Weak iron ore demand may hit shipping rates Steelmaker demand for iron ore, the biggest source of cargoes for commodity carriers, is weakening, threatening to end the most profitable shipping rates in almost a year.
Strait Talk
The cost of protectionism COMPETITION, protection and how not to do it
Weak iron ore demand may hit shipping rates Steelmaker demand for iron ore, the biggest source of cargoes for commodity carriers, is weakening, threatening to end the most profitable shipping rates in almost a year.
Strait Talk
The cost of protectionism COMPETITION, protection and how not to do it
First Don-Bur high-volume trailer on the road for Wincanton Officials of the UK Department for Transport have approved controlled trials of high-volume trailers (HVTs), and Wincanton has been working closely with Don-Bur to design and manuf...
Vanguard with new Far East-Chicago services NVOCC Vanguard Logistics Services (Hong Kong and Los Angeles) has launched three new direct less-than-container load ocean services from Dalian, Shenzhen (both China), Tokyo and Yo...
Egyptair restarts services to Libya Egyptair has resumed flights to Benghazi that were suspended for seven months. The carrier will start operating four weekly nonstop flights from Cairo. According to the Libyan civi...
Gregory Tampas joins Globe Express Services Globe Express Services (Overseas Group), one of the world's leading global logistics providers, has appointed Gregory Tampas as president of the Americas. Tampas began his logistic...
NYK enters Brazilian cabotage business NYK is set to participate in the Brazilian cabotage business by acquiring 10% of shares in Maestra Navegacao e Logistica (Maestra) and two group companies. NYK and Maestra also agr...
Iberia transported 1,000 t of flowers in October The Spanish airline Iberia transported 1,000 t of flowers last month - twice the quantity of September and 5% up on October 2010. The roses, carnations and orchids came from Costa ...
New freight hub to be built in Cologne Häfen und Güterverkehr Köln (HGK) is building a new hub for railfreight transport in an industrial park in the north of Cologne. 400,000 teu per year will be to be handled on nine ...
DB Schenker Rail improving UK-Poland railfreight links Trading links between Poland and the UK are to be strengthened from November with the introduction of regular European-sized railfreight services by DB Schenker Rail. One train a w...
Daimler Trucks increases ebit Daimler Trucks continued its successful development in Q3 and increased its unit sales by 22% on the third quarter of last year, selling 115,600 vehicles. The division's revenue gr...
Marseilles Fos sees signs of growth The French port of Marseilles Fos recorded throughput of 66.4 million t in January-September - up by 1% on the first nine months of last year .A 6% rise in oil and gas volumes comp...
Wreckage of Asiana B747 found three months later The wreckage of an Asiana Boeing B747-400F that crashed into the waters off South Korea (see ITJ Daily of 29 July) has been found, almost three months after the incident. South Kor...
Arcelor Mittal Bremen and Stute to cooperate The Bremen plant of the leading steel group Arcelor Mittal has concluded an eight-year service agreement with Germany's logistics company Stute Verkehrs-GmbH. As part of this outso...
Spedlogswiss has three new members Spedlogswiss, the association of Swiss forwarding and logistics companies, has welcomed the companies Meyer & Meyer Logistics Services, Cargopack Geering and A. Hardrodt (Switz...
Groupe CAT acquires 50% stake in Carlson Vehicle Transfer Groupe CAT, one of Europe's transport and automotive logistics leaders, has completed the acquisition of a 50% stake in Carlson Vehicle Transfer (CVT), a growing car transport comp...
Grand China joins list of transpacific casualties Line suspends service after just six months
Aframax owners positioning ice-class ships for start of Europe's winter spike Hopes of rising Baltic and North Sea rates later this month influence chartering moves
Chinese manufacturing slowdown spells lower demand for boxships Freight rates out of China could fall even further as cargo volumes drop
Seaspan teams up with MSC Shipowner charters 4,800 teu ships to world number two line
Chongqing Marine sells half its fleet Small Chinese feedership owner now has only three ships left
Pacific capesize rates 'drop like a stone' Over $10,000 per day wiped from charter prices in three weeks as vessel demand falls
Iron Pasha and Grand China settle for now Chinese charterer claims case should not have been brought as Greek owner pockets half of hire arrears and lifts injunction
Greek chemtanker hijacked by Somali pirates Vessel thought to have been taken inside International Recommended Transit Corridor
States afflicted by West African piracy take action Countries join forces to cope with growing problem
Armed guards 'no quick fix' Concerns raised over the consequences of the widespread use of private security
Seaspan losses double in third quarter Rising revenues keep company optimistic
Fifth Frontline suezmax up for sale Last tanker bought in 2008 Top Ships deal reported up for grabs in secondhand market
Maersk Line expands broker pool for charter business Clarksons and Howe Robinson join Maersk Broker
Slow steaming VLCCs to 12 knots could boost fleet utilisation to 98% Longer voyage durations would absorb surplus tonnage, says ICAP Shipping
Able UK seals £2m aid for improved drydock gates Project will extend range of work that can be tackled at Seaton facility on Teesside
Modern VLCC prices at eight-year low Five-year-old ship values dip under $60m, according to Baltic Exchange assessments
Desperate times for tankers Without any likelihood of improving conditions, owners must take desperate measures
Drug smuggling on merchant vessels reaches a new high There have been nine seizures in 2011 to date compared to only two in 2009, LLI reveals
Insurance cover that owners prefer not to discuss Penalty and fine cover is quietly available to protect against a drugs incident
Q&A: Nigel Carpenter, Braemar Technical Services Braemar Technical Services' new joint managing director discusses what has gone into the company's creation
Gard ups premiums by 5% General increase is needed to keep in line with claim inflation, says club
New pirate threat from hacking ships Shipowners need to address chinks in their cyber-security armour
How Cosco will escape its financial quandary Cosco will never face a liquidity crisis, but it could face insolvency if the market stays low for too long. What will it do?
Dr Peters aframax arrested Product tanker DS Power held in Rotterdam
CMA CGM grounds reefer boxes Containers repaired by company where coolant explosion killed three
HNS convention short on support Only eight countries sign 2010 IMO protocol on hazardous and noxious substances
Mercator Lines profit dives 83% Company blames low spot rates, renewal contracts at lower rates and increased operating costs
Shipowners Club's claims increase 20% SMALL and specialised ship insurer the Shipowners Club has reported a one-fifth growth in claims, despite challenging conditions for members
Grand China also exits trans-Pacific GRAND China Shipping has joined some of its peers in withdrawing from the trans-Pacific box trade
OSG confirms crude hit AS PREDICTED, OSC today revealed huge quarterly losses, driven by plunging rates for its international crude tanker fleet
Stretch what you have, shipping told SHIPPING companies must commit to pushing sustainable development to win investment for new technologies, Harris Antoniou of ABN Amro Bank has told Fairplay
Tropical's losses mount TROPICAL Shipping announced another disappointing quarter today, as its Caribbean liner service continues to suffer from weak demand
Box service performance platform launched INTTRA, the ecommerce provider, today unveiled a new platform that offers stakeholders unbiased measurements of global performance by box services
113 migrants uncovered ITALIAN authorities have sent back to Greece 62 undocumented migrants they found hidden in a truck
P&I's shell game is over P&I CLUBS cannot continue booking losses in the underwriting business, then covering them with gains from investment deals, a senior leader in the sector has told Fairplay
Seaspan unveils fleet moves BOX SHIP lessor Seaspan today reported results in line with expectations and unveiled a new divestiture strategy for its oldest vessels
Japan LNG cargoes rise JAPAN has tripled its Atlantic LNG imports this year and demand is likely to rise further, analysts said today
Vietnam coal boom seen VIETNAM will import at least 51M tonnes of coal per year by 2025, the Platts Coal Forum in Singapore has been told
Oz coal expansions unveiled BHP BILLITON and Mitsubishi said today they plan to spend $4.2Bn to expand their Queensland coal mines
Cabotage changes aid BLT INDONESIAN tanker company PT Buana Listya Tama today announced a doubling of revenues, driven by government regulations
AltaGas acquires PNG CANADA'S AltaGas has acquired Pacific Northern Gas, a northwestern British Columbia natural gas distribution group
Mercator's profits plunge 83% MERCATOR Lines (Singapore) today revealed an 83% drop in net profits year on year for the three months ending 30 September
Oakland Port Pleads for Peaceful 'Occupy' Protest Port of Oakland executives are urging residents to balance exercising their right to freedom of speech with safeguarding the rights...
POHA's Moseley Talks Panama Canal Progress, Port Challenges in 2012 (Video) John Moseley, general manager of trade management at the Port of Houston Authority, gives his thoughts on the progress of...
Damco CEO Expects a Soft Market, Idled Ship Capacity in 2012 (Video) Rolf Habben-Jansen, CEO of Damco International in Denmark, discusses whether he thinks ship capacity will be withdrawn in 2012 and...
Freightcar America Doubles Revenue, Narrows Loss Freightcar America said growing demand for railcars more than doubled revenue to $130.1 million, but the equipment manufacturer said the...
Genesee & Wyoming Profit, Pricing Leap Genesee & Wyoming's net profit jumped 32.6 percent to $32.9 million in the third quarter, as the short line and regional...
Manufacturing Growth Slows, Orders Grow The pace of manufacturing growth in the United States slowed in October as the Institute of Supply Management's PMI fell...
Russia's Richest Man Buys Russian Railways Freight Unit Vladimir Lisin, reputed to be Russia's richest man, won the auction for state-owned Russian Railways cargo arm, Freight One, in...
Yusen Logistics Profit Falls, Revenue Jumps Yusen Logistics saw its profit fall 16.6 percent year-over-year to $22.91 million in the first half of fiscal 2011, which...
INTTRA Launches Carrier Performance Metrics INTTRA plans to launch a new tool on its e-commerce platform that will measure the delivery performance of ocean carriers...
House Snatches Away Funding Offset for Transport Plan The House of Representatives last week laid claim to a budget offset the Senate Finance Committee intended to use to...
Seaspan Loss Widens to $122.6 Million Seaspan's third-quarter loss widened to $122.6 million from $70.9 million a year ago, as the Hong Kong-based charterer was hit...
Cathay Takes First 747-8 Freighter Boeing delivered its first 747-8 freighter to Cathay Pacific Airways this week, making the Hong Kong-based airline the second carrier...
"K" Line Adds Intra-Asia Loop "K" Line added a weekly service called Jaseco-K connecting South Korea, the Philippines and Indonesia as a slot operator. ...
TAL also 'in the clover' in Q3 11 TAL International Group has followed its compatriot lessor CAI International, in announcing a very strong set of financial figures for its Q3 11 trading period. ...
Evergreen reshuffles Intra-Asia slings to tap into trade boom Taiwan's Evergreen is capitalising on the boom in Intra Asia trade by launching two new services this month (November) and involving a reshuffle of its loops.It ...
Markets in turmoil over Greek debt referendum The eurozone debt crisis entered another spine-chilling chapter today after a decision yesterday by the Greek government to call a referendum on bail-out imposed ...
Taiwan's shipping trio see Q3 results plunge Taiwan's trio of major ocean carriers have followed in the footsteps of other shipping lines and seen their financial results slide for Q3 this year due to the ...
Grand China suspends transpac service due to 'rate and volumes pressure'
Grand China Shipping (GCS) is exiting the transpacific trade after announcing that it is temporarily suspending its SPX service - only launched in April this year ...
New INTTRA platform to measure service integrity
NOL posts USD158 million nine-month loss The APL, container arm of Singapore-based NOL has seen its revenue and operating profit decline dramatically in the first nine months of this year, compared with ...
Zim and MSC in slot-swop deal on North Europe - Med Israeli carrier Zim Lines and Geneva-based MSC have concluded a slot-swap agreement on the Northern Europe - Mediterranean trade which the liners said would facilitate ...
Two clubs opt for rises of 5% Gard and Steamship Mutual reach same general increase decision amid deteriorating claims outlook and tougher financial climate.
GCS torches transpacific run Grand China Shipping says there is "no end in sight" to trouble in key containership market despite recent exodus.
Rowan pens third drillship US drilling giant prepares to splash over $600m to construct another drillship in South Korea.
Fairstar extends buy-back Fairstar Heavy Transport given more than a week to repurchase up to 10% of its own shares.
Greek woe bites Attica Athens-listed ferry owner sees nine-month loss increase as shipments are hurt by weak economy.
Tanzania considers dredging East African port could see major improvements if feasibility a study gets go ahead.
Zeeland defies downturn Dutch terminals group increases nine-month cargo throughput by 9%, thanks in part to oil shipments.
Sandpiper joins Eagle flock Eagle Bulk Shipping's seals charter for last of 27-vessels built under supramax newbuilding programme.
VLCCs find conversion buyer SBM Offshore thought to have taken at least one seized VLCC formerly owned by Wilmer Ruperti.
Novoship plunges into red Russian tanker owner loses nearly $37m in first nine months as it writes down shares.
ICAP plots speed solution Slow VLCCs to 12 knots and it could be 2004 all over again, broker says.
Massoel CEO steps down Michael Deslarzes prepares to abandon driver's seat of Swiss bulker owner to pursue mysterious new venture.
Shreyas stays in black Indian shipowner's third quarter profit much reduced as ballooning fuel bill eradicates gains.
Okean stymied on orders Ukrainian yard says two new ship contracts have been delayed by pension fund's bankruptcy suit against it.
GLDD slides in the third Nasdaq-listed dredging giant sees profit slip amid lower domestic activity but US remains key to growth.
Greek tanker hijacked Elmira Tankers' vessel the first to be snatched in the IRTC in more than a year, TradeWinds is told
Magnets? Sirens? Second ship aground near Tauranga A second container ship has run aground near the port of Tauranga where authorities are struggling to salvage the wrecked Rena. The 660-TEU Schelde Trader hit rocks after it lost power leaving Tauranga.
Rena salvors set for the long haul Salvage efforts on Rena, aground near Tauranga, were suspended Monday with sea conditions unsafe to continue. Ready for worst outcome, vents are plugged, boxes tagged.
Cargill urges governments to ban 'older' vessels 'Setting certain legislation around vessels' age could help and that's something for authorities to look at,' says Cargill executive.
SEAaT conference to look at emission abatement technologies Will examine how shipping companies choose abatement technologies and collaborate with solution-providers to reduce emissions.
IFO prices fall in Fujairah Wide range of offers in the market.
Technical report highlights operational problems of low sulphur fuel Issues reported include vessels stalling, starting difficulties, variable engine speed at low loads as well as problems running at full cruise speed.
Bunker prices fall Demand in Rotterdam said to be 'spotty at best'.
Time to prepare for global 3.50% sulphur limit Owners need to ensure the fuels they use are compliant with new MARPOL Annex VI limit from January 1, 2012.
Law firms merging Merger sees Clyde & Co, which has expertise in dispute resolution and shipping, grow to 27 offices worldwide.
Fuel testing firm launches 'SHIPCARE Marine Services Program' Offers bunker fuel testing, inspection, ship engine and lubricant analysis and advise for operators on off-spec fuels and regulatory issues.
Bunker prices dip at most Asian hubs Supplies of bunker fuel mixed at key Asian ports on Tuesday.
Partners complete feasibility project for LNG-fuelled containership LNG-fuelled cargo ships 'will be emerging on a large scale', says GL spokesman.
NuStar Q3 earnings 'better than expected' Company's net income at $59.8 million in Q3 2011 from $58.4 million in Q3 2010.
NOL posts quarterly losses of $91 million 'Increased fuel costs and lower freight rates' offset the higher volumes handled by the group's liner shipping business APL during the quarter.
Rising bunker prices push vessel operating costs up Lube expenditure and crew costs 'most likely' to see highest increases in 2011 and 2012, says Moore Stephens.
Harsh weather suspends salvage ops on Rena Vessel's hull sustained further damage from rough weather, says MNZ.
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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