Escalation of violence feared in piracy war THE response to Somali piracy had so far seen a relatively codified game of cat-and-mouse play out on the Indian Ocean but experts fear a dangerous escalation is underway.
STX Group mulls Hong Kong listing for Dalian yard STX Group may sell shares in its Chinese shipyard in Hong Kong, making the unit the first South Korean-controlled company to trade in the city.
TUI seeks to divest stake in Hapag-Lloyd to focus on tourism GERMANY'S TUI AG, the owner of Europe's largest travel firm TUI Travel, is seeking to exit its stake in container shipping group Hapag-Lloyd to focus on tourism activities.
Ethiopian to serve Chennai and Beijing Effective tomorrow (30 April), Ethiopian Airlines will extend its daily Addis Ababa ' Mumbai service to Chennai, its third destination in India (after New Delhi). Next month, the a...
Dongfeng Motor Co and Schmitz Cargobull sign LOI Dongfeng Motor Company Ltd, China's largest automobile joint venture, has officially signed a letter of intent (LOI) about a semitrailer cooperation project with the Germ...
Palestinian Authority to plan new airport in Jerusalem According to local media, the Palestinian Authority is planning to open an international airport near Jerusalem by 2014. The USD 340 million project, which the authority is asking ...
New contract for BLS Cargo The private Swiss freight railway BLS Cargo has landed a contract to transport waste paper from Kehl, near Offenburg (Germany) to Perlen, where the Swiss paper mill Perlen Papier A...
USA: Perella Weinberg Partners' affiliate to acquire AIG Rail Services Perella Weinberg Partners and American International Group Inc (AIG) announced that an affiliate of Perella Weinberg Partners' Asset Based Value strategy has entered into a definit...
Alaska Railroad offers Port MacKenzie extension works on the first section Alaska Railroad tenders Port MacKenzie extension works, following the publication of the final environmental impact statement. The 32 mile (about 51 km) rail extension will link th...
Germany: more trucks on toll roads Germany's Federal Office for Freight Transport reported that trucks of over 12 t drove a total of 6.6 billion km on the country's toll roads in the first quarter of 2011. This equa...
American Airlines applies for additional Brazil frequencies American Airlines has filed an application with the US Department of Transportation for the right to fly ten additional US ' Brazil weekly frequencies from its Miami (FL)...
Essar Ports looks for a third-party cargo Essar Ports, the captive port facility of the India-based Ruias Group, is looking at tapping merchant (third-party) cargo to ramp up its volume. Essar Ports, which is being spun of...
DP World tackles problems at ICTT At a recent meeting the Cochin Port Trust has assured the exporter community that their problems - increasing shipping costs and delays in cargo handling - consequent to opening of...
Diehl: Thorsten Munk new head of logistics and purchasing The forwarding company Diehl recently entrusted the management its logistics and purchasing business fields to Thorsten Munk. He previously served as general manager at Star Distri...
Port of Rotterdam: total throughput stable ' containers bullish The port of Rotterdam reported that its Q1/2011 throughput amounted to 107 million t, which is about the same as that of the same quarter in 2010. In comparison with last year's st...
New name for commercial vehicle manufacturer MAN The international growth strategy of the commercial vehicle manufacturer MAN should be refleceted in the company's name. This is the reason why MAN is altering its name. The vehicl...
Aramex with higher revenue and profit in Q1/2011 The Middle East-based logistics and CEP service provider Aramex revealed that the company revenue grew by 12% during Q1/2011, despite "unrest in a number of its core markets in the...
Ceva Logistics signs four-year agreement with Coswell in Italy Ceva Logistics, a leading global supply chain management company, has signed a four-year agreement with Coswell, a company specialized in the production and sale of consumer packag...
SITC International posts $23.4m profit as higher costs squeeze margins Intra-Asia operator orders two 1,100 teu boxships with options for six more
Horizon Lines averts bankruptcy as government reduces price-fixing fine The $45m criminal fine imposed on the company to be reduced to $15m
Hyundai Heavy Industries' profit jumps 21% in first quarter Strong performance in shipbuilding, rebound in China's construction market boost earnings
Brad Berman joins Holland & Knight Liberian International Ship & Corporate Registry executive director moves to maritime law firm
Cosco posts loss of $77.3m as dry bulk business drags performance Declining volumes and low freight rates trip up world's leading dry bulk fleet operator
Top takes back tanker NASDAQ-listed Top Ships has repossessed one of its product tankers and rechartered a bulker at a much lower rate
DryShips exercises options DRYSHIPS subsidiary Ocean Rig has exercised two of its ultra-deepwater drillship options and closed its previously announced $1.1Bn debt restructuring
Horizon liquidity halved JONES ACT box carrier Horizon Lines lost almost twice as much as expected in its first quarter, while liquidity was squeezed by stricter payment terms
Marad Offers $9.8 Million in Shipyard Grants The Maritime Administration will take applications until June 14 for a new round of small shipyard grants. There is...
US Railroads, UTU Reach Tentative Contract Deal Major U.S. railroads and the United Transportation Union, reached a tentative five-year contract agreement that runs through December 2014. ...
Customs to Test Automated Manifests U.S. Customs and Border Protection on Monday will begin pilot-testing automated ocean and rail manifest systems designed for the Automated...
Norfolk Southern Starts Building Memphis Hub Norfolk Southern Railroad is starting to build its Memphis Regional Intermodal Facility, planned as a western anchor of its latest...
Deadly Storms Leave Transport Struggling Alabama and other states nearby are trying to clear away debris that hampers transportation systems and to restore power to...
Container Ship Charter Rates Retreat Container ship charter rates are retreating as a wave of newly-built ships entering the market dulls ocean carriers' appetite for...
Brokers Urge Precise Language in Food Rule The National Customs Brokers and Forwarders Association of America cautioned the Food and Drug Administration to use care in its...
Japan Disaster Hits Caterpillar Global Output Caterpillar, a major global manufacturer of industrial, agricultural and transportation equipment including for trucking and rail markets, said it is...
Losses Widen for Horizon Lines in First Quarter Horizon Lines, already trying to stave off bankruptcy protection, said first quarter losses widened as China-West Coast service got off...
Carrier Behavior As container lines sought to solidify their recovery last fall and shippers looked to build on their gains of 2010,...
Pursuing a Claim: Set-Off vs. Suing Q: I have more than 48 years of experience in this industry, and I disagree with your advice to the...
Beating the Odds With container carriers trying to muscle into their markets, it'd be natural to think roll-on, roll-off carriers would be losing...
China's Engine of Growth Ocean car carrier executives have been working overtime to reschedule sailings across their global networks after the catastrophic earthquake, tsunami...
About Scale If you want a good snapshot of the direction of the U.S. economy, the progression of business at UPS is...
MSC Boosts Bunker Surcharges on US Imports Mediterranean Shipping Co. will increase its bunker fuel surcharges June 1 on all U.S. imports from northern Europe, Scandinavia, the...
Burk issues offshore alert Veteran equity analyst initiates coverage of offshore stocks following pilgrimage to Canaccord Genuity.
Horizon hit by CEO switch Retired CEO takes a bite out of New York-listed liner operator's bottom line with $2.3m severance package.
DRYS nears 'next phase' George Economou expects drilling wing to seal public listing in "the next couple of months" after exercising drillship options at SHI.
Top repossesses tanker Evangelos Pistiolis squares up for big money battle with Antonio Zacchello as he signs deals for a couple of vessels with leading charterers.
Havila stays in the red Oslo-listed company posts a first quarter loss but beats last year.
Oz dockers won't budge Last ditch negotiations fail to resolve impasse over pay.
Courage heading for loss Singapore listed bulk carrier owner warns of poor performance through first quarter.
Hyundai up by a fifth The world's largest shipbuilder saw profits lifted by new orders.
New5 in Numb3rs Another Bocimar capesize it cut adrift while Sammy Ofer is racking up boxship newbuildings.
Stealthgas offloads vessel Harry Vafias-led tanker owner continues fleet revamp.
How to be a jolly owner Straightforward advice on the work ' life balance, a search for steel and a manga goddess appears to get in the way.
Star Reefers slumps in first Kristian Siem-controlled reefer operator makes a poor start to 2011 with net profits down one-third.
Chemoil set for good start Singapore-listed bunker supplier, part owned by Glencore, exports to report a strong first quarter profit.
SITC back on order trail Yang Shaopeng-led liner operator returns to China's Yangfan Group for up to eight feeder containerships.
TAPA steps up campaign against cargo theft The Transported Asset Protection Association has initiated a campaign this week designed to improve collaboration among its members, and enhance the protection of so-called "high-value theft targeted" (HVTT) assets in the transportation supply chai...
DB Schenker makes inroads into Russian auto market ZAO Schenker, the Russian operation of DB Schenker Logistics, has started a business unit in Kaluga. Kaluga is considered a fast-growing economic region, especially with regard to the automotive sector. "Our existing collaboration with the market p...
Alliance wants higher food aid commitment in FAC In a letter this week to U.S. State Department Undersecretary Robert Hormats, the Alliance for Global Food Security urged higher food aid commitments in the new Food Aid Convention (FAC) being developed by donor countries. The alliance pointed out ...
Commerce secretary touts U.S.-South Korea trade U.S. Commerce Secretary Gary Locke is leading a bipartisan congressional delegation in South Korea this week to show the benefits of the pending U.S.-South Korea free trade agreement for American companies. "For the United States, implementation o...
ABS to build ship model center in Maine Ship classification society American Bureau of Shipping plans to establish a computer-based ship-modeling center in Brunswick, Maine, at a commercial park being developed at the former Naval Air Station Brunswick. The new facility will initially be...
MarAd: $9.8 million in grants for small shipyards The U.S. Maritime Administration's Office of Shipyards and Marine Engineering said it has $9.8 million in grants for capital and related improvements for qualified small shipyards. The agency said the grant funds may also be used for maritime trai...
Ardmore charters more tankers Tanker company Ardmore Shipping Ltd. has taken over contracts for two newbuild vessels from Hellespont Group and has agreed in a separate deal to charter in two vessels from Hellespont. Ardmore, based in Cork, Ireland, has agreed to take over the n...
China COSCO reports first quarter loss China COSCO Holdings said it had a net loss attributable to shareholders of 503 million yuan renminbi ($77.5 million) in the first quarter of 2011 compared with a profit of 883 million RMB in the first quarter of 2010. The company said first quart...
Justice Department fine slashed
Correction: Maersk AE6/TP6 service A story Thursday incorrectly said Maersk Line has dropped the TP6 leg of its transpacific service network. A Maersk spokesperson said in an e-mail to customers: "the TP6 remains one of our flagship services on the transpacific. There are no changes...
Bunker prices lower in the Americas Crude futures reach 31-month high after consumer spending signaled fuel demand may climb.
On course to launch world's largest kite-powered vessel Cargill's vision is to nourish a growing world population, by producing fuel in the most sustainable and efficient way possible.
Sustainable Shipping Awards: Deadline for submissions Awards help organisations and individuals grow their reputation and provide a real competitive advantage for business.
Fujairah fuel oil prices mixed Deliveries available for supply up to and including May 13 in Cape Town.
Rotterdam market stable Only a small number of enquiries in Hamburg.
DNVPS issues bunker alert update on Mumbai Extremely high cat fines found in samples from a further four vessels bunkered in Mumbai.
Serious off-spec incident 'a wake-up call' Supplier rules out cat fine contamination in supply chain and 'will be taking precautions' in the future.
Older vessels sidelined by bunker prices Reefer operator says it is 'uneconomical for owners of older, less efficient vessels' to take ships out of lay-up.
Price of bunkers in Busan soars to 33-month high Demand for bunkers average at most key Asian ports on Friday.
Off-shore West Africa service ready to start Lukoil-Bunker subsidiary targeting fishing fleets and transit vessels.
Suria Capital posts higher profit in 2010 On higher earnings from port operations, logistics and bunkering services.
South Korean ports see 'tight' bunker avails Only GS Caltex is offering to the spot market, traders say.
Singapore fuel oil stocks hit new high Fuel oil inventories at 23.189 million barrels for the week ended April 27.
Chemoil anticipates 'strong' return to profit Estimates Q1 net profit to be 'in excess' of $20 million.
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