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| APRIL 30, 2008 |
Shipping News
- TBS Int'l not affected by US slowdown: CEO
Shipping company TBS International Ltd has not been affected by the slowdown in the United States as strong demand from China and other emerging economies continues to help the business, the company's chief executive said.
- Mozambique plans ports upgrading
Mozambique plans to invest US$900 million to upgrade two of its main ports as part of a drive to become a top regional shipping centre, the transport minister said yesterday.
- Daewoo Shipbuilding to ramp up production
Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipyard, said it will invest 163.2 billion won (S$223 million) to expand production of vessel parts at its South Korean yard. The investment at its yard in Okpo, which manufactures pipes and other components, will be made until March 2010, the Seoul-based company said in a regulatory filing yesterday. No details were given on the increased production capacity.
Strait Talk
- Safer shipping a lasting legacy of the Napoli
A YEAR ago last January, the UK-flag container ship MSC Napoli started to crack in two as she pounded through one of that winter's worst storms in the Western English Channel. As is now well known, the 4,419 TEU ship eventually ran ashore on the English coast at Branscombe Bay.
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- Liner conferences overcharge on BAFs, says ESC commissioned research
- Tianjin launches port regulations, encourages investments
- China to invest US$171 million in Tibet's Naqu railway logistics centre
- Beibu Gulf, Yantian to develop terminal in Fangchenggang
- Russia's Port of St Petersburg port renamed 'Big Port'
- India's professional dredgers' shortage threatens container business
- Qatar and Rotterdam launch strategic co-operation deal
- Youship launches new service from south China to Europe
- Kuehne + Nagel opens logistics centre in Malaysia
- Great Wall opens B747-400 Freighter flights from Shanghai to Seoul, Seattle, Chicago
- Price competition and fuel costs put Shanghai Airlines into loss
- Singapore's Changi Airport named Asia's best for the 22nd year
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| APRIL 30, 2008 |
- Cargo Partner begins operations in Aurangabad
- Committee constituted to study feasibility of moving coal by waterways
- Ahoy, Captain, we need 1,000 officers!
- Arshiya International's Q4 profit surges by 82 pcs
- DP World Cochin celebrates first customer day
- Kandla Customs installing box scanner at port
- Major Ports float global tenders for dredgers
- PAC asks MoS to keep off Port Trusts' operational matters
- Ambuja Cements' Cochin Port terminal may be ready this years
- Export edible oil now & import double later, suggests SEAI
- RBI hikes CRR by 25 bps, repo rates unchanged
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| APRIL 29, 2008 |
- Swiss names Bernd Bauer as director sales and marketing Europe
- Hamburg Süd/Hapag-Lloyd announce first departure of "new" Epic service
- Continental Airlines drops merger talks with United
- Eurasia Rail Logistics joint venture founded
- Ceva Logistics acquires Spedimacc in Italy
- Tiaca annual executive conference and AGM, 12-14 May
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| APRIL 29, 2008 |
- Human resources "biggest challenge" for shipping
- International owners boost KR
- MOL donates simulators to Oman
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| APRIL 29, 2008 |
- Egyptian shipowner fined $7.2 million in pollution plea deal
- Desgagnés orders newbuild in Croatia
- OSG reports strong first quarter
- MMS approves development plans for FPSO
- Bollinger Shipyards wins SCA safety award
- The Coast Guard Authorization Act explained
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- Kolding does not rule out Hapag bid - but not priority
MAERSK Line chief says possibility of bidding for Hapag-Lloyd should not be excluded, but is not top of wish list.
- Hapag-Lloyd sale a 'one-off', says Seaspan's Gerry Wang
- Nordea and DnB Nor shipping loans hold steady
MIXED fortunes for Scandinavian banks, but lending to shipping increase in first quarter.
- Clarkson doubles Russian litigation provision
CLARKSON sets aside further '8m against claims by Sovcomflot and Novoship after discovery of 'new evidence'.
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| APRIL 29, 2008 |
- Clarkson doubles cover against suit
SHIPPING services group Clarkson has more than doubled its provision against claims from Sovcomflot and Novoship
- Cairo company fined for dumping
CAIRO-based National Navigation (NNC) has been fined $7.25M after admitting several of its chief engineers and crew members dumped oily waste from six ships off the US Pacific and Gulf coasts
- US, France pose Resolution on Somalia
THE US and France, backed by the UK and Panama, yesterday introduced a draft Resolution to the UN that would rally maritime nations to tackle piracy off Somalia.
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| APRIL 29, 2008 |
- Tropical Shipping acquiring Caribtrans
Ocean carrier deals for provider of LCL and FCL consolidation services from the United States to the Caribbean and Central America.
- Expand U.S.-flag fleet, says ARRC's Ebeling
- Fesco boosts earnings
- BNSF profit up 30%
- Ocean traffic up but Panalpina earnings dive
- WWL names ro/ro ship
- American business in China argues against U.S. protectionism
- Inttra appoints CIO
- Aloha Airlines shuts down cargo operations
- Barge trio for CMA CGM
- India plans Europe trade pact
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| APRIL 29, 2008 |
- Mandatory weighing of boxes: 'A disaster' for terminal operators
- Geodis Wilson opts for dual leadership
- German duo's EPIC enhancement
- EWL opts for UK port change
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| APRIL 29, 2008 |
- Coast Guard to the rescue
Footage shows the medevac of an 83-year-old Royal Caribbean passenger off the coast of North Carolina.
- US requires LRIT
Coast Guard issues final rule requiring ships to electronically transmit identity and position.
- Double Hull plunges
Following a share sale announcement, Double Hull Tankers sees its shares drop by 13.3%, as the shipping sector feels a bearish day on Wall Street.
- TCE-lation
Morton Arntzen-led Overseas Shipholding Group trumpets highest-ever TCE revenues as profits jump by 33%.
- Boxships booming for CCHC
A surge in domestic container shipments helps Tianjin-based giant pocket $878m in the first quarter of 2008.
- VLGCs dampen Exmar
Belgian gasship owner's profits drop as the very large gas carrier market and US dollar exchange rate eat away earnings.
- Suez pile-up as ship grounds
German operator of multi-purpose vessel remains mum on reports of grounding in Egyptian waterway.
- Navios' estimate cut
Lazard Capital Markets lowers US-listed bulker owner's per-share earnings forecast by 19%.
- US insurer's profit jumps
First-quarter profits at Nasdaq-listed Navigators Group swell by 18% even as gross premiums drop.
- Cosco Pacific profits surge
Chinese terminal operator sees 17% profits jump as container throughput grew.
- Ocean Rig back in black
Economou takeover target returns to profitability but falls short of market expectations.
- Ferry officer appeals conviction
Strait Shipping mate/master denies responsibility for not reporting near-grounding in New Zealand.
- Dyrhaug fills the gap
Green Reefers vice chairman steps up to top role after Toril Eidesvik becomes temporary CEO.
- Desgagnes orders in Croatia
Kraljevica to build Deltamarin- designed vehicle/container carrier for Canadian owner.
- Clarkson's new '8m provision
"New evidence" forces London broking shop to more-than double provision in legal wrangle with Russian owners.
- Fulford-Smith wants closure
Clarkson chief says travails with Russian owners best put behind it as share price continues slow fall.
- Fesco in the money
Russian boxship owner plans share sale to fund acquisitions as 2007 profit rises 58%.
- BW Offshore gets equal split
Oslo-listed FPSO specialist bags $1.5bn loan the day after its gasship sibling got a cash injection from major shareholder.
- Bullish about bulkers
Apeejay Shipping's Mahapatra is not all doom and gloom about the newbuilding order backlog
- Brostrom barely breaks even
Weak tanker spot market and soaring expenses send first-quarter net profit plunging at Swedish owner.
- Fredriksen holds all the aces
Seadrill is in a win-win position as it battles for control of Scorpion Offshore, analyst says.
- Pay boost for CSC workers
Caspian Shipping workers to pocket extra 30% to mark birthday of former Azeri leader Heydar Aliyev.
- Bohai wins Sasco double
Chinese yard to build two boxships for Russian owner for delivery from 2010.
- Karachi yard building again
KSEW starts vital work on tanker/utility ship for Pakistan's navy as top brass turn out.
- Aker American losses widen
Lower US interest rates hurt Jones Act owner as first quarter profits slip further into the red.
- Daewoo puts money into parts
Korean shipbuilder to expand Okpo plant further with $164m investment.
- TMM deeper in red
Spiralling costs and higher debt double loss in first quarter at Mexican owner eyeing tonnage growth.
- Deficient duo held in Canada
Gulf Management OBO and Konvoy Maritime general cargoship the only ships on March detention list.
- Ferry jumper rescued in Solent
UK Red Funnel vessel saves man who leapt from sistership on run to Southampton.
- Numbers up at NOL
Singapore liner outfit reports another trading period of double-digit growth in volumes and rates.
- Cosco details bulker order
Chinese shipping giant provides more details about recent orders for nine supramax bulkers.
- APM ties up port deals
Maersk port operator assumes control of Brazilian facility and inks Vietnam construction deal.
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| APRIL 29, 2008 |
- DHS turns attention to small vessel threat
- APL reports volume, revenues increase
- INTTRA expands senior management team
- AirBridgeCargo starts Budapest/Moscow flight
- BNSF's intermodal revenue climbs as volumes drop
- Genesee & Wyoming buying Mississippi railroad
- Rail service aims to cut Germany/Poland transit time
- BDP launches project logistics division in Singapore
- Schneider Logistics companies operate as one
- CITA: Honduran sock imports cause "serious damage" to U.S. makers
- Kleinmayer to head integration of YRC Chinese logistics acquisition
- NCBFAA will ask FMC to end rate tariff publication
- COSCO Pacific earnings up 17%
- APM sells stake in Karachi terminal to DP World
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| APRIL 29, 2008 |
- Finnish shipowners join forces
The Finnish shipowners' associations Finlands Rederif'rening, Fraktfartygsföreningen and Ålands Redarförening has agreed on a merger in a new organisation named Suomen Varustamot ry ' Rederierna i Finland rf form 1 June 2008. The new organisation will have offices in Helsingfors and ...
- Åbo'Stockholm train ferry service secured
The railway ferry service between Finland and Sweden has been secured since the railway operators Green Cargo and VR has signed an agreement with Tallink Silja, that reportedly is selling its stake in the jointly owned SeaRail. This company markets ...
- Norway to build new polar research vessel
Rolls-Royce has been given the task to design a new polar research vessel by the Norwegian Institute of Marine Research. The vessel will be designed to operate in up to one metre thich ice in Arctic and Antarctic waters ...
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| APRIL 29, 2008 |
- Bahamas terminal sale completed
Acquisition announced with Vopak taking naming rights, expansion planned.
- Tanker operator sees operating costs soar
Bunker prices and a weak US dollar hits Brostr'm's bottom line.
- Weak US dollar threatens smaller bunker players
Bunker industry observer says traders operating cash is 'disappearing'.
- Rotterdam market MDO still very tight
- Russian oil giant forms new bunker arm
Rosneft has set up RN Bunker as a wholly owned subsidiary.
- Refinery upgrade will pressure fuel oil supply
Korean's SK Energy details plans for new hydrocracking unit. Players warn regional fuel oil market will tighten.
- Titan's credit ratings downgraded
Standard & Poor's expects company to remain under 'financial pressure' over the next 12 months.
- Aegean to boost European fleet
New bunker tanker to commence delivery in Antwerp in June.
- AADA to hike bunker surcharges
Members of the Asia Australia Discussion Agreement agree to up surcharges on China/HK-Australia routes.
- Singapore suppliers warn of pilot shortage
Ships now spend more time waiting for their bunkers in Singapore.
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