|APRIL 2, 2012|
- Wilbur Ross mulls over further investments in shipping
Billionaire Wilbur Ross said he's considering further investments in shipping as financial distress within the maritime industry intensifies.
- Baltic sea index up on higher capesize rates
The Baltic Exchange's main sea freight index, which tracks rates for ships carrying dry commodities, rose on Friday as rates for large capesize vessels climbed for a fourth straight day on higher iron ore activity.
|APRIL 2, 2012|
- China Cosco posts 255pc loss of US$1.66 billion, boxes lose $1 billion
- Hutchison profits up 14pc to US$1.51 million in 2011, revenue rises 12pc
- Asia-Europe freight rates rise again, soaring 21pc to US$1,660/TEU
- United States manufactured durables sales increase 2.2pc in February
- Breakbulk, general cargo resurgent, but desperate box ships want in
- Shanxi's road transport volume hit 111 million tonnes in first two months
- Mumbai's Nehru port reopens after government, protesters come to terms
- Chennai port blocked, but container backlog clearance expected today
- SinOceanic II takes delivery of 13,100-TEU ship from Hyundai Heavy
- Prefab houses for Chinese railway builders leaves Tianjin for Ethiopia
- China's logistics companies still face heavy pressure as demand slows
- Singapore port authority chief looks to bright future with Panama Canal
- Cargolux suffers 2011 net loss of US$18.3 million as revenue rises 8.4pc
- UPS-TNT combo tops DHL, dwarfs FedEx in Europe, but not in Asia
- Gujarat garment air exports fall, but rescued by new products: Emirates
- American Airlines Cargo files for bankruptcy, then goes on spending spree
|APRIL 2, 2012|
- A different event with the right focus
- Capesize hire costs at 14-year low
- CMA CGM awarded two prizes for excellent customer service
- Hanjin Shipping announces new Europe service catering to south, east India
- Moore Stephens warns on new trap under UK tonnage tax
- SCI merges Europe, Med services
- Sea Marshals first to gain new armed guard insurance
- Ship agents under increasing pressure from telex releases
- JN Port achieves new high of over 4.3 m TEUs in 2011-12
- Kandla Port tops again in cargo handling
- V.O. Chidambaranar Port begins cargo handling trials at new berth
- Vizhinjam Seaport bid to be renegotiated
- Exporters welcome BRICS decision to trade in local currencies
- Forex reserves rise to $ 295.14 bn
- Update your Data on Foreign Trade Policy, Customs Law & Exchange Control Regulations-Part-4
- A. S. Shipping Agencies appointed new CEE network member in India
- Fairstar Heavy Transport contracted to provide services for Chevrons Nigerian project
- Project cargo training helps with succession planning
|MARCH 30, 2012|
- Air Namibia postpones regional service launch
The southern African carrier Air Namibia has postponed its planned service resumption on the Windhoek - Harare (Zimbabwe) route and the new service launch on the Windhoek - Gaboron...
- JAL Cargo fuel surcharge from April
With effect from 1 April 2009, the Japanese airline JAL has been adjusting its cargo fuel surcharge levels on a monthly basis by using the one-month average fuel price of Singapore...
- LH Cargo to add Montevideo to its network
The German carrier Lufthansa Cargo offers flights to 303 destinations in 99 countries. New in the cargo carrier's global network is the Chinese metropolis Chongqing. Kolkata (Indi...
- GM award for Grimaldi Group
The Italian carrier Grimaldi Group has been recognised by the US-based car manufacturer General Motors as a 2011 world class automotive supplier of the year. Grimaldi was chosen ...
- Canadian Government to invest in Montreal and St Lawrence
Denis Lebel, the Canadian minister of transport, infrastructure and communities, has announced that his country's federal government will invest in the enhancement of the container...
- New centre of excellence for MAN vehicles in Central Switzerland
The German vehicle manufacturer MAN recently opened its new centre of excellence in Emmen (Switzerland), following a two-year planning and construction period. Inspection lanes, di...
- PCC Intermodal received the AEOS certificate
The Polish transport service provider PCC Intermodal has received the authorized economic operator/security and safety certificate (AEOS). This certification is an important asset ...
- Online Systemlogistik collaborating with OneExpress
The German forwarding alliance Online Systemlogistik für Spedition & Service GmbH has set up an alliance with OneExpress Italia SpA. The latter forwarding collaboration operate...
- SBB Cargo: 2011 results
The Swiss railfreight service provider SBB Cargo posted a loss of CHF 55 million in 2011, and saw its transport performance slip by 5.8% to 12.346 billion ntkm. At a press conferen...
- Osec names new head of communication and marketing
Osec, Switzerland's trade promotion network, has appointed Bianca Rühle-Heeb as head of its communication and marketing division. She will take up her tasks in mid April, replacing...
- SASI with two new appointments
Strategic Aviation Solutions International (SASI) has appointed two new senior advisors to the company. Uwe Beck, senior advisor property and facilities, was responsible for leadin...
- Kerry Logistics reports strong growth in turnover and profits in 2011
Kerry Logistics reported a 47% increase in turnover to HKD 16.034 billion (USD 2.061 billion) and boosted its net profit by 11% to HKD 740 million (USD 95 million) in 2011, excludi...
- Ceva Logistics announces two year contract renewal with Renault in Brazil
Logistics and SCM specialist Ceva Logistics has signed a two year contract extension with Renault in Brazil for the receipt, storage and consolidation of automotive parts for expor...
- Agility obtains good distribution practice certification in Ireland
The global logistics service provider Agility has obtained good distribution practice (GDP) certification for its pharmaceutical competence centre (PCC) in Ireland. The certificate...
|MARCH 30, 2012|
- Azamara Quest arrives in Sandakan, Malaysia, under own power
- Giant ice-class AHTS on sea trials following completion by Chouest
- Ingalls Shipbuilding gets $76 million to buy materials for seventh NSC
- Former Vinashin chief gets 20 year prison sentence
- Corvus batteries chosen for Europe's first hybrid tugboat
|MARCH 30, 2012|
- Port of Bellingham warns public to stay clear of Squalicum Harbor fire
- Weekly rail freight traffic delivers up/down numbers
- Three parties pre-qualify for Panama Canal bridge project
- Maersk Line announces plans for Asia/US general rate increase
- Crowley works new contract with Puerto Rico Teamsters
|MARCH 30, 2012|
- Britain remembers vital role of shipping in Falklands War
Merchant fleet critical to 1982 conflict
- Atlantic Conveyor loss a serious blow
Master awarded posthumous DSC
- Damco system irons out purchase order wrinkles
Damco says its Dynamic Flow Control can offer 'significant' savings by making it simpler to update purchase orders and optimise container fill rates
- It's the meaning that matters
We have sustainable fishing and sustainable ship technology, but do we have a financially sustainable industry?
- NY-NJ cost-cutting targets non-union benefits
Savings pegged at $41m through to end-2013
- VLCC earnings reach highest levels since February 2011
But can Middle East-Asia spot prices top $50,000 a day?
- Nordic Tankers' fleet sale to spark consolidation
Industry sees arrival of new 120-ship chemical tanker entity as smaller companies struggle to survive
- Snake oil or solution?
Scepticism about overhyped technologies can become a Luddite refusal to change
- Cosco still upbeat after heavy loss
Chinese shipping conglomerate talks about acquisitions and attacks Vale over giant vessels
- Exmar orders eight medium LPG carriers
Company opts for hi-spec 'green' vessels
- Suez terminal hit by go-slow
Action by 800 workers over benefits disrupts operations at Port Said hub
- Capesize owners anchoring for better days
Week ahead will be slow, affected by Easter and Chinese holidays
- Seaborne coal trade will top 1trn tonnes by 2016
Macquarie outlook bullish despite rising Chinese and Mongolian output
- Diana snaps up seven-year-old panamax for less than $21m
Confirmation of Mining Star deal comes a day after ice-class vessel orders
- HHLA forecasts 5% growth
Terminal operator predicts rise in box handling above market average
- MPC Capital back in the black
Restructured KG house makes €1m profit as it negotiates new finance deal with banks
- Evergreen in $105m yearly loss
Negative result follows 12% drop in operating income
- EU funding to aid BCT expansion
Project will increase box capacity at Polish port by 60% in three years
- Faint whiff of optimism
While many owners still face financial difficulties, there is hope for the future of environmental technologies
- Attica flags up bank talks after latest loss
Fuel costs and diminished traffic continue to bite Greek ferry lines
- Adani Ports gets $1.2bn refinancing loan
Money from Australian and Asian lenders will refinance bridge loan for Abbot Point coal terminal
- Cosco shocker
China's biggest shipping company needs to explain how it will make money this year
- GasLog completes IPO at $14 a share
Despite modest debut LNG offering gives NYSE cause for cheer
- Sanko Steamship grasps three-month lifeline
Shipowner forced to sell vessels as creditors freeze debts repayments
|MARCH 30, 2012|
- Damen taking over SOBRENA
THE DUTCH shipbuilding and repair group Damen told Fairplay this afternoon its bid for leading French ship repairer SOBRENA had been accepted by a court in Brest
- Hamburg approves €420M Hapag investment
HAMBURG's state parliament has approved a €420M ($560.82M) investment in box giant Hapag-Lloyd
- More strength seen for vehicle carriers
THE CAR carrier business is outperforming most shipping sectors these tough times, and its short-term outlook looks brighter still, RS Platou Markets said
- Victims' relatives settle
RELATIVES of five Indian fishermen who were killed in a collision with a bulker told Kerala High Court today they have agreed to a settlement
- Indian court clears sailing of ship in slayings
A TANKER from which the shots were allegedly fired that killed two fishermen has been conditionally released by an Indian court
- GSI's profits fall
CHINESE shipbuilder Guangzhou Shipyard International today announced a 38% drop in profits for 2011
- China COSCO unveils deep losses
THE BOX shipping, logistics and drybulk giant China COSCO Holdings has reported deep losses for 2011
- Lingering oversupply seen
A REPORT from a ratings agency has warned that shipping worldwide can expect oversupply pressures until at least 2014, plus a growing credit squeeze that hampers lending
- Box alliances could mitigate ULCS threat
BOX CARRIER alliances could mitigate the threat of overcapacity on Asia/Europe box trades, Credit Suisse has predicted
- Box giants risk negative cashflow
MAJOR box carriers could resort to more secondary offerings in equity markets, warned shipping analyst Janet Lewis
- Asian IPOs exceed 2008 totals
IPO TOTALS for Asian shipping groups have risen steadily since the financial crisis struck in 2008, a Standard Chartered Bank report has found
|MARCH 30, 2012|
- Family Dollar to Increase Inventory 20 Percent
Family Dollar Stores' plan to increase inventory up to 20 percent by adding new products and opening up to 500...
- FMCSA Closes Unsafe Utah Trucking Firm
Federal regulators shut down trucking firm Reliable Transportation, citing the carrier and its owner for "countless" violations of driver work...
- China Merchants Profit Drops 5.2 Percent
China Merchants Holdings reported a 5.2 percent year-over-year drop in net profit for 2011 even as the volume of containers...
- Drewry Questions Whether Rate Increases Will Hold
Although spot freight rates on the Asia-Europe and trans-Pacific trade lanes have risen dramatically as a result of the general...
- Protests at India's Port Nehru End
India's Port of Jawaharlal Nehru (Nhava Sheva) resumed operations on Thursday night following the end of a three-day campaign of...
- ILA, USMX Exchange Contract Proposals, Express 'Optimism'
The International Longshoremen's Association and its East and Gulf coast employers exchanged initial contract proposals and expressed optimism about reaching...
- Expeditors' Rose Denies Price-Fixing Allegations
Expeditors International of Washington "vigorously denied" price-setting allegations that resulted in a $5.5 million fine from the European Commission. ...
- Hapag-Lloyd to Hike India-US Rates
Hapag-Lloyd will impose a general rate increase on all cargo from the Indian Subcontinent to the U.S. and Canada, starting...
- Kerry Logistics Profit up 11 Percent
Kerry Logistics booked substantial growth in turnover and profit last year as its investments in China and Southeast Asia started...
- Delaware Truckers Charged With Shipper, Tax Fraud
Two trucking company owners already charged with defrauding a shipper customer now face charges that they tried to scam the...
- Air China and Cathay Pacific Increase Cooperation in Shanghai
Air China and Cathay Pacific are extending their cooperation by establishing a joint venture ground handling company in Shanghai. ...
- Maersk to Clear Backlogs, Raise Rates on North Europe-Asia Services
Maersk will clear backlogs on North Europe-Asia services by early May and introduce a new general rate increase from the...
- NY-NJ Port Authority to Create Single Security Department
The Port Authority of New York and New Jersey will consolidate all its security functions into a new department as...
- China Cosco Reports $1.66 Billion 2011 Loss
China Cosco Holdings swung to a full-year net loss of $1.66 billion in 2011, according to Chinese accounting standards, because...
- Nippon Express Buys US Logistics Firm AGS
Nippon Express Co., Japan's largest international freight forwarder, said that it has acquired a 100 percent stake in U.S. logistics...
- Challenges Mount in Trans-Atlantic Shipping Lanes
The trans-Atlantic trade, long the most stable of the east-west shipping markets in terms of freight rates and vessel capacity,...
- Port Development: Baltimore's Inside Track?
The Port of Baltimore, despite being on the doorstep of one of the world's wealthiest consumer markets, has struggled to...
- Infrastructure Investment: The Long View
At the risk of trying to make sense out of nonsense, here's a question: When Congress and the administration cite...
- MOL Expands Africa-Asia Shipping Services
MOL will expand its container shipping services between Asia and Africa with a new route next month. The company's...
- PSA Sees Profits Fall Despite Global Volume Growth
Singapore's PSA Group recorded a 3.7 percent drop in profits last year despite volumes handled at its global portfolio of...
|MARCH 30, 2012|
- PSCCHC facility offers increased draft
Port Said Container and Cargo Handling Co [PSCCHC] the state-controlled operator of the container terminal in West Port Said, has announced that its quayside draft ...
- Samskip adds Norwegian port to its portfolio
Multimodal container logistics operator, Samskip, has added the Norwegian port of Flekkefjord, to its offering on the weekly NWC [Norwegian West Coast] to Rotterdam ...
- HHLA still keeping shareholders happy
Hamburg's largest stevedore Hamburger Hafen und Logistik AG (HHLA) made another healthy profit last year, underlining the very favourable conditions of the container ...
- HPH shows resilience in 2011
Hong Kong-based Hutchison Port Holdings (HPH), the world's largest operator of container terminals, revealed the continuing resilience of this business sector as ...
- CMHI posts healthy results for 2011
China Merchants Holdings International (CMHI) saw revenue port operations grow in 2011 on the back of a rise in cargo handled and the 'nurturing of new profit growth ...
- COSCO at top of red ink list
China COSCO Holdings has plummeted into the red for 2011 with a huge net loss of USD1.4 billion. This compares to a 2010 profit of USD1.3 billion. Revenue plunged ...
- DP World expects EBITDA margins to continue improving
Speaking at the annual results announcement yesterday, DP World chairman, Sultan Ahmed bin Sulayem said he was confident that operating margins at the port operating ...
- Maersk asks its North European clients to pay more
But that is not until Europe's shippers are able to book their cargo with the Danish carrier again after its immediate 'booking stop' imposed last week.Indeed, ...
- ZIM Line sees recovery ahead
Israel's flag carrier, ZIM Line, has posted a thumping loss for 2011 but pointed to a 'discernable' recovery in the market supported by increased freight rates' ...
|MARCH 30, 2012|
- Bodouroglou's battle cry
Paragon CEO says unbalanced relationship between owners and charterers is a major threat to industry's long-term health.
- Arctic joins DSX fuel debate
Norwegian equity guru praises fuel-efficient bulker newbuildings on the heels of Diana Shipping's spending spree.
- Grand China burns TMT
Nobu Su-backed VLOO owner storms New York court with million-dollar claim against "cash starved" Asian operator.
- Cantor exits shipping
New York firm chops maritime banker Geoff Martin only days after seeing off analyst Natasha Boyden on march out of sector.
- GasLog down on NYSE debut
Shares in Wall Street newcomer follow a familiar pattern as they slip below the curtailed offer price.
- River Princess going slowly
Bulker stuck on Goan beach for 12 years is finally being dismantled.
- Platou sounds capesize alarm
Wave of bankruptcies a danger if rates do not pick up, RS Platou Markets says.
- Falcon's wings clipped
Vietnamese bulker arrested at port of Paradip in India over unpaid fuel bill.
- Diana strikes again
Bulker binge tops $78m as Simeon Palios-led shipowner pounces on a third panamax in less than two days.
- Sietas sell-off gains pace
Sale of long-established German shipbuilder steps up a gear as receiver talks to prospective buyers.
- Subsea 7 wins SURF gig
Kristian Siem's offshore owner adds $175m to its coffers with another North Sea contract.
- Sincere slides
Taiwanese bulker owner records 2011 earnings fall as operating costs rise.
- Recruiting the right stuff
Searching for brokers, commercial mortality, talking nonsense BP style and cordon bleu feasting in a pirate camp.
- Farstad returns to STX OSV
Karl Johan Bakken-led offshore owner to pay over $200m for two more AHTS ships.
| - Ocean news||web site|
|MARCH 30, 2012|
- Maersk announces booking stop to Europe
- U.S. finds China subsidizes solar panel exports
- Pirate ransom ban could endanger crews
- Hanjin plans 2 new TP services
- U.S. politicians weigh in on port labor situation
- Bank of America launches supply chain portal
- Official U.S. ballast rule to be released Monday
- COSCO/Hanjin start new Asia-US Gulf service
- EU hammers forwarders in fixing case
- LeanLogistics software promotes 'green' actions
|MARCH 30, 2012|
- Bunker prices fall as week ends
Trading was quiet on the US Gulf, local players told Bunkerworld.
- Dan-Bunkering to expand into the Americas
New Houston office will be led by Hans Lind Dollerup.
- Risler Bunkering closed for holiday
Employees will be contactable on their mobile phones.
- Prices falling across the board
Average demand in Hamburg.
- CEPSA reshuffles management, traders
A number of changes in management at CEPSA Marine Fuels as part of global restructuring.
- Prices falling in Fujairah
Good demand and avails reported in Middle East hub.
- Oil terminal will make Cyprus an 'energy trading hub'
Work on Vassiliko terminal to begin 'almost immediately'.
- Bunker suppliers seeing 'critical vendor' status challenged
Lawyers panel warns that US bankruptcy courts no longer giving priority to bunker debts.
- More bunker grades could trigger insurance claims
Association of marine insurers 'paying close attention' to impact on engines.
- NYK Line receives certification for latest revision of SEEMP
SEEMP certification in compliance with latest IMO guidelines adopted by MEPC 63.
- Bunker prices falling in key Asia markets
Good supplies of marine fuel at major Asian ports sufficient on Friday.
- Gas shipping firm orders environmental friendly LPG newbuilds
Vessels to include LNG/LPG bunker fuel tanks, scrubber and ballast water treatment systems.
- Sulphur regulation to change 'character' of bunker industry
LNG 'answer' to meet challenges faced by ship operators, says GL-Futureship Vice President.
- Tanker firm orders vessel efficiency management software
NAPA-DSME Power software able to save up to 5% of a tanker's fuel costs, says maritime software firm.
- 'Significant' increase in bunker costs puts pressure on China Cosco
The Hong Kong-listed firm swings to loss in 2011 as bunker costs increase by 34.9%.
- Indian shipping companies 'planning' to increase freight rates
Due to increase in fuel costs and reduced revenues, says India's Union Minister of Shipping.
- Oil recovery system to be marketed in China
Chinese market 'now mature' to undertake the maritime passive safety technology, says Chinese firm.