Shipping to feel the pinch as EU banks curb lending Bank lending to the shipping industry is set to shrink in the coming months as low freight rates and the eurozone crisis will prompt a number of players to reduce their exposure to the seaborne sector, Citigroup's shipping chief said on Friday.
Dry shipping prospects set to remain poor, says Citigroup Prospects for dry shipping are set to remain poor for two to three years as the sector struggles with a glut of vessels, while crude tankers face more pain in 2012 as economic problems add to supply pressures, Citigroup's shipping chief said.
Green Cargo wins new contracts Green Cargo, a transport and logistics company owned by the Swedish state, recorded an operating income of EUR 7.8 million (-4.2%) in Q3. 94% of freight trains reached customers wi...
175 Volvo trucks for Sweden's PostNord Volvo Trucks has won an order from PostNord for the delivery of 175 trucks. The units will enter service before the end of the year. PostNord has more than 3,000 trucks and is thus...
AERS launches intermodal Stuttgart-Geneva train AERS Rail Services Deutschland launched an unaccompanied intermodal rail/road train pair between Stuttgart's Kornwestheim Ubf terminal, and Geneva CT. The 320 m train will initiall...
Traxon Europe becomes part of Champ Cargosystems Champ Cargosystems, a provider of integrated air cargo solutions, has acquired Traxon Europe, a leading provider of electronic communications solutions to the air cargo industry. T...
Korean Air Cargo launches mobile website With the launch of Korean Air Cargo's mobile website (mcargo.koreanair.com), Korean Air now offers the most convenient and accessible cargo service to customers worldwide - anytime...
Hahn airport upgrades runway without interrupting flights The Germany construction company Thomas Bau has upgraded a part of runway A at Frankfurt Hahn airport over the past weeks, providing more than 3,000 t of tarmac to refurbish the su...
Seven new directors join UK P&I Club board Seven directors were elected to the board of the UK P&I Club at its recent AGM, namely Ibrahim Güngen, CEO of Ankara-based Güngen Maritime & Trading, Grahaeme Henderson, vi...
Luka Koper posts container handling record Luka Koper achieved another milestone that underscores its leading position among container terminals in the Northern Adriatic, when it handled its 500,000th teu of the year on 8 N...
Merger of the big three Japanese shipping lines? Koichi Muto, the president of MOL, has said that the idea of a merger between his company and NYK as well as K Line could be an option if the situation is going to deteriorate furt...
8,000 teu Maersk "Tubul" makes first call at Ukrainian port The 8,000 teu vessel "Tubul", operated by Maersk Line on its Far East-Mediterranean/Black Sea service, was the first container vessel of this size to call at a Ukrainian ...
FedEx expanding in France The US integrator and CEP group FedEx recently opened a new branch in Souffelweyersheim near Strasbourg (France). The 2,400 sqm facility was previously used by the French CEP servi...
Loxxess investing EUR 7.5 million in Aurach Loxxess, a German logistics company that specialises in complex outsourcing projects for industry and trade, has opened its expanded logistics centre in Aurach (Germany). With an i...
Damco reports good results The logistics and SCM service provider Damco increased its year-to-date ocean freight volumes by 14% over the same period in 2010, which is well above the market average. Airfreigh...
Pacific supramax rates collapse pulls down Atlantic in its wake US Gulf trade is 'only market left', says broker
Sierra Leone ships first iron ore cargo in 30 years Chinese investment driving 20m tonnes per year mining project
Oil majors target Libya's untapped gas Huge potential going largely unrealised, says energy risk expert
Eni targets the world Oil giant's growth strategy includes West Africa, Asia and the Arctic
FPSO the choice for smaller projects Materials submitted to environmental authorities by Eni's Australian arm provide a glimpse into project planners' thinking on exporting oil from the Kitan field
MOL to sit tight for next two years Japan's biggest shipping company is buoyed by LNG and car carrier businesses, resilient in dry bulk and waiting out the tanker market
MOL inks deal to build four LNG vessels in China Up to 80 engineers will be checking on Hudong-Zhonghua workers at peak period
Dockwise sees slight improvement in revenues amid 'difficult conditions' Dutch firm to sell yacht transport arm DYT
MCA considers Fred. Olsen criminal prosecution Records of officers' hours faked on cruiseship
Suezmax earnings slip back below operating cost levels Average daily returns in spot market under $10,000 per day
Dutch shipowner to flag out over ban on armed guards Others announce they will flout the law, deploying armed guards regardless
Neglect a crane at your peril UK P&I Club and Lloyd's Register produce pocket guide to checking lifting appliances
Now that you mention it Shipping has its topics that everyone is familiar with, but which go with nary a mention
Dublin pins future port growth on Long term draft plan suggests ro-ro freight will remain the largest component of port's traffic to 2040
Seatruck to replace ro-ro fleet between Liverpool and Dublin Ferry operator believes freight-only unaccompanied set to grow in 2012
Melbourne set to run short of capacity by 2015 Australian ports need more competition to spur productivity and investment, says ACCC
China LNG imports treble since 2009 LLI data identifies Nigeria and Trinidad & Tobago as main sources of supply
LLI scoops two UK Professional Publishers' Association awards Judges say site is 'appealing, a pleasure to use, and easy to comprehend'
France to head West Africa anti-piracy effort Training and spotter planes provided for local armed forces
Feared surge in Somali piracy fails to materialise Compared to this time last year attacks and hijackings are down significantly, despite the end of the monsoon season
Capesize rally as iron ore demand returns But appetite of China's mills may dissipate if steel prices continue to drop
James Fisher loses nuclear carrier contract after 40 years Serco secures PNTL fleet after tender process
General Maritime resolution to spill into next week Tanker company expects to file full third quarter accounts 'on or before' Monday
Noble Group tries to calm markets after chief executive exits Singapore-listed trader's market value plunges following poor quarterly showing
HHLA warns of risks while forecasting strong full year results Threats include excess capacity in the North Range of ports in Europe, economic downturn and delay in dredging the Elbe
MPC Capital stays in the black KG fund points to strict cost cutting as it forecasts future stability
Ross rushes in Wilbur Ross has invested heavily in shipping, but there is no telling how long it will take for there to be a rebound in the global economy
Ocean Tankers fixes VLCC rate at fresh high on record cargo volumes Rising market expected to continue on reduced ship supply in Middle East
HHLA sees growing risks HAMBURG container terminal operator HHLA confirmed its full-year growth targets today but warned of growing downside risks for container traffic
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
Profits rocket, but Dockwise sees soft 2012 DUTCH heavy-lift operator Dockwise revealed today it had more than doubled its net profits in 3Q2011
APM to build reefers in Chile APM HAS reportedly announced plans today for a $170M a reefer container factory in Chile
DCI profits surge INDIA'S government-owned dredging company today reported a soaring 238% increase in profits for 3Q201
Privatisation outlook grainy MYSTERY surrounds the privatisation of Russia's government-owned grain exporter UGC, the Russian grain union said today
Bulker offers highlight sector overhang UTILITY Taipower was offered 75 Panamax bulkers in its latest tender, which IHS McCloskey said today was the highest number of offers in any such tender
ICTSI's profits surge 39% PHILIPPINES port conglomerate ICTSI has posted a 39% increase in profits in the first nine months of 2011
Mundra profits climb 30% ADANI-owned Mundra Port & Special Economic Zone today reported 29.4% growth in quarterly net profits to 2.73bn rupees ($57M) for the July-September quarter
Further strengthening seen for VLCCs VLCC SPOT rates extended recent gains on strong demand and limited availability of tonnage in the Persian Gulf, shipping analyst and brokers said today
Rena salvage speeds up PROGRESS has improved in the removal of oil from the stranded box ship Rena, Maritime New Zealand said today
UK orders full disclosure by Russia's Joint Fruit RUSSIA'S top banana trader Joint Fruit Co has been ordered by a UK court to disclose its worldwide assets and trade and cargo accords with Star Reefers
Arrest of green-flagged bulker sought LEGAL proceedings are afoot in Singapore to arrest Asia Union, a 1982-built Panamax bulker that is the focus of a demolition dispute
Winter demand kicks in for LR1s WINTER demand has finally kicked in for LR1 tankers, although rates are still insufficient to cover crewing and non-bunkering expenses, brokers told Fairplay today
Keystone pipeline delayed TANKERS serving the Gulf of Mexico have won a reprieve from new competition, as the US State Department pledged to seek a new route for the Keystone XL oil pipeline project
Trucker ABF Launches Ocean LTL Service ABF Freight System is extending its move toward international business with a less-than-containerload ocean offering the carrier will combine with...
Chinese Solar Manufacturers Dim Production Three major Chinese solar manufacturers are trimming shipment expectations for the rest of the year as a slowing global economy...
Consumer Sentiment Index Rises on Gas Price Fall U.S. consumers are entering the holiday shopping season with a more optimistic outlook than they had a month ago, largely...
Investor Ross Holds Off on Container Shipping Billionaire Wilbur Ross, who has profited from investments in distressed industries such as steel and textiles, is putting money into...
Genesee & Wyoming Traffic Rises 14.2 Percent Short-line rail operator Genesee & Wyoming increased carloads 14.2 percent in October, largely because of acquisitions and higher mineral and...
Analyst Says Container Line Mergers Likely Further consolidation of container shipping lines is likely as carriers seek to cut costs, expand market share and bolster balance...
Caterpillar Brings Back Some Production from Japan Caterpillar says it will shift some manufacturing from Japan to North America to bring production closer to customers in the...
Japan Agrees to Join Trans-Pacific Trade Talks Japan's decision to participate in negotiations on the U.S.-led Trans-Pacific Partnership free trade agreement has angered the country's farmers and...
Arrow Trucking Employees May Get Additional $2 Million More than $2 million in bankruptcy estate assets may be distributed to 676 former employees of Arrow Trucking, a flatbed...
Asia-Europe Rates Plummet 6.5 Percent The Shanghai Container Freight Index of spot rates tumbled this week to a record low, led by a 6.5 plunge...
South Carolina Reverses Path on Savannah Port Project The Georgia Ports Authority's long-pursued plan to deepen the Savannah River cleared a major hurdle Thursday after a South Carolina...
Racing Toward Efficiency At 3,000 feet long and 700 feet wide, Skechers' new 1.8 million-square-foot distribution center in the eastern end of Southern...
Taking Automation One Click at a Time How quickly is the supply chain changing? As recently as the 1990s, companies would optimize their distribution networks every five...
Capacity, Next Year Are shippers staring at the possibility of significant capacity being laid up by container lines and non-operating shipowners next year?...
Volatile View Barely a month into retirement, Ron Widdows looks like a relaxed man. It's the look of ease, a kind of...
Spoiled Shrimp Leads to a Raw Deal Q: We're involved in a claim for $117,000 on a load of imported frozen raw breaded shrimp. We've been doing...
Maersk Invests $170 Million in Chilean Reefer Box Plant A.P. Moller-Maersk is building a $170 million Chilean factory to manufacture refrigerated containers to keep pace with Latin America's booming...
Lufthansa Cargo Traffic Decline Slows to 3.1 Percent Lufthansa Cargo carried 3.1 percent less cargo in October than a year ago, an improvement on the two previous months,...
ICTSI Profit, Cargo Volume Surge Surging throughput helped push International Container Terminal Services Inc. to an 18 percent gain in net profit through the first...
Dockwise Profit Falls 40 Percent on Higher Revenue Dockwise's third-quarter profit dropped nearly 40 percent to $8 million from $13.1 million a year ago, but the heavy-lift carrier's...
MCI to build reefer factory in Chile Maersk Container Industry (MCI), which is an operating unit of the AP Moller-Maersk Group, is ploughing about USD170 million into a reefer container venture in ...
Purfresh signs up Interfresh US-based Purfresh, which provides purification and protection systems for the movement of perishable products, has signed a contract with the international transport ...
Isotank order more Quick-Locks The Antwerp-based Container Quick Lock NV has reached an agreement with UK specialist logistics supplier, Isotank Services, for the supply of a further batch of ...
ITF warns of 'catastrophic effect' of on board exploding reefers Commenting on the recent alarm about the potential fatal consequences to operatives and dockers from a batch of rogue Vietnamese-serviced reefer containers, the ...
Hainan PO to go against grain with new transpac loop? Chinese carrier Hainan PO Shipping is said to be adding a new transpacific service - a move which contrasts with fellow niche carriers who have been exiting the ...
Schroders: serious eurozone recession in 2012 City of London-headquartered, global asset management group Schroders, has reassessed its forecast for the 17-member eurozone after what it calls the 'extraordinary ...
Kenya-Ethiopia road deal concluded The Governments of Ethiopia and Kenya have agreed a near USD750 million deal to improve highway connections between the two countries. A key aspect of the arrangement ...
Maersk grows its market share in the Asia/Europe tradelane Maersk's Container Shipping Division appears to have significantly increased its market share in the ailing Asia/Europe tradelane in Q3 11. According to financial ...
Ocean carrier schedule reliability still improving
Turkon ship grounded off Greek island A Turkon Line boxship has grounded on rocks off the Greek island of Syros while en route to Salerno on the carrier's North Europe to Mediterranean liner service ...
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.
PO Shipping adds new TP loop
MSC starts matchback system in Belgium Mediterranean Shipping Co.'s Belgian branch has set up a new system to encourage inland matchbacks of its containers allowing importers, exporters and truckers to round-trip into Antwerp.
ITF concerned about exploding reefers on ships
Braemar: Huge ships inextricably linked to bunker costs
Week ends steady in the Americas Trading was thin on Friday due to the Veterans Day holiday.
Estonian fuel producer to provide bunker fuel It plans to produce 230,000 tonnes of light fuel oil to be used as bunker fuel.
Oiltanking Partners releases Q3 financials Third quarter net income for the partnership was $13.8 million, in comparison to a net income of $7.8 million in Q3 2010.
Prices firm in Fujairah Limited avails in Durban.
Rotterdam prices rise Market busy in Hamburg.
Norwegian operator sees bunker costs climb by 19% But fuel consumption dips 1% in terms of distances sailed.
Shipping 'undermining' moves to cut GHG emissions 'Market barriers' mean bunker savings are being ignored, says Europe's Commissioner for Climate Action.
ISObunkers wins new military supply contract US Army Contracting Command says deal was signed in September.
Shipping players repeat call for 'global' regulations to cut CO2 UN Climate Change conference should give IMO a 'clear mandate' to continue its work in cutting emissions.
Poll supports review of statutory flash point limit Nearly half of respondents in Bunkerworld poll think it would be safe to reduce current 60'C limit.
Asian bunker prices firming as week ends Demand mixed at major Asian bunkering hubs on Friday.
FSL Trust, Daxin reach 'out-of-court settlement' As part of the settlement, Daxin will pay FSL Trust a settlement sum of $5 million.
Brightoil in $75 million acquisition Acquisition will add 'new dimension' to the growth of its business, says Chairman Dr. Sit.
Ship operators urged to prepare for 3.50% global sulphur limit Supplier says it has 'rigorous systems and processes' in place to ensure detailed documentation on delivery.
Transfer of bunker fuel from Rena at 'stable rate' Around 300 mt of bunker fuel remains inside Rena's submerged tank.
NZ supplier wants to resume bunker ops in time for cruise season Its bunker tanker has been deployed in the Rena salvage operations.
Aegean in 'solid shape', says analyst Raises ratings on Aegean's shares to 'Buy' from 'Hold'; expects the company's earnings to double in 2012.
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