S'pore releases impounded Cosco vessel The Singapore authorities have returned a dry bulk vessel to China Cosco Holdings, six days after it was impounded over a financial dispute with one of the company's clients, court documents and a company official said yesterday.
Air France-KLM sees limited access to funding in 2012 Air France-KLM Group will find it tougher to finance investments next year, given the limited scope for tapping capital markets and the funding difficulties of French banks, the airline's chief financial officer Philippe Calavia said.
VLCC rates increase 5.9% to highest since April The cost of hiring the largest tankers hauling Middle East crude to Asia jumped the most since April as the number of bookings for voyages advanced close to the highest in five years.
BNSF names Hondo Railway shortline of the year The Hondo Railway (HRR) has been named shortline of the year at BNSF Railway's annual Shortline conference held in Irving TX. According to BNSF, HRR is on course to more than doubl...
Russian Railways carries 3% more freight The Russian Railways network transported 109.9 million t of freight in October, exceeding the amount for the same month last year by 2.9%. Freight turnover in October (measured in ...
Janusz Lacny re-elected IRU president The general assembly of the International Road Transport Union (IRU) has re-elected Janusz Lacny as president for 2012-2013. Lacny's distinguished road transport career started in ...
BBC Chartering introduces additional transatlantic service The German heavylift shipping line BBC Chartering is set to commence a monthly liner service between the Mediterranean and the east coast of Latin America at the end of November. T...
Thorco Shipping opens branch office in Italy Thorco Shipping Denmark, headquartered in Denmark and with branch offices in Bremen, Singapore, Hong Kong, Rio de Janeiro and Houston, has set up a centre in Genoa too. Thorco Ship...
Volkswagen now majority MAN shareholder The majority takeover of MAN by Volkswagen is complete. Volkswagen now holds 55.9% of the voting rights in MAN and 53.71% of its share capital. This clears the way for close cooper...
JAL extends free transport of relief goods to Thailand Japan Airlines (JAL) is extending its aid to those affected by the flooding in Thailand. JAL will transport relief goods and materials free of charge on scheduled JAL flights from ...
CHEP brings efficiencies to the aviation sector CHEP, a global provider of pallet and container pooling and supply-chain services, has launch CHEP Aerospace Solutions, one of the world's largest independent networks of pooled UL...
KLU and Insead open joint humanitarian logistics research centre The Kühne Logistics University (KLU), one of Germany's best-known logistics colleges, has announced the opening of a joint research centre in humanitarian logistics with Insead, a ...
Logwin in deal with Malaysian fashion alliance Logwin, a Grevenmacher-based Luxembourgian logistics service provider, has signed a partnership agreement with the Malaysian International Fashion Alliance and thus become the offi...
Damco opens Dubai high-tech warehouse The logistics services provider Damco has opened a new warehouse in Jebel Ali, in Dubai (United Arab Emirates), for customers in the high-tech industries. "Dubai is a hub for ...
MAN Latin America to make record investment São Paulo-based MAN Latin America is planning the largest investment programme in its 30-year corporate history. More than EUR 400 million are to be made available between 2012 and...
Safety work continues on Victoria Pass in Australia Work has begun on improvements to the Great Western highway at the top of the Victoria Pass in NSW (Australia), the scene of a number of recent fatalities. Federal infrastructure a...
Alaska aviation system largest in North America Alaska has the largest aviation system in North America, with more than 700 registered airports supporting more than 10,000 pilots. The first annual summary of the Alaska aviation ...
Will LNG fuel save boxship owners money? Liquefied natural gas is the fuel of the future, but there are potential drawbacks
Middle East-Asia naphtha exports cut as India muscles in Fewer employment opportunities for long range tankers as smaller vessels carry cargo
Falling US container volumes likely as retailers keep lean inventories This Christmas will not be like 2008, when the financial crisis caught everyone off-guard, says National Retail Federation chief
Kiel Canal to get new $1.3bn locks Fifth chamber to Brunsbüttel will boost status of Hamburg as Baltic Sea gateway
Use of bigger ships raises concern over Hamburg port Emerging ports in the Baltic pose a serious threat, fuelled by uncertainty over the dredging of the Elbe
Failure of trust at Dover port When three of Dover's largest customers appealed against port tariffs it brought to a head years of discontent
Time for owners and bankers to get real Owners and bankers have lost sight of market realities
Why not propel ships by magnetism? First prototype was launched in Japan over 20 years ago
Exclusive: First GNMTC suezmax in post-sanctions international voyage Vessel tracking data shows vessel passing Oman after loading cargo in Kuwait
Norton Rose to set up shop in Nordic region The law firm aims to capitalise on its position with a permanent presence
Short-term crude oil floating storage rises 40% as Iran struggles to sell NITC tankers add 12.9m barrels to the VLCC mix
Teekay hails offshore and LNG As tanker division struggles, offshore and LNG boost Teekay's third quarter revenues
Capesizes benefit from increased demand for South Africa-China trips Difference between Chinese domestic prices and seaborne imports at a three-year high
BG books Angelicoussis LNG quartet Maran Gas commits four of seven newbuildings on medium-term deals, as Dynagas seeks to convert VLCCs
Fred. Olsen vessel detained for falsifying records MCA finds crew rest records faked
Teekay Tankers loss widens on goodwill impairment, weak spot rates Suezmaxes and aframaxes take a beating
US winter heating oil spike may turn out to be a damp squib But China could still boost heating oil market for product tankers
Standard follows the general increase trend Two thirds of P&I clubs have upped premiums by 5% so far
Lloyd Fonds posts $1.5m profit ahead of shareholders' vote Extraordinary meeting to decide on deal to allow US investor AMA Capital to take a stake
German owners head for crunch talks with government and banks Industry fears that next year 'will see the big closing sale of German owners'
Teekay reports third-quarter loss Low rates and over-supply of vessels hit tanker major
Boskalis and CSAV discuss joint US towage operation New venture would serve 45 ports in nine countries with a fleet of more than 170 vessels
North buys hull club out of run-off The deal sees an exodus of more than half of the directors
General Maritime weighs up options ahead of bond interest deadline Minimum cash waiver expires today
The hostage talks dilemma Sharing information about hostage negotiations with directly interested parties, without compromising delicate talks, needs to be addressed
China syndrome The world's haven of trade growth is responding to the economically troubled West
JNPT says it will increase capacity fivefold in 10 years India's biggest port operator is tendering a dredging project and continues to pursue terminal development
Maersk Line leads service reliability league table Ships arriving on time at selected ports in the third quarter rose by 8 percentage points to 63%
Austal buys Philippines shipyard Aluminium specialist pays $7m for facility
Ross ready to buy foreclosures BANKS will have a greater ability than before to sell foreclosed vessels to private-equity buyers, billionaire investor Wilbur Ross told the Marine Money conference today
Courage profits dissolve into losses DRYBULK carrier Courage Marine has posted $3.4M in losses for 3Q2011, reversing $812,000 in profits for the same period last year
VLCC gains extended VLCC SPOT rates are extending recent gains, with the tankers' availability in the Persian Gulf remaining low, shipping analysts said today
Losses mount for Teekay TEEKAY said today a weak tanker market caused it $291M in 3Q11 losses, a jump from $186M in losses in the year-ago quarter
China seen needing even more VLCCs CHINA will need 90-170 more VLCCs than now ordered to cover its demand for crude in the next 4-5 years, according to ICAP Shipping
FSL Trust settles Daxin suit SINGAPORE'S FSL Trust Management said it has settled a dispute out of court with bunker supplier Daxin Petroleum
On-time box scores rise BOX SHIPS arrived on time more often in 3Q2011, for the second consecutive quarter, a report said today
Panamax peak to hold off PANAMAX bulker rates are likely to remain under pressure because newbuilding deliveries will not peak until 2012, Sea-web data indicated today
Idle box ships sent to Kiel GERMAN vessel manager BBG said it is idling two charter-free Panamax box ships at Kiel, but stressed that the vessels are not in lay-up
Libyans beat oil forecasts LIBYAN crude output has made an earlier recovery than expected from the productions depths during the revolt against Moammar Gaddafi, the IEA said today
IEA: China could raise imports of products THE IEA has warned that if China draws down its products stocks, that might force Beijing to raise imports late this year, as the peak winter demand kicks in
Frenzied sales fuel Capesizes BROKERS told Fairplay today frenzied iron ore sales to China have resulted in rising Capesize rates - but not to the year's highs seen last month
Oz wheat cargoes climb 36% AUSTRALIA'S wheat cargoes jumped by 36% in the marketing year ended 30 September, official figures showed today
UP Pushes Back Grain Terminal Opening Union Pacific Railroad has pushed back the opening of its grain transloading facility at Yermo, Calif., to late 2011 or...
ProLogis Sells Major Share of Brazilian Logistics Park ProLogis has sold 90 percent of its share of a major Brazilian logistics hub to PREVI, the pension fund for...
Emirates Shipping Raises Indian Port Congestion Fee Emirates Shipping Line once again boosted its port congestion surcharges on containers shipped through India's Port of Chennai. Effectively...
US Intermodal Container Volume Falls Intermodal container loads for U.S. railroads slowed down in the week ending Nov. 5, slipping 2.1 percent from the previous...
Hainan Launches China-West Coast Service Hainan P O Shipping in December will expand its trans-Pacific service by adding a North and Central China string to...
Work Begins to Ease California Rail Bottleneck Construction has begun on a $208 million rail crossing project that will reduce train and vehicle congestion in Colton, Calif.,...
Alameda Shortfall, Just Once More Just as it did this year, the Alameda Corridor Transportation Authority probably will need another shortfall payment from the ports...
Beyond Paying the Bill Complex and changing fee structures in freight transportation are prompting parties to collaborate and forcing freight payment firms to adapt...
It's a Builder's Market Mark Furman has a list of reasons why the market for building new railcars is strong despite continuing worries about...
FedEx Express Expands in Northern Ireland Federal Express opened a new facility and expanded delivery service in Northern Ireland, speeding global delivery times to and from...
Boskalis, CSAV Discuss Americas Tug Joint Venture Boskalis, the Dutch dredging and marine services group, and Chilean ocean carrier CSAV are working to establish a joint towage...
ATA's Graves Hails Senate Transport Plan The American Trucking Associations joined an array of business groups praising a transportation spending plan approved by a Senate Committee,...
Wilmington Box Volume Inches Up 2.7 Percent Container volume at North Carolina's Port of Wilmington grew 2.7 percent in the quarter ending Sept. 30, helping push revenue...
Ocean, Air Traffic Boost Damco Profit 8 Percent Damco's profit in the first nine months of 2011 rose 8 percent year-over-year to $567.7 million, as ocean and air...
Air Cargo Germany Adds Korea, South America Services Air Cargo Germany is launching twice-weekly 747-400 freighter service between Germany to South Korea and flights between Hong Kong to...
Air France-KLM Sinks to Cargo Loss Air France-KLM's cargo unit swung to a $50.3 million loss in the fiscal second quarter ending Sept. 30 from a...
Frankfurt Cargo Slumped 9.3 Percent in October Frankfurt airport handled 9.3 percent less cargo in October than a year ago, a significant acceleration on previous monthly declines...
Arbitrator Sets Reefer Screening Standards A U.S. West Coast arbitrator, moving to settle a dispute that has disrupted cargo handling at some ports, on Wednesday...
ICTSI see interesting revenue and net profit rises Manila-based International Container Terminal Services (ICTSI) has reported an impressive financial performance for the first nine months of 2011.Its ...
CMA CGM revamps Asia-West Africa links A combination of seasonality and operational difficulties, most notably the labour unrest in the port of Tanger Med, has resulted in Marseilles-headquartered CMA ...
Concor doing well, despite the competition Despite the competition emerging from private train operators, the state-owned Container Corporation of India (Concor) has performed reasonably well in H1 of its ...
China's exports decline as global demand stalls The euro debt crisis and a stuttering US market are putting the brakes on China's export-led growth, piling more pressure on ailing container lines plying these ...
Evergreen's Hsieh calls for more Yangtze River spending More investment is needed to improve the navigability of the Yangtze River, according to Bronson Hsieh, vice chairman of the Evergreen Group. Speaking ...
Three West African nations back in AGOA Trade to/from Africa and the US should be boosted as a result of President Barack Obama's recent decision to restore trade preference agreements with the West African ...
Matson's Q3 results impacted by 'persistent weakness' of transpac US Jones Act carrier Matson has seen its Q3 results slip on the back of weak rates on the transpacific - a market which the company said was 'highly challenging', ...
Damco outperforms market Denmark-based Damco outperformed the market in the first nine months of the year, underlining the merit of distancing itself from Maersk Line in much the same way ...
MSC set to improve inland triangulation of containers MSC (Belgium) has launched an innovative project to encourage more efficient use of its empty containers inland. Instead of import containers moved under merchant ...
Investors' angst as Rome burns Asian investors were spooked today by fears that Italy, the third-largest economy in the eurozone and eighth in the world, would be unable to rollover its EUR300 ...
CMA CGM indicates more slow steaming in the pipeline
Unions blast MarAd, Matsuda Four U.S. maritime unions say the Maritime Administration and its leader David Matsuda should be "ashamed of itself" for issuing a report comparing U.S. and foreign-flag ship operating costs without seeking their input
Rotterdam vessel to run on HVO fuel grade 'If the pilot is a success, some of the Port of Rotterdam Authority fleet will sail on this fuel for a test period of one year.'
IFO prices fall in Fujairah Avails limited in Durban.
Fuel oil prices soft in Rotterdam Marine fuel products remained very tight, reports said.
Fuel oil stocks at three-week low Arbitrage inflows will pick up in the second half of November.
Size of newbuilds 'linked' to bunker prices 'Strong correlation' between high fuel prices and orders for 'mega containerships'.
New appointment at Global Risk Management 'Our activities in Asia are increasing steadily,' says company MD.
Great Lakes terminal officially opened Freighters can work cargoes while taking on bunkers.
New bunker broker 'to set new standards' Experienced bunker player sets up firm called Benchmark Bunkers.
Fuel oil export tax to rise in December Russia is set to increase export duty by around 3.5%.
Bunker prices falling in major Asian hubs Plenty of enquiries in Hong Kong on Thursday, traders say.
Bulk carrier owner takes fuel-saving initiative Tolani Shipping installs voyage decision support systems to five of its vessels.
New bunker trader joins Dan-Bunkering Wajdi Elhakim is based at the company's head office in Middelfart, Denmark.
'Robust demand' for storage services boost Vopak's earnings 'Well positioned' to post operating profit of up to $1 billion in 2013, says group chairman.
Tanker owners 'sandwiched' between financial, shipping markets No 'real' development of vessel efficiency from shipyards, says DVB spokesman.
Cargo arrivals ease tight IFO avails in Colombo As two major suppliers brought in replenishment cargoes over the weekend.
Noble Group suffers losses, CEO steps down Company's profitability impacted by 'random and extreme volatility' in the market, says company chairman.
Salvors start pumping bunker fuel from Rena's submerged tank Salvors exploring ways to speed up process of removing bunker fuel from submerged tank.
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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