Private security firms take on Somali pirates Upstairs in a public house on the English south coast, 18 men are preparing to take on the pirates of the Indian Ocean.
Q1 loss widens at Overseas Shipholding Overseas Shipholding Group, the largest US-based oiltanker owner, has reported a bigger first-quarter loss as shipping rates declined.
Daewoo Shipbuilding's profit doubles South Korea's second biggest shipbuilder Daewoo Shipbuilding and Marine Engineering said yesterday its first-quarter net profit more than doubled on strong orders of more expensive ships.
Cocoa price surge may end as Ivory Coast shipments resume
Switzerland: higher railtrack prices strengthen Neat profitability Switzerland's major New Rail Link through the Alps (NEAT) project is economically balanced. This was the conclusion of an independent feasibility study commissioned by the Federal ...
Chinese to construct new airport in Chad The government of Chad has signed a USD 1 billion deal with CAMC Engineering Co Ltd, an incorporated company registered with the Ministry of Commerce of the People's Republic of Ch...
Kansas City Southern Railways reports 12% growth in Q1 revenue The US-based rail service provider Kansas City Southern Railways (KCS), headquarted in Kansas City, reported Q1/2011 revenues of USD 489 million, a 12% increase compared to the cor...
New partner for 24plus The general cargo alliance 24plus logistics network has found a new partner for the Munich region in the shape of ABC-Logistik München GmbH. The new partner is ...
Gefco Romania renews collaboration with Carrefour Gefco Romania has been responsible for the retail chain Carrefour's import flows since 2010. The goods are forwarded in 20 t units by truck from France to Romania. This c...
Stadler Rail expands presence in North America Stadler Rail AG has announced the opening of Stadler US Inc, in Westfield NJ (USA), which will serve customers in the USA and support sales of all the Stadler products in North Ame...
Truck traffic rising steeply on Austria's motorways Truck traffic on all of Austria's motorways and trunk roads has risen massively, particularly in the eastern part of the country and in Upper Austria. The fact was revealed in...
Memphis and Paris sign historic pact During the "Airport Cities World Conference and Exposition" held in April in Memphis TN (USA), a letter of intent between business and government officials from Memphis a...
AirBridgeCargo Airlines operates first scheduled flights to North America Russia's largest operator of scheduled freight flights, AirBridgeCargo Airlines, has launched a thrice-weekly service to Chicago O'Hare airport (USA), with immediate effect. The fl...
Horizon Lines reaches agreement with CSX Horizon Lines Inc, one of the USA's leading domestic ocean shipping and integrated logistics company based in Charlotte NC, has finalized an agreement with CSX Corporation to reduc...
Oaktree speaking of a profit The US financial service provider Oaktree is apparently making an effort to resume operations with significantly fewer staff and 16 ships in Beluga's former premises in Teerhof in ...
World's largest ro-ro ship calls at Philadelphia The world's largest ro-ro vessel, the MV "Tønsberg", operated by the Swedish/Norwegian shipping company Wallenius Wilhelmsen, recently called at the Packer Avenue Ma...
Ren' Kircil is new senior area manager at Traxon Europe Traxon Europe has selected Ren' Kircil as its senior area sales manager. Kircil is directly responsible for sales in the Middle East, as well as for the management of sales for the...
P&O Ferrymasters raises Sabic stakes The pan-European logistics provider P&O Ferrymasters is set for a major lift in earnings due to a new contract with Sabic, one of the world's top five plastics and petro-chemic...
Kuehne + Nagel Poland opens new office at Krakow Airport cargo hub The global logistics service provider Kuehne + Nagel has opened an operational branch office in Krakow, in addition to its existing sales office, in order to serve the growing dema...
TNT wants more stringent cost-saving measures TNT, the Dutch mail and logistics corporation based in Amsterdam, intends to cut costs in its ailing express division. When TNT announced its Q1 results for the current busine...
VLCC benchmark rate rises after three-week slump Cargoes rise as traders and charterers return to work after Japanese and UK public holidays
Quiet times for boxship charters raise broker doubts Holidays or lack of demand cited as causes of low activity, with indices remaining flat
Bunker costs and weak dollar hold back Odfjell A steady increase in bunker prices, and the continuing strength of the Norwegian krone against the US dollar, are offsetting some of the gains made in the chemical tanker market by Oslo-listed Odfjell
Idle boxship fleet at lowest since 2008 Containership lay-ups have fallen to their lowest level since late 2008 despite depressed freight rates and signs of weaker charter markets
Baltic Exchange wins regulatory approval Will launch dry freight derivatives screen within 'weeks'
Case study: how to buy a container swap
A shipper's guide to box freight derivatives (or how to hedge your bets)
Steering a course through derivatives Brokers guide aims to demystify trades for shipping bosses
Basel III: key points
Long-life lease rule changes make buyers think twice
Wrong policies for the right reasons It is time to make more balanced choices about environmental measures
Three schools with fantastic stories Focus trained on the education of our future maritime leaders
Mumbai rides a tide of entrepreneurship A mass, and a mess, of contradictions, Mumbai is pivotal to India's recent economic surge
Glencore IPO set lower than expected Offering likely to raise $10bn, reflecting fear among investors of end to commodities boom
North P&I drops hull and machinery move Taking on MSMI's book would lead to insufficient new business, says insurer
SCI still eyeing shipyard investment Involvement with more than one yard is considered as long-term fleet expansion plans continue
Survivtec buys rival Cosalt Marine for $50m Latest step in acquisition trail that started last year
Glencore announces price range for its planned initial public offering Cornerstone investors to subscribe for 31% of total offer that is targeted to raise $10bn
Asia-Europe freight rates hit 16-month low CTS statistics show box rate slide is gathering pace
Matson Navigation hit by $7m loss Container line suffers impact of increasing fuel costs and transpacific vessel capacity, despite 17% rise in revenue
Managing risk Moves to develop a market in container shipping paper products have run into a storm of controversy
Toll Group cuts cost of debt with fresh $400m borrowing Move is part of wider programme to refinance logistics company's debt
Spanish court sentences Alakran hijackers to 439 years' jail Finding points to government involvement in $3.5m ransom payment
Panalpina profit on container volumes outstrips maritime box throughputs First-quarter containers up 2% as logistics operator forecasts single-digit growth for sea freight
Gothenburg volumes hit record 233,000 teu in first quarter Swedish port's ro-ro traffic up 10% as car shipments surge 39%
PIL to connect Long Beach to Australia and New Zealand China Transpacific Service to be improved in response to rising demand for space from Australasia to Asia
Safe Bulkers holds charter earnings steady in first quarter Net income of $27m represents 15% slide from same time last year, when ship sale contributed half of Greek owner's profits
Gemini anchored off Somalia Hijacked chemical tanker's crew 'remains priority', says Glory Ship Management
Tropical box volumes fall QUARTERLY losses for Tropical Shipping have widened on waning Caribbean volume, parent Nicor disclosed today
North puts off scheme NORTH P&I Club's directors said today uncertain markets have forced it to postpone new fixed-premium hull and machinery coverage
Coal demand buoys Panamax rates BROKERS told Fairplay today that China/India Panamax rates are rising, with both countries boosting coal imports this week
Totals fall at Algeciras APBA, the port authority for Algeciras, has said its box throughput slipped to 671,501teu in the first quarter
DSME doubles profits SOUTH Korea's DSME reportedly doubled its net profits in the first quarter to 238.7Bn won ($222M) from 114.8Bn won a year earlier
Why Russia barred gasoline exports AN ENERGY consultant told Fairplay today a gasoline shortage is being caused in Russia by the high profitability of exports
GENCO defends spot plan PROFITS of NYSE-listed GENCO have been cut by two-thirds, courtesy of its increasing exposure to depressed spot rates
NOL's revenues drop NOL SAID today its average revenues per feu from 12 March to 8 April were lower than in the same period last year, largely due to declining rates on the Asia/Europe route
EU-Indonesia timber deal agreed INDONESIA and the EU have reportedly agreed to a scheme aimed at ending export shipments of illegally sourced wood
US grain exports threatened HEAVY silting along the Southwest Pass on the Mississippi River is endangering grain exports
'E-waste' tracking futile? ATTEMPTS by US regulators to track exports of used electronic equipment are insufficient to keep ships from being detained at foreign ports, according to an environmental group
More VLCC scrapping seen PRESSURE to scrap older VLCCs could mount as the oversupplied market continues to drag down freight rates in the face of growing crude demand, according to Poten & Partners
Aframax rates soften AFRAMAX owners are set for a quiet week as May Day and Japan's Golden Week holidays affect chartering activity, brokers in Singapore have told Fairplay
Baltic clings to payout BALTIC Trading continues to dole out dividends to its shareholders, despite failing to break even
CSX Splits Stock, Hikes Dividend, Buys Shares CSX Corp., the parent company of CSX Transportation, announced it will split its stock, raise the dividend and buy back...
Q&A: US Port Security Before and After 9/11 What did port security mean to the maritime industry before the September 11 attacks? Are enough measures in place today...
JOC Announces Dates for TPM 2012 and 2013 The Trans-Pacific Maritime conference, The Journal of Commerce's largest event of year, will be held on March 4-6, 2012, and...
Martin Leaving as CEO of Waterways Council Cornel Martin is resigning as president and CEO of Waterways Council Inc., a trade association for the inland marine barge...
US Ready to Move on FTAs with Colombia, Panama, South Korea The Obama administration said Wednesday that it is ready to work with Congress on the approval of free trade agreements...
Former TCC Customers Told to Pay Obligations The Danish administrator appointed to oversee The Containership Co.'s financial restructuring is asking the defunct trans-Pacific line's former customers to...
Canadian Longshoremen Ratify Labor Contract Canadian longshoremen ratified a watershed contract that should guarantee labor peace at the country's Pacific Coast ports for eight years....
Tropical Shipping Losses Doubled in First Quarter Tropical Shipping's first quarter operating loss widened to $1.2 million from $500,000 a year earlier as shipping volume for the...
Rickmers Upgrades India-Europe Service Project and heavy-lift specialist Rickmers-Linie said it is adding four ships to its India-Europe service to take advantage of an...
Dockworkers Strike APM Terminals Algeciras Over 300 dockworkers at APM Terminals in the Spanish port of Algeciras on Monday stopped work to protest a wage...
Panalpina First Quarter Profit Grows 22 Percent Panalpina Group reported double-digit growth in profit during the first quarter and said it expects air and ocean freight markets...
Matson Swings to First-Quarter Loss Matson Navigation swung to an operating loss of $7.4 million in the first quarter ended March 31 from a profit...
Drewry Spot Rate Climbs 8.9 Percent The Drewry Container Rate Benchmark for eastbound trans-Pacific shipping climbed 8.9 percent in the week ending Monday, the second week-to-week...
India's Adani Group Acquires Australian Terminal India's Adani Group acquired Abbot Point Coal Terminal, a dedicated coal export facility, in Queensland, Australia, from North Queensland Bulk...
Coustas issues warning Chief executive of US-listed containership owner says orderbook "should be closely observed" following competitive first quarter.
FBR's 'quick picks' US investment bank says shares of Peter Georgiopoulos-led bulker duo are the best way to play a near term uptick in rates.
Quake stalls Keppel order Singaporean shipbuilder postpones construction of Oslo IPO hopeful's $200m rig following delays in Japanese steel imports.
Term score for K Line Japanese owner's support vessel arm wraps up work for new platform supply vessel in the North Sea.
Lazard downs Eagle Nasdaq-listed bulker owner suffers downgrade as New York equity analyst reacts to fears surrounding $1.2bn debt dispute.
Damp distress for cargoship Rescue boats help Norwegian vessel that sprang a leak and broke down off Dyroya.
Matson sinks to loss New York-listed parent of US liner operator watches first quarter profit slip by 70% as costs trump rising revenues.
Baltex gets green light UK financial services watchdog approves Baltic Exchange FFA trading facility as board agrees on roll-out.
Search for missing woman US Coast Guard resumes attempt to find passenger who disappeared from Celebrity Millennium.
FOE bags bond bonanza Oslo-listed rig owner pockets over $260m from its trip to the bond market.
Ferry probe begins Strait Shipping's freight ro-pax Monte Stello suffered brief contact with submerged object in Tory Channel.
Hyundai Mipo on the up Korean shipbuilder sees net profit grow 10% year on year.
Pain for PGS Oslo-listed offshore owner drops into the red in first quarter but operating numbers edge past company's forecast.
Sincere on the slide Taiwanese bulker owner posts lower first-quarter profit as investment income falls.
Clarksons' US raid rolls on Former marine James Bell and Robert Parker drafted in from IBS Group by shipbroker to lead new US banking unit.
Sick crewman taken off VLCC Indian national hospitalised off Malaysia after suffering stomach pains on AET tanker.
Glencore scales back IPO Swiss trading and chartering giant will raise up to $10bn from listing, rather than the $12bn touted last month.
Greek in dash for gas John Angelicoussis now understood to have swapped three VLCC newbuildings for LNG carriers at Daewoo.
Del Monte expands deal with GT Nexus Del Monte Foods has extended its dealings with Oakland, Calif.-based trade software company GT Nexus to include automated inventory and document management processes between Del Monte and its international supplier community, GT Nexus said Tuesday...
U.S. industry urges TAA extension The Trade and American Competitiveness Coalition, a group of 18 large business associations, urged President Obama and congressional leadership in a letter Tuesday, to extend the Trade Adjustment Assistance program, which expired Feb. 12. "TAA is a...
Railroads reach agreement with largest union The nation's largest freight railroads have reached a tentative labor agreement with their largest union, the United Transportation Union. UTU, which represents about 38,000 workers, said Monday it reached a five-year national rail agreement cover...
Debate rumbles over wider use of big trucks Trucking and railroads clashed over legislation introduced in the U.S. Senate and House on Tuesday. U.S. Sen. Frank R. Lautenberg, D-N.J., introduced a bill that would extend the current limit of 80,000 pounds and maximum length of 53 feet for tra...
Maersk to raise U.S./Mideast-India rates Maersk Line said this week it will raise U.S. export rates to ports in the Indian Subcontinent, Red Sea and Middle East regions. The increase, effective June 1, is $120 per 20-foot container, $150 per 40-foot container and $190 per 45-foot containe...
Tropical Shipping reports lower volumes Tropical Shipping had first quarter operating revenue of $80.8 million, about 3 percent less than the $83.5 million in the same 2010 period, Tropical's parent company, the Illinois-based gas utility, Nicor said Wednesday. Tropical, a container ca...
Matson loss drags down A&B earnings Alexander & Baldwin, parent company of Matson Line, said it had first quarter profit of $5.2 million, less than one-third of the $17.3 million it earned in the first quarter of 2010. Revenue was $405.6 million during the quarter, 18 percent more t...
NOL: container volumes up, rates fall Neptune Orient Lines, parent company of container carrier APL, said it moved 229,700 40-foot equivalent units in the four-week period ending April 8, 12 percent more volume than in the same 2010 period. NOL said in its most recent operational upda...
Crude dips on supply surge 'The inventory numbers were much more bearish than expected.'
Vopak increases tank capacity in Rotterdam Further strengthening the company's position as market leader.
Fujairah prices steady Major supplier out of Durban market.
Bunker price rises outstrip surcharges Matson reports an operating loss.
Rotterdam and Hamburg prices mixed HS 380 cSt product is reported to be limited in Rotterdam.
High sulphur samples raise questions about MARPOL compliance Some 7% of Rotterdam stems have sulphur content above ECA limit, says fuel testing agency.
UFS boosts its team Latest appointment 'another significant part of long term expansion plan.'
Spanish naval vessel orders ships anchored off Gibraltar 'to leave' Gibraltar protests incident as 'provocative and unlawful'.
Bunker prices generally down mid-week Demand generally 'moderate' in main Asian bunker ports, traders say.
IPO price range values Glencore at $61 billion Targeting to raise about $10 billion from dual IPO.
Hambantota bunker sector to offer 'opportunity' to private sector Industry players welcome SLPA chairman's latest comments.
Daewoo receives patent for LNG/LPG multi-fuel vessel World Intellectual Property Organization publishes patent for Daewoo Shipbuilding & Marine Engineering.
CSAV Q1 net loss widens to $186 million In line with slower demand for container vessels and high bunker fuel costs.
Centrifugal pumps 'best' for low sulphur fuels Centrifugal pumps can theoretically 'last forever' when used for low sulphur fuels, says Grundfos spokesman.
Statoil Fuel & Retail posts lower Q1 profit Sees lower sales from 'other products', including marine fuels.
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