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| OCTOBER 31, 2008 |
Shipping News
- Falling freight rates to hit Thoresen Thai
Thoresen Thai Agencies (TTA), Thailand's biggest dry bulk carrier group, said yesterday that a sharp drop in freight rates in the wake of the global credit crunch will hit its results in the next two years.
- Keppel O&M invests more in training
DESPITE the current uncertain economic outlook, Keppel Offshore and Marine (Keppel O&M) is gearing up for the future by stepping up its training capacity, providing places for 3,500 trainees a year at its Keppel O&M Training Centre and raising annual investment in training to $23 million this year.
- United Air offers new baggage service
United Airlines is teaming up with FedEx Corp to ship a passenger's bag overnight for as much as US$358 a round trip, betting that some customers will pay the higher cost to avoid taking luggage to the airport.
- Mitsui, Kawasaki share prices up
- Hyundai Heavy Q3 earnings down 33%
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| OCTOBER 31, 2008 |
- EU conference ban prompts MOL to quit TSA and CTSA
- Worse to come, says NOL's Widdows, box ships to lay-up next week
- AADA bunker surcharge falls on China/Hong Kong to Australia trade
- CMA CGM's 11,000-TEU Vela calls at YICT in south China
- Chiwan Container Terminal launches Australian service
- Drewry sees US west coast faces losing Asia trade
- ASEAN leaders and China call for more open trade
- CEVA Logistics handles Ford parts in Sao Paulo
- Piracy soars in third quarter, says International Maritime Bureau
- Court quashes eco-challenge to South Carolina port development
- Air China blames Olympics, fuel hedging for first loss in 21 months
- Qantas to pay US$13 million fine for price-fixing air freight in Oz
- American Airlines Cargo joins IATA's e-Freight
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| OCTOBER 31, 2008 |
- China to implement 24-hr advance manifest rule for sea cargo from Jan. 1, 2009
- Dry bulk shipping sails into dire straits
- Sinking crude prices pull down freight rates to US, Europe by 40 pc
- SCI H1 net almost double
- Shippers call upon India, China to lead the way in implementing new maritime regulations in Asia
- Bunkering business booming at MPSEZ
- Q2 net profit doubles
- 10 dredgers will be deployed at Haldia Dock by December, assures KoPT chief
- Markets drying up! - Several job-oriented export sectors showing alarmingly negative growth
- Industrial, social activities in SEZs to get infrastructure status
- Halt FDI drain with softer taxes, suggests Ficci
- PM concedes growth will slow to 7.5 pc
- Panel suggests use of part of forex reserves to buttress kitty of banks' overseas branches
- Asian & EU leaders want quick, decisive action to end global financial crisis
- New Line projects: Railways fall short of target
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| OCTOBER 30, 2008 |
- Etihad appoints new regional cargo manager
- MOL to withdraw from Transpacific conferences
- Swiss feeling headwinds in Q3
- Fourteen potential partners in the running for SBB Cargo
- Pacer International reports good figures
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| OCTOBER 30, 2008 |
- Turkish bulker hijacked
- Double pay on UK ships in Gulf of Aden
- Bourbon's offshore revenues soar
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| OCTOBER 30, 2008 |
- OSG reports best quarter ever
- Bender to sell Tampa Bay stake to Chouest
- Kirby reports another earnings record
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| OCTOBER 30, 2008 |
- Port of Grays Harbor welcomes arrival of Westway Terminals Inc.
- Schnitzer Steel numbers break records during quarter
- FMC files complaint against LA/Long Beach truck program
- Mitsui breaking away from Transpacific agreements
- For-Hire Truck Tonnage Index falls during month of September
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| OCTOBER 30, 2008 |
- PIL and Wan Hai suspend Asia - Europe service
PACIFIC International Lines and Wan Hai Lines are suspending their joint Asia - Europe service, and chartering slots from Cosco Container Lines instead.
- Maersk Line tailors its services to meet demand
- Dry bulk vessel resales grind to a halt
THE DRY bulk second-hand sales and purchase market has dropped dead according to Asian operators and brokers.
- Distorted picture offers best view of the industry
WHILE most of the spate of third quarter results by European and US firms are still in the black, few expect that to be the case in the next quarter.
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| OCTOBER 30, 2008 |
- Unions, employers agree port reform
Le Havre portFRENCH unions and employers signed an agreement over the country's port reform project today, sealing an end to months of industrial turbulence at French ports
- Carnival to close Ocean Village
CARNIVAL Corporation has decided to phase out its UK-based Ocean Village brand over the next two years
- Riverboat fleet sale founders
THE SALE of US riverboat operator Majestic America Line has been stymied by the credit crunch, confirmed owner Ambassadors International
- Santos quarter totals defy global slump
SOUTH America's biggest handler of containers, Santos Brasil, has posted results for the third quarter that defied the global economic doom and gloom
- Eat smoke, pirates!
SPAIN'S air force has thwarted a pirate attack on a tanker by dropping smoke bombs on the pirate ship, the defence ministry said today
- FFA growth based on thinking small
DERIVATIVE markets have an enormous potential for growth, Ian Staples of Freight Investor Services told the Mare Forum in Amsterdam this afternoon
- Gulf Nav posts strong results
DUBAI'S Gulf Navigation has recorded profits of nearly 93M UAE dirhams ($25.3M) for first six months of 2008, a growth of 95% over 47.6M for same period in 2007
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| OCTOBER 30, 2008 |
- Port of Los Angeles says FMC suit won't stop implementation of trucks program
Port vows to maintain its licensing program for harbor trucking despite lawsuit seeking to block employee-driver requirement
- FMC's Brennan lone vote against LA trucks lawsuit
- Customs extends operations hours at Mexico land crossings
- Customs mum on 10+2
- Delta-NWA merger approved
- WTO rules for US in India liquor dispute
- Hamburg Sud names ship
- AAEI's Northcott resigns
- China Cosco Holdings profit increases 18 percent
- Hand on the helm
- New CEO for Fastfrate
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| OCTOBER 30, 2008 |
- Le Havre to significantly increase brown water transport
- Panalpina results blighted by Nigerian retreat
- CSAV chairman interred
- Capital projects and containers drive Transnet ahead at H1 08 stage
- Q3 intermodal surge for Canadian Pacific Railway
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| OCTOBER 30, 2008 |
- Seaspan still red
Vancouver-based boxship owner still posts a net loss thanks to interest rate swaps, but fleet growth lifts adjusted profits.
- Genco private?
Peter Georgiopoulos does not rule out taking his bulker owner private as financial crisis brings "tremendous opportunities" for acquisitions.
- Stocks stage rally
Horizon Lines, ISC and Genco Shipping make huge gains, leading shipping stocks to outperform a rise on US markets.
- ISC pays up
As it reports profits growth, Niels M Johnsen-led International Shipholding Corp starts paying shareholders a dividend.
- NYSE axes Brit
New York Stock Exchange suspends trading in troubled Britannia Bulk and says the company will be de-listed.
- Royal says adios
Royal Caribbean pulls ship out of South America as moves toward closer-to-home sailings continue.
- Dry opinions differ
One analyst downgrades Diana and Eagle, while another upgrades those and more.
- Samudera slumps
Rising costs chop 12% from boxship player's third quarter bottom line, but revenue is on the up.
- Salvors rescued
Salvage appeal arbitrator sticks to his guns over higher award in 'rescue tow' of Economou capesize.
- Storms can help
Although hurricanes cut into Hercules Offshore profits, the liftboat environment could strengthened.
- Turkish ship taken
Somali pirates grab largest ship yet as 2007-built, fully laden panamax seized en route to China.
- 'We got deposits'
Singaporean yard Cosco Corp makes a point of highlighting instalment payments for latest ship orders.
- Pride in profits
Raspino-led rig and drillship player sees 52% more earnings from continuing operations amid strong rates.
- Hard times
Japanese bulker owner Azuma sees earnings fall again in first half, despite higher revenues.
- Up again
Taiwan's First Steamship continues to bank bigger profit from bulkers this year.
- Havila ups holding
Offshore shipowner makes $1.30m swoop for its own shares claiming they are worth more than double their current price.
- Bangladesh boot
Asian country suspends CMA CGM's licence to trade from Chittagong just days before it was due to start new service.
- Surf's up
Bourbon AHTS staying with StatoilHydro as it scoops two contract extensions worth nearly $200m.
- Cosco nets more
Wei Jiafu-led China Cosco sees profit jump 18% in third quarter as larger bulker fleet offsets a crash in domestic container income.
- Magic pipe fine
Greek bulker operator Genesis Seatrading and Maltese owner Casilda Shipping plead guilty in oil dumping case in Oakland.
- Crew rescued
Russian cargoship grounds off Finland, but 12 crew evacuated safely by helicopter.
- Asian fight-back
Cosco, NYK and HHI set the pace as shipping stocks rebound in Hong Kong, Tokyo and Seoul.
- Dutch smash
Boxship and general cargo vessel suffer minor damage in collision off Netherlands.
- FOE edges ahead
Strong offshore market sends revenues up at Fred Olsen Energy but financials keep profit in check.
- Iino rises
Japanese tanker and bulker owner boosts first-half earnings and expects continued profitability for the rest of the year.
- QM2 murder
Crewman arrested on suspicion of strangling ex-girlfriend on UK liner while docked in Hamburg for repairs.
- Genmar motors
US-listed aframax and suezmax operator sees year-on-year profits jump on higher charter rates.
- HHI down a third
Large leap in sales not enough to buoy Hyundai Heavy as hefty steel costs gnaw at bottom line.
- Bourbon better
French owner is creaming returns from its offshore operation to offset slump in dry-cargo revenue.
- Philly "on plan"
US shipbuilder Aker Philadelphia continues to make operating profit from 12-ship series for ACS in first three quarters.
- Sasebo soars
Japanese shipbuilder posts big profit jump in first six months as revenues climb.
- Kirby cranks it up
US-listed tank-barge player reports record result for third quarter despite hurricane disruptions.
- Genco boosted
Peter Georgiopoulos-led bulker outfit sees profits jump nearly four-fold on fleet additions.
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| OCTOBER 30, 2008 |
- COSCO: Profit, revenue rise, container revenue dip
- International Shipholding reports higher earnings
- Con-way Freight names Wynne VP of marketing
- GDP drops in 3rd quarter, stoking worry about recession
- WTO chief calls meeting to address trade credit bottleneck
- "10+2" rule faces obstacles, call for interim prototype
- Northcott departs AAEI
- USDA provides database for produce import requirements
- Wal-Mart scales back new stores
- FMC finds SoCal truck program anticompetitive, seeks injunction
- SoCal ports seek time in truck program appeal, ATA opposed
- SoCal terminal operators organize to collect container tax
- Camden to sell bonds for new terminal downriver
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| OCTOBER 30, 2008 |
- EU parliament acts to criminalize piracy
The EU Parliament transport committee has presented a resolution where piracy should be considered a criminal act. Today, it is defined as an act of war and this makes it difficult for armed forces to arrest pirates and bring them ...
- Norden postpones housewarming party due to crises
Dampskibsselskabet Norden has decided to postpone their housewarming party in the new office building, the brewhouse of the former brewery Tuborg in Tuborg havn in Copenhagen. Due to the current collapse on the dry cargo market and the world wide ...
- DFDS Seaways offers free transportation for stranded Sterling passengers
DFDS Seaways has offered free transportation to Denmark for passengers that have been caught up in the bankruptcy of the airline company Sterling Airlines A/S. The airline company filed for bankruptcy Wednesday, leaving several thousand passengers stranded in London ...
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