Oversupply of vessels a drag on Baltic index The Baltic Exchange's main sea freight index .BADI , which tracks rates to ship dry commodities, turned barely positive on Friday, although sentiment was expected to remain weak due to a glut of vessels.
Hainan banks on yachting industry to boost tourism Officials in China's southernmost island province of Hainan are hoping a fledgeling yachting industry would give the famed tourism destination the edge to draw wealthy tourists from home and broad.
Ceva appoints Juan José Yabar as Iberia contract logistics director Ceva Logistics, a leading global supply chain management company, has appointed Juan Jose Yabar as its new contract logistics operations director for Spain and Portugal. Yabar has ...
SDV names new commercial team members SDV recently strengthened its commercial management teams in China, the USA, Belgium, the Netherlands, Luxembourg and at company headquarters in Paris, in order to accelerate its d...
Group 7 publishes sales figures for first time The German service provider Group 7, headquartered in Schwaig near Munich, published its sales figures for the first time recently, on the fifth anniversary of its founding. The lo...
DB Schenker headquarters moving to Frankfurt in 2013 DB Schenker, the transport and logistics division of Deutsche Bahn, is moving to new headquarters in the Alpha Rotex building near the airport in Frankfurt am Main in 2013. DB Sche...
Logwin expanding fashion logistics facilities in Vietnam Logwin, a leading provider of global logistics services, is well positioned to benefit from a sustained export boom in Vietnam, driven by growing garment manufacturing and a dramat...
Geis takes over Czech air and sea freight specialist The Geis Group, a global full-service logistics provider based in Bad Neustadt (Germany), took over the Czech logistics services provider Machspeed on 1 January. Company founder Jo...
Emirates to honour Kuwaiti national day with A380 flight Kuwait is celebrating its 50th national day today and to mark the event, Emirates will operate a one-off Airbus A380 service to Kuwait national airport tomorrow (26 February). The ...
Hainan Airlines increasing domestic services China's Hainan Airlines launched a daily Hefei-Xiamen service today. The airline is additionally increasing its Hefei-Taiyuan links from two to seven a week.
Transalpine service between Turin and Lyon to be discontinued The Italian state railway Ferrovia della Stato (FS) wants to discontinue its transalpine railfreight service Autostrada Ferroviaria Alpina, which links Turin and Lyon. The connecti...
Largest tanker ever built in Turkey finished The building of the "Diamond-T", the largest tanker ever built in Turkey, was finished in Kocaeli/Izmit recently. The 25,000 dwt chemical freighter, 169 m long and 25 m w...
Bayernhafen group improves throughput The Bayernhafen group is now benefiting from infrastructure investments made during the economic downturn. Throughput at its six locations in Aschaffenburg, Bamberg, Nuremberg, Rot...
Grimaldi's "Grande Costa d'Avorio" launched The launch of the latest newbuilding to enter the fleet of the Naples-based Italian shipping line Grimaldi Compagnia di Navigazione took place at the Uljanik Shipyard in Pula (Croa...
Rail Cargo Hungaria signs huge long-term contract Rail Cargo Hungaria has signed a new long-term contract with ISD Dunaferr, one of its biggest partners, as well as the latter's subsidiary ISD Portolan. Rail Cargo Hungaria said th...
New online platform for transport tenders A new online platform called transportis.eu enables companies to send tenders for one-off or regular transport jobs in all of Europe to 70,000 vetted transport enterprises. The Pol...
Lowest accident rate in aviation history The International Air Transport Association (Iata) has published the aviation safety performance for 2010, showing that the year's accident rate for western-built jet aircraft was ...
South Africa to introduce telematics solution for freeways The South African national road agency is set to introduce a EUR 85 million intelligent telematics transportation solution for freeways. The focus of the system is to reduce delays...
Improved fortunes foretell UAE rebound Dubai's financial woes could be behind them thanks to a buoyant maritime sector and brisk business
Shipowners split as lines prepare for new box era Business strategies will need to be reassessed when 18,000 teu vessels reshape container trades
Cyclone blow to owners on charter contracts Capesize operators are idling ships or ballasting to the Atlantic basin
New starts for heavy hitters United Arab Shipping Co and Gulf Nav UASC has secured favourable financing for the final three vessels of nine that it purchased at the height of the boom
Vale ore shipments top 254m tonnes Brazilian miner to expand output to 522m by 2015 as it cut exports to China as European demand recovers
Libyan aframax rates soar as owners demand premium Cross-Med rates witness major turnaround as disruption cuts available aframaxes in region
True scale of box lines' losses revealed New analysis shows carriers on average lost $229 on each teu they carried in 2009
Owners warned to rein in on boxship ordering Container industry has a history of 'building itself into trouble'
Private equity fit Container leasing companies are enjoying a comparative Golden Age and proving a perfect fit for private equity
Carlyle eyes 15% stake in Qube Move could prompt further round of consolidation in Australian port scene
Taking the right risks Box lines should not get carried away with their latest profit figures
RBS makes $3bn lending pledge to shipping No change to bank's underlying strategy as shipping boss says sector 'is a successful business for RBS'
Overcapacity is dead, says NOL's Widdows Recent spate of orders not enough as squeeze on ships predicted by 2013
Bank of America Merrill Lynch eyes box sector investments Successful sale of container lessor to private equity buyers is evidence of confidence in segment
Korea Line slapped with new US lawsuit Action comes as World Fuel Services increases existing claim
Offen warns of over-ordering dangers Claus Peter Offen urges caution as German owners struggle to raise finance from KG funds
KG funds hit by Korea Line's woes Demise has created wider problems for owners looking to place bulk carriers in the KG market
Malta ferries join Libya evacuation efforts Shipping agents in Malta rush to charter tonnage on behalf of foreign governments
Singamas boss warns box shortages will return in April Dearth of containers could reach into 2010 says S.S. Teo
CMA CGM posts record profit of $1.6bn Box line predicts return to normalised profitability levels in 2011
World Fuel Services profit beats Wall Street forecasts Posts net profit of $146.87m for 2010
Toll eyes growth despite challenging outlook Sees half year revenues jump 28% to $4.26bn
Horizon Lines stock in tatters after $45m price-fixing bombshell Chuck Raymond to depart as liner company seeks debt relief
Globus posts $6m profit in 2010 Dry bulk owner swings to profit from 2009 loss of $10.1m
Port of Tauranga posts 23% profit increase Results boosted by rise in trade volume and revenue from newly acquired company
MISC profit hits $783m Gain from listing of its marine engineering division helps propel group's profit
UK warship deployed on Libya duty HMS York sailing towards Eastern Mediterranean to aid evacuation
Rebels take Libyan port EASTERN Libya's key port of Brega and its oil terminal reportedly fell today to rebels fighting to oust Libyan leader Muammar Gaddafi
Brazil OKs huge yard BRAZIL has granted licences to two companies tied to EBX to build Latin America's largest shipyard at Acu's port in Rio de Janeiro state
US port security loss seen in cuts A PROPOSAL in Congress to slash $200M off the Homeland Security Department's budget could increase security risks at US ports, shipping officials warned today
Polish yard layoff scheme reported A THIRD of those working at Poland's Gryfia ship repair yard in Szczecin will reportedly be laid off under a newly implemented restructuring
Beluga denies majority shuffle GERMAN shipowner Beluga has denied a report that US investor Oaktree Capital Management is increasing its stake in the group to more than 50%
Dockwise profits halved DOCKWISE, the Dutch heavy-lift vessel operator listed in Oslo, reported profits in the final quarter of the year, against losses in the quarter a year earlier
Gunvor reports rises GUNVOR, the Geneva-based oil trader controlled by Russia's Gennady Timchenko, has said oil cargo volumes rose in 2010 to 104M tonnes, up 11% on 2009, while turnover jumped 22% to $65Bn
Claro leaves CSAV on a rising tide CSAV IS losing its president just as the Chilean box line unveiled record revenues and volumes for 2010
CMA CGM returns to profits CMA CGM today said it is looking to expand, after turning around 2009's big losses into record profits last year
Heat rises on US truck port bill A BILL introduced in California would place unions in control of independent intermodal box haulers at ports
Horizon guilty of price fixing JONES Act carrier Horizon Lines today agreed to pay a $45M criminal fine for fixing prices in the Puerto Rico box trade, while two of its top executives face potential prosecution
Vinashin-Lion deal reportedly revoked VIETNAM has reportedly decided to revoke a $9.8Bn licence for a steel project involving its shipbuilder Vinashin and Malaysia's Lion
Repsol profits nearly triple SPAIN'S Repsol today said its net profits almost tripled last year from 2009, largely because of the sale of its stake in a Brazilian affiliate to China's Sinopec
MISC unveils 724% jump in quarter profits MALAYSIA'S flagship carrier MISC has announced gross profits of 1.58Bn ringgit ($517.4M) for the three months ended 31 December
Seoul charges pirate suspects SOUTH Korean prosecutors have reportedly charged five pirate suspects with attempted murder in the hijacking of a ship in January
Three Carriers Start New Asia-Brazil Loop CSAV, CMA CGM and China Shipping Container Lines will pool vessels in a new service starting in April between Asia...
Forwarding Rebound Gives Geodis $48 Million Profit French logistics operator Geodis turned a $48.3 million operating profit in 2010, recovering from a loss the year before on...
CP Signs Performance Agreement with Port of Montreal Canadian Pacific and the Montreal Port Authority on Friday signed a collaborative agreement that sets standards for performance and productivity...
LaHood Gives Florida Another Week on Rail Plan Transportation Secretary Ray LaHood said he is giving Florida Gov. Rick Scott more time to consider a new plan to...
Ports Join Business Environmental Group Port authorities in Virginia, South Carolina and Georgia are joining the Coalition for Responsible Transportation, giving the group representing business...
Port Association Warns of Risk from Security Budget Cuts Proposed cuts in the port security grant program this year could leave some port areas at risk, said the American...
IANA's Casey On Intermodal's Value in Freight Moves (Video) Joni Casey, president and CEO of the Intermodal Association of North America (IANA), says that traffic benefits from an exemption...
Truckers Call on Obama to Tap Offshore Oil The American Trucking Associations urged the White House to tap domestic energy sources, such as offshore oil deposits, as rising...
Pisani & Roll's Michael Roll (Video) Michael Roll, a partner in the law firm Pisani & Roll who specializes in global trade and customs law, discusses...
Dockwise Revenue, Earnings Fall in 2010 Dockwise reported lower revenue and earnings for 2010 but forecast a rebound in 2011 as higher crude prices boost demand...
GDP Growth Slowed to 2.8 Percent in Fourth Quarter U.S. economic growth slowed to an annual rate of 2.8 percent in last year's fourth quarter, largely because of reduced...
USPS Seeks Parcel Pricing Freedom The U.S. Postal Service is seeking freedom to price its parcel services outside existing rate regulation, saying it needs the...
Obama Taps BNSF's Rose, Shippers for Jobs Council President Obama this week named BNSF Railways' Chairman and CEO Matthew K. Rose to his Council on Jobs and Competitiveness,...
Fla. Governor Again Rejects High-Speed Rail Project For the second time, Florida Gov. Rick Scott rejected plans to build the nation's first truly high-speed passenger rail line,...
Shifting Tides It's fair to say at this point that South Carolina's objections to the Georgia Ports Authority's plan to deepen the...
Carmack's Broken Model? Q: Isn't it time to scrap the antediluvian Carmack regime of motor and rail carrier liability for cargo and replace...
Finding the 'What-If' Questions Supply chain risks can be categorized into five groups: operational, social, natural, economy and political/legal, according to Patthira Siriwan, senior...
Finding The Supply Chain's'Known 'Unknowns Recessions, floods, strikes, export restrictions, quality control, commodity shortages and product complexity ' supply chain risk comes in all shapes...
Two Markets Anyone hoping this would be a year of clarity in shipping demand must be sorely disappointed by initial reports from...
Equity Groups Buy Container Lessor Triton Two private equity groups have acquired a controlling interest in the world's largest owner-lessor of marine containers Triton Container International. ...
Paranagua Receives Largest Ship Call The TCP Paranagua Container Terminal received a call this week by the Maipo, the largest vessel ever to call at...
Merged BA-Iberia Boosts Cargo Revenue International Consolidated Airlines Group, formed from the merger of British Airways and Spain's Iberia, boosted cargo revenue more than 28...
Alleged Terrorist Caught Using Domestic Truck Shipments U.S. authorities say a Saudi national arrested in Texas for allegedly plotting terror attacks was caught shipping explosive chemicals through...
CMA CGM Swings to Profit CMA CGM swung to a net profit of $1.63 billion in 2010, from a year earlier loss of $1.4 billion,...
Grand Alliance drops Shekou on Asia/Europe link Grand Alliance carriers Hapag-Lloyd, OOCL and NYK Line are omitting a call at Shekou on their Loop B service between the Pacific Northwest, Asia and Europe, according to American Shipper affiliate ComPair Data. The service already called South Chin...
Yildirim: Offered Hapag-Lloyd stake first The head of the Turkish conglomerate that''s taken a stake in French shipping line CMA CGM said Thursday the company had been offered a stake in German container line Hapag-Lloyd, according to a report by the maritime news outletTradewinds.Yildirim...
CMA CGM nets $1.3 billion in 2010 French liner carrier CMA CGM had operating profits of $2.5 billion in 2010 after losing $667 million in 2009, according to a financial update the line issued Friday. The privately held carrier issues details about its financial position annually, ...
Container lessors buying more boxes Container leasing companies say they expect another good year in 2011, expecting container-shipping companies to rely more heavily on them for equipment. Textainer, which said it is the world's-largest lessor of intermodal containers based on fle...
Horizon to pay $45 million fine, Raymond retiring The U.S. Justice Department said Horizon Lines LLC has agreed to plead guilty and to pay a $45 million criminal fine for its role in a conspiracy to fix prices for shipping freight between the continental United States and Puerto Rico. Horizon als...
NYK hikes transatlantic rates NYK Line said this week it will raise transatlantic rates from April 1. The increases will be $200 per 20-foot container and $300 per 40-foot container for dry or reefer shipments in both directions....
Maersk drops New York, Japan calls on TP loop Maersk Line has amended the rotation of its TP7 transpacific service by dropping calls in New York and Japan, according to American Shipper affiliate ComPair Data. The revised rotation, as of Feb. 28, will be Kaohsiung, Yantian, Hong Kong, Shanghai...
Rates going up NYK hikes transatlantic ratesNYK Line said this week it will raise transatlantic rates from April 1. Maersk raises Asia/Latin America ratesMaersk Line said it will raise rates on shipments from Asia to Central America and the Caribbean beginning Ap...
Strong growth in all markets CMA CGM nets $1.3 billion in 2010French liner carrier CMA CGM had operating profits of $2.5 billion in 2010 after losing $667 million in 2009, according to a financial update the line issued Friday. Yildirim: Offered Hapag-Lloyd stake first...
South Korea enters green support business South Korea has decided to follow in Finland's footsteps and introduces a USD 267 million support for greener ships to the county's ship yards. Two thirds of the money will
Blue Star Line' largest unit in service Blue Star Line A/S', Fåborg, largest vessel now has entered into service. The anchorhandler Blue Alfa, which was purchased from the Italian operator Augustea Offshore, has been refitted at
Bunker prices uncertain as week ends Crude futures head higher, markets focused on situation on Libya.
Matson hikes fuel surcharge to 35% The changes will take effect March 27.
OOCL increases bunker surcharges According to OOCL, the changes reflect the "increased fuel prices."
Whitaker Tankers install maintenance system on new barge The MPM system issues lists of maintenance due on a particular vessel, giving user a choice of how far to look ahead when including maintenance in the list.
Seaspan in negotiations for fuel-efficient vessels Gerry Wang calls on shipyards and naval architects to develop new container ship designs that improve operating efficiency.
KPI Bridge Oil appoints bunker trader for London office Nektheden has more than 4 years experience in the industry.
IFO prices fall in Fujairah Huge jump in Cape Town prices where supply is reported to be tight.
Bunker prices retreat in Rotterdam and Hamburg Buyers seen holding out for lower prices in northern Europe.
Clean fuel demand set to boost storage activity Consulting firm says there is a 'growing deficit' in middle distillates required for ECA operations.
Major oil trader sees benefit from volatile markets Margins narrowed in 2010, expecting more price volatility and better margins in 2011.
Week ends with bunker prices largely down at key ports Supplies not an issue at major ports in Asia.
Wilhelmsen to provide bunkering support to Australian gas project To handle coordination of ships services including bunkering for the dredging crew's accommodation vessel the MS Finnmarken.
Singapore fuel oil stocks at 8-week high Arbitrage volumes from the West in March expected to be heavy at 3.5-3.6 million mt.
Spill from grounded vessel smaller than initially feared Grounded ship involved in Norwegian bunker spill 'secured', says NCA.
Colombo sees IFO supply squeeze on cargo delays Lanka IOC and Lanka Maritime Services offering only limited quantities this week.
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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