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| APRIL 27, 2005 |
Shipping News
- Tanker rates may have peaked, says World-Wide chief
OIL tanker rates woould not return to November's record levels as more ships are launched, according to Helmut Sohmen, who controls the world's largest closely held shipping company, World-Wide Shipping Group.
- Daewoo yard posts Q1 loss on higher steel prices
DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, said it had a loss in the first quarter because of rising steel prices.
- Box maker CIMC's Q1 profit surges five-fold
CHINA's China International Marine Containers Co Ltd , the world's largest maker of shipping containers, posted a near five-fold jump in quarterly earnings as orders surged alongside booming international trade.
Strait Talk
- Tanker sector headed for capacity crunch?
THE second half of this decade is going to be a very interesting time for the tanker business, especially the VLCC sector, which carries most of the world's crude oil to where it is needed.
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| APRIL 27, 2005 |
- SITC unveils new China-S Korea service
- OOIL chairman plays down fears of over tonnage situation arising in 2006
- Kelvin Leung named new HAFFA chairman
- ASAX to become independent CSAV service
- Expansion at Port of Georgia on track
- NOL appoints deputy president
- FedEx starts service to Central Japan International Airport
- China Southern takes delivery of new Airbus A330
- Expansion moves U-Freight in Korea
- TIACA elects new chairman
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| APRIL 27, 2005 |
- Gati Coast to Coast moves 55 containers from Yangon to Nagpur in just 14 days
- Hapag-Lloyd enhances port coverage with European Express Service (EEX)
- Lloyd Triestino to offer twice-weekly sailings on N. Europe-Canada trade
- PSA, P&O Nedlloyd in deal on Italy’s Voltri Terminal
- TSA warns of jump in storage fees in US as terminals cut free time
- CSCL revenue surges
- Lines pressing ahead with Mexican port plan
- Transoceanic Shipping merges into PWC Logistics
- Soyabean oil imports surge as freight costs make palm oil dearer
- A good year for cashew exports
- Freight fraternity unites for a common cause
- Indev provides total logistics solutions for ISTRAC
- The press release issued by FIF
- Govt to promote public-pvt. ventures in road projects
- 2005-06 export target revised to $ 92 bn
- Tax may be slapped on withdrawals exceeding Rs 25,000
- Shortfalls, capacity use in core sector to be monitored, quick remedial measures taken
- Textile trade needs $ 16-bn investment to meet export target
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| APRIL 26, 2005 |
- 16 more accreditations in Singapore, total reaches 59
More than two thirds of Singapore's bunker suppliers have achieved accreditation status with just over one month until the deadline to meet the criteria as set out by the MPA.
- SPC records 73% profit increase for Q1, 2005
Singapore Petroleum Company (SPC) reports solid growth in first quarter results.
- Rotterdam stable ahead of Midday
- Royal Caribbean chief stretches earnings
Royal Caribbean chairman bags hefty bonus despite claims about the negative impact of high bunker prices.
- ARA: Source of new styrene incidents still unknown
A vessel debunkered a huge parcel of fuel oil, and an oil major is still investigating source of contaminated fuels supplied to two vessels in Antwerp at the end of March.
- Valero Energy acquires Premcor in $8 billion deal
Valero Energy has sealed an $8 billion deal to take over rival Premcor, boosting its total throughput capacity to more than three million barrels per day.
- Single-hulled tanker causes spill off Colombia
A single-hulled tanker hit an underwater object that resulted in a spill near Cartagena, Colombia.
- Port of LA expands electric program with 'new generation' AMP
New wharf electric plug-in, at berths 212-216, will not use a barge conduit to connect ships to shore-side electrical power.
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| APRIL 26, 2005 |
- ISPS "brings commercial benefits"
- Arlington reports first quarter since IPO
- Ballast water project moves up a gear
- Samskip in new acquisition
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| APRIL 27, 2005 |
- VLCC rates have peaked warns World-Wide’s Sohmen
RATES for very large crude carriers have peaked and are unlikely to match the euphoric highs seen last year, says Helmut Sohmen, owner of World-Wide Shipping and Bergesen.
- BP increases spending as rig and vessel lease costs soar to record levels
SOARING rig and vessel lease costs are forcing BP to raise capital and operating expenditure this year, but high oil prices are keeping its profits strong.
- Pay bonanza for liner company chiefs revealed
SALARIES and bonuses of liner shipping bosses have soared over the past couple of years, with a number now joining the first division if not yet in the premier league, writes Janet Porter.
- China okays Shenzhen box port expansion
CHINA has announced further container terminal expansion by giving the go-ahead for a 2.5m teu facility at Shenzhen, the world’s fourth largest box port city, writes Sam Chambers in Hong Kong.
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| APRIL 26, 2005 |
- Top growth plans pay off
TOP Tankers is reaping the benefits of its rapid post-IPO fleet expansion, reporting its third straight profitable quarter yesterday
- Indonesia names 25 hub ports
INDONESIA has drawn up a select list of 25 ports that will be designated as “ocean-going” or international harbours.... Full story
- Eurotunnel 'disappoints' yet again
EUROTUNNEL, operator of the cargo and passenger rail link under the English Channel, has announced “disappointing” 2004 results with a net loss of £570M ($991M).... Full story
- High charter forces SCI out of IndAmEx
SHIPPING Corp of India has left the IndAmEx Consortium due to high vessel charter hire costs.... Full story
- Shanghai owner’s group set up
THE Shanghai Shipowners’ Association was set up yesterday. Le Kelin, the current president of China Shipping Container Line, is chairman.... Full story
- CMA CGM ties its fortunes to China
FRENCH liner operator CMA CGM intends to broaden its participation in container terminals to include investment in China.... Full story
- EU warns Greece over ferries
- Vancouver bids to keep cruise crown
- Arlington kicks off with $5M profit
- Tor Line looks good on paper
- Herma counters fraud allegations
- Carnival wary after Belize unrest
- Saetta hit underwater object
- Deal defines US refinery market
- US-Russia LNG deal signed
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| APRIL 26, 2005 |
- Trade bolsters CMA CGM income
Revenue increased 30 percent to $5.2 billion as net income doubled to $536.5 million.
- Pensacola port director resigns
- OOCL eyes expansion, plans to open Italy office
- CSXI sets fuel fee
- Increase for LAX cargo
- Cathay adds Dallas-Atlanta freighter
- France calls for China textile curbs
- Power2Ship buys drayer, trucker
- Fuel charges boost Swift quarter
- New guide from BACK Aviation Solutions
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| APRIL 26, 2005 |
- China ‘strongly opposed’ to EC textile restrictions
China’s commerce minister said today that the country is ‘strongly opposed’ to restrictions imposed by other countries on its textile exports, noting the sharp surge in exports was not China’s responsibility.
- Asian giants China and India comprise nearly half CMA CGM activities
China and India accounted for 47% of CMA CGM’s activities in 2004, prompting the group to deploy 12 post-panamax vessels into Asian trades and focus on developing its Indian agency-network.
- Canada expands container screening
- POLB follows California port authorities’ proposal of 5% hike
- Korean carriers urged to stop lifting rates
- Doehle Group buys out Swan Container Line
- Cosco renews Manila calls with HK shuttle
- Expanding demand sees Textainer place new box order
- Big fish Samskip acquires 30% of Kloosterboer coldstore activities
- CIMC forecasts a 100% rise in H1 net profit
- Sinotrans upgrades Shenzhen shuttle barge service
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| APRIL 26, 2005 |
- Limarko lines up ship buys
Lithuanian reefer and cargoship player to use profits for fleet expansion.
- Daewoo turns to loss
Korean shipyard giant hit by strong Korean won and higher steel prices in first quarter.
- Anglo-Eastern wins KC
Hong Kong shipowner decides that a dozen vessels is too few to self-manage.
- Desperation led to fraud bid
Tangled financial affairs of Greek shipowner Harry Petrakakos are dissected in a London court.
- Vosco revenues stable
Vietnamese owner’s first quarter sales leave it on target to equal 2004’s figure.
- Sovcomflot ready to order
Russian owner in newbuilding agreement with Severnaya Verf after successful first quarter.
- Profit leap for DVB
Corporate finance activity lifts first-quarter result for specialist transport bank.
- Green freezes out veteran
Norwegian owner offloads 1976-built reefer already replaced by younger models.
- Sincere banks bigger profit
Taiwanese bulker owner boosted by high rates and investment returns in 2004.
- Panamax rates plunge
Fears are rising that the dry cargo market is heading for squally weather.
- Less is more
Hyundai took fewer orders in the first quarter of 2005, but higher prices meant it was paid more.
- Helmut Sohmen goes dry
World-Wide chief is more upbeat on outlook for bulkers than tankers or gas carriers.
- Diana delights
Dry bulk boom sets New York Stock Exchange debutant on road to stellar performance.
- SBQ becomes BQ
And then there were two. Singapore gas and chemicals brokerage partners Braemar Quincannon buyout SSY stake.
- Steady start for Arlington
Buoyed by profit sharing Stena tanker spin-off reports first quarter net income of $5.8m.
- Taiwan Navigation notches gain
Bulker and tanker owner benefits from strong rates in both markets during 2004.
- Nepline offloads ship
State-controlled Indonesian owner PT Pann pays $2.2m for 3,035-dwt multi-purpose bulker Nepline Teratai (built 1985).
- Excel gets attractive
Amex-listed Greek shipowner’s latest acquisition begins twelve-month charter following early delivery.
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| APRIL 26, 2005 |
- Analyst: Maersk's control of ports will give it "pricing power"
- TACA resists congestion surcharge again
- OOCL to open Italy office
- Appeals court judge to give Healy lecture on "Titanic"
- Air Canada to renew Boeing fleet
- Cathay Pacific to launch Hong Kong to Dallas, Atlanta freighter services
- Los Angeles International Airport cargo up 5.3%
- Bartek elected TIACA chairman
- CBP reminds cross-border truckers to get ID cards
- Track reopens after UP derailment with K-Line cargo
- IANA moves headquarters
- Kuehne & Nagel's net profit up 45.7%
- GAO: U.S. must do more to help Mexico liberalize agricultural trade
- ITC to reconsider dumping duties for Indian, Thai shrimp imports
- Samskip buys Kloosterboer Group coldstore companies
- CSCMP holds European conference in Amsterdam
- Long Beach to hike rates 5%
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| APRIL 26, 2005 |
- Stronger USD boosts Concordia capital
The strengthening of the USD/SEK exchange rate has boosted Concordia Maritime capital by SEK 100 million (EUR 10.9 million ...
- Indian Shipbreakers warn against Greenpeace campaign
A united group of Indian Shipbreakers around the beach of Alang in the Gujarat province headed by Pravin Nagasheth, president ...
- Five against Commission to represent EU at the IMO
Denmark, Greece, Germany, Malta and Cyprus are against the European Commission’s plan to represent the entire European Union at the ...
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