Maersk goes into the red in Q1 AP Moeller-Maersk A/S, owner of the world's largest container line, posted a first-quarter loss and may lose money at the full year after freight rates declined because of falling trade.
Daewoo Shipbuilding Q1 net rises 23% Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipbuilder, said profit rose for a second straight quarter as the weaker won helped increase overseas earnings.
Braemar Shipping pre-tax profit up 10% Braemar Shipping Services Plc said yesterday pre-tax profit for the year to Feb 28 rose 10 per cent due to steady transaction volumes and the strength of the US dollar and sees positive overall prospects for the current year.
Biggest Taiwan port sees Chinese interest
Shipping markets face tough years ahead
S'pore goes a long way towards creating an intelligent port
Agility opens subsidiary in Romania Middle-East-based logistics service provider Agility has broadened its coverage in Eastern Europe by opening a new subsidiary in Romania. This follows Agility's expansion into Pola...
Panalpina chosen as Huawei's prime LSP The Basel (CH)-based transport corporation Panalpina has been nominated by Huawei Technologies, one of the world's top telecommunications companies, as prime logistics service prov...
SDV International Logistics inaugurates new platform The new Diélette roadway platform of SDV has been inaugurated in style. The Industrial Projects Department of SDV International Logistics was one of the main players in this unique...
New services at Bremerhaven car terminal The shipping company Van Uden recently relocated a ro-ro service from Hamburg to Bremerhaven(both Germany). The company deploys its own vessels - the "Maximahaven" and the "Juliana...
HHLA's containter information system takes on new dimensions The COAST container information system run by Hamburger Hafen und Logistik AG (HHLA) has been further upgraded, now offering HHLA clients a great variety of opportunities for more ...
Grimaldi expands US-West Africa service Grimaldi, a Naples (Italy)-based shipping group, has expanded its fortnightly ro-ro/container service between the USA and West Africa to the US port of Boston and Lobito in Angola....
RJ loses revenue in first quarter Royal Jordanian Airlines (RJ) has published its Q1/2009 financial results. They showed an 11% decrease in revenues in comparison to the same period in 2008, due to a decl...
TAM will fly seven times per week to South Africa The Brazilian carrier TAM will fly to Johannesburg (South Africa) daily from the second semester of this year. In addition TAM announced that its request to fly to Portugal has bee...
SIL Barcelona: Pre-Register for free without waiting in line Attending the SIL Barcelona is easier than ever before, as you can pre-register for free without waiting in line. The organization of SIL and ITJ Logistics Worldwide invi...
Profits plunge at Maersk and NOL AP Moller-Maersk has worst ever quarter with net loss of $373m while NOL is $245m in the red.
Maersk boss warns of box line failures during years of recession
APM Terminals to "take cost out of the system" COMPANY working with lines to take cost out of the system as first quarter volumes fall 12%.
Braemar bullish after posting record annual results BRAEMAR Shipping Services sees record annual results, with pre-tax profit increasing 10% to '16.2m.
Security teams to protect US ships US-flagged vessels operating in pirate-infested waters must bring security teams aboard, according to a secret directive circulated on Monday
US bumps up tanker outlook THE Energy Information Administration hiked its projections for US crude imports today, forecasting a lower drop for 2009
Maersk Line battered by box slump MAERSK Line, the biggest container shipping unit of AP Moller-Maersk (APM), suffered a $559M net loss in 1Q 09 compared to an $80M profit in the same period last year
Steel pricing could bolster Capes FIRMING Chinese steel prices could elevate near-term Capesize spot rates to $35,000/day or higher, Dahlman Rose analyst Omar Nokta said today
Bold Braemar bets on rate revival BRAEMAR Shipping Services has teamed a strong set of annual results with a confident business outlook, tipping the dry and wet markets for rate revivals towards the end of the year
Slashed rates promote spot deals THE MEAGRE freight increases won by box lines in the 1 April rate restoration attempts have started to erode because of continuous slot overcapacity
Casualty file Brazil smashup and more piracy troubles feature in WebTV's casualty roundup.
Calls to arms George Gourdomichalis wants shipowners to become insurance activists.
Buyers' market "No shortage of buyers" looking to snap up ships at depressed prices, says Braemar chief Alan Marsh.
Going local Sovcomflot begins to place hull insurance cover in Russian market.
Norden in reverse Carsten Mortensen-led owner's stock on the slide after it misses market forecasts for the first quarter and lowers full-year guidance.
Tallink U-turn Estonian owner trying to push back wage increases for workers agreed before slump.
Amur annexed Russia's biggest Pacific coast shipyard back in state hands as Putin promises state aid.
Silver lining Swedish Club disappointed and pleased at the same time.
Apology time P&I broker Martin Hubbard warns shipowner support for the P&I clubs is at a low level.
Selling again Norden keeps the buy-to-sell deals coming by offloading 2006-built panamax after exercising purchase option.
Fire sale DFDS finally sells ferry which recently suffered onboard fire for way less than reportedly sought.
Last calls? Downturn in claims gives Jerry Westmore hope that P&I club cash calls are a thing of the past.
Maersk massacred Danish giant sees $1.05bn first quarter profit turn to $373m loss year-on-year as conditions deteriorate.
Tavlarios sells Nikolas Tavlarios-led Aegean Maritime cashes tanker pair to help slice its debt.
Back to basics Fundamental issues like getting claims paid are now top of the insurance agenda.
$366m swing NOL books $245m loss in first quarter amid fears of a significant full year loss.
China tragedy Nine fishermen thought to have died in collision with a Thai cargoship in the Yangtze.
Penguin dives Singapore offshore group's bottom line sinks after sales gains swelled last year's numbers.
'Two more years' Tor Olav Triom says large bulker orderbook will keep market suppressed for the next couple of years.
PGS takes hit Jon Erik Reinhardsen-led offshore owner sees first quarter figures hurt by impairment charges.
Trouble ahead Japanese bulker owner Inui sees annual profit halved, and current year will be even worse.
DVB net drops German bank sees bottom line decline 8.6% but chairman Wolfgang Driese is satisfied with the result.
Assets threat Venezuela to grab US owner Tidewater's barges and tugs as it seeks to nationalise oilfield services.
Dof disappoints Mons Aase-led offshore shipowner sees operating profit tumble in the first quarter.
Ferry stalls Philippine authorities rescue 87 people after vessel develops engine trouble off Palawan.
Braemar grows Alan Marsh-led broker and service provider raises profit and spies dry bulk and S&P recovery.
Daewoo rises Korean yard's first quarter profit jumps 23% as it builds vessels ordered in the good old days.
Jumper dies Man who leapt from Kiwi ferry as it left Devonport has died after suffering head injuries.
Azuma down Japanese cement carrier player records big slump in annual profit as markets tank.
Otto off colour Lee Kok Wah-led Singapore offshore player sees profits dip from a year ago on declines in other income.
Black Sea pairing CMA CGM and Maersk Line are teaming up for a new liner service to Europe from North Asia.
MEX in, MAX out OOCL and TSK Line are rejigging their Asia-Middle East service with a little help from Coscon.
Sumitomo slides Japan's Sumitomo Heavy Industries sees full-year profits fall by two thirds compared to a year ago.
Tough times for Maersk The A P Møller-Mærsk Group reports a net loss of USD 373 million for the first quarter of 2009 compared to a net profit of USD 1,050 million in
UN doubts dry bulk index For a long time, the Baltic Exchange freight market index Baltic Dry Index, BDI, has been seen by many as one of the best indicators of where the world economy
Vessel aground off Bjørnøya The Russian reefer Petrozavodsk went aground yesterday morning off Bjørnøya, Norway. The vessel is leaking diesel oil although how much is unclear. According to the shipping company, the vessel had
Gloomy Q1 for Hapag-Lloyd The German shipping company Hapag-Lloyd reports operating losses of EUR 222 million for the first three months of 2009 compared to an operating profit of EUR 18.5 million
Wallhamn links the Baltic Sea with the Mediterranean In mid-May, Grimaldi-owned Finnlines will open a regular weekly connection between Helsinki and Wallhamn. The intention is to connect Finnlines' services to Finland and Russia with Grimaldi's EuroMed
Pirates release two vessels Pirates have released the British-owned and Panama-flagged bulker Malaspina Castle, 32.600 DWT, which was hijacked in the Indian Ocean on April 6. The crew of 22 are
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