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| SEPTEMBER 2, 2010 |
Shipping News
- Dry bulk rates seen coming close to all-time lows
Freight rates for dry bulk carriers could tumble near historic lows next year as new ships flood the market and iron ore demand in China weakens, said the head of Precious Shipping yesterday.
- Supertanker rates remain depressed by surplus ships
A surplus of supertankers competing for two million-barrel cargoes of Middle East crude oil stayed unchanged, undermining owners who have refused charters to try to halt a collapse in rental income.
- Hyundai Heavy wants to boost wind-power sales 13-fold
Hyundai Heavy Industries Co, the world's largest shipyard, plans to increase wind-power sales 13-fold as concern about climate change spurs demand for alternative energy.
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| SEPTEMBER 2, 2010 |
- CSAV revamps Indus to launch new Asia-America loop
- Standard and Poor's expects China GDP to rise 10.3pc in 2010
- China first half trade value grows 40.9pc to US$1.62 trillion
- Have-not Guizhou to build dry port with super-rich Guangdong
- Xian to become logistics hub for northwestern China trade
- Defence ministers discuss implications of Mekong railway project
- India-China trade reckoned at US$32 billion, up 20-fold since 2000
- Visakha terminal orders 2 quay cranes to boost capacity
- Jacksonville to challenge Miami for top port spot
- Maersk affiliate to offer truckers chassis in Pacific southwest
- Hainan Air first half profit soars 218.19pc to US$81.9 million
- Qantas Freight is re-branded Qantas Courier
- Maximus offers free air lift for Pakistan telethon floor relief
- Vietnam Airlines acquires four Boeing 777 aircraft
- FedEx, UPS renew lease at Shreveport's air cargo facility
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| AUGUST 31, 2010 |
- Emirates launching service to Senegal
Dakar will be today's catch of the day as Emirates launches flights to the Senegalese capital. Located on the Atlantic coast in West Africa, Dakar has a rich tradition in fish...
- Afriqiyah Airways cancels Asia service
The Libyan carrier Afriqiyah Airways has cancelled its Far East Asia service. This schedule modifications concern its twice-weekly flights between the country's capital Tripoli and...
- Global container handling volume to top 545 million teu in 2010
According to the latest figures published by Alphaliner, the global container handling volume will exceed 545 million teu this year. The strong first-half performance will be&...
- Cosco Pacific H1 profit jumps by 82%
Hong Kong-based Cosco Pacific Ltd, Asia's third-largest container-terminal operator, said its H1/2010 profit rose by 82%, due to the recovering world trade and the sale o...
- Karl Dischinger becomes logistics partner of DB Reise & Touristik SA Basel
Karl Dischinger GmbH, a specialised German forwarding company, has established a reception and consolidation platform for temperature-controlled foodstuffs at its headquarters...
- DPD banks on expanding in Russia
The B2B parcel service provider DPD that belongs to Geopost, the CEP subsidiary of the French mail service provider La Poste, continues to bank on expanding in Russia. To this end ...
- GLS Ireland starts express delivery service
Parcel carrier GLS Ireland is launching its nationwide express delivery service today (1 September). The product can be easily supplemented with various other GLS services. GLS Ire...
- Master plan to upgrade Vietnamese airport
The Vietnamese government has passed a master plan to upgrade Phu Bai airport into an international facility by 2020. Phu Bai is located near the central city of Hu', the historic ...
- APM Terminals Aarhus and Cargo Service to merge
APM Terminals Aarhus (Denmark) and Cargo Service have agreed to combine their two facilities into one port complex to serve the customers better through a single deepwater ber...
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| SEPTEMBER 1, 2010 |
- Enbridge joins CNG shipping alliance
- International Paint offers a simpler way to a smoother hull
- Trinity Marine launches barge for Maxum Petroleum
- Teekay Offshore signs shuttle tanker agreements
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| SEPTEMBER 1, 2010 |
- Commerce Department finds China subsidized aluminum products
- Norfolk Southern orders two Progress Rail locomotives
- Mitsui O.S.K. Lines begins safety campaign
- Hamburg Sud set to add new general rate increase
- Genco Shipping & Trading adds Supramax ship to fleet
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| SEPTEMBER 1, 2010 |
- Hellenic Register left in limbo
No final decision as Greek classification society's limited recognition by Brussels expires
- Hellenic Register upbeat as Brussels decision looms
- IACS antitrust probe to wrap up this week
- Brussels demands new entry criteria for IACS members
- Idan Ofer defends Zim's boxship order spree
Line's parent company, Israel Corp, had resources to underwrite vessels on order
- Zim claws back to the black
- CMA CGM first half revenues up 41%
Line returns $864m profit on back of growth in container shipments
- CMA CGM talks with Albert Frere reported to...
- VLCC Middle East to Asia rates dip
Time charter earnings dip back into four digit levels as spot market remained...
- Middle East VLCC spot rates to stay depressed
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| SEPTEMBER 1, 2010 |
- Danaos looks beyond crisis
WITH QUESTIONS finally answered on financing, Danaos Corp is gearing up to generate much higher revenues
- Brazil makes port arrests
POLICE in Brazil have arrested seven people in relation to the illegal importation of goods through two Brazilian ports
- Armada hunts Ashapura assets
ARMADA Singapore is moving to seize US assets of Indian mining giant Ashapura to collect more than $67M in London arbitration awards
- K-Sea stock hammered
SHARES of tank-barge operator K-Sea Transportation are today being clobbered for the second straight day, as investors await news on credit negotiations
- Some India sugar clots dissolved
DELHI'S moves to clear imported sugar consignments stuck at ports have partly succeeded
- Maersk: going slow is here to stay
DENMARK'S AP Møller-Maersk today said slow steaming to save money is here to stay as prospects for the global economy remain shaky
- Barclays unit targets shipping
A YOUNG equity business is making waves in the shipping industry as it pumps up its energy industry commitments and portfolio
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| SEPTEMBER 1, 2010 |
- Cost-Cutting USPS Begins Contract Talks
- Norfolk Southern to Cut Carbon 10 Percent in Five Years
- Canadian Trucking Costs Edged Up in June
- Air Freight Rate Index Falls 10 Percent in July
- MSC Returns Some Calls to Maher Terminal
- US to Update Transshipment Practices
- Budget Office Sees Highway Fund Secure to 2013
- SNCF Returns to Profit, Freight Recovers
- CMA CGM Swings to First Half Profit
- Commerce Secretary Outlines Export Control Changes
- Spot Rates Slip as Container Ship Capacity Rises
- US Manufacturing Index Expands in August
- Hamburg Attracts Feeder Services
- Shipowner Danaos Lost $14.7 Million
- British Retailer Sues Maersk for $13.9 Million
- China Manufacturing Keeps Growing in August
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| SEPTEMBER 1, 2010 |
- Argos sues Maersk
- APM T Aarhus and Cargo Service merge their berths
- US imposes new duty on Chinese aluminium
- Court upholds LA employee-only trucking mandate
- Mothballed tonnage scraping the bottom
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| SEPTEMBER 1, 2010 |
- Ridgebury closes in on IPO
Ridgebury Tankers ups the anti as UBS and Wells Fargo join Jefferies and Bob Burke in $341m road to Wall Street.
- Armada hunts arbitration award
Insolvent Singaporean shipping outfit brings $68m COA battle to Chicago courtroom.
- Cal Dive charters offshore trio
New York-listed offshore player pens $56m pact tied to Bahamas-based pipeline project.
- Harren hands over OIG seat
Former Ocean Rig chairman steals top spot from Peter Harren as OIG Offshore closes in on Norwegian IPO.
- CMA CGM sheds the red
Jacques Saade-led liner giant says cash injection still in the cards as 41% jump in revenue reverses first-half loss.
- Nanjing Tanker taps $750m war chest
Chinese tanker player on the fringe of inking $200m VLCC order as 'deep discounts' fuel fresh spending spree.
- Fredriksen loses tanker belief
Norwegian tycoon John Fredriksen predicts pain in the pocket for shipowners over the next two to three years.
- Eimskip holds profitable course
Restructured Icelandic container line turns around last year's losses in first half as second quarter volumes grow.
- Russian crew found 'drunk'
Wilson captain and coxswain taken away for blood tests after near grounding off Norway.
- Turkish ship sinks in Black Sea
Crew of Turkish vessel rescued before it sank hours after loading cargo at Romanian port.
- Torm bags new dry-bulk boss
Alex Christiansen arrives from Nidera to take over from Kim Rasmussen and the departed Soren Christensen.
- Wilson bulker bashed in Germany
Wooden pilings smashed and bow dented after vessel hit jetty at Cuxhaven.
- Crew lost in Korea smash
Search on for crew of fishing vessel which sank after collision with small tanker off Korea.
- Vinashin appoints new chief
Nguyen Quoc Anh is the latest executive charged with reviving ailing shipbuilder Vinashin.
- Tanker grounds off China
Crew evacuated from small products carrier after incident in bad weather in Yangtze estuary.
- Eidesvik ponders Green bid
Norwegian shipowner Kristian Eidesvik is mulling Green Reefers takeover offer after taking stake beyond 40%.
- Bangladesh owner in the red
State-owned BSC racks up first quarter loss as it prepares share sale.
- Severnaya surges back to profit
St Petersburg shipyard turns around first quarter losses with profitable second three-month period.
- Hapag poaches Maersk man
Danish line's Asia boss Jesper Praestensgaard to become chief commercial officer at German rival.
- Yangzijiang prices IPO high
Ren Yuanlin-led shipbuilder eyes full $113m as receipts for proposed Taiwan listing go for top dollar.
- Bourbon bitten by bulker sale
Impairment charge on 16-vessel deal with Genco lowers first half profit at French owner.
- Hanjin looks for 5,000 workers
Korean group's Philippines shipyard needs a lot more manpower this year as orderbook grows.
- 'Rogue ship' sought in Goa spill
Indian government vows to track down vessel suspected of dumping oil which washed ashore this week.
- Dockwise does dozen deals
Dutch heavy-lift player adds $37m worth of transport contracts to backlog.
- Wallenius eyes LNG power
Swedish shipowner to examine the possibility of using cleaner fuel for new and existing tonnage.
- Teekay Corp dropping down four
Teekay Corp ready to sell Petrobras chartered FPSO and shuttle tanker trio to a daughter company following fixtures fest.
- Danaos still in the red
John Coustas-led containership company books another quarterly loss, but vessel costs decline.
- Tuticorin eyes Sri Lanka ferry
Indian port trust wants to re-establish passenger link to Colombo.
- Crewman held on child porn charge
Indonesian steward arrested on Carnival Glory in Canada over laptop images.
- Tianjin stake buoys TPDH
Income from Tianjin Port stake lifts interim profits at Tianjin Port Development Holdings.
- China Merchants boosts Colombo
Chinese ports player joins venture to add three new terminals in Sri Lankan capital.
- OOCL keeps on raising
Hong Kong owner announces rate increase for both transatlantic and Southeast Asia to Australia routes.
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| SEPTEMBER 1, 2010 |
- Lidinsky proposes Shipping Act reforms
- Citi: Asian lines' profits drop 40% in '11
- CTSA lines to raise currency surcharge in Oct. 1
- Ensuring enforcement amid U.S. export reform
- BIS seeks input to avoid illicit transshipment
- U.S. ag exports to $107.5 billion in FY 2010
- FMC reviews 16 OTI license applications
- Del Monte to shift cargo from Camden, N.J.
- China Merchants in Colombo terminal deal
- U.S. grant for Brazil vessel traffic system study
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| SEPTEMBER 1, 2010 |
- Indian refiner offers second fuel oil cargo
Mangalore Refinery & Petrochemicals offers cargo for mid-October lifting.
- Prices falling in Rotterdam, Hamburg
Barge congestion in Piraeus until September 4, suppliers report.
- Fujairah prices lack direction
NYMEX showing gains of more than $2 in early trading.
- Sentiment catches up with fundamentals
Longer-term outlook to see economies shake off 'temporary funk'.
- Tallinn handling more Russian fuel oil
Volumes up year-on-year.
- Fleet operator explores switch to LNG
LNG 'will take us a step closer' to emission-free vessels' says Wallenius Marine.
- Brightoil expands Singapore fuel oil storage capacity
Chinese supplier now has 200,000 cubic metres of storage space in Asian hub.
- IFO prices weakening
Hurricane threatens to disrupt South Korean bunker operations.
- New bunker trader joins Dan-Bunkering Singapore
Comes with four years of experience from head office in Middelfart, Denmark.
- US Navy starts trials on route optimisation technology
Jeppesen technology allows vessels to save fuel and lower carbon emissions.
- New bunkering service at Colombian port
Bunker tanker will deliver to ships at Santa Marta.
- Korean bunker suppliers brace for typhoon landfall
Bunker deliveries from GS Caltex 'subject to weather conditions', says local trader.
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