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| FEBRUARY 6, 2008 |
Shipping News
- Dongkuk Steel ups price of heavy plate to record
Dongkuk Steel Mill Co, which sells 30 per cent of steel used by South Korea's shipbuilders, the world's largest, raised the price of heavy plate by 13 per cent as yards face record orders for vessels.
- Former AP Moller veteran joins Thome Ship Mgt as MD
Former AP Moller man Bjorn Hojgaard has been appointed managing director of Singapore-based Thome Ship Management with immediate effect.
- Samsung Heavy Q4 net rises 84%
Samsung Heavy Industries Co, the world's second-largest shipbuilder, reported an 84 per cent gain in fourth-quarter profit as it made more vessels to meet trade demand in Asia and Europe.
- Singapore strengthens its naval force with three warships
- Tanker rates may slip further
Strait Talk
- Lloyd's Open Form, 100 years young
IT HAS been a stormy few days around the coasts of northern Europe and several ships have got into trouble. One of them, the cargo ro-ro ferry Riverdance, got into trouble following damage caused by a very large wave. At one stage, the ship looked in grave danger of capsizing in the Irish Sea. Once again, helicopters from the UK and Ireland demonstrated their ability to rescue crew and passengers in horrendous conditions. Eventually, the ship was abandoned even by a core team of nine who stayed on to try to prevent the ship from running aground.
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| FEBRUARY 6, 2008 |
- Evergreen and Maersk enter into slot swap deal on Asia-Europe trade
- China replaces US as Chile's biggest export destination
- Shekou Container Terminal welcomes two new services
- Xiamen Haicang port area box volume reaches 1.88 million TEU
- Shanghai's Waigaoqiao Bonded Logistics Park trade value rises 85pc
- Singapore launches truck-side container traffic system
- India's Container Corp sees 16pc increase in Q4 earnings
- US port executives fear missing the boat on Panama Canal expansion
- Qatar Airways to launch Doha-Guangzhou service in March
- Rising traffic drives Korean Air's lower profits despite high oil prices
- Continental Airlines posts mixed results for January
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| FEBRUARY 6, 2008 |
- India Maritime Summit 2008 dawns
- Hanjin Shipping, KMTC & CNC to launch China-India Service
- Ahlers on expansion drive
- Arrivals of Pak cement spurt
- Talks begin on CECA with Malaysia
- New box traffic system to save haulers 30 pc in costs
- Capt. P.V.K. Mohan heads panel to list steps to promote containerisation at ports
- Railway Budget on Feb. 27
- 2 pc interest rate subvention in export credit to 4 sectors may be extended
- Minister sees rise in textile exports to Gulf
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| FEBRUARY 5, 2008 |
- USA Truck promotes two top executives
- Swiss boosts connections to Cameroon
- Eurosib restructures transport business
- UPS reports loss for Q4/2007
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| FEBRUARY 5, 2008 |
- Bahamas pays up and signs up
- Evergreen and Maersk in Asia-Europe slot swap
- Non-SOLAS US passenger vessels seek GMDSS exemption
- Baltic trials TCE assessment
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| FEBRUARY 5, 2008 |
- FY 2009 budget disappoints ports
- Promotions at Northrop Grumman Shipbuilding
- ADSB starts Bahrain Coast Guard contract
- Maersk to cut 200 Danish seafarer jobs
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| FEBRUARY 5, 2008 |
- Dingle warns Whitehall and Brussels to nurture shipping
UK Chamber of Shipping chief says stability of Britain as a base for shipping business is being eroded.
- EC tonnage tax proposal under fire
- CMA CGM to boost Asia-North Europe capacity
CARRIER set to start fourth FAL service in July this year and a fifth in in October 2009.
- Golden President wins $15m case against Bocimar
JOHN Fredriksen-linked ship-owning company wins profit- sharing case over bulker it chartered to Belgian firm.
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| FEBRUARY 5, 2008 |
- Genoa port boss arrested
The Port of Genoa's chairman has been placed under house arrest as part of an investigation into concessions received by terminal operators
- Job cuts loom at Aker Helsinki
AKER Yards Finland's orderbook is thinning rapidly, and one in five workers at its Helsinki yard could lose their job this spring
- Irish Ferries in pay row
A ROW is developing over the low rate of pay seafarers are earning on an Irish Ferries vessel that operates on a Rosslare-Cherbourg service, compared with those on its ferries sailing to the UK
- Essar to raise $1Bn
ESSAR Shipping is raising $1Bn from foreign investors through sale of equity and a quasi-equity route
- Speakers clash over UK govt support
THE UK Chamber of Shipping and the government's shipping minister found themselves at odds over government support at last night's annual dinner
- Policy hopes for Finnish flag
- For sale: ferries so old they're BC
- OPEC happy with supply profile
- Seamanship questioned as ship freed
- Sinister approach in Agadir
- Møller to cut 200 Danish seafarers
- RCI considers new cruise orders
- Somali hijackers are 'eco-warriors'
- Odfjell struck by tax bill
- Pay equality 'distorts the market'
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| FEBRUARY 5, 2008 |
- China growth seen slowing in 2008
Global economic slowdown leads World Bank to cut growth forecast for Chinese economy to 9.6% percent, down from earlier forecast of 10.8%.
- U.S. air cargo weakens
- Maersk replaces Danish stewards with international crew
- Global prices rise
- Matson earnings up 5%
- Great Lakes industry lambastes Bush budget proposal
- Japan gives tonnage tax preliminary approval
- Genoa port chief arrested
- Inttra opens Thailand office
- Cargolux expands services linking Hong Kong and Budapest
- Container volume grows 4% at Port of Virginia
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| FEBRUARY 5, 2008 |
- DCT Gdansk to get another customer
- Melbourne dredging plan still struggling
- VPA still on growth scenario
- Eimskip on the road to recovery
- Seattle's throughput stable in 2007
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| FEBRUARY 5, 2008 |
- Hedge fund ups stake
Giovine Capital Group reports a 12.9% stake in Nasdaq-listed bulker owner Star Bulk Carriers.
- 'A positive surprise'
JPMorgan analyst says Alexander & Baldwin's shipping business was much more profitable than had been expected.
- A&B still sees growth
Matson Navigation parent expects earnings-per-share growth, despite challenging market conditions.
- Saga slates Japanese brace
Tonsberg-based company teams up with NYK to grab a pair of open-hatch bulkers.
- Washington names ferry chief
State governor hires veteran city manager to head up government-run ferry fleet.
- Fixture carnival
Analyst sees surge in capesize fixture volume out of Brazil, where iron ore exports have been sluggish.
- Bush budget bashed
Great Lakes maritime industry slams proposed cuts in infrastructure, including long-sought dredging funds.
- Rubberneckers risk necks
Tourists take to Blackpool beach to walk under dangerously listing ro-ro Riverdance.
- Leopard in two-year fixture
Deep Sea Supply AHTS goes to ENI Libya for about $34,100 per day in a deal worth $24.9m.
- Matson profits up 5%
Operational profit in Alexander & Baldwin's shipping business increases modestly as cargo mix improves revenue but costs dampen growth.
- Ship missing in Red Sea
Egyptian rescue vessels and airplane search for Sierra Leone-flagged vessel missing for several days.
- Fredriksen bests Saverys
Row over sharing of capesize profit adds to Norwegian tanker king's wealth.
- Greens in fresh emissions plea
Observing campaigners call for IMO to impose tough new laws to reduce emissions related death toll.
- Rizzo on cape crusade
MD of Italian owner Rizzo-Bottiglieri-De Carlini Armatori may be in hunt for six more capesizes after double order in China.
- MMM denies cut-price sale
Malaysian tanker owner sold Mauritius chartering venture for fair price, according to vice chairman.
- Novi under house arrest
Co-founder of Genoa broker Burke & Novi faces charges of fraud and extortion.
- Maersk ditches Danes
Container giant will axe up to 200 Danish seafarers and replace them with international workers in its latest round of cost cutting.
- UK warns over rescue craft
Accident probe reveals potential danger of release mechanism after Vroon crewman injured in drill.
- Abu Dhabi eyes spending spree
Emirates state will splash $28bn on improving infrastructure with $18bn set aside to increase refinery capacity.
- CMES on the rise
Better year for Chinese tanker owner as profit rises 5% in 2007.
- Kherson denies re-privatisation
Ukrainian shipbuilder slams 'blatant media lies' claiming it is set to return to state ownership.
- Kuribayashi slides
Japanese ro-ro owner can't turn higher revenues into more profit in first nine months.
- Svitzer mum on pirate talks
Danish operator of tug seized off Somalia not saying whether or not a ransom demand has been made.
- Aussie ship fund delayed
Credit crunch looks to have claimed another victim with Allco Finance Group postponing fund launch.
- Red ink the only bright spot
Oslo-listed chemical tanker owner Odfjell returns a full-year loss of $10m and is equally bleak about the coming year.
- Samsung yards ahead
Korean shipbuilding giant sees annual net profit skyrocket over three times due to expensive vessels.
- Nepline swaps ships for shares
Tanker owner splashes $9.9m to up its stake in subsidiary and cover the first payment on two Chinese newbuildings.
- Wartsila powering ahead
Ship engines made plenty of money for Finnish group in 2007, and 2008 looking good.
- Bahamas signs on
World's third-largest flag agrees to IMO conventions on anti-fouling paint and bunkers.
- Donbas lines up Gdansk cash
Ukrainian steel group to plough $289m into modernising Polish yard it is close to controlling.
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| FEBRUARY 5, 2008 |
- A.P. Moller - Maersk to sack about 200 Danish crew
- Matson's 4th quarter operating profit up 5%
- Italian carrier orders Chinese vessels
- Sea Star adjusts longer-distance intermodal charges
- Bush increases DHS budget 7%
- Chamber lauds P-4 arrangement, seeks more participation
- Agility forms Kurdistan partnership
- Summit says court action allows it to continue normal operations
- SEKO opens new office in Puerto Rico
- U-Freight's starts U.S. export ocean consolidations to Southeast Asia
- BNSF Logistics buys DFL
- TWIC enrollment at nation's ports off to slow start
- Virginia ports see container growth
- Port of Veracruz container volumes up 8%
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| FEBRUARY 7, 2008 |
- Stena Arctica reflagged
The 117,000 DWT Aframax tanker Stena Arctica, which is jointly owned by Stena Bulk and Neste Shipping, changed from Swedish to Finnish flag on February 5. Neste Shipping also takes over the management of the vessel. The 250 metres long ...
- Zhen Hua pulled of the beach of Maasvlakte
The underwriter and the port authorities in Rotterdam are now able to breathe easy again as the heavyweight carrier Zhen Hua 10 was pulled off the beach at Maasvlakte outside Rotterdam last night, where it had been stranded since last ...
- Green light for cross-border maritime union
82.6 per cent of the members of the British maritime officer union Nautilus UK (formerly Numast) have voted in favour of a merger with the Dutch sister organisation Nautilus NL (formerly FWZ). The members of the Dutch organisation had ...
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| FEBRUARY 5, 2008 |
- Consolidation boosts NuStar's future
Internal changes as year-end results released.
- Bunker prices cast shadow over 2008 prospects
Norwegian chemical carrier Odfjell blames bunker costs for weak fourth quarter results and says full costs still 'weigh upon us'.
- IMAREX fuel oil swaps 'integrated' with FFA broking
New approach to bunker fuel futures after months of diminishing trading volumes.
- Tanker crew illegally selling bunkers to fishing fleets
Indian customs officials charge two Indonesian seamen after $116,000 found on board.
- Japan softens on improved supply outlook
Prices fall after refinery announces normal monthly deliveries, but spot supply remains difficult.
- State refiner faces fuel oil surplus
PDVSA expected to boost fuel oil exports East Asia.
- Close range in Rotterdam barge market at noon
- Singapore: Residual fuel stocks retreat
Residual fuel stocks down from last week's all-time high of 16.2 million barrels.
- Mixed supply picture across Asian bunker markets
Singapore soft and well supplied ahead of Lunar New Year market closures.
- OPEC output options remain open in March
After rejecting calls for more oil last week, OPEC officials say it is too early to predict outcome of meeting next month.
- Bunker firm defaults on payments
Several Singapore bunkering companies have stopped dealings with a bunker trader after it defaulted on payments.
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