MOL to pay US settlement Mitsui OSK Lines (MOL) and affiliate Nissan Motor Car Carrier have agreed to pay a $1.275M settlement to resolve price-fixing allegations in the Asia-US trade
BIMCO forecasts 11-year low growth in dry bulk fleet The dry bulk carrier fleet appears to be heading to an 11-year low rate in growth in 2014 despite an expected further sharp decline in demolition sales, a senior shipping analyst forecasts
Rail from China to vie with deepsea Transcontinental rail container traffic from China to Europe is growing dynamically and by the end of the decade may vie with deepsea shipping for the Asia-Europe trade in terms of unit cost as well as time
Navios Acquisition upsizes public offering Navios Acquisition has increased the size of its follow-on offering as the parade of equity sales continues unabated in New York
Immigration Reform's Threat to US Trade As the 2014 U.S. election season begins to take shape, we're hearing again about the possibility of immigration reform. The demand for reform is stronger or weaker depending on the latest polls, but, as international traders, we will want to focus for now on Senate Bill 744. Entitled the Border...
SCFI Asia-Europe Rates Tumble Shanghai Containerized Freight Index, North Europe, week ending Feb. 14, 2014 Full-size image Spot container freight rates from Shanghai to northern European ports and Mediterranean ports fell roughly $200 per 20-foot-equivalent container (TEU) in the week of Feb. 14, hitting their lowest level since early December 2013. Rates from Shanghai to North Europe...
CSAV Raises Capital in Advance of Merger Chilean carrier CSAV said it plans to add up to $600 million in capital to complete the financing of ships under construction and to help finance a proposed merger with German shipping line Hapag-Lloyd. CSAV said its board recommended, subject to shareholder approval next month, a $200 million capital increase to...
YRC Worldwide Seals $1.1 Billion Refinancing Deal After several months of nail-biting moments, YRC Worldwide finally secured its $1.1 billion refinancing deal, pushing debt deadlines that loomed a month ago, threatening YRC's future, out to a five-year horizon. YRC Worldwide's lenders agreed to a $700 million term loan and $450 million asset-based loan covering all of the $4.9...
C.R. England Partners With Shell, Adds LNG Trucks Trucking company C.R. England is deploying additional natural gas-powered vehicles in Southern California while planning to expand its use of liquified and compressed natural gas trucks. The Salt Lake City, Utah-based carrier signed a multi-year LNG bulk fueling agreement with Shell that will support a dedicated trucking operation in Southern California,...
"K" Line to Invest in Flag Ship for "DRIVE GREEN PROJECT" as a Next-Generation Environment-Friendly Project Kawasaki Kisen Kaisha, Ltd. ("K" Line) is pleased to announce it has just launched "DRIVE GREEN PROJECT" in order to pursue environmental protection and energy savings with the world's most advanced technologies to be integrated on the 7,500-unit Car Carrier on order with Japan Marine United Corporation as Flag Ship...
Port of Long Beach to Test New Clean-air System for Ships The Port of Long Beach will fund testing of a new air pollution-control technology for docked cargo ships, thanks to an agreement approved Monday by the Long Beach Board of Harbor Commissioners.Under the pact, the Port would rely upon regional air quality authorities to oversee a demonstration project to thoroughly...
Chairman to step down at Clarksons Philip Green has decided to step down as chairman of Clarksons in order to focus on his other responsibilities. His resignation from the board will take effect from the AGM on 9 May. Bob Benton, chairman until last year, will remain a non- executive board member and assume the role...
Los Angeles Customs Brokers & Freight Forwarders Association Elects 2014 Officers On Saturday February 8, 2014, the Los Angeles Customs Brokers and Freight Forwarders Association (LACBFFA) elected its 2014 officers: Mr. Mark Hirzel, Director of Global Trade Management at MIQ Logistics was elected President; Mr. Wayne Wagner, Senior Manager, U.S. Brokerage Services of FedEx Trade Networks was elected Vice President; Ms. Barbara...
Fund in at Cal Dive Hedge fund Aristeia Capital has unveiled a significant minority stake in Cal Dive International.
MOL agrees to fine Mitsui OSK Lines (MOL) has agreed to $1.28m in US fines, making it the third operator to pay up in sweeping car carrier competition probes.
Euronav plan dashed Euronav acknowledged today that a joint bid with Blackstone Group for five Overseas Shipholding Group (OSG) tankers has fallen through.
OSG's loss-making December Overseas Shipholding Group (OSG) reported nearly $55.5m in losses for December, bringing its total accumulated losses since to $583m since filing for bankruptcy.
Hornbeck OSV arrested Cotemar has secured the arrest of a Hornbeck Offshore Services vessel in a $19m dispute over a casualty off Mexico.
Sergey breaks the ice TradeWinds digests the digits making the headlines this week.
Klaveness ups the bidding Norway's Klaveness Marine has increased its offer price for Norwegian Car Carriers (NOCC) as it gave itself more time to complete a takeover.
VLCC up for grabs Japan's JX Shipping is putting a veteran VLCC up for sale.
Revolutionary thinking We take a look at what was said in the market over the past week.
Krasnoye signs for trio Russia's Krasnoye Sormovo shipyard has won work from state ports agency Rosmorport for new dredgers.
Coscol signs with Shell Chinese owner Cosco Shipping Co (Coscol) has clinched a heavy-lift deal with Shell.
SCI curbs Q3 loss Shipping Corporation of India (SCI) cut its third quarter deficit thanks to a major improvement in its dry cargo segment.
Losses grow at Essar India's Essar Shipping has seen its deficit grow in the third quarter to the end of December as spot markets remained depressed.
Seroja warns on profit Indonesian shipowner Seroja Investments has brace investors for a loss when it releases its full year earnings results by the end of the month.
Ship blaze under control A fire on a German multipurpose (MPP) ship has been contained at the Emder Werft shipyard in Emden.
Ullman hails Shell deal Sweden's Concordia Maritime has won work from Shell in Singapore for two of its P-MAX products tankers.
Cosco wins livestock duo Cosco Corporation (Singapore) has won contracts for a pair of livestock carrier newbuildings.
Final sale for Lloyds? Lloyds Banking Group is lining up a last big disposal of shipping loans as its exit from the sector continues.
WIS weaker again Shiprepairer Western India Shipyard (WIS) has posted a bigger loss for the fourth quarter.
Samsung inks $1.5bn deal Samsung Heavy Industries (SHI) has confirmed a huge order for a floating LNG (FLNG) production unit.
Eimskip tweaks schedule Icelandic container line Eimskip is adjusting its schedule in the Atlantic to boost reliability in the face of winter storms.
Sado Steam Ship slumps Japan's Sado Steam Ship has reported a 90% drop in full year earnings.
ESL prospers Finnish bulker owner ESL Shipping has seen annual earnings jumps as fuel costs were cut.
Condor switching flag? Channel Islands ferry operator Condor Ferries is considering re-flagging to France as a week-long crew strike drags on.
CSAV to raise $600m Chilean boxship owner CSAV is plotting two share issues worth a combined $600m to smooth its path to a merger with Hapag-Lloyd.
Belships back in black Belships has ended the financial year on a high with a return to profit in the fourth quarter, according to results released Friday.
Keppel wins Russian trio Keppel Corp has secured a newbuilding order for three high-spec jack-up drilling rigs in a deal worth $650m.
MOL orders four Mitsui OSK Lines (MOL) has expanded its methanol carrier fleet with an order for four more ships.
Vallianz profit surges Vallianz Holdings has reported an 88% increase in full year profit recording record earnings of $10.3m.
The show must go on Aker Philly back in business following arc flash that left electrician with severe burns.
YRC receives new financing terms In the culmination of a long labor negotiating and debt wrangling process, YRC Worldwide Thursday came to new financing terms on a $700 million loan and received a $450 million asset-based loan facility.
Norfolk Southern train derailment causes oil spill A Norfolk Southern train transporting crude oil from Canada that was traveling between Chicago and New Jersey derailed Thursday in western Pennsylvania, forcing 21 of its 120 cars off the track, according to Reuters.
Imperial Tobacco considering listing logistics business
Carriers' cargo shipments bloom with higher flower volumes Global carriers have geared up for weeks in preparation for Valentine's Day 2014, and have seen increases in flower activity this year compared to last year.
Momentum Transport buys Jacksonville forwarder
Year-end merger activity up 57%
Cargolux to add another 747-8 freighter Cargolux has ordered a new 747-8 freighter, valued at $357.5 million, from Boeing, bringing the airline's total oder of 747-8 planes to 14. Delivery of the additional plane is expected in March 2015.
DHL unveils Big Data tool
GAO recommends improvements to MarAd ship recycling
Fuel prices fall in Houston A local supplier said he is out of LS380 at the US port.
Weekly Global Market Report A weekly price roundup from bunkering hubs around the world.
Bunker's Mexico Group opens independent bunker terminal Facility is based at the port of Lazaro Cardenas in Mexico.
ExxonMobil offers cost-saving fuel tips Says operators could save $3.00 pmt by optimising quality.
Prices lack direction across Europe Good demand reported in Istanbul.
Vitol pulls out of Rotterdam terminal project Move could threaten plans to use Urals crude as an alternative benchmark to North Sea Brent.
Prices firm in Fujairah Suez prices unchanged.
Brightoil 'in talks' with US oil companies Brightoil has been searching for upstream investment opportunities in China and overseas for several years.
Norwegian Cruise Line to install 28 scrubbers on six ships Green Tech Marine says order reaffirms its 'strong position in the exhaust gas cleaning market'.
Asian prices end week on stable note Bad weather at Tokyo Bay affecting delivery schedules.
ARA barge operator expanding certified mass flowmeter system fleet First company with barge to obtain independently certified Coriolis system expecting two more barges to pass 'rigorous' process soon.
Singapore to publish safe shipping guide MPA addresses recent series of collisions.
South China fuel oil imports to increase in February Majority of imports from bonded bunker players.
Port to test alternative vessel emissions control system System is 'an incredible breakthrough', says Harbor Commission President.
ClassNK to verify new SOx scrubbing system Class society engages in joint- project.
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