VLCC earnings fall as glut of available ships grows Earnings for the largest tankers hauling two million-barrel cargoes of Persian Gulf oil to Asia fell for a third day as a glut of available ships expanded.
Vale iron-ore ship built in Korea is smaller than first planned A commodity ship built for Vale SA, the world's largest iron-ore producer, is smaller than planned when ordered, according to data from the company that constructed it and another monitoring its compliance with design and structural rules.
Alstom upgrades Turkish Railways with ETCS The Turkish state railway TCDD has awarded Alstom a EUR 89 million contract to supply signalling and telecommunications upgrades for the line west from Eskisehir to Kütahya and Bal...
Wagon lessor VTG remains on course VTG, a German wagon lessor and rail logistics company, has continued its positive performance of the first six months in Q3. The wagon letting unit posted sales of EUR 224 million ...
French road hauliers pessimistic about short-term future French road hauliers expect a severe and permanent drop in business for the coming six months, a survey carried out by the consultancy bp2r has reported. 54% of the 172 transport c...
Barton highway opens to traffic in Australia The Barton highway in NSW Australia is now safer, following the completion of major improvements along a section that previously witnessed many accidents. In 13 months, a 4.4 km st...
New country manager at Quehenberger Bulgaria Vencislav Kirov has been new country manager at Quehenberger Logistics in Bulgaria since October. He oversees national expansion as well as day-to-day operation of all forwarding a...
New all-cargo services from Singapore combat cargo stagnation Singapore Changi airport handled 163,100 t of cargo in October, an increase of 0.4% year-on-year. While overall cargo volumes remained relatively unchanged compared to a year ago, ...
Tiruchirapalli airport opens international cargo terminal A new 4,000 sqm international cargo terminal at Tiruchirapalli airport in the southern Indian state of Tamil Nadu has been officially commissioned. In the absence of direct flights...
TAAG allowed to return to Europe The European Commission has updated its list of airlines banned in the EU. Close cooperation with the aviation authorities of Albania and Russia has led to strong new measures to c...
SCI to sell vessels to boost performance The state-owned Shipping Corporation of India SCI has announced that it plans to sell as many as 13 of its oldest vessels to improve its performance. SCI made a loss of more than U...
First sailing of Fesco's Tacoma-Vladivostok link The first sailing of Fesco Russian Pacific Line's new direct fortnightly all water ro-ro service to Vladivostok and all important points in the Russian Far East departed from the p...
TPC Switzerland wins Swiss Logistics Public Award 2011 TPC Switzerland was awarded the most significant logistics award in Switzerland recently, when GS1 Schweiz, a national non-profit trade organisation, presented the Swiss Logistics ...
Rieck subsidiary moves in with Garbe in Hamburg The Hamburg-based German logistics property developer Garbe Logistic has let 19,000 sqm of warehouse and office space to the Berlin-based Rieck Logistik Group. The subsidiary Rieck...
GL points the way to a greener future Germanischer Lloyd uses annual dinner in London as a platform to spotlight economic and environmental challenges
Euro debt crisis could squeeze out ship lenders Severe lending restrictions likely to persist for several years as bank lending in general, including to shipping, is set to become more scarce
Ship lenders hold steady Survey of leading bankers indicates more banks are cutting their shipping exposure than are increasing it
Norwegian Dream cancellation hits Louis nine-month results Cyprus-based operator posts $6.4m loss after agreeing settlement with NCL over cancelled ship purchase
Maersk Icon move will reduce Asia-Europe overcapacity Smaller box lines may follow suit
EXCLUSIVE: Libya's GNMTC mulls tanker expansion Libyan owner's closer ties with national oil company set to help fleet growth
FLEX LNG delays final investment decision on Papua New Guinea deal Floating liquefaction venture aims for 2015 start date
German law firm sets up shop in London Ehlermann Rindfleisch Gadow recruits prominent UK lawyer Richard Henderson as it starts building an English team
Beyond the call of duty People get awards for all sorts of things these days, but none are more deserving of the IMO Award for Exceptional Bravery at Sea than the master of the Samho Jewelry
Class wars: Are they designers or innovators? Revenue from traditional class business is simply insufficient in today's market
SNCF to test longer trains Radical rethink being sought on hinterland connections as boxships get bigger
Box rates keep falling Two major Asia export trade lanes see further price erosion
Tsakos considers ordering new LNG carrier High liquefied natural gas shipping rates continue to lure owners to the shipyards
HSH Nordbank posts $298m loss Bank blames burden of special payment to main shareholders
Brussels warns four countries on shipping safety rules Britain insists it is already compliant
Asia-Europe trades face further deterioration OOIL hacks 20% from Grand Alliance service, with Maersk to follow suit in 'rationalisation' of its Icon service
Los Angeles to join scheme that promotes greener ships Top US container gateway to participate in Environmental Ship Index Programme starting next year
French government blasts UK Channel tug withdrawal Representations made to Department for Transport
Eurotunnel sees fresh opportunities as wagons approved Channel Tunnel operator eyes the unaccompanied trailer sector
Vale makes third backtrack in a year Shapeshifting is not Vale's first U-turn
DuPont denies link to reefer box explosions Company says refrigerant product R-134a has been subject of counterfeiting
Capesize market still buoyant Fall in paper values in contrast to current physical market may indicate concern over high rate of deliveries in the new year
Slim fast Economic efficiency alone suggests that VLOCs are the way to go
A radical rethink Without an unlikely rebound in early 2012, a major shake-out in the liner sector seems increasingly inevitable
Vale's giant ore carriers go on a diet Vale China slims down by 20,000 dwt along with remaining VLOC order at Rongsheng Heavy Industries
S&P maintains credit rating on MISC Still BBB+ despite pull-out from box business
Ophir Energy stakes claim as early explorer Lakshmi Mittal-backed listed offshore operator to invest in 3-D seismic and exploration drilling offshore Africa
ITF wants 7.5% wage hike THE ITF has proposed an ambitious 7.5% hike in the benchmark for seafarer's wages over the next three years
Damen builds two PSVs NETHERLANDS shipyard Damen has defied a global order slump, winning contracts for two offshore service vessels
Greece rules out shipping tax GREECE'S new shipping chief has outlined his strategy for the growth of the Greek-flagged fleet, ruling out any future tax on shipowners
MISC shares slump on box line cut SHARES in Malaysia's MISC dropped on the Kuala Lumpur exchange today, after the company announced the closure of its struggling box shipping business
Bumper harvest lifts Russian ports RUSSIAN ports are set to benefit from new season grain harvests and exports above earlier estimates
EC's Atlantic offshore plan THE EUROPEAN Commission today announced it expects offshore energy projects to drive growth in the EU's Atlantic Ocean area over the next eight years
NOL to weather economic storm? BANK analysts expect Singapore's NOL will scrape through a further downturn in container shipping but have warned against buying the company's stock
Dangerous Rena boxes uncovered NEW ZEALAND authorities are today investigating why the owners of Rena failed to declare an extra 21 containers of dangerous goods on board the ship
Indian ships look to Singapore HIGH taxes on Indian-flagged ships are driving some of its shipping companies to maritime tax havens, a Singapore conference has heard
Strikes end at Tanger Med EUROGATE TANGER told Fairplay today it's hoping to recover lost revenues at its Morroccan container terminal after several weeks of disruptive industrial disputes
More Abbot Point terminals mulled AUSTRALIA'S North Queensland Bulk Port Corp is reportedly considering adding an extra two terminals to its expansion plan for Abbot Point coal port
Canada hopes to triple export crude Canada's net crude oil available for export will more than triple by 2035, according to a report by the country's National Energy Board
Kremlin in port fight THE KREMLIN is reportedly in a shareholder battle for control of Vanino port, after refusing to accept the appointment of a new chief executive
MISC to Withdraw From Liner Shipping MISC Berhad, showing strong frustration at the tough fundamentals in global container shipping markets, is withdrawing from the container business...
Zim Slumps to $66 Million Loss Israel's Zim Integrated Shipping Services slumped to a $66 million net loss in the third quarter and the carrier braced...
Japanese Firm Acquires Brazil Grain Terminal Operator Major Japanese trading house Marubeni said on Friday Brazilian grain export terminal operator Terlogs Terminal Maritimo is now a wholly...
Maersk Merging ICON Into Daily Service Maersk Line says it will merge its ICON service linking the Far East and Indian sub-continent to Northern Europe into...
Chennai steps up despite congestion troubles The southern Indian port of Chennai saw its throughput increase by about 10% this year to date, compared with the last year, despite chronic congestion and other ...
India opens its market place to global retailers The Indian government will open the country's retail industry to foreign supermarkets, such as Tesco and Wal-Mart - a 1.2 billion peopled- market that is estimated ...
Egyptians protest after Friday Prayers Tens of thousands of people have remained in Cairo's Tahrir Square, following Friday Prayers, to demand that the interim military government steps down before the ...
CSAV sinks further into the red CSAV continued its downward financial spiral in Q3 11, recording a net loss of USD340,326, compared to a net loss of USD332,778 in the previous quarter, and a profit ...
INTTRA's new benchmarking software meets with industry approval US-headquartered INTTRA's new OceanMetrics programme - whereby carrier and shipper performance can be measured and benchmarked in areas of booking and on-time performance ...
Eimskip making money Icelandic shipping and logistics group Eimskip, has announced a net profit of EUR12.5 (USD16.7) million for the first nine-months of the year, in which it said ...
Hamburg takes another step towards dredging In what appears a bizarre process of communication, Hamburg's Port Authority (HPA) says it has been informally informed by local communities bordering on the banks ...
Rena: 21 DG boxes 'not declared' by MSC
Carriers coin it on North America/ANZ tradelane Ocean carriers are still smiling in the tradelane between Australia/New Zealand (ANZ) and North America. According to a report just published by BoxTradeIntelligence ...
US Markets slow on Black Friday Crude futures settled higher on Black Friday.
BC Ferries ups bunker fuel surcharge Company said it expects fuel costs will reach more than $120 million in the 2011-2012 fiscal year.
Arctic shipping season sets 'new record' Russian firm says navigational period in 2011 was the longest ever.
Major regional markets show moderate price moves Suez stable after ups and downs earlier in the week.
Markets slow in Rotterdam, Hamburg Piraeus player reports a lot of small volume prompt enquiries.
Banks alarmed as shipping crisis accelerates 'Disastrous development' in tanker sector with dark clouds hanging over container and drybulk sectors as well.
Dredging firm highlights benefits of bio lubricants Jan de Nul says using bio greases has not compromised performance, while reducing the company's environmental impact.
IFO prices largely firming at Asia bunker hubs as week closes Mixed demand at major Asian ports on Friday.
EC takes action against Italy over VAT exemption for ships Italy VAT exemptions to ships not in line with directive, says EC.
Sinopec Zhousan supplying bunkers direct from Qingdao Estimates to sell 5,000-10,000 mt of 380 cSt bunker fuel a month at Qingdao port.
Bakri Trading changes location in Singapore New address with effect from November 25 onwards, says company.
Chimbusco moves to new Beijing head office Updates company contacts and issues role for head office and PIC at ports.
Bunkering operations unaffected by fire at Dalian port Fire results in two 100,000 mt oil storage tanks up in flames.
380 cSt avails tighten in Tokyo Bay Most local refiners 'nearly sold out' November volumes, say local players.
Australia raises oil spill penalties to $11 million New laws follows a review of maritime offences, including the fuel spill from Shen Neng 1 in April last year.
Bunkering to come under discussion at COP17 Side event will examine progress made on reducing greenhouse gas emissions from shipping.
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