Genmar finds benefactors and relief from lenders New investor supplies $200m of fresh equity
New romantics meet new money at ICAP shipping's charity bash Festive brokers ponder cash flooding shipping as stars raise funds for good causes
Sri Lanka bans terminal handling fees and surcharges Colombo responds to shippers' lobbying efforts
Sanctions, civil wars and shale gas cast a long shadow over Opec summit Observers ponder Iranian and Iraqi export prospects as oil ministers meet in Vienna
Taiwanese owner helps VLCC spot earnings revisit last week's highs Middle East-Asia fixtures top $50,000 per day
Zim talks to G6 about co-operating on the transpacific trades Israeli line could build on existing Grand Alliance partnership
Three more Offen boxships are declared insolvent UPDATE: founder confirms Niebäll district court has pulled the plug on KG vessels
China Rongsheng issues profit warning Revenue decreasing because of 'conservative sales strategy', yard claims
G6 Alliance could take 40% market share on the transatlantic UPDATED: shippers urge regulators to prevent two groups gaining a stranglehold
Shipping draws closer to fuel-consumption reporting Revealing bunker bills is the most popular first step to develop measures to cut CO2
Idle box fleet hits seven-month high Nearly 3% of the world's container capacity laid up ahead of winter low
Coscol heavylift vessel arrested in Singapore Legal representatives from Incisive Law seize 2011-built Da Cui Yun
Rena report shows New Zealand casualty response shortcomings Government pledges more resources for national maritime agency
Cosco Corp wins order for two bulkers State giant's shipbuilding unit signs $54m deal to build 64,000 dwt ships
Boxship order values on course for fourfold annual growth Clarksons predicts 2013 record after $19bn worth of contracts placed in first 10 months
Awilco LNG set to convert older tonnage into floating storage Decision responds to an influx of gas carrier newbuildings
Eitzen Chemical bank debt changes hands as company seeks new capital Tanker specialist working to raise equity and restructure $916m debts
STX Corp chief executive stands down as restructuring continues Choo steps aside as conglomerate seeks a deal for $317m debts
Navig8 Chemical Tankers books six more chemtankers Navig8 and Oaktree joint venture now has 18 vessels on order at Hyundai Mipo
Timor takes Australia to court Timor-Leste is taking Australia to court alleging it spied to gain commercial advantage during the 2004 negotiations for a A$40Bn ($36.4M) oil and gas deal on behalf of Woodside Petroleum
Gdansk yard delivers business plan The owner of Poland's historic shipyard of Gdansk has reportedly delivered a business plan for the troubled plant to the government-owned Industrial Development Agency (ARP) to offset fears of impending bankruptcy
ZIM in talks with G6 Zim Integrated Shipping Services is in talks with the G6 Alliance to expand its presence in the Asia-US Pacific Northwest trade, the Israeli box carrier revealed today
Sri Lanka prohibits THCs Sri Lankan government has asked shipping lines not to collect terminal handling charges (THCs) and other surcharges from January 2014, in response to long-standing demands by shippers
Panama Canal grain cargoes surge Dry bulkers are moving record grain volumes through the Panama Canal due largely to a high-yield US harvest
DFDS puts out fire on ro-ro A fire that broke out early this morning on board the ro-ro vessel Corona Seaways has been put out
NewLead jumps on 'eco' bandwagon Even the smallest public players are acquiring fuel-efficient newbuilds, with NewLead Holdings announcing its entry today
Cargotec raises €74m in equity Finland's marine cargo equipment handling maker Cargotec announced that it will raise €74M ($100.4M) gross by placing nearly 3M of its class B shares with selected domestic and international institutional investors
TransAtlantic shareholders take up 99% of rights issue Shareholders in Rederi AB TransAtlantic, the loss making listed Swedish shipping company, have subscribed for 99% of the shares the company offered via a rights issue
Eurotunnel delighted by Dover port ruling Channel tunnel operator Eurotunnel has said that it is "delighted" at the decision of Britain's Competition Appeal Tribunal to quash a previous ruling that banned French ferry operator MyFerryLink from the port of Dover
Gazprom loses LNG export monopoly President Vladimir Putin has signed Russia's new law eliminating Gazprom's seven-year monopoly on exports of LNG
K+N names new CFO Leading ocean freight forwarder Kuehne + Nagel has named a successor for its chief financial officer Gerard van Kesteren who will retire in summer 2014
Freight Volumes Stronger than Expected for ODFL Trucking demand was stronger this fall than Old Dominion Freight Line expected, pushing up tonnage and revenue, the less-than-truckload carrier said Tuesday. The gains reported by the Thomasville, N.C.-based trucker may indicate the U.S. economic recovery is gaining some speed and traction in the fourth quarter. The tonnage ODFL handled per day...
NY-NJ Port Plans Performance Task Force The Port Authority of New York and New Jersey is organizing a Port Performance Task Force comprising a cross-section of industry representatives who will recommend ways to make the port run more smoothly. The impetus for the new group was last summer's operational delays, which resulted from a combination of computer...
US Intermodal Rates Tumble as Peak Season Ends Top 36 lane index, week of Dec. 2, 2013 Full-size image An index of U.S. intermodal rates fell more than $100 in the week ending Dec. 2, as all four directional indices decreased. The overall index rate of the top 36 U.S. lanes was down 5.1 percent, or $108, at $2,019, according...
Rep. Blumenauer Introduces Bill to Double Federal Gas Tax Rep. Earl Blumenauer, D-Ore., this week introduced a bill that would double the federal gas tax and another to push the federal government to look further into raising highway construction funds on the basis of how far trucks travel. The introduction of the two bills comes as Congress grapples with the...
Universal Truckload Services to Acquire Westport Axle Universal Truckload Services will acquire Westport Axle from a Brazil-based industrial group, gaining new inroads into truck manufacturing and access to more industrial freight. Universal, No. 26 on JOC's ranking of the Top 50 Trucking Companies, plans to acquire Westport, a warehousing and distribution trucking company owned by SM Brasil Participações,...
West Coast Volumes Down Year-Over-Year in October Container traffic at West Coast ports declined 3 percent in October compared to the same month last year. Imports were down 4 percent and exports dropped 2 percent. October 2012 was somewhat of an anomaly, though, as contract negotiations between East Coast employers and the International Longshoremen's Association had broken down...
Indian Regulator Again Delays Nehru Port Rate Hike India's port regulator Tariff Authority for Major Ports has again deferred its decision on a proposal to increase service rates at the Port of Jawaharlal Nehru until Dec. 31, citing "continuing delays" in procedural requirements that are to be complied with by the port authority. "Recognizing that Jawaharlal Nehru Port Trust has...
China PMI Indicates Expansion, But New Orders Fall China's official PMI indicated expansion during November, but the new orders sub-index lost ground and there are signs that GDP growth rates will slow this quarter, according to analysts. The official November PMI was unchanged from October at 51.4, with a score of above 50 indicating growth. The output and finished goods...
Cathay wins judge's OK A US federal judge has given Cathay United Bank the green light to preserve a freeze on a plot of property owned by Taiwan shipowner Today Makes Tomorrow (TMT).
ISC stacks the shelf International Shipholding Corp of the US has laid the foundation for more Wall Street fundraisers.
Petredec hires VLGC Qatar Shipping Company appears to have secured employment for one of its very large gas carriers (VLGCs).
Cota loses lawsuit bid The pilot at the helm of the Cosco Busan when it hit a bridge off San Francisco has lost a legal fight to re-obtain his merchant mariner credential.
Blue Sea pens China PSVs Low-profile Norwegian offshore shipowner Blue Sea Group is thought to be behind the contract for two platform-supply vessels (PSVs) that were revealed to be on order in China after Rolls-Royce announced its part in the deal.
Severnaya raided Officers from the Russian Investigative Committee (RIC) in St Petersburg have searched the offices of Severnaya Verf shipyard as part of a fraud probe.
Boa banks NOK 500m Boa Offshore has completed a refinancing trip to the Norwegian bond market.
WBULK a 'dividend machine' Predictions for a steep rise in profit and a strong dividend have led Pareto Securities to begin coverage of Western Bulk with a buy rating.
Clearlake takes Diana cape Diana Shipping has confirmed a fixture for a capesize vessel at the centre of a long-running charter dispute.
Varun buys more time India's Varun Shipping has clinched new funding that will pay back-wages to crew and allow it to drydock ships.
Double trouble for DFDS Firefighters have tackled a blaze on a second DFDS ro-ro in a little over two weeks.
NewLead adds handysize Fresh from a new debt deal, Greece's NewLead Holdings has made its move into the eco-arena with a handysize purchase.
Dover ban delayed The UK's competition appeal tribunal has temporarily overturned a ruling banning French operator MyFerryLink from the port of Dover.
Miracle rescue revealed Amazing video footage from a diver's helmet has shown the moment the hand of a sunken tug's cook reaches out to his rescuer after 72 hours trapped underwater.
Swissco back for more Fast expanding Swissco Holdings is adding three more offshore support vessel newbuildings to its fleet.
NCL owners in the money Three investors in Nasdaq-listed Norwegian Cruise Line Holdings are set to bank up to $841m after pricing a public stock offering.
Two more for Cosco Cosco Corp (Singapore) continues to build on its bulker orders with the addition of two more ultramaxes.
Rongsheng warns of loss Shipbuilder China Rongsheng Heavy Industries has warned investors it faces a "substantial" loss for 2013.
Royal seals funds Royal Caribbean Cruises has wrapped up financing for its third Quantum-class newbuilding on order at Meyer Werft shipyard.
Capital likes BW LPG US investor Capital Group has emerged as a significant shareholder in recently listed BW LPG, it emerged Wednesday.
Panama's grain gain The volume of grain being shipped through the Panama Canal has reached its highest level for two years.
Cosco confident of profit Giant shipowner China Cosco Holdings Co (CCHC) believes it has done enough to save its stock listing after clinching two vital asset disposals.
France okays guards France will finally allow security guards on its ships to boost anti-piracy efforts.
SDLP plans share sale Seadrill Partners (SDLP), the Seadrill MLP spin-off, is looking to sell an initial 12.9m shares to fund acquisitions.
New chief for MPA Andrew Tan Kok has been named as the new chief executive of Singapore's Maritime and Port Authority (MPA).
Cosco ship arrested A Cosco Shipping (Coscol) operated general cargo vessel has been arrested in Singapore court documents show.
Truck carrying radioactive waste stolen in Mexico A truck carrying radioactive waste from a hospital in Tijuana, Mexico, to a waste storage center has been stolen, according to the International Atomic Energy Agency. The truck was stolen in Tepojaco, near Mexico City.
Transportation industry pretty social
JAXPORT set to handle big project cargo The Port of Jacksonville said $12.4 million has been spent over the past 18 months improving the heavy lift cargo berth at JAXPORT's Blount Island Marine Terminal. The project more than doubled the capability of JAXPORT's Berth 31.
Metzler to lead marketing for uShip
Descartes reports higher revenues Descartes Systems Group said it had a profit of $2.2 million in the third quarter, but said net income was negatively impacted by $600,000 by the integration of KSD Software Norway, a company it acquired in 2012.
NYSA fires back at Waterfront Commission
Hapag-Lloyd expands Caribbean service
Redwood City port considers carbon black plant The plant will produce about 180 metric tons per year, which will be packaged into large sacks and loaded on to trucks (25 truck trips annually) for shipment to customers, according to the port.
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