How to set up a UK shipping operation As rules change, the tax position depends on individual circumstances
Transpacific box lines launch final rates push Critical time for carriers as annual contracts are renewed
UASC launches US west coast calls Tie-up with China Shipping Container Lines starts in May
MSC brings some welcome cheer A night to remember after a winter to forget
Solid ocean freight performance boosts Ceva revenues But southern Europe's economic woes take toll on earnings
Maritime Labour Convention leaves abandoned seafarers high and dry Crew remain unprotected as ILO delays debate to 2014
Alpha Gas hires Bernhard Schulte for LNG debut But Alpha not behind Samco VLCC purchase, as Angelicoussis emerges as buyer
Even one is too many Drastic changes to the maritime labour convention might be necessary to ensure seafarers are adequately protected
Korea Development Bank tipped to rescue STX units Group struggles to restructure its debts and to sell Pan Ocean stake
Navios Acquisition makes $144m grab for five tankers Swoop for handful of MR2s comes a few weeks after successful fund-raisers
BIMCO backs international guidance on rules for use of force But 100 Series RUF gives no indemnity or immunity against civil or criminal liability
ITF slams HIT for strike injunction ITF slams Hong Kong terminal injunction
Ten ships join Middle East VLCC glut over easter Too many eggs in one basket spells tonnage oversupply
Korea Line avoids delisting after debt-to-equity swaps Troubled dry bulk operator completes new restructuring drive
Armed team foils pirate attack off Somalia But separate incident in the Bay of Bengal claims at least 20 lives
Standard & Poor's predicts more big-name defaults Asset values and credit quality will be squeezed, ratings agency warns
Three German owners launch workout platform Frachtschiff-Kontor project backed by Rickmers, Schuldt and Laeisz
Beijing rolls out three-year shipbuilding boost EXCLUSIVE: More aggressive support for export sellers and buyer credit for eco-ship newbuildings and offshore orders
Intra-Europe box traffic will grow 8% Direct calls to Baltic threaten established hubs' market share
Germany at the crossroads The time for strategic choices is now
Rongsheng seeks record orders this year, says Chen EXCLUSIVE: But will private shipyard tap Fredriksen Group's buying spree?
Panalpina chief executive steps down Ulber succeeds Ribar from June
North Europe ports face stagnant volume growth Global Port Tracker blames nervous consumers for poor volume outlook
Landmark appeal dismisses Sovcomflot fraud claims Dmitry Skarga cleared after seven and a half year battle
Shipowner's appeal allowed in overage dispute Court of Appeal rejects arguments by BP and original trial judge
BLT receives stay against US litigation Stateside respite comes as Singapore exchange extends trading stoppage to April 30
Jiangsu Hantong wins Dolphin 64 trio CHINESE Shipyard Jiangsu Hantong Shipbuilding has won a contract for three dolphin 64 bulk carriers plus two options from an undisclosed Japanese owner
Frontline forecasts financing need Frontline, the listed VLCC and Suezmax operator in John Fredriksen's business empire, expects to need additional financing to cover its newbuilding obligations in the next 12 months, the company said in its annual report that was published today
S&P sounds alarm CREDIT ratings agency Standard & Poor's published a grim outlook on shipping rates today and predicted that more failures are imminent
Finnish minister concerned over state of STX Group A FINNISH government minister says financial problems at the South Korean STX Business Group, which owns two yards in Finland, are a source of concern, but are not unexpected
DHT sells OSG claims NYSE-listed DHT Holdings has opted to offload its OSG bankruptcy claims to Citigroup, according to a new filing with the Securities & Exchange Commission
Taiwanese carriers posted profits in 2012 TAIWANESE carriers Wan Hai Lines and U-Ming Marine Transport have both reported profits for 2012
SITC places order at Taiwan's CSBC CHINA'S mainland container shipper SITC International placed an order for eight 1,800teu box ships costing $23M each at Taiwan's China State Shipbuilding Corporation (CSBC) yesterday, according to Xinhua News Agency
Drybulk congestion eases AUSTRALIAN iron ore ports have 48 vessels queuing for access, down from 50 last week, but waiting time rose from 7.2 to 7.9 days
Saudi Aramco cuts LPG prices again SAUDI ARAMCO has slashed LPG contract prices for a fifth consecutive month
China box exports rebounded in Jan-Feb CHINA's container exports rebounded 16% year on year to $1.1Bn in the first two months of this year, according to customs data
VLCC owners and charterers should co-operate VLCC owners and charterers should co-operate to achieve mutual benefits, amid the oversupplied demand and slow growth in oil demand, said tanker broker McQuilling Services
Fred Olsen Energy in $88M contract extension FRED Olsen Energy, the listed drill ship and rig operator in the Fred. Olsen group of companies, says it has won an extension to a drilling contract worth $88M
Singapore extends BLT's protection THE Singapore courts have extended protection of PT Berlian Laju Tanker subsidiaries to 25 June
DHL Supply Chain to Build Japan Logistics Center Rendering of DHL's new Sagamihara Logistics Center.DHL's supply chain division in Japan will start construction work this month for its new Sagamihara Logistics Center in Sagamihara City in the Kanagawa Prefecture. Around 5 billion yen (about US$50 million) will be invested in the development over the next 10 years. The 44,000...
Intermodal Service Links Cochin Terminal, Bangalore State-owned Container Corporation of India has launched a regular intermodal rail service between the Vallarpadam International Container Transshipment Terminal at Cochin Port and Bangalore, a southern hinterland destination, following an appeal by terminal operator DP World. The request followed Zim Integrated Shipping Services making Cochin as a first port of call...
Tokyo Container Trade Hit Record High in 2012 The number of foreign trade containers handled by the Port of Tokyo rose 2.2 percent in 2012 from a year earlier to a record high of 4.235 million 20-foot-equivalent units, according to preliminary figures released by the Tokyo metropolitan government. In 2012, the Port of Tokyo, Japan's largest container port, exported...
Brian Conrad: Efficiency Goal of TSA-WTSA Merger Brian Conrad, executive administrator of the Transpacific Stabilization Agreement, explains why the TSA is being expanded to include the westbound trans-Pacific market. The change is set to take effect April 14, Conrad said in Newport, R.I., at the annual trade and transportation conference of the Coalition of New England Companies...
ITF Condemns Injunction Against Striking Hong Kong Dockers The International Transport Workers' Federation has condemned the temporary injunction that dismisses striking dock workers from Kwai Tsing Container Terminals in the Port of Hong Kong, claiming it is a violation of global standards. The ITF Hong Kong Dockers Coordinating Committee - comprising the Hong Kong Storehouses, Transportation and Logistics Staff Association;...
Report: Ship Operators' Liquidity 'Critical' for Survival Ship operators worldwide face "significant" refinancing and default risks, driven by tight bank funding, industry overcapacity, depressed trading conditions, high operating costs and declining ship charter rates, according to a report by Standard & Poor's Ratings Services, "Global Ship Operators Scramble for Liquidity to Stay Afloat." The report found that ship...
'Meager' Growth Expected for North European Ports' Container Volume Hackett Associates and the Institute of Shipping Economics and Logistics' latest Global Port Tracker study predicts that container handling in Europe's North Range ports will increase a "meager" 1 percent in 2013, reaching a volume of 40.1 million 20-foot-equivalent units. Furthermore, imports of laden containers in North Europe have been gradually declining...
IAG Cargo to Relaunch Operations in Sri Lanka Colombo, Sri Lanka.IAG Cargo will offer a full range of cargo services on its new passenger flights out of Colombo, Sri Lanka, starting April 15. The new route, which includes a stopover in the Maldives, will be operated three times per week using a Boeing 777 aircraft. Sri Lanka is an important...
MSC to Launch Asia-South America Service Mediterranean Shipping Co. will launch its own service between Asia and South America's east coast as a result of the termination of a slot charter agreement with CSAV. The port rotation of the new Ipanema service will be as follows: Shanghai, Ningbo, Chiwan and Yantian in China; Singapore; Santos, Brazil; Buenos...
U.S. Lines to Increase Asia-North America Rates U.S. Lines will increase rates for shipments from Asia to the U.S. West Coast, East Coast and Gulf Coast, as well as Canada's west coast, starting May 1: From Asia to the U.S. West Coast and Canada's west coast, the hike will be $640 per 20-foot container, $800 per 40-foot container,...
US Toy Imports Wind Down in Fourth Quarter 2012 Containers of toys imported through U.S. ports showed a slight decline in the fourth quarter of 2012, the first year-over-year decline since the first quarter of 2012. Imports edged down 1.5 percent to 160,203 20-foot-equivalent units from 162,710 TEUs in the fourth quarter of 2011. US Toy Imports Full-size image Imports showed mixed...
Golden State Foods Acquires McDonald's Distribution Center Golden State Foods has acquired a McDonald's distribution center in Lebanon, Ill., from Gateway Distribution. The facility serves more than 350 McDonald's restaurants in five states, including Illinois, Missouri, Iowa, Kentucky and Indiana. "We are looking forward to combining the long-standing traditions established by Gateway with GSF's, and continuing our strong partnership...
Geodis Wilson Names Jimeno as Managing Director for Colombia Santiago Jimeno, Geodis Wilson's new managing director of Colombia.Geodis Wilson has appointed Santiago Jimeno as managing director of Colombia, effective immediately. Jimeno will be responsible for all Geodis Wilson operations in the country, reporting directly to John Gallahan, regional vice president of the Americas. Jimeno is replacing Leif Voelcker, who has...
Norfolk Southern Names Schnautz Assistant VP of Research, Technology Tom W. Schnautz, Norfolk Southern's new assistant vice president of research and advanced technology.Norfolk Southern has appointed Tom W. Schnautz assistant vice president of research and advanced technology. He takes on some of the responsibilities of Gerhard Thelen, who retired on March 31 as vice president of operations planning and support. Schnautz...
TSA Lines See Pickup in Trans-Pacific Cargo Volume A combination of market indicators and forward bookings are pointing toward the early stages of an upswing in cargo volume on trans-Pacific trade routes, justifying the latest round of rate increases that took effect on April 1, according to the members of the Transpacific Stabilization Agreement. The carriers say that increasing demand...
Economic Pressures Squeeze CEVA's Earnings CEVA Group's revenue in 2012 was €7.2 billion (about US$9.3 billion), rising 4.8 percent from $8.9 billion in 2011, according to the supply chain management company's preliminary unaudited data. However, adjusted earnings before interest, taxes, depreciation and amortization in both freight management and contract logistics were adversely impacted by economic conditions,...
Buyer May Be the Real Winner in MSC Terminal Deal Mediterranean Shipping Co.'s sale of a 35 percent stake in its port operating arm Terminal Investments for just over $1.9 billion was good business for the Aponte family that owns the world's second-largest ocean carrier. But it could turn out to be an even better deal for the purchaser, Global Infrastructure...
First Quarter 2013: Winners and Losers There's been no shortage of market-defining action in the first three months of 2013. The rapid run-up in global stocks defies the plodding pace of economic growth, especially in the U.S. and Europe. Washington politicos beat back the initial threat posed by the fiscal cliff, but that story continues to...
Cosco to Hike Asia-Canada Rates in May Cosco will raise rates for all shipments on its eastbound trade from the Far East and Indian subcontinent to Canada, beginning May 1: For all Vancouver or Prince Rupret local and door dry cargo, the hike will be $640 per 20-foot container, $800 per 40-foot container, $900 per 40-foot high-cube container...
Pacer Names Krehbiel Intermodal Sales, Marketing EVP Pacer International has appointed Julie A. Krehbiel executive vice president of sales and marketing for intermodal, effective April 8. Krehbiel spent 23 years with Union Pacific Railroad in business development and marketing positions of increasing responsibility, which included service as president of distribution services and vice president and general manager of...
Strike enters day seven Evergreen Marine of Taiwan and other leading carriers have been forced to revise sailings in response to a strike that has crippled Hong Kong's container port for nearly a week.
Exmar LPG seals loan Nordea appears to have put the finishing touches on a $355m loan facility to Exmar LPG, a joint venture between Teekay Corp and Exmar.
Aframax raid continues Hellenic Tankers of Greece appears to have firmed up the acquisition of another aframax tanker with ties to BP Shipping.
UASC and CSCL deepen ties United Arab Shipping Company (UASC) and China Shipping Container Line (CSCL) are furthering their union by teaming up on three Transpacific services.
Zodiac sheds cape Zodiac Maritime has thrown its second capesize bulker on the scrap heap in a matter of weeks.
Others may fall A recovery widely expected in shipping markets next year may not come soon enough to prevent more big names from going to the wall, according to Standard & Poor's.
Scorpio's secret is out Credit Suisse has initiated coverage of Scorpio Tankers with a neutral rating on the stock.
Frangou buys five MR2s Navios Maritime Acquisition has splashed out over $140m on a quintet of MR2 product tankers.
Eagle spots takeoff Eagle Bulk Shipping has backed a recovery in the dry-cargo market to take hold within the next year.
SBM outlines fundraiser FPSO specialist SBM Offshore has laid out the terms of a new fundraiser to help pay for the settlement of a dispute.
Strike two for STX Offshore STX Offshore & Shipbuilding was stung again today on the Seoul Stock Exchange after revealing plans for a voluntary debt restructuring.
Prosafe sees more in Mexico Norwegian flotel owner Prosafe has penned fresh charter for one of its accommodation rigs and extended another.
DNB downs Awilco LNG Concerns over reduced cash flow have led DNB Markets to downgrade Awilco LNG.
BLT's three tier fight Embattled Indonesian owner Berlian Laju Tanker claims it is making "significant progress" in its battle to keep the lights on.
FOE stretches Borgland Fred Olsen Energy has stretched an existing charter contract for a semi-submersible drilling rig with a North Sea-based operator.
Evergreen eyes India Evergreen Line is extending its service network in the Indian Ocean in a tie-up with United Africa Feeder Line (UAFL).
DHT ditches OSG claim DHT Holdings has walked away from a battle with Overseas Shipholding Group over two axed charters after selling its exposure to Citigroup.
PCTC rates under strain Lower exports from Asian car manufacturers are having a negative effect on charter rates for PCTCs, says RS Platou Markets.
ASL fights back ASL Marine has challenged an allegation from Berlian Laju Tanker (BLT) that it "wrongfully arrested" one of its LPG carriers.
ORIG gets safety warning Ocean Rig has been pulled up by Norway's safety agency over deficiencies on one of its semi-submersibles.
Green buys CKN stock New Clarkson chairman Philip Green has wasted little time buying stock in the world's largest shipbroker.
TSA, WTSA merger takes effect April 14 Brian Conrad, TSA executive director, doesn't expect the westbound transpacifc trade in terms of rates and volumes to change significantly because of the merger. The market "is still going to be driven by basic market fundamentals," he said.
Ribar to step down as Panalpina's CEO Peter Ulber will become the new chief executive officer of Panalpina June 1, replacing Monika Ribar, who will focus on non-executive managerial roles, according to the Swiss freight forwarder.
OOCL stops chassis provision in Houston, Savannah
Strike at Hong Kong terminal stretches into second week
Evergreen reports $4.3 million profit for 2012
Maersk raising Europe export rates to Asia
Revenue-earning rail fleet up 1%
Canadian trucker turns to natural gas
Freight payment vendor Trendset rocked by embezzlement case The freight payment and audit services provider Trendset has alerted its clients to an internal fraud and embezzlement issue which could affect payments the provider was supposed to make on behalf of its shipper customers to their transportation carriers.
CBP uses budget reprieve to restore hours for border personnel The agency has begun authorizing overtime again for officers in the field and is postponing plans to furlough employees after last week's enactment of a six-month budget for the remainder of fiscal year 2013.
Winkowski takes lead of CBP Thomas Winkowski is now listed as the acting commissioner - technically the "deputy commissioner performing the duties of the commissioner" - and Kevin McAleenan is the acting deputy commissioner.
EPA halts certain Chinese motorcycle, ATV imports
Expanded forwarder IT system unveiled
U.S. to increase cattle, poultry and pear exports
DHL to build $50 million hub in Tokyo
IAG returns to Sri Lanka
USDA program to boost egg product exports
FMC reviews 21 OTI license applications
Executive moves
Trade Tech hosts Japan Customs advanced filing seminars
IFO prices lack direction in Fujairah Good demand and ample avails in Middle East hub.
Bunker prices in North West Europe respond to falling crude Rotterdam: Players report tight avails.
EGCSA questions benefits of switch to distillates Claims scrubbers provide better protection against harmful particulates, including black carbon.
Credit ratings agency warns of more defaults to come 'We think further shipping company defaults are likely over the next few quarters,' says S&P analyst.
Sulphur regulation compliance focus at IBC 34 Conference to be held in Gothenburg this month will look at the costs and confusion surrounding compliance with sulphur regulations.
Strike brings bunker scheduling problems Hong Kong container terminal sees berthing times climb to 60 hours.
Cyprus oil terminal 'could be expanded to include bunkers' International terminal operator says its confidence in the Cyprus economy is 'as strong as ever'.
Indian port expresses interest in providing bunkering facilities Port also hopes to provide shipbuilding and repair facilities in the future.
Bunker prices fall in key Asian ports Singapore's price of benchmark 380 cSt bunker fuel lowered $4 to average at $639 pmt.
PSA profits rise 10.7% 'amidst challenging conditions' High bunker prices cited as one of the factors creating 'an ominous and confidence-dampening environment'.
US led surge in 'Bunker Alerts' for 2012 Fuels in the US behind a third of DNVPS' alerts issued globally in 2012, with most occurring after ECA took effect.
Head of Analytics at Brightoil resigns Tay Guan Leng left the firm early last week.
GAC enters contract to serve Bibby Offshore GAC will provide Bibby Offshore with a range of complementary ship agency services, including bunker supplies.
BLT's restructuring plan sanctioned by Jakarta courts Plan had earlier been approved by BLT's creditors.
Tanzania authorities under flowmeter investigation Authorities to be investigated include the country's port and revenue authorities, says Public Accounts Committee chairman.
Ocean Intelligence to tackle Kinabalu for charity Model of coastal tanker to be auctioned as part of efforts to raise $9,000 for charity.
Researcher mulls future of electric vessels Willcox believes electric propulsion is gaining popularity.
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