|OCTOBER 17, 2011|
- More deals expected in the shipping industry
The global shipping industry could see robust dealmaking activity in the coming years as weak freight rates caused by vessel overcapacity spur firms to consolidate to cut costs and get better access to capital, according to senior industry bankers.
- Baltic index rises to highest in 10 months
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose to its highest in over 10 months on Friday although the pace of gains slowed.
- Salvage teams get ready to empty oil from stricken ship
Salvage teams are preparing to empty oil from a stranded container ship off New Zealand's north-eastern coast as volunteers clean up crude washed onto beaches, the government said.
|OCTOBER 17, 2011|
- Horizon to delist Wednesday after sinking below NYSE's plimsoll line
- 'K' Line unveils intra-Asia China-Philippines-Indonesia service
- Asia-Europe rates below $700/TEU as SCFI falls 2.7pc after Golden Week
- Machinery stands by to pump oil from stricken Rena off New Zealand
- FMC to meet Shanghai Shipping Exchange to talk index confidentiality
- Qinhuangdao throughput tops 200 million tonnes in mid-September
- Jiangxi to build new US$7.5 million river terminal on lower Yangtze
- Changxing Island port wins state go-ahead to open 55 berths in 5 years
- Singapore GDP up 5.9pc in the 3rd quarter, 5pc rise expected for full year
- Singapore monthly retail sales fall 7.2pc, but up year on year
- India's September export growth up 36.3pc despite waning EU-US demand
- DP World opens CT community solar-powered station in Djibouti
- Panalpina opens fourth multi-product branch in northern India
- New DHL service links eastern Europe through Adriatic to Far East
- Kuehne + Nagel to acquire Drude Logistik in the heart of Germany
- Cathay Pacific September cargo falls 10.1pc, passenger volume up 3.5pc
- DHL Aviation appoints Globe Air Cargo in Bulgaria to drum up cargo
- Dachser expands air-sea capacity in central western Germany
|OCTOBER 17, 2011|
- SCI bags Greentech CSR Award 2011
- T. S. Lines launches dedicated service between West Coast of India & Arabian Gulf
- A. Ramakrishna takes charge as KPT FA&CAO
- Defence Ministry asked to expedite clearance of port projects
- Govt, pvt. firms to be involved in Indian Ports Global
- House panel proposes fast-track clearance of Major Ports' expansion plans
- KPT Chairman flags off solo motorcycle expedition from Kandla Port to Kolkata Port
- Krishnapatnam Port wins global port award
- Timber-loaded vessels having complete B/E only to be allowed into Kandla Port
- Vasan invites port workers to discuss core issues on Oct. 19
- Costs to soar after 15 pc hike in rail freight rates
- Coal imports may go up 114 mt this fiscal
- Govt announces Diwali bonanza worth `1,700 cr. for exporters
- Sensitive items imports surge 38 pc to `31,692 cr.
- Oilfield equipment moved from Dubai to Iraq
|OCTOBER 14, 2011|
- Yucatán container terminal upgrades facilities
The Yucatán Container Terminal, which is owned by Grup TCB, Spain's leading port terminal operator, has acquired three new cranes. This investment is worth about EUR 700,000. The c...
- Indian Railway revenues 10% up
The earnings of Indian Railways between April and September came to approximately INR 489 billion (about EUR 7.5 billion), marking an increase of 10% compared to the same period la...
- Tiaca commends TSA decision on screening inbound cargo
The ruling of the US Department of Homeland Security's Transportation Security Administration (TSA) not to proceed with a 31 December 2011 deadline for the 100% screening of cargo ...
- Global public rail investment at record high
Public budgets for railways around the globe nearly tripled around the globe between 2005 and 2010, from EUR 82 to EUR 224 billion, as the independent German consultancy SCI Verkeh...
- US Frozen Food Express Industries streamlines dry freight services
Frozen Food Express Industries, a leading temperature-controlled truckload and less-than-truckload carrier in the US, will no longer provide dry freight services via a dedicated fl...
- Freja and Orion conclude logistics agreement in Norway
Freja Norway has signed a contract with Finland's Orion Pharma. The agreement with Orion specifies that Freja will operate Orion's logistics in the Norwegian market, including rece...
- Schmitz Cargobull targets 75,000 vehicles by 2017
Production trebled, turnover doubled: In financial 2010/2011 (to 31.3.2011) Schmitz Cargobull exceeded its original forecast of 18,000 vehicles for the year by more than 100%, with...
- SDV Brazil to develop a long-term partnership with Helibras
Helibras (Helicópteros do Brasil), a Latin American helicopter manufacturer subsidiary of Eurocopter, a division of EADS, has signed two contracts with 14 Brazilian suppliers speci...
- JAL rolls out special-liveried aircraft
Japan Airlines (JAL) has rolled out a newly-painted Boeing B777-200 aircraft named JAL Eco Jet Nature, which is decorated with the logos of environmental projects supported by the ...
- Boeing finally delivers first B747-8F to Cargolux
Several weeks after the planned delivery date of 19 September (see ITJ Daily of that day), Cargolux Airlines finally took delivery of its first Boeing B747-8 freighter on Wednesday...
- Evergreen launching new intra-Asia services
Taiwan's Evergreen Line will realign its fleet deployment and launch new services in mid-October. The existing Hua Bei-Hong Kong-Indonesia link (HBI) will be reorganised into two f...
- Holger L. Schlote joins Kervan-Tur Logistics
Holger L. Schlote recently joined Kervan-Tur Logistics in Istanbul Tuzla as senior consultant and business development manager. He started his career in Germany in 1989, as an appr...
|OCTOBER 16, 2011|
- BSEE issues violations in Deepwater Horizon case
- ICS says flag states must enforce the rules
- Trinity Offshore christens two RAstar 3100 escort tugs at Gulfport shipyard
|OCTOBER 14, 2011|
- BTS freight transport index reports rise in numbers for August
- US rail freight numbers roll to positive side for week
- Port of Vancouver, USA welcomes maiden voyage vessel
- Standard & Poor's gives 'A-' rating to Port of Everett revenue bonds
- Port of Camas-Washougal hosting site development meeting
|OCTOBER 14, 2011|
- Container volumes suffer historic fall
What is usually the peak month for containers saw traffic slip for only the second time in 11 years
- Ports competition issues are set out in detail by OECD
Paper reflects contributions from 21 countries and outlines all potential areas of concern
- Food group cuts carbon footprint with switch from road to barge
Princes looks to shift 6,500 teu per year off lorries and onto the Manchester Ship Canal
- Rhine blockage costs estimated at $75m
Major part of the bill for the Waldhof capsize delays was absorbed by operators, NEA Transport survey finds
- Suezmax demurrage rates on the rise as Turkish Straits delays kick in
Owners negotiating prices of $50,000 per day if stuck in queues to transit chokepoint
- Stepping up to the wicket for a new generation
A group of retired seafarers is trying to encourage the young to join a 'forgotten profession
- 'Sulphur loophole' phrase is misleading
The cruise industry is operating within plain text of International Maritime Organization convention
- Maersk to employ armed guards
High-risk tankers first to get protection
- Pirate focus on crews will force P&I clubs to pay ransoms
Threat of pirates taking crew ashore is set to increase with implications for insurers
- Horizon Lines delists
Development is purely academic after mammoth recapitalisation
- DSD Shipping pays $28.5m for handymax chemical tanker
Deal for Socatra's 2006-built Maohi includes two-year charter-back
- Odfjell buys chemical tanker amid hopes of market improvement
Vessel will trade in South America
- Devil is in the detail for implementing EEDI
The Energy Efficiency Design Index raises some difficult issues and imminent decisions for shipowners
- Scrap that tanker
With values falling, it may be time to sacrifice time-served tonnage to demolition yards while they still have an appetite for scrap steel
- Tanker flat rates in 2012 to be based on highest ever bunker prices
Average fuel costs of $606.56 per tonne likely to push Worldscale rates up around 20%
- UK public sector pensions strike to disrupt services
Coastguard, Royal Fleet Auxiliary and ferries face one-day walkouts
- Court approves Korea Line rehab plan
Bankrupt dry bulk operator will issue new shares
- VLOC pair resold for $56.5m each
Vessels sell at significant premium to capesizes
- Sustainability of capesize rally remains uncertain
Market fundamentals do not add up, but owners and brokers enjoy the bull run while it lasts
- Freight rates fall below $1,500 per feu mark on transpacific boxship route
Price dip coincides with slowing Chinese export growth figures
- Beware of governments bearing gifts
China's Exim bank has become a very big player in global ship finance in a short time
- New rules on household heating oil set to reduce US import options
Not all refineries can produce the cleaner fuel for export on tankers
- Torm sells LR2 pair to Maersk
Danes swap ships
- Pirates free tanker and crew of 20
Nigerian gang releases Cape Bird off Lagos after five days' captivity
- New plan to get at Rena's fuel oil
Salvors to build platform on port side of stricken boxship
- Swire and Bluewind fined for Pacific Adventurer bunker spill
Penalty is a small portion of the clean-up cost, but judge notes limited damage to wildlife from the incident
- Evergreen closes $824m loan to finance newbuildings
Taiwanese line's deal will pay for earlier 8,000 teu orders due early in 2013
- ADM orders three energy efficient bulkers from Oshima
Deal comes after rumours in August of plan to buy 35 kamsarmaxes
|OCTOBER 14, 2011|
- Cruise orders seen remaining slow
ANALYST Robin Farley of UBS predicted today that cruise newbuilding orders are likely to remain below average for years ahead
- Six Hamburg Süd ships acquired en bloc
BROKERS told Fairplay today that German liner Hamburg Süd has sold six sister box ships en bloc to three Greek buyers for $201M
- Diamond S seals Cido deal
CONNECTICUT-based start-up Diamond S has closed its purchase of 30 MR product tankers from Hong Kong's Cido Shipping
- Ballast-standard bill advances to US Senate
A US BILL to install a single national ballast water discharge standard will be considered by the US Senate, after winning passage in the House
- 'K' Line goes piggyback
'K' LINE said today it is expanding intra-Asia box services by chartering slots on existing routes, rather than starting its own
- 'Drip-feeding' seen in coal fixtures
BROKERS told Fairplay today strong coal fixtures have balanced out slow ex-India iron ore fixtures for Supramaxes
- MR owners lurk in gulf
BROKERS told Fairplay today owners of MR tankers are trying to stay in the Persian Gulf in hope that rates are improving across that region
- Box rate pressure trickles down
PRESSURE on box ship charter rates is spreading from the depressed Panamax segment into smaller-size sectors
- Dockwise seeks waiver
DOCKWISE has filed a waiver request on a single covenant with its lender syndicate
- Maersk acquires TORM tankers
DANISH products tanker specialist TORM told Fairplay today it has sold two LR2 tankers to pool partner Maersk Tankers
- India to aid exporters
DELHI is offering exporters a scheme to help tide them over the slowdown in developed markets and rising input costs
- 'Savage' quarter buffets Fairstar
FAIRSTAR Heavy Transport has reported a "savage" reversal to losses in the latest quarter, caused by a sharp fall in revenues and higher costs
- Tanker runs aground
A RUSSIAN products tanker, Grigoriy Bugrov, has run aground on the northwestern shore of the Caspian after its hull was breached and engine room flooded
- Owners fined for Oz spill
QUEENSLAND'S government today welcomed a court's decision to fine the owners of a ship that spilled oil along the state's coast
- Capesize, Panamax rates surge
BULLISH coal and iron ore fixtures have resulted in new year-to-date highs for Capesize and Panamax rates
|OCTOBER 14, 2011|
- FMCSA Launches US-Mexico Trucking Program
The Department of Transportation on Friday approved one Mexican trucking company's request to operate on U.S. highways but placed a...
- Ceridian-UCLA Index Points Toward Recession
The Ceridian-UCLA Pulse of Commerce Index fell 1 percent in September, as truck industry fuel purchasing fell back in an...
- Lawmakers Push Marad to Publish Jones Act Waivers
Members of Congress are proposing to require the Maritime Administration to publicize the availability of Jones Act vessels when another...
- LaHood: Some GOPers Block Transport To Hurt Obama
Transportation Secretary Ray LaHood ripped into newly elected Republicans Friday for blocking efforts to launch a new infrastructure program, saying...
- Shanghai Exchange Offers Shippers New Tools
The Shanghai Shipping Exchange's announcement to introduce risk management tools to help shippers trade derivatives comes as the Federal Maritime...
- GOP Considers Replacing Fuel Tax, Mica Says
House Republicans are exploring options to bolster surface transportation funding, perhaps even replacing the current per-gallon gas tax with a...
- Gap to Shrink US Retail Network, Expand Overseas
Clothing retail giant Gap will close more than 100 of its Gap stores in North America as it expands overseas...
- Fesco, BLG Launch Auto Venture at Russian Port
Fesco and BLG Logistics established a Russo-German auto logistics joint venture at the port of St. Petersburg to handle imports...
- Threads of Change in the Air
The capital of Bangladesh is not associated with huge air cargo volume, but, in April, Lufthansa Cargo entered the market...
- Indexed Gains
I am having a hard time understanding why freight rate indices should not be incorporated into each and every ocean...
- Shippers, Carriers
It may finally be time to say that the fractured relations and frustrated feelings that grew out of the ocean...
- Inside Out Brokerage
Q: I work for a large corporation with several divisions and I manage our trucking division. Most of the divisions...
- Salvage Workers Can't Stop Rena Oil Leaks
Salvage crews battling to contain the environmental damage from the stranded ship Rena leaking oil off New Zealand were unable...
- "K" Line to Start China-Philippines-Indonesia Loop
"K" Line is starting a new weekly intra-Asia service that will run between North China and Southeast Asia. The...
- CSAV Revamps Two Asia-Latin America Loops
CSAV is reconfiguring its two services from Asia to Mexico and West Coast of South America and Central America, the...
- Containerized Trade Drops 6.3 Percent at Yokohama
International containerized trade through Japan's Port of Yokohama declined 6.3 percent in the first half of this year from a...
- NYSE to Suspend Horizon Lines
Note: This story corrects an earlier report that erroneously reported Horizon's refinancing left bondholders with a majority of the company's...
|OCTOBER 14, 2011|
- Containerisation International Awards luncheon rewards the best
- Bimco's 'blues' on boxship sector
- Salvage teams back on board Rena
- 'Highly commended' Turkon improve North Europe - Med coverage
- Trailer Bridge receives second delisting threat
|OCTOBER 14, 2011|
- IMS flirts with Shenghui spin
IPO may be in the cards for Chinese manufacturer as IM Skaugen closes in on final stage of newbuilding quest.
- Skaugen on track despite loss
Third-quarter deficit fails to upset IM Skaugen's appetite for multigas newbuildings but hurdles remain amid capital crunch.
- Dockwise firms Goliat pact
Dutch heavylift operator picks newbuilding to shift Sevan FPSO to Eni field off Norway.
- Horizon faces delisting
NYSE will bump US containership owner from main list to the over-the-counter arena as market cap falls.
- Star confirms Cargill deal
Nasdaq-listed owner comes clean about $5.6m charter for supramax bulker.
- 99 for Odfjell
Jan Hammer-led owner picks up five-year-old tanker from Japanese rival as it fleet nears three figures.
- Nobu unveils Octopus8 details
Freshly minted affiliate of Taiwanese shipowner Nobu Su spreads tentacles into floating LNG business.
- Turkish delays cut
Ships now waiting two days fewer in Bosporus after government eases transit restrictions.
- Boxship Courier grounds
German vessel gets stuck leaving port of Chittagong in Bangladesh.
- Lessons in shipping strategy
Buying when the price is right, the basics of supply and demand and sailing in the wake of the great navigators.
- Capital ousts Teekay
Evangelos Marinakis-led tanker owner replaces Teekay Tankers in Evercore Partners' conviction buy list.
- Evergreen funds 10 newbuilds
Taiwanese containership operator organises funding for ten of its Kaohsiung newbuildings.
- Schoeller gets its ship back
German tanker snatched off Nigeria has been released from pirate control.
|OCTOBER 14, 2011|
- Freight index growth
- Washington Notebook
- House bill seeks ballast discharge standard
The U.S. House Transportation and Infrastructure Committee on Thursday approved a bill that would establish a uniform standard for vessel ballast water treatment. The 2011 Commercial Vessel Discharges Reform Act (H.R. 2840) was approved by voice vo...
- NY Stock Exchange to suspend Horizon
The New York Stock Exchange said Thursday it determined that the common stock of Horizon Lines should be suspended prior to the market opening on Thursday, Oct. 20. The company expects to commence trading on the over-the-counter market that same d...
- Volunteers respond to New Zealand oil spill
An army of volunteers are helping clear the oil spill from the container vessel Rena which went aground on Astrolabe Reef near Tauranga, New Zealand last week. The government agency Maritime New Zealand said 17 of the 88 containers that have falle...
- J.B. Hunt reports record 3Q profit
J.B. Hunt Transport Services posted a record third-quarter profit of $68.7 million, ending Sept. 30, or a 5.9 percent increase compared to the same period last year. The Lowell, Ark.-based company said it had total operating revenue of $1.17 billio...
- Ex-Im Bank's record FY 2011 export financing
In preliminary fiscal year 2011 figures, the U.S. Export-Import Bank reported to exceed $32 billion in export financing, which supported about $40.6 billion in exports at more than 3,600 U.S. companies. Fiscal year 2011 ended on Sept. 30, and the ...
- Shanghai Shipping Exchange seeks to widen market
Zhang Ye, president of the Shanghai Shipping Exchange (SSE), said Thursday that his institution is seeking permission from Chinese authorities to open up its electronic platform for trading container freight rate derivatives to shippers and carrie...
- CII expands in Chicago
Freight forwarder Consolidators International (CII) has opened a new facility in the Chicago suburb of Wood Dale. The facility is located near O'Hare airport, and is convenient to Chicago's trucking network and rail depots. It will act as a key dis...
- Kux to manage Toll's Europe-Mideast sales
Toll Global Forwarding has appointed Gerd-Wolfgang Kux as regional director of marketing and sales for its Europe-Middle East region. Based in Zurich, he takes up his position on Jan. 1. Kux, 38-year forwarding veteran, previously held senior manag...
|OCTOBER 14, 2011|
- Bunker prices end week higher
Crude futures continue to surge on hopes of an economic recovery in the US.
- Panelists offer clean shipping solutions
Transparency to the public and collaboration with the supply chain were among the topics discussed at the workshop.
- Fujairah market firm
In Cape Town, deliveries were available for supply up to and including October 28.
- Strong gains in MGO prices in northern Europe
Avails continue to be tight in Rotterdam.
- New supplier in UAE
Al Arabia Bunkering Company delivering in Khor Fakkan and Kalba.
- Strikes disrupt Piraeus bunker operations
'We cannot load anything at the moment. It's a mess,' a player tells Bunkerworld.
- Appeal for calm after bunker spill provokes 'racial abuse'
Commentator calls for size of oil leak to be 'put into perspective'.
- New Russian trading firm established in Dubai
Will act as seller for physical supplier in Novorossiysk with plans to expand to Russian other ports.
- Week ends with bunker prices up at most ports
Supplies of bunker fuel mixed across key Asian ports on Friday.
- Shipping companies fined $1.2 million for bunker spill
But court hears spill 'did not constitute an ecological disaster as portrayed in the media'.
- Saudi Aramco sells 180 cSt parcel at six-year high premium
Amid tight avails of on-specification cargoes in Asian markets.
- Biofuels availability 'greatest challenge' for US Navy
Advances in green technology 'key' for US Navy to realise its Great Green Fleet objective, says research firm.
- 'Abundant' bunker avails in Far East Russian ports
More volumes pumped into local market following hike in export tax duty.
- Hyundai Oilbank building oil storage facility at Ulsan
Possible use of storage facility to contain marine fuel, says company source.
- Strong winds 'may' hamper oil recovery operation
'Unlikely' that there will be any pumping of oil from the grounded Rena on Friday, says Maritime New Zealand.