Contract freight rates to surge in 2017, says Drewry Box rates expected to be 20%-40% higher than in 2016, but shippers are advised to sign deals after Chinese New Year when prices subside
EU Council adopts Port Services Regulation Implementation expected from March 2019 but questions over UK participation remain
Eimskip makes third logistics acquisition Mareco purchase is part of company's reefer expansion after Nor Lines and Extarco deals
Milaha launches direct service between Saudi Arabia and India Weekly service to boost agricultural exports
Teekay LNG Partners completes $900m worth of long-term financing Financing is for LNG growth projects through to 2019
Weak Pacific trades outweigh US Gulf strength in supramax markets Spot deal fixed at $20,000 per day from US Gulf to Japan
Nigerian woes drag suezmax earnings down 27% Fixtures from Nigeria sharply down amid unrest, but Opec cuts may prove beneficial
UN Ro-Ro takes over competitor Capacity building to boost links between Turkey and Europe
SITC signs framework charter with affiliate amid fleet expansion Company recently acquired two secondhand 2,524 teu boxships
South Carolina box volumes rise More volume to come as port prepares for 14,000 teu ships
CSSC Holdings expects net losses of up to $408m Company to record $539.5m asset writedown on its total orderbook
Seoul prosecutors level more charges against former DSME head Nam Sang-tae is accused of breach of trust and bribery
Welcome to Europe's LNG infrastructure revolution New era dawns for gas shipping as development gathers pace
Ensco delays drillship delivery from Samsung Heavy Industries Delivery date is postponed to March 31, 2019
Orix Corporation buys $289m in RBS shipping loans Company is looking to ramp up activities in the shipping sector
Cosco Shipping Specialised Carriers' 2016 profit plunges 73.2% Prolonged shipping slump weighs on freight rates and cargo volumes
CIMC expects up to 100% drop in 2016 net profit Weak container market and failed takeover deal take their toll on results
Cosco Shipping Holdings scraps eight boxships Group incurred $93m net loss from vessel disposals
Genting Hong Kong expects net loss up to $550m for 2016 Results will suffer from impairment losses and lack of one-off gains
OSG reaches settlement deal with US exchange authorities Agreement paves the way for the group to emerge from bankruptcy
Lull and scepticism shroud VLCCs Quiet descends as market awaits mid-February cargoes
Is Europe ready for low-sulphur shipping? Bunker suppliers and users still face chicken-and-egg dilemma over low-sulphur fuel
Ulstein inks offshore vessel order and LOI for hybrid ferry Norwegian shipbuilder to build construction support vessel for Acta Marine, while Color Line gears up for largest-ever hybrid.
Trump takes aim at imports from Opec US president signals greater domestic reliance but cargo impact a ways off.
Fred Olsen and Teekay forge joint venture Norwegian renewable energy specialist and New York-listed Teekay Offshore to develop new windfarm vessel design.
Seaman goes missing from BSM boxship Helicopter deployed to find a 39-year-old seafarer that may have gone overboard.
Teekay LNG set for increased payouts Strengthening of balance sheet leads to suggestions former distribution levels can be restored.
Krasnoye picked to build Russian cruiseship Shipbuilder has reportedly won a deal for only the second Russian cruiseship of the post-Soviet era.
Milaha starts landmark India service Qatari owner set to connect Saudi Arabia with the Indian subcontinent with two ships.
GasLog Partners raises $76.8m in share offering Underwriters could add another $11.5m to new capital pool as dropdowns eyed.
Evermore emerges with Scorpio Bulkers stake Eric LeGoff-chaired investment fund has built a holding worth over $30m.
Eimskip buys Mareco for $18m Icelandic line agrees third acquisition since October as it continues expansion.
Genting expects loss of up to $550m Cruiseship group hit by impairment on NCL shares classed as available for sale.
High pollution level found on cruiseship deck French TV show "Thalassa" suggests harmful air particles on ship are 200 times higher than normal.
Chinese yard output dropped 16% in 2016 Shipbuilders delivered fewer vessels while booking less new business last year.
Cosco Corp wins wind farm order Singapore-listed shipbuilder will build a multi-purpose vessel for Everbright International.
China Shenhua orders hopper dredger Bulker and tug group signs up for new vessel at Huangpu Wenchong.
Mokster stretches Aker BP PSV deal Norwegian owner secures another three months of work for vessel in North Sea.
Trump makes dry cargo a safe haven, Arctic says Bulk a better bet short-term given new president's stance on free trade agreements, analysts note.
Hill Dickinson stands alone in Hong Kong Three-year association period ends as law firm wins control of its own destiny.
UN Ro-Ro snaps up Ulusoy fleet Turkish operator raids compatriot for five vessels to boost European exports.
Hunter tipped to snare debut bulker deal Speculation links Saverys-backed special purpose vehicle to four strong VLOC purchase.
Landstar expands footprint in Laredo Landstar System, Inc., an asset-light provider of integrated transportation management solutions, has moved its Laredo, Texas operations to...
Senate Commerce Committee approves nominations of Chao, Ross The Senate Committee on Commerce, Science, and Transportation today approved the nominations of Wilbur Ross as Secretary of Commerce and El...
GATX posts Q4, full-year 2016 results GATX Corporation had a net income of $30.9 million on revenues of $362.1 million for the fourth quarter of 2016, year-over-year declines of...
Executive Moves: FDOT and CenterPoint The Florida Department of Transportation (FDOT) announced Jim Boxold's resignation as secretary, effective Feb. 3, 2017. Boxold, who has s...
ATA: Truck tonnage index drops again in December Domestic truck tonnage fell back again in December 2016, dropping 6.2 percent compared with the previous month, following a revised 8.4 per...
CIMC issues profit warning China International Marine Containers (CIMC), the world's largest manufacturer of shipping containers, issued a profit warning saying its c...
Reuters: RBS confirms sale of $289m in shipping loans to Japanese firm Royal Bank of Scotland has confirmed the sale of $289 million in shipping loans to Japanese financial services firm Orix Corp., according t...
SMC³ launches intra-Mexico LTL benchmark Trucking technology provider SMC³ launched a less-than-truckload (LTL) rate benchmark for shipments traveling point-to-point within Mexico,...
PwC: Logistics M&A activity declines in 2016 despite second half increase Merger and acquisition activity in the transportation and logistics decline in 2016 despite increasing in the second half of the year, acco...
Crude futures rise modestly ahead of weekly US inventory data NYMEX March crude settled 43 cents higher at $53.18/b. ICE March Brent settled up 21 cents at $55.44/b.
CIF NWE HSFO cargoes at nine-month high versus Rotterdam barges on BP demand CIF Northwest European high sulfur fuel oil cargoes -- reflecting Russian Mazut 100 delivered from the Baltics -- have hit a nine-month high versus FOB Rotterdam barges on the back of sustained demand from BP
TANKERS: Iranian VLCCs to call at Rotterdam for first time since sanctions end Two Iranian VLCCs will call into Rotterdam for the first time to deliver close to 4 million barrels of crude next month, after a five-year hiatus
External: Wired Bunkering
CHINA DATA: Dec residual fuel imports rise 3% on month to 1.27 mil mt China's residual fuel imports, comprising fuel oil and petroleum bitumen blend, rose 2.5% from November to 1.27 million mt in December
Singapore MPA fines unlicensed bunker barge operator S$81,000 Bunker barge operator New Ocean Maritime was convicted in the Singapore court and fined S$81,000 ($57,000) for operating without a bunker craft operator license
SOUTH KOREA DATA: Dec oil product exports rise 2% on year to 1.39 mil b/d Bunker C fuel oil exports jumped 74.1% year on year to 1.57 million barrels in December.
SOUTH KOREA DATA: Dec oil demand rises 7% on year to 85.42 mil barrels Bunker-C fuel demand, which has been rising for the past year, fell 4.5% year on year to 4.46 million barrels in December due to weaker demand for power generation.
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