back in the black in 2009 Fiege, a German logistics group based in Greven, posted a profit in financial 2009, after two loss-making years. The turnover in 2009 reached EUR 1.45 billion (2008: EUR 1.8 billi...
Gebrüder Weiss expanding in western Hungary and Balkan region The Austrian forwarding and logistics corporation Gebrüder Weiss (GW) is expanding in Central and Southeastern Europe. In Budapest, the family-owned company's air & sea directo...
GAC strengthens its role as airfreight forwarder in Kuwait The shipping and logistics service provider GAC Kuwait recently opened a new branch office at Kuwait International Airport's cargo terminal. The strategically located new office a...
Germany's airfreight volume grows at record rate Germany's federal statistics office (Destatis) reported that the volume of German airfreight grew at a record rate in Q1/2010. The volume of loaded and unloaded cargo leapt by 30% ...
Iran crude floating storage levels hit record 5.8m tonnes Storage surges 28% on threat of sanctions and poor sales terms
Rising box rates help propel Maersk to profit AP-Moller Maersk returns to first quarter profit of $639m
Maersk Tankers remains in the red AP Moller Maersk's tanker division reports $1m loss
UK union attacks MCA over health and safety Responsibility for health and safety on non-seagoing ships should be transferred to Health and Safety Executive
Hapag-Lloyd returns to profit Rising volumes and freight rates boost box line
Crude storage surge continues THE IEA today trimmed its oil demand forecast for this year but reported much higher levels of floating crude storage
Strikers halt La Havre boxes BOX HANDLING was halted today in Le Havre, where workers staged the latest in a series of 24-hour strikes over the French government's port changes
Aframax charter rates jump CHARTER rates for Aframax tankers to ship crude in the Mediterranean and North Sea have surged after a shortage of vessels led to more aggressive bids for available ships
Bangladeshi ports snarled MONGLA and Chittagong ports have been paralysed since 9 May by an inland vessel crew strike in which 10 Bangladeshi union leaders have been arrested
WWL plans green terminal WWL PLANS to build and operate a zero-emission ro-ro cargo terminal by 2020
What's a 'legitimate' spill bill? BP HAS said it will pay for damages to shipping resulting from the Gulf of Mexico oil spill ' although how much remains in question
Is 'Gorgeous George' grinning? Bulker boss George Economou 'pleased' as DryShips posts first-quarter profits on the heels of a rebound in the drybulk sector.
Financier eyes tanker IPO Teekay Corp offloads three suezmax tankers to freshly minted shipping outfit with sights set on a public offering.
BP tackles timely 'hat trick' Two-tonne 'top hat' hits the water as oil giant continues frantic fight to plug oil oozing from Deepwater Horizon's underwater well.
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Vardakis fund eyes 20 Distressed-asset resales an option for new Achilles Vardakis-led private equity fund looking for over 10 ships.
StealthGas beats the Street Harry Vafias-led firm tops forecasts in the first quarter amid hope newbuilding funds are on the way.
Rate drop hurts CH Offshore Singapore offshore player sees third-quarter and nine-month profit drop as revenues wane.
Knightsbridge's tanker tonic John Fredriksen-controlled owner boosted by upturn for VLCCs in first quarter, but rates have since dipped.
Irika sells second panamax John Frangos-led company picks up $43m from sale of 2009-built bulker.
SBM sees more projects ahead Dutch FPSO player says stable oil price and low cost base means more business in 2010.
Clarksons cheers S&P rebound Chairman Bob Benton says sale-and-purchase market is experiencing a sustained recovery.
Remoy keeps on buying Rem Offshore grabs majority share of MPSV as its recent expansion drive continues.
Fire guts Colombian cargoship Three tugs help extinguish blaze in Barranquilla following welding work.
'80,000 seafarers short' Shipping needs to step up its recruitment efforts for men and women, study shows.
MPC boss spots recovery Axel Schroeder says there are clear signs a KG market recovery is underway as issuing house returns to profit.
Maersk tug saves 16 fishermen Maersk Winner helps pick up 16 crew from trawler that sunk off Angola, but three men remain missing.
Euroseas bulker hijacked Greek panamax Eleni P and 23 crew snatched by pirates in Somali Basin en route to China.
Maersk smashes Q1 forecasts Stronger container shipping results help Danish giant back to profit after five consecutive quarters in the red.
Hapag-Lloyd back in black Second quarter sees German container line finally post operating profit, turning around 2009 loss.
DFDS doubles forecast Niels Smedegaard-led Dane sees positive impact of Icelandic volcano but remains in the red.
TUI cruises to bigger profit German operator's second quarter trading better for both Hapag-Lloyd Cruises and joint venture TUI Cruises.
Hitachi Zosen profit tops bets Japanese shipbuilder's full-year bottom line races up by over 400% despite fall in revenue.
Austal shuts Tasmanian yard Australian shipbuilder laying off 116 workers by September as demand for smaller ships shrinks.
Mokster returns to STX for PSV Norwegian offshore owner pens second newbuilding in there months at its favourite shipyard.
Naikai on the way up Japanese shipyard posts bigger annual profit and forecasts better for this year.
Seaspan slumps to a loss Gerry Wang-led boxship leaser Seaspan suffers $36.6m loss on change in fair value of financial instruments.
Insurance security still big issue After 40 years in the business former Hamburg Sud risk manager Ludwig Pfeiff is a satisfied customer.
Wilh weaker as costs soar First-quarter profit slashed by two thirds at Wilh Wilhelmsen as bunker prices and finance costs bite.
Mercator profits cut in half Singapore spin-off of Indian shipowner sees income slide as long term charters renewed at lower rates.
Farstad sheds elderly PSV Oslo-listed owner books $160,000 profit following sale of idle unit.
Hull market to become less volatile Arne Birkeland of the Norwegian Hull Club is optimistic that financial pressures will be a calming influence.
Crew safe after sinking Four men rescued after coastal cargoship goes down following collision with small bulker off Japan.
Shipping at risk from rig spill Marilyn Feldman of COFR guarantor Shoreline fears there will collateral damage to shipping from the Deepwater Horizon incident.
Sales lift Marco Polo results Vessel sale and leaseback deals helps boost profits at Singapore coal barge and offshore vessel operator.
Maersk back in black The Danish A P Møller Mærsk Group returns to profit. The group reports a profit of USD 639 million for the first quarter of 2010. Last year Maersk reported a
Pirates hijacked vessel on route to India for recycling The Bulgarian-flagged chemical tanker Panega has been hijacked in the Gulf of Aden, some 100 nautical miles east of Aden, Yemen. The ship was on route from the Red
Containerships expanding in the Mediterranean Helsinki-based Containerships opens a new container service between Izmir, Alexandria, Mersin and Misurata in the eastern Mediterranean. The vessel to be employed on the service is the Port Tejo
EU Commission raises concern over Norfolk Line take over deal The DFDS takeover of Norfolk Line is not yet finalized as the European Commission has called for industry comment on the proposed acquisition, Lloyd's List reports. Interested parties have until
STX Europe seeks new funding Even if most of the financing for 2010 is secured, STX Europe will seek access to new and/or refinance existing credit- and guarantee facilities and construction loans, the company
Farstad Supply sells PSV Farstad Supply, a subsidiary to Farstad Shipping, has sold the PSV (Platform Supply Vessel) Far Viscount for USD 630,000 to an undisclosed buyer. This will give a booked profit of
Prices mainly firming across Europe Hamburg market activity quiet.
Momentum grows toward change to 1.00% sulphur fuel Many operators looking to make the change well ahead of July 1 ECA, but several buyers and suppliers still unclear about timing.
Maersk cuts bunker consumption year-on-year Container line has focused on 'increased implementation of bunker surcharges'.
Fujairah prices bounce back NYMEX showing losses in early trading.
ES&H increases oil spill response Specialised vessel will help industries prevent and clean up oil and other hydrocarbon spills.
Inventory numbers unexpected, but markets muted Little market sentiment for big swings today.
Bunker suppliers' spill response readiness under scrutiny Californian suppliers may have to show they can deploy containment booms in under an hour.
Bunker prices generally firm in key ports But Busan market continues to weaken.
Japan to enforce Antarctic heavy fuel oil ban Japanese parliament has enacted a legal revision to prevent accidental oil pollution.
Wärtsilä gas generators to power FPSO vessel QUIP and BW Offshore to operate the first gas-powered FPSO.
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