Dutch oil, chemicals and storage group Petroplus is one of the partners to launch an Internet-based portal and online exchange to transform the traditional Rhine-based shipping sector. Shippers, integrated barge owner companies, independent barge brokers and individual barge owners will have the opportunity to conduct business online through this portal, Petroplus said in a statement. The other founding shareholders of the project are BP Amoco, shipping and tank storage firm Royal Vopak and Germany's Marquard & Bahls AG which trades under the brand names Mabanaft and Oiltanking. The project is supported by the Rhine Barge Owners Association, Petroplus added. Management and technology consultancy Booz Allen & Hamilton will provide strategy and e-technology services to the venture. Petroplus said the portal would be a neutral market place, focusing on barge freight trading on the Rhine and associated waterways. It will be extended to provide content and services, including weather and information on Rhine levels and rates, pre and post fixture status updates, risk management, bunkering and maintenance and vetting checks. Petroplus said the Rhine transport market had an estimated size of $650 million per year for freight brokering transactions alone. An additional four billion euros is spent on services related to barge operations, it said.
Longtime industry veteran Joseph F. Daly passed away on April 2, 2005. He was 91 years old. Joseph F. Daly began his career in the transportation industry in 1947 when he joined F. W. Hartmann directly out of the armed forces. A veteran of the US Army, Daly enlisted at age 17 and returned from active duty with the rank of Captain after fighting in the Pacific during WWII. Daly later served as President of F. W. Hartmann, a major steamship agent and freight broker that represented Hansa Line
Asian Panamax freight rates for dry bulk cargo bounced back this week and shipping agents said a recovery would become more evident with the start of South American export seasons in March. "Chartering activity is much more active than last week and we saw a substantial number of fixtures this week," said an executive at a shipping firm which operates Panamax-class business. For the benchmark U.S. Gulf to Japan route, freight rates were quoted higher on Friday at $21.775 per ton against $21
Asian Panamax freight rates for dry bulk cargo market edged lower this week on slowing demand and brokers said on Friday a recovery was likely to come only in mid-March with the start of the South American export season. For the benchmark U.S. Gulf to Japan route, freight rates were quoted lower at US$21.42 per ton compared to $22.19 one week ago, while spot freight rates for the U.S. Pacific route were quoted at US$16.83 per ton, down from $17.28.
Atlantic Panamax earnings were given a brief respite from the steady erosion of freight rates that has dogged the sector for the past three weeks, shipbrokers said. Brokers felt that freight rates had hit rock bottom, giving Atlantic Panamax returns one last chance to surge before the end of the year. The Baltic Exchange reported that charterer GIC paid $20.85 for an unnamed vessel on the key U.S. Gulf to Japan grain route, which was above last done levels that reached $20
Descartes Systems Group (Nasdaq:DSGX) (TSX:DSG), a global on-demand software-as-a-service (SaaS) logistics solutions provider, has acquired the logistics business of privately-held Oceanwide Inc. in an all-cash transaction. Oceanwide's logistics business is focused on a web-based, hosted SaaS model suited for customs brokers and freight forwarders who choose to outsource rather than procure or manage traditional enterprise applications behind their own firewalls.
Panamax rates continued to weaken due to oversupply and limited cargoes on Monday, but owners were hopeful that the market was finding a floor, brokers said. The physical market remained in decline, but the forward freight agreement market was holding steady. Buying interest on the Biffex futures market on Friday had suggested a potential bounce this week, brokers said. Panamaxes struggled to find employment and charterers were still using their advantage to push rates lower.
The panamax market may see a boost from increased activity in the Atlantic and more business coming from South America, brokers said on Wednesday. Prospects for the market in the short term looked positive, despite a slow pace in freight rates, they also said. Modern panamaxes booked for delivery in the Atlantic in May, followed by a voyage to South America could fetch up to $11,500 a day or even more after negotiations.
Eastbound VLCC freight that nearly topped W200 in November is now firmly mired beneath W100. "The market's really lost its way, but much of that is just down to sentiment," said one London tanker broker. Wednesday's fixture lists showed a number of deals hovering around the W100 mark, and even the very modern New Circassia accepted W101 from Stasco for an eastbound trip. Friday's fixture list however, showed the slightly older Musashi Spirit had been fixed at W90 to Japan
Asian Panamax freight rates for dry bulk cargo in the Pacific market edged higher this week on the back of pre-Lunar New Year holiday grain purchases and persistent coal shipments, shipping agents said. But brokers said they expected freight rates to show signs of weakness next week as several Asian countries would be on holiday. "Chartering activity will slow down next week as many countries in the Asian region close for the Chinese New Year," said one domestic broker
The National Freight Advisory Committee yesterday unanimously approved a recommendation to pass legislation that will ensure that the Harbor Maintenance Tax is utilized for its intended purpose - to keep the nation's harbors and channels dredged and maintained at their maximum authorized depth for
Drewry’s analysis of ocean carriers’ latest financial results shows significant changes in cargo market shares, but how much of it is due to service differentiation is unclear. Ocean carriers’ third quarter financial results reported so far reveal that the largest
Hawaiian Ocean Transport (HOT) say it has strengthened its core management team by hiring Julian Velez as its new business development manager. The company inform that as the new development manager, julian Velez will bring new perspectives and extensive knowledge from his 7 years of experience
ITIC says that the failure of shipbrokers to follow up on time-sensitive messages can have serious financial consequences, particularly in fluctuating spot markets. In its latest Claims Review, ITIC cites the case of a ship fixed for a trip time charter for two voyages
Since 1995, Charleston Freight Station (CFS) has provided container freight station services for the Port of Charleston’s customers. For the last 17 years, they served in partnership with the U.S. Customs and Border Protection (CBP) as the designated Central Examination Station (CES) here
Softlink’s Cloud ERP platform Logi-Sys for freight industry now includes WIN connectivity, enabling users to communicate with other WIN-connected forwarders. Amit Maheshwari, CEO-Softlink, said, “WIN’s unique value proposition is connecting forwarding agents to their agent
The second Bloem Doze Nienhuis short sea study shows a cargo demand of around 1.8 billion tons between 2005 and 2012. In the same period the supply of the short sea fleet increases by 20%, from 38-47 million tons dwt. In 2005, the short sea industry witnessed a reasonable level of profitability
Container shipping costs have continued to rise, but the trend has not been uniform across all trades and Drewry is expecting rate levels to fall in the final months of the year. Pricing on Asia origin trades has been buoyed by peak season volumes
Global freight management company, Geodis Wilson, said it plans to continue growing its Middle East network and has announced the appointment of Sascha Geiken as new Cluster Managing Director for the Middle East region. Sascha Geiken joined Geodis Wilson in 2009 as Managing Director of Geodis
A/S Dan-Bunkering Ltd., is slowly expanding into a new area, the broker business, by setting up a small in-house broker department in the company’s head office in Middelfart, Denmark. This new initiative has been launched to support the requirements from a number of specific clients.
The Panel on 21st Century Freight Transportation published its final report on United States freight transportation, offering an assessment of its current condition with recommendations for strengthening nationwide infrastructure and U.S. economy.
Leading bunker and lubricant trading company, International Bunkering, has acquired Glander International, one of the oldest bunker brokering companies in the US. International say that this opportunity will be used to change the company’s name and to re-brand it in line with this expansion
Lea Bogatch-Genossar, ZIM's Americas, Canada and Caribbean Area President, has been named Person of the Year by the New York/ New Jersey Foreign Freight Forwarders and Brokers Association. Ms. Bogatch-Genossar will be honored at the 97th annual association dinner on January 22
Insurance broker and Maritime London member Willis believes that ro-pax ferries are bearing an unfair share of costs allocated to passenger ships within the International Group of P&I Clubs' reinsurance pool. The broker's head of global P&I, Ben Abraham
Port of New Orleans President and CEO Gary LaGrange will deliver the 27th Annual State of the Port address tomorrow at a luncheon at the New Orleans Marriott Convention Center. The speech is hosted by the International Freight Forwarders and Customs Brokers Association of New Orleans.