Freight rates poised to rise after 2-year low FREIGHT rates are poised to rise after tumbling to a two-year low as owners of ships hauling coal and iron ore scrap the most vessels in at least 28 years.
Aussie coal, zinc mines close COAL and zinc mines were shut and at least 32 coal ships were steaming out to sea yesterday, joining sugarcane and banana farmers in north-eastern Australia in bracing for the forecast landfall later in the day of Tropical Cyclone Yasi.
Cyclone to inflict more pain on depressed capesize rates Weather-related cargo shortfalls in Australia blamed for 70% fall in January earnings
OSG charters two tankers in three-year deal US tanker owner Overseas Shipping Group has reportedly chartered two medium range product tankers from Hong Kong-based Cido Shipping for three years
MSC backs order for six 9,300 teu vessels to be built in Korea Liner giant continues its massive expansion plan as charter market slows for Chinese new year
Broker outlines anti-piracy plan Controversial scheme will use public and private funding to fight piracy
Business as usual amid the revolution Egypt remains a huge market ripe for investment. The continuing political turmoil will not quash that
Courage's dual listing may open door to Chinese investors
Davos Forum finds ray of light among gloom World business and political leaders predict a slight upturn in global growth, while stressing the growing gap between emerging and developed economies
Preventing a fall among lifesavers Despite the loss of lives ' even quite regularly ' some manufacturers and surveyors of lifeboats are failing to fix their faulty devices
Indian tiger strides ahead with growth India may not have the same economic clout as China but it is generating substantial rises in maritime trade
Owners to invest for a greater slice of trade expansion Indian-controlled fleet has been steadily expanding and modernising, but is still relatively modest in the context of its foreign trade
Capralos to take helm at Star Bulk To succeed Akis Tsirigakis as president and chief executive
Safmarine to continue to accept C'te d'Ivoire bookings Will accept cargoes to Abidjan that are re-routed via Algeciras and Tangier
Queensland coal ports shut ahead of Cyclone Yasi Export terminals at Hay Point and Abbot Point close and evacuated
Suez Canal remains open despite riots Waterway open to traffic but some ports closed and bulk cargoes face delays
KG funds' sales efforts hit by Korea Line filing Line's application for bankruptcy protection is hampering sales efforts by German KG funds
Standard P&I Club warns over liquefaction risks Bulk carrier owners still under pressure to load high risk cargoes without adequate precautions
Salvors free supramax from Indonesian coral Values of ship and cargo on which salvage awards are partly based at their lowest on memory
WWL unveils $100,000 green technology grant To hand out aid to companies developing environmental technologies for ships and ports
US ports limited by capacity and congestion constraints US Department of Transportation report warns that several key factors are constraints on US ports, including 'location in urban areas, land-use challenges, and funding'
Ship Finance unveils $100m bond issue John Fredriksen-led company would use proceeds for new investments and general corporate purposes
Labouring a point The era of moving from one labour market to another in search of lower costs as wages rise in established markets has finally come to an end
Box figures stack up All eyes are now on the weeks immediately after the Chinese new year holidays
Essar's third quarter profit soars 26% Third-quarter net profit jumps to $6.1m despite downward pressure on freight rates
Barge operators seek emergency funding To ask Brussels for aid as Rhine logjam shows signs of easing
Egypt crisis hits Atwood revenue Client declares force majeure on one of Atwood's rigs operating off Egypt
Kirby inks $53m Enterprise Marine deal Boosts presence in cruise bunker market after buying Enterprise Marine's ship bunkering operations
Cascading boxships may force lines to start new services Alphaliner predicts carriers' pledge to hold back launch of new Asia-Europe services will be 'short-lived'
The very model of a modern private navy Will private navies be effective against piracy? It has been tried before and the end result might not be quite what the insurance world was expecting
Marseilles volumes up 3% in 2010 Total volumes reach 86m tonnes but port's growth hit by strikes
Further strikes planned at Melbourne Dispute between Patrick and Maritime Union of Australia drags on
Sinking captain questioned MUMBAI police today questioned the captain of a box ship involved in a collision in which an Indian frigate sank.
US box share drops THE US share of global box traffic dropped from 16% to 9% in 1995-2009 as other regions saw faster growth, according to new government data.
Valve vigilance urged DANGER of fires could be increasing for ships and crews because of poorly maintained fuel equipment, the US Coast Guard warned today.
Tsirigakis departs Star Bulk AKIS Tsirigakis, the high-profile public face of Star Bulk since its inception, has been replaced as president and CEO, the company confirmed today.
French port workers renew strikes FRANCE'S leading port worker grouping confirmed to Fairplay today it plans a fourth straight weekend of strikes because the latest talks with port bosses have failed.
Wind-power base proposed for Belfast BELFAST Harbour and Denmark's DONG Energy have signed a letter of intent on using the harbour as a base for offshore wind farm projects.
Transcontainer boost seen RUSSIA'S rail box carrier Transcontainer will be boosted by rapid growth in container volumes this year, according to a report from Moscow's Renaissance Capital.
Mercator (Singapore) profits fall 32% DRYBULK carrier Mercator Lines (Singapore) said today that profits fell 32% year on year to $5M in the third quarter of its 2010 financial year.
Inquiry to start in deadly ferry blaze INDONESIAN authorities were expected today to begin investigations into the ferry fire off the Sunda Strait that killed at least 28 people.
Frontline sells OSG stake TANKER operator Frontline has sold its stake in Overseas Shipholding because it expects continued weakness in crude markets, analysts said today.
Ports lure private investors LAWYERS dealing in ship finance have told Fairplay that they are seeing more private investments in emerging ports.
Vinalines buys bulker VIETNAM'S Vinalines told Fairplay today that it has bought a Supramax bulker for $33M from an undisclosed Danish seller.
Weather, strikes cause MOL arrival delays MOL SAID today its ships on Asia/Europe routes are being delayed by severe winter and strikes.
Risk manager poached HAMBURG shipowner Bertram Rickmers has hired a former top ship finance manager from HSH Nordbank with a view of improving the group's internal processes and financial robustness.
Antarctic ship under way CRUISE ship Polar Star is on the move again after leaving its anchorage off Detaille Island, on the western side of the Antarctic Peninsula, where it grounded on 31 January.
C.H. Robinson Revenue Hits $9.3 Billion in 2010 Higher shipment volume helped boost C.H. Robinson's profit 17.6 percent in the fourth quarter to $103.2 million as revenue rose...
Giant CSCL Ship Begins Service China Shipping Container Lines took delivery of the first of eight new container ships whose capacities of 13,798 20-foot equivalent...
A. Duie Pyle Plans Routes with Descartes System Less-than-truckload carrier A. Duie Pyle made the tasks of planning, routing and dispatch easier and more efficient with the recent...
US-India Trade Jumps 31 Percent Trade between the United States and India jumped 31 percent year-over-year in the first 11 months of 2010, driven largely...
J.B. Hunt Tracks Storm-Bound Drivers on Facebook J.B. Hunt Transport Services is using the Facebook social media network to communicate with truck drivers struggling with the latest...
Appellate Court to Expedite ABF-YRC Lawsuit ABF Freight System's lawsuit challenging Teamster wage and pension concessions at YRC Worldwide is on a fast track toward a...
UPS Freight Passes $2 Billion Revenue Mark UPS Freight didn't increase less-than-truckload shipment volume much in 2010, but its LTL revenue leaped 10.9 percent to $2 billion,...
Carriers Watch Turmoil as Egypt Supply Chains Remain Secure SEA ISLAND, Ga. - International companies report little disruption to their operations in Egypt as a result of the widespread...
ODFL Profit Jumps to $76 Million on Rate Gains Old Dominion Freight Line more than doubled its profit for the full year and fourth quarter, as a 19.9 percent...
MOL Says Trans-Pacific Ships Arrive On Time Japanese carrier MOL said 97 percent of the ships in the trans-Pacific services on which it participates arrived at ports...
Winter Storms Disrupt Trucking, Rail Traffic The massive winter storm hitting a broad swath of the U.S. is delaying or stopping truck and train transport, as...
TNT Takes $62 Million Hit TNT, the Dutch express delivery and mail company, warned severe weather, strikes and integration costs will shrink its fourth quarter...
Export-Import Bank Chairman Urges Bids on Foreign Sales The Export-Import Bank of the United States is ready with financing and support for U.S. firms to increase exports, but...
Eurogate Boosts Container Handling 5.2 Percent Eurogate, Europe's biggest container terminal operator, boosted 2010 traffic 5.2 percent from a year ago, trailing double digit increases at...
French Port Strike to Resume Friday French dockworkers, crane operators and other port workers will walk off the job Friday, Feb. 4, in the fourth successive...
Global Air Cargo Jumped 20.6 Percent in 2010 Global air cargo traffic surged by over a fifth in 2010 from the previous year, driven by a rebound in...
Costamare Buys Five Container Ships Costamare, the NYSE-listed container ship owner, announced the signing of a contract for two new vessels with capacity of 9,000...
DOT trims special permits for certain hazmat The U.S. Transportation Department's Pipeline and Hazardous Materials Safety Administration (PHMSA) on Monday said it will incorporate the provisions of six widely used cargo tank special permits into the federal hazardous materials regulations. T...
New restrictions on Mississippi River The New Orleans-Baton Rouge Steamship Pilots Association said Tuesday further navigation restrictions on the Lower Mississippi River would take place immediately: Ships with a draft of 40 feet or more will be daylight restricted from 151.7 to 191...
Congressmen offer caution on rail regulation The chairmen and ranking member of the U.S. House Transportation and Infrastructure Committee have written to the Surface Transportation Board chairman expressing concerns about hearings to assess rail competition and review traffic exemptions. Mic...
UPS fourth quarter profit jumps 48% UPS reported profit of $1.1 billion in the fourth quarter, 48 percent more than in the same 2009 period. Revenue was $13.4 billion in the quarter, 8 percent more than in the fourth quarter of 2009. Results by segment are: Domestic package revenu...
MarAd disposes of 50-year-old cargo ship The U.S. Maritime Administration said the steamshipSolon Turmanwill be towed from the Suisan Bay Reserve Fleet on Wednesday for scrapping. This will be the 17th ship to leave the National Defense Reserve Fleet in Suisun Bay, Calif., since October 2...
Hapag-Lloyd amends U.S. Gulf/Med services Hapag-Lloyd said Tuesday it is changing the rotation of a service connecting the U.S. Southeast and Gulf regions with the Mediterranean. Changes on the German line's MGX service will include an eastbound call at Port Everglades and dropped calls a...
MOL liner on-time performance improves in Q4 Liner carrier MOL said Wednesday its on-time schedule performance on the three major east/west trades improved in the final quarter of 2010. The on-time performance rates by trade on services in which MOL provides vessels were: Asia/U.S. West Co...
C.H. Robinson 4th quarter profit up 18% C.H. Robinson said it had fourth quarter net profit of $103 million, 17.6 percent more than in the same 2009 period. Revenue was $2.3 billion and net transportation revenue was $342 million, both 16 percent increases. Fourth quarter results by seg...
Egypt protests hampering cargo activities Ongoing political protests in Egypt appear to be affecting oceangoing trade in and out of the country, according to media reports and statements from liner carriers. A note from maritime news serviceAlphalinersuggested that operations at Port Said...
Polar Star sails under its own power The expedition vessel Polar Star has received permission from its flag state and classification society to leave its location near Detaille Island. The ship has 80 passengers and a crew
Danish parliament: build a tunnel The Danish parliament has voted in favour of a tunnel, rather than a bridge, between Rødbyhavn and Puttgarden in Germany. The tunnel, made of concrete, will be constructed ashore and
More dangerous to sail in the Indian Ocean It is more dangerous to sail in the Indian Ocean than ever before. 242 piracy attacks took place in the area in 2010, compared to 228 the previous year. 62
Emission regulations to reach a crossroads in 2011 Evidence that Europe is moving ahead with regulations to take effect by 2013, says Carbon Positive.
Crude fluctuates on Suez Canal concerns Crude oil rose, approaching its highest price in more than two years, on concern that protests in Egypt may threaten exports from the Middle East.
WWL offers grants to promote zero-emissions technology Aim is to 'stimulate innovation needed to meet these tough new environmental standards'.
Bad weather hampers bunkering in Fujairah IFO prices climb more than $20 pmt in Middle East hub.
Bunker markets continue to firm Hamburg tight on barging.
Black sea port's bunker market 'not healthy' But Novorossiysk players say they will not allow a monopoly to develop.
Singapore fuel oil stocks 'steady' Arbitrage volumes have been 'thin'.
Strong energy markets, downside risk Energy markets remain on a strong upwards trend but expecting a 2008-type push ever higher may cause some disappointment.
Asian bunker prices on upswing Slack demand on Wednesday at key Asian bunker ports, traders say.
Bunkers on board vessels prop up scrap value LPG tanker and capesize bulker sold to Asian scrap yards at 'remarkable' prices, sources say.
Philippine oil firm to acquire bunker supplier Phoenix Petroleum Philippines further plans to incorporate a new firm to acquire tanker vessel.
US barge operator pays $53 million for bunker business Kirby Corporation to acquire Enterprise Marine Services.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
