Supertanker charter rates jump 6.3% The cost of delivering Middle East crude oil to Asia, the world's busiest route for supertankers, had the biggest weekly gain in eight as demand strengthened.
Suezmax earnings plunge below $10,000 per day West Africa and Black Sea markets continue to suffer from overcapacity and competition from VLCC sector
Capesize congestion has 'diluted' effect as fleet grows Despite 140 ships waiting to berth globally, at just 11% of total vessels, rates have not reacted in the same way they would have two years ago
South Hook unmoved by threat shale gas poses to LNG imports South Hook Gas, a UK-based company importing liquefied natural gas, remains undeterred by the threat of nascent UK shale gas production stifling LNG imports
Paper market threatens capesize rally Atlantic basin supply squeeze pushes Brazil-China rates up but FFA contracts traded show decline on horizon
Greece's beacon of hope is all at sea As the economy worsens, the shipping industry says it needs more state backing
Wake-up call to realise maritime sphere's potential Hellenic Chamber of Commerce sets out its agenda for the government to do more
Shipping legend Sammy Ofer dies Two sons will ensure business continuity
Polish register accepted back into IACS after 11 years Period spent outside the association was not wasted, says PRS
Le Havre determined to plough ahead with expansion plans Customers put their projects for Le Havre 'in the freezer' during the recent industrial unrest, says commercial chief Hervé Cornède, but now is the time to bring them back to the table
Marseilles targets the million teu barrier Operating concessions for box terminals have been granted and substantial container capacity is either in place or planned
St Petersburg's Yanino logistics complex opens New facility is claimed to be the first in Russia to combine container and railroad terminals, warehouses and customs facilities
Trafigura to revive Mississippi River's Burnside bulk terminal Plan for $100m expansion could turn alumina facility into a leading coal handler
Steve Schollaert takes over as head of APL's transpacific business Replaces Bob Sappio who departs APL after 29 years
Flag states must promote standards The overall rate of vessel detentions for safety and environmental protection deficiencies is falling, but a stubborn rump of ships still fail to meet expectations
Ship safety and security into US improved 2010 But some flags continue to have high detention rates,Coast Guard report reveals
Commerzbank bid to integrate Deutsche Schiffsbank hindered EU ban on acquisitions by state-aided banks until 2012 means remaining 8% out of reach
Daewoo, Hyundai poised to win order for a combined eight LNG carriers Shipyards expected to get two firm orders and two options each
St Petersburg box volumes continue upward trend First Container Terminal, one of four box facilities in the Baltic port complex, recorded a 6.6% rise between January and May
Rising imports boost Port Botany Container throughput for April rises 5.6% over the same month last year to 162,000 teu
Côte d'Ivoire and Comoros added to US Federal Register terror-risk list Vessels entering US after calling at designated nations must implement security measures
Sammy Ofer's legacy Well before philanthropy became fashionable, Sammy Ofer was giving away vast amounts of his wealth to charities and other good causes
Stolt-Nielsen seeks up to$300m in new bond issue Cash assigned to general corporate purposes following 'disappointing' first-quarter results
Cargo ship crew robbed off Singapore Second incident this week sees knife-wielding gang rob Mongolia-registered vessel
Hyundai Mipo in new order for five product carriers worth $186.1m Unnamed European shipowner to take delivery by late 2012
India calls on Lloyd's to reduce piracy risk zone Increased patrols make Indian waters safer
No disruption from Milford Haven blast Shipping operations unaffected by refinery fire
Courage Marine to push ahead with Hong Kong listing Singapore-listed Taiwan dry bulk company is aiming for dual listing by June 24
Polish Register rejoins IACS THE POLISH Register of Shipping said today it has rejoined IACS
Ofer dies amid Iran row ISRAELI shipping tycoon Sammy Ofer has died just over a week after his companies were sanctioned by the US for selling a tanker to Iran
Toxic-linked ship reported in Vietnam A BULKER linked with a deadly toxic waste case in Ivory Coast is anchored in Halong Bay, Vietnam, the Paris-based international green group Robin des Bois said today
Liners boost box leases BOX LESSORS are predicting a bumper year as container lines continue to shift away from buying boxes
Qatar-Mumbai cable completed CABLE-laying ships have completed an undersea fibre-optic cable linking Qatar to India, IHS Global Insight reported today
Shanghai readies Phase 4 SHANGHAI is preparing the fourth phase of its Yangshan port project, designed to increase its handling capacity by 40%, IHS Global Insight reported today
Stolt-Nielsen to issue bonds OSLO-listed Stolt-Nielsen announced today that it is contemplating issuing $200-300M in new senior unsecured bonds
Oz coal workers vote to approve strike AUSTRALIA'S coking coal exports could be hit after workers at the country's biggest miner and exporter of the commodity voted to strike over wages and job security
Convicted pirates appeal FIVE SOMALI pirates convicted of hijacking of a South Korean chemical tanker and wounding its captain have reportedly appealed their sentences
China to turn up the gas CHINA IS likely to use more natural gas as worry grows about pollution from steam coal, Shell's chief political analyst has predicted
VLCC brightening seen THE VLCC rate outlook is brightening somewhat today for at least the short term, as the growth of fixtures in recent weeks has finally whittled down the tonnage glut
Aframax rates lifted RATES FOR eastbound Aframax crude cargoes are rising, with fear about tighter tonnage sparking generosity in charterers, brokers told Fairplay today
Panamax rates soften HIGHER tonnage availability and competition from cheaper but bigger Capesize bulkers have softened Panamax rates, brokers told Fairplay today
Spill follows collision CREWS contained an oil spill today off Busan, which took place after a vehicle carrier and a box ship collided
Vinashin wants 90% debt write-off VIETNAMESE shipbuilder Vinashin has asked bondholders to write off 90% of debts, as a result of its default on a dong-denominated bond in April
Calif. State Assembly Tables Trucker Classification Bill The State Assembly will most likely not address a bill that would classify drayage truck drivers at California ports and...
DOT's Stimulus Spending Hits $28.4 Billion The Department of Transportation's payouts to states for work done under the 2009 economic stimulus law went above $28.4 billion...
Transportation Job Growth Flat in May Freight transportation employment was virtually flat last month while a closely watched survey of non-manufacturing activity showed a sharp drop...
EPA, UPRR Settle Dispute for $25 Million Union Pacific Railroad will pay $25 million to settle a longstanding dispute with the Environmental Protection Agency over lead cleanup...
Local Teamsters Leaders to Review Car-Haul Pact Leaders from Teamsters union locals around the country will review a tentative national car-haul agreement when they meet in Nashville...
Truckload Capacity Index Up 14 Percent Truckload capacity appears to be tightening again, after loosening in April, according to a key measure of industry equipment supply...
AAR Names Knight Chief Lobbyist The Association of American Railroads will have a new person serving as its top lobbyist, as Laurie Knight will take...
FMC Reopens for Business After Power Outage The Federal Maritime Commission is back in business and reopened today after being closed all week because of failures in...
Japanese Ship Orders Up 9.4 Percent in April Japanese export ship orders rose for the 17th consecutive month in April year-over-year, increasing 9.4 percent to 912,142 gross tons,...
Rotating Canadian Postal Strike Begins The first of 48,000 Canadian postal workers launched a series of rotating city-area strikes in Winnipeg, Manitoba, Friday while their...
Sammy Ofer, Co-Owner of Israeli Ocean Carrier, Dead at 89 Sammy Ofer, the billionaire Israeli shipping magnate and co-owner of ocean container carrier Zim, died today in Tel Aviv after...
Pier 1, Sharp Tumble in Importer Rankings Sharp Electronics and Pier 1 fell back sharply in The Journal of Commerce rankings of the Top 100 Importers for...
Sappio Departing APL, Schollaert Named Replacement Bob Sappio, a veteran of 29 years at APL, will leave the company as the container shipping line extends a...
Geosounder sets sail Dof Subsea parts ways with ageing exploration vessel in transaction with Canadian owner, brokers say.
Probo Koala taint spreads Sistership of former Trafigura-chartered vessel held by Indian authorities as mystery over ownership continues.
PRS returns to IACS New membership criteria at IACS allows Polish Register of Shipping to rejoin 11 years after it was expelled over its quality standards.
Wilson in Rio expansion Brazilian shipowner's logistics unit builds up domestic port dynasty with $79m takeover.
Stolt-Nielsen ponders bonds Chemical tanker owner contemplates wading into the market to raise $300m.
Mutiny hits top cruiseships Changing times below decks, the lack of Nordic cowboys and the problem of catching John Fredriksen's attention.
Owners let rip on LNG Gas features heavily in this week's New5 in Number3.
Unseated Eitzen OK Axel relaxed over forthcoming loss of chairmanship at Oslo-listed company in which he remains biggest shareholder.
Sammy Ofer remembered Read the official obituary of the shipping magnate and philanthropist as his family pledge the business empire he founded will continue unchanged.
Fame finally found Ofer The Israeli billionaire had begun to attract the global media's fascination with both wealth and controversy often accorded to shipping tycoons.
Shipping legend Ofer dead Israeli magnate Sammy Ofer found dead at Tel Aviv home today at the age of 89.
Divi cut sees PRGN downed UBS strips Michael Bodouroglou-led bulker owner of its buy rating on the back of cash conservation effort.
Maran plots LNG binge John Angelicoussis lining up potential eight ship order at Korean heavyweights Hyundai and Daewoo.
Kirk snaps up Blue Jade The Danish family behind the Lego empire is reported to have bought KLC MR at California auction.
CPG opens Ohio terminal ContainerPort Group has opened a new terminal in North Baltimore, about 3.5 miles from CSX's new Northwest Ohio intermodal rail terminal. This new terminal will specialize in domestic intermodal, international container and railroad-controlled dray...
UTi Worldwide profit lower, revenue climbs UTi Worldwide Inc. said it had net profit of $8.7 million, less net income attributable to non-controlling interests, in the quarter ended April 30, compared to $10.1 million in the same 2010 period. Revenue for the fiscal year first quarter was $...
Canada minister emphasizes trade building Canada under Prime Minister Stephen Harper remains committed to broadening the country's trading relationships, International Trade and Asia-Pacific Gateway Minister Ed Fast said Thursday. "International trade is, fundamentally, a kitchen-table is...
USDA considers raising imported cotton value The U.S. Department of Agriculture's Agricultural Marketing Service (AMS) has proposed amendments in 2011 to its Cotton Board rules and regulations by increasing the value assigned to imported cotton for the purpose of calculating supplemental ass...
JAL, American enhance cargo relations Japan Airlines and American Airlines have reached an agreement to jointly provide shippers with more routing choices, new destinations, and increased cargo capacity within their combined aircraft fleets. Both airlines cover about 300 destinations ...
Sammy Ofer, dead at 89 Israeli shipping magnate Sammy Ofer, 89, was found dead Friday in his Tel Aviv apartment, news reports said. The Ofer Brothers Group owns and operates Israel's largest privately owned shipping enterprise, and through the holding company Israel Cor...
Sappio leaving APL Sappio APL said Thursday that Bob Sappio, a 29-year veteran of the company and head of the shipping line's Pan American Trades, will leave the container liner company Aug. 1 to remain in the San Francisco Bay area. Replacing Sappio in the transpaci...
NOL finalizes financing for 14 ships Neptune Orient Lines said Thursday in astatement filed with the Singapore Stock Exchangethat it has finalized a $1.1 billion loan agreement to finance 14 containerships. The funds will be used to finance: ' Ten 8,400-TEU ships ordered in 2010. ' T...
Consulting firm to publish North American ECA forecast The conclusions of the analysis will be published in a report, due out mid-June.
Bunker prices end week with mixed prices Crude futures settle lower after US unemployment rates rose.
Explosion at Chevron refinery kills four A fire broke out at the 220,000 barrel per day refinery after an explosion in a storage tank during maintenance.
Targeting CO2 with a surcharge on fuel Focus of the forum was on the introduction of a Ship Energy Efficiency Management Plan.
Power control white paper released 'Major fuel savings have been obtained on these vessels when the ships are operating in their green operation mode.'
Wärtsilä signs agreement to develop fuel cell products 'Solid oxide fuel cells have low emissions, yet they produce relatively large amounts of electricity for their size.'
INTERTANKO: 'No benefit' from taking MBM stance now Officials discuss shipping and GHG instruments and say focus now needs to be on progressing with technical measures at the IMO.
Prices mixed in the Middle East Deliveries were available for supply up to and including June 17 in Cape Town.
Prices soft in many European ports Good demand in Hamburg.
Bunker spill from new offshore operation pollutes Ukraine shoreline Incident from service competing with Ukrainian ports temporarily put stop to bunkering operations in Ilyichevsk.
Gazpromneft Marine Bunker aims for higher domestic sales Expansion of supply network on Russian waterways planned for 2011.
Asian bunker prices firming as week closes Demand sluggish across key Asian bunkering hubs on Friday.
Global Shippers' Forum opposes bunker levy Passing on carbon costs via a bunker levy 'not only removes shipowner accountability but will not reduce carbon emissions.'
Fuel oil volumes in Singapore continue fall Volume of fuel oil dipped 7.1% to 20.2 million barrels in the week ended June 2.
Texas firm wins BORCO's oil storage project Scope of work includes construction of 14 oil storage tanks.
HHI secures $600 million order for dual fuel LNG vessels Vessels to run on either fuel oil or natural gas, says Hyundai Heavy Industries.
Off-spec fuel sold to Hong Kong Sun traced to Singapore storage tank Orion Holdings claiming $300,000 in connection with the dispute.
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
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
