World Fuel Services headed for record year At a time when the biggest-ever fleet of merchant vessels means losses and bankruptcy for ship owners, the company providing about 12 per cent of their fuel is poised to make record profit.
Korean shipbuilding stocks extend losses Shares in South Korean shipbuilders extended their losses yesterday after the cancellation of a ship order this year prompted concerns among investors that Europe's debt crisis could see more orders being deferred and stopped.
Strait Talk
A new era in Gibraltar THOSE who have been following The Business Times shipping pages for a while may have noticed that it has been a long time since we have carried anything about Gibraltar, once a regular annual feature. The self governing British territory perched at the tip of Spain has maritime economy with many similarities, though on a much smaller scale, to Singapore. It is a major bunkering hub and has a significant national flag fleet and a ship repair industry. Potentially, at least, it is' somewhere for Singapore companies to bear in mind when it comes to investing overseas.
World Fuel Services headed for record year At a time when the biggest-ever fleet of merchant vessels means losses and bankruptcy for ship owners, the company providing about 12 per cent of their fuel is poised to make record profit.
Korean shipbuilding stocks extend losses Shares in South Korean shipbuilders extended their losses yesterday after the cancellation of a ship order this year prompted concerns among investors that Europe's debt crisis could see more orders being deferred and stopped.
Strait Talk
A new era in Gibraltar THOSE who have been following The Business Times shipping pages for a while may have noticed that it has been a long time since we have carried anything about Gibraltar, once a regular annual feature. The self governing British territory perched at the tip of Spain has maritime economy with many similarities, though on a much smaller scale, to Singapore. It is a major bunkering hub and has a significant national flag fleet and a ship repair industry. Potentially, at least, it is' somewhere for Singapore companies to bear in mind when it comes to investing overseas.
Vanguard Logistics Services appoints sales manager Christopher Glenn has been promoted to the position of vice-president of global technology sales at Vanguard Logistics Systems, a Californian provider of NVOCC services. Glenn was...
Antwerp to help develop port of San Pedro The port of Antwerp is to collaborate in the further development of the port of San Pedro (Côte d'Ivoire), the largest cocoa port in the world. It has 2,000 hectares of vacant lan...
Arik Air finally starts Angola service Nigeria's Arik Air is set to begin a twice-weekly Lagos-Luanda service today. The carrier originally planned to launch a link to the Angolan capital in autumn (see ITJ Daily of 4 ...
Aramex acquires South African logistician Berco Express Aramex, a Middle Eastern logistics and transport solutions provider, has acquired Berco Express (Pty), one of South Africa's leading logistics and transport firms. Berco Express w...
Adria Airways and Fraport extend cooperation Adria Airways, the national carrier of Slovenia based in the capital Ljubljana, has renewed a long-term freight handling contract with Fraport Cargo Services. The airline celebrat...
Howe Robinson Container Index falls The Howe Robinson Container Index (HRCI) decreased from 540.5 points for the week ending on 18 November to 514 points in the week terminating on 7 December. The 26.5 point fall in...
Freightliner launches new improved biomass wagon Freightliner Heavy Haul has unveiled a new prototype covered hopper wagon that has been developed for the biomass market. The wagon is a modified HHA coal hopper wagon, which has ...
PCC Intermodal links Moscow with European ports PCC Intermodal is launching its first regular train to Russia. The connection from Kutno to Moscow is scheduled to begin soon. It will ensure smooth handling of containers for the...
Kögel supplies the most popular trailer in Russia Russia's best trailer of 2011 comes from Burtenbach in Bavaria (Germany). Kögel was awarded first place in a movement competition in the trailer category with its cargo product. T...
U-Freight drinks to growth of wine logistics in China The U-Freight Group, the Hong Kong-based international freight services and logistics enterprise, believes that China's growing thirst for French wine will be a major boost for th...
Butler to sell Sernam to industrial partner The general cargo group Sernam, a former subsidiary of the French national rail operator SNCF, is going to be sold again. The investment group Butler Partners, which holds 51.8% o...
Etihad orders B777Fs and Dreamliners Boeing and Etihad Airways, the national airline of the United Arab Emirates, have announced an order for ten B787-9 Dreamliners and two B777 freighters. Valued at a combined USD 2...
Q&A: Norwegian Hull Club's John Wiik Chief executive shares his pearls of wisdom after faring rather well in a stormy sea
Increase in private security companies causes diversification in K&R market It can now cost less to take out a kidnap and ransom policy than not having one
APMT's bid for Gothenburg terminal approved Green light by competition authority is good news for customers and 450 employees
Telling it like it is Shipowners must improve their disclosure to stakeholders
Securing the oil supply Middle East crude oil volume growth belies a subtle shift in production
Intelligence-led pirate attacks are set to increase Recent hijacks are evidence of a change in tack towards more selective targets
Open response to threat of piracy Debates on flag will not help prevent pirate attacks, or piracy in general
Not all armed escorts are equal Cut-price security will cost lives
Hedging against uncertainty Derivatives offer protection, say brokers
2012: the year of the derivatives Olympics? Champions of hedging tools for the container world expect demand to take off next year
Liquidity is the key to growth Start small, grow slowly says broker
European aframax market 'teetering' after rates spike Brokers say Mediterranean market earnings could fall as fast as they rose
Rickmers in talks to merge with Komrowski German tramp consolidation takes off
China looks to next decade in WTO Nation's remarkable rise during its 10-year membership of the trade group is just the opening act
Financial disclosure would make loans easier, says KPMG Shipowners have enlightened self-interest in producing proper accounts, firm argues
Skuld shakes up management to secure growth Director poached from rival Gard
When is the risk of piracy serious enough for the law? Recent decision highlights the need for a proper legal test for piracy risk to be applied by courts and maritime arbitrators
Capesize rates slide despite high congestion levels in China Panamax bulkers buck the trend, with prices continuing to rise
Spot tanker fixtures from Opec countries up 9% in November Volumes rise by almost 1m barrels per day, with Middle East-Asia trade leading boost
Underwriters raise liability concerns Disagreements over criminalisation of salvors and ship crews
Opec highlights rise of gasoil trade versus decline of gasoline Report cites 'healthy' exports to Latin America and arbitrage 'fuelling bullish sentiment'
CSAV to halve container capacity as it searches for partner Box interests to be separated from ports and logistics division, Hasb'n confirms
Index-linked contracts gain popularity in US box trades FMC calls for greater transparency of methodology
Seaspan to buy back shares and acquire management company Fleet-management deal widely anticipated
Ireland's exports rebound while imports struggle Luxury goods hardest hit
Decks cleared for Omega Navigation Chapter 11 denouement Closing arguments filed after two-week trial, with judge expected to rule by the weekend
IEA warns on Europe, cuts oil predictions THE IEA today cut its oil demand outlook for both the short and medium term - and warned that the eurozone crisis could drag the numbers substantially lower
EC surveillance net would target smugglers THE EC has proposed a European Border Surveillance System to choke off the smuggling of drugs and people into ports, IHS Global Insight reported today
Box sector gets shorty BOX SHIP operators are increasingly choosing shorter charter periods as the economic climate gets colder
Arpeni files Chapter 15 INDONESIAN shipping group PT Arpeni Pratama Ocean Line has filed for Chapter 15 bankruptcy relief in New York City
India seizes Maersk ship AN INDIAN court has called closing time on a Maersk box ship because of failure to serve up the booze
Spain to widen inquiry MADRID plans to expand its ferry price fixing and market sharing inquiry into the wider Spanish-Moroccan shipping sector
LNG rates set record LNG RATES for charters of at least 12 months have reportedly risen to a record high
A ship is not a cow THE ICS has warned governments internationally to not to treat shipping as a "cash cow" to be milked for green causes
Scilly weather stymies UK supply ship A PALLET ship was reportedly stuck in enzance today after gales prevented it delivering cargo to the UK's Isles of Scilly
Rupee rocks shipping shares SHIPPING shares in India fell hard today in reaction to drastic falls in exports and the rupee's continuing decline in value
NOL revenues/feu drop 14% NOL SAID today its average revenues per feu from 22 October to 18 November were 14% lower than during the year-earlier period
Wealth-gap protests cause minor port delays POLICE have arrested two demonstrators at a Long Beach wealth-gap protest, but officials there reported no major port disruptions
Saudi/Asia flow rises SAUDI Arabia's higher crude output in November was mostly transported to Asia, causing spot fixtures to rise, the IEA said today
Uplift seen for Panamaxes AFTER struggling with a tonnage overhang for the past few months, Panamax bulker rates in the Far East are finally rising
KG bulker in receivership A GERMAN KG Handysize bulker, moored at Bilbao in Spain, has run out of liquidity
Port Tracker Forecasts 0.3 Percent Increase in Imports The Global Port Tracker retail shipping industry report forecast a 0.3 percent increase in December container imports through major U.S....
US Xpress Co-Founder Pat Quinn Dies Patrick E. Quinn, co-founder of one of the largest trucking companies in the U.S. and an advocate not just for...
Port of Houston CEO Cleared of Allegations Port of Houston Authority CEO Alec Dreyer has been cleared of all criminal allegations regarding vessel misuse and tampering with...
Air Freight Price Index Jumps 14.7 Percent in October The Drewry Air Freight Price Index took a sharp turn upward in October, increasing 14.7 percent from the previous month...
Seaspan Announces Plans to Buy Back Stock Seaspan announced this week a stock buyback offer in conjunction with the launch of a tender offer to purchase up...
DFDS, Louis Dreyfus Drop Bid for Ailing Sea France DFDS and Louis Dreyfus said they are not making a revised joint bid for assets of Sea France because of...
US Retail Sales Grew 0.2 Percent in November U.S. retail sales rose 0.2 percent in November, driven by Black Friday bargain-hunting, but the month-to-month increase was the slowest...
Swedish Regulators Approve APM-Gothenburg Port Deal Sweden's competition regulators cleared APM Terminals' 25-year concession to operate the port of Gothenburg's Skandia container terminal, the country's biggest...
Oakland, Portland Work on Occupy Backlogs Cargo operations at West Coast ports returned to normal Tuesday after Occupy movement protests shut down operations at some terminals...
Ceridian-UCLA Trucking Index Rises 0.1 Percent The Ceridian-UCLA Pulse of Commerce Index was essentially flat in November, despite stronger economic activity and higher retail sales. The...
TUI Exercises Tender Offer on Hapag-Lloyd Stake TUI is exercising its right to tender a further 33.3 percent stake in Hapag-Lloyd to the Albert Ballin consortium, which...
Maersk Revives CRX Europe-Central America Service Maersk Line will reintroduce its CRX service in January connecting Mexico and Costa Rica directly with the U.K., the Netherlands...
Hyundai Secures $500 Million Loan For Ships Hyundai Merchant Marine closed on a $500 million debt facility on Tuesday from a syndicate of financial institutions led by...
JOC, PIERS Sign Pact With Shanghai Shipping Exchange The Journal of Commerce and sister company PIERS signed a strategic agreement with the Shanghai Shipping Exchange to share more...
Frankfurt Cargo Plunges On Night Flight Ban Frankfurt airport handled 10.8 percent less freight in November than a year ago as Europe's second largest cargo hub took...
Diesel Prices Fall 3.7 Cents to Six-Week Low Diesel prices across the United States dropped 3.7 cents in the week ending Dec. 12, falling for the third week...
Venezuela concludes deals with Latin partners The Venezuelan Government used the recent 'Summit of the Community of Latin American and Caribbean States (Clacs)', which convened earlier this month in Caracas, ...
Surge in mothballed boxship fleet Unsurprisingly given the flurry of services that have been withdrawn in recent weeks, the number of idled containerships is at last beginning to reflect the depressed ...
Oakland bears the brunt of Occupy protests Anti-Wall Street activists' attempts to shut down US west coast ports yesterday met with only limited success with just the Port of Portland and the early November ...
InterBulk Group eases ahead UK-based InterBulk Group, which is a leading provider of logistics services for the chemical, polymer and food mineral industries, has announced improved financial ...
Drewry benchmarks gain momentum with US contracts on eve of new FMC index rule The popularity of Drewry Maritime Research's container freight rate benchmarks within those involved in US trades is gaining momentum - of 50 service contracts ...
2012: shippers could be in for a scary ride Reflecting back on the happenings of 2011 provides further evidence if needed that a year is a very long time in global events: the Arab Spring uprising; the Japanese ...
Noatum appoints Gadegaard as commercial director Noatum Ports, Spain's largest operator of marine terminals has nominated, Kim Gadegaard as its new commercial director. The ex Maersk Line executive who for the ...
Rot stops for APL's average rate Neptune Orient Line's container arm APL, saw its average rate per FEU decline by 14% in its period 11 [P11] October 22 to November 18, 2011, versus the same interval ...
Polluter strikes plea deal US Department of Justice convicts Ilios Shipping for covering up oily infraction and obstruction of justice.
CMA CGM teams with OOCL French operator commits five containerships to New Zealand service in a freshly minted pact with Orient Overseas.
German managers to merge Erck Rickmers and Komrowski in talks to create holding company for management of liner and bulker fleets as German fleet consolidation kicks off.
Smash shuts Houston Channel US petrochemical artery clogged as ADM bulker and US Shipping Corp chemical carrier collide in Texas.
Fitch downs BLT Diversified Indonesian owner needs to come up with some cash quick if it is to avoid further downgrades, Fitch says.
Danish Shipowners' Association disappointed with COP17 Wants clear CO2 reduction targets, but against shipping being used as a 'cash cow' for Green Climate Fund.
Feasibility of LNG for large container ships GL to work on concept study for a 13,000 TEU container vessel fuelled by gas.
Fujairah market lacking direction Prices down in South African ports on Tuesday.
Rotterdam bunker market firm Oil price rally causing busy day in Piraeus.
Emulsion fuel loaded and ready for sea trials Specialists from Maersk, Quadrise and the engine manufacturer to join the vessel and monitor initial operations.
More bunker tankers join oil spill response network EMSA has contracted three new bunker tankers plus one offshore supply vessel to its network.
Torm gains temporary reprieve from lenders Agreement 'provides the short-term flexibility that will enable a long-term sustainable solution,' company says.
IFO prices firming across Asian hubs Demand mixed at key Asian bunkering ports on Tuesday.
Singapore to set new bunker sales record in 2011 Record high bunker sales seen amid strong growth in annual vessel arrival tonnage at the port, says local transport minister.
Singapore 500 cSt sales at 11-month high Sales of other bunker grades generally lower month-on-month, according to MPA data.
Significant fuel saving from 'simple change' in ship design Economic and environmental considerations are 'two sides of the same coin', says Norden executive.
Removal of taxes to boost India's bunkering prospects Singapore sourcing bunkers from India but is able to sell the products 'cheaper' due to absence of taxes, players note.
Cargo delays squeeze 380 cSt supplies in Hong Kong Avails expected to ease next week upon the arrival of replenishment cargoes.
Tanker owners find 'strength in numbers' Pooling help companies benefit from 'certain economies of scale' including cheaper bunkers.
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