Kuehne+Nagel is 'satisfied' with flat first-quarter earnings Forwarder tackles efficiency as eurozone crisis continues
Turkey plans harsh fines for pollution P&I clubs warn shipowners to avoid spills and leaks or pay a hefty price
They're grrreat! Kellogg's modal shift highlights the unsung advantages of inland waterways
NewLead renegotiates US coal deals Shipping firm closes excavation rights and extends funding period
Kellogg switches cereal boxes from road to Manchester Ship Canal Shuttle service will allow cereal giant to cut 40,000 road miles and 61 tonnes of CO2
Why distress buyers may get bitten Rates could stay at rock bottom as the cost of operating and maintaining ships soars
Greek ferries to be idled as unions protest against threat to jobs Federation general secretary says measures will add to 50% unemployment toll
A price too high As soaring costs kill Browse LNG project, analysts wonder which will flounder next
Counting the cost of Somali piracy Experts differ wildly over the sums involved
US lifts sanctions against Tanker Pacific State Department says three firms close to Ofer family need not be punished for tanker sale with IRISL any more
Pirates will return if shipping drops its guard First quarter sees just 66 attacks worldwide
European shipping rallies against Brussels vessel-recycling tax Finnish shipowners join European and Asian associations to oppose levy on port calls
LNG carriers' daily rates to dip below $100,000 Earnings head for an 18-month low as global fleet expands
Maersk adds Busan to AE10 South Korea port expects 5% annual box growth for rest of decade
CMA CGM launches customer satisfaction survey Box carriers put service at the heart of the marketing agenda
Coscol slips into the red Weak rates hurt multipurpose vessel firm's first-quarter results
CSCL aims for annual box growth of up to 6% But Chinese state carrier is less bullish about margins
Bahri profits dip Saudi owner stays sanguine following merger with Vela
Indian subcontinent buyers boost demolition rates Yards in Bangladesh and Pakistan restock ahead of new budget in June
Bedranowsky leaves Deutsche Bank for DVB Appointment will take effect by July
Chilean court upholds conference system Bid to end box lines' antitrust immunity rejected
Russian deal could become boon for STX O&S STX OFFSHORE & Shipbuilding could benefit from a new LNG plant to be built by Rosneft and Exxon Mobil
Box ship orders surge 350% ORDERS of post-Panamax box ships and ULCSs in March powered a 350% surge in newbuilding activity year on year for the month
Triple attack launched on EU breaking proposals GLOBAL shipping bodies have formed an alliance to assail European Parliament amendments to proposed new EU breaking rules
Tug crew saved off California FOUR TUG crewmen have been rescued from a life raft after their vessel sank off northern California while towing a barge
US reprieves Ofer-tied units SANCTIONS applied by the US two years ago against three companies tied to the late Sammy Ofer have been lifted
Turkey to push on with 'Kanal Istanbul' TURKEY'S government has pledged to push on with plans for a 45km canal aimed at easing Bosporus shipping congestion
Returning migrant boats 'act of piracy' TURNING back boatloads of refugees could be "an act of piracy" in some circumstances, according to a former Australian defence chief
Cowen shipping coverage cut INVESTMENT bank Cowen has dropped coverage of nine US-listed shipping companies, citing "finite research capacity"
Bulker surge rallies Japan's shipbuilders AFTER their orders sank to a four-year low in February, Japanese shipbuilders recovered last month on a surge in bulker orders, the Japan Ship Exporters' Association said today
China secondhand trade rises CHINA's secondhand vessel trade dwt rose 21% month on month in March, the China Ship Trade Information Platform said
Japanese-built Panamax bulker demand climbs RISES recently in Panamax freight rates and lower asset prices have apparently prompted a climb in demand for Japanese-built modern Panamaxes
Investment income masks Ezra's core losses SINGAPORE-based offshore contractor Ezra's core losses of $300,000 for 2QFY2013 were masked by investment income that resulted in net profits of $29
Pre-monsoon purchases drive up breaking prices HIGH-profile demolition sales are being concluded as South Asian end-buyers compete for tonnage before the June opening of the monsoon season
MOU Signed for Repairs of Lakshadweep Vessels Cochin Shipyard, Union Territory of Lakshadweep (UTL) and Lakshadweep Development Corp. in India have signed a memorandum of understanding to repair ships owned by UTL. UTL has 25 ships, including four cargo vessels, two tugs, one tanker, one liquefied petroleum gas cylinder carrier and 17 passenger vessels. All UTL vessels are...
Port of Virginia's Container Volume Improves Port of Virginia's import TEUs rose 13.1 percent year-over-year in March.The Port of Virginia handled 179,518 20-foot-equivalent units in March, increasing 12,799 units, or 7.7 percent, compared with March 2012. Monthly export TEUs tallied 93,172, and import TEUs reached 86,346, rising 3.1 percent and 13.1 percent respectively. "We've seen growth in January,...
Report: Hutchison Port Holdings' Earnings Will Be Hurt by Hong Kong Strike Hutchison Port Holdings' earnings are expected to struggle in fiscal year 2013, as labor disruption at the Port of Hong Kong is likely to drive up wages and limit Hongkong International Terminals' subcontracted labor flexibility, according to a report by Citi Research. Revenue at Hutchison Port Holding's Port of Hong Kong...
US Retail Sales Lose Steam in March Retail and Food Service Sales through March 2013 Full-size image U.S. retail and food service sales inched down 0.4 percent in March 2013 to $418.3 billion for its biggest drop since June 2012, according to the latest retail report from the Census Bureau. Monthly changes in sales have remained within a range...
US Footwear Imports Down for Sixth Consecutive Quarter U.S. Footwear Imports Full-size image Containers of footwear imported through U.S. ports continued to show declines in year-over-year comparisons in the fourth quarter of 2012. Imports slid 4.6 percent to 95,962 20-foot-equivalent units from 100,636 TEUs in the fourth quarter of 2011. Imports have been falling year-over-year since the third quarter of 2011....
Port of Tallinn Extends Deadline for New Container Terminal he supervisory board of the Port of Tallinn in Estonia has agreed to extend the deadline for completion of the Muuga container terminal by 12 months until July 2014. Rail Garant Estonia, the developer of the terminal, submitted an application to extend the deadline after numerous legal disputes hindered the development...
MSC to Hike US-Australia, New Zealand Rates in June Mediterranean Shipping Co. will increase rates for all export cargo on its trade from the California ports of Oakland and Los Angeles to Australia and New Zealand, starting June 1. The hike will be $200 per 20-foot container and $400 per 40-foot container, the container carrier said...
Drewry: Bigger Ships in Trans-Pacific 'Beggar Belief' Actions by some shipping lines to add vessel capacity onto the eastbound lane of the trans-Pacific trade to the U.S. West Coast may depress vessel utilization levels for the rest of the year, according to Drewry Shipping Consultants. Even though eastbound trans-Pacific cargo demand declined by 8.8 percent in the first...
Kuehne + Nagel's Profit Jump Driven by Air Freight, Contract Logistics The Kuehne + Nagel Group today reported its net income in the first quarter of 2013 was 134 million Swiss francs (about US$144.1 million), jumping 97 percent from $73.1 million in the same quarter in 2012. Quarterly turnover was $5.5 billion, improving 5 percent compared with $5.2 billion in the first quarter...
Barcelona Terminal Employs New Asphalt Solution The Barcelona Container Terminal, part of Grup TCB, has introduced an asphalt pavement solution that will be applied on its yard as part of its proposed expansion project, scheduled for completion in mid-2013. Stone mastic asphalt has an increased resistance to cracking and rutting compared to conventional asphalt mixtures. It is...
Hapag-Lloyd to Raise Asia-Latin America Rates in May Hapag-Lloyd will boost rates for all cargoes and container types on several of its trade routes, starting May 15. From East Asia to the Caribbean, Central America's east coast, Panama, South America's east coast, South America's west coast, Central America's west coast and Mexico, the container line said, the increase will...
Evergreen, Cosco, Zim to Upgrade ESA Service Starting May 11, Evergreen Line will team up with Cosco and Zim Integrated Shipping Services to upgrade the fleet operating its Far East-to-South America service, ESA, linking China, Singapore and South America's east coast. A total of 10 ships of 8,500 20-foot-equivalent units will be deployed in the new ESA service,...
MOL Expands Service to Kobe Mitsui O.S.K. Lines' revamped PSX port rotation.Mitsui O.S.K. Lines has revamped its Pacific Southwest Express, PSX, service deployment to provide additional port coverage at Kobe, Japan. Combined with the CNY and JAS services, MOL will now offer service from Los Angeles and Oakland, Calif., to Kobe three times per week. The new...
Rotterdam Low Sulfur Bunker Fuel Continues to Decline Bunker Fuel Prices - Rotterdam Full-size story Spot rates for low sulfur bunker fuel last week extended their decline, falling 12 percent or $86.70 over the past eight weeks, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services, Inc. Despite two flat weeks, the past two...
Port Saint John's Container Tonnage Jumps 72 Percent Port Saint John in New Brunswick reported container tonnage in the first quarter of 2013 rose 72 percent year-over-year, from 63,984 metric tons to 110,128 metric tons. Quarterly container traffic totaled 16,645 20-foot-equivalent units, rising 52 percent from 10,978 TEUs in the first quarter of 2012. Additionally, PotashCorp recorded a record 277,249...
Clean Air Debate Delays Projects in Inland Empire Clean air regulators are killing growth in the nation's largest hub of warehouses and distribution centers just as the region is emerging from the economic recession, developers of industrial real estate in the Inland Empire say. In the words of John Husing, Southern California's Inland Empire economist, the South Coast Air...
Global 3PLs Temper Growth Outlooks There's good and bad news for third-party logistics providers. First, the good: The industry is fundamentally strong and 3PLs are growing. Now the bad: That growth is slowing, and many 3PLs are scaling back expectations for profits and growth amid uncertainty about the global economy. With pressure on margins and profits,...
TT Club's Kemp Says Brokers Should Look Towards the Middle East Andrew Kemp, TT Club's regional director of freight transport for Europe, the Middle East and Asia, has suggested that insurance brokers take note of the future of the Middle East, particularly Dubai in the United Arab Emirates. "Insurance brokers should be aware that many freight forwarders, carriers and logistics operators in...
Carisbrooke slapped with citation The US Coast Guard (USCG) has accused a bulker controlled by UK operator Carisbrooke Shipping of violating Annex I of the International Convention for the Prevention of Pollution from Ships (Marpol).
Nokta goes Global Veteran equity analyst Omar Nokta is poised to burst back into the shipping sector with a new senior research role at Houston-based shipping bank Global Hunter Securities (GHS), market sources tell TradeWinds.
DSF diagnoses threat Newbuilding prices could fall by as much as 10% by the end of 2013, according Danish Ship Finance (DSF).
China brokers 'set to boom' Shanghai shipbroker market set for surge in growth now that regulatory framework is in place but some rules need to change, says local market leader.
NewLead closes coal deal NewLead Holdings has closed a revised deal to exploit coal reserves in the United States though it has yet to secure financing for the purchase.
Break-even the new profit Chronic oversupply of vessels in most markets caused by the record volume of newbuilding deliveries of the last few years mean both shipowners and shipyards are today focused on mere break-even and survival rather than profits, says a leading shipbroker.
Two up, one down RS Platou Markets has upgraded both Nordic American Tankers and Diana Containerships ahead of the first quarter results season.
Sincere slides Taiwanese bulker owner Sincere Navigation has posted a dip in 2012 earnings as revenue declined.
Fesco lines up bond sale Russia's Fesco has alerted investors to a potential notes issue to reduce other debt.
Scorpio starts early Scorpio Tankers has introduced its first dividend just over three years after its New York IPO.
Pallas poised to expand Swedish tanker owner Pallas Group AB is close to adding a new bunker vessel to its ranks.
Box trio team up Evergreen, Cosco and Zim are joining forces for a containership run into South America.
Craig bags $63m BP job North Star Shipping has clinched a £63m ($98m) contract with global oil major BP for support services in the North Sea.
Heung-A adds boxship South Korea's Heung-A has reportedly ordered its biggest containership yet in Japan.
A drag for dry Disappointing economic data from China is expected to prove a drag on dry-cargo stocks this week, a leading analyst warns.
Kaitaki kept on New Zealand's Interislander ferry group has extended its bareboat charter of an Irish Ferries ro-pax for another four years.
Another jack-up for Keppel Keppel Corp has racked up its third jack-up rig building contract in quick succession.
Mc-Kinney Moller's yacht up for sale A year after the death of Maersk Mc-Kinney Moller, his beloved sailboat Klem VIII is up for sale in Denmark.
Naf bulker busted Naf Shipping of Greece saw its only bulker detained in the UK during March.
Piracy down again Shipowners are winning the war against pirates with the news that the number of attacks has fallen sharply again in the first three months of the year.
Crew saved after sinking Seventeen seafarers have been rescued from a sinking Chinese cargoship off South Korea.
Cowen cuts nine Cowen Securities has cut coverage of a host of Wall Street's best-known shipping stocks due to a lack of resources.
MES predicts profit plunge Japan's Mitsui Engineering & Shipbuilding (MES) is now expecting to post a loss in its financial year ending 31 March.
Goseong gets busy Goseong Offshore & Shipbuilding, STX Offshore's new Korean shipyard, has started work on its first new ship.
Bahri sees spot slump Saudi Arabian tanker owner Bahri posted a dip in first quarter numbers due to a drop in spot charter rates.
Syncro scraps VLCC Syncro Shipping has thrown the oldest of its three VLCCs on the scrap heap.
Bedranowsky coup for DVB DVB Bank has grabbed Deutsche shipping king pin Ralf Bedranowsky to replace retiring boss Dagfinn Lunde.
Murmansk on the block Russia is to sell off its 25.5% stake in loss-making tanker and bulker owner Murmansk Shipping this year.
Vosco plunges to loss Vietnam Ocean Shipping (Vosco) has fallen into the red for 2012.
Total LNG deal sealed Samsung Heavy Industries of Korea has confirmed an order for two new LNG carriers for charter to Total.
Torm to de-list in US US shares in Torm have dropped over 20% after the company said it was going to withdraw its listing from Nasdaq.
US lifts sanctions Three Ofer group companies caught up in sanctions against Iran have been given the all clear by the US State Department.
ICBC eyes bigger role China's ICBC Financial Leasing says it is looking to double the value of its ship asset portfolio this year.
TDW back at Leevac Tidewater has returned to Leevac Shipyards Jennings for a series of up to four PSV newbuildings.
Canada boosts cold ironing Canada is launching a second round of funding under its shore power technology program to improve air quality at local ports.
U.S. agrees to let Japan enter TPP talks Japan last month signaled its willingness to join the TPP and would become the 12th nation in the talks once approved by the current partners. As the world's third largest economy, it's participation would make the trade bloc extremely powerful.
APEC nations achieving supply chain efficiency goals Member economies are on track to meet their target of a 10 percent improvement in the region's supply chain performance by 2015, in terms of time, cost and uncertainty, according to an internal assessment released Sunday.
Atlanta looks to Miami for cargo volume To increase their cargo presence, officials at the Atlanta Hartsfield-Jackson International Airport have their sights set on attracting Latin American carriers, perhaps even convincing some to leave their standard hub, Miami International Airport.
NYSA approves contract with ILA The vote by employers followed approval of both the local contract in New York and master contract covering 14 container ports on the U.S. East and Gulf coasts by ILA rank-and-file members earlier in the week.
Docker strike continues in Hong Kong News reports said Tuesday's negotiations between dockworkers and their employer would be the third round of talks mediated by the Hong Kong's Labor Department in the past 20 days of the strike.
K+N's revenues up by 5.4%
BDP forms Colombia joint venture
GSF launches safety campaign
Bahri's earnings reflect drop in tanker rates
EU minister trumpets trade agreement ahead of meeting
MSC raising U.S. West Coast-to-Oceania rates
Carriers upgrade Far East-South America service
Emirates launch customer for African joint venture
Avails of 'on-spec' fuel oil to remain tight Market needs more low-density material
Evergas buys Wartsila 'integrated solution' for LNG carriers Package integrates cargo-handling, gas supply system and propulsion machinery.
Cape Town MGO prices reset after local refinery maintenance Data shows fall of $127.50 pmt.
Prices soft in European markets Good demand in Gibraltar and Piraeus.
Bunker levy 'more straight-forward' than ETS But researchers warn against any move towards regional schemes.
Ship Service hires trader Position will be as trainee to begin with.
Number of pirate attacks down Global piracy has fallen significantly in the last year.
Shell looking to sell its downstream business in Italy But lubricants and marine business will be unaffected.
Make every new ship an 'eco' ship, says financier Building to the most efficient design is best way to guard asset's value over long term.
US shale gas production will boost LNG bunker prospects Although 'chicken and egg' scenario persists with LNG bunkering stations, says ABS.
Asia bunker prices soften Supplies in Singapore and Tokyo Bay still tight for some.
New membrane for LNG containment The system has received design approval from ABS and DNV.
Singapore sees month-on-month rise in bunker sales But volumes still down year-on-year.
Ferry bunker station starting service in Netherlands Station is located at a former mooring pontoon at Buiten de Waterpoort in Gorinchem, western Netherlands.
APL vessel receives Green Ship of the Year award APL Yangshan presented with award at Singapore International Maritime Awards ceremony.
More consolidations expected in Chinese yards 'Eco' ship factor favours more sophisticated yards.
Torm to delist from Nasdaq Declares net loss of $481 million for 2012.
Titan to get more funds Two firms will invest approximately HK$130 million.
Florida fishing fleet could see lower fuel costs Florida's commercial fishing fleet to be exempt from sales tax.
Methanol could gain popularity as bunker fuel Pros and cons of using the material to fuel ships highlighted by FOBAS Manager.
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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