China seen returning as top shipbuilder in time China should regain its status as the world's leading shipbuilder in the next few years if domestic suppliers such as China Rongsheng and Yangzijiang Shipbuilding quickly modernise their drydocks and close the technology gap with South Korean competitors.
Baltic index edges higher after 2-day fall The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned positive on Wednesday, helped by modest iron ore cargo business.
Togolese carrier Asky increases frequencies The Lomé-based Togolese carrier Asky Airlines increased its capacity on services to Bamako (Mali), Brazzaville (Congo), Conakry (Guinea), Cotonou (Benin) and Kinshasa (DRC) today 1...
Chapman Freeborn expanding on-board courier service Chapman Freeborn's on-board courier service (OBC) has been transferred to new and modern headquarters at the company's main German location near Cologne-Bonn airport. The courier s...
World Bank and Liberian government sign road project deal The Liberian government and the World Bank have signed an agreement for an estimated USD 249 million for the rehabilitation of the 250 km Monrovia (Red Light)-Gbarnga-Ganta-Guinea ...
RFF and Eiffage sign up for large French railway project The Brittany-Loire valley high-speed railway line, measuring 182 km, will be an extension of the 180 km of high-speed line between Paris and Le Mans, built in 1989. The new line wi...
Genesee & Wyoming agrees to acquire Arizona Eastern Railway Genesee & Wyoming Inc has agreed to acquire the Arizona Eastern Railway (Azer) from Iowa Pacific Holdings of Chicago IL, for USD 90 million in cash, subject to adjustment for f...
DAF Trucks (Netherlands) to acquire stake in Tatra DAF Trucks and Tatra have agreed that DAF will acquire 19% of Tatra. DAF will supply engines and cabs to the Czech truck manufacturer. Tatra, founded in 1850, produces a complete p...
Evergreen Line wins US environment award The ports of Los Angeles and Long Beach have presented Evergreen Line with a 2011 clean air action plan air quality ward, an honour given to those taking extraordinary measures to ...
CMA CGM to invest USD 100 million in Jamaican terminal CMA CGM, the world's third-largest ocean carrier, is set to invest USD 100 million in Jamaica's Kingston container terminal, as part of an agreed 35-year lease, according to the Ja...
Rhenus awarded Tapa A security certification in Netherlands The German freight forwarding and logistics corporation Rhenus was recently awarded Tapa A security certification in the Netherlands. Tapa, the Transported Asset Protection Associa...
Insolvency threatening Viator & Vektor Logistika in Slovenia The Slovenian freight forwarder and logistics service provider Viator & Vektor Logistika is about to enter into receivership. Now that negotiations with the banks concerned for...
Amar Chouaki appointed regional sales VP at AF-KLM maintenance Amar Chouaki has been assigned a new mission with Air France Industries KLM Engineering & Maintenance (AFI KLM E&M). Appointed to head the sales team dedicated to the key r...
SIA to order eight more Boeing 777-300ERs Singapore Airlines (SIA) has agreed to order eight more Boeing 777-300ERs, in order to support growth plans for the years ahead. Deliveries of the new aircraft are scheduled to beg...
German transport association not happy with EU transport white book In a new position paper the German multi-modal industry association Deutsches Verkehrsforum has made recommendations to adjust the EU Commission's transport white book, which set t...
Union Pacific begins construction at New Mexico rail facility Union Pacific (UP), a US railroad company, started construction of an all-new rail facility just outside Santa Teresa. UP is investing USD 400 million towards the total cost of a p...
Triple WWPC power gets mining equipment to China The firms Westfracht and Albacor Mongolia, in conjunction with Sadleirs Global Logistics from Australia, are currently handling the shipment of 30 dumper truck bodies, each weighin...
Making inroads into Africa's port potential Bolloré Africa Logistics chief looks beyond the company's 13 ports to its corridor logistics that include trucking, rail freight and inland cargo depots
Confessions of an Africa infrastructure investor Projects can no longer be single-user if continent is to benefit, says investor
Rising MR tanker rates lift Lauritzen earnings Tanker arm of J Lauritzen reports improved results as average rates increase
Supramax owners and charterers in stand-off over fronthaul rates Ballasters from Pacific will put further pressure on prices over the next week though
Crude and product tanker rates to diverge further this year Latest report by McQuilling Services sees crude tanker spot rates staying low, while product markets are set to rise towards year-end
Shipping share price collapse outpaces fall in stock markets Fundamental weaknesses in the freight markets drive down companies' values
Tricky timing for Hapag-Lloyd This is not the time to get a good price for any container shipping company
Tullow aims to replicate African success in South America Opportunities at Zaedyus prospect in French Guiana 'bigger than Ghana fan system'
DryShips holders gain dividend of partial Ocean Rig spin-off Payout will be combination of Ocean Rig shares and cash
Eirik Raude rig benefits from Tullow Oil's growth mode In company's planned $1.5bn expenditure for 2011, $850m is going towards production and development and the balance for exploration and appraisal
Big boxships are best bet on post-crisis Europe Hyundai Merchant Marine takes a risk with its order for five 13,100 teu vessels
In celebration of maritime boffinry It is time to recognise the unsung heros of marine technical innovation
Bankers turn up the heat Basel III looks likely to bring greater uncertainty to the LNG sector with delays in agreeing projects and perhaps restrictions on which ones go forward
TEN launches fifth stock buyback in wake of market crash Since listing nine years ago, founding family and board have increased holding to 36%
Questions raised of Vietnam's $1bn LNG port plans Government approval means little but securing finance means everything
Higher costs shave SITC profits Intra-Asia boxline volume up 10.6% but yearly 20% growth forecast looks out of reach
Teekay Offshore hopes to ride parent connections to more business Accounting loss sends offshore company into the black
Teekay LNG Partners positions itself for expansion One-off charges leave gas carrier business in net loss
Teekay Tankers banks on charter cover Interest rate swaps drags profit down to $1.4m in second quarter
Noble Group profits jump despite volatile first half Company reports decline in iron ore volumes to China but strong growth in coal and grains
Marinakis group extends order after HMM boxship charter South Korean operator to take five of Container Carriers' 5,000 teu newbuilds on long-term charter at a reported $29,900 per day
Teekay Corp sinks to $36m loss Tanker giant hit by declining rates and vessel oversupply
Shipping is heading for the rocks DVB Bank chief predicts more foreclosures and highlights failure to build up liquidity
Tui postpones Hapag-Lloyd sale German box giant's second-half results hit by declining freight rates and significantly higher fuel costs
Sovcomflot quashes talk of Gaddafi tankers acquisition Russian giant distances itself from market rumours that GNMTC fleet is up for sale
Namura readjusts forecast for fiscal year 2012 as net income plummets Shipbuilder says yen appreciation hitting yards and urges government to intervene
Delaying the inevitable The industry can never consolidate and flush itself clean if financial 'flexibility' postpones the inevitable
US towing proposal could cost owners VESSEL operators hiring US-flagged tugs could eventually need to pay higher rates as a result of towing inspection rules proposed today
Hapag-Lloyd swings to losses GERMAN box line Hapag-Lloyd said today its operating result was positive in the second quarter, but financing costs led to a swing to net losses
DVB ramps up lending GERMAN shipping and transport finance bank DVB said today it drove up its lending capacity in the first half of the year
TCC files shipper suits TCC HAS filed a barrage of lawsuits against its former shippers that will test the enforceability of the basic service contract
J Lauritzen sends warning DENMARK'S bulk shipping group J Lauritzen has warned that its full-year results will be weaker than forecast and below those of 2010
DPW shares back $850M loan to parent SHARES of Dubai Ports World are reportedly backing an $850M syndicated loan to its holding company parent, Port & Free Zone World
Yangzijiang posts record first-half profits CHINESE shipbuilder Yangzijiang Shipbuilding today announced record profits for the first half
Brightoil sees rise in Chinese demand HONG KONG-listed bunker supplier Brightoil Petroleum has reportedly forecast an 8-10% rise in Chinese demand for fuel this year
Ocean Tankers ships detained SHIPS belonging to Cypriot shipping outfit Ocean Tankers are understood to have been detained as their owner faces financial difficulties, Fairplay has been told
STX Pan Ocean returns to profits STX PAN Ocean said today it returned to profits - but barely - during this year's second quarter
Obama to Congress: Send Me a Highway Bill President Obama urged Michigan factory workers on Thursday to "tell Congress to get past their differences and send me a...
Survey Sees Major Shift of Truck Freight to Intermodal Shippers shifted freight from all-truck modes to intermodal at the fastest pace in years during the second quarter, according to...
US Trade Deficit Balloons to Three-Year High The U.S. trade deficit rose in June to its highest level since October 2008 as soft overseas demand reduced industrial...
Saddle Creek Adds Chicago, Jacksonville Sites Saddle Creek is adding facilities in Chicago and Jacksonville, Fla., expanding its network of contract logistics and distribution centers by...
Hapag-Lloyd Profit Plunges 87 Percent Hapag-Lloyd's second quarter profit tumbled to 26 million euros ($37 million) from $294 million in the second quarter of 2010...
DOE Awards $175 Million for Vehicle Fuel Projects The Department of Energy distributed $175 million in fuel efficiency research awards to 40 "advanced vehicle" projects following President Obama's...
Seaspan Takes Third 13,100-TEU Ship Container ship owner-charterer Seaspan took delivery of the third in a series of eight ships with capacities of 13,100 20-foot-equivalent...
Logistec to Expand, Modernize Brunswick Terminal Logistec USA will invest $5 million in Georgia's Port of Brunswick to expand its capacity to handle exports of biomass...
Bulk Truckers Grew 12.3 Percent in 2010 The nation's top bulk trucking companies increased revenue 12.3 percent in 2010, with combined sales reaching $3.1 billion, according to...
RailAmerica Carload Traffic Falls 6.8 Percent Weaker coal traffic pushed rail carloadings down 6.8 percent in July at short line operator RailAmerica compared to the same...
Green Alliance Cuts Halifax Port Call The Green Alliance, formerly known as the CKYH alliance, will discontinue in September its weekly container service to the Port...
Congestion Worsens at Port of Chennai Singapore-based ocean carrier APL said it is struggling to connect exports via terminals in India's Port of Chennai because of...
Irving pursues expansion Offshore affiliate of Canadian transport giant is on the lookout for tonnage following acquisition of Italian anchor-handler.
Cancellation stings Otto Singapore-listed shipbuilding and offshore syndicate sees red in the second following collapse of Mosvold Supply AHTS order.
Cantor upgrades Navios Bulker stock drop has created "the perfect entry point" if you are looking to snap up shares of Navios Partners, analyst says.
TEN springs buyback Tsakos Energy Navigation prepares to splash $20m on stock despite tanker market turmoil.
Derivatives tip TOO Second-quarter loss swells at Teekay Offshore as swaps trump surge in revenues.
Teekay LNG slips into loss Gas carrier and tanker owner hit by losses on interest rate swaps and suezmax derivative deal.
Teekay Corp still red New York-listed tanker giant racks up another loss in poor markets, but LNG provides bright spot.
SinOceanic turns it round Oslo-quoted ship investment company returns to profit in second quarter.
Bad times good for some Sovereign debt crisis reinforces Wolfgang Driese's resolve to keep DVB Bank focussed on ship and transport finance.
TUI cruise loss grows German cruiseship operation struggles with cost of fleet expansion in first nine months.
SCF denies Libyan deal Sovcomflot says it has no involvement in the purchase of tankers from Libya.
Record Noble figures in 1H Commodities and shipping conglomerate Noble Group reported record figures.
Cargoship grounds Tug and rescue boat head to scene as Turkish vessel Sun-S gets stuck in Strait of Cannakale.
Maersk boosts capacity The world's largest containership operator is about to get even bigger by expanding the size of its existing post-panamax fleet.
Top dry fleet back in profit STX Pan Ocean in optimistic mood despite tough times in its core dry cargo market.
Hope for bulker crew Seafarers on Korean ship stuck off Chennai for 17 months could go home soon after judge steps in.
SITC reports lower profit Hong Kong-listed containership company SITC reported a lower profit for the first half.
Yusen Logistics makes senior appointments As part of the ongoing restructuring since the merging of two NYK Group companies in April 2011, Yusen Logistics (Americas) Inc. has made several changes to the management team in its Transportation Division. John Lucas, senior vice president and g...
Study: 675 containers a year lost at sea The main industry group for the liner shipping industry said a study of containers lost at sea finds far fewer are lost than in some reports. The World Shipping Council (WSC) said Wednesday that based on survey results it estimates that "on averag...
Fuel, economic uncertainty reduce Hapag's profits The container line Hapag-Lloyd had first half operating profits of $41 million, an 88.1 percent drop from the same period in 2010, the line said in its interim financial statement released Thursday. Hapag-Lloyd said "a declining freight rate and s...
Hyundai joins big-ship fray Liner carrier Hyundai Merchant Marine this week placed an order for five 13,500-TEU ships with a South Korean shipyard, becoming the latest line to order ships of this size. The vessels would be the largest in the carrier's fleet, and would help i...
CMA CGM raises rates, peak season fees CMA CGM said Wednesday it plans to raise rates on a number of trades from mid-August through mid-September. The increases are: ' $200 per 20-foot container and $400 per 40-foot container from Pakistan and India to northern Europe and Mediterranean...
Maersk increases vessel size on Safari service Maersk Line has raised the capacity on a service linking China and South Africa by increasing the size of its vessels used on the service, according toAmerican ShipperaffiliateComPair Data . The average vessel size on Maersk's Safari 1 service, on ...
Cathay's first-half profits hurt by fuel costs Cathay's first-half profits hurt by fuel costs Cathay's first-half profits hurt by fuel costs Hong Kong-based Cathay Pacific airline said Wednesday its cargo business revenue climbed 8.7 percent in the first half of 2011, though the airline's tota...
Virgin Cargo's volume rises 17% Virgin Atlantic Cargo said Wednesday its fiscal year revenue rose 39 percent, to $362 million, on a 17 percent increase in volume. The airline carried 227,000 tons during its fiscal year ending June 30. Virgin didn't release profit figures for its...
DHL starts Southeast Asia truck services DHL Global Forwarding said it has reorganized its trucking services connecting Singapore, Malaysia and Thailand into a suite of three new and improved services: DHL ASIACONNECT, a less-than-truckload (LTL) scheduled service; DHL ASIALINE, a full-lo...
Fujairah prices firm Little movements in Suez bunker prices.
Singapore fuel oil stocks dip Bunker demand expected to rise on the back of lower prices.
Fuel oil prices stable in Rotterdam and Hamburg IFO 180 cSt product tight in Rotterdam.
'Fuel-guzzling vessels scrapped' STX Pan Ocean Co back in profit.
ICS and ISF announce conference speaker line-up Agenda includes solutions for reducing emissions and a special presentation by an Arctic explorer.
Bulgarian court allows refinery to keep operating Lukoil's refinery key provider to Bulgaria's bunker market.
Player predicts '8% growth' in China's bunker demand Forecast from Brightoil executive lower than other recent estimates.
US shipping company predicts 'continuing operating losses' Posts $11.1 million Q2 loss despite higher income following higher-than-expected bunker price increases.
Q2 profits slump on high bunker prices Hapag-Lloyd says freight rates slipped in Q2.
IFO prices show firming trend Supply of bunker fuels sufficient at major Asian ports.
Sinopec Zhoushan starts operations at Taizhou Provides 380 cSt grade and MGO at Taizhou port.
Weekly stocks of fuel oil at South China stable Stocks account for 71% of the total storage capacity in the region.
Yangzijiang posts record performance in H1 'Robust demand' for fuel efficient and eco-friendly vessels.
Japanese shipyard develops fuel saving bulk carrier A 200,000 dwt G-Series bulk carrier will be able to save over 10 mt of bunkers per day.
Aegean Q2 profits plunge 73% Marine fuels sales volumes down 7% to 2.64 million mt in Q2 2011 from 2.83 million mt sold in Q2 2010.
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