Cosco Pacific doubles profit in FY2010 Cosco Pacific Ltd, Asia's third-largest container terminal operator, more than doubled profit last year as world trade rebounded from the global recession.
Takeover talk fuels Hyundai Merchant rise Hyundai Merchant Marine Co, the biggest unit of South Korea's Hyundai Group, jumped to the highest in six weeks in Seoul trading on renewed speculation that the company may become a takeover target.
LNG cargoes to be diverted to Japan Indonesia, the world's third-largest liquefied natural gas (LNG) exporter, may divert cargoes from BP plc's Tangguh plant in West Papua province to Japan, Energy and Natural Resources Minister Darwin Saleh said.
Evergreen Marine Corp posts third straight quarter of profit
Study foresees growing demand for low-cost HGVs The increasing use of cost-effective light, medium and heavy commercial vehicles in emerging markets and the continued recessionary pressures in the developed world will increase t...
France: road hauliers want even playing field A document containing proposals to modernise the road haulage industry has been submitted to the French government. The ideas were tabled by three working groups compr...
New train arrives in Belfast The northern Irish rail service provider Translink N I Railways has taken delivery of the first of a further 20 brand new trains. The traction, which arrived on schedule,...
Australia: building a faster, more reliable rail network Australia has reported that another major milestone in the most extensive upgrade to the nation's interstate rail network in almost a century has been reached. Work to straighten k...
Korean Air orders two new B747-8Fs The US aircraft manufacturer Boeing and Korean Air have announced an order for two new B747-8 freighters, worth USD 639 million at list prices. In December 2009, Korean Air be...
Air cargo parachute system "ParaLander" receives operational certification The ParaLander ram-air cargo parachute system, developed and produced by Cassidian, an EADS company headquartered in Munich (Germany), has been approved for operational deployment ...
Swissport International posts preliminary 5.2% revenue increase for 2010 The Zurich (Switzerland)-based company Swissport International, a leading provider of ground services to the aviation industry, generated total operating revenue last year of ...
World's most powerful heavylift vessel docks at rhb Rotterdam The MS "Lone", the world's most powerful heavylift vessel, recently arrived at rhb stevedoring & warehousing in Rotterdam. Rhb is the preferred stevedore of the S.A.L...
Grand Alliance offering direct Vietnam coverage for Asia-Europe service The Grand Alliance members Hapag-Lloyd (HL), Nippon Yusen Kaisha (NYK), and Orient Overseas Container Line (OOCL), are launching a direct call at Cai Mep (Vung Tau) deepwater port ...
NYK: free transport of aid supplies to survivors in Japan The Japanese shipping group NYK will offer free international transportation of relief supplies to the Tohoku and Kanto regions of Japan, where a massive earthquake hit on 1 March,...
Schindler joins Solar Impulse as main partner Schindler, a global elevator and escalator provider, has decided to support Solar Impulse, a zero fuel airplane that aims to fly around the world propelled by solar energy only. Sc...
Cargo plane crashes in Congo The Aviation Safety Network has reported that an Antonov 12 cargo plane was destroyed on 21 March when it crashed in the Mvoumvou residential area of Pointe-Noire (Congo). The airc...
Next Aslog congress to be staged in Lyon The French logistics association Aslog will stage this year's annual congress in Lyon on 6 and 7 December. The theme of this year's event is "What are the principles for futur...
Agility opened new office in Vietnam The global logistics service provider Agility recently opened a branch office in Vung Tau (Vietnam) and relocated its Hanoi office to a new, larger facility. Strategically located ...
Kuehne + Nagel acquires 75% of perishables logistics operator Cooltainer Following the acquisition of three South American airfreight forwarders specialised in perishables logistics in January, the Schindellegi (Switzerland)-based logistics and transpor...
Frontline charters back Front Eagle for $32,500 per day Fredriksen-led company exercises purchase option for VLCC then sells for $67m and hires back
CSAV sublets boxships as services are suspended Return of vessels to spot market has potential to weaken charter rates
Rates for larger dry bulk ships shake off Japan disaster Average time charter rates for all four major dry bulk vessels sizes have risen for the first time since the Japanese earthquake and tsunami rocked the market for larger capesize and panamax ships
Middle East to Asia LPG rates bust 2008 high The cost of delivering liquefied petroleum gas from the Middle East to Asia rose to a 30-month high today on increased production from Saudi Arabia and higher Asian demand after winter stock depletion
Japan yards avoid worst of tsunami Majority of shipyards able to sustain normal business activities
Box lines feel the strain as Japanese exports stall Shipments out of Japan could fall as much as 20% as factories struggle to resume production
Rate war begins as lines struggle to fill their vessels Lines quoting rates of $800-$850 per teu for Shanghai to the UK, plus bunker adjustment factor
Charter default insurance set to make return Insurer sees rise in charterer default insurance in last two quarters
Singapore in a spin over influx of foreign labour Fears over the impact of the rise in foreign workers' levy flare up ahead of impending elections
Base rate rises may prompt change in lender behaviour
Disaster could cost Japan $235bn, says World Bank
Shipowners battle to reduce exposure to soaring fuel costs The depressed markets are making it increasingly difficult for owners to recoup or limit the impact of higher bunker prices
Japan adds to carriers' woes Now the container industry has to contend with the disruption to supply chains as a result of Japan's catastrophic earthquake and tsunami
Box bellwether falters There is something ominously ahead of the market curve about Chile's container shipping line, CSAV
Ships told to stay clear of Libyan territorial waters No-sail zone demand comes as Nato set to launch naval patrol of country
Throughput surge boosts Rotterdam bottom line Port of Rotterdam Authority posts $217.5m full-year profit as 2010 throughputs soar 11%
The real hazards of modern navigation Navigators share the sea with all sorts of users and China, especially, needs to rethink how it regulates seaborne traffic
CUT tenancy fills the gap at APM Terminals' Pier 400
Job fears thaw icy labour relations After years of industrial strife, unions and employers are now working together to improve productivity at California's leading ports
Commerzbank to take over Deutsche Schiffsbank Move marks change in Commerzbank's ship financing strategy
UK tax change may hit non-dom shipowners Plans to impose remittance charge of £50,000 a year after 12 years in Britain
Turku shipyard secures heavy cargo vessel order Ship to be built ahead of existing LNG cruise ferry order
Tsakos orders 4,700 teu pair from Sungdong Vessels scheduled for delivery in the first half of 2013
Europe box imports set for healthy growth Global Port Tracker predicts exports to grow at slower pace than imports
DP World eyes asset sale opportunities Port operator has not ruled out further asset sales but has none planned at present
Box terminal capacity constraints set to return DP World boss Mohammed Sharaf issues warning as utilisation rates surpass 80%
CMA 2011: BIMCO attacks use of armed guards to combat piracy Statistics about effectiveness of private security use called into question
CMA 2011: Call for caution over Chinese loans Compass' Karatzas says longer-term intentions of banks not straightforward
Yemen crisis threatens LNG FRENCH oil major Total has warned it may have to declare force majeure on its Yemen LNG operations at Balhaf because of mounting violence, IHS World Markets Energy reported today
US adds to Libya sanctions SANCTIONS have been applied by Washington to 14 oil companies linked with Libya's National Oil
Bright outlook for LNG rates TIGHTER supply and demand will lead to higher short-term LNG freight rates, a MOL adviser told the Gastech conference in Amsterdam today
Luksic buys 10% of CSAV CHILE'S mining and banking group Luksic has acquired 10% of CSAV
India halves vehicle duty LUXURY car manufacturers will proceed with expansions in India after a decision to slash customs duty on pre-assembled parts and gearbox transmission assembly units
LNG test shows quick power payback TESTS OF a process to convert from Diesel-fueled generation of power to LNG fuel showed a payback of costs in just four months, the Gastech conference heard today
Ashika responsibility denied FIVE defendants facing more than 40 charges arising from the 2009 sinking of the Tongan ferry Princess Ashika have all denied responsibility
Capes hinge on miners CAPESIZE rates could hinge on miner ore price strategy in 2014-15, according to Navios senior VP Michael McClure
Humpuss put on watch list HUMPUSS Sea Transport has been placed on the Baltic Exchange's watch list of errant companies
Excess yard capacity looms SHIPBUILDING capacity already far exceeds demand, DVB Bank shipping head Dagfinn Lunde has warned the Connecticut Maritime Association conference
Upside scenario for tankers? AMID GLOOM on tanker rates, True North Chartering research director Jerry Lichtblau has outlined a blueprint for recovery
MOL plans $1.2Bn in bonds MOL HAS registered with Japan's finance ministry to issue 100Bn yen ($1.2Bn) in bonds over the next two years
UK, Dutch in anti-pirate moves THE UK government will spend £6M ($9.8M) on anti-piracy measures in the Indian Ocean
PT Berlian Laju calls a timeout INDONESIA'S PT Berlian Laju has delayed announcing its 2010 results in Singapore and Indonesia, where Asia's biggest chemical tanker operator is listed
Evergreen roars back TAIWANESE carrier Evergreen has reversed 2009 losses with net profits of T$15.2Bn ($513.5M) for 2010
DOT's Stimulus Payouts Reach $26.7 Billion The Department of Transportation is pushing more stimulus money out to states to reimburse them for completed infrastructure projects, with...
Q&A: Panama Canal Authority's Aleman on Expansion Project In this podcast, Senior Editor Peter T. Leach sits down with Alberto Aleman, administrator of the Panama Canal Authority, on...
OOCL Orders Six 13,000-TEU Vessels OOCL ordered six new ships Wednesday, each with capacities of 13,000 20-foot-equivalent units. The Hong Kong-based liner carrier said...
Cosco Pacific Mulls Trust Listing Cosco Pacific, the terminal-operating arm of China Cosco Holdings, said it may put some operations in a business trust following...
Charleston Container Volume Climbs 7 Percent Container throughput in the Port of Charleston climbed 7 percent in February over the same month last year, bringing the...
UASC Adds Libya Surcharge Middle East carrier United Arab Shipping Company announced a "war risk surcharge" on all cargo moving to and from ports...
Penske Logistics Names South America Director Penske Logistics named Paulo Sarti as Managing Director for South American operations. Based in S'o Paulo, Brazil, he is...
EPA Says US Radiation Poses No Health Concern Radiation levels reaching the U.S. from Japan's nuclear disaster remain 'hundreds of thousands to millions of times below levels...
Wilh. Wilhelmsen Gets First of New Ro-Ro Series The Wilh. Wilhelmsen group took delivery of the first of four new roll-on, roll-off vessels built in Japan. The carrier...
Port Tracker Forecasts Rising North Europe Trade Import volumes at six major North European ports are expected to have increased by 16 percent in January of this...
First Tanker Arrives at Port of Hachinohe A tanker arrived at the Port of Hachinohe in Aomori Prefecture, northeastern Japan, on Wednesday, carrying 380 tons of propane...
DP World 2010 Profit Jumps 35 Percent DP World, the global ports operator, boosted 2010 earnings 35 percent from a year ago driven by a rebound in...
Hapag-Lloyd IPO Delayed on Market Volatility The public listing of shares in German ocean carrier Hapag-Lloyd has been delayed due to market volatility. An initial...
CMA CGM Leaseback Deal Includes Repurchase Options Ship Finance International on Tuesday revealed details of its reported agreement to buy two container ships from CMA CGM and...
Container inspection, repair classes in Newark The Institute of International Container Lessors (IICL) will hold its next inspection and repair courses in Newark, N.J., in late April. The dry van course will be on April 27, while the chassis class will take place on April 28. Course registrati...
Algoma to build 5 Great Lakes ships Algoma Central Corp. will spend about $400 million to build five Equinox-class vessels for plying the Great Lakes. The new vessel type, which was developed by Algoma's designers in St. Catharines, Ontario, will be able to carry significantly more ...
Wallenborn provides Air Canada Europe feeder Air Canada Cargo has awarded a two-year contract to Wallenborn Group to provide road feeder services covering 40 airports in 14 European and Scandinavian countries. Specifically, the agreement covers road transport from Air Canada's major European ...
Japan air fuel supplies running low The International Air Transport Association said this week that fuel supplies are running low in Japanese airports. IATA said the twin disasters that struck northern Japan March 11 have left airports with less than 10 days worth of supply, leading ...
Rotations on revised Asia/Americas services Rotation details have emerged about a joint service from CSAV, China Shipping, CMA CGM and Libra linking Asia and the Americas. American Shipperreported in Januarythat the lines would effectively merge their ANDEX (CSAV and Libra) and ACSA (China S...
CSAV drops Asia/U.S. East Coast loop Chilean liner carrier CSAV is dropping a service linking Asia and the U.S. East Coast, according to a report this week by maritime news serviceAlphalinerand confirmed by American Shipper affiliate ComPair Data. As of March 28, the line will drop i...
MISC drops Far East/India loop An MISC service between, the Far East, Southeast Asia and India has been suspended, American Shipper affiliate ComPair Data said. The Halal Express had a rotation of Shanghai, Xiamen, Singapore, Nhava Sheva, Mundra, Port Klang, Singapore and Shangh...
Radiation worries FDA halts some food shipments from Japan The U.S. Food and Drug Administration will stop all imports of milk, vegetable and fruit products from the Japanese prefectures of Fukushima, Ibaraki, Tochigi and Gunma that face potential radiation contamin...
Meriaura orders multipurpose deck cargo vessel Gaiamare Ltd in the Meriaura group of companies and STX Finland Oy have signed a contract for the construction of a versatile multipurpose deck cargo vessel at the Turku shipyard
Finnlines vessels again i blockade The Finnish Transport Workers' Union AKT has again declared an illegal blockade of Finnlines' vessels in Finnish ports. The blockade started on March 23, 2011 at 6.00 and will
Nordane tug left for Canada on a heavylifter The Nordane tug Stevns Icecap, which was sold to the Canadian mining company Rio Tinto Alcan in January, is now on its way to Canada on the Dutch heavylift carrier
Norden secures coal transport contract The Danish shipping company Norden has secured a five-year contract with the Norwegian state-owned mining company Store Norske Spitsbergen Grubekompani AS for the transport of coal from Svalbard
Wilh. Wilhelmsen takes delivery of Mark V ship Norwegian Wilh. Wilhelmsen has taken delivery of the roro carrier T'nsberg from Mitsubishi Heavy Industries in Nagasaki, Japan. This is the first Mark V ship in a series of four
Havila signs Total deal The Norwegian offshore operator Havila Shipping has secured a contract with Total E&P Norge AS for the anchor handler Havila Jupiter. The contract, valued at NOK 25 million, is
Andatee to announce 2010 financial results The company will discuss Q4, and year end results, in a conference call on March 31.
Food versus fuel debate reignited Rising oil prices raises concerns over food production being squeezed, however experts warn of the steep costs to blaming biofuels.
Prices rise in Fujairah Avails reported as tight in Cape Town.
Rotterdam and Hamburg markets firm In Rotterdam, some some suppliers reported to be fully booked this week.
New ro-ro vessel will see fuel savings of up to 20% Wilh. Wilhelmsen vessel has series of energy savings features.
Crude volatile as Japanese speculation raises concern Futures dropped as Japan weighed a postwar-style reconstruction agency to oversee repairs.
Confidence levels drop among shipping industry players Fears focus on surplus tonnage and unrest in North Africa and Middle East.
'Surge' in fuel imports looks less likely Japan to release more material from its oil reserves.
Cargo volumes on St. Lawrence Seaway 'to rise' Seaway officials praise investment in fuel-efficient fleets.
More Beluga companies file for bankruptcy Management boards advised to petition for insolvency proceedings at a German district court.
Asian bunker prices up mid-week Generally 'low' demand at Asia's bunkering hubs, according to traders.
Bunker supplier buys first 380 cSt parcel from Essar Oil At lower premiums due to heavy inflows of Western arbitrage cargoes from second half of March to first half of April.
Tech firm updates emissions monitoring system New design uses less cable, thus reducing power consumption, time and money for installation, says Martek.
'Risks' in acting too early to meet future 0.50% sulphur limit Refiners should adopt 'wait-and-see' approach, says US consultant.
MGO avails 'may tighten' in Busan Local traders believe South Korean refiners are exporting more MGO cargoes to Japan.
Environmental regulations are 'game changers' Environmental agenda is shipping's 'biggest challenge,'says President of Teekay.
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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