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| FEBRUARY 13, 2008 |
Shipping News
- Asian tanker rates may extend declines
Asian hiring rates for oil-product tankers, near their lowest in three months, may this week extend declines as more vessels compete for the limited amount of cargo available after the Chinese New Year holidays.
- Proposed UK tax change could hurt maritime sector
The Baltic Exchange, a London-based provider of shipping prices, said UK government proposals to alter foreigners' tax status may damage the country's '1.5 billion (S$4.1 billion) shipping-services industry.
- Change in federal rule may threaten US cruise ports
Portland's gleaming, US$21 million terminal for cruise ships and ferries will open this spring. Another US$7 million berth built to accommodate the world's largest cruise ships will follow next year.
Strait Talk
- A poster that just screams for attention
THE mess decks and alleyways of merchant ships these days tend to display an awful lot of posters, mainly about safety.
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| FEBRUARY 13, 2008 |
- US box traffic to drop in February, but rises to June, says Port Tracker
- NOL profit up 44pc to US$523 million with box pick up in Q4
- MOL to open agency for Japan-Russian route with Fesco
- Singapore's PSA buys 49pc of box terminal in Kolkata (Calcutta)
- Kenya's congestion shifts from quayside to inland depots
- NYK ranked seventh in best companies to work for rating
- IATA and Jordanian Logistics Association hold Amman seminar
- Air NZ deploys Indian air cargo management system
- UK's Air Action courier re-brands as Action Logistics Group
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| FEBRUARY 13, 2008 |
- Maersk Line switching to euro tariff on Europe-Oceania trade from April
- MOL instals bridge simulator at training centre in Pune
- Russia invites more investments in metallurgical sector
- $ 14.5-m Exim Bank LoC for Gabon
- With V-Day dawning, Pune floriculturists bask on bed of roses
- Panama Canal expansion seen impacting US ports
- OCS study sees need for enormous investments at Indian ports to handle burgeoning box volumes
- JM Baxi makes new mark in bulk cargo loading
- Hindustan Cargo Ltd in seamless logistics manoeuvre of the ODC kind!
- Ministry proposes Rs 1,200 cr. for 2-laning of highways
- Macroeconomic policy earns IMF chief's encomiums
- Firm's 'charges' eligible for I-T deductions-SC
- Facilitate $ financing, GJEPC urges govt
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| FEBRUARY 12, 2008 |
- Kuwait Airways Corporation names new chairman and MD
- German seaports continue to grow
- Delta and Northwest about to merge?
- Wincanton takes over Con-Sped's container business
- DHL wins freight contract from Siemens in USA
- Opening today: World Air Cargo Event, Bahrain
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| FEBRUARY 12, 2008 |
- LNG carrier drifting off Cape Cod
- Golden Ocean's earning up
- K Line joins CRS route
- LR-Fairplay takes 100% of AIS Live
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| FEBRUARY 12, 2008 |
- GD unit to integrate mission systems for Austal JHSV
- NYC to unveil bold new ferry plan
- VT Halter Marine books PSV orders
- Disabled LNG ship under tow
- MAN Diesel gensets for TML ships
- IMO panel makes progress on emissions reduction
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| FEBRUARY 12, 2008 |
- LNG tanker under tow off Cape Cod
A rescue tug has successfully connected with the fully laden LNG tanker Catalunya Spirit and stopped the vessel's southeast drift east of Cape Cod
- NAT predicts continuing volatility
NORDIC American Tanker Shipping is predicting continued high volatily in the tanker markets as the market balances high deliveries and deletions
- PDVSA sells out to private equity
VENEZUELAN oil giant PDVSA has sold its Bahamas Oil Refining Co (BORCO) to private equity firm First Reserve Corp
- Hawaii ferry woes worsen
HAWAII Superferry's Alakai will be pulled from service tomorrow for a two-week drydocking, yet another setback for the islands' shrinking passenger ship sector
- Steel guru takes over Russian fleet
THE North-Western Shipping and Volga Shipping fleets have been taken over by Vladimir Lisin, owner of one of Russia's largest steelmakers
- LRF takes full control of AIS Live
LLOYD'S Register-Fairplay has bought out its partner in AIS Live for €4.5M, giving it full ownership of the online vessel tracking system
- Three to bid for new North Sea link
- Nakilat builds up LNG service yard
- Sea Diamond faces legal threat
- KG powerhouses heading for merger
- Golden Ocean relaxed despite falls
- SembCorp repels first legal assault
- Singapore stops swimming migrants
- Small yard eyeing larger ships
- Hanil Steel in shipping line JV
- Star parent's billion-dollar credit
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| FEBRUARY 12, 2008 |
- Maersk Line consolidating North American sales and customer service
Largest box carrier plans to consolidate its North American sales and customer service from six regional offices into five.
- NOL Q4 profit up 44%
- APL Logistics guarantees time-critical FCL delivery
- "K" Line expands China-Red Sea
- DHL cutting 600 U.S. jobs
- Shipowner MPC launches bid for smaller rival
- Intermodal a bright spot for Pacer quarter
- Treaty sought to stop smuggling of tobacco products
- American Airlines expands express guarantee for cargo
- Cervenak to lead Containerization & Intermodal Institute
- CEVA expands Brazil DC
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| FEBRUARY 12, 2008 |
- NOL's profits soar amid continuing rumours of merge with Hapag-Lloyd
- US to run with eLoran navigation back-up
- UK truck operators lobby government over planned increased duty
- Box claims continue to soar
- K Line takes space on CRS (Central-China/Red Sea) service
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| FEBRUARY 12, 2008 |
- Owner beats estimates
US-listed bulker and tanker player OceanFreight tops analysts' estimates as profits hit $6.4m in its first-ever fourth-quarter report.
- Pemex suffers court loss
Mexico's supreme court order will have Petroleos Mexicanos (Pemex) offering cabotage charters to Mexican carriers.
- Halter scores PSV order
US shipyard will build two platform supply vessels for L&M Botruc Rental.
- 'Definitely disappointing'
Analyst ties lower-than- anticipated results at Nordic American Tanker Shipping to a weak spot rate environment in the fourth quarter.
- D'Amico net jumps
Milan-listed products tanker owner sees profits increase by 35% to $75.1m.
- Aframaxes drain earnings
Analyst reduces fourth-quarter estimates for Teekay and OSG on soft aframax rates, but improvements should come this quarter.
- Slimline tonic for Precious
Thai shipowner sees full-year profits soar following departure of 10 elderly ships during 2007.
- Nordic chief defends results
After profits miss expectations, Nordic American Tanker Shipping chief executive Herbjorn Hansson expresses optimism for 2008.
- Catalunya controlled
Fully-loaded Teekay LNG vessel which was drifting off Cape Cod now under tow to offshore location.
- Louis draws fresh fire
Owner of sunken Sea Diamond will have its assets impounded if it fails to raise the wreck and mop up pollution, Greece says.
- Japan detains 20
Two general cargoships held over oily water separator deficiencies in January.
- CSH orders six
China Shipping Group company splashes nearly $240m on 33,000-dwt bulkers.
- Pittas pays up
Nasdaq-listed Euroseas moves to bolster long-term stability after announcing sixth straight increase in quarterly dividend.
- Mercator hits high notes
Third quarter profits take-off at newly-listed shipowner with returns 494% up on last year.
- Norshukon tries again
Consortium re-tenders for companies to run ro-ro ferry service from Norway to Scotland.
- Nordic back in black
Herbjorn Hansson-led tanker player stamps out third quarter losses but fourth quarter profits are down on last year.
- NGV Tech to scoop three
Malaysian shipbuilder close to bagging $154.15m offshore order with dredging work set to open the floodgates for chemical tanker contracts.
- Riverdance gets tap treatment
Salvors begin "hot tapping" of fuel oil from Clipper ro-ro grounded off UK coast.
- Small victory for SembCorp
Singapore yard wins right to submit evidence to combat claim for forex losses by BNP Paribas.
- Japan pays for box ports
Bulgaria to build two terminals with Japan Bank for International Cooperation cash.
- LNG ship drifts off US
USCG cutter and tugs rush to secure fully-laden Teekay gas ship which lost propulsion and drifted off Cape Cod.
- FOP flops in fourth
Oslo-listed company slips into the red following unemployment of two of its five FPSO units at the close of the year.
- Jysk wants Russians
Danish steel trader applies to buy 80% holding in NWS and Volgaflot parent.
- Solid Golden year
Golden Ocean unearths a nugget of a year as high rates and tonne-miles send profit and sales soaring.
- Aloha and goodbye
NCL cuts ship from Hawaii fleet to balance the books despite promise of reduced competition in the region.
- MPC munches more HCI
German boxship fund makes takeover move for rival, envisioning combined fleet of 488 ships and assets of EUR 30bn.
- Bore fixes ro-ros
UK's Mann Lines to charter Finnish shipowner's German newbuildings for up to 10 years.
- Donbas plans new yard
Ukrainian group eyeing island site for companion facility to Poland's Gdansk Shipyard.
- Bosporus closed
Strong currents prevent eight tankers from transiting vital Istanbul strait on Tuesday.
- Neste considers shipping future
Finnish oil group could sell tanker fleet, but may opt to retain operational control.
- Eight cleared in QM2 disaster
Eight people charged with manslaughter over gangway collapse are cleared by French court.
- SCI bulker damaged in Oz
Handysize bulker sustains damage after mooring lines broke in Dalrymple Bay Coal Terminal.
- NOL 2007 profits up 44%
Cost controls plus growth in container volumes help to boost results at Singapore liner operator.
- HHI inks VLCCs
Hyundai Heavy Industries says it has secured fresh orders for very large crude carrier newbuildings.
- K Line joins CRS
Japanese shipowner joins Hapag Lloyd and Wan Hai service between China and the Middle East.
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| FEBRUARY 12, 2008 |
- NOL profit jumps after strong liner performance
- Evergreen still pondering mega-ships decision
- Marine Capital launches first U.K. shipping fund
- "K" Line joins China/Red Sea loop of Hapag-Lloyd, Wan Hai
- TACA holds bunker surcharge steady
- American Airlines adds expedited truck guarantee
- Cathay Pacific to resume Colombo flights
- ALTA names executive committee
- Pacer sees profit slip in 2007
- YRC to cut 1,100 workers, shutter 27 service centers
- Large trucks involved in fewer fatal accidents on U.S. roads in 2006
- Inland waterway interests honor Oberstar
- Trade seeks repeal of "first sale" proposal
- IPR protection report shows rise in investigations, convictions
- Some duties in India may be fixed, but don't expect wholesale changes
- CEVA expanding distribution center in Brazil
- India Competition Commission to focus on airlines, manufacturing sectors
- Newgistics purchase takes it beyond returns
- NRS opens cross-dock facility
- Expeditors records profit, revenue increases
- SoCal ports, terminal operators to file with FMC to discuss plans
- Two more carriers depart Los Angeles port for Long Beach
- Shipping executive Arthur Novacek dies
- Caribbean ports decry lack of grants
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| FEBRUARY 12, 2008 |
- Stena and Sonangol to start maritime academy in Angola
Swedish tanker owner/operator Stena Bulk will expand its co-operation with the Angolan state-owned oil company Sonangol and the Stena Group and Sonangol will together start a maritime academy in the town of Sumbe, some 270 kilometres south ...
- Acquittals in French walkway collapse case
A French court has acquitted eight persons accused of sharing responsibility for the accident in November 2003 on the Chantiers de l'Atlantique shipyard when a walkway to the cruise vessel Queen Mary 2 collapsed and 16 persons lost their lives ...
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| FEBRUARY 12, 2008 |
- Industry predicts lower fuel use
High prices driving efficiency, will lower emissions.
- NOL's Q4 profits up almost 300%
Asian container shipping giant enjoys strong 2007 result despite pressures from record fuel costs.
- Bunker fuel blamed for latest Algeciras pollution
Anger that wrecked bulker is still lying off Gibraltar, six months after it sank.
- Bunker removal underway on stranded ro-ro
MCA reports 'good progress' in salvage effort.
- BORCO sold to First Reserve
New owner sees 'substantial' potential to expand Freeport's bunkering business.
- IMO sulphur discussions welcomed as 'positive'
INTERTANKO spokesman says discussions have shifted from 'if' to 'when' in the search for less polluting bunker fuel.
- Rotterdam market increasing
- Japan: Retroactive bunker price climbs
Prices for 180 cst bunker fuel up some $14 pmt in January.
- Asian bunker markets firm
Weak buying as Asian bunker markets reopen after Lunar New Year holidays.
- Top 20 Singapore suppliers unveiled
BP takes top spot again as the biggest supplier by volume in 2007 in the world's largest bunkering port.
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