|NOVEMBER 6, 2015|
- Maersk Line lays off 4,000 staff and reduces capacity to tackle sagging demand
- CKYHE alliance winter services on Asia-North Europe and Mediterranean loops
- Hapag-Lloyd shares set to make debut today on Germany bourse
- US West Coast ports lose market share in September box volume
- Vancouver Port's railyard expansion to deal with larger ships
- Long Beach - 'greenest port in the world' thanks to clean diesel
- New service offers reliable port risk intelligence on demand
- ICoCA standards adopted by MAST
- Transport Corp. of India's Q2 profit surge 9pc despite flat revenue
- K + N to handle spare parts logistics for BMW in Germany
- UPS to invest heavily in upgrading and expanding infrastructure
- 17,000 FedEx staff gear up to handle record holiday season shipments
- Ukraine Air Alliance seeks permission to commence US cargo flights
|NOVEMBER 5, 2015|
- Global schedule reliability in Sept. at all-time high
- Maersk Line accelerates efficiency initiatives as response to market outlook
- MOL recognised by CDP as leader in climate change transparency
- Inland shipping port proposed at Jalore in Rajasthan
- JNPT invites EoI for setting up industrial units in upcoming Port-based SEZ
- JNPT observes Vigilance Awareness Week 2015
- Participants in GPIDCL's interactive workshop welcome its initiative to establish a world class maritime university in Gujarat
- Vigilance Awareness Week 2015 at Mumbai Port Trust
- Festive demand boosts truck rentals
- Cotton crop to fall by 12.25 lakh bales in 2015-16, estimates CAI
- INR drops further against dollar
|NOVEMBER 6, 2015|
- «People and benefits»
- Antwerp overtakes Hamburg
- Better roads for Kazakhstan
- Volga-Dnepr wins accolade in Moscow
- Cargo plane crash in South Sudan
- FCL on rails (almost) to Taiwan
- Silvasti sets foot in Russian market
- Tworty Box arrives on Hamburg quayside
- Options converted into firm Airbus orders
- On tour in Asia
- Wagon washing in Texas
- Pilot train to run between Austria and Germany
- Sita CEO to step down
- Hamburg Süd receives Hanse Globe award
- Massive downsizing at Maersk
- Spanish rail vehicles business in new hands
- Iata reports "very modest growth in September"
- New subsidiaries power up results in Singapore
- Flower and vegetable exporter snapped up
|NOVEMBER 5, 2015|
- Felixstowe port opens GBP60 million Berth 9 extension
Therese Coffey and Clemence Cheng open the Berth 9 extension. Credit: Port of FelixstoweDeputy Leader of the UK's House of Commons Therese Coffey today opened the 190 m quay extension that increases the port of Felixstowe's capability to work two of the world's largest container ships simultaneously. "An ever increasing proportion...
- Hanjin Shipping offloads 77% of H-Line stake
In yet another move to raise funds, Hanjin Shipping has sold most of its shares in H-Line Shipping, the entity to which it divested its bulk and LNG shipping businesses in 2014. Hanjin received KRW120.365 billion (USD105.7 million) from the sale and leaves it with just 5% equity. Hanjin kept a...
- Seatruck Ferries joins Irish Sea expansion drive
Seatruck Ferries, a wholly owned subsidiary of Clipper Group in Denmark and the Irish Sea freight specialist, will add a third vessel to its growing Liverpool Dublin route, commencing 17 November, the company said in a statement. "The additional midweek departures will provide much needed peak capacity on a route which...
- Nordic and Borealis form ice class stainless steel venture
Nordic Tankers vessel Sten Nordic. Credit: FotofliteNordic Tankers, the Copenhagen based chemical carrier group, and Borealis Maritime, the London-based shipping company, have formed a joint venture, Crystal Nordic, which is 50/50 owned by the two and that will operate 15 stainless steel ice class chemical carriers, Nordic Tankers said in...
- South Korea financial watchdog asks 17 banks to aid DSME
Seventeen commercial banks in South Korea have been asked by their industry's regulator to assist troubled shipbuilder Daewoo Shipbuilding & Marine Engineering. Following the unveiling of a KRW4.2 trillion rescue plan by Korea Development Bank and the Export-Import Bank of Korea, the Financial Supervisory Service called for a meeting with vice-presidents...
- Impact of expanded Panama Canal on VLGCs could be muted
VLGC Ronald N's AISLive track between Panama and the GulfEven if the expansion of the Panama Canal were to be completed, the impact on very large gas carriers may be less severe than expected. Out of the 160 or so VLGCs in the market, only four - Ronald N, Karoline N, Clipper...
- Maersk wants reform before investing in Indonesia port sector
Indonesia's Tanjung Priok port. Credit: IPCMaersk will not make a major forward asset investment in Indonesia's port or domestic shipping sector until the government addresses a range of investment concerns, according to the president director of Maersk Indonesia. "We are here as a service company at the moment and have...
- Jiangnan Shipyard clinches VLGC order
Shanghai-headquartered Jiangnan Shipyard has secured the order to construct an 84,000 m³ very large gas carrier (VLGC) with an option for another vessel from Athen-based Naftomar Shipping & Trading. The contract marked the first working relationship between Jiangnan Shipyard, a subsidiary of China State Shipbuilding Corporation (CSSC,) and Greece shipowner Naftomar. Jiangnan...
- Rickmers Trust Management back to profit for Q3
Singapore-listed Rickmers Trust Management (RTM) has returned to a net profit of USD8.9 million year on year for the third quarter ended 30 September 2015 from a loss of USD53 million in the same period last year. The profit was attributed to /RTM's high vessel-utilisation rate, a decrease in finance expenses,...
- MISC revenue up 14.9% on improved freight rates
Malaysia-listed shipping company MISC's revenue grew 14.9% on a year ago to MYR2.5 billion (USD585.2 million)in the third quarter of 2015, but the higher revenue only translated to a net profit of MYR504.1 million up 1% on a year ago. The surplus revenue, driven by the improved freight rates in...
|NOVEMBER 5, 2015|
- Blow to hi-tech shippers as China bans air charters for a month before Christmas
- Miami Airport community targets CEIV certification and global pharma hub ambitions
|NOVEMBER 5, 2015|
- VT Halter launches two ATB barges for Bouchard
- Judge sets deadline for filing El Faro claims
- Alphatron delivers first 46-inch display AlphaBridge
- AEU's Rob Stuardi appointed to key SCA committee
- Aker Philly facing higher costs, delivery delays
- Great Lakes bulker operator reports increased net
- Radio Holland and Bio-Sea partner on BWTS installation
|NOVEMBER 5, 2015|
- Federal Maritime Commission Oks final rule for OTI licensing
- CKYHE Alliance member lines plan to cancel nine voyages
- Matson posts numbers for third quarter, year-to-date
- International Trade Administration releases September export totals
- US rail freight traffic count down during month of October
|NOVEMBER 5, 2015|
- Glencore cuts global coal output
Cuts in Australia, South Africa, Colombia may impact already weak panamax market
- Tanker Investments shies from ship sales talk
Chief executive William Hung refuses to be drawn on timings, despite mounting interest in buying large tankers from the likes of Euronav
- The results round-up
Third quarter earnings stories from the maritime industry
- Teekay Corp posts third-quarter losses on weaker offshore and gas results
Energy shipping giant plagued by non-operational items but cash flows improve
- GasLog posts lower third-quarter profit
Swaps losses, higher operating costs and weak spot rates take their toll, but owner remains bullish on future
- ICTSI flagship takes delivery of four RTG cranes
Port operator continues upgrade of terminal equipment to avoid repeat of 2014 congestion chaos
- Elektrans watches dry bulk sector as it adds suezmax
Indian owner mulling dry bulk expansion as third tanker joins fleet
- Hanjin Shipping records third-quarter profit amid soft freight rates
Cost-saving efforts and forex gains bolster bottom line
- Aker Philadelphia Shipyard pushes back delivery dates
Yard posts quarterly profit boosted by vessel sales
- Tanker Investments fails to impress
Six new suezmaxes in the fleet did not make their mark in the quarter
- Damen participates in Rotterdam port startup initiative
Programme will be launched in March 2016
|NOVEMBER 5, 2015|
- ODFL sees 'tremendous opportunities' for U.S., overseas growth
ODFL CEO David Congdon rededicates the company's renovated headquarters. Photo courtesy ODFL. THOMASVILLE, NORTH CAROLINA - Old Dominion Freight Line understands utilization, not just of tractors, trailers and containers, but terminals, warehouses and office space. The less-than-truckload carrier rededicated a completely rebuilt corporate headquarters here yesterday, creating 300 new workspaces, a
- Brazil government working to stop trucker strike
The government of Brazil is scrambling to block a strike planned by independent truck drivers for Monday. Drivers want a reduction in the taxation of diesel fuel and the scrapping of fines imposed on them for the previous strike and "spontaneous roadblocks" carried out during a two-week period back in February....
- ILWU office clerks sign contracts with some employers months before deadline
In an abrupt change of events that could lead to labor peace among office clerical workers in Southern California for the next five years, the president of International Longshore and Warehouse Union Local 63 Office Clerical Unit said Thursday he signed individual contracts with three employers, and he has presented...
- US House bill would trigger federal intervention in port slowdowns
WASHINGTON - A year after acrimonious labor negotiations snarled traffic at U.S. West Coast ports, lawmakers have unveiled draft legislation that could trigger federal intervention to head off future slowdowns. Rep. Kurt Schrader, D-Ore., and Rep. Dan Newhouse, R-Wash., on Thursday introduced the bipartisan Ensuring Continued Operations and No Other Major...
- Orbcomm swings to profit on doubling of revenue
OG2 satellites used by Orbcomm to track assets. Credit: Sierra Nevada CorporationOrbcomm swung to a $1.6 million profit in the third quarter after the asset-tracking provider's revenue doubled to $46 million on growth from acquisitions and organic gains. The Rochelle Park, New Jersey-based company said its organic business rose 33 percent...
- US trucking industry wins one battle in Congressl, loses another
WASHINGTON - The U.S. trucking industry won one battle, but lost another in Congress this week. Lawmakers in the House of Representatives passed legislation that cleared the way for teenage truck drivers after killing an effort to increase current limits on truck weight. In a 181-248 vote Wednesday, the lower chamber...
- Six-year US highway bill advances but without funding
WASHINGTON - U.S. lawmakers took a serious step closer to a multi-year highway funding bill Thursday after the House of Representatives passed a six-year, $325 billion bill. In a 363-64 vote, House legislators passed the Surface Transportation Reauthorization and Reform Act, or STRR. The legislation authorizes highway funding for the next...
- Port Metro Vancouver CEO says drayage conditions improving despite tension
Renewed flare-ups of drayage driver discontent at Port Metro Vancouver have revived concerns that trucker disruption could return to the port despite moves taken to quell unrest. The British Columbia provincial government has said that six trucking companies have failed to follow drayage wages set by the Container Trucking Commission while...
- USMX: Legislation to change labor negotiations unnecessary
NEWTON, Massachusetts - The contract negotiation process between the International Longshoremen's Association on the East and Gulf coasts and management is on firm footing and in need of no change, according to Tom Simmers, executive president of United States Maritime Alliance. Rebutting calls for changes to the negotiation process - including through...
- 2016 shaping up as a turnkey year in Asia-Europe trade
When Maersk Group in late October pinned all of the blame for slashing its 2015 profit outlook on a deteriorating container shipping market, it highlighted the depths of a crisis in the Asia-Europe trade ahead of what can only be called a make-or-break year for the world's largest shipping market....
|NOVEMBER 5, 2015|
- Genco reports third quarter loss
The Peter Georgiopoulos-led bulker operator wrestles with weak freight rates.
- Twin killing as move shutters Teekay arm
Gemini Tankers pool to dissolve after partner Diamond S elects to operate its own fleet.
- Crude export dock for Quebec halted
TransCanada bows to environmental concerns and halts one of two export terminals.
- TIL to stick to spot market for strong winter
Executives see no more acquisitions ahead but look to return cash to shareholders.
- TIL seeks damages over NYK VLCC collision
Teekay spinoff says it will pursue payment for vessel repairs and other costs over incident at Fujairah.
- Rand Logistics reports gain in third quarter
The Great Lakes bulker operator beats estimates despite currency woes.
- Scorpio sees Tier III tail-off in newbuilds
Bugbee expects ordering to slow down while Lauro has a warm feeling for the winter market.
- GSL posts net loss
Impairment charges related to two ships take a toll on containership owner's Q3 bottom line.
- NCL to issue new debt
The private notes offering will be used to replace older debt and for share buybacks.
- DVB braces for more shipping loan losses
Frankfurt-based transport bank hikes credit loss provision amid 'burdensome' macro picture.
- Seamec seals Swiber charter
Indian owner's diving support ship to earn $17m over 142 days off Mumbai.
- GasLog slides in third
Peter Livanos-backed company sees profit squeezed between July and September; extends charter contract.
- Fredriksen Group stays silent on Lunder
Key Fredriksen aide declines to talk about chief executive's arrest at Gardermoen airport.
- Coscol cans share issue
Cosco unit halts plan to raise $394m due to uncertainty over parent's merger with CSG.
- CSAV stake cut
Chilean owner books $84m dilution loss in partner Hapag-Lloyd's IPO.
- TIL shares slump after earnings miss
Analysts suggest asset sales and buybacks are required as tanker owner's stock struggles.
- FSL books four-fold rise in bottom line
Highest quarterly revenue in two years drives improved results at Singaporean Trust.
- Maersk cuts Chinese surcharges
Danish line simplifies fees system in Asia due to weak state of the market.
- Cyprus Sea scraps two
Greek owner sends two 1990s-built panamax bulkers for demolition.
- Fredriksen Group chief Lunder arrested
Jo Lunder, the new chief executive of John Fredriksen's group of companies, has been detained in Norway.
- KNOP makes less
New York-listed shuttle tanker owner posts smaller profit in Q3 despite bigger revenue.
- TNG profit rises
New Croatian tanker owner sees Q3 earnings and revenue grow as fleet expands.
- Nordic Tankers and Borealis team up
Chemical tanker owners join forces to create new venture Crystal Nordic with a fleet of 15 ships.
- Savings pay off for Hanjin Shipping
Korean owner's cost-cutting boosts Q3 profit, but boxship earnings fall on over-capacity.
- Great Eastern fixes out suezmax
Indian owner clinches two-year charter with IOC for 2000-built tanker.
- Teekay Corp weaker in Q3
Diversified shipowner slips to a loss as Teekay LNG and Teekay Offshore fail to impress.
- Four more for Seatrade
Dutch owner's orderbook reaches potential 20 ships with reefer deal in China; more on the cards.
- TNK misses estimates
New York-listed tanker owner gets Principal boost during Q3 but fails to exceed the market's expectations.
- EMGS in cash call
Oslo-listed survey player wants investors to buy new stock worth up to $32.5m to boost finances.
- Record rates drive Avance
Oslo-listed owner posts $73m profit in Q3 as VLGC numbers hit all-time high.
- Chouest cancels AHTS duo
Broker says US owner's decision comes after Shell halted Alaskan operations.
- Delays cut TIL earnings
Problems securing new vetting approvals for ex-George Economou tankers dragged down results.
- Naftomar books Jiangnan VLGCs
Chinese shipbuilder adds to LPG newbuilding orderbook backlog with order from Greek shipowner.
- Rickmers shares slump
Investors vote with their feet and dump stock following announcement of dividend suspension.
- Matson reports strong third-quarter result
Liner operator sees growth in China trade, and newly added Alaska service also grows.
|NOVEMBER 5, 2015|
- Report: Consumers unforgiving of holiday fulfillment errors
- Seatrade orders four new multipurpose reefer ships
- ICTSI reports solid Q3 results
- IANA: Q3 intermodal volumes up 3.4%
- CEVA signs warehouse management contract with Pellegrini
- Union Pacific opens new railport in Texas
- American Essentials taps Port Logistics Group for transportation services
- Yusen opens warehouse in Indonesia
- Executive Moves: CenterPoint Properties and ICTSI
- XPO Logistics exceeds Q3 market expectations
|NOVEMBER 5, 2015|
- Corvus attracts more investment
Battery supplier says main interest is from maritime companies.
- Singapore fuel oil inventories at four-month low
Stocks are expected to fall further in the weeks ahead.
- Firm Counter adds networking tool
Trading website aims to build 'a community of bunker professionals', says chief executive.
- US residual stocks climb
The week-on-week rise in stocks came despite a fall in production from US refineries.
- Meech: No growth in bunker demand despite low prices
Thinks demand is softening this year and predicts low oil prices and slow demand growth in coming decade.
- Algoma post weaker profits
Weaker demand for shipments eating into revenue.
- Second LNG-fuelled OSV starts work
Vessel chartered to Shell for US Gulf operations.
- Supplier: Biofuels to form 5-10% of global marine fuel mix by 2030
'It ticks so many boxes for so many organisations,' says GoodFuels CEO.
- Teekay Tankers boosts profit
'Increased earnings, as bunker fuel prices remain low due to low global oil prices', it says.
- Second LNG-fuelled OSV starts operations
Vessel chartered by Shell for use at the Gulf of Mexico.
- Global sulphur cap: 'Politics may overrule science' at IMO
Also concern that those responsible for the availability study lack experience in refinery analysis.
- Crude decreases as US stockpiles rise
Stockpiles rose 2.85 million barrels last week.
- World's 'first' LNG-powered boxship transits Panama Canal
Panama Canal expansion expected to be open in 2016.