More deals expected in the shipping industry The global shipping industry could see robust dealmaking activity in the coming years as weak freight rates caused by vessel overcapacity spur firms to consolidate to cut costs and get better access to capital, according to senior industry bankers.
Baltic index rises to highest in 10 months The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose to its highest in over 10 months on Friday although the pace of gains slowed.
Salvage teams get ready to empty oil from stricken ship Salvage teams are preparing to empty oil from a stranded container ship off New Zealand's north-eastern coast as volunteers clean up crude washed onto beaches, the government said.
Yucatán container terminal upgrades facilities The Yucatán Container Terminal, which is owned by Grup TCB, Spain's leading port terminal operator, has acquired three new cranes. This investment is worth about EUR 700,000. The c...
Indian Railway revenues 10% up The earnings of Indian Railways between April and September came to approximately INR 489 billion (about EUR 7.5 billion), marking an increase of 10% compared to the same period la...
Tiaca commends TSA decision on screening inbound cargo The ruling of the US Department of Homeland Security's Transportation Security Administration (TSA) not to proceed with a 31 December 2011 deadline for the 100% screening of cargo ...
Global public rail investment at record high Public budgets for railways around the globe nearly tripled around the globe between 2005 and 2010, from EUR 82 to EUR 224 billion, as the independent German consultancy SCI Verkeh...
US Frozen Food Express Industries streamlines dry freight services Frozen Food Express Industries, a leading temperature-controlled truckload and less-than-truckload carrier in the US, will no longer provide dry freight services via a dedicated fl...
Freja and Orion conclude logistics agreement in Norway Freja Norway has signed a contract with Finland's Orion Pharma. The agreement with Orion specifies that Freja will operate Orion's logistics in the Norwegian market, including rece...
Schmitz Cargobull targets 75,000 vehicles by 2017 Production trebled, turnover doubled: In financial 2010/2011 (to 31.3.2011) Schmitz Cargobull exceeded its original forecast of 18,000 vehicles for the year by more than 100%, with...
SDV Brazil to develop a long-term partnership with Helibras Helibras (Helicópteros do Brasil), a Latin American helicopter manufacturer subsidiary of Eurocopter, a division of EADS, has signed two contracts with 14 Brazilian suppliers speci...
JAL rolls out special-liveried aircraft Japan Airlines (JAL) has rolled out a newly-painted Boeing B777-200 aircraft named JAL Eco Jet Nature, which is decorated with the logos of environmental projects supported by the ...
Boeing finally delivers first B747-8F to Cargolux Several weeks after the planned delivery date of 19 September (see ITJ Daily of that day), Cargolux Airlines finally took delivery of its first Boeing B747-8 freighter on Wednesday...
Evergreen launching new intra-Asia services Taiwan's Evergreen Line will realign its fleet deployment and launch new services in mid-October. The existing Hua Bei-Hong Kong-Indonesia link (HBI) will be reorganised into two f...
Holger L. Schlote joins Kervan-Tur Logistics Holger L. Schlote recently joined Kervan-Tur Logistics in Istanbul Tuzla as senior consultant and business development manager. He started his career in Germany in 1989, as an appr...
Container volumes suffer historic fall What is usually the peak month for containers saw traffic slip for only the second time in 11 years
Ports competition issues are set out in detail by OECD Paper reflects contributions from 21 countries and outlines all potential areas of concern
Food group cuts carbon footprint with switch from road to barge Princes looks to shift 6,500 teu per year off lorries and onto the Manchester Ship Canal
Rhine blockage costs estimated at $75m Major part of the bill for the Waldhof capsize delays was absorbed by operators, NEA Transport survey finds
Suezmax demurrage rates on the rise as Turkish Straits delays kick in Owners negotiating prices of $50,000 per day if stuck in queues to transit chokepoint
Stepping up to the wicket for a new generation A group of retired seafarers is trying to encourage the young to join a 'forgotten profession
'Sulphur loophole' phrase is misleading The cruise industry is operating within plain text of International Maritime Organization convention
Maersk to employ armed guards High-risk tankers first to get protection
Pirate focus on crews will force P&I clubs to pay ransoms Threat of pirates taking crew ashore is set to increase with implications for insurers
Horizon Lines delists Development is purely academic after mammoth recapitalisation
DSD Shipping pays $28.5m for handymax chemical tanker Deal for Socatra's 2006-built Maohi includes two-year charter-back
Odfjell buys chemical tanker amid hopes of market improvement Vessel will trade in South America
Devil is in the detail for implementing EEDI The Energy Efficiency Design Index raises some difficult issues and imminent decisions for shipowners
Scrap that tanker With values falling, it may be time to sacrifice time-served tonnage to demolition yards while they still have an appetite for scrap steel
Tanker flat rates in 2012 to be based on highest ever bunker prices Average fuel costs of $606.56 per tonne likely to push Worldscale rates up around 20%
UK public sector pensions strike to disrupt services Coastguard, Royal Fleet Auxiliary and ferries face one-day walkouts
Court approves Korea Line rehab plan Bankrupt dry bulk operator will issue new shares
VLOC pair resold for $56.5m each Vessels sell at significant premium to capesizes
Sustainability of capesize rally remains uncertain Market fundamentals do not add up, but owners and brokers enjoy the bull run while it lasts
Freight rates fall below $1,500 per feu mark on transpacific boxship route Price dip coincides with slowing Chinese export growth figures
Beware of governments bearing gifts China's Exim bank has become a very big player in global ship finance in a short time
New rules on household heating oil set to reduce US import options Not all refineries can produce the cleaner fuel for export on tankers
Torm sells LR2 pair to Maersk Danes swap ships
Pirates free tanker and crew of 20 Nigerian gang releases Cape Bird off Lagos after five days' captivity
New plan to get at Rena's fuel oil Salvors to build platform on port side of stricken boxship
Swire and Bluewind fined for Pacific Adventurer bunker spill Penalty is a small portion of the clean-up cost, but judge notes limited damage to wildlife from the incident
Evergreen closes $824m loan to finance newbuildings Taiwanese line's deal will pay for earlier 8,000 teu orders due early in 2013
ADM orders three energy efficient bulkers from Oshima Deal comes after rumours in August of plan to buy 35 kamsarmaxes
Cruise orders seen remaining slow ANALYST Robin Farley of UBS predicted today that cruise newbuilding orders are likely to remain below average for years ahead
Six Hamburg Süd ships acquired en bloc BROKERS told Fairplay today that German liner Hamburg Süd has sold six sister box ships en bloc to three Greek buyers for $201M
Diamond S seals Cido deal CONNECTICUT-based start-up Diamond S has closed its purchase of 30 MR product tankers from Hong Kong's Cido Shipping
Ballast-standard bill advances to US Senate A US BILL to install a single national ballast water discharge standard will be considered by the US Senate, after winning passage in the House
'K' Line goes piggyback 'K' LINE said today it is expanding intra-Asia box services by chartering slots on existing routes, rather than starting its own
'Drip-feeding' seen in coal fixtures BROKERS told Fairplay today strong coal fixtures have balanced out slow ex-India iron ore fixtures for Supramaxes
MR owners lurk in gulf BROKERS told Fairplay today owners of MR tankers are trying to stay in the Persian Gulf in hope that rates are improving across that region
Box rate pressure trickles down PRESSURE on box ship charter rates is spreading from the depressed Panamax segment into smaller-size sectors
Dockwise seeks waiver DOCKWISE has filed a waiver request on a single covenant with its lender syndicate
Maersk acquires TORM tankers DANISH products tanker specialist TORM told Fairplay today it has sold two LR2 tankers to pool partner Maersk Tankers
India to aid exporters DELHI is offering exporters a scheme to help tide them over the slowdown in developed markets and rising input costs
'Savage' quarter buffets Fairstar FAIRSTAR Heavy Transport has reported a "savage" reversal to losses in the latest quarter, caused by a sharp fall in revenues and higher costs
Tanker runs aground A RUSSIAN products tanker, Grigoriy Bugrov, has run aground on the northwestern shore of the Caspian after its hull was breached and engine room flooded
Owners fined for Oz spill QUEENSLAND'S government today welcomed a court's decision to fine the owners of a ship that spilled oil along the state's coast
Capesize, Panamax rates surge BULLISH coal and iron ore fixtures have resulted in new year-to-date highs for Capesize and Panamax rates
FMCSA Launches US-Mexico Trucking Program The Department of Transportation on Friday approved one Mexican trucking company's request to operate on U.S. highways but placed a...
Ceridian-UCLA Index Points Toward Recession The Ceridian-UCLA Pulse of Commerce Index fell 1 percent in September, as truck industry fuel purchasing fell back in an...
Lawmakers Push Marad to Publish Jones Act Waivers Members of Congress are proposing to require the Maritime Administration to publicize the availability of Jones Act vessels when another...
LaHood: Some GOPers Block Transport To Hurt Obama Transportation Secretary Ray LaHood ripped into newly elected Republicans Friday for blocking efforts to launch a new infrastructure program, saying...
Shanghai Exchange Offers Shippers New Tools The Shanghai Shipping Exchange's announcement to introduce risk management tools to help shippers trade derivatives comes as the Federal Maritime...
GOP Considers Replacing Fuel Tax, Mica Says House Republicans are exploring options to bolster surface transportation funding, perhaps even replacing the current per-gallon gas tax with a...
Gap to Shrink US Retail Network, Expand Overseas Clothing retail giant Gap will close more than 100 of its Gap stores in North America as it expands overseas...
Fesco, BLG Launch Auto Venture at Russian Port Fesco and BLG Logistics established a Russo-German auto logistics joint venture at the port of St. Petersburg to handle imports...
Threads of Change in the Air The capital of Bangladesh is not associated with huge air cargo volume, but, in April, Lufthansa Cargo entered the market...
Indexed Gains I am having a hard time understanding why freight rate indices should not be incorporated into each and every ocean...
Shippers, Carriers It may finally be time to say that the fractured relations and frustrated feelings that grew out of the ocean...
Inside Out Brokerage Q: I work for a large corporation with several divisions and I manage our trucking division. Most of the divisions...
Salvage Workers Can't Stop Rena Oil Leaks Salvage crews battling to contain the environmental damage from the stranded ship Rena leaking oil off New Zealand were unable...
"K" Line to Start China-Philippines-Indonesia Loop "K" Line is starting a new weekly intra-Asia service that will run between North China and Southeast Asia. The...
CSAV Revamps Two Asia-Latin America Loops CSAV is reconfiguring its two services from Asia to Mexico and West Coast of South America and Central America, the...
Containerized Trade Drops 6.3 Percent at Yokohama International containerized trade through Japan's Port of Yokohama declined 6.3 percent in the first half of this year from a...
NYSE to Suspend Horizon Lines Note: This story corrects an earlier report that erroneously reported Horizon's refinancing left bondholders with a majority of the company's...
IMS flirts with Shenghui spin IPO may be in the cards for Chinese manufacturer as IM Skaugen closes in on final stage of newbuilding quest.
Skaugen on track despite loss Third-quarter deficit fails to upset IM Skaugen's appetite for multigas newbuildings but hurdles remain amid capital crunch.
Dockwise firms Goliat pact Dutch heavylift operator picks newbuilding to shift Sevan FPSO to Eni field off Norway.
Horizon faces delisting NYSE will bump US containership owner from main list to the over-the-counter arena as market cap falls.
Star confirms Cargill deal Nasdaq-listed owner comes clean about $5.6m charter for supramax bulker.
99 for Odfjell Jan Hammer-led owner picks up five-year-old tanker from Japanese rival as it fleet nears three figures.
Nobu unveils Octopus8 details Freshly minted affiliate of Taiwanese shipowner Nobu Su spreads tentacles into floating LNG business.
Turkish delays cut Ships now waiting two days fewer in Bosporus after government eases transit restrictions.
Boxship Courier grounds German vessel gets stuck leaving port of Chittagong in Bangladesh.
Lessons in shipping strategy Buying when the price is right, the basics of supply and demand and sailing in the wake of the great navigators.
Capital ousts Teekay Evangelos Marinakis-led tanker owner replaces Teekay Tankers in Evercore Partners' conviction buy list.
Evergreen funds 10 newbuilds Taiwanese containership operator organises funding for ten of its Kaohsiung newbuildings.
Schoeller gets its ship back German tanker snatched off Nigeria has been released from pirate control.
House bill seeks ballast discharge standard The U.S. House Transportation and Infrastructure Committee on Thursday approved a bill that would establish a uniform standard for vessel ballast water treatment. The 2011 Commercial Vessel Discharges Reform Act (H.R. 2840) was approved by voice vo...
NY Stock Exchange to suspend Horizon The New York Stock Exchange said Thursday it determined that the common stock of Horizon Lines should be suspended prior to the market opening on Thursday, Oct. 20. The company expects to commence trading on the over-the-counter market that same d...
Volunteers respond to New Zealand oil spill An army of volunteers are helping clear the oil spill from the container vessel Rena which went aground on Astrolabe Reef near Tauranga, New Zealand last week. The government agency Maritime New Zealand said 17 of the 88 containers that have falle...
J.B. Hunt reports record 3Q profit J.B. Hunt Transport Services posted a record third-quarter profit of $68.7 million, ending Sept. 30, or a 5.9 percent increase compared to the same period last year. The Lowell, Ark.-based company said it had total operating revenue of $1.17 billio...
Ex-Im Bank's record FY 2011 export financing In preliminary fiscal year 2011 figures, the U.S. Export-Import Bank reported to exceed $32 billion in export financing, which supported about $40.6 billion in exports at more than 3,600 U.S. companies. Fiscal year 2011 ended on Sept. 30, and the ...
Shanghai Shipping Exchange seeks to widen market Zhang Ye, president of the Shanghai Shipping Exchange (SSE), said Thursday that his institution is seeking permission from Chinese authorities to open up its electronic platform for trading container freight rate derivatives to shippers and carrie...
CII expands in Chicago Freight forwarder Consolidators International (CII) has opened a new facility in the Chicago suburb of Wood Dale. The facility is located near O'Hare airport, and is convenient to Chicago's trucking network and rail depots. It will act as a key dis...
Kux to manage Toll's Europe-Mideast sales Toll Global Forwarding has appointed Gerd-Wolfgang Kux as regional director of marketing and sales for its Europe-Middle East region. Based in Zurich, he takes up his position on Jan. 1. Kux, 38-year forwarding veteran, previously held senior manag...
Bunker prices end week higher Crude futures continue to surge on hopes of an economic recovery in the US.
Panelists offer clean shipping solutions Transparency to the public and collaboration with the supply chain were among the topics discussed at the workshop.
Fujairah market firm In Cape Town, deliveries were available for supply up to and including October 28.
Strong gains in MGO prices in northern Europe Avails continue to be tight in Rotterdam.
New supplier in UAE Al Arabia Bunkering Company delivering in Khor Fakkan and Kalba.
Strikes disrupt Piraeus bunker operations 'We cannot load anything at the moment. It's a mess,' a player tells Bunkerworld.
Appeal for calm after bunker spill provokes 'racial abuse' Commentator calls for size of oil leak to be 'put into perspective'.
New Russian trading firm established in Dubai Will act as seller for physical supplier in Novorossiysk with plans to expand to Russian other ports.
Week ends with bunker prices up at most ports Supplies of bunker fuel mixed across key Asian ports on Friday.
Shipping companies fined $1.2 million for bunker spill But court hears spill 'did not constitute an ecological disaster as portrayed in the media'.
Saudi Aramco sells 180 cSt parcel at six-year high premium Amid tight avails of on-specification cargoes in Asian markets.
Biofuels availability 'greatest challenge' for US Navy Advances in green technology 'key' for US Navy to realise its Great Green Fleet objective, says research firm.
'Abundant' bunker avails in Far East Russian ports More volumes pumped into local market following hike in export tax duty.
Hyundai Oilbank building oil storage facility at Ulsan Possible use of storage facility to contain marine fuel, says company source.
Strong winds 'may' hamper oil recovery operation 'Unlikely' that there will be any pumping of oil from the grounded Rena on Friday, says Maritime New Zealand.
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