Time to review maritime law: US lawmaker A US lawmaker on Wednesday urged a review of US maritime law which could lead to bigger compensation payouts for passengers seeking damages from ship operators after deadly disasters at sea.
Baltic index hits 25-year low amid vessel glut The Baltic Dry Index, a measure of costs to ship dry-bulk commodities, fell to the lowest monthly average in more than 25 years as a glut of vessels weighed on freight rates.
Shipping loan losses seen hitting US$13b Banks will lose US$13 billion over the next two years on 3 per cent of all shipping loans as a collapse in earnings drains vessel owners' cash flows amid depressed asset values, Nomura Equity Research said. Thirty-one per cent of loans held by 83 shipping companies with US$201 billion in debt may 'be vulnerable,' and 10 per cent might become non-performing, the investment bank said in a report dated Feb 27.
Govt may reserve a quarter of ex-im cargo biz for Indian ships
ICC/Ifo survey reveals slight brightening in world economic climate
Rickmers-Linie in tie-up with Stonetrans, Antwerp Breakbulk Agencies & DP World Breakbulk to ship rough granite, sandstone blocks from India to Antwerp
Tanker insurers may take a hit due to Iran sanctions
Negative trade list for India cleared, MFN status by year-end: Pak
Draft Policy for award of ports waterfront & associated land on captive user basis
Feb. 28 strike a total success at Kandla Port: Unions
MbPT beats JNPT to win Major Ports Cricket Championship
ICHAA re-elects Anurag Vijayvargiya as President & Rajan Pillai as Hon. Secretary for 2012-13
SAS Cargo adds Shanghai to network Today (1 March), the Scandinavian carrier SAS is launching a new Copenhagen-Shanghai (China) route, which will further improve the service between Scandinavia and the Chinese marke...
AMI moves into new Heathrow home The UK arm of Air Menzies International (AMI) - one of the world's largest trade-only airfreight and express wholesalers - has moved into a new London Heathrow hub facility at Pola...
New loan for construction of Brcko bypass The European Bank for Reconstruction and Development (EBRD) is continuing to support the modernisation of transport infrastructure in Bosnia-Herzegovina with a sovereign EUR 28.5mi...
Etihad Airways increasing surcharges to offset EU carbon scheme UAE-based Etihad Airways is increasing the fuel surcharge on its European flights to offset the costs being imposed on the airlin...
Finnlines with biweekly service from Wallhamn to Ust-Luga Finnllines is starting a new biweekly new service from Wallhamn on the southwest coast of Sweden to the Russian port of Ust-Luga in late March. The Finnish shipping company will de...
European road transport rates decrease since May 2011 European road freight prices decreased by 0.6% in Q4/2011 compared to the price index in Q3/2011 and by 1.5% compared to the index level in Q4 of the previous year, reported Trans...
Sernam: will the EU offer financial support? Over the next few days the European Commission will decide whether to offer financial support to the French transport company Sernam. The latter already received subsidies in 1998....
Terminal Basel Nord to be trimodal hub Switzerland's new Terminal Basel Nord will be designed as a trimodal hub for maritime containers. The focus will be on inland ship - railway transport chain. This will allow contai...
CP expands its oil by rail operation to Lloydminster, Saskatchewan Canadian Pacific (CP), a North American transcontinental railfreight transportation company, is now shipping crude oil by rail from a new transload facility near Lloydminster, Sask...
Philippine ambassador visits ICTSI Manzanillo George Reyes, the newly appointed Philippine ambassador to Mexico and Central America, visited the site where Contecon Manzanillo S.A (CMSA), a wholly owned Mexican subsidiary of I...
UPS woos TNT after weak financial year 2011 The Dutch group TNT Express reported a net loss of EUR 270 million for business year 2011. The giant US-based parcel service provider UPS is continuing its takeover negotiations fo...
New CEO for Alitalia The Italian airline Alitalia board has chosen Andrea Ragnetti to replace Rocco Sabelli as chief executive, effective from 5 March. Ragnetti is a former executive of Royal Philips E...
Gefco and Minsheng Shipping evolving into Shenzhen Minsheng Gefco Logistics It has only just come to light that the French transport provider Gefco and the leading Chinese logistics service provider Minsheng Shipping signed a joint venture contract on 5 Ja...
Kuehne + Nagel opens new office in in Thailand Kuehne + Nagel, the giant logistics service provider based in Schindellegi (Switzerland), has opened a new office in Chiang Mai to meet the strong demand for integrated logistics ...
Lehnkering Chemical Transport. management expanded The Lehnkering Chemical Transport (LCT) division, which is part of the company's road logistics and services (RLS) sector, will be headed by Steffen Bauer, with immediate effect. H...
Break Bulk China: Shanghai- first stage of this year's Business Run Flensborg and Associates, a Munich-based sales and consulting firm, organised the seventh Break-Bulk Business Run in Shanghai (China) on 28 February 2012, and also announced the ex...
Weak European coal demand sees Atlantic and Pacific rates diverge Widening gap between panamax and supramax spot rates
Australian and Indonesian exports dominated 2011 global coal trade However, Atlantic coal tonne-mile demand rose 50% last year
Robust Chinese demand brings cautious optimism to car carriers Improved supply-demand balance to drive rate increases, says DVB Bank
Caribbean-US product tanker trade collapses after refinery closure Brokers say Baltic Exchange benchmark route now 'irrelevant' to the market
Concordia Maritime evaluates next move after broadening trade base Swedish tanker owner expanding presence in edible oils sector
The cheap and cheerless shall inherit the seas What price cost cutting when the average shipping firm has no fat to trim?
Pimp my ship Making the case for slower sailing speeds
Marine Money: a tale of cynics, sceptics, epicureans and stoics Speakers agree on bleak short-term trends but disagree about opportunities
Fredriksen selling Seadrill shares to 'aggressively pursue' shipping opportunities Stock equivalent to $1bn could benefit tycoon's portfolio of companies but also potential new ventures, say analysts
Last Embiricos single-hull tanker sold for demolition Brokers report that Antiparos will be recycled in Pakistan
European freight forwarders still foresee an upturn Bank's monthly sentiment index suggests a rise in volumes in the coming two months
Annual Chinese crude oil tonne-mile demand closing in on US levels Rise in shipments from South America to China increases sailing distances but ESPO pipeline limits growth level
First mainland China-owned cruiseship sets sail next week Huang pledges to invest in fleet to tap growing Asian leisure market
Dr Peters seeks fresh capital KG fund seeks to buy back two insolvent tankers
Hong Kong bidding Sailors' Society hosts charity bash
KG owner is plaintiff in Hyundai Merchant Marine Rule B case NSC Schiffahrtsgesellschaft and not Reederei Claus-Peter Offen is the company alleging $1.89m default
Seanergy regains compliance Surge in share price helps meet Nasdaq rules on minimum market value
Soaring box index shows lines' GRI success Big Asia-Europe rate increases achieved
Torm working on new structure Meldgaard says restructing will be attractive to new investors
MHI and Sinopacific announce kamsarmax partnership Japanese yard will sell technology know-how to mid-sized Chinese niche player
Lomar named as Cosco customer Dry bulk order came from maritime unit of Logothetis-backed Libra
Bad weather delays Rena salvage Costs expected to top $100m
Eurotunnel has 'strong interest' in buying ex-SeaFrance vessels Jacques Gounon says consortium of 500 former Seafrance staff is willing to restart Dover-Calais service
Costa Allegra passengers disembark in Mahé Cruiseship has taken three days to reach shore
Looks bad, is bad Shipping companies the world over represent the shipping industry as a whole, so Costa's problems are the cruise industry's problems
Seafarers killed in clash with pirates confirmed as Pakistani and Iranian But identity of vessel recaptured by Danish navy still unknown
DFDS issues 2012 profits warning Danish freight and passenger ferry operator cites tougher competition in the North Sea ro-ro market and higher bunker costs
Let the market decide Why speed limits are a bad idea
Sinoceanic delays delivery of MSC Altair as it fails to find funding Oslo-listed boxship operator unable to raise $61m from China's HNA Group as planned
Cash grab alleged AN EXECUTIVE of Houston's Delos Shipping has alleged in a court document that BLT's controlling shareholder has shifted funds out of the Indonesian company
High prices hurt oil demand IHS CERA warned today high oil prices could destroy demand in an already-weak economic climate, which would hurt the already-oversupplied tanker sector
Pacific Basin's profits drop by 69% PACIFIC Basin Shipping today said net profits for 2011 were $32M, a 69% drop from 2010's results
WWL plans green surcharge WWL TOLD Fairplay it plans to raise rates to offset spiralling costs from environmental regulation
TWIC needs tweaking BIOMETRIC security card readers at US ports face a range of challenges before a final rule on regulatory requirements can proceed, a government report concluded
Yangzijiang unveils $631M in profits SINGAPORE-listed Chinese shipbuilder Yangzijiang has posted record profits of 3.98Bn yuan ($631.16M) for 2011
No-one hurt as Allegra passengers go ashore CRIPPLED Costa Allegra was towed into Port Victoria, Seychelles, this morning at about 10.30 local time
Oz coal boom tied to degradation GREENPEACE today released a report warning about environmental damage caused by port schemes and rising bulker traffic from Queensland's coal boom
Courage loses $28.95M COURAGE Marine said today it incurred $28.95M in losses for 2011, reversing $9.176M in profits for 2010
RCL falls $25.5M into red THAILAND'S RCL said today it lost 780M baht ($25.5M) in 2011, reversing 465M baht in profits for 2010
TORM loses more than forecast DS TORM said today it remains in talks with lenders over its financial problems, while reporting that impairment charges sparked much deeper 2011 losses than it had expected
NOL shares rise on sunny forecast NOL'S shares rose today after Morgan Stanley predicted a return to profitability from 3Q2012
Truck Pricing Forecast to Climb 3 to 5 Percent Truck pricing is expected to rise by low to mid-single digit percentages over the next year, as shippers, brokers and...
Intermodal Volume Slips 2.8 Percent Intermodal volume last week slipped 2.8 percent year-over-year to 214,402 trailers and containers while carload traffic fell 5 percent to...
UPS Names McCorstin to VP Post UPS has named Jeff McCorstin vice president of international air and ocean freight transportation services. McCorstin will succeed Bob...
2 Dead, 3 Missing After Ships Collide Off India An "unidentified" merchant ship collided with an Indian fishing trawler early Thursday about 15 nautical miles off the country's southern...
House Republicans Could Cut Transport Plan to 18 Months When news broke that House Republicans were considering scaling back their surface transportation bill to 18 months from five years,...
OOCL to Boost Australia-SE Asia Rates OOCL says it will increase freight rates on cargo moving to Australia from Southeast Asia, including from Singapore, Malaysia, Thailand,...
Uggla to Fill Top Slot at Maersk Tugboat Subsidiary A.P. Moller-Maersk appointed Robert Uggla chief executive of its Svitzer tugboats subsidiary. Uggla is the 33-year-old grandson of Maersk McKinney...
Asia-Europe Spot Rates Skyrocket 88 Percent A key Asia-Europe freight index has soared 88 percent in the past week, boosting carriers' hopes steep rate hikes introduced...
Hanjin to Receive First of 13,000-TEU Ships in April Hanjin Shipping will take delivery on April 1 of the first of the five huge post-Panamax ships it ordered in...
DFDS Books Record Profit, Forecasts Tougher 2012 DFDS grew 2011 pre-tax profit by 36 percent from a year ago to a record $133 million, but the company...
Seig to Head Ocean Freight at Damco Martin Seig has been named global head of ocean freight at Damco, the logistics and forwarding unit of A.P. Moller-Maersk....
Seaspan Reports Profit, Plans to Buy Back Stock Container ship owner-charterer Seaspan reported $35.5 million in normalized net earnings for the fourth quarter, a 31.5 percent increase from...
Deck Officers Plead Guilty to Charges in Rena Wreck The captain and navigating officer of the Rena container ship that ran aground Oct. 5 on a New Zealand reef...
NAFTA trade 12% up y-o-y in December The latest data released by the US Department of Transport's (DOT) statistics office for trade using surface transportation between the US and its NAFTA [North ...
SeaCube's investments pay off New York-based SeaCube Container Leasing has followed the sector's trend by posting much better results in 2011 than it did in 2010. In particular, the listed group ...
Argentina looks at banning UK imports The tension between the UK and Argentinian Governments over the Falkland Islands has intensified following Debora Giorgi, the latter country's Minister of Industry ...
Containerisation International poll: customer service a 'dirty word'
CMA CGM/Maersk upgrade transatlantic ships
ADPC takes delivery of its first gantry cranes The Abu Dhabi Ports Company (ADPC) has taken delivery of its first super-post-panamax ship-to-shore gantry cranes for the new port of Khalifa. A second batch of ...
TCB Railway takes Barcelona's rail transport to new heights TCB Railway increased its traffic by 21% last year, up to 93,000TEU. Further growth of 29% is expected this year, up to 120,000 TEU due to the wide range of services ...
Somalia conference 'failed' shipping That is the view of many from within the shipping industry after digesting the conclusions from the Somalia conference in London last week; although the commitments ...
Zim poised to raise rates Israeli containership giant readies rate restoration programme in response to market turbulence.
USCG hauls in Morning Spruce Authorities blast Eukor car-carrier over 'substandard operation and condition' as inspection uncovers safety hazards.
GMR limps toward next phase Bankrupt tanker owner readies race for creditor blessing as four-week loss tops $63m.
Prosafe pockets more in Q4 Oslo-listed accommodation owner turns in improved final quarter numbers but sees full year dip.
Wreck snags boxship Singapore's Akari gets stuck on uncharted sunken vessel off Hon Dau in Vietnam, port authority says.
Seanergy sitting pretty Dale Ploughman in the driver's seat as US-listed bulker owner regains compliance with Nasdaq listing requirement.
JES takes its time Singapore-listed Chinese shipyard needs longer to post annual report as it accounts for vessel delivery delays.
BW joins bond bandwagon Oslo-listed offshore owner the latest to contemplate a fundraiser via the bond market.
Eagle talons target Allied Sophoclles Zoullas at the helm as Eagle Bulk mounts legal assault against Dimitris Marinis-backed operator over unpaid hire.
Vernicos plots fleet growth Greek owner says Chinese newbuilding and another second-hand deal likely as it snaps up Svitzer tug.
Seaspan lifts dividend again New York-listed containership owner adds another 33% to its quarterly handout despite lower Q4 bottom line.
What TBOOK WOG means London appeal court makes an important ruling about tanker safety inspections and what they mean for chartering deals.
Drydocks World closes in Dubai-based yard to lay out plans for massive financial restucturing deal next week.
Tallink on the up Estonian ro-ro operator firmly in profit as passenger numbers increase.
Torm solution still hanging Danish owner loses over $400m in 2011 as annual report passes without restructuring plan.
Yin and Yang of green shipping Singapore has shown the world that it is as committed to global environmental issues as its peers such as Hong Kong.
MEPC 63: Applying EEDI to existing ships firmly rejected IMO committee agrees it would be 'inappropriate' to apply EEDI formula to existing ships, meaning some MBM proposals will need revision.
Banks 'losing patience' with struggling shipping companies Next ten months likely to see bankruptcies and consolidation.
Little price movement in Fujairah Bunker demand in Suez 'average', a player told Bunkerworld.
IFO prices firming in Rotterdam and Hamburg Icy conditions have cleared in Hamburg.
Call for standard to measure hull and propeller performance gaining traction Some support at MEPC for developing standard which would help owners assess available antifouling coatings and other tools.
Torm faces an uncertain future Shipping group reports widening losses as a refinancing deadline passes without agreement.
MEPC 63: CSC outlines 'considerable' GHG reduction potential Improved hull and propeller performance could equal 35-50% of IMOs CO2 reduction target due to fuel savings.
Pressure for fuel economy driving demand for newbuilds Owners looking for fixed cost savings of around 30%.
Fuel oil stocks climb again Inventories at a nine-and-a-half month high.
IFO prices firming in Singapore Public holiday in Busan.
Berlian Laju defaults on six of its debt instruments Company defaults on two guaranteed convertible bonds and four Indonesian Rupiah issues.
380 cSt grade deliveries 'temporarily unavailable' at Taichung Bunker barge responsible for deliveries of 380 cSt grade under annual maintenance, says CPC Corporation.
South Korean bunker stocks slightly lower in March SK Energy to undergo maintenance in one of its CDUs from second half of March.
UK-based shipper places orders for six fuel efficient Ultramax vessels New Ultramax bulk carriers able to carry up to 11% more cargo and consume around 13% less fuel, compared to Supramaxes.
Vopak 2011 net profits slightly up on year Generally positive outlook for products storage business in 2012 and 2013, says Vopak.
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