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| NOVEMBER 29, 2006 |
Shipping News
- Time to close the piracy gap
WHEN senior maritime representatives of 14 Asian nations - including land-locked Laos - meet in Singapore today to officially launch the world's first intergovernmental anti-piracy body, two key seats were conspicuously, and sadly, empty - those reserved for Malaysia and Indonesia.
- Diplomat Yoshiaki Ito to head ISC
THE new regional anti-piracy body aimed at information sharing, analysis and capacity building among its 14 member states will see Japanese diplomat Yoshiaki Ito appointed today to head the Singapore-based Information Sharing Centre .
- Frontline Q3 net income rises 34% but misses estimates
FRONTLINE Ltd, the world's second-largest oil-tanker operator, posted an increase in third-quarter profit that missed analyst estimates as more vessels were put in for repair, and forecast a 'weaker' fourth quarter.
- DP World expects final bids within two weeks
Strait Talk
- The cost of having a policeman onboard is less than inaction
CRITICS of the open register system, who of course talk about 'flags of convenience', may say it has taken a long time but most major flag states are now pretty good at what they do.
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| NOVEMBER 29, 2006 |
- Maersk Line to raise rates and cut services
- Hanjin shares rise on chairman's death amid takeover speculation
- Shenzhen seeks free port status
- Maersk's value to rise with OOIL terminal sales: analysts
- TNT eyes India acquisitions to expand
- K + N to acquire HSBC's UK book business for Export Services
- Panalpina marks 30 years in China
- KLM to appoint COO Peter Hartman CEO effective April
- New air cargo hub planned for Zimbabwe
- Qantas stands by its Airbus A380 commitment
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| NOVEMBER 29, 2006 |
- MOL launches NS2 service
- Protocol Marine Services opens office in Kandla
- Interline Global Logistics completes peninsular chain with 7 offices in key locations
- MoS offers Gurgaon car units Kandla Port as export gateway
- KoPT seeks uniform tariff rates for KDS & HDC
- Plea against rail alignment to Vallarpadam dismissed
- Global players keen on stake in Rlys’ dedicated freight corridors
- KRCL’s Gandhidham-Samakhiali BG line dedicated to nation
- SEZ status for mega food parks sought
- Sweeping excise duty cuts ruled out
- We may regulate export of sugar-Pawar
- Fieo wants tax relief extended to DTA units
- Gujarat pavilion draws huge crowds at IITF
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| NOVEMBER 28, 2006 |
- BA World Cargo appoints Calgary account manager
- Inter Marine Container Lines extends feeder services
- Air France-KLM group raises profits
- SNCF may be "virtually bankrupt"
- DHL Iberia acquires service provider in Spain
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| NOVEMBER 28, 2006 |
- FASA opposes distillate fuel plan
- Frontline’s stronger quarter
- 5% increase for Strike Club
- IMO to adopt new passenger ship safety standards
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| NOVEMBER 28, 2006 |
- Maritrans now OSG America
- Army Incat headed for civilian career
- $21.7 million contract for Atlantic Marine
- BAE Hawaii Shipyard wins Navy contract
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| NOVEMBER 29, 2006 |
- Frontline profit slide hits tanker shares
Tanker shares tumbled yesterday after Frontline turned in third quarter profits which failed to live up to market expectations, and warned that rates in the final three months were running at almost half that of last year.
- Maritime policy: over to you
BRUSSELS has appealed for anyone with an interest in Europe’s proposed integrated maritime policy to contribute to the consultation process over the next six months, writes Julian Bray.
- Hanjin says Park will be boss
HANJIN Shipping, the world’s seventh largest shipping company, said that it would not be taken over by the elder brother of chairman Cho Soo-ho who died on Sunday after a long battle with cancer, writes Mike Grinter in Hong Kong.
- Egypt plans $1bn expansion of Suez Canal
EGYPT is planning to spend $1bn to expand the Suez Canal by 2010, but analysts are questioning the economic viability of this grand project.
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| NOVEMBER 28, 2006 |
- Anti-US Correa wins in Ecuador
RAFAEL Correa, an ally of anti-US president of Venezuela Hugo Chavez, has won the presidency of Ecuador, defeating banana tycoon Alvaro Noboa, by a clear margin
- Ship Finance slips on rate swaps
SHIP Finance International recorded a fall in net profit to $45.7M in 3Q06 from $65.2M in 3Q05 after it suffered a $16.4M loss from interest rate swaps
- Chikara signs for trimaran order
FIVE European shipyards are said to be in talks regarding an order for high speed trimaran ro-ro vessels planned to operate from a hub at Boulogne, France
- Mystery bidder targets DS Torm
DS Torm's shares were much in demand in Copenhagen today after its largest shareholder received an unsolicited bid
- ABS sends Sember to Europe
AMERICAN Bureau of Shipping has appointed William Sember, currently VP responsible for energy development, as head of ABS Europe
- DPW expects US bids in two weeks
- Polish workers prepare for strike
- Frontline gains from strong VL market
- NYK secures China coal first
- Comanav tender out next week
- Leonida search finds no more survivors
- BC ports approve merger proposal
- White knight to shield Hanjin
- MISC plans for further LNG expansion
- NYK sets up officer training hub
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| NOVEMBER 28, 2006 |
- Hapag-Lloyd to hike rates, cut capacity
The container carrier will seek a general rate increase on U.S. routes, and also will reduce capacity on North American services in 2007.
- DP World expects final U.S. bids
- U.S. moves up passport deadline for border truckers
- CMA CGM expands U.S. services
- Jaxport sues over terminal site
- Vancouver ports OK merger
- United Arab opens India JV
- Export ABCs: BIS Update
- $8B for India ports investment
- Izmir extends bid deadline
- Tuticorin preps box bids
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| NOVEMBER 28, 2006 |
- Pacific peak season ends with bump as Maersk slashes 10% of its capacity and slows rotation with extra port calls
Maersk has cut two loops, which account for 10% of its transpacific capacity, and added some port calls to remaining services on the trade.
- Brazilian shipper group carries out court threat
- Gas explosion blocks Indonesian toll road
- APM Terminals expanding, but not at any price
- Jakarta to review terminal handling charge in December
- Pressure returns for Melbourne deepening
- News analysis: Call for Russian investors to unblock St Petersburg and NW Russia
- Kolkata Port Trust wants a single port tariff to iron out market distortions
- Hapag-Lloyd to raise transatlantic rates
- Vladivostok to expand port and inland container capacity
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| NOVEMBER 28, 2006 |
- 'Yes'
Maritrans shareholders give OK to $455m acquisition by Overseas Shipholding Group, forming largest player in US Jones Act trade.
- 'Alarm' bells for FRO
Analyst worried by spiraling overhead as US investors join their Norwegian counterparts in deflating Frontline's share price.
- Swaps loss hits SFI
Frontline linked shipowner manages to increase dividend despite money market play taking a bite out of profit.
- Torm in play?
Takeover speculation gives share price of Danish tanker owner a boost in a falling market.
- Heerema has heavy designs
Dutch heavy-lift specialist prepares $1bn order in Far East for massive crane vessel.
- Owners eye Turku business
Finnish port in talks over passenger service to Estonia.
- NYK signs decade-long deal
Japanese shipowner to carry millions of tonnes of iron ore for China's Maanshan.
- Ships collide off Japan
Small oil leak reported after Japanese tanker and South Korean cargo vessel bump in Inland Sea.
- Frontline's share struggles
Investors punish top tanker owner over $20m of missing profit and fears of weaker outlook.
- Baltija in profit
AP Moller-Maersk yard aiming to top last year’s revenue figure after posting positive earnings in first nine months.
- Army surplus for Master Ferries
Norwegian ferry owner snaps up ex-US military ship for upgrade at Incat in Australia.
- Imarex in the clear
Robust third quarter for Norwegian derivatives broker after merger with compatriot clearing house NOS.
- Another Batam yard?
Indonesian consortium will spend $250m on facility to build VLCCs.
- LSC fined over slick
Insurance cash to cover costly oil spill off France from Lithuanian bulker.
- ITF chases crew cash
Federation threatens to detain Norfolkline-chartered ro-ro in dispute over pay to eastern European crew members.
- Varun confirms aframax buy
Indian owner remains mum on purchase price and details of deal with Qatar Shipping for 2006-built unit.
- Frontline's profits rise
Strong freight rates in third quarter help lift results at VLCC and suezmax tanker operator, but not enough to prevent share price sliding.
- L&T trimming the fat
Indian group ditching smaller subsidiaries to focus on shipbuilding push.
- AWS adds second boxship
UK company wins technical management deal for Runciman feedership chartered to CMA CGM.
- Excel fixes Rodon
US-listed Greek dry-bulk player finds fresh employment for thirteen year-old panamax bulker.
- Stena's volumes increase
European ferry operator said freight volumes rose 2% overall in the first nine months of 2006.
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| NOVEMBER 28, 2006 |
- Hapag-Lloyd latest to announce transatlantic rate hikes
- TACA lines copy Maersk by raising Alameda Corridor rail surcharge
- Maersk to start Northern Europe/Central America loop
- ESPMC-WITASS lines lower bunker surcharge rates as ships slow down
- CCNI raises congestion surcharge for Puerto Cabello
- International Shipholding, CSAV sell cement vessels
- AirBridge Cargo starts first Russian domestic service
- Wal-Mart to enter India through joint venture
- Investigation points to AWB's role in kickbacks to Iraqi officials
- BIS offers exporters redesigned SNAP
- Sweet named DHS chief of staff
- Globe Express opens first Japan office
- CORRECTION: Blue Moon Express meets FMC OTI license requirements
- Industry group convenes to develop TWIC standards
- Canadian ports recommend merger
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| NOVEMBER 28, 2006 |
- New Danish-German joint venture
Danish Scan Trans Shipping of Næstved has signed in a joint venture with German Hermann Buss of Leer. The two ...
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| NOVEMBER 28, 2006 |
- Maersk grabs bumper stems
San Francisco reaping benefits from lower prices.
- Portland resupply delayed by weather
Columbia Bar conditions hampering barge cargoes leading to tightening avails.
- Puzzlement as 'Global SECA' idea gains momentum
The concept of a low global sulphur limit for shipping fuel has been discussed, and dismissed, at the IMO in the past.
- New trader at Malik
November brings staff changes at Danish bunkering company.
- BP Marine outlines further Salalah expansion
After a strong first year, supplier anticipating increased bunker volumes at what is now one its busiest ports.
- Q3 profits triple at IMAREX on 71% increase in trade
Singapore accounts for half of all IMAREX bunker fuel oil trades in the period.
- Rotterdam market stable Tuesday morning
- Bunkers available in Mumbai, HPCL claims
Bunkering suspension should be resolved soon, Hindustan Petroleum Corp still supplying.
- Prices soften as avails show signs of recovery
South Korean bunker prices plunge as bunker fuel shortage looks set to ease next month.
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