Prospects of higher cargo demand lift Baltic index The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose for a second day on Tuesday, helped by firmer sentiment and expectation of higher cargo demand.
Rates to ship M-E crude to Asia hit year's high Rates to ship Middle East crude oil to Asia, the world's busiest route for supertankers, rose to this year's highest level as vessel owners moved to pass on higher fuel costs and meet stronger demand.
S Korea handles record box traffic in Jan Container volume handled at South Korea's seaports reached a record monthly high in January, fuelled by improving economic and business conditions, the Ministry of Land, Transport and Maritime Affairs in Seoul said yesterday.
Russian Railways: 10,300 km of track repaired in 2010 Russian Railways modernised a total of 10,300 km of track in 2010. During line repair work, the company installed new track switches on reinforced concrete crossing sleep...
European rail chiefs propose concrete measures for the railway's future The CEOs of the three major European rail associations recently met the European Commission's vice-president Siim Kallas, who is responsible for transport, in Brussels. Repres...
Russia lifts cross-border restrictions, signs Polish bilateral agreement Multilateral licenses facilitate international road freight transport as they enable hauliers to cross borders with just one permit, rather than having to apply for several bilater...
Owners hold off on deals as loss-making climate persists High bunker costs and low rates have caused Tanker Pacific, a Singapore based company that manages a fleet of 45 vessels, to hold back from agreeing to deals that lead to loss-making voyages until conditions improve, brokers say
Saudi Arabia to Japan VLCC rates treble as Asian oil traders pile in An influx of very large crude carrier chartering by Asian oil traders after the lunar holidays has rocketed up spot rates for VLCCs on the Saudi Arabia to Japan route to nearly treble the rate from the end of last week
Capesize rates buoy Baltic Dry The Baltic Dry Index rose by 28 points to 1,092 today with capesize time charter rates rising for the second day in a row after a seven-week fall
A shining light of the Enlightenment Bell Rock Lighthouse is a remarkable feat of civil engineering and also stands as an example of technology deployed for humanitarian purposes
More brokers move to Cleartrade OTC screen New Singapore-based central screen says 'steady progress' is being made
Is an appetite for quality enough to keep Japanese yards on the menu? The imminent demise of Japanese shipbuilding may have been exaggerated, but a new strategy will have to offer some tasty long-term survival options
Pirates targeting tankers at Strait of Hormuz exit points Sector may be forced to avoid area after Irene SL hijack becomes eighth attack on vessel type in a four-week period
Shipping can learn from shore-based CO2 monitoring systems There are a number of proven technologies to choose from
Tax CO2 emissions, not bunker fuel Direct taxation of ship-based CO2 emissions is fairest option
Wikileaks report exposes US box scanning flaws False alarm at Manzanillo reveals holes in security procedures for containers entering the US via Mexican ports
Run on redemptions sank Clarkson's shipping hedge fund
The booze cruise that sets its sights on consumption As oil prices eat in to shortsea shipping's profits, attention has been turned to lowering fuel usage
Sovcomflot snaps up six Primorsk aframaxes Deal bolsters tanker giant's grip on shuttle trades to Sakhalin oil projects
Odfjell boss sees hope for chemical tanker rates Cargo owners now prepared to discuss freight rate rises, says Jan Hammer
Emissions trading plan is 'burden on shipping' London-based Greek shipping group say fuel levy is the more suitable option to cut carbon emission
Global Ship Lease gears up to raise $500m fresh capital Plans either follow-on share issues or via issue of debt securities
Tui still weighing up Hapag-Lloyd exit options No decision yet on whether it will be via an IPO or sale
Bangladeshi bank to fund aframax tanker buy First Security Islami Bank breaks new ground with $10m loan to Eastern Ocean Tankers
Higher costs and taxes eat into Marco Polo profit Posts 17% fall in profit to $3.1m for first quarter of its fiscal year
Imarest to beef up services from office sale cash Institute of Marine Engineering, Science and Technology to sell London headquarters building
Beluga's new ships to boost cargo turnover time Heavylift specialist reveals details of its P3-series vessels
China still on full throttle China's dominance in the shipping industry is now filtering into sectors that transport finished goods
Deathtrap lifeboats Now is the time to take some decisive action about the safety of lifeboat release systems
Clean Shipping Index launches commercial offering Index to score a ship's NOx and SOx emissions, as well as its waste water discharges and biofouling
Industry 'asleep' to unlimited liability International Registries managing partner Clay Maitland warns shipowners could face unprecedented financial burdens in future oil spills
Dry bulk bankruptcies 'unlikely' Follow-on equity issues will help companies stay afloat, Genco financial chief tells Hellenic-American and Norwegian-American Chambers of Commerce conference
Tough year ahead for ship finance Bankers now even more cautious on lending, panel tells Hellenic-American and Norwegian-American Chambers of Commerce conference
Singapore maritime sector warns of threat to recovery Singapore Shipping Association says rising cost of doing business could negate sector's recovery
Algoma Central orders three more bulkers from China Nantong Mingde Heavy Industries to deliver ships between 2013 and 2014.
Suez sit-in raises Egypt worries AS STRIKES by opponents of Egypt's government multiplied today across the country, about 6,000 workers at five service companies owned by the Suez Canal Authority reportedly began a sit-in
Polish yard cuts jobs, switches focus POLAND'S Naval Shipyard reportedly announced today that it plans to cut 400 jobs and increase its focus on the commercial sector in an effort to improve its finances
Ship held over pollution GEORGIA'S border forces today reportedly arrested another vessel on suspicion of polluting near the Black Sea port of Poti
VLCC surplus shrinks THE SURPLUS of VLCCs competing for crude on the Middle East/Asia route has shrunk, according to figures published by the Baltic Exchange
Rolls-Royce pod plea denied ROLLS-ROYCE has lost its latest legal attempt to avert a huge payment to Carnival to compensate for Queen Mary 2's Mermaid pod problems
Caution urged on spill bills SHIPPING is "not out of the woods yet" as the US Congress reconsiders Deepwater Horizon legislation, SKULD North America president Charles Anderson has warned
Norway-Russia border agreed NORWAY'S parliament has ratified a treaty with Russia on the countries' maritime border, paving the way for a division of Arctic resources, IHS Global Insight reported today
Bugbee warns of dual collapse SCORPIO Tankers president Robert Bugbee fears that potentially severe corrections in the crude and drybulk markets could create collateral damage in the products sector
Iran: arms were meant for Gambia IRAN'S ambassador to Nigeria has acknowledged that an arms cache found in shipping containers at Lagos in October had been destined for Gambia, IHS Global Insight reported today
More SeaFrance woes? SEAFRANCE declined today to confirm or deny French news reports that it has failed to find an investor ready to bring it fresh funding
Hapag revenues rocket HAPAG-Lloyd recorded a 34% rise in turnover to €1.5Bn ($2.05Bn) in the fourth quarter as it shifted focus to the trans-Pacific trade, shareholder TUI reported today
Bourbon sees demand fueling offshore FRENCH offshore service vessel operator Bourbon has forecast a gradual recovery in the offshore market this year after demand rose for its ships in 2010's final quarter
LNG freight rates jump ACUTE vessel shortages are pushing up freight rates for LNG, with brokers telling Fairplay that just four tankers are available today for spot cargoes
East Asian LNG imports rise 17.5% LNG IMPORTS to East Asia jumped 17.5% in 2010, a sector report said today, while the average price paid for the cargoes in the region rose 11%
Keppel boss enlarges stake KEPPEL Offshore & Marine CEO Tong Chong Heong has exercised options to buy 100,000 shares at S$6.16 ($4.84) each.
BIMCO Demands Safety in Arabian Sea Amid almost daily pirate attacks, The Baltic and International Maritime Council warned Indian officials its members would find other routes...
Nadler Introduces Clean Ports Bill in House Rep. Jerrold Nadler, D-N.Y., Wednesday introduced legislation to reduce truck pollution at container ports -- and to make it easier...
Senator Moves to Reduce Rail PTC Mandate What is being billed as a "common sense" bill to reduce regulatory burdens would remove a congressionally-imposed December 2015 deadline...
USPS Posts $329 Million Quarterly Loss The U.S. Postal Service lost $329 million in its last quarter and expects to run out of cash by the...
Freight Index Rose 1.5 Percent in December The Transportation Department's Freight Transportation Services Index, which measures shipment volume in ton-miles, rose 1.5 percent in December from its...
Corporate Coalition Calls for Energy Incentives An advocacy group for energy security is calling for a national transportation policy that emphasizes market-based incentives to reduce energy...
Spot Freight, Truck Rates Rise in January Spot market truckload freight volume shot up 62 percent year-over-year in January, according to the TransCore North American Freight Index,...
Trucking Growth Barely Slows, PCI Shows Record-breaking winter storms across much of the country may have chilled trucking activity in January, but they didn't freeze the...
Safmarine Buys Slots for Far East-India Service Safmarine is introducing a direct service it calls FMX between the Far East and main ports in West India and...
Maersk, Hapag-Lloyd to Share Med-US Services Maersk Line and Hapag-Lloyd entered a slot swap agreement for services from the Mediterranean to the U.S. East Coast and...
Hapag-Lloyd Swings to $133 Million Operating Profit Hapag-Lloyd swung to an operating profit of $133 million in the final quarter of 2010 from a year-earlier loss of...
Gulfport Container Volume Climbs 4.8 percent Container volume at Mississippi's Port of Gulfport grew 4.8 percent in 2010, but the 208,486 20-foot equivalent units remained behind...
Roadrunner Runs Up Revenue, Profit in 2010 New business from acquisitions and market share gains pumped up revenue and earnings at hybrid trucker Roadrunner Transportation Services last...
Rail Exec Sees Florida Gaining From Panama Canal The widening of the Panama Canal in 2014 could establish South Florida as a gateway for Asia cargo moving to...
Western Canadian wheat farmers buy ships The farmer-owned Canadian Wheat Board on Tuesday said it will purchase two new vessels to move wheat across the Great Lakes. The vessels, which will be ready for service in 2013, are part of a larger purchase by shipping companies Algoma Central Co...
U.S. intermodal volume reaches record in Q4 Total U.S. intermodal volume rose 14.7 percent in 2010, though growth slowed in the fourth quarter, according to the latest statistics released by the Intermodal Association of North America (IANA). Volume in 2010 reached 13.3 million units, while...
Matson gets boost from second China string Matson Line saw revenue and operating profit climb in 2010 as it added a second string of ships between China and the United States. Matson''s parent company, Alexander & Baldwin, in reporting its 2010 results said the carrier had revenue of $1 bi...
Global Ship Lease seeks to raise capital Global Ship Lease plans to raise up to $500 million to expand its fleet, debt repayment, working capital or general corporate purposes, it said in a prospectus filed with the Securities and Exchange Commission. Formed in 2007, Global has a fleet of...
Safmarine joins new Simatech India/China loop Liner carrier Safmarine said Wednesday it is joining a new Simatech service between China and India as a slot buyer. The FMX service starts Feb. 17 with a rotation of Xingang, Qingdao, Shanghai, Ningbo, Hong Kong, Singapore, Tanjung Pelepas, Port K...
Transpacific boosts Hapag-Lloyd results TUI AG, part owner of container liner carrier Hapag-Lloyd, said the German container carrier had sales of about 1.5 billion euros ($2 billion) in the three month period ending Dec. 31, a 34 percent increase over same period the prior year. "This wa...
U.S. import boxes surge nearly 18% in January U.S. import container volume rose 17.6 percent in January compared to the same month in 2010, according to statistics released by trade intelligence company Zepol Corp. Zepol noted that after a four-month slide month-to-month, January showed a sig...
Shoring up U.S. trade TAA, Andean trade preference extension urged The National Foreign Trade Council and the American Apparel and Footwear Association this week urged Congress to pass legislation extending two key trade-related programs -- the Trade Adjustment Assistan...
Shipping by the numbers U.S. import boxes surge nearly 18% in JanuaryU.S. import container volume rose 17.6 percent in January compared to the same month in 2010, according to statistics released by trade intelligence company Zepol Corp. U.S. intermodal volume reaches rec...
Italian tanker hijacked in the Indian Ocean The Italian-owned tanker Savina Caylyn, 104.255 DWT, has been hijacked some 670 nautical miles East of the Socotra Island in the Indian Ocean, EU Navfor reports. The ship
APL in scrubber test One of APL's container carriers will be equipped with a seawater scrubber, an air pollution-reduction device. It will be used when the ship is calling ports in the Southern
Fujairah prices rise Avails tight in the Middle East hub.
Rotterdam market firms 'Very good' demand in Hamburg.
IMO sub-committee stalls further actions on fuel quality controls BLG decides not to continue work on proposals to introduce stricter regulatory controls on bunker supply or extending MARPOL Annex VI specifications beyond sulphur.
More fuel oil cargoes command 'double-digit premiums' No end in sight to supply tightness say traders.
MOL listed among '100 most sustainable companies' MOL is 'highest ranking' shipping line in the latest list.
Bunker prices generally firm at major ports Demand largely average at key Asian ports on Wednesday.
Russian bunker association calls for scrapping of bunker duty In response to recently imposed duty on 'bunkers-only calls' at all Russian ports.
Waste heat recovery system to cut marine fuel usage by 5-10% Man Diesel agrees to integrate waste heat recovery system on its diesel engine.
Sinopec Zhoushan in 'trial takeover' of SinoBunker ops at various ports Sinopec Zhoushan to 'takeover' sales and purchase of bonded bunkers in Zhanjiang, Dalian, Hainan and Shenzhen.
ExxonMobil sells high-density fuel oil parcel at 16-month high Strike price higher due to the general supply tightness in the Gulf market, traders say.
Philippines 'may face' bunker supply squeeze in 2011 Two refiners sign contracts to supply government-owned domestic power plants.
Discovering 'hidden' energy saving opportunities System measures and displays actual power consumption using data that manufacturers are 'generally unwilling to disclose.
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.
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