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| OCTOBER 31, 2005 |
Shipping News
- Concrete action most needed in region's war on piracy: analyst
THE three littoral states bordering the Malacca and Singapore straits have to do more in enhancing maritime security, according to a Singapore-based security analyst who said that the 'eyes-in-the-sky' initiative was useful only to a point.
- US Senate sparks probe into cruise line deal
THE Senate unanimously passed a measure on Friday that would require an investigation into the controversial US$236 million deal to lease three ships from Carnival Cruise Lines for emergency housing after Hurricane Katrina.
- CIMC posts 29% dip in Q3 profit to 599m yuan
CHINA's CIMC, the world's top maker of shipping containers, posted on Saturday a 29 per cent dive in quarterly earnings, as rising steel costs took the edge off strong sales.
- China Shipping profits up 18% on cargo rise
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| OCTOBER 31, 2005 |
- China to invest CNY30b on Chongqing railway construction
- Mainland to waive tariffs on Macau products
- Jilin highways to stretch 50,000 km
- Dongning trade zone on Sino-Russian border starts operations
- Box clear out continues in Australia
- Union Pacific 3Q profits up
- Mechanical products lead exports from Manzhouli
- Dragonair boosts capacity to major Chinese cities for winter peak season
- Qantas relocates IT mainframes
- Continental Airlines adds non-stop service to Germany
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| OCTOBER 31, 2005 |
- Teamglobal Logistics, Shipco Transport tie up to combine synergies
- Global container lines see turbulent seas ahead
- VPT confident of successfully scaling still higher peaks of excellence
- International consultants to prepare strategic plans for each Major Port
- Panel to be formed to appraise public-pvt. projects worth over Rs 100 cr.
- FM wants states to reimburse their share of taxes to exporters
- SEZ units can now import fuel directly sans duty
- Kamal Nath holds out prospect of special fund to rejuvenate tea industry
- Infrastructure sector shows signs of improvement in last month of H1
- Fieo happy with credit policy, expects growth of textile sector
- Credit-linked capital subsidy scheme for small-scale units restructured
- CII to conduct 5-day certificate course on ex-im procedures
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| OCTOBER 28, 2005 |
- Fernandez Alonso new La Coruna port president
- Expobangla Logistics Limited joins United Shipping
- New round of privatisation for Budapest airport
- TFG adds rail services between German sea port and Berlin
- FedEx opens new distribution hub in Maryland, USA
- Russia seeking private transport infrastructure investments
- Management Dynamics acquires NextLinx
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| OCTOBER 30, 2005 |
- Transport infrastructure could hold-back Indian development
- Chemical tanker refloated in Scheldt
- Rina opens Korean plan approval office
- BV approves AMOS
- SCI orders 2 VLCCs
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| OCTOBER 29, 2005 |
- Hawaii Superferry contract now unconditional
- Aker Philadelphia lays tanker keel
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| OCTOBER 28, 2005 |
- Port of Kalama chosen for future electric power complex
- Intermodal sets new record for weekly US rail traffic
- Exel employee Alicia Chin wins freight forwarder honor
- Federal agencies unveil new maritime security plans
- Sea-Tac Airport police ready to ticket illegal parking
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| OCTOBER 31, 2005 |
- Eagle Bulk follow-up offer still fails to excite Wall Street bulls
THE glass remains half full in shipping initial public offerings, with Eagle Bulk’s follow-on offering undergoing a 15% cut.
- Lacklustre listing for Lloyd Fonds
Germany’s KG financier Lloyd Fonds continued the series of rather unsuccessful shipping-related IPOs.
- Transmed denies Chinese capesize sale
TRANSMED Shipping, the Athens-based dry bulk operator, has denied that there is a deal in place to sell the third and fourth ships in its lengthy capesize newbuilding programme in China.
- Broström’s Simonsson dismisses fears of ice-class rates meltdown
ICE tanker specialist Broström’s boss Lennart Simonsson is "not concerned" by fears that a deluge of ice-class newbuild deliveries will bring a rates meltdown.
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| OCTOBER 28, 2005 |
- Beta targets Nicaragua
TROPICAL storm Beta looks set to strengthen into a hurricane later today as it heads towards the Caribbean coast of Nicaragua, according to the latest advisory by the National Hurricane Centre (NHS)
- Arbitrator rejects EC banana proposal
THE arbitrator has rejected the latest European submission to impose a euro187 ($227) per tonne tariff for bananas imported from most favoured nation suppliers
- Clarkson plays down broker spat
PHILLIPE Van Den Abeele, managing director of Clarkson Securities, has stressed that there is no feud between his organisation and FFA specialist Imarex
- Resale deals cut into Essar earnings
NET profits at India’s Essar Shipping for its July-September quarter have fallen dramatically because of the sale of five of its tankers
- GE Shipping: Small profit and de-merger OK
GE Shipping, India's largest private shipping company, has posted a small profit increase for the July-September quarter, and is formalising the de-merger of its offshore arm
- NOL plans investment in India's port/rail
SINGAPORE’S NOL group has drawn up major investment plans in India's port and rail transport sectors
- Bird flu scare hits soymeal exports
- Box market still led by sentiment
- Aker Philly pursues German efficiency
- Ports count cost of blockade
- New training options for maritime workers
- Pasha in expansive mood
- DVB pumps up the volume
- Pacific Basin sells five vessels
- US-PR box rates may increase
- US food aid shipments battle brewing
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| OCTOBER 28, 2005 |
- Florida ports return to normal
Normal ship traffic has resumed at Miami and Port Everglades after Hurricane Wilma swept through the region this week.
- Canada extends rules for British Columbia port truckers
- Canada unveils new hours-of-service rules for truckers
- EU offers to slash farm tariffs
- Schubert to work with Jones Walker
- Monk promoted at Census
- BA World Cargo to expand European freighter network
- Profit slips at Wilh. Wilhelmsen
- WTO gives EU 7 months to reform sugar programs
- Yuan hits new high against dollar
- N.C. port to expand storage
- Nippon Cargo, AirBridge enter Japan-Europe pact
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| OCTOBER 28, 2005 |
- Carriers rebut claims of looming supply/demand imbalance
Shipping lines are furious at reports from a banker, that rates could collapse by up to 64.8% next year, calling the claims ‘rubbish’ and saying the analysis was ill-conceived.
- Maersk’s post-PONL ANZ services take shape
AP Moller-Maersk’s takeover of P&O Nedlloyd will see major changes to the way services operate between Australia, New Zealand, North America and Europe.
- Eyebrows raised by RPA director conflict of interests
- Strong demand forces extra loader on Atlantic service
- Trans-Tasman gap finally filled
- Colombo CSI spreads responsibility right through supply chain
- India must improve transport links to connect to GDP growth
- Gdansk terminal completes berth extension
- CI Awards 2006 entry deadline only one week away
- CSCL takes delivery of new 4,250TEU ship
- Gwangyang achieves mild throughput growth
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| OCTOBER 28, 2005 |
- Redelivery crisis?
Korea’s STX Pan Ocean is said to be threatening redeliveries after freights failed to live up to time-charter rates of a year ago.
- Essberger afloat
A grounded chemical tanker has been refloated on the Scheldt.
- OMI still hot for OMM
Connecticut owner rumoured to be authorising $70m more in shares buybacks after reducing float by some 20% to date.
- Still gold in them hulls
A remarkably strong price is being reported on a single-hull VLCC sale.
- Genmar sells another
Polembros takes single-hull aframax at $19m as buyers circle six double-sided units.
- Temas tops last year
Indonesian liner operator posts big jump in nine-month profits and revenues.
- Diana doubles dollars
Profitability of Greek bulk carrier fleet benefits from higher earnings by expanded fleet.
- Upgrade for Sovcomflot
Credit rating agency boosts view of top Russian shipowner in wake of rise in sovereign bonds.
- We are all doomed
Scary years are ahead for shipping, a top shipfinancier warned a pre-Halloween crowd in New York yesterday.
- Yang Ming moves up
Taiwanese boxship owner builds profit by 11% in first three quarters of 2005.
- Eagle swoops for $80m
US-listed dry bulk owner sells 5.5 million follow-on shares at $14.50 for reduced take in choppy public equity market.
- Rail sale saves TMM
Mexican tanker owner would have racked up nine-month loss without big gain from disposal of railway unit.
- ITF sticks with 10%
Executive board resists pressure to cut next year’s rise in AB benchmark to $1,550.
- Matson profits grow
Operating profits inch up at Hawaii specialist on higher cargo volumes, improved yields and cargo mix.
- Wartsila powers ahead
Marine engine orders double as shipbuilding boom continues but share price stalls as investors want more.
- Brostrom boosts earnings
Swedish tanker owner rides strong markets to higher pre-tax profit in first three quarters.
- Island row brews for Gotland
Swedish ferry owner delays financial report after state halts subsidy payment for services to Baltic island.
- Extra expenses hurt MMM
High price of bunkers and extra drydocking costs push Malaysian Merchant Marine to fourth quarter loss.
- CSAV builds profit again
Chilean container line goes from strength to strength over the first three quarters.
- Steady as she goes
Results at Belgian gas player Exmar tempered by high bunker costs and dry-docking expenses.
- Ow sets deadline
Ow Chio Kiat gives shareholders in Singapore Shipping Corp until November to accept buyout offer.
- Hamworthy nets LNG deals
UK-listed firm to supply reliquefaction plants for Qatar gas carriers building at Hyundai Heavy Industries.
- Profits edge up at GSI
Improving shipbuilding market helps lift financial performance at China’s Guangzhou Shipyard.
- CMB escapes rate decline
Charter coverage helps Marc Saverys' Bocimar maintain profitable third quarter.
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| OCTOBER 28, 2005 |
- Wilh. Wilhelmsen's 3rd-quarter net income down 10%
- TACA to delete L.A.-Long Beach congestion surcharge
- USSEC extends bunker charges to December
- DHS releases two maritime strategy documents
- China Shipping receives 4,250-TEU ship
- MarAd approves tanker scrapping
- Colography: Rising jet fuel costs eroding air freight market share
- BA World Cargo to expand European short-haul freighter network
- Minneapolis-St. Paul adds new runway
- Campbell to head Maryland Aviation Administration
- UP profit skyrockets 83%
- FedEx Freight settles suit for $500,000
- DSC to provide fast logistics for Wal-Mart
- Monk promoted to assistant director for economic programs at Census
- South Florida port operations close to normal
- South Carolina ports’ Groseclose named AAPA chairman
- Ceres makes two senior appointments
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| OCTOBER 28, 2005 |
- All time high for Scandlines
In its delayed annual report for 2004, Scandlines reports a DKK 558 million profit after tax on a DKK 3.7 ...
- Good times for Broström
The third quarter was significantly better for the Göteborg based tanker operator Broström this year compared to last year. For ...
- Aker Yards has order backlog of 108 vessels
Aker Yard had 108 vessels worth NOK 35.5 billion (EUR 4.55 billion) on order at the group’s 13 yards at ...
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| OCTOBER 28, 2005 |
- PDVSA Deltaven resumes Freeport barge bunkering
Venezuelan supplier announcing a return to supply operations in the Bahamas following hurricane Wilma.
- Outlook uncertain for 1.5% bunker fuel availability
Refiners predicting availability shortfall and $60 price premium as low-sulphur restrictions are mooted in North America.
- MMM records Q4 loss, full year profits down
Bunker prices largely to blame for disappointing results.
- St. Petersburg bunker bonanza over?
On the surface it looks like below $200 fuel oil is already history.
- MPA introduces SMS applications for STS bunker operations
Singapore's Maritime and Port Authority says updated regulations will help expedite STS approvals.
- Vopak announces continued 2005 profit gains
Global terminal giant saw Q3 results positively influenced by hurricane disruptions to US oil industry.
- Additives: Lubrizol posts strong Q3 and 9 month results
Lubricant and fuel additives manufacturer Lubrizol suffered less from hurricane Rita than competitor, benefiting the firm.
- Rotterdam, Antwerp markets a little up with crude
- Hong Kong: 180 cst market tight, suppliers cautious
Suppliers not keen to offer 180 cst as supplies begin to run low.
- Cold winter forecast drives up oil prices
Oil prices rose on Thursday following forecasts of cold winter in the US Northeast.
- ExxonMobil, Shell record new record profits
As news of new scale of oil major profits filters through political corridors, US Congress Republicans call for new controls on cash-flush oil companies.
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