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| JULY 18, 2007 |
Shipping News
- K-Line shares soar on higher-profit expectations
Shares of Kawasaki Kisen Kaisha Ltd (K-Line), Japan's third-largest shipping line by sales, led gains by the country's carriers on expectations that K-Line would raise its profit forecast because of higher container rates.
- US ports, union continue talks past strike deadline
Contract negotiations over wages and benefits between clerical union workers and management at the ports of Los Angeles and Long Beach, the busiest in the United States, continued past a strike deadline that expired at midnight on Sunday.
- Pacific Basin shares surge on Deutsche rating
Shares of Pacific Basin Shipping Ltd surged after Deutsche Bank AG initiated coverage on the dry-bulk cargo operator with a 'buy' rating and said fees for carrying coal and iron ore would continue rising until the end of 2009.
- PTP targets Korean firms to set up distribution hubs
- Japanese shipbuilders' H1 orders decline by 34%
Strait Talk
- Dramatic rise in piracy incidents in second quarter
TWELVE Singapore-flag merchant ships were attacked by pirates in the first six months of this year - the same number as last year and down on the previous three years. Twelve attacks are obviously 12 too many but these figures do not suggest a worsening situation.
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| JULY 18, 2007 |
- Office workers threaten to shut down LA-Long Beach ports
- First Tianjin-US east coast container service launched
- China to invest US$5 billion in water transport over four years
- Ningbo container throughput up 38.7pc in first half
- APL IndiaLinx to invest US$60 million in one year
- Gemartrans appoints new agent in Singapore
- CWT to spend US$50 million on logistics facility in Tianjin
- Theft of export cargo at Chennai airport raises concerns
- YCH launches Airport Logistics Park in Tianjin
- Xiamen Airport to takes over air cargo storage company
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| JULY 18, 2007 |
- Garment industry sees export target within reach
- With India cutting liquor duties, EU puts WTO plea on hold
- Edible oil imports surge by 41 pc in June
- TPT unhappy with TCT’s ‘right-sizing of operations’
- Ports with ro-ro facilities may thrive on booming vehicle exports
- Cargo throughput at Major Ports surges by 14.5 pc in Q1
- DP World shortlists 6 cos to undertake civil works at Vallarpadam ICTT
- ... to invest $ 2 bn in Indian terminal operations
- 4 years young, MICT taking on the world!
- CONCOR’s handling of BCN rakes at DRT-CFS attracts overwhelming trade patronage
- Trans-Asian Railways to focus on freight movement
- GDL reports good growth, rise in Q1 net profit
- Textile sector alters market strategy to combat rupee rise
- Give exporters cheaper loans, RBI instructs banks
- PM’s panel projects 9 pc growth of economy
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| JULY 17, 2007 |
- KCS appoints Thomas J. Naso as assistant vice-president
- Stena Line launches "Stena Traveller"
- Etihad introduces first A340-600 aircraft
- Bidders for MAV Cargo
- Hermes Logistik Group planning new main hub in Germany
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| JULY 17, 2007 |
- New York listing is "best option"
- Explosives being used to break MSC Napoli
- ABS to class CSR Jones Act tankers
- Camillo Eitzen makes US$88.5m in bulkers sale
- Swire Pacific Offshore adds to Singapore orders
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| JULY 17, 2007 |
- Danaos supersizes box ship order
- Fatal explosion at Hyundai-Vinashin Shipyard
- OSHA maritime panel to meet
- GPA designs bigger CNG ships
- Another $116 million for Virginia Class sub
- ABS class for AHL Jones Act tanker newbuilds
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| JULY 17, 2007 |
- Shipowners in fix over ballast water rules
IMO'S refusal to delay new rules governing ballast water technology puts owners in dilemma.
- Pacific Basin stock price soars
SHARE price closes at record high $1.50 after Deutsche Bank forecasts higher earnings.
- Three held over Greek shipyard deaths
THREE people have been detained pending the results of a probe into the cause of a fire onboard the tanker Ailsa Craig.
- Shipping feels the energy crunch
WHAT are the possible repercussions for shipping as an oil crisis looms?
- The risk takers
MASTERS onboard the modern merchant ship are as much risk managers as they are seafarers.
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| JULY 17, 2007 |
- HCI Capital targets institutions
German KG house HCI Capital has opened the share subscription for its containership trust HCI Hammonia Shipping at an issue price of €1,100 ($1,515) per share
- Finaval shareholders approve listing
ITALIAN tanker owner Finaval is to be floated on the stock exchange after shareholders gave their approval at a meeting yesterday
- Seatruck deal with CelticLink mooted
SPECULATION on both sides of the Irish Sea suggests that CelticLink has or may be in the process of selling one of its routes to Seatruck Ferries
- Changes sought to Deaths act
ANOTHER attempt is being made in Congress to allow recovery of non-pecuniary damages for high seas deaths – retroactively
- Wahai Star sinking probe launched
INDONESIA'S National Transportation Safety Committee has launched its investigation into the 11 July sinking of the ferry Wahai Star
- Piracy report is 'nonsense': Jakarta
INDONESIA'S government has described as nonsense an IMB report that calls the country the most unsafe in the world
- Jakarta acts on ferry safety
- LA/LB last ditch talks
- Anger after Greek yard deaths
- Napoli wreck now to be cut apart
- Malaysian ferry operators to merge
- MarAd to help US shipbuilding growth
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| JULY 17, 2007 |
- Progress in ILWU contract negotiations
Unionized office clerks at Port of LA-Long Beach back off initial wage demands.
- Maersk Line makes changes in Mideast services
- Garbage strike briefly shuts APM's Oakland terminal
- EU clears EGL buy
- Salvors blow up MSC Napoli
- Astar sets deadline for ABX
- ILA’s Bowers: Tiered wages should expire
- New LatAm exec for Jaxport
- DHL expands Kansai service
- J.B. Hunt truck revenue slides
- Continental expands cool chain with Envirotainer
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| JULY 17, 2007 |
- Vancouver stiffening rules against substandard container trucks
- Explosives used to split MSC Napoli in two
- NWA partners hold 60% stake in Maasvalkte 2 development
- MSC raises transpacific US – Asia wastepaper rates
- New Brazilian port delayed
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| JULY 17, 2007 |
- Dry and high
Bulker stocks surge further after Jefferies elevates targets across the board.
- Solo sailing?
Jess Soderberg and his AP Moller shipowner partners launch new shipping ventures.
- Horizon loosens bonds
Liner operator launches bid to buy back debt and rid itself of pesky covenants.
- Maersk chops and changes
East Med service to be scrapped, with US MECL link upgraded to include Port Said.
- PacBasin gets a push
Shares surge after Deutsche Bank predicts two more years of rates rises for bulk market.
- Another leap for Grindrod
Early indications show South African player will record more sizeable gains in half-year 2007.
- Merger nod for Chinese owners
Assets supervision body clears tie-up of Changjiang Shipping and Sinotrans.
- Finance a friend for FOE
Lower financing costs help Oslo-listed drilling and yard group to bigger first half profit.
- Finaval fancies float
Italian tanker owner eyeing IPO as it seeks to grow crude transport business.
- Second yard worker dies
Death toll rises at Perama Shipyard in Greece after firefighters find body on FSO.
- Swire makes it 10
Hong Kong owner adds another four anchor-handlers to series of ships being built at Labroy in Singapore.
- Danaos fixes to UASC
Middle East owner takes 3,908-teu unit from John Coustas outfit, but no charter rate is revealed.
- Ro-ro burns again
Survivors have been rescued off Brazil after a fire on the same ship that suffered another ghastly conflagration two years ago.
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| JULY 17, 2007 |
- Halliday quits CMA CGM (UK), Jacobs not going to replace him
- ABS to class first U.S.-built CSR tankers
- Explosives to split MSC Napoli
- UASC to charter 3,908-TEU ship from Danaos
- Tropical Shipping creating THC for Turks and Caicos
- Report: ASTAR says ABX Air mum on merger offer
- Cathay Pacific adding extra freighter services to Dallas, Atlanta
- Continental applies to DOT to start Newark/Shanghai flight
- APL's India rail service exceeding company expectations
- U.S. high-tech trade gap grows
- Counterfeiting issues continue to plague Beijing
- APL Logistics named lead provider on military PXs
- CEVA Logistics promotes executives
- Agility completes acquisition of NZ forwarder
- Davies Turner expanding Bristol, U.K. hub
- Vancouver port to place emissions, safety conditions on truck licenses
- Study: San Diego port could increase tonnage 50% by 2027
- Suez Canal revenue up 13% in June
- ICTSI to develop new Buenaventura container terminal
- H.J. Baker breaks ground on new Stockton port facility
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| JULY 17, 2007 |
- Sadness at tragic death of bunker trader
Leonidas Michas and his family tragically killed in a car accident this morning.
- Russia halves oil product exports through Estonia
Fuel oil shipments hit as Russia re-routes exports for the second time in three months.
- Spanish minister says bunker leak 'under control'
But opposition party say authorities were 'slow to react' to oil spill.
- UK representative to head IMO study group
Group of experts has a few months to assess effect of various fuel options considered to update MARPOL Annex VI.
- Singapore bunker market 'could tighten' as arbitrage slows
Shipbrokers and traders warn that fixtures have 'fallen through'.
- DNVPS calls for more clarity ahead of latest SECA
Ship operators shouldn’t be liable if low-sulphur bunker product, 'bought in good faith’, fails to comply with low sulphur regulations.
- Rotterdam market stays tight for prompt supplies
- Singapore considers floating oil-storage
Report says local agencies are studying proposals for 'very large floating storage' units.
- Hong Kong 380 cst material nears $400
But spot demand stays strong, despite the high prices.
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