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| MAY 14, 2007 |
Shipping News
- Maersk jack-up rig set to fly Singapore flag
DENMARK's Maersk group may have moved the bulk of its shipping operations to Malaysia's Port of Tanjung Pelepas but Singapore remains an important ship owning and management centre of the group with over 1.8 million gross tons of its fleet flying the Singapore flag.
- PSA signs deal to run Turkey's Mersin Port
SINGAPORE's PSA International, the world's No 2 ports firm, and Turkish conglomerate Akfen Holding have signed an agreement to operate Turkey's Mersin Port, the firms said on Saturday.
- Johor ferry terminal to be tourist arrival hub
THE Johor port authority, or LPJ, plans to turn Tanjung Belungkor ferry terminal into a main entry hub for Indonesian and Singaporean tourists to Malaysia.
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| MAY 14, 2007 |
- Hyundai Heavy wins US$976m order for 8 containerships
- New World Alliance, CMA CGM to start Asia-US east coast service
- 2007 China International Logistics Expo to be held in June
- HK-Guangdong JV to develop mainland supply chain management services
- APL to start 'market-beating' US-Suez service that cuts out Panama
- Hamburg Sud consolidates S California terminal operations
- Maersk Supply Service lands US$10m deal with INPEX Masela
- Cathay freight volume hit by marine competition
- EADS in the red for US$13.5m in Q1 after Airbus delays
- Continental plans early launch for nonstop New York-Mumbai service
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| MAY 14, 2007 |
- TNWA launches SZX service
- Mercator vessel on lease to Arcelor Mittal
- Pentagon Marine Services launches ship agency division
- JBS Family & AMA to hold J. B. Shah Memorial Lecture
- India-Korea CEPA likely by Dec.-Envoy
- Fieo inks MoU with Korean body
- WTC-Rhode Island signs cooperation pact with Indo-American Chamber
- Thailand, Bhutan may buy Tripura’s handicraft
- Shivnath Rai Harnarain (India) bags Apeda award for being top rice exporter
- Alappuzha port: Global tender soon
- Well-equipped Custom House Building opened at MPSEZ
- Chennai co. ready with DPR to develop Kirtania port in Orissa
- Mormugao Port sets new loading record
- Rlys may allow use of goods sheds for a fee
- Rlys extends 10 pc freight surcharge concession to more commodities
- Flyington to buy 6 cargo planes from Airbus
- Govt denies rift over service tax waiver on exports
- Industrial production races into double-digit growth curve
- Core supporters March ahead too
- Govt not to extend period for export of sugar under AL scheme
- IMC welcomes new policy on petrochem investment zones
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| MAY 11, 2007 |
- Louis buys Opera
- US$46m surplus for UK Club
- Fredriksen companies in capesize deals
- Ship design "powerhouse"
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| MAY 11, 2007 |
- Somali pirates strike again
- $978 million box ship order
- Ports, ferries get DHS security grants
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| MAY 11, 2007 |
- Deicing system to expand at Portland International Airport
- Hamburg Sud goes with ITS for Southern California liner work
- Diplomatic conference eyes new rules for handling shipwrecks
- Ferry cooling system trouble has WSF canceling BC run
- April bad month for US rail freight
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| MAY 11, 2007 |
- Insurers feel the heat as major hull claims soar
LARGE claims that have struck the global marine hull market in 2007 are rocketing towards the $600m mark.
- String of losses give marine sector cause for anxiety
- Japanese yards poised to up production
NEWBUILDING super cycle propels shipbuilders to take steps to meet increased demand.
- Hapag-Lloyd suffers loss but Tui says worse is over
WEAK freight rates and adverse effects of Euro-US dollar exchange sinks Hapag-Lloyd.
- Toxic aftershock of 9/11 starts to bite
INSIDIOUS effects of asbestos are casting a pall over Manhattan workers and residents.
- Curse of the accountants
THE need to constantly keep costs down is starting to take its toll on shipping.
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| MAY 11, 2007 |
- US service to bypass Panama Canal
SINGAPORE 11 May – An all-water container service via the Suez Canal linking Asian ports to the US east coast will be launched from July
- DCI seeks more dredgers
DREDGING Corp of India has admitted it is having difficulty chartering enough dredgers to cover to many contracts it has won
- Carolina beach clean-up continues
CLEAN-UP of Styrofoam packing material continues today on North Carolina beaches as debris from 21 containers lost overboard is washing ashore
- VLs weigh down Double Hull Tankers
DOUBLE Hull Tankers, the ship-owning spin-off of OSG, saw quarterly earnings fall 38% on substantially lower VLCC rates
- ISS keeps up steady growth
SHIP agency group ISS is nearly half way towards its target of representing 10% of ship calls, and has access to funds for further expansion
- CalMac bids for own routes
CALMAC, the Scottish Executive-owned ferry company, has put in a bid for the Western Isles and Hebridean services it already operates
- US democrats endorse trade pacts
- Moby Dick - CORRECTION
- Pakistani cement exporters target India
- Seaway 'should target containers'
- Vigo yard talks resume
- London ‘still ahead for arbitration’
- LMAA ‘must encourage younger lawyers’
- Louis acquires Silja's Opera
- HPH looks to dispose of Westport stake
- EC approves intermodal subsidy
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| MAY 11, 2007 |
- NWA sets all-water East Coast service
The New World Alliance, including Hyundai, MOL and APL, with CMA CGM plan to launch a new service from China to the U.S. East Coast.
- Port of Prince Rupert service to begin this fall
- Zim joins TSA
- Storm clips Maersk ships
- NWA plans U.S.-Suez service
- Hapag-Lloyd sinks into red
- Revised forecast sees flat TEUs for Tacoma
- TACA raises fuel charges
- U.S. adds labor rights, environment to trade deals
- LA port gets $6.56M for security
- Houston, Galveston ports partner on container hub
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| MAY 11, 2007 |
- Japan’s shipping companies’ profits squeezed
Results announced by Japan’s three largest liner shipping companies for the fiscal year ending March 31, 2007, reveal that lower freight rates and significantly higher operating costs have hit their profitability hard.
- NWA to start Suez Express service
- Hupac's intermodal traffic grows
- Over USD200 million awarded for US port security improvements
- GNSL staff defect to Ge-ex
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| MAY 11, 2007 |
- Ghandour sells on
Brokers report that Japan’s MOL has paid $137.5m for a VLCC ordered by Ghassan Ghandour at Daewoo.
- ‘Shape up or we ship out!’
Japanese threats bring calls to give the Panama flag more autonomy on the model of the Panama Canal Authority.
- Panamax puzzler
Brokers say Sea Justice has paid $55.6m for a panamax bulker -- two months after selling two such ships for well below that.
- Eitzen sells chem tanker
Axel Eitzen-led Eitzen Chemical has reportedly sold a 20-year-old coated tanker for $18.5m.
- Excel finds gold in old bulker
Sale of 23-year-old vessel yields $6m book profit for Panayiotides' listed vehicle.
- More gas for Harry
Greek owner Stealthgas, led by Harry Vafias, has bought an LPG quartet in a deal worth $38m.
- Eckero goes higher
Finnish ferry line ups takeover offer for compatriot Birka, but not by much.
- DHT profits fall 40%
OSG spinoff loses 6% off share price after lower rates hit earnings.
- Derivative desire
Greek shipowners Lou Kollakis and Vasilis Bacolitsas want more than just hull and P&I cover from their insurers.
- Scandinavian shake-up
Wallenius and Wilhelmsen are to merge their insurance programmes TradeWinds conference is told.
- Order in jeopardy
South African yard says plans for new box terminal placing question mark over deal for 15 supply ships.
- Bourbon bigger again
French bulker and offshore vessel owner builds first quarter revenues in strong markets.
- Teekay takeovers
Acquisitions pose a challenge but also offer opportunities, tanker insurance chief Dev Hildebrand tells TradeWinds conference.
- Inui pulls it off
Japanese bulk owner beats its own ambitious forecasts for 2006.
- Somali pirates strike again
Gunmen seize UAE-owned cargoship 10 miles north of Mogadishu.
- Prosafe dragged down
Norwegian offshore owner sees first-quarter profit halved as costs and interest expenses grow.
- Germans ink Chinese quartet
Shanghai Shipyard grabs $230m order for four containerships from KG firms Lloyd Fonds and Thomas Schulte.
- Meiji adrift
Diversified Japanese owner loses two-thirds of profit in the latest financial year.
- MISC edges up earnings
Malaysian tanker and LNG giant boosted by ship sales in year to 31 March.
- Taiheiyo turns it on
Improved annual profit for Japanese tanker and bulker owner, but current year prospects are gloomy.
- TUI not smiling
German tourism group and Hapag-Lloyd parent sees first-quarter loss grow as freight rates dry up.
- Braemar broadens outlook
UK broker to drop Seascope part of its name as shipping services add more profit to annual result.
- FOP puts out feelers
Fred Olsen’s FPSO arm signs new business deal with Marubeni of Japan.
- Labroy laps it up
Higher value projects from the offshore newbuilding boom are helping Singapore shipbuilder.
- Louis replaces Sea Diamond
Greek operator snaps up Sea Containers cruiseship following sinking of its vessel off Santorini.
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| MAY 11, 2007 |
- Hapag-Lloyd posts underlying 1st quarter loss, says better times ahead
- New World linking Far East/U.S. East Coast with Panama, Suez services
- Hamburg Sud consolidates Southern California calls at Long Beach
- Sea Star plans bunker charge increase
- Continental's Boisen new TIACA chairman
- New LAX head named
- FEC chief stresses investor prospects
- AgTC: Lowenthal bill "one-size-fits-all" approach unfair on ag shippers
- Bush administration, Democratic lawmakers reach trade deal compromise
- Congress urged to maintain policy of in-kind food aid donations
- RAND creates industry-guided supply chain think tank
- T-Mobile renews U.K. contract with Kuehne + Nagel
- SEKO opens Dubai office
- Agreement reached on transfer of Staten Island terminal
- Mega-shipyards planned in India by 2010
- Coal shipping rates rise on port congestion in Australia and Brazil
- U.S. House bill covers Florida port IDs
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| MAY 11, 2007 |
- Louis acquires former Baltic cruiser
The Cyprus based Louis plc has acquired the cruise vessel Opera (ex Silja Opera) from Sea Containers Ltd for USD ...
- Fake pilot station in Nigeria
The international shipping organisation BIMCO warn shipowners to be aware of fake pilot stations in Nigeria. A vessel waiting off ...
- AFP in Indian FPSO deal worth USD 750 million
Aker Floating Production (AFP) has struck a USD 750 million deal to deploy the FPSO Aker Smart 1 with Reliance ...
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| MAY 11, 2007 |
- Shore power meeting to consider new California rules
Agenda covering draft regulations and cost effectiveness as agency pushing ahead with new rules.
- Santos avails situation updated
Supply situation easing but prices firming against regional trend.
- UK aims for effective SECA enforcement
Regulation only expected in time for IMO, as opposed to EU deadline for second SECA
- Russian oil shipments via Estonia down by a third
Exports likely to remain limited in May and June but 'main schedule' being cleared.
- Higher bunker sales boost Chemoil earnings
Chemoil's Q1 profits rise 25% on improved efficiency and almost 20% rise in bunker sales.
- Supplies strained in S Korea
Bunker prices to continue firm until next week, traders say.
- New bunker and storage terminal for Suez Canal
Major new supply operation could see Port Said volumes increase six-fold.
- Soft prices fail to stimulate buying interest
Japanese bunker prices expected to dip further.
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