Baltic Dry Index falls for 3rd straight session The Baltic Dry Index, a measure of commodity-freight costs, fell for a third consecutive session as bookings to ship iron ore from Australia and Brazil declined and stockpiles at Chinese ports reached an all-time high.
Containers stay at 50-year low as sales growth slows The container- shipping industry is contending with the longest stretch of near-zero rates in its half-century history on the Asia-to-Europe route, as a capacity glut combines with the slowest growth in trade since 2009.
APM to build and run US$992m Costa Rican terminal APM Terminals has won a US$992 million contract to run what it is calling the largest infrastructure project in Costa Rica's history - the new Moin Container Terminal on the Caribbean coast.
MOL earns commendation from Cambodian government Mitsui O.S.K. Lines, Ltd. (MOL) recently cooperated with the non-profit organisation Side By Side International (SBSI) to transport 34 medical vehicles and other equipment to help ...
Niedersachsen Ports steps up marketing activities Joachim Birk is the new head of marketing of Niedersachsen Ports GmbH & Co. KG, a Lower Saxony-based port operator. The MBA graduate will in the future oversee the cross-site m...
USD 200 million road loan to support growth in India's northeast The Asian Development Bank (ADB) is lending up to USD 200 million to reconstruct roads in northeastern India, which will reduce its isolation and open up badly needed growth and de...
Mechel leases mainline diesel locomotives Mechel, one of Russia's leading mining and metals companies, has signed a contract between Mecheltrans Vostok, Sinara-Transport Machines and VTB Leasing for the development, produc...
Switzerland: Camion Transport now using hybrids Swiss transport company Camion Transport (CT) has enhanced its fleet of vehicles with a Mercedes-Benz Atego BlueTec Hybrid. It is the first hybrid lorry in general cargo shipments ...
CN and CNBM Forest Products Trading strike lumber export deal The Canadian National Railway Company (CN) and China's CNBM Forest Products Trading have reached an agreement to use CN's new lumber transloading facility in Vancouver to increase ...
New weekly service AC-3 launched AC-3 - a new regular ocean container line of Maersk - launched a weekly service to the container terminal Vostochnaya Stevedoring Company LLC (a Global Ports group company). The fi...
Another customs first for Cargoitalia Italy's Cargoitalia has been approved by the Italian customs authorities to submit electronic T1 forms as of tomorrow, 1 September. The move will enable the airline to cut transit ...
China Southern Airlines joins Barig China Southern Airlines is the latest member of the Board of Airline Representatives in Germany (Barig), taking the number of members in the world's biggest national airline associ...
Dallas welcomes new Air China Cargo service Dallas/Fort Worth international airport (DFW) last week welcomed the first of what will be three Air China Cargo freighter flights a week, giving DFW additional cargo capacity to S...
CMA CGM carries more than 4.8 m teu in first six months CMA CGM, the world's third-largest container shipping company, has reported revenue of USD 7.3 billion for the first six months of 2011, an increase of 8% on the prior-year period....
Trans-o-Flex boosts capacities in Germany and the Netherlands The express delivery service Trans-o-Flex is expanding. A new central hub in s'Hertogenbosch and new sites in Bavaria and Brandenburg optimise the service provider's national and i...
Quehenberger: retail logistics for Libro and Pagro Austria's services provider Quehenberger Logistics is assuming responsibility for logistics services to 360 Libro and Pagro branches in Austria with immediate effect. In doing so, ...
Panalpina introduces new intra-Asia service Basel-based Panalpina explained that there have traditionally been only two main choices for cargo flows between China and Southeast Asia: costly air freight or slower ocean freigh...
Can Cosco follow China Shipping to long-term contracts? Giant Chinese bulk operator's recent charter renegotiation antics will not help build credibility
Boxship businesses share risky outlook Ordering the large ships at market peak brings added pressure to secure cargo
Key to Sinotrans' success lies in stable charter income Shipowner stands out among Chinese state-affiliated shipping companies for its strong financial position and robust balance sheet
Bank lending under threat as sovereign debt fears are reignited Banks are becoming more cautious as cost of insuring debt soars
Owners cold-shoulder hot lay-ups Underlying optimism that demand will catch up with supply is keeping ships on the water
Time to put a stop to creeping localism The spawn of localism is protectionism, the child of which is a direct attack on world trade
Shipowners should look to technology before using armed guards Shipowners should consider anti-piracy technology before resorting to armed guards onboard
On the tourist trail in Rotterdam's sandpit Maasvlakte 2, the port expansion project that will provide 1,000 ha of new 'land' taken from the North Sea, is capturing ordinary Dutch people's attention
Rodopoulos bows out after 36 years at RBS Fellow veteran Fotis Bratimos takes over responsibilities at Piraeus operation of Greek shipping's leading lender
VLCC earnings slump to historic lows on Middle East to US trade Owners continue to ply the route hoping to find a trip back to Asia to boost overall returns
Two more Greek ferry lines see red National crisis, fuel hikes and intense competition all blamed for first-half woes
Oil and shipping players move to restore Libya trade quickly Nato warns of 'sporadic untargeted firings out to sea' but says they are celebrations
Capesize rates jump 18% as spot chartering activity surges Busy transatlantic trade lane gains nearly $4,500 per day, up almost 30%
MSC bargain panamax boxship charter price shocks market Rate of $12,000 per day for a 5,000 teu vessel is down 30% on last reported fixtures
Eurogate throughput jumps 13% in first half Sluggish Hamburg throughput expected to improve in second half
APM Terminals sells 25% stake in Xiamen Songyu box facility Deal with joint venture partner Xiamen Port Holding Group halves APM's interest in $380m Chinese port development
Stena scales down fast craft service Line trims Holyhead-Dun Laoghaire operation due to high fuel and maintenance costs
Höegh and Awilco maintain faith in LNG despite second quarter losses Demand and rates to stay high, say Norwegian companies
Boxship orders surge in 2011 But 2007 record unlikely to be broken
Never mind the flag state At least for vulnerable vessel types, armed guards are the new normal
Belships takes shelter from worst of the market storm Keeping vessels on long-term charters pays off
Latest figures confirm sharp slowdown in trade growth OECD statistics reflect the developed nations' big budget deficits and emerging economies' inflation battles
Turning away from the market A key legacy of the financial crisis in shipping is that commercial banks wait in the wings while government funding is on the rise
India opens way to deploying armed anti-piracy guards New guidelines permit shipowners to engage private maritime security companies after a selection and vetting procedure
Norwegian Car Carriers sees charter rates rise 11% Tonnage provider expects year-long wait for stronger market despite improvements
Container lines prepare to resume Libya calls Maersk to reinstate service from September 8 while CMA CGM ready to return to Tripoli
Cosco starts to pay up Apparent turning point in wide-ranging charter hire spat comes just ahead of fresh wave of arrests, say industry sources
Eitzen to exit semi-refrigerated gas carrier market Disposal of ships to investment company B-Gas will raise $53m
NYK to issue $716m in bonds Company cites favourable conditions in the bond market for its decision
US verdict a major setback for foreign seafarers Court imposes Bahamas arbitration on personal injury case
Wheatstone LNG moves closer in Oz DREDGING conditions have been imposed on Western Australia's Wheatstone LNG project as part of its environmental approval, IHS World Markets Energy reported today
Intereuropa investment ruins port's profits SLOVENIA'S only port operator, Luka Koper, said today it had net profits for 1H 2011 of €3.4M ($5M), a 36% drop against the same period of last year
Weak dollar hurts Bourbon FRENCH offshore vessel operator Bourbon today reported first-half net losses of €21.4M ($30.9M) after it was hit by a fall in the value of the dollar
Bank deal seen as Greek ship finance boon THE JOINING of two Greek ship finance banks announced this week will create Greek ship finance's fourth-largest lender, a leading sector analyst told Fairplay today
Shipyard group's losses widen HONG KONG-listed China Ocean Shipbuilding Industry Group, the owner of Jiangxi Jiangzhou Union Shipbuilding, today announced heavier first-half losses as it reported several disputes with foreign customers
Bumi Armada profits drop 18% MALAYSIA's FPSO specialist Bumi Armada said today net profits for 2Q2011 dropped 18% year on year to 61M ringgit ($20.4M), while 1H2011 profits rose 2% y/y to 143.1M ringgit
Logic breaks down in India's scrapping market VOLATILITY in the breaking market has turned to confusion after speculation by Indian yards pushed up offers, despite a drop in local prices for steel plate
COSCO International's profits drop 20% COSCO International Holdings today said its H1 net profits were HK$277M ($36M), down 20% from HK$346M ($45M) in that period of 2010
Drybulk port snarls ease AFTER rising for the past two weeks, congestion in drybulk ports in China, India and Australia is easing off
Handies dominate box sector's chartering STRONG intra-Asia box business ensured that Handysizes are dominating chartering activity
Maybulk profits fall 10% MALAYSIAN Bulk Carriers said today net profits for 1H2011 dropped 10% year on year to 74.5M ringgit ($25M)
Supramax bubble bursts SUPRAMAX bulker rates have risen for two weeks, but brokers told Fairplay today that the sector's bubble has burst
DryShips reveals earnings miss GEORGE Economou's DryShips today reported huge quarterly losses on vessel sales and fell far short of Wall Street forecasts
'Fueling' trade U.S. seeks partnership for drop-in biofuelsThe U.S. Agriculture, Energy and Navy departments on Tuesday issued arequest for informationlaying out the Obama administration's goals, assumptions and tools, and requesting from industry specific ideas ...
Irene's aftermath Freight rail feels Irene more than ports Ports and railroads in the direct path of Hurricane Irene last week appear to have dodged major problems, according to damage assessments. ALAN helps with Hurricane Irene relief In the aftermath of Hurricane...
September Cover Story
TSA unveils transpacific rate index June transpacific rates reached a 14-month nadir, according to a new monthly revenue index being published by the Transpacific Stabilization Agreement. The index tracks average revenue per FEU levels against a June 2008 baseline. In June, the inde...
2011 large ship orders dwarf 2008-2010 Fifty-two containerships of 10,000 TEUs or larger have been ordered since the beginning of 2011, dwarfing the number of such orders over the last three years, according to research from Braemar's Seascope division. Only 10 such vessels were ordered...
MCC revises intra-Asia loops MCC Transport, the intra-Asia specialist carrier of the A.P. Moller - Maersk Group, has made changes to a number of its services connecting various regions within Asia. The line's IA4 service will drop a call in Shanghai and add a second, southboun...
Delmas splits Med/Africa butterfly CMA CGM and subsidiary line Delmas have split a butterfly service connecting the Mediterranean and West Africa into two loops, according to American Shipper affiliate ComPair Data. The five-ship service, known as Diams, has been split into two thre...
CSAV adds ports to Gulf Bridge Express Chilean containership operator CSAV said it is adding ports to the Gulf Bridge Express service that it operates with CMA CGM between ports in South America, the Caribbean, Mexico and the United States. The service will add calls at Puerto Cabello ...
Jensen Maritime expands in U.S. South Jensen Maritime Consultants, a naval architecture and marine engineering firm, has expanded operations in the U.S. South by opening a second office within parent company Crowley Maritime Corp.'s Jacksonville, Fla., headquarters. This new office wi...
Fla. cargo carrier hit for safety violations The U.S. Federal Aviation Administration said Monday it plans to fine Capital Cargo International Airlines $298,500 for operating eight Boeing 727 aircraft that were inspected by an unqualified mechanic who signed off on their airworthiness, in vi...
Crude falls on news of increasing supply 'We are following the stock market, and we're supportive on gasoline because of the idea that the storms may shut down some of the refineries,' says research analyst.
Fujairah prices firm Supplies said to be tight for prompt dates.
Double-digit gain in bunker prices Wide spreads in Rotterdam spot prices.
Aegean chief sees company gain momentum President upbeat after company's Q2 result beat analysts' expectations and class action lawsuits were withdrawn.
Russian oil company to expand international bunker operations Gazprom Neft to supply in Romania and Baltic states.
Solar sails could be fitted to bulk carrier Fuel savings would cover costs 'in two years'.
September fuel oil arbitrage at 32-month low But October volumes up in 'famine-to-feast' scenario.
High-speed ferry service cut as fuel costs bite 'High costs, particularly in terms of fuel costs and gas turbine maintenance, has been a major factor,'says Stena official.
Mid-week price levels up at Asian ports Supplies of bunker fuel sufficient at key Asian ports on Wednesday.
US military issues RFI on drop-in biofuels Focuses on 'technical, manufacturing and market barriers' for starting a business on drop-in biofuels.
'Largest' ice-breaking vessel completes model testing Iron ore carrier able to travel two times faster with 5% increased fuel efficiency.
Yang Ming ends first half with losses Blames losses largely on surging bunker fuel costs.
Singapore supplier receives 2,000 dwt newbuild bunker tanker 2,000 dwt Sentek 22 currently awaiting harbour craft license to operate at republic.
Fuel monitoring tool launched Allows for monitoring an entire fleet's fuel usage through the internet.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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