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| MAY 8, 2008 |
Shipping News
- STX Pan Ocean's Q1 profit soars to US$285m
STX Pan Ocean Co, South Korea's largest bulk shipping line, said that first-quarter profit surged almost five-fold as demand for transporting raw materials to China allowed it to boost prices.
- Shell hires tankers to ship jet fuel to UK
Royal Dutch Shell plc, Europe's biggest oil company, has hired two tankers to transport 140,000 tonnes of jet fuel from Asia to the UK after a strike at a refinery in Scotland cut supplies.
- TUI cuts operation losses on shipping activity
The biggest European travel company TUI yesterday said it had slashed an operating loss during the first quarter with a strong performance from its shipping operations.
- Airships for Subic Bay Freeport
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| MAY 8, 2008 |
- TUI's embattled Frenzel tells restive shareholders Hapag Lloyd sale is only way
- Bridge height to limit size of ships calling at Hong Kong
- Cosco quits, but Evergreen sticks with Asia Mexico Panama service
- Ningbo Bonded Logistics Zone reduces time and costs for re-imports
- PTP and MISC sign deal to form JV at Malaysian box port
- DP World's Jebel Ali to absorb all Port Rashid's cargo trade
- Sinotrans Container Lines celebrates decennial in Japan
- Aeko Kula names chief operating officer of Aloha Air Cargo
- Qantas sets up Perth base for 80 pilots to serve Western Australia
- Brunei to promote air, sea freight growth through policy initiatives
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| MAY 8, 2008 |
- Silver lining spotted for shipping lines
- Greatship orders 2 construction support vessels
- Licences of 6 global ship classifying firms revoked
- Tata Power poised to charter & acquire ships
- West Asia maritime charters 2 Handymaxes from Mitsubishi Corp
- Tolani Maritime Instt. charts new course from July
- Indonesia still stumbling block to FTA with Asean-Nath
- US review of anti-dumping duty on shrimp imports enters 3rd round
- Demand boosts oilmeal exports
- 4 luminaries get berth on MbPT Board
- JNPT's Maurya anchors at Geetapuram Port Services
- DHL seeks space in Jet Airways for cargo
- Gati off to flying start with AI tie-up
- CIL & Railways form task force to monitor coal transport
- BCHAA unveils general management training/lecture programme
- State govts agree to cut CST by 1 pc
- Courts may decide Goa SEZs' future
- NCAER more optimistic than RBI & govt!
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| MAY 7, 2008 |
- BLS: Tromp stepping down
- APL launches Asia-Australia service loops
- ANA freight division doing well
- UK: Allco sells European rail business
- BLG Logistics posts record results for 2007
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| MAY 7, 2008 |
- Cosco ship, "arms still onboard"
- Strong Q1 for Wilh. Wilhelmsen
- Aker Yards profit down
- GL sales up 16%
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| MAY 7, 2008 |
- Austal USA gains key security clearance
- Atlantic Marine lays keel for first AHL tanker
- Pride International to sell its platform rigs
- Ezra orders two OSV newbuilds
- Arms ship leaves Angola without unloading weapons
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| MAY 7, 2008 |
- New phase of Bellingham project moves ahead with lease approvals
- TOP Ships takes delivery of drybulk vessel ASTRALE
- Port of Olympia reminds public that boating/chowder event cancelled
- Port of Tacoma set to host Northwest Intermodal Conference
- APL adding new loops serving Asia/Australia trades
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| MAY 7, 2008 |
- Tui management slammed over 'strategic U-turn'
GLOVES come off at AGM as John Fredriksen's right hand man Tor Olav Troim blames Tui managers for sluggish financial performance.
- Tui moves to fend off Fredriksen bid
- Fears mount over refund guarantees at Korean yards
PROBLEMS in securing shipbuilding refund guarantees could now become a major issue for new South Korean and Chinese yards
- Clarkson contacted by FSA
SHIPBROKER and UK Financial Services Authority exchange correspondence over alleged delay in reporting $71m Russian claim.
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| MAY 7, 2008 |
- Battle over Hapag future escalates
TUI chief executive Michael Frenzel is facing a major challenge after a clash with shareholders today over the group's exit strategy for Hapag Lloyd.
- More MARAD defaults on horizon?
AMBASSADORS International could potentially default on two US Maritime Administration (MARAD) Title XI loans if it cannot find buyers for its Majestic America Line assets
- US river fleet on the block
AMBASSADORS International hopes for an orderly but swift sale of the seven vessels of its troubled Majestic America Line, a brand that dominates the US river cruise sector
- US bearish on tanker imports
THE US oil demand forecast has been cut in light of "the economic slowdown and high petroleum prices", while a much sharper drop is foreseen on the LNG front
- 'No bribery' says Hanjin probe
THE TASK force investigating the bribery-extortion claim and counter-claim in the Hanjin Heavy Industries & Construction shipyard project in Northern Mindanao, Philippines, has found no evidence that bribery and extortion took place
- SNRH still victim of politics
THE French offshoot of a Dutch towage company can finally start working in Le Havre after winning the eighth lawsuit in a row trying to stop it
- Work on HHI shipyard starts
THE GROUND BREAKING of Hyundai Heavy Industries' Gunsan shipyard started today.
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| MAY 7, 2008 |
- Weak peak container traffic forecast
Cash-strapped consumers, cautious retailers and record oil prices likely to drive down box volumes at major U.S. import gateways.
- Battle over Hapag-Lloyd at shareholders' meeting
- Jones Act probe to include Alaska, Hawaii, Guam
- Congressman: Pump $1.5 trillion into infrastructure
- Feds seek more time in ILA RICO case
- Customs Update: Travel and laptop computer searches
- ICL joins WSC
- Bush boosts Panama FTA
- Maersk changes EC S. America-Europe service
- W. Wilhelmsen profit drops
- Fuel helps Pacer net
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| MAY 7, 2008 |
- NCC boxes surge 22% on 2007
- Wan Hai sinks into the red in Q1
- Cape Town plan on target
- Yang Ming Q1 2008 profit back to black
- APL uses CASPER technology
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| MAY 7, 2008 |
- Aker wins rate cut
Top shipbuilder secures premium reduction despite needing cover for world's most costly vessels.
- Argentina talks break down
Farmers strikes that put the brakes on Argentine grain exports, and put pressure on dry-bulk rates, are "imminent".
- Scary scenario
Human error related claims are rising at an unprecedented rate warns Arne Birkeland.
- American Club in surplus
Joe Hughes reveals he will have good news come the annual meeting in June.
- Eagle to soar in 2009
After latest big fixture pushes stock near its all-time high, analysts boost profits estimates for Sophocles Zoullas-led Eagle Bulk Shipping.
- Teekay Offshore to float
Teekay Corp offshoot files a shelf registration to gradually issues up to $750m in shares.
- Marine hat trick
Singapore underwriters add Pertamina and PT Arpeni gains to the Evergreen success.
- Log-In in dry-bulk deal
Brazilian coastal shipping player to book two bulkers to haul 12 million tonnes of bauxite ore for 20 years.
- Row at TUI meeting
Reports indicate the shareholders meeting at TUI turned contentious as Fredriksen's right-hand man criticised management.
- Majestic's loss shrinks
Operating results for Ambassadors International's cruise line improve by 6.9%, and Windstar Cruise Line adds $19.4m.
- Eagle charter lifts shares
New York bulker owner grabs a one-year deal at a higher rate for the supramax Kittiwake, and the company's stock jumps.
- Mona Lisa evacuated
Passengers taken ashore from cruise ship stranded off Latvia after Monday's salvage effort fails.
- Finance costs hold back Finnlines
Non-operating expenses push down first quarter profit at Finnish ro-ro owner, but freight and passenger volumes up.
- Barge player at top of range
After giving warnings of EPS in the 'low single digits', American Commercial Lines posts $0.05 in per share earnings.
- BV boosted by newbuildings
Class society's marine division helps swell overall revenues by nearly a fifth.
- Greatship back at Colombo
Indian owner bags a brace of offshore vessels at Sri Lankan shipyard.
- Full ahead for GL
German class society builds 2007 revenue and hopes for more growth this year.
- Fredriksen ups the ante
TUI's number one shareholder ready to snap up 10% stake of nearest rival Alexei Mordashov ahead of crucial vote.
- Arms ship leaves Luanda
ITF says Cosco cargoship did not unload weapons intended for Zimbabwe, and has taken on more fuel.
- Mixed bag hurts Odfjell outlook
Norwegian shipowner's full-year forecast is lowered by over $0.50 per share after profits halved in the first quarter.
- SembCorp keeps costs down
Singapore yard group manages to boost first-quarter profit as costs fall further than revenues.
- STX Pan Ocean posts record
Korean bulker giant posts huge first quarter gain on the back of Chinese demand.
- Ezra at the double
Singapore owner orders two anchor-handlers at domestic yards for delivery in 2009, 2011.
- Dehn: lock-in bunker costs now
OW Bunker's risk management chief urges suffering owners to take control of rising fuel prices.
- Deep Sea goes long
Oslo-listed offshore owner fixes four units on period deals to reduce exposure to stormy North Sea spot market.
- Greek blows whistle on whistleblowers
Technomar hits out at crew saying "strained relationship" with engineer led to allegations of pollution from MSC-chartered ship.
- Lloyd Fonds in the red
Lack of products leads to drop in placed equity and loss in first quarter but German fund manager remains bullish on year ahead.
- Strong start for Wilhelmsen
Operating profits rise 12% on higher cargo volumes and greater demand for maritime services.
- Frenzel favours sale
TUI chief believes swift disposal of Hapag-Lloyd is best option, as container line's first quarter profit rises.
- Braemar broking booming
UK shipbroker boosts annual earnings as sale and purchase and chartering volumes increase in good markets.
- Red ink for Aker
Oslo-listed shipyard group's first quarter losses reach $8.08m despite improved showing from its offshore division.
- Blaze hits Russian yard
Major fire destoys part of assembly plant at Zvezdochka facility in Arkhangelsk.
- Stena exercises options
Swedish owner extends charters of panamax and product tankers from US-listed spin-off Arlington.
- Mercator sees profits surge
Fleet expansion plus buoyant freight rate environment help to boost results at Indian spin-off.
- Sinwa inks barge deal
Singapore marine supply company to build 300 man accommodation unit at Malaysian shipbuilder.
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| MAY 7, 2008 |
- Koch joins McCain campaign
- TUI reports improved shipping result
- Wilh. Wilhelmsen's 1st-quarter operating profit up 12%
- Barge line posts profit despite weather, oil and steel prices
- Germanischer Lloyd revenue up 16% in 2007
- Con-way to fight OSHA penalty
- Construction on Asia's largest container rail station to start
- WFP ramps up aid shipments to cyclone-shattered Myanmar
- ITC report: sub-Saharan Africa sees boost in 9 export industries
- Pacer net income up 83%
- Bangladesh joins those banning rice exports
- Damco joins ocean freight forwarders elite
- FMC reviews 17 OTI license applications
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| MAY 7, 2008 |
- DFDS sells four trampships
DFDS Group has sold its four tramp vessels from DFDS Lisco in Klaipeda. The four ships have been for sale since the autumn, when it was decided that tramping no longer should be part of the DFDS strategy. The four ...
- Norwegian campaign to ban the use of fast rescue boats at sea
A campaign conducted by Norsk Sjøffisersforbund for having a ban on transfer of personnel at sea with fast rescue boat will not have any effect on Esvagt, the Danish standby ship operator. "We are very much aware of the development ...
- Norden calls for extra ordinary general assembly
Dampskibsselskabet "NORDEN" has called for an extraordinary general assembly on May 28, 2008, to seek confirmation for a number of changes in the company. One of them is the change of name from Dampskibsselskabet "NORDEN" to Dampskibsselskabet NORDEN. The old ...
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| MAY 7, 2008 |
- US crude stocks up more than expected
Markets surprised but crude prices still closing firmer.
- No contaminants guarantees 'impossible' to provide
Leading industry source talks of 'no contaminants' panic in the ship owing community.
- Bunker market report from Praxis
- Russia fuel oil exports down more than 70%
Duties and refinery maintenance slash export volumes.
- Sharp profit drop for Odfjell's tanker segment
Bank cuts 2008 forecast for company shares as bunker price gains cancel out improved rates.
- BAF agreements boost first quarter results
Wilh. Wilhelmsen expects year-on-year profits to climb.
- Rotterdam bunker market firm
- New trader at StatoilHydro
- Goldman Sachs forecasts oil at $150-$200
Rising demand and slowing supply growth likely to support high crude oil prices.
- Malaysia shuts down floating fuel station
Subsidised diesel was sold 'illegally'.
- Bunker surcharges boost liner's revenue
Singapore-listed carrier reports a 46% increase in Q1 2008 after-tax profit.
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