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| OCTOBER 29, 2008 |
Shipping News
- New Jurong Port terminal a boost for lighter operators
SINGAPORE'S lighter and ship-chandling operators now have bigger and better facilities to work from with the opening of the new Penjuru Terminal at Jurong Port.
- UniSIM, logistics body to offer degree course
SIM University (UniSIM) in collaboration with the Singapore Logistics Association (SLA) is offering a dedicated logistics degree programme, the only one to be offered by a Singapore university and which is dedicated to a comprehensive study of logistics and supply chain management.
- China iron ore demand down: Vale
BRAZILIAN iron ore giant Vale confirmed a significant slowdown in Chinese demand, underlining current weakness on the key Brazil-China drybulk route.
- Going transparent to survive credit crisis
Strait Talk
- Enthusing the next generation
AS MARITIME Week disappears astern, perhaps now is a good time to reflect on the fundamentals of being a maritime centre or shipping hub or shipping nation. The exact term doesn't matter; what does matter is an understanding that, to a significant extent, Singapore depends on the sea and shipping.
Motoring
- Porsche offers benchmark warranty to beat grey imports
AUTHORISED Porsche distributor Stuttgart Auto has rolled out Singapore's longest maintenance and warranty package. And its target is not other premium marques but its own brand. It aims to beat parallel imports by offering customers something they cannot get elsewhere - 'peace of mind'.
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| OCTOBER 29, 2008 |
- MOL quarterly profit up 30pc, but outlook darkens 7pc
- Senator Lines adds capacity to Europe-S America
- Warships deploy in the Gulf of Aden as NATO makes war on piracy
- Samudera receives 2nd 1,740-TEU newbuilding from China
- Transits slow through Panama Canal during lock repairs
- India proposes rail freight service for Bangladesh boxes
- EU plans to combine liner shipping consortia market shares
- Seattle Port sees box declines mount in September
- Best Air starts Singapore-Dhaka service from Changi Airport
- Cargo 2000 gains Hong Kong's AAT membership
- Shenzhen ceremony marks UPS Asia air hub shift from Philippines
- United Airlines starts Washington-Dubai service
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| OCTOBER 28, 2008 |
- Widdows warns of large scale capacity reductions
- Air France-KLM issues results warning, expects profit
- AAAE/IAAE conference opens today in Greece
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| OCTOBER 28, 2008 |
- Braemar still on a roll
- Netherlands signs Wreck Convention
- Heavy lift cargo goes over the side
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| OCTOBER 28, 2008 |
- Hawaii Superferry to delay deployment of second ship
- Progress reported in Faina negotiations
- Royal Caribbean reports record earnings but weak bookings
- Economic downturn won't end crew shortages
- Northern Offshore cancels deal to acquire two Transocean semis
- Heavylift ship loses liftboat
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| OCTOBER 28, 2008 |
- Record rig costs will jeopardise deepwater oil projects
OFFSHORE owners urged to lower prices as developers see their profits fall this quarter.
- Bargains abound for blue chip drillers
- Britannia troubles put Golden Ocean at risk
GOLDEN Ocean's net outstanding capital expenditure set to rise if struggling dry bulk owner cancels panamax newbuildings order.
- Ship order cancellations shrouded in secrecy
LACK of clear details make it difficult to analyse the forward orderbook.
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| OCTOBER 28, 2008 |
- China, Russia finally close pipeline deal
RUSSIA'S pipeline company Transneft has agreed to complete a pipeline between southeastern Siberia and Daqing in northern China
- US Senator Ted Stevens convicted
ALASKA Senator Ted Stevens has been convicted of lying about gifts from wealthy friends and contributors
- Kroes demands early Poland decision
EC COMPETITION chief Neelie Kroes has given Poland less than a week to accept her proposals on the future of the bankruptcy-threatened shipyards of Gdynia and Szczecin
- Royal Caribbean confirms fears
ROYAL Caribbean Cruises conceded today that "there has been a significant deterioration in new bookings due to economic and financial turmoil".
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| OCTOBER 28, 2008 |
- Court asked: Deny port trucks filing delay
Truckers want federal appeals court to deny request from LA-Long Beach ports for delay in filing responses in clean-truck truck concession case
- MOL quits TSA, CTSA
- Changes threaten US intermodal route: Report
- November launch for LA-Long Beach truck fee system
- New York-New Jersey terminals to close for Election Day
- US plans pilot program to bar unsafe imports
- Hanjin mulls Jaxport deal
- GAO report criticizes validated end user program
- Cargo thieves busy on weekends, insurer finds
- Loss for China Shipping
- Antwerp boxes gain 9%
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| OCTOBER 28, 2008 |
- Eimskip wins time as Iceland hikes interest rates to 18%
- Marseilles Fos signs finance deal with BEI
- Somalia pirate attacks 'unprecedented'
- Salvors call for preservation of emergency response after boxvessel refloated
- CSCL in the red for Q3
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| OCTOBER 28, 2008 |
- Brit Bulk blowout
Britannia Bulk shares plummet by nearly 86% as shipping stocks close split in rallying US markets.
- Britannia in peril
Arvid Tage-led bulker player says it has "severe financial difficulties" and warns it faces bankruptcy if banks pull the plug.
- Exmar profits dip
Belgian gasship owner reports a 2.7% slip in nine-month operating profits after VLGC strength was short-lived.
- Double delay?
Solstad Offshore warns that two 300 ton bollard pull AHTS newbuildings may not be delivered on time.
- Fund in LNG slice
US hedge fund reveals 14.6% stake in Texas LNG terminal developer Cheniere Energy.
- GSL bags CTO
New York-listed containership owner taps British Marine's technical chief, Vivek Puri.
- 'Dramatic' change
Richard Fain-led Royal Caribbean posts record third-quarter profits but sees a sudden slump in its operating environment.
- Seismic shift
Norwegian geophysical player Wavefield Inseis says fourth quarter to be tougher than it thought.
- Insurer's net sinks
New York's Navigators Group sees profits plunge by 96% after Hurricanes Ike and Gustav.
- CMES soars
Higher rates earlier in the year boost Chinese tanker and bulker player's nine-month profit figure.
- Finnlines fades
Finnish ro-ro owner's nine-month profit ebbs on higher costs, despite passenger and freight numbers rising.
- Nordic backtracks
Steen Bryde-led tanker owner sticking to shipping after binning last week's plan for outside investment.
- Glitnir no more
Cleaves Shipbroking buys back bank's 50% share in shipping and offshore financing joint venture, led by Per Olav Karlsen.
- CSAV head dies
Chilean businessman and liner operator chairman Ricardo Claro suffers heart attack at 74.
- CSSC stronger
Shanghai-listed shipbuilding giant improves third quarter earnings as deliveries rise.
- Costs hurt GSI
Guangzhou Shipyard manages to pile on sales as efficiency improves but costs send profit down.
- Boxship free
Multraship and URS refloat PIL container vessel that grounded in River Scheldt carrying hazardous cargo.
- Full circle
Maersk tanker forced to complete 360-degree turn to avoid MST-managed bulker in Dover Strait, probe reveals.
- Marsh not down
Braemar's chief Alan Marsh "not as negative" on market as others but high dry-bulk rates were "nonsense".
- Lights out
German owner fined over lookout failure leading to clash between general cargoship and UK light ship.
- Delphis gets cash
Alexander Saverys-led feeder line scoops breakthrough loan from two banks to cover six vessels on order in Germany.
- Braemar surges
Alan Marsh-led broker piles on profit in first half but warns dry-bulk rates will not reach previous highs and global recession 'imminent'.
- Dof drops price
Norwegian shipowner lowers offer for Dof Subsea for a second time as long-running takeover sage continues.
- Back in black
Fred Olsen's FPSO operation produces nine-month profit turnaround as fleet fully employed.
- Fifth to fail
One in five deepwater rig newbuildings will be chopped or held up by the credit crunch, analyst warns.
- Daunting task
Divers admit they will never recover anywhere near the 515 bodies still missing after the Princess of the Seas sinking.
- STX suffers
Korean owner STX Pan Ocean hurt by currency movements as third quarter profit falls 15%.
- Rig deal off
Credit crunch stops Fredriksen-backed Northern Offshore buying two semi-submersible drilling units.
- No TB at GB
Grand Bahama Shipyard now free from deadly disease after four workers tested positive.
- Lost at sea
Jack-up liftboat falls overboard from heavy lift vessel in Atlantic after rolling in rough weather.
- Ferry bail-out
Norwegian government proposes higher subsidies to protect Hurtigruten's coastal cruise-ferry business.
- NATO one for one
North Atlantic Treaty Organisation force escorts first World Food Program ship into Somalia.
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| OCTOBER 28, 2008 |
- Host of problems confront liner industry
- Big ships in Europe/South America trade
- China approves Sinotrans, CSC merger
- Stena buys slice of Paradise Tankers
- MSC changing intra Asia feeders
- Construction begins on UPS's China hub
- Cargo B to lease 747-400 freighter from Nippon Cargo
- UPS promotes hydraulic hybrid vehicle
- GAO calls on Commerce to suspend VEU program
- EU version of Lacey Act aimed at illegal timber harvests
- Bush remains committed to rebuilding Georgia's economy
- Sorrow leads supply chain acquisition startup
- Shoe industry seeks repeal of import tax
- Obama reinforces commitment to infrastructure
- Tradeteam secures $220 million Coors deal
- Stobart to build $436 million transport, warehouse center
- Savi teams with Litium in Scandinavian push
- Gulfport commissioners approve expansion plan
- Ports America starts Bayonne ro/ro operation
- Marseilles Fos gets loan for terminal expansion
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| OCTOBER 28, 2008 |
- Lindenau got its loan
The insolvent shipyard Lindenau Werft in Kiel has received a EUR 28 million loan from HSH Nordbank for the building of a product tanker. According to Lloyd's List, the shipyard is also in negotations with another German bank for financing ...
- Large loss for Gard
The P&I club Gard reports a USD 49 million deficit for the first half of 2008, the reasons being the current claims environment and a volatile finance market. The club's combined net ratio was however better than budgeted at ...
- Royal Caribbean stops fuel surcharges
Royal Caribbean Cruises announces that the company's fuel surcharges no longer will apply to new Royal Caribbean International, Celebrity Cruises and Azamara Cruises. The agreement covers bookings made on or after November 10, 2008, for sailings that depart on or ...
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| OCTOBER 28, 2008 |
- Fuel saving technology nets award
Icelandic company recognised for demonstrating 'significant reductions'.
- 'Green' award for emissions-reducing technology
Icelandic company recognised for demonstrating 'significant reductions'.
- Bulk operator on the brink
Issues Q3 profit warning, says 'severe financial difficulties' could lead to liquidation or bankruptcy.
- Royal Caribbean forecasts lower fuel costs
Surge in Q3 expenditure but some relief expected.
- Declining bunker prices 'positive' amid crisis
Parcel tankers have fared better than other shipping segments, but sector is not 'immune to the crises'.
- DNVPS speaks up in MARPOL sample debate
Hits back at claim testing agencies are causing confusion among ship operators.
- Rotterdam market quiet at midday
- Singapore bunkers fall below $300
Some suppliers unwilling to offer Tuesday due to low prices.
- NYK keeps profit forecast as bunkers slip
Japan's shipping lines NYK, Mitsui and K Line lower bunker price forecasts.
- Acute shortages persist in Hong Kong
Product shortages expected to ease from early November.
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