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| MAY 20, 2008 |
Shipping News
- AP Moller-Maersk's Q1 profit nearly triples to US$1.1b
Danish shipping and oil group AP Moller-Maersk said its net profit nearly tripled in the first quarter due to higher oil prices and higher container freight rates, boosting its shares by 7 per cent.
- Baltic Dry Index extends record in London trade
Commodity shipping costs rose to a record for a second day last Friday as congestion at China's ports exacerbated a shortage of vessels and the nation's steelmakers buy unprecedented volumes of iron ore.
- Volatility seen in bulk ship market after record rates
Freight costs for natural resources could break more records, but the market will be volatile as it grapples with heavy iron ore supplies, congestion at ports and new vessels.
- Korean shipyard shares on the rise
- China faces hightened oil-spill risk
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| MAY 20, 2008 |
- Evergreen, Cosco to upgrade China - Arabian Persian Gulf service
- China, France to build stronger transport partnerships
- Chongqing plans to eliminate smaller ships for bigger ones
- Qingdao Port throughput exceeds 100 million tonnes in first four months
- EU slams 100pc box scanning as too costly to implement
- Aqaba container terminal joins Project Rebuild Iraq 2008
- Fesco net earnings fall 30 fold in first quarter
- Transport sector rushes help to quake and cyclone victims
- ACE Aviation Q1 loss hits US$180 million after cargo cartel provision
- Employees gather for blessing after Aloha Air Cargo bought
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| MAY 20, 2008 |
- APL expands Asia-Australia service with two new loops
- Emirates quits AGX service
- ...expanding service calling Vietnam, Taiwan, Singapore
- K Line joins Wan Hai on Japan China Vietnam service
- Hapag-Lloyd's 8,749-TEU vessel to also serve as training ship
- Marchen Maersk named at Odense Yard
- Med ports increasingly opting for Kalmar's RTGs
- CMA CGM offers new maritime training programme in Marseilles beginning Sept.
- Evergreen Group Chairman honoured
- DP World starts building box terminal in Peru
- Russia's 'Big Port'
- MOL to build 53 new iron ore carriers
- Hutchison, Cosco bid to operate Greek port of Piraeus
- GE Shipping delivers Jag Vikas
- K. Sankar takes charge as Schenker India's head of operations down South
- Panalpina offers ex-im trade an array of specialised logistics solutions
- Mercator Lines tests uncharted waters
- ...net swells by 175 pc
- ECGC, United India strike deal to offer exporters free marine insurance
- Gems & jewellery exports off to dazzling start in 2008-09
- Farm trade vital for India-US FTA-Envoy
- Maharashtra wine now toast of the world!
- IRISL's m.v. Lucky Man makes maiden call at MPSEZ container terminal
- Rlys to waive 30 pc surcharge on iron ore transported for domestic use
- 'Green' signal for Navi Mumbai airport
- CWC's AFS-Virugambakkam clears 1st import consignment
- Industrial growth nose-dives to six-year low
- Ficci-PwC study brings out investment opportunities for NZ & Australia
- Crude import duty cut ruled out
- CBEC serves notice on CII
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| MAY 19, 2008 |
- Panagia and Wraight leaving Cargoitalia
- Gondrand appoints new CFO
- HHLA: successful start to business year 2008
- BA posts record results
- DPWN improves sales, but not profit
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| MAY 19, 2008 |
- Aid ship hijacked
- AP Moller profit up
- Hellenic fixes panamax at US$71,000 a day
- Evergreen rejigs Asia services
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| MAY 19, 2008 |
- GD delivers Unmanned Surface Vessel
- $850 million drillship sale and leaseback
- Intermarine to add eight newbuilds
- Safe Bulkers, Inc. plans IPO
- Guangzhou to build 12 anchor handlers
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| MAY 19, 2008 |
- Port of Bellingham marina earns environmental honor
- Coast Guard training vessel to visit Astoria in June
- Port of Haifa director visiting Port of Portland
- Homeland Security Department sets new round of grants for 2008
- CKYH Alliance carriers changing Asia/US services
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| MAY 19, 2008 |
- Dry bulk rates surge towards $300,000 per day
CAPESIZE rates are pushing the dry bulk market skywards as Baltic Dry Index hits another high.
- Red hot dry bulk rates head to new heights
- Safe Bulkers heads for Wall Street
POLYS Hajioannou-led company to kickstart US dry bulk IPOs with $220m listing.
- CMA CGM pledges support for French ports
GROUP will continue to give priority to French terminals despite disruption caused by strikes.
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| MAY 20, 2008 |
- A tale of two oil spills
THE FINAL US Coast Guard report into the Cosco Busan incident says many observations are almost identical to those made about the Cape Mohican (IMO 7223314) 266 tonne oil spill in 1996 and in San Francisco.
- US masters call for policy shift
A GROUP representing senior US ships masters is asking that vessel documentation and inspection be transferred from the Department of Homeland Security (Coast Guard) to the Department of Transportation (Maritime Administration). Full Story
- Iran makes $88M to expand Caspian fleet
IRAN'S maritime authorities have raised $88M from banks to fund the renovation and expansion of the Caspian Sea shipping fleet. Full Story
- Goldman Sachs loses Daewoo M&A
GOLDMAN Sachs has lost its place in Daewoo Shipbuilding's M&A process. Full Story
- OPEC profiteering could cause recession
A GLOBAL economic recession is looming if OPEC does not open the oil taps and increase crude supply to rein in oil prices, claims the Centre for Global Energy Studies. Full Story
- Rates affect trade patterns
HIGH oil prices and a buildup of onshore stocks are causing crude oil tanker movements to shift eastward and halve in duration, claim analysts at the Centre for Global Energy Studies.
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| MAY 19, 2008 |
- Feds defend ILA lawsuit
Urge federal judge to reject defense motions to dismiss racketeering lawsuit against longshore union.
- Port of Seattle expects to sign container line for T-18
- Panama Canal traffic off
- U.S. ports mulling anti-pollution measures
- More smog cuts needed by S. Calif. transport industry
- CKYH looks to save fuel on trans-Pacific services
- McCain opposes U.S. subsidies for agribusiness
- New container vessel joins Safmarine U.S. service
- Intermarine adds heavylift ships
- Ice chills Lakes cargo
- Guam port plan goes to vote
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| MAY 19, 2008 |
- CMA CGM's ANDEX targets South America West Coast growth
- Box screening for more Aus ports
- Evergreen announces maiden East Asia-Australia link
- Panama Canal pilots' go-slow 'isolated'
- Trailer Bridge in the red in Q1
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| MAY 19, 2008 |
- Rainbow ahead
Stunning image by OSG tanker master Charles Brown in commanding lead in TradeWinds Maritime Photographer of the Year contest.
- Surplus for Steamship
Release of old year claims provision boosts reserves for club that faces hefty Cosco Busan bill.
- DryShips profits double
George Economou's US-listed bulker owner increases net income by 160% thanks to stronger rates.
- Genco fixes another
Peter Georgiopoulos-led bulker owner reveals its second three-year fixture in a day.
- Trailer Bridge charges
As stock in the Puerto Rico container barge specialist jump by 21.3% after an analyst upgrade, other US-listed shipping companies rise and dry-bulk slips.
- Molaris confirms yard woes
Excel Maritime Carriers' four capesize newbuildings at greenfield Korea Shipyard may not be delivered.
- Excel forecast boosted
After first-quarter results beat expectations, a Cantor Fitzgerald analyst pumps up her forecast for the US-listed owner's earnings and share price.
- Genco in shares sale
New York bulker owner readies a stock offering to boost coffers and allow major stakeholders to cash out.
- Intermarine gets heavier
US heavy-lift player ties up eight more Jungerhans units on order in Portugal with long-term charters.
- Saevik looks for Aker exit
Norwegian shipowner will sell stock at a discount rate, blaming a lack of support for his strategy going forward.
- More Prosperity for Pac Basin
New York's Genco Shipping & Trading extends a handymax bulker's time-charter by three years.
- Jinhui beefs up orderbook
Bulker owner inks another supramax unit at Japan's Oshima Shipbuilding.
- Kassiotis takes resales
Omega Navigation bags two product tankers newbuildings in $111m spree.
- VLCC orders surge
Broker says newbuilding orders for VLCCs are racing ahead on the back of red-hot freight rates.
- Excel spot on
Surge in average spot or short-term charter rates trebles first-quarter net profit at Excel Maritime Carriers.
- Euroseas buys low
Greek owner builds fleet with deal for 2,556-teu vessel for what it says is a price reflecting lower charter rate.
- Fredriksen frees up $600m
Seadrill completes $850m sale-and-leaseback of newbuilding, with similar deals on the table for other units.
- Dover Strait near-miss
Investigators probe close-quarters situation between cruiseship and car carrier in busy waterway.
- Rieber rocks up at Bluestone
Norwegian offshore owner grabs 40% of Singapore geotechnical specialist for an undisclosed fee.
- Two more dead at Tuzla
Two separate accidents claim more lives at under-fire Istanbul shipyard complex.
- Sadra strike solved?
Iranian yard workers walk out over unpaid wages, but solution is in sight.
- Atlantis reborn
Orkla Finans and RS Platou Finans team up in shipowning joint venture, with Hans Jurgen Firing and Per Engset already recruited to the board.
- Sugar ship seized off Somalia
Suggestion that vessel is carrying military equipment denied by operator, but no demands yet from pirates.
- Nine missing off Philippines
Indonesian ship rescues two of 11 crew members of Phillipines-flagged vessel which sank in rough seas.
- MSC ship springs leak
Indian coastguard rushes to aid of boxship, plugging leak as crew prepared to abandon.
- Forecasts in Fredriksen's favour
First quarter returns expected to rise at Frontline on the back of strong VLCC and Suezmax rates, analyst says.
- "Malaria" kills worker at Subic
Six others ill after another claimed outbreak at Hanjin's new Philippines shipyard.
- CKYH rejigs transpacific loops
Coscon, K Line, Yang Ming and Hanjin make route adjustments to reduce CO2 emissions.
- Anchor-handler burns at Bender
Newbuilding damaged by blaze at US shipyard, and three firefighters injured.
- Jutha's profits sink
Lack of ship disposals dampens results in first quarter for Thai multi-purpose vessel operator.
- Goldman sacked
Investment bank will not lead sale of controlling stake in Korea's Daewoo Shipbuilding as earlier announced.
- Passengers saved from ferry fire
More than 700 people rescued after blaze breaks out on vessel in Borneo river.
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| MAY 19, 2008 |
- CKYH Alliance rationalizing transpacific network
- MISC's fiscal year sales up, profit down
- Maersk upgrading Europe/Middle East tonnage
- MSC entering Europe/West Coast South America trade
- Evergreen to start Taiwan-China-Australia Express
- IANA: International box moves down, domestic up
- U.S. plans 500,000 metric ton food aid shipment to North Korea
- U.S. ships with food aid en route to Haiti
- TAPA EMEA chairman steps down
- DHS awards ports $388 million for security
- L.A. port approves truck plan with employee-only licensing scheme
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| MAY 19, 2008 |
- O.W. Bunkering lost a tanker in a fire at Las Palmas
O. W. Bunkering & Trading A/S has lost their bunker tanker Olivia in a fire while lying at Las Palmas two weeks ago, and one crew member lost his life. During the stay in Las Palmas the boiler exploded and ...
- Russian captain put in jail after grounding on Bornholm
The police at Rønne took the 46 years old master of the Russian vessel MCL Trader into custody on Bornholm Saturday. The vessel ran aground in the early morning hours a few miles north of Rønne on Antoinette Beach on ...
- New vessels to Alfons Håkans
The Finnish tug owner Alfons Håkans has acquired the 55.5 ton bollard pull ASD tug Amber from Latvia. Renamed Triton, the tug is now operated with a Finnish crew under Finnish flag. She was built in the Netherlands in ...
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| MAY 19, 2008 |
- Navy fuel tanker modified to meet IMO standards
10% of cargo capacity lost as wing tanks are decommissioned.
- New tug design promises near-zero emissions
Hydrogen fuel cells mean zero emissions for about 85% of the time.
- Bunker market report from Praxis
- Fuel saving strategy causing rush on ships
Liners looking for more ships to maintain service capacity.
- Rotterdam barge market tight
- Tokyo: Approaching typhoon may halt bunker operations
Typhoon Halong expected to close in on Tokyo tomorrow morning.
- Busan prices undercut Singapore
Price weaken as avails improve.
- US operator looking for single hull product tankers
Converting single hull tankers can be 'attractive' risk.
- French fishermen block ports over fuel prices
Blockade to last until talks with government scheduled for Wednesday.
- New focus on quality as fuel costs climb
'Off-specs' becoming less tolerated, says DNVPS.
- New oil terminal in Georgia
Terminal has capacity to transship up to four million mt of fuel oil a year.
- Piling work begins on bunker hub
Construction 'on schedule' for Tanjung Pelepas bunkering project.
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- Piazza Matteotti 1/3 - 16123 Genoa - ITALY
