Mitsui OSK cuts annual profit forecast Mitsui OSK Lines Ltd, the world's largest merchant fleet operator, cut its annual profit forecast as Australia's worst flooding in 50 years disrupted cargoes this month and dragged down rates.
NOL's container volume rises in Dec Neptune Orient Lines (NOL) said on Monday that its container shipping volumes for the seven weeks to Dec 31 rose 26 per cent from a year ago, helped by higher traffic on the intra-Asia and Asia-Europe routes.
Operations slow at Suez Shipping operations in Egypt are carrying on as usual despite the unrest in the country but vessels at the port of Suez are unable to pick up military escorts for protection through the pirate-prone Gulf of Aden, a senior industry official said yesterday.
Hainan Airlines extends European cargo GSSA partnership with ECS Group China's Hainan Airlines has extended its general sales and services agent agreement with the ECS Group in Europe by awarding a new contract to the company in Hungary and Austria. T...
CMA CGM and Yildirim: equity note issuance finalised CMA CGM has now issued USD 500 million in redeemable bonds, all of which were subscribed by Turkey's Yildirim Group, in accordance with agreements between CMA CGM Group and the gro...
Maximus adding converted Airbus freighters to fleet Maximus Air Cargo, the UAE's largest dedicated cargo aircraft operator, is significantly expanding its fleet. Three additional Airbus A300-600 regional freighters, which each offer...
European railfreight body calls for improvements in German network Netzwerk Privatbahnen, an alliance encompassing 24 private and local freight railways from the whole of Europe, has said that the liberalisation of Germany's railway sector had led...
Future of German inland waterways not clear The German inland shipping organisation (Bundesverband der Deutschen Binnenschiffahrt BDB) has severely criticised the transport ministry's inland waterway concept, questioning the...
Loxxess changes ownership structure Loxxess, a German logistics group that specialises in complex outsourcing projects, has changed its ownership structure. The company has now announced that Christina Amberger, the ...
Maersk joins UN disaster relief team The A.P. Moller-Maersk group is the newest member of the logistics emergency team, having recently joined a disaster relief support network run by the United Nations World Food Pro...
PSA registers strong recovery PSA International handled 65.12 million teu at its ports around the world in 2010. The group's performance showed a marked increase of 14.4% over 2009, on the back of contributions...
ATR booked orders for 80 aircraft in 2010 The Franco-Italian regional turboprop manufacturer ATR booked orders for 80 new aircraft in 2010, plus options for 33 more. ATR generated a turnover of USD 1.35 billion in the year...
Rates will face spike if Suez Canal closes The canal and Sumed pipeline carry between 4% and 5% of world's daily oil consumption
Capesize values drop $1m in one week as market worsens Brokers see no sign of recovery as bulk carrier prices fall across sectors
VLCC sale price signals 'new low' in double-hull values Japanese-owned, very large crude carrier Tajima has been sold to Greek shipowners Dynacom Tankers Management for $28.1m, in what brokers have called a new low in values for 1990s-built double-hulled VLCCs
Baltic Index drops by 38% during month given 'Black January' label The Baltic Dry Index fell 30 points to 1,107 yesterday, closing 38% lower than a month ago, in what brokers are now labelling as 'Black January'
Chinese New Year brings freight rates relief Increased shipments on boxships ahead of the Chinese New Year have helped arrest any further drop in freight rates on the route from Shanghai to northwest Europe
Box lines draw up Suez contingency plans To deviate around Cape of Good Hope if Suez Canal is blocked
Tanker shares tumble on Egypt fears New York market reacts to realities of the Suez Canal situation after Friday spike
Paragon Shipping admits Korea Line exposure Dry bulk and boxship owner has a panamax on hire to the troubled South Korean giant until late 2013
Japanese box giants warn over earnings Lines warn over impact of rate declines and overcapacity on revenues and profits
Military takes control of Suez Canal Waterway to remain open although all other port activity likely to be at a standstill
Le Havre develops multimodal infrastructure links La Breque link plugs port directly into national rail network
Suez Canal shipment delays likely Just in time deliveries to be worst hit but marine insurers remain calm amid crisis
Former Hartmann boss launches shipmanagement firm Dietrich Schulz sets up own shipmanagement company
Indian frigate stricken in Mumbai collision INS Vindhyagari and Cyprus-flagged boxship collide
Long wait ahead for fruits of reform French ports may soon be better able to compete with European rivals, but will foreign exporters return?
Le Havre looks to freshen its image Leading French container port keen to alter reputation as nexus of labour unrest brought about by Nicolas Sarkozy's national port reforms
Normal accident, exceptional loss It is time for the maritime industry to redouble its thinking about safety, worse loss scenarios and decoupling of risk
MAN Diesel to design engine to run on organic liquid gas Move in response to order from Scandinavian shipowner for a small dry cargo vessel to run on organic liquid gas
Rush to install ecdis puts price and functionality pressure on makers Prices for Ecdis systems are dropping, while shipowners demand more functionality as the IMO deadlines for installation approach
Beluga Shipping slams failed rescue mission Crew member shot by pirates as patrol boat and Dutch frigate attack captured Beluga Nomination
NOL sees steady erosion in box freight rates Freight rates at the end of 2010 continued to slide but above 2009 levels
Daewoo posts record $697m profit Shipbuilder's net income up 35% on 2009 numbers
Delays hit Egyptian ports Disruptions reported as workers stay away due to civil unrest
TBS wards off bankruptcy threat Management to inject up to $10m in loan deal as deadline expires today
International Group defends release call policy P&I clubs warn any attempt by Brussels to impose a formula will restrict competition
SCCT severely restricted by curfew Shutdown from 1500 hrs to 0800 hrs leaves staff at container terminal with 'a very narrow window of working time'
Just in time may be worst hit by Egypt crisis Just in time shipments could bear brunt if Suez Canal closes
Oil traders warned over spread of Egypt unrest Market jitters unfounded but spread of protests to other countries could pose risk
Capital Product talks up prospects despite profit fall Average product tanker spot earnings for fourth quarter improved compared with 2009
Keep Suez Canal open Egypt has a clear self-interest in ensuring the continuing safe passage of merchant shipping in the Suez Canal
EU NAVFOR clarifies Beluga rescue BELUGA Shipping and EU NAVFOR have rejected media reporting of last week's attempt to free the Beluga Nomination from Somali pirates.
Usiminas of Brazil wins Panamax steel bid TRANSPETRO said today it will buy 13,000 tonnes of steel plate from Brazilian steelmaker Usiminas to build tankers to carry oil and refined products.
Paragon reveals KL risk NYSE-listed Paragon Shipping today confirmed that it could potentially suffer a material hit from Korea Line's receivership.
LB expansion gains steam LONG Beach is accelerating $4Bn worth of expansion schemes as it comes off a record year of box growth.
APM shuts non-oil operations in Egypt DANISH shipping and oil group AP Møller-Maersk has reportedly suspended its terminal operations at Egyptian ports and closed its shipping offices in Egypt.
Russia's UCL mulls IPO THE OWNER of Russian port and stevedoring company UCL Holding is considering an IPO with a target valuation of $2Bn, Fairplay has been told.
CPP results fall short EVANGELOS Marinakis-controlled Capital Product Partners reported disappointing results today but assured that sector fundamentals were improving.
Cruises give Egypt a miss CRUISE lines that operate eastern Med and Red Sea routes are altering itineraries because of the escalating violence and turmoil in Egypt.
DSME profits rise in 2010 SOUTH Korea's DSME today posted a 35.1% year-on-year rise in net profits to 780.1Bn won ($695M) for 2010.
China box shipments rise CONTAINER shipments from China surged last week as shippers saw a spike in export demand before Chinese New Year begins on 3 February.
Ship sinks off Seychelles A GENERAL cargo/passenger ship has reportedly sunk in the Seychelles.
Shares settle as Suez fear subsides SHARES in listed tanker shipping companies lacked direction this morning, after they rallied last week on fear that the Suez Canal could be closed because of the Egyptian government's crisis.
Less coal, iron ore shipped within China INTRA-China coal and iron ore shipments dipped last week as factories stockpiled ahead of the week-long Chinese New Year that begins on 3 February.
Russian fishing booms RUSSIA'S fish sector is booming, with Russian consumers increasing consumption level of cool, salted and dried fish at almost the country's growth rate for fruit.
'K' Line swings to profits 'K' LINE announced today that it recorded net profits of '6.9Bn($84M) for the third quarter of the 2010 financial year, reversing losses of ¥18.7Bn a year earlier.
Napolitano Calls for Trusted Shipper Program Homeland Security Secretary Janet Napolitano is gathering international support for an all-modes "trusted shipper" program similar to the trusted traveler...
Diesel Edges Up to $3.438 per Gallon Retail diesel prices edged up eight-tenths of a cent last week to a national average of $3.438 per gallon, according...
Long Beach Port to Build on Recovery The Port of Long Beach this year will progress in the development of four key infrastructure projects that will prepare...
NOL Container Volume Grew 24 Percent Neptune Orient Lines said Monday container volume for its APL subsidiary grew 24 percent in 2010 over the previous year...
Federal Judge Orders Carrier to Restore Teamster Pay A federal judge ordered an Indiana concrete company to restore pay and benefits to 23 cement truck drivers who were...
'K' Line Returns to Profit Container shipping provided most of the profits that put Japanese carrier "K" Line back in the black during its October-December...
Mississippi River Pilots Limit Vessel Draft Pilots who guide ships on the Mississippi River from its mouth to New Orleans last week put a new restriction...
US Steel Imports Jumped 47.2 Percent in 2010 U.S. steel imports last year rose 47.2 percent from recession levels in 2009 and signs point to further improvement this...
Wallenius Wilhemsen Adds Europe-U.S. Gulf Ports Wallenius Wilhelmsen Logistics will add port calls at Santander, Spain; Veracruz, Mexico, and Cartagena, Colombia, on its pure car/truck carrier...
FMCSA Wants Black Boxes for Trucks The Department of Transportation on Monday proposed all trucking companies be required to install electronic onboard recorders to monitor driver...
Higher Rates Raise Profit for Covenant Higher rates and better utilization of its equipment helped Covenant Transportation pull out of the red and post a profit...
French Port Strike Stalls Activity for Fourth Day French ports were at a standstill for the fourth successive day Jan. 31 as dock unions and port employers prepared...
MOL Cuts Forecast Despite Container Profits Japanese shipping group MOL reported higher container shipping profit but cut its earnings forecast for its fiscal year ending March...
Rockefeller Introduces FAA Authorization Bill Long-stalled legislation to fund operations of the Federal Aviation Administration got under way again in the 112th Congress. ...
Unrest Affects Egypt Ports; Suez Remains Open Egyptian ports were closed or operating at sharply reduced capacity amid a seventh day of anti-government protests Monday, but the...
NYK Profit Jumps More Than Tenfold NYK Line's net profit jumped more than tenfold in the Japanese shipping company's October-December fiscal third quarter as improved container...
EMD Sells Locomotives to Mexico, Canada Caterpillar-owned locomotive builder Electro-Motive Diesel locked in orders to sell 44 freight power units to Ferrocarril Mexicano, and five more...
Cargotec to Buy Navis for $190 Million Finland-based Cargotec said it will acquire Navis from Zebra Technologies for about $190 million. Cargotec markets cargo handling equipment...
ANA Earns $457 Million Profit in Nine Months Japan's All Nippon Airways swung to a net profit of $457.3 million in the first nine months of fiscal 2010,...
Ships Collide Off Mumbai A Cyprus-registered container vessel collided with an Indian naval warship off the Mumbai harbor Sunday. No injuries or oil...
Crandall Joins Southern Air Board Freighter operator Southern Air named Robert L. Crandall, the former American Airlines chairman credited with revolutionizing airline industry management, to...
ProLogis, AMB Property Announce Merger Distribution center giants ProLogis and AMB Property announced an agreement Monday to merge their businesses, bringing 600 million square feet...
Transloading, Part II Thanks to the recession, transloading is rapidly evolving from a tactic shippers used to avoid high rail rates for intact...
Credit Terms: Lost in Translation? Q: We're a maritime freight forwarder that does business with a client who imports from Hong Kong under credit arrangements....
Union Pacific Powers Into 2011 When Union Pacific executives consider how to build on big 2010 gains, they increasingly talk about the 'value proposition' North...
Simpler Pricing No Priority There's one area where FedEx Freight will stick to the LTL playbook: pricing. Although it's redefining its services as priority...
FedEx Freight Gets an Overhaul Bill Logue will launch a new trucking company Jan. 31 - FedEx Freight. It will look much the same as...
Ports Digging Deeper On Jan. 3, The Journal of Commerce published a commentary by Asaf Ashar ('Paying for Benefits,') that included several misleading...
A Deeper Vision Florida is something of a bystander when it comes to handling container trade with Asia, but the state's business community...
Infrastructure Pandemic U.S. infrastructure in rough shape, you say? Bridges collapsing and highways congested? Financing and investment lacking? We're not alone. ...
Whacked on the Waterfront The Christmas list keeps getting longer. A new round of federal indictments for alleged mob activity added several names to...
Breathing Easier, Nationally There's been no shortage of argument and legal battling over the clean-trucks programs at Southern California's ports, but there's no...
Cold Water on the Recovery Welcome to the first year of the second decade of the 21st century. Happy New Year to you all. ...
Making Connections in Michigan Barely two weeks into his first term, Michigan Gov. Rick Snyder threw his support behind a new bridge between Detroit...
Shippers Climb the Hill When it comes to transportation policy issues in Washington, freight shippers want it all. From heavy industry groups such as...
Hours-of-Service, Hours of Trouble What's most likely to keep trucking executives awake in the early hours of the morning this year? If you said...
Layering Capacity Truckers trying to keep a tight grip on capacity are rethinking how they use it. Innovative equipment designs could help...
Trucking Recovery 2.0.11 The fragile state of the retail supply chain became clear to Wayne Spain in December as he went from store...
Fuel Comes Back It's not quite 2008 again, but heads up: After two years of relative stability, transportation fuel prices are creeping back...
Words, Actions To say infrastructure and trade have never been as prominent in a presidential State of the Union address as they...
U.S. economy gains momentum The U.S. economy grew 3.2 percent in the fourth quarter of 2010, up from 2.6 percent growth in the third quarter, the Commerce Department said Friday. The results are based on preliminary data and are likely to be refined late next month. The impr...
IMS Rail handles containers from Rotterdam Basel-based IMS Rail Switzerland will take over railed container transport at the Dutch port of Rotterdam from ICF West, effective Tuesday. In early January, container operator IMS Intermove Systems Speditions- und Transport GmbH in Vienna agreed t...
Kansas City Southern profit up Kansas City Southern reported fourth quarter net profit of $55.6 million, compared to $35.2 million in the same 2009 period. Revenue for the quarter ending Dec. 31 was $479 million, up 18 percent from the year-earlier period on a 12 percent increas...
Official reiterates White House gas tax position White House Chief of Staff William Daley on Sunday ruled out a raise in the gas tax to help pay for transportation infrastructure, holding true to the Obama administration's position held since taking office two years ago. "I don't think raising t...
Crandall joins Southern Air's board Southern Air Holdings has appointed Robert L. Crandall, former chairman and chief executive officer of AMR Corp. and American Airlines, to its board of directors. "Southern Air is one of the most experienced and fastest growing air cargo carriers i...
WWL expands Europe/U.S. Gulf service Wallenius Wilhelmsen Logistics has added regular, direct calls to the ports of Santander, Spain; Veracruz, Mexico; and Cartagena, Colombia; as part of its Europe to U.S. Gulf service. This new service will offer shippers, freight forwarders and exp...
Report raises short sea shipping concerns The environmental group Friends of the Earth (FOE) last weekreleased a report detailing the environmental challenges associated with short sea shipping . "Short sea shipping has the potential to be greener than other types of freight transport. How...
Japan lines profit through 3 fiscal quarters Japanese container shipping lines "K" Line, MOL and NYK all reported improved financial results through three quarters of their fiscal year. "K" Line said its container shipping division saw operating profit of $383.8 million through the first nine...
OOCL 2010 revenue up 46% Liner carrier OOCL said last week in an operational update that its fourth quarter revenue grew 41.9 percent to $1.5 billion, compared to the same period in 2009. That growth was slightly lower than the container line's revenue growth for the whol...
Saadé returns as CEO, CMA CGM attains investment Saade French liner carrier CMA CGM said Friday it has formally ceded a 20 percent share of the company, worth $500 million, to the Yildrim Group, a Turkish conglomerate. The announcement comes two months after CMA CGM first finalized the deal, endi...
Keel laying at Rauma shipyard On January 31, 2011, the keel was laid for an Antarctic research and supply vessel ordered by the South African Department of Environmental Affairs at STX Finland Rauma shipyard. The
Esbern Snare rescued crew from Beluga vessel The Danish warship Esbern Snare rescued two crew members from the German owned heavy lift carrier Beluga Nomination, which last week was hijacked by Somalia pirates in the Indian Ocean
New HSC for Bornholm service launched in Australia The Austal shipyard at Henderson, Australia, has launched the HSC ferry (hull no. 246) for F'rgen A/S. The ferry will later this year officially be named Leonora Christina after
Clipper employees in tax trouble Around 200 employees at Clipper's Copenhagen office are facing fines and even imprisonment due to violations against the Danish tax legislation. The first case of many has recently been handled
Fears of more bankruptcies as rates slip Analysts say more shipping firms could fold as Baltic Dry Index falls to two-year low.
Fujairah market firm amid Suez concern IFO still unavailable in Durban.
Fuel oil cargo commands 'highest premium for five years' Buyer takes position that 'low density cargoes will be tight going forward'.
Prices firm in key ports The bunker market was very busy in Gibraltar.
High fuel costs are a 'driver for change' 'New technologies are entering the market, enabling novel designs to become reality,' says DNV.
Containership detained following oil spill Spokesman for Dominican Republic's environment agency says 'penalties' will be sought.
Slow steaming remains part of K Line strategy Company President warns of 'uncertain' economic outlook.
Asian bunker prices at fresh two-year highs Bunker supplies mostly "tight" at key Asian bunker ports, traders say.
Crew of vessels involved in illegal bunkering to face charges For transferring 14 mt of marine fuel oil without approval, according to Malaysian police reports.
SK Energy scraps heavy oil upgrading project Fall in supplies of bunker product in South Korea may not be as great as feared, traders say.
Bunker market last 'redoubt' of Asian fuel oil demand Demand for fuel oil diminishing from the industrial, residential and commercial sectors, says energy consultancy.
Sinopec (HK) to launch oil terminal in 2011 A quarter of the 2.08 million m' terminal will be used to store bonded fuel oil, when fully competed in 2012.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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