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| MARCH 17, 2010 |
Shipping News
- Baltic index hits 2-month high
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, hit fresh two-month highs on Monday, but brokers said cargo demand needed to rise to maintain this momentum.
- Takeover of Forth Ports hinges on land bank
Undeveloped land owned by Forth Ports has emerged as the wild card in the company's valuation as a group of shareholders attempt to take Britain's last remaining listed port operator private.
Strait Talk
- A chance to quiz the experts
IN A WEEK'S time, the Singapore Expo should be buzzing as Asia Pacific Maritime (APM) 2010 gets underway. I suspect the organisers have been lucky with their timing.
Motoring
- NY taxi drivers fix meters to overcharge fares
About 3,000 taxi drivers here routinely overcharged riders over two years by surreptitiously fixing their meters to charge rates that would normally apply only to trips outside the five boroughs, according to the city's Taxi and Limousine Commission.
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| MARCH 17, 2010 |
- HK February up 20pc to 1.6 million TEU, Singapore rises 18pc
- Lay-ups diminish as slow steaming, recovery employ idle ships
- China Cosco forecasts rising rates for container shipments
- Xiamen starts dredging to accommodate 150,000-tonners
- Chinese export growth said tentative despite sharp upturn
- Taicang port's throughput up 34.9pc in first two months
- Singapore port fee concessions extended to attract shipping
- DHL expands in Japan with 38 Servicepoints to total 175
- Carotrans joins Freightgate Rate Network
- Shenzhen Airport's 2009 revenue up 9.7pc with more expected in 2010
- China Eastern to launch Qingdao-Nanjing-Singapore service
- Shenzhen Airlines increases Shenzhen-Singapore frequency
- Air China wants US$954 million in share sale to service debt
- Continental argues it would provide competition with flight rights
- Air France-KLM opts to publish all rates on OAG platform
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| MARCH 17, 2010 |
- Elliance Consolidation & Shipping CC, South Africa, appoints Wheels & Waves Logistics as agent in India
- Mercator Lines augments fleet
- Bharati Shipyard buys another 3 pc stake in Great Offshore
- 5th batch of IIFF-FIATA Dip. course in freight forwarding to start soon
- Pipelay barge Kuber gives Punj Lloyd Group competitive underwater edge
- Russia spots over $ 10-bn deals with India
- Cargo traffic gaining momentum at Major Ports
- Railways' first auto hub opened at Shalimar
- States urged to share 50 pc of rly project costs
- Flight from China's Chengdu touches Bangalore
- Capital goods, durables haul IIP to robust 16.7 pc growth in Jan.
- Infrastructure deficit hindering growth of economy-Nath
- No service tax on downloaded software
- India now 9th among Top 10 industrial nations-UNIDO
- 4 textile CoEs fast coming up
- Govt favours lower GST with wider base
- MSMEs role in higher GDP seen
- We'll act against banks overcharging on dollar credit-Sharma
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| MARCH 15, 2010 |
- No dangerous goods embargo during World Cup
The organising committee of the football World Cup that is taking place in South Africa in June and July has reassured the industry that there will be no embargo on transporting da...
- Logwin focusing on Solutions and Air + Ocean
The Grevenmacher (Luxembourg)-based logistics corporation Logwin generated a turnover of EUR 1.113 billion from continuing business operations (2008: EUR 1.408 billion). Cuts in pr...
- DHL extends contract with BP in UK
DHL Supply Chain has been awarded a four-year contract worth GBP 75 million to manage the UK warehousing and distribution of dry goods and chilled produce for BP's UK convenience r...
- Gillhuber lands new contract from BMW
The service provider Gillhuber Logistik is stepping up its collaboration in the logistics services sector with the German BMW group. From April this year, Gillhuber Logistik GmbH w...
- Rail Cargo Austria sees sales collapse
Rail Cargo Austria (RCA), the railfreight subsidiary of the Austrian state railway ÖBB, reported a EUR 500 million drop in sales in business year 2010. The result was not so drasti...
- CTL starts hauling Fiat cars from Poland to Germany
The rail service provider CTL Logistics began to haul Fiat vehicles from the Italian car maker's plants in Tychy (Poland) to Germany in February. An average of three full trains pe...
- Another Gottwald harbour crane for Suriname
Integra Port Services recently ordered another HMK 260 E from Gottwald Port Technology for deployment in the public terminal in the river port of Paramaribo (Suriname). This fourth...
- New MK Airlines handling agent in Johannesburg
MK Airlines, a UK-registered cargo airline operating a fleet of Boeing B747 freighter aircraft, has appointed Aero-Link Consulting as its handling agent in Johannesburg (South Afri...
- Across-the-board increases for Hong Kong airport in February
Hong Kong international airport's cargo throughput, boosted by strong Chinese New Year traffic, registered year-on-year growth of 30.1% in February, reaching 257,000 t. Imports jum...
- Santiago de Chile international airport again operating efficiently, says LAN
The Latin American carrier LAN Airlines has reported that Arturo Merino Benitez international airport in the Chilean capital of Santiago is once again operating efficiently, althou...
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| MARCH 16, 2010 |
- Officer charged in Queen of North deaths
- $8.28 million Navy award for BAE San Diego Ship Repair
- Management change at Aluminum Chambered Boats
- Governors urge offshore wind development
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| MARCH 16, 2010 |
- Punctuality of liner services slides to 53%
Drewry report finds only half of ship arrivals on time, despite spread of slow-steaming
- CSF and GNV forge ferries pact
Ferry majors enter into code-sharing agreement
- James Fisher revenues up 7%
Group revenues climb from '233.6m in 2008 to '249.6m in 2009
- TBS in talks to modify credit facilities
Company in discussion with lender as it reports 2009 loss of $67m
- Container charter rate spike bound to fall
Seaspan chief executive Gerry Wang expects volumes to come down to a normal level
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| MARCH 16, 2010 |
- Putin defends Arctic claim
PRIME Minister Vladimir Putin has defended Russia's claims to the shipping-vital Arctic continental shelf, IHS Global Insight reported today
- Optimism put back in the box
THE PERIOD market for box ships has been warned that the pick-up in timecharter rates should not be misread as a steady upward trend's beginning
- 'Cat fines' claims rising
CLAIMS against insurers from 'cat fines' are increasing, a marine investigator told a London conference today
- Clock's ticking for TBS
BULKER and 'tweendecker operator TBS International's loan-covenant waivers expire on 1 April, possibly forcing it to tap alternative financing to pay off debt
- Danger! Too much information
MARINERS are grappling with too many different chart and information manufacturers and too many onboard pieces of kit, an industry specialist said today
- Norovirus again for Mercury
US HEALTH authorities have urged Celebrity Cruises to get its virus-plagued cruise ship Celebrity Mercury into port for four days of inspections
- HSH sees 2011 turnaround
GERMAN shipping finance giant HSH Nordbank said today it expects to record profits next year after reducing its losses from €2.8Bn ($3.8Bn) to €679M last year
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| MARCH 16, 2010 |
- Shippers Seek New Analysis of Rail Technology
- More Truckload Owners Looking to Sell
- Court Allows LA Terminal Expansion
- Marseilles Fos Containers Jump 24 Percent
- China Eastern Acquires Great Wall Airline Stake
- TNT Express Launches Express Import
- Qantas Freight to Join Cargo 2000
- Kuehne + Nagel Wins Wine Distribution Contract
- Truck Repo Rate Drops 55 Percent
- HSH Nordbank Narrows Loss in 2009
- More Ocean Carriers Fall Behind Schedule
- Hanjin Expands E-Commerce Tools
- Seaspan Swung to Q4 Profit on Higher Revenue
- Ocean Carriers Boost Asia-Europe Capacity
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| MARCH 16, 2010 |
- Project Hope to convert containerships
- More carriers bring back services between Asia and Europe
- TCC plumps for LA
- Schedule reliability worse in Q4 09
- Transpac rates to 'double'
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| MARCH 16, 2010 |
- Petrobras pens LPG pair
Race ends as Brazilian oil giant awards long-term time charter contract to Maersk, brokers say.
- Big banks exercise options
Evangelos Marinakis' Capital Product Partners to pocket $4m as underwriters snatch up shares from public offering.
- Take the money and run
Analyst downgrades Fredriksen's Ship Finance International and urges clients to redeploy funds.
- TBS sits on the brink
Nasdaq-listed bulker and tweendeck owner fights to stay afloat as future becomes a 'going concern' for auditors.
- Titan sells single-hullers
VLCC pair Titan Chios and Titan Scorpio sold to mystery buyers for combined $30m.
- MMM lays off all staff
Entire workforce "retrenched" in voluntary scheme as tanker buy axed at Malaysian Merchant Marine.
- George Chao offloads cape
Wah Kwong Shipping of Hong Kong sells capesize bulker in $54.5m deal, brokers say.
- Wilhelmsen ship escapes
Car carrier Tortugas fired on and chased by pirates in Indian Ocean but avoids hijacking.
- Rauma yard bags state hand-out
STX Europe to pocket EUR 4m from Finnish government as "innovation support" to build research ship.
- George swells stake in DRYS
Greek owner George Economou sees holding in Nasdaq-listed DryShips grow to over 15% after stock award.
- Golar scraps Aussie LNG deals
Norwegian owner terminates Gladstone offtake and supply contracts as field changes ownership.
- Sevan given space on loan
Deutsche Bank and GIEK give Sevan Marine wriggle room on a loan as it looks to secure fresh work for an FPSO.
- Yang Ming finds buyers for bonds
Taiwanese container line to pay low yield on debt of 1.42% over five years.
- Officers blamed in Maersk grounding
UK report says poor planning and interaction led to Maersk Kendal running aground off Singapore last year.
- Milford Haven port strike off
Dispute over pilots' pension scheme resolved at Welsh oil terminal.
- IMO rejects cash crisis talk
London-based shipping regulator says it doesn't have problems getting money from member states.
- Somali pirates free tanker
Singapore-managed chemical tanker Theresa VIII and 28 crew released after four-month detention.
- Fisher's full-year profit up
UK shipping group comes through tough 2009 for tankers with increased profit thanks to expanded marine service divisions.
- HSH cuts loss for full-year
German shipping bank remained in red to tune of EUR 679m last year, but expects profit in 2011.
- Hellenic happy as net falls
Fotini Karamanlis is happy with Hellenic Carriers' full-year profit as its bottom line slumps by over 40%.
- Coscol ready to splash out
Heavy-lift and multi-purpose Cosco unit plans near $600m rights offer for 20-ship splurge.
- ALG set for summer bookings boost
UK cruiseship group says peak season business up 7% so far in 2010.
- Xiamen port profit to fall
China's Xiaman International Port says it expects to report 'substantial reduction' in full year results.
- MPA stretches port stays
Singapore's Maritime and Port Authority extends port dues concessions for another six months.
- Maersk ship joins US Navy
Danish shipowner's American arm ties-up tasty ten month charter with US military at juicy rate.
- Far East criuse tie-up
Singapore Cruise Centre ties up with Danang Port Holding in bid to boost local cruise facilities.
- Petrobas takes AHTS pair
Malaysian offshore vessel operator inks charters worth MYR 114m from oil major Petronas.
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| MARCH 16, 2010 |
- Capacity boost coming to Asia/Europe
- CMA CGM considers outside investment
- Drewry: Slower doesn't mean on time
- USTR to combat more non-tariff trade barriers
- Report: Foreign turbine makers nab grants
- Va. terminal privatization could be on hold
- COSCO Pacific February volume up 27%
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| MARCH 16, 2010 |
- Number of idle container ships falls
The number of idle containerships continued its slide over the last two weeks with 474 units, 1,22 million TEU in total, recorded to be idle on 15 March, according to
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| MARCH 16, 2010 |
- South Korea's plan to introduce next generation ships by 2015
Early implementation of new technologies such as fuel cells give country's shipbuilding industry a competitive advantage.
- Prices fall across Europe
Meanwhile, NYMEX showing gains of more than $1 in early trading.
- Compass appoints two new bunker brokers
Susanne Newman has vast experience and knowledge, while Darren Middleton will add value to German customers.
- Prices weaken in Fujairah, Durban
Good avails and demand in Fujairah.
- Ecospec presentation will be held in Vancouver
A chance to find out more about this revolutionary new scrubbing technology.
- Singapore power plants burning more fuel oil
Reports say Indonesia is cutting exports of natural gas.
- Market analysis: Bunker price gap to crude widens
March seeing bunker prices lag behind increases in oil values.
- Polar Tankers agrees to pay $588,000 for 2004 oil spill
Settlement funds will be used to restore Puget Sound.
- Fujairah bunker prices fall closer to Singapore
Saudi Arabian refinery offers second 380 cSt fuel oil cargo in two days.
- Singapore 380 cSt price at five-week low
Both prices and demand weak at other key Asian ports.
- CSAV sees 47.4% increase in February box volumes
Total volumes lifted for the year-to-date higher than the corresponding period in 2009 and 2008.
- South China to see lower March fuel oil imports
On the back of a slow recovery in the bonded bunker market.
- Will CSNOx system be 'silver bullet' for the shipping industry?
By allowing operators to continue using cheap heavy fuel and still meet the most stringent emissions regulations.
- KPI Bridge Oil appoints Chief Accountant
Samantha Ngo has seven years of experience working in the bunker industry in Singapore and Asia.
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