Scorpio Tankers confirms sale of product tanker STI Spirit Vessel confirmed sold for $30.2m
Seanergy posts a profit for third quarter Free to read: Owner throws off 'unsustainable' debt burden
Concordia Maritime posts a smaller loss Stena product tanker subsidiary pins its hopes on a product tanker upswing this year
Evergreen formally joins CKYH on Asia-Europe trades Carriers have completed EU self-assessment and are eyeing additional trades
Teekay LNG Partners increases its income Free to read: Long-term contracts insulate firm from declining spot rates, says Evensen
LNG-powered ship refuels from a truck Zeebrugge claims a first and bunker firm chief says such operations will become routine
US gas shippers told safe self-regulation is the key to profits Panellists at Namepa annual conference hail environmental and economic benefits of LNG
Payment worries dent Iranian cargoes' appeal to tanker owners Shipping lines hold back despite six-month relaxation of sanctions
Hanjin Shipping rolls over $168m bonds Cash-strapped carrier extends repayment period by two years
Neptune Lines increases capacity after a record year Mediterranean car carrier operator expands as demand grows
Creditors consider $1.7bn in new aid for STX Offshore & Shipbuilding Troubled yard faces continued liquidity crisis
Bumi Armada reports 12% rise in full-year profits But fourth-quarter profits decline despite 17% rise in revenues
Sesoda Steamship books six handysize bulkers in Japan Taiwanese owner will spend up to $154m on expanding its fleet
NOL narrows yearly losses to $76m But a tough fourth-quarter rates environment erodes some gains
Japan's yards start the year with 26 overseas orders New contracts including 15 bulkers point to recovery for the country's builders
Pan Ocean posts a $1.8bn loss Sales nosedive as fleet is scaled down and cargo volume shrinks
G6 reveals changes to port rotations to support its expansion plans Alliance plans new services on transatlantic and Asia-US west coast trade lanes
Panama Canal contractors go back to work on third set of locks But negotiations continue over $1.6bn of project cost overruns
Maersk confirms two private security workers' deaths on Maersk Alabama Carrier and Trident Group say incident on Captain Phillips ship unrelated to operations
G6 Alliance responds to FMC Washington has 45 days to review expansion plans
APMT sells half its stake in Port Elizabeth Canadian private equity player Brookfield Asset Management has bought 50% of APM Terminals' (APMT) container operation in Port Elizabeth, New Jersey
Mystery surrounds Maersk Alabama deaths Two security guards were found dead onboard the Maersk Alabama while at berth in Port Victoria, Seychelles, Maersk Line Limited (MLL) has confirmed
NY terminal disruptions could delay cargo Containers shipped to the US since the Chinese New Year holiday are at risk if steps are not taken to alleviate congestion at New York box terminals, a US retailer group has warned
Teekay's tanker outlook improves Parent Teekay Corp and daughter Teekay Tankers have reported strong quarterly results, buoyed by recovering rates
Shipping Perishables Coast-to-Coast: Are You Following Best Practices? According to ChainLink Research, spoilage and waste in the food supply chain account for a loss of 23 to 25 percent of produce post-harvest. Avoiding such costly waste in the coast-to-coast shipping of perishables requires that the cold chain be kept intact and best practices be observed to keep products...
G6 Unveils Port Rotations for Asia-North American West Coast, Trans-Atlantic Services The six members of the G6 - Hapag-Lloyd, NYK Line, OOCL, Hyundai Merchant Marine, APL and Mitsui O.S.K. Lines - today released details on the port rotations of its proposed service expansion to its Asia-west coast of North America and trans-Atlantic trade lanes, which were unveiled in December 2013. The 17...
Executive Order Shines Spotlight on US Trade Automation WASHINGTON - U.S. Customs and Border Protection said President Obama's signing of an executive order to streamline cargo processes creates a roadmap for completion, puts a spotlight on the importance of trade and raises awareness of the need for other federal agencies to help speed up freight clearance. Aboard Air Force...
Evergreen Joins CKYH Alliance Evergreen Line and the four members of the CKYH Alliance have agreed in principle to form a new alliance that will share ships on trades between Asia and North Europe and the Mediterranean. The CKYHE alliance will comprise Cosco, "K" Line, Yang Ming, Hanjin and Evergeen. It plans to begin operations...
Spot Market Truck Rates Riding High on Storm Front Despite a drop in spot market load volume, continuing winter storms kept the national average dry van spot truckload rate at $1.97 per mile for the week ending Feb. 15, a rate 21 cents higher than a year ago, according to DAT Trendlines. "Challenging weather and traffic conditions in much of...
Market Share Shifts From US West Coast to East Expected to Be 'Slow and Small' U.S. West Coast ports will lose some container volume to East and Gulf Coast ports once the Panama Canal is enlarged, but there is no need to panic as long as they remain reliable and efficient gateways for U.S. trade with Asia, Tioga Group principal Dan Smith said yesterday. Any loss...
NOL's Loss Climbs on Overcapacity and Lower Rates NOL Group posted a fourth quarter loss of $137 million, which was $46 million bigger than the $91 million loss in the same period last year, as revenue from its container shipping business was hit by overcapacity and falling freight rates. The Singapore-based shipping and logistics group reported a full-year loss...
Container Traffic Flat at LA-LB, But Strong Growth at Savannah, Charleston Container ship entering the Port of Savannah.The Los Angeles-Long Beach port complex got off to a "flat" start in 2014, in contrast with the "strong" numbers posted by the ports of Savannah and Charleston in January. Ports of Los Angeles and Long Beach The Los Angeles-Long Beach port complex's total container volume...
APM Terminals in Joint Venture for NY-NJ Port Terminal APM Terminals has formed a 50-50 joint venture with infrastructure investor Brookfield Asset Management for ownership of APMT's Port Elizabeth, N.J., container terminal at the Port of New York and New Jersey. The joint venture is subject to approval by the Port Authority of New York and New Jersey, which leases...
GLP Raises Brazilian Logistics Fund to $1.1 Billion Fresh from a major investment in China, Global Logistics Properties is adding $230 million to a Brazilian investment fund. The fund now has $1.1 billion in capital. GLP Brazil Development Partners I was formed in November 2012 to acquire a portfolio of six development projects in Brazil, Singapore-based GLP said. The additional...
STB Raises Concerns With 'Deterioration' of BNSF Service WASHINGTON - The U.S. Surface Transportation Board told BNSF Railway that it's increasingly concerned about the "deterioration in service" shippers have experienced on the Class I railroad's network. The rail regulatory agency said it has heard concerns about delayed cars, a lack of sufficient locomotive power, decreased train speeds and longer...
Panama Canal Settlement Leaves Technical Problems Unresolved The settlement of the dispute over cost overruns between the Panama Canal Authority and the engineering consortium building its new set of larger locks leaves unanswered the questions of when the $5.25 billion expansion project will be completed and how much more it will cost in the end. Lingering technical problems...
European Exports to Middle East, Indian Subcontinent Decline In 2013, container shipments from Europe to the Middle East and the Indian subcontinent declined 3 percent year-over-year to 3.0 million TEUs, while shipments in the opposite direction - from the Middle East and the Indian subcontinent to Europe - rose 6 percent to 2.2 million TEUs, according to data from Container...
More than 7,200 UPS Drivers Have Steered Clear of Accidents for a Quarter Century UPS (NYSE: UPS) today announced the induction of 1,519 drivers into its elite "Circle of Honor," raising to 7,221 the number of drivers who have avoided accidents for 25 years or more. The number of new inductees is the largest for any single year in the company's history and includes 42...
GENCO Promotes Two Key Members of Leadership Team to New Positions PITTSBURGH, Pa. - February 19, 2014 - GENCO, the leader in delivering product lifecycle logistics® solutions, announced today two leadership promotions. Tom Perry has been promoted to chief technology officer and Mike Simpson has been promoted to president of GENCO's Retail Logistics (GRL) business unit. As chief technology officer, Perry will lead GENCO's IT organization and newly established R&D/Robotics team....
CEVA announces expanded market presence in Panama City, Panama Panama City, Panama, 19 February, 2014 - CEVA Logistics, one of the world's leading supply chain management companies, today announced that it is expanding its Panama City operation to one of the newest, largest logistic parks in Panama this month. The new warehouse has 4,400 sq m of space with capacity...
Airbus Defence and Space selects Kuehne + Nagel as exclusive contract logistics provider in Poland Poznan / Poland, February 19, 2014 - The new four-year contract strengthens Kuehne + Nagel's global partnership with the Airbus Group and marks a further strategic step into the Polish aerospace and aviation logistics market. In the scope of the contract Kuehne + Nagel manages a warehouse, storing components and spare...
Wallenius Wilhelmsen Logistics earns recognition as a John Deere "Partner-level Supplier" February 19, 2014 / Woodcliff Lake, New Jersey - Wallenius Wilhelmsen Logistics (WWL) has earned recognition as a Partner-level supplier for 2013 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company's highest supplier rating. The Norway-based company was selected for the honor in recognition of its dedication...
ESEA stuns Street Euroseas turned in a staggering fourth-quarter deficit Thursday but the red ink does not appear to have derailed the Greek bulker and containership owner's fleet expansion campaign.
DLNG toasts success Greece's Dynagas LNG Partners is well positioned to expand its fleet of LNG carriers after turning in a fourth-quarter profit, management told investors Thursday.
Period deals pay Alpha Tankers & Freighters of Greece appears to have lined up a lucrative fixture for one of its capesize bulkers.
HHL sails to Sao Paulo Hansa Heavy Lift has opened an office in Brazil under a broader bid to expand its global footprint.
The ides of March An article published by the New York Post is fuelling growing speculation that Genco Shipping & Trading (Genco) plans to file for bankruptcy in the US.
TIL tied to aframax Teekay is being strongly linked with the purchase of an aframax tanker which attracted a clamour of interest after a Mitsui OSK Lines (MOL) subsidiary hoisted a for sale sign on its deck.
Boskalis bags Baltic Ace job Royal Boskalis Westminster has claimed the contract to salvage the Ray Carriers vessel Baltic Ace from the North Sea.
Scorpio sheds a third Scorpio Tankers has continued to offload its older vessels with the sale of a long-range-two (LR2) tanker.
TGP sees strong finish Teekay LNG Partners (TGP) reported a strong showing in the final quarter of last year as it emerged unscathed from the recent decline in LNG spot rates thanks to its fleet being tied up on long-term deals.
StealthGas just short StealthGas has reported a fourth quarter profit which came in two cents short of what the market had hoped for.
Concordia ends on a low Concordia Maritime's new CEO was disappointed with the company's finish to 2013 but is bullish about its prospects.
Teekay tops bets Teekay Corp today surprised Wall Street with a return to adjusted profitability in the fourth quarter.
Spot boost for TNK US-listed Teekay Tankers has returned to profit in the fourth quarter thanks to better aframax and suezmax spot rates.
Seanergy in the black Greek bulker owner Seanergy has posted a profit in its delayed third quarter report.
Nobu Su faces $46m claim A claim of approaching $46m is being made against Nobu Su and his troubled Today Makes Tomorrow (TMT) group by a company linked to Polys Haji-Ioannou's shipping empire.
Boxes getting better Taiwan's Yang Ming is expecting gradual improvements in container shipping throughout 2014.
Fredriksen in TUI sale John Fredriksen has collected over EUR 500m from the sale of much of his investment in German travel group TUI.
Samudera to see red Indonesia's Samudera Shipping Line has warned investors to expect a loss when it cards its full year financial results next week.
Lock deadlock broken? Work on the Panama Canal expansion is set to resume following a two week stoppage over a payment dispute.
More cash for STX Creditors are to provide more cash to troubled STX Offshore & Shipbuilding of Korea.
Condor settles strike Condor Ferries will be back in action between the Channel Islands and France after a crew called off their strike.
Gas boost for yard giants LNG newbuilding orders driven by the US shale gas story will roll in at South Korea's main shipyards in 2014, Daishin Securities believes.
Tanker on the block Gibraltar's admiralty court is selling off a veteran Italian chemical tanker.
Siem ends on a high Siem Offshore cut its loss in the fourth quarter as revenue grew across its three main vessel segments.
NOL ends in the red Red ink running to almost $140m in the fourth quarter dragged Neptune Orient Lines to a loss in 2013.
Sinokor linked to VLCC South Korean owner Sinokor Merchant Marine continues to boost its fleet and is now linked to a second VLCC purchase within three months.
HHI raising $465m Korea's Hyundai Heavy Industries (HHI) is selling two bond issues worth KRW 500bn ($465m).
Spur for Sinotrans Expectations of improved earnings, timely fleet growth and an undervalued stock have led Barclays Capital to upgrade Sinotrans Shipping.
CKYH adds E The CKYH group of Asian container lines has brought in Evergreen as a fifth member to boost efficiency.
Pan Ocean reveals huge loss Restructured Korean bulker owner Pan Ocean has announced a loss of $1.76bn for 2013 after scaling down its fleet.
Subsea 7's charter double Oslo-listed Subsea 7 has won more offshore work for Petrobras in tandem with Sealion Shipping.
Japan rides dry demand Japanese shipyards have made a strong start to 2014 with orders placed in January more than double those of a year ago.
Vroon back at Cosco Vroon has confirmed that it is behind the recent order for two livestock carriers at Cosco Guangdong Shipyard.
Ezion ends on high Ezion Holdings has reported a blockbuster ending to the year with its fourth quarter net profit nearly doubling.
HOS doubles earnings Hornbeck Offshore Services has seen its fourth quarter net profit almost double compared to a year ago.
Let's rock The State of New Jersey has chartered a US-flagged tug and barge to aid efforts aimed at replenishing supplies of rock salt that were depleted during a series of brutal winter storms.
CYKH-Evergreen Alliance announced for Asia-Europe trade Cosco, "K" Line, Yang Ming, Hanjin and Evergreen have confirmed that the five parties have agreed in principle to establish a shipping alliance, but only on the trades between Asia and Europe, including the Mediterranean region.
New Catapult product aimed at mapping carrier/forwarder RFQ
G6 carriers announce rotations for 17 services to North America The G6 Alliance today announced the 17 port rotations - 12 for the Asia-North America West Coast trade and five in the transatlantic - that it plans to start operating in April.
Panama Canal logjam broken, work to proceed on locks project The Panama Canal Authority said late Wednesday that it has reached an agreement with the international consortium building a new set of locks for its expansion project to resume construction Thursday.
White House announces push for more fuel-efficient trucks President Barack Obama on Tuesday directed the Environmental Protection Agency and the Department of Transportation to establish the next tier of fuel efficiency and carbon emission-reduction standards for trucks within a year.
NOL records smaller loss in 2013 NOL, the parent company of the container liner company APL, said it had a loss of $76 million in 2013, smaller than the $412 million loss it experienced in 2012. Revenue was $8.83 billion in 2013, 7-percent less than in 2012.
RILA letter to NY/NJ port highlights retailer concerns on truck congestion The letter outlines four initiatives the Port Authority and other stakeholders can pursue to alleviate the backlog and restore productivity to port operations.
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