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| MAY 25, 2009 |
Shipping News
- Dry bulk shippers hope China will lead revival
Just a year ago, on May 20, 2008, the Baltic Exchange's dry sea freight index - which tracks prices to ship commodities such as iron ore, coal, grains and cement - hit an all-time high of 11,793 points, driven by a seemingly insatiable hunger for raw materials among developing nations, especially China.
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| MAY 25, 2009 |
- PIL south east Asia service now calls at Fuzhou weekly
- Cosco now calls at Savannah independently of CKYH Alliance
- Long Beach to cut port budget 14pc to US$881 million
- World trade volume shrinks 11.3pc in first quarter
- ICTSI to run Brunei CT, posts 43pc quarterly profit decline
- Archangel port first quarter results decline 15pc
- Nigeria inland port scheme bogs down in red tape
- Rotterdam port's rail transport breaks million TEU mark
- TNT names ex-FedEx man to direct Hong Kong airport operations
- Air France-KLM Cargo hit by loss of US$284 million
- Atlas Air retains contract to transport Formula 1
- Kansas City airport April cargo falls 29.3pc
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| MAY 25, 2009 |
- LNL to launch revamped India Africa Service
- GAC & Alex Brundle celebrate early results in new FIA Formula 2 Championship
- Jamaican Flag lures German vessel-owners
- Sorensen quits as Group CFO of A.P. Moller-Maersk
- 13 lakh tonnes of raw sugar to arrive by June-end
- Dumping duty imposed on measuring tapes
- SEAI team in S-E Asia to promote export of oilmeal
- India displaces China to become second-lowest cost manufacturer
- EU rejects shrimp consignment
- 64,000 tonnes pulses to be imported
- Edible oil imports expected to flare up
- CoPT plans 'ro-ro' service to move boxes from RGCT to Vallarpadam ICTT
- Railway Board sets tentative fiscal target at 875 m tonnes
- Service providers within SEZs exempted from paying tax
- Notification procedures to be speeded up
- Exim Bank net up by 43 pc
- RBI Governor for fiscal consolidation
- Time right for economic reforms, assert experts
- Leena Nair takes charge as MPEDA chief
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| MAY 22, 2009 |
- Owners back Rotterdam Rules
- Somali suspect pleads not guilty
- DryShips secures debt deal
- Containerships choses Teesport
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| MAY 23, 2009 |
- Engine supplier sues Bender
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| MAY 22, 2009 |
- New Crowley heavy-lift barge launched from Gunderson Marine
- Down weeks continue for US rail freight traffic
- TOP Ships takes delivery of new product/chemical tanker
- Port of Anacortes presents annual Port Partner Awards
- General Dynamics nets deal to repair damaged submarine
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| MAY 23, 2009 |
- Norway victims return to court
VICTIMS of the Norway explosion in 2003 have returned to a US federal court seeking more damages.
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| MAY 22, 2009 |
- Pirates driven away from US ship
SOMALI pirates reportedly attacked a second Maersk Line box ship today in the Gulf of Aden
- Spanish yard violence erupts
VIOLENCE erupted in Spain today over the inability of yard managers and workers to agree on pay and hours worked
- Huge Shenzhen growth planned
BEIJING plans to expand its Shenzhen economic zone to "a whole city", the official China Daily News has reported
- Tit for tat in Russian spat?
MOSCOW'S food fight with Cairo might be escalating, with Russian official seizing a shipment of Egyptian oranges at Novorossiysk's port
- German inland hub plan unveiled
GERMAN warehousing company Soltau Logistic Center plans for a €12M ($16.7M) inland container hub at its existing site
- Cardy rejects criticism of MCA
PETER Cardy, head of the UK's Maritime & Coastguard Agency, has responded firmly to allegations by ship officers that the MCA is "undermanned and demoralised"
- Berlin to aid Wadan yard again
GERMANY'S economy ministry said today the eastern yard Wadan Werft has received loan guarantees from the Berlin's economic stimulus package
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| MAY 22, 2009 |
- Tacoma Imports Tumble 33 Percent
- State Scales Back Truck Rest Stop Closures
- India's TCI Profit Fell 28 Percent
- House OKs Bill Easing FedEx Unionization
- NOL to Move to Phoenix
- Reddaway Launches Four-level Guarantee
- Hanjin to Launch Haiphong Express Service
- House Panel Updates Recovery Spending
- Small European Nations to Trade with Russia
- Bill Bars State TWIC Alternatives
- CO2 Emissions Drop Sharply
- Labor, Airlines Look to Babbitt
- Global Economic Contraction Slows
- Legislation Would Ban Federal Highway Tolls
- STB Rated Best Small Federal Workplace
- DOT Officials Confirmed in Senate Flurry
- Trinity Cuts Barge Work Force
- British Airways Tumbles to Record Loss
- Navies Team Up to Catch Pirates
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| MAY 22, 2009 |
- Why the 'negative' outlook?
On Wednesday (May 20) the International Monetary Fund (IMF) gave the UK's government a glowing endorsement on its 'bold and wide-ranging' response to the global financial crisis. The effect was to give a spike to the markets and not least a confidence boost to the embattled UK consumer. But yesterday (May 21), credit rating agency (CRA) Standard & Poor's (S&Ps), lowered its outlook for the UK economy from 'stable' to 'negative' and warned that there was a one-in-three chance that it would lose its prized 'AAA' credit rating. Result: the FTSE 100 suffered its biggest one-day fall since April - plunging by 2.75%. In one negative statement fragile confidence was destroyed.
- NYK and Nile Dutch to start FE/West Africa link
- Armstrong provides health check on 3PLs
- Hanjin and Sinotrans tap Vietnamese market
- S&P warns of UK downgrade: UK & European stocks suffer
- Containerships to hub at Teesport
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| MAY 22, 2009 |
- Queen Lily bought
Modern Japanese-controlled panamax goes to Greek buyers for $30.6m, brokers say.
- ETA sells hull
Emirates Trading Agency is said to have sold newbuilding kamsarmax to South Korean interests.
- $33.8m for TMM
Pemex reveals details of five-year charter of Mexican City owner's products tanker Tajin.
- Vale shuttle flying
Despite sharply reduced overall budget, Brazilian miner Vale sets aside $595m war chest for bulker acquisitions and COAs.
- Maersk escapes
Hijacking of boxship Maersk Virginia with 19 American crew thwarted in Gulf of Aden after Greek bulker is fired on.
- $63m heavy loads
Rig movements keeping heavy-lift specialist Dockwise busy with new contracts out to next year.
- 'Pirates' nabbed
Italian Navy detains nine suspects after failed hijacking of Maersk ship and Greek bulker in Gulf of Aden.
- No more defaults
Charterers no longer hammering down the door to redraw deals, says Excel CFO Lefteris Papatrifon.
- Genmar rating cut
Standard & Poor's lowers credit rating for New York tanker owner General Maritime over expiring time charters and lack of covenant cushion.
- Greeks snap raid
Pikey Navigation confirms armed attack on bulker Maria K which crew caught on camera.
- Classic result
George Economou wins security for claim over $300m capesize chartering deal with 63' company that went wrong.
- It's quotes time
Somali pirates get a good prison pampering and has LNG lost its mojo?
- Still spending
Yuddhishthir Khatau says Varun is eyeing second-hand offshore vessels despite difficulties finding employment in the North Sea.
- Excel revs up
Greek bulker owner sees first quarter profit buoyed by Quintana takeover, but non-cash items skew the numbers.
- Postal pact
China's Sinotrans sells off loss-making domestic express delivery service to joint venture with DHL.
- IPO wait
Taiwan's Yang Ming could still go ahead with public offering of bulker unit in two or three years, president Robert Ho says.
- In demand
Cosco and China Merchants both in talks to snap up stakes in Yang Ming's Kaohsiung container terminal.
- Auckland aggro
Ports of Auckland chairman Gary Judd says he was sacked after being accused of "unhelpful" behaviour.
- Haiphong link
Hanjin Shipping and Sinotrans are launching an express link between China, Korea and Vietnam.
- Yards win work
US shipyards Todd and Bender seal contracts to upgrade government icebreaker and two ro-ros.
- Safe cancels
Polys Hajioannou-led outfit cancels two newbuildings in South Korea and terminates three long-term charters.
- Sharing the spoils
Sevan secures FPSO deal which will see its pay based on the performance of the Shelley field as Premier completes Oilexco takeover.
- SCI takes two
Indian national owner takes a punt on a pair of chartered boxships at rock-bottom rates.
- Mate's mistake
Greek bulker's second mate failed to monitor vessel's course before it grounded off Australia last year.
- Euroseas lays-up
Aristides Pittas-led shipowner takes three boxships out of service as first quarter profits slump 75%.
- Safe's profits rise
Cash from early termination of charters helps push up profits at Polys Hajioannou-led outfit.
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| MAY 22, 2009 |
- Maersk ship escapes pirates
- Drewry warns about dry bulk shipping outlook
- Maersk delays rate hike
- British Airways: Cargo industry should cut capacity
- WFS to handle cargo for LTU in Miami
- Freight interests aim to shape transportation bill
- GAO: tighter federal freight rail security needed
- U.S.-Canada talks set
- Sen. Warner advocates manufacturing competitiveness
- Baucus bill opens U.S. ag, medical exports to Cuba
- Meat exporters seek more market access
- Virginia port gets funds for Craney Island
- Reports: Mainland firms interested in Taiwan port
- Port Manatee allies with Panama Canal
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| MAY 22, 2009 |
- Prices softer with stronger demand in major ports
Suppliers report improving avails after tightness throughout the week.
- European bunker prices lack direction
Rotterdam market 'very quiet'.
- New software for fuel consumption data
Monitoring of vessel fuel consumption and efficiency has been enhanced.
- Ships 'must become more fuel efficient'
IMO's 'success' in reducing sulphur in bunker fuel confirms its role as global regulator, says ship operators' organisation.
- Court orders sale of arrested ship
Bunker trader that initiated arrest 'under no illusion' about getting paid.
- Dry bulk sector faces tonnage glut
Consultancy warns that rates will be weak for years to come.
- Bunker prices weakening in Asia ports
Singapore demand 'rather poor'.
- New testing laboratory in Southern Europe
Inspectorate expects Algeciras lab to open in September.
- Bunker spill in Philippines
Investigation underway to determine the source of the spill.
- Singapore June term premiums firm
Ex-wharf 380 cst premiums up slightly from May figures.
- Bunkering, petroleum sales drag down Singapore Q1 trade
Both domestic and foreign wholesale trade suffering.
- 'No further cuts' at next OPEC meeting
Exporters 'more comfortable' at $60 a barrel.
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