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| APRIL 10, 2008 |
Shipping News
- UPS cuts Q1 outlook, citing lower volume, fuel
A weakening US economy, reduced domestic package volume and significantly higher fuel costs prompted UPS Inc to cut its first-quarter earnings forecast, two weeks before it releases its results for the January to March period.
- Tanker rates set to halt 7-day fall
The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may halt seven days of declines as refuelling prices traded near a record, reducing the incentive for owners to lease their carriers.
- North Carolina expedites plans for deep-water port
North Carolina is moving ahead with plans for a US$2.3 billion, deep-water port near the mouth of the Cape Fear River and officials expect to have a funding strategy in place by year's end.
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| APRIL 10, 2008 |
- Maersk to launch floating bunker surcharge at revised rates
- Hangzhou trade growth slips as export balance tips from US to Europe
- Seaspan secures loan for two 13,000-TEU ships
- Hanjin to build box terminal in Jacksonville, Florida
- Globe Express Services opens in Phnom Penh, expecting steady growth
- Panama Pacific entrance dredging contract awarded for US$177.5 million
- Felixstowe rail expansion to boost train capacity 10pc
- Hong Kong Oasis Airlines closes bookings as costs swamp operation
- China Eastern Airlines recommences Shanghai-Moscow service
- Air China to launch six services in summer and fall
- Air India launches India-Shanghai direct service
- Aloha Airlines latest to fold in US as more shutdowns expected
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| APRIL 10, 2008 |
- Maritime issues engaging govt's attention, assures Shipping Secy Sarma
- GAC India celebrates 2007's record performance in style
- Aries Global opts for Four Soft's software
- Dolphin Offshore gets LoI to build shipyard at Jafrabad in Gujarat
- Poor Chennai-Ennore road link 1 factor hampering box movements
- Gammon Infrastructure to buy higher stake in Vizag Seaports
- DP World takes gigantic strides
- Move to infuse life into North-East land Customs stations
- Exporters let down by MoF fixing just 2.5 pc as foreign agents' commission
- Rate on foreign currency-denominated export credit set to surge
- $ 500 bn exports in 5 years!
- As inputs in TN dwindle, silent is the spindle!
- India Inc sees price fever hotting up
- Bridging the Gulf in business: Ficci conclave in Delhi
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| APRIL 9, 2008 |
- Intertanko welcomes fuel deal
- American Commercial issues warning
- Middleton joins TRS
- Pilot ladder guidelines
- TNWA, CMA CGM start joint service
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| APRIL 9, 2008 |
- Cruise ship engine fire forces evacuation of passengers
- Sears honors Crowley for sixth year straight
- Port of Everett begins commission meeting pod-casts
- Greenbrier buying assets of Roller Bearing Industries
- Horizon Lines announces interest rate swap
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| APRIL 9, 2008 |
- HSH Nordbank rides out sub-prime crisis
BANK has increased profits and new business in ship financing over the past year.
- Melchiors moves to IACS
FORMER BIMCO Secretary-General to become the Permanent Representative of IACS to the European Union.
- Keeping watch over Norway's maritime course
NORWEGIAN Trade and Industry Minister Dag Terje Andersen talks about the government's vision for the maritime sector.
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| APRIL 9, 2008 |
- FFAs out of whack
FORWARD Freight Agreement (FFA) rates have widely diverged from rate forecasts built into public shipping company estimates, creating a potentially lucrative pair-trade opportunity.
- Carnival hits back with new fuel levy
CARNIVAL Cruise Lines has increased its fuel surcharge by 40%, just a week after agreeing with the Florida Attorney General to refund retroactive fees
- HSH profits crushed by sub prime losses
LEADING shipping bank HSH Nordbank saw a 65% net profit meltdown to €285M last year, due to massive investment losses on mortgage-backed securities
- Basham pulls plug on GTX
US CUSTOMS & Border Protection has shelved plans to launch a global trade exchange that would warehouse trade data for the US and other national governments
- Boxship crew wins safety award
JONES Act carrier Horizon Lines has received the AMVER-Assisted Rescue at Sea Award for the efforts of one of its crews
- Reyes replaced as Mexican maritime boss
QUESTIONS are being asked in Mexico City today over the future of the country's port development after Cesar Patricio Reyes Roel was replaced this week as the country's maritime boss.
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| APRIL 9, 2008 |
- Exporters battle delays, box shortages
U.S. shippers are whipsawed as high export volumes and lower liner capacity in U.S. trades reduces available space for outbound container cargo.
- Pelosi seeks rule change to defy Bush on Colombia
- ILWU earnings fall for first time in 20 years
- Customs won't develop GTX trade data warehouse
- Census official: Export e-filing rules still pending
- Environmentalists block part of Port Everglades plan
- UPS warns on profits
- Export ABCs: Making payment terms work
- SCI ordering 40 ships
- Freight index flat
- Roadway offers China-U.S. expedited ocean service
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| APRIL 9, 2008 |
- OTAL adds Conakry
- Canada launches rail freight review
- European intermodal operators team up between German ports and Hungary
- Sharjah and APL combine in record productivity
- Seaspan builds war chest in readiness for 'fire sales'
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| APRIL 9, 2008 |
- Shipping grows at HSH
Despite a writedown from subprime mortgage exposure, HSH Nordbank's earnings from shipping jump by nearly 40%.
- BW Gas case settled
Spanish city council says it has reached an out-of-court settlement over a spill from the Berge Frost.
- Royal hires newbuilding head
Royal Caribbean Cruises puts a maritime industry veteran in a new role overseeing the newbuildings program.
- Bridge bash pilot's D&D past
Cosco Busan pilot was convicted of driving under the influence and took medication which may have harmed his concentration.
- Carnival reaching for more
After refunding some fuel surcharges, Miami- and London-based cruise giant plans an increase.
- Pacific Carriers fined
Singapore owner's Pacc Ship subsidiary pleads guilty and pays out a $1.7m criminal fine for two MPP's oil discharges.
- Mordashov doubles TUI stake
One of John Fredriksen's allies at the German group takes his holding beyond 10%.
- Apollo preps New York IPO
Private equity with cruise industry interests plans for a $418m with a New York Stock Exchange listing.
- Cosco Corp snuffs rig order
Norwegian owner Red Flag has rig hull contract at Cosco Zhoushan pulled after no deposit was paid.
- Rickmers gets cash
Singapore-listed shipping trust has netted loans for over $600m to cover the cost of nine newbuildings.
- Finland out of Aker race
Baltic state will not be part of a European consortium aiming to block STX's take-over at the Oslo-listed shipbuilder.
- Odessa makes tanker spill arrest
Reports indicate owner of chemical tanker already served with $1.7m claim after alleged leak at Black Sea port.
- Ezra results edge up
Singapore-listed offshore vessel operator has reported a 3% increase in year-on-year net profits.
- Three's lucky for Cosco Corp
On day Singapore-listed yard group announced rig order cancellation, Dane and American sign for tankers and offshore unit.
- CNR stretches Solstad deal
Charterer snaps up one year extension on 1998-built platform supply vessel.
- Yantai profits up 75%
Chinese shipbuilder rides newbuilding boom with promise of better to come in 2008.
- Alam wins extensions
Malaysian offshore vessel operator has won three year extensions for anchor handler charters.
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| APRIL 9, 2008 |
- American Commercial Lines anticipates weak earnings, executive leaves
- Dafni resigns as head of CMA CGM subsidiary CNC Line
- Vos replaces Laungaard at Maersk Line
- Eimskip speeding Iceland/North America service
- Company fined $1.7 million in oily water case
- Delmas changing Europe/West Africa loop
- Horizon, Wachovia in interest swap deal
- Maersk swaps Europe port on South America string
- UPS lowers expectations as weakening U.S. economy hurts volumes
- CN: Re-regulation would require return to taxpayer subsidies
- Great Lakes carriers back effort to fight fish virus
- CBP spikes GTX project
- FTC president warns lawmakers against unilateral Iran sanctions
- GAO: U.S. trade preference programs require improved evaluation
- CEVA Logistics to distribute Piaggio motorbikes, scooters in Europe
- Textile company, railroad spar in court
- McCown joins Hunton & Williams
- Edwards is new head of ADS Logistics
- Greatwide Logistics acquires Camrett Inc.
- COSCO Pacific profit up 47%
- U.K. coastguards to strike again
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| APRIL 9, 2008 |
- Swedish employers issue notice of lockout
The Swedish Shipowners' Employers' Association has issued a notice of lockout as a reply to the notice of strike filed by the Swedish officers unions on Tuesday. The lockout will enter into force on 18 April at noon if the ...
- Rosella to replace Ålandsfärjan
Viking Line transfers the ferry Rosella to the Mariehamn ' Kapellskär service. On her present route between Helsinki and Tallinn the Rosella will be replaced by the newbuilding Viking XPRS in the end of April. The Rosella enters the service across ...
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| APRIL 9, 2008 |
- Oman fuel oil parcels 'unlikely' to find Asian buyers
Problems with residual fluid catalytic cracker put three fuel oil cargoes on market for April loading.
- Oil above $111 on bullish US inventory report
- Bunker market report from Praxis
- INTERTANKO's goals 'fully achieved' at IMO
Says its 2006 proposal became a catalyst in reaching 'historic agreement' on revisions to MARPOL Annex VI.
- Energy sector concerned about low sulphur availability
IMO bunker fuel sulphur reduction targets are unlikely to be met in full, warns oil industry association.
- SECAs becoming ECAs
New name signifies that sulphur is not the only aspect of shipping emissions that can be capped.
- New employee at Global Risk Management
- New barge sets Durban delivery record
Double-hull new-build records 'fastest' bunker delivery.
- Rotterdam market stable
- Oil to stay above $100 a barrel: US forecast
US-based EIA predicts firm oil prices on tight global supplies.
- Indonesia urged to provide fuel subsidies
Subsidies for fishing boats fuel have become 'urgent', state council says.
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