|JANUARY 31, 2011|
- Baltic index falls 4% to two-year low
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in nearly two years on Friday as the market continued to struggle with an excess of vessels.
- US mulls plan to boost air cargo safety
The United States is in talks with its allies, airlines and maritime groups about creating a global vetting system for international cargo, Homeland Security Secretary Janet Napolitano has said.
|JANUARY 31, 2011|
- Once sidelined CMA CGM chief Jacques Saade returns as CEO
- Ocean freight rates soften, Asia/Europe trade hurts most
- Maersk raises 2011 container forecast, 8pc growth or more
- CSX up 48 per cent to US$430 million, but boxes hit by pricing
- Canadian National 2010 profit up 13pc to US$2.1 billion
- ProLogis releases report on transport collaboration in Europe
- Cathay, Hong Kong top global air cargo league tables
- Hong Kong beats all, Memphis sings the blues in No 2 spot
- Atlanta still boasts busiest passenger airport, cargo up 17pc
|JANUARY 31, 2011|
- Incentives vital for growth of coastal shipping, says DGS
- Logistics in focus at APEX'11 summit
- Swire Oilfield Services establishes Indian entity
- Adani Group finalises business strategy for Japan operations
- Asia's top five box ports post healthy growth in 2010
- Berth No. 14 at NM Port records 91 pc occupancy
- IFFCO Kandla celebrates R-Day
- TPT is now v.o. Chidambaranar Port Trust
- Vasan inaugurates Common User Coal, Iron Ore & Car Terminals at Ennore Port
- Empty coffers may force Rlys to dump PPP model
- Seaplane service in Andamans launched
- 24.64 pc fall in iron ore exports in Dec.
- CBEC chief favours self-assessment for Customs clearance
- Cos Bill to be introduced soon
- DEPB benefits on milk products' exports withdrawn
- Exchequer to grow by Rs 37,000 cr.
- FDI dips by 24 pc
- Forex reserves set to cross $300 bn
- India-Japan pact may lead to zero duty textile exports
- Indian cos invited to set up units in Morocco
- Maran orders skill training programme for artisans
- More leather clusters may get TEE status
- RBI rate hike may affect growth, says Assocham
- SAIL to explore Indonesia's mineral wealth
- New system to cut paperwork on way, says DGFT
- R. Gopalan is Secy, Economic Affairs
- Rules needed to stop food crisis: FAO
- Sushma Nath may be new Finance Secy
- U.K. Sinha may be new Sebi chief
|JANUARY 28, 2011|
- India considers construction of new cargo airport near Delhi
The Indian ministry of civil aviation is considering the construction of an international cargo airport in the federal state of Haryana, just outside the capital New Delhi. 3,000 a...
- ProLogis confirms merger talks with AMB
The two logistics real estate development giants, ProLogis and the AMB Property Corporation, are in discussions concerning a potential merger. The move would combine ProLogis and A...
- Mango investing in new Barcelona logistics centre
The Spanish fashion enterprise Mango, based in Palau de Plegamans (Catalonia), is investing around EUR 360 million in a new logistics centre in Llica d'Amunt in the province of Bar...
- DHL expanding services in Lebanon
DHL has completed a USD 4.2 million investment programme in Lebanon. It includes the expansion of DHL Express's Beirut airport facility at Rafik Hariri international airport. The o...
- City Sprint acquires Mainlink Courier Services in UK
The British CEP service provider City Sprint has made its first acquisition of 2011, acquiring Swindon-based Mainlink Courier Services for an undisclosed sum. Mainlink Courier Serv...
- Gefco Germany transfers Hanover operations
The German national branch of the French company Gefco has started operations in a new overland hub in the Wedemark logistics park near Hanover. The centre is close to the A7 and A...
- French road haulage association FNTR calls for fair framework
The French national road haulage association F'd'ration Nationale des Transports Routiers (FNTR) believes it to be imperative that the country's labour and tax laws are brought int...
- Private investors sought in Russian railway sector
The Russian prime minister Vladimir Putin has said that he wants to see private investors in the railway sector, in order to make transportation more effective, safe and affordable...
- Japan banking on hybrid locomotives
Having assumed a leadership role in the development of hybrid cars, Japan now also wants to push for the introduction of environment-friendly trains. The first such locomotives wer...
- Iata e-freight starting in Basel
Basel/Mulhouse/Freiburg's EuroAirport has become the third Swiss centre to offer paper-free airfreight activities, after Zurich and Geneva. Swiss WorldCargo, Swiss International Ai...
- FAA penalises SkyWest
The US civil aviation authority FAA has proposed USD 359,000 in civil penalties against SkyWest Airlines of St George UT for alleged violations of federal aviation regulations. The...
- Namibia and Botswana to evaluate rail capacity upgrade
A pre-feasibility study that is looking at increasing the rail capability on the TransKalahari Corridor (TKC) has now started. The survey was commissioned by the governments o...
|JANUARY 30, 2011|
- UN envoy seeks action against pirate ring leaders
- Junk rating for debt of Northrop Grumman shipbuilding spin-off
|JANUARY 28, 2011|
- Port of Portland delivers positive marine cargo numbers
- Coast Guard, Washing DOE trace oil sheen to Columbia barge
- Diana Shipping inks time charter deal for THETIS
- Washington ferries closing terminal for extended preservation project
- Weekly rail freight traffic continues to head upward
|JANUARY 28, 2011|
- Excel yanks bond issue citing Korea Line fall-out
Dry bulk owner concedes that proposed offering has become less attractive than originally anticipated
- Euroseas owner says box recovery has long way to go
Conditions are still not healthy in some parts of the market, says Pittas
- CMA CGM inks deal with banks on debt restructuring
Agreement comes as Jacques Saad' is reinstated as line's chief executive
- Capesize owners withhold ships
Baltic Exchange average capesize time charter rates hit a two year low
- Suez canal cancellations spark trade concerns
Exclusive: navigational restrictions expected on Suez Canal as political situation in Egypt worsens
- Advent taxies into Brazil ports sector
The private equity firm, one of the largest airport operators in Latin America, has bought a 50% stake in TCP
- BDI continues to fall
Leading the decline were rates for panamaxes in the Atlantic trading region as ballasting ships from the Pacific arrived and caused an oversupply
- Hapag-Lloyd trade hit by Cote d'Ivoire sanctions
Sanctions force line to stop taking cargo bookings to the country's ports
- Group accused of distorting facts on Bangladesh breakers
IMO slams the NGO Platform on Shipbreaking
- Fair pay rule may backfire
Brussels' threat to launch legal action against UK over crew pay discrimination may backfire
- Friends of the Earth back California shortsea plans
Environmental lobby group sees benefit of plans to introduce services in California
- North P&I to offer hull and machinery cover
To offer a new fixed premium hull and machinery insurance product from July 1
- UK court confirms ransom payments not illegal
Court of Appeal upholds earlier decision over ransom payments to pirates
- Crunch looming on low sulphur fuel
Shipping industry faces an uphill battle to comply with a 2015 deadline as technology solutions are too new, too expensive and any changes will likely be too late
- Anthony Veder orders second LNG tanker
Dutch specialist expects demand for small scale LNG to grow
- Wärtsilä boss Johansson to step down in June
Ole Johansson has announced his intention to retire from the company
- German yard P+S bags order for five ice-class vessels
Greenland's Royal Arctic Line secures $98m financing for order from KfW Ipex
- Stena Bulk opts for armed guards
Tanker owner to put Russian contractors onboard to protect crew against pirate attacks
- Dispute between owners may lead to sale of arrested boxships
Vessels likely to be auctioned after disputing Austrian and German owners refuse to cooperate
- Bristol is leading the way in Port Security Regulations 2009
Bristol is the only 'pilot' port to be designated under uk security regulations
- Paranaguá terminal sees throughput of 675,000 teu
- Jones Act product business improving, says K-Sea
Sector past low point and improving slowly
- Geography is never a trivial pursuit
Falling education standards, reliance on satnavs and Google have left an entire generation unable to find their way round the world
- Return to line
It looks as if the Saad' family is firmly back in control of CMA CGM
- Shreyas sees 46% surge in revenues
Shortsea carrier third quarter revenues reach $107m
- Owners reject low capesize deals under $10,000 daily
Tumbling rates drop below operating costs for the first time since January 2009
- Bharati plans rights issue to reduce debt
Planned equity sale aimed at reducing debt and financing acquisitions
- Shrinking fleet and delivery delays hits Precious
Net income in 2010 plunges around 70% to $29.2m
- Maintenance failures revealed in Pacific Adventurer report
Failings led to loss of boxes that punctured vessel's fuel tanks
- Meiji trims its losses
Narrows losses to $1.6m in nine months ending December 31
|JANUARY 28, 2011|
- Excel backs out of bonds
DRYBULK player Excel disclosed today it will postpone its $250M junk-bond offering, blaming fallout from Korea Line's receivership.
- BDI slippage continues
THE BDI fell another 4.1% to 1,137 points today, after yesterday shedding 3.9% to 1,186 points.
- 4Q recovery lifts Wärtsilä
FINLAND'S Wärtsilä today reported profits of €397M ($542M) for 2010, up slightly from €396M a year earlier, while also announcing the retirement of its president and CEO.
- MR rates rise - for now
SPOT RATES for MR product tankers firmed considerably this week, but analysts suspected that the rise would not be sustained.
- Bank predicts oil surge
JP MORGAN Chase said today it expects OPEC to boost crude oil shipments through to mid-February because of healthy winter demand from the icy US and Europe.
- Pluto LNG to be shipped to Petronas unit
WOODSIDE said today it has agreed to supply 19 LNG cargoes to Malaysia's Petronas from its Pluto LNG project in Western Australia.
- Shortages threaten Pakistan's bunker sector
PAKISTAN'S bunker industry has said it can meet the needs of just 10% of foreign vessels, with the rest instead replenished in India, Singapore, Saudi Arabia and Sri Lanka.
- Saadé regains CMA CGM control
CMA CGM founder Jacques Saadé has taken back the top management role at the Marseilles shipping group after a senior management shuffle.
- Russian arrested in Volgotanker dispute
A HIGH-ranking Russian police officer has been arrested on allegations involving shares of the now-bankrupt shipping company Volgotanker.
- Hanjin swings to profits
SOUTH Korea's Hanjin Shipping returned to profits last year, boosted by improvement in its box business.
- Cyclones flank Australia
TWO CYCLONES that had reduced in intensity are once again threatening Australia's East and West coasts, while a third is menacing the top of New Zealand's North Island.
- Passengers killed in ferry fire
AT LEAST 13 people were killed after a ferry caught fire this morning in Indonesia, according to local authorities.
- Oz ports face strikes
STRIKES are again expected at Australia's Fremantle and Albany this weekend, as talks on a new enterprise agreement with Patrick Stevedores have broken down.
- Slow steaming inquiry set
REGULATORS plan a US inquiry on slow steaming's effects on liner trades, after complaints about bunker charges.
- China buys into more Australian LNG
AUSTRALIA's LNG Ltd has sold a 19.9% stake to China National Petroleum for A$25.6M ($25.45M).
|JANUARY 28, 2011|
- Environmental Group Urges Caution in Marine Highways
Friends of the Earth in California cautions that the condition of the ocean environment should be a factor in developing...
- Ship Orders Returning to Normal, BIMCO Says
Orders for new container ships are returning to normal levels this year as orders decline 21 percent over the last...
- Mica, Others Warn STB Over Rail Regulation
House Transportation and Infrastructure Committee Chairman John Mica and several other key members of that panel from both political parties...
- USA Truck Narrows Loss as Volumes Rise
Truckload operator USA Truck lost $1.8 million in the fourth quarter, despite a decline in empty miles and substantial increase...
- London Heathrow Cargo Falls 9.4 Percent
Cargo volume at London Heathrow Airport tumbled 9.4 percent in December as a series of winter storms and tougher year-over-year...
- Indian Coast Guard Thwarts Pirate Attack on Container Ship
The Indian Coast Guard foiled an attempted pirate attack Friday by two skiffs that were closing in on a CMA...
- Canadian Freight Index Drops 2.8 Percent
Canadian shipping costs dropped for the second straight month in November, as freight demand cooled in the fall, according to...
- Egypt Protests Raise Suez Canal Concerns
The Suez Canal remained open Friday as riots against Egyptian President Hosni Mubarak spread across Egypt, raising concerns the protests...
- Intermodal Powers Earnings Growth at J.B. Hunt
Stronger intermodal and trucking demand gave J.B. Hunt Transport Services a fourth quarter boost, with net profit increasing 39 percent...
- FMC to Host Former Chairmen at Roundtable
Chairmen of the Federal Maritime Commission on Feb. 2 will take part in a roundtable to discuss the agency's past,...
- Notice to JOC Subscribers
Because of the heavy winter storms that hit the U.S. Northeast region this week, including the area surrounding our printing...
- UP's Kaiser Predicts Intermodal Capacity for 2011 (Video)
Associate Editor John D. Boyd questions John E. Kaiser of Union Pacific Railroad on the intermodal market's capacity outlook for...
- Maersk Suspends Some Shipments to Ivory Coast
Maersk Line refuted a report Friday that it stopped handling cocoa exports from Ivory Coast and is not taking new...
- Amazon Adding More Distribution Centers
Amazon.com will add an unspecified number of distribution centers this year as the online retailing giant tries to keep up...
- Ocean World Lines Opens Poland Office
Ocean World Lines, an NVOCC subsidiary of freight transportation and logistics provider Pacer International, opened an office in Szczecin, Poland....
- FMCSA Sets Trucker Hours of Service Hearing
Hostility toward proposed changes to truck driver hours of service rules could come to a boil at a Feb. 17...
- Damco to Provide Logistics for Abu Dhabi
Damco, the logistics unit of A.P. Moller-Maersk, formed a joint venture with General Holding Corporation to provide logistics and forwarding...
- Hub 4Q Profit Rises on Intermodal, Logistics Business
A solid 19 percent revenue gain in its principal intermodal business and a 38 percent leap for its logistics unit...
- GDP Rose 3.2 Percent in Fourth Quarter
Consumer spending and exports fueled 3.2 percent growth in the U.S. economy during the fourth quarter, completing a year in...
- Jacques Saade Returns as CMA CGM Chief Executive
Jacques Saade returned to the position of chief executive of CMA CGM as Turkish investors injected $500 million into the...
- Hanjin Swings Into Black With $229 Million Profit
Hanjin Shipping swung into the black in 2010, riding higher demand and stronger freight rates to a $229 million net...
|JANUARY 28, 2011|
- Davos schmoozing as north Africa burns
Around 2,500 of the 'most powerful people in the world' - or the great and the good, the not so good and the hangers on - are on their final lap of back to back seminars, networking and cocktail parties at the World Economic Forum's (WEF) annual meet at the Swiss Alpine resort of Davos-Klosters.
- Shipowner angered by pirated ship's helplessness
- Egypt in crisis
- FMC to investigate slow-steaming
- Japan's exports up, but S&P downgrade rating
- GPA supports rival Charleston's dredging
|JANUARY 28, 2011|
- Teekay vet goes Tactical
Former Teeky Corp and SPT executive carves a name in niche sector with shipmanagement pact led by Tactical Marine Solutions.
- K-Sea goes clean
US tug and barge group takes a hit in the final quarter but CEO Timothy Casey says costly investments will pay off.
- 'Siege' on German tanker
Crew of Lloyd Fonds-owned, Heidmar-connected New York Star staying in citadel after pirate attack.
- Alafouzos gets paid
Greek media mogul's maritime wings sheds tanker for $18.8m as house cleaning commences ahead of 2011 deliveries.
- Two flee Beluga pirates
Danish warship finds two crew members of hijacked Beluga Nomination alive after bid for freedom, fate of colleagues unknown.
- Tanker stocks surge
Shares of US-listed tanker owner General Maritime gain 12% out of the gate as Egyptian protests spread to Suez.
- Tunisia halts car imports
Political turmoil in North Africa stalls car-carriers as Tunisia's interim government continues corruption probe.
- P+S grabs Arctic orders
Two of German builder's yards to share five newbuildings from Greenland's Royal Arctic Line.
- Cargill calls Diana
US agricultural heavyweight keeps Diana Shipping bulker fed for a year with $4.5m time charter.
- KLC chaos kills Excel issue
New York-listed owner axes $250m fundraiser following Korea Line's filing.
- Saade reclaims crown
CMA CGM founder back at the helm following completion of $500m investment deal.
- Boa Fortune to be laid-up
Norwegian owner warns it will not trade platform supply vessel until rates pass '7,000 mark.
|JANUARY 28, 2011|
- FMC drops requirement for Japan reports
The U.S. Federal Maritime Commission has decided to discontinue a 13-year-old proceeding involving Japanese ports and shipping that required five container lines in the U.S./Japan trade to submit semi-annual reports. The FMC said in an order on We...
- Security tops Napolitano agenda in London
Napolitano Homeland Security Secretary Janet Napolitano arrives in London Friday to meet with Efthimios Mitropoulos, secretary general of the International Maritime Organization, and British officials. Mitropoulos Napolitano will discuss ways to im...
- DHS replaces color-coded terror alert system
The U.S. Department of Homeland Security is scrapping the color-coded alert system implemented after 9/11 with a new system designed to provide the public more detailed and useful information, Secretary Janet Napolitano announced Thursday. Under t...
- Interactive APEC tariff database pilot starts
The National Center for Asia-Pacific Economic Cooperation (NCAPEC) and the U.S. Council for International Business (USCIB) have started the pilot phase of the APEC Interactive Tariff Database. The database provides business in the APEC region with...
- Haka named Florida East Coast Railway COO
Florida East Coast Railway has appointed Joel Haka to executive vice president and chief operating officer, effective Feb. 21. Haka brings more than 30 years of experience in maritime operations to the railway, which operates between the Florida po...
- Survey: Forwarders slow to embrace e-freight
A global survey by two industry groups found many freight forwarders are still unwilling to fully embrace airport-to-airport e-commerce programs, such as the International Air Transport Association's e-freight initiative, unless they realize a sig...
- President renominates FMC Commissioners
CorderoPresident Obama has renominated Mario Cordero and Rebecca F. Dye as Federal Maritime Commissioners. Dye The U.S. Senate Committee on Commerce, Science, and Transportation favorably reported out both nominations in December after holding a h...
- Hanjin first up with major 2010 profits
Korean liner carrier Hanjin Shipping said Friday its container division turned a $532 million operating profit in 2010, a massive swing from the $652 million the container line lost in 2009. Hanjin's container line revenue rose 52.4 percent during...
- FMC receives comments on EU ship regulation
Carriers have weighed in on the effect of the European Union''s decision to repeal the block exemption for liner shipping conferences in October 2008, as part of an investigation being conducted by the Federal Maritime Commission. The FMC request ...
- Federal Maritime Commission
FMC receives comments on EU ship regulationCarriers have weighed in on the effect of the European Union''s decision to repeal the block exemption for liner shipping conferences in October 2008, as part of an investigation being conducted by the . F...
|JANUARY 28, 2011|
- Wärtsilä's President and CEO to retire
The President and CEO of Wärtsilä Corporation, Mr Ole Johansson, has decided to retire in June 2011. He will not be available as a member of the W'rtsil' Board of
- Record number of passengers in Ports of Stockholm
More than 12 million passengers travelled via Port of Stockholm's three ports in Stockholm, Kapellsk'r and Nyn'shamn in 2010 ' a new record. The passengers travelled across the Baltic Sea to
|JANUARY 28, 2011|
- Matson raises fuel surcharge
First increase the company has made since February 2010.
- Week ends with mixed prices
Crude futures head higher after anti-government protests escalated in Egypt.
- RAND report triggers debate over advanced biofuels
Industry leaders argue market exists for biofuels despite findings of RAND report.
- IMO and EU discuss need for global regulations
Efthimios Mitropoulos believes there will be sufficient fuel to meet Annex VI emission reductions targets for sulphur oxides.
- New LPG engine 'safe, reliable and low-maintenance'
Engine will be able to power small tankers, container vessels and ro-ro ships that operate in coastal areas and on inland waterways.
- Clean energy could power the world in 20 to 40 years
New study says that ships powered predominantly by battery and hydrogen fuel cells would have a payback period in 10 to 20 years.
- Pakistan IFO supply suffers heavy declines
Delayed import of furnace oil has scaled down the local bunker industry's businesses by as much as 80%.
- Fujairah market firms
Avails are reported to 'very tight' in Fujairah.
- IFO prices 'stable' in Rotterdam and Hamburg
Little activity in Hamburg market.
- New bunker terminal planned for the Philippines
Manila North Harbor operator sets aside land for bunkering and logistics.
- Vessel arrested over 'unpaid bunkers'
Singapore trader moves against Malaysian tanker operator.
- Cruise line reports lower than forecast bunker costs
Hedging and energy efficiency boost Royal Caribbean Cruises' bottom line.
- Bunker prices at key ports end week firm
Supplies 'tight' across most ports, traders say.
- MPA: No spill from sunken Singapore vessel
Vessel carrying 64 mt of heavy fuel, 19 mt of marine diesel oil and 5 mt of lube oil at the time of the incident.
- Strong bunker demand lifts East China fuel oil imports
East China is second largest importer in the country, outdoing South China.
- Cargo arrival to ease tight avails at Queensland ports
Berth congestion currently delaying resupply tanker, according to Australian supplier.
- South China fuel oil stocks at historic high
Total volume at 1.83-1.85 million mt, 67% of total storage capacity in South China.
- New report: Major threats of short sea shipping
Ships use 'one of the dirtiest fuels on the planet,' study addresses potentially harmful impacts of coastal shipping.