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| OCTOBER 28, 2008 |
Shipping News
- Mitsui, K-Line cut full-year profit forecasts
Mitsui OSK Lines Ltd, operator of Japan's largest fleet of iron-ore ships and Kawasaki Kisen Kaisha Ltd, Japan's third- largest shipping line, cut their fiscal full-year profit forecasts as shipping rates drop.
- Bulk rates fall for fifth week as demand drops
The Baltic Dry Index, a measure of shipping costs for commodities, fell for a fifth week in London, the longest losing streak since January, on slumping demand for deliveries of iron ore, coal and steel.
- Private security firms join Somali piracy fight
Blackwater Worldwide and other private security firms - some with a reputation for being quick on the trigger in Iraq - are joining the battle against pirates plaguing one of the world's most important shipping lanes off the coast of Somalia.
- Taiwan Maritime calls rumour on its finances 'malicious'
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| OCTOBER 28, 2008 |
- 'K' Line first half profit up 14pc to US$4.9 billion
- Wan Hai, Yang Ming shelve plans for new services
- China's logistics park boom gives way to rationalisation
- World's biggest cross-sea bridge opens at Hangzhou Bay
- Tianjin port puts its Dezhou inland port into operation
- Yingkou port launches box rail service to Europe
- Two to 8-year sentences seen for Horizon, Sea Star price-fixers
- Singapore's Mac-Nels stays upbeat despite industry faces slump
- CN quarterly profit of US$438 million rises 14pc
- Widdows praises grads at Rotterdam's Erasmus University
- Tianjin AirCargo Terminal joins Cargo 2000
- Singapore hosts Aerodrome Emergency Planning seminar
- Bush signs law allowing US military cargo to be trucked
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| OCTOBER 27, 2008 |
- Gast to succeed Meves at Hamburg S¨d
- Qatar Airways launches new Sialkot cargo flight
- Wincanton takes over ELI
- UPS revenues up, profits down
- Norfolkline to use Kewill transport software for short sea traffic
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| OCTOBER 27, 2008 |
- UK set include shipping in CO2 cut targets
- Blackwater "to send anti-piracy ship to Gulf of Aden"
- CMI calls for places of refuge convention
- "Marginal" drop on Panama Canal transits
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| OCTOBER 27, 2008 |
- Georgiopoulos set to collect $30 million
- Tidewater reports increased earnings
- Todd Pacific gets $3.9 million USCG award
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| OCTOBER 27, 2008 |
- Port Metro Vancouver ends Roberts Bank ocean disposal
- Washington governor talks trade at Tacoma international trade lunch
- Oregon Market at Portland Airport celebrating 20th anniversary
- Panama Canal Authority releases fiscal year metrics
- NOAA announces plans to update research vessel fleet
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| OCTOBER 27, 2008 |
- Bankrupt Lindenau secures $34m funding
HSH Nordbank approves loan for construction of double-hull tanker despite initially saying no.
- Lindenau yard falls prey to credit crisis
- CSCL slides into the red
CHINA Shipping Container Lines sank into the red in the third quarter and industry analysts remained gloomy about the firm's future prospects.
- Brussels deaf to box lines consortia rules protests
EC stands firm against pressure from container lines to grant a formal green light to alliances that have a large market share.
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| OCTOBER 27, 2008 |
- Royal Caribbean cuts fuel surcharge
ROYAL Caribbean has halted its fuel surcharges, following the lead of fellow cruise line Carnival
- NGV wins Nigeria oil tender
MALAYSIAN-based shipbuilder NGV Tech has won a contract to build 34 double hull platform supply vessels for Slok Shipping of Nigeria
- Vale CEO warns on China
BRAZILIAN iron ore giant Vale confirmed a significant slowdown in Chinese demand, underlining current weakness on the key Brazil-China drybulk route
- US Shipping renegotiates credit
JONES Act operator US Shipping Partners has renegotiated its credit terms to stave off covenant defaults, while also bidding goodbye to former chairman Paul Gridley
- Pemex waffling on ship charters
CASH-strapped Pemex, Mexico's national oil monopoly, is waffling on a proposed bareboat charter that intermodal giant Grupo TMM had counted on as part of its recovery strategy
- Liberty losing patience
LIBERTY Shipping has issued a stern letter to the board of NYSE-listed International Shipholding expressing impatience with sluggish deliberations on Liberty's purchase offer
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| OCTOBER 27, 2008 |
- MOL and "K" Line see weaker outlook
Two of three Japanese box shipping lines revise forecasts downward despite increased profits and revenue in latest quarter.
- $1B expansion for Gulfport
- Obama backs funding for transportation infrastructure
- CSAV Group plans upgrade for EC South America
- G7 trade drops
- DHL parent cuts outlook
- Liberty raises stake in ISH
- TNT Q3 net crashes
- SCI liner segment weaker
- Global airfreight off 7.7%
- Maersk Line cuts Asia-Europe capacity by 10%
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| OCTOBER 27, 2008 |
- ICG warfare resumes
- EC official sets out stall on consortia rule
- Increased supply chain risk from downturn
- Japanese carriers up at halfway stage
- Dunkirk ups crane capacity
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| OCTOBER 27, 2008 |
- Sell hurts Horizon
US containership owner's shares plunge after Goldman Sachs downgrade, as shipping stocks fall amidst lower US stock markets.
- TMM bids 'null'
Petroleos Mexicanos strikes down products tanker charter effort for a second time.
- War bonus deals
UK owners set to follow Danes, Norwegians and Dutch in agreeing danger money for crews off Horn of Africa.
- Seafarers' prayers
Web TV brings a glimpse of a worship service held to observe World Maritime Day.
- $30m for Peter G
General Maritime boss set to earn a multimillion-dollar payday as he steps aside amid Arlington Tankers merger.
- USCG gets smiles
Coast Guard chief talks with TradeWinds Web TV about efforts to improve agency's attitude toward mariners.
- Staying home
Carnival Corp nixes a plan to reposition a Florida-based cruiseship in Europe and instead focuses on "close to home" voyages.
- Vale's dry run
Brazilian miner clearing out iron ore cargoes with a capesize market swoop, but are there any buyers?
- Canal transits flat
Panama Canal tanker and passengership transits increase while the US economy leads containerships to slip.
- HSH's lifeline
Insolvent German yard Lindenau wins EUR 28m line of credit from domestic bank to build tanker.
- Gard in the red
Top P&I club to seek 15% general increase premium as $49m half year loss takes a bite out of free reserve.
- Record smashed
Maersk Supply will make $1.41m from four days work after its AHTS Maersk Attender was fixed at NOK 2.5m per day ' shattering the record rate in the North Sea.
- CSCL slumps
Hong Kong and Shanghai-listed Chinese container line's losing streak continues with loss in third quarter.
- Ulf in Paradise
Ulf Ryder-led tanker owner Stena Bulk returns to dry-bulk market with 35% slice of Greece's Paradise Tankers.
- 'Dilatory tactics'
Liberty Shipping boss Philip Shapiro lashes out at International Shipholding Corp for delays in takeover bid response.
- Helping hands
Korea's Hanwha Group in talks with European owners over funding of Daewoo Shipbuilding takeover.
- Slice unveiled
Insurer Alleghany Corp emerges with a 7.1% slice of the Houston-based offshore vessel owner Trico Marine Services.
- Crew crisis stays
Seafarer shortage will continue even if only a third of ships on order are delivered, warns Ole Stene.
- Tidewater triumph
New York-listed offshore owner sees second quarter profit rise 10% to squeeze past market expectations.
- Boxship attacked
Latest attack on Singapore-owned vessel carried out by Somali pirates but in Kenyan waters.
- Surcharge binned
Royal Caribbean ends fuel supplement on future bookings following drop in oil price.
- Tanks a million
Kenya will not cough up for the release of its tanks onboard the Faina, leaving pirates to ditch them as they please, spokesperson says.
- Stocks battered
Cosco, Pac Basin and NOL all clobbered as Asian shares suffer more pain Monday.
- Sales buoy SCI
Indian state-owned shipowner sees second-quarter profit leap over 50% as revenues surge.
- Russian in
Domestic interests could step in to revive Stella Lines' defunct service from St Petersburg to Helsinki.
- K Line prospers
Focus on cost reduction boosts Japanese giant's interim result, but it cuts annual forecast as rates start to fall.
- Odfjell exceeds
Dan Bernt Odfjell-led owner beats forecasts in the third quarter but has a bleak outlook as the economic storm clouds gather.
- NYK boost
Japan's biggest owner pushes up first-half profit thanks to record bulker markets, now a distant memory.
- More for MOL
Another Japanese big three company posts higher six-month profit but cuts annual forecast in worsening markets.
- Ro-ro tragedy
Three fishermen killed off Japan after small trawler involved in clash with much larger cargoship.
- Going to Gaza
A new non-profit passenger ferry service from Cyprus to the Palestinian territory is being planned.
- Ship sinks, 1 dead
Search on for missing crew member as master dies after ship sinks off Cape Verde Islands.
- IHI looks up
Japanese yard makes positive swing in second quarter and now expects profitable first half.
- Blustery reception
Shipping figures in a spin as UK wind farm plans whip up safety fears.
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| OCTOBER 27, 2008 |
- Japanese lines report higher profits, cautious about second half
- Liberty bemoans International Shipholding's "dilatory tactics"
- Horizon: Revenue up, antitrust costs reach $7 million
- Maersk reducing Asia/Europe capacity
- CMA CGM 11,000-TEU ships makes maiden call at Yantian
- Emirates SkyCargo to kick off LAX service
- DHL workers slain in Kabul by security guard
- Cargo trains linking North and South Korea running mostly empty
- Former DOT official: Simplify infrastructure financing rules
- Secret uranium shipment sees nuclear material return to Russia
- Fed taps transport industry for advice
- Panama Canal records dip in cargo volume
- Busan taking internal measures to combat economic gloom
- Ningbo volume up 17% through September
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| OCTOBER 27, 2008 |
- Stena Bulk takes control of Greek shipowner
Göteborg-based Stena Bulk has acquired 35 per cent of Greek Paradise Tankers. The total share value is USD 250 million and Stena Bulk will have commercial control of three tankers and two bulkers. The 2004-2005-built 73,500-DWT tankers ...
- Hurtigruten sells ferry and fast ferry operation
Hurtigruten ASA sells its ferry and fast ferry operation to Torghatten Nord AS, a wholly owned subsidiary of Torghatten Trafikkselskap ASA. The agreement concerns 45 vessels and 606 employees. The employees will be offered to join the new company. Four ...
- Christmas shopping in danger
The British Chamber of Shipping warns British consumers they could face shortages of goods under the Christmas shopping if merchant ships start to go round the Cape of Good Hope instead of passing the Suez Canal due the piracy off ...
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| OCTOBER 27, 2008 |
- Russia rejects calls to cut export duties
Crude and fuel oil export taxes to stay at current levels despite price fall in global markets.
- Rotterdam bunker prices slip to 19-month low
Prices down by over 60% since mid-July peak.
- Global bunker market report
- Fuel oil margins 'surprisingly strong'
Neste Oil reports strong Q3 for refining margins and shipping, but decline in retail.
- Climate change bill to include shipping
British greenhouse gas goals will 'take account' of global transport emissions.
- Middle East 'waking up' to fuel efficiency drive
Shipping's role in reducing carbon emissions on the agenda in region with growing maritime activity.
- Rotterdam barge market sees no activity
- Freight rates down as oil prices fall
Rates seen falling for routes between India and Europe and the US.
- Mundra gaining ground as bunkering choice
Mundra's monthly bunker sales outstripping combined sales from three refiners at Mumbai.
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