EU imposes Crimea sanctions Names of targets expected to be made public on Tuesday
Navios Acquisition lines up bond to cover VLCC funding Tanker owner opts for private placement of 8.125% notes
TEN gets Statoil green light for four more aframaxes Options lift total project to nine tankers as Greek owner posts reduced loss
No change at the top for US ports But Long Beach is gaining ground on rival Los Angeles
Financial pressure leads to asset sales Carriers sell terminal stakes to generate cash, but is it just a short-term solution?
Ports seize growth opportunity Leading box hubs show creditable rises, but declines elsewhere temper optimism
GPI box volumes figures boosted by NCC Russian operator sees drastic variation in terminals' performance
Long-haul product tanker trades shrouded in uncertainty, says Poten Will new refinery capacity come onstream?
GE Capital aviation arm plans shipping move Up to $2bn could be available, says Liu
Sainty Marine in arbitration with Greek owner over 12 dry bulk newbuilds Chinese shipyard claims it received no payment
Capesize market holds steady after the fall Free to read: Outlook uncertain with Chinese iron ore stocks at record highs and steel mill demand falling
Morning Glory seized by US navy Vessel and crude cargo to be returned to Libyan authorities
Jaccar makes $2.5bn Bourbon bid Offer represents a 19% premium on the stock's weighted average for the past 100 trading days
Enesel gets $380m financing with South Korean ECA support Facility will help pay for five 13,800 teu ships to be delivered on Evergreen charter this year
Scorpio Tankers sale sets tone for CMA Big headlines for Bugbee's company as annual event kicks off
CIMC invests $1bn in new container plant New factory in Dongguan will have 750,000 teu production capacity
ILWU health quandary Obamacare headache for dockworkers' union
Jaccar moves to take majority in Bourbon Jacques de Chateauvieux's Jaccar Holdings is looking to increase its 26% stake in French offshore vessel operator Bourbon to a 50.1% majority
TEN bumps up Statoil-backed Aframax order More new business from Norwegian oil major Statoil has enabled orders for four additional Aframax crude oil tankers, NYSE-listed Tsakos Energy Navigation (TEN) revealed today
Fresh note issue to fetch Navios Acquisition $50M Navios Acquisition has launched a $50M issue of first priority ship mortgage notes, with proceeds earmarked to replace cash recently expended on a VLCC
Jinhui refunded $24M for cancelled order Jinhui Holdings, the parent company of Jinhui Shipping and Transport, today said a ship-owning subsidiary had been refunded $24M from a cancelled newbuilding order
Sainty Marine wins 10 MPV Shenzhen-listed shipbuilder Sainty Marine announced on 15 March that it has inked the contracts with German-owned Zeaborn for the construction of six 12,000dwt multi-purpose vessels plus four options
HIT invests $6.4M in barge cranes Hongkong International Terminals (HIT), the largest container terminal operator in Hong Kong, yesterday said it had put into operation two new barge cranes with an investment of HK$50M ($6.4M)
Perisai buys AHTS vessel from Ezra Malaysian offshore oilfield service provider Perisai Petroleum is to buy an anchor handling tug supply vessel from Singaporean peer Ezra Holdings
Fixing Port Drayage From New York to Norfolk, Va., and Los Angeles-Long Beach to Vancouver, British Columbia, port congestion that spills out into the real world in the form of truck lines, pollution, supply chain delays and occasional violence is a rapidly escalating problem affecting foreign trade. The problem defies conventional explanations -...
Crowley to Carry LNG in Containers Liquefied natural gas soon will become a cargo as well as a fuel for Crowley Maritime. Crowley, which in November ordered two container ships that will use LNG fuel, said its Carib Energy unit has won a multiyear contract to supply LNG in containers to Coca-Cola Puerto Rico Bottlers and Club...
US Containerized Exports Down Again U.S. containerized exports through January 2014. Full-size image U.S. containerized exports slipped 1.2 percent year-over-year in January to 958,708 TEUs, the lowest monthly volume since June 2013 and the lowest level for a January since 2011, according to preliminary figures from PIERS, the Data Division of JOC Group. January was the second straight...
Vancouver Truckers' Strike Hits Shippers TSI DeltaportThe delivery of local imported cargo at Port Metro Vancouver is being interrupted as the standoff between striking truckers and the Canadian government showed no signs of ending today. With the strike entering its third week, and truck traffic at Canada's largest port down to a trickle, marine terminals are...
ABF Freight to Raise Rates 5.4 Percent ABF Freight will raise its general less-than-truckload charges an average of 5.4 percent, starting March 24. The average price hike is 1.1 percentage point higher than the raise announced by UPS Freight today, and 1.5 percentage points higher than the increase posted by FedEx Freight earlier this month. The three LTL...
Rising Freight Rail Premiums Suggest Lack of Competition, Study Says WASHINGTON - A new study suggesting U.S. freight railcar premiums have soared in recent years, implying a lack of competition, comes as Class I railroads and some shippers prepare to square off against the railroads at a major federal hearing later this month. The study - commissioned by the American Chemistry...
New China Forwarding Rules Could Force Carriers to Turn Away Cargo New Chinese forwarding regulations will add costs to shipping freight from China and could force container lines to turn away business. Under the rules that took effect Feb. 15, non-vessel-operating common carriers and forwarders doing business in China must obtain a license from the country's Ministry of Transport. To gain a...
Russia's Global Ports Posts Mixed Results Global Ports, Russia's biggest container terminal operator, boosted profit by 6 percent in 2013, even as revenue declined due to lower oil exports. The London-listed company, which acquired domestic rival NCC for $1.6 billion in December, made a profit of $114 million against $108 million in 2012 on revenue of $480...
FMCSA Releases Electronic Logging Rule A proposed rule that would require truck and bus drivers to replace paper logbooks with electronic devices is "on the street" and available for review online, though the official comment period hasn't begun yet, according to Federal Motor Carrier Safety Administrator Anne S. Ferro. The rule was posted on the FMCSA...
UPS Freight to Hike General Rate Base 4.4 Percent Effective March 31, UPS Freight will raise its less-than-truckload general base rates an average of 4.4 percent, a 0.5 percentage point higher hike than the one sought by the parcel giant's top competitor, FedEx Freight. The rise in spring rates comes as shippers and trucking companies prepare for higher traffic and tighter capacity....
Roadrunner Buys Unitrans International Roadrunner Transportation Systems is expanding its international logistics business by acquiring Unitrans International, a non-asset logistics provider, for $55.5 million. Buying Unitrans gives Roadrunner, which has built a broad portfolio of truckload, less-than-truckload, intermodal and logistics businesses through acquisition, greater global reach. Roadrunner, No. 15 on JOC's list of the Top 25...
China's VAT for Forwarders Still Not Resolved SHANGHAI - Forwarders in China still can't deduct freight payments of a value-added tax, even though Chinese officials provided additional guidelines earlier this year. China's Ministry of Finance tried to clarify its new VAT on logistics services to allow second-tier forwarders, not just those who sign contracts directly with the carriers,...
Genco sees red US bulker owner Genco Shipping & Trading (Genco) has postponed the filing of its annual report.
$500bn burden Looming global environmental regulations could impose more than $500bn in additional costs over the next decade, according to the chairman of the International Chamber of Shipping (ICS).
OSG scraps aframax Bankrupt US tanker operator Overseas Shipholding Group (OSG) appears to have offloaded one of its oldest aframaxes.
NAO readies IPO Nordic American Tankers' offshore offshoot appears to be moving forward with plans to pursue an initial public offering (IPO) in the US.
Ultrabulk grows orderbook Ultrabulk has boosted its newbuilding catalogue with the addition of up to five more vessels.
Princimar branches out US tanker operator Principal Maritime Management (Princimar) has launched a campaign to acquire more than a dozen stainless steel chemical carriers.
Vard debuts in Canada Norwegian offshore shipbuilder Vard has established its first foothold in North America with a new office in Canada.
Ocean Yield scoops $101m Ocean Yield has netted a shade over $100m from a trip to the Oslo bond market.
DBS lifts Vard view DBS Vickers has raised its outlook on Norwegian offshore vessel builder Vard after the company's flurry of recent order wins.
Four held in the UK The Maritime and Coastguard Agency (MCA) detained four ships in February, including the broken-down livestock carrier Express I.
Global Ports earnings sag Global Ports has reported a drop in full year earnings despite container throughput remaining flat.
NNA goes for notes Navios Maritime Acquisition Corporation (NNA) is selling $50m of notes to partly finance a VLCC acquisition.
Tsakos hits the mark Tsakos Energy Navigation has recorded a stronger fourth quarter result in line with Wall Street forecasts.
GSI profit dips Chinese shipbuilder Guangzhou Shipyard International (GSI) reported a slump in earnings last year as orders fell away.
TEN on cloud nine Tsakos Engery Navigation has expanded its aframax tanker order at DSME to nine firm vessels.
Archipelago eyes buys A Philippines ferry company is lining up orders for 30 new freight and passenger vessels by 2018.
Cash harvest spurs STNG Shares in Scorpio Tankers surged on Friday as analysts gave a predictable thumbs-up to the sale of its VLCC fleet which returned a profit of $50m.
Burned crewman rescued A crewman has been evacuated from a Polish cargoship off the US after suffering burns.
Keppel snares trio Keppel Offshore & Marine has wrapped up a batch of contracts worth over $100m.
Topaz stronger again Dubai's Topaz Energy and Marine has revealed much better annual profit for its Nico Middle East unit.
Legal & General in CKN buy Legal & General has upped its interest in Clarksons on the back of strong full-year results from the world's largest shipbroker.
Bulker grounded in Parana A Greek bulker blocked the port of Rosario in Argentina after going aground.
Ocean Yield in bond run Ocean Yield is set to tap the Oslo bond market to refinance an existing bond which still has over two years to run.
USCG probes clash A Wisdom Line cargoship has been damaged in a collision with a barge in the Houston ship channel.
US seizes runaway tanker US navy seals have stormed a tanker which ran a blockade in Libya with a contraband cargo last week.
Second score for STNG Scorpio Tankers is sitting on its second potential windfall in a week after Dorian LPG announced the pricing of its IPO.
Jinhui wins refund Jinhui Shipping & Transportation has won a refund of $24m for a cancelled bulker.
Ro-pax captain cleared The case against a New Zealand ferry captain has been dismissed after a judge ruled there was no risk in taking to sea with a hole in the vessel's hull.
Jaccar moves for Bourbon Bourbon chairman Jacques de Chateauvieux has launched a takeover offer for the French offshore shipping giant.
ABG debt deal in doubt Indian shipbuilder ABG Shipyard has reportedly failed to win the backing of its lenders at its latest restructuring meeting.
Enesel seals bank loan Enesel has agreed a $380m secured term loan facility to help part finance a series of 13,800-teu containership newbuildings.
MISC shares on a roll Investors who blocked the privatisation of MISC look to have been vindicated after the company's share price hit a new high.
Ezra in leaseback deal Ezra Holdings has agreed a sale-and-leaseback deal for an anchor handler with Malaysia's Perisai Petroleum Teknologi.
Yamal first for DSME DSME has secured an order for an LNG carrier from Sovcomflot in a deal worth KRW 340bn ($316m), it announced Monday.
Bulker in Canada prang A supramax bulker has gone aground off Canada's east coast after experiencing main engine failure.
Panama Canal contract addendum signed The international consortium building a wider set of locks for the Panama Canal said it has signed an agreement with the Panama Canal Authority to ensure completion of the mega-infrastructure project, ending a three-month billing dispute.
FAA: Air cargo to increase 4.2% annually The Federal Aviation Administration says air cargo traffic will increase at an annual growth rate of 4.2 percent, doubling by 2034. This increase, the agency noted, will be fueled by steady economic growth, both domestic and worldwide.
Trucking industry to launch image campaign Groups representing various sectors of the trucking industry plan to kick off a broad publicity and education campaign at this week's Mid-America Trucking Show in Louisville, Ky., to enhance trucking's image.
UPS Freight to up rates by 4.4% UPS Freight will impose a general rate increase of 4.4 percent for less-than-truckload shipments starting March 31, following a move by FedEx Freight earlier this month that increased its rates by an average of 3.9 percent on March 31.
St. George expands in Savannah
European cargo theft rose in 2013
New app lets users monitor Panama Canal The Panama Canal Authority has announced the launch of a new app for mobile devices to expand audience participation in the waterway's operations.
FMC reviews 30 OTI license applications
China e-commerce giant Alibaba to list on NYSE
SEALs seize tanker in Mediterranean Sea
Manhattan aids Lennox in supply chain redesign
Terminal declares 'force majeure' as Vancouver trucker strike continues
CORRECTION: Cleveland port's stance on open lake disposal
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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