|AUGUST 21, 2014|
- Maersk Group profit up 42pc to US$2.4 billion, as sales rise 2.3pc
- Cosco International H1 profit up 45pc to US$24.5 million
- TSA carriers to increase transpacific rate US$600/FEU from September
- Hapag-Lloyd to raise Far East-Red Sea rate US$200/TEU from September
- Oakland Gaza protest makes good threat, stops Zim loading
- Hamburg first half import container volume up 7.4pc to 2.5 million TEU
- Ukraine's Port of Odessa handles its first 9,400-TEU containership
- Schenker sues raft of air carriers in old price fixing case
- DHL Express Kenya attains EU air cargo security validation
- Panalpina and Cargolux start San Juan to Europe freighter service
- China's big 3 airlines to lose on RMB depreciation against US dollar
- World freighter and bellyhold conference in Budapest September 21 - 23
|AUGUST 20, 2014|
- Maersk's Q2 net jumps to $ 2.3 bn on higher freight volume
- MANSA welcomes new Chief Commissioner of JNCH
- Farm goods' shipments hit as guargum exports decline
- Honey exports shoot up to INR 444.98 cr. in 2013-14
- Volkswagen to export 50 pc of cars made in 2014
- Independence Day celebrated at JNPT
- India & Czech Republic sign MoU on technical cooperation in rail sector
- New method for highway project allocations soon
- NHAI to float firm for buying out distressed road project loans
- PM lays foundation for INR 1,394 cr. Haryana-Rajasthan highway project
- Snowman Logistics IPO opens on Aug. 26
- Govt increases minimum price for arecanut imports by INR 60/kg
- Importers, retailers 'troubled' by FSSAI standards
- India to stay within WTO food subsidies limit
- India's rough diamond imports decline
- Plastics expo generates biz worth $ 150 m
- Trade pacts widening deficit in non-tyre products: Study
- Vedanta criticises high duty on iron ore exports
- Sheela Thomas appointed ANRPC Secy-Gen
|AUGUST 21, 2014|
- Millionenschwere Fussballfelder im Kanal
- PKP Cargo buying new locomotives
- India and Czechia to collaborate
- Prologis close to 2 million sqm warehouse space in Germany
- Change of presidency at Erfa is fait accompli
- Port sees overall gain with jump in empty containers
- 100 trucks and over 2,000 pallet slots per night
- Executive changes for Ryder System in 2015
- Singapore Post staking claim in Western Europe
- Etihad Sky offers stabling aloft
- Employed fleet growth at highest level since 2011
- Volvo launches gas-powered truck
- Pushing out the frontiers to Czechia
- ICT on the move
- Expeditors Americas president retiring
- ACS proceeds with evacuation flights from Northern Iraq
|AUGUST 20, 2014|
- Border tracts attract lease sale bids
- Star Bulk adds to fleet
- Austal completes sale of 102 m trimaran
- MacGregor subsea cranes ordered for two MPSVs
- Cecon Pride completes sea trials
- Navibulgar orders Bluetech 42 design bulkers
|AUGUST 20, 2014|
- Port of Tacoma continues string of months with box volume growth
- Evergreen Line container ship making first direct Boston call
- YRC Freight expanding distribution center network
- ATA truck tonnage index posts gains during July
- CSX Transportation taps Jenkins as vice president for e-business
|AUGUST 20, 2014|
- Star Bulk scotches Eagle Bulk takeover scenario
No Oaktree affiliates in the crosshairs but supersized bulker owner will continue to hunt 'good deals'
- NOL mulls over sale or IPO of logistics arm
UPDATE: Loss-making Singaporean firm to cash in profit-making business
- Yard Talk | Strange silence over world's new largest boxships
SHI and DSME quiet over new orders linked to MSC charter requirements
- GasLog declares second-quarter profit in line with forecasts
Owner remains 'bullish' on LNG prospects and own growth opportunities
- Star Bulk posts small loss in last quarter before supersizing
Pappas hails 'solid' performance, hints at interest in growing further
- Restis and UANI 'in new talks'
Washington intervenes in New York court case stemming from Iran allegations
- Fleet weekly: first signs of increases in inactive fleet to come
Inactive fleet continues at low levels, but first news of Golden Week lay-ups emerges
- Maersk Line reveals Golden Week service changes
AE7 and AE6 services will be adjusted to reflect a decrease in demand
- Aronnax: Cutting the innovation path
Hartmann, Ocean Yield, Sinopacific and Sabic in unique gas ship newbuild orders
- StanChart takes 10% stake in Topaz
$75m injection will fund expansion, says Renaissance subsidiary
- STX Mumbai arrest was wrongful
Singapore High Court orders inquiry into damages
- Two seafarers dead after incident on Genco Challenger
US authorities investigate claimed fight on Hong Kong-flag bulker off Delaware
|AUGUST 20, 2014|
- Death-trap container prompts insurance fears
Insurers are studying the implications of last weekend's incident where one man died and 34 others were rescued from a container unloaded at Tilbury Docks in the UK. Shipping and haulage firms, concerned about future similar incidents, are looking hard at their insurance policies. Neil Smith head of
- Indian shipping leader returns to profit
India's biggest shipping company has reported a profit in 2Q14, ending five consecutive quarters of losses. State-owned Shipping Corporation of India (SCI) delivered a net profit of INR475M ($8M) for the quarter, against a loss of INR987M in the same period last year. Comparative pre-tax operational
- Sungdong secures LR1 Tanker pair
South Korean yard Sungdong Shipbuilding & Marine Engineering has secured an order for two long range one (LR1) tankers from a European owner. The two 74,500dwt eco-vessels have improved fuel-efficiency by using the "G-Type" engine and eco-friendly ship design, which has a fuel economy effect of
- Turkey to send powership to Gaza
Turkish energy group Karadeniz plans to station a ship equipped with electricity generating capacity off Gaza to help the enclave meet its energy supply needs following damage sustained during recent Israeli bomb attacks. The group, which has already supplied "powerships" to Iraq, Lebanon and
- ESL Shipping bottom line up
Aspo's maritime subsidiary, ESL Shipping, announced an improved 1H 2014 operating profits yesterday. The Finland-based, Nasdaq OMX Helsink-listed Baltic dry bulk cargo carrier's 1H bottom line rose to €6M ($8M) yoy from €1.7M. Revenues crept up just €2.2M to €40.4M.
- Shootings at sea caught on film
A video showing four men gunned down at sea posted on YouTube on Monday by a Fijian University student has become the centre of a police investigation. In the 10-minute video an armed man shoots and kills four men clinging to wreckage in the water. Other fishing vessels appear nearby. The crew on
- Concordia Maritime confirms spot market focus
Concordia Maritime, the Swedish listed tanker owner, says it has revised its strategy to become a spot market operator instead of seeking long-term contracts to employ most of its tonnage. "We have in recent months worked to align the fleet with our new employment strategy. Ten out of the total 11
- More migrants found in reefer
UK police have reported a second incident in which migrants suffering from dehydration have been found inside a container. Avon and Somerset police said they found 15 people inside a refrigerated container lorry at a service station at Ilminster, Somerset. Police arrested the truck's German driver
- Arrium profits up 83%, BHP 23%
Whyalla-based Australian miner and steel manufacturer Arrium listed a $296M net profit for FY14 yesterday, up 83% on the previous year. The BHP company OneSteel's reported earnings reflected increased mining growth, which despite falling ore prices, offset its depressed steel manufacturing industry.
- Changhang Phoenix profited $30M in 1H14
Changhang Phoenix, a listed bulk carrier operating unit of Sinotrans&CSC, reported today that it returned to the black with profits of CNY186M ($30M) in the 1H14. Revenues fell 30% year on year to CNY527M due to cuts in capacity under restructuring, a stock filing of the company said today. During
- Fortescue profits up 56%, more ships on order
Fortescue today announced a $2.74Bn profit for FY14, record shipments of 124.2M tonnes, up 53% on FY13 and a new order of four VLOCs, bringing its fleet to eight ships by 2018. Company debt was reduced from $12Bn to $7.2Bn and shipping volumes for FY15 are forecast at 155M to 160M tonnes. The June
- Boustead signs MoU with Malaysian government
Malaysia-listed investment holding company Boustead Holdings's subsidiary Boustead Naval Shipyard (BNS) has signed a memorandum of understanding (MoU) with the government of Malaysia to develop local businesses. Under the MoU, BNS will train local entrepreneurs in the manufacturing and services
- Port Kembla reopens after shutdown
Port Kembla on Australia's southeast coast reopened operations at 08.30 AEST today, after severe winds and heavy swell had closed the port on Sunday morning. All waiting ships, including four bulk carriers are scheduled to be cleared by 21.00 EST, according to Harbour Master Kell Dillon. "The port's
- Victims' families oppose Sewol bill
A South Korean government bill on how the Sewol tragedy should be investigated and giving student victims preferential university entry is meeting resistance from their families. The ruling Saenuri Party and the main opposition party, New Politics Alliance for Democracy (NPAD), have agreed to
- Wheat cargoes lift Supramax rates
The Supramax market is seeing a long-awaited uptick in freight rates, as a surge in wheat cargoes from the Black Sea is raising shipowners' hopes. The Cannakkale-Singapore-Japan rate gained $156 to $14,525/day on the Baltic Supramax Index yesterday, helping to lift average timecharter rates to
- Evergreen, Yang Ming return to black in 2Q
Taiwanese carriers Evergreen Marine Corp and Yang Ming Marine recorded profits in the second quarter of 2014, returning to black from losses from the previous quarter and the same period last year. Evergreen posted a net profit of TWD150.2M ($5M) in 2Q14, compared to a loss of TWD400M in 2Q13 and a
- Bumi Armada to supply FPSO worth $1.18Bn
Malaysia-listed offshore oilfield services provider Bumi Armada has been appointed as the FPSO lease contractor for the Madura BD Field, Offshore Indonesia, via a letter of intent issued by Husky-CNOOC Madura (HCM). Bumi Armada's wholly-owned subsidiary, Bumi Armada Offshore Holdings (BAOH), with
- SBI Offshore clinches $24M rig contract
Singapore-listed offshore marine solution provider, SBI Offshore, has secured a $24M contract to provide design and engineering services for a jack-up drilling rig that can operate in water depths of up to 110m. SBI Offshore's wholly-owned subisidiary SBI O&M signed the contract with a Middle
- OOIL could lose growth momentum in 2015
Hong Kong-listed Orient Overseas International (OOIL), the parent of Orient Overseas Container Line (OOCL), is estimated to lose its profit growth momentum in 2015 due to fewer deliveries of new tonnage, a research note of CIMB Securities said. "With fewer newbuildings left to deliver, it will be
- Manila acts to cut congestion in ports
As part of an ongoing bid to decongest Manila ports, the office of the president has cut port charges at Batangas, a statement on the website of the Philippines Port Authority said. There was no immediate confirmation on President Benigno Aquino's website. The move is to attract more direct callers
|AUGUST 20, 2014|
- New Orleans expanding intermodal terminal
The Port of New Orleans is revamping its Mississippi River Intermodal Terminal to the tune of $21 million after a bid was awarded to a Louisiana-based construction company.The Port of New Orleans is revamping its Mississippi River Intermodal Terminal to the tune of $21 million after a bid was awarded...
- Damco expects to end 2014 in red after big 2Q loss
Damco expects to end the year in the red after the logistics arm of Maersk Group lost $32 million in the second quarter, grappling with a restructuring effort and less forwarding business. Damco said the restructuring that began in 2013 has been trickier than anticipated, resulting in delays of productivity gains....
- 'Uber'-like truck, load-matching system being tested in NY-NJ market
Cargomatic is in a New York state of mind. The Venice, California-based firm is testing its "Uber"-like truck and shipment matching technology - currently offered in Southern California - in the tri-state trucking market of New York, northern New Jersey and Connecticut. "We are moving east," Brett Parker, chief operating officer...
- Maersk Lines' latest earnings show it pulling farther away from the pack
In reporting its second-quarter and first-half 2014 results this week, Maersk Line again showed how its financial fortunes are diverging from most of the rest of the container shipping industry. And Maersk is diverging in another way: Its outlook for the year is bullish, while those of other major carriers that...
- Air transport fears of Icelandic volcano eruption grow
There are increasing signs that an Icelandic volcano could erupt, potentially disrupting shippers transporting goods via the freighters and in the bellies of passenger planes - much like an eruption on the island did in 2010. Roughly 1,000 small earthquakes were detected in the vicinity of Baroarbunga, one of the northern...
- CKYH Alliance membership pays dividends for Evergreen
The cost benefits of Evergreen Marine joining the CKYH Alliance were reflected in its second-quarter earnings, which saw the Taipei-based carrier returning to profitability. Taiwan's largest container shipping line joined up with Cosco, "K" Line, Yang Ming and Hanjin Shipping in March just as it posted a first-quarter loss of $56...
- Expanded services boost container traffic at NC Port of Wilmington
Containers at the Port of Wilmington, North Carolina.The North Carolina State Ports Authority's fiscal year is off to a strong start its fiscal year is off to a strong start, thanks to increasing container volume at the Port of Wilmington resulting from carriers' service expansions. July container volumes at Wilmington were...
- Automakers, imports, housing starts boost US truck tonnage
Strong gains in factory output, especially automotive manufacturing, helped drive U.S. truck tonnage up in July, the American Trucking Associations said. The ATA For-Hire Truck Tonnage Index rose 1.3 percent in July from June, and 3.6 percent year-over-year. The trucking association's index supports claims by motor carrier executives such as Eric...
- Brazil approves $1.7 billion for port infrastructure
Brazilian waterways regulator Antaq approved $1.73 billion in upgrades for ports in Rio de Janeiro and Santos. BN Americas reported the plan will allow local steel company CSN to extend its port terminal concession contract in Rio de Janeiro, and will also extend Santos' port contract in São Paulo. Both contracts...
- Top container lines' capacity continues to rise
Overall capacity operated by the Top 21 container carriers increased 5.6 percent or 847,000 TEUs in the last 12 months, according to industry analyst Alphaliner's latest newsletter, furthering chronic overcapacity in the container shipping market. The Top 21 carriers, which control 86 percent of the total global liner capacity, received a...
- NOL doesn't deny, but downplays reports that APL Logistics is for sale
Neptune Orient Lines said Wednesday media reports that it plans to sell its logistics business, APL Logistics, for up to $900 million are "preliminary and exploratory in nature." Without specifically denying the reports, the shipping group said in a filing to the Singapore Exchange that there is "no assurance that any...
- TMW Systems, 3GTMS to blend asset-, non-asset transport software
Changing supply chains demand changing technology, and a more multimodal, integrated supply chain require a blend of asset- and non-asset-based transportation systems. That evolving demand led location-based technology firm Trimble and its TMW Systems subsidiary to partner with 3GTMS, which offers non-asset transportation management and optimization software. Trimble, a $2.3 billion company,...
- APMT's facility investments drove 2Q growth
APM Terminals saw volume and profit rise in its second quarter, thanks to some of its terminals becoming fully operational and the addition of new terminals in growth markets. The terminal operating division of Maersk Group reported container volume of 9.8 million TEUs in the April-to-June period, an increase of 8...
- China's largest port is also the largest in world
Shanghai port.For the first six years of The Journal of Commerce global container ports ranking, Hong Kong was king. When Singapore toppled Hong Kong in 2005, it began a five-year run at the top for the Southeast Asian giant. And now another juggernaut, Shanghai, has enjoyed a four-year run as...
- Backing the bond
Q: You've defended the new $75,000 bond requirement for motor carrier brokers in the past, and I disagree. I can assure you the bond hurts the small broker. I'm a commodity trader. We employ a lot of trucks, some through direct contact with the trucking company and others through brokers. I have...
- Arctic passage for ships: Slow going
The melting polar icecap is reheating ages-old dreams of cross-Arctic shortcuts for deep-draft ships sailing between the Atlantic and Pacific oceans. But logistics managers shouldn't count on it happening next year - or even in the next decade. The bulk carrier Nordic Orion grabbed headlines last September with a Vancouver-to-Finland voyage...
|AUGUST 20, 2014|
- Purge continues
IM Skaugen has agreed to sell another gas-carrier to one of its joint ventures under a broader bid to free up cash.
- Icemen cometh
What do Bill Gates, David Beckham, Justin Bieber and the chartering manager of Gemini Tankers have in common?
- Progress for Restis?
A long drawn out clash between Greek shipowner Victor Restis and US lobbying group United Against a Nuclear Iran (UANI) has once again bubbled to the surface.
- Star shuts off Eagle swoop
Star Bulk has ruled out the purchase of Eagle Bulk Shipping in the wake of its $634.91m move for Excel Maritime's fleet.
- RWE takes another
Greece's Diana Shipping has won another bulker charter from German company RWE.
- Coal terminal ditched
The construction of a coal terminal on the Columbia River in the US has been blocked by Oregon state regulators.
- Star shines in Q2
Star Bulk has reported a stronger than projected second quarter profit just 24 hours after the purchase of Excel Maritime.
- Marine Stars hits again
Bulk carrier Marine Stars hit a rock off the small island of Oinousses, Greece, yesterday - only two days after it ran aground in the Dardanelles, Turkey.
- Sungdong adds one
South Korean yard Sungdong has won an order for an LR1 tanker from an unnamed Asian owner.
- GasLog profit grows
GasLog has rounded off a busy second quarter by reporting an improved profit for the period.
- State to the rescue?
UK shipbuilder Ferguson, which entered administration last week, may be nationalised, according to Scottish finance secretary John Swinney.
- FMG prices VLOC order
Fortescue Metals Group paid $70m apiece for its second round of VLOC newbuildings placed at Yangzijiang Shipbuilding, it revealed today.
- Ananda turns owner
Bangladesh's Ananda Shipyard and Slipways is planning to charter out two boxships cancelled by their previous owners in 2010.
- Less profit for Vopak
Netherland's Vopak has recorded a 15% decrease in its profit as revenue remained almost unchanged in the first half of 2014.
- $100m for AOS
Offshore company AOS Cyprus has had a $100m debt facility underwritten by Investec Shipping and Marine Finance.
- Senior pirate busted
An important Somali pirate leader has been arrested by local security forces in the capital Mogadishu, African media report.
- Lukoil extracts crude
Russia's Lukoil has succeeded in loading its first cargo of crude from the new West Qurna-2 field in southern Iraq, despite the escalating violence in the country.
- Waiting over for Cecon
Norwegian owner Cecon's long wait has come to an end as the 10,000-dwt offshore support vessel Cecon Pride has completed its sea trials and will soon commence a 10-month contract.
- Pan Ocean arrest lifted
The high court of Singapore has rescinded the arrest of a Pan Ocean boxship held there since June 2013.
- Clarksons fills a hole
UK broker Clarksons has brought in Swire grandee James Hughes-Hallett as its new chairman.
- Condor buys Austal ferry
Australian shipbuilder Austal has finally succeeded in shifting a ferry built for stock that it has been marketing since 2010.
- NOL ponders sale
Singapore's Neptune Orient Lines (NOL) is plotting a potential sale of its logistics unit, but could also spin it off in an IPO.
- Nuclear comeback
The Russian government is planning to refurbish the 34,000-gt nuclear-powered LASH containership Sevmorput (built 1999) and return it to commercial service.
- Tallink extends charter
Estonian ferry owner and operator Tallink says it has extended the charter of its 30,285-gt ro-pax ferry Atlantic Vision (built 2002) to Marine Atlantic of St John's, Newfoundland.
- Karadeniz in Gaza relief
Turkish shipbuilder and energy producer Karadeniz Holdings will deploy one of its giant floating powerships to Gaza within the next three months.
|AUGUST 20, 2014|
- U.S. agencies conduct trade outreach in non-border states
Much of the support for free trade agreements - such as the multilateral Trans-Pacific Partnership and U.S.-European Union trade pact currently being negotiated - comes from states that export a lot to the U.S.' neighbors.
- STB to hold public rail service hearing
Representatives from CP and BNSF have been directed to attend, and the Surface Transportation Board has invited shippers and other carriers to deliver testimony, provided they file their intentions with the board by Aug. 25.
- Canada safety group releases Lac-Megantic findings
The group found that 18 factors, including improperly applied hand brakes, played a role in the accident. It also reported that the railroad had a "weak" culture of safety and did not conduct enough reviews of its safety systems.
- APL evaluating logistics business sale or IPO
NOL said it "continually evaluates all available options to improve the strategic positioning and performance of its businesses. These include considerations of a potential sale or initial public offering."
- Robots to soon help in airplane manufacturing
- UPS expands BC operations
- YRC Freight bestows DC status on three locations
- Hide and seek on the Oakland waterfront
|AUGUST 20, 2014|
- Crude climbs as US inventories decline
Supplies declined to 362.5 million barrels last week.
- Some thoughts on mass flow meters
If players think there will be a two-tier market as more MFMs are introduced, we have to ask why.
- Mid-week prices firm across Europe
Tight avails seen for HS product in Rotterdam.
- Prices generally soft in Fujairah
Markets mainly firm in South Africa.
- 'Surge' in demand in Black Sea port
Novorossiysk supplier has 'sold out all available prompt volumes'.
- ExxonMobil passes a million mt on metered deliveries
Company says majority of fuel delivered in Singapore is via mass flow metering.
- Buyers 'holding off' in expection of further price falls
'We are seeing really low demand amid ample supplies,' says South Korean player.
- High bunker prices cloud cruise sector's prospects
Fuel coasts could limit New Zealand's role as a cruise destination.
- ECA costs 'bad for business' at Canadian port
Expensive low sulphur bunker fuel means fewer cruise calls.
- Asian IFO market stays relatively flat
Smooth supplies reported across all key regional ports.
- Vopak remains in profit for H1
Period was characterised by stable demand for services, says CEO.
- Japanese firm wins tri-fuel engine supply contract
Vessel expected to provide 'excellent fuel efficiency', say systems provider.
- Maersk: Bunker consumption 'reduced significantly' in Q2
Savings help lift the forecast profit.
- German firms introduce modern LEG carrier
Vessel able to operate on HFO, MDO, gas oil, LNG, as well as ethylene.
- Vancouver fuel prices lack clear direction
Good avails reported at the Canadian West Coast port.