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Pirates Seize German Ship off Kenya

According to a report from Xinhua, a German freight ship was seized on the morning of Oct. 24 by pirates off the coast of Kenya, a spokesman for the German army said. The spokesman said pirates attacked and captured the ship about 1,930 km east of the Kenyan city of Mombasa. The ship belongs to German shipping company Beluga-Reederei, but it was not immediately known how many people were on board, said German media reports. (Source: Xinhua)  


SHINEC Builds Interiors for RAON

The Shipbuilding Joint Stock Company (SHINEC) has won a $200,000 contract to build the interiors for five ships owned by the RAON group of the Czech Republic. The work, covering wooden wall and floor planks, furniture, cupboards and lounge bars, is expected to last through the end of the year. The conversion of five ships owned by RAON into luxurious “floating hotels” is part of the largest-ever ship engineering project by the Republic of Czech


Coast Guard Forces Begin Journey Home

United States Coast Guard forces assigned to the Mediterranean region departed Rota, Spain Thursday on their trans-Atlantic journey home following their efforts as part of Operation Enduring Freedom. The 378-ft. Coast Guard Cutter Dallas, homeported in Charleston, S.C., and four patrol boats; the CGCs Pea Island and Knight Island homeported in St. Petersburg, Fla.; the CGC Bainbridge Island homeported in Sandy Hook, N.J. and the CGC Grand Isle from Gloucester, Mass


USCG Detains Foreign Freight Vessel Again

USCG inspectors in Dutch Harbor detained 281-ft. freight ship Jacha for the third time since Aug. 1998 due to Safety of Life At Sea violations (SOLAS). Inspectors found seven discrepancies aboard 14-year-old Jacha, including fire doors that didn't close properly, an incompetent fire drill and water leaks on the vessel's main engine. Due to Jacha's history of safety discrepancies, this time, it is not permitted to conduct any cargo operations


Ports of Indiana Announces New Strategic Initiatives

The Ports of Indiana today announced new key initiatives to expand its economic development role. After a year-long strategic planning process involving in-depth research and interviews with industry stakeholders, the organization made the decision to expand its current role and aggressively grow its core business. The Ports of Indiana's new initiatives include spearheading the evaluation of an inland intermodal rail port in Indiana and pursuing increased development financing authority.


Shipping Execs Agree to Plead Guilty

The U.S. Department of Justice announced that four individuals have agreed to plead guilty for their involvement in a conspiracy to eliminate competition and raise prices for moving freight between the Continental U.S. and . A fifth shipping executive has agreed to plead guilty to destroying evidence of the shipping conspiracy. The five executives charged  work for large companies that provide freight shipping services to customers transporting goods between the continental and


Coast Guard Should Rethink Salvage and Firefighting Proposal, AWO Says

The Coast Guard's May 10 proposal to add costly and prescriptive salvage and firefighting provisions to its tank vessel response plan regulations should be overhauled in favor of a simpler and more practical approach, AWO testified at a July 17 public meeting in Philadelphia, Pa. Jennifer Carpenter, AWO Senior Vice President-Government Affairs and Policy Analysis, summarized AWO's major concerns regarding the proposal:


Dubai Maritime City Authority Supports Environmental Efforts

The United Arabs Emirates Shipping Association, a representative body for UAE-based commercial shipping, is supporting the efforts of the UN, IMO, and UAE Ministry of Environment and Water and DMCA in advocating for a global and open verifiable emissions trading program. One of the challenges that face the marine industry is reconciling their global reach with local expectations.  As of the last IMO Marine Environmental Protection Committee (MEPC) meeting there is no globally accepted or


World Container Index (WCI) to launch in September

Drewry Shipping Consultants and The Cleartrade Exchange announced that the World Container Index (WCI), the first Europe-based assessment of container freight rates and index production, is scheduled for launch in September 2011. The index will be designed to provide a new and important facility for the global market to hedge their freight rate risk and see major improvements in forward price discovery through the container derivatives market.


Improving U.S. Freight Transportation System

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. The panel, led by its Chairman, U.S. Rep John J. Duncan, Jr. (R-TN) and Ranking Member Jerrold Nadler (D-N.Y.), was founded by Full Committee Chairman Bill Shuster (R-Pa.) and Ranking Member Nick J. Rahall, II (D-W.Va.) in April 2013 to examine U.S


Auckland Port Led JV to Develop Inland Port

Ports of Auckland, Napier Port and Icepak today announced the formation of a joint-venture to develop a new inland port and intermodal freight hub at Longburn, Palmerston North and to target Growth in Manawatu-Whanganui Region. Located on the site of the old Longburn freezing works owned by


Transpacific Container Shippers Aim for Rate Rise

Photo: Maersk

A container shipping organisation urged companies on Monday to raise Asia-U.S. freight rates by at least $600 per 40-foot container (FEU), corresponding to an increase of 14.2 percent from current levels, from Sept. 1. TSA (Transpacific Stabilization Agreement) said the planned increase follows


Russian Food Import Ban: Trucks Lose, Shipping Wins

Photo: Hapag-Lloyd

Team Niinivirta, a Finnish family-run transportation firm, turned 60 this year, but its third-generation managers now don't know if the business will see Christmas, because of Russia's new ban on European food imports. The firm based in Kotka, on the Gulf of Finland opposite Saint Petersburg


CEVA Expands Presence in Los Angeles Market

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  CEVA Logistics, one of the world’s leading supply chain management companies, today announced the expansion of its Los Angeles (LAX)/Torrance freight management operation.  One of the largest operations in CEVA’s global network


Asia VLCC Rates Could Nudge Higher on Activity

Rates for very large crude carriers (VLCCs) on key Asian freight routes could hold steady or gain next week as charterers seek to complete their vessel chartering programme for the first 20 days of August, brokers said on Friday. The pause would come after charter rates from the Middle East to


Egypt Buys 175,000mt of Russian Wheat

Egypt's state grain buyer, the General Authority for Supply Commodities (GASC), said on Wednesday it had bought 175,000 metric tons of Russian wheat for shipment Sept. 11-20. Mamdouh Abdel Fattah, the vice-chairman of GASC, gave the following breakdown of the purchase:


Asia Dry Bulk Capesize Rates Stay Flat

Bulk carrier anon: File photo

Rates for capesize bulk carriers on key Asian routes are set to remain in the doldrums next week, staying flat or gaining just a few cents as an oversupply of ships weighs on cargo availability, ship brokers said. But there could be brighter prospects in the coming weeks on rates for voyages from


Asia-N.Europe Container Freight Rates Jump 21%

Photo: Maersk

Shipping freight rates for transporting containers from ports in Asia to Northern Europe jumped 21 percent to $1,455 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


Newport Shipping Upbeat on Dry Bulk Segment

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Freight rates are set to rise across all dry bulk carrier segments as the global economic recovery gains momentum, ending the sector’s most bearish run since the start of the economic crisis in 2008/2009. According to the latest edition of Newport Shipping’s Dry Bulk Market Outlook


Hapag-Lloyd Operating Profit Down on Lower Freight Rates

Containership loading: Photo Hapag-Lloyd

Germany's Hapag-Lloyd's said it expected operating profit to drop considerably this year after tough competition in container shipping dragged freight rates lower in the second quarter. The company, partly owned by TUI AG, posted a second-quarter operating loss of 73.7 million euros ($98


Major Drybulk Ship Operator Lowers 2014 Expectations

Bulk carrier: File photo

Danish shipping company D/S Norden, one of the biggest dry bulk shipping companies in the world, said it would not make a profit this year after posting a loss in the second quarter due to low freight rates and falling demand in Asia. The firm's loss before interest, tax


BIMCO: Peak Container Season Starts Strong

Peter Sand, BIMCO Chief Shipping Analyst

Container Shipping: The peak season is off to a good start and the balancing act in the freight market is as important as ever Demand The demand side continues to improve on a global scale. The winter weakness in the US and still-sluggish demand in Europe has been offset by continued strong


Asia-Europe Container Rates Fall Almost 11 pct

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Shipping freight rates for transporting containers from ports in Asia to Northern Europe fell by 10.7 percent to $1,198 per 20-foot container (TEU) in the week ended on Friday, a source with access to data from the Shanghai Containerized Freight Index told Reuters.


BIMCO: Bulk Market Awaits Freight Rates Lift

Photo courtesy of BIMCO

Dry Bulk Shipping: All eyes on Brazilian iron ore exports, as we await the long-anticipated lift in freight rates. Demand The freight market, which performed so well in Q1, has certainly not delivered in the past four months. BDI has dropped from 1,621 on March 20 to hit 747 on July 29


BIMCO: Tanker Market is Full of Surprises

Photo courtesy of BIMCO

Tanker Shipping: Crude oil tankers out-perform their oil product peers in a market full of surprises Demand Some time ago, BIMCO expected the first signs of a solid recovery in the oil tanker industry to appear in the product tanker market






 
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