HSBC sells its shipping services division Bank says its still committed to shipping
US sanctions: who stands to lose out on Iran trade? New measures from Washington could bring more than just oil trades with Iran to a halt
BP tanker fixtures rise 15% this year Indian refinery helps to boost tanker charters
Pyxis confirms tanker order Deal for single MR2 vessel was struck months ago but surfaces now
Cheniere achieves final investment decision Cheniere inches towards final approval for planned Sabine Pass liquefaction trains
Offshore vessel opportunities as the Chinese buy into the North Sea New interest in region will boost activity for offshore support vessels
Global boxship fleet still growing With 5,062 vessels active on liner trades, data reveals the top 20 carriers control 85% of the 16.2m teu total
Seaspan foregoes $267m undrawn loan Decision reflects strategic expediency, say top executives
Seaspan narrows its second-quarter loss to $6.7m Independent charter owner boosts normalised earnings in second quarter
Spot market activity slumps for 15-year-old VLCCs Older tankers' share of fixtures falls from 23% in 2009 to 12% so far this year
Scorpio says benchmark product tanker routes do not show real story New triangulation trade patterns mean product tankers earn more than investors and analysts think
German banks finance KG vessel sales Hamburg financing company AHS buys Clou Ocean at discount price
Sami forces all members to apply for accreditation Only 10% have passed through stage one of programme
Sanko Mineral poised to sail free from Baltimore after three-month stay Liquimar, Knightsbridge, WBC and cargo interests agree to drop proceedings
Atlantic supramax cargoes postponed after strike in Argentina Spot market rates remain stable, though
BHP Billiton could downsize expansion of Port Hedland Weak iron ore market is leading miner to reconsider capital expenditure
Lower charter rates clip Diana Shipping's earnings Cash-rich owner takes steep rate cut on two new panamax charters
MarAd rejects APT Title XI application Blackstone arm assessing possibilities of asking for another review
Uni-Tankers claims smaller tanker markets is looking buoyant Danish tanker owner on the acquisition trail
Better sentencing It is time for a uniform approach to sentencing pirates
Crowley Liner Services agrees $17m criminal fine in Puerto Rico price-fixing case Total fines collected by Washington increase to $46m
OOCL buys equipment for Long Beach Cranes worth $346.6m contracted for leased terminals in California
Pirates free seven Albedo crew for $1.2m pay-out Confusion surrounds the fate of 14 seafarers said to remain captive in Somalia
Pacific Basin eyes joint venture to execute ro-ro exit Berglund seeks quick get-away from loss-making unit
Tung warns of weak peak as rate recovery slows Idle ship numbers down despite uncertain prospects
Scrap and build is the way forward In a vastly overtonnaged market, systemised scrapping is the way forward
Feeling peaky? Sluggish global economy dims prospects for high-season box demand
RBS nationalisation would harm ship finance, say experts Financiers debate whether Commerzbank ship finance exit sets a precedent
SinOceanic board worried about GCL connection Common shareholder could pose asset arrest problems for boxship tonnage provider
MARAD denies APT bid MARAD administrator David Matsuda has rejected APT's application for Title XI loan guarantees, shortly after APT took the US government to court
Delhi to back insurance for Iran's tankers INDIAN maritime insurers will offer government-backed insurance to Iranian tankers to help resume oil trade with Tehran despite international sanctions, IHS World Markets Energy reported today
Rate fall weighs on Diana SIMEON Palios-led Diana Shipping today reported falling profits and more charters rolling over to lower rates, counterbalanced by a growing cash position
Profits drop 13% at COSCO's yard unit COSCO Corp (Singapore) said net profits fell by 13.3% to S$27.6M ($22M) in the second quarter ended 30 June
NY&NJ joins ship fuel incentive push VESSELS that cut air emissions will receive financial incentives from the Port Authority of New York & New Jersey
Rosneft swings to losses RUSSIA'S government-owned oil giant Rosneft said it had swung to net losses of 8Bn rubles ($247.8M) in Q2
Genco scores debt relief NYSE-listed Genco has obtained a crucial agreement from lenders to push back amortisation payments and extend covenant waivers
OOCL profits drop by 70% HONG Kong-listed Orient Overseas International Ltd today posted $43M in profits for its box subsidiary OOCL, a 70% drop from the same period last year
Seaspan beats Street GERRY Wang-led Seaspan has reported higher adjusted profits and the finalisation of a Chinese loan to support its newbuilding programme
Knight chaos rattles market ELECTRONIC trader Knight Capital, which has significant ties to shipping, was hit yesterday by a severe technical glitch that might have affected NYSE-listed NAT and has now forced Knight to "actively pursue" alternatives
Trans-Pacific box rise starts THE 3% week-on-week increase in Hong Kong/Los Angeles box rates suggests that liners' proposed rise of $500 per feu has had only limited success, a report said today
Strikers disrupt Bahia Blanca in Argentina A STRIKE continued today at Bahia Blanca's port in Argentina, ISS said
Hanjin slashes losses HANJIN Shipping posted 1.2Bn won ($1.06M) in losses for 2Q12, down from 274Bn won in losses in the same period a year ago and 338.4Bn won in losses in 1Q12
VLCC period fixtures rise BROKERS are reporting greater interest in VLCC period booking, with the spot market plunging deeper into negative territory
Chinese Goliaths get cosy ANSWERING Beijing's call to co-operate in tough times, China State Shipbuilding Corp and China State Construction Engineering Corp have agreed to work closer
Horizon Lines Posts Second Quarter Net Loss Horizon Lines reported a $29.8 million net loss for the second quarter but the U.S. domestic ocean carrier's operating results...
Matson Sees Rise in Operating Income for Quarter Matson Inc. said its second quarter operating income rose while net income was hurt by charges from discontinued operations and...
US Intermodal Volume Hit Record in July U.S. intermodal traffic on the major railroads in July rose 5.6 percent year-over-year, hitting a record high for the month,...
UASC's Vitarana Discusses Trade Outlook Between US, India, Middle East (Video) In an interview on the bridge of the UASC container ship Al Sabahia, which was loading and unloading containers at...
Genesee & Wyoming Profit Jumps Despite Volume Drop Genesee & Wyoming profit jumped 17 percent year-over-year to $36.4 million, as higher fuel surcharges and improved operations helped the...
LA Port's Pollution-Reduction Strategy Pays Off Harmful emissions from port operations in Los Angeles have declined as much as 76 percent over the past seven years...
Crowley Pleads Guilty to Puerto Rico Price-Fixing Crowley Liner Services pleaded guilty and was sentenced to pay a $17 million criminal fine for conspiring with other carriers...
Maersk Line Ltd. Acquires US Ship Operator Maersk Line Ltd. acquired 3PSC, a privately held ship operator based in Cape Canaveral, Fla. Terms of the acquisition...
Shippers, Railroads Pitch Dispute-Resolution Ideas Major North American railroads and shippers say they support more federally sponsored arbitration, but the carriers can't get onboard with...
OCU-Management Talks Continue on West Coast In a welcome sign of cooperation, office clerical workers and waterfront employers in Southern California met through the day on...
US Opposition to EU Airline Carbon Tax Builds U.S. pressure to reject the European Union's carbon tax on international airlines is mounting, with committees in both chambers of...
Global Air Cargo Grows on Middle East Strength International air cargo traffic increased 1.1 percent in June from a year ago, driven by strong growth in the Middle...
ODFL Profit Rises 21.5 Percent to $48 Million The slowing economy wasn't a drag on Old Dominion Freight Line in the second quarter. Revenue jumped 12.8...
Japan Airlines Net Profit Soars Despite Weak Cargo Numbers Japan Airlines said on Thursday that its net profit soared 111.2 percent in the first quarter of fiscal 2012, which...
Spot Rates Rebound in Asia-Europe Container Trade Spot rates in the Asia-Europe trade rebounded this week after three consecutive weeks of decline as carrier efforts to reduce...
CEVA Reports Lower Profit CEVA Logistics said its adjusted earnings before interest, taxes, depreciation and amortization fell 13.6 percent to 70 million euros ($85...
Auto Emissions Parts Trade Revs Up The global trade in auto parts is getting a fuel injection as a result of the growing market for exhaust...
Seaspan Reports Improved Results Container ship owner-charterer Seaspan Corp. said its net loss narrowed and adjusted net earnings rose amid nearly full vessel utilization...
Tropical Shipping Posts Loss Caribbean carrier Tropical Shipping posted a $4 million operating loss on $80 million in revenue despite an increase in container...
Court Dismisses ABF Lawsuit Against Teamsters, YRC A federal judge dismissed a lawsuit that challenged three rounds of labor concessions at YRC Worldwide by claiming the Teamsters...
Sept. 1 MSC Rate Hike Is Second in a Month Mediterranean Shipping Co. said Thursday that the general rate increase it plans to implement on eastbound trans-Pacific cargo from...
Deutsche Post DHL Lifts Earnings Forecast Deutsche Post DHL lifted its 2012 earnings guidance after strong demand for its express delivery services in Asia boosted its...
First Half Profit Fell 26 Percent at OOCL Parent Orient Overseas Container Line's parent company reported a 26 percent drop in operating profit during the year's first half and...
Lufthansa Cargo Profit Slumps 60 Percent Lufthansa Cargo's operating profit slumped nearly 60 percent in the second quarter to 28 million euros ($34.4 million) from 69...
Charter Revenue Doubles at Shipowner Box Ships Greek container shipowner Box Ships Inc. more than doubled second quarter charter revenue to $15.44 million from $7.22 million a...
ILA, USMX Committees to Meet The International Longshoremen's Association and United States Maritime Alliance will hold meetings this month by ILA-USMX committees assigned specific issues...
Hanjin to Resume Service to Portland Convinced that labor productivity at the Port of Portland has returned to normal, Hanjin Shipping will resume making ship calls...
Asciano invests to improve its Melbourne terminal Asciano, which owns Patrick, one of Australia's largest terminal managers/stevedores, is in the midst of a major capital expansion and productivity enhance programme ...
Hanjin posts stronger results for H1 as box volumes jump Hanjin has seen its container division results pick up for both the second quarter and for the first half of this year on the back of a rate recovery and higher ...
Operating profit slides at CEVA A combination of the harsher economic climate and declining levels of consumer confidence, especially in Europe, contributed to a sharp fall in profits at the supply ...
ICS wants IMO to adjust BWM mandate The International Chamber of Shipping is putting pressure on the International Maritime Organization (IMO) to be more flexible in implementing its 2004 Ballast ...
DHL doubles up its Shanghai-Dubai LCL link DHL Global Forwarding (DHL GF) has started a second weekly LCL service between Shanghai and Dubai while also extending its coverage to Kuwait and Qatar. The move ...
Transpac GRI 'fails' to take effect
OOCL still steaming in the black OOCL, the container arm of Hong Kong-listed Orient Overseas [International] Ltd [OOIL], continued to outperform most of its rivals in the first six months of the ...
APM T signs Lazaro Cardenas concession agreement Competition is set to increase in Mexico's west coast port of Lazaro Cardenas with APM Terminals (APM T) now confirmed as the new operator of container-handling ...
Bigger boxships assist growth at DPW Larger ships now being deployed on a number of trade lanes contributed to the 7.5% growth in containers handled by DP World in the first ...
HSBC hives off shipbroking The HSBC banking group is to sell HSBC Shipping Services to a management buy out team.
Deutsche downs DryShips
Knight falls on its sword
PB 'In the zone' New Pacific Basin boss Mats Berglund says the shipowner is now in the zone when it comes to expanding its bulker fleet.
Smit Lamnalco pens four Smit Lamnalco has ordered four new tugs to cover its recently signed contract with the ExxonMobil-led Papua New Guinea LNG project.
Diana two tied up Ultrabulk takes a pair of Diana panamaxes for two years at lower rates for the NYSE-quoted owner.
Diana profit dented Falling dry-cargo rates have taken their toll on the second quarter profit of Diana Shipping.
Semb Marine steady in Q2 Sembcorp Marine reported steady profit for the second quarter despite sales jumping by nearly half.
BHP cans rumour BHP Billiton has poured cold water on claims it is scaling back its expansion plans at the key iron ore port of Port Hedland.
MMHE still down Malaysia Marine & Heavy Engineering (MMHE) has once again seen a big drop in earnings despite its marine division posting stellar results.
Hornbeck misses mark A vastly improved showing from its offshore fleet could not pull Hornbeck up to Wall Street's expectations in the second quarter.
Seaspan funds trio Seaspan Corp has tapped a Chinese bank to help it pay for three giant newbuildings on order at Yangzijiang Shipbuilding.
Boskalis enters India Royal Boskalis Westminster has scooped a major dredging contract for India's largest container port.
MarAd rejects tanker loan A simmering battle over American Petroleum Tankers (APT) bid for a US government $340m loan guarantee is set to flare up after the application was rejected.
Seaspan short in Q2 Seaspan has seen its second quarter numbers come up short of expectations.
STX in FSO score STX Offshore & Shipbuilding is in line for an FSO order from a North American client, local media reports.
Hanjin slashes losses South Korea's Hanjin Shipping has narrowly missed on a return to profit in the second quarter of 2012.
Ezion builds LNG backlog Ezion Holdings continues to build on its success in Australia with a fourth contract from the local LNG industry since 2009.
Costs dog OOCL interims OOCL parent company OOIL has seen interim profits slide by one third as it faced higher costs during the last six months.
Box Ships revenues jump Box Ships, the Michael Bodouroglou-led containership owner, has seen revenues more than double compared to a year ago.
Genco stays in the red Genco Shipping & Trading has booked a second quarter loss, but said its lenders agreed to relax some provisions under its credit facilities.
ILA, USMX to resume contract talks Aug. 22-24 James McNamara, the ILA's spokesman, said the union remains optimistic about reaching an agreement following last month's agreement between the union and management on issues involving automation and chassis.
Port of NY/NJ to reward 'clean ship' operators The port authority anticipates about 600 vessels a year will participate in the CVI program, and it will yield annual emission reductions of 182.2 tons of nitrogen oxide, 38.3 tons of particulate matter, and 264.1 tons of sulfur dioxides.
MarAd denies Title XI guarantee to APT
Drewry cautions TP rate hikes won't stick
OOIL 1H profit recedes Orient Overseas (International) Ltd., the Hong Kong-based parent of liner carrier OOCL, said Thursday its operating profit fell 25.5 percent year-on-year in the first half of 2012 to $140 million.
Mojix adds RFID to automotive supply chains
Xata sees software gains, revenue holds still
Hanjin reduces losses in 1H
German lines slow joint Mideast loop
Ryder buys small U.K. truck leasing outfit
Senators urge ILWU clerks, employers to reach deal
Wozniak appointed Columbus McKinnon VP
CORRECTION: Nordana's U.S. East Coast-West Africa service continues
USDA helps release ag shipments overseas
Ex-Im Bank expands in Minneapolis Since fiscal year 2007 through July 26, 2012, the bank has authorized about $710 million to Minnesota businesses to support $1.4 billion in export sales.
U.S. industry welcomes 'Cairo Declaration'
ITC: Dominican apparel not benefiting from U.S. trade program
Market firm in Fujairah Prices move up single digits in the Middle Eastern bunker hub.
Prices lack direction in major European ports Bunker prices hesitate to demonstrate any clear direction.
Mauritius supplier invests in extending pipeline network New barge can 'bunker beyond port limit'.
Maersk releases latest surcharge figures Ten dollars added to most routes.
Fuel oil stocks climb But shortage of on-spec product remains.
Shipping consultancy sold to management Sale to be complete in fourth quarter.
Fuel oil arbitrage East Asia to climb by 46% month-on-month But bunker avails expected to remain tight
Environmentalists open attack on cruise industry 'Unfortunately, there are still some holdouts trying to weaken or delay the ECA.'
'Flexible' WFS tightens grip on credit Company prepared to 'walk away from a lot of business'.
Asian bunker prices at regional hubs buck Singapore trend Supplies of marine fuels fine at key Asian ports on Thursday.
US marine services firm in $50 million acquisition Acquisition of Chemring Marine 'perfect fit' with Drew Marine's strategy, says CEO.
South China monthly fuel oil imports fall in July Imports down 36% but levels are expected to improve in August.
Typhoon hits bunkering ops in Taiwan Ports closed and cargo operations suspended due to severe weather conditions.
FAL gets new manager as restructuring talks rumble on Appointment made at a time when creditors are expected to reject the trader's restructuring proposal.
Chimbusco branch meets first half sales target Target met despite 'increasingly fierce domestic competition', it says.
OOIL posts 33% decline in H1 profit Positive operating margin at its box unit 'adversely impacted' by the 'unexpected' increase in bunker fuel, it says.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
