Navios unveils joint venture with Japanese owner Frangou lands 10-ship haul as Navios Asia lines up first six bulkers
Demolition rates prove resilient As monsoon season approaches in India, expected slowdown fails to materialise
Jaya down but not out The offshore services provider is negotiating the bumps as it expands its range
Marine warranty surveyors body ensures global standard New association is 'final piece of the jigsaw', says co-founder
Cargo insurers beware different definitions of terrorism Different countries' courts give different definitions
West of England's low claim levels push it closer to breakeven Investment return of 4% 'eliminates' underwriting loss
Estonia and Slovenia pull out of Atalanta Somali pirates are contained but not defeated, EU Navfor
Are we on the up? Race to buy panamax bulker highlights positive sentiment for asset values
Diana Shipping lends up to $50m to box affiliate Cash-rich dry bulk owner also orders two newcastlemaxes in China
Concordia passengers prompt probe into Costa's board Costa Cruises says it is 'serene' about new investigation
Comment: Why abolish surcharges now? Shippers will question MSC's decision to drop separate bunker charges
Update: MSC axes bunker surcharge Decision to ditch stand-alone prices to offset volatile rates dismays Dutch shippers
Boxships must sail even slower to soak up surplus tonnage Drewry calls on carriers to cut their unit costs to the bone as rates war rages on
Mexican crude boosts aframax market Spate of fixtures removes ships from spot market
Asia-US west coast spot prices hit $2,000 per feu watershed Carriers have cause for cheer as transpacific rates rise 0.7%
Global trends create credit winners and losers, says Moody's Game changers include falling US oil imports, onshoring and ecoships
Insurance market clashes over MLC provisions for unpaid wages International Group claims there is no such requirement - broker Seacurus disagrees
Wan Hai posts first-quarter net profit Non-operating gains see intra-Asia specialist outpace its compatriots
Unit holders flock to Rickmers Maritime $81.5m rights issue Singapore trust will pay down loans, extend a loan covenant waiver and cut finance costs
Cosco Pacific plans to sell stake in container-maker CIMC to its parent Following $1.2bn sale, port-operating giant will focus on core terminal and container-leasing businesses
Los Angeles and Long Beach make shore-power pledge All international terminals at California ports will offer cold ironing by year-end
Bipartisan flak hits US flag proposal PRESIDENT Obama's proposal to restructure the Food for Peace programme will be rejected because it would endanger the US flag, US lawmakers vowed today
IMTC's ships stymied MOROCCO'S IMTC said today it hopes to resume normal service in the next two weeks amid reports that several of its ships have been forced out of service because of financial problems
Girl killed, 225 held in migrant smuggling GREEK officials are today holding 225 people in attempts to smuggle migrants over the past week - one of which resulted in a girl's death
Analysts warn on Carnival CRUISE analysts today graded down Carnival Corp's stock, following yesterday's profit warning by the Micky Arison-led company
Far East/Europe box rates go negative BOX RATES in Far East/Europe trades are no longer covering carriers' costs, a liner shipping analyst said today
Chinese mariners freed PIRATES were reported today to have freed 16 Chinese seafarers and their vessel after two weeks of captivity
Caution grips breakers BUDGETS approaching in Bangladesh and Pakistan and the nearing South Asian monsoon season have made end-buyers more cautious about scrapping ships
Polarcus weighing issue of $95M in bonds POLARCUS, the Oslo-listed marine geophysical services provider, said it is weighing whether to issue $95M in unsecured bond
MMHE profits fall 35% MALAYSIA Marine & Heavy Engineering said today 1Q profits fell 35% to 50.6M ringgit ($16.8M)
STX Pan Ocean seeks buyers for four PCTCs STX PAN Ocean was said today to be seeking buyers for four pure car & truck carriers, as the debt-laden company attempts to raise cashflow, sources told Fairplay
VLGC rates hit 2013 high RATES to haul LPG on very large gas carriers have hit a 2013 high as traders rush to secure tonnage for free-on-board cargoes amid short vessel supply
Wan Hai turns to profits WAN HAI Lines was the only listed box shipping company in Taiwan to make net profits in 1Q13, according to its fiscal report
Höegh LNG gains $299M for Indonesia scheme NORWAY'S Höegh LNG Holdings said it has received $299M in commitments from five banks to finance an Indonesian regasification scheme
China COSCO to raise $468M CHINA COSCO, the flagship listed unit of China Ocean Shipping Group, plans to raise 2.9Bn yuan ($468M) by selling its subsidiary's stake in CIMC, in a move to boost its operating performance in 2013
China Exim Bank pledges Greek ship lending CHINA Exim Bank said it has agreed to provide three Greek shipowners with financial support
Hours of Service, Freight Capacity Top NITL's Forum Agenda Freight and infrastructure capacity will lead the agenda at the National Industrial Transportation League's Spring Policy Meetings in Chicago May 23 and 24. Shippers will face hard choices about transportation modes and supply chains in coming months, as new work rules cut truck driver hours and productivity. In coming years, the lack...
Marten Transport to Participate in the KeyBanc Capital Markets' Industrial, Automotive and Transportation Conference MONDOVI, Wis. - Marten Transport, Ltd. (Nasdaq:MRTN) announced today that the Company is scheduled to present at the KeyBanc Capital Markets' Industrial, Automotive and Transportation Conference at the InterContinental Boston Hotel in Boston, Massachusetts on Wednesday, May 29, 2013 at 9:00 A.M. Eastern Time. The slides for this presentation will be...
Leading US Transportation Service Provider Rolls Out Trailer Fleet Management Solution From I.D. Systems WOODCLIFF LAKE, N.J. - I.D. Systems, Inc. (Nasdaq:IDSY), a leading provider of wireless solutions for securing, tracking and managing high-value enterprise assets, today announced that it has been awarded a contract by a leading publicly-held transportation services company to deploy I.D. Systems' VeriWise(TM) Track and Trace system on a diverse...
Roehl Transport Selects ALK Technologies' CoPilot Truck With RouteSync Capability PRINCETON, N.J. -ALK Technologies, Inc., a global leader in GeoLogisticsTM and navigation software, today announced that Marshfield, Wisconsin-based Roehl Transport has selected CoPilot® TruckTM - ALK's truck-specific on-board navigation solution - within a fully integrated system to achieve route compliance. Roehl Transport, a diversified truckload transportation and logistics service provider, operates...
Cargo Tonnage Grows at HKIA Cargo throughput at Hong Kong International Airport reached 342,000 metric tons in April, up 4.5 percent year-over-year. Export cargo rose 5 percent, HKIA said, with throughput to and from Southeast Asia and Taiwan outperforming other key regions. In the first four months of 2013, HKIA handled 1.28 million metric tons of cargo,...
YRC Freight Begins Terminal Network Changes YRC Freight this week launched a restructuring plan that will close 29 terminals and three distribution centers and affect as many as 1,200 workers nationwide. The change of operations, the second network reorganization in two years for YRC Freight, is projected to save the company $25 million to $30 million a...
Diana Containerships Posts First Quarter Loss Diana Containerships today reported a net loss of $31.8 million in the first quarter of 2013, compared with a net income of $1.9 million in the first quarter of 2012. The decrease resulted from a non-cash impairment loss of $32.6 million recorded during the quarter for the vessels Maersk Madrid, Maersk...
US Intermodal Rates Eke Out Gain After 5-Week Decline U.S. overall spot rates, week of May 20, 2013 Full-size image The overall U.S. intermodal index inched up 0.1 percent or $2.22 this week due to increases in the east-west and north-south directional indices, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS. The overall...
PrePass-CargoNet Alliance Aims to Hinder Cargo Theft HELP Inc. is strengthening its support of cargo theft recovery efforts by delivering CargoNet theft alerts through the PrePass system to roadside enforcement officers at nearly 300 truck inspection facilities in more than 30 states. CargoNet alert information will be provided to site officers through the PrePass site system-messaging feature. "Providing roadside officers...
Kerry Logistics Deploys Hybrids in Hong Kong Kerry Logistics has deployed three hybrid electric vehicles (HEVs) as part of a pilot program under the auspices of Hong Kong's government. Hong Kong's government is pursuing trails of medium-sized HEVs. The vehicles operating in Hong Kong are using a combination of fuel and battery-powered electricity. For two years, the logistics service...
Smit Tugs Move Crippled UASC Ship to Saudi Arabia United Arab Shipping Co.'s ship Asir, which was crippled by an explosion that occurred in its engine room on May 11, has been moved to Jeddah, Saudi Arabia, by two tugs from Smit Salvage. Prior to the arrival of the tugs, UASC vessels Ain Snan and Jebel Ali had, in turns,...
DNJ Intermodal Services to Open Office in Nebraska DNJ Intermodal Services will open a new office in Omaha, Neb., on June 1. Additionally, the intermodal transportation and logistics firm has promoted team member Mason George from regional manager to the position of regional vice president for DNJ Intermodal Services' Midwest region. In his new role, he will oversee management...
Penske Truck Leasing Opens Facility in Arizona Penske Truck Leasing's new Phoenix facilityPenske Truck Leasing has opened a new $6 million, 24,000 square foot facility in Phoenix. The facility, situated on 10 acres, provides truck leasing, consumer and commercial truck rental and contract truck fleet maintenance services. It features five truck service bays, an automated wash bay,...
Polar Air Cargo to Upgrade Intra-Asia, Trans-Pacific Services Polar Air Cargo plans to upgrade its 767 intra-Asia services and 747 trans-Pacific services, starting in early June. One Boeing 767-300 freighter will operate between Tokyo; Sydney; and Incheon, South Korea, while a second 767-300 will operate between Taipei, Taiwan; Nagoya, Japan; and Incheon. With other previously announced routes, this will allow...
Kane Is Able Hires Griffith as SVP of Business Development, Marketing Gary Griffith, Kane Is Able's new senior vice president of business development and marketing.Kane Is Able has named Gary Griffith its new senior vice president of business development and marketing. Griffith will direct Kane's national sales and marketing efforts to serve the consumer packaged goods industry. He will report to Pete...
ORBCOMM Launches M2M Devices for Logistics Industry ORBCOMM, a global provider or machine-to-machine solutions, has unveiled four asset-tracking and monitoring devices for the transportation and logistics industry. All four of the solutions in ORBCOMM's product portfolio complement the GT 1100, ORBCOMM's first M2M device for intermodal container and trailer tracking and monitoring: The GT 2000 is a cargo security...
Genesis Energy to Improve Rail Capacity in Mississippi, Wyoming Genesis Energy will expand its rail terminal in Natchez, Miss., and construct a new unit train loading facility in Wyoming in the Powder River Basin of the Niobrara shale play. At the Natchez terminal, designed to handle straight and minimally diluted bitumen delivered by Canadian National Railway, Genesis is finalizing the...
US Containerized Imports Drop 7 Percent U.S. containerized imports through March 2013 Full-size image U.S. containerized imports experienced a 7 percent year-over-year drop in March 2013, according to advance figures from PIERS, a JOC sister company. Total U.S. containerized imports fell to 1.26 million 20-foot-equivalent units, the first month with a volume below 1.3 million TEUs since February...
US, Tunisia Launch Small Business Initiative The U.S. and Tunisia have launched an initiative to support the development of small and medium-sized enterprises, boost trade and promote economic growth. Developed under the U.S.-Tunisia Trade and Investment Framework Agreement, which is led by the Office of the U.S. Trade Representative, the initiative, funded and led by the U.S....
Carnival pounded Shares in Carnival Corporation plunged today after the cruiseship owner downgraded its earnings expectations for the third time this year.
"Bug tug" for sale A tug which hit the headlines last year over its cockroach-infested condition has been put up for sale in Canada.
Greek takes a breather Silver Maritime of Greece is being tipped for a quick comeback after tossing its only vessel on the scrap heap.
Mission accomplished Ever-expanding Diana Shipping has stepped into the capesize newbuilding market for the first time in three years.
Tidewater profit swells US offshore giant Tidewater posted a jump in first quarter income as revenue rose on higher charter rates and utilisation.
Greek in distressed deal Eastern Mediterranean is being tipped as the potential buyer of a panamax bulker which has been auctioned following the bankruptcy of its German KG owner.
DCIX fills war chest Nasdaq-listed Diana Containerships (DCIX) is targeting ship acquisitions with a fund of up to $90m.
Shih Wei weaker Taiwan's Shih Wei Navigation has made a slower start in the first quarter as costs rose.
Bumi boosts bottom line Bumi Armada posted a strong set of first quarter numbers as revenue grew across all its major business segments.
End of the line for Elbe Danaos Corp has continued its scrapping efforts with the disposal of another vessel in India, sources say.
Cosco enters LNG fray Cosco Corporation (Singapore) has confirmed a breakthrough into the LNG shipbuilding arena with an order for a small size ship.
Knutsen sells another Norway's Knutsen OAS Shipping has reportedly sold another of its veteran products tankers as its clear-out continues.
MMHE profit sliced Malaysia Marine and Heavy Engineering Holdings (MMHE) blamed its offshore division for a large drop in first quarter earnings.
Tufton in at Baltic Tufton Oceanic has emerged as a major shareholder in Peter Georgiopoulos-backed bulker owner Baltic Trading.
Pallas posts a profit Sweden's Pallas Shipping has made it back into profit in the first nine months of its financial year.
Tanker on the block An Indian court has ordered the sale of a chemical tanker due to unpaid bills.
LPL enters the game LPL Shipping has stepped into the second hand market to pick up a bulker from Fostiropoulos-controlled Fairsky.
Hornbeck back at Leevac Louisiana-based Hornbeck Offshore has confirmed a pair of multipurpose supply vessel (MPSV) newbuildings at nearby Leevac Shipyards.
NWS losses widen Russia's North-Western Shipping Company (NWS) has posted a 220% increase in its first quarter loss.
Hoegh bags FSRU cash Hoegh LNG has bagged a loan to fund an FSRU bound for Indonesia.
Polarcus eyes $100m Polarcus is lining up a near $100m fundraiser on the international bond markets.
Cape wins second life Lou Kollakis has saved a capesize bulker from the scrap heap.
Cosco eyes box cash The terminals arm of China's Cosco group is raising cash by selling off part of a container company stake.
Cruise ship refloated A small cruise ship that ran aground off the coast of Scotland on Monday evening has been refloated.
Wenchong wins barges China's Guangzhou Wenchong Shipyard has signed a contract to build two barges for a domestic dredging company.
Japanese orders rise Ship orders more than doubled at Japanese shipyards in April.
Wan Hai back in black Wan Hai Lines has done something its larger domestic competitors could not in the first quarter - make a profit.
LA sees volumes slide The Port of Los Angeles has seen a near 10% decline in container throughput during April, latest figures show.
Turkey set to soften Demolition prices at Turkish ship breakers are forecast to weaken in the near future, a top shipbroker has warned.
Cheetah heads for demo Odfjell looks to have sent its first ship for demolition in 2013 with the sale of a tanker into recyclers in India.
ABN AMRO backs Sentinel ABN AMRO's private equity arm has emerged as an investor in an order for up to eight offshore vessels in China.
'In ORIG we trust' Many market researchers expect to find DryShips trapped in the red when it reports earnings on 22 May.
EU adds 37 million euros to fight piracy The money will be used to develop the legal system in the affected countries, strengthen financial oversight systems that could prevent the flow of money to pirates, share expertise and training, and provide security support.
Teamsters release details of tentative ABF contract A 7 percent wage reduction, but no major cuts to health or pension benefits are amid the details of the tentative contract between the less-than-truckload carrier and its union drivers. A union vote on the proposal is set for June 3.
Stake in container manufacturer being sold COSCO Pacific has entered into a conditional agreement to sell its 21.8 percent indirect interest in CIMC for $1.2 billion to Long Honor Investments Ltd., which today has a small 0.95 percent stake in the company.
CEVA takes revenue hit in 1Q The third party logistics provider's revenue dropped 6 percent, year over year, in the first quarter to 1.6 billion euros ($2.06 billion), and adjusted earnings dropped from 66 million euros to 31 million euros.
MSC to start new service to Dominican Republic
New service to link China, Taiwan and Australia
Polar cargo adds Asia-U.S. route
Association to certify truckers against trafficking
Washington Notebook: Virginia transport politics, Commerce's export awards
World Fuel Services outpaces Apple in growth over past decade WFS outpaced other industry giants, including Apple Inc, over this period on a percentage basis.
US energy efficiency proposal finds favour at IMO Phased approach to reducing fuel consumption for all ships broadly supported as a way forward.
Prices lose direction in Fujairah Price movement sluggish in South African ports.
Rotterdam market settles MGO goes up by $9 per metric tonne.
Lack of finance 'blocking investment in fuel-efficient ships' New trends in shipping carry the potential 'for a few winners and many losers,' says Moody's.
Price manipulation probe: 'No adverse findings,' says CEO Comments made at Shell's AGM, Tuesday.
Bunker avails improving in Japan Demand is down month-on-month, say players.
Update of IMO GHG study gets go-ahead Previous study pegged international shipping's bunker consumption at 277 million mt, contributing 2.7% of global man-made CO2 emissions.
Bunker prices mixed in Asian trade Singapore 380 cSt jumped by $18 a tonne.
MSC gets rid of bunker charge BAF no longer rated as separate item to TEU freight rate.
Oil traders facing jobs squeeze Companies are cutting the number of traders working in Asian markets, say players
Vinalines: One down, six to go Struggling Vietnamese carrier notches up one sale.
China likely to support development of LNG-fuelled ships Introducing policies to support development of LNG bunkering in the second half of 2013, says report.
UK firm orders second fuel-saving workboat The vessel features an 'impressive measured fuel consumption of 100 litres per hour at 20 knots', says MD.
Dan-Bunkering expands Monaco office Nicolai Baden to be a bunker trader at its Monaco office, from May 6.
Potential bunker pollution threat from sea bed Shipwrecks identified as source of pollution.
Sharp rise in Lanka IOC profits Partly due to no losses in forex trading in quarter ended March 31.
'Increasing interest' in LNG as bunker fuel Interest seen across containership, LNG tanker, and cruise markets.
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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