MISC to sell 16 container vessels MISC Bhd, South-east Asia's largest shipping line by market value, intends to sell its 16 owned container vessels within about six months as it exits unprofitable cargo- box operations.
Chemical tankers to boost profits for firms Vessels hauling chemicals used to make everything from paint to plastics may earn the most in four years in 2012 as volumes exceed fleet capacity, boosting profit for tanker owners Stolt-Nielsen Ltd and Odfjell SE.
Strait Talk
Recognising bravery at sea LAST week, IMO secretary- general Efthimios Mitropoulos presented Seog Hae-gyun, master of the chemical tanker Samho Jewelry, the International Maritime Organization (IMO) Award for Exceptional Bravery at Sea 2011.
Shipping Times
Canadian Pacific Railway plans US$500m bond sale Canadian Pacific Railway Ltd, which has the highest operating expenses versus sales among large North American railroads, plans a US$500 million debt offering to support its underfunded pension plan.
Bombardier wins Indian rail contract Bombardier Inc's train unit received a contract to make railway equipment for India's Mumbai Railway Vikas Corp (MRVC). The project, funded equally by the World Bank and the government of India, is valued at about 11.2 billion Indian rupees (S$281 million).
MISC to sell 16 container vessels MISC Bhd, South-east Asia's largest shipping line by market value, intends to sell its 16 owned container vessels within about six months as it exits unprofitable cargo- box operations.
Chemical tankers to boost profits for firms Vessels hauling chemicals used to make everything from paint to plastics may earn the most in four years in 2012 as volumes exceed fleet capacity, boosting profit for tanker owners Stolt-Nielsen Ltd and Odfjell SE.
Strait Talk
Recognising bravery at sea LAST week, IMO secretary- general Efthimios Mitropoulos presented Seog Hae-gyun, master of the chemical tanker Samho Jewelry, the International Maritime Organization (IMO) Award for Exceptional Bravery at Sea 2011.
Shipping Times
Canadian Pacific Railway plans US$500m bond sale Canadian Pacific Railway Ltd, which has the highest operating expenses versus sales among large North American railroads, plans a US$500 million debt offering to support its underfunded pension plan.
Bombardier wins Indian rail contract Bombardier Inc's train unit received a contract to make railway equipment for India's Mumbai Railway Vikas Corp (MRVC). The project, funded equally by the World Bank and the government of India, is valued at about 11.2 billion Indian rupees (S$281 million).
MISC to sell 16 container vessels MISC Bhd, South-east Asia's largest shipping line by market value, intends to sell its 16 owned container vessels within about six months as it exits unprofitable cargo- box operations.
Chemical tankers to boost profits for firms Vessels hauling chemicals used to make everything from paint to plastics may earn the most in four years in 2012 as volumes exceed fleet capacity, boosting profit for tanker owners Stolt-Nielsen Ltd and Odfjell SE.
Strait Talk
Recognising bravery at sea LAST week, IMO secretary- general Efthimios Mitropoulos presented Seog Hae-gyun, master of the chemical tanker Samho Jewelry, the International Maritime Organization (IMO) Award for Exceptional Bravery at Sea 2011.
Shipping Times
Canadian Pacific Railway plans US$500m bond sale Canadian Pacific Railway Ltd, which has the highest operating expenses versus sales among large North American railroads, plans a US$500 million debt offering to support its underfunded pension plan.
Bombardier wins Indian rail contract Bombardier Inc's train unit received a contract to make railway equipment for India's Mumbai Railway Vikas Corp (MRVC). The project, funded equally by the World Bank and the government of India, is valued at about 11.2 billion Indian rupees (S$281 million).
Uzbekistani client orders Implant Sciences explosives detectors The Implant Sciences Corporation, a Wilmington-based US high-tech supplier of security systems and sensors, has announced sales of its QS-H150 Quantum Sniffer handheld explosives t...
GLS Belgium attains environment certification GLS Belgium, a Belgian firm belonging to the pan-European parcels, express and logistics services provider General Logistics Systems (GLS), has obtained ISO 14001 certification for...
Chinese firm to upgrade Guyanese airport The China Harbor Engineering Company (CHEC) has secured a USD 138 million design and construction contract from the government of Guyana to expand a terminal and to lengthen a runw...
Chinese ports handle 7 billion t in ten months Chinese ports handled 7.54 billion t in the first ten months of 2011, according to the national transport ministry, representing an increase of almost 14%. The volume was split bet...
DHL Express signs Saudi Arabian deal with Nokia DHL Express has signed a three-year deal with the telecommunications giant Nokia Siemens Networks, to establish a nationwide distribution system in Saudi Arabia. The agreement will...
BIH railway lines to be electrified Railway lines are being electrified in the region of the industrial city of Tuzla in northeastern Bosnia-Herzegovina, an agreement having recently been signed between the rail comp...
K+N introduces direct services between Baltic states and Poland K+N has launched direct line hauls options between its hubs in Tallinn (Estonia), Riga (Latvia), Vilnius (Lithuania) and Poznan (Poland), in order to develop fast and frequent grou...
UGL and GE Transportation introduce loco in Australia UGL Limited and GE Transportation have introduced a new PowerHaul locomotive, the PH37ACmai, at the largest rail exhibition in the southern hemisphere, AusRail Plus 2011 in Brisban...
MAN Truck & Bus steps up commitment in India MAN Truck & Bus has agreed with its partner Force Motors to take over MAN Force Trucks, their Indian joint venture. The JV was founded in 2006 and produces heavy MAN trucks for...
CSAV considers selling container business The Valparaiso-based Chilean shipping line Compania Sud Americana de Vapores (CSAV) has reported a net loss of USD 343 million for the third quarter of the current financial year. ...
Aramex launches joint venture with Sinoair Aramex, a global logistics solutions provider, has formally launched a joint venture with Sinotrans Air Transportation Development Co (Sinoair), as part of the former's ongoing str...
Zurich airport expansion remains on the cards A referendum in the Swiss canton of Zurich has resulted in the third thumbs-up in favour of Zurich Kloten airport in four years, with the voters clearly rejecting an initiative and...
Marco Messner named first Austrian young forwarder of the year Marco Messner, who works for the Salzburg-based international freight forwarder Spedition Lagermax, has been named as the first-ever young freight forwarder of the year in Austria....
International Chamber in fresh drive to get support for IMO at Durban Preventing climate change 'a political challenge as much as a technical one'
How to assess accumulation Modern risk management requires a deeper understanding of interrelationships than in the past
First-half losses for ACM London shipbroker sees revenues weaken
No turkey for shipping stocks A week is a long time in politics and two weeks is an eternity in shipping, with the recent pain for US listed shipping companies looks set to continue
Governments move to regulate armed guards Licensing system expected by next year
'Payable in 30 days' does not mean six months' interest-free credit Can't pay, won't pay? They'll see you in court.
Mild weather and aframax glut dampen hopes of December rates rise Extra cargoes becoming available in European spot markets are absorbed easily
Tankers bound for Syria amid further outcry against violent crackdowns Vessel tracking shows latest tankers sailing to Syrian ports
Secondhand aframax values fall to eight-year low Five-year-old vessels sell at 2003 prices as daily earnings stay below operating costs
EXCLUSIVE: No legal action against Fred. Olsen over faked hours records MCA decides to use safety code provisions instead
South Korea on course for record steel production Exports to emerging markets boost shipping prospects
Canada plans crude exports from its oilsands Moves to export 5m barrels per day by 2035
IMO to consider guidelines to combat crime on ships Aim is better co-ordination with investigating authorities
South of England's demise leaves members struggling to find cover Pull-out causes problems for insurance market
Moody's downgrades Ship Finance International SFI caught up in concerns over Frontline's plans to restructure
Dole axes reefer service New blow for specialist carriers
EXCLUSIVE: UK to announce armed guards policy shortly Department for Transport rejects Labour charge of dragging its heels
Claims guidelines are not being used There is nothing to stop the market using the guidelines apart from underwriters themselves, says IMCC
P&I clubs' 5% general increase harmony is highly unusual Insurers' decisions may look equal, but some are more equal than others
Case of the shrinking valemax bulk carriers Vale has remarketed its super-sized ships as slightly smaller. How are we to decode this?
RMT confirms Wightlink strike ballot Union alleges activist unfairly dismissed
Under pressure Shipowners face a decade of environmental rules that will press them to spend what little money they have
Baltic Ports back shipowners in fight against low-sulphur rules Implementation timetable criticised
SeaFrance mediation bid unsuccessful Union fails to agree resumption of service with administrator
MISC to sell its 16 containerships in six months Plan to exit liner business will include early return or subleasing of chartered-in vessels
China to consolidate its shipyards Ten largest players to control 70% of the nation's shipbuilding under ministry plan
Höegh vehicle carrier joins UK October detentions list Five vessels held by port state control last month
HNA offers cold comfort to creditors Companies in pay dispute with Grand China Logistics urge its parent company to speak out
Finnlines wins appeal over 2008 dividend payout Pension company fails in court bid to force bigger payment
Cruise yields still lags CARNIVAL and Royal Caribbean have yet to regain their pre-crisis performance, and Europe will play a key role in their recovery pace, UBS analyst Robin Farley said today
Crowded breaking beaches predicted VESSELS aggregating 55M gt worldwide will be sent to breaking beaches in the next two years, a study reported today
Horizon settles PR claims HORIZON Lines confirmed today that it has settled all 'hold-out' civil claims related to its price-fixing in the Puerto Rico box trade from May 2002 to April 2008
Uni-Tankers buying IBEX DANISH shipowner Erria today said it had sold its Turkish tanker company and its nine ships to another Danish shipping group, Uni-Tankers
252 held in migrant smuggling AUTHORITIES are holding 252 people involved in migrant smuggling on commercial vessels over the past week in the eastern Mediterranean
Sachana yard ordered shut GUJARAT Maritime Board has been ordered to close immediately its three-decade-old Sachana shipbreaking yard
NewLead tanker arrested A PRODUCT tanker owned by US-listed NewLead Holdings remains under arrest in Maryland waters today following a dispute over unpaid wages
Drybulk weakness hurts TTA TTA TODAY blamed a downturn in drybulk shipping for the sharp drop in net profits for the financial year
Beijing approves floating LNG import facility BEIJING has approved CNOOC's plan to build China's first floating LNG receiving and storage facility off the northern city of Tianjin, IHS World Markets Energy reported today
Slovenian port's profits triple SLOVENIA'S Luka Koper today revealed profits to September that were three times greater than during last year's period, but the company still fell short of expectations
China builders aim high CHINA'S industry boss assured a Shanghai forum today that its shipbuilding sector seeks high-tech leadership as much as market share
Impairment losses put ACM in the red TANKER and drybulk broker ACM Shipping today reported a $11M drop in half-yearly profits
France to oppose EC's sulphur curbs FRANCE gave notice today that it plans to oppose the EC's planned curbs on sulphur emissions
Man charged over Port Botany drug cache A MAN has been charged after 216kg of drugs was discovered at Sydney's Port Botany, police said today
FESCO secures loan FESCO has secured a $100M loan from the European Bank for Reconstruction & Development
Shippers Urge Congress to Block Railroad Strike Shipper groups are pressing Congress to step in to avert a potential nationwide strike next week, with one warning the disruption of...
NAFTA Surface Trade Up 13.8 Percent in September The value of trade using surface transportation between the U.S. and Canada and Mexico rose 13.8 percent in September from...
CSAV Loses $340.3 Million, Denies Sales Plan CSAV posted a net loss of $340.3 million in the third quarter, reversing a $151.8 million profit a year earlier,...
Retail Sales Boom Feeds Restocking Hopes Retail sales grew at a double-digit pace over the Thanksgiving Day weekend, launching the holiday sales season with raised hopes...
Former SC Johnson Transport Director Sentenced in Fraud Case A federal judge sentenced the former transportation director for SC Johnson to eight years in jail this month for his...
Horizon Settles Shippers' Antitrust Claims Horizon Lines has agreed to pay $13.75 million to settle claims by all remaining significant shippers who opted out of...
Three Carriers Hike Asia-Europe-Mediterranean Rates Three major container carriers are imposing peakseason surcharges on westbound shipments from Asia to Europe and the Mediterranean, effective in...
Greece Set to OK Armed Guards to Fight Piracy Greece is preparing legislation to allow its merchant ships to hire armed guards to combat pirate attacks. The draft...
Fesco Gets $135 Million to Upgrade Russian Port Fesco, owner of Russia's largest ocean carrier, has secured a $135 million loan from the European Bank for Reconstruction and...
American Airlines Files for Bankruptcy Protection The parent of American Airlines, the nation's third-largest airline, filed for Chapter 11 bankruptcy protection on Tuesday and began an...
Le Havre to Open Container Terminal in Early 2012 Le Havre will open a $215 million container terminal in early 2012 that will allow France's biggest box port to...
A week is a long time in politics, and container liner shipping: 30 weeks is an eternity In April 2011, Alphaliner wrote: 'Container shipping lines' operating margins recovered strongly in 2010...industry-wide aggregate operating profits reached an ...
Emirates raises congestion surcharge for Mombasa and Dar Emirates Shipping Line intends to apply a USD250 congestion surcharge on all booking and imports taken for Mombasa and Dar es Salaam on its AFA and GIA services. ...
Shuttlewise links Krefeld with Mortara A rail container shuttle service between the German Ruhr area of Krefeld, and Mortara, near Milan in northern Italy, is scheduled to start on January 9 and already ...
Kuehne + Nagel adopts IAS Dispatch for North American inland ops
Freight forwarders call for exemption from tariff publication for non-US NVOCCs The National Customs Brokers and Forwarders Association of America (NCBFAA) is calling for non-US NVOCCs to also be allowed exemption from rate tariff publication ...
Markets rally despite OECD warning Notwithstanding the prediction from the Organisation for Economic Co-operation and Development that Europe will slide into a double-dip recession next year, investors ...
CSAV denies acquisition rumour Following recent press reports regarding the possible sale of CSAV - the latest of which involves Hapag-Lloyd - the Chile-based company issued the following ...
COP-17: last chance for Kyoto Protocol The second day of the 17th Conference of the Parties [COP-17] United Nations climate change summit in Durban got underway today with little sign of movement from ...
Somali pirates scoop USD6 million for bulk carrier Pirates operating from the lawless state of Somalia have released an Italian-owned 74,500 tonnes bulk carrier, and its six Italian and 15 Filipino crew, held hostage ...
OECD: Europe heading for double-dip recession The Paris-based Organisation for Economic Co-operation and Development [OECD] has warned that the eurozone and other EU nations, such as the UK - which sells 50% ...
Shippers Urge Congress to Block Railroad Strike Shipper groups are pressing Congress to step in to avert a potential nationwide strike next week, with one warning the disruption of...
NAFTA Surface Trade Up 13.8 Percent in September The value of trade using surface transportation between the U.S. and Canada and Mexico rose 13.8 percent in September from...
CSAV Loses $340.3 Million, Denies Sales Plan CSAV posted a net loss of $340.3 million in the third quarter, reversing a $151.8 million profit a year earlier,...
Retail Sales Boom Feeds Restocking Hopes Retail sales grew at a double-digit pace over the Thanksgiving Day weekend, launching the holiday sales season with raised hopes...
Former SC Johnson Transport Director Sentenced in Fraud Case A federal judge sentenced the former transportation director for SC Johnson to eight years in jail this month for his...
Horizon Settles Shippers' Antitrust Claims Horizon Lines has agreed to pay $13.75 million to settle claims by all remaining significant shippers who opted out of...
Three Carriers Hike Asia-Europe-Mediterranean Rates Three major container carriers are imposing peakseason surcharges on westbound shipments from Asia to Europe and the Mediterranean, effective in...
Greece Set to OK Armed Guards to Fight Piracy Greece is preparing legislation to allow its merchant ships to hire armed guards to combat pirate attacks. The draft...
Fesco Gets $135 Million to Upgrade Russian Port Fesco, owner of Russia's largest ocean carrier, has secured a $135 million loan from the European Bank for Reconstruction and...
American Airlines Files for Bankruptcy Protection The parent of American Airlines, the nation's third-largest airline, filed for Chapter 11 bankruptcy protection on Tuesday and began an...
Le Havre to Open Container Terminal in Early 2012 Le Havre will open a $215 million container terminal in early 2012 that will allow France's biggest box port to...
Horizon reaches $13.75 million settlement Horizon Lines announced Tuesday it had reached a $13.75 million settlement with the remainining shippers who opted out of a class action settlement it and other liner companies to Puerto Rico had entered into in 2009.
Maersk to suspend India-Europe loop Maersk Line said it will suspend its ICON service between the Indian Subcontinent and Europe from early February, and will link the region to Europe via Colombo calls by the AE7 and AE1, two of its existing Asia-Europe "daily" loops.
MISC Berhad quits container liner business
Maersk's $150 million IT deal with HP, outsources staff
Iranian bunker supplies meet IMO sulphur spec NIOC's 280 cSt product said to average 3.0% sulphur content.
IFO prices climb in Fujairah Suez shows little movement.
European markets firming Piraeus players report strong demand.
New bunker barge for Baltic terminal Vessel has been built at Turkish yard.
BPO repeats call for delay of ECA sulphur limit Baltic Ports Organization says timetable is 'unrealistic' and will put region's ports at a competitive disadvantage.
Shipping industry 'could probably support' a bunker levy But details would have to be agreed at the IMO, says International Chamber of Shipping.
Samsung orders propulsion technology for LNG-fuelled newbuilds Norway's STADT to provide electric propulsion technology for LNG-electric propulsion system in newbuilds.
Double-digit hikes in Hong Kong, Busan IFO prices Demand for bunkers mixed across key Asian hubs on Tuesday.
Ultra low sulphur gasoil futures to dominate by 2015 Set to replace ICE's 0.1% sulphur gasoil futures contract as the key European oil products benchmark.
Technical challenge for Bit Viking fuel conversion 'immense' 'Special attention' given to bunkering process of vessel, says Germanischer Lloyd.
Caterpillar launches multi-fuel marine engine Caterpillar's MaK M 46 DF engine able to use LNG, MDO or HFO as bunker fuel.
Bonded bunker demand in China to double by 2015 Sinopec plans to occupy two-thirds of China's domestic bunker fuel market by 2013.
South Korean refiners to boost bunker volumes in December But traders warn supplies could still be 'a bit tight'.
Andatee CEO buyout proposal under investigations US law firms to investigate if the buyout offer is 'unfair' and 'inadequate'.
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