Commodities shipping crisis adds to loan woes for Greek banks

Reuters | February 26, 2015 | International Trade

The global slump in demand for dry freight commodities is adding more pain to Greece’s already crisis-hit banks by heaping pressure on many of their shipowner clients, particularly the smaller companies. Read More »

CII Seeks 2015 Connie Award Nominations

AJOT | February 26, 2015 | Intermodal

Deadline for nominations is May 1st, 2015. Nominations are also being sought for the Connie luncheon on December 7th, 2015 in Newark, NJ, with a deadline for nominations by August 1st, 2015. Read More »

Port Everglades welcomes SC Line’s Caroline Russ RoRo ship

AJOT | February 26, 2015 | Ports & Terminals | Ports | RoRo Port

Ocean RoRo carrier SC Line consolidates and reaffirms its USA SERVICE commitment from Broward County’s Port Everglades to Mexico, Panama, Colombia, and the Caribbean with the arrival of its new Roll On / Roll Off cargo ship, M/V Caroline Russ, to the South Florida seaport. Read More »

Some Brazil truckers end strike, but many roads still blocked

Reuters | February 26, 2015 | Ports & Terminals | Ports

Some Brazilian truckers agreed to end a nine-day strike that has crippled supply chains across much of the country, though many roadways remained blocked on Thursday as others pressed to hold out for more concessions from the government. Read More »

Greek banks mull cutting shipping portfolios to raise capital

Reuters | February 26, 2015 | International Trade

Greece’s leading banks are considering offloading part of their portfolios of shipping debt worth billions of dollars in a bid to shore up their capital, according to banking and ship financing sources. Read More »

Top oil drillers face years of pain, get a grip on cost

Reuters | February 26, 2015 | Energy | Discovery

The world’s biggest offshore drillers reported plunging earnings and orders on Thursday but managed to get a grip on costs to improve their chances of riding out a sectoral crisis that could last several more years. Read More »

Norway’s Frontline benefits from oil supply glut

Reuters | February 26, 2015 | Energy | Maritime

Operating profit at Norwegian tanker firm Frontline beat forecasts and the company said it expected earnings to improve further this year, benefiting from an oil glut that has pushed down prices of the commodity. Read More »

India to raise some freight rates from April 1st

Reuters | February 26, 2015 | Liner Shipping

India will increase some freight rates in the 2015/16 fiscal year that begins in April, the government said on Thursday. Read More »

Asia Dry Bulk-Capesize rates could improve but tonnage glut weighs on market

Reuters | February 26, 2015 | Breakbulk & Projects | Breakbulk

Rates for capesize bulk carriers, which are close to six-year lows, could show only slight improvement next week as the glut of available tonnage may outweigh any uptick in chartering after the end of the Lunar New Year holiday in China, brokers said. Read More »

North Korea shipping firm skirts sanctions by renaming ships

Reuters | February 25, 2015 | Liner Shipping

A U.N.-blacklisted North Korean shipping company has renamed most of its vessels in a bid to disguise their origin and continues its illicit shipments in violation of United Nations sanctions, according to a U.N. experts report seen by Reuters on Wednesday. Read More »

Brazil government extends offer to truckers to end strike

Reuters | February 25, 2015 | Ports & Terminals | Ports

The Brazilian government told truckers and transport companies late Wednesday it would extend a year of free financing for vehicles and pass a law that would benefit the sector if protesters ended a crippling strike now in its eighth day. Read More »

Canada’s new rules could cost railways that cause forest fires

Reuters | February 25, 2015 | Intermodal | Rail

Canada’s new rail safety legislation would make it possible for governments to recover costs from railways for any fire they cause, not just accidents that involve crude oil, said Transport Canada, a change that could force railways to pay millions in costs associated with forest fires. Read More »

Two industry veterans join Port of Long Beach management

AJOT | February 25, 2015 | Ports & Terminals

The Long Beach Board of Harbor Commissioners this week appointed port industry veterans Michael Christensen and Glenn Farren to newly created management positions to enhance cargo flow and service at the Port of Long Beach. Read More »

TSA Lines recommend April GRI to help address ongoing costs

AJOT | February 25, 2015 | Liner Shipping

Container shipping lines have begun the slow work of repairing their networks as U.S. West Coast congestion difficulties ease. Read More »

CN says Teamsters-represented rail traffic controllers in Canada ratify new collective agreement

AJOT | February 25, 2015 | Intermodal | Rail

CN announced that members of the Teamsters Canada Rail Conference-Rail Canada Traffic Controllers union have ratified a new labour agreement. The four-year agreement covers approximately 180 rail traffic controllers in Canada. Read More »

Permian pipeline issues cut capacity nearly 40 percent

Reuters | February 25, 2015 | Energy | Pipeline

Pipeline takeaway capacity from the Permian Basin looked to be reduced by nearly 40 percent after two of the largest pipelines in the region had reported problems, with one taken offline after a leak was found early Wednesday morning. Read More »

Mexico says Pacific trade meeting in April, fast track slips

Reuters | February 25, 2015 | International Trade

A meeting aimed at sealing a Pacific trade deal has been called for April, Mexico's economy minister said, adding he was hopeful it would be finalized in the next few months. Read More »

Friction over India’s beef trade heats up after attacks

Reuters | February 25, 2015 | International Trade

Hindu nationalists in India have stepped up attacks on the country's beef industry, seizing trucks with cattle bound for abattoirs and blockading meat processing plants in a bid to halt the trade in the world's second-biggest exporter. Read More »

Konecranes to deliver 10 more RTGS to GPA

AJOT | February 25, 2015 | Ports & Terminals

Konecranes will deliver 10 all-electric Rubber Tired Gantry (RTG) cranes to Georgia Ports Authority. Read More »

New FPS LCL service cuts 11 days for Rotterdam-St. Petersburg traffic

AJOT | February 25, 2015 | Transport Intermediaries

FPS Famous Pacific Shipping BV – a Rotterdam-based neutral consolidator - has launched a new, weekly ocean LCL service from Rotterdam to St. Petersburg and vice versa for general groupage cargo. Read More »