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| FEBRUARY 28, 2007 |
Shipping News
- Review Torres stand: Tommy Koh
SINGAPORE's well-known diplomat and expert on the law of the seas Tommy Koh has roundly criticised Australia for limiting free transit of vessels in the Torres Strait by imposing a system of compulsory pilotage.
- EU deputies review maritime rules in wake of accidents
EUROPEAN lawmakers yesterday considered a raft of maritime safety measures aimed at keeping dangerous vessels away from EU coastlines, following a recent series of shipping accidents.
- Frontline Q4 profit drops on weak charter rates
THE world's biggest independent oil tanker group, Frontline, reported a drop in fourth-quarter operating profit yesterday, as expected by analysts, and said its market had remained weak so far in 2007.
Strait Talk
- A week of bad news for sea safety
READING news reports over the past few days has been particularly depressing for anybody interested in the safety and welfare of seafarers and passengers.
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| FEBRUARY 28, 2007 |
- PIL opens service in transpacific trades
- ANL adds Oakland call to service
- Spain implements speed limit at Gibraltar to protect whales
- Container congestion hits Dar es Salaam port
- Congestion charges lifted at Kota Kinabalu port
- FTA calls on Network Rail to lower track access charges in the UK
- Delays prompt UPS and Airbus to re-define A380 orders
- Half of airfreight arriving in Germany originated in Asia in 2006
- Growth in airfreight set to outpace passenger growth by 2025
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| FEBRUARY 28, 2007 |
- SCI chief reveals vessel acquisition plans at Kolkata trade meet
- Mundra Port & SEZ Ltd teams up with Sterling AddLife for a ‘healthy’ dose to infrastructure
- Vizag Port races past 50 m tonnes
- CoPT wins volleyball championship
- Economical trunk routes for speedier, longer, heavyhaul freight trains on Lalu’s agenda
- Infrastructure quality will dictate pace of economic growth-Survey
- Industrial resurgence impressive-Survey
- SEZ fears must be addressed through appropriate policies & safeguards
- Assocham seminars on post-Budget
- Nuances of Budget to be studied at IMC tomorrow
- ‘Implications of Budget’ to be discussed
- AIAI organises live screening of Budget today
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| FEBRUARY 27, 2007 |
- Philippe Bernand to oversee the Lyon Airports
- CMA CGM to launch a new Europe-Australia/ New Zealand service
- New Air France destinations in North America
- Railion: locomotives for Scandinavia
- Deutsche Post completed FY 2006 to plan
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| FEBRUARY 27, 2007 |
- Rozen "sailing south"
- Low freight rates, high bunker costs hit NOL
- V.Ships to manage Windstar ships
- Primorsk issues bonds
- NOL in China port JV
- Frontline reports lower earnings
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| FEBRUARY 27, 2007 |
- ACL initiates scheduled barge sailings
- P&I Club warns on pilotage problems
- Navy contract for BAE Systems San Diego
- V. Ships unit to manage Windstar vessel operations
- New York City can't cap liability in Staten Island Ferry accident
- Vietnam approves STX shipyard project
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| FEBRUARY 28, 2007 |
- Total blames 'hidden defect' for Erika disaster
OIL group tells Paris court that vessel had been suffering from a "hidden defect" which had been impossible for a charterer to detect.
- Erika master makes court appearance
- PSA breaks into Panama with Rodman deal
PORT operator moves into Panama with a deal to develop the former US Naval Base into a container terminal.
- DP World eyes east Baltic hub
GLOBAL ports giant is actively eying up Baltic for a site to base its regional operations and tap into Russia’s burgeoning consumer market.
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| FEBRUARY 27, 2007 |
- HSH shipping profits under pressure
HAMBURG 27 February – HSH Nordbank, the world’s largest shipping bank, secured new ship loan agreements worth €10Bn in 2006 compared with €7.3Bn the year before
- UK lays down scrapping rules
A new UK strategy for ship recycling lays down ground rules for any business interested in setting up a facility to participate in what is forecast as a big future market
- Frustration over lifeline link delay
SCOTLAND'S NorthLink Ferries is holding talks with the Shetland fish processors to resolve a disruption of service that has caused sizeable financial losses
- OSG cites China growth
OVERSEAS Shipholding Group’s profits fell 16% in 2006 as higher expenses outpaced revenue growth
- Judge blocks NY liability cap
An attempt to limit New York’s liability in litigation from the 2003 Staten Island Ferry crash failed yesterday
- Supreme Court rules on disability
- Sovcomflot targets domestic yards
- NOL maintains profit run
- Frontline warns of tanker orderbook
- Clarksons moves into Egypt
- RCI to base Independence in Europe
- Maersk to increase Malaysian port calls
- China now officially coal importer
- Fuel price rise lifts Chemoil
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| FEBRUARY 27, 2007 |
- NOL net falls 57 percent
Parent of APL said net profit before non-recurring items was $344 million in 2006, off 57% from the previous year.
- Growth seen as key to 'green' U.S. ports
- Last of deck boxes removed from MSC Napoli
- New vessel delivered to Intermarine
- Carrier wins damages appeal in Cogsa case
- Truck tonnage weaker
- Houston plans security upgrades at three terminals
- CMA CGM opens India container station
- Evergreen enhances ShipmentLink e-reports
- Ecuador mounts new challenge to EU banana rules
- Port of Seattle, BNSF in land deal
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| FEBRUARY 27, 2007 |
- Freight and fuel hit NOL results, but group pins hopes on growth and investment
Lower freight-rates and higher fuel-costs dealt a double whammy to Neptune Orient Lines 2006 results, but management is pinning its hopes on growth, even remaining “on the lookout” for M&A opportunities.
- More Rotterdam harbour towage disruption considered
Smit Harbour Towage in Rotterdam looks set for a second 24-hour strike tomorrow, following trade union FNV Bondgenoten’s announcement that work will be laid down from Wednesday at 10:00 CET.
- MOL and Maersk to leave Paranagua?
- Drought prompts Yangtze navigation restrictions
- CN strikers stream back to work
- EC emergency veterinary team to protect exports
- NOL, SITC join hands to run Qingdao boxport
- Indian Railways plans surveys for four more freight corridors
- Investors propose a 50-year concession for Indonesia's Bojonegara project
- Durban facility receives RTG in refit as container terminal
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| FEBRUARY 27, 2007 |
- OSG in earnings miss
New York tanker giant down 5% in early trading after fourth-quarter profit falls more than 20% below analyst expectations.
- SFI follows Frontline down
Lower operating revenues and higher expenses drag annual profit down at Ship Finance International.
- OSG looks to China
New York owner teams with partner, said to be Clipper Group, on two VLCC newbuildings at Jiangnan at $108m contract price.
- MBC hands out bonus
Malaysian bulker and tanker company to issue shares equal to a quarter of its capital to boost liquidity.
- Seaspan in mystery swoon
Stock falls nearly 20% to record low in early trading, likely on China scare, before recovering most of loss.
- Four held over hijacking
Somali authorities seize some suspects, but UN aid ship Rozen still under pirates’ control.
- Fesco sells to buy
Russian boxship player raising serious cash from share issue, partly to acquire 100% of rail freight company.
- Dockendale ditched
Golden Ocean switching manager on six former Clipper vessels, one of which landed in trouble with the UK Coast Guard last week.
- NOL in cost vice
Lower freight rates and higher bunker costs lead to profit slump for Singapore liner shipping group.
- Clarksons heads east
UK broker heads to Egypt with two joint-ventures companies to handle agency and chartering services.
- Romania tries again
Blohm + Voss reportedly interested in buying SNM shipyard after Daewoo pulled out of privatisation last year.
- Off the boil
Average freight rates down and operating costs up at Norwegian tanker giant Frontline, slicing $90m off bottom line in 2006.
- Austal adds Tasmanian yard
Australian shipbuilder snaps up North West Bay Ferries in AUD 10m deal.
- Downer for Sado
Annual losses widen at Japanese ferry owner Sado Steam Ship though revenues heading north.
- BW Offshore in profit
Sohmen family controlled FPSO venture returns to the black despite massive expenditure on VLCC conversion.
- CECO profit chopped
High expenses and depreciation outweigh revenue growth at Camillo Eitzen as bulker segment slips to operating loss.
- Coastal Contracts ups earnings
Malaysian shipbuilder hikes profit and revenues in 2006 as it plots expansion.
- Louis cruising
Cypriot cruise ship and hotel owner posts much improved annual result on back of increased bookings.
- Great Eastern offloads travel unit
Indian tanker and bulker owner selling 64% holding in Routes Travel to focus on core operations.
- Profits halve at Halim
Malaysian boxship owner Halim Mazmin saw lower numbers last year after sale of ships in 2005.
- Strong debut for Deep Sea
John Fredriksen-backed offshore shipping company enjoys its first full year of trading.
- Chemoil sees strong start
Bunker supplier sees fourth quarter profits double in debut set of results since Singapore IPO.
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| FEBRUARY 27, 2007 |
- NOL’s profit dented 55% in 2006 by lower rates, higher fuel bill
- ESPMC-WITASS raising bunker surcharges
- U.S. Lines adding calls in Oakland
- NYK names Keller, Veitch to board
- Evergreen upgrades online reporting services
- DOT starts pilot program extending Mexican truck range in U.S.
- Schwarznegger endorses private toll roads
- Indian rail flush with profits, freight corridors construction to begin
- Nippon Express to transport auto parts in China
- FKI Logistex finishes automated handling system for shoe retailer
- Keurig Premium Coffee Systems selects Kenco Logistics Services
- DP World, Deutsche Bahn bidding for 49% stake in HHLA
- NOL partners with SITC on Qingdao terminal
- Port of Seattle, King County and BNSF agree land swap deal
- Stockton port signs $220 million deal for 90-acre wallboard facility
- Claim by ro/ro carrier against stevedore may proceed
- Marseilles-Fos’ container throughput rises 13% in January
- Odfjell Terminals (Rotterdam) expanding
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| FEBRUARY 27, 2007 |
- Erika’s last shipyard repair under scrutiny
During the second week of the Erika trial, the court has tried to clarify how the structural deficiencies of the ...
- Weaker margins at Frontline last year
Frontline had profits of USD 516 million on revenues of USD 1.58 billion last year, against USD 606.8 million on ...
- Healthy profits at Deep Sea Supply
In its first full year of operation John Fredriksen controlled Deep Sea Supply has announced net profits of NOK 235.2 ...
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| FEBRUARY 27, 2007 |
- Staff changes at O.W. Singapore
- NOL result hit hard by bunker costs
Cost per FEU higher due to fuel expenses which rose by $237 million in 2006.
- ARA market stays firm Tuesday morning
- Singapore supply extends tight run
Short-term supply squeeze triggered by a fuel oil cargo reported to be off-spec.
- Bunker fuel squeeze in Hong Kong
Shortage of key grade 380 cst bunker fuel as traders look to cargo arrivals from early-March.
- Chemoil eyes larger Singapore storage capacity
Chemoil's latest purchase, a 250,000 m³ VLCC, to be deployed in Singapore waters.
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