|MARCH 5, 2012|
- Baltic index's gain smallest in six sessions
The Baltic Dry Index, a measure of global commodity-shipping costs, gained the least in six sessions on Friday as a surplus of vessels prevented owners from boosting freight rates.
- IMO set to clash with EU on vessel CO2 emissions
The International Maritime Organization (IMO) is making little headway on market-based measures to curb carbon dioxide (CO2) emissions from international shipping, putting it on a policy collision course with the European Union, observers said last Saturday.
|MARCH 5, 2012|
- Asia-Europe rates soar 71pc to US$1,412/TEU as transpacific slips 0.8pc
- CMA CGM ups Asia-Europe rates US$408/TEU, adds 5 surcharges from April
- New MSC ship accident: 4,437-TEU Carole runs aground on reef off Jakarta
- OOCL raises rates on southeast Asia-Oz trade US$200/TEU from April
- Sydney's Port Botany volume increases 2pc to 621,000 TEU in 2011
- SeaCube box lessor 2011 profit rises 27pc to US$44 million, sales up 23pc
- Guangzhou and Maoming joins hands on port projects
- OOCL switches terminals in New York and Le Havre on Atlantic Express loop
- Bangladeshi exporters lose their Singapore bypass service to China
- Delhi earmarks US$305 million to dredge Mumbai's JN port to 14 metres
- Union Pacific CEO Young takes leave for pancreatic cancer treatment
- Asia Maritime 2012 holds 3-day Singapore conference March 14-16
- Erratum: Asia-West Africa Trade Agreement GRI notice wrongly dated
- Evergreen links up with NYK, Hanjin, Hyundai on South America service
- China Southern experiments with Shanghai-Sydney cargo flight service
- Royal Jordanian EU carbon tax surcharge unsettles Indian forwarders
- Changi Budget Terminal closes Sept 25, to be replaced by Terminal 4
|MARCH 5, 2012|
- Adoption of global containerised freight e-commerce continues to expand
- APM Terminals Inland Services inks MoU to start CFS operations in Kochi
- Capesize charter costs could drop further
- Govt mulls insurance cover for ships moving Iran oil
- Lift and Shift achieves an extraordinary high in heavy lift/project cargo transport in India
- Rear Admiral (retd) Shrawat appointed Mazagon Dock CMD
- Shippings impact on world oceans well regulated: ICS
- Tolani Shipping assures full cooperation in investigation into collision incident off Kerala coast
- Vijay Tanks & Vessels ships colossal storage sphere to Australia
- Customs duty hike on power gear imports to be announced in Budget
- Exports increase 10.1 pc in Jan. to $ 25.34 bn
- Exports to Iran to increase, says Fieo
- Iran pays Indian exporters in rupees
- Ministry plans hike in steel import duty
- ' slips to 3-wk low of 49.50/51
- EU steps have eased global slowdown threat: IMF
- Forex reserves zoom to $295 bn
- Trade deficit nears $ 150 bn
- India, China plan maritime dialogue to augment trust
- India's largest zinc sulphate plant inaugurated
- Combined WWPC power moves 54 wind turbines from Spain to Ethiopia via Djibouti
- Multitrade Spain manages massive 336 railcar transportation project from Spain to Venezuela
- Rickmers-Linie expands China coverage
|MARCH 2, 2012|
- Germany's FSG books order for versatile project cargo duo
- Statoil to invite tenders for a new type of jack-up rig
- Coast Guard detains Singapore-flagged car carrier
|MARCH 2, 2012|
- Celebration marks arrival of Emirates flights to Sea-Tac
- U.S. railroads post up/down numbers for week
- NYK Group earns recognition for 2011 environmental report
- Olympia Port Commission Oks deal with Lorig Associates
- Coast Guard taps Seattle native as top reserve enlisted person
|MARCH 2, 2012|
- Shipping defaults could wipe out some banks' equity
Germans in firing line due to KG exposure
- SCFI gains a fifth as Asia-Europe box rates soar
Surge in Shanghai Containerised Freight Index provides further evidence of box lines' success in ramping up westbound rates from Asia
- Can the Asia-Europe boxlines make spring rates hikes stick?
Newbuildings threaten further imbalance between supply and demand
- NYSE to delist Horizon Lines common stock
Jones Act liner major loses appeal against October suspension notice
- Petrobras books Euronav ULCC for storage
Brokers report TI Europe fixed for six months, with options, at just $20,000 a day
- Optimistic DVB to hike lending in 2012
Banker worried about shipbuilding capacity and run-down ships
- Höegh LNG inks 10-year charter with Lithuania for newbuilding regas unit
Norwegian company says deal will generate $50m a year
- SISI sees slower growth in global cargo throughput this year
Lacklustre global economy weighs on sentiment
- Goldman Sachs and Fredriksen linked to Torm restructuring
Investment bank tight-lipped over reports of proposed equity deal
- NewLead opts for one-for-five reverse split
Greece-based owner moves to regain compliance with Nasdaq rules on minimum bid price
- Brokers' hopes dashed as capesize rates flatten
Chinese new year bounce-back proves short-lived
- Chinese iron ore imports under threat from ramped-up domestic mining
Mixed signals regarding 2011 demand for foreign iron ore could hit capesize market
- Lloyd Fonds KG fund in insolvency threat
Fund seeks fresh capital amid a wave of insolvencies
- Bashing the bankers
Defaults are putting lenders under severe stress
- Lyttleton Port Christchurch defers cruise berth decision
New Zealand construction costs soar after earthquake
- MEND offers to negotiate release of crew held by Nigeria pirates
But expert suggests links between pirates and anti-oil militants
- Will GRIs come to grief?
It is far too early to hail last week's rate hikes as a success
- UK government shuns industry-led standards for armed guards
Lancaster House conference on Monday will take first steps creating new regime
- Oriental Precision placed under creditors' restructuring
South Korean machinery maker suffers amid industry woes
- SCI cancels Iranian crude shipment after insurers deny coverage
Suexmax fixture halted last month ahead of tougher European sanctions
- Statoil to tender new type of $500m rig
Norwegian oil group will use 'cat J' rigs to drill in mature oil fields off of Norway
- Japanese buyers seek force majeure for Iran contracts
Pressure builds to add clause to insurance agreements from April
- Ezra builds warchest for subsea projects
Singapore-listed offshore contractor sells 5.6% of its stake in Ezion
- Second ballast water system taken off the market
Pulled technology had secured type approval
- Ningbo box volume growth soars in February
Shippers scramble to move cargo ahead of Asia-Europe price hikes
- Capital market enthusiasm for shipping remains muted, owners told
IPOs are currently viable for LNG carrier owners but the sector is an exception
- Detained Beluga Participation in insolvency case
Questions who owns vessel held in Mumbai
- Hanjin joins April general rates push
South Korean boxline plans $400 per teu hike on Asia-Europe trades
|MARCH 2, 2012|
- Cruising grilled on taxes
A PROMINENT US lawmaker has questioned whether the cruise industry is paying its fair share of US taxes
- NewLead goes for split
NEWLEAD Holdings today announced a 1-for-5 reverse stock split to bring its share price comfortably above NASDAQ's minimum
- Allied stuck in crosshairs
GREEK drybulk operator Allied Maritime is being besieged by legal action and allegations of unpaid bills, court documents reveal
- Three found guilty in 1988 ferry terrorism
A FRENCH court today convicted three men for their part in a 1988 terrorist attack on a Greek ferry that left nine people dead and 100 injured
- Far East/Europe box rates jump
SPOT RATES on key Far East/Europe trade lanes jumped markedly higher this week, driven by liners' push for increases, Arctic Securities said
- Pacific Basin shares rally
HONG KONG drybulk shipper Pacific Basin's shares today closed 6% higher at HK$4.23 ($0.545), despite posting lower annual profits yesterday
- Maybulk seen coiled for S&P strike
MAYBULK, which has been largely absent from the S&P and newbuilding markets, might be returning this year, a shipping analyst said today
- UK deals focus on pirate suspect transfers
THE UK has initiated a range of steps to counter piracy since last week's Somalia conference
- Nickel drives Supramax surge
THE INFLUX of coal and nickel ore cargoes has sparked a Pacific Supramax rate climb this week
- ISS pushes into logistics
ISS CEO Claus Hyldager has completed the port agency specialist's restructuring, which he told Fairplay would "ensure balance across the regions, yet provide much-needed flexibility"
- VLCCs rise on March coverage
CHARTERING of VLCCs has surged this week with players rushing to cover voyages for the last two weeks of March
|MARCH 2, 2012|
- Horizon Boosts Rates on Puerto Rican Trade Lanes
Horizon Lines said Friday it will raise freight rates on cargo moving between the U.S. and Puerto Rico as of...
- Trans-Pacific Containerized Trade: Interactive Graphic
How many TEUs did Japan export to the U.S. in 2009? What is the forecast for U.S. containerized trade with...
- Rate, Surcharge Update for Week of Feb. 27- March 2
Mediterranean Shipping imposed a general rate increase on westbound cargo from India to North Europe and the...
- Pantos Logistics Opens Dutch Logistics Center
Pantos Logistics recently opened a roughly 31,000-square-foot logistics center near the Port of Rotterdam to distribute vehicle parts across Europe....
- India's Port Nehru Gets Closer to Handling Larger Ships
The Port of Jawaharlal Nehru (Nhava Sheva) will be able to handle deep-draft vessels and expand throughput capacity in roughly...
- James River Coal Expects Shipment Growth via CSX, NS
James River Coal in 2012 expects to ship at least 3.3 percent more coal from the Midwest and Central Appalachia...
- West Coast Ports' Long Haul
When U.S. ports in the Pacific Northwest talk about rival Prince Rupert, British Columbia, words such as "diversion" and "unfair...
- Currency for Trade
February's visit to the U.S. by China's likely next leader, Xi Jinping, provides policymakers and business leaders in both countries...
- Export Growth Loses Steam
U.S. containerized exports started 2011 with a bang before slowing in the fourth quarter, but the outbound business finished the...
- Mixed Bag in Asia-US Trade
2011 was a year of contrasts in the Asia-U.S. trade. U.S. containerized imports from Asia were essentially flat, inching up...
- Port Possibilities
Republicans are hoping the bankruptcy of solar panel manufacturer Solyndra will create a Watergate-like scandal for Democrats. The GOP is...
- Trucking Pioneer Henry Vander Pol Dead at 95
Henry Vander Pol, a trucking pioneer who helped establish two motor carriers in the Pacific Northwest, died Wednesday in Auburn,...
- EEOC Sues Celadon Trucking For Illegal Medical Exams
The U.S. Equal Employment Opportunity Commission is suing Celadon Trucking for allegedly requiring prospective employees submit to illegal medical tests....
- Celadon Trucking Acquires Teton Assets, Drivers
Celadon Trucking will get trucks, trailers and, perhaps most important, badly needed truck drivers from its purchase of Teton Transportation's...
- Union Pacific CEO Young Takes Medical Leave
James Young, chairman, president and CEO of Union Pacific Corp., the largest U.S. railroad, will take a medical leave of...
- 2 Million TEU Port to Open in UAE in Late 2012
The Abu Dhabi Port Co. plans to open a port with an initial annual capacity of 2 million 20-foot equivalent...
- Indexing World Trade
At times, it seems the only thing shippers, forwarders and carriers share is a common mantra: They say they want...
- Swapping Data
It's fine to have an opinion but better to base the opinion on facts, especially if millions of dollars are...
- New Winds Blowing
As the industry gathers in Long Beach this week for the 12th Annual TPM Conference, shippers face a more complex...
- Looking Ahead
When shippers, ocean carriers and others gathered for The Journal of Commerce's annual Trans-Pacific Maritime Conference three years ago in...
- Broker Caught In the Line of Fire
Q: You've addressed the issue of brokers paying carriers and carriers not paying subcontractors many times, yet I find myself...
- Hanjin Will Boost Asia-Europe Rates Again
Hanjin Shipping joined other carriers on Friday in announcing a second round of freight rate increases on its westbound Asia-Europe...
|MARCH 2, 2012|
- Auckland port dispute to end in court
That seems to be the only way forward from the intransigence emitting from both the Port of Auckland's [PoA] management and the Maritime Union of New Zealand's ...
- MSC transfers big vessels into transpacific tradelane
- Bunkers spike another USD13 in morning trade
Ocean carriers and short-sea operators are nervously watching the oil markets again after the cost of Rotterdam-sourced IFO 380 soared by USD13 per tonne in trading ...
- DFDS slips in Q4 11
Denmark-based DFDS saw its profitability slump in Q4 2011. Compared to Q3 11, its revenue fell by 12%, down to DKK2,746 (USD479) million, out of which operating ...
- MSC boxship sub-let from Maersk, owned by Seaspan steams into Jakarta reef
APL - which has a slot charter agreement with Maersk Line on its China - Australia - New Zealand VSA service operated by the Danish carrier and Geneva's MSC - has ...
- CMA CGM joins rate increasing bandwagon
CMA CGM has joined the list of ocean carriers seeking a second bite of the freight rate cherry in the tradelane from Asia to Europe. It has announced that it will ...
- Eurozone jobless hits new record, but pain mainly in Spain
Unemployment in the 17 nation eurozone rose again in January to 10.7% - there are now 16.9 million people out of work in the single currency states. However, the ...
- RCL also suffers from 'weak shipping environment'
Posting a full-year net loss of THB780 (USD25.8) million for 2011, Thai-based intra-Asia carrier, Regional Container Line [RCL], said that 'continued over-capacity ...
|MARCH 2, 2012|
- SBLK cape in Turkish scrape
Jewel of Star Bulk Carriers' capesize stable out of commission after scraping bottom on entry to port of Eregli.
- BLT enlists reinforcements
Cash-strapped Indonesian owner crowns restructuring commander as concerns over depth of financial troubles mount.
- NewLead readies split
Greek owner lines up cure for Nasdaq deficiencies as share price lingers below key threshold.
- Solvang back at HHI
Oslo-listed LPG operator returns to Korean yard for a second Very Large Gas Carrier.
- Threat sparks ship evacuation
Passengers disembarked as crew conduct security sweep of ship after hoax message.
- Troim: no rush with cash
John Fredriksen's lieutenant says tycoon will take his time before splashing the $1bn burning a hole in his pocket from Seadrill share sale.
- SBM Offshore takes a $1bn hit
Eyewatering impairments push Dutch offshore specialist to a massive loss as platform pain goes on.
- Yard in bankruptcy fight
Mykolaiv court starts proceedings against Chernomorsky two weeks after it posted annual profit.
- Nigerians confirm capture
Trio of seafarers snatched from a Dutch reefer off the coast of Nigeria this week are alive and well.
- Sinochem saves Dorval
Japanese tanker owner planning joint venture with Chinese petrochemical trader in bid to take it out of court administration.
- Tzitzis and Papalios team up
Greek owners in the market for tonnage for Icon Shipping partnership
- Farstad ditches old Ladies
Karl-Johan Bakken-led company sells early 80s built anchor handlers.
- Matching investment and talk
Derivatives defended, the merits of avoiding business contraction and fitting in time for sleep in a crisis.
| - Ocean news||web site|
|MARCH 2, 2012|
- K+N offers wireless temperature control
- Conrad: Smaller TP lines a 'barometer of the trade'
- Coast Guard detains ship in Portland
- Union Pacific CEO takes medical leave
- Delmas adds Algeciras to 5 West Africa loops
- Hanjin raises Asia-Europe rates
- Blue Tree, McLeod Software integrate
- Pantos opens in Holland
- Mercedes promotes FleetBoard in Ireland
- CMA CGM's Asia-Europe rate increase plans
|MARCH 2, 2012|
- Bunker prices surge across the Americas
Demand in Cartagena was busy due to low volumes, according to players in the region.
- Global bunker market experiences volatile week
Bunker prices experience volatile week on back of a tense crude market falling victim to supply rumours.
- Emulsion fuel producer gains increasing investor attention
Investors looked for more information on why shares in producer of emulsion fuels had risen almost 50% in three days.
- No consensus on outstanding part to GHG agreement
Disappointment at MEPC 63 as a resolution needed before a new part of MARPOL Annex VI enters into force remains contested.
- New fuel efficiency monitoring system launched
Transas estimates that optimal operation of technology could lead to fuel savings of approximately 5%.
- Bunker prices jump in European ports
NYMEX showing losses of more than $1 in early trading.
- Gazpromneft Marine Bunker looking for 10% growth
New barge acquired for St. Petersburg operations.
- Prices firm across Middle East and Africa
Quiet market activity in Suez.
- Reefer company reports widening losses
Blames high bunker prices and falling freight raters.
- Sanctions against Iran hit Fujairah bunker market
'Fujairah's loss and a big gain for Singapore,' says trader.
- Bunker prices firming in key Asian ports
Demand 'below average', say traders.
- US agencies finalise restoration plans of Cosco Busan spill
A total of $32.3 million will be spent on a variety of restoration projects, says NOAA.
- Norway-based shipowner orders second LNG-powered forage carrier
Rolls Royce NVC 401 Forage Carrier powered by Bergen C-Series gas engine.
- 'Strong performance' in Grindrod's bunker business
Company says it is in discussions for the 'potential' sale of 50% of its bunker business.
- US bankruptcy court approves Genmar disclosure statement
Approval of disclosure statement allows Genmar to solicit approval of reorganisation plan.
- Sinopec Zhoushan monthly bunker sales volume down 15%
Company sold 187,600 mt of bonded bunkers in February 2012.
- Markets in the Americas fluctuate on crude concerns
Crude oil prices rose above $110 a barrel for the first time since May.