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| NOVEMBER 30, 2006 |
Shipping News
- Info-sharing hub to fight maritime piracy launched
THE 14 Asian member-state initiative to fight maritime piracy in the region was marked yesterday with the launch of the Singapore-based Information Sharing Centre, with Singapore's transport minister warning against complacency.
- Egypt to spend US$5b on Suez
EGYPT plans to spend at least US$5 billion over five years to expand the Suez Canal, speeding up Middle East oil shipments to Europe and the US and increasing revenue from the world's longest man made waterway.
- M'sia's MISC unit eyes US$1b funding - source
A subsidiary of Malaysian shipper MISC Bhd, the world's largest carrier of liquefied natural gas, may raise up to US$1 billion to fund its expansion activities, according to a source familiar with the plan.
- Maersk seeks to raise container shipping rates to the US
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| NOVEMBER 30, 2006 |
- CMA CGM to deploy fourth ship on TDM Panama service
- Hapag-Lloyd to raise North America rates in Feb
- Southeast China capacity expected to rise by 9.5m TEU in 2010
- Africa edges out N America to become Ningbo's No 3 trading partner
- New Gulf terminal to debut at SMEM Dubai 2006
- Ships burning polluting fuels will pay higher port fees at Vancouver
- Ships registered under Liberian flag rises to 2,300
- Thai Airways' net profit surges nearly 33pc in FY2006
- New cargo terminal opened at Frankfurt-Hahn Airport
- Boeing struggles to keep up with orders
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| NOVEMBER 30, 2006 |
- CSAV NORASIA to launch IMEX service to provide direct access to MidEast & Europe
- Mercator time charters VLCC from Malaysian co.
- Shipping, highway PPP project approvals may soon need no Cabinet ‘berth’
- Support for cleaner, but costlier shipping fuel gains ground
- Piped gas price peeves India, Pak
- Developed nations raising NTBs to services exports-Kamal Nath
- MICT wins integrated DNV certification
- Exports maintain double-digit growth
- Japan hails India’s ‘dramatic’ growth
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| NOVEMBER 29, 2006 |
- Gefco names new general director in Brazil
- Eimskip to bank on short sea shipping
- Qatar Airways to add seven destinations in 2007
- Eurotunnel signs contract with Nedexco
- TransContainer and VR sign joint venture in Russia/Finland
- Kuehne + Nagel takes over HSBC Export Services
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| NOVEMBER 29, 2006 |
- GL boards rejects BV bid
- ICS continues fight for conferences
- ReCAAP kicks off without key states
- Ship Finance’s swap loss
- US$1bn crane ship planned
- BP expands in Salalah
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| NOVEMBER 29, 2006 |
- GL Boards reject BV takeover proposal
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| NOVEMBER 29, 2006 |
- Olympia Port Commissioners tap McGregor to fill vacant post
- State of Washington nets cash for emergency transport system repairs
- Retirement ceremony set for Coast Guard Gunners Mate
- Port of Vancouver, BC eyes lower fees for cleaner ships
- OSG closes deal for Maritians Inc.
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- GL seeks alternative offers as it slams BV hostile bid
GERMANISCHER Lloyd has firmly rejected the €500m ($657m) takeover approach by Bureau Veritas and is now seeking alternative buyers for stakes of shareholders who want to sell.
- GL stays coy over DNV white knight approach
GERMANISCHER Lloyd has so far not replied to offers from Norwegian classification society Det Norske Veritas to act as white knight in the face of the takeover offer from Bureau Veritas, according to sources familiar with the situation, writes David Osler.
- P&I clubs’ merger plans fall through
A PLANNED marriage of two of Scandinavia’s protection and indemnity clubs for shipowners and charterers has been called off.
- Ernst & Young walkout adds to troubles at Top Tankers
PROBLEMS continue to mount at Top Tankers, with auditors Ernst & Young resigning after a disagreement over the accounting treatment of the firm’s 13-ship sale-and-leaseback transaction set up in March and April.
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| NOVEMBER 29, 2006 |
- DFDS Tor expansion pays off
DANISH ferry company DFDS is reaping the benefits of the expansion of its DFDS Tor Line freight division, but DFDS Seaways cruise ferries again faced tough times
- OSG finalises Maritrans takeover
OVERSEAS Shipholding Group has completed its acquisition of tanker-and-barge operator Maritrans for $471M
- P&O clean-up after cleaner's dismissal
FERRY services between the UK port of Dover and French port of Calais have been suspended because of a strike by the Calais Chamber of Commerce
- Top Tankers in accounting mess
TOP Tankers' shares are in a tailspin today after the company confirmed that its auditor Ernst & Young had resigned and that it would restate 1Q06 and 2Q06 earnings
- Fears rise over weakened dollar
The US dollar is rebounding somewhat today in the wake of a sharp slide that raises questions about currency fallout for trade flows
- BGV applies for Marco Polo funding
- Norway awaits shipping lane approval
- Aker Promar to build new Rio yard
- Odessa pipeline assurance given
- Fjord Line faces bankruptcy
- Nein danke, says GL
- PNSC quarter hit by bunker costs
- DS Norden hit by bunkers, hedging
- Irano Hind strategy pays off
- Chemoil's reduced IPO succeeds
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| NOVEMBER 29, 2006 |
- TACA raises So. California rail fee
Trans-Atlantic Conference Agreement plans higher charges for containers moving into and out of Southern California by rail.
- Port of Houston cedes box pier to Galveston
- Brief strike at LA port
- CAFTA to spur U.S. exports: Study
- Intermodal high on Canadian National spending plan
- CSAV Norasia service links India, Mideast and Europe
- DHL opens U.S. trade project
- Panalpina appoints regional CEO for North America
- Super Galex expands service
- Martinair Cargo restructures Americas operations
- Strike shuts Israel ports
- Car makers eye India ports
- Export ABCs: BIS Update
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| NOVEMBER 29, 2006 |
- Troubled CSAV abandons N. Atlantic following cessation of RTW service
CSAV Norasia will retreat from the north transatlantic trade following the departure of the Round-The-World service in January next year.
- Shipbroker predicts bleak medium-term outlook for liner industry
Container charter rates will continue falling from now until 2009 as oversupply remained a real concern for the industry, said Paul Dowell of shipbrokers Howe Robinson.
- CSAV Norasia re-arranges network to prepare for RTW's departure
- Bosphorus Strait closed by accident
- News analysis: Tank container industry makes a bid for new markets
- New Opera: European railways need new concepts
- Jerry Bridges is formally appointed to VPA
- Asian shipyards seize feeder orders
- New Zealand flooded with October imports
- Rotterdam port alderman on sick leave
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| NOVEMBER 29, 2006 |
- Hopeless
Top Tankers suffers another psychogical blow as analyst for its IPO underwriter downgrades stock to 'sell.'
- Danaos in leaseback deal
John Coustas-led New York-listed boxship owner Danaos is picking up three Maersk panamaxes for $43m.
- Auditors walk out at Top
Evangelos Pistiolis' US-listed tanker owner will restate two quarters' earnings, as Ernst & Young says 'no more'.
- Tanker stocks in bear hug
Pessimism grows over market prospects as UBS, Dahlman cut Frontline, OSG.
- Schoeller gets Cyprus green light
Acquisition by two partners of up to 50.99% of local bank approved by Central Bank of Cyprus.
- Hanjin wants Jacksonville terminal
Korean box line teaming up with US port to grab land for new berths.
- GL rejects BV offer
French classification rival knocked back by strong rebuttal to takeover approach from German boards.
- DFDS shines
More blue skies ahead as acquisitions start to take effect at Danish ferry operator.
- Bosporus back in business
Turkish strait re-opened after accident involving Russian cargoship closed it for 12 hours.
- Taca passes on rail costs
Containership group to charge more for boxes moving through Long Beach and LA as railroad rates rise.
- A+ for Nakilat
LNG owner bags strong rating on $1bn bond issue after 'pivotal role' in Qatar acknowledged.
- Fesco faring well
Russian box line’s remaining routes see growth in first nine months after sale of some trades to Hamburg Sud.
- Varna parent IHB still struggling
Owner of Bulgarian yard sees nine-month profits slip due to lower asset sales.
- Chemoil oversubscribed
Bunker supplier raises $98m after setting initial public offering at lower end of indicative price.
- Hedges trim Norden
Danish tanker and bulker owner gets scalped by losses on bunker hedges and FFAs while vessel sales dry up.
- Hapag to raise rates
German liner operator says competition and rising costs have prompted rate rise on North Atlantic.
- CSAV makes Belden profit
Chilean container line banks $22m gain from sale of stake in Singapore cement carrier owner.
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| NOVEMBER 29, 2006 |
- CMA CGM adds 7th ship to RTW Panama loop
- Maersk Line cuts Miami from AC2 loop
- CSAV Norasia to start India/Middle East/Europe loop
- Germanischer Lloyd board rejects Bureau Veritas’ hostile takeover bid
- Beltest approached for 32.2% share in TORM
- Maersk to end Europe/East Coast South America slot charter
- Former HMM Chairman Hyun dies
- Southern Scrap gets obsolete MarAd vessel
- MacAndrews puts Copsey in charge of short-sea trades
- USTR: Democratic-controlled Congress should not stop trade deals
- ITC investigates competitive conditions of biotech products
- Kinnaird steps down as head of NGTC
- UPS’s Cross joins COSTHA board
- cargo-partner opens Odessa branch
- DHL Forwarding expands in Charlotte
- OOIL deal fuels already hot terminals market
- Marine terminal sales hot topic at TOC Americas
- Vancouver chief lays out aggressive environmental measures
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| NOVEMBER 29, 2006 |
- Nearly 3,000 new seamen needed
A little more than 160 offshore vessels are currently on order to Norwegian owners and close to 3,000 new seamen ...
- J. Lauritzen sells the last owned reefer vessel
J. Lauritzen of Copenhagen is reported to have sold their last reefer vessel under its own flag. It is the ...
- Tankers to follow safer lanes
Norway has obtained approval from IMO to establish new tanker lanes 30 nautical miles off Northern Norway to separate growing ...
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| NOVEMBER 29, 2006 |
- Vancouver: Lower port fees for clean fuels
British Columbia port announcing incentive programme for reducing ship pollution.
- 'One-Stop-Shop' service offers savings in South Africa
Cockett Marine Oil and Grindrod to waive agency fees for vessels making bunker calls.
- Oil prices rise as US oil inventories drop
Latest DOE data show oil inventory declines across the board, driving oil prices to highest levels in nearly two months.
- Investors found Chemoil 'difficult to gauge'
IPO oversubscribed as shares sold at bottom of the price range.
- Container lines take measures to combat cost pressures
Hapag-Lloyd joins Maersk in raising rates and rationalising services to compensate for rising bunkers costs and capacity increases.
- Lube buyers play key role in supply chain management
BP Marine emphasises the customers' role in volume management as industry seeks to tackle supply shortages.
- Hedging contracts hit ship operator's profits
Norden reports losses on its hedging contracts as bunker prices fall.
- Rotterdam market remains stable
- Chemoil offers bottom price range to institutional investors
Chief executive officer Robert Chandran "not happy" with company's valuation.
- Two Asian shipowners' associations resist switch to distillates
Concern over the availability of 1% sulphur cap distillates fuel arises from INTERTANKO's proposal.
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