|SEPTEMBER 29, 2011|
- Tiger Group betting big on box ship sector
Maritime investment firm Tiger Group could 'very easily' buy as many as 50 large containerships in the next two years, betting that the box ship industry will see the most growth in traditional freight markets, the firm's managing director said yesterday.
- Ship supply weighs down Baltic index
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned negative on Tuesday with mounting vessel supply and freight derivatives contract selling knocking sentiment.
- US to raise river tax for freight carriers
Companies that transport goods on US inland waterways would pay more than twice as much as they do now to build and repair locks and dams under a proposal by President Barack Obama.
- Investor Wilbur Ross expects shipping deals to pick up
|SEPTEMBER 29, 2011|
- MOL to raise capacity of Japan-Korea-Thailand CBE service in October
- Rescue comes before pirates force crew from panic room by torching ship
- US federal appeals court lifts LA port ban against independent truckers
- Rongqing Group to build cold chain logistics base in eastern China
- Chongqing launches container shipping service to Luzhou
- Singapore's PSA joins India's ABG to win Nhava Sheva terminal contract
- North American intermodal growth defies recession, most shipped in 3 years
- Carpenters Shipping cuts combo tonnage, trims transits, but adds call
- Maersk Line's costly fuel switch in Singapore lowers sulphur emissions
- 'Sustainable' fuel financially unsustainable, Cathay tells green conference
- Midwest China air hub needed - if not St Louis, then elsewhere, says consul
- Ojhar Airport starts air cargo services 200 kilometres from Mumbai
- BAX to reopen after shutting down at Toledo Express Airport in DHL tie-up
|SEPTEMBER 29, 2011|
- Govt defers Pipavav Shipyard-Mazagon Dock deal
- INMEX India 2011 from today
- It's better to scrap than sell older tankers
- MALA 2011 to acknowledge excellence tomorrow
- Shipping firms may be hit due to new emission norms
- US FMC may allow index-linked service contracts
- Bhushan & Dinesh Patil reappointed JNPT Labour Trustees
- MPSEZL wins big at quality convention
- Vasan urged to facilitate payment of advance against bonus to Port workers
- CONCOR commences 4th train between ICTT & Bangalore ICD
- Contest US duty on shrimps at WTO, SEAI tells govt
- Crisil expects to firm up by March 2012
- Export margins shrink as global sugar prices plunge
- Govt to monitor export ceiling on wheat & rice
- RBI raises overseas borrowing limit for corporate houses
|SEPTEMBER 28, 2011|
- USD 8 million to upgrade Mozambique railroad
Mozambique railway company Portos e Caminhos de Ferro de Moçambique (CFM) is investing USD 8 million to repair the railway branch line between the industrial city of Matola to Sala...
- Jebel Ali to increase capacity
DP World is constructing a 400 m quay extension at its flagship port of Jebel Ali (UAE), thereby increasing capacity by 1 million teu to 15 million teu. The expansion, expected to ...
- Lambert celebrates launch of China Cargo Airlines service
Lambert celebrates launch of China Cargo Lambert St Louis international airport celebrated the inaugural China Cargo Airlines flight recently. The aircraft, which was carrying almo...
- FAA imposes penalty on J.R. Simplot
The US Federal Aviation Administration (FAA) has imposed a USD 207,200 civil penalty on the J.R. Simplot Company of Boise ID, for alleged violations of hazardous materials regulati...
- GAC's new team to boost presence in Brazil
Monica Chaves was appointed oil and gas logistics manager at GAC Brazil on 1 October. Chaves, who will be based in Rio de Janeiro, will drive logistics sales and product portfolios...
- Baltic Sea hubs receive EU support for motorways of the sea
The hubs in Gothenburg (Sweden), Aarhus (Denmark) and Tallinn (Estonia) are part of a project to create a smart network of ports which will receive EU funding. The project , which ...
- Poland moves closer to German seaports
Hamburger Hafen und Logistik (HHLA) and the rail operator Polzug Intermodal have opened a hub terminal in Poznań (Poland). The state-of-the-art facility - the first of its kin...
- First container terminal for Colombo south harbour
The Sri Lanka Port Authority (SLPA), China Merchant Holdings and Aitken Spence have won a USD 500 million contract for a new container terminal, the first in Colombo's south harbou...
- UIA Cargo adds routes to India, Turkmenistan and Iran
Ukraine's recovering economy is supporting a strong year of growth for the cargo division of Ukraine International Airlines (UIA). The outlook for the rest of 2011 will be boosted ...
- Way clear for Daimler-Foton joint truck venture
Beijing Foton Daimler Automotive Co has received its final approval from the Chinese commerce ministry for a joint venture between Daimler and Foton. This marks another important s...
- EU approves VW increase in MAN holding
The Volkswagen Group has reached a further important milestone on its way towards an integrated commercial vehicles group consisting of MAN, Scania and Volkswagen, having received ...
- Dachser helps Bilfinger Berger to build bridges in Norway
The global German logistics company Dachser is overseeing the logistics for two 100 m ferroconcrete pylons required by a suspension bridge across the Dalsfjord in Norway, which is ...
- Damco to open new office in Munich
Damco, the logistics services provider that belongs to the A.P. Møller-Mærsk Group, is positioning itself in southern Germany with a branch in Munich, where it aims to grow strongl...
- Kerry Logistics wins Ikea contract in Thailand
Transport service provider Kerry Logistics has won a contract with Ikea to provide a broad range of services in Thailand. Kerry Logistics will be responsible for a range of value-a...
|SEPTEMBER 28, 2011|
- IMarEst appoints new CEO
- Incat Crowther wins contract for cat for Cocos Keeling
- Tsakos Energy Navigation secures time charters for eight tankers
- Liberian Registry honors Mission to Seafarers Director of Justice and Welfare
- Pilot fatigue blamed in Eagle Otome collision
|SEPTEMBER 28, 2011|
- Public open houses to discuss West Hayden Island concept options
- Port of Everett facilities re-certified by Clean Marina
- Trucking association report says driver turnover numbers climbing
- Emirates Airlines to begin flights to Sea-Tac International Airport
- Marcon International announces sale of pair of Overseas Shipholding Group tugs
|SEPTEMBER 29, 2011|
- Engine selection and fuel quality still a headache
The quality of natural gas, and hence LNG, varies depending on its source
- Gas-powered ships will need big infrastructure
The second part of a two-part analysis of developing LNG as a marine fuel looks at the technical and regulatory issues involved
- Sea of regulation surrounds use of gas as marine fuel
From an IMO working group to cornerstone legislation such as Marpol and Solas, LNG comes with a host of rules and guidelines
- WTO cuts forecast for growth in world trade volume
Slowdown is mostly confined to developed economies, especially in Europe, highlighting need to solve sovereign debt crisis
- Golar LNG spin-off moves to attract long-term contracts
Master limited partnership's strategy of focusing on LNG carriers and FSRUs could produce 20% returns by end-2012
- Time for co-ordinated response to piracy
International Maritime Organization boss Efthimios Mitropoulos calls for co-ordinated response to piracy on World Maritime Day
- Party pooper stuns positive Powerpoint presentation session
A voice of clarity and reason spoke out during a session at the recent LNG Global Congress in London
- Welcome introduction to some risky business
Our senior insurance reporter has a baptism of fire at three-day annual conference in Paris
- Alpha is latest Greek to pen debut LNG order
Deal with STX for two capesize bulkers to be converted with option for further LNG carrier
- APL charter for post-panamax quartet fires up market
Rumours circulate among brokers of $36,000 per day rates for 8,400 teu vessels
- ConocoPhillips is latest US oil major to idle refining capacity
News comes as a blow to Atlantic suezmax market demand after Sunoco announced similar plans earlier this month
- Newlead wins $4m awards in charter payment spat with Nobu Su
Greek owner is 'reasonably confident' of more arbitration victories over $8.6m 'outstanding'
- Russia's Shtokman LNG project faces difficulties getting off the ground
Sovcomflot reportedly says 20 LNG carriers at $4bn needed for exports from Barents Sea
- Ocean Tankers fears mount as Admiralty Marshall auctions vessel
Telephone calls to Cyprus-based company's public number go unanswered
- West Africa to Asia VLCC competition heats up on stagnant Middle East
But owners could be suffering from worse returns than on the benchmark route
- Horizon Lines recapitalisation delayed again
Administrative delays blamed
- Consolidation forecast for Asia-Europe box trades
Smaller players likely to be squeezed out, says Macquarie
- Russian conflict over LNG export expansion plans
Investors torn on whether to develop facilities at Sakhalin or pursue new Vladivostock plant
- HSH Nordbank shipping chief quits
Robin Das to depart on October 7 without revealing future plans
- Hansa Heavy ships arrested due to Beluga debt problems
Four vessels targeted, but HHL says it was acting only as manager of the ships
- Cosco hints at move for Piraeus port stake
Greece readies sale of 23.1% stake as pressure mounts to raise funds for beleaguered economy
- Transpacific rate slide continues
Peak season end speeds up decline to $1,521 per loaded 40 ft container
- U-Ming will consider newbuilds
Company president sees a time of opportunity in the dry bulk market with newbuild orders, second hand vessel purchases and even acquisitions all on the table.
- Singapore ready to fast-track IPOs to beat Hong Kong
When equity markets reopen, Singapore is keen to steal a march on its bigger Asian rival
- Expansion-minded Euroseas files $400m shelf registration
Chairman Aristides Pittas sees containership outlook as still 'more positive' than dry bulk
- Weeding out the weaklings
Lenders are expected to be much tougher on struggling companies than they were three years ago
- West of England P&I Club predicts drop in claims costs
Move away from US business expected to result in lower claims costs
- Cabotage and kings
Indonesia's protectionism could result in quite a few logistical problems, such as vessel shortages
- Jobs at German shipyards down 4% in a year
Trade union IG Metall expects employment rates to stabilise in 2012
- CSCL blames overcapacity for $95m loss
But carrier will take delivery of three 14,100 teu ships by year end to 'protect earnings'
|SEPTEMBER 28, 2011|
- Ship finance difficult before 2012
SHIPOWNERS will find it "very difficult" to get ship finance loans before the end of the year, a top maritime lawyer told Fairplay today
- Cosco mulls Piraeus stake
COSCO is considering bidding for shares the Greek government is to offer in the port of Piraeus, according to a local report from Greece
- Fatigue caused tanker collision
US SAFETY regulators found pilot fatigue was the major factor in a collision between tanker and a barge tow, which caused a major oil spill near Port Arthur, Texas last year
- Shippers urged to trim supply chains
SHIPPERS must consider every link in their supply chains if they want to cut emissions, industry representatives were told in Brussels today
- Horizon extends deadline
EMBATTLED Horizon Lines has extended the deadline for its crucial bond exchange to deal with administrative issues
- Sevan trading suspended
SEVAN Marine today asked the Oslo Stock Exchange to suspend trading in its shares
- EC awaits emission mitigation proposals
EARLY carbon mitigation within the maritime industry "makes economic sense", but concrete proposals have yet to be put forward in Europe, a Brussels conference heard today
- Eight new charters for TEN
NYSE-listed Tsakos Energy Navigation has announced eight new time charters, although its fixed-versus-spot ratio remains largely the same
- Felixstowe touts deepwater berths
THE UK is now able to handle the next generation of container vessels after the port of Felixstowe officially opened its Felixstowe South development
- Wan Hai reveals slot cost pressure
TAIWANESE container carrier Wan Hai claimed today that it wasn't just larger vessels that forced it to exit the Asia-North Europe trade
- VLCC earnings outlook reduced
FIRST Securities in Oslo today reduced its rate forecast for VLCC tankers for both 2012 and 2013, the second Oslo-based investment bank to do so this week
- Frontline faces years of losses
FRONTLINE, the world's largest operator of VLCCs and Suezmaxes, could be heading for an aggregate net loss of $434M in 2011-13, according to a forecast from Oslo-based First Securities
- Offshore conference in Ireland
THE IRISH and British governments are to discuss wind energy potential at a conference in Dublin in November
- Small owners "hard to get financed"
THE outlook for small owners is bleak, according to bankers at Marine Money in Singapore today
- Dutch government urged to pay for guards
A DUTCH law firm has criticised recommendations that Netherlands-based shipowners should hire armed guards to defend their vessels from piracy
|SEPTEMBER 28, 2011|
- Horizon Pushes Back Refinancing Target Date
Horizon Lines has delayed for one week its target date for completing a $655 million refinancing that would stave off...
- Asia Airlines Pull Back Freight Capacity
Cargo traffic for Asia-Pacific airlines fell 5.8 percent in August as carriers pulled back freight capacity even as the industry's...
- Kuehne + Nagel Names Rooney to Trans-Pacific Post
Kuehne + Nagel named former carrier executive William F. Rooney this week as its vice president of sea freight for...
- Freight Rate, Surcharge Updates for Week of Sept. 26-30
Mediterranean Shipping Company will apply a general rate increase on the eastbound trade from North Europe to the...
- STB Reviews Berkshire Buyout Impact on BNSF Rates
Federal regulators are opening a public proceeding on whether the premium Berkshire Hathaway paid in 2010 to buy BNSF Railway...
- Barone to Lead International Chamber Committee
The International Chamber of Commerce tapped Anthony Barone, director of global logistics policy for Pfizer, as chairman of the group's...
- DHL Launches Three Germany-Africa LCL Services
DHL Global Forwarding launched less-than-containerload direct services from Germany to Ghana, Kenya and South Africa, as the Deutche Post DHL...
- Private Equity Firms Gain Majority Stake in IAS
Two private equity companies, Warburg Pincus and Vestar Capital Partners, acquired joint control of IAS, a technology company that specializes...
- Economists Say Obama Plan Would Avert Recession
President Obama's jobs plan, heavy on infrastructure investments to rebuild roads, bridges, ports and schools, would help avert a recession,...
- WSC Keeps Widdows as Chairman
The World Shipping Council will keep Ron Widdows as chairman of its board through September 2012 after he steps down...
- Colombia's Avianca Orders Four A330 Freighters
Colombia's Avianca will pay about $500 million for four A330-200 freighters, as the South American country's flagship airline readies itself...
- C.H. Robinson Acquires Food Distributor
C.H. Robinson Worldwide acquired Timco Worldwide, one of the largest melon sourcing and distribution companies in North America and Latin...
- Kintetsu World Express Settles US Antitrust Case
Kintetsu World Express, Japan's second-largest international forwarder, said on Wednesday it will pay a $10.5 million fine to settle a...
- Loan Pushes Spanish Terminal Plan Forward
The European Investment Bank approved an $82 million loan to finance the construction of a new container terminal in the...
- Durable Goods Orders Slip 0.1 Percent
Increased demand for machinery, computers and communication equipment was offset by reduced orders for autos and primary metals, causing overall...
- Maersk Says New Mega Ships Won't Flood Market
Maersk Line doesn't expect the 20 giant new container ships it has ordered to flood the market, nor does it...
- Trans-Pacific Rate Benchmark Hits 2011 Low
The Drewry Container Rate Benchmark for trans-Pacific spot pricing fell for the second straight week in the week ending Sept....
- Maersk Adds China Port Call to Asia-Europe Service
Maersk Line expanded its Asia-Europe Service 7 with a direct call at Qingdao, China, effective this month. The additional...
- Felixstowe Opens Berths Able to Handle Mega Ships
The port of Felixstowe inaugurated the first deep water berths in the U.K. able to handle the latest generation of...
- DOT Finalizes Grant to Target Delaware Rail Snag
The Department of Transportation's finalization of a grant this week for rail work near Wilmington, Del., sets the state for...
|SEPTEMBER 28, 2011|
- Felixstowe South finally opened
- Container shipping sentiment collapses
- Poland gets improved Hamburg connection
- Fos 2XL takes further shape
- Transpac carriers in dangerous waters
|SEPTEMBER 28, 2011|
- Golden tops off stake
Bermuda-based bulker owner accumulates more than one million of its own shares in less than a week.
- Analyst bets on bulker bump
Demand for thermal coal may lift panamax rates in the weeks to come as Chinese stockpiles slip, analyst says.
- Navy destroys skiffs
Suspected Somali pirates toss weapons and equipment overboard as elite naval force springs into action.
- OSG sheds ATB duo
New York-listed tanker titan sells ageing articulated tug-barges to mysterious Nigerian tank farm operator.
- Tsakos ties up tanker octet
New York-listed shipowner poised to squeeze $140m out of freshly minted time charters tied to eight of its tankers.
- Rongsheng swells war-chest
Chen Qiang-led shipbuilder collects $5.5bn loan to power engine unit expansion and takeover efforts.
- Da Sin supramax fixed up
Singaporean owner nets one-year charter with Sinochart for latest newbuilding.
- NewLead details TMT feud
Cash-strapped bulker and product tanker owner fingers Nobu Su affiliate as contentious counterparty as losses mount.
- Balmoral blocked
Fred Olsen cruiseship delayed at Southampton after lifeboat deficiency found.
- Nevada passes Peter G
Seymour Schulich-led investment firm overcomes Peter Georgiopoulos to become Genco's number one shareholder.
- Spill "inconceivable"
Star Reefers' CEO Simon Stevens says it was impossible for Afric Star to leak crude, as Spanish authorities claim.
- Flex flushes Gulf chat
Oslo-listed LNG specialist washes away growing fears a key Papua New Guinea project has been binned.
- Marco nets upgrade contract
Shipyard bags work on ship that it has already built and delivered to client.
- Yujin depreciates
First-half turns red for London-listed chemical and bunker tanker owner as it revalues fleet.
- Reefer bailed in Spain
Star Reefers' Afric Star released in Algeciras after paying EUR 200,000 as probe begins into 2010 pollution.
|SEPTEMBER 28, 2011|
- Avoiding pirates
- Alphaliner: Transpacific rate plunge coming
The information service Alphaliner warned capacity withdrawals by transpacific container carriers have "come too late to counteract the plunge in freight rates" and predicted carriers will lose $300 million in the trade lane this year.It said rath...
- C.H. Robinson buys melon supplier
The logistics and produce company C.H. Robinson has acquired Timco Worldwide, one of the largest providers of melons in the Americas.Started in 1985 by Tim Colin, Timco markets conventional and organic melons under the "Melon Up!" and "Irish Eyes" ...
- Shipowners: Piracy could lead to alternate routing
The International Chamber of Shipping, which represents 80 percent of the world merchant fleet, warned that in the face of the inability to control Somali pirates "the shipping industry will be forced to look at all possible options, including alte...
- Rand Logistics raises $16 million for vessels
Rand Logistics said it has raised $16.1 million, net of underwriter's commission by selling 2.8 million shares of stock at $6 per share that it expects to use to partially fund the purchase of two dry bulk carriers, one of which is a self-unloade...
- HP Enterprise names Cook VP transport
HP Enterprise Services, an airline information system services provider, has named Brian Cook to vice president and general manager for travel and transportation services. Before joining HP, Cook was president of SITA Inc. U.S.A. and head of the Ai...
- U.S. Senate passes Rwanda investment treaty
The U.S. Senate on Monday approved a bilateral investment treaty with Rwanda by unanimous consent.The treaty establishes rules that protect the rights of U.S. investors and provide market access for future U.S. investment. They also support market...
- Coffee industry seeks trade stability
Members of the International Coffee Organization (ICO) are meeting in London this week to convene the first-ever Consultative Forum on Coffee Sector Finance.The forum was developed to address challenges faced by small and medium-sized farmers and t...
- U.S. presses renewables exports to Mexico
Obama administration and U.S. industry officials are in Mexico this week to promote exports of renewable energy technologies to that country. "Mexico offers tremendous potential for U.S. renewable energy and energy efficiency companies and the U.S....
- DHL expands African ocean service
DHL Global Forwarding has established three new less-than-containerload services between Bremen, Germany and Tema, Ghana; Cape Town, South Africa; and Mombasa, Kenya.Transit times for these direct shipments will be shortened by five to six days....
|SEPTEMBER 28, 2011|
- Euro debt concerns hit oil market
'We're likely to see more of a correction in oil prices as the slowdown in economic growth and demand does not bode well.'
- Rotterdam little changed as other markets firm
Prices relatively stable on Wednesday after the volatility seen in the past week.
- Fujairah firm, Durban still dry
Suez also seeing tight avails for some grades.
- Italian bunker players merge
New company will be known as Pisano Bunker Srl.
- Chemoil extends its US supply operations
Entering the Philadelphia bunker market 'with immediate effect'.
- New broker and trader for KPI Bridge Oil
Greg Araujo has joined the Miami office.
- Fuel issues 'much more important' than before
Bunker strategies 'changing the whole industry,' says head of Maersk Line's vessel management team.
- Cargo-carrying sailing ship is 'ambassador for the future'
Schooner is 'a practical and immediate answer to the intensive consumption of resources.'
- Bunker prices mostly firming in Asia
Slack demand at key Asian bunker hubs on Wednesday.
- Fire at Shell plant off Singapore
Operations at Pulau Bukom manufacturing site unaffected, says Shell spokesman.
- New role for Chevron marine fuel manager
Nina Zomaya joins Haymarket Risk Management as a Senior Consultant.
- Bunkering resumes in the Philippines
Philippine Coast Guard starts issuing clearance for barge movements on Wednesday morning.
- Petrolimex buys low density fuel oil cargo at record premiums
Scarce availability of low density, low viscosity cargoes in Asia.
- NuStar expands bunker operations in Houston
Offering ex-pipe 380 cSt grade at Galena Park in Houston from October 1, 2011 onwards.
- Weather affects Hong Kong bunker deliveries
Typhoon signal number 1 hoisted by Hong Kong Observatory on Wednesday morning.
- Banks 'far more cautious'
Only a small number of banks prepared to be involved in ship financing, says bank executive.