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| JULY 4, 2008 |
Shipping News
- Indian shipping companies see strong growth
RUNAWAY crude oil prices are affecting Indian shipping companies for better or worse - depending on whether they use oil for fuel or carry it as cargo.
- Damco in list of top 10 global freight firms
Damco, the freight forwarding arm of giant Danish line Maersk marked its first year of operation by making it to the list of the top 10 global companies in its area of expertise. It was driven by an 'encouraging' 26 per cent revenue growth and 20 per cent increase in client base in the Asia-Pacific region, said Asia-Pacific head Jens Wessel yesterday.
- Wartsila buys Vik-Sandvik
Finnish engineering group Wartsila has bought Norwegian ship design firm Vik-Sandvik for up to 170 million euros (S$365 million) to boost its competitive position, Wartsila said yesterday.
- Doosan may sell off assets to buy Daewoo shipbuilding
- £3b navy deal creates 10,000 UK jobs
- STX Group falls on funding concerns
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- UASC orders nine 13,100-TEU newbuildings from Samsung
- APM urges terminal capacity upgrades as ships get bigger
- China's trade value up 26pc, surpasses US$1 trillion in five months
- Xiamen port international transshipments soar 237pc in first five months
- Angry truckers move to enforce India-wide strike over fuel
- Mundra Port sees bright future as linked to SEZ
- Australian truckers threaten nation-wide blockade over fuel costs
- Maersk's freight forwarder Damco turns one this month
- Mainland, Taiwan agree to launch weekend chartered flight on July 4
- Cathay Pacific May cargo volume up 7.8pc
- ABX Air Cargo B762 a write off after fire breaks out
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- IFLN launches new global supply chain management service
- Seatech Shipping executes a massive task
- Shipping Secy to meet port unions on July 8 in bid to avert strike
- Secretaries of key Ministries to grace July 7-9 FIATA & UN-ESCAP meetings
- Rlys agree to scrap 60 pc surcharge on iron ore hauled to steel units
- DHL becomes Airbus' lead transport provider
- Lufthansa lands in Pune!
- Baalu urges transporters to end strike
- MoF considering more service tax relief to truckers
- Minimum export price of onion raised by 15 pc
- No further non-Basmati rice exports for now, rules Supreme Court
- Limit cotton exports & slash import duties, urge textile producers
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- Stolt Tankers feels bunkers pinch
- Wartsila buys ship design group
- Suezmax conversion for Dockwise
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- DryShips sells three and buys four
- Cosco Busan pilot to retire
- Atwood Oceanics negotiating semi contract at Jurong
- Wärtsilä swoops on Vik-Sandvik
- Philadelphia Gear buys most of GE's marine gear biz
- Maersk Line orders 16 more
- U.K. inks carrier contracts
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- Coast Guard submits review of Coos Bay LNG facility
- NAFTA partners set record with April surface transport totals
- Ferry service hours extended for Everett Jetty island Days
- Pacific Maritime Association gives contract talks update
- Weekly rail freight totals again hit by Midwest flooding
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- Ukraine releases report on Neftegaz-67 collision
MINISTRY lays blame for accident on Neftegaz-67, Yao Hai and Hong Kong's Marine Department in draft findings.
- DryShips buys four new ships in fleet renewal
THE company is selling three older panamaxes for $213m and buying four bulkers for $400m.
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- Charges against OSG reinstated
OIL dumping related charges against Overseas Shipholding Group and the chief engineer of one of its vessels were reinstated by a US federal appeals court yesterday
- Eurogate forges inland terminal network
GERMAN box terminal operator Eurogate is launching its own inland terminals to ease the pressure on its ocean terminals in Hamburg and Bremerhaven
- IRISL earns revenues of $1.6bn
ISLAMIC Republic of Iran Shipping Lines has increased its revenues by 60%
- RCL buoyed over future terminal
ROYAL Caribbean Lines feels buoyed by prospects of a new cruise terminal and growth in Asia's cruise industry to homeport in Asian-Pacific cities
- Britannia P&I pays up for Pasha
THE BRITANNIA Steam Ship Insurance Association will pay Newcastle Port Corp almost A$2M to cover costs incurred during the grounding and salvage of the Pasha Bulker
- Princess will be salvaged
MARITIME authorities in the Philippines have confirmed that they are forcing Sulpicio Lines to refloat the capsized Princess of the Stars
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- Maersk orders 16 container ships for South American trades
Strong growth in trades to Asia and Europe spur the Danish carrier's second big order in as many weeks.
- No deal yet: ILWU, PMA negotiators take a holiday break
- Japan, US to screen for nukes at Yokohama
- Lautenberg introduces HMT exemption bill
- NYK gets new boxship
- Kintetsu, Korean firm to start Russian venture
- Customs Update: Big issues roil traders
- Exports power volume gains for West Coast ports
- S. Korean leader calls for end to US beef dispute
- Port of Longview receives new crane
- TSA, WTSA hike surcharges
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| JULY 3, 2008 |
- US West Coast ports work on as labour contract expires
- Bunker surcharge war erupts in Asia
- Maersk orders mega box reefer ships
- Saadé expects CMA CGM to do better than most in downturn
- Tamper proof container launched
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| JULY 3, 2008 |
- Buyer and seller
US-listed DryShips sells off three panamax bulk carriers, and it buys four from CEO George Economou.
- Not enough
Victims of the Norway boiler explosion say full restitution is much more than the $13.8m Norwegian Cruise Lines has been ordered to pay.
- Order No 2
Maersk Line confirms second big order with an agreement for 7,450-teu boxships at Daewoo.
- DVB backs Cheng
Coalition of banks including DVB and Fortis Bank put up $325m long-term loan in the Energy Infrastructure Acquisition-Fred Cheng tie-up.
- Goodbye Donna
OSG VLCC Overseas Donna goes to unspecified Greek buyers for $137m, brokers say.
- Gobbled up
Finnish engine builder Wartsila splashes out on Norwegian ship design group Vik-Sandvik
- Not just talk
Buyers put their money ' $68m of it ' where their mouth is as Nordic Tankers reportedly sells a panamax.
- Dry lifts Imarex
Norwegian derivatives broker posts "new volume record" in second quarter thanks to bulker trades.
- Sealink to list
Malaysian shipyard and offshore vessel player launches IPO to fund expansion.
- Enough for now
Jaakko Eskola says Wartsila is now "a leading ship designer" after buying Vik-Sandvik, but is always looking to expand its other operations.
- On the move
Utilisation rates slip at Petroleum Geo-Services as more seismic vessels spend time steaming to the North Sea and Asia.
- Kailing gets cable
Chinese shipyard claims to be building country's first cable-layer for domestic power company.
- GO gets cash
Greek bulker owner leaving London bourse bags $130m loan from compatriot bank Marfin.
- Where's Marimon?
Mystery surrounds the fate of the captain of the ill-fated Princess of the Stars.
- Double trouble
Norwegian Dawn cruiseship rescues two US sailors in separate incidents within 12 hours.
- Tsuji doubles up
Japanese shipbuilder to set up second yard in China at a cost of $472m.
- Selling to buy
Korea's Doosan group could offload property and other assets to fund bid for Daewoo Shipbuilding.
- Harris pulls IPO
Handysize bulker player Maritime Capital latest listing candidate to pull the plug.
- Frost fairwell
Golar finally wraps up sale of Golar Frost to Livorno LNG operator with charter back before conversion.
- Another handy
Japanese ship financier Uni-Asia returns to Kanasashi Heavy Industries for newbuilding.
- Havila orders SCV
Oslo-listed offshore vessel operator adds to orderbook at domestic yard Havyard Leirvik.
- Euroseas files
Aristides Pittas-led bulker and boxship player looks to raise up to $400m in fresh capital.
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| JULY 3, 2008 |
- Maersk in second containership order spree
- Asian Shippers' Council: South China emergency bunker charge improper
- Suzuki retires as MOL (America) chief, Kitazawa to succeed
- Fredriksen increases stake in Hapag-Lloyd parent
- Textainer extends and increases loan
- Wartsila to acquire ship design firm
- Boudreau named regional executive at Safmarine
- EC issue rules on shipping conferences, shipping pools
- IATA sees sharp dip in air freight growth
- Schneider rolls out new bulk product
- Midwest LTL Alvan goes under
- RoadLink snaps up Pacific Northwest intermodal provider
- Con-way Freight seeks to enlist U.S. Army reservists
- Agility buys out Danish forwarder, expands East Europe footprint
- West Coast dockers' contract expires, talks continue
- Calif. statewide container fee bill delayed again
- Matson, merchantmen unions agree to new labor contract
- Eurogate developing inland terminal network
- COSCO Pacific in container sale leaseback deal
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| JULY 3, 2008 |
- Amiya Scan released
The owner of the coaster Amiya Scan has paid a ransom of USD 1.25 million for the release of the coaster from Somali hi-jackers. The price is the highest ever paid for a release of a commercial ship ...
- Wärtsilä acquires Vik-Sandvik
Wärtsilä aims to become a leader in ship design and acquires global ship design group Vik-Sandvik, a leading independent group providing design and engineering services to ship owners and the ship building industry worldwide. The company has its headquarters ...
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| JULY 3, 2008 |
- Global bunker market report
- Bunkers dent Q2 profits at Stolt-Nielsen
Revenues up but operating margin 'continued to decrease' due to rising costs.
- Towing kite can cut bunker consumption 'by half'
Fleet operator orders SkySails for its next three newbuilds.
- New crisis threatening marine lubricants supply
Lubmarine warns of dramatic impact on market as base oil shortage becomes critical.
- China fuel oil tariffs 'to drop'
Reports say government is under pressure from high prices.
- Asian markets see double-digit gains
Bunker prices continue to rise, supply getting tighter in some markets.
- Rotterdam market firming
- 'Crisis looming' for bunker suppliers
Rocketing prices mean players face new levels of risk.
- Singapore residual fuel stocks down
Fuel oil stocks dip as arbitrage arrivals fall by 35%.
- Tight supply on cargo delay
Hong Kong bunker traders expect replenishment in the second half of the month.
- Bunker costs force changes in Worldscale assessments
IMAREX sets new flat rates to calculate TCE rates for tanker futures contracts.
- Crude oil tops $144
Drop in US inventories triggers new supply worries.
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