Lower supramax rates pull Eagle Bulk into a deeper third-quarter loss However, company has narrowed its losses on a nine month basis
Data Hub: World Fleet Update Fleet stays static in terms of ship numbers, but new vessels are adding more tonnage to an already overweight market
Could Asia support a northern oil hub alternative to Singapore? Ulsan emerges as a promising site to fill a notable gap in the market
Why Seoul must lead north Asia to forge closer 'blue economy' ties Joint effort could improve maritime supply chains across China, South Korea and Japan
Diana Containerships sees red again SIMEON PALIOS-led Diana Containerships reported its third consecutive losing quarter today
GasLog triples profits with newbuilding deliveries NEWBUILDING deliveries of four LNG carriers helped to more than double GasLog's 3Q13 revenues and more than triple profits, the company revealed today
Australia designs 'floating ports' FiSH - Field Support Hub - is a floating ports concept that is the brainchild of the National Ports Corporation
Ksure finances UASC box ships SOUTH Korean export credit agency Korea Trade Insurance (Ksure) has announced a $510M financing package for 12 ULCSs that United Arab Shipping ordered
Odfjell makes $9M in 3Q13 NORWAY'S Odfjell today reported a net profit of $9M for 3Q13, from a loss of $2M for the same period a year ago
SCI's profits turn into $30M in 3Q13 losses GOVERNMENT-run Shipping Corp of India today reported net losses of 1.24Bn rupees ($30M) for 3Q13, wiping out profits of 2.97Bn rupees year on year
Drybulk rate pressure warned DRYBULK rates could come under renewed pressure by 2016 as owners have begun another ordering frenzy, a sector consultancy has warned
Yangzijiang seen exceeding 2013 target ANALYSTS said today Yangzijiang Shipbuilding is on track to exceed its 2013 order target of $2.5Bn
Fields: Port of Long Beach Brand Taking a Hit Long Beach Harbor Commission President Thomas FieldsLong Beach Harbor Commission President Thomas Fields expressed concern Thursday that an attempt by Mayor Bob Foster to have him removed from the commission is damaging the port's reputation at a time when major changes are taking place in the maritime industry. "This issue is...
Maersk Line, Limited Names Bruner President, CEO Maersk Line, Limited's board of directors has named J. Russell Bruner as its next president and CEO. Bruner will succeed John F. Reinhart, who will depart from the U.S.-flag subsidiary of Maersk Line on Jan. 31, 2014, to become the CEO and executive director of the Port of Virginia. Bruner joined Maersk...
Evergreen, Hanjin Partner in New SE Asia Service Evergreen Line is partnering with Hanjin Shipping to create a new service linking South Korea, China, Vietnam, Singapore and Malaysia. The New Ho Chi Minh Service, NHS, will employ four ships, each with capacity of 2,500 20-foot-equivalent units. Evergreen will supply one ship, and the others will be supplied by Hanjin. The...
Hanjin Shipping's Loss Widened in Third Quarter Hanjin Shipping reported a net loss of 432.8 billion won (about US$404.9 million) from January to September, versus a net loss of 386.9 billion won in the same period last year. The container line said in August, when it reported its earnings for the first half of 2013, that it had achieved a...
NY Thruway Authority's Use of Tolls Sparks Lawsuit The American Trucking Associations filed a class-action lawsuit accusing the New York State Thruway Authority of violating the constitution by diverting toll collections to tourism and recreational facilities along the authority's historic canal system in upstate New York. The ATA said the Thruway Authority's use of toll collections for the canal...
NY-NJ Port, Carrier Battle Over Cargo Fee "K" Line has asked a Federal Maritime Commission administrative law judge to allow a full FMC review of the Port Authority of New York and New Jersey's controversial cargo facility charge. The carrier contends the 2-year-old CFC, imposed on all cargo moving on or off vessels, is an illegal tax on...
Kuehne + Nagel sets new standards in green house emission reporting Schindellegi / CH, November 14, 2013 - With the ISO 14064-3 re-certification of its Global Facility Carbon Calculator (GFCC) and Global Transport Carbon Calculator (GTCC), Kuehne + Nagel underlines its commitment to manage climate change issues along all operations. In order to provide its customers with reliable CO2 emission data Kuehne + Nagel...
Con-way Freight Names Stephen F. Dean Vice President of Sales ANN ARBOR, Mich. - Nov. 14, 2013 - Con-way Freight, a less-than-truckload (LTL) carrier and subsidiary of Con-way Inc. (NYSE: CNW), today named Stephen F. (Steve) Dean vice president of sales.Mr. Dean, a 30-year veteran of the freight transportation and logistics industry, joins the company effective November 25. In his...
Port of Los Angeles 'Trade Connect' Program Earns City of Los Angeles' Highest Service SAN PEDRO, Calif. - Nov. 14, 2013 - Trade Connect, the Port of Los Angeles' signature export education outreach program, has earned the City of Los Angeles Quality & Productivity Award. The honor is the City's highest award for superior public services and programs. Dedicated to helping small and midsize companies compete...
US Senators Introduce Legislation to Extend Fatigue Rules to Cargo Pilots The press event for the Safe Skies Act of 2013 at the U.S. Capitol. Source: Coalition of Airline Pilots AssociationU.S. Sens. Barbara Boxer, D-Calif.; Maria Cantwell, D-Wash.; and Amy Klobuchar, D-Minn., have introduced legislation that would align hours of service requirements for cargo plane pilots with those that now apply...
P3 Faces a Tough Sell in Europe This is the second in a series of articles looking at the P3 Network's chances of approval in the U.S., Europe and China. The world's three largest container lines will likely have a tougher time convincing European Union regulators than their Chinese and U.S. counterparts that their proposed vessel-sharing alliance won't...
Reducing Risk in Loading Q: I just read your article regarding Incoterms in a bill of lading in which you say Incoterms relate to the transfer of title. I thought Incoterms provided the responsibilities of the seller and buyer but didn't relate to title transfer. Title transfer would be referenced in the contract terms...
MLL picks CEO AP Moller-Maersk has picked insider Russell Bruner to take the helm of Maersk Line Limited (MLL), the Danish shipping giant's US-flag arm.
Fincantieri in cash dash A move by Italian shipbuilder Fincantieri into the bond market has had a warm reception from investors.
Sold! Euronav has completed the sale of a nine-year-old VLCC that is owned by a 50/50 joint venture with Wah Kwong Maritime of Hong Kong.
Cape deal sealed Knightsbridge Tankers has firmed up a contract to construct two capesize bulkers at a cost of $53m a piece.
K Line seals finance Japan's K Line has secured financing for an LNG newbuilding under construction at compatriot shipyard Kawasaki Heavy Industries (KHI).
West goes for 7.5% The West of England Ship Owners Mutual Insurance Association has set a 7.5% general increase, but the way it calculates the rate rise means that compared to rivals it amounts to an average 6% increment.
Insolvency hide-and-seek A Chinese court has finally declared liner operator Hainan Pan Ocean Shipping insolvent.
Lauritzen slashes deficit Denmark's J Lauritzen has cut its third quarter net deficit thanks to last year's big asset disposal losses not being repeated.
SITC adds bulkers Chinese containership owner SITC International Holdings has agreed to take control of five bulkers owned by a related company.
Navios in new $650m sale Greek bulker owner issuing more ship mortgage notes to refinance earlier debt.
DCIX down on rates Diana Containerships (DCIX) slipped to a third quarter loss as charter rates sank.
Cosco Corp adds ultramax Cosco Corporation (Singapore) has won new orders worth more than $380m, including an additional ultramax bulker.
GasLog ups divi Peter Livanos' GasLog has boosted its payout to shareholders after reporting an improved set of third quarter results.
HMM sees bigger loss Hyundai Merchant Marine (HMM) posted a deeper third quarter loss despite seeing a slight rise in revenue.
Fisher revenue rising James Fisher and Sons has seen revenue rise in the third quarter in which it sold its slice of Foreland Holdings.
STX PO bleeds in third STX Pan Ocean has seen its running loss for 2013 close in on half a billion dollars.
Hanjin deeper in the red Hanjin Shipping fell deeper into the red in the third quarter and the deficit was worse than analysts had feared.
ICAP improving ICAP noted an improvement in income from shipbroking as it reported a strong set of half-year results.
Martin Houston steps aside BG Group chief operating officer Martin Houston has stood down from his role as chief operating officer and executive director and will retire on 31 December 2014.
Driese spots more trouble Wolfgang Driese warned of further challenges ahead in the ship finance arena as DVB reported a slip in profit over the first nine months of 2013.
Evergreen edges profit Evergreen Marine scraped a profit in the third quarter thanks to recent freight rate rises.
Western Bulk extends run Western Bulk has penned a long-term charter for anther eco newbuilding after landing a contract of affreightment from Hydro Aluminium.
Murmansk open for offers The state's stake in Russian bulker and tanker owner Murmansk Shipping Company is up for auction next month.
Odfjell on the up Norway's Odfjell has returned to profit in the third quarter, reducing its loss so far this year.
Prisco falls to loss Primorsk Shipping (Prisco) has slipped to a loss in the first nine months as revenue dropped.
Another $65m for Aker Aker Philadelphia Shipyard has confirmed another $65m of fresh funds - this time from private equity.
Aegean profit slides Aegean Marine Petroleum has seen net income slide by almost 17% on the back of weaker volumes in the third quarter.
Baltic prices offering Baltic Trading is set to raise gross proceeds of at least $50.6m from its latest round of fund raising.
ULTR back in black A surge in its river barge trade has helped Argentina-based shipowner Ultrapetrol return to profit in the third quarter.
Eagle worse off in Q3 Losses at Eagle Bulk Shipping deteriorated further in the third quarter of 2013 despite the improving operating environment.
DNB sells off Genco debt Shipping banks are continuing to offload troubled loans to hedge-fund buyers with DNB now understood to have sold its exposure to dry bulk's Genco Shipping & Trading.
Ports beat shutdown Major US ports are forecast to have seen inbound container volumes increase 6.5% last month despite the government shutdown.
Congress acts to include cargo pilots in fatigue rule The legislation would mandate that cargo pilots adhere to the Federal Aviation Administration's new pilot fatigue guidelines, limiting the amount of continuous flying time for passenger pilots.
Ex-CBP officials join Command Consulting's supply chain practice CT Strategies will operate as a subsidiary of Command Consulting Group, helping clients with border management, trade facilitation, supply chain security, intelligence targeting, and joining trusted trader partnership programs.
U.S.-flag Great Lakes tonnage up 14.4% in October
Hanjin reports third quarter loss
CSX to test LNG locomotives "LNG technology has the potential to offer one of the most significant developments in railroading since the transition from steam to diesel in the 1950s," Chief Operating Officer Oscar Munoz said in a statement.
Hamburg traffic could top 9.3 million TEU this year Axel Mattern, the Port of Hamburg's marketing chief executive officer, said he anticipates anticipates seaborne cargo throughput for the full year of up to 138.5 million tons. That would correspond to an almost 6-percent increase over 2012.
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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