NPLs in shipping trade on the rise Norwegian bank DNB, a key lender to the global shipping industry, said its loan book to the sector would worsen in 2012, with non-performing loan rates rising as crude transport rates stay weak and already low dry bulk rates could fall further.
New CEO for Maersk's container-shipping unit AP Moeller-Maersk A/S said Soeren Skou will take over as chief executive officer at its unprofitable Maersk Line container-shipping unit as Eivind Kolding departs to run Denmark's largest bank. Mr Skou, currently head of the company's tanker division, will take his new post on Jan 16, the Copenhagen-based company said yesterday.
The writing's on the wall A French civil guard clearing sand contaminated with fuel on the Kerminihy beach here after the TK Bremen cargo ship was stranded by high winds on Dec 17.
Court puts SeaFrance decision on hold Ruling due today postponed till new year
Hamburg port fees to rise 3.5% Levies for boxships will be capped at 11,000 teu, says port authority
Skou calls for consolidation as he takes top job at Maersk Line Container shipping is in need of shake-out, says new chief executive as he replaces Evind Kolding
Surge in secondhand supramax sales to set fresh price benchmarks One vessel has up to 20 potential buyers inspect it before offers are invited
Oman Shipping Co takes back six VLCCs on charter to Iran's NITC Company considers putting vessels into Navig8's VL8 pool
Impressive legacy During the past five years, Maersk chief executive Eivind Kolding has made his mark
Banks should back steel, not paper World trade will not flow on a conveyer belt of derivative banking
EU shows complacency over threat of piracy While hundreds of seafarers are still being held hostage, attention is being focused on creating contracts for private security firms
VLGC owners holding out for New Year cheer after December runs out of gas Few available cargoes pushes spot market rates to five-month low
Seven owners join forces to map common fuel strategy Norwegian offshore players unite to push oil majors to improve fuel management
Clean Shipping Index verifies Maersk First carrier to have vessel data independently verified and used by cargo owners
First dual-fuel river tanker launched Argonon runs on diesel and gas
Maersk Line nears completion of biofuel tests Two-year trials concluding with month-long test voyage on Maersk Kalmar
SeaFrance future stalled again A PARIS court today postponed deciding on SeaFrance's future until 3 January
Box shipowners return to barrel's bottom CONTAINER shipowners are facing mounting losses as spot charter rates lose more ground amid sluggish fixing
Diana Containerships acquires two more ships SIMEON Palios-led Diana Containerships today announced two more acquisitions and a fresh credit facility with Royal Bank of Scotland
New fine for new spill off Brazil? EVEN AS Chevron faces a huge potential fine for one oil spill, financial fallout might be in store for Japan's Modec because of a new spill off Brazil
Cold water poured on box rate rise A RISE OF $9 in Asia/Europe box rates last week failed to impress shipping brokers
More double-hulled VLCCs acquired by breakers JAPAN'S MOL sold two double-hull VLCCs to breakers last week, raising to three the number of such tankers to be demolished
Star wins freeze order STAR REEFERS has won a worldwide freeze order at the High Court in London
MRs booked at discount COMMODITY trader Cargill has locked in two 46,000dwt MR product tankers for two years, brokers told Fairplay today
TS Lines decides to scuttle box ship plans HONG KONG'S liner TS Lines has apparently decided not to proceed with an order for four box ships at South Korea's Hanjin HI & Construction
Maersk shuffles captains EIVIND Kolding, Maersk Line's CEO, is leaving the Danish carrier to become chairman of Danske Bank's executive board
Strong drybulk S&P continues HOLIDAYS just ahead notwithstanding, buyers remain in the mood for bulkers, brokers told Fairplay
Grounding stirs French anger FRENCH authorities face rising anger today over last week's grounding of the 6,605dwt general cargo ship TK Bremen in southern Brittany
Another KG tanker insolvent WEAKNESS in crude and product tanker earnings is causing increasing distress among German one-ship KG companies
Box EBITDA turns negative EBITDA in box shipping has turned negative because of falling freight rates, which should cause more container ships to be laid up, according to a senior shipping analyst
Erria in debt-to-equity conversion ERRIA, the listed Danish company that recently sold its product tanker business, said today it has extended its restructuring with two debt-to-equity conversions
Diesel Prices Fall at Sharpest Pace Since May 2010 Diesel prices across the United States plummeted 6.6 cents in the week ending Dec. 19, falling at the sharpest pace...
JOC Economist Says Export Growth to Slow in 2012 U.S. containerized exports are expected to rise 3.8 percent next year after a 5.8 percent gain this year, Journal of...
Star Reefers Wins Freeze of Russian Importer's Assets Norwegian shipowner Star Reefers has won a U.K. court order freezing assets of Russia's largest fruit importer, JFC Group, to...
Virginia Gets $26.9 Million for Port Expansion The new 2012 federal budget awaiting President Obama's signature contains $26.9 million in funding for the eastward expansion of Craney...
DB Schenker, Estes in Talks on US Distribution DB Schenker is in talks with less-than-truckload operator Estes Express Lines to turn over management of the forwarder's U.S. ground...
Vietnam Receives Its Largest Container Ship Call The Cai Mep International Terminal received a call this week from CMA CGM's Laperouse, the largest container ship to call...
Maersk Line CEO Kolding Resigns, Skou Appointed Eivind Kolding, the architect of Maersk Line's ambitious effort to expand the reach and influence of the world's largest ocean...
ECT Sues Rotterdam Port for $1.2 Billion Europe Container Terminals, the port of Rotterdam's largest stevedore, is suing the Dutch port for $1.2 billion in compensation in...
Skou Pledges to Defend Maersk Dominance, Cut Costs Soren Skou, the newly appointed CEO of Maersk Line, said his key goals are defending the Danish ocean carrier's leading...
Diana Containerships Buys Two Panamax Ships Diana Containerships is buying two second-hand Panamax containerships from a KG partnership under an agreement it signed with Reederei Santa...
Grand Alliance Upgrades Joint Trans-Atlantic Service The Grand Alliance plans to increase the size of the vessels it deploys on the joint trans-Atlantic service it operates...
Maersk's Skou Has Led Expansion, Consolidation Soren Skou, newly appointed CEO of Maersk Line, is no stranger to growth and consolidation in shipping. As...
Japanese Ship Orders Surge 47.4 Percent Japanese export ship orders grew for the second straight month in November on a year-over-year basis, rising 47.4 percent to...
Seaspan's Porter on Shipping Line Advantages, Overcapacity Strategies (Video) Graham Porter, managing director for Seaspan, discusses how he feels shipping lines have the advantage of buying bigger and better...
Indian Port Container Traffic Expands 4 Percent Container traffic through major ports in India grew about 4 percent year-over-year in the first eight months of fiscal 2011-12,...
Designing Shipping's New Structure? You won't find Gerry Wang lamenting the financial roller-coaster ocean container lines and their shipping customers have ridden in recent...
U.S. Xpress Founder, Patrick Quinn, Dies Patrick E. Quinn, a former attorney who built a billion-dollar trucking enterprise with partner Max Fuller and helped develop and...
You Get What You Pay For Pay is a major factor in driver turnover, but not the only one. Detention at shipper docks was cited several...
Calculating Driver Turnover If a truckload carrier has 100 drivers and a 90 percent annual turnover rate, does that mean only 10 of...
Turning Over In Their Seats Need proof the economy is on the mend? The driver turnover rate at large truckload carriers hit 89 percent in...
Pay Now, or Pay More Later Although leading indicators point to a continuing but slow U.S. economic recovery, the U.S. stock market has been roiled by...
Occupied by the Ports If the intent of the Occupy movement was simply to attract attention by attempting to shut down West Coast ports...
Daggett's Diagnosis If you want to get a rise out of International Longshoremen's Association President Harold Daggett, ask him about the Waterfront...
Diversity of Opinion The Waterfront Commission of New York Harbor and the port industry it oversees have had a rocky relationship since Marlon...
A Duty Worth Dumping? After nearly 100 years, it's time to change the system the U.S. government uses to collect anti-dumping duties. The process,...
Shipping Faces a Taxing Climate The cloud of a carbon tax eased away from the global shipping industry at the conclusion of U.N. talks on...
Heavy Losses, Light Worries Despite the heavy losses container lines are seeing in 2011, they are in much better shape than they were in...
Aramex acquires its South African partner Dubai-based Aramex, a provider of global logistics and freight distribution services is strengthening its position in South Africa by acquiring its partner of more ...
Violent twist to Egypt's Arab Spring The Arab Spring uprising which was kick-started just over a year ago in Tunisia, when a 26-year-old fruit seller set fire to himself outside government buildings ...
E-SMART to beta test mobile devices Loughborough (UK)-based International Terminal Solutions Ltd (ITS), which provides software and diagnostic software for the ports and shipping industry, is beta ...
Philippine island devastated by flash floods Flash floods, triggered by a tropical storm, left more than 650 people dead and thousands missing on the southern Philippine island of Mindanao at the weekend, ...
US ports receive intermodal boost with Government grant US port infrastructure has received a boost after the government allocated USD62 million in grants for this area - among the terminals to benefit are Long Beach, ...
New ceo for Maersk Line Soren Skou (in photo) has been appointed new ceo of Maersk's container shipping division, including Maersk Line, Safmarine, MCC and Seago Line, with effect from ...
Doha talks remain stalled Ministerial meetings of the World Trade Organisation (WTO) held in Geneva last week failed to resolve the stalled Doha Round of trade talks, while there were disagreements ...
Ireland's economy shrinks in Q3 The Republic of Ireland saw its economy contract by 1.9% in the third quarter of the year - versus Q3 10 - and compared to a growth of 1.4% in the previous quarter, ...
LA carries on up - but LB sees continued volume drop for November Both US West Coast Los Angeles (LA) and Long Beach (LB) container ports have again shown differing fortunes when it comes to their latest volumes for November - ...
Seabury: U.S. container trade more balanced Containerized cargo exports from the U.S. will continue to grow more quickly in the next four years than imports, bringing the nation's trade more into balance, said Mathijs Slangen, maritime advisor for the investment banking firm Seabury Group.
Maersk Daily expands in Europe The pending dissolution of Maersk Line's joint big-ship Asia-Europe service with partner CMA CGM has led Maersk to include three new ports in Northern Europe to its Daily Maersk product.
Neste Oil celebrates opening of renewable diesel refinery An annual production capacity of 800,000 metric tonnes of renewable diesel.
Fujairah prices weakening No MDO in Durban.
'Healthy demand' in Rotterdam Prices show little movement in European hubs.
'Fuel smugglers' blocked Officials say product was being transferred ship-to-ship in Indonesian waters, close to Singapore.
Bunker industry needs LNG code Code could be developed on a 'national level', says classification society official.
Maersk Line CEO to focus on fuel efficiencies 'Currently, the rates we achieve don't even cover the fuel consumption.'
Major LSFO purchase could be 'a hedge' Player says there could be 'higher premiums going forward'.
Bunker prices soften in key Asian ports Supplies of bunker fuel tighten in regional hubs.
Tight avails expected at Japanese ports Refineries starting to close orders for the year.
Tonnage overcapacity still the 'elephant in the room' Average confidence level in the shipping industry improves despite continued concerns.
'Green Bunkering' proposed for Swedish waters Calls for 'Green Bunkering' procedures in all Swedish ports.
Investigation underway on grounded ship off France Authorities working to contain a one kilometre oil slick and empty the remaining fuel on board the vessel.
Avails of IFO 380 cSt in Hong Kong 'extremely tight' Cargoes from oil majors 'fully booked' for term orders, players say.
Chemoil deploys trade and risk management solution Solution will replace 'multiple disparate systems and spreadsheets' at the company, according to a statement.
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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