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| MAY 12, 2008 |
Shipping News
- Torm reports drop in Q1 profit
Torm, the largest operator of gasoline and jet-fuel tankers, said first-quarter profit fell 92 per cent after the sale of a unit in the same period last year, adding that it is now benefiting from 'strong' tanker rates. Net income dropped to US$52.2 million, from US$674.4 million, a year ago, Torm said in a statement on Friday. Last year's figure included US$704.2 million from the sale of its stake in D/S Norden A/S.
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| MAY 12, 2008 |
- 'K' Line joins Wan Hai on Japan China Vietnam service
- New Beijing-Shanghai railway work starts to ease capacity crunch
- Offshore Ship Designers sets up office in China
- GAC names new GM for logistics in Dubai
- Toll sells rail and ferry back to New Zealand government
- Textainer up 29pc in first quarter, but see clouds ahead
- ICTSI buys more gear for flagship terminal
- European airfreight demand weakens up only 1.5pc in March
- China Southern Airlines to launch Qingdao Guangzhou Melbourne service
- Shenzhen Airlines starts Nanning-Philippines service
- DHL opens warehouse at Bangalore airport
- Air Malta flies to Leipzig, sees Germany on upswing
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| MAY 12, 2008 |
- Nigerian shipping routes now most prone to piracy
- Young shipowners of italy interact with CII officials
- Myanmar tragedy moves Maxicon Container Line to rush 2 shiploads of relief
- Mur Shipping officials interact with trade to enhance presence
- STC contracts to buy 8,000 t palmolein
- Myanmar tragedy may hit pulses supply
- Rice export ban may be eased
- Textile exports to US picking up, notes Jt Textile Commissioner
- High-level Latvian delegation calls on JNP
- Chittagong port proposed as N-E region's gateway once again
- Jayant Lapsia comes aboard MbPT Board
- ABG KCT becomes preferred port of call
- Dairy farmers ask govt to discourage oilmeal exports
- Steel makers ready to cut prices
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| MAY 9, 2008 |
- Interferry, IMO extend campaign to cut 3rd World ferry deaths
- AXA's marine business grows 16%
- Bourbon's strong Q1 results
- Tajani set for EU transport post
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| MAY 9, 2008 |
- House panel puts brakes on DDG 1000
- USCG issues marine safety alert
- Coast Guard takes delivery of Bertholf
- Bourbon reports strong first quarter earnings
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| MAY 9, 2008 |
- Corps selects Cottonwood Island as disposal site for dredge material
- US rail freight traffic sees gain in carload count
- Wi-Fi service now available at Anacortes ferry terminal
- Northwest Airlines plans Sea-Tac nonstop to Beijing
- Coast Guard accepts delivery of new Security Cutter BERTHOLF
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| MAY 9, 2008 |
- Cosco orders eight more boxship behemoths
NANTONG Cosco KHI Shipping Engineering to build 13,350 teu vessels in $1.3bn deal.
- China Cosco posts $876m net profit
- Genco snaps up Bocimar bulkers
GENCO pays $257m for two panamaxes and a suparamax, according to brokers report.
- Antonio Tajani to get EU transport chief job
ITALIAN Euro MP will be new commissioner as Jacques Barrot takes on new Brussels portfolio.
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| MAY 9, 2008 |
- US export surge spurs box shortfall
STONGER US exports have helped support the American economy, but the trend is causing a shortage of containers on both sides of the Pacific
- Daewoo in Russian yard plan
DAEWOO Shipbuilding is to join with Russia's United Industrial Corporation to develop a new shipyard, according to media reports in St Petersburg
- Court rejects disability appeal
THE Philippine Supreme Court has rejected an appeal by the country's ship management firms and crewing agencies to intervene in the 120-day disability case on seafarers' claims
- $1Bn deal for Brazil bulkers
RIO de Janeiro headquartered Log-In Logistica has secured a $1Bn contract to transport bauxite for Brazilian steel company Alumina do Norte do Brasil (or Alunorte) over the next 20 years.
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| MAY 9, 2008 |
- Borders secure, Basham eyes development of Customs trade strategy
Basham says agency would be focusing more on trade enforcement after developing its border security strategy.
- CKYH resumes AWE-5 service
- Oakland truck protest wanes
- U.S. narrows trade gap
- Jones Act carriers sued
- NAM: Cut component tariffs
- Wincanton to bid for TDG
- CMA CGM ship refloated
- Vycon powers LB cranes
- Steep decline for West Coast air cargo shipments
- Insurer Avalon tabs chief
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| MAY 9, 2008 |
- Is there a practical alternative to marine diesel?
Today (May 9), trading in a barrel of crude oil raced through the USD125 barrier, heaping more inflationary pressure on global transportation costs. The price of crude oil has now risen by over 25% from the beginning of the year, on prices that were already double those of the previous year.
- Felixstowe's delayed expansion finally gets going
- Thamesport wins back the Grand Alliance
- Independent Container Line sign up with WSC
- Canadian government funding 'green' freight initiatives
- NYK, Australia, to reduce costs with e-reports
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| MAY 9, 2008 |
- Coastguards stand firm on pay
A summer of strikes in the UK seems certain after latest meeting between union and government agency head.
- Cape floated on market
A Kleimar-owned bulk carrier is reported by brokers as up for sale.
- Peter G in $397m deals
Georgiopoulos' New York-listed companies have reportedly scooped up two tankers and three bulkers.
- California backs down
California' Air Resources Board says it will not enforce ship emissions regulations after a defeat in the federal courts.
- Deductible day
London insurance leader Simon Stonehouse says it is time shipowners took a reasonable share of their hull risk.
- Stolt, Jo also cleared
Stolt-Nielsen and Jo Tankers say the European Commission investigation against them has been closed.
- One not enough
Gulf Energy Maritime sells not one but two of its products tankers.
- Li and Cosco slug it out
Hong Kong billionaire and Chinese shipping giant enter dogfight for control of boxship activity at Piraeus.
- Money in the bank
P&I mutuals will need to raise more cash to stay afloat predicts RaetsClub's Martin Lanting.
- Tajani gets Jacques job
Italian Antonio Tajani takes over the European Commission transport portfolio following Brussels reshuffle.
- Wilson to double capacity
Brazilian offshore vessel owner and builder preps expansion at its Sao Paolo-area shipyard.
- Fos-Lavera forced to a halt
French oil port workers stage 24-hour protest over privatisation, as tankers asked to leave.
- Tight supply helps OSG
Lazard Capital Markets analyst lifts Morton Arntzen-led tanker owner's second-quarter forecast by 18% as tight supplies should keep VLCC rates firm.
- STX doubles up
Sister yard STX Shipbuilding once again chosen venue for pair as STX Pan Ocean brings VLCC order up to four.
- Missed spot a kick for Montanari
Italian tanker owner's first-quarter profit plummets as spot market crumbles and fuel prices soar.
- Pac basin takes a hit
Hong Kong bulker owner's stock falls after it placed shares at a discounted rate.
- Solstad slides
Norwegian offshore shipping player hit in first quarter by drydockings, falling rates and higher costs.
- NCSP snaps up Lomonosovsky
Novorossiyk port operator buys 50% share in expanding St Petersburg terminal.
- Golden Ocean trio in yard flood
Water bursts through natural breakwater at Jiangsu Rongsheng flooding dock building three panamaxes.
- STX seeks 8 more
Korean owner sets aside $290m for handy splurge in addition to $810m budgeted in January for acquisitions.
- Hong Kong holds three
IRISL bulker features on April detention list together with Hanoi Maritime multipurpose.
- Torm starts strongly
LR2s and panamax bulkers come through for Danish owner in first quarter.
- Yang Ming spins off bulkers
Taiwanese container line to move small dry cargo fleet into separate company, with IPO mooted in future years.
- Kawasaki Kinkai on a high
Japanese bulker and ro-ro owner nearly doubles annual profit in healthy markets.
- Shinwa surges
Japanese bulker and tanker owner posts big annual profit to March, but this year is not looking as good.
- Courage makes 'robust' start
Bulker owner posts a 32% rise in first quarter net profits as average revenue per ship jumps 60%.
- Revenues rise at Bourbon
Expanded fleet helps lift first quarter revenues at French offshore and bulker owner by over 20%.
- Premium challenge
Lars Rhodin explains his priorities as he takes the helm of the Swedish Club at a challenging time for insurers.
- Krumnow seeking 'elegant' exit
TUI chairman set to bow out after narrow victory in share holder vote, board member says.
- TBS off and running
US tweendecker specialist sees first quarter profits more than treble compared to a year ago.
- Cover on the cheap
Insurance broker Nick Berry spills the beans on some of the amazing bargains to be had in a soft insurance market.
- Boxship grounds off Melbourne
Cheng Lie Navigation's Francoise Gilot able to refloat itself after suspected engine failure.
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| MAY 9, 2008 |
- U.S. shippers urged to book far in advance with liner carriers
- TBS reports increase in profits, revenues
- Coast Guard takes delivery of cutter
- Containership refloated off Australia
- Hughes asserts ILA's place in short sea shipping
- Pelosi urges FMC to move SoCal truck plan forward
- Calje joins PD Ports from APM Terminals
- Transet orders 30 straddle carriers from Kalmar for Durban port
- ICTSI names new business development manager
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| MAY 9, 2008 |
- Storm circles WMU ' Sweden cuts support to half
When the IMO-governed World Maritime University in Malm', Sweden, is preparing its 25th anniversary, a large row has erupted over the school and the way it is managed. Last year, an external investigation was launched to examine the situation ...
- Damaged port cranes complicates Burma aid
The seagoing international aid to Burma following the tropical cyclone last week faces severe obstacles, due to a damaged main container terminal. Hutchison Port Holdings, which owns the Burma International Terminals Thilawa, says that terminal's cranes had been wrecked but ...
- O. W. Bunker in fleet renewal
O. W. Bunker & Trading Ltd. has taken the last steps in the company's fleet renewal. Two older ships have been sold off and two Clipper-owned tankers have been taken on bareboat charter for a period of seven years, and ...
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