Singamas Container Holdings net profit shrinks 28% US domestic demand fails to buoy overall market
PIL does not rule out further fleet expansion Teo eyes opportunities for charters and newbuildings
Taylor Wessing launches shipping practice Law firm seeks German finance work
Star Bulk stays in profit Transformed owner eyes bigger contribution from third-party management
Maersk's box builder suffers from postponements MCI's second-quarter profit plunges 93% on-year due to postponed investments
Supply delays hit Awilco LNG Challenging summer sees Oslo-based firm post a second-quarter loss
North Europe aframax earnings spike ends Tonnage is available for early September voyages
Cosco Pacific reports dip in net profit Update: Cash gain from CIMC disposal will be channelled to new investments
Bechtel designs offshore terminal to boost African ports' handling Hub is claimed to have lower construction and operational costs than conventional ports
The $72m sulphur headache DFDS boss Smedegaard talks scrubber spending risks and conflicts to come in 2015
Teekay LNG plans $115m Oslo bond issue Loan will mature in September 2o18
First Ship Lease recruits FR8 boss as new chief executive Hatton's appointment ends two-month management vacuum
Star bulks up managed fleet NASDAQ-listed Star Bulk today reported a profitable quarter and a growing portfolio of managed bulkers and product tankers
TMT lender ordered to release ship TMT HAS another win in its Chapter 11 battle in Houston, as an arrested ship was ordered to be freed by today
More box cuts advised BOX LINERS must cut more costs to satisfy shareholders after first-half losses, a UK shipping consultancy warned today
South Asia breaking prices follow rupee down PRICES of ships sold for demolition into South Asia plunged last week as the rupee plummeted to a historic low of 65.54 to the dollar
Nam Cheong issues S$90M in fixed notes MALAYSIA'S largest OSV builder Nam Cheong has issued S$90M ($70M) in fixed-rate notes to refinance borrowings
MSC Cruises poaches ex-rival as CEO MSC CRUISES has appointed the recently resigned president of rival Costa Cruises, Gianni Onorato, as its new CEO
JJOGMEC receives first LPG for petroleum reserve JAPAN'S government-owned Japan Oil, Gas & Metals National Corp (JOGMEC) has received its first LPG cargo for its strategic petroleum reserve in Namikata terminal in western Japan
COSCOL cuts deficit COSCOL said it lost 78M yuan ($12.66M) in 1H13, cutting its deficit by 230.13% year on year
Capesize S&P gains CAPESIZES have featured in the resale market for a second consecutive week
VLGC rates firm ahead of September CP release RATES to haul LPG on very large gas carriers rose every day of last week before dropping on 23 August
Ksure offering ship bond insurance KOREA Trade Insurance Corp, one of South Korea's two export credit agencies, is offering ship bond insurance to aid struggling domestic yards
TSA Lines Plan Westbound Rate Hike Shipping lines that carry U.S. exports to Asia intend to increase their freight rates by at least $100 per 40-foot container effective Oct. 1. The Transpacific Stabilization Agreement Westbound, a discussion group of 15 carriers, announced Tuesday that the guideline for the general rate increase applies to all commodities from all...
US Diesel Prices Rise U.S. diesel prices inched up slightly in the week of August 26, following a slight uptick in the prior week, according to the U.S. Energy Information Administration. The national average price is $3.913, rising 0.013 cents from a week ago. Prices are down nearly 1.8 cents, or 4 percent, from a...
Green Fleet Strike Reflects Changing Union Strategies Some of the employee drivers of Green Fleet Systems in Southern California launched a 24-hour strike against the company on Monday, charging that management is using harassment techniques to dissuade them from joining a union. The Teamsters union is expected to join a rally in Carson, Calif., Tuesday afternoon, according to...
TQL National Expansion Continues with Office in Houston, Texas Houston, Texas - Total Quality Logistics (TQL) has opened a new national sales office in Houston, Texas. This is the Cincinnati-based company's second office in the state of Texas and 19th office nationwide. TQL is one of the fastest growing providers of transportation logistics services in North America. The TQL Houston office opened...
Menlo and MAQUET Strengthen Their Global Business Relationship AMSTERDAM - Aug. 27, 2013 - Menlo, the global logistics and supply chain management unit of Con-way Inc. (NYSE: CNW), is pleased to announce that it has been appointed as the global forwarder manager (GFM) by MAQUET in order to create an economic and simplified global supply chain. Menlo will...
Drewry: Korean Shipping Lines Have Backs against the Wall Drewry Maritime Research is taking a negative view of the outlook for publically traded Korean container shipping lines. It said in a research note that the losses incurred by Hyundai Merchant Marine and Hanjin Shipping have led to severe deterioration in their financial health. It finds their share prices expensive and...
FMCSA Prepares for 'Unified' Registration System The Federal Motor Carrier Safety Administration published a long-awaited final rule last week to establish a Unified Registration System for trucking companies, freight brokers and forwarders and others required to register with the agency. The final rule consolidates and automates a paper-based registration system and expands the number and type...
C. H. Robinson Boosts Share-Buyback Program C.H. Robinson Worldwide increased the number of shares it plans to repurchase by 15,000,000 shares to a total of 23,700,000. It has yet to buy back the approximately 8,700,000 shares left from the previous authorization. The Minnesota-based logistics provider entered into the accelerated share repurchase program with two banks, JPMorgan Chase...
Chapman Freeborn, Air Libya Launch Cargo Service Antonov An-26.Chapman Freeborn Airchartering and Air Libya have formed an exclusive partnership for the operation of a freighter aircraft in Libya. High demand is anticipated for the Antonov An-26, which will be based at Tripoli's Mitiga International Airport (MJI) on a long-term lease agreement with immediate effect. The airplane will be...
Drewry: Canceled Sailings Likely This Year Sluggish volume on all-water routes between Asia and the East Coast of North America "does not bode well for this year's peak season" and may force carriers to cancel sailings later this year, Drewry Maritime Research warned in its current Container Insight Weekly. Asia-to-North America rates "will continue to remain under...
Air Cargo Picture Depressed as Peak Approaches Garuda Indonesia plane in February 2013. Photo from Flickr by Prayitno. License: CC BY 2.0.International air cargo rates remained depressed in July as the bearish demand apparent for much of the year continued to dominate markets. Drewry's East-West Air Freight Price Index, a weighted average of all-in air freight 'buy rates'...
Building Port Resilience In his Aug. 5 Journal of Commerce article, "Decline of the Single-User Terminal," Bill Mongelluzzo describes how vessel operators are eliminating their proprietary terminal operations in favor of using public terminals. They may or may not know it, but by embracing the public option these operators are increasing port resilience. Here are...
Cosco Pacific Triples Profit on Sale of Stake in Container Manufacturer Cosco Pacific more than tripled its first half profit from a year ago, boosted by a one-off gain from selling its stake in container manufacturer China International Marine Containers. The port operating and container leasing arm of China Ocean Shipping Group posted net profit of $560.3 million in the six months...
TTS Agent, BCB Transport Expanding IRVING, TX (August 26, 2013) - TTS agent, BCB Transport, is expanding their operation with a new storage and loading facility. Currently under construction, this new facility will allow BCB to consolidate its two locations and increase storage space by 150 percent. In addition, the new storage facility will accommodate...
Liebherr Container Cranes secures further orders in the Oceania / Philippines region Liebherr Container Cranes has secured separate orders from DPWorld Manila for both a ship to shore container crane and for 2 rubber tyre gantry cranes. In addition, a recent delivery of a ship to shore container crane at DPWorld Melbourne further expands Liebherr's presence in the Oceania / Philippines region. The...
TNT Eyeing Sale of Fashion Logistics Unit TNT Express is planning to sell its European fashion supply chain unit as part of a restructuring triggered by the collapse of a $6.9 billion takeover by UPS. "The possible sale of the Dutch operations of TNT Fashion will be designed to ensure service continuity," the Dutch express carrier said. The company...
RINA Services Appoints new Business Development Manager in North America Genova, 26 August, 2013 - RINA Services S.p.A., the international Classification Society, announces that Ches K. King joined RINA USA Inc. as Business Development Manager. Based in the Seattle area, Ches will support the RINA Services marine and industrial clients in the North and Central American markets, as well as...
Polish Rail Operator PKP Cargo Set for Warsaw IPO Rendering of PKP Cargo train.The privatization of PKP Cargo moved closer after the Polish state rail freight operator reached agreement with labor unions over its initial public offering. Europe's second largest rail freight company said its 24,000 employees will receive a onetime bonus in shares and a four-year job guarantee in...
TMT wins another round Today Makes Tomorrow of Taiwan appears to have secured the release of a handysize bulker that has been sitting idle off Gibraltar for more than two months.
A Whale recalls attack An OBO controlled by bankrupt Taiwanese operator Today Makes Tomorrow (TMT) appears to have sustained only minor damage during a skirmish with Libyan naval forces late last week.
Iberia ups VLCCF An equity analyst at Iberia Capital is urging investors to accumulate shares of US-listed bulker owner Knightsbridge Tankers based on a bet that a rebound is on the horizon.
OSG in discharge hit Overseas Shipholding Group (OSG) is the target of a Marshall Islands flag-state investigation after it reported potential pollution violations to authorities.
Star Aurora tied up Star Bulk Carriers has locked up a capesize vessel for roughly a year as it focuses on short-term employment for its fleet of bulkers.
SCI in huge rate hike Shipping Corporation of India (SCI) has announced huge hikes in container freight rates to help stem the flow of losses.
Star back in black Star Bulk Carriers has made a return to profit in the second quarter of the year, defying the downturn by reining in costs.
Onorato in at MSC Cruises Gianni Onorato has been unveiled as the new chief executive officer of MSC Cruises little more than two months since exiting Costa Crociere after nearly 30 years.
Naoetsu welcomes first cargo Commissioning of Japan's Naoetsu LNG regasification terminal is underway after a vessel arrived with a maiden cargo from Indonesia.
Sale boosts Cosco Pac Cosco Pacific has reported a big rise in earnings after offloading its container wing to its parent.
Skangass doubles up Norwegian small scale LNG operator Skangass has turned to Dutch owner Anthony Veder to charter a second vessel.
Awilco LNG weaker Awilco LNG has seen a further deterioration in pre-tax results posting a loss of $68m versus the $38m seen a year earlier.
HMM unveils share issue Hyundai Merchant Marine (HMM) has announced plans for a share issue that it hopes will help fill the hole in its finances.
FSL brings in Hatton Allan Hatton has been recruited as the new chief executive of struggling First Ship Lease Trust (FSL Trust).
A Whale under fire A TMT OBO sailing off the coast of North Africa is alleged to have come under fire from Libyan naval forces.
LA retains 'AA' rating The Port of Los Angeles has seen its 'AA' bond rating affirmed by ratings agency Standard & Poor's.
FRO faces grim forecast Equity analysts are growing increasingly concerned about the future of Frontline and the ongoing deterioration of its cash reserves.
'Big Four' terminal companies handle quarter of boxes
Washington Notebook: Port security grants and export enforcement
Global fuel use hit record in 2012 The Energy Information Administration reported Monday that in 2012 the world's appetite for fuel hit a record of 88.9 million barrels per day based on use of jet fuel, diesel, gasoline, heating oil and other petroleum products.
Vancouver Port rail project moves forward
TNT looks to sell fashion business The express carrier said the sale will not impact its business, and customers and suppliers will maintain their current agreements. Companies interested in the purchase must place their initial bids this month, according to reports.
CMA CGM hiking rates from Europe to Latin America
TQL opens Houston sales office
Dray drivers strike against L.A. trucking firm
Yusen expands in Thailand
ALAN stays the course Since the death of its founder, John "Jock" Menzies, on Aug. 17, the board and staff of the American Logistics Aid Network have vowed to continue efforts to guide and coordinate logistics services for disaster relief.
IAG targets Latin American pharmaceuticals The air cargo carrier has opened Constant Climate stations in Colombia, Panama, Costa Rica, Guatemala and Venezuela. IAG now staffs 12 stations across Latin America and is adding similar support capacity in Europe.
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