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| MARCH 6, 2008 |
Shipping News
- Iron ore demand drives up Baltic Dry Index
The Baltic Dry Index, a measure of shipping costs for commodities, climbed for a fourth consecutive day on demand for vessels to haul coal and iron ore.
- China Cosco expects up to 60b yuan asset injection
China Cosco Holdings, the world's largest bulk-ship operator, expects to get as much as 60 billion yuan (S$11.7 billion) of assets from its state-controlled parent, said vice- chairman Zhang Fusheng.
- TUI-NOL merger talks near collapse: report
Talks over a tie-up between Germany's TUI AG , owner of container shipper Hapag-Lloyd, and Singapore's Neptune Orient Lines (NOL) have nearly collapsed, the Asian Wall Street Journal reported yesterday, citing two sources familiar with the deal.
- Orient Overseas H2 profit rises 10%
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| MARCH 6, 2008 |
- OOCL revenue rises 22pc to US$5.6 billion, operational profit up 29pc
- Shanghai's certified 'green ships' skip inspections, win priority treatment
- Yunnan to have four railways to southeast Asia
- Chongqing files application for bonded port area status
- Germanischer Lloyd launch Container Terminal standards and audit system
- K + N takes over operation of Beiersdorf's Hamburg logistics hub
- Aker Yards posts hefty loss despite high ship orders, CEO resigns
- Nepal installs Chinese air cargo inspection system in Kathmandu
- National Air Cargo executives plea bargain to avoid jail in false billing case
- Volga-Dnepr's ABC takes delivery of seventh Boeing 747 freighter
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| MARCH 5, 2008 |
- IRISL vessels in political spotlight
- Eitzen sells old timer
- Owners "not convinced" by ISU
- NSA's new president
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| MARCH 5, 2008 |
- Japanese shipbuilding merger in works?
- K-Sea GP Holdings LP plans IPO
- Guido Perla inks auto ferry design contract
- Keppel FELS wins PetroVietnam jackup order
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| MARCH 5, 2008 |
- New crane arrives at Port of Everett facility
- Hanjin takes delivery of new 4,300teu vessel
- US train accidents drop for third year running
- AAPA taps Robert Byrd as 'Port Person of the Year'
- Past District 13 Commander Rear Admiral David Spade dies
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| MARCH 5, 2008 |
- Yards face cancellation crisis from credit fallout
CONFERENCE told second and third tier Korean and Indian owners likely to withdraw vessel orders.
- Banks say no
- Sea World orders chemical tanker series at SPP
TANKER arm of Greece's J. Laliotis group inks deal for up to six advanced medium range product/chemical carriers.
- Tough talks ahead as ILWU seeks new deal
DOCKWORKERS set to negotiate new labour contract amid warnings talks "will not be a walk in the park."
- Gavio Group outlines big plans for Italy's ports
THE Italian motorway, trucking and logistics heavyweight diversifies into port investment.
- Don't ignore the numbers
EUROPEAN shipbuilding is becoming increasingly aware of its own mortality.
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| MARCH 5, 2008 |
- Have your say!
US Coast Guard Commandant Thad Allen has ordered everyone connected with the service to show more respect to merchant mariners
- Deutsche promises more ship cash
DEUTSCHE Bank, largely unscathed by the surge in sub-prime losses, is forging ahead with the expansion of its ship lending business despite the liquidity squeeze in the inter-banking markets
- Humiliated Requiaos call 3rd tender
DESPITE setting in progress a plan to set up its own dredging company ' to be called Companhia Dragagem de Paranaense (CDP) ' the Paranagua port authority is issuing another dredging tender on 10 March
- Grieg elected new president of NSA
ELISABETH Grieg was elected as new president of the Norwegian Shipowners' Association (NSA) at its AGM today
- ITC shares traded from Friday
TRADING in the shares of Independent Tankers Corporation (ITC), the latest spin-off from Frontline, will start on the OTC market in Oslo on Friday 7 March
- K-Sea plots new IPO
JONES Act tank barge and tugboat operator K-Sea is planning an initial public offering of up to $100M in common units, despite current pressures on public markets
- Intelligence must fight romance
- USCG boss urges seafarer respect
- Crime link in Rezzak disappearance?
- Evergreen starts Med feeder service
- Tonnage cut doubles Aboitiz profit
- No more ships till rates rise: OOCL
- US Customs: 100% scanning by 2012
- OOIL nets terminal bonanza
- Hyundai Samho likely to list
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| MARCH 5, 2008 |
- LA port clean-air plan now a power struggle
Clean Air Action Plan now has more to do now with lawsuits, ruthless politics and union organizing than it does about reducing emissions at the port.
- Hapag-Lloyd, Mediterranean Shipping impose inland surcharges
- MSC names trans-Pac services
- Con-ro order for CMA CGM
- Jaxport revenue mark
- OOIL box profits up
- Portland crane sets sail
- China to rein in inflation
- Export ABCs: Payment terms
- Customs seizes $67 million worth of smuggled apparel
- OECD urges quick action on climate change
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| MARCH 5, 2008 |
- Status Quo for UK light dues on eve of coastguard strike
- Extra ordinaries fuel OOIL's 2007 result
- EWS signals new Duisburg ' Manchester shuttle train
- DSV impresses with 25% jump in profit
- World Shipping Council in support of '10 plus 2' proposal
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| MARCH 5, 2008 |
- Royal outlook
Royal Caribbean sees brighter first quarter as it raises its forecast to between $0.30 and $0.35 in earnings per share.
- Bill calls for double hulls
Leading US lawmaker on transportation introduces a bill seeking double-hull bunker tanks.
- Log-In profits climbing
Brazilian container logistics company and coastal boxship operator sees 11% growth in fourth-quarter profit and sees full-year results soar.
- Petrobras' FPSO pains
Brazilian oil and gas major shells out $616m payout to avoid FSO and FPSO conversion delays, and the company raises doubts that the funds will be reimbursed amid a legal battle.
- MCA fears over strikes
UK agency head warns on safety being compromised and damage to reputation.
- K-Sea floats IPO
US tank-barge operator's parent, K-Sea GP Holdings, reveals plans to launch a $100m initial public offering.
- Ficus floats
Shell-chartererd tanker on its way for underwater inspection after successful re-floating off Bahamas.
- Norway's first lady
Elisabeth Grieg "humbled" to become first woman to take presidency of Norwegian Shipowners' Association.
- DB comes through crunch
Deutsche Bank's ship finance arm grows profit in 2007 despite credit crisis.
- Ship sinks, one dead off Japan
Search on for three Filipino crew of Korean vessel which sank after colliding with two other ships.
- CMA CGM confirms con-ros
As mooted Hyundai Mipo bags order for quartet of container/ro-ros for French box giant.
- Owner rapped over collision
UK tells France's Transmanche to ensure full training in ship handling after ferry accident in Newhaven.
- OOIL slides
Hong Kong-listed boxship player sees stock fall after it opted not to repeat special dividend payment.
- Fredriksen seeks TUI seat
Tanker tycoon looking to boost his influence at German group amid reports merger talks with NOL have stumbled.
- Chemical scare on Kiwi ferry
Emergency services alerted to spill of phosphate from rail wagon on Toll's Aratere.
- Daewoo yards ahead
Increased orders for high-priced vessels push net profit up almost 450% at DSME.
- Aker goes to arbitration
Row with Kleven Maritime over sale of Floro shipyard could be settled this summer.
- Palmali circles Volgotanker
Turkish owner sets aside cash to snap up chunk of bankrupt Russian rival's fleet.
- STX eyes prize year
Korean shipbuilder aiming for over $3bn in sales this year as net profit soars in 2007.
- Napoli inquiry opens
Local council to consider issues of refuge for ships and public disorder following boxship beaching in 2007.
- More for China Cosco
Parent Cosco could transfer another $8.44bn of assets to listed boxship and bulker unit.
- Zlomrex tipped for victory
Steel distributor the likely winner of battle to buy Polish shipbuilder Gdynia.
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| MARCH 5, 2008 |
- OOCL profits up 29.3%, Tung says carriers acted more responsibly in 2007
- Aker Yards CEO goes after worst 4th quarter
- Thailand delays closing state line over corruption allegations
- CMA CGM orders con-ros for Delmas
- Cathay reaches record profit, cargo grows 10% in slow market
- Jade Cargo marketing partnership transfers from Swiss to Lufthansa
- UPS testing electric truck for London
- Study quantifies public benefits of inland barge transport
- Tribunal offers mixed decision on Canadian softwood lumber dispute
- Deutsche Post to split logistics unit
- CEVA's pro forma earnings up 56% in 2007
- Chiquita to source bananas from Africa
- Agility sets up Poland subsidiary
- DSV profit jumps 55% in 2007
- AAPA honors Sen. Byrd
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| MARCH 5, 2008 |
- Elisabeth Grieg new NSA president
The Norwegian Shipowners' Association (NSA) Annual General Meeting has elected Elisabeth Grieg, the Chief Executive of Grieg International AS, as the Association's new President. Grieg (48) was proposed unanimously by the election committee and succeeds Trygve Seglem of Knutsen OAS ...
- Greece courts London Greeks
George Voulgarakis has, as the first Greek minister of shipping ever, visited the London-based organisations Union of Greek Shipowners and Greek Shipping Cooperation Committee. He brought with him a message from the Greek government, which has the ambition to ...
- Oil price shoots through the roof
This week, the crude oil price passed the USD 100 per barrel mark in the futures trading at NYMEX in New York, and a record-high price of almost USD 104 was quoted on Monday. The price hike was not ...
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| MARCH 5, 2008 |
- CMF makes the change to 0.1% sulphur MGO
- Market firmer as US crude stocks dip
Crude rally continues on OPEC decision and unexpected inventory decline.
- Heavy fuel oil flow to East Asia continues
April cargo volumes at 12-month high but players warn of 'shortage of quality'.
- Bunker market report from Praxis
- No change from OPEC
Oil prices up after OPEC officials say group will maintain output.
- Training programme tackles bunker recruitment shortages
O.W. Bunker says international programme is 'first of its kind' in the bunker sector.
- Rotterdam market quiet
- New tanker for Fujairah player
Second of eight newbuilds on order for Middle East firm has begun operations in Fujairah.
- Europe still willing to work through IMO
European Commission source says environment ministers will wait to see what IMO decides before considering their own emissions reduction plan.
- Maersk calls for urgent measures to tackle bunker costs
A 'fair formula' needed in passing increased costs on to shippers.
- Japan bunkers reach new peak
Persistent product and barge tightness pushing prices up.
- Four more newbuildings for Aegean
Latest deal will bring Aegean's double-hull bunkering fleet to 44.
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