|MARCH 27, 2014|
- Cosco Pacific profit up 2.1pc to US$286.2 million as sales rise 8.6pc
- Hapag-Lloyd narrows loss 32.6pc while increasing operating profit 156pc
- CSAV shareholders, opposing Hapag Lloyd merger have one month to decide
- Mega ships are the future, but at the price of overcapacity: top MOL man
- Savannah posts 6.2pc quarterly volume increase to two million TEU
- River port throughput volume makes Suzhou fifth largest in China
- Kazakhstani currency devaluation impacts on China's exports
- LNG sector pays big money to savvy sea officers to work as shipmanagers
- BNSF ready to hire 5,000 workers as railway's crude oil business booms
- EU, development bank lend US$137 million for South African infrastructure
- DNV GL opens new Vietnam office to support growth plans
- Gansu Wuwei city builds first bonded logistics centre in Hexi Corridor
- Chengdu Airport Bonded Logistics Centre soon to be operational
- Changi air cargo off in first two months, slight uptick in passengers
- Southwest Airlines Cargo wins ACE Diamond Award once more
|MARCH 26, 2014|
- CSAV shareholders approve merger with Hapag-Lloyd
- Hinterland connectivity seen as a challenge at African ports
- Sravan Shipping MD gets 'Skoch Achieve Award - 2014'
- Export of dairy products may get SMP boost
- Russia to restrict car imports
- MANSA's Executive Committee felicitates N. N. Kumar on his appointment as JN Port Chairman
- MOL (India) expands & upgrades warehousing services
- BHEL awards 40-m euro order to Alstom
- Exports likely to fall short of fiscal target: Anand Sharma
- INR forges ahead on increased dollar selling
|MARCH 27, 2014|
- Samskip Multimodal expands fleet
- Hapag-Lloyd: 2013 ultimately disappointing
- Etihad Rail and DB Schenker Rail create JV
- Lufthansa Cargo plans leap in profits this year
- Martin Bencher present in Norway
- Eurotunnel celebrates 20 millionth truck in 20 years
- Japan Airlines and JAL Express agree on merger
- Agility reports net improvements
- Cosco's annual profit more than doubles
- Management board member for sales remaining in office
- Belgian project cargo between France and Netherlands
- Embraer outsources spare parts logistics
- Gebrüder Weiss reports slight turnover increase
- Liberia authorises Croatia's shipping registry
- Air Partner looking for new CFO
|MARCH 26, 2014|
- New heavy lift deck cargo barge for Gray Barge
- Unified Command issues update on Texas spill response
- Bail for 33 of Seaman Guard Ohio 35
- SSI adds enhancements to ShipConstructor
- Oceanteam and Diavaz form new company
- Virgin Group plans cruise ship venture
- MTU introduces new marine genset
|MARCH 26, 2014|
- Vancouver, USA Port Commission sees results from derailment study
- Vancouver Fraser port board names Kwan as vice chairman
- Some parking charges going up at Portland International Airport
- Cooperation memorandum inked to boost Russian/Japanese grain trade
- Horizon Lines releases fiscal fourth quarter numbers
|MARCH 26, 2014|
- CIT provides $46.4m senior loan to Epic Gas
Money will help finance gas carrier fleet buy
- Crimea switches to Russian legal code
Move could impact hearings on expropriated ports and oil company
- Lithuania petitions US for easier access to LNG
Crimea crisis puts spotlight on US LNG again as senate debates exports and European energy security
- Houston Ship Channel delays have a limited impact on the VLGC market
Channel closure too brief to make a significant difference on vessel movements
- The UK needs more seafarers, warn MPs
Chamber of Shipping, Nautilus and RMT welcome transport committee report
- CIMC posts a 21% dip in profits
UPDATE: world's biggest container manufacturer says four-year diversification drive has been a success
- Smart money moves to chemical tanker market
General Maritime's entry into specialist trades could be a well-timed investment
- Hapag-Lloyd aims to improve 2014 rates, volumes and operating earnings
Throughput growth may lag behind increase in supply, warns German carrier
- China Shipping Container Lines losses triple in 2013
Company says that imbalance between supply and demand will not improve in short term
- Transpacific rates slip as contract renewal date looms
Eastbound spot prices fall 5% after brief rally
- Sesoda Steamship books a seventh Japan-built handysize bulker
Taiwanese carrier books 33,000 dwt ship at Shin Kurushima Dockyard for $25m
- Sinotrans Shipping gets asset injection from deals worth $138m
Firm takes major stakes in chartering and containership units and four 1,100 teu vessels
- A hundred ships queue despite part-reopening of Houston Ship Channel
Bottleneck develops at southern US oil hub after weekend oil spill
- Containership fined for spilling oil into Tauranga harbour
New Zealand tells Jule to pay $26,000 after Liloa discharged a harmful substance
- JP Morgan Asset Management invests $138m in Noatum Valencia terminal
Move is a vote of confidence in Spain's economic recovery, says infrastructure chief
- Australian tanker searches for missing Malaysian Airlines flight MH370
Vessel-tracking data shows ships sail to southern Indian Ocean to look for lost aircraft
- Behrendt disappointed as Hapag-Lloyd posts a net loss
German line sees better operating profit but chairman hits out at irrational pricing
|MARCH 26, 2014|
- Lagos vows to get tough on wrecks
Lagos state governor Babatunde Fashola has vowed to prosecute owners of abandoned ships littering the Nigerian city's shores
- Gdansk yard given more time
Poland's government-owned Industrial Development Agency (ARP) has said that it is prepared to give the Gdansk shipyard until June this year to get its finances in order
- Luka Koper Joins blue-chip index
The Ljubljana Stock Exchange (LJSE) has said it will add Slovenia's only sea port operator Luka Koper to its blue-chip index SBITOP
- Kistefos launches bid to acquire Transatlantic
Kistefos AS has acquired additional shares in Rederi AB Transatlantic, the Swedish offshore services and industrial shipping group, which has triggered the rules on a mandatory public offer to acquire all the shares in the company
- SNCM seafarers strike to avoid receivership
Sailings to Corsica and North Africa by French Mediterranean ferry company SNCM were brought to a standstill today (26 March) as seafarers went on strike in an attempt to prevent the company being put into receivership
- Penglai Zhongbai secures Laskaridis Kamsarmax options
Penglai Zhongbai Jinglu Ship Industry has secured an order for two Kamsarmax bulker options from returning customer Greek shipowner Laskaridis
- Hapag racks up more losses
German container line Hapag-Lloyd managed to improve its operating results last year, but not enough to reach break-even levels after tax
- Police put heat on reefer crime ring
Port police in Port Louis, Mauritius, today (26 March), arrested seven men accused of stealing high-value frozen cargo from containers awaiting transhipment
- DVB books €110M profit
German shipping and transport lender DVB Bank yesterday (25 March) posted a robust set of results for 2013, despite continuing pressure in the shipping sector
- Qingdao Yangfan secures order for six Trafigura Capes
Chinese shipyard Qingdao Yangfan Shipbuilding has secured an order for six Capesize bulkers from international commodity trader Trafigura
|MARCH 26, 2014|
- Vancouver Port Defends Action Plan for Harbor Trucking
While striking truck drivers in Vancouver waited to hear if the British Columbia legislature will approve a back-to-work bill, the port authority today issued a defense of a 14-point action plan it believes will permanently improve working conditions in the harbor. "We are ready to move ahead with the initiatives outlined...
- Waterfront Commission OKs 150 ILA Slots
The Waterfront Commission of New York Harbor has authorized New York-New Jersey port employers to hire 150 additional longshoremen. The newly authorized group is in addition to 150 longshoremen and 75 checker positions the commission previously approved as part of a multiphase hiring program. The New York Shipping Association and the International...
- Alan Gersten, Former JOC Writer, Dies
Alan Gersten, who covered maritime and insurance news for the JOC in the 1990s during a long and varied career as a journalist and author, died March 17 from complications of leukemia. He was 72. Gersten was author of the 2001 non-fiction book "A Conspiracy of Indifference: The Raoul Wallenberg Story,"...
- FMC Considering More Business-Friendly OTI Rules
WASHINGTON - Federal Maritime Commission Chairman Mario Cordero told Congress today that commissioners were reviewing a memorandum that mitigates some of the shipping industry's concerns with the agency's proposed overhaul of ocean transportation intermediary rules. Cordero's statement came after Rep. Duncan Hunter, the California Republican who chairs the House Coast Guard...
- East Coast Port Volumes Edged Up 1.6 Percent in 2013
Port of Halifax, Nova Scotia.The volume of all containers handled by U.S. and Canadian East Coast ports in the fourth quarter of 2013 increased by 4.4 percent year-over-year to 4.2 million 20-foot-equivalent units, according to port-published data collected by the JOC. Container volumes rose at most North American East Coast ports...
- Extreme Winter Chills Universal Truckload Earnings
Heavy snow and frigid temperatures in the first months of 2013 chilled earnings at Universal Truckload Services. The Warren, Mich.-based trucking operator is lowering its projected earnings per share for the first quarter by 9 to 13 cents. The company said it expects total operating revenues in the range of $273...
- Hapag-Lloyd Optimistic as Loss Narrows
Hapag-Lloyd predicted a "much better" outlook for liner shipping today as it posted a smaller net loss and bigger operating profit for 2013. The German ocean carrier made an operating profit of '67.2 million ($92.7 million), an improvement of €41 million ($56.6 million) on 2012, as increased container traffic, lower costs...
- CONECT Conference Speakers Foresee an Unpredictable Year in Trade and Transportation
The 18th Annual Northeast Trade & Transportation Conference, hosted by the Coalition of New England Companies for Trade (CONECT) April 1-3 at the Hyatt Regency in Newport, RI, will offer attendees a balanced perspective from industry experts on critical issues in trade, regulation, and transportation. Transportation-related panels will focus on crucial...
- Top 25 LTL Carriers: What the Data Tells Us
Revenue rose 3.9 percent at the 25 largest U.S. less-than-truckload carriers in 2013, hitting to $29.5 billion in 2013, as the segment continued its long, slow recovery from a disastrous 2009, when the LTL group lost nearly 25 percent of its revenue. See what else the full-year data tells us...
- Container Shipping's Supply-Demand Gap Is Narrowing
Container shipping supply and demand will become "finely balanced" this year, which will help carriers improve profitability, according to investment firm Jefferies. Supply Growth Forecasts Cut Global container ship scrapping has grown since 2011. Full-size image Part of the reason is an acceleration in the pace of scrapping, Jefferies said. In 2013, 460,000 TEUs...
- Preserving the Cold Chain
Paul Esposito, executive vice president of corporate affairs for the temperature-controlled freight service provider Railex, and Jason Pollak, the company's director of marketing, discuss the key concerns in shipping cold chain products and common mistakes business make. Their conversation will continue on April 3, in our free webcast, "Shipping Perishables Coast-to Coast:...
- Misdeclared Cargo on the Rise
While there was a rise in the number of cargo fires reported in 2013, nearly half of all incidents and problems that disrupted container lines' operations cited misdeclaration of cargo, an almost fivefold increase from 2012, according to the Cargo Incident Notification System database. Misdeclarations made up nearly half of all...
- Revenue Growth at LTL Truckers Drops But Outlook Brightens
The less-than-truckload industry is finally close to recovering revenue lost in the Great Recession, with the biggest LTL carriers already matching pre-recession sales. Progress in 2013 was painfully slow, however, as the 25 largest U.S. LTL trucking companies raised their combined revenue just 3.9 percent to $29.5 billion, according to The...
- India's Kandla Port Scraps Container Terminal Bid
The Kandla Port Trust has canceled a global tender to build and operate its long-planned mega container terminal project, dealing a serious blow to India's port privatization program. The decision was made by the KPT board last week after the two pre-qualified bidders - domestic port developer Adani Group and Hyundai Engineering-Concast...
|MARCH 26, 2014|
- China's ore-hungry week
This week is on pace to see a total of 30 fixtures for iron ore journeys to China, making it the eighth straight week with more than 20 charters for the trade, Commodore Research said today.
- Carnival ship rescues migrants
A Carnival Cruise Lines vessel has rescued 41 migrants on an overloaded boat in the Florida Straits.
- Four Wood in loan drive
A fund fronted by former shipping bankers and a Greek owner with its eye on funding second hand vessels is looking to list on the New York Stock Exchange.
- SALT shakes out capes
New York-listed Scorpio Bulkers (SALT) is poised to confirm it has acquired five capesize bulker resales at Korean shipyards, market sources say.
- IMB warns of scam
Ship owners are being warned to beware of an elaborate scam by gangsters to part them from millions in cash.
- Scanship seeks IPO
Norwegian ship technology company Scanship Holding is looking to complete an initial public offering (IPO) in Oslo.
- ORIG ties up $500m
George Economou's Ocean Rig (ORIG) is close to refinancing $500m worth of bond debt on more favourable terms.
- AdvanFort crew bailed
All but two of the 35 crew and guards of a US vessel detained in India last year in a row over weapons are to be released on bail.
- Seaspan back for more
Seaspan has launched its fourth fund-raising effort in five months.
- Bumi eyes $450m
Malaysian offshore vessel owner and FPSO specialist Bumi Armada has unveiled plans for an Islamic Bond programme.
- Paper back
Improvements in the physical dry cargo market have led to a boom in paper trading, Freight Investor Services (FIS) says.
- CSCL books deep loss
China Shipping Container Lines (CSCL) has confirmed a deep loss in 2013 in line with a warning issued in January.
- Oceanteam enters Mexico
Dutch subsea outfit Oceanteam will take a 40% stake in a joint venture with Mexican oil services firm Diavaz.
- Hapag remains red
Hapag-Lloyd remained in the red in 2013 as improved volumes could not overcome weak rates.
- GTT plugs LNG barge
GTT North America (GTTNA) has received approval in principle from ABS for the design of a membrane-type push LNG bunker barge.
- Vallianz seeks SGD 100m
Vallianz Holdings is looking to raise SGD 100m ($79m) from a short-term bond issue, the company has announced.
- Wintermar ends on a high
Indonesia's Wintermar Offshore Marine has ended the year on a high with a 34% jump in full year profit.
- Hedland eyes expansion
Port Hedland Port Authority (PHPA) is said to be considering proposals to expand iron ore export capacity.
- Stolt worried about PE
Stolt-Nielsen has become the latest shipowner to express concerns about the involvement of private equity in shipping.
- China steel output flat
World's largest producer saw little or no growth in production levels in February.
|MARCH 26, 2014|
- ILA: Lack of workers at NY/NJ port a safety issue
At a waterfront rally Tuesday, the president of the International Longshoremen's Association along with several business leaders and government officials called for limiting the power of the Waterfront Commission of New York Harbor.
- DOJ sues Con-way over uniformed-employee rights
The U.S. Department of Justice filed a lawsuit Monday against Con-way Freight, saying the company violated the Uniformed Services Employment and Reemployment Rights Act. Con-way has denied the allegations.
- 2014 'bleak' for container carriers
This year's outlook for the container shipping industry is "bleak" and publicly-listed global container shipping companies "face a greater risk of financial distress, including possible bankruptcy, than at any time since 2010," according to the global business-advisory firm AlixPartners, which Tuesday released a new study titled "Change on the Horizon: The 2014 Container Shipping Outlook."
- Sen. Boxer: Delay award until WRDA bill succeeds
Sen. Barbara Boxer and Rep. Bill Shuster on Tuesday deferred accepting their "Port Person of the Year" awards until the new version of the Water Resources Development Act is passed.
- Ex-Im Bank bond maintains Brazilian airline, Delta TechOps deal
- Hapag-Lloyd: Net loss in 2013, but outlook 'much better' for liner shipping
- COSCO Pacific earnings rise in 2013
- Canadian carrier uses drones to check ice conditions
Fednav said it is the first shipping company to use drones to check ice conditions on the water during a commercial voyage, using video-equipped drones to scout ahead of the vessel in the Labrador Coast.
- Port of Houston reopens to vessel traffic
- Executive moves
|MARCH 26, 2014|
- Hapag-Lloyd's 2013 revenue down 4%
Blames 'weak US dollar' for 'disappointing' results.
- Price outlook mixed across European ports
Rotterdam main grade material stays soft.
- Spain threatend Gibraltar bunker company with 'sanctions'
Gibraltar-based bunker company was asked 'to cease activities'.
- Fujairah market sees tight avails
Bunker prices showed little movement in Middle East hub.
- Shell puts LNG fuelling projects 'on hold'
'We want to do the right thing at the right time in the right place.'
- LNG barge gets US approval
Approval in principle given by class.
- Flouting ECA rules could be 'cost-effective'
Enforcement of sulphur restrictions in European ECAs is likely be 'inconsistent and ineffectual'.
- Carnival books first quarter loss
Fuel futures dent cruise operator's performance.
- Bunker prices fall in Asian ports
Limited avails in Tokyo Bay.
- Experienced bunker broker joins Glander International
Rosalind Liu Qi will be based at the firm's Singapore office.
- 'Eco' ship advantages 'exaggerated', says CEO
All ships are getting more efficient, says Mats Berglund.
- Hybrid-powered fishing trawler delivered
Hybrid set-up 'can cut emissions and save fuel'.
- Carnival embraces scrubbers
Aiming to install equipment on 20 liners by end of 2015.
- P3 clears air on bunker contract negotiations
P3 Alliance issues revised contract clause for negotiations.
- Official confirms details of Hong Kong fuel switch regulation
Revised proposal closely aligned with EU 'at berth' low sulphur fuel regulation; non-compliance could lead to fines and imprisonment.