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| SEPTEMBER 8, 2008 |
Shipping News
- Baltic index falls for 3rd week
The Baltic Dry Index, a measure of shipping costs for commodities, fell for a third consecutive week on slowing Chinese demand for iron ore and disruptions to Australian supplies of the raw material.
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| SEPTEMBER 8, 2008 |
- NYK to revamp its USEC-ECSA ANS service from September
- China Merchants' first half profit rises 33pc
- World Shipping Summit to be held in Dalian in November
- MISC bans its vessels from Gulf of Arden
- Port of Melbourne to finish channel dredging in 2009
- Oceanic Container Lines call off toxic cargo search
- Delta cargo beefs up sales team in France, Germany
- PIERS expands to include Latin American Air Cargo data
- Canadian airlines avert worst of slowdown, unlike US
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| SEPTEMBER 8, 2008 |
- Tulsidas Khimji consolidates position in heavy-lift forwarding
- 15 pc of ship's crew must be trainees passing out from maritime academies
- Somalian pirates now a major threat to shipping
- Maersk Line announces new BAF from Oct. 1
- SC postpones verdict on shipping cos' TDS issue to November
- Exim Bank extends $ 25-m LoC to Ghana
- Cruise terminals to be set up at 4 ports under PPP model in Phase-I
- Western dedicated rail freight corridor realigned to avoid congested areas
- TCI draws up Rs 200-cr. development plan, adopts new logo & brand line
- Nath wants car exports to touch $ 25 bn in decade
- Pan masala, gutkha exports to attract duty rebate
- Petrol, diesel price cut ruled out for now
- Small exporters seek FM's help to resolve derivatives losses issue
- Pillai sure of India-EU FTA this year
- UNCTAD report projects GDP growth at 7.6 pc
- VEDCouncil to showcase Nagpur's thrust areas for investors on Nov. 13 & 14
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| SEPTEMBER 5, 2008 |
- Martinair announces new general manager in Bogota
- Port of Hamburg shifts more boxes by barge
- Emirates adding more aircraft to fleet
- DB to acquire CTL Logistics Poland?
- SFS Unimarket AG receives Swiss Logistics Award 2008
- University of St Gallen logistics management event on 16 September
- Transit-Trans Kazakhstan 2008, 24-26 September
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| SEPTEMBER 5, 2008 |
- Malaysia sends warships to Gulf of Aden
- Eurocrats justify integrated EU research programme
- HAL plans upgrade spending spree
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| SEPTEMBER 7, 2008 |
- Hijacked yacht may be used as decoy
- Government support for Canadian tug newbuilds
- DNV to class 10 OSV's for Nam Cheong
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| SEPTEMBER 5, 2008 |
- Port of Portland eyeing new runway for Hillsboro Airport
- US rail freight traffic posts dip in weekly numbers
- Cook Islands accepted as newest IMO member
- Crowley helps US soccer team play qualifying match in Cuba
- Roadwork brings restrictions to intersection near Portland Airport
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| SEPTEMBER 8, 2008 |
- Box lines face painful 18 months ahead, says UBS
MANY lines will report losses for next 18 months as poorer trading conditions exceed previous market downturns of 1997 and 2001.
- Re-lets and tight deals keep boxship rates sliding
- BHP Yandi shutdown adds to capesize woes
CLOSURE of mine following worker's death comes as the average of the four time charter routes head towards their lowest level since February.
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| SEPTEMBER 5, 2008 |
- US transport scheme outlined
A SCHEME to improve the US marine transport system would be funded not only by the federal treasury but also by possible congestion surcharges, taxes and added fees
- Sarkozy sets sights on Nazaire
FRENCH President Nicolas Sarkozy said today he is about to begin negotiating with STX for a 9% stake in the former Chantiers de L'Atlantique yard at St Nazaire
- Dodging storm proves unpopular
PROVING again that people are a difficult cargo, passengers aboard Carnival Miracle are protesting about a course change made to avert Tropical Storm Hanna
- Maersk BV ups Colombo terminal stake
MAERSK BV, a subsidiary of AP Møller Terminals, has increased its stake in South Asia Gateway Terminals to nearly 30%
- Eight saved off grounded ship
RESCUERS from a helicopter saved the eight-man crew of a Cook Island-flagged general cargo ship
- New Santos boss extends tax discount
BRAZIL'S shipping companies are reacting in delight after the new president of the Santos port authority council extended the 50% discount on taxes paid on cabotage cargo until the end of this year
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| SEPTEMBER 5, 2008 |
- Exports pump up West Coast containers
Double-digit export growth in July helped West Coast ports to pull almost even with containerized cargo volume in 2007.
- Koch returns to WSC
- Mexico suspends meat and poultry exports to U.S.
- Intermodal rail traffic tops high mark for year
- FMC to meet Sept. 11
- Seaway traffic lags
- Euromax Terminal opens
- Menlo expands in Mexico
- Hutchison drops India plans
- Japan express provider Yamato expands in China
- Nhava Sheva free time cut
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| SEPTEMBER 5, 2008 |
- Does the conference void mean shippers are less informed but overcharged?
Crude oil prices continued their fall this week finishing at a level of USD109 a barrel, significantly down from a globalisation-reversing level of USD147 reached in mid-July. However, prices at the pumps are, as usual, slow to react to the 34% drop in crude prices, gaining the oil majors' millions of dollars in the interim. But the major ocean carriers are cannier and have more clout than the average motorist and are paying 30% less for IFO380 since the July peak. So why is this not being passed on to shippers through reduced BAFs?
- Zim drops its home ports
- DCT Gdansk handles its biggest yet
- Senator also switches to Cagliari
- P&O Ferrymasters pioneers Russian rail service
- Investment announced for upgrading Prince George intermodal corridor
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| SEPTEMBER 5, 2008 |
- Navios buys capes?
Angeliki Frangou-led bulker owner is reported to have bought a pair of Alba Maritime's STX capesizes.
- Arntzen cruising
OSG chief executive is elected to the board of directors at Royal Caribbean International.
- Spencer's OHL bid
Norwegian energy player kicks off takeover of Oslo-listed shipowner after $1.07m raid on stock today.
- Bow Santos sold
Odfjell Asia picks up about $40m in a sale-and-charterback of a chemical tanker.
- 'Oily' is good
As Goldman Sachs unveils taste for oil services companies, Hornbeck moves from 'sell' to 'neutral', and Transocean gets a top rating.
- Chilly mission
A US Coast Guard official gives an update on first patrols of the Arctic in anticipation of shipping growth there.
- Caribbean push
Reefer player Seatrade sets up weekly service from Europe to Trinidad, Venezuela and Colombia.
- It's quotes time
If you don't want to read any gloomy forecasts on the market turn away now.
- Sarkozy's foot in
France takes 9% share of Aker Yards France following STX's takeover of Europe's largest shipbuilder.
- Egypt ship named
Red Sea Navigation's Panama-flagged Al Mansourah now anchored off Horn of Africa tip after hijacking.
- Gustav still hurts
New York marine insurer Nymagic says its drillship and platform portfolio expects $1m in losses from Hurricane Gustav.
- Grimaldi rattled
Italian group still interested in buying state-owned ferry company Tirrenia, but has warned of "skeletons in the closet."
- Unhedged
As dollar strengthens, Swedish tanker owner Concordia Maritime ends hedging for fluctuations in the value of the dollar.
- London calling?
Is another foreign shipowner about to join three Greeks in London capital market?
- Spot on?
The strong dry-bulk spot market helped Globus Maritime's result, but is it about to sell some vessels?
- Malaysian double
Shipbuilders Boustead and Sealink join forces to win accommodation vessel work for Swire.
- Oslo falling
Offshore players suffer as declining oil price leads 11% fall in main index over the past week.
- Sri Lanka link
Think tank wants to see ferry service restored between island state and southern India.
- Prepare for pain
Boxship slump shows increasing parallels with 2001-02 downturn with balance sheets to suffer in the second half, UBS says.
- Kathrine rising
One of John Fredriksen's twin daughters to join board of Seadrill as Norwegian tycoon goes up for his own re-election.
- Grimaldi gets cash
Italian owner scores $115m loan from the EU to pay for newbuilding as part of motorways of the seas initiative.
- CSBC on track
Reborn Taiwanese shipbuilder wins regulatory approval to sell 211m shares in domestic IPO.
- Sealink to spend
Malaysian owner and shipbuilder lines up MYR 50m investment to expand Kuala Baram yard.
- Azov-Don opts in
Russian owner goes ahead with two more dry cargo vessels at Volgograd Shipyard.
- Boost for BLRT
Estonian shipyard group's first half profit rises 40% as revenues also grew sharply.
- Timely rescue
USCG air crew lifts eight men from grounded cargoship in Caribbean as tropical storm Hanna moves in.
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| SEPTEMBER 5, 2008 |
- Koch returns to World Shipping Council helm
- Ship owners could face further hikes in P&I insurance costs
- Senator Lines, Hapag-Lloyd leaving Gioia Tauro for Cagliari
- Committee release Marine Transportation System report
- Shipping companies trim New Jersey offices
- BBC turns shipper to promote The Box
- Ship lessor plans U.S. listing
- YRC puts Kelley in charge of greening company
- Canadian Pacific names McQuade CFO
- Lambert leaves Norfolk Southern
- FedEx Freight facility goes solar
- Mexico halts exports of beef, poultry to the U.S.
- Pacer names Kane as CFO
- Menlo relocates Mexico office
- TradeBeam releases upgrade to GTM application suite
- OHL adds customs clearance office
- FMC reviews 18 OTI license applications
- Federal judge approves NRF, NRDC joining ATA-SoCal ports suit
- Tacoma port looks to sell Maytown 'logistics center' parcel
- COSCO ship makes Yantai terminal maiden call
- Copenhagen Malm' Port cutting jobs as car volumes decline
- DCT Gdansk handles biggest ship
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| SEPTEMBER 5, 2008 |
- Obama gets support from seafarers' union
The Democratic Party's candidate in the presidential election of the United States of America, Barack Obama, gets support from the US-based Seafarers' International Union, SIU. "The SIU is proud to endorse the candidacy of Senator Barack Obama for President ...
- Rosneft took delivery of arctic tanker
On September 3, the Spanish shipyard Factorias Vulcano in Vigo delivered the arctic tanker RN Arkhangelsk, 30,000 DWT, to the Russian oil company Rosneft. RN Arkhangelsk is the first tanker in Rosneft's fleet. The vessel will transport oil from the ...
- VDR fights to keep Hapag in German hands
The German owners' association Verband Deutscher Reeder, VDR, opposes a sale of Hapag-Lloyd to a foreign buyer. VDR fears that such a scenario could endanger thousands of jobs and weaken the maritime industry in Germany, Lloyd's List reports. On ...
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| SEPTEMBER 5, 2008 |
- Bunkering suspended as Tropical Storms Hanna and Ike approach
US East Coast bunkering closes as storms threaten disruption, backlog in US Gulf as operations resume following Gustav.
- IMO under pressure to act to cut emissions
Key issue remains unresolved ahead of next month's MEPC meeting.
- Global bunker market report
- Ceuta losing its bunker barge
No plans at present to replace the barge, which is single-hulled.
- ARA fuel oil stocks up, prices down
Soft trend resumes Friday, bunker market tight for prompt supply.
- Bunker prices continue to slide
Hong Kong prices have fallen more than $58 since the start of the week.
- 'Weaker outlook' for container sector
NOL 'scaling back its offer' for Hapag-Lloyd.
- Rotterdam market very quiet
- Singapore's accredited suppliers up to 76
Joint venture bunker firm doing ex-pipe deliveries gets accredited.
- 180 cst cargo sold to Middle East trader
Fuel oil cargo scheduled for late-September loading.
- Samsung Heavy offers fuel saving technology
Shipowners 'can save up to $1 million per ship per year'.
- Sri Lanka may lose $350m in bunkering revenue
Country could see drop in monthly bunkering revenue once its biggest bunker supplier exits the market, says analyst.
- Brazil turns down OPEC membership
Meanwhile, OPEC welcomes Indonesia to remain in the cartel as an 'observer'.
- Indian refiner to sell 380 cst cargo
Fuel oil parcel scheduled for late-October loading.
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