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| OCTOBER 27, 2005 |
Shipping News
- Bunker fuel tests spark talk of tampering
ARE bunker fuel samples being tampered with to allow fuel that exceed regulatory limits to escape detection? Industry observers speculate this is what is happening in Singapore's lucrative $7 billion bunkering industry after a number of retests not only showed up samples that exceeded limits but also inexplicable conflicting results from tests conducted on purportedly the same fuel sample.
- Evergreen Marine's Q3 profit may fall on fuel cost: survey
EVERGREEN Marine Corp, which operates Asia's largest container shipping line, may post its first quarterly profit drop in six, as Taiwan's slowing exports growth reduced shipments and fuel prices soared.
- India seeks US$150b investment for ports, roads
INDIA said it needs US$150 billion of investment in the next decade to improve its ports, roads and other transport infrastructure and keep pace with economic growth in Asia's fourth-largest economy.
Logistics
- DHL sees double-digit sales growth in India
DHL, Deutsche Post's express delivery and logistics arm, expects strong growth in Asia including continued double-digit revenue growth in India in coming years, the head of its Asian business said recently.
- UPS earnings jump 23% on revenue growth
LED by strong worldwide gains in package volume and the expansion of its supply chain and freight business, UPS reported a 17.9 per cent increase in revenue and an adjusted 22.9 per cent increase in diluted earnings per share.
- New Asia managers for Lufthansa Cargo
LUFTHANSA Cargo has announced several changes in management positions within the organisation in the Asian Pacific Area.
- Exel boosts team with supply chain solution skills
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| OCTOBER 27, 2005 |
- P&O posts 7pc growth in Q3 container volumes
- Fuzhou to add 59 berths in five years
- Record cargo volume for Fangcheng Port
- Port of New Orleans offers financial relief to tenants
- Major seaports in Australia not gridlocked, say Customs
- CN posts 19pc rise in 3Q profits
- Cargolux unveils direct Dammam service
- Northwest Airlines Cargo joins SkyTeam Cargo
- Emirates SkyCargo flies relief supplies to Islamabad
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| OCTOBER 27, 2005 |
- TUI AG studying expansion of cruise business
- Phenomenal rise in Q1 exports to China
- MMB’s Rewas, Dighi ports poised to achieve financial closure
- Bangladesh to develop deep-water port
- Major Port Trusts Act 1963
- Panel identifies most feasible rail route for Kochi-Vallarpadam link
- Govt to make aviation industry another engine of national growth & driver of economy
- Railways may go in for dedicated coal freight corridor
- CONCOR set to launch regular barge services from Kolkata Port to Narayangunj from November
- Govt may reclassify road projects under BOT scheme to lure private sector companies
- EEPC expo in Mexico attracts deals worth over $ 1 m
- Commercial credit trend heartening
- Self-certification of herbal drugs made compulsory for exporters from January
- ...trade touches $ 12-bn mark in January-August
- IMF sees bright prospects for Indian economy
- Pharma city, SEZ to come up near Vizag
- US may prefer Indian leather products to those of China & Vietnam
- Sesame exports up by 36 pc in off-season
- Phenomenal surge in trade with Romania
- Soyameal exports move up
- Assocham’s focus to remain on industry-specific delegations
- Forex reserves touch $ 143.5 billion
- Pepper hot on foreigners’ palates again
- IMC hails RBI’s credit policy
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| OCTOBER 26, 2005 |
- Chapman Freeborn names new Asian business director
- Relationship between Le Havre and Shanghai to be improved
- Aeromexico and Mexicana sale to go ahead
- Dortmund–Ems canal closed until mid-December
- Fercam taking over Europ Cargo Spedizioni
- Germany: more container monitoring
- Trans-o-flex to increase use of RFID
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| OCTOBER 26, 2005 |
- Weak Q3 for Euronav
- "Minor" profit drop for Leif Höegh
- ICTSI hit million TEU mark early, again
- Van Miert to kick start Galileo
- Tanker fined US$60,000 for 64 litre oil spill
- Finnlines profit dips amid labour strife and weak market
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| OCTOBER 26, 2005 |
- DHS announces completion of maritime security strategy plans
- ISMA reinvents itself
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| OCTOBER 26, 2005 |
- Vancouver BC sees small decline in cruise passengers for 2005
- Forest products firm seeks Corps nod for upgrades to Coos Bay barge slip
- IKEA plans new outlet near Portland Airport
- US sees record trade with border partners
- Port of Seattle taps Evans as police department chief
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| OCTOBER 27, 2005 |
- Clarksons eyes $300m ship hedge fund
CLARKSONS is moving ahead with plans to start a shipping-only hedge fund. The aim is to secure returns of 15%-20% by high-risk trading strategies in both the dry bulk and tanker markets, primarily derivatives.
- SSY Singapore reshuffle sees founder Jones quit
THE founder of Simpson Spence & Young’s Singapore office, Chris Jones, has left after 14 years in a major reorganisation of the broker’s business in the region.
- Fredriksen swoops on Bergesen gas float
NORWEGIAN shipping tycoon John Fredriksen has waded in on compatriot Bergesen Worldwide Gas with a 300,000 share purchase as his rival returned to the public markets this week in Oslo.
- Blockades hit Spanish islands as fuel talks continue
SPANISH fishermen protesting over high fuel costs continued to blockade the country’s key ports throughout yesterday.
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| OCTOBER 26, 2005 |
- US reveals storm trade impact
NEW statistics released by the US Census Bureau highlight the profound changes in US Gulf Coast shipping flows in the wake of Hurricanes Katrina and Rita
- Shipping boom boosts Braemar results
BRAEMAR Seascope has announced an impressive set of 1H profits, having benefited from the boom in all shipping sectors
- Cozumel docks destroyed
THE docks on the Mexican Caribbean island of Cozumel have been virtually destroyed by Hurricane Wilma, according to Mexico’s ports boss
- RCCL triumphs over fuel hikes
ROYAL Caribbean Cruises rode higher ticket prices and gains from its First Choice Holidays stake to a record third quarter, despite ever-rising fuel costs
- Migrant Watch: US/Caribbean
THIS week's report on sea routes used by seaborne migrants, where possible incorporating news or statistics on apparent trends
- Aker Finnyards axes 165 workers
AKER Finnyards, part of Norway's Aker Yards, will lay off 165 employees from its Helsinki shipyard
- Spain: port blockades provoke crisis
- Australia to double efforts to clear wharves
- Golar LNG in share-swap deal
- InterManager to represent management
- Star Reefers bullish despite slight 3Q drop
- Birka to lay up Princess as losses mount
- Florida ports re-open
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| OCTOBER 26, 2005 |
- TSA Chief: Shippers must pay more
Trans-Pacific carrier group exec says shippers will have to foot the bill for infrastructure improvements needed to handle China boom.
- At Wesccon: Brokers, carriers discuss mutual issues
- Miami, Everglades ports reopen
- House panel mulls Byrd repeal
- At CSCMP: SoCal still tops for distribution centers
- Profit surges for BNSF
- Norfolk Southern profit up
- Dividend for Horizon Lines
- C.H. Robinson net up 45%
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| OCTOBER 26, 2005 |
- CSI membership for Colombo provokes disputes
Colombo’s new membership of the US-led Container Security Initiative has provoked transport-player disputes, attacking charges for inspections, and claims that the scheme could hit transhipments.
- Indian Sub-continent Regulations Services Terminal
- Charter-brokers: long period-market gone, for now
- New Delhi makes pitch for US$150bn US investment
- Busan port security upgraded to prepare for APEC Summit
- Shotguns seized at Kwai Chung
- Kolkata barge service cheaper than transhipment
- Hatsu Marine in line with Evergreen Group's fleet expansion plan
- Tianjin sees increased foreign trade
- Ningbo: 11m TEU forecast requires investment
- Australian terminal performance creeps ahead
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| OCTOBER 26, 2005 |
- Sea Star to add third ship
Jacksonville’s Sea Star Line is converting a ro-ro from sister company Tote to beef up the Puerto Rico liner trade.
- Genmar disappoints
New York owner earns 19 cents per share in third quarter, barely half Wall Street consensus estimate, on weaker hire rates and utilisation.
- Offshore boosts Transatlantic
Swedish ro-ro owner’s nine-month profit augmented by big contribution from icebreaking joint venture.
- SSY shakes up Singapore
Broker revs up gas and dry cargo in the Lion Republic and brings in younger blood.
- RCCL romps home
Cruise operator thrashes analysts' estimates for third quarter.
- SSN secures loan
Polish shipbuilder arranges first commercial borrowing since restructuring in 2002.
- More profit for LSC
Lithuanian cargoship owner increases third quarter profit as row over aborted privatisation goes on.
- Star upbeat on reefers
Norwegian player ramps up profit as period renewal rates rise.
- Fredriksen buys into BW
Tanker king takes stake in newly listed Bergesen gas outfit.
- Finnlines numbers droop
Strike action and costly bunkers cripple Finnish operator in first nine months of year.
- Canada holds three
Port state checks end in detention for Odjfell tanker and two bulkers in September.
- Courage splashes IPO cash
Taiwanese controlled bulker player makes first ship acquisition since listing in Singapore.
- Pain goes on for Srab
Swedish tanker owner still wading through red ink in first nine months.
- Suez Canal revenues jump
Middle East waterway sees year-on-year jump in revenues of nearly 15% on increased transits.
- Kuribayashi eyes slim profit
Interim results at Japanese ro-ro player expected to be in the black after company revises forecasts.
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| OCTOBER 26, 2005 |
- Maersk Sealand changes Hawaii documentation procedures
- Suez LNG NA joins Chamber of Shipping of America
- FedEx, DHL, Exel settle U.S. export violations
- Thai Airways' September cargo up 1.7%
- Hurricane Wilma postpones Air Cargo Americas Conference
- BNSF sees massive profit hike
- FMC reviews 3 OTI license applications
- Wal-Mart study says RFID improves availability of goods
- UPS poll finds Asian executives turn to outside supply chain managers
- U.S. senators threaten tariffs against Japan
- C.H. Robinson's 3rd-quarter net income up 44.8%
- University report compares power of ILWU, ILA
- ITS chooses Advent for terminal management software
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| OCTOBER 26, 2005 |
- SRAB still in the red
SRAB Shipping in Stockholm reports a pre-tax loss of SEK 7.4 million on a SEK 40.3 million net turnover ...
- Third Chinese handy-max for D/S "Norden"
Dampskibsselskabet "Norden" has, according to several reports, exercised an option for a third handymax bulk carrier at the Chinese shipyard ...
- Bryggen orders product tankers in China
Bergen-based owner/operator Bryggen Shipping & Trading – a wholly-owned subsidiary of Network Chartering – has ordered two 17,000 DWT product ...
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| OCTOBER 26, 2005 |
- Royal Caribbean shakes off bunker price woes for now
Cruise ship company announces record third quarter results despite rising fuel bills but is wary of future costs.
- Florida bunkering remains shut down
Miami and Port Everglades remain closed as bunker suppliers struggle to get operational.
- PDVSA Deltaven suspends Bahamas operations
Supplier advising that Freeport bunker supply suspended until terminal repairs completed following hurricane Wilma.
- DOE & API: Latest US inventory figures
US stocks of crude are up both on the week and on the year, while distillate inventories shrank last week.
- Multiple factors cited as St. Petersburg bunkers fall below $200
Heavy competition and fall-out from rise in export duty might explain why St. Petersburg offers the world's lowest bunker prices.
- Chinese energy shipper's margins expected to improve
Analyst expects Q4 profit margins to improve due to rising freight rates and falling bunker cost.
- Off-spec fuel cases confirmed in Singapore
A re-test ordered by the MPA in another DNVPS case has confirmed above-limit cat fines, as opposed to previously dismissed results.
- Rotterdam suppliers busy for end of month
- Australian ports hit by high fuel surcharge, technical glitch
International trade at Australian ports has been affected by higher bunker fuel surcharges and a major technical glitch.
- High fuel prices spark Spanish fishermen protest
Spanish fishermen protesting against hihg fuel prices blockaded Spain's Mediterranean ports yesterday.
- BP reports profit rise in Q3, 2005
BP reported a rise in Q3 profits despite sustaining hurricane damage to its rigs and refineries in the Gulf of Mexico.
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