Oversupply of vessels set to hurt recovery: Moody's An oversupply of vessels may obstruct a recovery of the shipping industry, putting pressure on freight rates, Moody's Investors Service said in a recent report.
Somali pirates release S'porean ship for cash Somali pirates freed a Singaporean-flagged chemical tanker after a ransom was delivered by parachute last week, a spokesman for the European Union Naval Force said, as an expert warned pirate activity was likely to spike in coming weeks.
MSC expands fleet The Geneva (Switzerland)-based carrier Mediterranean Shipping Company (MSC) will expand its fleet of container vessels within the next three years. According to Pasquale Formisano,...
CMA CGM: tough negotiations with South Korean shipyards proceed The French shipping company CMA CGM is engaged in tough negotiations with South Korean shipyards to delay or cancel orders it placed in 2007 for some 30 new ships. However, CMA CGM...
Mystery HDS Lines takes over box business from banned IRISL The Iranian flag-carrier Islamic Republic of Iran Shipping Lines (IRISL), which has been impeded by US and British bans, has transferred its container operations to a new and hithe...
APM Terminals makes important step forward in safety performance APM Terminals' head of health, safety security and environment (HSSE), Henrik Kristensen, outlined his company's safety culture implementation and approach while addressing the 2nd...
Dutch logistics group Rotra BV scoops up Gillemot in Belgium Rotra BV, a medium-sized owner managed Dutch logistics company, is taking over its long-standing Belgian cooperation partner Gillemot and its 125 employees on 31 March. The price o...
In Time awarded major contract by car supplier TRW In Time Express Logistik GmbH, a German provider of time-critical door-to-door and express delivery services, has been mandated by the international car supplier TRW to bundle logi...
De Rijke Logistics receives AEO certificate The Dutch logistics service provider De Rijke Logistics was recently presented with its AEO certificate by the Dutch Customs Authorities. De Rijke Logistics can officially cal...
Philippe Gilbert appointed executive VP of Geodis Wilson The French service provider Geodis Wilson has appointed Philippe Gilbert as executive vice-president of its freight management division. Peter Nevhagen, who spearheaded this s...
VTG reports an almost stable business year The European wagon lessor and rail logistics company VTG has presented its provisional results for business year 2009. Group turnover rose to EUR 581.5 million, a 4.5% increase vis...
Jet Airways: new Mumbai-Johannesburg connection The Indian carrier Jet Airways is launching a new daily non-stop service between its hub Mumbai and the South African economic centre Johannesburg. From 15 April on, Jet Airways, w...
Iberia to resume Madrid-Washington DC service The Spanish flag carrier Iberia will resume its service between Madrid and Washington DC (USA) on 29 March, thus restoring one of its five US destinations. The carrier will operate...
Hainan Airlines to launch direct flights between Brussels and Shanghai The private Chinese carrier Hainan Airlines is to launch a thrice-weekly service between the Belgian capital Brussels and the Chinese industrial metropolis Shanghai on 28 May. The ...
Giant AN225 joins Haiti relief effort An Antonov AN225 ' the world's largest freighter aircraft ' has joined the Haiti relief effort. The equipment is carrying urgently-needed heavy earthmoving equipment on behalf of t...
Strike stymies French ports TRADE at container terminals across France was halted Friday after the CGT union launched 24-hour strike to protest worker treatment at St. Nazaire-Nantes
Tankers frozen off Maine HIGH WINDS and heavy swells are keeping three crude tankers from docking for a second day in Portland, Maine
NewLead in transition mode NEWLEAD Holdings, successor to Aries Maritime Transport, narrowed its quarterly losses today as its difficult transformation continues
HK's January exports rocket EXPORTS from Hong Kong grew at the strongest pace in four years in January, evidence that global economies are mending, IHS Global Insight reported today
Taiwan LNG imports rise 90% TAIWAN, Asia's third-largest importer of LNG, has increased LNG imports by 90% in January, compared with that month of 2009, IHS Global Insight reported today
Intra-Asia the panacea for carriers? With many ocean carriers' fiscal performance showing a marked improvement in the final quarter of the annus horribilis that was 2009, there is a growing perception that the worst is over for the container industry.
Containership Company comes to life
UK government's ports policy: 'not fit for purpose'
BG Freight to start new service between Rotterdam, France and Ireland
SFI to refinance John Fredriksen's Ship Finance International working to refinance $675m syndicated loan.
Wind of change Yards urge support from Brussels to build ships to drive installation of offshore wind farms.
SFI soars John Fredriksen's Ship Finance International reports profits boosted by the sale of a suezmax tanker.
Contracts switch John-Fredriksen's Ship Finance International converts boxship contracts into orders for seven bulkers.
Fire fiasco Hong Kong accident report reveals how crewman died after being ordered back on to burning tanker from drifting lifeboat.
Eidsiva posts loss Oslo-listed car carrier and ro-ro owner posts wider NOK 61.8m loss as impairment charges combine with the bite of charter rate cuts.
Surprise rise Analysts mystified by Jinhui share rally amid talk bonus payments led it to miss fourth quarter forecasts.
Big John's pay day Norwegian shipowner John Fredriksen will collect over $250m in dividend payments with the help of Frontline's bumper payout.
Management cuts Frontline will not be ditching V.Ships and Thome completely despite setting up its own shipmanagement arm, CEO says.
It's quotes time Morten Arntzen gives shipping a health check-up and Dmitry Skarga reveals himself as quite the Valentine.
Costa horror Three crew killed and four other people hospitalised after Costa Crociere vessel slams into pier in Egypt.
New5 in Numb3rs Bocimar grabs huge discount on three bulkers after switching order for a second time while Grand China Shipping snaps up Euronav VLCC.
Modec grabs cash Mitsui Engineering & Shipbuilding contributes $90m as FPSO player turns to shareholders for $175m.
MCA warning UK authorities to get tough on shipowners flouting rest regulations for crew.
Trio under threat Future of Cecon's three offshore construction vessels in doubt after Davie Yards files for bankruptcy protection.
Pramoni free Berlian Laju Tanker and 24 crew freed by pirates after two months of detention off Somalia.
Costly quarter Greek bulker and tanker owner NewLead posts loss in the fourth quarter as costs push it into red.
Third arrest Shipping Corp of Polynesia secretary Lord Dalgety is latest to face charges over sinking of Princess Ashika ferry.
BLT ransom paid Pirates set to free Berlian Laju Tanker unit and 24 crew seized on New Year's Day as ransom delivered.
Frontline lower John Fredriksen-controlled tanker giant sees fourth quarter profits drop on weaker tanker market.
Tax tonic FPSO player SBM Offshore survives tough 2009 with bigger profit thanks to lower tax bill.
Deep pockets John Fredriksen's Seadrill provides short-term finance to Scorpion Offshore to pay off rig debt.
ITC steady Profit up a little at John Fredriksen's International Tankers Corp but VLCC rates down.
Helping hand Taiwanese shipbuilder wins another government-backed order in the shape of a rescue vessel.
Green off colour Slumping vessel values and lay-ups in weak banana markets send Green Reefers to larger loss.
Golar LNG rises John Fredriksen company "considering strategic opportunities" as better financials boost bottom line.
DryShips improves George Economou-led bulker and drillship manages to squeeze out a profit at the end of 2009.
TMM tanks Mexico City-based tanker and offshore vessel owner Grupo TMM posts a loss in 2009 but reports a gain in annual operating income.
Search over In incident featured in this week's "Casualty file", search for crew member who fell from the Japanese-controlled Pacific Venus comes up empty.
Bad bugs Russia quarantines three bulkers at Vostochny after tests find Chinese weevil beetles in food stores.
Davie files Canadian yard seeks court protection as it admits offshore shipbuilding was harder than it thought.
Seadrill stronger Fredriksen-controlled offshore driller sees improved numbers in fourth quarter, raises dividend 10%
Jinhui triples Ship sales plus lower costs help to boost fourth quarter profits at Oslo-listed bulker operator.
Yangzijiang jumps Chinese shipbuilder sees profits jump substantially on increased number of ships under construction.
Kockums signs submarine deal Kockums AB has signed a deal with the Swedish Defence Materiel Administration (FMV), concerning the general construction of the next generation of sub-marines.
Apple had shipowner ambition ' accused of greed Sinking ship values have attracted investors to the liner industry. To very attractive prices, they can acquire assets that long-term will rise in value. The problem is that they
Mate sentenced for manslaughter A mate on a Class V passenger vessel has been sentenced to 15 months imprisonment for manslaughter. After a cruise on the river Thames in London a man fell between
Rolls-Royce wants all of Odim Rolls-Royce has made an offer to buy all outstanding shares in the Norwegian marine technology company Odim. The British company, which already owns 33 per cent of Odim since
Bunkers trade in narrow range Prices mostly steady for the week, falling near end.
Lack of direction to markets as week ends Prices diverging through the course of the trading day.
Prices weakening in Europe NYMEX shows gains of more than $1 in early trading.
Fujairah prices soften as week closes 180 cSt material remains 'tight' in Durban.
Maersk Line pulls out of Taiwanese hub port Observers say container shipping line's decision is new blow to Kaohsiung.
IMO chief: 20% cut in ship emissions possible from 2012 Slow steaming and efficiency rules for new vessels will be discussed this year, IMO to fight for its role as regulator.
Frontline predicts better year ahead Profits down by 85% but changing trading patterns and rising oil demand are 'positive' indicators.
Shipping industry 'unlikely to deteriorate further' Box shipping segment, however, will continue to 'under-perform' throughout 2010, says Moody's.
Singapore 380 cSt at two-week low Bunker prices at other key Asian ports also softened.
Intertek opens new test lab in Thailand 'State-of-the-art' laboratory provides testing of marine oil, refined products, crude oil among others.
Glencore launches unconditional cash offer for Chemoil shares Following the completion of acquisition of majority stake in Chemoil from the Chandran family.
Chinese bunker supplier acquires tank farm To store fuel oil for domestic market.
WFS reports record full-year profit But profit from bunker sales slumped 30% in Q4 and were down 17% year-on-year.
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