|MARCH 18, 2014|
- Hutchison sells 60pc of HK terminal ACT to Cosco Pacific and CSTD
- HIT's new US$6.43 million barge cranes to boost productivity 30-40pc
- Ship loss in decline since 2003, but rise in size keeps insurer risk high
- FMC fines Rickmers US$190,000 after CEO Widdows spots violation
- Evergreen to end NYK, Hanjin, Yang Ming vessel sharing agreement
- Libra Group's Lomar Shipping continues building in Chinese yards
- Libyan rebels block oil exports and sell what they can to fly-by-night tankers
- UASC brings 18,000 TEU programme to 6 units, orderbook highest worldwide
- North east Asia-Oz trade 9pc up in Q4, but numbers out of whack: Drewry
- Northport expects 11.5pc rise in transshipments as 4th terminal opens
- U-Freight Swedish partner wins customs accreditation as AEO-F
- Lufthansa Cargo wins Excellence award at LA World Cargo Symposium
- ACE airline, airport award winners hailed for being the busiest
|MARCH 17, 2014|
- Allcargo joins hands with Scania to provide world class trailers to its customers across India
- Blank sailings pushing liner reliability down, says Drewry
- DB Schenker Logistics carries ABB transformers 4,000 km from St. Petersburg to Novosibirsk
- Guidance on security certification for seafarers agreed
- Hapag-Lloyd a partner in new service between Japan, Singapore & Jakarta
- Hyderabad CHA Association elects office-bearers for 2014-16
- Insider novel sheds new light on oil spills
- MOL President visits Myanmar to further strengthen business cooperation with the country
- Nordic Maritime clinches offshore seismic data contract from Cairn India
- Port of Felixstowe gets clearance to extend quay
- Ports of Antwerp & Rotterdam want stricter emission standards from January 1, 2016
- Vasan opts out of Lok Sabha polls
- Grape exports to increase in 2013-14 on good demand
- New Mangalore Port achieves a new high in annual throughput
- Port of New Orleans, Samsara Shipping sign contract for representation in India
- TRAFFIC HANDLED AT MAJOR PORTS
- Traffic handling seen not keeping up with investment in ports
- Eastern Railway freight earnings surge 36 pc in Feb. to INR 455.22 cr.
- IRB commences work on Goa-Karnataka border to Kundapur BOT project
- L&T bags INR 3,655-cr. road project in Qatar
- Forex reserves up $ 1.088 bn to $ 295.45 bn
- INR ends weak at 61.19 on dollar demand
- New RBI system to process & monitor export data
- RBI introduces single platform edpms with effect from March 1, 2014
- Several SEZ projects wait for govt nod
|MARCH 18, 2014|
- Ewals starts forwarding on four new intermodal corridors
- Farnair to acquire 45% of Thai cargo carrier
- LA and Long Beach top ranks of US ports
- Thailand's government investing in rail infrastructure
- Tapa Emea wants to fight cargo crime rise
- Slight dip in growth at world's busiest cargo airport
- HPH sells stakes in ACT to Cosco Pacific
- Amtrak unveils infrastructure plans
- Hellmann: new office in Auckland and bigger headquarters
- For St. Patrick's Day: Etihad increases Aer Lingus stake
- Zeeland Seaports introduces intermodal planner
- MD Logistics chooses new retail director
- Scania lands bumper order
- Gezielt in die Nische
- New kingpin for Transoflex
|MARCH 17, 2014|
- Foss orders ocean going barge at Gunderson
- SEALS take control of tanker Morning Glory
- E.R. Schiffahrt implements e-learning course fleetwide
- Jaccar moves to take majority stake in Bourbon
- Three Keppel O&M shipyards book contracts
- Navy awards DDG 51 contracts
|MARCH 17, 2014|
- ATA turnover report finds large truckload carrier numbers down
- CSX Transportation taps Sease as communications vice president
- CII calling for nominations for annual Connie Awards
- Port of Los Angeles sees cargo volumes slide
- Inchcape Shipping Services names Lavau-Wira Sales VP
|MARCH 17, 2014|
- EU imposes Crimea sanctions
Names of targets expected to be made public on Tuesday
- Navios Acquisition lines up bond to cover VLCC funding
Tanker owner opts for private placement of 8.125% notes
- TEN gets Statoil green light for four more aframaxes
Options lift total project to nine tankers as Greek owner posts reduced loss
- No change at the top for US ports
But Long Beach is gaining ground on rival Los Angeles
- Financial pressure leads to asset sales
Carriers sell terminal stakes to generate cash, but is it just a short-term solution?
- Ports seize growth opportunity
Leading box hubs show creditable rises, but declines elsewhere temper optimism
- GPI box volumes figures boosted by NCC
Russian operator sees drastic variation in terminals' performance
- Long-haul product tanker trades shrouded in uncertainty, says Poten
Will new refinery capacity come onstream?
- GE Capital aviation arm plans shipping move
Up to $2bn could be available, says Liu
- Sainty Marine in arbitration with Greek owner over 12 dry bulk newbuilds
Chinese shipyard claims it received no payment
- Capesize market holds steady after the fall
Free to read: Outlook uncertain with Chinese iron ore stocks at record highs and steel mill demand falling
- Morning Glory seized by US navy
Vessel and crude cargo to be returned to Libyan authorities
- Jaccar makes $2.5bn Bourbon bid
Offer represents a 19% premium on the stock's weighted average for the past 100 trading days
- Enesel gets $380m financing with South Korean ECA support
Facility will help pay for five 13,800 teu ships to be delivered on Evergreen charter this year
- Scorpio Tankers sale sets tone for CMA
Big headlines for Bugbee's company as annual event kicks off
- CIMC invests $1bn in new container plant
New factory in Dongguan will have 750,000 teu production capacity
- ILWU health quandary
Obamacare headache for dockworkers' union
|MARCH 17, 2014|
- Jaccar moves to take majority in Bourbon
Jacques de Chateauvieux's Jaccar Holdings is looking to increase its 26% stake in French offshore vessel operator Bourbon to a 50.1% majority
- TEN bumps up Statoil-backed Aframax order
More new business from Norwegian oil major Statoil has enabled orders for four additional Aframax crude oil tankers, NYSE-listed Tsakos Energy Navigation (TEN) revealed today
- Fresh note issue to fetch Navios Acquisition $50M
Navios Acquisition has launched a $50M issue of first priority ship mortgage notes, with proceeds earmarked to replace cash recently expended on a VLCC
- Jinhui refunded $24M for cancelled order
Jinhui Holdings, the parent company of Jinhui Shipping and Transport, today said a ship-owning subsidiary had been refunded $24M from a cancelled newbuilding order
- Sainty Marine wins 10 MPV
Shenzhen-listed shipbuilder Sainty Marine announced on 15 March that it has inked the contracts with German-owned Zeaborn for the construction of six 12,000dwt multi-purpose vessels plus four options
- HIT invests $6.4M in barge cranes
Hongkong International Terminals (HIT), the largest container terminal operator in Hong Kong, yesterday said it had put into operation two new barge cranes with an investment of HK$50M ($6.4M)
- Perisai buys AHTS vessel from Ezra
Malaysian offshore oilfield service provider Perisai Petroleum is to buy an anchor handling tug supply vessel from Singaporean peer Ezra Holdings
|MARCH 17, 2014|
- Fixing Port Drayage
From New York to Norfolk, Va., and Los Angeles-Long Beach to Vancouver, British Columbia, port congestion that spills out into the real world in the form of truck lines, pollution, supply chain delays and occasional violence is a rapidly escalating problem affecting foreign trade. The problem defies conventional explanations -...
- Crowley to Carry LNG in Containers
Liquefied natural gas soon will become a cargo as well as a fuel for Crowley Maritime. Crowley, which in November ordered two container ships that will use LNG fuel, said its Carib Energy unit has won a multiyear contract to supply LNG in containers to Coca-Cola Puerto Rico Bottlers and Club...
- US Containerized Exports Down Again
U.S. containerized exports through January 2014. Full-size image U.S. containerized exports slipped 1.2 percent year-over-year in January to 958,708 TEUs, the lowest monthly volume since June 2013 and the lowest level for a January since 2011, according to preliminary figures from PIERS, the Data Division of JOC Group. January was the second straight...
- Vancouver Truckers' Strike Hits Shippers
TSI DeltaportThe delivery of local imported cargo at Port Metro Vancouver is being interrupted as the standoff between striking truckers and the Canadian government showed no signs of ending today. With the strike entering its third week, and truck traffic at Canada's largest port down to a trickle, marine terminals are...
- ABF Freight to Raise Rates 5.4 Percent
ABF Freight will raise its general less-than-truckload charges an average of 5.4 percent, starting March 24. The average price hike is 1.1 percentage point higher than the raise announced by UPS Freight today, and 1.5 percentage points higher than the increase posted by FedEx Freight earlier this month. The three LTL...
- Rising Freight Rail Premiums Suggest Lack of Competition, Study Says
WASHINGTON - A new study suggesting U.S. freight railcar premiums have soared in recent years, implying a lack of competition, comes as Class I railroads and some shippers prepare to square off against the railroads at a major federal hearing later this month. The study - commissioned by the American Chemistry...
- New China Forwarding Rules Could Force Carriers to Turn Away Cargo
New Chinese forwarding regulations will add costs to shipping freight from China and could force container lines to turn away business. Under the rules that took effect Feb. 15, non-vessel-operating common carriers and forwarders doing business in China must obtain a license from the country's Ministry of Transport. To gain a...
- Russia's Global Ports Posts Mixed Results
Global Ports, Russia's biggest container terminal operator, boosted profit by 6 percent in 2013, even as revenue declined due to lower oil exports. The London-listed company, which acquired domestic rival NCC for $1.6 billion in December, made a profit of $114 million against $108 million in 2012 on revenue of $480...
- FMCSA Releases Electronic Logging Rule
A proposed rule that would require truck and bus drivers to replace paper logbooks with electronic devices is "on the street" and available for review online, though the official comment period hasn't begun yet, according to Federal Motor Carrier Safety Administrator Anne S. Ferro. The rule was posted on the FMCSA...
- UPS Freight to Hike General Rate Base 4.4 Percent
Effective March 31, UPS Freight will raise its less-than-truckload general base rates an average of 4.4 percent, a 0.5 percentage point higher hike than the one sought by the parcel giant's top competitor, FedEx Freight. The rise in spring rates comes as shippers and trucking companies prepare for higher traffic and tighter capacity....
- Roadrunner Buys Unitrans International
Roadrunner Transportation Systems is expanding its international logistics business by acquiring Unitrans International, a non-asset logistics provider, for $55.5 million. Buying Unitrans gives Roadrunner, which has built a broad portfolio of truckload, less-than-truckload, intermodal and logistics businesses through acquisition, greater global reach. Roadrunner, No. 15 on JOC's list of the Top 25...
- China's VAT for Forwarders Still Not Resolved
SHANGHAI - Forwarders in China still can't deduct freight payments of a value-added tax, even though Chinese officials provided additional guidelines earlier this year. China's Ministry of Finance tried to clarify its new VAT on logistics services to allow second-tier forwarders, not just those who sign contracts directly with the carriers,...
|MARCH 17, 2014|
- Genco sees red
US bulker owner Genco Shipping & Trading (Genco) has postponed the filing of its annual report.
- $500bn burden
Looming global environmental regulations could impose more than $500bn in additional costs over the next decade, according to the chairman of the International Chamber of Shipping (ICS).
- OSG scraps aframax
Bankrupt US tanker operator Overseas Shipholding Group (OSG) appears to have offloaded one of its oldest aframaxes.
- NAO readies IPO
Nordic American Tankers' offshore offshoot appears to be moving forward with plans to pursue an initial public offering (IPO) in the US.
- Ultrabulk grows orderbook
Ultrabulk has boosted its newbuilding catalogue with the addition of up to five more vessels.
- Princimar branches out
US tanker operator Principal Maritime Management (Princimar) has launched a campaign to acquire more than a dozen stainless steel chemical carriers.
- Vard debuts in Canada
Norwegian offshore shipbuilder Vard has established its first foothold in North America with a new office in Canada.
- Ocean Yield scoops $101m
Ocean Yield has netted a shade over $100m from a trip to the Oslo bond market.
- DBS lifts Vard view
DBS Vickers has raised its outlook on Norwegian offshore vessel builder Vard after the company's flurry of recent order wins.
- Four held in the UK
The Maritime and Coastguard Agency (MCA) detained four ships in February, including the broken-down livestock carrier Express I.
- Global Ports earnings sag
Global Ports has reported a drop in full year earnings despite container throughput remaining flat.
- NNA goes for notes
Navios Maritime Acquisition Corporation (NNA) is selling $50m of notes to partly finance a VLCC acquisition.
- Tsakos hits the mark
Tsakos Energy Navigation has recorded a stronger fourth quarter result in line with Wall Street forecasts.
- GSI profit dips
Chinese shipbuilder Guangzhou Shipyard International (GSI) reported a slump in earnings last year as orders fell away.
- TEN on cloud nine
Tsakos Engery Navigation has expanded its aframax tanker order at DSME to nine firm vessels.
- Archipelago eyes buys
A Philippines ferry company is lining up orders for 30 new freight and passenger vessels by 2018.
- Cash harvest spurs STNG
Shares in Scorpio Tankers surged on Friday as analysts gave a predictable thumbs-up to the sale of its VLCC fleet which returned a profit of $50m.
- Burned crewman rescued
A crewman has been evacuated from a Polish cargoship off the US after suffering burns.
- Keppel snares trio
Keppel Offshore & Marine has wrapped up a batch of contracts worth over $100m.
- Topaz stronger again
Dubai's Topaz Energy and Marine has revealed much better annual profit for its Nico Middle East unit.
- Legal & General in CKN buy
Legal & General has upped its interest in Clarksons on the back of strong full-year results from the world's largest shipbroker.
- Bulker grounded in Parana
A Greek bulker blocked the port of Rosario in Argentina after going aground.
- Ocean Yield in bond run
Ocean Yield is set to tap the Oslo bond market to refinance an existing bond which still has over two years to run.
- USCG probes clash
A Wisdom Line cargoship has been damaged in a collision with a barge in the Houston ship channel.
- US seizes runaway tanker
US navy seals have stormed a tanker which ran a blockade in Libya with a contraband cargo last week.
- Second score for STNG
Scorpio Tankers is sitting on its second potential windfall in a week after Dorian LPG announced the pricing of its IPO.
- Jinhui wins refund
Jinhui Shipping & Transportation has won a refund of $24m for a cancelled bulker.
- Ro-pax captain cleared
The case against a New Zealand ferry captain has been dismissed after a judge ruled there was no risk in taking to sea with a hole in the vessel's hull.
- Jaccar moves for Bourbon
Bourbon chairman Jacques de Chateauvieux has launched a takeover offer for the French offshore shipping giant.
- ABG debt deal in doubt
Indian shipbuilder ABG Shipyard has reportedly failed to win the backing of its lenders at its latest restructuring meeting.
- Enesel seals bank loan
Enesel has agreed a $380m secured term loan facility to help part finance a series of 13,800-teu containership newbuildings.
- MISC shares on a roll
Investors who blocked the privatisation of MISC look to have been vindicated after the company's share price hit a new high.
- Ezra in leaseback deal
Ezra Holdings has agreed a sale-and-leaseback deal for an anchor handler with Malaysia's Perisai Petroleum Teknologi.
- Yamal first for DSME
DSME has secured an order for an LNG carrier from Sovcomflot in a deal worth KRW 340bn ($316m), it announced Monday.
- Bulker in Canada prang
A supramax bulker has gone aground off Canada's east coast after experiencing main engine failure.
|MARCH 17, 2014|
- Panama Canal contract addendum signed
The international consortium building a wider set of locks for the Panama Canal said it has signed an agreement with the Panama Canal Authority to ensure completion of the mega-infrastructure project, ending a three-month billing dispute.
- FAA: Air cargo to increase 4.2% annually
The Federal Aviation Administration says air cargo traffic will increase at an annual growth rate of 4.2 percent, doubling by 2034. This increase, the agency noted, will be fueled by steady economic growth, both domestic and worldwide.
- Trucking industry to launch image campaign
Groups representing various sectors of the trucking industry plan to kick off a broad publicity and education campaign at this week's Mid-America Trucking Show in Louisville, Ky., to enhance trucking's image.
- UPS Freight to up rates by 4.4%
UPS Freight will impose a general rate increase of 4.4 percent for less-than-truckload shipments starting March 31, following a move by FedEx Freight earlier this month that increased its rates by an average of 3.9 percent on March 31.
- St. George expands in Savannah
- European cargo theft rose in 2013
- New app lets users monitor Panama Canal
The Panama Canal Authority has announced the launch of a new app for mobile devices to expand audience participation in the waterway's operations.
- FMC reviews 30 OTI license applications
- China e-commerce giant Alibaba to list on NYSE
- SEALs seize tanker in Mediterranean Sea
- Manhattan aids Lennox in supply chain redesign
- Terminal declares 'force majeure' as Vancouver trucker strike continues
- CORRECTION: Cleveland port's stance on open lake disposal
- Kumar to lead U.S. and Foreign Commercial Service
|MARCH 17, 2014|
- LNG bunkering 'passes milestone'
'There are now 100 confirmed LNG projects worldwide.'
- Mixed price trends in Fujairah
Prices flat at Suez.
- Prices follow upward path
Congestion at Gibraltar.
- Port gets tough with truckers
Return to work or lose your licence, says CEO.
- Additive to 'prevent microbiological contamination' in MGO
'Fuel quality is worsening and is no longer homogenous.'
- OW Bunker to supply in Australia
Service starts from April 1.
- Cost of fuel oil arbitrage falling
'Fuel oil market in Asia will be under pressure until the end of March.'
- Tanker arrested in Singapore
Vessel linked to Athens-based interests.
- Fuel barge in collision with general cargo ship
Accident had potential to be a 'major environmental incident.'
- Shipowner goes large to save on fuel
Gearless outweighs geared tonnage on Asia-Africa route.
- German shipowner fined for bunker spill
A thousand litres were spilt.
- Asian bunker market starts week mixed
'Very tight' avails seen in Tokyo Bay.
- Researcher uncovers bunker-saving VLOC design
New design more fuel efficient that previous designs.
- Australian offshore specialist buys fuel-saving duo
Newbuildings to use a diesel-electric system.
- Singapore firm to start bunkering, supply ops in Australia
New port provides the business focus.