Bulker recovery predicted CHINA COSCO Bulk, the dry bulk group under the China COSCO conglomerate, said it expected the global dry bulk market to recover gradually in the next 2-3 years
BAE layoff put in context IHS MARITIME's Rob Willmington sought today to put the UK job losses at BAE's shipyards into a wider perspective for the newbuilding sector
VARD's profits drop 67% VARD Holdings said today net profits for 3Q12 fell 66.7% year on year to 76M kroner ($12.75M)
COSCO unit's profits fall COSCO (Singapore) posted 3Q13 profits of S$4.2M ($3.4M), a drop of 84% year on year
EC to investigate French tonnage tax rules THE EC said today it had opened an inquiry into France's application of favourable tonnage tax provisions to chartered vessels under non-EU flags
Seaspan prices PPE deal NYSE-listed Seaspan has priced a $50M follow-on offering of perpetual preferred equity, garnering a significantly lower sum than it sought in last month's failed capital raise
Chinese yards operate at half capacity CHINESE shipyards are expected to operate at just 50-55% of aggregate building capacities in 2013, a Ningbo conference heard today
New icebreaker newbuilding deal seen near UNITED Shipbuilding Corp's Baltic Shipyard unit is to get a new contract before the end of 2013 for Russia's newest series of nuclear-powered icebreakers
Russia's gas total rises RUSSIA'S gas production in October grew 15.7% year on year, the energy ministry's data unit has revealed
Wilhelmsen's results weaken NORWAY'S Wilh Wilhelmsen today reported weaker results for 3Q and the first nine months of 2013
Hanjin might need lending KOREAN Air might need to lend more money to Hanjin Shipping, analysts warned today
Swiber expects $91M from sale SWIBER Holdings, Singapore's offshore services provider, said today its disposal of its entire shareholding in subsea unit Kreuz Holdings will produce a net gain of $90
China coal imports to top 300M tonnes CHINA'S coal imports in 2013 were today predicted to exceed 300M tonnes
Wan Hai joins Inter-Asia in Yangon service TAIWAN'S Wan Hai Lines plans to deploy a boxship on two Yangon services, jointly with two ships from Inter-Asia Lines
Drybulk recovery predicted DRYBULK shipping should see sustained recovery, said a shipping analyst predicted today at a conference in Singapore
Cargo Volumes Up at ANA, JAL Japan's All Nippon Airways Co. (ANA) said that its international cargo volume rose for the seventh straight month in September on a year-on-year basis, increasing 5.8 percent to 49,999 tons. The volume of cargo ANA carried on its international routes in the first half of fiscal 2013, which started on April...
Port Privatizations Could Boost Ho-Hum M&A Transport Market Cargo containers at the Port of Piraeus. Major merger and acquisition activity in the global transportation and logistics industry was nothing spectacular in the third quarter, but a potential wave of privatization of ports, airports and roadways could energize the market in the coming year. There were 40 transportation and logistics transactions...
Maersk Ends Nhava Sheva Congestion Surcharge Maersk Line has lifted its congestion surcharge of $150 per 20-foot container imposed earlier on shipments to and from the Port of Nhava Sheva (Jawaharlal Nehru), India. The Danish carrier in a notice to customers said the congestion and delays that gripped the country's largest container port over the past few...
Walker SCM Chooses CargoWise NEW YORK - The transportation division of Walker SCM, LLC, a minority-certified global transportation and logistics firm based in Valley Stream, NY, has selected CargoWise as its technology partner for international transportation management. A global leader in IT solutions that improve visibility, efficiency, quality of service and profitability, CargoWise is renowned...
Graybar Names Dale Sheff Controller ST. LOUIS, Nov. 5, 2013 - Graybar, a leading distributor of electrical, communications and data networking products and provider of related supply chain management and logistics services, announced today that Dale R. Sheff has been named Controller, effective November 1, 2013. He replaces Martin J. Beagen who retired on Jan. 1,...
NTTC's Tank Truck Week Sets Performance Records ARLINGTON, Va., November 6, 2013 - The National Tank Truck Carriers (NTTC) announced today that its recent Tank Truck Week program set performance records for attendance, booth sales, and equipment spots. The program was held in Houston, Texas in an effort to capitalize on the growing energy services segment of...
Kuehne + Nagel appoints new National Manager for Ireland Dublin / Ireland, November 6th 2013 - Kuehne + Nagel has appointed Pamela Doyle as National Manager for its Ireland organisation, effective 1 November 2013. She succeeds Marcus Bennett who was recently announced as National Manager for the United Kingdom. With 13 years' service in Kuehne + Nagel, Pamela Doyle has...
Trailer Bridge Signs New 10-Year Lease With Jaxport Trailer Bridge offers cargo transportation services to and from Puerto Rico and the Dominican Republic via Jaxport.The Jacksonville Port Authority and long-time tenant Trailer Bridge have signed a new 10-year lease to continue the container line's operations at the Florida port's Blount Island Marine Terminal. The contract also includes two additional...
Norbert Dentressangle awarded for its social initiative "Log'ins" at the 6th National Corporate Citizenship Trophies event The trophy rewards exemplary initiatives launched and implemented by companies in the interests of society. Regardless of whether such initiatives are designed to directly benefit the company's employees and partners, their local area or their country, they proactively combine the values of corporate citizenship with the primary aim of generating...
US Farm Groups Push for China to Approve Biotech Traits The American Farm Bureau Federation, American Soybean Association, National Corn Growers Association and U.S. Canola Association have voiced concerns about ongoing delays, lack of transparency and arbitrary decisions in China's process of approving new biotechnology traits. In a letter to U.S. Trade Representative Ambassador Michael Froman, Commerce Secretary Penny Pritzker and...
Horizon Lines' Revenue Drops as Container Volume Contracts Horizon Lines reported its revenue in the third quarter of 2013 dropped 2.1 percent year-over-year to $273.7 million, caused by an $8.0 million volume contraction and lower fuel surcharges of $5.4 million. Quarterly container volume reached 59,059 revenue loads, down 4.0 percent from 61,514 loads, primarily driven by the reduced number...
Federal Judge Cites ILWU for Contempt of Court Snake RiverA federal judge has found the International Longshore and Warehouse Union in civil contempt of court for ignoring an order to stop waterborne picketing at grain barges. On Oct. 31, U.S. District Judge Ann Aiken ruled that there was "clear and convincing evidence" that the ILWU breached a previous injunction,...
Cushman & Wakefield Completes Sale of Houston Industrial Warehouse Property HOUSTON, TEXAS, Nov. 5, 2013 - Cushman & Wakefield has completed the sale of 6501 Navigation Blvd., a 303,000-square-foot warehouse facility set on 21 acres in Houston's Eastside industrial submarket. The commercial real estate services firm's Houston, Texas-based team of Jim Foreman and Beau Kaleel represented the seller, GSL Navigation...
Greek Dockworkers Join 24-Hour Nationwide Anti-Austerity Strike Greek longshoremen have joined a 24-hour nationwide strike today called by labor unions to protest austerity measures imposed on the crisis-mired country by international lenders. Road, sea and rail transport was severely disrupted as visiting officials from the "Troika" of the European Commission, the European Central Bank and the International Monetary Fund...
Cheetah to Exhibit at the 2013 IANA Intermodal Expo Westlake Village, CA (October, 2013) - Cheetah Software Systems, Inc., a cloud-based transportation logistics solutions provider, will be exhibiting at the Intermodal Association of North America's 2013 Intermodal Expo on November 17 - 19, 2013 in Houston, TX. In addition to demonstrating the Cheetah Logistics Operations Optimization Platform (LOOPTM), Cheetah...
Wilh. Wilhelmsen ASA, World's Biggest Ro-Ro Carrier, Posts Lower Profit Wilh. Wilhelmsen ASA, the world's biggest deep-sea roll-on, roll-off shipping line, reported its third quarter profit declined to $78 million from $246 million a year ago because of lower global car shipments and one-off items. The result in the third quarter of 2012 was skewed by the $134 million net gain...
Cosco Chairman Ma Confident Company Will Avoid Delisting The chairman of Cosco Group expressed confidence on Wednesday that the company would achieve its financial goals for 2013, signaling the company is aiming to achieve a full-year profit and avoid delisting from the Shanghai Stock Exchange. "We are confident that we will achieve the goal we planned at the beginning...
Steam Logistics Adopts CargoSphere Rate System Chapel Hill, North Carolina, November 5, 2013 - CargoSphere, the leading, cloud-based global rate management solution and confidential Rate Mesh network for the ocean and air transportation and logistics industries, today announces Steam Logistics' rapid implementation of the CargoSphere system and ROI (return on investment). Within 3 months, Steam Logistics' Pricing Team was sending...
Walking dead? A growing number of industry researchers who follow the US tanker space are convinced that Huntington Ingalls Industries (HII) and its ailing Louisiana shipyard have abandoned plans to pursue commercial projects.
Montoir bags 2nd LNG STS French LNG terminal operator Elengy has transhipped its second cargo of LNG at its Montoir-de-Bretagne facility, shifting the volumes from a membrane-type LNG carrier into the world's largest Moss-type newbuilding.
Sigma signs Nan Fung duo The shipping arm of a leading Hong Kong financial conglomerate has emerged as the newest member of an aframax pool controlled by Heidmar.
Rickmers raids Commerzbank Erck Rickmers is poaching Commerzbank's top shipping man to become the next chief executive officer (CEO) of ER Capital Holding.
Frigate fights off pirates A Ukrainian frigate has thwarted an attack on a Ukrainian vessel in the Gulf of Aden.
Craig firmly in the black Scottish shipowner Craig Group has celebrated 80 years of trading with a profit in the year to 30 April.
Great Harvest adds a fifth Great Harvest Maeta appears to be behind the purchase of a panamax bulk carrier reported sold last week.
GOS strengthens India's Global Offshore Services (GOS) has posted an increase in earnings in the second quarter as revenue grew.
Palumbo released Italian shipyard owner Antonio Palumbo has been released from house arrest as a toxic waste case drags on.
Cosco's offshore struggle Cosco Corporation's (Singapore) is suffering from its lack of experience in the offshore sector, analysts say.
French owners in tax probe The European Commission has begun a probe into changes to France's tonnage tax rules that may have extended benefits too widely.
Crew rights cargoship A sudden list sent an officer and a deck cargo of timber overboard from a Russian cargoship off Germany.
Seacor eyes over $200m Seacor Holdings plans to raise up to $230m from a convertible bond offering to private investors.
Sado on the slide Japan's Sado Steam Ship has seen profit slip in the first nine months - and worse is to come.
Finnlines trio in the clear Three employees of Finland's Finnlines will not be prosecuted in a Syrian arms smuggling case.
Inui loss falls Inui Steamship of Japan has slashed its loss in the first half as revenue improved.
WW down by a third Wilh Wilhelmsen's third quarter earnings were sliced by around a third as cargo volumes fell.
Bourbon better again French offshore group Bourbon has continued to enjoy revenue growth in 2013 as demand grows.
Seaspan aims for $57m Second bite at share issue is much smaller than aborted October offering.
PSA makes Yangtze move Singapore's PSA International (PSA) is buying into CSCL's Lianyungang terminal in China.
Brazil still hitting Vard Vard Holdings, the Singapore-listed offshore vessel shipbuilding group, continues to take a hit from its operations in Brazil.
Greece hit by strike Greek ports were being disrupted by strike action on Wednesday in the latest round of anti-austerity protests.
Capital files for IPO Capitol Nusantara Indonesia has moved a step closer to going public after filing a registration statement with financial regulators.
OSX shows signs of life Struggling Brazil shipbuilder OSX looks to have been thrown a potential lifeline by its banks and bond holders.
Mangrove takes profit Hedge fund Mangrove Partners looks to have reduced its stake in US-listed tanker owner DHT Holdings.
Jam now, peanuts later The proposed sale of Kreuz Holdings to a private equity firm has not gone down well with two Singapore analysts.
Attention on the bridge The London P&I Club has sought to remind owners of the dangers that complacency on the bridge can have on the incidence of casualties.
Heerema eyes monster Heerema Marine Contractors is preparing to rewrite the history books with plans for a giant semi-submersible crane vessel.
Triton, FPS Rotterdam to launch LCL import service
Freight shipments, expenditures fall in October Freight shipments and expenditures fell in October by 3.5 percent and 2.6 percent, respectively, when compared to September's results, according to Cass Information Systems, which blamed the government shutdown.
MOL Caledon first to call at London Gateway
Mexican government takes control of Lazaro Cardenas
China Air Express, U-Freight link up
Propane shortage prompts states to relax truck HOS rule Abnormally wet conditions in the Midwest have led to high moisture levels in grain, which must be dried before it is stored to prevent rotting. Processors use propane gas to fuel grain dryers.
FAA makes major upgrade to pilot training rules The major rewrite of pilot training rules stems in part from the crash of a Colgan Air commuter plane in icy conditions in 2009 and a subsequent congressional mandate to enhance pilot training.
DOT commits $474 million to NY/NJ bridge project The $1.5 billion replacement of the Goethals Bridge calls for a six-lane, cable-stayed bridge with five-foot-wide shoulders. More than $30 billion in goods is said to cross the bridge each year.
Prices firm in Fujairah Avails remain tight in the port.
Mid-week prices mixed in Europe Strong demand reported in Hamburg.
New fleet manager for Bomin Vink took up his post at the beginning of the month.
LNG could be benchmarked to undercut conventional bunkers The strategy would be used as a way of securing market share and expanding the LNG market.
White Smoke to close LNG innovator calls it a day after four years.
Sources: Omani port moves closer to bunker market entry Two local firms granted bunkering licences.
Avails tighten in South Korea Two refiners 'not offering' on the spot market.
Asian bunker prices weaken Prices fell across all fuel grades.
MPA: Mass flow meters to be made 'mandatory' at Singapore But fitting existing barges with systems may prove 'tricky', says MPA spokeswoman.
Singapore-listed firm plunges into loss But fall was cushioned by lower bunker costs.
Shipping company sees improved Q3 profits But lower fuel costs forced it to cut bunker surcharges.
Boxshipping firm in fundraising effort Funds my be used to support vessel acquisitions.
Hong Kong bunker industry to grow, says official Hong Kong provides 'perfect base for international bunker players' to meet the needs of China's maritime sector.
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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