China, Vietnam agree to resolve maritime dispute China and Vietnam pledged yesterday to resolve their maritime dispute through peaceful negotiations, a sign of easing tension over rival claims in the South China Sea which is believed to be rich in oil and gas.
Ore ship rents rise on busiest trade route A surge in hiring of vessels to haul iron ore has lifted transportation costs for the steelmaking ingredient to a six-month high on the commodity-shipping market's busiest trade route.
Bangladesh identifies new locations for capital airport The Bangladesh Government has selected three locations for the construction of the new USD 7.2billion Bangabandhu Sheikh Mujib International Airport which will provide the country'...
Palletways sets record in Spain and expands to Germany The Palletways Group is growing despite the difficult economic conditons. In the past six years the English palletised freight service provider has expanded from three to twelve co...
New way bill regulations in France France has changed the requirements for a national way bill. Now, the new way bill is no longer bound to a particular form but it has to include some basic information, such as add...
Work in the Fréjus Tunnel Due to safety and maintenance work in the Fréjus Tunnel, traffic will be rescheduled next Sunday 26 June 2011 between 18:00 and 22:00. Furthermore, the 2nd, 9th and 23rd July 2011 ...
Dagab is Climate Comet of the Year Axfood's logistics company Dagab has received the eco-award 'Climate Comet of the Year'. The award is given by Green Cargo to a company that has made major improvements to the clim...
Double-track-line-Construction China-Myanmar started The work on a 330 km double-track railway line from Kunming in China to Myanmar has started. More than 75% of the line will be in tunnel or cutting given the mountainous terrain. 1...
CN to sell assets of IC RailMarine Terminal and enter into related 10-year coal transportation agreement North America's Railroad CN announced a definitive agreement to substantially sell all of the assets of IC RailMarine Terminal Company (ICRMT) to Raven Energy, LLC, an affiliate of...
Hitachi Transport System establishes an Australian subsidiary Hitachi Transport System, Ltd. (HTS) has established an Australian subsidiary, whose name is Hitachi Transport System (Australia) Pty. Ltd.. The Australian HTS Corporation was foun...
Gudrun Winner-Athens confirmed as chairwoman for Kombiverkehr The limited partners of the German Kombiverkehr KG have elected a new supervisory board. During which Gudrun Winner-Athens was confirmed as chairwoman. Helmut Eder of LKW Walter (A...
Rhenus-Group acquires deep-sea terminal in Rotterdam The Rhenus Port Logistics further enhance their involvement in Rotterdam: At Europe's biggest seaport, the logistics provider took over effective 1 Juni a 200,000 sqm deep-sea term...
Stena Line equips first ferry with wind turbine As the world's first shipping line, the Swedish Stena Line equips a ferry with 2 vertical wind turbines fixed to the bow of the vessel. The Stena Jutlandica which is used on the ro...
ICTSI Davao doubles reefer capacity Davao Integrated Port Services & Stevedoring Corp. (DIPSSCOR), port services provider in Sasa Wharf in the Port of Davao in southern Philippines and subsidiary of International...
Logwin assumes overnight transports for Still in Austria The worldwide acting logistics provider Logwin, based in Grevenmacher (Luxemburg) has acquired Still Gesellschaft m.b.H. in Austria as a new customer. Since March 2011 the manufac...
Roland Vimo heads new LH Cargo Charter office in Miami Lufthansa Cargo Charter Agency GmbH has opened an office in Miami. It will function as the basis for customer liaison and the development of the Latin American market. The Miami of...
Oman Air Cargo offers RFS on European roads with Jan de Rijk After the recent launch of an appropriate service in their home country, (see ITJ Daily dated 31 May) Oman Air Cargo with Jan de Rijk Logistics is using a freight feeder service fo...
Aircharter: Richard Thompson moves to New York Air Charter Service's New York office welcomes Richard Thompson as its new Cargo Sales Director, replacing Stuart Smith who has transferred to the company's Paris operation. Thomps...
Saudi Airlines Cargo increases the freighter fleet Saudi Airlines Cargo is expanding its freighter fleet by 3 additional B747's to increase frequencies on the scheduled services and create more capacity for the charter market. The ...
Weak suezmax spot market pushes earnings below aframaxes But brokers believe a floor has been found on the benchmark West Africa to US route, preventing further falls
Australian capesizes break through the $8 per tonne barrier Prices hit three-month highs for iron ore destined for China as chartering activity picks up in Pacific
Korea Line charters out two VLCCs for five years to AET Annual rates of $27,000-$34,000 per day will not be enough to hit breakeven though, brokers say
DryShips takes plunge with seventh Samsung drillship newbuilding Option exercised against background of strengthening ultra-deepwater market
Iran sanctions: who stands to lose out Port suppliers also hit, with complications developing if contract included maintenance
Maersk Line poised to axe Bandar Abbas services Top carriers consider action after US targets Iranian ports operator Tidewater Middle East over alleged link with Revolutionary Guards
IRISL poised to sue Brussels for sanctions damages Iranian box line says the EU has not proved it has engaged in outlawed trade
Rise in new lower-rated tonnage is potential problem for P&I Clubs Standard warns erosion of premium base would mean future claims could not be met
Transpacific shippers renege on contracts as rates soften Ocean carriers are now the complaining as customers fail to meet minimum quantity commitments
Hamburg joins its rivals in offering green ship discounts Port follows Antwerp and Rotterdam in reducing fees by up to 10% for vessels that fulfil ecological standards
Maersk to use 'fines' to cut container no-shows and missed sailings Pilot scheme sees huge impact on operating costs as downfalls drop from 40% to 4%
Rise in shipmanagers recruited for arrest work Graig Ship Management providing more services to banks from a debt perspective
Newhaven outlines growth masterplan UK port to target offshore windfarm logistics and develop an existing ferry link
Ports could be influential in reducing greenhouse gas One of the least polluting links in the maritime supply chain could still encourage others to cut emissions
US business logistics costs up 10% Maritime costs up 14%, with overcapacity set to be a problem for 'several years'
Rotterdam sets out its stall for 20 years of growth Rise in container volumes means greater need for better links to the hinterland and to inland terminals
Socking it to Iran The US sanctions against Tidewater Middle East could hurt friends as well as enemies
Lest we forget our seafarers If the Day of the Seafarer is ever going to be more than a nine-day wonder, it is up to the industry to put its shoulders behind the IMO and fight rather harder for its employees
Downfall or triumph? Maersk's introduction of a "no-show" charge can be justified, but it remains unclear how shippers whose cargo is rolled over will be compensated
Global Ports Investments raises $534m in IPO Proceeds to fund capital investment programmes in Russian ports segment
UK coastguard must be cut despite parliamentary outcry Maritime and Coastguard Agency chief says that even if government proposals are amended, the status quo must go
Seanergy opts for one-for-15 reverse split Restis-backed dry bulk owner reaches for maximum authorised ratio to combat sinking share price
Big egos will keep dry bulk sector small and fragmented Owners say consolidation will only occur if banks force struggling players to do so
GPI sells below target RUSSIA'S Global Ports International has sold shares in its London IPO this week below their price target, bank sources told Fairplay today
India defends Suez response THE INDIAN government told Fairplay today that there were "misunderstandings" surrounding its role in the rescue of seafarers on board the general cargo ship Suez
Capesizes sought for Richards Bay/China BROKERS told Fairplay today that there is emerging interest in hiring Capesizes to ship South African steam coal to China
Weser deepening moves closer DEEPENING of the Germany's river Weser for ultra large container ships has received backing from the state governments of Bremen and Lower Saxony
Kremlin holds reins on grain RUSSIA'S government has announced that it will impose a penalty duty on grain exports if domestic prices reach 6,500 rubles ($232) per tonne
Seafarers given $75 in 'danger pay' SEAFARERS have reported that they are being paid $75 in 'danger pay' to travel through areas at a high risk of piracy, Fairplay has been told
MCA revises cuts plan A REVISED plan for changes to the UK's coastguard will be submitted by the UK's Maritime & Coastguard Agency following criticisms from a parliamentary committee, Fairplay has been told
Clean products provide mixed bag RATES for long-range clean products shipments picked up this week on higher demand from Japan, but mid-range voyages from Singapore to East Asia suffered from oversupply
Public entries plotted MANY PRIVATE owners are hoping to tap public equity and debt markets, according to a new survey by Marine Money and ABN AMRO
Six win at SASI Awards Five organisations won trophies at last night's Safety at Sea International Awards, hosted by Fairplay's sister publication, Safety at Sea International
Penny stocks split TWO NASDAQ-listed companies with heavily depressed stocks have confirmed extremely high ratio reverse stock splits to bolster their share prices
LNG sentiment surges THIS WEEK'S Marine Money conference in New York has been dominated by extremely bullish views on the LNG sector amidst gloom on drybulk and crude tankers
Singapore seeks port workers SINGAPORE today launched a training scheme for up to 10,000 port workers
India makes play for global ports INDIA is planning to set up a company to invest in overseas ports and container terminals, similar to Dubai's DP World and Singapore's PSA, Fairplay was told today
Tanker shares drop on IEA move SHARES in leading listed tanker companies were mostly trading slightly lower in Europe this morning after sustaining heavy losses yesterday in New York
Horizon Wins Bank Loan Amendment Horizon Lines said its banks agreed to relax their financial covenants under the carrier's revolving credit facility, preserving the carrier's...
US, EU Agree on Supply Chain Mutual Recognition The U.S. and European Union plan to implement mutual recognition of their supply chain security programs by the end of...
Rail Automobile Shipments Reach Two-Month High Shipments of automobiles and other vehicles on North American railroads jumped to their highest point since mid-April in the week...
Energy Department Rescinds Crude Oil Transport Waiver The Department of Energy reversed its position within 24 hours on the use of Jones Act vessels for transportation of...
CARB Extends Clean-Fuel Zone The California Air Resources Board is extending the zone in which vessel operators in Southern California must burn low-sulfur fuel,...
Deal Clears Way for Major Chicago Rail Project A new agreement between Norfolk Southern Railway and the Illinois Department of Transportation will allow work to start on a...
Russia's Global Ports IPO Raises $534 Million Global Ports raised $534 million from an initial public offering in London valuing Russia's biggest container terminal operator at $2.35...
US Steel Imports Rose 5.6 Percent in May U.S. steel Imports increased by 5.6 percent in May from April, according to preliminary government figures. "The increase...
Surcharge, Freight Rate Updates for June 20-24 Freight costs on shipments from India to West Africa will go up substantially effective July 1 following a port congestion...
Carriers Implementing Fees for No-Show, Rolled Shipments Ocean carriers are moving toward space and volume guarantees in agreements with shippers that include fees on both shippers and...
Durable Goods Orders Rise 1.9 Percent New orders for U.S. manufactured goods rose 1.9 percent in May, buoyed by a jump in aircraft sales, and the...
Hub Group's CEO on Intermodal Outlook Hub CEO Yeager tells Journal of Commerce Associate Editor John Boyd that he expects this year's peak season to follow...
APL Fuel Surcharges to Reflect Slow-Steaming APL, in a strong move toward appeasing a primary concern among shippers, will introduce a new fuel surcharge formula on...
Industrial Real Estate Sector Bouncing Back The U.S. economy may have hit a soft patch, but the industrial real estate sector has rebounded strongly from the...
Trucking Group Urges Obama to Expand Offshore Drilling The American Trucking Associations hailed the release of oil from the Strategic Petroleum Reserve but urged the White House to...
Virginia's Intermodal Crossroads Front Royal, Va., is one of those little towns along the Shenandoah River known for its Civil War history, gorgeous...
Intermodal's Third Generation Intermodal infrastructure development in the United States is at a juncture that could lead to the development of a third...
Midwest's Centers of Attraction Activity in the industrial real estate sector is building after being in the doldrums for more than two years. ...
China's Labor China has known for some time that growth based on mass migration of farm workers to faraway cities on the...
Buying China If you're wondering where the inventory restocking went, you have to look at Wuhan, Chongqing or even Chengdu. That's...
Grool abandons Wallem Group Hong Kong-based shipmanager prepares to pursue 'new opportunities' with new recruit as top boss steps down.
Knightsbridge stacks the shelf Nasdaq-listed owner joins Golden Ocean in setting stage for $250m fundraising exercise.
Grandframe chops vintage cape Hong Kong shipowner poised to pocket $12m from demolition deal involving 1985-built bulker.
Blida crewman pleads for freedom Algerian seafarer calls on his government to do more to release Greek-managed bulker from pirates.
Mr Doom telling it like it is Tor Olav Troim risks the wrath of the supreme being, while Morten Arntzen takes a stand against bonus culture.
Polar Star attracts interest Buyers circling Antarctic cruiseship held in Spain after Karlsen Shipping went into receivership.
Norway glued to coast coverage Over half the country's population tune in to watch coastline beamed live over the internet from cruiseship camera.
Ports blacked, CMA CGM accused Port operator joins US designated blacklist as French line continues to protest innocence.
GPI seeks $500m bounty from IPO Russia's Global Ports Investments eyes over half a billion dollars from London listing.
Suez crew: "Tortured by drunks" Indian seafarers relive horror of 10 months at the mercy of sadistic Somali pirates on Egyptian cargoship.
Norwegians go cruise crazy Live footage from Hurtigruten's Nordnorge breaks TV ratings records.
RCL takes more from DnB Thai owner's Singapore operation arranges credit line worth up to $85m in second deal with Nordic lender.
Cochin strike called off Contract workers end costly 20-day walk-out at Indian yard as bosses strike deal.
George back at Samsung George Economou's OceanRig takes up $600m option on drillship at Samsung Heavy Industries.
Clarksons calls survival shots Stacking of ships and slow steaming on a large scale required for VLCC owners to ride out downturn, Clarksons says.
Wisdom claims a victim Man drowns while trying to get close to cargoship stranded off Mumbai in bid to take picture.
CMA-CGM ship in SF drama Norma, caught up in dispute with San Francisco pilots over two-man units and 50% surcharge, suffered engine failure, with tugs to the rescue.
Mosvold axe still hanging over AHTS DnB Nor says Otto Marine's court victory over Norwegian owner will not save a third anchor handler newbuilding from the chop.
Billung:'Headlines too negative' Golden Ocean boss Herman Billung says the dry-cargo downturn will not bite as hard as many are expecting.
D'Amico's tanker top-up The price is right, says the Italian operator as it swoops for another medium range product tanker.
India plans major port push DP World and PSA International will face some fresh competition in the shape of $550m start-up Indian Ports' Global, it is claimed.
Bad booze kills four seafarers Quartet of Russian seafarers from Azia Shipping vessel lose their lives after drinking local Indonesian brew.
Seanergy stock split set in motion Dale Ploughman-led Seanergy Maritime follows Top Ships in revealing reverse stock split.
GAO faults U.S. food aid sales program A 27-year-old federal program authorizing the sale of U.S. food aid commodities in developing countries to fund development has largely failed, according to ananalysis by a congressional watchdog agency . The Government Accountability Office found...
Diana adds fifth ship to fleet Diana Containerships, a containership owner and operator that charters vessels to liner companies, said it took delivery earlier this week of a Panamax container vessel, theMaersk Malacca.Built in 1990, it has 4,714 TEUs of capacity. The ship is ch...
Rickmers gets two Maersk-bound megaships German-based carrier Rickmers said Friday it will soon take delivery of two new 13,100-TEU containership to be chartered to Maersk Line. TheTauro Rickmers,delivered May 31, and theLibra Rickmers,to be delivered at the end of July, are the final ves...
APL unveils slow steaming bunker formula Container shipping line APL said Friday it will implement a fuel surcharge formula in the transpacific trade in July to account for the financial impact of slow steaming.The new formula results in a somewhat lower bunker surcharge, effective July ...
Obama Jones Act waiver attacked A group representing domestic shipping companies is attacking the Obama administration's decision to allow any tanker to carry oil released from the Strategic Petroleum Reserve (SPR). Energy Secretary Steven Chu on Thursday announced the United St...
Bunker prices show month of fluctuations The BWI tracked the WTI rise throughout early June and followed its decline from mid-June.
Day of the Seafarer - the bunker angle Bunkerworld would like to join the IMO to mark the Day of the Seafarer and say: Thank you, seafarers.
Bunker markets fall in the Americas Crude prices settled slightly higher on Friday.
MEPC 62 to address hull fouling Hopes are high that international measures to address invasive species will be adopted.
Transport companies' shares rebound on lower fuel costs Some analysts feel that the dip in crude could result in gains for aviation and shipping companies.
Shell signs carbon capture and storage agreement Project will store over one million tonnes of carbon dioxide per year.
Russian terminal operator raises $534 million in IPO This converts to new and existing shares valued at $15 per global depositary receipt (GDR).
C-Fuels America announces new hire Svetlana Piterova will be responsible for 'all post-fixing tasks.'
Fujairah prices drop by double digits Deliveries available up to and including July 8 in Cape Town.
Bunker markets weaken MGO prices in Rotterdam and Hamburg at their lowest levels in four months.
China to cut import duty on fuel oil Move could lead to an increase in demand for residual product.
Hamburg to offer 'clean-ship' discounts from start of July 'We are promoting the use of ever-cleaner ships," says port's Managing Director.
High bunker prices piling pressure on VLCC operators Slow steaming could help, but it would have to be employed on 'a large scale', says Clarksons' analyst.
Regulators to move against ships 'by-passing' low-sulphur zone Shipping Association fails to block extension of Californian 'clean fuel zone.'
Week ends with drop in bunker prices at key Asian ports Increased demand for bunker fuel on Friday.
Chinese player enters bunkering market at Tianjin port China Changjiang Bunker intends to start bunkering at Tianjin port from early July.
APL lowers fuel surcharge on slow steaming gains 'We have developed a more transparent approach,' says shipping line.
Maersk 'disappointed' with reaction to New Zealand low-sulphur switch Company has not seen any 'tangible action' apart from 'positive words,' says CEO of Maersk Lines Asia Pacific.
Sri Lankan ports investments to boost bunkering SLPA secures $2.5 billion in local and foreign investments to develop Colombo and Hambantota.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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