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| FEBRUARY 18, 2008 |
Shipping News
- LA-Sydney airfares expected to head south
Travel between Sydney and Los Angeles, considered one of the world's more popular but most expensive routes, soon may get more competitive for airlines and less expensive for passengers.
- Tanker rates stay low
Rates to transport oil from the Caribbean on Aframax tankers were little changed, close to a four-month low that may be the bottom for the market, broker Galbraith's said.
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| FEBRUARY 18, 2008 |
- HK January volume rises 4pc to 2.06m TEU, Singapore up 13pc to 2.4m TEU
- Qingdao's cargo volume becomes second largest in China
- Shanghai customs launches international LCL transit service
- Kuehne + Nagel to distribute Carrefour goods in Turkey
- Netherlands enjoys best transport connections in Europe: Dutch study
- CII names new president, chairman, treasurer and VP
- Thai Airways charged in EU cargo cartel investigation
- Air France-KLM surpasses Lufthansa Cargo in January volume
- Pune's Lohegaon airport closes until February 26 for upgrade
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| FEBRUARY 18, 2008 |
- Dutch team offers latest knowhow to shipbuilding sector in Gujarat
- Fuel-saving device for vessels
- APL Logistics introduces new concept in supply chain solutions
- India Shipping to be merged with ESL
- SCI CMD calculates $ 20 bn investment by shipping cos over 6 yrs merely to retain market share
- Montana Shipping executes largest & heaviest containerised shipment at Mumbai Port
- Pipavav Shipyard entering uncharted waters
- Bangla to buy 5 lakh tonnes of rice
- Zero duty swells gems & jewellery imports by 33 pc
- MICT adjudged 'Best Container Seaport' at Gujarat Logistics Awards 2007
- Port of Rotterdam eyes stake in Indian ports
- Major ODC order for Vijay Tanks & Vessels
- PM's panel recommends fiscal measures to prop textile sector
- KASEZ to be given autonomy status
- ECGC presents dividend cheque of Rs 80 cr.
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| FEBRUARY 15, 2008 |
- Klaus Zumwinkel under investigation
- UPS Germany installs new top executive
- Maersk Line switches to euro
- Singapore Airlines will fly A380 to London
- New contract for Panopa in Poland
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| FEBRUARY 15, 2008 |
- Norwegian owners approve Liberian registry
- Ocean HeavyLift's weaker Q4
- Eitzen Chemical's profit tumbles
- Wilh Wilhelmsen profit down
- Frontline buys stake in Navig8
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| FEBRUARY 17, 2008 |
- U.K.'s new Fleet Tankers could be built in Korea
- Hyundai Heavy discloses drillship contract
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| FEBRUARY 15, 2008 |
- Port Tacoma, SSA, Puyallup Tribe ink MOU for new shipping terminal
- US rail freight traffic delivers negative week
- NYK Group company/Tsuneishi develop fuel saving device for vessels
- Washington export numbers jump 24.84 percent during 2007
- Transportation connector project completed in Portland
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| FEBRUARY 15, 2008 |
- Oceanaut and Restis scrap $700m bulker deal
FIRMS agree to end pact after falling victim to double whammy of banking and stock market turbulence.
- Restis takes major stake in Sea Star
- TOP Ships settles class action for $1.2m
NASDAQ-listed company clinches settlement with lead plaintiffs in class action filed against company, directors and officers.
- BAE Systems and DSME join forces for tanker bid
DEFENCE specialist ties up with Korean shipbuilder to vie for contracts to build UK Ministry of Defence vessels.
- Ports sector takes the strain
WHILE P&I clubs fear that a shipping boom has increased ship casualties, ports are also showing the strain of heavier workloads.
- South American smash and grab
THERE must be major worries about Venezuela, with the government of this major oil exporter behaving in an increasingly erratic way.
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| FEBRUARY 15, 2008 |
- Top reveals $1.2M plaintiff payoff
Top Ships will pay $1.2M to settle the class-action investor suit stemming from its 2006 accounting restatement
- Russians lose steering in Sea of Japan
THE Russian-owned, Mongolian-flagged ro-ro cargo ship Otani, crewed by 24 Russian mariners, is under tow after a steering and propulsion failure in the Sea of Japan
- NSA lifts sanction on Liberian flag
THE Norwegian Shipowners' Association has lifted its seven-year shunning of the Liberian flag
- Suit claims cruise conspiracy
A NEW suit seeking class-action status alleges that cruise lines illegally colluded to set fuel surcharges
- GL looks beyond maritime to energy
GERMANISCHER Lloyd has appointed a third board member with full responsibility for its industrial services division, underlining its growing ambitions outside the maritime sector
- DryShips torpedoes Street forecast
- MarAd urges caution in Nigeria
- Senate splits on ship air pollution
- USCG to assess Northwest Passage
- Spain to supply France with LNG
- Profit from others' misfortunes
- Financiers lose faith in shipping
- K-Line opens Manila training centre
- Pacific Basin orders ro-ros at Odense
- Rain causes coal terminal shutdowns
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| FEBRUARY 15, 2008 |
- Port of Long Beach drops employee driver mandate for clean trucks program
Motor carriers can operate with employee drivers or independent contractors under final version of clean-trucks plan.
- Six TWIC sites added
- Trucker hours rule comment period extended
- Coast Guard joining ITDS
- Deutsche Post CEO quits
- Obama proposes 'bank' to stimulate infrastructure spending
- Intermodal slows rail growth
- Canada trade surplus sinks
- Hanjin plans Spanish terminal
- China trade surplus gains
- Lines cite delays at DP World's Chennai terminal
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| FEBRUARY 15, 2008 |
- Survival of the fittest in the 2008 ocean carrier jungle
Just seven weeks into 2008 and the bears are still outnumbering the bulls in what has all the signs of being an extremely turbulent remaining 45 weeks for stock markets, businesses, consumers and shipping.
- Long Beach January volume slumps by 14%
- Vancouver marine industry furious at dockers
- Singapore's container volume up 13%
- Southampton boxes soar by 27% in 2007 despite congestion
- Genoa in trouble over VTE again
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| FEBRUARY 15, 2008 |
- Emirates hulls for sale
Aframax tanker hulls at Hyundai Heavy Industries are circulated as up for sale.
- Stars align for $42m AHTS sale
The Sagitario is sold to unnamed Chinese interests, while a pair of OSVs go to Malaysian buyers.
- Steel mill buys bulker
Newcomer in China's steel industry throws down $34.9m for a handysize bulker, as Unibulk takes a handymax pair for $82m.
- DryShips buyback?
Cantor Fitzgerald analysts suggests it might be time for George Economou's DryShips to jump on the buyback bandwagon.
- George fires back
DryShips chief describes Peter Georgiopoulos' criticism in TradeWinds as "slanderous language".
- Unibros doubles its money
Greek owner reportedly sells three modern products tankers to Hellespont for $30m each.
- Panayotides steps forward
Excel chairman will keep the CEOs seat warm for Stamatis Molaris after taking over from Christopher Georgakis today.
- Top offers $1.2m
US owner reveals cost of halting legal action by shareholders over accounting.
- Tay Za makes shipping move
Burmese tycoon reportedly snaps up tanker and cargoship in Korea.
- More vessels, greater reward
Simeon Palios-led Diana Shipping sees 2007 profits boosted by the arrival of new tonnage and higher charter revenue.
- No ro-ro woe for Pac Basin
Eyebrows were raised at the bulker owner's $375m investment in ferry newbuildings but money men welcome the change to buffer future dry-cargo declines.
- Hong Kong tries again
Fare hikes in bidding war for outlying island ferry routes force rethink on tenders.
- Captains or CEOs?
BC Ferries views masters as chief execs at sea and wants them to leave their union.
- Gossip fuels CSCL surge
China Shipping (Group) unit sees stocks take off as market waits for it to pick up container assets from its parent.
- The new Red Sea
Nearly half of the world's oceans are badly polluted by human activity including oil and gas exploration and shipping, Technicolor study shows.
- Ferry workers win gas damages
Seattle court awards more than $1m to three WSF staff exposed to chlorine in toilets.
- Aker losing in Romania
Norwegian shipbuilder's two Romanian yards racked up combined losses of EUR 4m in 2007.
- Tax kept UK shipping alive
British maritime industry is five times the size it would have been without tonnage tax, report says.
- Toei back in black
Japanese reefer line turns around losses to emerge in credit for nine months to 31 December.
- Ship adrift off Japan
Russian rescue vessel despatched to tow drifting ro-ro to Primorye after steering wheel broke.
- Two dead at HSL
One Indian yard worker found hanged, while another dies in crane accident.
- SNO eyes merger
Romanian shipbuilder will swallow up Constanta's SCM in share deal.
- Port Hedland may close
Approaching tropical cyclone Nicholas may force closure of Australia's largest iron-ore port.
- Profits double at Thoresen
Ship disposal gains plus strong freight market help Thai bulker player make perfect start to year.
- DryShips in record quarter
Economou says recent quarter was the "best in the company's history" as profits jump fivefold.
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| FEBRUARY 15, 2008 |
- Wilh. Wilhelmsen profit slumps in 2007
- Norwegian shipowners drop call to boycott Liberian registry
- And the winner is: NYK gives OSCAR to subsidiary T.S.K. Line
- Paasivaara joining Germanischer Lloyd executive board
- Sea Star, Interline Connection teaming in Eastern Caribbean
- Aurousseau joins Miami office of CMA CGM (Caribbean)
- Report: Deutsche Post head offers resignation
- DB Schenker starts new Swedish paper rail service
- COAC recommends changes to "10+2" rule
- U.S. exports up 12.2% in 2007
- IMF hits out at China, India
- L.A.-Long Beach box volume down 8.5% in January
- Port of Brunswick reopens
- Seattle port hires former U.S. Attorney to head audit investigation
- Singapore port throughput up 13% in January
- Karachi chamber lambasts port congestion surcharge
- APM adds cranes at Rotterdam Terminal
- New Guam port master plan calls for $193 million in upgrades
- SoCal ports to receive $18 million in state security funds
- Weston wins contract for Long Beach port soil cleanup
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| FEBRUARY 15, 2008 |
- BW Gas to sue Norwegian government
BW Gas is left with a tax liability of NOK 3.9 billion after the old, Norwegian shipping tax system is abandoned and replaced by a new tax system. According to the BW Gas CEO Jan H'kon Pettersen the company ...
- Waxholmsbolaget orders from Finland
The Stockholm archipelago ferry service company Waxholms 'ngfartygs AB and the Finnish shipyard Uki Workboat Ltd have signed a contract for the delivery of two 31.3 m long, ice-going passenger vessels. The value of the contract is SEK ...
- Loss-making vessel sinks SRAB result
The Stockholm-based shipowner SRAB Shipping reports a SEK 11.4 million (EUR 1.2 million) pre-tax loss for 2007, against a SEK 4.8 million (EUR 0.5 million) profit the previous year. A major part of the ...
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| FEBRUARY 15, 2008 |
- Bahamas barge out of action
- Rotterdam players want clarity over demurrage claims
Industry body calls for standard fuel oil trading contract as barge operators face losses over loading delays.
- Global designs at IOC
Plans launch of marine lubricants in Gulf region to 'tap global market'.
- Chinese buyers pounce on bunker grade IFO
Harsh winter triggers surge in demand from bulk carriers as China struggles to keep coal shipments moving.
- Rotterdam market remains firm at midday
- Bio-additive shows promise on PM reductions
40% PM reduction achieved during year-long sea trial in Europe, other emissions also lower.
- Fuel oil stock falls for second straight week
Singapore's middle distillate stocks highest in six months.
- ExxonMobil offers Yanbu cargo for March
A 90,000-mt parcel on offer for March loading from the Middle East.
- Crude oil prices leap to $95
Smaller-than-expected gains in the US crude oil inventories lend support to prices.
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