|JUNE 3, 2011|
- Baltic sea index stays positive, outlook softer
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose for a ninth session on Wednesday buoyed by iron ore cargo business on the larger capesize vessels.
- Oil tanker glut falls to two-month low with speed cuts
A surplus of supertankers competing for Middle East oil shrank on Wednesday to its lowest level in more than two months - a sign that reduced sailing speeds may be affecting ship supply in the world's largest cargo-loading region.
|JUNE 3, 2011|
- Manila's ICTSI to acquire Singapore's Portek International
- US west coast imports up 5pc, but exports lead growth with 8pc rise
- Drewry: Box shortage to ease this year after last year's drought
- DP World delighted to be listed on London Stock Exchange
- Horizon Lines struggles to stave off delisting from NYSE
- Indonesia's Meratus Line acquires its biggest ship - 1,404 TEU
- Damco unveils packaging optimisation to cut supply chain costs
- Dubai Trade and NAFL logistics association consider alliance
- Third Hong Kong runway needed, says Cathay's new chief executive
- Finnair comes to Changi to offer daily Singapore-Helsinki flights
- Tianjin plans to build world-class aviation industrial base
|JUNE 2, 2011|
- Aegis Group's net profit jumps 48 pc in Q4
- India in control of piracy situation,assures Naval chief
- Urmila Project Services consolidates its expertise in multimodal heavy transport
- Mundra Port completes acquisition of Abbot Point X 50 Coal Terminal in Australia
- Vishal Sharma is new CEO of Gateway Rail Freight
- Decision to split MahaMumbai SEZ put off
- Economic growth slows in Q4, improves slightly in fiscal
- Exports maintain momentum in April, grow 34.4 per cent
- India to emerge as 3rd largest economy by 2030
- India-Iran oil payment talks to go on
- Net direct tax collections down to Rs 4,000 cr. in April 11
|JUNE 2, 2011|
- Meyer Werft floats out Celebrity Silhouette
- Cat Financial provides construction loan for Aker Philly tankers
- Harley Marine Services receives environmental award
|JUNE 2, 2011|
- Asiana adding Portland Airport to list of all-cargo destinations
- Horizon Lines note holders Ok new financial structure scheme
- Port of Everett bringing back Working Waterfront Harbor Tours
- Port of Seattle warns drivers of delays due to transport projects
- Lynden International taps Ogle as Asia Pacific development boss
|JUNE 2, 2011|
- Europe-US gasoline MR rate rise points to market bottom
But some brokers are anticipating further drops later this month
- Beijing set to ramp up imports for electricity
Dry bulk carriers could benefit from a surge in cargo demand during the northern hemisphere summer
- SCF and Kazakhstan in oil transport dicussions
Sergey Frank met Kazakh prime minister Karim Masinov to outline shipping services for country's oil exports
- Chinese gasoil demand set for summer spike as power shortages kick in
Power cuts and increased industrial activity to boost imports in northern hemisphere summer months
- China power cuts could boost iron ore imports
Although steel mill production may be hit, there could be an increase in foreign-sourced materials
- China coal stocks fall to lowest level in a year
Bulk carriers set to benefit from increased cargo demand
- IRISL denies Israel connection
Iranian company states it did not buy tanker from Sammy Ofer-linked Tanker Pacific
- UK retailers count the costs of slow steaming
Shippers have realised that they would be better off air freighting consignments across the world than seeing them languish in boxes on slow-steaming boxships
- Little solace from OPEC for tanker owners
Despite rising demand for oil and an official increase in OPEC exports, there is unlikely to be a call for more seaborne trade
- Shipping faces cash flow crunch point
Depressed spot rates look unlikely to recover soon, piling pressure on cash flow and asset values and raising the spectre of covenant violations
- Scrapping to help ease orderbook
Scrapping activity substantially higher between third quarter of 2010 and first quarter of 2011
- The burden of interest
Lloyd's List Intelligence looked at the impact that lower profits had on the interest coverage ratio of dry bulk and tanker companies
- Newbuilding deliveries to keep rates low
Prognosis for marked improvement in rates is slim
- Shippers warn against moves to impose a bunker levy
Global Shippers' Forum would support a voluntary initiative to cut carbon emissions, but it says shipowners must take rigorous action on efficiency
- Fesco aims for majority stake in TransContainer
Russian container carrier plans to buy 25% of TransContainer, bringing its stake to 37.5%
- India's Adani signals expansion in Queensland port operations
New owner to up capacity at coal terminal from 50m tonnes to 80m tonnes per year
- South China Sea boost for high-spec jack-ups
Despite sovereignty disputes offshore discoveries and production continue
- Shoreside salaries rising across First World/Asia tigers, survey reveals
Charterers and freight traders earn up to $90,000, while bonuses can be 50% of salary
- Australia poised for regulatory changes to oil and gas exploration
One national regulator will replace dual regime with state regulators
- Grand China says hire payment problems are 'temporary'
Cash flow management cited by third parties as cause of arrears that pit Chinese would-be giant against Greek and South Korean shipowners
- Seafarers' unions and employers optimistic on Miami wage talks
Recent ILO agreement on minimum pay 'will be considered' by both sides, says union chief
- Latest economic indicators paint a confused and uncertain view
Trying to pick firm forecasts for shipping demand is proving extremely difficult, with the numbers for key trade generating countries adding up to a very mixed picture
- Russia's Gazprom to formalise and increase LNG exports to India
Gas giant signs MOUs with three energy majors to supply 2.5m tonnes to each per year
- JPPL finally gets approval to build bulk cargo port in Western Australia
Kwinana container terminal set to open 2014 with second terminal by end of decade
- Filipino seafarers say they can avoid EU ban over training failures
Government and industry in talks over corrective action
- CMA CGM shows the way on security
It is inevitable that major container shipping concerns will inadvertently have carried illicit cargoes
- Fix the problem, Philippines
Brussels is threatening to ban Filipino seafarers from EU flagged vessels in a row over low training standards, but the problem stems from only a handful of academies
|JUNE 2, 2011|
- S Africa patrols coast of Mozambique
SOUTH Africa has reportedly sent a warship to patrol off Mozambique to protect shipping from pirates
- 270 migrants missing
UP TO 270 migrants are reportedly missing today in the Mediterranean after their boat foundered
- Serbia plans terminal off the Danube
SERBIA is planning a cargo terminal meant to address persistent calls from shipping leaders for better use of inland waterways
- Mississippi trade imperiled
MILLIONS of dollars worth of trade are at stake if new vessel restrictions are imposed on the Southwest Pass on the lower Mississippi River, as expected, Fairplay has been told
- Thai SEC chairman quits over TTA dispute
THAILAND'S Securities & Exchange Commission chairman quit today over his involvement in an attempt by shareholders to force changes at drybulk carrier TTA
- Maersk to use Malta as Med hub
MALTA Freeport has closed a deal with Maersk Line to use Marsaxlokk as its central Mediterranean box hub
- Fifth pirate jailed over hijacking
A FIFTH pirate has reportedly been sentenced by a South Korean court over the hijacking of a chemical tanker and wounding of its captain
- Offshore bonanza seen
DMG & Partners Securities analyst Jason Saw predicted today that the offshore sector would remain robust over the next six months on high crude prices
- Bangkok snarl costs Thailand's shipping
CLOSURES at Bangkok's port stretching back to late 2010 are continuing to cause heavy congestion, the Thai Chamber of Commerce has complained
- Horizon seals refinancing deal
HORIZON Lines has agreed to a recapitalisation plan under which noteholders would take a huge stake in the company
- Gazprom, India close LNG deal
GAZPROM has agreed to transport up to 2.5M tonnes of LNG per year on gas carriers from Vladivostok to India's Petronet
- TORM sells, leases back tanker
TORM SINGAPORE, a subsidiary of the Danish products tanker specialist, has sold and leased back an LR2 tanker
|JUNE 2, 2011|
- YRC Worldwide Resumes Pension Contributions
YRC Worldwide is once again contributing to Teamster pensions, but at much lower level than it did before suspending those...
- Port of LA Adopts $976.6 Million Budget
The Port of Los Angeles adopted a fiscal 2011-12 budget totaling $976.6 million, which projects operating revenues of $405.4 million...
- Army Shipper Soars in Top Exporter Rankings
The U.S. Army's Military Surface Deployment and Distribution Command increased its ocean export volume nearly four-fold in 2010, an apparent...
- Profit Jumps at Transport Corporation of India
Transport Corporation of India, the Asian country's largest integrated supply chain and logistics service provider, on Thursday posted net profit...
- FMC Remains Closed After Power Outage
The Federal Maritime Commission announced that its offices remain closed on Thursday while the local electric utility attempts to restore...
- Michigan Governor Pushes New Detroit-Windsor Bridge
Michigan Gov. Rick Snyder called on his state's legislature to approve plans to build a new toll bridge connecting Detroit...
- Malta Confirms Maersk Move
Maersk Line will operate scheduled services to the Mediterranean island port of Marsaxlokk, Malta Freeport Terminal confirmed. The...
- Shippers Seek Lower Rates From Slow-Steaming
Shippers are adjusting to slow-steaming by ocean carriers but want carriers to use some of the savings to reduce freight...
- MSC Boosts Trans-Atlantic Rates to Canada, Mexico
Mediterranean Shipping Co. will raise general rates on cargo shipped from northern European and Mediterranean ports to Canada and Mexico,...
- NOL Completes $1.1 Billion in Ship Financing
Neptune Orient Lines said Thursday it completed $1.1 billion in loan agreements and documentation with financial institutions providing financing for...
- Global Air Cargo Increases 5.4 Percent in April
International air cargo traffic grew 5.4 percent in April but the gain lagged behind rapidly expanding capacity and behind growth...
- Con-way Sends $200,000 to Aid Joplin Tornado Relief
Transportation and logistics giant Con-way will send $200,000 to help tornado survivors rebuild in Joplin, Mo., the home of its...
- UTi Worldwide Profit Falls on Higher Costs
UTi Worldwide reported a 13.2 percent decline in net profit to $8.7 million in its fiscal first quarter ending April...
- Horizon Strikes Deal to Refinance Debt
Horizon Lines, struggling in recent weeks to stave off a debt default, said Wednesday it has new agreements with bondholders...
|JUNE 2, 2011|
- ICC: protectionism 'increasing'
- Russians still keen to expand in Black Sea
- Horizon inks deal to refinance debt
- Iran's container traffic up in 2010
- IICL reports record year
|JUNE 2, 2011|
- GMS slams 'toxic' media
Cash buyer lashes out against Indian news reports tying CEO Anil Sharma to demolition of infamous Ivory Coast polluter, Probo Koala.
- Anadarko opens tender
US energy giant's South American oil wing launches tender for two anchor-handling tug supply vessels, brokers say.
- Gibraltar battles spill
Welder fights for his life as Port Authority of Gibraltar tackles aftermath tied to fuel depot explosion.
- Sergey's shake
Sovcomflot's Sergey Frank visits Kazakhstan Prime Minister to discuss increased cooperation in tanker trade.
- Filipino fibbers
Seafarers from the Philippines are falsely claiming to be unmarried to avoid their wages being paid to estranged wives.
- Thoresen row rumbles on
Thai securities watchdog chief stands down over Thoresen Thai takeover scandal.
- SA in piracy pact
South Africa and Mozambique to carry out joint patrols in strategically important channel as Somali hijackers extend their reach southwards.
- NOL nails container cash
Singapore giant nets over $1bn from banks to pay for newbuildings ordered in 2007 and 2010.
- Sammy lays down the law
Shipowner personally intervenes to order fleet to steer clear of Iranian ports and further controversy.
- K Line brings back quartet
Japanese shipowner to reintroduce car carriers as economy revs up.
- Canadian bid for V Ships
Teachers' pension fund makes offer and aims to get their manager ahead of private equity groups.
- Sales targets in sight
Offshore and LNG order rush sets South Korean shipbuilding giants within striking distance of their 2011 goals.
- Kayne in TNK share raid
LA investment house grabs an extra chunk of shares in Bruce Chan-led company.
- Dur trims DryShips outlook
Lazard analyst slices his profit expectations for George Economou-led owner, but says shares are too deeply discounted.
|JUNE 2, 2011|
- Hermann Services shuffles Southwest DC leadership
Hermann Services has completed restructuring its Southwest warehouse management. John Murphy, executive vice president of Hermann Warehousing Corp., who joined the company in July 2010, has assumed executive responsibility for the operation. Tom Di...
- Cambridge Systematics appoints senior managers
Transportation planning and systems developer Cambridge Systematics has named Steve Capecci as chief of consulting operations and Sarah Ginand as chief of corporate services. Allison Karoly has taken over as marketing director of the Cambridge, Mas...
- Maersk implements piracy surcharge
Maersk Line said it has implemented a $70 per 40-foot container "emergency risk surcharge" on containers carried on its ships that move between the Indian subcontinent and various Middle East countries and pass through waters frequented by Somalia ...
- Liners rely more heavily on box lessors
Leasing companies purchased the majority of containers manufactured in 2010, and will probably buy as many this year, according to the Institute of International Container Lessors. The IICL said that lessors spent more than $4 billion for more tha...
- Horizon announces financial restructuring
Horizon Lines said Wednesday it has reached a deal with a group of note holders "for a transaction that will refinance the company's entire capital structure." It said under the plan, holders of most of its $330 million of unsecured 4.25 percent c...
- System helps freight move after disasters
The U.S. Federal Highway Administration will provide states with greater access to a modeling tool that can help them prepare for freight traffic shifts resulting from major road closures after natural disasters. The Freight Analysis Framework (FA...
- COSTHA elects 2011-2012 board
The Council on Safe Transportation of Hazardous Articles has elected its board of directors for 2011-2012. The executive committee members are: ' President Robert Heinrich, transportation safety advisor for Novartis Pharmaceuticals in East Hanover,...
- ESC not joining new Global Shippers Forum
The European Shippers' Council has declined to join the reconstituted Global Shippers Forum, (GSF), which announced last week it is taking steps to become a non-governmental organization so that it could speak for shippers at organizations such a...
- DGX boosts Caribbean, Latin American LCL links
Dependable Global Express has expanded its less-than-containerload program to serve the Latin American and Caribbean markets. The Rancho Dominquez. Calif.-based logistics services provider has increased its LCL all-water service to a weekly schedu...
- European Shippers Council
|JUNE 2, 2011|
- Fujairah prices fall
Almost no demand in Suez.
- North European markets quiet
Bunkering back to normal in Gibraltar.
- Gibraltar returning to normal after explosion
Political party calls for review to ensure the port 'has the resources to deal with incidents of this type'.
- Bunker suppliers 'sitting on tectonic fault'
'Heightened risk of failure' as shipping companies face credit squeeze, conference told.
- Bunker prices mostly down at main Asian ports
Mixed demand across key Asian bunker hubs on Thursday.
- Bunker market 'entering period of uncertainty'
Stebbins asks how the industry can create sense of 'mission and trust'.
- Finland grants subsidy for LNG-powered ship
Ministry providing funds to build environmentally friendly ships at Finnish yards.
- MRPL sells 380 cSt parcel at strong premiums
High price levels may signal low cutter stock in July.
- Vopak in joint venture to build storage facility in Malaysia
Vopak eyes a total storage capacity of 32.7 million m' globally by 2014.