Oaktree eyes European shipping loan portfolios US hedge fund giant to extend principal shipping fund with $650m to deploy
Shipowners to absorb reinsurance costs for second year Gard, the UK Club and the London Club premiums rises in 2014
Sinokor expands tanker fleet with secondhand purchases VLCC secondhand values are stabilising
Capital Product tanker swoop could be a template for further acquisitions New purchases would increase cashflow available for distribution, say analysts
DryShips scores loan amendments GEORGE Economou-led DryShips today reported a lower adjusted loss and a relaxation of covenants on a key credit facility
Safe Bulkers bolsters orderbook POLYS Hajioannou-led Safe Bulkers today revealed three more eco-newbuild orders and reported falling profits on weak rates
Cruise giant restructures management CARNIVAL Corp today announced major succession changes to its management structure, including the retirement of long-time chief operating officer Howard Frank
Hyundai Mipo posts losses for 3Q13 HYUNDAI Mipo Dockyard posted losses for a second consecutive quarter
Crede seals $10M investment in FreeSeas HANDYSIZE specialist FreeSeas today confirmed a definitive agreement for a $10M investment by private equity firm Crede Capital
China-Taiwan 9-month trade rises 23.1% CHINA-Taiwan trade climbed up by 23.1% year-on-year in the first nine months of 2013
China's shipowners invoke M&M words on P3 CHINA Shipowners' Association has raised issues of "monopoly or manipulation of price" in connection with P3 alliance plans
50 migrants from Burma feared killed ABOUT 50 migrants from Burma were feared dead today in the capsizing of a smuggling vessel
Captain sought in fatal ferry sinking A FERRY captain missing since a fatal sinking is reportedly being sought today in Thailand
CIMC unit recovered $95M CIMC RAFFLES Offshore has received a combined $95M in lending and a newbuilding payment from Brazil's Schahin Group after two arbitration awards
Vessel count lifts VLCCs A LOW vessel count in the Gulf has helped the spot market for VLCC tankers to regain strength after prolonged weakness, analysts and brokers said today
TK boss takes helm at Korea Line TK CHEMICAL director Kim Yong Wan will helm Korea Line Corp from today, in line with a takeover by a consortium
KSS Line's 3Q13 profits rise 65% SOUTH Korean chemical and LPG shipping specialist KSS Line today posted net profits of 4.15Bn won ($3.8M) for 3Q13
CMA CGM Adds Brazil Call to South America-Caribbean Service CMA CGM's updated South America-to-Caribbean service.CMA CGM has added a weekly call at the Port of Vitoria, Brazil, to its fixed-day, weekly BRAZEX service connecting South America's east coast to the Caribbean. The new service will start with the Austral, voyage 933S/950N, scheduled to arrive at Vitoria on Dec. 30, 2013....
US Realigns Mad Cow Disease Rules With Global Standards The U.S. Department of Agriculture's Animal and Plant Health Inspection Service has finalized regulations for imports of bovine spongiform encephalopathy, commonly known as "mad cow disease," in line with internationally accepted scientific literature and standards set by the World Organization for Animal Health (OIE). The final rule will allow for the...
E-Commerce Explosion Sparks Building Boom The dramatic growth of e-commerce is driving demand for a product that can't be obtained online - big box e-fulfillment centers. E-commerce and omnichannel distribution centers are highly specialized and need to be located near population hubs. As e-commerce volumes grow, they've become so rare that they have set off a...
Most Wanted Features for E-Commerce Fulfillment Centers [Infographic] As retailers open new fulfillment centers to support growing e-commerce, they are seeking locations near important population centers that can ensure their supply chains flow smoothly. The following infographic identifies those features that commercial real estate firm Jones Lang LaSalle has identified as in demand. ...
ODFL Leader Jack Congdon Sr. Dies John R. "Jack" Congdon Sr., a longtime member of the board of directors at Old Dominion Freight Line, has died at the age of 80 following a battle with cancer. Congdon joined Old Dominion in 1951 and held various positions within the family business, up to and including senior vice president...
Genesee & Wyoming's Profit, Revenue Soar Genesee & Wyoming reported net income of $66.2 million in the third quarter of 2013, compared with a net loss of $19.6 million in the same period last year. "The third quarter of 2013 was the third reporting period in which G&W's consolidated results included the former RailAmerica railroads," said Jack Hellmann,...
London Gateway to Open for Business on Nov. 6 London Gateway in August 2013London Gateway, the first major new port to be built in the U.K. for several decades, will open for business on the north bank of the River Thames on Wednesday, Nov. 6. The arrival of the MOL Caledon, a 5,000-TEU container ship operated by Japan's Mitsui O.S.K....
United Airlines Releases Innovative Cargo Carbon Emissions Calculator CHICAGO, Nov. 1, 2013 /PRNewswire/ -- United Airlines, in partnership with Sustainable Travel International, today announced the release of an enhanced cargo emissions and offset calculator that quickly computes and presents per capita carbon emissions for customers shipping via United Cargo. United is the only U.S.-based carrier to offer the calculator to its customers. Recognizing the emerging...
South Carolina Ports Authority to Launch Clean Truck Program SCPA's Clean Truck Certification Program will launch in 2014.The South Carolina Ports Authority will launch a clean truck certification program on Jan. 1, 2014, to reduce port-related air emissions at SCPA's container terminals. Launched as a result of the Navy Base Terminal permit process, the program requires trucks serving the container...
P3 Alliance Speeds Up Service Schedules The service schedule for the launch of the P3 Network in May 2014 indicates that its three member carriers intend to maintain or even accelerate vessel speeds. The schedule announced two weeks ago by Maersk Line, Mediterranean Shipping Co. and CMA CGM could force other carriers to speed up their vessels,...
Collaborative Distribution is Focus of CSCMP Session Featuring Kane Is Able and Sun-Maid Growers SCRANTON, PA - November 1, 2013 - Michael Marlowe, Sr. VP of Operations at third-party logistics provider Kane Is Able, Inc. (KANE -- www.kaneisable.com), and Sean Vasquez, from Sun-Maid Growers of California, co-presented the session, "Realizing Supply Chain Cost Reduction Through Collaboration," on October 22, 2013, at the recent CSCMP Annual Global Conference...
Aboriginal Groups Announce the Creation of the Coastal Aboriginal Shipbuilding Alliance (CASA) North Vancouver - Three Aboriginal training and employment organizations today signed a Memorandum of Understanding (MOU) to create the Coastal Aboriginal Shipbuilding Alliance (CASA). In the MOU, witnessed by Jonathan Whitworth - CEO of Seaspan ULC (Seaspan), the Aboriginal Community Career Employment Services Society (ACCESS), Coast Salish Employment and Training Society (CSETS) and First Nations...
ATA Welcomes Ruan Transportation Management Systems Back into Federation Arlington, Va. - Today, American Trucking Associations President and CEO Bill Graves welcomed Ruan Transportation Management Systems back as a member of the organization. "We're always pleased when we can add a member as distinguished as Ruan," Graves said. "They've been a leader in our industry for many years and it is...
OnTrac Partners With St. Vincent de Paul to Deliver Hope, Food for Million Can Crusade CHANDLER, Ariz., Nov. 1, 2013 (GLOBE NEWSWIRE) -- OnTrac is proud tosupport St. Vincent de Paul in its effort to help Arizona's hungryfamilies this holiday season.St. Vincent de Paul will team up with KNIX 102.5's morning show team,Ben and Matt, to host the Million Can Crusade.The Crusade, which will run...
HAROPA strengthens its rank as the world leader on the wine and spirits market HAROPA sales teams will participate, for the 4th time, into the Hong Kong International Wine & Spirits Fair, the biggest exhibition for Wine and Spirits, which will take place from November 7th to November 9th, inst. HAROPA, the world leading port for the export of wine and spirits Being a main event in...
RoadOne IntermodaLogistics Appoints Rick Longerbeam as Norfolk Terminal Manager Randolph, Massachusetts, November 4, 2013 - RoadOne IntermodaLogistics, a leading single source intermodal, distribution, and logistics services company, announces today the appointment of Rick Longerbeam as terminal manager for RoadOne IntermodaLogistics' Norfolk, Virginia location. Rick will lead RoadOne's expansion in this market to support the intermodal needs of customers in this important...
Manhattan Supply Chain Commerce Solutions Provide Platform for Growth at Shanghai Pharma SHANGHAI and ATLANTA, Nov. 4, 2013 (GLOBE NEWSWIRE) -- Shanghai Pharmaceuticals Holding Co., Ltd. (Shanghai Pharma), a national pharmaceutical group headquartered in Shanghai, China, has successfully deployed the latest version of Manhattan Associates' (Nasdaq:MANH) Warehouse Management solution (WMS) at a new warehouse facility in Shanghai, China. This latest project success will enable the pharmaceutical giant to...
Breathing room for DryShips DryShips struck a deal with banks led by Germany's HSH Nordbank to relax its debt burden as it reported wider third-quarter losses.
Dorian taps OTC again Dorian LPG is on track to raise a further $250m through an offering on Oslo's over the counter (OTC) exchange, sources familiar with the deal tell TradeWinds.
Ex-US Gulf rates surge Spot rates for products tankers carrying cargoes out of the US Gulf of Mexico region are surging as idled refinery capacity comes on line, an analyst said today.
Carnival shakeup continues Carnival replaced chief operating officer Howard Frank with the chief executive of its Princess Cruises line.
Ross hunts more Wilbur Ross-controlled Navigator Holdings has upsized the purse it is hunting from its IPO.
Uljanik stays red Croatian shipowner Uljanik Plovidba reported a slightly deeper third quarter loss on lower freight rates.
Ro-pax hits dock A BC Ferries ship is out of action after smashing into a dock in high winds.
Cash shot for Freeseas Crede Capital Group (CCG) has been named as the investor ploughing $10m into Nasdaq-listed bulker owner FreeSeas.
Baltic in $160m splash Baltic Trading is tipped to have splashed out $160m on four second hand ships.
KSS profit curbed Korean chemical and gas-carrier owner KSS Line has reported a big drop in third quarter profit on lower revenue.
Crewman in drugs bust A seafarer has been convicted for his role in smuggling cocaine on an MSC cruiseship.
Oaktree eyes loan deals US heavyweight Oaktree Capital believes banks are starting to accelerate asset sell-offs.
Vinashin superseded Vietnam's transport ministry is winding up debt-ridden shipyard group Vinashin and replacing it with a new state holding company.
Nakilat appoints new MD Qatar's Nakilat has appointed Abdullah Fadhalah Al Sulaiti as new managing director of the company.
HMM lowers sights Hyundai Merchant Marine (HMM) has slashed the price of a planned share offering but could make up for any shortfall through an IPO of its logistics unit, it is claimed.
Crewman's fatal mistake A Stolt Tankers crewman died after entering a tank without checking it was free from fumes, an inquest has heard.
CSSC Holdings crashes China CSSC Holdings has posted a 97% drop in earnings in the first nine months.
VL spike whets appetite A sharp rise in VLCC spot rates has come at a time of rising investor interest in the sector, analysts note.
Yang Ming sells again Taiwan's Yang Ming has raised more money by offloading another slice of its Kaohsiung terminal.
Danaos cashes another Danaos has boosted its fleet renewal cash pile with the scrapping of a fourth containership in three months.
Mipo nets four more Adamantios Lemos-controlled Unisea Shipping has signed a $120m contract for four products tankers at Hyundai Mipo.
Rickmers scales back Rickmers Holding has increased an existing corporate bond issue, but has been forced to scale back from its initial target.
Caspian owners combined Azerbaijan merges two state groups to bring tanker and offshore fleet to more than 100 ships.
Dombret downbeat German lenders are likely to reduce their shipping books further before any market recovery, according to Bundesbank director Andreas Dombret.
Kreuz profit up 60% Kreuz Holdings has seen third quarter profit leap 60% on a year ago to $16.6m, the company reported Monday.
Yard workers chopped Six hundred workers are to be laid off at Croatian shipyards Uljanik and 3 Maj.
Hosco ship arrested Hebei Ocean Shipping Co (Hosco) has had a kamsarmax bulker arrested in Singapore by the admiralty sheriff.
CHO sees weaker start CH Offshore has made a weak start to the new financial year with a 20% decline in first quarter net profit.
Oldendorff in at Catic Taizhou Catic Shipbuilding has made a dramatic debut in the Newcastlemax bulker sector with orders for eight ships worth $440m.
IMS offloads SGCS stake IM Skaugen (IMS) has agreed to sell its 50% holding in Shenghui Gas and Chemicals Systems Co Ltd (SGCS).
GE refinances Laborde Laborde Marine has secured $22.5m in equipment financing from GE Capital to go towards a series of newbuildings.
Mad cow rule to strengthen beef trade The U.S. government has raised its import regulations regarding bovine spongiform encephalopathy to international standards. Officials say this will allow the government to press for trade to nations that don't accept U.S. beef.
American official meets with Florida attorney general Florida Attorney General Pam Bondi met Friday with Tom Horton, American Airlines' president, to talk about the proposed merger between American and US Airways. Bondi supports the Department of Justice's antitrust lawsuit.
EU, U.S. set dates for second round of trade talks
P3 speeds will challenge other carriers Drewry said the P3 carriers are projected to maintain or improve headhaul vessel speeds, and the firm expects competitors "to follow P3's speed improvement on headhaul routes in 2Q 14 whether these carriers can afford it or not."
Trailer Bridge, JAXPORT sign 10-year contract
Ontario to weigh biodiesel mandate
Oakland barge service gains traffic
Container index spike reflects GRIs The Shanghai Container Freight Index spiked upward on Friday, reflecting general rate increases being implemented by many carriers. Container spot rates increased for the sixth time in the past two years, according to Jefferies.
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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