Clarkson cuts container shipping forecasts CLARKSON plc, the world's biggest shipbroker, cut forecasts for growth this year in shipping of containers, predicting the weakest increase on the Asia-to-US trade route.
VLCC earnings rise as demand grows EARNINGS for the largest crude carriers hauling two million barrels of Persian Gulf oil to Asia turned positive as rising demand shrank a glut of ships.
Dry-bulk capesize rents seen stabilising RENTS for capesize vessels that haul dry-bulk commodities may be set to stabilise after the biggest drop in 15 months on the Australia-to-China iron-ore route, according to Braemar Shipping Services plc.
Ocean Knight Shipping handles Japan-China car project Ocean Knight Shipping, member to the Worldwide Project Consortium WWPC in China, recently coordinated the transportation of 5,978 cbm of compressed used cars from the port of Imari...
Panalpina hit by strong Swiss franc Panalpina, a logistics company based in Basel (Switzerland), saw a fall in sales and profits in Q3/2011. Sales dropped from CHF 1.87 to 1.57 billion. Gross profits came in at CHF 3...
Logwin opens office in Hyderabad The global logistics services provider Logwin is expanding in India by opening a new office in the metropolis of Hyderabad in October. Logwin now has nine centres in India, in Beng...
New directors at DB Schenker Logistics After nearly 40 years of committed management work Michael Korn, deputy chairman of the board of Schenker Deutschland, retired at the end of October. He was in charge of air and se...
Baltic Container Terminal investing in expansion The Gdynia Baltic Container Terminal (BCT) is planning a large-scale storage and rail transport capacity expansion to 2015. It will be supported by the EU, which will contribute EU...
Union Pacific Railroad investing in Iowa Union Pacific Railroad, which links 23 states in the west of the USA, will continue to improve the transport infrastructure in Iowa by investing USD 6.6 million in a line that runs...
First B747-8F for Cathay Pacific Cargo After serving launch customer Cargolux (see ITJ Daily of 14 October), Boeing has now delivered a B747-8F to Hong Kong-based Cathay Pacific Airways, making the latter the second air...
Kunzendorf Berlin taking over König Frankfurt The Berlin-based Kunzendorf Group is taking over August L. König in Frankfurt. Both companies are founding members of the general cargo alliance 24plus logistics network and have c...
APL says its reefer container fleet is safe The global container shipping line APL has declared its refrigerated container fleet to be safe and announced new precautions to prevent equipment mishaps. The declaration followed...
Amerijet chooses OAG Cargo Amerijet, a Miami-based Boeing B767-200 and B727-200 freighter operator, is the latest airline to use OAG Cargo's online tools for the airfreight industry, now used by nearly 34,00...
Ural Airlines to launch Guangzhou links The Russian carrier Ural Airlines is expanding services to China with the launch of two new links to Guangzhou. The Yekaterinburg-based airline will offer a two-weekly Irkutsk-Guan...
NTR to join Green Cargo marketing organisation Green Cargo, a transport and logistics company owned by the Swedish state, plans to integrate its railfreight forwarding agent NTR and create a common marketing and sales organisat...
Road works between Athens and Thessaloniki Major road works are being conducted on the Athens-Thessaloniki main road, which has been closed due to a landslide. This will result in major disruption until December. The road w...
Safmarine blames poor service as it drops Tanger Med calls Calls to be switched to Algeciras and Malaga
Seven billion reasons to welcome excess tonnage The coming rise in the world's population to enormous levels has important implications for shipping
Drowned out by the screaming greens Environmentalists are too quick to criticise without giving the industry credit for its efforts to clean up its act
Inttra boosts box benchmarking facility Lines and shippers get mutual performance-checking tool
North Europe ports to stay ahead of southern rivals Study finds infrastructure and logistics issues will prevent major shift in traffic
Gdansk in bid to lure direct Asia calls Polish port claims up to 28% saving on box shipping cost over Rotterdam and Hamburg
Suezmax market finds a floor Potential upside for West Africa-US spot rates but brokers doubt if owners will see it pan out
Transpacific box rates climb as Asia-Europe trades slide Prices creep up for China-US west coast prices in contrast to other major trade lanes
Golar and Höegh go head to head on floating regas project Conversions to reduce LNG fleet and potentially drive rates even higher
Green Reefers and Seatrade sign pact to quit Hamburg Reefer Pool Companies will operate combined fleet of 48 reefers in new pool from January
Bonheur third-quarter gains halved Only one division posts increase in profits
That sinking feeling Declining asset values are a worrying sign for box lines
Seacube raises $250m to expand box fleet Wholly owned subsidiary issues 4.94% fixed rate secured notes rated 'A' by S&P
Textainer revenues surge 45% Fleet expansion and higher daily rental rates help container lessor to $109.5m in third quarter
Monsoon dries up Philippine nickel ore trade Instability of wet cargoes mean supramax rates decline further in Pacific
Insurance-backed private navy to launch next year Despite failing to get international backing, private service will launch in first quarter
Chinese banks' slow approvals put brakes on vessel orders Lack of shipping specialists and wide office network hamper appraisals
Teething troubles with big China Take-up of dedicated Chinese funding slowed by Greek owners pulling back on newbuildings
Turkish ports urged to prepare for a trend towards bigger boxships Over 260 container vessels of 10,000 teu or greater will have been added to the global container fleet by 2014
Capesize owners await rebound in Chinese mills' iron ore demand Fall in charter rates has prompted some vessels in Asia to ballast into the Atlantic
Yang Ming could join the ultra-large club Chief executive of Taiwanese boxline says he will propose buying 16,000 teu vessels to company board
Armed guards are cutting corners with cover Shipowners could face liability problems if they contract under-insured operators
Trailer Bridge buys two more weeks in fight for survival Forbearance agreement with banks costs Jones Act company $20,000
Action on academies Brussels and the Philippines must move faster to weed out poor seafarer training
Jaya profits dive as orders dry up Singapore-listed offshore specialist scores higher level of vessel utilisation
M&A activity to shift from passenger sector to logistics Consolidation to fuel future deals, says PwC
Cosco bulker arrested Song Shan Hai seized in Singapore over contractual despite
Brussels divided on Philippines' seafarer training European Commission decision on certification now expected in early 2012
FMC invites responses to inquiry into shift of cargoes away from US Commission soliciting views and information concerning factors concerning diversion of trade to rival hubs north and south of the US border
DryShips completes OceanFreight takeover Merger goes ahead despite small shareholder's blocking bid but gets mixed reviews
'El-Lemon' squeezed A NEW ZEALAND ferry has suspended passenger services over the weekend following repeated engine failures
Shares flatline for COSCO builder arm SHARES of Cosco Corp (Singapore) flatlined today after analysts urged investors to dump them
Hamburg Reefer Pool ends NORWAY'S Green Reefers and Seatrade have ended the Hamburg Reefer Pool to start a new agreement they hope will be more competitive
Profits slip for Croatians TWO LEADING Croatian shipping companies have reported slips in profits for the first nine months of 2011, from results over the same period of last year
SGX suspends MF Global MF GLOBAL Singapore was today suspended as a Singapore Exchange member
Trailer Bridge buys time NASDAQ-listed Trailer Bridge has again dodged bankruptcy after lenders agreed to forebear on accelerating defaulted debt until 15 November
SMM's 3Q profits drop 25% SINGAPORE rig builder Sembcorp Marine has posted a 25% year on year drop in 3Q2011 profits
Yards to own VLCCs? THE VLCC sector's prolonged weakness could turn shipyards into shipowners, according to a shipping analyst
Weather slows Rena salvage THE REMOVAL of oil from the stranded box ship Rena has slowed after equipment was damaged in rough weather this week, Maritime New Zealand said today
Ferry passenger dies escaping Red Sea fire RESCUERS saved more than 1,200 passengers from a burning ferry in the Red Sea, but a Jordanian passenger was killed after jumping into the sea to evade the flames
Hanjin's losses ease SOUTH Korea's Hanjin Shipping today posted slightly improved net losses of 85.9Bn won ($77.3M) for 3Q2011
Little cheer for VLGCs HOPES dimmed today that the VLGC sector will perk up soon east of Suez, as traders prepare for the Christmas-New Year break
VLCCs return to doldrums VLCC RATES were back today at unprofitable levels, as a rally in the east-of-Suez market evaporated
German exit warned without aid SMALL and medium-sized German shipowners have warned of a mass exodus from the industry without government assistance in loan refinancing
HAVI's Shortell Talks High Standards in Fast Food Safety in China (Video) Troy Shortell, senior vice president of HAVI Logistics in Shanghai, discusses how his company maintains a high standard of food...
STB Defers Action on Shipper Rail Access Caught between pressure from captive shippers and strong opposition from railroads, industry regulators chose Friday to delay making any decision...
Short Sea Operator AFL Seeks Exemption to Use Foreign Ships American Feeder Lines is seeking a temporary exemption of the Jones Act to allow foreign-built ships into U.S. domestic maritime...
L-3 Buys Provider of Cargo Radiation Detection L-3 Communications' acquisition of a provider of cargo radiation detection systems gives the security giant new screening technologies, including a...
Transportation Jobs Rise 2 Percent in October Transportation employment increased more than 2 percent year-over-year in October, with rail employment up 3.8 percent and trucking up 2.9...
Cosco Busan Operator May Have Broken Probation The operator of the Cosco Busan, the vessel that struck the San Francisco Bay Bridge in November 2007, may be...
FMC Warns Carrier Groups on 'Outright Defiance' Federal Maritime Commission Chairman Richard Lidinksy says the container shipping industry's trans-Pacific discussion groups are showing "near outright defiance" of a commission's oversight...
Tampa Port Authority's Elliott on Partnerships With Mobile, Houston (Video) Wade Elliott, senior director of marketing at the Tampa Port Authority, discusses working in conjunction with the ports of Houston...
CMA CGM Transfers Half of Malta Terminal to Yildirim CMA CGM transferred 50 percent of its shares in the Malta Freeport transhipment hub to the Yildirim Group of Turkey,...
Green Reefers, Seatrade Team Up to Fight Competition Green Reefers and Seatrade are pooling their refrigerated cargo ship fleets to combat fiercer competition from ocean container carriers. ...
Developer Sought for Staten Island Waterfront Site The New York City Economic Development Corporation is seeking a developer to buy or lease a waterfront site on the...
Hanjin Container Unit Loses $1.5 Million on Higher Revenue Hanjin Shipping reported a third-quarter operating loss of $1.5 million on its container operations as sliding freight rates and higher...
CP Investor Says He's Not Looking to Sell Railroad Activist hedge fund investor William Ackman's plan for boosting the value of his stake in Canadian Pacific Railway does not...
YRC Worldwide Names Pierson CFO YRC Worldwide gave Jamie G. Pierson the job he's been doing effectively since August, naming him executive vice president and...
How Long Can The Rally Last? Somewhere, somehow, the intermodal market missed the message that the U.S. economy might be stumbling back into recession. Perhaps the...
Rails Pushed to Clean Up Their Air A lawsuit filed by the Natural Resources Defense Council in California may have national implications for all railroads. ...
The New Intermodal Heartland The center of intermodal growth is shifting toward the center of the U.S., as U.S. manufacturing creates more shorter-haul, domestic...
1 Driver + 1 Day = Intermodal As more truckloads are converted to intermodal containerloads, trucking companies aren't rushing to cut rates to keep that freight on...
YRC Worldwide Loss Deepens to $120 Million The $500 million financial restructuring completed in July may save YRC Worldwide in the long-term, but any gain came with...
Destocked Up We're not sure what the hot toy for the holiday season will be this year, but retailers have their favorite:...
Changing China It's often suggested that the post-recession world is a lot different from the world before the near-collapse of major world...
Who's Liable When a Broker Goes Broke? Q: I had a woman ask me if she's liable if she paid a truckload broker and they didn't forward...
Nippon Express Doubles Profit on Flat Revenue Nippon Express Co. saw profit surge 133.9 percent to $128 million in the first half of fiscal 2011, which started...
Shanghai Rate Index Falls 1.4 Percent to Record Low The Shanghai Container Freight Index for Nov. 4 fell 1.4 percent from the week before to a record low, as...
British Airways, Iberia Cargo Revenue Flat International Airlines Group's cargo revenue was flat at $395 million in the third quarter, as the Anglo-Spanish carrier's traffic stalled...
Is Diamond Harbour getting shaped? The Indian Kolkata Port Trust (KoPT) is evaluating the proposals it has received at the request for qualification stage for the 'Diamond Harbour' (DH) container ...
Georgia ports see box volumes climb despite 'challenging economic times' The Georgia terminals of Savannah and Brunswick have seen their container volumes grow by 3.7% for its first quarter of FY2012 (July-September) reaching 770,190TEU ...
NAFTA trade roars ahead The latest data published by the US Department of Transport's (DOT) statistics bureau for trade using surface transportation between the US and its North American ...
FMC Chairman warns TSA/WTSA over 'shockingly tardy' transcript submission Following the news that the Transpacific Stabilization Agreement (TSA) and Westbound Transpacific Stabilization Agreement (WTSA) have been extremely late in handing ...
Rena: Cargo owners still in limbo as salvage works progress
Pirates cash in another ship Somali pirates now hold just nine ships in their hijacked fleet following the ransom-induced release of an Algerian bulker yesterday. At the time the vessel was ...
Downside risks in the ascendancy There are increased risks that the container shipping industry is heading for another downturn and even lower freight rates.Addressing the 4th Annual Med Freight ...
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.
Vietnam reefers face West Coast quarantine Refrigerated containers that either passed through or originated in any Vietnamese port are being identified upon arrival at U.S. West Coast ports. Those that were worked on at Kat Lai will be isolated for special handling.
Transpacific graveyard
Lloyds Register cautions against mixing refrigerants
Bahamas viewing North American ECA as commercial opportunity With the Bahamas lying outside of the ECA area, 'the Grand Bahama option for transhipment will likely become even more attractive.'
Bunker prices end week mostly firm Crude futures increased as unemployment in the US declined.
IFO prices firm double digits in Fujairah Suppliers quoting in the Durban market.
Rena environmental monitoring could take 'years' A recovery plan being developed by authorities involved a one year time frame.
Shipping industry heading for credit squeeze Loan conditions have tightened and the price of credit has gone up, says Nordea analyst.
Rotterdam IFO prices at three-month high Player 'astounded' at price levels.
Houston terminal company taken over HFOTCO's assets are strategically located on a 312-acre footprint at the widest point of the Houston Ship Channel, one of the largest trading centres for residual fuel oil and crude oil in the world.
Scottish shipbuilders awarded contract for 'world's first' hybrid ferries Project 'demonstrates the vast economic potential of developing green technology.'
Rotterdam reports recovery in Q3 oil product throughput Low VLCC rates and arbitrage trading boosting oil product throughput in European hub.
Questions persist around scrubbing emissions Near term ECA argument for scrubbing technology becoming clearer, but doubts also exist about its place in longer term global developments.
Asian bunker prices firming as week closes Demand muted at key Asian hubs on Friday due to rise in bunker prices.
Singapore Exchange suspends MF Global Singapore MF Global says it is working towards closing or transferring all open positions on overseas exchanges.
Coffer dam around Rena's submerged tank 'unusable' Salvage team to focus efforts on hot tapping submerged fuel tank.
Singapore fuel oil stocks at five-week high But fuel oil inventories remain at below weekly average volumes.
South Korean bunker inventories slightly down Avails will be 'tight' in November, local traders say.
Bunkers boost Sri Lankan group's earnings John Keells's transportation business unit post 38% increase in profit.
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