|AUGUST 29, 2013|
- China delays Purchasing Managers Index data, can't vouch for accuracy
- CIMC sale tripled Cosco Pacific net profit, otherwise it fell 3.6pc
- TSA announces US$100/FEU westbound backhaul rate hike for October
- Evergreen takes in first of ten 8,508 TEUers to build 45-ship fleet
- Shipping Corp of India ups India-Europe rate US$300/TEU September 1
- Tough talks ahead before Trans-Pacific Partnership settles digital divide
- CSAV share sale falls short, raises US$170 million less than expected
- Chongqing's seven-month international cargo movement volume up 36pc
- Drewry: Indian ports need to reform tariffs and tendering to prosper
- Cross Strait ferry to start Pingtan-Taipei service in September
- Kandla invites tenders for US$930 million, 4.9 million TEU terminal
- Hamburg Sud's first US naming ceremony for 3,800-TEU Cap Corrientes
- US court tells Port of LA to stop banning owner-operator truckers
- Republican congressmen demand cost benefit study on hours of work limits
- WWPC member handles ships with 40 billion tons for oil and gas sector
- Bulgarian simulation centre wins European Maritime Administration cert
- Air China's first half profit up 9.9pc, helped greatly by forex gain
- Changi Airport July air freight volume increases 1pc to 160,002 tonnes
- International air cargo demand among Asia Pacific airlines falls 2.6pc
- Air Canada sets up communications and control centre outside Toronto
- Curbs on gold imports lead to rise in India airport gold smuggling
|AUGUST 28, 2013|
- Containerised exports from Subcontinent showing positive trend overall
- Sailesh Bhatia elected President of AMTOI
- Egypt, Syria unrest hits spices, tea & rice exports
- Exporters told to move up value chain to gain
- India asks European Customs authorities to allow exporters to take back rejected consignments
- Urea imports shoot up to 11.09 lakh tonnes in Q1
- USFDA to strengthen food import norms
- Vannamei shrimp exports surge on high global demand
- Box terminal operators facing multiple challenges, says Drewry
- Railways likely to hike freight charges in October
- RITES preparing techno-economic feasibility report for proposed Major Port in Andhra Pradesh
- India & Myanmar set trade target of $ 3 bn by 2015
- INR plunges to another new low of 66.08
- Latin American countries to diversify trade with India
- ...sector faces acute manpower crunch
- CCI clears infra projects worth INR 2 lakh cr.
|AUGUST 29, 2013|
- Caterpillar renews contract with Fret SNCF
- PostNL operating a "squeaky clean" truck
- Drewry says shipping lines have backs against the wall
- Air India returns to Australia after 16 years
- Gebrüder Weiss: new air and sea head at Vienna airport
- Swiss Post inaugurates new logistics terminal near Zurich
- Port of Koper: more profit with less cargo
- Canadian Pacific ordered to interchange traffic
- Mercator and United Cargo launch major IT solution
- SBS appoints new business development vice-president
- Hoyer cuts CO2 emissions
- More trucks from UK to mainland Europe
- Naming of DFDS ro-ro vessel at Volkswerft Stralsund
- Volga-Dnepr participates in new hangar opening
- Mainfreight expands customs activities in St Petersburg
|AUGUST 28, 2013|
- Damen Galati delivers second PSV 3300
- Ingram Barge makes Senior VP appointment
- Vietnam shipyard increases ship lift capacity
- LCS 4 completes acceptance trials
- Resolve Marine Group in Alaska acquisition
- Wärtsilä to supply propulsion packages for IHC pipelayers
|AUGUST 28, 2013|
- Port of Olympia part of Mission Creek cleanup project
- Trucking segment leads way in trade between NAFTA partners
- Evergreen Group celebrates naming of new L-type vessel
- New shipping company orders eight ultramax bulk vessels
- U.S. enters into MOU for stronger ties with Uruguay
|AUGUST 28, 2013|
- China Shipping signals more foreign partnerships
Line takes action after staying in the red
- Ship Finance 'would survive Frontline default', says Hjertaker
Plans are in place to cut counterparty exposure, says chief executive
- Top 100 Container Ports 2013
Exclusive Containerisation International analysis of the leading global box hubs
- Ardmore Shipping teams up with oil trader Vitol
Deal supports Ardmore's expansion in brighter product tanker market
- Seoul reshuffles policy banks and consolidates ship finance
Study will decide whether South Korea launches a shipping credit guarantee fund
- Scorpio Tankers targets $430m loan for newbuildings
New York-listed product tanker owner continues aggressive expansion
- Target Group orders MR2s and ultramaxes
Greek owner signs deals with Sungdong and Sinopacific
- Rongsheng's losses deepen as cashflow remains under strain
Private Chinese shipyard reports a 72% drop in half-year revenue
- Saudi export ambitions reshape product tanker demand
Take-up for specialist tonnage rises more than 60% in five years
- Höegh LNG posts $6m pre-tax loss
Oslo firm says long-term prospects are robust and Indonesia provides a bright spot
- P&I clubs must buy into a general average solution
Club consent is the last hurdle to overcome, says Townsend
- Frontline slumps to $120m net loss
Fredriksen tanker firm ponders restructuring and calls for more scrapping
- Maersk drops Iceland services
October 1 cut-off follows review into Eimskip slot deal
- Bourbon revenues rise 14% on higher vessel rates
Offshore vessel owners reports demand growth from Africa and Asia
- SCI announces 80% Europe rate hike
Move attributed to higher fuel, insurance and port costs
- Box lines take action to reverse Pacific rates slide
TSA lines aim for westbound increases of $100 per 4o ft
- CSC Phoenix extends its losses and arrears
Coastal dry bulk giant posts $56.2m first-half deficit as revenue shrinks 34%
- CIMC first-half net profits plunge
High finance costs squeeze margins
- Star Bulk eyes secondhand deals on top of newbuilds
Shares in Greek bulker owner soar nearly 11% after results
|AUGUST 28, 2013|
- Former Facebook Executive Tapped as DOT Chief of Staff
U.S. Department of Transportation Secretary Anthony Foxx has tapped a former White House staffer and former director of policy communications for Facebook as his chief of staff. Sarah Feinberg, who most recently worked for the social networking company, has served in the Obama administration as special assistant to the president and...
- Teamsters, DHL's AEI Agree to Extend Contract
Teamsters at Air Express International agreed to extend their contract with the company, keeping their current benefits in place until March 2014. The extension gives both sides breathing room to deal with "substantive operational changes" planned at the U.S.-based company, part of DHL Global Forwarding. "Rather than continuing with negotiations in this...
- Air Freight Dropped at Dubai International in July
Dubai International reported a surprising decline in air freight volumes last month. The world's second busiest airport for international passengers has rarely had a blip in cargo volumes in recent years despite global markets being bearish. Yet although year-to-date growth remained robust, up 8.1 percent to 1,517,694 metric tons in the first...
- Port Everglades Welcomes Grand Alliance GAX Service
Left to right: Michael Vanderbeek, director, Port Everglades Business Development; Steven Cernak, port director; Jose Alberto Diaz, vice president and general manager, Florida International Terminals; and Capt. Sulin, master of the Philadelphia Express.Port Everglades recently celebrated the first vessel call of the Grand Alliance's Gulf Atlantic Express (GAX) service. The Hapag-Lloyd...
- Drivers Back on Job at Green Fleet Systems
Harbor truck drivers returned to their jobs late Tuesday after a 24-hour strike at the Green Fleet Systems warehouse in Southern California. The drivers, who were supported by the Teamsters union, said they were protesting the company's attempts to prevent them from organizing. Randy Cammack, president of Teamsters Joint Council 42...
- Lack of Clarity on China's VAT Frustrates Shippers
China's efforts to shift its export-driven economy toward services and clean up its environment are coming at a high cost for shippers and transportation providers. A new valued-added tax of 6 percent on logistics services and 11 percent on domestic transportation is racking confusion on the industry, as shippers and transportation...
- From Horse and Wagon to Overnite Transportation [Video]
JOC Senior Editor William B. Cassidy met with Overnite Transportation founder J. Harwood Cochrane and UPS Freight President Jack Holmes in June to talk about Cochrane's life in trucking. In this video, the first of a series drawn from their conversation, Cochrane and Holmes discuss the early days of trucking...
- Drewry Eastbound Pacific Rate Falls Below Pre-GRI Level
Drewry Container Rate Benchmark, Aug. 28, 2013 Full-size image The average spot freight rate in the eastbound trans-Pacific trade dropped this week for the third consecutive week, with the rate falling below the level prior to the last general rate increase on Aug. 1. The Drewry benchmark rate for shipping a 40-foot-equivalent-unit container...
- Seaboard Marine Works to Raise Awareness for Fading Plant Species
An event organized recently in Santiago, Dominican Republic by the Dominican Association of Environment & Agriculture made the local news. Numerous media outlets were on site for the Royal Palms initiative, a series of events held to raise awareness for a local species of palm tree that is on the...
- Maximizing Free Trade's Benefits
Free trade agreements are popping up all over the world, with more going into force or new negotiations beginning seemingly each day. In short, countries increasingly are looking at FTAs as a way to increase trade. In just the past six months, 28 countries have started negotiations to set up...
- Port Association 'Optimistic' About WRDA
Kurt Nagle, president of the American Association of Port Authorities, said chances are good that Congress will approve a new Water Resources Development Act this year. "We're very optimistic that there will be legislation this year," AAPA President Kurt Nagle said during a roundtable discussion sponsored by the AAPA, the Port...
- Maersk to Halt Iceland Service
Maersk Line and its intra-Europe subsidiary SeaGo Line said they will not accept cargo to or from Iceland beginning Oct. 1. "These changes follow an extensive review of the commercial and financial viability of our existing service offerings for Iceland," the carriers said. The lines said they will honor all bookings that...
|AUGUST 28, 2013|
- Heidmar's hires
One of the world's largest tanker operators has added two new hires to its UK chartering desk.
- FRO dials back delivery clock
Frontline issued a grim forecast in its second-quarter conference call Wednesday after turning in an earnings report covered in red ink but there were a few positive developments that caught many observers off guard.
- Arms cargo not for repair
Military hardware found stashed on a bulker bound for North Korea from Cuba last month was destined for use and not for repair as it was claimed, according to experts.
- Scorpio adds two more
Expanding Scorpio Tankers' voracious appetite for tonnage shows no signs of fading.
- Ship Finance profit falls
Ship Finance International has booked a drop in second quarter net earnings on lower revenue.
- Scorpio clinches loans
Scorpio Tankers has lined up loans totalling $429.6m to help pay for its huge newbuilding programme.
- CSCL still red
China Shipping Container Lines (CSCL) stayed deep in the red during the first half of the year.
- Two die on bulker
Two port workers have died from asphyxiation on a Greek bulker in India.
- ASL sees profit jump
ASL Marine Holdings has booked a huge hike in earnings thanks to improvements in its main segments of shipbuilding and ship chartering.
- Limarko parent buying
Logistics group Limarko UAB is aiming to take 100% control of reefer owning unit Limarko.
- Hansson eyes upturn
US-listed Nordic American Tanker (NAT) could improve its third quarter results on the back of better tanker rates.
- Opielok exits bulkers
Opielok of Germany has quit the bulker sector with the sale of its last handysize ship.
- Rongsheng takes huge hit
China's Rongsheng Heavy Industries has tumbled to a big first half loss after ship orders collapsed.
- Ocean Yield profit grows
Newly listed Aker spin-off Ocean Yield has posted a strong growth in earnings following its IPO in Oslo in July.
- Bourbon better again
French offshore vessel owner Bourbon has reported another sharp jump in income thanks to a bigger fleet and firming charter rates.
- Captain saved after sinking
A tug master has been rescued from the Welland Canal in the US after his vessel sank.
- Frontline hit by writedown
John Fredriksen's Frontline was hit by a huge writedown in the second quarter which finished with a question mark still hanging over a second restructuring of the company.
- CMES eyes handies
Expanding China Merchants Energy Shipping (CMES) is following up its VLCC newbuilding splurge by ordering 12 new bulkers.
- Samsung HI within sight
Recent confirmation of a pair of LNG newbuildings has taken Samsung Heavy Industries (SHI) orders to within touching distance of its yearly order target.
- Best quarter ever
Seadrill, the John Fredriksen-backed drilling outfit, says its second quarter has seen its best ever operating results and net income.
- HMM raises more cash
South Korea's Hyundai Merchant Marine (HMM) has continued its drive to boost liquidity with an asset-backed securities sale.
- Siem in tax row
Norway's Siem Offshore has denied any liability after being indicted by the country's financial crime squad over late tax returns.
- Hoegh LNG in the red
Hoegh LNG has posted a loss for the second quarter due to reduced income and costs related to its Master Limited Partnership (MLP) launch.
- Owner wins discount
Star Bulk Carriers says it has received a sizeable discount for a large upfront payment on two capesizes ordered in China.
- Miclyn wins Gorgon gig
Miclyn Express Offshore has won a charter contract from Mermaid Marine Australia for work on a huge domestic LNG development.
- New kid on the block
China Aviation Oil (CAO) has expanded beyond its core jet fuel trading business with a move into fuel oil.
- SA should target bunkers
The South African government has been called on to realise the potential of the ship refuelling market in its ports.
- US salvage merger
US salvor Resolve Marine Group is expanding its operations with the acquisition of Alaskan rival Magone Marine.
- And the winner is...
An equity analyst from Wells Fargo Securities has emerged as one of the winners of a prestigious trophy honouring Wall Street's leading sell-side forecasters.
|AUGUST 28, 2013|
- Fuel among worries for domestic carriers
The unrest in Syria has the potential to drive up jet fuel prices, but any increase isn't likely to hurt airlines near-term profitability right away, according to Helane Becker of analyst Cowen and Co.
- Napolitano outlines priorities for next DHS secretary
In her farewell speech as secretary of homeland security, Janet Napolitano on Monday said her successor will need to forge a strong relationship with Congress to ensure the department has adequate resources and security systems.
- Kewill releases mobile truck trip extension application
- L.A. port begins environmental review of Yang Ming project
The carrier recently extended its terminal lease by nine more years, which could net the port up to $525 million, in order to secure support for the new project. The port has agreed to invest $122 million in terminal improvements.
- Transpacific carriers plan westbound rate hike
- CMB's first-half struggles start with Bocimar
- CBP makes IPR seizures in NY, L.A.
Illegal trading under another company's trademark is a serious concern for industry because legitimate businesses lose sales to criminals making cheaper knockoffs of their products, according to regulatory officials.
- Hamburg Süd christens ship in San Francisco
- Ruckus brings WiFi to warehousing industry
|AUGUST 28, 2013|
- Crude soars on back of Middle East tension
'As long as tension escalates in the region, specifically in Syria and Iran, you can expect prices to move higher'.
- Dan-Bunkering appoints two new trading managers
Stefanie Tay and Mads Holm both appointed as trading managers and team leaders.
- Bunker tanker sale price published
Two vessels from the bankrupt company have now been sold.
- Crude pulls prices upward in most ports
Fujairah's 380 cSt prices recorded double digit gains.
- Double digit gains seen across Europe
Rotterdam MGO rose by over $30 pmt.
- Particulate filter technology seeks backers
Danish team wants to get its clean-tech product into production.
- Bunker prices spike across Asia
MGO prices record double digit growth at key ports.
- Frontline deeper in red
Vessel impairment puts hole in company's bottom line.
- Storage opportunity opens up in Singapore
Singapore-listed player to enter fuel oil market.
- Eco ships will drive newbuilding orders, says Italian shipowner
Company has invested nearly $300 million in orders so far.
- Skangass expands LNG transport and bunkering operations
Chartered vessel able to perform ship-to-ship bunkering of LNG, says firm.
- Firm introduces automatic bunker fuel switch system
In anticipation of stricter sulphur emission regulations at several locations in 2015 onwards, says Auramarine.
- Bunker tanker returns to operations
Lukoil's Aginskoye is based at company's Murmansk facility.