|AUGUST 9, 2013|
- OOIL suffers US$15.3 million net loss after $166 million profit last year
- Carriers move to raise freight rates in many trades with immediate effect
- NOL narrows operational loss to US$120 million, revenues decline 6pc
- Horizon Lines narrows quarterly loss despite 6pc fewer containers
- Matson pre-tax profit up 9.9pc to US$34 million, revenues rise 3.5pc
- Asia-Europe supply and demand remains weak despite July freight rate hikes
- Xinjiang Korgas checkpoint first half up 30.4pc to 9.82 million tonnes
- Hong Kong environmentalists call for more stringent vehicle inspections
- Provincial authorities launch, coordinate logistics development schemes
- Guangzhou Sunshine Logistics moves heavy hydro electric gear to Turkey
- Nanchang Railway Bureau daily truck loads hit 4,000 after month of reform
- Agility's second quarter net profit surges 50pc to US$40.2 million
- 'K' Line starts truck milk run service to collect autoparts in India
- BILK Kombiterminal first Hungarian terminal to join InlandLinks
- Singapore MPA clarifies who are seafarers under UN's new labour rules
- South Carolina county to slow-poke terminal planners: Speed up or else
- Lufthansa Cargo profit up 27pc despite less cargo and 9.9pc fewer sales
- Fire guts Nairobi airport, domestic terminal untouched, cargo to resume
- Air France-KLM reduces cargo loss, 200 freight handlers expected to go
- Air Partner evacuates oil workers from Cairo as danger mounts in Egypt
- Embraer E2 extends wingspan to cut fuel, lengthens to boost payload
|AUGUST 8, 2013|
- Britain issues security alert to shipping cos operating off Yemeni coast
- Essar Shipping registers consolidated net profit of 19.41 cr. in Q1
- Liberia launches online MLC complaints resolution form for seafarers
- Panama Canal expansion to be more than 60 pc complete this month
- ADANI Vapi trade apprised of the advantages of Hazira Port
- Afghanistan strikes port deal with Iran to avoid Pakistan
- Day-long strike hits operations at Kakinada ports
- MTHL fails to attract bidders yet again
- Concern over mispricing of goods to stash dollars abroad
- Govt mulls cut in iron ore export duty to boost exports
- Govt not to ban onion exports, says domestic price rise due to other factors
- Govt removes import duty on rice bran oil
- INR pares early losses after govt action, still lower than Tuesday
- IFFCO plants trees as part of I-Day celebrations
|AUGUST 8, 2013|
- New deepwater oil discovery for Petrobras
- Brazilian yard building three Incat Crowther DSVs
- CIT Maritime Finance in third deal with Alterna
- SPP Shipbuilding adds two more for Irish owner
- Dockwise Vanguard gets drydocking gig
- EMAS AMC lands first job for new flagship
- Petters: Avondale could yet build Jones Act tankers
|AUGUST 8, 2013|
- Move may spell trouble for Everett Port Commissioner
- Goods, services export numbers climb during month of June
- Trucking group pleased with FMCSA clarification of ruling
- Tacoma named top port for ease of doing business
- Matson quarterly totals up over previous year
|AUGUST 8, 2013|
- P3 is cost-focused just like G6, says OOCL's Alan Tung
Mega-alliance is essentially no different from its rival, claims acting chief financial officer
- UK gives go ahead for floating armouries
Government issues 50 licences but acceptable standard remains unclear, says BIMCO
- Charter expiries hit Teekay Tankers' second quarter
Owner is optimistic of ultimately recovering loss on Nobu Su loan but records provision
- Ardmore executes fleet expansion plan
Two product tankers now on option from SSP, South Korea, bringing total to eight
- Great Eastern Shipping boosted by product tankers and offshore trade
Indian carrier's product tanker time charter yield jumps 37% year on year
- Teekay LNG remains upbeat despite revenue drop
Higher number of offhire days blamed for distributable cashflows of $55.4m
- Thamesport loses three deepsea services
Transatlantic express shift to Southampton 'will improve schedule reliability'
- Cash-rich Sinotrans Shipping stays in black due to deposits gain
Dry bulk unit's net profit amounts to $1.6m, thanks to $11.9m finance income
- ICTSI posts first-half 20% rise in revenue
New operations in Pakistan and Indonesia help lift port terminals' throughput to 3m teu
- North P&I and Sunderland Marine merger mooted
Possible union would create one of the largest mutual marine insurers, say firms
- Matson moving forward with ship replacement plans
Jones Act 2,800 teu boxships expected to cost $200m apiece
- Wilh. Wilhelmsen deepsea ro-ro volumes rebound
Optimising and adjusting tonnage to market demand remains a key focus, says chief
- EU Chamber of Commerce slams unequal VAT treatment in China
New Chinese tax regime creating 'highest concern' in European shipping community, says trade group
- OOCL slips into red with $22.6m loss
Hong Kong carrier confident of peak season
- Eagle Bulk narrows losses in second quarter
Nasdaq-listed operator hit by tough supramax market, but scores gains on operating costs
- Dryships posts $18.2m loss in second quarter
George Economou-led owner pledges shares in Ocean Rig to ease payment terms on loans
- Students scale new heights in shipbroking exams
Institute of Chartered Shipbrokers celebrates a milestone as 300 students complete exams
|AUGUST 8, 2013|
- Wilhelmsen: volume drop levelling out
NORWAY'S Wilh. Wilhelmsen, the listed vehicle carrier and logistics company controlled by Wilh. Wilhelmsen Holding, said today a year-long drop in vehicle volume has levelled off
- Yemen port threat now seen as exaggeration
YEMEN'S government exaggerated its report that it broke up a plot by Al-Qaeda to seize the southern port of Mukalla, an IHS Global Insight assessment concluded today
- OOIL drops into the red in 1H13
HONG KONG-listed OOIL, parent of OOCL, said today it sank into the red in 1H13, mainly because box volume, freight income per teu and non-shipping business have all dropped
- US approves LNG exports
THE US LNG sector is expected to benefit from a third export facility that has been approved by the Obama administration
- Matson posts profits of $20.1M
HONOLULU-based Matson nearly tripled its profits year on year in 2Q13
- GLDD loses $25.2M
DREDGING operator Great Lakes Dredge & Dock said today it lost $25.2M in 2Q13, primarily because of losses within its demolition unit
- Ardmore expands fleet
ARDMORE Shipping, the newly minted 'eco' design tanker specialist that started trading on the NYSE after its IPO last week, confirmed today its first newbuilding orders as a public company
- GE Shipping profits rise 35%
GREAT Eastern Shipping said today lower expenses helped it to 35.4% more profits for its April-June quarter year on year
- Ocean Rig surges
OCEAN Rig UDW turned in bumper 2Q13 net profits of $38.76M, a reversal from $2.8M in net losses from a year ago
- Rio's profits crash by 71%
RIO TINTO said its profits were 71% lower in 1H13 than in the first half of 2012, but pointed out that iron ore shipments out of its Pilbara port remain at record levels
- CIT loan backs Alterna deal
PRIVATE equity group Alterna Capital Partners has secured a five-year senior secured facility of $61
- China tests polar route
COSCO Shipping is today beginning the first test sailing of a Chinese cargo ship over a 2,936nm polar route to Europe
- Modec raises forecast
MODEC, the Japanese floating production systems contractor, today increased its forecast for 1H13 profits by 42.5% to ¥5.7Bn ($59M)
- SCS wins Tenaga deal
SHANGHAI Changhang Shipping, the bulker-operating unit of Sinotrans & CSC, said today it has signed a $45M coal contract of affreightment with Malaysian electricity company Tenaga Nasional
- China's commodity imports soared in July
CHINA's commodity imports posted mostly double-digit rises in July, customs statistics showed today
|AUGUST 8, 2013|
- Analysts Downplay Impact of Colombo's New Container Terminal
The opening of a new container terminal at Colombo in Sri Lanka, designed to attract transshipment traffic, is unlikely to have a serious impact on the dynamics of liner shipping in the Indian Ocean, analysts say. The $500 million Colombo International Container Terminal started operations Monday. With its deep draft and...
- Study: Deficient Language Skills Hurting New Zealand Exporters
New Zealand exporters are operating at a serious disadvantage because of a lack of language and cultural awareness skills, according to a new study. The DHL Express NZ exporter survey found that exporters faced serious business challenges because, where English is not the primary language of the market they export to,...
- Master Plan Approved for Port of Los Angeles
The Los Angeles Board of Harbor Commissioners today approved a new port master plan, updating the Port of Los Angeles's development policies and procedures for the first time in more than three decades. The new plan incorporates previous amendments and anticipated future changes to the use of property within the coastal...
- CEVA's Profit Up, Revenue Down in Second Quarter
CEVA Holdings today reported net income in the second quarter of 2013 of $197 million, up from $106 million in the second quarter of 2012. The gain was partially driven by a debt exchange transaction and the reversal of accrued interest expenses of $93 million that had been waived as part of...
- It's Really Happening: Customs' ACE Nears the Home Stretch
WASHINGTON - It's still more than three years away, but completion of Customs and Border Protection's long-delayed major cargo-processing system appears to be in sight. The agency plans on fully implementing the Automated Commercial Environment on Oct. 1, 2016, but that's largely dependent on Congress giving Customs roughly $420 million to finish...
- US Customs Releases Schedule for ACE Deployment
U.S. Customs and Border Protection has released a schedule for completing trade processing capabilities in its automated commercial environment by the end of 2016. ACE consolidates, automates and modernizes border processing, and when complete, will provide a single access point to connect the trade community with Customs and partner government agencies....
- CSX Purchases Phosphate Export Facility in Florida
CSX has acquired Eastern Associated Terminal in Tampa, Fla., from Ingram Barge. The phosphate export facility is adjacent to CSX Transportation's Rockport terminal on Tampa Bay, and the combined entity will be called Rockport Terminals. The deepwater port facilities on Tampa Bay will be used for exporting phosphate from Central Florida's Bone...
- Rising Profits Power Swift Purchase of Central Refrigerated
Swift Transportation, the nation's largest truckload carrier, expanded its refrigerated freight business by acquiring Central Refrigerated Service. Swift, a $3.5 billion company, paid $189 million in cash and assumed $36 million in capital lease obligations to acquire the $453 million temperature-controlled carrier. The acquisition gives Swift "immediate scale" in what the carrier...
- Trucking Federation Honors YRC Worldwide's Kelley with Halladay Award
Arlington, Va. - During their recent annual meeting the Trucking Association Executives Council honored J. Michael Kelley, chief sustainability officer and vice president of external affairs for YRC Worldwide Inc., with the distinguished J.R. "Bob" Halladay Award for his long time dedication to, and continued support of, the TAEC. The Halladay Award, named...
- AirCargoGroup (ACG) joins Global Project Logistics Network (GPLN) as a main vendor sponsor to provide Global Wholesale Airfreight Services
05 August, 2013 The Global Project Logistics Network is the largest and most recognized, non-exclusive, projects logistics network specializing in international project movements and specialized lifts. www.gpln.net "It is a win-win partnership, our enrolment to GPLN allows our offices access to the world of Projects and Heavy lift professionals, while ACG can now...
- AVEVA explains how 3D laser scanning can help shipyards survive the downturn
Manchester, UK - 8 August 2013: AVEVA today announced its publication of a new business paper - 'On the Beam: How 3D laser scanning technology brings new opportunities in ship refitting and conversion'. In this paper, AVEVA examines how rapid, accurate and non-intrusive 3D laser surveying can increase shipyard capabilities to meet the coming surge...
- Matson's Profit Soared in Second Quarter
Matson reported net income of $20.1 million for the second quarter of 2013, a jump from $7.8 million in the second quarter of 2012. Quarterly revenue for the Honolulu-based ocean carrier and logistics company was $416.6 million, increasing from $394.2 million in the same period last year. "We had another solid quarter, driven...
- FMCSA Clarifies 'Short-Haul' Exemption to HOS Rules
Following a federal court decision, regulators say they will "immediately" cease enforcing a rule requiring short-haul truck drivers to take daily 30-minute breaks. A federal appeals court Aug. 2 struck down the break requirement in new truck driver hours of service rules - but only for short-haul trucking operators. Other commercial truck...
- Flatbed Hauler Daseke Buys Central Oregon Truck
Daseke expanded its network of flatbed and specialized trucking companies by acquiring Central Oregon Truck Co., a Redmond, Ore.-based flatbed hauler. The acquisition of Central Oregon Truck follows the addition of Gaffney, S.C.-based carrier J. Grady Randolph in May. Terms of the transaction were not disclosed. "Central Oregon Truck Co. is truly...
- Q&A: Brokers' Higher Bond Worth Its Weight?
Q: We're a small motor carrier 3PL, and we're very concerned about the new broker bond requirement in the so-called Moving Ahead for Progress in the 21st Century Act. Under the law, brokers will need to carry a $75,000 bond as of Oct. 1, 2013, the effective date of MAP-21. That's...
|AUGUST 8, 2013|
- Economou on stage
DryShips may be forced to raise as much as $230m between now and 2014 to shore up its balance sheet if the shipping industry fails to stage a meaningful recovery, according to chairman and chief executive George Economou.
- Signal sued again
Five more lawsuits have been filed against US shipyard Signal International alleging human trafficking of Indian temporary workers.
- TEN teams with Jefferies
Tsakos Energy Navigation of Greece is looking to offload 4 million shares in a bid to raise the cash it needs to reduce debt and pursue ship acquisitions.
- 'Nothing terrible'
Commerzbank continued to be plagued by provisions on its shipping book in the first six months of 2013.
- Safe bulker locked in
Safe Bulkers has found fresh period employment for one of its panamax bulkers.
- TGP posts profit
Teekay LNG Partners watched its bottom line climb in the second quarter but the result was overshadowed by a dip in distributable cash flow.
- TNK loses more
New York-listed Teekay Tankers has posted a bigger second-quarter deficit as its revenue declined.
- Teekay Corp loss grows
Teekay Corp sank deeper into the red than Wall Street feared during the second quarter.
- Ardmore adds MR double
Ardmore Shipping Corporation is splashing some of its IPO cash on two optional products tankers at SPP Shipbuilding in South Korea.
- Western Bulk goes Greek
Ariston Shipping of Greece has announced a new charter for one of its bulkers.
- Northern clubs to unite
A merger that will create a substantially bigger force in the marine insurance market is planned by the North of England Club, already the second biggest of the protection and indemnity clubs and top fishing industry mutual Sunderland Marine.
- Siem in $2m scrap pact
Siem Shipping has thrown its least efficient vessel on the scrap heap.
- SCI loss grows
Shipping Corp of India (SCI) has seen its loss grow in the first quarter as revenue fell away.
- Pacific beats Street
Pacific Drilling has turned in a stronger than expected set of second quarter numbers.
- HSH puts up ports cash
Germany's HSH Nordbank has continued to plough money into the ports sector with a new deal in the Netherlands.
- Ill crew flown home
Two crew who fell ill on TMT's stranded aframax Iron Monger 3 have been flown home to India from the UAE.
- Dry scrapping sliced
Dry-cargo demolition has dropped by over 50% this year, according to the latest data from Braemar.
- GE splashing the cash
India's Great Eastern Shipping will spend up to $46m on a share buy-back as its first quarter profit jumped.
- 10 years later...
Denmark has brought in a salvor to remove the last of the oil from a Cosco bulker that sank in 2003.
- Modec expects more
Favourable currency movements have led Modec to hike its full year profit forecast by a quarter.
- TUI cruise loss jumps
The cost of launching a new ship and a vessel fire have sent losses soaring at German cruise player TUI.
- Shipping spurs WW ASA
Wilh Wilhelmsen ASA has surprised investors with a stronger than forecast second quarter performance.
- Dof prolongs pipe-laying
Norway's Dof has extended a charter for a pipe-layer in Brazil by two years.
- Majority back Yinson
Nearly three-quarters of the investors In Fred Olsen Production (FOP) have backed a takeover by Malaysia's Yinson Holdings.
- Costs dent SBM Offshore
SBM Offshore has reported a weak set of second quarter results with profits down almost 90% on a year ago.
- EMAS wins Gabon gig
EMAS AMC, the subsea services division of EMAS, the vessel brand of Ezra Holdings, has won a $120m contract from Gabon.
- OOIL posts interim loss
OOIL, the parent of Hong Kong liner giant OOCL, has posted a surprise loss for the first six months of 2013.
- Eagle back in the red
Eagle Bulk Shipping has returned to the red in the second quarter following its profitable first three months of 2013.
|AUGUST 8, 2013|
- CBP shifts program managers, Gina to retire
The retirement of Al Gina, assistant commissioner for international trade, was among several personnel moves announced Thursday by U.S. Customs and Border Protection Deputy Commissioner Thomas Winkowski at COAC.
- FMCSA officially removes break provision from HOS
The change in the agency's rules mirrors the result of a court opinion passed down on Aug. 2, which said drivers who operate within a 150-mile radius of their reporting location do not have to abide by the rest requirement.
- OOIL's outlook: 'Margins to remain thin and volatile'
Orient Overseas (International) Ltd. (OOIL), parent company of container liner company OOCL, said it had a loss of $15 million in the first half of 2013 compared to a profit of $117 million in the first half of 2012.
- U.S. Customs creates toll free number for CEEs
- Chiquita saves from shipping reconfiguration
The banana shipper, which operates Great White Fleet, reported in its second quarter results that reconfiguration of its European shipping system, initiated in the third quarter of 2011, provided more than $12 million in savings.
- Obama talks ports on Leno show
- July U.S. import volume reaches 6-year high
- Freight shipments down, expense up in July
- Matson says Hawaii volumes up modestly
- Cargolux, unions agree on CWA
- Cargo Airport Services buys IAS
- New head at AirBridgeCargo
- Maersk sells drayage company
- October date penciled in for CBP's Trade Symposium
- MOL TP reliability up in 2Q
- Laufer Group opens at JFK
- FMC reviews 34 OTI license applications
- AIT expands to Toronto
|AUGUST 8, 2013|
- Technology firm's scrubber monitoring system gains ground
Emsys system has the capability to measure multiple gases including SOx, NOx, CO2, CO, CH4 and PM.
- Mixed outlook across region
Prompt supplies could be affected by public holiday in Fujairah.
- Weaker pricing seen across bunkering hubs
Prices easing across the board.
- Newly listed shipping company makes tanker order
Irish company raised over $100 million from the capital markets.
- Indian ship arrest reaches conclusion
Korean traders were out-of-pocket for over a year.
- SCI runs to quarterly loss
Bigger loss compared to a year ago despite falling costs.
- Norwegian marine tech companies tie the knot
Research firm acquires marine equipment maker.
- Asian bunker prices fall
Offices in Singapore closed for public holiday.
- O.W. Bunker expands Tolson's role
Appointed Regional Manager for company's North American operation as it looks to expand.
- Rand Logistics profits down on lower fuel costs
Company made downward adjustments to fuel surcharges.
- OOIL in the red for H1
High bunker costs among challenges faced in the first half, chairman says.
- Matson quarterly profit surges
Revenue also up.
- Fuel-saving ship in service on the Great Lakes
The Thunder Bay uses 15% less fuel and releases fewer emissions.