Navios Europe launched ANGELIKI Frangou's Navios Group today announced forming Navios Europe, a new entity that will acquire distressed tonnage from HSH
Spill spreads in deadly Philippines disaster LOCAL authorities in the Philippines have declared a "state of calamity" as oil spilling from the sunken ro-pax St Thomas Aquinas spread today to towns near Cebu
StealthGas shares sink on earnings miss NASDAQ-listed StealthGas today reported quarterly earnings that disappointed both Wall Street investors and founder Harry Vafias
TMSC expanding into crude and LNG SHANGHAI-listed box carrier TMSC said today it plans to order 10 VLCCs and four LNG carriers
Lithuanian Shipping's losses 1H13 deepen LITHUANIAN Shipping said losses totalled 9.8M litas ($3.79M) in 1H13, deeper than 8.3M litas year on year
Nanjing's port profits drop by 27.8% SHANGHAI-listed Nanjing Port said it had net profits of 16M yuan ($2.6M) in 1H13, representing a 27.8% year on year drop
PETRONAS ships move shocked MISC MISC HAS said it was stunned by the decision of its parent PETRONAS to build its own fleet
GasLog touts prospects NYSE-listed GasLog today reported higher profits on a larger fleet and confirmed a rising preference for fuel-efficient tonnage versus older vessels
Aegean falls short BUNKER supplier Aegean Marine Petroleum Network has reported lower adjusted profits on weaker margins
COSCO International's 1H profits fall 44% HONG KONG-listed COSCO International's profits dropped 44% year on year to HK$130.9M ($13.4M) in 1H13, due to weak demand for shipping services
COSL's profits rise CHINA Oilfield Service said today its 1H13 net profits climbed to 3.18Bn yuan ($520M), a 32.6% year on year climb
5 migrants feared dead RESCUERS today saved 106 migrants from a smuggling vessel swamped 120nm off Christmas Island, but a search has been suspended for up to five victims
Hainan Strait profits cut by one-third SHENZHEN-listed Hainan Strait Shipping said its net profits dropped 34.63% year on year in 1H13, to 67.21M yuan ($10.9M)
Formosa to invest $1.15Bn in Oz scheme TAIWAN'S largest private group, Formosa Plastics, has agreed to invest $1.15Bn in the Iron Bridge metals scheme in Australia
Offshore stays 'neutral' THE RATING for Singapore's oil and gas services segment remains 'neutral', as players delivered mixed results for 2Q13, DMG & Partners said today
ILA, Virginia Employers Resume Local Talks International Longshoremen's Association President Harold Daggett and other ILA officials met with employer representatives Tuesday in an effort to reach agreement on a local contract covering about 1,650 dockworkers in the Port of Virginia. Although the ILA and United States Maritime Alliance ratified a coastwide master contract last April, supplemental local...
Australia's Merchandise Imports Jumped in July Australia's international merchandise imports in July totaled A$22.0 billion (about US$20.0 billion), a jump of 20 percent from $18.3 billion in June, according to the Australian Bureau of Statistics. In seasonally adjusted terms, goods imports rose 5 percent between June and July to $21.5 billion. Intermediate and other merchandise goods increased...
ALAN Founder, Terminal Chairman 'Jock' Menzies Dies John T. "Jock" Menzies III, a Baltimore warehousing executive who turned his logistics talents to global disaster relief, helping hundreds of thousands of people survive in the wake of earthquakes and hurricanes, died Aug. 17. He was 69. Menzies was fatally injured in an accident on his own property in Arnold,...
ILA Expresses 'Solidarity' With New York Port Drivers The International Longshoremen's Association said it is in "full solidarity" with owner-operator container haulers who have suffered "undue hardship" during this summer's operational delays at the Port of New York and New Jersey. "These independent port drivers, whose livelihoods are based on the number of moves they make, were subjected to...
Protests Again Disrupt Oakland Port Operations All of the marine terminals at the Port of Oakland were back in operation by mid-morning Tuesday following more trucker demonstrations and a claim by dockworkers that the trucker pickets presented a health and safety issue at one of the terminals. Harbor truckers are angry about delays at Oakland marine terminals...
South Carolina Ports Authority Posts Revenue Growth South Carolina Ports Authority reported its revenue in fiscal year 2013, ending June 30, 2013, was $140.49 million, up 7 percent year-over-year from $130.95 million. The SCPA's fiscal year 2013 operating expenses totaled $127.77 million, leaving operating earnings of $12.72 million, a net gain of $5.45 million from the previous year. "Given...
Trucking Profits in Slow-Paced Recovery Top 50 Truckload Carriers 2011-2012 Full-size chart The U.S. economy marked a milestone in June: the beginning of a fifth straight year of recovery as measured by growth in gross domestic product. Don't worry, you didn't miss the ticker-tape parade. With GDP increasing 1.1 percent and 1.7 percent in the first and...
PTA Holdings Expands Refrigerated Service PTA Holdings is expanding its refrigerated truckload business, adding a baked goods shipper in San Antonio, Texas, to balance northbound and southbound loads. The new customer provides bakery products to the fast-food industry. PTA's refrigerated fleet will haul baked goods from San Antonio to Chicago and Wisconsin. The northbound loads will help...
Air Canada's Cargo Slipped 0.8 Percent in June Air Canada reported cargo traffic of 130.5 million metric ton-kilometers in June, down 0.8 percent compared with the same month last year, according to Statistics Canada. Cargo volume for Canada's largest airline was 20.5 million kilograms in June, falling 1.5 percent year-over-year. With regard to cargo, Air Canada's load factor was...
US to Investigate Imports of Oil Country Tubular Goods The U.S. International Trade Commission has determined that the U.S. oil country tubular goods industry is "materially injured" by imports of OCTG products from nine nations that are sold at "less than fair value." As a result of the commission's determinations, as well as a unanimous vote by all six ITC...
US Intermodal Rates Fall to Six-Week Low Overall index, week of August 19, 2013 Full-size image U.S. intermodal rates fell $8 in the week of Aug. 19, pulling the average down to a six-week low at $2,009, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The top 12 and top 18...
Clarksons' Profit Stalls Clarksons, the world's biggest shipbroker and shipping services group, posted stagnant profits and revenues for the first half of the year amid depressed markets in most shipping sectors. Pre-tax profit was unchanged at £10.8 million ($16.75 million) in the six months through June as the London-based firm's revenue edged up to...
Navios Group Forms European Subsidiary The Navios Group has announced the formation of Navios Europe as the next step in concluding its letter of intent signed with HSH Nordbank in April 2013. Navios Europe, which will initially acquire five container vessels and five product tankers from debtors of HSH, will be owned 47.5 percent by Navios...
Survey: Shippers' Confidence Continues to Build in Europe Stifel Logistics Confidence Index: Total freight (air and ocean). Full-size image The Stifel Nicolaus Logistics Confidence Index, a monthly survey of international shippers and forwarders measuring Europe-based air and ocean freight trade lanes, conducted by Stifel Nicolaus Transportation & Logistics Research Group, rose for a third month in August, up 8.9 percent...
Transloading's Upward Track Los Angeles-Long Beach handles some 40 percent of U.S. containerized imports, but what happens to that cargo once it lands is undergoing fundamental change, reflecting larger trends in U.S. freight transportation. The main point is rail's growth in popularity overall as a means of moving goods imported through LA-Long Beach, and...
GlobalFoundries' Upstate NY Plant Requires World-Class Supply Chain When Werner von Braun flew over a former 19th century pig farm in upstate New York's Luther Forest in the late 1940s, his eyes lit up. The site in the town of Malta, at the foot of Lake Saratoga, reminded the German rocket scientist of Bavaria and struck him as...
Norfolk Southern to Hike Domestic Intermodal Rates Norfolk Southern double-stack intermodal trainNorfolk Southern will hike its domestic intermodal rates in September. Effective Sept. 15, the Class I railroad's equipment management program rates published in open-ended Norfolk Southern price quotations will be increased by 2.5 percent. A customized file listing the affected quotes and the new rate will be...
COSCO Container Lines Americas Appoints Peter R. Vigil AVP for Export Sales Secaucus, NJ (August 19, 2013) - Mr. Timothy Marsh, Executive Vice President, Trade, of COSCO Container Lines Americas, Inc. (CCLA) has announced the appointment of Peter R. Vigil to the position of Assistant Vice President for Export Sales. CCLA is one of the world's premier ocean carriers, calling on ports...
Port Everglades Participates in 'Safety of Souls at Sea' Conference DATE: August 19, 2013MEDIA CONTACTS: Maisy AlpertPHONE: 954-468-3505EMAIL: malpert@broward.org BROWARD COUNTY, Fla. - Port Everglades staff and port users discussed the Port's relationship with seafarers, most of whom are from outside the United States, and their needs at the annual conference of the North American Maritime Ministry Association (NAMMA) held in Fort Lauderdale, FL, August 5-8, 2013....
CSAV sets revised target Compania Sudamericana de Vapores (CSAV) is moving forward with a fundraiser aimed at securing the cash it needs to finance a series of containerships under construction at Samsung Heavy Industries in South Korea.
Sun sets on Princess cruise Efforts to overhaul the cruise sector's image suffered another setback Tuesday following the cancellation of a trip tied to a vessel that just received a $30m makeover.
GLOG keeps its cool GasLog doesn't plan on raising additional equity to fund its latest round of ship acquisitions anytime soon, according to chief executive Paul Wogan.
Jumpstart for drybulk A leading equity analyst upgraded shares of Greek bulker owner Diana Shipping Tuesday based on a bet that asset prices are starting to stabilise.
GASS loses ground Shares of Greece's StealthGas tumbled in early trading Tuesday after turning in a second-quarter result that failed to live up to expectations.
Cape hopes rising Capesize rates today hit the highest level of the year and hope is rising for a strong fourth quarter and further progress in 2014 and 2015.
NNA on the money Navios Maritime Acquisition (NNA) has trimmed its second quarter deficit and met Wall Street forecasts in the process.
Stealth sights more buys Harry Vafias says further acquisitions are on the cards for StealthGas as the Nasdaq-listed owner reports a dip in second quarter earnings.
Another floater for Oz? Woodside Petroleum has called for floating LNG (FLNG) to be used to develop the Browse gas reserves off Western Australia.
FRNT wins VLCC fight John Fredriksen's Frontline 2012 has culled a fourth VLCC newbuilding at Jinhai Heavy Industries after winning a dispute over the cancellation of three other tankers at the yard.
Trio eye Saudi yard National Shipping Company of Saudi Arabia (Bahri) is joining forces with compatriot oil firm Saudi Aramco and Singaporean engineering giant Sembcorp Marine to develop a yard in the Middle Eastern country.
Navios redraws HSH pact A third listed company from the Navios empire has been added to a vehicle taking over 10 distressed vessels from HSH Nordbank.
GasLog turns Q2 profit GasLog swung to a profit in the second quarter thanks to the delivery of three newbuildings this year.
MOL ship saves one A Mitsui OSK Lines LNG carrier has rescued a fisherman stranded off the Philippines after his vessel ran out of fuel.
Keppel wins a fifth Keppel has bagged an order to build a fifth offshore accommodation unit for its Oslo-listed subsidiary Floatel.
Reach red for now Reach Subsea has recorded a loss for the second quarter which saw the company build the foundations of its business.
Yujin selling again London-listed Yujin International has continued the sell-off of its small fleet of bunker tankers.
Kiani Satu going down A German controlled general cargo ship refloated in South Africa just three days ago looks set to sink.
Writedown hits Glencore Glencore Xstrata has revealed a huge loss in its first financial report as a combined company after writing down the value of Xstrata's assets.
Fisher books strong profit James Fisher has impressed the City with a strong set of first half accounts.
SHI confirms double Korea's Samsung Heavy Industries (SHI) has confirmed an order for a pair of LNG carriers.
Fisher sells Foreland slice James Fisher has confirmed speculation about the sale of its ro-ro investment and offloaded its stake in Foreland Holdings to partner Hadley Shipping.
Belships board says no Belship's board of directors have advised shareholders not to accept the current mandatory offer for the Norwegian shipowner.
Port slashes emissions The US Port of Long Beach has cut diesel particulates by 81% since 2005, according to a newly released analysis.
Minerva opts for eB/L Minerva Marine has become the latest shipowner to sign up to electronic bill of lading (eB/L) for its dry bulk fleet.
Smart looks doomed A capesize bulker that ran aground off Richards Bay in South Africa looks set to be a constructive total loss.
Aegean profit doubles Aegean Marine Petroleum has seen its profit for the second quarter of 2013 double compared to a year ago.
Moundreas cape aground Authorities in South Africa are struggling to free a capesize bulker that ran aground in rough seas off Richard's Bay, officials told TradeWinds Monday.
Calling Uncle Sam A leading US barge operator has turned to the federal government for aid in financing an order at Conrad Industries of Louisiana.
Survey says California has busiest highways The 21.4 billion miles traveled on California's Interstate 5 during 2011 (the most recent year available) puts the road in the top spot as the nation's busiest interstate. Los Angeles can lay claim to the busiest interstate in a U.S. city.
Florida dishes out $5 million for intermodal projects FDOT on Monday awarded $5 million worth of grants to four logistics projects in the state, including $2.5 million for the South Florida Logistics Center in Miami, from the state's new intermodal infrastructure support program.
GENCO taps Nightingale as Transportation Logistics head In this role, Tom Nightingale will be responsible for growing revenue and expanding GENCO's logistics business. Today, the Pittsburgh-based 3PL firm manages more than $1.5 billion in freight annually.
VIT's legal status changed
Maersk to hike rates to South America west coast
Washington Notebook: NCBFAA seeks to loosen 'confidentiality' standard
Navios takes delivery of 2 containerships
Contrasting fortunes at SoCal ports continues in July
Old Dominion opens Chicago service center
New maritime labor convention comes into force "This convention is a milestone in maritime history," said ILO director-general. "The product of tripartite dialogue and international cooperation, it enables decent working and living conditions for seafarers."
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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