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| JULY 23, 2008 |
Shipping News
- Government divestment plan lifts Daewoo shares
South Korea will privatise state-invested firms including Daewoo Shipbuilding and Marine Engineering, its finance minister said yesterday, lifting shares of the world's No 3 shipbuilder by 5 per cent.
- Baltic index falls further as Aussie congestion eases
The Baltic Dry Index, a measure of shipping costs for commodities, had a seventh straight decline as vessel congestion eased in Australia.
- DRPA to refinance debt worth US$358m
The Delaware River Port Authority (DRPA), one of the last municipal borrowers to issue auction-rate bonds, will refinance US$358 million of the debt this week, more than five months after the market collapsed.
- Royal Caribbean's net profit falls to US$84.7m
Strait Talk
- A sinking feeling for smaller shipping lines
THE international shipping market has always been notable for entrepreneurs who have come along, set up lines and flourished.
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| JULY 23, 2008 |
- Bidding war begins as NOL openly bids for Hapag-Lloyd
- APL reveals June container volume and revenue up 13pc
- Shekou, CIQ set up green passage for Olympic cargo at CCT
- OOCL renews US Customs-Trade Partnership Against Terrorism certificate
- Maersk turns to Yiwu International Logistics Centre for transshipments
- Canadian National, CP team up for Vancouver yard switching
- Staten Island ExpressRail performs well in first year
- CEVA integrates global businesses with four new heads
- JAL launches charters from HK to Haneda Airport, Tokyo
- Air New Zealand's starts Auckland-Beijing service
- Air Canada to reduce flight frequency yet again
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| JULY 23, 2008 |
- Schenker India proves its ODC logistics expertise once again
- FEFC carriers gain as Asia-Europe trade grows
- GE Shipping to enhance presence in offshore segment
- Passenger vessel built at HSL sets sail for Lakshadweep
- KoPT's Diamond Harbour CT cost estimates double
- We facilitate trade & solve problems, clarifies Customs chief
- Rlys' Q1 freight revenue surges by 22 pc
- Velji Dosabhai ships 20 export boxes from ICD-Ankleshwar to JNP Cost-effective facility for trade
- Tea exporters now face regulations
- IMF predicts 8 pc GDP growth in 2008
- Exim Bank to raise Rs 17,000 cr. this fiscal
- Ficci wants changes in NAMA draft
- Duty drawback made simpler
- Nama-11 rejects move to limit flexibility on tariffs at WTO meet
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| JULY 23, 2008 |
- Ceva announces worldwide integration of business units
- New shipping services from Russia to Western Europe
- Swiss acquires Servair
- Dachser and Seacon Logistics found joint venture
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| JULY 22, 2008 |
- Pirates seize bulker
- NOL bids for Hapag-Lloyd
- Singapore to aid Indonesian ferry safety
- OW continues training programme
- Draught survey warnings
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| JULY 22, 2008 |
- Derecktor Shipyards Connecticut files for Chapter 11
- Shipping industry protests Hebei Spirit detentions
- Somali pirates seize 52,454 dwt bulker
- NOL makes bid for Hapag-Lloyd container business
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| JULY 23, 2008 |
- Investors shrug off doubts over NOL's Hapag-Lloyd bid
NOL'S stock rises despite earlier concerns that it may overpay for the German line.
- NOL talks down Hapag-Lloyd takeover value
- Wei resigns as chairman of third Cosco unit
HE stepped down as chairman and director of Hong Kong-listed Cosco Pacific to concentrate on leading Cosco Group.
- New IEX India-US service set to replace old IDX route
OOCL, Hapag-Lloyd, CMA CGM, NYK and APL to launch new service on August 8.
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| JULY 22, 2008 |
- Kremlin divvies up Sakhalin-1 gas
GAZPROM has climbed down from demanding sole rights to sell all of the gas from the Sakhalin-1 scheme.
- Singapore investigates bunkering
AT LEAST one bunker supplier ' Gas Trade ' is being investigated in Singapore on suspicion of unauthorised transfer of fuel from a terminal, Fairplay 24 has learned
- RCCL ties layoff to price rise
ROYAL Caribbean Cruises chairman Richard Fain has acknowledged today that the company's 400 layoffs were a painful but necessary reaction to unprecedented operating difficulties in the cruise sector
- Security tactics spur suit
A LAWSUIT filed against Princess Cruises and US law enforcement agencies alleges that two passengers were the victim of civil rights violations during a security scare
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| JULY 22, 2008 |
- ILWU contract talks progress, but frustrations remain at dock slowdowns
No union labor agreement yet, but both sides say progress is being made on reaching a new multi-year labor contract for West Coast ports.
- Evergreen, Port of Baltimore in 10-year agreement
- NOL bids for Hapag-Lloyd
- Storm to hit Brownsville port
- Record Norfolk Southern net
- New project liner service connects Asia, WCSA
- UPS profit slides 21%
- Insurers bid for Panama Canal advisory services
- New vessel expands Caytrans breakbulk service
- US offers farm support cuts
- OOCL joins Indamex lines
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| JULY 22, 2008 |
- LA productivity 'down 40%' as contract talks continue
- NOL confirms indicative non-binding bid for Hapag-Lloyd
- Dolly upgraded to hurricane but oil price still eases
- DP World issues trading update
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| JULY 22, 2008 |
- Arlington jumps
Edward Terino-led tanker owner posts 34.9% boost in second-quarter profits.
- Euronav orders
Belgian owner books three tankers at South Korea's Samsung Heavy Industries.
- Royal rise
Richard Fain-led Royal Caribbean's stock posts big gains Tuesday after the cruiseship owner unveiled cost-cutting measures.
- Doubly Maersk
Maersk Line Limited paid $11m each for a pair of vessels exclusively brokered by another AP-Moller Maersk arm.
- Ampal wants all
US-listed company makes bid for remaining stake in Gadot Chemical Tankers and Terminals.
- Profits galore
Euronav reports its best-ever first-half results as tanker rates surged.
- Korea roasted
Nation under fire for unjust and unreasonable detention of two officers cleared of causing the Hebei Spirit oil spill.
- Suape swells
Brazilian port sees 18.7% cargo surge in the first half as dry-bulk and project cargoes jump.
- Ocean Rig de-lists
DryShips pulls Ocean Rig off the Oslo Stock Exchange after taking full control of the company.
- Wei off again
Cosco Group chief walks away from second chairmanship in two days after quitting his post at Cosco Pacific.
- Oman, not again!
This time French Navy come to aid of UAE ship off Oman after Lehmann Timber ordeal ends.
- Supramax seized
Somali pirates may have landed biggest catch to date with reports a Japanese bulker is hijacked.
- Any takers?
No bids yet as WSF tries to sell its four Steel Electric veteran ferries on eBay.
- Tallink warns
Fuel bills have doubled since September, leaving Estonian ferry player at a loss this year.
- STX adds one
Korean shipbuilder books a VLCC newbuilding from Europe for $153m.
- Chinese takeaway
Malaysia's Global Carriers picks up $20m product tanker at its old favourite, Ningbo Shipyard, with tasty delivery date.
- DSME on song
South Korean shipbuilder bags record sales in the second quarter lifting its bottom line by 13%.
- RCCL axes 400
Soaring fuel costs send profit slumping and staff out the door as RCCL also pulls out of student programme.
- Vroon breezes in
Dutch owner has ordered two wind turbine installation ships at Cosco Nantong in China.
- Full speed ahead
Sale of share in Daewoo Shipbuilding to go ahead 'immediately', Korean finance minister says.
- GSI thinks big
Takeover of Wenchong yard to give major boost to Chinese shipbuilder's 2008 profit
- Price of progress
NOL has bid for Hapag-Lloyd but analysts fear it will pay over the odds to gain control.
- Derecktor files
US ferry builder enters Chapter XI bankruptcy protection to settle dispute over ship delivery.
- Ray eyes yards
Israeli car carrier king Ravi Ungar wants to build up to seven shipyards in Vietnam
- Fiji fury
Construction company stuck on remote island with 13 trucks for two days after chartered ship ups and leaves.
- SCI's bonus
State owner plans to issue extra share for every two held, most of which will go to the government.
- Engines galore
MAN wins 18 engine order from AP Moller for recent boxship orders at Hyundai.
- BGP near order
Chinese geophysical company poised to contract seismic streamer newbuilding.
- More SapuraCrest
John Fredriksen's Seadrill takes another nibble of Malaysian offshore player.
- Extras aid NOL
BAF and higher backhaul freight rates help lift revenues at Singapore liner operator.
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| JULY 22, 2008 |
- NOL, Hamburg consortium vie for Hapag-Lloyd
- Senate wants Kings Point audit, citing possible misuse of funds
- Suez Energy proposes U.S.-flag re-gas ship for LNG import plant
- ESPMC-WITASS implementing heavy box surcharge
- CMA CGM U.S. subsidiary makes three changes
- Horizon Lines names director of investor relations
- UPS 2nd quarter profits tumble
- Forward Air reports improved results
- Canadian Pacific Railway sees profits decrease
- WTO finds against Chinese treatment of imported auto parts
- NFTC warns against clouding Doha talks with IP rights issues
- Marsh, AIG offer new supply chain disruption insurance
- Chinese auto components exports to India soar
- Stanley awarded $3 million USTRANSCOM contract
- Feds donate dredge fill for new Charleston terminal
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| JULY 22, 2008 |
- Chinese fuel oil imports slump
High prices blamed for collapse in demand.
- Bunkering fumes draw new complaints
Undesired side-effects hard to avoid despite Gibraltar's 'very well regulated' bunker industry.
- New main number for Global Fuels & Lubricants
- Global bunker market report
- Rotterdam market firming quickly
- New bunker facility boosts throughput
Novorossiysk port says bunker transshipment complex is making an impact.
- Trading manager appointed to Chemoil's Singapore team
New recruit has background in regional oil products trading, derivatives and brokerage.
- Bunker prices rebound in Asia
Demand reported to be average.
- Bunkerworld welcomes panelist to Risk Management forum
- Sri Lanka's biggest supplier to lose Colombo tank facilities
Supreme Court orders holding company to return a block of port land to the government.
- HPCL offers end-August fuel oil cargo
The 380-cst cargo likely to be sold at a firm price due to a tight East Asian market.
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