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| OCTOBER 15, 2008 |
Shipping News
- Heeding siren calls for CSR
IN Asia, where corporate social responsibility (CSR) programmes are often seen as costs rather than benefits, getting shipping companies to embrace the idea of sustainable practices is always going to be a challenge, even more so as the economic climate takes a turn for the worse.
- Dry bulk trade will maintain growth: ICAP
Amid the gloom in the rates outlook and a plunge in the Baltic Dry Index over the past six months, shipbroking firm ICAP Shipping forecasts that dry bulk trade growth will be sustained at current levels for the next six years.
- Mitsui, K-Line to cut US container service
Mitsui OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan's second- and third-largest container-ship operators, will reduce weekly container service to North America from Asia as demand for exports declines.
- Some shipping lines likely to become bankrupt: Faber
- Listen up, world - it's Asia calling
Strait Talk
- Reminder of shipping's importance to S'pore
FORMER British prime minister Harold Wilson famously said that a week was a long time in politics. Last week must have seemed a very long one for many people. It was not a good week to be a banker, or a share trader. Actually, it was not a good week for any of us as stock markets plummeted and the spectre of global recession returned. And for shipping, the signs are already ominous, but not necessarily disastrous.
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- Hutchison's Zhuhai box terminal receives new cranes
- Hamburg investors see route mergers, alliances for Hapag-Lloyd
- Maersk Line enhances South America-Mideast service
- China's customs demands advance cargo manifests January 1
- Container business to slide, reports Drewery's annual
- Shanghai and Guangdong to ban over-loaded containerships
- Inter-American Development Bank grants US$400 million loan to Panama Canal
- IMO, Round Table seek clear rules of engagement, extended piracy mandate
- Savannah boss says time's right to expand - meltdown or not
- Digital Ship convention in Singapore October 21-22
- Second Chennai CT to cost 20pc more than planned
- Cathay Pacific's September cargo volume falls 7.3pc
- No rebound expected in China air market until H2 2009
- Strong Dutch police, industry support for cargo crime fighters
- AMB acquires facilities in Beijing Airport Logistics Park
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- Cargo Marketing International completing 25 yrs of service efficiency
- Baltic Dry Index plummets by 11 pc
- 12,500-TEU leviathans to displace smaller boxships by 2012'Report
- 3 defence shipyards urged to speed up modernisation
- Pirates' hostages: Kandla Dock Union to take out peace march today
- SCI acquires 2 of the largest boxships ever bought under Indian flag
- Hapag Lloyd sold to Hamburg consortium
- Andy Tung takes over as COO of OOCL Group in New Year
- Fieo puts up Indian Pavilion at CANTON Fair in China
- China asked to open up market to farm produce
- Glitz & glamour mark 6th annual Seatrade awards extravaganza
- Worlds Window launches ICD-Wardha
- Keep cool, Chidambaram advises trade & industry
- Exports hit bull's eye
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- Maersk Line strengthens Samba service
- Abu Dhabi airport gets certification
- Quick Cargo Service now in Switzerland
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| OCTOBER 14, 2008 |
- UK union set for leadership tussle
- ITF claims Baltic "success"
- ABS and RS run joint training programme
- Skaugen's "satisfactory" Q3
- EMSA deploys oil recovery vessel
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- Damen design picked for Ferries Dubai
- International Shipholding retains Lazard
- Stratos and Fugro Chance test Iridium OpenPort in GoM
- Siemens awarded CODLAG frigate contract
- Dockwise gets $84 million Shtokman job
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- Banks woo owners with loan buybacks
BANKS try to boost their liquidity and financial ratios by offering shipowners chance to redeem loans at hefty dscounts.
- Owners call for banks' patience
- Lawyers seek to quash Le Ponant arrests
LAWYERS defending Le Ponant 'hijackers' apply to quash proceedings on grounds they were arrested illegally.
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- Russia looks at energy funding
RUSSIA'S vice premier for energy and resources, Igor Sechin, has met the heads of the country's oil and gas majors to discuss their refinancing problems
- Corsica Ferries buys most of Stradeblu
CORSICA Ferries has become majority shareholder of ro-ro operator Stradeblu
- Gdynia union leaders hopeful
TRADE UNION leaders at the Gdynia shipyard said on Monday that they were relieved and optimistic about the future of their members' jobs after meeting with prime minister Donald Tusk to discuss privatisation plans for the concern
- Credit to fund Polish terminal
POLISH GAS transmission operator Gaz-System has plans to put up 20-30% of the building costs of an LNG terminal on the Baltic Sea coast from its own funds, with the rest coming from bank credit, according to Polish business daily Puls Biznesu
- Cut capacity now, box owners warned
CONTAINER shipowners to lay up tonnage and cancel orders or face the worst load factors in ten years, warns Charles de Trenck, analyst and founding partner of Transport Trackers
- Borrowing banks fear lending fall
MOST banks involved in shipping are still able to borrow, according to Roderick Wong, a financial analyst with Marine Money Asia
- Angel Island suffers wildfire damage
HALF OF Angel Island, the biggest in San Francisco Bay and a significant landmark for seafarers, was badly damaged by wildfire and remains closed to the public
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- Panama Canal signs for $2.3B financing package
- Tougher credit terms likely for maritime operations
- 'Common sense' will govern enforcement of Lacey Act
- Seaway strike averted
- Coast Guard releases TWIC guidelines for rail workers
- 10,000-TEU ship for Cosco
- Record for China surplus
- Maersk trims Mideast fees
- Connie awards for Tilden of Ports America, Inttra's Bloom
- Cosco wins Piraeus deal
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| OCTOBER 14, 2008 |
- Consortium concern
- SAILS to the edge
- APL box ship fire probe
- DB postpones IPO
- IMO adopts MARPOL Annex VI amendments
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| OCTOBER 14, 2008 |
- Stocks diverge
US shipping and offshore stocks close mixed but mostly higher even as the Dow slips.
- Thrice for Sveaas
Norwegian investor shells out $2.71m more for Trico Marine Services stock.
- Sails loses wind
Troubled Lonrho controlled container line hits the rocks after losing battle with rising costs.
- Mexicans get cash
Blue Marine Shipping scores $125m in financing from New York firm for products tankers chartered to Pemex.
- Santos surges
Earnings preview by Brazilian container port operator shows growing Ebidta as recent acquisitions kick in.
- Hercules weakens
Hurricane activity in the Gulf of Mexico chops $8.7m from revenue at Hercules Offshore.
- Dry silver lining?
Norden CEO Carsten Mortensen thinks Danish bulker owner can exploit opportunities in market turmoil.
- Still on the table
A bid by Philip Shapiro-led Liberty Shipping to buy fellow US owner is still alive as ISC hires financial and legal advisors.
- Wilmar spreads
Singaporean vegoil trader's shipowning entity takes 60% stake in compatriot shipmanager.
- Troops free ship
Somali security forces loyal to Puntland government reportedly release Syrian ship seized last week.
- Dubai trial
Emirates' transport authority to test new ferries ahead of run to Sharjah next year.
- Remoy cashes PSV
Norway's Rem Offshore rakes in $13m profit after offloading the Rem Server.
- ISC net to soar
Rail ferries and car carriers push International Shipholding Corp to more than quadruple third-quarter earnings.
- "Extremely high"
German logistics billionaire admits he and partners put everything into bid for Hapag-Lloyd to ward off NOL.
- NCSP thriving
Volumes up across the board at London-listed Russian Black Sea port, as new grain terminal reaches capacity.
- Men overboard
One dead and two feared drowned after going missing from MOL-owned tanker off Canada.
- Going solo
South Korean steelmaker Posco said it will press ahead with Daewoo bid, despite GS Group withdrawal.
- Iraq link broken
Ferry service from Dubai closed due to construction work being carried out at Port Rashid.
- SCI eyes VLCCs
Tender goes out for four big tankers as Indian state owner seeks to build orderbook again.
- Maersk closing in
Danish giant now has more than 65% of Swedish tanker player Brostrom as it aims to make compulsory offer.
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| OCTOBER 14, 2008 |
- A.P. Moller plan to buy tanker company progresses
- International Shipholding says cars lift earnings
- Marshall Islands registry sees membership boost from Japan, Korea
- Joint training for Arctic LNG carrier surveyors
- Sea Star lowering bunker surcharge
- Grand Power Express expands air freight capacity
- J.B. Hunt earnings lifted by intermodal
- FedEx improving Canada-U.S. service
- Economic woes drives talk at Singapore supply chain conference
- CEVA starts air-sea service between U.S. and Australia
- Krugman wins economics Nobel Prize trade theories
- Produce trade group launches supply chain education initiative
- INTTRA partners with Argentinean logistics software firm
- Singapore port volume climbs 10% through three quarters
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| OCTOBER 14, 2008 |
- Fjord Line in open conflict with port management
Recently Fjord Line decided to continue to sail between Kristiansand, Norway, and Denmark during the summer season. The company also decided that, due to rough winter weather conditions and lower customer demand, it is not feasible to sail on the ...
- Pirate killed in gun battle
Armed security forces from northern Somalia killed a pirate during a shoot-out aboard a hijacked Panama-flagged vessel, a local government official said to Reuters. "We killed one pirate and wounded two others. We also captured their two speed ...
- Ship crew detained
The police on Gibraltar have detained three officers from the bulk carrier Fedra, which went aground off Europa Point, Gibraltar, on 10 October after its main engine broke down in stormy weather. The men are suspected of having acted in ...
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| OCTOBER 14, 2008 |
- Bunker spill concerns off Norway
Grounded bulker refloated after running aground near 'rsund'ya.
- Global bunker market report
- Major bunker terminal planned for Yemen
Aden Free Zone signs memorandum of understanding to build fuel storage and bunkering facility.
- IMO scrubber decision will 'cut costs' for decades
Scrubber manufacturer says a 'wholesale switch to low sulphur distillates would be disastrous'
- ARA - some suppliers fully booked till 17 October
- Singapore bunkers up for first time in two weeks
Prices were up on Tuesday following gains in crude oil prices.
- Dutch official to study sulphur testing issue
No attempt to reverse MEPC decision on MARPOL Annex VI sulphur verification procedure.
- WFS board approves $50 million share buyback
The company plans to begin repurchasing early November.
- Petrobras Singapore says low-sulphur demand 'stable'
LSFO premiums expected to rise as sulphur content is driven down.
- Oil swaps market helps manage bunker price volatility
Credit concerns drive growing acceptance of the need for clearing, says official at Singapore Exchange's AsiaClear.
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