LNG freight rates up on demand surge Record demand for liquefied natural gas (LNG) is causing the decade-long glut of vessels that carry the fuel to disappear, doubling freight rates and at least tripling profit for shipping lines Golar LNG Ltd and Exmar NV.
Korea Line falls to lowest in over four years Korea Line Corp, South Korea's second-largest operator of dry-bulk ships, plunged to the lowest in more than four years after a Seoul court accepted its application to enter receivership.
ICS changes policy on private armed guards The International Chamber of Shipping (ICS) has changed its policy on private armed guards, and now accepts operators must be able to defend their ships against rising pirate attacks, the chamber said on Tuesday.
Kuehne + Nagel to provide logistics support for new offshore oil fields in Norway Eni Norge has awarded a four-year contract to Kuehne + Nagel to provide integrated transport, forwarding and customs clearance services. Eni Norge is part of the Italian integrated...
Dachser collaborating with Brummer in Austria Dachser, a global logistics provider, is entering an exclusive partnership in its food logistics business segment with Austria-based Brummer Logistik GmbH to provide temperature-co...
Jöbstl building new handling terminal in Austria The Austrian forwarding and logistics company Jöbstl has launched another programme to upgrade its service portfolio. At the end of January, a ground-breaking ceremo...
Boeing celebrates premiere of new B747-8 intercontinental giant The US airframe constructor Boeing unveiled its new gigantic B747-8 intercontinental aircraft last weekend (12-13 February). Approximately 10,000 guests, including custom...
Four new PPP airport projects in the Philippines The Philippine Government has identified four immediate public-private partnership (PPP) airport projects for 2011. Foreign investors are being asked to invest in infrastructure th...
Air Asia has big plans for Europe Air Asia expanded its European network again on 14 February. Air Asia, a long-haul subsidiary of the Malaysian budget carrier, now flies to Paris Orly four times per week...
Maersk Drilling orders two jack-up rigs Maersk Drilling, an entity within the A.P. Moller-Maersk Group, has signed a contract with Keppel FELS Ltd in Singapore for the construction of two ultra harsh, high capacity jack-...
VSTEP and CIEMF consolidate training and distribution partnership for Argentina and Latin America VSTEP, a leading international developer of simulators and virtual training software, recently established an official distribution and training partnership with Centro de Investig...
Toll Global Forwarding: new premises in Switzerland Toll Global Forwarding has announced that it is changing its office location from Kloten to Zurich Oerlikon (both Switzerland). With effect from 28 February 2011, the address ...
De Patrizi confirmed as chairman of Fercargo Giacomo Di Patrizi, the CEO of rail operator Compagnia Ferroviaria Italiana (CFI), was confirmed as chairman of Fercargo, the Italian association of private rail companies that was...
MAN: market leader again in Brazil The MAN production plant in Resende (Brazil) built around 68,000 truck and bus chassis last year. That was 45,500 vehicles, or 50% more, than in 2009 and represents a new productio...
Ex-Iranian boxship finds charterer MSC agrees two-year charter at $38,000 daily for Fourth Ocean as market races ahead
Opec crude output surge to sustainrate rises for VLCCs Middle East to Asia carriers set for boostas Chinese oil demand continues to rise
Buoyant panamaxes push up Baltic Dry Index The Baltic Dry Index rose 35 points todau to 1,271, as panamax rates in both the Atlantic and Pacific trading regions improved further
Seaspan poised to order after winning boxship design fight Owner seeking further price cuts from yards before finally committing to 10,000 teu orders
Military under fire for pirate releases Lack of political will rather than legal framework to blame, says Intertanko
Lack of political will is reason for pirates release The excuse that international law requires pirates to be caught in the act of an attack as a condition for prosecution has no basis in international law
A generation of shipping socialists say 'dugnad' Norwegian industry knows where to find its enthusiasm, innovation and optimism
We should flock to the aid of Chirp The UK's Confidential Hazardous Incident Reporting Programme plays an important role. If its government funding is cut, the industry should chip in to save it
Brussels eyes all-out assault on shipping Alarm raised over possible references to unlimited liability and manning directive in commission White Paper on transport to be published in March
Demand is key issue for post-panamax fleet's future deployment Will a rise in the use of post-panamaxes absorb the arrival of newbuilds?
Tanker owners strike right note for investors' cash Despite a gloomy outlook for mainstream crude tanker markets, companies have found it easy to raise funds
Chinese GDP overtakes Japan but with a pay-off in trade
Eagle Bulk at risk from unpaid charter hire Company cannot afford to have charter hire remain unpaid for the 13 supramax vessels on charter to Korea Line
Hurtigruten posts $3.7m profit in 2010 Returns first profit since its launch in 2006 and sees promising results from cruise division
Maersk Tankers in management reshuffle Henrik Ramskov promoted to chief operating officer to replace Kristian Morch
Logent wins Gothenburg car terminal contract Logistics company secures 10-year contract to operate terminal
Maersk takes advantage of Indian export boom To launch new east-west route between Indian subcontinent and Europe
CSAV expands South America-Europe network To launch new weekly Latin American west coast feeder service
Dover faces tariff rise probe Formal inquiry to be held into objections by P&O Ferries and Norfolkline
Car transport demand helps lift Wilh Wilhemsen profit Wilh Wilhelmsen Holding income in 12 months ending December 31 totalled $2.8bn
NOL posts $461m profit in 2010 Returns to profit in 2010 compared with $741m loss in 2009
Maersk Alabama pirate to be sentenced today New York court to sentence Abdiwali Abdiqadir Muse who pleaded guilty
Dahlman Rose bolsters oilfield services unit Appoints James Crandell to become managing director and global head of oilfield services research
NewLead inks charter deals for panamax pair Long-term charters will take two of its youngest vessels off the spot market
Speak out on piracy The shipping industry needs to go on the offensive in highlighting the issue of piracy
Question of cash TBS International's management has highlighted its commitment to the company by digging deep into its own pocket
LA-LB box imports jump BOX IMPORTS at the ports of Los Angeles and Long Beach are continuing to grow in the new year
Suez revenues fall 1.6% SUEZ Canal revenues slipped 1.6% to $416.6M in January, from $423.4M in December, IHS Global Insight reported today
Japan, India sign trade deal JAPAN and India have signed an agreement that is expected to lead to a "significant boost" in trade between the two countries, IHS Global Insight reported today
Farstad profits plummet NORWAY'S Farstad Shipping today reported a dramatic fall in annual profits for 2010 after its fourth-quarter earnings fell to a small fraction of those recorded a year earlier
Solutions helps pick next-generation ship THIS YEAR'S Nor-Shipping in Oslo will feature two new awards that shine the spotlight on excellence on ship design, shipbuilding and equipment
US awards ship management contracts THREE US ship management companies have been awarded a total $77.36M in contracts to crew and maintain 10 reserve fleet vessels for MarAd
Seadrill offshoot places 25% of new shares SEADRILL today placed 250M new shares with investors, a quarter of the 1Bn shares it intends to issue before its demerger
Baltic states agree on LNG terminal LITHUANIA, Latvia and Estonia plan to seek EU funding for a joint LNG import project, IHS World Markets Energy reported today
IPIC gobbles up CEPSA SPAIN'S markets commission CNMV said today the UAE investment fund IPIC has taken over the vehicle fuel and bunkering company CEPSA
Capesize bunkering pushes up rates BROKERS in Singapore have told Fairplay that pricier bunkers have encouraged Capesize owners to refuel ships in the city-state before deciding whether to seek business in Australia or Brazil
Wilh. Wilhelmsen gained at 2010's end NORWAY'S vehicle carrier and auto logistics group Wilh. Wilhelmsen said today it had net profits of $102.4M in the last quarter of 2010, from $71.4M in that period of 2009
Guangzhou shares rise on deal SHARES of China's government-owned Guangzhou Shipyard rose today after it said it would increase its stake in a related company
Keppel shares surge on orders AS KEPPEL Corp's orderbook grows, so does the Singapore company's stock price
STX OSV sees oil demand boost STX OSV told Fairplay today that rising oil demand is expected to drive new orders this year
Oz cyclone threat intensifies THE CYCLONE risk for northern Australia has increased, with a new storm off the northwest joining the upgraded Cyclone Carlos in threatening the region.
Q&A: Touring the Panama Canal Expansion Project In this podcast, Senior Editor of Trans-Atlantic Peter T. Leach talks with Managing Editor Dana L. Brundage on location from...
Cleveland Drops Trucks for Passenger Ferry The Cleveland-Cuyahoga Port Authority is shifting its plans from a freight-focused ferry service across Lake Erie to Canada to focus...
Maersk Alabama Pirate Sentenced to 34 Years The sole surviving member of the Somali pirate crew who hijacked the U.S.-flag Maersk Alabama in 2009 was sentenced Wednesday...
FMC Approves Tariff Exemption for NVOs The Federal Maritime approved rules Wednesday that would exempt non-vessel-operating common carriers from the legal requirement to use published tariffs...
Poultry Export Volume Falls as Value Rises U.S. poultry exports declined 4.4 percent in volume but increased 0.2 percent in value last year despite trade frictions with...
FMCSA Extends Trucker HOS Comment Period The Federal Motor Carrier Safety Administration will take comments on its proposed truck driver hours of service rules until March...
Mica 'Deeply Disappointed' at Fla. Ending Rail Project Rep. John Mica, R-Fla., who chairs the House Transportation and Infrastructure Committee, said he is "deeply disappointed" at Wednesday's decision...
Fla. Governor Seeks Dredging, Highway Funds Over Rail Florida Gov. Rick Scott submitted a list of major freight-related port and highway project needs to Transportation Secretary Ray LaHood...
Pasha Orders Car-Truck Carrier for Hawaii Trade Pasha Hawaii contracted with VT Halter Marine in Pascagoula, Miss., for construction of a second pure car/truck carrier for use...
Container Rate Index Dips for First Time in Year Spot rates on a key trans-Pacific container route fell 2.4 percent last week from a year earlier - the first...
Truckload Rates Seen Rising 5 to 10 Percent Truckload carriers are seeking rate hikes ranging from 5 to 10 percent as annual contracts come up for renewal, Wall...
LaHood Says Other States in Line for Fla. Rail Money Plenty of other states will want the passenger rail money that Florida's governor rejected, said Transportation Secretary Ray LaHood, while...
NY-NJ Port Urges Support for Dredging Funds The Port Authority of New York and New Jersey's top officer urged Congress to support President Obama's budget proposal to...
US Steel Exports Grew 29.3 Percent in 2010 U.S. steel exports jumped 29.3 percent to 12 million tons last year despite a 0.1 percent dip in December volume,...
DP World's Cochin Terminal Stands Idle Trade moving through India's Port of Cochin is at a complete standstill as the planned transfer of container activity from...
Wilh. Wilhelmsen Boosts Profit 13.5 Percent Norway's Wilh. Wilhelmsen Holding boosted earnings 13.5 percent in 2010 from the previous year, driven by strong growth in auto...
United Arab Shipping Inks $302 Million Ship Loan United Arab Shipping Company finalized a $302 million loan facility to finance the acquisition of three remaining container vessels of...
England Logistics Buys TMS Technologies England Logistics acquired TMS Technologies of Alma, Mich., giving the subsidiary of trucking giant C.R. England access to new logistics...
Savannah Container Volume Grows 5 Percent in January Container traffic through Savannah posted a year-to-year gain of 5 percent in January while the port's intermodal rail traffic posted...
Fla. Governor Kills Major High-Speed Rail Project Florida Gov. Rick Scott is rejecting the Obama administration's grants for a major high-speed rail project between Tampa and Orlando,...
STB Proposes Big Cut in Shipper Complaint Fees The Surface Transportation Board wants to make it cheaper for frustrated rail shippers to file formal complaints over rates and...
Industrial Production Dipped in January U.S. industrial production fell 0.1 percent in January as a weather-related decline in utility output offset a continued upswing in...
DB Schenker Opens Hub in Leipzig for BMW DB Schenker is setting up a logistics center in Leipzig, Germany, to supply auto components to BMW car plants in...
ANA Carries 29 Percent More International Cargo Japan's All Nippon Airways said its international cargo volume increased for the 16th consecutive month in December on a year-on-year...
NOL Posts $461 Million Profit for 2010 APL's parent company reported fourth quarter net earnings of $177 million, reversing last year's losses and pushing 2010 net profit...
MSC Raises US Outbound Rates to Asia Mediterranean Shipping Co. announced new rate increases for U.S. export cargo to Asia on Tuesday, the latest in a series...
Social network for seafarers Website offers social forum for seafarers and visually enticing image bank for owners on the lookout for eastern European job seekers.
Somali pirate sentenced FBI says 34-year prison term for Maersk Alabama hijacker sends clear message that pirates are not beyond reach of US justice.
Sevan fined by Oslo bourse Offshore owner slapped on the wrist after failing to report timely update about FPSO equipment failure.
Dahlman seals new hire US investment bank bets on future of oilfield services sector as it poaches James Crandell from Barclays.
Danish ferry dented in gales Thor Sydfyen temporarily out of service after hitting the side at Fynshav pa Als.
Omega sells JV stake George Kassiotis-led Greek tanker owner sells off part of stake in Glencore joint venture to fund new ships.
Polarcus lands project Rolf Ronningen-led seismic syndicate scores two-month contract for newbuilding bankrolled by market raid.
Shanghai founds fund Chinese city aims to raise $7.6bn to invest in shipyards and ports throught to 2020.
Sick crewman saved Seafarer suffering severe chest and stomach pain taken from Pacific Duchess off India.
Solstad mulls bond blitz Oslo-listed offshore owner looks to tap Norwegian bond market as it races to refinance debt.
'No big drama' for Farstad Fall in Norwegian owner's operating profit comes as no surprise to the market.
MHI snares $1bn order Petroleum Geo-Services turns to Japanese yard with potential four ship seismic deal.
NewLead twins fixed Nasdaq-listed owner reveals long-term deals for a pair of products tankers at growing rates.
NOL shatters bets Singapore-listed container line powers past forecasts in Q4 but it is not getting carried away by the revival.
Bisignani pleads for third Hong Kong runway The International Air Transport Association on Wednesday called on Hong Kong authorities to move forward with plans for a third runway at Hong Kong International Airport. "Hong Kong outperforms its population size on the world stage because of its...
OOCL rejoins Hapag-Lloyd transatlantic shuttle Hong Kong-based liner carrier OOCL said Tuesday it will rejoin as a slot buyer a Hapag-Lloyd-operated transatlantic service due to restart March 13. The German line said Monday it isstarting its ASE service again, with an added call at Hamburg . Th...
Japan Big 3 add Quetzal to Asia/South America An Asia-West Coast South America service operated by Japan's Big 3 liner carriers is being amended to include a call at the Central American port of Puerto Quetzal, according to American Shipper affiliate ComPair Data. The ALEX 2/ANDES-2 service is...
Maersk starts India/Europe service Maersk Line and subsidiary Safmarine will start a service linking the Indian Subcontinent, Middle East and northern Europe in March. The ICON service will operate with seven 3,400-TEU vessels with a port rotation of Chennai, Colombo, Salalah, Zeeb...
CKYH to start Asia loops in spring CKYH Alliance carriers are due to introduce two strings from Asia in April and May, according to the maritime news serviceAlphaliner.One will be a sixth Asia/northern Europe loop, NE-6, to be operated with nine post-Panamax vessels with a rotation ...
MSC raising U.S. export rates to Asia The Swiss liner carrier MSC said Tuesday it is increasing rates on U.S. export shipments to Asia. The increase, $100 per TEU for dry cargo and $150 for reefer cargo, is applicable to all U.S. origins and all Asian destinations from March 15....
UASC secures financing for mega ship order Liner carrier United Arab Shipping Co. said Tuesday it has secured $302 million term loan facility to finance the acquisition of three 13,100 TEU vessels. The vessels are the remaining three out of an order of nine such vessels, which the carrier c...
APL nets nearly $500 million in 2010 Liner carrier APL reported $490 million in operating profits in 2010, a year after it lost $698 million, APL's parent company NOL said Wednesday. APL's revenue rose 47 percent in 2010 to $8.3 billion, aided by "higher volumes of cargo transported ...
Rebound continues Work starts on Long Beach Middle Harbor projectLong Beach Board of Harbor Commissioners this week approved a $123 million dredging and wharf building contract that officially starts construction of the landmark Middle Harbor Redevelopment Project, ...
Reseach vessel order to Rauma shipyard The Ministry of Fisheries and Marine Resources of the Republic of Namibia has ordered a fisheries research vessel from STX Finland Oy for delivery in spring 2012. The contract has
Start of St Petersburg'Stockholm ferry service in late March St. Peter Line starts up their ferry service between St. Petersburg and Stockholm with the Princess Anastacia (ex Olympia) on March 31, 2010. There will be two sailings a week
Tallink largest in Tallinn During 2010 Tallink counted for 61 per cent of the seaborne passengers travelling through the port of Tallinn. Tallink operates two services from Tallinn, one to Helsinki and one to
Lisco Gloria to be broken up in Klaipeda On February 16, 2011 DFDS Seaways' badly damaged ro-pax vessel Lisco Gloria leaves Odense under tow for her last voyage to be broken up at Klaipeda by BLRT Grupp's
Logent takes over Gothenburg car terminal The Swedish logistics company Logent takes over the car terminal at Port of Gothenburg, the concession agreement runs over a period of ten years. "Logent is an innovative, rapidly growing
IFO prices steady in Rotterdam and Hamburg In Hamburg, supplier short on low sulphur fuel oil (LSFO) products for prompt delivery.
Fuel oil duty to rise Russian tariffs on crude oil exports at two-year high.
NOL highlights slow steaming as profits grow But rising bunker prices will 'weigh on' future operating costs.
Fuel oil cargo sold at $8-9 premium Traders say high premium is 'in line' with recent transactions in the 'tightly supplied' East Asian market.
FAL Oil resumes 'normal bunkering' at UAE ports Bunkering ops at Khor Fakkan resume on Wednesday after more than a month's suspension.
Bunker prices fall at major ports Demand at key Asian ports mostly below average on Wednesday.
WFS sues Korea Line for unpaid bunkers Files complaint against the troubled shipping firm for $980,597 in unpaid bunkers and services provided to two vessels.
South China's February fuel oil imports fall 13% Mostly due to ample stocks brought over from January and sluggish demand, says local importer.
Tight bunker supplies 'finally ease' in Hong Kong Replenishment cargo arrives at the port; another is expected later this week.
Singapore shipping firm to implement bunker recovery scheme Scheme to be implemented due to rising bunker prices, says Sea Consortium Pte Ltd.
KPI Bridge Oil moves New York offices KPI has moved its New York offices to 'accommodate further expansion.'
'Off spec' fuel blamed for tanker engine failure Ministry called the vessel, which was carrying 307,000 barrels of heavy fuel, a 'serious' threat to the protected waters.
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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