|SEPTEMBER 1, 2011|
- Baltic Dry Index falls for 3rd straight session
The Baltic Dry Index, a measure of commodity-freight costs, fell for a third consecutive session as bookings to ship iron ore from Australia and Brazil declined and stockpiles at Chinese ports reached an all-time high.
- Containers stay at 50-year low as sales growth slows
The container- shipping industry is contending with the longest stretch of near-zero rates in its half-century history on the Asia-to-Europe route, as a capacity glut combines with the slowest growth in trade since 2009.
- APM to build and run US$992m Costa Rican terminal
APM Terminals has won a US$992 million contract to run what it is calling the largest infrastructure project in Costa Rica's history - the new Moin Container Terminal on the Caribbean coast.
|SEPTEMBER 1, 2011|
- China Merchants first half profit increases 102.5pc to US$116 million
- Yang Ming, Wan Hai-Interasia offer weekly direct Japan-Indonesia service
- Customs & Excise Department opens cargo service centre in Hong Kong
- Mumbai's Nhava Sheva container throughput drops 2pc in second-half
- Transpacific rate benchmark jumps 21.5pc as peak surcharges take hold
- CMA CGM includes Cai Mep in Vietnam 3 on intra-Asia service loop
- Neptune Maritime Security says Iran Navy in fight against Somali pirates
- Australia QR National profit gains, but volumes softened by floods
- At 77pc more trade to Hamburg, Baltic growth outpaces Europe's big players
- Bulgaria's state railway BDZ cargo unit privatisation on course
- Okay Airways signs cooperation agreement with Heilongjiang government
- Russia's Prime Minister Vladimir Putin pledges support for aviation sector
- Seattle's maths/tech heavy Aviation High School looks forward to new campus
|AUGUST 31, 2011|
- MOL earns commendation from Cambodian government
Mitsui O.S.K. Lines, Ltd. (MOL) recently cooperated with the non-profit organisation Side By Side International (SBSI) to transport 34 medical vehicles and other equipment to help ...
- Niedersachsen Ports steps up marketing activities
Joachim Birk is the new head of marketing of Niedersachsen Ports GmbH & Co. KG, a Lower Saxony-based port operator. The MBA graduate will in the future oversee the cross-site m...
- USD 200 million road loan to support growth in India's northeast
The Asian Development Bank (ADB) is lending up to USD 200 million to reconstruct roads in northeastern India, which will reduce its isolation and open up badly needed growth and de...
- Mechel leases mainline diesel locomotives
Mechel, one of Russia's leading mining and metals companies, has signed a contract between Mecheltrans Vostok, Sinara-Transport Machines and VTB Leasing for the development, produc...
- Switzerland: Camion Transport now using hybrids
Swiss transport company Camion Transport (CT) has enhanced its fleet of vehicles with a Mercedes-Benz Atego BlueTec Hybrid. It is the first hybrid lorry in general cargo shipments ...
- CN and CNBM Forest Products Trading strike lumber export deal
The Canadian National Railway Company (CN) and China's CNBM Forest Products Trading have reached an agreement to use CN's new lumber transloading facility in Vancouver to increase ...
- New weekly service AC-3 launched
AC-3 - a new regular ocean container line of Maersk - launched a weekly service to the container terminal Vostochnaya Stevedoring Company LLC (a Global Ports group company). The fi...
- Another customs first for Cargoitalia
Italy's Cargoitalia has been approved by the Italian customs authorities to submit electronic T1 forms as of tomorrow, 1 September. The move will enable the airline to cut transit ...
- China Southern Airlines joins Barig
China Southern Airlines is the latest member of the Board of Airline Representatives in Germany (Barig), taking the number of members in the world's biggest national airline associ...
- Dallas welcomes new Air China Cargo service
Dallas/Fort Worth international airport (DFW) last week welcomed the first of what will be three Air China Cargo freighter flights a week, giving DFW additional cargo capacity to S...
- CMA CGM carries more than 4.8 m teu in first six months
CMA CGM, the world's third-largest container shipping company, has reported revenue of USD 7.3 billion for the first six months of 2011, an increase of 8% on the prior-year period....
- Trans-o-Flex boosts capacities in Germany and the Netherlands
The express delivery service Trans-o-Flex is expanding. A new central hub in s'Hertogenbosch and new sites in Bavaria and Brandenburg optimise the service provider's national and i...
- Quehenberger: retail logistics for Libro and Pagro
Austria's services provider Quehenberger Logistics is assuming responsibility for logistics services to 360 Libro and Pagro branches in Austria with immediate effect. In doing so, ...
- Panalpina introduces new intra-Asia service
Basel-based Panalpina explained that there have traditionally been only two main choices for cargo flows between China and Southeast Asia: costly air freight or slower ocean freigh...
|AUGUST 31, 2011|
- American P&I Club manager hires Asian region specialist
- Fearnley's has an App for it
- GulfMark Offshore orders three PSV's from Remontowa
- VOS ballast water treatment systems ordered for Sovcomflot VLCC's
- Bourbon CEO sees offshore service market upswing ahead
- Ingalls Shipbuilding starts fabrication of fourth NSC
- SeaArk Marine suspends acceptance of new boat orders
|AUGUST 31, 2011|
- Washington Ferry System changes adopted by transport commission
- Coast Guard teams with Army to remove bouy from Washington beach
- Crowley presents scholarships to four Alaska Fairbanks students
- Trucking group praises President for asking congress to fund transport
- World Airways works deal to operate Boeing Freighter for Asiana
|AUGUST 31, 2011|
- Can Cosco follow China Shipping to long-term contracts?
Giant Chinese bulk operator's recent charter renegotiation antics will not help build credibility
- Boxship businesses share risky outlook
Ordering the large ships at market peak brings added pressure to secure cargo
- Key to Sinotrans' success lies in stable charter income
Shipowner stands out among Chinese state-affiliated shipping companies for its strong financial position and robust balance sheet
- Bank lending under threat as sovereign debt fears are reignited
Banks are becoming more cautious as cost of insuring debt soars
- Owners cold-shoulder hot lay-ups
Underlying optimism that demand will catch up with supply is keeping ships on the water
- Time to put a stop to creeping localism
The spawn of localism is protectionism, the child of which is a direct attack on world trade
- Shipowners should look to technology before using armed guards
Shipowners should consider anti-piracy technology before resorting to armed guards onboard
- On the tourist trail in Rotterdam's sandpit
Maasvlakte 2, the port expansion project that will provide 1,000 ha of new 'land' taken from the North Sea, is capturing ordinary Dutch people's attention
- Rodopoulos bows out after 36 years at RBS
Fellow veteran Fotis Bratimos takes over responsibilities at Piraeus operation of Greek shipping's leading lender
- VLCC earnings slump to historic lows on Middle East to US trade
Owners continue to ply the route hoping to find a trip back to Asia to boost overall returns
- Two more Greek ferry lines see red
National crisis, fuel hikes and intense competition all blamed for first-half woes
- Oil and shipping players move to restore Libya trade quickly
Nato warns of 'sporadic untargeted firings out to sea' but says they are celebrations
- Capesize rates jump 18% as spot chartering activity surges
Busy transatlantic trade lane gains nearly $4,500 per day, up almost 30%
- MSC bargain panamax boxship charter price shocks market
Rate of $12,000 per day for a 5,000 teu vessel is down 30% on last reported fixtures
- Eurogate throughput jumps 13% in first half
Sluggish Hamburg throughput expected to improve in second half
- APM Terminals sells 25% stake in Xiamen Songyu box facility
Deal with joint venture partner Xiamen Port Holding Group halves APM's interest in $380m Chinese port development
- Stena scales down fast craft service
Line trims Holyhead-Dun Laoghaire operation due to high fuel and maintenance costs
- Höegh and Awilco maintain faith in LNG despite second quarter losses
Demand and rates to stay high, say Norwegian companies
- Boxship orders surge in 2011
But 2007 record unlikely to be broken
- Never mind the flag state
At least for vulnerable vessel types, armed guards are the new normal
- Belships takes shelter from worst of the market storm
Keeping vessels on long-term charters pays off
- Latest figures confirm sharp slowdown in trade growth
OECD statistics reflect the developed nations' big budget deficits and emerging economies' inflation battles
- Turning away from the market
A key legacy of the financial crisis in shipping is that commercial banks wait in the wings while government funding is on the rise
- India opens way to deploying armed anti-piracy guards
New guidelines permit shipowners to engage private maritime security companies after a selection and vetting procedure
- Norwegian Car Carriers sees charter rates rise 11%
Tonnage provider expects year-long wait for stronger market despite improvements
- Container lines prepare to resume Libya calls
Maersk to reinstate service from September 8 while CMA CGM ready to return to Tripoli
- Cosco starts to pay up
Apparent turning point in wide-ranging charter hire spat comes just ahead of fresh wave of arrests, say industry sources
- Eitzen to exit semi-refrigerated gas carrier market
Disposal of ships to investment company B-Gas will raise $53m
- NYK to issue $716m in bonds
Company cites favourable conditions in the bond market for its decision
- US verdict a major setback for foreign seafarers
Court imposes Bahamas arbitration on personal injury case
|AUGUST 31, 2011|
- Wheatstone LNG moves closer in Oz
DREDGING conditions have been imposed on Western Australia's Wheatstone LNG project as part of its environmental approval, IHS World Markets Energy reported today
- Intereuropa investment ruins port's profits
SLOVENIA'S only port operator, Luka Koper, said today it had net profits for 1H 2011 of €3.4M ($5M), a 36% drop against the same period of last year
- Weak dollar hurts Bourbon
FRENCH offshore vessel operator Bourbon today reported first-half net losses of €21.4M ($30.9M) after it was hit by a fall in the value of the dollar
- Bank deal seen as Greek ship finance boon
THE JOINING of two Greek ship finance banks announced this week will create Greek ship finance's fourth-largest lender, a leading sector analyst told Fairplay today
- Shipyard group's losses widen
HONG KONG-listed China Ocean Shipbuilding Industry Group, the owner of Jiangxi Jiangzhou Union Shipbuilding, today announced heavier first-half losses as it reported several disputes with foreign customers
- Bumi Armada profits drop 18%
MALAYSIA's FPSO specialist Bumi Armada said today net profits for 2Q2011 dropped 18% year on year to 61M ringgit ($20.4M), while 1H2011 profits rose 2% y/y to 143.1M ringgit
- Logic breaks down in India's scrapping market
VOLATILITY in the breaking market has turned to confusion after speculation by Indian yards pushed up offers, despite a drop in local prices for steel plate
- COSCO International's profits drop 20%
COSCO International Holdings today said its H1 net profits were HK$277M ($36M), down 20% from HK$346M ($45M) in that period of 2010
- Drybulk port snarls ease
AFTER rising for the past two weeks, congestion in drybulk ports in China, India and Australia is easing off
- Handies dominate box sector's chartering
STRONG intra-Asia box business ensured that Handysizes are dominating chartering activity
- Maybulk profits fall 10%
MALAYSIAN Bulk Carriers said today net profits for 1H2011 dropped 10% year on year to 74.5M ringgit ($25M)
- Supramax bubble bursts
SUPRAMAX bulker rates have risen for two weeks, but brokers told Fairplay today that the sector's bubble has burst
- DryShips reveals earnings miss
GEORGE Economou's DryShips today reported huge quarterly losses on vessel sales and fell far short of Wall Street forecasts
|AUGUST 31, 2011|
- Carriers confident of market upturn in H2 11
- CMHI's H1 11 profits strong on back of Bohai and Yangtze ports
- Lines to return to Libya
- CSAV and CMA CGM expand Gulf Bridge Express service
- APM T signs Moin CT deal
|AUGUST 31, 2011|
- Analysts survey DRYS
DryShips dispute with Cosco takes centre stage as analysts slash earnings estimates while clinging to coveted rating.
- APM invests in Costa Rica
AP Moller-Maersk terminal wing ploughs $992m into Central American container project.
- Sevan sits on the brink
Bankruptcy may be on the horizon for Oslo-listed FPSO owner following staggering $639m second-quarter loss.
- EMGS goes shopping
Oslo-listed seismic survey vessel owner takes on Seatrans duo as it prepares $15.8m acquisition of OHM.
- Latvian loses less
Vitol-controlled tanker owner brings down deficit in first half as it keeps eagle eye on administrative expenses.
- Swire settles spill claims
Small businesses paid, but Queensland state clean-up bill yet to be decided following Pacific Adventurer accident in 2009.
- KPMI profit spikes
Philippines shipyard's repair operations boom in second quarter as earnings surge.
- George close to drill job
DryShips reveals pending West African contract as Cosco dispute is briefly overshadowed.
- Rodopoulos exits RBS
Greek ship finance fixture heads for retirement to be replaced by long-term colleague Fotis Bratimos.
- Colombo clinches ferry order
Sri Lankan shipbuilder seals deal for two new passengerships for India's Lakshadweep islands.
- Genting in the money
Malaysian owner of Star Cruises and NCL said first-half earnings surged as revenue climbed.
- Frontline joyride rolls on
Oslo-listed tanker owner sees its stock enjoy a second day of climbs after its summer slump.
- Nordic's arctic odyssey
Danish owner teams with Sanko to take ice-class panamax bulker along Northern Sea Route to China.
- Awilco starts at a loss
Anders Wilhelmsen-backed LNG newcomer posts red ink in Q2 as it waits for its fleet to become fully operational.
- Currency costs Erria
Danish chemical tanker owner blames forex losses for bigger deficit in first half of 2011.
- Boxship hits whale
HMM's Hyundai Faith arrives in Rotterdam with dead orca wedged on its bow.
|AUGUST 31, 2011|
- 'Fueling' trade
U.S. seeks partnership for drop-in biofuelsThe U.S. Agriculture, Energy and Navy departments on Tuesday issued arequest for informationlaying out the Obama administration's goals, assumptions and tools, and requesting from industry specific ideas ...
- Irene's aftermath
Freight rail feels Irene more than ports Ports and railroads in the direct path of Hurricane Irene last week appear to have dodged major problems, according to damage assessments. ALAN helps with Hurricane Irene relief In the aftermath of Hurricane...
- September Cover Story
- TSA unveils transpacific rate index
June transpacific rates reached a 14-month nadir, according to a new monthly revenue index being published by the Transpacific Stabilization Agreement. The index tracks average revenue per FEU levels against a June 2008 baseline. In June, the inde...
- 2011 large ship orders dwarf 2008-2010
Fifty-two containerships of 10,000 TEUs or larger have been ordered since the beginning of 2011, dwarfing the number of such orders over the last three years, according to research from Braemar's Seascope division. Only 10 such vessels were ordered...
- MCC revises intra-Asia loops
MCC Transport, the intra-Asia specialist carrier of the A.P. Moller - Maersk Group, has made changes to a number of its services connecting various regions within Asia. The line's IA4 service will drop a call in Shanghai and add a second, southboun...
- Delmas splits Med/Africa butterfly
CMA CGM and subsidiary line Delmas have split a butterfly service connecting the Mediterranean and West Africa into two loops, according to American Shipper affiliate ComPair Data. The five-ship service, known as Diams, has been split into two thre...
- CSAV adds ports to Gulf Bridge Express
Chilean containership operator CSAV said it is adding ports to the Gulf Bridge Express service that it operates with CMA CGM between ports in South America, the Caribbean, Mexico and the United States. The service will add calls at Puerto Cabello ...
- Jensen Maritime expands in U.S. South
Jensen Maritime Consultants, a naval architecture and marine engineering firm, has expanded operations in the U.S. South by opening a second office within parent company Crowley Maritime Corp.'s Jacksonville, Fla., headquarters. This new office wi...
- Fla. cargo carrier hit for safety violations
The U.S. Federal Aviation Administration said Monday it plans to fine Capital Cargo International Airlines $298,500 for operating eight Boeing 727 aircraft that were inspected by an unqualified mechanic who signed off on their airworthiness, in vi...
|AUGUST 31, 2011|
- Crude falls on news of increasing supply
'We are following the stock market, and we're supportive on gasoline because of the idea that the storms may shut down some of the refineries,' says research analyst.
- Fujairah prices firm
Supplies said to be tight for prompt dates.
- Double-digit gain in bunker prices
Wide spreads in Rotterdam spot prices.
- Aegean chief sees company gain momentum
President upbeat after company's Q2 result beat analysts' expectations and class action lawsuits were withdrawn.
- Russian oil company to expand international bunker operations
Gazprom Neft to supply in Romania and Baltic states.
- Solar sails could be fitted to bulk carrier
Fuel savings would cover costs 'in two years'.
- September fuel oil arbitrage at 32-month low
But October volumes up in 'famine-to-feast' scenario.
- High-speed ferry service cut as fuel costs bite
'High costs, particularly in terms of fuel costs and gas turbine maintenance, has been a major factor,'says Stena official.
- Mid-week price levels up at Asian ports
Supplies of bunker fuel sufficient at key Asian ports on Wednesday.
- US military issues RFI on drop-in biofuels
Focuses on 'technical, manufacturing and market barriers' for starting a business on drop-in biofuels.
- 'Largest' ice-breaking vessel completes model testing
Iron ore carrier able to travel two times faster with 5% increased fuel efficiency.
- Yang Ming ends first half with losses
Blames losses largely on surging bunker fuel costs.
- Singapore supplier receives 2,000 dwt newbuild bunker tanker
2,000 dwt Sentek 22 currently awaiting harbour craft license to operate at republic.
- Fuel monitoring tool launched
Allows for monitoring an entire fleet's fuel usage through the internet.