Fincantieri scores luxury order REGENT Seven Seas Cruises confirmed today that it has placed a newbuild order with Italy's Fincantieri priced at $450M
Magna buys FreeSeas debt NASDAQ-listed FreeSeas confirmed today that the New York group Magna will buy bank debt that will ultimately be converted into equity
CPP sells OSG claims EVANGELOS Marinakis-led Capital Product Partners today confirmed that it has sold its OSG bankruptcy claims to Deutsche Bank for an undisclosed sum
Greeks hold 337 in migrant smuggling cases GREEK officials are holding 337 people in connection with migrant smuggling attempts over the past week
Carriers add W Africa loop WEST Africa's burgeoning import trade is continuing to attract more liner ship capacity, with today's launch of a new service by Asian carriers
Malta halts more migrants AUTHORITIES in Malta yesterday intercepted a group of 68 migrants 70m south of the island after the engine of their dinghy stopped
Polynesia Line taken over CHINA Navigation, the deepsea shipping arm of Swire Marine, has fully taken over specialist carrier Polynesia Line
12 seafarers rescued off Ulsan after collision SOUTH Korean coastguards were reported today to have rescued all 12 Chinese seafarers from a lifeboat off South Korea
Arrested ship leaves Singapore PANAMA-flagged general cargo ship Genius Star II has been allowed to leave Singapore yesterday after its Taiwanese owner settled about S$9,000 ($7,000) worth of claims
Chiwan bulk throughput rises by 38.1% y/y SHENZHEN-listed Chiwan Wharf said today bulk cargo throughput totalled 997,000 tonnes at Chiwan terminal in June, a 38.1% year on year rise
VLGC chartering slows RATES to haul LPG on very large gas carriers are continuing to slide as sentiment weakens in both east and west of Suez
US box import rise seen BOX IMPORTS at US container ports should ramp up during the autumn holiday shipping season after a stagnant summer, a major importer group has predicted
RSHI unit wins in suit HONG KONG-listed RSHI's Jiangsu subsidiary has won the second round in a $2.6M compensation suit filed by a Chinese fund management company
Bumi Armada kept on 'hold' MALAYSIAN offshore oilfield services provider Bumi Armada's stock rating has been maintained at 'hold', despite recent contract win of about $179M from Lukoil
Most of China's commodity import prices fell CHINA's imported coal prices fell 16.3% year on year to $91.4 per tonne on average in the first half, according to customs statistics released today
Railway Questions Engineer's Report in Deadly Derailment Investigators trying to determine what caused the crude oil train derailment that killed at least 15 people in Lac-Mégantic, Quebec, are now focusing on the train's engineer, according to news reports. The Montreal, Maine & Atlantic Railway suspended the engineer, Tom Harding of Farnham, Quebec, and cast doubt on whether he...
WCO, IMO, ICAO to Collaborate on Trade, Security Raymond Benjamin, secretary general of the International Civil Aviation Organization; Koji Sekimizu, secretary general of the International Maritime Organization; and Kunio Mikuriya, secretary general of the World Customs Organization at the IMO headquarters in London. Source: IMOKunio Mikuriya, secretary general of the World Customs Organization; Raymond Benjamin, secretary general of...
India Opens Market to Canadian Eastern Spruce India's market has opened to Canadian eastern-spruce products, according to Canada's Ed Fast, minister of international trade and minister for the Asia-Pacific Gateway; Joe Oliver, minister of natural resources; and Gerry Ritz, minister of agriculture and agri-food. "This agreement will help eastern Canadian exporters tap into the large and growing Indian...
DB Schenker Solidifies Presence in Laos DB Schenker has established its own legal entity in Laos and will now operate under the name "Schenker (Lao) Sole Co." across the region. Although present in the Southeast Asian country since 2001 as a representative office of Schenker (Thai), the process of establishing a legal entity manifests DB Schenker's "strong...
Strategies for Optimizing Cost and Service through Enhanced Visibility Increasing supply chain visibility is a critical strategy for reducing costs and improving operational performance. This is reflected in a recent AberdeenGroup study, which found that 63% of respondents place a high priority on improving visibility into their increasingly complex global supply chains. AberdeenGroup's newest report, Supply Chain Visibility: A Critical...
Georgia Ports, Cordele Intermodal Sign Inland Port Accord Georgia Governor Nathan Deal (center) along with Georgia Ports Authority Executive Director Curtis Foltz (left) and Cordele Intermodal Services President Jonathan Lafevers (right) sign a new inland port agreement during an event July 10 at the Cordele Intermodal Services in Cordele, Ga. Source: GPA Photo/Stephen Morton. Georgia's Gov. Nathan Deal, the...
Michigan DOT Releases Draft Freight Plan for Public Input The Michigan Department of Transportation's draft Michigan Freight Plan, a supplement to the 2035 MI Transportation Plan, is available for public review through Aug. 7, via the State Long Range Plan Web site. The draft Michigan Freight Plan provides an overview of the state's freight transportation system, including existing assets, system...
American Airlines' Cargo Rose 8 Percent in June The parent of American Airlines, AMR Corp., reported June cargo figures for its principal subsidiary, showing an increase to 160,427 million ton miles, up 8.0 percent from 148,601 million ton miles reported in June 2012. For the six months to June 30, ton miles dropped to 879,279, a 2.4 percent decrease...
Fewer Container Ships Transit Panama Canal in June Container Ships Passing through the Panama Canal Full-size image The number of container ships passing through the Panama Canal fell 9.5 percent in June compared with a year earlier, the third consecutive month of accelerating declines. According to data from the Panama Canal, 249 container ships passed through the canal last month, 26...
North American Retailers Unveil Bangladesh Safety Initiative An alliance of 17 North American retailers on Wednesday unveiled the Bangladesh Worker Safety Initiative, a binding five-year agreement that aims to improve factory safety conditions in Bangladesh. The deal was developed over the past five weeks under the guidance of former Sens. George J. Mitchell and Olympia Snowe, acting as independent...
MMA Chairman: Deadly Rail Crash to Spur Tighter Regs This story was updated at 3:35 pm EDT July 10. The chairman of the embattled Montreal, Maine & Atlantic Railway expects tougher safety regulations in the wake of the deadly Lac-Mégantic crash, and he told CBC/Radio-Canada the MMA is already planning to change its operations. "When our train service restarts, they are...
Trans-Pacific Rates Again Display Lack of Endurance When trans-Pacific eastbound spot rates plunged nearly 9 percent in the week ending July 10, it was the latest example that container shipping pricing this year has lost its staying power. The decline, after all, came hard on the heels of carriers' successful July 1 general rate increase, continuing a...
IAG Cargo Volume Dropped 8.7 Percent in June International Airlines Group reported cargo traffic of 463 million metric-ton-kilometers in June, down 8.7 percent from 507 million metric-ton-kilometers of cargo in June 2012. From January to June, the merged British Airways-Iberia carrier handled 2.756 billion metric-ton-kilometers of cargo, falling 8.4 percent from 3.009 billion metric-ton-kilometers in the first six months...
Norbert Dentressangle, Danone Form JV for Fresh Products in Russia Norbert Dentressangle has entered into a 50-50 joint venture with the Danone Group to offer temperature-controlled logistics services for fresh products across Russia. The new company will be responsible for the distribution of Danone's dairy products within Russia. With an estimated revenue of about €60 million (about US$77.0 million), the company...
Supply Chain Solutions Acquires England Logistics' Freight Forwarding Unit Supply Chain Solutions has acquired the freight forwarding business unit of England Logistics. The acquisition gives SCS, a Michigan-based transportation and logistics management company, offices in Los Angeles and Shanghai, Qingdao and Ningbo, China. SCS currently operates offices in Michigan, Indiana, Illinois and Virginia. "This will give SCS a platform to grow...
EU Brings First WTO Case Against Russia for Car Fee The European Union has launched its first formal trade dispute with Russia at the World Trade Organization. The EU alleges that Russia, which entered the trading group in August 2012, has been illegally protecting its carmakers with a recycling fee levied on imported cars. The European Commission said the fee has...
Drewry's Trans-Pacific Rate Gives Up Half of Post-GRI Gain Drewry Container Rate Benchmark, July 10, 2013 Full-size image Drewry's Hong Kong-Los Angeles Container Rate Benchmark eroded in the week of July 10, giving up half of the $400 gain it achieved from the July 1 general rate increase, according to the latest release of the Drewry Hong Kong-Los Angeles Container Rate...
UK Plans IPO for Royal Mail The UK today confirmed it will sell a majority stake in Royal Mail, the state postal operator, in a flotation on the London Stock Exchange in the current financial year. The initial public offering is expected to value the company, which dates back to 1516, at between £2.5 billion to '3...
Curtain call General Maritime Corp (Genmar) has completed the withdrawal of its VLCCs from a pool controlled by US compatriot Heidmar.
FreeSeas inks debt deal Shares of Greek bulker operator FreeSeas soared in early trading Wednesday in the wake of a deal that represents a significant victory in its fight to stay afloat.
Fincantieri's luxury order Fincantieri has clinched a $450m order for a cruiseship that its owner claims will be the most luxurious ever built.
Maribo on the rocks A Norwegian cargoship has become lodged on rocks in Vartdal Fjord.
Navios eyes BW VLCC The tanker market is rife with rumours that BW Maritime is in the process of selling one of its VLCCs to a member of the Navios clan.
Strike two for Navios Navios Maritime Acquisition (NNA) has penned a second period deal in the space of a week and welcomed two new additions to its fleet.
HKAM linked to megaships Hong Kong Asset Management (HKAM) has been tipped as the likely owner of three huge boxships announced by Daewoo in Korea.
Trio add African ships Evergreen, Hanjin Shipping and UASC are teaming up to launch a second containership service into West Africa.
Capital sells OSG claim Capital Product Partners has offloaded its charter default claims against OSG to Deutsche Bank.
CMES dives to loss China Merchants Energy Shipping (CMES) slumped to a deep loss in the first half of the year.
Ukrferry brings in ro-pax Ukraine's Ukrferry and Danish owner DFDS have teamed up for a Black Sea ro-pax run.
Hope for Rongsheng China Rongsheng Heavy Industries is in talks with Rugao and Nantong cities as it looks to secure support amid growing concern about its balance sheet.
Volstad picks Turkey Norway's Volstad Shipping has turned to Tersan Shipyard in Turkey for a subsea newbuilding.
Penn cools Baltex talk Jeremy Penn has cooled growing chatter that the Baltic Exchange is in talks to sell its loss-making Baltex platform.
Sisters attack Phoenix China's struggling CSC Phoenix is facing more legal trouble - this time from sister companies.
Bergen loses to Gdansk Bergen Group's second quarter results are about to take a hit after it lost an arbitration case related to a delayed hull delivery from Poland.
DFDS offer stands Denmark's DFDS could still buy Baltic ferry group Scandlines, despite having a bid rejected.
Ceyhan back online Iraqi crude loadings will resume at the key Turkish Med port of Ceyhan two weeks after a pipeline leak shut down exports.
STX PO drops anchors Troubles at STX Pan Ocean have been blamed for aiding a sudden rise in the number of idle containerships.
Chouest doubles up US shipowner Edison Chouest Offshore (ECO) has revealed a big expansion of its orderbook as it seeks to meet growing demand.
Four for HMM Korea's Hyundai Merchant Marine (HMM) has finalised its capesize order at Hanjin Heavy.
Dole orders in Korea Hyundai Mipo Dockyard (HMD) has secured its first-ever reefer containership newbuildings. The Ulsan-based shipbuilder says it has received orders for three 770-teu vessels from Dole Food.
New funding for Single European Sky program The European Commission is investing 600 million euros ($730 million) in research funding to develop new technology, heading off massive congestion in the region's airspace expected to balloon out of control in the next 20 years.
Hyundai Mipo to build 3 ships for Dole The vessels will each have a capacity of 770 FEUs and be used in the company's U.S. West Coast operations. Self-geared and equipped with gantry cranes, they will be delivered in late 2015 and early 2016.
Port of Virginia hits new TEU highs
SCS buys England Logistics' forwarding unit
CargoSphere releases rate upload application SUDS automates managing and processing of carrier contracts and numerous amendments. When a contract is uploaded, the system extracts and organizes rates from large volumes of rate agreement contract data.
USDA aids U.S. territory farmers with transport costs
OHL signs large lease in Miami
Global transportation groups to strengthen ties
Weather hampers MOL Comfort firefighters
Report: Daewoo building 3 large boxships
Marginal box growth in mid-2013 as retailers wait for upturn Import volume at the nation's major container ports is expected to increase 1.1 percent in July over the same month last year, but a slow summer should be followed by significant increases as retailers head into the holiday season.
Crowley acquires petroleum distribution business
Ex-Im Bank supports sale of GE locomotives to South Africa
Reports link WFS share price slide to Quebec derailment But WFS says the reasons for the falls are unclear.
New bunker company launched in Turkey Aims to offer bunker and lubricant trading, brokering, after and pre-sale support services.
Fujairah market sees prices soften One player said he was baffled by the falling market at a time when crude oil prices were firming.
Prices unsettled across Europe North European prices firming, Mediterranean markets soft.
Bunker licence breaches discovered during routine checks Singapore's MPA revoked licenses to 'maintain the integrity' of the port's bunkering industry.
More Triple-E ships on order Reports say they are likely to be chartered to MSC.
Insatech and OW develop 'ECA' blending unit Prototypes of the units are to be installed 'in the coming months'.
Many operators 'unaware' of EPA provisions, survey finds An ExxonMobil industry survey found widespread unawareness among owners and operators.
Indian player beefs up Mumbai operation Increased sales prompt barge move.
Anti-sloshing blanket to enhance LNG ops, claims maker LNG carriers able to plan more fuel efficient operations with the Basotect blanket, says BASF.
Asian bunker prices trade flat Low to average demand seen in Singapore.
Design of UK naval fuel tankers finalised Daewoo Shipbuilding and Marine Engineering to start building vessels in 2014.
Rena oil spill sheds light on fuel oil pollution, says academic Studies produced breakthrough in understanding the breakdown processes of oil and other chemicals.
Fuel monitoring design platform receives patent Platform also helps identify design offering the best speed, mileage, and return on investment.
Wisdom Marine H1 earnings slide But business should pick up with the addition of five, energy-saving ships.
Report forecasts shipping growth at Peru But notes rising bunker prices at Callao in January as key industry trend.
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