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| AUGUST 10, 2009 |
Shipping News
- Orient Overseas chalks up first loss in a decade
Orient Overseas (International) Ltd, Hong Kong's biggest container line, posted its first loss in 10 years as slumping world trade and rising overcapacity pummel cargo rates.
- Baltic index in biggest drop since Oct
The Baltic Dry Index, a measure of shipping costs for commodities, had its worst week since October last year as Chinese demand for shipments of coal and iron ore slows.
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| AUGUST 10, 2009 |
- Hanjin loses US$325 million in Q2, but sees uptick next quarter
- Shenzhen's SCT reports e-RTGs provide 70pc cost savings
- CMA CGM, Maersk, MSC to merge on transpacific mid-September
- Smarter Container tracks fireworks boxes from China-US
- China's longest coastal highway to open in September
- Two major American relocation rivals team up in downturn
- Archangel cargo volume down 27.8pc in first half
- Port of Vancouver, Washington, celebrates Terminal 5 opening
- Guangzhou's Baiyun Airport cargo volume surged 40pc in June
- Mainland adds more scheduled flights to Taipei starting end of August
- Suspended because of rioting, Fuzhou-Urumqi flights resumed
- Singapore holds forum to address downturn in aviation
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| AUGUST 10, 2009 |
- TT Club's guide to minimise storm damage to installations & cargoes
- ESPLL ties up funds for purchase of 4 Supramax vessels
- INTTRA introduces web booking tool for shippers & forwarders
- Steamer agents call to resolve row
- India, South Korea finally ink trade deal
- Hussain completes Harvard training programme
- L&T lowers earmarked sum for Ennore shipyard & port
- Pulses pile-up at ports exaggerated, asserts PIA
- thens-Hong Kong Lufthansa freighter touch Mumbai
- Leash on prices, assures Pranab
- Reforms, divestment remain on track
- Foodgrains target set at 238.12 m tonnes
- Fieo open house with Customs officials today
- Move to set up SEZs in Delhi questioned
- CBEC gets 3 new members
- Saudi King keen to augment business ties with India
- State may abolish octroi on gems & jewellery
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| AUGUST 7, 2009 |
- Chemoil's strong Q2
- Nordic American makes small loss
- Bass Strait venture
- Downturn hits ICTSI
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| AUGUST 7, 2009 |
- K-Sea prices public offering
- River pirates attack Amazon cruise vessel
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| AUGUST 7, 2009 |
- Port of Camas-Washougal nets judgement against Riverwalk
- US rail freight traffic continues string of down weeks
- Marcon brokers sales of supply boat/deck barge
- Port of Everett has clean audit for 12 consecutive years
- Neptune Orient Lines releases first half numbers
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| AUGUST 7, 2009 |
- Shipping foreclosures set to rise
BANKS expected to take action as covenant breaches become an almost daily occurrence.
- Eastwind files for bankruptcy
- US Shipping prices itself at $315m
COMPANY gives itself price-tag of $275m-$315m after rejecting takeover bid by Rand Logistics.
- Glencore and SLS in dispute over tankers refund
GLENCORE and Korean yard enter arbitration over the return of $58m for two delayed tankers.
- UK steps up checks on port cranes
HSE inspects more ship-to-shore box cranes as part of probe into Southampton crane crash.
- Nordic American warns of delivery delays
NORDIC American Tanker Shipping says its two Chinese newbuildings will be delivered several months late
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| AUGUST 7, 2009 |
- Rand turns up the heat
RAND LOGISTICS is not giving up the hunt for US Shipping Partners, despite the rejection of its initial offer for a majority of USSP's assets
- Safety uproar in fatal sinking
A MAJOR dispute is raging today over the seaworthiness of the ferry Princess Ashika, which sank off Tonga in the South Pacific on Wednesday night
- Japan to boost wheat imports
JAPAN is reportedly planning to increase wheat import shipments because severe rains have reduced domestic output
- Turkey signs up to South Stream
TURKEY has agreed to take part in Gazprom's South Stream natural gas pipeline, a scheme that could spur gas shipments from Ceyhan
- 'Dire' LNG market will recover
A GLUT of tonnage has battered the LNG shipping market for the first half of 2009, but it will recover, shipping analyst Andrew Buckland told Fairplay today
- GL layoff tied to newbuilds
GL TOLD Fairplay today it is axing 380 jobs to reflect a collapse in demand for newbuilding classification services
- US bill seeks Customs uptick
LAWMAKERS have introduced a Senate bill to give US Customs & Border Protection more power to enforce trade laws
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| AUGUST 7, 2009 |
- Obama, Calderón to Discuss Cross-border Trucking
- YRC Signs $81 Million Facility Sale, Lease Agreement
- YRC Teamsters Ratify Wage, Benefit Plan
- DOT Stimulus Spending Tops $1 Billion
- Union Pacific to Pay $32 Million for Water Act Violations
- Obama Signs Highway Trust Fund Bill
- CSX, Train Engineers Reach Deal
- Senate Confirms Obama's STB, DOT Nominees
- South Korea, India Sign Bilateral Trade Pact
- Germany's Trade Surplus, Industrial Orders Rise
- YRC Teamsters Ballot Count Delayed
- Spot Freight Availability Index Surges 33 Percent
- Wilh. Wilhelmsen Profit Grows 5 Percent
- Frozen Food Express Loses $5.2 Million
- MSC Trans-Atlantic Service to call Philadelphia
- OOIL Loses $232 Million in First Half
- JAL Loses $1 Billion
- Port Nehru Boxes Fell 7 Percent
- Short Line Traffic Chugs Ahead
- Hanjin Loses $325 Million on Falling Rates
- FRA Gives $1 Million to Operation Lifesaver
- Atlas Profit Soars Despite Downturn
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| AUGUST 7, 2009 |
- Pirate ransoms: a no-win situation for owners
The families of the 24 seafarers held hostage by Somali-based pirates popped champagne corks this week to celebrate their loved ones' release after four intensely worrying months of captivity.
- Transpacific trio rationalise services between Asia-USWC
- Gottwald to deliver cranes to Poti
- ICTSI feels the pressure of the downturn
- Panama Canal and Port Everglades ink alliance
- German recovery still on track
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| AUGUST 7, 2009 |
- UK halts Margaret
Environment Agency puts the brakes on export of LPG carrier bound for the breakers.
- K-Sea seeks cash
Tank-barge owner prices public offering that could bring in as much as $63.9m.
- USSP valued
Greenhill estimates reorganised tanker and tank-barge owner would have an enterprise value of $275m to $315m.
- Royal surges
Shares in Miami-based cruiseship giant gain by 10.7%, leaping ahead of rising shipping shares.
- Cheniere loss falls
Houston LNG terminal player shrinks losses by 90.5% as it barely turns an operational profit.
- Carron for Canada
Stena applying to operate drillship Stena Carron for a year off Canada's East Coast.
- Consent to chop
D'Amico and Glencore enter arbitration with SLS to clear the way for cancellation of a second newbuilding at the yard.
- NAT pair late
Arrival of Chinese suezmax pair delayed by a total of 10 months, Nordic American says.
- Korean walk-out
Tug crews at Ulsan and Busan strike over pay and conditions, causing ship backlog.
- Bad debt hurts
Michael Ioannides-led Ocean Tanker books less in first half due to $2m bad debt provision and lower rates.
- It's quotes time
Peter G is getting approached from all angles while his wing man's getting chased in Spain.
- Four fire CH
Newbuilding quartet spur full-year profit at Singapore outfit CH Offshore.
- Rand insists
After US bulker owner's Laurence Levy claims US Shipping relying on "illusory" valuation.
- Cash for Eitzen
Norwegian chemical tanker owner makes $5m profit through sale and leaseback deal for 2006-built ship.
- NAT too bad
Herbjorn Hansson's Nordic American Tanker Shipping posts small Q2 loss but its figures trump estimates.
- New5 in Numb3rs
Sammy Ofer is caught up in a defamation suit and Polys Haji-Ioannou celebrates a VLCC scrapping coup.
- Ferry furore
US farmer considers legal action for non-delivery of ship bought on eBay for $23,600.
- Death toll to soar
Hope fading for 64 missing after ferry sinks off Tonga, second body found as search nears end.
- Earnings chopped
Malaysian shipyard Boustead Heavy's second quarter profit cut by 49% as costs rise.
- Hitachi flies
Japanese shipbuilder's first quarter bottom line shoots up over 100% as it sticks by ambitious full-year target.
- Kyoei slips
Bottom line cut in half at Japan's Kyoei Tanker, but its full year forecast is unchanged.
- SNO stronger
Romanian shipbuilder posts better first-half profit as it keeps busy in downturn.
- Boxship grounds
MSC Aurelie refloated by five tugs after 10 hours stuck outside Karachi port in Pakistan.
- Hanjin hurts
Weak freight rates at liner and bulkers take their toll at South Korean operator as losses reach $325m.
- OOCL suffers
Parent of Hong Kong liner company slumps to first half loss of $231m on global economic woes.
- Coal protest lifted
BHP Billiton regains control of Australian coal terminal after Greenpeace protesters arrested.
- Inui profit slashed
Japanese bulker owner's bottom line ravaged in first half with tough year expected.
- Maersk restores
Danish container giant pushing up prices on three more routes to combat "unsustainable" rates.
- Port punt
China's Jiangsu Lianyungang Port Co to raise CNY 1bn through one-year financing bills.
- Taiheiyo tanks
Red ink flows at NYK-connected tanker and bulker owner which expects large annual loss.
- Yard plunge
Japan's Naikai Zosen posts big profit fall in first quarter, but remaining nine months should be better.
- Transpacific cuts
CMA CGM, Maersk and MSC are to rationalize existing capacity between Asia and the US.
- Todd turns
Seattle shipyard moves from loss to profit in first quarter as business picks up.
- Swire's profits up
Hong Kong offshore vessel player manages to avoid the worst of downturn with modest rise in interims.
- Sado cuts losses
Japanese ferry operator sees losses reduce from a year ago and predicts return to profit by years end.
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| AUGUST 7, 2009 |
- Hanjin first half losses hit $400 million
- OOCL parent loses $187 million in the first half
- MSC levies Europe-to-Asia repositioning charge
- United offers new Temp Control product
- National Air Cargo to supply Kandahar
- Bersin, Southers in line for top CBP, TSA posts
- Douglas directs Saddle Creek's business development
- Government logistics revenue boosts Agility profit
- ICTSI sees lower profit on container volume decline
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| AUGUST 7, 2009 |
- Eitzen sells and leases back
Oslo-listed Eitzen Chemical sells the chemical tanker Sichem Pace, 19,900 DWT, built in 2006 for USD 34 million to an undisclosed buyer. The vessel will be bareboat chartered back
- Maersk in new cost reductions
Due to the global economic downturn and challenges facing ocean carriers, Maersk Line has been forced to introduce cost reductions targeting its network services. By the end of September 2009
- Engine room fire on new Samsø ferry
The brand new ferry Kanhave on the Samsø'Hou service is out of service after a fire in the engine room. It happened yesterday while on a crossing with 116
- Wilh. Wilhelmsen's operating profit up
Wilh. Wilhelmsen reports an operating profit of USD 78 million for the second quarter of 2009, compared to USD 75 million for the same period of 2008. Total income was
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| AUGUST 7, 2009 |
- Crude up, bunkers down to end week
Supply factors coming into play as markets head in different directions.
- ABS to issue International Air Pollution Prevention certificate
US Coast Guard authorises classification society to act on it behalf.
- MEPC's delay on GHG proposal 'expected'
'Not yet possible to point unambiguously to one market-based instrument,' says Danish Maritime Authority.
- Increasing fuel costs puts pressure on US lobstermen
State of Maine sees fierce competition, 'tempers are short'.
- Strict fuel regulation gains industry support
US EPA's clean air buffer zone will add extra restrictions to ECA rules.
- ECAs: What you need to know
New briefing paper covers Emission Control Areas (ECAs) and new fuel restrictions coming into force.
- European bunker prices end week soft
Congestion in Gibraltar pushes back delivery dates.
- Deal signed for bunker project
Sri Lankan official in China to discuss development aid.
- New oil leak from Full City
Barge takes away first load of oil emulsion pumped out of the grounded ship.
- Refiner expects demand to 'pick up'
Petroplus sees income fall, but not as much as analysts had predicted.
- Bunker prices increases hit tanker operators
Freight rates firming, but not enough to cover climbing fuel costs.
- External: Marine Bunkering (Rotterdam) B.V
- Malaysian supplier secures loan for tankers
Bank says it is its 'first vessel financing opportunity'.
- Asian bunker prices soften
Five-day rally come to an end.
- Trader set to receive bunker claims on Eastwind vessel
Court also allows Eastwind to surrender M/V Anapa to joint-owner.
- 'Baby post-panamax' could be box ship of the future
Germanischer Lloyd representative says new design improves efficiency.
- Chinese refiners increasing output
Increase will help meet seasonal diesel demand by fishing industry.
- WFS marine fuel sales down
But net profit for the group climbs 35%.
- Chinese ports see the rate of decline in throughput slow
Chairman of Shanghai International port says foreign trade 'picking up'.
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