PCC Intermodal awarded European Medal 2012 The regular intermodal connections offered by the Polish service provider PCC Intermodal have been awarded the European Medal 2012. This prize is granted by the Business Centre Clu...
North Carolina State Ports Authority appoints new deputy executive director operations Jeffry E. Miles has been appointed as the new deputy executive director for operations for the North Carolina State Ports Authority by its executive director Tom Bradshaw. One of M...
Two new heads at Champ Cargosystems Champ Cargosystems has appointed Dirk de Rooij head of commercial operations EMEA and CIS, and Steven Fayers head of proposition development e-cargo. De Rooij was previously execut...
Russia's commercial vehicle market continues to boom In contrast to the market in Western Europe, Russia's commercial vehicle market is still registering a growth rate of approximately 7.5%. The light commercial vehicle and medium we...
Flughafen Zürich AG prequalified for Portugal The Swiss consortium Zurich Airport, which is led by Flughafen Zürich AG, has qualified for the definitive bidding round in the privatisation process of the Portuguese airport comp...
Cathay Pacific's cargo volume rises again Hong Kong-based Cathay Pacific Airways recently released the combined Cathay Pacific and Dragonair traffic figures for October 2012. The results show a year-on-year increase of car...
Sarjak Container Lines arrives in Italy Sarjak Container Lines, a major Indian NVOCC that specialises in out of gauge cargo, was established in Mumbai in 2003 as a multimodal transport operator in the niche project cargo...
Hybrid vehicle manufacturer clinches manufacturing innovation award UK-based Ashwoods Automotive, a leading hybrid commercial vehicle manufacturer, has clinched another award. The Exeter-based company won the prestigious Manufacturing Innovation Aw...
BLS Cargo has to save CHF 3 to 4 million The private Swiss rail service provider BLS is introducing a series of measures that are intended to cut costs by some CHF 10 million next year. Between CHF 3 to 4 million of this ...
AAT welcomes Tonlesap Airlines Hong Kong's Asia Airfreight Terminal Co Ltd (AAT) has announced that Tonlesap Airlines (K9) appointed AAT as its handling agent for cargo and documentation, effective from 26 Octob...
Ritschard: ground-breaking ceremony in Geneva Ritschard, a Geneva (Switzerland)-based forwarding and logistics firm, has commenced building work on new headquarters in Meyrin, near Geneva. The ground-breaking ceremony for the ...
Phoenix Europe Express obtains AEO-F certificate Phoenix Europe Express, a French transport and logistics enterprise based in Goussainville near Paris, was recently recognised as a fully authorised economic operator (AEO-F). Hold...
Caterpillar Logistics Services renamed The Morton IL (USA)-based company Caterpillar Logistics Services Inc (Cat Logistics) has been renamed Neovia Logistics Services. Platinum Equity, a global mergers, acquisitions and...
CMA CGM close to final agreement with bank creditors French line posts near record third-quarter results
Aframax rates plummet on Caribbean-US Gulf trade Owners lose $2,000 in daily earnings overnight after spike ends
Shipowners should look to the Australian exit In a major casualty, a single-ship firm could benefit from applying for insolvency
Two reeferships KG funds on the brink MPC Capital vehicle investors must inject tens of millions of euros to prevent fire sale
Maersk Tankers to retrofit VLCCs to save money on fuel Exclusive: AP Moller-Maersk division places two additional vessels in cold lay-up
West of England applies 7.5% general rate increase P&I club anticipates that the overall cost of claims for 2013 will rise while investment returns will remain modest
NYK eyes medium-term LNG shipping contracts Exclusive: Japanese line integrates its energy transport operations
Forget global; think 'glocal' Intra-regional trade will drive growth in shipping and logistics, says K+N chairman Gernandt
Buying into the cool chain K+N builds a global knowledge base in perishable goods
SEEMP and sensibility Some owners and managers prefer to wait and see than to rush to implement efficiency plans
MSC boss calls for expansion at La Spezia Italy must strengthen existing ports' capacity not build new ones, says Aponte
Diana posts smaller profit for third quarter Greece-based owner takes delivery of 30th ship and will invest in continued expansion
Brazil investment firm launches shipping fund OSM and Galbraiths recruited as advisers
HSH counts the cost of threatening Omega board members Court tells senior lender to pay Chapter 11 firm's related legal costs
Deutsche Fonds reports hike in KG restructurings Research also points to a sharp rise in insolvent fund-owned vessels
Keep smiling Staying ahead of the game is all about waiting for opportunities
Rotterdam's box capacity will spark only 'limited' price war Customers have equity commitments with port firms, says APM Terminals Europe chief
IG increases individual club retention Lower than expected price hike is 'a compromise', says source
The 2012-2013 P&I policy year will be the most expensive on record Increase raises questions over excess of loss reinsurance contract renewals
Gulftainer lands Lebanon concession UAE port management firm to upgrade equipment at the northern port of Tripoli
Navios to receive $175m lump sum from charter default insurer Cash from restructuring default cover will repay debt, says bulker owner
Give our yards cashflow stress tests, says South Korea regulator Even the country's largest shipbuilders face a finance shortfall
Lines shed two-thirds of rates increase for Asia-northern Europe routes Drive undermined after Mediterranean price hike failed to stick, says analyst
Maersk is not too proud to take the lead on lay-ups Suspension of AE9 Asia-Europe service drives surge in idling
Daggett holds out over bonuses and work hours Fresh call for unity from union boss heightens cargo interests' concerns
Unfrozen asset Russia must step up its moves to make the Arctic safer for shipping
Restis to relieve Seanergy of two elderly BET capesizes Move will carve nearly $47m off public company's debt burden
USMX defends container royalty caps as US dock wage crisis escalates Capo and Daggett resume public war of words despite FMCS-overseen mediation
Buoyant CMA CGM unveils $371M 3Q profits CMA CGM today confirmed its second-quarter return to profits, announcing 3Q profits of $371M
Rates squeeze Diana NYSE-listed drybulk major Diana Shipping today reported sharply lower quarterly profits as a result of falling rates
Navios restructures insurance CHARTER insurance for Navios Partners and Navios Holdings from their AA-rated provider will be phased out after three years under restructured agreements
BP to ship LNG to Kansai BP HAS signed a second deal this year with a Japanese LNG importer for supplies indexed - at least in part - to a gas price benchmark, IHS World Markets Energy reported today
Maersk Tankers sells Handygas to Navigator Gas MAERSK Tankers said it has sold its 11 Handygas vessels to Navigator Gas, the London gas carrier company
Greeks hold 194 in attempts to smuggle migrants GREEK authorities are holding 194 people involved during the past week with migrant smuggling
Ultrabulk kills orders and turns to Imabari DANISH drybulk specialist Ultrabulk told Fairplay it has cancelled charter-in arrangements for two Kamsarmaxes being built at Jinhai HI
Seanergy backs out of BET NASDAQ-listed Seanergy has announced the divestment of Bulk Energy Transport to Seanergy sponsor Victor Restis in return for the assumption of BET debt
CIMC plans share shuffle CIMC'S listing hearing is planned later this week by a Hong Kong Stock Exchange panel reviewing its application for trading on the bourse
STX Pan Ocean pays $194M to redeem bonds STX PAN Ocean said today it has paid $193.4M to redeem outstanding convertible bonds that holders exercised under their put options
CSCL units to sell boxes CSCL'S two Hong Kong units have decided to sell and lease back containers with capacity of 210,481 teu
Odfjell weighs second bond in eight months ODFJELL, the listed chemical carrier and tank terminals group, said today it might issue new 3-6 year bonds on the Norwegian bourse
APM shuffles strategy APM TOLD told Fairplay today its new investments will primarily be placed in Maersk Oil, APM Terminals and Maersk Drilling
VLGC rates soften RATES to ship LPG on VLGCs are softening again after rallying for more than a week, as requirements for November appear to be covered for now
S Asian shipbreaking market languishes SOUTH Asia's shipbreaking market continues to languish, with the weakening rupee continuing to erode prices amid full capacity at yards
SPS Commerce Appoints New Board Member Brad Cleveland MINNEAPOLIS - SPS Commerce, a leading provider of on-demand supply chain management solutions, today announced that it has appointed Brad Cleveland to its board of directors effective November 19, 2012. Since November 2001, Mr. Cleveland has served as a member of the board of directors and the President and CEO of...
Port Welcomes Two New Home-Port Cruise Ships NEW ORLEANS - The Port of New Orleans welcomed two new home-ported cruise ships over the last eight days and set a new Port record for passenger embarkations and disembarkations during a two-day span, as 24,705 passengers either boarded or disembarked four cruise ships and two sternwheelers Nov. 17-18. "New Orleans...
Hanjin Shipping Hikes Asia-Europe Rates Hanjin Shipping, joining numerous other carriers, announced a rate restoration surcharge plan for its Asia-Europe trade, effective Dec. 16. All rates will increase by $600 per 20-foot-equivalent unit and $1,200 per 40-foot-equivalent unit. The rates will apply to routes from the Far East and Southeast Asia to North Europe, Baltic Sea, Scandinavia,...
Virginia Port Reopens Portsmouth Marine Terminal to Handle Sandy Overflow The Virginia Port Authority reopened Portsmouth Marine Terminal for the first time in nearly two years to handle an overflow of automobiles that would normally be handled at Newport News Marine Terminal, a separate VPA-owned facility. The Newport News terminal is operating at capacity with more than 5,500 cars on site...
OOCL Announces Surcharges Ocean carrier Orient Overseas Container Line followed CMA CGM in announcing a rate restoration program for December and a peak-season surcharge for January in the run-up to the Chinese New Year. Effective Dec. 15, freight rates for westbound traffic from the Far East (including Japan), Indian subcontinent and the Middle East will...
ILA's Daggett Says USMX 'Misleading' The president of the International Longshoremen's Association complained that carriers "invest in building new ships at nearly $200 million each, but don't put a dime on the table in negotiations to compensate ILA members who helped them accumulate their riches." ILA President Harold Daggett also accused United States Maritime Alliance of...
ILWU Honors Pickets, Shuts Down Port of Oakland The Port of Oakland was shut down Tuesday when members of the International Longshore and Warehouse Union refused to cross pickets established at all of the marine terminals by striking members of the Service Employees International Union. The SEIU represents maintenance workers at marine terminals. The SEIU members, who are employed...
Cargo Volume Up 10 Percent at Baltimore The Port of Baltimore handled 7.2 million tons of general cargo at its public marine terminas in the first nine months of 2012, up 10 percent from a year earlier, Maryland Gov. Martin O'Malley announced Friday. The port moved nearly 30 million tons of foreign commerce in the January-September period, up 6...
Is an OCU Strike Brewing at LA-Long Beach? LONG BEACH, Calif. - After weeks of negotiations, talks broke off Tuesday between office clerical workers and employers in Los Angeles-Long Beach, raising the specter of a labor action at the nation's largest port complex. John Fageaux, president of the Office Clerical Unit of International Longshore and Warehouse Union Local 63,...
Diana Shipping Income Crashes 53.4 Percent Greece-based ship owner and charterer Diana Shipping on Tuesday reported third quarter income of $12.3 million, down 53.4 percent from $26.4 million in the same quarter last year. Quarterly time-charter revenue was $56.2 million, down 12.5 percent year-over-year, mainly because of reduced time-charter rates, the company said. Year-to-date, profit was $49.6 million, down 43.2...
AASHTO Names Lewis as 2013 President Michael Lewis, AASHTO's 2013 president. The American Association of State Highway and Transportation Officials' board of directors voted to elect Michael Lewis, Rhode Island's transportation director, as president for 2013. Mike Hancock, secretary of the Kentucky Transportation Cabinet, was elected vice president. In his role, Lewis will emphasize the deployment of new...
C.H. Robinson Launches Tech Platform Navisphere Transportation and logistics company C.H. Robinson Worldwide launched its technology platform Navisphere, which provides end-to-end visibility and business intelligence for supply chains. Navisphere was created in response to increasingly sophisticated supply chain requirements across shippers of all sizes, the company said. It is used by company employees, customers and service providers...
Saint John Port Authority Names Interim Chairman The Saint John Port Authority in New Brunswick, Canada, named Peter Gaulton, interim chairman. Gaulton, a former vice president of the board, steps in for Stephen Campbell, who resigned this week to take a position with the Fisheries Ministry in Ottawa. Gaulton has been a member of the board since 2008. He...
USMX's Capo: ILA Sees Talks as 'One-Way Street' Management's top negotiator in Maine-to-Texas dockworker contract talks said International Longshoremen's Association leaders have shown an "uncompromising posture" and 'view bargaining as a one-way street.' James Capo, chairman and CEO of United States Maritime Alliance, responded to a statement last week by ILA President Harold Daggett, who said the union would...
NCSP Group's Container Cargo Up 5.4 Percent Russia-based port operator PJSC Novorossiysk Commercial Sea Port Group reported cargo volume from January to October was 134.4 million tons, a 3.6 percent increase year-over-year. Year-to-date, container volume of 517,000 20-foot-equivalent units is up 5.4 percent from a year earlier. Expansion plans are under way at Novorossiysk and Baltiysk, both of...
Port of Houston's Volume Stable in October Tonnage at Port of Houston Authority facilities in October was 6,000 tons, up a slight 0.5 percent, Executive Director Len Waterworth said in his monthly financial report. Year-to-date volume was up 8 percent to 1.7 million tons, fueled primarily by a 32 percent year-over-year surge in steel, Waterworth said. Revenue from January...
Container Volume Climbs at Port of Oakland Laden container volume at the Port of Oakland increased 5.3 percent in October year-over-year and 8.4 percent from September, to 207,627 20-foot-equivalent units. Import volume of 67,815 TEUs was up 3.6 percent from October 2011 and 3.7 percent from the month before. Exports increased 4.1 percent from a year earlier and...
APM Terminals pushes ahead with Badagry The Hague-based APM Terminals is pushing ahead with an ambitious project to build and operate a new deep sea port in Nigeria that will both serve as a new maritime ...
Schenker opens new facility in Australia DB Schenker has recently has established a new major logistical warehouse and operations centre in Sydney, Australia. The facility employs 80 people and caters ...
US retailers and box carriers hope for a good 'Black Friday' Stores in the US are preparing for the busiest shopping day in the year - the day after Thanksgiving Thursday when the modern day definition of 'Black Friday' [the ...
Global stocks recover on 'fiscal cliff' hopes Progress on talks to avoid the US economy falling over the so-called 'fiscal cliff' - the threat of USD600 billion worth of tax increases and spending cuts triggering ...
Asia - north Europe liners shed 64% of GRI According to analyst Lars Jensen, ocean carriers plying the over-tonnaged Asia to north Europe tradelane have conceded 64% of their November 1 USD500 per TEU westbound ...
Maersk not too proud to take lead on lay-ups Quoting the Alphaliner report from last week which identified the Copenhagen mega-liner as having the most boxships in lay-up mode, Maersk Line's head of scheduling ...
Uncertainty haunts BLT Some of Berlian Laju Tanker's foreign creditors are questioning the motives of those that provided overwhelming support of an extension that saw a vote on its Indonesian overhaul postponed till 2013.
BLT overhaul drags on Berlian Laju Tanker (BLT) is unlikely to complete its financial restructuring by the end of this year, one of the ailing Indonesian operator's executives said Tuesday.
Ross defends Diamond Wilbur Ross has taken a match to reports that Diamond S Shipping has postponed delivery of two suezmax tankers on order in South Korea.
Buyers beware Law firm Ince & Co has warned owners to be wary of altering newbuilding contracts after a German owner's cancellation in China was found to be without grounds in a UK court.
Debt deal takes shape Negotiations surrounding CMA CGM's billion-dollar debt restructuring appear to be bearing fruit.
Diana bags Cargill deal Diana Shipping has secured work for a couple of its panamax bulkers.
Diana tops Street Diana Shipping edged ahead of Wall Street forecasts in the third quarter as it felt the effects of charters renewed at lower rates.
Navios banks default cash Greek bulker owner Navios Maritime Holdings will pocket a $175.4m cash payment from restructuring its credit default insurance.
Gravdal back for MSV Hans Martin Gravdal-led Swire Seabed has had a change of heart and moved for a multifunctional support vessel.
Argentina's ports shut A general strike has shut all ports in Argentina on Tuesday.
Fredriksen fixes PSV John Fredriksen's private Seatankers has chartered out one of its new platform supply ships (PSVs) for a year.
Maersk's answer to eco Maersk Tankers has freed up cash for a major upgrade to its VLCC fleet after selling its handysize vessels to Wilbur Ross' Navigator Gas.
Splosna sells again Slovenia's Splosna Plovba has disposed of its second bulker in a week.
Odfjell eyes bonds Odfjell is looking to tap the Norwegian bond market again for funds.
Maersk lays-up VLs Maersk Tankers is placing two VLCCs into lay-up as it battles with a hugely oversupplied market, its CEO says.
Rapska wins new route The Croatian government has awarded a four-year deal to Rapska Plovidba for a coastal ferry run.
UK Club in ratings boost Ratings agency Standard & Poor's has backed the underwriting outlook for the UK P&I Club.
MMHE hurt in Q3 Malaysia Marine and Heavy Engineering has seen its bottom line slump after making a provision for higher than expected costs on an offshore conversion project.
Ross in Maersk raid Wilbur Ross-backed Navigator Gas has snapped up a fleet of handysize vessels from Maersk Tankers.
Greek ferry evacuated Crew have brought a fire under control on an Anek Lines ro-ro off the coast of Greece.
Mixed for Marenave Marenave has continued its profitable run as it dodges the red ink staining the balance sheets of rivals.
Japanese yards must wait The twice-delayed merger of the shipyard operations of Japan's JFE Holdings and IHI Corp has been put back again.
Subsea 7 bags $70m job Subsea 7 has added another North Sea contract to its bulging backlog.
Papa Terra burns BWO Cost overruns on an FPSO bound for Petrobras will slice $75m from BW Offshore's third quarter profit.
Interislander faces strike New Zealand's Interislander ro-ro ferry line could be grounded next month by a crew strike
Damen does dredger deal Dutch shipbuilder Damen has won an order for a new dredger from a domestic group.
Korea's cash crunch Korea's financial watchdog wants stress tests performed on shipyards as financing shrinks in the downturn.
Dof does much better Higher revenues and lower currency loss have helped Dof ASA return to profit in the third quarter of 2012.
Otto books newbuilding Otto Candies is set to add a subsea support and construction vessel newbuilding to its US-flagged offshore fleet.
Blue Ship ties up pair Blue Ship Invest, the Ulstein shipowning vehicle, has tied up the first two of six new PSVs on order in Norway.
HSH dealt minor blow Omega Navigation Enterprises' attorneys have emerged victorious in a legal battle with HSH Nordbank but the war over the bankrupt tanker owner's Chapter 11 case is ongoing.
U.S.-Colombia FTA 'off to a successful start' USTR on Monday hosted the first meeting of the U.S.-Colombia Free Trade Commission (FTC), the body responsible for supervising the implementation of the U.S.-Colombia Trade Promotion Agreement and resolving issues.
Washington Notebook: News notes from the DOT
Wright named AASHTO executive director
3PLs, shippers increase focus on talent development "Having top-tier talent that can think, innovate and go to market differently is going to be a critical competitive advantage," Zack Deming, a principle at executive recruiting firm Korn/Ferry International, said.
ASC renews attack on liner exemption The council, which represents shipper groups throughout Asia, continued its offensive on liner shipping exemptions, which it says unduly burden the region's shippers through higher freight rates and surcharges.
Ex-Im Bank guarantees $500 million loan to LOT Airlines
Ex-Im Bank underwrites satellite exports to Hong Kong
Huge 3Q for CMA CGM The liner carrier had $617 million in operating profits in the third quarter of 2012, while revenue increased 9 percent year-on-year to $4.2 billion. For comparison, the line sustained a $224 million operating loss in the same 2011 quarter.
Captain fined $26,000 for Shen Neng 1 grounding Coal carrier leaked fuel into Great Barrier Reef waters.
Legal challenge to California low sulphur rule put to rest Final closure of six-year legal battle about California's right to impose requirements on ships beyond three nautical miles off the coastline.
Bunker prices stable in Fujairah Prices firm elsewhere across the continent.
MGO prices rise sharply across Europe Distillates lead the way as prices rise in most markets.
Argentinian ports engulfed by strikes Strikes to close ports and disrupt road and air traffic.
Energy saving initiatives set to 'mitigate the downturn' High bunker prices and environmental regulation create 'interesting opportunities'.
Aegean enters Falmouth bunker market Up to four modern tankers available for deliveries at UK port near the ECA border.
Maersk tankers to get efficiency boost Upgrading ships could produce significant savings on fuel consumption.
Set-back to Indian port's plans to encourage bunkering Rebates 'cancelled out' by decision to charge light house dues.
O.W. Bunker launches Gulf of Mexico supply operation Charters 22,000 dwt vessel to supply HSFO and LSFO in international waters off Texas and Louisiana coastlines.
US dockers harden position on contract renewal US dockers' leader lays down new marker in contract negotiations.
Terminal developer assessing LNG bunker demand 'Our business decisions ought to reflect the needs of the market,' says Polish company.
Glencore/Xstrata merger nears final approval Deal would create a $70 billion natural resources juggernaut.
Baltic LNG terminal location revealed soon European Commission has conducted independent analysis on the issue.
Bunker prices continue to rise Prices move upwards for second consecutive day in Asia.
Singapore eyes LNG terminal expansion Expansion will allow Singapore to respond to new opportunities in global LNG markets.
BP Shipping in move to cut fuel costs Optimisation solutions to be installed on 52 of its vessels will increase vessel efficiency, minimise risks.
Ultrabulk makes new eco-ship order 'Natural move' to conclude its first contract for a new eco-designed supramax bulk carrier.
Titan court proceedings temporarily stopped To enable Titan and Warburg Pincus's subsidiary to 'attempt mediation'.
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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