US-listed shipping firms in danger of going under At least four US-listed shipping companies are likely to face restructuring or declare bankruptcy over the next 12 months as the long downturn in the freight market forces further consolidation, an industry executive told Reuters.
Container shipping rates dive in Q3 The world's container shipping market may remain bleak for the rest of the year, after seeing shipping rates halved in the third quarter as Western buyers tighten their purse strings amid growing fears of a global recession, a specialist said yesterday.
Shipping emissions targeted by environmental groups Ships emit more carbon dioxide and should be taxed to help poorer nations adapt to climate change, environmental groups said.
Aerologic to cooperate with TFC Käufer Aerologic, a joint company of DHL Express and Lufthansa Cargo, will cooperate with the TFC Käufer flight schools in training young pilots as of next month. In doing so, the German ...
USD 31 million to improve rail services in Washington State The US Department of Transportation is investing 31.1 million in the State of Washington to improve intercity passenger and freight rail services on the Cascades line. A highlight ...
Second mark V ro-ro vessel delivered to Wallenius Wilhelmsen Wallenius Wilhelmsen Logistics has taken delivery of MV Parsifal, its second mark V ro-ro vessel. The Parsifal is a sister vessel to MV Tonsberg, delivered to Wallenius Wilhelmsen ...
Universal Africa Lines with new vessels and routes Starting in early October Universal Africa Lines will sail from west Africa to south and east Africa using the UAL Cyprus. The following ports will be served: port Harcourt (Onne),...
Devereux Transport invests in Volvo trucks in UK Family-owned freight forwarder Devereux Transport of Billingham (UK) has put six new Volvo FH 6x2 tractor units into service. All trucks were supplied by the Stockton-on-Tees Deale...
MAN plant in Brazil hits 500,000 vehicles mark MAN Latin America has produced its 500,000th vehicle at its Resende plant, which has been in operation for almost 15 years. MAN plans to increase its sales in Brazil over the next ...
Transport sector to go on strike in Italy The TransportoUnito union has called on drivers to take industrial action as of today, Monday, until Saturday. The reason for this is the discontent over the legal framework condit...
Union Pacific Railroad invests in track improvements Union Pacific Railroad will continue improving the transportation infrastructure in Iowa by investing nearly USD 10.5 million in the rail line that runs from Des Moines to Iowa Fal...
Kuehne + Nagel appoints William Rooney seafreight transpacific VP Kuehne + Nagel, one of the world's leading logistics companies, has named William F. Rooney vice president of seafreight transpacific. In line with Kuehne + Nagel's transpacific Go...
Upgraded shipping service to boost African trade The addition of Beira and an eastbound Toamasina call on Safmarine's weekly shipping service between southern Africa and Asia, the Safari 3 service, will help boost trade between t...
DSM Dyneema finalises acquisition of IP rights DSM Dyneema, a global company active in health, nutrition and materials, has finalised the outright purchase of IP rights related to the manufacture of light weight air cargo palle...
Gefco boosts sales in first six months of 2011 In the first six months of 2011, the French transport and logistics group Gefco improved sales on the prior year's same period by 17.5% to approximately EUR 2 billion. The operatin...
Imperial Group acquires Lehnkering Imperial Holdings has taken over of German Lehnkering Holding. The acquisition is subject to merger clearance by the European Commission. The South African logistics corporate Impe...
Norbert Dentressangle expands in South America French transport and logistics services provider Norbert Dentressangle has opened offices in Chile and Brazil as part the continued development of its freight forwarding business. ...
Turkish Cargo launches Sharjah route today Fresh off the back of launching new destinations in Saudi Arabia (see ITJ Daily 20 September), Turkish Cargo is now adding new destination in UAE. The company already operates frei...
Asian storms drive VLGC rate to fresh highs Cargo discharge delays cut the number of available ships, driving up freight rates
Shell fire set to hit tanker market if shutdowns continue Oil and products taken off the market after Singapore refinery is closed
Grimaldi offers way out of Tunisian stalemate Fear of competition thought to be behind the problems the Italian company has encountered since it launched a new service to Tunis in July
P&O Ferries chief tells inquiry of 'total lack of trust' with Dover Helen Deeble tells of dispute over tariff that raised cash for second ferry terminal that is still not built
What's next for China Shipping 'plc'? The world's dominant shipping market is evolving, but don't look for an easy ride
Weighing a China slowdown The world's second largest economy may be undergoing a manufacturing contraction. Is it temporary?
TBS International gets delisting notice Joins growing queue as share prices refuse to rise
Nor Lines orders two gas-powered vessels Ro-ro operator opts for pure gas engines over dual fuel system
Economic balance to be restored It will take at least two years for equilibrium to return. There are signs suggesting shipping may be able to handle the transition period well
Panama must come clean on the Danny FII tragedy Panama should take its responsibilities seriously and come clean on the Danny FII tragedy
Age of the iPad pilots arrives Trials of enhanced portable pilot unit are completed in Dublin Port by Safeport/EGNOS
EEDI is based on 'lousy' maths and should be scrapped Findings come ahead of IMO talks on applying index to ro-ro and passenger vessels
Call for co-ordination as marine LNG fuel projects increase Too many projects addressing obstacles of LNG as bunker fuel could lead to confusion
Denmark's ballast water convention ratification reports 'wrong' Bill has been passed but some small legal issues still need to be resolved
First seismic vessel transits northern sea route Route saved eight days on Panama transit and 13 on Suez
Safmarine to be merged into Maersk Line Up to 240 jobs to go with closure of Antwerp office
Eurotunnel buys back $132m of bonds at 11% discount Move will reduce total debt of $4.8bn
Politicians unmoved by piracy plague despite 'nightmare' risks Maritime leaders lament continuing paucity of resources deployed to fight off hijackers
Seafarer morale sinking, claims ITF More attention must be given to meeting needs of profession beset by host of negatives
Weak market hits logistics giants Full-year earnings estimates cut at Panalpina and Kuehne+Nagel
Supramax values drop to handysize level Smaller tonnage is selling for the same price as larger bulkers in secondhand market
Cypriot leader targets growth for flag despite Turkish ports ban Third-largest European registry complains it has been held back by 'hostile' Turkey
SAMI hits back at conflict of interest claim Trade body says it is 'completely removed' from vetting process of armed guards
Theochari sees industry vulnerable as banks weaken and new money holds back We've never seen anything as atomic as this, Norton Rose transport head warns
Small victories The UK government's latest U-turn on tonnage tax is an entirely logical and welcome concession based on sound argument and reasoned debate
Bureau Veritas urges stronger links between class and insurance Insurers could benefit greatly from reservoir of knowledge, says BV chief Bernard Anne
Eagle Bulk lays groundwork for reverse stock split Pact with lenders includes possible sale of ships as executive incentive package also proposed
Falling scrap prices hit cash buyers in India Re-sale prices drop
Rongsheng nabs shuttle tanker order and tows the party line Two vessels for Shanghai Northsea Shipping will support CNOOC offshore projects
Panama Canal sets record THE ACP is doubling the Panama Canal's capacity by 2014 with a huge expansion - but it won't need to wait until then for a new throughput record
NASDAQ warns TBS on listing NASDAQ has sent a warning on a potential delisting to shipowner TBS International, the company confirmed today
ESA: Italian flag could be targeted A SHIP management leader warned today Italy's flag could be a target if Rome makes further austerity steps to cut its vulnerability to international markets
Top sell-off continues DEBT-LADEN Top Ships has sold yet another bulker for a huge book loss as it seeks to raise cash to cover its loan obligations
Wadan suspect dies after Moscow attack A SHIPPING figure charged with embezzlement in the Russian takeover of Wadan Yards has reportedly died in hospital after being shot. Wadan suspect dies after Moscow attack
'K' Line sees far worse losses 'K' LINE said today it expects losses to be 15 times worse than earlier predicted for the financial year ending 31 March 2012
Golar LNG shares hailed FIRST Securities, the Oslo investment bank, has opened its coverage of Golar LNG with a 'buy' recommendation
FESCO lifts liner revenues FESCO said its net income was $38M in the six months to 30 June, from $31M in losses a year ago
Stainless-steel S&Ps firm TANKER broker EA Gibson said today secondhand prices for stainless-steel chemical tankers are firming on short supply
Appeal court frees Ashika boss A FORMER New Zealand shipping leader jailed over Tonga's Princess Ashika ferry disaster has returned home after succeeding in getting his sentence reduced
Early NOL switch sparks box reactions MARKET watchers were reacting today to Ng Yat Chung's weekend succession of Ron Widdows as CEO of NOL
Spill owners to plead guilty THE OWNERS of the general cargo ship Pacific Adventurer has agreed to plead guilty to discharging oil in Queensland's coastal waters, the state's government said
UK tonnage tax hailed THE UK Chamber of Shipping has welcomed the British government's decision to keep its tonnage tax regime
Chinese prices seen boosting coal imports BULKER exports to China are expected to resume in earnest after this week's Golden Week holidays, following last week's surge in domestic steam coal prices
Shell refinery fire sparks force majeure SHELL Singapore chairman Lee Tzu Yang said force majeure is continuing today for some customers, after a serious fire at its Pulau Bukom refinery last week
Obama Sends Trade Pacts to Congress for Approval President Obama sent Congress long-pending free trade agreements with South Korea, Columbia and Panama on Monday afternoon. The...
Panama Canal Sets 2011 Tonnage Record Cargo shipped through the Panama Canal increased by 7.1 percent in the fiscal year 2011 ended Sept. 30, to set...
South Carolina Blocks Savannah Dredging Permit South Carolina environmental regulators on Friday blocked a permit sought by the Army Corps of Engineers to deepen the Savannah...
Manufacturing Index Climbed in September The Institute of Supply Management's closely watched manufacturing index defied downbeat expectations on Monday by growing one percentage point in...
Shippers Step Up Campaign for Heavier Trucks A coalition of about 200 shippers backing the use of heavier trucks launched a video campaign to build support for...
Kerry Logistics To Open Singapore Hub Late 2012 The opening of Kerry Logistics' regional hub in Singapore in the fourth quarter of 2012 will position the company for growing...
Southeast Chinese Port Traffic Up 8.3 Percent Throughput at ports in the southeast Chinese province of Fujian from January to August rose 8.3 percent year-over-year to 6.1...
Safmarine Merger Into Maersk Cuts 240 Jobs Container line Safmarine said Monday it will merge its operations into larger sister carrier Maersk Line, a move that cut...
Cargolux Settles Boeing Freighter Dispute Cargolux is expected to take delivery this month of its first 747-8 freighter after settling a contract dispute with Boeing...
South Korea Projects Export Slowdown Weak demand for exports from Europe and the U.S. will slow South Korea's trade growth in the fourth quarter as...
Laboring Globally, Acting Locally When the International Longshore and Warehouse Union violently protested the hiring of non-ILWU workers at a Pacific Northwest grain elevator,...
Congested Indian Port Appeals For Aid India's Port of Chennai appealed to container terminal operators, shipping lines and shippers to help ease congestion at the congested...
St. Lawrence Seaway Strike Averted A tentative agreement between nearly 500 Canadian Auto Workers and Canada's St. Lawrence Seaway Management was reached early Monday morning,...
Global Air Cargo Slowdown Accelerates The downturn in the global air cargo market accelerated sharply in August with traffic shrinking 3.8 percent from a year...
Galborg, MACS Share Durban Berth Galborg Line, which operates a regularly scheduled multipurpose liner service from the U.S. Gulf to southern Africa, shares a dedicated...
River of Dreams The Yangtze River is the world's third-longest river after the Amazon and Nile, stretching 3,914 miles from the Tibetan Plateau...
A Hazardous Disconnect Ten years after the September 11 terror attacks, the United States has a spectacularly inexcusable problem regulating motor carriers that...
Schneider Dedicated to Sharing Shippers looking to lock down capacity are turning not just to carriers, but to each other, and logistics providers are...
FedEx Freight Priced for Profit The FedEx trucking division, and the largest U.S. less-than-truckload carrier, reported a $42 million operating profit in the fiscal quarter...
FedEx Ground Delivers Profits Express air shipments may provide heavy lift for FedEx when it comes to revenue, but ground freight is delivering the...
What's Propping Up Rail Lumber? At a time when the U.S. housing market is in its worst condition since home ownership began to boom after...
Beef on Export Menu The record drought in the Southwest this year caused $5.2 billion in agricultural losses in Texas, the Texas AgriLife Extension...
US Box Loss Is Canada's Gain A U.S.-Canada cross-border dispute simmering since last spring may be on the verge of boiling over. Six West...
Gulf Ports Building for Future With container and general cargo volume steady and rising across the Gulf of Mexico, ports are spending much of their...
Lone Star Rebound The Texas industrial real estate market is booming as shifting global trade patterns and demographic trends make Dallas, Fort Worth...
Crossing the Border When industrial equipment giant Caterpillar announced plans in June to expand into an 850,000-square-foot manufacturing facility in Victoria, Texas, the...
Hardly a Winged Victory The arrival late last month of a China Cargo Airlines freighter at Lambert-St. Louis International Airport was supposed to launch...
Cargo Security 2.0 A large container ship is slowly transiting the Kill van Kull channel on its way to a berth at Port...
ILA, ILWU Not Going Away With the International Longshoremen's Association contract expiration a year away, some shippers already are starting to explore contingency plans. Possible...
Maersk integrates Safmarine management Maersk Line will integrate the internal support and management functions of its subsidiary line Safmarine, including closing Safmarine's Antwerp headquarters and other offices Shanghai, Dubai, Cape Town, and Mumbai. "Safmarine currently operates a...
Liberty Maritime switches unions Liberty Maritime Corp. of Lake Success, N.Y. on Monday said it has entered into a new collective bargaining agreement with the American Maritime Officers (AMO) union. Under the agreement, AMO will provide U.S. citizen licensed deck officers and en...
U.S. flag interests push cargo preference enforcement In advance of a hearing Monday by the Maritime Administration, USA Maritime, a trade association for the U.S.-flag shipping industry, issued a statement calling for strong support of cargo preference laws reserving government subsidized and guarant...
Maersk adds East Africa calls on Asia loop Maersk Line is adding two calls to a service connecting its Southeast Asia hub of Tanjung Pelepas with southeastern Africa. The line's Safari 2 service, which it jointly runs with subsidiary line Safmarine, will add a call at Beira and a second cal...
MSC raises U.S. export rates to Asia The liner carrier Mediterranean Shipping Co. said Friday it will raise U.S. export rates to the Far East beginning Nov. 1. The increases are $100 per 20-foot and $200 per 40-foot dry container, port-to-port, and $150 per 20-foot and $250 per 40-foo...
India worries over SCI's finances India's shipping ministry is concerned the country's state-owned shipping line is treading on dangerous financial territory, according to an internal ministry document obtained by theEconomic Timesof India. According to the document, the Shipping ...
MOL Logistics pays $1.84 million for fee fixing Japanese freight forwarder MOL Logistics (Japan) Co. Ltd. on Friday agreed to plead guilty and pay a $1.84 million criminal fine for its role in a conspiracy to fix certain fees in connection with the provision of forwarding services for air cargo...
U.S. agencies join import safety targeting center The Environmental Protection Agency and the Pipeline and Hazardous Materials Safety Administration have joined the Commercial Targeting and Analysis Center operated by U.S. Customs to coordinate inter-agency inspection decisions related to import s...
Market jittery as crude pushes bunker prices lower Both buyers and suppliers playing a waiting game on Monday after crude futures fall to one-year low.
Bunker levy could help developing countries, says ICS Developed nations must 'not end up keeping the lions' share' of funds raised from shipping.
Durban resumes supply as Cape Town halts spot market quotes Fujairah starts week with nearly $20 pmt price drop for IFOs.
Two US refineries change ownership Murphy Oil 'repositioning' itself.
Engine builder wins orders for 'Environship' concept Vessels will be 18% more fuel efficient and will cut emissions of SOx, NOx and CO2, says Rolls-Royce.
Surge in Russian fuel oil exports Players move to beat tax increases.
Week opens with falling bunker prices Demand mostly above average at key Asian bunker hubs.
Indian shipping ministry to 'regulate movements' of old vessels India to tighten monitoring of ships more than 25 years old.
Bunker spill in US port Fuel tank 'overfilled' during bunker operations.
BP buys 380 cSt parcel at strong premiums Premium among highest levels in the market.
Russian port operator sees 141% increase in net profits Novorossiysk Commercial Sea Port Group sees increase in revenue from its bunker services.
Shell confirms 'force majeure' on products from Singapore plant Singapore Civil Defence Force formally hands back Pulau Bukom plant to Shell.
Hong Kong bunkering suspended on adverse weather Bunker supplies to be 'squeezed' as typhoon delays bunker cargo unloading schedules.
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