Tanker earnings spike on Libya turmoil Crude oil tanker earnings on the key Mediterranean route jumped to their highest in nearly three months as violence in Libya raised premiums on shipments.
Container shipping costs set to rise as early as April The cost to ship goods on container ships could begin to spike as early as April due to an expected shortage of boxes and limited inland transportation capacity, a senior industry executive said yesterday.
Baltic index inches up as Australia weather disruptions weigh on activity The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched higher but activity remained weak due to weather related disruptions in Australia.
Pirates seize yacht with Danish family on board
Strait Talk
Who wins from bigger ships? FOR the benefit of anybody who has spent the last couple of weeks wandering the Himalayas with no contact to the outside world, AP Moller - Maersk's main container shipping company, Maersk Line, has ordered 10 giant, 18,000-TEU (twenty foot equivalent units) containerships.
Motoring
US February car sales may approach 18-month high US car sales in February may approach the fastest pace since the government's 'cash for clunkers' programme as rising consumer confidence spurs purchases.
Tanker earnings spike on Libya turmoil Crude oil tanker earnings on the key Mediterranean route jumped to their highest in nearly three months as violence in Libya raised premiums on shipments.
Container shipping costs set to rise as early as April The cost to ship goods on container ships could begin to spike as early as April due to an expected shortage of boxes and limited inland transportation capacity, a senior industry executive said yesterday.
Baltic index inches up as Australia weather disruptions weigh on activity The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched higher but activity remained weak due to weather related disruptions in Australia.
Pirates seize yacht with Danish family on board
Strait Talk
Who wins from bigger ships? FOR the benefit of anybody who has spent the last couple of weeks wandering the Himalayas with no contact to the outside world, AP Moller - Maersk's main container shipping company, Maersk Line, has ordered 10 giant, 18,000-TEU (twenty foot equivalent units) containerships.
Motoring
US February car sales may approach 18-month high US car sales in February may approach the fastest pace since the government's 'cash for clunkers' programme as rising consumer confidence spurs purchases.
Tanker earnings spike on Libya turmoil Crude oil tanker earnings on the key Mediterranean route jumped to their highest in nearly three months as violence in Libya raised premiums on shipments.
Container shipping costs set to rise as early as April The cost to ship goods on container ships could begin to spike as early as April due to an expected shortage of boxes and limited inland transportation capacity, a senior industry executive said yesterday.
Baltic index inches up as Australia weather disruptions weigh on activity The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, inched higher but activity remained weak due to weather related disruptions in Australia.
Pirates seize yacht with Danish family on board
Strait Talk
Who wins from bigger ships? FOR the benefit of anybody who has spent the last couple of weeks wandering the Himalayas with no contact to the outside world, AP Moller - Maersk's main container shipping company, Maersk Line, has ordered 10 giant, 18,000-TEU (twenty foot equivalent units) containerships.
Motoring
US February car sales may approach 18-month high US car sales in February may approach the fastest pace since the government's 'cash for clunkers' programme as rising consumer confidence spurs purchases.
China Cargo Airlines resumes Shanghai-Nagoya services Shanghai-based China Cargo Airlines, a subsidiary of China Eastern Airlines, resumed its six weekly cargo services between its hub and Nagoya today. China Cargo Airlines originally...
US Airways reports strong 2010 cargo revenues US Airways, an Arizona-based carrier, has reported that its cargo revenues came to USD 149 million in 2010, an increase of USD 49 million (or 48%) over 2009. The figure was even hi...
Kenya Airways to acquire first full-freighter Flag carrier Kenya Airways has announced that it is boosting cargo capacity and further developing its cargo division. The airline is set to acquire a full-freighter for the first ...
CMA CGM reports excellent 2010 performance CMA CGM, the world's third-largest container shipping group, reported revenues of USD 14.3 billion in 2010, a 36% increase on 2009. The improvement was led by the combined impact o...
VTG expects positive developments The Hamburg-based German wagon hire and rail logistics company VTG improved its sales figure by 8% to EUR 629 million in 2010. Its ebitda grew by 3% to EUR 154 million. Its wagon l...
SNCF returns to profit zone The French national railway SNCF has reported good business in 2010. The group has returned to the profit zone, making EUR 697 million, but only thanks to EUR 466 million worth of ...
Tirsan delivers 200 trailers to Barsan Global Logistics The Turkish trailer manufacturer Tirsan has delivered 200 high-volume trailers with German MOT certificates to Barsan Global Logistics, a first for Turkey. The units include 170 cu...
Swiss commercial vehicle body expects truck-driver shortfall The Swiss commercial vehicle association Astag expects the truck-driver shortfall over the next ten years to be as high as 25,000, as demand from trade and industry rises, the auth...
Piracy not a local issue, but a global concern, says ESC The European Shippers' Council (ESC) considers the rising number of piracy incidents, especially in the Indian Ocean, to be of grave concern. The attacks appear almost unprecedente...
Fiata headquarter sessions, Zurich, 18-20 March The International Federation of Freight Forwarders Associations (Fiata) will be holding its headquarter sessions 2011 at the Swissotel in Zurich Oerlikon (Switzerland) from 18 to 2...
Swisslog wins major order from Dentressangle in Belgium The international intra-logistics service provider Swisslog, which is headquartered in Switzerland, has won a major order worth EUR 21 million in Belgium. The French transport and ...
Ekol Logistics opens new facility in Bursa The Turkish service provider Ekol Logistics has opened a new centre in Bursa, in western Turkey. The facility will have a 3,000 sqm warehouse, 450 sqm of office space, uncovered lo...
Geodis turns its back on losses and makes a profit The French transport and logistics corporation Geodis, based in Clichy near Paris, improved its sales figure by a massive 31% in 2010, raising it from EUR 5 to 6.6 billion. Cost cu...
Anthony Kish new director of St Lawrence development council The St Lawrence economic development council has appointed Anthony Kish as director for projects and governmental affairs. Kish, who joined the council as research coordinator in 2...
Cargill and SkySails to rig up largest kite-powered vessel Cargill, an international food, agricultural, financial and industrial services corporation, has signed an agreement with SkySails to use wind power technology, in order to help re...
Montreal Port Authority (MPA) and Canadian Pacific sign collaborative agreement The Montreal Port Authority (MPA) and the North American railfrieght service provider Canadian Pacific have signed a collaborative agreement on performance and productivity that fo...
Europe rates at nine-month high as Libya crisis hits bunker prices Bad weather in northern hemisphere adds to charterers' woes
Panamax owners await rise in South American exports Rates remain lacklustre but owners anticipate seasonal second-quarter hike for grain to Asia
China snaps up vessels as Indian yards fill to capacity
Pacific Basin forecasts a year of handysize difficulties Pacific Basin has forecast a difficult year for the global handysize bulk carrier fleet, after its handysize business division posted a 17% rise in profit, to $145m
Moody's warns of dry spot market exposure Three key factors will determine the credit rating quality of dry bulk shipping companies this year, according to ratings agency, Moody's Investor Service
Aframax rates rocket as Libyan unrest continues Bullish brokers expect to see rates spike 1,600% for Libyan crude export cargoes
Sale rumours hit West LB shipping book Could join Lloyds Banking Group and the Bank of Ireland as potential sale candidates
Streamlining Brussels' research funding labyrinth Finding your way to the EU's multibillion-euro pot of research gold is about to get easier, so pay attention
Will Greek owners risk moral hazard in China? Chinese banks are said to be lending $10bn to the Greeks ' but there is no sign yet of the fund
How to find favour on Wall Street Lloyd's List reveals the top tips from shipping analysts on impressing investors and securing success when going public
Investor enthusiasm for shipping will rekindle in time Widespread confidence that there will be a number of fresh shipping listings in the US this year
Underwriters stuck between a rock and a hard place Hull insurers say they have not made an underwriting profit in the past 14 years
UK supreme court clarifies cargo role in inherent vice Ruling finds that where the wind and sea are instrumental in causing loss it will be almost impossible for insurers to deny liability
Shipowners urge London to cut light dues Industry lobby groups call on UK government to reduce tax by '0.06 per net registered tonne
Rotterdam employees return to work at Sohar port Port authority confirms operations at the port appear to be unaffected as protests subside
Kuehne + Nagel delays Tunisia deal Logistics giant positive over Middle East outlook despite ongoing crisis
Genmar and Almi dismiss suezmax deal tattle Owners differ over whether Genmar offered stock for five suezmaxes
Shiprecycling convention may unearth legal minefield Shipowners fear loss of vessel employment and revenue
Looming box shortage could lead to freight rate hikes APL president Eng Aik Meng warns of severe shortage and more pronounced seasonality
Excel remains optimistic in dry bulk outlook Owner 'well-positioned' to ride overcapacity storm, while Pacific Basin hopes woes will ebb when new fleet hits the water
Save our seafarers Lloyd's List urges everyone to back the Save our Seafarers anti-piracy campaign
Pacific Basin disappoints as group profit falls to $104m Group cites weak charter demand and Europe's slow export-led recovery for its poor performance
A confident approach to smooth succession Having worked alongside her father George for many years, Sabrina Chao is now in the driving seat at Wah Kwong
Kuehne + Nagel gears up to buy RH Freight Move will boosts logistics giant UK operations
Moody's predicts decade of volatility CREDIT rating agency Moody's warned today that the drybulk sector's lack of discipline portends rate volatility through 2020
UK's A&P Group sold BRITISH ship repair, conversion and fabrication company A&P Group has been sold to a new consortium, the company announced today
KL granted US shield A NEW York judge has issued a temporary restraining order to protect Korea Line from escalating attempts to attach its vessels in US ports
Slovenian port gains SLOVENIA'S only port operator Luka Koper increased throughput last year by 17% from 2009 figures and box traffic by 40%
Excel seeks charter cover DRYBULK major Excel Maritime has met profit expectations as it continues to seek more timecharter employment
'Fuss' factor seen in piracy PIRATES are "well-informed businessmen" who are likely to target even more box ships, a UK conference heard today
BV doubles order intake CLASSIFICATION society Bureau Veritas announced today that the volume of its intake of newbuilding orders doubled year on year in 2010
Libyan port reopened LIBYA'S Marsa el Brega oil port has been reopened, IHS Global Markets Energy reported today, but the sector faces huge challenges however its political turmoil concludes
BDI rose 20% last month THE BDI rose by 20% in February, with brokers expecting increased ship demand from Australia to push the index even higher as March unfolds
Pacific Basin profits fall A WEAK drybulk market saw Hong Kong carrier Pacific Basin's profits drop 5.45% year on year to $104.3M in 2010
Latvian losses deepen LATVIAN Shipping, the listed Riga product tanker company, has reported 2010 losses bigger than its revenues on impairments, which together accounted for almost half of its revenues last year
NYK chases markets in West Africa JAPAN'S NYK Line told Fairplay today it is tapping emerging West Africa with a new container service connecting China and Singapore to the region
Golar seeking to expand GOLAR LNG, the gas carrier group in John Fredriksen's business empire, said today it is seeking expansion even though its final quarter and full-year results weakened from a year earlier
Jiangsu Eastern builds profits CHINESE shipbuilder Jiangsu Eastern announced today that it made net profits of 67.5M yuan ($10.3M) in 2010, reversing losses of 104.3M yuan in 2009
Vale looks to fill China iron ore gap BRAZILIAN mining giant Vale is eyeing increased iron ore exports to China now that India is cutting its exports of the commodity
Dentressangle Earnings Rise 32 Percent French trucking, logistics and forwarding company Norbert Dentressangle reported higher profit and revenue for 2010 and said it expects its...
Truckload Index Shows Tightening Capacity Truckload capacity slackened slightly in the last two weeks of February but remains significantly tighter than in recent months, according...
West Coast Container Volume Surges 13 Percent U.S. West Coast ports started 2011 off with a bang, with total container volume in January up 13 percent over...
Energy Department Yields on U.S.-Flag Preference A standoff ended Tuesday between the departments of Transportation and Energy over the use of U.S.-flag vessels to transport goods...
Capacity-Cargo Ratio to Narrow in 2011 Container ship lines are poised to break a years-long pattern of vessel capacity expanding faster than cargo volume but only...
STB's Nottingham Resigns as of March 18 The Surface Transportation Board's current sole Republican member, Vice Chairman Charles D. Nottingham, said he will resign effective March 18...
CMA CGM Beefs Up Trans-Pacific VSAs CMA CGM thinks the supply of vessel capacity on the trans-Pacific this year needs to be expanded to meet growing...
APM to Build, Run $1 Billion Costa Rica Terminal APM Terminals March 1 announced a $1 billion investment in a container port in Costa Rica. The company, a...
NAFTA Trade Rose 13.8 Percent in December Trade using surface transportation between the U.S. and Canada and Mexico posted a year-to-year gain of 13.8 percent to $66.5...
Factory Orders Outpace Inventories, ISM Reports U.S. manufacturing expanded in February at the fastest pace since 2004, and new orders outpaced inventories, suggesting freight shipments may...
Amazon Adding Fifth German Logistics Center Amazon.com will build a 1 million-square-foot logistics center in Rheinberg, Germany, in the western part of the country, scaling up...
DOJ Confirms Parcel Antitrust Probe The Justice Department is investigating possible anticompetitive behavior in the time-sensitive parcel market, a department spokeswoman confirmed today. Although...
Maersk to Enhance Trans-Pacific Services, Add Ports Maersk Line plans to enhance its trans-Pacific service network at the end of May by expanding port coverage to the...
Econocaribe Joins INTTRA Econocaribe Consolidators, a Miami-based non-vessel-owning common carrier, is joining INTTRA, the e-commerce platform established by 30 shipping lines for cargo...
Kuehne + Nagel Boosts 2010 Profit 28.7 Percent Kuehne+Nagel reported 2010 net profit grew 28.7 percent from the previous year on sharply higher ocean and air freight volumes...
Trucking Rates Do Not Reflect Total Costs, GAO Says Trucking passes on to customers substantially less of the total cost of transportation than competing modes, and that distorts competition,...
US Steel Imports Jump 9.4 percent Month-to-Month U.S. steel imports increased month-to-month 9.4 percent in January from December, according to preliminary government data. "Imports from the...
NYK Logistics Names New COO NYK Logistics (Americas) announced Monday that Michael Noone is joining the company as chief operations officer on March 1. ...
Fuel Costs Squeeze Ocean Carrier Margins Ocean container carriers are losing money on key trade lanes, including the Asia-Europe route, as margins come under increasing pressure...
Bowles joins Norfolk Southern board Former Clinton administration official Erskine Bowles has been elected to the board of Norfolk Southern Corp. Bowles was President Bill Clinton's chief of staff from 1996 to 1998, and deputy chief of staff for two years prior. He ran for the Senate...
Trans Global names Hung director Hong Kong-based Trans Global Logistics has named Raphael Hung managing director of air freight and regional director of South Asia. Hung was managing director at Sunlink Logistics. From 1998 through 2008, he worked in various air freight roles with...
NYK to call Cotonou on Asia/Africa service NYK Line said Tuesday it will start regular calls at Cotonou, Benin, on its South Africa and West Africa Express (SWAX) service from March 9. The new SWAX rotation will be Shanghai, Ningbo, Shekou, Singapore, Durban, Lome, Tema, Lagos, Cotonou, Dur...
TCC to add second transpacific string in April The Containership Co. will start a new service connecting South China and the U.S. West Coast beginning in April, the carrier''s Chief Operating Officer Franck Kayser confirmed to American Shipper Tuesday. The new service was reported Monday by the...
MSC to use 8,000-TEU ships on transatlantic Mediterranean Shipping Co.'s infusion of massive containerships has the liner carrier cascading 8,000-TEU vessels into the transatlantic trade, according to a report Monday by maritime news serviceAlphaliner.The report said MSC will in April rotat...
MarAd chief asks insurers to aid piracy fight U.S. Maritime Administrator David T. Matsuda called on the insurance industry Monday to offer a standard insurance rate reduction to shipping companies that use "best management practices" aimed at making their ships less vulnerable to attacks by ...
Cargill to install parasail on bulk vessel Cargill, one of the largest providers of bulk agricultural commodities and services, said Monday that one of its oceangoing vessels will be the largest of its kind outfitted with a kite for wind propulsion. The giant agri-marketer has signed an agr...
Kuehne + Nagel acquires U.K. trucker, forwarder Kuehne + Nagel Group reported improved profit and sales for 2010 and announced an acquisition Tuesday. The Swiss company said it has entered into an agreement to acquire the shares of the U.K. trucking and logistics firm Rennies Investment Ltd. (R...
APL vessels 95% on time in transpacific Liner carrier APL said it achieved a 95 percent on-time rate for the five transpacific service in which it exclusively operates vessels. The Singapore-based line said its ships missed their arrival window 12 times out of 237 ports calls to the U.S...
Pirates "stronger, more violent, richer every day"
First deep water permit after Deepwater Horizon The first permit for oil exploration since the Deepwater Horizon disaster last spring has been awarded to Noble Energy. The Obama administration introduced a moratorium on deep water-drilling last
Japanese vessel released The Panama-flagged cargo vessel Izumi has been released after being held by pirates for several months, EU Navfor reports. The vessel was hijacked in the Somali basin on October
No change of name for Bornholm HSC The new HSC ferry for Bornholmer F'rgen A/S will not have its name changed. A public vote on Bornholm ended with a majority for the planned name Leonora Christina
Seven Danes captured by Somali pirates Seven Danish citizens have been taken hostage by pirates in the Indian Ocean, close to the African continent. A family of five (two adults with three children) on a round
Fujairah prices fall In Durban deliveries available for supply up to and including March 15.
KPI appoints key account manager in London office Rasmussen has more than 20 years experience in the shipping industry.
Rotterdam and Hamburg markets soften Loading congestion is being reported in Rotterdam.
Monaco office hopes to 'recruit more traders' Dan-Bunkering says Monaco operation is 'fulfilling all expectations'.
Danish industry partnership to evaluate ECA solutions Objective is to assess practical and financial aspects of 'the three most realistic alternatives'.
Hambantota prices will be 'competitive' Rates will be low enough to attract new business, says SLPA.
MOL looks for fuel savings from new hull coating New formula anti-fouling paint 'to cut bunker consumption by 6%'.
IFO prices down at major ports General low demand for bunkers at key Asian ports on Tuesday.
Asian bunker fuel deficit to remain 'extremely large' in 2011 Demand for bunker fuel to rise by another 5% this year amid falling regional supplies of HSFO, says ESAI.
Box shipping demand-supply 'more balanced' than thought Delays in ship deliveries, slow steaming and shortage of equipment keeping tonnage overcapacity in check.
Vietnamese supplier targets increase in bunker sales volumes Adopts use of material safety data sheet and SS600 bunker receipt for deliveries to improve operating standards.
Colombo's bunker storage capacity 'to triple' SLPA to up bunker storage capacity in Colombo to 95,000 mt.
NYK places order for fuel saving LNG carrier LNG carrier to use Ultra Steam Turbine plant for higher fuel efficiency.
Korea Line gets temporary US court protection Order restrains creditors such as WFS and Cosmoship from pursuing Korea Line's assets in the US.
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