HNA boasts 40b yuan warchest for foreign deals HNA Group, the Chinese investor in aviation, shipping and hotels, said it has access to as much as 40 billion yuan (S$8 billion) of credit lines to support acquisitions in Europe and the United States.
Baltic index slips, ship supply weighs The capesize market should remain supported by healthy iron ore and coal exports to China, even as the Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned negative at the end of last week.
China may double bunker suppliers China, with the world's busiest port at Shanghai, may double the number of local companies allowed to sell tax-exempt marine fuel as demand from ships increases.
Huge rail market growth expected in Middle East The Middle Eastern rail market volume stands at EUR 1.6 billion, and is set to increase by an average of 13% per year to reach EUR 3 billion by 2015, according to a study entitled ...
Czech Airlines awards Aero Cargo GSA contract for Germany Czech Airlines has extended its cargo GSA relationship with the ECS Group by appointing Aero Cargo as its new partner in Germany. The airline previously awarded cargo GSA contracts...
Australian north coast rail upgrade proceeding apace The elimination of sharp bends in the interstate rail network between Newcastle and Queensland (Australia) is progressing on schedule, with a section between Rappville and Leeville...
Loxx to cooperate with Demas in Turkey The German transport company Loxx now cooperates with the Istanbul-based logistics service provider Demas International Lojistik Hizmetleri ve Tic. As part of the cooperation, Loxx...
UK P&I Club announces 3% overall increase for 2012 The premium rating of all UK P&I Club members will be increased by 3% on 20 February 2012. This was agreed by the UK Club's directors at a recent meeting in Athens. The decisio...
Charleston breakbulk volume surges with USD 23 million investment With a USD 23 million improvement project at its Columbus Street Terminal completed, the South Carolina Ports Authority (SCPA) is enjoying a surge in non-containerised cargo at the...
ALE appoints Alberto Pittaluga as country manager of new Iraq office ALE, a large and heavy load specialist headquartered in Staffordshire (UK), has opened a new office in Basra (Iraq), its first base in that country. Basra was chosen due to its str...
Fesco and BLG Logistics to cooperate in Russia The BLG Logistics Group and the Fesco Transportation Group have announced the creation of a joint venture to develop integrated logistics solutions for the automotive industry in R...
Aircastle provides two aircraft to support Southern Air's fleet renewal Aircastle Limited, a global company that acquires, leases and sells high-utility commercial jet aircraft to airlines throughout the world, and Southern Air Holdings have entered in...
Wüst building new logistics centre in Germany The excavators moved in at Wüst Logistik's headquarters in Weissenburg (Germany) recently, planning to complete the first stage of a new logistics centre by March 2012. The centre ...
ALC urges push for Australian transport regulation reform The Australian government's second so-called seamless economy agenda must focus on reforms that abolish inconsistent regulations and red tape between states, all of which adds cons...
1 million flights for air traffic management system With the words "you're identified", the air traffic controller confirmed the initial call of the Lufthansa pilot of flight DLH729 from Shanghai Pudong to Frankfurt, and t...
Brussels blocks SNCF plan to give ailing SeaFrance $139m funding Competition competitor says aid 'incompatible' with European rules
Heidmar pools sign up four new ships One VLCC and three aframaxes boost total fleet to 126
K Line sells two aframax tankers Deals in addition to VLCC sale, as Japanese owner shrinks fleet
VLGC market rally takes a breather Fixtures fail as caution clouds global LPG sector, leaving owners willing to discount rates
Kiel Canal a step closer to new locks Meeting raises prospects of Federal funding
ABN Amro to double shipping book Bank's transport chief Gust Biesbroeck says bottom of industry cycle good time to get in
Cash-rich Greek owners taking advantage of falling VLCC values At only a third of newbuilding prices, 10-year-old vessel values offer investment opportunity
Fesco adds Tacoma to Vladivostok service Fortnightly departure linking US Pacific Northwest to Russian Far East will offer 14-day transit time
Frontline continues to offload tankers Two more suezmax vessels reported up for sale in the secondhand market
Galileo finally leaves launch pad EU's answer to US GPS lifts off
Wärtsilä readies business for green rush Environmental services and gas engines key products for the future says new boss
India's oil destiny is linked to the Commonwealth India has the means but not the ways to tap its deepwater hydrocarbon reserves. There is an institution that could fill the gap
Asia takes premium pickings Gauging the size of the global marine market is hard, but it is clear Asia is on the rise and London is even more important than previously thought
Samudera's gross profit falls 85% Bunker prices and increased container charter hire rates push cost of services to nearly $109m
Demolition market in the doldrums Scrap rates fall below $500 per ldt with continued mismatch between breaker and cash buyer price ideas
Frangou fingers European problems as threat for bulk Navios Maritime Partners will be 'unaffected' by credit squeeze facing owners
Creditors release arrested Seaarland aframax RBS and Credit Agricole must now work with company on Chapter 11 restructuring plan
Short-period capesize charters hit $21,000 a day Spot market sentiment improves despite pessimism over China iron ore demand
Lloyd Fonds poised to get $21m injection from AMA Capital Partners Cash boost would allow the KG house to participate in part-consolidation
Scorpio Tankers charters in LR2 product tanker
UK releases national ports policy Long term port capacity demand to remain unaffected by global economic crisis
Northern Europe ports 'most efficient' Box ports have four times the throughput of southern rivals
STX Group confirms assets sales Owners of STX Pan Ocean and STX OSV will raise funds by stake sales in unnamed overseas assets by early 2012
Dr Peters KG fund files for insolvency Banks call in loan on fund that far exceeds market value of ships
EU ban on conferences fails to win a following Europe finds itself isolated, with no sign of a wider reform of maritime competition law
Trailer Bridge chief executive departs Latest development precedes crucial bond maturity in November
Noatum to stamp its name on former Dragados terminals Port operator wants to 'consolidate' its leadership in Spanish market
Like the Somme The mortality rate for Somali pirates suggests that they are formidable because they are desperate
Human cost of piracy The ordeal of Calixto Caniete, master of the Remuar, is a reminder of the urgency of dealing with the pirate scourge
Costs hit SITC profits as intra-Asia volumes increase Nine-month earnings show high growth in expenses balanced by one-time gains
High Oz dollar moves shipbuilder to Philippines AUSTRALIAN shipbuilder Austal said it plans to expand into Asia and possibly Europe
Frangou resets fee terms ANGELIKI Frangou's Navios Partners today announced profits in line with expectations and a new management deal that promises higher fees to parent Navios Holdings
Trailer Bridge boss quits BOX-BARGE operator Trailer Bridge has confirmed the resignation of CEO Ivy Barton Suter as the company's bond maturity deadline nears
'Pouncing on' stray tankers JAPAN'S No 3 carrier 'K' Line has sold a 2001-built VLCC and a 2002-built Aframax tanker, brokers told Fairplay today
NYK losses more than double NYK LINE has become Japan's third major carrier, after MOL and 'K' Line, to predict worse losses for 2QFY2011
Oz ports returning to costly waiting game THE WAIT to dock at Australia's Newcastle port will increase to 54 ships by the end of next month, IHS McCloskey predicted today
VLCC demand immune to 40% distance cut? TANKER voyage distances are likely to be cut by 40% when the Trans Myanmar-China pipeline is ready in June 2013, but growing Chinese crude imports would ensure long-term demand for VLCCs
90% tanker EPS fall warned NORWAY'S First Securities has predicted a sharp fall in 3Q11 results for listed tanker companies
MPS defeats lender challenge MARCO Polo Seatrade of the Netherlands and three related companies have won jurisdictional challenges in their Chapter 11 case, paving the way for more international owners to file for US relief
Wärtsilä using loan for R&D FINNISH engine maker Wärtsilä said today it plans to use a €150M ($207.8M) loan from European Investment Bank for R&D
Workers escape harm in Polish blast AN INQUIRY into an explosion is under way today at the western Polish port of Swinoujcie
SITC profits slide 12.9% HIGHER costs have pushed down the profits of China's intra-Asia box specialist SITC by 12
PIL hits target for PST PIL HAS acquired hit its target on the number of shares in Pacific Shipping Trust it need to proceed with its plan to delist and privatise the trust
China's ore appetite plummets FAR FEWER ships are being chartered to haul iron ore to China, where stockpiles of the steelmaking ingredient exceed 90M tonnes
Holiday package: even more box pressure LONG-HAUL box rates are continuing their slide, with economic woes and skewed supply-demand fundamentals failing to provide enough confidence to bolster the sector
Mica Wants Long-Term FAA Bill by End of 2011 House Transportation and Infrastructure Committee Chairman John Mica said he will take "every measure that's needed" to pass a four-year...
Diesel Prices Rise for Second Straight Week Diesel prices across the United States rose 2.4 cents in the week ending Oct. 24, increasing for the second straight...
Port of Seattle Imports Plunge 22.6 Percent Containerized imports into the Port of Seattle plunged 22.6 percent in September over the same month a year ago as...
Marten Transport Profit Rises 15.5 Percent Refrigerated trucker Marten Transport increased its net profit 15.5 percent to $6.3 million in the third quarter on higher operating...
FedEx Increases Holiday Hiring 18 Percent FedEx, showing strong confidence in U.S. consumers and e-commerce, says it will hire 20,000 seasonal workers to handle holiday deliveries...
Container Corp. of India Profit Down 16 Percent Container Corp. of India's profit in the second quarter fell 16 percent to $35 million, as the state-owned rail operator's...
Landstar System Profit Leaps 38.5 Percent Truckload giant Landstar System increased net profit 38.5 percent to $30.2 million on a 9.8 percent increase in revenue to...
Bob Evans Sells Midwest DC to Millard Refrigerated Bob Evans Farms is serving up a portion of its distribution network, selling its Springfield, Ohio, BEF Foods distribution center...
USA Truck Loses $4.3 Million, Rejects Celadon Talks Truckload carrier USA Truck rejected merger talks with larger rival Celadon Group despite falling back into the red with a...
US Distilled Grain Exports Will Rebound, Report Says U.S. exports of distilled grains with solubles should grow about 2.5 percent this season after declining 11 percent year-over-year in...
CN to Assist Grain Exporter with Supply Chain Agri-Food Central Ltd. has become the latest shipper to sign an agreement with Canadian National Railway whereby the two will...
Seeking Space, Creating Capacity "Share and share alike" is a maxim shippers find hard to follow, especially if it means sharing zealously guarded supply...
INTTRA Cargo Bookings Hit Record INTTRA, the e-commerce cargo-booking portal, said its electronic bookings reached a record high in the past two months. The...
Star Reefers Loss Widens to $14.1 Million Star Reefers' loss in the third quarter widened to $14.1 million from $3.7 million a year earlier as the Norwegian...
Japanese Exports Rise 2.4 Percent in September Japan's exports in September grew 2.4 percent year-over-year, increasing for the second straight month after five months of declines following...
Hong Kong Freight Tumbles 6.1 Percent Air freight moving through Hong Kong fell 6.1 percent year-over-year in September, the seventh straight monthly decline and a lackluster...
Trailer Bridge Replaces CEO Williiam G. Gotimer Jr. and Mark Tanner have been named co-CEOs of Trailer Bridge, replacing Ivy Barton Suter, who resigned...
Heading Down the Wrong Track? For months, year-over-year gains in rail freight traffic have countered gloom-and-doom warnings about the U.S. economy heading back into recession....
Drivers Dominate Trucking Worries What's keeping trucking executives awake at night as 2012 approaches? If it's not the threat of a double-dip recession, it's...
All Tracks Lead to Virginia The two Class 1 railroads serving the ports of Virginia are playing musical chairs. When the music stops, the big...
Not So Fast Track The Obama administration is moving quickly, by government standards, to reform the regulations that delay outbound shipments or add unnecessary...
US Takes a Latin Leap Latin America was the United States' fastest-growing partner among the major trading regions during the last decade, according to the...
Brazil Leads the Way Latin America's economies are as varied as the countries' political and economic foundations. "Every country is moving at a different...
Kickin' It Up a Notch For decades, economists have been telling the international trade and transportation industries that Latin America is the region of the...
The Cost of Inaction We're about a year away from the 2012 presidential election, and it's obvious to all that partisanship again is getting...
US-Canada's Taxing Debate One country's container tax is another country's trade barrier. A coalition of six major U.S. West Coast ports and two...
Rocky Road to Transport Deals Ray LaHood has had enough. President Obama's Republican transportation secretary, frustrated by lack of congressional progress to fix the nation's...
When the ASCE Talks, Congress Listens The American Society of Civil Engineers likely never intended to be the Cassandra of U.S. infrastructure decline, but Washington hears...
Big Ships, Bigger Decisions With the global shipping industry facing overcapacity, a decision over deployment is hardly an idle question for carriers ...
Matching Shippers, Mixing Modes Third-party logistics providers are by nature intermediaries linking shippers with carriers of all types. Now they're linking shippers with shippers....
Fujairah prices rise Earliest delivery dates from November 4-5.
Rotterdam and Hamburg bunker prices mixed Tights avails reported in Rotterdam.
Israeli court imposes country's 'highest ever fine' for oil spill Mediterranean Shipping Company fined $280,000 for Haifa bunker spill.
Icebreakers to be modified to cut emissions Engines will be be able to use Ultra Low Sulphur Diesel.
Russian supplier reports year-on-year growth Gazpromneft Marine Bunker says sales up by 37%.
Bunker player announces recruitment drive New traders wanted for its European offices.
Bunker prices firming as week begins Bunker avails mixed across key Asian ports on Monday.
Higher operating costs trim SITC profits Increases in bunker and charter costs.
Fishing vessels 'harassed' as they approach port to bunker Spanish operators say Argentine Navy is threatening them with fines.
Technology firm puts spotlight on PM and black carbon emissions Says its emissions sensor can measure PM and help operators evaluate ECA compliance and BC mitigation strategies.
Chinese government plans expansion of bonded bunker operations Ministry of Commerce formulating plan after receiving applications, says Sinopec spokesman.
Saudi Aramco sells low viscosity parcel at firm premiums Refiner fetches strong premiums due to heavy arrivals of high viscosity, high density cargoes amid low blendstocks.
Salvage ops on stricken vessel make 'good progress' Around 337 mt of oil had been pumped out of Rena as of Sunday afternoon.
Sinopec commences ops at new oil storage facility Jiangyin-based facility will store 30,000 mt of 380 cSt and 7,000 mt of MGO.
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