Maersk, Dubai to invest in Qingdao Port's expansion Denmark's AP Moeller-Maersk and other foreign investors will invest in Qingdao Port Group's US$4.6 billion expansion scheme in the next five years, a senior Chinese executive said on Monday.
NYK may cut sailing speed further to trim fuel costs Nippon Yusen KK, Asia's largest listed shipping line, may slow the speed of its container fleet by a further 10 per cent to pare fuel usage after bunker prices jumped to their highest in more than two years.
Aframax tanker rates ease, with Libya in focus Crude oil tanker earnings on the key Mediterranean route eased on Monday as vessel availability grew, compounded by violence in Libya leading to closure of oil ports.
Strait Talk
It's still all about trade cycles and political risk MY ATTENTION has been drawn to a recent blog by well-known shipping industry personality Clay Maitland. In a typically outspoken piece, the open register veteran - currently managing partner of the firm running the Marshall Islands register - warns of the risks facing the global shipping industry.
Maersk, Dubai to invest in Qingdao Port's expansion Denmark's AP Moeller-Maersk and other foreign investors will invest in Qingdao Port Group's US$4.6 billion expansion scheme in the next five years, a senior Chinese executive said on Monday.
NYK may cut sailing speed further to trim fuel costs Nippon Yusen KK, Asia's largest listed shipping line, may slow the speed of its container fleet by a further 10 per cent to pare fuel usage after bunker prices jumped to their highest in more than two years.
Aframax tanker rates ease, with Libya in focus Crude oil tanker earnings on the key Mediterranean route eased on Monday as vessel availability grew, compounded by violence in Libya leading to closure of oil ports.
Strait Talk
It's still all about trade cycles and political risk MY ATTENTION has been drawn to a recent blog by well-known shipping industry personality Clay Maitland. In a typically outspoken piece, the open register veteran - currently managing partner of the firm running the Marshall Islands register - warns of the risks facing the global shipping industry.
Open Skies between Japan and Malaysia Japan and Malaysia have concluded a revised bilateral deal which sees full open-skies, including Tokyo, by summer 2013. Restrictions for flights to/from Tokyo Narita will be remove...
Saudi Airlines Cargo -launch customer for OAG Cargo's new Route Mapper product Saudi Airlines Cargo has signed a contract to become the launch customer for OAG Cargo's new Route Mapper product. The application will help the airline's cargo customers perform a...
Watco and Kinder Morgan to haul crude oil by rail Watco Companies and Kinder Morgan Energy Partners have announced an agreement whereby Kinder Morgan and Watco will construct and operate several rail transload facilities in key ma...
Gebrüder Weiss launches new Europe product GW pro.line The Austrian transport and logistics service provider Gebrüder Weiss launched a new product called GW pro.line which offers new services in the field of general cargo and groupage ...
Record-size container freighter calling regularly at Marseille The port of Marseille-Fos (France) recently welcomed the largest container freighter in its history last week when the "MSC La Spezia" berthed there. The ship, ...
ALK-Abell' now delivering temperature-sensitive medication with Trans-o-Flex aus ALK-Abell' Arzneimittel GmbH, located in Wedel (Germany), has decided to introduce active temperature control for the transportation of all of its pharmaceuticals. In the future, t...
Hellmann Worldwide Logistics: new branch office in Nieder-Olm The German logistics service provider Hellmann Worldwide Logistics recently moved to a newly-leased forwarding facility in Nieder-Olm (Germany). The company is now oblige...
FedEx Express launches new B777F aircraft at London Stansted FedEx Express, a subsidiary of the US-based FedEx Corporation, and the world's largest express transportation company, recently unveiled a new Boeing B777F aircraft at its Lon...
Karcag Real Akkus, Real Akkus Nakliyat and Emiroglu plump for Mercedes-Benz The Turkish company Karcag Nak Ltd has purchased 30 Mercedez-Benz Axor 1840LS Euro 5 tractors, thus boosting the number of Mercedes-Benz tractors to 280. Real Akkus Na...
UIRR: new EU railway packet has to promote fair competition The International Union of combined road-rail transport companies (UIRR) has issued a media release that calls for transparent and fair competition when the EU's first railway pack...
Uwe Borowy to lecture at Berlin University Uwe Borowy, managing partner of the Hamburg (Germany)-based personnel and company consultancy firm Personalunion, is to become a lecturer at the Berlin School of Economics and...
Ports expansion key to Qatar USD 100 billion economic investment International shipping and cargo experts are set to gather in Abu Dhabi (UAE) on 28-30 March for the World Ports and Trade Summit 2011, in recognition of the vital role of the...
Tallink Silja charter ships on Germany-Finland route Baltic SF VII Ltd and Baltic SF VIII Ltd, two subsidiaries of the AS Tallink Grupp, have concluded charter agreements with Stena Line for two high-speed ferries ' the "Superfast VI...
Crude rates break $100,000 barrier Baltic Sea aframax route hits highest level since time charter earnings reported in May 2008
Soya cargoes push Atlantic panamaxes to two-month high Owners gain confidence as tonnage is absorbed
Korea Line tonnage threatens to reverse Pacific sentiment Korea Line-chartered tonnage re-entering the spot market may reverse the positive rates sentiment seen in the Pacific region over the last month,
Rising bunker prices push up cost of avoiding piracy risk zones High bunker prices will see post-panamax containerships face nearly a fourfold year-on-year rise in costs this year as they seek to avoid piracy attacks by sailing around the Cape of Good Hope instead of transiting the Suez Canal
Operator apathy a barrier to change Operator apathy is a key hurdle to the acceptance of liquefied natural gas as a ship fuel in the US
Seacor invests in dual-fuel research SEACOR Holdings is using a small corner of its vast empire as the laboratory where a prototype liquefied natural gas-powered ship might materialise
Why US shipowners shun cheap, clean LNG power Political apathy, confusion over the danger of explosions and the cost of new ships are blocking a change in fuel
Probe launched into Beluga finances Investigation begins into suspected falsifying of turnover figures
Gaddafi-linked tankers deployed to export Libyan oil Exclusive data shows GNMT tankers fill gap as shipowners shun calling country's oil terminals
The future of KG funds There is no sign of any rapid return of traditional KG finance in the container markets to its former heights
Antitrust anomaly It is difficult sometimes not to jump to the conclusion that antitrust legislation has actually been a massive conspiracy on the part of the legal profession to provide itself with endless work
Libya tanker rates set to crash Peak appeared to have reached and rates set to tumble with cargoes now in short supply
Polish seafarers launch lawsuit against Denmark government Action over legality of paying lower salaries to non-Danish European nationals on Danish national ships
Global Ship Lease slumps to $4m loss in 2010 Hit by $17.1m impairment charge and a $15.3m loss on non-cash interest rate derivatives
Capital Product secures fresh Petrobras charter Rate higher than what its affiliate had been paying for the Axios over the last year
Hapag-Lloyd and RCL to launch new joint service Weekly service between Indian subcontinent and northeast Asia
Box ratio set to get worse if demand rises Box makers ability to respond to strong recovery key to preventing anticipated equipment shortages
Unifeeder bolsters Europe-UK link To add fourth service between Polish and UK east coast ports
Denmark to propose changes to crewing laws To propose legislation changes that will remove need to use European masters on Denmark-flagged ships
China Rongsheng new orders top $2bn Profits and revenues up 33% over 2009
Mainfreight makes $153m swoop for Wim Bosman New Zealand logistics operator to bolster European presence with buy
Iridium operating income hits $415m in 2010 Up from $134m in previous year as subscribers rise
Singapore shelves export-import bank plan Move slammed by SSA who say bank will help boost booming rig building sector
Winds of change blow through P&I Brussels has called once again to examine the industry's practices as the clubs provide a mixed bag of results after this year's renewals period
Private equity taps Rickmers vet CONNECTICUT startup Soundview Maritime confirmed today that it has hired former Rickmers exec Dr. Moritz Mittelbach as strategic advisor for its ongoing acquisition programme
Hapag, RCL launch intra-Asia service GERMAN container line Hapag-Lloyd has teamed up with Thailand's Regional Container Lines in an effort to take advantage of the growing intra-Asia market
Chinese ship released in US CHINESE heavy-load carrier Zhen Hua 24 has been freed from a month-long arrest by the Virginia Port Authority after signing a security agreement with the port and APMT
Capesize rates rise again CAPESIZE rates today staged their biggest jump in almost a month, extending their rise since the beginning of the month to 65%
US LNG exports face opposition CHENIERE's plan to export LNG from Louisiana's Sabine Pass terminal is being fought by US consumer and business groups
NYK mulls further slowing JAPAN'S NYK Line has reportedly indicated that it is considering slowing its box ships by a further 10% because of rising bunker prices
Saudi oil exports boost VLCC demand A RISE in Saudi Arabian oil exports has tightened the VLCC supply-demand balance, according to brokers
Further US box growth seen US BOX imports are expected to increase by 11% year on year to 1.19M teu in March, a sign that the nation's recovery is gaining momentum, according to retailers
Canada LNG project moves forward A MAJOR contract has been awarded for the construction of the first LNG export plant on Canada's West Coast
More ore planned for Port Hedland ANOTHER Pilbara iron ore miner is set to increase shipments from Western Australia after securing medium-term capacity at Port Hedland's new common-user terminal
Buoyant rates lift drybulk market EXTENDED gains for drybulk freight rates and news of Bangladesh's resumption of recycling have lifted the market's mood, according to analysts
New orders boost Rongsheng SHIPBUILDER China Rongsheng announced today that its net profits rose by a third year on year in 2010 to 1.7Bn yuan ($152M)
MMM to be delisted THE MALAYSIAN bourse will delist insolvent Malaysian Merchant Marine on 17 March after the company failed to submit a regularisation plan
Jiangsu Eastern explains costs surge CHINESE shipbuilder Jiangsu Eastern today defended its 118% year-on-year rise in expenditure last year after being quizzed by the Singapore Exchange
Child dies after crew flees A CHILD has reportedly died after dozens of passengers on a workboat were left clinging to the hull of a capsized workboat off PNG while the crew fled in the only lifeboat
Smith Electric Vehicles Raises $58 Million Electric truck maker Smith Electric Vehicles U.S. raised $58 million in a series of stock sales. The proceeds will help...
OPEC Countries Offset Libyan Shortages Oil prices eased slightly Tuesday, falling 56 cents to $104.88 per barrel on the New York Mercantile Exchange, as assurances...
Railcar Owners Take 12,457 Cars Out of Storage Railcar owners in the U.S., Canada and Mexico took 12,457 units out of storage in February, leaving the continent's idled...
GAO Calls for Improved Technology Security The Government Accountability Office is raising concerns about the security of goods with civilian and military applications through "deemed exports"...
ILWU Leader Pledges Productivity Gains in Portland Long Beach, Calif. ' The head of the longshore labor union in Portland, Ore., said Tuesday he will work in...
FMC Chairman Discusses Alternative Dispute Resolution (Video) FMC Chairman Richard A. Lidinsky Jr. discusses the agency's alternative dispute resolution program.
Indian Ports Volume Grew 1 Percent Cargo volume at major ports in India grew a mere 1.2 percent from April through February compared with a year...
Global Ship Lease Lost $4 Million in 2010 Global Ship Lease, the NYSE-listed container shipowner, slumped to a net loss of $4 million in 2010 from a $42.2...
Maersk to Cut Emissions in New Zealand Maersk Line is extending its program to cut sulfur emissions on its services to New Zealand. The Danish carrier...
Hapag-Lloyd, RCL to Launch Joint Intra-Asia Loop Hapag-Lloyd and Regional Container Lines plan to launch a new weekly joint service from China and South Korea to Sri...
Carriers Face Renewed Container Shortage Ocean carriers face a shortage of containers in the coming months as production of boxes lags growing cargo capacity, according...
OOIL's Tung Says Carriers Need Freedom to Talk Container shipping lines and shippers would benefit if carriers could share information in ways barred by the European Union, the...
Trans-Pacific Exports Grow but Rates Fall Shipping lines that carry U.S. exports to Asia face the paradox of declining freight rates even as cargo volume remains...
Prosecutors probe Beluga Niels Stolberg lands at the centre of fraud investigation surrounding German heavy-lift owner's balance sheet.
Canaccord taps Burk Ousted Oppenheimer & Co analyst sheds free agent status as Wall Street investment bank eyes shipping sector.
More for Marinakis tanker Capital Product Partners' vessel picks up a pay rise as it lands one-year contract with Petrobras.
Denmark arming ships Government to take a more "open approach" to security on vessels off Somalia as country unveils new four-year piracy plan.
Private-equity targets 20 Rickmers veteran Moritz Mittelbach holds the helm as new containership alliance plots acquisitions with fuel from US firms.
Russian ship hits the beach Dvina crew unharmed, but salvage hampered by bad weather on Turkish coast near Karabiga.
Saker not Eagle's New York-listed owner distances itself from a supramax newbuilding sold to a Turkish owner.
Marco buys from chairman Singapore-listed offshore group lays down more than $12m to buy stake in a shipowning company controlled by boss Lee Wan Tang.
Axed box buys bash GSL Impairment over quashed ship purchase deal and derivatives loss send Ian Webber-led owner into red.
Van Oord digs down under Dutch dredger wins share of $262m deepening work for new Australian LNG port.
Party past its peak RBS says 2010 was as good as it will get for container shipping as it kicks off AP Moller coverage with a buy tag.
Master seized off Benin Failed attempt by pirates to steal cargo from Turkish tanker off West Africa leads to safe release of two crew.
Essar joins capesize crush Indian owner picks up close to $10m following the scrapping of its oldest bulker.
Samudera adds another Singapore owner snaps up second chartered-in containership in two months.
Back with a bang Former number one scrap nation welcomed back with open arms following lifting of ban.
Hapag teams with RCL German and Thai owners get together for service between China, Korea and Indian sub-continent.
Three held over coke Cruiseship crewmen nabbed in Cayman Islands with 2kg of cocaine worth $180,000.
Tung targets newbuilds OOIL boss says an order for 13,000-teu series is close after failing in takeover efforts.
Taibo heads Antares' corporate development Antares Shipmanagement S.A. has appointed Henry Taibo to executive vice president for corporate development, located in New York. Taibo will also oversee capital raising, joint ventures, managing and developing banking/capital markets relationships...
Heavy lift hover-barge ready for construction Hovertrans Solutions Pte. Ltd., a designer and manufacturer of hover-barges for heavy lift transport in shallow waters, will build a 50-ton payload hover-barge for charter in the third quarter. Hovertrans, a subsidiary of ST Marine, said the hover-...
Hapag-Lloyd, RCL to combine on Far East/India Evergreen Line said Monday it has started a weekly service between northern China and Indonesia. The HBI service operates with four vessels (three 1,700-TEU and one 2,000-TEU) with a rotation of Xingang, Dalian, Qingdao, Hong Kong, Shekou, Jakarta,...
MSC to raise U.S. export bunker fees Mediterranean Shipping Co. is raising its bunker surcharge on U.S. export shipments to the West Coast of South America and Central America, the line said Friday. The charges, effective April 4, will be $390 per TEU from all U.S. ports to all West C...
Box crunch likely to resurface Shippers could again face a shortage of containers this year as demand for Asian goods ramps up faster than Chinese container manufacturers can increase supply, according to a note from maritime news serviceAlphaliner.The ratio of box inventory-to-...
TUI sells 11% in Hapag-Lloyd to Berlin consortium TUI, the European tourism giant and partial owner of container line Hapag-Lloyd, said Monday it will sell an 11.3 percent stake in the line to its other significant shareholder. TUI, which has been seeking to divest itself of Hapag-Lloyd for more ...
Evergreen starts China/Indonesia service Evergreen Line said Monday it has started a weekly service between northern China and Indonesia. The HBI service operates with four vessels (three 1,700-TEU and one 2,000-TEU) with a rotation of Xingang, Dalian, Qingdao, Hong Kong, Shekou, Jakarta,...
DHS not spared from fiscal debate Homeland Secretary Janet Napolitano and Senate Democrats warned last week that Republican attempts to rollback agency budgets from requested levels this year will impact security and set the table for lower funding in fiscal year 2012. The House r...
Prosafe secures Talisman deal The Norwegian offshore company Prosafe has signed a letter of intent with British Talisman Energy for the accommodation and support rig Regalia. The rig will be operating at the Auk
North American ECA welcomed by European bunker players Predict already substantial LSFO sales will jump in 2012 and expect to benefit from well-established supply sources.
Fujairah bunker prices fall In Durban, deliveries available up to and including March 22.
Derelict barge leaking fuel US contractors say they have already run up costs of $5.3 million in work to safely dismantle the WW2 vintage vessel.
HSFO prices soften in Rotterdam and Hamburg Bad weather halts bunkering in Gibraltar.
UK Ministry of Defence awards multimillion dollar bunker contract Esso Petroleum Company to supply low-sulphur IFO at army-run port.
Maersk low-sulphur fuel switch will apply across New Zealand 'All nine ports of call in New Zealand and their respective coastal societies will benefit,' says shipping line.
NYK Line slowing vessels by 10% to cut fuel costs Company may cut sailing speeds by up to a further two knots, says company's head of investor relations.
US Navy renews efforts towards 'shift to biofuels' US Navy to use algae-based biofuel blend on some of its larger vessels by 2016.
Bunker prices down in Asian ports Mixed demand in key Asian bunker ports on Tuesday, traders say.
Indian supplier sees sales up 92% at Mumbai, JNPT ports Global Fuels & Lubricants sold about 25,000 mt of bunkers at Mumbai and JNPT in February.
US supplier welcomes sales and marketing manager Fernanda Silva joins Harbour-Plaza Consolidated.
Wärtsilä unveils upgraded, more fuel efficient engine Upgraded RT-flex68-D engine has 'highly competitive fuel consumption, says director at Wärtsilä.
South Korean March bunker volumes slightly up SK Energy ups bunker output this month, while other refiners keep output at last month's levels.
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