New loan for Montenegrin emergency rail infrastructure rehabilitation The European Bank for Reconstruction and Development (EBRD) is providing an additional EUR 10 million to the national rail infrastructure management company of Montenegro (ZICG). Z...
SriLankan Airlines increases capacity on Kuala Lumpur route From today (30 October), SriLankan Airlines is increasing capacity on four of its 14 weekly Colombo - Kuala Lumpur flights with Airbus A330-200 and/or A340-300 equipment, instead o...
Fret SNCF expands its MLMC offer and opens it to international routes Fret SNCF, the freight division of the French state railway SNCF, is enhancing its single wagon "multi-lots multi-clients" offer (MLMC) and extending it to international...
Ethiopian Airlines operated first B787 Dreamliner humanitarian flight US plane maker Boeing recently joined with Ethiopian Airlines and Seattle Anesthesia Outreach (SAO) to deliver approximately 9 t of medical supplies to Black Lion Hospital - Ethiop...
US Airways posts highest Q3 earnings in company history The Arizona-based US Airways Group Inc reported a Q3/2012 net profit of USD192 million (excluding special items), the second highest Q3 profit excluding special items in the compan...
Global Express Services (Overseas Group) with new president and CEO Globe Express Services (Overseas Group), a third-party logistics provider with 58 offices worldwide, has appointed Michael C. Hughes as president, chief executive and a member...
Höegh Autoliners with new capacity from 2014 The Scandinavian shipping company Höegh Autoliners has entered into twelve-year bare boat charters for two 6,500 car capacity pure car truck carriers (PCTC), which are to be deliv...
Daimler Trucks Mexico receives orders for 140 Freightliners Two leading transport and logistics companies in Mexico have purchased a formidable package of 140 Freightliner Business Class M2 and Freightliner Cascadia medium-duty and heavy-du...
Scania sells fewer trucks Truck maker Scania reported that its earnings for the first nine months of 2012 amounted to SEK 6.135 million. A drop in vehicle volumes, lower capacity utilisation and a high...
Ceva Logistics: Cochovity for business development in the Americas Ceva Logistics has appointed Cindy Cochovity as executive vice-president of business development for the Americas region. Cochovity has served Ceva and its legacy companies with pr...
Transco expanding in southern Germany The German logistics service provider Transco's branch office in Weil am Rhein is augmenting its contract logistics sector. The firm put an additional warehouse with 3,000 sqm of h...
FedEx Express builds new hub in Shanghai The US service provider FedEx Express is to establish a new, USD 100 million international express and cargo hub at Shanghai Pudong international airport (China). FedEx reported th...
DSV reports solid results in Q3/2012 The Danish transport and logistics company DSV reported revenues of DKK 11.31 billion (EUR 1.52 billion) in its interim financial results for Q3/2012, a 3.7% increase compared to t...
HHI's profits cut in half HYUNDAI HI of South Korea said net profits for the first nine months of 2012 were cut in half year on year
CIMC's profits crash SHENZHEN-listed CIMC said today its profits slumped by 52.3% year on year in the first nine months of 2012
Braemar posts even profits BRAEMAR Shipping Services, the London shipbroker and services group, today posted stable profits for 1H12 despite weak markets
RMT's 3Q profits fall 26% RICKMERS Maritime Trust said today net profits for 3Q12 dropped 26% year on year to $8.23M
MES profits dive 58% MITSUI Engineering & Shipbuilding said today that net profits for the first half of its current fiscal year dropped 58.1% year on year to ¥3.016Bn ($38M)
Dolphin might issue bonds DOLPHIN, Norway's offshore service vessel operator, said today the group might issue a senior unsecured bond with maturity in November 2016
NOL raises $246M in bonds NOL SAID it raised S$300M ($246M) from its fourth bond offering under its $1.5Bn euro-denominated medium-term note programme
China's breakers face losses CHINA'S shipbreakers warned today they would report full-year losses, reflecting a 30% fall in Chinese scrap steel prices year on year
Big charter box ships under pressure TIMECHARTER rates for post-Panamax and Panamax box ships are continuing to lose ground this week
China's bunker demand growing 10% per year BUNKER fuel consumption will rise 10% per year for each of the next three years, China Marine Bunker Supply has warned
Adelaide move costs DPW DUBAI Ports World told Fairplay today selling its stake in Adelaide's box terminal has caused a 17% year on year fall in its volume in the Americas and Australia
Chinese ordered more newbuildings than Greeks CHINESE companies booked more newbuildings than their Greek counterparts in the first nine months of the year, broker Golden Destiny has revealed
Daiichi Chuo Kisen warns of bigger losses JAPANESE ship operator Daiichi Chuo Kisen Kaisha has warned of bigger losses ahead of its results for the first half of its fiscal year
Chinese shipbreaking gains as Bangladesh fades CHINESE shipbreakers won more tonnage last week as owners became disillusioned with the weakening market in Bangladesh
Asia-U.S. Carriers Seek December Rate Hike In an attempt to prevent freight rates from eroding during the slack season, shipping lines that carry U.S. imports from Asia plan to increase rates $400 per 40-foot container on shipments to the West Coast and $600 per FEU to all other destinations, effective Dec. 1. The Transpacific Stabilization Agreement, a...
Port of Virginia to Reopen to Ships Tuesday Night The Virginia Port Authority said its marine terminal will start handling vessels at 7 p.m. Tuesday. After closing Monday to ride out Hurricane Sandy, the port reopened Tuesday morning at 8 a.m., but wasn't ready to handle vessels while the terminals were inspected for any storm damage. "There was no damage, only...
Rickmers Maritime Profit Dives Rickmers Maritime's third quarter profit plunged 26 percent from a year earlier on lower charter revenue and increased costs, but the Singapore-based trust said its strong cash flow would help it to ride out volatile market conditions. Net profit fell to $8.2 million from $11.1 million in the third quarter of...
Norwegian Car Carriers Issues Shares to Acquire Ship Norwegian Car Carriers is issuing shares to raise 80 million to 100 million kroner ($13.9 million to $17.4 million) to help finance the acquisition of a secondhand vessel to transport automobiles. The Oslo-listed company said it already has received offers of debt financing to cover 70 percent of the cost of...
NY-NJ Ports, Airports Undergo Post-Storm Assessment All marine terminals in the Port of New and New Jersey remained closed on Tuesday while port workers inspected them for damage. in the wake of Hurricane Sandy. All three airports in New York City also remained closed Tuesday morning, according to the Port Authority of New York and New Jersey. All mass transit...
Port of Virginia Reopens, But Won't Handle Ships Yet All marine terminals in the Port of Virginia reopened Tuesday at 8 a.m., two hours later than usual, following the passing of Hurricane Sandy. The Virginia Port Authority said there would be no vessel operations until the U.S. Coast Guard completes a port assessment and the sea lanes are reopened. The...
Carrier GRIs gets boost from capacity culls and lay-ups The blanking of two Asia to Europe voyages in November by CSCL, added to the voiding of sailings by the CKYH and G6 alliances and Maersk Line, is clearly swinging ...
DP World compensates for slack European market Container port operating giant DP World saw its Q3 2012 throughput contract by 1% compared to the same quarter of 2011 to 14.2 million TEU - the result ...
CSCL to blank two November Asia - Europe voyages State-run China Shipping Container Line [CSCL] will void scheduled sailings on weeks 45 and 48 on its Asia - north Europe AEX1 service to underpin the 'industry' ...
Super storm claims 13 lives on USEC The states of New York and New Jersey are today in the grip of a major disaster after megastorm Sandy made landfall last night battering the US east coast and flooding ...
Evergreen out of the red Taiwan's Evergreen Marine has returned to the black for the nine months of trading posting a net profit of USD3.6 million for the January to September period.The ...
Portek bucks the downturn Singapore-headquartered port operator, Portek International has reported a 16% increase in containers processed through its global terminals at the halfway stage ...
Spring Bok master fined A Seatrade reefer captain has been fined in a UK court following March's collision with a Stealth Maritime LPG carrier in fog off Dover.
CFL buys Greenfleet Dutch shipping company CFL is taking over Greenfleet Crew as it looks to expand its fleet.
Tanker grounds on street A veteran tanker has grounded on a street in Staten Island during Hurricane Sandy.
CSDC falls China Shipping Development Corp has recorded smaller third quarter earnings as revenue fell.
Huge loss for CCHC Boxship and bulker giant China Cosco Holdings Co (CCHC) has been hit by rising costs as it turned in a mammoth loss for the first nine months.
Atlantska slides Croatian bulker owner Atlantska Plovidba has plunged to a loss as rates slipped in the first nine months.
CSCL swings to profit China Shipping Container Lines (CSCL) has returned to profit in the third quarter as box rates improved.
TTA's scrap success Thoresen Thai Agencies has cashed in its oldest bulker, it is claimed.
Rickmers dips in third Higher costs and lower revenue chalked down Rickmers Maritime's third quarter bottom line by 26%.
Braemar eyes 'big stuff' Braemar Seascope has an eye on expanding into the high-end offshore market if it can find the right name to lead the charge, its CEO says.
Precious ups profit Cutting its losses on a series of delayed vessels at India's ABG Shipyard has helped push Precious Shipping to an improved set of third quarter numbers.
Cargoship hits beach A cargoship has run aground on a beach in the Turks and Caicos Islands.
Rongsheng profit dwindles China Rongsheng Heavy Industries continues to haemorrhage profit in 2012.
Sasebo struggling Japanese shipbuilder Sasebo Heavy Industries has suffered a big swing into the red in the first half.
Siem in October quartet Siem Offshore has once again turned to a Norwegian shipyard for its latest newbuilding.
Two hurt in ferry fire Two Canadian shipyard workers have been treated for smoke inhalation after a fire on board a drydocked ferry.
NOCC plots cash grab Norwegian Car Carriers is lining up a private placement to part fund its latest vessel purchase.
Kyoei coming back Japan's Kyoei Tanker has switched its six-month earnings forecast from loss to profit.
MES making less Japan's Mitsui Engineering & Shipbuilding (MES) has posted a big fall in six-month profit.
Alang death toll rises An explosion earlier this month on a tanker at an Alang shipbreaking yard has claimed the life of another worker.
Drunk master jailed A Ukrainian captain has been sentenced to a month in a Danish jail after being found drunk on his vessel.
Braemar's glass half-full London broker Braemar Shipping Services has edged up its first-half profit amid signs of improvement in the industry.
Panamax demo nears 100 Panamax bulkers sold for scrap so far this year are on the verge of passing the psychological 100 ship barrier, according to brokers.
Profits trimmed at SITC China's SITC International has seen its nine month profits trimmed by higher costs - particularly bunker expenses.
Basma big on India Hassan Basma, boss of Malaysia's Bumi Armada, says he is very bullish on the prospects for FPSO demand in India.
NOL gets bonds away Neptune Orient Lines (NOL) has successfully raised SGD300m ($245m) from its second straight bond issue this year.
Costs set to rise Vessel operating costs are expected to rise 3% this year and next according to a new survey by Moore Stephens.
ISC details UOS funding International Shipholding Corp (ISC) has unveiled how it intends to finance its acquisition of United Ocean Services (UOS).
Walmart DC 20% powered by wind turbine The wind turbine is Walmart's first onsite industrial-sized wind turbine and will generate about 2.2 million kilowatt hours of power, providing up to 20 percent of the Red Bluff, Calif. distribution center's annual electricity use.
Maersk hiking TP rates in December The liner carrier's increases, effective from Dec. 1, are $320 per 20-foot container, $400 per 40-foot container, $450 per 40-foot high-cube and $506 per 45-foot high cube container to U.S. West Coast ports.
Allee to leave Gulfport post Gulfport Director Don Allee will resign from his post, effective Nov. 2, in the wake of scrutiny over how the Mississippi port has used $570 million in federal funds after Hurricane Katrina, according to local reports.
Tanker pushed aground on Staten Island
Maersk adjusts for Asia-Europe winter disruptions
Landmark, bpost in acquisition talks Belgian postal operator bpost is in talks to acquire a majority share of Ontario, Calif.-based Landmark Distribution, a cross-border parcel logistics specialist, and sister company Landmark Trade Services in Canada.
Maersk speeds up Asia-W. Africa loops again
Panama Canal Authority awards contract for new bridge
ABS opens energy technology centre Focus areas will include LNG technology, renewable energy development, alternative fuels and environmental efficiency.
Marine gas oil prices unchanged in Fujairah But markets maintained a mixed picture elsewhere.
US East Coast distillates may face upward price pressure Low inventories and imports prompt concerns about supplies ahead of winter months.
IFO prices down across Europe Weak demand seen in most markets.
Cosco looks to full-year loss High bunker prices identified as factor in weak financial performance.
Replacement found for arrested cruise ship Australian company says it has found substitute tonnage for arrested vessel.
Costly bunkers eat into SITC profits But Chinese carrier plots brighter future on expected regional growth.
Dynamic Oil Trading hires again Recently launched Wrist Group company says it expects to make further appointments.
Losses widen at Scorpio Tankers Fuel efficient newbuildings put firm in 'desirable position', says CEO.
IFO prices largely down at major ports Supplies of bunker fuels fine at key Asian ports on Tuesday.
Azerbaijan toughens domestic shipping laws Requires vessels trading within inland territorial waters to carry four additional documents.
Performance system achieves fuel efficiency Eitzen Chemical has seen improvement in vessel fuel consumption, says spokesman.
US barge operator posts marginal increase in net profit Due to high utilisation levels and price increases for services, says Kirby Corporation.
Director leaves Singapore-based bunker trading firm Resignation takes effect from October 25.
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