Asia/Europe box rates fall back down SPOT RATES on the Asia/North Europe route have dropped - just a week after rate increases sparked a big surge in rates
Zim might be spun off ISRAEL Corp, parent of Zim Integrated Shipping Services, said today it plans to spin off Zim and other assets, potentially into a foreign listed entity
Sinking snarls Mississippi FIFTEEN cargo vessels were queued up awaiting arrival at Gulf Coast ports this morning after a sunken tug forced the US Coast Guard to close a Mississippi River stretch
KPMG warns on accounting NEW LEASE accounting rules could add $80Bn to the balance sheets of the world's top 50 shipping companies in 2017, KPMG estimated today
Carnival suffers Concordia suit setback CARNIVAL Corp has again failed to force lawsuits filed by Costa Concordia passengers from state to federal court jurisdiction
Baltic resumes growth NYSE-listed Baltic Trading today announced two Handysize purchases, the first acquisitions by the Peter Georgiopoulos-chaired drybulk company since 2010
Gunvor to be lent $200M RUSSIA'S government-run investment bank VEB has told Fairplay it plans to lend $200M to Gunvor so it can finish its Ust-Luga crude export terminal
SCF reported set to sell bloc on NYSE SOVCOMFLOT was reported today to have decided to sell a 25% bloc of its shares on the New York Stock Exchange
Man killed in fall from pilot ladder AUSTRALIAN authorities are today investigating what led to a man's death after he fell between two vessels
Subsea 7 wins $1.6Bn deal with PETROBRAS OSLO-listed Subsea 7 said today it has won three contracts from PETROBRAS of Brazil together worth $1.6Bn
Russia's coal exports rise RUSSIA exported 11.7M tonnes of coal in June, up 21.2% year on year
60% of China's drybulker groups bleeding NEARLY 60% of Chinese drybulker operators have recorded losses in the first five months in 2013, the Shanghai International Shipping Institute said
Keppel keeps 'outperform' CIMB maintained its "outperform" rating for Keppel after the yard clinched a $210M rig deal from Vietnam's PV Drilling Overseas
Freight recovery stymied RECOVERY in freight markets could take longer than predicted, as China's economy shows signs of slowing, RS Platou's monthly report has warned
Breaking skids with rupee BREAKING markets took a further beating last week as the rupee slid to 61 to the dollar, another unprecedented low
India Container Volume Fell 4 Percent in First Quarter Container volumes at major ports in India slipped 4 percent year-over-year in the first quarter of fiscal year 2013-14, the Indian Ports Association said in a statement. The 12 state-owned gateway hubs handled 1.87 million 20-foot-equivalent units from April through June, down from 1.95 million TEUs in the same period last...
Security Compliance Deadline Threatens Hong Kong Air Cargo Chaos Fears are growing that Asia's biggest international cargo airport could be subject to major congestion next week when new security regulations are introduced. From July 15, shippers using Hong Kong International Airport will need to full comply with the International Civil Aviation Organization's Annex 17 security regime. Cargo not already compliant...
Etihad Cargo Optimistic After Booming 2nd Quarter Etihad Cargo expects to see strong cargo volume and revenue growth during the rest of 2013 despite the global downturn afflicting the air freight sector. Speaking to the JOC by phone July 8 after reporting major gains in the second quarter, David Kerr, vice president cargo, said he expected the United...
Panama Canal Authority Considers Fourth Set of Locks The Panama Canal Authority is studying the construction of a fourth set of new locks that would accommodate super post-Panamax vessels, which would run parallel to the third set of locks currently under construction, as part of its $5.2 billion expansion project, according to Breakbulk, JOC's sister publication. The plan was...
GeoPost Invests in India Express Courier DTDC GeoPost, a European express parcels delivery provider, has invested in DTDC, a domestic express courier company in India. "India is a critical global market which is set for strong (courier-express-postal) growth, and we're delighted to invest in one of its leading players," said Iain Johnson, chief operating officer of GeoPost International,...
Medical Claims Protest Slows Work at LA-Long Beach Cargo handling in Los Angeles-Long Beach slowed on Monday as some dockworkers did not report to work in order to protest what the International Longshore and Warehouse Union say is the slow processing of medical claims. The Pacific Maritime Association, the employers' group that represents shipping lines and terminal operators at...
MOL to Implement Leadership Changes for Trans-Pacific Mitsui O.S.K. Lines has announced several organizational changes that will take effect in August: Calvin Duffaut, assistant vice president of yield management and corporate communications for MOL (America), has been promoted to vice president of yield management of MOL Liner. He will relocate to Hong Kong and will report to Jotaro...
Economy, E-Commerce to Fuel LTL Growth Less-than-truckload carriers are battling to grab bigger slices of a small pie: total available LTL revenue. At $32 billion, LTL revenue represents about 5 percent of all trucking sales. Keep in mind that UPS alone is a $54 billion transportation company and FedEx a $44 billion company. LTL carriers increasingly...
Q&A: Jack Holmes, UPS Freight Jack Holmes "It's an exciting time for a shipper." UPS Freight is the fourth-largest LTL carrier and second-largest Teamsters-organized trucking company after YRC Freight. The $2.4 billion motor carrier, formerly Overnite Transportation, has been pushing the boundaries of its business, expanding truckload and multimodal services, aided by its connection to the nation's...
'Smart' LTL Carriers Reaping Bigger Profits The news in May that $4.9 billion trucking operator YRC Worldwide was considering buying Arkansas Best, a $2.1 billion competitor, sent shockwaves running from Midwestern truck terminals to the New York Stock Exchange. The scope of the potential combination - and YRC Worldwide's chutzpah - caught the less-than-truckload industry off-guard while...
Q&A: William Logue, FedEx Freight William Logue "You have to put the right volume into the right network at the right rate." With $5.4 billion in revenue in its latest fiscal year, FedEx Freight is the largest LTL carrier. In 2010, FedEx Freight merged with FedEx National LTL, the former Watkins Motor Lines, which it acquired for...
Q&A: David Congdon, Old Dominion Freight Line David Congdon "It would help the industry if we were to see some more consolidation." Old Dominion Freight Line, the most profitable and fifth-largest LTL carrier, is considered a model for companies pursuing the "Trucking Renaissance" - sustainable profit. ODFL's net profit rose 30 percent in the first quarter, while revenue rose...
Q&A: James Welch, YRC Worldwide James Welch "You can't price your way to success." YRC Worldwide, parent of the third-largest LTL carrier, YRF Freight, reignited debate over LTL consolidation when it expressed interest in acquiring Arkansas Best, parent of ABF Freight System, the sixth-largest LTL carrier. Arkansas Best said no, but that didn't quiet questions about whether...
Canada Funds Port Alberni Shipping Feasibility Study The Canadian government is providing funding up to C$225,000 (about US$212,813) through the APGCI Transportation Infrastructure Fund for a container transshipment and short-sea shipping feasibility study at Port Alberni, British Columbia. The study will identify potential market opportunities, as well as assess the viability of a container transshipment and short-sea shipping...
US Steel Exports Reflect a 'Pattern of Weakness' U.S. steel exports in May totaled 1.163 million tons, rising 11.6 percent from 1.041 million tons in April but down 7.9 percent year-over-year, according to government reporting. "Exports of American-made steel increased in May primarily due to improved shipments to our NAFTA partners and other countries in the Western Hemisphere," said David...
Sino-Global Announces Global Logistic Service Agreement BEIJING, July 1, 2013 /PRNewswire/ -- Sino-Global Shipping America, Ltd. (Nasdaq: SINO), a leading, non-state-owned provider of shipping agency services operating primarily in China, today announced that it signed a 5-year global logistic service agreement on June 27, 2013 with TEWOO Chemical & Light Industry Zhiyuan Trade Co., Ltd and TianJin Zhi Yuan Investment Group Co., Ltd...
Florida's Everbloom adopts latest TruckStops to schedule back hauls across the US Everbloom Growers Inc., a Florida-based producer and distributor of premium-quality tropical foliage and exotic plants, has upgraded to the latest version of the TruckStops vehicle routing and scheduling optimization system from MapMechanics, and proprietor Peter Hew says TruckStops remains a key element in the company's expanding business. Everbloom Growers delivers its...
Tampa Port Authority inks sister port agreement with Argentine port TAMPA, Fla.- The Tampa Port Authority (TPA) is pleased to announce the signing of a "sister port" agreement with the Port Management Consortium of the Port of Quequén, in Buenos Aires, Argentina. The agreement creates good relations, marketing synergies and greater trade opportunities between the two port cities-connected by an...
High Sulfur Bunker Fuel Prices Rebound Bunker fuel prices - Rotterdam Full-size image Spot prices for high sulfur bunker fuel climbed 1.3 percent in the week ending July 5, rebounding from the week before when it stood at its lowest average since June 2012, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. The...
APL Logistics Supports Wal-Mart Online Sales in Mexico APL Logistics has launched an online sales channel for Wal-Mart in Mexico. The new solution, which comprises a warehouse management system, integrates with the retailer's new online shopping site and enables same-day order fulfillment and next-day delivery. Through the partnership, APL Logistics provides all order management, planning and fulfillment for Wal-Mart's general..
Silver lining? The tanker market appears to be keeping a close eye on the deadly freight train explosion that rocked the town of Lac-Megantic, Quebec near the US border over the weekend.
NOL faces grim forecast A leading Malaysian investment bank downgraded shares of Neptune Orient Lines (NOL) Monday amid concerns that the Singaporean containership operator could face a third consecutive year of losses .
VLs at 2013 highs VLCC rates out of the Arabian Gulf for the Far East are threatening to break $30,000 daily for the first time this year.
Hijacked Albedo sinks A Malaysian boxship held by Somali pirates for close to three years has sunk in rough seas.
NNA stretches one Navios Maritime Acquisition (NNA) has fixed a chemical tanker for an extra year at a higher rate.
Orders keep climbing The recovery in ship orders continued in the second quarter, according to Clarksons data.
Clipper teams with Baltic Clipper has teamed with Baltic Trading to form a hew handysize bulker pool.
Latvian drops crew unit Latvian Shipping Company (LSC) has narrowed its focus on core tanker operations with the disposal of its third-party crew training business.
Bergen finally delivers Bergen Group has finally handed Fjord Line the first of a pair of delayed cruise ferry newbuildings.
Baltic back in the ring Peter Georgiopoulos-backed Baltic Trading has made good on its promise for fleet expansion by snapping up two second hand bulkers today.
Marina is a mess A KG Jebsen cement carrier has caused carnage in a Norwegian marina after a bow thruster problem.
P&O plots US run UK operator P&O Ferries is among three owners eyeing a new ferry run between Canada and the US.
Vale Beijing claim fails STX Pan Ocean has lost a claim for damages against sister yard STX Offshore & Shipbuilding in a row over the Vale Beijing leak.
MPA strips another Singapore's Maritime and Port Authority (MPA) continues to get tough on bunker suppliers who fall foul of the country's rules governing third party use of licensing agreements.
DIS cashes another d'Amico International Shipping is tipped to have sold off another of its older tankers as it looks to make way for newbuildings.
Victims' dismay at pay-out Fourteen years after the Asia South Korea ferry sank off the Philippines, a court has awarded a group of survivors and victims' families a total of PHP 1.38m ($31,500).
Hoegh scraps again Hoegh Autoliners has sent its second ageing vessel to green recyclers in China this year.
HHI plans price hike Hyundai Heavy Industries is looking to push up prices amid expectations it will pass its full-year order target.
CSIC wins rigs China's CSIC shipyard group has won an order for drilling platforms worth $872m.
Zim set for London listing Zim could be set for the London Stock Exchange as part of a £2bn ($2.98bn) IPO, it emerged at the weekend.
Torm turns to Mads Torm has raided AP Moller-Maersk to fill the hole created when CFO Roland Andersen quit in April.
NYK leads the way Japanese shipowner NYK is spearheading a research group aimed at cutting vessel operation costs.
Subsea 7 signs $1.6bn deal Oslo-listed Subsea 7 has won a $1.6bn deal to build and operate three pipe-lay supports ships (PLSVs) for Petrobras.
Hope survivors found Three crew from a capsized cargoship have been airlifted from the sea off Thailand.
Teekay pays out Teekay Corp has announced that it will pay a cash dividend on its common stock on 31 July.
Full speed ahead Four Chinese shipyards have been shortlisted for the contract to refurbish the iconic cruiseship Queen Elizabeth 2 (built 1969).
MOL Comfort on fire The Indian Coast Guard has arrived on the scene to help fight the raging fire that broke out on the forward half of the fractured boxship 8,110-teu MOL Comfort (built 2008) this past weekend as salvagers were trying to tow it to the Omani port of Sohar.
Investigation into SFO crash continues Asiana flight OZ214, a non-stop flight from Incheon International Airport, on Saturday slammed into the runway at the Northern California airport, the aircraft skidding down the tarmac, injuring 180 people and resulting in two fatalities.
Fore portion of MOL Comfort ablaze MOL reported a fire had broken out in the fore section of the containership as it was being towed. If this section of the vessel is also lost it could further complicate efforts to determine what caused it to break in half.
FMCSA focuses on training military vets The U.S. Federal Motor Carrier Safety Administration awarded nearly $1 million in grants to community and junior colleges last week to train military veterans for jobs in the transportation industry.
Drewry: Peak season unlikely to be substantial While there are some indications that the United States is climbing out of recession faster than Europe, the London-based consulting firm warned vessel capacity must be withdrawn before October to prevent rates falling further.
MOL Line moves functions to Hong Kong
APL Logistics sets up Mexico e-commerce channel for Walmart
$421 million DOT loan supports SoCal highway improvement
TNT Express sells Apriso for $205 million
U.S. exports 'dropped slightly' in May
EU to streamline customs at ports
CN to haul frac sand to Alberta transload facility
Panalpina, Arcese expand cooperation
CORRECTION: Trade, investment top Obama agenda during Africa trip
UN report sounds alarm over European air pollution Major review of studies finds air pollution health effects have been underestimated and urges action.
Prices firm in Fujairah Suez operations said to be running as normal.
Weak demand in Rotterdam Gibraltar also displayed lack of buyer interest.
Aegean keeps its financing options open SEC preliminary prospectus filing is routine, no concerns about breached loan covenants.
Ust-Luga to carry more fuel oil Russian terminal operator agrees $200 million loan to upgrade capacity.
Second Singapore barge for OW Complements recently launched physical operation.
Indian supplier 'making faster deliveries' Bharat Petroleum Corporation Limited has upgraded delivery system.
Slow steaming the new normal for Maersk Line Reduced speeds major factor in estimated $1.6 billion cut in fuel cost, but savings per ship does not translate to 'real life'network.
Asian bunker prices start week strong 'Slack demand' seen in Hong Kong on Monday.
MPA removes fourth bunker supplier licence Another supplier found to be in breach of licensing agreement.
COSCON updates bunker charges New rates to take effect from August 1.
Hyundai to raise prices for fuel efficient newbuilds 'Big focus right now is on fuel efficiency,' notes Hyundai Heavy Industries spokesman.
Port commissioners to review safety at UK bunker port Study to consider compulsory pilotage.
Mobil boosts HFO supply in New Zealand Upgraded fuel oil storage facility now in service to meet 'rapidly growing' bunker demand.
Oman Oil in talks to establish Duqm bunkering services Firm hopes to conclude negotiations in 2014.
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