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| NOVEMBER 3, 2006 |
Shipping News
- Berlian Laju Tankers eyes thriving offshore sector
FRESH from its dual listing in Singapore, Indonesian-based Berlian Laju Tankers is eyeing the buoyant offshore sector with the aim of growing its nascent FPSO chartering business to make up 10 per cent of revenue within three years, as it pursues a multi-pronged growth strategy.
- Cosco sees better rates, strong demand
CHINA Cosco Holdings Co Ltd, an arm of China's top shipping conglomerate, expects a sustained recovery in global container freight rates and foresees demand staying strong in 2007, despite fears of a capacity glut.
Admiralty Casebook
- Solas changes in the offing after ship fire
THE UK Department of Transport last week published its full and final report into the fire onboard the cruise ship Star Princess after a seven-month investigation.
Port Shots
- Port Shots
HYUNDAI Heavy Industries Co, the world's largest shipbuilder, yesterday reported a 21 per cent increase in third-quarter net profit, boosted by a gain in new orders.
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| NOVEMBER 3, 2006 |
- STX Pan Ocean to start Gulf Asia service
- 'K' Line Logistics sets up shop Down Under
- APL CEO honoured for raising US transport inadequacies awareness
- DHL Global Forwarding appoints Sam Ang vice president
- Shanghai International's throughput up 23.2pc in Q3
- MOL boosts India service
- ANA leans towards conversion
- AA welcomes HK-Ethiopia air services agreement
- UPS to move Poste Italiane's global express shipments
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| NOVEMBER 3, 2006 |
- 43 pc rise in ABG Shipyard’s Q2 net profit
- Norway keen on maritime pact with India
- Essar Shipping Q2 net profit rises by 24 pc
- India again to seek WTO probe into US dumping duty on shrimp
- Addl DGFT allays fears of metal scrap import curbs
- Singapore offered 250 more items under CECA’s tariff liberalisation scheme
- JNP records box handling growth of 20 pc in April-Oct.
- Govt initiates steps to clear wheat arrivals from ports
- Baalu exhorts Major Port Trusts to go that extra mile to increase handling efficiency
- CWC presents govt dividend cheque of Rs 7.86 cr.
- Ministry starts online chat on SEZ policy
- Inclusion of short-term borrowings in higher Tier-I capital limit may prove setback for exporters
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| NOVEMBER 2, 2006 |
- Hassan new Emirates area manager Switzerland
- Joint CMA CGM/IBM venture
- BAWC to serve Shanghai and Hong Kong
- Russian Railways guilty of restricting competition
- TNT grows in Q3/2006
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| NOVEMBER 2, 2006 |
- MOL's new India service
- Aegean orders newbuilds in China
- PEME "saves" American Club owners US$6m
- Mission asks ports to help seafarers
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| NOVEMBER 2, 2006 |
- PGS employees seized offshore Nigeria
- Putin advocates shipbuilding "protectionism"
- Trailer Bridge to move military cargo
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| NOVEMBER 2, 2006 |
- Greenbrier breaks records with fiscal year net earnings
- NCL Corporation orders two cruise ships from Aker Yards
- Washington State Ferries to offer fee-based Wi-Fi service
- Configuration completed for Boeing 747-8 freighter
- Trinity Industries reports gains during third quarter
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- Industry bulls see Chinese demand as market saviour
BUOYANT prospects for the bulk and container shipping markets, especially in China, were laid out by a raft of speakers at the World Shipping (China) summit yesterday.
- Co-operation is key among global players, says Ladyman
CALLS for greater co-operation among players in the global shipping industry, support for seafarers and the development of a global navigation system were made yesterday by Britain’s transport minister Dr Stephen Ladyman, writes Keith Wallis in Shenzen.
- BP puts green policies first
BRITISH tanker giant BP Shipping, in a radical move to tackle its "huge" emissions impact on the environment, is to put "green" chartering at the heart of its operations.
- Suez Energy on course with Florida LNG plans
Suez Energy’s North American unit has received a preliminary green light from the US Coast Guard on its application to build a liquefied natural gas deepwater port in Florida, Reuters reports.
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- EC warns liner conferences
BENALMADENA 02 November – Liner conferences face serious penalties if they ignore a new European Commission regulation banning traditional price-fixing agreements as being anti-competitive, warns competition expert Jorge Santiago Neves
- Spot tankers fuel Teekay
TEEKAY Shipping nearly doubled earnings in its third quarter, with revenues driven by its spot tanker segment
- Brazilians angry over rate increase
SHIPPERS in Brazil vented their fury this week at the $200 per teu rate increase imposed by four shipping lines on services between Brazil, the US, Asia and Europe
- OSG rates rise on trading shift
OVERSEAS Shipholding Group's earnings rose 26% on higher rates as shifting trading patterns from Venezuela and West Africa hiked tonne-mile demand
- OSG sets stage for massive settlement
- Managers advised on 120-day rule
- Piracy report biased, says Chittagong
- China Shipping in ship transfer deal
- Germans show short-sea frustration
- Stowaway drowns in Newark drama
- Arctic navigation 'still not plausible'
- BLT struggles on Singapore debut
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| NOVEMBER 2, 2006 |
- U.S. ports escape peak congestion
Nation's retailers say port, rail and trucking industries made it through the busiest period of the year without any significant box congestion.
- West Coast containers fall from August peak
- NOL halved profit in Q3
- Orders boost Hyundai Heavy
- Stowaway presumed drowned at Port Elizabeth
- Security a tough sell to top managers: Survey
- LAX cargo up 11%
- Profit for United Airlines
- i2 income stumbles
- FedEx buys India partner
- Box volume up at Nehru
- Lines set St. Petersburg fee
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| NOVEMBER 2, 2006 |
- UPDATED: Net effect of NOL's rate slump and rising costs is crash in profits
Neptune Orient Lines reported a 53% year-on-year slump in its third quarter net earnings today, as the rate and cost squeeze continues to put pressure on carriers’ income.
- Crewman presumed dead as Swedish ship sinks in Baltic storm
Swedish rescuers have called off the search for the last missing crewmember of the 431 teu ro-ro Finnbirch, which sank in the Baltic Sea off the Swedish coast last night.
- Jakarta promises incentives to Lamong Bay investors
- COSCO confident it can win Greek port open tender says Capt Wei
- Kerala takes action to keep cargo flowing in face of trucker intransigence
- Chittagong Port chairman disputes port’s place in piracy rankings
- Paranagua dredging dispute sees dredgers accuse port authority
- Carriers say rate recovery will persist in 2007
- Virginia Ports Authority set to unveil new executive director
- Breakdowns hit Australian trades as volumes hit seasonal highs
- Toll has six buyers for PN stake
- Fesco creates vertically-integrated rail unit
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| NOVEMBER 2, 2006 |
- Seaspan raises $200m
Container line prices 10m shares at $21.50 to fund contracted newbuildings.
- Maritrans deal near
Florida company can retire this logo later in month if shareholders vote goes as expected.
- $37m
That is the amount OSG has now set aside to settle its waste-oil probe with US, dwarfing previous record payment of $25m by Evergreen.
- Three more from STX
OSG is taking trio of Korean products newbuilds from Greek owner Capital Maritime on 10-year bareboats for 2008 delivery.
- Sovcomflot to quit Moscow
Russian tanker owner plans to get close to the sea with new Venice of the North headquarters.
- Faint praise for OSG
Tanker owner’s third quarter profit soars but not as much as market had expected.
- Kodja Bahari in cry for help
Indonesian yard begs government to help find finance to build eight tankers.
- GulfMark makes record profit
US offshore ship player posts best ever nine-month result as boom year continues.
- NOL worse by half
Profits down 51% in first nine months for Singapore containership operator as freight rates fall and bunker prices rise.
- Rigs jack-up SembCorp
Five-fold increase in rig building turnover pushes Singapore shipbuilder to one-third increased profits in latest quarter.
- Stowaway 'drowns' in NJ
Three captured in Port Elizabeth, fourth feared drowned in desperate escape bid.
- Pinky not so perky
Bharati-owned shipyard told to stop work on new yard in environmentally sensitive Goan village.
- Jinhui back in Japan
Acquisition-hungry bulker owner signs $61m deal for two supramaxes at Japanese yard Tsuneishi.
- HHI higher in third quarter
Korean shipbuilding giant posts strong profit to September on back of higher ship prices.
- Ro-ro sinking claims two
Crew member dies in hospital while another presumed dead as search called off after Finnlines-chartered ro-ro sinks off Sweden.
- Victoria wins BC upgrade work
Canadian yard seals deal to modify vessel replacing tragic Queen of the North ferry.
- Forex lifts Teekay LNG
Teekay gas carrier spin-off sees 40% jump in third quarter profits on foreign currency gains.
- Calling International Rescue
UK marine group James Fisher to buy the country's worldwide submarine rescue assets, which it already manages for the Royal Navy.
- Wilson misses spot again
Third quarter income off target as spot rates weaken though revenues increase on back of vessel purchases.
- Genco profits inch up
But Georgiopoulos bulker operation sees earnings per share dip compared to a year ago.
- Minoan may keep Hellenic stake
Greek ferry owner’s directors reportedly undecided on sell-off of 33.3% of another big domestic operator.
- Teekay doubles its money
US-listed tanker owner sees third quarter net profits jump to almost twice those of a year ago.
- B+H stumbles
Costs of expanded fleet takes its toll on third quarter profits at US-based tanker and OBO owner.
- ESL adds China-US link
Emirates Shipping line is to take space on ZIM and Italia Marittima’s US-Far East service.
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| NOVEMBER 2, 2006 |
- Lower rates see APL's profit slump 66% in 3rd quarter
- Higher rates lift tanker companies’ earnings
- MTMC awards Puerto Rico contract to Trailer Bridge
- Erickson new chairman of History of Containerization Foundation
- Qantas backs A380 by taking options for eight more
- TAM orders four 777-300ERs from Boeing
- UAL posts $190 million 3rd quarter profit
- IATA: Air freight growing below trend
- Lufthansa to add Busan flights
- Pilot Air scores record revenue
- Continental's cargo up 1.1% in October
- Carmichael stumps for states' power on high-speed rail development
- U.S. Chamber report endorses GSP renewal
- CBP extracts $10 million settlement from Pioneer Speakers
- Samsung joins container security device partnership
- Jacobson signs API for freight bill imaging
- APM Terminals buys 61% of Dunkirk terminal
- Report: Oakland-Sacramento barging plan needs taxpayer support
- SCT commissions mobile crane for new feeder berth
- Shipbuilding boom lifts Hyundai Heavy earnings
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| NOVEMBER 2, 2006 |
- Bredford Dolphin back in tow
Drilling rig Bredford Dolphin, which broke its tow in hurricane winds in the North Sea Tuesday evening, was back in ...
- 13 rescued when Finnbirch sank in severe weather conditions
The Swedish-flagged ro-ro vessel Finnbirch sank yesterday evening east of Kårehamn off Öland. There were 14 crew members ...
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| NOVEMBER 2, 2006 |
- BP to cut ship emissions, vessel speeds
Tanker company moving to address environmental impact after 'incredible' air pollution figures.
- Montreal gets avails boost
Supplier returning to market despite storage tank leak.
- Panama offices closed Friday, Monday
- Wärtsilä's Q3 pre-tax profits nearly double
Wärtsilä says new vessel tonnage is approaching record and that high oil prices favour fuel oil power plants.
- NOL sees profits fall as bunker prices continue to bite
Group’s bunker costs for year to date up $183 million compared to 2005.
- Guernsey: Marine fuel taxation a big blow
Exemption of diesel from new tax regime not yet certain.
- Taiwan's refiner producing less bunker grade material
Fuel oil imports continue as CPC works to meet bunker demand.
- Rotterdam market remains stable into Thursday morning
- Singapore fuel oil inventories jump
Flurry of cargo arrivals sees stocks climb from eleven month lows.
- BIMCO weighs into MARPOL Annex VI debate
Shipping association advocates using distillates in SECAs and ports while allowing continued use of high sulphur bunkers at sea.
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