Tiger Group betting big on box ship sector Maritime investment firm Tiger Group could 'very easily' buy as many as 50 large containerships in the next two years, betting that the box ship industry will see the most growth in traditional freight markets, the firm's managing director said yesterday.
Ship supply weighs down Baltic index The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, turned negative on Tuesday with mounting vessel supply and freight derivatives contract selling knocking sentiment.
US to raise river tax for freight carriers Companies that transport goods on US inland waterways would pay more than twice as much as they do now to build and repair locks and dams under a proposal by President Barack Obama.
Investor Wilbur Ross expects shipping deals to pick up
USD 8 million to upgrade Mozambique railroad Mozambique railway company Portos e Caminhos de Ferro de Moçambique (CFM) is investing USD 8 million to repair the railway branch line between the industrial city of Matola to Sala...
Jebel Ali to increase capacity DP World is constructing a 400 m quay extension at its flagship port of Jebel Ali (UAE), thereby increasing capacity by 1 million teu to 15 million teu. The expansion, expected to ...
Lambert celebrates launch of China Cargo Airlines service Lambert celebrates launch of China Cargo Lambert St Louis international airport celebrated the inaugural China Cargo Airlines flight recently. The aircraft, which was carrying almo...
FAA imposes penalty on J.R. Simplot The US Federal Aviation Administration (FAA) has imposed a USD 207,200 civil penalty on the J.R. Simplot Company of Boise ID, for alleged violations of hazardous materials regulati...
GAC's new team to boost presence in Brazil Monica Chaves was appointed oil and gas logistics manager at GAC Brazil on 1 October. Chaves, who will be based in Rio de Janeiro, will drive logistics sales and product portfolios...
Baltic Sea hubs receive EU support for motorways of the sea The hubs in Gothenburg (Sweden), Aarhus (Denmark) and Tallinn (Estonia) are part of a project to create a smart network of ports which will receive EU funding. The project , which ...
Poland moves closer to German seaports Hamburger Hafen und Logistik (HHLA) and the rail operator Polzug Intermodal have opened a hub terminal in Poznań (Poland). The state-of-the-art facility - the first of its kin...
First container terminal for Colombo south harbour The Sri Lanka Port Authority (SLPA), China Merchant Holdings and Aitken Spence have won a USD 500 million contract for a new container terminal, the first in Colombo's south harbou...
UIA Cargo adds routes to India, Turkmenistan and Iran Ukraine's recovering economy is supporting a strong year of growth for the cargo division of Ukraine International Airlines (UIA). The outlook for the rest of 2011 will be boosted ...
Way clear for Daimler-Foton joint truck venture Beijing Foton Daimler Automotive Co has received its final approval from the Chinese commerce ministry for a joint venture between Daimler and Foton. This marks another important s...
EU approves VW increase in MAN holding The Volkswagen Group has reached a further important milestone on its way towards an integrated commercial vehicles group consisting of MAN, Scania and Volkswagen, having received ...
Dachser helps Bilfinger Berger to build bridges in Norway The global German logistics company Dachser is overseeing the logistics for two 100 m ferroconcrete pylons required by a suspension bridge across the Dalsfjord in Norway, which is ...
Damco to open new office in Munich Damco, the logistics services provider that belongs to the A.P. Møller-Mærsk Group, is positioning itself in southern Germany with a branch in Munich, where it aims to grow strongl...
Kerry Logistics wins Ikea contract in Thailand Transport service provider Kerry Logistics has won a contract with Ikea to provide a broad range of services in Thailand. Kerry Logistics will be responsible for a range of value-a...
Engine selection and fuel quality still a headache The quality of natural gas, and hence LNG, varies depending on its source
Gas-powered ships will need big infrastructure The second part of a two-part analysis of developing LNG as a marine fuel looks at the technical and regulatory issues involved
Sea of regulation surrounds use of gas as marine fuel From an IMO working group to cornerstone legislation such as Marpol and Solas, LNG comes with a host of rules and guidelines
WTO cuts forecast for growth in world trade volume Slowdown is mostly confined to developed economies, especially in Europe, highlighting need to solve sovereign debt crisis
Golar LNG spin-off moves to attract long-term contracts Master limited partnership's strategy of focusing on LNG carriers and FSRUs could produce 20% returns by end-2012
Time for co-ordinated response to piracy International Maritime Organization boss Efthimios Mitropoulos calls for co-ordinated response to piracy on World Maritime Day
Party pooper stuns positive Powerpoint presentation session A voice of clarity and reason spoke out during a session at the recent LNG Global Congress in London
Welcome introduction to some risky business Our senior insurance reporter has a baptism of fire at three-day annual conference in Paris
Alpha is latest Greek to pen debut LNG order Deal with STX for two capesize bulkers to be converted with option for further LNG carrier
APL charter for post-panamax quartet fires up market Rumours circulate among brokers of $36,000 per day rates for 8,400 teu vessels
ConocoPhillips is latest US oil major to idle refining capacity News comes as a blow to Atlantic suezmax market demand after Sunoco announced similar plans earlier this month
Newlead wins $4m awards in charter payment spat with Nobu Su Greek owner is 'reasonably confident' of more arbitration victories over $8.6m 'outstanding'
Russia's Shtokman LNG project faces difficulties getting off the ground Sovcomflot reportedly says 20 LNG carriers at $4bn needed for exports from Barents Sea
Ocean Tankers fears mount as Admiralty Marshall auctions vessel Telephone calls to Cyprus-based company's public number go unanswered
West Africa to Asia VLCC competition heats up on stagnant Middle East But owners could be suffering from worse returns than on the benchmark route
Horizon Lines recapitalisation delayed again Administrative delays blamed
Consolidation forecast for Asia-Europe box trades Smaller players likely to be squeezed out, says Macquarie
Russian conflict over LNG export expansion plans Investors torn on whether to develop facilities at Sakhalin or pursue new Vladivostock plant
HSH Nordbank shipping chief quits Robin Das to depart on October 7 without revealing future plans
Hansa Heavy ships arrested due to Beluga debt problems Four vessels targeted, but HHL says it was acting only as manager of the ships
Cosco hints at move for Piraeus port stake Greece readies sale of 23.1% stake as pressure mounts to raise funds for beleaguered economy
Transpacific rate slide continues Peak season end speeds up decline to $1,521 per loaded 40 ft container
U-Ming will consider newbuilds Company president sees a time of opportunity in the dry bulk market with newbuild orders, second hand vessel purchases and even acquisitions all on the table.
Singapore ready to fast-track IPOs to beat Hong Kong When equity markets reopen, Singapore is keen to steal a march on its bigger Asian rival
Expansion-minded Euroseas files $400m shelf registration Chairman Aristides Pittas sees containership outlook as still 'more positive' than dry bulk
Weeding out the weaklings Lenders are expected to be much tougher on struggling companies than they were three years ago
West of England P&I Club predicts drop in claims costs Move away from US business expected to result in lower claims costs
Cabotage and kings Indonesia's protectionism could result in quite a few logistical problems, such as vessel shortages
Jobs at German shipyards down 4% in a year Trade union IG Metall expects employment rates to stabilise in 2012
CSCL blames overcapacity for $95m loss But carrier will take delivery of three 14,100 teu ships by year end to 'protect earnings'
Ship finance difficult before 2012 SHIPOWNERS will find it "very difficult" to get ship finance loans before the end of the year, a top maritime lawyer told Fairplay today
Cosco mulls Piraeus stake COSCO is considering bidding for shares the Greek government is to offer in the port of Piraeus, according to a local report from Greece
Fatigue caused tanker collision US SAFETY regulators found pilot fatigue was the major factor in a collision between tanker and a barge tow, which caused a major oil spill near Port Arthur, Texas last year
Shippers urged to trim supply chains SHIPPERS must consider every link in their supply chains if they want to cut emissions, industry representatives were told in Brussels today
Horizon extends deadline EMBATTLED Horizon Lines has extended the deadline for its crucial bond exchange to deal with administrative issues
Sevan trading suspended SEVAN Marine today asked the Oslo Stock Exchange to suspend trading in its shares
EC awaits emission mitigation proposals EARLY carbon mitigation within the maritime industry "makes economic sense", but concrete proposals have yet to be put forward in Europe, a Brussels conference heard today
Eight new charters for TEN NYSE-listed Tsakos Energy Navigation has announced eight new time charters, although its fixed-versus-spot ratio remains largely the same
Felixstowe touts deepwater berths THE UK is now able to handle the next generation of container vessels after the port of Felixstowe officially opened its Felixstowe South development
Wan Hai reveals slot cost pressure TAIWANESE container carrier Wan Hai claimed today that it wasn't just larger vessels that forced it to exit the Asia-North Europe trade
VLCC earnings outlook reduced FIRST Securities in Oslo today reduced its rate forecast for VLCC tankers for both 2012 and 2013, the second Oslo-based investment bank to do so this week
Frontline faces years of losses FRONTLINE, the world's largest operator of VLCCs and Suezmaxes, could be heading for an aggregate net loss of $434M in 2011-13, according to a forecast from Oslo-based First Securities
Offshore conference in Ireland THE IRISH and British governments are to discuss wind energy potential at a conference in Dublin in November
Small owners "hard to get financed" THE outlook for small owners is bleak, according to bankers at Marine Money in Singapore today
Dutch government urged to pay for guards A DUTCH law firm has criticised recommendations that Netherlands-based shipowners should hire armed guards to defend their vessels from piracy
Horizon Pushes Back Refinancing Target Date Horizon Lines has delayed for one week its target date for completing a $655 million refinancing that would stave off...
Asia Airlines Pull Back Freight Capacity Cargo traffic for Asia-Pacific airlines fell 5.8 percent in August as carriers pulled back freight capacity even as the industry's...
Kuehne + Nagel Names Rooney to Trans-Pacific Post Kuehne + Nagel named former carrier executive William F. Rooney this week as its vice president of sea freight for...
Freight Rate, Surcharge Updates for Week of Sept. 26-30 Mediterranean Shipping Company will apply a general rate increase on the eastbound trade from North Europe to the...
STB Reviews Berkshire Buyout Impact on BNSF Rates Federal regulators are opening a public proceeding on whether the premium Berkshire Hathaway paid in 2010 to buy BNSF Railway...
Barone to Lead International Chamber Committee The International Chamber of Commerce tapped Anthony Barone, director of global logistics policy for Pfizer, as chairman of the group's...
DHL Launches Three Germany-Africa LCL Services DHL Global Forwarding launched less-than-containerload direct services from Germany to Ghana, Kenya and South Africa, as the Deutche Post DHL...
Private Equity Firms Gain Majority Stake in IAS Two private equity companies, Warburg Pincus and Vestar Capital Partners, acquired joint control of IAS, a technology company that specializes...
Economists Say Obama Plan Would Avert Recession President Obama's jobs plan, heavy on infrastructure investments to rebuild roads, bridges, ports and schools, would help avert a recession,...
WSC Keeps Widdows as Chairman The World Shipping Council will keep Ron Widdows as chairman of its board through September 2012 after he steps down...
Colombia's Avianca Orders Four A330 Freighters Colombia's Avianca will pay about $500 million for four A330-200 freighters, as the South American country's flagship airline readies itself...
C.H. Robinson Acquires Food Distributor C.H. Robinson Worldwide acquired Timco Worldwide, one of the largest melon sourcing and distribution companies in North America and Latin...
Kintetsu World Express Settles US Antitrust Case Kintetsu World Express, Japan's second-largest international forwarder, said on Wednesday it will pay a $10.5 million fine to settle a...
Loan Pushes Spanish Terminal Plan Forward The European Investment Bank approved an $82 million loan to finance the construction of a new container terminal in the...
Durable Goods Orders Slip 0.1 Percent Increased demand for machinery, computers and communication equipment was offset by reduced orders for autos and primary metals, causing overall...
Maersk Says New Mega Ships Won't Flood Market Maersk Line doesn't expect the 20 giant new container ships it has ordered to flood the market, nor does it...
Trans-Pacific Rate Benchmark Hits 2011 Low The Drewry Container Rate Benchmark for trans-Pacific spot pricing fell for the second straight week in the week ending Sept....
Maersk Adds China Port Call to Asia-Europe Service Maersk Line expanded its Asia-Europe Service 7 with a direct call at Qingdao, China, effective this month. The additional...
Felixstowe Opens Berths Able to Handle Mega Ships The port of Felixstowe inaugurated the first deep water berths in the U.K. able to handle the latest generation of...
DOT Finalizes Grant to Target Delaware Rail Snag The Department of Transportation's finalization of a grant this week for rail work near Wilmington, Del., sets the state for...
Alphaliner: Transpacific rate plunge coming The information service Alphaliner warned capacity withdrawals by transpacific container carriers have "come too late to counteract the plunge in freight rates" and predicted carriers will lose $300 million in the trade lane this year.It said rath...
C.H. Robinson buys melon supplier The logistics and produce company C.H. Robinson has acquired Timco Worldwide, one of the largest providers of melons in the Americas.Started in 1985 by Tim Colin, Timco markets conventional and organic melons under the "Melon Up!" and "Irish Eyes" ...
Shipowners: Piracy could lead to alternate routing The International Chamber of Shipping, which represents 80 percent of the world merchant fleet, warned that in the face of the inability to control Somali pirates "the shipping industry will be forced to look at all possible options, including alte...
Rand Logistics raises $16 million for vessels Rand Logistics said it has raised $16.1 million, net of underwriter's commission by selling 2.8 million shares of stock at $6 per share that it expects to use to partially fund the purchase of two dry bulk carriers, one of which is a self-unloade...
HP Enterprise names Cook VP transport HP Enterprise Services, an airline information system services provider, has named Brian Cook to vice president and general manager for travel and transportation services. Before joining HP, Cook was president of SITA Inc. U.S.A. and head of the Ai...
U.S. Senate passes Rwanda investment treaty The U.S. Senate on Monday approved a bilateral investment treaty with Rwanda by unanimous consent.The treaty establishes rules that protect the rights of U.S. investors and provide market access for future U.S. investment. They also support market...
Coffee industry seeks trade stability Members of the International Coffee Organization (ICO) are meeting in London this week to convene the first-ever Consultative Forum on Coffee Sector Finance.The forum was developed to address challenges faced by small and medium-sized farmers and t...
U.S. presses renewables exports to Mexico Obama administration and U.S. industry officials are in Mexico this week to promote exports of renewable energy technologies to that country. "Mexico offers tremendous potential for U.S. renewable energy and energy efficiency companies and the U.S....
DHL expands African ocean service DHL Global Forwarding has established three new less-than-containerload services between Bremen, Germany and Tema, Ghana; Cape Town, South Africa; and Mombasa, Kenya.Transit times for these direct shipments will be shortened by five to six days....
Euro debt concerns hit oil market 'We're likely to see more of a correction in oil prices as the slowdown in economic growth and demand does not bode well.'
Rotterdam little changed as other markets firm Prices relatively stable on Wednesday after the volatility seen in the past week.
Fujairah firm, Durban still dry Suez also seeing tight avails for some grades.
Italian bunker players merge New company will be known as Pisano Bunker Srl.
Chemoil extends its US supply operations Entering the Philadelphia bunker market 'with immediate effect'.
New broker and trader for KPI Bridge Oil Greg Araujo has joined the Miami office.
Fuel issues 'much more important' than before Bunker strategies 'changing the whole industry,' says head of Maersk Line's vessel management team.
Cargo-carrying sailing ship is 'ambassador for the future' Schooner is 'a practical and immediate answer to the intensive consumption of resources.'
Bunker prices mostly firming in Asia Slack demand at key Asian bunker hubs on Wednesday.
Fire at Shell plant off Singapore Operations at Pulau Bukom manufacturing site unaffected, says Shell spokesman.
New role for Chevron marine fuel manager Nina Zomaya joins Haymarket Risk Management as a Senior Consultant.
Bunkering resumes in the Philippines Philippine Coast Guard starts issuing clearance for barge movements on Wednesday morning.
Petrolimex buys low density fuel oil cargo at record premiums Scarce availability of low density, low viscosity cargoes in Asia.
NuStar expands bunker operations in Houston Offering ex-pipe 380 cSt grade at Galena Park in Houston from October 1, 2011 onwards.
Weather affects Hong Kong bunker deliveries Typhoon signal number 1 hoisted by Hong Kong Observatory on Wednesday morning.
Banks 'far more cautious' Only a small number of banks prepared to be involved in ship financing, says bank executive.
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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