|AUGUST 3, 2012|
- MSC to up Asia-US west/east coasts rates, rail links from September
- OOIL profit down, but box unit revenues increase 5pc to US$2.8 billion
- Hanjin slashes loss as quarterly revenues rise 18pc to US$2.4 billion
- CEVA quarterly pre-tax profit falls 13.6pc, but revenue increases 5.5pc
- DP World first half volumes up 7.5pc to 28 million TEU, but pace slackens
- UK's Graig Group places order for three 2,000-TEU box ships from Jinhai
- Antwerp, Marseilles overall cargo off in first half, but boxes hold steady
- Guangdong will devise new plan for Pearl River Delta port development
- China boosts railway spending to help reverse slowing economic growth
- Kuehne + Nagel to provide global ocean freight management for Metro Group
- Geodis profit up 6pc despite lower volume, Euro-crisis pricing pressure
- Hactl welcomes air cadet fact-finding tour at Hong Kong airport
- Cargolux hunts for CEO as Regimen resignation rekindles rumours of clash
- JD Neuhaus supplies centralised pneumatic handling system for four hoists
|AUGUST 2, 2012|
- FFFAI delegation meets WCO chief
- Kale's CAPELLA CFS/ICD management system now available on Microsoft Windows Azure
- Maersk Line vessels benefiting from KPIs
- Shreyas Shipping inducts OEL KOCHI for coastal trade
- ICTT Vallarpadam registers record monthly throughput
- Shipping Minister reviews capacity augmentation projects at three west coast Major Ports
- India pips China in export growth rate: WTO
- June exports drop 5.45 pc to $ 25.06 bn
- Dinesh Gupta elected President, Anil Jain Vice-President of Gandhidham Chamber
- Rain gods, please save our economy
|AUGUST 2, 2012|
- Crowley Liner Services issues statement on plea agreement
- NNS school is "Apprenticeship Innovator and...
- Bisso Towboat takes deliver of ASD tractor tug newbuild
- Smit Lamnalco orders RAstar ASD tugs
- Obama nominates Art Sulzer for Seaway advisory board
- First of new series of Platform Supply Vessels for Brazil
|AUGUST 2, 2012|
- Hanjin Shipping to restart calls to Port of Portland container terminal
- Port of Los Angeles reports emissions programs working
- Parsons Brinckerhoff taps Snyder as senior supervising engineer
- Inchcape Shipping Services eyes possible strike in Argentina
- General Dynamics completes deal for Earl Industries' ship repair division
|AUGUST 2, 2012|
- HSBC sells its shipping services division
Bank says its still committed to shipping
- US sanctions: who stands to lose out on Iran trade?
New measures from Washington could bring more than just oil trades with Iran to a halt
- BP tanker fixtures rise 15% this year
Indian refinery helps to boost tanker charters
- Pyxis confirms tanker order
Deal for single MR2 vessel was struck months ago but surfaces now
- Cheniere achieves final investment decision
Cheniere inches towards final approval for planned Sabine Pass liquefaction trains
- Offshore vessel opportunities as the Chinese buy into the North Sea
New interest in region will boost activity for offshore support vessels
- Global boxship fleet still growing
With 5,062 vessels active on liner trades, data reveals the top 20 carriers control 85% of the 16.2m teu total
- Seaspan foregoes $267m undrawn loan
Decision reflects strategic expediency, say top executives
- Seaspan narrows its second-quarter loss to $6.7m
Independent charter owner boosts normalised earnings in second quarter
- Spot market activity slumps for 15-year-old VLCCs
Older tankers' share of fixtures falls from 23% in 2009 to 12% so far this year
- Scorpio says benchmark product tanker routes do not show real story
New triangulation trade patterns mean product tankers earn more than investors and analysts think
- German banks finance KG vessel sales
Hamburg financing company AHS buys Clou Ocean at discount price
- Sami forces all members to apply for accreditation
Only 10% have passed through stage one of programme
- Sanko Mineral poised to sail free from Baltimore after three-month stay
Liquimar, Knightsbridge, WBC and cargo interests agree to drop proceedings
- Atlantic supramax cargoes postponed after strike in Argentina
Spot market rates remain stable, though
- BHP Billiton could downsize expansion of Port Hedland
Weak iron ore market is leading miner to reconsider capital expenditure
- Lower charter rates clip Diana Shipping's earnings
Cash-rich owner takes steep rate cut on two new panamax charters
- MarAd rejects APT Title XI application
Blackstone arm assessing possibilities of asking for another review
- Uni-Tankers claims smaller tanker markets is looking buoyant
Danish tanker owner on the acquisition trail
- Better sentencing
It is time for a uniform approach to sentencing pirates
- Crowley Liner Services agrees $17m criminal fine in Puerto Rico price-fixing case
Total fines collected by Washington increase to $46m
- OOCL buys equipment for Long Beach
Cranes worth $346.6m contracted for leased terminals in California
- Pirates free seven Albedo crew for $1.2m pay-out
Confusion surrounds the fate of 14 seafarers said to remain captive in Somalia
- Pacific Basin eyes joint venture to execute ro-ro exit
Berglund seeks quick get-away from loss-making unit
- Tung warns of weak peak as rate recovery slows
Idle ship numbers down despite uncertain prospects
- Scrap and build is the way forward
In a vastly overtonnaged market, systemised scrapping is the way forward
- Feeling peaky?
Sluggish global economy dims prospects for high-season box demand
- RBS nationalisation would harm ship finance, say experts
Financiers debate whether Commerzbank ship finance exit sets a precedent
- SinOceanic board worried about GCL connection
Common shareholder could pose asset arrest problems for boxship tonnage provider
|AUGUST 2, 2012|
- MARAD denies APT bid
MARAD administrator David Matsuda has rejected APT's application for Title XI loan guarantees, shortly after APT took the US government to court
- Delhi to back insurance for Iran's tankers
INDIAN maritime insurers will offer government-backed insurance to Iranian tankers to help resume oil trade with Tehran despite international sanctions, IHS World Markets Energy reported today
- Rate fall weighs on Diana
SIMEON Palios-led Diana Shipping today reported falling profits and more charters rolling over to lower rates, counterbalanced by a growing cash position
- Profits drop 13% at COSCO's yard unit
COSCO Corp (Singapore) said net profits fell by 13.3% to S$27.6M ($22M) in the second quarter ended 30 June
- NY&NJ joins ship fuel incentive push
VESSELS that cut air emissions will receive financial incentives from the Port Authority of New York & New Jersey
- Rosneft swings to losses
RUSSIA'S government-owned oil giant Rosneft said it had swung to net losses of 8Bn rubles ($247.8M) in Q2
- Genco scores debt relief
NYSE-listed Genco has obtained a crucial agreement from lenders to push back amortisation payments and extend covenant waivers
- OOCL profits drop by 70%
HONG Kong-listed Orient Overseas International Ltd today posted $43M in profits for its box subsidiary OOCL, a 70% drop from the same period last year
- Seaspan beats Street
GERRY Wang-led Seaspan has reported higher adjusted profits and the finalisation of a Chinese loan to support its newbuilding programme
- Knight chaos rattles market
ELECTRONIC trader Knight Capital, which has significant ties to shipping, was hit yesterday by a severe technical glitch that might have affected NYSE-listed NAT and has now forced Knight to "actively pursue" alternatives
- Trans-Pacific box rise starts
THE 3% week-on-week increase in Hong Kong/Los Angeles box rates suggests that liners' proposed rise of $500 per feu has had only limited success, a report said today
- Strikers disrupt Bahia Blanca in Argentina
A STRIKE continued today at Bahia Blanca's port in Argentina, ISS said
- Hanjin slashes losses
HANJIN Shipping posted 1.2Bn won ($1.06M) in losses for 2Q12, down from 274Bn won in losses in the same period a year ago and 338.4Bn won in losses in 1Q12
- VLCC period fixtures rise
BROKERS are reporting greater interest in VLCC period booking, with the spot market plunging deeper into negative territory
- Chinese Goliaths get cosy
ANSWERING Beijing's call to co-operate in tough times, China State Shipbuilding Corp and China State Construction Engineering Corp have agreed to work closer
|AUGUST 2, 2012|
- Horizon Lines Posts Second Quarter Net Loss
Horizon Lines reported a $29.8 million net loss for the second quarter but the U.S. domestic ocean carrier's operating results...
- Matson Sees Rise in Operating Income for Quarter
Matson Inc. said its second quarter operating income rose while net income was hurt by charges from discontinued operations and...
- US Intermodal Volume Hit Record in July
U.S. intermodal traffic on the major railroads in July rose 5.6 percent year-over-year, hitting a record high for the month,...
- UASC's Vitarana Discusses Trade Outlook Between US, India, Middle East (Video)
In an interview on the bridge of the UASC container ship Al Sabahia, which was loading and unloading containers at...
- Genesee & Wyoming Profit Jumps Despite Volume Drop
Genesee & Wyoming profit jumped 17 percent year-over-year to $36.4 million, as higher fuel surcharges and improved operations helped the...
- LA Port's Pollution-Reduction Strategy Pays Off
Harmful emissions from port operations in Los Angeles have declined as much as 76 percent over the past seven years...
- Crowley Pleads Guilty to Puerto Rico Price-Fixing
Crowley Liner Services pleaded guilty and was sentenced to pay a $17 million criminal fine for conspiring with other carriers...
- Maersk Line Ltd. Acquires US Ship Operator
Maersk Line Ltd. acquired 3PSC, a privately held ship operator based in Cape Canaveral, Fla. Terms of the acquisition...
- Shippers, Railroads Pitch Dispute-Resolution Ideas
Major North American railroads and shippers say they support more federally sponsored arbitration, but the carriers can't get onboard with...
- OCU-Management Talks Continue on West Coast
In a welcome sign of cooperation, office clerical workers and waterfront employers in Southern California met through the day on...
- US Opposition to EU Airline Carbon Tax Builds
U.S. pressure to reject the European Union's carbon tax on international airlines is mounting, with committees in both chambers of...
- Global Air Cargo Grows on Middle East Strength
International air cargo traffic increased 1.1 percent in June from a year ago, driven by strong growth in the Middle...
- ODFL Profit Rises 21.5 Percent to $48 Million
The slowing economy wasn't a drag on Old Dominion Freight Line in the second quarter. Revenue jumped 12.8...
- Japan Airlines Net Profit Soars Despite Weak Cargo Numbers
Japan Airlines said on Thursday that its net profit soared 111.2 percent in the first quarter of fiscal 2012, which...
- Spot Rates Rebound in Asia-Europe Container Trade
Spot rates in the Asia-Europe trade rebounded this week after three consecutive weeks of decline as carrier efforts to reduce...
- CEVA Reports Lower Profit
CEVA Logistics said its adjusted earnings before interest, taxes, depreciation and amortization fell 13.6 percent to 70 million euros ($85...
- Auto Emissions Parts Trade Revs Up
The global trade in auto parts is getting a fuel injection as a result of the growing market for exhaust...
- Seaspan Reports Improved Results
Container ship owner-charterer Seaspan Corp. said its net loss narrowed and adjusted net earnings rose amid nearly full vessel utilization...
- Tropical Shipping Posts Loss
Caribbean carrier Tropical Shipping posted a $4 million operating loss on $80 million in revenue despite an increase in container...
- Court Dismisses ABF Lawsuit Against Teamsters, YRC
A federal judge dismissed a lawsuit that challenged three rounds of labor concessions at YRC Worldwide by claiming the Teamsters...
- Sept. 1 MSC Rate Hike Is Second in a Month
Mediterranean Shipping Co. said Thursday that the general rate increase it plans to implement on eastbound trans-Pacific cargo from...
- Deutsche Post DHL Lifts Earnings Forecast
Deutsche Post DHL lifted its 2012 earnings guidance after strong demand for its express delivery services in Asia boosted its...
- First Half Profit Fell 26 Percent at OOCL Parent
Orient Overseas Container Line's parent company reported a 26 percent drop in operating profit during the year's first half and...
- Lufthansa Cargo Profit Slumps 60 Percent
Lufthansa Cargo's operating profit slumped nearly 60 percent in the second quarter to 28 million euros ($34.4 million) from 69...
- Charter Revenue Doubles at Shipowner Box Ships
Greek container shipowner Box Ships Inc. more than doubled second quarter charter revenue to $15.44 million from $7.22 million a...
- ILA, USMX Committees to Meet
The International Longshoremen's Association and United States Maritime Alliance will hold meetings this month by ILA-USMX committees assigned specific issues...
- Hanjin to Resume Service to Portland
Convinced that labor productivity at the Port of Portland has returned to normal, Hanjin Shipping will resume making ship calls...
|AUGUST 2, 2012|
- Asciano invests to improve its Melbourne terminal
Asciano, which owns Patrick, one of Australia's largest terminal managers/stevedores, is in the midst of a major capital expansion and productivity enhance programme ...
- Hanjin posts stronger results for H1 as box volumes jump
Hanjin has seen its container division results pick up for both the second quarter and for the first half of this year on the back of a rate recovery and higher ...
- Operating profit slides at CEVA
A combination of the harsher economic climate and declining levels of consumer confidence, especially in Europe, contributed to a sharp fall in profits at the supply ...
- ICS wants IMO to adjust BWM mandate
The International Chamber of Shipping is putting pressure on the International Maritime Organization (IMO) to be more flexible in implementing its 2004 Ballast ...
- DHL doubles up its Shanghai-Dubai LCL link
DHL Global Forwarding (DHL GF) has started a second weekly LCL service between Shanghai and Dubai while also extending its coverage to Kuwait and Qatar. The move ...
- Transpac GRI 'fails' to take effect
- OOCL still steaming in the black
OOCL, the container arm of Hong Kong-listed Orient Overseas [International] Ltd [OOIL], continued to outperform most of its rivals in the first six months of the ...
- APM T signs Lazaro Cardenas concession agreement
Competition is set to increase in Mexico's west coast port of Lazaro Cardenas with APM Terminals (APM T) now confirmed as the new operator of container-handling ...
- Bigger boxships assist growth at DPW
Larger ships now being deployed on a number of trade lanes contributed to the 7.5% growth in containers handled by DP World in the first ...
|AUGUST 2, 2012|
- FBR eyes shipping exit
- MLL goes oceanographic
- Crowley pleads guilty
- HSBC hives off shipbroking
The HSBC banking group is to sell HSBC Shipping Services to a management buy out team.
- Deutsche downs DryShips
- Knight falls on its sword
- PB 'In the zone'
New Pacific Basin boss Mats Berglund says the shipowner is now in the zone when it comes to expanding its bulker fleet.
- Smit Lamnalco pens four
Smit Lamnalco has ordered four new tugs to cover its recently signed contract with the ExxonMobil-led Papua New Guinea LNG project.
- Diana two tied up
Ultrabulk takes a pair of Diana panamaxes for two years at lower rates for the NYSE-quoted owner.
- Diana profit dented
Falling dry-cargo rates have taken their toll on the second quarter profit of Diana Shipping.
- Semb Marine steady in Q2
Sembcorp Marine reported steady profit for the second quarter despite sales jumping by nearly half.
- BHP cans rumour
BHP Billiton has poured cold water on claims it is scaling back its expansion plans at the key iron ore port of Port Hedland.
- MMHE still down
Malaysia Marine & Heavy Engineering (MMHE) has once again seen a big drop in earnings despite its marine division posting stellar results.
- Hornbeck misses mark
A vastly improved showing from its offshore fleet could not pull Hornbeck up to Wall Street's expectations in the second quarter.
- Seaspan funds trio
Seaspan Corp has tapped a Chinese bank to help it pay for three giant newbuildings on order at Yangzijiang Shipbuilding.
- Boskalis enters India
Royal Boskalis Westminster has scooped a major dredging contract for India's largest container port.
- MarAd rejects tanker loan
A simmering battle over American Petroleum Tankers (APT) bid for a US government $340m loan guarantee is set to flare up after the application was rejected.
- Seaspan short in Q2
Seaspan has seen its second quarter numbers come up short of expectations.
- STX in FSO score
STX Offshore & Shipbuilding is in line for an FSO order from a North American client, local media reports.
- Hanjin slashes losses
South Korea's Hanjin Shipping has narrowly missed on a return to profit in the second quarter of 2012.
- Ezion builds LNG backlog
Ezion Holdings continues to build on its success in Australia with a fourth contract from the local LNG industry since 2009.
- Costs dog OOCL interims
OOCL parent company OOIL has seen interim profits slide by one third as it faced higher costs during the last six months.
- Box Ships revenues jump
Box Ships, the Michael Bodouroglou-led containership owner, has seen revenues more than double compared to a year ago.
- Genco stays in the red
Genco Shipping & Trading has booked a second quarter loss, but said its lenders agreed to relax some provisions under its credit facilities.
|AUGUST 2, 2012|
- ILA, USMX to resume contract talks Aug. 22-24
James McNamara, the ILA's spokesman, said the union remains optimistic about reaching an agreement following last month's agreement between the union and management on issues involving automation and chassis.
- Port of NY/NJ to reward 'clean ship' operators
The port authority anticipates about 600 vessels a year will participate in the CVI program, and it will yield annual emission reductions of 182.2 tons of nitrogen oxide, 38.3 tons of particulate matter, and 264.1 tons of sulfur dioxides.
- MarAd denies Title XI guarantee to APT
- Drewry cautions TP rate hikes won't stick
- OOIL 1H profit recedes
Orient Overseas (International) Ltd., the Hong Kong-based parent of liner carrier OOCL, said Thursday its operating profit fell 25.5 percent year-on-year in the first half of 2012 to $140 million.
- Mojix adds RFID to automotive supply chains
- Xata sees software gains, revenue holds still
- Hanjin reduces losses in 1H
- German lines slow joint Mideast loop
- Ryder buys small U.K. truck leasing outfit
- Senators urge ILWU clerks, employers to reach deal
- Wozniak appointed Columbus McKinnon VP
- CORRECTION: Nordana's U.S. East Coast-West Africa service continues
- USDA helps release ag shipments overseas
- Ex-Im Bank expands in Minneapolis
Since fiscal year 2007 through July 26, 2012, the bank has authorized about $710 million to Minnesota businesses to support $1.4 billion in export sales.
- U.S. industry welcomes 'Cairo Declaration'
- ITC: Dominican apparel not benefiting from U.S. trade program
|AUGUST 2, 2012|
- Market firm in Fujairah
Prices move up single digits in the Middle Eastern bunker hub.
- Prices lack direction in major European ports
Bunker prices hesitate to demonstrate any clear direction.
- Mauritius supplier invests in extending pipeline network
New barge can 'bunker beyond port limit'.
- Maersk releases latest surcharge figures
Ten dollars added to most routes.
- Fuel oil stocks climb
But shortage of on-spec product remains.
- Shipping consultancy sold to management
Sale to be complete in fourth quarter.
- Fuel oil arbitrage East Asia to climb by 46% month-on-month
But bunker avails expected to remain tight
- Environmentalists open attack on cruise industry
'Unfortunately, there are still some holdouts trying to weaken or delay the ECA.'
- 'Flexible' WFS tightens grip on credit
Company prepared to 'walk away from a lot of business'.
- Asian bunker prices at regional hubs buck Singapore trend
Supplies of marine fuels fine at key Asian ports on Thursday.
- US marine services firm in $50 million acquisition
Acquisition of Chemring Marine 'perfect fit' with Drew Marine's strategy, says CEO.
- South China monthly fuel oil imports fall in July
Imports down 36% but levels are expected to improve in August.
- Typhoon hits bunkering ops in Taiwan
Ports closed and cargo operations suspended due to severe weather conditions.
- FAL gets new manager as restructuring talks rumble on
Appointment made at a time when creditors are expected to reject the trader's restructuring proposal.
- Chimbusco branch meets first half sales target
Target met despite 'increasingly fierce domestic competition', it says.
- OOIL posts 33% decline in H1 profit
Positive operating margin at its box unit 'adversely impacted' by the 'unexpected' increase in bunker fuel, it says.