Box rate seesawing warned THE RATE increase in the Asia/Europe box trade is being sought as of today, but rates are likely to continue to seesawing, a senior shipping analyst predicted
Ardmore files in NY for IPO ARDMORE Shipping is testing the NY waters for what could be the first mainstream shipping IPO since 2010 - presenting an intriguing foil to Scorpio Tankers
1,700 boxes sank with Comfort's stern MITSUI OSK Lines confirmed to Fairplay today that about 1,700 containers sank along with the stern portion of MOL Comfort
SMM wins $417M deal SINGAPORE's Sembcorp Marine said today it has secured two orders for jack-up rigs from returning client Oro Negro, worth a total of $417M
Foxx urged to stress US infrastructure REBUILDING US infrastructure should be a priority for Anthony Foxx as the successor to US Transportation Secretary Ray LaHood, a key senator has urged
Otto bags $50M order SINGAPORE-listed offshore yard Otto Marine said today it sold another support vessel for $50M to RY Offshore Ltd
MOL sells three bulkers MITSUI OSK Lines has sold three bulkers in its push to streamline its fleet and restore profits
SCF costs appeal rejected THE UK Court of Appeal has unanimously dismissed a claim by two Sovcomflot subsidiaries that sought legal costs from former fleet charterer Yury Nikitin
Ningbo wastepaper imports rise by 339% CHINA'S Ningbo imported 1.08M tonnes of wastepaper in the first five months 2013, 339% more than in that period of last year
US court clears TMT cash TMT HAS secured authorisation from US Bankruptcy Court in Houston to use cash collateral to meet operating expenses
Chemoil unit granted $800M in lending SINGAPORE-listed bunker supplier Chemoil Energy said a subsidiary has secured $800M in syndicated bank loans
SAUDI ARAMCO raises July LNG contract price SAUDI ARAMCO has raised LPG contract prices for July
Another bunker player loses Singapore licence LICENCE of bunker supplier Coast-Channels Marine Services was not renewed today, said the Maritime & Port Authority of Singapore
Frontline issued shares in ATM deal FRONTLINE, the listed VLCC and Suezmax operator in John Fredriksen's business empire, said today it has issued 655,552 new ordinary shares under an at-the-market equity distribution agreed in June
Korea Line invites bids - again KOREA Line Corp today put itself up for sale all over again
TSA Lines Plan Trans-Pacific Peak-Season Surcharge Buoyed by positive reports on consumer confidence and spending, shipping lines that carry containerized imports from Asia announced today they plan to implement a peak-season surcharge of $400 per 40-foot container to all U.S. destinations effective Aug. 1. This would be the second rate hike in one month in the eastbound...
Rotterdam Bunker Fuel Prices Slide Bunker fuel prices - Rotterdam Full-size image Spot prices for high and low sulfur bunker fuel saw moderate declines in the week ending June 28, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. High sulfur bunker fuel reached its lowest average since June 2012. The average price...
TOTE Appoints Logistics, Trucking VPs for Carlile Transportation Systems John ArmstrongGene CarlsonTOTE Logistics has named John Armstrong as vice president of logistics and Gene Carlson as vice president of trucking operations for its subsidiary Carlile Transportation Systems. Armstrong joins Carlile from Alta Logistics, another subsidiary of TOTE Logistics, where he was the director of logistics. He has experience in leadership,...
SIA Cargo Restructures Management; Lee to Take Helm Singapore Airlines Cargo has appointed Lik Hsin Lee its new president, effective Aug. 1, 2013. Lee will succeed Kai Ping Tan, who will return to parent company Singapore Airlines as senior vice president of corporate planning, a post currently held by Lee. The management changes are part of an ongoing program...
USACE Report Favors Port Everglades' Channel Deepening A U.S. Army Corps of Engineers report on the proposed deepening of Florida's Port Everglades has said the project would improve safety and lessen delays, allowing more cargo to move through the port, accordign to the Miami Herald. However, the study also acknowledged that there would be some inevitable environmental damage...
US Exports by Truck to Mexico Jump Exports by truck from the U.S. into Mexico jumped nearly 20 percent year-over-year in April 2013, according to data obtained from the U.S. Bureau of Transportation Statistics. Overall value of cross-border traffic increased in April. U.S. cross-border exports to Mexico Full-size image The value of exports by truck from the U.S. to Mexico...
Total Quality Logistics Named a Top Workplace in Cincinnati Cincinnati, Ohio - For the fourth consecutive year, Total Quality Logistics (TQL) has been named a Top Workplace in Greater Cincinnati by Enquirer Media. Top Workplace finalists are determined solely by employee feedback gathered through an online survey conducted by an independent, third party. "Our people are our greatest asset. We invest in our...
BDP Becomes ACC Affiliate Member PHILADELPHIA, July 1, 2013 - The Board of Directors of the American Chemistry Council (ACC) has named as an affiliate member global logistics solutions firm, BDP International (BDP). BDP has been involved with the organization since 2002 when it became a partner in its Responsible Care® program, the chemical industry's...
Food Authority Expands Fleet with Fuel Efficient Vehicles from Ryder MIAMI--(BUSINESS WIRE)--Ryder System, Inc. (NYSE:R), a leader in commercial transportation and supply chain management solutions, announced today that Food Authority, a family-owned and operated food service provider that distributes produce and grocery products to Massachusetts, Connecticut, New York, New Jersey, Virginia, Maryland, District of Columbia, and Pennsylvania, has refreshed and expanded its fleet with 66...
Value of Japan's Imports, Exports Jumps in May Japan's imports and exports through May 2013; year-over-year change Full-size image The value of Japan's trade increased 10 percent in both exports and imports in May 2013, according to Japan's Ministry of Finance. Imports reached their highest value in more than 2 1/2 years. Japanese imports were valued at 6.763 trillion yen (about...
DHL Delivers Nine Gorillas Back to the Wild PLANTATION, Fla.--(BUSINESS WIRE)--In a unique conservation initiative in partnership with The Aspinall Foundation, DHL, the world's leading logistics company, has delivered a family of nine silverback gorillas from Port Lympne Wild Animal Park in Kent to the Batéké Plateau National Park, Gabon. The gorillas were transported 9,000 km, departing from the UK...
US Cross-Border Trade With Canada Climbs Cross-border trade via rail and truck between Canada and the United States climbed in April, according to data from the U.S. Bureau of Transportation Statistics. The combined value of exports rose 4.8 percent year-over-year to roughly $21 billion, while import value grew 5.3 percent to $18.7 billion. U.S. cross-border imports from...
CenterPoint Acquires Properties Near Port of Houston CenterPoint Properties has purchased six buildings, occupied by Exel Logistics, in Houston, for $42.6 million. The seller, TA Associates, was represented by Trent Agnew and Rusty Tamlyn of HFF. "This transaction proves our commitment to a thriving industrial market that serves our mission of investment in port, rail and intermodal-related facilities," said...
EU Proposes Ship Monitoring of CO2 Emissions The European Union said all ships of more than 5,000 gross tons calling at its ports would have to measure and report their annual carbon dioxide emissions beginning in 2018. The proposal by the EU's Executive Commission has been negotiated over several years and is unlikely to face much opposition from...
Port of Houston Orders Ship-to-Shore Cranes, RTGs Konecranes' STS cranes in Savannah, Ga.Konecranes has received a $56 million order from the Port of Houston Authority for four super-post-Panamax ship-to-shore cranes and three rubber-tire gantry cranes. The STS cranes will be shipped to PHA's Barbours Cut Terminal in late 2014 and supplied during the first quarter of 2015, while...
Add Three More Ships to Maher's List of Diversions Maher Terminals has diverted the following Zim vessels from its terminal at the Port of New York and New Jersey to other marine terminals at Port Elizabeth, N.J., to be discharged: Zim Qingdao, voyage 39E, will work at PNCT Terminals in Port Elizabeth on July 5. Zim Monaco, voyage 25W, will work...
32 Advisors Announces Duaine Priestley to Open Houston Office & Expand Energy Practice NEW YORK, June 27, 2013 /PRNewswire/ -- 32 Advisors is pleased to announce that Mr. Duaine A. Priestley has joined the firm. Mr. Priestley will open the 32 Advisors office in Houston, Texas this July. "We're excited that Duaine is joining 32 Advisors, and we anticipate that he will be...
FTR Associates Garner Forecasting Awards during Annual Automotive Outlook Symposium BLOOMINGTON, Ind.--The Federal Reserve Bank of Chicago presented two Freight Transportation Research Associates (FTR) forecasters with the Best Overall Economic Forecast award at the 20thAnnual Automotive Outlook Symposium. This year's symposium brought together experts to examine the near-term automotive forecast outlook and the impact of last year's automotive labor agreement. On...
Port of Milwaukee Assists in Exporting Locally Made Mining Shovel Milwaukee - An enormous, locally manufactured mining shovel will be loaded on an ocean-going vessel at the Port of Milwaukee's Federal Marine Terminal #2 on Friday. The Joy Global P&H model 4100 shovel will be transported aboard the Intermarine "Ocean Crescent" for delivery to the port of Manzanillo, Mexico. This...
Capt Wei calls it quits The market is rife with reports that the long-time chairman of China Ocean Shipping Group (Cosco) is retiring after nearly 20 years at the helm.
Swedbank upgrades SFL A leading European equity analyst upgraded shares of Ship Finance International Monday despite ongoing concerns about exposure to US-listed compatriot Frontline.
Stena inks rig order Stena Drilling of the UK has placed an $800m order for a pair of semi-submersible drilling rigs at Samsung Heavy Industries in South Korea.
York tied to tanker play A private equity firm led by US billionaire James Dinan has been linked to the acquisition of a pair of product tankers under construction in South Korea.
RABT frees up funds Loss making Rederi AB TransAtlantic (RABT) has made breakthroughs on several fronts in its ongoing war against costs.
KLC back in play Korea Line Corp is hoping to strike it second time lucky in the hunt for a buyer.
Two more for Wisby Croatia's 3 Maj shipyard said it has won another order from Sweden's Wisby Tankers.
Norden deal for Star Star Bulk has signed a short period contract for one of its supramax bulkers with Norden.
Maran builds Qatar ties John Angelicoussis's Maran Gas has added a pair of LNG newbuildings to its joint venture with Nakilat after the Qatari company tied up a huge refinancing package.
SFL in sale-and-leaseback John Fredriksen's Ship Finance International has taken a jack-up newbuilding from stablemate North Atlantic Drilling on a sale and leaseback deal.
Two more turn white The Thai and US flags have moved up to the Paris MOU's white list in 2012.
China's VL spur China could support orders for close to 100 VLCC newbuildings if its ambitious refining plans come to fruition, according to Poten & Partners.
Arrested ship grounds A Vietnamese bulker arrested for alleged rice smuggling has been forced ashore by a storm in the Philippines.
Excel faces cape fight A partner of restructuring Greek owner Excel Maritime is disputing the company's ownership of a capesize bulker.
Sembmarine's Mexican double Sembcorp Marine has secured yet another jack-up rig order from Mexico's Integradora de Servicios Petroleros Oro Negro (Oro Negro).
Suez security stepped up The Egyptian military has stepped up security around the Suez Canal to ensure growing protests do not disrupt shipping.
Pros and cons of P3 Maersk, CMA CGM and MSC's new alliance will boost profitability at the liner giants but will fail to dent the hot competition in the liner trade, ICAP says.
Master dies on tanker The body of a tanker captain has been brought ashore in New Zealand.
Vard slumps on warning Shares in Norwegian offshore vessel builder Vard have plunged by over a tenth after the company issued a profit warning on Friday.
Frontline ATM open Frontline has sold off over half a million shares in the first few weeks after launching an ATM offering aimed at helping its bond headache.
Fisher wins Total deal UK shipping group James Fisher has won a deal to supply monitoring equipment to a Total platform off Congo.
Ardmore getting better Anthony Gurnee's Ardmore Shipping has set its sights on a New York listing at a time when its financial performance is improving.
Angelicoussis takes two John Angelicoussis has returned to Daewoo Shipbuilding & Marine Engineering for a couple more LNG carriers.
Otto sells again Singaporean offshore owner Otto Marine has sold a second multi-purpose field and ROV support vessel to RY Offshore in a sale and lease back deal worth $50m.
Precious waits Precious Shipping will seek out more long-term charters when bulker rates see a definite upward trend.
Three more for Damen Damen Shipyards Group has announced new orders for two tugs and a workboat.
Containers lost off India An alert has gone out to ships off India after 17 boxes were lost from a Shipping Corp of India (SCI) container vessel.
Gas carrier set free India's Varun Shipping has managed to secure the release of its 57,200-cbm LPG carrier Maharshi Vamadeva (built 1991) but an aframax tanker remains shackled in Singapore.
SunStone fixes cruiser SunStoneShips and Comfort-at-Sea, two Companies linked to International Shipping Partners of Miami have lined up a new charter for the 12,800-gt cruiseship Ocean Atlantic (built 1986).
HOS rule change starts today The U.S. Federal Motor Carrier Safety Administration's new hours-of-service rules, which regulate the amount of break time truckers need to take during a shift, among other things, have gone into full effect as of July 1.
Broken MOL ship continues to be towed to port The Japanese liner carrier said Saturday evening that it's continuing to tow the fore portion of MOL Comfort, which broke in half on June 17 in the Indian Ocean. The aft part of the ship sank with most of its boxes.
Port Everglades makes headway toward harbor dredging After 17 years bogged down in Washington bureaucracy, the Florida port has passed a major milestone in its effort to excavate mud and sand from its channel to enable passage by much larger cargo vessels.
EU looks to police maritime emissions
CMA CGM completes French sovereign fund investment FSI's intent to invest in CMA CGM was first announced in February, when the carrier unveiled a financial restructuring designed to inject roughly $625 million into CMA CGM's coffers through investment and debt refinancing.
CenterPoint expands Houston footprint
IATA: Industry must be more attractive to investors
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