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| DECEMBER 11, 2006 |
Shipping News
- Strong growth for Mid-East shipyards over next 5 years
THE Middle East will require 130 floating production systems over the next five years, spurring huge growth in regional shipyards and offshore repair facilities, according to an industry analyst.
- China's top port builder raises US$2.1b in IPO
CHINA Communications Construction Co , the country's top ports builder, raised US$2.1 billion after pricing its Hong Kong initial public offering at the top end of an indicated range, sources familiar with the deal said on Saturday.
Admiralty Casebook
- Late redelivery damages upheld
A COURT in England recently upheld an arbitration award in favour of a vessel owner for almost US$1.4 million as damages for loss of future profits due to the late redelivery of its vessel by a charterer.
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| DECEMBER 11, 2006 |
- Japanese transport ministry puts conferences under critical review
- NYK to appoint non-Japanese executives to lead foreign operations
- Rizhao's volume to exceed 100m tons from Jan-Nov '06
- Shanghai Shipping Exchange launches 24-hour portal
- Tianjin Consol launches UK freight forwarding service
- East London calls for new container terminal for South Africa
- Houston's Bayport terminal opening delayed until January
- India's Tata Steel and NYK set up JV shipping company
- Lufthansa Cargo boosts security measures
- Indian Airline and Air India to integrate cargo operations post merger
- Dublin airport sells 3pc stake in its Hamburg counterpart
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| DECEMBER 11, 2006 |
- ECL President exudes optimism over JV with Puyvast Maritime India
- CSL delivers 9th fire-fighting tug to Jeddah port
- Shreyas mulls fund for acquisitions
- GE Shipping contracts to buy product tanker
- India rejects Asean proposal to reduce negative list
- Merchandise exports poised to cross $ 300 bn in 2006-07
- US FDA move may benefit herbal drug trade
- India, Pakistan may jointly register basmati patent
- India, Pak decide to augment rail freight traffic
- Optimistic market projections prompt Airbus to invest $ 1 bn in India
- Plan paper wants safeguards against SEZs' misuse
- CII seeks rationalisation of peak duty rate at 10 pc
- Peak Customs duty rate may be cut to 10 pc in 2006-07 Union Budget
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| DECEMBER 8, 2006 |
- Hartman new KLM CEO
- Evergreen companies with single brand name
- Alitalia to be privatised
- Russian TransGroup to acquire automobile transportation wagons
- Bendix Transport takes over Boje Andersen Spedition
- 45-foot container still allowed on European roads
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| DECEMBER 10, 2006 |
- BV still intent on buying GL
- EC looks to market Galileo system
- UK Club launches European subsidiary
- ESPO contests EC dredging policy
- Tanker damages berth at Milford Haven
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| DECEMBER 9, 2006 |
- "Structural flaws" in first National Security Cutter
- Derecktor books another ferry order
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| DECEMBER 8, 2006 |
- Oceania Vessel Sharing Agreement making changes to vessel schedules
- Thanksgiving holiday hits weekly rail freight numbers
- Last chance to apply for MIAS scholarships
- TT Club plans to offer nuclear/bio-chemical coverage
- Marcon brokers sale of new tug supply vessel
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| DECEMBER 11, 2006 |
- GL attacked by shareholders as BV pledges to increase offer
Shareholders of Germanischer Lloyd launched "aggressively worded attacks" on the management board during a weekend meeting, shipping sources have told Lloyd's List.
- LR makes move in Greece with Hellenic tie-in
LLOYD'S Register and the Hellenic Register of Shipping are near to tying up a closer relationship, with both parties looking for mutual benefits, writes Hugh O'Mahony.
- US Secure Freight programme takes off
THE US government must show "urgency" in protecting the country from nuclear attacks, said Department of Homeland Security secretary Michael Chertoff as he launched the the Secure Freight Initiative at the weekend.
- Jacques Saadé wins gagging order against brother Johnny
CMA CGM chairman Jacques Saadé has won an interim order in the English High Court against his brother Johnny, who has been engaged in a long and bitter dispute over ownership of the French shipping group.
- Turkish offer on Cyprus ships hits EU barrier
FINLAND, holder of the European Union presidency, has said a Turkish offer to open one port to Cyprus ships did not go far enough and it expected member states this week to agree on a partial freezing of accession talks with Ankara.
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| DECEMBER 8, 2006 |
- GL shareholders ask for more time
HAMBURG 08 December ' Germanischer Lloyd shareholders have asked for more time and more information about the class society's business prospects as yet another takeover bid was made for GL
- Bidding closes on Western India yard
SIX or seven bids have been received by today's deadline for financially-troubled Western India Shipyard in Goa
- German owners want manning flexibility
GERMANY'S ship owners are fighting for a relaxation of the country's manning provisions as they gear up to bring more ships under the German flag
- Shipbuilding equipment tax cut mooted
THE Indian shipping ministry is urging the country's finance ministry to cut the Customs duty levied on imported shipbuilding equipment
- Dutch port slated over Ivorian poisoning
AMSTERDAM port authorities have been criticised by a local inquiry for their role in a chain of events that led to 10 people dying and thousands falling ill in the Ivory Coast
- Bad weather delays Channel crossing
BAD weather is continuing to lash the UK, resulting in further delays to ferries and to the Eurotunnel freight service
- Hanjin transfers assets to fund expansion
- Morocco reform still has critics
- BC Ferries tax hit blasted as 'appalling'
- Crew rescued as ship catches fire
- Odfjell raises funds in Singapore
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| DECEMBER 8, 2006 |
- U.S. air cargo growth slows
October was the slowest month this year for air cargo growth on U.S. airlines, as freight, express and mail edged up less than 1% year-on-year.
- "Active" hurricane season forecast for 2007
- Farm export prospects improve
- China to lead air cargo by 2025: Airbus
- Seaspan buys Maersk ship
- Miami airfreight increases
- Nober joins BNSF
- Intermodal pioneer J.B. Hunt dies
- India plans big investment in small ports
- NYK in steel bulk venture
- Kandla terminal to open
- Jeffboat workers retain union
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| DECEMBER 8, 2006 |
- Former PONL director oversees breakthrough in Betuwe toll discussions
A breakthrough in the Betuwe Route rail toll stalemate was struck late this afternoon thanks to the mediation of former P&O Nedlloyd director Rutger van Slobbe.
- Secure Freight Initiative will protect US against atomic weapons
Launching the Secure Freight Initiative yesterday Department of Homeland Security secretary Michael Chertoff said government must show "urgency" in protecting the country from nuclear attacks.
- South Carolina offers shippers tax credits for increased volumes
- JICT shows commitment to staff benefits to pacify angry dockers
- Tunnel works see more delays to the Betuwe Line inauguration
- RCL's agent demands his box back from Customs
- CIMC makes second Burg acquisition attempt
- Alliances' ECS service suspended pending changes
- Lötschberg base tunnel on track for summer opening
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| DECEMBER 8, 2006 |
- Aegean soars
Georgiopoulos-powered Greek bunkering venture trades up 12% after top-notch IPO pricing.
- At a loss
Analysts put coal in the Christmas stocking of Evangelos Pistiolis in projecting how his Top Tankers will do in 2007.
- Buying or selling?
DryShips has registered for sale $255m worth of shares controlled by Economou -- who has been buying.
- Guardsmen rescue tug crew
One injured as waves batter vessel off of Texas coast.
- BV to boost offer
French class society says it will react to competition from other suitors for competitor Germanischer Lloyd.
- Aegean nails it
Bunker operator's New York offering prices at a fulsome $14 a share with the help of Peter Georgiopoulos' backing.
- Third quarter slip at NSCSA
Saudi VLCC and chemical carrier owner posts lower earnings to 30 September, despite revenue jump.
- Jutha to jump in 2007
Thai multipurpose owner expects big revenue gain next year as it renegotiates charters.
- West goes for 5%
Modest increase despite cash call to refinance confounds P&I market.
- Irish Sea crew win
ITF wins pay deal for Norfolkline ship and others warned over cheap labour.
- Poland agrees yards deal
European Commission approves privatisation plan, but no word yet on whether yards can keep $1.6bn state aid.
- UK Club goes European
Largest P&I mutual sets up new subsidiary to cover Italian and Spanish fleets.
- Opec cutting again
Exporting cartel will remove equivalent of suezmax cargo from market every two days over next month.
- Dragon set to bite
Megabroker Aon warns of Asian marine insurance market's hunger for growth.
- Troms debuts at Kleven
Norwegian owner places first order at domestic shipbuilder ' a $58m supply ship.
- Navios earmarks two more
Bulk operator confirms it will convert more purchase options in the new year as it fixes the Navios Primavera on long term charter.
- Deep Sea sets deadline
Move to Cyprus virtually rubber stamped by major shareholders, but others have until 15 December.
- Another one bites the dust
Thailand's Precious Shipping offloads seventh old bulker in a month as fleet renewal continues.
- Wartsila snaps up Schiffko
Engine builder is acquiring German ship design outfit to aid its growth as a total solutions provider.
- Seadrill hits paydirt
John Fredriksen's drillship West Navigator signs five-year charter for $806m.
- Aburdees refloated
Salvors have managed to refloat Egyptian-flagged multi-purpose vessel aground in River Scheldt.
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| DECEMBER 8, 2006 |
- Maersk's German shipyard permitted 4.2 million euros investment aid
- Businessman makes offer for Germanischer Lloyd
- Tata Steel establish joint venture to move bulk cargo in India
- NASSCO starts work on 6th T-AKE ship for U.S. Navy
- JFK airport holds top U.S. port by freight value
- Mica to be No. 2 in House T&I Committee
- BNSF hires Nober
- Basham tours Europe, Asia
- DHS rolls out Secure Freight Initiative
- Colombia joins CSI
- Two berths opened at Nansha Port (Phase II)
- South Carolina says tax incentive aims to boost port
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| DECEMBER 8, 2006 |
- Fjord Line avoids bankruptcy
Beleaguered Fjord Line has avoided bankruptcy after two small creditors withdrew their demands in court for the company to be ...
- Wilson to order 8 bulkers in China
Rederiet Wilson in Bergen has signed a preliminary agreement with a Chinese yard to build eight bulk carriers of 8,000 ...
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| DECEMBER 8, 2006 |
- ARB announces cold-ironing workgroup
Stakeholders invited to discussions as California works toward shore power regulation for ocean-going vessels.
- Oil blamed for whale deaths
Whales and a dolphin found dead off the coast of Algeciras.
- Traders flock to new Singapore storage tanks
Fuel oil traders, including Shell, are snapping up new oil tanks before they are even built.
- Supplier to launch after New Year
Bunkers (Gibraltar) to avoid the holiday season.
- Aegean IPO raises more than expected
Initial reports say share price has been at the top of the forecast range.
- Barge congestion persists in Rotterdam
- Tax dispute hits oil exports from key Russian port
Volgotanker's decision to mothball fleet triggers fall in St. Petersburg volumes.
- China relaxes grip on refined oil wholesale market
Break-up of Chimbusco's bunker market monopoly position could soon be a reality.
- SK Shipping makes first IFO supply off West Africa
Introducing another bunker tanker next year is a possibility if IFO demand picks up strongly.
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