7.6% annual growth seen for Asia-Pac logistics markets Research firm Frost & Sullivan has forecast 7.6 per cent annual growth for 12 Asia-Pacific transportation and logistics (T&L) markets, reaching US$4.09 trillion in 2016.
50% of dry-bulk carrier orders could be canned As many as 50 per cent of commodity carriers on order at yards worldwide may never be built after 56 per cent of new dry-bulk vessels didn't enter service in January as scheduled, according to Genco Shipping & Trading Ltd.
Bulk-ship operators get aggressive as costs dip Operators of ships that haul dry-bulk commodities are 'more aggressive' in reaching agreements with customers to employ vessels amid a glut of carriers, said ICAP Shipping International Ltd.
Germany okays Bulgarian und Romanian cabotage services Germany's Federal Ministry of Transport, Building and Urban Development (BMVBS) mandated the country's federal office for goods transport (BAG) to examine the effect that Bulgarian...
Leading UK companies repeat order for 1,000 Scania trucks Two UK-based companies - Eddie Stobart and A. W. Jenkinson Forest Products - have signed a joint-procurement agreement with Scania in the UK for 1,000 trucks. Scheduled for deliver...
CN investing in its rail network Canadian National Railway Company (CN) plans to invest CAD 1.75 billion (EUR 1.34 billion) in 2012 to maintain and upgrade its railway network, support growth and productivity init...
Logico hauls multimodal containers for Stobart Rail Logico, a division of Freightliner Ltd, the UK's largest intermodal rail freight operator, hauled a special train from Freightliner's Garston Terminal to Freightliner's South Wales...
Drewry opens office in Shanghai Drewry, a leading independent advisory and analytical research organisation in the maritime sector, is opening a new office in Shanghai (China). (it)
Somon Air introduces service to Ukraine Today (23 February), Tajikistan's Somon Air is launching a once per week service on the Dushanbe (Tajikistan) - Kiev (Ukraine) route. Starting 25 March, the airline will add the ne...
Inchcape Shipping Services to open offices in Venezuela and Saudi Arabia Inchcape Shipping Services (ISS), a leading maritime services provider, is set to open its first office in Venezuela. The facility, which will be located in Puerto La Cruz, will me...
Transfennica starting Bilbao-Tilbury service Transfennica has decided to add a weekly direct call to Tilbury (UK) from Bilbao (Spain) within the Iberia schedule, due to increased demand in the market. As from 24 February, the...
Despite denial UPS wants to take over TNT Express The US corporation United Parcel Services (UPS) wants to take over its Dutch counterpart, TNT Express, Europe's second largest parcel service provider. UPS, one of the world's larg...
Unikom acquires new navigation services Thomas Gunn Navigation Services has been awarded a new contract by the shipping management company Unicom to equip an additional 43 vessels with its outfit management service. Thom...
Jet Aviation: new sales directors in Zurich and Dusseldorf Jet Aviation recently appointed Micha Miketta and Peter Davidse as the new maintenance, repair and operations (MRO) sales directors in Dusseldorf (Germany) and Zurich (Switzerland)...
Jet Aviation Basel adds tail and wing dock for BBJ and A320 series aircraft Jet Aviation Basel has added a tail and wing-docking platform to its wide-body hangar, enabling complete access to all areas of an aircraft tail on all four levels, as well as full...
Kwintet relies on DB Schenker Logistics in Sweden Kwintet AB, the European supplier of professional workwear, has chosen DB Schenker Logistics as its strategic logistics partner in Sweden. Kwintet consolidated its warehousing acti...
DPD opens new parcel terminal in Estonia The parcel delivery company DPD has opened a new logistics centre in Estonia, featuring state-of-the-art sorting equipment. The new EUR 2 million terminal in the Rae Industrial Par...
Airports across Tanzania to be upgraded with European funding The European Investment Bank (EIB), the European Union's lending institution, is to provide EUR 50 million in long-term funding over 20 years to Tanzania. Improvement of five airpo...
Owners need assurances that new equipment will be reliable Shipowners need assurance that equipment will be reliable. Step forward, class societies and insurers
Ships can't fly Current plans for emissions trading systems look impossible to realise
Pressure grows on India to diversify oil supply Trouble ahead for country that relies on Iran for 10% of its needs
West African activity attracts ultra-deepwater drilling rigs Drilling rigs and support vessels finding work one year on from the start of Jubilee field production
Rig-sharing deals open up Norwegian waters Rig Management Norway creates co-operative arrangements to bridge the gap between asset owners' need for lengthy charters and the cost of increasing production in smaller fields
ExxonMobil sends single-hull tanker for recycling in China AIS data indicates vessel heading to a southern province
Landmark DryShips Chinese ore carrier loan chalked up to $5bn fund First major syndicated loan to Greek owner without western bank involvement
Distressed product tanker sales loom as banks brace to limit support Italian owner d'Amico warns against overordering in a sector on the cusp of recovery
Talking heads: what does the industry think about it? Lloyd's List canvasses ocean carrier and shipper representatives and the European Commission about the FMC study on abolition of conferences in Europe
FMC study fuels debate on whether Europe was right to ban conferences Congress unlikely to review Shipping Act this year unless capacity shortages return
StealthGas eyes more ships but bemoans valuation Improved quarter highlights solid LPG segment
Vessel value writedowns hurt Teekay Offshore Partners bottom line Cash distribution of $0.50 declared on fourth quarter
Pacific supramax rates recovery offset by Atlantic decline Period charter market anticipates rates recovery from April
Asset value threat for panamaxes Bids on seven-year-old ship fail to live up to market expectations
Teekay LNG Partners to raise dividend Evensen says $400m available for expansion
Offshore and LNG presence helps Teekay dodge tanker bloodbath Diversified structure a competitive advantage in financially constrained world, says Peter Evensen
Teekay Tankers to buy secondhand tonnage $360m budget for long-haul product tankers and mid-size aframaxes and suezmaxes
Durban tackles bottlenecks Technical glitches at South Africa box hub after launch of Navis Sparcs
Hutchison's Dar es Salaam unit hits back at regulator's criticism TICTS rounds on 'inaccurate and unsubstantiated allegations' about crane and ship productivity levels
Boskalis and Jan de Nul land Argentina dredging contract Partners sign five-year deal at Bahia Blanca
Secondhand vintage handy market suffers from lack of Chinese interest Tonnage offers 'low-risk investment', say sale and purchase brokers
Genco launches $50m follow-on offering Effort to lower interest bill after voluntary pre-payment in December secures covenant waivers
All talk? Somalia conference was short on solutions, for politics and for piracy
US box exports reach record 12m teu high in 2011 Eurozone crisis hits fourth quarter volumes
Navios pays out despite dip in profits Solid time charter coverage and focus on efficiency guide the company into 2012
Oil and shipping industries fund Somalia job creation Community projects aim to lessen appeal of piracy
Sembcorp Marine quarterly profits drop on fewer high-value orders Singapore rig builder sees strong deepwater sector growth
Japan Club emphasises partial exposure to EU sanctions Insurer not liable for parts of claims reinsured under IG programmes
Diana boxship offshoot scores profit Upgrade work on Maersk trio was a drag on bottom line
Navios profits fall NAVIOS Holdings confirmed a drop in quarterly profits today, although Chairman Angeliki Frangou underscored that the company is well-positioned to weather the storm
Scorpio logs impairment THE PARADE of shipping impairments continues, with Scorpio Tankers writing down the carrying value of its fleet due to "deteriorating market fundamentals and a decline in value for secondhand product tankers"
Sembcorp profits falls 13% SINGAPORE rig builder Sembcorp Marine said today 2011 profits dropped 13% year on year to S$752M ($598.36M)
Oz seeks top LNG spot AUSTRALIA will overtake Qatar as the world's largest LNG supplier within two decades, a conference in London heard today
Defaults cost Lauritzen $60M DEFAULTS by contract partners cost J Lauritzen $60M last year that, combined with weak shipping markets, dragged the group deep into red
APL resists temptation APL SAID today it means to resist temptation to lay off ships because of the Far East/Europe box lane's overcapacity
Genco's drybulkers seen as overvalued GENCO Shipping & Trading's nine Capesize drybulkers are overvalued in the current freight market, a shipping analyst said today
Impairments weigh DryShips VALUE declines on three bulkers pulled George Economou's DryShips into the red in the latest quarter
MISC loses $404.6M MALAYSIAN carrier MISC posted 1.2Bn ringgit ($404.6M) in net losses for its latest financial year, reversing 2.4Bn ringgits in profits a year earlier
Iran and China sign crude supply deal CHINA'S government-owned trading company Unipec has signed a deal for crude supplies from Iran's NIOC
Cosco Corp profits dive 44% COSCO Corp, the Singapore-listed shipbuilding and bulker operating arm of Chinese conglomerate COSCO, said today 2011 profits dived 44% year on year, to S$139.67M ($111.18M)
Green Reefers cuts losses NORWAY'S Green Reefers said today it cut its losses in both 4Q11 and full year 2011, mainly because the company was freed of the impairment losses that hurt it the previous year
Italy pledges guards inquiry aid ITALY today offered to co-operate in a police inquiry into allegations that armed Italian guards on a tanker shot dead two Indian fishermen
Vietnam cuts duties VIETNAM is abolishing its 4% import duties on gasoline and jet fuel, while also cutting diesel and kerosene levies from 5% to 3%
VLCC charterers hold back VLCC FIXING for March laycans has been quieter than for February, as charterers are holding back to force rates down
Exporters Urge Congress to Renew Ex-Im Bank Charter Small exporters will be among the most to benefit from the charter renewal of the Export-Import Bank of the United...
Northeastern Truckload Carrier Shuts Down Northeastern truckload carrier Atkinson Freight Lines closed its doors after being battered by rising costs and competition from larger national...
US Steel Imports Jump 20.2 Percent U.S. steel imports in January jumped 20.2 percent from a year earlier amid a strengthening economy and rising demand from...
NY Softens Rule on Ships' Ballast The state of New York has backed away from plans to impose stringent ballast-water standards that industry officials said threatened...
European Shippers Say FMC Underestimated Rate Volatility The Federal Maritime Commission underestimated the magnitude of rate volatility in the Europe-Asia trade when it assessed the effects of...
MOL, Cosco Ships Collide Near Hong Kong An MOL containership collided with another containership owned by Cosco on Wednesday southeast of Hong Kong. The MOL Maneuver...
Diana Containerships Swings to $1.3 Million Profit Diana Containerships booked a profit of $1.3 million in the fourth quarter of 2011 against a year-earlier loss of $15,600,...
Asia-Europe Rates Rise on Maersk Capacity Cut Spot freight rates on the westbound Asia-Europe trade lane rose 3 percent this week from the week before after Maersk...
Pipavav posts first net profit Rising cargo volumes, improved economies of scale and rising levels of operational efficiency combined to give APM Terminals Pipavav its first net profit. The port, ...
Asia/Europe now far more competitive than transpacific Recent analysis done by SeaIntel Maritime Analysis shows that competition between Asia and Europe is now much more intense than between Asia and North America. ...
ISS sets up in Saudi Arabia Attracted by the potential for economic growth and the country's growing role in international trade, the leading maritime services group, Inchcape Shipping Services, ...
Africa is hit hard by the pirates East and South African appear to be paying a high price for the rise in piracy incidents in the Indian Ocean. In addition to the direct costs involved in offering ...
All-in rates from Asia to Northern Europe still staying up Ocean carriers still appear determined to see all freight rates from Asia to Europe increased. The World Container Index's latest information out today reveals ...
MOL and COSCON boxships clash No injuries or oil spills were reported from a collision between the 2010-built 6,724TEU MOL Maneuver and the 4,221TEU ...
OOCL and RCL club together on China-ASEAN loop OOCL is boosting its service offering on the fast growing trade between north east and south east Asia by launching a new sling by joining forces with intra-Asia ...
Somalia summit: 'less talk more action' That is the hope of many of the senior representatives from 40 nations attending a conference on Somalia in London today to agree a road map for the 'world's worst ...
PANYNJ pips pre-recession numbers The Port of New York and New Jersey [PANYNJ] achieved 'record' throughput in 2011 - surpassing the previous record volume in 2007 before the start of the global ...
ESC sees red over FMC's analysis of banning conferences The European Shippers Council has queried a number of conclusions and observations made in the Federal Maritime Commission's recent study on the side effects in ...
Cantor condemns Title XI bid Ray LaHood and Marad loan programme under fire as Congress questions Overseas Shipholding Group's dealings with Iran.
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ISC mints PCTC transaction Niels Johnsen says expansion may be on the menu as US-listed owner frees up cash in $59m sale-and-leaseback deal.
Teekay Offshore cuts Q4 loss New York-listed FPSO and shuttle tanker owner chops deficit and looks forward to expanding fleet.
Distressed deals will open up D'Amico CEO Marco Fiori says 2012 will be a "fertile ground" for mergers and acquisitions.
Genco shares plunge again Peter Georgiopoulos led dry cargo company to raise $53m to boost finances.
Aegean tops forecasts Greek bunker titan beats Wall Street bets in the fourth as focus turns to niche regions like the Mediterranean, analyst notes.
Stealth primed for expansion Harry Vafias-led LPG specialist readies expansion drive following fourth-quarter win and freshly minted sale of Gas Kalogeros.
Ocean Rig profit down a third Revenue show strong growth but income heads in the same direction as drill bits.
TNK eyes acquisition trail New York-quoted owner poised to pounce on aframax and suezmax tankers despite fourth-quarter loss.
Havyard books Vestland pair Norwegian owner inks a platform supply vessel at Per Saevik's shipyard with an option for another.
Evensen hungry for more Teekay LNG chief says Maersk swoop has not satisfied its appetite for tonnage in booming business.
Navios takes a Q4 income hit But Angeliki Frangou led bulk carrier operator maintains an unchanged dividend.
Teekay Corp doubles loss New York-listed tanker owner hurt by falling rates in 2011, but is redelivering loss-making vessels as it seeks to rein in costs.
ACM in Middle East merger Mark Jewell-headed wing joins forces with ICON Chartering to boost Dubai venture.
Big guns in anti-piracy push AP Moller, Shell and BP to inject cash into community projects to help curb Somali threat.
Wincanton to distribute Chevron Marine lubricants UK supply chain solutions provider signs three-year deal with Chevron division.
Big price gains across Europe Very good bunker demand in Piraeus.
Ship energy efficiency has been 'going backwards' Analysis of large tankers and bulk carriers concludes 'the development of EEDI in these ships has moved in the wrong direction'.
Prices firm across Middle Eastern and African ports Not a very busy market in Durban, player reports.
Market abuzz with rumours of Vitol, Grindrod deal Some say sale of stake in Grindrod's marine fuel subsidiaries to Vitol is 'a done deal'.
DSME seals $709 million naval fuel tanker deal 37,000-tonne tankers able to 'simultaneously' refuel several naval warships, says UK Royal Navy.
IFO prices down in Singapore, up at other Asian ports Demand mixed at major Asian bunkering hubs on Thursday.
Singapore fuel oil stocks at 40-week high High influx of fuel oil cargoes expected to continue in March.
Panama to invest $65 million in multi-storage oil facility Melons Oil Terminal Inc. to construct two million barrel capacity oil storage facility.
Vitol's trading volumes up 14.5% in 2011 Trading volumes up despite 'challenging' environment, says company President and Chief Executive.
Aegean shares rise to seven-month high Aegean's Q4 profit, revenues trump analysts' estimates.
Bulker firm settles unpaid bunker bills Globus pays for outstanding bunker payments owed by charterer to secure release of arrested vessel.
NOL targets $500 million costs reduction 'Significant part' of the number is aimed at reducing fuel consumption, says President of its box unit, APL.
US refinery completes shutdown Hovensa completes shutdown of 350,000 bpd refinery in St. Croix, US Virgin Islands.
Americas markets flat for third straight day Oil fell from the highest close in nine months on the New York Mercantile Exchange.
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