StealthGas unveils major expansion of fleet HARRY Vafias-led StealthGas today announced the $200M acquisition of 11 LPG vessels
Keppel bags jack-up order worth $440M KEPPEL FELS said today it has secured a repeat order for two jack-up rigs from Clearwater Capital Partners, worth an aggregate $440M
Star Bulk expands orderbook NASDAQ-listed Star Bulk today announced newbuilding contracts for three Newcastlemaxes and two Ultramaxes
Maersk nets Pentagon deals MAERSK US-flag subsidiary Maersk Line has been awarded more than $58M worth of contracts to support US military operations
Western Bulk targets $522M for IPO WESTERN Bulk of Norway today priced its IPO and told how many shares it intends to offer
Showdown planned on cruise ships in Venice ITALY'S government plans a meeting today to discuss the future of large cruise ships in Venice, after ministers intervened in a heated debate between local residents and the shipping industry
Seaspan adds to 'eco' orders GERRY Wang-led Seaspan Corp is continuing to pull the trigger on 'eco' newbuilding orders, confirming another five such contacts yesterday
PGS ups credit facility PETROLEUM Geo Services, the Oslo-listed seismic data company, said today it has increased its revolving credit facility
BP books newbuilding VLCC BP HAS reportedly booked a VLCC for two years as spot rates sink deeper into the red
August Container Trade Rose at West Coast Ports West Coast ports in August enjoyed a welcome bump in container traffic after seven months of lackluster performance this year. The volume of loaded import containers increased 3 percent in August year-over-year, and exports were up 2 percent. The performance was uneven, however, with most of the growth occurring at the...
US Manufacturing Index Climbs as New Orders Drop ISM Manufacturing: PMI Composite Index through September 2013 Full-size image The PMI Composite Index registered 56.2 percent in September 2013, its fourth consecutive month-to-month increase, according to the Institute for Supply Management. The index has risen 7.2 points since May 2013. The current level is 0.5 percentage points above August's index of 55.7,...
Hong Kong Launches Pilot Free Trade Zone in Shanghai Hong Kong has launched a pilot free trade zone scheme in Shanghai, according to Hong Kong's state council. "The Shanghai pilot free trade zone has great significance in deepening the economic reform and liberalization of our country," said C.Y. Leung, Hong Kong's chief executive, in a written statement. "We hope to...
Logwin Expands Warehousing in Indonesia Logwin's warehouse at the Soekarno Hatta Airport in Jakarta, Indonesia.Logwin has expanded its location in Jakarta, Indonesia, by moving into a warehouse at Soekarno Hatta Airport. The self-contained building, which is air conditioned and equipped with refrigeration rooms, is situated within the airport perimeter, allowing Logwin to take responsibility for the...
Grupo TMM Sells Truck, Auto Hauling Operations Grupo TMM has completed the sale of its truck and auto hauling assets and operations. The sale of these "non-strategic" logistics assets represents the elimination of "important" operating losses going forward, according to the Mexican intermodal transportation and logistics company. Furthermore, Grupo TMM plans to continue to work on alternatives to...
Vachon to Take Helm of Association of Canadian Port Authorities The Association of Canadian Port Authorities' board of directors has selected Sylvie Vachon, president and CEO of the Montreal Port Authority, to be chair of the board for 2013-14. The board also named Bernie Dumas, president and CEO of the Nanaimo Port Authority, as incoming vice chair of the board, and...
Global Air Cargo Continues Its Recovery The global air cargo market continued its "modest" recovery in August, with traffic increasing 3.6 percent year-over-year, the International Air Transport Association said. The August increase was better than year-to-date performance of a 0.7 percent expansion. Demand for air freight began increasing slowly from April, as economic performance in Europe and...
Solutions on Land: Solving the Somali Piracy Question The key to effectively ending piracy lies is grassroots development of land-based solutions in Somalia. This podcast interview with Dr. Theodore Karasik, Director of Research and Consultancy at the Institute for the Near East and Gulf Military Studies, examines the importance of Somali community engagement and discusses the recent UAE Counter Piracy Conference...
Norbert Dentressangle Takes Over Daher's Forwarding Unit Norbert Dentressangle's acquisition of Daher Group's freight forwarding activities has been completed, following French competition authorities' approval of the deal. The Daher operations, which achieved a turnover of €80 million (about US$108.2 million) in 2012, include a network of eight offices in France and three in Russia, with a total of...
US Cross-Border Truck Trade With Canada Rebounds U.S. cross-border traffic with Canada via truck saw increases in both directions in July, following two months of year-over-year declines in truck imports and exports, according to data from the U.S. Bureau of Transportation Statistics. Rail exports dropped this month, while imports continued to show growth. U.S. Cross-Border Trade by Truck With...
Indian Railways Hikes Freight Charges Indian Railways has announced a 15 percent hike in its freight charges for all bulk commodities, effective Oct. 1, as part of a "busy season tariff adjustment." "The busy season charge on all commodities will remain in force from Oct. 1, 2013, to June 30, 2014. Container and automobile segments are exempted...
Back to School For me, the month of September will forever be synonymous with the beginning of fall and the excitement and anticipation associated with the start of a new school year. So it seemed fitting that this column should address global supply chain management from the same perspective. It also happens to...
Diesel Prices Down in All US Regions U.S. diesel prices through Sept. 30, 2013 Full-size image U.S. diesel prices declined for a third straight week in the week ending Sept. 30, dropping a total of 6.2 cents during this period, according to the U.S. Energy Information Administration. Prices dipped in all U.S. regions. The national average price is $3.919, down...
KCS: Rising Trucking Costs to Propel Intermodal Growth in Mexico Rising costs for truckers in Mexico will drive more U.S.-bound freight from highways to rail networks, fueling strong intermodal growth, a Kansas City Southern Railway executive told the JOC Inland Distribution Conference. KCS, which connects to the top six major Class I railroads, is enjoying high double-digit quarterly intermodal growth, as...
DHL Expanding in the Philippines DHL is investing in new facilities in the Philippines on the back of improving economic growth and the expansion of air freight capacity at Clark International Airport. The former U.S. military base received its first wide-bodied aircraft earlier today when Emirates commenced operation of a daily B777-300ER link to Dubai. Other full-service...
Why NVOs' Share of US Import Cargoes Is Waning Just a couple of years ago, NVOCCs basked in the glow of the growing share of U.S. imports they were handling on behalf of importers. Ocean carriers were slashing vessel capacity to boost freight rates, and shippers in a scramble early in 2010 were forced to turn to non-vessel-operating common...
ContainerPort Group Moves to New Indianapolis Facility ContainerPort Group has moved to a larger and more centrally located facility in Indianapolis, which is expected to be fully operation by Oct. 7. The new facility's location is near Interstates 65, 70 and 465, and is well positioned to service the CSX rail ramp and Indiana Rail Road Co.'s newly...
What Would CBP Focus Be Under Former Drug Policy Czar? R. Gil KerlikowskeThe next politically appointed Customs and Border Protection commissioner faces a steep learning curve, funding challenges and calls from many in the trade community to improve a key trusted trader initiative. President Obama in early August nominated the nation's drug policy czar R. Gil Kerlikowske to take the top...
US Customs to Test Public-Private Partnership at Mexican Border Mariposa port of entry.U.S. Customs and Border Protection is finalizing talks with five entities to allow some U.S.-Mexico shippers to fund additional Customs and Border Protection staffing during busy times or for extended hours as part of a pilot project. Of 17 applicants, Customs has selected five projects in California, Florida...
SBLK unveils offering Star Bulk Carriers of Greece has returned to Times Square for the funds it needs to pursue fleet expansion.
Shell exits Eagle Ford All eyes were on Shell this week in the wake of reports that the Anglo-Dutch energy giant is looking to offload stakes in the Eagle Ford shale play in Texas.
Shutdown paralyses US The partial shutdown of the US government has crippled several federally funded agencies involved in the nation's maritime shipping industry.
ICAP ponders eco poser ICAP has suggested the arrival of eco product tankers could drive down a bull market as it revealed almost half of new MRs are controlled by stock-listed companies.
StealthGas' $200m swoop Harry Vafias-led StealthGas has stepped up its fleet expansion efforts with the addition of 11 vessels.
Boxship hit by fire Crew have tackled a blaze in the hold of a CMA CGM-managed boxship off South Africa.
NewLead in reverse split NewLead Holdings has unveiled details of its plan to regain Nasdaq compliance via a reverse stock split.
WBC takes eco pair Western Bulk has built up its eco dry-cargo fleet as it launched an IPO in Oslo today.
NOCC buying back Norwegian Car Carriers (NOCC) is buying back a chunk of its 2015 bond issue two years early.
Star Bulk orders five Greece's Star Bulk Carriers has returned to China for five more bulkers.
Sveaas in $200m IPO Christen Sveaas' Western Bulk is looking to raise over $200m from an initial public offering in Oslo.
SITC declares final four Hong Kong-listed SITC has taken its spending close to the $200m mark with a second big order in the space of two days.
South Africa lures ships South Africa is set to exempt domestically registered ships from tax in a bid to build its register back up.
Ambiente returns German operator Ambiente is returning to the cruise sector with a deal for an ex-Classic International Cruises (CIC) vessel.
Keppel bags repeat work Keppel FELS has won a repeat order from a US investment fund for a pair of jack-up drilling rigs.
Bulker bonanza for YZJ China's Yangzijiang Shipbuilding has won a new order to build up to six VLOCs.
Tanker in Turkish clash A Turkish tanker has been damaged in a collision with a livestock carrier in the Sea of Marmara.
Danaos bins another Greek containership owner Danaos has scrapped its seventh vessel of the year, reports say.
Cosco wins CMES bulkers China Merchants Energy Shipping (CMES) has confirmed an order for up to 12 bulkers at domestic shipyards.
Formosa plots lightering Formosa Plastics is seeking a vessel to remove fuel from its grounded tanker Formosa Falcon in the Bahamas.
MHI builds research ship Mitsubishi Heavy Industries (MHI) has clinched a deal for a new seabed research ship.
Odfjell swoops for four Odfjell has logged an order for four gas carriers at China's Nantong Sinopacific Offshore & Engineering Co.
MOL and Kansai team up Mitsui OSK Lines (MOL) and Kansai Electric Power has reached a deal to co-own two LNG carriers ordered last year.
Antoniou joins AMCI Harris Antoniou has been named as the new chief executive of Swiss-based commodities trader AMCI Group.
Seaspan adds five more Seaspan Corp has returned to China to order a further five 10,000-teu containerships, the company has confirmed.
GSI seals Longxue deal Guangzhou Shipyard International (GSI) has formally agreed to buy Longxue Shipyard in a deal worth CNY 956m ($156m).
APT wins navy charter American Petroleum Tankers (APT) has secured a lucrative charter from the US military for two of its tankers.
TIACA seeks end to TSA screening data requirement The organization asked TSA Administrator John Pistole to certify that its 100-percent cargo screening program for passenger flights has achieved the threshold mandated by Congress and to remove the reporting requirement for screening data.
Washington Notebook: Economists predict more slow growth as government shuts down
Ex-Im Bank supports ag aircraft exports to Brazil
New Austral Asia Line serves West Coast Under the multi-year contract, American Worldwide Agencies will serve as sales agent for AAL's direct port calls to and from Long Beach and Los Angeles; Vancouver and Everett, Wash.; and ports in British Columbia, Korea and China.
Drewry: Expect more sailing cancellations
Wallenius Wilhelmsen acquires Australian firm
EPA restricts certain carpet imports
Georgia ports report higher volumes in August The Georgia Ports Authority said it handled 2.5 million tons of cargo in August, 8.5 percent more than in August 2012. Container volume amounted to 280,873 TEU, 3.8 percent more than in August 2012.
SEKO creates omni-channel logistics platform The division, called SEKO Omni-Channel Logistics, is aimed at giving customers a single platform for global fulfillment, delivery management, returns solutions, and e-commerce development and design.
'Maersk Line continues to face unsustainable market rates' Container shipping giant in new bid to drive up rates.
Middle East bunker prices show small losses Cape Town MGO prices down by $22.50 pmt.
Prices soft in European markets Congestion in Rotterdam.
Crude futures react to US shutdown Prices soften, but not significantly.
Northwest Passage cuts fuel bill Bulker to complete voyage next week.
Chinese firm continues ship-buying spree By placing orders for 'eco-friendly, fuel-efficient bulkers'.
New refinery's straight run product 'placed with Shell' Cargo heading for Singapore, say sources.
Russian ministry backs development of LNG as marine fuel LNG powered engines could cut costs by 15%.
Fuel oil storage deal at Danish terminal Contract has immediate start for a minimum six-month period.
Singapore bunker prices show little movement No problems with supplies.
Firm considers Mobile for low sulphur bunkering facility 'This project has the potential to expand our current revenue model beyond the maritime industry.'
Bunker tax hike proposed for US domestic sector Funds to be used towards the upgrading of inland waterway system.
Brightoil posts loss Firm's international trading and bunkering operations in the red.
Seaspan orders more fuel efficient vessels New boxships to be built to company's SAVER design.
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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