Asia tanker rates seen near 2-month lows Rates for crude tankers on key Asian freight routes are expected to hover near two-month lows as ample tonnage offsets support from the International Energy Agency's (IEA) decision not to release more oil from its stockpiles.
Baltic index falls for 12th day on vessel glut The Baltic Dry Index, a measure of commodity transportation costs, slid for a 12th day in London because of a glut of iron ore carriers competing to transport the ingredient used to make steel.
Japan's corn imports seen falling 5% Japan, the world's biggest corn importer, may buy the fewest cargoes in a quarter century as concern about radiation-tainted meat curbs livestock production.
Strait Talk
It's something personal for the good captain OVER the years, this column has highlighted the continuing needless death toll in enclosed spaces on merchant ships. Together with lifeboat deaths in the same industry, enclosed spaces deaths are tragedies that just should not happen, and shipping can do something about it.
Shipping Times
Crash may undermine China's rail suppliers Chinese rail suppliers, who helped build the world's largest bullet-train network in less than a decade, may struggle to sell equipment overseas after two locomotives collided, killing at least 39 people.
Parallel import trade continues free fall The parallel import trade has slowed down to a snail's pace, with only 1,403 grey imports registered here from January to June 2011.
Asia tanker rates seen near 2-month lows Rates for crude tankers on key Asian freight routes are expected to hover near two-month lows as ample tonnage offsets support from the International Energy Agency's (IEA) decision not to release more oil from its stockpiles.
Baltic index falls for 12th day on vessel glut The Baltic Dry Index, a measure of commodity transportation costs, slid for a 12th day in London because of a glut of iron ore carriers competing to transport the ingredient used to make steel.
Japan's corn imports seen falling 5% Japan, the world's biggest corn importer, may buy the fewest cargoes in a quarter century as concern about radiation-tainted meat curbs livestock production.
Strait Talk
It's something personal for the good captain OVER the years, this column has highlighted the continuing needless death toll in enclosed spaces on merchant ships. Together with lifeboat deaths in the same industry, enclosed spaces deaths are tragedies that just should not happen, and shipping can do something about it.
Shipping Times
Crash may undermine China's rail suppliers Chinese rail suppliers, who helped build the world's largest bullet-train network in less than a decade, may struggle to sell equipment overseas after two locomotives collided, killing at least 39 people.
Parallel import trade continues free fall The parallel import trade has slowed down to a snail's pace, with only 1,403 grey imports registered here from January to June 2011.
Asia tanker rates seen near 2-month lows Rates for crude tankers on key Asian freight routes are expected to hover near two-month lows as ample tonnage offsets support from the International Energy Agency's (IEA) decision not to release more oil from its stockpiles.
Baltic index falls for 12th day on vessel glut The Baltic Dry Index, a measure of commodity transportation costs, slid for a 12th day in London because of a glut of iron ore carriers competing to transport the ingredient used to make steel.
Japan's corn imports seen falling 5% Japan, the world's biggest corn importer, may buy the fewest cargoes in a quarter century as concern about radiation-tainted meat curbs livestock production.
Strait Talk
It's something personal for the good captain OVER the years, this column has highlighted the continuing needless death toll in enclosed spaces on merchant ships. Together with lifeboat deaths in the same industry, enclosed spaces deaths are tragedies that just should not happen, and shipping can do something about it.
Shipping Times
Crash may undermine China's rail suppliers Chinese rail suppliers, who helped build the world's largest bullet-train network in less than a decade, may struggle to sell equipment overseas after two locomotives collided, killing at least 39 people.
Parallel import trade continues free fall The parallel import trade has slowed down to a snail's pace, with only 1,403 grey imports registered here from January to June 2011.
GEFCO Brazil implements tracking system The Brazilian subsidiary of GEFCO has implemented a transport management system (TMS) that is connected with an application for geographical tracing. In future they are going to im...
CN will start the work for the new intermodal facility at Conrich soon Canadian work will start shortly on its planned 243 ha intermodal facility at Conrich, Alberta, northeast of Calgary. The Logistics Park will have more than 185,000 sqm of warehous...
Rail link between Russia and Abkhazia opened A rail link between Russia and the Republic of Abkhazia is now open. Rail services between the Russian Federation and the Republic of Abkhazia had been temporarily suspended in Feb...
Volkswagen Utility Vehicles achieves worldwide plus in deliveries In the first six months of the current year Volkswagen Utility Vehicles records further strong increases in delivery figures. Until the end of June the company had delivered 260,30...
Raben Logistics Germany expands location in Würzburg The transport and logistics provider Raben Logistics Germany , which belongs to the international active Raben Group, recently opened a new branch in Würzburg/Reichenberg (Germany)...
DB Schenker repositions domestic distribution in North America DB Schenker is going to reposition the domestic distribution business in the US, Canada and Mexico. This was decided by the board of directors of the US subsidiary Schenker, Inc. T...
Ruslan International loads 6.74 metre diameter bearing ring into An-124 The Antonov An-124, best known for its long history of transporting challenging heavy- and outsize loads, has just carried a 6.74 metre bearing ring. The bearing ring, for a mining...
Swissport International appoints new EVP for Business Development Swissport International, the world's leading provider of ground services to the aviation sector, is pleased to announce the appointment of Roman Hermann as the company's new Execut...
First departure from Le Havre of Hanjin's new Japan/Asia service Hanjin, among the six largest container lines of the world, is after several years again serving Japan. The first departure from Le Havre was on 15 July by «Orpheus» at the Quai ...
Shippers welcome reduction of sulphur in marine fuel, but "need more time" The European Shippers Council welcomes the recently adopted global IMO agreement regarding a reduction of sulphur in marine fuel for ships operating in the North Sea, English Chann...
Grimaldi awarded the new ferry terminal at the port of Barcelona The Grimaldi Group has been awarded a 15-year concession (renewable for another 7.5 years) of the new 60 000 sqare metre terminal "Muelle Costa" at the port of Barcelona,...
Southern Air operates B747 freighter for Saudi Cargo Southern Air Holdings Inc, based in Norwalk, Connecticut, USA, and Saudi Airlines Cargo Company (SACC) have signed a definitive agreement under which Southern Air will operate one ...
Rise in shorter tanker voyages erodes daily earnings potential Vessel oversupply and record Asian newbuilding deliveries also stifle tanker returns
US oil stocks release boosts Caribbean aframax market Aframax tonnage in the Atlantic reduces as vessels are employed to ship US reserve barrels, supporting rate rise
All dry bulk carrier sizes to achieve similar returns in 2011 Earnings for all four basic vessel sizes within a $3,000 range
The Strategic Petroleum Reserve The release of US Strategic Petroleum Reserve crude oil into the domestic market was part of the International Energy Agency's move to push stocks into the market to meet a shortfall in supplies caused by the cut in production from Libya
Dry bulk owners hit by plummeting Indian iron ore exports to China Rise in demand for India's steel industry drives drop of 20% in year to March
Warsash model fleet finds a new home at Timsbury As ships get bigger, shiphandling skills matter more than ever, and Warsash Maritime Academy's new training facility could prove highly beneficial
Hypocrisy of China's shipowners When shipping costs of iron ore rose, a lot of new Chinese shipping companies came into the business and ordered hundreds of bulk carriers with no charter cover
Sea-Land pioneered 'bridge forward' feedership design 'New' Graig design poses similarities with 1960s Sea-Land version
Enigma of a financial crisis forestalled Banks avoided foreclosure during the worst of the financial crunch. But will it come back to haunt them?
Swaps loss impacts Danaos result Containership owner is still shaking off effects of major refinancing, but revenues surge 35%
Proof needed to invoke BIMCO radioactivity clause North of England P&I warns members to invoke clause only with evidence from official authorities
MEPs raise concerns over Liverpool cruise plans State aid would give unfair advantage to cruise terminal
DryShips to swallow OceanFreight in cash and stock deal Deal will give George Economou-led owner largest capesize fleet among listed peers
Uncertainty abounds over Iran shipments Constantly evolving sanctions add angst and paperwork to P&I workload
DFDS and Louis Dreyfus bid for SeaFrance Plan to merge cross-Channel ferry businesses into one operator
Contracts and the doctrine of estoppel Judgement in Ing Bank NV v Ros Roca SA shows importance of communication
Underwriters wait to see impact of IMO ship efficiency drive As long as vessels are not compromised on safety it is not the real concern of underwriters, but the industry will not welcome even more regulation that heightens liability
Singapore releases sustainability guidance, but urges compliance Bourse outlines reporting recommendations for key industries, including shipping
Mombasa port privatisation on hold Talks hampered by dockers' strikes over employment guarantees
Volumes surge at DP World Strong growth outside Europe boosts liftings
Scary assets Yangzijiang is a shipbuilder, not a hedge fund, and its involvement in complex 'held to maturity' financial instruments should be questioned
Seacor earnings dive as Deepwater Horizon clean-up winds down Second quarter net profit falls to $9m compared with $64m for the same period a year ago
Shippers call for lower rates in return for slow steaming BDP research shows that Europeans have felt greatest impact to levels of inventory
Slow steaming's challenges Even an improvement in schedule reliability might not save the box lines from a switch in supply chains away from Asian production to near-sourcing
National Container sets up its own rail freight provider New company will run block trains for St Petersburg box terminal, with similar links planned for Ust-Luga hub
Weak freight rates take their toll on boxship charter market More layups expected as fixtures and charter periods decline
Tanjung Pelepas container volume rises 16% Malaysian port easily outperforms Singapore in first half of 2011 and says momentum will continue
Nam Cheong seals $38m deal for three AHTs Shipbuilder wins order from newly-incorporated Singapore company Sentinel Marine
DFDS, LDA launch SeaFrance bid FRANCE'S Louis Dreyfus Armateurs said today it has submitted a joint bid with Denmark's DFDS for part of ailing ferry operator SeaFrance
Greeks seize 215 migrants GREEK coastguards have intercepted and rescued 129 migrants sailing in an overloaded catamaran off the West Coast
NOL shares fall on warnings SHARES of Singapore's NOL dropped today after securities companies predicted that the box carrier would incur higher 2Q2011 losses than predicted
Port internet services found lacking A QUARTER of ports surveyed by the International Committee On Seafarers' Welfare offer wireless internet for seafarers, the charity told Fairplay today
Emerging markets offer box 'bright spot' BOX CARRIERS are taking consolation in stable rates on emerging trades as Asia/Europe and trans-Pacific rates continue to slide, even in the traditional third-quarter peak season
Covenant risks heighten DEUTSCHE Bank analyst Justin Yagerman today graded down three drybulk stocks and warned that pressure from lenders could escalate
DryShips swoops on OceanFreight GEORGE Economou-led DryShips said today it will expand its presence in the largest bulker classes through a full takeover of OceanFreight
HCI confident on Beluga's restructuring THE CEO of German KG house HCI Capital told Fairplay the redeployment and restructuring of its multipurpose fleet after the Beluga bankruptcy is on track
DP World gains 11% in teu DP WORLD told NASDAQ Dubai today that it handled 11% more containers in this year's first half than in that period of 2010
NOL seen 'deeper into red' DBS VICKERS predicted that NOL would incur at least $50M in losses for 2Q2011 and that the share price would drop to S$1.25
Breaking even's even harder for VLCCs VLCCs delivered this year and in 2012 would need about $40,000 per day just to break even, Poten & Partners has warned
Xiamen to buy stake in container terminal XIAMEN'S port plans to buy part of a stake in Xiamen Songyu Container Terminal
Jasper terminal revived PLANS for the Jasper Ocean Terminal in South Carolina are back on course after project officials approved its fiscal 2012 budget, Fairplay has been told
Jurong makes auditor claim JURONG Shipyard, a subsidiary of Singaporean rig builder Sembcorp Marine, is seeking arbitration against its former auditor, Ernst & Young
Hansen to join box-giant flotilla THOMAS Preben Hansen, CEO of RMT, told Fairplay today it plans to jump on the giant box ship bandwagon
Norfolk Southern Hikes Dividend 7.5 Percent Norfolk Southern Railway is increasing its dividend 7.5 percent to 43 cents a share. The large eastern-U.S. railroad on...
Higher Truck Sales Power Up Eaton Profit High demand for heavy trucks in the U.S. drove up sales and profit for drivetrain supplier Eaton in the second...
FedEx Absorbs Mexico's MultiPack, Distribution System MultiPack, formally Servicios Nacionales Mupa, has trucking, express package and warehousing operations across Mexico. FedEx last December announced plans to...
UPS Launches Cologne-Chengdu Weekly Service UPS began daily service from its major European hub in Cologne, Germany, to growing Chengdu, China, as the package-delivery giants...
Panama Begins Pouring Concrete for New Locks The contractor group that is building the new set of locks for the Panama Canal began permanent concrete work...
Truck Tonnage Index Rises 2.8 Percent For-hire truck tonnage rose 2.8 percent in June after falling a revised 2 percent in May, indicating that freight shipping...
Vitran Loss Deepens in Second Quarter Canadian less-than-truckload operator Vitran lost $2.3 million in the second quarter, despite a 23.1 percent increase in revenue to $208.9...
C.R. England Makes Management Changes Top executives are shifting jobs at truckload carrier C.R. England, with CEO Dean England taking the president's title from Chairman...
CIT Rail Orders 5,000 New Railcars Railcar fleet leasing firm CIT Rail ordered 5,000 hopper and tank cars for about $475 million, with production to be...
DFDS, Louis Dreyfus Jointly Bid for French Shipping Line Denmark's DFDS, northern Europe's largest short sea carrier, and French ship-owner Louis Dreyfus Armateurs, on Tuesday launched a joint bid...
UPS Boosts Profit 26 Percent UPS reported a 26 percent profit increase to $1.7 billion in the second quarter, as the package-delivery giant grew...
Tacoma Container Traffic Down 11 Percent The volume of containers handled by the Port of Tacoma dropped by 11 percent in June compared to the same...
Danaos Trimmed Loss Sharply in Second Quarter Danaos, the Greek containership owner, reported a sharply lower second quarter loss compared to the same period a year ago,...
Japanese Ship Orders Sink 65.7 Percent Japanese export ship orders fell for the second straight month in June on a year-on-year basis, plunging 65.7 percent to...
Nehru Port Plans to Build Fifth Terminal India's Port of Jawaharlal Nehru (Nhava Sheva), which is struggling to cope with increased congestion, unveiled plans to build a...
DP Traffic Grew 11 Percent in First Half DP World said an 11 percent jump in container traffic in the first half of the year will deliver "significant...
UPS 2nd quarter net income up 26% UPS reported on Tuesday second quarter net income of $1.06 billion, a 26 percent increase over the same period last year. Revenue was $13.19 billion in the quarter, 8.1 percent higher than the $12.2 billion earned in the second quarter of 2010. Th...
Europe/Asia rates drag APL revenue in June Singapore-based NOL, parent of liner carrier APL, said in an operational update that its container shipping revenue per 40-foot equivalent unit fell 13 percent in June compared to the same month in 2010. The carrier ascribed the fall in revenue to ...
CMA CGM adds Xiamen on Asia/Europe loop A CMA CGM loop between Asia and Europe has added a eastbound call at Xiamen, according to American Shipper affiliate ComPair Data.The line's 11-ship FAL3 service now has a rotation of Qingdao, Ningbo, Chiwan, Nansha, Yantian, Cai Mep, Port Kelang, ...
MOL (America) promotes Craig Craig Liner carrier MOL said Monday that Richard Craig, area operations vice president for MOL (America), has been promoted senior vice president of operations. Craig will be appointed to the MOL (America) executive committee and the MOL (Panama) b...
Crowley names Cosgrove VP marine operations Crowley Maritime Corp. has appointed Cole Cosgrove to vice president of marine operations for the company's liner services groups. Cosgrove will be responsible for the marine operations of Crowley's Puerto Rico and Caribbean services fleet of four...
Southern Air gives lift to Saudi Airlines Southern Air Holdings and Saudi Arabian Airlines have signed an agreement under which Southern Air will operate one Boeing 747 freighter on behalf of Saudi Airlines Cargo Co. on an ACMI (aircraft, crew, maintenance and insurance) basis. The plane w...
FedEx Express completes MultiPack buy FedEx Express on Monday completed the acquisition of Servicios Nacionales Mupa, S.A. de C.V., which strengthens its network in Mexico. "The acquisition of MultiPack further solidifies our long-term presence in the market," said Michael L. Ducker, ...
U.S. steps up fight against Khapra beetle U.S. Customs and Border Protection said it will enforce a federal quarantine order starting July 30 that restricts the import of rice into the United States from countries with known Khapra beetle infestations. The U.S. Department of Agriculture's...
Star Reefers posts loss Rise of over 30% in Rotterdam bunker prices 'the single most important factor effecting the market'.
IMO's backing for EEDI will help South Korean shipyards Officials claim South Korea has the 'most advanced environment-friendly shipbuilding technology in the world.'
Bank wants 'leading role' in bunker sector National Bank of Fujairah 'in good shape to weather market conditions'.
Bunker prices in Asian ports lack direction Mixed demand at Asia's key bunkering hubs on Tuesday.
Japanese shipping company to build LNG powered car carrier Car carrier expected to cut NOX emissions by 80-90%.
Bominflot changes senior management Tino Kleinitz hands over responsibilities for bunker sales and supply to Rune Larsen.
Seacor net profits down 85% on year Inland river services division operating profit 'negatively impacted' by price of bunker fuel and flooding.
Berth congestion at Colombo Bunker deliveries proceeding as normal despite unloading delays.
Lukoil deploys renovated bunker tanker Renovations completed to comply with MARPOL requirements.
Rising bunker bills 'drastically' eroding profitability 'Very little revenues left' for shipowners to meet obligations outside immediate operating costs, says shipbroker.
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