PE funds, bonds seen driving shipping finance Global shipping firms must look to private equity funds and corporate bond markets to obtain capital to expand their operations as traditional bank financing dries up in the West, industry executives said yesterday.
Increased iron ore supplies won't help shipowner losses Shipowners may face losses until 2015 even with mining companies poised to increase global iron ore supplies by almost as much as China imports in a year.
Strait Talk
Strange and difficult times OVER-ORDERING of ships of almost all types has trashed freight rates and put the future of a significant number of owners in jeopardy, as well as raising the spectre of a return to large-scale lay-ups. Paradoxically, it appears to have also stimulated more ordering.
PE funds, bonds seen driving shipping finance Global shipping firms must look to private equity funds and corporate bond markets to obtain capital to expand their operations as traditional bank financing dries up in the West, industry executives said yesterday.
Increased iron ore supplies won't help shipowner losses Shipowners may face losses until 2015 even with mining companies poised to increase global iron ore supplies by almost as much as China imports in a year.
Strait Talk
Strange and difficult times OVER-ORDERING of ships of almost all types has trashed freight rates and put the future of a significant number of owners in jeopardy, as well as raising the spectre of a return to large-scale lay-ups. Paradoxically, it appears to have also stimulated more ordering.
Six lanes for Indian highway in Rajasthan and Gujarat The Indian cabinet committee on infrastructure has approved a project to develop six lanes on the Kishangarh-Udaipur-Ahmedabad section of the national highway in Rajasthan and Guja...
4,500th Evolution series locomotive delivered GE Transportation, a leading US maker of rail and transportation products, announced that its 4,500th Evolution series locomotive has entered service. The Evolution series represen...
TransContainer increases business volume For the first half of 2011, TransContainer's IAS-based earnings increased by 39% on the same period of 2010 and came in at RUB 13.8 billion (about EUR 318 million). The positive tr...
Leyland Trucks celebrates 100,000th DAF LF Leyland Trucks, one of Britain's leading manufacturers, recently celebrated the production of its 100,000th DAF LF truck. The vehicle range is a premium lightweight truck ser...
Saudi Airlines Cargo to establish Europe-USA connection Saudi Airlines Cargo, the leading cargo carrier of Saudi Arabia, is expanding its main deck capacity to the USA out of Europe. The airline offers three B747 freighter flights per w...
Indonesia safety and infrastructure challenges Addressing issues in Indonesia was a priority for Tony Tyler during his first visit to Asia as the International Air Transport Association's (Iata) DG and CEO last week. While in J...
Boeing delivers first Dreamliner After yesterday's delivery celebrations at Boeing's Everett production site, launch customer All Nippon Airways (ANA) will proceed to the fly-away of the first commercial B787 Drea...
Ore carrier "Frontier Lodestar" delivered The "Frontier Lodestar", a new 180,000 dwt ore carrier built by Koyo Dockyard (Mihara city, Hiroshima prefecture), a member of the Imabari Shipbuilding Group, was deliver...
Building freeze for Weser deepening? The Lower Saxon and Bremen state branches of the Bund für Umwelt und Naturschutz Deutschland, a German association for the protection of the environment, have filed a lawsuit in a ...
Globe Express Services adds industry veterans in LA, Pacific Globe Express Services, a top 20 global logistics provider in the transpacific trade, is expanding its sales and operations team for the US Pacific region. Based in Globe's Torranc...
Duvenbeck expands in Hungary Duvenbeck, a logistics and transport group located in Bocholt (Germany), has established a logistics centre in Hungary's Kecskemét in the direct neighbourhood of a planned Daimler ...
Norway Post acquires Swedish logistics provider Intertranspedia Norway Post has strengthened its presence in neighbouring Sweden with the acquisition of a logistics business that will boost its cross-border transport between the Nordic countrie...
Ceva Logistics renews contract with Isuzu in Thailand Logistics and SCM specialist Ceva Logistics has renewed its partnership with Tri Petch Isuzu Sales for a further three years. Ceva's specialist vehicle logistics team will continue...
Container exports hit record high in Barcelona Between the months of January and August the port of Barcelona handled 1.4 million teu, a 13% increase on the same period of the previous year. The container exports rise is especi...
Shape up or ship out How cabotage regulations are changing the Indonesian maritime sector, but is it realistic?
Rousing start to Houston insurance seminar Sterling speeches from US contingent, but London participants were less keen to make a stand
Government's duty to protect seafarers Dutch report into piracy finds too many legal issues arising from hiring of private guards
When will investors see an opportunity? Getting fresh money from anywhere looks tough right now but that could change
Interest in gas picks up steam in North America Traditionally lower prices on the Henry Hub coupled with the introduction of emission rules in the next 10 years make LNG power attractive
Wallenius wants $600 differential between LNG and diesel oil Lower price for gas would be required to cover higher equipment costs, cut in cargo space and reduction in operational range
LNG powered shipping is catching on A two-part look at the growing interest in using natural gas as a marine fuel
Marco Polo withdraws contempt of court charge against Credit Agricole Lender agrees to pay debtors daily rate for privilege of keeping tanker under arrest
Boxship fleet growth slows as economy clouds outlook RS Platou Markets says August fleet statistics show growth at a 14-month low of 8.4%
Atlantic-Asia panamax bulk carrier rates hit three-month high Round voyage rates in overtonnaged Pacific market remain at four-week low
Traders baffled as price of low-sulphur fuel nosedives High/low-sulphur spread down to 2009 levels
Falling bunker prices fail to lift VLCC earnings Daily returns on Middle East to Asia route remain in negative territory despite $30 per tonne fall in fuel costs over the week
Cross-Mediteranean aframax earnings still poor despite fixture surge Overcapacity caps any possibility of improved rates
Non-operating boxship owners best stocks to invest in, says RS Platou Asset play and secured income from chartering contracts makes Greek companies a particularly attractive option
Brussels still a few elements short of a full toolbox, says new Ecsa chief Exclusive interview with new European shipowners association president Juan Riva
Banks are 'prolonging the bad times' by propping up weak owners Tanker pool chief says secondhand prices kept too high and healthy operators disadvantaged
Marine insurance 'volatile sector' with Solvency II Swiss Re says industry will be forced to carry a higher amount of capital
Lines have no success in hiking Asia-Europe rates Research group subtracts bunker surcharges and finds actual conditions worse than 2009
FSL confident on refinancing Shipping trust expects to confirm refinancing in October along with third-quarter results
Bumi Armada may tap bond market Malaysian offshore player says FPSO earnings would ensure a good rating
Former MCA chief condemns UK government's Coastguard rethink Latest communications technology could save costs while bringing service up to date, says Stephen Bligh
Maersk readies fall-back plan B, and C Kolding still looking for the 'iPad' of box shipping, but immediate concerns could see tonnage reduction
Australian confidence wobbles on LNG project start dates Getting gas projects onstream an enormous task, says country's resource manager
Cadiz box terminal project secures $81m loan European Investment Bank cash will fund first phase of construction
STX Finland wins Tui order Turku shipyard to build new German cruise vessel
Swedish officers' unions merge Alliance comes as number of Sweden's officers on board the country's remaining flagged vessels has fallen
London's lost business If shipowners are not attracted to London for a listing, who knows what other business could be lost
Less stick, more carrot It is a good sign that the EU is showing some flexibility toward struggling owners over low-sulphur fuels
IEA backtracks on 'golden age of gas' forecast Beyond 2015 market faces 'great uncertainty' due to project delays and rising gas prices
Baltic ports to get $34m of EU funding towards 'hub and spokes' project Network of hubs with system of feeder ports to support door-to-door growth in region
Crunch time for Horizon HORIZON Lines has until the end of this week to complete an exchange offer for its convertible bonds, a timetable that could hinge on SEC approval
Tanker scrappings on the rise THE number of ships sold for scrap rose sharply, to 19 in the week to 23 September, from a weekly average of 12 or 13 during the previous month, according to Athens-based shipbroker WeberSeas
ECSA: low-sulphur deadline impossible EUROPEAN shipowners today said that the IMO's 2015 deadline for applying a 0.1% sulphur limit in Europe's emission control areas "cannot be met"
Chavez nationalises Conferry VENEZUELAN President Hugo Chavez yesterday ordered the nationalisation of ferry operator Conferry, his latest takeover in the maritime sector
Typhoon brings death in Manila EIGHT people were killed in the Philippines yesterday as Typhoon Nesat battered the island of Luzon, leaving thousands of ferry passengers stranded in ports, ships grounded and fishermen missing
China's growth underpins intra-Asia LEADING economists said today that the Asian growth story will continue even as the region battles inflation
Brand-new VLCCS are idle BW Maritime is idling new VLCCs despite facing heavy loan repayments on vessels ordered during the market high in 2006 - testament to dismal market conditions
Gard's first-half profits drop NORWEGIAN P&I club Gard has reported a sharp fall in profit for 1HFY11 due to higher claims and a volatile situation on the investment markets
DVB Bank highlights offshore sector DVB BANK anticipates investing more in the offshore support sector over the next year, a senior executive has revealed to Fairplay
Beluga Family arrested in Bremen GERMAN ship financier Bremer Landesbank has arrested former project carrier Beluga Chartering's 12,782dwt multipurpose vessel Beluga Family in the port of Bremen, the local district court said yesterday
K Line bulks up Indian presence K LINE has launched post-fixture bulk carrier operations from India, as part of its strategy to be closer to Indian customers, the company told Fairplay today
Chevron confims Wheatsone LNG project FIRST shipments from Chevron's Wheatstone LNG project off Western Australia are expected to start in 2016 after the company today gave the scheme final approval
Truck Tonnage Index Points to Higher Demand The month-to-month decline in for-hire truck tonnage slowed in August, and tonnage levels rose more strongly from a year ago...
US Container Imports Fell 1.5 Percent in August U.S. containerized imports last month fell 1.5 percent from a year earlier, dragged down by lower shipments of home goods,...
Report Says BNSF Terminal Will Reduce Truck Traffic BNSF Railway's proposed $500 million near-dock intermodal terminal in Los Angeles-Long Beach will take up up to 1.5 million trucks...
Lawmakers Seek End to Trucking HOS Rewrite Republican leaders of the House Transportation and Infrastructure Committee, in a sharply worded letter to President Obama, are asking the...
NAFTA Trade Grows 18.1 Percent in July The value of cross-border surface trade between the U.S., Canada and Mexico rose 18.1 percent year-over-year in July, the Transportation...
Report Says 2010 Road Congestion Cost $101 Billion Urban road congestion made U.S. drivers buy 1.9 billion gallons of extra fuel last year and pay an extra $101...
Customs to Launch Simplified Cargo Entry Project Customs and Border Protection officials said Monday it will launch a "simplified entry" pilot project, the first step in a...
Flatbed Rates to Rise 6 Percent, Says Stifel Nicolaus Flatbed trucking rates are on track to rise 6 percent this year after rising 6 percent on average last year,...
Indian Navy Foil Attacks, Captures Pirates The Indian Navy captured pirates attempting to seize two foreign-flag cargo vessels in the Gulf of Aden, Navy officials said...
Trailer Shipments Up 14 Percent in August From July Shipments of commercial trailers reached heights in August not seen since 2007, but cancelled orders rose too, and the order...
Antwerp to Speed Up Animal Product Inspection The Port of Antwerp said on Tuesday it will speed up imports of products made from animals by centralizing their...
Plan For $1.5 Billion Indian Terminal Back on Track Plans to build a $1.5 billion container terminal at the Port of Jawaharlal Nehru (Nhava Sheva) got back on track...
Kimberly-Clark Settles Horizon Lines Claims Horizon Lines, moving to complete a $655 million refinancing this week, said Kimberly-Clark had agreed to drop antitrust claims resulting...
Alphaliner Expects Trans-Pacific Loss of $300 Million Ocean container carriers will lose more than $300 million on trans-Pacific services in 2011 due to falling freight rates and...
Wallenius Wilhelmsen adds ship Wallenius Wilhelmsen Logistics (WWL) has added the new ship,Parsifal , to its fleet.A sister ship toTonsberg , delivered in March, the 265-meter-long ship has a cargo volume of 138,000 cubic meters. Six fixed and three moveable decks mean the entir...
U.S. treasury secretary visits UPS hub Geithner U.S. Treasury Secretary Tim Geithner visited UPS's WorldPort hub in Louisville, Ky., as part of the Obama administration's campaign to generate public support for its $447 billion American Jobs Act. "One of the most important parts of the p...
ATS, WFS handle China Cargo in St. Louis Airport Terminal Services (ATS), in partnership with Worldwide Flight Services (WFS), has won the ground and cargo warehouse handling contract for China Cargo Airlines' launch of direct cargo services between St. Louis International Airport and Sha...
Northeastern taps Flynn for homeland security institute Flynn Renowned homeland security expert Stephen Flynn is giving up the presidency of the Center for National Policy in Washington to be the founding co-director of the George J. Kostas Research Institute for Homeland Security at Northeastern Univer...
APL Logistics helps EMD in India APL Logistics said it has opened a 50,000-square-foot production and warehousing facility for Electro-Motive Diesel Inc., a global manufacturer of locomotives, in Gurgaon, India. The logistics arm of ocean carrier APL is extending its existing relat...
ILWU president charged after protest The International Longshore and Warehouse Union said its president, Robert McEllrath, on Monday surrendered to law enforcement officials in Kelso, Wash. He faces charges resulting from a Sept. 6 port protest.The union said McEllrath was specificall...
N.C. maritime study input sought North Carolina has scheduled two public meetings this week and next as part of its effort to develop a maritime strategy for the state. The study was initiated this spring by Gov. Bev Perdue's LogisticsTask Force, and is designed to "take a fresh lo...
9th Circuit: LA port can't ban owner-operators 9th Circuit: LA port can't ban owner-operators 9th Circuit: LA port can't ban owner-operators The 9th Court of Appeals ruled Monday that the Port of Los Angeles can't bar truck owner-operators from the port. The port's 2008 clean truck program re...
Savannah boosts reefer capacity The Georgia Ports Authority said on Monday its board approved a $4.75 million project that will expand the Port of Savannah's capacity to store refrigerated containers by 45 percent to 1,536 containers.New reefer racks will be added to the Garden ...
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