Container oversupply may last five years The container industry may be facing half a decade of oversupply that will curb freight rates as shipping lines launch vessels into a global trade slowdown.
Monarch files US$46m claim against Dubai World unit Monarch Alternative Capital LP, a New York-based investment company, filed a claim of about US$45.5 million in a London court against Drydocks World LLC as the Dubai World unit works on restructuring US$2.2 billion of debt.
Railinc upgrades early warning system Railinc, a wholly-owned subsidiary of the Association of American Railroads, based in Cary NC, announced an upgrade to the early warning/maintenance advisory system that enhances r...
Cuba approves new flight service from New Orleans New Orleans international airport has received approval from the Cuban authorities to receive direct flights. This message was conveyed in a letter to the airport director from Cub...
Nagoya live on Iata's e-freight Lufthansa and Schenker, two large global e-freight movers, have performed the first e-freight shipment out of Centrair airport in Nagoya (Japan), to Frankfurt (Germany). Thanks to ...
DHL Aviation signs contract with Globe Air Cargo in Bulgaria DHL Aviation has appointed Globe Air Cargo as its general sales agency in Bulgaria. The airline operates daily weekday Boeing B757-200 freighter services from Sofia to Leipzig (Ger...
Air France-KLM managing director leaves company Only three months after being confirmed in his post, Pierre-Henri Gourgeon, managing director of the Air France-KLM Group, has been forced to vacate his office. This decision has b...
DHL Express accredited as excellent van operator by FTA DHL Express is the first logistics company in the UK to receive accreditation under the Freight Transport Association's van excellence scheme. Its 1,000 strong fleet was independen...
Panalpina opens Ludhiana branch Panalpina continues to grow rapidly in India. Only two weeks after opening a branch in Jaipur, Rajasthan, the company has now opened another branch in Ludhiana, Punjab. As one of t...
UK rail industry unveils plans for the future The rail industry recently published its visions for the development of rail transport in the UK between 2014 and 2019. The full range of investment options includes the completion...
ICTSI Manila to get eight new RTGs International Container Terminal Services Inc (ICTSI) will take delivery of eight brand new rubber-tyred gantries (RTGs), to support new berth 6 operations at its Manila Internatio...
New Loxx general cargo line direct to Kazan The German transport company Loxx recently started calling at its seventh destination in Russia, namely in Kazan (Republic of Tatarstan). Departures are on Fridays from Gelsenkirch...
Panama Canal sets new record The Panama Canal has reached a new tonnage record in fiscal 2011, which concluded on 30 September. Preliminary figures showed that the canal closed fiscal 2011 on 322.1 million t, ...
New European logistics network ESLA established Four independent companies have bundled their core expertise in the areas of night express and added-value logistics to form a new European network called the European Service Logi...
Capesize rally offers lucrative lock-ins With market uncertainties ahead, owners must decide whether now is the time to secure revenue streams with period charter deals
Drivers behind the capesize rally and threats to its sustainability Six main points to consider
Lines rejig Asia-Latin America loops CMA CGM, MSC and CSAV seek greater efficiencies
Don't mess with the maintenance budget A return to 1980s accountant-driven 'savings' will result in loss of lives at sea
Ecsa spreads the word on CO2 emissions regulations Ecsa's new president tells automotive logistics firms sulphur emission is 'hottest issue' facing shipping
OSG keeps faith with Arntzen Chief executive signs up to 2016 to continue through downturn 'with no distractions'
Saga exits shipping by selling off last two VLCCs Decision to sell, subject to approval at EGM, prompted by bid to secure shareholder value
BHP Billiton iron ore volumes push Australian output to record high Country's top three miners produce 122.9m tonnes in third quarter, up 25% from first
Hopes of boxship charter market improvement by early 2012 Optimism follows talk of panamax owners exiting negotiations due to overly low rates
VLCCs in Middle East helped by positive sentiment in the West Rates for trips to Asia finally tick up after stagnation
Eagle Bulk slips down handymax owner table Chinese companies to dominate market for smaller-sized bulkers
Antipodes' Asia box links grow at expense of European trades Overall capacity grows but European lanes stagnate
Capesize owners warned on strength of China's revival Rally in iron ore trades masks underlying slowdown in country's growth
US deals raise hopes of recovery Obama restates aim to double US exports
Banks favour offshore sector Syndicated lending for first nine months nears $16bn
Tiny harbour, big role model Capri sets the standard in fast ferry turnrounds
Handymax one-year charter rates head for sub-$10,000 level DVB predicts lower prices as newbuilding deliveries intensify competition
Wärtsilä upbeat despite third-quarter setback Delivery timings hit result but orderbook remains strong
Britannia in surprise reduction of deferred call Club sets general increase at 5%
Shipowners' Club makes Singapore appointment New board role flags up loss prevention
Efficiencies boost margins for Essar Ports Better cost control also adds to bottom line
Europe transport links including ports to get $69bn funding from Brussels Connecting Europe Facility will be 'catalyst' for further funding from private sector
IRISL pulls out of Malta Freeport before 2013 ban Move from next month 'a big loss' to transhipment hub
South Korea takes heavyweight title Yards consistently up quality of their vessels, thwarting China's bid to woo Greek owners
DryShips and OceanFreight signal 'vigorous' defence of merger complaint Putative class action has no merit, say owners
Thome gets new managing director Bjorn Hojgaard steps down effective immediately
Cargo surge boosts Eurotunnel Revenues up as truck and passenger numbers rise
Dubai danger US hedge fund writ against Dubai Drydocks World raises default fear
Exclusive: Yildirim blocks CMA CGM 20-ship order Move reveals extent of influence of Turkish stakeholder
South Korean yards win half of all global orders in third quarter Nation's builders outpace China in high-value orders for boxships and LNG vessels
Charleston boxes rise 18% EXPORTS keyed an 18% surge Charleston's container business in September, but most US ports are bracing for slower growth in that sector
Essar Ports leaps 670% MUMBAI'S Essar Ports today recorded a 670% leap in quarterly net profits year on year
Maersk grabs more VLCCs MAERSK Tankers has capitalised on low VLCC freight rates by taking a pair of VLCC newbuildings
Wärtsilä's profits fall FINLAND'S engineering group Wärtsilä said today pretax profits fell to €83M ($114.83M) in 3Q11, from €140M in the same period last year
Ashapura shield assailed EITZEN Bulk has asked a New York bankruptcy judge to reject Ashapura's Chapter 15 protections, calling the application a bad-faith ploy to avert debt repayment
Drydocks faces $45.5M claim DRYDOCKS World of Dubai is facing a claim of $45.5M filed by New York's Monarch Alternative Capital, the investment company told Fairplay today
OSG sticks with Arntzen NYSE-listed Overseas Shipholding Group has retained Morton Arntzen as president and CEO, disproving rumours earlier this year about a possible management change
Subic sanctions rejected MANILA has rejected sanctions against Keppel Subic Shipyard in relation to an accident that killed six workers and injured seven others
Gas carrier fixes high GOLAR LNG, the listed centerpiece of John Fredriksen's LNG activities, said it has agreed principal timecharter terms for a gas carrier
EC takes Italy to court THE EC has referred a case to the European Court of Justice accusing Italy of failing to comply with a Sardinian aid ruling
Asia/East Africa container loops combined CMA CGM and Dubai's Emirates Shipping Line today confirmed a box service expansion in the Asia/East Africa trade
Drybulk waits rise again SNARLS at major drybulk ports have again worsened, with queue numbers rising by 20 ships to total 301 vessels as of 17 October
Asian Aframaxes stay put HIGHER rates for westbound Middle Eastern crude exports have failed to sway Asian Aframax owners who prefer to stay in the east-of-Suez market
BHP iron ore cargoes rise MINING giant BHP Billiton said today rail improvements helped boost shipments of West Australian iron ore to records in the most recent quarter
Doing time inside the box CRIMINALS in South Australia reportedly face prison cells made from old containers, as the state's government today announced plans for a jail extension
Rena Insurer to Meet Disaster Obligations Mediterranean Shipping said Wednesday it is awaiting word from Rena vessel owner Costamare and a salvage company as the ship...
GE Transportation Invests $231 Million at US Plants GE Transportation will spend $231 million to upgrade two factories to meet North American and foreign demand for locomotives, mining...
Study Says St. Lawrence Seaway Supports 226,800 Jobs The release of a study showing the St. Lawrence Seaway system supports 226,800 jobs comes as maritime officials urge New...
Panama Canal Fills First Part of New Lock Channel A segment of the new access channel to the Panama Canal's new locks was filled with water on Wednesday. ...
Japan's Osaka Container Trade Surges 15.2 Percent International containerized trade through western Japan's Port of Osaka in the first half of the year surged 15.2 percent year-over-year...
ILA Moves Headquarters to New Jersey The International Longshoremen's Association relocated its headquarters to North Bergen, N.J., from the union's longtime home in lower Manhattan. ...
Werner Enterprises Profit Up 22 Percent Werner Enterprises increased net profit 22 percent from a year ago to $29.6 million in the third quarter on a...
Shanghai Shipping Exchange President Talks Role in Shipping Market's Future (Video) Zhang Ye, president of the Shanghai Shipping Exchange, discusses what role he sees the exchange playing in the future of...
Homebuilding Rises, Market Remains Weak A jump in apartment construction caused homebuilding to rise at the fastest rate in 17 months, but other data point...
CSX Sees 'Modest Growth' Ahead for US Economy CSX Transportation looks for the U.S. economy and its rail freight traffic to keep growing "at a modest rate" in...
Eurotunnel Revenue Jumps 9.2 Percent Groupe Eurotunnel, operator of the undersea rail tunnel between France and the U.K., boosted third quarter revenue 10 percent year-over-year...
Russia's TransContainer Traffic Up 9.3 Percent TransContainer, Russia's largest rail container operator, boosted third quarter traffic by 9.3 percent year-over-year, partly due to 28.7 percent jump...
CMA CGM, Emirates Upgrade Asia-Africa Service CMA CGM Group and Emirates Shipping Line upgraded their joint service linking Asia to East Africa by deploying larger vessels...
Economist Says US Exports Will Lead Trade Recovery The U.S. container trades will bounce back in the long term, and it will be exports that lead the way,...
Cargolux Begins Two US Services to Australia, Africa Cargolux is launching two new freighter services connecting the U.S. with Australia and the west coast of Africa. The...
Handy owners at risk DVB says 2012 will see a significant rise in handymax owners going bust as rates plunge below breakeven.
Insolvency upside Broker says bankruptcies may help counter tanker tonnage threat as oil majors shy away from cash-strapped owners.
Rickmers bets on Bilbao German project giant puts Spanish port to the test as heavylift traffic climbs amid Saudi transport contract.
Seaboard springs loop US operator launches crusade to link Miami to Mexico with new service onboard 1,100-teu boxship
Vyborg sells a quarter InvestVeritas fund snaps up 25% stake in loss-making Russian shipbuilder.
Van Oord nabs contract Dutch shipowner bags east European port contract valued at EUR 40m.
SCI aframax saved Indian warship thwarts attempted hijacking on tanker Desh Rakshak in Arabian Sea.
Euronav's bad news for rival Oslo and New York-listed Frontline will disappoint the market in Q3 and Q4 if it follows Belgian firm's lead, analysts say.
Saga may call time Arne Blystad-led tanker owner on the brink of closing its doors after penning pacts to sell its last remaining vessels.
Essar Ports profit soars Newly demerged terminals division of Indian group made much more money as volumes increased in Q2.
Profit slips at PST Singapore-listed trust sees profit dip in otherwise solid third quarter results.
Tebma seals dredger deal Indian shipyard teaming with German engineering specialist Vosta to build dredging vessels at Chennai.
ICTS ups port fees Container lines making Manila calls will be facing higher charges.
IFO prices firm in Fujairah For MGO products, deliveries were available for supply up to and including November 2.
Rotterdam prices firm Very few barges available as they were tied up in waiting queues, a player reported.
Ferry industry still struggling with ECA response Conference finds 'no easy answers on fuel and emissions' to cope with 2015 sulphur limit, but also hears arguments for viable solutions.
BP takes storage in Fujairah: Report Oil major returns to fuel oil trading in region for the first time in over 10 years.
Bunker spill: Ship's officers return to court Judge refuses request to allow their pictures to be published.
Piraeus remains closed to bunker operations Bunkering may not go ahead until October 25/26.
Bunker operations face new 'risk-assessment' programme Environmentalists welcome moves to secure funds for California's Office of Spill Prevention and Response.
Engine manufacturer sees growing interest in LNG 'Interest in LNG, environmentally sound designs and fuel efficiency will remain strong,' says Wartsila.
Mid-week IFO prices largely up at major ports Supplies of bunker fuel mixed at key Asian ports on Wednesday.
Companies claim 'world first' in LNG bunkering Product tanker to bunker LNG 'directly via a loading arm at LNG facility'.
Tanker company leases two 'super fuel efficient' VLCCs Maersk Tankers leases two VLCCs from Cido Shipping on long-term bareboat charter.
BIMCO releases EEDI calculator Development and verification testing of EEDI calculator now completed, says BIMCO.
Japanese shipping firm launches carbon calculator Amid increasing public interest in the environmental impact of cargo transport.
Tanker market feels 'no impact' from slow steaming Overcapacity continues to dominate market as slow steaming is 'not widely' implemented, says Euronav.
Fuel pumping operations face further delays Poor weather conditions heighten concerns that the vessel could break up.
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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