|AUGUST 1, 2013|
- Hapag-Lloyd hikes transpacific rate US$400 - $600/FEU September 1
- Hutchison Port Trust profit off 25.9pc to US$54.8 million, sales off 2.6pc
- CSCL, Zim enhance Asia-Europe service with new calls, adds bigger ships
- 'K' Line back in black, suffers slow US recovery, EU slump continues
- NYK back in black, suffers slow US recovery, EU slump darkens prospects
- China H1 cargo up 9.6pc to 20.8 billion tonnes, but 2pc off 2012 H1 growth
- Ships warned to avoid construction works at Hong Kong's Tseung Kwan O
- Sinolines takes delivery of first of two 1,100 TEUers by Sinotrans yard
- Costamare jointly acquires 3 box ships with York Capital Management
- Slot buyer MCC Transport to add ship to CMA CGM Straits-Myanmar loop
- Maersk shares slots with Cosco, ANL on joint China-Australia service
- Dorset harbour seeks bids to build US$1.53 million shiprepair yard
- Puerto Rico launches bill to ease US-built ship Jones Act provision
- World air cargo market grew 1.2pc in June, Asia Pacific down 1.8pc
- Norfolk Virginia airport wonders why air freight fell 28pc in June
- Northern China's Shijiazhuang city offers air cargo flights to Incheon
|JULY 31, 2013|
- DP World Nhava Sheva wins Golden Peacock Award for "Eco Innovation" in India
- Gujarat Pipavav Port net profit up 124 pc in April-June quarter
- Kandla Port outlines plans for mega box terminal at Tuna-Tekra
- New tariff guidelines for Major Ports announced
- Shenzhen projected to emerge as world s third largest container port
- Railways expects INR 1 lakh cr. investment in PPP projects
- BHEL bags orders worth 132 cr. from NTPC
- Centre reduces withholding tax on infra bonds to boost foreign investment in sector
- CII submits 62 stalled infra projects to fast track panel
- Moody's reports gloomy India outlook
|JULY 31, 2013|
- UANI turns its attention to Italy's Ignazio Messina
- Seadrill orders two more jack-ups at Chinese yard
- Gibdock completes drydocking contract for Technip
- Wärtsilä hosts maritime academy cadets in Trieste
- SEACOR results back in black
- Tognum expands South Carolina MTU R&D center
- Ministry: Polish shipbuilding can be profitable
- ABS releases new guidance on offshore structures
- Signet Maritime takes delivery of ASD tug
|JULY 31, 2013|
- Co-lead agencies eye EIS for Cherry Point projects
- "K" Line adding subsidiary covering RO/RO business
- Port of Olympia sponsoring micro-brewery showcase event
- Port of Tacoma taps Stoker as operations center head
- ZIM Integrated Shipping Services joins Clean Cargo Working Group
|JULY 31, 2013|
- First Ship Lease Trust confirms an extension of relaxation of loan covenants
Singapore-listed shipping trust resumes trading
- Rongsheng introduces new shareholder via $181m convertible bond issuance
Yard lands fresh aid to ease financial strain.
- Capital Product boosts profits in second quarter
Greece-based owner received $32m for OSG claim pending final court decision
- D'Amico surfs product tanker boom to land its first profit in four years
Tonnage sales boost the bottom line as owner places timely medium range orders
- Illegal bunkering exposes ships to hijacking risk
Ship operators beware unsolicited West Africa emails
- Tight-lipped Top Ships sails back into profit
Pistiolis pledges to look forwards after a long, hard recovery drive
- 'Pyrrhic victory' for courts as 14 Dr Peters KGs declared insolvent
Company claims legal rulings prevent orderly liquidation
- Costamare adds $50m to warchest
Greece-based owner amasses cash for acquisitions and investments
- Congestion hits Big Apple's terminals
Labour and construction problems bring bottlenecks to New York and New Jersey
- Transpacific headhaul box rates gain 10%
Shippers pay more as peak-season surcharges kick in
- Beijing axes some shipping administration fees
China aims to reform government structure and ease burden of payments
- STX Offshore & Shipbuilding receives $1.9bn lifeline funding
Creditors agree a 'normalisation of management plan'
- Sumitomo Heavy Industries reports $10m shipbuilding operating loss
Sales drop as orders remain sluggish
- Japan bounces back
Diversification is paying off for Japan's three major shipping lines
- Chinese slowdown means no peak season for north range box ports
Global Port Tracker sees growth concentrated in the Mediterranean
- DP World reports falling first-half box volumes
The slump is concentrated in Europe, the Middle East and Africa
- Shipbuilding units boost Japan giants
Industrial conglomerates soldier on after failed merger talks
- MHI shipbuilding unit returns to profit
Weaker yen and stronger margins boost Japanese yard
- NYK makes stronger first-quarter showing
Japanese owner raises profit expectation for 2013 to $307m
- K Line reports $70m profits
Group doubles dry bulk income but container business breaks even
- MOL reports $147m first-quarter net income
Dry bulk and tanker performance improves but boxships are still in the red
|JULY 31, 2013|
- Genco losses surge
PETER Georgiopoulos-chaired Genco today reported much higher quarterly losses as drybulk spot rates continued to plummet
- NCL sponsors cashing in
APOLLO, Genting HK and TPG are selling part of their NCL stakes after the cruise line's highly successful IPO and subsequent share appreciation
- Costamare pricing succeeds
NYSE-listed Costamare has succeeded in pricing its public offering of perpetual preferred shares
- Teekay LNG raises $40M via private buyer
PETER Evensen-led Teekay LNG has raised $40M via a private placement to finance two recent newbuilding orders
- FMC backs ship sharing
VESSEL sharing agreements have gained recognition in the US as the key to ensuring box competition
- Novatek buy to boost LNG from Ust-Luga
NOVATEK, the independent Russian gas producer, has bought a Polish supplier of LPG with the aim of increasing gas cargoes from Ust-Luga's port
- Scorpio prices yet another follow-on
NYSE-listed Scorpio Tankers today priced the latest in a long string of share offerings, raising cash for acquisitions
- CPP books OSG claim gain
NASDAQ-listed Capital Product Partners today posted improved results following its box-sector entry and new details on its OSG claim sale
- ECSA urges Gulf of Guinea EU piracy patrols
EUROPE'S shipowners today urged the EU to set up an anti-piracy force off West Africa
- Turnaround hailed by Luxembourg's d'Amico
MILAN-listed d'Amico International has reported a strong recovery in 2Q13 and 1H13 interims and said its outlook remains encouraging
- Dorian shares placed on Oslo's OTC list
SHARES in Dorian LPG of Greece have been admitted for trading on the Oslo Stock Exchange's over-the-counter list, after completion of an IPO by the company
- IKK profits rocket 4,850%
JAPANESE carrier Iino Kaiun Kaisha said today net profits for the 2013 fiscal year's first quarter were ¥2.18Bn ($22.3M), a 4,850% increase from the '44M year on year
- MPP tonnage auctioned
VESSEL financier Unicredit has auctioned a batch of small multipurpose and general cargo vessels that it had seized in Rotterdam
- STX O&S signs restructuring MoU with banks
STX Offshore & Shipbuilding said today that it has signed a memorandum of understanding with creditor banks
- China vehicle exports rise to South America
CHINA's vehicle exports to South American countries soared in 1H13, with the exports to Chile, Colombia and Brazil up 58%, 86% and 94% year on year, respectively
|JULY 31, 2013|
- Japan Airlines' Profit Nosedives
Japan Airlines Corp. (JAL) said on July 31 that its net profit tumbled 31.9 percent in the first quarter of fiscal 2013, which started on April 1, from a year earlier, to 18.337 billion yen ($187.11 million) on a consolidated basis. JAL's group revenue from overall operations rose 2.6 percent in...
- Growth of Japanese Imports Accelerates
Japan's imports and exports through June 2013; year-over-year change Full-size image The value of Japan's imports increased 11.8 percent year-over-year June 2013, according to Japan's Ministry of Finance. This was the highest growth rate in four months; import value has increased for the past eight consecutive months. Japanese imports were valued at 6.243...
- Forward Air to Open Distribution Facility at Port San Antonio
Forward Air Solutions is preparing to occupy an 89,600-square-foot distribution facility at Port San Antonio's industrial airport, Kelly Field, later this year. The facility at the Texas airport, which can be accessed by truck and cargo aircraft, allows Forward Air Solutions, the Tennessee-based logistics subsidiary of Forward Air Corp., to store...
- Nick Hannigan Promoted to Vice President, Corporate Development, at Echo Global Logistics
CHICAGO, IL -- (Marketwired) -- 07/31/13 -- Echo Global Logistics, Inc. (NASDAQ: ECHO), a leading provider of technology-enabled transportation and supply chain management services, announced today the promotion of Nick Hannigan to the role of Vice President, Corporate Development. In his new role, Mr. Hannigan will work closely with the executive team to develop and execute strategic acquisitions and...
- 'Month of Troubles' for Oakland Harbor Truckers
Port of Oakland executives are stepping up their efforts to reduce the congestion at marine terminals that has made life miserable for harbor truckers during much of July. "We are working closely with the terminals to improve cargo flow," said Jean Banker, the port's deputy executive director. Banker stated bluntly that...
- Grupo TMM Posts Net Loss for Second Quarter
Grupo TMM reported a net loss of 235.1 million Mexican pesos (about US$18.3 million) in the second quarter of 2013, compared with a net loss of 218.4 million pesos in the second quarter of 2012. In the first six months of 2013, the Mexican intermodal transportation and logistics company reported a...
- BestTransport Names Dolan President, CEO
Mike Dolan, BestTransport's new president and CEO.BestTransport has appointed Mike Dolan as president and CEO. Dolan, the former chief operating officer at Kewill, will be responsible for the development, positioning and ultimate success of the cloud-based transportation management solutions provider. In addition to his role at Kewill, where he was responsible for...
- CAI International Reports Record Quarterly Revenue
CAI International reported its profit in the second quarter of 2013 was $16.9 million, increasing 12 percent from $15.1 million in the second quarter of 2012. Total revenue for the intermodal freight container lessor in the second quarter was a record $53.0 million, jumping 33 percent from $38.7 million in the...
- Austrian Post Completes Acquisition of 25 Percent Stake in Aras Kargo
Austrian Post has completed the acquisition of a 25 percent share in Aras Kargo, a Turkish parcel service provider, following anti-trust approval. Twenty percent of the shares were purchased from the publicly traded Turkish private equity company Is Private Equity, and a 5 percent stake was purchased from the Aras family,...
- MOL Swings to Black
MOL PrestigeMitsui O.S.K. Lines reported its net income in the first quarter of fiscal year 2013, ending June 30, 2013, was 14.5 million Japanese yen (about US$147.5 million), compared with a net loss of 5.0 million yen in the first quarter of fiscal year 2012, which ended June 30, 2012. Quarterly...
- THUD Amendment Targets New Driver Hours of Service Rules
The latest changes to the truck driver hours of service rules are being challenged by a congressman from New York. Rep. Richard Hanna, a Republican who represents the mid-state 22nd district, is expected to introduce an amendment to the Transportation, Housing and Urban Development bill that would block changes to...
- Building the Business Case for Trade Compliance Automation
While many organizations see trade compliance as a cost of doing business, automating compliance can actually result in a potential source of revenue. In fact, companies that automated their trade compliance program can realize productivity savings of up to 90%. Amber Road's white paper, The ROI of Automating Trade Compliance,...
- First Hungarian Terminal Joins InlandLinks
Budapest Intermodal Logistics Center Kombiterminál, an intermodal logistics center in Hungary, has joined InlandLinks, representing the first Hungarian terminal to join the online network. InlandLinks is a platform for container terminals in the hinterland, offering intermodal services to and from the Port of Rotterdam in the Netherlands. The network now comprises...
- Drewry Trans-Pacific Benchmark Rate Rises $200
Drewry Container Rate Benchmark, July 31, 2013 Full-size image Average eastbound spot rates on the trans-Pacific soared $200 per 40-foot-equivalent unit this week, one day ahead of a planned August 1 rate increase. This indicates carriers have achieved approximately half of the peak-season surcharge of $400 per FEU proposed by the Transpacific...
- Bader: Truckers Not Culprits in NY-NJ Delays
This summer's delays at the Port of New York and New Jersey have resulted from labor shortages and low productivity at container terminals, not from a shortage of trucking capacity, a leader in the port drayage community said. Jeff Bader, president of the Association of Bi-State Motor Carriers and of Golden...
- 'K' Line's Profit, Revenue Rose in Second Quarter
"K" Line reported its profit in the first quarter of fiscal year 2013, ending June 30, 2013, was 6.9 million Japanese yen (about US$70.8 million), up from a net loss of 674 million yen in the first quarter of fiscal year 2012, ending June 30, 2012. Revenue in the first quarter...
- Experts See Peak Season as More of a 'Bump'
The peak shipping season this fall should be uneventful, with only a modest increase in cargo volume, a temporary spike in freight rates and no real shortages of transportation capacity or equipment to disrupt the supply chain, according to industry experts who spoke at a Journal of Commerce webcast Tuesday. In...
|JULY 31, 2013|
- ISC gains ground
International Shipholding Corp (ISC) has reported improved net income in the second quarter but has seen dry-bulk prospects pull back its operational earnings outlook.
- Genco losses balloon
Peter Georgiopoulos-led Genco Shipping & Trading reported sharply higher losses in the second quarter but the deficit was only slightly bigger than expected on Wall Street.
- Dorian LPG seals listing
Dorian LPG has completed its over-the-counter listing in Oslo after wrapping up a private placement in which it raised roughly $168m.
- All eyes on Ardmore
All eyes were on Ardmore Shipping Wednesday as the Irish product and chemical tanker operator closed in on a New York listing.
- Exmar LPG goes all in
A joint venture between Exmar and Teekay LNG Partners has firmed up an order to construct another pair of midsized gas carriers.
- Gard v Sinochart
- Capesize cheerleader
ICAP has flipped the script on the capesize market suggesting it is now in a win-win position.
- Rongsheng goes for more
Cash-strapped China Rongsheng Heavy Industries is raising close to $180m from the sale of convertible bonds.
- Fesco falters
Slimmed-down Russian container line Fesco has posted a substantial drop in earnings for the first six months.
- Fiori: "no resales"
d'Amico International Shipping is looking to sell its oldest ship but it will not be parted with any of its eco newbuildings despite hefty price climbs since the deals were placed, its CEO says.
- OSG cash boosts Capital
Evangelos Marinakis-backed Capital Product Partners has turned in a hugely improved profit for the first half, lifted by selling a claim against bankrupt OSG.
- SCI dumps AHTS
Shipping Corp of India has confirmed the sale of an ageing offshore support vessel.
- STX gets $2bn lifeline
Creditors of STX Offshore & Shipbuilding have finalised a deal to pump fresh liquidity into the troubled Korean outfit.
- Strike three for DIS
d'Amico International has posted its third successive quarterly gain to help it to a profitable opening half for the first time since 2009.
- Global Carriers slumps
Global Carriers of Malaysia dived to a loss in the second quarter as revenue collapsed.
- Seaway owes $12m
Bankrupt Canadian shipyard Seaway Marine and Industrial owes more than CAD 12m ($11.65m).
- Tankerska slides to loss
Croatian shipowner Tankerska Plovidba has fallen to a loss in the first half as revenue declined.
- Sanoyas lowers sights
Sanoyas Holdings has trimmed its full year profit forecast after seeing its bottom line come down in the first quarter.
- Azuma earnings chopped
Azuma Shipping has seen profit slashed by over a quarter in the first leg of the fiscal year.
- Cruise control scrapped
Taiwan is to allow international cruiseships to sail directly to China from next year.
- Meiji profit jumps
Japan's Meiji Shipping has reported soaring income in the first quarter of the year.
- DP volumes dip
Dubai ports group DP World has posted a 5.8% drop in cargo volumes in the first half.
- Scorpio's strike decoded
Scorpio Tankers' latest trip to the capital markets has laid the groundwork for hoovering of its VLGC options or the addition of an extra 11 product tankers, it is suggested.
- Bahri offloads another
Saudi state owner Bahri has sold the last-but-one of its veteran ro-ro cargoships as it renews its fleet.
- Bulk boost for K Line
A recovery in dry cargo rates has helped K Line back to profit in the first quarter and spurred hope for a stronger full year showing.
- Pipavav heads for London
Indian shipbuilder Pipavav Defence and Offshore Engineering is planning a London IPO to raise $150m.
- Kenya jails pirates
Nine Somali pirates have been jailed for five years for an attack on the German boxship Courier in 2009.
- MHI ekes out a profit
Mitsubishi Heavy Industries has managed to squeeze out a small operating profit at its shipbuilding division.
- NYK returns to profit
Fleet-wide slow-steaming, lower bunker prices and the stronger yen all combined to enable NYK to make a profitable start to fiscal 2013.
- MOL turns it around
Mitsui OSK Lines (MOL) has returned to profit in the first quarter helped by an improvement at its bulker and tanker division.
- TGP seals fresh $40m
Teekay LNG Partners has raised $40m to go towards two recently ordered LNG carrier newbuildings.
- Helix doubles up
Helix Energy Solutions Group is pushing ahead with plans to order a second semisubmersible well intervention vessel newbuilding.
- Bugbee stings Ardmore
The battle for investor attention, affection and - most important - dollars between established products-carrier owner Scorpio Tankers and debutante Ardmore Shipping has just gone nuclear, and it's Robert Bugbee who dropped the bomb.
- Seacor marches upward
Seacor Holdings saw its second quarter profits jump by 71.3% as offshore vessel earnings surged.
|JULY 31, 2013|
- U.S. Export-Import Bank pleads case
If support by the government for the U.S. Export-Import Bank isn't a priority, these opportunities will be left to the United States' competition, warned Fred P. Hochberg, the bank's chairman and president on Tuesday.
- Everett keeps Boeing 777 parts floating in
The port received a $1.5 million grant from Washington state to help complete the second phase of its roll-on/roll-off cargo facility, a dock-strengthening project which will allow it to accommodate the world's biggest ro-ro ships.
- Metro Ports handles wood pellets at Prince Rupert
- Vans save Sheetz restaurants on gas
- DSC Logistics to open Calif. warehouse
- Hapag-Lloyd tells customers to avoid NY port due to congestion
"We continue to work diligently with all marine terminals, rail service providers, partner lines, port authority, however, we do not expect normal service to be restored until approximately middle of September 2013," the carrier said.
- Big 3 Japanese carriers report profitable quarters
The three major Japanese shipping companies released profitable first quarters for the period ending June 30, compared to losses in the same period last year. All three ocean carriers have fiscal years that begin April 1.
- ABF extends voting deadline for contract supplements
- 2Q loss for XPO, but huge revenue growth
- Zim joins Clean Cargo Working Group
- Cargolux starts 747-8 service to Ho Chi Minh City
- Premier powers Ohio facility with solar
- Obama tax compromise for infrastructure risks roadblocks
- Kewill vet joins cloud TMS BestTransport
|JULY 31, 2013|
- Crude oil climbs, heading for biggest monthly gain since 2012
Prices rallied on news of an increasing US GDP and inventories at a major hub dropping to a 15-month low.
- Fujairah prices stay on mixed trend
Avails good in Durban.
- Prices soft in Rotterdam
Strong demand seen in Gibraltar.
- New player in US Gulf
Experienced staff behind new outfit.
- Ex-head of state oil company attacks fuel oil quality
Former MD of Pakistan State Oil Company says importers are operating 'cartel'.
- MOL returns to profit in first quarter
Softer bunker prices lift earnings.
- Brightoil storage contract expires in August
Sources say China Aviation Oil will takeover Singapore lease.
- EPA begins ECA checks on US suppliers
A handful of ports and suppliers targeted and subjected to first ever LSFO product tests.
- 'Gateway port' has little time to exploit LS bunker potential
Stornoway must act before 2020.
- Asian bunker prices resume stable trade
But price movements lacked clear direction.
- Japanese carrier drops fuel consumption, boosts profits
Slow-steaming in place across fleet.
- Seacor posts higher quarterly profits
Operating results for firm's harbour towing and bunkering divisions higher in Q2 2013.
- Gazpromneft move 'key' development for Romania
Gazpromneft has become one of the largest operators in the port of Constantza.
- Seaspan H1 profit quadruples
Company sees positive impact from larger, more fuel-efficient newbuildings, and orders more.
- Hambantota to offer LNG bunkering services
As part of 'Vision2020' strategic plan of Sri Lanka, says SLPA Chairman.
- Deltamarin design for Wallenius newbuilds
Two vessel contract carries option for two more.