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| MAY 25, 2005 |
Shipping News
- Dubai Ports looks to Asia to tap growing economies
DUBAI, the world's sixth-largest container port handler, said it is interested in running more terminals in China and India to tap growing economies and challenge rivals, including Singapore's PSA International.
- China sees 50% rise in volumes in five years
THE volume of cargo passing through China's ports every year is expected to rise by more than 50 per cent in the next five years, a report said yesterday.
- Seamen block Irish ferry over cheap hiring policy
ANGRY seamen at the north-western French port of Cherbourg stopped passengers disembarking from an Irish ferry on Monday to protest against the company's decision to take on cheap labour from eastern Europe and the Philippines.
- New service from Korean container companies
Strait Talk
- An ironic twist to speculation on P&O
THE UK press was busy speculating on the future of P&O last week, following reports that Singapore's Temasek may have bought a small number of shares.
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| MAY 25, 2005 |
- APM Terminals acquires controlling stake in GPPL with 47 pc
- Mercantile Maritime Admn being strengthened, inspections increased
- Rising oil demand will keep tanker rates high—Teekay
- Shipping cos drop anchor on expansion plans
- Safmarine adds new S. American & Middle East links to Southern Africa to augment Samba & Indian Ocean Islands services
- Hyundai Merchant's Q1 profit rises to a record
- Q1 results show sustained performance-NOL
- MISC’s profit triples to RM 2.2 bn on ship sales
- MOL to pull out of WTSA, CWTSA
- Taranto Container Terminal welcomes LT Cortesia
- A.P. Moller-Maersk elects new board member
- Basmati exports cross Rs 1,800 cr.
- Venezuela keen on better trade ties with India
- Automobile exports increase by heartening 36 pc to Rs 8,809 cr. in 2004-05
- Munich to display the world of transport at a glance from May 31 to June 3
- St John Freight Systems bags Fieo’s Niryat Shree award
- Jet Airways launches Mumbai-London flight
- CONCOR benchmarking activities to become cost competitive
- Exporters holding ALs can directly procure inputs from SEZs
- DGFT: EOUs’ supplies to EPCG licence holders in DTA
- Govt ready to back SEZ for jewellery-FM
- Indian entities can invest more abroadx
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| MAY 24, 2005 |
- Bunker prices blamed for container rate rise
Higher bunker prices are behind a 13% increase in India-Europe container rates.
- Inferno in bunker tanks engulfs freighter
25 firefighters battle fire onboard Indonesian-bound freighter as bunker fuel burns.
- Changes to pricing information for Tampa and Halifax
- Top owner urges more dialogue, less knee-jerk reactions
The shipping industry is not well served by emotional knee-jerk criticism of politicians when tighter regulations loom, and should instead seek more dialogue to preserve its image and long-term interests. The bunker industry shares with shipowners the view that new regulations often demonstrate a lack of understanding of the practicalities of their business.
- Man B&W targets improved fuel consumption, lower emissions
In an update program which has attracted significant interest from buyers already, engine manufacturer Man B&W is targeting improved fuel consumption, power and emissions performance.
- Cargo and bunkers tumble in Singapore despite crude gains
An influx of fuel oil cargoes in the Singapore market has seen cargo and bunker prices fall today despite last night's crude gains, although the bunker premium has widened.
- Rotterdam barge market offers/bids far apart this morning
- World oil stocks rising too fast, Qatar warns
Qatar's oil minister yesterday warned that world oil stocks were rising too fast and urged OPEC to keep an eye on the situation.
- Daewoo wins order to build three VLCCs
Daewoo Shipbuilding & Marine Engineering has secured a $384 million order from state-run National Iranian Tanker Company to build three VLCCs.
- Horizon Singapore Terminals selects HSBC for project finance
Horizon Singapore Terminals has selected HSBC Holdings to arrange a $240 million loan for an oil terminal project with bunkering facilities on Jurong Island.
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| MAY 24, 2005 |
- NOL: new directors strengthen global transportation and logistics sector
- Hamburg Süd's Monte class - giants in South America
- US Airways saved by merger with America West
- TFG expands services for seaports and Austria
- Panalpina – significant growth in 2004
- Iran increases import duties
- Terion launches FleetView 3R trailer management system for reefer fleets
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| MAY 24, 2005 |
- UK officers’ union plans merger with Dutch seafarers’ union
- Aker Ostsee boxship boom continues
- Steen converts Skaugen bond
- EC set for Galileo talks with South Korea
- Sri Lanka bunker plan
- APL launches Irish feeder service
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| MAY 24, 2005 |
- Diamond Offshore announces $1.2 billion of contracts
- Navy awards $3 billion DD(X) design contract
- More containership orders for Aker Ostsee
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| MAY 25, 2005 |
- TOP abandons placement as Wall Street climate worsens
NASDAQ-listed TOP Tankers has accepted defeat in trying to push through a $300m private placement in New York in order to fund a spectacular diversification into the dry bulk side of shipping.
- Dry bulk’s bull run could be heading for a bear market
DRY bulk shipping’s spectacularly profitable three-year bull run could be nearly over, according to a leading freight futures broker, with the market teetering on the brink of a long-term downward bear market.
- Shipbrokers warned on financial regulation
LONDON shipbrokers are likely to face formal regulation from the financial services authorities in coming years as government steadily tightens up on money-laundering legislation, writes Julian Bray .
- Qatar unveils $20bn expansion warchest
QATAR Gas Transport Co plans to spend a massive $20bn acquiring a fleet of more than 100 gas and bulk carriers and constructing a shipyard at Ras Laffan industrial city.
- CMA CGM eyes acquisition targets
CMA CGM is on the acquisition trail and may buy a smaller company “before the end of next year”, chairman Jacques Saadé said yesterday.
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| MAY 24, 2005 |
- Schiffsbank sustains top margins
GERMAN ship financier Deutsche Schiffsbank has claimed a top spot in the profitability league after posting an improved set of figures for 2004
- Grindrod buys commodity trader
GRINDROD, the South African shipping to logistics group, has acquired US agricultural commodity company Seaboard Corp
- India clamps down on detentions
INDIA’S director general of shipping has warned of strict measures against local companies whose ships are detained overseas
- Frederik 'must go back to Denmark'
DANISH foreign minister Per Stig Möller has called for the ro-ro Frederik to return to his country for cleaning before scrapping
- EU presses for new WTO trade round
THE European Union is pressing for a new WTO trade round, said Peter Carl, director-general of trade directorate of the European Commission, today
- Bangladesh owners invest in tonnage
SHIP owners in Bangladesh are starting to invest more heavily in tonnage and taking a greater share of domestic cargo carried
- VLCC hit by ro-ro in Gulf of Oman
- Charleston growth needs support
- Seafarers treated after vessel fire
- Court targets Festival executives
- Trinidad works on port 'Plan B'
- Caribbean fears merger impact
- Radical Caribbean cruise proposal
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| MAY 24, 2005 |
- ILWU sets new West Coast targets
Union formulating plans to organize the thousands of workers at many import distribution centers located near West Coast container ports.
- China TEU volume to rise: Report
- Nehru to join CSI
- Modest growth for Asia imports
- ICC: End port jams now
- At AAEI: Muslim terror still a threat
- At AAEI: New fight for U.S. goods
- House panel OKs WTO membership
- Boeing launches 777 freighter
- Aker, Kvaerner set up U.S. unit
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| MAY 24, 2005 |
- EC decries quotas, while HK says transhipment may limit export-quota effect
European Trade Commissioner Peter Mandelson has ruled out a return to quota-based trade, and said the EC would examine various measures’ value, while Hong Kong is also questioning export-quotas’ effectiveness.
- RTT restructures as it awaits fierce competition from Nansha
Hong Kong’s River Trade Terminal (RTT) says it is back on the right track by focusing on river trade, bringing bigger barges from western Pearl River Delta into Kwai Chung.
- Antwerp hails ‘Iron Rhine’ reactivation with ‘cautious optimism’
- PSA International to build, operate, manage Tianjin terminal
- Dhaka ICD to move Chittagong boxes onto river-transport
- Inchon inches up but Gwangyang transhipment caves in
- Eurasia ‘land-bridge’ to keep its sea-legs for near future
- Hanjin to issue US$300m bond
- Hassing to develop Samskip shortsea and international activities
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| MAY 24, 2005 |
- TOP stops
New York-listed TOP Tankers officially pulls $300m offering, confirms death of its bid to buy 15 bulkers from AM Nomikos.
- Koreans pair up
Heung-A Shipping and STX Pan Ocean to launch direct service between China and Southeast Asia.
- RCCL cuts loan costs
Cruise line reduces pricing by more than 40% on main credit facility.
- Aker buying Philly from Kvaerner
Shareholders in Kjell Inge Rokke-controlled Kvaerner could cash in on a shipyard sale to Rokke-controlled Aker.
- MSC signs with ShipServ
Chinese arm of expanding liner shipping group to use internet procurement for 83 vessels.
- VLCC spills 500 tonnes
Pollution from holed tanker Astro Lupus proves more extensive than early reports.
- Slim pickings for Global Carriers
Sales up but profits down for Malaysian tanker and boxship owner.
- DFDS on course with loss
Danish shipowner is in the red but is looking forward to a 12% rise in profit this year.
- Fesco reaps rubles
Russian container line posts 2004 operating profit of more than RUR 1bn.
- Star claws back into profit
More passengers and fewer impairment charges on the Norway bring gains for Asian cruise group.
- Saevik lists again
Norway's Per Saevik has taken yet another offshore services fleet to the Oslo Stock Exchange.
- Kristen VLCC in collision
Leakage of crude from laden Greek tanker is stopped but vessel has to break voyage for survey.
- APL feeds Ireland
Container line’s first European feeder service to link Dublin and Cork to mainland Europe.
- Norway sets sail for Malaysia
But uncertainty still shrouds future of NCL’s luxury cruise liner.
- Skaugen share switch
Director Bertel O Steen jacks up his $21m stake in Norwegian gas carrier owner through bond conversion.
- Meiji makes less
Profits and revenues down at Japanese tanker and bulker owner in year to 31 March.
- Konig doubles up at Aker
Tobias Konig's company places second order, this time for smaller containerships.
- STX Pan Ocean eyes IPO
Shipbuilding parent looking to float stake in South Korean shipowner on Singapore Stock Exchange.
- HMCL steps up Caribbean service
Dutch container line goes weekly with addition of newbuilding.
- Daewoo heads to China
Korean yard group to set up Chinese hull block factory to lower costs.
- Palma in at Fincantieri
Italian yard group appoints former PriceWaterhouse man as second in command.
- Safmarine adds more Samba
South African container line to start new service from Brazil to Port Elizabeth.
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| MAY 24, 2005 |
- Maersk Sealand drops ship on Med/Indian Subcontinent loop
- ‘APL New York’ makes maiden call at Port of New York-New Jersey
- APL starts Ireland/continental Europe feeder link
- Holland Maas raises Europe/Caribbean frequency
- Hamburg Sud promotes Crelier, Parker
- Report: U.S. aerospace industry suffering in light of EU funding
- BNSF to use low-emission diesel-hybrids in Los Angeles, Texas
- U-Freight relocates to larger premises in Guangzhou, Xiamen
- Flynn: C-TPAT not adequate to protect containers at point of origin
- Mega port operators line up for Yangshan greenfield development
- Alabama’s governor signs bill funding Mobile terminal
- AAPA, International Navigation Association sign cooperation pact
- Port of Auckland box volume up 1% in April
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| MAY 24, 2005 |
- Viking Line expects significantly lower profit
Earlier this year, the board of Viking Line flagged for a lower profit this accounting year compared to 2003/2004 ...
- Kystlink deploys "Pride of Telemark"
Norwegian Kystlink begins sailing with the "Pride of Telemark" – the former "Stena Jutlandica", built in 1983 – from Langesund to Hirtshals ...
- Danish flag and Italian captains on Torm Tankers
Dampskibsselskabet Torm writes history in Denmark as they in the coming month will operate Danish-flagged tankers with Italian captains ...
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