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07 April 2020 The on-line newspaper devoted to the world of transports 18:49 GMT+2

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The Business Timesweb site
FEBRUARY 25, 2011
Shipping News
  • Faster UPS service to come to Singapore
    UPS is expanding one of its freight services to 10 more Asian ports, including Singapore, it announced yesterday.
  • Crude tanker rates fall for 6th day
    Earnings from shipping Middle East crude oil to Asia, the world's busiest route for supertankers, fell for a sixth day after demand was met to haul February cargoes.

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Sched Netweb site
FEBRUARY 25, 2011
  • Drewry box index slips again as contract talks get underway
  • APM Terminals profit up 60pc as Yantian sales offset global loss
  • CMA CGM suspends cargo bookings to Libya
  • China expects its 2011 trade to increase 21pc to US$3.6 trillion
  • Europe's container growth to be moderate: Global Port Tracker
  • Two 13,100-TEU ships for Rickmers to join Maersk fleet
  • SeaIntel expects transpac demand to rise 15-20pc in 2011
  • Cocoa and rubber ablaze at Amsterdam Westport
  • US consumer confidence hits three-year high in February
  • New Zealand quake paralyses Lyttleton Port at Christchurch
  • Hamburg Sud christens newest 7,100-TEU box ship
  • Georgia accuses South Carolina saboteurs of aborting Jasper Terminal
  • Toll Holdings half-year profit up 53pc to US$165 million
  • Flynt group rebrands to Barloworld Logistics in HK, China
  • Panalpina to take over Norway's Grieg Logistics
  • Jilin to build US$486.3 million agricultural logistics park
  • Cathay lauds HK budget for commitment to global transport
  • FAA investigates Denver airport after runway breaches
  • Forwarders can now sue airlines after statute of limitation deadline

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Exim Indiaweb site
FEBRUARY 25, 2011
  • LNG demand has vessel & freight rates zooming ahead
  • Wishlist of an Indian shipping co. to the Finance Minister
  • EU order defining ayurvedic products a trade barrier, says industry
  • Biplav Kumar assumes charge as Deputy Chairman of MPT
  • JNPT Chairman addresses naval architects
  • MPSEZ enters 1-million-TEU Club
  • Ro-ro service trial run carried out at Vallarpadam ICTT
  • Rlys allows mining firms to fund last-mile links
  • Vikas Anand takes charge as COO of DHL (India)
  • Exports will surely touch $ 500 bn by 2014-15: Fieo
  • Govt seeks to double exports to $ 450 bn by 2013-14
  • Leather sector urged to take advantage of Central programme

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International Transport Journalweb site
FEBRUARY 23, 2011
  • Rotterdam port expansion entering sandy stage
    Maasvlakte 2, the port of Rotterdam's expansion scheme, is steadily taking on more shape. Some 190 million cbm of sand have now been sprayed onto the site. The new land will be sho...
  • Managerial changes at Imperial Reederei on 1 July
    The Imperial Reederei group is set to reshuffle its management on 1 July. The inland shipping service provider has named a successor for Karl-Heinz Bellmer, who is stepping down fr...
  • K Line announces new Asia-east coast of South America service
    The Japanese shipping company Kawasaki Kisen Kaisha Ltd (K Line) is launching ECSA, a new bi-weekly service from Asia to the east coast of South America that will be operated...
  • Augustin Quehenberger Group overshoots 2010 sales target
    The Austrian logistics service provider Augustin Quehenberger Group reported a turnover of EUR 371.8 million in 2010, thus overshooting its projected target of EUR 360 million by a...
  • GAC extends global agency network to Bahamas
    GAC's global shipping network has been further strengthened with the signing of an alliance agreement with Bahamian agency Elnet Maritime Co. Ltd. Under the terms of the pact, a co...
  • Damco: new office in port of Le Havre
    AP Moller-Maersk's logistics unit Damco has opened a new office at the port of Le Havre (France), a development that gives it a good chance of competing against other freight forwa...
  • Two more container leviathans from Rickmers for Maersk
    Two more 13,100 teu containerships have been built for the German Rickmers Group in Ulsan (Korea). The "Leo Rickmers" and the "Scorpio Rickmers" will be charter...

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Marine Logweb site
FEBRUARY 24, 2011
  • Port of LA plugs in three cruise lines to shoreside power
  • Chuck Raymond steps down as Horizon Lines cops plea in price fixing case

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World Wide Shipperweb site
FEBRUARY 24, 2011
  • Port of Portland Compass honor presented to Greenbrier executive
  • Navios Maritime Holdings earns Panama Excellence award
  • Cargill delivers millions to United Way charities
  • ATA truck tonnage index climbs during month of January
  • Coast Guard posthumously awards Meritorious Public Service medal

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Lloyd's Listweb site
FEBRUARY 24, 2011
  • China offers to double Greek finance pledge to $10bn
    Beijing confirms its banks are willing to expand existing $5bn facility 'as long as there is demand from owners'
  • Middle East unrest throws spotlight on risk for tankers
    With political turmoil in Egypt and neighbouring countries, shipowners need to remain vigilant
  • MR product tanker rates double in one week
    Medium range product tankers on the transatlantic trade have seen rates double in a week, after an influx of fresh cargoes bound for West Africa slashed the number of vessels waiting for employment, providing a much-needed injection of confidence for owners struggling in the volatile market
  • China to be top Asian gas market
    China's gas market is one of the fastest growing in the world, according to the International Energy Agency
  • Australia set to drive growing LNG supplies
    The majority of China's growing LNG imports are shipped under long-term contracts from LNG exporters in Australia, Malaysia, Indonesia and Qatar
  • China puts its foot on the gas
    Nation's hunger for energy does not look like abating but huge reserves of shale gas in its interior may derail rising LNG import demand
  • Updated: Latest ship movement from Lloyd's List Intelligence's APEX service
    All Libyan ports shut but there are reports of some crude ports partially working
  • Grand China faces charter claim
    Greek shipowner launches arbitration proceedings against group
  • Chinese finance a worry for shipping
    Prospect of more tonnage flooding bulker and tanker sectors would drive rates down to rock bottom
  • BDI flattens as inquiries dwindle
    Baltic Dry Index falls 11 points to 1,242 today
  • Stuck in a jam
    UK's farcical attempts at evacuating Britons from Libya demonstrates that countries need a government-run marine emergency service
  • Teekay Offshore Partners full year profit shrinks
    Full-year net profit down to $78.9m from $135.63m
  • Derivatives boost Teekay LNG Partners' bottom line
    Company returns a net profit of $92.9m for full year 2010
  • Teekay Tankers eyes vessel buys
    Says 50% of its vessel operating days would rake in an average time charter equivalent rate of $24,500 a day
  • 'No clearance' for Libya evacuees to board Greek tanker
    Minerva vessel was set to pick up stranded Greek nationals after a request for help from the country's authorities
  • Teekay boss predicts more gloom for spot tanker market
    Glut of vessel deliveries will hit demand
  • Yildirim boss reveals CMA CGM investment was a 'good fit'
    Groundbreaking $500m deal is part of group's long-term strategy of private equity investment in the maritime sector
  • Libya rescue dash offers fillip for cash-strapped Greek ferry lines
    Vessels stand to earn a minimum of $344,370 per day on charter, although some are known to be on higher rates
  • Bleak outlook for dry bulk and tanker sectors
    Fundamentals in both markets look like "a classic shipping recession" says Clarkson Research Services head
  • Coustas warns over demise of KG financing
    Boxship owners will need to find up to $2bn per year in equity finance
  • Precious plans $450m bulker spree
    To buy about 20 secondhand handymax and supramax vessels
  • Shipping still attractive to private equity funds
    But investors want discounts on asset values, finance executives tell Marine Money forum
  • Grindrod reinstates order for two product tankers
    Shipping and logistics group to take delivery of ships after settlement reached over contractual dispute
  • Naval forces should not be so quick to release pirates
    How can countries such as Denmark satisfy itself about the identity of pirates from a country that has no government
  • Southampton set to boost box handling capacity
    Construction of '80m berth to add up to 750,000 teu of handling capacity at the port
  • Warning for container sector as GDP hit by general slowdown
    Growth in OECD countries in 2010 increased by 2.9% compared with 2009, which saw a fall of 3.5% from 2008
  • NSF steps into ship finance breach
    Recent Genmar deal confirms US-based fund as a leading source of alternative capital, stepping in to offer shipowners support since 2008
  • Injecting a bit of zest into coastal shipping industry
    As UK shipping minister Mike Penning declares his passion for the coastal trades, Lloyd's List suggests a few areas in need of his urgent attention

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Fairplayweb site
FEBRUARY 24, 2011
  • EU NAVFOR seeks more ships
    THE Indian Ocean would need 83 destroyers instead of just 6 to respond to piracy effectively, Major General Buster Howes, operations commander of EU Navfor told Fairplay today
  • Navy ship guards closer?
    A RAND Corp senior policy analyst has told Fairplay that the killing of two US hostages by pirates this week might lead to military guards at sea
  • Teekay expands loans unit
    NYSE-listed Teekay Corp today revealed its third investment in ship mortgages, further expanding its exposure to the VLCC sector
  • LNG rate climb seen on uprisings
    NORTH Africa's political upheavals could cause a gas supply cut that would push up LNG carrier rates, Arctic Securities warned today
  • Libyan chaos forces oil rethink
    EUROPEAN importers are likely to start shipping oil from the US Gulf and West Africa if political turmoil continues to limit exports from Libya, analysts said today
  • Repsol pledges free choice on agents
    ENERGY giant Repsol today said it has imposed no curbs at the Spanish terminals it manages on which shipping agent a shipowner may pick
  • Transpetro expects exoneration
    TRANSPETRO, Latin America's largest shipping company, said it expects to be cleared by a Brazilian tribunal of overpayment allegations
  • Teekay adjusted losses widen
    TANKER giant Teekay Corp today reported higher losses than anticipated after its Suezmax and Aframax rates fell
  • Strike slows Bilbao boxes
    A ROAD haulier strike has caused severe box delays at Bilbao, a Spanish operator told Fairplay today
  • Genco earnings fall short
    NYSE-listed bulk player Genco has reported lower profits than expected and faces significant spot market exposure in 2011
  • Baltic thickest in 24 years
    VERY COLD Baltic weather has left the most sea surface icebound since 1987, according to a report by the Finnish broadcasting company YLE
  • Wilson's earnings rise
    RISING freight volumes and rates have helped Norway's Wilson record a rise in fourth-quarter profits to 32.7M kroner ($5.8M), from 26.5M kroner a year earlier
  • Sembcorp shares drop on financial results
    SHARES of Singapore's Sembcorp Marine dropped today even though the world's second-biggest rig builder declared profits last night
  • Baltic Trading predicts clear sailing
    BALTIC Trading, the spot-market drybulk offshoot of Genco Shipping & Trading, said today it has no need to tap equity markets after amendments to its credit facility
  • Bulgaria exits port deal
    BULGARIA has cancelled a ¥37Bn ($451M) loan from a Japanese bank that was to pay for building box terminals at the Black Sea ports of Bourgas and Varna.

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The Journal of Commerceweb site
FEBRUARY 24, 2011
  • Con-way Freight Helps Capture Alleged Terrorist
    Alert truck terminal managers in Texas helped federal authorities identify a suspected terrorist who allegedly planned to attack multiple U.S....
  • Horizon Lines to Sell Logistics Unit
    Horizon Lines said it is in discussions to sell its logistics unit and expects to report lower fourth quarter results...
  • Horizon Pleads Guilty, to Pay $45 Million
    Horizon Lines agreed to plead guilty and will pay $45 million in fines for antitrust violations in the Puerto Rico...
  • NYK Boosts Trans-Atlantic Rates
    NYK Line plans to increase its trans-Atlantic freight rates on cargo moving in both directions as of April 1. ...
  • US Judge Fines Greek Company $2.4 Million for Pollution
    A federal judge in Baltimore on Wednesday fined a Greek ship management company $2.4 million and imposed two years probation...
  • Echo Global Logistics Sales Rise 64 Percent
    New customers and higher shipping volume pushed total revenue to $426.4 million at Echo Global Logistics in 2010, a 64.3...
  • Coast Guard to Change Ship Rebuilding Rule
    The Coast Guard is proposing changes in regulations to clarify the requirements for rebuilding Jones Act ships at U.S. shipyards. ...
  • Green Reefers Loss Widens
    Norway's Green Reefers, a refrigerated cargo ship operator, reported fourth quarter 2010 pre-tax losses widened to $24 million from $18.7...
  • MSC Hikes India-Europe Rates
    Mediterranean Shipping Company announced a general rate increase on the westbound trades from India to Europe and the Mediterranean, the...
  • UK Approves Southampton Port Expansion
    The UK port of Southampton received government approval for a $130 million project that will enable it to handle the...
  • Seaspan Seeks 10 New 10,000-TEU Ships
    Container shipowner Seaspan said it is negotiating to order up to 10 new ships that would carry up to 10,000...
  • Durable Goods Orders Fall But for Aircraft
    The Commerce Department said a 27 percent spike in commercial aircraft sales pushed total durable-goods orders up 2.7 percent in...
  • UASC Plans HQ Move as ILA Organizes
    United Arab Shipping Co. plans to move its U.S. headquarters and 80-plus jobs from New Jersey to the South Atlantic...

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Containerisation Internationalweb site
FEBRUARY 24, 2011
  • Lyttelton hopeful of early resumption
  • Transpac rates plunge amid warnings of major contract reductions
  • Libya cargo operations halted
  • Rickmers takes delivery of more Maersk charters
  • Behemoth tester for Felixstowe

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TradeWindsweb site
FEBRUARY 24, 2011
  • Globus returns to profit
    George Karageorgiou applauds ticker's migration to Times Square as Greek bulker owner sheds red in the fourth.
  • Horizon shares hammered
    New York-listed liner outfit's stock price tumbles 10% following DoJ shake down, executive shake up and revised earnings forecast.
  • Horizon's double whammy
    CEO Chuck Raymond packs his bags for retirement as US liner operator agrees to shell out $45m to squash price fixing probe.
  • Firms takeover Triton
    Pritzker clan sells controlling stake in US container lessor Triton to New York finance duo.
  • Fire Island splash
    New York ferry operator anticipates sizzling summer with order placed at Gladding-Hearn.
  • CMA CGM freezes calls
    World's third-largest container line cancels calls in Libya but continues to accept bookings amid clashes.
  • Trouble tonic
    Unrest in Libya and Algeria could provide a further spark for LNG spot market, Arctic says.
  • Helix hit by loss
    Owen Kratz talks up prospects in US Gulf as New York-listed subsea firm falls flat in the fourth.
  • Teekay steps on the gas
    Headline result moves up but New York listed gas carrier operator sees share price slip in the other direction.
  • Bigger a better bet for Dof
    Oslo-listed offshore owner tips improved 2011 performance as 10 newbuildings wait in the wings.
  • Trai Thien hunts cash
    US arm of Southeast Asian mini-bulker operator races to squash competition as it hunts for cash to fund six newbuildings.
  • Libyan danger money
    KG Jebsen accepts more than double market rate to take an aframax into crisis-hit country.
  • KLC a KG headache
    But veteran Tobias Konig asks Germans to choose internal solution over Wall Street to preserve system.
  • Teekay Corp lags Street
    Bjorn Moller-led shipowner sees adjusted bottom line fall further into the red than forecast in Q4.
  • Flopec extends TEN twins
    New York-listed tanker owner secures two more years of work for panamax brace amid hope flexible rates can spur its stock price.

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American Shipperweb site
FEBRUARY 24, 2011
  • Pritzker Group acquires PECO Pallet
    PECO Pallet Inc. said it has been acquired by The Pritzker Group, a private investment firm owned and controlled by J.B. Pritzker and Tony Pritzker. The Yonkers, N.Y.-based pallet-rental company said the deal provides it with "substantial equity ca...
  • Trade groups back Bersin confirmation
    A group of 11 trade associations on Wednesday wrote Senate Finance Committee leaders urging a favorable recommendation to confirm Customs and Border Protection Commissioner Alan Bersin, whose future as head of the agency remains in limbo. Presiden...
  • Trucking executive calls for improved port access
    Dick Coyle, president of Devine Intermodal in West Sacramento, Calif., stressed a need for increased investment in ports to the House Transportation and Infrastructure Committee. "We have terminals up and down the Central Valley of California and o...
  • CSX opens Ohio terminal
    CSX said it has opened its Northwest Ohio Terminal, acornerstone of the double-stack National Corridorfreight rail corridor between East Coast seaports and the Midwest. Located near North Baltimore, Ohio, the new facility employs more than 200 ful...
  • U.S. truck tonnage jumps 3.8%
    Freight volumes for U.S. trucking companies surged 3.8 percent in January from December, according to the monthly tonnage index published by the American Trucking Associations. The seasonally adjusted survey of ATA members' business activity also ...
  • CSX can challenge Alabama fuel tax
    A U.S. Supreme Court ruling Tuesday clears the way for CSX Corp. to challenge Alabama''s fuel tax. Alabama imposes sales and use taxes on railroads when they purchase or consume diesel fuel, but exempts their main competitors -- interstate trucker...
  • CSAV president to step down
    Jaime Claro Valdes has resigned as president and director of Chilean container shipping company CSAV, according to a brief letter sent to the Chile''s securities commission and posted on the company''s Web site. Valdes took the company helm in Nov...
  • Maersk order caps big ship brigade
    China Shipping in January unveiled the biggest containership to hit the seas in 2011, the 13,296-TEUCSCL Star,disrupting a five-year trend of the biggest containerships in operation being delivered to the fleets of Europe's Big 3 container lines -...
  • Supreme Court ruling
    CSX can challenge Alabama fuel tax A U.S. Tuesday clears the way for CSX Corp. to challenge Alabama''s fuel tax. Alabama imposes sales and use taxes on railroads when they purchase or consume diesel fuel, but exempts their main competitors -- inte...
  • ComPair Data analysis

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The Scandinavian Shipping Gazetteweb site
FEBRUARY 24, 2011
  • Europe's longest ice road reduces demand for ferry transportation
    After the opening of the 25.5 km long official ice road between the Estonian mainland and Hiiumaa ' it is said that it is the longest of its kind in
  • Spar Shipping sells Ven service
    Spar Shipping, Copenhagen, has sold its service from Copenhagen to the Isle of Ven in Oresund to Ventrafiken AB. The sale includes the passenger vessel Jeppe (flying the Swedish flag
  • Nordic LNG charters LNG carrier
    Nordic LNG has signed a contract with the Dutch shipping company Anthony Veder covering the transportation of LNG from the production plant at Risavika, Norway. The plant has an estimated

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The Bunker Bulletinweb site
FEBRUARY 24, 2011
  • Fujairah market firms
    Fuel oil avails still reported to be limited in Durban.
  • Libyan protest rocks crude market
    Political protests have spread to Libya and Bahrain causing uncertainty in the crude market.
  • Bunker prices soar in key ports
    Many bunker suppliers unable to give price indications due to market volatility.
  • Bunker barge returns to service on the Thames
    Cockett Marine Oil boosts Thames operation with vessel coming from sister company in Rotterdam.
  • 'Make or break' time for IMO on GHG deal
    Head of climate and environment at Maersk says IMO could be sidelined by UNFCCC if July meeting fails to approve efficiency measures.
  • New delay on IMO regulations for gas-fuelled ships
    Target date for completing work on safety code for ships using LNG as fuel pushed back, leaving little time before stringent 2015 ECA requirements take effect.
  • Promotion at Dan-Bunkering
    Accountant Michael Jacobsen has been promoted to Business Controller.
  • Bunker prices react to surging crude oil
    Market responding to the tension in Middle East, says bunker trading manager at Gemoil.
  • Taiwanese port faces 'tight' 380 cSt supplies
    Supplier temporarily suspends offering the grade to the spot market.
  • Singapore launches initiative to encourage marine employment
    $2.3 million programme to train crew for bunker tankers and local passenger vessels.
  • Mass flow meter provider to host bunker seminar
    Seminar hopes to address ship owners' unanswered questions about the coriolis technology and its certified bunker system.
  • Sri Lankan state oil company to re-enter bunkering business
    Ministry of Petroleum Industries ordered CPC to commence bunkering operations at the 'earliest possible instance.'

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