Crude drop hits barge sector US crude production pullbacks due to lower pricing are now having a significant effect on inland barge operators like Kirby Corp. NYSE-listed Kirby has dropped its full-year profit guidance by 6-9%, citing crude production declines. According to company executives, 100-150 barges have already been
Exmar prepares for arrival of Caribbean FLNG Belgian gas carrier operator Exmar saw net profit dip to USD9.4 million during the first quarter after USD14.2 million in Q1 last year as it waits for the first revenues from Caribbean FLNG to arrive early next year. The company said that construction of the floating liquefaction and storage
ICTSI exits Naha Port International Container Terminal Services Inc (ICTSI) has offloaded its stake in Japan's Naha Port, the Filipino terminal operator said in a stock market disclosure. "ICTSI sold its 60% share in Naha International Container Terminal Inc (NICTI) in Naha in Japan, back to NICTI as treasury shares,"
Shipping warned on Iran action against Maersk Maersk Shipping-related businesses could be at risk while operating in the Persian Gulf, a maritime analyst has warned. His warning comes as the United States has sent navy ships to escort US-flagged vessels through the Strait of Hormuz. Box ship Maersk Tigris was arrested by the Iranian
Yangzijiang weighs up Rongsheng investment But the underlying assets will have to be 'clean' of debt free, says Ren
Asia-north Europe carriers fail with latest price push New all-time lows on Asia-north Europe trade, but Asia-Mediterranean carriers achieve partial success with May GRIs
Euronav tankers unaffected by Yemen conflict so far Country that sits on key shipping trades sees fighting grow worse
There is almost a shortage of suezmaxes As long as demand for ships outweighs supply of ships, this market will stay rewarding for owners
MISC reports 3% drop in net profits Petroleum and LNG shipping show solid performance, but smaller operating fleet in chemical tankers weighs on results
FedEx Pledges $1 Million in Aid to Support Relief of Nepal Earthquake Disaster MEMPHIS, Tenn., May 1, 2015 - FedEx Corp. (NYSE: FDX) has committed approximately $1 million in cash, transportation support and a chartered flight to deliver critical medical aid and supplies to Nepal in the wake of last week's devastating earthquake. The Memphis-based global transportation and logistics company is mobilizing its...
Celadon keeps more drivers, 'seats' more trucks Success in hiring and keeping drivers behind the wheel meant more "seated" tractor-trailers for Celadon Trucking and more capacity for its shipper customers in the first quarter. The Indianapolis-based truckload carrier boosted its average seated tractor count by 21.2 percent to 4,171 tractors in the quarter, the third accounting period in...
Phillipines-based ICTSI sells stake in Japan's Naha terminal Global port terminal operator International Container Terminal Services sold its 60 percent stake in Japan's Naha Internatinal Container Terminal Inc. in Okinawa back to the company. ICTSI's shares were vallued at about $12.6 million, the company said in a stock market disclosure. The terminal operator's 10-year lease agreement with the Naha...
South Korea to add 15 container berths at Busan New Port South Korea will spend $42 million to expand Busan New Port, adding 15 berths to increase the port's annual container handling capacity by 15.8 million twenty-foot equivalent units. The expansion plans include improvements to container terminals, feeder terminals and multipurpose terminals, a liquid natural gas bunkering facility and a logistics park....
New automated Rotterdam container terminal shows how far US lags APM Terminals in Rotterdam officially opened the container terminal of the future on April 24 with the aggressive prediction that Maasvlakte II will improve vessel productivity by 40 percent. However, the value-add of the 212-acre, totally-automated operation is that worker safety and the environment will also be beneficiaries. "Speed, safety and the...
Work restarts at Oakland port after idled day shift The Port of Oakland confirmed Friday that cargo handling will resume on the evening shift after the port was closed for the day shift for a rescheduled labor meeting. Normal operations along the vessels, in the yards and at the gates are scheduled to start at 7 p.m. Pacific time. As...
Scorpio fees waived Scorpio Tankers says a private related party will waive a 1% commission on the purchase of three products tanker newbuildings funded through a recent equity raise.
Golar buys LNG Abuja Golar LNG has purchased a 35-year-old LNG carrier from Nigeria's Bonny Gas Transport.
Carnival revises by $20m Carnival has revised three years' worth of annual results, cutting $20m from the profit booked in the 2014 fiscal year alone.
STNG not aggressive again Scorpio Tankers' return to the sale and purchase market this week is not the start of a new round of aggressive growth at the New York-listed giant, Stifel says.
Setaf bulker aground Kenyan authorities are awaiting high tide to free a French bulker that has been aground since Tuesday.
Goldenport takes JV hit Goldenport Holdings has seen its full year loss double following the winding-up of a joint venture with Glencore.
Scerni: 'no sale' Gruppo Scerni of Italy has denied reports it has sold a pair of tankers in a $70m deal this week.
Quantum Pacific sells LR1 Idan Ofer's Quantum Pacific has reportedly sold a modern products tanker.
Crude output hits high Tankers were busier as OPEC oil supply hit its highest level for more than two years in April.
Ro-pax run revived? A UK council could re-start a ro-pax crossing to Belgium.
Liu left waiting again A key meeting to decide the fate of Por Liu's attempts to take Parakou Tankers public has been pushed back once again to allow time for continued negotiations and evaluation.
Marenave slashes loss German owner Marenave is still suffering from a dire bulker market, but it has knocked $79m off its 2014 loss.
Steel stress We take a look at what was said in the market over the past week.
Navibulgar adding four Bulgarian owner Navibulgar is continuing its fleet expansion by adding up to four bulkers.
TNG making money Newly listed Croatian owner Tankerska Next Generation (TNG) has achieved a profit margin of 52% in the first quarter.
Tanker on block again A Malaysian tanker linked to the bankruptcy of OW Bunker is proving stubbornly hard to sell.
Paragon in $1.2m sale Paragon Shipping has raised $1.2m from the sale of a batch of shares in spin-off Box Ships.
Grupo TMM keeps losing Grupo TMM has only managed to erase a small part of its red ink for the first quarter despite higher revenue.
Top Ships turns a profit Top Ships has recorded a profitable 2014 as it built a fleet of eco products tankers.
Scandlines stronger Baltic ro-pax group Scandlines has logged a "good" result for 2014 as earnings and volumes rose.
Three tonnes on drug tug UK authorities have recovered three tons of cocaine worth more than £500m ($767m) from a Tanzanian tug intercepted off Scotland.
Varun seeks to split India's loss-making Varun Shipping is to split its operations through two separate new listings.
Gunvor earnings down Oil trader Gunvor has seen its 2014 net profit decline 13% to $267m as it was forced to make a number of write downs.
US ships to be escorted The US Navy is set to start escorting US flagged commercial ships through the Strait of Hormuz, according to US media reports.
Tsuneishi inks bulker orders Tsuneishi Shipbuilding has received its first order its newly developed 38,300-dwt TESS38 design log and bulk carrier.
Gazprom opts for Hyundai Hyundai Heavy Industries has secured the contract to build an LNG FSRU for Russian gas company Gazprom.
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