Container shipping profits set to decline this year A fight for market share between container shipping lines is denting rates and profits, and a lack of capacity discipline could knock earnings below current estimates, shipping consultants Drewry said.
Global oil freight spot market up in 2010 The volume of spot fixtures in the global oil tanker market rose in 2010 for the first time in five years, driven by record demand and cheap freight rates, traders said.
Japan's shipping circle endorses Sea Asia 2011 Japan threw its weight behind Sea Asia 2011 on Tuesday, with senior figures in the Japanese shipping industry endorsing the event.
New rail product from DB Schenker links Oslo and Narvik DB Schenker's new product connects the Norwegian capital Oslo to the Arctic Circle town of Narvik. The Norwegian national company Schenker AS now offers regular rail transports on ...
More transit permits and carnet TIR in Turkey Türkiye Odalar ve Borsalar Birligi ' the Union of Chambers and Commodity Exchanges of Turkey - reported that it issued 8.09% more transit permits and 11.1% more carnet TIRs...
Freeposts for Lockwood Following a number of recent contract wins, Derbyshire (UK)-based Lockwood Haulage Ltd has increased the size of its trailer fleet by buying eight new Freepost and two new Euroline...
Secondhand sales hit $75bn in 2010 Value of tonnage that changed hands last year is four times greater than recorded in 2009
Ample tonnage keeps Middle East VLCCs on even keel The market for very large crude carriers taking cargoes from the Middle East to Asia is busy, but the continued availability of ships is keeping rates more or less flat
Baltic Dry Index falls again to close at 1,453 The Baltic Dry Index continued its slide yesterday, dropping 27 points to 1,453
Opinion divided on prospects for charter rates German owners bullish about year ahead but others remain cautious as overcapacity looms
Capesize rates crash to two-year low Sector struggling to absorb the growing number of new ships competing for business on the world's largest trading lane
Korea Line faces bankruptcy as funds dry up Analyst warns troubled shipowner has nine months until cash runs out
Deutsche Bank sounds positive note on ship finance Three big ticket deals in the latter part of last year evidence of shipping's get up and go
Bill for Somali piracy could hijack global economic development Substantial economic losses from rerouting and reduced traffic on the Asia-Europe route could hit $30bn
Let us put modern shipping squarely in the public eye The operation of a merchant ship in the contemporary world could provide an excellent subject for some interesting and entertaining television for the majority of the population, who know very little about the industry
Record newbuilds depress bulk sector further Vessel oversupply amplified by flash floods in Australia as cargoes are withdrawn from the charter market, leaving rates at operating cost levels
Concerns over ripple effect of coking coal disruptions Three weeks after the Queensland floods started, the biggest concern is how long damaged mines and railway lines to ports will take to get back and running once again
Unacceptable hold up Delays over the ratification of MLC 2006 could have a knock-on effect on the IMO's pending STCW convention
Safe Bulkers picks up newbuild in panamax renewal drive Inks third deal in last two months
Chinese yards churn out record bulk newbuilds Yards built more than half of the record 78.3m dwt of newbuilding deliveries
Frangos settles epic Haji-Ioannou 'gifts' feud Shipowner believed to have paid 'a very substantial sum' to end 17-year dispute
Brisbane port remains closed Maritime Safety Queensland orders port be kept closed to shipping
FMC tightens alliances data disclosure rules Lines told to disclose detailed and timely data about their fleet deployment decisions
Crew seized in robbery off Nigeria freed Three seafarers taken hostage in attack off Nigeria released
UK safety body seeks industry funding CHIRP approaches shipowners and insurance interests for sponsorship
Costamare posts debut dividend of $0.25 per share Payout consistent with company's stated policy as charter owners Danaos and Global Ship Lease suspend payments
Boxes diverted as strikes hit French ports Strikes disrupting operations at Le Havre and Marseille-Fos
Delmas quits Conbulk CMA CGM affiliate Delmas said today it is giving up its Conbulk Europe/West Africa general cargo service to refocus on the box sector.
US intermodal relief seen for CMA CGM DOMESTIC US groups served by French box carrier CMA CGM will have more intermodal transport options with the expansion of Trac Intermodal.
Alaska pipeline restarted - at reduced flow A CRUCIAL Alaska pipeline that supplies more than one-tenth of US crude was restarted today to prevent the system from freezing.
Textainer targets troubled Maruba's debt TEXTAINER, one of the world's largest box equipment lessors, is moving to recoup debts from troubled Argentine carrier Maruba.
Pirates catch and release tanker's crew THREE Filipino crew members kidnapped in a pirate attack on a tanker off Nigeria were returned this morning unharmed to the ship, its manager Millennia Maritime told Fairplay.
Is Iran at point of no return on Hormuz threat? SHIPPING groups have been warned by an insurance intelligence company that Iran is nearing a point of no return in its nuclear dispute.
Far East/US box trade surges by 17% US CUSTOMS data show that the Far East/US box trade grew 17% year on year in 2010.
Venezuela squeeze feared FEARS are growing among energy groups about major political risks in Venezuela because of its government's financial struggles, the insurance intelligence company Exclusive Analysis has warned.
Bright '11 seen for NOL SOLID profits ' but no records ' have been predicted for Singapore's NOL this year by a DBS Vickers Securities analyst.
FSL plans shopping trip FIRST Ship Lease of Singapore told Fairplay today it intends to add to its 23 vessels this year, after two years of non-expansion.
Dunkirk takes hit from refinery's closing DUNKIRK had a better idea today what the shutdown of Total's Raffinerie de Flandres cost the port.
Venture to focus on port and ship surveillance CASSIDIAN, security arm of Europe's EADS aerospace group, has formed a partnership with Germany's Atlas Elektronik that will focus on ship and port surveillance.
Japanese banks jump aboard ship financing JAPAN'S banks are joining Chinese counterparts in the ship financing market, a sector analyst told Fairplay today.
GasPort wins LNG deal at Port Qasim PAKISTAN GasPort Ltd has won a 20-year concession at an LNG terminal at Port Qasim.
Penning: UK auxiliary will probably escape axe UK SHIPPING minister Mike Penning has told Fairplay that the coalition government is now leaning against scrapping the Royal Fleet Auxiliary.
Fed Survey Signals Steady Recovery in 2011 The nation's economy steadily improved in December, and business contacts expressed a modestly optimistic outlook for 2011 in a survey...
Memphis Air Cargo Edges Up 2.3 Percent Cargo tonnage at Memphis International Airport grew 2.3 percent in November as slowing volume for FedEx Express helped give the...
SC Commission Airs Savannah Deepening Objections A commission representing South Carolina's interests in navigational issues on the Savannah River aired its objections to plans by the...
Freight Index Fell 0.3 Percent in November The Transportation Department's Freight Transportation Services Index, which measures monthly change in ton-miles, fell 0.3 percent in November from October...
Canadian Pacific Outlines $1 billion Spending Plan Canadian Pacific Railway will spend between $964 million to $1.065 billion this year for capital projects, saying the money will...
FMC Orders Increased Oversight of Vessel Alliances The Federal Maritime Commission is ordering three global vessel alliances to provide more timely reports on changes in vessel capacity...
Chennai Draws Congestion Surcharges Hapag-Lloyd said Wednesday it will apply emergency congestion surcharges on all containerized cargo moving through India's Port of Chennai. ...
HACTL Breaks Tonnage Record in 2010 Hong Kong Air Cargo Terminals Limited broke previous tonnage records in 2010 even as growth slowed in the third and...
Crowley Promotes Nickless Crowley Maritime promoted David Nickless to vice president of finance and planning for Crowley's shipping and logistics business line. ...
US, Mexico Eye Talks on Trucking A new U.S.-Mexico cross-border trucking program could be in place within four to six months, U.S. Trade Representative Ron Kirk...
India's Exports Jump 36.4 Percent India's exports jumped 36.4 percent in December to $22.5 billion, the highest year-over-year growth rate in 33 months, according to...
DP World Opens Pakistan Terminal DP World opened its new container terminal in Port Qasim near Karachi in Pakistan on Wednesday. The terminal marked...
French Port Strike Closes Le Havre Terminals All dockworkers and a large number of port staff in Le Havre joined a national strike Wednesday shutting down shipping...
Slow Growth Drives Need for 3PLs In today's slow-growth environment, customers expect their transportation service providers to help them attain a competitive advantage, and that involves...
TRAC Expands Trucker Chassis Program TRAC Intermodal extended its web-based TRAC Connect program to the South Atlantic. The program, which rents chassis to truckers by...
New York terminals close because of snow The Port Authority of New York and New Jersey said all terminals would be closed Wednesday because of a snowstorm. The port is to reopen Thursday with normal gate hours. No queuing of trucks is allowed on marine terminal roads, the port authority s...
Hellmann names Rausch U.S. VP of ocean Hellmann Worldwide Logistics has appointed Jane Rausch to vice president of ocean freight for the United States. Rausch has more than 20 years in the industry, including stints with CEVA Logistics, Kuehne + Nagel International and Axis Internationa...
Former NASSTRAC head Cutrona dies Joseph F.H. Cutrona, former executive director of the National Shippers Strategic Transportation Council from 1978-1998, died Dec. 25 at his home in Naples, Fla. He was 90. NASSTRAC provides education, advocacy and connections for professionals inv...
STB to hold hearing on rail competition The U.S. Surface Transportation Board said Tuesday it will hold a public hearing on May 3 to explore railroad industry competition and possible policy initiatives to promote more rail-to-rail competition. "I said last year that it was time for the...
Koch heads AA Cargo Europe, Mideast sales American Airlines Cargo has named Tristan Koch as managing director of cargo sales for Europe and the Middle East. Koch comes to American from British Airways World Cargo, where he served in a variety of senior positions, most recently as key globa...
MSC raises India-to-Europe rates Liner carrier Mediterranean Shipping Co. said this week it is raising rates on cargo moving from India to all parts of Europe by $200 per TEU, effective Feb. 1. The hike is applicable to northern Europe, Mediterranean and Black Sea destinations....
Improved hull reduces fuel use 10% Germanischer Lloyd said it has fine-tuned the design of a series of six 9,000-TEU ships in such a way that they will be able to reduce fuel consumption by 10 percent. The classification society said its FutureShip subsidiary, working with Chinese d...
Drewry: Liner focus returns to market share London-based Drewry Shipping Consultants said this week the liner carrier industry has returned to 'normal operating conditions' after a bumper 2010, meaning its has refocused on market share and away from individual profitability. In its latestCo...
Chamber eyes supply chain, U.S.-EU tariffs The U.S. Chamber of Commerce this year plans to develop recommendations for improving U.S. companies' connectivity to the global supply chain and push for a tariff-free zone between the United States and the European Union. Those were among the ke...
Chamber blasts 'card check' back-door path U.S. Chamber of Commerce leaders said Tuesday they are very concerned the White House is using the regulatory process in the absence of legislative mandates to alter union-organizing rules and other workplace issues at the expense of businesses. Th...
Crude advances on back of European debt crisis efforts 'Stronger market fundamentals, the economic recovery and a rash of oil- field problems are pushing us closer to $100'.
Prices firm in Fujairah Deliveries for distillates in Durban available for supply up to and including January 26.
MGO prices see double digits gains Congestion at loading terminals in Rotterdam.
February arbitrage volumes at 3.7 million mt Player predicts: 'The market will weaken for sure'.
Cosco shares surge on rumours of bunker acquisition Analysts point to fresh reports that shipping line could buy stake in Chimbusco.
Pirates attempt to seize fuel oil tanker Singapore bound tanker forced to take evasive action.
The path of least resistance As price prediction becomes more difficult, the importance of a proper hedging program becomes clear.
Asian bunker prices firming Average demand at key bunkering hubs, traders say.
MSC doubles bunker levy Increase will take effect from February 1, 2011 onwards, says company.
Australian supplier imports cargo to ease MDO tightness Cargo due to arrive in the third week of January, says IBS.
Box shipping trends 'precursor of a downwards spiral' A decline in freight rates 'inevitable' as carriers gear up to fight for market share in 2011, says Drewry.
Bunker avails in Japan 'stable' in January Local refiners to produce about 370,000-400,000 mt of bunker fuel for January, traders say.
Expansion fuels Sinopec Zhoushan bunker sales in December Sells over 100,000 mt of bunkers in December.
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