DP World's cargo volume up 11% DP World, the Dubai port operator, said on Tuesday that cargo volumes at its docks rose 11 per cent in the first half of the year as trade picked up at home and in other emerging economies.
Oil tanker glut shrinks as rental income falls A glut of oil tankers competing to carry two million barrel cargoes of Middle East crude shrank in the past week.
India allocates US$3.8b for port expansion India is on track to award 23 contracts for port expansion worth US$3.8 billion this fiscal year, as Asia's third-largest economy turns the corner on funding a sector crucial to its growth prospects, a top bureaucrat said on Tuesday.
UPS launches express flights to fast-growing Chengdu UPS yesterday announced the launch of new flights into Chengdu, China, further expanding the company's connections between Asia, Europe and the United States. The "around-the-...
Australian Linfox orders 100 Volvo trucks Linfox, one of Asia-Pacific's leading logistics operators, has chosen Volvo Trucks as the supplier of 100 prime movers. The order consists of Volvo FM 11, Volvo FM 13 and Volvo FH ...
Road network for modular road trains expanded in Denmark Modular road trains can now drive to Hundested Havn and Skjern Transportcenter in Denmark. Furthermore, a number of companies in Hobro, Horsens, Ikast, Odense and Sakskøbing have a...
Eurotunnel buys five class 92 locos Groupe Eurotunnel has bought 55 more SNCF class 92 locomotives, bringing its fleet to 16. The class 92 is British built and is the only railfreight locomotive authorised for use in...
SBS appoints Gary Hubbard as group business development director Gary Hubbard has been appointed as the new group business development director of SBS Worldwide, which provides global forwarding and supply chain solutions worldwide. Hubbard has ...
MTA appointed exclusive Vanguard Logistics agent in Poland Vanguard Logistics Services announced that Maritime Transport & Agencies (MTA) was recently appointed the exclusive Vanguard agent in Poland. The move followed internal decisio...
Kerry Logistics expanding in the UK Kerry Logistics, a leading provider of freight and logistics services, has acquired two freight forwarding companies in the UK, namely Manchester-based Bergen Freight Forwarding Li...
GE selected to power new Iberia A330 aircraft International Airlines Group (IAG) has selected GE CF6-80E1 engines to power Iberia's firm order for eight new Airbus A330 aircraft and up to eight A330 aircraft options. The engin...
Evergreen Line launching KCS service The Taiwan-based container line Evergreen launched a new Kaohsiung-Cebu feeder service (KCS) in late July. Evergreen Line will deploy one 950 teu ship with a port rotatio...
DFDS and Louis Dreyfus Armateurs bid for SeaFrance assets The Danish ferry and freight shipping company DFDS has teamed up with France's Louis Dreyfus Armateurs to bid for some assets of the failed English Channel ferry operator SeaFrance...
Rina tackles nickel ore bulker losses The Genoa-based classification society Rina has established rigorous design standards for the modification or newbuilding of dry bulk cargo carriers, in order to enable them to saf...
Aramex reports stable growth in Q2/2011 Express delivery and logistics company Aramex, based in Amman (Jordan), has reported a healthy increase in its second quarter 2011 revenues, despite continuing insta...
Panamax market braced for 'horrendous' August Charter rates set to continue sliding as northern hemisphere summer kicks in
Pre-Ramadan VLCC earnings boost looks unlikely Brokers predict further rate stagnation and low returns ahead of the Muslim holy month
Box lines gear up for next round of rate increases Hapag-Lloyd is set to impose a rise of $200 per teu for boxes shipped from East Asia, while MSC has announced a general rate increase of $250 per teu
Vale trading licence not top priority in Brazil trade talks with China Trade minister says bilateral agreements for iPad and plane manufacturers come first
Prophecies of doom are normal in shipping We overstate gloom and get overexcited when things look up, but it's difficult not to be optimistic right now, says Maersk Broker chief
Maersk Broker's 'quiet chaps' are silently on the march Low-profile broking house is expanding into Greece, China, South America and Africa
Navios Maritime sounds positive note as second-quarter profits rise Revenues up 375 in second quarter
Exclusive: Saadé signals CMA CGM's return to acquisition trail as finances recover Some assets will be sold to help pay for new investments, with China tapped for newbuilding finance and charters
A lesson from history for China's policy makers The prospect of a serious slowdown will be enough to give many the jitters, but is the Chinese economy just going nowhere fast?
Slowing volume growth shakes SITC investors Global slowdown in container trades puts pressure on intra-Asia lines
Cosco linked to arrears on dry bulk charters George Economou and Navios Partners among owners not paid in recent weeks
The euro ' cause of crisis or cure? It was inevitable one currency would benefit strong member states at expense of weakest
Time for euro get-out clause Troubled members like Greece could emulate corporate bankruptcies and restructure debt
CAI International second quarter revenues leap 68% Box lessor says improved income is primarily down to boosting the number of containers it owns
Tirrenia sold to MSC, Grimaldi, Moby consortium Shipowners take stakes in ferry operator
Dry bulk sector looks set for wave of consolidation Weak spot earnings will mean that some companies are vulnerable to takeover, says Deutsche Bank Securities
DP World's Cochin transhipment plans stalled by cabotage law Group's PPP facility cannot operate until expected government waiver materialises
KG funds' investment poised to slip further Only seven funds were approved for sale in the second quarter of this year, four fewer than the same quarter last year
Evergreen launches new intra-Asia service Uni-Chart will rotate Kaohsiung-Cebu-Kaohsiung calls in addition to Manila loop
Opportunities and threats Do not mistake political prevarication for uncertainty when it come to costly carbon regulations
Cosco likely to benefit from flood of demand for Keppel FELS jack-up rigs Cosco Shipyard set to win more offshore business as Keppel struggles to find slots
ThyssenKrupp to expand Rotterdam capacity Coking coal volumes to increase by one third
Family firepower In shipping, a family's passion and unswerving dedication to their business can make the difference between success and failure
Global Ports to step up efficiency at home rather than expand overseas Chairman Mishin says growing beyond Russia and Finland is long-term prospect, but 'complex question' of domestic terminals' performance comes first
Weak charter rates send Genco profits tumbling Number of ships in fleet rises as bottom line shrinks
Baltic Trading makes loss for second consecutive quarter Weak spot rates skew figures
Offshore 'safe haven' seen BONDS offered by offshore companies have become "more liquid" than those from shipping groups, a finance conference heard today
Dry pair beat forecasts BOTH GENCO and sister Baltic Trading have topped analyst forecasts but also reported quarterly drops versus last year
Frangou sees supply relief NAVIOS Partners boss Angeliki Frangou commented today on a positive supply trend as her company reported solid quarterly earnings
Lamu port construction will start KENYA's plans to build a port on Lamu Island off its northeastern coast are gathering pace, with President Mwai Kibaki calling on ministers to speed things up, IHS Global Insight reported today
Saudis raise tanker cargoes to India SAUDI Arabia has agreed to ship 3M extra barrels of crude in August to India to make up for cuts in oil from Iran, IHS World Markets Energy reported today
Coal port delays up 32.6% DELAYS for bulkers at major iron ore ports have decreased by 10.8% over the past week, but at major coal ports delays have risen by 32.6%, a broker told Fairplay today
China yards push offshore CHINESE yards are expected to move aggressively into the offshore sector, which is being boosted by high crude prices and rising oil demand, a DnB NOR Markets analyst said today
Rickmers ramps up in India GERMANY'S Rickmers-Linie is raising its stakes in India by upgrading its Europe/Subcontinent service to sailings every three weeks in 4Q
Tight LNG supply expected A MISMATCH between the number of LNG regasification and liquefaction facilities worldwide means that supply will be tight, at least in this decade, energy analyst Tony Regan said today
Taipower awards 13 Panamaxes TAIWAN'S power generator Taipower has awarded 13 Panamaxes in its latest tender for coal, IHS McCloskey reported today
OceanFreight shares skyrocket SHARES of NASDAQ-listed OceanFreight shot up 79% today as investors reacted to the surprise takeover by DryShips
Hub Group Profit Rises 49 Percent Intermodal service provider Hub Group's second quarter profit rose 49 percent year-over-year to $14.4 million, powered by a 12 percent...
Locke Confirmed as China Envoy The U.S. Senate confirmed Commerce Secretary Gary Locke to be ambassador to China, where he will replace Jon Huntsman as...
Trucker Saia Increases Profit 41 Percent Multiregional less-than-truckload carrier Saia increased its year-over-year profit 41 percent to $8.3 million in the second quarter, as its revenue...
Higher Fuel Costs Cut into Covenant Profit Higher costs and less efficient use of its trucks drove Covenant Transportation Group's profit down 42.7 percent year-over-year in the...
VDOT's Connaughton Promotes Shipper Incentives The Commonwealth of Virginia is offering shippers a tax credit for moving containers off the highways to the marine highway...
FAA Work Stoppages Increase Work stoppages are spreading among aviation construction projects across the country and construction workers are being sent home, due to...
Ryder System Revenue Tops $1.5 Billion Ryder System's net profit leaped 34.2 percent year-over-year to $40 million in the second quarter, as revenue climbed 18.1 percent...
Celadon Group Hauls Less Freight, Doubles Profit Truckload carrier Celadon Group more than doubled its profit in the second quarter despite a 1.2 percent drop in freight...
US Box Imports Slide 1.7 Percent U.S. containerized imports dropped by 1.7 percent in June from the same month last year after rising 5.5 percent in...
ILWU Chief Promises to Work With ILA The president of the West Coast longshore union pledged cooperation with the International Longshoremen's Association and criticized other unions he...
Railcar, Barge Demand Push Trinity's Profit Up Major railcar and barge builder Trinity Industries's soared 63 percent in the second quarter to $30 million, despite disruptions to...
Higher Truck Volume Propels C.H. Robinson Profit Third-party logistics and brokerage giant C.H. Robinson Worldwide increased its net profit 14.2 percent in the second quarter to $111...
Flood Woes Cut Canadian Pacific Profit 23 Percent Canadian Pacific Railway blamed severe flood disruptions for shrinking its second-quarter profit 23 percent to about $136 million (C$128 million),...
UPS Freight Increases Sales 19 Percent UPS Freight increased its revenue 19 percent to $660 million in the second quarter, improving its revenue per hundredweight and...
Ocean Charter Market Declines Containership charter rates are tumbling as ocean carriers re-asses their tonnage requirements amid slowing cargo growth and weakening freight rates....
New VPA Board Takes Office A new slate of eight directors was sworn in as new members of the board of the Virginia Port Authority...
Hapag-Lloyd Sets Rate Increases, Surcharges Hapag-Lloyd is implementing a series of general rate increases and peak-season surcharges on Asia-Europe-Mediterranean trade lanes, as part of a...
Long Beach, Los Angeles Announce Clean Air Awards The ports of Los Angeles and Long Beach have chosen seven companies as recipients of the 2011 Clean Air Action...
Guangzhou Port Container Traffic Up 10.3 Percent The volume of containers handled by at terminals operated by the Guangzhou Port Group increased by 10.3 percent year-over-year in...
Norfolk Southern Profit Leaps 42 Percent Second quarter profit powered ahead by 42 percent at Norfolk Southern Railway, continuing a pattern of strong earnings reports by...
Cummins Doubles Profit to $505 Million Strong growth in global truck markets drove engine sales up 53 percent to $2.9 billion in the second quarter at...
Capo Suggests Separate Banana, Short-Sea Pacts The International Longshoremen's Association and management should consider separate contracts for short-sea shipping and proprietary cargo such as bananas, management's...
USMX's Capo Warns of Competition for ILA Management officials urged the International Longshoremen's Association to work with employers to compete with West Coast ports and attract the...
CMRE ready to strike Konstantinos Konstantakopoulos-led containership owner has the firepower to acquire cheap assets following profitable Q2, CFO says.
Baltic's crystal ball CFO of New York-listed bulker owner sees scrapping, slippage and Asian economies as key catalysts in the market recovery.
CSCL fires profit warning Li Shaode-led boxship owner braces investors for a first half loss.
Panamax records pending Both scrapping and newbuilding arrivals about to set new annual benchmarks, broker says.
DB talks up M&A DryShips' $240m OceanFreight takeover could spark increased consolidation in the bulker market, analyst says.
Uninsured tanker aground Pollution row as elderly products carrier with no P&I cover grounds in storms off South Africa.
Navios Partners beats bets Angeliki Frangou-headed bulker owner tops analysts' forecasts in the second quarter.
Precious doubles profit Results from Khalid Hashim-led shipping company aided by newbuilding sales as profit is twice last year's figure.
Holst plots Asia push RS Platou exec says dry departures are no big deal as he takes charge of reshaping broker's activity in the east.
Bulk exit at Platou Dry-cargo chief Yahya Karahasan heads a list of six leaving RS Platou in the Lion City.
Davie rival bites back Groupe Maritime Verreault chief claims government backing of ailing yard makes competitors feel like they are "being eaten by piranhas".
Chemoil profit dwindles Profit falls in second quarter but bunker supplier stays in black as sales climb.
Offshore upset at DRYS? Drilling orientated investors unlikely to be impressed with use of Ocean Rig shares to part fund OceanFreight swoop, analyst says.
Evergreen services Evergreen joins MOL Asia/Africa loopEvergreen Line is joining an MOL loop between Southeast Asia and southeast Africa, according to its schedules. Evergreen launches Kaohsiung/Cebu feederEvergreen said it has launched a weekly shuttle service betwe...
Surface transport profits Intermodal buoys CN Q2 performanceCanadian National saw second quarter operating income increase 8 percent to $926 million, the railroad said in its quarterly financial filings Tuesday. Werner record huge Q2 profit growthTrucking company Werner Ent...
James A. Capo, United States Maritime Alliance-USMX
CTSA raise currency surcharge again Member lines of the Canada Transpacific Stabilization Agreement said Tuesday they will once again raise the currency adjustment surcharge they assess on shippers as of Sept. 1. The fee will rise to 10 percent after being set at 9 percent for August...
Evergreen joins MOL Asia/Africa loop Evergreen Line is joining an MOL loop between Southeast Asia and southeast Africa, according to its schedules. The line will join MOL's MZX service, which has a rotation of Singapore, Port Louis, Durban, Maputo and Singapore. With Evergreen joinin...
Evergreen launches Kaohsiung/Cebu feeder Evergreen said it has launched a weekly shuttle service between Kaohsiung, Taiwan, and Cebu in the Philippines. Evergreen will deploy a single 950-TEU ship on its KCS service, which departed from Kaohsiung on Tuesday. It will arrive in Cebu on Thur...
FAA issues 'stop work orders' The U.S. Federal Aviation Administration on Tuesday issued additional "stop work orders" to construction and technology contractors for critical modernization projects around the country after Congress failed to pass an FAA bill. FAA halted dozens...
UPS starts flights to Chengdu UPS will begin operating flights into Chengdu, China, further expanding its connections between Asia, Europe and the United States. The "around-the-world" flight through Chengdu will start at UPS's European hub in Cologne, Germany, and make a sto...
Intermodal buoys CN Q2 performance Canadian National saw second quarter operating income increase 8 percent to $926 million, the railroad said in its quarterly financial filings Tuesday. Revenue rose 8 percent to nearly $2.4 million while loadings increased 4 percent and revenue to...
Werner record huge Q2 profit growth Trucking company Werner Enterprises increased its second quarter net profit 32 percent, compared to the same period in 2010, according to a company financial filing last week. Werner's operating profits rose $46.8 million in the quarter, on revenu...
Rotterdam market softens slightly Other European ports steady or firmer mid-week.
Moderate mid-week price moves in major ports Fujairah steady after recent gains caused by tight avails.
Bunker deal signed with SK Shipping Ghana Oil Company says MGO contract will help it maintain 'market leadership'.
Ferry operator given 'unreserved apology' over pollution allegation New Zealand's National Institute of Water and Atmospheric Research says charge was made without proper research.
Asian bunker prices firming mid-week Demand mixed in major Asian bunker ports on Wednesday.
Titan to start oil storage operations at Quanzhou in August Will start operations at 340,000 m³ capacity facility after receiving 100,000 mt cargo.
California ARB approves changes to fuel regulations Regulations to be aligned with the requirements of the North American ECA.
Japanese shipyard clinches order for fuel-efficient bulkers Newbuild design to minimise wave resistance.
Chemoil Q2 profits plunge 69% But sales volumes rise due to contributions from recently acquired OceanConnect Marine.
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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