Sea mode outstrips air freight Results of some major freight forwarders reveal another subdued year in 2012, but sea freight volumes continued to increase
What's in the box for 2013? The A to Z of ocean carriers delivered a mixed bag of financial results in 2012, but it is time now to look at prospects for the rest of this year
Liquidity will be the key to survival But Standard & Poor's rates most big names 'adequate'
Tankers will bounce back first, S&P forecasts But spot rates will remain vulnerable
Moving mountains to shape the future Shell's forecast of a gas world benefits shipping
Hong Kong dockers win court approval to picket inside Hutchison terminal Union members entitled to strike and to peacefully picket at the workplace, Hong Kong High Court rules
Still no magic bullet Are armed guards the answer for West Africa?
UK government fails to meet anti-piracy promise Money is being wasted due to lack of cohesive strategy, says UNA former chairman
Liquidity, liquidity, liquidity Cash will be king in 2013
Girls allowed, mariners welcome UK Chamber's last two presidential nominations send an important message
Nordic Capital acquires Unifeeder Montagu Private Equity to sell Danish logistics company
Battle to reclaim oil cargo could mark legal first in West Africa Luck and intelligence located pirates' Anuket Emerald booty
Singapore to invest $800m in LNG Capital boost comes as republic is on the verge of changing global LNG trade dynamics
Idle box fleet reaches highest level for a year More than 4% of the total global fleet is now idle
Flat market holds a strong future Capesize rates remain below operating costs. Meanwhile, a handful of owners continue to order new ships
Asia to Europe volumes increase again Busiest February since CTS records began
VLCC cash burn seen extending for years MODERN VLCCs will continue operating at loss-making levels for years unless demand and scrapping accelerate, ICAP Shipping predicted
Unifeeder acquired NORDIC Capital Fund VIII has agreed to acquire Unifeeder, the Danish logistics and container shipping company, from Montagu Private Equity in the UK
PETRONAS ups ante for MISC buyout PETRONAS, Malaysia's gas and oil giant, today raised its offer to buy out the country's MISC LNG carrier group to $4Bn, according to a bourse filing
Delhi pledges insurance for Iranian crude DELHI has pledged to create an insurance pool of 20Bn rupees ($370M) to help two Indian refiners buy crude from Iran
Jones Act tanker rates surge SPOT RATES for US coastwise petroleum shipments are reaching new highs, which should prompt more Jones Act tanker and barge orders, Credit Suisse analyst Gregory Lewis said today
Tallink buys Viking ro-pax VIKING Line said today it has sold its ro-pax Isabella to Tallink Grupp subsidiary Hansalink for €30M ($38.54M)
Cecon bondholders take up all shares on offer CECON said today its bondholders have subscribed for all 17.87M new shares the Oslo-listed offshore services vessel owner offered
Scorpio extends order push UNRELENTING growth continues at Scorpio Tankers, which has committed $209M to another half-dozen newbuilding product tankers
Taiwanese liners most exposed to HK port strike TAIWAN's three biggest box carriers appear to be worst affected by strikes that today began their second week at HIT
AET selling VLCCs? AET IS reported to be in talks to sell two of its 2005-built VLCCs, brokers told Fairplay today
BDI slides more on holidays THE Baltic Dry Index has been sliding all week, with the tonnage build-up over the Easter weekend and tomb-sweeping holidays in China pressuring rates
UK delays decision on Eurotunnel ferry role THE UK has put off a decision on whether to approve Eurotunnel's involvement in the Dover Strait ferry trade
American Railcar Industries Opening Mississippi Facility American Railcar Industries is opening a railcar maintenance facility in Brookhaven, Miss., in Lincoln County, expanding its presence in southwest Mississippi, according to Mississippi's Gov. Phil Bryant, local officials and ARI officials, the Mississippi Development Authority reports. The new facility, which will complement the company's operations in Bude, Miss., represents a...
Damco Opens Second Container Freight Station in Cambodia Damco opens another warehouse in Cambodia.Damco has opened a second container freight station warehouse facility in Cambodia, following the launch of Damco CFS Warehouse 1 in August 2011. Both facilities offer a combined space of more than 16,000 square meters (about 172,223 square feet) with more than 40 loading bays. "There are...
New Zealand's Tauranga Opens Expanded Container Terminal he Port of Tauranga, New Zealand, has opened its expanded container terminal facilities. The capital expenditure program included a $30 million extension to wharf length at the Tauranga Container Terminal, increasing it by 170 meters (about 558 feet) or 28 percent; the installation and commissioning of a new Liebherr super-post-Panamax ship-to-shore twin-lift...
Intermodal Cartage Announces Promotions, New Hires Intermodal Cartage Group, part of IMC Companies, has promoted two current team members to new roles and named two new hires at its Nashville, Tenn., office: Nick Payne has been promoted to regional vice president. Prior to this position, he held various roles in the intermodal industry, most recently as regional...
Port of Seattle Joins Environmental Initiative Green Marine The Port of Seattle has joined Green Marine, a voluntary environmental program for the maritime industry in North America. The port is the first U.S. West Coast port to join the environmental initiative. The program addresses nine environmental issues, including air emissions; community impact, such as noise, dust and light; and environmental...
US Senate to Study Impact of Panama Canal Expansion U.S. Senate Committee on Commerce, Science and Transportation will hold a hearing on April 10 at 2:30 p.m. EDT titled "Expanding the Panama Canal: What Does It Mean for American Freight and Infrastructure?" The hearing will explore how the Panama Canal expansion will change the movement of freight into and throughout...
QuestaWeb, AduanaSoft Join Forces for US-Mexico Trade U.S.-based QuestaWeb, a Web-based trade management provider, and Mexico-based AduanaSoft, an automated solutions provider for Mexican customs clearance, have entered into an alliance partnership and have subsequently integrated their software to offer a solution for U.S. companies manufacturing in Mexico's maquiladora industry. U.S. firms seeking to leverage the market advantages arising...
Vitran Names Deluce Interim President, CEO Vitran's board of directors has appointed Bill Deluce, current board member, as interim president and CEO, effective immediately. The appointment follows the resignation of Rick Gaetz as president, CEO and a director of the North American transportation firm. In the new position, Deluce will work with Vitran's management team and board of...
Orbcomm Acquires MobileNet, GlobalTrak Orbcomm has completed its acquisition of "substantially all of the assets" of MobileNet and the GlobalTrak division of System Planning. "The completion of the GlobalTrak and MobileNet acquisitions is a significant step forward in building our diverse portfolio of end-to-end solutions and enables Orbcomm to execute our long-term vision of expanding...
Canada, UAE Advance Agenda to Strengthen Bilateral Ties The goals set for Canada and the United Arab Emirates' strategic agenda have been accomplished and will be formalized next month, according to John Baird, Canada's Foreign Affairs Minister, and Sheikh Abdullah bin Zayed Al Nahyan, Foreign Minister of the UAE. More than a year ago, the two nations planned an...
WCI: Trans-Atlantic Rate Increase Flops World Container Index rates between New York and Rotterdam Full-size image Trans-Atlantic carriers failed to achieve a general rate increase set for April 1 between Northern Europe and the U.S. East Coast. Carriers such as CMA CGM, Hapag Lloyd, APL and Maersk Line announced rate hikes of between $200 and $300 on...
CMA CGM to Hike Europe-Asia Rates in May CMA CGM will increase rates on its trade from North Europe to the Far East, starting May 1. The container line said the hike will be $125 per 20-foot equivalent unit....
IAG Cargo Volume Fell Nearly 8 Percent in March International Airlines Group, the merged British Airways-Iberia carrier, reported cargo traffic of 499 million metric-ton-kilometers in March, down 7.9 percent from 542 million metric-ton-kilometers of cargo in March 2012. From January to March, IAG handled 1,364 million metric-ton-kilometers of cargo, down 8 percent compared with 1,482 million metric-ton-kilometers in the first...
EPA Voids Import Approval for 74,000 Recreational Vehicles The U.S. Environmental Protection Agency has withdrawn approval of the import and sale of up to 74,000 gas-powered on- and off-road motorcycles and all-terrain vehicles from China on the grounds that it may have received incomplete or falsified certification information. EPA said it issued the vehicle certificates from 2006 to 2012...
Unifeeder Sale Could Hasten Short-Sea Consolidation The acquisition of Unifeeder by Nordic Capital announced today is likely to hasten consolidation of the North Sea and Baltic markets. The Swedish-based private equity fund said it views Unifeeder, Europe's biggest short-sea carrier, as "an attractive platform for further and accelerated organic and acquisitive growth" in the pan-European shipping market. "There...
Nordic Capital to Buy Unifeeder Nordic Capital has agreed to buy Unifeeder, Europe's largest short-sea container line, from the U.K.'s Montagu Private Equity for an undisclosed price. Aarhus, Denmark-based Unifeeder transported more than 2 million containers with a fleet of 37 chartered ships between more than 40 ports in northern Europe, the U.K., the western Mediterranean...
Bird flu threatens bulk An outbreak of the avian flu in China could have an impact on the dry-bulk sector, according to analysts at ICAP Shipping.
Hosco bulker arrested US Marshals have been ordered to arrest a bulker controlled by Hebei Ocean Shipping Co of China.
Rio run for Diana ship Diana Shipping will be banking smaller cheques from another of its ships after securing a period charter for a panamax today.
Yujin sells bunker vessel London-listed tanker owner Yujin International has sold one of its bunker tankers.
Scorpio's next stop Scorpio Tankers has been tipped for an eighth trip to the capital markets before putting pen to paper on its next round of newbuildings.
Norden springs buy-back Norden has pulled the trigger on a $30m share buy-back.
Farewell Montagu Nordic Capital has swooped for control of Unifeeder which had been placed on the sale block by private equity parent Montagu.
A dynasty defended We take a look at what was said in the market over the past week.
Nobu reveals paper pain Nobu Su's TMT lost over $1bn on FFAs in the aftermath of the financial crisis, the shipowner admits today.
Petronas raises MISC bid Petronas has tabled an improved offer for Malaysian shipowner MISC following resistance by minority shareholders.
Viking Line sells oldie Finnish ferry outfit Viking Line is selling an ageing roro to a compatriot owner to help pay for its new LNG-powered cruiseship.
Paying Peter TradeWinds digests the digits making the headlines this week.
Precious adds a third Precious Shipping has continued on the acquisition trail after ordering another cement carrier newbuilding in China.
Sapura plans placement SapuraKencana is aiming to raise some MYR1.6bn ($450m) to help fund its acquisition of Seadrill's tender rig business.
Shell to sell Geelong Shell says it is looking to sell its Geelong Refinery in Australia as it looks to concentrate on large scale sites.
DSA opts for diplomat The Danish Shipowners' Association (DSA) has named a current diplomat as its new director general.
Helix signs up BP BP has agreed to charter Helix Energy's Q5000 well intervention semisubmersible vessel for up to five years.
Mass. governor, legislature at odds over transportation The House proposal, which will be up for a vote Monday, April 8, hopes to pay for transportation programs, such as road and bridge repairs, by increasing the gasoline tax by three cents per gallon, among other measures.
Injunction extended against Hong Kong strikers Hong Kong's High Court has extended an injunction first obtained April 1 on striking dockworkers, barring them from entering container terminals in Kwai Chung where the port's container terminal is located.
Poor roads a big cost for Nevada
S&P says ship operators face refinancing, default risks "Given that market conditions are extremely fragile, we believe that, to keep the industry in the black, leading container operators will have to maintain stringent capacity management and pricing discipline," the rating agency said.
Port of L.A. reaches 53-foot depth The Corps of Engineers completed the 10-year, $370 million deepening of the port's main navigation channel and turning basins, enabling it to receive a new generation of super-size vessels now being deployed.
Damco opens second Cambodian facility
CII, Swiss forwarder supply French Polynesia
CSAV building new ships, repaying AFLAC loan at discount
Weekly global market update A weekly price round up of bunkering hubs from around the globe.
Bunker prices in the Americas end week lower Demand was slow across the Americas, players told Bunkerworld.
Crude plummets as US economic growth questioned WTI crude headed for biggest weekly drop in six months as US employers hired less than half the number of workers forecast in March.
Prices lack direction in Fujairah while soft in Africa Suez prices soft.
Prices sliding in European markets Piraeus MGO prices down by $24.50 pmt.
Japanese bunker avails expected to tighten Refinery turnarounds hitting fuel oil output.
Company claims 'breakthrough' for its power generator Technology could be 'attractive' for naval architects.
State aid for sulphur compliance not forthcoming Few signs that EU governments are supporting shipowner in efforts to find alternatives to MGO.
Disrupting bunkering was 'unforgivable sabotage' Japan reports 'record low catch' after anti-whaling group blocked ship-to-ship fuel transfer.
1989-built vessel sold following dual-fuel ferry's arrival Viking Line says sale is part of 'long-term strategy'.
Week ends with IFO prices largely down at major ports Bunker deliveries at Busan and Tokyo Bay subject to weather conditions.
Protocol developed for analysing bunkers Aim is to help engineers develop more efficient engines.
Ferries to start slow steaming in New Zealand Sailing time for the Kaitaki and Arahura will be increased.
South China fuel oil imports down 38% in March About 120,000 mt of fuel oil imported to region in March.
Stolt Tankers incurs losses in Q1 Weaker performance due in part to falling bunker surcharge, says company.
IOE starts physical supply operations at Colombo Working with Sri Lanka state firms CPSTL and CPC.
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