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| MAY 15, 2008 |
Shipping News
- Industry demand exceeds supply: Ultrapetrol CEO
As oil nudges US$127 a barrel and creates huge potential for deep-sea drilling, overloaded shipyards cannot keep pace with demand for ships that service platforms, the top executive at Ultrapetrol (Bahamas) Ltd said on Tuesday.
- S'pore firms sweep Seatrade Asia Awards
SINGAPORE-BASED maritime companies and organisations swept 10 of 19 inaugural Seatrade Asia Awards on Tuesday night.
- Global Marine to raise 282.8b won for bulk carriers
Global Marine Finance Co, set up by shipbuilder Hanjin Heavy Industries & Construction Co and South Korean banks, received government approval to raise 282.8 billion won (S$372.9 million) this month to build six bulk carriers.
- Russian shipbuilding needs boost: Putin
- Mitsui to beat profit forecast on higher rates
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| MAY 15, 2008 |
- Hutchison, Cosco bid to operate Greek Port of Piraeus
- WSC finds US Customs demand for '10+2' stowage plan hard to swallow
- Shanghai to build 10 expressways linking Yangtze valley cities
- Singapore's Sagawa signs international agency deal with AFL Dachser in India
- Limited box space in US prompts call to book ahead
- American airfreight plunges in March, reports Air Transport Association
- Xiamen airport seeks tie up with Taiwanese carriers
- Biggest Mideast carrier deploys Lufthansa maintenance IT system
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| MAY 14, 2008 |
- Ewald Kaiser to be CEO of M&M Group
- APL to enhance Vietnam service
- BAWC begins summer schedule
- SNCF seeks to buy foreign cargo railways
- Holland awaits 600 new barges
- Hipage Company acquires W.M. Stone & Company
- USA: ATA calls for 65-mph speed limit
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| MAY 14, 2008 |
- TT Club concern at misdeclared box weights
- NOL revenue, EBIT soars
- Sales boost Havila's Q1
- Q1 "kick start" for Ocean HeavyLift
- Freight rates boost Eitzen Chemical
- Weak VLGC market hits BW Gas
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| MAY 14, 2008 |
- BC Ferries' latest visits London
- DryShips makes offer for rest of Ocean Rig
- MOL on ore carrier newbuilding spree
- ASA and OMSA forge a link
- GAO eyes Navy voyage repair options in Guam region
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| MAY 14, 2008 |
- Port of Everett opens new Mount Baker Terminal
- Mitsui to build 53 new iron ore carriers
- Scholarship renamed to honor past CII President, Richard Simpson
- Port of Seattle CEO inks rail corridor agreement
- APL expanding service calling Vietnam/Taiwan/Singapore
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| MAY 14, 2008 |
- Tanker owners rake in record profits
OWNERS trading in the spot market are forecast to reap their highest-ever earnings in 2008.
- Hanjin steps into tanker trades with VLCC orders
- Dry bulk market in 'riot mode'
FREIGHT rates climb to record highs as demand for all major bulk commodities hit frenzy.
- UK to beef up transport security laws
CARRYING WMDs on ships will become specific offence while Navy is to get new powers to tackle piracy.
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| MAY 14, 2008 |
- US Shipping shares nose-dive
SHARES of Jones Act operator US Shipping Partners (USS) have plummeted over 40% in the wake of new revelations of financial weakness
- Wingsails 'could save 5%'
AEROFOIL 'wingsails' could save more than 5% of fuel, according to results announced today following an initial investigation on behalf of an Anglo/Norwegian consortium
- Russia/Korea yard deal is for gas
THE memorandum of understanding between the Daewoo in South Korea and the Russian state shipyard holding United Industrial Corp (OPK) (See Fairplay 24, 9 May) is intended to provide the latest gas-carrier technology for Severnaya Verf (Northern Shipyard)
- High bunkers put Eitzen in the red
A SHARP rise in bunker costs combined with an unrealised foreign exchange loss offset the positive effect of higher freight rates and better fleet utilisation at Eitzen Chemical, the listed Norwegian chemical carrier operator.
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| MAY 14, 2008 |
- Legislation could put a hold on changes to Customs "first sale" import valuation
Legislation would require Customs and Border Protection to consult with trade and congressional panels before it re-interprets import valuation method.
- TSA expects 1 million TWIC sign-ups in fiscal '08
- "Modest" growth for Southern California ports: Study
- NOL profit up 183 percent
- Hanjin falls to Q1 loss
- Hsu joins Seaspan board
- EU to lift U.S. poultry ban
- WTO says China more restrictive on its exports
- New Ports America COO
- March freight index off
- U.S. hits DHL earnings
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| MAY 14, 2008 |
- US box shortage threatens workforce cut backs
- Greek port tenders coming to the boil
- ICTSI records profit in Q1 2008
- RAM takes control of over one million TEU
- ELAA asks for significant changes to Consortia regulations
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| MAY 14, 2008 |
- Paragon triples up
US-listed bulker owner posts a 171% profit increase as revenue grows threefold.
- More on FreeSeas' shelf
Ion bulker owner files an amended shelf registration to gradually issue up to $100m more in shares.
- CCNI cuts Costa Rica
Chilean boxship operator eliminates direct port calls in Puerto Limon over increasing draft restrictions at the port.
- US Shipping plunging
US-flag owner's stock posts big declines for a second day after the company says it could breach covenants.
- Diana flexes profits
US-listed bulker owner pumps up earnings by 148% in the 'strongest quarter ever'.
- Teekay Tankers divvies more
New York-listed Teekay Corp offshoot hikes its dividend from $0.115 per share to $0.70.
- Double Hull profits edge up
US-listed posts a 5.8% gain in first-quarter profits as VLCC rates took a big boost.
- Snohvit shuts down
StatoilHydro starts the shutdown of its Barents Sea LNG export facility.
- Farstad falls short
Weak North Sea spot market and no sales gains stunt first quarter profits at Norwegian offshore owner.
- Havila helped by vessel sales
Double sale-and-leaseback move boosts first quarter returns at Oslo-listed offshore owner.
- DVB stays optimistic
German shipping lender upbeat for 2008 after good first quarter for transport business.
- Sincere on the slide
Weaker start for Taiwanese bulker and tanker owner in first three months as profit and revenue fall.
- Mercator toasts dry success
Indian owner's bulkers boost first quarter profit, while daily tanker rates fall away.
- Deep Sea slips
Seasonally slow North Sea spot market hits owner's bottom line, but earnings from other regions are on the up.
- NOL notches more
Singapore container line grows profits, revenues and volumes in first quarter.
- Colorado to start building
Philippines shiprepairer eyes small cargoship market through new PHP 1bn shipyard in Cebu.
- Economou firms up Ocean Rig bid
DryShips unit offers NOK 45.00 per share for complete control of Oslo-listed offshore player.
- Spot the difference at Globus
Greek bulker owner Globus Maritime posts much improved first-quarter profit as spot market soars.
- Uljanik turns it around
Croatian shipbuilder puts last year's loss behind it in first quarter as revenue jumps.
- IHI back in black
Land sell-off helps struggling Japanese yard group to annual profit.
- Eitzen Chem slumps to loss
Unrealised currency loss and soaring expenses erode higher revenues in first quarter at Norwegian owner.
- Kyoei banks bigger bundle
Japanese tanker and bulker owner posts big annual profit jump, but issues gloomy forecast for current year.
- OHL on the rise
Oslo-listed heavy-lift player sees profit jump in first quarter, with two new ships set to boost annual result.
- Chemoil's profits collapse
Major derivatives loss due to steep increase in oil price cuts first quarter profits at bunker player.
- BW runs out of gas
Oslo-listed shipowner posts heavy losses in first quarter as earnings from its LPG fleet plunge
- Asimar hit by competition
Thai shipyard group sees first quarter profits all but disappear on the back of tough repair market.
- Euronav books big gain
Belgian tanker owner takes $44.5m profit from sale of aframax pair to General Maritime.
- RCL hit by low dollar
Thai intra-Asian liner operator sees first profits drop nearly 18% due to weaker US currency.
- Toei raises targets
Japanese reefer owner has revised its sales, operating and profit forecasts for the full year upwards.
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| MAY 14, 2008 |
- NOL's 1st quarter profits soar
- TT Club: MSC Napoli report a warning on cargo misdeclaration
- Diana reports "strongest quarter ever"
- COSCO takes options on four 4,250-TEU boxships
- Coast Guard outlines new seafarer identification rules
- Delta's Anderson embraces cargo
- Deutsche Post's 1st quarter "on target" despite 18.4% net income drop
- Cathay, Dragonair cargo up 8.5% in April
- Continental CFO to retire
- UPS boosting alternative fuel fleet
- SEKO expands Dubai operations
- Cott Corp. enters iGPS plastic pallet pool
- Gelsomino succeeds Wolney at Avalon Risk
- Panalpina invests in SAP systems
- ICTSI first quarter profits up 29%
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| MAY 14, 2008 |
- MOL to add 53 ore carriers to its fleet
MOL (Mitsui O.S.K Lines) will take delivery of 53 ore carriers between now and to early 2014 to meet rising demand for iron ore transport due to a increased steel production. The deliveries consists of four 300,000 DWT vessels, two ...
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| MAY 14, 2008 |
- Bunker market report from Praxis
- Oil slips after US inventory report
Middle East producers having trouble selling heavy sour crude.
- Rotterdam barge market very quiet
- Twin honours for MPA at Seatrade Asia Awards
Technology for recycling waste from port and marine activities wins environmental award.
- O.W. Bunker strengthens Asian office
Team grows with appointment of branch manager at O.W. Bunker Korea.
- US exporters 'will have to pay more'
Soaring bunker prices contribute to exporters' woes.
- BW Gas reports lower operating profit
Company posts weaker earnings as freight rates fall and bunker costs soar.
- Hanjin Shipping posts first quarter loss
The company plans to apply floating bunker charge to minimize losses.
- Reefer operator posts pre-tax loss
Green Reefers says high bunker prices could lead to higher scrapping rates.
- Demand for 380cst in Hong Kong 'weakening'
Reports say more ship operators are turning to mainland suppliers.
- US carrier ups fuel surcharge
Cites 'unprecedented levels' of bunker costs.
- Chemoil profits drop almost 90% year-on-year
CEO says January drop in bunker prices 'squeezed our margins'.
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