Cargotec warns on MacGregor unit's profits CARGOTEC of Finland today reduced its full-2013 guidance for its MacGregor unit because of continued slippage in merchant ship deliveries
Big Mouth, big sting A MAN who billed himself as one of Somalia's most powerful pirate leaders is reportedly under arrest Belgium after a sting operation
OSG builds cash cushion TANKER owner OSG continues to bolster its cash on positive operating results during its Chapter 11 bankruptcy, an SEC filing revealed today
Indians: prove arms on ship were legal AN INDIAN Coast Guard official told Fairplay today that the owner of an arrested security ship must produce arms permits to get it released
Box derivatives bogged down FREIGHT hedging in the box trades is lagging despite increased volatility in spot rates, forcing several brokers to quit the business
More smuggled migrants arrive in Italy MORE THAN 200 migrants have reportedly arrived in ports in eastern Sicily after being rescued this weekend by an Italian merchant ship and by Italy's coastguards
11 cyclones seen for Oz WEATHER authorities have predicted that 11 cyclones are likely to affect Australia in the six-month season that starts next month
Drybulk recovery sparks asset value rise RECOVERY in drybulk rates has triggered a rise in asset values that now embraces all segments of the sector, said a shipbroker report issued today
China-Taiwan trade rises TRADE between Taiwan and China climbed 23.1% year-on-year during the first nine months of 2013, Beijing said
CMES sells two tankers SHANGHAI-listed China Merchants Energy Shipping said it has sold a VLCC and another tanker for a total of Rmb142.63M ($23.58M)
Pacific Basin 'sounding out' selling unit HONG KONG-listed Pacific Basin Shipping today confirmed it is seeking to sell its towage business
Chinese builders lag far short of capacity CHINA'S shipbuilding industry operated at just 75% of their overall capacities at the end of 2012, a government circular said today
Container Volume Continues to Build at Port of Los Angeles Containerized imports in Los Angeles continued to build in September for the peak shipping season, reaching a monthly high of 370,785 20-foot-equivalent container units. The September volume was slightly larger than the previous monthly high recorded in July, although imports were down 3.75 percent from September 2012. Year-over-year container volumes in Los...
CSX's Net Income Climbs CSX today reported third quarter profit of $463 million, up 1.7 percent from $455 million in the same period last year. The quarterly performance was supported by "strong" operating results and higher revenues that included benefits from customer contract settlements, CSX said in a written statement. Quarterly revenue was $3 billion,...
Port of Charleston's Container Volume Rises 3.3 Percent South Carolina Inland Port in Greer, S.C.The South Carolina Ports Authority handled 133,011 20-foot-equivalent units in September, partially driving a 3.3 percent increase in container volume in the first quarter of fiscal year 2014. From July through September, the Port of Charleston moved 413,818 TEUs, including exports of 216,680 TEUs, up...
Trans-Pacific Carriers Target Nov. 15 Rate Hike The discussion group representing shipping lines in the eastbound Pacific has recommended a guideline calling for a rate increase of $400 per 40-foot container to take effect on Nov. 15. The Transpacific Stabilization agreement suggested that the rate increase would cover imports from all origins in Asia to all destinations in...
J.B. Hunt Transport Services' Profit Up in Third Quarter J.B. Hunt Transport Services reported its net income in the third quarter of 2013 was $89.5 million, or diluted earnings per share of 75 cents, compared with $78.2 million, or 65 cents per diluted share, in the same quarter last year. Quarterly revenue for the motor carrier, No. 3 in JOC's...
Los Angeles and Long Beach Seek to Build Reefer Business While Controlling Electricity Costs Rich Dines wants more reefer cargo moving across the docks in Long Beach. Dines, a member of the Long Beach Board of Harbor Commission and a longshoreman, says San Pedro Bay ports aren't as competitive as they need to be to grab the increased business, and he supports fee adjustments that...
Investors, Rivals Eye Vitran Canada as Stock Price Climbs A battle may be brewing for the Canadian business of trucking operator Vitran, which this month sold its ailing U.S. less-than-truckload business. Nova Scotia-based investment firm Clarke, which has clashed with Vitran's board of directors in the past, last week paid about $1.79 million for nearly 338,000 shares of Vitran stock,...
Maersk Line Plans US-Asia Rate Hike for Mid-November Maersk Line will attempt to raise rates for shipments on its trade from the U.S. to Far East Asia, effective Nov. 15: From the U.S. West Coast and inland points to the Far East, the increase will be $80 per 20-foot container and $100 per 40-foot, 40-foot high-cube and 45-foot container. From...
Kuehne + Nagel's Earnings Up, But Container Volume Stalls Kuehne + Nagel's third-quarter earnings increased 8.3 percent year-over-year, even as the Swiss logistics giant's core ocean container business stalled as it prioritized profit ahead of volume. Earnings before interest and taxes rose to 195 million Swiss francs (about US$215 million) in the three months through the end of September, from...
Teamsters Threaten Strike Against Canadian National The Teamsters Canada Rail Conference, which represents about 3,300 conductors, trainmen, yardmen and traffic coordinators at Canadian National, is gearing up for a strike or lockout in its relations with the Class I railroad on Oct. 28. Ongoing talks, following the expiration of the union members' contract on July 22, broke...
Belgium Arrests Alleged Pirate Boss in Movie Sting A suspected Somali pirate chief has been arrested in Belgium after he was lured to the country by police posing as filmmakers who wanted him to star in a documentary about his exploits. Mohamed Abdi Hassan, known as "Afweyne" or "Big Mouth," allegedly has pocketed millions of dollars in ransom payments...
Alitalia Bailout Under Fire Alitalia, Italy's national airline, averted bankruptcy after shareholders agreed to a €500 million ($675 million) government-led bailout, but European Union regulators could yet veto the deal. International Airlines Group, parent of British Airways and Spain's Iberia, claims the rescue breaches EU state aid rules and has urged the European Commission to...
Private Firms to the Rescue During Government Shutdown Where to find private-sector substitutes for U.S. government publications and data during the shutdownOne of the consequences of the prolonged U.S. government shutdown is the suspension of federal transportation and trade data releases. For some companies, these releases are an essential part of conducting business by providing information on market...
XLProjects gains Salammbo Group in Tunisia and Lybia Salammbo Group is a freight forwarding agent headquartered at Tripoli and having branches covering almost Libyan ports. Their dedicated team of professional, well experienced personnel contribute their fullest efforts in performing their duties to accomplish all shipping related matters, yielding successful results. They are committed give an excellent service at competitive rates...
Boskalis completes sale of SMIT Gladstone towage operation to Smit Lamnalco Royal Boskalis Westminster N.V. (Boskalis) has successfully completed the sale of its Australian harbor towage business to its strategic partner Smit Lamnalco. The sale had already been announced in August 2013 as part of a strategic realignment of the towage activities. Boskalis received USD 55 million in cash for all the...
Pacer Announces Addition of Experienced Executive as the General Director of Sales for Mexico DUBLIN, Ohio--(BUSINESS WIRE)--Pacer International, Inc. (NASDAQ:PACR), the North American freight transportation and global logistics services provider, announced the addition of Raul Rodriguez Hernandez as General Director Mexico Sales for Stacktrain Mexico de R.L. de C.V., a Pacer subsidiary. In his new role, Mr. Rodriguez Hernandez will be responsible for leading...
Celtic International Hires Thomas Lohan as Vice President of Operations CHICAGO--(BUSINESS WIRE)--Celtic International today announced that Thomas Lohan has joined the company as senior vice president of operations. Lohan will be responsible for leading the company's day-to-day operations and will report to President Steve Golich. Prior to joining Celtic, Lohan served as director of operations, logistics and distribution at Quad Logistics...
Intra-Asia Slowdown Prompting Strategic Rethink Lower demand growth and freight rates are forcing "rational" intra-Asia shipping lines to cooperate to optimize opportunities and avoid sinking into the red, according to one leading executive. Speaking to JOC earlier this month, Tim Wickmann, CEO of MCC Transport, A.P. Moller-Maersk's Singapore-based intra-Asia operator, said overall intra-Asia cargo volumes had only...
EURN takes aim at 'eco' Euronav is looking to equip all of its suezmaxes and VLCCs with a device designed to reduce fuel consumption, it told investors Tuesday.
Euronav reduces loss Euronav failed to shed the red in the third quarter but the deficit was not as deep as many market forecasters had expected.
Boskalis offloads Oz tugs Royal Boskalis Westminster has completed the sale of its Australian harbour towage business to partner Smit Lamnalco.
Canada's ferry bid A new group of investors is trying to re-launch a fast ferry service between Nanaimo and Vancouver in Canada.
Navios panamax fixed Navios Maritime Partners has found initial employment for a newly-arrived bulker.
Thai tanker fleeced A Thai International Tankers vessel that hasn't been heard from in days was hijacked by pirates who stripped it of its cargo.
Chances missed? Concerns over defective hatches on the livestock carrier Danny FII were raised by flag state Panama three days before it set sail on its fatal final voyage in 2009.
Bibby unit books another Bibby Line unit Osiris Projects has logged an order for a second specialist survey vessel at a French shipyard.
2Go: not our fault Philippines owner 2Go has blamed a rival owner for the fatal sinking of its ferry St Thomas Aquinas.
Busted in Brussels A Somali branded one of the country's most powerful pirate leaders has been arrested at an airport in Belgium.
Lauritzen in sales race Loss-making Danish owner J Lauritzen needs to complete asset disposals to avoid a breach of bank covenants, according to Sweden's SEB Enskilda.
STX O&S seeks funds Ailing shipyard STX Offshore & Shipbuilding has launched a fundraiser on the Korean Stock Exchange.
Bingo crew rescued India's coast guard has rescued all 18 crew from a Taiwanese cargoship that sank on Saturday in cyclone Phailin.
A tonic for Teekay An expected resolution to a couple of troublesome loans with TMT has contributed to an upgrade for Teekay Tankers.
Italy faces ports strike Italian ports look likely to be shut down for a day next month in a dispute over workers' collective labour agreement.
Bulker hit by blaze The crew of a Taiwanese bulker have been safely evacuated from their burning ship off China.
Survey ship freed Venezuela has released a Malaysian survey vessel after intensive diplomatic efforts by the South East Asian country's government.
Rio Tinto hits record Rio Tinto has reported record iron ore shipments for the third quarter of 2013 with further progress expected as fresh capacity comes on line.
Xinle bags LNG carrier China's Ningbo Xinle Shipbuilding Group has won its first order for an LNG carrier from a domestic operator.
PNSC in Sri Lanka deal Pakistan's ports and shipping minister has claimed a breakthrough deal for state owner Pakistan National Shipping Corporation (PNSC) with Sri Lanka.
Daewoo's double Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has added two more lucrative drillships to its orderbook.
Platten gets top UK job Guy Platten has been appointed as the new chief executive of the UK Chamber of Shipping.
OOIL outshines NOL RS Platou Markets believes OOIL is in a better position to ride out the recovery than its Asian rival Neptune Orient Lines (NOL).
Open to offers Pacific Basin is looking to exit the towage business and concentrate on the dry bulk sector it emerged Tuesday.
SLNG chills gas carrier Singapore LNG (SLNG) Corp has performed its first vessel cool-down service since coming on-line in May 2013.
Maersk raising U.S.-Far East rates For exports to the Far East moving through U.S. West Coast ports, the general rate increase is $80 for 20-foot dry boxes and $100 for other size dry boxes, including 40-footers, 40-foot high cubes, and 45-foot high cubes.
Air cargo propels K+N results For the first nine months of the year, the Swiss forwarder saw earnings before taxes increase by 6 percent to CHF$561 million ($612.83 million) over the same period last year, despite reduced volume in its sea freight business.
Air France-KLM group maintains cargo focus The airline holding company said its subsidiaries are making serious efforts to improve cargo service despite the recent announcement that Air France and KLM will phase out their four Boeing 747 all-cargo planes by 2015.
TNT Express expands morning delivery service
Cathay completes move to new cargo terminal
Clarkson exits container freight derivatives business
Work proceeding at new Liverpool terminal
Rail pricing steady despite challenges, study finds Railroad carriers are keeping prices steady despite uncertainty in the market stemming from the weak economy, modal shift and political factors, according to a recent survey of rail shippers conducted by Cowen and Co.
cargo-partner adds Vietnam location
Clarification: Cold train transload
Washington Notebook: Shutdown halts DOE diesel index
Bunker market quiet in Fujairah 380 cSt material managed to gain only half a dollar in Fujairah.
Prices soft across Europe Congestion easing up in Rotterdam.
Class society adds to LNG guidelines debate DNV GL invites comments on recommended practice document.
'Inherent dangers' limit prospects for Arctic shipping routes 'The ships aren't ready, support facilities and port infrastructure aren't in place, and the risks haven't been figured out.'
More orders for Wartsila dual fuels Chinese shipyards make dual-fuel engine orders.
New trader manager for Bomin International Former ship, insurance broker to oversee all of Bomin International's trading offices.
Bunker prices lack direction in Asian trade While offices in Singapore closed for a public holiday.
Omani player restarts operations Barging service should follow in November.
New trader at Monjasa Wajdi Elhakim has experience as a key account manager and bunker trader.
Valve manufacturer partners Japanese distributor To aid expansion in the Far East.
US firm buys sulphur-screening equipment To test effectiveness of fuel purification system.
China issues next year's fuel oil import quota Volume remains the same as in previous years.
US offshore firm in major transaction LNG-fuelled vessels are 'future of vessel support services', says CEO.
Bunker tanker returns to Kaliningrad Vessel is able to supply 380 cSt grade and MGO.
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