January slump in Baltic index hits 58% The Baltic Dry Index, a measure of commodity freight costs, headed for its largest monthly decline in more than three years as plunging rents and near-record fuel prices cut earnings to below zero on some shipping routes.
Carnival sued in Miami over shipwreck Carnival Corp, the world's largest cruise line owner, was sued in Miami over the Jan 13 wreck of the Costa Concordia off the coast of Italy.
Stevens Transport in USA expands its fleets Stevens Transport, based in Dallas TX (USA), is expanding its fleets by buying 1,200 units of the 3000R refrigerated trailer model from Utility Trailer Manufacturing Co. Stevens Tr...
Air Cargo Group plans Bali conference The neutral air freight wholesale specialists, Air Cargo Group, is set to celebrate a successful eighth birthday at its annual conference in Bali (Indonesia) from 27 February to 1 ...
Comparing the UK and German rail structure The UK Rail Freight Group (RFG) has published a comparator between the UK and Germany railway structure. It demonstrates that in terms of liberalisation and competition, the UK rai...
Groundbreaking for Kuehne + Nagel at the Port of Duisburg Germany's duisport Group is setting up a new logistics complex for Kuehne + Nagel. The official groundbreaking ceremony this week marked the symbolic start of the construction of t...
Switzerland: freight transport gradually recovering from economic downturn The economic crisis in 2009 had a disastrous effect on Switzerland's freight traffic. The transport performance that year was 7% lower than in 2008. The decline was significantly m...
DHL launches training programme for professional drivers DHL Freight, one of the leading providers of road freight services in Europe, is investing in the training of new professional truck drivers. In 2012 the company plans to train a t...
DPD and Hermes collaborating in Russia The CEP service providers DPD and Hermes have announced that they are bundling their strengths in the Russian market. The two companies want to offer end customers in Russia an alt...
Norbert Dentressangle secures further 3-year contract with Daikin Daikin UK and Daikin Europe NV have signed a further three year UK warehousing and distribution contract with the French transport and logistics group Norbert Dentressangle. Based ...
New Grimaldi 'motorway of the sea' between Salerno and Catania Naples (Italy)-based Grimaldi Groups have inaugurated a new thrice-weekly 'motorway of the sea' between Salerno and Catania (eastern Sicily). The link, which is operated by Finnli...
Dubai's cargo traffic sank slightly in 2011 Air freight traffic at Dubai International airport (UAE) rebounded slightly to 189,593 t in December2011, reflecting a modest increase of 0.8% compared to the 188,103 t handled dur...
Boeing delivers two B777-300ERs to Saudi Arabian Airlines Boeing reached a major milestone with Saudi Arabian Airlines when it delivered the airline's first two B777-300ERs (extended range), marking another step forward in Boeing's...
APM Terminals recognised for safety excellence APM Terminals was presented with The Gerald H. Halpin Safety Excellence Award for 2010-2011 by the Signal Mutual Indemnity Association. The APM Terminals' operations in the USA wer...
ILFC appoints senior vice-president and head of Asia Pacific International Lease Finance Corporation (ILFC), a wholly owned subsidiary of American International Group, Inc., announced that it will establish offices in Beijing and Singapore i...
Snags that could scupper the sale of SeaFrance ships There are two potential sticking points to the SeaFrance fleet sale: the state of the vessels' maintenance and the retention of the crews
What price the SeaFrance ferries? The $244.5m valuation in 2010 for all four now looks wildly optimistic
Survey wars in Rotterdam Port authority study counters ECT forecasts
Crude tanker tonne-mile demand contracted 2% last year Gains in VLCC demand outweighed by weaker suezmax and aframax markets
Delta Mariner takes out Kentucky bridge Vehicle carrier slams into bridge
UK to push for regional carbon curbs rather than wait for IMO European Union emissions trading scheme could raise $15bn annually from shipping
Flow of fresh money boosts Seine waterway alliance French ports are reawakening after the ending of poor trade union relations that hindered dockside investment
SapuraCrest wins lion's share of six-ship tender Market rumblings have Petrobras tendering for an additional six pipelayers with the ability to lay flexible pipe
UK makes a smart move on training Full marks to UK Shipping Minister Mike Penning for fighting the industry's corner
More haste, less speed Industry must avoid a knee-jerk response to the Costa Concordia investigation
UK will struggle to source alternative to Qatari LNG says gas expert Emirate supplies 85% of Britain's LNG needs
West Africa to China VLCC trade offers best earnings in 2012 Daily returns will eclipse Middle East-Asia voyages
Cash-rich owners likely to be the only tanker moneymakers in next five years Earnings in 2012-2016 will not be enough to cover finance and operating costs, McQuilling Services forecasts
Chemtanker rivals say they saw BLT crisis coming Questions over last year's refinancing package
General strike to halt Belgian ports Industrial action will disrupt operations at Antwerp and Zeebrugge
Insurance industry rejects suggestion it can ease Somalia's woes Bigger barriers need to be overcome before the country can embrace commerce
Marseilles Fos opens talks with Drydock 10 bidders
Brokers hope capesize rates have found a bottom As China gets back to business, the big question is if earnings will rise again
Lawsuits to challenge Costa's $14,460 compensation offer Cruise firm to pay out $160,000 per passenger if US lawyers have their way
Clubs aim to push pilot error up regulatory agenda IG expects that move to make pilots subject to international regulations will encounter opposition
Booming Piraeus posts near-doubling in box volumes Port handled more than 1.68m teu last year compared with 878,000 teu in 2010
Nordcapital tops KG league Financier secured $68.4m of new funds
The basic laws of human stupidity A 1977 essay by the Italian economic historian Carlo Cipolla, readily available on the internet, is recommended reading
RS Platou looks to acquire ACM Shipping Norwegian broker has not yet made an offer but London-listed ACM sees share price jump
BLT's crisis Indonesia's biggest oil and gas shipping company needs to tell the market how it will stay in business
Sorensen to run Maersk Tankers APM SAID today it had appointed Hanne B Sorensen as CEO of its Maersk Tankers, making her perhaps shipping's most powerful women
Wärtsilä's Ship Power unit's profits drop STRONG ordering in specialised ships sectors this year should support the Ship Power unit of Wärtsilä, the Finnish engineering group said, although it reported a fall in net profits last year
China newbuildings dive 70.4% CHINESE shipowners ordered 258 newbuildings last year, a 70.4% dive year on year from 872 newbuildings contracted in 2010
Fund dumps DHT shares HEDGE fund MMI Investments has accelerated the sale of its stake in tanker owner DHT, bringing its holdings down to just 2%
Nordcapital keeps lead NORDCAPITAL, the KG issuing house of Hamburg ship owner Erck Rickmers, in 2011 raised €77M ($101.2M) in equity for fresh shipping investments and capital increases for distressed funds
Precious profits expected to be $22.56M for '11 REGIONAL securities firm PhillipCapital said today it expects Precious Shipping to post net profits of 862.47M baht ($22.56M) for 2011, down 4.75% year on year
Fairstar raises $65M FAIRSTAR Heavy Transport, the Dutch heavy-lift operator listed in Oslo, said today it has raised $65M through a private placement of shares
VLGC charterers keep edge over owners BROKERS caution that VLGC owners should not jump for joy yet because improving gas freight rates are still unprofitable
Compensation offered in Concordia disaster ITALIAN consumer groups told Fairplay today they have signed an agreement with Costa Cruises to offer about €11,000 ($14,500) to each of the passengers aboard Costa Concordia
Piraeus box total doubles PIRAEUS Port Authority has said the number of containers it handled in 2011 had almost doubled from a year earlier
Strike to shut Belgian ports BELGIAN ports will be closed on 30 January by a general strike, with knock-on effects likely during the whole week, Inchcape Shipping Services said today
Thoresen sees S&P window THORESEN Shipping Singapore's managing director Ian Claxton has told Fairplay he hopes to exploit the BDI's fall to a three-year low by acquiring modern bulkers
Exmar lost $45.4M in '11 EXMAR, the Belgian gas transporter, said today it reduced its consolidated net losses to $45.4M last year, from $14.4M in profits in 2010
Seafarer dies after falling overboard in Roenne A SEAFARER has reportedly died after falling overboard at the Danish port of Roenne
BLT subsidiaries defaulted INDONESIA'S chemical shipping group PT Berlian Laju has said a subsidiary has incurred a covenant breach under a loan for which it is a guarantor
Hub Group Takes Aim at Eastern Truck Freight Hub Group expects a "transformational year" for the intermodal industry as Eastern rail network expansion boosts intermodal volumes, company officials...
Vessel Owner, Operator Fined $1.75 Million for Oil Dumping The owner and operator of a newly constructed bulk cargo ship were fined $1.75 million Wednesday for illegally dumping oil...
Teamsters Press Unionization of Toll Drivers The Teamsters union, as part of its national strategy to organize harbor truck drivers, has taken on Toll Global Forwarding,...
SC House Votes to Block Savannah Port Dredging South Carolina's House of Representatives is trying to reverse the approval by the state's environmental agency of a permit to...
Foreign Trade Zone Pioneer Spencer Dies at 85 F.J. Spencer, the founder of IMS Worldwide, a leading expert in free trade zone development, died Jan. 13 at the...
Boxer Urges House to Pass Bipartisan Transport Plan Sen. Barbara Boxer on Thursday urged the House to pass a surface transportation bill that has bipartisan support, so that...
Class 8 Truck Orders Rose 71.7 Percent in 2011 The trucking equipment market accelerated its recovery in 2011, as motor carriers ordered new tractors and rolling stock to replace...
Savannah to Switch to Electric-Powered Cranes The Georgia Ports Authority will buy four new electric-powered rubber-tired gantry cranes and retrofit other RTGs in the Port of...
Driver Market, Truck Capacity Tightening, Werner Says A "challenging" driver market will put more pressure on trucking costs, capacity and pricing in 2012, says truckload carrier Werner...
Illegal Fungicide Detected in 11 Juice Shipments Federal regulators said Friday they found traces of anillegal fungicide in 11 out of 80 shipments of imported orange juice...
Steel Imports Jumped 18.9 Percent Last Year Steel imports in December rose 6.6 percent year-over-year, pushing annual inbound shipments 18.9 percent to 23.9 million tons in 2011,...
Vessel Carrying Rocket Parts Hits Kentucky Bridge Highway traffic in southwestern Kentucky is being delayed and detoured for miles after a cargo ship struck a bridge over...
Inventory Buildup Boosts GDP Growth 2.8 Percent Rising inventories and consumer spending caused U.S. gross domestic product to expand at a 2.8 percent annual rate in the...
Strike to Close Antwerp Port, Brussels Airport Monday The port of Antwerp faces a shutdown Monday as Belgian dockers participate in a nationwide 24-hour general strike against...
Imperial Logistics Expands in Africa Through Acquisitions Imperial Logistics boosted its presence in southern Africa through the acquisition of two transport companies for undisclosed sums. ...
Pantos Logistics Aims for 10 Percent Growth in 2012 Pantos Logistics expects to grow volume 10 percent this year and gradually emerge as one of the world's top 10...
Etihad Adds Two Freighters Amid Industry Slump Etihad Crystal Cargo plans to buy A330-200 freighters, valued at roughly $423 million, as the Abu Dhabi-based carrier works to...
Oakland Port Board Promotes Two Integral to Expansion The Oakland Board of Port Commissioners promoted two employees who have been highly involved in expanding the port. ...
Asia's Internal Engines From politicians to traders, there is a growing sense in Asia that, after four years of economic upheaval in the...
Trade Winds Change in China China, the world's second-largest economy after the U.S., saw foreign trade grow at its slowest monthly pace in two years...
Carrier Uncertainty It's impossible to read through The Journal of Commerce Annual Review and Outlook issue published this month and not conclude...
Leveraging Clarity By now it's accepted wisdom bordering on cliché that the global trading economy lacks clear direction, and that the sputtering...
Commingling Leads to Conflict Q: My wife is thinking of starting a brokerage company, and I have a few questions. 1. Is...
CSAV Raises Rates From India, Middle East Chilean container carrier CSAV imposed a general rate increase on trades from the Indian Subcontinent and the Middle East to...
Maersk Line adjusts its Asia/Med operations Maersk Line is to start a new Asia/Mediterranean service string and revamp an existing loop as it puts in place a plan to deal with the additional competition that ...
CP's intermodal revenue impacted by weaker volumes Calgary-headquartered railroad Canadian Pacific (CP) has seen its net income sink for 2011 compared to 2010 - no doubt impacted by weaker intermodal volumes.CP's ...
Aitken Spence sells its Colombo box terminal stake to China Merchants Citing 'high costs' and 'unreasonable demands' Sri Lankan conglomerate, Aitken Spence said it is selling its 30% share in Colombo International Container Terminals' ...
Emerging markets to rule That is the view expressed at the World Economic Forum [WEF], Davos, Switzerland by HSBC's chief global economist, Stephen King, who predicated a return to the ...
Piracy problems lead MSC to raise surcharge Geneva-based MSC has said that an increased risk of attacks on its ships trading in the Indian Ocean is behind its decision to raise its piracy surcharge by more ...
Exports surge at Tacoma The boom in US exports pushed up the Pacific Northwest port of Tacoma's containerised export volumes by 11% in 2011 compared to 2010 - with agriculture products ...
McKinsey report augurs well for Rotterdam A report commissioned by reason of the 'economic unrest' in 2011 and 'lack of clarity' going forward in the container sector, by the ...
Simatech Shipping to invest in new ships Dubai-based Simatech Shipping, which mainly operates feeder services in the upper Middle East Gulf and South Asia, naming Jebel Ali and Colombo among its principal ...
Bunker prices firm as week ends Bunker demand was slow this week, according to players.
Matson to increase fuel surcharge 'While we were encouraged by the moderation of bunker fuel prices in the second half of 2011, that trend has been reversed in recent months.'
Fujairah prices soften Prices diverge in South African ports.
Markets firming across Europe Strike in Antwerp on Monday could affect operations.
Debate heats up on unilateral GHG action UK Energy and Climate Change Committee accuses industry of 'delaying tactic' by insisting on an international regime to curb emissions.
Gibraltar sees slight decline in ship calls, bunker sales Statistics for 2011 indicate fewer but bigger ships calling at the port and less 'bunker only' calls.
Singapore could play 'key role' in reducing shipping emissions 'Bunkering is huge in terms of carbon emissions,' says spokesman from Singapore Energy Studies Institute.
Wartsila posts decline in results Company's ship power order intake surged 83% in the fourth quarter of 2011.
Asian bunker prices look for direction as week ends Weak demand across key Asian ports on Friday, traders say.
Manufacurer develops two fuel saving paints Antifouling products potentially deliver up to 4% fuel savings.
US port expands green initiative with fuel switch programme Maersk Line vessels to burn low sulphur distillate fuel while idle during cargo operations at the Virginia Port Authority-owned terminals.
Petroplus denies 'fraudulent bankruptcy' allegations French public prosecutor conducting investigation into its insolvency filing.
Berlian Laju temporarily ceases ship lease payments Undertaking financial assessment following a loan covenant breach and failure by 'certain' of its subsidiaries to make lease payments that are due.
Dahlman Rose optimistic of Aegean's outlook Aegean is 'moving in the right direction' with continued improvement in operations expected, analysts say.
Bominflot expands Spanish ports coverage Supplies 380 cSt bunker fuel and MGO via bunker tanker SP Dublin at Sagunto port.
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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