|JULY 25, 2011|
- Baltic Exchange's main index continues to fall
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for an 11th straight session last Friday as a firm panamax market could not make up for weakness in the capesizes.
- Iconic Polish shipyard cashes in on wind power
The Gdansk Shipyard, where the Solidarity movement that ended the communist era in Poland was born, is now trying to lead another Polish revolution ... in offshore wind power.
- German KG funding takes a big hit in Q1
Investment in German funds that finance a fifth of the world's container ships and half the nation's own fleet plunged 53 per cent in the first quarter as freight markets slumped and banks curbed lending.
|JULY 25, 2011|
- Hong Kong Shippers Council: Fix harbour congestion ahead of peak season
- Ocean freight rates continue to decline across major trade routes
- Port of Qingdao's throughput increases 12.9pc in first half of 2011
- Le Havre wins back Japan link as Hanjin, NYK resume after years of absence
- TUI ponders delay of Hapag-Lloyd equity stake sale until prices improve
- CSCL, Hapag-Lloyd, 'K' Line, NYK Line invest in Far East/Africa loop
- European Shippers Council seeks incentives, not taxes for UN eco-ships
- Chongqing city subsidises THCs to boost market share in regional box trade
- Shandong cuts highway tolls as Beijing cracks down on excessive collections
- China's Guigang port throughput up 23pc in first five months
- CMA CGM-OOCL's Epic loop back to Port Said after cutting it in May
- Union Pacific profit up 10pc to US$785 million as intermodal slips 1pc
- CSX second quarter pre-tax profit increases 22pc as revenue rises 13pc
- UK's London-Midlands HS2 rail link called 'political vanity project'
- Dachser opens Singapore office to serve south and south east Asia
- Schenker dismantles its North American air fleet, closes Toledo cargo hub
- United Continental second quarter profit down 5.5pc to US$577 million
- Beihai Airport first half cargo up 60.2pc, seafood accounts for 82pc
- AirBridgeCargo Airlines extends Frankfurt's Fraport contract until 2016
|JULY 25, 2011|
- ABG Shipyard scouting for partner to enter platform building segment
- GDL's consolidated net jumps 138 pc in Q1
- 17.8 pc rise in veg oil imports
- Anti-dumping duty on Japanese, Chinese gas
- Coffee exports up 55 pc in June
- Engineering exports projected to grow 27pc
- INTEXPO: Indian textile exhibition in Malaysia from Nov. 22-24
- Singapore's imports from India jump 48 pc in H1
- US firms gear up to tap opportunities in infra sector
- 'APM Terminals Mumbai (GTI) supporting trade & neighbouring terminals'
- Captive port policy puts private operators on edge
- DP World Cochin berths Maersk Line's largest vessel to call India
- Kerala govt seeks revised feasibility report for Azhikkal port
- KoPT to renovate, enhance facilities
- Asset sales by SMEs not to attract capital gains tax
- Developers seek govt nod to shelve SEZ plans
- Govt gives go-ahead to 31 FDI proposals
- Govt nod for importing 40,000 t of rubber
- SEZ tax sops removal to hit exports: Assocham
- TN farmers bracing for lukewarm egg exports
- Trying to get concessions on tax refund rates: Fieo
- Agility bags wind power logistics contract in Sri Lanka
- Complex intercontinental shipment of tunnel boring machine deftly executed
- GPLN offering heavy lift seminars
|JULY 22, 2011|
- ABS set to release update of Crew Habitability Guide for Workboats
- Davie Canada to complete three Cecon newbuilds
- Sembcorp Marine shipyard files claim against Ernst & Young
- New spill response role for two Hornbeck Offshore MPSV's
|JULY 22, 2011|
- Bellingham Port Commissioners OK Scotty Browns airport lease
- US rail freight traffic posts gains during week
- K Line joining service calling Far East/India
- Coast Guard investigating Columbia River vessel allision
- Crystal Cruises earns 16th best cruise line honor
|JULY 22, 2011|
- West Africa suezmax fixing activity hits two-year high
But substantial fleet growth since 2009 kills earnings opportunities for owners in June
- Cooling Asian inflation could shrink tanker rates
Tanker markets could face extremely difficult second half of the year if plans to cool Chinese inflation hit the Asian economy and reduce crude and oil products imports
- Torm hires South Korean kamsarmax
Torm understood to have chartered a South Korean kamsarmax bulk carrier at $12,500 per day for a short period contract
- South Korea sets iron ore record
South Korea imported a record-breaking volume of iron ore in June
- Capesize rates find floor but more cargo is needed
Continued slide attracts Rio Tinto and BHP Billiton in, but more cargoes still needed
- Capesizes search for green shoots
Severe overcapacity set to continue limiting ability of capesize owners from earning acceptable returns
- Squeezed from all sides
The shipping finance challenge looks daunting
- Shipping companies at risk of falling foul of UK's new Bribery Act
Specific offence of bribing a foreign public official may prove a challenge
- Illuminating future navigation
UK Shipping Minister Mike Penning has launched the lighthouse authorities' new marine aids to navigation strategy, 2025 and Beyond. It appears flexible and realistic
- China shippers call for mining companies to reconsider newbuilding plans
Although not named, Vale is thought to be the target of shipowners association's comments which claim cargo owners are 'monopolising' the dry bulk market
- Agreement on cutting CO2 is a truly major achievement
IMO has demonstrated that it is eminently capable of delivering a global solution for shipping
- Gothenburg plans to start up LNG fuel terminal by 2013
Sweden's important bunker hub aims to offer gas alternative two years ahead of sulphur emissions clampdown
- Gothenburg to strengthen rail links to box terminal
Bidders are lining up for the Skandia Container Terminal concession. Whoever wins will want to expand it
- K+N to purchase Dutch perishable goods agent
J.van de Put deal will extend Kühne + Nagel's global 'fresh-to-door' concept
- More box lines impose congestion surcharges at Jawaharlal Nehru
Hapag Lloyd will avoid the port altogether, re-routing vessels to Mundra
- Boxship orders delayed as lines struggle to halt freight rates slide
Newbuilding market has 'switched off'
- UK ship detentions creep up
Three foreign flag ships were detained in UK ports during June failing port state control inspection, according to statistics released by the MCA
- Ports fear cost and security of wireless internet
ICSW report finds needs of seafarers to communicate with family were deemed peripheral to port operations and planning
- Transport workers' body condemns European Commission jobs report
Task Force has failed to deliver radical measures needed to avert a maritime skills crisis, says ETF
- The lemmings change direction
With carriers heading for another year of cumulative losses, owners are likely to be very circumspect about buying new tonnage in the short term
- Passage to Africa
Two recent developments chronicled by Lloyd's List herald more promising growth for the continent
- Eurotunnel says hauliers' fears for SeaFrance helped fuel 21% rise in truck volumes
Truck shuttle volumes surge to 609,000 units for the first six months of 2011, as passenger shuttles saw cars edge over the 1m mark
- Hong Kong government says it has 'open mind' on congestion solutions
Portside land could ease congestions but feeder operators unable to pay market price
- Feeder operators reject River Terminal Trade proposal
Makes sense in theory but underlying economics spell ruin
- Pirates masquerade as authorities in attempted tanker hijack
Brilliante Virtuoso now responsibility of Salvor Five Oceans
- Star Reefers predicts more scrapping
Ships as young as 18 years may go to breakers as box lines encroach on reefer trades
- Stratos acquires Blue Ocean Wireless
Operational assets of US GSM services provider bought by Inmarsat company
- Dyna-Mac lifted by Keppel's bullishness on FPSO sector
Singapore-listed maker of topside modules sees share price jump 4% despite lacklustre results
- MOL upbeat on pure car carrier market
Noticeable pick-up since June could lead to tightness in the market over six months
- Economou projects further slump in bulker values
DryShips sells another four units citing 'discrimination' against older vessels
|JULY 22, 2011|
- Hapag deal reported in limbo
UNCERTAINTY over the planned float or sale of a major share in German box line Hapag-Lloyd has increased amid reports that a key suitor has withdrawn from negotiations
- Davie bids just in time
DAVIE Canada, with backing from its new owner, beat today's deadline to bid for the Canadian government's C$35Bn ($37.06Bn) shipbuilding sweepstakes
- Mitropoulos clarifies remarks on Libya, piracy
THE IMO sought today to clarify statements made by secretary-general Efthimios Mitropoulos that were seen in one news account as suggesting that anti-piracy military forces had been diverted to support of Libyan rebels
- Greek ferry strike postponed
GREEK seamen told Athens today they will not strike during the rest of the summer to oppose government plan to cut their pensions
- Canadian spill fears rise
CANADA'S response capability for oil spills has become a US congressional issue
- JNPT slams congestion levies
INDIA'S Jawaharlal Nehru Port Trust has accused container lines of unfairly exploiting scheduled upgrades by imposing congestion surcharges on shippers
- Crew rescued from listing ship
SIX CREW members were rescued by helicopter today after they reported to French authorities that their general cargo ship had taken on a heavy list
- Bulker analyst hits 'sell'
WELLS Fargo analyst Michael Webber today graded down four drybulk stocks - Diana, Genco, Eagle and Excel - to 'underperform', the equivalent of 'sell'
- Star Reefers tells 2Q losses
THE FALL in spot freight rates plus an impairment charge against its older ships added up today to second-quarter losses for Star Reefers
- Safe Bulkers profits fall
GREEK shipowner Safe Bulkers has announced a 22% year-on-year drop in net income drop for the second quarter
- Putin, senator rev up row
RUSSIAN Prime Minister Vladimir Putin's disclosure that the US is trying to cancel import restrictions on automobile parts shipments has triggered a blast from Michigan
- Worker dies after Subic yard fall
INVESTIGATIONS are continuing today into the death of a worker at Hanjin HI & Construction Philippines' yard at Subic Bay
- Daewoo pay deal agreed
DAEWOO Shipbuilding said today managers and unions have accepted a pay accord
- Oz cargoes to Korea seen surging
MARTIN Ferguson, Australia's energy minister, said today Oz plans to supply more LNG and other resources to South Korea in a push to become Seoul's key energy partner
- Keppel's profits corrected
KEPPEL said today its 1Q2011 profits were S$384.86M ($318.24M), up 9.3% year on year
|JULY 22, 2011|
- YRC Worldwide Closes on Restructuring
Troubled trucking giant YRC Worldwide completed its $500 million financial restructuring Friday, cementing long-term credit terms and labor concessions that...
- FAA Partial Shutdown Spurs 4,000 Furloughs
Up to 4,000 federal employees will be furloughed and $2.5 billion in airport improvement work will stall midnight Friday after...
- MSC to Hike India-South Africa Rates
Mediterranean Shipping Company will apply a general rate increase on the trade from India to South Africa as part of what...
- Top Railroads Hit Highest Employment Since 2009
The seven largest freight railroads added 1,818 workers to their U.S. payrolls from mid-May to mid-June, the largest increase this...
- Mobile Handles Record Export Coal Shipment
The largest export coal shipment ever handled by the Port of Mobile sailed early Friday, highlighting the Alabama State Port...
- Port of Tampa Spends $12.9 Million to Expand
The Tampa Port Authority's board this week agreed to spend $12.9 million to expand the port's container-handling capacity and inland...
- DB Schenker to Ground US Freighters
DB Schenker said Friday it will shut down the U.S. domestic air cargo network operated for years by BAX Global,...
- YRC Worldwide to Name New CEO
When YRC Worldwide's new board of directors meets for the first time today, job number one will be naming a...
- Senior J.B. Hunt Executives Retire
J.B. Hunt Transport Services reported several changes to its executive management team, including the retirement of Paul Bergant, the intermodal...
- YRC National 'Back in Black' With $10.6 Million Profit
Long-haul less-than-truckload operator YRC National rolled back into the black in the second quarter, reporting an operating profit of $10.6...
- YRC Contract Pricing Rising Faster, Zollars Says
YRC Worldwide hiked its contract rates about 4 percent in the second quarter as the less-than-truckload carrier hauled more long-haul...
- Port of Cochin Handles Record-Size Container Ship
The largest Maersk Line container ship ever to call Indian shores arrived Thursday at the Port of Cochin, a major...
- IMS Worldwide's Spencer on Rise of Intermodal Shipping (Video)
Curtis Spencer, president of IMS Worldwide, and Peter Tirschwell, senior vice president of Strategy for UBM Global Trade (parent company...
- Star Reefers Reports $11.3 Million Loss
Norway's Star Reefers swung to an $11.3 million second quarter net loss from a year-earlier profit of $3.8 million, as...
- Hanjin Resumes Japan-Le Havre Service
The Port of Le Havre said Hanjin Shipping resumed service between Japan and the French port on July 15 after...
- KCS More Than Doubles Profit to $70.7 Million
Kansas City Southern, the smallest of North America's Class I railroads, saw profit leap by 104 percent in the second...
- Stagnant Rail Freight Traffic Remains Below Peak
Freight volume for major North American railroads fell 0.3 percent in the week ending July 16 compared to the same...
- "K" Line Joins Far East-Indian Subcontinent Direct Loop
"K" Line will join a vessel-sharing agreement next month that is currently operated by Evergreen Line and Simatech on the...
- YRC Worldwide Cuts Loss to $39 Million
YRC Worldwide, in the midst of a restructuring aimed at stabilizing the trucking company's finances, reported a $39 million loss...
- Distributing Change
Logistics costs are rising, but where is the response from shippers in terms of truly changing fundamentals of their distribution...
- Tinker to Evers, Not a Chance
Q: We recently gave a shipment to a 3PL (broker) we use regularly. The broker then gave the shipment to...
- Rational Exuberance
Ocean carrier executives must be looking at railroads and trucking companies and wondering if they got in the wrong business....
- APL Sets East Asia-US East Coast Surcharge
Singapore-based container carrier APL will impose a peak-season surcharge on all cargo shipped from Asia and the Middle East to...
- Container Corporation of India's Profit Up 21 Percent
State-owned Container Corporation of India boosted first quarter net profit 21 percent from a year earlier to $52 million,...
- Committee Witnesses Endorse Transport Bill
The proposed two-year $339 billion surface transportation bill received the unanimous support of witnesses of the U.S. Senate Environment...
|JULY 22, 2011|
- Spiralling Hong Kong port congestion 'must be dealt with before peak season'
- Weather plays havoc with Australian services
- China's PMI at 28-month low
- Greece gets its 'exceptional and unique solution'
- FESCO still on acquisition trail
|JULY 22, 2011|
- Lazard praises DRYS deal
Equity analyst says discount bulker sale will have little impact on George Economou-led owner's earnings despite $107m hit.
- Pirates attack in Aden
Somali gang target Ethiopian ship as it passes through the IRTC.
- Hornbeck seals spill pact
US-listed offshore owner tosses PSVs into Marine Spill Response Corp's Deepwater Horizon-inspired clean-up venture.
- Oslo under attack
RS Platou evacuates Norwegian office as explosion rips Prime Minister's office and oil-rich nation's Ministry of Petroleum.
- CCM lowers its sights
Analyst Michael Pak slices dry-cargo and tanker rate forecasts to levels which will tip three more owners into the red.
- Mombasa strike off
The dockers' union at Kenya's main port has withdrawn a threat to strike over plans to privatise the port.
- Hapag IPO still on
German container line remains on track for share sale despite report of delays, shareholder TUI says.
- Mermaid lures $26m deal
Thai drilling contractor with links to John Fredriksen snaps up lucrative Indonesian deal.
- Wells downs dry giants
Genco, Eagle, Diana and Excel face cash and covenant pressures amid dry recession, analyst warns.
- Japan holds 19
June port state control round-up sees P&F Marine and Jacksoon bulkers detained.
- Domestic bliss
Indonesian boxship business leads to improved second quarter income for shipowner in "oppressed" period.
- Havila still at a loss
Norwegian offshore company books loss on second quarter profit but sees improvement in second half.
- Greek ship detained in UK
June figures for UK ship detentions put Good Faith-owned bulker and US-owned cruise ship in the frame.
|JULY 22, 2011|
- Washington Notebook
- Natural Gas production
- "K" Line joins Evergreen China-India loop
The Japanese container line "K" Line said Friday it is joining a service linking the Far East to India and Pakistan from Aug. 10. "K" Line will participate in the Evergreen Line-Simatech Shipping CIX2 service as a vessel operator. It will provide ...
- New controversy over Jones Act Waivers
There is new controversy about the granting of waivers to the Jones Act for ships carrying oil from the Strategic Petroleum Reserve (SPR), with allegations that oil companies are tailoring their withdrawals to avoid using U.S. flag ships. The gover...
- Toohey tapped to lead Waterways Council
The Waterways Council has tentatively selected Mike Toohey to be its next president and chief executive officer. A special meeting of the WCI board has been called for Aug. 2 to formally consider his election to the organization's presidency. Toohe...
- 4 bids received for Hawaii 'Superferries'
The U.S. Maritime Administration said it received four bids for the two high-speed ferries built by the defunct Hawaii Superferry company. However, MarAd said it would not reveal the name of the bidders or the amounts they offered for theAlakaiandHu...
- CMA CGM adds back Port Said on EPIC loop
The liner carrier CMA CGM is adding back a call at Port Said on a service between Europe and the Indian Subcontinent, according toAmerican ShipperaffiliateComPair Data . The French carrier had deleted calls at Port Said on itEPIC service in May , a...
- Ship registry gets China approval
International Register of Shipping (IRS) has received approval from the Chinese government's Maritime Safety Administration (MSA) to open a surveying company in China. The approval comes as IRS, based in Panama City, Panama, continues to expand its...
- Military Sealift Command appoints Pacific commander
The U.S. Navy's Military Sealift Command said Thursday Capt. Sylvester Moore has assumed command of its Pacific operations.Moore replaces Capt. Jerome F. Hamel.The Pacific Command is responsible for Military Sealift Command ships operating in the E...
- U.S. prepares trade mission to Afghanistan
Francisco Sánchez, U.S. Commerce Department's undersecretary for international trade, will lead a trade mission to Kabul, Afghanistan, this September.Sánchez will bring representatives from 10 U.S. companies who are interested in pursuing export, ...
|JULY 22, 2011|
- Prices uncertain in the Americas
Crude futures settled higher on anticipation that prices will increase next week if progress is made on the US debt crisis.
- New Zealand bunker debate considered environmental risk
One industry expert said he believed the ferries were responsible for 80% of sulphurous gases over Wellington.
- IBIA Chief Executive resigns
Resignation will take effect from July 31, 2011.
- Prices mixed in the Middle East
Suppliers bunkering schedules extremely tight for prompt dates.
- Markets firm across Europe
Renewed confidence in eurozone area.
- Antarctic fuel oil ban hits cruise passenger numbers
With ban entering into force next month, several operators are withdrawing large cruise ships from the region.
- Study of CO2 abatement cost shows 'amazing results'
Huge CO2 cuts possible at profit to industry, but significant barriers preventing realisation of $70 billion potential fuel cost savings.
- Turkish supplier expands operations to Aegean Sea
Will be selling 380 cSt, 180 cSt and 0.1% sulphur MGO at Izmir.
- ARA supplier prepared to change pricing formula
Separating product price from barge freight cost already practiced in several regional ports.
- Week ends with gain in IFO prices
Demand for bunker fuel mixed at major Asian ports on Friday.
- Boldly Going Bigger?
With ship sizes increasing, so will bunker stems, but will suppliers be willing to extend credit to 'fill her up' if there is another rate crash?
- US Navy places order for fuel tank sensors
Organisation will order 13 sensors from Electronic Marine Systems.
- Singapore onshore fuel oil stocks at three-week high
Volume up 12.4% to 19.689 million barrels with further inventory gains expected.
- Glencore subsidary gets fuel saving service
Blue Water Trade Winds signs three year deal to install cargo heating management services for ST Shipping.
- Fall in global bunker demand 'faster than anticipated'
High bunker prices prompt development of fuel-efficient ships, study says.