|JUNE 9, 2011|
- Baltex electronic trading likely to lure hedge funds
The new freight derivatives trading screen from the Baltic Exchange, a 267-year-old bourse that sets global shipping prices, will attract hedge funds and expand the US$24 billion market, Citigroup Inc and Cargill Inc said.
- No dry freight upturn seen until 2014
A major upturn in dry bulk shipping rates is not expected before the end of 2013 as the freight market will continue to struggle with mounting fleet growth, leading shipbroker Fearnleys said here on Tuesday.
- Hyundai Heavy shares fall on possible US$2.4b Hynix bid
Hyundai Heavy Industries Co, the world's biggest shipyard, fell the most in two weeks after saying that it may consider bidding for a US$2.4 billion stake in Hynix Semiconductor Inc being sold by former creditors.
- Baltic sea freight index falls for second day
|JUNE 9, 2011|
- APL president Eng Aik Meng resigns, north Asia chief Ken Glenn succeeds
- US imports up 8.7pc with Chinese exports driving big share of increase
- Zim splits Pacific leg ZCS service into two separate loops
- Maersk appeals to industry for more efficiency and customer service
- US Army Corps of Engineers has US$18 million to dredge Oakland to 15 metres
- Despite sanctions, Iranian volume up 11pc in 2010 to 3 million TEU
- Jiangsu's textile and garment exports up 38pc in first four months
- Singapore's SOXAL opens on Jurong Island where manufacturing thrives
- Shipper poll shows desire to share slow-steaming gains through lower rates
- Protectionism grips as 30 new export restrictions imposed in a year: ICC
- China joins US, Russia in opposing European carbon trading scheme
- India and China to lead global aviation, says departing IATA chief
- Frankfurt's Fraport pretax profit increases 25pc to US$393 million
- Canada's Bombardier's first quarter profits up 12pc to US$220 million
- Asiana flies to Portland, restores 747 freighter service to Seoul
|JUNE 9, 2011|
- Ex-im operations shifting from ICD-Sabarmati to ICD-Khodiyar on June 21
- Indian Register of Shipping appointed Recognised Organisation by Liberia
- Slow steaming contributing to peak season container shortage, says WSC
- Teamglobal launches direct consol service from Houston to Nhava Sheva
- Fieo asks Sharma for interest subvention, DEPB extension
- ICC denounces G20 rise in protectionism
- Slovenian PM to arrive on June 14,aims at doubling bilateral trade
- Sonias PA asks PM to lift ban on cotton exports
- US Consul General visits VCT
- Asia-north Europe rates more volatile since 2008 EU conference ban
- Decontrol of diesel pricing necessary to narrow fiscal gap: Rangarajan
- Survey ranks India 5th among best FDI destinations
- Coal India receives 18 import bids
|JUNE 8, 2011|
- Saudia Cargo increases service frequency to Amsterdam
Starting today (8 June), Saudi Airlines Cargo is increasing its cargo services to Schiphol (Amsterdam) by two additional weekly flights. The national carrier of Saudi Arabia, which...
- Ceva and Iveco prolong alliance in Turkey to 2013
Logistics service provider Ceva and truck maker Iveco have prolonged a partnership that began in 2007 to 2013. The agreement foresees that Ceva will continue to distribute Iveco sp...
- Electronic truck toll in Poland
Poland is going to introduce a new distance-related electronic toll on 1 July. The charges will be levied on around 1,800 km of motorways, A roads and regional links. The leve...
- Oebb says Rail Cargo Hungaria not for sale
According to various media sources, the Austrian state railway OeBB does not want to sell its loss-making Hungarian freight arm Rail Cargo Hungaria (RCH/formerly MAV Cargo). The re...
- Interferryboats offering new intermodal transport service
As from 13 June, Interferryboats (IFB) will organise daily shuttle connections between Belgium and Italy. According to a media release, the extension makes IFB the sole provider of...
- Globaltrans investing in its fleet
Globaltrans, a leading private freight rail transportation group operating in Russia, the CIS and the Baltics, has been investing in its fleet. Last year, the group's fleet ex...
- UPS expanding capacity of air network in Americas
UPS recently increased its cargo capacity by more than 50% on 19 weekly flights into Central and South America, replacing a Boeing 757 narrow-body aircraft with a new, larger B-767...
- Joint venture Airbus Freighter Conversion GmbH (AFC) terminated
European and Russian partners have jointly decided to stop the A320/A321 passenger to freighter (P2F) conversion development programme for economic reasons and will therefore launc...
- Stuart Smith moves to ACS Paris
Air Charter Service's Paris operation is moving to much larger offices after experiencing huge growth in 2010, and is now set to welcome Stuart Smith, from the company's New York f...
- Port of Antwerp reinforces IT leadership with APCS
Over the past few years the port of Antwerp (Belgium) invested heavily in developing electronic communication for managing the supply chain as efficiently as possible. To bring thi...
- UTi Worldwide - higher revenues but lower profit
The Long Beach CA (USA)-based forwarding company UTi Worldwide Inc has reported a net profit of USD 8.7 million, less net income attributable to non-controlling interests, in the q...
- Röhlig registered strong growth in 2010
The Bremen (Germany)-based logistics service provider Röhlig has reported that the results for fiscal 2010 were the second best in its history. Last year's upturn made a significan...
- Geodis Wilson acquires One Source Logistics
The global freight forwarder Geodis Wilson has strengthened its position in the US market by taking over domestic transport specialist One Source Logistics. US-based One Source Log...
- Demag Cranes delivers bulk handling MHCs to Canada
Demag Cranes recently received an order to supply two mobile harbour cranes (MHCs) to Canada. The two identical machines are four-rope grab cranes for professional bulk h...
- European Shortsea Network publishes annual ESN report 2010
The European Shortsea Network (ESN), a networking platform for Shortsea Promotion Centres (SPCs) in 22 countries, has just published its annual ESN report for 2010. The report cont...
- EU Parliament introduces "polluter pays" principle
Revising "Eurovignette" road haulage tax rules will make it possible for EU member states to charge hauliers for air and noise pollution costs, in addition to motorway to...
|JUNE 8, 2011|
- Gladding Hearn offers wind farm service vessel for U.S. market
- Port of Antwerp cuts tonnage dues for clean ships
- Maersk Line CEO says container shipping needs to change
- Dockwise may switch flags to protect its ships against pirates
- Steve Dick to retire from key Tidewater role
|JUNE 8, 2011|
- APL president announces plans to leave company in September
- Coast Guard cutter captain suspended due to grounding
- Portland Wheat Marketing Center offering pair of new courses
- Freight transport index finds shipments down during April
- Mitsui O.S.K. Lines earns DBJ environmental rating
|JUNE 8, 2011|
- VLCC market poised for upturn as ship list reduces
Supply of tankers available to ship crude from the Middle East Gulf remains below 70
- NYK secures short-term LNG time charter deal
Japan's Nippon Yusen Kaisha has signed a four-year charter agreement to transport liquefied natural gas for French energy provider GDF Suez, positioning itself to beat the expected LNG gold rush with shorter contracts
- Ya-Sa Holding charters out suezmax at $21,000 a day
Turkish shipowner Ytodayax tanker Yasa Polaris for one year at a respectable rate in line with the market price, as the suezmax one-year period market continues to provide a rare oasis of calm amid a sea of tanker volatility
- Baltic electronic trading screen makes debut trade
The Baltic Exchange's determination to keep pace with the fast moving world of trading was cemented as its new, long-awaited, electronic screen for dry freight derivatives finally carried out its first trade today
- Libyan tanker fleet in lay-up
V.Ships covering cost of reduced crews as vessels sit idle
- Investors shun shipping companies for offshore oil
The tonnage supply-demand balance is a disincentive, while many investors have already lost money in shipping stocks over the past two years
- Basis for valuing ships is undergoing a sea change
Traditional approaches are increasingly being regarded as inadequate to meet the latest accounting rules' more stringent requirements
- World's ports will need $830bn for infrastructure
OECD report says maritime container volumes could quadruple by 2030
- The advantages of having ready money
Countries are not so different from impoverished and overexuberant shipping concerns, in both their irrational behaviour and their inability to live within their means
- Storm of protest brews among German owners
Shipowners in Germany are furious about a decision by the country's government to cut subsidies
- Nordic countries stop gassing on CO2 reduction
LNG fuel is finally moving forward enough to convince infrastructure to follow suit
- Shippers welcome Maersk call
Changes in liner sector 'long overdue'
- Nautilus calls for 'European Jones Act'
UK parliamentary group hears plea to protect investment in high-end maritime skills
- Dockwise chief threatens to quit Dutch flag over bar on armed guards
Netherlands' parliament to discuss lifting restrictions on anti-pirate security next week
- Cruiseships orders underpin European shipbuilding
Billions still being invested into passenger shipping
- DNV offers radical concepts to bear in mind for the economic upturn
Class society releases details of two new bulk carrier design concepts which owners could use as the basis for selecting innovative features to be incorporated into new vessels
- Brodosplit isn't working
Workers' action to try to save Croatia's biggest yard has within it a kernel of hope
- Transpacific box rates tumble
Drewry's weekly Hong Kong-Los Angeles container rate benchmark has fallen 8.1% in seven days
- Speak out now on sulphur
European shipowners are playing a dangerous waiting game
- Simple modifications could save fuel costs
DNV says bulk carriers could save up to 10% in fuel costs with simple changes to design
- APL president Eng Aik Meng resigns
Kenneth Glenn to take over following the latest in a series of personnel changes at NOL
- Portek in talks with potential rival bidder
Stock rises to above ICTSI's offer price as Portek discloses another suitor
|JUNE 8, 2011|
- Chavez raises port fees
VENEZUELAN President Hugo Chavez will substantially increase the country's port tariffs as of 24 June, according to a decree published in the government's official gazette
- Nuclear ship scrapping backed
A GREEN group has backed the decision to break and recycle nuclear waste tanker Pacific Sandpiper in Europe, but emphasised that high safety standards are needed
- London FFA screens alight
LONDON'S Baltic Exchange today executed the first trades on its new dry FFA screen
- Smuggler sentenced in US
STOWAWAY Angel Gomez has been sentenced to 20 years in prison for trying to smuggle drugs into the US
- CEOs offer Capes gloom
FOUR CEOs of publicly traded drybulk companies are backing redictions of an extended Capesize rate trough
- Oz extends Indonesia cattle ban
AUSTRALIA has suspended all exports of live cattle to Indonesia, agriculture minister Joe Ludwig said today in Brisbane
- Somalia urges hostages' release
SOMALIA'S government has appealed to local pirates to release seven Indian seafarers still in captivity even though a ransom has been paid
- Russia coal terminal planned
SUMMA Capital, which took control of Russia's Novorossiysk port at the end of last year, is planning to build a coal terminal at Wrangel Bay in the country's far east
- Antwerp offering discount for green ships
GREEN ships will mean more pocket green for owners, Antwerp's port said today
- Capesize ballasters evade enticement
HIGH RATES offered by Atlantic charterers to entice Capesize ballasters from the Pacific have resulted in a tonnage glut and a rate correction, brokers told Fairplay
- Dockwise warns on armed guards
HEAVY-lift operator Dockwise has warned the Dutch government it might be forced to flag out if the country doesn't relax rules on armed guards
- EU freezes Libya port assets
THE EUROPEAN Council has added six Libyan port authorities to its list of entities with assets frozen due to their links with the Gaddafi regime
- Medco shifts to gas
MEDCO Energi Internasional, Indonesia's biggest independent oil and gas company, is shifting focus to natural gas to make up for falling oil production, the bank DnB NOR said today
- Valencia turns around port losses
VALENCIA'S port today told Fairplay it turned around last year's losses to profits of €22.1M ($32.3M) in 2010
- Safmarine's eye on the sky
THE SKY might be no limit for Safmarine Container Lines.
|JUNE 8, 2011|
- Customs Announces ITDS "Single-Window" Data Set
Customs and Border Protection announced on Wednesday a major step toward fulfilling a 10-year-old goal of giving importers a "single...
- AFL Short-Sea Service to Launch Next Week
A New England-Halifax shuttle service, launched by American Feeder Lines as the forerunner of a planned coast-wide network of short-sea...
- FMC to Query Chinese Bond Rider Changes
The Federal Maritime Commission will seek public comment on a proposal for an exchange rate adjusted bond rider for non-vessel-operating...
- US Chamber Calls for Elevated Border Trade Facilitation
U.S. Chamber of Commerce leaders said Wednesday that the U.S. and Mexico should elevate their efforts to promote security and...
- UP, BNSF Sued for Price-Fixing
Coal and coke mining firm Oxbow Corp. is suing the two largest U.S. railroads, Union Pacific Railroad and BNSF Railway,...
- European Shippers Support Maersk CEO's Call for Change
European shippers are endorsing the call for radical changes in the container industry by Maersk Line CEO Eivind Kolding, but...
- Ryder System Buys Hill Hire for $252 Million
Ryder System expanded its truck leasing operations in the United Kingdom by acquiring British heavy truck leasing firm Hill Hire...
- DOT Freight Index Slipped in April
Freight volume carried by for-hire transportation companies in April fell 1 percent from the previous month but was up 3.7...
- Baltic Exchange Launches Dry Freight Derivative Marketplace
The Baltic Exchange's new electronic marketplace for dry freight derivatives, Baltex, began trading today. Baltex, which executed its first...
- DHL Express Expands US Service to Middle East, Asia
DHL Express is adding flights connecting the U.S., Middle East and Asia, dedicating a new Boeing 747-400F to its intercontinental...
- US Chamber Board Picks Trucker Ruan as Chairman
The board of directors at the U.S. Chamber of Commerce elected Iowa trucking industry executive John Ruan III as chairman...
- Inventory Restocking Arrives Earlier, Lasts Longer
U.S. shippers moved more freight than normal in the first quarter, as a wave of inventory restocking hit earlier than...
- DHS May Ease Airport Shoe, Laptop Rules
The Department of Homeland Security, in a move that would be welcomed by long lines of beleaguered travelers, is considering...
- Antwerp Introduces Discount for 'Green' Ships
The port of Antwerp wiil reward "clean ships" with a 10 percent discount on tonnage based harbor dues from July...
- Mumbai Port Traffic Falls 18.5 Percent
Container throughput in India's Port of Mumbai fell 18.5 percent year-over-year in the first two months of fiscal 2011-12, the...
- Dockwise Threatens to Quit Dutch Flag
Heavy-lift shipping company Dockwise warned today that it will transfer its Dutch-flagged ships to a different register unless the Netherlands...
- Bremen/Bremerhaven Reports Record Box Traffic
Container traffic at Bremen/Bremerhaven hit a record high in April as the German twin ports continue to outpace growth at...
- APL President Eng Aik Meng Resigns
APL President Eng Aik Meng announced his resignation on Wednesday, expanding a rapid overhaul in the top leadership at one...
- Drewry Trans-Pacific Benchmark Rate Slides
Spot container freight rates on the eastbound trans-Pacific took a sharp turn downward in the last week, falling 8.1 percent...
- Japan Reports Record Trade Deficit
Japan's trade deficit with the rest of the world soared more than three-fold to a record in the first part...
- Hapag-Lloyd Skips New Orleans Port Calls
Hapag-Lloyd said it will omit the next three ship calls on its GS1 service between the U.S. Gulf and East...
|JUNE 8, 2011|
- CMA CGM confirms CO2 reductions on track
- TCC files for Chapter 15 protection
- PierPass fee to increase
- Transpac PSS to be postponed
- Antwerp to charge less for green ships
|JUNE 8, 2011|
- Fisherman spots slick
US Coast Guard taps Oil Spill Liability Trust fund to bankroll response to reports of oil in US Gulf.
- Aframax on the block
Korea Line Corp tanker set for auction in Hawaii as earlier sales reports prove false.
- Tanker titans tumble
Shares of US-listed tanker owners take a beating as oil cartel leaves output levels unchanged.
- Pirates free Yuan Xiang
Chinese ship with ties to group arrested with $3.6m in ransom cash sprung from pirate den in Somalia, sources claim.
- Stevenson strikes again
Key chartering man Mike Fogarty to bolt Teekay's Gemini Tankers and rejoin old OMI boss at Diamond S Shipping.
- Dahlman jacks drill duo
Equity analyst paints shares of US-listed drilling contractors with coveted rating as jack-up rates head north.
- Transatlantic wants SBS
Christen Sveaas-controlled group in talks to buy his Kistefos-owned SBS Marine offshore shipping company in Aberdeen.
- Mermaid outlines Oslo plan
Thoresen Thai Agencies' offshore arm prepares to raise up to $105m from private placement of drilling unit.
- SKIL targets IPO
Owner of India's Pipavav Shipyard going to market to raise more than $250m to reduce debt.
- SCI planning cull
Indian state owner will offload ageing bulker and tanker this year, with up to 12 more sales possible.
- Drifting ship secured
German vessel suffered engine failure at entrance to Dardenelles, but tug brought it safely to anchor.
- 'Owners level with crews'
Anti-piracy expert backs owners' claim they do not hold anything back from crews about hostage terrors.
|JUNE 8, 2011|
- World, Finnair enter cargo flights agreement
World Airways, a subsidiary of Global Aviation Holdings, has entered into an agreement with Finnair Cargo to provide MD-11 all-cargo flights serving Helsinki, Shanghai and New York, starting June 15. The new service is to operate twice a week using...
- TNT adds Delhi/Europe freighter service
TNT Express has started a dedicated Boeing 767 freighter service between India and Europe, the company said Wednesday. The service will run five times a week between New Delhi and TNT's European air hub in Belgium, with a stopover in Dubai on the ...
- DHL Express boosts U.S./Mideast/Asia service
DHL Express this week started next-day intercontinental flights between the United States and the Middle East and Asia-Pacific to the United States to meet increased demand along these trade lanes. The Boeing 747-400 freighter operated by Polar Ai...
- Latin airlines: EU emissions scheme 'illegal'
The Latin America and Caribbean Air Transport Association has asked the region's governments and airlines to reject the inclusion of international aviation in the EU-Emissions Trading Scheme (EU-ETS). The association called the scheme "an illegal,...
- Emirates selects Uganda agency representation
Emirates Shipping Line has established agency representation with Equator Line Uganda in Uganda. Landlocked Uganda is typically reached through Kenya, where Emirates calls on two services from the Far East, Pakistan, and Middle East....
- NOL departures continue as Eng leaves APL
Eng Aik Meng will step down as president of liner carrier APL at the end of August, the line's Singapore-based parent company NOL said Wednesday. Eng Eng will be replaced by APL veteran Ken Glenn, who is president of APL's North Asia region. NOL s...
- Pilots to reduce Mississippi draft 2 feet
Pilots who guide ships in and out of the Mississippi River say they will reduce the depth to which ships can be loaded because of silting from this spring's floods and a lack of funds for dredging. Capt. Michael R. Lorino Jr., president of the As...
- Nike embraces 'dashboard'
Nike embraces "dashboard" Nike embraces "dashboard"...
- Operational deficits 'unsustainable'
- Air services announcements
DHL Express boosts U.S./Mideast/Asia serviceDHL Express this week started next-day intercontinental flights between the United States and the Middle East and Asia-Pacific to the United States to meet increased demand along these trade lanes. TNT ad...
|JUNE 8, 2011|
- Port of Antwerp to reward cleaner ships
Measure follows an initiative by the International Association of Ports and Harbours Environmental Ship Index initiative.
- IFO prices firm in Fujairah
Small movements across South Africa.
- European bunker prices rise
Piraeus prices 'crazily high'.
- Collision left 1.5 metre gash in bunker tank
330 mt of fuel oil leaked into UK dock despite prompt action by bulker's crew.
- Capesize bulkers slow-steaming while bunker prices remain high
But broker suggests it is unlikely to be a long-term trend.
- Finnish forest industry calls for delay of 0.10% ECA sulphur limit
Says IMO decision creates competitive disadvantage for countries in ECA regions, wants equity with global sulphur restrictions.
- Mid-week bunker prices mostly up at Asian ports
Supplies of bunker material mixed at key Asian ports on Wednesday.
- Sunken bunker tanker brought ashore at Bangladesh
Two-member investigation committee was set up to look into the sinking of MV OT Moon.
- Bunker regulations must have 'regard for practicalities'
Legislation sometimes passed for 'idealistic reasons,' bunker conference told.
- Offshore operator chooses fuel efficient Wärtsilä system
DSCV vessel will use Wärtsilä Low Loss Concept and the ECOMeter.
- Hyundai Oilbank buys bunker fuel cargo amid tight avails
Company purchases 30,000 mt of 380 cSt product from Singapore for June delivery.
- Lanka IOC reports 14% drop in bunker sales revenue
Looks forward to 'a lot better' year in 2011-2012.
- Singapore-based trading firm acquires bunker tanker
Plans to acquire more newbuilds to operate in Singapore's bunker industry.