Shippers steam as sailing slows: survey IN THE cheering for slow steaming, what with savings on fuel for the liners and the lower emissions for the planet, it appears that the shippers' howls of protests might have been drowned out.
Record profit for mines as shipping slumps on glut The largest glut of ships in history means the cheapest freight rates relative to iron ore prices in at least a decade, helping Rio Tinto Group and BHP Billiton Ltd to generate record profit.
Strait Talk
Shipping sector charts course to reduce global warming LAST week, the International Maritime Organization (IMO) took a major step forward in its response to the perceived need to cut greenhouse gas, and specifically carbon dioxide (CO2), emissions from ships. In doing so, it has probably managed to keep control of the implementation of cuts that will eventually be demanded by whatever results from the UN negotiations on tackling global warming which continue in Durban at the end of this year.
Shippers steam as sailing slows: survey IN THE cheering for slow steaming, what with savings on fuel for the liners and the lower emissions for the planet, it appears that the shippers' howls of protests might have been drowned out.
Record profit for mines as shipping slumps on glut The largest glut of ships in history means the cheapest freight rates relative to iron ore prices in at least a decade, helping Rio Tinto Group and BHP Billiton Ltd to generate record profit.
Strait Talk
Shipping sector charts course to reduce global warming LAST week, the International Maritime Organization (IMO) took a major step forward in its response to the perceived need to cut greenhouse gas, and specifically carbon dioxide (CO2), emissions from ships. In doing so, it has probably managed to keep control of the implementation of cuts that will eventually be demanded by whatever results from the UN negotiations on tackling global warming which continue in Durban at the end of this year.
Typhoon hits Japanese ports and refineries Osaka Bay and Kobe closed, Nagoya and Yokkaichi thought to have followed suit
Euronav puts faith in offshore after being stung by poor tanker market Belgian owner posts $9m loss in tanker division in first half but $4m profit in offshore
Panamax period charter rates fall to two-and-a-half year low Greek companies take out ships for short and long-term contracts in $11,000 per day range
Astra Oil charters two aframaxes at five times spot market rate Vessels taken for four months and six months respectively
China must further boost tanker fleet to meet expanding refining capacity Though country's orderbook includes 106 ships, only 15 are for delivery this year
Chinese dry bulk carrier capacity has doubled since 2006 In the first half of this year 62 of the 451 bulkers entering service went to Chinese owners, lifting the nation's fleet to double the size seen in 2006
VLCC market starts to feel the pinch from growing China fleet Almost 40% of VLCC shipments on the key Middle East to China trade lane are now carried on vessels beneficially owned by companies registered in China
Ship recycling is coming of age Demolition yards and cash buyers have expressed intentions to improve working practices
Murdoch syndrome drives backers from shipping Shareholders will eventually rebel against domineering leaders and opaque disclosure practices
Grand China Logistics parent tipped to acquire GE SeaCo HNA move would further strengthen Chinese control over box supply
Advance on duty of care The Hague appeal court overturns a ruling on stevedore liability for vessel damage
Time for market to re-evaluate FPSO risk Claims emanating from new technologies are causing concern among underwriters
Business interruption cover creeps into marine policies Insurers' largesse could come back to bite the industry in the wake of Japan's earthquake
German yards and owners welcome IMO's mandatory efficiency standards Shipowners' body welcomes level playing field while shipbuilders hope for a retrofitting bonanza
Canadian pension fund back in the race to land V.Ships Source claims private equity interests' failure to reach agreement has opened the door to Ontario Municipal Employees Retirement Scheme
Star Bulk nets $28m for capes from first follow-on Part of offering will go to help pay for two capesize bulkers due to join the fleet before end-August
Grimaldi's new ro-ro freight service hits problems in Tunisia One ship in six-day wait for berth
Strikes and equipment failures clog up Indian box terminals Frustration now being felt by carriers and forwarders is likely to be further compounded by strikes in south Indian ports
Torm adds cargoes to dry bulk contract with China Nickel Resources Further 51 cargoes added to existing 124-cargo deal which runs until 2015
Industry be damned The European Commission' proposals on cutting SOx emissions stick hard and fast to one nearly impossible deadline and another difficult one
Costamare raises dividend as fleet income mounts Analysts welcome moves to buy MSC vessel and tie up 23-year-old pair for six years at $20,000 per day
Transnet faces fines for failing to follow environmental procedures Government operator's redevelopment of Durban container terminal allegedly illegal
Japan's top man at the MEPC is bullish on greenhouse gas rules Delegation leader Shinichiro Otsubo says Tokyo is 'generally satisfied' with agreement
Lomé to have 1.5m teu a year capacity terminal following ADB loan approval Togolese port already serves as transhipment hub for West Africa cargo
Japanese yards win 15 export orders June deals bring year to date total to 120 vessels amounting to 5m gt, says ship exporters' body
Precious Shipping loan facility is cut by $50m Thai Exim bank pulls out of loan syndicate
Fesco first half reflects 'steady recovery' in Russian economy Box volumes up 46% as rail containers, freight forwarding and intermodal services all surge
MCA has listened to cuts concerns Coastguard stations keep 24-hour operations, but emergency towing vessel coverage to go
Louisiana touts $6.5Bn terminal LOUISIANA's governor today revealed the scope of the Sabine Pass project, one of four terminals seeking to export US shale gas as LNG
Star Bulk stock plunges SHARES of NASDAQ-listed Star Bulk dropped 17% in overnight trading after the disclosure of its follow-on offering
Yangzijiang calms investors CHINESE shipbuilder Yangzijiang's stock rose today after it sought to calm investor concerns
NASDAQ halts ONE trading OMEGA Navigation Enterprises is no longer being traded on NASDAQ as of today, share records confirm
Rail revived to Colombo CONTAINER transport by rail to Colombo's port has been revived for the first time in four decades
Bulker escapes pirates INDIA'S navy has helped a Greek bulker evade pirates in the Gulf of Aden
Throughput rises 24% at Tallin's Muuga MUUGA CT, which operates the box terminal at Tallin's Muuga Harbour in Estonia, said throughput increased 24% from January to June, compared with the first half of 2010
Output powers VLGC rates HIGHER Saudi Arabian crude output has boosted rates for the biggest carriers to a two-year high of $56 per tonne, brokers told Fairplay today
China Nickel-TORM contract expanded DANISH products tanker specialist TORM's drybulk business was boosted today when Chinese steel producer China Nickel Resources Holdings expanded an existing contract
FSL loses security deposit SINGAPORE'S FSL Trust has won a case relating to the arrest of a products tanker, but will lose almost $2.4M over the arrest of another
Bunkers give VLCC owners ammunition BROKERS told Fairplay today VLCC owners are resisting pressure to fix August voyages at the low rates of this month
HNA said to seek GE SeaCo CHINESE aviation group HNA, parent of Grand China Logistics, is vying with private equity group Kelso to buy box leasing outfit GE SeaCo, container sector sources told Fairplay today
Essar Ports adds capacity OPERATIONS have begun at the expanded Vadinar terminal operated by Essar Ports in India
Queensland recovery lags QUEENSLAND coal shipments fell again in June, year on year, as producers continued to struggle with flood recovery, IHS McCloskey reported today
Supramax coal rate slide reversed DEMAND for prompt tonnage has reversed sliding rates for Supramaxes ballasting from southern China to load Indonesian coal for discharge in India, brokers told Fairplay today
Feds Want to Ease Military Export Licensing The U.S. Commerce Department is proposing to make it easier for companies to export military parts with low or no...
Grubb & Ellis' Feester Foresees Changing Distribution Center Strategies Peter Tirschwell, senior vice president of strategy for UBM Global Trade (parent company of The Journal of Commerce), sits down...
Jones Long LaSalle's Carver on Inland Port Concept Peter Tirschwell, vice president of strategy for UBM Global Trade (parent company of The Journal of Commerce), speaks with John...
Ports Group to Help US Export Initiative The American Association of Port Authorities will work with the Department of Commerce to help small and medium-sized businesses export...
Dukakis: Invest in Future by Spending on Infrastructure Former Massachusetts governor and presidential canidate Michael Dukakis said to invest in the future spending on infrastructure is key '...
APL Adds Surcharge at Congested India Port APL will apply an emergency congestion surcharge on imports containers at India's Port of Nhava Sheva (Jawaharlal Nehru), and other...
Toy Shippers Partner With Laufer Group The Toy Shippers Association partnered with Laufer Group International, integrating the company as its official non-vessel operating common carrier. ...
Judge Tosses Long Beach Clean-Trucks Settlement A federal judge threw a new twist into the battle over clean-trucks programs at Southern California ports, ruling the Port...
YRC to Raise Rates 6.9 Percent YRC Inc., the long-haul subsidiary of YRC Worldwide is hiking its rates 6.9 percent, matching rate hikes announced by many...
FedEx Adds Ocean Forwarding Services FedEx Trade Networks, the forwarding arm of FedEx, is trying to expand its reach into ocean shipping with a new...
Fesco Boosts Traffic 46 Percent First Half 2011 Fesco boosted container traffic 46 percent in the first half of the year compared to the same period a year...
FMCSA Shutting Down More Unsafe Bus Operators The U.S. Department of Transportation is making it harder for unsafe bus and truck operators to stay in business and...
Spike in Transport Performance Highlights Need An annual performance measure of the U.S. transportation system jumped to its highest level ever during the severe recession, highlighting...
More Volatility Forecast for Box Shipping Container shipping supply and demand will remain "highly volatile" for the next three or four years before possibly settling into...
Multimodal Kansas Site Attracts Wind Turbine Plant New Millennium Wind Energy will develop its first plant to manufacture building-scale wind turbines north of Witchita, Kan., citing...
BAA Ordered to Sell Stansted U.K. airport operator BAA must start selling London Stansted airport, the country's second largest cargo hub, and one of its...
Economist Expects Pickup This Quarter The second quarter's slow growth was disappointing, but the U.S. economy will pick up in the third quarter and growth...
MSC Strikes New Sale-Charter Deal Costamare is paying Mediterranean Shipping $55 million for a 5,000 20-foot equivalent units container vessel the Greek container shipowner will...
Diesel Prices Rise for Second Consecutive Week Diesel prices across the United States increased 2.4 cents a gallon in the week ending July 18, rising for the...
Long Beach Mayor Expects Port Funds Transfer Long Beach Mayor Bob Foster expects a proposed transfer of $16.9 million of harbor revenue to the city's tidelands operating...
Con-way Freight to Raise Rates 6.9 Percent Con-way Freight will hike its tariff rates 6.9 percent Aug. 1, matching general rate increases announced this month by UPS...
HHL hunts new CEO Oaktree Capital-backed heavy-lift operator looking to replace architect of Beluga Shipping overhaul.
Matson's makeover US liner operator wheels out 'rebranding' in a fight to secure footing in logistics arena.
EURN eyes offshore empire Belgian tanker owner races to 'exploit' offshore boom with new department devoted to floating storage and processing projects.
Excel in pirate drama Indian Navy claims to have disrupted an attack on an Excel Maritime panamax in the Gulf of Aden.
Euronav delays newbuilds Belgian tanker owner tosses suezmaxes on ice in response to dire market and $24m Q2 loss.
No garbage at sea Tougher control over getting rid of garbage welcomed by environmentalists.
SBLK slips in Times Square Shares of Nasdaq-listed bulker owner plunge 16% after pricing follow-on fundraiser.
Wellington in PGS splash US asset manager takes a near $15m chunk of stock in Oslo-listed Petroleum Geo-Services.
Palermo protest Fincantieri workers climb on top of crane in Sicily to demand government help to save their shipyard.
Golar gunning for four John Fredriksen-owned LNG firm expected to turn in higher profit next year amid regasification project awards, Lazard says.
Bart departs Decision to run down loan book hastens departure of Lloyds Bank ship finance head Bart Veldhuizen.
Cargill takes panamax New York-listed Diana Shipping secures fresh term work for one of its bulkers at a greatly reduced rate.
Tax temptation Taiwanese register could be boosted by influx of ships as country introduces tonnage tax.
FPSO damage costs Maersk Danish owner will lose 5.3m barrels of oil and DKK 350m in profit as Gryphon A unit is repaired.
New low for SFI stock New York-listed shipowner sees its shares strike the lowest note in a year.
Lines delay again MSC, Maersk and CMA CGM will not now launch a third Asia to US string until next year.
Socatra eyes two tankers French owner will declare options at Hyundai Mipo after investment group Tikehau pumps in cash.
FedEx Launches ocean choices portfolio FedEx said its FedEx Trade Networks freight forwarder arm will begin offering three distinct ocean forwarding products including a new priority product for full-containerload and less-than-containerload shipments from three select ports in China. ...
New containerships to set record in 2013 New containerships with a record 1.73 million TEUs of capacity will be delivered in 2013, mostly larger ships, said information service Alphaliner in its latest weekly newsletter,excerpted here . That number could grow as some shipyards still have ...
MSC: Indonesia inbound congestion worsens Liner carrier Mediterranean Shipping Co. said surging cargo demand in Indonesia is causing congestion in the nation's ports. In a note late last week, the line said it has begun assessing a $100-per-TEU congestion surcharge for inbound cargo to the...
Drewry freight index to start in September Drewry Shipping Consultants and Cleartrade Exchange plan to start their Europe-based container freight rate index in September, the companies said this week. Drewry and Cleartradein early May announced plansfor such an exchange, covering 11 trade ...
Zim drops Israel/Africa service Zim has suspended a service connecting Israel with South Africa and east Africa. The line's EAS service, originally run with two vessels, had a rotation of Durban, Dar es Salaam, Mombasa, Djibouti, Port Said, Haifa, Djibouti, Mombasa and Durban. Zi...
CMA CGM, Hapag-Lloyd add Genoa to Australia loop CMA CGM and Hapag-Lloyd will switch Italian port calls in September on a Europe/Australia service they jointly operate. The lines will add a call at Genoa and drop a call at La Spezia on the service -- called Nemo by CMA CGM and EAX by Hapag-Lloyd....
Dole to take slots on Maersk's Expreso service Dole to take slots on Maersk's Expreso service Dole to take slots on Maersk's Expreso serviceWith its ship theVliet Tradergoing into dry dock for an extended period of time, Dole said it will charter space from Maerk's Expreso service to continue...
Carriers drop Qingdao call due to fog A Zim-operated Asia/Black Sea service on which the Grand Alliance and China Shipping take slots will drop a call in Qingdao later this month due to fog and congestion at the Chinese port. Alliance member Hapag-Lloyd announced the dropped call late ...
Total Transportation to buy hydrogen trucks Logistics company Total Transportation Services Inc. plans to purchase 100 hydrogen-powered trucks. Vision Industries Corp. said it has received a letter of intent fromRancho Dominguez, Calif.-based TTSI to purchase the hydrogen fuel cell-electric ...
TWI 'value spread' holding near $200 pmt Viswa Lab's fuel value benchmarking system calculates large differences between 'best' and 'worst' quality fuels.
Prices down in most key ports 'Very busy day in Gibraltar', player tells Bunkerworld.
IMO to develop further guidelines regarding sulphur limit compliance Varying port state control practices create need for ship fuel tank sampling guidelines as many do not test the MARPOL sample.
Continuing strikes halt bunker operations in Cape Town Rise in demand for products in Durban.
No clear direction for bunker prices at major ports Bunker deliveries at Korean and Japanese ports affected by bad weather.
Typhoon affects bunker operations in Korea, Japan Typhoon Ma-On to move within 120 km from Osaka on Wednesday.
Volga Shipping orders 50 dual fuel engines 'Single largest order for Wärtsilä 20 marine engines' in Russia, says director at Wärtsilä Ship Power.
Bunker arrest cases get mixed results Court proceedings in Japan and China concerning FSL Trust vessels previously arrested over unpaid bunker claims yield different results.
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