Shipping sector seen stabilising at a low level The worst is over for the shipping industry but the seaborne sector will continue to face oversupply problems which will put pressure on freight rates this year, Moody's Investors Services said on Tuesday.
Rates to rise: Goldman Container lines will 'absolutely' win targeted rate increases on Asia-US routes this year because of capacity cuts and rising US consumer spending, according to Goldman Sachs Group Inc. 'US and Europe consumers are not feeling as bad as a year ago' Goldman analyst Tom Kim said at a shipping conference on Tuesday. 'The volumes are still there. The demand is picking up.'
Seychelles toughens law against piracy Lawmakers in the Seychelles, facing an upsurge in Somali piracy, passed legislation on Tuesday that could see suspected pirates jailed up to 30 years in the Indian Ocean archipelago.
EU to address exclusion from working time directive today The employment and social affairs committee of the European parliament is expected to agree with its rapporteur Edith Bauer (EPP Slovakia) at today's meeting, and allow exclusion f...
Drewry report: slow steaming no guarantee of service reliability The growing practice of slow-steaming by container shipping services has coincided with an unexpected deterioration in the on-time arrivals of vessels, according to Drewry Shipping...
Hanjin to expand e-commerce services through INTTRA INTTRA and Hanjin Shipping, a world-class carrier headquartered in Seoul (South Korea), have announced that the latter will expand its use of e-commerce services offered by INTTRA....
Vectura outsources services to Kuehne + Nagel Vectura, a leading supplier of logistics services for producers, agents and importers of wine and spirits in Norway, has signed a three-year agreement to outsource warehousing and ...
Azkar renovates handling systems The Spanish transport and logistics service provider Azkar signed a five-year agreement with Ulma Handling Systems for the integral service and maintenance of Azkar's entire fleet ...
Vopak opens new terminal to double capacity at the port of Amsterdam The Dutch tank terminal operator Vopak has decided to substantially increase the capacity of its storage terminal for oil products that is currently under construction at the port ...
Second Boeing B747-8 freighter completes first flight A second Boeing B747-8 freighter - the RC 522 - successfully completed its first flight on 14 March. The airplane took off from Paine Field in Everett WA (USA), for a two-and-a-hal...
Swissport and BA conclude cargo handling agreement Swissport International, a provider of ground handling services active at 176 airports in 38 countries on five continents, is intensifying its collaboration with British Airways (B...
Novosibirsk airport taking advantage of its geographic situation Tolmachevo airport in Novosibirsk, the biggest city in Siberia, recently welcomed a delegation from Air China Cargo. At the end of the first day, bilateral cooperation agreements w...
CSAV back to Western Mediterranean with new container service The Chilean shipping company CSAV Norasia is cancelling its Far East-Mediterranean service (FEM) that it operates with Evergreen (Taiwan) only a few months after the sailing was in...
Otal calling at Rauma OT Africa Line is improving its coverage of North Europe by calling at Rauma on the west coast of Finland. Other ports of call in that region are Helsinki and Kotka. The servi...
Carriers accused of collusion A leading shipper group publicly alleged that container carriers are colluding on capacity at a US congressional hearing on Wednesday
Pirates get Tromped THE LATEST attempt by pirates to attack a vessel in the Indian Ocean unsurprisingly failed this morning: its target turned out to be a Dutch warship
Marine energy winners unveiled THE UK has unveiled the winning bidders for the largest-ever leasing marine energy leasing project, IHS Global Insight reported today
Pirate suspects face prosecution EU NAVFOR has handed over 11 suspected pirates to authorities in the Seychelles for prosecution
Statoil awards contract bonanza NORWAY'S oil major Statoil said today it has awarded Fred Olsen Energy a $421M contract
Cuxhaven gains wind investment THE GERMAN port of Cuxhaven has sealed a multimillion-euro investment for a production and logistics facility for offshore wind turbines
Haiti set for terminal boost EARTHQUAKE recovery and long-term reconstruction in Haiti will be helped by a US-Haiti private partnership's plans to revitalise a key terminal
Only half of the liners arrive on time Only 53 per cent of the liner vessels' port calls were in time during October to December, Drewry Shipping Consultants reports. The company that has tracked 1,600 container carriers in
Chemical tanker released by Somali pirates The chemical tanker MV Theresa VIII and its crew of 28 has been released by Somali pirates after an undisclosed ransom was delivered. The vessel was hijacked in the Somali
Fjord Lines orders ferry pair from Bergen Fjord Line has signed a contract with Bergen Group to build two new cruise ferries ' the contract value amounts to EUR 206 million. The vessels will be delivered in the
New president for NSA Thor Jørgen Guttormsen has been elected new president for the Norwegian Shipowners' Association. "I look forward to continuing the major work of managing the industry's interests in the best way
Number of idle container carriers falls The number of idle container carriers continued to slide over the last two weeks with 474 units, 1.22 million TEUs in all, recorded as idle on 15 March, according
Three crew members die of alcohol poisoning Last week, three crew members died on board a product tanker sailing through the English Channel. A French prosecutor now claims that the men, three Russian citizens, died of alcohol
No surprises in inventory report Crude prices trading higher, but on dollar weakness.
KPI appoints new broker and trader Shea Stevenson will work in New York office.
Chilean suppliers resume supply IFO grades now being offered in the market.
Major ports see higher numbers Suppliers 'only quoting for short periods due to the firming market'.
Expert warns of adverse knock-on effects of slow steaming Increased collaboration needed to increase competitiveness and curb emissions as customers look to aviation to transport goods on time.
Strong gains in Middle East hub MGO prices leap in Suez.
New IFO supply in Martinique C-Fuels America is offering low sulphur, low viscosity material.
Taskos records Q4 loss Tanker company draws some relief from bunker swaps.
Russian oil major offers over 1 million mt of fuel oil Cargoes offered on FOB basis from Nakhodka in Russian Far East.
Bullish prices take a toll on demand Supplies tightening in Tokyo Bay and the West Coast areas.
Titan raises $48 million to fund exchange offer Following the issuance of 1 billion of its shares; warns of 'substantial risk' if it fails to complete the exchange offer.
Aramco sells 380 cSt cargo at 'firm price level' Traders say cargo 'likely' to be absorbed by Fujairah's bunker market.
Hong Kong 180 cSt supply tight on 'oil quality problems' Replenishment cargo cannot be discharged due to 'specification problems'.
Brightoil mulls bringing bunker tankers into Singapore Two barges planned for deployment in April, says source close to the company.
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