Too squeezed to pay the fees Downturn drives three small players to quit Dutch shipowner group
Stolt-Nielsen warns of excessive orders for chemical carrier Easy access to equity raises new threat of oversupply
Gas and chemical tankers boost Stolt-Nielsen Strong spring for VLGC owners, says chief executive
Nakilat secures $669m to double Maran joint venture's LNG fleet UPDATED: Lloyd's List understands that Nakilat is acquiring a participation in two recently built Maran Gas newbuildings
Problems with refrigerated containers? Perish the thought TT Club's claims executive, Mike Yarwood, outlines the key elements in managing risk and minimising claims
Carrier reliability slips to two-year low SeaIntel flags a 'worrying' dip in box lines' on-time performance
Europe wants mandatory standards for armed guards ISO 28007 will not create a level playing field if member states remain unwilling
Dutch ban on private maritime security firms hurts local owners Hardline stance deters inward investment, says Netelenbos
Saudi Arabia opens new container gateway Low-key start for King Abdullah Port
Jeddah expands to meet demand The only way is up as volume growth feeds investment in infrastructure
Kirby posts record fourth-quarter earnings Tank barge operator books $643m
Brazil aims to boost its presence in offshore shipbuilding Petrobras partner is learning from experienced international players
Members give North and Sunderland Marine merger the go-ahead Sunderland will operate a subsidiary company
China Shipping Development takes the pain and looks to a better 2014 Provisions against losses expected this year are already accounted for in fiscal 2013
Mexico will create new tanker trades Sweeping energy reforms will lead to rising tanker shipments to Europe and Asia
Legal grey area for lines as Brussels opens antitrust proceedings Commission to investigate whether freight rate announcements represent unlawful price signalling
Ballast convention's billion dollar bill Treatment type approval remains a problem
Navios Partners eyes more boxships Bullish owner is in no rush to recharter nine bulkers at 'very early' stage of recovery
Pacific & Atlantic buys one arrested panamax and ponders a second Sea Resolute becomes the largest vessel yet as Pateras returns to bulk
Second collision off Singapore as NYK boxship collides with barge MPA makes progress on clean-up after earlier incident with Cosco boxship and chemtanker
Piracy suspects arrive in Seychelles Five suspected Somali pirates arrived in Seychelles last night.1473145.timg
Nordea staged strong 4Q Nordea says the profitability of its business staged a strong recovery in the final quarter of 2013 and the whole year's operating profit also increased significantly on 2012
Fuel savings for Clipper Group's modified ship Clipper Group, the Copenhagen-based diversified shipping group, said one of its ships has accrued substantial fuel savings after its bulbous bow and rudder bulb were replaced with ones of a new design
Stolt Tankers lift Stolt-Nielsen results Stolt-Nielson's chemical tanker unit helped the company to improve its performance both in the final quarter and the full financial year 2013
Baltic ro-ro and cargo trades remain subdued Ro-ro and general cargo liftings in the lower Baltic region remain subdued, according to the latest throughput figures from Germany's Baltic Sea ports
Fortescue exports up 40%, guidance down Fortescue shipments rose above 40% in 4Q13, but target output fell, according to the miner's report to the Australian Stock exchange today
NZ inspector injured on Korean fishing vessel A New Zealand government inspector has lost his arm after an accident on board the Korean fishing vessel Sur Este 700 south of Bluff
Vantage Drilling cancels drillship order at STX A drillship that US-based Vantage Drilling originally ordered at STX Offshore & Shipbuilding was cancelled, after attempts to transfer the order to Daewoo Shipbuilding & Marine Engineering fell through
Aurora emerges as the new kid on LPG block Yet another newcomer has emerged in LPG shipping
Supramax market still struggling in Asia Supramaxes in Asia continue to struggle amid an ongoing dearth of Indonesian ore cargoes
Kenya buys new offshore patrol vessel Kenya's maritime security will shortly be boosted by a new offshore patrol vessel
MISC profits could improve this year Malaysian shipping company MISC may see better 2014 profits, as earnings from its oil tanker, chemical tanker and LNG businesses are expected to improve, said an analyst today
Cash windfall for Mombasa port Infrastructure upgrades and customs streamlining at the port of Mombasa, Kenya have been made possible by a KSh2.5Bn ($1.5M) grant from the US government
NYK box ship collides with barge in Singapore A box ship has collided with a barge in Singapore this morning, the second such accident in the city-state in less than 24 hours
CSDC forecasts $344M losses for 2013 China Shipping Development (CSDC), a bulk shipping arm of China Shipping Group, predicts it will sink to at least 2.1Bn yuan ($344M) in losses for 2013
Volume, Pricing Gains Boost UPS Freight UPS Freight, the trucking arm of $55.4 billion package giant UPS, increased less-than-truckload revenue 5.3 percent or $125 million in 2013 to $2.5 billion. UPS Freight LTL revenue, 2008-2013 Full-size chart That's a higher growth rate than in 2012, when the fourth-largest LTL carrier as ranked by revenue increased its annual sales by 3.5...
UPS, E-commerce and the 'Deferred' Economy The latest earnings from UPS reveal two trends that might at first seem contradictory: e-commerce is growing in leaps and bounds globally, and customers are choosing to defer delivery on packages to get greater savings. Surely, as the holiday delivery debacle at UPS seemed to show, people ordering online want their...
Maersk to Launch New Reefer Technology Maersk Container Industry has teamed up with Primaira, a Boston-based technology company, to develop a high ozone air cleaning system for refrigerated containers that will help ocean carriers capture more of the $14 billion-a-year market for transporting cut flowers from airlines. The A.P. Moller-Maersk subsidiary said test trials have shown that...
Executive and Congressional Support for Foreign Trade Zones Needed to Fulfill President's Call for Export Growth Daniel GriswoldPresident Obama's 2014 State of the Union address included welcome pledges of support for U.S. manufacturers and exporters. But there was no mention of the ambitious goal the president set in announcing the National Export Initiative just four years ago - to double U.S. exports by 2014. After an...
CP's Harrison Expects Rail Consolidation Within Six Years Canadian Pacific Railway CEO and President E. Hunter Harrison doesn't think the Class I industry will go another five to six year without some consolidation. One path would be a "merger across the Mississippi River," in which the each of the Western U.S-based Class I railroads merges with an Eastern counterpart,...
Despite Holiday Woes, UPS Revenue Rises on Strong Global Volume What did the holiday delivery debacle cost UPS? The company's fourth-quarter earnings results suggests a figure somewhere in the neighborhood of $178 million. Extraordinary increases in volume filled UPS package vans, trucks and planes in the 2013 fourth quarter, but higher costs took a bite out of earnings. Operating profit for the...
A New Take on Alliances I'm not sure the shipping world needs another article on the emergence of apparent super alliances such as the P3 and G6 (or 8). But I do have perspectives I haven't seen in writing, based on being in this industry for 40 years, seeing the industry turn over two or...
YRC, Lenders Work on Refinancing Plan With a $300 million debt-for-equity swap under way, YRC Worldwide is racing to clear one last hurdle to refinance its long-term debt before a February deadline. The company is negotiating with lenders to secure a new $450 million asset-based loan and a new $700 million term loan, for a total refinancing...
TNT Express to Keep Brazil Unit TNT Express today announced it will retain its domestic delivery operation in Brazil following the termination of talks with potential bidders for the business. "There was interest in the business, but ultimately not an acceptable price or conditions," the Dutch logistics and parcel delivery group said. "As a result of the turnaround...
Cargotec's MacGregor completes acquisition of Aker Solutions' mooring and loading systems unit Cargotec's MacGregor has completed the acquisition of the mooring and loading systems unit from Aker Solutions. Cargotec announced the agreement to acquire the unit in October 2013 for an enterprise value of approximately EUR 180 million. The unit will be consolidated into MacGregor's results as of 1 February 2014. "The addition...
Canadian Pacific Looks to Domestic Intermodal for Growth CP locomotive with intermodal trainCanadian Pacific Railway is targeting domestic intermodal as one of the two biggest drivers of growth for the company in the coming years. The railroad said it has already gained market share though new services. "In my previous experiences, you've got to go out there and prove...
Port of NY-NJ Charts a New Course As the Port of New York and New Jersey enters 2014, everyone's trying to prevent a recurrence of 2013. Last year was one to forget for the port's customers. New York-New Jersey's reputation was battered by summer-long operational problems that produced tens of millions of dollars in losses for truckers, terminals...
Transport Corp. of India's Profit Surges Trucking and logistics giant Transport Corp. of India reported its net income in the third fiscal quarter, which ended Dec. 31, 2013, was $2.3 million, jumping 27 percent year-over-year from $1.8 million. Quarterly revenue climbed 4 percent from a year earlier to $82.4 million, the company said in a written statement. TCI's...
Asia-Pacific Air Cargo Demand Fell in 2013 Asia's leading airlines saw international air cargo demand contract last year despite a partial recovery in the final quarter. Preliminary figures from the Association of Asia Pacific Airlines revealed brisk growth in passenger numbers but a 0.6 percent contraction in international air cargo demand despite a 1.1 percent increase in capacity. Andrew...
Truck Efficiency -- Time to Get on Board "For the last eight years, the United States has reduced our carbon emissions more than any other nation on earth." - President Barack Obama, State of the Union, Jan. 2014 You may not have watched the 2014 State of the Union address by President Obama and, if you did, you may...
HSBC Economist: Weak Yen Could Lift Japan's Exports Japanese export volumes could finally surge this year after a disappointing 2013 as manufacturers start to reflect the decline of the yen in more competitive pricing in overseas markets, according to one leading economist. Japanese exports increased 15.3 percent year-on-year in December by value, with major gains seen in the auto,...
Tsakos seeks extension Tsakos Energy Navigation does not appear to have abandoned plans to pen another LNG carrier at Hyundai Heavy Industries in South Korea.
TEN taps Wall Street Tsakos Energy Navigation of Greece has turned to the capital markets for the cash it needs to modernise and expand its fleet of tankers and LNG carriers.
MarAd shares the wealth The US Maritime Administration (MarAd) is ploughing cash into six of the nation's maritime academies.
Watching Capital for growth Dividend-hungry investors will be listening for hints about Capital Product Partners' growth strategy when it reports fourth-quarter earnings.
Finnlines reels in ro-ro Finnlines Plc (Finnlines) has assumed ownership of an ageing ro-ro controlled by its German subsidiary.
ISC locks away cape International Shipholding Corp (ISC) has put its only capsize bulker on a term-charter lasting through the year, executives revealed today.
Exmar in the money Exmar turned in a fourth-quarter profit Thursday thanks in part to the improved performance of its LPG division.
GranEnergia bags cash Brazilian owner GranEnergia has bagged $150m in financing from Mizuho Bank and Itau BBA International for a sophisticated offshore accomodation newbuilding.
Warwick ups DHT stake UK hedge fund Warwick Capital has emerged as a major investor in expanding crude tanker owner DHT Holdings.
Lack of liquidity Croatia's Tankerska Plovidba is going private because not enough of its shares are traded.
Knightsbridge in the frame John Fredriksen's Knightsbridge tankers is rumoured to have added a modern capesize bulker to its fleet.
VLCC rates falling fast VLCC rates are coming down hard this week amid intense competition for cargoes.
Gupta confirmed at SCI Arun Kumar Gupta has been confirmed as the new chairman and managing director of Shipping Corporation of India (SCI).
JMU scoops AHTS K Line-backed OJC orders newbuilding to ABS class at Japanese yard.
Fourth quarter cleansing China Shipping has thrown the kitchen sink into its two listed subsidiaries during the fourth quarter to avoid a rerun of the pressure heaped on China Cosco this year, Barclays Capital says.
Kirby sets record US tank-barge giant Kirby Corporation has posted its best-ever earnings in the fourth quarter.
Big outbreak hits RCL An outbreak of a stomach virus on a Royal Caribbean (RCL) cruiseship has been called the worst for 20 years.
Capital cuts BW LPG stake Capital Group of the US has cashed in some of its chips in Oslo-listed VLGC heavyweight BW LPG.
CSDC digs deep China Shipping Development Co (CSDC) is providing up to $500m to help its Hong Kong unit pay back offshore loans.
Sasebo cuts loss Japan's Sasebo Heavy Industries has reduced its loss in the first nine months, but is predicting a weak finish to the year.
Niini takes a back seat Aker Arctic managing director Mikko Niini is retiring as part of a management reshuffle which sees former Wartsila chief executive Ole Johansson installed as chairman.
Pateras pounces at auction Nikolas Pateras of Pacific & Atlantic has pounced on another panamax bulker as he continues to grow his fleet, this time a ship previously controlled by compatriot owner Alert Shipmanagement.
Tankers spur Stolt A continued recovery at its tanker division has helped Stolt-Nielsen to a stronger than anticipated fourth quarter showing.
Dof sells out Norway's Dof has sold out its NOK 700m ($113.39m) bond issue.
Duty-free in Iran Iran's Ports and Maritime Organisation is to exempt overseas container lines from paying duty on cargoes in a bid to lure them back.
Wallenius takes options Wallenius Lines has declared an option for two additional post-panamax car carrier newbuildings in China.
CSDC's costly charters China Shipping Development Co (CSDC) is taking a $57.36m hit after calculating future losses from chartering in two VLCCs and a capesize.
Yards seal flotel deal Mexican oil company Pemex is spending $407m on two floating accommodation vessels in Spain.
North ties the knot Members of the North of England Club and Sunderland Marine Mutual Insurance (SMMI) have voted in favour of a proposal to merge.
NADL drops on debut North Atlantic Drilling Ltd (NADL) has made a disappointing debut in New York with its share price ending the day down almost 8%.
Boxship bashes barge Singapore has seen a second collision between two ships in less than twenty four hours, it emerged Thursday.
Prang off Singapore A chemical tanker and a containership have collided in waters off Singapore, but pollution is said to be light.
New JaxPort master plan focuses on rail, harbor access The plan includes recommendations for stepped-up efforts to develop direct intermodal rail access and deepen the harbor, as well as relocating some container operations from the Talleyrand Terminal to minimize maintenance dredging.
Panalpina adds product assembly to service offering Panalpina did not disclose the identity of the company, but said it is now managing the assembly of semi-knocked down units for base stations at cell phone towers.
NY/NJ Port Authority considering sale of rail assets The Port Authority of New York and New Jersey confirmed a report that it is "considering all options for the future of ExpressRail, including its future privatization." ExpressRail is the port's on-dock rail facility.
UPS reports fourth-quarter strain due to weather, volume "The increased volume put a strain on our network, causing delays. In response, UPS deployed additional people and equipment, placing a greater emphasis on service than cost," UPS' CEO said.
Arkansas Best ends 2013 with gain
African cargo carrier to launch in February Khuphuka Kings Airways will begin scheduled cargo flights from its base at the King Shaka International Airport in Durban, South Africa, to Lubumbashi, Congo, in February.
Canadian Pacific reports $6 billion record year
Drewry: Air freight rates cool in December
AutoInfo changes name to Sunteck
Maersk-Rickmers to 'flag out' breakbulk ship
C.H. Robinson moves into Austria
Executive moves
N.Y. importer of illegal piranhas 'driven by greed'
More warnings of impact from sulphur regulations Ferry tickets will cost 33% more.
Prices firm in Fujairah Avails for MGO reported tight in Cape Town.
Prices stick to upward trend across Europe Congestion reported at Gibraltar.
Sri Lanka's JHK posts group profit But bunkering business flounders in full year results.
EU Environment Committee under attack over SOx monitoring Committee's position makes 'little sense', says environmental campaign group.
Rotterdam sees another fall in bunker volumes Year-on-year sales down by 4.5%.
Stolt-Nielsen rides stronger tanker market But says, overall, recovery will be slow.
Singapore: 'Tight supply' in February February derivative 180 cSt price heads to three-month high.
Interest in LNG bunkering growing Studies on LNG bunkering need common approach.
Asian bunker prices marginally up Offices in Singapore, Hong Kong, Busan will be closed on Friday.
South Korean bunker sales fall Sales volume has fallen by 16% in 2013.
Ideas on reducing emissions to attract government cash UK offering $7 million for proposals.
Another Singapore vessel collision causes fuel leak 'The two vessels involved in the collision are currently safely anchored and in stable condition', says MPA.
Car carrier orders fuel-saving vessels Ship design marries large capacity with low fuel consumption.
'Good progress' in bunker spill clean up at Singapore No further spillage of bunker fuel from Feihe, says MPA.
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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