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| MAY 18, 2005 |
Shipping News
- China's car export plans hurt by shortage of carriers
CHINA wants to become an auto exporting powerhouse, but even if overseas demand for Chinese-made cars soars, its ambitions could be constrained by a global shortage of car-carrying ships.
- Asian freight rates dip to eight-month low
ASIAN shipping rates for dry bulk cargoes have fallen to eight-month lows due to fading demand for spot vessels, with falls in prices for commodities including oil adding to the weaker sentiment, brokers said yesterday.
- High-tech boost in fight against piracy
SINGAPORE unveiled yesterday a fleet of remote-controlled vessels, which Defence Minister Teo Chee Hean said would give the city-state a high-tech boost in the battle against maritime piracy and terrorism.
- CMA CGM refutes rumours of talks to buy CP Ships
- KL probes deaths of 3 suspected stowaways
- Shipbroker Braemar's profit soars 82%
- Newcastle loads just 16 coal carriers as prices rise
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| MAY 18, 2005 |
- Chinese exports surge 32pc in April, fueling calls for revaluation of yuan
- Cosco rated among top 10 domestic performers in China
- Ambitious ANL looks to handle 1m TEU by 2009
- Deeper navigational channel to open soon at Tianjin port
- NOL announces new board appointments
- HKIA throughput grows in April
- Sichuan Airlines starts flying to Hong Kong
- New Tiaca chairman lays out group's future direction
- Menzies wins handling contract in Dominican Republic
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| MAY 18, 2005 |
- MoS allows SCI to disinvest 15 pc stake
- Maersk India’s e-commerce awareness programme draws active participation
- New loading record set at Okha port
- Rs 50-cr. ADB aid for development of Nagapattinam port
- Tulsidas Khimji’s air division awarded coveted ISO 9001:2000 certification
- IA going in for dedicated freighter service
- PM’s core panel favours tariff body for dedicated rail freight corridor
- Govt waves green flag to dedicated rail freight corridor
- December may see int’l flights from Lohegaon
- Carrying capacity of BoxN wagons on some routes increased
- Toronto back on A-I map after almost 2 decades
- Use e-mail and EDI facilities to avoid delays, Customs official tells ex-im trade
- 20 lakh bales of cotton cleared for export
- No service tax on outsourced processes in gems and jewellery sector
- 8 core sector projects virtually shelved
- PM calls for continuation of disinvestment process
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| MAY 17, 2005 |
- Analysts predict further falls in crude price
Bearish crude market may see further reassessment of bunker price levels amid talk of $45 barrel 'in a hurry'
- Tight avails expected in Fujairah
Shipowners fixing requirements before the next upswing in prices
- Colonial to offer 1.5% low-sulphur fuel on USEC
Supplier takes the initiative to offer new fuel and provide documentation and samples complying with MARPOL Annex VI
- Chinese buyers seen returning for June fuel oil
Demand for fuel oil into China is expected to pick up in June after months of lacklustre activity, as stocks run low and industry sources predict lower prices and improved supply.
- US: More vessels held for pollution offences
Two ships detained in Hawaii after US coastguard officials found unauthorised bypass pipes and invalid oil record books.
- Off-spec fuels reported in New York
Several heavy fuel oil samples from New York have tested off-spec for density in the past two weeks, while other quality parameters also drew attention in a bunker alert issued today.
- Gas Turbine propulsion system approved in principle by Lloyds
Lloyd's Register has issued an Approval in Principle of GE Energy's LM2500-based, gas turbine propulsion system for liquefied natural gas (LNG) ships.
- Environment friendly lubricants promoted by EU Eco-label
Companies selling lubricants in Europe can now apply for the EU Eco-label if their product has a low impact on the environment.
- Prompt product still tight in Rotterdam
- Marpol Annex VI: Fuels above 4.5% still occurring
Fuel samples with a sulphur content above the 4.5% limit required under Marpol Annex VI have just been reported in Italy, a timely reminder that buyers need to specify compliance with the International Maritime Organization (IMO) regulation as well as standard fuel quality parameters.
- US: Oil spill funds in danger of total depletion by 2009
The US oil spill compensation funds will be depleted by 2009, rendering it unable to carry out oil spill cleanups, according to reports by the US coastguard.
- Bunkering case favours private supplier
Sri Lanka Shipping Company, a private supplier in Colombo port, received a verdict in its favour on a long-standing bunkering row with Sri Lanka Port Authority and John Keells Holding.
- Operators refuse security charge, want more transparency
Shipping firms want new charges in Hong Kong and Shenzhen included in regular container handling levies
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| MAY 17, 2005 |
- Royal P&O Nedlloyd confirms resignation of non-executive directors
- MOL announces resignation from WTSA & CWTSA
- British Airways World Cargo: revenues winging up
- Rotterdam to build extra container terminal for inland and feeder vessels
- BLG Logistics: 2004 profit surge
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| MAY 17, 2005 |
- Large claims hit UK Club
- Trailer Bridge reports Q1 boost
- Bunker buyers "need to revise specs"
- Lake Charles terminal to be "LNG workhorse"
- Warning on use of electronic charts
- ExxonMobil supplying gas oil at Istanbul
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| MAY 18, 2005 |
- Oil spill trust fund in danger of running out of cash
THE Oil Spill Liability Trust Fund, set up under the Oil Pollution Act of 1990 as an insurance mechanism for cleaning up oil spills in US waters, is likely to be exhausted by fiscal year 2009 if present rates of depletion con- tinue unchecked, the US Coast Guard has warned.
- Aries pitches for $276m Nasdaq listing
ARIES Maritime Transport has joined the new names looking to entice mainstream investors in Wall Street by seeking to raise up to $276m in a Nasdaq initial public offering to start up an enterprise operating seven product carriers and five containerships.
- Five-hurricane forecast makes insurers shudder
ARLENE, Gert, Ophelia, Philippe and Wilma. These are the names that are beginning to send shivers down the spines of insurers and reinsurers who fear that a more active Atlantic Ocean hurricane season in 2005 will bring new multi-billion dollar bills.
- Shell plans bulk terminal for Hazira
THE Indian unit of Royal Dutch/Shell will spend $690m on building facilities to handle bulk cargo at Hazira port, Reuters reports .
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| MAY 17, 2005 |
- Seafarers 'in the firing line'
SEAFARERS feel that they are "in the firing line … with little support from ashore", said Philip Wake, chief executive of the Nautical Institute yesterday
- IPOs at frantic pace
IPO FEVER in New York continues to heat up, with four offerings unveiled in the past four working days
- Shell expands at Hazira
ROYAL Dutch/Shell today said it plans to invest Rs30Bn ($682M) in setting up a bulk cargo and container terminal at Hazira in India
- Box boom drives GL growth
GERMANISCHER Lloyd’s results have been buoyed to new highs by heavy ordering activity in the container ship sector
- Braemar predicts strong markets
BRAEMAR Seascope, the UK-based shipbroker, revealed in its annual results today that turnover was up by 65% and net profits rose to £6.5M ($11.9M)
- Greenpeace captain jailed
- US oil spill fund running short
- Wage law: foreign flag cruise only
- US single-hull phase-out fear
- Seyang sees sharp fall in profit
- Ezra to sell five vessels
- MISC profit doubles after sales
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| MAY 17, 2005 |
- New air cargo security bill proposed
Two amendments to authorization bill for Homeland Security would up inspections for cargo carried on passenger aircraft.
- Portland TEUS plummet in March
- Customs Update: Chinese textile safeguards
- Senate approves highway bill
- Miami port, truckers reach accord
- FedEx' Smith: Fuel prices to fall
- Dell, APL Logistics plan N.C. center
- Container security top SC concern: Study
- Shell plans India box terminal
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| MAY 17, 2005 |
- China fuel shortage sees refill quotas at filling stations
Petrol filling stations in China’s Guangdong Province started imposing quota limiting the amount of diesel truckers can refill each time, from May 1, due to fuel supply shortage in China.
- Shipping majors show interest in second Chennai box terminal
Global shipping and terminal majors have expressed interest in the project to build a second container terminal at Chennai, to compete with the terminal operated and managed by P&O Ports.
- China calls for healthy Sino-US trade relations
- Mediator intervenes in Canadian rail dispute
- CP Ships reduces Atlantic capacity
- MSC performs mid-May Baltic shuffle
- Box terminal will boost Sharjah FTZ
- SAFETEA could help fight port-congestion – if progress weren’t so congested
- NYK’s Ceres losses running at around US$25m a year
- Tomasella to furnish Russian market from Kaliningrad factory
- APL and Dell to build US logistics facility
- Indian ministries agree on SCI share sale
- Joint HK-Australia operation sees drugs bust
- FESCO exercises third Szczecin ship order
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| MAY 17, 2005 |
- TOP comeback
Shares in TOP Tankers have rebounded impressively since word of money troubles surfaced last week.
- TBS listing to enrich insiders
IPO seeks to raise $68m for new ships but management could walk away with nearly as much.
- Profits cut at Hanjin
But yard outperforms larger competitors Samsung and Hyundai.
- Samsung posts loss
Though deficit for Korean builder lower than analysts feared.
- State snares Gdynia shares
Welcome investment for Polish yard as Industrial Development Agency increases stake to 12%.
- Yard decline to continue
Fitch Ratings agency expects weaker cash flows from European shipbuilders to add to consolidation pressure.
- Q-Ship moves into VLGCs
Four-ship order at Hyundai will triple company's owned gas fleet.
- Exmar earmarks LNG newbuildings
Belgian owner set to extend its LNG regasification vessel fleet with Daewoo duo.
- Suezmaxes on the move
Frontline sells on three single hull ships to Ocean Tankers while Papachristidis commits to two 1996-built double hull vessels.
- Braemar reaches new high
UK shipbroker posts best-ever profits in high-powered year for shipping.
- Japanese detentions rise
April port state control checks net 23 ships, including Seatrade and Oldendorff vessels.
- Just Champion
Expanding Norwegian tanker owner more than doubled net profit in 2004.
- Murmansk asks for pay rise
Russian owner wants more cash for piloting vessels using country's nuclear-powered ice-breaking fleet.
- NOL exits Lorenzo
Singapore national flag carrier offloads stake in listed Philippine shipowner to compatriot.
- Jaya powers ahead
Boom in offshore markets helps lift third quarter performance at Singapore shipowner and shipbuilder.
- Car carrier caught polluting
USCG finds oily-water separator discharge bypass fitted on K Line chartered African Highway.
- Jump in Trailer Bridge profits
Significant reductions in rental expense on vessels and equipment help US short-sea liner operator.
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| MAY 17, 2005 |
- Trailer Bridge's profits soar in first quarter
- NYK takes Kritikos company to court
- Coast Guard lifts vessel restrictions on James River
- FedEx chairman gives economists lesson in economics
- UPS plans to operate Overnite as subsidiary UPS plans to operate Overnite as subsidiary
- Supreme Court allows direct buying wine from out-of-state vineyards
- Study: Trade barriers hinder growth of U.S. logistics companies
- Census to require Kimberley Process Certificate number for AES
- Dell, APL sets up logistics center in North Carolina
- Exel names Benki, McGurin to sea freight positions
- Descartes hires two senior executives
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| MAY 17, 2005 |
- More container newbuildings to Maersk
A. P. Møller-Mærsk is again signing up for new container carriers. That brings the total A. P. Møller-Mærsk ...
- More than 1.5 billion ferry passengers 2004
1,336,631,628 passengers travelled with the world’s ferries last year, according to statistics from ShipPax Information in Halmstad, Sweden. The ferries ...
- Cruise industry passed dream level
The Cruise industry has recovered from the effects of the terror attacks on 11 September 2001. Figures compiled by ShipPax ...
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