Beijing takes cross-strait steps on trade BEIJING has introduced 31 preferential policies to boost cross-strait exchanges at the fifth Strait Forum in Xiamen
COSCO units shuffled COSCO International Trading said its subsidiary Yuantong Maritime Service has acquired the COSCO Europe unit Hanyuan Technical Service Centre
Oz carbon report assailed A REPORT from Australia's Climate Commission was today labelled extremist and radical by the Australian Minerals Council lobbying group
S American oil groups snap up tankers SOUTH American oil companies PDVSA and Sonap took several Suezmaxes and Aframaxes on period charters last week
Jaya shares keep 'sell' signal DMG & PARTNERS has kept its 'sell' rating for Singapore's Jaya Holdings, despite predicting losses from the yard's recently sold AHTS
Older bulkers dominate S&P BULKERS aged 10 years and beyond dominated the S&P market last week
Brightoil to build oil storage in East China HONG KONG-listed Brightoil will build oil storage facilities with storage capacity of 1.94M m³ in Zhoushan for 1.32Bn yuan ($214M)
STX Pan Ocean cleared for restructuring STX PAN Ocean said today it will proceed with restructuring, after a court approved receivership for the drybulk carrier operator
Angola LNG ships first cargo ANGOLA LNG has shipped its first cargo to Brazil, IHS World Markets Energy reported today
MPM sets up S$300M note programme MARCO Polo Marine of Singapore said today it has set up a S$300M ($239M) multi-currency medium-term note programme to pay off loans and finance investments
Indian Railways' Revenue Rises Nearly 13 Percent Indian Railways reported its revenue from April 1 to May 31, 2013, was Rs. 22,439.30 crore (about US$3.9 billion), increasing 12.7 percent from $3.4 billion during the corresponding period last year. Total goods earnings rose 10.5 percent year-over-year to $2.7 billion for April to May 2013, from $2.4 billion for April...
Fifth Ship Diverted From Maher Terminals Maher Terminals said a fifth ship has been diverted to a nearby terminal as the Port of New York and New Jersey's largest container facility struggles with congestion and delays for a second week. Maher said the Zim Rio Grande would be discharged and loaded starting Monday afternoon at APM Terminals,...
Long Beach TEU Volume Rises More Than 17 Percent The Port of Long Beach reported May container volume totaling 583,588 20-foot-equivalent units, up 17.2 percent compared to the same month last year and the highest monthly container volume since October 2010. Monthly exports, which increased 13.9 percent year-over-year to 147,073 TEUs, were also at the highest level since October 2010. Furthermore,...
US Industrial Production Index Flat in May U.S. Industrial Production Index Full-size image The U.S. Industrial Production Index remained mostly unchanged in May 2013, edging up only 0.04 percent, according to the latest retail report from the Board of Governors of the Federal Reserve System. This was a minimal rebound from April's 0.4 percent drop, which had been the...
CMA CGM to Raise India-North Europe Rates French carrier CMA CGM will increase rates on westbound cargo moving on its Epic service from India to North Europe and the Mediterranean, starting July 1. The planned increase on dry shipments will be $300 per 20-foot container and $600 per 40-foot/high cube container. "In a continued effort to provide reliable and efficient...
Cathay Pacific's Cargo Volume Dropped in May Cathay Pacific Airways reported that Cathay Pacific and Dragonair combined carried 121,529 metric tons of cargo and mail in May, down 1.5 percent year-over-year. The monthly cargo and mail load factor dropped by 1.2 percentage points to 61.1 percent. Capacity, measured in available cargo and mail metric ton kilometers, slid 0.1...
AECOM Technology Wins $148 Million Qatar Contract AECOM Technology Corp. has won a $148 million, three-year contract to provide construction supervision and design review services for the portion of the Doha Expressway program in Qatar known as Group 7. The new dual highway will link the cities of Al Khor and Mesaieed. The program covers the creation of...
Port Freeport Names Hoss as Chairman John Hoss, Port Freeport's new chairmanPort Freeport's commission has unanimously elected John Hoss as chairman of the Texas port. As chairman, Hoss will serve as the leader of the Brazos Harbor Industrial Development Corp. and the Pilot Board. Since 1997, Hoss has been a principle in Freeport Launch, delivering supplies to ships...
Jaxport Picks Former Horizon Lines Executive for CEO Brian W. Taylor, Jaxport's new choice for CEOThe Jacksonville Port Authority's board of directors today unanimously voted to offer the position of Jaxport CEO to Brian W. Taylor. The board directed that contract negotiations open with Taylor immediately. Taylor, a long-time Horizon Lines executive, has experience in sales and operations management. Most...
Con-way Freight Receives Department of Defense Award ANN ARBOR, Mich., and MANCHESTER, N.H. - June 17, 2013 - Con-way Freight, a less-than-truckload (LTL) carrier and subsidiary of Con-way Inc. (NYSE: CNW), has been honored with the prestigious Pro Patria Award, presented to its service center in Manchester, N.H., by the New Hampshire Committee for Employer Support of...
Northrop Grumman to Upgrade Container Vessel Navigation Systems with VisionMaster FT ECDIS NEW MALDEN, England, June 17, 2013 /PRNewswire/ -- Northrop Grumman Corporation (NYSE: NOC) has been selected by Arklow Shipping to upgrade 12 container vessels with VisionMaster FT Electronic Chart Display and Information Systems (ECDIS) to enable paperless navigation. Northrop Grumman's Sperry Marine business unit will install all of the systems by the end of 2014. The...
MAPI Report: Manufacturing Production on the Rise Inflation-adjusted gross domestic product increased at a 2.4 percent annual rate in the first quarter of 2013, while manufacturing output rose at a "much faster" 5.0 percent annual rate, according to the quarterly Manufacturers Alliance for Productivity and Innovation U.S. Industrial Outlook. The report estimated that industrial production will improve 3.1...
Seattle Selects Developer for Industrial Business Park The Port of Seattle has selected Panattoni Development Co. to develop the Des Moines Creek Business Park. The real estate firm, headquartered in Newport Beach, Calif., was chosen from a field of four submitting bids to develop 87 acres of property south of Seattle-Tacoma International Airport with a combination of airport-related...
Crowley Maritime Offers LCL Service From Chicago Crowley Maritime's logistics group has launched a new, weekly less-than-containerload service from Chicago to Puerto Rico, the Caribbean and Central America. Puerto Rico LCL cargo cutoff in Chicago is every Thursday at noon for arrival in San Juan, Puerto Rico, 13 days later. Furthermore, a second sailing from Jacksonville, Fla., to...
Search Firm Boyden Tasked With Finding New VPA CEO The Virginia Port Authority has chosen Boyden to help find its new CEO. Rodney W. Oliver has been serving as VPA's interim executive director following the resignation of Jerry A. Bridges in October 2012. Tim McNamara, managing director of Boyden, an executive search firm, and global head of Boyden's transportation and infrastructure...
EU, US Launch Free Trade Talks The European Union and the U.S officially launched far-reaching negotiations on a trans-Atlantic free trade and investment agreement today that could boost their combined economies by as much as $280 billion a year. The announcement was made at a G-8 summit in Enniskillen, Northern Ireland, which is being attended by President...
Carrier Discipline Triggers Surge in Far East-Mediterranean Spot Rates An outbreak of discipline among ocean carriers was the trigger for a 61 percent surge in spot freight rates on the Far East-Mediterranean route, according to industry consultant Drewry. The jump in the average spot rate to ship a 40-foot container from Shanghai to Genoa, Italy, to over $2,200 in the...
Bunker Fuel Prices Rise Bunker fuel prices - Rotterdam Full-size image Spot prices for high and low sulfur bunker fuel increased in the week ending June 14, according to daily Bunkervision price data via international marine fuel oil broker LQM Petroleum Services. High sulfur bunker rates rose 1.1 percent after four consecutive weeks of declines. The average price...
MOL Comfort Sinks After Hull Snapped in Half The MOL Comfort, a 7,041 20-foot-equivalent unit container ship operated by Mitsui O.S.K. Lines, sank today about 200 nautical miles from Yemen after its hull was cracked in two during inclement weather, Business Standard reports. The Bahamas-flag vessel was in the Indian Ocean en route from Singapore to Jeddah, Saudi Arabia. The...
Bunkers spill threat An apparent bunkers spill was sighted at the scene of a stricken Mitsui OSK Lines (MOL) boxship as the vessel sank in flames in waters off the border between Yemen and Oman.
Costa president departs Costa Crociere's president has stepped down in the third Carnival Corp management change in recent weeks.
MOL boxship sinks An MOL boxship has reportedly sunk after suffering a hull crack and taking on water into the hold in the Indian Ocean on Monday.
ORIG nets drillship deal George Economou's Ocean Rig has bagged a charter contract for one of its new ultra deepwater drillships.
Crewman poisoned A seafarer has died from poisoning on a Russian tanker in the Baltic.
FSRU tow heads for Suez An unusual towage job of a floating storage and regasification unit (FSRU) is en route to the Suez Canal after passing through the high-risk piracy area off the east African coast.
Andriaki scraps oldie Andriaki Shipping of Greece is said to have netted a firm rate for scrapping its oldest tanker.
Keppel edges up holding Singapore shipbuilding group Keppel Corporation (KCL) has lifted its stake in Floatel International to nearly 50%.
Demolition doldrums Tanker demolition rates have fallen to levels not seen in four years, according to a leading shipbroker.
Grounding probe starts An investigation has begun into how a Norwegian cargoship ran aground on rocks off Scotland last week.
Reach reaches further Norway's Reach Subsea has boosted its offshore presence with the charter of a Bourbon support ship.
Offshore ship sinks An offshore supply vessel sank after hitting an oil platform in the Gulf of Mexico on Friday.
Seaview moves in Shipbroker Seaview Shipping and Trading is teaming up with Galbraith's to target expansion in the South American tanker market.
Yinson fixes FOP finance Malaysia's Yinson Holdings has lined up loans of MYR 400m ($127.7m) to take over Fred Olsen Production (FOP).
RABT swoops for cash Rederi AB TransAtlantic (RABT) plans to tap the short term debt markets as part of its efforts to boost liquidity.
STX PO filing cleared Struggling bulker owner STX Pan Ocean has had its rehabilitation application accepted by Seoul's central district court.
Greek ro-ro hit by fire Five people have been evacuated from a Greek ferry following a fire.
Marco Polo eyes funds Marco Polo Marine is looking to raise fresh capital to fund the next stage of its expansion.
Kexim's cash boost Export-Import Bank of Korea (Kexim) is offering another KRW 500bn ($443.65m) of finance to domestic shipyards.
Vitesse officers charged The captain and first officer of the Condor Vitesse ferry have been charged with manslaughter.
Four taken off Nigeria Four seafarers have reportedly been kidnapped off an offshore support vessel in the Gulf of Guinea, off Nigeria.
Asian Express sinks An elderly general cargoship has sunk off the southwest coast of India following an engine breakdown.
Haze hits Singapore Haze has returned to waters surrounding Singapore and the Malacca Straits significantly reducing visibility for shipping.
STX boxship arrested STX Pan Ocean, the embattled South Korean shipowner, had a containership arrested in Singapore on Friday.
Jaxport names Taylor CEO Brian Taylor has worked both in the public and private sector. He was COO of domestic ocean carrier Horizon Lines until November 2012 and was most recently senior vice president at New Breed Logistics in High Point, N.C.
Drewry Air Freight Index - April gains erased in May
Ag fee 'galling' to Canadian truckers Truckers pay a fee of $5.25 to APHIS every time they cross the border, according to the Canadian Trucking Alliance, and a recent study that shows the fees aren't generating enough revenue could lead to a larger fee.
EU gives green light to U.S. trade discussions
USDA takes steps to further balance sugar surplus
MOL crew safe after containership cracks The Japanese carrier said the 7,041-TEU MOL Comfort sustained the crack in the Arabian Sea at around 7 a.m. local time on Monday morning while in transit from Singapore to Jeddah. India's Coast Guard helped with the rescue.
Nicaragua canal targets big ships Developers proposing to build a new canal across the Central American country are targeting operators of large ships that will not pass even through the new set of locks being build at the Panama Canal.
Menzies workers vote to strike
LA box volumes continue slide in May
Asia/Middle East driving global contract logistics growth
Bunkering Iranian vessels 'could break US sanctions' New, tougher US sanctions to come into effect on July 1.
Little movement in Fujairah's prices Cape Town prices remained flat on Monday.
Prices across Europe start week firm But prices lacked direction in Hamburg.
Oil spilt in MOL sinking MOL box ship breaks in two but crew rescued.
Industry could lobby to change IMO sulphur verification Change in EU Sulphur Directive to align with IMO procedure brings consistency, former IBIA head tells bunker conference.
Study: Bigger bunkering role for India possible With rising cargo volumes in ports, bunker sales are slowly growing in India.
Name change for Integra Fuels Integra Fuels to be known as Integr8 Fuels as part of re-branding exercise.
Another STX Pan Ocean ship arrested But trade in company's shares to resume after court accepts rehabilitation application.
Asian bunker prices stay firm Strong demand seen in Hong Kong.
Hybrid systems can have short 'payback' period DNV specialist says costs of installing hybrid technology make sense for some types of ships.
US EPA introduces tighter rules for vessel general permit To include training of personnel for the prevention and handling of fuel spills.
New Bunker Trader at Middelfart office of Dan-Bunkering Kasper Rosenberg joined company at the start of May.
Scandinavian Bunkering appoints new MD for Singapore branch Ho Ting Teck has been in the bunkering industry for over 20 years, says firm.
Brightoil signs agreement for Zhoushan oil storage facility Project enters first phase of construction, starting commercial operations by second half of 2014.
Russian shipyard launches 'multifunction' bunker tanker Tanker designed for bunkering, oil spill removal, and cargo transportation, among other duties.
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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