US car imports boost car-carrier rates The fastest growth in US demand for imported cars since 2006 is boosting rates for the vessels delivering them, spurring analysts to predict a 68 per cent gain in profit for Wilh. Wilhelmsen ASA, the largest fleet operator.
Capesize hire costs fall to 14-year low Hire costs for capesizes, the largest ships that carry dry-bulk commodities, fell to a 14-year low amid a shortage of cargoes to load at Atlantic Ocean ports.
Tanker earnings soften on activity slowdown Crude oil tanker earnings on the major Middle East route were weaker on Monday as a slowdown in activity and mounting vessel availability ate into gains notched up earlier this month.
Deutsche Bank's ship loans swell as rivals submerge
Strait Talk
EU decision on Somali piracy a positive move THERE has been some good, some bad and some mixed news on piracy in the past couple of weeks. The good news is that the EU Naval Force (EU Navfor) is to take action against Somali pirates on land.
US car imports boost car-carrier rates The fastest growth in US demand for imported cars since 2006 is boosting rates for the vessels delivering them, spurring analysts to predict a 68 per cent gain in profit for Wilh. Wilhelmsen ASA, the largest fleet operator.
Capesize hire costs fall to 14-year low Hire costs for capesizes, the largest ships that carry dry-bulk commodities, fell to a 14-year low amid a shortage of cargoes to load at Atlantic Ocean ports.
Tanker earnings soften on activity slowdown Crude oil tanker earnings on the major Middle East route were weaker on Monday as a slowdown in activity and mounting vessel availability ate into gains notched up earlier this month.
Deutsche Bank's ship loans swell as rivals submerge
Strait Talk
EU decision on Somali piracy a positive move THERE has been some good, some bad and some mixed news on piracy in the past couple of weeks. The good news is that the EU Naval Force (EU Navfor) is to take action against Somali pirates on land.
Volumes rising at Russia's seaports Russia's seaports handled a total of 535 million t of goods in 2011. The target for the current year is 560 million t. (ku)
Atlanta welcomes return of Air France-KLM/Martinair air cargo service Today (27 March), Air France-KLM Cargo and Martinair Cargo are beginning a scheduled air cargo service to Atlanta GA (USA), in addition to existing passenger flights. The French ai...
DSV and Fläkt Woods sign new contract The transport service provider DSV Road Ltd and Fläkt Woods UK have signed a three-year contract renewal for handling domestic and international road freight. Using its dedicated v...
Albany ring road Australia: planning set to start on stages two and three Australia's federal labour government has agreed to cover half the USD 1 million cost of completing the planning and detailed work on the remaining two stages of the Albany ring ro...
Ukraine: state railways obtaining 54 electric locomotives The Ukraine state railways UkrZaliznytsia (UZ) plans to expand its fleet with 50 electric locomotives. The new VL11M/6 traction units that are being manufactured by Georgia's...
DHL boosts intercontinental service with new RTW flight Effective today (27 March), DHL, one of the world's leading international express services providers, is significantly enhancing its intercontinental delivery capabilities. The lau...
Cargo 2000 platinum membership for Swiss WorldCargo Swiss WorldCargo, the cargo division of Swiss International Air Lines, has been classified as a Cargo 2000 platinum member 201", the highest of four categor...
Cossutta and Grimaldi to manage logistics for Serbia-made Fiat cars The Trieste (Italy)-based company Cossutta Trasort & Logistics has signed a final agreement to manage the outbound trade of Fiat cars manufactured in the Kragujevac car factory...
First major step for Euro Carex, the European high-speed rail freight network Euro Carex has achieved a major first: the first test of a high-speed freight train running between Lyon St Exupéry airport (France) and St. Pancras international station in London...
UTi Worldwide Inc reports lower net income in Q4/2012 UTi Worldwide Inc has reported the financial results for its fiscal Q4/2012 ended 31 January 2012. Q4/2012, revenues amounted to USD 1.154 billion, an increase of 0.7% f...
FedEx with good results in Q3/2012 The US express service provider FedEx reported consolidated revenue of USD 10.56 billion in Q3, up 9% from USD 9.66 billion for the same period in the preceding year. Operating in...
Hong Kong Air Cargo Terminals Limited restructured management Hong Kong Air Cargo Terminals Limited (Hactl) has reshuffled its senior management team. Tan Chee Hong, formerly Hactl executive director - information services, has been promoted ...
Emissions control study highlights role of fuel prices Danish Green Ship of the Future project compares the choice of fuel, and technologies, for use in future ECAs
NewLead bulker held in New Orleans over alleged arrears Federal judge issues Rule B order
Piraeus annual profits dip as privatisation looms Port reports container and cruise growth
DFDS and LDA in cross-Channel and Mediterranean partnership Joint venture creates nine-vessel company
Moroccan ferries remain stranded in Algeciras Government steps in as crews on Comarit and Comanav Ferry vessels suffer in financial crisis
Snow show for ice-class tonnage Aframax rates feel the chill as Baltic thaws
India oil demand boosts tanker triangulation Iranian oil supply loss strengthens New Delhi's ties with Brazil
Horizon offers debt restructuring plan Company allocates 10% of stock to liabilities on laid-up tonnage
India to send more iron ore to South Korea State-owned miner MMTC granted export permit
IG reinsurance faces review before 2013 Rating agencies and regulators fear system's 'apparent fragility'
The dance of Jaya Acquisition talks may have tapered off, but the Singapore-listed offshore vessel builder and operator still has winning moves
Car carrier market on verge of rates boom Orderbook is nearly empty and demand will jump this year
Torm offered $200m rescue package But debt mountain could scupper the deal
Paribus raises $6.7m for KG opportunity fund Supplying capital to struggling businesses can be done on very favourable terms, but demands strong nerves
Deeble becomes first female president of UK Chamber of Shipping P&O chief calls for more stability in shipping
IG clubs to exclude IIR clause Inclusion leaves shipowners liable
SISI sees Chinese shipping industry bottoming out in first quarter Margins will increase on recovering box shipping markets, says Shanghai institute
CSD secures intra-company loan China's banks reluctant to lend to shipping
Europe opens window of opportunity for IMO to develop CO2 measures European market-based measure will take five years to come into force, giving IMO time to find international solution
Singamas profits up 49% Box supplier improves sales this year
Aberdeen completes $30m upgrade Scottish port targets larger, heavier cargoes
New order Damco tackles changing purchase patterns
Damco launches 'GPS-style' supply chain tool Dynamic flow control aims to cut manual processes
Nice cash if you can get it CSD struggles to secure cheap bank loans
Vietnam's Vinashin case goes to court Ex-chairman accused of defrauding and bankrupting the company
Alliances penalise the most efficient members, study shows Some alliance partners will see the average reliability of the product reduced compared to their own operational performance
Rivals cash in after Maersk cancels eastbound bookings MSC and CMA CGM announce surcharges as Europe-Asia box space tightens
Boxship ordering collapses Moribund start to the year reflects a crash in freight rates that is only just being reversed
NOL launches perpetual bond Singapore dollar-denominated offering planned
Jaccar to expand into bulk, gas sectors JACCAR, the Jacques de Chateauvieux-led investment company, said today it hopes to mimic its offshore success in the gas and drybulk sectors
Ningbo Marine falls to $1M 2011 loss SHANGHAI-listed Ningbo Marine unveiled net operating losses today of 5.5M yuan ($1M) for 2011, compared with a profit of 43.7M yuan ($7M) a year earlier
JV's $1.33Bn purchase of Maersk LNG is completed TEEKAY LNG and Marubeni have completed their $1.33Bn bid to acquire Maersk LNG A/S, with its eight LNG carriers
Channel ferry JV set up DANISH ferry operator DFDS said today it has taken an 82% majority in a company set up with partner LDA, which will take over their Channel ferry activities
Chinese breakers buck trend CHINESE breakers are again bucking the soft trend in recycling, raising prices even as rival South Asians refused to budge
GenMar seals creditor deal BANKRUPT General Maritime and its unsecured creditors committee have finally reached an agreement that paves the way for restructuring
Two China Shipping units close deal CHINA Shipping Development said today the shipbuilder plans to borrow 2Bn yuan ($300M) from CS Finance
COSCO Pacific's revenues jump 34% COSCO's terminal division COSCO Pacific today said its net profits in 2011 were $398M, up from $366M the year before
NewLead bulker targeted A UNIT of trading giant Vitol has attached a bulker managed owned by NASDAQ-listed NewLead
Zodiac buys Sanko ships ZODIAC Maritime Agencies is said to have bought two modern Panamax bulkers from troubled Japanese owner Sanko Steamship
Capesize newbuildings sold A KOREA Line newbuilding Capesize bulker is one of two such ships said to have been resold last week
MR tanker sales reflect sector confidence BUYERS are continuing to commit to medium-range products tankers, reflecting confidence in the sector
VINASHIN trial begins MANAGERS of shipbuilding giant VINASHIN went on trial today in Vietnam's northern port city Haiphong, IHS Global Insight reported
Illios Shipping Fined for Illegal Waste Dumping The Department of Justice ordered Illios Shipping to pay $2 million in criminal fines after the Greek carrier admitted to...
Shipper Group Enters Trucker Hours-of-Service Battle Shipper association NASSTRAC joined the legal battle over truck driver hours-of-service rules, challenging a lawsuit seeking shorter daily hours for...
TIA's Voltmann Details Legislative Affecting Freight Brokers, 2012 Economic Outlook (Video) Robert Voltmann, CEO and president of Transportation Intermediaries Association, details legislative action relating to freight brokers and what his members...
Truck Tonnage Index Rises 5.5 Percent A key indicator of trucking activity rose 0.5 percent in February from January, signaling truck freight volumes are rising after...
Rickmers and TOTE Join World Shipping Council Rickmers-Linie and TOTE have joined the World Shipping Council as the newest members of the Washington-based maritime association. With...
UASC to Hike Europe-Asia Cargo Rates United Arab Shipping Company will apply a general rate increase on eastbound cargo from North Europe to Asia and the...
Fedex Trade Networks Expands in US FedEx Trade Networks is expanding its U.S. freight forwarding operations, opening offices in Phoenix, St. Louis, Mo., and Milwaukee, Wis....
Trailer, Truck Orders Create Backlogs Truck trailer makers are struggling to keep up with demand, as strong orders create production backlogs, according to vehicle market...
Horizon Expects $6.4 Million Fourth Quarter Loss Horizon Lines said Tuesday it expects to report a fourth quarter loss of $6.4 million from continuing operations basis on...
DP World Repays $3 Billion Loan Early Global ports operator DP World is tapping its cash resources to repay a $3 billion revolving credit facility six months...
Yokohama Container Volume Slides 6.2 Percent International trade through Japan's Port of Yokohama declined 6.2 percent in 2011 from 2010 to 2.8 million 20-foot equivalent units,...
Hanjin Takes Delivery of First 13,000-TEU Ships Hanjin Shipping took delivery of the first two of a series of nine 13,100-TEU capacity container ships that it started...
Operating Profit, Traffic Soar at Russia's Global Ports Russia's Global Ports booked net income of $146.9 million in 2011, up 23 percent on the previous year, as its...
Obama Team Pushing Export Promotion Initiatives Encouraging small and midsize companies to enter the export arena will put the U.S. on the fast track to sustaining...
Supreme Court Seeks Solicitor General's Opinion in Clean-Trucks Case A challenge to the Port of Los Angeles concession requirements for motor carriers moved a step closer to the U.S....
MSC Imposes Equipment Surcharge in Europe-Asia Trade Mediterranean Shipping Co is imposing an "equipment imbalance" surcharge and "no-show" penalties on the North Europe-Asia route after rival Maersk...
Diesel Prices Hit 33-Month High Diesel prices across the U.S. hit a 33-month high in the week ending March 26, climbing half a cent as...
Are carriers playing mind games? You have just returned from the Far East after a highly successful but exhausting sales trip. Your newly-launched upgraded widgets are in high demand. Your e-mail ...
CMA CGM forges new deal with MSC and CSAV in Europe/ECSA trade Further signs of the close co-operation evolving between MSC and CMA CGM and CSAV can be seen from the latest deal just announced in the trade linking northern ...
Canadian National expands coverage of US/Canada Canadian National Railway Company (CN) railway is aiming to expand its coverage of the US and Canada for international cargo movement this year and to this end ...
USTDA to advise on Casablanca's security plans The US Trade and Development Agency (USTDA) has awarded more than USD570,000 to Marsa Maroc, a leading terminal operator and stevedore that is active in Morocco's ...
Auckland 'wharfies' win pre-lock-out pay The Ports of Auckland [PoA] has made a 'good faith' pledge to honour the pay of 300 Maritime New Zealand Union [MNZU] port workers who have been prevented from ...
DP World to retire USD3 billion of debt early DP World is to use its cash reserves to retire an outstanding USD3 billion loan under an existing revolving credit facility that matures in October 2012. The repayments ...
Hanjin takes delivery of first 13,000TEU vessels
Eimskip meet expectations Icelandic shipping and transport group, Eimskip, has posted an after tax profit of EUR13.1 (USD17.5) million profit for 2011 compared to a EUR12.2 (USD16.3) million ...
Iranian bulker pirated 3000km from Somalia A 63,400 dwt Iranian-owned bulk carrier and its 23 crew was seized off the Maldives by suspected Somalia-based pirates yesterday, more than 3,000km from the shores ...
DP World offers 3G communications DP World has introduced a 3G internet service for container liner operators calling at its flagship Jebel Ali port complex in the UAE.It means that ocean carriers ...
EU extends anti-piracy naval force fight to the beaches The European Union has confirmed an extension of the EU NAVFOR counter-piracy mission [Operation ATLANATA] off the Horn of Africa until ...
Outreach events ahead of SMW 2012 Maritime and Port Authority of Singapore to increase awareness about the maritime industry among the general public.
Grindrod and Vitol confirm deal for 50% stake in Cockett 'Vitol is the ideal partner to support Cockett's global growth strategy', says Cockett's Beeson.
Lube suppliers form alliance Chevron Marine Lubricants signs cooperation agreements with Gazpromneft subsidiary.
Rotterdam IFO prices generally stable Some suppliers fully booked until end of the month in Rotterdam.
High bunker prices 'draining' ship operators of cash International banking group says shipping is facing a 'financing gap'.
Prices firm slightly in Fujairah Tight avails for prompt supplies in Fujairah.
Torm in talks with two potential investor groups Negotiating $100-200 million in equity and cash that could 'eliminate' risk of 'in-court solution' for troubled operator.
Fuel prices 'killing everybody' in current market Saving fuel has moved from being a 'marketing tool' to a necessity, says Tom Boardley, Marine Director at LR.
'Confusion' over Russia's fuel oil tax policy 'No unity in the government about the efficiency of the current system,' say sources.
Bunker prices largely up in Asian markets Weak demand in Singapore and Tokyo.
Ship operators warned against evading ECA compliance 'Don't try to flog the log,' John Aitken tells conference.
Low speed engine passes factory tests for market introduction Parameters for fuel consumption, exhaust gas emissions and other readings 'well within accepted limits', says Wartsila.
Supplier's exit 'to impact' Japanese bunker market Itochu Enex's exit will remove about 36,600 mt of bunkers from the local spot market, players say.
Value of Sri Lanka petroleum exports up 106% Mainly due to increased exports from the bunkering sector.
India to 'ensure' EEDI and SEEMP compliance Initiates necessary steps for survey/inspection of Indian ships.
US firm to reintroduce marine gas turbine engines Due to narrowing price differential between MGO and HFO material since mid-2000.
UK shipping firm orders more fuel efficient newbuilds Lomar places order for up to six 2,200 TEU containerships from Guangzhou Wenchong Shipyard in China.
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