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| OCTOBER 25, 2007 |
Shipping News
- China shipyards set to tap equity market
Ambitious Chinese shipyards plan to tap eager equity markets in coming years to ride a global trade boom, but investors should be wary about risks of a worldwide capacity glut by 2010.
- Second busiest port: Shanghai may replace HK
Chinese city Shanghai is expected to overtake Hong Kong as the world's second-busiest container port this year, helped by rising throughput at the multibillion-dollar Yangshan deep-water port, a senior port official said yesterday.
- US, Mongolia sign shipboarding pact
Somebody should have looked at a map.
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| OCTOBER 25, 2007 |
- Danaos orders five 12,600-TEU ships for US$830 million
- FedEx cuts China domestic express rates in half
- China ports' box volume sets new high in September
- Shenzhen box volume up 14 pc in first nine months
- ICTSI sends Ecuador cranes to provide box handling muscle
- Kuehne + Nagel International earnings up 30pc through September
- Schenker moves ahead with Iberian integration of Spain-Tir
- Continental posts US$241 million profit and record operating income
- Air India Cargo will lease its freighters to gain revenue
- Transnautic Aero opens in Poland as economy grows
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| OCTOBER 25, 2007 |
- GE Shipping takes delivery of Supramax dry bulk carrier
- ABG Kandla Container Terminal handles record 1 lakh TEUs in 8 months
- MCA for ports to be ready by year-end
- Safety Day observed at GTI
- Velji Dosabhai & Sons flags off first 14 export boxes from ICD-Ankleshwar to Nhava Sheva by rail
- Finance Ministry sets 'terms of procedure' for rail freight corridor
- Dedicated freight corridor found economically feasible
- FTA with Asean on horizon-Pillai
- IMC branch opened in Andheri (E)
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| OCTOBER 24, 2007 |
- New managing director for Realogis Immobilien Stuttgart
- Ten new multipurpose vessels for Rickmers-Linie
- Iberia increases flights to Moscow
- DB and OeBB holding freight negotiations
- Kuehne + Nagel grow nine-month profit by 30%
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| OCTOBER 24, 2007 |
- Hornblower lands Oklahoma City ferry contract
- COSCO books bulker orders worth $1.34 billion
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| OCTOBER 24, 2007 |
- Crowley Maritime changing West Coast leadership structure
- Customs' ACE program sets record during September
- Lewis and Clark event scheduled for Bonneville Lock and Dam
- Port of Vancouver, USA Commission Oks land exchange, eminent domain use
- Two executives to be honored with 2007 Connie Awards
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| OCTOBER 24, 2007 |
- Eitzen offloads Fouquet Sacop to Sea-Invest
EITZEN Chemical disposes of French product tanker subsidiary it acquired less than two years ago.
- Eitzen Chemical sale speculation sends share price soaring by 13%
- Shanghai to overtake Hong Kong, says port official
THE box port is expected to be the world's second busiest this year, helped by rising throughput at Yangshan.
- Court throws out ship-source pollution sanctions
The European Court of Justice throws out list of criminal sanctions designed to reinforce the ship-source pollution directive.
- Why shipping can pay a heavy price for simple safety mistakes
VESSELS are being detained because operators are failing to follow simple routines.
- Leave it to the experts
Pollution control and response experts together with the media air their views about oil spill reporting.
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| OCTOBER 24, 2007 |
- EU criminal sanctions thrown out
The European Court of Justice in Luxembourg yesterday scrapped an EU law that holds ship captains and owners criminally responsible for polluting the sea
- Eurotunnel slashes freight costs
IN a bid to win a greater volume of freight traffic, Eurotunnel will halve the cost of moving freight by rail from the start of 2008
- Gulf storm kills three, shuts ports
FIERCE storms have shut operations at dozens of offshore oil rigs, closed three ports and killed two oil workers in the Gulf of Mexico
- Scots try to triple recruits
A THREE-year seafarer recruitment programme has been launched by the Scottish Executive
- 10M Carnival shares on block
ARISON family trusts will sell up to 10M Carnival Corp common shares for estate planning and diversification purposes over the next year
- Spill cover-up costs Polar $7.5M
POLAR Tankers pleaded guilty yesterday to a single felony count for spilling oil sludge and faking a lifeboat drill to cover its tracks
- Safety award repairs dock's name
- Accusations fly at Windjammer
- Koreans revolt over slot shortages
- Star Cruises founder dies
- Mass migrant murder in Gulf of Aden
- Hutchison raises Yantian stake
- SembCorp still reeling
- LRIT: impractical, pricy, pointless
- Japan pushes for LNG guarantees
- Mongolia permits US boarding
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| OCTOBER 24, 2007 |
- Bayonne hears other maritime proposals for former Military Ocean Terminal
Developers pitch City Council on their plans for waterfront site that has been sold to NY-NJ Port Authority.
- Seattle port completes bridge linking two terminals
- Econocaribe acquires Genesis to expand Gulf reach
- Customs seizes $1M in illegally transshipped apparel
- How To: 10 steps to implement TWIC
- DP World forms Antwerp break bulk venture
- Maersk closes terminals to mark safety awareness
- Air lifts C.H. Robinson net
- Weaker intermodal traffic slows Norfolk Southern profit
- Nehru to query DP World ban on transship boxes
- BNSF earnings increase
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| OCTOBER 24, 2007 |
- Senator Lines to join CNX
- EU to relax quota restrictions on Chinese textiles
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| OCTOBER 24, 2007 |
- Capesize controversy
Three quarters of competitors to so far enter TradeWinds' capesize contest believe freight rates will continue to strengthen.
- Shipbroking heaven
Good times are set to continue according to Alan Marsh who explains why the view from his shipping church remains celestial.
- Lawsuit over virus death
The wife of a Carnival passenger who died in a norovirus outbreak is suing the company and the shipboard doctor.
- ACL profits drop
US barge and shipyard company American Commercial Lines reports a 44% slump in third-quarter earnings on slowing inland bulk market.
- Halloween horror at ICG
Independent directors at Irish Continental Group scared of 31 October deadline looming for Moonduster.
- Terminal ruled unsafe
The US Coast Guard in Boston says LNG shipping is unsafe at a proposed Massachusetts terminal.
- Solvang slumps
Norwegian LPG carrier owner hit by higher financial costs and lower rates for its big ship in first nine months.
- Great Lakes go green
Canadian and US shipping interests form environmental certification program aimed at reducing shipping's environmental footprint.
- Shooting Star
Oslo-listed reefer outfit sees third quarter returns shine thanks to increased spot market activity.
- PNSC goes window shopping
Pakistan's national owner inspects overseas ships with view to buying aframaxes and a bulker.
- Lion's share
Cosco Corp (Singapore) nets roaring $1.3bn worth of orders for 29 bulkers from unnamed owners.
- Basil Manila-bound
Hellespont chairman Papachristidis predicts transfer of operations to the Philippines.
- Samudera says farewell
Indonesian line pays tribute to its founder and chairman emeritus, who died yesterday.
- Capital hikes dividend
US-listed Capital Product Partners declares a divided of $0.385 per share, an increase over the partial second quarter.
- Turkey leads recycling drive
Six Turkish facilities and national association head list of aspiring members to new green shipbreaking group.
- Holiday hits Hyundai hard
Chusok Thanksgiving and a fall in offshore newbuildings cut Hyundai Heavy Industries September orderbook in half.
- Eitzen sells Fouquet Sacop
Norwegian owner offloads French product tanker unit to Sea Invest for $334m less than two years after acquisition.
- MSCo shareholders say no
Loan to finance bulker newbuildings rejected by Russian owner's investors.
- CSG hauls in ore deal
Chinese state giant pledges five bulkers to Wuhan Steel over the long-term.
- Uljanik still ahead
Croatian bulker and tanker owner beats last year's nine-month profit thanks to ship sales.
- PGS piles on profit
Norwegian offshore vessel operator posts huge nine-month earnings in booming survey sector.
- Man overboard trick costs $2.5 m
Polar Tankers fined after master faked lifesaving drill to hide evidence of oil pollution.
- Strikes stem Aker flow
Finnish walkout could halt production of ferries and cruise ships.
- Vinashin building again
At least one more new domestic shipyard to be constructed by state group.
- Arlington slips to a loss
Third quarter results at Stena tanker spin-off down, but company maintains decent dividend.
- Zaliv doubles up
Ukrainian yard bags two multiple hull orders from domestic and Dutch companies.
- Shikoku adds capacity
Japanese reefer yard builds new assembly plant to increase output by 2009.
- AOS wins deepwater deal
Aker joint venture with DOF to supply subsea support vessel to Brazilian major Petrobras.
- Thoresen offloads Thor Triumph
Thai bulker owner confirms sale of 20-year-old bulker to Norwegian shipowner Jacobsen & Co.
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| OCTOBER 24, 2007 |
- Senate Commerce hears FMC commissioner nominees
- Bulk rates a confusing situation
- Euronav cautious after 3rd quarter loss
- MSC adds Philadelphia to West Coast South America service
- Hanjin, UASC starting Asia/North Europe connection
- New maritime arbitration group formed
- Dutch carrier enters U.S. market
- Brain to replace McGoogan as Inchcape's Australia head
- Popp awarded International Maritime Prize by IMO
- UAL, JetBlue report higher earnings
- Lufthansa Cargo adding Mexico City
- Polar Air selects Descartes system
- BNSF achieves record financial quarter
- Norfolk Southern profit slides 7% in 3rd quarter
- Countries intensify battle against counterfeit goods
- Trade coalition faults proposed U.S. sanctions against Burma
- C.H. Robinson reports improved results
- Agility consolidates European operations
- Korean manufacturer sites in Philly, sources globally
- Mazda recruits Ford logistics executive
- ASM names Argent as new general manager, two directors elected
- Kenco Logistic Services promotes Spier, Wilhite joins
- FMC reviews 7 OTI license applications
- STX buys large chunk of Aker Yards
- Busan transshipment up this year after flat 2006
- APM Terminals stopping work for safety
- New York terminals file agreement with FMC
- Bay Area to upgrade dry dock facility to handle post-Panamax vessels
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| OCTOBER 24, 2007 |
- SRAB to install catalytic converters on tanker
Stockholm based tanker owner SRAB Shipping has decided to install catalytic converters on the third and last product tanker to be delivered from Turkey. Delivery will be delayed by approximately six weeks to the end of the first quarter next ...
- Shipping tax is unconstitutional, says expert
The shipping tax on Norwegian owners is unconstitutional, in that it is imposed retroactively nearly ten years back, according to legal expert professor Eivind Smith at the University of Oslo. He recommends the Norwegian parliament (Storting) to drop the tax ...
- American insurer gigant enters Nordic marine insurance market
Markel International enters the Nordic marine insurance market by opening an office in Stockholm. The office is headed by Ove Staaf who joins from QBE. London based Markel International wrote gross premium of 729 million in 2006. The mother company ...
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| OCTOBER 24, 2007 |
- Storm closes oil ports, damages rigs
Oil spills and casualties reported as 8-metre waves hit the Gulf.
- Europe: Fuel oil jumps in late trade
Already firm market pushed up by surge in crude oil.
- Sharp drop in US oil imports, stocks
Weekly DOE figures go against market forecast of a build.
- Fuel oil holds firm in Europe
Fuel oil values holding up as arbitrage opportunities beckon.
- Puerto Rico abandons port project
Plans for 'Port of Americas' transshipment hub collapse in face of growing opposition.
- Mixed views on ARA bunker market potential
Stellar growth at Zeebrugge while congestion stalling growth at main ports.
- Rotterdam: Suppliers fully booked till Monday
- 'No immediate plans' for cold ironing in Singapore
Port operator PSA 'is interested' but no specific timeframe given for such development.
- Shipping faces 'monumental challenge'
Shell warns that a switch to using distillate fuels is not without environmental implications.
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