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| MAY 13, 2008 |
Shipping News
- Ship order cancellations propel freight cost surge
The biggest shipbuilding boom in history collided with the largest credit-market losses ever, undermining forecasts for a plunge in freight rates.
- FSL Trust in US$210m sale-and-leaseback deal
First Ship Lease Trust trustee-manager FSL Trust Management has struck a conditional agreement to acquire three container vessels from Yang Ming Marine Transport Corporation for US$210 million.
- MISC's Q4 profit rises 10%
Malaysian liquefied natural gas carrier MISC Bhd reported a 10 per cent jump in fourth-quarter net profit yesterday, boosted by its heavy-engineering unit and offshore businesses.
- Myanmar's major ports closed due to severe damage
- MPA help for bunker supplier certification
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| MAY 12, 2008 |
- Le Havre, Duisburg ports to step up cooperation, cargo exchange
- Guangzhou bonded logistics park starts construction
- US Coast Guard, EPA propose alternative ballast rule
- Jiangsu Dafeng port inaugurates container service to Busan
- Clean fuel will double cost of shipping, says WSC
- Abu Dhabi's box volumes grow 34pc in 2007
- CMA CGM offers new maritime training course in Marseilles
- 'Misleading' aviation pollution study withdrawn from publication
- Box shortage forces US exporters to turn to airfreight
- UK freight association rejects proposed airfreight tax
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| MAY 13, 2008 |
- Evergreen Line to continue with Asia-Mexico-Panama service after Cosco exits
- IRIS Lines stops pendulum, joins CSCL's AMX1 service
- ...named best intra-Asia shipping line
- PTP & MISC to form JV at Malaysian port
- Montreal port's plan to tap into global box boom
- Topaz acquires DMS fleet
- 3 major conferences hike BAF & CAF
- Damco named best logistics provider in sea freight
- CMA CGM wing acquires 3 barges
- Samudera posts 46 pc net profit growth in Q1
- Bridge height to limit size of ships calling at Hong Kong
- Evergreen Line profit rises by 4.9 pc
- Lack of dredging menacing world trade, warns expert
- DGS anchors 25-yr-old ships from plying in rough seas
- Great Offshore moves closer to deal on acquiring SeaDragon
- India & US seek success at Doha
- IACC & WTC to co-host Indo-US summit for SMEs
- Coir export volumes rise, value dips
- US to challenge WTO ruling on shrimp anti-dumping duty
- Freeze on pig iron exports by PSUs
- US keen to limit export bans at WTO levelIndia & US seek success at Doha
- KPT's Bunder Area proves adept at handling ODC cargo
- CoPT asks MoS to push ICTT rail link
- No port curbs for Myanmar arecanut
- Rising freight rates take tang off salt exports
- FDI inflow of $ 25 billion in 2007-08
- Appreciating dollar value lifts beleaguered exporters' spirit
- India to be eighth wealthiest by 2017, predicts Barclays' study
- BoA to discuss 13 SEZ proposals on May 16
- Customs duty under EPCG scheme cut by 2 pc
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| MAY 12, 2008 |
- Joe Hughes defends IG
- Volume growth for Stena Line's British business
- Marshall Islands accedes to five major IMO Conventions
- Lloyd's List stirs safety and light dues debate
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| MAY 12, 2008 |
- U.S. Shipping Partners reports first quarter loss
- Fatality in liftboat incident off Delaware
- Nordic American Tanker commences public offering
- Austal Tasmania to build police boats
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| MAY 12, 2008 |
- Oregon governor receives report on need for LNG facility in state
- Bureau of Reclamation taps firms for fish projects
- Marcon acts as broker in sale of Crowey tug
- Schnitzer's auto parts lines earn honor for recycling efforts
- Genco buying three vessels from Bocimar International
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| MAY 12, 2008 |
- Indian owners in surveys revolt
SHIPOWNERS take exception to government's move to withdraw rights of six classification societies.
- Indian ship registry gets monopoly on statutory surveys
- MISC warns of tough year ahead
LNG carrier owner had 15% fall in full-year profit and says higher costs and weaker tanker markets loom.
- Box lines call for more flexible consortia rules
ELAA urges end to specific time limits on consortia agreements and 'room for manoeuvre'.
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| MAY 12, 2008 |
- Activist fund targets Top
Hedge fund QVT Financial has levelled conflict-of-interest accusations against the board of Top Ships.
- Markets react to striking farmers
AS THE farmers' strike in Argentina resumes, shipping markets are starting to experience renewed impacts including both positive tonne-mile effects and negative triangulation issues
- Bulker buys bolster Genco fleet
GENCO Shipping & Trading has confirmed the purchase of three 2007-built bulkers from Bocimar International and Delphis for $257M
- Putin bullish on Russian oil
THE NEW Russian prime minister Vladimir Putin has triggered a stock market upward charge on talk of reducing taxes for the country's gas and oil producers
- Bunker suppliers get cash aid
SINGAPORE is offering financial assistance to all bunker suppliers in a bid to ensure their compliance with the SS 524:2006 rule
- Operator makes cabotage comeback
BRAZILIAN port terminal operator Grupo Libra could make a surprise return to the cabotage and coastal trades.
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| MAY 12, 2008 |
- Harbor commission set to consider Port of Los Angeles clean-trucks plan
Commssion this week to take up the port's long-awaited clean-trucks plan and requirement for employee drivers.
- Global credit crunch threatens new vessel orders
- Horizon hikes fuel fee
- TACA fuel fee unchanged
- FedEx cuts outlook
- Bush declares Transportation Week
- China trade gap slows
- LAN plans cargo airline
- Domestic airfreight declines
- India throughput up
- Borders secure, Customs turns to trade strategy
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| MAY 12, 2008 |
- Progress for Eurogate's Jade-Weser-Port plans
- Brazil customs strike ends... for now
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| MAY 12, 2008 |
- Ultrapetrol profits surge
US-listed South American owner sees big revenue and profits gains amid strong demand.
- NAT goes to market
Herbjorn Hansson-led Nordic American Tanker Shipping offers 4.6 million shares in issue worth $184m.
- Shipping bulls lead Monday rally
Mostly bulker owners head upward in a positive day on Wall Street.
- Buys boost Peter G outfits
Cantor Fitzgerald analyst hikes estimates for Peter Georgiopoulos' General Maritime and Genco after recent vessel purchases.
- FMR ups Ultrapetrol shares
US investment advisor lifts holding in South American owner to more than 10%.
- Top board under attack
Disgruntled shareholders demand substantial change following "history of poor operating results" and dealings which were 'destructive to shareholder value.'
- Fund's Horizon stake swells
Boston fund manager has accumulated a major minority chunk of the New York-listed containership owner's shares.
- Nikolaos P in Pakistan pickle
Euroseas-operated bulker held in Karachi as charterer Reliance cries foul over fertiliser.
- MSC duo on Aussie list
Two of Switzerland-based owner's boxships among 19 vessels detained during April.
- Gearbulk thwarted
Shipowner fails to persuade London high court it is entitled to $120m damages over cancelled ships.
- Ship sharing?
Teekay insurance chief Dev Hildebrand mulls merits of radical shake up of P&I cover.
- Horizon hikes surcharge
US containership owner bumps fuel surcharge for Hawaii and Guam by 1.5 percentage points.
- A fridge too far?
'Empty' fridges push Filipino crew over the edge while Russians and manager point to adequate food supplies.
- Genco confirms Bocimar buys
Georgiopoulos- controlled owner will pay Belgian rival $257m for two panamax bulkers and a supramax.
- Five crew missing in China
Cargoship reportedly sinks while loading stones in Leqing Bay, but six seafarers rescued.
- Clausius takes three
First Ship Lease picks up trio of Yang Ming newbuildings in $410m sale-and-leaseback move.
- India bans veterans
Chartered ships older than 25 years will not be welcome in coastal trades during monsoon season.
- IRISL launches Cuba run
Iranian owner emerges as force behind new link to Caribbean and South America.
- Arpeni wants quartet
Indonesian tanker and bulker player lining up four ship deals this year at cost of $180m.
- Miclyn eyes home listing
Offshore owner and shipbuilder looking to raise $200m from Singapore float in the second half of 2008.
- Li's bid gets dosed up
Greek pharmaceutical giant part of Hong Kong billionaire's three-pronged offer for boxship activities at Piraeus.
- Malta Shipyards under scrutiny
Government to verify Dutch conversion contracts that have left struggling yard "at a disadvantage."
- Worker dead in Tuzla blast
Five more injured after explosion in engine room of vessel being built at Selah shipyard in Turkey.
- Ananda adds four more
Bangladeshi shipbuilder to deliver multipurpose vessels to Lohmann of Germany in 2011 and 2012.
- Azuma edges up
Japanese bulker owner posts better annual profit but predicts leaner year ahead.
- Great Offshore to buy SeaDragon
Indian owner close to $1.4bn entry into rig ownership with takeover of Cayman Islands-based player.
- Cosco inks monsters
Chinese shipping giant puts pen to paper on series of 13,500-teu boxships and VLOCs at NACKS.
- Inui up but downbeat
Annual profit soars at Japanese handysize specialist but prospects no so hot for coming year.
- Dry costs dear
Containership loss set to be second biggest P&I claim after the Exxon Valdez, warns Paul Hinton.
- Maersk cuts down on Brazil
Liner giant is paring back its coverage of the Latin American market due to poor vessel utilisation.
- Cautionary tale
It pays to choose your underwriter carefully warns McDermott's Timothy Woodard.
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| MAY 12, 2008 |
- EC closes parcel tanker investigation
- COSCO to stay in Asia/Mexico/Panama trade with independent string
- Iranian carrier to start service to Cuba, Venezuela
- FedEx lowers 4th quarter earnings guidance
- Trucking industry offers fuel saving strategy
- U.S. reduces trade gap on lower imports
- Industry lobbies Congress for $1.2 billion supplemental for food aid
- Russia opens borders to U.S. livestock
- Wincanton joins hunt for TDG
- Tajani to become Europe's Transport Commissioner
- Long Beach terminal operators switching RTGs to power system
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| MAY 12, 2008 |
- New terminal in the Port of Muuga
The board of Port of Tallinna (AS Tallinna Sadam) has now approved the construction of a new terminal area including 400 metres of quayside in the Port of Muuga. The terminal will have a capacity of 500,000 TEU. The price ...
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| MAY 12, 2008 |
- Tesoro posts first quarter loss
Refiner and marketer seeing revenue gain but failing to post profit result.
- Bunker market report from Praxis
- Scottish fishermen warn on fuel cost implications
Say quotas could be lost to foreign fishing fleets as high fuel costs prevents Scottish ships from putting to sea.
- Marshall Islands accedes to five major IMO Conventions
- Clouds gather as bunker prices soar
Growing concern that bunker price pressure will contribute to cyclical downturn for shipping.
- New tanker coating to cut fuel consumption
Nippon Paint's latest product expected to reduce fuel consumption by 4%.
- Singapore suppliers to get help with certification costs
- Singapore 380cst may reach $700 pmt by year-end
Prices up 68% from a year ago.
- Bunker buyers need to 'deal with risk exposure'
O.W. Bunker says some ship operators are taking 'unnecessary risks'.
- Newbuilding design exceeds IMO requirements
Design of new panamax tanker for Marinvest focuses on 'care for the environment'.
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