Prospect of shipping rate rebound dim A triple assault of weak consumer demand, vessel oversupply and global recession is set to keep shipping rates under pressure this year and batter any prospects of a major rebound.
Somali pirates hijack Dutch vessel Somali pirates yesterday hijacked a Dutch ship with eight crew members in the Gulf of Aden, the East African Seafarers Assistance Programme said.
Teneso Europe SE: Eleven hightech logistics companies join ranks Eleven leading European hightech logistics and transport specialists recently formed a new pan-European logistics company under the name of Teneso Europe SE. They focus o...
Jerich International expanding in USA The Austrian transport and logistics group Jerich International recently opened a new distribution centre in Houston TX (USA). The facility has 1,858 sqm of hall space and is locat...
Reinecke & Associates opens partner office in Vienna Reinecke & Associates CEE GmbH has established a partner office in Vienna which officially started work at the beginning of April. The company is responding to growing de...
Sales and results down at Deutsche Post DHL The logistics service provider Deutsche Post DHL reported a 12.9% drop in sales to EUR 11.5 billion in the first quarter of this year. Ebit before one-off effects dwindled by 42.1%...
Hupac: Continuity despite crisis The multimodal operator Hupac reported 1.8% more traffic and a positive group result in 2008, despite a drastic slump in the fourth quarter. As the crisis continues this year, Hupa...
New general-purpose foreign trade zone for USA's Philadelphia region The Philadelphia Regional Port Authority and 5K Logistics Inc have opened a new general-purpose foreign trade zone serving the greater Philadelphia area (USA). The facility is loca...
Cosco Shipping sees drop in first quarter net profits Cosco Shipping, the heavylift and specialist vessels division of China's largest shipping company, is likely to see a plunge of more than 50% in net profits in the first ...
Intercontainer Austria makes quick modal switch The RCA subsidiary Intercontainer Austria (ICA) recently had an opportunity to demonstrate its flexibility and capability. Around 100 heavy overseas containers unexpectedly ar...
Maersk Line to raise rates in Intra Euromed and Asia-Europe trades The Danish shipping giant Maersk Line is raising its rates on services from Northern Europe to North Africa and the Mediterranean, as well as from Asia to the Mediterrane...
Dieter Bambauer is new head of PostLogistics The board of directors at Swiss Post appointed Dieter Bambauer as the new head of the PostLogistics Group unit at a meeting held on 27 April. He will take up his new posi...
Pirates hijack Dutch cargo ship PIRATES hijacked the Dutch general cargo ship Marathon today in the Gulf of Aden, the US Navy said
Vale sales mix shifts to China IRON ore giant Vale cited significant shifts in export revenue shares today and conceded that the global recession has pared profits
Union condemns prosecution MARITIME union Nautilus UK condemned today the UK decision to prosecute the master of the offshore emergency response and rescue vessel Viking Islay
Seasonal boost for boxes to US US BOX imports increased in March over February, but analysts cautioned today that the rise was only caused by seasonal factors and does not signal recovery
COSCO Corp's profits tumble COSCO Corp said today a customer in Europe has reduced its order for four Supramax bulkers at its Zhoushan facility to three ships, as the shipbuilder also reeled from a huge profits fall, according to Reuters
Cement ship cracks wharf AUSTRALIAN cement manufacturer Adelaide Brighton is hoping that stockpiles at its Port Adelaide site will continue production after its own vessel destroyed a limestone-loading facility earlier this week
Swire reworks its routes SWIRE Shipping is adding tonnage for some of its routes to attract a wider range of cargo and speed transits
Algoma plunges Canadian bulker and tanker owner's first-quarter losses swell as revenues slump.
TBS shares fall Shares in tweendecker and bulker owner plunge after gloomy quarterly report, but Joseph Royce sees some positive signs.
$1m Armada sale Insolvent Singapore chartering group got modest payment from insider sale of handysize and handymax business to Martin Egvang and Lars-Peter Madsen.
Sun attack shown Footage shows pirate assault on Liberty Maritime bulk carrier Liberty Sun in the Gulf of Aden.
Navy ship evades No reports that civilian-crewed military cargoship fired back during attempted hijacking off Somalia.
Ore sales shrink Iron ore and pellet sales by Brazil's fell in the first quarter but exports to Asia grew.
GLDD profits Largest dredger in the US flips to the black in the first quarter as revenue surge by 32%.
More for breakers Eagle Bulk chief expects accelerated bulker scrapping even in an improved market, as analyst downgrades his company's stock.
Di eyes $100m Simeon Palios-led bulker owner lines up stock offering with panamax and capesize purchases in mind, analyst says.
Sindora grows Malaysian group to expand products tanker presence with takeover of Orkim, which has seven ships on order.
Over-bored Filipino crewman seemingly unable to handle life onboard jumps ship from bulker in Canada.
No end in sight Cosco says shipping and economy will not turn the corner any time soon as it reports 60% drop in first quarter profit.
Double for JSK Indonesian owner has finance in place to snap up two handymaxes for $20m this year.
Bulk cull rolls on One supramax axed and another brace delayed at Cosco Zhoushan, parent says.
Dutch ship seized Dutch vessel with between eight and 19 crew hijacked in Gulf of Aden on Thursday morning.
More rises Maersk Line goes for further rate restorations worldwide to combat "unacceptable" levels.
WW profit up Higher interest rates boost Norwegian car carrier player, but downturn hits operating profit and revenues.
Back in black Philippines ferry group Aboitiz Transport returns to profit in first quarter as freight rates rise.
ESL offloads Finnish owner's oldest bulker, the 1980-built Kontula, sold for profit of nearly $4m.
Losses growing Tough first quarter leads to more red ink for Finnish ro-ro player Finnlines as cargo volumes plunge.
Bulker free soon? UK-owned Malaspina Castle seized a month ago could be released soon, Bulgarian ministry says.
KS sounds alarm Kuribayashi Steamship issues profit warning, slicing its full-year estimate by more than a fifth.
Bonheur buoyant Fred Olsen company logs vastly improved first-quarter profit as offshore drilling unit shines.
Wrist rises Danish bunkering and ship supply group pushes up 2008 profit to record level.
Swissco cuts Alex Yeo-led offshore owner pockets $1.24m after trimming stake in rival Swiber Holdings.
UK arm axed Around 150 jobs lost as Oceanteam pulls plug on its British unit.
Globus sells George Karageorgiou's AIM-listed dry bulk outfit says it will make $13.5m loss on sale of one of its two panamaxes.
Fisher on track UK owner ahead of last year's performance thanks to marine services, as tanker volumes fall in downturn.
Neste knocked Finnish owner sees first quarter rates almost halve for its crude and products tanker fleet.
Cosco still a sell Local analyst maintains recommendation for Singapore arm of Chinese giant despite FPSO deal.
Magic piper jailed Chief engineer of Spanish tanker stung in pollution case in US sent down for a month and fined.
Eagle's profits up US-listed handymax player makes good start to 2009 as fleet expansion buoys revenue and profits.
Mixed quarter French shipowner sees first quarter revenues up at its offshore division, but down at its dry bulk arm.
Substantial loss for Finnlines The Finnlines Group recorded a loss before tax of EUR 26.6 million during the first three months of 2009. The main reason is the sharp drop in cargo volumes
Loss despite increased revenues at STX Europe STX Europe reports a 17.5 per cent increase in revenues to NOK 8,779 million in Q1 compared to the corresponding quarter last year and a NOK 180 million loss
Stiff terms for environment offenders at sea More effective measures to combat pollution at sea through stricter legal penalties will be implemented following the adoption by the European Parliament of a directive which provides for criminal sanctions
Mikael Backman appointed MD and CEO of Viking Line The Board of Directors of Viking Line Abp has appointed Mikael Backman as the new Managing Director and Chief Executive Officer. Mikael Backman will take up his new position in
Gloomy Q1 report from Wilh. Wilhelmsen The Wilh. Wilhelmsen group's first quarter of 2009 was heavily affected by the global economic downturn. Lower cargo volumes resulted in a lower operating profit, down from USD 59.9
LNG demand drops According to the French-based organisation International Group of Liquefied Natural Gas Importers, LNG sales growth has almost come to a stop. Figures for 2008 shows that sales growth was
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