Oil tanker glut expands as demand slows A surplus of the largest crude-oil carriers competing to load two-million-barrel cargoes at Persian Gulf ports expanded as available ships overwhelmed demand, a survey showed.
Slowdown takes its toll on container lines Shipping lines are losing a record US$141 for each container they haul to Europe from Asia, the world's second-largest trade route for the boxes, as slowing economies dent demand, ACM/GFI said.
Rio aims to double commodities haulage Rio Tinto Group, the world's second-largest mining company, aims to almost double the amount of commodities shipped on vessels that it owns or hires to get iron ore and coal to customers more quickly.
Weak iron ore demand may hit shipping rates
Strait Talk
The cost of protectionism COMPETITION, protection and how not to do it
Oil tanker glut expands as demand slows A surplus of the largest crude-oil carriers competing to load two-million-barrel cargoes at Persian Gulf ports expanded as available ships overwhelmed demand, a survey showed.
Slowdown takes its toll on container lines Shipping lines are losing a record US$141 for each container they haul to Europe from Asia, the world's second-largest trade route for the boxes, as slowing economies dent demand, ACM/GFI said.
Rio aims to double commodities haulage Rio Tinto Group, the world's second-largest mining company, aims to almost double the amount of commodities shipped on vessels that it owns or hires to get iron ore and coal to customers more quickly.
Weak iron ore demand may hit shipping rates
Strait Talk
The cost of protectionism COMPETITION, protection and how not to do it
MSC deploys large containership in Baltic Sea feeder traffic The Mediterranean Shipping Company has commenced Baltic Sea feeder activities with the 4,170 teu containership "Bentonville", the first unit of this size to be deployed i...
UAE logistics association elects new board The UAE's National Association of Freight and Logistics (NAFL), the official body that represents the country's freight forwarding community in the International Federation of Frei...
Russian Railways and STM-Service sign contract Russian Railways and STM-Service (part of Sinara Transport Machines) have signed a contract for the maintenance of the main electric freight series Sinara (2ES6), which is produced...
VTG shifts traffic from road to rail with new ethanol fleet VTG, a Hamburg-based wagon lessor and rail logistics company, has introduced a wagon pool that offers flexible transport solutions for ethanol spot traffic from Rotterdam. Customer...
Major highway upgrade completed in Australia The upgrade of the Pacific highway at Glenugie near Grafton in NSW (Australia) has entered the home straight with major works now completed and traffic set to roll on a newly-dupli...
Gefco Ukraine celebrates three years of service Gefco Ukraine, founded in 2008, has established itself well and now records revenues of more than EUR 8 million and employs 35 people. Gefco Ukraine is in charge of transport flows...
New Italy-India container service The Italian firms Fremura, Sermar Line and Transagent have agreed to establish a container line between the ports of the upper Adriatic Sea and India. The link, running via Port Sa...
Iata figures show airfreight volume decline The International Air Transport Association's traffic report for September shows that airfreight posted a 2.7% fall compared to September 2010, representing a further deterioration...
Night-time flight bans come at high price says Tiaca The International Air Cargo Association (Tiaca) has commented on a German ruling banning night flights at Frankfurt airport (see ITJ Daily of 13 October). Tiaca chairman Michael St...
Aeroflot subsidiary acquires first B777-200ER The Orenburg-based Russian carrier Orenburg Airlines, a subsidiary of Aeroflot, recently welcomed its first long-haul Boeing B777-200ER. The aircraft is the twentieth Boeing leased...
Hermes opens new centre in Germany The German logistics provider Hermes has expanded its branch in Ohrdruf (Gotha district, Germany) by a new handling centre. 15 million shipments annually are due to be managed here...
Stobart Group reports good results in H1 The Stobart Group, a UK provider of multimodal transport and logistics solutions, has released its interim results for the six months to 31 August. Revenue stood at GBP 281 million...
Norbert Dentressangle reports 25% revenue growth The French transport and logistics group Norbert Dentressangle's consolidated revenue totalled EUR 2.6 billion in the first nine months of 2011, up by 25% vis-à-vis the same period...
Market realities fail to sink in Shipowners seem as blind as ever to the question of demand as they rush to order new vessels
Seafarers' welfare a key part of piracy response Maritime Piracy Humanitarian Response Programme is promoting good practice
GLA's eLoran is a sound insurance With Galileo jammers in place before Galileo itself, a backup for satellite navigation is a wise move
One in four MAIB inspectors to go Job losses form part of DfT's 20% per year spending cuts
Cyber hijack? You must be joking It is 'not feasible' that pirates can take over a vessel by computer hacking
P&I premium rise brings brokers' role to the fore With shipowners paying as much for P&I as for hull, brokers can help secure better deals
Increased P&I competition will push brokers' role further Regulators are changing the way they perceive P&I
Batista expands his offshore ambitions Recently floated equipment supply company demonstrates Brazilian's focus in tapping into the huge potential of the country's offshore sector
Brazil needs further reforms to boost growth Policymakers face key challenges in controlling inflation and boosting investment rates
Concordia Maritime puts renewed focus on vegetable oil market Weak product tanker market makes IMO III conversions attractive
EU pay ruling sees Cunard and P&O ditch Red Ensign Shipping minister despairs at cruiseship reflagging but is glad there has been no mass exodus
Petrolesport completes second phase of St Petersburg reefer yard and customs zone Plans to increase throughput to 2.3m teu per year
Baltic ports 'cautiously optimistic' despite slowdown Survey of port managers in nine Baltic Sea countries finds expectations of modest growth in cargo volumes
Signs of order amid the chaos Investments by western shipping companies are small steps on Nigeria's long path to prosperity
Mar Oil VLCC sales highlight fall in asset values since August Reported prices of $33m greater than brokers' estimates for tankers of a similar age
Cash flow crisis, Somali style Pickings have been thin for Somali pirates
Iron ore swap volumes hit record high in October Rise coincides with capesize charter rates surging, but now chartering activity is slowing down
Middle East-Asia VLCC earnings slide back below operating costs Futures market suggests little joy for owners for remainder of fourth quarter
Maersk orders save DSME from revenue loss Danish owner accounts for more than half of yard's commercial vessel sales
Drewry transpacific box rate jumps 4%, back above $1,500 per feu Gain follows in the wake of Shanghai Containerised Freight Index Asia-US west coast rising last week
No boxship charter pick-up ahead of Eisbeinessen festival Activity is steady but prices paid by lines are still extremely low
Fastnet halts Irish Sea services Examinership forces suspension but ferry line hopes to relaunch next spring
APL clears reefer boxes for use Move follows grounding to assess explosion risk in light of repair work accidents
Norden seals $50m financing for two newbuilds Handysize bulk carriers under construction in Japan to be delivered in 2012 and 2013
Metrostar wins key Korean refund guarantee case Owner to collect $60m from Kookmin Bank after UK Supreme Court ruling
Yang Ming box sale brings in $30m Cash-raising follows $175m nine-month loss
Weaker rates all but wipe out Genco profit Minimal gain still surpasses Wall Street expectations
Baltic Trading slips into the red Genco subsidiary pledges to stand by bountiful dividend policy
Moroccan port stymied A DOCKER lock-out at Morocco's Tangier-Med Port has forced box liners to seek alternatives
Wales/Ireland ferry woes THE IRISH Fastnet ferry has two weeks to restructure its business after being placed in Interim Examinership
Save-the-whales USWC routing urged US COAST Guard has urged changes in routes into port at Los Angeles and Long Beach to protect feeding whales
Eurotunnel challenges SeaFrance JV proposal EUROTUNNEL has lodged a complaint against a proposed takeover of ferry operator SeaFrance by DFDS and LDA
MAIB cuts questioned in UK UK CUTS prompted the Chamber of Shipping today to question whether the slashes would end the "first-class service" from the MAIB
Oakland faces protest OAKLAND port officials are bracing today for a potentially major shipping disruption, with protesters tied to the 'Occupy Wall Street' vowing to shut it down
Russian finds terminal flaws THE KREMLIN has suspended contruction after finding that Ust-Luga's new oil export terminal failed construction standards
Cape correction lurking? DEUTSCHE Bank analyst Justin Yagerman cautioned today that the Capesize bulker rally might have resulted from a fleeting confluence of events, suggesting that overcapacity will reassert itself
ST Marine settles claim ST MARINE of Singapore has settled a damages claim lodged by France's Louis Dreyfus Armateurs over a failed S$179M ($140.5M) contract for a ro-pax
Rena salvage resumes SALVORS in New Zealand are preparing today to pump more oil from the stranded box ship Rena after holding off over a night of foul weather
Coal demand rise seen despite Beijing policy CHINA'S demand for coal figures to rise over the next three years as its coal-to-chemical plants multiply, a conference heard today
Maersk takes 3 Panamax box ships en bloc MAERSK Line has injected life into the stagnant Panamax box ship charter market by taking three 4,380teu ships for six months, brokers told Fairplay today
STX OSV dodging bullet? ANALYSTS said today offshore vessel builder STX OSV is likely to be spared blowback from a rating agency's downgrade of Norway's Eksportfinans
Vietnam extends Van Phong work halt VIETNAM has extended its suspension of contruction at Van Phong's port, the Vietnam Ports Association told Fairplay today
Mounties pursue smugglers CANADIAN mounties are pursuing two alleged members of an Asian smuggling ring that imported more than half a million cartons of illegal cigarettes over two years
Occupy Protestors 'Shut Down' Port of Oakland THIS IS A 10 P.M. EDT UPDATE Occupy Oakland protesters halted nighttime wa operations at the Port of Oakland...
TransForce to Buy Quik X, Sales Jump 49 Percent TransForce's acquisition of a cross-border, expedited less-than-truckload carrier expands the Canadian trucking giant's reach further into the U.S. ...
Hirschhorn Confirmed as Commerce Undersecretary The Senate confirmed Eric Hirschhorn, a key player in export control reform, as Commerce undersecretary of export administration on Monday....
OOCL Container Revenue Plummets 8.3 Percent Revenue at Orient Overseas Container Lines fell 8.3 percent in the third quarter as new capacity helped push average revenue...
FedEx Opens First Forwarding Office in South Africa FedEx Trade Networks opened its first office in South Africa, and added offices in Italy and Turkey, as the air...
Net Orders for Heavy Trucks Rose in October Preliminary net orders for Class 8 trucks defied recessionary expectations in October, rising month-over-month and year-over-year, according to ACT Research....
Tech Provider Descartes Expands in Europe Descartes Systems Group's $13.8 million cash acquisition of a Dutch company specializing in the transmission of data expands the Canadian...
TSA Takes Fire for Missing Cargo Screening Deadline Senior Democratic members of the House Homeland Security Committee on Monday criticized the Transportation Security Administration for not meeting a...
West Coast Container Imports Fell 7 Percent in September Container volume at West Coast ports declined 2 percent year-over year in September, as a 7 percent drop in imports...
UPS Freight Targets Missed LTL Pickups UPS Freight is rolling out technology that will help less-than-truckload shippers better control the "first mile" of any freight movement,...
Higher FTR Trucking Index Reflects Higher Rates Disciplined management of capacity and pricing, coupled with falling fuel prices, meant better times for trucking companies in September, FTR...
Tropical Shipping Swings to $3.7 Million Loss Caribbean carrier Tropical Shipping posted a $3.7 million third quarter operating loss, reversing a $3.6 million operating profit a year...
Vitran Losses Mount Despite Freight Gains Vitran's losses deepened to $3.4 million in the third quarter, compared with a $2.3 million net loss in the second...
BNSF Expects Return to Pre-Recession Volume in 2013 BNSF Railway foresees a slow economic recovery and doesn't expect its freight volume to return to pre-recession peaks until about...
Mica Defends Spending Level of Transport Plan House Transportation and Infrastructure Committee Chairman John Mica defended his six-year transportation plan from accusations that the bill wouldn't maintain...
Danaos Receives New Ship, Charters to CMA CGM Danaos said it took delivery last month of the CMA CGM Bianca, a new containerships with a capacity of 8,530...
Semiconductor Sales Fell 2.7 Percent in Third Quarter Global semiconductor sales fell 1.7 percent year-over-year in September, leaving the foundation technology industry down 2.7 percent in the third...
Trans-Pacific Rates Rise First Time in Two Months Trans-Pacific spot rates rebounded this week off their 22-month low of last week, rising for the first time in two...
APL Grounds Some Refrigerated Containers APL pulled some of its refrigerated containers from service and said Wednesday the remaining stock in its reefer fleet is...
Hutchison Ports to Develop, Operate UAE Terminal Hong Kong's Hutchison Port Holdings won a 10-year concession to develop and operate a container terminal at United Arab Emirates'...
Transport Corporation of India Profit Falls 5 Percent Transport Corporation of India's profit fell 5 percent year-over-year to $2.75 million in the fiscal second quarter ending Sept. 30,...
West Coast Isolating Vietnam Reefer Containers Waterfront employers are working with the International Longshore and Warehouse Union to identify and isolate at-risk refrigerated containers arriving at...
WSC ceo: Our green fee proposal more cost efficient than uniform fuel levy Following the World Shipping Council's (WSC) proposal for a carbon emissions fee on individual ships, its president and ceo Chris Koch in an exclusive interview ...
APL provides for Thailand flood relief APL and APL Logistics, today announced efforts on three fronts to combat Thailand's devastating floods. The companies' three-pronged contribution to flood ...
Port of Oakland urges protest march to be 'peaceful and safe' Port of Oakland (US) chiefs have urged members of the public to keep their protest strike supporting the Occupy Wall Street movement - slated for this afternoon ...
Salvage teams resume on Rena
Itajai shuttered by strike The Brazilian port of Itajai has been closed since last Thursday owing to an indefinite strike by tally clerks who want more cash - an inflation matching 7% rise ...
Rogue reefers prompt stoppages at Seattle & Oakland Dockers at the US west coast ports of Seattle and Oakland have refused to unload vessels over concerns that faulty refrigerated containers - serviced in Vietnam ...
Teekay storms Wall Street US-listed owner turns to investors for the funds it needs to bankroll billion-dollar acquisition of AP Moller's LNG fleet.
ORIG closes in on Oslo shift George Economou-backed drillship owner poised to exit Oslo OTC market by December.
Tidewater takes a hit US-listed offshore giant fears further pain amid contentious contracts with Saudi Aramco.
Srab slashes loss Stockholm tanker owner posts narrow deficit in first nine months after battling down costs.
OceanFreight narrows loss US-listed bulker owner suffers $21m hit as costs tied to DryShips merger bruise bottom line.
Sovcomflot tries again Russian owner back in UK high court arguing it should be allowed to appeal against earlier rejection of bribery claim against former boss and Russian businessman.
Kookmin loses UK case Judges reverse Court of Appeal ruling on refund guarantees leaving Kookmin with a large bill to pay.
Nordea lends less Nordic ship financier sees income fall as margins on shipping loans are rising.
Fab ferry contract signed Seattle yard US Fab to build 144-vehicle vessel for Washington state.
Uljanik sees profit dip Croatian tanker and bulker owner logs lower earnings in first nine months as revenue edges down.
Rieber nets newbuild deal Polar Duchess goes to seismic operator on three-year contract plus possible extension.
IFO prices in Fujairah gain double digits 180 cSt product available in Durban but avails are subject to enquiry.
Sinopec in talks to buy stake in Galp's Brazilian unit 'Sinopec wants to be more integrated with enough upstream assets to balance their refining and marketing businesses.'
Rotterdam and Hamburg markets firm Prompt product remaining tight in Rotterdam.
Buyer cooperative to expand team Current BP Marine employee to join Bebeka in January.
Study promotes speed limits for shipping to reduce emissions Speed limits agreed at IMO would help cut CO2 and other pollutants, NGOs conclude after seminar on slow steaming.
Mid-week prices firm at bunker hubs Supplies mixed across key Asian bunker hubs on Wednesday.
Stricken vessel's officers face additional charges Captain and second officer face charge relating to 'discharge of harmful substances from ships.'
IFO supplies improving in Hong Kong Due to arrivals of replenishment cargoes last week, traders say.
Do not be caught off guard by introduction of new sulphur limit 10-15% of bunkerings worldwide will be affected by the change in global sulphur limit come 1st January.
MF Global Holdings files for Chapter 11 MF Global 'winding down' Singapore office, according to SGX filing.
WFS posts record quarterly profits Its marine segment sees an increase in sales volume and higher gross profit per metric tonne.
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