Teekay, Golar profits boom on LNG demand In a year when commodity carriers, oil tankers and container ships have lost money on the biggest trade routes, owners of vessels hauling liquefied natural gas (LNG) are poised for the best rates ever.
Baltic index falls, rate rout extends further The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for a third session on Monday as slower cargo business and a build up of vessels took their toll.
Tanker returns fall as owners fail to curb glut Rental income from shipping Middle East crude oil to Asia, the world's busiest route for supertankers, fell to this year's low as Goldman Sachs Group Inc on Sunday said vessel owners are failing to adjust ship supply.
South Korean ship orders exceed China's
Strait Talk
Tackling piracy problem not so straightforward THERE has been a lot of talk about piracy in the past couple of weeks, much of it expressing, yet again, the anger of the shipping community at the inability of governments to bring the situation under control. The Round Table of international shipping associations has called for the establishment of a United Nations force of armed military guards to tackle the piracy crisis in the Indian Ocean.
Motoring
Toyota expects to reverse declining US sales as production ramps up Toyota Motor Corp, Asia's largest carmaker, expects to start reversing a US sales slide that began in May after Japan's earthquake as vehicle production rebounds and deliveries of the new Camry sedan expand.
Teekay, Golar profits boom on LNG demand In a year when commodity carriers, oil tankers and container ships have lost money on the biggest trade routes, owners of vessels hauling liquefied natural gas (LNG) are poised for the best rates ever.
Baltic index falls, rate rout extends further The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for a third session on Monday as slower cargo business and a build up of vessels took their toll.
Tanker returns fall as owners fail to curb glut Rental income from shipping Middle East crude oil to Asia, the world's busiest route for supertankers, fell to this year's low as Goldman Sachs Group Inc on Sunday said vessel owners are failing to adjust ship supply.
South Korean ship orders exceed China's
Strait Talk
Tackling piracy problem not so straightforward THERE has been a lot of talk about piracy in the past couple of weeks, much of it expressing, yet again, the anger of the shipping community at the inability of governments to bring the situation under control. The Round Table of international shipping associations has called for the establishment of a United Nations force of armed military guards to tackle the piracy crisis in the Indian Ocean.
Motoring
Toyota expects to reverse declining US sales as production ramps up Toyota Motor Corp, Asia's largest carmaker, expects to start reversing a US sales slide that began in May after Japan's earthquake as vehicle production rebounds and deliveries of the new Camry sedan expand.
Teekay, Golar profits boom on LNG demand In a year when commodity carriers, oil tankers and container ships have lost money on the biggest trade routes, owners of vessels hauling liquefied natural gas (LNG) are poised for the best rates ever.
Baltic index falls, rate rout extends further The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for a third session on Monday as slower cargo business and a build up of vessels took their toll.
Tanker returns fall as owners fail to curb glut Rental income from shipping Middle East crude oil to Asia, the world's busiest route for supertankers, fell to this year's low as Goldman Sachs Group Inc on Sunday said vessel owners are failing to adjust ship supply.
South Korean ship orders exceed China's
Strait Talk
Tackling piracy problem not so straightforward THERE has been a lot of talk about piracy in the past couple of weeks, much of it expressing, yet again, the anger of the shipping community at the inability of governments to bring the situation under control. The Round Table of international shipping associations has called for the establishment of a United Nations force of armed military guards to tackle the piracy crisis in the Indian Ocean.
Motoring
Toyota expects to reverse declining US sales as production ramps up Toyota Motor Corp, Asia's largest carmaker, expects to start reversing a US sales slide that began in May after Japan's earthquake as vehicle production rebounds and deliveries of the new Camry sedan expand.
DHL Global Forwarding acquires LifeConEx from Lufthansa Cargo DHL Global Forwarding, the air and sea freight specialist of Deutsche Post DHL, and Lufthansa Cargo have reorganised the ownership structure of their 50:50 joint venture LifeConEx....
Boeing Shanghai extends presence in Europe Boeing Shanghai Aviation Services, a joint venture of Boeing, Shanghai Airport Authorities and China Eastern Airlines established in 2006, has broadened its global reach to include...
DGM-SDG presents new DGOffice module Denmark's DGM Software Development Group (DGM-SDG) launched a new module in its DGOffice platform at the Air Cargo Handling conference 2011 held in Amsterdam from yesterday until t...
Turkish Cargo serves Jeddah and Addis Ababa Turkish Cargo continues to add destinations to its growing network. Scheduled cargo flights to Jeddah were launched today, and the new generation A330-200F freighters with a capaci...
Canute Group expands fleet with four Isuzu trucks The Canute Group in the UK has acquired four new Isuzu trucks - three F110.210 rigids and one N75.190 rigid. They are currently working on a mix of network distribution operations ...
PSA Peugeot-Citro'n turns back on Fret SNCF Fret SNCF, the freight unit the French railways, is losing car transports for PSA Peugeot-Citro'n. According to French media reports Gefco, the logistics department of car manufact...
OOCL and Freightliner renew contract for ten years OOCL and Freightliner have renewed a contract stipulating that the latter provide intermodal solutions to OOCL customers. OOCL has committed itself to increasing capacity by 50% un...
Management changes at GAC Group The GAC Group has announced two key management appointments for its group and local operations. GAC's group sales director, Stuart Bowie, recently took over as managing director fo...
Aqaba CEO discusses reforms with Jordan's King Abdullah Aqaba Container Terminal (ACT) CEO Soren Hansen was one of several representatives of international investors in Jordan recently invited to attend a meeting with King Abdullah II t...
Unifeeder to call at new Ust-Luga container terminal Aarhus (Denmark)-based Unifeeder will call at the new container terminal at Ust-Luga, providing a new easy-access gateway to the Russian market. The new container terminal in the m...
Port of Felixstowe named railfreight business of the year again The port of Felixstowe, the UK's largest container port, is celebrating after scooping the top prize at the Rail Freight Group's annual awards for the second time in three years. T...
La Palette Rouge renews contract with Norbert Dentressangle in UK Norbert Dentressangle has renewed its relationship with La Palette Rouge (LPR) for a further three years. Established in 1992, LPR has grown to become one of the major pallet-pooli...
McGraw-Hill Education selects SBS Worldwide for global freight deal Leading academic publisher McGraw-Hill Education has appointed SBS Worldwide as its freight forwarder and supply chain partner for inbound air and sea consignments. SBS will manage...
Daimler Trucks wants closer cooperation with Kamaz in Russia Daimler Trucks and Russian lorry manufacturer Kamaz want to cooperate more closely in the future. To this end, the companies aim to work together in the area of lorry driver's cabi...
Using armed guards could prejudice P&I insurance cover P&I club's concern rises as more countries ease rules and use security professionals on board
Hong Kong's state of immunity put to test FG Hemisphere ruling removes doubts about when a foreign state may be sued in HK courts
Aon report puts piracy problem in perspective Aon report for owners also reveals decline in successful attacks due to anti-piracy measures
To idle or not, that is the question Box lines are mulling whether to put ships into lay-up, but no one wants to make the first move
Down the rabbit hole of piracy Non-cowboys, mercenaries or UN guards? We're still nowhere near an answer on how best to protect vessels from pirates
Welfare of seafarers depends on shore leave at US ports ISPS Code has done nothing to protect crew against piracy and only adds to workload
SFO's invite to debate bribery was no backhanded accolade Director of UK Serious Fraud Office sets out his views on how shipowners can interpret the Bribery Act
Increased fuel consumption reports welcomed by panamax bulk market Daily figures from Baltic Exchange show similar usage between different-sized vessels
FIS brokers first coking coal swap trade Follows scrap steel, iron ore and freight trades to create 'virtual steel mill'
Small tanker sales rise 35% year on year in third quarter Brokers report renewed interest for smaller specialised tonnage
Crude shareholders endorse merger with Capital Product Marinakis-linked tanker outfits could complete union this month after independent stockholders wave deal through
Lay-up logic The size of the idle fleet looks set to rise over the next few weeks as common sense prevails
China and India to consume a third of all global energy in 2035 EIA report could spell trouble for the shipping industry if developing countries continue to build up their own fleets
BW Maritime orders two LNG carriers Delivery from Hyundai Heavy Industries set for 2014
Private maritime security companies to receive licensing and accreditation SAMI move welcomed by shipping industry
Carnival profit tops forecast amid 'uncertain economic environment' Cruise giant seizes chance to repurchase $445m worth of own stock
Costamare continues expansion with $90m brace from MSC Adds $207m in new and extended charters with Geneva liner giant
Vitol moves to charter first aframax from Libya since sanctions lifted No confirmed fixture yet and market unsure as to where the oil will be loaded
US import container volumes slip 4% Analysts predict an uptick as retailers replenish inventory levels
Idle boxship numbers on the increase Total inactive fleet forecast to double by the year end
Braemar: LNG vessel glut fears are overstated Freight rates will not return to trough levels as tonne-mile demand is to increase, says broker
Grindrod hopes to raise $260m in rights issue for ports expansion Capital raising backed by Remgro as logistics company targets Africa's commodities boom
Call for marine insurance to acquire more maritime expertise IUMI president says too many in industry do not know what they are underwriting
Cargo market must persuade P&I clubs to contribute more on piracy Pirate tactic of separating crew and vessel has implications for P&I cover
Three countries leave IUMI as China and Ecuador join Trade body says it does not know reason for Hungary, Bahrain and Portugal withdrawing
Settlement for $44.4m closes Cosco Busan saga Regal Stone and Fleet Management to pay funds to local, state and federal agencies that responded to the 2007 San Francisco Bay spill
Layups after peak season to reach 5% Macquarie Research says under worse economic conditions some lines will hand back chartered-in tonnage
Chennai surcharges hiked again A GROUP of container feeder operators in Chennai Port have decided to double the congestion surcharge to $130 per TEU, which will come into effect within days
Oz ore exports grow but cape rates remain weak AUSTRALIA today upped its 2012 iron ore export forecast while freight rates on the Capesize market continued recent declines yesterday, shipping analysts said
Weak demand for South African coal SOUTH African coal exports slumped by 24% y/y in July, despite strong demand from China, according to customs data
APL: volumes up, rates down SINGAPORE'S NOL's performance from 30 July to 26 August provided further evidence of the sustained weakness in this year's peaks season
Check your terms on S'pore bunkers MANY shipowners do not realise that they have agreed to unfavourable dispute resolution terms when signing bunker supply contracts in Singapore, says the Singapore Chamber of Maritime Arbitration
Proposal to bar non-US drillships A US LAWMAKER wants to ban foreign-flagged drillships from operating in the US
JoC's Canada Summit Mulls Performance Measures The global container shipping industry lags behind many other industries in establishing a set of key performance indicators to measure...
DOT Releases $83 Million For New England Rails Transportation Secretary Ray LaHood released $82.7 million for track and signal improvements in New England, across a region where freight...
US Challenges Chinese Duties on Poultry The U.S. challenged China's "wrongful imposition" of antidumping and countervailing duties that a U.S. trade representative said could cost American...
Total Quality Logistics Eyes $1 Billion in Sales Truck freight broker Total Quality Logistics said it expects sales to top $1 billion this year as it opened a...
DP World's Majority Owner Signs Refinancing Dubai's Port & Free Zone World, which owns 80.5 percent of terminal operator DP World, signed an $850 million loan...
Air Canada Modifies Flights as Strike Looms Air Canada, the country's largest carrier, said Tuesday it's modifying about 10 percent of its flights to mitigate the impact...
US Rail Hiring Rebounds in Latest Month The seven largest railroads added a combined 1,191 workers to their U.S. payrolls from mid-July to mid-August, rebounding from a...
Housing Starts Fell 5 Percent in August Housing starts fell 5 percent in August to a seasonally adjusted 571,000 annual rate that's less than half the 1.2...
Gordon Trucking Drug Tests Drivers' Hair Truckload operator Gordon Trucking is tightening pre-hire screening of driver applicants, requiring hair samples for drug testing well as urine...
DHL Buys Out Lufthansa From US Cold Chain Venture Germany's DHL Global Forwarding bought out its partner Lufthansa Cargo's share in their U.S-based temperature-controlled logistics joint venture. Deutsche...
Costamare Buys Two Ships, Extends Charters on Six Costamare bought two second hand vessels for $90 million and extended the charters on six other ships in the Greek...
Trucking Group Slams Plan to Toll I-95 The American Trucking Associations attacked Virginia's plans to put a toll on I-95 near North Carolina, saying it would simply...
FHWA Approves Virginia Plan to Toll I-95 The Federal Highway Administration gave Virginia a "yellow light" to proceed with plans to place a controversial toll on Interstate...
Manufacturing Group Lowers Forecast A quarterly survey of factory production lowered its forecast through 2012 but expects manufacturing to continue to outpace sluggish growth...
IATA Slashes Air Cargo Forecast to 1.4 Percent The International Air Transport Association cut its 2011 forecast for global air cargo revenue to $67 billion from a $72...
Senate Works to Clear Way for FTA Vote The Senate voted late Monday 84-4 to proceed with debate on a bill that's considered an essential first step toward...
Hapag-Lloyd Ends Service to Congested India Port Hapag-Lloyd will discontinue calling at congested Nhava Sheva (Jawaharlal Nehru Port), India's largest container gateway, and instead will call on...
Japanese Ship Orders Plunged 74.4 Percent in July Japanese export ship orders fell for the fourth straight month in August on a year-over-year basis, plunging 74.4 percent to...
Hapag-Lloyd Postpones Canada-India Rate Hike Hapag-Lloyd is postpoining by a month the implementation of the general rate increase it planned to apply Oct. 1 on...
Cosco Busan Owner, Operator Reach Settlement The owners and operators responsible for a ship that spilled 53,000 gallons of oil in the San Francisco Bay in...
APL: High volume, low rates Liner carrier APL's average revenue per 40-foot container fell 20 percent year-on-year to $2,559, in the four-week period ending Aug. 26, the line said Monday. APL's volume increased 8 percent in the same period to 235,200 TEUs, mirroring the line...
Hapag-Lloyd delays Canada/Asia rate hikes Hapag-Lloyd is postponing a planned rate increase on shipments from Canada to Asia, the line said last week. The carrier planned to implement increases from Oct. 1, but that has been pushed back to Nov. 1. From all Canada origins to ports in the M...
Crowley steps up projects presence Crowley Maritime Corp. has created a Project Solutions group that bundles company-wide capabilities and assets with project management skills to provide complete "turnkey" marine services. The Houston-based group is led by Craig Tornga, vice presi...
DHL takes control of LifeConEx DHL Global Forwarding has bought out Lufthansa Cargo's half of LifeConEx, the joint venture started in 2005 to provide life sciences companies a cold-chain transportation manager with stringent controls for temperature-sensitive products. The logi...
Grubb to manage American's cold chain American Airlines Cargo has appointed Tom Grubb as manager of cold chain strategy, overseeing the carrier's time- and temperature-sensitive cargo services. A 20-year veteran of American's Cargo division, Grubb was manager of customer service strate...
Old Dominion opens Altoona facility Old Dominion Freight Line on Monday opened a new service center in Altoona, Pa. The company plans to hire 14 employees to support the new facility and expects add another 10 by September 2012. Construction of the service center is part of a $100 mi...
Senate acts on GSP, TAA program The U.S. Senate on Monday evening gave a favorable vote on the motion to invoke cloture on legislation to retroactively renew the Generalized System of Preferences and the Trade Adjustment Assistance program.GSP, which allows for duty-free treatmen...
Study: U.S. meat export promotion pays off U.S. beef, pork, corn and soybean producers are receiving a solid return on their checkoff investments in the U.S. Meat Export Federation's (USMEF) export market development programs, according to a recent study. The study, completed recently by Co...
Four Soft, PayCargo partner Four Soft, a software provider to the logistics and transportation industry, has partnered with PayCargo, an electronic invoicing and settlement services firm, and part of First Data Corp., a global leader in electronic commerce and payment process...
Hapag-Lloyd gets rating downgrade 'Given the persisting difficult industry conditions, we believe the company's cash flow protection measures may now fall short of the levels we view as rating-commensurate.'
Prices soft in Middle Eastern ports A supplier said deliveries available between September 22-30 in Durban.
Bunker player appoints Beijing office manager Dave Zheng joins A/S Dan-Bunkering Ltd., Shanghai.
Prices down in key European ports Prompt product were said to be tight in Rotterdam.
'Greater Singapore' could be Asian ARA Energy trading hub developing beyond the city state's boundaries.
Vessels to benefit from EPA clean diesel upgrade grants Part of more than $1.5 million package to 'reduce diesel emissions, improve public health' in the greater Boston area.
Shipbuilder wins contract for two more dual-fuel LNG carriers Hyundai Heavy Industries signs $400 million deal.
Warning on Singapore bunker dispute resolution clause 'Shock and dismay' expressed by owners after realising they have signed away right to pursue short-supply claims in Singapore.
Dual-fuel engines pass new milestone Wartsila says technology has provided '3 million hours of reliable and efficient operation'.
Asian bunker prices continue to fall Demand generally 'healthy' at key Asian bunker ports on Tuesday.
Singapore-based supplier to appeal court ruling Equatorial Marine Fuel Management Services to continue its claim against MISC Berhad.
Scrubbers, environmental products 'enable transition to sustainable shipping' Exhaust gas scrubbing a 'cost effective alternative' to low sulphur fuels, says Wartsila.
Global supply of low sulphur fuels 'to be tight' Ships expected to 'stick to scrubbers' instead of buying low sulphur fuels.
Singapore developer conducting study for multi-tier storage tanks Believes 'stacking liquid tanks up' will result in 20% of land savings, says JTC spokesman.
Shipping companies to pay $44 million for Cosco Busan spill US state agencies will use $32 million to fund a Damage Assessment and Restoration plan.
Andatee CEO in $2 million share buy back scheme Regulatory restrictions imposed on the repurchasing plan in a bid to 'minimise the impact of purchases' on the stock market.
Clipper Oil launches Singapore office Former Hin Leong executive to head the Singapore office.
Kirby raises Q3 forecast On the back of high utilisation of its inland and petrochemical fleet.
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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