Capital Product bags $110m from offering UPDATE: Analyst says trio of incoming boxships may pave the way for distribution increase
Navios Acquisition unveils charters for four MR2s Profit-sharing a feature of latest employment for upcoming newbuildings
UK shipping warned of 'imminent' risk off Yemen Unprecedented ISPS Code threat to shipping issued as British embassy is closed
GasLog and Maran win BG business for another four newbuilds Charters yet to be signed will back orders of 174,000 cu m ships
Charter party discount rates: Kildare was right Judge in case recognised the need for a risk premium
UACC sticks with Danes as it replaces chief executive Brightoil's Wistoft to replace Grønning
Emsa is on the case for Filipino mariners Agency aims to improve the standards in the maritime industry in the Philippines
Maersk Tankers and Torm maintain silence over merger rumours Expert says despite previous speculation about a tie-up, it makes more sense now
Coscon faces higher tax burden after China VAT reform Chinese state carrier says it has to pay more due to supplementary levies
Towards a more balanced view of shipping investments Ordering low-cost, energy-efficient ships now may keep the market lower for longer, but will hasten scrapping of high-consumption ships
Asia to north Europe box volumes jump in June Latest figures from Container Trades Statistics show 7.3% rise after declines in April and May
Liner schedule integrity slips again June's 2% decrease marks second consecutive month of diminishing on-time performance
On the Myanmar road A handful of shipping companies are setting up operations in the fast developing country
Deutsche Post DHL reports stagnant demand on east-west trade lanes Ocean freight volumes in first half of 2013 slip 1.5%
K Line launches marine management services in India Mumbai-based operation will take advantage of expanding market in region
Blank Rome expands US marine practice and pulls out of Hong Kong Houston merger scoops up all eight lawyers at Bell, Ryniker & Letourneau
CH Offshore reports yearly loss due to provision for bad debts Loss to Singapore-listed platform supply and tug operator linked to two vessels returned in January
TORM shares soar on rumour of bid from APM SHARES in TORM, the Copenhagen-listed product tanker group, soared this morning on rumours that Maersk Tankers plans to bid for it, a shipping analyst told Fairplay
Suao/Hualien ro-ro tested TAIWAN is to launch a trial-run ferry service tomorrow that would link Suao and Hualien on its East Coast
Nigeria weighs FLNG THE NIGERIAN National Petroleum Corp is considering using floating LNG technology to access gas off the Niger Delta, IHS World Markets Energy reported today
Greens assail Arctic drilling plan ENVIRONMENTAL groups pledged today to continue to push for a moratorium on offshore oil drilling in the Arctic in reaction to Shell's spill contingency plans being approved
G6 adjusts Black Sea loop MEMBERS of the G6 alliance have decided to modify their Far East/Black Sea network
Oaktree, Monarch control 37% of Star Bulk PRIVATE equity groups Oaktree Capital Management and Monarch Alternative Capital have each declared equity stakes of 18.6% in Star Bulk Carriers, following the completion of the company's backstopped rights issue in July
Keppel clinches $79M deal KEPPEL O&M said today it has secured upgrading and repair projects from repeat customers worth an aggregate S$100M ($79M)
Profits fall 57% at TAS MALAYSIAN shipbuilder TAS Offshore has reported profits of 3M ringgit ($0.93M) for the fourth quarter ended 31 May
China's grain imports fall CHINA's 1H13 grain imports fell 25% year on year to 5.5M tonnes, with net imports also down 26% y/y to 4.9M tonnes, according to its customs office
DHL defies volume drop GERMAN freight forwarding giant DHL Global Forwarding maintained its profit levels in 1H13 despite a drop in cargo handling volumes
Small feeder box ships get the elbow FEEDER box ships of less than 1,000teu are facing structural problems, as operators seek to maximise economies of scale, a leading analyst cautioned today
CPP to spend $195M for 3 ships NASDAQ-listed Capital Product Partners said it intends to buy three 5,023teu ships for a combined $195M
Global swings to losses MALAYSIA's tanker operator Global Carriers today posted losses of 7.7M ringgit ($2.4M) for 2Q13, ended on 30 June
Australia's Trade Surplus Rose in June In seasonally adjusted terms, Australia had a goods and services trade surplus of A$602 million (about $541.2 million) in June, an increase of A$95 million, or 19 percent, compared with the surplus in the previous month, according to the Australian Bureau of Statistics. Between May and June, in seasonally adjusted terms,...
Profit Slumps at India's Gateway Distriparks Gateway Distriparks Ltd., India's leading port-based logistics provider, reported a consolidated net income of $4.9 million for its first fiscal quarter, which ended June 30, a decline of 14.7 percent year-over-year. Quarterly revenue increased 6 percent from the same period in 2012 to $40.4 million. The Mumbai-based company's operating profit for the...
China Unveils Three-Year Plan to Upgrade and Restructure Shipbuilding Industry China's State Council has issued a three-year plan to upgrade and restructure the troubled shipbuilding industry. The sector faced "unprecedented, severe challenges" as a lack of new orders, owing to weakness in the global shipping market, had exacerbated overcapacity in the industry, said Xinhua, a state-owned news agency, citing the government...
Charter Owners Hit by Slack Demand for Small Ships Non-operating owners of vessels that charter small feeder ships to shipping lines are getting hit hard by the waning of demand for these ships. Container ships with capacities of less than 1,000 20-foot-equivalent units, which have been the mainstay for short-haul feeder and coastal trades, are increasingly being returned to their...
Israel's Labor Court Delays Port Tenders Israel's National Labor Court has ordered the federal government to temporarily halt tenders for the building of two new private ports until Sept. 1 and launch negotiations with unions regarding the process, Haaretz reports. The court also ordered the Histadrut and the Ashdod and Haifa port workers' union not to call...
US Goods Trade Deficit Shrank in June In June, the U.S. goods deficit decreased $9.7 billion from May to $53.2 billion. Exports of goods increased $4.0 billion month-over-month to $134.3 billion in June, while imports of goods decreased $5.7 billion to $187.4 billion. The May-to-June increase in exports of goods reflected increases in industrial supplies and materials; capital goods;...
Port of Baltimore's Cargo Traffic Hits Record High The Port of Baltimore moved a record amount of cargo in fiscal year 2013.The Port of Baltimore's public marine terminals handled a record 9.55 million tons of general cargo in fiscal year 2013, from July 2012 through June 2013, besting the previous record of 9.33 million tons set in fiscal...
Summertime Blues at NY-NJ Port As cargo delays at the Port of New York and New Jersey enter their third month, customers are wondering: When will this end? Terminal operators say they expect things to settle down soon after Labor Day. Vacationing longshoremen will be back on the job, diverted ships presumably will return to their...
Obama's Chemical Facility Order Could Affect Cold Chains President Obama has signed an executive order, "Improving Chemical Facility Safety and Security," in response to the explosion earlier this year at a fertilizer facility in West, Texas. A working group will be formed to direct the federal government's efforts to implement the executive order. It will be co-chaired by representatives...
UPS Trailblazing Executive Christine Owens Retiring After 33 Years Christine M. Owens, who rose from a part-time position to become a top UPS executive, announced she will retire after 33 years with the company. Over the course of her distinguished career, Owens served in key roles, including the first woman region president, a key operational position. She also is...
Kenco Celebrates Six Decades of Business-and Service CHATTANOOGA, Tenn.-August 6, 2013 (James Street Media Services)-Last week, more than 4,000 employees in 100 North American locations celebrated the 63rd anniversary of the founding of Kenco, a leading provider of distribution, transportation, and supply chain intelligence solutions.In 1950, Kenco began with just two employees and one 100,000 square-foot facility...
Governor Pence to Keynote 2013 Indiana Logistics Summit, Oct. 9-10 INDIANAPOLIS (Aug. 6, 2013) - A new governor and a new intermodal service will deliver major excitement at the 2013 Indiana Logistics Summit. Gov. Mike Pence will provide his first keynote address at Indiana's premier freight transportation conference, which will feature discussions about the new 'nonstop' rail service that is...
Women's Shipping Conference Coming to Montreal MONTREAL, August 6, 2013: Leading women executives and other experts from the international maritime shipping community will be meeting in Montreal this October to discuss economic, environmental and political challenges facing the industry as part of the 33rd annual Women's International Shipping and Trading Association (WISTA) conference. Speakers and presenters from the...
UK Issues Security Alert to Shipping Companies Operating Near Yemen The U.K. has issued the highest possible security alert to British shipping companies operating off the coast of Yemen, according to an expert, BigPond News reports. Neil Roberts, a senior insurance underwriter at Lloyd's Market Association, told a BigPond News reporter that the U.K. Department for Transport issued a "level three"...
An HOS Win by Attrition In prizefights of the past, you couldn't win the championship by slightly outpointing the current champion. You had to have a clear-cut victory by amassing significantly more points or by knocking the champion out. In many ways, that's how I view major changes in regulations. If we are going to affect...
Survey: Class 8 Purchases to Rise in Third Quarter CK Commercial Vehicle Research's latest Fleet Sentiment Report predicted increased activity for Class 8 truck orders in the third quarter of 2013. The FSR Buying Index, which captures overall planned buying activity for the next three months, reached 95.2 for the third quarter, down 2 percent from the second quarter of...
Canada's Trade Deficit Narrowed in June Canada's merchandise exports in June rose 1.4 percent month-to-month, while imports inched up 0.6 percent, resulting in a trade deficit of C$469 million (about US$451.9 million), compared with C$781 million in May, according to Statistics Canada. Exports rose to C$39.6 billion in June, driven by unwrought precious metals and precious metal...
CMA CGM Prepares for End-2014 IPO Buoyed by profits, the sale of some assets and cash infusions from two outside investors, CMA CGM is sporting a much healthier balance sheet this year than it was just two years ago. If it continues to post profits and the financial markets allow, it will launch an initial public...
TEU on the up Greek containership operator Box Ships reported its ninth profitable quarter as a public company Tuesday but missed the Wall Street consensus by a penny.
Paragon loses charters Paragon Shipping said US bank Morgan Stanley will pay to hand back two panamaxes as the bulker owner reported results that were barely above water.
Regent seals financing Regent Seven Seas Cruises of the US has secured financing for a $450m cruiseship under construction at Fincantieri's Sestri Ponente shipyard in Genoa.
Angola resolution 'soon' Tidewater expects resolution soon in negotiations over its offshore vessel fleet dedicated to major customer Sonangol.
Drillship delight Rowan Companies of the US has secured employment for a drillship under construction at Hyundai Heavy Industries in South Korea.
Tidewater falls short Tidewater has disappointed the market in the first quarter as the takeover of Troms Offshore and a customs dispute in Equatorial Guinea hurt its bottom line.
DP World scores DP World will have its name emblazoned on the shirt of one of Dubai's oldest sporting institutions from next season.
India plots ports splash Two new major ports planned in India could cost INR 158bn ($2.57bn).
Marinakis hunts $110m Capital Product Partners is looking to collect $110m from a follow on offering to pay for a trio of containerships.
NNA fixes MR four Navios Maritime Acquisition Corporation (NNA) will earn at least $36.7m from tanker charters announced on Tuesday.
Yemen tension mounts Vessels sailing close to Yemen have been warned to be even more on their guard than usual following rumours that the country is the focus of an imminent terrorist attack.
Burned crew airlifted The US Coast Guard (USCG) has rescued two crewman who suffered burns on a Greek bulker off the mouth of the Columbia River.
Ton up for STNG Scorpio Tankers has taken its fleet through the 100 vessel barrier with its latest newbuilding order.
SCF deadline set State tanker owner Sovcomflot will be part-privatised by the end of 2014.
Swissco chopped in Q2 Singapore-listed offshore support vessel owner Swissco Holdings saw its bottom line slashed in half during the first quarter as revenue fell across all three of its business segments.
STX bulker released An STX Pan Ocean bulker arrested in New Zealand has been freed to leave after a deal was struck with creditors.
Migrant mix-up A Greek tanker has come under fire for heading to Malta with African migrants on board.
Oaktree's $20m Star Investment giants Oaktree Capital and Monarch Alternative Capital have injected a collective $40m into Star Bulk Carriers.
MISC to feel LNG pain The decision by Malaysian oil and gas company Petronas to buy its own LNG carriers from now on could shave up to a fifth off the future LNG earnings of compatriot shipowner MISC, analysts say.
Danske lifts Awilco Awilco LNG's move to bridge a newbuilding funding gap with a sale-and-leaseback deal has been met with an upgrade by Danske Bank.
SBO bouncing back Windfarm vessel operation Swire Blue Ocean (SBO) is expecting a return to profit this year.
Takeover talk lifts Torm Torm stock took flight this morning amid rumours Maersk Tankers is readying a takeover of the company.
KDM pushes up volumes Ukraine's KDM Shipping has upped its cargo volumes in the first half as the weather proved to be benign.
VLCC breaks down Chinese rescue ships have towed a new Ocean Tankers VLCC back to shore after it broke down in the Yangtze Delta.
Uljanik loss doubles Croatia's Uljanik Plovidba has recorded a 100% rise in its first half loss as revenue slumped.
Vympel building ferry Russia's Vympel shipyard has announced it will start building a new hydrofoil this month.
UACC picks Wistoft Well travelled shipping executive Per Wistoft has been named as the new chief executive of United Arab Chemical Carriers (UACC).
DHT ties up Trader DHT Holdings has secured a period charter for a suezmax tanker formerly on charter to Overseas Shipholding Group.
Bad debts sink CHO Bad debts have pushed Singapore PSV and anchor handler operator CH Offshore to a loss for the full year.
OOCL targets SE Asia OOCL is looking to expand its footprint in the intra-Asia trades with a new service linking three of the regions tiger economies.
Keppel wins Gorilla job Keppel Offshore & Marine (Keppel O&M) has won two rig refurbishment deals that will add SGD100m ($79m) to its backlog.
Neera auction date set A Pratibha Shipping product carrier arrested in India over unpaid bills to suppliers is set to be auctioned on 23 August.
Back to School: Understanding the Value of a Supply Chain Education A growing number of targeted degree programs have been established to educate the next generation of industry leaders. This one-hour, interactive discussion will help you understand how to assess the value supply chain education presents to you and your organization:
Worldwide Express sold
China seeks to restructure shipyards Nie Lijuan, deputy secretary-general at the China Association of the National Shipbuilding Industry (CANSI), said the goal is to "ease the supply glut of low-end ships and boost technology competence in producing high-end ships."
Crowley triples warehouse space in Panama
DHL 'solid' in 2Q
Con-Way invests $2 million in driver technology
Retailers: NY/NJ delays costing $8 million per month NRF President Matthew Shay said some members are paying thousands of additional dollars as a result of the congestion, with increased costs coming from storage at the terminal and longer driver wait-times of up to six hours.
EU approves US Airways, American merger AMR Corp. and US Airways Group have received permission from the European Commission for the $11 billion merger of American Airlines and US Airways conditional upon the release of a daily slot pair at Heathrow Airport.
IAG sees continued cargo decline in July
Washington Notebook: Obama nominates drug czar to head CBP
Etihad helps develop Abu Dhabi cargo network
ITC investigates wireless device imports The products at issue include mobile phones and tablets with features and hardware, such as transmitters and receivers, which may allow these products to be geographically located on a map and tracked.
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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