Lion Group cites Viet partner for project's failure Malaysian conglomerate The Lion Group has blamed problems at Vietnam's scandal-hit shipbuilder Vinashin for the failure of a multi-billion-dollar joint venture.
Arcus makes takeover bid for Forth Ports Forth Ports has received a takeover approach valuing the operator at '745 million (S$1.54 billion) from its largest shareholder, Arcus European Infrastructure Fund, and has given Arcus access to its books.
Libya oil exports seen falling as crisis worsens Libyan crude oil shipments are set to slide in the coming days as mounting violence, falling oil output, the impact of sanctions and rising freight costs take their toll on Africa's third-largest producer.
Essar extends biggest rally in 7 mths on plans to split
New production facility for A350 XWB components opened in China The Harbin Hafei Airbus Composite Manufacturing Centre, a joint venture between Airbus and its Chinese partners, was inaugurated in Harbin (China) this week (week 9). The new facil...
Malaysia Airports to manage Chinese airport Malaysia Airports Consultancy Services Sdn Bhd (MACS), a subsidiary of the international airport operator Malaysia Airports, has signed a joint cooperation agreement (JCA) wit...
Boeing B777 freighter completes first two years of service The Boeing B777 freighter has earned the reputation as the work horse of the industry in its first two years of service. The equipment hauls everything from giant panda bears to hi...
Harwich International Port signs new wind deal Harwich International Port (UK) recently landed new contract with Aarsleff Bilfinger Berger Joint Venture (ABJV). Under the terms of the deal Harwich will act as ABJV's UK ins...
Lynden Transport expands service to/from Oklahoma and North Dakota The US- based service provider Lynden Transport is offering a new scheduled less-than-truckload (LTL) service to Oklahoma and North Dakota (both USA), in response to customer and i...
Australia: lower truck speed limit on south-eastern freeway The state of South Australia is reducing the maximum speed for trucks with five or more axles from 100 km/h to 60 km/h along the south-eastern freeway. The limit is being imposed i...
First PowerHaul locomotive in Turkey GE Transportation and the Turkish company Tulomsas recently celebrated the roll-out of the first GE PowerHaul locomotive, which was assembled in Turkey from components produced at ...
Kombiverkehr: Austria traffic booming Kombiverkehr, an intermodal service provider based in Frankfurt (German), and its partner Intercontainer Austria are launching new connections to/from Austria. From today (7 March)...
TUI sells Hapag-Lloyd shares to consortium The supervisory board of the German tourism corporation TUI recently agreed to sell its Hapag-Lloyd shares to a subsidiary of the Hamburg (Germany)-based Albert Ballin co...
Hellmann East Europe granted customs representative licence for Russia The German logistics service provider Hellmann East Europe has been granted a customs representative licence for Russia. To date this important permit was known as a customs b...
APM Terminals to retrofit and electrify worldwide RTG fleet The port operator APM Terminals has embarked on a programme to convert and retrofit more than 400 diesel-powered rubber-tyred gantry cranes (RTGs) in use throughout the APM Te...
In Time Express Logistik sees turnover surge The German express courier service provider In Time Express Logistik boosted its turnover in fiscal 2010 to EUR 104.9 million, a 59.5% increase compared to the EUR 65.8 millio...
AMB and Allianz Real Estate form a new joint venture Property developer AMB Property Corp and Allianz Real Estate have formed a Luxembourg-based joint venture with the aim of acquiring, owning and operating logistics real estate tied...
CC Tung breaks ranks over box sector deregulation Demise of conference system led to information vacuum that heightened extreme rate volatility in the Asia-Europe trades, says OOIL chairman
Private investment lured by LPG opportunities Steady rate climb draws new interest in sector
China pays out for bulk carrier trio Chinese breakers nudged Indian rivals aside to purchase three large bulk carriers at strong rates last week
Sale of aframax pair highlights new low benchmark value Greek tanker owner Minerva Marine is understood to have bought two ice-class aframax tankers for $42.3m each, according to broker reports
Court decision to ease tonnage glut Overcapacity could be substantially reduced with the reopening of Bangladesh's shipbreaking yards
Ready, steady, scrap: Bangladesh reopens yards Demolition rates set to rise as country's breakers look to begin importing vessels
Rocketing bunker fuel prices could yet see 'blood on the streets' Tanker owners are being forced into adopting alternative strategies such as super slow steaming as rising fuel prices continue to pound bottom lines
Uncertainty is haunting shipping Uncertainty about which direction the price of oil is moving continues to haunt shipping
TCC presses ahead with growth plans despite $7m loss To continue expanding services as trade outlook looks bullish
US box imports set to rise 11% in March Estimates come amid warning of impact of rising oil prices on freight rates
Hutchison kicks of Singapore listing of port assets Biggest IPO in Singapore's history expected to raise close to $6bn
Arcus in $1.2bn bid for Forth Ports Takeover approach by major shareholder puts value of ports group at around '746m
Keppel AmFels wins $195m rig order To deliver jackup rig to Mexico's Perforadora Central in first quarter of 2013
Higher freight rates lift NOL's income Average revenue per feu up 10% during first six weeks of 2011
NSCSA orders four multi-purpose ships at Hyundai Mipo Total contract could be worth around $410m, including options for two more
Beluga seeks rate cuts for chartered-in ships Oaktree claims heavylift specialist could go bankrupt otherwise
The return of Bangladesh The decision to reopen Bangladesh's ship recycling business is positive for both the country and international shipping
Inmarsat shipping revenues remain flat Increased competition and switch from voice calls to e-mails offsets gains from sales of fleetbroadband terminals
Forth Ports bid So long as ports continue to operate efficiently, shipowners probably could not care less whether they are owned by a city council, the state or anyone else
Vale's VLOC order hit by delivery delays Delivery of first tranche of 12 of some 36 super-sized ore carriers behind schedule
Stena charters Tallink ferries for new Scotland route Tallink announces closure of loss making Germany - Finland route
ICTSI pays $21m for 51% stake in Rijeka box terminal Philippines port operator wins 30-year deal to operate Croatia port
DHT seeks $100m from Norwegian bond market Move will boost war chest for crude oil tanker buys
Box forecast variations hit Pacific trade Preparations to deploy vessels during forthcoming peak season thrown into confusion
Noble takes option for drillship at HHI Noble orders three vessels in year to date at South Korean
MOL tanker attacked by pirates off Oman US and Turkish naval forces intervene to free vessel
The Week Ahead Tanker rates on rise as Libya concerns grow
Oldendorff sticks to its guns on K Daphne bunkers Says 'all options under consideration' as capesize fails to arrive in Virginia
Battle begins to renew transpacific contracts Box lines and shippers come face-to-face to try and agree on freight rates
Capesize rates push up BDI CAPESIZE rates rocketed 14.5% today to $6,548 a day in the biggest jump since 10 February
Governor offers Miami deepening funds FLORIDA's governor has promised to use state money to fund a $75M federal shortfall in the budget for deepening the Port of Miami to 15.2m (50ft), Fairplay was told today
Goldman warns of gas cuts GOLDMAN Sachs has warned that global gas and LNG supplies could be slashed by up to 3% if production cuts in Libya are replicated in nearby countries
Oldendorff attachment bid fails A NEW York bankruptcy judge has rejected an emergency attempt by Oldendorff to attach the bunkers of Korea Line's Capesize K Daphne, Fairplay has confirmed
IM Skaugen raises $63M in bond sale NORWEGIAN gas carrier and lighterage tanker operator IM Skaugen has raised 350M kroner ($63M) in an issue of two-year bonds
ICTSI bags Croatian contract ICTSI has won a 30-year contract to manage, operate and develop a box terminal in the Croatian port of Rijeka
New bid made for Forth THE UK'S Forth Ports has confirmed market rumours of a takeover offer from Arcus European Infrastructure Fund 1 LP
ICTSI profits jump PHILIPPINE port operator ICTSI today reported a 79% year-on-year increase in net income to $98.3M last year
Brokers doubt rate rise hopes BROKERS in Shanghai have told Fairplay that they doubt that trans-Pacific box carriers will succeed in their latest attempt to raise rates
Hutchison talks up ports IPO HUTCHISON Whampoa said today it expects an overwhelming response to the listing of its ports assets, despite other shipping trusts performing poorly on the Singapore Exchange
Seafarer disappears off Scotland THE SEARCH for a seafarer missing from a Finnish product tanker in the Scottish North Sea has been called off, the MCA told Fairplay today
PIL boss calls for EXIM bank rethink PACIFIC International Lines managing director Teo Siong Seng told Singapore's Parliament today that he is disappointed the country has decided against opening an export-import bank
China reportedly doubles Greek fund CHINA will double the size of a fund offering cheap loans to crisis-ridden Greek shipowners to about $10Bn, Greece's maritime affairs minister has reportedly revealed
Passenger saw disaster ferry 'swaying' A PASSENGER who was on board ferry Princess Ashika when it sank in 2009 has described his ordeal in a Tongan court
China belt-tightening fears played down INDUSTRY figures told Fairplay today that China's industrialisation plans mean its belt-tightening measures should only have a limited impact on shipping.
Rates merry go round Cargo volumes may look healthy as the end of Q1 11 approaches but it seems the containers moving are doing so at much lower prices than the year before and this at a time when the costs for moving them are shooting up
Ocean carriers receive warning from BoxTradeIntelligence
Suez tolls unchanged again The Suez Canal Authority has frozen tariff levels for transiting the canal for the third year in a row. The canal saw vessels transits increase 4.4 percent to 17,993 vessels in 2010, while tonnage passing through the waterway increased 15.2 percent...
ICTSI seals stake in Croatian terminal The Philippines-based terminal operator International Container Terminal Services, Inc. said it has acquired a 51 percent stake in a Croatian container terminal in the country's largest port as part of a 30-year concession deal. ICTSI has partnered...
Worker strike at Suez Canal Administrative workers with the Suez Canal Authority protested over the weekend over what they said was a lack of promotions, according to international news outlets. The workers threatened to extend the protests -- including hunger strikes -- int...
Weiss Röhlig starts Taiwan/Prague LCL service Freight forwarder Weiss R'hlig has started a weekly consolidation service between Taiwan and Prague. "Our advantage is that Weiss Röhlig has scheduled trucking and rail services from all major European ports into Eastern Europe supported on the gro...
CBP explains personnel changes Replacing Daniel Baldwin as assistant commissioner for international trade and moving him to head supply chain security programs "will restore needed trade policy experience to the Office of Field Operations and add operational expertise to the Of...
DHL to work with troubled airline parts company DHL Supply Chain said last week it is attempting to help a U.K. parts support company for the airline industry out of bankruptcy by developing a "track and consolidation service" that will aggregate millions of parts around the globe into a single...
Japanese tanker recaptured from pirates A U.S. Navy frigate rescued a hijacked Japanese tanker and captured the Somali pirates on Saturday, the U.S. Navy said. TheGuanabara,operated by MOL, reported it was under attack Friday about 328 nautical miles southeast of Oman. Special forces fro...
Grand Alliance adds Vietnam to Loop D The Grand Alliance has resumed weekly sailings of its Loop D Asia/Europe service, according to a notice from member Hapag-Lloyd. Alliance members Hapag-Lloyd, OOCL and NYK Line in Octobermade the service a biweekly loop through the end of Februaryt...
SynchroNet, Canadian 3PL team on box interchanges SynchoNet Intermodal Services has partnered with SNX Advance Logistics to support its Web-based virtual container-yard product in the Canadian market. SynchroNet and its sister company SynchroNet Marine provide box interchange services for ocean, r...
Unrest reaches canal Worker strike at Suez Canal Administrative workers with the Suez Canal Authority protested over the weekend over what they said was a lack of promotions, according to international news outlets. The workers threatened to extend the protests -- incl...
Stena charters Tallink vessels for Belfast run Stena Line has chartered Tallink's two sister ferries the Superfast VII and the Superfast VIII for the Belfast'Stranraer run. The vessels will enter into service in autumn 2011. "The
Mols-Linien deep in red after horrible year Mols-Linien A/S left 2010 with a huge deficit of DKK 77.5 million after a bad year with declining numbers of passengers and cars. Furthermore, Mols-Linien is
Polarcus signs up for Celtic Sea project Dubai-based, Oslo-listed seismic vessel operator Polarcus has signed a contract with Providence Resources PLC for a 3D seismic project in the Celtic Sea, off Ireland. The survey will
Libyan crisis drives up low-sulphur premium Price differential for low-sulphur bunker product is widening.
Trading team development for Turkish supplier New bunker trader is the company's representative in Greece.
IFO prices stable in Fujairah In Cape Town, deliveries available up to and including March 21.
Bunker prices firm Congestion at a few loading facilities in Rotterdam.
Tanker operator suffering as unrest drives up bunker prices Nordic Tankers says firming bunker prices have coincided with 'rock bottom' rates.
Bunkering firm becomes part of environmental initiative Canadian company which lists bunkering services among its activities joins the Green Marine program.
Singapore terminal operator repeats interest in LNG bunkering LNG terminal is '30% complete'.
New Zealand port welcomes switch to low-sulphur fuel Auckland Council wants other shipping lines to follow Maersk Line's lead.
Asian bunker prices lack direction Demand mixed on Monday at key Asian bunker ports, traders say.
BORCO facility to undergo $200-400 million expansion Project aims to install 'flexible storage capacity' on site, says Buckeye spokeswoman.
Chinese bank joins group financing Vopak ICBC and 14 others to provide the terminal operator with $1.6 billion senior unsecured facility.
Sinopec Zhoushan to start MGO deliveries next month Plans to start MGO deliveries at Tianjin, Zhangzhou and Huangpu ports in China, says company source.
WFS quarterly cash dividend stable Q4 dividend, which reflects its 'two-for-one' stock spilt program, unchanged even after it reported 'record earnings' for last year.
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