Agility reports increase in Q3 revenue and net profit The Kuwait-based logistics service provider Agility reported a net profit of KWD 9.75 million (EUR 27.2 million) in Q3/2012, a 12% increase compared to the net profit of KWD 8.05 m...
Asiana Airlines cancels long-standing Japan service but starts daily flights to Vladivostok Today (15 November) the South Korean carrier Asiana Airlines is ending its long-standing Pusan - Fukuoka (Japan) service. The route, which was launched in November 1991, was most r...
Jet Airways cancels Chennai - Brussels service From today (15 November), Indian Jet Airways no longer offers flights between Chennai and Brussels. The daily service between the southeast Indian port city and the Belgian capital...
Korean Air boosts Myanmar cargo capacity Today (15 November) Korean Air is replacing the aircraft used on its recently launched Seoul Incheon - Yangon (Myanmar) service. The four times per week service is now being operat...
Maersk in the black again The giant Danish carrier Maersk Line reported that its Q3/2012 profit was USD 498 million, compared to a loss of USD 289 million in the same quarter in 2011. Rates were higher this...
Santiago Garcia-Milà is Espo's new chairman The European Sea Ports Organisation (Espo) has elected Santiago Garcia-Milà, deputy director general of the Barcelona port authority (Spain), as its new chairman. He succeeds Victo...
Renault Trucks rolls out new app to teach economic driving in HGVs The French commercial vehicle maker Renault Trucks has launched a new Smartphone and tablet PC app called "Truck Fuel Eco Driving" to help drivers learn how to drive economically. ...
USA: new grant continues green locomotive effort The US-based transport provider Norfolk Southern Railroad and the state of Pennsylvania have received a USD 400,000 research and development grant from the Federal Railroad Adminis...
Geoff Partridge becomes managing director of Toll South Africa Toll Global Forwarding (TGF) has promoted Geoff Partridge to the post of managing director of its South African operation. He was previously operations director, and replaces Vince...
TCV Railway to open port of Valencia-Miranda de Ebro rail link The Spanish railfreight operator TCV Railway is launching a container transport service between the port of Valencia and Miranda de Ebro, in the province of Burgos (Spain), on 23 N...
Tenneco to supply EuroVI diesel aftertreatment systems to Scania Tenneco, a leading manufacturer of automotive technologies and products, based in Lake Forest IL (USA), is supplying the Scania Group with advanced diesel aftertreatment systems fo...
Kuehne + Nagel opens pharmaceuticals cross-docking warehouse in Mainz Kuehne + Nagel (K + N), a Switzerland-based global logistics service provider, is expanding its logistics activities for the pharmaceutical industry in Germany by opening a state-o...
Aegean turns losses into profits BUNKER supplier Aegean Marine Petroleum Network posted net profits of $8.7M in 3Q12 amid challenging market conditions
Subsea 7 wins $800M contract SUBSEA 7 said today it has won a subsea, umbilical, riser and flowline contract valued at about $800M from Total E&P Norge
Courage Marine trims losses by 26% SINGAPORE-listed Courage Marine said it cut losses by 26% in this year's first nine months despite continued drybulk market weakness
STX Pan Ocean loses for 8th straight quarter STX PAN Ocean lost $88.6M in its 3Q12, widening its deficit from $37.4M losses a year earlier
India's HMEL halts Iranian crude cargoes INDIA'S HPCL-Mittal Energy said it will halt cargoes of oil from Iran, IHS World Markets Energy reported today
China-Japan souring is causing grief for NYK NYK LINE said today some units are being affected by the souring of Sino-Japanese relations since mid-September
STX Europe's profits fall WEAKNESS in its cruise and ferry business is hitting STX Europe, the Oslo-based yard unit of South Korea's STX conglomerate
Premuda unveils losses, fears for full year ITALY'S tanker and bulker operator Premuda said today it is "reasonable" to predict full-year losses after it lost €7.76M ($9.88M) in the first nine months of the year
DFDS eyes acquisition DENMARK'S listed ferry and logistics group DFDS said today it plans to make an acquisition to expand into new markets
Greener fuels urged ZEHUA Ma, president of China COSCO Holdings, today urged suppliers to provide shipping groups with fuels of higher quality, efficiency and fuel economy
Goldenport scraps box ship GOLDENPORT Holdings has sold one box ship for scrap and laid up two others
Otto turns losses into profits SINGAPORE-listed offshore services provider Otto Marine today posted 3Q12 profits of $4.7M, turning around losses of $16.8M year on year
More Labor Woes for Port of Portland Contract talks between the Port of Portland and security guards at its container terminal that began this summer will reenter mediation on Nov. 16, but a breakdown in talks could cripple the container yard, as well as two other terminals at the port, The Oregonian reported. Bill Wyatt, the port's executive...
Truckers Taking to Mobile Technology When it comes to technology, truckers are going mobile, with 70 percent of drivers surveyed by uShip.com saying they use mobile phones for business. The number of truckers using apps jumped to 43 percent, a 16 percent increase from last year's annual mobile usage survey, according to uShip.com. More than half of...
Norway Post Selects credit360 to Streamline Sustainability Data Management CAMBRIDGE, UK/CHICAGO - credit360 will be used within Norway Post to drive environmental performance improvement throughout their expanding and increasingly complex operational structure. The system will help the organisation meet ambitious performance targets like a CO2 reduction target of 30% of 2008 levels by 2015. In addition, credit360 will be used...
Groups Come Together to Combat Human Trafficking in Colorado COMMERCE CITY, Colo.- The Colorado Motor Carriers Association, Colorado Truckstop Conference, and local elected and law enforcement officials launched an educational and awareness campaign today focused on combatting the human trafficking of underage children who are being forced to engage in prostitution. The kick off for the program was held...
Ryder's Natural Gas Trucks Top Six Million Miles Ryder System's fleet of 250 natural gas vehicles has surpassed a milestone of six million miles. Since 2011, when the natural gas truck program began, the vehicles have replaced about 923,000 gallons of diesel fuel with domestically produced natural gas and reduced emissions by more than 2,300 metric tons of carbon...
Canadian Pacific Railway, Signal Workers Reach Tentative Deal Canadian Pacific and the International Brotherhood of Electrical Workers, System Council 11, today reached a tentative five-year labor agreement covering about 450 employees who maintain and install railway signals and communications systems across Canada. Details of the preliminary contract are being withheld pending ratification by IBEW membership. Separately, the United Steel Workers,...
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 Nov. 13 between Shanghai and the following four trade lanes. Data Included: 11/13/2012 U.S. WEST COAST...
Cass Freight Index Cass index data is derived from actual freight invoices paid on behalf of 350 clients, which totaled over US$20 billion in 2011 and include a wide diversity of shippers, commodities and company size.Cass Freight ExpendituresThe Cass October expenditures index surged 8.4 percent year-over-year and rose 1.6 percent from September in...
Cass Linehaul Indices - Truck & Intermodal A timely indicator of market fluctuations in per-mile truckload pricing isolating the linehaul component of full truckload costs from other components (fuel and accessorials), providing a reflection of trends in baseline truckload prices. Cass Truckload Linehaul IndexThe October Cass truckload linehaul index was a record index-to-date 109.8, inching ahead 0.3...
Diesel Fuels Sandy Recovery in Northeast The fuel crisis in the Northeast is easing, though rationing continues in some areas and some fueling stations are still without power, and without working pumps. However, the damage Hurricane Sandy delivered to the region's fuel supply chain will take more time to repair, according to a report...
Matson Names Park VP of Government, Community Relations Ku'uhaku Park, Matson's new vice president of government and community relations. Honolulu-based Matson today named Ku'uhaku Park vice president of government and community relations. He will be responsible for directing the shipping carrier's government relations and community service activities in Hawaii, including the promotion and development of the Matson Foundation. Park was...
Railroads Face Little Regulatory Threat From Congress, Obama With the Nov. 6 election doing little to change the power structure at the nation's capital, the major U.S. freight railroads are unlikely to face major regulation risks in the coming year. Any attempts to change the rail regulatory framework aren't expected to go far in Congress, as a divided body...
Why an Obama Win Yields Hope for Infrastructure At first glance, the Nov. 6 election barely changed anything in the nation's capital. Voters gave President Obama four more years in the White House, kept Republicans in control of the House and Democrats dominant in the Senate. Although few faces have changed, however, the tone on Capitol Hill has. With...
JOC-ECRI Industrial Price Index The JOC-ECRI Industrial Price Index was developed by the Economic Cycle Research Institute (ECRI) and is a leading indicator of inflation based on a broad assortment of raw materials used in industrial production. The IPI growth rate compares the latest week's index with the IPI's average over the past year.In...
Logistics Providers Optimistic About 2013 Economy Eighty percent of logistics providers and freight forwarders reported slight business expansion in the last two years, and more than 75 percent expect that growth to continue into 2013, according to a study by logistics researcher Transport Intelligence and logistics software developer Kewill that surveyed 484 international businesses. Logistics providers in...
Spread of Globalization Is Slowing, BDP Survey Finds The relentless spread of globalization may be coming to an end as slow growth in the West allied to faster economic development in other regions encourages more near-sourcing and shorter supply chains, according to a new survey by leading logistics company BDP International. Arnie Bornstein, BDP's executive director of marketing and...
Virginia Cargo Volume Grew 1.5 Percent in October The Port of Virginia handled 175,330 20-foot-equivalent units in October, an increase of 1.5 percent from the 182,318 TEUs handled in September, and also up 1.5 percent year-over-year, the Virginia Port Authority announced today. October was the ninth consecutive month of growth, said Rodney W. Oliver, VPA's interim executive director. Volume...
New York retailers feel the Sandy pinch Manhattan household name stores are fretting in the aftermath of superstorm Sandy ahead of the Thanksgiving holiday next week and the crucial shopping ...
Eurozone back in recession The 17-nation eurozone has officially plunged back into recession after the EU's statistics office, Eurostat, confirmed that the collective GDP of the single currency ...
Los Angeles reports small monthly hike in container throughput Port of Los Angeles' container volumes edged ahead just 0.8% in October on the corresponding month in 2011 to 718,400 TEU, although the US west coast box hub's ...
Hamburg's Chinese boxes plunge There is yet further evidence of the European slowdown and the impact on the blue-chip Asia - Europe tradelane. Chinese container traffic processed ...
GSL praises box line discipline
HMM doing better Like its larger compatriot Hanjin, South Korea's Hyundai Merchant Marine swung into an operating profit in the third quarter of the year, also benefiting from a ...
Safe Bulkers in nosedive Shares in Greece's Safe Bulkers plummeted Thursday after the owner revealed a surprise dividend cut.
DryShips sticking with ORIG DryShips boss George Economou ruled out selling shares its Ocean Rig drilling spin off as a solution to paying for unfinanced dry-bulk newbuildings.
Lange lauds eco ships Ultrabulk has nailed its colours to the eco ship mast after swapping a charter for a delayed kamsarmax for a more efficient vessel at a Japanese yard yesterday.
STX Europe profit shrinks STX Europe continues to rely on its shareholding in STX OSV to keep its earnings up.
Mercator moves up Indian owner Mercator has increased its profit in the first half as revenue improved.
NAT faces red run Nordic American Tankers will fail to escape the red for the foreseeable future, a leading analyst warns.
Nobbled in North Sea Danish ro-ro giant DFDS has seen profit eroded by weaker northern European markets so far this year.
DryShips takes a beating George Economou's DryShips was on the rack on the Nasdaq today after a huge earnings miss and a warning over loan repayments.
SDLP makes top tier Wells Fargo has taken a shine to John Fredriksen's latest venture Seadrill Partners amid the promise of a strong dividend growth.
VLCC rates spike VLCCs are leading a rally in the tanker spot market with rates on the flagship Arabian Gulf to Far East route more than doubling in the space of a week.
Courage back in black Courage Marine doesn't expect to see any major upturn in its fortunes before 2014 at the earliest.
Safe's cape saviour Safe Bulkers has booked a capesize newbuilding in a move which saves a 10-year charter from landing in the shredder.
The dangers of drink A UK accident report has shown a drunken cargoship master turned straight toward a Stena ferry when a port officer alerted him to the dangers of a collision.
NAT in active hunt Nordic American Tankers is looking to expand its fleet in a tanker market which has many owners struggling.
Bergen in breach Bergen Group has confirmed it has breached certain loan covenants after delivering its third quarter results.
Hansson's health check With the ink still wet on Overseas Shipholding Group's Chapter 11 papers Nordic American Tankers was keen to paint a strong picture of its own financial health as it reported a third quarter loss today.
Clipper's pool purpose Denmark's Clipper Projects is driving consolidation in the multipurpose sector (MPP) by forming a new pool.
Ultrapetrol sees spike Shares in Ultrapetrol ingnited yesterday after the company reported a huge cash injection from a private equity firm.
North Sea needs a trim Norway's Farstad Shipping says offshore vessels need to head away from the North Sea if rates are to improve.
Dragnis takes scrap cash Goldenport Holdings has logged a profit from the scrapping of a container vessel it bought last year.
Aegean lags Street Aegean Marine Petroleum has returned to the black in the third quarter but analysts had hoped for more from the Peter Georgiopoulos-linked company.
Man dies in bulker fall A Singapore ship chandler has been killed after falling from a Japanese bulker.
Subsea 7 in big win Oslo-listed owner will bank $800m from Total for North Sea gas field work.
ABG boss quits The managing director of India's ABG Shipyard has resigned due to ill health, the company said.
Safe snaps-up bulker Safe Bulkers has raided the secondhand market and picked up a modern Japanese panamax bulker for a firm price.
GPRT boxship in lay-up Goldenport Holdings has failed to find employment for a recently acquired containership, a regulatory disclosure shows.
GrainCorp rejects ADM GrainCorp has rejected a $3bn takeover bid by commodities giant Archer Daniels Midland (ADM) it confirmed Thursday.
Rigs Angola bound Ocean Rig UDW has confirmed three-year charters for two of its drilling units including one of its newbuildings.
Eyes on heating oil The US Northeast's motor gasoline (mogas) shortages after Hurricane Sandy are subsiding but Poten & Partners says products tanker owners may get further help from distillate demands.
Dryships losses top $50m George Economou's Dryships has booked a third quarter loss of just over $51m in results published late Wednesday.
SLNG eyes expansion Singapore LNG (SLNG) is to build a fourth LNG storage facility that will increase the terminal's current planned capacity by 50%.
OSG files for Chapter 11 bankruptcy protection "Over the past two weeks, OSG has continued to fix vessels with our clients. We will use the Chapter 11 process to definitively resolve our financial issues," said Morten Arntzen, OSG's president and CEO.
Forwarders, 3PLs expect growth in 2013 In a survey by Transportation Intelligence and Kewill, 80 percent of respondents reported slight business expansion over the past two years, with more than 75 percent expecting this growth to continue next year.
LA loaded volume down 3% in October
EU will approve UPS-TNT deal, analyst predicts UPS will probably have to shed a couple of TNT pieces, "but ultimately I think it will get done," said Ben Gordon, founder and managing director of BG Strategic Advisors, at the NIT League and IANA conference.
UNCLOS passage would boost U.S. credibility It's particularly important off the coast of Alaska where the OCS is twice the size of California and "some of the richest resources in the world are there -literally trillions of dollars," said a U.S. Coast Guard official.
U.S. import volume down nearly 5% in October The threat of a port strike along the U.S. East and Gulf coast ports from Oct. 1 may have induced some importers to move volume up earlier in the year to avoid potential disruptions.
Clarification of article on Iranian fuel oil being sold through UAE entity FAL Oil says it 'categorically denies' allegations contained in the article.
Prices firm in Fujairah but soften in Durban A mixed picture was seen in most bunker hubs.
Bunker prices climb in Europe Average demand in Hamburg with some congestion seen at Gibraltar.
Russia's fuel oil output 'not about to fall' Refiner says upgrades can't be rushed: 'There are physical limitations that can't be overcome.'
Risk management course for bunker players Two-day course in Singapore in January.
Fuel oil stocks climbing in Singapore December arbitrage arrivals expected to be around 5 mt.
UK study to assess chances of modal shift Aim is to find out if tougher sulphur rules will push cargo onto roads.
Slow-steaming sees Rotterdam lose out to Piraeus IT firm makes Greek port its regional hub
Baxus Marine to be wound up Company's attempt to secure court protection fails to materialise.
Bunker prices mostly higher Demand average in key Asian ports on Thursday.
China fuel oil stocks lower Inventories generally lower as teapot refiners drawdown stocks at Shandong province.
Odfjell sees further losses Results affected by a weak chemical tanker market and restructuring at its Rotterdam terminal.
OSG files for Chapter 11 Plans to use the Chapter 11 process to 'significantly reduce' its $2.67 billion debt.
Aegean shares rising Earnings per share for Q3 beats consensus estimates.
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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