Chinese puzzle that's wrapped in an enigma In the months following a roaring year for Chinese ship financing as liquidity dried up in the West, tales of foreign firms being singed by the dragon have emerged.
Horn protest mooted to combat piracy The shipping industry's moves to jolt governments into action in the fight against Somalian piracy could soon take a new pitch - a loud 30-second blast at noon every day from ships in port.
Maersk second line to make low-sulphur fuel switch here Hot on the heels of Neptune Orient Lines' decision to switch to low-sulphur fuel for its ships calling at Singapore, Maersk Line announced yesterday that it will be doing the same thing.
Boeing delivers to Algerian carriers The US airframe producer Boeing recently reached a major milestone with long-time customer Air Algerie when it delivered the 50th Boeing jetliner ' a Next-Generation B737-800 ' to ...
DHL and Cathay Pacific Cargo to implement electronic security declaration DHL Global Forwarding, the air and sea freight specialist within the Deutsche Post DHL Group, and Cathay Pacific Cargo, are teaming up to drive the implementation and adoption...
Vossloh posts record result in financial 2010 The Vossloh Group reported record revenues and earnings before interest and taxes (ebit) in financial year 2010. They were primarily due to more sales of rail ties. The group's 201...
Union Pacific to invest USD 400 million in New Mexico rail facility The US-based rail service provider Union Pacific Railroad announced that the state of New Mexico's governor, Susana Martinez, signed into law a bill passed by the state's legislatu...
Knorr-Bremse stays on growth track The Knorr-Bremse Group, the world's leading manufacturer of braking systems for rail and commercial vehicles, increased its sales by just under EUR 1 billion, or 34.5%, to EUR 3.71...
Austria: Hödlmayr takes over Tatschl's car transport business Tatschl & Sons Haulage and Transport GmbH, a family-owned company that was founded in 1956, is selling its vehicle transport business to Hödlmayr Logistics Austria. The sale gi...
Toronto investing millions of US dollars in road projects In an effort to improve road and safety conditions, the city of Toronto (Canada) plans to spend USD 210 million this year on refurbishing aging roads, highways, bridges and si...
EU Parliament calls for end to ban on lorry pollution charges The European Parliament's transport committee has reached an agreement on revised road charging rules for lorries (the Eurovignette directive) that will open the door for member st...
Volcanic ash crisis exercise to test new procedures One year on from the eruption of the Eyjafjallajokull volcano in Iceland, a major ICAO crisis exercise is taking place to validate changes and improvements to the volcanic ash cont...
Arvato expanding business with Sanofi-Aventis Arvato AG, a subsidiary of the Bertelsmann Group, is handling all procurement and logistics activities for Sanofi-Aventis Germany's marketing materials with immediate effect, there...
Logwin operates new distribution centres in Croatia for Spar The global logistics service provider Logwin has been managing the retail group Spar Croatia's new distribution centre for dry goods since November 2010. In addition, Logwin should...
Itella to build new logistics centre in Finland The Finnish postal and logistics operator Itella Logistics has confirmed it is to build a new logistics centre in partnership with retailer Rautakesko. The logistics centre will co...
Drewry: does the container sector need to go back to school? The basic education of school-children used to revolve around the Three R's of reading, writing and arithmetic. It seems that the container syllabus is currently following a simila...
UASC takes delivery of first A13 class containership United Arab Shipping Company (UASC) has taken delivery of its first 13,500 teu capacity container vessel. The "Umm Salal" is the first in a series of nine A13 class conta...
New commercial manager at CMP Copenhagen Malm' Port has recruited Claus Ellemann-Jensen as its new commercial manager with effect from 1 May. In the past four years Ellemann-Jensen has worked for CMA CGM, ...
ACI Asia-Pacific announces regional board election results James Bennett, CEO of Abu Dhabi Airports Company (UAE) and Rodolfo Echeverria, CFO of Airport International Group (Jordan) have been unanimously elected by the members at the Regio...
Duisport Group builds on successful business model The German inland port operator duisport Group reported that its total sales (plus sales from strategic holdings) in 2010 reached EUR 148 million. The group was...
Japanese naphtha restart lifts LR2 earnings Middle East to Japan rates leap 38% in a week as some cracker plants come back online
Containership orderbook rises again on new contracts Recent deals with Asian shipyards threaten to reverse progress of market fundamentals
US gasoline demand rises by 90,000 bpd despite price hikes US gasoline demand rose in March despite price rises at the pumps
Room for recovery after March collapse Asia's naphtha market took a heavy hit in March due to the catastrophic events in Japan causing several naphtha crackers to shutdown
Shipping Corp of India charters VLCC for $27,750 per day Shipping Corp of India has chartered out a very large crude carrier for a year at $27,750 per day, representing an increase on last-done levels for deals of this length
BW Offshore predicts upturn in FPSO activity Norway's BW Offshore said yesterday it expects the level of activity in the offshore sector to increase this year in line with high oil prices
CMA CGM and Offen agree on larger boxship sizes Shipowner and carrier seem to have resolved a dispute over newbuilding order
Escalating violence For seafarers at risk from pirates or friendly fire from navies, the only solution is to address the problem at its root cause
Irish nightmare The Celtic Tiger appears to have become extinct, and ports and shipowners engaged in Irish business will have to readjust their expectations accordingly
Torm to raise $100m via rights issue Proceeds will help shipowner avert breaching its loan covenants
Long Beach box volumes slip Dip of 2.5% in March ends 15-month run of consecutive growth
Poor response to anti-piracy ship reporting High numbers of Hong Kong and Singapore vessels not registering with EU Navfor
Hutchison drops Galveston lease bid Pulls out of joint preferred bid with The Carlyle Group to operate master lease
Box Ships nets $122m from New York IPO Prices at $4 below target but company increases offering size and will source loan to complete funding of initial fleet
Investors keen on CMA CGM bond sale Sources say liner giant may sell about $434m of bonds priced to yield about 9%
Hanjin acts to stop freight rates slide To introduce rates hike on its Asia-Europe trades in May
First boxship clears Rotterdam radiation checks Carsten Maersk allowed in to box hub after radiation levels are normal
Irish Ports see dry bulk and ro-ro boom Full-year increase in dry bulk and ro-ro sectors seen while steep decline in lo-lo levels off
Lloyd Fonds downbeat on KG funds Plans to launch private placements to small numbers of investors in 2011
Crew killed in Kiel Canal collision Boxship OOCL Finland and general cargoship Tyumen-2 collide in heavy fog
Diana splashes $70m on Maersk trio Panamax vessels chartered back to Maersk for two years
Hong Kong plans shipping trust rival to Singapore Hutchison Whampoa Singapore listing move sparks Hong Kong scramble
Hamworthy bullish on profit forecasts Improved order intake lifts value of its orderbook to some '258m at the end of March
Shipowners clash over piracy risks Debate heats up over risks to crew as calls mount for use of stronger force against pirates
DryShips set to activate drillship options Close to exercising two of four additional options after $500m bond boost
Global pirate attacks soar to record high First quarter attacks reach 142 with 344 seafarers taken hostage and 7 killed
Fatigue main cause of Shen Neng 1 grounding Report findings set to reignite fatigue debate in casualty cases
Frangou loses FFA fight A UK JUDGE has ruled in favour of bankrupt Atlas Bulk in its dispute with Angeliki Frangou-led Navios over FFA set-offs
Box forecasting boon seen RICHARD Lidinsky, Federal Maritime Commission chairman, has said that major US box shippers are working more closely with liner operators to improve sector forecasting
Box Ships limps onto NYSE PARAGON-sponsored Box Ships priced its IPO today at a huge discount, slashing proceeds and pushing up debt
Third KLS foreclosure allowed BNP PARIBAS has been given the green light to foreclose on the Korea Line Singapore-owned tanker Blue Jasper, new US court documents reveal
Ivory Coast to resume cocoa shipments SHIPS are reportedly preparing to return next week to Ivory Coast's major ports
IMB: 'sophisticated' pirates set record THE IMB today told Fairplay a rise in piracy attacks to an "all-time high" is largely the result of more sophisticated methods of attack
ATSB warns on fatigue AUSTRALIAN authorities today warned ship operators that they must properly manage crew fatigue after finding that it was largely to blame for a serious grounding off Queensland
Whopper ransom paid PIRATES have been paid their first ransom exceeding $10M, BIMCO's Thomas Timlen today told the Piracy & Sea Robbery conference in Singapore
Shipping confidence slides further CONFIDENCE levels in the shipping industry have barely recovered from those seen during depths of the recession and are falling again, according to Moore Stephens
VLCCs pose rate dilemma VLCC SPOT fixtures rocketed in March, but excess tonnage kept freight rates low despite owners' efforts to pump them up, brokers said today
Stable box rates ahead? FREIGHT rates in box shipping are starting to show signs that they will stabilise during the next quarter, container sector analysts said today
Two killed in Kiel collision TWO CREW members were killed today in a collision between a box ship and general cargo ship on Germany's Kiel Canal, Fairplay has been told
Drybulkers snarled A SNARL of drybulk tonnage has developed at ports worldwide, but sector analysts said high bunker costs and the tonnage glut is keeping sentiment bearish
Singapore sees bourse edge SINGAPORE'S Maritime & Port Authority said today it hopes to persuade more maritime companies to list on its bourse, given the industry's growing need for alternative ship financing
U.S. Exports, Imports Fall in February The U.S. trade deficit narrowed 2.6 percent in February, the first decline in four months, but both imports and exports...
Foreign Freight Forwarders Criticize Tariff Rule Freight forwarders outside the U.S. this week expressed "deep disappointment" over the recent easing of Federal Maritime Commission rules. ...
Bersin Promises Faster Clearance for More Information Commissioner of U.S. Customs and Border Protection Alan Bersin for the past year has touted a "grand bargain" with the...
Truckload Capacity Index Drops 1.4 Percent Truckload capacity slackened slightly in the week ending April 11 but is still much tighter than it was a year...
DOT Sends $320 Million to States for Storm Repairs The Department of Transportation is sending nearly $320 million out to states and territories, to reimburse them for repairing roads...
S.C. Senator Vows to Block Nominees Over Dredging Sen. Lindsey Graham, R-S.C., said this week he will block consideration of all new administration officials President Obama wants confirmed...
DOT Grant Helps Vancouver, Wash., Freight Rail Plan A newly finalized $10 million federal grant should help the Port of Vancouver, Wash., get its long-planned West Vancouver Freight...
Box Ships IPO Raises $132 Million Box Ships, an Athens-based container ship charter owner, raised $132 million from an initial public offering but its shares slipped...
Spot Market Truck Rates Jump 4 Percent Spot market truckload rates rose 4 percent in March from February and were up 15 percent year-over-year, according to TransCore...
Sony to Close Facilities in Japan Temporarily Sony is considering temporarily closing some of its facilities in Japan because of the continuing power shortages resulting from the...
Controversial PierPass Study Measures Truck Turn Times A study by PierPass and Ability/Tri-Modal of gate turn times in Los Angeles-Long Beach indicates the median visit time of...
USTR Says Agreements Will Advance Export Goals The U.S. free trade agreement with South Korea will open a "spectacular" market that could boost U.S. exports by more...
Long Beach Imports Fall 7.5 Percent Combined imports at the ports of Long Beach and Los Angeles grew 2.5 percent in March compared to the same...
J.B. Hunt Revenue Rises 18 Percent to $1 Billion Strong intermodal and trucking demand in the first quarter pushed revenue up 18 percent to $1 billion at J.B. Hunt...
Truck Broker Loads Rose 10 Percent in 2010 Truck freight brokers moved 10 percent more loads per month in 2010 than in 2009, underscoring growing use of brokers...
Japanese Ship Orders Doubled in FY2010 Japanese export ship orders made a strong recovery in fiscal 2010, which ended on March 31, after sinking at their...
Maersk Sells Three Ships to Diana for Leaseback Diana Containerships, a NASDAQ-listed owner of container ships for charter, said Thursday it agreed to buy three Maersk Line Panamax...
Shipping Group Sees Overcapacity Poisoning Market Spot freight rates on the trans-Pacific and Asia-Europe trade lanes may not recover from their three-month slide until the...
Hanjin Boosts Asia-Europe Rates Hanjin Shipping plans to increase freight rates as of May 15 on the Asia-Europe trade lanes. Those trade...
First-Quarter Piracy Attacks Hit Record Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, according to...
Galveston Port Privatization Falls Through A proposed deal to privatize the Port of Galveston fell through. Hutchison Port Holdings and the Carlyle Group formally...
U.S., Chile agencies help Latin American countries The U.S. Agency for International Development and Chilean International Development Agency (AgCI) continued talks this week to implement the recently signed memorandum of understanding to advance trilateral cooperation in Latin America and the Cari...
Sales, reduced employment buoy retailers Monthly retail sales figures for March were up 0.4 percent over February and 7.1 percent over March 2010, according to U.S. Commerce Department figures released Wednesday. Retail sales excluding auto sales rose 0.8 percent over the previous month a...
ICF railcars up for auction The liquidator responsible for Intercontainer-Interfrigo SA has released 173 of the container railcars in the ICF wagon fleet for online auction. Bids for this equipment must be submitted by 2 p.m. on April 28. Antwerp, Belgium-basedonline auctione...
Asia/Europe rail link tests resume DB Schenker earlier this month resurrected its trans-Asia freight rail project linking China to Germany with a test run of a train from Chongqinq to Duisburg, according to a note from the consultant Transport Intelligence. The German rail and logis...
Cathay air freight grows marginally in March Cathay Pacific and sister airline Dragonair saw air freight volume rise 1.4 percent to 161,461 tons in March, compared to the same month in 2010. Capacity increased 21.1 percent during the month. "While demand back into Asia remained robust during ...
Hanjin to raise Asia/Europe rates Hanjin Shipping said Thursday it is raising rates on trade from Asia to Europe, effective May 15. The increases are $200 per TEU from the Far East (excluding Japan) to all parts of Europe and $150 per TEU from Southeast Asia, the Indian Subcontinen...
FMC urges continued improvement of contracts Federal Maritime Commission Chairman Richard A. Lidinsky Jr. urged shippers and carriers to continue efforts to improve service contracts, saying there is "remarkable consistency" in the advice being given by the FMC, and shipper and carrier groups...
FMC urges continued improvement of contracts Federal Maritime Commission Chairman Richard A. Lidinsky Jr. urged shippers and carriers to continue efforts to improve service contracts, saying there is "remarkable consistency" in the advice being given by the FMC, and shipper and carrier groups...
Piracy at record high Piracy at sea hit an all-time high in the first three months of 2011, with 142 attacks worldwide, said the International Maritime Bureau Thursday. The sharp rise was driven by a surge in piracy off the coast of Somalia, where 97 attacks were recor...
Shipowners ready to drop opposition to scrubbers 'Attitudes have changed,' said MD of Marine and Energy Consulting.
Fujairah bunker prices rise Durban deliveries available up to and including April 28.
Rotterdam market firms Congestion in Piraeus following refinery strike causing supply disruption.
Shore power deal for Brooklyn cruise terminal Partnership to introduce first operational shore power-capable cruise terminal on the US East Coast following two years of negotiations, improving local air quality.
Fujairah refinery project finally approved Size scaled down from original plans, could provide fuel for ships from 2016.
Gibraltar bunker spill cleanup completed 'The spill was a minor one' says port official.
IFO prices mainly up at key ports Bunker supplies sufficient at key Asian ports, traders say.
Glencore eyes up to $11 billion from proposed IPO Chemoil's majority shareholder plans to use proceeds from the offering to fund capital expenditure including expansion for the next three years.
Singapore bunker sales rebound in March Bunker fuel sales up 8% in March due to 'more days in the month' compared to February, says traders.
DNV introduces new guideline, calculator for fuel savings 'To help shipowners navigate the jungle of different devices and help them select the measures which give the most benefit,' says DNV director for bulk carriers.
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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