Dry bulk ship buyer looks for bargains After years of sky-high order books, a surfeit of dry bulk ships in the current recession means that companies like Ultrapetrol Bahamas Ltd should be able to buy vessels at bargain prices, the company's top executive said on Monday.
Singapore is prepared to ride out the storm: MPA IN 2008, the Singapore port was again the world's top port in terms of shipping tonnage, container throughput and bunker sales, despite the economic downturn. Yet it is among the safest and most efficient ports in the world.
Malacca pirates can be struck down within 5 years: KL Pirate gangs in the Strait of Malacca can be 'struck down' within the next five years if the current aggressive pace of enforcement is maintained, a senior Malaysian maritime security official told Reuters.
Strait Talk
How should we fend off pirate attacks? AN incident that took place in the Gulf of Aden on Sunday should give food for thought. The Dubai Princess, a 115,485 dwt crude oil tanker, was travelling through the danger zone when a speedboat carrying half-a-dozen pirates armed with guns and a rocket propelled grenade (RPG) launcher was observed chasing the Emarat Maritime-managed vessel.
Dry bulk ship buyer looks for bargains After years of sky-high order books, a surfeit of dry bulk ships in the current recession means that companies like Ultrapetrol Bahamas Ltd should be able to buy vessels at bargain prices, the company's top executive said on Monday.
Singapore is prepared to ride out the storm: MPA IN 2008, the Singapore port was again the world's top port in terms of shipping tonnage, container throughput and bunker sales, despite the economic downturn. Yet it is among the safest and most efficient ports in the world.
Malacca pirates can be struck down within 5 years: KL Pirate gangs in the Strait of Malacca can be 'struck down' within the next five years if the current aggressive pace of enforcement is maintained, a senior Malaysian maritime security official told Reuters.
Strait Talk
How should we fend off pirate attacks? AN incident that took place in the Gulf of Aden on Sunday should give food for thought. The Dubai Princess, a 115,485 dwt crude oil tanker, was travelling through the danger zone when a speedboat carrying half-a-dozen pirates armed with guns and a rocket propelled grenade (RPG) launcher was observed chasing the Emarat Maritime-managed vessel.
Joël Moebel leaving Schenker France Joël Moebel, who has worked for Schenker SA in France for 22 years, and who has been the company's long-serving director and regional director Europe West at DB Schenker AG, has su...
Sorensen quits UASC The United Arab Shipping Company (UASC) has announced that Ken Sorensen, its chairman and CEO, is stepping down after a four-year term of office. UASC's board said that the company...
MISC withdraws from Far East trade The shipping line MISC Berhad, based in Kuala Lumpur (Malaysia), has informed its partners in the Grand Alliance that it will withdraw from the trade between Europe (including the ...
FedEx Express and Cologne Bonn airport hold topping out ceremony FedEx Express, a subsidiary of US-based FedEx Corp and Cologne Bonn airport (Germany; recently held a topping out ceremony for the express service provider's new Central ...
Australian Logistics Council (ALC) is on the move The Australian Logistics Council (ALC) board has been working to make sure that ALC, as Australia's national umbrella body for transport and logistics (T&L), continues to focus on ...
Royal Mail doubles earnings The Royal Mail Group, a British mail service provider, almost doubled its profit last year, despite the on-going recession. The group's operating profit increased to GBP 321 millio...
Wim Bosman Group awarded ISO certification again The Wim Bosman Group has again been awarded ISO 9001 certification (quality) at its companies in the Netherlands, Belgium and France, after an intensive audit week, from 30 Ma...
Rhenus becomes preferred Lufthansa Cargo partner Rhenus Freight Logistics GmbH & Co KG signed a cooperation agreement with Lufthansa Cargo AG at the beginning of May. As a result, Rhenus has become one of the preferred partners o...
AA revamps B757s for short international flights The US carrier American Airlines (AA) is to revamp its smaller, single-aisle B757s and put them on the shorter international routes. Fort Worth-based AA began flying the first...
Prague Airport host Routes Europe 2009 conference Prague Airport is hosting the biggest event for air service development professionals in the European region from 16 to 19 May. Over 650 delegates, representing 75 airlines and up ...
Port of Antwerp strengthens ties with South Korean port city of Incheon The port of Antwerp (Belgium) renewed its 1996 friendship agreement with the South Korean port city of Incheon on 14 May. The ceremony took place as part of the royal trade mi...
Scandlines generates positive pre-tax results in 2008 The German-Danish Baltic Sea ferry shipping line Scandlines, based in Rostock (Germany), ended the 2008 business year with a positive pretax result, but nevertheless laun...
Iberia announces severe cost cutting measures The Spanish national carrier Iberia has announced severe cost cutting measures after suffering a EUR 92.6 million loss in the first quarter of 2009. Earnings declined by 15.6% as d...
HHLA keeps downturn within bounds Against a backdrop of a worldwide collapse of industrial production and volumes transported, the German terminal operator Hamburger Hafen und Logistik AG (HHLA) has reported distin...
Frangou urges more mature risk approach INDUSTRY needs to restore a proper approach to risk, Navios Maritime chief executive Angeliki Frangou has said.
Dry derivatives vehicle grinds to virtual standstill FFA alternative fails as market crash changes trading landscape.
APM's financial chief quits FINANCIAL chief S'ren Thorup S'rensen today resigned from AP M'ller-Maersk, in a time of continuing organisational upheaval and financial loss for the Danish group
Moody's reacts to FESCO move SOURCES at Moody's, the international rating agency, have revealed that FESCO is the only global shipping company to withdraw from the rating system since shipping revenues and vessel values dropped last year
Mwangura cleared of all charges MOMBASA'S high court has dropped charges against Kenyan seafarer activist Andrew Mwangura, who told Fairplay today that the case had been Kenya's attempt to "muzzle" him
China to raise refining capacity CHINA'S State Council has decided to increase oil refining capacity this year nearly 18.5% over the figure for 2008
Indian shipping shares react INDIA'S stocks are forecast to soar 20% in the next few weeks after the election victory of the Congress-led Alliance coalition
Trade financing seen improving TRADE financing will continue to improve in the next 6-12 months and restrictions will ease, IHS chief economist Nariman Behravesh told a conference in Nice today
Yard unions again accuse Warsaw POLISH unions today continued to accuse the government of lying about the amount of government aid received at Gdansk shipyards since 2004
Termination of icebreaker service Danske Havne, the association of Danish ports, has recommended that the state-owned icebreaker service be terminated as soon as possible. 'It is an old-fashioned service, which has become
Aegean upbeat on Q2 prospects Sees increase in sales; welcomes opportunities for more growth.
Prices soar in Northern Europe Rotterdam 380 cst bunker product gains $16 per metric tonne.
Russia fuel oil exports climb Weak domestic demand sees more product heading abroad.
New 'sail' could be tested on tanker Developer says its fuel-saving technology could be suitable for all ships.
Cutting bunker consumption remains a priority Slow steaming will last beyond the end of the recession, says Maersk.
Bunker prices jump in key Asia ports Demand generally reported to be slow.
Istanbul bunker conference opens next week Turkish Bunker Association event will look at regional market and boarder industry issues.
Sri Lanka's bunker market 'to grow' as conflict ends End of war will bring security and stability to the country, benefiting port and bunker market growth.
India's Global Fuels & Lubricants moves
Supplier makes first delivery at Gwadar Starts with MGO sales, may be followed by IFO sales later this year.
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