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| NOVEMBER 8, 2007 |
Shipping News
- DP World expects revenue to grow 38.5%
Dubai's DP World, the state-owned port operator selling shares to the public, expects revenue to grow 38.5 per cent during the next two years to US$1.44 billion, a banker arranging the initial public offering (IPO) said.
- Shares in Hyundai Heavy hit new high
Shares of Hyundai Heavy Industries Co, the world's biggest shipbuilder, rose to a record yesterday, leading stock gains in South Korean yards on expectations that orders will climb to a record for a sixth year.
- VLCC freight rates from Mid-East to Asia stable
Asia freight rates for very large crude carriers (VLCCs) loading from the Middle East were stable to levels seen the previous week, but demand from this region is expected to lift rates off near four- year lows.
- Seaspan sees 100-ship fleet by 2010
- Aker Yards reports 89% plunge in Q3 net due to higher costs
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| NOVEMBER 8, 2007 |
- Hanjin quarterly profit up 2.6pc on rising Asia-Europe trade
- Yang Ming Marine subsidiary buys two 6,600-TEU ships
- APL to deploy 53-foot seaworthy containers on China-US run
- Mombasa clogging blamed on prosperity, poor roads and railways
- Hong Kong ranks eighth, China 30th, in World Bank Logistics Index
- BAX Global and Schenker formally merge in Thailand
- Cosco wins A320 Tianjin assembly line Airbus contract
- Dragonair joins the oneworld alliance as affiliate member
- Skyroute Logistics expands into central Europe
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| NOVEMBER 8, 2007 |
- Greatship Global orders 2 PSVs
- Maersk Line introduces Quest in reefers Reduces energy intake, cuts CO2 emission
- Tricon commences operations from Kolkata
- STC floats tender for import of palm oil
- Spices exports jump 22 pc to touch Rs 2,100 cr. in H1
- Govt considering reducing import duties on edible oils
- Kandla Port maintains numero uno status by handling 36.57 m tonnes of cargo during April-Oct.
- Brahm Dutt given charge as TAMP Chairman
- CWC to build railside warehousing complex near Chennai
- Andhra to invest rs 750 cr. for developing sez infrastructure
- Minimum export price of onion may be revised downward
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| NOVEMBER 7, 2007 |
- Marchand elected to serve on AAPA executive committee
- MOL appoints agents for Romania, Ukraine and Moldova
- British Airways World Cargo reports interim results
- DHL opens new hub in Ireland
- Egypt to host 3rd Trans Middle East 2007 conference
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| NOVEMBER 7, 2007 |
- Hamburg Süd buys Costa Container Lines' liner business
- Aker profit down
- Antitrust settlements hit Odfjell
- Deep Sea's good quarter
- Hedging hits Chemoil
- Iran, Venezuela "to set up shipping company"
- Major dredging for London
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| NOVEMBER 7, 2007 |
- Study: Ship emissions cause 60,000 deaths a year
- Bharati books PSV ordersr
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| NOVEMBER 7, 2007 |
- Workers at Port of Tacoma begin TWIC program enrollment
- Lufthansa adding daily flight from Sea-Tac to Frankfurt
- Trucks in US/Mexico program will be fitted with tracking gear
- Port Tracker report finds box count down for September
- Greenbrier sees increases for fourth quarter, fiscal year
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| NOVEMBER 7, 2007 |
- Ship air pollution linked to heart and lung deaths
STUDY claims air pollution from ships caused 60,000 deaths from heart and lung disease in 2002.
- Intertanko denies leaking 'IMO data'
- China set to beat US as largest energy user
INTERNATIONAL Energy Agency says China will overtake the US as the world's largest consumer of energy soon after 2010.
- Canal authority stands firm over expansion plans
PANAMA Canal Authority rules out possibility of changing its new lock design to accommodate ultra-large boxships.
- Hats off to Panama's bright young things
THE International Maritime University of Panama is grooming young ambassadors for Panamanian seafaring.
- Operational control
A REASON for the improvement in tanker safety and quality was the recapture of the ship operations from the commercial folk.
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| NOVEMBER 7, 2007 |
- Crude price rise tugs bunkers up
The price of crude oil broke through $98 per barrel today amid reports of diminished US reserves, according to Bloomberg
- DP World enters C-TPAT
DP World has become the first international port operater to be granted membership of the US Customs-Trade Partnership against Terrorism (C-TPAT) scheme
- Lookout tells how ferry sank yacht
THE jury hearing the case of the P&O ferry Pride of Bilbao swamping or colliding with the yacht Ouzo have heard from Dave Smith, who was the lookout on the bridge at the time
- BGV loses backer; stays on target
PLANS to run an innovative high-speed ro-ro freight service between Boulogne and Sheerness are on track, even though the original backers of the project have backed out
- Carnival levies fuel surcharge
CARNIVAL Corporation's North America brands will implement a $5 per person per day fuel surcharge beginning 1 February 2008 to combat spiralling costs
- Tax trauma destroys Odfjell dividend
A PROPOSAL for an extraordinary dividend of NK3.0 per share has been dropped from Odfjell's EGM on 3 December
- DryShips rides spot wave
- Eitzen note placement raises $48M
- Dean batters US Shipping
- India's oil firms eye offshore bunkering
- SeaRiver to train US cadets
- Chemoil's hedge leaves scratches
- Fear as baby boom turns wrinkly
- Sumitomo doubles ship finance staff
- House over-rides Bush dredging veto
- Canal growth yes, high tolls no
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| NOVEMBER 7, 2007 |
- Strong volume for North Carolina ports
Wilmington and Morehead City (left) post traffic gains as ports authority implements plans for long-term growth.
- Canadian officials: Improve supply chain efficiency
- Hanjin profit triples in Q3
- Port Newark Container Terminal sets productivity mark
- Export ABCs: More terminology
- Cosco buys into Suez hub
- Ports America to sell Lake Charles operations
- Transportation Management Systems market surpasses $1 billion
- Box ship hits Oakland bridge
- House overrides Bush veto of water legislation
- Business urges Doha deal
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| NOVEMBER 7, 2007 |
- ICTSI officially takes over Georgian container port facilities
- Evergreen posts sharp rise in profit
- Hamburg Süd completes Costa Container Lines acquisition
- UNIT45 launches dual compartment reefer box
- RCL's financials slightly down in Jan/Sept 07 period
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| NOVEMBER 7, 2007 |
- Travellers eat fuel costs
Carnival Corp decides to pass some of the rising cost of fuel onto customers with a charge of $5 per person, per day.
- Greens turn up the heat
Environmentalists call for IMO to act after US study shows ship emissions kill 60,000 people per year.
- Bananas, but no oil
The reefer that littered Dutch islands with bananas has also suffered a fuel oil leak, although no pollution was spotted.
- Owner sees more red
US Shipping Partners posts another third-quarter loss, this one more than five times the total a year ago, despite help from the ATB Freeport.
- Euroseas prices at $98m
Greek bulker and boxship owner prices public stock offering at $17 per share.
- MCA unions split
Surveyors suspend pay protest but coastguards press on as officers warn UK safety agency.
- Louis banks Sea Diamond cash
Owner of Greece-flagged cruiseship which sank off Santorini in April receives $55m in insurance compensation.
- FSL adds ice class pair
Singapore trust acquires two product tankers in $113m sale-and-leaseback deal.
- Golden future for RHI?
Chinese shipbuilder eyes 2008 Hong Kong IPO as Goldman Sachs readies $600m injection, reports claim.
- Courage in clover
Singapore-listed bulker owner has posted a massive jump in nine-month earning as rates boom.
- Opielok bags two
Hamburg-based owner orders two newbuildings at India's Bharati Shipyard.
- Tough going for Neste
Finnish tanker owner suffers from significantly lower rates in first three quarters.
- Atlantska awash with profit
Croatian bulker owner almost doubles nine-month earnings thanks to hot dry market.
- Record revenue for DESS
John Fredriksen controlled offshore player banks its best ever returns in lucrative third quarter.
- Odfjell blasts tax scheme
Norwegian owner thinks government's new regime is "more favourable" but retroactive nature could be "unconstitutional".
- Nordbank makes more
German ship financier sees operating profit jump in first nine months in "dynamic" market.
- Gates open on Cosco's Suez deal
Long-mooted purchase of 20% in container terminal operation from AP Moller finally completed by Cosco Pacific.
- Taxing quarter for Odfjell
Norwegian chemical tanker owner sees net profit drop on higher tax bill and increased bunker costs.
- K Line Kinkai kicks on
Japanese domestic line sees first half profits climb by 45%.
- Derivative losses hurt Chemoil
Bunker supplier slips into the red in the third quarter after posting derivative losses of $14.8m.
- Aegean delivers bigger profit
Acquisitive Greek bunker and tanker player pushes up nine-month earnings as it grows fleet.
- P&I hike for smaller ships
All members of the Shipowners' Club face higher premium after first loss in seven years.
- Aker Yards feels the heat
Nine-month profit down as Norwegian group faces up to tight delivery deadlines, supply delays and worker shortages.
- Shinwa Naiko still ahead
Japanese coastal bulker player watches profit and revenue rise in first half.
- Nobel prize for shipping?
Onassis foundation to fund $250,000 award for industry academics.
- Goldman Sachs likes STX
US investment bank issues a 'buy' call on South Korean owner and sees 30% upside in stock price.
- SFI takes more DESS ships
Fredriksen controlled companies agree sale and lease back deals on another two offshore ships.
- Double-edged sword
Regional Container Lines sees profits up 39% as dollar weakness hits revenues but cuts costs.
- DryShips dazzles
George Economou dry bulk venture piles on the cash as fleet expands and rates double from a year ago.
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| NOVEMBER 7, 2007 |
- Hamburg Süd to close Costa liner takeover in weeks
- Intermarine adjusts bunker, canal surcharges, adds underdeck charge
- NYK receives bulk carrier
- Maersk reefer software to cut emissions
- Tropical Shipping adds vessel for busy season
- Swiss WorldCargo adds daily Delhi flight
- United's October cargo up 3.1%
- Lufthansa offers service to Orlando
- Bush announces safety plan for imports
- Carlyle creates infrastructure fund
- Freightgate portal upgrade goes live
- Expeditors boss sees glass half full with 3rd quarter profit rises
- FMC reviews 11 OTI license applications
- U.S. container ports' peak season traffic below 2006 levels
- Long Beach passes first portion of SoCal truck re-regulation plan
- COSCO Pacific buys 20% stake in Suez Canal Container Terminal
- Rickmers extends share of Hamburg terminal to secure space
- Jasper County port "finalized"
- Port of Boston reports record container activity
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| NOVEMBER 7, 2007 |
- Deep Sea Supply sells and charters back again
John Fredriksen-controlled Deep Sea Supply is about to sell two AHTSs to Ship Finance International and bareboat charter the vessels back for 12 years at USD 41,500 per day the first two years and USD 27,500 per day for ...
- EU warns Croatia
The European Commission encourages Croatia to change its policy of giving subsidiaries to yards with financial problems. According to EU this kind of support may complicate a future membership in EU, reports Lloyd's List. Under 2006 Croatia gave subsidiaries to ...
- Mikolaj Kopernik to be replaced
Euroafrica has acquired the ferry Vironia, built 1976/1977, from Euro Shipping O'. Delivery will take place in November, before that the ferry has to be re-fitted to suit new quays and ramps. The company plans to replace the ...
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| NOVEMBER 7, 2007 |
- Ship emissions 'cause 60,000 premature deaths' a year
Report says death toll could rise 40% in the next five years unless action is taken on sulphur.
- DOE report less bullish than forecasts
US crude oil stocks fell less than expected and distillates see modest build.
- ARA bunkers top $500 as $100 crude looms
Shipowners 'taking the hit' after waiting in vain for oil prices to ease.
- Chemoil 'robust' despite Q3 losses
Bunker supplier reports higher sales volumes in Panama, New York and Houston.
- Singapore: Stocks of residual fuel drop
Middle distillate stocks jump to five-week high.
- Bunkerworld launches groundbreaking new service
New service helps industry players manage credit risks and exposure in volatile bunker markets.
- Aegean gets $300 million credit facility
New credit facility underwritten by two banks expected to last one year.
- Protestors lift blockade of French ports
But fishermen still campaigning for help with rising fuel costs.
- Aegean net income slips
Higher operational costs cause Q3 net income to fall, but bunker sales volume up 38% on year.
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