NYK plays for time on ultra-large tonnage Kudo seeks to balance G6 partners' service needs against looming overcapacity
DSME reports hike in net profits South Korean shipbuilder has booked 91% of its full-year order target
Global Ship Lease weighs up dividends versus acquisitions Boxship owner says top priority is financial flexibility
Box lines set sights on new Asia-Europe rate hike Carriers aim for mid-December increase after November rises erode
Greeks surrender to private equity's siren song It may be a Faustian pact, but owners are talking to asset management firms
Sanko capesize seized in Hong Kong Vessel faces judicial sale as Japanese owner continues to restructure
No paper tiger The Joint Hull Committee's cat fine guidance has teeth
Russia and Vietnam co-operate to promote gas as public transport fuel LNG carriers will ship cargoes across the South China Sea
Taiwan bulk players post weaker nine-month earnings U-Ming, Sincere Navigation and Shih Wei are stuck in a down cycle
No more easy money for shipping But industry consensus suggests a brightening outlook from 2014
Joint Hull Committee to research risks of LNG as fuel Insurers push cat fine guidance and say owners must tackle the problem to avoid an increase in premiums
Bourbon pockets $63m from selling two vessels Leading offshore vessel owner renews its supply fleet
Data Hub: Load Factors - key Asia routes West Africa the star for shipping lines
Defaults push FSL Trust deep into the red Singapore-listed trust records $4.8m losses due to defaults of Geden and Omni
Hedge funds wait to seize the moment Marine Money opens with a tongue-in-cheek warning to investors from Scorpio's Bugbee
US-Europe diesel trade saves product tankers Backhaul route earnings outperform those of fronthaul voyages
More shipowners will move into offshore Diversifying into energy is going to be a natural trend, says Norton Rose
Nam Cheong profits climb 86% ANALYSTS UOB Kay Hian, DMG & Partners and CIMB have maintained strong ratings for Malaysian OSV builder Nam Cheong after it posted an 86% y/y increase in 3Q13 net profits, to 59M ringgit ($18M)
DSME's 3Q profits rocket 62% DAEWOO Shipbuilding & Marine Engineering said today its 3Q13 profits rose 62.4% year on year to 92Bn won ($86M)
Boskalis raises its forecast for 2013 profits DUTCH dredging and maritime services group Boskalis raised its 2013 profits forecast to "at least €360M [$484.6M]" after what it called an exceptionally good 3Q
Viking Line posts strong 3Q results FINNISH ferry operator Viking Line reported strong 3Q figures today despite tough competition and low market growth on its routes between Finland, Sweden and Estonia
Wisdom lists in London TAIWAN'S largest bulker operator, Wisdom Marine, has become the first Greater China company to list in London
Taiwan liners profit TAIWAN'S Big Three liners Evergreen, Yang Ming and Wanhai said in fiscal reports they all profited in 3Q13
Hopeful Lauritzen cuts losses DENMARK'S J Lauritzen said today it reduced losses in 3Q13, which puts it on track to secure its future
FSL Trust's losses widen to $8.9M FIRST Ship Lease Trust said its 3Q13 losses worsened to $8.9M, from $186,000 lost year on year
Seadrill buys jack-up owner SEADRILL said today it has acquired the owner of the construction contract for the newbuilding a high-specification jack-up rig
Final End to Li Kelin's Comeback Attempt The bankruptcy of Hainan Pan Ocean Shipping at the end of October brings to an end Capt. Li Kelin's attempt to repeat his earlier successes in building a shipping business. Hainan PO Shipping, which Li hoped to build into another major international Chinese container line like China Shipping, which he headed...
Inside the Box Terminal, Part II See how an 80-by-150-foot crane is moved from Finland to a container terminal in the Port of New York and New Jersey. Second in a series of Journal of Commerce video reports on Global Terminal's expansion. Be sure to bookmark Global's Amazing Race for JOC's continuing coverage of the expansion project,...
Container Traffic Dips at Indian Ports The volume of containers handled by major state-owned ports in India declined 4.56 percent year-over-year from April through October, but total cargo tonnage was up 1.68 percent, according to the latest provisional traffic data released by the Indian Ports Association. Consolidated container throughput in the first seven months of fiscal year...
U.S. Agriculture Exports: Opportunities and Challenges for Containerized Shippers While this year's corn and wheat harvest are expected to reach record levels, a small but growing number of agriculture producers looking to take advantage of containerized exports face the perennial problem of equipment shortages because their crops are grown in rural areas that aren't major destinations for import containers...
Shipping Corp. of India Reports Second Quarter Loss hipping Corporation of India swung to a $19.52 million loss in its second fiscal quarter of 2013-14 from a $47 million profit in the same period a year ago. Total revenue from July to September plunged 11.5 percent year-over-year to $167 miillion, but net sales inched up 1 percent from a...
Congestion Closes Export Gates at Nhava Sheva's Gateway Terminals Slowdowns by container truck drivers at the Gateway Terminals operated by APM Terminals threaten to worsen congestion in Nhava Sheva Port (Jawaharlal Nehru), India's largest container gateway. "The private terminal has been facing serious productivity and congestion issues over the past 20-25 days following the go-slow action by truckers," a shipping...
Ocean Carrier Rate Revision Roundup for Nov. 15 Major container lines have announced planned rate increases for a variety of trades, as detailed below, slated to take effect in November, December and January. Asia-Europe Three container lines hope to implement rate increases on Dec. 15: CMA CGM plans to increase rates on its trade from Asia to Europe by $750 per...
SCFI: Asia-to-Europe Rates Slip Further Shanghai Containerized Freight Index, Mediterranean, week ending Nov. 15, 2013 Full-size image Spot container rates from Asia to European ports measured by the Shanghai Containerized Freight Index gave up more of the gains achieved around the Nov. 1 general rate increase in the week ending Nov. 15. Both Mediterranean and northern European lanes...
SCFI: Shanghai-to-US Spot Container Rates Rise in Week of GRI Shanghai Containerized Freight Index, U.S. West Coast, week ending Nov. 15, 2013 Full-size image Spot container rates from Asia to the U.S. East and West coasts measured by the Shanghai Containerized Freight Index increased more than $100 per 40-foot container in the week of Nov. 15. This was the first increase in...
World's Largest Logistics Companies Grow, But More Slowly Germany's DHL is the world's largest transportation and logistics provider.The 50 largest transportation and logistics companies worldwide grew more slowly in 2012 as the global economy sputtered, increasing revenue only 2.6 percent compared with a more robust 8.4 percent combined growth rate in 2011. That slowdown reflected disappointing trends in international...
Deutsche Post CEO Appel Discusses DHL's Asian Flight Path Deutsche Post DHL CEO Frank AppelFrank Appel has seen his share of turmoil and volatility. As the CEO of Deutsche Post DHL, Appel has navigated his company through a global recession that saw its DHL express unit pull out of the U.S. market, and more recently has wrestled with uncertainty...
Norfolk Southern named to Top 100 Military Friendly Employers list by G.I. Jobs magazine NORFOLK, VA. - Norfolk Southern has been named one of the nation's Top 100 Military Friendly Employers® by G.I. Jobsmagazine in its 11th annual list recognizing companies with the best military recruiting and hiring practices. Making its seventh appearance on the list, Norfolk Southern ranked 75th. The list of 100 companies represents the top...
'Progress' in NY-NJ Port Hiring Talks The Port Authority of New York and New Jersey reported "continued progress" in its efforts to broker an agreement to settle a dispute over hiring of longshoremen in the port. The Waterfront Commission of New York Harbor postponed a scheduled Nov. 18 hearing on port hiring practices until another previously scheduled...
WRRDA Moves Forward with House Conferee Appointments Washington - Today, Transportation and Infrastructure Committee Chairman Bill Shuster (R-PA) and Ranking Member Nick J. Rahall, II (D-WV) issued the following statements after House Speaker John Boehner (R-OH) and Minority Leader Nancy Pelosi (D-CA) named the members selected to serve on the House-Senate conference committee tasked with resolving the differences...
JAXPORT names Schiappacasse Director, Latin America Sales JAXPORT today announced veteran maritime professional Rick Schiappacasse has been named Director, Latin America Sales. In his new role at JAXPORT, he will be responsible for strengthening relationships and attracting new cargo business between North Florida and Latin America.Schiappacasse has more than 35 years of industry experience, including 22 years...
"K" Line to Support Transportation of Emergency Relief Supplies to Typhoon-hard-hit Area in the Philippines by its Containerships. Kawasaki Kisen Kaisha, Ltd. ("K" Line) would hereby announce that, in order to support disaster recovery efforts in the Philippines, where the damage from Typhoon Haiyan is especially severe, it has decided to provide transportation of emergency relief supplies to the country free of charge by its containerships. For details of...
NFI Recognized as a Top 50 Green Fleet by Heavy Duty Trucking Magazine Cherry Hill, N.J. (PRWEB) November 14, 2013 - NFI, a leading supply chain company headquartered in Cherry Hill, New Jersey, is pleased to be recognized as a Top 50 Green Fleet by Heavy Duty Trucking (HDT) magazine. HDT considers NFI ahead of the curve in sustainability efforts and awarded the supply chain provider...
XPO Logistics Acquires Optima Service Solutions XPO Logistics has acquired Optima Service Solutions for $26.6 million. The cash purchase price for Optima, a non-asset provider of last-mile logistics services for U.S. retailers and manufacturers, excluded working capital adjustments and there was no assumption of debt. The acquisition of the Atlanta-based company is expected to be immediately accretive...
CEVA Logistics Names Urbain CEO Marvin O. Schlanger, CEVA Logistics' CEO, will retire on Jan. 2, 2014.CEVA Logistics today announced that Marvin O. Schlanger will retire as CEO on Jan. 2, 2014, and will be succeeded by Xavier Urbain. Urbain also has been elected as a member of CEVA's board of directors, effective Jan. 2, and...
Maersk Revises ME3 Service Relief sculpture of Mustafa Kemal Atatürk at IzmirMaersk Line is reorganizing the eastbound port rotation of its Europe-Middle East 3 (ME3) Service connecting India, the Middle East and Europe, effective this month. The changes include a new port call at Izmir, Turkey, and suspension of an existing call at Port Said,...
The Iranian go-slow The tanker sector should not expect a rush of Iranian crude - or of the country's idled VLCC fleet - into the market if sanctions are lifted, US broker Poten explains.
Sonatide resurrected Tidewater has emerged victorious in a high-stakes standoff with Angolan energy giant Sonangol.
LA lags in October The port of Los Angeles suffered a drop in container volumes in October even as the national figures for inbound boxes rose.
Soros dips toes in dry George Soros' investment fund has waded into the dry-bulk space, unveiling small holdings in six New York-listed bulker owners.
Fesco profit falls Russia's Far Eastern Shipping Company (Fesco) has posted a 200% drop in earnings in the first nine months.
MMA fires warning Mermaid Marine Australia (MMA) has lowered its first half profit guidance after several projects were hit by delays.
ABG strife goes on India's ABG shipyard continues to find the going tough during the downturn.
Diana in fresh cape deal Diana Shipping has confirmed a new contract for a capesize bulker it picked up with a charter attached.
Neste seeks manager Finland's Neste Shipping is starting the search for a ship manager to take on its tanker crews as it sells its fleet.
Splosna wields axe Slovenian bulker owner Splosna Plovba is cutting costs by chopping workers not ships.
GasLog gunning for more GasLog trumpeted its ambitions to be a consolidator of the LNG shipping market after a stronger than expected third quarter.
ASL on the front foot ASL Marine has launched a build-to-stock programme in a bid to hold its own in the increasingly competitive Asian offshore support vessel (OSV) building market.
Viking stronger so far Finland's Viking Line has posted a bigger profit for the first nine months as revenue grew.
Fjord falls to red Norway's Fjord Lines has been hit by the costs of phasing in new ferries as its nine-month result turned negative.
Winter warming for VLs VLCC rates have pushed through $50,000 daily to reach the highest point seen in almost three years.
JES slumps in Q3 Chinese shipbuilder JES International slumped to a third quarter loss as orders and vessel values nosedived.
Wan Hai weaker Taiwan's Wan Hai Lines has been hit by falling revenue as its nine-month earnings declined.
TEN wins Statoil spoils TradeWinds digests the digits making the headlines this week.
Dof hits a high Dof racked up new contracts approaching $1bn on the same day that the company announced record operating profit.
GSL still ahead New York-listed Global Ship Lease (GSL) has strengthened further in the first nine months while reducing debt.
Tallink held back The weak Baltic region economy has curtailed earnings at ro-pax group Tallink in the third quarter.
A crushing retreat We take a look at what was said in the market over the past week.
Bourbon sells AHTS duo Bourbon has offloaded a pair of ten-year-old anchor handlers as part of a plan to modernise and standardize its fleet.
Baltic proves popular Baltic Trading shares are proving popular after underwriters for its recent share sale opted to exercise their overallotment option.
Courage crashes in Q3 Courage Marine has seen its financial situation deteriorate after posting a loss for the third quarter of 2013.
Allure drydock bound A Royal Caribbean cruise ship is set to be drydocked for unscheduled repairs due to what was described as 'mechanical issues'.
Svitzer fined over sinking Svitzer has been fined £1.7m ($2.55m) for its part in the sinking of a tug in Scotland that claimed the lives of three crew.
Disposals aid Yang Ming Asset sales have helped Yang Ming Marine keep its head above water in the third quarter it emerged last night.
PE backs Energy Drilling HitecVision, the Norwegian private equity group, has taken a majority stake in Singapore-based rig owner Energy Drilling.
FSL sounds alarm First Ship Lease (FSL) has assembled a team of lawyers to lead an investigation that stems from concerns about the terms of temporary loan covenant relaxations.
Russell Bruner named Maersk CEO He will succeed John Reinhart, who will step down on Jan. 31, 2014, to become the CEO and executive director of the Port of Virginia. Bruner joined Maersk in 1989 and has been the president and chief executive officer of Maersk since 2004.
CEVA CEO to retire in January
Talks continue on adding NY/NJ longshoremen Representatives from the New York Shipping Association, Waterfront Commission of New York Harbor, and the Port Authority of New York and New Jersey issued a terse statement that said "there was continued progress on port-hiring issues."
NEI, data sharing top Pritzker agenda
House names negotiators for final WRDA bill The Senate and House WRDA bills authorize about $8.2 billion in port and waterway projects each, but differ in areas such as how to fund ongoing construction of the Olmstead Dam mega-project.
Customs brokers seek exemption from new truck rules Under the MAP-21 surface transportation legislation enacted last year, cargo brokers as of Oct. 1 must take out a $75,000 surety bond to ensure customers of their financial security. The bond amount previously was $10,000.
XPO Logistics buys last-mile provider for $26.6 million
Evergreen/Hanjin start new intraAsia service
Daseke and Boyd Bros. merge
ITC investigates AGOA's impact
IKEA buys Canadian wind farm
American, US Airways apply for joint stock listing
Ex-Im Bank backs nitrogen pump exports to Singapore
Weekly global market report A weekly price round up from bunkering hubs around the world.
Fuel prices end week on firm note in the Americas Demand and avails were said to be good in Houston on Friday.
Baltic port says LNG demand has yet to materialise Port of Tallinn to delay development of LNG bunkering terminal.
Prices firm in Fujairah Bunker prices stayed flat in Suez.
Prices close week on firm note Market was 'pretty busy' with good demand.
Courage falls to third quarter loss Maintains cautious view of the market in the months ahead.
'Environmental regulations' drove Hess acquisition 'The going forward drivers that appear exciting to us are driven largely by regulation', says Aegean president
Renewed call for better bunkering deal Indian shipowners' leader says government should address longstanding grievances.
New player entering Jamaican market this month 'We are excited to be a fully owned Jamaican company pioneering the expansion of the bunker market.'
New Exxon product can help beat cold corrosion Marine formulation gives strong 'acid neutralisation performance', says company.
Asian prices end week on firm footing Prices rose across all fuel grades.
Profit falls for Chinese fishing giant Fleet expansion means more spending on fuel.
Chinese supplier sees losses narrow On higher bunker demand in Q3.
Bunker spill reported in the Philippines Spill said to be 'uncontainable'.
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