|OCTOBER 26, 2011|
- Thoresen Shipping shifts front office to Singapore
THE dry bulk unit of Thoresen Thai Agencies has relocated its commercial front office from Bangkok to Singapore to be closer to its trading house customers, most of which have regional head offices here. It will up its headcount from two to seven in Singapore, while its Bangkok back office keeps its 90-strong operations team.
- ICS study raises questions about training
IT IS said that more than 70,000 vessels transit through the Malacca and Singapore Straits in a year. That works out to over 150 a day and I do not know whether that figure includes every tug and barge set, to say nothing of every fishing boat and perahu that weaves its often erratic way along and across this strategically important international waterway.
- L&T relooks viability of India rail project
LARSEN & Toubro Ltd, due to build and run a railway in the Indian city of Hyderabad, said it may have to 're-look' the viability of the 141.3 billion rupee (S$3.6 billion) project because of hold-ups in acquiring land.
|OCTOBER 26, 2011|
- NYK follows 'K' Line and MOL to forecast larger loss in second quarter ending Sep 30
- Pinxiang Integrated Bonded Area opens to boost ASEAN trade development
- Ningbo port's third quarter container volume up to 4.18 million TEU
- Alanshankou customs August cargo flow up 6.2pc with Kazakhstan
- MSC to adjust bunker rates with effect from November 3
- UN's Basel 'toxic' waste shipping ban moves closer to implementation
- MSC brands its second Far East-west coast South America string as 'Alpaca'
- MOL comes to the aid of flood victims in Thailand
- NYK Group to provide aid to flood victims in Thailand
- Cargo volume at HKIA drops in September
- HNA and Bravia Capital acquires Turkey's ACT Airlines
- Air freight throughput at Changi edges up 2.2 pc in September
|OCTOBER 25, 2011|
- New cranes for Yucatan container terminal
The Yucatán container terminal, which is owned by Spain's Grup TCB, has acquired three new cranes for about EUR 700,000. The Linde reach-stackers have started operations and brough...
- Fesco introduces Tacoma-Vladivostok service
Fesco Russian Pacific Line (part of the Fesco Group), has added Tacoma to its network by introducing a fortnightly service to Vladivostok and all points in the Russian Far East. Th...
- Russian and Slovak railways to cooperate
Russian Railways and the Railways of the Slovak Republic have plans to cooperate. A corresponding memorandum of cooperation was signed recently to facilitate the development and up...
- AA Cargo celebrates 20 years at London Heathrow
American Airlines Cargo (AA Cargo) last week celebrated 20 years of flying directly between London Heathrow and the USA, holding a reception for its key cargo customers. AA Cargo w...
- New IT system for world's largest air cargo terminal
Hactl's SuperTerminal 1 - the world's largest independent air cargo handling facility - will operate with a new cargo management system from December, following three years of deve...
- Panalpina is Cargo 2000 phase 1 certified
The Basel-based logistics provider Panalpina is now Cargo 2000 certified for phase 1. Cargo 2000 is an industry initiative in three phases that aims to implement a quality manageme...
- Daimler Trucks North America to ramp up truck output
Daimler Trucks North America plans to ramp up production of Western Star heavy-duty trucks at its plant in Portland OR, for which it will add a second shift. The increase in produc...
- Martin Gauss new CEO of airBaltic
The supervisory board of the Latvian national airline airBaltic has appointed Martin Gauss as its new CEO and chairman of the executive board, with effect from 1 November. He has 2...
- New Fiat Ducato model on sale
After three decades of production and five generations, a new model of the Fiat Ducato, one of the most popular commercial vehicles, is going on sale. The three power outputs from ...
- Dachser USA opens Dallas branch
Dachser USA, a subsidiary of the German logistics services provider Dachser, has opened a new branch in Dallas TX, to take the growing import and export business in northern Texas ...
- Yusen Logistics renews contract with Kingfisher
Service provider Yusen Logistics has renewed and extended a contract to manage Kingfisher's European imports. Adding to an existing contract's origin points in northern and souther...
- Delice de France contracts Norbert Dentressangle in UK
The French transport and logistics group Norbert Dentressangle has signed a new temperature-controlled warehousing contract with the baked goods manufacturer Delice de France in th...
- UIRR endorses EU Commission energy taxation proposal
The International Union of Combined Road-Rail Transport Companies (UIRR) has endorsed the EU Commission's proposal which envisages several positive amendments to a European directi...
|OCTOBER 25, 2011|
- Matson moves to reassure Horizon Line's Guam cusomers
- MARAD/SOCP to hold anti-piracy demonstration in Boston
- Thordon Bearings names George Morrison Area Sales Manager for Western Europe
- BMT Argoss and International Paint partner to deliver measurable hull coatings performance
- BBC Chartering adds SkySails equipped multipurpose vessel to fleet
- Horizon Lines to discontinue trans-Pacific service
|OCTOBER 25, 2011|
- Horizon Lines announces plans to end Trans-Pacific container service
- Port of Tacoma slates meetings to discuss 2012 business plans
- Coast Guard Auxiliary unit plans Garibaldi haunted house
- VIPs celebrate first project at Grays Harbor business incubator
- NYK cruise ship honored with three Travel Weekly awards
|OCTOBER 25, 2011|
- SITC numbers reflect stable intra-Asia trade
Tepid earnings results of boxline specialist have obscured its solid focus on regional growth
- Solvency II risk strategies raise concerns over capital requirements
Regulators' view of risk and investment strategies remains key issue
- Pause in dry bulk asset values' decline
Baltic Exchange reports all major vessel prices plateau for first time in more than a year
- Court of Appeal throws up exceptions to freezing orders
Distinction drawn between party in enforcement of arbitration award and judgment debtor post-judgment
- Panamax period charter volumes hit seven-month high in October
Increased short-term contracts coincide with improved charter rates
- Salvage industry would fail to cope with major casualty
Salvage insiders plead for greater investment as shipping evolves
- Shipowners' Club members to see no general premium increase in February
P&I club reports free reserves of $210m and says investment returns have been healthy
- London P&I clubs risk being made history
A sense of drift, decay, indecision and ineffectual governance has permeated parts of the UK P&I industry
- Backhaul gasoil trade keeps rising
Europe expected to increase imports of US diesel
- Rising South American demand boosts product tankers
Brazil's thirst for middle distillates set to increase as World Cup and Olympics loom
- Owners feel pinch as US gasoil imports slump
Fewer product tankers trading on TC2 Europe to US Atlantic route
- Modern Istanbul carves an expansionary path
Turkey's shipowners have invested heavily in newbuildings and have extensively modernised their fleets
- North Sea aframaxes rally falls away
Rates drop dramatically as activity in Atlantic basin slows and owners offer discounts
- Slumping secondhand prices trigger $56m impairment at DHT Holdings
Tanker company makes voluntary pre-payment of $24m to remain in compliance of covenants
- Cargotec and Rosmorport form alliance
Increased automation for Russian ports
- Rising cargo volumes heading to Asia boost broker's fixture activity
Braemar Seascope benefiting from Chinese and Indian dry bulk and oil demand but commissions stay low on poor charter rates
- Conti makes co-operation work with Korea Line
Shipowner and insolvent bulk operator maintain charters
- Horizon Lines quits Pacific trades
Falling freight rates lead to $44m loss on Asia-US route since January
- Box lines warned against underestimating inventory levels
Manufacturing and retail inventories have risen significantly, says Macquarie
- Pirates release Iceberg 1
Ro-ro held since March 2010 freed
- Ferry operators warn over sulphur limits
Ultra-low emissions limits will place $6bn burden on industry
- Dutch courage
ABN Amro's plan to hike its shipping portfolio does not change overall squeeze on lending
- Orders at China's yards fall 43% year on year
Deals lost at the expense of this year's migration back to South Korea
- DP World volumes up in third quarter
Liftings rise 10% on previous year
- Braemar bank balance hit by overtonnaged shipping markets
Group sees broking business' interim period operating profit halved
- WEM bulk carrier seized in Singapore
Bunker supplier claims $1m is owed
- Qatar Navigation profits dive
Fall in net income follows one-off gain from Qatar Shipping acquisition
- Delayed finale
When the freight trades picked up last year, there was a widespread assumption that the worst was over. Not so
- Courage Marine lands supramax newbuilding
Purchase for $27m is from a small Chinese yard owned by a steel producer
|OCTOBER 25, 2011|
- Piracy hijackings down
PIRACY has risen to record levels, with Somali pirates behind 56% of the 352 attacks reported this year, according to the IMB
- SeaFrance stymied for legal hearing
CALAIS/Dover SeaFrance sailings are at a standstill today because the group's workers downed tools to journey to Paris for a key court session
- Storm threatens gulf oil
HURRICANE Rina is gaining strength today in the Western Caribbean, with a storm analyst warning it could shut in nearly 9.7M barrels of oil in the Gulf of Mexico
- Sub-Panamaxes boxed in
BROKERS told Fairplay today charter rates are plunging for sub-Panamax box ships because their slot costs are rising relative to expenses for bigger vessels
- VLCCs east of Suez are north of breakeven
BROKERS told Fairplay today VLCC rates east of Suez have finally peeked above breakeven as crude demand rises, heading into winter
- Conti cuts newbuildings
GERMAN KG house Conti Reederei has pruned back its bulker newbuilding programme
- End-buyers rule breaking
BREAKING markets are expected to be driven down this week by the continuing uncertainty over Bangladesh's recycling sector
- Box rates fall below '09
FREIGHT rates in the Far East/North Europe box sector have dropped into negative territory, lower than in 2009, a sector consultancy has warned
- Frontline hunts new buyer
FRONTLINE has placed two Suezmaxes on sale, Fairplay has learned
- BSS's half-year profits drop
BRAEMAR Shipping Services has blamed a weak shipping market for its fall in half-year profits
- Greece, China sign trade deal
ATHENS and Beijing have signed a trade deal that calls for increased Greek exports to China
- NOL could lose $242M
SINGAPORE'S securities group DBS Vickers expects losses for liner NOL will be $100M worse than previously estimated
- Horizon pulls trans-Pacific plug
HORIZON Lines will cease its FSX trans-Pacific service on 2 November and lay up all five box ships chartered from NYSE-listed Ship Finance International
- Samudera's profits drop 37.8%
HIGHER costs have deflated the profits of Indonesia's Samudera Shipping Line by 37.8% year on year for 3Q2011
- Fire hits loading at Dalrymple Bay
DAMAGE from last week's fire at the Dalrymple Bay Coal Terminal will slow ship loading until early December, IHS McCloskey reported today
|OCTOBER 25, 2011|
- CN Launches Large Share Buyback Program
The board of directors at Canadian National Railway authorized the company to buy back up to 17 million shares of...
- CN Profit Jumps 19 Percent on Record Loads
Canadian National Railway's profit rose 19 percent to $648 million (C$659 million) in the third quarter from a year ago,...
- HNA Buys Turkish Air Cargo Operator, Expands Fleet
HNA Group bought a Turkish air cargo operator and will add up to 15 freighters over the next two years,...
- Mica Coy on Congressional Response to HOS Ruling
House Transportation and Infrastructure Committee Chairman John Mica said he's not ready to say how Congress will "aggressively oversee any...
- UPS Slashes Asia Capacity 10 Percent
UPS cut its air capacity out of Asia 10 percent during the recent third quarter amid a deep slowdown in...
- Intra-Asia Ocean Carrier's Profit Falls 40.5 Percent
Intra-Asia operator Samudera Shipping Line saw its third-quarter profit fall 40.5 percent year-over-year to $3.9 million, as rising operating costs...
- Asia Exports Slide at NYK Line
Japan's NYK Line says container volume from Asia to the United States and Europe fell 10.2 percent from September to...
- Mica Backs Highway Bill as Jobs Measure
House Transportation and Infrastructure Committee Chairman John Mica says a proposed six-year, $285 billion transportation plan will "be the core...
- Alphaliner Says Some Asia-Europe Rates Below Zero
Container freight rates on the Far East-North Europe spot market have dropped below zero after stripping out bunker surcharges, and...
- UPS Profit Growth Slows on Flat Volume
UPS reported a 5.1 percent gain in net profit in the third quarter on Tuesday, to $1.04 billion, as pricing...
- Lufthansa Cargo Workers Strike Against Flight Ban
Lufthansa Cargo employees walked off the job at Frankfurt airport Tuesday to protest a temporary ban on night flights at...
- Used Commercial Truck Sales Rise in September
Used truck sales bounced back in September after an extended slump during the summer, according to commercial vehicle research group...
- CP Profit Falls 5.3 Percent as Intermodal Shrinks
Third-quarter profit fell 5.3 percent at Canadian Pacific Railway to $184 million (C$186.8) million, as it lost 10.1 percent of...
- Paccar Hits $4.26 Billion Quarterly Sales Record
Truck manufacturer Paccar reported the highest quarterly revenue in its history as U.S. truck operators raced to replace aging heavy...
- Ryder System Profit Up 44 Percent
Ryder System increased net profit 44 percent from a year ago to $56.9 million as acquisitions and organic growth boosted...
- EU Trust Busters Reject Sea France Restructuring
European Union regulators rejected a $230 million restructuring of Sea France, casting doubt over the survival of France's state-owned freight...
- Japanese Ship Orders Fall 77.1 Percent
Japanese export ship orders fell for the fifth straight month in September on a year-over-year basis, plunging 77.1 percent to...
- Shippers See Some Port Calls Skipped, Cargo Rolled
Some trans-Pacific ocean carriers are skipping port calls and holding back vessel departures if bookings are weak, illustrating how feeble...
- SIA Adds Frankfurt-Singapore Freighter
Singapore Airlines is adding twice-weekly freighter service between Singapore and Frankfurt, adding Asia-Europe capacity just as a ban on night...
- DP World Box Volume Jumps 10 Percent
DP World's 10 percent year-over-year boost in container traffic in the third quarter was driven by strong growth at the...
- Horizon Lines to End Trans-Pacific Services
Horizon Lines is discontinuing its money-losing trans-Pacific service, a route that sought to sail in a niche market underneath the...
|OCTOBER 25, 2011|
- SSL's revenue up but profits down
Intra-Asia container carrier Samudera Shipping Lines (SSL) saw its turnover soar by 24.5% to USD336.2 million in the first nine months of 2011 compared with the ...
- AAPA urges Harbour Maintenance Tax to be used for dredging
The American Association of Port Authorities (AAPA) wants USD6 billion collected from US Harbour Maintenance Tax (HMT) to be used to fund the dredging of harbour ...
- Northern European ports 'still best' for central Europe
Recent research carried out by Netherlands-based analyst NEA for the ports of Rotterdam, Antwerp and Hamburg shows that much of central Europe is still best served ...
- Rena salvage moves forward
The latest information released by the state agency Maritime New Zealand (MNZ) suggests that considerable progress has been made in pumping oil off the stricken ...
- Australian navy rescues Maersk ship
The Royal Australian Navy has stepped in to prevent another potential maritime disaster in Australasian waters after a Maersk-chartered container broke down near ...
- Horizon to cut transpac service
Just 10 months after launching its only transpacific service - the Five Star Express (FSX) - Charlotte-based Horizon Lines has announced that it is closing the ...
- DP World up another 10%
DP World has continued to out-perform the global average growth stakes of 7% t0 8% with its portfolio of container terminals registering a 10% rise in throughput ...
- SITC posts mixed results
Shanghai-based SITC International Holdings Company, which operates a range of intra-Asia liner shipping and logistics services, mainly centred on China, has announced ...
|OCTOBER 25, 2011|
- Excel slides into red zone
Gabriel Panayotides-led bulker owner logs third-quarter loss as troubled markets take toll on bottom line.
- Matson fills Horizon void
US operator poised to plug Guam gap while market waits for new entrant to tap Horizon Lines' abandoned loop.
- All eyes on Omega
Attention turns from New York to Houston as Marco Polo's legal eagles fight to keep Greek owner's bankruptcy in US.
- Fairstar nets dual-cargo deal
Norwegian heavylift operator inks second cargo contract for Hercules trip to boost semi-sub utilisation.
- Jefferies tips tanker failures
Bank warns there is a "strong possibility" for restructuring and bankruptcies before rates turn for the better.
- Regent mulls cruise order
Florida operator in talks with European shipyard over 50,000-gt newbuilding.
- Horizon exits transpacific
US operator prepares to lay-up leased SFI vessels following brief tour of duty in troubled territory.
- Iceberg I ordeal over
Azal Shipping vessel held by pirates for over 18 months set free after $4m ransom, sources say.
- Blaydes makes the cut
Current board member to replace Vitol's Paul Thomas as boss of Latvian Shipping.
- Cosco sells spill ship
Bulker which grounded off Norway in 2009 is finally cashed in by Chinese giant in $10.5m deal.
- Bulker in trawler smash
Tide Line's Amazon allowed to continue on to India after collision off Finland sinks fishing boat.
- Ore deal for TransAtlantic
Swedish ro-ro owner looks to expand into dry bulk with three-year contract.
- Capital stacks it higher
Evangelos Marinakis-led shipowner places $500m on the shelf for new ships and debt repayments.
- Kherson building tanker
Ukrainian plant starts work on river-sea crude/products carrier for Malta's SVL group.
- Meiji set to make less
Japanese tanker and bulker owner cuts half-year profit forecast despite expecting better revenue.
- Car carriers look forward
More cars and some restocking should provide welcome fillip to car carrier owners, says analyst.
- Price pain nearing an end
Charles Weber challenges the thesis that VLCC values will continue to plummet.
- SeaFrance rescue blocked
European Commission rejects loan from parent SNCF, placing future of struggling cross-Channel operator in doubt.
- Scrap record to be broken
Dry-cargo demolition benchmark for 2011 should be topped next year, Navios exec says.
- SCI sells handymax
Indian owner finds Bangladeshi buyer for 1986-built vessel at close to scrap prices.
| - Ocean news||web site|
|OCTOBER 25, 2011|
- MOL's transpacific on-time improves
- Free time extension in Thailand by MCC
- Horizon drops transpacific service
- Daily Maersk kicks off: A lion in winter?
|OCTOBER 25, 2011|
- Vopak announces part ownership of South China storage facility
Storage will be available to south east Asian countries as well as the domestic market.
- IFO prices firm in Fujairah
In Cape Town, MGO deliveries were available for supply up to and including November 8.
- Call for clarity on sulphur regulations
'The industry needs to be clear that there will be regulations and that there will be no delays,' legislators told.
- Rotterdam prices firm
Supplier tight for LS products in Hamburg.
- Energy savings will be 'clear and transparent'
International Paint says ship operators will be able to measure the reduction in energy use.
- Cruise ship operator calls for ECA 'flexibility'
'Averaging' is the most appropriate way the cruise industry can comply with sulphur rules, says Carnival UK.
- Bunker prices up at major Asian ports
Supplies of bunker fuel mixed at key Asian ports on Tuesday.
- Andatee chief buys more shares
CEO buys 18,282 company shares over two transactions on October 20.
- Star Reefers Q3 losses widen
Weak freight rates and high bunker fuel costs take their toll.
- Chemoil moves to new office
New office location effective October 17.
- Almost a third of grounded vessel's bunker fuel removed
Some 480 mt of oil pumped off Rena as of Monday afternoon.
- Construction of bunker tanker newbuilds unaffected by Thailand floods
ES Group will continue to assess flood situation, says CEO.