S'pore a heavyweight in Asian superyatch sector SINGAPORE is one of the heavyweights in the Asian superyacht industry, commanding about US$45 million of what is estimated to be a US$345 million a year market.
Panamax rates surge on expected China demand Hire rates for Panamaxes, the biggest commodity carrying ships to navigate the Panama Canal, jumped the most in more than 21/2 years on speculation demand is strengthening in China.
New investment to modernise Serbia's railways The European Bank for Reconstruction and development (EBRD) is continuing to support the modernisation of Serbia's transport infrastructure and promote further reform of the rail s...
Railway industry training centre opened near Calais Groupe Eurotunnel has opened the new Centre International de formation ferroviaire de la Côte d'Opale (CIFFCO1), at Coquelles in the Pas-de-Calais (France). CIFFCO is a Groupe Euro...
Rolling motorway on the Gotthard: decision due this year Switzerland's Federal Roads Office (Fedro) has taken a closer look at the opportunities for a truck on train service for part of the Gotthard route. The Gotthard tunnel is to be re...
Gefco and Chevrolet sign transport contract The French transport service provider Gefco and US car maker Chevrolet have signed a new contract. Under the latest arrangement, Gefco will provide finished vehicle logistics for o...
G6 Alliance to start activities in March - one month ahead of schedule Members of the new G6 Alliance have announced that their Asia-Europe container shipping cooperation will begin in the first week of March - one month ahead of schedule. The new All...
Latin American Terminals with new managing director Joe Nielsen has been named managing director of Latin American Terminals, based in Panama. In his last position he was the CFO for APM Terminals' activities in the Americas region....
Containerships calling at Pori Helsinki-based Containerships will add the Finnish port of Pori to its shortsea network, with effect from March. The new service will consist of a weekly sailing from Pori to Sode...
JAL and IAG take first step towards intended joint business between Japan and Europe Japan Airlines (JAL) has just submitted its application to the Japanese Ministry of Land, Infrastructure, Transport and Tourism (MLIT) seeking antitrust immunity to cooperate with ...
AF KLM Cargo sees difficult start to 2012 Air France KLM Cargo recorded a sharp drop in traffic (-10.3%) to 801 million RTK in January. The decline is linked to the weak economy and the timing of the Chinese New Year. A 6...
Zufall Logistics Group expanding With effect from 1 March 2012, Friedrich Zufall GmbH & Co, a Night Star partner, is taking over the region around Dortmund and Hagen (both Germany) which was formerly served by...
Logwin operating web shop for Apollo-Optik Logwin, a global logistics service provider based in Grevenmacher (Luxembourg), recently began managing a web shop for its customer Apollo-Optik. Around 4,000 of the optician's emp...
Brazil privatising airports Brazil has taken on private companies to modernise the country's airports. The contract for Brazil's largest airport, Guarulhos in São Paulo, has been awarded to a group of firms a...
Will Evergreen prove its critics wrong? Taiwanese line has split from the pack by refusing to order ultra-large tonnage
Know your bank It's good practice in a tough market for credit to understand the pressures that lenders face
Build it and they will come Cuba plans 1m teu port at Mariel
LNG demand to test the limits of vessel supply The liquefied natural gas fleet stands at just over 370 active ships, but about 80% are dedicated to long-term charters
St Croix refinery closure opens doors for product tankers The loss of Caribbean facility means US will now need to source refined oil products across greater distances
Canada grants Kitimat a licence to export LNG to Asia National Energy Board green light opens up opportunities for vessels to ship liquefied natural gas across the Pacific from British Columbia
Sanmar steadies the ship for product tankers on the transatlantic trade Fall in rates looks set to halt as brokers forecast steady week ahead on the TC2
Pertamina splashes out on new VLGC Purchase price more than $6m above market levels for newbuildings
Glencore and Xstrata behemoth set to shape dry bulk charters $90bn merged company spans production, trading and tonnage
Zim denies 'fighting for life'claim Carrier rejects the claim that a cash injection has been withheld
TSA box lines to launch emergency rate rises Transpacific Stabilization Agreement members plan to each raise freight rates by $300 per feu starting from March on top of the $400 per feu introduced on January 1
Chinese ore demand boosts South Africa dry bulk exports Growth is concentrated at Saldanha Bay
Greek crisis drives youth to sea Number of cadet candidacies soar despite difficult times for shipping, says shipowners' leader
Argentina has billions of barrels of shale oil Global status quo to be rocked after nation's potential reserves are revised up from around 1bn barrels to 22.8bn
Buyer beware Private equity cannot save everybody
China imports 20% less crude from Middle East Gulf in January Asian giant turns to Libya, West Africa and South America
Supramax rates recovery begins in Asia Brokers uncertain bottom has been reached in the Atlantic
Car carriers well-placed to weather double-dip recession, says Drewry Small orderbook will stand sector in good stead
Japan to import more wheat Government plans to cut prices up to 10% will boost small bulk markets
Costa Concordia insurance cover could be void 'Peculiar circumstances' of casualty raise prospect of denial of coverage and liability shifting
JF Lehman to buy Seacor oil-spill response firms Deepwater Horizon money-makers sell for $97m
Wilhelmshaven windfarm win is a blow to rival ports Mystery Chinese backer and Rhenus Midgard will handle offshore parts
Zim fights back Israeli reports that Zim was fighting for its life for the lack of a $100m cash injection from its parent Israel Corp would seem off the mark
Salvage expert slams 'ridiculous' bid deadlines to move Costa Concordia Complex process needs time, says Reinigert
Expansion lifts CSIC profits Shanghai-listed unit bought four parent company shipyards
Tokyo MOU inspections find problems with cargo hatch openings Three-month campaign detains 346 vessels
Vale's Subic Bay hub to open next week Move follows China ban on Valemax vessels
Bondholders challenge General Maritime Chapter 11 reorganisation Questions over April exit from bankruptcy as Georgiopoulos is called to testify
DNB halves dividend to boost capital reserves Move follows heavy provisions to shipping and corporate loans
PNG ships seized in sinking PROTESTERS in Papua New Guinea's Buka have seized three Rabaul Shipping vessels to press demands for compensation for those killed in the sinking of its ferry Rabaul Queen, IHS Global Insight reported today
TSA seeks new rate jump THE TSA said today it is seeking a second rate increase in six months in the Asia/US box trades
SEACOR sells its spill response units SEACOR Holdings has agreed to sell three of its spill response companies to private equity firm JF Lehman for $97M
Platou sees darkness before shipping's dawn SHIPPING markets should start to turn for the better late in 2012, a Platou Markets report said - but they will deteriorate further before turning round
Maersk Tankers halts calls at Iran's ports MAERSK Tankers, the unit of Danish shipping giant AP M'ller-Maersk, has terminated new business with Iran, a spokesman for the parent group confirmed to Fairplay today
Grand China woes persist GERMANY's Oldendorff Carriers is the latest plaintiff to pursue a US claim against embattled Grand China, court documents revealed
RasGas, KOGAS sign 2M t/y deal QATAR'S Ras Laffan Liquefied Natural Gas has reportedly signed a deal to supply 2M tonnes of gas per year to KOGAS
Wind blamed for casualties A COSCO bulker reportedly collided with a tanker in howling winds early today in the wintry Black Sea, 10 miles off Novorossiysk
Write-offs hit Rio profits MINING giant Rio Tinto today reported a plunge in annual net profits after it was hit by a whopping impairment charge tied to its aluminium business
85% VLOC surge warned DELIVERIES of very large ore carriers are likely to surge 85% year on year in 2012, an analysis has predicted
Alliances pressure Maersk MAERSK'S plans for box sector consolidation have been largely frustrated by the organisation of major liners into alliances, a key shipping analyst said today
Danube shipping frozen FOUR BALKAN countries has suspended Danube River shipping, as ice continued today to make Europe's prime commercial waterway impossible to traverse
35% tanker slippage seen TANKER slippage could hit 35% this year, with brokerage McQuilling & Partners forecasting that 228 tankers would be delivered this year
CSD's shares dive HONG KONG-listed shares of China Shipping Development closed today 3.11% lower at HK$6.23 ($0.80), after securities firm UOB Kay Hian urged investors to dump the stock
Skaugen weighs new $63M bond issue IM SKAUGEN, the listed Oslo LNG and lighterage tanker operator, said today it is considering issuance of at least 300M kroner ($63M) worth of in three-year bonds
Negotiations Stall During WTO Development Round Negotiations have stalled in The World Trade Organization's Doha Development Round, the latest round of trade negotiations, and the National...
Intermodal Rail Shipments Rise 16.8 Percent Intermodal freight shipments moved by U.S. railroads jumped 16.8 percent year-over-year in the week ending Feb. 4, as steady freight...
Analyst Doubts Rapid Impact of Asia-Europe Rate Increases Vessel layups and new shipping alliances will help push up container shipping freight rates in coming months but many operators...
Eastbound Trans-Pacific Carriers Seek $800 in Rate Increases Trying to maintain pricing momentum in the trans-Pacific, shipping lines that carry U.S. imports from Asia announced two proposed rate...
USPS Loses $3.3 Billion in First Quarter The U.S. Postal Service fell deeper into a financial hole in its fiscal first quarter, losing $3.3 billion forecasting "large...
Lufthansa Cargo to End Diverted Flights to Cologne Lufthansa Cargo said it will stop diverting freighters to Cologne Airport to avoid a night flight ban at its Frankfurt...
OHL to Pay $1 Million Cargo Security Violation Fine A Tennessee air forwarder agreed to pay a $1 million fine to settle charges of violating air cargo security regulations...
MIQ Logistics Expands LCL, Consolidation Services MIQ Logistics is expanding its less-than-containerload consolidation service, offering weekly LCL service from Istanbul, Turkey, to New York. The...
Baltimore Container, Auto Volumes Set Records The Port of Baltimore handled a record-number of containers and automobiles in 2011, as both cargos surpassed levels set before...
Maersk to Launch Middle East-West Mediterranean Service Maersk Line will launch a container service between the Middle East and West Mediterranean, starting at the end of this...
Lufthansa Cargo Tonnage Slumps 11.4 Percent Lufthansa Cargo's freight traffic tumbled 11.4 percent in January from a year ago amid a weakening global economy that threatens...
Roadrunner Profit Soars Eight-Fold in 2011 Roadrunner Transportation Services increased its net profit 77 percent in the fourth quarter to $6.9 million as revenue jumped 43.6...
MSC's Golden Gate Service Adds Savannah Call Mediterranean Shipping Company is adding Savannah to its weekly Golden Gate Service between the East Coast and Asia via the...
Car Carriers Rebound on Auto Industry Recovery The rise in the global auto trade is lifting the car carrier industry out of the global recession with far...
Kerry Expands Thailand Port Operations Hong Kong-based Kerry Logistics, in the midst of a broad expansion of its Asia network, says it expects to complete...
Asia-Europe Spot Rate Index Inches Upward An index of spot freight rates for Asia-to-Europe container shipments inched up 0.1 percent this week, showing new strength in...
LA-LB Aim to Combat Slow Turn Times at Ports The executive directors of the nation's two largest container ports intend to address one of their most vexing and embarrassing...
Keller named president of Sea Star Industry veteran Peter Keller is the new president of US/Puerto Rico ocean services company Sea Star Line.Having worked closely with the group as a consultant and ...
SAMEL and Bahrain Logistic Zone sign MoU SAMEL, which is a logistics group that specialises in the distribution of bulk chemical materials such as polyethylene, polypropylene, catalysts and additives ...
African nations agree new pact to fight Somalian piracy The governments of Tanzania, Mozambique and South Africa have signed a new multilateral pact that is designed to reinforce maritime security in the Indian Ocean ...
Maersk devolves more authority to coalface Maersk wants regional offices to have more authority when deciding how best to address public/press enquiries. Speaking after the unveiling of a new corporate movie ...
ICS demands progress in piracy fight from UK-hosted Somalia conference The International Chamber of Shipping [ICS] has welcomed the prospect of further advances in the fight against piracy offered by the London-hosted Somalia international ...
IAS to launch new business intelligence software California, Oakland-headquartered web-based intermodal applications provider, International Asset Systems (IAS), is already planning on developing and adding new ...
Carriers ramp up global GRIs With attention diverted to the Asia - Europe tradelane's massive hikes slated for March 1, ocean carriers are busy revaluating other services for freight rate increase ...
European freeze 'to last until end of Feb', as Hamburg tugs add ice surcharge The worst February cold spell to hit Europe in almost 30-years could last until the end of the month say leading meteorologists - spiking fuel prices and restricting ...
Bunker price nearing USD700 Rotterdam-sourced IFO 380 closed just shy of USD700 per tonne yesterday, after rising by USD25 since Monday, prompting ocean carriers to implement or introduce ...
Med ports report lacklustre growth As in northern Europe, Western Mediterranean gateway ports struggled with cargo growth last year, reflecting the region's major sovereign debt problems. Spain's ...
SHIP sheds African Zebra Dale Ploughman in the driver's seat as US-listed bulker owner parts ways with ageing handymax at a loss of $2.4m.
Ivar Lundh targets expansion Swedish shipbroker celebrates centennial by spinning off management wing in a bid to cash in on chemical tanker upswing.
Chandris torches tanker Diversified Greek shipowner poised to make $8m as 1995-built vessel sails to beaches of Alang.
Grand China feuds ignite Norden and Oldendorff join fight to claw back cash from embattled Asian operator as judge orders asset freeze.
Hijack sends FREE spinning Nasdaq-listed owner sees market value drop by close to one tenth after one of its handies is snatched by Somali pirates.
Business the Maersk way Eighteen months off his centenary Maersk Mc-Kinney Moller speaks of the philosophy behind success as a shipowner and entrepreneur.
Maersk cuts ship spending AP Moller reveals more modest spending plans for its tanker and boxship arms as it battles cash burn.
EMGS pulls in record profit Oslo-listed seismic owner roars back from big deficit last year to card a personal best.
Toei sees rates thaw Japanese reefer owner expecting profitable fourth quarter despite nine-month losses widening.
Freeseas bulker hijacked Nasdaq-listed owner sees one of its ships fall into pirate hands.
Bad timing on deliveries January saw the highest number of new VLCCs enter the market since 1975.
EUKOR recognised for sustainable shipping Initiative replaces the European sulphur limit of 0.1% with the international limit of 0.5%.
Missing the point Resistance to developing IMO guidelines for fuel oil sampling procedures may not be doing the industry any favours.
New marine fuel specifications will hit 'older refineries' 'Complying with marine emissions requirements will boost demand for middle distillates at the expense of fuel oil,' says analysts.
Prices mainly firm in North European ports Icy conditions in Hamburg continue to make barge operations difficult.
Prices firm in Middle East hub 180 cSt grade is subject to availability in Suez.
Chinese shipping company to promote gas as bunker fuel China National Petroleum Corporation will help speed up gas supply stations.
Grant for Baltic LNG project Initial phase of project aimed at establishing LNG supply infrastructure receives EU funding.
Fuel oil stocks fall But February arbitrage volumes still on course to be record high.
Navy looks to wind power to cut bunker consumption Towing kites could be in use in a few years' time.
Glencore may de-list Chemoil Industry observers say there may be an intention to de-list the company following this week's share acquisition.
Price of IFOs continue firming at major Asian ports Good avails in key Asian ports on Thursday.
Russia's largest refinery sees 5% increase in output Output in 2011 includes 1.6 million mt of bunker fuel, according to operator Gazprom Neft.
Exhaust monitoring firm joins SEAaT SEAaT 'keen to encourage and support' environmental technology companies, says Secretary General.
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