Dry bulk sector choppy but containers calm THE fates of the container and dry bulk shipping industries are set to differ widely over the next few years, according to industry people at the 4th Annual Shipping Finance Asia 2011 conference yesterday.
Maersk posts 2nd-highest annual profit A.P. Moeller-Maersk A/S, the owner of the largest container line, posted the second- highest annual profit in its 106-year history as growth returned to the market.
Thai bulk carrier firm to boost fleet size Precious Shipping, the Thai operator of bulk carriers, plans to increase its fleet from 21 vessels to as many as 70 within three years and to lower operating costs by using newer ships.
Maersk Tankers in red after writedowns Division posts $118m loss for 2010 as freight rates remain below breakeven in 2011
Supramax rates firm while Korea Lines tonnage tied up With around 70 of the 90 supramax vessels tied up in litigation associated with the Korea Lines receivership operating in the Pacific trading region, supply in the basin remains tight and rates will continue move up
Parlez-vous Eurospeak? Talking the talk in Brussels Lloyd's List's Brussels correspondent is wise to the European Commission's very particular vernacular and explains some of its far-reaching terminology here
BDI slumps as dearth of fresh cargoes hit panamax rates Baltic Dry Index fell 26 points today to 1,253
Productivity still driving force at APM Terminals Offering a fast, efficient service for customers is a key focus for Maersk's ports business
SCCT pushes plan for Cairo freight rail link APM Terminals remains committed to the Suez Canal Container Terminal
Still a worry for minnows Consolidation in the box sector may not involve some of the headline-grabbing deals of recent years, but the landscape could still look very different in a few years' time
Don't bank on it The news that HSH Nordbank is back in the ship finance market, looking to lend out around '1.5bn, ought to be taken as an encouraging sign
Korea Line tanker seized in Texas Judge issues Rule B writ of attachment against 2009-built, 51,332 dwt Blue Emerald
StealthGas beats forecasts with fourth quarter profit Higher demand for small and handysize gas carriers helps lift earnings
Container packing rules face major shake up Forwarders and shippers to ensure guidelines are complied with
More KG funds to restructure Box funds recovering but tanker and bulker funds running into trouble
Investor losses add to stiffer test for shipping IPOs Analysts expect 'net gain' in ranks of listed owners by end-2011
Patrick Container Ports throughput down 3% Revenues slip to $364.3m
London port volumes hit 48m tonnes Revival in liquid bulk and containers traffic helps lift port's 2010 throughput
Shipbuilding boom helps save China $20bn a year, says Gratsos Bankers and investors should have shown greater restraint in peak market periods
HSH Nordbank puts $2bn on the table for shipowners World's largest ship finance bank ready to grant fresh loans again
Maersk boss predicts further consolidation Box sector to undergo further rationalisation over long-term as weaker lines are marginalised
Tankers continue to load at Libyan ports Operators say situation normal despite reports to the contrary
Navios cautious despite profit boost Dry bulk owner and operator posts $57.5m net income for the fourth quarter
Transpacific box freight rates decline Rates hit by lunar new year holiday closures
Capital investments push Brightoil net income down Hong Kong-listed bunker specialist has grand ambitions as both a bunker supplier and a tanker owner
Spain knocks back plan to build new ferry port Decision over Tarifa port project a heavy blow to Algeciras
Sembcorp Marine profit soars 23% Reports net profit of $673m for 2010
Transatlantic cuts losses to $19m in 2010 Offshore and icebreaking operations see profit
Lyttleton port may reopen by Saturday Oil berth operations and limited box handling could resume in three to four days time
Capesize rates hit BDI THE BALTIC Dry Index dropped further today as Capesize rates plummeted 10.6% to $5,339 a day
StealthGas surprise spurs stock surge SHARES of NASDAQ-listed StealthGas rose after quarterly results came in much higher than expected
Riga seeks icebreaking aid THE LATVIAN port of Riga today asked the government to provide icebreaking assistance after 34 ships became trapped in ice
Big drop saps VLCC steam AFTER the steepest daily drop in VLCC rates since 4 January yesterday, bearish sentiment is gripping tanker markets today, with chartering activity slowing
KL dispute engulfs tanker pool TWO KOREA Line-owned tankers in the Overseas Shipholding Group-managed Clean Products International Pool have been targeted in suits by Turkish owner Densan Deniz
Spain cancels Tarifa port expansion scheme SPAIN today cancelled a €200M ($274M) port scheme for Tarifa, on its southern coast
US ferries citizens from Libya THE US has launched an operation to evacuate its citizens from Libya by ferry, as oil and gas operators suspend operations in the violence-torn country
Settlement buoys Star Bulk NASDAQ-listed Star Bulk has reported much higher profits for its latest quarter, primarily related to a cash settlement in a charter dispute
HSH Nordbank has returned to lending HAMBURG shipping bank HSH Nordbank has told Fairplay it is ready to grant fresh loans again after more than two years of internal restructuring
Concordia posts profits despite 4Q fall A STRONG base of long-term charters and a fall in finance costs helped Concordia Maritime return to profits last year, but results were weaker in the final quarter
Centrica, Qatar sign LNG deal CENTRICA, parent company of British Gas, said today it has signed a three-year contract worth '2Bn ($3.25Bn) with Qatargas to deliver 2.4M tonnes of LNG per year to the UK
Grounded ship refloated AN EIMSKIP-owned box ship was refloated early this morning, no longer in danger of sinking, the Norwegian Coastal Administration said
PIL chases South American growth SINGAPORE'S PIL has told Fairplay it is expanding its long-haul services to tap the emerging South American market
Price surge seen for Indonesian coal STRAITS Asia Resources of Singapore, which exports thermal coal from its Indonesian mines to Asian and European power stations, has predicted a rise this year in Indonesian thermal coal prices
Hutchison shareholders get preferences HUTCHISON Whampoa said today its shareholders are entitled to apply for 100 units in the proposed Hutchison Port Holdings Trust for every 1,000 shares they hold
RailAmerica Posts $17.9 Million 4Q Profit Short line operator RailAmerica had a fourth-quarter profit of $17.9 million, up from a $6.9 million loss in the final...
UPS Expands LCL Ocean Freight Throughout Asia UPS is expanding its Preferred LCL Ocean Freight Service to 10 additional Asian ports, thus taking on a bigger role...
Supreme Court Says CSX Can Challenge Ala. Tax In a 7-2 ruling that could affect how states levy taxes on inland transportation carriers, the U.S. Supreme Court said...
Calif. Bill Redefines Drayage Drivers as Employees Advocates of the unionization of harbor truck drivers opened a new line of attack with a bill in the California...
Q&A: Touring the Panama Canal Expansion Project, Part 2 In this podcast, Senior Editor Peter T. Leach talks with Managing Editor Dana L. Brundage on location from Panama City,...
Libyan Ports Closed by Violence All Libyan ports and terminals have been temporarily closed amid violence in the North African country, CMA CGM said on...
OOCL Joins CMA CGM's India-Europe Loop OOCL is joining CMA CGM's India-Pakistan-Europe service as of April 1. OOCL will contribute one of the eight ships...
Japan, Mexico Sign Revised Trade Agreement Japan and Mexico reached terms on which to revise their free trade agreement to further liberalize bilateral trade. After...
Japan Sees First Trade Deficit in 22 Months Japan posted its first trade deficit in 22 months in January as the cost of oil drove up imports. The...
CMA CGM Hikes India-Europe Rates French carrier CMA CGM will seek a general rate increase on the westbound trades from India to Europe, as part...
APM Terminals Boosts Profit 60 Percent in 2010 APM Terminals boosted earnings 60 percent in 2010 from the previous year as profit from the disposal of a stake...
Trans-Pacific Spot Index Drops 6 Percent Spot rates on a key trans-Pacific container route dipped 6 percent this week, their second consecutive weekly decline since the...
Asia Carriers Launch South American Loop Four Asian carriers plan to launch all-water bi-weekly service from Asia to the East Coast of South America, adding capacity...
A.P. Moller-Maersk Books Record $5 Billion Profit A.P. Moller-Maersk, owner of the world's biggest ocean container carrier reported a record $5 billion net profit in 2010 today,...
Agents seize KLC tanker Federal judge sends US Marshals to arrest embattled Asian operator's Blue Emerald following Rule B attachment complaint.
HSH dives in Ship finance heavyweight HSH Nordbank tosses $2bn on the table as it launches revamped lending quest.
Barge giants join forces American Commercial Lines and US tug and barge duo alert antitrust authorities about plan to build digital data sharing network.
Technip ties up Apache French subsea syndicate scores work for pipe-layer under $124m contract with Statoil.
Repsol grabs Maersk trio Three Maersk Supply anchor handlers, including two from the spot market, fixed up on $75,000 per day package, brokers say.
PE gets post-mortem Experts dissect scarcity of shipping deals as Hamburg finance session starts without private equity hordes.
Atlantska turns around loss Croatian bulker owner enjoyed profitable 2010 as revenue rose 12%.
DnB NOR seals LPG sale Nordic banking giant walks away with $3.1m following the sale of a gas-carrier snapped up at auction in Gibraltar.
Stealth trumps Street Harry Vafias-led shipowner beats estimates in the fourth quarter as boss flags upturn in the market.
Tankers not for sale Nils Andersen says Danish giant will not cash in tanker business after another year in the red as re-run of 'abnormal' 2009 container market dismissed.
Navios doubles up Soaring sales and disposal gains bag Angeliki Frangou-led owner twice as much but 2011 eyed with caution.
Wightlink loses claim UK ferry operator misses out after seeking '1.4m in double engine-failure case.
ITF targets sheep ship Union going to court in Australia to recover back-wages for crew on Jordanian-managed Bader III.
Havila lifts bank balance Oslo-listed owner aids cash position after completing sale of a new dive support vessel to a joint venture.
Greek tanker docks in Libya But this Minerva vessel is not loading oil ' it's evacuating Greek citizens.
Maersk stronger for now AP Moller-Maersk banks higher than forecast profit in 2010 but warns of a decline this year as spending heats up.
New India COO for DHL Supply Chain DHL said Wednesday that Vikas Anand has been appointed as chief operating officer for DHL Supply Chain India. Anand was the company's director of operations. He joined DHL Supply Chain as supply chain manager in the Middle East, based in Dubai, bef...
China expects 21% foreign trade growth in '11 China's Ministry of Commerce is projecting total foreign trade to grow 21.4 percent in 2011 to $3.6 trillion, according to a report fromChina Intelligence Online.Export volume is forecast by the ministry to rise 20 percent to $1.9 trillion, while i...
FAA proposes fine against small charter airline The Federal Aviation Administration on Feb. 17 levied a proposed civil penalty of $585,725 against Corporate Air, a small cargo airline based in Billings, Mont. The agency charged the airline with failing to conduct post-flight inspections on a Sho...
Hapag Lloyd switching PAX service to Hamburg Hapag-Lloyd said it will switch its German port of call for its Pacific Atlantic Express service from Bremerhaven to Hamburg on Aug. 1. The service operates 13 ships between North Europe and ports on both the East and West coasts of North America a...
Lines add Asia/East Coast South America loop Four Asian carriers will launch a second Asia/East Coast South America service at the end of March, one of the lines said Wednesday. "K" Line, NYK Line, PIL and Hyundai Merchant Marine will start the second string of their existing AESA service wit...
U.S. shipping group has new name The Maritime Cabotage Task Force has changed its name to theAmerican Maritime Partnership (AMP) . The trade association, which said it is the largest coalition of maritime interests in the United States, has been in operation since 1995. It says i...
Renewed call for action against pirates There were renewed calls for action against Somali piracy after Tuesday''s murder of four Americans aboard the yachtQuest."The callous murder of these four innocent people is appalling. Maybe it will help raise the level of awareness that today th...
Maersk Line posts record $2.8 billion '10 profit Maersk Line on Wednesday announced record operating profits of $2.8 billion, a massive $4.8 billion swing from the $2 billion the line lost in 2009. Perhaps crystallizing just how successful the Danish line, and market leader, was last year, it mad...
Mærsk logs USD 5 billion profit A.P Møller-Mærsk reports a USD 5 billion profit for 2010, the best result ever. "Even if markets improved strongly in 2010, container rates and volumes were only at par
African bunker supplier enters aviation fuel market Becomes Ghana's first indigenous oil marketing company to enter the field.
IFO prices fall in Fujairah South African IFO and distillate prices see double-digit gains.
Rotterdam market softens Hamburg fuel oil prices are at their highest levels since September 2008.
Gibraltar environmental group slams 'underhand' bunkering expansion plans Calls for Environmental Impact Assessment to be published, process making 'an absolute mockery' of public consultation exercise.
Brightoil to open trading offices in London, Geneva 'In the process' of setting up new offices to strengthen oil product trading.
Bunker levy versus emissions trading scheme Carbon Positive weighs up the arguments for which system would be best for reducing GHG emissions from shipping, and takes sides.
Mid-week bunker prices mixed at major ports Traders report sufficient supplies in Singapore mid-week.
Indian refiner to strengthen footing in the bunker industry BPCL embarks on strategy to support partner Matrix Marine Fuels for future growth.
Brightoil bunker sales volume doubled But slim margin from trading business hits it total net profit for the six month period.
Some Japanese suppliers expected to cut prices Local suppliers will 'aggressively sell' in order to clear stocks before the end of the month, traders say.
Prestige Marine to expand operations with new bunker tankers Orders two tankers, and in talks to take over an additional two from another shipyard, says supplier.
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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