Tanker fleet set to grow 6%, rates seen staying low The supply of crude oil tankers is expected to grow by 6 per cent this year and daily rates are seen staying low due to oversupply and slack demand, shipping industry association Bimco said on Wednesday.
25-year-low charter rates put squeeze on ship owners Companies hiring ships to haul coal and other raw materials are adding to financial pressure on vessel owners by taking advantage of the lowest charter costs in a quarter of a century, according to Precious Shipping pcl.
Ansaldo STS awarded contract in UAE Spain-based Ansaldo STS has been awarded a contract by the Italo-Indian joint venture created by Saipem-Tecnimont-Dodsal for the system integration of the newly constructed Shah-Ha...
Russian Railways' network moves 1.2 billion t Russian Railways reported that 105.5 million tons of freight was hauled in its network in December 2011, an increase of 5.2% compared to the same month in 2010. Freight turnover in...
Cargoline defying hackers Cargoline has become the first general cargo alliance to implements the ISO/IEC 27001 information security system. The programme is ISO/IEC 27001 certified and should provide perma...
Kögel expands service network in Denmark Kögel, one of the leading trailer manufacturers in Europe, has comprehensively expanded its service network in Denmark. Three additional service partners, namely KLC, Jysk Lastvog...
Lan Cargo: promising start to 2012 Lan Airlines and its subsidiaries, one of the leading air carriers in Latin America, reported its preliminary monthly traffic statistics for January 2012 compared to January 2011. ...
NIIT Technologies implements cargo management system at Vietnam's largest airport NIIT Technologies Ltd, a global IT solutions provider based in New Delhi, has successfully implemented its Cargo Operations Intelligent System2 (COSYS), a complete cargo management...
duisport set new container handling record in 2011 Duisburg's Rhine ports noted a 10% increase in throughput to 125.6 million t in 2011 (2010: 114 million t). The German service provider duisport set a new record by lifting 64 mill...
New vessel for Transbox/Rhinecontainer Transbox, a subsidiary of the Dutch shipping service provider Rhinecontainer BV, began to deploy the new 268 teu ship "FSaron" (135 m x 11.45 m) on the Rotterdam-Antwerp-...
K Line - change of executive officers The Japanese shipping company Kawasaki Kisen Kaisha Ltd (K Line) decided to change some of its executive officers at a recent board meeting. With effect from 1 July, the current ma...
Severe cargo shrinkage at Hong Kong's AAT Hong Kong's Asia Airfreight Terminal Co Ltd (AAT) reported that its January 2012 tonnage throughput amounted to 50,781 t, a drop of 16% compared with the same period last year. Exp...
Logwin operating new spare parts warehouse for German car maker Logwin, an international logistics service provider based in Grevenmacher (Luxembourg), started operations at a new spare parts warehouse for the German car manufacturer BMW in aut...
Gebrüder Weiss ventures into Georgian market The Austrian logistics service provider Gebrüder Weiss has opened for business in Tiflis (Georgia), with immediate effect. The global transport and logistics company has founded a ...
Broekman Group develops steel solution for maritime transport users The Broekman Group has initiated a new business entity for the maritime industry and transport users in the steel and dry cargo sector. Broekman Chartering & Brokering now arra...
New CEO of Rickmers Holding and Rickmers-Linie Jan B Steffens is set to step down from the positions of CEO of Rickmers Holding and CEO of Rickmers-Linie by 31 March 2012. He will continue to serve on the Rickmers Group advisor...
Loss of Qatar's LNG would have world-wide effects Countries importing liquefied natural gas are critically dependent on the stability of all exports, not just those that use the Strait of Hormuz
Is STX OSV ripe for the picking? Singapore-listed shipbuilder could be a juicy acquisition, but who will pluck it?
IHC Merwede eyes Jaya Holdings' shipyards Improving stock prices make it more likely that a Jaya stake will be sold
The Baltic Dry what? Righting the shipping industry's Wikipedia wrongs
Results are a mess of our own making Shipping can rise from the doldrums only if it learns from past mistakes
Goldenport takes control of German feeder vessel Latest acquisition is well-priced, says Greek owner
Jack-up drills test near-term highs Seadrill lands a clutch of fixtures at improved rates
The strength of Hercules Offshore player concentrates on shallow-water drilling units
Noble weighs spinning off jack-up rigs A spin-off, or another form of asset disposition, if timed right, would have the potential to bring in outsized amounts of cash
Dry bulk owners should hold off ordering even if yards drop prices Safe Bulkers chief says newbuilding values will stay low for some time, so companies should order later in the downturn
Congressional antitrust hearings could begin next month No plans in Europe to turn back the clock
FMC study set to reignite box line antitrust debate Research shows US trades not disadvantaged by European Union regulatory reform
Sitting on the fence FMC study offers ammunition to reformers and to their opponents
Credit Suisse upgrades DP World from neutral to outperform Global port group's target share price raised by 18% to $14.7o
Supramax owners hope for March market rebound Atlantic decline halts as Pacific rates grow on fewer ships
Indian fishermen shot dead by Italian anti-piracy team Conflicting reports after tanker incident off Kerala
Hajioannou says Vale transhipment hub does not make financial sense Safe Bulkers chief tells analysts that such a move would be positive for the capesize market
Enrica Lexie guards and officers not immune from criminal or civil law Murder charges are possible, say legal sources
LPG seaborne trade to top 100m tonnes in 2013 Butane and propane to lead growth, with VLGCs forecast to earn $1m a month in two years' time
Product tankers drive Navios growth strategy Company pays dividend on profitable quarter but puts growth first
Los Angeles posts record January volumes as Long Beach slips Chinese new year helps LA to notch up 5.8% rise to just under 699,000 teu, but hinders its neighbour
Vale iron ore sales to Asia boost dry bulk tonne-mile demand China, Japan and South Korea account for 60% of Brazilian miner's ferrous sales in 2011
HMM sues Grand China over charter hire arrears in new US suit Box company targets parent company HNA in $19.7m claim
SkySails sacks half its staff as wind propulsion fails to fly Hamburg firm has sold barely 10 kites
Antwerp and Rotterdam beset by strikes Mega-hubs face disruption as pilots and dock workers attack Belgian and Dutch changes in national pension rules
CSA unyielding in Vale ban Industry group to monitor movements of valemaxes and talk to Chinese ports and steel mills
Marsh joins forces with Sami to release PMSC package Broker is first of four to receive private maritime security industry endorsement
Robbery incidents up in Southeast and South Asia in January ReCAAP reports one attempted pirate attack
Torm passes deadline on debt talks Ailing tanker company is looking for another extension on suspension of debt payments
US box imports forecast to rise in first half of 2012 Industry estimates bullish on improved economic outlook
Liner probe detects little harm REPEAL of the EU liner conference block exemption has had little if any impact on US box rates, concludes an FMC report released today
CSAV attains capital goal CHILEAN liner CSAV today confirmed that it has completed its capital-raising programme and successfully hit its target of $1.2Bn
Frangou keeps buying NYSE-listed Navios Acquisition today announced quarterly profits and the acquisition of three more MR2 product tanker newbuildings
BIMCO: despite caution, ship lending increased LENDERS have become more cautious on shipping finance, yet their top 20 actually increased such financing last year, BIMCO said today
Algoma smiles times four ALGOMA Central's takeover last year of ships from long-time business partner Upper Lakes today sweetened Algoma's bottom line
SCI net falls 40% HIGH SPENDING on operations and a drop in freight rates led to Shipping Corp of India today to post a 40% drop in net profits year on year
AP's profits plummet CROATIA'S Atlantska Plovidba said today its net profits dropped 63% last year from 2010 results
TORM predicts another renewal from banks TORM, the Danish product tanker and drybulk carrier operator, said today it expects another extension of a temporary agreement with its banks
Vale shifts to transhipment BRAZILIAN iron-ore giant Vale has reported lower profits than expected and emphasised transhipment strategies for China deliveries
US box imports seen growing, but slowly US BOX imports are expected to fall 6.8% in February, as forecasters continue to take a guarded outlook on 2012 growth
Capesizes face slow recovery CAPESIZES in the Pacific began the week well, with Australian miners taking bulkers again, but brokers told Fairplay today owners playing catch-up are holding up recovery
Pools prop up VLCCs BROKERS told Fairplay today that pooled VLCCs are helping to push freight rates up
Europe presses for stricter ship fuel limits EUROPEAN Parliament members today pressed for even stricter limits on sulphur content in maritime fuel than mandated by the IMO
Olympic labours to fix UK ferry berth crack URGENT repairs are being carried out on a ferry berth wall at Weymouth Harbour, a 2012 Olympic site, the English port told Fairplay today
Adaro raises coal output MALAYSIAN bank CIMB expects Indonesia's second-biggest thermal coal producer Adaro Energy to increase output this year after it delivered a better year-on-year performance than expected for 2011
FDA Blocks More Orange Juice Imports Federal regulators are still squeezing orange juice imports, stopping shipments at the U.S. border or ports and testing samples for...
Moody's Raises Swift Transportation Rating Moody's Investors Service boosted its outlook for Swift Transportation to positive from stable as the nation's largest truckload carrier rebuilds...
Rhode Island Study Urges Maritime, Breakbulk Development A study by a Rhode Island legislative commission said development of auto import-export cargo, offshore wind farms, container feeder services...
California 3PL Opens Charleston Transload Center Logistics provider Performance Team is opening a container transloading facility at the Port of Charleston to transload cargo from ocean...
Central Freight Lines to Test Natural Gas Trucks Southwestern less-than-truckload carrier Central Freight Lines will test 15 natural gas-powered Class 8 Peterbilt tractors in Houston and Galveston, Texas....
EU Liner Conference Ban Didn't Hurt US Shippers, Study Says U.S. shippers have been relatively unaffected by the European Union's 2008 decision to outlaw liner conferences, according to a two-year...
Transport Industry Fights N.J. Employee-Driver Bills Industry groups including shippers and trucking companies are urging New Jersey legislators to reject union-backed bills that would require owner-operators...
CSAV Completes $1.2 Billion Capital Increase Chilean carrier CSAV has issued $412 million in new stock to complete a $1.2 million capital increase that is a...
St. Lawrence Seaway Expects Strong 2012 Traffic St. Lawrence Seaway officials expect strong traffic in the 2012 navigation season, starting March 22, as foreign demand for North...
Port of Long Beach Container Trade Falls 3.9 Percent The Port of Long Beach began 2012 on a down note, with containerized imports in January declining 5.5 percent and...
Hamburg Port Boosts Container Traffic 14.2 Percent The port of Hamburg boosted container traffic 14.2 percent in 2011 from a year ago, consolidating the port's position as...
VPA, MSC Offer Through Service to Richmond Mediterranean Shipping began offering a bill of lading for both imports and exports to and from the Port of Richmond,...
MSC Rethinks Antwerp Port Presence as Strike Continues Mediterranean Shipping Co. said it is reconsidering its operations at the Port of Antwerp as a pilot strike paralyzes shipping...
Global Economy on the Mend, Says Survey A quarterly global survey says the world's economic climate has begun to improve after two quarters of decline but remains...
Asia-Europe Spot Rates Resume Their Fall Spot freight rates on the westbound Asia-Europe trade dropped by 3.2 percent this week from the week before as the...
Shipping Corporation of India Profit Down 40 Percent Shipping Corporation of India's third quarter net profit fell 40 percent from a year ago to $15.12 million, as the...
Star Reefers Swings to $124 Million Loss in 2011 Star Reefers swung to a $124 million net loss in 2011 from an $89,000 profit a year ago, as the...
Transnet responds to South Africa regulators' tariff cut Transnet, which controls Transnet National Ports Authority (TNPA), has responded in a positive and collaborative manner to the regulator's decision to suspend its ...
BIMCO believes container shipping will remain pressurised In its latest report on the container shipping market, BIMCO has suggested that weak demand, compounded by continuing levels of overcapacity will continue to pressurise ...
NPA to use NIM for training staff The Nigerian Port Authority (NPA) is to use the Nigerian Institute of Management (NIM) to help train its staff. The move reflects the authority's desire to have ...
Italy and the Netherlands slide into recession With the debt crisis in Europe threatening a contagion impact on weak southern eurozone states should a bail-out deal for beleaguered Greece not be forthcoming ...
Stronger transpac volumes forecast by Port Tracker Import cargo volume at the US' major retail container ports is expected to be down 6.8% in February from the same month a year ago - but should show year-over-year ...
Renault opens new assembly plant in Tanger Med Renault has just opened a car assembly plant in Tanger Med that promises to inject new life into the Moroccan gateway. It has an initial annual capacity of 170,000 ...
Dublin exports up, but boxes down Exports through Ireland's state-owned Dublin Port Company [DPC] increased by 2.8% in 2011, versus the previous year, to 11.5 million tonnes, as imports declined ...
Matson's 2011 profit hit by 'difficult' transpac US Jones Act carrier Matson has seen its operating profit slump for 2011 - with a major factor being 'competitive pricing pressure' in the transpacific trade.Its ...
Indian ports struggle to match nation's growth Indian exports rose 10.1% year-on-year in January to USD25.4 billion, with imports to the 1.2 billion populated country soaring by 20.3% to USD40.1 billion, reflecting ...
CSAV reduces losses CSAV continued to haemorrhage money in Q4 11, but at a much slower pace than in the previous three quarters. The carrier's revenue fell by 42.8% compared to Q3 ...
US to target black carbon As the IMO looks to tackle the problem of soot, Hillary Clinton announces plans for a new initiative aimed at reducing short-lived climate pollutants.
Bunker prices firming in European ports Tight avails in Rotterdam for prompt deliveries.
IFO prices unchanged in Fujairah Middle East sees little movement.
Reilly says Chemoil looking to grow in Singapore Declines to confirm reports that Itochu has sold its shares in the company.
Singapore bunker players see premiums fall Bunker suppliers clearing their term barrels at a loss.
Environmental groups applaud vote in favour of cleaner ship fuels MEP have not, however, approved proposals to improve enforcement by requiring a minimum amount of inspections.
Fuel oil stocks remain above 19 million barrels Stock levels have been boosted by record arbitrage volumes.
European MEPs vote for stricter sulphur regulations Committee wants draft legislation to go further than EC proposal and IMO regulations, expanding sulphur emission control zones in Europe.
Golden Ocean eyes 'fuel-efficient assets' acquisition Existing fleets of vessels 'not the prime target' for acquisitions, it says.
Asian IFO prices lack direction Average demand at Asian bunker hubs on Thursday.
KPI Bridge Oil sues BLT over $2.2 million unpaid bunker bills Alleges that the Indonesian shipping firm has 'failed, neglected and/or refused' to pay on 17 bunker contracts.
Bunker barge avails 'improving' in Western Japan Local traders see 'less delay' in bunker delivery schedules.
South China fuel oil imports to rise 18% in February Bonded bunker players replenish their stocks.
Fuel pumping ops on Costa Concordia 'progressing well' Salvors emptying fuel from the first six tanks of the stricken cruise ship, says port authority.
Chemoil sees growth from diversification New businesses account for 'substantial part of volume growth' in 2011.
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