IMO agrees on CO2-cutting measures The International Maritime Organization (IMO) agreed last Friday on energy efficiency design standards for new ships to cut greenhouse gas emissions, but developing countries will probably delay implementation by using a waiver, delegates said.
Suezmaxes ordered during boom face financial blues Vessels contracted in 2007-2008 set to make significant losses
Capesize rates fight to hold ground as fixtures dry up Time charter average tumbles 17%
Atlantic-based trade continues to dominate suezmax sailings The suezmax sector continues to be dominated by Atlantic-based trade, accounting for around 77% of exports and Europe and the US taking in 62% of the crude carried globally on these tankers
Modern prices to close in on $50m mark Fleet oversupply unlikely to be supported by a pick up in scrapping
IM Skaugen strives for contract balance for its LPG carriers The company's contract of affreightment deals have limited its ability to reap the rewards of an improved spot market
Fortescue iron ore volumes rise as mining sector recovers Major expansion investment expected to drive up Fortescue production even further
Growing Chinese VLCC fleet stifles European owners Middle Eastern crude oil imported on domestic tonnage reaches 40% market share as other owners feel the pinch
Hong Kong owners take 11% of China VLCC deliveries Greek owners' share falls to just 5%
Shipping banks pass stress test No major shipping lenders among eight European banks to fail
Nautilus Marine Acquisition debuts with slimmed-down IPO Akis Tsirigakis-led blank cheque enterprise rakes in $48m instead of $60m while keeping share price unchanged
Rongsheng gets back in the game New Greek orders and the Vale endorsement give Rongsheng's stock a boost
Will Vale bulk carriers get into China? The best way to quash rumours of being blocked from China's ports is to sail a VLOC into one
Slow march forward for Vale's VLOCs The naming of an unfinished valemax at China Rongsheng meant more theatre than progress
Changes to sulphur content ruling 'will reduce short sea freight by 30%' European Shippers Council calls for new sulphur limits deadline to be postponed until 2020
NCL re-launches $250m IPO New corporate structure announced
Shanghai box freight index falls despite capacity withdrawals Composite SCFI down 1.4% to $1,016 per teu as Shanghai-Northern Europe route declines by 1% to $809 per teu
Put some welly into maritime awards It is time to give proper recognition and reward to the valuable work done by our engineers, designers, technologists and scientists
WSC and Japan outline efficiency scheme Proposal designed to "stimulate significant improvements in the carbon efficiency of the world's maritime fleet"
Will the Middle East Gulf suffer a gap between hope and reality? Gulf Co-operation Council states look on course for strong growth, but large expansion of container terminal capacity will need to be carried out
Middle East Gulf expansion in the pipeline Extra capacity to come online through to 2016
UK pensions shake-up will apply to seafarers and offshore workers Location of employer would not be a key determining factor in deciding whether an individual is ordinarily working in Great Britain, says minister
Pirates refuse to free South Korean seafarers unless jailed comrades are released Somalis also demand compensation for deaths inflicted by special forces in the Samho Jewelry rescue
Deficit forces US to shed the jones for subsidies Tariffs protecting ethanol trade go, which is good for shipping as corn exports rise
Norway's forceful anti-piracy stance attracting industry attention Code gives unusually practical guidelines on weaponry and deployment of armed guards
Port in a storm Los Angeles must do more to rein in its profligacy as rest of California struggles
Los Angeles volumes down 12% on June 2010 Port blames last year's early peak season surge for skewing the figures
Hyundai Merchant Marine throws down the gauntlet on Asia-Europe South Korean carrier plans to add up to 10 12,600 teu ships in battle for survival on competitive trade
Tightening gas market boosts IM Skaugen Gas carrier and tanker owner reports second quarter profits of $400,000, compared with a $4.5m loss a year ago.
Port of Los Angeles pays back $100m bond Repayment will save $16.5m in interest over 15 years.
Nautilus completes IPO BLANK-cheque vehicle Nautilus Marine Acquisition today priced its IPO, obtaining 20% less proceeds than it had been seeking
Writ stalling JNPT scheme is withdrawn A VENTURE involving PSA International and India's ABG Ports is now likely to win a contract for a fourth box terminal at Jawaharlal Nehru Port Trust
Tampa port director criticised FLORIDA'S Port of Tampa Maritime Industries Association has criticised Tampa port director Richard Wainio and called for him to leave the position when his current contract ends
LA box outlook shaky MIXED results in June at the largest US box complex are increasing chances that the fall peak shipping season will be delayed, a port official there told Fairplay
CSAV teams with MSC CSAV HAS confirmed that it will begin jointly operating multiple new box services with MSC from next month through 2014
New JV targets Davie A NEW consortium is moving to take over Quebec's Davie Industries shipyard after Italy's Fincantieri said it had ended talks to buy the yard
IM Skaugen posts slim profits NORWAY'S gas carrier and lighterage tanker group IM Skaugen today reported net profits of $0.4M for the second quarter, from losses of $4.5M a year earlier
NCL revises IPO plan NORWEGIAN Cruise Line, which is gearing up for a NASDAQ listing, filed a revised IPO registration today, featuring a new corporate structure
EC adopts sulphur cuts directive THE EC today adopted a proposal to revise the 1999 sulphur directive and promised to cut sulphur dioxide shipping emissions by up to 90%
FESCO reports cargo rise FESCO said today its box volumes jumped in the first half of the year, compared with the same period of 2010
Bulker demolitions surge 219% GREEK shipbroker Golden Destiny said in a quarterly report that 150 bulkers were scrapped in 1H2011, up 219% year on year
Baltic ro/ros pick up RO/RO traffic is rising steeply this year on routes linking Kiel in Germany with Russia, other Baltic countries and Scandinavia
Tallink's losses climb HIGH COSTS for bunkers and a harsh winter that increased fuel use deepened losses in the three months to 31 May, Tallink said today
Ballast rules attacked US RULES for ballasting constitute a threat to the nation's economy, the US Congress was warned
Leaders differ on Sovcomflot decrees MOSCOW has issued two official, ambiguous announcements indicating a late 2011 privatisation of at least 25% of government-owned Sovcomflot, one of the world's largest oil tanker operators
Mica Hits Back at Chamber Over Transport Bill U.S. House Transportation and Infrastructure Committee Chairman John Mica, R-Fla., said the U.S. Chamber of Commerce favors tax increases over...
U.S. Seizes Lead-Tainted Children's Jewelry Shipment U.S. government agents seized a shipment of $340,000 worth of children's jewelry bearing some three times the legal of level...
Consumer Sentiment Hits 28-Month Low U.S. consumer sentiment fell this month to its lowest level since March 2009, reflecting depressed income and low employment levels,...
CSX Gains Large New Coal Business Corsa Coal began sending trainloads of high-heat metallurgical coal out of its new Somerset, Pa., coal wash plant, generating export...
Maersk Division Wins $126 Million Navy Contract Maersk Line, Ltd., won a multi-year contract valued at up to $126 million to operate and maintain five container and...
Carolina Railroad to Aid Industrial Park Developer North Carolina's Aberdeen Carolina & Western Railway will be the exclusive project advisor to Gladstone Development on a recently acquired...
U.S. Factory Output Flat in June U.S manufacturing activity was flat in June, the Federal Reserve said, although utility and mining output pushed overall industrial production...
YRC Worldwide Projects Second Half Operating Profit YRC Worldwide expects its revenue to rise about $600 million this year to $4.9 billion and to report an operating...
Cathay Cargo Traffic Falls 5.5 Percent in June Cathay Pacific Airways cargo traffic fell 5.5 percent in June, the third straight monthly drop at one of Asia's largest...
European Commission Cracks Down on Maritime Pollution The maritime industry would be required to slash sulfur dioxide emissions by up to 90 percent at a cost of...
Season of the Switch FTR Associates transportation analyst Larry Gross showed a revealing chart at The Journal of Commerce Inland Ports Conference in Chicago...
NVOs Outpace Vessel Operators Two of every five trans-Pacific import containers are booked through non-vessel-operating common carriers instead of directly with container lines, and...
Reverse Course on the Trans-Pacific Shipping is picking up steam on the trans-Pacific, but it's not happening in the direction carriers are accustomed to. Instead,...
Politics, Reality Even John Mica doesn't believe in the transportation spending plan he released this month. That was plainly evident...
Semiconductor Shipments Forecast to Accelerate Semiconductor manufacturers are raising their projections for industry shipments in 2011, forecasting sales will grow 5.4 percent over last year...
MSC, CSAV To Consolidate Four Routes Chilean container line CSAV and Mediterranean Shipping will jointly operate four liner services under a new agreement, stepping up ocean carrier...
Forwarder Pilot Expands to Amsterdam Pilot Freight Services will open an office in Amsterdam as the U.S. freight forwarder looks to build on strong growth...
Sea Star discontinuing Philly Service Sea Star Line said it will end its service between Philadelphia and San Juan, Puerto Rico, on July 22. "The maritime community in Philadelphia has been very supportive and great to work with, but we have been unable to secure an adequate revenue s...
Washington Notebook
BIS proposed rule moves U.S. export reform forward The U.S. Commerce Department's Bureau of Industry and Security released a proposed rulemaking Friday that moves another step forward the Obama administration's goal to modernize the country's aging export control system. A significant piece of the...
Shipper groups oppose bunker levy As the International Maritime Organization Marine Environment Protection Committeewinds up a meetingin London this week, the Global Shippers Forum (GSF) said any scheme for controlling carbon emissions in the shipping industry should provide incen...
Pirates attacks up 36% in first half of 2011 There were 266 incidents of pirate attacks on vessels around the world in the first half of 2011, up 36 percent from 196 attacks during the same period in 2010, according to the International Maritime Bureau's Piracy Reporting Center. But the numb...
U.S., Macedonia reach open skies agreement The United States and Macedonia on Thursday reached an open skies aviation agreement, which will allow airlines of both countries to select routes, destinations and prices for passenger and cargo services based on consumer demand and market condit...
Pilot Freight lands in Europe Pilot Freight Services, a third-party logistics services provider, has opened its first owned European station in Amsterdam. "This is a big milestone for our company, as we continue to grow and expand our footprint both domestically and internation...
IES opens office in Norfolk area IES Ltd., a transportation software provider to freight forwarders, non-vessel-operating common carriers and customs brokers, has opened an office near Virginia's Port of Norfolk. The office will primarily focus on engineering, operations and infor...
Mitsui to acquire Portek The parent company of MOL has won a bidding war to acquire a majority share in Singapore-based niche port operator Portek, according to news reports out of Asia. Mitsui and Co., a Japanese conglomerate whose businesses include MOL and MOL's contain...
SoCal port volume down 5% in June Southern California's two ports had divergent container volume growth patterns in June, according to Los Angeles and Long Beach statistics. The two ports collectively handled 1.2 million TEUs in June, a roughly 5 percent drop from the same month i...
Week ends mostly soft in Americas Crude futures were lifted by lower oil supplies from Canada and higher US equities.
IMO moving at 'glacial speed' to reduce GHG emissions 'Adoption of the EEDI must mark the start of a period of renewed action at IMO with a focus on achieving fast, deep cuts in emissions,' says industry source.
Australian carbon tax set to counter bunker credits 'The carbon tax will raise costs all the way along the supply chain, from factories and mines to railways and port.'
Caribbean ECA formally adopted MEPC 61 also adopts exemption from ECA sulphur limits for old steamships in the US.
Fujairah prices fall; Cape Town strikes continue Employers in South Africa's petroleum sector were ready to resume talks with unions to end strikes.
EU confirms proposal to cut sulphur emissions from shipping Alignment with IMO sulphur limits for ECAs from 2015 and global limit in 2020 to cut ship sulphur emissions by 90%.
Rotterdam and Hamburg markets fall It was an average day of trading day in Hamburg.
IMO makes history with global GHG regulation for ships MEPC 62 adopts a new part to MARPOL Annex VI after dramatic session which forces a vote on the issue.
Week ends with dip in bunker prices at most major ports Demand for bunkers largely below average at key Asian ports on Friday.
Oiltanking Partners raises $215 million from IPO Sold 10 million of its common units for $21.50 each; begins trading in New York on Thursday.
Wärtsilä to design new generation box feeder vessel MARLIN series of container feeders able to acheive up to 30% improved fuel efficiency per TEU carried.
South China fuel oil stocks slightly down Volume of oil exiting the major oil terminals higher than the amount of cargo coming in.
Singapore fuel oil volumes fall to five-month low Stocks down 1.671 million barrels to 17.513 million barrels, according to International Enterprise data.
Aegean shares at new low Thursday's closing price lowest since the company's IPO in 2006.
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