AGCT opens COSCO regional service in Rijeka

AJOT | March 19, 2015 | Liner Shipping

Adriatic Gate Container Terminal (AGCT), ICTSI's container handling facility in the Port of Rijeka, Croatia, recently launched COSCO's AGT when COSCO selected AGCT as the first port of call of the service. Read More »

UK freight forwarders welcome potential export boost and duty freeze

AJOT | March 19, 2015 | Transport Intermediaries

BIFA also welcomed the freeze in fuel duty with the increase planned for September this year not now going ahead. Read More »

Project milestone reached in construction of JAXPORT’s new rail facility

AJOT | March 19, 2015 | Ports & Terminals | Ports

The new road, located just east of the old Dames Point Road, allows drivers to bypass the commercial traffic entering and leaving the new rail facility. Read More »

Coming off the rails? Safety risks in crude by rail

Reuters | March 19, 2015 | Intermodal | Rail

Trains carrying oil or ethanol have derailed and caught fire at more than a dozen locations across the United States and Canada in the last five years. Read More »

Colonial allocates Cycle 17 shipments on two distillate lines

Reuters | March 19, 2015 | Energy | Pipeline

Colonial Pipeline is allocating space for Cycle 17 shipments on Line 2, its main distillate line, and Line 20, according to a notice sent to shippers on Thursday. Read More »

South Korea’s Harim group to expand bulk carrier Pan Ocean by trading grains

Reuters | March 19, 2015 | Breakbulk & Projects | Breakbulk

South Korea’s Harim Group aims to grow sales at the country’s largest bulk shipper Pan Ocean Co Ltd, which it plans to acquire, seven times to more than 10 trillion won ($8.97 billion) annually within five to six years. Read More »

Maersk gives terms for sale of Danske Bank stake

Reuters | March 19, 2015 | Liner Shipping

Danish shipping and oil company A. P. Moller-Maersk on Thursday published the terms under which it will sell its 20 percent stake in Denmark’s largest bank Danske Bank, a sale announced in February. Read More »

China buys 450,000 tons of high-protein wheat, more imports expected

Reuters | March 19, 2015 | Breakbulk & Projects | Breakbulk

Chinese buyers purchased around 450,000 tonnes of high protein wheat over the last few days, with more imports expected due to a domestic shortage of high quality grades, traders and industry sources said. Read More »

Dubai’s DP World posts 11.8% rise in 2014 profit, margins firm

Reuters | March 19, 2015 | Ports & Terminals | Ports

Dubai’s DP World posted an 11.8 percent rise in 2014 net profit as profit margins grew in all its regions, the company said on Thursday. Read More »

Asia Dry Bulk - No sign of improvement in capesize rates as owners lay-up ships

Reuters | March 19, 2015 | Breakbulk & Projects | Breakbulk

Rates for capesize bulk carriers, which have been close to six-year lows for the last two months, show little sign of improvement as a tonnage glut and scarcity of cargo continue to weigh on the market, brokers said. Read More »

Time running out for Greece, says Germany’s Schaeuble

Reuters | March 18, 2015 | International Trade

German Finance Minister Wolfgang Schaeuble said on Wednesday time was running out for Greece, which is trying to renegotiate the terms of its international bailout, and urged the government in Athens to focus on regaining competitiveness. Read More »

Brazil’s OSX says received trustee notification on unpaid debt

Reuters | March 18, 2015 | Energy | Maritime

Brazil’s bankrupt ship-leasing company OSX Brasil SA said on Wednesday it had been notified by Nordic Trustee that its subsidiary OSX 3 had failed to pay a debt of $560.1 million on time. Read More »

Brazil securities regulator fines tycoon Batista $432,000

Reuters | March 18, 2015 | International Trade

Brazil’s securities regulator fined former billionaire Eike Batista 1.4 million reais ($432,000) for failing to promptly let investors know about a takeover and the delisting of parts of his once-giant EBX energy, mining, port and shipbuilding group. Read More »

Brazil watchdog fines tycoon Batista for failure to inform market

Reuters | March 18, 2015 | International Trade

Brazil’s securities regulator CVM said on Wednesday that former billionaire Eike Batista failed to provide investors with timely information about a takeover and on the delisting of companies as his EBX energy, mining, port and shipbuilding empire tottered and then collapsed. Read More »

Brazil fines tycoon Batista for not informing market on CCX action

Reuters | March 18, 2015 | International Trade

Brazil’s securities regulator CVM fined Brazilian tycoon Eike Batista 300,000 reais ($93,000) on Wednesday for failing to keep investors informed about a possible delisting of coal mining company CCX Carvão da Colombia. Read More »

FedEx 3rd-qtr profit jumps, outlook lags market view

Reuters | March 18, 2015 | Transport Intermediaries

Package delivery company FedEx Corp reported a better-than-expected quarterly net profit on Wednesday but forecast full-year earnings would be below analysts’ estimates due to lackluster global economic growth. Read More »

Largest vessel ever calls on Savannah

AJOT | March 18, 2015 | Liner Shipping | Ports & Terminals | Ports | Container Port

The ZIM vessel Tianjin transits the Savannah River channel on March 18. At a capacity of 10,062 twenty-foot equivalent container units, the Tianjin is the largest ship ever to call on the Port of Savannah. Read More »

Konecranes wins order for nine more RTGs from Port of Houston Authority

AJOT | March 18, 2015 | Ports & Terminals | Ports | Container Port

In February 2015, Konecranes received an order from the Port of Houston Authority (Port Authority) in the U.S. for nine Rubber Tired Gantry (RTG) cranes. Read More »

Port and Free Zone World says completes $1.1 bln loan

Reuters | March 18, 2015 | Ports & Terminals

Port and Free Zone World (PFZW), the majority owner of listed Dubai-based ports operator DP World, has completed a deal to borrow $1.1 billion, a company spokesman said on Wednesday. Read More »

ICTSI chairman visits Basra Gateway Terminal

AJOT | March 18, 2015 | Ports & Terminals | Ports | Container Port

Enrique K. Razon Jr., International Container Terminal Services Inc.(ICTSI) chairman and president, recently visited Basra Gateway Terminal (BGT), ICTSI’s subsidiary in the port of Umm Qasr, Iraq. Read More »