Giant containership operators face increased bankruptcy risk Pressures are greater now than at the peak of the financial crisis, says Alix Partners
Dry cargo paper trades surge as the market brightens Signals that the segment is over the worst with traded volumes up 61% so far this year
Benefits to Europe's SOx cheats will outweigh the penalties SeaIntel highlights discrepancies in the ways countries enforce emission-discharge rules
Shipping and logistics faces economic fallout from Ukraine crisis Ports in Turkey and Romania take the strain as Russia's terminals are overstretched
DVB hikes shipping provisions as profits fall Driese is cautiously optimistic for 2014 despite 12% drop in annual pre-tax profit
Growing secondary market for shipping loans Key trend emerges as banks seek to curb their exposure, but investors need to move now or miss the boat
Cosco Pacific posts double-digit volume growth and a slim net profit Free to read: Equity throughput rose 10% to 17.2m teu
How to define and control dry cargo market risk Western Bulk's bespoke risk-modelling aims to beat the market
Pan Ocean names preferred bidder in Heungkuk bank sale Struggling dry bulk operator plans to offload small mutual savings bank bought in 2011
Australia judge frees HNA Group capesize Bulk Peace Free to read: Court lifts arrest order as Shagang Shipping fails to prove China firm is beneficial owner
Behrendt disappointed as Hapag-Lloyd posts net loss German line sees better operating profit but chairman hits out at irrational pricing
Tanker Investments starts trading as a listed company in Oslo New Teekay company is well-placed to acquire secondhand tonnage
Houston Ship Channel partially reopens Commercial vessel traffic has been allowed to re-enter the Houston Ship Channel on a limited basis after an oil spill forced a three-day shutdown of America's busiest energy shipping gateway
Dawei megaport to go ahead The Dawei megaport project is to go ahead but at a slower pace, a Thai government official told IHS Maritime today
New order for Wärtsilä engine The new Wärtsilä low-pressure, 2-stroke, dual-fuel engine (DF) that meets the demand of the market has been endorsed with an important new order
Tanker Investments slips at Oslo trading Shares in Tanker Investments Ltd (TIL), the Teekay group spin-off that invests in second-hand ships, slipped slightly as trading began on the Oslo Stock Exchange this morning
Carnival 2Q forecast disappoints Carnival Corp posted better than expected results for its previous quarter, but its stock has pulled back on a weaker than expected outook for the current quarter
Wärtsilä launches 46DF engine Wärtsilä has introduced the new dual fuel 46DF engine which will target the high-output market segment, including cruise ships and ferries, merchant vessels, LNG carriers and floating storage and regasification units
Ship Traffic Resumes After Houston Oil Spill The Houston Ship Channel was partially reopened to vessel traffic on today, three days after a barge carrying 900,000 gallons of oil collided with a cargo vessel, spilling about 170,000 gallons of oil into the busy ship channel. The Port of Houston, passing on information it received from the Coast Guard,...
Li & Fung Buys China Container Line Li & Fung, the Hong Kong-based consumer goods sourcing, logistics and distribution group, has acquired China Container Line as part of a new restructuring strategy that will focus on sourcing and logistics and move away from global brands. The company, which supplies some of the world's biggest retailers, including Wal-Mart, Target...
Yokohama Container Trade Sinks The Port of Yokohama in Japan saw its container trade with foreign countries plunge 5.2 percent in 2013 from a year earlier to about 2.588 million 20-foot-equivalent units (TEUs), according to preliminary figures released by the Yokohama municipal government. In 2013, the Port of Yokohama exported 1.388 million TEUs of containers,...
Railroads, NITL Clash Over Reciprocal Switching Proposal WASHINGTON - The U.S. rail industry and the nation's largest shipper group today presented to the Surface Transportation Board widely disparate scenarios about what would happen if the rail regulatory agency mandated reciprocal switching for certain railroad customers. The National Industrial Transportation League said the proposed rule change would "inject" a...
Back-to-Work Legislation Targets Vancouver Drayage Drivers An on-strike container-truck driver pulls over his truck in a street during the protest at Canada Place in downtown Vancouver, Canada, March 21, 2014. Photo by Xinhua/Sipa USA/Newscom.The provincial government of British Columbia was making progress today on implementing a back-to-work bill designed to end a crippling truckers' strike...
Anacostia Rail Holdings, Pacific Harbor Line To Get Four Top Safety Awards CHICAGO, March 24, 2014 /PRNewswire/ -- Pacific Harbor Line and its parent company Anacostia Rail Holdings (www.anacostia.com) will receive four top safety awards from the American Short Line and Regional Railroad Association April 24 at its annual meeting in San Diego, Calif. Pacific Harbor Line will receive the President's Award for posting the most hours of injury-free...
APL Logistics VASCOR Automotive invests in high-capacity rakes, gears up new rail-based offering for finished vehicles in India NEW DELHI, India, 25 March 2014: APL Logistics VASCOR Automotive today announced it has placed orders with Kolkata-based freight car maker Texmaco Rail & Engineering for three rail rakes. Each rail rake - equipped with 27 wagons - is capable of carrying more than 300 vehicles. The delivery of the first...
ILA Members Rally Against Waterfront Commission Longshoremen rally against the Waterfront Commission of New York Harbor.Several hundred New York-New Jersey longshoremen halted work for two hours today to cheer union, business and political officials who denounced the Waterfront Commission of New York Harbor and urged repeal of the commission's authority over dockworker hiring. "The Waterfront Commission is...
AirBridgeCargo launches B747F services to Dallas/Fort Worth and increases Chicago operations Russia's largest cargo carrier, AirBridgeCargo Airlines (ABC), is expanding its presence in the U.S. market with the launch of Boeing 747-8 freighter flights linking Dallas/Fort Worth (DFW) with Amsterdam and Moscow. New twice-weekly all-cargo flights from Dallas/Fort Worth will operate on Mondays and Thursdays to Amsterdam Schiphol and Moscow's Sheremetyevo airports. The...
Cheryl Johnson Joins Echo Global Logistics as Senior Vice President of Talent CHICAGO, IL -- (Marketwired) -- 03/25/14 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today the appointment of Cheryl Johnson to the post of Senior Vice President of Talent. Ms. Johnson holds more than 16 years of progressive HR industry experience, which includes several executive-level appointments. Ms....
EVO Trillium, LLC breaks ground on new CNG fueling station at Central Freight Lines terminal in Fort Worth, Texas Tolleson, AZ - EVO CNG and its joint venture partner, TrilliumCNG are pleased to announce the start of construction for a new compressed natural gas (CNG) fueling station located at the Central Freight Lines terminal located at 5200 East Loop 820 South in Fort Worth, Texas. The station will open Spring 2014. The station...
Truckload Carriers Expand Through Acquisitions Schneider National is No. 2 in the JOC's ranking of the Top 25 Truckload Carriers in 2013.When it came to expansion, the 25 largest truckload carriers idled their engines last year, increasing their combined revenue by just 0.6 percent to $25.6 billion. The growth they did enjoy came largely from...
DVB Bank Posts Lower Profit as Shipping Loss Provisions Jump DVB Bank, one of the leading financiers to the international transport sector, today posted a decline of almost 12 percent its net income for 2013 as it made record loss provisions for loans to the crisis-hit maritime industry, including container shipping. The German bank's consolidated net income after taxes fell to...
AlixPartners Warns Some Ocean Carriers Face Bankruptcy Some container lines have taken on so much debt in recent years to order new, more efficient mega-ships that they are now in a struggle for survival. The global container shipping industry as a whole face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010,...
Shippers, Forwarders Increasingly Opt for Index-Linked Contracts, Drewry Says Growing numbers of shippers and freight forwarders are signing index-linked container contracts (ILCCs) with ocean carriers in response to increased market volatility, according to Drewry Maritime Research. The move toward ILCCs appears to be driven mainly by the need to simplify contract negotiations during periods of high freight rate volatility, as...
As seen on TV Monday marked the 25-year anniversary of the oil spill involving the Exxon Valdez, the tanker that crashed into an Alaskan reef and sent over 11 million gallons of crude into Prince William Sound.
Spill sparks suit Kirby Inland Marine of the US and Greek bulker operator Cleopatra Shipping Agency have emerged as the targets of a lawsuit that stems from an oil spill in the Houston Ship Channel.
Tipster passes torch An equity analyst at JP Morgan has transferred research coverage of US-listed shipping stocks to long-time colleague Nishant Mani.
Liner risk rises The outlook may have brightened for some sectors of the shipping industry but stock listed containerlines are at more risk of going out of business today than they were three years ago, a new report says.
Branson in cruise move Billionaire Richard Branson has announced plans to start his own cruise line.
NWS hits back Russia's North-Western Shipping (NWS) has defended its crew pay levels after a row with a Finnish union.
Beware great expectations Jefferies has challenged the consensus view of a dry cargo market recovery warning investors to be aware of heightened expectations.
Fuel burns Carnival Carnival Corp was dragged into the red by fuel derivatives in the first quarter and is warning of the potential for further negative earnings in the next three months.
CMES falls to loss China Merchants Energy Shipping (CMES) has slipped to a loss for 2013 as costs grew.
Epic Gas seals finance Singapore-based gas carrier outfit Epic Gas has secured a loan to help fund its expansion drive.
West takes Euroseas stake West Capital Management has emerged as a major investor in Aristides Pittas-led Euroseas.
De Hoop's African coup Shipyard De Hoop has bagged an order for a multifunctional support vessel from Awaritse Nigeria.
Vosco under scrutiny The shares of Vietnam Ocean Shipping (Vosco) has been placed under supervision after it posted a loss for 2013.
TIL opens in Oslo Teekay spin-off Tanker Investments Ltd (TIL) has had a quiet start to life on the Oslo Stock Exchange as its stock traded down on debut today.
Ukraine port calls pulled Six cruiseship companies are re-routing vessels from Ukraine as Russia continues to strengthen its grip on Crimea.
Fehn likes Latvia Germany's Fehn Ship Management is planning to reflag at least two of its vessels to the Latvian register within months.
Cosco Pacific beats bets Cosco Pacific has turned in a strong set of full year figures.
Tanker crew to be freed Libya has pledged to release the crew of Morning Glory, the tanker that tried to carry crude from a rebel-held Libyan port last month.
Spill strands LPG ships worth $680m Some of the world's largest LPG shipowners have seen vessels held up by the closure of the Houston Ship Channel following an oil spill.
DVB loss provisions rise German lender DVB Bank has made higher provisions for shipping loan losses as 2013 profit fell.
OW Bunker sells out OW Bunker will begin trading on the Nasdaq OMX on Friday after closing its IPO early due to high demand.
Stolt reverses gains Norway's Stolt-Nielsen has agreed to reverse $12.3m in non-cash gains relating to the 2012 acquisitions of two tank terminals.
Blackstone in at Ardmore Private equity power Blackstone has emerged as one of the largest investors in products tanker owner Ardmore Shipping.
Grand Circle adds one Grand Circle Cruise Line has bought a 98-passenger cruiseship for Antarctic operations.
Longhe adds cargoships China's Yangzhou Longhe Shipbuilding has won a deal from Korea for two firm 3,700-dwt general cargoships with an option for a third.
Sula seeks PE cash India's Sula Shipping and Logistics is hoping to raise $150m to fund fleet expansion.
Addax extends FPSO BW Offshore has agreed a long-term contract extension for an FPSO unit deployed off the coast of Nigeria.
Subsea 7 eyes newbuild Subsea 7 is reported to be inviting tenders for the construction of a new $500m high-spec flexible pipelay vessel.
Astomos back at MHI Astomos Energy Corp has returned to Mitsubishi Heavy Industries (MHI) to order an additional VLGC newbuilding.
BG sums up savings An expanded Panama Canal could be a competitive shortcut to the Far East for LNG carriers but shipments through the Arctic passages are likely to be used more opportunistically, according to BG.
China books mini gas ship Chinese ship owner Zhejiang Huaxiang Shipping Co has ordered a small LNG carrier from a domestic shipbuilder.
Sanctions scramble Certain members of the shipping industry were reeling this week in the wake of escalating tensions between the US and Russia, according to Holland & Knight.
CNY clips US volumes The US ports of Los Angeles and Long Beach have both reported lower container volumes for February 2014.
P3 to help carriers manage yield, 3PL executive says Ocean carriers in the new P3 Network will have increased flexibility to optimize the types of vessels deployed on particular service strings, a logistics industry executive said Monday.
Maersk, Rickmers fold U.S.-flag project cargo unit Maersk Line, Limited and Rickmers-Linie (Americas) have ended their joint venture, Maersk-Rickmers U.S. Flag Project Carrier, which had operated two multipurpose ships, and have sold the vessels to Thorco Shipping.
Houston port still closed for oil spill cleanup As of Monday evening, the Port of Houston remained closed due to the continuation of oil cleanup work underway in the shipping channel. Meanwhile, there are 46 outbound vessels and 47 inbound vessels in the queue for transit in the port.
AirBridgeCargo to launch Dallas flights AirBridgeCargo Airlines will launch twice-weekly, Boeing 747-8 freighter service on Monday to Dallas. The flight will link Dallas/Fort Worth International Airport with Amsterdam Schiphol and Moscow Sheremetyevo.
NEWSFLASH: 2014 'bleak' for container carriers This year's outlook for the container shipping industry is "bleak" and publicly-listed global container shipping companies "face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010," according to the global business-advisory firm AlixPartners, which Tuesday released a new study titled "Change on the Horizon: The 2014 Container Shipping Outlook."
UPS invests $200M at Cologne/Bonn airport
Washington Notebook: Corporate giants team up to urge transport investments
Fujairah prices soften, Cape Town remains dry Cape Town suppliers have yet to give replenishment dates.
Houston Ship Channel reopens to barge traffic Waterway remains closed to other vessels.
Gains shortlived as Rotterdam market turns soft Softer pricing takes hold across most markets.
Glycerine event planned for June Workshop to explore alternative marine fuel and get feedback from potential users.
Indian port to see bunker volumes 'more than double' Kochi is seeing a steady increase in bunker sales, according to data obtained by Bunkerworld.
Maersk director: Slow steaming needed in intra-Asia trade Says container lines are destroying their own market by competing too hard, and need to cut costs.
LNG 'rapidly gaining acceptance' as a bunker fuel Pilot projects 'are backed by policy makers.'
OW Bunker: IPO brought forward Strong demand means earlier launch for listing.
Asian bunker prices display mixed picture Prices lacking clear direction across key hubs.
Shipping group cuts yearly losses Bottom line helped by lower bunker costs.
Shipowner buys dual fuel engines for LNG carriers Engine represents 'a very feasible solution' for vessel class, says engine maker.
FMC: Lower fuel consumption a benefit of P3 Alliance US regulators have cleared the P3 alliance.
Houston Ship Channel remains closed on bunker spill Over 90 vessels in queue for transit at the Port of Houston.
Greater blending will create problems with quality, warns ex-IBIA chairman ECA-derived demand for low sulphur material could leave quality issues in its wake, says Simon Neo.
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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