Baltex electronic trading likely to lure hedge funds The new freight derivatives trading screen from the Baltic Exchange, a 267-year-old bourse that sets global shipping prices, will attract hedge funds and expand the US$24 billion market, Citigroup Inc and Cargill Inc said.
No dry freight upturn seen until 2014 A major upturn in dry bulk shipping rates is not expected before the end of 2013 as the freight market will continue to struggle with mounting fleet growth, leading shipbroker Fearnleys said here on Tuesday.
Hyundai Heavy shares fall on possible US$2.4b Hynix bid Hyundai Heavy Industries Co, the world's biggest shipyard, fell the most in two weeks after saying that it may consider bidding for a US$2.4 billion stake in Hynix Semiconductor Inc being sold by former creditors.
Saudia Cargo increases service frequency to Amsterdam Starting today (8 June), Saudi Airlines Cargo is increasing its cargo services to Schiphol (Amsterdam) by two additional weekly flights. The national carrier of Saudi Arabia, which...
Ceva and Iveco prolong alliance in Turkey to 2013 Logistics service provider Ceva and truck maker Iveco have prolonged a partnership that began in 2007 to 2013. The agreement foresees that Ceva will continue to distribute Iveco sp...
Electronic truck toll in Poland Poland is going to introduce a new distance-related electronic toll on 1 July. The charges will be levied on around 1,800 km of motorways, A roads and regional links. The leve...
Oebb says Rail Cargo Hungaria not for sale According to various media sources, the Austrian state railway OeBB does not want to sell its loss-making Hungarian freight arm Rail Cargo Hungaria (RCH/formerly MAV Cargo). The re...
Interferryboats offering new intermodal transport service As from 13 June, Interferryboats (IFB) will organise daily shuttle connections between Belgium and Italy. According to a media release, the extension makes IFB the sole provider of...
Globaltrans investing in its fleet Globaltrans, a leading private freight rail transportation group operating in Russia, the CIS and the Baltics, has been investing in its fleet. Last year, the group's fleet ex...
UPS expanding capacity of air network in Americas UPS recently increased its cargo capacity by more than 50% on 19 weekly flights into Central and South America, replacing a Boeing 757 narrow-body aircraft with a new, larger B-767...
Joint venture Airbus Freighter Conversion GmbH (AFC) terminated European and Russian partners have jointly decided to stop the A320/A321 passenger to freighter (P2F) conversion development programme for economic reasons and will therefore launc...
Stuart Smith moves to ACS Paris Air Charter Service's Paris operation is moving to much larger offices after experiencing huge growth in 2010, and is now set to welcome Stuart Smith, from the company's New York f...
Port of Antwerp reinforces IT leadership with APCS Over the past few years the port of Antwerp (Belgium) invested heavily in developing electronic communication for managing the supply chain as efficiently as possible. To bring thi...
UTi Worldwide - higher revenues but lower profit The Long Beach CA (USA)-based forwarding company UTi Worldwide Inc has reported a net profit of USD 8.7 million, less net income attributable to non-controlling interests, in the q...
Röhlig registered strong growth in 2010 The Bremen (Germany)-based logistics service provider Röhlig has reported that the results for fiscal 2010 were the second best in its history. Last year's upturn made a significan...
Geodis Wilson acquires One Source Logistics The global freight forwarder Geodis Wilson has strengthened its position in the US market by taking over domestic transport specialist One Source Logistics. US-based One Source Log...
Demag Cranes delivers bulk handling MHCs to Canada Demag Cranes recently received an order to supply two mobile harbour cranes (MHCs) to Canada. The two identical machines are four-rope grab cranes for professional bulk h...
European Shortsea Network publishes annual ESN report 2010 The European Shortsea Network (ESN), a networking platform for Shortsea Promotion Centres (SPCs) in 22 countries, has just published its annual ESN report for 2010. The report cont...
EU Parliament introduces "polluter pays" principle Revising "Eurovignette" road haulage tax rules will make it possible for EU member states to charge hauliers for air and noise pollution costs, in addition to motorway to...
VLCC market poised for upturn as ship list reduces Supply of tankers available to ship crude from the Middle East Gulf remains below 70
NYK secures short-term LNG time charter deal Japan's Nippon Yusen Kaisha has signed a four-year charter agreement to transport liquefied natural gas for French energy provider GDF Suez, positioning itself to beat the expected LNG gold rush with shorter contracts
Ya-Sa Holding charters out suezmax at $21,000 a day Turkish shipowner Ytodayax tanker Yasa Polaris for one year at a respectable rate in line with the market price, as the suezmax one-year period market continues to provide a rare oasis of calm amid a sea of tanker volatility
Baltic electronic trading screen makes debut trade The Baltic Exchange's determination to keep pace with the fast moving world of trading was cemented as its new, long-awaited, electronic screen for dry freight derivatives finally carried out its first trade today
Libyan tanker fleet in lay-up V.Ships covering cost of reduced crews as vessels sit idle
Investors shun shipping companies for offshore oil The tonnage supply-demand balance is a disincentive, while many investors have already lost money in shipping stocks over the past two years
Basis for valuing ships is undergoing a sea change Traditional approaches are increasingly being regarded as inadequate to meet the latest accounting rules' more stringent requirements
World's ports will need $830bn for infrastructure OECD report says maritime container volumes could quadruple by 2030
The advantages of having ready money Countries are not so different from impoverished and overexuberant shipping concerns, in both their irrational behaviour and their inability to live within their means
Storm of protest brews among German owners Shipowners in Germany are furious about a decision by the country's government to cut subsidies
Nordic countries stop gassing on CO2 reduction LNG fuel is finally moving forward enough to convince infrastructure to follow suit
Shippers welcome Maersk call Changes in liner sector 'long overdue'
Nautilus calls for 'European Jones Act' UK parliamentary group hears plea to protect investment in high-end maritime skills
Dockwise chief threatens to quit Dutch flag over bar on armed guards Netherlands' parliament to discuss lifting restrictions on anti-pirate security next week
Cruiseships orders underpin European shipbuilding Billions still being invested into passenger shipping
DNV offers radical concepts to bear in mind for the economic upturn Class society releases details of two new bulk carrier design concepts which owners could use as the basis for selecting innovative features to be incorporated into new vessels
Brodosplit isn't working Workers' action to try to save Croatia's biggest yard has within it a kernel of hope
Transpacific box rates tumble Drewry's weekly Hong Kong-Los Angeles container rate benchmark has fallen 8.1% in seven days
Speak out now on sulphur European shipowners are playing a dangerous waiting game
Simple modifications could save fuel costs DNV says bulk carriers could save up to 10% in fuel costs with simple changes to design
APL president Eng Aik Meng resigns Kenneth Glenn to take over following the latest in a series of personnel changes at NOL
Portek in talks with potential rival bidder Stock rises to above ICTSI's offer price as Portek discloses another suitor
Chavez raises port fees VENEZUELAN President Hugo Chavez will substantially increase the country's port tariffs as of 24 June, according to a decree published in the government's official gazette
Nuclear ship scrapping backed A GREEN group has backed the decision to break and recycle nuclear waste tanker Pacific Sandpiper in Europe, but emphasised that high safety standards are needed
London FFA screens alight LONDON'S Baltic Exchange today executed the first trades on its new dry FFA screen
Smuggler sentenced in US STOWAWAY Angel Gomez has been sentenced to 20 years in prison for trying to smuggle drugs into the US
CEOs offer Capes gloom FOUR CEOs of publicly traded drybulk companies are backing redictions of an extended Capesize rate trough
Oz extends Indonesia cattle ban AUSTRALIA has suspended all exports of live cattle to Indonesia, agriculture minister Joe Ludwig said today in Brisbane
Somalia urges hostages' release SOMALIA'S government has appealed to local pirates to release seven Indian seafarers still in captivity even though a ransom has been paid
Russia coal terminal planned SUMMA Capital, which took control of Russia's Novorossiysk port at the end of last year, is planning to build a coal terminal at Wrangel Bay in the country's far east
Antwerp offering discount for green ships GREEN ships will mean more pocket green for owners, Antwerp's port said today
Capesize ballasters evade enticement HIGH RATES offered by Atlantic charterers to entice Capesize ballasters from the Pacific have resulted in a tonnage glut and a rate correction, brokers told Fairplay
Dockwise warns on armed guards HEAVY-lift operator Dockwise has warned the Dutch government it might be forced to flag out if the country doesn't relax rules on armed guards
EU freezes Libya port assets THE EUROPEAN Council has added six Libyan port authorities to its list of entities with assets frozen due to their links with the Gaddafi regime
Medco shifts to gas MEDCO Energi Internasional, Indonesia's biggest independent oil and gas company, is shifting focus to natural gas to make up for falling oil production, the bank DnB NOR said today
Valencia turns around port losses VALENCIA'S port today told Fairplay it turned around last year's losses to profits of €22.1M ($32.3M) in 2010
Safmarine's eye on the sky THE SKY might be no limit for Safmarine Container Lines.
Customs Announces ITDS "Single-Window" Data Set Customs and Border Protection announced on Wednesday a major step toward fulfilling a 10-year-old goal of giving importers a "single...
AFL Short-Sea Service to Launch Next Week A New England-Halifax shuttle service, launched by American Feeder Lines as the forerunner of a planned coast-wide network of short-sea...
FMC to Query Chinese Bond Rider Changes The Federal Maritime Commission will seek public comment on a proposal for an exchange rate adjusted bond rider for non-vessel-operating...
US Chamber Calls for Elevated Border Trade Facilitation U.S. Chamber of Commerce leaders said Wednesday that the U.S. and Mexico should elevate their efforts to promote security and...
UP, BNSF Sued for Price-Fixing Coal and coke mining firm Oxbow Corp. is suing the two largest U.S. railroads, Union Pacific Railroad and BNSF Railway,...
European Shippers Support Maersk CEO's Call for Change European shippers are endorsing the call for radical changes in the container industry by Maersk Line CEO Eivind Kolding, but...
Ryder System Buys Hill Hire for $252 Million Ryder System expanded its truck leasing operations in the United Kingdom by acquiring British heavy truck leasing firm Hill Hire...
DOT Freight Index Slipped in April Freight volume carried by for-hire transportation companies in April fell 1 percent from the previous month but was up 3.7...
Baltic Exchange Launches Dry Freight Derivative Marketplace The Baltic Exchange's new electronic marketplace for dry freight derivatives, Baltex, began trading today. Baltex, which executed its first...
DHL Express Expands US Service to Middle East, Asia DHL Express is adding flights connecting the U.S., Middle East and Asia, dedicating a new Boeing 747-400F to its intercontinental...
US Chamber Board Picks Trucker Ruan as Chairman The board of directors at the U.S. Chamber of Commerce elected Iowa trucking industry executive John Ruan III as chairman...
Inventory Restocking Arrives Earlier, Lasts Longer U.S. shippers moved more freight than normal in the first quarter, as a wave of inventory restocking hit earlier than...
DHS May Ease Airport Shoe, Laptop Rules The Department of Homeland Security, in a move that would be welcomed by long lines of beleaguered travelers, is considering...
Antwerp Introduces Discount for 'Green' Ships The port of Antwerp wiil reward "clean ships" with a 10 percent discount on tonnage based harbor dues from July...
Mumbai Port Traffic Falls 18.5 Percent Container throughput in India's Port of Mumbai fell 18.5 percent year-over-year in the first two months of fiscal 2011-12, the...
Dockwise Threatens to Quit Dutch Flag Heavy-lift shipping company Dockwise warned today that it will transfer its Dutch-flagged ships to a different register unless the Netherlands...
Bremen/Bremerhaven Reports Record Box Traffic Container traffic at Bremen/Bremerhaven hit a record high in April as the German twin ports continue to outpace growth at...
APL President Eng Aik Meng Resigns APL President Eng Aik Meng announced his resignation on Wednesday, expanding a rapid overhaul in the top leadership at one...
Drewry Trans-Pacific Benchmark Rate Slides Spot container freight rates on the eastbound trans-Pacific took a sharp turn downward in the last week, falling 8.1 percent...
Japan Reports Record Trade Deficit Japan's trade deficit with the rest of the world soared more than three-fold to a record in the first part...
Hapag-Lloyd Skips New Orleans Port Calls Hapag-Lloyd said it will omit the next three ship calls on its GS1 service between the U.S. Gulf and East...
World, Finnair enter cargo flights agreement World Airways, a subsidiary of Global Aviation Holdings, has entered into an agreement with Finnair Cargo to provide MD-11 all-cargo flights serving Helsinki, Shanghai and New York, starting June 15. The new service is to operate twice a week using...
TNT adds Delhi/Europe freighter service TNT Express has started a dedicated Boeing 767 freighter service between India and Europe, the company said Wednesday. The service will run five times a week between New Delhi and TNT's European air hub in Belgium, with a stopover in Dubai on the ...
DHL Express boosts U.S./Mideast/Asia service DHL Express this week started next-day intercontinental flights between the United States and the Middle East and Asia-Pacific to the United States to meet increased demand along these trade lanes. The Boeing 747-400 freighter operated by Polar Ai...
Latin airlines: EU emissions scheme 'illegal' The Latin America and Caribbean Air Transport Association has asked the region's governments and airlines to reject the inclusion of international aviation in the EU-Emissions Trading Scheme (EU-ETS). The association called the scheme "an illegal,...
Emirates selects Uganda agency representation Emirates Shipping Line has established agency representation with Equator Line Uganda in Uganda. Landlocked Uganda is typically reached through Kenya, where Emirates calls on two services from the Far East, Pakistan, and Middle East....
NOL departures continue as Eng leaves APL Eng Aik Meng will step down as president of liner carrier APL at the end of August, the line's Singapore-based parent company NOL said Wednesday. Eng Eng will be replaced by APL veteran Ken Glenn, who is president of APL's North Asia region. NOL s...
Pilots to reduce Mississippi draft 2 feet Pilots who guide ships in and out of the Mississippi River say they will reduce the depth to which ships can be loaded because of silting from this spring's floods and a lack of funds for dredging. Capt. Michael R. Lorino Jr., president of the As...
Air services announcements DHL Express boosts U.S./Mideast/Asia serviceDHL Express this week started next-day intercontinental flights between the United States and the Middle East and Asia-Pacific to the United States to meet increased demand along these trade lanes. TNT ad...
Port of Antwerp to reward cleaner ships Measure follows an initiative by the International Association of Ports and Harbours Environmental Ship Index initiative.
IFO prices firm in Fujairah Small movements across South Africa.
European bunker prices rise Piraeus prices 'crazily high'.
Collision left 1.5 metre gash in bunker tank 330 mt of fuel oil leaked into UK dock despite prompt action by bulker's crew.
Capesize bulkers slow-steaming while bunker prices remain high But broker suggests it is unlikely to be a long-term trend.
Finnish forest industry calls for delay of 0.10% ECA sulphur limit Says IMO decision creates competitive disadvantage for countries in ECA regions, wants equity with global sulphur restrictions.
Mid-week bunker prices mostly up at Asian ports Supplies of bunker material mixed at key Asian ports on Wednesday.
Sunken bunker tanker brought ashore at Bangladesh Two-member investigation committee was set up to look into the sinking of MV OT Moon.
Bunker regulations must have 'regard for practicalities' Legislation sometimes passed for 'idealistic reasons,' bunker conference told.
Offshore operator chooses fuel efficient Wärtsilä system DSCV vessel will use Wärtsilä Low Loss Concept and the ECOMeter.
Hyundai Oilbank buys bunker fuel cargo amid tight avails Company purchases 30,000 mt of 380 cSt product from Singapore for June delivery.
Lanka IOC reports 14% drop in bunker sales revenue Looks forward to 'a lot better' year in 2011-2012.
Singapore-based trading firm acquires bunker tanker Plans to acquire more newbuilds to operate in Singapore's bunker industry.
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