Cruise board under pressure ROYAL CARIBBEAN shareholders have voted against the wishes of the board and approved a proposal for annual re-elections of directors
EC sidesteps port services shift THE EC today unveiled its eagerly awaited port initiative
Teekay LNG unveils equity sale NYSE-listed Teekay LNG has announced an agreement for time-to-time sales of its common units to raise up to $100M
MISC posts $111M profits for 1Q13 MISC today posted 336.7M ringgit ($111M) in net profits for 1Q13, reversing losses of 434M ringgit for the same period of last year
Trading result lifts HSH EMBATTLED shipping bank HSH Nordbank surprised today by reporting 1Q net profits of €73M ($94.23M), aided by write-backs on financial instruments
Ezion issues $87M in notes SINGAPORE-listed Ezion Holdings said today it has issued S$110M ($87M) notes under its S$500M multicurrency debt issuance programme
SSC's profits fall 43% SINGAPORE Shipping Corp posted a 43% drop in profits to $1.2M for its fourth quarter ended on 31 March
CEVA Logistics Names Barnett as Automotive VP for the Americas CEVA Logistics has appointed Jim Barnett as vice president of its automotive division for the Americas, effective immediately. Barnett will be based in Detroit and brings nearly 20 years of supply chain management and automotive manufacturing experience to this role. He joined the supply chain company in 2009 and for the...
Celadon Trucking Services Acquires Hyndman Transport Celadon Trucking Services, part of Celadon Group, has agreed to acquire Hyndman Transport, based in Wroxeter, Ontario. Additional terms and conditions of the transaction were not disclosed. Hyndman operates about 175 tractors and generated approximately $48 million in revenue in 2012, comprising domestic Canadian shipments and international shipments between Canada and the...
Sometimes Good Guys Finish First Things are changing at the Port of Long Beach. Robert Kanter, director of environmental affairs and planning, is retiring, taking years of valuable experience and talent dealing with environmental issues with him. Bob has been with the port for a number of years, with his last assignment overseeing the port's environmental,...
USDA Releases Country of Origin Labeling Rule The U.S. Department of Agriculture has released a final rule to change the labeling provisions for muscle cut commodities covered under the Country of Origin Labeling program. The final rule requires the origin destinations of muscle cut covered commodities to include information about where each of the production steps, such as...
Norfolk Southern Opens Bulk Transfer Facility in Tennessee Norfolk Southern has unveiled its new $5.9 million Thoroughbred Bulk Transfer terminal in Knoxville, Tenn., which will allow customers to transfer a large array of commodities between railcars and trucks. The Class I railroad's new terminal, adjacent to its railyard, is near Interstate 275, I-40 and I-75. The facility, which features...
GM to Build Logistics Optimization Center in Michigan General Motors will invest $44.5 million to build a logistics optimization center at its Lansing Grand River Assembly plant in Michigan. The investment will be used to build a 400,000-square-foot building adjacent to the plant to sequence and assemble parts to make manufacturing more flexible at the site. The Lansing Grand...
Maine Academy's Loeb-Sullivan School Names New Dean William J. DeWitt III will be stepping down as associate dean for Maine Maritime Academy's Loeb-Sullivan School of International Business and Logistics by this year's fall semester and will return to teaching full-time as a professor of logistics at the school. Donald Maier has been elected by the faculty as department...
Port of Tacoma's Container Volume Continues to Rise The Port of Tacoma in Washington reported container volume from January to April was 617,076 20-foot-equivalent units, up 35 percent year-over-year. Full containerized imports and exports posted double-digit growth. Imports improved 48 percent year-to-date to 226,676 TEUs, while exports rose 40 percent to 177,185 TEUs. Foreign containers in the first four months...
US House Approves Keystone XL Pipeline The House of Representatives has approved a bill to allow construction of the Keystone XL pipeline, which would transport about 830,000 barrels of oil per day from North American oil supplies to U.S. refineries. H.R. 3, the Northern Route Approval Act, was passed "as expected," specifically declaring that a presidential permit...
Slideshow: US Industrial Real Estate Market Trends When Jones Lang LaSalle, the Boston-based commercial real estate services firm, released its first quarter industrial real estate market report, several facts underscored the recovery taking place throughout the United States: sustained declines in national vacancy rates, increased absorption of existing space, rising rental prices and a surge in construction...
Yusen Logistics Expands Trans-Pacific LCL Services Yusen Logistics has expanded its direct less-than-containerload services by adding two new routes to its network, including a twice-weekly service from Shanghai to Los Angeles and a weekly multi-country consolidation service from Singapore to Los Angeles. The Shanghai Direct LCL Service is the first in Yusen Logistics' portfolio to feature a...
Ports of Long Beach, LA Seek Technologies to Cut Vessel Pollution The Port of Long Beach and the Port of Los Angeles are seeking information about technologies that could substantially reduce air pollution from main engines on ships calling at the ports. Vendors of such technologies are being asked to submit information by July 19, 2013, as outlined in the request for...
Managing Supply Chain Complexity As companies pursue global business expansion, their supply chains become more complex and segmented. These companies are looking to expand their business and increase competitiveness by selling and distributing finished goods in new global markets, or may be diversifying their sourcing origins to minimize disruptions to their supply chains from...
Mexican Carload Traffic Jumps 15 Percent Mexican carload traffic jumped roughly 15 percent year-over-year in the week ending May 18, according to the Association of American Railroads. This is the highest of this volume seen in 12 weeks. Combined North American carload volume, including all three North American Free Trade Agreement partners, rose 1.7 percent from the same week...
Haynes Furniture Leases Distribution Space in Illinois Haynes Furniture expands into the Chicago area.Haynes Furniture has signed a new long-term lease with American Realty Advisors, which was acting on behalf of its clients, for 215,400 square feet of industrial space in Addison, Ill. Haynes Furniture, a Virginia-based retailer, is expanding into the Chicago-area market, choosing this distribution facility...
Class 8 Truck Orders Continue Upward Trend Net orders for Class 8 trucks totaled just over 23,200 units in April, up 36 percent year-over-year, remaining above 20,000 units for a seventh consecutive month and reaching the second highest volume in 16 months, according to ACT Research's State of the Industry report, which covers Classes 5 through 8 vehicles...
US, Myanmar Sign Trade and Investment Framework Agreement Demetrios Marantis, acting U.S. trade representative, and Pwint San, Myanmar's deputy commerce minister, have signed a trade and investment framework agreement, creating a platform for ongoing dialogue and cooperation on bilateral trade and investment issues. As part of this dialogue, the two sides will collaborate to identify initiatives that support the...
More Than $90 Million Available for US Port Security Grants The U.S. Department of Homeland Security's Federal Emergency Management Agency has announced that total funding available for the fiscal year 2013 Port Security Grant Program is about $93.2 million, to be invested in maritime transportation infrastructure security activities. DHS has apportioned a percentage of the total amount available to port area...
EAS tanker standoff ends Brazil's Transpetro has put an end to the year-long suspension of 12 newbuilding contracts at Estaleiro Atlantico Sul (EAS).
Crowley closes in Crowley Maritime Corp of the US hasn't abandoned plans to build a series of lift-on, lift-off (lo-lo) containerships but the timing of the order remain unclear.
More sales possible George Economou's DryShips is considering further sales of newbuildings or of shares in drilling spin-off Ocean Rig after chopping its cash with the recently announced sale of a quartet of bulker contracts.
Greek stats stir debate A decline in the number of Greek ships on the water has stirred up political debate in Athens.
TMT settles with NewLead Nobu Su's Today Makes Tomorrow (TMT) and Greek shipowner NewLead Holdings have settled a long running legal dispute that resulted in the Taiwanese owner being slapped with an 18 month prison sentence.
DryShips deal in focus DryShips' move to sell four unfunded newbuildings to help relieve its debt headache has been questioned by one of Wall Street's leading analysts.
Backing for Baltic issue Baltic Trading's $20m fundraiser has received a tentative round of applause from analysts.
StealthGas dips Harry Vafias-led StealthGas has posted a lower net profit for the first quarter as costs rose.
Atlantic profit slips Norwegian offshore shipowner Atlantic Offshore slipped deeper into the red during the first quarter due to financing costs and currency effects.
MISC turns it around Malaysian owner MISC has seen a turnaround in its financial fortunes after stripping out much of its loss making shipping operations.
Port blasted over wreck The Australian port of Christmas Island had not prepared for an accident like the breaking up of the cargoship Tycoon, a report has found.
HSH loan losses jump Germany's HSH Nordbank does not expect a shipping recovery in 2013 as its first-quarter loan loss provisions increased again.
Titan handed ultimatum The Hong Kong Stock Exchange (HKSE) has challenged embattled Titan Petrochemicals to demonstrate that it has a "business of substance" or risk being thrown off the stock market altogether.
Greek denies exit Ocean Wave Maritime of Greece has shredded reports it is exiting the shipping business with the disposal of its final vessel.
Sincere slides again Falling revenues have hurt Sincere Navigation's earnings in the first quarter.
NewLead given deadline NewLead Holdings has been handed formal notification that the company has breached stock exchange rules by failing to submit its annual report on time.
Big 10 for Jinhai Norway's SinOceanic Shipping has ordered 10 8,800-teu containerships in China "on behalf of foreign interests."
Diana defends loan Diana Shipping has defended its decision to turn banker by offering a $50m loan to spin-off Diana Containerships.
Teekay turns on the tap Teekay LNG Partners has cleared the way to raise up to $100m from shareholders.
COSL orders another China Oilfield Services Limited (COSL) has added to its orderbook with a domestic deal for an offshore support ship.
Great Eastern adds MR India's Great Eastern Shipping (GE) is boosting its increasingly profitable products tanker fleet with an MR buy.
Six for sale Vietnam's Vinalines is hoping to sell the last six ships owned by its Vinashinlines unit by 30 June.
Bohai to order double Chinese operator Bohai Ferry is planning to splash some of its IPO cash on two new ro-ro vessels.
The Paper Chase - E-Invoicing's Impact on Ocean Freight Billing, June 5th, 2013, 12 PM EDT This 60-minute interactive discussion will look at efforts to increase usage of e-invoicing in the ocean freight market, how standardization of the industry might help, and what billers and payers should know going forward. Key discussion areas will include:
EU Parliament: Proceed with U.S. free-trade talks "An ambitious and comprehensive agreement would give a badly-needed, low-cost boost to our economies," member Vital Moreira said before the vote.
New Hapag-Lloyd service links Italy, Turkey and Egypt
Va. maritime industry to tap military labor pool "We want to make a more direct effort to capture more of these retirees who seem well suited for this type of work," said Art Moye, executive vice president of the Virginia Maritime Association.
Bank unveils financing tool for insolvent ships
SinOceanic to facilitate 10-ship order
Triple E Mærsk Mc-Kinney Møller is 'semi-launched' Maersk Line said a major milestone was reached today with the "semi-launch" of the first of the 20 Triple-E containerships that Daewoo shipyard is building for the company in Okpo, Korea.
Florida provides new support for trade, logistics Workforce Florida Inc. last week announced the availability of a $2 million Quick Response Training Challenge Grant for employers in Florida's logistics and trade industry.
Satellite oil spill detection trial underway Satellite to focus on Australian waters considered to be at high risk of oil pollution due to heavy shipping.
Prices soften in Fujairah Strong demand in Middle Eastern hub.
Prices continue falling in Rotterdam Markets soft throughout the region.
Russia fuel oil exports could dry up within three years 'The crunch will come in 2015,' says energy consultant.
Singapore fuel oil inventories down Players point to increased demand.
LNG bunker regulations 'out to consultation' by year-end MPA is developing a Singapore Standard for LNG bunkering operations.
Hong Kong may introduce MGO sulphur limits by early 2014 Environmental Protection Department drafting legislation to reduce MGO sulphur limit to 0.05% for domestic use; higher limit may be allowed for international sales.
'Good bunker deals' need transparency 'The more information flowing between owner and supplier, the better the deal,' player tells conference.
Bunker prices lower in Asian trade Singapore offices will be closed on Friday for a public holiday.
Samudera sees losses mount 'Roughly 20%-30% of our costs of services is fuel related.'
Shipbuilding crisis 'makes newbuilds affordable' New ships are going to be 'greener, cleaner and more efficient,' says President.
Germanischer Lloyd to class CSCL's mega vessels 'The agreement marks a historic milestone for GL.'
Accident report on bunker leak Damage could have been 'far more severe and longer lasting' if vessel carried fuel oil, says MAIB.
Bunker player says 'recent entrants are losing their shirts' 'Anybody involved in bunker marketing will tell you that margins are down,' says NuStar Energy CEO.
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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