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| MARCH 17, 2008 |
Shipping News
- Cruise operators upbeat despite stormy economy
The global cruise industry is putting on a brave face as it sails into seas darkened by a faltering US economy, a weak dollar and record oil prices, major cruise ship operators said at their annual convention.
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| MARCH 17, 2008 |
- MSC to start Yantian- LA weekly Condor Express with Maersk slot charter
- US retailers urge Port of Oakland to reject container tax proposal
- Yunnan inaugurates national level export processing zone
- Sinotrans profit up 18pc, but container business revenue off 9pc
- Kuehne + Nagel posts 2007 profit rise of 15pc to US$515 million
- Panalpina profit rises 15pc on higher freight volumes in 2007
- Cathay Pacific group reaps 72pc increase in profit in 2007
- Lucky Air to launch Hefei-Kunming service
- Hactl deploys IBM solution to upgrade data storage infrastructure
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| MARCH 17, 2008 |
- Baalu lists measures taken to encourage tonnage acquisition
- Parekh Marine Agencies is new member in India of Multiport
- AP inks MoU for port-based industrial corridor with RAK & Matrix
- LCL Group's modern Logix Park CFS near Port Pipavav inaugurated
- Rites signs MoU with Namibia to upgrade rly infrastructure
- Rlys may soon lay tracks to smaller ports
- FDI for petroleum, natural gas sectors rationalised
- Elangovan spells out handloom export scheme in Lok Sabha
- Budget stimuli to industrial growth may be tempered by inflationary fire-EAC Chairman
- CMIE projects 10.4 pc industrial growth in 2008-09
- W. Bengal receives 21 applications for IT SEZs
- Lift rice export curbs, SIREA urges govt
- Ajay Singh joins CBDT
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| MARCH 14, 2008 |
- NYK Logistics restructures European business
- Maersk announces annual results
- Reminder! Air waybills changing on Monday 17 March
- Agility expanding in Poland
- USA: senators question DOT on Mexican trucks programme
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| MARCH 14, 2008 |
- EPA sets new marine diesel emissions standards
- Wärtsilä unit to design Euro icebreaker
- ASA Board appoints new members
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| MARCH 14, 2008 |
- Workers begin expansion of arrivals roadway at PDX
- US rail freight traffic reports positive week
- International Maritime Organization sets deadline for bravery nominations
- Vancouver Fraser Port Authority announces board of directors
- US/Croatia agree to new open skies deal
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| MARCH 14, 2008 |
- CMA CGM sets the pace with 58% income rise
FRENCH liner giant shows its heels to market leader Maersk by posting profit of $966m.
- CMA CGM unveils fuel plan
- Shipping given emissions 'wake up' call
INDUSTRY told to act on emissions before ships are denied entry into European ports.
- CIMC eyes stake in Yantai Raffles
WORLD'S biggest box maker plans to splash out up to $565.5m to acquire a 29.9% stake in Chinese yard.
- Bring on the roller coaster
AMSTERDAM-based shipowner Antonio Zacchello says that 2008 is going to be a turbulent year, but a good one.
- Taxing the talent away
WHAT a mess the UK Chancellor of the Exchequer has got himself into over the issue of 'non-doms'.
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| MARCH 14, 2008 |
- Overcooked Capesize rates crash
Dry bulk freight-rates for Capesize vessels have plummeted over the last two days following a period of heady highs for owners
- Vietnam aims for fourth largest shipbuilder slot by 2015
VIETNAM'S ambition to move up a further slot in the world shipbuolders table has been declared, according to a report in VietnamNet Bridge
- Torm aims to double fleet
TORM plans to double its 128-vessel fleet
- Dover sailings resume
THE SeaFrance ferry dispute at Dover has ended with a pay rise and improved working conditions for officers who have been out since the end of February. Sailings are expected to resume tomorrow
- UK non-domicile fight goes on
DESPITE pressure from the UK business community to abort the plan to charge wealthy non-domicile residents of the UK an annual '30,000 fee, Chancellor Alistair Darling has vowed to continue
- It's all change at Aker Yards
- Genesis numbers revelation
- Third drydock for Bahamas
- Essar ready to buy big
- Lauritzen triples profits
- Veteran CEO edged out at Samho
- JFE wins Universal control
- US wants free trade with Malaysia
- Sinotrans net rises 18%
- Cruise passengers, crew rescued
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| MARCH 14, 2008 |
- Sale of Hapag-Lloyd? TUI mulls options
German line emerges as possible takeover target amid reports parent TUI will decide as early as next week to spin off ocean carrier.
- Group calls for feds to bail out Highway Trust Fund
- Assistance bill, Colombia trade pact a pair: Pelosi
- MSC opens new LA service
- Russia steel deal opens door to U.S. oil and gas
- NYK unveils Cool Earth project
- India's growth rate to drop
- CMA CGM net up 58%
- Lytle new No. 2 at Port of Long Beach
- ICC says IMO must set new anti-pollution standards
- Mitsui buys into Turkish port auto business
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| MARCH 14, 2008 |
- Stowaways cost the industry USD20 million a year: can incidents be reduced?
This week a conference in China, hosted by Japanese ocean carrier NYK and the UK P&I Club, debated the problem of stowaway incidents which have risen in cost by 100% in the past 10 years. Currently, they are estimated to be costing the industry more than USD20 million a year.
- Rotterdam's ECT promoting night time trucking
- Evergreen upgrades ADR link
- Full speed ahead for CMA CGM as its income surges by 58%
- Piraeus extends tender deadline to May 9
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| MARCH 14, 2008 |
- Ultrapetrol optimistic
Felipe Menendez offers a positive look at 2008 after fourth-quarter results send shares on a plunge.
- Economou sells another
Brokers say Greece's Cardiff Marine has sold off a 19-year-old capesize for $83m.
- DNV revenue jumps
Revenue jumps at Det Norske Veritas on strong demand, but taxes scale profits back by 1.8%.
- Komrowski sells duo
Undisclosed interests have paid about $68m for a pair of the Hamburg owner's panamax bulkers.
- Failed system sank Queen
Canada's Transportation Safety Board says a fourth officer was distracted when he missed a course change that led to the sinking of the Queen of the North.
- Wilson Sons in PSV deal
Brazilian terminal, offshore vessel and shipyard group will fetch $100m to build four platform supply vessels.
- Star Bulk takes supramax
US-listed bulker owner will shell out $72m for Norden's Nord Wave.
- Ultrapetrol takes a beating
Felipe Menendez-led company loses nearly a quarter of its market value after fourth quarter results missed market expectations.
- Double detention in Hong Kong
Ammships tanker and small general cargoship the only names on February list of shame.
- Sinotrans on the prowl
Chinese bulker owner looks for smaller rival to buy, plus second-hand tonnage.
- Mortensen flags orders
Norden chief says sale of two bulker units is just a drop in the pond compared with unprecedented orderbook.
- One in, one out for George
George Economou-led DryShips takes panamax from Norden for $72m and lets another go for $7m less.
- Norden confirms bulker sales
Danish owner set for $75m windfall from sale of supramax and panamax with DryShips one buyer.
- Chemical Fredriksen
SFI enters new sector after splashing $60m on a brace of newbuildings.
- Fredriksen's flexible friend?
TUI boss Michael Frenzel now considering the Hapag-Lloyd sale or spin-off urged by tanker tycoon and other shareholders.
- Norden sale saves Torm
Danish owner posts massive profit increase after selling stake in compatriot and snapping up half of OMI.
- Founder says farewell
Vita chairman steps down less than 24-hours after shareholders rejected a take-over bid from Chong Thim Pheng.
- Perisai bags tug
Malaysian owner buys offshore vessel from Singapore's Britoil in $11m deal.
- Tale of two halves for Torm
Danish giant's product tanker ships have varying success east and west while bulk market remains volatile.
- Pamplona leaves Trinidad
German ship at centre of drugs-smuggling case sails but master still facing charges.
- Ultrapetrol runs out of gas
Rise in offshore earnings can't lift full-year figures at Felipe Menendez-led US-listed owner.
- Greek ship grounds, 300 saved
Passengers and crew hauled off cruise vessel after it struck a reef near the Greek island of Poros.
- Evergreen beefs up ADR
First of Taiwanese owner's four bigger 5,400-teu ships enters service between Adriatic and Far East.
- BLT expects Chembulk boost
Indonesian tanker owner forecasting big increase in profit this year thanks to acquisition of US rival.
- GO in a hurry
Greek bulker owner takes seven months to beat last year's annual profit as it realigns financial reporting period.
- Piraeus stretches deadline
Bidders for Greek port's container operations reportedly have until 9 May to lodge offers.
- Workers poisoned at Tuzla
Another accident hospitalises workers at controversial Istanbul yard complex, following spate of fatal incidents.
- Hyundai wants more
Despite rising costs and concerns over the global credit crunch Korean yard expects more orders.
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| MARCH 14, 2008 |
- CMA CGM profit up 58%
- Maersk Line results: Progress, but still unsatisfactory
- APL, Scan-Shipping splitting up
- Evergreen upgrades Far East/Adriatic service
- U.S. ship hit by explosion in Istanbul shipyard
- Matson's North ends long maritime career, Angoco to head Pacific
- Horizon Lines appoints new head of Guam operations
- CORRECTION: A.P. Moller - Maersk profit up 15%
- U.S, Croatia sign open skies pact
- Guttierez: Exports buoyed U.S. economy
- President Bush stumps for U.S.-Colombia FTA approval
- Singapore man pleads guilty to export control violations to India
- CEVA Brazil expands Eaton contract
- ILWU contract talks to start Monday
- PSA, DP World vying for terminal near Chennai
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| MARCH 14, 2008 |
- Furetank buys 37,000-tonner from Broström
Swedish shipowner Furetank Rederi AB has acquired the 2005-built, 37,000-DWT product carrier Bro Erik from the Swedish tanker owner and operator Brostr'm. The deal generates a SEK 65 million pre-tax profit and a net cash contribution of ...
- Wärtsilä to design European research icebreaker
The Wärtsilä-owned design and marine consultant Schiffko GmbH in Hamburg will design the new research icebreaker Aurora Borealis for the Alfred Wegener Institute for Polar and Marine Research in Bremerhaven, Germany. The ship shall facilitate research in ice and ...
- Successful maiden voyage for kite driven cargo vessel
German Beluga Shipping's newbuilt heavylift/multipurpose carrier Beluga SkySails of 10,000 DWT, has arrived in Mo-i-Rana in Norway after a 11,952 nautical mile long maiden voyage from Germany via Venezuela and USA. The vessel is equipped with testing ...
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| MARCH 14, 2008 |
- Bunker market report from Praxis
- Moller-Maersk says environmental issues cannot be ignored
"Playing for time is not an option" says group's CEO.
- Mexico buyers favour MGO
Bargain prices proving a good option, alternative to IFO.
- Clean up, save on fuel
Hull performance expert taking the dollar saving and lower emissions message to conference audience.
- Dutch official stresses CO2 cost of switch to distillates
Dutch refineries would emit an extra 3.5 million mt of CO2 if they had to convert residual fuel to distillates for Rotterdam bunker market.
- SkySails ship completes 12,000 miles round trip
Ship's captain says a new a 'new chapter' has been written in the history of shipping as towing kite cuts bunker consumption.
- Rotterdam market firming again
- Supply shortage on cargo delay
Hong Kong bunker market facing some 380 cst product tightness.
- Liner operator could stock bunkers at box ports
CMA CGM chairman considering dedicated oil tanks at key ports.
- Singapore barge operator to move office
- IEA meeting to discuss oil prices
Crude oil climbs above $110 per barrel.
- Subic Freeport may double bunker storage
Growth in traffic at Philippines port prompts bunkering investment.
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