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| JULY 3, 2009 |
Shipping News
- Baltic Exchange moves to boost derivatives trading
The Baltic Exchange said on Wednesday it had changed the way its chief sea freight index was calculated in a move aimed at boosting freight derivatives trading.
- AP Moller-Maersk sees stagnation in 2010
AP Moller-Maersk's liner shipping business expects stagnation at best in the industry next year but will not cut freight rates to win more market share, the head of the division told a German newspaper.
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| JULY 3, 2009 |
- Coscon, combines with Evergreen, hikes charges throughout global network
- CMA CGM, CSAV and CSCL combine services in Asia to Mexico-Caribbean loop
- Fujian to offer preferential policies to win Taiwan trade
- Shandong provincial port volume up 6pc in first five months
- Port of Dandong throughput increases by 23.7pc
- US truck volume increased 3.2pc in May over April
- Despite US and EU criticism, ESC rejects Rotterdam Rules
- Toll to manage Gorgon's Barrow Island hub
- Container housing viewed as unsightly by town planners
- Impatex unveils ICE product for European exports
- UPS to set up Dubai JV to service Mideast, Central Asia
- Asian air freight airlines see 2.5pc growth in May from April
- SIA Cargo loses US$169 million, depresses group profit 57pc
- DHL-Lufthansa's AeroLogic takes flight despite darkening skies
- South Africa now fully enforces air cargo security rules
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| JULY 3, 2009 |
- Plan to sell 15 pc SCI stake may be revived
- Balmer Lawrie & Co. successfully executes mega project cargo
- Bhutan opens door wider for Indian investments
- Private trade may export 13 lakh tonnes of wheat products
- 'Chronic congestion' at JNP not true-Hussain
- Vasan visits Tuticorin Port, spells out NMDP programmes
- ...releases IMU's CET merit list for academic year 2009
- Gammon-led consortium to build ore berth at Paradip Port
- Subhash Kumar assumes charge as acting Chairman of ChPT
- Exports dip for 8th month in a row
- Govt pins 7 pc growth hopes on H2
- Economic Survey calls for sweeping reforms
- RBI allows exporters repatriation of proceeds for another year
- Textile Ministry seeks Rs 3,500 cr. TUFS allocation
- India not to accept emission cut targets
- L. Murugappan assumes charge as IFFCO Kandla head
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| JULY 2, 2009 |
- Oceanic cleared to depart New York
- Passengers injured in Staten Island ferry incident
- Bender Shipbuilding now in Chapter 11 bankruptcy
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| JULY 2, 2009 |
- VLGC owners issue rate warning
BW Gas and Maersk Tankers refuse to charter out ships until rates match up to operating costs.
- VLGC rates hit loss-making levels as spot fixtures tail off
- Queen Mary 2 defendants get suspended sentences
FRENCH appeal court has imposed suspended prison sentences on the four individuals.
- Pacific freight rates hit new lows
TRANSPACIFIC freight rates continue to weaken, with the spot market hitting new lows.
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| JULY 2, 2009 |
- Danaos nets covenant waivers
DANAOS has obtained waivers through 31 January 2010 for more than $900M in debt obligations
- Three's a partnership in boxes
FRANCE'S box giant CMA CGM told Fairplay today it is teaming up with Chile's CSAV and China's CSCL on some direct shipping routes
- Chinese yards squeezed
CHINESE shipbuilding is reeling, with pressure coming from three directions
- Bender gains bankruptcy shield
ALABAMA'S Bender Shipbuilding & Repair has been granted Chapter 11 bankruptcy protection
- Greenest of newbuildings
GREENPEACE signed a €23M ($32.2M) contract today for a new flagship protest vessel with the German yard Fassmer
- Liberia law adds eligibility
UNDER Liberia's new Insolvency of Foreign Mortgagee Act, Liberia-registered ship mortgages are now eligible as underlying security for German Schiffspfandbrief bond certificates
- Counting costs of US air proposal
US REGULATORS are considering tougher air rules that could jack up operating costs for US-flagged ships
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| JULY 2, 2009 |
- CMA CGM Sets Joint Loop with CSAV, CSCL
- Landstar Buys Supply Chain Software Companies
- Northwest Ports Work Together to Clear the Air
- Hours Rule Change Pits Railroads Against Unions
- Teamster, YRC Talks to Resume
- Brazil, China Increase Trade
- Shipments Index Grows for Second Straight Month
- EPA Proposes Vessel Emission Standards
- Geodis to Acquire Cool Jet
- WTO Report Urges Action on Trade Financing
- Pacer Negotiates Credit Waiver
- Minnesota Trucker Shuts Down
- Factory Shipments, Inventories Fell in May
- Source Logistics Secures Expansion Capital
- UK Scraps Royal Mail Privatization
- Danaos Gets Waivers on $908M in Loans
- Court Clears California Rule on Ocean Vessel Fuel
- Solar-Pushed NYK Ship Arrives at Long Beach
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| JULY 2, 2009 |
- Seatrade adds MAGNUM units
- New Eimskip emerges from the ashes
- Panama Canal readies for new bids process
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| JULY 2, 2009 |
- Top to seek cash
US-listed tanker and bulker owner forges deal to potentially sell $200m in new shares to Yorkville Advisors.
- Casualty file
Two ships freed by pirates and two collide off Turkey in this week's WebTV smash-up roundup.
- Ship sales slip
After hitting an eight-month high in May, a drop in tanker sales push second-hand ship deals to fall in June.
- One lost in fire
Crewman missing after Italian-controlled chemical tanker suffers explosion off the Netherlands.
- Metrostar sells
Greek owner offloads tanker brace on order at Hyundai Heavy Industries.
- Selling to buy
Arison-led Carnival issues $660m worth of its London shares to buy up its New York-listed shares.
- STX's Brazil hope
STX Corp's Kang Duk-soo expects the company's shipyards to win some of Petrobras' offshore orders.
- Hybrid warrior
Greenpeace pens its first newbuilding, which will have both sails and diesel-electric engines.
- Exodus continues
Danish owner J Lauritzen continues handysize selling spree with exit of the Sendai Bulker.
- Raining rupees
India to pump INR 33.2bn into six new port projects for bulkers and boxships.
- B+H in default
US shipowner expecting a "going concern" statement and is negotiating with banks after declining ship value lead to loan defaults.
- Nissen offloads
Japanese owner pockets reported $26.5m for 2002-built supramax.
- Full story?
Qatar's Qinvest says it's only an adviser for unnamed clients buying Poland's Gdynia and Szczecin yards.
- Stolt stronger
Improved showing from all of its units lifts second quarter profit by 92% at Oslo-listed Stolt-Nielsen.
- CECO safer
Axel Eitzen-led owner wins covenant waiver from lenders until 1 October to prepare long-term financial plan.
- No pushing
UK ports operator ABP bars tugs from pushing up on sterns of ro-ros following accident at Hull.
- Lucky escape
Crew sleeping on dredger were "extremely fortunate" it rolled to port after developing leak at UK berth, report says.
- Late arrival
Deep Cygnus is finally free to join Volstad, two months after Trico abandoned the newbuilding.
- Bender files
US shipyard files for Chapter 11 bankruptcy amid $45m dispute with GulfMark, with 100 staff to be cut in switch to shiprepair.
- Bond booster
Dof Subsea completes $78m bond issue aimed at shoring up its balance sheet.
- Kang confident
STX Pan Ocean can remain in black this year despite exposure to troubled sectors, parent's chairman says.
- Sberbank buys
Russian lender takes 59% stake in Amur Shipbuilding ahead of transfer to state control.
- More for Maersk
Eivind Kolding says Danish line may be able to push container rates up in third quarter, but outlook bleak through 2010.
- Astoria moving
A cruise ship seized in Barcelona is on the move.
- PCTC woes
Exports of new and used cars out of Japan continue to remain weak according to latest industry figures.
- Staten smash
"Hard docking" injures 15 passengers on New York ferry Sen. John J. Marchi.
- Paragon fixes two
Michael Bodouroglou-led Paragon Shipping agrees charters on another two of its bulker fleet.
- Dalrymple done
Project to expand Aussie coal terminal completed: but eye already on further expansion plans.
- SeaDragon back
Rig owner exercises option to have second semi-submersible rig outfitted at SembCorp Marine.
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| JULY 2, 2009 |
- DHS ready to pre-clear flights from Ireland
- Amerijet invests in U.S. trucking firm
- AirBridgeCargo adds Milan/Moscow freighter
- NAFTA surface trade drops 33% in April
- Purolator USA opens New York facility
- GE hires Fuchs as trade attorney
- Binkhorst joins GIL advisory board
- Northwest ports release clean air plan
- S&P downgrades DP World, JAFZA ratings
- Ceres, Ports America compete for Seagirt
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| JULY 2, 2009 |
- Pilot project in the Baltic Sea
In 2009, the EU Commission plans to establish a project with a value of EUR 2 million in order to "Cut sulphur emissions and nitrogen oxides in the Baltic Sea Read more
- GC Rieber cancels newbuilding
Norwegian GC Rieber Shipping has cancelled an offshore vessel, newbuilding no. 7037, due to delays. The vessel was ordered in May 2008 by Polar Marine I Pte Ltd, a 51 Read more
- Eimskip taken over by creditors
The struggling Icelandic shipping company Eimskip has launched a financial re-organisation plan. The plan proposes to create a new and strong shipping and logistics business and to leave the Read more
- Eitzen gets loan respite
The Norwegian shipping company Camillo Eitzen & Co has been granted a respite for its loans with several banks. The banks will, among other things, alleviate the loan conditions until October
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| JULY 2, 2009 |
- PMSA concerned over patchwork regulations
Calls for international standards to bring 'meaningful emission reductions'.
- North European bunker prices continue to fall
Meanwhile, bunker prices firm in South Europe.
- Schwarzenegger applauds low-sulphur regulations
California governor says air quality will improve.
- Hedging losses mount for tanker operator
Stolt-Nielsen reports seven percent fall in bunker consumption.
- Bunkers slide on lower oil prices
Demand above average in Hong Kong and Busan.
- DFDS vessel about to start scrubber sea trial
Company hopes technology will help it stay competitive when ECA sulphur limit falls to 0.10%.
- US sulphur regulations target suppliers and producers
EPA proposing to 'forbid the production and sale' of high sulphur bunker fuel for use in ECAs.
- Singapore residual fuel stocks dip
Middle distillate stocks near nine-month high.
- UBT promotes bunker traders in Singapore, HK
- Bominflot appoints new head credit manager
Paul Millar was previously from the maritime credit reporting industry.
- OPEC June output up
Crude exports said to have risen for third straight month, compliance with quotas slipping.
- Chimbusco ends posted prices due to 'competition'
Prices in Shanghai, Ningbo and Zhoushan will be 'subject to enquiry'.
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