Vale's M'sia hub to handle 30m tonnes iron ore a year Brazil's Vale will spend US$1.3 billion in the first phase of its transhipment project in Malaysia's Perak state that can handle 30 million tonnes of iron ore yearly to meet global demand, a Malaysian official said yesterday.
S'pore marine fuel sales hit new high Marine fuel sales in Singapore, the world's largest bunker port by volume, hit an all-time high of 3.64 million tonnes in January, up 4.3 per cent from a month ago, official data showed yesterday.
China may build a rail 'canal' in Colombia China is in talks to build a 'dry canal' linking Colombia's Atlantic and Pacific coasts by rail, Colombian President Juan Manuel Santos was quoted as saying on Sunday.
STX stock falls after missing cruise ship order
Freight rates for LNG seen falling on warm weather
Union Pacific Railroad invests USD 4 million plus in track upgrades The US rail transport service provider Union Pacific Railroad announced that recent track improvements will allow it to increase train speeds in western Wisconsin communities,...
UK: Eddie Stobart orders 225 trailers The British transport service provider Eddie Stobart has added 225 new curtainsider trailers from Schmitz Cargobull. The new units will partially replace the company's Irlam fleet,...
IRU signs new agreement The International Road Transport Union (IRU) has signed a cooperation agreement with the Organisation of American States to improve competitiveness across its member states. The do...
Fresh tanker sales reflect falls in secondhand prices Elderly tonnage loses as much as 20% in value over last three months
Supramax values plunge by a third as sales set lower benchmark The collapse of Korea Line Corp and a fall in bulk carrier charter rates drag prices downwards
Dry bulk values to fall 20% with recovery in mid-2012 The price of bulk carriers is set to fall by 20% to levels last seen in the early 2000s, before the dry bulk boom
Withdrawal of relets to boost rates for gas carrier fleet Very large gas carrier relets have kept the spot market well supplied with available vessels, but brokers now expect a pick-up as these are withdrawn from the market
Round Hill buys Barbaro medium range tankers Round Hill Shipping has been linked to the purchase of two medium range combined chemical and oil tankers owned by Italy's Barbaro family for a total price of $59m-$60m
Korea Line sells new capesize in bareboat deal Financially troubled Korea Line Corp appears to be behind the sale of a three-month-old capesize vessel, which achieved a price of $62.6m
Colombia's Panama Canal rival dismissed as 'crazy' Engineers and investors say cost of transiting boxes through Atlantic-Pacific landbridge would be prohibitive
Nordic American slips into red Posts $809,000 loss for 2010 as higher operating costs eat into bottom line
Box lines make their case as renewal season sails into view Rate increases are being sought as shippers are told that demand is set to rise 7%-8% on transpacific trades despite overcapacity fears
TSA looks to tie up Pacific profits Member lines' message is loud and clear in the run up to contract negotiations
FMC steps up dispute resolution process Rapid response teams target contractual disputes in arbitration process that is much quicker than the traditional court system
Seatrade sees hope for reefership trade Specialised reeferships not about to disappear despite losing market share
Fredriksen to spin off Seadrill unit Plans to spin-off harsh environment drilling unit
US ballast fantasies The absence of federal ballast water treatment laws in the US has left a regulatory vacuum into which state lawmakers have entered
Terminal decline Projects to build container terminals in the UK should still go ahead even if their timelines are amended
P&I Clubs aim to boost underwriting profits Clubs "raising their game" in terms of greater financial discipline
Unions call for container safety laws Mandatory standards sought as new report identifies China as major weak spot
US beefs up ships discharge regime US coastguard to assist environmental agency in enforcing regulations
Danish warship captures pirate mothership Frees Yemeni vessel hijacked by Somali pirates and used as mothership
Rickmers Trust upbeat on growth prospects Recent orders for new boxships offer expansion opportunities for shipping trusts
Gulf Navigation to launch new VLCC venture Aims to net $310m over 10 years from new four-tanker subsidiary
Singapore bunker sales hit 3.6m tonnes in January Up 4% from December's volumes
Pirates seize Iranian-owned bulk carrier off Oman No word on condition of crew of 23, which includes 13 Iranians
Keppel FELS Brasil wins $299m order Delivery of two FPSO topside modules scheduled for fourth quarter of 2012
Varun Shipping posts $2.5m third quarter profit Reverses loss posted in the year ago period
Great Eastern scraps Greatship listing plans Company also reports 24% increase in third quarter profit
STX wins order for four bulk carriers Company confirms contract worth $160m but silent on details
Capesize rates edge up as owners hold back ships Owners staying out of the market until time charter rates claw to a point firmly above operating costs
Hanjin Heavy shuts Busan yard Move designed to break impasse with labour unions in dispute going back to 2009
The Week Ahead Big ships post rates gains ending 2011 falls
Aegean fights fraud claims NYSE-listed Aegean Marine Petroleum Network issued a stern rebuke today against class-action suits alleging securities fraud
Pool partners spar in court OVERSEAS Shipholding Group has secured an emergency order against Korea Line, one of its partners in the Clean Products International Pool, in a dispute involving the tanker Blue Emerald
Mississippi delays warned DRAUGHT restrictions on the lower Mississippi River might be tightened, which could severely hamper shipping, Fairplay was told today
Seafarer holds on for dear life A SEAFARER has been rescued after he was found hanging on to the anchor chain of an LPG tanker off the UK, according to the Maritime & Coastguard Agency
Rhine reopens after barge incident AUTHORITIES have reportedly reopened the Rhine to southbound shipping without restrictions, a month after an acid-transporting barge capsized near St Goarshausen
Gulf Navigation VLCC plans reported DUBAI'S only publicly traded tanker owner reportedly plans to set up a unit in Saudi Arabia to operate a doubled VLCC fleet
Russian millers await export boost RUSSIAN flour millers are waiting to see if the end of an embargo on flour exports will lead to surge in shipments out of the country
Bulker split off Sochi STORM waves split a bulker in two while it was anchored off Russia's Black Sea port of Sochi, with two from its crew of 12 reported missing today
NAT suffers huge earnings miss NORDIC American Tankers today revealed fourth-quarter losses that were drastically higher than predicted by Wall Street analysts
Finnish tonnage tax action urged HELSINKI was urged today to enact a new tonnage tax law quickly, lest the Finnish flag suffer
China foreign trade soars CHINA'S foreign trade surged nearly 44% in January from the totals of that month of 2010, IHS Global Insight reported today
Two rescued after collision TWO MEN have been rescued after they were knocked overboard in a collision between a box ship and trawler off the UK
Boskalis and unions brawl over Gorgon THE HOLING of a utility vessel working on Chevron's A$43Bn ($43.12Bn) Gorgon gas project in Western Australia has further stressed relations between unions and contractors
Rickmers swings to losses SINGAPORE-listed Rickmers Maritime Trust unveiled net losses of $28.55M for 2010 today, reversing $40.7M in profits recoreded the year before
Product tankers squeezed PRODUCT tanker owners playing the western spot market are being squeezed from all angles this week, Fearnley analysts said today
Diesel Price Climbs For 11th Straight Week The price of diesel across the United States climbed an average of 2.1 cents last week to $3.534 per gallon...
DOT Budget Jumps 66 Percent The Department of Transportation's budget would increase 66 percent to $128 billion under the president's proposed 2012 budget, compared with...
Obama Would Cut Army Corps Budget $1 Billion The Army Corps of Engineers will have nearly $1 billion cut from 2010 expenditures for civil works, and what money...
DHS Budget Increases 0.7 Percent The president's 2012 budget proposes a modest increase for the Department of Homeland Security, up 0.7 percent to $43.2 billion. ...
Administration Wants $2 Billion in TIGER Grants The budget plan President Obama sent to Congress would sharply expand the Department of Transportation's discretionary grants program, which covers...
Atlas Air Sales Rise 26 Percent in 2010 Fourth quarter and full year profit soared at Atlas Air Worldwide Holdings, fueled by strong air freight demand and tight...
Rickmers Maritime Profit Surges 31 Percent Container ship owner-charterer Rickmers Maritime reported a 31 percent increase in fourth quarter net profit and said it reduced its...
Survey Reveals Strong Support for Infrastructure Deal A strong majority of Americans want better roads and bridges, but they want someone else to pay for them, according...
Obama Seeks Six-Year, $556 Billion Transport Plan President Obama is asking Congress for a six-year surface transportation spending plan that would spend $556 billion, including a $50...
NY Delays Ballast-Water Rules New York state officials agreed to a 20-month delay of stringent rules governing discharge of ballast water from ships entering...
China Proposes Colombia Rail Link to Rival Panama Canal China is in negotiations over the construction of a rail link across Colombia to rival the Panama Canal. The...
Racing to Dig Deeper When Charleston, S.C., Mayor Joe Riley got a few precious moments in front of President Obama at a U.S. Conference...
Trucking Dashboard Freight shipping demand showed resilience in the fourth quarter, as consumers opened their wallets wider and manufacturing activity picked up,...
Truck Demand Remains Strong in 2011 C.H. Robinson Worldwide, the nation's largest truck freight broker, says the domestic shipping market's momentum from 2010 is extending into...
Has LTL Turned a Corner? The less-than-truckload industry is shrinking its way toward profitability as carriers struggle to emerge from three years of decline. ...
Peak Contracting Season 'Tis the season. No, not that season, the container shipping service contract season! By now, carriers either have made an...
Fearing the Slow Lane A year after the trans-Pacific slack season turned into anything but that, harbor truckers in Southern California are bracing for...
China's Economic Fallout Trouble is brewing in the trans-Pacific trade in the form of Chinese inflation, especially in the main southern manufacturing centers,...
Retail Sales Buoy Carrier Hopes American consumers are coming out of hibernation just in time for spring contract negotiations between trans-Pacific carriers and shippers. ...
A Transportation Fix I am well aware that Washington and the American public have been focused on recovering from the deep recession. As...
ACE's Winning Hand? A year ago, Customs and Border Protection promised to take a new route to completing the Automated Commercial Environment. Gone...
Security Casts a Wider Net Janet Napolitano is taking her message about global supply chain security on the road ' and across the oceans. The...
DOT Stacks Up for Intermodal Even before regulators consider bringing various "exempt" rail shippers under federal processes that allow them to file rate and service...
Shippers, Rails Square Off Over Exemptions What do a crushed stone supplier in Texas, automobile producers across the U.S. and the Washington state potato industry have...
A Little Help From GSP Two U.S. companies long embroiled in a fight with the Argentine government over its refusal to honor arbitral awards under...
The M&A Outlook The last five years produced a high, low and then a rebound in merger and acquisition activity in the transportation...
Southern Roots They are both good ol' boys from the Southeast who returned to native ground after years afield to take on...
Who would want to be a modern-day seafarer? Going to sea was already much less glamorous post 9/11, with the ramping up of port-restrictive security measures; but now it seems a young seafarer must also be prepared to run the gauntlet of rocket grenade-toting Somali pirates in some of the world's busiest tradelanes - and in addition the blood-curdling prospect of months of inhuman incarceration and barbaric torture
Demolition destiny Tankers, bulkers and an FPSO chopped in Alang while a battleship gets carved in Turkey as brokers digest $32m worth of market chatter.
Aegean fires back New York-listed bunker giant races to fight rising tide of investors who have joined a class action suit against the group and boss Peter G, among others.
TBS issues warning Bulker blues forces US-listed owner to examine asset values as it prepares for possibility of $195m impairment charge.
Boxships with benefits Are super-containerships helping your sex life, or is that just pants?
HERO taps Seahawk US offshore owner coughs up cash and shares to seize drilling rigs from bankrupt contractor Seahawk Drilling.
As good as it gets for P&I Rating agency says outlook is stable providing shipowner pressure for lower rates is restrained.
OSG scraps tanker New York-listed tanker titan poised to pocket $5.5m as US-flag unit hits the chopping block.
AHL remnants up for sale Parts of two tankers left unfinished by bankrupt US owner will be auctioned this week.
Island gets the hump Broken-down Korea Line products carrier in trouble after entering Caribbean whale sanctuary.
Golden eye Keep an eye on Hermann Billung-led Golden Ocean if you want to bag a bargain bulker, analyst says.
Drugs found in box Backpack could have been placed on Greek-managed Ital Lunare in Panama, US customs agency says.
Bulkers face 20% fall Asset values will plunge by one fifth as scrapping surge fails to prevent rate crash, Arctic Securities says.
Seafarer clings to chain Man overboard from LPG carrier found hanging on for dear life off the UK.
Probos sailing into history? Future of uniquely flexible ship type that proved a technical headache appears to be drawing to a close.
Rand adds tug/barge duo US Great Lakes owner snaps up Jones Act vessels from KKIS for cash and shares.
Rickmers recovering Singapore-listed trust sees fourth quarter bottom line buoyed by write-back on previously troublesome ship.
Ro-ro, trawler clash Finland's Birka Exporter suffers minor damage in collision with Dutch boat off the Netherlands.
NATS pays on loss New York-listed tanker owner still handing out dividend despite growing deficit in fourth quarter.
It's a lockout at Hanjin Seoul-listed shipbuilder may stop taking orders after long-running labour dispute forces yard closures.
Seadrill plots spin-off John Fredriksen-led driller turns to a familiar script with plans for harsh environment IPO.
Obama plugs export changes in Chamber speech The U.S. government's investment priorities need to be in innovation, education and infrastructure building so that the economy has the foundation for long-term growth, President Obama told the U.S. Chamber of Commerce last week. The government can...
U.S. pursues WTO disputes with China The United States on Friday asked the World Trade Organization to establish dispute settlement panels in two cases against China. One case addresses China's imposition of antidumping duties and countervailing duties on imports of grain-oriented fl...
U.S.-flag lakers move 3.4 million tons in January The Lake Carriers' Association reported U.S.-flag Great Lakes freighters carried 3.4 million tons of dry-bulk cargo in January, a 46 percent increaser over a year ago. The January float was also 18 percent better than the month's five-year average....
China rail minister removed in corruption probe China's Minister of Railways has been ousted in an investigation into government corruption, according to international media reports. Liu Zhijun has been suspended and put under investigation for "severe disciplinary violations" stemming from a co...
AgTC's Friedmann, carrier execs at conference AgTC''s Friedmann, carrier execs at conference AgTC''s Friedmann, carrier execs at conference Containerisation International'sannual Global Liner Shipping conference April 4-6 in London will discuss the issue of U.S. antitrust deregulation in the li...
Hapag-Lloyd restarts AES, adds Hamburg call Liner carrier Hapag-Lloyd said Friday it is restarting a transatlantic service linking New York with Hamburg and Antwerp. The German lineshelved its AES service(at that time a pure New York/Antwerp shuttle) in December due to slowing demand. The s...
Coast Guard chief wants 'proficient' members Coast Guard Commandant Adm. Bob Papp, delivering his first "State of the Coast Guard Address" on Thursday, said his service is "ready to meet mission demands, but facing real challenges." "We've had too many accidents lately -- we've had too many ...
Exports looking up U.S. exports increase 1.8% to $163 billion in December The Commerce Department's December 2010 U.S. International Trade in Goods and Services report, released Friday, showed that U.S. exports in December increased 1.8 percent from November to $163 ...
TTS delivers to Viking Line ferry TTS Marine AB in Gothenburg has signed a contract with STX Finland worth EUR 5.7 million for delivery and installation of roro equipment. The equipment will be installed on
Royal Caribbean orders from Germany Royal Caribbean Cruises orders its "Project Sunshine"-vessels from Meyer Werft in Germany. According to the letter of intent the first 158,000 GT cruise vessel will be delivered in the
Esbern Snare destroys pirate vessel in Somalia On Friday last week the Danish warship Esbern Snare intercepted a fishing vessel, suspected of being a mothership used by pirates. It turned out that the information was correct. Equipment
Bulk carrier hijacked off Oman The Maltese bulk carrier Sinin, 52,466 DWT, has been hijacked off 350 nautical miles East of Masirah, Oman, under a sailing from Fujairah, United Arab Emirates, to Singapore, EU Navfor
Big price spreads seen in Fujairah, Suez Still no quotes for Durban as avails remain tight.
O.W. Bunker's Swiss trading arm 'starts operations next month' Reports say unit may take storage space in ARA.
Gulf Petrochem to build terminal in Gujarat 'Entry into India is very significant for the Gulf Petrochem group,' says MD.
Analysts predict tougher environment for Maersk Bank warns of higher bunker costs and lower freight rates.
Mixed price movements at major ports Demand below average at key Asian ports on Monday.
Chemoil appoints new VP of Human Resources Latest appointment will 'facilitate' new business development and other strategic initiatives, says CEO Tom Reilly.
Singapore January bunker sales hit 'all-time high' Orders 'brought forward' into January after 'relatively low' December demand.
Third law firm files complaint against Aegean Denver-based Dyer & Berens LLP files class action suit on behalf of Aegean's investors.
Lukoil subsidiary lifts fuel oil cargo from Latvian terminal Latvian minister had warned that the state could nationalize and sell the cargo.
New ferry optimises fuel performance with CR engine technology System designed to operate with ISO 8217 specification bunker fuels, says MAN Diesel & Turbo.
WFS shareholders buy, sell shares in the company Institutional shareholders declare their stakes in the company.
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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