PETRONAS reported to order 4 LNG carriers MALAYSIA's national oil and gas producer PETRONAS has reportedly placed four firm orders for LNG carriers with Hyundai HI, with options for another four ship
DNB targets Gulf Nav's final VLCC DUBAI-based Gulf Navigation said today it will exit the VLCC market, while DNB has now moved to arrest and foreclose on its Gulf Eyadah
India seen as weak BRIC INDIA is the weakest link in the BRIC countries when it comes to box trades, according to the London-based shipping consultancy Drewry
Nanjing Tanker sees year four of losses NANJING Tanker, a Chinese tanker operator, today estimated it would post losses for 2013, because of depressed crude freight rates
Keppel wins deals for new Azerbaijan yard SINGAPORE's Keppel O&M said it had clinched two contracts together worth about $50M through its newly launched 62ha yard in Baku, Azerbaijan
Sevan raises loan total to spinoff Logitel SEVAN Marine of Norway said today it has agreed to increase a convertible loan to spinoff company Logitel Offshore by $9M to $60M
Rickmers, Apollo form investment JV APOLLO Global Management of the US and Hamburg shipowner Rickmers today said they have formed a box ship investment JV
Long-haul box rates fall more ASIA/Europe and trans-Pacific rates are continuing to drop ahead of the end of the peak season
Tankers suffer in Middle East crisis POLITICAL instability in the Middle East is spelling more trouble for the already-struggling crude tanker segment, RS Platou said in its latest monthly report
Two banks to join Chinese FFA trade CHINA Construction Bank and Bank of Communications are to join the yuan-denominated FFA trade
Lianyugang port to issue bonds SHORT-term financing bonds worth 1.4Bn yuan ($228.7M) will be issued on 26 September by China's Lianyungang port, Shanghai Clearing House announced todayc
Capesize period hires surge SEVEN Capesize period hires were on the market last week as spot rates hit a new three-year high of $37,443 per day last week
Container Traffic for Ports of Seattle, Tacoma Declined in August The ports of Seattle and Tacoma's combined container volume in August was 296,289 20-foot-equivalent units, declining 5.5 percent from 313,602 TEUs in August 2012. Loaded international containers moving through the nation's largest port complex dropped 6.6 percent over the level seen in August 2012, with imports down 9.2 percent year-over-year and...
Vitran Sells U.S. LTL Business for $2 Million Trucking company Vitran is on a route back to Canada across Detroit's Ambassador Bridge. Matthew Maroun, the owner of the Ambassador Bridge and a trucking empire that includes Central Transport and Universal Transport Services, will pay $2 million for the U.S. less-than-truckload operations of Vitran. The acquisition is expected to close in...
First 13,800-TEU Ship Delivered for Evergreen Service A Greek shipowner-charterer has taken delivery of the first in a series of 10 ships with capacities of 13,800 20-foot-equivalent units that will be deployed on Evergreen Line services. The Thalassa Hellas was delivered to Greece's Enesel by Hundai Heavy Industries of South Korea. The ship was named last week in a...
South Carolina's Inland Port to Test Potential for Short-Haul Intermodal When the South Carolina Ports Authority broke ground for an inland port at Greer, S.C., it implemented a strategy that was based upon securing an anchor tenant and linking that exporter to the Port of Charleston with multi-modal transportation options that include short-haul rail. Developing a port-dependent inland facility can not...
Evergreen Marine Chairman C.J. Wang Dead at 61 Capt. C.J. Wang, chairman of Evergreen Marine Corp., died of illness Sept. 20 at the age of 61, the company said. Evergreen President C.Y. Chang will take over the chairman's duties temporarily until the board elects a new chairman. Capt. Wang joined Evergreen in 1976 as a third officer, was promoted to captain...
Early Days at Overnite, Economic Regulation and Expansion The second part of a special program on Overnite Transportation founder J. Harwood Cochrane, 100 years old, and the rise of the trucking industry. Senior Editor Bill Cassidy interviews Cochrane and UPS Freight President Jack Holmes about the early days of Overnite and the company's expansion, largely through acquisition, in...
Port Manatee, Pasha Group to Develop Ro-Ro Terminal in Florida An aerial rendering of the planned ro-ro terminal at Port Manatee.Port Manatee and The Pasha Group are teaming up to develop and market a roll-on, roll-off terminal near the entrance to Tampa Bay in Florida. Port Manatee and Pasha Group officials met to sign the MOU. Full-size image The initial agreement between Pasha,...
Hapag-Lloyd to Launch Black Sea Service Hapag-Lloyd's new Black Sea Feeder rotation.Hapag-Lloyd will launch a Black Sea Feeder service connecting Egypt's Port Said with ports on the Black Sea and in Israel and Turkey. The fixed-day, weekly service will start in the beginning of October with the following port rotation: Port Said; Ashdod, Israel; Istanbul, Turkey; Constanta,...
High Sulfur Bunker Fuel Prices at 11-Week Low Bunker fuel prices - Rotterdam Full-size image Spot prices for high sulfur bunker fuel declined for a third consecutive week in the week ending Sept. 20, to the lowest level since July 5, according to daily BunkerVision price data via international marine fuel oil broker LQM Petroleum Services. High sulfur prices have decreased...
Restraining Order Ends Strike Against Wheeling & Lake Erie Railway U.S. District Court Judge John R. Adams has issued a temporary restraining order in Akron, Ohio, ending a strike by workers with the Brotherhood of Locomotive Engineers and Trainmen union against the Wheeling & Lake Erie Railway. According to court documents filed by the regional railroad, which normally operates an average...
Rickmers Teams Up With US Investor to Buy Container Ships Rickmers Group, the German shipowner, has established a joint venture with funds linked with U.S.-based Apollo Global Management to buy container ships. The joint venture has $500 million available to invest in second-hand vessels over several years. Hamburg-based Rickmers said it will provide technical and ship management services for the jointly acquired...
Global Ports' Profit Falls Nearly 26 Percent Container terminal in St. Petersburg.Russia's Global Ports reported its first-half net income fell 25.9 percent from a year ago to $53.7 million on stagnant container traffic and lower oil products shipments. The London-listed company, which accounts for 30 percent of Russia's container traffic, saw revenue dip 2.6 percent to $249.1 million...
TPA applauds House T&I Committee passage of WRRDA legislation TAMPA, Fla.- The Tampa Port Authority (TPA) is very pleased to recognize and strongly support yesterday's passage of legislation through the U.S. House Transportation and Infrastructure (T&I) Committee that streamlines and reforms federal processes related to dredging in our nation's harbors. This legislation also authorizes needed investment in various American...
Port of Tampa to showcase new AMPORTS facility at Automotive Logistics Global Conference in Detroit TAMPA, Fla.-The Tampa Port Authority (TPA) announced that the new Port of Tampa AMPORTS auto-processing facility will be showcased at the Automotive Logistics Global Conference, to be held in Detroit, September 24-26, 2013. Raul Alfonso, the port authority's executive vice president and chief commercial officer, will be a featured speaker...
Florida Ports and Partners Meet with Congressional Leaders in Support of Critical Port Legislation TALLAHASSEE, Fla. (September 20, 2013) - Florida port directors and transportation leaders met with more than 20 congressional members in Washington D.C. this week on top seaport issues, specifically discussing the House Water Resources Reform and Development Act (WRRDA) and its importance to Florida seaports. For the Washington Fly-In, the...
FedEx Joins Asia Pacific World Leaders To Discuss Global Trade HONG KONG, September 23, 2013 - Executives of FedEx Corp. (NYSE: FDX) have been invited to attend the APEC CEO Summit, along with the world's top business and government leaders in Bali, Indonesia October 5 to 7. By providing a forum for the Presidents of the Asia Pacific economies, and for...
Kalmar introduces its latest forklift to the North American market Kalmar, part of Cargotec, presents its latest range of forklift trucks to the North American customers at Breakbulk Americas 2013 exhibition on 23-26 September in New Orleans, USA. The DCG90-180 range is part of Kalmar's new 'G' generation of counterbalanced equipment, which was introduced to the European audiences in 2011. Thomas...
Online Master of Science in International Logistics Management Online Master of Science in International Logistics Management from Maine Maritime Academy Loeb-Sullivan School of International Business and Logistics The Loeb-Sullivan School offers an online MS degree program, which launched in the fall of 2013. This builds on the successful campus-based MS in Global Logistics and Maritime Management program that has...
Cape for Cobelfret Louis Dreyfus has secured period work for one of its two owned capesize bulkers in a red hot market.
Iraq to boost output Oil shipments from Iraq will rise for the rest of September after a pipeline was fixed in a southern oilfield.
Topaz clinches finance Topaz Energy and Marine has closed out a financing deal with for 12 offshore support vessels.
Navig8 stretches six Navios Maritime Acquisition has secured a payrise for six product tankers known to be on hire to Navig8.
Ultrapetrol tops up Argentina-based Ultrapetrol shipowner is tapping investors for a further $25m.
Diana hammers out another Diana Shipping has confirmed a successful swoop on an auctioned Deiulemar vessel.
More for Baltic Trading The underwriters of New York-listed bulker owner Baltic Trading's latest offering have snapped up another 1.8m shares, worth $8.5m.
Crude terminal on hold A company developing a potential Lake Superior crude tanker terminal has mothballed the project for the time being.
Precious makes it four Precious Shipping has continued to build its orderbook with a contract for a fourth cement carrier at Shanhaiguan New Shipbuilding in China.
Global Ports profit down Global Ports has seen its bottom line curbed by the falling value of the Russian rouble.
Union backs Steam Packet The RMT union has pledged to back the Isle of Man Steam Packet Company as it prepares to face the threat of fresh competition.
Geden sells a sixth Turkish owner Geden Lines has continued its selloff of assets, brokers say.
Eimskip kept in the dark Icelandic container line Eimskip has failed in its bid to learn the reason behind a series of dawn raids on its offices this month.
Gulf Nav price jumps Shares in Gulf Navigation soared today after the company confirmed its intention to quit the VLCC sector.
Capes in demand Demand for an extra 430 capesize bulkers could emerge as the world's four largest iron ore miners ramp up production, Jefferies says.
New team for Spain Oldenburg-Portugiesische Dampfschiffs-Rhederei (OPDR) and Team Lines are joining forces for a new run from Spain.
Crew contains fuel leak A Greek-managed boxship has escaped a fine for a small oil spill in the Brazilian port of Manaus.
Eco a "bonus" Eco credentials offer a "nice bonus" for owners looking to buy new bulkers today but Clarksons doubts if buying the ships is necessary.
Aliyev opens Baku yard Azerbaijan's president Ilham Aliyev has officially opened the country's new shipyard as it prepares to build up to eight ships a year.
Rickmers deepens PE ties Rickmers Group has entered into a vessel acquisition joint venture for with another private equity company.
Aquinas fuel removal halted The removal of fuel from the sunken St Thomas Aquinas has been halted by heavy swell off the Philippines.
Golden denies double deal Golden Ocean has distanced itself from the purchase of two kamsarmax resales at New Century Shipbuilding.
GPRT scraps boxship Goldenport Holdings confirmed Monday that it had disposed of an elderly containership as it continues to spruce up its fleet.
Glenn suspended The US navy has barred Singapore shipowner Glenn Defense Marine Asia from further contracts after its president was arrested on bribery charges.
Cadet killed by rope A cadet has been killed and two port workers badly injured during the berthing of a general cargoship in Turkey.
Korean bulker aground A South Korean-owned kamsarmax bulker has reportedly run aground off the Russian port of Vysotsk.
Princess lost power A recently delivered Princess Cruises ship was temporarily left without power on Sunday during a cruise in the Mediterranean.
Cape resales near $50m A Japanese-owned capesize newbuilding resale looks poised to set a new benchmark for secondhand values.
Gulf confirms VL exit Gulf Navigation has confirmed plans to exit the VLCC sector and concentrate on the chemical tanker segment.
Hapag taps investors Hapag-Lloyd has successfully tapped institutional investors to raise EUR 250m ($338m) from a bond issue.
Drewry: East-West rates rise in August as capacity tightens
YRC Freight shuffles top management James Welch has been appointed president of YRC Freight in addition to his duties as chief executive officer of YRC Worldwide. Welch, who has worked as CEO since July 2011, takes over immediately for Jeff Rogers.
New York tackles freight rail challenges Since taking office 33 months ago, Gov. Andrew Cuomo has made infrastructure development a key component of his economic agenda, as embodied in the 2012 New York Works initiative passed by the state legislature.
House aviation caucus hits membership milestone
Insurers told containerships need better firefighting "Fire protection systems have not yet realized that cargo is now transported in containers, as it has been for the last 30 or 40 years. Crews do not have the systems to fight fire," warned a German insurance official.
CN considered large crude shipments
Pasha finishes Grays Harbor upgrades
Cargo growth still impressive at BRIC countries
'Cat fines' pose danger to ship engines
Swift: HOS rules reduce utilization 2%
Hapag-Lloyd sells bonds
ITC rejects countervailing duty call for shrimp imports
DHL: Fashion shippers need agile supply chains
Kewill unveils new integrated transportation platform The new platform, called Kewill MOVE, is intended to allow Kewill to tap into a wider base of potential users, including deeper offering for beneficial cargo owner (BCO) verticals, the logistics and trade software developer said.
Rickmers, Apollo jointly invest in containerships
MOL improves on six North America metrics in August
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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