|SEPTEMBER 27, 2011|
- Maritime firms to struggle with credit squeeze
With fears of a recession rising, the maritime industry will find it increasingly difficult to obtain financing for expansion over the next year, with the exception of the offshore-energy sector, industry experts said.
- Manila port steps up nuclear security
THE United States has poured in US$26 million to improve security measures at the Port of Manila to protect against illicit shipments of nuclear and other radioactive materials.
- Vietnam shipping firm paid US$2.6m in ransom
A Vietnamese shipping firm paid more than US$2 million in ransom to free its crewmen held for months by Somali pirates, a company executive said yesterday after the sailors arrived home.
- Hanjin Shipping tumbles on share sale
- CNOOC sees little need for Q4 spot LNG imports
|SEPTEMBER 27, 2011|
- China Shipping to invest US$3.1 billion in Guangdong over five years
- Hutchison's Felixstowe ahead of Southampton as biggest British box port
- 51 US trade groups press Senate to stop unilateral action on China currency
- US FMC chairman seeks inquiry into American cargo diversion into Canada
- Fujian province posts 7pc growth in freight volume in first eight months
- Port of Savannah now second only to Los Angeles for American exports
- Sino-Mongolian border city of Manzhouli export value up 62pc in 7 months
- K+N opens in Fuzhou, Wuxi, Zhengzhou, Taicang, Yangzhou and Yinchuan
- Panalpina builds Singapore intra-Asia hub, adding three news LCL services
- Costly clean truck schemes spread from California to US east coast ports
- Gulftainer to invest US$275 million in Russia's Baltic Ust-Luga terminal
- All-Nippon, Cathay, SIA to cut fuel surcharges from Hong Kong in October
- First cargo plane arrives at St Louis China hub, returns to Shanghai loaded
- Desire to build US air cargo hubs exceeds demand, says aviation consultant
- Irish cargo hub deal may yet revive once famous, now faded, Shannon Airport
|SEPTEMBER 27, 2011|
- AADA hikes China-Australia rate by $ 250/TEU, $ 500/FEU
- HAMBURG SUD's Santa Catarina christened in Santa Catarina
- MISC revamps Halal Express; East Asia leg to be covered by MES service
- NYK takes delivery of ore carrier; to be long-term chartered to Tata NYK
- US Congressional committee approves training armed crews to fight pirates
- Worlds Window Group forays into freight forwarding through Seagull Maritime Agencies
- Only legal ore to be exported through MPT: Chairman
- 'We believe we have raised the bar at BCHAA'
- BCHAA President spells out achievements & issues at 26th AGM
- Coal import deal to be finalised in a few months: CIL
- Khullar expects FTAs with NZ, Canada to be finalised by 2011-12-end
- Fin. Secy to attend Fieo session on Sept. 29
|SEPTEMBER 26, 2011|
- OAA expands aviation training in Europe and Hong Kong
Oxford Aviation Academy (OAA) has inaugurated a multi-crew pilot licence training centre for Hong Kong-based airline Dragonair, a member of the Cathay Pacific Group. OAA and Dragon...
- ADB helping rebuild Afghanistani roads and railways
The Asian Development Bank (ADB) has approved USD 754 million in assistance to rebuild Afghanistan's shattered road and rail network, bringing to more than USD 1.7 billion the amou...
- Senegal secures funding for new international airport
Senegal has obtained EUR 406 million in long-term financing from a group of banks, including the African Development Bank, the French Development Agency, the West African Developme...
- AirBaltic files for legal protection
Latvia's national airline airBaltic has filed for legal protection to continue operations in its network in Europe, the Middle East, Russia and the rest of the CIS. The airBaltic b...
- Gulftainer Group to invest in Ust-Luga
The Gulftainer Group has concluded an agreement on cooperation and investment for the development of the multifunctional terminal ZUG2 with Russia's port of Ust-Luga at the Russia ...
- Marport container port expands capacity
Marport, the biggest Turkish container port, is expanding the quay length of its west terminal from 300 to 360 m. This will allow it to achieve global quality standards and make fu...
- Volvo Trucks increases lorry deliveries by nearly 60%
The Swedish commercial vehicle manufacturer Volvo increased its global lorry deliveries in August by 59% compared to on the same month last year. In Europe, 1,787 lorries were deli...
- New Swiss brochure for future inland waterway sailors
What is required for the profession of sailor on inland waterways? What is the training like? These are some of the questions that a new brochure published by the Swiss shipping an...
- Slightly more ships laid up in port of Hamburg
Only a random outcome or the first signs for a new shipping crisis? The Hamburg Port Authority (HPA) "is more inclined to see as a random increase" the number of ships la...
- DHL now offers hi-tech perishables monitoring device
DHL is supplementing its services for the life sciences and healthcare industries, as well as other sectors, by introducing DHL SmartSensor GSM, which enables comprehensive verific...
- Gefco's Hanover and Munich sites now SQAS-certified
Gefco Deutschland, which belongs to the French logistics group Gefco, has announced that its branches in Hanover and Munich successfully completed the assessment procedure under SQ...
- Kuehne + Nagel wins French Connection fashion logistics contract
Global logistics provider Kuehne + Nagel has been awarded a 5-year contract by fashion retailer French Connection for the warehousing and distribution of clothing and fashion acces...
- MC Truck Rental expands fleet with Isuzu units
MC Truck Rental, a UK-based dealer of commercial vehicles, has expanded its fleet by ten new Isuzu Trucks, earmarked for its primarily daily rental market. The Isuzu trucks are a m...
- BNSF earns performance excellence award from Honda
BNSF Railway, one of North America's leading freight transportation companies, was recently presented with the rail origin of the year performance excellence award at the American ...
|SEPTEMBER 26, 2011|
- ABS gives Type Approval to Hyde Guardian BWTS
- Huntington Ingalls appoints corporate VP for litigation, investigations and compliance
- Kvichak Marine to build RBM-C for Seattle police
- Pirates taking advantage of sunrise and sunset
- IHC Merwede launches wind turbine installation jack-up
- GL issues ISM/ISPS certificate for 5,000th ship
|SEPTEMBER 26, 2011|
- Port of Seattle earns award for environmental initiatives
- Coast Guard honors pair for heroic life saving efforts
- Mitsui vessels earn praise for rescue of shipwreck survivors
- SEACOR Holdings to build two Jensen Maritime designed tugs
- Spirit Airlines begins Portland to Las Vegas flights
|SEPTEMBER 26, 2011|
- EU to pledge more funding for shipping
Brussels is clarifying terms under which owners can get aid ahead of environmental rule changes
- Nine Baltic ports to seek EU funds for LNG bunkering project
Interest in gas facilities boosted by of impending arrival of sulphur emission rules
- Asry branches out again
Shipyard in joint project with UK technology firm Centrax to design and build power barges
- A future glimpse of maritime security?
Maritime security companies will need to consolidate and merge over the coming years as the market matures and becomes more professional
- Is the media making the economic crisis worse?
Is the media making the global economic crisis worse and if so, should we pipe down?
- Goldenport buyback signals undervalued shipping stocks
Analysts say others set to follow suit amid signs shipping company stock is greatly undervalued
- LNG vessel bets hinge on a looser trading market
Orders could make sense if the market matures and unconventional gas exports start to emerge from North America, Australia and Africa
- Nuclear still has future in Japan
The Fukushima effect is not the long term key for liquefied natural gas as utility companies are already making moves to protect their investments
- Shipping chronicler looks to the future
After careers as a shipowner and prolific author, George Foustanos is embarking on his most ambitious voyage yet
- All eyes on Libya as Greek aframax looks to load oil
Vessel tracking data shows Thenamaris crude tanker has arrived in Libyan waters empty as Mellitah port reports ships loading cargo
- UK shipping needs more time for pensions revamp
Actuaries sound a warning as Chamber of Shipping outlines problems to minister
- Resale tankers lose premium over newbuilding contract prices
Value of a brand new, readily available VLCC drops below $100m for first time since January 2010
- Bundesrat calls for standardised sulphur limits throughout EU
German coastal states fear they will lose out to Mediterranean ports, which are not in ECA
- Gard's gross written premium falls by $100m
Marine insurer's assets rise to $2.7bn
- Vale names next two VLOCs to be launched from DSME
Speculation about vessel name change though
- Modern capesize sold above market estimates at $39m
Handful of sales concluded at firm levels, but brokers are cautious that prices can be sustained
- VLGC rates boosted by European LPG imports increase from Middle East
Freight rates hit fresh high as vessels are kept off the spot market on longer voyages
- Dynagas sells 1977-built LNG carrier
Sale comes as owner has been ordering new vessels
- Old Sovcomflot product tankers fetch firm prices
Sold to Norwegian operator at values similar to those seen in June
- Chinese shipowner Tianjin Guodian buys handymax pair
Prices firm compared to earlier sales this year
- Making the world safe for Ecdis
It is well that P&I clubs are reminding us to clear up the 'mysteries' of new technology on the bridge
- Surge in pirate attacks feared as monsoon season peters out
Strong southern weather may push Somali gangs further north, security firm warns
- Bangladesh takes large vessels despite overall subdued scrap market
Greek VLCC and an oil bulk ore vessel reported sold to Chittagong breakers
- ThyssenKrupp in the frame for sale of Blohm+Voss non-naval activities
Media reports suggest imminent deal with Star Capital Partners
- Maersk LNG keeps potential buyers firmly under wraps
As sale nears completion, Maersk LNG slams market rumours of bidders' identities
- Shipowner bodies urge governments to finally ratify regulations
Consistency is vital across all regions and for all stages of a voyage, say ICS and ISF
- ITF to stage vessel safety checks in staggered weeks of action worldwide
Japan, South Korea, Taiwan and Russia first in line for union inspections and protests
- Europe frantically seeks solution to Greek crisis
Future of the global economy and trade rests on finding a way to keep Greece in eurozone
- Goldenport to buy back shares
Company believes its shares are undervalued, says commercial director Dragnis
- Brightoil shares plunge despite positive full year results
Bunker supplier's stock falls more than 10% in a day of broad market turmoil as annual net profit jumps 15%
|SEPTEMBER 26, 2011|
- Bunge teams with Augustea
AGRIBULK giant Bunge has announced a joint venture with Italy's Augustea Atlantica to operate a new fleet of drybulk vessels
- Explosives in Chinese container found in Lagos
NIGERIAN customs officials today discovered a container from China laden with explosives at the Tin Can terminal in Lagos, IHS Global Insight reported
- Private equity behind Torge S buy
EUROMAR, the joint venture between two private equity firms and Euroseas, confirmed today that it has acquired the 2003-built, 2,450teu containership Torge S, which will be renamed EM Andros upon delivery next month
- Bunge to recoup charter debts
AGRIBULK giant Bunge is moving to attach $26.2M in assets from Singapore's Glory Wealth to recoup charter debts dating back to 2009
- Dubai terminal expansion plan announced
DP WORLD yesterday announced the construction of another 400m of quay at Jebel Ali, increasing the terminal's capacity at the facility by 1M teu to 15M teu
- Maersk in Singapore low-sulphur switch
MAERSK Line has started using low-sulphur fuel in Singapore, it said today
- Hanjin plans new share issue
HANJIN Shipping said on 23 September that it would be issuing shares worth 472Bn won ($400M) and selling its stake in unlisted affiliate Hanjin Energy for 159.8Bn won in a move to shore up its balance sheet
- Falling rupee drags scrap prices down
SCRAP prices have fallen across Asia after stock markets suffered a tumultuous week and the Indian rupee weakened against the US dollar
- Bleak mid-term outlook for VLCCs
OSLO investment bank Pareto reduced its earnings forecasts for VLCCs, Suezmaxes and Aframaxes this morning after spot freight rates for VLCC tankers continued at low levels on Friday, claiming the slump in the sector would extend till 2014
- Older VLCCs tipped for FPSO role
TANKER broker EA Gibson reported today that three single-hull VLCCs were scrapped last week in a move that could allow older double-hull VLCCs to move into storage roles or for conversions to FPSOs
- Secondhand Capesize prices rise
SEPTEMBER'S Capesize bull run has pushed secondhand ship purchasing activity upwards, with three ships sold last week, compared to none the previous week
- Capesize charter rates firming
STAR Bulk Carriers has sealed a time charter contract with Louis Dreyfus Commodities Suisse for its second Capesize newbuilding, the Star Polaris
- Asia-Europe box rates hit new low
DEEPSEA container freight rates dived on the Shanghai Containerised Freight Index to new year-to-date lows last week, as hopes of a peak season increase further diminished
|SEPTEMBER 26, 2011|
- ILWU's McEllrath Surrenders to Police
International Longshore and Warehouse Union President Bob McEllrath surrendered to law enforcement officials on Monday to face misdemeanour charges relating...
- Holland's Rogers Names President of YRC National
YRC Worldwide named Jeff Rogers president of long-haul less-than-truckload carrier YRC and Mike Naatz president of regional LTL subsidiary Holland....
- Court Strikes Down Port of LA Driver Mandate
A federal court of appeals on Monday struck down a controversial employee-driver mandate in the Port of Los Angeles clean-truck...
- Morgan Stanley Sees Truckload Demand Rising
There may be more of a peak in trucking's peak shipping season than expected this year, according to Morgan Stanley...
- Geithner Touts Infrastructure Plan at UPS Air Hub
Treasury Secretary Timothy Geithner toured the UPS Worldport air hub at Louisville, Ky., Monday, as part of the Obama administration's...
- ICS Urges Governments to Approve Safety Measures
The International Chamber of Shipping on Monday urged global governments to ratify and implement several maritime conventions needed to maintain...
- Used Truck Sales Drop 3 Percent in August
Good used trucks are getting hard to find. Sales of medium- and heavy-duty used trucks dropped 3 percent from July...
- Feds Sue New Prime For Sexual Discrimination
The Equal Employment Opportunity Commission is suing New Prime, one of the largest U.S. truckload carriers, for discrimination against...
- New Home Sales Slide 2.3 Percent
Sales of new homes fell for the fourth straight month in August, declining to a six-month low and dampening prospects...
- DOT Approves $150 Million in New York Rail Grants
Amtrak, CSX Transportation and other freight railroads in New York state will benefit after state officials got clearance from the...
- Savannah Expands Refrigerated Storage
The Georgia Ports Authority board approved a $4.75 million project Monday that will expand the Port of Savannah's capacity for...
- NYK Sets Congestion Fee For Indian Port
Japanese ocean carrier NYK Line imposed port congestion surcharges on containerized shipments moving through Port of Chennai, and other lines...
- DP World Plans Major UAE Terminal Expansion
Dubai's DP World will boost annual capacity of its flagship Jebel Ali container terminal by 1 million 20-foot equivalent units...
- DP World's Egypt Terminal Opens After Strike
DP World restarted operations at its Egyptian container terminal on Sunday night following the end of a six-day strike by...
- Japan's Sendai Airport Restarts Global Service
Japan's Sendai Airport restarted regular international flights on Sunday, more than six months after the devastating tsunami submerged the airport's...
- Fight Over Coal Ash
U.S. road builders are warning a proposed rule change by the Environmental Protection Agency could produce much higher costs for...
- Money in the Box
There are no sure bets in shipping, but container leasing comes close. Box lessors profited throughout the recession, boosted their...
- Busman's Holiday
Summer is just about over and hopefully you've had a chance to get some down time: some activity that gets...
|SEPTEMBER 26, 2011|
- 'Words of Wisdom' from a lifetime achiever
James Gresham Davis Esq., CBE, K(DK) received a richly-deserved Lifetime Achievement Award at the Lloyds List Global Awards on September 22: a fitting accolade for a charismatic industry veteran whose commercial shipping career history - starting in 1952 at P&O Steam Navigation - includes; Kleinwort Benson, BIFA, DFDS, the Institute of Chartered Shipbrokers, and last but not least, as the incumbent chair of the think-tank International Maritime Industries Forum (IMIF) - the long list taking an impressive chunk of a Debrett's people page
- Middle East trades under pressure
- DP World to raise box handling capacity
- LA Port and BNSF step closer to building intermodal Gateway Project
- Race to save the euro
- Hanjin stock under pressure
|SEPTEMBER 26, 2011|
- Golden Ocean grabs shares
Herman Billung-led bulker owner makes good buy-back promise as two-day spree surpasses half a million bucks.
- Green Reef grabs lifeline
Eidesvik family investment wing rides to the rescue as Oslo-listed reefer owner grapples with frozen market and cash squeeze.
- Augustea backs Bunge JV
Raffaele Zagari-led shipowner joins forces with US-listed agricultural giant in a bid to build an independent fleet of bulkers.
- Bunge hunts Glory cash
Swiss giant targets Glory Wealth Shipping's US bank accounts in a bid to claw back cash tied to collapsed charters.
- Citi backs offshore plug
Drillship, rig and LNG orders to "protect" giant Korean shipbuilders during tanker and bulker wobbles, analyst says.
- CCM flags cape crunch
Clarkson Capital Markets analyst says bulker rates may be in trouble as iron ore inventories trend higher.
- Three times unlucky
Former Great Lakes bulker still stuck off Canada after refloating attempts fail.
- Cunard's wedding jitters
Carnival brand is weighing up its options to avoid being left standing alone at the altar.
- Humpuss aims higher
Indonesian tanker owner expecting 30% boost to bottom line in 2012 as it teams up with MISC.
- Euromar makes it eight
Aristides Pittas-led containership venture emerges as buyer of Schepers Bereedrung vessel.
- No free lunch for yards
Croatian shipyards face production limits if they are to remain reliant on state aid.
- Navy thwarts attacks
Indian warship deploys commandos and helicopter to foil hijacking attempts on Singapore tanker and Greek bulker.
- Handy deal for Grecomar
Greek owner pens period charter for handysize newbuilding nearing completion at Daesun.
- Goldenport's buy-back bid
Paris Dragnis-led shipowner sniffs a bargain as it launches share purchase scheme for its "undervalued" stock.
|SEPTEMBER 26, 2011|
- Hope dims for CBP head
- Shipping group pushes treaty ratifications
The International Chamber of Shipping (ICS) and its sister organization, the International Shipping Federation, are urging for ratification and implementation of what they say are crucial maritime conventions. "It is crucial that the same regulatio...
- Nearly all Horizon's notes tendered
The domestic container shipping company Horizon Lines said nearly all of a group of note holders have tendered their securities and that it expects to complete its financial restructuring by the end of this month.Horizon said it had extended the e...
- Pirates set fire on ship
A ship was reportedly set ablaze by pirates last week after they were unable to take it.TheKenyan Broadcasting Corp.said 25 member crew of thePacific Expressarrived in Kenya over the weekend after being rescued by an Italian Navy ship.The Internat...
- CEOs ask Congress to invest in transport system
Heads of some of the largest U.S. manufacturing and transportation companies last week sent a letter to the leaders of the U.S. House and Senate urging serious attention be given to passage of a long-term investment program aimed at repairing and u...
- Popular Customs chief to lose post
U.S. Customs and Border Protection and industry officials are preparing for life after Alan Bersin with no signs that the U.S. Senate is prepared to confirm him as commissioner so he can remain in office. Unless the Senate Finance Committee formall...
- DP World increases Jebel Ali capacity
The port operator DP World said a 400 meter quay extension at thePort of Jebel Ali will boost capacity from 14 million TEUs to 15 million TEUs.The expansion is slated for completion by the end of2012.By extending the quay at Jebel Ali Container Te...
|SEPTEMBER 26, 2011|
- Prices generally down in the Middle East
Avails tight for prompt dates in Durban.
- Brightoil shares fall despite strong results
Analyst says the Hong-Kong listed bunker player has 'huge funding need'.
- 'Surge' in demand for middle distillates
'Gasoil, kerosene and diesel is where the growth is coming from,' European refiners told.
- Russian Arctic route 'will rival' Suez
Putin says developments will make the Northern Sea Route 'an international transport artery' within a few years.
- Bunker spill during refuelling
Receiving vessel to be sent to dry dock for inspection and repairs.
- Week opens with falling prices
Mixed demand at key Asian bunkering ports on Monday.
- Indian fuel oil parcels sold at 'highest ever' premiums
Amid strong demand and low avails of readymade bunker fuels in Asia.
- VLCCs 'first' to get MAN Diesel's fuel-saving engines
Engines offer 4-7% reduction in fuel consumption, says MAN Diesel.
- Maersk's fuel switch to see its SOx emissions cut by 65%
About 80% of Maersk Line's vessels calling to Singapore have switched to low sulphur fuels, says CEO for the Asia Pacific region.
- Brightoil triples annual bunker revenues
Eyes 'new positions' and ports in China to 'enhance' its competitiveness.