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| AUGUST 30, 2010 |
Shipping News
- India aims to triple port capacity
India, Asia's third-biggest economy, plans to triple port capacity within a decade, as it tackles infrastructure deficiencies that threaten to dampen growth.
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| AUGUST 30, 2010 |
- Major China carriers urge industry to limit capacity
- MSC hikes south east Asia-Australia rate US$300/TEU October 1
- Arrival of 'huge' 8,500-TEU ship amazes downtown Savannah
- Wuhan cargo throughput up 27pc in the first half
- Guangxi invests US$3.43 billion in transport infrastructure
- RCL to cooperate with Beibu Gulf International Port Group
- Singapore to build two overpasses to upgrade Woodlands artery
- Damco to spend US$4 million on Vietnam logistics hub
- Lyttelton CT at Christchurch up 5.3pc to 273,789 TEU a year
- CEVA to provide home delivery services for Pet Line in HK
- Southern Asia Ports fair to be held in Mumbai September 16-17
- World Cup fails buck up South African GDP beyond 3.2pc
- Asia Pacific air cargo on track to restoring profitability
- Agility quarterly profit falls 50pc to US$71.97 million
- Aerologic freighter takes to the skies with women pilots
- IATA calls for effective Australian airport rules
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| AUGUST 30, 2010 |
- ABG Shipyard sells 4.66 pc stake in Great Offshore
- Greatship Global takes delivery of PSV
- IIFF to begin FIATA Diploma in Freight Forwarding soon
- Coir exports stretch by robust 65 pc in July
- Pakistan to buy Indian sugar
- Silk to be imported from China
- Spice exports head north
- Another feather in MICT's cap
- GPPL IPO subscribed over 19 times
- S. R. Kulkarni in ITF Fair Practices panel
- Temporary port disruption may impact Aug. soyameal exports
- Apeejay Surrendra Group & Eredene Capital flag off operations in 2 logistics parks in W. Bengal & Orissa
- Nabros Transport notches new landmark in project cargo handling
- Pune CHA Assn holds training session
- 30 pc space in industrial estates reserved for MSMEs
- Cabinet clears Direct Taxes Code Bill
- Forex fund cannot be used for infra growth, asserts RBI
- FTA with Malaysia likely by Dec.'Khullar
- GST regime faces further delay
- Maharashtra prepares to reap benefits of industrial corridor
- Minister rules out ban on iron ore exports
- MPEDA launches quality logo for seafood exports
- Reliance Power to get $ 917-m US Exim Bank loan
- SEAI happy at inclusion of seafood sector in EPCG scheme
- Visa fee hike can hurt US-India economic ties'Krishna
- India committed to 16-country regional economic ties'Sharma
- Moderate recovery vital to prevent fresh US crisis'IMF
- S. Africa lobbies to join BRIC grouping
- WTC to come up even in Bangalore
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| AUGUST 26, 2010 |
- Azkar acquires ACL in Spain
The Spanish transport and logistics provider Azkar has improved its portfolio by acquiring Cargo Aerospace Logistics (ACL), thus entering the ground handling market. ACL is in char...
- Plimsoll and Europhia join executive search forces
Plimsoll and Europhia Consulting have signed a strategic partnership deal for China, Singapore, Belgium, the Netherlands and Luxembourg. In this relationship the companies will coo...
- Bosch T'rkiye extends collaboration with Ekol Lojistik
The Turkish enterprise Ekol Lojistik has extended its cooperation agreement with Bosch T'rkiye by three years. The two partners have been collaborating on imports to Turkey for two...
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| AUGUST 29, 2010 |
- Horizon Shipbuilding wins $8.6 million Corps towboat order
- USCG issues safety alert to AIS users
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| AUGUST 27, 2010 |
- Oregon Goveror announces funds for Coos Bay rail line improvements
- US rail freight traffic hits high mark for year
- Cal Maritime receives giant ship's propeller
- Newport Port Commission eyes International Terminal project progress
- New superintendent named for US Merchant Marine Academy
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| AUGUST 27, 2010 |
- HSH Nordbank rules out new shipping business
German ship finance giant halts lending to shipping citing market expectations
- Ship finance banks tread cautiously
- Container lines bounce back after 2009 losses
- Recovery must prove its mettle
- Second quarter profits surge at Frontline
Strong performance for Fredriksen tanker giant but third quarter problems are on the...
- TMT takes a super-sized gamble
- DSME to build eight chemical tankers for $320m
Deal with Woodside Holding marks the first time DSME wins order for medium size...
- Flagging move seeks to offset Brazilian anger
- Joe Angelo to head Intertanko
Tanker body announces replacement for outgoing managing director Peter Swift
- Europe in turmoil over 0.1% fuel sulphur...
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| AUGUST 27, 2010 |
- Seanergy to buy Restis stakes
SEANERGY confirmed today that it will fully acquire two companies it holds partial interests in ' Bulk Energy Transport and Maritime Capital Shipping
- LA bans trucks, shippers suffer
SHIPPERS will shoulder the burden of extra costs as Los Angeles port bars independent truckers from hauling boxes in and out of its terminals, Fairplay was told today
- Pipavav IPO proves major success
INDIA'S Pipavav Port's initial public offering was oversubscribed by around 20 times thanks to an overwhelming response
- Watchdog fights piracy with owners
ANTI-PIRACY watchdog ReCAAP today said it has signed an MoU with the Asian Shipowners Forum allowing it to forge ahead with its work combating piracy
- Thailand's TTA plans M&As
THAILAND'S dry bulk carrier Thoresen Thai Agencies confirmed to Fairplay today that it expects to complete one, maybe two, M&A deals this year
- DCT Gdansk cements Asia ties
DCT GDANSK, Poland's container terminal, has strengthened its ties with Asia with a new shipping connection
- Maersk seeks new loan
DENMARK'S AP Møller-Maersk is reportedly preparing a syndicated, five year multi-billion dollar refinancing loan
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| AUGUST 27, 2010 |
- Environmental Groups Praise Clean Truck Decision
- Air China Cargo Revenue Doubles
- Savannah Port Gets Record Ship Call
- ANA Ramps Up Regional Freighters
- Trucking Group to Appeal LA Ruling
- Maersk Resumes Port Nehru Calls
- Judge Rules LA Port Clean Trucks Plan Can Proceed
- Deeper Trade Gap Drives Lower GDP Estimate
- Maersk Confirms Trans-Atlantic Rate Hike
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| AUGUST 27, 2010 |
- Row brews over Irish rating downgrade
- Sea-Axis still positive about demand
- HPH to phase in tractors
- Ferrin stands down as ceo of JPA
- COSCON posts strong H1 results on back of cargo surge
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| AUGUST 27, 2010 |
- Pirate stung twice in US
Somali swashbuckler charged in Clipper hijacking case moments after owning up to botched attack on US battleship.
- Front dusts down its cheque book
Consolidation king John Fredriksen looks to be back on the acquisition trail with Frontline.
- Fruit trader hunts box players
Mango madness puts CSAV and Hamburg Sud containerships in trader's crosshairs as fruit fracas lands in federal court.
- Jensen: 'Contango will return'
Demand for VLCC storage contracts is picking up, which will help a market in which it's best to let your crew go fishing right now, Frontline chief says.
- Seanergy swelling fleet with buys
Victor Restis-connected bulker owner paying $62m in cash and shares to take full control of two companies.
- Blount in Casco Bay replay
US yard set to pocket $3.5m as Casco Bay Lines splashes federal funds to bankroll ferry newbuilding.
- Conrad seals LPG barge deals
Shares in OTC-listed shipbuilder soar 10% as backlog breaks $70m.
- Malm Justad out of EMS
Axel Eitzen put in as new chief executive of Eitzen Maritime Services after sudden departure of Annette Malm Justad.
- Deep Sea fixes into Brazil
Norwegian owner reduces spot exposure with two Maersk anchor-handling deals.
- STX snares another Island deal
Europe's largest shipbuilder wins $140m PSV order from long-standing customer Island Offshore.
- Quotes of the week
Michael Skov is fighting fit as he pedals back into the industry and a new P&I outfit says it's not writing fiction.
- Australia planning new ports
Terminals needed in Spencer Gulf as 24 more mines expected to open in near future.
- New5 in Numb3rs
Clarksons is chasing commissions in court while Norwegian tanker owners are swapping ships.
- Stocks not socks for Marsh's kids
Braemar boss Alan Marsh repeats party piece buying 10,000 shares for his children.
- Profits jump at Frontline
John Fredriksen-controlled tanker player sees income jump nearly three-fold on a year ago.
- Rem Offshore profit slumps in Q2
Failure to repeat last year's bumper income from asset sales leads to sharp fall in profit at Oslo Axess-quoted owner.
- Guangzhou adds yard space
Chinese builder in $13m rental of plot in Jiangsu to solve order bottleneck and attract larger tanker orders.
- Hapag-Lloyd hunts bond sale
German container line linked to EUR 500m debt issue in more favourable markets.
- Shih Wei slides in first half
Taiwanese bulker owner's revenue increases, but income from investments sharply down.
- ITC sees profit dip in Q2
Frontline spin-off's bottom line shrinks following ship sale and debt payments.
- Spot of bother at Golar Energy
Norwegian LNG player hurt in first half by over-tonnaged markets and higher costs.
- China Cosco readies $735m bond sale
Ten-year bond sale part of larger plan by China Cosco Holdings to repay debt and fund expansion programme.
- Passengers rescued from ferry
Authorities evacuate 138 people trapped overnight on Indonesian vessel off Bali.
- First-half tank tonic for Vopak
Dutch oil storage player has increased earnings as capacity expands in 2010.
- Angelo steps up at Intertanko
Deputy chief and former USCG man to take over from retiring Peter Swift at tanker owners' organisation.
- Opec cutting crude shipments
Refinery maintenance season means slowdown for tanker cargoes to middle of September.
- Maersk presses on with rate rise
Unsatisfactory Atlantic box business means Danish owner will hike rates in fourth quarter, with more rises to come.
- Glencore profits up 42%
Ivan Glasenberg-led commodities giant sees interim profits jump on improving global economy.
- Golar ups divi despite loss
Oslo and US-listed LNG player increases dividend to shareholders with promise of more to come.
- ICG profit gets volcanic boost
Irish Ferries owner sees profit rise in first half as passenger numbers increase on closure of European air space.
- Bourbon in Aussie fix
Offshore player's joint venture with Oceanteam wins three year charter for DP2 construction vessel.
- Lower revenues dent Alam
Weaker performance in two main business segments hurt Malaysian shipowner in second quarter.
- Daewoo confirms gas deal
Korean shipyard to pocket $320m for eight ethylene carriers ordered by new Singapore investment vehicle.
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| AUGUST 27, 2010 |
- Zim earns profit as rates, volumes rise
- EU probes vessel P&I industry
- Angelo to replace Swift as Intertanko chief
- Nigeria cleared for takeoff to U.S.
- JAL downsizes cargo operations
- Carstens named new UPS Singapore head
- Intermodal traffic continues rebound
- Ryan named president of Freight Handlers
- Greenbrier: Demand grows for 53-footers
- Commerce to strengthen AD/CVD oversight
- Toll profit rises 7% in fiscal year
- Clark heads marketing at Savi Technology
- Age lowered for U.S. broker license test
- FMC investigates alleged misdescription
- Judge sides with L.A. port on truck plan
- Ferrin steps down as Jacksonville port chief
- China Merchants names new president
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| AUGUST 27, 2010 |
- EPA proposes extended no dumping zone
The EPA, United States Environmental Protection Agency, proposes an extended no-discharge zone for California. The ban will prohibit sewage discharges from all vessels above 300 tons, including cruise and
- Bulker takes the Northern route to China
The Danish-owned bulk carrier Nordic Barents is the first non-Russian flagged vessel to sail through the Northern Sea Route. The vessel departs from Kirkenes at the beginning of
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| AUGUST 27, 2010 |
- Volatile crude gives bunker markets a rollercoaster ride
Narrow trading range, but plenty of price movement.
- End of week sees further gains
'Choppy' market activity predicted for next week.
- Bunker prices firming across the board
Rotterdam market activity 'terribly quiet', players say.
- Fujairah prices still firming as week ends
Sharp gains in Suez.
- Lintec finds 7.5% of tested ECA fuels above 1.00% sulphur limit
Figure falls to 2.5% if 'grey area' test results are taken into account; potential conflict with stricter IMO sulphur verification procedures.
- Failure to secure fuel contracts leaves owners exposed
Drewry Shipping Consultants says that without contracts 'budgets can be blown to the four winds'.
- Bunker spill at Australian coal terminal
Transport Workers Federation says spill highlights dangers of 'flag of convenience' vessels.
- INTERTANKO names next MD
Joe Angelo to succeed Peter Swift, Kathi Stanzel appointed Deputy MD.
- Prices mostly firmer Friday
Demand at major Asian ports mainly below average.
- Glencore sees profits soar
Chemoil's majority shareholder sees H1 profits climb 42%.
- Sinopec Zhoushan to triple bunker sales at Shanghai by year-end
Plans to start supply of MGO product in early October.
- Slight dip in South China fuel oil inventories
Volumes forecast to increase during the current week.
- Bonded MGO supplies 'very tight' at Mumbai and Jawaharlal Nehru
Only 15 mt of MGO avails left in local storage facilities, says trader.
- New bunker trading platform sees first physical delivery
'Historic moment' for NR-X, the shipping industry and the marine fuel industry, says company director.
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