Wilbur Ross mulls over further investments in shipping Billionaire Wilbur Ross said he's considering further investments in shipping as financial distress within the maritime industry intensifies.
Baltic sea index up on higher capesize rates The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Friday as rates for large capesize vessels climbed for a fourth straight day on higher iron ore activity.
Air Namibia postpones regional service launch The southern African carrier Air Namibia has postponed its planned service resumption on the Windhoek - Harare (Zimbabwe) route and the new service launch on the Windhoek - Gaboron...
JAL Cargo fuel surcharge from April With effect from 1 April 2009, the Japanese airline JAL has been adjusting its cargo fuel surcharge levels on a monthly basis by using the one-month average fuel price of Singapore...
LH Cargo to add Montevideo to its network The German carrier Lufthansa Cargo offers flights to 303 destinations in 99 countries. New in the cargo carrier's global network is the Chinese metropolis Chongqing. Kolkata (Indi...
GM award for Grimaldi Group The Italian carrier Grimaldi Group has been recognised by the US-based car manufacturer General Motors as a 2011 world class automotive supplier of the year. Grimaldi was chosen ...
Canadian Government to invest in Montreal and St Lawrence Denis Lebel, the Canadian minister of transport, infrastructure and communities, has announced that his country's federal government will invest in the enhancement of the container...
New centre of excellence for MAN vehicles in Central Switzerland The German vehicle manufacturer MAN recently opened its new centre of excellence in Emmen (Switzerland), following a two-year planning and construction period. Inspection lanes, di...
PCC Intermodal received the AEOS certificate The Polish transport service provider PCC Intermodal has received the authorized economic operator/security and safety certificate (AEOS). This certification is an important asset ...
Online Systemlogistik collaborating with OneExpress The German forwarding alliance Online Systemlogistik für Spedition & Service GmbH has set up an alliance with OneExpress Italia SpA. The latter forwarding collaboration operate...
SBB Cargo: 2011 results The Swiss railfreight service provider SBB Cargo posted a loss of CHF 55 million in 2011, and saw its transport performance slip by 5.8% to 12.346 billion ntkm. At a press conferen...
Osec names new head of communication and marketing Osec, Switzerland's trade promotion network, has appointed Bianca Rühle-Heeb as head of its communication and marketing division. She will take up her tasks in mid April, replacing...
SASI with two new appointments Strategic Aviation Solutions International (SASI) has appointed two new senior advisors to the company. Uwe Beck, senior advisor property and facilities, was responsible for leadin...
Kerry Logistics reports strong growth in turnover and profits in 2011 Kerry Logistics reported a 47% increase in turnover to HKD 16.034 billion (USD 2.061 billion) and boosted its net profit by 11% to HKD 740 million (USD 95 million) in 2011, excludi...
Ceva Logistics announces two year contract renewal with Renault in Brazil Logistics and SCM specialist Ceva Logistics has signed a two year contract extension with Renault in Brazil for the receipt, storage and consolidation of automotive parts for expor...
Agility obtains good distribution practice certification in Ireland The global logistics service provider Agility has obtained good distribution practice (GDP) certification for its pharmaceutical competence centre (PCC) in Ireland. The certificate...
Britain remembers vital role of shipping in Falklands War Merchant fleet critical to 1982 conflict
Atlantic Conveyor loss a serious blow Master awarded posthumous DSC
Damco system irons out purchase order wrinkles Damco says its Dynamic Flow Control can offer 'significant' savings by making it simpler to update purchase orders and optimise container fill rates
It's the meaning that matters We have sustainable fishing and sustainable ship technology, but do we have a financially sustainable industry?
NY-NJ cost-cutting targets non-union benefits Savings pegged at $41m through to end-2013
VLCC earnings reach highest levels since February 2011 But can Middle East-Asia spot prices top $50,000 a day?
Nordic Tankers' fleet sale to spark consolidation Industry sees arrival of new 120-ship chemical tanker entity as smaller companies struggle to survive
Snake oil or solution? Scepticism about overhyped technologies can become a Luddite refusal to change
Cosco still upbeat after heavy loss Chinese shipping conglomerate talks about acquisitions and attacks Vale over giant vessels
Exmar orders eight medium LPG carriers Company opts for hi-spec 'green' vessels
Suez terminal hit by go-slow Action by 800 workers over benefits disrupts operations at Port Said hub
Capesize owners anchoring for better days Week ahead will be slow, affected by Easter and Chinese holidays
Seaborne coal trade will top 1trn tonnes by 2016 Macquarie outlook bullish despite rising Chinese and Mongolian output
Diana snaps up seven-year-old panamax for less than $21m Confirmation of Mining Star deal comes a day after ice-class vessel orders
HHLA forecasts 5% growth Terminal operator predicts rise in box handling above market average
MPC Capital back in the black Restructured KG house makes €1m profit as it negotiates new finance deal with banks
Evergreen in $105m yearly loss Negative result follows 12% drop in operating income
EU funding to aid BCT expansion Project will increase box capacity at Polish port by 60% in three years
Faint whiff of optimism While many owners still face financial difficulties, there is hope for the future of environmental technologies
Attica flags up bank talks after latest loss Fuel costs and diminished traffic continue to bite Greek ferry lines
Adani Ports gets $1.2bn refinancing loan Money from Australian and Asian lenders will refinance bridge loan for Abbot Point coal terminal
Cosco shocker China's biggest shipping company needs to explain how it will make money this year
GasLog completes IPO at $14 a share Despite modest debut LNG offering gives NYSE cause for cheer
Sanko Steamship grasps three-month lifeline Shipowner forced to sell vessels as creditors freeze debts repayments
Damen taking over SOBRENA THE DUTCH shipbuilding and repair group Damen told Fairplay this afternoon its bid for leading French ship repairer SOBRENA had been accepted by a court in Brest
Hamburg approves €420M Hapag investment HAMBURG's state parliament has approved a €420M ($560.82M) investment in box giant Hapag-Lloyd
More strength seen for vehicle carriers THE CAR carrier business is outperforming most shipping sectors these tough times, and its short-term outlook looks brighter still, RS Platou Markets said
Victims' relatives settle RELATIVES of five Indian fishermen who were killed in a collision with a bulker told Kerala High Court today they have agreed to a settlement
Indian court clears sailing of ship in slayings A TANKER from which the shots were allegedly fired that killed two fishermen has been conditionally released by an Indian court
GSI's profits fall CHINESE shipbuilder Guangzhou Shipyard International today announced a 38% drop in profits for 2011
China COSCO unveils deep losses THE BOX shipping, logistics and drybulk giant China COSCO Holdings has reported deep losses for 2011
Lingering oversupply seen A REPORT from a ratings agency has warned that shipping worldwide can expect oversupply pressures until at least 2014, plus a growing credit squeeze that hampers lending
Box alliances could mitigate ULCS threat BOX CARRIER alliances could mitigate the threat of overcapacity on Asia/Europe box trades, Credit Suisse has predicted
Box giants risk negative cashflow MAJOR box carriers could resort to more secondary offerings in equity markets, warned shipping analyst Janet Lewis
Asian IPOs exceed 2008 totals IPO TOTALS for Asian shipping groups have risen steadily since the financial crisis struck in 2008, a Standard Chartered Bank report has found
Family Dollar to Increase Inventory 20 Percent Family Dollar Stores' plan to increase inventory up to 20 percent by adding new products and opening up to 500...
FMCSA Closes Unsafe Utah Trucking Firm Federal regulators shut down trucking firm Reliable Transportation, citing the carrier and its owner for "countless" violations of driver work...
China Merchants Profit Drops 5.2 Percent China Merchants Holdings reported a 5.2 percent year-over-year drop in net profit for 2011 even as the volume of containers...
Drewry Questions Whether Rate Increases Will Hold Although spot freight rates on the Asia-Europe and trans-Pacific trade lanes have risen dramatically as a result of the general...
Protests at India's Port Nehru End India's Port of Jawaharlal Nehru (Nhava Sheva) resumed operations on Thursday night following the end of a three-day campaign of...
ILA, USMX Exchange Contract Proposals, Express 'Optimism' The International Longshoremen's Association and its East and Gulf coast employers exchanged initial contract proposals and expressed optimism about reaching...
Expeditors' Rose Denies Price-Fixing Allegations Expeditors International of Washington "vigorously denied" price-setting allegations that resulted in a $5.5 million fine from the European Commission. ...
Hapag-Lloyd to Hike India-US Rates Hapag-Lloyd will impose a general rate increase on all cargo from the Indian Subcontinent to the U.S. and Canada, starting...
Kerry Logistics Profit up 11 Percent Kerry Logistics booked substantial growth in turnover and profit last year as its investments in China and Southeast Asia started...
Delaware Truckers Charged With Shipper, Tax Fraud Two trucking company owners already charged with defrauding a shipper customer now face charges that they tried to scam the...
Air China and Cathay Pacific Increase Cooperation in Shanghai Air China and Cathay Pacific are extending their cooperation by establishing a joint venture ground handling company in Shanghai. ...
Maersk to Clear Backlogs, Raise Rates on North Europe-Asia Services Maersk will clear backlogs on North Europe-Asia services by early May and introduce a new general rate increase from the...
NY-NJ Port Authority to Create Single Security Department The Port Authority of New York and New Jersey will consolidate all its security functions into a new department as...
China Cosco Reports $1.66 Billion 2011 Loss China Cosco Holdings swung to a full-year net loss of $1.66 billion in 2011, according to Chinese accounting standards, because...
Nippon Express Buys US Logistics Firm AGS Nippon Express Co., Japan's largest international freight forwarder, said that it has acquired a 100 percent stake in U.S. logistics...
Challenges Mount in Trans-Atlantic Shipping Lanes The trans-Atlantic trade, long the most stable of the east-west shipping markets in terms of freight rates and vessel capacity,...
Port Development: Baltimore's Inside Track? The Port of Baltimore, despite being on the doorstep of one of the world's wealthiest consumer markets, has struggled to...
Infrastructure Investment: The Long View At the risk of trying to make sense out of nonsense, here's a question: When Congress and the administration cite...
MOL Expands Africa-Asia Shipping Services MOL will expand its container shipping services between Asia and Africa with a new route next month. The company's...
PSA Sees Profits Fall Despite Global Volume Growth Singapore's PSA Group recorded a 3.7 percent drop in profits last year despite volumes handled at its global portfolio of...
PSCCHC facility offers increased draft Port Said Container and Cargo Handling Co [PSCCHC] the state-controlled operator of the container terminal in West Port Said, has announced that its quayside draft ...
Samskip adds Norwegian port to its portfolio Multimodal container logistics operator, Samskip, has added the Norwegian port of Flekkefjord, to its offering on the weekly NWC [Norwegian West Coast] to Rotterdam ...
HHLA still keeping shareholders happy Hamburg's largest stevedore Hamburger Hafen und Logistik AG (HHLA) made another healthy profit last year, underlining the very favourable conditions of the container ...
HPH shows resilience in 2011 Hong Kong-based Hutchison Port Holdings (HPH), the world's largest operator of container terminals, revealed the continuing resilience of this business sector as ...
CMHI posts healthy results for 2011 China Merchants Holdings International (CMHI) saw revenue port operations grow in 2011 on the back of a rise in cargo handled and the 'nurturing of new profit growth ...
COSCO at top of red ink list China COSCO Holdings has plummeted into the red for 2011 with a huge net loss of USD1.4 billion. This compares to a 2010 profit of USD1.3 billion. Revenue plunged ...
DP World expects EBITDA margins to continue improving Speaking at the annual results announcement yesterday, DP World chairman, Sultan Ahmed bin Sulayem said he was confident that operating margins at the port operating ...
Maersk asks its North European clients to pay more But that is not until Europe's shippers are able to book their cargo with the Danish carrier again after its immediate 'booking stop' imposed last week.Indeed, ...
ZIM Line sees recovery ahead Israel's flag carrier, ZIM Line, has posted a thumping loss for 2011 but pointed to a 'discernable' recovery in the market supported by increased freight rates' ...
Bunker prices fall as week ends Trading was quiet on the US Gulf, local players told Bunkerworld.
Dan-Bunkering to expand into the Americas New Houston office will be led by Hans Lind Dollerup.
Risler Bunkering closed for holiday Employees will be contactable on their mobile phones.
Prices falling across the board Average demand in Hamburg.
CEPSA reshuffles management, traders A number of changes in management at CEPSA Marine Fuels as part of global restructuring.
Prices falling in Fujairah Good demand and avails reported in Middle East hub.
Oil terminal will make Cyprus an 'energy trading hub' Work on Vassiliko terminal to begin 'almost immediately'.
Bunker suppliers seeing 'critical vendor' status challenged Lawyers panel warns that US bankruptcy courts no longer giving priority to bunker debts.
More bunker grades could trigger insurance claims Association of marine insurers 'paying close attention' to impact on engines.
NYK Line receives certification for latest revision of SEEMP SEEMP certification in compliance with latest IMO guidelines adopted by MEPC 63.
Bunker prices falling in key Asia markets Good supplies of marine fuel at major Asian ports sufficient on Friday.
Gas shipping firm orders environmental friendly LPG newbuilds Vessels to include LNG/LPG bunker fuel tanks, scrubber and ballast water treatment systems.
Sulphur regulation to change 'character' of bunker industry LNG 'answer' to meet challenges faced by ship operators, says GL-Futureship Vice President.
Tanker firm orders vessel efficiency management software NAPA-DSME Power software able to save up to 5% of a tanker's fuel costs, says maritime software firm.
'Significant' increase in bunker costs puts pressure on China Cosco The Hong Kong-listed firm swings to loss in 2011 as bunker costs increase by 34.9%.
Indian shipping companies 'planning' to increase freight rates Due to increase in fuel costs and reduced revenues, says India's Union Minister of Shipping.
Oil recovery system to be marketed in China Chinese market 'now mature' to undertake the maritime passive safety technology, says Chinese firm.
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