|JULY 29, 2011|
- Chinese lines lobby against Vale fleet
China's largest shipping companies are lobbying the government to foil Vale SA's plan to build a US$2.3 billion fleet of the world's biggest iron ore carriers that will haul the steel-making material to the nation.
|JULY 29, 2011|
- Braemar Seascope: Record containership capacity to flood market in 2012
- Hapag-Lloyd increases west India-Europe rates US$125 per TEU in August
- MOL adds capacity to meet demand on CX1 service linking Panama to Brazil
- Guangzhou first half container volume up 10.2pc to 5.2 million TEU
- Major milestone for Panama Canal expansion with start of concrete work
- Five injured when cargo ship explodes while under repair near Fuzhou
- Onboard armed guards ward off Somali pirate attack in the Red Sea
- Shanghai plans Shanghai-Jinshan port buildout for bulk and chemicals
- Zhongshan port to build river-sea shipping large distribution centre
- Hong Kong bans Taiwan red tea imports because of plasticiser content
- CN speeds up trains, invests in extended sidings in north Ontario
- Hamburg Sud christens Korean-built 7,100-TEU Santa Cruz in Shanghai
- Russia's National Container Company to set up as rail operator
- UPS second quarter profit increases 26pc to US$1.7 billion
- USDA funds farmers to grow bio-fuel with US$45 million oilseed subsidy
- Airbus buys Metron Aviation to support US-EU air traffic management
|JULY 29, 2011|
- Key role played by freight brokers stressed at CFBA's 73rd AGM
- Safmarine wins prestigious Ocean Award
- India signs DTAA with Lithuania
- Refineries ask Saudi Arabia to make good Iran oil supply cut
- With Japanese demand picking up, seafood exports set to increase
- DP World Nhava Sheva installs solar power system to reduce carbon footprint
- Pay revision anomalies to be sorted out soon: Vasan
- Govt to decide on more sugar exports after Sept.
- HC cancels eligibility norm for extra cotton export quota
- India slips to 14th spot in FDI inflows: UN report
- Expect the unexpected on your investment portfolio
|JULY 28, 2011|
- ScotRail wins innovation award
Two ScotRail innovations have been recognised for helping to keep Scotland moving during the coldest and most prolonged winter for 100 years. The innovations were of huge benefit i...
- USD 418 million for freight project in Adelaide
Infrastructure Australia has placed priority on a USD 418 million project to ease freight transport by rail through Adelaide. The task to upgrade the Torrens and Goodwood rail junc...
- Austrian intermodal node to become a reality thanks to EU funding
A study paving the way for the construction of an intermodal node in the Vienna metropolitan area will receive EUR 2 million in EU co-financing from the 2010 TEN-T annual call. The...
- EC says new tachograph rules will save companies lots of money
The European Commission has proposed a revision of the tachograph legislation to make full use of new technological opportunities such as satellite positioning. This will make frau...
- Volvo Trucks global deliveries to June up
Volvo Trucks delivered 54,566 trucks in the first six months of 2011, an increase of 72% compared to the same period in 2010. The company showed an increase in all major markets, w...
- Ian Adams resigns as IBIA chief executive
The International Bunker Industry Association (IBIA) regrets the resignation of its chief executive Ian Adams, with effect from 31 July. Ian Adams has been at the helm of the ...
- Gefco opens branch in Stuttgart
Gefco Deutschland, the German subsidiary of the French logistics group Gefco, is continuing its expansion strategy and putting a new branch for overland traffic into operation in S...
- Hamburg Süd christens "Santa Cruz" in Shanghai
Hamburg Süd christened the container ship "Santa Cruz" in Shanghai recently. The "Santa Cruz" is the fourth newbuilding of a series of ten identical container v...
- Munich airport welcomes planning approval for third runway
FMG, the Munich airport operating company, has welcomed this week's positive planning approval decision by the district government of Upper Bavaria for the construction of a third ...
- Etihad Crystal Cargo starts new freighter operation to Almaty
Etihad Crystal Cargo, the fast-growing cargo division of Etihad Airways, the national airline of the United Arab Emirates, today commenced a new dedicated freighter operation from ...
- Safmarine wins ocean award
Shipping line Safmarine recently won the ocean award at Ceva Logistics' global supplier awards at a function hosted by Ceva CEO John Pattullo, COO Bruno Sidler and CPO Simon Boggis...
- UPS realised gains in Q2/2011
The world's largest parcel service provider UPS has increased its turnover by 8.1%, from USD 12.2 billion to USD 13.19 billion compared with the same period of the previous year. T...
- Ceva awarded ISO and OHSAS certificates in three European countries
Logistics and SCM specialist Ceva Logistics has reached an operations excellence milestone, with all of Ceva's locations in Czechia, Slovakia and Hungary certified for ISO 9001 and...
|JULY 28, 2011|
- Foss Maritime Company sees year with no accidents
- Mitsui plans upgrades to Asia-East Coast SAm service
- NYK and subsidiary earn Port of LA clean air honor
- Port of Tacoma nets award for 2011 budget document
- Year in Trade 2010 report now available from USITC
|JULY 29, 2011|
- Survey exposes the inherent conservatism of box shipping
Lloyd's List poll reveals derivatives and regulation seen as destabilising by shipping executives
- Torm achieves premium for long range tanker sale
Price tag of $47m for four-year-old LR2 vessel appears high compared to broker estimates
- US crude and gasoline imports slump
US crude oil imports in the first half of the year have fallen to the lowest monthly average seen since 2000, with an estimated 8.8m barrels per day taken in the by the North American country, providing less employment opportunities for crude oil tankers
- Medium range tanker rates inch up on more Atlantic cargo
US gasoline imports rise slightly but brokers warn overall demand is still low
- Koch charters medium range E Pioneer
US energy company Koch Industries has chartered the medium range product tanker E Pioneer for three months, with the option of extending the charter for another two periods of three months
- Global wheat trade forecast to grow 2m tonnes next year
International Grains Council predicts total shipments should increase in 2011-2012 calendar year
- Jawaharlal Nehru's cargo crisis reflects inherent national flaws
Chronic congestion at India's biggest box port shows how inefficiency and bureaucracy have stopped the local industry developing much-needed capacity
- Midwater supply balance tightening
Petrobras demand is buoying the midwater market, just as heightened safety regulation in the Gulf of Mexico is introduced
- Ultra deepwater drillers to benefit from Petrobras' strategy
Technology-intensive service and equipment companies should also benefit, says Morgan Stanley
- SBM and OSX line up FPSOs for offshore Brazil
A second floating production, storage and offloading vessel is slated for the Lula Nordeste field in 2013 and five OSX vessels are in the pipeline
- Petrobras reveals revised five-year business plan
Oil giant to earmark extra $8.7bn on exploration and production in pre-salt fields
- Singapore trusts reflect industry credit tightrope
Risk premium shows what investors think about ships as assets, especially if interest rates rise
- China to narrow down energy security options
Dependence on the Strait of Malacca as a transit route for imported commodities is seen as a point of weakness by China
- Light at the end of the tunnel for medium range product tanker sector
Head of d'Amico Internationale Marco Fiori says market fundamentals will gradually improve from 2012
- South African tanker casualty identified
Lloyd's List Intelligence correctly identifies tanker that ran aground near Durban
- Finnlines vetoes dividend as first half earnings slide 9%
Board predicts full year figures will show improvement after 'external disturbances' of stevedore strikes and Baltic ice
- MOL awaits 10 newbuilds for CSW service to replace chartered tonnage
Containerships purpose-built for serving Latin American ports
- Thenamaris adds to Greek boxship newbuilding tally
Well-known tanker owner among three Greek players confirmed to have contracted boxships with Hyundai Samho
- TAL second-quarter profits double on leasing demand
High prices for leasing and disposals push up revenues but decline in orders points to slowdown
- Management and private equity carve up V.Group
Ontario municipal employees' fund pays $520m to take control, but size of top managers' stake is a mystery
- TEN blames rare quarterly loss on tanker market malaise
Greek owner to look harder at opportunities in shuttle sector and LNG
- Launch of second P&O superferry to be delayed due to vibration fault in first
Spirit of France to undergo changes at STX Europe, followed by work on Spirit of Britain
- Choked in Cochin
DP World's state-of-the-art terminal is being stymied by its partner, the Indian government
- The meaning of a deal
It boggles the imagination that Cosco, a thriving, sprawling giant, cannot clear up arrears in a timely fashion
- Grimaldi's Tunis woes continue
New service ro-ro now kept waiting three days outside 'congested' port
- Costamare matches forecasts as profit grows
Boxship owner eyes more acquisitions but keeps its options open
- Precious lives up to its name with 266% jump in profits
Sale of newbuilding contracts boosts results as company says port congestion will help vessel utilisation in the whole dry bulk sector
- Bailouts, bank writedowns and Greek shipping
Could shipping survive another global economic downturn?
- Greeks top the league of ship ownership by value
Japan and China are runners-up as three nations control a 50% stake in global fleet
- Chinese iron ore imports surge to sidestep big three miners
China wants to cut dependence on Vale, Rio Tinto and BHP Billiton, in an effort to reduce their market influence and curb rising global prices
|JULY 28, 2011|
- TEN swings to losses
NYSE-listed TEN today reported much higher losses than expected and outlined its strategy for what it called the suffocating downturn
- Escondida copper mine force majeur declared
BHP BILLITON today declared force majeur on bulker shipments from Chile's Escondida copper mine
- Fund snags V.Ships
A MAJOR Canadian pension fund has agreed to acquire ship management giant V.Ships from Exponent Private Equity
- Tanker grounding will cost South African public
REMOVAL of a grounded product tanker will probably cost South African taxpayers up to $50M, a key maritime lawyer has told Fairplay
- GenMar reeling from bad to worse
RECENTLY restructured General Maritime has posted yet another poor quarter, falling well short of Wall Street forecasts
- Royal warns on Med
WIDENING unrest in the eastern Mediterranean has had a greater impact than expected on cruise demand, Royal Caribbean conceded today
- Daewoo net profits fall
DAEWOO Shipbuilding & Marine Engineering said its second-quarter net profits dropped by 3.6% year on year
- Precious profit rises 80%
THTHAI DRYBULK carrier Precious Shipping today said its net profits for 2Q2011 rose 80% year on year to 401.29M baht ($13.5M)
- 'Robust' Technip feels expansion fever
FRENCH oil contractor Technip said today it sees a chance to expand in all its markets on the back of what it called a "robust" second-quarter performance
- SAR's earnings rise
SINGAPORE'S Straits Asia Resources, which ships coal from mines it owns in Indonesia, unveiled higher 2Q2011 earnings
- Clean rates lifted
IMPROVED demand-supply equations and pricier bunkers have lifted freight rates for Asia-bound clean products this week, brokers told Fairplay today
- China steam coal imports rise in June
RECOVERED shipments from rain-hit Australia propelled Chinese steam coal imports in June to a fourth consecutive monthly increase, IHS McCloskey reported today
- Bulgaria-LUKoil start crisis talks
RUSSIA'S Russian oil producer and exporter LUKoil told Fairplay it began crisis talks this morning with Bulgaria's government
- CSCL warns of losses
SHARES of Hong Kong-listed Chinese box carrier CSCL fell after it said today that it expects losses for 1H2011
- Bad gets worse for VLCCs
A BROKER described the VLCC market this week as "terribly bad", with earnings falling to as low as $2,000/day
|JULY 28, 2011|
- Corpus Christi Prepares for Tropical Storm
The Port of Corpus Christi, Tex. is still operating under normal conditions as it awaits an update on the...
- NY-NJ Port Truckers Face Chassis Shortage
Truckers that dray containers to and from many of the ocean terminals in the Port of New York and New...
- Truckload Carriers Hungry for Acquisitions
More than half of the truckload carriers polled in a recent survey said they would be interested in buying or...
- Knight Profit Up 3.3 Percent as Costs Rise
Knight Transportation kicked its profit into higher gear in the second quarter, but still struggled with higher purchased transportation, fuel...
- Pacer Profits Triple as Business Model Shifts
Intermodal middleman Pacer International's profit triple dyear-over-year in the second quarter despite shrinkage in top-line receipts, as the company transitions...
- Corps Approves Corpus Christi Channel Expansion
The U.S. Army Corps of Engineers approved the Port of Corpus Christi's request to increase the dredging depth of the...
- ILA's Daggett Vows Aggressive Stance
Harold Daggett took over as president of the International Longshoremen's Association on Thursday with a vow to fight automation, increase...
- MOL Upgrades Panama-Brazil Feeder Service
MOL is doubling the capacity of its CX1 feeder service running between Panama and Manaus, the Brazilian manufacturing center 800...
- ODFL Profit Leaps 83.1 Percent
Old Dominion Freight Line increased its profit 83.1 percent to $39.4 million in the second quarter, as revenue rose 30.4...
- American Railcar Sees Orders Jump
American Railcar Industries is seeing a big rise in orders to manufacture new units this year, with 2,200 more placed...
- Asiana Cargo Plane Carrying Batteries Crashes
An Asiana Airlines air freighter carrying lithium-ion batteries crashed early Thursday en route from Inchon, South Korea, to Pudong, China,...
- YRC Worldwide Seeks New CFO
YRC Worldwide named Jamie G. Pierson, a managing director with Alvarez & Marsal North America, interim chief financial officer while...
- RailAmerica Swings to $8.7 Million Profit
RailAmerica, operator of 43 small railroads in the U.S. and Canada, swung to an $8.7 million profit in the April-June...
- Costamere's Profit Up 24.7 Percent
Greek containership owner Costamare increased its profit 24.7 percent year-over-year to $26.2 million in the second quarter. The...
- Global Air Freight Falls 3 Percent
Global air traffic declined 3 percent in June from a year ago, reflecting the air freight industry's losing of market...
- Lufthansa Cargo Reports $191.5 Million Profit
Lufthansa Cargo posted an operating profit of $191.5 million in the first half of 2011, just 7.6 percent down from...
- Ocean Carriers Hike India-Europe Rates
Three major ocean carriers are hiking rates on westbound shipments from India to Europe, starting in early August. ...
- JOC's Tirschwell Wraps Up Inland Port Conference (Video)
Peter Tirschwell, vice president of Strategy for UBM Global Trade (parent company of The Journal of Commerce) wraps up the...
- Air France KLM's Cargo Unit Slips Into Red
Air France-KLM's cargo unit slipped to a $20.2 million operating loss in the three months through June from a $15.8...
|JULY 28, 2011|
- CAI on a high
- Wall St suffers
- Norbert Dentressangle H1 consolidated ahead 22%
- Monrovia being transformed
- C.H. Robinson trucking business boosts Q2 results
|JULY 28, 2011|
- Excel relaxes loans
Gabriel Panayotides-led bulker owner secures breathing room from banks as rates hammer earnings.
- MOL puts newbuilds to work
Japanese shipping giant hatches plan to add ten containerships to South American loop.
- Bank believes in LNG blitz
Dahlman Rose analyst says Tsakos Energy Navigation has enough firepower to explore LNG fleet expansion.
- Matson immortalised
What does a US liner operator have in common with Marilyn Monroe, Mickey Mouse and the Golden Gate Bridge?
- Hedge fund ups ante
New York-based Rima Management emerges as a major shareholder in Peter Georgiopoulos-linked Aegean Marine Petroleum.
- Finnlines back to black
Ro/ro operator's earning power lifted by bigger fleet and increasing trade.
- SBM sees red
Floating storage giant warns of net loss in the first half as legal battle over platforms erupts.
- Pirates free Jubba XX
UAE owned tanker released after less than two weeks without the need for a ransom.
- Otto feels cancellation hurt
The Singaporean ship builder is expected to book a loss in its second quarter as it takes a third cancellation on the chin.
- Offshore tag team?
Aditya Garware's Global Offshore and Per Saevik's Havyard tipped to be in talks regarding North Sea JV.
- Profit doubles up at SSC
Ow Chio Kiat-led car carrier makes big gains as earnings rocket up on a year ago.
- TEN feels tanker pain
Nikolas Tsakos-led owner talks of payouts and expansion despite second quarter loss exceeding the most bearish bets.
- Supply dents CMES profit
Chinese shipping company says tough markets have taken their on earnings but prospects better over longer term.
- CSCL investors spooked
Hong Kong-listed owners stock heads into reverse following profit warnings.
- Loan lifeline for Sevan
Offshore platform operator secures backing of stakeholders for short-term loan while restructuring takes place.
|JULY 28, 2011|
- August 2011 Editorial
- 'These are our jobs'
- Daggett elected ILA president
Daggett Harold J. Daggett was unanimously elected as the ninth president of the International Longshoremen's Association at the union's quadrennial convention in Hollywood, Fla., on Thursday. In a fiery acceptance speech to delegates, Daggett vow...
- Hapag-Lloyd raises Far East to Med rates
Hapag-Lloyd said it will increase rates by $200 per TEU for all cargoes and container types from East Asia to the Mediterranean and Black Sea, effective Sept. 1. The East Asia countries from which rates will be increased are: South Korea, Taiwan, ...
- Panama/Brazil feeder boosts capacity
Liner carrier MOL said Thursday the average vessel size will increase on a feeder service from Panama to Brazil that it jointly operates with Maersk Line. The service, which MOL dubs CX1, has operated with four ships (three from Maersk and one from...
- Shippers ask STB for more rail competition
A group of 40 shippers and business advocacy groups are asking the U.S. Surface Transportation Board for increased rail competition and improvements to the rate regulatory process. "While the STB's recent decision to lower filing rates for shipper...
- Norfolk Southern 2nd quarter profit up 42%
Norfolk Southern said it had second quarter net profit of $557 million, 42 percent more than the $392 million earned in the same 2010 period. Second quarter operating revenue was a record $2.9 billion, 18 percent more than in the second quarter of...
- Industry groups encourage clean energy exports
A group of large industry associations released a set of principles on Capitol Hill Wednesday to encourage lawmakers and administration officials to seek a more "coordinated and aggressive" U.S. clean energy export promotion program. The principle...
- Swiss air cargo interest group formed
A group has been formed to represent the interests and concerns of the Swiss air cargo industry. IG Air Cargo Switzerland said its main purpose is to provide a platform to discuss and harmonize the interests of cargo airlines, forwarders, airports...
- Zepol releases trade compliance product
Minneapolis-based trade intelligence company Zepol Corp. on Wednesday released a new trade compliance product. ComplianceMonitor aims to allow users to track essential U.S. import trade compliance information to save time and money and lower penal...
|JULY 28, 2011|
- Markets dip but resist major moves
Rotterdam tight for remainder of July.
- Beached tanker threatens bunker spill
Work to start Friday to remove fuel.
- Bunker markets little changed after crude fall
Prices holding up despite substantial dip in US crude futures.
- Reports of propulsion loss 'back on the rise'
US Coast Guard says engine failures linked to fuel switching 'back on the rise'.
- Customs dispute hits IFO supplies
Bulgaria's sole refinery running down operations after authorities revoke licenses.
- External: Wired Bunkering
- Bunker prices 'lagged behind' crude oil falls
But Royal Caribbean Cruises says it is benefiting from energy savings initiatives.
- Bunker prices mixed at Asian ports
Mixed demand across in Asian bunkering hubs.
- Shell global EVP for B2B and lubricants leaves company
Tan Chong Meng to join PSA International as group CEO.
- Australian credit firm finances dual-fuel ferry
Incat gets financing to build high speed ferry which can operate on either LNG or diesel.
- Call for use of MGO is 'beyond' California's power
Measures 'forced on vessels without regard to the effect on the particular engine's operations', says Vice President of PMSA.
- Heavier losses for Genmar in Q2
Losses primarily due to weak charter and spot rates and higher bunker costs.
- Statoil Fuel & Retail to book gain from marine unit sale
Transfer of its marine oil business to Malik Supply's subsidiary took place this month.