US-bound boxes pile up in Busan South Korea's biggest port, overwhelmed with empty containers a year ago, is now dealing with shipping lines that have more cargo than they can carry.
Mine from N Korea may have sunk naval ship: S Korea North Korea may have deliberately directed an underwater mine towards the South Korean naval ship that exploded and sank three days ago near a disputed maritime border, the defence minister told lawmakers yesterday.
NOL container volume rises 37% NEPTUNE Orient Lines' (NOL) container volume rose 37 per cent for its second operating period of 2010, from Feb 6 to March 5, to 189,100 forty-foot equivalent units (FEUs) from 137,800 FEUs previously and encouragingly the rise came on the back of an 8 per cent increase in average revenue per FEU to US$2,575 from US$2,382 in 2009.
Gist wins UK regional distribution contract The UK logistics provider Gist has strengthened its relationship with office supplies wholesaler VOW by taking over the latter's delivery operations in southwestern UK. The new con...
Geodis Wilson opens new airfreight office in Dubai The global forwarder and logistics service provider Geodis Wilson has opened a new airfreight office in Dubai, in order to support increasing demand for this service as well as for...
Metro Group Logistics rents German perishables facility Metro Group Logistics has rented 5,800 sqm of chilled logistics facilities to handle perishables in the so-called nextpark in Gross-Gerau near Frankfurt (Germany). The German compa...
US and EU agree on stage two of open skies talks The USA and the EU have reached agreement on the expansion of their 2007 open skies agreement. It will allow for greater cooperation on a wide range of aviation issues. While the A...
Newbuilding prices rise as orders grow Leading South Korean and Chinese yards report full schedules for 2011 with orders stretching into 2012
Alba Maritime Services faces Pipavav order cancellation Athens-based company is in negotiations with Indian shipyard to cancel the construction of 12 panamax bulk carriers for $44m each
HSBC gives bleak outlook for boxes Container shipping faces a 'listless' two years as rate recovery is 'crushed by overcapacity, industry indiscipline and slowing demand...
MPC Capital agrees orderbook financing Major shareholders have agreed to a €20m capital injection
Socatra orders four tankers from Hyundai Mipo Bordeaux-based company moves to take advantage of newbuilding prices and expected market demand for handysize vessels
Pirates seize ro-ro off Yemen PIRATES have hijacked a Panamanian-flagged ro-ro cargo vessel about 10 n-miles off Yemen's Port of Aden, EU NAVFOR told Fairplay today
WSC hints at green rates rise THE WORLD Shipping Council has warned that increased carrier costs due to new anti-pollution regulations in the US will likely lead to higher transport rates
MPC obtains covenant waiver HAMBURG KG house MPC Capital has obtained a waiver of certain covenants along with the renewal of existing credit lines and bridge loans from its banking partners
Alaska head tax cut sought ALASKA Governor Sean Parnell has submitted legislation to slash the state's head tax by 15% in the wake of a severe pullback by the cruise industry
Tankerska profits halve CROATIAN shipping company, Tankerska Plovidba, has told Fairplay that its year-on-year profits halved in 2009
Nord Stream LNG cut seen A NEW REPORT suggests price competition from shipborne LNG could lead Gazprom to cut deliveries through the planned Nord Stream pipeline
Knutsen seeks tanker listing NORWAY'S Knutsen OAS Shipping is planning to list its shuttle tanker operation on the Oslo Stock Exchange under the name of Knutsen Offshore Tankers
Blumenthal on selling spree Hamburg-based Johann MK Blumenthal is said to have secured $31.7m after offloading two bulkers.
Scrapping to spark big benefits Philippe Louis-Dreyfus urges industry to embrace ship scrapping as solution to overcapacity issues.
Navios preps cash hunt Angeliki Frangou-led bulker outfit files $500m shelf registration with US securities regulators.
Analyst picks portfolio plays Deutsche Bank analyst predicts OSG and DSX as 'best-of-breed' ways to cash-in on market movement.
TEN mulling share sale New York-listed tanker owner says an equity issue is an option if it takes over its parent's two drillships.
Andersen's axe poised again AP Moller-Maersk boss Nils Andersen wants to cut a further $500m this year amid warning the financial crisis could be repeated.
LDA hedges against volatility Louis Dreyfus Armateurs boss predicts potential in a variety of 'non-traditional' shipping segments.
Pirates claim Azal ship Dubai-owned Iceberg I seized near the port of Aden as pirate activity heats up.
Condor adds former aid ship Cross-Channel operator brings in ex-Australian navy catamaran for French run.
Bergen has Spring in its step Norwegian shipbuilder's shares on the march as Spring Capital Resources tops up its holding.
Knutsen lines up $500m IPO Trygve Seglem plans his first trip to the capital markets with an Oslo float for product tanker fleet.
Brittany brought low by slump French ferry owner posts loss for 2009 as passenger numbers decline.
Petrobras takes Eidesvik PSV Brazilian oil major hires Viking Surf on deal worth $35m over the next four years.
"A house of cards" Sovcomflot case's chain of evidence could be broken on weak links in bribery allegations, Yuri Nikitin's barrister claims.
Norwegian owner Ugland dies Chairman of JJ Ugland companies, Johan Jorgen Ugland, passes away at 88.
Spirongate four shown the door Rio Tinto axes staff jailed after bribery and corruption scandal as it looks to build bridges with China.
Nikitin 'from another world' Evidence in Sovcomflot trial should be considered against backdrop of a "very different" Russian environment and language barrier, QC says.
Groton gets rid of tanker US-based owner offloads 1994-built Sea Sapphire for reported $10.5m.
Box trio head to East Africa Evergreen, Wan Hai and Simatech cooperate on three-ship loop from Colombo.
Gandhi hikes Pipavav stake Shipbuilder's chairman splashes out $150m for shares in the company with repeat spend on the cards.
Pirates attack tanker trio Odfjell, NITC and Montanari vessels avoid hijacking by Somali pirates as attacks escalate.
WWL increases frequency Wallenius Wilhelmsen beefs up US to Middle East vehicle/heavy lift service due to increased demand.
Marco Polo sells more Singapore shipowner lightens balance sheet with a second eight vessel sale and leaseback deal.
Two missing as cargoship sinks Two crew rescued, but two lost at sea after collision between vessels off Japan.
Tanker grounds in Suez Canal Greek-owned vessel disrupts traffic after going aground in Crocodile Lake on Sunday.
CSDC profits slump 80% Lower dry bulk revenues take their toll at Hong Kong-listed arm of China Shipping Group.
Norway in yard aid promise More money is on the way to help struggling shipbuilders, says Trade and Industry minister.
Three hurt in ro-ro plunge Ave Line crew injured in Rotterdam after rescue boat falls eight metres.
China jails Rio Tinto four Terms of up to 14 years for miner's employees found guilty of bribery and stealing commercial secrets in iron ore tussle.
Bomb hoax delays Carnival ship Carnival Sensation searched by coast guards and police off Florida after threat from passenger.
24 injured in ferry crash Passengers hurt as Supercat 23 hits dock in the Philippines due to technical fault.
EU ends Baltic probe Antitrust investigation dropped after German tax advisor scraps Baltic Feeder Max scheme.
STX chief steps aside Duk Soo Kang out as chief executive of South Korean shipowner STX Pan Ocean but remains chairman.
Fisher buys GMC Produkt Expanding UK company spends '11.5m on Norwegian lifting products and services company.
Tsakos offloads Hesnes Greek owner said to have sold panamax tanker for demolition in Bangladesh, according to brokers.
J J Ugland dies Norwegian shipowner Johan Jørgen Ugland passed away on Sunday at the age of 88. He was active until the end as chairman of the board of the J.J. Ugland Group
Deltamarin wins South Korean consultancy contract The Finnish consulting and engineering company Deltamarin Ltd will design two 60,000 GT passenger and cruise ships to be operated under the South Korean flag between South Korea and Hong
Scandlines builds new ferries at German yard Scandlines A/G has signed an agreement with Volkswerft Stralsund in Mecklenborg-Vorpommeren to build two new ferries for the Gedser'Rostock service. The vessels, which have been in the
Danish shipowners support shore-based help in Somalia The Danish Shipowners' Association has decided to donate a substantial amount to Save the Children's development projects for children in northern Somalia. The donation of DKK 1.5 million is
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