Stuttgart airport says welcome back LOT and farewell Qatar Today (5 November) LOT Polish Airlines is launching the second (after Hanover) flight connection to Germany this year. The airline chose the city of Stuttgart, which will be served...
Diageo creates logistics director role for Western Europe The international beverage trust Diageo has created the position of a logistics director for Western Europe. María Andrés Arrizabalaga will take on the post in Madrid, while remain...
Air Baltic appoints Grimme as new CCO The Latvian airline Air Baltic has appointed Michael Grimme as its chief commercial officer. In spring 2012, Grimme became the carrier's senior-vice president sales and marketing. ...
CargoBeamer starts intermodal freight services throughout Europe After a successful trial run CargoBeamer - a handling system for intermodal transport - is now available throughout Europe. The equipment can be used to transfer all trailers to th...
Nippon Cargo to start freight flights to Texas From today (5 November), the Japanese carrier Nippon Cargo Airlines is serving Dallas/Fort Worth airport TX (USA). The cargo service will be the first direct freighter connection b...
Daimler investing more than USD 170 million in Argentina Over the next few years the truck maker Daimler is investing around USD 170 million in its Juan Manuel Fangio location in Buenos Aires. The investment will enable the German compan...
Network Rail launches consultation over reform of rail freight property in UK Network Rail, the owner and operator of the UK's rail network, has launched an industry consultation aimed at reforming the management and ownership of rail freight property. The c...
Raben Group and VR Transpoint cooperating in Poland, Slovakia and Czechia The Finnish service provider VR Transpoint has concluded a cooperation agreement with Raben Group on road transports to Poland, Slovakia and Czechia. The pact took effect 29 Octob...
Fesco Transportation Group announces new Turkey to Novorossiysk container service with direct call at Sochi Fesco Transportation Group, Russia's largest integrated transportation service provider with over 130 years of experience, has taken another step in its expansion into the Black Se...
Rollercoaster results for Panalpina in Q3 Panalpina, a global logistics corporation based in Basel (Switzerland), reported Q3/2012 net sales of CHF 1.721 billion, a 10% increase compared to the CHF 1.508 billion generated ...
Norbert Dentressangle opens new distribution platform in Spain The French service provider Norbert Dentressangle has opened a new, shared-user distribution platform in Seville in Andalusia (Spain). Strategically located in the ZAL Sevilla logi...
Salvors board death ship INDIAN authorities said salvors from SMIT International today boarded a crude tanker involved in a fatal grounding in Chennai
Seadrill, SapuraKencana close $2.9Bn rigs deal SEADRILL and SapuraKencana Petroleum of Malaysia said they have closed a rigs deal worth $2.9Bn
CGGVeritas profits rise 20% SURVEY specialist CGGVeritas today reported a 20% year on year increase in net income to $48M
Brightoil issues warning HONG Kong-listed Brightoil Petroleum has warned of huge losses for the three months ended 30 September
SMM profits slump 48% SEMBCORP Marine said today profits for 3Q12 dropped 48% year on year on the back of lower revenues
GES trebles profits GREAT Eastern Shipping, India's largest private shipowner, said net profits during its July-September quarter trebled year on year
EMS Seven Seas launches share offer EMS SEVEN Seas, the maritime services provider previously known as Eitzen Maritime Services, has launched a share offer
Filipinos to get danger pay FILIPINO seafarers working on vessels transiting high-risk areas are entitled to 'danger pay', according to a circular released by the Philippine Overseas Employment Administration
Schlüssel Reederei buys Harmstorf BREMEN-based Schlüssel Reederei has taken over another ship management company in Hamburg called Reederei Harmstorf in a bid to restore critical economies of scale
Libra continues snapping up VLCCs LIBRA Shipping has bought two 2000-built VLCCs from BW Group at $29M each, as the Greek owner continues to buy bargain-priced VLCCs
TORM signs restructuring - but also cautions TORM, the Danish product tanker and drybulk group, said it today signed a restructuring deal agreed in the autumn - but also warned that more financial trouble could be ahead
Wan Hai profits rise 217% TAIWAN'S Wan Hai Lines has reported a year on year profits leap of 217% for the first nine months of 2012
Strong take-up for LR period charters BROKERS are reporting strong take-up for period charters of LR2 and LR1 products tankers, as spot rates hit a 2012 high on rising naphtha demand
Havila raises 100M kroner from bond HAVILA Shipping, the listed Norwegian offshore service vessel owner, says it has successfully completed the issue of 100M kroner ($17.3M) in three-year unsecured notes
Shipbreaking momentum fades in South Asia THE bubble appears to be bursting for shipbreaking in South Asia, as the impending Diwali celebrations, falling steel prices and rupee fluctuations took their toll on the market last week
SCFI - Shanghai Containerized Freight Index Shanghai export average spot rates for the following trade lanes are among the 15 component trade lanes in the weekly SCFI-Containerized Freight Index,produced by the Shanghai Shipping Exchange and weigh 57.5 percent of the SCFI comprehensive reading. SCFI - SHANGHAI CONTAINER FREIGHT INDEX*Oct. 26: SCFI comprehensive reading of 1,230.14, up...
Drewry Container Rate Benchmark The Hong Kong-Los Angeles benchmark is based on Drewry Shipping Consultants' research and derived from NVOCCs. The rate is in dollars and based on a full 40-foot containerload, excluding terminal-handling charges in Hong Kong. The Oct. 29 average spot market rate from Hong Kong to Los Angeles dipped 7.9 percent or...
ICAP Forward Curve Freight Rates The ICAP forward curve tracks containerized freight rates of swap agreements as settled against the SCFI-Shanghai Containerized Freight Index produced by the Shanghai Shipping Exchange.Derivatives Bid/Ask pricing in U.S. dollars as of Oct. 30 between Shanghai and the following four trade lanes. Data Included: 10/30/2012 U.S. WEST COAST...
ABP gets new ceo Associated British Ports [ABP] - the UK's largest port owner and operator - will see its current chief executive, Peter Jones, retire at the end of March next year ...
Mediterranean slump hurts Asia-Europe box trades This year's lack of a peak season is evident in a 7.7% year-on-year drop in container volumes from Asia to western Mediterranean and North African destinations, ...
Eisbeinessen hangover The 64th Hamburg Ship's Agent Association Eisbeinessen took place in the halls of the city's Congress Centrum last Friday attended by more than 5,000 international ...
PNYNJ on its way back after Sandy The Port of New York & New Jersey [PNYNJ] is returning to some semblance of normality after last Monday's superstorm caused a four foot surge tide of water ...
Panalpina sees 'light and shadow' That was the comment of Panalpina ceo, Monika Ribar, to its third quarter results. She explained: 'On the one hand, ocean freight continued with historic record ...
Rotterdam box throughput dips Unsurprisingly - given the eurozone crisis - the number of containers processed at the Port of Rotterdam declined in the first nine months of the year, ...
Downturn dings Danaos Aggressive expansion of Danaos' containership fleet appears to have taken a toll on its bottom line in the third quarter.
True North explores S&P A fledgling Connecticut tanker brokerage appears to be nearing the next phase its crusade to become a leader in the maritime arena.
CNOOC dodges downgrade China National Offshore Oil Corp's billion-dollar acquisition of a stake in an Australian LNG project has been met by mixed reactions from analysts at Moody's Investors Services.
Uncertainty plagues TI A leading VLCC pool is on the fringe of losing another tanker if Euronav continues with a campaign to part with vintage tonnage.
Jinhai sheds resale Jinhai Heavy Industries of China appears to have parted with a prompt capesize resale in a transaction that reflects the continued decline in bulker values.
Havila seals funding Norway's Havila Shipping has tied up its latest NOK 100m ($17.39m) bond sale as it refinances debt.
Tanker Pac cans VL Ofer-controlled Tanker Pacific is the third owner to scrap a VLCC in just two weeks.
Hanjin Shipping loses less Korean boxship and bulker owner Hanjin Shipping said its third-quarter loss had narrowed as rates improved.
STX seals cruise order Germany's TUI Cruises has tied up an order for a second cruiseship at STX in Finland.
Cauvery held over deaths The family of one of the six crew who died in the grounding of Pratibha Cauvery has started legal action in Chennai, India.
Nokta sees product promise A post hurricane Sandy spike in Atlantic basin product tanker rates has set the scene for a strong run in the sector, Dahlman Rose believes.
FMH buys yard stake Malaysia's Freight Management Holdings (FMH) is buying a 25% stake in a new Thai shiprepair yard.
London Club aims high The highest general increase so far announced has been set by the London Steam-Ship Owners' Mutual Insurance Association.
SembCorp slips in third SembCorp Marine's third quarter profit has been sliced in half in half as revenue fell away.
Bonaparte sinks further The holed SNCM ferry Napoleon Bonaparte has sunk another metre at the port of Marseille in France.
Cosco Corp lifted OCBC has upgraded Cosco Corp (Singapore) four months after slapping a sell tag on the Chinese outfit.
Batista luring Petrobras? Brazilian billionaire Eike Batista is reportedly in talks with Petrobras for the use of his new Acu port.
K Line under scrutiny Ratings agency Standard & Poor's (S&P) has put Japanese shipowner Kawasaki Kisen Kaisha (K Line) on negative credit-watch as it questioned its prospects for a financial recovery.
Big John's big rig deal John Fredriksen's Seadrill is merging its tender rig business with SapuraKencana Petroleum in a near $3bn package.
Eimskip sells out Icelandic container line Eimskip's public share sale was over-subscribed more than fivefold as its IPO was completed on Friday.
Is 2013 unlucky for Torm? Having just killed one chronic financial headache Torm warns another could crop up as soon as next year.
Uni-Wagon eyes new route Uni-Wagon Marine of Taiwan is considering launching a coastal route with its new Japanese ferry acquisition.
N&P in magic pipe fine Germany's Nimmrich & Prahm (N&P) has been fined $1.2m after admitting concealing oil dumping from a cargoship off the US.
Amurskaya "located" Divers are expected to start checking an object found on the seabed off Russia as the search for the missing cargoship Amurskaya continues.
Mercuria seals new funds Mercuria has secured a $700m uncommitted secured eighteen months borrowing base financing, the oil trader has confirmed.
Strong start for CHO CH Offshore has reported a strong start to its new fiscal year with a 43.3% jump in first quarter net profits.
Brightoil set for loss Brightoil Petroleum has warned shareholders that it is likely to report a "significant loss" for the next quarter.
Waiver drives up rates The US government's decision to issue a temporary blanket waiver of the US Jones Act has sent rates for MR tankers skyrocketing.
TTA linked to Mimosa Thoresen Thai Agencies is being linked to the purchase of a modern Japanese-owned handymax bulker, according to brokers.
PSL sees 3% fleet growth Precious boss Khalid Hashim has forecast that there will only be a 3% growth in the bulker fleet next year.
Hanjin earns $87 million profit in 3Q The container line said Monday it made $87.1 million in liner operating profits in the third quarter, a major swing from the $144 million it lost during the same period in 2011. Liner revenue in the third quarter was $2.2 billion.
Logistics relief helps Sandy survivors
BNSF's Lanigan to retire John Lanigan, executive vice president and chief marketing officer for BNSF Railway, will retire on Jan. 15 and be succeeded by Steve Bobb, vice president of coal, the company announced Friday.
Jones Act waived for tankers after Sandy The federal government issued issued a temporary blanket waiver of the Jones Act to immediately allow additional oil tankers from the Gulf of Mexico to deliver product from the Gulf of Mexico to Northeastern ports.
C.H. Robinson takes ownership of Phoenix International
CARB sets stricter reefer trucking standards The regulations will require that any brokers, freight forwarders, shippers, and receivers to hire, or contract with, only carriers compliant with CARB's regulations on emissions from reefer boxes.
New member for Exhaust Gas Cleaning Systems Association Norway-based Green Tech Marine 'has aimed to develop the world's most compact scrubber'.
Prices move downward in Fujairah Bunker prices losing ground across continent.
Big falls in bunker prices seen across Europe Falling crude values lead the way to softer bunkers.
Rotterdam to study impact of ships' wash Improving safety of loading and unloading vessels will be focus of research.
Arrested navy ship refused bunkers Vessel caught in row between US hedge fund and Argentine government.
Iran sees 'average' bunker sales National Iranian Oil Products Distribution Company reports total marine fuel sales of 850,000 in the six months to September 21.
Greek shipping companies agree tax deal Financial crisis has put spotlight on industry's tax affairs.
Is it right to penalise a ship for sulphur violations - discovered through testing a ship tank sample - if the BDN shows the fuel as being within sulphur limits?
Week opens with lower bunker prices Significant drops in Singapore and Hong Kong.
Torm completes restructuring Torm to resume full focus on daily operations, says chairman.
Impact of scrubber byproduct 'not clear' Industry needs to address proper discharge of scrubbers byproduct, key players say.
Bank reiterates buy rating for New York-listed firm Fuel savings on newbuildings 'double our expectations', says Dahlman Rose analyst.
Brightoil issues profit warning Depressed shipping industry and decreasing bunker demand have impacted its businesses, says company.
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