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| FEBRUARY 7, 2008 |
Shipping News
- Asian aframax rates may end gains
Asian aframax charter rates may decline, after rising the least in four days, as the Lunar New Year holidays will slow hiring of tankers.
- DP World faces risks of slowing global growth
DP World Ltd, the port operator that raised US$4.96 billion in November in the Middle East's biggest share sale, was rated 'equal-weight' at Morgan Stanley because of concern that slowing global growth may reduce profit.
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| FEBRUARY 7, 2008 |
- Snow and ice storms in north west China create havoc for Shenzhen logistics
- Maersk to replace 200 Danes with cheaper international crew
- CMA CGM to develop, operate Maltese box terminal for 65 years
- Shenzhen's SCT January box throughput sets new high
- Megastar Shipping launches Singapore-to-Batam, Indonesia service
- One Malaysian operator said to be bidding for India's new Kerala container terminal
- Croatia backs out of Japan deal for new box terminal at Rijeka
- Dalian Airport cargo throughput up 12pc in 2007
- Vietnam Airlines signs GSA with Globe Air Cargo for Europe
- Philippine Airlines to start direct service to Chengdu and Chongqing
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| FEBRUARY 7, 2008 |
- Transworld Logistics opens expanded state-of-art warehouse at Jafza
- Mercator Lines draws up Rs 6,000-cr. diversification plan
- Emirates Shipping Line joins NIX service
- Kamal Nath calls for increased ties between SMEs of India & N. Ireland
- 38 pc rise in spices exports during April-Dec. 2007
- PSA acquires 49 pc stake in ABG Kolkata Container Terminal
- GTI organises free medical camp & insurance programme
- Bengal desperately seeking short-cuts to develop deepsea port
- Sugar export subsidy may be scrapped
- February 18 meeting to monitor 7 states' progress on export zones
- From Pennsylvania on business: IMC meeting tomorrow
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| FEBRUARY 6, 2008 |
- Inova Management appoints new managing director
- Maersk launches new intra-Asia service
- A new airline for Sub-Saharan Africa
- Geodis boosts sales in 2007
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| FEBRUARY 6, 2008 |
- Somali pirates strike again
- DP World's UAE volumes up sharply
- MOL's safety blitz
- New green code revision
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| FEBRUARY 6, 2008 |
- Seadrill ups stakes in Odfjell Invest and Scorpion
- Bourbon extends strategic planning horizon
- Washington State DOT fills key ferry job
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| FEBRUARY 6, 2008 |
- President's budget includes $36 million for Columbia channel work
- Port of Bellingham opens waterfront project information area
- Port of Olympia schedules annual boating/chowder event
- Hainan Airlines announces nonstop flights from Sea-Tac
- Port of Tacoma magazine now available on Internet
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| FEBRUARY 6, 2008 |
- Maritime supremo to represent British shipping
UNPRECEDENTED move aimed at presenting a united front for British shipping.
- Policy shifts threaten stability of UK shipping
- Future of shipping
IPOs at risk from volatile markets LEADING investment bankers give cautious outlook for shipping offerings this year.
- Sea Containers settles pension claims
INSOLVENT Sea Containers reaches deal in principle with trustees of the two main pension schemes.
- Maersk steers steady course for expansion
MAERSK Line has barely been out of the headlines as top management embarked on a major shake-up to return the ailing giant to the black.
- The value of shipping
IT WAS heartening to hear Shipping Minister Jim Fitzpatrick refer directly to the contribution made by the shipping industry to the balance of payments
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| FEBRUARY 6, 2008 |
- Fresh rumours of Hapag-NOL tie-up
TUI, parent group of German container line Hapag-Lloyd, is in talks with Singapore's Temasek Holding about a step-by-step merger of their shipping activities, according to a report in today's Financial Times Deutschland
- PRS enters dawn raids row
THE Polski Register (PRS) has lashed out at IACS and suggested that the creation of the common structural rules (CSR) trangressed an EU directive
- Ireland to probe ferry exploitation
IRELAND'S National Employment Rights Authority is to investigate claims that the crew of Irish Ferries' ferry Oscar Widle are only being paid '4 ($5.90) an hour
- Security patrol rescues survivors
A CANADIAN warship on security patrol last weekend rescued two Pakistani seafarers, the only survivors of an original crew of seven, adrift off the coast of Oman
- Human smugglers to face Spanish law
SPAIN has granted its courts jurisdiction over alleged crimes against foreign nationals on the high seas, allowing the prosecution of suspected migrant-smugglers
- Canadian shipper files Napoli suit
A YEAR on from the grounding of the containership MSC Napoli, a Saskatoon shipper is taking action to seek damages for the loss of cargo
- Fuel probe alarms cruise investors
- China facing met coal squeeze?
- Svitzer Korsakov crew safe
- Rough IPO waters ahead
- Thome gets new MD
- Lower profits expected for Prisco
- Maasvlakte 2 funding reaches $3bn
- Thailand to build big LNG terminal
- Samsung's profits soar
- Maersk big winner in MarAd budget
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| FEBRUARY 6, 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%.
- Peters: Freight transportation in the national interest
- AAPA 'disappointed' with Bush security, dredging budget cuts
- WTO drafts see no progress on Doha accord
- Corps asks $4.74B budget
- Vancouver pact back on
- Ukraine moves closer to membership in WTO
- Rotterdam completes financing for new container hub
- Oberstar blasts Bush budget
- Hamburg Süd ship joins Asia-Australia service
- Ag groups oppose Congressional sugar proposal
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| FEBRUARY 6, 2008 |
- DP World handles 11 million TEU at its UAE terminals
- Itajai Port president imprisoned
- World Bank sees Chinese GDP slowing
- Rotterdam secures Maasvlakte 2 funding
- Singapore launches CTS
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| FEBRUARY 6, 2008 |
- Trico bags $50m in credit
US offshore vessel owner signs up for a revolving credit facility with Nordea Bank Finland.
- Todd profits jump
US shipyard owner sees 17.4% boost in fiscal third-quarter earnings, even as contract volume slumps.
- Eye for Eagle Bulk
Asset manager Oppenheimer Funds reports a 6.4% stake in Eagle Bulk Shipping stock.
- Spin-off spins dividend
Teekay Tankers pays shareholders nearly $0.12 per share for its two weeks in 2007.
- Dividend out of the gate
Navios spin-off Navios Maritime Partners puts out its first divided, declaring $0.175 per share.
- Barclays barges in
Investment arm of UK bank takes a 5.2% stake in US tank-barge player Kirby Corp.
- Another bash for Scandlines
Baltic owner needs to repair second ferry in a week after Schleswig-Holstein hits buoy foundation.
- Stowaway goes berserk
A Turkish man is facing charges of criminal damage after threatening to set light to a boxship near the Port of Felixstowe.
- HHI in bulker owning JV
Seoul-listed shipbuilder teams up with Grand China Logistics to form dry-cargo venture.
- Neste reflags aframax
Finnish owner finds domestic flag more "competitive" as it moves jointly owned Stena Arctica from Sweden.
- Seadrill ups Scorpion stake
John Fredriksen- controlled Seadrill has spent NOK 15.83m to increase its holding in Norwegian drillship rival.
- Union threat to Maersk
Ratings say Danish giant is in breach of contract over job cuts among ex-pat seafarers in Far East.
- Aussies laugh off Geraldton woes
Western Australian minister delivers damning put-down to those threatening to abandon port over development delays.
- Havila sells again
Norwegian offshore owner lets 1995-built PSV go to unnamed buyer for $23m.
- Japan wants flag re-birth
Tax breaks on offer for owners moving ships back to domestic register under draft plans.
- Ship blaze off Croatia
Race on to save Turkey-flagged ro-ro on fire in Adriatic with all crew and passengers rescued by Greek vessel.
- TUI talk drags NOL down
Ongoing speculation about a tie-up between Hapag-Lloyd and NOL puts Asian boxship owner's shares into reverse.
- Mercator digs deep
Indian owner will spend $100m on three more dredgers from China this year.
- Western's tax woe
Scottish ferry owner battling to pay '1,000 in tonnage tax rather than £1.5m on profits.
- WSF ferry swamped by wave
Panic among passengers after US vessel goes nose-down into sea as water rushes into lower cabin.
- Bourbon sets out strategy
French group to plough big money into expanding bulker and offshore fleets up to 2012.
- Minted Mitsubishi wants more
Japanese shipbuilding and engineering group ups full-year profit projections after lucrative nine months.
- Humpuss lines up double hit
Indonesian tanker owner to break out the bonds and issue extra shares to raise $100m.
- RCL lightens the load
Regional Container Lines strengthens its balance sheet with sale and charter back of two boxships.
- L&T wants slice of engine action
Indian shipbuilding group reportedly the latest to consider move into ship power sector.
- Profits jump at Jaya
Shipbuilding and offshore activities lead the way at Singapore marine group as results jump 46%.
- Essar eyes $1bn issue
Indian owner seeks shareholder backing for massive share or bond sale as it prepares name change.
- Koreans plan Haiphong service
KMTC and STX Pan Ocean are set to start a new service between Pusan and Northern Vietnam.
- More dough for FOE
Fred Olsen Energy manages to boost annual net income as sales increase and costs fall.
- Knutzen teams with Allocean
Former Fred Cheng right hand man ties up with UK-based shipping-finance group in offshore venture
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| FEBRUARY 6, 2008 |
- Essar looking to sell $1 billion in equity
- CTSA adjusts bunker, currency charges
- BA World Cargo to add Hyderabad to Indian network
- British Airways' cargo volume up 16% in January
- Cargolux adding fourth weekly Hong Kong/Budapest flight
- United's system cargo ton-miles up 3.6% in January
- Taskforce: Budget cuts hurt Great Lakes shippers
- Kansas City Southern profits soar
- YRC Worldwide denies Yellow, Roadway merger plans
- Ukraine accedes to WTO
- Summit says court action allows it to continue normal operations
- Dominicans shut down border market for Haitians
- Former CBP officer convicted on drug charges
- SEKO opens new office in Puerto Rico
- AAPA: Not enough money for security, dredging
- Study pegs cost of cleaning up port pollution at $1.5 billion per year
- Port of Rotterdam secures another large loan for expansion
- Some Indian ports having trouble meeting throughput targets
- Reports: Greek port privatization stirs wide interest
- Copenhagen Malm' Port sees strong cargo volume, profit gains in 2007
- New report available on China ports
- Popesco to head port equipment group
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| FEBRUARY 6, 2008 |
- Nynäs and Frederiet order bitument tanker pair
Stockholm-based shipowner Frederiet has together with the oil company Nynäs ordered two 4,500-DWT bitumen carriers. The price tag is around USD 45 million. When delivered in April and July 2010 respectively, the vessels will enter long-term bare ...
- Superspeed I delayed for another week
Color Line's Superspeed I will be delayed for another week from Aker Yards in Finland due to technical problems and will now be delivered next Thursday in time to commence sailings from Kristiansand to Hirtshals on February 28th. Superspeed II ...
- 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-metre long ...
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| FEBRUARY 6, 2008 |
- Crude slips after huge US inventory gain
Bearish sentiment as stockpiles rise and recession fears persist.
- Mechanical failure caused Panama spill
Decal says only a small amount of fuel oil was released into the sea.
- Power failure disrupts MGO production
Cape Town players say product is still available.
- Rotterdam market soft at midday
- New capacity comes on stream in Fujairah
Vopak Horizon Fujairah's expansion comes at a time of 'unprecedented growth in global oil trade and shipping industry.'
- ExxonMobil sells Yanbu cargo for February
India's IOC has also sold a cargo for late-February loading.
- Fresh cargoes to replenish HK market next week
Supplies of 180 cst tight; some barging congestion ahead of Chinese New Year holidays.
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- Piazza Matteotti 1/3 - 16123 Genoa - ITALY
