|JANUARY 30, 2013|
- Cosco faces de-listing risk after warning of 'significant' 2012 loss
- Suez Canal transits under threat as violent unrest in Egypt worsens
- Guangdong to spend US$11.5 billion on transport infrastructure this year
- 'K' Line upgrades intra-Asia, adds Thai, Philippines, Vietnam links
- Singaporean-Dutch trade in 2012 makes Netherlands No 3 EU trade partner
- Agility expands in Malaysian renewable energy with bonded warehouse
- Hapag-Lloyd to increase export reefer rate out of Mexico February 23
- Damco reshuffles top management, moves HQ from Copenhagen to The Hague
- ESC: Europe needs rail sector liberalisation ahead of EC policy package
- DHL expects stable growth in Africa's air freight sector in 2013
- OHL takes to Descartes cloud-based ASAC for US-bound high risk cargo
- IATA urges teamwork in European action plan to reduce runway accidents
|JANUARY 29, 2013|
- MOL gets go-ahead to install packaged container ballast water treatment system in cargo hold
- Rickmers-Linie successfully recertified as per latest ISO standards
- Cotton exports to increase on rising Chinese demand
- Wheat exports may touch 9.5 mt in current fiscal
- Antwerp Port Authority road show in India early next month
- New Mangalore Port attains MoS target for 2012-13
- CAG commences performance audit of highway projects
- ICD-Khodiyar organises tree plantation drive on Republic Day
- RBI cuts repo rate, CRR by 25 bps
|JANUARY 29, 2013|
- New Sydney freight line opens
The new 36 km long southern Sydney freight line has commenced operations. The AUD 1 billion (EUR 790 millios) track will speed up train movements through Sydney and improve the ove...
- BNSF to invest USD 4.1 billion in 2013
BNSF Railway Company (BNSF), one of North America's leading freight transportation companies, plans to invest around USD 4.1 billion this year, some USD 450 million more than in 20...
- North America's commercial vehicle market expanding
The new state of the industry report compiled by ACT Research Co (ACT) reveals that orders for medium duty commercial vehicles in the USA in Q4/2012 was the best since Q1/2008. The...
- CMA sells 49% of Terminal Link to China Merchants Holding
The French shipping company CMA CGM and China Merchants Holdings (International) Company Ltd (CMHI) have signed a share purchase agreement on the sale of a 49% equity interest in ...
- Würfel rejuvenates fleet
The German forwarder Würfel, a specialist for transport on outsize trailers and whose holding is in Bremerhaven, acquired 52 new Mercedes and MAN trucks over the past 18 months, th...
- AirAsia X extends ULD contract with Chep Aerospace Solutions
AirAsia X, the Malaysia-based long-haul low-cost airline affiliate of the AirAsia Group, and Chep Aerospace Solutions are extending their unit load device (ULD) outsourcing and man...
- Gulftainer to invest in Ust-Luga
Gulftainer, a privately owned port operator based in the United Arab Emirates, has signed an agreement to become a shareholder in the Russian port of Ust-Luga, which is located nea...
- VBC changing in Germany, Austria and Switzerland
Volvo Bus Corporation (VBC) is expanding Thomas Hartmann's area of responsibilities, with effect from 1 February. Hartmann, who already began to manage sales of Volvo buses in Germ...
- Ram Menen's retirement now definite
Ram Menen, one of the most distinguished personalities of the global air cargo business, is retiring from Emirates SkyCargo in June 2013. Menen took charge of the air cargo divisio...
- KLM transports masterpieces for "Amsterdam 2013"
KLM Royal Dutch Airlines and its cargo division have become the proud sponsor and official carrier of "Amsterdam 2013". 2013 is a very special year for...
- ADB Airfield Solutions upgrades Basra international airport
The Iraqi Civil Aviation Authority has selected Belgium-based ADB Airfield Solutions to modernize Basra international airport, the country's second busiest airport. The upgrade wil...
- Agility receives ISO 9001:2008 certification in Europe and Central Asia
Agility, a leading global logistics provider, recently acquired ISO 9001:2008 certification for its area east region, which includes Russia, Ukraine, Kazakhstan and Turkmenistan. T...
|JANUARY 29, 2013|
- Court accepts BP's Deepwater Horizon plea deal
- Vane Line wins $13.1 million TRANSCOM contract
- Mack Boring to distribute Steyr marine diesel engines
- LaHood to step down
- Mermaid Maritime wins subsea contracts worth $30 million
- Mat-Su Borough tries to give Susitna away
- Kings Point welcomes new Deputy Superintendent
- EU funds study of barriers to LNG fueling
- IHC Merwede introduces new OSV series
|JANUARY 29, 2013|
- General Dynamics NASSCO nets TOTE vessel conversion deal
- Derelict vessel sinks in Tacoma waterway
- New PDX Starbucks store offers look at Portland's past
- Transportation Secretary LaHood not returning for second term
- Inchcape Shipping Services gives update on Egyptian ports
|JANUARY 29, 2013|
- Philippines to test the law of the sea in South China Sea dispute
Can the Philippines take China to tribunal and win a long-running territorial spat?
- US dockers and employers return to bargaining table
February 6 contract expiry looms as federally mediated talks resume
- Nordic Insurance Plan gets provisional thumbs-up
Norway, Denmark, Sweden and Finland policy terms from are amalgamated
- Who will benefit from the new Nordic Insurance Plan?
Clauses improve clarity for owners, operators and insurers of mobile offshore units
- Appeal decision upholds shipowner's right to limit liability
Landmark ruling comes 22 years after the event
- Enrica Lexie case moves to Delhi
Case will set precedent for future incidents involving private armed guards
- Enrica Lexie legacy
Italy battles for jurisdiction as landmark case moves to Delhi
- The truth behind oil tanker spills
Most oil is spilled during loading and discharging cargoes at port
- Scorpio expects healthy earnings for two new tankers
Expectation of $19,250 per day signals a brighter spell for product tankers
- China Merchants' Terminal Link deal gets mixed response
Moody's changes its outlook from stable to negative but S&P rating stays the same
- Seafarers to strike as Greece seeks to ease restrictions on ferry firms
Draft law aims to lift the burden on loss-making sector
- Low-priced orders see Daewoo's net income plunge
But strong orders in 2012 signal better annual results for 2014
- PwC urges shipping to improve its sustainability reporting
Few companies declare their emissions despite the benefits this delivers
- 'There are no easy fixes any more'
PwC benchmark survey tracks shipping's fall and foretells new troubles ahead
- Mother of all ratios
Shipping companies are destroying shareholder value, finds PwC
- Cosco Corp wins $54m orders for two platform supply vessels
Deal with unnamed European owner carries two options
- DP World posts 2.4% rise in volumes
Container terminal specialist highlights improved efficiency and productivity
- Virginia bidders left in limbo
Port authority postpones privatisation decision
|JANUARY 29, 2013|
- Floods choke off Australia's coal shipments
BROKERS told Fairplay today that coal movements from Australia are still almost zero because flooding still grips Queensland, even though storms have moved on
- COSCO expects $1.68Bn in 2012 losses
COSCO said it expects to lose RMB10.45Bn yuan ($1.68Bn) for full 2012
- Scorpio lowers guidance
NYSE-listed Scorpio Tankers has pared Wall Street expectations for 4Q12, but confirmed positive charter-rate momentum for 2013
- Georgia LNG export plan gathers steam
A SHELL-Kinder Morgan joint venture has energised LNG export plans for Elba Island, Georgia, one of the few remaining LNG import terminals in the US
- Abbot Point control shifts
IN A DEAL worth more than $2Bn, Adani Ports & Special Economic Zone has sold its 100% control of Abbot Point Coal Terminal in Queensland, Australia, to APSEZ's own controlling stakeholder
- Lauritzen lent $75M
TWO EXPORT finance banks have issued a $75M term loan facility to J Lauritzen, the Copenhagen shipping group
- Peril seen in export credit financing
SHIPPING'S dependency on export credit finance is threatening the sector's recovery by fuelling excessive ordering, a shipping analyst warned today
- Product tanker balance tightening
SUPPLY and demand balance will tighten from this year to 2015 in the product tanker sector, an Oslo investment bank predicted today
- Ningbo drops into red
SHANGHAI-listed Ningbo Marine said today it expects net losses of 120M yuan ($19.3M) for full-year 2012, mainly because of depressed freight rates
- Modern VLCCs drive scrapping of older tonnage
BETTER fuel efficiency of modern VLCCs is likely to promote the scrapping of older ships, with the sector's tonnage balance and capacity utlisation challenges growing, shipping analysts predicted today
- Baltic traffic disappoints
CONTINUING economic problems in the eurozone keep dampening cross-Baltic Sea cargo flows, according to German port figures
- Belize flag unfurls incentives
THE BELIZE ship register has announced new incentives to build on gains achieved by the flag in 2012
- Mechel buys out Vanino minority stakeholder
MECHEL, the Russian speciality steel and coal-mining group, has agreed to buy out the remaining minority stakeholder in Vanino port
- Neste could lose 130 jobs
NESTE Shipping, the tanker arm in the Neste oil group in Finland, has started a programme to improve its efficiency that could lead up to 130 job losses, almost one-third of its workforce
- Hess to exit downstream
HESS HAS revealed plans to sell its refining, terminal and storage holdings and focus instead on exploration and production
|JANUARY 29, 2013|
- East to West Intermodal Rates Up for Week
East to west spot intermodal rates shot up last week, partly because of a shortage in the New York-New Jersey to Los Angeles lane, but overall spot rates remained relatively flat compared to last week, still hovering at levels roughly 25 percent lower than in early October. All-in, door-to-door -53-foot domestic...
- Suez Convoys 'Continuing' Despite Unrest in Eqypt
Civil unrest in Egypt is not impacting operations at the key Suez Canal ports of Ismailia and Suez and Port Said. A state of emergency has been declared in a number of Suez Canal cities, but Inchcape Shipping Services advised that terminals are operating normally and canal convoys are continuing. "The Egyptian...
- Carriers Advise Shippers on ILA Strike Contingencies
Container ship lines serving East and Gulf Coast ports are urging customers to pick up import containers and return empty boxes before the International Longshoremen's Association contract expires Feb. 6. Maersk Line issued an advisory encouraging customers with dry or refrigerated containers on terminals "to take every available opportunity to have...
- Port Freeport Channel Deepening Project Moves to Congress
Port Freeport in Texas received a positive report from the U.S. Army Corps of Engineers' chief for its Freeport Harbor Channel Improvement Project, which will deepen and widen the Freeport channel. The report will be transmitted to Congress. Port Freeport's next step will be to begin the estimated three-year preliminary engineering...
- ATA Asks FMCSA to Delay New Driver Hours Rule
The American Trucking Associations wants the starting date for new federal hours of service rule for truck drivers delayed to give trucking companies more time to train drivers and adjust operations. In a letter to Federal Motor Carriers Safety Administrator Anne S. Ferro, ATA President and CEO Bill Graves asked for...
- Ex-Im Bank Opens Detroit Office
(L-R) Rep. John D. Dingell; Rep. Gary Peters; Fred P. Hochberg, Ex-Im Bank chairman, president; Senator Debbie Stabenow; Michigan Governor Rick Snyder; and Sandy Baruah, Detroit Regional Chamber president, CEO. The Export-Import Bank of the United States has opened its new regional export finance center at the U.S. Export Assistance Center...
- DHL Express Renews Lease at Amsterdam Airport Schiphol
DHL Express has renewed its lease agreement at Amsterdam Airport Schiphol for another 10 years. Wouter van Benton, managing director of DHL Express, and Andre van den Berg, director of Schiphol Real Estate, signed the agreement on Jan. 28. DHL Express has been located at Anchoragelaan, at Schiphol Southeast, since 2006....
- US Steel Imports Rose 16.9 Percent in 2012
U.S. steel imports in December 2012 totaled 2.3 million tons, a decline of 13.9 percent from 2.7 million tons in November, according to American Institute for International Steel. Imports plummeted month-to-month because many buyers minimized inventory and reacted cautiously as the "fiscal cliff" approached at the end of the year, said David...
- LaHood to Step Down as US Transportation Secretary
Ray LaHood, secretary of the U.S. Department of Transportation since 2009, today announced that he will not serve a second term for President Obama's Cabinet. He said in an e-mail to DOT employees that he plans to stay on until his successor is confirmed. LaHood was the only Republican in the president's...
- Canadian Pacific's Profit Plummets 93 Percent
Class I rail carrier Canadian Pacific Railway reported profit in the fourth quarter of 2012 was C$15 million (about US$14.9 million), plummeting 93 percent from $219.9 million in the fourth quarter of 2011. Quarterly revenue was $1.5 billion, rising 6 percent from $1.4 billion in the same quarter in 2011. A $185...
- ILA Negotiations: Not Over Yet
What's remarkable about the latest twists in the longshore labor negotiations for East and Gulf Coast ports is the muted reaction from shippers. Maybe shippers are simply weary of being whipsawed by five months of contract expirations and strike deadlines since last September. Maybe they've decided they're ready with contingency plans...
- MSC Hikes Europe-Asia Rates
Ocean carrier Mediterranean Shipping Co. has announced general rate increases from Europe to the Middle East and Asia for the first quarter of 2013. Effective immediately, the rate hike will be $1,500 per refrigerated container originating from Europe to any destination in the Middle East or Asia. Beginning March 10, the increase...
- Annual Review & Outlook 2013: U.S. Customs and Border Protection
This coming year we will continue to see substantive new benefits for the trade community and our economy as a result of the ongoing transformation of U.S. trade facilitation. Government continues to partner with stakeholders to achieve joint solutions that reduce the length and cost of transactions, enhance coordination and...
- Annual Review & Outlook 2013: National Customs Brokers & Forwarders Association of America
One initiative the NCBFAA has worked on for the last several years that will continue into 2013 is the ongoing co-development with Customs and Border Protection of the functionalities needed to make the Automated Commercial Environment a practical operating system. In 2013, we expect ACE to include border/cargo release and...
- Annual Review & Outlook 2013: Mitchell Silberberg & Knupp
What happens in the regulatory arena over the next year depends in great measure on how disciplined Congress becomes. For example, where will budget cuts hit the various regulatory agencies? Will new laws be enacted that require agencies to take on significant new responsibilities but provide no additional funding, staffing...
- Annual Review & Outlook 2013: Jacksonville Port Authority
Among the many issues of critical importance to the nation's seaports in 2013 will be more vigorous coordination with the U.S. Army Corps of Engineers and Congress on prioritizing, funding and actually completing projects to maintain the nation's competitiveness on the international stage. This will require leadership and vision to...
- Annual Review & Outlook 2013: International Projects
Basel III, a global standard that significantly increases the amount of capital and liquidity that lending institutions must maintain to support their operations, is likely to make trade finance less available and more costly in the foreseeable future. The Third Basel Accord increases the capital ratio to 4.5 percent, plus an...
- UK's Tyne Port to Invest in Wood Pellet Business
The port of Tyne, Europe's biggest handler of wood pellets, announced plans to invest £180 million ($283 million) in additional facilities to handle, store and distribute imports for the UK's power plants. The port in northeast England, which has capacity for 1.4 million metric tons of wood pellets annually, said it...
- High Level of Asia-Europe Cancellations Expected
Ocean carriers have become adept at reducing capacity on an ad hoc basis when cargo volumes drop, and this operating strategy could reach a new level next month during the annual Chinese New Year celebration. With indications that factories in Asia will begin closing in early February and remain shut for...
|JANUARY 29, 2013|
- Newbuild uncertainty reigns
That is the view of Braemar Seascope's research director Mark Williams. The executive told delegates attending a recent Marine Money conference that there were ...
- OOCL launches GRI in 'bastion of stability' tradelane
Assuming that the current US east coast labour contract negotiations have been resolved by that date, OOCL is intending to apply a general rate increase effective ...
- DP World posts 2.4% rise in volumes
DP World handled 56.1m teu across its global terminal network in 2012 - a 2.4% increase over 2011 and up 3.7% when adjusted for the divestment of four ...
- New Evergreen service banks on Turkey
Taiwanese ocean carrier Evergreen Line is launching a new feeder service in the eastern Mediterranean at the end of January. Offering an improved 10-day service ...
- Kranich predicts 2013 peak season for box trades as conditions stabilise
Early indications suggest that 2013 could shape up into a considerably better year for container lines than 2012, which failed to match promises in the latter half.That ...
- CMA CGM retains calls at terminals sold to China Merchants
|JANUARY 29, 2013|
- Spill totals slide
Accidental oil spills from tankers hit a record low in 2012, according to statistics released by the International Tanker Owners Pollution Federation (ITOPF).
- Great Lakes gold mine?
Calumet Specialty Products Partners of the US is exploring the feasibility of building and operating a crude oil loading dock on Lake Superior.
- Trans Power targets IPO
Indonesian tug and barge operator PT Trans Power Marine is planning to list on the Jakarta Stock Exchange next month.
- Cash for Turkish ferries
The EBRD prepares EUR 33m loan towards three new ships for city of Izmir.
- Two vie for run
Two US companies are bidding to operate a ferry service down the east coast of Canada to Maine.
- Siem ices Garnet lay-up?
There is confusion over whether Siem Offshore has shelved plans to put one of its high spec anchor handlers into warm lay-up.
- Veteran ro-pax sold
Danish ferry company Danske Faerger has offloaded a laid-up ro-pax to compatriot Petersen and Sorensen.
- Hanjin Shipping Holdings slips
Korean owner Hanjin Shipping Holdings has posted a 25% drop in earnings for 2012 despite revenue rising.
- Seaspan to supersize
Big spending Seaspan is ready to supersize its already formidable 2013 newbuilding tally, its CEO says.
- KDM volumes shrink
Ukrainian cargoship owner KDM Shipping has posted a slide in volumes in 2012.
- New name on DSX roster
Manning & Napier has taken a significant position in Diana Shipping in what is a rare move in the sector for the US investor.
- Hanjin closes on orders
Korea's Hanjin Heavy Industries & Construction is closing in on orders for up to 20 ships.
- Chios buys panamax
Dino Caroussis has stepped into the sale and purchase market to pick up a panamax bulker, brokers say.
- Scorpio warning 'minor'
A profit warning from Scorpio Tankers has been brushed aside as a minor issue by analysts tracking the tonnage hungry owner.
- Mermaid boosts backlog
Mermaid Maritime has added to its recent flurry of contracts wins with more work across Asia.
- K Line selling again?
Japanese owner K Line is reported to have offloaded more bulkers as it trims its fleet.
- Schulte ship released
A German boxship that grounded on a reef in the Maldives has been allowed to leave.
- Provisions cap DSME
Provisions which scarred another quarter of Daewoo Shipbuilding & Marine Engineering's balance sheet will keep the shipbuilder's stock capped, a leading analyst says.
- Tokelau gifts ferry
The government of Tokelau in the Pacific has handed over a laid-up ferry to Samoa.
- K Line's rating cut
Standard & Poor's (S&P) has downgraded the debt rating of Kawasaki Kisen Kaisha (K Line) due to doubts over the speed of its recovery.
- Clarksons charts China loss
China's shipbuilding industry has seen its newbuilding orderbook cut in half in the past two years with a staggering 90 yards running out of work, Clarksons says.
- Sembcorp settles
Singapore's Sembcorp Marine has reached a deal to end a row over unauthorised foreign exchange transactions with its former auditor Ernst & Young.
- Orlova tug recalled
An attempt to re-fix a tow line to a cruiseship adrift off Canada has failed.
- China Merchants bags $1bn
China Merchants Holdings International (CMHI) has secured a $1bn loan from its parent company.
- Polaris plotting IPO
Polaris Shipping of South Korea is rumoured to be lining up an IPO just a few months after the biggest deal in its history.
- Norway top spenders
Norwegian shipowners spent the most money on newbuildings last year latest research from Clarkson shows.
- DP World inches up
DP World has reported modest growth in the numbers of containers handled worldwide, it emerged Tuesday.
- Scorpio set to miss
Scorpio Tankers is set to miss analyst's fourth quarter earnings estimates for 2012 it emerged Tuesday.
- Biomass to boost bulk
Wood pellet exports from the US to Europe have jumped 70% year-on-year, latest industry figures show.
- ICTSI raises $100m
International Container Terminal Services Inc (ICTSI) has tapped the bond market for the second time in a month raising $100m.
- Shell eyes US exports
Shell is teaming up with Kinder Morgan have joined the growing number of companies looking to export LNG from the US.
|JANUARY 29, 2013|
- ATA requests hours of service compliance delay
- NS budgets $2 billion for asset improvements
The largest expenditure, $831 million, will go to maintenance and replacement of tracks, crossties, ballast and bridges to ensure reliable and safe operations. Another $420 million will be used to buy new locomotives and other equipment.
- Commentary: English football and liner shipping
- LaHood confirms he'll step down from DOT
The U.S. transportation secretary has been coy about his intentions in recent months, but department watchers expected him to leave after one term. A few months ago he said he hadn't decided on whether or not to stay.
- VPA to hold hearing on terminal privatization
Both APM Terminals and a group that includes Maher Terminals and JPMorgan IIF Acquisitions LLC have submitted bids to privatize the VPA terminals under the state's Public-Private Transportation Act of 1995.
- Washington Notebook: Report provides update on U.S. export strategy
- U.S. exporters praise Japan beef trade agreement
Japan is currently the No. 2 market for U.S. beef exports in terms of value and No. 3 in volume (143,900 metric tons or 317.2 million pounds) valued at $969.8 million through the first 11 months of 2012.
- OOCL hiking transatlantic rates
- Durable goods manufacturing grows in December
- NRF expects 3.4% sales growth in 2013
- Corps gives nod to Freeport channel deepening
- Evergreen launches Greece-Turkey-Malta feeder
- DP World container volumes up 2.4%
- Ex-Im Bank opens Detroit export finance office
- U.S. steel imports in December fall 13.9%
- U.S. supports solar exports to Mexico
- Miller trade group's head steps down
|JANUARY 29, 2013|
- Rotterdam needs LNG bunker tanker
Port authority could help procure the investment.
- IFO prices firm in Fujairah
Markets generally stable.
- Prices show mix movements across Europe
Congestion eases in Rotterdam.
- Seaspan: 'We don't have enough fuel efficient ships'
'As soon as fuel efficiency is taken care of, other things are taken care of accordingly,' says CEO.
- Rotterdam annual bunker sales down by a tenth
Only MGO sales show year-on-year growth in 2012 in Dutch bunkering hub.
- Fuel oil 'supply glut' continues
Overhang 'may continue until the start of regional refinery maintenance season.'
- Refiner to start offering low sulphur product in March
Hyundai hopes to be selling 5,000 mt of low sulphur material a month.
- Asian bunker activities to pick up ahead of Chinese New Year
Buyers face surcharges in Hong Kong.
- Asian IFO prices lack direction
Singapore benchmark 380 cSt bunker fuel lost $1.50 pmt.
- Rewarding risk
If bunker providers play the role of banks in the shipping casino, there has to be something in it for them.
- Conference to discuss ways to build US LNG bunker market
Forum will look at end-user challenges.
- US-based firm to sell New Jersey refinery
Hess Corporation will close the refinery by the end of February 2013 and exit the refining business.