Dry bulk carrier rate could hit bottom next week Freight rates for capesize dry bulk carriers on key Asian seaborne routes could hit a bottom over the next week on rising Chinese demand for relatively cheap iron ore.
Global shipping industry facing major downturn The global shipping industry is experiencing a downturn that is worse than that seen during the 2008 financial crisis, China's transportation minister said. Speaking at an industry conference on the Chinese island province of Hainan yesterday, Li Shenglin said there was no end in sight to the ongoing shipping downturn.
UK urged to include int'l shipping emissions in 2050 climate targets Britain should include international shipping emissions in its climate targets to 2050, in an effort to regulate the growing carbon footprint of the sector, a body which advises the government on climate action said yesterday.
CSX reports record operating income in Q3 The CSX Corporation, a leading US transport company based in Jacksonville, FL, has made third quarter net earnings of USD 464 million compared to USD 414 million last year. This is...
Gefco offers new services to Central Asia Gefco recently opened a new route between Latvia and Central Asia that will be used to deliver new vehicles to Kazakhstan, Uzbekistan, Mongolia and Tajikistan. Vehicles are picked ...
Highway expansion project in eastern India India's cabinet committee on infrastructure has approved a project to expand the Birmitrapur-Barkote section of national highway 23 in Orissa to four and two lanes, with paved shou...
Stricter exhaust norms for trucks in London Exhaust norms for driving in London's low-emission zone (LEZ) are set to change in January 2012. Trucks will be expected fulfil the Euro 4 exhaust norm for particulate matter, and ...
Carsten Fuhlendorf new Hellmann CFO Carsten Fuhlendorf took over the management of the finance department as CFO of the global service provider Hellmann Worldwide Logistics group, based in Osnabrück, on 1 November. (...
OOCL figures for first nine months OOCL said that volumes handled in the third quarter (to 30 September) were 6.6% up on the same period last year. Revenues decreased by 8.3% to USD 1.441 billion. Volumes increased ...
Boeing delivers 300th B777-300ER Boeing's best-selling B777, the B777-300ER, passed its 300th delivery recently, when first-time customer Biman Bangladesh received a unit. The B777-300ER had 543 orders on 30 Septe...
Emirates SkyCargo hits 100% in use of e-AWB from Dubai Emirates SkyCargo, a leading player in the industry's move towards e-freight, has added further momentum to the drive by announcing that electronic air waybills (e-AWBs) are now be...
EU and Sri Lanka to boost mutual air transport The European Commission and Sri Lanka concluded an aviation deal in Colombo last week, which will provide a legal basis for the development of future aviation relations between Sri...
K Line adds Korea-Philippines-Indonesia container service Kawasaki Kisen Kaisha (K Line) has added a new weekly service from Korea to the Philippines and Indonesia as a slot operator. The port rotation of the Jaseco-K link is Xingang, Pye...
Evergreen Line adjusts intra-Asia services The Evergreen Line will realign its fleet deployment and launch new services this month, as a reaction to developments in intra-Asian waterborne trade. Two new loops will replace E...
DSV increases sales and profit in first nine months DSV, a transport and logistics services provider based in Brondby (Denmark), increased sales in the first nine months of the year, from EUR 4.23 to 4.4 billion. The operating resul...
Dimotrans to open new head office in 2012 Groupe Dimotrans, a French forwarding and logistics company, is building a new head office in Pusignan near Lyon. The building with 51 docking stations will be opened in April 2012...
Norbert Dentressangle to deliver Bradnam coffins in Scotland Bradnam Joinery, an English coffin and casket specialist, has appointed Norbert Dentressangle to provide flexible and cost-effective transportation in Scotland. Bradnam coffins are...
Bulk deliveries in 2011 to hit record 95m dwt Newbuilding volumes counterbalanced by scrapping, but weak rates set to persist
Rotterdam warns of stalling growth Port predicts slowdown in fourth quarter after sub-2% cargo rise in first nine months
Top boxship fleets lose up to 24% of value in 2011 Latest service from VesselsValue.com shows true impact of overcapacity on ships' worth
OceanFreight shareholder fails to win restraining order against DryShips takeover New York judge says petition unlikely to succeed on its merits
Transatlantic MR tankers see earnings slide as arbitrage closes Owners said to be 'despondent' as returns drop closer to operating costs
Offshore exploration likely to rise 18% next year Investment bank polls companies drilling wells in fields of at least 100m barrels
Deepwater basins attract exploration North Sea, Greenland and Falklands on the list of up and coming prospects
US Gulf springs back to life after moratorium Recent deals also point to buoyant West Africa and Guiana among the core basins
Red Sea deathtraps The latest ferry disaster shows lessons still have to be learned
1,200 rescued after Red Sea ferry fire One dead in accident off Aqaba on board vessel carrying migrant workers
Slow economic activity puts lay-up on agenda A number of variables must be considered before a vessel is committed to being taken out of service
Product tanker captured off Nigeria Unknown number of crew being held
When headlines run away Misinformation crops up easily in covering shipwrecks
Supramax 'bloodbath' in the Pacific Rates drop 30% in a fortnight on Indonesia-India coal lane as oversupply hits market
FreeSeas debt payback gains momentum from handymax sale Cantor drops coverage as Greek bulker owner sees first-half figures hit by vessel impairment losses
Genmar in the balance after another quarter of losses Company cancels conference call and fails to reveal cash balance
Owners risk violating German flag act Obtaining permission to flag out can affect validity of charter parties, liability and property insurance, loan securities and could breach EU competition and labour rules
Cut in MAIB probes raises union fears Agency says reduction is due to reclassification but Nautilus voices safety concerns
Falling down Maritime safety is too important to be compromised by short-term penny pinching
Owners of bulker Arion SB fined $750,000 over oil pollution Oregon judge finds call at Portland included a failure to maintain proper records of oil residue disposals and doctoring records of onboard waste-oil incinerator
Operating under US flag is too expensive, say carriers US Maritime Administration survey finds its nation's flag 2.7 times more costly than a foreign equivalent
Panalpina trims outlook No growth for airfreight and little for ocean freight
Rising costs cut into Cosco Corp profits Yard also hit by low dry bulk charter rates for owned fleet
Attica's $33.6m capital boost wins shareholder go-ahead Ferry owner will use funds for working capital against backdrop of industry losses
Marco Polo wins US Chapter 11 bragging rights Retainer paid by owner to lawyer after deciding to declare US bankruptcy is held to be enough to establish jurisdiction
Newcomer is the biggest draw at bankruptcy party Law firm with no previous exposure to shipping snares the first two Chapter 11 immigrants to arrive on US shores this year
Payment made Seaarland offshoots eligible for protection Retainer paid a week before Chapter 11 filing established 'property in the US'
Sembcorp profits slip but outlook remains strong Singapore yard says future looks 'intact' for offshore sector, especially deepwater
Stolt-Nielsen secures new $600m credit line Sum will be added to $300m bond issue to fund capital investment
Sovcomflot's bribery case saga takes another twist Tankers giant wins right to appeal against case being heard under English law instead of Russian
DryShips seals OceanFreight deal GEORGE Economou's DryShips today completed its takeover of OceanFreight and a shareholder suit challenging the deal has been thrown out
Stolt-Nielsen unveils $600M deal for refinancing STOLT-Nielsen said today it has obtained commitments for a $600M senior secured revolving credit facility
TransAtlantic reports $37M in losses SWEDEN'S TransAtlantic has blamed international economic crises for its "unsatisfactory" turn to $140M in quarterly losses
Teekay LNG's follow-on offering priced NYSE-listed Teekay LNG has succeeded in pricing a large follow-on offering, marking the first equity sale by a US-traded shipping company since July
SCF wins UK approval for partial appeal SOVCOMFLOT has won UK court approval to appeal part of a British ruling against the Russian tanker grou
'Tricking' sparks late Halloween US fine A BULKER'S owner and operating company have been fined $750,000 after pleading guilty to US oil pollution violations
Algoma triples earnings CANADIAN shipping corporation Algoma has reported tripled net earnings for the first nine months of 2011, following a recent fleet expansion
Arrested VLCC reported sold ONE OF TWO arrested VLCC sisters has reportedly been sold in Singapore
FreeSeas renegotiates debt NASDAQ-listed FreeSeas today finally told its investors how much it lost in the second quarter - more than four months after that period ended
EC sends Madrid back to the drawing board SPAIN'S yards are pledging to keep trying to fashion a new tax-lease scheme to finance ships, after the EC rejected Madrid's proposal yesterday
Slow return predicted for breakbulk to Libya GENERAL cargo shipments into war-torn Libya are only slowly resuming, the Africa Breakbulk conference is being told today in Bremen
Correction continues for Capesize iron ore THE CAPESIZE market continues quiet this week amid lower Chinese iron ore demand and rising Atlantic availability, Brokers told Fairplay today
Growth in bulker fleet seen ARCTIC Securities has revised up its forecast for growth in the drybulk carrier fleet
MISC steps up piracy fight MALAYSIA'S flagship carrier MISC said today it has converted a second box ship into a naval auxiliary vessel to address Somali piracy
Wilson reverses to losses WILSON today reported 3Q11 net losses but noted that spot rates in Europe's shortsea drybulk market have been recovering since the end of the quarter
USDA's Sanchez on Options for US Companies in China's Cold Chain (Video) Jorge Sanchez, head of the agricultural trade office in Guangzhou for the USDA's Foreign Agriculture Service, speaks at the TPM Asia...
Senate Rejects Obama Transport Plan The Senate narrowly rejected a $60 billion transportation spending bill proposed by President Obama on Thursday, as many Republicans said...
STB Says Only UP Posted Adequate Revenue in 2010 The U.S. agency that regulates economic issues between railroads and shippers says Union Pacific Railroad was the only major carrier...
Expeditors Overcomes Market for Record Profit Expeditors International of Washington improved net profit 11 percent in the third quarter to $106.6 million despite a 4 percent...
Operations Resume at Oakland as Protest Eases Cargo-handling operations at the Port of Oakland returned to normal Thursday morning following a night of disruptions from the Occupy...
Rotterdam Sees Traffic Rise, Expects Slow Year-End Rotterdam container traffic in the first three quarters of 2011 grew 7.7 percent year-over-year, but Europe's biggest port warned growth...
Full Speed Ahead for Railroads Intermodal rail traffic is maintaining good momentum this autumn even as the international shipping business moving containers on the water...
Battling to Stand Still Backers of two competing transportation plans are jockeying for support by selling their initiatives as job creators and taking shots...
Greenbrier Profit Rises 64 Percent on Record Sales Propelled by surging rail equipment demand, railcar and barge maker Greenbrier Companies saw profit jump 64 percent to $12.6 million...
Higher Pricing Boosts Roadrunner Profit 38.2 Percent Acquisitions, rate hikes and a surge in freight pushed revenue up 38.2 percent to $226.2 million in the third quarter...
Savannah Container Traffic Jumps 11.1 Percent Container throughput in September at the Port of Savannah jumped 13.5 percent sequentially from August and by 11.1 percent year-over-year....
Ray LaHood Wakes Up, Finally! Last month, while speaking at the Washington Post Fixing America's Foundation: Rebuilding Transportation Infrastructure conference, Transportation Secretary Ray LaHood cemented...
Amsterdam Schiphol Cargo Volume Falls 6 Percent Amsterdam Schiphol airport handled 6 percent less cargo in September than a year earlier, but Europe's third largest freight hub...
Maersk's Barfod Discusses No-Show Clause, Reefer Slow-Steaming Challenges (Video) Thue Barfod, refrigerated container business development manager at Maersk Line Hong Kong, discusses Maersk's new no-show clause with Stephanie Nall...
Currency Pulls Panalpina Profit Down 7 Percent Panalpina reported lower third quarter profit as a strong Swiss franc offset record ocean container volume and strong air freight...
Fines Against ILWU for EGT Protest Top $300,000 The International Longshore and Warehouse Union was fined $65,000 for blocking access to a controversial grain terminal in Longview, Wash....
New twist in eurozone crisis as Greek PM 'resigns' Finding himself in between a 'rock and a hard place' - having announced a referendum on the eurozone rescue plans for his country, but being told by EU leaders ...
Russia's rail freight arm privatised; but still Russian The transport division of Russia's state railway group RZD has been sold to Universal Cargo Logistics Holding (UCL), owned by Russian tycoon Vladimir Lissin. The ...
Climate change committee: include shipping in UK's emissions target The Committee on Climate Change (CCC) said in a report today that shipping should be included in the UK's climate change budgets, which under the Climate Change ...
New Yangtze terminal given go-ahead A proposal for a new terminal to be constructed in Wuhu, on the Yangtze River, has been given the green light after China's Ministry of Transport (MOT) approved ...
Weak transpac and Asia-Europe trade impacts OOCL's Q3 OOCL is the latest carrier to see its Q3 financial results negatively affected by the weak volumes and plunging freight rates in the major east-west trades: its ...
Oakland shuttered by 'Occupy' protesters 'Occupy Wall Street' movement demonstrators forced the closure of the US west coast port of Oakland last night with officials advising that maritime operations ...
Greek tanker falls to Somali pirates Although as yet unconfirmed by EUNAV FOR, the NATO Shipping Centre has advised that an 11,600 dwt Greek chemical tanker was pirated on Monday while sailing within ...
New fuel tested by Marad, Navy A fuel that is partially made by algae has been tested as part of a joint effort by the Departments of Defense and Transportation. Culture mixed with ultra low-sulphur diesel.
Vessel valuation service adds boxships The online ship valuation service VesselsValue has added containerships to its vessel categories. It now values containerships from feedermax (500 TEUs) up to ultra-large container vessel (18,000 TEU) size.
Conference focuses on emissions control and LNG fuel alternatives Vote was taken to determine IBIA's position on whether the organisation should lobby IMO to postpone the 0.1% cap in 2015.
Fujairah prices fall Supplies were tight for prompt dates.
EPA approves engine replacement grant The boat's old engines are from 1953 and 1960, decades before emission standards went into effect.
Rotterdam market softens High volume of enquiries in Hamburg.
Guilty pleas and $750,000 fine following US oil spill Owners and operators of a Cyprus-based ship have been convicted of environmental crimes following a spill in the Port of Portland.
Russian crude output up after new export duty regime New tax system designed to increase country's crude oil export at the cost of fuel oil.
Ship emission reduction measures 'must be global' Chamber of Shipping warns UK-specific ship emission reductions would be distorting, but agrees shipping should not be excluded from carbon targets.
Bunker prices falling in key Asian ports Prices lower despite slight increase in WTI crude futures.
Call for support on switch to cleaner fuels in Hong Kong Added cost to shipping firms for switching to low sulphur fuels pegged at $2-3 million per annum.
UK's shipping emissions 'should be included' in climate targets Committee on Climate Change review says UK's international shipping emission will be 'material', but admits calculations are uncertain.
Salvage efforts resume on Rena as weather improves Teams to re-establish on-board systems for fuel removal, says MNZ.
South China fuel oil imports down 33% in October Ample stocks of fuel oil at South China-based terminals.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
- 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
- Ocean news
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
