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| MARCH 4, 2008 |
Shipping News
- Aker Yards Q4 losses exceed forecast
Norwegian shipbuilder Aker Yards reported heavier-than-expected losses for the fourth quarter yesterday and fired chief executive officer Yrjo Julin after failing to manage soaring costs in its busiest-ever year.
- Dry bulk rates seen extending gains
Shipping rates for commodities may extend their gains because of China's demand for coal and iron ore and the start of the South American grain exporting season.
- HK carrier's net income quadruples
Pacific Basin Shipping Ltd, Hong Kong's largest bulk carrier, said that 2007 net income more than quadrupled after China's surging demand for raw materials pushed cargo rates to a record. Net income jumped to US$472.1 million, or 30.1 US cents a share, from US$110.3 million, or 8.3 US cents from a year earlier, the Hong Kong-based shipping company said in a statement to the city's stock exchange yesterday. Sales rose 90 per cent to US$1.18 billion\. \-- Bloomberg
- Korea oil spill: Firms swop accusations
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| MARCH 4, 2008 |
- Cosco, China Ocean Shipping take stake in Suez CT from Maersk
- Sinotrans quits transpacific, shuts Long Beach agency
- Shanghai expects volume to hit 30 million TEU in 2008
- Hong Kong-Yokohama Youship service now sails twice a week
- Merrill Lynch: Asia-Europe box trade promising, but less so on transpacific routes
- Montreal reports record 2007 traffic, up 9.4pc to 1.3 million TEU
- Japan Post, Sankyu to form JV to garner world airfreight
- Atlas Air Worldwide Holdings doubles profits on higher demand and utilisation
- IATA calls on Pearl River Delta to speed up carbon emissions reductions
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| MARCH 4, 2008 |
- Hamburg Süd, Hapag-Lloyd, HMM and APL expand cooperation in Asia-Australia trade
- CSAV Norasia adds loop & Malaysian call to VTX service
- Hanjin adds larger ship to Far East Europe Express run
- MSC to offer Central America service from mid-March
- Samsung delivers 9,000-TEU Maersk Alfirk
- Shipping lines, CTs exact 300 pc rise in Nigerian box handling charges
- PB Shipping diversifies into ro-ro, orders four ships for $ 375 m
- Algeciras wins 2008 Andalucia Flag Award
- Kalmar boosts Port of Tacoma's intermodal operations
- IMCL boosts DCT Gdansk's feeder links
- Italy's D'Amico mulls new tie-ups, buyouts
- Increasing sea mishaps may push up insurance premia by 30pc, calculates DNV Maritime
- DGS forms 3 sub-groups to suggest ways to promote coastal shipping
- GE Shipping delivers crude carrier
- LCL Agencies proves its mettle in handling ODC at Mumbai Port
- Rice exports set to swell by 18 pc
- US slashes anti-dumping duty on Indian shrimp
- New Shipping Secy gets down to business right away
- KPT takes up trade issues point by point to avert strike by Port users
- DRFC spadework to begin in 2008-09-Lalu
- South Central Rly's revenue up by 16 pc
- Gesture to Tata's Nano?
- LCL Group's Logix Park deftly handles ODC at CWC's CFS-Adalaj
- Rs 14,000-cr. corpus proposed for RIDF, Rs 12,966 cr. for NHDP
- Patent filings from India fell to 686 in 2007
- Govt may fall back on 1897 law to denotify Goa SEZs
- MAIT hails focus on more inclusive national economic growth
- Essar group to invest Rs 50,000-cr. more in Gujarat
- Nath to take up exporters' woes with PM
- Tax benefits may not be extended to EoUs, STPIs after March 2009
- Exports may fall short of target-FM
- Fund for setting up ITes Dept
- Apparel industry ignored: CIAe
- Sugar freight subsidy ends in Oct-Pawar
- RBI staff strike on March 12
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| MARCH 3, 2008 |
- Golar LNG in terminal deal
- Ocean Heavylift conversion delayed again
- US chief engineer admits pollution charges
- Aker Yards boss leaves
- UK keeps freeze on light dues
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| MARCH 3, 2008 |
- Northrop Grumman makes key shipbuilding appointments
- Stevens Institute to lead port security research effort
- Fairstar to transport Swan dry dock to India
- HHI books $5.7 billion orders in single month
- Aker Yards dumps CEO
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| MARCH 3, 2008 |
- Corps reopens John Day locks
- Crowley adding VIGILANT to fleet of Alaska tugs
- Washington State Ferries streamlining pair of programs
- Port of Seattle puts hold on Lora Lake Apartment transfer
- ILWU executive board endorses Obama for President
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| MARCH 3, 2008 |
- Aker Yards chief Julin steps down
NORWEGIAN shipyard chief executive Yrjö Julin resigns with immediate effect as company posts $13.2m pre-tax loss.
- Labour shortages begin to bite at Aker Yards
- Box line giants consolidate Pacific services
MAERSK Line, Mediterranean Shipping Co and CMA CGM are joining forces in an effort to gain operating efficiencies.
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| MARCH 3, 2008 |
- US oil guzzlers feel the pain
US motorists finally appear to be pulling back on consumption due to higher gasoline prices, a negative for tanker markets
- OSG, Aker relations fraying?
OSG and Aker Philadelphia, the duo driving Jones Act expansion, are headed to arbitration over a contract dispute. Full story
- Oil slick clue to Rezzak's fate
TURKISH authorities who searched for any clue for the missing ship Rezzak have found an oil slick in the Black Sea where the ship is believed to have sunk with 25 Indian sailors onboard. Full story
- CSAV back in the black
CHILE'S Compania Sudamericana de Vapores has jumped back into the black reporting $117M profits in 2007, compared with losses of $58M the year before. Full story
- Boluda gets ready to battle
IN a major reshuffle, leading Spanish owner Boluda Group has established a subsidiary company that brings the Boluda Group's liners Full story
- Cloud over Fincantieri-Aker tie-up
- India to probe shipping 'cartel'
- INSA head slams Indian government
- Italy and Spain's 'motorway' link
- Windjammer debts deepen
- Ferry death toll rises to 47
- Regal Stone to pay for Bay spill
- SeaFrance hit by officers strike
- RCCL ready for fourth Freedom ship
- PSA cautious after record volumes
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| MARCH 3, 2008 |
- Maersk aiming for profitable routes: CEO
Nils Andersen tells conference that carriers are making logical economic decisions in shifting capacity.
- NOL volumes up 17%
- U.S. takes China services dispute to WTO
- Zim upgrades New Sirius
- Higher freight prices expected by Norfolk Southern
- WTO rules against U.S. in shrimp bond dispute
- French ports face rail strike
- Greek vessel owners oppose pollution controls
- Profit up for Geodis
- JAL projects flat cargo revenue in FY10
- NYK shuts Panama units
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| MARCH 3, 2008 |
- Crowley expands logistics services in Guatemala
- March comes in like a lion as Felixstowe cranes destroyed in gale force winds
- PSA posts successful 2007
- Strike at Kandla port postponed
- HHLA records strong gains
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| MARCH 3, 2008 |
- Georgakis ousted again
This time, the former Excel Maritime Carriers chief executive is removed from the board of directors.
- Omega profits flat
US-listed products tanker owner sees fourth-quarter profits inch up as the company touts stable earnings.
- Aries sells Arius
Nasdaq-listed owner sells 1986-built aframax products tanker for $21.8m.
- Lines share transpac
Danish container liner Maersk Line joins Mediterranean Shipping Co and CMA-CGM in a vessel-sharing agreement in the transpacific trade.
- Ansac Orient worth $39.5m
Handysize bulker in the fleet of Imabari Senpaku is sold to undisclosed buyers.
- Marad scraps trio
US Maritime Administration pays shipbreakers $1.1m to recycle three reserve fleet vessels.
- US closes OSG probe
Waste oil and records investigation of New York-based owner's tankers is closed nearly a year after the US company reports on itself.
- Viking deal reached
ITF and Finnish Seamen's Union in out-of-court settlement with ferry operator over flagging-out case.
- Molaris faced fraud case
Company documents show Quintana Maritime boss was cleared in a Greek court over a EUR 1.2m fraud allegation.
- Tango scores $65m
Handymax bulker is sold to Greek buyers more than a month after a $71m deal reportedly fell apart.
- Seatruck orders ro-ro quartet
Clipper-owned freight player goes for four-deckers at Flensburg in Germany.
- Frenzel's merger deal dead
Plans to bring Hapag-Lloyd and its parent under one roof killed off by shareholder revolt, sources say.
- Star Pacific had "pre-existing corrosion"
Accident probe shows bad weather made Carnival-owned cruiseship's condition worse off New Zealand last year.
- Globus trio in waiting
George Karageorgiou is banking on a bumper dry-cargo market in the second quarter with three ships standing by for when rates head north.
- Hebei Spirit accusations fly
Hosco and Samsung do battle in court case arising from Korea's worst oil tanker spill.
- Hext gung-ho on ro-ros
Pacific Basin chief executive says bulker owner entered ro-ro market before it gets too hot.
- HHI bags record
Nearly $6bn worth of new orders in February sees South Korean giant set new milestone for world shipbuilders.
- Voulgarakis issues open invite
Shipping minister seeks to cash in on London's tax wrangles and bolster the presence of Piraeus on the international stage.
- Oman to launch ferries
High-speed service to cut out drive from Khasab through UAE to Muscat.
- 'Chronic shortage' at China yards
Lack of components parts such as engines could delay or scupper newbuilding deliveries, Pacific Basin warns.
- Eships adds two
Abu Dhabi tanker owner branches out into LPG with order at STX in Korea.
- Nynas buys bitumen ships
Swedish refiner teams up with domestic operator Frederiet for Chinese double.
- Pac Basin bags a packet
Hong Kong bulker owner sees profit soar as bulk market spikes and it bags sale-and-leaseback cash.
- Karageorgiou cashes in
AIM-listed Globus Maritime sees larger fleet bring in greater rewards in 2007.
- Aker Yards overstretches
Norwegian shipbuilder blames weaker annual profit on "operational challenges" caused by big orderbook.
- Aker eyes fourth Freedom ship
A bit of good news for struggling yard group, as it nears cruiseship deal with Royal Caribbean.
- Julin pays the price
Aker Yards searching for new boss after Yrjo Julin agrees to leave following "disappointing" fourth quarter loss.
- Green seals charter
Norwegian owner signs up reefer for seven years with domestic operator Zahl.
- Itaguai back to full strength
Brazilian mining company Vale says iron ore shipments from its terminal have returned to normal.
- STX finance plans dismissed
Analyst at Goldman Sachs says move would divert management away from core shipping business.
- Free Jupiter returns
Ion Varouxakis-led bulker player says handysize bulker is back in action after completion of repairs.
- ZIM upgrades Sirius
Israeli container line says it is enhancing its links between the Mediterranean and South America.
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| MARCH 3, 2008 |
- Maersk, CMA CGM: No plans to expand transpacific partnership, yet
- Indian exporters again bemoan shipping costs, blame conferences
- Seaboard Marine reports higher volumes, flat rates
- CTSA lines adjust April BAF, CAF
- Crude carrier supply to stress Mideast to Asia rates in short term
- Hapag-Lloyd names 8,749-TEU boxship
- Esco Marine to scrap 3 U.S. government cargo vessels
- OOCL showcases environmental efforts
- UPS revises 2007 earnings per share
- Smulders to replace Martinelli as EGSAC president
- DSV buys Roadferry from Peel Ports
- Andean trade program extension sent to Bush for signature
- Slovakia, Cuba enter new trade pact
- Ward named to top job at Famous Pacific Shipping
- Samuel Shapiro & Co. names director of operations
- PSA profits rise 59% in 2007
- Ports, steel scrap benefit from India's latest budget
- Congressional panel supports SoCal cargo maglev system
- Seattle port reorganizes capital projects management
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| MARCH 3, 2008 |
- SMA warning on "invisible" AIS vessels
During the end of last week, a Swedish pilot boat noticed that position data transmitted from one vessel through the AIS system could not be received by another vessel. The Swedish Maritime Administration, SMA, issued a navigational warning and soon ...
- Royal Caribbean may order a fourth Freedom vessel
Aker Yards and Royal Caribbean Cruises Ltd. have agreed about the basis on which a fourth ship in the 158,000 GT Freedom class could be ordered. If the deal is closed the vessel would be delivered in the second half ...
- Mærsk and Catering Union makes peace
A. P. Møller-Mærsk and the union for catering officers Dansk S'-Restaurations Forening (DSRF) has made peace after the heavy signals upon the notice of lay off for 164 Danish catering officers. In a joint statement the two parties ...
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| MARCH 3, 2008 |
- Newbuild earmarked for Canary Islands
Product tanker will be latest addition to O.W. Group's operations along West African coast.
- US company buys barge fleet
TEPPCO says it is capitalising 'on the growing demand for barge services'.
- Lubes barge showcasing 'green' technology
BP-owned vessel fronts EU-funded project to demonstrate ship emission reductions.
- China close to deal on Venezuelan fuel oil
PetroChina poised to become one of the biggest single buyers of Venezuelan product.
- Bunker market report from Praxis
- Rotterdam market holding firm
- OPEC mulls production cut
Oil markets stay close to record levels, but some OPEC members predict slump in demand.
- New independent director at Chemoil
Peter Meade joins the company's Board of Directors.
- Competition heats up in Sri Lanka
End of what has effectively been a monopoly on bunker fuel sales expected to bring prices down.
- Double-hulled tanker for Hong Kong
Soaring Dragon's fleet swells to six with delivery of third double-hull bunker tanker.
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