Boat Asia 2011 opens large and luxe Boat Asia 2011 opened yesterday, larger and more luxurious with several more firsts under its belt.
Norden keeps outlook after Q1 profits fall Danish shipping line D/S Norden reported a smaller-than-forecast drop in operating profits for the first quarter, hit by a steep drop in dry-bulk spot rates, and said 2011 remains a challenging year. Earnings before interest and tax (Ebit) fell to US$30.0 million in January-March from US$68.6 million in the first quarter last year, the dry cargo and tanker shipping company said yesterday.
Call for third Hong Kong runway The Hong Kong Association of Freight Forwarders and Logistics (Haffa) believes that the two runways at Hong Kong airport, the world's largest airfreight hub, will only be able to h...
Transaero fleet expands to 60 aircraft Russia's Transaero Airlines has increased its fleet to 60 aircraft after taking delivery of new generation Boeing B747-400 wide-body long-haul equipment. With its 15th aircraft of ...
AA Cargo adds direct uplift between Finland and Chicago American Airlines Cargo (AA Cargo) has launched a new direct service between the Finnish capital Helsinki and Chicago IL (USA). The route, operated by B767-300, is the latest expan...
Railcargo Austria posts loss again Railcargo Austria, the railfreight arm of Austria's state railway OeBB, posted a loss of EUR 353 million in 2010. The result led to a consolidated deficit of EUR 330 million f...
Australian railway company orders new locomotives The rail service provider Genesee & Wyoming Australia has ordered nine 4,400 hp locomotives and plans to order more rolling stock and other facilities. This takes the company's...
Germany: increase in new truck registrations A total of 31,000 commercial vehicles were newly registered in Germany in April, 13.7% more than in the same month in 2010. The number of new tractors leapt by 48.5%, and...
Renault Trucks opens branch office in Tunisia The French commercial vehicle manufacturer Renault Trucks is opening a branch office in Tunisia called 'Renault Trucks Tunis. To date Ennakl Automobile Importeur was the official r...
The ITJ team and "Heidi J" awaiting you in Munich The ITJ and its editorial and sales staff would like to accord you a warm welcome to the transport logistic trade fair, the world's largest exhibition for transport and logistics w...
Martin Bencher Group opens new office in Sao Paulo The Martin Bencher Group, a Denmark-based professional shipping and forwarding service provider, opened a new office in Sao Paulo (Brazil) on 6 May. The facility is managed by Mikk...
Presented: Antwerp-Chongqing rail connection for cargo A rail connection for moving cargo between Antwerp and Chongqing (China) was recently presented in Antwerp (Belgium). The project was established in 2010 by POM Antwerp (Devel...
The European Marine Equipment Council elects new board The European Marine Equipment Council (EMEC) has appointed its new board as follows: Lars Gorvell-Dahll (Kongsberg) was chosen as president and Dirk Lehmann (Becker Marine Systems)...
Duisport and Currenta step up collaboration The duisport group (Duisburger Hafen AG) and the chemical park operator Currenta GmbH, a joint venture between Bayer AG and Lanxess Deutschland GmbH, want to intensify their excell...
Japan's shipping lines' prognoses for current financial year down The three Japanese deepsea shipping lines, NYK, K Line and MOL, are all expecting to have their 2011 profits dented by the impact of the earthquake that hit the country in Mar...
Maersk Line to raise rates on Asia-Europe route The Danish carrier Maersk Line is raising the rates on the Asia to Europe route by USD 250 per teu on 1 June 2011. The increase will apply to all dry and reefer cargo moving from a...
VW wants to take over MAN entirely Germany's Volkswagen corporation (VW) and Scania want to take over the commercial vehicle manufacturer MAN. VW already owns around 30% of MAN's shares and has made a suitable takeo...
Pick-up in Indonesia coal demand keeps supramaxes afloat Bright spot in a languishing market is pickup in coal demand bound for India's east coast
Transatlantic medium range tanker rates set to fall further Earnings nudge down as ballasters crowd into northwest Europe
Norden predicts daily MR tanker earnings of $13,000 Denmark's Norden, which has 37 product tankers alongside its dry bulk fleet, has predicted that earnings for its tankers will total around $13,000 per day in the next two years
Panamax charter rates lose ground Prices fall despite optimistic mood from dry bulk owners at Mare Forum Italy
China eyes more Arctic business Norwegian shipowner also keen to encourage two-way traffic on northern sea route
MAIB warns of danger in lifeboat davits proximity switches Malfunction identified as cause of fatal accident on car carrier Tombarra
Maersk boss cautions against fair-weather investments Weaker players who seek short-term returns can undermine market, but are then more likely to disappear
Teekay Offshore Partners promises bigger dividends Boost to cash distribution in the first quarter
Teekay LNG Partners hints of asset acquisitions Activity picking up in LNG sector, says chief executive Peter Evensen
Contract cover allows Teekay Tankers to sustain dividends Company achieves $0.25 a share against weak spot market
Wilh. Wilhelmsen profits ride a rollercoaster First quarter surges 31% year on year but is down sharply on last three months of 2010
Hapag-Lloyd in the red as soaring bunker costs hit earnings Carrier warns of tougher competition to come in second quarter
Higher revenues for Aegean but profits fall Bunker operator posts solid first-quarter results, though rising fuel costs hit operating profit
APMT hit by political and climatical events Unrest in Arab countries and Japan's quake cost terminal operator $12m
Teekay losses double amid low spot rates and tonnage oversupply Diversity prevents company from being worse hit as 'challenging' year begins, says new chief executive
Gratsos urges owners to insist on 'more profitable' fuel-efficient ships Yards 'need a kick' to abandon gas-guzzling designs, claims chamber president
MISC full-year profits more than double from previous 12 months Malaysian shipping group posts improved bottom line after selling ships and subsidiary
HCI Capital and Lloyd Fonds end first quarter still in the red KG companies continue to suffer
Analysts back Transocean despite weak results Dahlman Rose blames perception of potential Deepwater Horizon liability for low ratio enterprise value
Time is ripe for new LNG pricing model in Japan The case for cutting the link between natural gas and oil prices may seem incontrovertible, but there is is no alternative mechanism on the drawing board
Sale of Malta Freeport proves tricky As CMA CGM seeks buyer for transhipment hub, wisdom of shipowners investing in ports is questioned
Croatia's shipyards struggle to find investors Efforts to find backers hampered by constraints imposed by EU membership
Amlin concerned over Netherlands-based insurance unit While London marine market rates rise, ACI's prospects are poor as premium tumbles in first quarter
STX Pan Ocean reports $48m loss South Korean shipping company blames dry bulk market depression and rising fuel costs for hitting sales increase of 4.7%
Norden weathers dry bulk 'perfect storm' Hedging strategy helps company return first-quarter net profit of $69m
Hanjin Shipping sees net loss of $97m Asia-Europe competition hits boxship business, but bulk operations record $17m operating profit
ICTSI net profit jumps 25% to $28.5m Growth due to economic recovery in key markets and solid performance in Asian ports
Two killed in yard blast TWO MEN were killed in a shipyard blast in western Singapore this afternoon
Qatargas threatens Europe QATARGAS has threatened to redirect LNG supplies away from Europe if importers there continue to rely on spot markets, IHS World Markets Energy reported today
StealthGas selling four ships NASDAQ-listed StealthGas is selling four LPG carriers for a total $26M as it works to purge older vessels from its tanker fleet
Norden defies its gloomy '11 forecast DS NORDEN today reported a 10% first-quarter rise in profits, defying its own February prediction of "a mediocre year"
LNG unit powers Repsol REPSOL of Spain said today its net profits rose in the first quarter, powered by a 238.2% rise in operating income from its LNG division
France to replace rescue tug FRANCE is planning to move a rescue and assistance tug to the Dover Strait after the UK decided not to renew the charter of another rescue tug covering the area
STX Europe swings to black STX EUROPE returned to profits in the first quarter, despite a drop in revenues
STX Pan Ocean slips STX PAN Ocean said today it lost $48.7M in 1Q2011, reversing profits of $20.17M for that quarter last year
IEA turns negative TODAY'S monthly forecast from the International Energy Agency has trimmed the oil demand outlook, citing higher pump prices and weaker economic growth
LNG shipping feels impact from Medgaz SPAIN'S LNG imports dropped 9% in April, the first full month that the alternative Medgaz pipeline has operated, IHS World Markets Energy reported today
MISC loses $102.7M MISC SAID today that it lost 307.9M ringgit ($102.7M) for its fourth quarter ending 31 March, reversing net profits of 196.4M ringgit for the same period last year
Hanjin to cut after losses HANJIN Shipping said today it plans "cost-cutting measures" after revealing operating losses for the first quarter of $11M - despite total sales of nearly $2Bn
Seven bid for Vanino RUSSIA'S FAS anti-monopoly office has said seven companies have formally applied to bid in the auction - closing today - of the government's 55% port shareholding in Vanino
Tallinn boosts volumes ESTONIA'S port of Tallinn has announced that it handled 3.63M tonnes last month, a 12.7% rise year on year
Wilh Wilhelmsen posts jump in profits NORWAY'S Wilh Wilhelmsen Holding today said its net profits rose to $22
Panama Canal Receives Bids for New Bridge The Panama Canal Authority received six proposals Tuesday from design and engineering companies or consortia around the world for the...
Railroads Bulk Loads Fall, Intermodal Grows Carload traffic on North America's largest railroads slipped 1 percent in the most recent week, extending a slide the rails...
Senators Propose Extending TIGER Grant Program A bipartisan group of senators is proposing legislation to extend the Department of Transportation's TIGER grant program through fiscal 2018,...
Panalpina Adds Second Hong Kong-Huntsville Flight Forwarder Panalpina is expanding its scheduled freighter operations through Huntsville, Ala., with a second weekly service connecting the city to...
DHL Converting Aircraft for Europe Fleet DHL Express will modernize its fleet in Europe with the acquisition of 13 A300-600 passenger aircraft and conversion of the...
Cargo Rebounds at Hong Kong Airport Hong Kong International Airport's freight volume 6.2 percent in March over the same month a year ago as expedited shipping...
Retail Sales Rise 0.5 Percent in April Retail sales rose for the 10th straight month in April, driven by higher prices at gasoline stations and grocery stores,...
Greenbrier Taps Eitzen to Head Rail, Marine Units Railcar and barge manufacturer Greenbrier Companies named Mark Eitzen as vice president and general manager of its Gunderson factory in...
Japanese Exports Still Declining After Disasters Japan's exports to the rest of the world are still sinking in the wake of the devastating earthquake and tsunami...
Japanese Freight Forwarders Expand in Indochina Two Japanese international freight forwarders expanded their operations into Indochina, a Southeast Asian region sandwiched by two Asian giants --...
ILWU Working to Keep California Ports Competitive The International Longshore and Warehouse Union has a reputation of militancy, but a Southern California union official said recent history...
Hanjin Container Losses Grow to $28 Million Hanjin Shipping lost $28 million on container operations in the first quarter, compared with $23 million a year earlier, as...
NYK to Charter New OOCL Ships in Grand Alliance Upgrade NYK will charter another four vessels with capacities of 13,000 20-foot equivalent units from OOCL under a new agreement between...
India's Tariff Authority Orders Port Rate Reduction India's Tariff Authority for Major Ports ordered a 35-percent reduction in the scale of rates currently applied by Chennai Container...
CMA CGM Discussing Sale of Stake in Malta Hub French ocean carrier CMA CGM is in talks over the sale of a minority stake in Malta Freeport Terminals, one...
Hapag-Lloyd Raises Trans-Atlantic Rates Hapag-Lloyd announced general rate increases effective July 1 for all cargoes and container types for the North Atlantic and Europe-Mexico...
Hapag-Lloyd Slides to $31.8 Million Loss Hapag-Lloyd fell to a $31.8 million loss after interest and taxes in the first quarter despite an improvement in operating...
Cido sale ignites buzz Market chatter fingers AP Moller-Maersk and Navios as top contenders in acquisition of 20 Asian products tankers.
StealthGas cleans house Harry Vafias at the helm as Nasdaq-listed owner sheds four LPG carriers in anticipation of reinforcements.
Offshore helps STX Europe Korean-owned yard group boosted in first quarter by increased demand in oil and gas support vessel sector.
Teekay margins squeezed Peter Evensen-led tanker player's woes continue as first quarter deficit spirals downwards.
Navios repeats notes trick Angeliki Frangou-led tanker owner plots $105m swoop to fund the last of its seven VLCCs.
TOO war chest intact Teekay Corp shuttle tanker wing poised to pursue growth with $380m worth of firepower following first quarter win.
Tough for Teekay LNG Tanker and gas carrier arm of Teekay group sees Q1 profit slashed as exchange loss hits home.
Teekay Tankers tops bets Bruce Chan-led owner toasts lending coup and also thanks Libyan trouble for stronger than forecast first quarter.
Hurtigruten stays upbeat Record passenger numbers in the first quarter but Oslo-listed company remains in the red.
Olympic back at Kleven Stig Remoy-led owner contracts third supply ship at Norwegian shipyard.
Yard sale helps MISC Malaysian shipping giant's annual profit boosted by Malaysia Marine listing, but fourth quarter proved a struggle.
'No Maersk LNG bid' Carsten Mortensen says Danish owner will not be in the running to buy rival's gas ships as it sights bulker and tanker openings.
Olsen loses wind charter Oslo-listed company has $40m wind vessel contract blown away but gets $1.35m compensation.
Two killed in blast Workers die in explosion on barge at Haosen Marine in Tuas area of Singapore.
U-Ming earnings slump Taiwanese bulker owner's profit slashed in first quarter as revenue falls.
Oslo blow for quoted pair Jinhui and BW Offshore slip off prestigious Oslo Bors Benchmark Index to be replaced by a couple of companies from the Fredriksen Group.
OOCL expanding Scandinavian loops Liner carrier OOCL said Thursday it is adding two calls and capacity to its two-loop Scandinavian Express (SBX) service. The line said the SBX2 loop will add a call at Kotka in Finland and a second call in St. Petersburg to give a revised rotation...
MOL's Q1 transpacific reliability suffers MOL's Q1 transpacific reliability suffers MOL's Q1 transpacific reliability suffers Liner carrier MOL said this week its on-time performance worsened in the first quarter on the transpacific and transatlantic trades, but improved between Asia and ...
NYK to charter 4 of OOCL's new big ships NYK to charter 4 of OOCL's new big ships NYK to charter 4 of OOCL's new big ships NYK Line said Thursday it has entered into an agreement with fellow liner carrier OOCL to charter four of the 13,000-TEU ships OOCL has ordered in recent weeks. OOCL...
Hanjin sinks to $28 million Q1 loss Korean container line Hanjin Shipping suffered a $28 million first quarter operating loss, despite revenue increasing 19 percent to $1.6 billion. The loss was more acute than the $23 million the line lost in the first quarter of 2010. Hanjin's con...
Hapag-Lloyd books $23 million Q1 profit German container line Hapag-Lloyd said Thursday it made $22.9 million (16.1 million euros) in the first quarter, a 140.3 percent increase on the same period in 2010. Revenue for the line increased 16.5 percent to $2.1 billion (1.5 billion euros) a...
Japan/North America capacity drops Allocated capacity from Japan to North America has fallen markedly since early April, according to figures from American Shipper research affiliate ComPair Data. Allocated capacity -- that is, ComPair Data's estimate of the portion of vessel capac...
'A cultural change'
Ports and Terminals
Carriers' 1st quarter Hapag-Lloyd books $23 million Q1 profitGerman container line Hapag-Lloyd said Thursday it made $22.9 million (16.1 million euros) in the first quarter, a 140.3 percent increase on the same period in 2010. Hanjin sinks to $28 million Q1 lossKorean c...
US trade grows U.S. exports up 4.6% in MarchThe U.S. Commerce Department on Wednesday reported the country's exports of goods and services in March increased 4.6 percent from February 2011 to a record $172.7 billion. The monthly increase in the export value for ...
Fujairah market softens In Cape Town deliveries available for supply up to and including May 26.
Move to subsidise fuel costs under attack Help for European fishing fleets will encourage 'fuel intensive, environmentally damaging fishing practices.'
Prices fall in Rotterdam and Hamburg Some suppliers fully booked in Piraeus.
Onshore fuel oil stocks slightly lower Arbitrage volumes to slacken in June.
Hedging deals boost Norden's Q1 results But 2011 'is still expected to become a challenging year'.
LNG supply network 'will come quickly' Small Norwegian company that has pioneered LNG supply to ships demonstrates potential for more widespread use.
Wilh. Wilhelmsen back in profit despite rising bunker prices 'The underlying market development is positive,' says Jan Eyvin Wang, president and CEO of WWASA.
Captain was playing video games in run-up to grounding Tugboat spilled 6,400 gallons of bunker fuel after hitting Exxon Valdez reef.
Double-digit losses in key Asian ports 'Average' demand across key Asian bunker hubs on Thursday.
Marine biofuel programme takes off in France Ennesys SAS working in project financed by state authorities to produce marine biofuel for fishing vessels.
TEN posts narrowing net profit in Q1 Company's aframaxes and product carriers 'hard hit' by rising bunker costs.
NYK fleet introduces improved version of IMO's EEOI Nippon Kaiji Kyokai (ClassNK) issues Prime Ship-GREEN/EEOI to NYK fleet.
Mexican bunker supplier secures funding for expansion Fund to be used for installation of additional infrastructure.
Japanese company starts study on solar, wind power for large vessels 'Aquarius System will play an important role,' said Fukuoka-based Eco Marine Power.
Rising bunker prices hit TBS International earnings 'Continued weakness' of freight rate, together with other factors further affect TBS earnings.
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