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| OCTOBER 7, 2008 |
Shipping News
- Credit curbs hit weak shippers and shipyards
Access to credit is the lifeblood of maritime trade and the credit crunch has largely cut off that supply, threatening to weed out weaker shippers and shipyards, as well as hamper global trade.
- Muslim crew of hijacked ships allowed to fast, pray
Somali pirates pointed guns habitually at Malaysian and Filipino tanker crew members held captive for weeks, but allowed Muslim hostages to fast and pray to observe the holy month of Ramadan, news reports said on Sunday.
- Daewoo falls on reported delay
Daewoo Shipbuilding & Marine Engineering Co dropped to the lowest in 20 months in Seoul trading on concerns that the sale of a controlling stake in the world's third-largest shipbuilder may be postponed.
- Seaspan may tap debt facility to buy ships
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| OCTOBER 7, 2008 |
- Four Asian nations join in Sea or Japan liner service
- NYK president: Group must brace for leaner times
- Big box terminal on Sino-Russo-Mongol border at Manzhouli
- Fears mount Hebei Spirit master, CO unjustly treated
- Manila's ICTSI to develop, operate Brunei container port
- TAMP approves 10pc tariff hike at Mumbai's Nehru terminal
- Tank ship pirates divided on what to do with surprise booty
- Former BA exec to be jailed eight months for price-fixing
- Aeroflot Cargo launches Moscow-Istanbul service
- AiRUnion halts payments as St Petersburg Bank wobbles
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| OCTOBER 7, 2008 |
- Five leading shipping lines team up for North-East Asia-Oz trade
- Asia-Europe rates plunge to record lows
- Hamburg investors outbid NOL for Hapag-Lloyd
- Credit crunch now threatening shipping players
- TUI expects Hapag-Lloyd decision by next week
- Ms Louise Angel becomes 1st female master to take command of a Safmarine vessel
- MISC undaunted by piracy
- Asia-Europe cargo volumes continue to surge
- Maersk Line ups BAF on Med-Australia, hikes rate to NZ
- APM Terminals takes larger piece of S. Asia Gateway Terminals pie
- Indonesian ports hike handling charges
- California box tax bill 'terminated'
- AADA reduces bunker surcharge from HK-China to Australia
- Indian shipping companies spot silvery streaks in gathering gloom
- SCI weighs bids for purchase of 4 Capesize ships
- Footprints in the sands of India Shipping Summit 2008
- 3-day Seatrade Middle East Maritime expo in Dec. to focus on fuel, emissions & 'green' technology
- Teesport & NGCT offer more ideal options of doing biz with UK
- Sharp surge in sensitive items' imports
- 4-fold rise in exports to Korea
- Entire Bolshoi stage scenery airlifted from Moscow to HK!
- Sahil Freight Express Pvt. Ltd. reaches out for more project cargo biz in US
- KART consolidating S-E Asia trucking network
- NTPC gets wise to cost-effective coal transport
- Trade deficit swells to $ 14 billion in August 2008
- MSMEs hit by appreciating rupee, says Fieo official
- Dumping of nylon tyrecord fabric comes under scrutiny
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| OCTOBER 6, 2008 |
- Clasquin transferring to Port of Rotterdam Iinternational
- Grimaldi Group launches mandatory offer for Minoan Lines shares
- Good progress on BA-Iberia talks
- CargoLine consolidates partner network in Southern Europe
- Gefco planning to expand in Eastern Europe
- Pack & Move in Basel, 18-21 November
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| OCTOBER 6, 2008 |
- MSC charters sail-assisted cargo ship
- Senesco faces hefty EPA penalty
- Whistle blowers collect in STX Pan Ocean dumping case
- $15 million Ike clean-up contracts for Clough
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| OCTOBER 6, 2008 |
- APL celebration marks line's 160th anniversary
- Evergreen Line joining Asia/Australia services
- Portland Shipping Club announces Haunted Pizza Night
- Port Metro Vancouver aids Delta in purchase of Ladner Harbor property
- NASSCO lays keel for ninth T-AKE vessel
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| OCTOBER 6, 2008 |
- EU launches naval escorts in Gulf of Aden
MILITARY-led convoys of merchant vessels will begin this week, says European Union's piracy chief.
- Underwriters in muddle over piracy cover
- Economou in $1.2bn fleet expansion move
GEORGE Economou stuns market with deals for nine capesizes and two drillships.
- Conti sees no sign of shipping crisis
KG financing house says getting loans for newbuilding projects will not be easy but remains bullish about industry's future.
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| OCTOBER 6, 2008 |
- Economou makes a $3Bn move
DRYSHIPS is making Capesize and drill ship acquisitions that are worth almost $3Bn and involve sellers tied to DryShips chairman George Economou
- Royal Carib to sell Island stake
ROYAL Caribbean will sell its 50% share of UK-based Island Cruises to its long-time partner in the venture, First Choice Holidays
- Captain blamed in dredger deaths
GEORGIAN sea transport officials blamed the captain today for the sinking of a Ukrainian dredger, in which he and two others drowned
- Banks not lending: Economou
DRYSHIPS chairman George Economou believes drybulk fundamentals remain sound and that rates will rebound, but he expressed concerns on bank financing
- STX fined for illegal dumping
STX PAN Ocean has agreed to pay $750,000 to US authorities after pleading guilty over illegal garbage dumping from the South Korea-flagged bulker Pan Voyager
- Brazil stocks dive 9.25%
BRAZIL'S stock exchange, the Bovespa, fell 9.25% today, with shipping companies taking a nasty whack
- Cape valuations questioned in deal
DRYSHIPS chairman George Economou has answered critics regarding the high valuation of Capesizes being acquired from related private party Cardiff
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| OCTOBER 6, 2008 |
- ILWU members approve new contract
New six-year contract calls for total wage increase of about 16 percent over life of contract.
- 3PL CEO survey sees modest growth prospects
- Ocean lines likely to trim capacity after slack season
- TUI should postpone Hapag-Lloyd sale: Fredericksen
- Galveston port recovering
- Baltimore seeks partner to expand Seagirt terminal
- UP in Tacoma lease
- Evergreen, Yang Ming, Chen Lie start intra-Asia loop
- Pacer unifies brand
- ProLogis buys Europe DCs
- Maersk names box ship
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| OCTOBER 6, 2008 |
- 50,000 up at PLP
- CKYH chops Asia Med EMX
- Stocks and oil tumble
- Taiwan ocean carriers team up for new China/Philippines/Indonesia service
- Agility continues China expansion with new acquisition
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| OCTOBER 6, 2008 |
- Price defended
Analysts question price tag on nine capsizes in latest DryShips deal, but Economou says asset values should hold.
- George buys big
Economou's DryShips takes nine capes and two drillships in cash plus shares deal.
- Wages of virtue
Two Filipino crewmen to share $250,000 reward for blowing whistle on dumping this oily waste.
- Dramatic plunge
Shipping and offshore stocks begin the week in a steep freefall as US markets plummet in a sell off.
- Boycott threat
National Union of Seafarers of India threatening action if Stolt Valor hostage crisis continues.
- Dredger sinks
Two crew dead and captain missing after storm warnings ignored by Ukrainian ship in Black Sea.
- Cash in hand
With the launch of a new fund, Connecticut's Northern Navigation is trumpeting new liquidity for shipping and offshore deals.
- Call to action
US environmental group issues report seeking IMO action over shipping industry emissions.
- Seanergy swaps
Panagiotis and Simon Zafe-led outfit heading from the NYSE to the Nasdaq to boost liquidity and profile.
- Spill hits Miss
US authorities are investigating an oil spill on the Mississippi River after reports of a bunker discharge from a bulker.
- Stena cuts back
Stena Nordica pulled from Sweden-Poland route as passenger numbers fall and bunker prices rise.
- Moving for Minoan
Italian ferry group Grimaldi launches EUR 250m mandatory offer for Crete-based player's shares.
- Spanish practices?
Madrid based chemical carrier owner facing US 'magic pipe' pollution prosecution.
- Tough fight
UK accident probe highlights problems that made thermal oil fire on board Irish Ferries ship a real battle to extinguish.
- Java upgrade
Taiwanese trio Evergreen, Yang Ming and Cheng Lie launch new China to Philippines/Indonesia boxship run.
- No bailout boost
European shipping stocks hit hard as pessimistic outlook overshadows US injection.
- Marinette mourns
US shipbuilder to lay off workers after missing out on $1.5bn USCG order.
- Walking on water
Clough bags $15m double deal in Gulf of Mexico for Solstad-owned offshore unit.
- DSME sale stinker
Shipyard's stock slumps 15% on fears top shareholders will pull plug on sale.
- Courage buys
Singapore-listed shipowner is new owner of elderly Excel Maritime Carriers handymax bulker.
- Costly dumping
STX fined $750,000 in US after crew on a bulker chucked oil-contaminated rubbish into the Pacific.
- Out of order
Newbuilding contracts to fall by a quarter over the next year following financial chaos, bank warns.
- ASL bags a pair
Singapore shipbuilder wins newbuilding and fabrication work worth about $70m.
- Bulk for BLRT
Estonian shipbuilder orders eight bulkers at its Lithuanian yard for operation by joint venture with UMM.
- Phividec back on
Construction work to begin again on Hanjin's $2bn second Philippines yard after land dispute solved.
- Testing, testing...
Korean ferry set for trial run on route linking Niigata in Japan with Troitsa in Russia.
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| OCTOBER 6, 2008 |
- DryShips plans bulker, drill ship purchases
- Grimaldi purchases stake in Greek ferry operator
- MarAd unveils information system
- Evergreen Maritime Museum opens in Taiwan
- Maersk names new containership
- Ship owner, operator indicted in pollution case
- Sandberg appointed head of SAS Cargo's global sales
- New trans-Asia rail service to start after Chinese New Year
- Saia reduces workforce citing lower than normal volume
- Ashton to EU trade commissioner as Mandelson moves back to cabinet
- U.S. to strengthen trade ties with Georgia at Oct. 26-28 meetings
- AAFA lauds extension of Andean trade pact
- Illinois chemical shipper settles $115,000 export penalty
- Purolator USA appoints Schwoerer to head N.Y. regional office
- L.A. port approves major terminal construction contract
- Marseille, Mumbai ports sign cooperative pact
- CBP installs 5 radiation monitors at Port of Mobile
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| OCTOBER 6, 2008 |
- Stena Nordica stops sailing on the route Karlskrona-Gdynia
Stena Line has decided to take Stena Nordica out of traffic on the route Karlskrona-Gdynia. October 19 will be the last day for the ro-pax-ferry on the route. The reasons are few passengers and increasing fuel prices ...
- Marin Teknikk AS to design two offshore-vessels
The Norwegian company Marin Teknikk AS has made an agreement with an undisclosed Norwegian shipping company and with the Indonesian shipyard Batamec of designing two offshore-vessels of the type MT 6022 XL, according to the Norwegian newspaper Heroynytt. This ...
- Wilson buys two vessels for NOK 39 million
Norwegian shipping company Wilson buys the two vessels Wilson Gijon and Wilson Gdynia for NOK 39 million. The vessels are now owned by Caiano AS, that is the largest shareholder in Wilson ASA. The two ships are built in 1993 ...
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| OCTOBER 6, 2008 |
- Revised MARPOL Annex VI implementation delayed
Unanimous approval of Japanese IMO submission suggesting later entry into force.
- Bunker spill on the Mississippi
Operator reported to have overfilled its tanks.
- Russian fuel oil exports down almost 10%
Russian inland domestic demand is putting pressure on exports
- Global bunker market report
- Bunker spill in Peru
Cracked pipe blamed for leak at Callao.
- Asian bunker prices plunging
Reports say buyers are waiting for prices to fall still further.
- ARA - Many suppliers fully booked this week
- New storage tanks for Colombo
SPLA says port's bunker suppliers have agreed to invest in upgrade.
- Matrix Marine appoints new manager
- Indian refiner to sell bonded 380 cst in JNPT
Bonded bunker grade to be available as bunker demand is anticipated to rise.
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