Scorched ship docked THE SCORCHED box ship Hansa Brandenburg has docked in Port Louis for repairs, the Mauritius Ports Authority told Fairplay today
Chinese steel stocks - and prices - are normalising CHINA'S steel stockpiles and steel prices continuing to normalise and finally nearing last year's levels, said drybulk consultancy Commodore Research today
Top returns to black EVANGELOS Pistiolis-led Top Ships today reported a return to profitability in its first half after two years of persistent losses
Uljanik yard's losses losses multiply in 1H CROATIA'S Uljanik shipyard said it had net losses of 104.97M kuna ($18.55M) for 1H13, against net profits of 4.7M kuna year on year
NY delays continue SEVERE congestion continues to plague container terminals at New York-area ports with no sign of relief until September, according to one of the carriers affected
Belships issue completed BELSHIPS, the Oslo-listed bulker group, has completed a rights issue unveiled in June, but the company could sell the intended amount of shares with the help of its principal shareholder
Korea Line trims losses KOREA Line reported losses of 5.937Bn won ($5.3M) for 2Q13, narrowing a 25.2Bn won deficit in 2Q12
GPPL's profits rise 124% BIG GAINS in box and bulk cargo helped APM Terminals-run Gujarat Pipavav Port to post a 124% year-on-year surge in net profits today, for its April-June quarter
China COSCO losses expected to drop in 1H CHINA COSCO said today it expects to cut losses by 70-85% year on year in 1H13
DSV's profits slip LEADING Danish freight forwarder DSV's profits slipped in 1H13 because of tough competition for cargo and increased investments
Revenues nearly triple for Mauritius Ports MAURITIUS Ports Authority, which runs Port Louis, has said it had a net surplus of 607.2M rupees ($19.5M) in FY12
CNOOC expands discharge capacity of LNG CNOOC said today its LNG discharging capacity will increase to 30M tonnes per year in 2014, 67% more than its current level
VLGC rates slip VLGC rates have slipped because of the fall in vessel availability in the Persian Gulf, despite expectations of a cargo contango
S-Oil seeks VLCC for 5 years SOUTH Korean refiner S-Oil is seeking a VLCC for five years, brokers told Fairplay today
Analysts bullish on HHI HYUNDAI HI has received a 'buy' call from stock analysts despite having its 2Q13 profits halved year on year
ANA Group Slips Into the Red Japan's ANA Holdings Inc., the parent firm of All Nippon Airways Co., said on July 30 that it slipped into the red in the first quarter of fiscal 2013, which started on April 1, despite a jump in international cargo revenue. ANA Holdings suffered a net loss of 6.643 billion yen...
DHL to Provide Services in Australia for Brother International DHL has won a six-year contract to provide logistics services in Australia for Japan-based Brother International. Valid until July 2019, the deal will see DHL's supply chain arm provide warehousing and distribution for BI's print, labeling and sewing products....
Maher Says It's 'Turned the Corner' at NY-NJ Maher Terminals said it "has turned the corner" on the troubled implementation of a new operating system, and that the Port of New York and New Jersey's largest container terminal will be ready when its volume returns to normal levels. Since Maher encountered difficulties with a new Navis terminal operating system...
Baltimore Port Gains Market Share on NY-NJ The Port of Baltimore is gaining market share on its big rival to the north, the Port of New York and New Jersey. The gains are coming from its campaign to educate beneficial cargo owners in the Baltimore-Washington area about the cost benefits of importing through Baltimore rather than from New...
Deringer Looks to the Future of Regulatory Compliance CHELMSFORD, MA--(Marketwired - July 30, 2013) - A.N. Deringer, Inc., the largest, privately held Customs broker in the U.S. and industry leader in the realm of Customs compliance has entered into an agreement with Kewill, Ltd. to transition to Kewill Customs. Kewill Customs, a next generation customs brokerage solution offers enhanced visibility,...
Danaos's Profit Soared in Second Quarter Danaos reported its net income in the second quarter of 2013 was $19.5 million, jumping 117.9 percent from $9.0 million in the second quarter of 2012. Quarterly revenue for the Greek container ship owner was $146.6 million, basically flat compared with the same period last year. Despite the "ongoing challenging state" of...
US Steel Imports Dropped 13 Percent in June U.S. steel imports in June totaled 2.441 million tons, falling 11 percent from $2.838 million tons (revised) in May 2013 and 13 percent from June 2012, according to government reporting. The preliminary reporting data showed that imported semi-finished products in June decreased 21.1 percent year-over-year, from 616,000 tons in 2012 to...
Celadon's Profit Down, Revenue Up in Second Quarter Celadon Group reported its net income decreased 20.0 percent to $7.2 million in the second quarter of 2013, from $9.0 million in the same quarter last year. However, quarterly revenue for the North American motor carrier, No. 35 on JOC's 2012 list of the Top 50 Trucking Companies, was $162.6 million,...
JOC Truckload Capacity Index Rises to 81.3 he Journal of Commerce Truckload Capacity Index rose 1.6 points to 81.3 in the second quarter, its highest reading in a year, as freight demand increased. JOC Truckload Capacity Index Full-size image The index had been flat at 79.7, its historic low, for the previous two quarters, indicating truckload capacity levels were 20.3...
Outbound NJ Lanes Pull Down Intermodal Rate Index East-West spot rates, week of July 29, 2013 Full-size image The overall index of U.S. intermodal rates slipped in the week of July 29, mostly due to a drop in the East-West directional index, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The...
Air Freight Market Demand Inched Up in June The International Air Transport Association reported air freight demand increased 1.2 percent year-over-year in June, compared with a 0.9 percent year-over-year gain in May and a 0.1 percent increase in the first half of the year. Although the strongest improvements in business confidence occurred in some developed economies, overall business confidence,...
FDA Proposes Rules to Boost Oversight of Imported Foods The U.S. Food and Drug Administration has issued two proposed rules under the Food Safety Modernization Act aimed at strengthening assurances that imported food meets the same safety standards as food produced domestically. Under the proposed rule for foreign supplier verification programs, importers would need to verify that their suppliers are...
Report: North American Wood Pellet Exports Continue to Rise Wood pellet exports from North America were up more than 50 percent year-over-year in the first quarter of 2013, with the U.K. as the major export destination, according to the North American Wood Fiber Review. Pellet exports from North America in the first quarter reached a new record of more than...
While you were out... Scorpio Tankers has returned to Wall Street for the cash it needs to fund its latest growth spurt.
TOPS back in business Top Ships caught Wall Street off guard Tuesday after reporting a profit that marked the end of nearly two years of consecutive losses.
Wounded warrior A handymax bulker controlled by embattled Greek businessman Victor Restis has landed in detention in the US.
FSRU Toscana arrives An LNG floating storage and regasification unit (FSRU) has finally arrived off the coast of Tuscany, Italy.
Amur unwanted An attempt by the Russian government to sell a stake in Amur Shipping has failed again.
Samudera slides to red Indonesia owner Samudera Shipping Line has fallen to a second quarter loss after seeing a slump across all of its divisions.
Diana Shipping in the red Diana Shipping has been hit by falling time-charter rates as it slumped to a loss in the second quarter.
Burned boxship berths Leonhardt & Blumberg's burned boxship Hansa Brandenburg has made it safely to Port Louis in Mauritius.
Mermaid wins subsea work Mermaid Maritime's Middle East subsea subsidiary has notched up $40m worth of contracts.
Jiangnan sees first half slump CSSC Jiangnan Heavy Industry has fallen to an expected loss in the first half of the year following a slump in ship orders.
Korean cash in line Scorpio Tankers is in discussions with Korean export credit agencies for the funding of some of its product tanker newbuildings, executives have confirmed.
Cosco to lose less Under-pressure owner China Cosco Holdings Co (CCHC) is forecasting a big drop in its first-half loss as it fights to make an annual profit.
KLC loss shrinks Bankrupt Korea Line Corp (KLC) has posted a reduced loss for the second quarter despite lower revenues.
MR price not right Values attached to MR tankers by shipbrokers are lagging the real price level in the market, Scorpio says.
Shreyas profit chopped India's Shreyas Shipping & Logistics is launching two new services connecting the east and west of the country.
Solvtrans ship delayed Solvtrans is to be compensated by Spain's Astilleros Zamakona shipyard for the late delivery of a new well-boat.
NS United bounces back Japanese bulker company NS United has turned around last year's first quarter loss as revenue improved.
"Spill ship" named The Queensland government has pinned the blame for an oil slick at Brisbane on a Neptune Pacific Line (NPL) multipurpose.
ALLG deeper in the red All Leisure Group experienced a deeper first half loss despite its cruise business improving.
Kyoei profit cut back Japan's Kyoei Tanker has logged a lower profit in the first quarter despite revenue rising.
BaFin bearish on banks German banks are likely to make more loan-loss provisions for their EUR 100bn ($133bn) exposure to shipping.
Swiber prices sukuk Swiber Holdings looks set to raise around SGD150m ($120m) with the launch of its debut Islamic bond (sukuk) issue.
MES starts strongly Japan's Mitsui Engineering & Shipbuilding (MES) has more than doubled its net earnings in the first quarter.
Kuok eyes POSH IPO Robert Kuok, Malaysia's richest man, is said to be planning an IPO for offshore marine services arm POSH Semco.
MOL back in black Mitsui OSK Lines (MOL) has made a return to profit in the first quarter of the new fiscal year, media reports from Japan suggest.
SMM wins PPL control Sembcorp Marine has gained complete control of the board of majority owned subsidiary PPL Shipyard following a legal ruling.
Pirate gang threat Security experts have warned that an organised criminal gang is preying on shipping off Bintan Island, Indonesia.
DAC paints grim forecast A surplus in global shipbuilding capacity and the low cost of newbuildings continue to pose a threat to the timing of a recovery in the containership market, according to Danaos chief executive John Coustas.
Seaspan signs $550 million containership order The vessel owner did not provide details on the number of ships, their size, shipyard or the prospective charterer other than to say it "expects to sign a long-term charters with one of the liner majors shortly."
Hapag-Lloyd joins Maersk in TP rate hike The German liner carrier, in step with Danish competitor, said Monday it plans to raise eastbound transpacific rates by $400 per 40-foot container to the U.S. West Coast and $600 per FEU to the East Coast starting Sept. 1.
EU, China solar panel trade battle subsides Chinese solar panel suppliers on Saturday agreed to a voluntary price undertaking where they commit to stop dumping their products on the European market and keep prices above a certain floor, thus avoiding EU antidumping duties.
IATA: Cargo demand rises slightly
Trans-Pacific Parntership important to Maine exporters
Old Dominion opens new Texas service center
AIT expands to Omaha
HP to use GT Nexus for global visibility GT Nexus said it will connect the Hewlett-Packard network of logistics providers and suppliers across four continents to a single source of supply chain information about orders, inventory, shipments and documents.
Washington Notebook: ACE document imaging pilot enters phase 2
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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