Little left to short with shipping stocks slump The shipping industry is offering fewer targets for investors betting on declining share prices after its 80 biggest listed companies lost US$99 billion of market value in four years, hedge-fund managers said.
India buyers ask Iran to bear oil insurance risk Indian oil buyers are asking Iran to bear the insurance risk for transporting its crude as tighter Western sanctions make it more difficult to buy Teheran's principal export, industry sources said yesterday.
BNSF cut customers' CO2 emissions substantially in 2011 The US transport service provider BNSF significantly reduced carbon dioxide emissions in 2011 by shipping freight by rail instead of moving goods entirely by road. In 2011, custome...
L.I.T. takes delivery of 50, 4 m high Kögel Mega P55s L.I.T. AG, a transport specialist based in Brake (Germany), has augmented its vehicle fleet by the addition of 50 new height-optimised Kögel Mega P55 trailers. This type of vehicle...
Cargobull presents innovative tarpaulin to speed up HGV loading/unloading The German vehicle manufacturer Schmitz Cargobull has presented an innovative truck tarpaulin that speeds up truck loading and unloading processes. The product, known as a Speed Cu...
OPDR upgrades services to Portugal and Spain The German short sea shipping company Oldenburg-Portugiesische Dampfschiffs-Rhederei (OPDR) revamped its Portugal, Canary Islands and Spanish mainland services on 7 March. Prior to...
Brussels airport changes cargo team Brussels airport has made a series of changes to strengthen its cargo business unit in order to cope with the increased work and projects at Brucargo. Piet Demunter, who started th...
Cathay Pacific suffered from high fuel prices and low cargo demand The Hong Kong-based airline Cathay Pacific announced that in 2011 the core business of the group was materially affected by instability and uncertainty in the world's major economi...
Azerbaijan's transport ministry announces USD 1.1 billion tender for new port Azerbaijan's ministry of transport is issuing a USD 1.1 billion tender for the construction of a new port, as the energy-rich former Soviet republic looks to become a major trade h...
GOL plans service to the USA The Brazilian airline GOL has submitted a route right request to the country's National Civil Aviation Agency (ANAC) to operate a São Paulo (Brazil) to Miami Fl service, its f...
Qatar Airways starts daily flights to Rwanda Served from today on (21 March), Kigali is the third destination launched by the Qatar Airways so far this year and its latest to the African continent. In February, the airline ...
InterRail subsidiary RailService acquires UralRail RailService Ltd, a Moscow-based subsidiary of the Swiss InterRail Group, has acquired the rolling stock owner UralRail, likewise located in Moscow. UralRail, which was founded in 1...
Ceva France gets new CEO The international logistics service provider Ceva has chosen Franck Chevret to manage its logistics and freight activities in France. He reports to the CEO of northern Europe, Leig...
An additional managing director for Polzug Intermodal The German intermodal service provider Polzug is getting an additional managing director in the shape of Peter Plewa. In his last position he was managing director of HHLA Intermod...
Geisseler Transport AG facing bankruptcy Geisseler Transport AG, headquartered in Pratteln near Basel (Switzerland), has had to report insolvency and is facing closure. The plan to turn the firm around has failed despite ...
BabyCare selects Menlo Worldwide China for distribution and warehouse management Menlo Worldwide Logistics (China), the global logistics subsidiary of the US company Con-way Inc, will handle the North China distribution and warehouse management for BabyCare Inc...
WCA family week conference sets new record The 2012 WCA family week conference set a new record when over 2,150 freight forwarders descended on the Centara Grand and Bangkok Convention Centre between 4 and 11 March. The
US eases oil import penalties ELEVEN countries have been exempted for 180 days from penalties imposed by the US as a result of reducing their oil imports from Iran
HHI wins OSC LNG carrier OMAN Shipping Co has announced that it has placed a new order at South Korean shipbuilder Hyundai HI for an LNG carrier
DHT pays 'steep price' SHARES of NYSE-listed tanker owner DHT plunged 26% yesterday following its announcement of a highly discounted equity sale
Scrubber equation uncertain AN owner's decision on whether to install an emissions scrubber is inherently complicated by unknown variables, explained Interntanko deputy MD Katharina Stanzel
Drybulk demand growth seen to accelerate 2013 Tonne-mile demand in drybulk shipping should accelerate markedly next year, lifted by strong iron ore exports from Brazil and Australia, which should also lead to a better fleet utilisation rate of the fleet in 2013, a shipping analyst says
Supply-demand fundamentals halt VLCC rally THE week-long rise in VLCC rates retreated yesterday as charterers resisted owners' demand for higher rates
Oz drybulk congestion rises BAD weather has reversed the easing snarls in Australian drybulk ports
Drybulk 'eco design effect' looms IF next-generation, fuel-efficient bulkers meet promised specifications, a new wave of orders could ensue despite overcapacity
Maersk halts Far East bookings Maersk Line informed its European export customers yesterday that it will not accept further bookings to the Far East for now
APM prepares for 22,000teu ships A senior APM Terminals executive has called on terminal operators to start getting themselves ready to accommodate 22,000teu container carriers
Skaugen plans $60M bonds issue I.M. Skaugen, the listed Norwegian LPG carrier and lighterage tanker operator, says it is planning a bond issue of at least NK350M ($60M), five weeks after it raised NK400M on the Oslo market
Ust Luga gains 6% box discount UST LUGA'S brand-new container terminal won a government handout this week in its bid to attract container volumes away from St Petersburg port
BLT renegotiating charter rates EMBATTLED Indonesian chemical shipping specialist PT Berlian Laju Tanker is renegotiating charter rates for its existing chartered-in tonnage, Fairplay has learnt
LNG challenges persist in SE Asia DEMAND for liquefied natural gas as fuel may be growing in southeast Asia, but the sub-region still faces production and storage challenges, an industry roundtable in Singapore heard
More box ships on Asia-EC South America THE Asia-EC South America route has seen substantial box ship deployment over the past two years, said Braemar Seascope
D.A. Landis Pleads Guilty to Driver Log Fraud The owner of a Pennsylvania trucking company who pushed drivers to violate hours of service limits could spend years in...
APM Terminals Says Ports Must Prepare for Giant Ships APM Terminals said ports must start to draw up plans now to handle the future generation of giant container ships...
Senate Democrats Blast House GOP Transport Extension Democratic Senate leaders, along with Department of Transportation Secretary Ray LaHood, urged House Republicans to adopt their two-year transport bill...
Lufthansa Cargo Doubles Detroit Flights, Adds China Services Lufthansa Cargo is adding three new destinations in China and ramping up its recently launched freighter service to Detroit in...
Kemmsies Discusses Economic Case for Infrastructure (Video) Moffatt & Nichol Chief Economist Walter Kemmsies discusses the need for U.S. transportation infrastructure investment. He spoke at the annual...
NAFTA Trade Value Hit Record High in 2011 The value of surface transportation trade between the United States and its North American Free Trade Agreement partners Canada and...
XPO Logistics Raises $137 Million in Stock Offering XPO Logistics raised $136.7 million through a public stock offering, exceeding its initial expectations as it secured funds for acquisitions...
Jaguar Land Rover to Make Cars with Chery in China Jaguar Land Rover, a unit of India's Tata Motors, is forming a joint venture with Chery Automobile of China to...
NYSA's Curto Responds to Waterfront Commission Report Inefficient work and pay practices criticized by the Waterfront Commission should be addressed "at the bargaining table - not publicly...
Hapag-Lloyd Posts $38.3 Million Net Loss Hapag-Lloyd swung to a net loss of $38.3 million in 2011 from a $565 million profit in 2010. But...
Waterfront Commission Blasts NY-NJ Port Job Practices Hiring and work practices at the Port of New York and New Jersey breed inefficiency, favor "a privileged few," and...
Trans-Pacific Spot Rates Stay Steady Spot rates on the trans-Pacific trade stayed flat week-over-week this week after a 13.6 percent jump last week that followed...
Hanjin, Cosco to Start Far East to Houston Loop Hanjin Shipping and Cosco Container Lines plan to launch a new service between the Far East, Panama and Houston at...
Second batch of gantry cranes received at TERCAT The Hutchison Port Holdings Group, Terminal Catalunya [TERCAT], Muelle Prat Terminal, Barcelona took delivery of the second batch of four super post-panamax quay ...
US food shippers group slams carrier customer service Bob Weiss, independent administrator of the Food Shippers Association of North America (FSANA) has hit out at the 'decline' in ocean carriers' customer service ...
Asia-Europe tradelane soaks up surplus tonnage According to the shipbroker Braemar Seascope, the Asia-Europe tradelane soaked up a massive 56% of the 2.6 million TEU of new boxship capacity delivered over the ...
BIFA's budget hopes When the UK Chancellor, George Osborne stands up in the House of Commons this afternoon to deliver his Budget speech the British International Freight Association ...
COSCON and Hanjin launch all-water service Members of CKYH Alliance - COSCON and Hanjin Shipping - have announced that they will be launching a new service in the Far East -Gulf of Mexico trade effective ...
Ban on ransom payments a mistake: InterManager president The proposal from the recent London conference on Somalia to make the payment of ransoms to pirates holding merchant ships illegal would be 'massively detrimental ...
Rena: salvage work continues
Oakland welcomes the biggest Moving up the California coastline and with two pilots guiding it onto its mooring at the International Container Terminal, the 12,560 TEU MSC Fabiola makes its ...
Reardon replies to million-dollar puzzler ConocoPhillips insider says crude market may have bottomed but timing of tanker upturn remains to be seen.
Maitland issues battle cry Outspoken industry veteran says Marad shake-up and commitment to Kings Point cadets is key to the revitalisation of US flag.
Efficiency debate plagues Ploughman Seanergy chief says fuel efficiency drive during market downturn poses threat to ships, seafarers and owners.
D'Amico adds to MR fleet Italian owner says it has snapped up High Prosperity at bargain price after chartering it in for six years.
Raoust calls time on size wars VLOC white elephants, question marks about Maersk's triple-e ships and the Costa Concordia tragedy all indicate a scale threshold has been reached, BRS boss says.
Lorentzen intrigued by LNG Seacor CEO says scorching sector looks promising but investments in dry supply chain may be more compelling.
STX OSV 'no longer cheap' Analyst warns investors in SGX-listed yard to tread carefully as European finance issues remain.
CNCo inks handysize quartet Swire group company heads to China's Chengxi Shipyard for 39,500-dwt series of "eco" bulkers.
ICAP endorses LR2 playbook Top researcher says product tanker market needs to turn the page in order to cash in on burgeoning long-haul trade.
Creditors fear Chapter 11 chaos Seward & Kissel says some ailing owners are using bankruptcy as a "sword and shield" when restructuring talks sour.
Genmar wins more time Tanker owner has been given an extra couple of months to firm up details of its escape from Chapter 11 bankruptcy.
Hapag-Lloyd back in the red German container line hails "excellent" result compared to rivals, despite 34% jump in fuel costs pushing it to loss in 2011.
Stolt Valor fire contained Stolt-Nielsen tanker under tow off Qatar following blast, but declared CTL.
Cash crunch clogs pipeline Belt-tightening at European banks proves problematic for owners, cash buyers and recycling markets alike, GMS says.
Oivind Lorentzen uncensored Oivind Lorentzen dishes about dynasty, downturns and the next generation as TradeWinds tours his Connecticut estate.
Morgan Stanley's LNG storybook Fotis Giannakoulis bullish on LNG market as tonnage shortage and Sabine Pass pave the way for profits and expansion.
Container sector seeing 'a clear upward trend' 'Price war' coming to an end, says CEO of Hapag-Lloyd.
New study offers different perspective on ECA challenges Exclusive study finds that the situation is 'a game of poker', as shipowners, fuel providers and technology companies adopt the wait and see approach.
Multi-million dollar fuel-saving technology obsolete due to slow steaming Emma Maersk class vessels operating significantly below design speeds unable to benefit from waste heat recovery systems.
North European markets lack direction Strike in Piraeus ends.
Bunker prices firming in Middle East and South Africa Good demand in Fujairah.
Russian Navy ignores bunker spill costs Embassy official says spill caused 'no harm to the environment of Ireland.'
Study predicts adverse MBM impacts on India Increase in bunker prices could hurt trade and economic growth and lead to unfair burden on Indian consumers.
'Oil belt' seen in the water near grounded ship Chinese authorities say no new leaks detected.
First phase of Fujairah terminal project 'on track' September remains completion date, says Gulf Petrochem Group CEO.
Bunker prices lack direction in Asia Traders divided over levels of demand.
Multi-party collaboration needed to seize LNG opportunities Increasing demand for LNG to drive offshore marine growth throughout Asia, says industry experts.
South China fuel oil imports down 4% in March Bonded bunker suppliers scheduled to receive fuel oil imports in the second half of March.
Bunker suppliers urged to act 'promptly' in enforcing claims Bunker suppliers among those that are in 'potentially better position' to recover monies owed to them in an event of a winding up, says lawyer.
Use of scrubbers 'the answer' to shipping's future Scrubbers offers 'potential long term economic advantages' to shipowners, if they can be proved to work effectively.
Aegean renames Verbeke Bunkering New corporate identity to reflect position as a 'leading physical supplier' in North-West Europe.
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