|SEPTEMBER 6, 2011|
- CMA CGM bonds flag default risks
Bonds and derivatives tied to CMA CGM, the third-largest container line, are signalling that the company has a nine in 10 chance of defaulting as the slowing global recovery pushes freight rates to about zero.
|SEPTEMBER 6, 2011|
- Maersk invests or commits US$12 billion in 2011 to maintain lead
- Gloomy news as Canada takes barometric global trade reading from Singapore
- Labour disputes reportedly driving cargo from Mombasa to Dar es Salaam
- China's new railway freight station opens this month in Changsha
- Sino-Russian Hunchun-Kamyshovaya Railway sea-land service launched
- America's Globe Express Services opens in Guangzhou and Suzhou
- Freight volumes drive Damco first half sales up 14pc to US$37 million
- INTTRA files counterclaims against GT Nexus for patent infringement
- Kuehne + Nagel India gears up for automobile facility hub in Pune
- Mideast unrest has analysts doubtful of full Libyan oil production till 2013
- China Airlines to launch Taiwan cargo and passenger flights to Chongqing
- Amsterdam Schiphol Airport cargo down 1.6pc, but China volume up 5.2pc
- US Customs intercepts 520 lbs of ecstasy chemicals from China at LAX
- AirBridgeCargo flies 1,150 Canadian pigs weighing 55,000 kilos to Moscow
|SEPTEMBER 6, 2011|
- Ahlers India holds leadership training meet in Chennai & Cochin
- FESCO Transport Group launches direct Russia-Xiamen service
- MAERSK LINE announces direct ECUMED between Latin America & Black Sea
- MSC to launch Australia/New Zealand-America Oceania Express service
- OOCL & Cosco upgrade capacity on Far East-Med. loop
- PIL & MCC to launch China-Bangladesh services
- Razor wire & spikes debut as anti-piracy devices!
- Shipping lines gradually planning restoring Libya services
- World Container Index aims at providing risk management, hedging opportunities for freight users
- Gangavaram port plans to target more non-coal items
- Landlord port model chosen for Vizhinjam ICTT
- Shipping Ministry awarding 23 PPP port sector projects this fiscal: Vasan
- It's a poor-performing private monopoly at Mumbai Airport's air cargo complex, says trade
|SEPTEMBER 5, 2011|
- SIA launches new freighter service to Jakarta
SIA Cargo, Singapore Airlines' freight division, is starting a new freighter service to Indonesia's capital Jakarta today. The weekly service is operated with a B747-400F.
- IFB expands connections between Rotterdam and Antwerp
IFB has added the RSC Rotterdam terminal to its direct connections between Rotterdam and Antwerp. The pan-European intermodal operator is expanding its portfolio with a connection ...
- Multilingual signs on motorways in India
The ministry for roads and motorways has said that signposting is to become multilingual on Indian motorways. It is planned to provide information panels on motorways in Hindi, Eng...
- USA: Caltrain recommends new operator to run train system
Caltrain management has negotiated a proposed contract with TransitAmerica Services Inc to operate the peninsula commuter rail system and recommended the contract for approval to t...
- New general manager for Simarco
Simarco, one of the UK's leading independent freight and logistics firms, has enhanced its appeal to retail clients by appointing Trevor Scott as its new general manager. Scott has...
- FedEx Freight expands services in Mexico
FedEx Freight, a subsidiary of FedEx Corp, is set to serve three additional markets in Mexico. With new service centres in Toluca, Puebla and Veracruz, the LTL company has reduced ...
- Kuehne + Nagel opens automotive centre in India
The global logistics provider Kuehne + Nagel recently opened an automotive solution centre in Pune (India), thus meeting growing demand for specialised logistics solutions for the ...
- DHL opens Chinese solar panel centre in the Netherlands
DHL has opened a European distribution centre in Moerdijk (Netherlands), for solar panels manufactured in China. DHL will provide end-to-end supply chain services, from transport a...
- Japan helps construction of road bridge between Tanzania and Rwanda
Tanzania's ministry of finance has announced that Japan is financing a grant worth JPY 1.86 billion (USD 24.2 million) to construct a bridge connecting Tanzania with Rwanda, to hel...
- World Airways starts flying for Asiana
World Airways, a subsidiary of Global Aviation Holdings Inc, has reached an agreement with the Korean carrier Asiana Airlines to operate a Boeing B747-400 freighter on a full-time ...
- Direct flights between Serbia and Australia
Serbia and Australia signed an MOU in Belgrade last week allowing direct flights between the two countries. This document is based on the principle of free competition and allows a...
- Russia needs to use ports in Ukraine and Baltic states
Russia may have to use ports in Ukraine and the Baltic states to export as much as 23 million t of grain, if harvests continue to be strong this season, Rusagrotrans, the country's...
- ElbePort Wittenberge open for trimodal operations to Eastern Europe
ElbePort Wittenberge recently started operations as a multipurpose terminal. Thanks to its geographical location between Hamburg and Berlin as well as its trimodal connections to r...
- Foreign companies interested in port of Eilat
The tender for the sale of the small Israeli Red Sea port of Eilat has triggered significant interest among investors. As the Israeli authority for state-owned companies announced,...
- India seeking private investors for the construction of seven ports
Chronic transport bottlenecks have prompted India to woo investors to build seven new seaports. According to the government's ideas, these creditors should contribute about two thi...
|SEPTEMBER 4, 2011|
- Flensburger lays keel for new RO/RO ferry
|SEPTEMBER 5, 2011|
- Indian government tightens restrictions on older vessels
Collision in Mumbai port spurs crackdown on vessels over the age of 25
- Flynn quits as Omega chairman
Embattled Greek tanker owner cites possible conflicts as US broker pursues other opportunities
- Tonnage over 25 years old still makes up 25% of calls
Decline in elderly tonnage entering India's ports has been minimal over the past four years
- A life less ordinary
After a career that seems more like a movie script, Jacques Le Fur is the only foreign master on Halong Bay in Vietnam
- Baltic Exchange suspends Syria aframax route on EU sanctions
Cross-Mediterranean rate is temporarily replaced with Turkey-France voyage
- World Ocean Council urges members to start making a mark
More green accountability needed as growing number of NGOs try to influence shipping
- Bergen Group moves to soothe shareholder fears
New management goals include a fresh focus on shipbuilding and a drive to build competence in the far north
- HHI says drillship owners more confident about yard's own medium speed engines
Company has won orders to install 98 engines into 15 vessels, nine of which it is building
- VLGCs set for rate rise after Middle East holiday lull
Chartering activity picks up after Eid holiday, with vessels tentatively fixed at rates above previous market levels
- Shipping is still mired in a global recession
The major stumbling block to any recovery is the shipbuilding capacity in South Korea and China
- MSC France in talks to buy cancelled Libyan cruiseship
Half-complete vessel at STX Europe yard in St Nazaire was halted after GNMTC defaulted on payments
- CSAV seeks partner as losses soar
Directors in talks with other lines about Chilean company's container shipping business
- Three fresh capesize sales reported
Lift in secondhand activity coincides with chartering market boost
- UK faces legal challenge over emergency cover scrapping
Opponents argue decision in breach of international treaty obligations and domestic law
- Bulkers sold for scrap in India maintain high price levels
Market still anticipating improved demolition rates over the coming weeks
- Tristar Shipping's vessels arrested
Small Dutch cargo carrier set for collapse after bank impounds assets
- GL fleet tops 100m gt mark
Classification society claims 40% of global boxship fleet
- Banks force HCI Capital fund to sell tanker
Disposal of Hellespont Trust is further sign of lenders' pressure on ailing KG sector
- Freight forwarders expect volumes to rise in fourth quarter
Danske Bank's index rises despite slight dip in volumes
- Major Libya ports open to shipping
Inchcape says it only awaits confirmation after EU lifted sanctions
- CSAV's future on the line
What happens next to CSAV could have repercussions for the whole industry. Is this the start of another round of consolidation?
- Greeks' interest in boxships boosts GL
Switch of focus by owners in Greece prompts Germanischer Lloyd to increase its presence in the country
- Staff shortages close Sullom Voe
Spending cuts leave UK's biggest tanker port unable to provide vessel traffic services
- Pacific Basin chief executive Nyborg resigns
Klaus Nyborg will leave the company in March 2012 in order to return to Denmark
- Indian government under fire for 'indecision' on shipping
State auditor condemns lack of level playing field on tax
- Russian class society suspends Greek office
RS Hellas faces allegations of falsification of certificates affecting 16 vessels
- Ageing Frontline suezmax tanker up for sale
Estimate of $13m for 17-year-old ships would be a 75% fall from$50m paid three years ago
- Safety is worth the money
Word of a legal challenge to the decision to terminate emergency towing vessel cover around the UK coast is welcome
- Benakat to buy into BLT subsidiary
Indonesian oil firm to take 10% stake in Buana Listya Tama
|SEPTEMBER 5, 2011|
- Sheer size of insurance market revealed
NEW FIGURES from the International Underwriting Association have revealed the London company insurance market generated £40Bn ($64.5Bn) of premium income last year
- Greece alleges false papers from Russian Register
GREECE has reportedly accused the Russian Register of Shipping of issuing false certificates through its Piraeus office
- Coal stockpiles are mounting in China
CHINESE coal importers are continuing their buying boom, ensuring that Capesize rates stay high even as iron ore imports drop, IHS McCloskey reported today
- Watchdog finds Delhi has neglected shipping
INDIAN investigators issued a report to Parliament today that severely criticised Delhi for failing to spur shipping growth
- Fight flares on call to relax India port rules
A PROPOSAL in India to allow coastal foreign ships to load and unload containers has sparked a ports squabble
- Grounded bulker's cargo being removed
WORK BEGAN this morning on transhipping cargo from the bulker Angel 1, which grounded on Mauritius coral exactly one month ago
- Storm disrupts Gulf of Mexico production
A STORM reportedly shut down about three-fifths of Gulf of Mexico oil production and 44% of gas output over the weekend
- CSAV seeks $1.2Bn injection
CHILE'S CSAV said it will seek a capital increase of $1.2Bn at an October shareholders meeting
- Box recovery unwinds
A MILD recovery in long-haul box rates has unwound, brokers said today
- Embiricos grabs bargain VLCC
GREECE'S Embiricos shipping dynasty has reportedly snagged another bargain VLCC, brokers told Fairplay today
- Gibson: beware VLCC quick solution
A CALL by Frontline for VLCC owners to accelerate scrapping of the older tankers has drawn a warning about how that would affect prices in the sector
- Breaker buying frenzy erupts
MONSOONS are ending this month, so Indian breakers have gone on a buying frenzy, yet their prices - and those of their rivals - remain unchanged
|SEPTEMBER 5, 2011|
- CMA CGM Boosts Gulf Bridge Express Service
CMA CGM is upgrading its Gulf Bridge Express service linking the Gulf of Mexico, Mexico and the Caribbean with the...
- CSAV Seeks $1.2 Billion Capital Injection
Financially ailing Chilean ocean carrier CSAV said it will seek a $1.2 billion capital injection in October as it sank...
- FedEx Opens Its Largest China Facility
FedEx Express, in a significant expansion of its Asia operations, opened its largest express facility in China. The...
- Merge Ahead
Pacific Coast-based Gordon Trucking is pointing its business toward the East Coast. The Pacific, Wash.-based truckload carrier is acquiring Central...
- Trying to Build a Better Carrier
John Simone spent his fifth day as president and CEO of LinkAmerica meeting the people who may hold the key...
- New Beasts of the East
With two major double-stack corridor projects under way, eastern rail giants Norfolk Southern Railway and CSX Transportation plan to offer...
- Labor's New Tune
On being elected president of the International Longshoremen's Association, basked in the applause of union delegates to the strains of...
- 'Why Not Minot?'
Distribution planners looking for the ideal location to build an inland port probably wouldn't zero in on Minot, N.D., but...
- Carriers Challenge NY-NJ Port Fee
Ports around the United States are anxious to encourage greater use of intermodal rail for inbound shipments, but when does...
- For Whom the Bridge Tolls
Trucks drove through bridge toll gates an estimated 416,065 times last year to reach the New York Container Terminal on...
- Liquidated Changes
Customs has a storage problem, and how it is adapting will dramatically affect importers who file paper entries. ...
- Budget Decisions Churn Waters
The battle over the U.S. debt will affect Americans and government spending for a long time, and will mean major...
- Freight Carriers Seek to Derail Amtrak Fines
The freight rail industry is fighting a regulation that allows the federal government to fine Class I carriers if Amtrak-provided...
- Dollars for Infrastructure
Even before President Obama could unveil a list of new proposals to bolster the economy, his administration this summer was...
- The Terrible Day
When I woke on September 11, 2001, I faced what I regarded as the world's most tedious commute, from my...
- TSA Sets Air Cargo Mandates
The law that created the Transportation Security Administration gave the agency jurisdiction over all cargo security. That may be true...
- Bonner's Freedom to Act
Robert C. Bonner was still the nominee to be customs commissioner in 2001 when terrorists attacked the World Trade Center...
|SEPTEMBER 5, 2011|
- Is terminal capacity set to stymie box growth?
Despite generally poor peak season cargo flows, especially on the main east-west trades, and growing fears of a double-dip global recession, there are genuine concerns that prospects in the container shipping industry could be severely curtailed by a lack of handling capacity in the ports.While this year has seen significant new investment in container terminal projects, following the suspension and termination of several schemes throughout 2009 the pace of development has still not caught up
- CSAV looking for a partner
- Shipping services return to Libya
- World Bank: world entering new 'danger zone'
- INTTRA files counterclaims against rival GT Nexus
- Challenges continue for ICG
|SEPTEMBER 5, 2011|
- Piraeus piles on 2Q profit
Premier Greek port doubles second quarter profit despite drop in revenue.
- Flynn flies Omega nest
Omega Navigation's broker chairman departs amid suggestion of future conflict of interest.
- NOCC shares Dyvied up
Chunk of shares in Oslo-listed owner spread among five members of the Dyvi family.
- CMA bond default spectre
Falling price of CMA bonds holds opportunities as well as risks for investors.
- FRO could scrap tanker
Brokers struggling to find buyers for Norwegian owner's 1994-built suezmax Front Fighter.
- Port problem solved
Iraq admits new Kuwaiti terminal will not restrict its shipping access to Persian Gulf.
- DFDS charters ro-ro
Danish owner takes 2010-built passenger and freight ship from Grimaldi for Klaipeda run.
- JES CFO heads for exit
Chinese shipbuilder watches CFO walk after no more than six months in the job.
- Dutch cargoship firmly aground
Probe begins after Wagenborg vessel gets stuck in shallow water off Denmark.
- Broker's tanker tonic
Hike in Middle East oil production finally provides a bright spot for VLCC owners.
- PIL goes direct
Singapore container line launching link between Chittagong and Shanghai.
- Nordic buys suezmax
Herbjorn Hansson-led owner lays down a shade under $25m for 12-year-old tanker.
- Seaspan adds two more
New York-listed owner continues to expand its firm orderbook at Yangzijiang Shipbuilding.
- USCG airlifts crewman
Seafarer taken from Parakou Shipping bulker off Alabama after suffering hand injury.
- Nyborg quits Pac Basin
Hong Kong-listed Pacific Basin sees chief executive Klaus Nyborg exit after less than three years at the helm.
- Star sheds a couple
Oslo-listed Star Reefers said to have scrapped a pair of older vessels in a deal worth over $6m.
- U-Ming profit chopped
Taiwanese bulker owner hit by plunge in revenue in first six months of 2010.
|SEPTEMBER 5, 2011|
- Prices fall in Fujairah
MGO deliveries were available from September 12-19 in Cape Town.
- MGO sulphur average in the US below 2015 ECA limit
Viswa Lab says 'not even one' bunker fuel sample in 2010 exceeded global sulphur limit.
- European bunker markets soften
Everyone agrees that 'into ship' numbers should be lower, a Rotterdam player tells Bunkerworld.
- Novorossiysk port borrows $110 million for fuel oil terminal
Loan will be used to complete the building of Black Sea's largest fuel oil hub.
- New studies look at health implications of ultra-fine particles
Heart disease in communities downwind from Los Angeles 'may be related to effluent from ocean-going ships', according to air-quality researchers.
- Soot is 'key factor' in global warming
Shipping could come under new pressure to cut its soot emissions.
- Optimal trim gives 'instant' bunker savings
German cruise operator extending use of Dynamic Trimming Assistant.
- Russia predicting changes to crude and oil product exports
New duty regime from October 1 could see Russia's crude exports rise by 10%, mainly at the cost of fuel oil.
- New hybrid ferry launched in the US
Vessel is 'great example of the growing importance of sustainability and alternative fuels' says mayor of Bridgeport.
- Bunker fuel washed ashore near Cape Town
Oil leaking from bulk carrier that grounded two years ago.
- Double-digit losses for Asian bunker prices
Demand 'mixed' in key Asian bunker ports.
- Hyundai Oilbank launches heavy oil upgrading unit
New unit makes it Korea's leading refiner in terms of fuel oil conversion capacity.
- Typhoon delays bunker deliveries at Japanese ports
Delays expected for the next few days, traders say.
- New Singapore-based credit management firm opens
Marine consultancy firm specialises in credit management, due diligence type counter-party risk and project management.
- IBIA Asia to appoint new chairman
Managing director of surveying firm expected to take over Simon Neo's role.