Tankers brace for storms CRUDE inventories should provide a buffer for US tanker markets if predictions of an extremely active hurricane season prove correct, tanker consultants warned today
China's energy demand seen peaking by 2035 CHINA'S energy demand will peak between 2030 and 2035 on the back of expanding industrialisation and urbanisation, the government has forecast
Golden Ocean eyes growth after ships deal GOLDEN Ocean, the drybulk shipping group in John Fredriksen's business empire, said today it is weighing more expansion after acquiring two ships at a yard in India
Nigerian police free four kidnapping victims NIGERIAN police have reportedly rescued four foreign oil workers kidnapped by pirates from an offshore facility more than a month ago
SMM clinches $596M rig order SINGAPORE's Sembcorp Marine said today it has won a $596M order from Noble for a jack-up rig with ultra-high specifications
RMT issues 424M shares RICKMERS Maritime Trust said today it is issuing 424M more new units, after an oversubscription of a similar offering earlier this month
DSME wins $780M deal from UAE DAEWOO Shipbuilding & Marine Engineering said yesterday it has won a 896.8Bn won ($778.4M) deal from the United Arab Emirates to build modules for offshore plants
Essar Shipping's profits drop off cliff ESSAR Shipping Ltd today reported a drop of nearly 100% profits for 1Q13 to just 500,000 rupees ($9,269)
Russian box combination plan wins applause A MOVE by one of Russia's box movers, Global Ports Investment, to buy out National Container has picked up support from a key maritime analyst
Delays might spark German intermodal gridlock GERMAN North Sea ports could face gridlock beyond 2020 on rail ties to the hinterland because of infrastructure delays
Star touts 'eco' plan NASDAQ-listed Star Bulk today reported lower adjusted profits and signalled that it too is planning to invest in 'eco' bulkers
China nears control of Gwadar's strategic port THREE Chinese government-owned companies are reportedly poised to take over as operators of Pakistan's highly strategic Gwadar port
Hanjin Shipping defends itself as shares dive HANJIN Shipping is trying to defend itself as the company's share price dived following critical South Korean news reports
Five northern European companies for Gothia Tankers A NEW product tanker marketing company has been formed by five northern European shipping companies
Gard returns $31M to members in deferred call NORWAY'S P&I club Gard said today its board has decided to return $3M to its members by reducing the deferred advanced call for the 2012 policy year from 25% to 15%
DHL Supply Chain to Invest in Southeast Asia DHL Supply Chain has plans to invest €140 million (about US$180 million) in its business in Southeast Asia by 2015. The bulk of the investments will go towards investing in new facilities, advanced information technology solutions, expansion in transportation and bolstering staff strength and training in order to enhance DHL Supply...
ITF Urges Grain Terminals' Owners to End ILWU Lockouts The International Transport Workers' Federation has repeated its concerns, as well as its member unions' concerns, regarding the lockout of International Longshore and Warehouse Union workers at the United Grain terminal in Washington's Port of Vancouver in Washington and the Columbia Grain terminal in Oregon's Port of Portland. International Longshore and...
TSA Lines Plan July 1 Rate Increases Hoping to prop up freight rates as the start of the peak-shipping season gets closer, the discussion agreement representing ocean carriers in the eastbound Pacific announced guidelines for increases of $400 per 40-foot container to the West Coast and $600 to all other destinations, effective July 1. Brian Conrad, executive administrator...
US Diesel Prices Slip U.S. diesel prices through May 27, 2013 Full-size image U.S. diesel prices experienced a slight drop in the week ending May 27, following two weeks of rising prices, according to the U.S. Energy Information Administration. During those two weeks, prices had increased a total of 1 percent or 4.5 cents. The average price...
China's 'Green Fence' Slams U.S. Exporters U.S. exports of recycled plastics, metal and paper to China are taking a beating because China's new administration is cracking down on the importation of adulterated scrap products. The so-called Green Fence policy launched by President Xi Jinping in February is taking a toll on three of the highest-volume commodities shipping...
Total Quality Logistics Expands Charlotte, N.C. Sales Office CHARLOTTE, N.C. - Total Quality Logistics (TQL) is relocating and expanding into 15,000 sq. ft. of new office space in Charlotte, N.C. The company's new office is located in the Forest Park Business Park where the company currently employs 40, but plans to add up to 100 additional sales professionals...
PITT OHIO Receives President's Trophy From Pennsylvania Motor Truck Association PITTSBURGH - PITT OHIO announced today that they have been awarded the Pennsylvania Motor Truck Association (PMTA) President's Trophy. The award is recognized as being the highest safety award presented by all carriers that are members of Pennsylvania Motor Truck Association. The President's Trophy is presented by PMTA and its Safety...
Dubai International's Freight Volume Climbs Dubai International Airport moved 199,985 metric tons of freight in April, up 7.3 percent from 186,385 metric tons in April 2012. Year-to-date, cargo through the United Arab Emirates airport totaled 784,832 metric tons, up 11.5 percent from the first four months of the previous year. "It is very clear that our growth...
Cargo Volume Dips at Changi Airport Singapore's Changi Airport handled 145,600 metric tons of cargo in April, down 1.8 percent year-over-year. In the first four months of the year, cargo volume declined 2.1 percent year-over-year to 579,600 metric tons. The near-term outlook for aviation remains cloudy, with external threats ranging from high fuel prices and weak prospects for...
Port of Auckland Welcomes Maersk's Southern Star Service The Ports of Auckland, New Zealand, cheered Maersk Line's announcement that the Southern Star service will return to Auckland with larger ships. The service moved from Auckland to Tauranga, New Zealand, during the dispute with the Maritime Union in December 2011. The new rotation is Tanjung Pelepas, Malaysia; Singapore; Brisbane, Australia; Auckland and Lyttelton...
Qatar Withdraws Offer to Serve as ICAO Permanent Seat The International Civil Aviation Organization confirmed it received a letter from Qatar advising the U.N. agency that it has decided to withdraw its offer to become the ICAO's new permanent seat. "Montreal has been our home for many decades," ICAO Secretary General Raymond Benjamin said in a written statement. "While the offer...
CSX Freight Train Derails Near Baltimore A CSX freight train derailed Monday afternoon in the White Marsh, Md., area in Baltimore County, sparking a fire and causing buildings to collapse. The Baltimore County Fire Department said on its official Twitter feed that several industrial buildings had collapsed and there was a fire at the scene. The cause...
Steel Imports Rose 4.2 Percent in April Steel imports in April were 2.679 million tons, increasing 4.2 percent from 2.570 million tons in March, but down 14.8 percent from April 2012, according to preliminary government reporting, the American Institute for International Steel said. "Imports increased in April primarily due to an increase in arrivals of semi-finished slab imports...
Capacity Hikes Erode Carriers' Rate Leverage, Drewry Says With many of this year's annual trans-Pacific freight rate contracts yet to be signed, U.S. import demand is flat to down year-over-year, and spot rates appear set to resume their downward trek after last week's increase. "With many ocean freight agreements that start on May 1 yet to be renegotiated, ocean...
Greenbriar Equity Acquires Transplace Transplace, a third-party logistics provider with strong roots in U.S. trucking and cross-border transportation, has been acquired by Greenbriar Equity Group, a New York-based investment firm. Terms of the transaction were not disclosed. "Greenbriar has a long-standing focus on the logistics sector, understands our industry and will support growing our business,"...
UPS Names Willis as Director of UK, Ireland, Nordics UPS has appointed George Willis as the new managing director for UPS U.K., Ireland and the Nordics. Willis, a 29-year UPS veteran, succeeds Cindy Miller, who was recently appointed as president of UPS Europe, the Middle East and Africa. In his new role, Willis will be responsible for operations, business development...
CTS: North American Southbound Exports Rise for First Time in Seven Months Containerized exports from North America to Central and South America inched up to 177,200 20-foot-equivalent units in March 2013, according to data from Container Trades Statistics Ltd. This followed six months of year-over-year declines in this lane. North America to Far East Asia North America exported 694,100 TEUs to Far East Asia...
China Maintains Biggest Slice of US Apparel Market For all the talk about near-sourcing to Central America or the shift in production to Vietnam, China remains the dominant supplier of U.S. apparel imports. In fact, China's share of the U.S. apparel import market is growing far faster than overall U.S. apparel imports. Containerized U.S. apparel imports increased a minimal...
Unsettled Terrain in E-Commerce Logistics In Home Depot's upbeat earnings call last week, CEO Frank Blake said the 2,200-store home improvement chain had completed the rollout of what it calls "Buy Online, Ship to Store," a variation on e-commerce that the company is clearly excited about. It disclosed that 22 percent of online sales were...
Hapag-Lloyd to Revise Europe-Asia Service in July Hapag-Lloyd will revise its Europe-to-Asia EUM service, calling eastern Port Said instead of Damietta in Egypt. The change will take effect on the westbound route, starting with the Colombo Express, voyage 052W27, departing from Busan, South Korea, on July 1. The transit times remain unchanged, with the following port rotation: Busan; Shanghai;...
OSG aframax arrested Bankrupt US tanker operator Overseas Shipholding Group (OSG) has emerged as the target of a multi-million dollar lawsuit that stems from an allision on the Mississippi River.
LNG fuel NGO unveiled A new non-governmental organisation (NGO) focused on the safety of LNG fuelling is being set up by the Society of International Gas Tanker & Terminal Operators (Sigtto).
Trafigura comes clean Trafigura has confirmed reports it has placed an order for up to eight medium-range (MR) product tankers at China State Shipbuilding Corp affiliate Guangzhou Shipbuilding International.
Cecon charters Emas vessel Norway's Cecon has agreed a charter contract with Lionel Lee's EMAS AMC for a pipelaying vessel.
Three reefers for Dole US fruit group Dole Food Company is spending $165m on three new reefers.
Western wins one Bangladesh's Western Marine Shipyard has won a new order to build a ferry for Tanzania.
Diana buys yet again Diana Shipping has confirmed yet another raid on the second hand sale and purchase market and has tied up Chinese financing for a pair of panamax newbuildings.
Baltic builds war chest Baltic Trading has raised a fraction over $23m from its fundraising visit to Wall Street.
SCI trims loss Shipping Corporation of India (SCI) has snipped a little off its annual loss, but saw results from tankers and bulkers worsen dramatically.
TEN rating dropped Credit Suisse has cut its rating on Tsakos Energy Navigation in the wake of a strong earnings report from the Greek owner.
Seadrill profit flat John Fredriksen rig and drillship owner Seadrill has posted flat quarterly earnings as an uptick in revenue from a bigger fleet was offset by higher costs.
Another one gone at GE Indian owner Great Eastern Shipping (GE) has continued its clear-out of elderly tonnage by agreeing a deal to sell a 1981-built products tanker.
Greek tanker hit Nigerian gunmen have boarded a Greek owned tanker and snatched some of the crew, it emerged today.
Star shines in first Star Bulk has posted a surprise profit in the first quarter as its period chartering strategy paid off.
Coastal starts stronger Malaysian shipyard and shipping group Coastal Contracts has increased first quarter profit despite seeing revenue fall.
Korea spike for LNG? LNG shipowner's could be about to receive a boost with the news that South Korea has shut down a pair of nuclear power plants for an indefinite period.
Taxing time for Essar India's Essar Shipping has posted a drop in annual earnings as its tax bill rose.
Erria down in Q1 Shipowner turned manager Erria remains hopeful for a profitable year despite seeing its first quarter earnings retract.
Dolphin set fair Dolphin Group of Norway posted a healthy profit in the first quarter of the year overturning last year's deficit.
Walvis tug goes down Twelve crew are missing after a tug capsized and sank while assisting a tanker off Nigeria.
Gard cuts P&I cost The cost of protection and indemnity cover from Gard is again to be discounted, with the wealthy Norwegian insurance mutual deciding to not collect $31m due for last year.
Kassian charged in US Greek operator Kassian Maritime has been indicted in the US in an oil-waste disposal case.
U-Ming sells again U-Ming Marine has sold off its third bulker in the first five months of this year, brokers say.
Double for Chuangdong Chongqing Chuandong Shipbuilding Industry has won two more deals for small tanker newbuildings.
Epic inks Japanese double Epic Pantheon International Gas Shipping has moved for a pair of small LPG carriers at a Japanese shipyard.
Resale deal looks Golden John Fredriksen has pulled off another coup in the sale and purchase market with Golden Ocean's double resale deal yesterday.
Young Bros dips Hawaii container line Young Brothers has posted a drop in first-quarter intra-state volumes.
Minoan "on right track" Fuel-saving measures have cut Greek ferry group Minoan Lines' loss in the first three months.
Zhejiang deal confirmed Golden Ocean has confirmed a charter deal to bring in three modern Chinese-owned kamasarmax bulkers.
Jinhui profits crash Jinhui Shipping & Transportation has made a poor start to 2013 with a near 70% year-in-year drop in first quarter profits.
Steel growth flat Global steel production saw little or no year-on-year growth last month, according to the World Steel Association (WSA).
Two targeted off Aden Two ships have been involved in suspected piracy attacks in the Gulf of Aden in which gun-fire was exchanged intelligence reports claim.
SMM bags Noble job SembCorp Marine has won a newbuilding contract from Noble Corp for a high-spec jack-up drilling rig.
Swiber eyes newbuild Swiber Holdings is poised to invest up to $500m in an order for a new deepwater offshore construction vessel.
ICAO, Air Transport Action Group fight carbon emissions
Private equity firm invests in Transplace The third party logistics company and truck brokerage Transplace said Tuesday it has tapped New York-based private investment firm Greenbriar Equity Group LLC as its new equity partner. The 3PL serves more than 700 customers.
DHL to invest $180 million in Asia by 2015 The seven new facilities will be located in parts of Singapore, Malaysia, Thailand and Vietnam and will all be open by the end of the year. The company has already completed a 17,000-square-foot facility in Cimanggis, Indonesia.
Washington Notebook: 787 meets new battery standards, returns to skies
U.S. steel imports up 4.2% in April
Singapore Air parks second freighter SIA Cargo's president, Tan Kai Ping, blamed the decision on the current weakness in the air cargo market resulting from over-capacity and the high price of fuel. He also left the door open for future freighter adjustments.
New pharmaceutical facility in Luxembourg
Progress made toward transpacific trade agreement
Food aid reform may be revised
Horizon to offer Houston-to-Jacksonville service
Caribbean shipowners announce rate increase
APL suspends bookings from Sokhna, Egypt "The drop in productivity has reached some 70 percent and is causing a serious port congestion in Sokhna with vessels not able to load and discharge containers according to their planned schedule," the liner carrier said.
FutureShip unveils ECO Research Centre in Singapore Centre will embark on 'Analytical Ship Performance Evaluation and Management' as its first project.
Pirate attacks 'unreported' for fear of driving up insurance Private security officials say tanker was hijacked on West Africa.
IFO firms but MGO slips in Fujairah Cape Town, Durban: IFO prices climbing.
Prices make double digit gains in Northwest Europe Low sulphur product at Hamburg rose by over $10 a tonne.
Yard wins bunker tanker order Deal follows two-ship order made in February.
Competitively priced LSFO possible, says analyst But would require significant investment from refiners.
High viscosity product displaces demand for 380 cSt material Sales of 500 cSt bunker fuel in South Korean ports totalled 30,000 mt in May.
Bunker prices strengthen across Asia Players in Busan said higher prices led to low demand.
Fuel cost-cutting measures slash opertor's losses Minoan Lines says it is 'on the right track'.
Cavotec: AMP could help ships meet emission requirements Ships can 'dramatically' cut emissions and reduce bunker consumption by adopting AMP technologies, says company.
Titan placed in 'first stage' of HKSE delisting procedure Titan will need to submit a viable resumption proposal before being able to resume trading.
'Fuel efficient' system ordered for deepwater pipelay vessel Systems will provide 'reliable and fuel efficient propulsion', claims ABB.
Hong Kong to tighten vessel smoke control at harbour Plans to introduce Ringelmann smoke chart to spot vessels emitting unacceptable levels of smoke.
US ports seek info on emissions reduction technologies Ports want technologies that meet or exceed IMO standards on NOx.
Korean bank to support 'eco' ship financing Korea Eximbank will use class expertise to 'increase support' for environment-friendly ships, says firm.
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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