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| FEBRUARY 28, 2008 |
Shipping News
- China shipyard warns of sector slump
China's No 1 shipyard expects rosier 2008 earnings after having secured better prices, but warned yesterday of slowing orders for new ships as a United States economic recession threatens to crimp global trade.
- Thai Airways posts 54% dip in profit
Thai Airways International Pcl, the country's largest carrier, posted a 54 per cent decline in profit in the last three months of 2007 because of currency fluctuations.
- US Airways adds US$25 charge for second bag
US Airways Group Inc said it will start charging fliers US$25 to check in a second bag, the latest effort by the company to raise revenue and deal with rising costs.
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| FEBRUARY 28, 2008 |
- MSC to offer Central America service from mid-March
- Colombo box port likely to founder over Hong Kong-Singapore row
- Hainan's Yangpu port boosts container throughput 30pc in 2007
- Long Beach snubs Teamsters, drops LA to start its own clean truck plan
- UK's Abnormal Load Services opens Singapore office
- Pacific Basin Shipping diversifies into ro-ro, orders four ships for US$375 million
- Shipping lines, CTs exact 300pc rise in Nigerian box handling charges
- China Maritime 2008 exhibition comes to Hong Kong March 12-14
- St Louis looks to developing air cargo hub for China trade
- Boeing, Virgin, GE Aviation to fly first biofuel jet
- Continental orders 27 Boeing 777s and 737s
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| FEBRUARY 28, 2008 |
- SAL receives new heavy-lift vessel, m.v. Frauke
- GE Shipping contracts to sell 2 MR product tankers
- Essar Shipping to raise $ 1 bn through bonds
- Modest Infrastructure bags Ambuja Cement order for 2 ships
- Panel of judges announced
- Vizag Seaports handles over 3 m tonnes of bulk cargo in April-Jan. 2007-08
- R. Shinde elected Secretary of Port Workers' Federation
- Sweeter daily record in salt discharge set at Vizag Port
- Sical Logistics lays ground for Nagpur road terminal
- Gati's strategic deal with GLS to garner larger slice of European market
- Top container operator sees need to tweak wagon leasing policy for smooth going
- IMC chief lauds Lalu for exemplary, growth-oriented, pro-people policies
- Lalu on the right track, says AIAI head
- Lalu budgets for big-ticket private investments
- CONCOR to set up 8 more ICDs in 2008-09
- The Wheels of Change
- Goa CM open to dialogue with SEZ promoters
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| FEBRUARY 28, 2008 |
- Eimskip CEO leaves company
- MSC (USA) announces new Central America service
- ABSA Cargo Airline adds to international network
- ERS launches new shuttle Rotterdam'Bologna
- Gruber Logistics banking on more airfreight
- Iata World Cargo Symposium 2008
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| FEBRUARY 27, 2008 |
- Russian ship freed
- GEM orders aframaxes
- "Strong growth" for Deep Sea
- Intercargo in vetting deal
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| FEBRUARY 27, 2008 |
- BC Ferries reports third quarter loss
- Gulf Island records soaring income and revenues
- Former Lott staffer joins Northrop Grumman
- ABG delivers AHTS to Lamnalco
- Chang takes helm at ST Marine
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| FEBRUARY 27, 2008 |
- Final Blair Waterway piling driven for Port of Tacoma project
- Crowley nets contract for Alaska cruise ship program
- TrentonWorks Ltd. applies for receivership
- Washington governor co-chairs transportation policy meeting
- US steel import numbers up during month of January
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| FEBRUARY 27, 2008 |
- Rights debate threatens to derail new casualty code
AMMENDMENTS to make mandatory flag state investigations into casualties face delays by disagreement over seafarers' rights.
- Accident probe consensus is elusive
- UK box ports to remain in 'tight balance'
TOP government transport economist predicts continuing tight balance between capacity and demand over next five to ten years.
- Britain coastguard strike to go ahead
MARITIME and Coastguard Agency staff belonging to PCS union to start 24-hour
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| FEBRUARY 27, 2008 |
- Genoa to kick PSA out of Voltri?
Genoa Port Authority has threatened to withdraw its terminal concession to Voltri Terminal Europa if productivity does not improve
- Indians probe Rezzak crew manager
INDIA'S directorate general of shipping has ordered an inquiry into the Mumbai-based ship management company that provided manpower to the missing vessel Rezzak
- UK to act on seafarer 'poverty' pay
THE legislative process has started in both houses of the UK parliament to bring to an end "poverty wages" paid on British vessels
- OSG profits halved despite rally
Overseas Shipholding Group's profits plunged 46% last year on a mix of much lower freight rates and higher fuel costs
- Arntzen in bullish mood
Overseas Shipholding Group CEO Morten Arntzen contends that flat VLCC capacity, higher tonne-mile routes and accelerated phase-outs bode for a very good year
- USCG joins burning reefer battle
SEAFARERS and fishermen aboard the reefer vessel Pacific Glacier have contained a below-decks fire this morning as the USCG Cutter Alex Haley has evacuated most of the crew
- ASRY fraud official identified
- Crowley seals cruise ranger contract
- Boskalis renews Smit assault
- Congress presses MarAd on shortsea
- Burnt ship still hampers Santos
- Three new box berths for Busan
- Sharp downturn forecast for LA/LB
- Courage soars on 'sizzling' rates
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| FEBRUARY 27, 2008 |
- Long Beach urges Los Angeles to drop employee truck driver mandate
Split widens between LA and Long Beach over plan to reduce pollution from harbor trucks at busiest box hub.
- S. Calif. shippers facing another container fee
- ExxonMobil urges Supreme Court to limit Valdez award
- Court nixes California low-sulfur fuel rules
- WTSA sets fuel fee hike
- Costa Rica granted delay for CAFTA qualification
- Steel imports up 33%
- Long Beach wants LA to drop employee-driver mandate
- Worker dies at NJ port
- Maersk adds Asia-Mideast loop
- China inflation increases
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| FEBRUARY 27, 2008 |
- Geodis aiming to buck the credit crunch in 2008
- Kramer wins Zim barge traffic at RCT Rotterdam
- Hamburg Sud confirms new arrangements for NE Asia/Australia service
- Kalmar beefs up Tacoma's operations
- APM T finds nearby solution to barge congestion at Rotterdam
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| FEBRUARY 27, 2008 |
- Owner's profit tanks
New York-based General Maritime sees quarterly profits sink 77% as a result of interest and 'other' expenses.
- Moody's cuts box hauler
Puerto Rico container barge specialist Trailer Bridge gets outlook cut to negative on international economic worries.
- Eagle talons grab profits
New York bulker owner sees profits nearly quadruple in the fourth quarter as a growing fleet pays off.
- Golar LNG downgraded
Two analysts cut the rating for the US-listed LNG carrier owner, as Jefferies adopts a cautious sector outlook.
- Court eyes damages cut
Supreme Court hears arguments on the Exxon Valdez case, with some justices signalling that ExxonMobil's $2.5bn punitive damages bill might be too high.
- MCA strikes go ahead
Coastguard and surveyors vote to take unprecedented action in escalating pay dispute.
- Ranger deal worth $4m
Crowley Maritime confirms it was tapped to provide onboard "ocean rangers" to monitor cruiseship discharges in Alaska.
- Fresh twist for Piraeus strikes
Port authority to fight dockers in court after unions extended industrial action into a third month.
- OSG upgraded
Bear Stearns analyst lifts OSG rating after the US tanker owner's earnings beat expectations.
- OSG America posts $3.6m
OSG offshoot's six weeks in operation in the fourth quarter lead to $3.6m in profits.
- Shipbuilding losing its Zhang
Dalian vice-president says yards are bracing themselves for the end of the newbuilding boom.
- Attica to swallow Blue Star
Greek ferry owner to absorb separately listed subsidiary, but no share exchange ratio yet decided.
- Jinhui: 'further orders on ice'
Big-spending owner will not add to its bulging orderbook unless exceptional opportunity arises, vice-president says.
- Gloom for Global
Malaysian tanker owner hit by lower rates as profits and revenues droop in 2007.
- Ship sale not enough for Jutha
Thai multipurpose owner sees 2007 profit slip despite gains from asset disposals.
- Tax whacks Farstad
Norwegian offshore owner feels punch of new taxation regime as annual profit gets floored.
- Bulkers booming for Jinhui
Big spending owner sees full year profits jump 73% as charter rates send turn-over into orbit.
- Solstad suffers tax turmoil
Norwegian offshore ship player's 2007 profit clobbered by changes to tax regime.
- Eidsiva blown off course
Rudder lost in Japanese typhoon and engine failure ratchet up operating costs at Norwegian ro-ro and car-carrier owner.
- GEM orders aframax double
Samsung to build two high-spec tankers for Dubai owner to capitalise on Middle East trade to the west.
- GE bucks the trend
New tonnage sold by Indian owner which has been cashing in on older ships for the past year.
- Tax, costs eye-openers at REM
Fourth-quarter loss for Norwegian offshore owner but annual profit and revenues wide awake.
- Rieber digs deep
Oslo-listed owner snaps up subsea operator Scan Mudring while posting bigger 2007 profit.
- Strategic adds three more
Australian yard wins repeat order for offshore service ships from Indonesia's Baruna Raya.
- Numbers up at Austal
Interim profits jump over 50% at Aussie fast ferry specialist, but cancelled US deal may hurt in 2008.
- Costly half-year for PDZ
Operating expenses push down interim profit at Malaysian boxship owner.
- Profits halve at Halim
Malaysian boxship and tanker operator hit by drydockings, costs and currencies in fourth quarter.
- Good start for Aker Philadelphia
US shipyard increases 2007 profit following split from shipowning arm Aker American Shipping.
- Lamnalco persists with bid
Towage and marine terminal services outfit will continue to pursue merger, despite Smit saying no.
- Narrow squeak for Petrojarl
Teekay's Oslo-listed FPSO owner scrapes into profit for 2007, but costs still hurting.
- MISC plans PTP stake
Malaysian liner operator plans to invest in domestic container terminal Port of Tanjung Pelepas.
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| FEBRUARY 27, 2008 |
- Emirates Shipping Line ready to double capacity
- Value of China ocean trade up 21.1% in 2007
- MSC announces new service to Central America
- Lufthansa beats 2007 profit target
- Third runway at Hong Kong airport to be studied
- Host of new freight rail terminals in India's rail budget
- Clinton, Obama spar over NAFTA
- China trade surplus won't be stopped
- Indian logistics firm ties up with parcel giant GLS
- Agility buys Madrid, Barcelona activities of Combalia
- RILA selects Jones to lead asset protection
- Geodis sees profit rise of 11% in 2007
- FMC reviews 20 OTI license applications
- Lowenthal container tax bill on the move again in Calif. Legislature
- Stevedore sues over Matson Hawaiian docker hirings
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| FEBRUARY 27, 2008 |
- 2007 a strong year for Transatlantic
A record high operating result of SEK 281 million (EUR 30.1 million) is highlighted when the Swedish and Skärhamn-based shipowning/ship operating company Transatlantic closes its books for 2007. All divisions show positive results, led by offshore with ...
- Wani Will salvaged on Bornholm
The Norwegian owned coaster Wani Will has been salvaged from the stranding position outside the port of R'nne on Bornholm. The operation went smoothly after some 17 tons of marine diesel oil were pumped ashore and with the help from ...
- King of Scandinavia out of service after accident
DFDS's passenger vessel King of Scandinavia will be out of service the rest of this week after an accident last Friday in Newcastle. During the storm last weekend, the King of Scandinavia was blown from its berth in Newcastle. The ...
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| FEBRUARY 27, 2008 |
- Bunker market report from Praxis
- Bunker prices pulled higher by crude
But demand in bunker hubs remains weak.
- Crude down from record on US stock data
Weekly DOE report shows continued increases in US oil inventory, sending prices down from new all-time highs.
- Barge operators in 'impossible position'
Dutch association for independent suppliers repeats call for standard contract.
- Q4 profits boosts Chemoil's full year result
Group's total assets nearly doubled during 2007, but annual profits slump.
- Three new traders for O.W. Bunker UK
Former BP employee joins company today.
- Operations starting at new Fujairah terminal
Chemoil joint venture has carried out is first cargo discharge.
- ARA market firmer following crude gains
- Japan bunker firm buys Korean cargoes
South Korean refiners quoting higher premiums for bunker grade cargoes on tight supplies.
- Hong Kong supply tightness to ease
Cargoes of 180 cst material expected this week and next.
- Crude oil continues to climb
Crude oil prices above $100 per barrel but bunker markets soften.
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