|JULY 28, 2011|
- DP World's cargo volume up 11%
DP World, the Dubai port operator, said on Tuesday that cargo volumes at its docks rose 11 per cent in the first half of the year as trade picked up at home and in other emerging economies.
- Oil tanker glut shrinks as rental income falls
A glut of oil tankers competing to carry two million barrel cargoes of Middle East crude shrank in the past week.
- India allocates US$3.8b for port expansion
India is on track to award 23 contracts for port expansion worth US$3.8 billion this fiscal year, as Asia's third-largest economy turns the corner on funding a sector crucial to its growth prospects, a top bureaucrat said on Tuesday.
|JULY 28, 2011|
- Falling freight rates, increasing lay-ups depress charter market prices
- DP World volume up 11pc to 26.2 million TEU in first six months of 2011
- Evergreen starts Kaohsiung-Cebu weekly service with 950-TEU ships
- APL's four-week container volume count tracks continuing rate erosion
- Danaos cuts loss sharply with a 35pc second quarter revenue surge
- Port of Savannah achieves 11pc container growth in fiscal 2011
- Tacoma container volume shrinks 11pc overall, but export boxes up 9.9pc
- Kerry expands in UK buying 2 firms, Regency and Bergen Freight Forwarding
- Household appliance seller Suning spends US$154.9 million on Zhuhai DC
- Intermodal star performer of Canadian National's 8pc profit increase
- CSAV builds firmer ties with MSC on joint services
- NYK, Itochu in JV to own and operate floating dock for Petrobras, Brazil
- US Federal Aviation Administration shuts as Congress fails to fund it
- Free from September to February, CgoXchange air cargo spot rating portal
- Kuehne + Nagel to take over J van de Put Fresh Cargo Handling
|JULY 28, 2011|
- Freight Wings skillfully loads out giant RMQCs at JNPT
- JNPT hires high-power 60-ton Bollard Pull tug
- CONCOR commences weekly train service between Kanpur & Mundra Port
- Food inflation declines to 7.58 pc
- Govt mulling extending TDS to service tax
- Govt to reinstate duty drawback on cotton yarn exports
- Govt to take decision on wheat exports
- Higher interest cost will make exports less competitive: Fieo
- Millers call for hike in sugar export quota
- No Law vs. Bad Law
|JULY 27, 2011|
- UPS launches express flights to fast-growing Chengdu
UPS yesterday announced the launch of new flights into Chengdu, China, further expanding the company's connections between Asia, Europe and the United States. The "around-the-...
- Australian Linfox orders 100 Volvo trucks
Linfox, one of Asia-Pacific's leading logistics operators, has chosen Volvo Trucks as the supplier of 100 prime movers. The order consists of Volvo FM 11, Volvo FM 13 and Volvo FH ...
- Road network for modular road trains expanded in Denmark
Modular road trains can now drive to Hundested Havn and Skjern Transportcenter in Denmark. Furthermore, a number of companies in Hobro, Horsens, Ikast, Odense and Sakskøbing have a...
- Eurotunnel buys five class 92 locos
Groupe Eurotunnel has bought 55 more SNCF class 92 locomotives, bringing its fleet to 16. The class 92 is British built and is the only railfreight locomotive authorised for use in...
- SBS appoints Gary Hubbard as group business development director
Gary Hubbard has been appointed as the new group business development director of SBS Worldwide, which provides global forwarding and supply chain solutions worldwide. Hubbard has ...
- MTA appointed exclusive Vanguard Logistics agent in Poland
Vanguard Logistics Services announced that Maritime Transport & Agencies (MTA) was recently appointed the exclusive Vanguard agent in Poland. The move followed internal decisio...
- Kerry Logistics expanding in the UK
Kerry Logistics, a leading provider of freight and logistics services, has acquired two freight forwarding companies in the UK, namely Manchester-based Bergen Freight Forwarding Li...
- GE selected to power new Iberia A330 aircraft
International Airlines Group (IAG) has selected GE CF6-80E1 engines to power Iberia's firm order for eight new Airbus A330 aircraft and up to eight A330 aircraft options. The engin...
- Evergreen Line launching KCS service
The Taiwan-based container line Evergreen launched a new Kaohsiung-Cebu feeder service (KCS) in late July. Evergreen Line will deploy one 950 teu ship with a port rotatio...
- DFDS and Louis Dreyfus Armateurs bid for SeaFrance assets
The Danish ferry and freight shipping company DFDS has teamed up with France's Louis Dreyfus Armateurs to bid for some assets of the failed English Channel ferry operator SeaFrance...
- Rina tackles nickel ore bulker losses
The Genoa-based classification society Rina has established rigorous design standards for the modification or newbuilding of dry bulk cargo carriers, in order to enable them to saf...
- Aramex reports stable growth in Q2/2011
Express delivery and logistics company Aramex, based in Amman (Jordan), has reported a healthy increase in its second quarter 2011 revenues, despite continuing insta...
|JULY 27, 2011|
- Panamax market braced for 'horrendous' August
Charter rates set to continue sliding as northern hemisphere summer kicks in
- Pre-Ramadan VLCC earnings boost looks unlikely
Brokers predict further rate stagnation and low returns ahead of the Muslim holy month
- Box lines gear up for next round of rate increases
Hapag-Lloyd is set to impose a rise of $200 per teu for boxes shipped from East Asia, while MSC has announced a general rate increase of $250 per teu
- Vale trading licence not top priority in Brazil trade talks with China
Trade minister says bilateral agreements for iPad and plane manufacturers come first
- Prophecies of doom are normal in shipping
We overstate gloom and get overexcited when things look up, but it's difficult not to be optimistic right now, says Maersk Broker chief
- Maersk Broker's 'quiet chaps' are silently on the march
Low-profile broking house is expanding into Greece, China, South America and Africa
- Navios Maritime sounds positive note as second-quarter profits rise
Revenues up 375 in second quarter
- Exclusive: Saadé signals CMA CGM's return to acquisition trail as finances recover
Some assets will be sold to help pay for new investments, with China tapped for newbuilding finance and charters
- A lesson from history for China's policy makers
The prospect of a serious slowdown will be enough to give many the jitters, but is the Chinese economy just going nowhere fast?
- Slowing volume growth shakes SITC investors
Global slowdown in container trades puts pressure on intra-Asia lines
- Cosco linked to arrears on dry bulk charters
George Economou and Navios Partners among owners not paid in recent weeks
- The euro ' cause of crisis or cure?
It was inevitable one currency would benefit strong member states at expense of weakest
- Time for euro get-out clause
Troubled members like Greece could emulate corporate bankruptcies and restructure debt
- CAI International second quarter revenues leap 68%
Box lessor says improved income is primarily down to boosting the number of containers it owns
- Tirrenia sold to MSC, Grimaldi, Moby consortium
Shipowners take stakes in ferry operator
- Dry bulk sector looks set for wave of consolidation
Weak spot earnings will mean that some companies are vulnerable to takeover, says Deutsche Bank Securities
- DP World's Cochin transhipment plans stalled by cabotage law
Group's PPP facility cannot operate until expected government waiver materialises
- KG funds' investment poised to slip further
Only seven funds were approved for sale in the second quarter of this year, four fewer than the same quarter last year
- Evergreen launches new intra-Asia service
Uni-Chart will rotate Kaohsiung-Cebu-Kaohsiung calls in addition to Manila loop
- Opportunities and threats
Do not mistake political prevarication for uncertainty when it come to costly carbon regulations
- Cosco likely to benefit from flood of demand for Keppel FELS jack-up rigs
Cosco Shipyard set to win more offshore business as Keppel struggles to find slots
- ThyssenKrupp to expand Rotterdam capacity
Coking coal volumes to increase by one third
- Family firepower
In shipping, a family's passion and unswerving dedication to their business can make the difference between success and failure
- Global Ports to step up efficiency at home rather than expand overseas
Chairman Mishin says growing beyond Russia and Finland is long-term prospect, but 'complex question' of domestic terminals' performance comes first
- Weak charter rates send Genco profits tumbling
Number of ships in fleet rises as bottom line shrinks
- Baltic Trading makes loss for second consecutive quarter
Weak spot rates skew figures
|JULY 27, 2011|
- Offshore 'safe haven' seen
BONDS offered by offshore companies have become "more liquid" than those from shipping groups, a finance conference heard today
- Dry pair beat forecasts
BOTH GENCO and sister Baltic Trading have topped analyst forecasts but also reported quarterly drops versus last year
- Frangou sees supply relief
NAVIOS Partners boss Angeliki Frangou commented today on a positive supply trend as her company reported solid quarterly earnings
- Lamu port construction will start
KENYA's plans to build a port on Lamu Island off its northeastern coast are gathering pace, with President Mwai Kibaki calling on ministers to speed things up, IHS Global Insight reported today
- Saudis raise tanker cargoes to India
SAUDI Arabia has agreed to ship 3M extra barrels of crude in August to India to make up for cuts in oil from Iran, IHS World Markets Energy reported today
- Coal port delays up 32.6%
DELAYS for bulkers at major iron ore ports have decreased by 10.8% over the past week, but at major coal ports delays have risen by 32.6%, a broker told Fairplay today
- China yards push offshore
CHINESE yards are expected to move aggressively into the offshore sector, which is being boosted by high crude prices and rising oil demand, a DnB NOR Markets analyst said today
- Rickmers ramps up in India
GERMANY'S Rickmers-Linie is raising its stakes in India by upgrading its Europe/Subcontinent service to sailings every three weeks in 4Q
- Tight LNG supply expected
A MISMATCH between the number of LNG regasification and liquefaction facilities worldwide means that supply will be tight, at least in this decade, energy analyst Tony Regan said today
- Taipower awards 13 Panamaxes
TAIWAN'S power generator Taipower has awarded 13 Panamaxes in its latest tender for coal, IHS McCloskey reported today
- OceanFreight shares skyrocket
SHARES of NASDAQ-listed OceanFreight shot up 79% today as investors reacted to the surprise takeover by DryShips
|JULY 27, 2011|
- Hub Group Profit Rises 49 Percent
Intermodal service provider Hub Group's second quarter profit rose 49 percent year-over-year to $14.4 million, powered by a 12 percent...
- Locke Confirmed as China Envoy
The U.S. Senate confirmed Commerce Secretary Gary Locke to be ambassador to China, where he will replace Jon Huntsman as...
- Trucker Saia Increases Profit 41 Percent
Multiregional less-than-truckload carrier Saia increased its year-over-year profit 41 percent to $8.3 million in the second quarter, as its revenue...
- Higher Fuel Costs Cut into Covenant Profit
Higher costs and less efficient use of its trucks drove Covenant Transportation Group's profit down 42.7 percent year-over-year in the...
- VDOT's Connaughton Promotes Shipper Incentives
The Commonwealth of Virginia is offering shippers a tax credit for moving containers off the highways to the marine highway...
- FAA Work Stoppages Increase
Work stoppages are spreading among aviation construction projects across the country and construction workers are being sent home, due to...
- Ryder System Revenue Tops $1.5 Billion
Ryder System's net profit leaped 34.2 percent year-over-year to $40 million in the second quarter, as revenue climbed 18.1 percent...
- Celadon Group Hauls Less Freight, Doubles Profit
Truckload carrier Celadon Group more than doubled its profit in the second quarter despite a 1.2 percent drop in freight...
- US Box Imports Slide 1.7 Percent
U.S. containerized imports dropped by 1.7 percent in June from the same month last year after rising 5.5 percent in...
- ILWU Chief Promises to Work With ILA
The president of the West Coast longshore union pledged cooperation with the International Longshoremen's Association and criticized other unions he...
- Railcar, Barge Demand Push Trinity's Profit Up
Major railcar and barge builder Trinity Industries's soared 63 percent in the second quarter to $30 million, despite disruptions to...
- Higher Truck Volume Propels C.H. Robinson Profit
Third-party logistics and brokerage giant C.H. Robinson Worldwide increased its net profit 14.2 percent in the second quarter to $111...
- Flood Woes Cut Canadian Pacific Profit 23 Percent
Canadian Pacific Railway blamed severe flood disruptions for shrinking its second-quarter profit 23 percent to about $136 million (C$128 million),...
- UPS Freight Increases Sales 19 Percent
UPS Freight increased its revenue 19 percent to $660 million in the second quarter, improving its revenue per hundredweight and...
- Ocean Charter Market Declines
Containership charter rates are tumbling as ocean carriers re-asses their tonnage requirements amid slowing cargo growth and weakening freight rates....
- New VPA Board Takes Office
A new slate of eight directors was sworn in as new members of the board of the Virginia Port Authority...
- Hapag-Lloyd Sets Rate Increases, Surcharges
Hapag-Lloyd is implementing a series of general rate increases and peak-season surcharges on Asia-Europe-Mediterranean trade lanes, as part of a...
- Long Beach, Los Angeles Announce Clean Air Awards
The ports of Los Angeles and Long Beach have chosen seven companies as recipients of the 2011 Clean Air Action...
- Guangzhou Port Container Traffic Up 10.3 Percent
The volume of containers handled by at terminals operated by the Guangzhou Port Group increased by 10.3 percent year-over-year in...
- Norfolk Southern Profit Leaps 42 Percent
Second quarter profit powered ahead by 42 percent at Norfolk Southern Railway, continuing a pattern of strong earnings reports by...
- Cummins Doubles Profit to $505 Million
Strong growth in global truck markets drove engine sales up 53 percent to $2.9 billion in the second quarter at...
- Capo Suggests Separate Banana, Short-Sea Pacts
The International Longshoremen's Association and management should consider separate contracts for short-sea shipping and proprietary cargo such as bananas, management's...
- USMX's Capo Warns of Competition for ILA
Management officials urged the International Longshoremen's Association to work with employers to compete with West Coast ports and attract the...
|JULY 27, 2011|
- Shippers don't like slow steaming
- UK economy 'flat-lining'
- Tacoma boxes down 11%
- Bunker prices head back up
- Evergreen launches Kaohsiung-Philippines feeder
|JULY 27, 2011|
- CMRE ready to strike
Konstantinos Konstantakopoulos-led containership owner has the firepower to acquire cheap assets following profitable Q2, CFO says.
- Baltic's crystal ball
CFO of New York-listed bulker owner sees scrapping, slippage and Asian economies as key catalysts in the market recovery.
- CSCL fires profit warning
Li Shaode-led boxship owner braces investors for a first half loss.
- Panamax records pending
Both scrapping and newbuilding arrivals about to set new annual benchmarks, broker says.
- DB talks up M&A
DryShips' $240m OceanFreight takeover could spark increased consolidation in the bulker market, analyst says.
- Uninsured tanker aground
Pollution row as elderly products carrier with no P&I cover grounds in storms off South Africa.
- Navios Partners beats bets
Angeliki Frangou-headed bulker owner tops analysts' forecasts in the second quarter.
- Precious doubles profit
Results from Khalid Hashim-led shipping company aided by newbuilding sales as profit is twice last year's figure.
- Holst plots Asia push
RS Platou exec says dry departures are no big deal as he takes charge of reshaping broker's activity in the east.
- Bulk exit at Platou
Dry-cargo chief Yahya Karahasan heads a list of six leaving RS Platou in the Lion City.
- Davie rival bites back
Groupe Maritime Verreault chief claims government backing of ailing yard makes competitors feel like they are "being eaten by piranhas".
- Chemoil profit dwindles
Profit falls in second quarter but bunker supplier stays in black as sales climb.
- Offshore upset at DRYS?
Drilling orientated investors unlikely to be impressed with use of Ocean Rig shares to part fund OceanFreight swoop, analyst says.
|JULY 27, 2011|
- Evergreen services
Evergreen joins MOL Asia/Africa loopEvergreen Line is joining an MOL loop between Southeast Asia and southeast Africa, according to its schedules. Evergreen launches Kaohsiung/Cebu feederEvergreen said it has launched a weekly shuttle service betwe...
- Surface transport profits
Intermodal buoys CN Q2 performanceCanadian National saw second quarter operating income increase 8 percent to $926 million, the railroad said in its quarterly financial filings Tuesday. Werner record huge Q2 profit growthTrucking company Werner Ent...
- James A. Capo, United States Maritime Alliance-USMX
- CTSA raise currency surcharge again
Member lines of the Canada Transpacific Stabilization Agreement said Tuesday they will once again raise the currency adjustment surcharge they assess on shippers as of Sept. 1. The fee will rise to 10 percent after being set at 9 percent for August...
- Evergreen joins MOL Asia/Africa loop
Evergreen Line is joining an MOL loop between Southeast Asia and southeast Africa, according to its schedules. The line will join MOL's MZX service, which has a rotation of Singapore, Port Louis, Durban, Maputo and Singapore. With Evergreen joinin...
- Evergreen launches Kaohsiung/Cebu feeder
Evergreen said it has launched a weekly shuttle service between Kaohsiung, Taiwan, and Cebu in the Philippines. Evergreen will deploy a single 950-TEU ship on its KCS service, which departed from Kaohsiung on Tuesday. It will arrive in Cebu on Thur...
- FAA issues 'stop work orders'
The U.S. Federal Aviation Administration on Tuesday issued additional "stop work orders" to construction and technology contractors for critical modernization projects around the country after Congress failed to pass an FAA bill. FAA halted dozens...
- UPS starts flights to Chengdu
UPS will begin operating flights into Chengdu, China, further expanding its connections between Asia, Europe and the United States. The "around-the-world" flight through Chengdu will start at UPS's European hub in Cologne, Germany, and make a sto...
- Intermodal buoys CN Q2 performance
Canadian National saw second quarter operating income increase 8 percent to $926 million, the railroad said in its quarterly financial filings Tuesday. Revenue rose 8 percent to nearly $2.4 million while loadings increased 4 percent and revenue to...
- Werner record huge Q2 profit growth
Trucking company Werner Enterprises increased its second quarter net profit 32 percent, compared to the same period in 2010, according to a company financial filing last week. Werner's operating profits rose $46.8 million in the quarter, on revenu...
|JULY 27, 2011|
- Rotterdam market softens slightly
Other European ports steady or firmer mid-week.
- Moderate mid-week price moves in major ports
Fujairah steady after recent gains caused by tight avails.
- Bunker deal signed with SK Shipping
Ghana Oil Company says MGO contract will help it maintain 'market leadership'.
- Ferry operator given 'unreserved apology' over pollution allegation
New Zealand's National Institute of Water and Atmospheric Research says charge was made without proper research.
- Asian bunker prices firming mid-week
Demand mixed in major Asian bunker ports on Wednesday.
- Titan to start oil storage operations at Quanzhou in August
Will start operations at 340,000 m³ capacity facility after receiving 100,000 mt cargo.
- California ARB approves changes to fuel regulations
Regulations to be aligned with the requirements of the North American ECA.
- Japanese shipyard clinches order for fuel-efficient bulkers
Newbuild design to minimise wave resistance.
- Chemoil Q2 profits plunge 69%
But sales volumes rise due to contributions from recently acquired OceanConnect Marine.