Panamax rates seen rising on grain demand Rates for panamax dry bulk carriers on key Asian freight routes are expected to rise next week on strong Chinese demand for US grains, shipbrokers said yesterday.
Baltex gets regulatory nod, will begin electronic trading soon The Baltic Exchange has won UK regulatory approval to run a platform for centralised electronic trading of dry freight derivatives, which will go live shortly with support from some brokers, the exchange said.
Vietnam approves plan for new Long Thanh airport The ministry of transport in Vietnam has approved a general plan for the Long Thanh International airport (LTIA) project in Dong Nai Province (cf. ITJ Daily of 18 November 2010). J...
Spanish partners unveil algae-based bio-fuel production project The Spanish government, the national airline Iberia, the airport and air traffic control agency Aena, and the technological company AlgaEnergy, unveiled a microalgae-based biofuel ...
Combronde takes over Bettoli in France Combronde, a company that focuses strongly on traffic to/from Italy, is taking over the French enterprise Bettoli and its fleet of 35 vehicles and 40 trailers. Bettoli, an ail...
Transfracht boosts capacities to/from German seaports After the reorganisation in Austria, TFG Transfracht has boosted capacities to/from the Vienna terminal with immediate effect. The booking possibilities for export shipments from t...
USA: seven railway and transport companies get Transcaer award The USA's Transportation Community Awareness and Emergency Response (Transcaer) has recognised seven rail transport and chemical companies that are helping communities...
Knorr-Bremse opens HVAC facility Knorr-Bremse in UK has renamed Sigma Coachair's UK business as Knorr-Bremse Rail Systems (Burton) Ltd and moved its UK rail heating, ventilation and air-conditioning activities (HV...
Alaska Railroad reports stronger-than-anticipated revenues for 2010 The Alaska Railroad Corporation (ARRC) has reported stronger-than-anticipated revenues for 2010, with USD 13.4 million net income on total revenues of USD 167.1 million. One key to...
Daimler sees truck sales jump Daimler AG has reported that its first-quarter profit jumped due to higher truck sales. The operating profit of the German company's trucks unit more than tripled to EUR 415 millio...
Alaska West Express named Alaska's safest truck fleet The US road haulier Alaska West Express has received the Alaska Safe Truck Fleet of the Year Award for local cartage from the Alaska Trucking Association (ATA). Alaska West Express...
El Al goes e-freight live El Al Israel Airlines is the 34th airline to join the worldwide league of e-freight live airlines that offer paper free air cargo. The airline completed its first paperless cargo s...
Gulf Air appoints new chief commercial officer Gulf Air, the national carrier of the Kingdom of Bahrain, has appointed Karim Makhlouf as chief commercial officer. Makhlouf joined Gulf Air in October 2010 as director commercial ...
HHLA: high-tech protecting the climate Hamburg-Altenwerder has the most highly automated and the most electrified container terminal in the world. Both bring considerable benefits for the environment. The need for more ...
OWL's Warsaw office offers shippers access to largest airport in the region Ocean World Lines (OWL), a global, single source NVOCC (non-vessel operating common carrier) and a subsidiary of Pacer International, recently opened its third office in Poland. Th...
Port of Zeebrugge detects contaminated container from Japan A container that arrived at the port of Zeebrugge (Belgium) on 3 May triggered an alarm when it passed through the fixed radioactivity monitoring portals. These control facilities ...
DHL Express wants to sell its domestic Canadian business DHL is to pull out of its domestic express operations in Canada, with DHL Express concentrating on international express deliveries to and from Canada. The company has agreed to se...
Panalpina with solid start in 2011 The Basel (Switzerland)-based service provider Panalpina reported strong double digit growth in profitability and volume increases in air and ocean freight in Q1/2011,...
BLG back on growth course again The Bremen-based German logistics service provider BLG is growing again after a weak fiscal 2009. When presenting BLG's results for 2010, the company's CEO, Detthold Aden, said tha...
Baden-Wuerttemberg new SPC member The German state of Baden-Wuerttemberg has joined the sponsor organization of the Short Sea Inland Waterway Promotion Center (SPC), based in Bonn. The news was recently announced b...
Jet fuel rates from Middle East to Europe skyrocket Shortage of available vessels for cargoes of jet fuel pushes rates well above levels seen just a couple of weeks ago
Dragnis charters out LR1 at 15% above benchmark
Tsakos books 10-year fixture for suezmax Tsakos Shipping has chartered out the 2011-built, 158,000 dwt suezmax Spyros K for 10 years at $23,000 per day, according to London-headquartered shipbroker Clarksons
Products sector set to soar, says Navios Acquisition Angeliki Frangou-led owner sustained by cash from VLCC fleet in early stages of offshoot tanker business
Owners look to cash in on global LNG boom Import growth of 30% to 2015 will outpace fleet growth, giving scope for higher charter rates
Glencore prospectus shows position as leading charterer Commodities giant runs a sophisticated ocean freight and logistics division, but its freight desk reported substantial losses in past two years
Textainer orders $500m of boxes as demand remains high First-quarter revenues rise 31% to $91m
Borrowers forced to tap new sources as Basel III kicks in Tougher capital rules for banks will make debt less readily available as a source of finance for shipping companies
D'Amico looks for improvement in second quarter Reports $4.8m loss but says demand is increasing
Freight derivatives: jury still out The second of a two-part series explaining how box derivative paper products work
Forwarder's guide to box freight derivatives
Clearing versus OTC trading
Are paper products the answer to turbulent markets? Opinion is split on whether derivatives could help eliminate price volatility from container trades
Ocean Rig secures funding for drillships Restructured finance deal brings Dryships subsidiary closer to gaining independence
Offshore boost for US links to Brazil Much of construction work on Bondini PSVs likely to take place in the South American country
Natural gas to step in to fill nuclear breach Governments continue to question their future nuclear commitments following the disaster in Japan
North Europe producers kick up sulphur fuss Manufacturers complain about lack of fairness in the IMO's low sulphur rules
Producers step in to fulfil Japan's LNG needs Qatar, Indonesia, Malaysia and Russia prove their ability to meet demand growth
Seaspan confirms further newbuilding plans In talks with Chinese and South Korean yards over additional vessels
Zeebrugge radiation alert halts containers from Yokohama Belgian nuclear agency discovers low-level contamination in fine dust on outside of box
Capital Product to merge with Crude Carriers Evangelos Marinakis-headed tanker companies to form diversified, eighth largest US-listed tanker fleet
Increase in uptake for Ireland's tonnage tax scheme More join in 2010 than the previous year
Doubt over consolidation in shipmanagement Wallem's Jim Nelson says mergers and moving into China are both fraught with difficulties
Maersk Broker Asia signs co-operation pact with Sinosure Agreement to develop shipping-related financial services
China's chains on ship finance With banks restrained by Basel III, China's under-regulated lease financing market may accelerate to supply funding for growth-hungry shipowners and shipyards
Opening the box Wider choice of container freight trades indices could provide greater transparency in an industry that is often hard to fathom
Navios Acquisition underlines faith in products market Angeliki Frangou-led owner sustained by cash from VLCC fleet in early stages of offshoot tanker business
Concern over bunker fuel quality DNV Petroleum Services in Singapore survey finds 94% of operators reported problems with bunker deliveries in 2010
Seaspan misses mark GERRY Wang-led Seaspan today reported lower profits than expected and remained quiet about talks on newbuildings
Navios narrows tanker losses ANGELIKI Frangou's tanker venture today logged another loss but plans to exploit the improving products trade with newbuildings
US mulls spill liability SHIPOWNERS found liable for major spills in US waters would face drastic new liability limits under a US Senate proposal
California pilot pay proposal assailed A LINER group has repeated that a proposed pay raise for pilots, now approved by a state board, would staunch box sector growth in the San Francisco area
Evacuees reach Benghazi A FERRY reportedly reached rebel-held Benghazi today with about 800 Libyans and others who had been evacuated under fire from Misurata
New box index unveiled CARGO owners and liner operators in the box trades will be offered wider possibilties for freight spend and income hedging with the unveiling today of a new set of benchmark indices
PEMEX terminal closed A STORM has forced Mexican oil giant PEMEX to close an oil export terminal, but it has not affected crude cargoes to the US, Fairplay was told today
Koreans ratify EU accord SOUTH Korean parliamentarians have ratified a free-trade agreement with the EU, IHS Global Insight reported today
Turkey mulls fee rise for Bosporus TURKEY reportedly said today it might raise fees for transiting the Bosporus to encourage shipowners instead to use its planned Canal Istanbul
First Nord Stream gas leg completed NORD STREAM told Fairplay today that the first leg of its Baltic gas pipeline scheme has been finished
Jaccar doubles Eitzen Ethylene stake INVESTMENT company Jaccar plans to take up its option to double its 40% stake in Eitzen Ethylene Carriers at the end of next month, Fairplay has been told
BV marine revenues decline slows FRENCH classification society Bureau Veritas has reported a slowing in the decline of its marine revenues during the first quarter
Courage maintaining its purchase plan THE CHAIRMAN of Singapore-listed Courage Marine told Fairplay today that the drybulk carrier is still keen on fleet expansion, despite cancelling its planned Hong Kong IPO
Höegh seeks $200M for FSRUs NORWAY'S Höegh LNG has announced a private placement to raise $200M for investment in two new floating storage and regasification units
VLCC owners wait on holidays THE LONG holidays in Japan have increased VLCC owners' anxiety
Obama Draft Plan Eyes VMT, Interstate Tolling The Obama administration has been floating draft language for surface transportation legislation that could lead to a tax on vehicle...
Wilmington's Nine-Month Box Volume Up 16 Percent The volume of containers handled by the Port of Wilmington, N.C. increased 16 percent year-over-year in the first nine months...
Freight Index Shows Slower Growth Growth in freight shipments and payments slowed in April, indicating constrained consumer spending and near-term slowing of the economy, the...
California Assembly to Vote on Port Trucker Classification Labor interests in California are taking the battle over the job classification of drayage truck drivers to the State Assembly...
Pirates Seize Ship, Damage Second Vessel Pirates seized a bulk cargo carrier with 24 Chinese crew members and damaged a container ship owned by Evergreen Marine's...
China Shipping, United Arab Enter Slot Swap Agreement China Shipping Container Lines and United Arab Shipping Company entered a slot swap agreement for their services operating on Asia-Europe...
Easter Boosts Retail Sales Retailers reported strong April sales that were boosted by pre-Easter sales but tempered by bad weather and signs that rising...
Drewry, Cleartrade Launch Global Container Rate Index Drewry Shipping Consultants and Cleartrade Exchange on Thursday unveiled a global index of freight rates they said can be used...
Pacific International Expands Trans-Pacific Service Pacific International Lines is expanding its China Transpacific service to connect Long Beach with ports in Australia and New Zealand....
Committee Considering Bill to Streamline Background Checks The House Homeland Security Committee on Wednesday took testimony the MODERN Security Credentials Act, which proposes that a card applicant...
Mica Eyeing Late May Completion Date for FAA Bill John Mica, R-Fla., chairman of the House Transportation and Infrastructure Committee, expressed confidence on Thursday that Congress will complete a...
Surface Transport Bill Drafting in Progress, Mica Says Congressional staff on the House Transportation and Infrastructure is making progress drafting legislative language of what could become the panel's...
Saia Increases Profit, Boosts Revenue 15 Percent Higher tonnage, shipments and pricing drove less-than-truckload carrier Saia further into the black in the first quarter, with a net...
Mississippi River Open for Navigation Despite Flooding Navigation continues as normal on portions of the flooded Mississippi River, although there will be a temporary closure of the...
Covenant Transportation Loses $2.5 Million Winter weather, low West Coast demand and rising costs contributed to a $2.5 million first quarter net loss at truckload...
Seaspan Posts $50.5 Million Profit Container ship owner-charterer Seaspan reported first quarter profit of $50.5 million as its expanded fleet pushed revenue up 50 percent...
UASC adds Asia-US Peak Season Surcharge United Arab Shipping Company will implement a peak-season surcharge for all cargo shipped from Asia to the U.S. East Coast....
Expeditors' Net Soars 49 Percent Expeditors International of Washington saw net profit soar 49 percent in the first quarter to $91.2 million as the freight...
Roadrunner Profit Soars 350 Percent Strong demand and higher prices lifted first quarter revenue 20 percent for less-than-truckload and truckload operator Roadrunner Transportation Systems. ...
Etesco open for business Brazilian offshore operator distances itself from bankrupt owner of ageing drillship.
Petrobras picks Olympic Brazilian energy giant turns to Norwegian offshore owner for a pair of four-year charters with options.
CPLP plots next move Five crude carriers will be pulled from the spot market if shareholders green light consolidation of Marinakis empire, CEO says.
Citadel saves Cosco bulker Chinese ship caught up in 2009 Norwegian oil spill narrowly avoids hijacking in the Arabian Sea.
Marinakis stuns the Street Shares of Capital Product Partners plummet while Crude Carriers soars as investors digest merger plot and $98m bulker buy.
Seaspan back in black New York-listed containership owner returns to profit in first quarter as ship utilisation rises.
Marinakis' surprise merger Greek heavyweights Capital Product Partners and Crude Carriers Corp combine to create the eighth largest US-listed tanker owner in the world.
D'Amico in tanker swoop D'Amico unmasked as the buyer of a vessel from stricken compatriot.
Uljanik ready for hand-out Croatian shipowner to pay $6.6m to investors following big 2010 profit.
Insurance future lies with clubs Standard Club's John Reily says club structure well placed to fight any renewed P&I challenge from commercial underwriters.
D'Amico sinks further Rome-based owner sees earnings drop by over $1m during difficult start to the year.
Navios Acquisition in line No surprise on Wall Street as Angeliki Frangou-led tanker owner books a loss in the first quarter.
Horrible for Hornbeck US offshore vessel company plunges to loss as revenues drop in weak markets.
New box swap indices Drewry and Cleartrade Exchange unveil "global" index in effort to stimulate container derivatives trading.
Golden opening RS Platou Markets places a buy tag on John Fredriksen's Golden Ocean following recent share slump.
SBM revenue slips Dutch FPSO specialist blames turnkey services for 5% drop in turnover.
Insurance future lies with clubs Vasilis Bacolitas sees the P&I clubs as the organisations that will come to dominate the marine insurance market.
Evergreen ship hit Three rocket propelled grenades fired during attack on container vessel in the Arabian Sea leave their mark.
DHL launches China/Russia rail service DHL Global Forwarding said it has launched daily continental rail service from China to Russia and the Commonwealth of Independent States with shorter transit times and lower cost than ocean and air transport. The service will consolidate shipments...
Emirates Shipping Line sets up Taiwan agency Emirates Shipping Line said Wednesday it is opening a representative agency office in Taiwan to support its operations linking the Far East with the Indian Subcontinent, Middle East and Africa. Emirates, a Hong Kong- and Dubai-based line, is partne...
MSC to raise India/East Africa rates Mediterranean Shipping Co. said this week it is raising rates on the trade from India to East Africa by $100 per TEU, effective May 16....
MSC hikes bunker fees on several trades Mediterranean Shipping Co. said this week it is raising bunker surcharges on a number of trades as of June 1. The new bunker recovery rates are: From Asia to Europe, $755 per TEU. From East Coast South America to North America, the Caribbean, W...
Rickmers upgrades India/Europe service Rickmers-Linie, a German-based liner specialist for project and heavy-lift cargo, said it is upgrading its Indian service with the addition of new vessels. It will also provide a direct service eastbound and westbound between Europe and India, alth...
Hapag-Lloyd splits NWX, Loop B services German container line Hapag-Lloyd said in a customer notice it is decoupling a long-line service between Europe, the Far East and Pacific Northwest. The line said this month it is changing its NWX/Loop B service into a pure transpacific service be...
UASC secures $140 million loan from Kuwaiti bank United Arab Shipping Co. said Wednesday it has garnered a $140 million senior term loan facility with Gulf Bank in Kuwait. "The proceeds from this transaction will be invested in UASC's growth and network expansion plans as a leading container shi...
Drewry, Cleartrade partner on container index Drewry Shipping Consultants has partnered with the Cleartrade Exchange to develop a weekly container index to be used by physical and derivative market participants to manage freight risk. "The index will report individual market prices on major e...
National Export Initiative
South Korea, Colombia, Panama White House rolls trade agreements forward The Obama administration will begin technical discussions Thursday morning with key congressional staff on the draft implementing bills and draft Statements of Administrative Action for the pending trade a...
Fujairah and Durban markets stable Deliveries were available for supply up to and including May 19 in Cape Town.
European markets fall Players says it's 'impossible' to get products in Rotterdam before Tuesday.
O.W. Bunker says fuel procurement 'perfect' for outsourcing Sales Development Manager tells Athens conference that outsourcing is a 'natural evolution'.
Oil majors a 'block' to the wider use of biofuels Leading player in the international transport sector says oil companies are green 'but only in their advertising.'
Danish ferry industry predicts 2015 closures Low sulphur requirements could lead to 50% increase in ticket prices, pushing large numbers of lorries onto Danish roads.
Fall in fuel oil stocks as arbitrage arrivals slow Singapore stocks expected to rebound in the weeks ahead.
Fuel oil futures contract falls to just two lots Singapore platform for 380 cSt fuel oil futures suffering from 'poor liquidity.'
Athens: 'Problems become opportunities' Bunkerworld conference looking for opportunities as markets seek relief from 'the perfect storm'.
Bunker prices fall in Asian markets No indications for Busan and Tokyo due to public holidays.
Vessel forecasting system saves up to 10% fuel System allows 'new dynamic approach to voyage planning,' says Amarcon.
Indian port to upgrade bunkering facilities To set up a new jetty for bunkering of vessels, says port authority.
K-Line returns to full-year profit But warns that rising bunkers may result in lower earnings in the current fiscal year.
Glencore exits Singapore's MPA accredited supplier list Staff from Glencore and MPA confirm move.
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