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| NOVEMBER 2, 2006 |
Shipping News
- PwC S'pore lauds timing of Maritime Finance Incentive
THE government's Maritime Finance Incentive scheme could not have come at a better time as Singapore hones its competitive edge to become a leading international maritime centre.
- Evergreen Q3 profit takes a beating
TAIWAN's Evergreen Marine Corp, the world's third largest container shipping line, on Tuesday posted a sharp decline in profit for the third quarter from a year ago due to oversupply, lower freight rates and investment losses.
- Sandvik launches $23m high-tech logistics centre
THE Singapore regional head office of global industrial group Sandvik launched its new, $23 million, state-of-the-art logistics centre at the Airport Logistics Park of Singapore yesterday.
- Kenya sentences Somali pirates to 7 years in jail
- Royal Caribbean's Q3 profit down 8%
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| NOVEMBER 2, 2006 |
- Grand Alliance reduces slack season transpacific capacity
- Cosco boss meets Maersk Mc-Kinney Moller
- Hanjin, 'K' Line, Yang Ming, UASC to launch new SINA service
- Panalpina's net income rises 44pc to US$95m over first 3 quarters
- CMA CGM to form IT unit with IBM
- Korean Air plans to make China 2nd home market
- UAL posts Q3 net profit of $190m
- Northwest reports Q3 net loss of US$1.2bn
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| NOVEMBER 2, 2006 |
- Interworld Shipping Services commences operations
- Containerships to benefit from Panama Canal expansion
- EU pushes through 24-hour cargo rule despite concerns
- Angels have arrived in Gujarat!
- UK wants more financial leeway to develop infrastructure sector
- More countries seek trade links with India
- Polish, German investors seek business opportunities in India
- Canada seeks deeper access to Indian market
- Tea imports up by 28 pc in January-August
- Blockade halts port activity at Chittagong
- Lack of wheat logistics solutions stretch ports’ handling capacity
- Port workers want to retire only at 60
- Glimmer of Hyderabad Gems SEZ
- RBI gives exporters a better deal
- Govt baulks at lifting sugar export ban
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| NOVEMBER 1, 2006 |
- BAWC appoints UK/Ireland sales manager
- Vietnam planning new container port at Khanh Hoa
- United generates profit in Q3/2006
- Polish PKP Cargo to become a logistic operator
- TNT to divest itself of TNT Freight Management
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| NOVEMBER 1, 2006 |
- Pirate attacks "decreasing"
- Most single-hull tankers "East of Suez"
- Profit share perils
- MSC chairman dies
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| NOVEMBER 1, 2006 |
- Victoria Shipyards gets BC Ferries reflag job
- Wartsila boosts thruster manufacturing
- Seafarer health checks cut P&I claims
- Promotion for John Snyder
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| NOVEMBER 1, 2006 |
- Port of Bellingham releases draft strategic budget for 2007
- NAFTA partners see gains in surface transportation count
- Union Pacific Railroad looking for new empoyees
- Fuel oil spill reported at Terminal 6 in Portland
- Dirt embankment completed for Sea-Tac's third runway project
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| NOVEMBER 2, 2006 |
- Shippers fight back in post- conference box battle
European shippers have come out fighting in a hard-hitting response to a customer survey conducted by the European Liner Affairs Association on what should succeed the conference system when it is axed by Brussels.
- Somali men guilty of piracy jailed for seven years in Kenya
TEN Somalis detained by the US Navy off the coast of Somalia and convicted of piracy by a Kenyan court were jailed for seven years on Wednesday, Reuters reports.
- China Merchants cleared for $734m IPO
SHANGHAI regulators have approved plans by China Merchants Energy Shipping to launch a Yuan5.8bn ($734m) initial public offering, writes Keith Wallis in Hong Kong.
- Court of Justice set to call time on ferry ‘booze cruises’
A RELAXATION of rules affecting cross-border sales of alcohol is expected later this month which could affect ferry companies benefitting from so-called "booze cruise" shopping day trips, as well as hitting government revenues from duty payments.
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| NOVEMBER 1, 2006 |
- Hyundai to build new steel plant
SEOUL 1 November – South Korean shipyards' insatiable appetite for steel will be eased when a huge new steel plant is opened for business in 2011
- High speed vessel project closer
PLANS to develop a network of high speed ro-ro and passenger services using Boulogne as a hub appear to have moved forward
- Maritrans drops on higher costs
THIRD quarter profits at Maritrans, the Jones Act tanker and barge operator, fell 38% on higher expenses and lower fleet utilisation
- GenMar hikes time cover
GENERAL Maritime Corp more than tripled its profits on much higher rates and has substantially increased its time charter coverage going forward
- Colombo seeks supply ships
SRI Lanka plans to buy more ships to supply the northern Jaffna peninsula, which has been cut off after renewed fighting between Tamil Tiger rebels and government forces
- Screening saves money, club claims
SHIP owner members of the American P&I club have made significant savings as a result of pre-employment health screening of seafarers, it is claimed today
- Tanker damaged in collision
- Transneft to control Aegean pipeline
- MISC strengthens crude oil capacity
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| NOVEMBER 1, 2006 |
- Outlook sees weaker U.S. imports ahead
Analyst predicts favorable global economic outlook but tells conference that the dollar will decline in value against major currencies through 2008, which will curb U.S. imports.
- $10M settlement for importer
- Lines: Shippers back data-sharing
- Dubai eyes Halifax: Report
- Seaway chief says tolls unlikely
- Emirates adds China-U.S. service
- New MOL Asia-India shuttle
- Erickson to head History of Containerization Foundation
- World airfreight growsv
- Coast Guard's Holmes to lead LA port operations
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| NOVEMBER 1, 2006 |
- Kerala drivers strike against "speed governors"
Cochin Port container handling and exports have been affected by a protest strike by truckers and other drivers objecting to central government’s order for mandatory speed governors.
- Charter parties take it as it comes, leaving space for fast turnaround
As results announcements keep up a steady flow of pessimistic pronouncements about forward charter rates, owners and charterers are keeping contracts short, trusting to their expectations, according to a broker.
- Four global firms shortlisted for JN Port dredging
- Kaliningrad prosecutor investigates docker’s death
- MOL to reshuffle its west India-Singapore services
- Emirates to charter slots from AUX
- HMM and K Line to expand Asia-Europe fleet size
- Hyundai Samho receives order to build four boxships
- Rotterdam reefer store sees road to higher throughput through Halal
- Containership collides with tanker near South Korea
- Foreign exchange share of Russian IPOs may be further restricted
- Fesco has Wallen help manage its foreign-flagged boxships
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| NOVEMBER 1, 2006 |
- Merger backing muted
Participants in TradeWinds' poll on the merits of insurance club mergers have mixed views but appear unenthusiastic about a Swedish Club – Skuld link up.
- Genco profits inch up
But Georgiopoulos bulker operation sees earnings per share dip compared to a year ago.
- Mystery six-pack
ThyssenKrupp’s stock is up after its yards bagged orders for six 3,400-teu boxships worth well over $300m.
- ESL adds China-US link
Emirates Shipping line is to take space on ZIM and Italia Marittima’s US-Far East service.
- China Shipping shedding bulk
China Shipping Development Corp will issue convertible bonds to buy its parent’s dry-bulk fleet.
- Finnlines ro-ro crew missing
At least six of a crew of 14 have been saved after clinging to a Finnlines-chartered ro-ro in the Baltic in heavy weather.
- Donbas in Gdansk talks
Ukrainian steel maker could follow Italy’s FVH by taking substantial holding in Polish shipyard.
- More work for Vietnam
Dung Quat shipyard has won two more 54,000-dwt bulker contracts as it begins work on an aframax tanker.
- PacBasin talks up the market
Investors can judge for themselves whether they were right to bump the share price up 8%.
- Numbers up at Tropical
Rick Murrell-led Tropical Shipping has again delivered an outsized chunk of operating profit for parent Nicor.
- First stronger in nine
Taiwanese bulker owner First Steamship logs big rise in nine-month profit.
- Ferry protest man jailed
New Zealander pleads guilty to endangering public by obstructing “speeding” ships.
- CSDC shares halted
Stock frozen pending ‘major transaction’ rumoured to be large bulk purchase from parent China Shipping.
- Japan wants more Filipinos
Owners look to recruit extra 8,000 for 500 newbuildings as Philippines aims to boost officers.
- ABG back on track
Second quarter profit rises at Indian yard after tough start to year in first three months.
- Arpeni on right track
Indonesian tanker and bulker owner moving in right direction to meet projected full-year earnings figure.
- Work dwindles at ADSB
Abu Dhabi shipbuilder's profits plummet on reduced workload and higher expenses.
- Charters curb Maritrans
Cost of additional tonnage pushes down US tanker firm’s nine-month profit ahead of OSG takeover.
- Anchor-handling double for Havila
Norwegian owner reveals new order at Havyard Leirvik, as nine-month profits soar.
- Somali pirates jailed
Court in Mombasa hands down seven-year jail terms to ten pirates caught by US navy off Somalia earlier this year.
- Fredriksen gets bloody nose
Bid for Eastern Drilling blocked over allegations of collusion between SeaDrill and Carnegie.
- Sister act swansong
Two Fred Olsen sister companies hit high notes in final interim statements before results become consolidated.
- MOL goes it alone
Japanese boxship line ditches Sea Consortium to re-launch feeder run from Nhava Sheva, India, to Singapore.
- Fisher gets a lift
UK tanker and marine services group bolts on yet another small company, this time Norwegian offshore crane specialist Gjerde.
- Filipino payouts checked
Shipowners relieved as Philippines makes lower compensation awards and re-considers 120-day verdict.
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| NOVEMBER 1, 2006 |
- ESC dismisses ELAA survey as unlawful
- Emirates to join Asia/U.S. East Coast of Zim, ITS
- Tropical Shipping reports increased revenues, operating profits
- EWL, Fyffes in partnership
- Eimskip buys Pacific Tramper Services
- MOL upgrades service to India
- IMO's Ponomarev, 41, dies
- Trucking association denounces toll roads
- Kansas City Southern's 3rd quarter profit down 72%
- Toll sells Pacific National rail network to Australia government
- Hyundai increases frequency of European intermodal service
- U.S., Rwanda begin trade enhancement talks
- Avion now has 85.8% of Atlas
- "K" Line Logistics (Australia) established
- FMC reviews 8 OTI applications, revokes 10 licenses
- Report says DP World eyeing Halifax
- Port of L.A. hires former Southern California Coast Guard captain
- Coast 2000 to extend Vancouver container yard
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| NOVEMBER 1, 2006 |
- Fewer pirate attacks at sea
A total of 174 pirate attacks were reported in the year to September, down from 205 in the same period ...
- NSA and unions agree NOR settlement
Unions and employers have agreed a NOR settlement for the offshore fleet and ferries in international trade. Agreement was reached ...
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| NOVEMBER 1, 2006 |
- New York resupply delayed further
Suppliers hit tank bottom as new product not due until next week.
- Fuel costs fingered again at Evergreen
Third quarter results from Taiwanese shipowner showing the strain of rising costs and falling rates.
- Petrobras closed tomorrow
- US oil product stocks fall more than expected
Stocks of key fuels drop despite increased refinery output amid strong demand figures.
- Bunker spill damages award 'out of all proportion' with real costs
Ukrainian court awards $24.5 million against shipping company involved in 75 mt bunker spill.
- Key players 'poised' to trade in Fujairah fuel oil futures
Contract will "need to be marketed aggressively" to succeed.
- Oil traders edgy ahead of US stock data
Surveys show expectations for build in crude, drop in products stocks due to refinery maintenance.
- Bunker fuel pumped off grounded vessel
No reports of any spillage as salvage operation moves ahead.
- Rotterdam market stable on Wednesday morning
- Japan: September bunker sales rise but remain down on year
September was the second consecutive month with a year-on-year drop in Japan's bunker sales.
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