|MAY 17, 2017|
- Zim narrows quarterly loss to US$6.4 million from $56.3 million
- Savannah handles 10,000 TEU working 13,092-TEU Cosco Development
- International Chamber of Shipping seeks 50pc CO2 emission cut in 2050
- DHL quarterly profit up 0.3pc to US$732 million, all business segments up
- Agility Q1 profit up 11.1pc to US$47.9 million as sales rise 7.3pc
- Hamburg port's quarterly earnings rise 34pc to US$26.67 million
- 'K' Line to merge ship management units into new division
- Adani to open new container terminal at Ennore port by mid-June
- DHL tries out new tech to make for a speedier, safer warehouse
- DHL Global Forwarding to open hub in Stuttgart to tap China rail
- UN consultative group backs zero-emission global warming aims
- Lars Jensen warns carriers of falling into One Touch ecommerce trap
- Air cargo operators quit Brussels after noise pollution fines hit
- Emirates profit falls 70pc to US$670 million as revenues rise 2pc
- IAG Cargo adds low cost airline LEVEL to its freighter fleet
|MAY 16, 2017|
- FFFAI highlights working problems with ICEGATE & related issues in representation to CBEC Chairperson
- Implementing international regulations to promote maritime safety, security & improved working conditions stressed
- NCHAA to organise GST meet in Noida after GSTC meeting in Srinagar
- Regional centre promoting ship energy-efficiency technologies & operations launched
- Ryal Logistics Pvt. Ltd - Going strong at 20
- Smaller vessels will see freight rate recovery in LPG segment, says analysis
- Exports continue to surge, up 20 pc in April 2017
- V.O. Chidambaranar Port's coal handling capacity to see four-fold increase
- Multimodal logistics park to come up near Kamarajar Port
- Economic outlook survey projects GDP growth of 7.4 pc for 2017-18
- CBDT simplifies linking PAN with Aadhaar
|MAY 17, 2017|
- Another world
- Certification - but how?
- TIR to boost transport along Belt and Road route
- New site in Romania opens for business
- Panama Canal sees transits soar in April
- 455 measures to improve rail network
- Honours for Air Canada's CFO today
- Logwin opens up near Perth
- Leadership change at Unilode (formerly Chep)
- K Line merging affiliates
- Funds for building Australia's inland rail
- Canadian North resumes regional routes
- "Heavy" takeover in Philadelphia
- Best "smart port" information systems in Marseille
- ECS welcomes Oman Air Cargo in Benelux region
- Dropping anchor in Algeciras
- China and Pakistan to modernise rail link
|MAY 16, 2017|
- Port State Control agreement to tighten check on sub-standard ships
- Lauritzen's outlook remains unchanged as markets show signs of recovery
- Shanghai's new IMO-EU centre aims to tackle regional ship emissions
- IRClass targets Southeast Asia with a view on quality
- Thoresen Thai Agencies restores profitability
- Avance Gas sees another year of challenge ahead after 1Q17 loss
- Samsung HI resumes work, except accident scene
- Beyond Q1 losses, ASL Marine expects weak demand ahead
- POSH ups claim to USD11.3 million in OSV charter dispute with Makamin
- NYSHEX portal to enforce shipper-liner contracts
- Profits for SM Group's shipping entities
- Cargill, Navios purchase bulk carriers amid rising prices
- Corporate governance scorecard: Kirby best, DryShips worst
|MAY 16, 2017|
- The Hanjin effect: improved first-quarter may be the turning point for HMM
- Smoother sailing for carriers with higher Asia-Europe contract freight rates
- Top passenger airport Atlanta invests heavily to boost its cargo credentials
- 'Trade drives progress' says IRU, with TIR crucial to Belt & Road initiative
- OOCL grabs the crown as its 21,413 teu behemoth takes to the seas
- Start-up the Airbnb of warehouses, with Amazon in its sights
- Another day, another disruptor. Flexe is the Airbnb of warehousing. In fewer than five years, ...
- Amazon's grand plan to eat the world
|MAY 16, 2017|
- Yard Talk | How are shipbuilders making money again?
Major listed yards in China and South Korea enjoy profitability in January-March
- Suicide rates at sea have more than tripled in a year
More than one in seven deaths on vessels were suicides - and social media may be the cause, according to UK P&I Club
- Results Round-up
Tankers look for bright spot in a challenging first quarter as dry bulk owners see mixed fortunes
- GulfMark to file for Chapter 11
Offshore outfit looks to slash more than $500m of debt as noteholders agree reduction in note payments in exchange for future equity
- Major task ahead for lines amid new influx of ULCs
Drewry highlights the risk of yet more big ships entering the major trades
- Absence of one-off gains cuts Pan Ocean profit
South Korean dry bulk owner stays in the black and has high hopes for 2017
- Equity markets take dim view of box shipping prospects
Overcapacity and competition lead to bearish outlook for liner companies, conference told
- Fresh coal cargoes fail to stem supramax bulker slide
Despite overall fall, spot deal reported at $20,000 per day from Colombia to Chile
- Avance Gas looks beyond losses to hopes of a better 2018
Focus is now on maintaining operational efficiency, reducing costs and preserving strong liquidity position and balance sheet
- Success of new alliances too early to call
BIMCO analyst says meaningful judgements cannot be made until at least 2018
- Cosco Shipping poised to launch investment fund
As well as financing newbuildings and secondhand tonnage, venture will also focus on distressed shipping assets, restructuring and securitisation deals
- Distressed debt investor linked to HSH Nordbank bid
Cerberus eyes German lender's non-performing loans
- Navios Acquisition posts lower first-quarter profits
Angeliki Frangou says fleet scored 42% higher rates than tanker spot market
- Offen rules out boxship orders amid continued overcapacity threat
Huge volume of new boxship deliveries in the coming years could make fragile recovery stillborn, say industry experts
- Eight-day strike to hit Spanish ports
Go-slows in major ports have already begun as unions protest labour reforms
- Box shipping recovery relies on ordering restraint, owners told
Shipyard overcapacity remains a threat to stability, says James Frew
- Torm posts small first-quarter profit
Danish tanker operator confirmed sales of three ships built in the early 2000s
- J. Lauritzen's owner injects capital as loss widens
Market remains challenging despite improving dry bulk rates, says chief executive
- Further consolidation likely if box line balance sheets not repaired
Carriers cannot afford another extended period without profitability
- World box traffic surged 10% in first quarter
Intra-regional trade was the primary driver of growth, with volumes up 17%, versus 7% for deepsea traffic, CTS preliminary data shows
- HMM seeks handling fees review with PSA at Hyundai Pusan Newport Terminal
Shipping line says it pays higher fees compared with other carriers using terminals in the port
- Settlement deal reached with most of the Stellar Daisy seafarers' families
Polaris Shipping says it will continue the search for the 22 missing crew members to the best of its ability
- Thoresen Shipping back in the black on BDI recovery
Group's average TCE rate in the first quarter stood at $7,015 per day, an 87% rise from the year-ago period
- GasLog Partners raises $139m from unit offering
Net proceeds to go toward asset buys, debt repayment, capital expenditure and working capital
|MAY 16, 2017|
- Two-day strike disrupts Brazilian ports
- KCS plans summer track maintenance
- LA, GE launch 'smart' terminal to better handle surges
- Rising market fails to lift stocks of Japanese carriers
- LA-LB truck turn times stable amid new alliances
- ILA leader sees no 'hiccup' on longshore negotiations
- Rickmers Maritime fleet sale court case postponed
- Productivity progress accelerates at India's top port
- Poor rolling stock hampers Russian rail utilization
- Spanish dockworkers to strike again over labor reforms
- US shipping unit weighs on Sumitomo Warehouse earnings
- Mexican Pacific coast competition intensifies
|MAY 16, 2017|
- Navios Acquisition looking to take in First Ship Lease tankers
New York-listed tanker arm of Navios group eyes most of takeover target's fleet.
- Hansson and son lift NAO stake to 7.7%
Executive chairman's family has spent $2.85m on offshore vessel owner's shares this week.
- Euronav banks $150m from Nordic bond issue
Move sees tanker owner add another 'footprint' in the capital markets, CFO says.
- GulfMark reveals Chapter 11 plan backers
DNB provides $35m loan while key institutional investors sign on to restructuring plan.
- Torm watching and waiting with $265m war chest
Jacob Meldgaard says products tanker owner has plenty of ammunition to go after the right deal.
- Avance Gas: VLGC consolidation 'not over'
Christian Andersen believes more M&A is on the way between gas carrier owners.
- Carval tipped for panamax entry with double buy
Brokers believe Cargill-linked owner is closing on a $30m transaction.
- Polarcus hands stock options to new CEO
Duncan Eley now holds 2.65m shares worth a potential $87,000.
- GulfMark inks deal to head into bankruptcy
Restructuring agreement will nearly wipe out existing shareholders but will reduce debt by $430m.
- Wintermar clinches $71m debt deal with banks
Indonesian offshore player wins more time to pay off debt in slump.
- Navios Acquisition sees in-line profit decline
Angeliki Frangou-led tanker owner also reveals new loan facility of $24m.
- Abandoned reefer taken under tow
Stricken Baltmed vessel heads away from Falkland Islands conservation zone.
- Hyundai Mipo workers getting paid leave
Management and union agree deal to idle workforce in slump.
- Missing captain found alive on Spanish beach
Master of car carrier taken to hospital after falling overboard in Cadiz.
- Lorenzo Shipping slashes quarterly loss
Filipino boxship owner reduces red ink in first quarter as revenue slides.
- Exmar hits the road for bond finance
Belgian owner floats possibility of new issue to pay off maturing $117m debt.
- POSH increases claim in Makamin charter row
Singapore owner adds $4.7m to legal action, as counterclaims fly.
- Ferry owner 2Go makes less
Manila-based company reports smaller net income as operational expenses rise.
- KLC triples operating earnings
Korean bulker and LNGC owner boosted by new SM Line in first quarter.
- Eyal Ofer's Zodiac returns to VLCC market
Second-hand deal marks tycoon's first purchase of a trading VLCC in a decade.
- Eidesvik Offshore facing restructuring
Owner logs bigger profit but says market situation could mean refinancing needed.
- Torm sells two tankers and enters third leaseback deal
Danish owner reveals latest deals alongside profitable first quarter performance.
- Bulker bounce helps Lauritzen in first quarter
Gas ship division also puts in stronger operating numbers in the first three months of 2017.
- Neda Maritime sells older VLCC
Lykiardopulo company offloads 2002-built tanker to compatriot, brokers say.
- ASL Marine falls into the red
Singapore OSV owner hit by higher costs in its third quarter.
- Avance Gas crashes to first quarter loss
Norwegian owner says VLGC recovery will not take place until 2018.
- Cosco set to unveil international fund
State giant's new project will only invest in shipping and offshore assets.
- Interest expenses drag down Navig8 Product
Surge in finance costs helped to fuel a plunge in quarterly profit at Nicolas Busch-led shipowner.
- Thoresen Shipping returns to the black
Owner of 20-strong supramax fleet rides freight rate rally to make positive start to financial year.
- Hoegh Autoliners sends PCTCs for scrap
Norwegian shipowner takes car carrier green recycling to 17 ships with latest disposal.
- Pan Ocean expands handymax footprint
South Korean shipowner's move looks to be part of wider build-up of dry cargo fleet.
|MAY 16, 2017|
- HMM reports smaller Q1 loss
Hyundai Merchant Marine (HMM) reported an operating loss of 131 billion South Korean won (U.S. $117 million) in the first quarter of 2017, ...
- Spanish unions call for more port strikes
Spanish trade unions have called for another wave of port strikes in protest of the government's plan to change the existing labor system a...
- Evergreen earnings turn a corner in Q1
Evergreen Marine Corp. had a net profit of 168.9 million New Taiwan dollars (U.S. $5.6 million) for the first quarter of 2017, up from a lo...
- Industry groups push for increased freight infrastructure spending
Various freight transportation groups from around the country are traveling to Washington, D.C. this week to encourage more spending on inf...
- New USTR chief gets to work
Robert Lighthizer was officially sworn in Monday as the United States' new trade representative. "President Donald Trump made a promise to...
- Executive Moves: VersaCold and Pilot Freight Services
Source: Pressmaster/Shutterstock VersaCold Logistics Services appoints chief operating officer, while Pilot Freight Services names vice pres...
- Port of Cleveland unveils future investments
The Port of Cleveland unveiled projects to repair key bulkheads and improve efficiencies at its facilities. Over $6 million in funding wil...
- UPS incorporates AI in package tracking
Package delivery and logistics provider UPS has integrated its chatbot platform with the "UPS My Choice" function to allow customers to tra...
- Milaha commences Doha-Dubai service
Qatar-based maritime transport and logistics company Milaha is launching a new door-to-door shipping service between Doha and Dubai, the co...
|MAY 16, 2017|
- TENDER DATA: Trafigura wins Surgutneftegaz fuel oil tender; sources
Traders have expressed surprise at the very high levels at which the tender concluded.
- Discipline in tanker orders offers chance for market stability: TORM CEO
TORM's earning's presentation states a solid balance sheet with net loan-to-value of 55% and available liquidity of $405 million as of March 31.
- ULSD moves out of ARA storage as contango narrows
The June/July spread has been trading at minus 25 cents/mt in recent days, a record high for the June/July contract and a level unlikely to prove profitable for storage.
- NWE LSFO cash flips to contango to front month as prompt supply rises
The physical cash to front-month structure moved to a contango of $2.25/mt Monday from a $0.50/mt backwardation at the end of last week.
- External: Wired Bunkering
- FUTURES: Oil ticks up amid mixed outlook on supply
- TRADER NOTE: Bunker Holding makes CEO changes at three subsidiaries
New appointments are aligned with market requirements.
- Saudi Arabia ratifies IMO's Ballast Water Management treaty
Saudi Arabia deposited its instrument of accession with IMO on April 27.