Record bunker fuel charges sink shipping profits Record prices for ship fuel are compounding losses at freight companies already suffering from the worst January on record for transport rates.
Asia dry bulk rates to remain low Rates for dry bulk carriers on key Asian freight routes are expected to hover near multi-year lows over the next week as an increase in trading activity fails to offset pressure from an ever expanding fleet, ship brokers said yesterday.
Scheduled truck service from China to Kazakhstan AsstrA Associated Traffic AG has launched a new transport route from China to Kazakhstan via the Chorgos border post in western China. AsstrA, an international transport and logist...
Tripartite agreement between CMA-CGM, CSCL and UASC on Asia-Middle East route With effect from today (2 February 2012), the French shipping company CMA CGM's CIMEX 1 service on the Asia-Middle East route will be operated jointly by CMA CGM, CSCL and UASC. Th...
SNCF: more railfreight thanks to activities abroad The French national rail group SNCF generated a total turnover of EUR 32.6 billion in 2011, 7.2% more than in the preceding year. Every one of the SNCF group's divisions saw sales ...
Trade in ECO region hindered by border crossings The mid-term results of the joint IRU-ECO regular monitoring of trucks / NELTI 3 were presented at the 173rd meeting of the Council of Permanent Representatives of the Economic Coo...
Norbert Dentressangle with higher revenue in 2011 French transport and logistics service provider Norbert Dentressangle reported revenues of EUR 3.576 billion in 2011, a 26% increase over 2010. The transport segment consolidated i...
Laurent Castaing is new general manager of STX France The STX France shipyard in Saint-Nazaire (France) has appointed Laurent Castaing as its new general manager. He succeeds Jacques Hardelay. Castaing already held various positions a...
Toulouse boosts freight volumes The airport in the Airbus city Toulouse in southwest France noted an upsurge in all types of airfreight in 2011. Out of a total of 55,211 t of cargo (+5% more than in 2010), the mo...
Delta Cargo first to enable GPS for air shippers across global network The US carrier Delta Air Lines has announced an exclusive marketing agreement with OnAsset Intelligence, a leading provider of machine-to-machine wireless asset tracking solutions,...
Marseille fairly happy with 2011 At a recent press conference, the port of Marseille (France) announced that its 2011 throughput amounted to 88.2 million t (+3%). The port only handled 945,000 teu instead of the t...
Prologis names new director for southern Europe The real estate developer Prologis has named Olivier Barge as its head project manager for southern Europe. In this position he will lead the company's teams in France, Italy and S...
LAN's cargo revenues up 23% in 2011 Lan Airlines, one of Latin America's leading cargo carriers, has announced it consolidated financial results for 2011. Cargo revenues (USD1.576 billion) rose by 23.1%, driven by an...
XL Airways: manager leaving after change of ownership Martin Greiffenhagen, the sole managing director of XL Airways Germany GmbH, is leaving the German charter airline on 29 February at his own request. The move comes after 100% of t...
New CEO of Maersk Line picks executive management team Maersk Line has updated its organisation and set a new team of executive managers with a blend of experienced executives and newcomers. New to the management team - and Maersk Line...
New rail service on the Portugal-Germany Route Starting tomorrow (3 February), DB Schenker is offering a new regular train service between Portugal and Germany. Trains for exporters from industry and trade will connect Por...
Geneva Free Ports & Warehouses expanding Geneva Free Ports & Warehouses Ltd, a Geneva (Switzerland)-based entity that was founded as a bonded warehouse in 1888, is set to expand. In 2009, the service provider already ...
Good Q4/2011 result for UPS UPS, the world's largest parcel service provider, boosted its financial Q4/2011 turnover to USD 14.17 billion, 6% more than the USD 13.42 billion posted in Q4/2010. The operating p...
China set to increase gas imports by 45% this year Extra cargoes set to boost LNG shipping rates
US Navy buys Hawaii Superferry catamaran pair for $35m Six-year-old saga finally ends after MarAd cuts its losses
Product tanker Caletta barely covers transatlantic operating costs Vessel glut in Europe as ballasters arrive will cap rates for voyages to the US
Italy faces ship finance freeze Shipowners to feel squeeze as Italy banks shutdown lending
Tankers hit as China's oil demand growth slows European debt crisis reigns in Chinese economic growth and oil demand
Comment: Chinese regulation is just a dressed-up Vale ban Beijing's ban on all bulk carriers over 350,000 dwt makes no sense in terms of vessel dimensions
MSC and Zim join Asia-Europe rates push World Container Index down after Shanghai-Rotterdam component declines
Liner industry must scrap older tonnage Container sector takes delivery of 1.8m teu in 2012
British Marine defectors to pay over $1.2m in damages and court costs P&I fixed premium start-up cannot appeal decision
Default 'academic' to amount of lending for owners But ex-RBS shipping man sees operational risks for banks if country misses repayment
Greek banks provide a quarter of the shipping loan book In the past Greek owners turned to international finance
Wider financing crisis trumps spectre of Greek default Whether Greece defaults on its sovereign debt or not, when it comes to financing the nation's owners have bigger problems to worry about
Noble sends its drillships to Mexico Slowdown in regional drilling after Deepwater Horizon spill
Costs mount as offshore drillers clean up industry's image Noble ups spends on health, safety and the environment after Deepwater Horizon spill
Preliminary ruling boosts Transocean The US Department of Justice court case against BP, Anadarko and Transocean is set to start on February 27
Cool heads will find common ground in Rotterdam It takes consensus not lawsuits to resolve capacity row over Maasvlakte 2
Don't dismiss Manila Lay off Manila's automobile problem and consider it as a budding maritime centre
Zero dollar rates reported as Atlantic supramax demand dwindles No respite as shipowners chase dwindling cargoes
January capesize spot fixtures reach lowest level in over three years Weak cargo demand explains dry bulk rates crash
Pressure mounts in US for Harbour Maintenance Tax Fund reform Operators say government coffers are full but ports' dredging needs go unmet
Costlier finance curbs orderbook, says Bottiglieri Breakneck expansion would be 'suicide', says top Italian owner
North Europe faces zero import growth in 2012 Continent will be slow to emerge from recession, says Global Port Tracker
Royal Caribbean tries to reassure cruise customers 2012 bookings fall after Costa Concordia casualty
China sheds light on valemax ban Dry bulkers over 350,000 dwt and 450,000 dwt tankers are barred from country's ports
OSG chief Arntzen backs US tax change on foreign earnings American Shipping Reinvestment Act would allow US shipping companies to bring home earnings 'stranded' overseas
Italy refuses to issue cruise accident report ITALY'S maritime register has reportedly refused for two years to submit an accident report involving a sister ship of Costa Concordia to the IMO
MOL, NYK graded down MOL AND NYK Line were both graded down today by a ratings agency
Survivors sought in PNG sinking MERCHANT ships have helped rescue hundreds of people after a ferry sank today in Papua New Guinea, but scores are still missing
Italy seeks piracy help ITALIAN Prime Minister Mario Monti has reportedly asked Somali counterpart Abdiweli Mohamed Ali for help in freeing an Italian tanker taken by pirates
Profits rocket at Essar Ports RUIAS-owned Essar Ports today reported a 500% increase in profits year on year for 2011's October-December quarter
Korean builder profits fall SAMSUNG HI said today 2011 profits dropped 12% year on year to 863.9Bn won ($772M)
Tanker demand grows TONNE-MILE demand for oil product tankers will rise by 2% on an annual average, as more refined products make their way from the West to the East, according to brokerage McQuilling
OSG urges US tax change INVESTMENT in the US tanker market would improve if an obscure tax law is eliminated, OSG has told Congress
Jadroplov halves losses CROATIA'S Jadroplov bulk shipping company has reported a 50% drop in consolidated net losses for 2011 year on year, to 11.4M kuna ($2M)
Carriers seek rate rises BOX LINES are demonstrating their resolve to halt a prolonged price war by seeking higher rates on the depressed Asia/Europe route
China gobbles Newcastle coal CHINA started 2012 with another strong year-on-year boost in its thermal offtake from Newcastle, terminal operator Port Waratah Coal Services has indicated
Overcapacity to hit rising rates MAJOR box shipping lines have unveiled significant rate increases in recent months, but the sustainability of the rises remains in doubt because persistent overcapacity, a shipping analyst has warned
BHP approves port funding MINING giant BHP Billiton said today it has approved $779M in funding to start the first stage its Outer Harbour expansion at Port Hedland in Western Australia
Keeping nickel ore dry INTERCARGO today issued guidelines for transporting nickel ore in response to four sinkings and 66 deaths in the past 15 months, all related to the cargo
CSD shuffles businesses TWO NEW drybulk companies are being added to China's shipping sector
RailAmerica Acquires Two Short-Line Railroads RailAmerica this week announced the acquisition of a Michigan short-line railroad, a Northeast short-line railroad and a transload operator for...
MSC to Raise Asia-Europe Charges By $775 Mediterranean Shipping raised the stakes in the container ship carrier bid to pump up rates on depressed Asia-Europe lanes on...
Q&A: California's Ports Face Challenges, High Environmental Standards JOC Editor Bill Mongelluzzo reports live from The 12th Annual California Maritime Leadership Symposium conference in Sacramento, Calif. Bill says...
Moody's Downgrades MOL, NYK Line Moody's this week downgraded the ratings of Japanese ocean carriers NYK Line and MOL, citing concerns that vessel overcapacity could...
Hapag-Lloyd Raises Rates on Far East-India-Middle East Service Hapag-Lloyd will apply general rate increases on all cargo moving from Far East Asia to the Indian subcontinent and the...
Maersk Switches Belgian Ports on Middle East, India Service Maersk Line will replace a call at Zeebrugge, Belgium, with an Antwerp port call on service connecting the Middle East,...
Transport Corporation of India Profit Up 15 Percent Transport Corporation of India said Thursday its net profit in the third quarter of fiscal year 2011 rose 15 percent...
Container Lines Gain Record Schedule Reliability Container shipping lines boosted the reliability of their service schedules to a new record of on-time arrivals in the last...
Indonesia Boosts Exports, Taps Manufacturing Shift Indonesian exports in 2011 rose 29 percent year-over-year to $204 billion, as Southeast Asia's largest economy taps manufacturers' shift of...
Congress Set to Vote on FAA Reauthorization After five years and 23 extensions, authorization of Federal Aviation Administration operations could clear Congress as early as this week....
Asia-Europe Spot Rates Drop 6.4 Percent Average spot rates on the Asia-Europe trade lane dropped this week for the second week in a row, even as...
Hanjin Seeks $700 Increase in Asia-Europe Rates Hanjin Shipping joins other major ocean carriers in pushing bold rate increases on the depressed Asia-Europe trade lanes, announcing a...
Kuehne + Nagel Buys Australian Perishables Forwarder Kuehne + Nagel's acquisition of specialized Australian freight forwarder Link Logistics International is the Swiss logistics giant's latest expansion in...
Costamare More Than Doubled Net Income Last Quarter Costamare more than doubled its fourth quarter net income to $26.1 million from a year ago, as the Greek containership...
OOCL to Quit Providing Chassis in NY-NJ Port Region OOCL plans to quit providing chassis for the drayage of import and export containers at facilities in the New York...
NAFTA trade up 13% in November Continuing the positive sentiment emanating from across the pond, the latest data released by the US Department of Transport's (DOT) statistics office for trade ...
Tank cleaning station in Russia opened Bertschi and Stolt have opened a tank cleaning station in Nizhnij Novgorod, 400km east of Moscow, where a big chemical cluster is located.The facility is located ...
UASC confirms replacement of AEC2 Asia/Europe service UASC has confirmed that as a result of its new alliance with CMA CGM and CSCL, it will be revising its AEC2 service between Asia and Northern Europe this ...
Bunker prices and slower Asia-Europe trade hurts UASC High bunker prices and slower than expected growth in the Asia-Europe trade has made life tough for UASC, admitted Jorn Hinge, president and ceo of the company ...
Belgium slips back into recession The ignominious label of being the first non-bail out eurozone country to fall back into recession has gone to Belgium following the posting of a 0.2% contraction ...
More carriers dash for cash in Asia/Europe tradelane More carriers have joined Hapag-Lloyd in announcing swingeing freight rate increases in the tradelane from Asia to Europe on March 1, 2012, as shown in the table. ...
Middle East is resilient and offers opportunities This was the view of most speakers and delegates participating in the Middle East Liner Shipping Conference held in Dubai earlier this week.Mathijs Slangen, a senior ...
NYK the best of a bad bunch NYK drifted into the red in the first nine months of its financial year started on April 1, 2011, but outperformed its Japanese colleagues in MOL and K Line. Its ...
Oaktree investigates IT breach Private equity giant joins Gulmar Offshore in torpedoing allegations of fraud and tax evasion as police probe whistleblower.
Seadrill CFO resigns John Fredriksen-controlled drilling giant shuffles management structure as Esa Ikaheimonen departs.
China clarifies valemax ban China Shipowners' Association sheds light on specifics of bulker boycott while Brazilian mining giant breaks silence.
Lazard cuts Urs Dur Investment firm parts with one of shipping's veteran equity analysts in tough finance market.
HLNG eyes expansion ammo Oslo-quoted owner tests market appetite for gas stocks with $200m fundraiser aimed at growing FSRU arsenal.
Lodestar losers pay the price Team behind attempt to take British Marine's P&I business by stealth suffer another comprehensive defeat.
Dutch courage boosts Siestas Insolvent German yard's hopes of survival lifted by Van Oord renegotiating wind power order.
Germans sue Schettino Nineteen passengers file claim against captain of Costa Concordia, claiming negligence.
Tidewater trumps the street US offshore giant defies analysts' expectations to hold steady course in the final quarter.
Concordia hurts RCCL Richard Fain-led Royal Caribbean will miss first quarter and 2012 estimates following Carnival's Italian casualty.
BP suezmax punctured Alaskan Navigator heads to repair yard after small hole found in hull off Oregon.
SCF IPO "first in line" Russian economy ministry says tanker company's share sale is the main priority for the spring.
Statoil gives Bergen work Oslo-listed shipbuilder and offshore firm wins subsea construction job from Norwegian oil and gas giant.
Presentations invited for particulate measurement workshop 'Scope of the workshop covers marine distillate fuels, which should be of interest to Sustainable Shipping and Bunkerworld readers.'
IMO: New fuel oil sampling guidelines cause a stir BLG fails to move forward on determining appropriate procedures often used by port state control for collecting fuel samples.
Ratings agency downgrades MOL and NYK Moody's says shipping lines' cash flow will remain weak.
Fuel oil prices rise, MGO mixed Good bunker demand in Hamburg.
Small price movements in Fujairah One player in Suez had no avails of 180 cSt product.
Chinese player in first overseas term-supply contract Deal allows Chinese supplier to use BP bunker network.
Discounts widen for fuel oil cargoes East Asia sees record volume of product moving into the market.
Clipper Group to get new Senior Bunker Manager Leaves Torm Shipping to join Clipper in March.
Terminal operator welcomes high bunker prices Baltic Oil Terminals says all its tanks are fully let.
Singapore onshore fuel stocks at 18-week high Fuel oil stocks rise due to the influx of Western arbitrage cargoes.
Prices in Asian hubs show little change Moderate demand in Singapore.
Singapore unveils new fleet of low-emission patrol crafts Green features in line with MPA's commitment to cleaner shipping and marine environment protection, it says.
Japan bunker inventories expected to rise in February Idemitsu Kosan offering 'plenty of avails,' says traders.
Fuel testing agency opens lab in Ghana 'World-class modern' facility will test and inspect various oil and petroleum products including marine fuel.
S&P lowers Buckeye's outlook Revision reflects its opinion that Buckeye's credit metric may remain weak for an 'extended period.'
Japanese player welcomes new bunker trader Fujimura Koji joined the company this week.
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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