Essar Shipping profit falls 64% Indian carrier suffers from weak rates and demand
Oceanbulk and Oaktree buy Wah Kwong bulker Seven-year-old Cape Shanghai added to partners' big dry bulk play
Zhoushan pours money into shipping Chinese port city to provide direct subsidies to carriers expanding fleets
Zim to sell Black Sea slots to OOCL Move follows demise of the G6 Asia-Black Sea Express Loop 9 service
Yangzijiang confident of exercising $1.5bn order options by year-end At least four 10,000 teu boxships could be exercised with Seaspan
The International Ship and Port Facility Security Code explained Marsh marine vice-president Bob Morrison outlines what the code means
Textainer warns of subdued peak season and lower box production Lessor says increase in owned container fleet helped second-quarter revenues rise 8.4%
NOL slips back into the red in the second quarter Deteriorating market conditions and freight rates hit Singapore listed container shipping and logistics giant
Foiled port attack strengthens threat to shipping off Yemeni coast All shipowners should review their ship security plans, says BIMCO
Yangzijiang eyes merger opportunities at Chinese yards Half of all Chinese yards will fail within three to five years, predicts chairman
Can China maintain maritime growth and global sustainability? Greenwich Maritime Institute marks London International Shipping Week with conference
Small feederships in the scrapping waiting room Almost one-third of total world fleet in lay-up as larger vessels take precedence
UK ratifies Maritime Labour Convention MLC will create level playing field, says shipping minister
Maritime media pioneer David Cheslin dies Highly respected shipping media veteran dies after long illness
Asia-Europe rate increases announced for September Second successive hike in spot rates tempered by expectation of softening market to come
TransAtlantic losses shrink Swedish operator pushes ahead with restructuring of industrial shipping unit
Callimanopulos ups kamsarmax series in China to five Owner is also eyeing secondhand VLCC deals
DHT reports $7.7m loss Losses deepen for US tanker owner
Foreign lines may lose out in China's VAT reform Foreign carriers are liable to 6% tax while Chinese competitors are not
Box Ships lifts profits despite weak market Greece-based company pays dividend for ninth consecutive quarter
Paragon pockets early termination cash after breakeven quarter Gain on Korea Line settlement shares keeps bulker owner marginally in profit
Petronas move to buy its own LNG carriers will not hurt MISC, says Moody's Rating agency says the decision will help MISC's bid to control its debt
Yangzijiang Shipbuilding in strong second-quarter showing Singapore-listed, China builder reports mild drop in net profits and steady flow of orders
Ezion earnings make robust growth Offshore services operator reports 29% rise in net profit as Australian LNG projects come on line
AVIC Weihai pens handysize bulkers at $20m apiece Chinese yard to deliver three 37,650 dwt ships to Visentini and Globeco in 2015
Korea Line names SM Group as preferred bidder Offer includes a total equity infusion of $192m, including a corporate bond, to buy just over 50% of dry bulk operator
Maritime security mud-slinging on social media as competition heats up Reputation is the most valuable asset firms have when fighting to retain business
Hapag restores profits GERMAN container line Hapag-Lloyd emerged today from year-on-year losses to €20.9M ($27.75M) in net profits for the second quarter
Growth of container volumes accelerates THE VOLUME of boxes rose year on year for the third consecutive month in June, Container Trade Statistics said today
Transatlantic cuts losses REDERI AB Transatlantic, the Stockholm-listed industrial shipping and offshore services vessel owner, said today it cut its losses in 1H13
KDM's cargo climbs UKRAINE'S KDM Shipping said it transported 337,100 tonnes of cargo in 1H13, a 45.4% jump year on year
Terror attack on Yemeni port foiled YEMEN'S government reportedly said today it broke up a conspiracy by Al-Qaeda to take control of Yemen's southern port of Mukalla
DHT turns to losses NYSE-listed tanker company DHT Holdings said it swung to losses in 2Q13
Essar profits fall 63% ESSAR Shipping said today its 2Q13 net profits amounted to 194M rupees ($3.2M), a 63% fall year on year
Odfjell buys terminal unit in South Carolina ODFJELL Terminals, part of the Bergen chemical carrier group Odfjell, said today it has signed a deal to buy Chem-Marine Corp of South Carolina
Paragon treads water NASDAQ-listed drybulk company Paragon Shipping eked out wafer-thin net profits of $17,032 for 2Q13, but the performance was based largely on a $3.1M gain on Korea Line Corp shares taken to the quarterly books
Profits rise at Box Ships MICHAEL Bodouroglou's NYSE-listed Box Ships has unveiled a 73% rise in 2Q13 net profits year on year
'Strong growth' seen for Nam Cheong MALAYSIA's largest OSV builder Nam Cheong is expected to post 2Q13 revenues of 300M ringgit ($69M), up 78% year on year, DMG & Partners predicted today
Yangzijiang profits slip 19% SINGAPORE-listed Chinese shipbuilder Yangzijiang posted net profit of 1.5Bn yuan ($184M) in 1H13, down 19% on a year ago
Greeks rescue 34 migrants A GREEK Coast Guard unit has rescued 34 migrants who had scuttled their smuggling vessel when spotted off the island of Farmakonissi
Swissco profits halved SINGAPORE-listed Swissco Holdings reported a 52% year on year drop in profits to S$2M ($1.2M) for 2Q13, ended 30 June
Ezion's profits rise 29% SINGAPORE-listed Ezion Holdings today said its 2Q13 profits rose 29% year on year to $36.2M
Schneider National to Open Phoenix Facility Schneider National is adding 200 truck drivers in Arizona and opening a facility in Phoenix. The new facility is scheduled to open in September to support increasing demand from customers in the western regional service, according to the firm, No. 7 on JOC's list of the of the Top 50 Trucking...
Maersk Inc. to Sell BTT Drayage Unit Maersk Inc. has agreed to sell substantially all of the assets of its Bridge Terminal Transport marine drayage subsidiary to an affiliate of Platinum Equity, a Los Angeles-based private equity firm. The transaction is expected to be completed about Sept. 1. Terms weren't disclosed. The sale will have no impact on...
Railroad Files for Bankruptcy After Quebec Disaster Montreal, Maine and Atlantic Railway, Ltd., the Maine-based railroad at the center of a July 6 derailment and explosion that killed 47 people in Lac-Mégantic, Quebec, filed for Chapter 11 bankruptcy protection today. In addition, Montreal, Maine & Atlantic Canada Co. filed a petition seeking relief under the Companies' Creditors Arrangement...
Deutsche Post DHL Posts 'Solid' Results in Second Quarter Deutsche Post DHL reported its profit in the second quarter of 2013 was €422 million (about US$562.2 million), improving from €196 million in the second quarter of 2012. Operating cash flow by division in the first half of 2013. Source: Deutsche Post DHL. Full-size image Quarterly revenue was €13.6 billion, slipping 0.6 percent...
US Diesel Prices Slip U.S. diesel prices through August 5, 2013 Full-size image U.S. diesel prices edged down 0.2 percent in the week of August 5, following four straight weeks of increases, according to the U.S. Energy Information Administration. Prices fell in most regions of the United States. The national average price is currently $3.909 per gallon,...
Sub-Saharan Africa Export TEUs Down to Most World Regions Containerized exports from sub-Saharan Africa to North America and Europe experienced slight increases, each roughly 1 percent, in May. Exports to other regional trades fell by more than 10 percent year-over-year, with the largest drop being in container shipments to Australasia and Oceania, according to data from Container Trades Statistics. Sub-Saharan...
Port of Tacoma ranks highest on West Coast for ease of doing business The Port of Tacoma ranked highest among West Coast ports for ease of doing business in Logistics Management's 2013 Quest for Quality awards. Winners were selected by the magazine's readers-the buyers of logistics and transportation services. The awards recognized 129 top performers, including carriers, third-party logistic providers and ports. Readers evaluated ports...
NY-NJ Sets Aug. 19 Date for RFID on Trucks A program to require radio-frequency identification tags on trucks serving container terminals at the Port of New York and New Jersey will go into effect Aug. 19. The program originally was scheduled to go live on July 15. The RFID tag program requires trucks to register under the port authority's drayage...
Hapag-Lloyd Posts Profit Despite 'Unsatisfactory' Freight Rates Hapag-Lloyd reported its profit in the second quarter of 2013 was €20.9 million (about US$27.8 million), compared with a net loss of €7.3 million in the same period last year. "Although intense competition led to unsatisfactory rate levels, substantial cost cuts and a slight drop in the bunker consumption price were...
EU Customs Detained Nearly 40 Million Articles in 2012 EU Customs: Registered detention cases and detained articles. Source: European Commission.The European Commission reported almost 90,000 detention cases were registered by European Union Customs in 2012, reflecting a continuation of the trend of the high number of shipments suspected of violating intellectual property rights. The high number of detentions reflected the...
AccellosOne Warehouse SuiteApp Achieves Built for NetSuite Verification COLORADO SPRINGS, Colorado - August 6, 2013 - Accellos, a leading provider of supply chain execution software solutions, today announced that the AccellosOne Warehouse SuiteApp has achieved the Built for NetSuite verification. The AccellosOne Warehouse SuiteApp combines radio frequency, barcode technology, and a robust Internet-based architecture to deliver a powerful, scalable, flexible...
Expeditors International of Washington's Profit Rises 10 Percent Expeditors International of Washington reported its profit in the second quarter of 2013 was $92.32 million, up 10.0 percent from $83.96 million in the second quarter of 2012. However, revenue for the Seattle-based logistics company, No. 37 in JOC's list of the Top 50 Global Transportation and Logistics Companies, slipped 0.3...
Ford Motor Company Honors Union Pacific Railroad with Its Go Further Award Omaha, Neb., Aug. 6, 2013 - Union Pacific Railroad received a 2012 Go Further award from Ford Motor Company. The special honor was announced by Ford at its recently held 2012 World Excellence Awards ceremony and was presented to 35 global suppliers who demonstrated a "Go Further" mindset and continuous...
East-West US Intermodal Rate Index Falls for a Second Straight Week East-West spot rates, week of August 5, 2013 Full-size image Westbound U.S. intermodal rates slipped again in the week of August 5, pulling down the overall national index, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The composite index edged down 0.3 percent...
Matthias Loll Named VP - Project Development North America (Houston, TX - August 7, 2013)...UTC Overseas, Inc. is proud to announce that Matthias Loll has been promoted to Vice President Project Development North America. In his new position, he will oversee the growth and development of the company's UTC Canada and UTC Mexico offices and operations, working closely with...
White House Vetoes ITC's Ban on Apple Products The Obama administration has vetoed the U.S. International Trade Commission's ban on the import and sale of some Apple iPhones and iPads, citing concerns about patent holders gaining "undue leverage," as well as potential harm to consumers and competition in the U.S. economy. Michael Froman, U.S. Trade Representative, made the decision...
International Airlines Group chooses Office 365 REDMOND, Wash., Aug. 7, 2013 /PRNewswire/ -- International Airlines Group (IAG), the parent company of British Airways and Iberia, and one of the world's largest airline groups, has selected Microsoft Office 365 as the business communication solution for around 58,000 employees, enabling its workforce to collaborate virtually anytime, anywhere around the world. "Giving our employees...
Ryder Honors 2013 Top Technicians in North America MIAMI, August 7, 2013 -- Ryder System, Inc. (NYSE:R), a leader in transportation and supply chain management solutions, today announced the winners of its 2013 Top Technician Recognition Program. This annual program is designed to identify, recognize, and reward Ryder's top performing technicians. Eligible participants for the national award are selected from...
Elemica Adds Supply Chain Industry Veteran Leadership as US and European Sales Realize Significant Growth EXTON, PA--(Marketwired - Aug 7, 2013) - Elemica, the leading Supply Chain Operating Network provider for the process industries, announces that Patrick (Pat) Faloona has joined the company as VP Sales for North America and Juan-Carlos Mani joins as VP Sales for Europe. Both have extensive experience with supply chain, transportation logistics, technology, and...
Matson on the up Profit soars in the second thanks in part to volumes tied to Jones Act liner trade.
DyShips losses stable DryShips reported net losses that were slightly better than Wall Street forecasts and revealed a deal with one lender to help lower debt costs.
DOE approves LNG license The US Department of Energy has approved another application to export domestically produced LNG from a facility in Louisiana to countries that aren't subject to a free trade agreement with the US.
All eyes on Jones Act Only two US shipyards are actively involved in the construction of crude and product carriers but this could change sometime soon.
Alterna clinches cash Alterna Capital of the US has secured the financing it needed to complete the acquisition of three medium-range products tankers from STX Offshore & Shipbuilding Co of South Korea.
BSC plots buying spree Bangladesh Shipping Corporation (BSC) is set to borrow $240m from China to fund its fleet expansion.
Hapag ditches duo Hapag-Lloyd has picked up close to $14m from a double demolition deal.
Stralsund deal close A deal to sell the bankrupt Stralsund shipyard in Germany is close, according to administrator Berthold Brinkmann.
Italy takes migrants Malta has struck a deal to end the stand-off over a Greek tanker carrying African migrants.
NOL cuts Q2 loss Neptune Orient Lines (NOL) remained in the red in the second quarter but its deficit was not as severe as the market feared.
Essar earnings eroded The tanker and bulker company said earnings to 30 June were INR 190m ($3.11m), compared to INR 539m in the same period of 2012.
RABT seeks more cash Sweden's Rederi AB TransAtlantic (RABT) will ask shareholders to approve a new rights issue as it seeks to shore up its finances.
DNB boosts TEN DNB Markets has upgraded Tsakos Energy Navigation amid progress in ship prices.
UK signs up to MLC The UK has finally ratified the Maritime Labour Convention (MLC) to guarantee minimum employment standards for seafarers.
David Cheslin dies Well-known former shipping journalist and PR man David Cheslin has died.
Odfjell keeps growing Odfjell has continued a busy period for its terminal division with the purchase of a new facility in the US.
Sado Steam Ship slips Japan's Sado Steam Ship has posted a slightly higher loss in the first half of 2013.
Great Eastern buys again India's Great Eastern has added an MR tanker to its fleet as its renewal continues.
SM wins KLC race Korean construction group Samra Midas (SM) is the new buyer of bankrupt shipowner Korea Line Corp (KLC).
Hapag back on track German container line Hapag-Lloyd has returned to profit in the second quarter as costs were reduced.
Moody's cuts steel outlook The dry bulk sector has been dealt a psychological blow after Moody's cut its outlook for the Asian steel industry to negative.
Italians back at Wehai Italian shipowners Givanni Visentini and Mariano Pane have reportedly returned to China to order more handysize bulkers.
Ezion numbers surge Ezion Holdings has reported a bumper second quarter set of results and looks set to reward its shareholders.
Yangzijiang profits dip Yangzijiang Shipbuilding (Holdings) saw second quarter profits dip by 8%, but has added $1bn worth of orders so far this year.
Nyborg-led fund strikes IPSA Capital, a new shipping equity fund led by Klaus Nyborg, is reported to have made its first acquisitions.
DHT losses deepen Tanker owner DHT Holdings has slumped further into the red in the second quarter of 2013 as it continues its turnaround.
Port Authority of NY/NJ will start dray truck ID system Starting Aug. 19, trucks entering the secure area of a marine terminal in the Port of New York and New Jersey, must be registered in the port's drayage truck registry (DTR) and authorized to conduct business at port authority terminals.
Hapag-Lloyd, NOL results reflect lower freight rates Hamburg-based Hapag-Lloyd said it had a group profit of 20.9 million euros ($27.8 million) in the second quarter of 2013, while NOL of Singapore, parent of APL, had a loss of $35 million in the second quarter of this year.
C.H. Robinson acquisitions bring steep revenue rises In the second quarter, the Eden Prairie, Minn.-based logistics services provider saw total revenues shoot up 11.3 percent, year over year, finishing the period at $3.29 billion. For the year, revenues are up 14.1 percent.
2Q earnings inch up at YRC
U.S. trade deficit drops sharply U.S. exports in June reached an all-time high of $191.2 billion, helping to narrow the trade deficit by 22 percent from May to $34.4 billion and possibly boost estimates for second quarter growth, according to the Commerce Department.
EPA sets biofuel requirements
Making LTL loads more desirable for carriers
Commerce secretary planning Mexico trade trip
Nairobi airport fire disrupts flights
ARC expands U.S.-flag ro/ro service in the Atlantic
Fujairah prices hold firm Tight avails reported at Fujairah.
Brightoil starts bunkering in Zhoushan Operations were set to start last month.
Prices falling on weaker crude Bunker prices in major European ports soft, bar LSFO in Hamburg.
NOL books loss But company says arrival of new, fuel-efficient ships supporting bottom line in tough market.
US ECA: Owners encouraged to report non-compliant fuels Enforcement agencies will 'take it into account' if ships report that sulphur tests were different from BDN.
Singapore fuel oil inventories bulk up But middle distillate stocks fall.
Asian bunker prices softening Offices in Singapore will be closed on Thursday and Friday.
Hapag-Lloyd makes quarterly profit Lower bunker prices supported its results.
Tidewater profits slide Higher operating costs eat into the bottom line.
Buckeye posts jump in quarterly profits Capacity expansion at BORCO terminal and fuel oil marketing business driving growth.
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