Dorian LPG raises $100m Money to fund newbuilding VLGCs on order
Hansa Treuhand confirms its first two KG insolvencies Development is 'bitter pill', says Ebel
Maersk Line profitability secured Possible rejection of P3 alliance will not weaken Danish giant's future profitability, says Macquarie
Zim eyes brighter future after financial rescue Debt settlement package frees up expansion plans
View from the Bridge: A longing for quay lengths Hutchison boss John Meredith talks about his vision as he assumes a new role at the world's largest terminal operator
Capesize market stabilises, but rates are still low Western Australia majors have been active despite China's holidays
JMU opens with a bang Japan shipyard consolidation pioneer posts strong results in first earnings report
Zim cancels its last 12,600 teu ships at Samsung Container line has also trimmed back its bookings with Hyundai Samho
Taiwan lender sells bad TMT loans to Deutsche Bank after Citi deal fails Chang Hwa Bank offloads portions secured against B Max and C Handy for $11.5m
Seoul sacks oceans and fisheries minister over Yeosu oil-spill comment President dismisses Yoon for calling oil giant Caltex the primary victim
Idle box fleet tops 2013 early February figure Lloyd's List Intelligence data shows inactive vessels this week at 3.2% of the total
HMD secures order for six product tankers South Korean yard books 37,000 dwt ships for $35.3m apiece
Hyundai yards post weak annual earnings HHI net profit falls 72% and Hyundai Mipo sinks into the red
Hanjin Heavy Industries reports 2013 operating loss One-off costs dent shipbuilder's net income
Liberia confirms that Kerala was hijacked Flag state and Interpol probe refute Angola claims that pirate attack report was 'fake'
Dear lender, it has come to our attention that... Liability arising from credit providers' conduct is an issue that does not go away
Oceanbulk seals its first VLCC orders New York fund manager believed to be majority partner for duo at Hyundai
Shipping preferred offerings top $1.2Bn Seaspan has priced a $150M offering of perpetual preferred equity, bringing the industry's total gross proceeds from sales of this security to over $1.2B
Consortium defends canal work halt The consortium building the third set of locks for the Panama Canal has delivered a new funding proposal and explained why work has been halted
Ports America refinances debt Container terminal operator Ports America has refinanced and consolidated the debt of two of its operating companies into a single capital structure
TOTE picks LNG suppliers Jones Act operator Totem Ocean Trailer Express (TOTE) has signed a letter of intent with marine fuel suppliers for its new LNG-powered container ships
Call for new icebreakers for St Lawrence The Canadian Coast Guard's icebreakers are too old to keep the St Lawrence River open during severe ice conditions in winter, industry group SODES has warned
Stena Line, Tallink extend charter Stena Line has extended a bareboat charter agreement for two vessels with Estonian ferry company Tallink Group
Storms Reveal Costly Supply Chain Faults, 3PL Warns Shippers and freight transport operators must move quickly to strengthen supply chains disrupted by this winter's severe weather, or face more disruption, equipment shortages and higher costs in the future, a logistics executive warns. Supply chains need to be more flexible when it comes to delivery windows and lead times for...
Pivotal LNG and WesPac Midstream LLC Selected to Serve TOTE's LNG Vessels in Jacksonville, Florida ATLANTA - Feb. 6, 2014 -Pivotal LNG, Inc., a wholly owned subsidiary of AGL Resources (NYSE: GAS), and WesPac Midstream LLC (WesPac) today announced they have been selected by TOTE, Inc. to provide liquefied natural gas (LNG) to fuel TOTE's two new state-of-the-art container ships in Jacksonville, Fla. TOTE's new...
Global Air Cargo Faces Further Challenges The global air cargo market faces a challenging year after growing just 1.4 percent in 2013, according to the International Air Transport Association. Freight capacity grew nearly twice as fast, at 2.6 percent, further depressing the global load factor to 45.3 percent, the industry body said. Still, this expansion was lower...
Profitable ODFL to Spend, Expand in 2014 Powered by profit, Old Dominion Freight Line will continue expanding services, its footprint and market share in 2014, spending $132 million for real estate and expansion projects at existing facilities and $163 million on truck equipment. ODFL expects to increase capital expenditures more than 15 percent in 2014 to approximately $342...
Con-way's Profit Slipped in Fourth Quarter Con-way reported net income in the fourth quarter of 2013 was $11.7 million, slipping 0.9 percent year-over-year from $11.8 million, ending the year in a dip after two previous quarters of growth. Quarterly revenue for the motor carrier, No. 5 on JOC's list of Top 50 Trucking Companies, was $1.358 billion, sliding...
Logistics Providers: Still Room to Grow Third-party logistics providers have gone from the fringes of supply chain management into big-time players that serve an estimated 80 percent of Fortune 500 companies. With so much market penetration, how much more can 3PLs grow? Plenty, it appears. Logistics providers and analysts say the 3PL market continues to develop as...
Q&A: The Lowdown on Pot Q: Now that marijuana has been legalized in many states, I've been wondering how it's transported from places where it's grown and processed to the establishments where it's sold. I assume it's handled by the same motor carriers who haul other types of restricted medical supplies under the same conditions,...
India OKs Port Projects to Double Container Capacity The Indian government has approved plans to develop five new cargo terminals, including four major container facilities, at various state-owned ports through public-private partnerships, as part of its $110 billion port capacity-building program. The planned projects, cumulatively estimated to cost Rs. 17,630 crore (approximately $2.8 billion), include a fourth container terminal...
Logistics Sector to Lift Demand for Heavy-Duty Trucks in China Rising demand from the logistics sector will boost sales of heavy-duty trucks in China and demand for imported components, according to the latest report from Macquarie Equities Research. After year-on-year declines in 2011 and 2012 amid macro tightening, the sector saw sales growth of 19 percent year-on-year in the first 11...
The Statistical Maze What prompted a headline 20 percent drop in the U.S. to China trade last year? One of the standouts from the Agility Emerging Markets Logistics Index 2014 released last month was the judgment that the U.S. to China ocean lane was one of 2013's biggest losers - declining 20 percent year-on-year...
Revenue Rises, But Profit Dips at India's Blue Dart Express Blue Dart Express, India's leading air express and logistics services provider, reported a net income of Rs. 23 crore (approximately $3.7 million) in the third quarter of fiscal year 2013-14, tumbling 49 percent year-over-year. Quarterly income from operations was $81 million, up 10 percent from $73.5 million in the same period...
Kintetsu World Express Net Profit Drops Major Japanese international freight forwarder Kintetsu World Express Inc. (KWE) said its net profit fell 4.3 percent year-on-year in the first three quarters of fiscal 2013, which started on April 1, 2013, to ¥6.5 billion ($63.6 million) on a consolidated basis. The net profit decline came despite relatively strong growth in...
Paradise buys LPG pair Paradise Gas Carriers (PGC) of Greece has waded further into the LPG market with the purchase of a pair of 6,500-cbm vessels from Petredec.
Quartet sold off German owner Marconsult has snapped up four laid-up general cargoships auctioned off by Bremen district court.
Battle for NOCC extended A battle for the future of Norwegian Car Carriers (NOCC) is to continue despite insufficient shareholders accepting a takeover offer.
'We have two years' Dry bulk and tanker markets hold hope for reasonable freight rate and vessel value improvements over 2014 and 2015, according to a top shipping banker.
Dorian taps OTC Dorian LPG has taken its fundraising past the $500m mark following its latest shares sale.
Fos-Lavera hit by strike The key French port of Fos-Lavera has been disrupted by strike action as the CGT union protested against reforms.
Smit brought in Dutch salvor Smith has been tasked with removing oil from a detached section of the Spanish cargo vessel Luno.
Kyoei confidence climbs Kyoei Tankers predicts it can make a JPY 220m net profit in the year ending 31 March 2014 - some 45% better than its previous forecast of JPY 170m in November 2013.
One for all and all for one We take a look at what was said in the market over the past week.
Deiulemar deal in doubt Auction of bankrupt owner's bulker fleet comes under scrutiny from creditors concerned over the price.
Precious chops three more Precious Shipping of Thailand has cancelled another three vessels on order at ABG Shipyard in India.
Samjin adds duo NK Shipping declares options for two kamsarmaxes at Korean-owned shipyard.
PSL pushes up profit Thailand's Precious Shipping has been boosted by cash from cancelled newbuilding contracts in 2013.
Hans Jakob Kruse dies Germany's Hapag-Lloyd has announced the death of its former chairman Hans Jakob Kruse.
Crew safe after sinking All 12 crew have been rescued after a cargoship sank in Bangladesh.
Mutiny on the Victoria Passengers refused to leave a Costa cruiseship in Hong Kong after the vessel failed to call at Vietnam's Ha Long Bay.
Samsung tears up Zim contracts Korea's Samsung Heavy Industries has scrapped contracts for another three big Zim boxship newbuildings.
Mipo wins MR sextet Korea's Hyundai Mipo Dockyard has added another series of MRs worth KRW 228.6bn ($212.7m) to its orderbook.
Jutha sees mixed response Jutha Maritime has had a mixed response to its latest fund raising exercise with only a partial take up of a one for one rights offering.
Seaspan prices preferred Seaspan Corp has priced its $125m offering of its 8.25% Series E Cumulative Redeemable Perpetual Preferred Stock at $25 per share.
Swiber eyes newbuild Singapore's Swiber Offshore is said to be poised to order a deepwater pipelay vessel at a shipyard in China.
Restis bout reignites United Against Nuclear Iran (UANI) does not appear to have abandoned its campaign against embattled Greek shipping mogul Victor Restis.
Kerala inquisition ongoing The Liberian Registry appears to be taking the lead in a campaign aimed at putting an end to speculation that the recent hijacking of a Dynacom product tanker off Angola may have been a hoax.
GUPC tries to revive talks on stalled Panama Canal project Contractor Grupo Unidos por el Canal said Thursday it offered a new compromise proposal intended to help meet the Canal Authority's demands.
ILA members to vote on Baltimore contract next week The proposed contract largely deals with work on automobile, cruise and forest product ships. A six-year master contract for working container ships was approved by the union last year.
Bayonne Bridge raising 'well under way' The Port Authority of New York and New Jersey says construction to raise the roadway of the Bayonne Bridge is "well under way and continues to accelerate at a brisk pace."
Hapag-Lloyd's Hans Kruse dies
Shipbreaking reformers take protest to Hamburg Opponents of the practice of the demolition of old ships on beaches in Southeast Asian countries took their campaign to the headquarters of the German Shipowners Association in Hamburg Friday.
Tropical Shipping benefits from cargo increase
Li & Fung says new unit aims to improve safety
Lawsuit reported over loss of MOL Comfort
TOTE selects LNG provider at JaxPort
Bill calls for national maritime policy
U.S. 2013 exports reach a record $2.3 trillion The U.S. trade deficit also improved $63.1 billion from the past year to $471.5 billion. Merchandise exports to the 20 economies that have trade agreements with the United States reached a record $732 billion.
Bunker prices end week firm in Houston Players say low sulphur avails are extremely tight in the US Gulf.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Firm sees opportunities as China switches to cleaner fuels Invests to enhance profile in Chinese market.
Dynamic Oil expands Middle Eastern ops by adding traders Leonore Lagendijk and Mirko Antichi will be based in Dubai.
Gazprom Neft Marine Bunker to supply fuel to Olympic vessels Firm is first operator in the Black Sea to obtain permit.
IFO prices softening in Fujairah Mixed price movements in South Africa.
Prices firm in European hubs Avails of prompt product were tightening in Rotterdam.
Italian LNG terminal could supply fuel for ships Consortium plans to start operations in 2018.
Bunkerworld broadens its data distribution News and price indications are to be carried by leading data provider.
Ferry company eyes quick switch to direct LNG bunkering Fuelling by truck should be temporary, says shipowner
Automated system cuts ferries' mooring time System operates using suction pads.
Market outlook 'soft' as arbitrage volumes climb Players expect Singapore's benchmark IFO bunker prices to weaken as more cargoes arrive.
STX pursued by owners over million dollar bunker bill Case centres on bunkers paid for to secure release of chartered ships.
Prices lack direction in Asian markets as week ends Good supply across the region.
Mauritius aims for threefold increase in bunker volumes 'We are impressed by the interest of international companies to invest in bunkering,' says Finance Minister.
CMA CGM vessels to adopt modular cold ironing system Equipment in form of a container box that can be transferred to other ships when needed.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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