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| JUNE 11, 2008 |
Shipping News
- Chinese yards urged not to compromise on standards
CHINESE yards have worked hard to build their reputation for quality and this must not be eroded by a deterioration in standards during the current shipping boom.
- Baltic Dry Index falls a second straight day on fewer cargoes
The Baltic Dry Index (BDI), a measure of shipping costs for commodities, fell for a second day on reduced cargoes such as grains hauled by so-called panamax vessels.
- Iran plans to cut oil tankers, clear stored crude
Iran, Opec's second-largest oil producer, said it plans to cut the number of tankers idling in the Persian Gulf and clear a backlog of crude stored on them by the end of this month.
- French oil port strikers call for more action, govt under pressure
Strait Talk
- Opposing views emerge on liner shipping
IT has been an interesting week or two on the liner shipping scene. Owners and the shippers have expressed predictably opposing views on regulation, which suggests there will be a lot more heated debate before the remnants of the conference system finally disappear. There has also been a very off-the-wall report that has challenged much of the standard thinking on liner shipping economics.
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| JUNE 11, 2008 |
- Agility edges closer to acquiring Shenzhen's Cosa Freight
- 'K' Line, MOL receive ratings upgrade
- CSCL's Yangshan logistics park starts construction
- 8,530-TEU Xin Mei Zhou docks at Hamburg on maiden voyage
- Yangtze River Report, says boxes up 38pc and big spending opens interior
- Iraq seeks port developers for Umm Qasr
- Changi joins Russian JV partner to bid to run St Petersburg airport
- Lufthansa Cargo pushes full steam ahead with e-freight
- New UK and Ireland cargo manager for South African Airways
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| JUNE 11, 2008 |
- Pipavav Shipyard registering with Navy; keen to build patrol vessels
- Global shipping lines brace for the worst
- Sathe's maritime training programme tailor-made for novices
- WTO rejects US objections to India's import tariffs on liquor
- Exim Bank extends $ 25 m LoC to Syria
- (For) bidding norms for port, road projects coming under review
- NO EASY TASK - Done MFC Transport style
- Rlys modifies norms to soften impact of input cost fluctuation on contractors
- Derailed NAMA negotiations put back on track
- West's financial crisis will only fan growth in BRIC nations-Economist
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| JUNE 10, 2008 |
- Qatar Airways launches third Kerala destination
- Wincanton reports strong growth
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| JUNE 10, 2008 |
- Pirates shoot up livestock carrier
- Cosco arms ship "nearly home"
- Yards warned on quality
- Evergreen's new Adriatic service
- Tesoro's Q88 vetting project completed
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| JUNE 10, 2008 |
- Maersk acquires Teekay's stake in Swift Tankers
- RAND: No piracy - terror link
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| JUNE 10, 2008 |
- CSCL inks $560m boxship newbuilding deals
ORDER for eight 4,250 teu containerships will reduce carrier's reliance on Seaspan.
- Seaspan will pounce on 'distress sales' by owners
- CSD splashes $428m on panamax octet
CHINA Shipping Development books eight bulkers at Jiangnan Construction Group.
- Chinese shipyards urged to focus on quality
CHINA'S association of shipbuilders calls on members to focus on maintaining high quality.
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| JUNE 10, 2008 |
- 2008 oil forecast cut
THE International Energy Agency (IEA) has further cut its predictions for 2008 global oil demand as a result of government price subsidy reductions.
- Iran VLCC mystery
IRAN is thought to be hiding 14 VLCCs near an oil loading facility in Kharg Island, claimed today's Iran Daily
- TUI seeks Hapag sale approval
GERMAN shipping and tourism group TUI is seeking approval from the group's supervisory board to start the sale procedure for its subsidiary container line Hapag Lloyd
- LNG may reach surplus by 2014
THE LNG market is set to reach a surplus supply position by 2014, according to Peter Cleary, marketing chief of North West Shelf LNG
- Aussie bank boosts Forth Port stake
AN additional purchase of Forth Port stock by Australian investment bank Babcock & Brown (B&B), has sent the shares of the UK port group up 1.7% to 2,010 pence
- Keppel to invest for Batangas expansion
THE Singaporean-controlled Keppel Philippines Marine plans to acquire a stake in the property company that owns the land on which its Batangas shipyard is located.
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| JUNE 10, 2008 |
- EU: U.S. all-scan will slow world trade
European Union wants new U.S. president to ease requirement that foreign ports scan every container shipped to the United States as of July, 2012.
- TWIC delays concern panel
- DP World certified for U.S. anti-terror program
- EU trade chief urges rethinking of global economy
- CMA CGM, New World Alliance add all-water calls
- Truckers 'green' bottom line
- Oil fuels trade deficit
- BBC Chartering to launch U.S.-Mideast breakbulk
- South Carolina ports project aims for responsible growth
- Moller buys Swift tankers
- Forth Ports sells shares
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| JUNE 10, 2008 |
- Oughtred & Harrison falls to Geodis
- Maersk adjusts IA-2 service
- Evergreen boosts Med links with new Adriatic feeder
- Maersk Line adds Nansha to AE1 schedule
- NWA and CMA CGM boost Asia/Panama/US East Coast service
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| JUNE 10, 2008 |
- Vale in deep
Brazilian miner is mulling a deepwater port as part of a $1bn iron ore pellet project.
- Disney's record
The cruiseship Disney Magic has paid the most expensive toll to travel the Panama Canal.
- CSDC's weighty 8
China Shipping Development spends $428m on bulker octet, but are they really 760,000-dwt units?
- Sludge dread
Ships' oily-waste problems saw them fall foul of the US Coast Guard again last month.
- Grain strike ends
Argentine farmers have halted a strike that has cut off seasonal grain exports, but some roads to ports are still blocked.
- Swift is all Maersk
AP Moller-Maersk takes 50% of Swift Tankers, including 13 chartered-in ships, from Teekay Corp.
- Eight for CSCL
Li Shaode-led boxship owner rubber stamps $560m octet at Chinese yard.
- Palmali adds sixth
Turkish owner back at Russia's Krasnoye Sormovo for another 13,000-dwt tanker.
- $9m for Pac Basin
Newly-delivered handysize already exiting fleet as Hong Kong owner takes it back on charter for year.
- Box duo held
Japan detained Evergreen and Yang Ming ships during May after they failed safety checks.
- Minoan shake-up
Greek ferry owner facing reorganisation to combat fuel costs as Emanuele Grimaldi takes chair.
- FIS digs deep
John Banaszkiewicz's FFA broking shop donates all of Tuesday's commission to charity in memory of former colleagues.
- Wilson bags minis
Norwegian owner settles its differences with Chinese yard to finally pen eight-ship order.
- ABG gets bigger
Indian yard has strong fourth quarter to thank as annual figures show increases all round.
- Double-hull drive
Philippines' Magsaysay group pursuing deals for three double-hulled tankers to beat IMO phase-out.
- Yes, please
TUI's biggest shareholders, John Fredriksen and Alexei Mordashov (pictured), unsurprisingly want Hapag-Lloyd sale profit paid out in dividends.
- Batu expands
Hong Kong group wants to build second box terminal at Indonesian port on Batam island.
- Calling the shots
US giant Trico Marine wants its chairman to take over the top job at DeepOcean.
- Kreuz fire kills one
Indian national injured in AHTS fire at Singapore yard dies, no word on 14 other casualties.
- Posco in pole
Korean steel group tipped to take over Daewoo Shipbuilding & Marine Engineering.
- Another nibble
John Fredriksen outfit snaps up more shares in Malaysia's SapuraCrest.
- Puffin lifts profits
Cash flows in at former Frontline FPSO spin-off, which looks set to go private.
- Feeding the Med
Taiwan's Evergreen builds feeder network with new Adriatic and Balkans service.
- Ferry saves three
Alaskan state-owned Chenega picks up trio whose boat was smashed by big waves.
- Babcock ups stake
Aussie investment fund has picked up more shares in UK's Forth Ports group
- Rio going deeper
Miner Rio Tinto set to build new deep water port to allow larger ships to load bauxite at Weipa.
- Gulfmark beefs up
Offshore owner brings in M&A specialist less than a month after moving for Rigdon Marine.
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| JUNE 10, 2008 |
- OSG raises dividend 40%
- Aker reducing stake in Philadelphia shipowner
- Hamburg Süd christens 5,900-TEU containership
- TBS International buys bulker
- Danaos sells 30-year-old containership
- Evergreen to start Adriatic, Balkan feeder
- U.S. moves to block export of B747 to Iran
- L.A. council approves nearly $1 billion in bonds for LAX upgrades
- Fuel price rise in India to be passed to customers
- Kansas City Southern names new president
- Virginia shipper sentenced for illegal export to China
- Senate confirms DHS deputy
- CBP destroys bees in Mississippi ports
- CORRECTON: Wolfe roams Wall Street again
- Projects aplenty planned at Tuticorin port
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| JUNE 10, 2008 |
- Eitzen continues on path for global presence
Eitzen Maritime Services, EMS, has aquired the Dubai based ship chandler Seven Seas. The price tag is USD 115 million and after the deal, EMS is present in 60 ports world-wide and serves over 8,000 vessels with supplies ...
- Seadrill and Keppel in rig deal
Keppel O&M, Singapore is to build a semi-submersible tender rig ' buyer is Seadrill. The contract is worth USD 160 million. The unit with a crane capacity of 250 tonnes and accommodation for 160 people will be delivered the ...
- Odfjell sells parcel tanker
Odfjell is to sell the 5,870 DWT parcel tanker Bow Bahia, built 1996. The sale is a part of a two-ship sale including the sistership Multitank Bolognia owned by the company's partner Ahrenkiel. The vessels will be delivered in ...
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| JUNE 10, 2008 |
- Conditions set to ease in South Africa
New barge expected in Durban 'this month'.
- Bunker prices start to fall
Prices weakening in Asia and parts of Europe; Rotterdam players say demand in strong.
- Global bunker market report
- Engine manufacturer expects bunker quality 'to deteriorate'
Wärtsilä designing engine that can handle changes in fuel quality.
- Rotterdam market firm
- Singapore bunker prices dip
Prices dipped in line with crude oil price, traders say.
- GS Caltex cuts bunker supply in June
South Korean refiner increasing production of higher grade oil products.
- Oil supplies 'sufficient', OPEC says
Weak US dollar and international political tensions are pushing crude prices higher, oil cartel says.
- Sri Lankan supplier expands storage facility
Sri Lanka's largest supplier builds new tanks and orders new double-hulls for growing bunker market.
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