Baltic index falls further on entry of record freighter The Baltic Exchange's main sea freight index, which tracks dry ship rate commodities, fell for a fifth session day on Monday as a record-sized iron ore freighter entered the market, sparking fear of oversupply.
Panamax ships out-earn larger capesizes Panamax ships that haul iron ore and other dry-bulk commodities earned more money than capesizes at least twice as big for a 93rd straight session as a glut of orders weighed on rents for the larger vessels.
Several Asian firms rally on MSCI inclusion news South Korea's KP Chemical Corp, the Philippines' International Container Terminal Services Inc and St Petersburg- based LSR Group jumped after MSCI Inc said they will be added to benchmark indexes.
Motoring
Toyota loses bid to dismiss US lawsuits Toyota Motor Corp lost a bid to dismiss lawsuits by car owners alleging economic loss related to unintended acceleration when a federal judge overseeing the suits made final an order allowing the claims to go forward.
Honda CFO says parts supply recovery picking up The recovery in the supply of parts to Honda Motor is gathering pace, the automaker's chief financial officer said yesterday, as the company looks to bring forward its return to normal production after a March earthquake and tsunami in Japan disrupted supply chains.
Chinese auto firm Pang Da saves Saab In the latest twist in its frantic struggle for survival, the Swedish company Saab Automobile on Monday signed a tentative financing and import deal with the largest publicly traded car distributor in China.
Baltic index falls further on entry of record freighter The Baltic Exchange's main sea freight index, which tracks dry ship rate commodities, fell for a fifth session day on Monday as a record-sized iron ore freighter entered the market, sparking fear of oversupply.
Panamax ships out-earn larger capesizes Panamax ships that haul iron ore and other dry-bulk commodities earned more money than capesizes at least twice as big for a 93rd straight session as a glut of orders weighed on rents for the larger vessels.
Several Asian firms rally on MSCI inclusion news South Korea's KP Chemical Corp, the Philippines' International Container Terminal Services Inc and St Petersburg- based LSR Group jumped after MSCI Inc said they will be added to benchmark indexes.
Motoring
Toyota loses bid to dismiss US lawsuits Toyota Motor Corp lost a bid to dismiss lawsuits by car owners alleging economic loss related to unintended acceleration when a federal judge overseeing the suits made final an order allowing the claims to go forward.
Honda CFO says parts supply recovery picking up The recovery in the supply of parts to Honda Motor is gathering pace, the automaker's chief financial officer said yesterday, as the company looks to bring forward its return to normal production after a March earthquake and tsunami in Japan disrupted supply chains.
Chinese auto firm Pang Da saves Saab In the latest twist in its frantic struggle for survival, the Swedish company Saab Automobile on Monday signed a tentative financing and import deal with the largest publicly traded car distributor in China.
Time:matters adds Santiago de Compostela to Spanish network Time:matters, an expert for global special speed logistics and member of Germany's Lufthansa Group, has expanded its sameday air station network by another European location. Addit...
DB International withdraws from railway project in Israel DB International has decided to withdraw from a project to construct a new railway line that is to link Tel Aviv and Jerusalem in 28 minutes in 2017, according to Spiegel Onli...
African Development Bank's main strategy for Central Africa According to the African Development Bank (AfDB) Central Africa has the worst infrastructure on the continent. The asphalted roads represent less than 20% of Central Africa's entir...
Kombiverkehr gives green light for CO2-free transport and a new express Transport network forwarders and transport companies can now arrange to send truck consignments entirely by rail without producing any carbon dioxide (CO2). This has become possibl...
Qatar Airways Cargo opens dedicated route to Kuwait Qatar Airways Cargo has expanded its dedicated freighter routes with new services to Kuwait. The link, which is operated by Airbus A300F equipment, complements the existi...
Icelandair starts seasonal Washington-Reykjavik service Icelandair, the national carrier of Iceland since 1937, is launching a four-flights per week seasonal service from Washington-Dulles international airport (USA) to Reykjavik (Icela...
AutoBank moves into the profit zone AutoBank AG, an Austrian enterprise that is dedicated to financing commercial vehicle and automobile dealers, reported earning EUR 0.19 million after tax in Q1/2011, compared to a ...
Africa: road accidents come at a high cost to African countries Africa has the highest road injury rate in the world, at 28.3 injuries per 100,000 people. Up to half of all hospital surgical beds are occupied by patients injured on roads, and t...
Tibbett Logistics founded in Romania Keswick Enterprises Ltd - a UK-based privately owned holding company focused on supply chain related businesses is officially establishing a new company - Tibbett Logistics - in Ro...
Flash Europe expanding in Russia and Turkey Flash Europe, a French specialist for swift transport services, recently opened a new branch office in St Petersburg (Russia) and one in Istanbul (Turkey). The company chose Istanb...
Vanguard Logistics moves to larger facility in Shanghai Vanguard Logistics Services has announced that its Shanghai warehouse has relocated to a larger facility due to customer demand. The upgraded warehouse is well equipped to handle a...
Freightliner appoints new head of corporate communications The British service provider Freightliner recently appointed Mary-Clare O'Boyle as head of corporate communications. O'Boyle has worked within the Freightliner communications team ...
Magdeburger Hafen GmbH lands mineral oil handling contract The companies Magdeburger Hafen GmbH and Magdeburger Umschlag und Lagerterminal GmbH (MUT) recently signed a contract for rail transport and mineral oil product handling at the inl...
CMP and Finnlines move to Malmö's North Harbour Over the past two years CMP has been planning, building and preparing for its move to Malmö's North Harbour, Norra Hamnen. Yesterday (16 May) the move became a reality as the Finni...
APM Terminals signs 30-year Callao terminal concession A 30-year contract, which covers the development and operation of the Terminal Muelle Norte in Peru's largest port of Callao, has just been signed. APM Terminals was the winner in ...
Corrigendum: Thomas Knopf re-elected as VBSL president Due to a technical defect in the IT system, an identical and regrettable error crept into the ITJ Dailies from 10 and 16 May 2011. The correct name of the president of the associat...
Manual for construction and approval of railways and rolling stock The railway industry in Germany now has a publication entitled "Manual for railway vehicles - Guide for construction and approval" that specifies uniform and binding standards...
Small LPG orderbook to keep charter market stable StealthGas says gas sector more favourable market to operate in than dry bulk and tankers
Three panamaxes available for every Pacific spot cargo Brokers expect charter rates to plunge over the next week as 'fierce competition' hots up
Teekay LNG eyes growth opportunities Teekay LNG partners said its total liquidity of around $600m is allowing it to pursue a variety of growth opportunities in the liquefied natural gas sector, as new projects come on stream and the LNG spot shipping market booms
Interest rises in small LPG carrier sales A number of small size liquefied petroleum gas carrier sales have been reported by brokers, highlighting increased interest in this sector
Owners lured to demolition markets by high prices OWNERS of large dry bulk carriers are ecoming increasingly interested in demolition market, as current scrap prices of more than 500 per ldt provide healthy returns on elderly tonnage
Brussels raids box lines Brussels confirms officials carried out unannounced inspections at the premises of companies active in container shipping in several EU member countries
Italy moves on armed guards Politicians work on decree to protect Italian-flagged ships from pirates
Germany makes tonnage tax U-turn Tonnage tax linked to flag of any EU state
Mottled history of co-operation and suspicion The abolition of the conference system in 2008 followed more than two decades of confrontation with the European Commission
Irish ports face historic reform Review by leading economist recommends privatisations and mergers
BNP Paribas requests $42.5m as minimum bid for arrested Korea Line aframax Fine print comes into sharper focus as court-supervised auctions proceed
Investor bids for Croatia's shipyards A Croatian businessman bid for three of the country's shipyards
K Line hit by ¥1.9bn back taxes claim Japanese carrier says 'discrepancies' due to differences in understanding with tax bureau on chartering
Felixstowe rail terminal wins $7m funding from EU Development marks drive to shift hinterland container traffic off the roads
SCI eyes box service between India and US Shipowner seeks to grab greater share of rapid growth of Indian trade
Hold the line Box lines should not be tempted to race for market share by freight rate reductions
Passage in India A judge's common sense has prevailed in the battle over a port operator's right to bid for the fourth container terminal in Jawaharlal Nehru Port Trust
Supply chain heavyweights launch environment campaign Founders of Forum for the Future's Sustainable Shipping Initiative publish white paper identifying climate change and oil supply as key challenges
Macquarie points to stronger third quarter for Asian container lines Prospects for dry bulk operators remain bleak but increased scrapping offers ray of light
Crucial drawback that is destroying productivity Tax rebates are keeping exporters in business, but result in customs checking every single shipment against claims for repayment of duty
Goldenport eyes bulker bargains Supramax focus has turned out well, claims chief executive Paris Dragnis
Japan's ship export sales failing to halt decline in orderbook Improvement in the flow in orders is still lagging year-on-year
India's tangled red tape chokes vital ports investment Huge growth opportunities are emerging as Indian manufacturing gains momentum, but infrastructure projects are being delayed by bureaucracy and litigation
Improved LPG rates sustain StealthGas Time charter earnings increase but expenses rise as bareboat charters dip temporarily
Rongsheng's crucible Is China's most ambitious shipyard doing enough to offset a fall in dry bulk orders?
World Shipping Council warns of container box shortage Carriers and shippers urged to improve planning techniques to manage constraints
Shouldering the burden of proof The Angeliki B judgment highlights the importance of laying down correctly which party should prove what in a case concerning loss or damage
Construction law and shipbuilding delays In the Adyard decision, the court reaffirmed construction law principles relating to causation
Marsh offers a cushion against charterers' collapse New product launched in response to rise in bankruptcies
Marseilles raid under way CMA CGM acknowledged to Fairplay this afternoon that an "inspection" by EC officials is in progress at its Marseilles headquarters
Shipping spared river harm RECORD water levels on the Mississippi are causing relatively little harm to Gulf shipping and US exports, a Wall Street study reported today
Germans cash in on boxes A GERMAN KG fund has sold its box fleet's 171,000teu container aggregation ahead of schedule to exploit the box sector's rise
Seafarer found dead after attack A FILIPINO seafarer has been found dead four days after a Marshall Islands-flagged chemical tanker was attacked by pirates off West Africa
Greeks seize 70 migrants GREEK authorities have seized 70 migrants trying to smuggle themselves into Italy
Greek owners shift bets OWNERS in Athens have refocused on box ship plays after being convinced that bulkers will suffer a lengthy malaise, Deutsche Bank analyst Justin Yagerman reported today
Russia port volumes fall VANINO, Russia's Far East port, had an 11% year-on-year throughput drop over January-April, to 1.82M tonnes
Tight box supply warned PEAK BOX season equipment supply will be tight this year, the World Shipping Council has cautioned
Colombia box terminal opens SPANISH port operator Terminales de Contenedores has opened its latest container terminal, TCBuen, at Colombia's principal port of Buenaventura
Fluxel takes hold at Marseilles LEADING French oil port Marseilles said today that newly constituted terminal operator Fluxel has begun operating its Fos and Lavera oil terminals
Goldenport hails shift GREECE'S Goldenport Holdings said today it is satisfied that it decided to focus on Supramax bulkers
Owners count rising Mississippi costs DESPITE relief provided by opening a floodway on the lower Mississippi, terminal closures on the river are costing ship operators money
HMM wins coal deal HYUNDAI Merchant Marine of South Korea said today it has signed a 130Bn won ($119.4M) coal transport contract with Korea Midland Power
Army Corps to Fund Charleston Deepening Study The prospects for deepening the Port of Charleston's harbor beyond its present 45 feet depth took a step forward Tuesday...
EU Officials Raid Ocean Carrier Offices UPDATED 12:20 p.m. EST Hapag-Lloyd and CMA CGM confirmed they are among ocean carriers whose offices were raided today,...
Charleston Container Throughput Climbs 10 Percent Container throughput in the Port of Charleston increased 10 percent in the first 10 months of fiscal 2011, from July...
GT Nexus Sues INTTRA in Patent Dispute GT Nexus, an Internet-based portal for electronic cargo bookings, is suing e-commerce competitor INTTRA in a dispute over patents on...
Mississippi River Closed Near Natchez A 15-mile stretch of the Mississippi River near Natchez, Miss., is closed to barge traffic, severing a busy route for...
Truck Spot Market Volume Slipped in April TransCore's North American Freight Index fell 14 percent in April from March, when the index reached its highest level since...
Key Cross-Border Trucking Route Reopens A key cross-border trucking route linking Western Canada and the U.S. is open to traffic Tuesday after being closed for nearly...
CEVA to Close Ohio Distribution Center CEVA Logistics US said it will close a logistics center at West Chester, Ohio, following "a very recent decision by...
GAO: FDA Lacks Criteria to Safely Manage Seafood The Food and Drug Administration lacks the resources, procedures, criteria and standards to manage the safety of imported seafood, the...
Ocean Carrier Profits to Fall, Alphaliner Says The financial performance of ocean carriers will deteriorate in the second quarter as falling freight rates and rising operating costs...
UASC Hikes Piracy Risk Surcharges United Arab Shipping Company announced an increase in its emergency risk surcharges on containers moving through the pirate-infested waters of...
Grup TCB Opens Colombia Terminal Spanish terminal operator Grup TCB officially inaugurated its new container terminal, TCBuen, in ceremonies in Buenaventura, Colombia. The...
Japan Delays Decision on Trans-Pacific Pact Japan will delay any decisions on whether to join negotiations toward a U.S.-led trans-Pacific free trade agreement under new economic...
Agility Profit Slumps 56 Percent Agility, the Kuwait-based global logistics company, reported first quarter profit plunged 56 percent from a year ago because of costs...
Bulker crewman injured Greek seafarer taken to hospital in Bermuda after fall from scaffolding on Golden Flame capesize.
LSC returns to profit Slimmer Lithuanian bulker owner starting to turn it around in the first quarter.
HMM clinches coal deal Korean owner's bulkers to carry 1m tonnes per year for Korea Midland in deal worth $119m.
Liner giants raided The EU Commission marched through the doors of some of Europe's biggest container lines today as part of a price fixing probe.
Koncar still in hunt Croatian tycoon interested in buying three domestic shipyards but would move "part" of the industry to China.
More radiation found Maltese authorities discover minimal contamination from Japanese reactor on another car carrier's vehicles.
Sveaas plots profit course Rederi AB Transatlantic chairman says Osterstroms takeover and restructuring will lead the Swedish owner's shipping wing back into the black from 2012.
German VLCC attacked Dr Peters tanker narrowly survives a scrape with pirates off Oman as spate of attacks in the area continues.
Casino crew in limbo Owners locked in tussle over who should pay Honduran seafarers on gambling ship in Bermuda.
Thais get tough Thailand's navy to place four armed guards on each domestic cargoship to deter attacks in Gulf of Aden.
Fuel costs hit ICG profit The Irish ferry operator is languishing in the red so far in 2011.
Pirates kill crewman Filipino seafarer found dead on Greek tanker following attack off Benin in West Africa.
Soros grabs GMLP stake Hedge fund billionaire has built up a $30m holding in John Fredriksen's recently listed Golar Partners.
Mitsui plays long game Japanese shipbuilder targets operating profit of JPY 25bn by 2014, with revenue bar set at JPY 730bn.
Fund's Star Bulk sale Giovine Capital raises around $10m after shedding nearly 5% of the Greek bulker company.
Tax hit for K Line Giant Japanese shipowner may have to find JPY 1.9bn to settle income tax bill after audit.
Hunt for missing Greek US Coast Guard scouring Atlantic for man who fell from Eletson tanker off Dominican Republic.
Paris plans buying re-run Goldenport Holdings is lining up bulker buys during downturn after success of boxship expansion while sector was under the cosh, CEO says.
K + N pumps up Danish oil-gas sector Kuehne + Nagel has opened a new facility in Esbjerg, Denmark, increasing its presence in the Danish market, especially in the oil and gas sector. As the largest North Sea port in Western Denmark, Esbjerg is a main location for the many supply vesse...
FDA filleted over imported fish inspections The U.S. Food and Drug Administration has not kept up with inspecting farm-raised fish imports for potentially dangerous drug and antibiotic residues, acongressional watchdog agency report said . U.S. fish imports have increased significantly duri...
U.S. pressures Guatemala on labor front The Obama administration on Monday requested a meeting of the Free Trade Commission under the Dominican Republic-Central America-United States Free Trade Agreement (CAFTA-DR) regarding Guatemala's failure to enforce its labor laws. "While Guatemal...
Teamsters oppose Mexico truck program Teamsters President Jim Hoffa said the U.S. Department of Transportation should not open the border to Mexican trucks because of concerns about job loss, border security, highway safety and the legality of the program. He said DOT's proposal to op...
WFS wins Continental contract in Heathrow Worldwide Flight Services has strengthened its position as the largest cargo handling at London's Heathrow Airport by winning a contract from Continental Airlines and acquiring the lease on a further 60,000 tons capacity cargo terminal. Continental...
Maersk adjusts AE1 rotation Maersk Line has amended the rotation and number of vessels deployed on its AE1 service between Asia and Europe, American Shipper affiliate ComPair Data reports. The revised AE1 rotation will be Kobe, Nagoya, Yokohama, Ningbo, Shanghai, Hong Kong, Y...
Hapag-Lloyd borrows $925 million for boxships German container line Hapag-Lloyd has secured a loan for $925 million with a consortium of banks to finance the construction of a series of large container vessels on order in South Korea. The loan, arranged by Citibank, Deutsche Bank, HSBC, KfW IP...
WSC projects peak season container shortage Shippers should expect a container shortage to affect peak season this year, according to a report released Tuesday by the World Shipping Council. According to the report,Container Supply Review , a dearth of container manufacturing during the dar...
EC checking for antitrust violations The European Commission said its officials have conducted unannounced inspections at the offices of container liner shipping companies Tuesday, saying it "has reason to believe that the companies concerned may have violated the antitrust rules tha...
Fujairah prices soft Deliveries available up to and including May 31 in Cape Town.
Prices fall in Rotterdam Many suppliers have a great fear of rapidly dropping prices, a player told Bunkerworld.
CO2 restrictions for shipping 'won't be pretty' Consultancy points to challenges faced by EU in its plans for aviation.
Bunker prices hit ferry operator's profits Rising fuel costs are 'greatest threat' to ICG's financial performance.
Fuel standard revision still causing controversy Inspectorate attacks aspects of ISO 8217:2010 as 'meaningless' or questionable.
'Sustainability' key to remaining competitive, say industry players Shipping's 'social and environmental performance' is likely to face increased scrutiny.
Asian bunker prices mostly down Demand slow in key Asian ports on Tuesday.
Dan-Bunkering appoints new trader New trader joined company's Singapore office this month.
High bunker costs weigh down STX Pan Ocean Q1 results Demand 'likely to fall far short' of vessel supplies this year, company says.
Rotterdam port to pioneer LNG-powered inland barge operations Port of Rotterdam Authority also working together with Dutch government and DNV in pilot program.
Tight avails start to ease at South Korean ports Bunker avails 'may still tighten', says trader.
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