The fight against pirates starts on shore, says Solace Global Looking at attacks in isolation is misleading, security firm warns
China's LNG demand promises interesting times for shipowners Beijing may be import-driven now but the Asian giant has home-grown options
Shipping must urge states to extend Operation Atalanta, says Spellar UK opposition spokesman calls on naval forces to co-operate in the fight against piracy
Navios Acquisition prices a $610m note issue Tanker owner anticipates third-quarter loss
NOL profit slides 60% after grim peak season APL revenue falls 13% in Q3 on weaker freight rates
Cosco lowers its listing suspension risk Nine-month figures show Chinese state giant cut its net losses by nearly two-thirds
Maersk Tankers - the hot potato Troubled division finds itself lumped into the 'other shipping' basket
CSSC Holdings' net profit collapses Shanghai-listed unit revenues fall on fewer deliveries
Crowley unveils vessel-sharing deal for US-central America trade Carriers will share space on two 2,500 teu boxships
China tightens its grip on LNG shipping Zhuhai import terminal welcomes its first cargo
Saverys takes majority stake in CMB Interest in Bocimar and Euronav parent crosses 50% threshold
Hanjin Shipping lands $140m loan from Korean Air Loan features one-year tenor and fixed annual interest rate of 5.6%
Danaos achieves a third profitable quarter Eurozone economic recovery will bring sustainable rates recovery, says Coustas
CAI sees 25% rise in box rental revenue during third quarter Owned fleet expansion credited with increase, while peak season demand remains flat
Korea Line returns to profit Dry bulk operator strengthens operation and balance sheet
Nisshin books five bulkers at Hantong Update: five 82,000 dwt ships done at $28m-$29m each
Wake up to risk of cyber attack Costs of $1bn per day should a major US port fall prey, warns security firm
Vessel operating costs fall COSTS of running a merchant ship fell back last year for only the second time in a decade, according to figures from financial consultancy Moore Stephens
Navios Acquisition prices notes offering NYSE-listed Navios Acquisition today successfully priced $610M in new mortgage notes to refinance existing debt securities with a shorter maturity
Cargotec buys Pusnes AKER Solutions said today it had agreed to sell its mooring and loading systems, which operate under the Pusnes brand, for €180M ($248M)
Commission clears TransEuropa A CLAIM that defunct Channel ferry operator TransEuropa Ferries benefited unduly from £3.4M ($5.47M) in government aid has been rejected
Crowley teams with Seaboard VESSEL-sharing agreements are cascading down to regional markets, with Crowley and Seaboard confirming co-operation on their Central America service using larger ships
41 migrants safe on Malta MALTESE authorities are today sheltering 41 migrants rescued off the island yesterday
Rosneft goes on the offensive ROSNEFT and Gazprombank, both run by Russia's government, are forming a venture to take over the Zvezda shipyard near Vladivostok
NOL profits by $20M despite weak season NOL, PARENT group of APL, today reported net profits of $20M for 3Q13 and year-to-date net profits of $61M
Korean Air lends $141M to Hanjin Shipping HANJIN Shipping said today it would receive a loan of KRW150Bn ($141M) from Korean Air
CS Haisheng predicts profits for 2013 SHANGHAI-listed CS Haisheng today predicted that it would return to full-year profits in 2013, on one-off investment gains
TransAtlantic plans rights issue worth $23M A RIGHTS issue worth SEK148M ($23M) has been approved by the board of Rederi AB TransAtlantic, the company said today
Law Forcing Rule-Making on Trucker Sleep Apnea Tests Puts Agencies on Notice Congress was not caught napping as federal regulators moved to set new requirements for identifying and treating sleep disorders among truck drivers. Despite a partial government shutdown, legislators this month rushed a bill to the White House ordering the Department of Transportation to pursue a full rule-making and not simply...
Crowley, Seaboard Enter VSA in Central America Trade Crowley Maritime's liner services group and Seaboard Marine have entered into a vessel-sharing agreement to launch a new weekly service with larger ships between South Florida, Costa Rica and Panama, beginning in November. By sharing vessel space, Crowley and Seaboard will increase total capacity in the trade by using two vessels,...
TransForce's Profit Down More Than 18 Percent TransForce reported its profit in third quarter of 2013 was C$44.0 million (about US$42.0 million), down 18.2 percent year-over-year from C$53.8 million. However, quarterly revenue increased 1.8 percent to C$775.1 million, driven by higher revenue in the package and courier segment as a result of the Velocity acquisition, which was acquired...
Goodman Signs China Distribution Center Deal With BMW JV Property giant the Goodman Group has signed an agreement to develop a 108,000 square foot facility for BMW Brilliance Automotive in Hebei Province, China. The tailored facility will be used by BBA, a joint venture between BMW and Brilliance Auto, for the regional distribution of car auto parts in Northern China. The...
CEVA Targets Asia Growth CEVA Logistics is targeting further growth in Asia, according to Inna Kuznetsova, the company's chief commercial officer. Some €2.1 billion (about US$2.9 billion) of CEVA's fiscal year 2012 revenue was derived from its Asia-Pacific operations, representing around 30 percent of its annual income. Speaking at the launch of the company's new "Center...
CSCL Reports Third Quarter Loss hina Shipping Container Lines reported a net loss of 404.4 million Chinese yuan (about US$66.3 million) in the third quarter of 2013, compared with a net income of 1.01 billion yuan (about US$165.4 million) in the same period last year, amid overcapacity issues and weak demand in international trade. Quarterly revenue...
ANA Group's Fiscal First-Half Profit Tumbles Japan's ANA Holdings Inc., the parent firm of All Nippon Airways Co. (ANA), said on Oct. 30 that its group net profit nosedived in the first half of fiscal 2013, which started in April, from a year earlier, despite a jump in international cargo revenue. ANA Holdings posted a net profit...
UPS, FedEx Expect Busy Holiday Shopping Season A shorter holiday shopping period and a consumer shift towards e-commerce may be the drivers behind U.S.-based courier delivery companies' predictions for increased shipment volumes during this year's peak season. In 2013, there are only 26 shopping days between Thanksgiving and Christmas, making it the shortest season since 2002. UPS predicted peak...
Los Angeles Businessman Gets Jail Sentence for Evading Customs Duties Trial picture of fraudulently imported blue jeans.Los Angeles-based businessman Sunil Jiwat Mirwani has been sentenced to 27 months in prison for evading customs duties on more than $30 million in Chinese-made apparel, according to U.S. Attorney Laura E. Duffy. The sentence, which was handed down by U.S. District Judge Michael M....
US Intermodal Rates Pulled Down by Eastbound and Westbound Lanes An index of U.S. intermodal rates inched down for a second consecutive week in the week ending Oct. 28, pulled down by declines in east and westbound U.S. lanes. The overall index rate slipped 0.1 percent or $2.22, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided...
MSC to Add Saudi Arabia Call to India-Europe Service Mediterranean Shipping Co. plans to expand its IPAK Service between India and Europe by adding a call at King Abdullah Port, Saudi Arabia's new gateway hub. Starting in early November, the revised IPAK rotation will be as follows: Rotterdam, the Netherlands; Antwerp, Belgium; Felixstowe, England; King Abdullah; Jeddah, Saudi Arabia; Salalah,...
Panama Canal Expansion Delayed Again Panama Canal's Pacific locks under construction on Oct. 29. Photo courtesy of Panama Canal Authority.The Panama Canal expansion's completion date has been delayed from April 2015 to June 2015 in the Pacific locks, according the Panama Canal Authority. The delay was caused by a re-evaluation and modification of the logistics and...
Dockworkers at Nehru Port Call Off Strike Unionized dockworkers at the DP World facility in India's Port of Jawaharlal Nehru ended a strike that had disrupted cargo movements to and from the country's largest container gateway for more than two weeks. "The strike was called off on Tuesday night. The dockworkers resumed work this morning," a union representative...
House Freight Report Raises Hopes for Next US Highway Bill WASHINGTON - The messengers were more important than the message when a special U.S. House panel, following six months of hearings and logistics site visits, recommended spending more on freight transportation. That Congress wants to increase investment to make shippers more globally competitive but is kicking the can on how to...
Could Crude Oil Put the Jones Act Into Play? To the credit of those who support the Jones Act, the U.S. law requiring vessels operating in the domestic trade to be built, owned and crewed by Americans, they take little for granted. An unapologetically protectionist law in a world of free trade agreements, the Jones Act is the citadel...
Drewry Eastbound Trans-Pacific Rate Remains Unchanged Drewry Container Rate Benchmark, Oct 30, 2013 Full-size image The Drewry benchmark rate for shipping from Hong Kong to Los Angeles was unchanged in the week of Oct. 30 at $1,736 per 40-foot-equivalent unit, where it has remained since falling to that level in the week of Oct. 16. Rates in this...
Celadon's Net Income Slumps 20.5 Percent Celadon Group reported its net income plummeted 20.5 percent to $6.6 million in the first quarter of fiscal year 2014, which ended Sept. 30, 2013, from $8.3 million in the same period last year. However, quarterly revenue for the North American motor carrier, No. 35 on JOC's list of the Top...
Battling Railroads and the Origins of LTL Trucking The third part of a special program on Overnite Transportation founder J. Harwood Cochrane, 100 years old, and the rise of the trucking industry. Contact William B. Cassidy at wcassidy@joc.com and follow him at twitter.com/wbcassidy_joc....
NOL Posts 3Q Profit on Lower Revenue NOL Group's extensive cost-cutting paid off in the third quarter as the Singapore-based shipping line posted a net profit of $20 million even as its revenue declined. NOL's profit was 60 percent lower than the $50 million it earned in the same quarter last year but was a swing of $55...
ISC drops into loss International Shipholding Corp (ISC) reported a third-quarter loss but held firm to its outlook for the year.
Strikers target Carnival Canada's United Steelworkers (USW) union has staged a demonstration at Carnival Corp's suburban Miami headquarters over the role of chief executive Arnold Donald at another company.
Danaos gearing up for buys Danaos is combing the market for geared containerships as it aims to build its fledgling presence in the segment.
US aims for mariner aid The US Coast Guard has urged lawmakers to take up a proposal to pay seafarers during pollution investigations against their employers.
Subsea 7 wins in Brazil Subsea 7 is piggybacking on Farstad's latest long-term charter with Brazil's Petrobras.
Gurnee wants more Ardmore Shipping will follow up its first post-initial public offering (IPO) secondhand deal with the purchase of further newbuildings and additional trading ships, its chief executive says.
Chartering titan created New York-listed Archer Daniels Midland (ADM) is combining its ocean freight business with chartering subsidiary Alfred C Toepfer to create a new trading giant.
Navios eyes extra $10m Navios Maritime Acquisition (NNA) aims to raise $10m more than planned from a private placement of ship mortgage notes.
SCF left out Gazprombank and Rosneft are teaming up to take control of Russia's new far east shipyard Zvezda.
Aker Phil down on sales Aker Philadelphia Shipyard's third quarter earnings slumped as the company reported lower revenue from vessel sales.
Seagull loss soars Vietnamese cargoship owner sees deficit rise 1,000% in the third quarter.
Cosco's time running out China Cosco Holding Co (CCHC) has three months left to avoid a potential delisting after posting another loss in the third quarter.
Kiel Canal still closed The Kiel Canal remained shut on Wednesday as pumping operations began on a stricken cargoship near Kudensee.
Another blow for Batista Eike Batista's OSX has cancelled another FPSO charter contract after its stricken sister oil and gas company failed to make payments.
NOL misses the mark Neptune Orient Lines has turned in a weaker than expected third quarter performance.
Titan yard sale closer The sale of troubled Titan Petrochemicals Group's shipyard to white knight investor Guangdong Zhenrong Energy (GZE) has moved a step closer.
Meiji sees profit jump Meiji Shipping of Japan is predicting an eightfold surge in first half earnings.
US liner link-up US owners Crowley Maritime and Seaboard Marine are teaming up on liner routes from Florida to Costa Rica and Panama.
Sanoyas slumps to loss Falling revenue pushes Japanese shipyard into the red in the first half.
Sweet 16 for Mipo Hyundai Mipo has secured contracts worth almost $500m for medium range products tankers.
TransAtlantic improves Swedish ro-ro and offshore group Rederi AB TransAtlantic has posted a third-quarter profit to reduce its loss so far this year.
Hanjin's helping hand Korea's Hanjin Shipping is banking KRW 150bn ($141m) from a major shareholder to "overcome liquidity problems."
RABT's discount deal Sweden's Rederi AB TransAtlantic is offering investors new shares for 28% less than the stock's current price in a bid to boost "strained liquidity."
An unwanted record Indonesia looks set to report a record month for ship robberies as reports of another string of incidents emerge.
Wisdom buys bulkers Wisdom Line has bolstered its newbuilding orderbook with three more bulker orders, the company has confirmed.
Ezra grabs offshore deals Ezra Holdings has hauled in new contracts worth $110m for its subsea services and offshore support services divisions.
Recovery may be early Khalid Hashim has painted a bullish picture for the dry bulk sector saying the recovery may arrive earlier than many have predicted.
Global air freight inches up in September In September, global freight ton-kilometers rose by 0.5 percent, year over year, following a 3.4 percent rise in August. Even with this worldwide slowdown in cargo activity, volumes are still showing increases.
Crowley and Seaboard in Central America VSA By sharing vessel space, the carriers said they will increase total capacity in the trade by using two 2,500-TEU-capacity vessels, resulting in a more efficient operation and reduced carbon emissions in the lane.
ATA calls out Brazilian driver drug study
ABF employees reject strike action "Based upon this outcome, there will be no strike by employees in the affected region or anywhere else in the ABF nationwide system," the carrier said in a statement.
FESCO to offer U.S.-St. Petersburg service FESCO Integrated Transport North America has launched a new regular container service from North America to St. Petersburg, Russia, from the ports of New York, Norfolk and Charleston with weekly frequency.
WTI drops as stocks rise to four-month high Production declines 43,000 barrels per day to 7.85 million, report shows.
Tug/barge container carrier to run on LNG Intended route runs between US Gulf Coast and East/West Coast.
Prices up in Fujairah MGO avails good, while IFO avails tight in Cape Town.
Mid-week prices firm across Europe Prices rose in all major European ports
Technology company claims it can cut bunker consumption 'Soaring fuel prices, overcapacity and lower profits are forcing shipbuilders to rethink engine configurations.'
Obama Administration backing LNG marine fuel FMC is funding an LNG marine fuel research project.
Bunkers being pumped from damaged freighter Kiel Canal still closed on Wednesday.
Refiner pulls out of fuel oil production Fuel oil has been 'pulling down our margins', says Petron official.
Danish player adds to distillate storage capacity Company says it is positioning itself in advance of 2015.
Bunker prices largely up in mid week Supplies of bunker fuels were mostly fine at major ports in Asia.
Partnership selects first of five LNG bunkering sites Other LNG bunkering sites planned for construction in US, and, possibly, Canada.
Titan Petrochemicals shipyard sold Facility sold to Chinese trade and investment firm.
Profits down at scrubber manufacuturer Alfa Laval Lower sales were expected, says CEO.
US: LNG bunker fuel's price advantage will stay long term FMC forecast prices LNG production well below residual fuel.
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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