VLCC owners will see H2 profits doubling: poll Owners of the largest oil tankers will see their earnings almost double in the second half of the year, from the first six months, on strong Chinese demand and rising Middle East exports, a Reuters poll showed.
Shipping contracts rise to 9-week high Capesize shipping contracts tied to the cost of transporting iron ore and coal rose to a nine-week high as traders speculate on a seasonal increase in cargo in the second half of the year.
Strait Talk
Downbeat mood in shipping IT SEEMS that the shipping industry is feeling less happy with itself than it has been for some time. The latest Shipping Confidence survey from shipping accountant and adviser Moore Stephens shows overall confidence levels in the shipping industry down for the fourth successive quarter in the three months ended May.
Shipping Times
Indian Railway to raise US$300m from bonds India's state railway is pushing ahead with a sale of dollar debt to meet surging demand for transport as the highest borrowing costs in a year cause a five-week drought in issuance.
Kabul eyes rail network to tap mining resources Afghanistan is building a vast rail network linking its borders to help attract investors to US$3 trillion worth of mining projects, including oil deals, that will drive economic growth, its Mines Minister Wahidullah Shahrani said on Monday.
VLCC owners will see H2 profits doubling: poll Owners of the largest oil tankers will see their earnings almost double in the second half of the year, from the first six months, on strong Chinese demand and rising Middle East exports, a Reuters poll showed.
Shipping contracts rise to 9-week high Capesize shipping contracts tied to the cost of transporting iron ore and coal rose to a nine-week high as traders speculate on a seasonal increase in cargo in the second half of the year.
Strait Talk
Downbeat mood in shipping IT SEEMS that the shipping industry is feeling less happy with itself than it has been for some time. The latest Shipping Confidence survey from shipping accountant and adviser Moore Stephens shows overall confidence levels in the shipping industry down for the fourth successive quarter in the three months ended May.
Shipping Times
Indian Railway to raise US$300m from bonds India's state railway is pushing ahead with a sale of dollar debt to meet surging demand for transport as the highest borrowing costs in a year cause a five-week drought in issuance.
Kabul eyes rail network to tap mining resources Afghanistan is building a vast rail network linking its borders to help attract investors to US$3 trillion worth of mining projects, including oil deals, that will drive economic growth, its Mines Minister Wahidullah Shahrani said on Monday.
VLCC owners will see H2 profits doubling: poll Owners of the largest oil tankers will see their earnings almost double in the second half of the year, from the first six months, on strong Chinese demand and rising Middle East exports, a Reuters poll showed.
Shipping contracts rise to 9-week high Capesize shipping contracts tied to the cost of transporting iron ore and coal rose to a nine-week high as traders speculate on a seasonal increase in cargo in the second half of the year.
Strait Talk
Downbeat mood in shipping IT SEEMS that the shipping industry is feeling less happy with itself than it has been for some time. The latest Shipping Confidence survey from shipping accountant and adviser Moore Stephens shows overall confidence levels in the shipping industry down for the fourth successive quarter in the three months ended May.
Shipping Times
Indian Railway to raise US$300m from bonds India's state railway is pushing ahead with a sale of dollar debt to meet surging demand for transport as the highest borrowing costs in a year cause a five-week drought in issuance.
Kabul eyes rail network to tap mining resources Afghanistan is building a vast rail network linking its borders to help attract investors to US$3 trillion worth of mining projects, including oil deals, that will drive economic growth, its Mines Minister Wahidullah Shahrani said on Monday.
TAAG postpones Beijing service resumption planned for today TAAG Angola has postponed the planned service resumption on Luanda - Beijing service. The new resumption date is scheduled for 2 August. Boeing 777-200ER will operate this weekly f...
Jungheinrich announces upgraded reach truck model Jungheinrich, the German supplier of warehousing technology, has introduced a new version of its best selling ETM/ETV 214/216 reach truck. The new model offers increased mast lifti...
Eco Rail Innovation: cooperation contract signed With the signature of the cooperation contract, the partners of the initiative Eco Rail Innovation (ERI) have now established the binding general conditions of their mutual work. E...
UPS and Merck expand their distribution and logistics agreement UPS and Merck, known as MSD outside the United States and Canada, today announced that the companies have significantly broadened their existing distribution and logistics agreemen...
RDC Aviation: new Sales Director Philip Jones is the new Sales Director of RCD Aviation, an aviation software business in Nottingham. Having initially progressed in his career at British Midland Airways, he later ...
UPS: freight transport grows UPS Freight, the US fourth largest LTL carrier, announced a general rate increase averaging 6.9% covering non-contractual shipments in the United States, Canada and Mexico. The rat...
South African railway operator places largest ever signalling contract with Siemens The South African railway company, PRASA, has commissioned Siemens with the delivery of signaling equipment and the construction of the "Gauteng Nerve Center" (GNC) opera...
Winter flight schedule Frankfurt Airport: airport coordinator allocates nightly slots to airfreight-companies According to the official planning approval of the Hessian Federal State Government with reservations to the decision of the Federal Administrative Court, the airport coordinator o...
"K" Line to start power saving campaign in Tokyo Kawasaki Kisen Kaisha, Ltd. ("K" Line Group) will start a campaign to save electric power consumption in its head office in Tokyo that includes introduction of in-house summer time...
APM Terminals wins "Best Port Operator in Africa" at Transport Africa Awards 2011 Johannesburg, South African based APM Terminals was named winner of the "Best Port Operator in Africa" award at the Transport Africa Awards ceremony held in Johannesburg, South Afr...
Rhenus Office Systems expands security archive in Hamburg Rhenus Office Systems GmbH has expanded their security archive of the Hamburg location. The archive of the expert for document logistics in a further building phase was extended by...
Macondo oil spill fallout spreads far and wide A perceived shortfall in international regulation has led to a search for local solutions
Marine insurance set to soar after 'acts of God' increase Earthquake-hit Port of Lyttleton tells investors it failed to renew cover on time
Ship recycling rates hinge on Bangladesh court decision Potential for scrap prices to fall if Chittagong breakers cannot import vessels and market competition declines
Northern Europe aframax rates rally Brokers optimistic that Baltic Sea earnings could return to three-digit Worldscale rates
Capesizes enter depression zone in Clarksons pain index Most other dry bulk and tanker sectors in recession
Star Reefers scraps second reefership it brought out of lay up in March The Scottish Star is following the same fate as sistership Canterbury Star
Three vessels chartered out on short period contracts Itochu and Tesoro take tankers for one to six month periods
UK ports line up to develop offshore wind power World's biggest offshore windfarm market will see $21m capital expenditure between 2011 and 2015
Best management practices are not good enough The shipping industry deserves better guidance in repelling pirate attacks
Graig in forefront of China newbuilding push A respect for Chinese culture and working practices has paid off for family-owned firm
Thenamaris heads new Greek LNG charge At least four other potential Greek LNG debutantes are talking with yards as noted Greek tanker owner clinches pair of 160,000 cu m vessels
APM Terminals takes control at new Callao facility Peru's largest port set for large-scale investment after handover of Terminal Muelle Norte
CSAV Asia-Europe service victim of falling rates Drewry and Alphaliner reports show mounting losses on key trade lane
Concerns raised over Humber pilotage standards Unions claim that Humber Estuary is seen by ABP as a money making enterprise that 'has threatened the personal safety of pilots and the safety of navigation on the river'
OceanFreight lifts share price in one-for-20 stock split Dry bulk specialist becomes third Nasdaq-listed shipowner in a fortnight to resort to reverse stock treatment
Hoegh LNG lists in Oslo Gas transportation and storage division issues 45m shares
NCC buys time over newbuilding option Reaches deal with Hyundai Heavy to extend deadline for option of a second car carrier
Big problems on the Asia-Europe trades The introduction of massive 13,000 teu -plus vessels has had a hugely detrimental effect while so much existing tonnage continues to also operate
Owners urged to protect themselves from China tax deductions Law firm advises insistence on tighter charterparty forms
Enforcement or blind eye Port inspectors already have their work cut out and the host of environmental rules coming in will increase their workload
Marco Polo Marine wins $8m Indonesia barge deal Batam-based shipbuilder has plans for bigger vessels
Mammoet management team quits over 'cultural differences' Van Seumeren family sells its 25% shareholding to privately held Dutch conglomerate SHV
Maersk Drilling exercises options for two drillships in $1.3bn deal Samsung Heavy Industries to build vessels similar to a pair ordered in April
Abbot Point port expansion attracts strong interest Queensland says 30 companies have expressed interest in developing terminals
Aker wins $50m contract for drilling riser system from Daewoo New order brings total units sold to South Korean builder to six
Coscol details $1.5bn fleet expansion Updated blueprint for new ships could see a total of 40 new vessels added by 2015
China, Ireland close $2.1Bn turbine deal CHINA'S Sinovel has closed a $2.1Bn deal to ship wind turbines to Mainstream Renewable Power of Ireland, IHS World Markets Energy reported today
Drewry sees collapse for box rates BOX RATES on east/west routes will drop by more than one-fifth during the rest 2011, even with volumes remaining strong, Drewry predicted today
TCC wins US shield A NEW YORK judge has approved Chapter 15 bankruptcy protection for TCC, new court filings showed
Strike hits Madagascar ports CUSTOMS workers at Madagascan ports are reportedly planning to expand their strike over illegal exports of rosewood from the island nation
APL expands to Joliet BOX CARRIER APL is expanding its intermodal capacity near Chicago to bolster its US transcontinental supply chain
Indian ports accessing foreign money INDIAN ports are increasingly seeking foreign credit through external commercial borrowings, Fairplay was told today
57 held in migrant smuggling cases GREEK authorities are holding 57 people after migrant smuggling arrests
Bank advises holders of Portek shares SINGAPORE'S port operator Portek's independent financial adviser has advised its shareholders to accept ICTSI's takeover offer
Rongsheng mega-deal trend? THE LARGE orders placed at China's Rongsheng yard are not likely to be mimicked by other owners, Fairplay was told today
Trucker held in Dover smuggling case A DUTCH truck driver has reportedly been jailed on suspicion of trying to smuggle nearly £6M ($9.7M) in illegal drugs through Dover's port
Camillo Eitzen sells Eitzen Gas NORWAY'S Camillo Eitzen announced today that it has sold nine vessels and stakes in companies
Bangladesh breakers again face closure BREAKING yards will be shut down in Bangladeshi on 7 July unless the government extends the operations approval it issued in May
Navy chopper foils pirates SOUTH Korea's navy has intervened to protect an STX Pan Ocean bulker when it was attacked by pirates off Somalia
Panamaxes near bottom? BROKERS told Fairplay today that Panamax rates might soon be bottoming out, after being pushed down for the past month, with the arrival of cheaper but bigger Capesizes
DHL Reported Dropping China Domestic Delivery DHL is dropping its attempt to build domestic express delivery services in China, according to a published report. ...
Econocaribe Provides EDI Track and Trace Online Econocaribe Consolidators is introducing a new function on its website that enables shippers to track and trace full containerload shipments...
USPS Freezes Bonuses, Retirement Contributions The U.S. Postal Service is suspending all executive and employee bonuses, and is withholding its contribution to the government retirement...
Diesel Price Slides Another 3.8 Cents The average price of diesel fuel fell for the eight time in the last nine weeks, sliding 3.8 cents a gallon...
Commerce Dept. Seeks Trade Mission Participants The Commerce Department is recruiting top-level executives to join a trade mission to Qatar and the United Arab Emirates between...
Air Cargo Prices Slip in May Air freight rates out of Asia slipped back 0.6 percent in May compared to the month before as carriers coped with...
Supply Chain Educator Donald Bowsersox, 79 Donald J. Bowersox, one of the pioneers in the science and practice of logistics and supply chain management, died Monday...
US Factory Orders Grow 0.8 Percent Factory orders by U.S. businesses grew 0.8 percent in May, the Commerce Department said Tuesday in a report that suggests...
CMA CGM to Launch Asia-Fiji-New Zealand Loop CMA CGM will launch of a new service this month connecting Asia, the Fiji Islands and New Zealand effective July...
Analyst Says Large Ships Threaten Smaller Carriers Smaller vessel operators could be forced out of Asia-Europe container trade lanes as the deployment of ultra-large container ships puts...
Hyundai Hikes US-South America Rates Hyundai Merchant Marine will raise rates southbound container shipments from the U.S. to the East Coast of South America effective...
Crowley Acquires Puerto Rico Freight Services Crowley Maritime is bolstering its logistics capabilities in the Caribbean with the acquisition of Puerto Rico Freight Systems, a company...
Container Truck Drivers Strike at Indian Terminal A sudden strike by container truck drivers Sunday morning crippled cargo movements to and from the Vallarpadam International Container Transshipment...
US Airlines Challenge EU Cap-and-Trade Plan U.S. airlines launched a legal challenge Tuesday to European Union plans to charge foreign carriers American Airlines, United...
APM Rotterdam Introduces Barge Shuttle Service APM Terminals has introduced a barge shuttle service to its Rotterdam terminal to avoid worsening traffic jams caused by construction...
Wallenius Deploys Armed Guards Against Pirates Swedish shipowner Wallenius Wilhelmsen Lines is placing armed guards to protect its vessels from attack by Somalia-based pirates in the...
Drewry Forecasts 21 Percent Drop in East-West Rates Drewry Maritime Research is forecasting average east-west ocean freight rates will fall 20.8 percent this year from 2010 as the...
CSAV Suspends Asia-Mediterranean Service CSAV is suspending its service between Asia and the Mediterranean amid sharply declining rates on Asia-Europe trade lanes. ...
UASC Opens Shipping Agency in Pakistan United Arab Shipping Company opened its own shipping agency in Pakistan in a joint venture with its erstwhile third party...
New rights issue CSAV raises $500 million Chilean container shipping company CSAV said last week 85 percent of a new rights issue had been subscribed and paid, producing a sum of $430 million. CSAV to pull Asia/Med loopLiner carrier CSAV said Monday it would suspen...
Carriers own fault?
CSAV raises $500 million Chilean container shipping company CSAV said last week 85 percent of a new rights issue had been subscribed and paid, producing a sum of $430 million. "The great interest of the shareholders in the first round in subscribing for the remaining shar...
CSAV to pull Asia/Med loop Liner carrier CSAV said Monday it would suspend a standalone service linking the Far East and Mediterranean due to "the unfavorable economic environment affecting the trade." Freight rates from Asia and Europe are reportedly well below sustainable ...
Sekimizu new IMO secretary general Koji Sekimizu of Japan was elected secretary-general of the International Maritime Organization last week. His four-year term will begin Jan. 1, 2012. Sekimizu, 58, is director of IMO's Maritime Safety Division. He studied marine engineering and na...
CMA CGM buys more 'eco' containers Liner carrier CMA CGM said Friday it has purchased 18,000 new "eco-containers," as it tries to transition to a fleet of more environmentally sensitive shipping equipment. The French line said it now has a fleet of 140,000 TEUs worth of such contai...
Drewry: Layups the only answer Widespread laying up of container vessels by liner carriers is the only way to redress floundering ocean freight rates on key east/west trades, according to London-based Drewry Shipping Consultants. In Drewry's latest quarterlyContainer Forecaster...
Eimskip doubles North American frequency The Icelandic shipping company said it will add a second ship on July 15 so that it can offer a second sailing per month between Iceland and United States and Canada. The 700-TEUSkogafosswill sail in a rotation of Reykjavik, Argentia, Boston, Arge...
OW Bunker opens in India OW Bunker, which handles more than 8 percent of the global bunker market, has opened an office in Mumbai, India. OW's core activity is the global sale of bunker both from its own inventories, where it operates more than 30 large and small tankers i...
Cargoitalia makes management appointments Italian all-cargo airline Cargoitalia has appointed Richard Mohler to the new position of manager of network planning and revenue management. He will be responsible for evaluating new routes, and setting revenue targets. Mohler has spent 16 years ...
Fujairah prices fall Durban market generally soft.
Rotterdam market softens Healthy demand in Piraeus.
Study predicts sharp increase in future Arctic shipping emissions Compared to 'the business as usual case' there will be a reduction in global fuel consumption due to a shorter transit.
Container sector in 'dire need' of correction Failure to run their business profitably is fault of 'the carriers themselves,' says Drewry.
Pirate 'bunker hub' off Yemen Island base has been used 'for months, if not longer'.
Environmentalists call for speed limit Move would 'save fuel and cut emissions.'
IBIA regional manager retires Chong Kam Wah was 'one of the architects' of IBIA's Asian expansion.
Asian bunker prices on downtrend Sluggish demand at key Asian bunkering hubs on Tuesday.
The rise to peak oil If peak oil is around the corner, we had better do more than agree on pollution thresholds or put in place silly carbon tax and cap and trade schemes.
Bahrain LNG terminal could create new marine fuels market Bahrain's first LNG terminal to start operations by end of 2014.
Manager exits Sri Lanka-based bunker supplier Channa Abeyagunewardena of Lanka Maritime Services leaves post.
Green ship first to run on liquid biofuel Liquid biofuel to be sourced from raw fish material.
Sinopec Zhoushan expands regional coverage from Yantai port Company able to cover Penglai, Longkou, Laizhou and Weihai from Yantai port.
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