Seadrill expects daily rig rates of above US$600,000 Seadrill, the world's biggest offshore oil driller by market value, expects rig rates to keep rising for the next 12 months or longer, with daily tariffs for ultra- deepwater rigs rising above US$600,000.
Carnival cuts outlook on Costa wreck Carnival Corp & Plc, the world's largest cruise operator, significantly cut its fiscal year profit and revenue forecast last Friday, citing a deadly disaster in January involving one of its ships.
Pakistan's ship breaking yards a death trap for workers Mehdi Hassan was clinging to a greasy rope, toiling high inside the hull of an oil tanker, when he became another victim of lax safety standards at Pakistan's Gaddani ship breaking yard.
Virgin Atlantic Cargo returns to Chicago Virgin Atlantic will resume a four- flights per week service between Chicago IL (USA) and London Heathrow on 7 May, increasing to daily from 18 May. In preparation for this, Virgin...
Imperial continues restructuring measures Imperial Reederei GmbH has reorganised its inland shipping business following its takeover of Lehnkering's activities in this field. The former Imperial Reederei Group has become t...
Volkswagen Nutzfahrzeuge sees 10.5% increase in sales The German vehicle manufacturer Volkswagen Nutzfahrzeuge succeeded in maintaining last year's increase in deliveries and sent 39,500 light commercial vehicles (+10.5%) to customers...
GB Railfreight now moving petroleum GB Railfreight, one of Britain's largest railfreight haulage companies, has signed a contract with Carless Petroleum. The contract covers the movement of petroleum products from th...
Frankfurt-Hahn airport: new marketing and sales manager Flughafen Frankfurt-Hahn GmbH (Germany) has selected Jan Möller as the airport's new sales and marketing manager. He succeeds Udo Preissner who died unexpectedly last December. M'l...
New Zealand: Kiwi-Rail's freight volumes continue to grow KiwiRail, a New Zealand-based rail service provider, reported that revenue in its core business, rail freight, grew by 11% to over USD 220 million contributing to an overall busin...
Daimler Trucks North America: vehicle lineup GHG14 certified Daimler's US subsidiary, Daimler Trucks North America (DTNA), has been certified by the country's Environmental Protection Agency (EPA) as fully compliant with the new "greenhouse ...
Air Partner strengthening team Air Partner, a provider of private jets and commercial passenger and freight aircraft of all sizes and categories, has boosted the sales department of its German branch office b...
UHC mobile tool improves pharmaceuticals logistics UHC, an alliance of the USA's leading nonprofit academic medical centers, has launched a mobile application for RxLINK, UHC's online analyti...
Senegal's president opens extended Dakar Container Terminal Abdoulaye Wade, president of the Republic of Senegal, recently officially opened the enlarged Dakar Container Terminal. The facility is operated by DP World, which has invested in ...
Hoyer logistics group founds new company in Odessa Hoyer, a Hamburg (Germany)-based global logistics specialist, is augmenting its activities in Eastern Europe by opening its own offices in Odessa (Ukraine). Hoyer offers local clie...
Increasing trade for LPG carriers Owners of LPG carriers can look forward to increasing trade in 2012, despite the uncertain economic environment and the dampening effect of the mild winter in the northern hemisphe...
AirBridgeCargo operates first cross-polar flight The Russian freight-only carrier AirBridgeCargo Airlines has operated its first ever cross-polar flight via the North Pole en route from Chicago IL (USA) to Krasnoyarsk (Russia). T...
Sabena technics and Afriqiyah Airways develop airframe maintenance cooperation The French independent MRO provider Sabena technics is continuing to assist Afriqiyah Airways to ensure a rapid recovery of Libya's air transport sector. Two Afriqiyah Airways A330...
Sanko Steamship seeks respite from cash flow crisis Industry assesses exposure as loss-making Japanese line asks to defer debt repayments
Diverse Sanko charters draw Korea Line parallels Along with a number of Japanese companies, European owners appear to have exposure
Torm rumoured to have sold two more MR tankers Brokers claim another deal has followed last week's reported sale of Torm Lana
Waiting for Cosco State-owned giant and compatriot CSCL are poised for losses
Optimism returns for Asia box lines Carriers position themselves to benefit from general rates hike and economies of scale
Yards slam UK plan to build naval ships abroad South Korea lands MARS tanker contract
Inmarsat loses maritime momentum New sector revenues come from one-off deals
Sea trials for first commercial air lubrication system DK Group fits first system on Danish ship
NYK deploys fleet-wide broadband in fuel-saving drive Improved communications keep crew in touch with loved-ones
Chinese breakers take advantage of hesitancy in Indian subcontinent Demolition rates between China and south Asia close as owners opt for stability in the east
High hopes unable to lift dry bulk secondhand market Korea Line capesize resale could see first market uptick in month
China imports record crude oil volumes in February Preliminary Customs figures show growth in inbound iron ore
Two former bankers join Hartmann group Duo appointed to senior positions with German shipowner
UN transfers convicted pirates from Seychelles to Somalia Different legal systems offer disparate sentencing terms
Penning confirms light dues freeze Industry was hoping for reduction after efficiency gains
Shell signs two LR tankers for one-year charters Reported $12,500 per day rate for both ships
BLT redelivers two chemical tankers to FSL Trust Indonesian tanker operator defaulted on lease payments for three vessels
Nautilus urges London mayor to look into Safmarine cadet death Johnson must clarify responsibilities in a case that highlights mixed jurisdictions says union
Indian Oil takes VLGC for one year amid high demand for LPG Nation drives ahead with plans to be market leader for using gas as automotive fuel
Kingfish to buy 11 MRs from OSX Brazilian tanker operator places $732m order
Sanctions expose EU insurers but will leave Iran unhurt IG says forcing companies to find alternative cover raises wider issues of liability
NZ port protest receives 'worldwide' support Redundancies are still set to go ahead in Auckland following industrial dispute
Foreclosure blues They may be on the rise, but foreclosures are still the last option banks will choose
Ofer joins queue to sue Allied Maritime London and Illinois litigation over charterhire default and unpaid bunkers
Costa Allegra to be sold or scrapped Costa Cruises mulls salvage options for Costa Concordia
Evergreen to collaborate with CKYH alliance from April Major box lines seek economies of scale
Shipping should stand on its own feet CMA CGM is not the first to seek financial help from the public sector
CMA CGM confirms French sovereign wealth fund talks Debt-ridden boxship giant offers Yildirim additional stake
All eyes on transpacific Cascade of tonnage leaves box lines few options
New Panama Canal administrator named Quijano takes over from Zubieta
Putin said to reject Frank PRESIDENT-elect Vladimir Putin has rejected the application of Sergei Frank, CEO of the government-run tanker company Sovcomflot, to take over Russia's seabed seismic service company, Sevmoreneftegeofizika
Brazilian yard lands MR tanker order EIKE Batista-led OSX confirmed today that it has secured a contract to build 11 medium-range product tankers for Kingfish do Brazil
Arrest nears for captain in fatal collision MADRAS High Court today dismissed a bail plea filed by the captain of the Singapore-flagged bulker Prabhu Daya
Small bulkers draw buyers SMALLER bulkers are outperforming their larger Capesize cousins, which is luring potential buyers to the smaller ships, an Athens broker said
Study finds Kitimat safe LARGE oil tankers and LNG carriers can safely access the small, private port of Kitimat on Canada's West Coast, a Transport Canada study has found
Seadrill wins first deal in Saudi Arabia SEADRILL of Norway announced today it has won its first contract in Saudi Arabia
Cash buyers get stuck A WEAKER ship recycling market has left many cash buyers stuck with an unsold inventory, as breaking yards are refusing to pay profitable rates
Crew saved in Italy grounding NINETEEN crewmen were reported rescued from their Italian chemical tanker after it ran aground off the coast of Sicily
Panama Canal boss picked JORGE Quijano has been chosen as the new Panama Canal administrator
South Oz port JV formed A CHINESE steelmaker and an Australian iron ore company said today they are setting up a venture to develop a new port in South Australia
Evergreen formalises deal TAIWAN'S Evergreen Line has formalised its collaboration with the CKYH Alliance
China aims to revitalise shipbuilding BEIJING today unveiled a push aimed at revitalising Chinese shipbuilding by 2015
Pressure bulker value pressures rising SCARCE financing has discouraged shipowners from buying secondhand bulkers, analysts said today
Delhi plucks at cotton ban DELHI today bowed to political pressure and farmers and partly climbed down on its ban of cotton exports
FSL takes two more ships back from BLT FIRST SHIP Lease Trust said today that it has received two more chemical tankers that were on long-term lease to cash-strapped Berlian Laju Tanker
US Manufacturing Technology Orders Rise 8.4 Percent U.S manufacturing technology orders in January rose 8.4 percent year-over-year, highlighting "manufacturers increased confidence in future growth," according to the...
Diesel Prices Inch Up 2.9 Cents Diesel prices across the U.S. rose at the slowest pace in three weeks, climbing 2.9 cents in the week ending...
Freight Demand Keeps Pressure on Truck Pricing, FTR Says Research firm FTR Associates sees tightening truck capacity and rising truck pricing ahead this year for North American shippers as...
Furniture, Car Parts Drive Import Growth U.S. containerized imports rose 4.1 percent in January year-over-year, to 1,475,608 million 20-foot equivalent units, driven by growth in furniture...
Steel Exports Strengthen in January U.S. steel exports rose 19.1 percent year-over-year to 1.262 million tons in January, as shipments to Canada and Mexico offset...
U.K. Court Extends Judgment for Star Reefers A U.K. court has extended an order freezing assets of Russia's largest fruit importer, JFC Group, to enforce a judgment...
Trucking Dashboard 2011: Interactive Graphic Click on an icon below for detailed information on average retail diesel prices, LTL yield, trucking volumes, trucking employment, and...
German Court to Begin Review of Frankfurt Night Flight Ban A German federal court will begin a hearing tomorrow, March 13, to decide whether to extend a controversial ban on...
Two New OOCL Services to Set Sail OOCL will launch two new services from Asia to the U.S. West Coast this spring that it says will enhance...
Largest LTL Carriers Grew 17 Percent in 2011 The biggest less-than-truckload carriers got bigger in 2011, with the number of LTL companies with more than $1 billion in...
APL Seeks Second Rate Increase on Asia-Europe Trade APL joins other major ocean carriers in implementing a second general rate increase this year on the depressed Asia-Europe trade...
Lufthansa Cargo Volume Drops 3.4 Percent Lufthansa Cargo freight traffic slowed to 3.4 percent year-over-year in February from 11.4 percent in January, amid a slowing global...
CKYH, Evergreen to Start 12 Asia-Europe Loops The four ocean carriers that belong to the CKYH alliance and Evergreen Line are entering into individual cooperative agreements with...
OOCL Parent Ends 2011 in the Black Orient Overseas (International) Ltd. and its subsidiaries reported a profit of US$181.6 million for 2011, but the company warned the...
Cathay Pacific, Dragonair See 2 Percent Rise in Lift Cathay Pacific Airways' key markets remained "soft" in February with year-over-year traffic gains, mostly because of the early Chinese New...
Southern California Ports, Logistics Firms Focus on Efficiency Anticipating fierce competition from East Coast ports when the Panama Canal expansion project is completed in 2014, the Southern California...
India Container Volume Increases 3.3 Percent Container volume at major ports in India grew 3.3 percent year-over-year in the first 11 months of fiscal 2011-12, according...
MCC Transport Launches Smart Phone Products Intra-Asia container line MCC Transport has introduced a new mobile Web site and a smart phone application to enable customers...
Customs' Winning Hand A dozen years after Congress first allocated funding, Customs and Border Protection's Automated Commercial Environment isn't fully delivering on the...
Trucking Dashboard 2011: Fourth Quarter A surge in freight demand helped the for-hire U.S. trucking industry sustain its momentum in the last quarter of 2011,...
Long Arm of the Broker Law Q: We're a broker, and recently hired Carrier A to handle a load moving from our customer to its customer....
The Numbers Game As someone with a pricing background from back in the days of mechanical calculators, numbers have always fascinated me. And...
Trailer Bridge Back on Firm Ground Trailer Bridge is on track to exit Chapter 11 bankruptcy on March 16, four months after the U.S. mainland-Puerto Rico...
APM Terminals' Productivity Push Kim Fejfer is waging a war on waste at his company's container terminals. As CEO of APM Terminals, Fejfer views...
Congress's Road Rage Things have become so chaotic on Capitol Hill over transportation legislation that even the political experts admit it's hard to...
OOCL the most profitable so far Unlike all other carriers that have so far reported financial results, OOCL remained in profit on the bottom line last year, as shown in the table. Its revenue ...
Interim report reveals Rena master 'under pressure' to make pilotage window
Ocean carriers could have funded further space exploration SeaIntel Maritime Analysis' latest analysis of container industry trends reveals that the cost of the price war waged by the carriers on the two main trades linking ...
MOL phases own tonnage into Singapore/Myanmar Mitsui OSK Lines is replacing slot purchase agreements on common-user feeder services with its own tonnage on the route between Singapore and Yangon (Myanmar). ...
CKYH alliance and Evergreen bring back withdrawn Asia/Europe services Cosco, K Line, Yang Ming, Hanjin and Evergreen have confirmed that the Asia/Europe services which were withdrawn in December are to be re-introduced. Whilst confirming ...
Al Batha signs up in Kizad The Sharjah (UAE)-based Al Batha Trading & Industry Group has signed a 50-year deal with the Abu Dhabi Ports Company (ADPC) and will become the first tenant ...
CMHI aims to invest in more emerging markets China Merchants Holdings International's (CMHI) target is to become a global terminal operator and to this end is seeking more opportunities to invest out of China ...
Auckland dispute to spread The decision by the New Zealand Ports of Auckland [PoA] to dismiss its 300 dockers and replace them with contracted-out workers has rallied the International ...
Safe readies fundraiser Nasdaq-quoted bulker owner closes in on ship acquisition trail after lining up stock offering that could top $40m.
VLCCF sounds Sanko alarm John Fredriksen-backed owners tell investors they are 'prepared to protect the value' of charters with ailing Japanese operator.
Iberia initiates Safe Polys Hajioannou-led bulker owner may have its sights set on fuel efficient Japanese newbuildings, analyst says.
GSP wins pipe-layer work Romanian owner bags contract from Wintershall for North Sea job from June.
Angola standoff angers TDW US offshore powerhouse threatens to pull ships out of key market as talks with Sonangol turn sour.
Shell fixes Prosafe floater Oslo-listed offshore accommodation contractor ties up $58m deal with Shell Philippines Exploration.
Kingfish orders 11 tankers UK owner heading to OSX's new Brazilian shipyard for $732m MR deal backed by charters to Petrobras.
Colombo curtailed Sri Lankan shipbuilder posts 9% drop in fourth quarter earnings, but has work through to end of 2013.
SFI CFO resigns Eirik Eide heads for the door after brief tour of duty with jewel of John Fredriksen's shipping empire.
Ofer joins Allied offensive Israeli owner's bulker wing storms US legal arena with charter claim against troubled Greek operator.
Profit slips at Sinotrans Chinese bulker and boxship owner's 2011 earnings cut back by rising costs.
NewLead chalks off debt Nasdaq-listed owner clears $159m from its liabilities as a panamax bulker follows tanker quartet out of the door.
Billung: Sanko has paid up Golden Ocean chief says Japanese owner has handed over capesize charter cash despite seeking debt restructuring on Monday.
BMS Bunkers undergoes corporate redesign 'You might know us as Brilliant Maritime Services, some as Brilliant, others as BMS or BMS Bunkers - we want to make it simpler - just call us BMS Bunkers,' says company MD.
Mediterranean cargos pricing at discount Soaring crude is keeping outright fuel oil prices close to historic highs, while reducing demand from bunkerers and weakening the market, says analyst report.
Prices fall in northern Europe Prices lack direction in Mediterranean.
Mabanaft to focus on bunkering 'Distinct growth potential' for its international bunkering business.
Prices firm in Fujairah, down in Suez NYMEX showing losses in early trading.
Sinotrans sees profits fall Annual bunker costs climbed to $22.31 million.
Newbuilds focus on fuel efficiency ABB to supply azimuth thrusters.
Bunkerworld expands price coverage Bunker prices from over 300 ports around the world available, enhancing subscriber benefits.
Asian bunker prices showing little movement Supplies of 380 cSt material 'slightly tight' in Busan.
CMA CGM placed on S&P's credit watch Ratings of the French shipping firm lowered after it posted lower-than-expected operating profits.
Shipbuilder targets gas injection technology in demo Mitsui Engineering to hold demonstration for modified gas injection engine in the spring of 2013.
Indonesian oil trader reaches 'big milestone' Secures cooperation agreement with a subsidiary of Norway's I.M Skaugen.
US-based firm converting tanks to store low sulphur diesel In a bid to stay in compliance with a new mandate.
OOIL posts 90% drop in profits for FY 2011 Sees improvements in freight rates for 2012 to-date, but not enough to fully cover costs amid rising bunker prices.
Sanko Steamship eyes out-of-court rehabilitation Many bunker suppliers to be affected by the move, say industry observers.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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