CSAV volumes and rates both rise Carrier's container rate index climbs to 1918.4 versus its benchmark figure of 2,000
Q&A: Shanghai Municipal People's Government World's largest container port faces up to shortcomings and challenges
Platform supply vessels are safe bet Good offshore prospects raises demand for PSVs
Shanghai admits shortcomings Officials admit port city must try harder to become a world-class maritime service hub
World Fleet Update: Back on the right track March saw a return to fleet growth as ocean carriers took delivery of many new ships. The first of Maersk Line's 18,000 teu Triple E-class series is due in June
Asia-Latin America trades absorb bigger boxships North-south trades hold key to industry's future
Varun aframax arrested in Singapore Heidmar tanker pool vessel Amba Bhargavi held since April 29
Cosco Corp profits fall 65% Downturn shrinks revenue flow from shipyards
Trade Statistics: Stuck in the slow lane MDS Transmodal's focus this month is on Asia's main trades, notably those to/ from North America and Europe which account for 12% of global box traffic
STX ponders pull-out from Europe Cash-strapped South Korea conglomerate could sell its overseas assets
Shipper Sentiment survey: Asia Ocean carriers' scores have shifted dramatically. Meanwhile, Asian shippers' concerns include voided sailings and capacity constraints
MOL and PIL collaborate between Asia and East Africa Weekly Indian Ocean Islands Express service to be launched
Freight Forecaster: Labour dispute resolution boosts Asia-USEC trades Containerisation International's research predicts load factors picking up from their low point of 75% in first quarter 2013 to 82% and 95% in the second and third quarter periods, respectively
Cancellations fail to halt rate slide Prices fall as low as $725 per teu on Asia-northern Europe trade
HHI returns to the black in first quarter South Korean shipbuilding giant tipped to win CSCL deal to build five 18,000 teu vessels
Seacor orders up to five gas carriers from Hyundai Newbuildings will join Dorian Hellas pool
Fleet Quarterly: The chasm widens Top carriers marginally increased their share of the fleet in first quarter 2013 and this is expected to continue throughout the rest of the year. Containerisation International reviews the latest numbers
Capesize crusaders DVB outlines a no-win scenario for market prospects
Charter Market: A corner has been turned Containerisation International notes that the long decline in charter rates was halted in first quarter 2013, but this does not mean an end to the industry's problems
Sentiment over ultra-large boxship orders is hitting rates, says Drewry Yet-to-be-delivered tonnage hinders efforts to balance supply and demand
Six HSH executives face trial for embezzlement Former chief executives Nonnenmacher and Berger in the dock in July
Cambie resigns as OOIL chief financial officer Tung named temporary replacement from June
ACL seeks replacement for damaged Atlantic Cartier Ship to be repaired after fire on car deck
Tsakos raises $50m in preferred stock issue Proceeds from non-dilutive issue believed to be earmarked for LNG construction
Box Leasing Rates: Bumping along the bottom The first quarter of 2013 saw lease rates slip again, but lessors expect a pick up later in the year. However, any recovery in per diem rates in 2013 will be modest. Containerisation International reports
Ceva completes recapitalisation Logistics firm raises investment cash and halves its net debt and annual interest costs
TMT challenges F Elephant arrest Bulk carrier faces sale at auction on Monday
BLG to buy Lloyd Werft shareholding GERMANY'S Bremen state said today it is selling a 13.16% shareholding in Bremerhaven's Lloyd Werft to port group BLG Logistic
Sabine LNG construction runs ahead of schedule CONSTRUCTION is ahead of schedule on the first two trains of the Sabine Pass LNG export project, Cheniere Energy confirmed today
Capesize slump seen extending to 2015 ASSET values and earnings in the capesize bulk carrier sector are "expected to continue trending lower until at least 2014", German transport financier DVB Bank said today
Rickmers-Linie adds 10th ship to round-the-world service PROJECT shipping line Rickmers-Linie is increasing capacity in east/west trades with the addition of a 10th vessel to its eastbound round-the-world service
COSCO (Dalian) Shipyard's conversion contract effective COSCO (Dalian) Shipyard said today its contract is effective with Japan's Modec to convert the VLCC Alga into an FPSO
SMM sees 'intense' competition SEMBCORP Marine said today competition across diverse business segments such as rig building and ship repairs is "intense", knocking the yard's margins
Greencarrier buys Trana SWEDEN'S Greencarrier Freight Service has acquired all shares in Trana Spedition, a compatriot haulage company
France to contest SNCM aid repayment PARIS plans to contest the EC's order to reclaim €220M ($289M) in government aid to Mediterranean ferry company SNCM
HK company looks to overturn arbitration ruling HONG KONG-listed China Ocean Shipbuilding Industry said today it will seek to reverse an arbitration ruling ordering a $39M refund by its subsidiary to a shipowner in a shipbuilding contract dispute
GDF Suez to operate China's first FSRU FRENCH utility company GDF Suez has signed a deal to charter in Hoegh LNG's GDF Suez Cape Ann LNG carrier
TEN raises $50M TSAKOS Energy Navigation has become the latest public shipping company to raise money by selling perpetual preferred shares, an increasingly popular strategy
Charterers shun STX Pan Ocean bulkers STX PAN Ocean's woes have made charterers turn their backs on fixing any ships linked to South Korea's biggest bulker owner
Hyundai HI profits plunge HYUNDAI HI said today net profits for 1Q13 were 318.4Bn won ($288.5M), down 36% year on year
Asciano axes costs, jobs AUSTRALIA'S ports and rail operator Asciano said it plans to slash jobs and spending, as a downturn in volumes bites
Hanjin's liquidity risks linger HANJIN Shipping still faces liquidity risks, despite issuing bonds with warrants worth 300Bn won ($272
Building Completions Nearly Triple in US Industrial Real Estate Markets U.S. industrial real estate saw continued growth in the first quarter of 2013, according to data and analysis provided by commercial real estate services firm Jones Lang LaSalle. The U.S. markets the firm tracks experienced mid-to-low vacancy rates and healthy rental numbers, said Craig Meyer, president of JLL Industrial, Americas. Total...
Rickmers-Linie Adds 10th Ship to Pearl String Service Rickmers Savannah is the 10th vessel in the round-the-world Pearl String Service.Rickmers-Linie has added a 10th vessel on its eastbound round-the-world Pearl String Service, which connects Europe, Asia and North America, as part of its continuing investment program. The carrier has taken the Rickmers Savannah, a 30,000-deadweight-ton vessel, on long-term charter....
Norfolk Southern Resumes Operations in Midwest Flood Areas As conditions along the Mississippi, Illinois, Missouri and Wabash rivers have improved, following flooding in the Midwest, Norfolk Southern has recommenced operations on some of the impacted routes. Trains will be metered over the area as track conditions allow and will be returned to normal schedules over the weekend, the Class...
Rederi AB TransAtlantic Names Bergendahl CFO Tomas Bergendahl, Rederi AB TransAtlantic's new CFO.Rederi AB TransAtlantic has appointed Tomas Bergendahl as CFO, succeeding the interim CFO, Erik Hansen. Hansen was appointed to the interim role at the Swedish shipping company in January 2013. Bergendahl is currently the senior vice president and CFO of GKN Aerospace Engine Systems, formerly Volvo...
ISM Manufacturing Index Slips to 2013 Low The PMI Composite Index registered 50.7 percent for April 2013, according to the Institute for Supply Management. Fourteen of the 18 manufacturing industries saw growth in April. ISM Manufacturing: PMI Composite Index through April 2013 Full-size image This is the lowest index level of 2013 so far, but still indicates expansion as it...
Kansas City Southern Promotes Selby to VP Position Kansas City Southern has named Darin P. Selby its new vice president of energy markets and short line partner relations. In this role, he is responsible for the coal business unit, relationships with short lines and developing business in the emerging energy markets. Selby has 20 years of transportation experience. He was...
JOC-ECRI Industrial Price Index Hits 2013 Low JOC-ECRI Industrial Price Index, week of May 3, 2013 Full-size image A closely watched indicator of inflation posted its lowest index of 2013 but remained ahead of its one-year average for the 22nd consecutive week. This was the third straight week-to-week decline. The Journal of Commerce-Economic Cycle Research Institute index registered 125.97 for...
Kim Joins AIT Worldwide as Business Development Director Myung Kim, AIT Worldwide Logistics' new business development director.AIT Worldwide Logistics has hired Myung Kim as business development director. Based at the transportation and supply chain provider's Los Angeles facility, Kim will manage direct sales efforts in southern California. He will also be responsible for strengthening the company's customer base by...
Class 8 Truck Orders in April Top 23,000 Units North America's Class 8 truck net orders in April totaled 23,026 units, rising 6 percent from the previous month and increasing 37 percent from April 2012, according to FTR Associates' preliminary data. Orders for Class 8 trucks have now been above 20,000 for five consecutive months. "Orders continue to remain at a...
CEVA Logistics Posts a Loss of Nearly $900 Million CEVA Logistics reported a loss of €681 million (about US$892.6 million) in 2012, growing from a loss of $283.1 million in 2011. Loss before income tax was $876.7 million in 2012, versus $250.3 million in the previous year. However, yearly revenue was $9.5 billion, rising 4.8 percent year-over-year from $9.0 billion. Earnings...
United Grain, ILWU File Complaints With NLRB A total of six charges have been filed with the National Labor Relations Board by union dockworkers and United Grain Corp. at Washington's Port of Vancouver, The Columbian reports. Four of the charges were filed against United Grain by the International Longshore and Warehouse Union on March 4, 18 and 21...
Baker Park Opening Celebration Planned for May 4 Mayor Bob Foster, the Office of Councilmember James Johnson, and the Departments of Parks, Recreation and Marine, and Public Works, invite the public to attend an opening event for the Baker Park on Saturday, May 4, at 11 am. The new 1.25-acre park is located at 625 Baker Street at...
SCFI: Trans-Pacific Rates Drop Despite May 1 GRI Shanghai Containerized Freight Index spot rates for U.S.-bound trade lanes continued to decline in the week of May 3, showing no achievement of a May 1 $800-per-FEU general rate increase to the West Coast proposed by Cosco, U.S. Lines and MOL. This was the fourth straight week of declines in Asia-U.S. lanes. "Although not all...
Cosco to Raise Asia-South America Rates in Mid-May Cosco Container Lines will boost rates for all shipments, including refrigerated cargo, on its trade from the Far East to South America's west coast, starting May 15. The hike will be $500 per 20-foot container and $1,000 per 40-foot and 40-foot high-cube container, the carrier said....
Yang Ming Takes Delivery of 8,626-TEU Ship 'Unicorn' The YM Unicorn was unveiled at CSBC Kaohsiung Shipyard in China.Yang Ming has received delivery of the YM Unicorn, an 8,626 20-foot-equivalent unit container vessel built by CSBC Taiwan. The ship was unveiled at a ceremony at CSBC Kaohsiung Shipyard in China, presided over by Frank Lu, chairman of Yang Ming...
SCFI: Asia-Europe GRIs See Further Pushback The Shanghai Containerized Freight Index in Europe lanes continued to decline this week despite general rate increase attempts. The next GRIs in this trade lane are set for mid-May. Hapag-Lloyd, Cosco and UASC have proposed increases of between $500 and $600 per TEU. "The plan to postpone the previous April increase until...
DSV Road Introduces European Groupage Service DSV Road, the trucking division of DSV, has introduced DSV Daily Pallet, a new service offering daily pickup and departure with delivery of palletized groupage shipments between 35 kilograms (about 77 pounds) and 7,716 pounds to and from anywhere in Europe. DSV Daily Pallet will operate across the existing pan-European network...
MOL to Take Space in PIL's Mozambique Service Mitsui O.S.K. Lines will be taking space on Pacific International Lines' Mozambique Express Service. MOL will swap slots on the new Indian Ocean Islands service announced this week to get space on this weekly service, which PIL will operate with seven ships. The port rotation is as follows: Singapore; Maputo, Beira and Nacala, Mozambique; and returning...
SBLK sitting pretty Star Bulk Carriers should have enough ammunition to acquire up to six supramaxes when it wraps up a rights offering, according to an analyst at Arctic Securities.
Moody's downs Navios Moody's Investors Service on Friday took a red pen to its outlook on the corporate family rating (CFR) of Navios Maritime Holdings (Navios) in response to ongoing concerns about the future of the dry-bulk market.
Claren swoops on NNA stock Claren Road Asset Management has bought into Navios Maritime Acquisition just a few days after the owner pulled off a landmark distressed deal.
Mercator adding MR India's Mercator has agreed to add another MR tanker to its fleet.
Danske's history lesson A spate of capesize contracts this year carry a worrying similarity to a poorly timed order run over three decades ago, Danske Bank says.
Siem cashes in An ongoing scarcity of anchor-handlers in the North Sea spot market has led to Statoil paying a whopping NOK 1.7m ($292,000) per day for a vessel on Friday.
DFDS eyes Scandlines Denmark's DFDS is going up against private equity funds in the battle to buy Baltic ro-ro operator Scandlines.
Diana scraps a second Diana Containerships has sold its second vessel for demolition in under a month.
Sale boost for d'Amico Milan quoted d'Amico International Shipping has taken another step in its fleet rejuvenation programme with the sale of a handysided products carrier for $12.25.
Jinhui braces for fall A battered bulk market has led Jinhui Shipping & Transportation to fire a first quarter profit warning.
NorthLink's image problem Scottish ferry operator Serco NorthLink's new logo has come under fire for an alleged resemblance to Nazi imagery.
Flying Scorpio's kite We take a look at what was said in the market over the past week.
HHI profit squeezed Hyundai Heavy Industries has seen its first quarter profit sliced by more than a third as lower margins squeezed its bottom line.
Mipo starts off weaker Korea's Hyundai Mipo Dockyard has turned in an operating loss for the first quarter - and net earnings were also cut.
TMT tries to block sale Nobu Su's TMT is making a last ditch attempt to prevent the auction sale of an ore carrier detained by Chinese authorities for almost a year.
Tougher for Cosco Corp Shipyard group Cosco Corp (Singapore) is expecting a more difficult 2013 after first quarter profit dropped.
Island renews old ties Norway's Island Offshore has laid down close to $70m for a newbuilding at Vard Holdings.
Barreras bosses stay Spanish shipbuilder Hijos de J Barreras will retain its top management after being bought by Mexican oil group Pemex.
Eco titans to team up TradeWinds digests the digits making the headlines this week.
Key calls it quits Danish bulker operator Key Maritime Rederi has filed for bankruptcy in Copenhagen.
Early offer rejected Somali pirates agreed to accept a ransom of $3m to free six crew from Danish cargoship Leopard only two months into what would turn into a 28-month ordeal.
KOTC sells MR sisters Kuwait's KOTC has reportedly offloaded four veteran MR sisters into Nigeria.
Chamarel cut in two A French cable-layer has been cut in half as it awaits removal from a Namibian beach.
Cartier fire under control Fire crews have extinguished the blaze which broke out in the hold of an ACL con-ro in Hamburg.
STX yards to go? Troubled STX Offshore & Shipbuilding could sell its overseas yards as it battles to secure its future.
Atlantic's profits surge Atlantic Navigation, which only listed in Singapore late last year, has reported a 75% jump in first quarter profits.
MSC scraps boxship trio Mediterranean Shipping Co (MSC) has reportedly sold three smaller containerships for demolition.
Varun tanker arrested India's Varun Shipping has had one of its aframax crude tankers arrested in Singapore court documents show.
Seacor books five VLGCs Seacor Holdings has ordered up to five VLGCs at Hyundai Heavy Industries in a potential $360m newbuilding deal.
ILA maintenance locals approve new contract Members voted in favor of a new six-year contract by a vote of 632-18, according to Dennis A. Daggett, president of Local 1804-1 and the chief negotiator for the maintenance locals. The ratification vote was held on April 30.
WWL bids for Melbourne auto dock
Pittsburgh port building wireless network
Rickmers adds 10th ship to eastbound Pearl String
16,000-TEU CMA CGM ship enters service
Cass: Freight shipments, expenditures fall in April
Truckers: Ontario market still volatile
Business groups push Senate to act on WRDA
Hong Kong port strike drags on In the latest development, the Union of Hong Kong Dockers (UHKD) said that employees of Comcheung Ltd. at another of Hong Kong's terminals have joined the strike, according to reports from local media. About 530 workers are now on strike.
YRC sees first positive operating income in 6 years "These results are due to a rational pricing environment for both YRC Freight and the Regional segment, and the productivity improvements along with the customer mix management effort at YRC Freight specifically," YRC's James Welch said.
Con-way has disappointing 1Q
Cambie leaves CFO post at OOIL
Electronic shippers seek 'repairable' claim Recyclers in the United States and Europe are concerned about these proposed exemptions because their investments in businesses to dismantle or shred e-waste and transform it into commodities will be undermined.
Weekly global market update A weekly price round up of bunkering hubs from around the globe.
North American bunker prices rally to close out week Prices rise despite suggestions of below average demand for IFO product.
CIMAC guides operators through distillate pitfalls Identifies problems associated with fuel switching and operation of main engines on low sulphur distillates, and offers handling advice.
Ferry operator 'evaluating' LNG conversion bids Plan is to have WSF Issaquah-class ferries run on LNG.
Tight avails in Fujairah Good demand in Middle East hub.
Fuel oil arbitrage volumes set to fall in June Asia-based traders say markets are already showing signs of firming.
Markets strengthen on rising crude Piraeus quiet on public holiday.
Sale of Vinalines' ships slow going Three out of 23 sold so far.
MAN Diesel recommends high BN lubricant for super-slow steaming IBC 34 shown draft of new guidelines for cylinder lubrication choice for MAN B&W low speed engines.
Market wants 'bigger, more fuel efficient ships' Rickmers could be close to placing new orders.
Bank pushing for judicial sale of TMT ships Bulk carrier to come under auctioneer's hammer on Monday.
Singapore arrest for Indian-owned ship Failure to pay crew's wages sparked move.
Asian prices end week on firmer note Good demand seen in Hong Kong.
Fuel-saving vessels to service windfarm project Cwind says this is its 'largest vessel contract' win to date.
Endofa's business a 'copy and paste' from us, says Monjasa CEO Monjasa's management finds the way former employees have set up business with focus on same areas hard to accept.
Dan-Bunkering relocates bunker trader to Dubai Pooja Sangani relocated from Middelfart to Dubai.
16,000 TEU newbuild begins its first rotation CMA CGM Jules Verne is equipped with 'all the latest environmental technologies'.
Navios Acquisition returns to black Firm has bought 'eco' tonnage.
Nakilat finds favour with LNG as bunker fuel Feasibility study prompted by cost of bunkers.
Seacor orders VLGCs with 'improved performance' Vessels will have new hull design and use MAN B&W G-type engines, says firm.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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