|MARCH 2, 2012|
- Time to review maritime law: US lawmaker
A US lawmaker on Wednesday urged a review of US maritime law which could lead to bigger compensation payouts for passengers seeking damages from ship operators after deadly disasters at sea.
- Baltic index hits 25-year low amid vessel glut
The Baltic Dry Index, a measure of costs to ship dry-bulk commodities, fell to the lowest monthly average in more than 25 years as a glut of vessels weighed on freight rates.
- Shipping loan losses seen hitting US$13b
Banks will lose US$13 billion over the next two years on 3 per cent of all shipping loans as a collapse in earnings drains vessel owners' cash flows amid depressed asset values, Nomura Equity Research said. Thirty-one per cent of loans held by 83 shipping companies with US$201 billion in debt may 'be vulnerable,' and 10 per cent might become non-performing, the investment bank said in a report dated Feb 27.
|MARCH 2, 2012|
- APM Terminals posts 'strongest ever' profits of US$1.05 billion in 2011
- Rena officers plead guilty to mishandling boxship, forging documents
- Le Havre containers fall 6pc, but enjoy mid-year rise before 4th quarter
- Seaspan posts 83pc net profit decline to US$23.5 million in 2011
- Obama assigns 'special prosecutor' to investigate Chinese trade practices
- Containership guards repel Hormuz Strait pirates in live fire incident
- MSC deploys its first 12,500 TEU, the Fabiola, on Asia-US west coast trade
- WTSA recommends US-Asia rate hikes of US$50-$100 per FEU from April
- Sichuan road building hits four-year annual record - 6,537 kilometres
- Hainan provincial port throughput surpasses 100 million TEU in 2011
- January Xinjiang cross-border surface transport volume declines 11.9pc
- Ugandans to lose 150 containers in auction to ease congestion at Mombasa
- Israel's enhanced container security checks comes at shippers' expense
- Dutch donate 2 top quality container scanners to boost Palestinian trade
- Evergreen re-starts ANS service for North America/South America
- South Carolina governor thwarts eco-activists vetoing anti-dredging bill
- Guangxi handles 10,500 tonnes of air freight in Chinese New Year period
- US bill would force pilots to log more hours to qualify to fly cargo planes
- MidAmerica airport aims to become a cargo hub for China trade
- FedEx Life Sciences' chief calls for regulatory, tax support from India
|MARCH 2, 2012|
- DAMCO continues to make strong, steady progress
- Govt may reserve a quarter of ex-im cargo biz for Indian ships
- ICC/Ifo survey reveals slight brightening in world economic climate
- Rickmers-Linie in tie-up with Stonetrans, Antwerp Breakbulk Agencies & DP World Breakbulk to ship rough granite, sandstone blocks from India to Antwerp
- Tanker insurers may take a hit due to Iran sanctions
- Negative trade list for India cleared, MFN status by year-end: Pak
- Draft Policy for award of ports waterfront & associated land on captive user basis
- Feb. 28 strike a total success at Kandla Port: Unions
- MbPT beats JNPT to win Major Ports Cricket Championship
- ICHAA re-elects Anurag Vijayvargiya as President & Rajan Pillai as Hon. Secretary for 2012-13
|MARCH 1, 2012|
- SAS Cargo adds Shanghai to network
Today (1 March), the Scandinavian carrier SAS is launching a new Copenhagen-Shanghai (China) route, which will further improve the service between Scandinavia and the Chinese marke...
- AMI moves into new Heathrow home
The UK arm of Air Menzies International (AMI) - one of the world's largest trade-only airfreight and express wholesalers - has moved into a new London Heathrow hub facility at Pola...
- New loan for construction of Brcko bypass
The European Bank for Reconstruction and Development (EBRD) is continuing to support the modernisation of transport infrastructure in Bosnia-Herzegovina with a sovereign EUR 28.5mi...
- Etihad Airways increasing surcharges to offset EU carbon scheme
UAE-based Etihad Airways is increasing the fuel surcharge on its European flights to offset the costs being imposed on the airlin...
- Finnlines with biweekly service from Wallhamn to Ust-Luga
Finnllines is starting a new biweekly new service from Wallhamn on the southwest coast of Sweden to the Russian port of Ust-Luga in late March. The Finnish shipping company will de...
- European road transport rates decrease since May 2011
European road freight prices decreased by 0.6% in Q4/2011 compared to the price index in Q3/2011 and by 1.5% compared to the index level in Q4 of the previous year, reported Trans...
- Sernam: will the EU offer financial support?
Over the next few days the European Commission will decide whether to offer financial support to the French transport company Sernam. The latter already received subsidies in 1998....
- Terminal Basel Nord to be trimodal hub
Switzerland's new Terminal Basel Nord will be designed as a trimodal hub for maritime containers. The focus will be on inland ship - railway transport chain. This will allow contai...
- CP expands its oil by rail operation to Lloydminster, Saskatchewan
Canadian Pacific (CP), a North American transcontinental railfreight transportation company, is now shipping crude oil by rail from a new transload facility near Lloydminster, Sask...
- Philippine ambassador visits ICTSI Manzanillo
George Reyes, the newly appointed Philippine ambassador to Mexico and Central America, visited the site where Contecon Manzanillo S.A (CMSA), a wholly owned Mexican subsidiary of I...
- UPS woos TNT after weak financial year 2011
The Dutch group TNT Express reported a net loss of EUR 270 million for business year 2011. The giant US-based parcel service provider UPS is continuing its takeover negotiations fo...
- New CEO for Alitalia
The Italian airline Alitalia board has chosen Andrea Ragnetti to replace Rocco Sabelli as chief executive, effective from 5 March. Ragnetti is a former executive of Royal Philips E...
- Gefco and Minsheng Shipping evolving into Shenzhen Minsheng Gefco Logistics
It has only just come to light that the French transport provider Gefco and the leading Chinese logistics service provider Minsheng Shipping signed a joint venture contract on 5 Ja...
- Kuehne + Nagel opens new office in in Thailand
Kuehne + Nagel, the giant logistics service provider based in Schindellegi (Switzerland), has opened a new office in Chiang Mai to meet the strong demand for integrated logistics ...
- Lehnkering Chemical Transport. management expanded
The Lehnkering Chemical Transport (LCT) division, which is part of the company's road logistics and services (RLS) sector, will be headed by Steffen Bauer, with immediate effect. H...
- Break Bulk China: Shanghai- first stage of this year's Business Run
Flensborg and Associates, a Munich-based sales and consulting firm, organised the seventh Break-Bulk Business Run in Shanghai (China) on 28 February 2012, and also announced the ex...
|MARCH 1, 2012|
- MSRC beefs up response capabilities in GoM
- Rolls-Royce receives second Environship order
- Fredriksen set to go shopping with $1 billion from Seadrill shares sale
- IHC Merwede books orders worth €450million for three pipelaying vessels
|MARCH 1, 2012|
- CG holds vessel in Portland for failing safety inspection
- New study highlights value of US commercial airports
- Boeing receives honors for record Dreamliner flight
- Seattle Port Commissioners Ok first reading of Kirkland land deal
- Rail association taps IPH as full member of organization
|MARCH 1, 2012|
- Weak European coal demand sees Atlantic and Pacific rates diverge
Widening gap between panamax and supramax spot rates
- Australian and Indonesian exports dominated 2011 global coal trade
However, Atlantic coal tonne-mile demand rose 50% last year
- Robust Chinese demand brings cautious optimism to car carriers
Improved supply-demand balance to drive rate increases, says DVB Bank
- Caribbean-US product tanker trade collapses after refinery closure
Brokers say Baltic Exchange benchmark route now 'irrelevant' to the market
- Concordia Maritime evaluates next move after broadening trade base
Swedish tanker owner expanding presence in edible oils sector
- The cheap and cheerless shall inherit the seas
What price cost cutting when the average shipping firm has no fat to trim?
- Pimp my ship
Making the case for slower sailing speeds
- Marine Money: a tale of cynics, sceptics, epicureans and stoics
Speakers agree on bleak short-term trends but disagree about opportunities
- Fredriksen selling Seadrill shares to 'aggressively pursue' shipping opportunities
Stock equivalent to $1bn could benefit tycoon's portfolio of companies but also potential new ventures, say analysts
- Last Embiricos single-hull tanker sold for demolition
Brokers report that Antiparos will be recycled in Pakistan
- European freight forwarders still foresee an upturn
Bank's monthly sentiment index suggests a rise in volumes in the coming two months
- Annual Chinese crude oil tonne-mile demand closing in on US levels
Rise in shipments from South America to China increases sailing distances but ESPO pipeline limits growth level
- First mainland China-owned cruiseship sets sail next week
Huang pledges to invest in fleet to tap growing Asian leisure market
- Dr Peters seeks fresh capital
KG fund seeks to buy back two insolvent tankers
- Hong Kong bidding
Sailors' Society hosts charity bash
- KG owner is plaintiff in Hyundai Merchant Marine Rule B case
NSC Schiffahrtsgesellschaft and not Reederei Claus-Peter Offen is the company alleging $1.89m default
- Seanergy regains compliance
Surge in share price helps meet Nasdaq rules on minimum market value
- Soaring box index shows lines' GRI success
Big Asia-Europe rate increases achieved
- Torm working on new structure
Meldgaard says restructing will be attractive to new investors
- MHI and Sinopacific announce kamsarmax partnership
Japanese yard will sell technology know-how to mid-sized Chinese niche player
- Lomar named as Cosco customer
Dry bulk order came from maritime unit of Logothetis-backed Libra
- Bad weather delays Rena salvage
Costs expected to top $100m
- Eurotunnel has 'strong interest' in buying ex-SeaFrance vessels
Jacques Gounon says consortium of 500 former Seafrance staff is willing to restart Dover-Calais service
- Costa Allegra passengers disembark in Mahé
Cruiseship has taken three days to reach shore
- Looks bad, is bad
Shipping companies the world over represent the shipping industry as a whole, so Costa's problems are the cruise industry's problems
- Seafarers killed in clash with pirates confirmed as Pakistani and Iranian
But identity of vessel recaptured by Danish navy still unknown
- DFDS issues 2012 profits warning
Danish freight and passenger ferry operator cites tougher competition in the North Sea ro-ro market and higher bunker costs
- Let the market decide
Why speed limits are a bad idea
- Sinoceanic delays delivery of MSC Altair as it fails to find funding
Oslo-listed boxship operator unable to raise $61m from China's HNA Group as planned
|MARCH 1, 2012|
- Cash grab alleged
AN EXECUTIVE of Houston's Delos Shipping has alleged in a court document that BLT's controlling shareholder has shifted funds out of the Indonesian company
- High prices hurt oil demand
IHS CERA warned today high oil prices could destroy demand in an already-weak economic climate, which would hurt the already-oversupplied tanker sector
- Pacific Basin's profits drop by 69%
PACIFIC Basin Shipping today said net profits for 2011 were $32M, a 69% drop from 2010's results
- WWL plans green surcharge
WWL TOLD Fairplay it plans to raise rates to offset spiralling costs from environmental regulation
- TWIC needs tweaking
BIOMETRIC security card readers at US ports face a range of challenges before a final rule on regulatory requirements can proceed, a government report concluded
- Yangzijiang unveils $631M in profits
SINGAPORE-listed Chinese shipbuilder Yangzijiang has posted record profits of 3.98Bn yuan ($631.16M) for 2011
- No-one hurt as Allegra passengers go ashore
CRIPPLED Costa Allegra was towed into Port Victoria, Seychelles, this morning at about 10.30 local time
- Oz coal boom tied to degradation
GREENPEACE today released a report warning about environmental damage caused by port schemes and rising bulker traffic from Queensland's coal boom
- Courage loses $28.95M
COURAGE Marine said today it incurred $28.95M in losses for 2011, reversing $9.176M in profits for 2010
- RCL falls $25.5M into red
THAILAND'S RCL said today it lost 780M baht ($25.5M) in 2011, reversing 465M baht in profits for 2010
- TORM loses more than forecast
DS TORM said today it remains in talks with lenders over its financial problems, while reporting that impairment charges sparked much deeper 2011 losses than it had expected
- NOL shares rise on sunny forecast
NOL'S shares rose today after Morgan Stanley predicted a return to profitability from 3Q2012
|MARCH 1, 2012|
- Truck Pricing Forecast to Climb 3 to 5 Percent
Truck pricing is expected to rise by low to mid-single digit percentages over the next year, as shippers, brokers and...
- Intermodal Volume Slips 2.8 Percent
Intermodal volume last week slipped 2.8 percent year-over-year to 214,402 trailers and containers while carload traffic fell 5 percent to...
- UPS Names McCorstin to VP Post
UPS has named Jeff McCorstin vice president of international air and ocean freight transportation services. McCorstin will succeed Bob...
- 2 Dead, 3 Missing After Ships Collide Off India
An "unidentified" merchant ship collided with an Indian fishing trawler early Thursday about 15 nautical miles off the country's southern...
- House Republicans Could Cut Transport Plan to 18 Months
When news broke that House Republicans were considering scaling back their surface transportation bill to 18 months from five years,...
- OOCL to Boost Australia-SE Asia Rates
OOCL says it will increase freight rates on cargo moving to Australia from Southeast Asia, including from Singapore, Malaysia, Thailand,...
- Uggla to Fill Top Slot at Maersk Tugboat Subsidiary
A.P. Moller-Maersk appointed Robert Uggla chief executive of its Svitzer tugboats subsidiary. Uggla is the 33-year-old grandson of Maersk McKinney...
- Asia-Europe Spot Rates Skyrocket 88 Percent
A key Asia-Europe freight index has soared 88 percent in the past week, boosting carriers' hopes steep rate hikes introduced...
- Hanjin to Receive First of 13,000-TEU Ships in April
Hanjin Shipping will take delivery on April 1 of the first of the five huge post-Panamax ships it ordered in...
- DFDS Books Record Profit, Forecasts Tougher 2012
DFDS grew 2011 pre-tax profit by 36 percent from a year ago to a record $133 million, but the company...
- Seig to Head Ocean Freight at Damco
Martin Seig has been named global head of ocean freight at Damco, the logistics and forwarding unit of A.P. Moller-Maersk....
- Seaspan Reports Profit, Plans to Buy Back Stock
Container ship owner-charterer Seaspan reported $35.5 million in normalized net earnings for the fourth quarter, a 31.5 percent increase from...
- Deck Officers Plead Guilty to Charges in Rena Wreck
The captain and navigating officer of the Rena container ship that ran aground Oct. 5 on a New Zealand reef...
|MARCH 1, 2012|
- NAFTA trade 12% up y-o-y in December
The latest data released by the US Department of Transport's (DOT) statistics office for trade using surface transportation between the US and its NAFTA [North ...
- SeaCube's investments pay off
New York-based SeaCube Container Leasing has followed the sector's trend by posting much better results in 2011 than it did in 2010. In particular, the listed group ...
- Argentina looks at banning UK imports
The tension between the UK and Argentinian Governments over the Falkland Islands has intensified following Debora Giorgi, the latter country's Minister of Industry ...
- Containerisation International poll: customer service a 'dirty word'
- CMA CGM/Maersk upgrade transatlantic ships
- ADPC takes delivery of its first gantry cranes
The Abu Dhabi Ports Company (ADPC) has taken delivery of its first super-post-panamax ship-to-shore gantry cranes for the new port of Khalifa. A second batch of ...
- TCB Railway takes Barcelona's rail transport to new heights
TCB Railway increased its traffic by 21% last year, up to 93,000TEU. Further growth of 29% is expected this year, up to 120,000 TEU due to the wide range of services ...
- Somalia conference 'failed' shipping
That is the view of many from within the shipping industry after digesting the conclusions from the Somalia conference in London last week; although the commitments ...
|MARCH 1, 2012|
- Zim poised to raise rates
Israeli containership giant readies rate restoration programme in response to market turbulence.
- USCG hauls in Morning Spruce
Authorities blast Eukor car-carrier over 'substandard operation and condition' as inspection uncovers safety hazards.
- GMR limps toward next phase
Bankrupt tanker owner readies race for creditor blessing as four-week loss tops $63m.
- Prosafe pockets more in Q4
Oslo-listed accommodation owner turns in improved final quarter numbers but sees full year dip.
- Wreck snags boxship
Singapore's Akari gets stuck on uncharted sunken vessel off Hon Dau in Vietnam, port authority says.
- Seanergy sitting pretty
Dale Ploughman in the driver's seat as US-listed bulker owner regains compliance with Nasdaq listing requirement.
- JES takes its time
Singapore-listed Chinese shipyard needs longer to post annual report as it accounts for vessel delivery delays.
- BW joins bond bandwagon
Oslo-listed offshore owner the latest to contemplate a fundraiser via the bond market.
- Eagle talons target Allied
Sophoclles Zoullas at the helm as Eagle Bulk mounts legal assault against Dimitris Marinis-backed operator over unpaid hire.
- Vernicos plots fleet growth
Greek owner says Chinese newbuilding and another second-hand deal likely as it snaps up Svitzer tug.
- Seaspan lifts dividend again
New York-listed containership owner adds another 33% to its quarterly handout despite lower Q4 bottom line.
- What TBOOK WOG means
London appeal court makes an important ruling about tanker safety inspections and what they mean for chartering deals.
- Drydocks World closes in
Dubai-based yard to lay out plans for massive financial restucturing deal next week.
- Tallink on the up
Estonian ro-ro operator firmly in profit as passenger numbers increase.
- Torm solution still hanging
Danish owner loses over $400m in 2011 as annual report passes without restructuring plan.
| - Ocean news||web site|
|MARCH 1, 2012|
- Asia-Europe rate increases sticking, says index
- U.S.-flag shipowners want to haul oil reserves
- Union asks LaHood to press UPS on fatigue rule
- Guilty pleas in Rena grounding
- CaroTrans starts Charleston-South Africa service
- Rickmers expands China coverage
- Rickmers in joint venture to move granite
- Seaspan says it will raise dividend, buy stock
- Zim raising Asia-Europe rates
- U.S. truck tonnage falls 4% in January
|MARCH 1, 2012|
- Yin and Yang of green shipping
Singapore has shown the world that it is as committed to global environmental issues as its peers such as Hong Kong.
- MEPC 63: Applying EEDI to existing ships firmly rejected
IMO committee agrees it would be 'inappropriate' to apply EEDI formula to existing ships, meaning some MBM proposals will need revision.
- Banks 'losing patience' with struggling shipping companies
Next ten months likely to see bankruptcies and consolidation.
- Little price movement in Fujairah
Bunker demand in Suez 'average', a player told Bunkerworld.
- IFO prices firming in Rotterdam and Hamburg
Icy conditions have cleared in Hamburg.
- Call for standard to measure hull and propeller performance gaining traction
Some support at MEPC for developing standard which would help owners assess available antifouling coatings and other tools.
- Torm faces an uncertain future
Shipping group reports widening losses as a refinancing deadline passes without agreement.
- MEPC 63: CSC outlines 'considerable' GHG reduction potential
Improved hull and propeller performance could equal 35-50% of IMOs CO2 reduction target due to fuel savings.
- Pressure for fuel economy driving demand for newbuilds
Owners looking for fixed cost savings of around 30%.
- Fuel oil stocks climb again
Inventories at a nine-and-a-half month high.
- IFO prices firming in Singapore
Public holiday in Busan.
- Berlian Laju defaults on six of its debt instruments
Company defaults on two guaranteed convertible bonds and four Indonesian Rupiah issues.
- 380 cSt grade deliveries 'temporarily unavailable' at Taichung
Bunker barge responsible for deliveries of 380 cSt grade under annual maintenance, says CPC Corporation.
- South Korean bunker stocks slightly lower in March
SK Energy to undergo maintenance in one of its CDUs from second half of March.
- UK-based shipper places orders for six fuel efficient Ultramax vessels
New Ultramax bulk carriers able to carry up to 11% more cargo and consume around 13% less fuel, compared to Supramaxes.
- Vopak 2011 net profits slightly up on year
Generally positive outlook for products storage business in 2012 and 2013, says Vopak.
- Americas bunker market tracks crude decline
Prices see double digit falls.