Excel shares suspended in New York UPDATE: Delisting move initiated as owner unveils heavily impaired $1.5bn loss
We will grow at our own pace, says Thoresen Shipping's Claxton Thai bulk boss pins modest hopes on supramaxes and handysizes
CMA CGM eyes port growth through strategic China Merchants tie-up EXCLUSIVE INTERVIEW: Sale of Terminal Link share is a springboard for joint port projects around the world
Excel lines up support from banks Pre-Chapter 11 deal in principle offers relief as Panayotides agrees to chip in $50m
Safety agenda heats up amid calls for industry to rewrite Solas IMO Ship safety symposium to assess need for Solas II ahead of MSC, which focuses on passengership safety and crew competence
Iridium challenges Inmarsat monopoly US satellite firm plans rival maritime distress communication system
Sekimizu's stall The IMO secretary-general sets an agenda that includes new focus on safety
Croatian shipowner leads Baltic Sea aframax charge Tanker charter hits a six-week high amid rush to secure end-June dates
Coscon launches customer charter in China Five-point service enhancement plan to be followed by schemes for other Asian countries, the US and Europe
Weak peak expected for US box ports Retailers hold restocking for Christmas until later in the year, says Global Port Tracker
Creditors support STX shipyard until the end of July Fresh injection of emergency funds discussed as lenders carry out due diligence
BP Shipping sells China LNG joint venture stake to CNOOC Chinese oil major extends its shipping presence
Prospects improve for Asia-Europe rate rises, says Alphaliner Analyst sees good omens in start of summer peak season and withdrawn capacity
Rush-in roulette Low newbuilding prices trigger a risky new round of speculative orders
First Ship Lease lands second loan reprieve Singapore shipping trust extends covenants to year-end
CMA CGM, China Merchants wind up deal CMA CGM today completed the sale of a 49% stake in subsidiary Terminal Link to China Merchants Holdings (International)
Box rise glass is half full FAR EAST/Europe box carriers are not likely to achieve more than half of the rate increases they mean to seek as of 1 July, liner trades analyst Alphaliner warned today
Herkules to take over Schat-Harding and Noreq PRIVATE equity fund Herkules is to acquire fellow Norwegian companies Umoe Schat-Harding and Noreq to create a market leader in marine lifesaving equipment
Grand China sheds claims on Titan yard SHIPPING group Grand China Logistics is disposing of its entire 95% equity interest in Titan Quanzhou Shipyard
Global Marketing expands to Singapore DUBAI-based cash buyer Global Marketing Systems told Fairplay today it will set up an office in Singapore this month, as it taps on the city-state's growing maritime community
Thorco, Clipper Projects combining DENMARK'S Clipper Projects and Thorco Shipping said today they have agreed to combine
Frontline sale of spinoff shares warned FRONTLINE might be forced to sell shares in spinoff Frontline 2012 to raise cash, shipping analysts at Pareto in Oslo warned today
Seoul seeks to unload DSME stakes SOUTH Korea's government is making another attempt to sell its stake in shipbuilder DSME
FSL Trust gets loan covenants relaxed FIRST Ship Lease Trust Management said today it has secured a temporary relaxation of two of its loan covenants from its lenders
VLCCs missing out SUEZMAX and Aframax tankers are enjoying a rise tonne-mile demand in 1H13, but demand keeps falling for VLCCs, a shipping analyst has calculated
US box imports slow ANEMIC US box import volumes will mirror the slow US economic recovery heading into the fall peak season, an import trade group warned
Russian grain exports drop by 75% RUSSIA'S grain exports dropped by 75% year on year in the five months to 31 May, a trade group said
Malaysia's Yinson seeks Norway's FOP MALAYSIAN OSV provider Yinson Holdings Berhad said it is bidding 996M kroner ($173M) for Norwegian shipping group Fred Olsen Production
PB buys 10 bulkers PACIFIC Basin will exercise purchase options on 10 Handysize bulkers that had been chartered in on bareboat basis
VLGC rates hit 2013 high RATES to haul LPG on very large gas carriers have hit a new 2013 high, amid bullish spot demand
Add OOCL to List of Those Planning July 1 GRIs OOCL will boost rates in its westbound trade from the Far East, including Japan, to the Mediterranean and Black Sea, starting July 1. The increase will be $650 per 20-foot-equivalent unit, the container line said. Mediterranean Shipping Co. and MOL have also planned similar Asia-to-Europe rate hikes for July 1, despite recent...
Kerry Logistics Opens Three More Facilities in China Kerry Logistics' new Chongqing center.Kerry Logistics has opened three new logistics centers in Chongqing, Wuxi and Xiamen, China, continuing its expansion in the nation. The three facilities total 140,000 square meters combined. The 86,800-square-meter Chongqing center serves western China, offering logistics services for multiple industry sectors, including automotive parts and accessories,...
East- and Westbound Intermodal Rates Inch Up U.S. east-west spot rates, week of June 10, 2013 Full-size image U.S. intermodal rates for shipments east-to-west and west-to-east increased slightly this week, although a larger drop in the south-north index kept the overall U.S. index - now at $1,978,61 - down 14 cents below where it stood last week, according to data on...
China Railway Corp. Launches Express Cargo Service The China Railway Corp., a spinoff of China's former Ministry of Railways, has launched a new express cargo service to allow it to better compete in the logistics market, Global Times reports. The company will start delivery of freight door-to-door via its express service on June 15, allowing clients to...
Logistics Providers DJ Powers, Maritime International Merge D.J. Powers Co., a Savannah, Ga.-based logistics provider, has merged with Maritime International, a local logistics firm also based in Savannah. With the addition of Maritime International and the recent opening of its Norfolk, Va., office, D.J. Powers has further established its footprint in the Southeast, with plans to continue expansion...
KiwiRail Plans to Name New Chief Executive in 2014 John Spencer, chairman of KiwiRail, along with the KiwiRail's board, have announced that they will not renew KiwiRail Chief Executive Jim Quinn's five-year contract when it expires in February 2014. "With the KiwiRail turnaround plan well initiated, the KiwiRail board feel [sic] it is time for a new CE to implement...
CSAV Expands Intra-Asia Galex Sling 1 Service CSAV's new Galex 1 rotation.Compañía Sud Americana de Vapores will introduce regular calls at Port Klang, Malaysia; Khalifa in Abu Dhabi, United Arab Emirates; and Qingdao, China, to its Galex Sling 1 service. The changes will take effect with the sailing of the Hanjin Budapest, voyage 40 westbound, starting its rotation...
US East Coast Ports Suffer ILA Hangover U.S. East Coast ports experienced widely varying impacts from the months-long threat of labor strife that began last year with the breakdown of talks for a new International Longshoremen's Association contract. Because the ILA contract was not settled until early this year, cargo diversions continued into the first quarter of 2013...
Report: Global Air Freight Traffic Inched Up in April Total air freight traffic worldwide in April increased 1 percent year-over-year, although growth continued to be mixed across airports because about half of the world's Top 20 air freight hubs registered declines for the month, according to Airports Council International. Monthly international freight rose 1.1 percent compared to April 2012, while...
AMR Names Board, Leadership Team of Merged Company AMR Corp., the parent company of American Airlines and US Airways Group, has named the 12 members of the board of directors of the combined company, American Airlines Group, as well as the senior leadership team, effective after the closing the companies' expected merger. Thomas Horton, chairman, president and CEO of...
Panalpina's Ocean Freight division introduces new order management system Panalpina is introducing MyPanalpina+, an order management system based on the latest version of the customer-facing application, LOG-NET. Customers will benefit from its enhanced order processing capabilities, including better freight management services and improved visibility of their supply chains. The deployment of the new system demonstrates Panalpina's continuing commitment to...
Transplace Updates, Enhances TMS Freight Allocation Module 2.0 June 11, 2013 (Dallas, TX) - Transplace, a leading provider of transportation management services and logistics technology, today announced the release of Freight Allocation ModuleTM (FAM) 2.0, a web-based application that optimizes transportation by allowing shippers to auction freight with approved carrier partners. With its enhanced functionality, FAM 2.0 offers authorized carrier...
PeopleNet Certifies and Introduces Motorola Commercial-Grade Handheld that Supports PeopleNet's Fleet Mobility Applications MINNEAPOLIS, June 11, 2013 - PeopleNet®, the leading provider of fleet mobility solutions that reduce cost per mile, improve safety/compliance and enable profitable growth, today announced support for Motorola's MC75A Mobile Computer (Motorola MC75A - Motorola Solutions USA ) to be compatible with PeopleNet's fleet mobility applications. "This announcement kicks off...
HELP Inc. Welcomes National Freight Advisory Committee Applauds Inclusion of Senior HELP Advisors Phoenix (JUNE 11, 2013) - HELP Inc. applauds the establishment of the U.S. Department of Transportation's (DOT) National Freight Advisory Committee (NFAC). The committee's diverse membership of 47 includes Major Mark Savage, HELP board member from Colorado and Dr. C. M. Walton, HELP's senior policy advisor from the University of...
Updated: Maher Extends Free Time, Demurrage Amid Backlog Maher Terminals in the Port of New York and New Jersey will extend container free time and freeze demurrage charges through Wednesday as it clears a backlog caused by computer glitches during the changeover to a new terminal operating system, CEO Gary Cross said. The charges have been suspended since Friday,...
MSC Offers Direct Houston-Brazil Service Mediterranean Shipping Co. is providing a new weekly direct container service between Houston and Brazil. The new service, which was launched in April, calls at Houston; Cristobal, Panama; Manaus, Navegantes, Santos, Pecem and Vila do Conde, Brazil; Port of Spain, Trinidad and Tobago; Cristobal; and Houston. Its rotation is seven weeks...
Wanted: Bidders for Jawaharlal Nehru Port Project The Port of Jawaharlal Nehru (Nhava Sheva), India's top container handler, has issued a new request for qualification from interested bidders for the development of its long-awaited fourth container terminal. The move follows the cancellation of Nehru's initial tender in September 2012 after top bidder PSA International failed to sign a...
US Beef Producers Warn of Labeling Rule Repercussions Following the Canadian government's disapproval of the U.S. Department of Agriculture's Mandatory Country of Origin Labeling program and subsequent release of a list of products for possible retaliatory tariffs, the National Cattlemen's Beef Association has slammed the labeling requirement. "MCOOL is not market- or consumer-driven, and it does not fit within...
US Auto Parts Imports Grow But at Slower Pace US Auto Part Imports Full-size image Containers of auto parts imported through U.S. ports in the first quarter of 2013 were up year-over-year for a 14thstraight quarter. Although the rate inched up from 8.1 percent in fourth quarter 2012 to 8.3 percent in first quarter 2013, the rate of growth has formed an...
Hyundai Seeks to Expand Network in Asia Hyundai Merchant Marine is examining how best to restructure its network to tap into growing intra-Asia container volumes. "Expansion of output in intra-Asia countries is expected to become broad and accelerate steadily," the Korea-based line said in an e-mail exchange with the JOC. "China and India are key props to intra-Asia...
Who's next? The looming bankruptcy of Greek bulker owner Excel Maritime Carriers has reignited concerns about the future of some of its US-listed compatriots.
Excel gets the boot The New York Stock Exchange (NYSE) is seeking to delist the shares of restructuring Greek owner Excel Maritime.
Stohle takes stock Sveinung Stohle has put $40,000 of his own money into shares in Hoegh LNG.
TEN hits double Tsakos Energy Navigation has tied up period contracts for two more of its product tankers.
Excel's path to filing Read TradeWinds' guide to how Greece's Excel Maritime was hit by the shipping slump.
ABN Amro takes cape Dutch bank ABN Amro has assumed ownership of an Excel Maritime capesize to settle an outstanding loan.
Ismini steps in Excel ready to sell two supramaxes to Villy Panayotides' daughter to pay off Credit Suisse loan.
Excel reveals $1.5bn loss Greek bulker owner Excel Maritime has unveiled a massive $1.51bn net loss as it published its long-overdue 2012 report.
Excel Maritime to file Troubled Greek bulker owner Excel Maritime has confirmed it is planning a Chapter XI restructuring in the US.
Great Dane born Danish owners Thorco Shipping and Clipper Projects have merged to create the world's second largest multipurpose owner and operator.
Cauvery heads for scrap Pratibha Cauvery, the Indian tanker involved in a fatal grounding last year, is destined for demolition in Bangladesh.
Hat-trick for Olympic Greece's Onassis Group has taken its third VLCC from AET this year, brokers believe.
Bulker smash in Brazil Two bulkers operated by Hanjin Shipping and Norsul Navegacao have been damaged in a collision at the port of Santos in Brazil.
Tanker profit pinned down Profitability should return to the tanker market in 2015 as slowing fleet growth and improving demand haul up fleet utilization, RS Platou Markets says.
ULTR nets notes cash Ultrapetrol has completed a $200m notes issue with the aim of repaying debt.
Jahre inks LNG ship Norway's Jahre Marine is building an LNG bunker tanker at AVIC Dingheng Shipyard in China.
HMM out of Iran Korea's Hyundai Merchant Marine (HMM) has dropped a call at Bandar Abbas in Iran.
Rainbow wins PSV Nantong Rainbow of China has won an order for a new platform supply ship (PSV) from a domestic owner.
PE buys lifesaving firms Herkules Private Equity is to take over life-saving equipment manufacturers Umoe Schat-Harding and Noreq.
Ezion stake raised Templeton International has increased its holdings in Ezion, the Singapore-listed liftboat company.
Seajacks orders newbuild Samsung Heavy Industries to build world's largest wind farm installation vessel.
Environmental groups sue over LA rail terminal "This project can be built away from where people live and children go to school, but the City of Los Angeles wants to put it in a low-income minority neighborhood," said David Pettit, attorney with the Natural Resources Defense Council.
Boeing sees need for 35,000 planes by 2032 The largest amount of demand will come in the single-aisle aircraft category, with 24,670 planes at a cost of $2.29 trillion. The manufacturer predicts the least amount of orders will be for large, wide-body planes.
Temporary I-5 bridge to open next week Construction crews, working around the clock, put the finishing touches Monday on the first of two temporary bridge spans over the Skagit River in Washington and have started work on the second one.
CMA CGM completes partial sale of Terminal Link China Merchants Holdings (International) Co. Ltd. today completed its purchase of a 49-percent equity stake in the French liner carrier's terminals business, which includes 15 facilities in eight countries, for 400 million euros.
Washington Notebook: Senate committee approves Commerce, DOT appointees
G20 lagging behind in trade, study finds
Maersk's 'Triple E' sea trials in pictures
Stockton barge delivers first containers to Oakland
EU makes progress on rail system
Great Lakes coal loads fall 11.3% in May
Panalpina rolls out LOG-NET order management system
Intercargo calls for publicly accessible casualty reports Data from the GISIS often has either no investigation report attached or is not available for download.
Fujairah sees weak demand Little price movement in Middle East hub.
Outlook in Europe mainly soft Prices mixed in Mediterranean ports.
Shipping's CO2 output reduced by 20% 'before EEDI' IMO symposium hears call for balance between regulations and shipping's survival in economic climate that is 'worst in living memory'.
Drybulk shipper files for Chaper 11 'Excel Maritime has been hit by volatility and overall declines in charter rates.'
Vopak eyes expansion Growth in LNG market is company's main focus.
State oil company 'struggling' to buy fuel oil cargoes Egypt's currency crisis raises credit concerns.
Company says STX Pan Ocean will hurt results J Lauritzen has two ships chartered to beleagured operator.
Focus on LNG bunkering at Europort Trade fair will have separate strand called Pioneering in LNG.
Asian bunker prices remain stable Players in South Korea expecting demand to pick up later in the week.
Algeciras is 'key bunkering location' says BP Marine Operations in Spanish port are 'latest step in BP Marine's expansion of its global footprint.'
US puts lower flash point limit proposal to IMO Wants SOLAS limit aligned with highway diesel fuels to give ship operators access to broader supply of low sulphur fuels.
'Chicken and egg dilemma' of LNG bunkers gets US airing LNG bunker fuels conference to take place in Houston.
Chinese increase research in shipping and offshore Development aimed towards marine diesel engine, dual-fuel engine and LNG machinery.
Tribunal finds owner responsible for leaky bunker tank 'Owners must understand the nature of their obligations in respect of maintenance and seaworthiness,' says lawyer.
Irish firm receives fuel efficient product tanker Ardmore Seaventure is equipped with mewis duct and hull performance coating, among other technologies.
New fuel-efficient engine set to enter marine market Wartsila X40 engine passes type approval test 'with flying colours', says spokesman.
Bunker tankers delivered to Singapore operator Sea Hub Tankers boosts fleet with new additions.
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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