VTG increases nine-month revenue and profit The Hamburg (Germany)-based based wagon hire and rail logistics company VTG Aktiengesellschaft reported positive business developments up to the end of Q3/2012. Revenue in VTG's ra...
Winkler expanding commercial vehicle parts centre in Switzerland The German commercial vehicle component specialist Winkler is enlarging its location in Egerkingen (canton Solothurn/Switzerland) and is building a new commercial vehicle component...
Georgia's Mason intermodal container transfer facility gets USD 6.5 million upgrade US-based Georgia Ports Authority has announced that its expanded Mason intermodal container transfer facility is now open for business. The improvements cut round-trip Norfolk Sout...
Ethiopian increasing flights to Abidjan to daily Ethiopian Airlines is set to increase frequencies on its Abidjan route from thrice weekly to daily, effective 25 November 2012. Traffic to and from Abidjan, the commercial capital ...
Port of Dunkirk opens TMV and DMT terminal extensions On 15 November 2012 Christine Cabau Woehrel, chair of Dunkerque Port's executive committee, and Philippe Bertonèche, chair of the French port's development board, opened the extens...
New CEO for Stena Line next year The Stena Group has appointed Carl-Johan Hagman, currently responsible for all shipping operations, as its new CEO. Hagman will replace the current CEO, Gunnar Blomdahl, who is ste...
Daimler Trucks and Kamaz intensify partnership Daimler's commercial vehicle division and the Russian truck manufacturer Kamaz have signed a contract covering the supply of engines and axles for the Russian company's trucks and ...
Strengthening of Swiss' position in Western Switzerland benefits cargo customers Swiss International Air Lines is planning to make extensive changes to its organisational and market-development activities in Geneva. The aim is to offer Geneva-based customers a ...
Latin American governments urged to develop air transport infrastructure The Latin American and Caribbean Air Transport Association (ALTA), Airports Council International (ACI), Airports Council International - Latin America and Caribbean (ACI-LAC), the...
Trans-o-Flex scoops up 100% of Austrian subsidiary The Trans-o-Flex Logistics Group, a specialised logistics and transport service provider for pharmaceutical and healthcare products, is taking over all the remaining shares in its ...
Rudolph Logistik reinforced by new business in Wolfsburg The German logistics group Rudolph Logistik is taking over the management of a warehouse for large goods receptacles that will be used to carry supplies for the Volkswagen plant in...
Davies Turner reinvests in UK freight hubs Davies Turner - the UK's leading independent freight forwarder - is completing a major reinvestment programme at its main regional hubs. This follows its freehold acquisition of th...
Board of Norbert Dentressangle reinforced by British and Spanish nationals The French service provider Norbert Dentressangle (ND) has appointed two new executive board members. The British citizen Malcolm Wilson becomes managing director of the group's lo...
The changing face of Japanese ship finance Banks start to favour Europeans over locals
Ships' scrap values will weaken as iron ore price falls A gap remains between revenues from S&P sales and scrapping, says Nomura
An independent eye-witness view of the MSC Flaminia casualty Passenger Johnny Rosen reveals what happened in the hours immediately after fire broke out on MSC Flaminia
Seafarers under suspicion When shore leave means unreasonable and impractical visa requirements
UK Chamber of Shipping inches open its doors to PMSCs Membership will demand 'fairly rigorous' vetting
Sydney Ports Corp posts 8% rise in group revenue But cost of servicing debt from a capital expenditure programme contributes to 28.6% fall in net profit
Will regulation make armed guards a permanent fixture on vessels? Industry debates the Pandora's box that is private maritime security
West Africa suezmax market remains flat Chartering activity quiet for the million- barrel tankers
Chinese exports boom will focus on emerging markets Despite slower growth, the emerging middle class will demand for imports
CSCL sells its boxes to raise cash Deal sees Hong Kong-based buyer lease the containers back to seller
Vietnam marine police foil tanker hijacking Pirates seized Malaysian vessel to sell its fuel oil
Onboard fire is crews' biggest enemy Cargo misdeclarations increase risk to lives when a blaze breaks out
Cargo fires The MSC Flaminia casualty has drawn attention yet again to the terrible risks that seafarers face when cargo is misdeclared
Japanese squeeze Shipowners are finding less support from traditional financiers
UK rejects claims it refused refuge for MSC Flaminia Head of MCA says places of shelter had been identified
China has stopped classing NITC tonnage Decision leaves Iranian vessels without class services from any IACS member
Capesize market ebbs but high spirits persist Most brokers believe the fourth quarter has a little more to give
Box rate gains vanish AS BOX liners continue their rearguard battle on freight rates, it became clear today that nearly all gains from the 1 November Asia/Europe rise have been wiped out
Gazprom Belarus plan to undercut LNG sector GAZPROM has decided to spend $2Bn to improve its Belarus pipeline so it can undercut the price of shipborne LNG
Mermaid wins $792M in projects THORESEN Thai Agencies said its 57% owned subsidiary Mermaid Maritime has closed deals on three different schemes worth a total $792M
Luka Koper's 1-3Q profits rise 168% LUKA KOPER, the group that owns Koper, Slovenia's only port, today reported a 168% rise in net profits for the first nine months 2012
Open-ended soy strike starts in Argentina ARGENTINE workers reportedly walked out today at four soy-processing plants near Rosario's river port
Chinese buyers default on three coal cargoes CHINESE buyers have reportedly defaulted on three bulker cargoes of Australian thermal coal, IHS World Markets Energy reported today
LR2 rates hit all-time high LR2 tanker rates on the Ras Tanura-Chiba route have hit an all-time high on the Baltic Clean Tanker Index, which began assessing the route in 2010
China's vehicle exports rise 24% STRONG overseas sales for Chery, Geely and Lifan cars resulted in Chinese vehicle exports growing by 24.43% year on year in October
China's oil demand growth slows down CHINESE demand for oil and oil products in October suggests weaker demand growth than in recent years, DNB Bank said today
CS Haisheng chemical tankers sold for scrap SHANGHAI-listed CS Haisheng said through a subsidiary that it plans to scrap two chemical tankers for $2.1M
New shipyard to open in Manila PHILIPPINE-based Nautilus Shipyard Repair will build a new facility in Navotas City, Manila, to commence operations in June 2013
Capesize market remains static BROKERS reported a dull week for Capesizes, as slow iron ore and coal movements did nothing to absorb excess tonnage in the Pacific
Supramaxes gain on volume rise INCREASED movements of Indonesian minerals, as well as Indian iron ore cargoes to China, have buoyed the Supramax market this week
Reefer Ships Lose Share to Box Carriers Conventional refrigerated ships continue to lose market share to container lines offering increased capacity for reefer boxes, according to a new analysis of the market by the Netherlands-based research and consulting firm Dynamar. Traditional reefer ships carried half of all seaborne shipments of refrigerated cargoes as recently as 2000. Their share...
SCFI This Week: Asia-Mediterranean Spot Rates Drop 8.2 Percent Spot rates in the major Asia-Europe and Asia-North American trade lanes further weakened this week, according to the SCFI index. The SCFI North Europe index tumbled nearly 12 percent to $1,079 per TEU from $1,225 last week. Since soaring more than 38 percent in two weeks in early November to $1,491...
Shapiro Names Starr CFO C. Walter Starr Logistics provider Samuel Shapiro & Co. has named C. Walter Starr the firm's new chief financial officer. "We are very excited to have Walter join our family,' said Margie Shapiro, president and CEO, in a written statement. "With his wealth of experience, we look forward to both his contributions and...
Roadrunner Expands in New England Roadrunner Transportation Systems is opening a new less-than-truckload outbound service center serving New England. The service center, which will open on Nov. 26, will provide outbound service from Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont. The opening is a continuation of the company's expansion that saw it open a service...
Kieserling Group, Compass Ocean Logistics to Merge Effective Jan. 1, 2013, Bremen-based Kieserling Group will merge with logistics service provider Compass Ocean Logistics. The new Compass Logistics International AG will have two headquarters, in Bremen and in Dubai, and 40 branches in 18 countries. The company will focus its future business activities in western Europe, North America, the...
India OKs Private Funding for Rail Infrastructure In a step that could help speed freight movements in the country, the Indian government has approved a proposal to allow private investment for the development of rail-related infrastructure projects. The policy reform, which came amid vigorous opposition from labor unions in state-owned Indian Railways, is expected to lower transportation costs...
Analysts: Rate Erosion Likely on Asia-Europe Lanes espite the slew of rate restoration plans and general rate increases announced by lines for December and January, excess capacity will continue to undermine efforts to boost revenues into 2013, according to leading analysts. Janet Lewis, head of industrial and transportation research in Asia at Macquarie Capital Securities, said November rate...
Cocoa cargoes need handling with care 'Cocoa is a fragile commodity,' according to Henry Alllard, chief executive officer of Bordeaux-based maritime insurer Filhet Allard; he told the ICCO World Cocoa ...
Irish maritime outlook remains challenging A Republic of Ireland industry body has made a downward revision to its port and shipping traffic volume forecasts for 2013, despite a 'relatively stable' 2012 ...
Asia - Europe rates under pressure again It was a fact acknowledged by CMA CGM's cfo, Michel Sirat during a third quarter interim results teleconference on Tuesday when he said that Q4 results would 'not ...
CSCL sells its boxes to raise cash The Hong Kong and Shanghai-listed China Shipping Container Lines [CSCL] has announced that it proposes to sell 20% of its shipping container fleet to a leasing ...
APL Logistics acquires US customs brokerage The global forwarding arm of Singapore's NOL Group, APL Logistics, has bought out the Los Angeles-based customs broker and trade compliance firm, Carmichael International ...
China's PMI confirms momentum The bellwether HSBC Chinese November purchasing managers' index [PMI] has risen above the watershed 50 level for the first time in over a year to reach 50.4 - a ...
Seanergy bulker held A Seanergy Maritime bulker was detained in the UK after inspectors flagged up 26 separate issues with the ship.
Busted for booze A drunk captain led to a Wessels Reederei vessel running into trouble in the UK, the Maritime & Coastguard Agency says.
Lorenzo at a loss Philippines feeder line Lorenzo Shipping has fallen to a loss in the third quarter.
ZM swallows Davie ZM Industries has completed a takeover swoop for Canada's Davie Shipyard amid expectation new orders are just around the corner.
CSCL facing loss Hong Kong-listed China Shipping Container Lines (CSCL) is likely to book a loss in the fourth quarter, according to Credit Suisse.
2Go posts a profit Philippines ro-ro operator 2Go Group has returned to profit in the third quarter, but saw losses grow over the first nine months.
Shell MR swoop close Shell is tipped to put the finishing touches to its "Project Silver" scheme in the next couple of weeks.
First falters again Taiwanese bulker owner First Steamship has posted weaker nine-month profit as revenue fell.
Sealink seals $37m package Malaysian offshore outfit Sealink International has racked up a bunch of contracts worth a total of MYR 113m ($37m).
Glenn comes clean Malaysia's Glenn Defense Marine has admitted one of its vessels dumped waster water off the Philippines.
Korea winning eco war South Korea's shipyards are trouncing Chinese rivals when it comes to fuel efficiency performance, a leading analyst has shown.
Eitzen closes on debt deal Eitzen Chemical's financial restructuring has been given the green light by lenders.
OW charters Schulte tanker Denmark's OW Bunker has chartered a Schulte tanker for operations in the US Gulf.
Moving markets TradeWinds digests the digits making the headlines this week.
Haisheng ditches oldies China Shipping Haisheng has offloaded two chemical tankers for scrap.
GOS buys another India's Global Offshore Services has snapped up a 2010-built anchor handling tug supply vessel from an Egyptian owner.
Vietnam swings the axe Vietnam is slashing its newbuilding budget in the shipping slump.
Sheep ship under fire A Dutch-owned ro-ro has been criticised for leaving port in the UK in a storm with sheep on board - and then having to return to port.
Tanker taken off Vietnam A small Malaysian registered chemical tanker has been hijacked and then abandoned off the coast of Vietnam.
A closed shop We take a look at what was said in the market over the past week.
"Crawling with beetles" A Columbia Shipmanagement cargoship was found to be infested with bugs during an inspection in New Zealand.
Mermaid wins Saudi gig Mermaid Maritime has won a large contract in the Middle East providing offshore services to Saudi Aramco.
Dry bulk rates trimmed Morgan Stanley has taken the axe to its dry cargo rate forecasts for the next two years on weaker demand assumptions.
S&P passes 2011 total Ships sold in the secondhand market so far this year have already surpassed the levels seen in the whole of 2011, latest figures show.
Austal plans rights issue Austal has unveiled a deeply discounted, highly dilutive AUD85m ($88m) rights issue to recapitalise its business.
US markets quiet on Black Friday Markets were slow due to the US Thanksgiving and Black Friday holiday, a supplier told Bunkerworld.
Maersk 'not giving up on shipping.' Maersk will invest $6-$8 billion in the shipping sector over the next five year period.
Bunker prices sluggish in Fujairah Little movement seen apart from Suez, where prices softened.
Week ends with lacklustre market Loading problems at Rotterdam leave market subdued.
Eitzen gains approval for financial restructuring Banks have committed to a total of $30 million in a new working capital facility to secure liquidity for the company.
Istanbul: Supplier exit is temporary suspension Rida Petrol 'has temporarily suspended operations' and should be back with expanded product offering.
New study spots efficiency gap on big ore carriers Same ship type fosters useful comparison on fuel consumption with surprising results.
Tanker 'hijacked for its MGO cargo' Vietnamese police retake the vessel, but only after opening fire.
NYK 'activiely looking at LNG' as a bunker fuel Managing director of LNG division says it could also play a role in supplying LNG as bunker product.
Lab-on-a-ship team narrows focus with 'Catguard' Real-time monitoring helps ships avoid engine damage, aims to offer in-line sulphur monitoring next.
Prices lack direction in Asia In Singapore, 380 cSt crept up by a dollar but distillates lost $6.50.
'True value' fuel differentials narrow sharply Less variation in TWI quality scores between 'best' and 'worst' fuels sees estimated value spread at about a third compared to January.
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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