Industry players turn to Asia for growth As heavily indebted Greece slumps into a prolonged economic crisis, shipping industry players like Michael Bodouroglou are setting their course for Asian markets in the hunt for profits.
Greek port hit by debt crisis The giant container cranes lie still in the haze of a warm spring afternoon in the port of Piraeus near Athens - a vital commercial hub for the economy since the days of ancient Greece.
BP plans to grab more leaked oil BP plc forged ahead yesterday with efforts to stem its leaking Gulf of Mexico oil well, amid fears that powerful currents were pushing the slick towards prized US tourist resorts and fisheries.
Agility sees dramatic fall in Q1 profit Agility, a global logistics company based in Safat (Kuwait), had a poor first quarter this year. Its net profit plunged by 50% from KWD 40.8 million (USD 139.64 million) to KW...
RH Freight announces GBP 1 million branch project The UK-based company RH Freight has launched its most ambitious recruitment drive to date, as part of its long term strategy to boost sales, improve customer service and drive long...
Brenntag on a good track in Q1/2010 The chemical distributor Brenntag, based in Mülheim an der Ruhr (Germany), has released its first set of quarterly results since its initial public offering at the end of March. Br...
Cuxport increases throughput by around 33% The multi-purpose terminal at Cuxport (Germany) raised its throughput by more than 32.6% to 375,665 t of freight in Q1/2010. The rise in tonnage came mainly from project ...
A new CFO at Green Cargo The Swedish freight railway Green Cargo installed a new chief financial officer in the shape of Mariann Östansjö on 3 May. She is the successor of Gunner Andersson, who h...
Shipowner associations welcome support for Rotterdam Rules The European Community Shipowners' Association (ECSA), the International Chamber of Shipping (ICS), BIMCO and the World Shipping Council (WSC) have greatly welcomed the clear recom...
APM Terminals introduces crane and engineering services APM Terminals, an independent division within the Danish A.P. Moller-Maersk Group, has launched APM Terminals Crane & Engineering Services (CES) as an independent service provi...
Baltic plans FFA central screen THE BALTIC Exchange has signalled the end of its courtship of the London Metal Exchange by confirming plans for a central screen system for trading dry freight derivatives
French ferry support challenged A REPORT commissioned by the French government reportedly calls for changes to public subsidies for ferry services to Corsica
Shipping seeks anti-piracy action A GLOBAL coalition of shipping organisations has formed to demand stronger action from governments to stop piracy
Caribbean sees mild recovery CARIBBEAN shipping slumped into recession later than other trades and is taking longer to emerge, Caribbean Shipping Association president Carlos Urriola has told Fairplay
Export rise cuts Spanish deficit SPAIN has posted a 14.8% year-on-year increase in the value of exports to €42.73Bn ($52.8Bn) for the first quarter
West Africa anti-piracy hub sought WEST AFRICA needs an anti-piracy centre similar to East Africa's MSC(HOA), British Chamber of Shipping president Jan Kopernicki has told Fairplay
Gloomy heavy lift market seen STRONG newbuilding contracting during the boom years will depress the breakbulk/heavy lift markets for years to come, Jumbo Shipping board member Fred Bedford has warned
Star Bulk stuck in the red Greek shipowner Star Bulk Carriers posted a consecutive quarterly loss but top brass says the future is looking bright.
Edison Chouest yard under fire Taxpayers 'enraged' by US port commission's $10m bid for hurricane cash to build drydock at Louisana-based LaShip.
Horizon Lines lands legal victory Chuck Raymond-led liner outfit breathes sigh of relief as judge dismisses a class-action lawsuit filed by angry investors.
BaltEx to roll out screen trading Veil of secrecy lifted as the Baltic Exchange prepares for trading dry bulk futures contracts on central screen.
Navios ties up $458m tanker deal Navios Acquisition shareholders gear-up to give green light for 13-ship foray funded by its Greek parent Navios Maritime Holdings.
Hubbard quits Galbraith's Nick Hubbard has stepped down as managing director of London shipbroker Galbraith's less than a year after taking over the reigns.
Saudi axes two at SLS NSCSA looking for $76m refund as delivery delays put paid to products tanker duo at Korean yard.
Fund in second Globus sell-off Kairos Investment Management offloads $1.8m worth of stock in London-listed bulker owner.
Ceres rings the changes Peter Livanos-controlled group appoints new boss at management arm CTM as Gary Weston moves to DryLog top spot.
Pori yard jobs cull begins Technip to cut workforce at its Finnish shipyard as work runs dry.
Tanker torment for DHT New York-listed owner slides to a loss in first quarter as revenues contract.
Cantor: 'Time to buy TEN' Cantor Fitzgerald's Natasha Boyden upgrades Tsakos Energy Navigation after recent stock slip opens window of opportunity.
Farstad falls short in first Norwegian owner hurt by currency losses and falling revenue as it misses forecasts in the first quarter.
More bulker switches at Mipo Korean yard agrees to European owners converting chemical tanker orders to eight dry cargo vessels.
Nordic Tankers lands $40m Tommy Thomsen-led shipowner boosts its balance sheet as Indian conglomerate Siva joins Clipper as a key shareholder.
KfW finances ferry newbuildings German bank provides 75% of cost of Scandlines' new ships at Stralsund.
Golar sets up cargo wing Spin-off set up by Oscar Spieler-led Golar LNG Energy to manage and trade gas cargoes.
Spliethoff ship refloated by tugs Dutch multipurpose vessel freed after grounding off the Netherlands with clay cargo.
Tanker crew: "You are our hope" Two Ghanaians slip South African officials a note saying their vessel is not safe.
Hedges hammer Norden Carsten Mortensen-led Dane sent down in first quarter on bunker and FFA contracts but increases full-year targets.
Dof sells AHTS newbuilding Vietsovpetro Joint Venture pays $65m for anchor handler nearing completion at STX Europe's Vung Tau shipyard.
Cargoship grounds on reef Australian authorities say Chinese vessel may be leaking oil and is taking on water off Papua New Guinea.
Torm defends staff exits Recent spate of resignations at Danish shipping giant "part of everyday life in our industry".
Currency bites Dof in Q1 But Helge Mogster-backed company pushes up operating profit in the first three months of 2010.
Maersk Alabama pirate guilty Somali hijacker of US-flagged boxship faces over three decades in jail after pleading guilty in New York.
STX pens JV in Middle East South Korean shipowning giant eyeing increased coal cargoes through tie-up with Seatrade.
Aboitiz vows to add ships Philippines ro-ro player to use debt sale to fund second-hand acquisition drive.
US growth set to continue US port box volumes continue on road to recovery with 10% projected increase in May, says trade body.
Mosvold cans Otto AHTS Norwegian shipowner finally pulls the plug on first of four anchor handlers building in Indonesia.
Green and Silver merge reefers Norwegian owners form joint venture company for 14 of their smallest vessels in northern Europe trade.
Titan removes Angeln oil US salvor removes fuel from feeder containership that sank mysteriously in Caribbean in February.
BW Offshore breaks even Oslo-listed FPSO player turns around year ago loss to inch into the black in 2010 first quarter.
Jutha profits jump five fold Forex gains and reduced costs help Thai multi-purpose vessel operator to bumper first quarter.
Moody's affirms Asciano rating Rating's agency leaves Aussie port operator's credit rating unchanged following asset value write-down.
New international campaign calls for action against piracy A broad coalition of organisations have joined forces in a new international anti-piracy campaign. They demand concrete action to end the Somalia-based piracy. Under the watchword "Enough is
Nordic unions say no to Swedish second register The Nordic Transport Workers' Federation, NTF, that organises 50 transport unions in Denmark, Finland, Norway and Sweden, has, at its congress held in Bergen, agreed on a statement that is
Six pirates sentenced to death by Yemeni court A Yemeni court has sentenced six Somali pirates to death and jailed six others for the hijacking of a product tanker in April last year. The pirates were found guilty
Two seized vessels appear off the Somali coast The Bulgarian-flagged chemical tanker Panega which was hijacked in the Gulf of Aden, some 100 nautical miles east of Aden, Yemen, on May 11 has anchored in the vicinity
Strong price falls in Middle East hub One player reported to have tight avails.
'No future' for high-speed ferries Operators think future ECA fuel costs would make high-speed ro-ro services in Europe unviable.
State oil company to partner Fujairah terminal Azerbaijan's state oil company says volumes in Fujairah energy hub likely to 'increase substantially'.
European businesses unite to attack ECA regulations 'We find the rules applicable in the Baltic, North Sea and English Channel unacceptable,' say business groups.
Petrobras preparing to sell 1.00% sulphur fuel in Singapore Still seeing mostly 1.50% sulphur enquires but expects it to change soon.
Grindrod acquires ARA bunker player Gains four bunker tankers; Cockett will 'enhance its position in the Rotterdam market'.
Key ports see double-digit plunge Demand below average at most of the key ports.
Bunker hedging losses eat into Norden Q1 profit The Danish firm's net profit down 13% due to hedging losses of $1 million.
Asia: BP buys large volumes of fuel oil for fourth straight session Fuel oil cracks at a two-month high but market remains 'fundamentally weak'.
Lubes firm to strengthen position in Asia Gulf Oil Marine eyes opportunities in the region.
Maersk unit orders two eco-tugs Equipped with diesel electric engine and technologies to reduce fuel consumption and CO2 output.
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