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| NOVEMBER 4, 2005 |
Shipping News
- Lines uncertain if China freight boom will last
FOR global shipping lines, China was a dream come true.
- US inter-modal delays hit one week: TSA
TRANS-Pacific container carriers including Neptune Orient Lines' APL say US inter-modal delays have reached a week as the current peak season hits its apex.
- China's biggest coal port to expand
QINHUANGDAO Port Group, which manages China's largest coal port, said it will expand capacity 45 per cent by the first quarter to meet increasing energy demand.
Admiralty Casebook
- Uncertainty inherent in a charter's war clause: court
THE Court of Appeal in England last month upheld a decision of a lower court that a charterer only had to pay damages from the time it terminated a charter until the outbreak of the Iraq war and not the full remaining period of the charter.
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| NOVEMBER 4, 2005 |
- Congestion in W Africa ports pushes up surcharge
- "K" Line sells Rokko Island property
- Hanjin opens sales office in Wenzhou
- Investors give billions to develop Yangkou's port zone
- VLS launches weekly service to Genoa
- P&O sells cold logistics unit
- Exel wins logistics deal with Makro in the Philippines
- Sinotrans launches first Xiamen-Manila direct service
- Northwest Airlines reports Q3 loss
- GIA selects new GSA
- UA names new US VP
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| NOVEMBER 4, 2005 |
- Chowgule nets Rs 4,800-cr. overseas orders to build 12 cargo vessels
- Report casualties at sea within 48 hours-DGS
- SCI inks deals with Daewoo for 2 VLCCs
- Breather for exporters extended
- RBI extends lower interest rates on export credit till April 30, 2006
- JNPCT sets new single-month benchmark in container throughput
- CoPT seeks sales tax exemption for proposed bunkering terminal at Puthuvypeen
- Paradip Port under the weather
- Deadline for submitting EoIs extended to Nov. 30
- IPBCC announces rate restoration with effect from Dec. 1
- DP World sends out feelers for P&O acquisition
- Airlines set to create more capacity for cargo soon
- Kakinada CHAA office-bearers
- Talks on India-EU maritime, civil aviation pacts to begin early next year
- Powerlooms, composite mills rivalry ends with differential tax abolition
- CBEC revises tariff values of palm oil, reduces soyabean oil duty
- India, Mauritius sign pact to boost seafood trade
- MoU a precursor to PTA
- SEZ rules finalisation delayed
- Govt seeks SC ruling on FBT validity
- E&Y files report on tri-nation gas pipeline project feasibility
- Patents for trademarks being expedited
- Poultry exporters ‘counting chickens before they hatch’!
- Trade data may be shared by customs officials at WTO
- Ficci wants 10-year tax holiday for infrastructure projects
- G.K. Granites bags Capexil export award
- Tax treaty with Japan to be revised
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| NOVEMBER 3, 2005 |
- New NYK Logistics human resources director
- NOL reports demand-driven growth in Q3/2005
- SAS Cargo takes over cargo capacity from Sterling
- TransForce completes strategic acquisitions
- Japan Post and TNT join forces
- Hungary increasing motorway toll in 2006
- Qualcomm's electronic on-board recording application available
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| NOVEMBER 3, 2005 |
- ITF wins appeal in Rosella case
- Quality standards discussed at Tripartite talks
- ICTSI spending over US30m on Toamasina
- ABS and Russian Register in new deal
- Hoverspeed’s Dover closure prompts union anger
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- Sea Containers plans drastic ferries restructuring
- Wartsila power for world's largest drillship
- Aker American reports profit
- Diesel electric power for heavy lift conversions
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- The Greenbrier Companies posts solid quarterly totals
- Horizon Lines releases third quarter numbers
- Corps closing Ballard locks for annual maintenance
- NCL announces delivery date of new PRIDE OF HAWAII
- Crowley's South Florida unit returns to normal operations
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- Teekay LNG in $180m deal for double-hull suexmaxes
TEEKAY LNG Partners is to acquire three modern double-hulled suezmax tankers, together with their related long-term charters, from its parent for $180m.
- We are not for sale, insists Eletson
BLUE chip product tanker operator Eletson has declared that it is not for sale as it responded to being at the centre of furious takeover speculation this week.
- General Maritime ready to offload remaining single-hulled tanker fleet
GENERAL Maritime is poised to become an entirely double-hulled tanker company, pending official confirmation of the disposal of seven aframaxes
- Clarksons and Plowright set for merger
CLARKSONS and J O Plowright (Holdings) announced last night that they are in discussions with a view to merging their operations, Reuters reports .
- Erck Rickmers’ boxship in full bloom
SHIPMANAGER ER Schiffahrt has named a further newbuilding at South Korea’s Hyundai Mipo yard, bringing the operating fleet to 59 boxships with a total capacity of 242,000 teu, writes Katrin Berkenkopf in Cologne.
- Thoresen Thai targets fleet renewal
THORESEN Thai Agencies is budgeting $100m over the next year for its continued fleet renewal programme and is looking to diversify.
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| NOVEMBER 3, 2005 |
- Maritrans navigates refinery disruptions
- Tensions rise over border change
- Unifeeder hikes rates
- Teekay sells to LNG spinoff
- OSG sees strong storm impact
- Viking to continue cutting costs
- Migrant tragedy: Cubans plead guilty
- Rising demand for project cargo
- US invests to speed grain flow
- Mozambique cancels rail concession
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| NOVEMBER 3, 2005 |
- U.S. proposing global shipping database for supply-chain security
- PierPass pauses for union stop-work meeting
- Bonner praises trade partnership
- Crowley resumes S. Fla. operations
- Mobile upgrades channel draft
- Ceres appoints U.S. managers
- CMA CGM to upgrade Asia-Med service
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| NOVEMBER 3, 2005 |
- Toll ready to pounce on P&O if Patrick bid falters
Aggressive Toll Holdings has announced it will approach any P&O buyer with a view to acquiring the company’s Australian assets should Toll’s own current takeover for Patrick Corporation fail.
- Russia's double trouble a commercial opportunity
- Customs claims new Australian clearance system now coping
- North Korean rail links move a step closer
- DP World set to develop Turkish facility
- Korea/Japan consortium selected for Busan hinterland
- Masan to construct four box berths
- Port of Montreal box traffic steaming to another record
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| NOVEMBER 3, 2005 |
- Ice smart owners?
Describing Greeks investing big dollars in Arctic trading as “ice class tourists” is highly inappropriate says Vasilis Bacolitsas.
- Jinhui books bulker
Hong Kong and Oslo-listed owner orders handymax unit at Japan’s Oshima for mid-2007 delivery.
- Costs hurt Hanjin
High bunker costs plus the weakness of the US dollar cut operating income at South Korean owner.
- Teekay waives US flag
Vancouver owner lands first shuttle contract in US Gulf, apparently serving BP in Jones Act waiver tied to Katrina damage.
- Clarke inks Shamrock finance
Canadian transportation firm arranges $11.5m in ship financing for boxship acquired at auction.
- Not yet
OSG's Arntzen tells analysts he's not ready to jump into the shares buybacks now in favour with his tanker peers.
- Clarksons talking with Plowright
Acquisition of London brokerage would boost petrochemicals and products expertise.
- Wilson banks a profit
Bergen-based bulker owner trounces last year’s nine-month result.
- Solvang lifts earnings
Norwegian owner’s three sizes of gas carrier all produce better results in first nine months. .
- Shell game
OSG locks up two Philly newbuildings with Shell, with similar BP deal expected to come final shortly.
- Record profit for OSG
Third quarter net income climbs 5% despite weaker VLCC and aframax charter rates.
- Fredriksen enters Arcadia
Tanker king flashes more cash as he snaps up Mitsui’s oil trading arm.
- ITF wins Viking appeal
Court overturns injunction, saying unions’ right to act must be decided by European Court of Justice.
- Horizon back on track
US liner company returns to profit in first nine months, with third quarter earnings soaring.
- Torgelow found
Kenyan owner Motaku Shipping hopes cargoship hijacked by Somali pirates will soon be released.
- Aker American back in profit
Owner of Kvaerner Philadelphia shipyard claws back some of last year’s losses in first three quarters.
- NGH .. way to go on gas?
Japanese players are moving ahead with yet another form of gas transport and hope to see the first cargo shipped by 2010.
- Cargoship under tow off UK
Tug bringing powerless Cambodian vessel into Falmouth after it drifted towards Cornwall coast.
- Genco raises dividend
Genco Shipping & Trading is upping its dividend based on a strong quarter and its anticipated earnings from a new acquisition.
- Forbes plugs Maritrans
Tanker operator Maritrans is basking in the glow of good press and reporting its strongest numbers ever.
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| NOVEMBER 3, 2005 |
- Horizon Lines counts cost of IPO as profits drop 72%
- Expeditors posts double-digit 3rd quarter increase
- U.S. truckers question antiterror basis of fingerprinting
- USDA takes additional steps to ease grain transport on Mississippi River
- Ryder names VP of marketing, fleet management
- U.S. Chamber urges further reforms at Summit of the Americas
- ITC maintains antidumping duty orders for Indian and Thai shrimp
- Vanguard expands in Asia and Europe
- ILWU calls stop-work meeting in Los Angeles-Long Beach
- Ore imports delay ships in Chinese ports
- Port of L.A. delegation, Chinese officials to discuss air quality
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| NOVEMBER 3, 2005 |
- Broström issues bond
Göteborg-based tanker operator Broström has for the first time turned to the bond market as a financing source. Arranged ...
- Fredriksen buys suezmax’es from Genmar
John Fredriksen has bought six double-sided suezmax tankers from General Maritime (Genmar) for USD 130.0 million en bloc, according ...
- Sirius in re-sale deal for a product/chemical carrier
Turkish Besiktas Group has re-sold a newbuilding contract for an oil product/chemical carrier to Sirius Rederi on Donsö ...
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| NOVEMBER 3, 2005 |
- Narrow margins see Houston prices rebound
Suppliers seeing resupply costs higher, raising prices from the lows seen this week.
- Lubricants: Vulnerability a symptom of consolidation
Consultant assesses the impact of consolidation on the lubricants industry, and poses questions about ongoing and future vulnerability of supply.
- Durban: Normal business to resume early next week
One refiner will quote enquiries from November 10, the other hopes to entertain spot business from early next week.
- EU study on ship emissions puts scrubbing in focus
A study on abatement technologies for the European Commission shows scrubbing as cost efficient means of reducing sulphur emissions, quite possibly more so than switching to LSFO.
- Clean-up underway after heavy fuel spill off Antofagasta
Clean-up efforts are under way off the coast of Antofagasta after collision results in spill.
- Rotterdam stable, prompt product tight
- Singapore: Stocks of distillates up, residual fuels down
- Hong Kong: Closer cargo arrival dates boost confidence
Traders report renewed confidence in ability to meet 180 cst requirements as cargo arrival dates near.
- Oil prices hold steady on US stocks data
World oil prices remained almost steady last night following US inventory data showing figures above market expectations.
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