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| OCTOBER 24, 2007 |
Shipping News
- STX buys stake in Aker Yards for US$800m
STX Shipbuilding Co, the first South Korean company to run a yard in China, will pay US$800 million to become the biggest shareholder in Norway's Aker Yards ASA, moving into cruise liners as competition with Chinese builders increase.
- Asian medium-range tanker rates fall
Asian medium-range oil-product tanker rates dropped because of a lack of cargoes after Japan's oil inventories gained.
- Shrinking Lakes worry cargo carriers
From his office at the port in Oswego, Jonathan Daniels stared at a watermark etched on the rocks that hug one of the commercial piers - a thick dark line several inches above the surface of Lake Ontario - and wondered how much lower the water would dip.
Strait Talk
- Opening an ASF office is just the first step
ACCORDING to Singapore Shipping Association president SS Teo, setting up a permanent office in Singapore for the Asian Shipowners' Forum (ASF) is a key step towards making sure the voice of Asian shipping is heard loud and clear.
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| OCTOBER 24, 2007 |
- ELAA chief calls for more clarity from EC guidelines
- Port of Dalian box volume up 16.7pc in first nine months
- Port of Tianjin box volume rises 20 pc in first three quarters
- SCT introduces IBM technology to improve IT service
- European shippers pleased EC puts 'users at heart of logistics agenda'
- Mega ships like the Emma Maersk are bigger than they look: AXS-Alphaliner
- Famous Pacific AGM examines future direction of group
- Cargolux to fly to Ho Chi Minh City twice weekly
- Qantas commits to expanding Bombardier Q400 fleet
- Cardinal Aviation, AFL Logistics to form Indian cargo carrier
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| OCTOBER 24, 2007 |
- Mayur C. Contractor elected Sr Vice-President of FIATA
- Samsung to build world's biggest boxship
- DCI pays 150 pc final dividend for 2006-07
- $ 122-bn investment in new refineries to drive demand for new supertankers & product carriers
- Speedy infrastructure build-up seen vital for cost-effective logistics, seamless supply chain
- GTI's stall at proves major draw
- Railways hikes congestion surcharge on iron ore exports
- Nath holds out hope of sector-specific relief for exporters
- 13 more SEZ proposals approved
- Edible oil import bill may rise to rs 3k cr.
- Infrastructure co. to raise $ 2 bn abroad
- Pharmexcil seeks interest rate cut on shipment credit
- Romanian biz team to visit WTC tomorrow
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| OCTOBER 23, 2007 |
- New Somali hijacking
- Euronav results down
- New Antwerp port JV
- Braemar's good half-year
- Georgia detains Cambodian-flag ship
- Strike affects shipbuilding in Finland
- IMEC commits to training initiatives
- ABS gives computer program to museum ship
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| OCTOBER 23, 2007 |
- STX takes 39.2 percent stake in Aker Yards
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| OCTOBER 23, 2007 |
- STX in $800m bid for Aker Yards stake
THE South Korean shipbuilding group will pay $800m to become the biggest shareholder in Norway's Aker Yards.
- STX Shipbuilding looks to build on its Chinese lucky break
- Claimants appeal for QM2 walkway admission
CIVIL claimants in the walkway trial make eleventh hour appeal to defendants to admit responsibility for the collapse of the walkway.
- Dry cargo trades head for hyperdrive
GLORY days for shipbrokers - as dry cargo rates hit jaw-dropping heights - look set to continue.
- Neptune and Solomon
WE MIGHT expect a lively time over the coming years in the matter of undersea jurisdiction.
- Tired of London, tired of its life
YOU cannot deny that the City is regarded as the source of a great deal of influence, even though it makes us hate it more.
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| OCTOBER 23, 2007 |
- Omani oil output to increase
Oil production from the Indian Ocean Sultanate of Oman will gradually increase from next year, the country's Oil & Gas Minister, Dr Mohammed bin Hamad al Rumhi, has told the state-owned Oman News Agency
- Brazil cruise kicks off early
THE Brazilian cruise season started this week in the northeast of the country, five weeks before the usual sourthern hemisphere summer seasonal starts
- Malaysia promotes home shipbuilding
MALAYSIA has allocated a fund to subsidise its shipbuilding industry
- Emissions 'will not be tolerated'
SHIPPING accounts for 2% of the global share of CO2 emissions, says Henrik Madsen, President and CEO of classification society Det Norske Veritas
- Novorossiysk 'over-valued' - report
- Shell sees flaw in distillate plan
- GE predicts tanker rate recovery
- Korea guilty of dumping duty breach
- Fear as Gulf acts on expats
- Police called as SembCorp fires FD
- STX grabs Aker Yard stake
- Spain in box link to Italy
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| OCTOBER 23, 2007 |
- Port of Portland box volume cools
Nine-month container volume at the Columbia River port climbed 29%, but that was off from the torrid 35-40% pace prior to September.
- Wildfires briefly close key S. California rail route
- TWIC enrollment at Corpus Christi to begin Nov. 1
- ACE revenue tops $1B
- UPS profit up in Q3
- Danaos orders quintet of 12,600-TEU vessels
- Excel charters dry bulk duo
- New procedures for motor freight classification group
- Port of Hamburg stevedore reveals plans for IPO
- Devine, Ebeling to receive 2007 Connie awards
- Crowley appoints intermodal VP
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| OCTOBER 23, 2007 |
- Container throughput at ports in Fujian and Zhejiang soars
- DP World to float
- Portonave opens, and local stevedores strike
- Danaos orders 5 x 12,600TEU vessels
- CN intermodal revenues decline 2%
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| OCTOBER 23, 2007 |
- Big Britannia boost
Britannia Bulk profits more than double as Anglo-Danish owner grows its chartered-in fleet.
- Supply vessel sinks
In the second vessel fire in Sonda de Campeche in two weeks, a crewman is missing after an offshore supply vessels sinks off Mexico.
- Euronav posts loss
A weak tanker market leads Belgian owner to post a $23.3m net loss, a sharper fall than an analyst expected.
- Pollution law kicked out
An EU law seeking to criminalize shipowners for pollution is booted into touch.
- St. Lawrence slows down
Great Lakes connector seeing tonnage decline as high freight rates and the weak dollar bring in fewer 'salties'.
- Fix-it site gets bigger
San Francisco's port launches cruise-targeted drydock expansion to become the west coast's only post-panamax facility.
- Apeejay ship in Greens sting
Greenpeace activists unveil coal protest in high-speed manoeuvre on Indian bulker.
- Lee in Eminent move
Singapore offshore owner enters joint venture to create new shipowning arm.
- Nigeria offers up seafarers
Labour minister begs owners to tap crewing resource in African country.
- Braemar bides its time
UK broker's boss Alan Marsh will not be rushed into buying smaller outfits for inflated prices.
- CMES firmly in the black
Chinese tanker owner posts healthy profit in first nine months since Shanghai IPO.
- Down but up at Qatar Nav
Third quarter figures dive but year-to-date net profit well ahead of last year at Qatar Navigation.
- Limarko living it up
Stronger markets send Lithuanian reefer owner's nine-month profit soaring 46%.
- Aker shoots up
Shipbuilder's stock soars in Oslo as investors show approval for $800m STX deal.
- Taking stock
Tanker giants are not over valued while vessel prices remain at record highs.
- FOP flops
A lack of gains from disposals, higher expenses and currency losses push Fred Olsen Production into red in third quarter.
- SembCorp cashes in
Singapore-based player banks $156.9m from sale of 39m Cosco shares following departure of finance director yesterday.
- From strength to strength
London broker Braemar bullish after growing profit in first half, thanks in part to bulker gold rush.
- No cheapskates for DP World
Emirates port giant sets out strict criteria ahead of its November IPO.
- Billions for Severnaya
Russian shipyard lines up rubles to modernise production facilities.
- STX takes a slice of Aker
South Korean shipbuilder says it wants to remain a "minority shareholder" after $800m investment.
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| OCTOBER 23, 2007 |
- Grand Alliance suspends transpacific service
- Danaos orders five 12,600-TEU ships
- INTTRA in Chilean deal
- Bernuth increasing fuel charges Nicaragua, San Andres
- UPS reports increase in revenues, profit
- United parent sees 76% profit jump in 3rd quarter
- N.Y.-N.J. Port Authority blasts FAA plan to reduce JFK flights
- CN's 3rd quarter net income slips 2.4%
- Hub drops another planned acquisition
- CBP bolsters ag enforcement, Basham says
- India: Waste paper shipment is garbage
- DP World finds partners for Antwerp general cargo terminal
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| OCTOBER 23, 2007 |
- Golden Sky's owner sentenced to pay for damaged cable
Grossline Shipping Ltd, the owner of the Cyprus flagged vessel Golden Sky, have been sentenced to pay LVL 183,600 (EUR 216,000) to the Latvian company Lattelecom for the damages the vessel caused to an underwater optic cable when it grounded ...
- Gustaf Erikson in talks about manning of German vessels
Rederiaktiebolaget Gustaf Erikson in Mariehamn, Åland, is talking with a large German shipping company about manning services for two vessels. According to Mr Ove Eriksson, managing director of Gustaf Erikson, the German company is a pure ship owning company with ...
- MSC accepts temporary IDE-base in US
The Maritime Safety Committee, MSC, of IMO has accepted an offer by the United States of America to build, host and operate a temporary base of the International LRIT Data Exchange ' IDE. MSC has also agreed that a permanent home ...
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| OCTOBER 23, 2007 |
- Royal flush, hedging its bets
Record results for cruise line even with 7% higher fuel bill.
- Tanker companies heading for a fall
Tough times for tanker owners as industry faces fleet glut and charter rates that don't even cover the bunker and debt bills.
- Port closed by wildfires, air quality affected
Only 'essential staff on duty' and air at 'very unhealthy' levels.
- INTERTANKO tight-lipped on emissions
Says it has no intention of commenting on its report to IMO containing shipping fuel use and emission estimate.
- Rotterdam bunkers remain firm
- Oil prices to ease with OPEC hike
Kuwait official expects 'positive effect' on the market from OPEC's increased output.
- Hong Kong urged to act on ship pollution
Complaints about exhaust emissions have led to warnings, but no prosecutions.
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