Maritime firms to struggle with credit squeeze With fears of a recession rising, the maritime industry will find it increasingly difficult to obtain financing for expansion over the next year, with the exception of the offshore-energy sector, industry experts said.
Manila port steps up nuclear security THE United States has poured in US$26 million to improve security measures at the Port of Manila to protect against illicit shipments of nuclear and other radioactive materials.
Vietnam shipping firm paid US$2.6m in ransom A Vietnamese shipping firm paid more than US$2 million in ransom to free its crewmen held for months by Somali pirates, a company executive said yesterday after the sailors arrived home.
OAA expands aviation training in Europe and Hong Kong Oxford Aviation Academy (OAA) has inaugurated a multi-crew pilot licence training centre for Hong Kong-based airline Dragonair, a member of the Cathay Pacific Group. OAA and Dragon...
ADB helping rebuild Afghanistani roads and railways The Asian Development Bank (ADB) has approved USD 754 million in assistance to rebuild Afghanistan's shattered road and rail network, bringing to more than USD 1.7 billion the amou...
Senegal secures funding for new international airport Senegal has obtained EUR 406 million in long-term financing from a group of banks, including the African Development Bank, the French Development Agency, the West African Developme...
AirBaltic files for legal protection Latvia's national airline airBaltic has filed for legal protection to continue operations in its network in Europe, the Middle East, Russia and the rest of the CIS. The airBaltic b...
Gulftainer Group to invest in Ust-Luga The Gulftainer Group has concluded an agreement on cooperation and investment for the development of the multifunctional terminal ZUG2 with Russia's port of Ust-Luga at the Russia ...
Marport container port expands capacity Marport, the biggest Turkish container port, is expanding the quay length of its west terminal from 300 to 360 m. This will allow it to achieve global quality standards and make fu...
Volvo Trucks increases lorry deliveries by nearly 60% The Swedish commercial vehicle manufacturer Volvo increased its global lorry deliveries in August by 59% compared to on the same month last year. In Europe, 1,787 lorries were deli...
New Swiss brochure for future inland waterway sailors What is required for the profession of sailor on inland waterways? What is the training like? These are some of the questions that a new brochure published by the Swiss shipping an...
Slightly more ships laid up in port of Hamburg Only a random outcome or the first signs for a new shipping crisis? The Hamburg Port Authority (HPA) "is more inclined to see as a random increase" the number of ships la...
DHL now offers hi-tech perishables monitoring device DHL is supplementing its services for the life sciences and healthcare industries, as well as other sectors, by introducing DHL SmartSensor GSM, which enables comprehensive verific...
Gefco's Hanover and Munich sites now SQAS-certified Gefco Deutschland, which belongs to the French logistics group Gefco, has announced that its branches in Hanover and Munich successfully completed the assessment procedure under SQ...
Kuehne + Nagel wins French Connection fashion logistics contract Global logistics provider Kuehne + Nagel has been awarded a 5-year contract by fashion retailer French Connection for the warehousing and distribution of clothing and fashion acces...
MC Truck Rental expands fleet with Isuzu units MC Truck Rental, a UK-based dealer of commercial vehicles, has expanded its fleet by ten new Isuzu Trucks, earmarked for its primarily daily rental market. The Isuzu trucks are a m...
BNSF earns performance excellence award from Honda BNSF Railway, one of North America's leading freight transportation companies, was recently presented with the rail origin of the year performance excellence award at the American ...
EU to pledge more funding for shipping Brussels is clarifying terms under which owners can get aid ahead of environmental rule changes
Nine Baltic ports to seek EU funds for LNG bunkering project Interest in gas facilities boosted by of impending arrival of sulphur emission rules
Asry branches out again Shipyard in joint project with UK technology firm Centrax to design and build power barges
A future glimpse of maritime security? Maritime security companies will need to consolidate and merge over the coming years as the market matures and becomes more professional
Is the media making the economic crisis worse? Is the media making the global economic crisis worse and if so, should we pipe down?
Goldenport buyback signals undervalued shipping stocks Analysts say others set to follow suit amid signs shipping company stock is greatly undervalued
LNG vessel bets hinge on a looser trading market Orders could make sense if the market matures and unconventional gas exports start to emerge from North America, Australia and Africa
Nuclear still has future in Japan The Fukushima effect is not the long term key for liquefied natural gas as utility companies are already making moves to protect their investments
Shipping chronicler looks to the future After careers as a shipowner and prolific author, George Foustanos is embarking on his most ambitious voyage yet
All eyes on Libya as Greek aframax looks to load oil Vessel tracking data shows Thenamaris crude tanker has arrived in Libyan waters empty as Mellitah port reports ships loading cargo
UK shipping needs more time for pensions revamp Actuaries sound a warning as Chamber of Shipping outlines problems to minister
Resale tankers lose premium over newbuilding contract prices Value of a brand new, readily available VLCC drops below $100m for first time since January 2010
Bundesrat calls for standardised sulphur limits throughout EU German coastal states fear they will lose out to Mediterranean ports, which are not in ECA
Gard's gross written premium falls by $100m Marine insurer's assets rise to $2.7bn
Vale names next two VLOCs to be launched from DSME Speculation about vessel name change though
Modern capesize sold above market estimates at $39m Handful of sales concluded at firm levels, but brokers are cautious that prices can be sustained
VLGC rates boosted by European LPG imports increase from Middle East Freight rates hit fresh high as vessels are kept off the spot market on longer voyages
Dynagas sells 1977-built LNG carrier Sale comes as owner has been ordering new vessels
Old Sovcomflot product tankers fetch firm prices Sold to Norwegian operator at values similar to those seen in June
Chinese shipowner Tianjin Guodian buys handymax pair Prices firm compared to earlier sales this year
Making the world safe for Ecdis It is well that P&I clubs are reminding us to clear up the 'mysteries' of new technology on the bridge
Surge in pirate attacks feared as monsoon season peters out Strong southern weather may push Somali gangs further north, security firm warns
Bangladesh takes large vessels despite overall subdued scrap market Greek VLCC and an oil bulk ore vessel reported sold to Chittagong breakers
ThyssenKrupp in the frame for sale of Blohm+Voss non-naval activities Media reports suggest imminent deal with Star Capital Partners
Maersk LNG keeps potential buyers firmly under wraps As sale nears completion, Maersk LNG slams market rumours of bidders' identities
Shipowner bodies urge governments to finally ratify regulations Consistency is vital across all regions and for all stages of a voyage, say ICS and ISF
ITF to stage vessel safety checks in staggered weeks of action worldwide Japan, South Korea, Taiwan and Russia first in line for union inspections and protests
Europe frantically seeks solution to Greek crisis Future of the global economy and trade rests on finding a way to keep Greece in eurozone
Goldenport to buy back shares Company believes its shares are undervalued, says commercial director Dragnis
Brightoil shares plunge despite positive full year results Bunker supplier's stock falls more than 10% in a day of broad market turmoil as annual net profit jumps 15%
Bunge teams with Augustea AGRIBULK giant Bunge has announced a joint venture with Italy's Augustea Atlantica to operate a new fleet of drybulk vessels
Explosives in Chinese container found in Lagos NIGERIAN customs officials today discovered a container from China laden with explosives at the Tin Can terminal in Lagos, IHS Global Insight reported
Private equity behind Torge S buy EUROMAR, the joint venture between two private equity firms and Euroseas, confirmed today that it has acquired the 2003-built, 2,450teu containership Torge S, which will be renamed EM Andros upon delivery next month
Bunge to recoup charter debts AGRIBULK giant Bunge is moving to attach $26.2M in assets from Singapore's Glory Wealth to recoup charter debts dating back to 2009
Dubai terminal expansion plan announced DP WORLD yesterday announced the construction of another 400m of quay at Jebel Ali, increasing the terminal's capacity at the facility by 1M teu to 15M teu
Maersk in Singapore low-sulphur switch MAERSK Line has started using low-sulphur fuel in Singapore, it said today
Hanjin plans new share issue HANJIN Shipping said on 23 September that it would be issuing shares worth 472Bn won ($400M) and selling its stake in unlisted affiliate Hanjin Energy for 159.8Bn won in a move to shore up its balance sheet
Falling rupee drags scrap prices down SCRAP prices have fallen across Asia after stock markets suffered a tumultuous week and the Indian rupee weakened against the US dollar
Bleak mid-term outlook for VLCCs OSLO investment bank Pareto reduced its earnings forecasts for VLCCs, Suezmaxes and Aframaxes this morning after spot freight rates for VLCC tankers continued at low levels on Friday, claiming the slump in the sector would extend till 2014
Older VLCCs tipped for FPSO role TANKER broker EA Gibson reported today that three single-hull VLCCs were scrapped last week in a move that could allow older double-hull VLCCs to move into storage roles or for conversions to FPSOs
Secondhand Capesize prices rise SEPTEMBER'S Capesize bull run has pushed secondhand ship purchasing activity upwards, with three ships sold last week, compared to none the previous week
Capesize charter rates firming STAR Bulk Carriers has sealed a time charter contract with Louis Dreyfus Commodities Suisse for its second Capesize newbuilding, the Star Polaris
Asia-Europe box rates hit new low DEEPSEA container freight rates dived on the Shanghai Containerised Freight Index to new year-to-date lows last week, as hopes of a peak season increase further diminished
ILWU's McEllrath Surrenders to Police International Longshore and Warehouse Union President Bob McEllrath surrendered to law enforcement officials on Monday to face misdemeanour charges relating...
Holland's Rogers Names President of YRC National YRC Worldwide named Jeff Rogers president of long-haul less-than-truckload carrier YRC and Mike Naatz president of regional LTL subsidiary Holland....
Court Strikes Down Port of LA Driver Mandate A federal court of appeals on Monday struck down a controversial employee-driver mandate in the Port of Los Angeles clean-truck...
Morgan Stanley Sees Truckload Demand Rising There may be more of a peak in trucking's peak shipping season than expected this year, according to Morgan Stanley...
Geithner Touts Infrastructure Plan at UPS Air Hub Treasury Secretary Timothy Geithner toured the UPS Worldport air hub at Louisville, Ky., Monday, as part of the Obama administration's...
ICS Urges Governments to Approve Safety Measures The International Chamber of Shipping on Monday urged global governments to ratify and implement several maritime conventions needed to maintain...
Used Truck Sales Drop 3 Percent in August Good used trucks are getting hard to find. Sales of medium- and heavy-duty used trucks dropped 3 percent from July...
Feds Sue New Prime For Sexual Discrimination The Equal Employment Opportunity Commission is suing New Prime, one of the largest U.S. truckload carriers, for discrimination against...
New Home Sales Slide 2.3 Percent Sales of new homes fell for the fourth straight month in August, declining to a six-month low and dampening prospects...
DOT Approves $150 Million in New York Rail Grants Amtrak, CSX Transportation and other freight railroads in New York state will benefit after state officials got clearance from the...
Savannah Expands Refrigerated Storage The Georgia Ports Authority board approved a $4.75 million project Monday that will expand the Port of Savannah's capacity for...
NYK Sets Congestion Fee For Indian Port Japanese ocean carrier NYK Line imposed port congestion surcharges on containerized shipments moving through Port of Chennai, and other lines...
DP World Plans Major UAE Terminal Expansion Dubai's DP World will boost annual capacity of its flagship Jebel Ali container terminal by 1 million 20-foot equivalent units...
DP World's Egypt Terminal Opens After Strike DP World restarted operations at its Egyptian container terminal on Sunday night following the end of a six-day strike by...
Japan's Sendai Airport Restarts Global Service Japan's Sendai Airport restarted regular international flights on Sunday, more than six months after the devastating tsunami submerged the airport's...
Fight Over Coal Ash U.S. road builders are warning a proposed rule change by the Environmental Protection Agency could produce much higher costs for...
Money in the Box There are no sure bets in shipping, but container leasing comes close. Box lessors profited throughout the recession, boosted their...
Busman's Holiday Summer is just about over and hopefully you've had a chance to get some down time: some activity that gets...
'Words of Wisdom' from a lifetime achiever James Gresham Davis Esq., CBE, K(DK) received a richly-deserved Lifetime Achievement Award at the Lloyds List Global Awards on September 22: a fitting accolade for a charismatic industry veteran whose commercial shipping career history - starting in 1952 at P&O Steam Navigation - includes; Kleinwort Benson, BIFA, DFDS, the Institute of Chartered Shipbrokers, and last but not least, as the incumbent chair of the think-tank International Maritime Industries Forum (IMIF) - the long list taking an impressive chunk of a Debrett's people page
Middle East trades under pressure
DP World to raise box handling capacity
LA Port and BNSF step closer to building intermodal Gateway Project
Golden Ocean grabs shares Herman Billung-led bulker owner makes good buy-back promise as two-day spree surpasses half a million bucks.
Green Reef grabs lifeline Eidesvik family investment wing rides to the rescue as Oslo-listed reefer owner grapples with frozen market and cash squeeze.
Augustea backs Bunge JV Raffaele Zagari-led shipowner joins forces with US-listed agricultural giant in a bid to build an independent fleet of bulkers.
Bunge hunts Glory cash Swiss giant targets Glory Wealth Shipping's US bank accounts in a bid to claw back cash tied to collapsed charters.
Citi backs offshore plug Drillship, rig and LNG orders to "protect" giant Korean shipbuilders during tanker and bulker wobbles, analyst says.
CCM flags cape crunch Clarkson Capital Markets analyst says bulker rates may be in trouble as iron ore inventories trend higher.
Three times unlucky Former Great Lakes bulker still stuck off Canada after refloating attempts fail.
Cunard's wedding jitters Carnival brand is weighing up its options to avoid being left standing alone at the altar.
Humpuss aims higher Indonesian tanker owner expecting 30% boost to bottom line in 2012 as it teams up with MISC.
Euromar makes it eight Aristides Pittas-led containership venture emerges as buyer of Schepers Bereedrung vessel.
No free lunch for yards Croatian shipyards face production limits if they are to remain reliant on state aid.
Navy thwarts attacks Indian warship deploys commandos and helicopter to foil hijacking attempts on Singapore tanker and Greek bulker.
Handy deal for Grecomar Greek owner pens period charter for handysize newbuilding nearing completion at Daesun.
Goldenport's buy-back bid Paris Dragnis-led shipowner sniffs a bargain as it launches share purchase scheme for its "undervalued" stock.
Shipping group pushes treaty ratifications The International Chamber of Shipping (ICS) and its sister organization, the International Shipping Federation, are urging for ratification and implementation of what they say are crucial maritime conventions. "It is crucial that the same regulatio...
Nearly all Horizon's notes tendered The domestic container shipping company Horizon Lines said nearly all of a group of note holders have tendered their securities and that it expects to complete its financial restructuring by the end of this month.Horizon said it had extended the e...
Pirates set fire on ship A ship was reportedly set ablaze by pirates last week after they were unable to take it.TheKenyan Broadcasting Corp.said 25 member crew of thePacific Expressarrived in Kenya over the weekend after being rescued by an Italian Navy ship.The Internat...
CEOs ask Congress to invest in transport system Heads of some of the largest U.S. manufacturing and transportation companies last week sent a letter to the leaders of the U.S. House and Senate urging serious attention be given to passage of a long-term investment program aimed at repairing and u...
Popular Customs chief to lose post U.S. Customs and Border Protection and industry officials are preparing for life after Alan Bersin with no signs that the U.S. Senate is prepared to confirm him as commissioner so he can remain in office. Unless the Senate Finance Committee formall...
DP World increases Jebel Ali capacity The port operator DP World said a 400 meter quay extension at thePort of Jebel Ali will boost capacity from 14 million TEUs to 15 million TEUs.The expansion is slated for completion by the end of2012.By extending the quay at Jebel Ali Container Te...
Prices generally down in the Middle East Avails tight for prompt dates in Durban.
Brightoil shares fall despite strong results Analyst says the Hong-Kong listed bunker player has 'huge funding need'.
'Surge' in demand for middle distillates 'Gasoil, kerosene and diesel is where the growth is coming from,' European refiners told.
Russian Arctic route 'will rival' Suez Putin says developments will make the Northern Sea Route 'an international transport artery' within a few years.
Bunker spill during refuelling Receiving vessel to be sent to dry dock for inspection and repairs.
Week opens with falling prices Mixed demand at key Asian bunkering ports on Monday.
Indian fuel oil parcels sold at 'highest ever' premiums Amid strong demand and low avails of readymade bunker fuels in Asia.
VLCCs 'first' to get MAN Diesel's fuel-saving engines Engines offer 4-7% reduction in fuel consumption, says MAN Diesel.
Maersk's fuel switch to see its SOx emissions cut by 65% About 80% of Maersk Line's vessels calling to Singapore have switched to low sulphur fuels, says CEO for the Asia Pacific region.
Brightoil triples annual bunker revenues Eyes 'new positions' and ports in China to 'enhance' its competitiveness.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
