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| NOVEMBER 2, 2007 |
Shipping News
- Logistics sector gets $7m for projects
The importance of the logistics sector to the economy means that the challenges of globalisation, increasing competition and more complex supply chains must be addressed if the industry is to move forward. Initiatives announced yesterday by the Singapore Logistics Association (SLA) are intended to give the industry a boost and position it well for the future.
- DP World buys Egyptian port operator for US$670m
DP World Ltd, the Dubai-owned port operator with terminals from the UK to China, purchased Egyptian Container Handling Co for US$670 million to gain Sokhna Port at the southern entrance to the Suez Canal.
- Charterers win bid for arbitration
BRITAIN'S House of Lords ruled last month that the arbitration clause in the popular tanker time charter form, Shelltime 4, does not exclude disputes about the validity of the contract itself, even if the charter was procured by fraud, bribery or misrepresentation.
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| NOVEMBER 2, 2007 |
- AADA bunker surcharge for China, HK, Australia goes to US$350 per TEU
- CNC Line expands intra-Asia services
- MOL upwardly revises forecast for financial year 2007
- Shanghai plans for agricultural throughput at planned logistics centre
- Maersk to ease Chittagong clogging with inland container depot
- New green group campaigns to recycle ships and end beaching
- MICT gains new terminal manager who rose from the ranks
- Flights cancelled as Dragonair pilots quit over duty rosters, US dollar pay
- Royal Jordanian joins TIACA, pledges to join fight against restrictions
- FedEx unveils January 7 rate hike for US express shipments
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| NOVEMBER 2, 2007 |
- Mayur C. Contractor elected Sr Vice-President of FIATA
- FIATA Congress a roaring success
- DP World handles record 135,174 TEUs in Oct.
- GTI organises blood donation camp
- CIndev to open state-of-the-art ICD at Irungattukottai, near Chennai tomorrow
- Gateway Distriparks commences operations in Kochi
- Nath seeks German investment
- FinMin looking at additional incentives for exporters
- Minister seeks more sops for garment, leather and handicraft sectors
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| NOVEMBER 1, 2007 |
- Ingo Böckenholt quits Dachser
- Samskip and Team Lines extend their cooperation into Iberia
- RJ leases Boeing 737 freighter
- Norfolkline chooses Euro Cargo Rail
- TNT reports strong results
- Aviation and the environment conference in Nice
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| NOVEMBER 1, 2007 |
- UK ports "congested"
- APL launches 53ft boxes
- DP World buys Sokhna port
- JP Morgan and Chemoil form alliance
- Wilh Wilhelmsen's good Q3
- "K" Line orders at Aker Yards
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| NOVEMBER 1, 2007 |
- Foss switches tug fleet to ultra low sulfur fuel
- Navy cancels LCS 4
- Rowan orders four jackups at AmFELS
- "K" Line orders PSV's at Aker Yards
- Hawaii Superferry set to sail again
- Daewoo Shipbuilding & Marine Engineering beats 2007 sales target
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| NOVEMBER 1, 2007 |
- Port of Bellingham sets public budget review meeting
- Alfred Popp named winner of IMO maritime prize
- AAPA schedules workshop on Panama Canal expansion
- NAFTA partners see gains in surface transportation count
- Comment period now open for Shoalwater Bay erosion project
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| NOVEMBER 1, 2007 |
- SembCorp faces legal battle over forex losses
SHIPYARD set for legal tussle with 11 banks over $303m of losses on unauthorised forex deals it claims it is not liable for.
- SembCorp invests in Pipavav
- Flemming Jacobs heads $350m boxship IPO
NEW boxship investment vehicle could raise around $350m via intended listing on the New York Stock Exchange.
- Teekay hit by weak tanker market
TEEKAY Corp sustained a sharp fall in third quarter profit as the weaker tanker market took its toll.
- Over a barrel
OIL producers must already be putting the champagne on ice in anticipation that the crude price hits $100 a barrel.
- Lash up and stow
SCARCELY a day goes by, it seems, without some account of damaged cargo caused by a collapse in a container stack.
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| NOVEMBER 1, 2007 |
- Hawaii resurrects Superferry
HAWAII'S House of Representatives passed a bill to save Hawaii Superferry yesterday, clearing the way for service to resume on 15 November
- Teekay upbeat of vessel supply
TEEKAY Corporation missed profit forecasts on weak spot rates, but the tanker supply outlook continues to improve
- GenMar manages down cycle
GENERAL Maritime's profits were halved, but falling spot rates were countered by a prescient shift towards time charters
- Judge drops case against ILA
FEDERAL Judge I Leo Glasser has dealt a second blow to the US government's crusade against the International Longshoremen's Union in dismissing a civil racketeering lawsuit
- Bimco's newbuild contract is a hit
BIMCO yesterday launched the industry's first standard newbuilding contract after an intense two-year drafting process that threatened to alienate some shipyards
- Singapore gambles and builds berths
- Taiwan Power buys 17Mt of coal
- Warning on weather forecasting
- Coatings rule could cost billions
- ICG takeover falters again
- Tax relief for German ports delayed
- Ports close as Noel deathtoll soars
- CMA CGM hires Jacobs for owning co
- US poised to approve UNCLOS at last
- Efforts under way to free LPG tanker
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| NOVEMBER 1, 2007 |
- First call for Prince Rupert
- Strike looms at key U.S.-Canada bridge crossing
- NAFTA surface trade rises
- U.S. fines airfreight carrier
- Winter charge for Russia port
- Ryder drops protest of Menlo Defense contract
- Japan's U.S. trade surplus shrinks
- Fuel switch for Foss tugs
- Panalpina lifts profit
- Navios to sell shares
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| NOVEMBER 1, 2007 |
- Pacer reports disappointing intermodal results
- Status-quo for FEFC Far East to North Europe September growth
- Oil price hits USD96 a barrel
- DfT rail boost for UK container terminals
- NOL posts sharp rise in Q3 07 results
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| NOVEMBER 1, 2007 |
- 14-ship pool unveiled
Four owners have joined forces as Bernhard Schulte-led Hanseatic Tankers launches with a fleet of 17 ships.
- RICO case tossed
New York judge throws out Justice Department's racketeering case against the International Longshoremen's Association.
- Huge coke bust
Mexican authorities uncover load of more than 11 tonnes cocaine aboard a Hong Kong-flagged vessel.
- Trico heaps on profits
US offshore vessel player's profits nearly triple as company shifts toward international markets.
- Six vie for Danish job
Mols-Linien and Scandlines among ferry operators interested in Bornholm route.
- Superferry bill approved
Hawaii's governor is expected to sign a bill passed by lawmakers that would allow operation of the Alakai ropax fast ferry.
- Vikmanis steps down
Latvian Shipping's chairman (pictured) hands over power to Ventspils port chief, a former captain with the tanker owner.
- Chemoil banks on JPMorgan
Singapore bunker and tanker player clinches commodities alliance with investment house.
- Mayhem for Mundra
Investors flood port with offers on first day of share sales.
- Jacobs taps Big Apple
Ex-NOL chief leads Global Ship Lease in New York listing to finance $900m spending spree.
- Hornbeck net grows
As the US OSV and tank-barge player sees 20.9% growth in third-quarter profits, Hornbeck Offshore raises its guidance for full-year earnings by 25%.
- Ore price hike fires Pac Basin
Hong Kong bulker owner thinks imminent rise in cost of iron ore could spell short-term gain for owners.
- SembCorp ahead for now
Singapore yard's third quarter profit up, but still to book huge potential losses on deals carried out by sacked finance chief.
- STX inks post-panamax twins
Korean owner's UK subsidiary signs two-ship deal worth $120m.
- WW gets wanderlust
Ingar Skaug refuses to rule out Norwegian exit after warning tax dispute could harm full-year returns.
- ICG takeover extinguished
Passing of Halloween deadline without any movement sees offer period for Irish owner end.
- Vultures circle Sydney Ferries
Four companies interested in part-privatisation of Australian owner, after report recommends overhaul.
- Yardimci heads to Ireland
New management company will handle Turkish group's six chemical tanker newbuildings.
- Steamship goes for 15%
Another P&I club joins the higher premium convoy.
- Bonheur not humoured by tax
Offshore and shipping group latest to launch withering attack on Norwegian government over new tax regime.
- Finance gains boost Bonheur
Norwegian offshore group has sale of shares and higher interest income to thank for larger third-quarter profit.
- Men in black
WW overturns last year's losses but there is still a sting in the tale.
- DOF does the business
Norwegian offshore shipping group prospers in busy markets in first three quarters.
- Aker reveals K Line deals
Japanese giant orders four supply ships and is behind two anchor-handler contracts signed in August.
- MMM still stuck in the red
Malaysian Merchant Marine reports another quarter of losses, but overall results are improving.
- Genmar profits tumble
Results at Peter Georgiopoulos' other US-listed venture were not so rosy with income down by half.
- Cammell Laird goes home
Collapsed UK shipyard group's former boss John Syvret wins right to name on Merseyside.
- Teekay tanks
Profits at US-listed tanker operator are down by close to 80% as rates dive and costs rocket.
- Genco sizzles
Profits at Georgiopoulos bulker outfit jump 26% in third quarter on more ships and higher rates.
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| NOVEMBER 1 - OCTOBER 31, 2007 |
- China COSCO's liner revenue up on Asia/Europe rate gains
- FEFC adding United Kingdom congestion charge
- Shippers beware: FEFC charges keep coming
- Financier: Ships loans may be difficult to obtain
- Ahern envisions limited role for CSDs
- APL profits surge 123% in 3rd quarter
- APL offering 53-foot boxes on transpacific service
- Koch: 100% screening law impractical
- FEFC westbound volume up 16.6% in September
- ESPMC-WITASS raising bunker surcharges
- OSG reports earnings drop
- Tropical Storm Noel heads for Bahamas
- Groups sue to force feds to remove "ghost fleet" from Suisan Bay
- Witte elected president of ISU for second time
- Record nine months for Volga-Dnepr Group
- Eimskip sells airline
- SAS Cargo puts extra capacity on Dubai and Bangkok routes
- BA World Cargo doubling London/Islamabad services
- Singapore Airlines Cargo adds Hanoi, Vietnam to network
- U.K. to spend '20 billion improving transport network
- Tecate border facility reopens to trucks
- Pacer sees earnings drop
- West Coast diesel fuel prices tie all time high
- House committee action moves U.S.-Peru trade pact closer to approval
- CBP reorganizes intelligence offices
- Norbert Dentressangle sales up 11% after nine months
- GAO dismisses DTCI protest
- Seattle CBP office finds pests in shipments from China, India
- Mainfreight, Target complete deal
- NRF names Gold to lobbying post
- OMB begins review of "10+2" rule
- USDA approves African produce imports under new "streamlined" process
- Heineken opens distribution center in Savannah
- DSV's net profit up 53% after nine months
- FMC reviews 14 OTI license applications
- L.A. port sticks to labor, licensing scheme for SoCal port-truck plan
- Syrian box terminal starts operations
- CBP picks Houston area director
- Sweden's Bromma moves into new HQ
- DP World makes first foray into Egypt
- TSA releases TWIC rollout schedule
- Bayonne forwards terminal redevelopment plans
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| NOVEMBER 1, 2007 |
- Salvors start to pump oil from Omer N
Divers from Svizer has managed to connect hoses to the bunker tanks in the capsized Turkish vessel Omer N. All oil will be removed before the salvors start to rigthen the vessel that is lying on its port side with ...
- New Norwegian MTBs surplus to requirements
An independent defense commission in Norway recommends that six new MTBs worth NOK 5.0 billion are not put into service as they might be surplus to requirements. The catamaran vessels are on order at UMOE Mandal for delivery next ...
- Russian attempted to blow up tanker in Kola Bay
In 2005 a Russian attempted to blow up the tanker Trader stationed in the Kola Bay. Igor Senin, a deputy mayor of the town Zaozersk in Murmansk Oblast, failed in his attempt but he is now in court on terrorist ...
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| NOVEMBER 1, 2007 |
- Fuel removal begins on capsized freighter
Plan to straighten vessel only after emptying fuel tanks.
- Aegean acquires Portland bunkering station
Plans to deploy two bunkering vessels and offer low sulphur marine fuels as it gains UK presence.
- Wilh. Wilhelmsen reports profitable Q3
Hedging helped Wilh. Wilhelmsen secure net profit as opposed to net loss in 2006.
- Bunker sales manager moving on
- Rotterdam market firm in line with crude
- Singapore: Fuel oil stocks soar by 15%
High bunker prices have slowed demand for bunker fuel, leading to a build in inventories.
- Sri Lanka, China in financial pact for Hambantota
China promises to promptly provide funds to back the Hambantota port project.
- Chemoil, JPMorgan form derivatives alliance
Alliance will give Chemoil's customers access to JPMorgan's hedging tools.
- Indonesia terminal expects first cargo by late-2008
Work on Oiltanking Group's $120 million project has been underway.
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