Rickmers in the black in Q3, raises payout Rickmers Maritime declared distribution per unit for the third quarter that was 5 per cent up y-o-y to 0.60 US cents from 0.57 US cents previously.
Educating travellers on Coral Triangle As the Singapore Cruise Center (SCC) turned 20 yesterday, it gave itself the best present it could give: a good cause.
Navios CEO predicts shipping bankruptcies Angeliki Frangou, who heads three shipping companies controlling more than 100 vessels, said bankruptcies within the industry will accelerate as lending dwindles, allowing her to purchase assets that plunged in value.
TransContainer earnings grow in first nine months TransContainer's earnings increased by 28% in the first nine months of 2011, in comparison with the like-for-like period last year, reaching approximately RUB 20.9 billion. Revenue...
Maersk Line posts loss in Q3 A.P. Moeller-Maersk said that its subsidiary Maersk Line, the world's biggest container line, will lose money this year, revising a previous forecast which spoke of a modest profit...
IRU publishes new general conditions for the carriage of goods The Goods Transport Council of the International Road Transport Union (IRU) has adopted revised IRU general conditions for the international carriage of goods and related outline a...
Rutges Cargo participating in Dutch fuel savings programme Rutges Cargo, a European truck operator and part of the Wallenborn Group, is to participate in the Truck of the Future demonstration programme, organised by the independent researc...
Boeing begins work on 1,000th B777 Boeing workers last week began assembling the 1,000th B777, a 300ER that will be delivered to Dubai-based Emirates Airline in 2012. The US aircraft manufacturer reached the milesto...
Asda rolling back road miles with CMA CGM and Freightliner Freightliner Limited, the UK's leading intermodal railfreight provider, has signed a new contract with CMA CGM to transport containers for Asda to and from Northeast England. Freig...
Froschmeier takes over Kukla's Eastern Europe division Stephan Froschmeier has headed the Eastern Europe transport unit of the Munich-based freight forwarder Kukla since October. The forwarder and transport specialist is boosting the e...
Volga-Dnepr delivers relief cargo to earthquake victims in Turkey Volga-Dnepr Airlines joined the relief operation to help earthquake victims in Turkey with two flights from Sharjah (UAE) to Erzurum, delivering urgently-needed equipment on behalf...
Swissport wins contract at Narita airport Swissport International has begun offering cargo handling services at Tokyo Narita, Japan's most important international air hub, by securing its first cargo contract there with Vi...
Deutsche Post DHL posts strong results in Q3 Deutsche Post DHL again increased its sales in Q3 and boosted profitability significantly. Group sales increased to EUR 13.12 billion. Adjusted for currency effects and consolidati...
Gulf Warehousing Company wins new contract The Gulf Warehousing Company has agreed to store chemicals used in the Pearl gas-to-liquids project (GTL) at its 16,000 sqm Ras Laffan warehouse in Qatar, according to a report in ...
FedEx Express expanding in Northern Ireland FedEx Express has officially opened a new operating base in and launched direct services to and from Northern Ireland. The new 20,000 sqft facility at the Kilroot business park in ...
PSA cars made in Spain now to be shipped to Livorno The Mercurio group has decided that all Citroen and Peugeot cars produced in Spain by the PSA Group and bound for Italy (50,000 units a year) will be shipped from Vigo to Livorno, ...
Lloyd's talks tough on e-endorsements Richard Ward raises threat of mandating use if take-up is slow
Skuld provides a model for would-be Lloyd's entrants Companies stand a better chance with an existing book of business that they can transfer in
Lloyd's chief wants Solvency II a year ahead of delayed start date Richard Ward says insurance market must 'not take foot off the gas'
Flurry of dry bulk orders as newbuilding prices continue falling Chinese yards win 2013 and 2014 contracts, including a newcastlemax order
Marfin Investment links with Abu Dhabi Mar for acquisitions Deal brings together pair with strong interest in maritime investments
Somalia: we're winning the battles but losing the war More must be made of EU Navfor
Shipping's Great Leap Forward China's talk of 'actively guiding' tonnage reduction is reminder of its market power
Price drop in smaller dry bulk classes slows After capesize values level off, panamaxes are also seen selling at stabilising values
Rush is on for ballast water compliance technology Tools sought to help port state control check vessels are adhering to the letter of the ballast water convention
Environmental rules poised to force early scrapping of tonnage Additional expense of green upgrades means owners of certain tonnage could well retire ships needing such costly work
Iridium hits record revenue as it gears up for launch of new service Satellite communications business raises its expectations for subscribers and operational earnings
Rotterdam commissions study on eurozone crisis threat to containers McKinsey analysing how economic uncertainty could hit the Le Havre to Hamburg range of northwestern European ports
China could help VLCC overcapacity by purchasing all 15-year-old vessels Poten & Partners suggests Asian country buys ageing tankers rather than ordering newbuilds
Tanker asset values continue tumble Two-year-old suezmax and one aframax reported sold in quiet secondhand market
P&O Ferries threatens to fight any SeaFrance rescue bid with state aid French Dover-Calais ferry operator awaits Wednesday court decision on sale or liquidation
Newlead locks in new kamsarmax for 16 years Renegotiation with charterer is being described as consensual
Falling containership values place Global Ship Lease in danger of loan default Company confident of thrashing out a pact with lenders by November 30
ICS to brief UN climate change conference Will stress that shipping is committed to reducing emissions
HCI Capital reports $11m loss in first nine months Fresh cost-cutting programme launched
LRIT data exchange up and running at European safety agency Emsa takes control of ship position information at Portugal base
Reduced fuel consumption could save $50bn by 2020 Study finds benefits to owners of implementation of IMO plans
US crew using system to extend claims Shipowners need to protect themselves from never-ending claims
Farstad posts $62.7m third-quarter profit Improvement over same period last year comes despite low rates and poor fleet utilisation
Egyptian port closed by protests Congestion impacts on over 40 vessels
Gulf ports urged to boost capacity Governments also need to cut red tape, says Kuwait Financial Centre study
Armed and necessary All signs are that the slow start of post-monsoon pirate attacks is due to onboard armed guards
Hamburg reports strong growth Box volumes up 15% year on year in third quarter
Courage snatches up supramax for $26.6m Hong Kong and Singapore-listed carrier buys from new Chinese yard for early 2012 delivery
IMO: new CO2 regs will deliver An IMO study released today predicted "significant" savings from incoming mandatory design and operation regulations, assuming ship operators can overcome the inherent challenges
STX OSV profits rocket OFFSHORE shipbuilding specialist STX OSV of Norway said today it has raised net profits for 3Q11 by 144% year on year
Scorpio hopeful on winter NYSE-listed Scorpio Tankers reported larger losses than expected today but voiced optimism that market conditions are improving for its next three months
France to appeal EC's ruling on SeaFrance PARIS said today France plans to appeal the EC's rejection last month of a €259.5M ($353.3M) restructuring proposal for SeaFrance
CMA CGM deal with HCI rumoured RUMOURS abound that listed German shipping trust HCI Hammonia is about to acquire two 5,500teu box ships from CMA CGM
RMT posts $11M profits 3Q2011 SINGAPORE'S Rickmers Maritime Trust today returned to profitability with net earnings of $11M in 3Q2011, reversing a $54.6M loss in 3Q2010. RMT posts $11M in 3Q2011 profits
STX Pan Ocean reveals losses of $35M SOUTH Korea's top drybulk carrier STX Pan Ocean plunged today into the red, reporting $35M in net losses for 3Q2011
Oltmann acquires 'bargain' ships GERMAN KG house Oltmann said today it has secured bargain buys of three multipurpose and container newbuildings for its private investors
Losses force HCI slashes GERMAN KG house HCI Capital said today it will cut one-fifth of its workforce and slash costs by $13M per year, after posting heavy losses
GSL concedes covenant risk GLOBAL Ship Lease, which charters box ships to CMA CGM, disclosed today that it will soon require a covenant waiver because of slumping asset values
Libya reported nearing 800,000b/d LIBYA's oil production is expected to increase to 800,000 barrels per day within the next few weeks, a London conference heard today
Ferry passengers freed TURKEY said commando teams have stormed a hijacked ferry near Istanbul, freeing all 24 passengers and crew, who had been held hostage for 12 hours
Bunker costs threaten VLCC revival VLCC SPOT rates are continuing this week to rise, but analysts are warning that growing bunker costs could smother the trend
Berlin reverses shipping cuts GERMAN parliamentarians have voted to repeal much-criticised spending cuts on labour cost subsidies for German-flag ships
TSA plans box rate boost TSA TODAY announced plans to set higher rates from next year, after several members posted significant third-quarter losses
FMC Clears Tariff Files to Prevent Fraud The Federal Maritime Administration's cleaning of its ocean carrier tariff files may help prevent shippers from being scammed by an...
ILA, NYSA to Give Hiring Preference to Veterans The International Longshoremen's Association and the New York Shipping Association said they will give hiring preference to Iraq and Afghanistan...
Containerized Exports Rose 6.7 Percent in Third Quarter U.S. containerized exports rose 6.7 percent in the third quarter, the eighth straight quarter of expansion, led by rising demand...
Covenant Loses $11.1 Million, Freight Revenue Falls Covenant Transportation lost $11.1 million in the third quarter compared to a $1.9 million profit in the same period year...
David Noe, APL Vice President of Sales, Dead at 50 David Noe, APL's long-serving vice president of sales, marketing and customer support in the Americas, died last week in Houston...
Cathay Pacific Says Holiday Cargo Peak 'Unlikely' Cargo transported by Hong Kong-based Cathay Pacific and sister carrier Dragonair fell for the seventh straight month in October, and...
Hamburg Regains Spot as No. 2 European Box Port The port of Hamburg wrested back second place in Europe's container league from Antwerp, with a 15.3 percent surge in...
Analyst Says Eurozone Volatility Pulls Down China Exports The Eurozone's lurch from crisis to crisis is the prime reason for the soft Chinese export growth piling downward rates...
Five Carriers to Suspend Asia-Latin America Loop Five carriers that operate three joint services between Asia, Mexico and the West Coast of South America plan to suspend...
Japanese Economy Regains Growth in Third Quarter The Japanese economy grew 1.5 percent in the July-September quarter from the preceding quarter, or at an annualized pace of...
Carriers Consider Lifting Indian Port Congestion Fees Ocean carriers serving India's Port of Chennai said they will consider lifting their bottleneck surcharges if restrictions on cargo movements...
Box Ships Books $5.1 Million Profit Box Ships booked a profit of $5.1 million in the first full quarter since the Greek container ship owner's initial...
Hamburg's HHLA Expands Profit, Warns of Overcapacity HHLA managed to grow revenue and container traffic in a challenging third quarter, but Hamburg's biggest stevedore warned of an...
Rickmers Swings to a $11.1 Million Profit Rickmers Maritime Trust swung to an $11.1 million profit in the third quarter from a $54.6 million loss a year...
Trans-Pacific Carriers Seek Post-Holiday Rate Hike Trying again to stop the erosion of rates that has hit major east-west trade lanes this year, shipping lines in...
When Capacity Turns If there is, as ocean carriers say, too little demand for freight space and too much capacity on the water,...
LTL Pricing Heads Up Less-than-truckload pricing is rising, financial results from the largest LTL carriers show, as tightening truck capacity and rising costs trump...
Measuring LTL Capacity How tight is LTL capacity? That depends on the carrier and its territory. "Capacity (at YRC) is not tight,...
Driving Back to Basics Four months after James Welch rejoined YRC Worldwide as CEO, the scope of his plans for the ailing trucking giant...
Polarizing Perspectives Perspectives, I've learned, are very much based on where you sit, so I was more than interested in what two...
Preventing the Next Big Bang Maritime industry employers are working with longshore unions around the country to prevent potentially deadly refrigerated containers from Vietnam from...
IMF Pushes Exports Egypt is hardly alone in its struggle to find a path to political transition and make reforms that are economically...
Port Horizons Brighten In Egypt, the disruptions of the Arab Spring didn't just disrupt traffic in the congested streets of its ancient cities....
Cloudy Forecasts Short- and medium-term economic forecasts for all of the major countries in the Mideast have been revised downward months after...
After the Spring Nine months after angry crowds brought down the administration of long-time dictator Hosni Mubarak, political and economic uncertainty hang heavily...
Ripe for Inspection Fees Any broker, importer or other U.S. business that agreed eight years ago to be the agent of a foreign food...
Financing Limits Transport Plans For transportation interests who believe the U.S. needs a long-term infrastructure strategy, prospects for funding are dimming. How will a...
Capacity for Contracts If container lines really start parking ships in significant numbers, it may have more to do with 2012 than with...
Load Factors Tumble The effect of the capacity glut on most U.S. trade lanes is clearly visible in the decline in load factors...
RCL still losing in tough Asian market Thai-based Asia-centric carrier, Regional Container Lines (RCL) incurred an operating loss of THB483 (USD15.7) million in the third quarter of the year, albeit ...
K Line boosts South Korea/India coverage Tokyo-headquartered K Line is beefing up its South Korea/India coverage with the introduction of a new Kwangyang/Kaohsiung - West India Express (FIX) service ...
TSA to raise rates on troubled transpac Members of the Transpacific Stabilisation Agreement (TSA) are to raise their freight rates in an emergency rate restoration in order to halt the slide of plummeting ...
India's boxports ahead by 4% Seemingly bucking the consumer austerity-induced slowdown in global demand, India's 13 major ports increased container throughput in the six-months ending October ...
Frankfurt terminal changes name Frankfurt Intermodal Terminal (FIT) has changed its name to Contargo Industriepark Frankfurt-Hochst. As made clear in Contargo's press statement, 'the ...
Salvors readying for removal of Rena boxes
DB Schenker starts rail service between UK and Poland DB Schenker has commenced a weekly block train service between Poland and the UK. The first train departed from Wroclaw on Tuesday evening November 8 and arrived ...
Unions blast MarAd, Matsuda Four U.S. maritime unions say the Maritime Administration and its leader David Matsuda should be "ashamed of itself" for issuing a report comparing U.S. and foreign-flag ship operating costs without seeking their input.
MSC starts matchback system in Belgium Mediterranean Shipping Co.'s Belgian branch has set up a new system to encourage inland matchbacks of its containers allowing importers, exporters and truckers to round-trip into Antwerp.
TSA seeks interim $400 per FEU min.
Five lines rationalize Asia/Mexico-WCSA capacity Waiting for confirmation from Hamburg Sud that these are the services are involved
IFO prices firm in Fujairah Deliveries in Cape Town available for supply between November 17-28 November.
Svitzer develops ECOtug New type of harbour tug that consumes less fuels, spills less oil and is more maneuverable than other tugs will be delivered in December.
Prices mixed in Rotterdam Buyers left wonder what is supporting the market, player tells Bunkerworld.
IMO mandatory GHG measures to cut billions from fuel bills Study of EEDI and SEEMP effect predicts 13% CO2 reduction by 2020 and 39% by 2050 compared with BAU scenario, but still with net growth.
Decline in bunker volumes continues Japanese bunker sales 18% down year-on-year.
Drive for fuel-efficient, less polluting engines boosts shipyards US shipyard says government incentives have been 'a shot in the arm.'
Bunker prices generally firming in Asia Demand mixed at major Asian bunker hubs on Monday, traders say.
TSA members to raise rates to halt losses Says correction is both 'imperative and overdue'.
Singapore's October bunker sales down Fall in sales volumes in line with slow global trade, say players.
Maersk orders second generation exhaust gas system Exhaust gas system compatible with different types of bunker fuels, says MAN Diesel.
BIMCO adds new bunker clauses for time charter parties New clauses to address importance of bunker issues and minimise risk of bunker disputes, says BIMCO.
Salvors to remove last of bunkers from grounded box ship Work will continue for 'some time' to ensure all accessible oil is removed from Rena, says Maritime New Zealand.
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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