Diana Containerships unloads first elderly panamax Maersk Madrid was projected to lose money after initial two-year charter
Offshore windfarms open opportunities for owners Companies that do their homework can cash in on renewable energy projects
Qatar eyes North American gas Emirate seeks new partners to boost position
Critics slam Costa Concordia 'blame games' Cruise firm's plea bargain undermines ISM code, says Skaggerak Foundation
How has the casualty changed the cruise industry? Ten voluntary policies adopted after Costa Concordia operational safety review
Angola fights back Foreign investment lifts crude exports from a nation recovering from a long civil war
Skou warns of all-out Asia-Europe price war risk Another downwards spiral imminent unless carriers come to their senses fast
Skou calls for consolidation Building new companies achieves economies of scale, says Maersk boss
Déjà vu The Asia-Europe trades appear on the brink of another price war
Seanergy sells another handysize as restructuring talks continue Restis-backed firm slashes debt but lands in the red
Hong Kong shippers work around the strike Industry groups say delays are shorter and more predictable
Pacific Basin ships outdo spot market rates Hong Kong-listed company continues its search for new tonnage
Ship finance exodus is a short-term problem Nordea's Kjelsrud predicts return of capital
Bilinder Marine to ship gasoil from world's biggest refinery Product trade booms out of Jamnagar
Freight forwarders welcome carrier moves to improve service levels K+N chief sees reforms as strengthening forwarders' value proposition to customers
Keep calm and carry on LNG spot rates have fallen to under $100,000 per day, but shipowners should remain confident
KG house MPC sells stake in rival Move leaves Döhle as largest shareholder in HCI
European Parliament rejects ship recycling fund Proposals for tighter EU demolition rules to be passed to Council
Smaller owners may struggle to secure ship mortgages Return on capital a challenge for container industry, says HSBC's Long
Sliding yen Devaluation is helping shipowners, but the easing cannot last forever
LNG sails into uncharted waters Industry questions whether six-figure earnings will become a thing of the past
Most container contracts to be index-linked by 2020 Shippers' demand will continue to grow, Global Liner Conference Workshop is told
Wärtsilä sees signs of shipping recovery Enginemaker cancels temporary layoffs as ship-power orders rise 60%
Feeder operators struggle as deepsea rivals steal a march on their trades As players fight for share, Unifeeder owner eyes new acquisitions
Major shakeout on the cards for ship finance 'Five or six' specialist players will survive changes to global banking, say observers
Many an obstacle can mar a box-line merger The proposed tie-up between Hapag-Lloyd and Hamburg Süd may seem perfect on paper but talks to formalise the union have broken down again
Tanker sector remains fragmented A predicted surge in consolidation has failed to bear fruit
Vale Malaysia said to have avoided China ban by revising capacity Owner thought to have reported ship as 299,000 dwt upon entering Lianyungang
Wärtsilä Ship Power fires on all cylinders ORDER intake at Wärtsilä's Ship Power business rose 60% in this year's first quarter, the Finnish power system and marine technology group said today
Keppel's profits slip 56% KEPPEL said today profits dropped 56% to S$331M ($268M) during 1Q13, mainly because of the absence of "one-time gains" from its property segment
From mining boom to 'dining boom' AUSTRALIA is poised to ride a food boom, with Asia projected to consume 71% of future growth in demand, a food forum in Melbourne heard today
Essar Ports turns losses into profits of $17M ESSAR Ports said today it turned losses into profits in 1Q13
Yard's profits plummet CHINESE private shipbuilder New Century Shipbuilding said today its profits tumbled 71% year on year to 1.1Bn yuan in 2012
HHI diversifies further HYUNDAI HI told Fairplay today it will start to supply compaction equipment through its partnership with Germany's Atlas Weyhausen
Frontline to adjust shares FRONTLINE, the VLCC and Suezmax operator in John Fredriksen's business empire, has called an emergency general meeting for 8 May to adjust the company's shares
Bestway profits fall 81% OFFSHORE and ship designer Shanghai Bestway Marine Engineering Design today reported net profits of 3.02M yuan ($488,100) in 1Q13
LNG spot rates drift SPOT RATES for LNG carriers have drifted below $100,000 per day on low volumes, but even at such a level owners can expect decent payback on investments, a shipping analyst said
LNG ro-pax debut put off FJORD Line of Norway said today the first voyage of one of the two LNG-powered ro-paxes it is having build has been postponed by three weeks
Yard's loans guaranteed TAIZHOU CATIC Shipbuilding HI of Jiangsu has secured guarantees for 120M yuan in bank loans with a term of one year
Nickel ore bulker grounded INVESTIGATORS are today looking at why a new bulker loaded with nickel ore grounded in Indonesia
Valemax finally docks in China THE FIRST Valemax to dock in China since its government barred VLOCs has arrived in Lianyungang, AISLive data has indicated
Hub Group Reports Record First Quarter Income Hub Group today reported a record income of $15.4 million for first quarter 2013, an increase of 12 percent compared with $13.7 million for first quarter 2012. Quarterly revenue rose 4 percent from $739.9 million in 2012 to $769 million in 2013. The Hub segment's first quarter revenue was $592.7 million, rising...
Truck Capacity Squeezed at Mexican Border More than 5 million commercial trucks crossed the U.S.-Mexican border in 2012, a 4.8 percent increase from 2011 that set a new record. Unfortunately, Troy Ryley says, too many tractor-trailers were headed in one direction - north. The imbalance in north-south truck traffic threatens to create a severe capacity shortage in...
Werner Enterprises's First Quarter Profit Shrinks Werner Enterprises reported a net income of $17.5 million for the first quarter of 2013, a decline of 18 percent from $21.2 million for first quarter 2012. Quarterly revenue fell 1 percent from $498.4 million in 2012 to $492.9 million in 2013. Trucking revenue, net of fuel surcharge, decreased 2 percent year-over-year...
India's Exports Up, Imports Down in March India's trade deficit from April 2012 to March 2013 was $190.9 billion, widening from $183.4 billion during the same period in the previous year. India's exports in March were valued at $30.8 billion, increasing 7 percent from $28.8 billion in March 2012. From April 2012 to March 2013, exports fell 1.8...
Brisbane to Raise Port Fees in July The Port of Brisbane will increase trade charges, on average, by 2.5 percent, starting July 1. Trade charges include harbor dues, wharfage fees, security charges and port access charges, the Australian port said....
UASC Names Two to Executive Management Team United Arab Shipping Company has appointed Lars Christiansen chief trade officer and Uffe Østergaard chief commercial officer, as part of its new transformation and investment program. The new executives will join the existing executive management team of Waleed Al Dawood, chief operating officer; Basil Al-Zaid, CFO; and Jorn Hinge, president and...
US Ports See Little Impact From HIT Strike in Hong Kong A strike by dockworkers at Hongkong International Terminals is entering its third week, but, despite the size and importance of Hong Kong as a gateway to China, the job action so far has had minimal impact on imports and exports at U.S. ports. Shipping lines that would normally call at facilities...
Portland, Ore.'s March TEU Volume Up 12 Percent Oregon's Port of Portland reported container traffic totaled 16,917 20-foot-equivalent units in March, an increase of 12 percent from March 2012 and 2 percent from February. Of the total container traffic in March, export containers totaled 10,471 TEUs, up from 8,911 TEUs in March 2012, while import containers accounted for 6,446...
Report: Global Beef Exports to Drop in 2013 The U.S. Department of Agriculture's Foreign Agricultural Service has predicted global beef production in 2013 will reach 57.5 million tons, "virtually unchanged" from its October 2012 estimate, despite a sharp downward revision for India, which was offset by increases for a number of other countries. Although still forecast to be a record,...
Canadian Carload Volume Hits 28-Week High Canadian rail volumes through April 13, 2013 Full-size image Canadian carload volume rose 1.2 percent year-over-year to 82,077 carloads, according to the Association of American Railroads. This is the highest volume since September 2012. In the week ending April 13, combined North American carload volume, including all three North American Free Trade Agreement partners, inched...
Antwerp's EuroFruitPorts Terminal Opens Cold Storage Warehouse EuroFruitPort's new cold store warehouse.EuroFruitPorts, the refrigerated fruit terminal that recently opened in Belgium's Port of Antwerp, has opened its cold storage facilities. The 38,700 square meter (about 416,563 square foot) terminal now has a cold storage warehouse of approximately 146,389 square feet. Construction of the site began in September 2012,...
Cooney Joins UTi Worldwide as Asia-Pacific Sales, Marketing VP Pat Cooney, UTi Worldwide's new vice president of sales and marketing for the Asia-Pacific region.UTi Worldwide has hired Pat Cooney as regional vice president for sales and marketing in the Asia-Pacific region. Prior to joining the supply chain management company, Cooney was vice president of sales and marketing for Paccess, a...
Infrastructure Financing for Cities Task Force Kicks Off The Clinton Global Initiative and the U.S. Conference of Mayors have launched the Infrastructure Financing for Cities Task Force, which is intended to support mayors in attracting investment into public infrastructure projects. Former president Bill Clinton will help lead the effort, and Chicago Mayor Rahm Emanuel will serve as chair of...
NAFTA Weakness Dampens US Steel Exports U.S. steel exports reached 1.036 million tons in February, dropping 3.8 percent from 1.077 million tons in the previous month and 14.4 percent year-over-year, according to government data, the American Institute for International Steel reports. "Weakness in NAFTA markets showed up powerfully in the February data, with the decline to our...
Maersk Pledges to Neutralize Triple-E Capacity Impact LONDON - Maersk Line vowed the imminent deployment of the world's largest container ships in the Asia-Europe trade would have a neutral impact on capacity as it warned of the risk of an all-out rate war on the westbound leg of the biggest liner route. Maersk will offset the increased capacity...
Croatia Set to Join EU in July Croatia is on track to become the European Union's 28th member state on July 1, according to EU member states in their last resolution before the nation is scheduled to join. The member states highlighted Croatia's democracy, social market economy and capacity to fulfill its membership obligations and called on the...
Navios shops for shipyards Navios South American Logistics of Uruguay is closing in on an order for six panamax products tankers but its chairman has pledged not to jump the gun.
Premuda profits dive Write-downs saw Italian shipowner Premuda hit by a EUR 47.9m ($62.6m) loss in 2012.
Bocimar sheds newbuildings Bocimar has offloaded a pair of handysize bulkers under construction at Samjin Shipbuilding Industries in Weihai, China.
Oryx cut loose Seanergy Maritime has continued to sell off ships as it fights to cut debt.
AMP eyes new bulkers Hong Kong's Asia Pacific Maritime (AMP) is lining up finance for a potential four-ship order in China.
Seanergy bathed in red Seanergy Maritime saw its bottom line slip almost $200m below zero in 2012 as it battled to restructure in a terrible market.
Schulte in bill of lading row A company associated with Bernhard Schulte today lost a London high court battle over liability for releasing a cargo of gasoil without production of the bill of lading.
Classic finds a hero George Economou's Classic Maritime has added a Greek-owned capesize to its fleet.
Ship scrapping levy ditched The European Parliament has kicked out a plan to impose a ship recycling levy on vessels calling at EU ports.
Crew "free to go" An overseas crew stuck on a detained cargoship in the UK are free to leave at any time, its owner has said.
PB eyes double figures Pacific Basin Shipping has expanded its acquisition drive to nine vessels and is looking to take the spending spree into double figures.
Nomikos wins $13m ruling The AM Nomikos group is heading for victory in a $13m dispute over a five year charter of a handymax bulker that went seriously wrong.
Wartsila to appeal Finland's Wartsila is to appeal a Chinese judgement that it defrauded a shipyard by supplying second-hand engines for Spliethoff newbuildings.
Slower start for LNG Production problems dragged down LNG spot rates by 14% in the first quarter, RS Platou Markets says.
KfW IPEX profit cut German lender KfW IPEX-Bank has posted a smaller profit for 2012 as the shipping slump dragged on.
Booked by BP Viking Supply Ships has won period charters from BP that takes its contract backlog to NOK 1.69bn ($292m).
Keppel net shrinks Keppel Corp has seen its first quarter profit cut in half as its shipyards' workload came down.
Counterfeit corsairs Western journalists are being duped into paying Kenyans cash for interviews with supposed Somali pirates who are really amateur actors.
Two of three to miss Deutsche Bank has cooled fears Korea's giant shipbuilders will follow the same path as compatriot construction companies and produce disappointing first quarter results.
Sell-off boosts Wartsila Finnish ship engine giant Wartsila has posted a bigger first quarter profit thanks to asset disposals.
Mangalia breaks new ground Daewoo Mangalia Heavy Industries has entered new territory after securing a product tanker order from Eastern Mediterranean Maritime of Greece.
100 ships, 100 days Around 100 ships have been beached for demolition in the first 100 days of 2013, according to cash buyer Star Matrix.
Haixia wants second route A Chinese ferry company is trying to launch a new crossing to Taiwan.
Palumbo "surprised" Italian shipyard chief Antonio Palumbo has protested his group's innocence after being accused of illegally disposing of hazardous waste.
Western wins duo Bangladesh's Western Marine Shipyard has won a deal for two new boxships.
Ezion seals rig deal Ezion Holdings has won a third contract to supply a service rig for deployment in Central America.
UASC leaving London United Arab Shipping Co (UASC) is dumping London for Hamburg as the new headquarters for its European operation.
PACD in the dock Drilling rig giant Transocean has filed a complaint of patent infringement against competitor Pacific Drilling.
Maersk warns of possible rate war "Some other lines have chosen to respond to lower demand levels by lowering prices. Such a move risks resulting in a fully-fledged price war: a development that concerns us," said Vincent Clerc, Maerk's chief trade and marketing officer.
USMX ratifies new ILA master contract The approval, which came eight days after ILA members voted to ratify the contract, was made by representatives from 43 container carriers, terminal operators and port associations, who met in Newark, N.J., on Wednesday.
ILA maintenance and repair workers have tentative deal The agreement was announced Thursday by New York/New Jersey port Local 1804-1's president, Dennis A. Daggett, on the union's Facebook page. He said "we are in the process of fine tuning the language."
American reaches first quarterly net profit in 6 years
UASC announces executive appointments
Commerce unveils community investment plan
St. Louis airport sees cargo growth in 1Q Bringing a freighter operator to the Midwest airport, however, remains the main goal. An official said once one carrier joins up, it will be easier to convince the second and third airlines to fly in to St. Louis.
DHL prepares for new EU security rules
Petitions force Trendset into bankruptcy filing
FMC reviews 5 OTI license applications
CEVA signs contract with fashion company
White paper outlines benefits of produce traceability initiative
GE awarded new contracts for electric power and propulsion systems In the last six months the company has signed contracts worth an estimated $80 million.
Prices lack direction in Fujairah Suez continued to set a downward trend.
Rotterdam prices remain soft But crude values are picking up.
Turkish canal: preliminary plans approved Proposals to build a waterway linking the Black and Marmara Seas appear to be going ahead.
New warnings of 'tight avails' Growing demand and tight avails will have 'a snow-ball effect'.
More orders for Wartsila Finnish engine manufacturer chalks up 22% rise in orders during first quarter.
Bunker demand eats into fuel oil inventories Singapore's onshore stocks of fuel oil drop by 8.1%.
Bunker prices in Asia remain soft Low prices boost demand in Tokyo Bay.
LNG set to be 'fuel of choice' within next decade LNG-fuelled shipping is part of that picture, says CEO.
China tests first LNG-fuelled fishing vessel The vessel has six 375-litre LNG cylinders which can replace 70%-80% of gasoil.
Analyst estimates 380 cSt to average $650 in 2014 Figure based on a crude oil price of $120 a barrel.
US Navy: Bunker cost savings, biofuel plans Fleet's newest amphibious assault ship has saved $15 million in fuel costs out of a budgeted $33 million.
Carnival Corporation managing fuel 'a lot better' Firm has benefited from 21% cumulative reduction in bunker consumption since 2007, says spokesman.
India considering duty-free bunkers for coastal shipping High bunker costs are a 'serious stumbling block' for Indian coastal shipping.
Environmental legislation could raise shipping costs by 50% Future likely to bring additional ECAs, says Senior Analyst at SSY.
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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