Corinth Canal lifts profit estimates for 2013 Greek waterway company turns a corner after end of Sea Containers era
Two more Greek ferry lines anchored in red Anek and NEL join the ranks of first-half loss-makers, though results improve year on year
UK flag growth 'disappointing', admits transport minister Ship register needs growth to boost employment and nation's global standing
Changing faces Freight forwarder Allport Cargo Services is looking to eCommerce and new markets for future growth
World Fleet Update - August 2013 Flood of containership newbuildings continues, but scrapping is stymied by falling rates
US import box volumes forecast to rise 5.1% this month Retailers' inventory building is said to be making up for slow imports earlier in the year
Owners should make optimal fleet size a priority Conference speakers disagree on what is ideal number of vessels
German owners with a solid business plan can still tap liquidity NIBC Bank's director of shipping tells Hamburg conference that there are options available
Lloyd Fonds chief looks to innovation to woo Germany's small investors KG houses are not out of a job but the entire niche industry will need fresh thinking, says Teichert
Panamax deployment on intra-Asia trade levels off Conference told vessel levels on this route have reached saturation point
German owners denied bank funding could find Oslo attractive Norway's bond market is straightforward to access and requires less documentation than New York, Hamburg conference told
Illegal bunkering in Nigeria 'shameful' Unsafe transfers causing oil spills involve global fleet, LISW seminar is told
Maersk Line shows its rivals a clean pair of heels Danish line bucks the trend as most other carriers announce losses
Panalpina takes a step forward Forwarder outperforms the market in terms of ocean freight volume growth
Trade Route Intelligence: Sea change Container lines have reduced capacity on the North America-Middle East trade lane.
Derivatives can protect owners against counterparty risk Clarksons Securities chief offers solutions to current volatile market
Decision time for container weighing TT Club's risk management director Peregrine Storrs-Fox assesses how historians may judge the supply chain industry in the wake of this month's debate at the IMO
Data Hub: Shipper Sentiment Survey, Americas New tonnage and trade lane moves cause service disruption
Bunker Quarterly: Are prices set to rise? Carriers welcome lower fuel costs in the quarter but unrest in the Middle East is making everyone nervous
German ship finance seeks a new model Fresh lenders enter the market as established players admit there has to be change
Banks need to clarify distinction between court and private sales Ince & Co partner tells Hamburg conference that each method has pros and cons
Turkish box port sector could get more European money EBRD weighs $75m loan to help with construction of deepsea terminal
Counting the cost Insurers await deluge of claims from MOL Comfort casualty
Judge allows Korea Line sale to proceed Injunction brought by two bidders is thrown out, clearing preferred bidder SM Group to move forward
Minsheng Leasing revealed as lessor for MSC 18,400 teu newbuildings Second Chinese lessor places orders in South Korea for European owner
Too many eggs in too few baskets? Never in the field of international trade will so much be carried for so many by so few ships, write Mike Garratt and Antonella Teodoro of MDS Transmodal
China makes its mark in demolition market While volatile currency exchange rates hit others in south Asia, Chinese buyers push on
Trade Statistics: North American downturn Imports into North America decline by 4% in the second quarter
Reinsurers call for separate wreck removal pillar in XoL contract Move gains support as costs increase for Costa Concordia and Rena removals
Paragon signals share sale NASDAQ-listed Paragon Shipping today filed a registration for an offering to fund acquisitions from a company owned by Paragon CEO Michael Bodouroglou
ULCS orders defy box sector's difficulties BOX CARRIERS are likely to continue ordering ultra-large container ships despite their difficulties in restoring profitability on long-haul trade
VLGC rates seen buoyed VLGC RATES might depart their present softening trend and feel upward pressure in the next two weeks, brokers told Fairplay today
UK raises training budget THE UK government has increased money it budgets for seafarer instruction tol support 200 more trainees per year
Insurance product targets abandonment A NEW insurance instrument for flag states covering repatriation of abandoned seafarers is merely aimed at taking the pressure off shipowners, critics alleged at a meeting in London today
China's marine equipment imports rebound CHINA's marine equipment imports rebounded 16% month-on-month in July to $381M, Beijing said
Box recovery threatened A LINER analyst warned today that the surge in orders for ultra-large container ships might prevent full recovery in that sector until after 2015
Huanghua handling rises NORTH China's Huanghua comprehensive port area in Hebei Province handled 138,832teu (1.59M tonnes) for the first eight months of 2013
Ro-pax scheme planned A RO-PAX service is planned to provide a direct link of Sabah in eastern Malaysia with Palawan in western Philippines
Bulker arrested in Singapore TURKISH bulker Reis-G was arrested in Singapore over the weekend by law firm Oon & Bazul, according to records from the admiralty sheriff
Tanjung aims to raise $5M MALAYSIA's Tanjung Offshore is aiming to raise about 17M ringgit ($5M) from the private placement of 29
Drybulk stock rally gathers steam US-LISTED drybulk equities added to their price resurgence today as rate recovery hopes prevailed among investors
China's Exports Surge China's export growth last month outstripped most forecasts, with shipments to the U.S. seeing significant expansion. Total exports last month from China increased by 7.1 percent year-on-year, up from 5.1 percent year-over-year growth in July. Outbound shipments of electronics, textiles, toys, apparel and machinery were all more than 6.5 percent higher...
RoadOne IntermodaLogistics Appoints New Executive Team Vincent Castagno Mark Pontarelli Larry Cuddy Paul Sullivan RoadOne IntermodaLogistics, an intermodal, distribution and logistics services company, has appointed Larry Cuddy as vice president of commercial strategy and client solutions, Vincent Costagno as vice president of sales, Mark Pontarelli as vice president of agent development and Paul Sullivan as vice president of finance. Cuddy has...
American Airlines' Cargo Volume Improved 5.7 Percent in August American Airlines' cargo volume changes year-to-date. Full-size image The parent of American Airlines, AMR Corp., reported August cargo figures for its principal subsidiary, showing an increase to 150,516 million ton miles, up 5.7 percent from 142,458 million ton miles reported in August 2012. For the first eight months of 2013, ton miles dropped...
CTS: North American Exports to Asia See Largest Drop of 2013 North American exports to Far East Asia Full-size image Containerized exports from North America to Far East Asia experienced a year-over-year dip of 9.3 percent in June 2013, according to data from Container Trades Statistics Ltd. This is the largest decrease in 2013 so far, and the fourth straight month of declines...
Panama Canal Authority Discusses Tolls for Car Carriers The Panama Canal Authority presented an analysis of the potential pricing structure for car carriers for the canal.The Panama Canal Authority has met with the Japanese Shipowners Association and several car manufacturers in Japan to discuss the canal's future toll structure. During the meetings, the Panama Canal Authority presented an analysis...
Survey Warns London at Risk of Losing Shipping Predominance Big Ben and Westminster Bridge at dusk.London is in danger of losing its position as a global maritime center. Although the city still maintains its predominance in the maritime world, it is at risk of declining influence over the next decade, according to a survey of young shipping professionals. Almost 70 percent...
EU, Somalia Meet Again to Boost Maritime Security Members of Somalia's government and the EU met to discuss maritime security.Members from Somalia's government and the European Union have again met to discuss how to strengthen maritime security and economic development in Somalia. The European Naval Force Somalia, also known as Operation Atalanta, hosted the president of Somalia, Hassan Sheikh...
US Steel Exports 'Below Healthy Levels' in July U.S. exports of steel year-to-date. Full-size image U.S. steel exports in July totaled 1.087 million tons, rising 2.2 percent from 1.064 million tons in June and 0.3 percent from July 2012, according to government reporting. "[North American Free Trade Agreement] steel demand improved in July compared to June by 6 percent, offsetting declines...
Spain-South Africa Service to Be Merged With SAECS Member lines of the Southern Africa Europe Container Service, including Deutsche Afrika-Linien, Maersk Line, Mitsui O.S.K. Lines and Safmarine, have decided to merge the current service with Med-Shuttle/225 Service. The Med-Shuttle/225 Service, operated by Maersk and Safmarine between Algeciras, Spain, and South Africa, on which MOL and DAL participate as slot...
FREE Webcast: Conquering Export Classification Challenges: A Case Study & Best Practices Export classification is a complex, layered process, but the obligation of proper declaration falls to the U.S. exporter, and the definition of 'export' is wide, so mastering it is vital. In this webcast, we will examine the challenges of classification in the U.S., the intricacies of the U.S. Export Control...
Exporting 101 for Small Businesses Virtually every small business is interested in expanding its customer base. Exporting goods and services provides a tremendous opportunity for small businesses to reach new markets, find more customers and contribute more to the U.S. economy. The International Trade Commission reports that small businesses that exported saw average revenue growth of...
Charleston Harbor Deepening on Track CHARLESTON, S.C. - If the necessary approvals are delivered as planned, the Port of Charleston deepening project will be approved in late 2015, and the South Atlantic gateway will have a 50-foot channel five years later. "Clearly, we want it finalized within this decade," James Newsome, president and chief executive officer...
SUNY Maritime College President Announces Resignation September 9, 2013: SUNY Maritime College President Rear Admiral Wendi B. Carpenter, USN (Ret.), announced on Friday, September 6, 2013, that she will step down shortly after the completion of Fall semester.Admiral Carpenter has served as President since August 31, 2011, and has decided to step down in order to...
DHL provides tailor-made logistics solutions to showcase the 2014 Spring collections at Mercedes Benz- Fashion Week DHL global network offers retailers efficient transit times from remote manufacturing locations worldwide E-commerce shipping solutions help designers go global New York, NY, September 9, 2013: As the world's top designers and fashion brands bring their Spring 2014 collections to the runway, DHL returns as the Official Logistics Provider for Mercedes-Benz Fashion Week...
Avalon Ranked For 2013 Best Places To Work In Insurance CHICAGO (Monday, September 9th, 2013)- Avalon Risk Management is proud to announce that for the third year in a row, Avalon is being recognized by Business Insurance's 2013 Best Places to Work in Insurance. Business Insurance will reveal the final rankings in a special report in its October 21stissue. Lisa Gelsomino, President/CEO of Avalon commented...
Transportation Intermediaries Association Announces a New Goal as Part of its Veteran Initiative Alexandria, VA Sept 9, 2013 TIA is proud to announce an ambitious new goal for its Veteran Initiative program. By the end of 2014, it is the Association's goal to have 100 veterans hired by its members. TIA, starting very early in2013, has been working to help returning and disabled veterans find gainful employment with...
Container Ship Order Surge to Delay Liner Recovery Beyond 2015 Triple E vessel Majestic Maersk in Ningbo, China.The recent surge in orders for mega-ships risks delaying the recovery in liner shipping beyond 2015, according to industry analyst Alphaliner. The container ship order book has soared to a 14-month high of 3.67 million 20-foot-equivalent units, or 21.5 percent of the existing fleet,...
Senesco seals order A small US shipyard appears to have firmed up a contract to construct six container barges that will be used to service municipal waste stations controlled by the City of New York.
Cape rally continues Capesize bulkers trading in the spot market continued to gain traction Tuesday and many believe rates will remain firm in the foreseeable future.
Island better off in Q2 Norwegian offshore vessel owner Island Offshore has reported a stronger second quarter thanks to firming spot market rates.
KDB sets DSME timeline Korea Development Bank has put a timeframe on its plan to sell its stake in Daewoo Shipbuilding & Marine Engineering (DSME).
Paragon adds ultras Paragon Shipping is selling $25m of shares to add two bulker newbuildings to its fleet.
SCF in for Zvezda State-owned tanker company Sovcomflot is joining a consortium to buy into Russia's big new Zvezda shipyard.
Crew stays put A crew of 16 Ukrainians is refusing to leave a bulker arrested in Cameroon since February until they get their pay.
CSIC seeks $1.4bn China Shipbuilding Industry Corp (CSIC) has unveiled plans for a giant fundraiser.
Bulkers in port smash A Korean bulker is aground outside Chittagong port in Bangladesh after a collision with another dry cargo vessel.
UASC to join top table United Arab Shipping Company's (UASC) recent giant boxship order will propel the company into the big league of containership operators.
Viking Line hits high Finland's Viking Line has posted record passenger figures over the summer thanks to its new cruiseferry.
Turkey's terminal support The European Bank for Reconstruction and Development (EBRD) is considering investing $75m in a new container terminal in Turkey.
Unifeeder expands Denmark's short-sea line Unifeeder is starting a new weekly run from France to Russia.
Palumbo performs "surgery" A Grimaldi ro-ro has received a new nose at Palumbo Shipyards in Malta, an operation the yard has called "high naval surgery."
Siem ties up two Siem Offshore as entered into charter contracts for a pair of offshore support vessels in Africa.
Smart to dump coal South Africa has given the go-ahead for salvors to dump 10,000 tonnes of coal into the sea from the stricken bulker Smart.
Axis back at Cosco Axis Offshore, the J Lauritzen and HitecVision joint-venture, has returned to China to order a second floating accommodation unit.
Ray car carrier aground A Ray Shipping-owned car carrier is reported to have gone aground off the southern coast of mainland Japan.
Finland going green Government provides EUR 30m to shipowners for eco-retrofitting work.
Somalia warning Seafarers are being warned that improving conditions off the coast of Somalia could lead to the resumption of piracy attacks.
Seven eye ENVC Seven investors have registered to bid for concessions to use the land and infrastructure of struggling Portuguese shipbuilder ENVC.
Valemax touches bottom One of Vale's new Valemax Very Large Ore Carriers (VLOC) has reportedly touched bottom at a port in Brazil.
Five more for Taizhou China's Taizhou Kouan Shipbuilding has continued to rack up more bulker orders, adding up to 10 ships to its backlog.
Oceanografia eyes bonds Oceanografia says it is contemplating a $300m bond issue to help fund the purchase of two large offshore vessels.
US volumes to grow US container imports are expected to see a year-on-year growth of 5% in September, a trade body has predicted.
Turkish bulker held Singapore's admiralty sheriff has reportedly arrested a second Turkish-owned bulker in as many weeks.
Port of Charleston: Deeper is No. 1 priority This year the port has seen 300 post-Panamax ships call and port CEO Jim Newsome said once the Panama Canal opens up, he expects the size of "work horse" ships calling the U.S. East Coast to be in the 8,000-10,000 TEU range.
Spending on demand planning tools to rise
House lawmakers told FMC's proposed OTI regulation 'burdensome' NCBFAA official warned FMC's initiative "would - if implemented - significantly increase unnecessary burdens and expense on OTIs, raise significant due process concerns and create needless administrative burdens on the agency's own staff."
CSX completes first phase of National Gateway The Jacksonville, Fla.-based railroad said double-stacked intermodal service is now possible between its existing terminal in Chambersburg, Pa., and the new high-tech, intermodal hub in North Baltimore, Ohio.
Washington Notebook: U.S. Chamber says all states gain from WRDA passage
TCG, TMW Systems bundle products
Chinese decision to aid Port of Virginia lumber exports
Long Beach releases video on Middle Harbor progress
time:matters adds Amsterdam same-day service
STB beefs up interchange commitment reporting rules
Analyst: No impact from HOS rules
Yusen Logistics opens Jaipur branch in India
Big August for autos could boost transportation sector BB&T Capital Markets pointed out that August sales of 16 million vehicles, which has been predicted by J.D. Power & Associates, would represent the largest sales volume in a single month since November 2007.
Middle East tensions trigger rise in bunker hedging 'There has been some scrambling to cover against further rises,' says ship broker.
IFO price still falling in Fujairah Mixed price movements in Suez.
Prices softening across Europe Wide price-spreads in Rotterdam.
Hong Kong terminal to suspend bunker operations Chevron is conducting annual inspection.
20% rise in commercial maritime vacancies Hiring patterns suggest maritime businesses are 'much more positive about the future'.
Firm seeks patent for LNG bunkering method Technology seeks to prevent the evaporation of LNG during bunkering.
More details emerge on tanker auction Bunkers onboard to be paid for separately.
India files complaint over tanker's detention Iranian authorities have 'downgraded' the tanker's alleged deficiencies.
Asian bunker prices softening Except in the South Korean port of Busan.
Government gives cash for scrubbers Finland to support eco-retrofits on vessels.
Oil spill response test Exercise will simulate a response to a collision and oil spill.
Irving Oil to construct marine terminal Engineering and design works expected to begin in 2015.
Titan Petrochemicals: Auditor will not renew its appointment Ernst & Young to leave appointment as auditor of the firm with effect from September 30, 2013.
Conglomerate expands operations at Novorossiysk Launch of new terminal 'an opportunity to gain more revenue', says Delo Group spokesman.
Frontline 2012 takes delivery of fuel-efficient MR vessel Front Arrow is the first vessel to be delivered under company's newbuilding programme.
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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