|JANUARY 30, 2014|
- TSA ups transpac rate US$300/FEU March 15, another comes May 1
- Hanjin blames US$631 million 2013 loss on low rates and overcapacity
- Guangdong's ports box volume 4pc in 2013, growing 1pc against 2012
- Engineer stabbed in pirate attack near Luanda, Angola, 27 crew held
- Chongqing rail freight up 4.2pc to 23.34 million tonnes in 2013
- Manzhouli's railway container volume up 6pc to 71,106 TEU in 2013
- Manzhouli plans China's biggest farm produce export base to Russia
- Xiamen to launch seaborne express mail service to Taiwan in 2014
- Sino-Kazakh Lianyungang distribution facility to cost US$112 million
- Taiwan president urges, then downplays stronger ties to China
- EU customs' raids seize contraband valued at US$12 million in duties
- Lift EU block exemption on shipping consortia, Global Shippers Forum
- StederGroup moves 3 x 252-ton cables from Italy-Netherlands
- Kuehne + Nagel renews two-year logistics deal with FlexLink in Poland
- Australia earmarks extra US$88 million for cargo and mail screening
- Volga-Dnepr flies 60-ton telecom satellite from Japan to Kazakhstan
- IAG Cargo adds three London-Cape Town flights, bringing total to 10
|JANUARY 29, 2014|
- FEI Cargo commences its silver jubilee celebrations with a difference
- New Year sees rate increases in certain shipping segments
- Anti-dumping duty likely on certain alloy auto wheels
- Amsterdam port region achieves record transhipment volume in 2013
- APM Terminals Inland Services South Asia introduces mobile container tracking system
- Dighi Port handles first SCI vessel
- CCEA approves development of trunk infrastructure for DMIC investment region
- INR gains further against dollar
- Netafim wins mega drip-irrigation project
- RBI's repo rate hike disappoints industry
- Sops on cotton yarn exports restored
|JANUARY 29, 2014|
- Heidmar rethinks CEO appointment
- Farstad OCVs to be Rolls-Royce DP3 equipped
- Giant Air Lift Bags ease FPSO decommissioning
- January 29, 2014 Crowley opens new Guatemala City office
- Wärtsilä to ax 1,000 jobs
|JANUARY 29, 2014|
- TSA member carriers eye number of rate increases
- Matson issues $100 million in senior unsecured notes
- Mitsui O.S.K. Lines vessel rescues 24 Chinese mariners
- Inchcape Shipping Services warns of Australian port backup
- Panama Canal Authority meets with expansion group
|JANUARY 29, 2014|
- TMT loses control of A Ladybug
Court allows bank to take over car carrier
- Chemical tanker and Cosco boxship collide in Straits of Singapore
Fei He reported to have sustained damage to bunker tank
- CMA CGM starts Somalia service
New loop will link Mogadishu and the Middle East
- VLCC earnings plummet $15,000
Earnings for Middle East-Asia voyage tumble from over $35,000 to under $21,000 per day
- China Shipping Development warns that 2013 loss could hit $380m
China Shipping subsidiary announces provisions against expected future losses
- Star Bulk buys two post-panamax bulkers for $60m
Deutsche Bank provides secured credit facility for Japanese-owned vessels
- Beijing starts antitrust review of P3
Free to read: Alliance may not win competition clearance in China before second-quarter 2014
- ABS offers advice for sailing Russia's northern sea route
US class society expects interest in sailing the waterway to grow
- Navalia KG investors back sale to pool company
Fifteen tankers and bulkers will change hands
- Wärtsilä sheds 1,000 jobs despite pick-up in ship power business
UPDATE: New technology take-up slow as owners need convincing
- Four more Rickmers KG ships declared insolvent
Investors are $92m out of pocket
- Angola ships its first LPG cargo
New trade route develops as interest rises in LPG carriers
- Harnessing trade in the Year of the Horse
Intra-Asia shipments will grow despite capacity woes and political tensions
- Navios Maritime sees drop in 2013 revenue and earnings
US-listed company books $153.4m in ebitda down from $177m in 2012
- Marine insurance market heading for 18th consecutive year of loss
Overcapacity, not claims, is the root of the problem, says IUMI president
- Intertanko defends changes to West Africa piracy clauses
Vessels waiting in the Gulf of Guinea must still be on their normal, direct or intended route
- Panama Canal peace talks enter second day
Negotiators seek to resolve dispute over $1.6bn in project cost overruns
- Matson private placement raises $100m
Sale of secured notes announced in November is now closed
- Box market shows signs of improvement, says Braemar
But Asia-Europe overcapacity and volatile rates are set to continue, broker warns
- Scorship quits Scorpio Group
German shipmanager renamed as Mercator Navigation
- Costamare channels cash into growth
Boxship owner eyes newbuildings and the secondhand market
- Cosco signs $435m contract for five 9,400 teu newbuildings
Company appears to have agreed a 3%-5% premium over market price
|JANUARY 29, 2014|
- Europe wants a single maritime security standard
The European Commission wants a single standard for maritime security companies working on EU-flag ships
- Tax blow for Dar port owner
The owner of Tanzania's Port of Dar es Salaam is contesting a claim for nearly Sh3 billion ($1.85 million) in unpaid taxes
- Heidmar abruptly reverses course
Connecticut tanker pool manager Heidmar has named a new chief executive officer less than a week after unveiling its previous pick
- Star Bulk buys Post-Panamax duo
NASDAQ-listed Star Bulk is continuing its fleet expansion with the purchase of two Post-Panamax drybulk vessels for a total of $60M
- ITF condemns murder of dockers' leader's father
The International Transport Workers' Federation (ITF) has condemned the murder of the father of a Honduran dockers' leader, accusing the country's authorities of failing to heed requests to provide protection for the trade unionist and his family
|JANUARY 29, 2014|
- Blu Logistics Brings Rate Management In-House with CargoSphere System
Chapel Hill, North Carolina, January 29, 2014 - CargoSphere, the leading, cloud-based global rate management solution and confidential Rate Mesh network for the ocean and air transportation and logistics industries, today announces the completion of Blu Logistics' integration with CargoSphere's freight rate management solution. Blu Logistics, a global logistics company offering sea...
- U.S. Department of Transportation Provides $7 Million for Maritime Education
WASHINGTON - The U.S. Department of Transportation's Maritime Administration today announced that America's six state maritime academies - California Maritime Academy, Great Lakes Maritime Academy, Maine Maritime Academy, Massachusetts Maritime Academy, SUNY Maritime College, and Texas Maritime Academy - and the United States Merchant Marine Academy (USMMA) in Kings Point,...
- Swift Transportation Profit Plummets But Exceeds Lowered Expectations
Swift Transportation reported its net income in the fourth quarter of 2013 plummeted 17.2 percent year-over-year to $45.3 million, ending the year on a low note after double-digit profit gains in the first half of the year. Stifel Transportation & Logistics Research Group said that although Swift's earnings were down, the...
- US West Coast Labor Tensions Push Shippers to Look at Alternative Routes
VANCOUVER, British Columbia - Li & Fung Logistics is preparing alternatives to shipping through U.S. West Coast ports, as the unit of the global sourcing giant expects some type of International Longshoreman and Warehouse Union disruption tied to the negotiations for a contract to replace the current one that expires...
- Hub Group's 4Q Profit Slumped
Hub Group reported net income in the fourth quarter of 2013 was $16.5 million, down 12 percent from $18.8 million in the same period in 2012, ending the year in a slump after three quarters of growth. Hub Group's revenue mix in the fourth quarter of 2013. Full-size image However, total quarterly revenue...
- No Change for Drewry's Eastbound Trans-Pacific Rate
The Drewry benchmark rate for shipping from Hong Kong to Los Angeles stood at the same level for a third consecutive week, two days prior to an early Chinese New Year. Drewry Container Rate Benchmark, Jan. 29, 2014 Full-size image The rate remained at $2,086 per 40-foot container in the week of Jan....
- Anger Builds Among NY-NJ Port Drivers
Backed-up trucks at the Port of New York & New Jersey in July 2013.Fed up with chronic delays at container terminals, some truck drivers at the Port of New York and New Jersey are beginning to talk openly about parking their rigs and refusing assignments to the piers. "I would protest...
- Baltimore ILA Local Ordered to Pay $3.8 Million
A federal arbitrator has ordered an International Longshoremen's Association local in Baltimore to pay ocean carriers $3.8 million for an October strike that violated a no-strike clause in the ILA's coastwide master contract. Local 333 struck for three days in mid-October 2013 after a breakdown in local contract negotiations with the...
- Demand Rises for Industrial Real Estate in California's Inland Empire
California's Coachella ValleyThe industrial real estate market in Southern California's Inland Empire - the most sought-after location in the country for warehouses and distribution centers - is in near-perfect harmony right now. Demand for distribution space is strong, but not so strong that rents have reached unreasonable levels. Developers have access to affordable...
- KCS Sees Delay in Mexican Auto Shipment Growth
Kansas City Southern Railway expects a surge of business from three new Mexican auto plants will come later than originally anticipated, as the Nissan, Honda and Audi plants are slated to produce only half their full capacity this year. The plants are expected to produce about 300,000 units this year, compared...
- Obama's Tall Orders: Trade, Infrastructure, Trucks
WASHINGTON - President Obama plans to use his executive authority to fast-track infrastructure projects, promote trade and alternative fuels and develop fuel economy standards for heavy trucks, topics he touched on in a State of the Union address focused largely on the economy. At the same time, the president last night...
- Port of Mobile Remains Closed by Ice Storm
The Port of Mobile, Ala., will remain closed today, but several other marine terminals planned to resume normal service after closing yesterday because of an ice storm that hit southern states from Virginia to Texas. The Port of Houston resumed normal operations this morning. The Port of New Orleans planned to...
- US Intermodal Rates Drop as Midwest Freeze Continues
An index of 36 major U.S. intermodal lanes fell $93 from the week before to $2,014 in the week of Jan. 27, according to data on all-inclusive 53-foot door-to-door spot pricing quoted by railroads and provided by the 3PL IDS, erasing an $88 combined increase from the prior two weeks....
- TSA Members Call for Asia-US Rate Hike in March
Member carriers in the Transpacific Stabilization Agreement plan to increase Asia-U.S. rates by $300 per FEU, effective March 15, and are looking for a further May 1 increase separate from rate adjustments planned for 2014-15 contracts. Shanghai Containerized Freight Index, U.S. West Coast, week ending Jan. 24, 2014. Full-size image The TSA container...
- Carriers, Shippers Urged to Talk Driver Detention
Trucking companies and shippers should clearly spell out standards and penalties for driver detention when negotiating contracts - and stick to them - unless they want federal regulators to define driver detention time and penalties for them. Carriers should also include restrictions and penalties for excessive driver detention in their...
- Rules for Polar Shipping Advance
Estimated Asia-Europe transit times, Yokohama-Rotterdam, via the Northern Sea Route and via the Suez Canal.A legally binding rule book for all ships, from container vessels to oil tankers, sailing in Arctic and Antarctic waters, has moved closer after maritime officials agreed on a draft text for a so-called Polar Code. The...
|JANUARY 29, 2014|
- Navios nets period deal
Navios Maritime Holdings of Greece has secured a time charter contract for one of its capesize bulkers.
- ISC posts profit
International Shipholding Corp of the US remains committed to expansion following a profitable quarter, its chief executive told investors Wednesday.
- Nakilat refinances
Nakilat has refinanced two LNG carriers linked to Maran Nakilat, its joint venture with an affiliate of Greek shipping magnate John Angelicoussis.
- US joins Princess probe
US federal investigators have joined in an investigation over alleged pollution from a Princess Cruises vessel.
- Eletson acquires LR1s
Eletson Holdings of Greece has struck a deal to acquire three long-range-one (LR1) product tankers.
- CMA CGM storms Somalia
CMA CGM is launching a service that will link the Middle East to Somalia under a broader bid to expand its presence in Africa.
- Frank bags $7.5m payday
Carnival Corp has agreed to a $7.5m lump sum to long-time executive Howard Frank as part of his deal to step down from the cruise giant's chief operating officer job.
- Navios sights set on box sector
Angeliki Frangou expressed a preference for containerships in the acquisition strategy of New York-listed Navios Maritime Partners.
- Tallink agrees pay rises
Baltic ro-pax operator Tallink has agreed a pay deal with unions of at least 8.5%.
- CSDC scraps another 13
China Shipping Development Co (CSDC) is sending another 13 ships to breakers' yards this year.
- Heidmar makes U-turn
Heidmar has had a rethink on its new chief executive with Hans van der Zijde leaving the post he took over only five days ago.
- Scorpio fixes Mipo MR
New York-listed Scorpio Tankers has fixed out a new MR products carrier for four months fresh from the shipyard.
- Star enters new territory
Star Bulk has moved into the post-panamax market with the purchase of two vessels from Glocal Japan on leaseback deals.
- ZPMC eyes profit
China's Shanghai Zhenhua Heavy Industries (ZPMC) will return to profit in 2013.
- Navios whets appetite
Navios Maritime Partners has hinted at improved dividends despite a weaker fourth quarter showing which missed Wall Street projections.
- Catalogue of errors
A UK accident report has found a Greek cargoship crew tried to cover up its grounding after a series of mistakes in the North Sea.
- DNB backs DHT double
DHT Holdings has secured a $100m loan to fund its latest VLCC additions with one of its existing banks.
- Arctech wins finance
Russia's VTB Bank is guaranteeing EUR 123m ($168m) towards Archtech Helsinki Shipyard's icebreaker contract.
- CSDC heads into red
Chinese tanker and bulker owner warns 2013 deficit could be as much as $380m.
- Breaking the breakers?
Video footage has revealed the final journey of the Ostend Spirit ferry as it steams up the beach at a demolition yard in Turkey.
- Tugs secure drifting cargoship
Tugs have secured a cargoship that went adrift off Spain after it suffered a propeller malfunction in a storm.
- 'Good price' for Gulf Nav
Cash-strapped Dubai owner Gulf Navigation has confirmed the sale of two VLCCs to DHT Holdings of the US for a "good price."
- Dof eyes bond deal
Norway's Dof is planning to refinance debt with a bond issue in Oslo.
- Sue threat over sinking
The Philippines could take legal action against a shipowner whose vessel sank last week off Guimaras.
- Wartsila pushes up profit
Finnish ship power group Wartsila has announced higher profit for 2013 on the day it said it was axing 1,000 jobs.
- Wartsila axing 1,000 jobs
Finnish ship power group Wartsila is chopping 1,000 jobs in a bid to secure profitability.
- NADL prices IPO
North Atlantic Drilling Ltd (NADL) is set to raise a minimum of $125m in gross proceeds from its initial public offering in the US.
- StormGeo snaps up AWT
Norwegian-based StormGeo has agreed to acquire ship routing specialist Applied Weather Technology (AWT).
- Cosco bulker released
Cosco and Trafigura look to have settled their differences over the disputed charter of a panama bulker.
|JANUARY 29, 2014|
- Obama cites infrastructure, trade goals in State of Union speech
Obama repeated his call to reform the tax code by closing loopholes for corporations to keep profits overseas, create incentives for companies that create jobs at home, and use taxes from repatriated money to pay for infrastructure.
- Soybean producers fret over EPA's biodiesel levels
The trade association warned, if left unchanged, the Renewable Fuel Standard volume requirements would "significantly damage the nation's growing biodiesel industry and adversely impact soybean growers."
- Negotiations over Panama Canal rift continue
- Report: Police wanted eye in the sky to watch port
- Traders optimistic, but concerned about rising wages
The trade data firm Panjiva said a survey of 100 of its users found about two thirds of them optimistic or very optimistic about the economic outlook in 2014.
- December steel imports drop 3.5%
- MOL Q4 North American intermodal performance at 56%
- Cuba opens new container terminal in Mariel
- LSP to use CargoSphere for self-managed contracts and rates
- COSCO orders five 9,400-TEU container ships
It will pay $86.9 million for each ship for a total of $434.5 million. They are to be delivered in 2016 and 2017. COSCO also noted that on Dec. 30, it ordered four 64,000-dwt bulk carriers for $27 million each.
- Venezuelan LSP chooses Kewill platform
- Report: ILA Baltimore local fined
- Cargolux CEO search ongoing
- Hub reports 'solid year'
- Matson raises $100 million in note sale
|JANUARY 29, 2014|
- Vessels collide in Singapore
Some spillage of bunker fuel reported.
- Fujairah prices flat for third day
Demand was average and avails were tight.
- Mid-week prices firm across Europe
Congestion reported at Gibraltar.
- Amsterdam announces upgrade
Dutch port wants to capture more big ship traffic.
- Panama Canal impasse talks continue
Talks to resolve costs row enter second day.
- Wartsila in profit but jobs are to go
With sales down company announces efficiency drive.
- IFO movement mixed at Asian ports
Supplies of bunker fuels largely tight across major ports in Asia.
- LNG Bunkers: No clarity on pricing
'Without knowing the price, it's hard to make investment decisions.'
- Sinopec suspends bonded fuel oil deliveries to Yangpu
Suspension expected to last for whole of 2014.
- Sri Lanka supplier expands operations
Permanently positions the MT Lanka Marine Kelani at the port of Galle.
- Marine insurer warns of bunkering frauds
'A deal that looks too good, probably is,' says Skuld.
- The black sheep of the particulate family
Particulates come in many different guises. One variety has been singled out for particular attention at the IMO.