Growth of oil tanker supply outstripping demand 3 to 1 The global oil tanker fleet will expand almost three times more quickly than demand this year, according to Clarkson Research Services Ltd, a unit of the world's largest shipbroker.
Supertanker returns turn negative again Returns from shipping Middle East crude oil to Asia, the world's busiest route for supertankers, turned negative for the first time in five sessions as a glut of available ships lingered.
Mitsui OSK to incur 7b yen charge: report Mitsui OSK Lines Ltd said it will incur a charge of about 7 billion yen (S$110 million) related to vessel operations overhauling, the Nikkei business daily reported.
Ansaldo STS wins Berlin-Rostock signalling systems contract A contract worth almost EUR 14 million was signed by Ansaldo STS Deutschland and Deutsche Bahn recently. The agreement is for the design, supply, installation and commissioning of ...
Indian Railways investing in rolling stock and network Indian Railways has announced plans to invest USD 18 billion in rolling stock, including 1,000 diesel locomotives, between 2012 and 2017. The railway enterprise also has plans to i...
RCL records heavy losses in Q2 Singapore-based RCL Regional Container Lines, which operates mainly in the intra-Asian trades, said that its second quarter net loss more than doubled over the same period in 2010,...
Evergreen Group chairman Chang Yung-Fa awarded Dutch honour Dr Chang Yung-Fa, chairman of the Evergreen Group, has been honoured by the Netherlands as a Commander in the Order of Orange-Nassau, in recognition of his contribution to the deve...
JAL adjusts schedules The JAL Group has announced some adjustments to its international and domestic flight schedules. The airline's schedules, as publicised in January, were analysed in the light of cu...
Averitt Express expanding in USA Averitt Express, a US freight transportation and supply chain management provider established in 1971, reported the recent expansion of its warehouse operations in Marietta GA, Gre...
Port of Salalah wins custom of CSAV The Chilean shipping line Compania Sud Americana de Vapores (CSAV) has added Oman's port of Salalah to its schedule of services between Asia and Europe. The 6,500 teu containership...
Safmarine enhances Europe-West Africa services Safmarine has reorganised a number of its shipping services to and from West Africa and introduced three new links (WAF11, WAF12, WAF13) as part of its revised West Africa service ...
New Simon Hegele logistics centre at Frankfurt airport The Karlsruhe-based German enterprise Simon Hegele is building a new logistics centre in Raunheim near Frankfurt airport, approximately 2 km from the heart of the international hub...
More trucks sold in South Africa South Africa's vehicle industry sold more trucks in the year to July, the country's national association of automobile manufacturers has reported. A total of 2,745 heavy commercial...
Continued cargo growth at Singapore Changi The Changi Airport Group (Singapore) Limited has announced its results for the financial year ended 31 March 2011 (2010/2011). The volume of airfreight handled between April 2010 a...
Ceva Logistics continues to work with Suzuki in UK SCM specialist Ceva Logistics has been awarded a three year EUR 8 million contract to manage Suzuki's nationwide distribution of aftermarket vehicle and marine parts. Ceva will con...
OAA signs training agreement with Olympic Air The Oxford Aviation Academy (OAA) has concluded a five-year training agreement with Greek carrier Olympic Air, a privately-owned airline that revived the historic Olympic name, for...
To order or not to order, that is the big box question Container carriers continue to invest in newbuildings despite economic risks
Trafigura-South Hook Gas deal means nothing, says broker Petrochemical trader to use spare import capacity but has 'no LNG cargoes to move'
The $500m gamble: Jensen urges VLCC owners to sell 50 ships for scrap As Frontline's balance sheet plunges into the red it suggests older double-hull vessels are removed from fleet to address overcapacity
Shippers challenge TCC compensation claims FMC should arbitrate, say the line's former customers
Paboukis resignation stokes Greek shipping policy dismay Deputy development minister quits after two months after failing to reinstate specialised ministry
HSH Nordbank ups the ante in Omega bankruptcy protection case Senior lender asks court to dismiss Chapter 11 case or convert it into Chapter 7 liquidation
China Cosco posts $431m loss as dry bulk division takes major hit Boxship unit also suffers as company mulls $2bn bond issue
China Cosco outlines plans for greater consolidation of dry bulk business Three dry bulk units to be merged into one in a bid to maximise revenues
HSH Nordbank to shrink loan book by $5.7bn European Commission agreement will see bank stop financing ro-ros and cruiseships
Capesize rates pause for breath after breakout Note of caution enters market after surge in rates but healthier period activity helping sentiment
Sinotrans reports steady first half Carrier bucks trend with dry bulk charter income helping it hold up profits in first half
MMHE buys Sime Darby shipyard for $134m Offshore engineering subsidiary of MISC expands its yard space by 31% as it positions for more Petronas contracts
Cosco to tap bond market for $2bn Tight credit availability in China means it needs to look to international market
Largest bulk carrier for northern sea route set to depart Murmansk Japan vessel carrying iron ore concentrate to China will make 'huge bunker cost savings'
Pamboukis quits over ministry GREECE'S shipping tsar, Harris Pamboukis, has stepped down amid reports of government discord
Bank sees E&P spending rising 14% this year KAY LIM, analyst for Norway's DnB NOR, said today offshore exploration and production spending would rise 14% year on year this year, 8% y/y in 2012 and 7% y/y in 2013
Subscriber notice THERE will be no news bulletins on 29 August because of the UK holiday weekend
China COSCO says ship disputes settled ZHANG Liang, president of China COSCO Holdings, reportedly said late today that the company had resolved lease disputes on 18 ships
China COSCO swings to losses of $432M CHINA COSCO Holdings today announced net losses of 2.8Bn yuan ($432M) for the first half, compared with net profits of 3.4Bn yuan a year earlier
NOL shuffle sparks warning CHINA Construction Bank's securities arm warned today that impending leadership changes at Singapore's NOL and weak freight levels would harm its stock performance
Sevan cites higher costs SEVAN Marine, the Oslo-listed owner of cylinder shape floaters, said today it will cost $170-190M to build the FPSO Sevan Voyageur, up from its $160-170M estimate
Tanker robbed off Singapore BUNKERING tanker Valiant was robbed off Singapore today, Asian piracy watchdog ReCAAP ISC reported
LR1s surge on demand for Japan's naphtha STRONGER naphtha demand in recovering Japanese refineries has propelled Long-Range 1 freight rates on the Middle East/Japan route to a three-month high, brokers told Fairplay today
Frontline sinks in second quarter FRONTLINE today reported losses for the second quarter that were worse than expected after turnover plummeted
China sets coal record CHINA imported 17.53M tonnes of coal in July, beating a previous record of 17.33M tonnes in December 2010, according to IHS McCloskey
FFAs spark Panamax period interest BROKERS told Fairplay today eroding Panamax FFA rates have prompted charterers to embrace bulker period charters
Inflation squeezing demand for crude RISING inflation in China and India, the two biggest emerging economies, could limit growth of crude demand, according to a new report
Aframax rates drop BROKERS told Fairplay today that Aframax freight levels for East Asia-bound Kozmino liftings have dropped on rising tonnage availability
HSH seeks ONE liquidation SENIOR lender HSH Nordbank has formally moved to dismiss the ONE Chapter 11 case or convert it to Chapter 7 liquidation
BNSF Reopening Key Missouri River Route Early BSNF Railway will reopen an important flooded out track segment across the Missouri River on Sept. 3, five days earlier...
Norfolk Shutting Port as East Braces for Irene Virginia's Port of Norfolk started shutting operations late Friday afternoon as the heavy rains and 105 mph winds of Hurricane...
DOT Names New Marine Highways Panel The Department of Transportation on Friday announced a new maritime advisory panel aimed at helping the Maritime Administration promote marine...
Customs Resumes ACE Testing Customs and Border Protection on Friday started advance testing of the ocean and rail cargo manifest systems in the Automated...
Florida County OKs FEC Intermodal Terminal The Broward County Board of County Commissioners on Aug. 23 unanimously approved a memorandum of understanding with the Florida East...
US Airlines Pulling Domestic Capacity U.S. passenger airlines expect to reduce their domestic capacity 0.5 percent in the fourth quarter, likely widening the gap in...
Consumer Confidence Sinks to 33-Month Low U.S. consumer sentiment hit its lowest level since November 2008, a decline aggravated by political battles in Washington, according to...
Court Blocks Anti-Carp Effort to Close Waterway A federal appeals court, siding with shippers and carriers, blocked the state of Michigan and four other Great Lake states'...
Cosco Loses $432 Million, Settles Charter Disputes China Cosco Holdings posted a first-half net loss of $432 million, compared with a net profit of $553 million a...
Green Reefers Loses $11 Million Green Reefers narrowed its second quarter loss to $11 million from $13 million a year ago, but the conventional refrigerated...
China Shipping Warns of Persistent Downturn China Shipping Container Lines lost $95 million in the first half of the year compared with a profit of $264...
UASC to Hike Europe-India Freight Rates United Arab Shipping will apply a general rate increase on the eastbound trade from North Europe to the Indian Subcontinent...
China lines suffer in first half The China COSCO Group, parent of COSCO Container Lines, suffered a first half net loss of about $430 million, capping a rough week in which its longtime chief executive Wei Jiafu stood down as well as the carrier being accused of missing charter p...
Court affirms Horizon suit dismissal A sharply divided federal appeals court in Philadelphia upheld a lower court's dismissal of securities fraud suits against Horizon Line that grew out of a price-fixing conspiracy on its U.S.-Puerto Rico container liner service. Horizon and eight e...
Nasdaq warns Trailer Bridge Trailer Bridge said the Nasdaq Stock Market warned it last week that its stock could be delisted because the market value of its publicly held shares was below the $15 million minimum for continued inclusion on the Nasdaq Global Market. The company...
Hapag-Lloyd to raise transatlantic rates Hapag-Lloyd said it intends to increase rates for all cargo and all container types moving between North America and Europe on Oct. 15. Eastbound and westbound rates for containers moving between ports on any coast of the U.S. and Canada to or fro...
Safmarine adds Med/West Africa links A.P. Moller - Maersk subsidiary Safmarine said Thursday it has added three services to its Mediterranean/West Africa network. The carrier typically works in concert with sister line Maersk Line on the trade, but didn't specify if that would be the...
ATA: Truck volume fell in July U.S. trucking activity softened in July based on a 1.3 percent decrease in the American Trucking Associations Truck Tonnage Index on Tuesday. The trade association also revised downward its June index from an increase of 2.8 to 2.6 percent. Tonnag...
UPS buys 100 all-electric vehicles UPS is purchasing 100 all-electric delivery vehicles for its California fleet because the technology has advanced to the point that it can be successfully operated in short-distance applications, the company said Thursday. The world's largest pack...
Shipco starts weekly China LCL services Non-vessel-operating common carrier Shipco Transport has started a third weekly less-than-containerload service from Ningbo to New York, as well as from Xiamen to Chicago. The additional Ningbo sailing will offer customers three weekly cutoff optio...
Transportation sector girds for Irene Ports and freight railroads are among those bracing for Hurricane Irene, which forecasters expect to do widespread damage as it hugs the coast all the way from North Carolina to New York and beyond. The Port Authority of New York and New Jersey is...
Week ends with softer prices Crude futures changed little on Friday after news of no immediate plans to stimulate the US economy.
Marine transport risk assesment of Cook Inlet set to move ahead Det Norske Veritas and Environmental Resource Management-West have put together a comprehensive report on the detailed statistics of vessels that used the inlet in 2010.
Horizon Lines decreases bunker surcharge The change is set to take effect on August 28, 2011.
Derelict barge no longer environmental threat The final section of the Davy Crockett was lifted from the water yesterday.
Conference focuses on ECA challenges and Arctic shipping Experts will gather in less than seven weeks to discuss how international collaboration is key to moving toward the common goal of near-zero emissions.
Evergreen Marine profits plunge Fuel prices also averaged 35% higher than a year earlier and contributed to losses.
Companies unite to focus on fuel efficient hybrid marine propulsion systems The company claims that hybrid electric marine systems will deliver improved fuel efficiency.
Irish shipping sector static on back of rising bunker costs Shipping and port traffic volumes declined during the second quarter of 2011.
Fujairah prices mostly soft No MGO quotes available in Durban.
Wrist Ship Supply appoints account manager in Singapore 'Asia-Pacific market continues to enjoy growth from an influx of shipping firms' says Wrist.
Rotterdam bunker prices fall In Piraeus, earliest delivery dates were from August 28-29 onwards.
New bulker '25% more fuel efficient' Algoma to operate 'most modern and environmentally efficient fleet in the entire Great Lakes system'.
Ports and refineries shutting down ahead of hurricane All members of the port community 'to follow the Port Hurricane Contingency Plan', says US Coast Guard.
Surge in orders for LNG powered ships One hundred LNG powered vessels could be operating by 2014, says DNV official.
Asian bunker prices lack direction as week ends Mixed demand for bunkers at major Asian ports on Friday.
Saudi Aramco sells 180 cSt parcel at six-year high premiums September-loading cargo expected to remain in the Middle East market.
Australian ports to face bunker delivery disruptions As Shell Marine sends bunker tanker Zemira into dry docking.
Singapore fuel stocks at three-week high Stocks of middle distillates, meanwhile, are at 12-week low, according to IE data.
China COSCO lowers fuel consumption amid rising costs Focus on energy saving and environmental protection helped lower fuel consumption per thousand tonne nautical miles.
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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