Pirate attacks rise as ransom payments jump Somali pirate attacks are increasing, spurred by a 36-fold jump in ransoms in five years, raising costs for shippers and the threat to vessels carrying 20 per cent of world trade.
Hyundai Heavy sees 14% rise in steel plate use Hyundai Heavy Industries, the world's biggest buyer of steel plates, plans to increase use of the material 14 per cent this year to the most since 2008 as it boosts production of container vessels and oil tankers.
Russia predicts surge in Arctic sea route, opening up of region Russia predicted on Tuesday a surge in voyages on an Arctic short-cut sea route in 2011 as a thaw linked to climate change opens the region even more to shipping and oil and mining companies.
Port of Kiel posts record handling figures The port of Kiel (Germany) handled 5.8 million t of cargo last year, the best result ever recorded by the port. This was a 19.3% increase over the previous year and considera...
Schneider + Cie takes over Glob-Sped The long-standing Basel (Switzerland)-based forwarding company Schneider + Cie recently acquired Glob-Sped AG, a rival forwarding and logistics enterprise headquartered in Pra...
Toshiba awards Panalpina overland transport from Germany to Moscow Toshiba has selected the Swiss transport and logistics provider Panalpina to handle its overland business from Regensburg (Germany), the location of one of its European distributio...
Wincanton secures contract renewal with Saint-Gobain in UK The UK-based logistics service provider Wincanton has secured a three-year renewal of its contract with French construction materials specialist Saint-Gobain to distribute the manu...
K+N expanding its European overland network Kuehne + Nagel is set to significantly expand its European overland network, by increasing the number of scheduled international lines from 300 to 500 by 2014, with departures doub...
German seaports handle 5.8% more from January to September 2010 Germany's seaports lifted approximately 5.8% more cargo in the first nine months of 2010, compared to the same time frame in 2009, according to provisional data releas...
Tiaca elects Michael Steen as chairman Michael Steen, executive vice-president and chief commercial officer of Atlas Air Worldwide Holdings Inc, has been elected as the new chairman of the International Air Cargo Associ...
More woes for VLCCs as Chinese traders fail to lift rates Hopes that Chinese oil traders chartering very large crude carriers ahead of the Chinese New Year holiday on February 3 would boost rates have failed to materialise
OOCL revenues soar as Asia-Europe trade revives Hong Kong line Orient Overseas Container Line saw revenues soar by almost 42% in the final three months of 2010, as liftings rose by 19%
Seoul court allows Korea Line to freeze charter payments Ruling could affect around 60 owners and up to 150 ships that the struggling operator has on long-term time charter
Korea Line may seek Chapter 15 protection Bond of $4.6m posted in New York could influence if company decides to seek US bankruptcy protection
Eagle has its wings clipped Eagle Bulk will have to renegotiate charters with Korea Line ...and it will have to take a haircut
Time to speed up? The correlations between slow steaming and demand for container shipping will not have gone unnoticed in various boardrooms
Georgia Ports backs Charleston dredging Supports harbour deepening project and development of new greenfield port
Hamburg to hold on to role as feeder hub Terminal operator HHLA confident it can see off competition from direct calls
Rule change could hit UK shipping firms Companies could lose tax advantages under rule change on capital allowances for ships
Danes make easy ride out of economic cycle Healthy competition has brought Danish owners out of the downturn in a position of strength
Danish Ports to launch dredging campaign Move to deepen approaches and fairways to attract larger vessels
Ship financiers avoid private equity due to write-off risk
Swap market making slow but steady progress Despite their resistance to derivative markets, some container lines are starting to show interest
Ill winds that raise a charterers' storm Modern seafarers live in a mistrustful world in which even a weather forecast can raise the spectre of litigation
Cosco boss sees huge opportunities for Chinese shipping Wei Jiafu says China's policies will offer shipping a platform for growth
First container freight swap agreement options trade completed Kerry Logistics and Hamburg-based Alfred C Toepfer International involved in options trade brokered by Clarkson Securities
Hamburg gears up for giant boxships Germany's biggest port recognises its recovery can only continue if it is ready for the next generation of container vessels
KG funds hit by Korea Line filing Funds surprised by carrier's move to file for court protection
Call to set up east Africa piracy courts and prisons New report proposes setting up of special courts and prisons to try and hold suspects
Hamworthy bullish on earnings Expects to beat earnings forecast as demand for its services increases
OOCL revenues up 42% in fourth quarter 2010 Revenue growth well ahead volumes, reflecting the steep recovery in freight rates lines secured in the early part of 2010
IUMI steps up Far East membership drive Steps up efforts to grow its presence in China and the region
IUMI calls for swift end to piracy threat Governments accused of not taking urgent action to ensure crew safety
Namura on guard against Korea Line defaults Insolvent shipowner has two vessels on order at shipbuilder
UK vows tougher action on piracy Shipowners will be able to use "every force" needed, says shipping minister Mike Penning
Iino confirms order for three new bulkers Japanese yard to build two panamaxes and a handysize
MSC dismisses talk of new service Line says no plans to add new strings on Asia-Europe or Asia-Mediterranean trades
New Century IPO plans resurface Shipbuilder seeks Hong Kong listing after scrapping Singapore bid
Hanjin agrees to push back US terminal start date Construction date of Jacksonville terminal could be delayed another two years
Cruise operators warned over insurance opt out clause IMO member states urged not to sign up to clause in Athens Protocol on passenger insurance liability
New boss for Tropical Shipping RICK Murrell, an influential stalwart in the Caribbean container sector, has been replaced as president of Tropical Shipping, Fairplay confirmed today.
Behind the re-export trend for LNG TIGHT shipping markets are giving re-exports an edge over floating storage of LNG, according to brokers.
US port work imperiled? PRESIDENT Barack Obama has proposed to freeze discretionary spending for the next five years and vowed to veto any bill containing "earmarks" for special projects.
Ex-port chief fined in Brazilian land scandal A FORMER port chief has been fined by a Brazilian tribunal in a land-use scandal.
CFSA 'first' widens options CLARKSON Securities has executed the first options trade based on the container freight swap agreement between Kuok/Kerry Group's Kerry Logistics UK and agro/energy commodities trader Alfred C Toepfer International GmbH.
EU NAVFOR: warships 'can't be everywhere' EU NAVFOR told Fairplay today that it "can't be everywhere at once" after a shipowner criticised the anti-piracy force over not responding to a pirate attack.
Why piracy suspects are evading prosecution A LACK of political will among developed nations is preventing regional countries from prosecuting piracy suspects, an IMO piracy workshop heard today.
Strikes hit Argentina port WORKERS at the Argentinian port of Rosario have begun an indefinite strike over salaries, IHS Global Insight reported today.
Maputo boosting capacity MAPUTO, Mozambique's leading port, has announced that its handling capacity will increase by 38% this year, IHS Global Insight reported today.
VLCC rate hopes fade HOPES that VLCC spot rates will lift in February are diminishing on weaker futures and a rise in the number of vessels open for fixing in the next 30 days, analysts said today.
Korean ports set record SOUTH Korean ports recorded record throughput last year, the government said today.
Adani signs $1.7Bn port deal in Indonesia ADANI has signed a deal calling for a $1.7Bn port and rail infrastructure scheme in Indonesia.
Russian trader asks court protection A RUSSIAN grain trader has filed for bankruptcy protection to fend off a takeover attempt of its export business by government-owned United Grain (OZK).
PME acquires half of Chinese terminal operator PME SAID today it has bought a 50% stake in Chinese terminal operator Rizhao Lanshan Wansheng Harbour.
Drybulk shares trimmed by Korea Line move SHARES in drybulk companies traded this morning in a narrow range in Europe, after deep losses yesterday followed news that Korea Line had sought court protection from creditors.
Port Corpus Christi Power Plant Wins Air Permit Port Corpus Christi passed an important hurdle Wednesday in its quest to move ahead with the huge Las Brisas electric...
Congressional Leaders Give Transport Bill High Priority Congressional leaders are moving a new six-year surface transportation bill higher on their priority lists after President Obama's call for...
Donohue, Trumka Stand Together on Infrastructure The head of the U.S. Chamber of Commerce and the chief of the nation's largest organized labor group, setting aside...
FMC Launches Slow Steaming Inquiry The Federal Maritime Commission is stepping up its attention to ocean carrier practices, voting Wednesday to launch a formal inquiry...
Maersk Upgrades 2011 Growth Forecast The global container market may grow by more than 8 percent this year, according to A.P. Moller-Maersk CEO Nils Smedegaard...
Marten Transport Profit Rises 22.2 Percent Higher intermodal and logistics revenue boosted fourth quarter profits and sales at temperature-controlled trucker Marten Transport, Mondovi, Wis. Marten...
Truck Tonnage Index Hits Highest Point Since 2008 Truck tonnage rose 5.7 percent last year compared with 2009, helping tonnage to recovery from an 8.7 percent plunge, the...
Canadian Pacific Profit Rises 27 Percent in 4Q Canadian Pacific Railway's fourth quarter net income spiked 27 percent from a year earlier to $187 million (C$186 million), outpacing...
Celadon Profit Jumps 190 Percent Truckload carrier Celadon Group's net profit increased to $2.9 million in its last quarter, nearly triple its net income a...
Transport Sector Praises Obama's Focus on Infrastructure Transportation trade groups are praising President Obama's call to rebuild the nation's efforts infrastructure but some members of Congress say...
French Dockers to Stage Third Weekend Strike French dockers and port workers will stage a four-day nationwide strike on Friday, Jan. 28, in a major escalation of...
Industrial Real Estate Sees Modest Recovery Industrial property markets are seeing "modest" recovery in line with a gradual strengthening of the economy, real estate investment firm...
Horizon Begins 15-day Shanghai-KC Transit Horizon Lines says the eastbound trans-Pacific service it launched in December is providing 15-day transits from Shanghai to Kansas City...
Korea Line Files for Bankruptcy Korea Line filed for a court receivership on Tuesday in the wake of losses caused by the global oversupply of...
Cargolux, Cathay Appeal Price-Fixing Fines Cargolux said Wednesday it will appeal the European Union's $109 million fine for participating in an international price fixing cartel,...
Industrial Price Index Hits 12-Month High The widely watched Industrial Price Index of materials pricing hit a 12-month high last week and rose at the fastest...
FMC reviews 6 OTI license applications The U.S. Federal Maritime Commission has received six license applications and changes for review. The FMC received a non-vessel-operating common carrier license application from JRM Freight Corp., Miami (Juan R. Albanes, treasurer). The agency rec...
Obama calls for investment in economic building blocks President Barack Obama said in Tuesday night's "State of the Union" address he plans to push for an export-oriented, manufacturing strategy for new innovative products, debt reduction and investment in education, research-and-development and infras...
Worth named MARS president for 2011 The Midwest Association of Rail Shippers elected a new slate of officers for the calendar year at its annual meeting in Oak Brook, Ill. on Jan. 12-13. Randy Worth, vice president and general manager of Merchants Distribution Service, based in Des M...
Railroads report big profit gains Eastern U.S. railroads reported big profit gains this week. CSX said it had net profit of $1.56 billion in 2010, a 37 percent increase over 2009. Revenue was up 18 percent to $10.6 billion. The company said it expected to report record results in 2...
Reduced dredging chokes Mississippi River A coalition of organizations and businesses that rely on the Mississippi River as a transportation corridor said budget cutbacks and restrictions imposed on the Army Corps of Engineers have resulted in reduced maintenance dredging. Ken Wells, coord...
Maersk shifts Gioia Tauro calls to Port Said Maersk Line said this week that due to "structural berthing constraints" in the Port of Gioia Tauro, it has decided to shift transshipment calls on some of its Mediterranean feeder services from the Italian port to Port Said in Egypt. Calls at Gio...
CTSA lines to raise currency surcharge March 1 Member lines of the Canada Transpacific Stabilization Agreement said Tuesday they will hike their currency adjustment surcharge to 8 percent beginning March 1. The surcharge was raised to 7 percent Dec. 1 and will stay at that level through Februar...
Horizon: Shanghai to K.C. in 15 days Horizon Lines has started offering a 15-day transit schedule for containerized cargo shipped from Shanghai to Kansas City on its new transpacific ocean service from China. The U.S. Jones Act carrier started its Five-Star Express (FSX) service betwe...
Senators introduce FTA, anti-sugar supports bills A bipartisan handful of senators Tuesday introduced legislation to support Congress' passage of several pending U.S. free trade agreements and calls to end anticompetitive supports for the country's sugar manufacturing industry. Sens. Rob Portman,...
Largest Baltic port sold in billion dollar deal The Primorsk Trade Port that last year shipped 77.5 million tons of crude oil and oil products, have been sold for USD 2.15 billion. Buyer is Russia's largest
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