Court okays General Maritime revamp General Maritime Corp, the second-largest US owner of oil tankers, won provisional court approval to reorganise even as a bankruptcy judge told creditors to prepare their evidence for an expected fight over final approval of a Chapter 11 plan.
Pirates rob crew, kidnap captain and chief engineer Armed pirates opened fire on a cargo ship in an attack off the Nigerian coast, kidnapping the captain and chief engineer and robbing the crew before escaping, a maritime watchdog said yesterday.
Officers of ship that hit NZ reef plead guilty The captain and the navigating officer of a cargo ship that ran aground on a New Zealand reef last year pleaded guilty yesterday to mishandling the vessel and altering ship documents.
IRU addresses increasing liabilities for road transport operators The recent 9th IRU Symposium of Lawyers on the «Evolution of contractual relations in road transport» highlighted the current enforcement pitfalls and proposed best practices to ad...
MSC to increase rates in Asia-USA/Canada trade The Geneva (Switzerland)-based carrier Mediterranean Shipping Company (MSC) is increasing its eastbound rates in the Asia-USA/Canada trade by USD 240/teu, USD 300/feu and USD ...
Man Latin America continues to top Brazilian market MAN Latin America is once again Brazil's market leader for trucks of 5 t and over. 2011 was the best year in the vehicle manufacturer's history. MAN Latin America sold a total of 7...
Transports Pedretti opens new branch office in France The French transport and logistics company Transports Pedretti recently commenced operations at a new branch office in Buchères, southwest of Troyes (France). The new distribution ...
Transaero enters Armenian market Starting today, 29 February, the Russian carrier Transaero is introducing a service to Armenia. The Moscow Domodedovo-Yerevan link will be operated four times a week initially, the...
Fesco about to complete consolidation of Vladivostok Commercial Sea Port (VMTP) The board of directors of the Russian company Fesco recently approved the possible acquisition of up to a 100% stake in ZAO Transportnaya Companiya. Once this transaction and sever...
GLS Netherlands now AEO certified GLS Netherlands was recently granted the AEO certificate "customs simplifications". The parcel, freight and logistics service provider has been accepted as an authorized economic o...
30 locomotives for Kansas City Southern Railway US transportation secretary Ray LaHood announced a USD 54.6 million loan to Kansas City Southern Railway Company (KCSR) for the purchase of 30 new General Electric ES44AC locomotiv...
VTG continues on path of controlled growth in 2011 Hamburg (Germany)-based VTG Aktiengesellschaft, one of Europe's leading wagon hire and rail logistics companies, reported that railfreight transport in Germany grew by 5.1% in 2011...
New office in Timor-Leste for ISS Maritime services provider Inchcape Shipping Services (ISS) has opened an office in Timor-Leste. The new office, which is located in Dili, will include marine and offshore agency, ...
Sogaris: new director for logistics properties The French company Sogaris has chosen Christophe Ripert as director of the group's logistics real estate. The newly created position pools the formerly independent real estate proj...
Azkar phases in new terminal in Jaén The Spanish transport and logistics company Azkar is expanding its service range on the Iberian peninsula. The firm recently phased in a distribution platform with a working area o...
Centurion Cargo appoints Globe Air Cargo in Germany to market maindeck capacity to Latin America Globe Air Cargo, part of the ECS Group, has won a general sales agency contract for Miami FL (USA)-based Centurion Cargo, a privately-owned company founded in 2001. Under the terms...
AAT Mobile available in android market too Hong Kong's Asia Airfreight Terminal Co Ltd (AAT) announced that its mobile application - AAT Mobile is now available for download in the android market. Airlines, cargo agents and...
The private security firms behind Somalia's pirate armies Gulf governments fund two new counter-piracy police forces set to operate inside Somalia
Shipping sidelined at Somalia conference Moves to ban ransoms put lives at risk in debate that sidelined seafarers
Indian sovereign guarantee in face of Iranian sanctions will shake P&I system Industry fears that China will follow suit
Iranian crude exports to India in January surge Import volumes two-thirds higher than average monthly levels in 2011
Mine expansion could secure new ore volumes for Canada's Port Cartier ArcelorMittal mulls plan to raise Mary River output to 50m tonnes a year
Devil in the detail Analysts' small print tables of financial ratios are excruciatingly dull stuff, but the chart on page 29 of Nomura's report Banks' Shipping Problems comes as something of a surprise
Agents of change Smart shipowners see maritime service providers as a secret weapon
Shipping debt to equity ratios top 1,000% Loss given default yardstick also high, says Nomura analysis
Flood of offers for ExxonMobil cargo as Middle East VLCC glut persists High bunker costs shave $1,000 per day off earnings on benchmark route to Asia
Q&A: Clyde & Co shipping partner John Keough The appeal of varied and complex US cases
Brightoil eyes expansion into LNG Company's new gas projects spur LNG interest and desire to be a 'leading global energy conglomerate'
OSG ponders vessel sales to raise cash 'Multiple options' include asset sell-off, says Artzen
Jason waits on creditors' solution Stripped down Eitzen Group remains on verge of insolvency
Inchcape Shipping swings axe to clear away layers of bureaucracy Parent company prepared to back acquisitions after postponing sale plans
Baltic Exchange to report Asian supramax rates at 1300 local time Midday publishing in Singapore reflects shift of chartering activity to the Pacific region
Rising post-panamax boxship charter rates bring new hope to markets A handful of fixtures at healthier prices boost owner and broker morale
Royal Caribbean exercises €700m Sunshine-class option at Meyer Werft New generation cruiseship to be delivered in spring 2015
HMD wins $250m four-tanker order Kuwait to receive vessels by end-August 2014
Nigerian pirates take hostages from vessel for first time One crew member missing as violent attack on reefer Breiz Klipper is region's seventh incident in two months
South Korea's big three yards to see growth in orders this year Analyst expects recovery due to demand for LNG carriers, offshore vessels and drillships
Stricken Costa Allegra will dock in Mahé tomorrow Costa Cruises flies team to Seychelles to meet passengers in port
Vopak profit rises on 'geographical imbalances' in oil supply Demand for chemicals storage and handling in 2011 was encouraging, says company
NOCC knocked back by low charter rates Delivery of newbuilding and two secondhand vessels expected in year
Dublin Port launches $403m masterplan 30-year expansion blueprint will double throughput to 60m tonnes
Japan P&I Club announces 10% unbudgeted supplementary call Group holds fire on proposed $103m subordinated loan
General Maritime Chapter 11 reorganisation plan back on track But bondholders given another opportunity to object to Oaktree rescue 'on any and all grounds' prior to April confirmation
Rena master and second officer face jail terms Sentencing due in May over boxship grounding and oil spill
PEMEX exports stabilise MEXICAN oil giant PEMEX has reported only a small drop in exports for 2011, as volumes stabilised after previous years' sharp declines
Pirates take two hostages A PIRATE attack on a reefer ship anchored off Nigeria spurred a maritime security alert from GAC today
Seadrill's quarter profits deflated LOSSES on the financial derivatives markets cut deep into the net profits of Seadrill in 2011's final quarter
Drybulk port snarls ease DRYBULK port congestion is continuing to ease, with vessel queues dropping in Australian and Brazilian harbours
US nabs drunken master A BULKER captain has been detained in Oregon after US government officials determined that he was intoxicated
Pakistan nears open access with India PAKISTAN took the bold step today of increasing the number of goods tradable with India - much of it by sea ' by more than 6,000 items
Nhava Sheva terminal rates cut 44% INDIA'S Tariff Authority for Major Ports has cut rates by 44% at the third box terminal at Nhava Sheva
Caspian fire kills mariner A BLAZE that broke out on a tanker as it set off into the Caspian Sea killed one seafarer and injured three, Russian regional rescue services said today
Asian Panamax rates rise PANAMAX bulker rates have risen in Asia, with the grain season in EC South America attracting ballasters from the Pacific
US seen as future major coal exporter THE US could emerge as a major coal supplier amid changing supply and demand patterns, a coal conference heard today
Golar LNG raises $250M GOLAR LNG said today it has raised $250M in five-year convertible bonds
Asia, GoM chem rates diverge CHEMICAL rates are moving in opposite directions in the Gulf of Mexico and Asia
Höegh's losses deepen NORWAY'S Höegh LNG today reported deeper losses for both the final quarter and full-year 2011
Reef dredge plan defended AUSTRALIA's Great Barrier Reef Marine Park Authority told IHS Fairplay that a plan to charge a fee to dispose of dredging material would not raise how much of it is dumped in the refuge
Maybulk's profits dive 61% MAYBULK'S 2011 net profits dived 61% year on year to 91.3M ringgit ($30.4M)
Jones Act Carriers on Alert to Tap US Oil Reserve Jones Act carriers say they are ready to haul oil from the Strategic Petroleum Reserve if President Obama decides to...
Hyundai Hikes North America-Latin America Rates Hyundai Merchant Marine plans a general rate increase effective April 15 for shipments from the U.S. and Canada to Argentina,...
Grounded Jade Cargo Gains Restructuring Aid Jade Cargo this week came a step closer to taking to the air again after its owners agreed to work...
De Well to Sell Ocean Capacity via JOC Exchange Logistics provider De Well Group plans to market and sell ocean container capacity available through the JOC Exchange, an online...
Truckload Capacity Drops 1.1 Percent, Survey Shows Capacity at a group of six large truckload carriers slipped 0.7 percent in the fourth quarter from the previous quarter...
Global Air Cargo Traffic Stabilized in January, IATA Says International air cargo traffic has stabilized after a year-long slump despite an 8.1 decline in January volume, which was caused...
Damco Profit Jumped 29 Percent in 2011 Damco, the logistics and forwarding unit of A.P. Moller-Maersk, posted a 29 percent increase in profit last year as revenue...
British Airways, Iberia Boost Cargo Revenue 8.6 Percent International Airlines Group's freight revenue in 2011 grew 8.6 percent from a year ago to $1.6 billion, as the Anglo-Spanish...
US Economy Grew 3 Percent in Fourth Quarter The U.S. economy expanded at a 3 percent annual rate in the last quarter of 2011, topping the previous estimate...
Hong Kong Airlines Stops Dolphin Transport Hong Kong Airlines has bowed to pressure from customers and animal welfare groups to stop transporting live dolphins. ...
MSC Joins Maersk to Push Second Asia-Europe Rate Hike Mediterranean Shipping became the second carrier after Maersk Line to announce a second rate hike this year of $400 per...
Heated ILA Negotiations Could Push Cargo to West Coast West Coast ports could see a diversion of cargo from East and Gulf Coast ports this year if contract talks...
Eastbound Trans-Pacific Spot Rates Slip 1.8 Percent Average eastbound trans-Pacific spot rates fell 1.8 percent this week, as slack seasonal demand further undermined the rate increase that...
Star Cool makes CA 'more affordable' At least that is what Anders Holm, an executive in Maersk Container Industry's sales and marketing department, claims. He was referring to the company's decision ...
WTSA launches new rate increases Shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) have announced a round of dry cargo rate increases, which they said was part of their ...
Ocean carriers thrown crumbs of hope Philippe Hoehlinger's latest macro-economic report on the container shipping industry reveals that global cargo growth in 2012 will be less than last year, but ...
Vancouver's 2011 volumes boosted by exports Canada's Port Metro Vancouver has seen its container volumes grow year-on-year for 2011 - boosted by exports aimed at the Asia Pacific.Overall laden volumes climbed ...
APM T continues to refocus its inland services division APM Terminals (APM T) will continue to reshape its inland services in the interest of improving the customer experience and raising margins, according to Km Fejfer, ...
ATA 'not surprised' by truck tonnage decline A month-on-month fall of 4% on freight tonnage carried by truck in the US in January has 'not surprised' the American Truck Association's chief economist, Bob Costello, ...
Grindrod earnings weaken in 2011 Grindrod, the Durban (South Africa)-based shipping, freight services and trading group, saw net profit ease by 11.4% to ZAR845.1(USD112) million in its 2011 fiscal ...
Rena officers plead guilty, face long jail term The master and the second officer of the MSC-operated boxship Rena, pleaded guilty in the Tauranga District Court today to 10 out of the 11 charges laid against ...
MSC follows Maersk with April 1, Asia - Europe GRI Arguably the biggest threat to Maersk Line's recently declared new move 'towards profitability ahead of further market share gain' strategy, Geneva-headquartered ...
Spurring action for biodiesel Renewable Energy Group releases an-easy-to-use platform to contact state or federal elected officials.
Crude falls on high inventory supplies Crude inventories at five-month high.
Momentum building for Bahamas CO2 reduction proposal MEPC 63 considers raft of very different MBM proposals but only one deemed ready for inclusion in impact assessment.
Khalifa Port to open this year Port to develop bunkering facilities.
IFO prices falling in Fujairah Prices lack direction in South Africa.
Prices soften in European bunker markets Rotterdam players report good avails.
Polar Code: IMO 'just needs more time' Spokesperson denies claims that non-polar states and industry lobby groups are behind the latest delay.
Singapore sales 'dip' as differentials narrow Players report fewer vessels making 'bunker only calls.'
Bunker prices falling in Asia Mixed demand at Asian bunkering hubs on Wednesday.
OSG plunges deeper into the red in 2011 Losses in international crude segment due to fleet overcapacity and higher bunker prices.
Cosco clinches contracts for seven 'fuel efficient' newbuilds Cosco estimates to gain around $190 million from the newbuilding contracts.
Rena officers plead guilty to multiple charges Ship master pleads guilty to all six charges laid against him, second officer pleads guilty to four offenses.
Chinese shipyard delivers new fuel efficient Ultra-max bulker Sinopacific's Crown 63 capable of reducing fuel consumption by 13%.
Shipping industry 'totally opposed' to inclusion in ETS Shippers already adopting EDDI and SEEMP to limit emissions, says ICS.
Fuel removal from Costa Concordia resumes Crane barge Meloria and bunker tanker Magic Duba repositioned alongside Costa Concordia
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