|JANUARY 4, 2012|
- Top shipping hedge fund sees LNG beating oil, coal
Tankers hauling liquefied natural gas (LNG) at sea will earn record rates in 2012 as demand reaches an all-time high, beating returns from vessels carrying oil and coal, according to the world's biggest shipping hedge fund.
- Frontline completes revamp
Frontline Ltd, the world's biggest operator of the largest crude tankers, completed a restructuring as it sold vessels, pared commitments for new ships, and eliminated its bank debt to tackle a shipping market slump.
- Investors should buy Maersk, Frontline 2012, says Platou
Investors should buy shares of shipping companies AP Moeller-Maersk A/S, Diana Shipping Inc, and Frontline 2012 Ltd, RS Platou Markets AS said.
- Giant Vale ship completes maiden voyage to China
- Re-inventing the wheel
FEW shipowners will have fond memories of 2011. It was a difficult year for almost everybody and a really awful one for some who experienced the 'perfect storm' of low freight rates, falling vessel values and a huge overhang of debt.
- US high-speed rail network finds support among Republican candidates
President Barack Obama's programme to bring bullet trains to the United States has been left on life support by the strident opposition of Republicans in Congress and in statehouses around the nation.
|JANUARY 4, 2012|
- Shanghai rate index rises sharply on all major routes as 2011 ends
- Rotterdam box volume up 6pc in 2011 to 11.9 million TEU
- Antwerp up 2pc in 2011 to record-breaking 8.64 million TEU
- Zhuhai launches weekly service to Dalian to fetch steel for electronics
- Sino-Singaporean joint venture to buy 15 distribution centres in Japan
- New US truck driving hour rules displease all contending parties
- NOL chairman Cheng Wai Keung to retire after 10 years at the helm
- Global air freight shrinks 3.1pc in 2011's general aviation decline
- New Hactl cargo handling IT system goes live, first with Delta, then JAL
- Cathay welcomes Hong Kong-Taiwan Air Services Arrangement
- Sri Lanka calls for bids to build US$31 million aviation fuel terminal
- Air cargo dreams fade with reborn Pan Am after CEO's sex bust
|JANUARY 4, 2012|
- Capesize rates projected to sink to 10-year low
- MCCIA's shipping & logistics workshop in Pune on January 17, 18
- Shipping cos spot opportunity at a time of crisis
- Cochin Port's ship repair project draws good response
- Visakha Container Terminal crosses 200,000 TEUs in 2011
- New indices show rebound in airlines, drop in Rlys freight growth
- Service tax on rail freight deferred to April 1
- Export growth at two-year low in November 2011
- Iron ore export tariff hiked to the maximum 30 pc
- M.B. Shah Commission's report on illegal mining rejected
- Nine govt-run financial bodies to join hands for boosting infrastructure
- Orders issued for export of 2.32 lakh t sugar till date
- Sanctions imposed on banks dealing with Iran
|JANUARY 3, 2012|
- NV Logistics flying high
The Swiss forwarding company NV Logistics has started the new year with high ambitions and concrete plans to increase airfreight activities at its Geneva airport home base. NV's k...
- Next generation of space travel being developed
Paul G. Allen, a US entrepreneur, pioneer and philanthropist, has reunited with aerospace pioneer Burt Rutan to develop the next generation of space travel. Allen and Rutan, whose...
- BASF orders Vossloh diesel locos
BASF has ordered 22 modular centre-cab engines from Vossloh Locomotives. The new units will be used in mainline and shunting services at BASF locations in Ludwigshafen, Schwarzhei...
- Hellmann UK sets up Eastern Europe and CIS hub
Hellmann Worldwide Logistics UK has launched a new hub to serve the Baltic, Russian and CIS markets. The Basildon hub, in England, will provide a direct feed to Eastern Europe, eli...
- RZD orders more Siemens high-speed trains
Russian Railways (RZD) has placed an order for another eight Siemens Velaro RUS high-speed trains, plus a 30-year maintenance contract. The order is worth about EUR 600 million. Th...
- US trailer industry expected to start 2012 strongly
Commercial trailer orders surged in November 2011, with 28,400 trailers added to the orderbook. The US industry posted its strongest monthly order volume since March 2006, accordi...
- Hitachi Transport System establishes subsidiary in Vietnam
Hitachi Transport System (Asia) and Nisshin Transportation, both subsidiaries of Hitachi Transport System, recently established a joint venture with a Vietnamese partner. The new H...
- ILN introducing integrated less-than-truckload system
ILN Logistic Network, a pan-European general cargo alliance that groups 191 freight forwarding SMEs, has initiated a completely integrated system for less than truckloads. The net...
- Maersk Line CEO Eivind Kolding resigning
Eivind Kolding, who has been at the helm of Maersk Line for six years, has announced his resignation as CEO. He is moving on to head Danske Bank, Denmark's biggest bank. Maersk Li...
- Grand Alliance and TNWA establish G6 alliance
The Members of the Grand Alliance (Hapag-Lloyd, NYK and OOCL) and of The New World Alliance (APL, HMM and MOL) are set to commence cooperation in traffic between Asia and Europe/t...
- Matson raises Hawaii container rates
Matson, a wholly-owned subsidiary of Alexander & Baldwin Inc of Honolulu, raised the rates for its Hawaii service by USD 175 per westbound container and USD 85 per eastbound c...
- SBS Worldwide appoints Christian Marz as operations director
Christian Marz, SBS Worldwide's new operations director, will be based at the Chicago office and will report directly to USA managing director Lars Kloch. SBS Worldwide's chairman...
|JANUARY 3, 2012|
- Maersk Line Limited to pay $31.9 million to settle overcharging allegations
- Dredge & Marine faces OSHA citations in dredge pontoon fire case
- Korean shipbuilding exports up by 15.4 percent in 2011
- Brazil buys BAE patrol vessel trio originally ordered by Trinidad and Tobago
- Frontline completes restructuring
- Chinese shipbuilding orders fell in 2011
- Keppel takes stake in offshore wind turbine foundation designer
|JANUARY 3, 2012|
- Crowley Maritime adding 500 new high-cube boxes
- FMC wants input on NVOCC tariff rules
- Associated Global Systems earns Best Buy top carrier award
- New IMO Secretary-General making changes to organization's makeup
- Apex expanding in PNW with purchase of Ash Creek
|JANUARY 3, 2012|
- Seafarer dies off Falmouth
Two others still in hospital
- EXCLUSIVE: Jason needs Eitzen Chemical share price miracle to survive
Rebadged Camillo Eitzen is 'underwater', says Figenschou
- World liner trade capacity grows 7%
World fleet edging towards 16m teu by year-end 2011
- IMO cabinet re-shuffle unveiled
New broom Koji Sekimizu sweeps through UN agency management team
- Rising demand for chemicals keeps tanker tonne-miles buoyant
Middle East to Asia trades boost demand and absorb ships from market for longer periods
- Tankers set for 'dog-eat-dog' 2012
Weak crude tanker players to be 'devoured' in market consolidation, Arctic Securities says
- Scrapping saves chemical tankers
High levels of demolition sales over last three years raises outlook for sector earnings
- The long goodbye to Hapag-Lloyd
Tui wants out, but with no strategic investor Hamburg's Albert Ballin Consortium may be its best hope
- Wanted: hangover cure for shipping
January can be the cruelest month, too
- More sabre rattling in the Strait of Hormuz
Tehran tells the US Navy to stay away as it launches military exercises
- Chapter 11: the realities, the myths
Emergency surgery for sick companies that offers no miracle cure
- Elliott set to play wild card in Vinashin saga
New York hedge fund sues for par value of its investment, challenging Vietnam in UK High Court
- Kopernicki receives royal honour
Former Chamber of Shipping president named in New Year list
- Cosco buys Top Ships bulk carrier
Chinese giant emerges as purchaser of Pepito as Nasdaq company continues ship sales
- New momentum signals change
Signs that shipping is on the move bring hope for the year ahead
- Von Oldershausen to head global sales at Germanischer Lloyd
Shipping expert joins from Deutsche Seewert
- Court delays SeaFrance decision for another week
French government backs SeaFrance workers' buy-out bid
- 'Churn' could erode 10% in clubs' premium
Analyst Roger Elysian considers what 2012 has in store for the market
- US thirst for Brazilian biofuel means new demand for chemical tankers
US ethanol subsidies expire as country axes tariffs on imports
- Q&A: David Johnson, EOS Risk Management
Chief executive David Johnson discusses the legal and insurance implications of armed guards
- Two more cases emerge against Grand China Logistics
Minerva Marine and Vafias group launch new arbitration proceedings
- Ship Finance International confirms Frontline charters down $6,500 a day
Lower rates to be paid for four years but SFI to receive $106m cash compensation and improved profit share agreements
- P&I clubs face an uncertain new year
The European Commission is to make two important interventions in 2012, with regard to Solvency II and reinsurance
- Santos to open two private box terminals
APM Terminals and DP World projects to boost throughput to 8m teu by 2013
- JLT deal boosts marine presence in Italy
Broker also raises its presence in the London market
- CMA CGM to sell Le Havre offices
Questions over plans for group's Marseilles headquarters
- Production shift threatens box recovery
Falling freight rates have turned the Europe-Asia container trades into a bloodbath
|JANUARY 3, 2012|
- Seafarer dies in UK storm
A crewman on the product tanker Annie PG has been killed amidst severe weather off the UK and two others have been hospitalised, operator Pritchard Gordon Tankers confirmed today
- Hostage Seafarers freed
NINE TUG seafarers have been rescued from pirates off Indonesia, according to the International Maritime Bureau
- Bangladesh seen reviving breaking sector
GREEK broker Lion said shipowners hope that an imminent resumption of breaking in Bangladesh would revive languishing rates
- India pushed up iron export duty to 30%
INDIA has jacked up export duty on iron ore lumps and fines, just as the January-April peak export term is beginning
- Slowdown aids VLCCs
SLOWER steaming is raised timecharter equivalents while cutting bunker costs, a report has found
- Suezmax sisters sold
EN-BLOC tanker sales are providing some colour to an otherwise quiet S&P market
- Now Paris backs SeaFrance workers' bid
FRANCE'S government has unexpectedly reversed its stance and decided to support an employee co-operative's bid for SeaFrance
- Keppel buys OWEC Tower stake
SINGAPORE rig builder Keppel said today its subsidiary KV Ventus has acquired 49.9% of Norwegian offshore wind turbine foundation designer OWEC Tower
- Box sector toasts New Year
LONG-HAUL box rates are rising in the New Year, reflecting the zeal how keen shippers were to get goods sailing before the holidays
- Adelaide port workers locked out
SHIPPING was disrupted today after Port Adelaide's operators locked out workers, Fairplay was told today
|JANUARY 3, 2012|
- Diesel Falls to Lowest Price Since Mid-October
Diesel prices across the United States fell for the six straight week in the week ending Jan. 2, slipping nearly...
- Teamsters Launch Pipeline Strike
The Teamsters union is preparing to strike companies represented by the Pipe Line Contractors Association in a dispute over retirement...
- LA, Long Beach Ports End Dirty Truck Fees
The Los Angeles-Long Beach's penalty for the operation of older trucks expired Sunday, as the ports became the first in...
- West Coast Container Exports Rise 4 Percent
Total cargo throughput at West Coast ports in November rose 1 percent year-over-year, largely thanks to a 4 percent jump...
- Hong Kong Air Freight Slump Levels Off
Hong Kong International Airport's cargo traffic fell 6.6 percent year-over-year in November, but the steep slump in freight demand leveled...
- Bersin Assumes New Homeland Security Position
Alan Bersin, former head of the Customs and Border Protection, will assume a newly created post in the Department of...
- FEC Railway Expands Intermodal Reach in Georgia
Florida East Coast Railway plans to expand the reach of its intermodal business in 2012, adding a second drayage "relay"...
- Industrial Real Estate Demand to Grow in 2012, Report Says
Modest growth in demand will outpace expansion of warehouse and distribution center space to lower vacancy rates and raise rents...
- Nardi Named EVP at New York Shipping Association
John Nardi, a longtime official at Hapag-Lloyd (America), has joined the New York Shipping Association as executive vice president. ...
- Chassis Pool Changes Win FMC Approval
The Federal Maritime Commission will allow Consolidated Chassis Management to directly manage its intermodal chassis pools but said it will...
- US Manufacturing Jumps to Six-Month High
A closely watched gauge of U.S. manufacturing activity rose in December, indicating the 29th consecutive month of expansion, and similar...
- El Al to Pay $15.8 Million to Settle Class Action Suit
El Al Israel Airlines Ltd. last week agreed to pay $15.8 million to scores of air freight shippers to settle...
- Le Havre Freezes Port Dues, Antwerp Boosts Them
The Port of Le Havre will keep its port dues for containerships at last year's levels in 2012 for the...
- Rena Starts to Break Up, Remains Wedged on Reef
The grounded container ship Rena has started to break up but remains firmly wedged on the Astrolabe Reef off the...
- CMA CGM Sets Congestion Fees at African Ports
CMA CGM imposed port congestion surcharges on all inbound containers handled at Mombasa, Kenya, and Dar es Salaam, Tanzania, starting...
- CSAV Restructures Asia-Black Sea Service
Chilean container carrier CSAV will reorganize its Asia-Black Sea Service in February by switching out four port calls. ...
- India Export Growth Hits Slowest Pace in Two Years
India's exports in November grew 3.87 percent to $22.32 billion year-over-year, the lowest growth rate in two years. Total...
|JANUARY 3, 2012|
- Tension between the US and Iran heightens in the Middle East Gulf
The war of words continues to be stepped up between Iran and the US following the former country's recent naval and military exercises in the Straits of Hormuz, ...
- Ocean carriers start year with a freight rate bang
Ocean carriers have started to take advantage of the vessel capacity withdrawn for the winter season by hiking freight rates from Asia to both Europe and the US. ...
- More carriers gang up on Maersk
COSCON and China Shipping Container Lines (CSCL) have joined the extraordinary realignment of carrier loyalties currently taking place on the Asia-Europe trade. ...
- ATA slams new US trucking hours of service rule
The American Trucking Associations (ATA) has slammed the US Department of Transportation's Federal Motor Carrier Safety Administration's (FMCSA) revision of the ...
- Bromma order book remains strong
In an end of year statement, Stockholm-based Bromma Conquip, one of the world's leading designers and manufacturers of container crane spreaders, has announced ...
- Yang Ming and Interasia team up for Taiwan-Indonesia sling
Interasia Line and Taiwan-headquartered Yang Ming have launched a joint Taiwan-Indonesia service (TIS), which began at the end of December2011.The 14-day rotation ...
- Wan Hai and Sinotrans launch second China/Taiwan service
Wan Hai Lines and Sinotrans Container Lines are to jointly launch a second North China to Taiwan service string tomorrow (January 4). The new service, known as ...
- Construction of Bi-Oceanico Aconcagua Corridor to commence
This year will mark the start of construction work on anew cross Andes transport corridor connecting Chile with Argentina. The 204km Bi-Oceanico Aconcagua Corridor ...
|JANUARY 3, 2012|
- Analysts revisit FRO forecasts
Owner's 2013 earnings power reduced by more than $65m following sale of most treasured tankers, Sterne Agee says.
- Crewman killed off UK
Foul weather wave spells death for one of three seafarers injured on board Pritchard Gordon products tanker.
- Grand China faces fuel fight
Cosco-linked bulker caught the crossfire as bunker trader attempts to force ailing operator's chartering arm into submission.
- Gold-en opening at Scorpio?
Dan Gold's QVT emerges as a major shareholder at New York-listed tanker owner as Steelhead sells down.
- Hijacked tug rescued
Indonesian authorities recover vessel believed to have been seized in Straits of Singapore last week.
- Platou pins 2012 trough
This year should mark the turning point for many struggling shipping sectors, RS Platou Markets says.
- Siem hires out sisters
Italian oil and gas giant ENI fixes pair of platform supply vessels for West African job.
- Maersk denies bank sale
Danish shipping giant plays down talk it could exit Danske Bank after being exposed to losses.
- Enrico Ievoli crew well
Master of hijacked Marnavi products tanker says all 18 men on board are fine.
- Prosafe nets Shell deal
Cyprus-based outfit wins $55m deal to provide oil giant with accommodation unit.
- Guyanese cargoship missing
Search continues for small vesssel Oliver L which disappeared on Christmas Day.
- Sarkozy backs SeaFrance deal
Hope for bankrupt ferry company as French leader frees funds for workers' takeover.
|JANUARY 3, 2012|
- Bunker premiums at 'insane levels'
Differential facing 'inevitable fall.'
- Middle East and Africa: IFO 380 prices firmer
Durban prices rise by double-digits.
- Rotterdam market shows strong gains
Market firming in line with crude oil.
- WFS appoints new member to Board of Directors
Abby F. Kohnstamm will serve on Compensation, Technology and Operations and Governance committees.
- LNG tankers represent 'high-growth, high-profit' sector
'LNG carriers earning a 25% return on capital,' says analyst.
- Rotterdam's cargo throughput rose slightly in 2011
Fuel oil supplies also show slight increase.
- IFO prices see double digit rises in Hong Kong, Busan
Mixed demand across major Asian bunkering hubs on Tuesday.
- Fuel retrieved from grounded vessel
A total of about 12,000 litres of diesel fuel siphoned from stricken vessel.
- UBT seeks arrest of vessel over unpaid bunkers
Complaint filed against Hong Kong Chain Glory Shipping and a vessel time-chartered to the company.
- Stormy weather forces Mexican ports closure
Two key oil exporting ports closed to shipping on Monday.
- US court reverses decision against MISC
Decision paves the way for MISC to seek compensation for damages from Singapore bunker supplier Equatorial Marine.
- Philippines to take action against owner of beached ship
M/V Chang Da-12 ran aground with 13,000 litres of bunker fuel on board.
- Supplies to South Korean bunker to fall slightly in January
SK Energy trims expected bunker output.