Baltic freight futures screen carries out first trades A new Baltic Exchange platform for centralised electronic trading of dry freight derivatives carried out its first trades and signed up users including Cargill and Morgan Stanley, the exchange said.
Panamax rates to rise next week on tighter ship supply Rates for panamax dry bulk carriers on key Asian freight routes are expected to rise slightly next week due to tightening tonnage on the transpacific route, shipbrokers said yesterday.
Kögel delivers gigaliner Trailer manufacturer Kögel recently delivered a 25.25 m long truck combination for the Scandinavian market. The longer and heavier rig consists of a trailer and a centre axle trail...
Bahrain: construction of USD 2 million road project started The Ministry of Works in Bahrain has announced the start of construction on a new USD 2 million, 26 km road project in Abu Saib's. The scheme is part of a programme that is schedul...
Australia: Pacific National injects USD 150 million in Queensland The Australian rail service provider Pacific National is set to invest more than USD 150 million into regional Queensland with the construction of four new train maintenance and pr...
Union Pacific tops list The rail service provider Union Pacific was selected as the top performing railroad by leading US agricultural shippers in the second annual Soy Transportation Coalition (STC) rail...
OeBB banking on ETCS Austria's state railway OeBB is introducing the European Train Control System (ETCS). The system, which is the same throughout Europe, will ring in a new era for OeBB with respect ...
Scania opens new premises Scania has opened a new EUR 7.5 million facility on a 10,500 sqm tract of land in München-Oberschleissheim (Germany), 500 m from its existing site. The new platform encom...
Cargo plane crash in Gabon avoiding the worst On 6 June, an Antonov AN 26 cargo plane, operating on a flight for DHL, crashed into the sea just off the shore near Libreville airport (Gabon). The airplane came to rest submerged...
Virgin Atlantic Cargo awarded freight outsourcing contract by Brisbane-based Strategic Airlines The British carrier Virgin Atlantic Cargo is expanding its cargo alliance concept with the addition of Brisbane-based Strategic Airlines as a new partner. This complements their ex...
Japan Airlines and American Airlines strengthen cargo relationship Japan Airlines (JAL) and American Airlines (American) have embarked on a closer cooperation aimed at strengthening international cargo operations for both carriers. Their agreement...
Iata announces new leadership The International Air Transport Association (Iata) announced leadership changes at the conclusion of its 67th annual general meeting (AGM) and World Air Transport Summit in Singapo...
Safmarine launches new iPhone application Shipping line Safmarine has added another e-product to its range of e-Business accessories with the launch of the Safmarine application for iPhone, iPad and iPod Touch devices. Thi...
Norbert Dentressangle: new contract with J.K.H. Drainage The French service provider Norbert Dentressangle has secured a new contract with J.K.H. Drainage, a leading manufacturer of steel reinforced pre-cast concrete products. J.K.H. was...
Deutsche Post DHL acquires US-based Standard Forwarding Deutsche Post DHL has purchased the transport firm Standard Forwarding, based in East Moline IL (USA). The acquisition is intended to strengthen the German logistics corp...
Rhenus boosts turnover in Switzerland Rhenus Alpina AG registered a successful business year in 2010. The Rhenus firms in Switzerland significantly increased their 2010 turnover to CHF 258 million (2009: CHF 236 millio...
Torm rushes to raise capital as low long range tanker rates linger Owner's second sale and leaseback deal in a week could be catalyst for similar agreements
Pacific supramax rates struggle to find solid ground Supramax rates still falling on oversupply while handysize hold above $10,000 in the Pacific
Smaller bulkers in demand from emerging countries Amid growth in demand for smaller, geared bulkers, overordering rings alarm bells
India needs LNG to supplement insatiable energy demand India's rising appetite for energy means it will have to supplement its coal imports with liquefied natural gas to meet demand
Chinese soyabean imports to keep rising China's soyabean imports are the country's "big growth story", and are set to rise over the next few years, benefiting dry bulk shipping due to high tonne-mile demand, according to Paragon Shipping chief executive Michael Bodouroglou
Shale gas is coming, but are there ships to carry it? The LNG sector is showing a surprising lack of urgency in ordering vessels to service a paradigm shift in the market
Owners reluctant to snap up MR product tanker bargains But brokers warn that restraint over attractively low newbuilding prices may not last
Seaspan signs $700m deal for seven 10,000 teu ships Takes options for a further 18 vessels as part of $2.5bn deal
Nautilus Marine seeks $60m for 'attractive opportunities' Three months after quitting Star Bulk, Akis Tsirigakis emerges with new blank cheque company for shipping deals
Financial engineers craft more spin-offs, but not for drillers Liquefied natural gas heads for "Golden Age" as Odfjell Offshore pulls back $600m IPO
Share issue could be best way forward for troubled offshore firm Bondholders may need to take a haircut and let new equity come in, says analyst
Sevan's shares embark on a long path downwards The necessity of simultaneously timing investor demand, while managing a new technology on a tight cash budget, has proved to be overwhelming for Sevan Marine
Russian ports poised for a box boom There has been a steady rise in Russia's cargo volumes, yet containerisation is still at a low level, clearly pointing to potential for growth
New port infrastructure paves the road to success Lack of appropriate rail infrastructure among Russian exporters, a lack of inland distribution centres and imbalance in container flows are all important factors in accelerating change
The rise and fall of maritime clusters The UK should be an inspiration across Europe for the way it is prepared to put up a fight in the face of the competitive threat
ICS is expressing a preference, not 'imposing' a bunker levy scheme National shipowners' associations have concluded that a levy-based mechanism will be simpler, more transparent and easier to administer
Libyan rebels plan to restart oil exports Boost expected for Mediterranean aframax trade
Greeks slow pace of orders in first five months Greek owners are most bullish on container vessels but are showing caution in adding to bulker and tanker backlog
Two ship order for Turkish yard Turkish yards prove hit in Norway
Filling the gap Pension funds have shown a taste for port terminal assets, particular in the container sector, but they could do more
Hochtief mops up Beluga Offshore stake Takes full control of joint venture
Unions pledge to fight sell-off of top Greek ports Umbrella body for port staff says emergency plans to raise money from Piraeus and Thessaloniki are unlawful and unprecedented in Europe
UK port throughput remains static Sector is failing to accelerate out of recession
A pointless exercise? Sanctions need to be fit for purpose, impossible to dodge, and absolutely unambiguous, so that everybody involved knows precisely what is expected of them
Keppel FELS wins $142m drilling tender order from Seadrill Seadrill orders eighth tender of same design
Freight volumes forecast to slowdown Rate of growth slowing falling freight rates
Exclusive: Middle East Oil Analysis Find out who exactly is exporting oil where
Work restarts at Croatian yard Occupation threat by metalworkers sees shipbuilding activity begin at Brodosplit
Yangzijiang confirms Seaspan order CHINA'S Yangzijiang Shipbuilding said today that it has won a firm $700M contract to build seven 10,000teu box ships for Seaspan
TORM sells another tanker to FSL JUST A week after selling TORM Margrethe to Singapore's First Ship Lease Trust, Danish products tanker specialist TORM has sold sister vessel TORM Marie to the trust
RCCL upsizes in China ROYAL Caribbean International said today it is shifting the 3,114-passenger Voyager of the Seas to a Shanghai base in 2012
Daewoo to manage Daehan DAEWOO Shipbuilding in South Korea told Fairplay today it will take over management of Daehan Shipbuilding next month
NOL seeks S&P funds SINGAPORE'S NOL will issue S$300M ($243.7M) in notes for partial financing of future purchases of box ships, Fairplay was told today
VLCCs rise despite oil impasse VLCC RATES continued to rise today even though oil prices exceeded $101 per barrel in reaction to OPEC's impasse on oil output
Noka barred for pollution GREEK ship management group Noka Shipping was barred from operating in the US for five years after pleading guilty to pollution violations
Shipping shares tumble US-LISTED shipping stocks fared worse than the broader market as investors reacted to OPEC's higher oil pricing and rising concerns about the economic recovery
Container Services Resume at Port of Sendai Container services resumed this week at the Port of Sendai-Shiogoma, the most important port in Japan's northeastern region of Tohoku,...
NOL to Issue Bonds for New Ships Neptune Orient Lines said it would issue S$300 million (US$244 million) in 10-year bonds to help finance the purchase of...
UCLA-Ceridian Trucking Index Declines The Ceridian-UCLA Pulse of Commerce Index extended its slide in May, falling 0.9 percent following April's 0.5 percent decline and...
Wholesale Inventories Outpace Sales U.S. wholesalers' inventories rose 0.8 percent last month, held down by tighter automotive inventories, while sales increased 0.3 percent, the...
Roadrunner Reorganizes Management, Plans Expansion Following an acquisition and East Coast expansion, trucking company Roadrunner Transportation Systems is reorganizing its management team...
TNT Express Launches Europe-India Freighter TNT Express launched a dedicated 767 freighter service between India and Europe, claiming the added capacity will consolidate the Dutch...
Obama Considers Tapping Oil Reserves President Obama is keeping open the option of drawing oil out of the U.S. Strategic Petroleum Reserve to drive down...
Truckers Seek Safety Standards Two national trucking groups called on the Department of Transportation to begin researching the benefits of crashworthiness standards for heavy...
Surging Exports Trim U.S. Trade Deficit Record exports fueled by a slumping dollar combined with a drop in automotive and oil imports to shrink the U.S....
Qatar Airways Buys 35 Percent of Cargolux Qatar Airways acquired a 35 percent strategic stake in Cargolux, Europe's biggest all-cargo airline, on Thursday taking a major step...
Former Cathay Chief to Head IATA The International Air Transportation Association named former Cathay Pacific chief executive Tony Tyler to replace Giovanni Bisignani as head of...
Hochtief hunts Beluga unit German construction group races to takeover windfarm installation venture, Beluga Hochtief Offshore.
Awilco unit readies debut Drilling division of Norwegian tanker owner scores regulatory approval to list shares on Oslo Axess.
Is it a box or artwork? The humble box, now approaching its 60th anniversary, is being celebrated in an exhibition in Germany as "a fetish of the modern age".
Genmar eyes ATM Peter Georgiopoulos-led tanker owner raises eyebrows after inking open market sales agreements in $50m fundraiser.
DFDS in staff options move Danish ferry group to promote culture that "creates and rewards results" with stock options worth DKK 3m.
Khalijia 3 sold Micky Shipping will scrap bulker involved in serious collision in India last year.
FSL reels in tanker cash First Ship Lease Trust triumphs in $16m raid tied to acquisition of Torm product tankers.
Euroseas in boxship deal Nasdaq-listed operator of boxships and bulkers has secured a two-year renewal of 2,500-teu Maersk Noumea charter.
Farstad fixes seven in Oz Karl-Johan Bakken-led offshore owner seals term deals worth over $70m for seven vessels Down Under.
Austal adds ferry Australian shipbuilder snares $17m deal for new passengership.
The good, bad and the ugly Goldman Sachs takes radically different views of the outlook for the various sectors of the shipping industry.
Seaspan's $2.5bn deal Ambitious NY-listed company finalises its plans for seven 10,000-teu units with 18 options making contract with Chinese yards worth $2.5bn.
Trucking executive to chair U.S. Chamber Ruan John Ruan, chairman and chief executive officer of Ruan Transportation Management Systems, was elected Wednesday as chairman of the U.S. Chamber of Commerce. Ruan is an Iowa-based motor carrier with a fleet of 3,300 trucks and 5,100 trailers p...
Ryder buys Hill Hire in U.K. Ryder System has acquired Bradford, England-based commercial truck leasing firm Hill Hire plc, a subsidiary of Lloyds Banking Group. The stock acquisition was completed Wednesday at a cash price of about £154 million (about $252 million). "As we c...
FMCSA seeks comments on chassis records The Federal Motor Carrier Safety Administration published a notice in theFederal Registerthis week asking for comments on modifying a requirement for Driver Vehicle Inspection Reports (DVIRs) for intermodal equipment. The proposed modification wou...
Cathay makes cargo personnel changes Cathay Pacific has made two executive personnel changes within its cargo business, the airline said Thursday. Algernon Yau, general manager of Hong Kong International Airport, will become chief executive officer of Cathay Pacific Services Ltd., the...
Cordero sworn in at FMC Cordero The U.S. Federal Maritime Commission said that Mario Cordero was sworn in last week as a commissioner for a term to expire on June 30, 2014. Cordero was nominated by President Barack Obama Sept. 17, 2010 and confirmed by the Senate on April...
CMA CGM to raise rates from Asia, Europe French liner carrier CMA CGM said Wednesday it is raising rates on a host of trades from Asia and Europe effective July 1. The increases are: From Asia (including Bangladesh and Sri Lanka) to northern Europe (including the U.K. and Baltic nations...
NOL in next phase of cash-raising Singapore-based NOL Group said Thursday it will issue roughly $243 million in interest-bearing notes as part of its $1.5 billion cash raising program to partially finance new containerships. It's the second such sale of notes for NOL, the parent c...
ESC lauds, cautions Maersk over industry changes The European Shippers' Council on Wednesday lauded Maersk Line Chief Executive Eivind Kolding for a recent speech suggesting the container shipping industry needs to overhaul its model tofocus on schedule reliability and ease of use for customers ...
CBP releases ACE federal agency message set U.S. Customs and Border Protection on Wednesday released the final Participating Government Agencies (PGA) Message Set for Automated Commercial Environment, its future umbrella computer system. The PGA Message set is a harmonized set of informatio...
Maersk CEO Eivind Kolding's 'manifesto' Maersk CEO Eivind Kolding's "manifesto" Maersk CEO Eivind Kolding's "manifesto"...
Fujairah prices firm Healthy activity in the Middle East hub.
Rotterdam and Hamburg markets firm Rotterdam prices at their highest levels in four weeks.
Buyer cooperative celebrates Golden Jubilee Membership has grown to over 450, purchasing fuels and lubricants on behalf of more than 1,500 ships.
Bunker prices firming across Asian ports Number of enquiries in key Asian bunker hubs were generally moderate on Thursday.
New managing director at DNV Petroleum Services Eirik Andreassen succeeds Tore Morten Wetterhus who returns to DNV HQ after four years of leading DNVPS.
BP buys high viscosity cargo at higher premiums BP's purchase may mean that European sources are getting tight.
US Navy pays $19.6 million for marine tank indicators Tank indicators used to measure volume of diesel fuel marine tanks, ballast tanks and waste tanks, among other uses.
Seaspan's MOL Emerald receives Triple-E rating Company 'very excited' to be first containership owner to receive rating, says vice president of Seaspan.
Calls to expedite opening of Colombo's new storage facility Suppliers complain about 'huge space constraints' for bunker fuel storage.
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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