|JULY 31, 2012|
- Maersk: Key performance indicators saved firm US$90 million over 3 years
- Samudera Shipping second quarter profit soars 300pc to US$7.5 million
- Brazilian health inspector strike keeps ships at anchor awaiting berths
- Nigeria fires national port chief, names three new executive directors
- GAC warns approaching ships of Angola's sudden ballast water decree
- Japan export growth continues, but imports fall for first time in 6 months
- Chongqing to build European trade cargo distribution centre in 2012
- APM T re-bids to allay talk of favouritism for Virginia Ports CT job
- Panda Group awarded the TAPA freight security requirements certification
- 4 conro ships to replace older, smaller vessels serving low-tech ports
- BIFA: 100pc scanning of US-bound boxes will cause logistical gridlock
- FedEx to drop small gas guzzlers for fewer but larger, less costly planes
- Air freight hits 3-year low, passenger demand adds needless capacity
- Logwin moves to sort out confusion over EU air cargo security rules
|JULY 30, 2012|
- East African piracy slows, but West African pirates taking up slack: IMB
- MOL commences CMS (China-Middle East) service calling Mundra
- 'For India, Antwerp port is the fastest route to Europe'
- Govt expects rain deficit to take a toll on kharif crops
- Govt may impose ban on some agri futures: Thomas
- INR surrenders early gains on fresh dollar demand
- PMO announces roadmap for executing key infra projects
- PSBs directed to provide services for shipments via Iran
|JULY 30, 2012|
- Quebec orders dual fuel ferry at Fincantieri
- Maine ferries get $2.4 million in grants
- Eagle Ocean reports a flying start
- Shell launches new cylinder oil
- COSCO, Rongsheng Heavy issue profit warnings
- Propeller driven catamaran promises fuel savings
|JULY 30, 2012|
- Carrix taps Knud Stubkjær as new chief executive officer
- Matson creates foundation to oversee corporate giving
- Mitsui honored for assisting victims of earthquake, tsunami
- CIT Group places orders for 3,000 new tank railcars
- Evergreen warns customers of bogus company in China
|JULY 30, 2012|
- Eastern Mediterranean clinches boxship order with Wenchong
Thanassis Martinos-led company continues march into containers with more feeders
- Shipping faces a long, cold winter
Forget the chatter about cash-rich Greeks' heavyweight investments. Indicators seem to be signalling a much longer recession
- Ecdis training is becoming a costly headache
Shipmanagers face huge costs and disruption as deadline looms
- Ship Finance and Knightsbridge lodge claim against Jianlong Group
Zhang failed to meet guarantee on time-charter performance, case claims
- Chartering slows for VLGCs as players wait for new gas prices
Market able to absorb slowdown due to previous high levels of activity
- NYK launches largest vessel to use air lubrication system
Japanese development points to increased faith in fuel-saving friction-reduction system
- NewLead lines up new shares-for-debt swap
Lemissoler Maritime poised to take 36% of Nasdaq-listed owner as marathon restructuring efforts nears end
- Iran sanctions hit cargo availability at Sidi Kerir
Exclusive: First half of 2012 sees fall in Iranian crude transiting the Suez-Mediterranean pipeline
- Varying jail terms for pirates raise questions about fairness
Sentences range from four to 60 years depending on where the trial is held
- New pipeline will boost product tankers trading out of US Gulf
TransCanada says construction will start within weeks
- Polaris orders capesize
Vessel chartered out on 15-year contract
- Guangzhou sees double-digit growth in cargo throughput and box volumes
Port outgrows other giants in South China
- Aframax sale indicates 15% drop in tonnage value
Tanker Pacific buys nine-year-old ship for just $15m
- Flaminia waits to enter UK waters
Authorities will decide in next few days whether to allow damaged boxship into secure area
- ICS seeks staggered approach to ballast water retrofitting
Shipowners fear installation bottleneck if IMO schedule stands
- Odfjell Rotterdam terminal still closed after forced shutdown
Criticised environment ministry forced closure as it raises safety standards in Netherlands
- CO2 curbs will not damage shipping, argues Brookings Institution
Study suggests that the industry faces only limited additional costs
- Temple Lang urges Brussels to make a special case for shipping
Sector-specific guidelines should be kept, says former head of EU competition directorate
- Höegh's vintage LNG carrier starts trading from Australia
Older ships pull in additional earnings as owners await newbuildings
- Scandlines sells two freight routes to Swedish Orient Lines
SOL will also take over three ferries as Scandlines focuses on passenger-based routes
- Mercator Lines sees net profit down 91% in April-June
Singapore-listed bulker unit holds pessimistic market outlook
- NITC defies EU sanctions by deploying more tankers in the Mediterranean
VLCC heads to Turkey amid speculation that SuMed is running down Iran oil storage
- Rongsheng issues profit warning as chairman's firm probed for insider trading
Updated: China's largest private yard suffers double blow as stock price falls to all-time low
- Scorpio loses $20m on sale of MR tanker pair
Ships sold little more than a year after purchase
- Iranian sanctions are breaking European stranglehold on insurance, says IRISL
There will be no difference between the quality of Iranian and Western cover
- Special case
Shipping requires clearer guidelines from the EU
- Moore Stephens warns on SEC disclosure requirements
Regulators may require owners to declare when market value falls below carrying value
- Rongsheng's trials
The privately owned yard takes a beating
- Jinzhou Port reports 49% drop in first-half net profit
Reliance on coal exposes the port to volatile markets
|JULY 30, 2012|
- Stubkjaer takes Carrix helm
CARRIX, the parent of global port developer SSA Marine, today announced the appointment of Knud Stubkjaer as its new chief executive officer, replacing Jon Hemingway
- High court OKs ex-Exxon Valdez's breaking
ORIENTAL Nicety, once the infamous Exxon Valdez, finally received clearance for demolition today from India's Supreme Court, Fairplay was told
- Yard resales dominate
YARD RESALES are dominating bulker resales amid the quiet S&P market in the summer
- ICS urges staggered installations of ballast systems
BALLAST water treatment system installations on existing ships should be staggered to avoid chaos when the 2004 Convention is finally ratified, the ICS has advised the IMO
- Contraband seized in port box in Guatemala
GUATEMALAN authorities have seized 18.8 tonnes of precursors used in the production of synthetic drugs, which was smuggled from China in containers, IHS Global Insight reported today
- Iran raises P&I ante
NIOC SAID it is prepared to provide insurance coverage for Iranian and foreign tankers transporting Iranian crude amid sanctions against Tehran, IHS World Markets Energy reported today
- Accountant cites SEC pressure
MOORE Stephens warned today that the SEC will increasingly pressure US-listed shipping companies to disclose the market value of their fleets
- LNG spot rates drift lower
SPOT RATES for LNG carriers are still edging lower, shipping analyst and broker sources said
- Strikers stymie Colombian coal
TWO STRIKES are curtailing Colombia's coal exports, with no short-term solutions in sight
- NewLead swaps more debt for equity
NASDAQ-listed NewLead Holdings today announced an agreement that would cut its debt load by another $81.M in return for shares
- SOL builds Baltic presence
SWEDISH Orient Line said today it is stepping up its liner business by acquiring a Germany/Finland ro-ro route and ships from Danish-German operator Scandlines
- Sasebo whacked in 1Q
JAPANESE builder Sasebo HI said today it posted ¥416M ($5.3M) in losses for the first quarter of fiscal year 2012, reversing ¥1.85Bn in profits in the same period last year
- Profits for Singapore Mercator unit plunge by 90%
MERCATOR Lines (Singapore), a unit of India's Mercator Ltd, has reported a 90% fall in first-quarter profits to $0.4M
- Iran accuses neighbouring nations on piracy
THE IRANIAN navy's anti-piracy commander has reportedly accused rival Gulf nations of supporting pirates
- Methanol prices holding despite explosion
THE OUTAGE at the Petronas methanol silo in Labuan, Malaysia, is so far failing to affect demand and supply, IHS CMAI reported
|JULY 30, 2012|
- Profit Leaps 250 Percent at Trucking Firm Saia
Heavier freight, higher rates and a redesigned network helped regional carrier Saia send profit skyrocketing in the second quarter, despite...
- Diesel Prices Rise for Fourth Straight Week
Diesel prices in the U.S. rose for the fourth straight week, climbing 1.3 cents in the week ending July 30...
- Customs Update: How to Avoid Agents of Misfortune
One of the hallmarks of an importer's relationship with Customs and Border Protection is reasonable care. In its simplest terms,...
- IANA Finds Fault With CSA Methodology
Intermodal operators want federal regulators to do a better job identifying who is responsible for safety violations - motor carriers...
- Former Maersk Chief to Lead Carrix
Knud Stubkjaer, a former senior executive with Maersk Line and German shipowner E.R. Schiffahrt, has been named CEO of Carrix,...
- Japan to Extend Punitive Tariffs Against US
Japan has decided to extend, for another year, punitive tariffs on tapered roller bearings imported from the U.S. in retaliation...
- Cargolux CEO Steps Down for Government Job
Frank Reimen, Cargolux Airlines International president and CEO, has stepped down following his appointment to a Luxembourg government post, the...
- Air France-KLM Cargo Loss Widens
Air France-KLM's cargo unit posted an operating loss of 62 million euros ($76.3 million) in the second quarter compared with...
- Shipowners Ask IMO to Tweak Ballast Water Rules
The International Chamber of Shipping asked the International Maritime Organization to revise ballast water regulations that would require retrofitting of...
- TNT Express Boosts Earnings on Cost Cuts
TNT Express, the Dutch package delivery company being acquired by UPS, boosted second quarter operating profit by 67 percent to...
- Damaged MSC Flaminia Inspected at Sea
The damaged container ship MSC Flaminia and its accompanying tugs were halted about 100 nautical miles off the British coast...
- Asian Airlines' International Cargo Down Year-Over-Year
International air freight carried by Asian airlines increased in June compared to a month earlier, according to the Association of...
- Clock Ticks on ILA Talks
They're not there yet, but the International Longshoremen's Association and United States Maritime Alliance are reporting progress on a new...
- Commentary: Gridlock on the Beltway
Q: I own a small motor carrier, and we're doing very well, thanks. But we're doing well because we quit...
- Duane Reade Puts More Electric Trucks on NYC Streets
Drug store chain Duane Reade lists the eco-friendly products it sells, from face wipes to glass cleaner to bamboo cutting...
- YRC Sees Progress On Long Road Back
A year ago, plenty of people were willing to bet James Welch wouldn't be where he is today: in the...
- The New Dust Bowl Threatens Exports in US
With freight rates in the westbound trans-Pacific already under pressure, the great drought of 2012 comes at the worst possible...
- Jacksonville Builds Its Case As Southeast Hub
It's taken three years, but the opening of MOL's TraPac international container terminal is turning the Port of Jacksonville into...
- Dredging Projects Fast-Tracked in the East
From his office window in the New York Container Terminal, Jim Devine can see the rigs blasting rock at the...
- IRTA Names Paul Kramer Executive of the Year
The International Refrigerated Transportation Association named Paul Kramer, director of logistics at Sheboygan, Wis.-based Johnsonville Sausage, as the recipient of...
- Lineage Logistics Expands Warehousing
Bay Grove Capital is showing no signs of slowing its investment in the cold storage industry, purchasing Castle & Cooke...
- Railex Adds Wine Storage, Logistics
Refrigerated rail operator Railex will spend up to $20 million to build a 500,000-square-foot bonded wine storage and distribution center...
- Groups Criticize Obama Over Food Safety Delays
Food importers won a reprieve from setting up verification programs for foreign suppliers, a delay that has angered consumer and...
- Jurisdiction Battle Unplugs Portland
How many longshoremen does it take to plug in a refrigerator? As a takeoff on an old lightbulb joke,...
- Cloud Computing, Reusable Tags Lower RFID Costs
RFID and the promise of real-time monitoring of perishable cargoes have existed for more than a decade. But although an...
- Agriculture Shippers Finding Room to Go
Despite grim forecasts earlier in the year, food shippers haven't faced equipment or space shortages in any mode. ...
- US Beef Producers' Mixed Grill
The U.S. cattle herd, reflecting six straight years of Americans' declining beef consumption, hasn't been this small since 1952, three...
- Cold Train Expands Intermodal Fleet and Service
The fledgling refrigerated domestic intermodal sector is growing this summer as industry pioneer Rail Logistics Cold Train adds 200 53-foot...
- Short Line Investor Reacts to High Altitude Demand
Colorado's San Luis Valley is a favorite destination among railroad fans. With an average altitude of 7,664 feet above sea...
- On the Hill: Maritime Support Missed in Translation
The maritime industry is no longer the oft-ignored stepchild in Washington, but increased pats on the head from Congress and...
- Commentary: Soup to Nuts in the PNW
If you think getting the toothpaste back in the tube is a problem, imagine trying to untangle and sort out...
- Labor Issues Heating Up in the West, Too
While the International Longshoremen's Association and United States Maritime Alliance churn the wake on the East and Gulf coasts, all...
- Daggett Expands ILA'S Tent
International Longshoremen's Association President Harold Daggett announced plans for the union's affiliation with a global dockworkers' organization that previous ILA...
|JULY 30, 2012|
- CAI to acquire Dritte Fund's box assets
San Francisco-headquartered CAI International is to acquire the container assets owned by Dritte Schroeder Container Beteiligungsgesellschaft mbH & Co. ...
- Santos Brasil steams ahead in Q2 12
The container terminal operating and freight logistics company Santos Brasil (SB) has posted a very strong result for Q2 12, with revenue, operating income and ...
- Euro: 'no time to lose'
That is the view of Eurogroup head, Jean-Claude Juncker who gave several press interviews at the weekend after days of turmoil on the markets spooked by heightened ...
- HHLA lowers its earnings outlook again
HHLA, which is the largest terminal operating company in the port of Hamburg, has adjusted its earnings outlook for 2012 lower for the second time this year. The ...
- China COSCO issues profit warning
China COSCO - the company which owns Shanghai headquartered COSCON - has issued a profit warning and said that the group is expected to see its net profit for the ...
- London Olympics: GE sponsorship pays dividends
The undeclared cost of being a main sponsor for the 2012 London Olympics seems to have paid off for US conglomerate General Electric [GE] who today advised that ...
- FMC study: amend 'competitive disadvantage' of US HMT
The Federal Maritime Commission's (FMC) report into whether ports in Canada and Mexico are taking cargo away from US terminals is firm in its conclusion: 'The Commission ...
- Etihad Rail moves ahead with stage two of its development programme
Abu Dhabi-based Etihad Rail, which is developing the UAE's national rail network, has offered its first tender invitations to pre-qualified companies interested ...
- MSC Flaminia: salvors assess stability
|JULY 30, 2012|
- Evercore cuts VLCCF
- Carrix crowns new chief
- Beijing LNG drive 'inevitable'
- STQ pens ferry at Fincantieri
- NewLead strikes debt deal
- Hong Xiang charter default
The expanding Hong Xiang Shipping group has hit choppy waters and defaulted on charter deals with at least two John Fredriksen linked companies.
- Chu Kong in Macau run
Chu Kong Shipping has agreed to manage a high speed ferry service between Hong Kong and Macau.
- Courage sends scare
Courage Marine is the latest shipowner to brace investors for bleak earnings news.
- Vantage still red
Vantage Drilling has managed to curb its losses in the second quarter but still ended the period in the red.
- Sentenced to scrapping
Environmental campaigners have suffered a defeat in a legal battle over moves to scrap a ship at the centre of one of the best known oil spills in India.
- Atlantska falls
Atlantska Plovidba has reported a huge slump in first half earnings as rates dived.
- Grounding not a screw up
Owners of all ships built by the Tsuneishi Zhoushan shipyard in China have been warned to check a vital link in steering equipment following a mechanical failure that led to the grounding of a five month old vessel.
- Rongsheng hits bottom
China Rongsheng Heavy Industries has seen its share price hit by a double dose of bad news.
- Mingde in LNG tie-up
Nantong Mingde Heavy Industries has teamed-up with Cambridge Energy Group in a bid to break into the LNG shipbuilding sector.
- Rongsheng warns investors
China Rongsheng Heavy Industries has warned shareholders that it expects to report a weak performance for the first half of 2012.
|JULY 30, 2012|
- CBP's trade symposium set for late September
CBP will hold its annual Trade Symposium for an East Coast audience Sept. 27-28 in Washington. More details to follow on the agency's Website.
- Canadian chamber backs FMC port study findings
"This is a great victory for Canadian ports and carriers. The study's findings debunk claims of unfair practices by Canada," said Perrin Beatty, president and chief executive officer of the Canadian Chamber of Commerce.
- U.S. supports Brazil's Bahia airport upgrade
- U.S. sets duties for Chinese turbine tower imports
- FMC reviews 19 OTI license applications
- NIT League applauds captive shipper decisions
- Commentary: Daily-deal sites' logistics potential
- Carriers struggling to enforce Asia-SA rate hikes
"In total the carriers have announced increases adding up to more than $4,000/TEU. This illustrates that despite the actually achieved increase, it has not been straightforward to obtain," SeaIntel said. Profit struggle continues.
- Infosys improves IT infrastructure reliability
- COSCO warns of steep losses
The Chinese carrier indicated poor freight rates in the bulk market, as well as high fuel prices, are to blame. It lost more than $1 billion on its liner operations, and more than $1.6 billion at the group level, in 2011.
- Busan port names new president
- Echo purchases another truckload broker
- Davis heads UPS Store
- Shipco opens Xiamen office
- Southwest picks Milwaukee partner
|JULY 30, 2012|
- SK Energy opens Rotterdam office
Aims to become a physical supplier in Dutch hub 'in the very near future'.
- Mauritius has 'tremendous growth opportunity' for bunkering
Inchcape Shipping Services expands its operations in East Africa.
- Mixed price movements in Fujairah
Sharp falls in Suez.
- Week started with prices firming in Rotterdam
Bunker prices edge up across Europe with Hamburg the odd man out.
- Guidelines for ships in breach of ECA sulphur limits
US Coast Guard outlines procedures for ships unable to source ECA compliant fuel.
- Oil major launches 'smarter' lube oil
New product claims to improve engine wear by a fifth.
- NYK takes delivery of air-lubricated coal carrier
The Soyo is NYK's third vessel to be fitted with an air-lubrication system.
- Bunker prices largely up at Asian port hubs
Supplies of bunker fuel mostly fine in major Asian ports.
- Buckeye completes Chevron terminal acquisition
Terminal increases Buckeye's total liquid petroleum storage capacity by about 6%.
- Engine maker completes trials on 'largest' two-stroke unit
The new S90ME-C9.2 engine marks a 'generational change' in box shipping, says MAN Diesel.
- China Cosco issues profit warning
Losses to increase on back of low freight rates and high operating costs, including bunkers.
- Singapore-listed shipowner in profits' slide
Voyage expenses increased partly due to higher bunker cost for short term contracts.
- Minor slick from Petronas tanker fire
Slick 'being contained' by anti-pollution containment booms, says MISC.
- Brightoil has 'aggressive working capital need'
Repayment of convertible notes would put 'undue stress' on Brightoil's cashflow position, says financial adviser TC Capital Asia.