FleetPride acquired by TPG FleetPride, the USA's largest retailer of heavy-duty truck and trailer parts, is to be acquired by TPG, a leading global private investment firm in the USA. The transaction is expe...
Turkish Airlines orders more B777s The US airframe manufacturer Boeing has confirmed that Turkish Airlines is committed to ordering 15 B777-300ER (extended range) aircraft. When finalized, the agreement will be wort...
Linfox tests steel transports for Tata in India Linfox, Australia's largest privately owned transport company with nearly 5,000vVehicles, is trialling a new intra-plant transport service at Tata Steel's steel plant in Jamshedpur...
Tiaca and Icao agree to enhance cooperation in the field of air cargo transportation The International Air Cargo Association (Tiaca) and the International Civil Aviation Organization (Icao) have agreed to an enhanced cooperation in the field of air cargo transporta...
New railway bridge over Rhine in Basel After a three-year construction period trains have started to use a new twin track concrete bridge that crosses the River Rhine in Basel (Switzerland). Four tracks will be availabl...
New full freighter customer for Brussels Airport Demavia NV, a firm that acts as GSA for Fly Congo, has announced that the carrier's freighter operation began departing direct from Brussels airport (Belgium) to Kinshasa, capital ...
Rail strike in France hits the operator's freight services A national rail strike began in France yesterday (24 October) and will last until 08.00 on 26 October. The strike by workers at the French state railway SNCF also puts a halt to al...
Switzerland's Rhine ports flourishing in Q3 Port of Switzerland, the operator of Swiss inland ports on the River Rhine, reported a total throughput of 5.44 million t in the first nine months of the current year. This equates...
UPS sees earnings and turnover plummet in Q3/2012 UPS, the world's largest parcel service provider, had to a book a special pension-restructuring charge of USD 559 million in Q3 this year. This sum punched a huge hole in US-based ...
Geodis STVA confirms its position of automotive operator at Tanger Med Port Geodis STVA Tanger Med (GSTM), the subsidiary of STVA and Geodis in Morocco, has been awarded a two-year contract to manage the multi-user terminal at the Moroccan port Tanger Med,...
C.H. Robinson Europe receives AEO certification C.H. Robinson Europe BV, one of Europe's leading freight forwarders, has been granted authorised economic operator (AEO) certification by the Dutch customs, which officially regard...
Trefzger leaving DB Schenker The German service provider Schenker has announced that Detlef Trefzger, its management board member responsible for contract logistics and supply chain management, is giving up hi...
Changes at SNCF: Lombard has become CEO of Geodis Marie-Christine Lombard has been named CEO of the French service provider SNCF Geodis, with effect from 24 October 2012. Lombard was previously chairman and CEO of TNT NV. Pierre B...
New board member for Lufthansa Cargo Lufthansa Cargo, the freight division of the German carrier Lufthansa, has announced that Martin Schmitt will become a member of its executive board on 1 January 2013. Schmitt, who...
US set to smash coal export record Drybulkers buoyed by rising thermal coal trade
Thailand helps boost Southeast Asian regional LNG trade PTT is poised to secure a deal to receive 2m tonnes per year from Qatar
The oil major and the thieves Latest episode highlights mess of Nigeria's oil export industry
Grimaldi recipe may not be to the taste of Greek rivals Emanuele Grimaldi sets out his proposal for staunching the losses of the leading Italy-Greece ferry operators. Is it an offer too good to refuse?
US sanctions bite Iran As country loses at least $100m a day, its top three customers - China, India and Japan - remain loyal
NOL hits first profit since late 2010 Third-quarter results show liner firm is back in the black to the tune of $50m
Nobu Su threatened with contempt application NewLead goes after controversial Taiwanese tycoon personally in fallout from charter dispute
Royal Caribbean close to Oasis-class newbuilding order Richard Fain hails 'compelling financial results' of ship type as company announces bumper quarterly results
D'Amico poised to order further product tanker newbuildings Exclusive: Italian owner believes the time is right as asset values move closer to the bottom
Subsidies to continue for German owners Government decision after year-long row will pave way for better training on vessels under home flag, says VDR
Kirby profits survive drought and hurricane Diesel engines show surprising drop but company boosts annual profits guidance
Omega Navigation Chapter 11 case rumbles on Junior lenders' super-priority claim sparks new round of litigation as reorganisation plan remains stalled
Cosco Pacific posts $98m net profit Third-quarter revenue up 14% year on year
Filipinos can work as armed guards as well as crew, Countering Piracy told Savings of $20,000 per transit are possible, says Gulf of Aden Group Transit chief
PMSCs criticise navies for not sharing information on piracy Nato argues that private maritime security companies are underreporting
Buying into Cosco The too-big-to-fail shipping company issues bonds just as Standard & Poor's deems its liquidity 'less than adequate'
Notable rise for box throughputs in September RWI/ISL index shows global increase to 113.4 from 110.9 in August
ABP seeks $200m loans from EIB for port expansion Southampton and Hull to benefit if EU-owned bank agrees to fund projects
To the point Owners are responsible for the safety of the crew, as well as the ship and its cargo
Container lessor TAL posts 11.8% rise in revenues Chief 'generally' expects strong market conditions to continue this year and into 2013
Cargotec sees 28% fall in operating profit in third quarter Supplier undergoes restructuring as orders for equipment fall 11%
China Cosco to issue $2bn offshore bond despite S&P rating Standard & Poor's labels company as 'highly leveraged'
Cockroft to retire from ITF General secretary to step down next May
Tankers order is madness With no sign of growth in the market, Blackstone's proposal should not be encouraged
Paragon to boost share price with reverse split Dry bulk owner plans to go ahead with one-for-10 split on November 5
HSH appoints new chief executive Chief financial officer von Oesterreich replaces Lerbinger after resignation
CSD offers second batch of $400m bond sale Taking 58 newbuilding deliveries lifts capital expenditures
Subsea operation buoys Ezra Holdings Net profit for 2012 financial year rises 62% to $65m
Samsung and Amec form joint venture on offshore design New company focuses on front-end engineering and offshore detail
Wenzhou LNG plan approved CHINA'S National Energy Administration has approved an LNG project with 1.6M m³ of yearly capacity
Poti dockers strike again DOCKERS reportedly staged their second strike in three weeks today at Poti, Georgia's Black Sea port
NOL reverses losses into profits of $50M NOL TODAY said it made $50M for 3Q12, reversing $91M in losses in the same period last year
Floods hinder Argentina SEVERE floods in Argentina are today hindering its agribusiness supply chain
Tuning urged for shipping's financial products CURRENT financial products fail to meet the strapped shipping sector's needs and need fine tuning, Shouguo Zhang, vice chairman of the China Shipowners Association, told Fairplay
Ex-COSCO Guangzhou official convicted JINPEI Hu, the former general accountant of the COSCO Guangzhou Shipyard, has been sentenced to five and half years in prison and fined 400,000 yuan ($64,000) on a Chinese bribery conviction
Royal Carib confirms talks for Oasis ship ROYAL Caribbean today raised its earnings guidance and confirmed that it is in final talks for a third Oasis-class newbuilding
East Asia raises purchases of spot LNG EAST Asian utilities' spot LNG purchases have risen by more than 15% year on year as uncertainty lingers over restoring nuclear power generation in Japan, the Gas Asia conference heard today
It's merely a FLNG for oil and gas majors ONLY MAJOR oil and gas groups with huge balance sheets are capable of addressing the financing challenges of floating LNG schemes, Gas Asia delegates heard today
Ezra's profits climb 62% SINGAPORE-listed offshore player Ezra Holdings said today its profits for the year ended 31 August rose by 62% from the same period a year ago
Samsung seeks to add offshore muscle SOUTH Korea's Samsung HI told Fairplay today it plans to strengthen its position in the fast-growing offshore sector with the signing of a joint venture
Nordea books lower 3Q12 shipping loss provisions NORDEA said today its provisions from loans to the shipping sector decreased slightly in 3Q12 from the previous quarter
Singapore/Oz rate hits high RATES to ship clean products from Singapore to Australia have hit a 2012 high, with tonnage being fixed away because of refinery closures in Australia
Nam Cheong issues notes MALAYSIA'S offshore support vessel builder Nam Cheong said today it has issued S$110M ($90M) in fixed-rate notes
VLGC rates near bottom VLGC RATES are likely to bottom out soon after a poor October sent them down by 30%, according to Oslo shipbroker Fearnleys
Bahri and Saudi Aramco Reach Agreement on the Merger of Vela's Fleet and Operations with Bahri RIYADH - The National Shipping Company of Saudi Arabia ("Bahri") announces today that it has reached an agreement with, the Saudi Arabian Oil Company ("Saudi Aramco"), and Vela International Marine Limited ("Vela"), a wholly owned subsidiary of Saudi Aramco, on the terms and conditions of the merger of the fleets...
ILA-USMX Labor Negotiations Timeline Negotiations between the International Longshoremen's Association and waterfront employers representated by United States Maritime Alliance have been tense from the start last spring. When the two sides agreed to extend the current contract by 90 days, some sense of stability returned to East and Gulf Coast ports. But with major...
World Container Index Reading Slips for Fifth Week The World Container Index comprehensive reading for Oct. 25 - $1,980 per 40-foot laden container ' was down for the fifth consecutive week, declining 1.0 percent or $20.85 from the week before, the World Container Index reported. The WCI spot rate from Rotterdam to New York was flat for the third...
Lack of Freight Policy Could Incite Diversions, Cordero Says LOS ANGELES - The central message of a study by the Federal Maritime Commission on the impact of the harbor maintenance fee on cargo routing might well be that the lack of a national freight policy, rather than the burden of the tax itself, is compromising the competitiveness of U.S....
Drewry Container Rate Benchmark The Hong Kong-Los Angeles benchmark is based on Drewry Shipping Consultants' research and derived from NVOCCs. The rate is in dollars and based on a full 40-foot containerload, excluding terminal-handling charges in Hong Kong.The Oct. 22 average spot market rate from Hong Kong to Los Angeles dipped 1.6 percent or...
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 Oct. 23 between Shanghai and the following four trade lanes. Data Included: 10/23/2012 U.S. WEST COAST...
NOL hits first profit since late 2010 The Singapore-based NOL Group, which owns the liner shipping and logistics company, APL, has returned to profitability, posting its first quarterly surplus since ...
ESC's Wiesehahn-Vrijman says service is not good enough Marco Wiesehahn-Vrijman, a member of the European Shippers' Council (ESC) Maritime Transport Council, has criticised most aspects of today's liner companies' services.Addressing ...
World's only nuclear-powered containership bound for scrap The world's only nuclear-powered containership, the Murmansk-based Sevmorput, is set for its last voyage: to the scrapyard.The vessel, which has been lying idle ...
US Shippers Association adopts GT Nexus cloud E-platform provider GT Nexus has announced that the US Shippers Association (USSA) has rolled-out its cloud supply chain platform to centralise and automate global ...
Index-linked service contracts grow The use of index linked service contracts, hedging and derivative tools in the liner shipping industry is accelerating according to Michael Blach, vice president ...
MJC2 scoops CI Innovation IT award UK, Berkshire software house MJC2 was the winner of Containerisation International's Innovation IT of the Year accolade at last week's Northumberland ...
Signs of recovery in China's PMI The influential HSBC purchase managers' index [PMI] for October reached 49.1 in October - up from the previous month's 47.9 - suggesting that the world's ...
Zim adds Ashdod to USEC Israeli ocean carrier Zim Lines is to add the port of Ashdod to its US east coast ZCA Service from next month in a move designed to improve its coverage of the ...
Exmar holds out Exmar is still looking to order at least four more midsize LPG carriers even though it didn't exercise options at Hyundai Mipo Dockyard in the third quarter.
Golar game changer Golar LNG Ltd may be one of the first US-listed LNG carrier owners to enter the floating liquefaction (FLNG) arena, according to Wells Fargo Securities.
Euronav to sell again Euronav will continue to offload assets despite boosting its coffers with a VLCC sale yesterday, DNB says.
Vernicos refloats bulker A Wilson mini-bulker is getting ready to set sail for a shipyard in the Piraeus to undergo an inspection after grounding in the Aegean over the weekend.
Belships steady in Q3 Belships is managing to keep its head above water in the faltering shipping market.
Leaner Limarko loses Lithuanian reefer owner Limarko has seen its loss grow in the first nine months as it trimmed its fleet.
Marco wants more Marco Fiori is prepared to lay down more of d'Amico International Shipping's cash on eco newbuidings despite two trips to Hyundai Mipo this year.
DFDS shuffles pack Danish owner DFDS has chartered in a laid-up SeaFrance ro-pax to boost its English Channel competitiveness.
Dof's Boot Dof Subsea has won a contract to survey the wreckage of an infamous German World War II submarine.
Kirby edges ahead US tank-barge owner Kirby Corp has inched up third quarter profit despite a revenue drop.
DIS begins overhaul d'Amico International Shipping has initiated a clear-out of its older ships with the profitable sale of an MR tanker.
Siem bounces back Siem Offshore has roared back into the black in the second quarter.
NOL snaps streak Neptune Orient Lines has snapped a two-year losing streak to return to profit in the third quarter.
Tallin takes icebreaker Estonia's Port of Tallink has snapped up an icebreaker for EUR 50m ($65m).
Third tricky for Vale Brazilian mining heavyweight Vale has turned in its worst quarterly performance in three years.
Two escape sinking tug Two crew have escaped a sinking tug at a construction site in New Hampshire.
Ezra grows subsea Ezra Holdings has added to its growing backlog of subsea construction contracts.
HHI saved by stake sale Net profit at Korea's Hyundai Heavy Industries (HHI) has grown following the disposal of a stake in a sister company.
Hutchison hurt in third Li Ka-Shing's Hutchison Port Holdings Trust has turned in a disappointing set of third quarter numbers.
Box boost for Cosco Pac A turnaround in its container manufacturing division has revived the fortunes of Cosco Pacific in the third quarter.
Vopak banks a billion Dutch tank terminals giant Vopak has sold $1bn of new notes to refinance other borrowings.
Mothership blasted The Dutch navy has destroyed a pirate mothership after coming under fire off the coast of Somalia.
More for Milaha Milaha has continued to book improved earnings in 2012 with its third quarter bottom line up by close to one fifth.
WW's dividend debacle Wilh Wilhelmsen ASA has been forced to temporarily slice its dividend by three quarters only a week after suggesting the bumper payday for shareholders.
DNB writes off $51m DNB, the Norwegian shipping and energy bank, has seen provisions for bad shipping loans jump substantially compared to a year ago.
V Ships tightens up V Ships Leisure USA is increasing its oversight of independent pilots following the grounding of the Yorktown in August.
Business as usual OSG is still fulfilling its charter commitments on four tankers owned by DHT Holdings, its chief executive has told investors.
Samsung targets US Korea's Samsung Heavy Industries is teaming up with AMEC of the UK to target offshore work in the US.
CSSC breaks the ice China State Shipbuilding Corporation (CSSC) has been chosen to design what is hoped will be the country's first domestically-built icebreaker.
Steering error to blame A collision between a LPG carrier and a ro-ro ferry off Indonesia last month may have been due to a steering error by the latter.
Paragon set for split Paragon Shipping is to carry out a reverse stock split after receiving approval from its board of directors.
ITF's Cockroft to retire David Cockroft is set to retire as the general secretary of the International Transport Workers' Federation (ITF) next year.
Ezra profits surge Ezra Holdings has reported a 63% increase in full-year profits thanks to the first full year of operation of its subsea unit.
German box boys tie up MPC Munchmeyer Petersen Steamship (MPC Steamship) and Thien & Heyenga are to market their containership fleets together.
DHT drops on OSG woes DHT Holdings saw its shares end the day 15% lower on Wednesday as investors took stock of its exposure to troubled OSG.
The walking dead 'Walking dead' is a phrase that could be used to describe many cash-strapped shipowners in a depressed market but Overseas Shipholding Group (OSG) is not one them, a pair of leading bankruptcy attorneys said Wednesday.
Get cultured in compliance There are several reasons why executives throw caution to the wind and ignore compliance regulations. To name a few we have ignorance, greed, and intentional disregard...
On MAP 21 - What's different this time? During the past 20 years, the concept of a national freight network in the United States has been the subject of much discussion and debate...
The big squeeze
Why would anyone invest?
New Year's party? Hardly
LaHood praises air cargo
Cargo doldrums Airlines say cargo business is weak and the latest figures from the International Air Transport Association validate their bearish state of mind.
Airlines face pilot shortage
C.H. Robinson's big score Logistics services firm C.H. Robinson paid a premium to win a bidding war in late September for Chicago-based freight forwarder Phoenix International.
Print-it-yourself production
A transportation policy please
Not so sweet In the past few years, the United States has consumed around 11 million tons of sugar annually, or roughly 70 pounds per person.
Reefer owner's losses grow Company blames high bunker prices and strong dollar.
Prices fall for fourth day in Fujairah Softer pricer seen in most ports across the region.
Bunker prices stable in Rotterdam European markets see prices move within narrow margins.
Cruise line results 'better than forecast' 'Focus on costs' helped drive profits.
NOL returns to profit But fuel costs and weak global economy mean 'it is a deep hole we have to climb out of.'
German port to get LNG bunker terminal Move follows feasibility study by port authorities.
Fuel oil stocks up 14% week-on-week Singapore stocks at 16-week high.
Gazprom in project to develop LNG bunker market 'LNG is a solution for the transport sector, in particular for shipping,' says project partner.
Bunker prices largely up at major ports Supplies of bunker fuels fine at key Asian ports on Thursday.
Distillates 'may not be the best alternative' Kirsi Tikka of ABS talks to Bunkerworld and Sustainable Shipping about future fuel and technology choices for shipping.
Vopak secures $1 billion in private placement programme Proceeds to 'repay outstanding debt and for other general corporate purposes', says firm.
Chimbusco bunker sales to Cosco shipyard double Chimbusco also supplying 'ultra-low sulphur fuel' to vessels being built at the shipyard, it says.
Despatch of Titan offer document delayed Titan and investor Guangdong Zhenrong require 'additional time' to compile document.
Russia holds seminar on ship energy efficiency Russian shipowners briefed on EEDI and SEEMP.
ExxonMobil seeks to expand use of flow meters Feedback from customers has been 'positive'.
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