Rates for shipping Mid-East crude to Asia up 4.9% The cost of delivering Middle East crude oil to Asia, the world's busiest route for supertankers shipping two million-barrel cargoes of oil, gained for a 12th consecutive session on Monday as Chinese demand strengthened.
US Navy adds 5 ships to 6-year building plan The US Navy has added five ships to its six-year shipbuilding plan, proposing to spend US$74.7 billion for 55 ships through fiscal 2016, according to the fiscal 2012 budget.
Bonds of Indian shipping firms slump as freight revenues fall Yields on the bonds of India's biggest shipping companies are rising to records as the nation's corporate borrowing costs surge and freight revenues slump because of a glut of vessels.
Strait Talk
No pre-testing of bunkers, for now LAST week's column was concerned with an issue which the International Maritime Organization (IMO) has yet to resolve and needs to do something about urgently - lifeboat accidents.
Shipping Times
Obama plans big boost for transport spending President Barack Obama proposed a 16 per cent transportation spending increase for fiscal 2012 while tying spending on many highway, aviation and rail programmes to Congress passing a multiyear funding bill.
Rates for shipping Mid-East crude to Asia up 4.9% The cost of delivering Middle East crude oil to Asia, the world's busiest route for supertankers shipping two million-barrel cargoes of oil, gained for a 12th consecutive session on Monday as Chinese demand strengthened.
US Navy adds 5 ships to 6-year building plan The US Navy has added five ships to its six-year shipbuilding plan, proposing to spend US$74.7 billion for 55 ships through fiscal 2016, according to the fiscal 2012 budget.
Bonds of Indian shipping firms slump as freight revenues fall Yields on the bonds of India's biggest shipping companies are rising to records as the nation's corporate borrowing costs surge and freight revenues slump because of a glut of vessels.
Strait Talk
No pre-testing of bunkers, for now LAST week's column was concerned with an issue which the International Maritime Organization (IMO) has yet to resolve and needs to do something about urgently - lifeboat accidents.
Shipping Times
Obama plans big boost for transport spending President Barack Obama proposed a 16 per cent transportation spending increase for fiscal 2012 while tying spending on many highway, aviation and rail programmes to Congress passing a multiyear funding bill.
Rates for shipping Mid-East crude to Asia up 4.9% The cost of delivering Middle East crude oil to Asia, the world's busiest route for supertankers shipping two million-barrel cargoes of oil, gained for a 12th consecutive session on Monday as Chinese demand strengthened.
US Navy adds 5 ships to 6-year building plan The US Navy has added five ships to its six-year shipbuilding plan, proposing to spend US$74.7 billion for 55 ships through fiscal 2016, according to the fiscal 2012 budget.
Bonds of Indian shipping firms slump as freight revenues fall Yields on the bonds of India's biggest shipping companies are rising to records as the nation's corporate borrowing costs surge and freight revenues slump because of a glut of vessels.
Strait Talk
No pre-testing of bunkers, for now LAST week's column was concerned with an issue which the International Maritime Organization (IMO) has yet to resolve and needs to do something about urgently - lifeboat accidents.
Shipping Times
Obama plans big boost for transport spending President Barack Obama proposed a 16 per cent transportation spending increase for fiscal 2012 while tying spending on many highway, aviation and rail programmes to Congress passing a multiyear funding bill.
Excess tonnage stifles aframaxes Higher Worldscale rates due to rise in bunker prices rather than real strength in the market
April date set for Baltic's freight derivatives central screen BaltEx launch comes more than five years after traders' demands
GMS forecasts 'repercussions' as glut of scrap tonnage waits at India Indian scrap prices have fallen by $20-$30 per ldt in the last week, as too much tonnage swamped the Indian market
Fresh panamax cargoes boost longer time charters The Baltic Dry Index closed at 1,236 yesterday, up by 30 points on the previous day as panamax rates continued to climb after fresh cargoes entered the market
Irate owners plot to reclaim vessels from Korea Line Creditors will have to wait until June 3 to meet with ailing line as Seoul court grants application for receivership
Pirate operations disrupted as second mothership captured But navies forced to release 33 pirates as they 'were not committing an act of piracy' at the time
MSC boss outlines plan to 'kill piracy' Placing naval vessels close to pirate ships will put end to the piracy scourge
Identity card is US' maritime hobgoblin The identity card for US transportation workers has been an expensive disaster in technical and civil liberty terms, and has brought no discernible security benefits
Coal not containers: the real driver behind Colombia's 'canal' plans Investors outline plans of between $4.4bn and $7bn to build new rail links that would connect the country's Pacific coast with Medellin and later Bogot'
Bit-part players to feed China's iron ore appetite Non-traditional nations set to plug short-term supply shortage with smaller classes of bulk carriers to benefit
Beware rise in claims for cargo hedging losses Growth area of litigation as more owners, charterers and cargo interests speculate on the futures markets
Volatile offshore energy market insurance is 'underpriced'
No Valentine's cards in this year's P&I renewals
Colombia's fictional canal The idea of building a landbridge through Colombia is certainly a tale that many in the shipping industry would love to see come true
Cost cuts help Piraeus return to profit Port set to enjoy positive year in 2011 after loss-making 2009
Korea Line hit by US lawsuit Move may make it even more vital for Korea Line to seek Chapter 15 bankruptcy protection
GE Capital to shed GE SeaCo stake Seeks buyer for its 50% stake in the box leasing company
Omega sells minority stake to help fund newbuilding Offloads 20% stake in Megacore venture to pay for panamax tankers
Hutchison seeks $3bn for ports spin off listing Hires three banks to arrange loan facility for Hutchison Ports Holdings Trust
UASC seals $302m finance deal To fund three 13,100 teu containerships, the final trio of a nine-vessel series
US retailers predict 8% growth in 2011 box imports Forecasts prompts hopes that economic recovery is "taking hold"
Eagle Bulk breaks silence on Korea Line Asian dry bulk company owes $7.3m in charterhire arrears
Gold Containers upbeat on growth prospects Box leasing company's sales and leasing revenues rise in 2010
Box safety hurdle Shippers that fail to follow container stowage guidelines are a menace but also extremely difficult to police
ICS changes tack on use of armed guards Move to neutral position aimed at increasing pressure on governments to take more decisive action
Thoresen Thai posts dry bulk profit Division shows upturn with $7.8m profit in first quarter of its financial year
UASC first to trial onboard electronic manual database Shipdex system will contain details of up to 65% of newbuilding UMM Salal's engine room equipment
Code of safety for gas-powered ships inches closer to reality
GL fuel-monitoring tool set to go on the market
Eitzen Chemical loss deepens to $114m But sees market firm up in first quarter 2011
Damaged crane closes Virginia berth VIRGINIA Port Authority told fairplay today that it has shut down one of three APM berths after a project carrier pulling away from a pier damaged a gantry crane
No escaping drybulk 'abyss' BIMCO is predicting continued drybulk weakness, with tonnage oversupply limiting what owners can do to pull freight rates out of the sector's slump
Omega sells JV slice NASDAQ-listed Omega Navigation has sold 20% of its stake in a joint venture with Glencore to raise money to pay for newbuildings
Yard fire victim dies A WELDER injured in a ship repair yard fire in Azerbaijan was reported today to have died
KL ties force Eagle to scramble EAGLE Bulk confirmed today it is being forced to seek spot replacement business for vessels timechartered to Korea Line
Repsol to ship LNG to South Korea SPANISH energy giant Repsol told Fairplay today it has signed a contract to supply 1.9Bn m' of LNG to South Korea's government-owned Korea Gas
Seized pot now up in smoke SPANISH police today launched an inquiry into the theft of four tonnes of seized marijuana at Valencia's port
January LNG cargoes to Korea rose 41% SOUTH Korean imports on LNG carriers increased by 41% in January, compared with that month of 2010, IHS World Markets Energy reported today
US imports seen growing US BOX imports will grow 6% in the first half of 2011, the National Retail Federation has predicted
Italy faces Tunisian migrant surge TUNISIA has reportedly boosted naval and coastguard patrols to intercept wave of migrants seeking to travel across the Mediterranean to Italy by boat
Smuggling bid rolled out GREEK coastguards have smoked out 43M packets of contraband cigarettes and arrested six crew members from a general cargo ship
US Army Corps budget slashed by 17% PRESIDENT Obama slashed $913M from the US Army Corps of Engineers budget estimate for FY2012
COSCO Shipping's January loads plummet COSCO Shipping's January volumes dropped by 22% year on year to 499,300 tonnes because Chinese New Year came earlier this year, the company has told Fairplay. COSCO Shipping's January loads plummet
Hutchison gains listing OK HUTCHISON Whampoa said today it has received conditional permission to list its port assets on the Singapore Exchange
Eitzen Chemical struggles in 2010 NORWAY'S Eitzen Chemical has posted deeper losses for 2010 but is hoping that a slight improvement in the fourth quarter signals a rising trend
White House Proposes $50 Million for Cross-border Trucking President Obama's proposed budget would breathe new life into a cross-border trucking agreement with Mexico, allocating $50.4 million to support...
Container Lessor GE SeaCo Reported for Sale Owners of GE SeaCo, which operates the fifth-largest container leasing fleet, are seeking a sale that puts the company's enterprise...
Shippers, Carriers Cite Flaws in Obama's Budget The president's proposed 2012 budget on Monday left a manufacturing association and a water resource group dissatisfied with the changes. ...
ODFL's Congdon Seeks Bigger, Longer Trucks (Video) Old Dominion Freight Line President and CEO David S. Congdon wants Congress to lift its ban on trucks exceeding 80,000...
Cuban Box Terminal Will Become Transshipment Hub BALBOA, Panama ' A new container terminal in the Cuban port of Mariel will become an important transshipment hub for...
Colombian Truckers Strike in Bogota Colombian truck drivers, on strike for more than two weeks, are blocking major roadways in the capital city of Bogota,...
Forward Air Nearly Doubles Earnings Forward Air nearly doubled earnings in its fourth quarter to give the airport-to-airport trucker a $32 million profit for 2010. ...
Ports Concerned About Federal Budget Cuts President Obama's proposals for a $556 billion, six-year surface transportation bill, and a national infrastructure bank are positives steps, according...
White House Boosts FMCSA Budget 10 Percent The White House is seeking a 10 percent increase in motor carrier safety funding in its 2012 budget proposal as...
Severe Weather Hits FedEx Profit Forecast FedEx is forecasting its earnings in the fiscal quarter ending this month will come up to 40 percent below earlier...
Retail Sales Growth Slowed to 0.3 Percent in January U.S. retail sales rose 0.3 percent last month, the seventh straight monthly increase but the weakest gain since June, the...
Japan, India to Sign Free Trade Agreement Japan and India will sign a free trade agreement Wednesday to eliminate import tariffs on most products traded between the...
Rhine Fully Reopens to Shipping Shipping on the river Rhine River in central Germany returned to normal Monday, Feb. 14. The river is fully open...
French Dockworkers, Employers Open Talks French dockworkers and port employers Feb. 15 began negotiations aimed at resolving a dispute over pensions that has provoked rolling...
Alphaliner Forecasts 14 Percent Trans-Pacific Capacity Spike Ocean container carriers will boost capacity between the Far East and the U.S. 14 percent in 2011 from last year,...
Retailers Forecast 6 Percent Import Growth Import cargo through the nation's 10 busiest container ports is expected to increase 6 percent during the first half of...
Heidmar hit by KLC cloud Korea Line Corp collapse sparks payment dispute between Heidmar's Sigma Tankers and Hyundai as charterer turns to court for guidance.
Thome chats on KLC clash Singapore-based shipmanager says "off-spec" bunkers are to blame for Blue Emerald's engine failure.
Maersk beefs up rig fleet Nils Andersen bets on the future of offshore drilling with $1.2bn order for jack-up pair.
Heavy-lift bashes crane Chinese ship clips structure it had just delivered as it heads out of Portsmouth port in US.
Traders hire Hartmann duo Asian commodities players return to German gas owner as they race to quench thirst for tonnage, brokers claim.
KLC deal 'unfavourable' Eagle Bulk's plan to take back ships from Korea Line comes at a poor time, JP Morgan says.
One dead in ship fall Man plunges 15 metres into skiff during exercise on anchor-handler operated by Norwegian government.
Stolt stymies piracy storm Call from founder Jacob Stolt-Nielsen for pirate 'executions' in war on shipping draws clarification from tanker company.
Ships returning to nest Nasdaq-listed Eagle Bulk looking to take bulkers back from struggling Korea Line until it can resume charter payments.
K-Wave washed up German feedership escapes structural damage after running aground on Spanish beach.
One dead in ship fire Two other workers injured as blaze engulfs Caspian Shipping vessel at Baku shipyard.
Yujin tanker out of action London-listed owner loses asphalt carrier to engine failure in Indonesia.
OSG and KLC faceoff US owner piles woe on ailing South Korean firm after filing an injunction in the US Virgin Islands.
Tanker saves yachtsmen Bow Engineer picks up four Germans whose boat took on water in south Atlantic.
UASC nets $300m loan Kuwaiti owner finances last three of nine boxships on order at Samsung Heavy with new loan facility.
STX in seventh heaven Roy Reite-led yard books sharp rise in Q4 numbers as it reveals post IPO newbuilding number seven.
Cathay cargo volume up 8.9% in January Cathay Pacific and sister airline Dragonair saw air freight volume rise 8.9 percent in January, though the airlines' cargo load factors were hit by increased capacity. Cathay and Dragonair carried 144,402 tons of cargo during the month, while its l...
U.S. resupplies Antarctica station for 2011 The U.S. Military Sealift Command-chartered containershipBBC Emsdeparted McMurdo Station, Antarctica, Feb. 13 after delivering more than 84,000 square feet of vital supplies in support of Operation Deep Freeze (ODF). ODF is an annual Air Force-led ...
ABS names Wiernicki CEO Christopher J. Wiernicki, ABS president and chief operating officer, will become the classification society's chief executive officer following its annual meeting in April. Robert D. Somerville will give up his CEO responsibilities, while remaining...
Rickmers CFO Mittelbach steps down Rickmers Group said Moritz Mittelbach has stepped down as chief financial officer and managing director of Rickmers Holding GmbH & Cie KG and Pacific Holdings International GmbH & Cie KG at his own request. For 10 years, Mittelbach "successfully gu...
Maersk nixes Panama Canal fee Maersk Line said this week it is canceling a fee it was due to start charging March 1 on shipments transiting the Panama Canal. The Danish line announced the fee Feb. 1 -- $20 per 20-foot container and $40 per 40-foot container -- but did not give ...
COSCO raising Dubai THCs COSCO Container Lines said this week it is adjusting the terminal handling charges it assesses on shipments from the Port of Jebel Ali in Dubai. The new THC will be roughly $215 per TEU and $282 per TEU; and $285 per TEU and $385 per FEU for danger...
MCC Transport adds long-line intra-Asia loop The Maersk Line intra-Asia subsidiary MCC Transport said it has started an intra-Asia service between ports in Indonesia, the Philippines, Japan, China, Taiwan and Malaysia. The new IA8 service runs on a 28-day rotation of Jakarta, Surabaya, Manila...
MSC raises U.S. West Coast/South America rates Liner carrier Mediterranean Shipping Co. said last week it is raising rates and bunker surcharges on shipments from the United States to the West Coast of South America. The rate increase is $300 per TEU and the bunker surcharge will go to $365 per...
Obama FY 2012 budget rewards DOT, DHS The White House on Tuesday unveiled a $3.7 trillion spending plan for fiscal year 2012 that would put the federal government on the path to cutting the deficit by $1.1 trillion over the course of a decade, stabilizing but not eliminating the annual...
ARA demand poor as prices shoot higher Overnight fuel oil cargo gains of more than $20 see prices rally across Europe.
Baltic council considers calling for mandatory use of LNG Council's Director General wants 'sustainable environmental policy' for Baltic sea.
Spot quotes resume in Durban Double-digit gains in Fujairah, Suez on Tuesday.
Marina developer leads bid for ex-naval bunkering base Terminal on Adriatic coast can hold up to 11,000 metric tonnes of product.
Tanker rates climb as bunker prices firm VLCC rates surge on key Asian route.
Trading in Korea Line shares expected to resume South Korean court approves placing the dry bulk group in receivership.
Bunker prices up in key Asian ports Demand below average as prices continue to increase, traders say.
Increasing bunker prices a 'concern' in 2011 Rates 'somewhat' improved in the current quarter but higher bunker prices affecting bottom line, says Eitzen Chemical.
South China fuel oil exports down 8% in 2010 Exports affected by lower demand for bunkers in the region, says local sources.
Dan-Bunkering welcomes new bunker trader Arjun Sundar will be part of the company's sales team in Middelfart.
Two vessels detained for illegal bunkering ops Vessels caught transferring marine gas oil (MGO) off southeast Malaysia on Thursday, says maritime agency.
Philippine bunker supplier denies illegal bunkering ops Local supplier said it purchased tax-paid bunkers to sell to the domestic market.
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