Rest of MOL Comfort sinks MOL COMFORT's bow section sank early today, Mitsui OSK Lines told Fairplay
Navios Acquisition takes four ANGELIKI Frangou's Navios Acquisition today announced the purchase of four newbuilding tankers for an aggregate price of $130.2M
Greens allege US ballast rules stop too short US BALLAST water regulations issued earlier this year do not go far enough in reducing the risk of invasive species, an environmental group is alleging
Coal, fertilisers drive Russian port gains CARGOES of coal and fertilisers were the drivers of Russian port growth in 1H13, the Association of Commercial Seaports (ASOP) said
VARD bottom line slips PROBLEMS continuing at its Brazilian yards have hurt Singapore-listed Norwegian offshore vessel builder VARD
LNG export approvals urged EXPEDITED permits for a backlog of US LNG export applications will boost US political and economic interests overseas, a bipartisan group of senators predicted
Korea yard orders rise 60% SOUTH Korean shipyards overcame difficult market conditions in 1H13, with new orders up 60.4% year on year
Seadrill gains Venezuela contract for jack-up SEADRILL said today it has secured a contract off Venezuela for its LT-Super 116E jack-up rig West Freedom
DNB unveils more impairment losses from shipping NORWAY'S financial services group DNB said today impairment losses from its shipping, offshore and logistics units rose sharply in 1H13
COSCOL's losses triple SHANGHAI-listed COSCOL said today its losses more than tripled to 78M yuan ($13M) in the first half of 2013 from a year ago
June's Taiwan exports surge TAIWAN'S exports of mineral products jumped 39.4% in June, IHS Global Insight reported
Taiwan to cut NZ agricultural tariffs TAIWAN said it would reduce its tariffs on New Zealand agricultural imports in stages over 2- 12 years, economy minister Chang Chia-juch said
Harbor Star defers IPO PHILIPPINE tug operator Harbor Star Shipping has deferred its planned IPO of up to 182M stocks to September
Changhang Phoenix debtors seek $2M SHENZHEN-listed Changhang Phoenix said today two suppliers have applied to a bankruptcy court over a combined $2M in debts
IEA: Iran's crude exports fell by 36% IRAN'S crude exports in June crashed by 36% month on month, the IEA said today
Work Begins on Toll Group's New Intermodal Terminal in Tasmania Toll Group has started construction on a $24 million intermodal freight terminal in the new Brighton Transport Hub in Hobart, Tasmania. Lara Giddings, Tasmania's premier, and Tony Foster, mayor of Brighton, joined Tony Stewart, Toll's general manager in Tasmania, to break ground on the construction of the Toll facility, the first...
GENCO Establishes Contract Packaging Business Unit GENCO has formalized its existing contract packaging capabilities into a new business unit. The new unit is being led by Dave Mabon, who will serve as its president. Mabon was previously chief operating officer and chief customer officer within the supply chain solutions and reverse logistics company. GENCO's contract packaging unit currently...
FTR: New Trucking Rules Will Require 60,000 Extra Drivers Trucking companies may have to hire as many as 60,000 additional drivers in the second half of 2013 to compensate for constraints on productivity from new hours-of-service rules that took effect July 1, according to transportation consultant Noël Perry. "If you're a carrier, this is the time to ramp up your...
China Navigation Acquires Polynesia Line China Navigation has acquired Polynesia Line, which connects the U.S. West Coast with Tahiti, American Samoa, Western Samoa and other Pacific Islands. China Navigation, the shipping arm of the Swire group, already had held a minority interest of 13 percent in the California-based PLL since 1979, and it has now purchased...
Port Hueneme, Ports America Christen New Harbor Crane Ports America's new crane at the Port of Hueneme.Officials from Port of Hueneme in California and Ports America have formally christened the stevedoring company's new Liebherr LHM 420 Litronic mobile harbor crane. The new heavy-lift crane is the second Ports America crane to be employed at the Port of Hueneme, joining...
OHL Signs Lease for Florida Distribution Center OHL's new distribution center near Miami.Ozburn-Hessey Logistics has signed a 185,520 square foot industrial lease to fully occupy the Pan American North Distribution Center in Medley, Fla., near Miami. The newly built industrial development, located in Pan Am North Business Park near the Florida Turnpike Extension and Route 27, will be...
North American Intermodal Volume Resumes Climb North American intermodal volume increased 1.8 percent year-over-year in the week ending July 6, after breaking its recent upward trend and falling 1.4 percent last week, according to the Association of American Railroads. Prior to last week, North American intermodal volume had been up for 12 weeks straight. North American rail volumes through...
K+S Potash Canada, Canadian Pacific Sign Transportation Contract K+S Potash Canada and Canadian Pacific have signed a long-term, volume-based contract for the transportation of potash products from K+S's Legacy site. The contract, which was signed in K+S Potash Canada's headquarters in Saskatoon, Saskatchewan, is for potash to be moved from the Legacy site, near Moose Jaw and Regina in...
Fraport's Cargo Traffic Rose Nearly 2 Percent in June In June, Fraport Group's five majority-owned airports handled 205,119 metric tons of cargo, an increase of 1.9 percent from June 2012. From January to June, the Fraport Group moved 1.15 million metric tons of cargo, rising 1.2 percent from the first half of last year. The German company operates the airports of...
Russia to Temporarily Ban Food Imports From Greece Russia is planning to introduce temporary restrictions on dairy, meat and seafood imports from Greece, starting July 15, according to the Russian Federal Veterinary and Phytosanitary Inspection Service, The Moscow Times reports. Russian food safety inspectors, who discovered violations of hygiene standards in June, said the Greek Veterinary Service had overlooked...
Sub-Saharan African Exports to Latin America Rise Containerized exports from sub-Saharan Africa to Latin America jumped 16.7 percent in April. Exports to the other regional trades fell or remained flat year-over-year, with the largest drop being in containers exported to North America, according to data from Container Trades Statistics, Ltd. Sub-Saharan Africa to Far East Asia Sub Saharan Africa...
MOL Comfort Wreck Helps Support Asia-Europe Rates Photo courtesy gCaptain.Average spot rates on the Asia-Europe trade held onto most of the general rate increase that took effect on July 1, in part because the wreck of the MOL Comfort has taken some vessel capacity out of the trade. After almost tripling to $2,622 per 40-foot-equivalent unit in the...
Chicago Sees Largest Deficit in 40-Foot Container Availability Ocean Shipping Container Availability Report, July 10 Full-size image The number of 40-foot containers available for export in Chicago in the week of July 10 was below zero for the fifth consecutive week, according to the U.S. Department of Agriculture's weekly Ocean Shipping Container Availability Report. Carrier data used in the report indicates...
Court Rules Alabama's Fuel Tax for Rail Carrier Purchases Discriminates CSX has won an appeal against the Alabama Department of Revenue regarding the agency's imposition of a sales and use tax on diesel fuel purchased by rail carriers. Citing the Railroad Revitalization and Regulatory Reform Act of 1976, which prohibits certain discriminatory taxes, CSX Transportation said in the case, "CSX Transportation,...
FTR Trucking Index Reflects Positive Environment FTR Associates' Trucking Conditions Index for May, published in the July 2013 Trucking Update, was unchanged compared with the previous month, continuing to reflect a positive environment for trucking with a reading of 12.4. "The trucking industry has seemingly been stuck in a holding pattern for the last year or so,"...
Changing of the Guard From left: James Capo, Brian Dugan, Joseph CurtoAnyone who followed the heated back-and-forth of the recent International Longshoremen's Association contract negotiations might wonder how the two sides could ever work together. Truth is, they have no choice. Tempers sometimes flare during bargaining, as we saw during the ILA talks. But the...
Crude-by-Rail Increasing in US, But Pace of Growth Has Slowed As U.S. crude oil production outpaces pipeline capacity, the U.S. is depending more on railroads to move crude oil to refineries and storage centers, although growth in such shipments has slowed recently, according to the U.S. Energy Information Administration, based on data from the Association of American Railroads. From May to...
FedEx Express Expands Presence in Italy, Germany FedEx Express has opened new stations in Bari, Italy, and Bergneustadt, Gescher, Wesel and Zülpich, Germany. The FedEx subsidiary chose Bari as its point of expansion in southern Italy because of rising export activity in the region, particularly from small and medium enterprises, said Renato Carrara, managing director and general manager...
State of Georgia names new Centers of Innovation leaders ATLANTA, July 10, 2013 - The Georgia Department of Economic Development (GDEcD) announced today that Page Siplon will serve as director of the Georgia Centers of Innovation (GCOI), and that Bo Warren, currently with the Georgia Department of Agriculture (GDA), will become director of the Georgia Center of Innovation for...
Union Pacific Files Climate Change Data with CDP, Outlining Strategic Actions Related to Climate Change Omaha, Neb., July 10, 2013 - Union Pacific completed its 2013 submission of climate change data to CDP, illustrating concerted company efforts to reduce greenhouse gas emissions. "This annual climate change response is an affirmation to customers, employees, shareholders and communities that environmental sustainability is a vital consideration in Union Pacific's...
Egypt's silver lining Turmoil in Egypt could lead to increased Suez Canal disruption risk that may benefit more than just the crude tanker sector, an analyst said.
Vantage advantage Earnings estimates lifted after drillship order firmed by Houston-based Vantage Drilling.
OPEC sees shale threat Crude extracted from shale formations in the US and Canada is expected to erode demand for oil produced by nations affiliated with The Organization of Petroleum Exporting Countries (OPEC) in 2014.
Coal woes may return Colombian coal miner strikes may once again impact the dry-bulk market by the end of this month, broker ICAP Shipping says.
Tyumen loses control Russia's Northern River Shipping Lines (NRSL) has said rival owner Reskom-Tyumen (RT) has lost control of the company.
Navios adds four more Navios Maritime Acquisition (NNA) has splashed out just over $130m on four more products carrier newbuildings.
Heated reflections A charity set up to help the victims of piracy has reacted angrily to reports over the fate of the sunken hijacked 1,022-teu containership Albedo.
Sinokor bags MR funds South Korea's Sinokor has netted a loan to finance part of its huge MR tanker splash at compatriot Hyundai Mipo Dockyard (HMD).
Chinese capacity down Chinese shipyard capacity has shrunk 36% year-on-year in the first half, with the orderbook also down.
Siem orders in Poland? Siem Offshore is tipped to have ordered a pair of offshore support vessel newbuildings at Remontowa.
Vard profit crumbles Ongoing problems at its Brazilian operations have seen Norway's Vard slump to a second quarter deficit.
Chinese chase TMT China Shipping Car Carrier has been left over $10m out of pocket following the financial troubles of TMT.
Rongsheng chases $103m Cash-strapped shipbuilder Rongsheng Heavy Industries is going to court to recover a big deposit paid during its aborted takeover of an engine maker.
More cash for STX Creditors of STX Offshore & Shipbuilding could provide KRW 2.1 trillion ($1.85bn) in financial aid by 2016.
Fund into Ocean Yield US hedge fund Brenner West Capital has emerged as an early investor in Aker shipping spin-off Ocean Yield.
DNB restores order DNB has unseated Nordea as the largest syndicated lender in the shipping and offshore business after just one quarter out of the top spot.
Coscol loss trebles Chinese shipowner Cosco Shipping Co (Coscol) has seen losses treble in the first half of 2012.
DNB cuts impairment DNB has logged a stronger than expected profit in the second quarter as impairments on the shipping book showed signs of slowing.
Blazing tanker abandoned A tanker crew have been rescued after jumping from their blazing vessel off Panama.
Ship sinks after smash The crew of a Chinese cargo vessel has been rescued after a collision with a Greek panamax off Korea.
Irtysh earnings trimmed Russia's Irtysh Shipping Company has posted a slim profit for 2012.
Beaute and the beach French ferry operator SNCM's veteran cruise-ferry Ile de Beaute (built 1979) has been sold for scrap in a tonnage clearout that is a result of a recent rescue package from the French government.
Pirates target tanker An unnamed tanker was attacked by pirates yesterday while it was approximately 12 nautical miles off Malaysia's Tioman Island.
Maribo refloated Norwegian cargoship undamaged after grounding.
Albedo crew fate uncertain The fate of the crew of the sunken Malaysian boxship Albedo (built 1993) remains a mystery as lifeboats from the ship were spotted on a Somali beach.
Emma back in action Maersk Line's 15,550-teu boxship Emma Maersk is set to return to service on 18 July after repairs lasting five months.
MOL Comfort sinks Hopes to find the cause of the catastrophic cracking of the Mitsui OSK Lines containership MOL Comfort have been dashed after its forward section sank in the Indian Ocean last night.
Princimar plotting pullout? Industry observers are keeping a close eye on Principal Maritime this week amid widespread speculation the US tanker owner's alliance with Stena Bulk and Sonangol may be drawing to a close.
Santos port strike expected today The National Stevedores Association in Brasilia is concerned about privatization at a new container terminal in Santos, with union longshoremen alleging the group behind the new terminal won't hire from a centralized agency.
Firm to convert Seattle drayage trucks to natural gas
Ryder opens 2 natural gas fueling stations
Chemical distributor to use Transplace TMS
OECD averages 1% of GDP on infrastructure spend While the 34 countries in the Organization for Economic Cooperation spend an average of 1 percent of GDP on transportation infrastructure, that percentage hasn't changed since 1995, according to recent ITF data.
Second half of MOL Comfort sinks
USDA awards export promotion funds The department said the past four years represent the strongest period for U.S. agricultural exports in the history of the country. Farm exports in fiscal year 2012 reached $135.8 billion and supported 1 million American jobs.
Retailers release Bangladesh factory safety guidelines Seventeen major retailers have banded together to form a work safety initiative in Bangladesh, demanding factory inspections, the development of common safety standards and the election of worker representatives.
Ex-Im Bank supports ag equipment exports to China
Georgia innovation centers get new directors
NewPort Tank, Sinochem enter common ownership
Swissport signs handling deals with Etihad SkyCargo
Order surge for product tankers could 'kill recovery' Sector may benefit from shipping sulphur regulation, but report warns too many orders 'is clearly unhelpful'.
MOL Update: Oil film seen at wreck site Over 1,000 mt of fuel oil onboard sunken ship, company says.
Prices display mixed signals in Fujairah Prices heading down in South African bunker hubs.
Prices head upward across Europe MGO prices at Piraeus stuck to yesterday's level.
Bunker tanker ablaze Crew abandon ship after engine room fire gets out of control.
EC proposal for MRV Regulation for shipping - Can we have a 'soft landing' please Time needed to test out some of the requirements and achieve the level of accuracy and detail the proposal envisages.
Singapore fuel oil stocks show small decline Inventories expected to rebound in the coming weeks.
MOL: Fore section sinks Two halves of stricken container ship now sunk.
IFO prices inch up Mixed demand for bunker fuels reported at Singapore port.
Crowley acquires fuel company in Alaska Anderes Oil supplies marine fuel among other products at Alaska.
Coscol H1 losses triple 'Depressed shipping market and high fuel price' were behind the losses, says analyst.
Dubai meetings showcase local bunkering industry Various departments from Dubai Maritime City Authority updated the bunker industry on latest changes.
Rolls-Royce: Ship propulsion entering transitionary phase Industry to use dimethyl ether, LNG and 'high-tech wind' for propulsion in the future.
Edison Chouest to build 17 'fuel-efficient' PSVs Newbuildings will feature a new hull form.
Cold ironing rates for port of Halifax under consideration Rates likely to be set in the $0.09 to $0.10 per kilowatt hour range.
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