Hong Kong plans to develop a regional cruise hub The Hong Kong government is committed to developing Hong Kong into a leading regional cruise hub, said a Hong Kong Tourism Board (HKTB) spokesman in a recent interview.
Doosan expects engine orders to double this year Doosan Engine Co, the world's second-largest maker of ship engines, said that orders may more than double this year as shipping lines resume fleet enlargement plans and the company works to expand its non-marine businesses.
Shipping Times
UK consultations start on plan for high-speed rail line UK Transport Secretary Philip Hammond opened a consultation yesterday on building a '32 billion (S$65.9 billion) high-speed rail line linking London with central and northern England.
Hong Kong plans to develop a regional cruise hub The Hong Kong government is committed to developing Hong Kong into a leading regional cruise hub, said a Hong Kong Tourism Board (HKTB) spokesman in a recent interview.
Doosan expects engine orders to double this year Doosan Engine Co, the world's second-largest maker of ship engines, said that orders may more than double this year as shipping lines resume fleet enlargement plans and the company works to expand its non-marine businesses.
Shipping Times
UK consultations start on plan for high-speed rail line UK Transport Secretary Philip Hammond opened a consultation yesterday on building a '32 billion (S$65.9 billion) high-speed rail line linking London with central and northern England.
New Cameroon carrier to take off next month A new Cameroon-based carrier called Camairco is set to succeed Cameroon Airlines, which had ceased operations in March 2008. Camairco is launching operations on 27 March. The airli...
Volkswagen: natural gas-powered HGV The German vehicle builder Volkswagen wants to develop an environment-friendly truck, which will comprise a natural gas-powered tractor and a state-of-the art trailer. The new...
Valx adds Toscon Trailer centres to network The Dutch service provider Toscon Trailer's service centres have been added to the Valx European service network. The addition of these nine workshops in the Netherlands represents...
BNSF announces USD 3.5 billion capital commitment programme The US-based rail service provider BNSF Railway (BNSF) has a planned USD 3.5 billion capital commitment programme for 2011. The largest component of the plan foresees spending USD ...
Rail Cargo Hungaria and Belarus railway reinforce collaboration Rail Cargo Hungaria (RCH) and the Belarusian railway Belaruskaja Tschyhunka (BTsch) have signed a new agreement for greater collaboration. RCH said that "the pact will help mo...
TEMP VERSION - TO BE EDITED - Coastlink short sea conference, Hamburg, 19-20 April 2011 The new JadeWeserPort is expected to alter the dynamics of the German port industry from 2012 onwards, and so Coastlink will ask whether any special provisions are being made to av...
FedEx completes acquisition of AFL and Unifreight The US-based service provider FedEx Express has completed the takeover of the logistics, distribution and express businesses of AFL and its affiliate, Unifreight India. The acquisi...
DSV posts good results for 2010 DSV A/S, a global transport and logistics service provider based in Br'ndby, near Copenhagen (Denmark), boosted its turnover from DKK 36.085 billion (EUR 4.84 billion) in 2009 to D...
Flynt Group renamed Barloworld Logistics Hong Kong-based Flynt International Forwarders and its group companies have been consolidated and rebranded as Barloworld Logistics. Barloworld Logistics acquired the Flynt Group o...
Ferries set to arrive in Norra Hamnen The Danish-Swedish venture Copenhagen Malm' Port AB (CMP) is now commencing its move to Norra Hamnen (Northern Harbour). The ferry traffic will be first to transfer, and in mid-May...
EU Commission to investigate aid for Czech Airlines The EU Commission has started an in-depth investigation to verify whether the measures that were taken to restructure the Czech flag carrier Czech Airlines are in line with EU resc...
The port of Paranagu' welcomes largest ship ever TCP, Paranagu' Container Terminal, owned by the Spanish group Grup TCB, was recently able to welcome the "Maipo", the largest ship ever to call at the terminal. The 6,500...
CMA CGM upgrades PEX 2 service The French container shipping company CMA CGM Group is upgrading its PEX 2 service currently linking Asia, Mexico and the Caribbean. As of April 2011, the introduction of a second ...
Deutsche Bahn investing some EUR 100 million in noise protection Noise caused by trains is a major concern at Deutsche Bahn. The German rail service provider therefore invested around EUR 100 million in new noise barriers on more th...
Göran Jansson new CFO and deputy president of SAS The Scandinavian carrier SAS has announced that Göran Jansson will assume the position of CFO and deputy president on . The current CFO, Mats L'nnqvist, will continue ...
First Korean Air A380 rolls out of paint shop, US air force paints Airbus blue The first A380 bearing Korean Air's distinctive livery has been rolled out of the Airbus paint shop in Hamburg. The aircraft is the first of ten A380s ordered by the South Korean c...
New ships to depress tanker time charter rates to eight-year low Poten says huge number of newbuildings hitting the water will more than offset rising oil demand
Indian ore tax rise likely to hit supramax cargoes Move by New Delhi could lead to rush buying by Chinese steel mills before April 1 deadline
Rising LPG demand lifts rates to 10-week high Rates for very large gas carriers have hit a 10-week high on increased demand from India
China crude imports to hit 350m tonnes China's crude imports forecast to reach 350m tonnes, equivalent to 6m barrels per day, by 2015 ' benefiting very large crude carriers serving long haul trades from the Middle East, West Africa & South America
Tanker tonne-mile growth to moderate if Libyan crude exports cut A 75% cut in Libyan crude exports over a prolonged period could see tankertonne-mile demand growth in 2011 cut from 5.3% to 4%
Bank of Ireland seeks buyer for $1.4bn shipping portfolio Irish institution is second European lender seeking to offload its shipping book
New attachment order served on Korea Line tanker Blue Jade litigation highlights urgency of Chapter 15 petition
Hapag-Lloyd posts record $1.25bn profits Joins Maersk and CMA CGM in reporting record results for 2010
US shippers shy away from index-linked contracts Cargo interests show little interest at this stage due as cheap spot rates prevail
OSG loss widens on spot market exposure Tanker owner ends 'disappointing year' with a $55m net loss in the fourth quarter
HSBC group profits double in 2010 Bank upbeat on 2011 outlook despite uncertainty in shipping markets
Maersk drives home clean shipping message The once-publicity shy Danish owner deliberately courted global coverage when it announced its order for 18,000 teu ships
Banking on change Shipping loans are perfectly capable of holding their own in the marketplace but to find a buyer, a couple of things need to happen
SNCF seeks go ahead to refinance SeaFrance Move comes after financial adviser Credit Agricole is unable to find a buyer
Pulling muscle It cannot be a coincidence that box lines that saw their balance sheets so substantially restructured were able to re-invest rapidly as volumes burgeoned
Most Libyan ports still shut Lloyd's List Intelligence sources report main ports still closed to commercial traffic
Norwegian Car Carriers posts $1.5m fourth-quarter profit as charter rates improve Cash from share placement to be used on tonnage acquisition as company increases fleet ownership
Somali pirates seize Greek bulker Pirates hijack the vessel, Dover, with 23 crew onboard
Deutsche Shipping posts record results for 2010 Ship finance division sees operating income surge 30%, while cautioning of a more challenging year ahead
Paragon says Korea Line now in arrears Dry bulk owner has not been paid since-mid February for Pearl Seas charter
SeaIntel warns of space shortages on transpacific trades Concerns there could soon be an oversupply of tonnage as ships are cascaded from the Asia-Europe trades are misplaced
Containership Co to launch second transpacific string Service will link south China with the US west coast
Hutchison targets $5.8bn from ports spin off listing Cornerstone investors include Singapore's Temasek with an investment of $100m
Offen employs armed guards on board tankers Owner calls for a rethink by western countries on their approach to piracy
Foreign rebuilding of Jones Act ships back in the spotlight US shipowners see red as coastguard seeks public comment on rule change
Ship towed out of danger A DUTCH general cargo ship is powerless today after a bridge fire and awaiting a tow off Massachusetts
Ferry lines profit from Libya flood THREE Greek ferry companies reportedly expect to profit among them at least €15M ($20.7M) after chartering seven vessels to get people out of chaotic Libya
Russia to curb scrap exports RUSSIA'S Customs Service is seeking approval to limit the number of ports from which scrap can be exported
NCC cuts losses in half CLIMBING freight volumes and gradually improving rates bode well for the vehicle carrier business, Norwegian Car Carriers said today in announcing it had cut its losses in half
Deutsche Shipping posts record profits TIGHT supply of debt capital and elevated net interest margins pushed Deutsche Bank's ship finance unit to record profits last year
Gazprom profits from Libya chaos GAZPROM is replacing the gas that cannot be transported to Italy on LNG carriers because of violent chaos in Libya, according to Russian and Italian sources
Icy stack-up builds ABOUT 15 ships are reportedly waiting for icebreaker aid in Finnish ports in the northern Gulf of Bothnia
Pirates seize bulker PIRATES hijacked a Greek bulker today in the North Arabian Sea, according to EU NAVFOR
Machete raiders rob tanker A GERMAN chemical/products tanker has been boarded by machete-wielding robbers off Malaysia, according to ReCAAP ISC
'Cutthroat pricing' warned FAIRSTAR Heavy Transport, the Dutch heavy-lift vessel operator, warned today its 1H11 results would be weak unless activity on the spot market starts to pick up
Samudera Shipping rebounds INDONESIAN carrier Samudera Shipping returned to the black with net profits of $9.4M for 2010, compared with losses of $8.8M in the previous year
Algoma takes over ULG ALGOMA Central is acquiring the ships and other assets of Upper Lakes Group, in a major Great Lakes shipping takeover
Malaysian Bulk optimistic despite blip MALAYSIA'S biggest drybulk carrier Malaysian Bulk Carriers has said it is cautiously optimistic about the Chinese import market, after announcing a year-on-year drop in 4Q2010 profits
Sinopec buys into APLNG CHINA'S Sinopec has taken a 15% stake in the Origin Energy/Conoco Phillips Queensland coal seam gas-to-LNG joint venture Australia Pacific LNG
Sydney penalties biting SYDNEY container terminal operators and road hauliers will have to compensate each other for poor performance under a scheme that went live today at Port Botany
PowerTrain Pays $2 Million to Settle Import Case Mississippi engine importer PowerTrain and its Wood Sales Company and Tool Mart operations will pay a $2 million civil penalty...
Maersk Starts Andes-East Coast Service Maersk Line launched a new weekly service this month linking ports on the U.S. East Coast with Peru and Ecuador. ...
Diesel Soars 14.3 Cents per Gallon on Oil Fears Retail diesel prices last week rocketed 14.3 cents to a national average of $3.716 per gallon, according to figures from...
YRC Worldwide Wins New Financing Extension YRC Worldwide said it reached an agreement with key stakeholders on a comprehensive restructuring plan, meeting a Feb. 28 deadline. ...
Panama Canal's Alem'n on Canal Expansion (Video) Panama Canal's Alberto Alem'n Talks About Impact of Canal Expansion during a sit-down interview with JOC's Peter Leach on location...
Trucking Group Says FMCSA 'Misused' Sleep Data The American Trucking Associations is raising the ante in its challenge to the science behind proposed new truck driver hours...
FMC Publishes Tariff Exemption The Federal Maritime Commission on Friday posted on its Web site a final version of its proposed rules to exempt...
Hapag-Lloyd Rebounds to $1.25 Billion Profit German ocean carrier Hapag-Lloyd, which came close to collapse during the container shipping slump, earned a record $1.25 billion in...
Universal Truckload Revenue Tops $600 Million in 2010 Universal Truckload Services increased its operating revenue 20.4 percent to $605.9 million last year, aided by trucking acquisitions and the...
Maersk Line Holds No. 1 Spot Among Ocean Carriers Maersk Line's recent order for 10 ships with capacities of 18,000 20-foot equivalent units apiece cements its position as the...
Charleston Moves Ro-Ro to Expanded Terminal The South Carolina State Ports Authority said it has moved Charleston's roll-on, roll-off cargo-handling to the Columbus Street Terminal, which...
Rail Deal Clears Grant for Washington State A new agreement signed by the Washington State Department of Transportation, BNSF Railway and Amtrak clears the way to spend...
Global Air Cargo Jumps 9.1 Percent in January Global air freight traffic increased 9.1 percent in January from a year ago, driven by a surge in North America,...
Damco Boosts Profit 89 Percent Damco, the logistics arm of A.P. Moller-Maersk Group, improved pre-tax earnings 89 percent to $85 million in 2010 before restructuring...
Generation Next As we move into the third month of 2011, we're already seeing signs that this will be a transformational year....
Truckload Rates in Higher Gear Shippers don't need a road map to know where truckload rates are going, but they may need an altimeter. Truck...
Alternate Route Set Around Surcharges In two decades as a shipper and a motor carrier, Craig Dickman grew increasingly dissatisfied with what he calls the...
Intermodal's Golden Spike Get ready for the Golden Age of intermodal shipments across North America's rail network. You won't have to wait long,...
Transloading on a Roll Transportation consultant Ron Sucik has been tracking the transloading of Asian imports from marine containers into domestic containers in Southern...
Vancouver Offers Port Trucks Model U.S. ports that want regulatory authority over trucking so they can reshape the harbor drayage industry can look to Port...
FMC Eases Tariff Filing The Federal Maritime Commission is taking steps to deregulate the commercial market for freight forwarders in ocean container shipping, but...
Rail Plan Hits Speed Bump When Florida Gov. Rick Scott yanked his support for what was to be the nation's first bullet train service, he...
Top Lines for Security, Infrastructure The Department of Homeland Security is calling out the dogs. Its budget request for fiscal 2012 includes $125.7 million to...
Winding the Clock The critical feature of the Federal Motor Carrier Safety Administration proposal on hours-of-service isn't necessarily the potential reduction from 11...
Capacity by the Hour There's a new yardstick for capacity among the many figures the shipping world uses to measure available space: hours. ...
Letters - February 28, 2011 Edition Demand Periodic Reviews of Fuel Surcharges I read with interest your Jan. 31 cover story, "Fuel Comes Back," and...
So what is normal? The dictionary tells us that it is: usual, regular, common, typical; but try applying that definition to the container industry over the last few years and you will struggle to find the basis for an average that can be confidently used as reflecting normality in liner shipping
CMA CGM expects 'normal profits' after 2010 feast
Container ships back at Lyttelton
Piracy: ITF threatens 'reckless shipping' with corporate manslaughter
Inland division will help drive APM T in 2011
AAPA lambasts proposed fund cuts in US port security programme
DB wing logs record win Ship finance unit of German banking giant sees operating income surge 30% as lending tops EUR 1.2bn.
TDW dodges bullet US offshore giant scores time extension in race to seal joint venture with Sonangol.
Cantor downs OSG Analyst downgrades shares of US-listed tanker titan as hopes of rate rebound prove "futile".
Seadrill pens two John Fredriksen-controlled rig owner inks newbuildings after sealing $420m deal with Chevron.
SCF appeal faces long wait Corruption trial appeal ruling may take many months as the judge is going travelling.
Eidesvik falls short Oslo-listed offshore owner slumps to loss as conversions and weak USD batter the bottom line.
Probo Koala - costly sequel If you thought the Trafigura toxic slops row was over the really costly stuff is just beginning.
Poor but positive Oslo-listed owner bemoans unsatisfactory shipping returns in 2010 but is heartened by fourth quarter improvement.
NOCC back in black Lars Solbakken-led Norwegian Car Carriers posts quarterly profit and remains upbeat despite full-year loss.
KLC chops two Crisis-hit South Korean owner axes newbuilding brace and plans to gun one more - but eight will survive.
Courage closes in Singapore-listed owner plots $40m IPO in Hong Kong as bulker buys hit the crosshairs.
Doosan's double delight South Korean ship engine maker's orders could increase by 100% in 2011 as newbuilding deals pick up.
KLC's 'major crisis' Ailing South Korean company lays out the gory details which led to its "massive losses".
Three failures hurt KLC Bankruptcies of Britannia Bulk, Armada and Transfield all played a role in the collapse of Korea Line Corp, Chapter 15 filing shows.
Report identifies 'marine highway' challenges While "marine highways" have potential as an alternative to road and rail transport, a recent Congressional Research Service report found obstacles to moving more freight by water. "Marine highways may be commercially viable in certain circumstance...
BNSF's Rose named to White House jobs panel U.S. President Barack Obama last week named Matt Rose, chairman and chief executive officer of Burlington Northern Santa Fe Corp., to his new Council on Jobs and Competitiveness. The group of 22 private sector representatives will provide policy a...
COSCO to assess Middle East cargo risk fee COSCO Container Lines said Friday it will begin assessing an "emergency risk surcharge" on shipments between the Far East and Middle East and westbound from the Indian Subcontinent. The fee, effective Tuesday, is $41 per TEU eastbound and westbound...
CMA CGM-CSAV-CSCL form Asia/Caribbean link CMA CGM, CSAV and China Shipping will start a service connecting Asia with the Caribbean and the northern coast of Brazil in April, according to a statement from Chilean line CSAV. The three lines already collaborate on a service on the same lane, ...
Maersk to split Asia/Europe butterfly Maersk Line said in a statement last week that, starting in April, it is splitting a butterfly service connecting Asia and Northern Europe. The line didn't give many specifics other than to say its AE10 service, which is part of a butterfly servic...
Hapag-Lloyd reports record '10 profit Hapag-Lloyd said it had a record year in 2010 in terms of profitability. In its fiscal yearthe German carrier said it had operating earnings before interest and taxes (EBIT) of 583 million euros ($807 million) compared to a 603 million-euro loss i...
ESC: Piracy avoidance will strain supply chains The European Shippers' Council said Friday it is gravely concerned about the impact of piracy in the Gulf of Aden and Indian Ocean, and said it sympathizes with ship owners, carriers and seafarers. "The attacks occurring so far out to sea appears ...
Bulk carrier hijacked in the Arabian Sea The Panama-flagged bulk carrier Dover has been hijacked some 260 nautical miles North East of Salalah, Oman, during a voyage from Saleef, Yemen, to Port Quasim, Pakistan, EU Navfor
Fujairah prices mixed In Durban, one supplier reported deliveries available for supply up to and including March 14.
Rotterdam bunker market steady Gibraltar suppliers 'compete aggressively' to attract more stems.
Bunker operations remain strong as Grindrod's profits fall South African transportation group says marine fuel business 'performed well in 2010'.
Maersk Line reports 2010 emission reductions Sustainability Progress Report shows a 4.6% reduction in CO2 emissions and 80-95% cut in the shipping line's sulphur emissions in Houston and Hong Kong.
Saudi Arabia's fuel oil exports expected to hold 'steady' Markets will remain tight despite increase in Western arbitrage volumes.
Maersk Tankers: Super slow steaming key to improving earnings Saving up to 50% on bunkers 'a no-brainer' which can make the difference between profit or loss in depressed tanker market.
Sri Lankan player says bunker business 'doing well' Energy demand has been boosted by the end of the country's civil war, says Lanka OIC.
Bunker prices largely down at key ports All key Asian ports able to make bunker deliveries from early March.
Cargill to install towing kite system on handysize vessel It will be the 'largest vessel' in the world to be propelled by a kite, says commodities firm.
Korea Line's bunkers targeted in $2 million claim Not unlike WFS, Greek shipowner pursues Korea Line's assets in the US to secure its claim for unpaid charter fees.
South China fuel oil imports fall on lower bunker demand February's fuel oil imports - all of which are for the bonded bunker market - fall 23% month-on-month.
Russian firm expands bunkering ops with new barges First of four new bunker tankers is scheduled for delivery in mid-June this year, company says.
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