Freight rates seen rebounding 80% in H1 Freight rates for the largest oil tankers are expected to rebound nearly 80 per cent in the first half of the year, from unprecedented lows in 2010, on rising oil demand, increased Opec supply and piracy concerns, a Reuters poll showed.
UPS expands Boeing airplane health management to MD-11 fleet UPS, which uses Boeing's airplane health management coverage for its B747-400F fleet, is set to expand the scheme to include its MD-11 freighters. Boeing's airplane health manageme...
Dachser Switzerland awarded AEO certification Dachser Spedition Switzerland, a subsidiary of Dachser, a German logistics service provider with international activities, has been awarded an authorised economic operator certific...
Vietnam and Taiwan revise bilateral air service deal Taiwan and Vietnam have revised their bilateral air service agreement, allowing fifth freedom rights on up to five weekly cargo flights. In 2006, both sides concluded a bilateral c...
Moritz Mittelbach steps down from Rickmers Holding Dr Moritz Mittelbach stepped down at his own request as CFO and managing director of Rickmers Holding and of Pacific Holdings International on 31 January. Mittelbach was with the R...
Gebr'der Weiss establishes climate-neutral logistics hall in Austria The Austrian transport and logistics enterprise Gebr'der Weiss says it has set up the first ever climate-neutral logistics hall in W'rgl (Austria). Investing EUR 2 million in the b...
Let 410 cargo plane crashes in Congo Both crew members of a Let 410 cargo plane were killed in an accident that occurred recently at Mont Biega (Democratic Republic of the Congo). The airplane, operated by African Air...
Vögel Transporte expanding its fleet The Austrian enterprise Vögel Transporte is investing approximately EUR 2.5 million in its vehicle fleet. It will acquire 19 low-emissions Euro 5 trucks in March, bringing its tota...
Port of Long Beach begins major terminal modernisation scheme The port of Long Beach has approved a USD 123 million dredging and wharf building contract that officially launches the construction of the landmark Middle Harbor Redevelopment Pro...
Safmarine introduces third direct Europe-India link Safmarine Container Lines is introducing a third dedicated service between Europe and the Indian Subcontinent. The company's new Prime 2 service will feature a direct link between ...
Logistics manager Walter Maschke founds Maschke Management Consulting Walter Maschke recently founded the human resource consultancy Maschke Management Consulting. The Ratingen-based company specialises in services to the German and international tra...
Rhine blockage cleared - busy period ahead SVS, the Swiss association for shipping and the port industry, has reported that the site of the accident where a vessel capsized near the Loreley on the River Rhine in Germany has...
Eurofima remains cautious, net profits down Eurofima, the European company for the financing of railroad rolling stock, pursued its cautious lending approach in 2010. Moderate new railway equipment financing of CHF 1.8 billi...
Certified transport of draught beer in standard curtainsider semitrailers Schmitz Cargobull has presented a load-securing certificate for draught beer transport by curtainsider semitrailers with or without dropsides, offering a high degree of loading and...
CER, Unife and EIM's European Railway Award - correction On 11 February we reported in the ITJ Daily that the European Railway Award, presented in 2011 to the former Mayor of London Ken Livingstone for political achievements and to Knorr...
Fixture flurry boosts outlook for LR1 product tanker rates Brisk charter activity this week raises hopes of improvement in rates from levels of W112.9 or $1,658 per day
Supramaxes buoyed by tied-up ships Rates lifted as Korea Line bankruptcy filing keeps 90 vessels out of spot market
Angola to cut April crude exports by 15% Angola plans to reduce daily crude oil exports by 15% in April from a month earlier, based on a preliminary loading programme, reports Bloomberg
Wuhan Steel signs Canadian miners as BHP ups ore price A Chines steel company has signed joint ventures with two Canadian miners against a backdrop of record iron ore prices and tight supplies which saw Australian miner BHP Billiton raise February iron ore prices by 8% to a landed cost of $175 per tonne
South American cargoes keep Baltic index rising The Baltic Dry Index rose 21 points today to 1,292 as panamax rates maintained momentum
Wanted: bank seeks solvent suitor for loan proposition Lloyds Banking Group puts its shipping portfolio up for sale but fails to attract any buyers interested in the estimated $8bn-$12bn book
Lines leave lessors to take a punt in the great box gamble As box trades recover, leasing companies are confident they can overtake shipping lines to satisfy growing demand for containers
Triton sale could make sector more transparent Existing players in the container leasing sector have broadly welcomed the deal
South African gun crackdown threatens anti-piracy efforts Keeping security guards' weapons on ships raises risk of arrest in ports
Channel Tunnel boosts shortsea market share Sees 8% rise in passenger numbers in 2010
Rising oil demand to fuel offshore investment Growing fleet of offshore development and production vessels will be needed
Costamare 'in no hurry' to charter out ships Greek boxship owner hopes to cash in on rising rates in charter market
Johnson Stevens rebrands after ending IRISL ties Agency work will be handled by JSA Global in future
Aker Philadelphia secures $42m lifeline Yard would be able to begin constructing two tankers for which there are no buyers yet
Failed deal to cost Anek Lines $65m Ferry operator warns of huge hole in 2010 results
OW Bunker profits leap 50% Bunker company posts bumper profits for 2010 at $48m
Colombia dry canal plan 'no threat' to Panama Panama Canal officials say proposal to build 220km rail link not a competition issue
Lower rates push Seanergy to fourth quarter loss Dry bulk owner posts $2.6m net loss but cautiously upbeat over freight rates outlook
Tide turning for shipbuilders There needs to be concerted pressure across the board for shipbuilders to seriously investigate options for producing cheaper ships
Paying the price Shipowners will do well to keep an open ear on what bunker companies are saying as the best way to determine counterparty credit risk
LNG-fuelled ships 'cheapest option' for US emissions area DNV study reveals savings of up to $12m compared with use of scrubbers or low-sulphur fuel
Saga predicts fewer new VLCCs in 2011 than forecast Saga Tankers predicts 65 vessels will be delivered, 20% fewer than market estimates
STX Pan Ocean dragged down by poor fourth quarter Dry bulk operator will expand owned fleet to 151 from 84 by end of 2013
US court sentences Maersk Alabama pirate to 34 years' prison Court rejects defence pleas for minimum sentence
Keppel FELS wins $380m order from Transocean Contract is latest in slew of jackup rig orders for Keppel
Mitsubishi gets $500m order from Petroleum Geo-Services Contract worth $1bn if Petroleum Geo-Services orders two more vessels
SBM Offshore partners with Mitsubishi Partnership will aid SBM's expansion plans in Brazil
Finns flinch over lost deal WHEN RCCL signed a ship deal with Germany's Meyer Werft for its Project Sunshine class, the despondency in Finland was palpable
US grants tariff break REGULATORS in the US have voted to exempt common carriers that do not operate ships from filing rate tariffs, in a move the FMC said will save such NVOCCs up to $200,000 per year
BDI rises on Panamaxes THE BULLISH impact of rising Panamax rates prevailed over softening Capesize rates today to push up the BDI
Aker Philly reveals rescue EMBATTLED Jones Act shipyard Aker Philadelphia announced today that it is close to sealing financial support from the state of Pennsylvania to fund two tanker newbuildings
Galveston seals box deal GALVESTON port officials are pursuing a partnership with Hutchison Port Holdings and Carlyle to try revitalising the Texas port's dormant box business
Seanergy breaches covenant NASDAQ-listed Seanergy today disclosed unexpected quarterly losses and negotiations with Citibank over a new covenant breach
Nothing slow about steaming savings TESTING has shown that slow steaming offers significant cost savings for VLCC operators, Oslo's Saga Tankers said today
'Risks still remain' in box market RISING demand has done little to protect box shipping from oversupply, BIMCO analyst Peter Sand has warned
Rolls-Royce wins China seismic deal ROLLS-Royce has won a £20M ($32M) order from SINOPEC, a Chinese energy conglomerate, to design and equip a seismic research vessel
Oil spills from ship at Dalian FOUR OIL recovery vessels have reportedly been deployed at the Chinese port of Dalian after a spill from a general cargo ship
NOL profits fail to ignite shares SHARES of Singapore's NOL were generally flat when trading opened today, even though the company unveiled $461M in profits yesterday
STX Pan Ocean profits nearly $100M SOUTH Korea's biggest drybulk carrier STX Pan Ocean unveiled net profits today of 109Bn won ($97.5M) for FY2010
Two Vinashin-tied officials arrested TROUBLES continue to mount for Vinashin, Vietnam's government-run shipbuilding group, which effectively defaulted on an overseas loan repayment last year
Asian demand lifts NZ ports TWO NEW Zealand ports have attributed throughput and profit rises to Asia's hunger for raw materials
Keppel shares surge on two-rig order SHARES of Singapore's Keppel rose today on the world's biggest rig builder's announcement of a new two-rig contract worth $380M.
Carrier Says Hours Plan Would Boost Driver Pay Schneider National would need to increase driver pay by about $3,000 per year "to keep commercial drivers whole from a...
FreightCar Cuts 4Q Loss to $3.5 Million FreightCar America narrowed its fourth-quarter net loss to $3.5 million from a $5.5 million loss in the 2009 period and...
Waterways Council Lobbies for Capital Spending Plan Ten months after the Army Corps of Engineers Inland Waterways Users Board adopted a strategic plan for infrastructure construction, river...
Ray Greer to Head BNSF Logistics Burlington Northern Santa Fe named Raymond B. Greer the first president of its subsidiary BNSF Logistics, effective Feb. 15. ...
DOT Eyes Infrastructure Bank to Fund Dredging Dredging of U.S. container ports, and other marine projects that aid the intermodal network, might be eligible for some funding...
Colombia Truckers Drop Roadblocks Truckers in Colombia will stop blocking roads in Bogota but will maintain their strike against a government plan to deregulate...
Manufacturing Exports Rose 20 Percent in 2010 U.S. manufacturing exports rose 20 percent last year, with the top 10 markets accounting for more than two-thirds of the...
LA-LB Imports Grew 13 Percent in January Combined containerized imports through the ports of Los Angeles and Long Beach grew 13 percent in January over the same...
Retailers Forecast 4 Percent Sales Growth in 2011 The National Retail Federation projected retail sales, excluding autos, gas stations and restaurants, will rise 4 percent this year in...
House T&I Committee Approves Aviation Bill Congress is taking steps to complete legislation that gives operating authority to the Federal Aviation Administration, after 18 attempts to...
DOT Seeks Way to Salvage Fla. Rail Project Despite the Feb. 16 decision by Florida Gov. Rick Scott to decline $2.4 billion in federal grants and halt a...
ATA Claims Study Undermines HOS Proposal The safety benefits of proposed changes to truck driver hours of service rules have been "wildly overstated," the American Trucking...
Truckers to Speak Out on HOS Proposal Truckers will have a last chance to make their case against proposed changes to truck driver hours of service rules...
Costamare Boosts Earnings 57 Percent Costamare boosted fourth quarter 2010 earnings 56.5 percent from a year ago and said it is eyeing further ship acquisitions...
Maersk Launches India-Europe Service Maersk Line will launch service between southeast India and Sri Lanka and northern Europe in early March to tap into...
Mitsui Divests Container Terminal Assets in China Japanese investor Mitsui divested its entire stake in two container terminal operators in China. Mitsui owned a 1 percent...
FMC Streamlines Filing Procedures The Federal Maritime Commission is taking the first steps toward making it easier for the public to conduct business there....
Horizon in Wal-Mart win CEO of US container operator likely breathing sigh of relief as US retail giant drops antitrust claim.
MarAd looks local Keystone Shipping, Interocean American and Ocean Dutchess sink their teeth into $77m US crewing and maintenance contract.
Conoco takes K-Line twins Japanese owned offshore firm secures two-year deal for AHTS brace.
Seaspan targets ten Gerry Wang-led shipowner on the fringe of tapping war chest to order up to ten new boxships.
CH saves face Singapore-listed owner on the brink of offloading anchor-handler after inking bareboat pact just weeks after a similar deal collapsed.
Uljanik drives up earnings Tankers and bulkers made lots more money for Croatian owner in 2010.
GTB seals boxship shocker Jan Haakon Pettersen-led shipping syndicate taps Chinese lender for firepower to launch $310m raid on German containership pair.
Safety violations blamed Azerbaijan says unsafe working practices caused fatal fire on Caspian Shipping vessel.
Clarkson in offshore drive World's largest shipbroker values support vessels publicly for the first time as new offshore products are launched.
Alaska Railroad names Leary chairman The Alaska Railroad Corp. board on Wednesday elected Linda Leary to chairman. Leary Alaska Gov. Sean Parnell appointed Leary to the railroad's board in October 2009. She replaces outgoing chairman John Binkley, who held the post for 13 years. Leary...
Con-way Freight hires yield management specialist Less-than-truckload carrier Con-way Freight said it has named John Burton vice president of yield management. He will be responsible for pricing, yield and contract management, and market analysis. Burton was vice president of transportation for AC...
ICF out of business ICF Intercontainer-Interfrigo SA, which entered into liquidation late last year, is officially out of business, according to a statement released Thursday. Joan Dubaere of Racine & Vergels in Brussels, the ICF shareholder-appointed liquidator, anno...
DOT awards $77 million in NDRF contracts U.S. Transportation Department on Wednesday announced contracts totaling $77 million for three U.S. maritime firms to operate 10 National Defense Reserve Fleet ships through July 27, 2015. "This money will help make sure these important Defense Re...
Pasha to build 2nd ro/ro for Hawaii trade Honolulu-based Pasha Hawaii has signed a contract with VT Halter Marine in Pascagoula, Miss., to build a second U.S.-flag roll-on/roll-off vessel for operations in the U.S. West Coast/Hawaii trade. The ship's base price is $144 million and is estim...
President's budget proposal fully funds MSP President Obama's fiscal year 2012 budget proposal, which was released this week, calls for full funding of the Maritime Security Program at the authorized level of $186 million for 60 U.S.-flag militarily useful vessels. Obama The funding consists...
A new sheriff in town sort of Liner carrier Mediterranean Shipping Co. has overtaken Maersk Line as the world's biggest single line as measured by fleet capacity, according to a report Wednesday by Containerisation International. The report said MSC, a privately owned line base...
Improving truck trailer aerodynamics South Carolina-based company BMI Corp., in partnership with the U.S. Energy Department's Oak Ridge National Laboratory, has developed a technology that improves the aerodynamics of long-haul truck trailers and could potentially save the industry mi...
Difficult ice conditions off St. Petersburg The ice conditions in the easternmost part of Gulf of Finland have turned out to be so difficult that the Russian icebreakers are not capable of assisting all vessels. On
Strong krona brings positive net effect on Viking Line During the last fiscal year, which exceptionally included 14 months from November 1, 2009 to December 31, 2010, the sales of Viking Line Abp totalled EUR 569.9 million. During
Fuel tanks compromised on grounded vessel Severe weather conditions hamper response efforts.
Fujairah bunker market mixed Avails reported to be tight for prompt deliveries.
IFO prices stable in Rotterdam and Hamburg Bunker market quiet in Hamburg.
EU urged to rally support for IMO vote on GHG regulation Call for countries to ratify MARPOL Annex VI to participate in 'crucial vote' on mandatory measures at MEPC 62 as it will be 'tight'.
Termoil welcomes new trader Sotiris Delidimitriou has years of bunker industry experience.
Experienced trader joins KPI Bridge Oil Nick Fuca appointed as bunker broker and trader in company's New York office.
Record year for O.W. Bunker Reports 50% increase in pre-tax profits for 2010 and 15% increase in volume.
General fall in IFO bunker prices at major ports Supplies of bunker fuel at key Asian ports mixed on Thursday.
Vopak completes sale of stake in Caribbean terminal Plans to transfer operatorship of BORCO to Buckeye 'immediately'.
Study backs fuel saving benefits of hull coating technology International Paint's hull coatings reduce fuel consumption, study shows.
Iran's bunker sales lower than projected Current figures put annual sales estimates below target.
Another US law firm to investigate Aegean San Diego-based Robbins Umeda to investigate whether 'false and misleading statements' were made by key personnels from Aegean.
Gulf Fuel appoints sales director New sales director to head the company's trade department and support the board in implementing growth strategy.
Singapore bunker barge operator relocates to new office Business 'back to normal' on Wednesday, says director of Hong Lam.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
