Funding gap for new aircraft poses challenge ALTHOUGH the global aviation market is on recovery mode, the industry is facing a potentially dangerous funding gap for aircraft deliveries through 2010.
Baltic Dry Index unchanged, ore cargoes support demand The Baltic Dry Index, a measure of shipping costs for commodities, was little changed on Monday as rates rose for the largest class of vessels in the gauge and declined for two smaller ship types.
Strait Talk
Lines need to justify operations YET again, Asian shippers are up in arms over increases in liner freight rates. This time, the point of contention is an emergency revenue charge (ERC) brought in by the Transpacific Stabilization Agreement (TSA).
Funding gap for new aircraft poses challenge ALTHOUGH the global aviation market is on recovery mode, the industry is facing a potentially dangerous funding gap for aircraft deliveries through 2010.
Baltic Dry Index unchanged, ore cargoes support demand The Baltic Dry Index, a measure of shipping costs for commodities, was little changed on Monday as rates rose for the largest class of vessels in the gauge and declined for two smaller ship types.
Strait Talk
Lines need to justify operations YET again, Asian shippers are up in arms over increases in liner freight rates. This time, the point of contention is an emergency revenue charge (ERC) brought in by the Transpacific Stabilization Agreement (TSA).
Ceva renews contract with Mannatech in South Africa Logistics service provider Ceva Logistics has renewed its partnership with Mannatech with a three-year contract to manage the latter company's supply chain in South Africa. Ceva wi...
Gebrüder Weiss acquires a stake in Diehl The Austrian transport and logistics service provider Gebrüder Weiss has acquired a 25% stake in Wilhelm Diehl, an international freight forwarder based in Esslingen (Ger...
CMA CGM announces rate increases The French shipping line CMA CGM will increase rates in the trade from North Europe to the Mediterranean by EUR 100/teu and EUR150/feu on 1 March 2010. From North America to M...
Luka Koper's 2009 throughput Throughput at the Slovenian port of Koper amounted to 13.1 million t in 2009, 18% less than in 2008. The changes varied between terminals and the type of cargo handled. Measured in...
50 new locomotives for Brazilian sugar products GE Transportation has agreed to deliver 50 new AC44i locomotives to the Brazilian sugar company Cosan. They are to be used for freight transport by Cosan's logistics subsidiar...
Amtrak to order 100 locomotives The US rail service provider Amtrak has included purchase plans of more than 100 locomotives in a 2010 outlook statement, but it gave no details about how much money it will spend ...
Derba Cement orders 1,000 trucks The Swedish vehicle manufacturer Volvo Trucks has signed an agreement to deliver trucks to Derba Cement in Ethiopia. The customer aims to buy 1,000 trucks, of which 550 are to be d...
USA facilitating Haiti earthquake relief effort through airport The US Department of Transportation (USDOT) has taken steps to facilitate the rapid flow of rescue and relief personnel and supplies to Haiti following the recent major earthq...
California's B.H.I.T. Inc changes name to Banyan Rail Services Inc The US company B.H.I.T. Inc, which is headquartered in Boca Raton FL, is changing its name to Banyan Rail Services Inc, because the firm's plans to grow through the acquisition of ...
Norbert Dentressangle wins UK government contract The French logistics service provider Norbert Dentressangle has won a contract to handle national warehousing and distribution for England's highways agency, which is an executive ...
Gruber Logistics opens Bari branch The Italian transport and logistics enterprise Gruber Logistics, which is headquartered in Auer near Bozen (South Tyrol), recently opened a new branch in Bari in southern Italy. Gr...
Fedex Freight and Fedex National LTL increase rates in North America The companies Fedex Freight and Fedex National LTL, both subsidiaries of Fedex, have announced plans for a 5.9% general rate increase. The hike, which will take effect on 1 Februar...
Asian piracy trends traced PIRACY attacks in Asia increased 5% last year from the previous year's figures
Wärtsilä axes 1,400, goes east FINLAND'S Wärtsilä is laying off 1,400 staff and moving much of its production to China, it told Fairplay today
KG ships pulled from brink ONE-SHIP companies managed by Hamburg KG houses Ownership and Nordcapital have been saved from insolvency in the box ship sector through fresh cash injections
Maersk chassis scheme grows MAERSK Line is expanding its intermodal truck chassis program to seven midwestern US cities, in the second extension of the program in two months
MarAd mobilises for Haiti MARAD is sending five ships from its reserve fleet to earthquake-ravaged Haiti to establish a temporary link between vessels and the capital, Port-au-Prince
Yard's back pay covered SPAIN'S regional government of Andalucia said today it has paid a subsidy of nearly €500,000 ($714,000) to Astilleros de Huelva to cover the yard's unpaid wages
Statoil wins offshore licences NORWAY'S Statoil today said it has been awarded shares in eight offshore exploration licences on the Norwegian continental shelf
Clock runs out Euronav says FSO Africa conversion was not completed by today's deadline, giving Maersk Oil the right to cancel.
Long Beach rises December sees first rise in container throughput at US west coast port in two years.
Euronav in loss Belgian tanker owner reports that it was $31.1m in the red in the fourth quarter but expresses optimism for the year to come.
Pirates 'pay crew' Cooperation of Maran Centaurus crew in seven-week hostage drama leads to $0.5m pay day from pirates, source claims.
OSG resisted Bankrupt Bender Shipbuilding pushes back on effort to potentially foreclose on a leased yard facility.
Tanker race ahead Poten & Partners says next few weeks will see 90 Arabian Gulf cargoes chasing just 50 VLCCs, potentially pushing up tanker rates and asset prices.
Brazil's FPSO hunt Gabrielli-led Petrobras is scheduled to receive proposals for a five-year charter of an FPSO capable of producing 30,000 barrels per day.
CFO steps down New York-listed Kirby Corp looking for new finance chief after Norman Nolen's retirement.
Wet worry Four in five tanker charterers see no strengthening of rates this year, survey says.
Delaying game President Zhang Liang says Cosco may hold up more newbuildings despite bullish dry-cargo outlook.
Growing glut Idle boxship numbers dip in the short term but Christmas 2012 will see laid-up bundle reach record level, Alphaliner says.
Up for auction Swedish chemical tanker Dover to be sold off by Danske Bank following bankruptcy of Elgar Shipping.
Same again Suez canal chiefs keep 2010 tariffs unchanged despite slump in revenues last year.
Dry cargo hike Protection and indemnity reinsurance rates for bulk carriers and containerships to rise by nearly 5%.
Black Sea break Turkish ship breaking up after grounding north of Istanbul, coastguard says.
On track India's plan to develop Sittwe port in Myanmar moves step closer with issue of tender.
Kodiak sails ExxonMobil tanker which lost power off Alaska on the move again with repair plan hatched.
China bound Finnish engine builder Wartsila moving propeller and auxiliary engine production east to "stay competitive".
ABG to sell Talks begin over Indian shipyard's offloading of $60m stake in shipowner Great Offshore.
Barge supplied Russia's Sosnovsky Shipyard building second supply unit for federal agency Rosmorrechflot.
$80m deals Mystery "oil supermajor" and offshore outfit sign charters with Lion Lee's Ezra Holdings in Africa.
Help for Haiti Carnival Corp donating at least $5m to relief efforts in earthquake-ravaged Caribbean island.
Green car carrier MOL, Mitsubishi and Sanyo team up to develop hybrid power supply system for new car carrier.
Bookings boost Norwegian owner Hurtigruten says first quarter cruise business up by 45% year-on-year.
Daewoo cruising South Korean yard closing in on first cruiseship order from Greek owner.
Maersk Line offers free transport of UN aid to Haiti A P Møller-Mærsk has donated free transportation for UN aid to Haiti. Maersk Line provides two craned container vessels for aid delivery to Port au Prince. The cranes on
Correction: Wrong owner of the Viire There was an error in a Shipgaz news item on January 15 where the Viire, ex Superflex Charlie, was mentioned. The Viire is laid up in Nakskov and is put
Container fleet overcapacity will go down in 2013 The current over capacity in the container shipping market is forecast to remain until 2013, based on the latest Alphaliner fleet projections. 'The idle containership fleet, which presently stands at
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