TEN bounces back to $1.2m profit Company believes both product and crude markets have turned the corner
Rejuvenated Eimskip seeks Baltic boost Iceland company posts 12.4% increase in operating revenue
London Club achieves $9m surplus despite 'mixed' claims experience Financial year may prove the most expensive on record for claims on the IG pool
Recent activity in Gulf of Aden highlights growing unpredictability Pirates move away from established modus operandi
APM Terminals will 'stay cool and not overpay' for new box port assets Exclusive: 'Searching for the next flag to plant' is misguided, Fejfer warns his rivals
Two-hour attack highlights West African pirates' growing confidence Late arrival of navy shows gangs operate freely off Togo
Balance sheet blues Accountancy rule changes are no bad thing, but a headache to implement
Whitworth sets Liverpool's sights on enlarged market share Exclusive: Peel Ports chief executive says Merseyside will win back boxes lost to southern rivals
Moody's blues Ratings agency warns shipping to escape the herd and play a longer game
Investment income covers Standard Club's claims gap Free reserves rise to record level
Höegh LNG presses on with FSRU business First-quarter net loss of $7.9m follows lack of employment for gas carrier
West European upgrades Iberia box service ROTTERDAM-based West European Container Lines has upgraded its North Europe/Iberia coverage with the addition of a second service
Taipei, Beijing trade data widely differ A HUGE GAP has been reported between what Taipei and Beijing estimate their bilateral trade to total since the beginning of this year
Sainty Marine unit orders 6 bulkers SHENZHEN-listed Sainty Marine said today it has ordered six new 64,000dwt bulkers at its subsidiary Sainty Shipbuilding (Yangzhou), in a deal worth about $246M
Höegh might sell ships NORWAY'S Höegh LNG Holdings said today it is weighing whether to sell two older vessels, as its board warned that full-year operating results are likely to trail those of 2012
Waratah dockers strike WORKERS at Port Waratah Coal Services in Newcastle, Australia, held an eight-hour strike today and threatened a 24-hour stoppage on 29 May
More Changhang Phoenix ships seized SHENZHEN-listed Changhang Phoenix said 23 of its drybulkers had been seized by the Wuhan Maritime Court
China iron ore flatlines STOCKPILES of imported iron ore at 25 major Chinese ports reportedly stood at 72.49M tonnes over 14-20 May, a rise of merely 0.81% week on week
Charleston unveils 42% spike in breakbulk cargo INCREASED breakbulk business at the Port of Charleston helped South Carolina Ports Authority achieve a 42% year on year increase in non-containerised cargo handled in April
Bumi Armada profits rise MALAYSIAN offshore oilfield services provider Bumi Armada said net profits for 1Q13 rose 22% year on year to 109.7M ringgit ($36.15M)
Top 100 Exporters in 2012 TOP 100 EXPORTERS in 2012: U.S. FOREIGN TRADE VIA OCEAN CONTAINER TRANSPORT 2012 Rank JoC Top 100 Exporters Headquarters 2012 TEUs Sector 1 America Chung Nam City of Industry, Calif. 414,500 Paper & Plastics/Recyclables; Animal Feed/Grains Recovered paper exporter is primary supplier to China's largest containerboard manufacturer and sister company Nine Dragons Paper Industries, with annual capacity of nearly 14...
Top 100 Importers in 2012 TOP 100 IMPORTERS in 2012: U.S. FOREIGN TRADE VIA OCEAN CONTAINER TRANSPORT RANK 2012 JOC Top 100 Importers Headquarters TEUs in 2012 Sector 1 Wal-Mart Stores Bentonville, Ark. 720,000 Retail To open 30 new stores in China in 2013. The world's largest retailer with more than 2.2 million associates had $466.1 billion in net sales from its 10,800 retail units...
In Chris Lytle, Long Beach's Loss Is Oakland's Gain LONG BEACH, Calif. - The shocking announcement late Thursday that J. Christopher Lytle, executive director of the Port of Long Beach, will resign to become executive director at the Port of Oakland is a major loss for the nation's second largest container port and a huge victory for the Northern California...
Port of Charleston's Container Volume Rose in April The Port of Charleston in South Carolina reported container volume in April was 134,718 20-foot-equivalent units, rising 9 percent year-over-year and increasing 17 percent compared with April 2011. In the fiscal year to date, from July 2012 through April 2013, container volume was up 10 percent versus the same period last...
Slideshow: Top 10 States Exporting to China Nearly everyone knows the United States imports a lot from China (and if you don't, you're probably not a regular reader of The Journal of Commerce), but American companies are increasingly exporting more to the Asian manufacturing juggernaut, too. The U.S. exported $108.6 billion worth of goods to China last...
Americold Names Hogarth as SVP of Asia-Pacific Jeff Hogwarth will lead Americold Logistics, an Americold subsidiary.Americold has appointed Jeff Hogarth as senior vice president of Asia-Pacific. He will report to Jeffrey M. Gault, president and CEO of the company, which specializes in temperature-controlled warehousing and logistics for the food industry. Hogarth has worked for Americold and its predecessor companies...
Tucker Company Worldwide Opens Texas Sales Office Tucker Company Worldwide has opened its first Texas sales office in Houston. A "significant percentage" of the Cherry Hill, N.J.-based freight broker's volume originates and delivers in Texas, and the company wanted to have more direct contact with customers in that region, Tucker said in a written statement....
Report: Technology Innovations to Fuel Reefer Market The global market for road transportation refrigeration equipment is expected to be worth $8.8 billion by 2018, driven by technology innovations in energy efficiency refrigeration and the increasing consumption of frozen and chilled foods, according to a Global Industry Analysts report. New innovations in reefer equipment and systems that reduce refrigerant...
April TEU Volume Plunges at Port of Portland, Ore. Oregon's Port of Portland reported container traffic totaled 14,006 20-foot-equivalent units in April, dropping 30 percent year-over-year and 17 percent month-to-month. Of the April volume, export containers totaled 7,084 TEUs, a decrease of 34 percent compared to April 2012, while import containers accounted for 6,922 TEUs, down 25 percent year-over-year. From January...
SCFI: Asia-Europe Spot Rates Continue Their Slide The Shanghai Containerized Freight Index extended its decline in European lanes, despite recent general rate increases set for May 15 and future increases scheduled for early June and July. Proposed May 15 GRIs of between $500 and $600 per 20-foot container by Hapag-Lloyd, Cosco and UASC did not have any effect...
Direct Chassis Contribution Expands S. Atlantic Pool Direct Chassis Link, Maersk Line's primary chassis provider, will contribute all of its chassis in the South Atlantic region to the Consolidated Chassis Management pool known as the South Atlantic Consolidated Chassis Pool, effective June 1. The addition of more than 7,000 former Maersk-owned chassis will increase the pool size to...
SCFI: Asia-to-US Spot Rates Strengthen Shanghai Containerized Freight Index, U.S. West Coast, week of May 24, 2013 Full-size image Shanghai Containerized Freight Index spot rates for U.S.-bound trade lanes experienced moderate increases in the week of May 24, following general rate increases of $400 per 40-foot container moving from Asia to the U.S. West Coast and $600 per FEU...
NYC Court Cracks Down on Cigarette Shipments A Manhattan federal court has granted a preliminary injunction barring a shipping company from transporting cigarettes that do not bear New York State and New York City tax stamps, according to Michael A. Cardozo, NYC corporation counsel; David M. Frankel, NYC finance commissioner; and Thomas A. Farley, NYC health commissioner. In...
Turkish Cargo Expands Freighter, Trucking Services Turkish Cargo will launch freighter services to Entebbe, Uganda, and Kigali, Rwanda, effective June 3, and one weekly flight to Karachi, Pakistan, and Singapore, starting June 5. It will also boost its weekly operation to Tashkent, Uzbekistan, to two weekly flights, as of June 8. In the past few months, the division...
European Transport Union Worried by EU Port Reform Plan European dock and transport union leaders voiced concerns that a plan to reform European ports will threaten jobs and working conditions in pilotage, towage and mooring. The European Commission, the EU's executive, unveiled a reform package this week aimed at boosting efficiency on the waterfront so that cargo is more evenly...
Eimskip Profits From Strong Reefer Volume in Intra-Asia Eimskip, the Icelandic shipping and logistics group, posted higher first quarter earnings and revenue as strong reefer traffic in intra-Asian trades more than offset flat container volumes in the North Atlantic. Net earnings more than tripled to 2.53 million euros ($3.3 million) from 582,000 euros ($757,000) in the first three months...
Mr Restis goes to Washington A legal battle between Victor Restis and an advocacy group that accused the Greek mogul of illicit dealings with Iran is brewing in the US.
TransEuropa owes £3.3m Belgian ferry operator TransEuropa owes £3.3m ($4.99m) to the UK council that was helping prop it up before it went into administration.
Diana does it again? Tonnage hungry Diana Shipping is tipped to have added a second-hand panamax to close a busy week for the company.
Sinotrans raises alarm Sinotrans could slip into the red in the first half of 2013 due to the terrible dry-cargo market.
TW man in air drama Nervous flyers dosing up ahead of their flights to Nor-Shipping may want to look away now.
TEN turns the corner Greek tanker owner Tsakos Energy Navigation (TEN) has made it back into profit as products tanker rates improved in the first quarter.
Greek takes panamax Pacific Carriers of Singapore has reportedly sold one of its panamax bulkers.
Ship seizures ordered A Chinese court has ordered 23 of struggling Chinese owner CSC Phoenix's ships to be seized over an unpaid loan.
SFI confirms box splash John Fredriksen's Ship Finance International has penned a quartet of boxships at a Korean yard, confirming a story broken in this week's edition of TradeWinds newspaper.
FRNT back in focus John Fredriksen's Frontline 2012 has not lost its appetite for newbuildings despite dropping plans for six capes in China, Arctic Securities says.
Jutha loss grows Thai multipurpose vessel owner Jutha Maritime has posted a bigger first quarter loss as rates fell.
GasLog seeks $500m GasLog is lining up a huge cash grab in a move that could precursor a fresh order for newbuildings.
Fredriksen goes French TradeWinds digests the digits making the headlines this week.
KDM grows again The expanding fleet of Ukraine's KDM Shipping has propelled it to a better first quarter profit.
Sietas still needs orders Two German investors are read to buy the bankrupt German shipyard JJ Sietas.
Eimskip profit soars Icelandic boxship owner Eimskip has reported a huge rise in its bottom line thanks to Intra Asian growth in its reefer forwarding services.
Mipo mops up more Hyundai Mipo has secured $300m worth of new orders from European and Asian clients.
KDB edges up stake Korea Development Bank (KDB), which has long been trying to sell off its stake in Daewoo Shipbuilding & Marine Engineering (DSME), has actually increased its holding.
Jason walks a tightrope Jason Shipping is struggling under the weight of a $50m debt pile and faces an uncertain future beyond the end of the year.
Flex safe for now Oslo-listed Flex LNG has enough cash to see it into 2014 as it chases down-payments from Samsung in Korea.
Daewoo bags box quartet Korea's Daewoo Shipbuilding & Marine Engineering (DSME) has clinched a big new boxship order.
DFDS upgrades Two DFDS ro-paxes are to undergo DKK 120m ($20.83m) of upgrade work for the Copenhagen to Oslo run.
Hoegh LNG on script Hoegh LNG has seen its first quarter bottom line follow analysts' scripts and fall further below zero.
Brighter later? We take a look at what was said in the market over the past week.
STX bulker released An STX-controlled kamsarmax was released today after being arrested in Singapore over an uncontested charter balance.
Excel warned Bulker owner Excel Maritime Carriers has missed the deadline for its annual report due to ongoing restructuring talks.
Canada upset over U.S. labeling rule U.S. country of origin labeling has "led to the disintegration of the North American supply chain, created unpredictability in the market and imposed additional costs for producers on both sides of the border," Canadian officials said.
Cargolux reduces concessions in union talks According to the Luxembourg-based all-cargo airline, union negotiators are asking for a full or partial repayment of the money saved with any concessions in the instance that Cargolux turns a profit during the next year.
FAA aids Dutch Caribbean
Oakland lures away Long Beach's port director Lytle
NTSB issues report on Delta Mariner accident
Bridge collapses on major U.S.-Canada link Three people were pulled from the river with minor injuries. Chief John Batiste of the Washington State Patrol said early indications were that a truck struck the overhead of the I-5 bridge, north of Seattle, causing the collapse.
DCLI adds chassis to CCM's South Atlantic pool
Carloads down, intermodal up in North America
Cass: Linehaul rates up 2% in April
e-Invoicing standards group making progress The group formalized best practices for electronic invoice submission and receipt, while also moving forward to develop standards for the credit note process and complimentary EDI message guidelines.
Executive moves
Commentary: Complex or straightforward, both are good
Weekly global market update A weekly price round up of bunkering hubs from around the globe.
Shale crude surge could lead to drop in US fuel oil production As shale crude production increases, fuel oil production will decrease due to the lighter nature of shale crudes.
Bunker prices in the Americas end week on low note Demand was said to be poor in Houston on Friday.
Port of LA/Long Beach to deliver shore power by end of 2013 The CARB has mandated that by January 1, half of all visits by container cargo, refrigerated cargo and cruise vessels must be powered by electricity.
GAC pushes further into the Arctic with Polar Logistics Group 'We are excited to begin exploring the world's remotest locations together'
ICS highlights challenges faced by shipping sector 'If governments and regulators are serious about the concept of sustainable shipping, then we must give serious consideration to these cost-benefit questions.'
Stena highlights 'fourth ECA compliance option' 'If you close down business you are absolutely going to comply,' says major Swedish shipping company.
World's second hybrid ferry launched New ferry will use some of the most innovative new 'green' technology.
Fujairah prices largely stable Cape Town market soft.
Tight avails for HS products in Rotterdam Prices climbing in North European hub.
Fos terminal to include LNG bunkering Baltic terminals provide LNG.'No reason the Mediterranean should not follow.'
IMO: Global sulphur average down in 2012 Report pegs share of fuels exceeding global sulphur limit at 1.95%, while 10.09% of HFO samples met current ECA limit.
Tests suggest 'wingsails' could cut bunker costs by 20% 'Using wind to cut fuel consumption is now verging on necessity.'
'High level of confidence' in regional LNG bunker market North America's Great Lakes offer 'a captive market' for LNG bunkering.
Asian bunker prices show little movement Offices in Singapore were closed for a public holiday.
Meech: Demand for bunker fuel is not growing Demand will be muted at best, especially in Europe.
MISC swings back to black But is expecting a 'challenging year' with volatile fuel prices and excess shipping capacity.
Cochin streamlines bunkering procedures Port hopes changes will attract more ships.
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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