Sri Lanka aims to catch up as shipping hub Sri Lanka aims to create an Asian shipping hub capable of competing against Singapore and Dubai by pouring US$3.4 billion into expanding ports with Chinese help, after the island's container volumes surged to a record.
Consolidation in liner industry hits record high Consolidation in the liner industry has surged to a record high as small start-up carriers find it increasingly difficult to compete against Maersk Line and other majors, an industry consultancy group said.
Virginia pursues modern-day pirates The state of Virginia, which last tried a pirate in 1819 and prosecuted Blackbeard's crew 300 years ago, has become the US centre for trying Somali pirates captured by the US Navy off the Horn of Africa.
Allcargo Global Logistics Ltd attains first OHSAS certification
Cargotec prepares for the future with Port 2060
CFS Associations rejoinder to Capt. P. S. Raths article The notoriety behind detained or seized cargo which appeared in the latters Maritime Musings column on July 12
Libyan oil production in 2011 to stay at 200,000 bpd Aframaxes in Mediterranean can expect little change in cargo availability, according to IEA
Box charter market 'dead' as service cuts hit demand Falling demand for vessels leads to continuing decreases in containership charter rates
Stealthgas charters out five ships Stealthgas has chartered out five of its liquefied petroleum gas carriers at rates that the Greek company claims will bring in $300,000 per calendar month
Rush to fix VLCCs for end-July loadings The availability of very large crude carriers in the Middle East Gulf shrank by as many as 12 vessels today, as charterers rushed to book vessels for end of July loading dates before the August programme kicks off at the end of this week
Finance: the worst is still to come Shipping is underfunded, but opinion is split as to whether bankruptcies will rise
Hedge funds jump on the ship finance bandwagon 'Alternative finance' is reappearing because it scents blood...
Leading nations out of step on economic management The US, China, EU and UK's varying responses to inflation and interest rates have implications for trade growth and shipping finance
Cruise line and offshore sector help lift syndicated loans market Dealogic figures reveal deals worth nearly $18bn in the three months to end-June
UK economy still struggling to recover Growth in manufacturing slows as orders fall, consumer demand weakens and a poll of businessmen reports falling optimism
Time for reality to intrude into ISPS Ten years of bad treatment of seafarers and those with legitimate reasons to visit ships is enough
How The Containership Co stumbled in shipping's eternal waltz Carriers and shippers will continue playing competitors off against each other in the hunt for more desirable rates
Investment in shipping once again on the menu This year's TOC in Antwerp had the usual hot air, but the wares on display were pretty cool
Research on big companies' credit standing brings industry-wide relief Lloyd's List Intelligence finds large shipping outfits still paying bills on time despite current gloom
Scorpio charters in two product tankers to grow fleet to 19 Move comes as $137m term loan is converted to revolving credit facility
Brussels and Germany reviews plan for rescued HSH Nordbank Ship financing likely to be hit by as much as $5.7bn as bank's balance sheet is reduced
Drewry predicts peak season containers shortage Chinese box makers forcing up prices by constricting production in the face of strong demand, says Container Census report
More consolidation please The 20 largest carriers control 84% of global market, but consolidation needs to be faster
Omega Navigation wins early victory in Chapter 11 case Court's interim order rejects senior creditors' opposition to carve-out of $1m to pay professional fees
TS Lines and Hainan Pan Ocean chop transpacific service Move is the latest in a series of capacity removals on Pacific routes
TransContainer posts 18% rise in volumes Strongest growth in operator's international traffic, with imports up 31% in same period
Twelve bidders shortlisted for Vizhinjam port project Agency set up by the Kerala state government in southern India expects to begin selection process next month
VLCCs to join Brightoil fleet just as new oil storage comes on line Five 318,000 dwt tankers will be delivered from the middle of next year as Dalian and Zhousan facilities enter production
Brightoil Petroleum outlines its game plan for upstream integration Bunker specialist has $3bn to invest in an offshore or onshore 'China friendly' project
What will Mitsui do with Portek? Now that we know the identity of the mystery bidder that hijacked ICTSI's attempt to acquire the niche port company, the interesting question is Mitsui's intentions
Singapore box volumes fall 3.5% in a month Decline confirms anecdotal evidence of soft start to what is usually a strong period
US retailers' caution flattens import box volumes Ports handled 1.3m teu in May ' just 1% higher than one year ago
Hamburg Süd trims Europe/Med service GERMAN box line Hamburg Süd said today it has decided to close one of its two North Europe/Eastern Med services
Oz carbon tax seen adding to shipping costs AUSTRALIAN miners are reportedly concerned about the impact of the country's new carbon tax on shipping
Liners push alternative on ship emissions BOX LINES are pressing the IMO to reject emissions trading and bunker levies in favour of a vessel-specific fuel efficiency scheme
Pirates attack Iranian ship A BULKER has reportedly evaded a pirate attack with the help of Iranian warships
Scorpio expands further NYSE-listed Scorpio Tankers today announced two more additions to its fleet via charter-ins and significant amendments to its credit facility
Third Bohai spill revealed CNOOC has had a third oil spill in less than two months in eastern China, which could spark construction of more clean-up vessels, IHS World Markets Energy reported today
Nokta returns to Dahlman RESPECTED shipping analyst Omar Nokta has returned to Dahlman Rose after briefly quitting in late June, Fairplay confirmed today
Squeeze-week seen for VLCC owners BROKERS told Fairplay today VLCC rates are softening, with crude price fluctuations making crude traders cautious
Glencore forms South Sudan oil JV COMMODITY trader and producer Glencore has formed a joint venture with Nilepet, the oil company of the newly independent South Sudan, IHS World Markets Energy reported today
Italy LNG terminal moves closer ITALY'S industry ministry has approved the construction of a LNG regasification terminal on the country's Adriatic coast, IHS World Markets Energy reported today
Shell restarts in Nigeria SHELL HAS lifted force majeure on its Bonny Light crude shipments from Nigeria, IHS World Markets Energy reported today
Vladivostok volumes fall RUSSIA'S port of Vladivostok on the Sea of Japan has reported a throughput drop by 7% year on year, to 3
Panamax standoff warned BROKERS told Fairplay today oversupply of Panamaxes is depressing business for ships out of northern China
VLCC rates hurt NSCSA NSCSA has blamed falling VLCC rates for its 31% year-on-year drop in profits in the second quarter
Keppel Philippines Marine plans delisting KEPPEL Philippines Marine is withdrawing from the Philippine Stock Exchange by delisting its shares
Sea Star To End Philadelphia-Jacksonville-San Juan Service Sea Star Line on July 22 will suspend its weekly service connecting Philadelphia; Jacksonville, Fla., and San Juan, Puerto Rico,...
Michael Dukakis on Transportation Bill (Video) Michael Dukakis, was keynote speaker July 11 at the Transportation Research Board's summer meeting in Boston. Since leaving public service,...
Truckload Shipping Volume, Rates Rose in June Truckload shipping volumes increased 2 to 3 percent in June from the previous month, with rates rising 4 to 5...
CSX Boosts Capital Spending By 10 Percent CSX Transportation is increasing its capital spending plan for this year to $2.2 billion, up from an initial $2 billion,...
Shipwire Gains Investment from eBay, Newell Rubbermaid Internet marketplace firm eBay and consumer products manufacturer Newell Rubbermaid have taken stakes in Shipwire, a logistics outsourcing firm that...
Navy Official Calls for a Fleet of Dual-Use Marine Highway Ships A fleet of commercial medium-sized, medium-speed ships could fill the demand for vessels for marine highways operations, and provide the...
Pirate Attacks Grew 36 Percent in First Half 2011 There were 36 percent more international pirate attacks in the first half of 2011 compared to the same period in...
DOT Freight Index Hits Six-Month Low Freight carried by for-hire transportation carriers declined 1.8 percent in May from April to its lowest level since November, the...
Long Beach Container Imports Rise 3.5 Percent Containerized imports at the Port of Long Beach increased 3.5 percent in June over the same month a year ago,...
YRC Worldwide to Draw $255 Million on New Loan YRC Worldwide expects to draw $255 million from its new $400 million asset-based loan to help repay its existing asset-based...
California Exports Up 10.5 Percent in May California's exports increased 10.5 percent in May, marking the 19th consecutive month of year-over year gains in the export trade....
TransContainer's Second Quarter Traffic Up 14 Percent TransContainer, Russia's largest rail container operator, boosted second quarter traffic by 13.9 percent compared to last year, as export volume...
Mitsui to Make Offer for Portek International Japanese trading house Mitsui & Co. said Wednesday it will launch a tender offer for Portek International. a Singapore-based international...
Hamburg Sud to Cut Europe-Turkey Service Hamburg Sud will cut one of the services it operates between North Europe and the eastern Mediterranean in another sign...
Truckers Moving at Rapid Pace at Hamburg Self-Service Terminal Truckers are checking in ocean containers at a Hamburg terminal in an average of 130 seconds thanks to a recently...
Box Ships Inc. Buys $55 Million Panamax Ship Container ship owner-charterer Box Ships Inc. will buy a Panamax vessel with capacity for 5,060 20-foot equivalents under an agreement...
UCLA-Ceridian Trucking Index Rises in June The Ceridian-UCLA Pulse of Commerce index pulled out of its two-month slide with a 1 percent increase in June, though...
KCS Gets $56 Million in Hurricane Claims Kansas City Southern is receiving a $56 million insurance payment for lost profits and property damage last year from Hurricane...
Safmarine, Maersk Adding India-Middle East-South America Loop Safmarine Container Lines and sister carrier Maersk Line will introduce a weekly loop this month, called the Rumba/Prime 4 service,...
Zim Postpones Asia-Europe Rate Hike Zim Integrated Shipping Services is postponing by a month the implementation of the general rate increase it planned to apply...
Trans-Pacific Rate Benchmark Falls 6.7 Percent Spot container freight rates from Asia to the United States plunged dropping 6.7 percent over the past week, a new...
Shipping Industry Carbon Plan Includes Penalties The World Shipping Council and regulators in Japan say their joint plan on vessel efficiency would set fees for operators...
Gulmar sips subsea soup Oaktree Capital-controlled offshore contractor sinks teeth into African subsea market with Gulmar Condor deal.
GMR on road to recovery? Equity analyst at US investment bank says $50m ATM offering is not the only tool in cash-strapped tanker owner's fiscal arsenal.
Inside Omega Shipmanager, lawyers, classification societies and IR firm land on list of bankrupt product tanker owner's top creditors.
Tough market for new liners Consultancy Alphaliner claims consolidation by bigger firms is crowding out market.
Stealthgas seals five Harry Vafias-led Greek owner fixes quintet of LPG carriers, while taking pay cut on tanker.
Wartsila buys Swedish firm Finnish engine supplier purchases shaft seal and bearing systems manufacturer.
STNG scoops product pair Emanuele Lauro bets on market rebound by penning charter pacts with Romanian owner while converting $137m credit facility.
Daring cruiseship rescue Six boaters scramble aboard Discovery Sun after blaze sinks their vessel.
Seanergy goes long Greek owner takes $14,500 per day for charter of supramax for up to 18 months.
Coastal secures vessel sales Malaysian shipbuilder ties up deal worth $32.4m for OSV and two units of barges.
Pentagon queries NOC bill Defense Contract Audit Authority says call for $310m to close Avondale is unsupported.
Iran foils bulker raid Navy warships rush to help Iranian cargoship under attack from Somali pirates in Indian Ocean.
Wartsila bags dredger deals Finnish engine builder awarded supply contracts in the Netherlands and China.
Yantar borrows billions Russian shipbuilder seals two big financing deals with domestic Sberbank to fund government work.
Southampton strike warning Ports operators told to be wary of ships having left South Coast without health certificate.
ComPair: 8% Q2 capacity growth on head-haul lanes Both head-haul lanes in the major east/west trades saw allocated ocean freight capacity grow 8 percent in the second quarter, according to the latest World Liner Supply report from American Shipper affiliate ComPair Data. Eastbound transpacific an...
Moody's concerned about shipping overcapacity Moody's concerned about shipping overcapacity Moody's concerned about shipping overcapacity Moody's Investors Service said Tuesday it has revised its outlook for the global shipping industry from neutral to negative, saying that while the dry bul...
U.S. recognizes Danish laws in TCC reconstruction bid A failed startup container line and the financial administrators appointed to rebuild the company have won a key decision in U.S. federal bankruptcy court, the line said Tuesday. The Containership Co., which filed for "reconstruction" in Denmark i...
Drewry: Containers to be tight in peak season A tight ratio of containers to vessel slots and increased production costs for new containers will continue to constrain the global box supply, according to a new report by Drewry Maritime Research. The report,Container Census -- Annual Survey and...
IMO considers mandatory ship efficiency index International Maritime Organization Marine Environment Protection Committee delegates meeting in London this week were urged "not to put political and other interests above those of the environment." IMO Secretary General Efthimios E. Mitropoulos ...
Graig orders up to 26 container feeders Graig Group, a ship owner based in Cardiff, Wales, said Tuesday it plans to order up to 26 container feeder ships. The "Marlin" ships are to be built at the Jin Hai shipyard complex near Shanghai China. The first two vessels are to be delivered in ...
Zim postpones Asia/Europe rate hike Container line Zim said Tuesday it has postponed a planned rate increase on the Asia/Europe trade from July 1 to Aug. 1. The proposed increase affects westbound cargo from Asia and the Indian Subcontinent to West Mediterranean, Adriatic and norther...
Maersk to link India/Mideast, South America Maersk Line said this week it will launch a service connecting India, the Middle East, Mediterranean and South America at the end of the month. The line's Rumba service will have a rotation of Nhava Sheva, Jeddah, Genoa, Barcelona, Algeciras, Tang...
Energy report shows large declines in crude inventory Crude climbed after largest than forecast decline in inventories.
O.W. Bunker relocates Dubai offices Company has moved to a larger office facility.
Middle East bunker prices rise Strike disrupts bunkering activities in Cape Town.
Strong gains in European bunker prices 'Crazy' market in Piraeus.
Need for bunker surveyors remains 'Too many questions' about finer points of flow meter technology.
MEPC welcomes Bahamas' CO2 emission reduction solution Submission based entirely on technical and operational measures is considered 'an additional flower in the bouquet.'
Mid week bunker prices up at major ports Supplies of bunkers at key Asian ports not an issue on Wednesday.
BIMCO poses questions on use of LNG as bunker fuel Environmentally friendly aspects of LNG 'may seem impressive but may not be the whole story', says report.
New generation LNG carrier cuts fuel consumption by 20% LNG carrier EXTREM is part of Mitsubishi Heavy Industries Sayaendo series of vessels.
ExxonMobil sells 700 cSt cargo at 'unexpectedly' strong prices Parcel sold at a discount of $20-$21 pmt against previous discount of $27-$28 pmt.
Competition to intensify in China's bunker market Five new bunker players expected to receive licenses this September.
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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