NOL says Q4 net profit $177 mlllion

AJOT | February 17, 2011 | Liner Shipping

Neptune Orient Lines (NOL) , the world's seventh largest container shipping firm, reported on Wednesday better-than-expected fourth-quarter net profit, reversing from a loss the previous year as freight rates and cargo volumes soared. Read More »

Baltic ship screen plans moving too slowly

AJOT | February 13, 2011 | Breakbulk & Projects

The Baltic Exchange's plan for a central trading screen for dry bulk freight derivatives is moving too slowly and concerns are growing that rivals may look to launch their own, freight futures users said. The Baltic Exchange said in May last year it had a Read More »

Dahlman Rose downgrades several dry bulk shippers

AJOT | February 13, 2011 | Breakbulk & Projects

Dahlman Rose downgraded several dry bulk shippers, and said the market has been under intense pressure during the past few months, which is likely to weigh on ship values.

The brokerage cut Eagle Bulk , Excel Maritime , and Freeseas to "hold" from "bu Read More »

Dockwise selects Hyundai as yard for its new

AJOT | February 13, 2011 | Breakbulk & Projects

Following the Board's decision to commission a new build vessel to service the emerging market for ultra-large transports, Dockwise has appointed Hyundai Heavy Industries (HHI) of Korea as its ship building yard. HHI is scheduled to deliver the vessel dur Read More »

GE Shipping unit drops plans for an IPO

AJOT | February 13, 2011 | Breakbulk & Projects

India's Great Eastern Shipping Co Ltd said its unit Greatship (India) Ltd (GIL) has dropped plans for an initial public offering of shares citing bad market conditions.

In May last year, sources had told Reuters, the offshore services provider was pla Read More »

Small ships to unlock rate boon for bulk owners

AJOT | February 13, 2011 | Breakbulk & Projects

Dry cargo shippers with smaller vessels are shifting to more-risk, more-reward spot markets, eyeing rising demand for sugar and grains -- commodities well suited to versatile supramax and handysize ships.

Ship owners generally prefer long-term charter Read More »

Wilhelmsen Ships Service expands US ports services with Jo Tankers

AJOT | February 13, 2011 | Breakbulk & Projects

A new contract to supply ships services to one of the world's largest chemical transportation fleets, Jo Tankers, has strengthened Wilhelmsen Ships Service's port coverage for the customer in the USA. Wilhelmsen Ships Service (WSS) has been contracted to Read More »

WWL earns recognition as John Deere ‘Partner-level Supplier ’

AJOT | February 13, 2011 | Breakbulk & Projects

Wallenius Wilhelmsen Logistics (WWL) has earned recognition as a Partner-level supplier for 2010 in the John Deere Achieving Excellence Program. The Partner-level status is Deere & Company's highest supplier rating. The Norway-based company was selected f Read More »

Bromma wins major ports spreader contracts for Columbia, Brazil and Kuwait

AJOT | February 13, 2011 | Ports & Terminals

Bromma has been awarded contracts for a total of 62 new spreaders for three port projects in Colombia, Brasil and Kuwait.

In Colombia Bromma has won a new contract for 29 crane spreaders (5 quay crane spreaders and 24 all-electric RTG spreaders) for Read More »

Bromma wins major Greenline™ orders for Terminal Catalunya, Spain and Abu Dhabi, UAE

AJOT | February 13, 2011 | Ports & Terminals

Bromma has been awarded two major new contracts for the supply of all-electric spreaders for use on automated stacking cranes. Bromma has won an order for a total of 40 GreenLine™ all-electric yard crane spreaders for the new Terminal Catalunya S.A. (TERC Read More »

Colombia plans to rule on 29 port projects in 2011

AJOT | February 13, 2011 | Ports & Terminals

Colombia plans to decide on the approval of nearly 30 port projects mainly in coal, bulk loading and petroleum this year, the government concessions' agency said in a financial newspaper published.

Latin America's No. 4 oil producer has set ambitious Read More »

Port of Gulfport cargo figures rebound in 2010

AJOT | February 13, 2011 | Ports & Terminals

The slowdown in the global economy in the previous two years has had a tremendous negative impact on the maritime industry around the world. Despite the challenges the Mississippi State Port Authority at Gulfport handled over 2.15 million tons of cargo i Read More »

ICTSI Subic welcomes new line

AJOT | February 13, 2011 | Ports & Terminals

Greek shipping line, Tiger Lines, will start calling at the New Container Terminal-1 (NCT-1) at the Subic Bay Freeport in the Philippines starting the second quarter of this year.

Tiger Lines will deploy a 750-TEU to 1,000-TEU capacity vessel for its Read More »

Nadler reintroduces Clean Ports Act Congressman

AJOT | February 13, 2011 | Ports & Terminals

Jerrold Nadler (D-NY), a senior Member of the House Transportation and Infrastructure Committee, introduced the Clean Ports Act of 2011. The bill, which has 50 original co-sponsors, would amend the Federal Motor Carrier Act to allow ports t Read More »

Port of Philadelphia’s 2010 cargo statistics show big gains over previous year

AJOT | February 13, 2011 | Ports & Terminals

A recovering national economy, in conjunction with a variety of new business relationships established at the Port of Philadelphia in 2010, has resulted in a sizable gain in overall tonnage last year compared to 2009 levels. With 3,644,919 metric tons of Read More »

The Port of Everett is working to bring job opportunities to the region

AJOT | February 13, 2011 | Ports & Terminals

Snohomish County Executive Aaron Reardon announced that Evergreen Bottling Company would be bringing a new water bottling plant to Everett, with specific interest in the Port’s Riverside Business Park. It is expected the company would generate up to 15 mi Read More »

Port of Hamburg leaves the worldwide financial and economic crisis of 2010 in its

AJOT | February 13, 2011 | Ports & Terminals

In 2010 the Port of Hamburg returned to its growth course with total throughput of 121 million tons. Alongside the gratifying progress of the German economy, the markets in the Baltic region and in Eastern Europe that are so important for the Port of Hamb Read More »

Port of Portland records third best tonnage year in 2010

AJOT | February 13, 2011 | Ports & Terminals

According to recently released year-end results, 2010 was the third best tonnage year for marine cargo in the Port’s history – totaling over 13.1 million tons.

The Port closed a number of key transactions last year and reported positive gains in every Read More »

Timchenko to buy Murmansk port for $250 mlllion

AJOT | February 13, 2011 | Ports & Terminals

Russian trader Gennady Timchenko has agreed to buy Murmansk Commercial Sea Port for $250 million, extending his interests in Russian energy exports, industry sources told Reuters.

"The deal is expected to be closed in the first quarter," one of the so Read More »

ATA seeks truckstop support for driver grassroots campaign

AJOT | February 13, 2011 | Intermodal

As part of its effort to contest the Federal Motor Carrier Safety Administration's (FMCSA) Dec. 23 proposal to change the hours-of-service (HOS) requirements for commercial truck drivers, the American Trucking Associations (ATA) is seeking help from truck Read More »