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| AUGUST 21, 2007 |
Shipping News
- Tanker rates to Asia may rise on Sept demand
The cost of transporting Middle East crude oil to Asia, the world's busiest market for supertankers, may rise as refineries start booking vessels to load in September and weather conditions threaten to delay shipping.
- NOL average container revenue up 7%
Neptune Orient Lines Ltd, operator of Asia's fourth-largest container line, said its average revenue per cargo box rose 7 per cent in the four weeks to July 27 because of higher demand to move sea cargo.
- China shipbuilder's Q2 profit doubles
China State Shipbuilding Co, set to become the country's biggest shipbuilder, doubled second-quarter profit as the company sold more diesel ship engines to equip a record number of vessels under construction.
- Chile open to giving Bolivia access to Pacific Ocean
- Seadrill bags US$570m ExxonMobil job
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| AUGUST 21, 2007 |
- Hamburg Sud names newbuild
- Zhaoqing aims for 1m-TEU annual volume by 2011
- APL launches Suez Express service to US east coast
- US$193m Mumbai terminal project moves closer to fruition
- WTSA to boost wastepaper rates
- SAS pilots, crew agree to new contract
- Schenker to set up office in Chengdu Aviation Logistics Park
- DHL transports NBA trophy around Asia
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| AUGUST 21, 2007 |
- Frequent grounding of foreign vessels prompts DGS to tighten ISM code
- Sharma & Associates consolidates position as legal services provider
- CMA CGM launches Mediterranean service from Shenzhen
- 13 mega boxships ordered from STX Shipbuilding & Daewoo
- "K" Line named Lowe’s Ocean Carrier of 2006
- UK freight forwarders win insurance rule exemption
- Horizon Lines announces organisational changes
- Zim hikes freight rates to US ports by 10 pc
- 4 Wan Hai boxships to operate in Grand Alliance’s services
- Leviathans battle whale of a problem
- Trans-regional Customs clearance for 12 mainland Chinese cities
- TSA adds capacity, fearing congestion at HK, Singapore, Shanghai
- AADA to hike bunker surcharge in August
- Shipping rates may extend gain on port delays
- ECU Line offers Antwerp-Tripoli service
- NOL optimistic of rising freight rates
- $ 72.3-m earmarked for Black Sea box terminals
- ECU-Line Antwerp offers service to Vietnamese port of Haiphong
- Ficci outlines economic engagement model to double Indo-Japanese trade
- Swaziland beckons investors
- Jewellers’ eyes twinkle at export prospects
- Lanka to export 8 m pieces of garments to India
- TN draws up plan to develop 16 ports
- CONCOR to invest Rs 3,000 cr. to augment core facilities
- Ex-im cargo dwell time at airports to be reduced to 3 days
- Rlys fancies uniform 14 pc rate of return on private investments in SPVs
- Friends Container Terminal augments handling equipment
- BCHAA calls for separate service tax valuation rules for CHAs
- Rs 2.83 lakh cr. sanctioned by banks & FIs for investment
- Fieo urges FinMin to settle supplementary drawback claims via automatic route
- Gujarat now top investment draw
- Thursday deadline for states to clear pending SEZ proposals
- PHDCCI calculates domestic trade at $ 1,100 bn by 2010
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| AUGUST 21, 2007 |
- Wincanton names new managing director finance
- NOL reports profit
- Muscat - KLM'S 60th intercontinental destination
- ABX Air purchases extended range Boeing 767 Aircraft
- Cargo-Partner extending Graz branch office
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| AUGUST 20, 2007 |
- Private equity firm buys half stake in NCL
- Hamburg Süd upgrades NZ service
- UK boosts Bulgarian SAR
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| AUGUST 20, 2007 |
- Environmental Impact Statement released for Astoria LNG facility
- WTSA member carriers eye wastepaper rate boost
- Women's Shipping Club looking for past members
- Panama Canal Authority names CH2M Hill to management deal
- Pair of shutdowns set for Shilshole Bay Marina tomorrow
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| AUGUST 20, 2007 |
- Thoresen Thai latest to postpone bond issue
FIRM is second shipowner from Thailand to postpone a bond issue in the space of a week as the credit crunch bites.
- Thoresen Thai taps bond market and plans listing
- Robust engine sales propel CSSC profits
SHIPBUILDER posts 87% surge in its first-half net profits, lifted by robust demand for diesel engines.
- Asian shipping stocks rebound
CHINA Cosco leads charge as bulls return to Asian stock markets today.
- Demolishing myths about recycling
A ship recycling facility does exactly what a scrapyard did, so what's the point of using the new terminology?
- Recovering value
FOR about $30m or so, older ships are now being converted for lucrative new lives as large ore carriers.
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| AUGUST 20, 2007 |
- Clock ticking for NCL America
Apollo Management’s equity offer for 50% of Norwegian Cruise Line includes a specific plan to either revive the US-flag NCL America operation or liquidate it within 16 months
- IGC directors back new bid
THE directors of Irish Continental Group (IGC) have recommended that shareholders accept an offer of euro24 per share from the Aella management buy-out group
- Hurricane Dean update
MOVING into warmer waters after passing the Cayman Islands, Hurricane Dean’s 240 km/hr winds are strengthening as it moves toward Mexico’s Yucatan Peninsula
- Second fire hits PNSC
FIRE ravaged the head office building in Karachi of Pakistan National Shipping Corp yesterday, the second fire on the premises in seven months
- Lessons from `Denden' accident
A report by India’s Mercantile Marine Department, probing the capsize of Eritrean ship `Denden' in June, has raised alarms over technical faults and lack of skilled manpower
- India mounts ISM checks
INDIA has tightened flag state and port state controls on foreign flag vessels visiting Indian ports and has started detaining ships for non-compliance of the ISM Code
- Dean batters Kingston
- Canal project manager selected
- Hyundai opens subsidiary in Italy
- Shipping shares pick up
- Star shares nose-dive after NCL Corp deal
- Dean spreads destruction across Caribbean
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| AUGUST 20, 2007 |
- Container ship orders hit record high
Buying spree tops the mark set in 2003 and, with four months left in the year, shows no signs of letting up.
- WTSA to boost wastepaper rates again
- DHS urged to delay acquisition of radiation monitors
- Dean bears down on Mexico, Central America
- Customs unveils new ACE capability
- APL's rate recovery continues
- Going price for Irish Container Group hits $826 million
- Concor expands service to ease Nehru congestion
- Rickmers Maritime orders four boxships
- Federal Maritime Commission to reopen Houston office
- Menlo Worldwide unit wins huge defense contract
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| AUGUST 20, 2007 |
- Shreyas/OEL takes delivery of its first ship
- ICG supports increased management offer
- Currency exchange and freight rates affect RCL’s interims
- WTSA takes rate actions
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| AUGUST 20, 2007 |
- B Navi drug bust
Venezuelan authorities are holding a B Navi bulker and crew after finding 129 kilos of cocaine taped to the hull.
- MBC makes much more
Robert Kuok's company rides better bulker market to higher first-half profit.
- Navios revs up
Klemiar purchase and higher FFA gains see revenue and profit soar at Greek bulker owner.
- Murmansk lines up conversion
Russian owner to turn nuclear-powered cargo vessel Sevmorput into drillship.
- Wilson nets five
Norwegian bulker owner buys five small units it had on charter from Germany’s Wessels Reederei.
- Smit ship aground
All crew winched off Dutch-operated research vessel up on rocks off North Wales.
- Fesco buys Vladivostok
Russian boxship owner takes 50% stake in port for $90m, with remaining shares to follow over three years.
- Fantaasia for Master Ferries?
Tallink ferry could soon have new role for Norwegian owner between Norway and Denmark.
- Japan detains 29
Astro Shipmanagement vehicle carrier in hot water for oily water separator deficiency in July.
- NOL still behind
Low rates at the start of the year mean Neptune Orient Lines is still down on the year-to-date revenue figure.
- ICG accepts Aella offer
Management buyout team pushes offer for Irish ferry group up EUR 2 a share to bring sale closer.
- TTA pulls bonds
Thai owner meets investor reluctance to buy debt in market dogged by sub-prime mortage problems.
- Great Offshore linked to Petrojack
Indian offshore player reportedly mulling offer for Norwegian jack-up rig company.
- CSSC powers to bigger profit
Chinese state shipbuilding group boosted by sales of ship engines in first half.
- Second fire at PNSC HQ
Officials not ruling out terrorism after another Sunday blaze at Pakistan national owner’s Karachi base.
- Chandran keeps buying
Chemoil chief executive snaps up another 7.7m shares as stock price remains under pressure.
- Apollo takes NCL stake
US private equity firm pays $1bn for 50% stake in Norwegian Cruise Line parent NCL Corp.
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| AUGUST 20, 2007 |
- APL reports high demand for new trans-Suez service
- APL’s Sappio: 2008 "a tough year"
- WTSA raises wastepaper rates again
- Carriers upgrade Asia/Australia-New Zealand service
- NYK sets up Pakistan subsidiary
- Fire ravages Pakistan shipping line building
- DOT moves forward with U.S./Mexico cross-border truck program
- Menlo Worldwide wins major DoD 3PL contract
- Hurricane Dean slams Jamaica, heads for Yucatan
- Panama Canal taps CH2M Hill for expansion management
- L.A. City Council O.K.s $17 million liquid bulk terminal lease buyout
- Port of Palm Beach TEUs rise
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| AUGUST 20, 2007 |
- Master Ferries 2006 losses of NOK 54 million
Master Ferries in Kristiansand, Norway has had losses of NOK 54.0 million in the first year of operation. As a ...
- Star to sell half of NCL
Star Cruises is to sell 50 per cent of Norwegian Cruise Lines to the American investment company Apollo Management for ...
- More fast ferries to Bornholm
A majority in the Danish parliament has confirmed a proposal concerning the future service to the isle of Bornholm. The ...
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| AUGUST 20, 2007 |
- Jamaica bunkering closed
Port curfew in place and communications uncertain.
- Rotterdam barge market easing with crude
Prices easing this afternoon, but ARA bunker market may not benefit much from increased Russian exports.
- Shipping shares hurt by fuel gains
Analysts taking careful approach to shares in Asian shipping lines as rising costs could hurt profits.
- Dean shuts down ports
Some oil fields and platforms in the Mexican Gulf region have also been shut down and evacuated.
- Company in talks on Kuwait refinery project
Refinery, scheduled to be the largest in the Middle East, will produce low sulphur fuel oil.
- Very quiet market in Rotterdam
- Hurricane Dean intensifies
After battering the Caribbean, Dean is projected to be Category 5 storm before hitting Mexico or Texas.
- Price war brewing in China's bunker market
Brightway, already competing with Hong Kong on price in Shenzhen, reveals ambitious bunker service expansion plans in China and beyond.
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