|OCTOBER 5, 2011|
- Baltic index falls for 5th day; outlook softer
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell for a fifth session on Monday as slower cargo business and recession fears weighed on sentiment.
- Cook's qualifications are on the MLC menu
OWNERS may be excused for thinking they have enough on their plate right now in just trying to survive in these increasingly difficult times. When the banks are making worrying noises about their loans, freight rates are on the floor and credit periods for eye-wateringly expensive bunkers shrink all the time, it is difficult to pay much attention to the International Labour Organisation's (ILO) still unratified Maritime Labour Convention 2006 (MLC).
- Gujarat rolls out red carpet for carmakers
Along a dusty, traffic-choked road in the western state of Gujarat lies what may be India's industrial future.
|OCTOBER 5, 2011|
- Idle box fleet rises to 156 ships in September against 128 last year
- Maersk swallows Safmarine, cuts headcount by 240, but retains brand
- Australian container ports face strikes, go-slows, overtime refusals
- 'K' Line and MOL forecast major decline of shipping in coming quarters
- Hunan province's transport volume up 14pc in first seven months
- New expressway opens for traffic in north eastern Liaoning province
- Maersk adds Malaysia-Mozambique calls as African trade increases
- Hamburg docks Grimaldi's new box-ro/ro ship on West Africa service
- Trucker's rule to stop sexual harassment ends in sex discrimination charge
- Industrial boom draws Panalpina to open Jaipur branch in northern India
- Mass pilot retirement sparks bankruptcy fears for American Airlines
- Costs mount to US$2.6 million for losing China hub bidder MidAmerica
- E-freight and security are the biggest challenges to air cargo: Tony Tyler
- US Federal Aviation Administration delays imposing pilot fatigue rules again
|OCTOBER 5, 2011|
- Containerships to gain increasing market share from specialist reefer vessels: Drewry
- GE Shipping contracts to sell general purpose product carrier
- Shantanu Bhadkamkar elected FFFAI Chairman for 2011-13
- Sravan Shipping sets new record at Vizag Port
- Super megaships will not flood market, says line official
- India may export petro products to Pak
- Kandla Port adjudged Major Port of the Year at MALA 2011
- Exports surge 44.2 pc in Aug., imports up 41.8 pc
- Govt mulling sops for SEZs in economically backward areas
- India, China agree to boost investment climate
- GJEPC unveils new logo
|OCTOBER 4, 2011|
- Four Kalmar ship-to-shore cranes for West Africa
Cargotec has received an order for ship-to-shore cranes from Frrance's Bollore group, through its wholly-owned Unicaf subsidiary. The contract is for a total of four Kalmar ship-to...
- Arik Air connects Lagos with Luanda
With today's launch of a twice weekly Lagos - Luanda service, Nigeria's Arik Air has become the latest carrier to enter the Angolan market...
- New Rail line between India and Bangladesh planned
The Indian government has approved a new rail line to Bangladesh. The 15 km line costing INR 2.76 billion (about EUR 41.4 million) will connect Tripura's capital Agartala in India ...
- PACCAR selects DAF Brasil factory site
PACCAR a global technology leader in the design, manufacture and customer support of light-, medium-, and heavy-duty trucks under the DAF, is to invest USD 200 million in a new DAF...
- New secure truck parking opened on Russian border with EU aid
Vice president Siim Kallas, commissioner for transport, inaugurated on 2 September a secure truck parking in Sillamae/Estonia near the Russian border crossing at Narva-Ivangorod. I...
- UGL secures USD 88 million in supply and maintenance projects
UGL Limited, an engineering, maintenance and facilities management company in Australia, has won two new orders worth USD 88 million to supply and maintain new rail freight locomot...
- AirBaltic shareholders agree to inject more than EUR 150 million
The shareholders of Latvia's national airline AirBaltic agreed to finalise technical details by today, 4 October, for the injection of EUR 153 million in new capital financed by it...
- Lamprecht in Basel promotes two employees
The executive board of Lamprecht Transport, Basel, has promoted two of its management board members, Patrick Grünig, head of finance, and Jörg Zimmermann, head of European traffic,...
- Maersk Liner Business to integrate Safmarine into Maersk Line
Safmarine yesterday announced plans to integrate its internal support and management functions into those of its affiliate Maersk Line. While the Safmarine head office is set to cl...
- New sluice at NBC near Brunsbüttel?
A possible raising of the German Federal Transport Ministry's budget might also benefit the ailing sluice facility on the North-Baltic Sea Canal (NBC) near Brunsbüttel, Germany. Wi...
- Rhenus opens logistics centre in Weil am Rhein
German logistics services provider Rhenus recently opened its huge new logistics centre in Weil am Rhein, Germany. In the presence of some 150 invited guests and guests of honour f...
- Kerry Logistics breaks ground with regional logistics hub in Singapore
Logistics service provider Kerry Logistics has started constructing its Asia regional logistics hub in Singapore. The four-storey facility has a total area of 34,500 sqm and will s...
- Barloworld Logistics celebrates 10th anniversary
Barloworld Logistics is part of a 109-year-old South African conglomerate, Barloworld. Ten years ago Barloworld decided to open its supply chain expertise to the world. Over the la...
- China Southern becomes Cargo 2000's first member in China
Guangzhou-based SkyTeam Cargo member China Southern Airlines, which operates a fleet of five B777-200F and two B747-400F and plans to introduce a further B777-200F by the end of 20...
|OCTOBER 4, 2011|
- Caterpillar to power 16 newbuild Brazil market OSV's
- GulfMark Offshore orders three more PSV's
- Teignbridge Propellers to establish Dubai manufacturing base
- Huntington Ingalls says LPD 22 builder's sea trials went well
- Jurong Shipyard books US$99 million FPSO conversion project
- ICS says IMO CO2 levy on fuels could help ports cope with climate change
- Marinvest tankers take Northern Sea Route option
|OCTOBER 4, 2011|
- Washington international trade council praises President for backing FTAs
- NYK-TDG Maritime Academy graduates first class of students
- Maersk Line to absorb Safmarine management functions
- Federal grant dollars earmarked for Oregon exports
- Boeing predicts 7,530 new planes for North American air carriers
|OCTOBER 4, 2011|
- Ferries ditching lifeboats
Increasing number of vessels have chutes and liferafts instead, with P&O leading the way
- Kudos for the Netherlands
Report on pirates offers a solution that does not violate laws of states ' and will work
- Genmar's fate rests on $300m bond series
Tanker owner has until December to make 'arrangements' over $18m interest payment
- Fixed-premium facilities could win in International Group review
Clubs operating outside the IG's agreement may benefit from a European ruling against the group
- A scrapping regime? Don't hold your breath
Enforced scrapping could mitigate overcapacity
- Ro-ro operators try to find ways to avoid low-sulphur fuel bill
Industry will face stiff competition from truckers when its costs skyrocket in 2015
- Is an industry restructuring under way?
Pressure on box lines has translated into early signs of retrenchment
- Horizon set to close refinancing deal on Thursday as hurdles cleared
Noteholders give their consent to remove 'substantially all restrictive covenants'
- Ballast water convention wins support of 30 IMO signatories
First of two requirements met for enforcement to begin at the end of 2012
- Aframax chartering reaches fever pitch as charterers fear further delays
Vessel congestion in Turkish Straits cuts ship availability, driving up aframax rates
- Nato anti-piracy chief warns of renewed attacks
Pirate groups operating already in the Indian Ocean, Arabian Sea and Gulf of Aden as monsoon season ends
- Maersk price estimates cut by 25% for two years to reflect volatile market
SocGen said carrier underperformed by 20% over past year but says it is still undervalued
- UK regulator accepts Solvency II delay
European directive will be pushed back to 2014 but questions remain over implementation model approval
- Giant containerships to force rethink of marine cover
Fears that insurers will be left exposed while seeking cover for huge 18,000 teu vessels
- Larger cruiseships face higher risk of terrorism
Passenger numbers of 6,000 or more present increased exposure for marine war market
- P&I clubs could demand manual navigation skills from crew
Fear of over-reliance on Ecdis could force flight to traditional skills
- Economou aims for eventual full-fledged LNG carrier operation
Owner confirms secondhand acquisition of Muscat LNG
- Fitch to revise its Sovcomflot outlook
Market fears downgrade
- Philippines rebels blow up cargoship
Coastguard warns of bunker spill danger after Aleson Concarrier 7 is sunk during attack on mining complex
- Aframaxes set to benefit as Libya moves closer to boosting oil exports
Vitol still touted as charterer seeking early shipments, with Total rumoured to be showing interest
- SITC makes first move into dry bulk sector
Brokers call the company's orders a 'brave' move as panamax rates flounder
- Ecsa plans EU push to lighten officers' paperwork to end 'appalling situation'
European ports urged to find ways to streamline administration processes
- Chinese steel output declines
Dry bulk shipping set to avoid impact as Chinese steel production still at high levels
- Contractor named for loss-making Dundalk Port
O'Hanlon & Sons Contractors to be responsible for all commercial and operational matters
- London Gateway terminal to open in fourth quarter of 2013
Up to 1,000 jobs will be created in first few months, with 36,000 generated indirectly
- Exclusive: Opec warns on piracy but rejects 'dangerous' use of armed guards
In an exclusive interview, secretary-general Abdalla Salem El-Badri highlights concerns
- Eitzen Maritime Services looks to raise $70.8m by year-end
Proposals include private placement, a debt conversion and talks with potential investor
Clarification on Neorion and Elefsis Shipyards blog
- Box lines' data confirms weak Asia-Europe peak season
Modest upturn in August appears short-lived
- Opec on piracy
Shipowners welcome a dawning awareness that piracy's escalating harm could hobble efforts to ensure stable oil supplies
|OCTOBER 4, 2011|
- PIL seeking to privatise PST
SINGAPORE'S Pacific Shipping Trust said today major shareholder PIL plans to delist and privatise it
- 'Giants'-on-Thames before 2014
LONDONERS can expect to see the ghost of Christmas future while holiday shopping in December 2013: 18,000teu ships transporting containers full of consumer goods on the Thames River
- Elephantine box ship trend burgeoning
A 'BIGGER is better' ethic has claimed new primacy in the box newbuilding sector, as the average size of new container ships has doubled this year, a new report said today
- OOCL repeats S&P juggle
JUST TWO weeks after selling four 5,000teu ships en bloc to Greece's Technomar, Hong Kong's OOCL has reportedly sold four more to Diana Containerships
- GenMar concedes Chapter 11 is an option
GENERAL Maritime is now openly admitting what its stock price has long implied: it might need to file for Chapter 11 bankruptcy protection
- Debt trap warning sparks SCI share dive
SCI'S SHARES have fallen 14% in two days of trading, hitting 52-week low today at 72 rupees ($1.50) on Bombay Stock Exchange
- Oz drybulk cargoes boost trade surplus
SURGING coal and iron ore shipments have helped Australia record its second-biggest monthly trade surplus, government figures indicated today
- Europe's tanker shares drop
SHARES in tanker companies listed on European exchanges fell today on generally weak markets
- Maersk absorbs Safmarine management
MAERSK Line is taking the management functions of Safmarine under its wing, but Safmarine will continue operating under its own brand
- Seafarers face drug trial
SIX MARINERS are scheduled today to appear in court in St Lucia to face charges of drugs, arms and ammunition smuggling
- Greek dockers to join nationwide strike
GREEK dockworkers plan to participate in tomorrow's nationwide general strike
- MR optimism rising
RECENT recovery in rates for MR product tankers has triggered mild optimism among shipping analysts and brokers
- Refinery fire's blowback minimal so far
BROKERS and MR product tanker operators told Fairplay today that Shell's declaration of force majeure on some shipments from Singapore has yet to affect the market
- Scrapping prices slip
RISING jitters about the global economy are sending recycled ship prices down again, with yards dropping offers by up to $20 per ldt since 23 September
- DryShips falls below $2
GEORGE Economou's DryShips briefly traded under $2 per share today as heavy selling pressure yet again besieged US-listed shipping stocks
|OCTOBER 4, 2011|
- Study Shows Slow Steaming Doesn't Hurt Engines
Slow steaming, a practice that ocean carriers adopted during the last four years to save on bunker fuel costs, is...
- Truckload Carriers to Keep Capacity Flat
Fewer truckload carriers are planning to add capacity next year than had planned to do so six months ago, according...
- Congressional Backing Grows For Prince Rupert Study
More congressional members are calling for the Federal Maritime Commission to investigate whether the Canadian government unfairly subsidizes the diversion...
- West Coasts Imports Down 7 Percent
Containerized imports moving through West Coast ports in August declined 7 percent compared to the same month in 2010 while...
- Survey Says Logistics CEOs Bullish About Future, Asia
The CEOs of most logistics providers are bullish about the financial prospects of their companies over the next one and...
- Lidinsky Discusses Concerns Over Cargo Flow From US to Canadian Ports (Video)
Richard A. Lidinsky, Chairman of the Federal Maritime Commission, sits down with the JOC at the Canadian Maritime Conference to...
- Cathay Freight Tumbles 9.7 Percent
Cargo traffic at Cathay Pacific Airways fell 9.7 percent year-over-year in August and the carrier said demand remained weak into...
- Hume's Reaction to Canadian Rail Report, Reregulation Claims (Video)
Forrest C. Hume, an attorney with Forrest C. Hume Law Corp., shares his thoughts regarding Transport Canada's report on rail...
- Diesel Prices Fall to 30-Week Low
Diesel prices across the United States dropped 3.7 cents in the week ending Oct. 3., hitting a 30-week low as...
- Ship Order Book Dominated by Ultra-Large Vessels
Almost half of all containerships on order are for capacity of more than 10,000 20-foot equivalent units and the average...
- India's Krishnapatnam Begins Container Service
The Port of Krishnapatnam's start of container operatios in late September positions the Indian port as an alternative to the...
- DP World's London Terminal to Open Late 2013
DP World said its London Gateway deep-sea container port will start operations in the fourth quarter of 2013 with an...
- Russia's Fesco Boosts Revenue 27 Percent
Fesco, owner of Russia's largest ocean carrier, boosted revenue by 27 percent in the first six months and forecast an...
|OCTOBER 4, 2011|
- DP World's London Gateway to open in 2013
- Felixstowe squeezes in another rail service
- TPT to boost Durban's productivity
- New customs clearance system in Port Qasim slows cargo flows
- ND enters South America
|OCTOBER 4, 2011|
- Evercore initiates tanker duo
Jonathan Chappell tosses shares of Capital Product Partners and DHT Holdings on top of tanker market playbook.
- Peter G's prudent move
Analyst applauds General Maritime chairman's decision to part ways with 4.9% profit interest in Oaktree bailout entity.
- Russia mulls guarantees
Government could provide RUB 180bn of backing for four United Shipbuilding Corporation yards this year.
- Study backs slow steaming
Slow steaming poses no danger to engines paving way for reduced speed, says new research.
- NATO issues piracy warning
Bandits back in action in the Indian Ocean, Arabian Sea and Gulf of Aden following end to monsoon season.
- Cyprus to okay guards
World's tenth-biggest flag state preparing legislation to allow armed security personnel on its vessels.
- Cool heads for Genmar
Tanker operator must look for creditor agreement to stay above water.
- No line to buy Genmar
Difficulties in the tanker market mean the usual suspects would struggle to put a bid together, analysts say.
- Cantor: Sell Genmar
Cantor Fitzgerald says General Maritime is running out of time as it tells investors to offload shares.
- Marinvest braves NSR
Swedish owner sends two LR1 tankers through arctic ice, saving at least $700,000 on fuel.
- Storm strikes Genmar stock
Struggling tanker owner sees share price backtrack after warning it may file for bankruptcy.
- EMS strikes deal on debt
Norwegian maritime services outfit looks beyond debt impasse with bondholder offer.
- Four to fail
Norton Rose's Harry Theochari says consolidation talks on as US-listed tanker and bulker owners face bankruptcy.
|OCTOBER 4, 2011|
- October Editorial
- MarAd gets earful
- Calls for strict enforcement of cargo preference
A parade of shipping executives and union officials called for maintaining and strictly enforcing the nation's cargo preference laws at a public meeting on Monday in Washington with officials from the U.S. Maritime Administration. Speaker after sp...
|OCTOBER 4, 2011|
- Fujairah prices fall
Deliveries available for supply up to and including October 18 in Cape Town.
- Rotterdam prices continue to soften
Strikes in Piraeus on Wednesday.
- KPI Bridge Oil appoints trader for its London office
Evandro Cavalli has worked with oil major in trading operations.
- Relocation for Danish supplier
Malik Supply at new address as of October 1.
- US Supreme Court asks for guidance on bunker rules
Challenge to California's clean air regulations goes to US Solicitor General.
- Maersk study eases concerns of slow steaming engine damage
Use of slow speeds to cut fuel use expected to spread, but company not in favour of obligatory speed restrictions.
- Bunker prices fall as new tax regime begins
St. Petersburg prices tumble as export duties rise.
- Price of IFO continues fall from start of week
Demand for bunkers largely healthy at major Asian ports on Tuesday.
- Vessels avoiding piracy-infested routes could boost bunkering in Kochi
Ministry of Shipping official suggests Kochi can emerge as a bunkering hub due to the increasing number of ships passing closer to the Indian coast.
- Bunker prices 'add insult to injury'
'Situation is extremely grim,' says President of NYK.
- Second vessel from shipping firm to transit NSR passage
Voyage saves vessel 18 days and 580 mt of bunker fuel, says Marinvest.
- Improved weather permits limited bunkering in Hong Kong
'Very rough seas' at outer anchorage.
- South China fuel oil imports down in September
South China imported approximately 230,000 mt of fuel oil in September.
- Restructurings, bankruptcies in sight for shipping firms
Tanker and dry bulk markets more vulnerable than the box ship