New VLCCs seen running at a loss for 24 months Very large crude carriers (VLCCs) that start trading this year and next will run at a loss for at least 24 months, as supply of new ships outpaces demand and prolongs a slump in freight rates, Arctic Securities ASA said.
Baltic index rises on fresh China iron ore buying The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned positive on Tuesday as fresh iron ore sales to China boosted earnings and sentiment on the larger capesize market.
South China Sea a topic for Bali summit: US Maritime security in the South China Sea will be discussed at a regional summit on Bali this week, the White House said on Tuesday, defying China's desire to keep this sensitive topic off the agenda.
STX Offshore to build world's 2nd-biggest container vessels
Air Cargo Germany enlarges network Air Cargo Germany, a German full-freighter operator based at Frankfurt-Hahn airport, has enlarged its network by commencing services to the South Korean capital Seoul. A B747-400F ...
Contract for extension of Venezuelan railway line signed The Instituto de Ferrocarriles del Estado has signed a contract with the Italian consortium Impregilo, Astaldi and Ghella for the completion of the Puerto Cabello-La Encrucijada li...
Kita Logistics expands fleet in Turkey The Turkish company Kita Logistics, which was active mainly for project freight forwarders so far, has expanded its fleet by 105 Mercedes-Benz Actros 1841 units. Kita Logistics ser...
Far fewer accidents involving HGVs in Switzerland The number of accidents with the involvement of HGVs in Switzerland is continuing to decrease by above-average rates, according to the Swiss council for accident prevention. The nu...
Greencarrier launches direct UK-Finland services Greencarrier is expanding the range of services it offers the Nordic market, together with its UK-based subsidiary Greencarrier PTS, with a new direct service to Finland. The link ...
Samskip increases Norway-Rotterdam services Samskip Multimodal Container Logistics has increased the frequency of its sailings between the Norwegian west coast and the RST terminal in Rotterdam from one to two departures a w...
Strong growth at HHLA Hamburger Hafen und Logistik (HHLA) grew strongly in the first nine months of the year. Sales rose by 16% to EUR 913 million, the operating result (ebit) improved by 16% to EUR 165...
Rudolph & Hellmann Automotive open Ford centre in UAE The joint company Rudolph & Hellmann Automotive opened a Ford Motor Company parts distribution centre in Dubai (UAE) on 14 November. The 29,500 sqm logistics centre in the Jebe...
Scott Dolan leaves United Scott Dolan, senior vice-president of airport operations and cargo at United Airlines, has left the carrier and been replaced by Jon Roitman. United appointed Roitman to the post i...
Qatar Airways orders Boeing freighters Qatar Airways ordered two Boeing B777 freighters valued at USD 560 million at list prices from Boeing at the 2011 Dubai Air Show. The aircraft will increase the airline's B777F fle...
Schiphol Cargo, CAAS and Changi airport swap notes The growing e-freight collaboration between Amsterdam Schiphol and its partners, the Civil Aviation Authority of Singapore (CAAS) and the Changi Airport Group (CAG), has taken a fu...
Agility posts loss in Q3 The net profits made by the global logistics company Agility, headquartered in Kuwait, slumped by 42% to EUR 21 million in third quarter of the financial year compared to the same ...
New Stolt-Nielsen chemical storage terminal in Singapore Stolt-Nielsen recently opened a new petrochemical terminal in Tembusu on Jurong Island (Singapore). The terminal commenced operations with three gas spheres, with plans for a total...
Coming next year: downturn, but not the end of the world Poor third quarter results and rising forced sales point to tough times ahead
EXCLUSIVE: Aframax market 'quite doomed' until year end What can owners do, asks owner coping with daily earnings below operating expenses
RMT to vote on Wightlink strike Union argues that activist was victimised
Anti-piracy body meets in New York Tenth session of UN Contact Group will play host to almost 70 countries
The port on your doorstep The European Sea Ports Organisation has made its third annual award for ports that build relationships with the wider community who form their neighbours
No hope for capesizes Shipowners with capesize bulkers in their fleets might not like PwC's report tiltled Capes of No Hope
New political brooms to sweep global economy clean Deficit-reducing measures and changing of guard in Europe will take time to make impact
Dry bulk workhorses have the best prospects A big rump of handysize ships of more than 25 years old means new order potential for owners
SeaFrance wins a reprieve from Paris commercial court December 12 deadline set for new or improved bids, while move into full administration will allow company to maintain sailing schedule
Doomsayers predict years of gloom Commentators offer downbeat assessments of dry bulk and tanker markets
Pressure on resale prices drives home harsh lesson Forget discounted future earnings. A ship is only worth what someone will pay for it
Bad to Werse as banks pull plug German shipmanager goes bust
StealthGas expects higher LPG rates after boosting profits in third quarter Nasdaq-listed owner hunts longer period charters for gas fleet
Panamax boxship market set for pick-up in second quarter next year Maersk Line and MSC drive charter market activity over the week
Trailer Bridge files for Chapter 11 US shipping company hopes to reorganise within six months
Zodiac upgrades boxship order to 16,000 teu Increases capacity in response to requirements from prospective charterer
SeaFrance is short of options SeaFrance has been given a reprieve, but it is DFDS that may yet come out the winner
Philippines closes training schools on quality grounds Tough stance taken in face of Brussels criticism
P&O Ferries deploys freight vessel to tackle SeaFrance on Dover-Calais route European Seaway, with capacity for 120 trucks, taken out of lay-up to operate five daily round trips
Crisis lingers in Asian box ports Singapore and Hong Kong set to fall short of 2008 record throughput by a hair in spite of strong growth
Services to improve seafarers' lives Magsaysay-Ho to push supranational finance and communications services to lure recruits
VLCCs in the Middle East start making money After weeks of poor earnings, a flood of cargoes drives up daily earnings
International insurance community pushes for China to let down barriers IUMI lines up Shanghai meetings to press case for Chinese membership
Lloyd's List honours counter-piracy navies Award goes to joint forces along with plea to use public kudos to spur governments further
Seafarer training: cut the BS The European Commission is right to press for something to be done about Filipino certification
Revenues slump at DFDS Weak economy and intense competition hit bottom line
NewLead wins another round in TMT spat Owner has $10.2m in security against charter arrears of $9.3m said to be owed by Nobu Su company
Port of Los Angeles sees busiest month to date for export volumes Outbound trade on course to mark a record year, but imports are hit by consumer slowdown
Chuan Hup hit by investment and foreign exchange losses First-quarter operating profits eroded to a $29m loss
Terje Askvig quits Eitzen Chemical Chief financial officer also leaves
Pipeline reversal to hit tankers IT was confirmed today that the flow of a major US pipeline will be reversed, with potentially significant long-term implications for tankers serving Gulf of Mexico refineries
Paragon breaches covenant NYSE-listed drybulk operator Paragon Shipping conceded today that it has breached a loan covenant as a result of falling asset values
House OKs ballast bill THE US House of Representatives has just approved a national ballast water standard, but final language is unlikely to be considered until 2012, a Washington insider told Fairplay today
SeaFrance co-operative, government to meet FRENCH transport minister Thierry Mariani offered today to meet leaders of the employee co-operative bidding for control of French ferry operator SeaFrance
Trailer Bridge files for US Chapter 11 shield NASDAQ-listed Trailer Bridge was forced to file for Chapter 11 bankruptcy protection today, after being unable to refinance its junk bonds
StealthGas falls short LPG OPERATOR StealthGas today reported rebounding profits for its latest quarter, but not to levels Wall Street analysts expected
Port agencies criticised over ferry fire POOR onshore co-ordination left passengers waiting 20 hours to leave a burning ro-pax, according to a MAIB report
Arkhangelsky wants assets back EXILED Russian Vitaly Arkhangelsky plans to go on to the offensive and recover Oslo Marine Group assets he alleges were wrongfully expropriated by Bank Saint Petersburg
BLT unveils $170M turnaround INDONESIAN wet bulk specialist BLT has revealed an increase in after-tax profits, sending its share price soaring on Jakarta's stock exchange
Breaking MoU agreed NO SHIPS are today coming to Bangladesh for scrapping, but an accord could signal new directions for breakers if the country's courts rule they can resume business
DFDS reports $60M profits DANISH DFDS today reported solid third-quarter profits, despite a drop in revenues
Box sector growth predicted BUILDING infrastructure and diversifying exports and customers in the Americas will be the keys to continued box sector growth, a Panama conference has heard
Filipino crew record seen CREWING companies in the Philippines expect to deploy a record 400,000 seafarers worldwide by the end of this year
Rena box removal finally starts MARITIME New Zealand today finally lifted the first containers off the stranded box ship Rena
ATI profits fall nearly 31% ATI, the Philippines terminal operator, said its profits fell 30.9% in this year's first three quarters, to 1.151Bn pesos ($26.46M) from 1.6Bn pesos in the last-year period
FMCSA Shuts Down Gunthers Transport The Federal Motor Carrier Safety Administration ordered Maryland trucker Gunthers Transport to shut down, citing hours of service violations. ...
St. Lawrence Seaway Traffic Up 2 Percent Cargo shipped on the St. Lawrence Seaway from late March through October rose 2 percent year-over-year, as the Port of...
GOP House Report Blasts TSA, Calls For Reform A House Republican report blasted the Transportation Security Administration for having a bloated bureaucracy and failing to use technology to...
NOL's Ron Widdows On Carrier Losses, Vessel Capacity Cuts (Video) Ron Widdows, senior advisor to Neptune Orient Lines, says container lines will have to reduce capacity to sustain freight rates...
TPM Adds Refrigerated Cargo Track The 2012 Trans-Pacific Maritime Conference organized by The Journal of Commerce will add a full-day track on refrigerated container transport...
Sunteck Transport Parent Boosts Profit 13 Percent AutoInfo, the parent of non-asset trucking company Sunteck Transport, increased its net profit 13.3 percent in the third quarter to...
US Xpress Expands Expedited Refrigerated Service U.S. Xpress Enterprises is expanding its expedited refrigerated trucking service, bringing its total number of reefer teams to 100, the...
House Approves Bill to Set National Ballast Standard The House passed a bill on Tuesday that would set a national standard for ballast water regulation of vessels and...
Industrial Production Rose 0.7 Percent in October U.S. industrial production rose 0.7 percent in October, boosted by oil drilling and increased auto, aerospace and electrical manufacturing, Federal...
DOT to Help Savannah Find Dredging Funds Transportation Secretary Ray LaHood threw his support behind the Port of Savannah's deepening project and pledged to help Georgia find...
French Court Rejects DFDS Joint Bid for Sea France A French court rejected a bid by Denmark's DFDS to take over Sea France and gave the ailing state-owned ferry...
Economists Say Global Economy Worsening The world economic climate has worsened in the fourth quarter, underscoring the threat that developed countries, particularly those in the...
Trailer Bridge Files for Bankruptcy Protection U.S.-Puerto Rico carrier Trailer Bridge filed for Chapter 11 bankruptcy reorganization on Wednesday, a day after failing to refinance $82.5...
Trans-Pacific Rate Measure Tumbles 4.2 Percent Spot freight rates for ocean container shipping on the trans-Pacific fell another 4.2 percent in the latest week, the second...
Star Reefers Wins New Action Against Russian Importer A U.K. court says Russia's largest fruit importer JFC Group must disclose all its worldwide assets after the company failed...
DFDS Profit Surges 48 Percent DFDS's third quarter pre-tax profit surged 48 percent from a year ago to $61 million, as northern Europe's largest short-sea...
Agility Profit Plunges on Lost Government Contracts Agility's third-quarter profit plummeted 42 percent year-over-year to $29.2 million, as the global logistics group's revenue contracted 19 percent on...
Hutchison Warns of China Container Slowdown The container export market out of China could weaken next year with economic recovery in developed countries "uncertain" and the...
ANA Cargo Tonnage Grows in September International cargo volume at Japan's All Nippon Airways edged up 0.8 percent year-over-year in September in a slight recovery after...
DHL Doubles Manila-Hong Kong Capacity DHL Express and Air Hong Kong are doubling air cargo freighter capacity between Manila and Hong Kong to meet growing...
Trailer Bridge Delays Quarterly Report U.S.-Puerto Rico carrier Trailer Bridge said it plans to delay the filing of its third quarter financial report because the...
Thai floods forces up PC prices Thailand's worst floods in half a century, the result of months of monsoon rains, could see Bangkok still flooded into next year according to its prime minister, ...
Containerisation International seeking shippers to join panel for new carrier sentiment poll Containerisation International has announced the launch of The Containerisation International Shipper Sentiment Polls - and is looking for shippers and freight ...
DFDS does Maersk proud Denmark-based DFDS continued to make good money in Q3 11, amply justifying Maersk's 31.3% stake in the European short-sea business.The company's year-on-year profit ...
Colombo driven by gateway cargo The Sri Lankan port of Colombo has registered a modest rise in its container throughput for the first nine months of 2011, with volumes up 2.3% to 3.16 million ...
China cannot be ignored So said Christopher Williams, commercial director of the UK-based shipowning and maritime services group, Graig Shipping, which has several ships on order in the ...
APL merges transpac with Middle East sling to create new butterfly loop APL is merging a transpacific loop with a Middle East sling to create a butterfly service embracing Jebel Ali, the Pacific North West and North East Asia - a move ...
Management Dynamic changes name but not strategy US-based Management Dynamics (MD), which is a leading provider of solutions for managing global trade, has changed its name to Amber Road, a decision that has been ...
Turkon withdraws N Europe/Med schedule Turkon Line is to withdraw its direct schedule between northern Europe and the Mediterranean from the beginning of next year in favour of a slot charter agreement ...
Paragon seeks covenant cure US-listed bulker and boxship owner's third-quarter profit plummets while declining asset prices threaten loan provision.
Stealthgas steps on the gas Liquefied petroleum gas operator boosts bottom line as market heads for positive territory.
Trailer Bridge in Chapter 11 Nasdaq-listed liner operator seeks bankruptcy protection in the US as financial overhaul flatlines.
Star cops less for Kappa Greek owner fixes up supramax for a year to Pacific Basin at reduced daily rate.
SeaFrance gets lifeline French court allows struggling ferry operator to keep trading as it tries to drum up more potential buyers or face liquidation.
Property pushes Global Malaysian tanker owner returns to the black in first nine months thanks to real estate revaluation.
Global back at Havyard Indian owner returns to Per Saevik's shipyard for a potential PSV double.
Evasive move ended in smash US accident investigators find tanker Elka Apollon hit MSC boxship in Houston after trying to avoid tug and barge.
CMA CGM wants a waiver Cash-strapped French liner operator in talks with banks over covenant obligations.
BW tanker flees pirates Products tanker with unarmed guards on board avoids hijacking off Oman.
Cable caused Clipper fire UK report says electrical connection to trailer overheated, causing 2010 blaze on Commodore Clipper ro-ro.
SeaFrance halts sailings Cash-strapped French ro-pax operator keeps ships in port ahead of court ruling on its sale.
Crude markets climb above $100 per barrel level 'This may not be enough to eliminate the glut in the Midwest because output is growing by hundreds of thousands of barrels a year.'
Turkish supplier complying with new sulphur limit Energy Petrol is latest suppler to confirm it is meeting the 2012 standard.
IFO prices steady in Fujairah In Durban, dupply dates were from November 18-26.
Classification societies' promotion of in-house designs 'deeply troubling' 'This is not a class issue; this is an industry issue,' says CEO.
Rotterdam market steady Strong demand in Gibraltar.
'Fuel costs exceed timecharter costs' Outlook for dry cargo market 'somewhat negative'.
Testing agency highlights 'water content' problems 'Experiences show that issues in certain West African ports are significantly higher'.
'Record high premium' for fuel oil cargoes Saudi Aramco sells 240,000 metric tonnes of 180 cSt material for December loading.
Bunker prices in Asia mostly down mid-week Slack demand across major Asian bunkering hubs on Wednesday.
OOCL executive calls for incentives on cleaner fuels initiative Local government urged to offer incentives to 'broaden participation' in Hong Kong clean air initiative.
Emission regulations need to be realistic, says Norden chief Owners should not be straddled with 'unfair extra costs' in efforts to cut emissions, says Carsten Mortensen.
Hong Kong tests oil pollution response Government departments and oil companies contain 'oil spill' from a beached product tanker carrying 5,200 metric tonnes of fuel oil.
Berlian Laju reports a surge in Q3 profit Improved rates, lower operating costs compensate 'significantly higher' bunker costs, it says.
2012: 'Battle for survival' for tanker owners Pooling can open avenues for discussion on slow steaming, says spokesman of SeaTeam Management.
Bunker vessels recognised for using cleaner fuel Fifteen vessels have already been signed up for the Port of Gothenburg campaign.
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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