|FEBRUARY 16, 2011|
- Rates for shipping Mid-East crude to Asia up 4.9%
The cost of delivering Middle East crude oil to Asia, the world's busiest route for supertankers shipping two million-barrel cargoes of oil, gained for a 12th consecutive session on Monday as Chinese demand strengthened.
- US Navy adds 5 ships to 6-year building plan
The US Navy has added five ships to its six-year shipbuilding plan, proposing to spend US$74.7 billion for 55 ships through fiscal 2016, according to the fiscal 2012 budget.
- Bonds of Indian shipping firms slump as freight revenues fall
Yields on the bonds of India's biggest shipping companies are rising to records as the nation's corporate borrowing costs surge and freight revenues slump because of a glut of vessels.
- No pre-testing of bunkers, for now
LAST week's column was concerned with an issue which the International Maritime Organization (IMO) has yet to resolve and needs to do something about urgently - lifeboat accidents.
- Obama plans big boost for transport spending
President Barack Obama proposed a 16 per cent transportation spending increase for fiscal 2012 while tying spending on many highway, aviation and rail programmes to Congress passing a multiyear funding bill.
|FEBRUARY 16, 2011|
- Rates wobble as robust forecasts clash with low utilisation
- Trade talks fail, US presses for WTO arbitration over tariff
- China's railway minister sacked for 'severe disciplinary violations'
- Tanger Med Port's throughput rises 70pc in 2010
- NYK holds winter safety programme for ships crew
- Troubles plague DP World Cochin first transshipment box terminal
- US truckers had good year, but new safety rules will ban drivers
- World's biggest dredger to do heavy lifting in Panama Canal
- Indian minister vows to cut red tape and lower export costs
- CN to invest US$1.7 billion on capital investments in 2011
- Cathay cargo volume up 8.9pc in January to 144,402 tonnes
- AAT's airfreight volumes grow by 27pc in January
- US lifts ban on air cargo from Yemen
- Budapest air freight up 32pc to 82,638 tonnes in 2010
- Air Cargo Africa 2011 to make its debut in Nairobi
|FEBRUARY 15, 2011|
- Governor pushes offshore wind in Maryland
- Carnival Cruise Lines sets new one-week reservations record
- Bureau Veritas and Rio University set up joint development center
- Budget requests funding for Kings Point renovations
- ICS changes position on using armed guards to protect ships against pirates
- Maersk Drilling orders two next-generation jack-up rigs
- USCG issues safety alert on air receivers and relief valves
|FEBRUARY 15, 2011|
- Port association sees ups/downs in President's budget for 2012
- President's budget holds $101.5 million for NW Corps
- OOCL plans to bring back Atlantic Express Shuttle service
- Corps' Seattle District in line for funding in 2012 budget
- Red Arrow Logistics earns NVOCC license
|FEBRUARY 15, 2011|
- Excess tonnage stifles aframaxes
Higher Worldscale rates due to rise in bunker prices rather than real strength in the market
- April date set for Baltic's freight derivatives central screen
BaltEx launch comes more than five years after traders' demands
- GMS forecasts 'repercussions' as glut of scrap tonnage waits at India
Indian scrap prices have fallen by $20-$30 per ldt in the last week, as too much tonnage swamped the Indian market
- Fresh panamax cargoes boost longer time charters
The Baltic Dry Index closed at 1,236 yesterday, up by 30 points on the previous day as panamax rates continued to climb after fresh cargoes entered the market
- Irate owners plot to reclaim vessels from Korea Line
Creditors will have to wait until June 3 to meet with ailing line as Seoul court grants application for receivership
- Pirate operations disrupted as second mothership captured
But navies forced to release 33 pirates as they 'were not committing an act of piracy' at the time
- MSC boss outlines plan to 'kill piracy'
Placing naval vessels close to pirate ships will put end to the piracy scourge
- Identity card is US' maritime hobgoblin
The identity card for US transportation workers has been an expensive disaster in technical and civil liberty terms, and has brought no discernible security benefits
- Coal not containers: the real driver behind Colombia's 'canal' plans
Investors outline plans of between $4.4bn and $7bn to build new rail links that would connect the country's Pacific coast with Medellin and later Bogot'
- Bit-part players to feed China's iron ore appetite
Non-traditional nations set to plug short-term supply shortage with smaller classes of bulk carriers to benefit
- Beware rise in claims for cargo hedging losses
Growth area of litigation as more owners, charterers and cargo interests speculate on the futures markets
- Volatile offshore energy market insurance is 'underpriced'
- No Valentine's cards in this year's P&I renewals
- Colombia's fictional canal
The idea of building a landbridge through Colombia is certainly a tale that many in the shipping industry would love to see come true
- Cost cuts help Piraeus return to profit
Port set to enjoy positive year in 2011 after loss-making 2009
- Korea Line hit by US lawsuit
Move may make it even more vital for Korea Line to seek Chapter 15 bankruptcy protection
- GE Capital to shed GE SeaCo stake
Seeks buyer for its 50% stake in the box leasing company
- Omega sells minority stake to help fund newbuilding
Offloads 20% stake in Megacore venture to pay for panamax tankers
- Hutchison seeks $3bn for ports spin off listing
Hires three banks to arrange loan facility for Hutchison Ports Holdings Trust
- UASC seals $302m finance deal
To fund three 13,100 teu containerships, the final trio of a nine-vessel series
- US retailers predict 8% growth in 2011 box imports
Forecasts prompts hopes that economic recovery is "taking hold"
- Eagle Bulk breaks silence on Korea Line
Asian dry bulk company owes $7.3m in charterhire arrears
- Gold Containers upbeat on growth prospects
Box leasing company's sales and leasing revenues rise in 2010
- Box safety hurdle
Shippers that fail to follow container stowage guidelines are a menace but also extremely difficult to police
- ICS changes tack on use of armed guards
Move to neutral position aimed at increasing pressure on governments to take more decisive action
- Thoresen Thai posts dry bulk profit
Division shows upturn with $7.8m profit in first quarter of its financial year
- UASC first to trial onboard electronic manual database
Shipdex system will contain details of up to 65% of newbuilding UMM Salal's engine room equipment
- Code of safety for gas-powered ships inches closer to reality
- GL fuel-monitoring tool set to go on the market
- Eitzen Chemical loss deepens to $114m
But sees market firm up in first quarter 2011
|FEBRUARY 15, 2011|
- Damaged crane closes Virginia berth
VIRGINIA Port Authority told fairplay today that it has shut down one of three APM berths after a project carrier pulling away from a pier damaged a gantry crane
- No escaping drybulk 'abyss'
BIMCO is predicting continued drybulk weakness, with tonnage oversupply limiting what owners can do to pull freight rates out of the sector's slump
- Omega sells JV slice
NASDAQ-listed Omega Navigation has sold 20% of its stake in a joint venture with Glencore to raise money to pay for newbuildings
- Yard fire victim dies
A WELDER injured in a ship repair yard fire in Azerbaijan was reported today to have died
- KL ties force Eagle to scramble
EAGLE Bulk confirmed today it is being forced to seek spot replacement business for vessels timechartered to Korea Line
- Repsol to ship LNG to South Korea
SPANISH energy giant Repsol told Fairplay today it has signed a contract to supply 1.9Bn m' of LNG to South Korea's government-owned Korea Gas
- Seized pot now up in smoke
SPANISH police today launched an inquiry into the theft of four tonnes of seized marijuana at Valencia's port
- January LNG cargoes to Korea rose 41%
SOUTH Korean imports on LNG carriers increased by 41% in January, compared with that month of 2010, IHS World Markets Energy reported today
- US imports seen growing
US BOX imports will grow 6% in the first half of 2011, the National Retail Federation has predicted
- Italy faces Tunisian migrant surge
TUNISIA has reportedly boosted naval and coastguard patrols to intercept wave of migrants seeking to travel across the Mediterranean to Italy by boat
- Smuggling bid rolled out
GREEK coastguards have smoked out 43M packets of contraband cigarettes and arrested six crew members from a general cargo ship
- US Army Corps budget slashed by 17%
PRESIDENT Obama slashed $913M from the US Army Corps of Engineers budget estimate for FY2012
- COSCO Shipping's January loads plummet
COSCO Shipping's January volumes dropped by 22% year on year to 499,300 tonnes because Chinese New Year came earlier this year, the company has told Fairplay. COSCO Shipping's January loads plummet
- Hutchison gains listing OK
HUTCHISON Whampoa said today it has received conditional permission to list its port assets on the Singapore Exchange
- Eitzen Chemical struggles in 2010
NORWAY'S Eitzen Chemical has posted deeper losses for 2010 but is hoping that a slight improvement in the fourth quarter signals a rising trend
|FEBRUARY 15, 2011|
- White House Proposes $50 Million for Cross-border Trucking
President Obama's proposed budget would breathe new life into a cross-border trucking agreement with Mexico, allocating $50.4 million to support...
- Container Lessor GE SeaCo Reported for Sale
Owners of GE SeaCo, which operates the fifth-largest container leasing fleet, are seeking a sale that puts the company's enterprise...
- Shippers, Carriers Cite Flaws in Obama's Budget
The president's proposed 2012 budget on Monday left a manufacturing association and a water resource group dissatisfied with the changes. ...
- ODFL's Congdon Seeks Bigger, Longer Trucks (Video)
Old Dominion Freight Line President and CEO David S. Congdon wants Congress to lift its ban on trucks exceeding 80,000...
- Cuban Box Terminal Will Become Transshipment Hub
BALBOA, Panama ' A new container terminal in the Cuban port of Mariel will become an important transshipment hub for...
- Colombian Truckers Strike in Bogota
Colombian truck drivers, on strike for more than two weeks, are blocking major roadways in the capital city of Bogota,...
- Forward Air Nearly Doubles Earnings
Forward Air nearly doubled earnings in its fourth quarter to give the airport-to-airport trucker a $32 million profit for 2010. ...
- Ports Concerned About Federal Budget Cuts
President Obama's proposals for a $556 billion, six-year surface transportation bill, and a national infrastructure bank are positives steps, according...
- White House Boosts FMCSA Budget 10 Percent
The White House is seeking a 10 percent increase in motor carrier safety funding in its 2012 budget proposal as...
- Severe Weather Hits FedEx Profit Forecast
FedEx is forecasting its earnings in the fiscal quarter ending this month will come up to 40 percent below earlier...
- Retail Sales Growth Slowed to 0.3 Percent in January
U.S. retail sales rose 0.3 percent last month, the seventh straight monthly increase but the weakest gain since June, the...
- Japan, India to Sign Free Trade Agreement
Japan and India will sign a free trade agreement Wednesday to eliminate import tariffs on most products traded between the...
- Rhine Fully Reopens to Shipping
Shipping on the river Rhine River in central Germany returned to normal Monday, Feb. 14. The river is fully open...
- French Dockworkers, Employers Open Talks
French dockworkers and port employers Feb. 15 began negotiations aimed at resolving a dispute over pensions that has provoked rolling...
- Alphaliner Forecasts 14 Percent Trans-Pacific Capacity Spike
Ocean container carriers will boost capacity between the Far East and the U.S. 14 percent in 2011 from last year,...
- Retailers Forecast 6 Percent Import Growth
Import cargo through the nation's 10 busiest container ports is expected to increase 6 percent during the first half of...
|FEBRUARY 15, 2011|
- SA trucking dispute turns ugly
- US box traffic forecast to grow steadily for H1
- UASC concludes its vessel financing programme
- Tasmania loses last direct calls
- China's trade gap shrinks
|FEBRUARY 15, 2011|
- Heidmar hit by KLC cloud
Korea Line Corp collapse sparks payment dispute between Heidmar's Sigma Tankers and Hyundai as charterer turns to court for guidance.
- Thome chats on KLC clash
Singapore-based shipmanager says "off-spec" bunkers are to blame for Blue Emerald's engine failure.
- Maersk beefs up rig fleet
Nils Andersen bets on the future of offshore drilling with $1.2bn order for jack-up pair.
- Heavy-lift bashes crane
Chinese ship clips structure it had just delivered as it heads out of Portsmouth port in US.
- Traders hire Hartmann duo
Asian commodities players return to German gas owner as they race to quench thirst for tonnage, brokers claim.
- KLC deal 'unfavourable'
Eagle Bulk's plan to take back ships from Korea Line comes at a poor time, JP Morgan says.
- One dead in ship fall
Man plunges 15 metres into skiff during exercise on anchor-handler operated by Norwegian government.
- Stolt stymies piracy storm
Call from founder Jacob Stolt-Nielsen for pirate 'executions' in war on shipping draws clarification from tanker company.
- Ships returning to nest
Nasdaq-listed Eagle Bulk looking to take bulkers back from struggling Korea Line until it can resume charter payments.
- K-Wave washed up
German feedership escapes structural damage after running aground on Spanish beach.
- One dead in ship fire
Two other workers injured as blaze engulfs Caspian Shipping vessel at Baku shipyard.
- Yujin tanker out of action
London-listed owner loses asphalt carrier to engine failure in Indonesia.
- OSG and KLC faceoff
US owner piles woe on ailing South Korean firm after filing an injunction in the US Virgin Islands.
- Tanker saves yachtsmen
Bow Engineer picks up four Germans whose boat took on water in south Atlantic.
- UASC nets $300m loan
Kuwaiti owner finances last three of nine boxships on order at Samsung Heavy with new loan facility.
- STX in seventh heaven
Roy Reite-led yard books sharp rise in Q4 numbers as it reveals post IPO newbuilding number seven.
|FEBRUARY 15, 2011|
- Cathay cargo volume up 8.9% in January
Cathay Pacific and sister airline Dragonair saw air freight volume rise 8.9 percent in January, though the airlines' cargo load factors were hit by increased capacity. Cathay and Dragonair carried 144,402 tons of cargo during the month, while its l...
- U.S. resupplies Antarctica station for 2011
The U.S. Military Sealift Command-chartered containershipBBC Emsdeparted McMurdo Station, Antarctica, Feb. 13 after delivering more than 84,000 square feet of vital supplies in support of Operation Deep Freeze (ODF). ODF is an annual Air Force-led ...
- ABS names Wiernicki CEO
Christopher J. Wiernicki, ABS president and chief operating officer, will become the classification society's chief executive officer following its annual meeting in April. Robert D. Somerville will give up his CEO responsibilities, while remaining...
- Rickmers CFO Mittelbach steps down
Rickmers Group said Moritz Mittelbach has stepped down as chief financial officer and managing director of Rickmers Holding GmbH & Cie KG and Pacific Holdings International GmbH & Cie KG at his own request. For 10 years, Mittelbach "successfully gu...
- Maersk nixes Panama Canal fee
Maersk Line said this week it is canceling a fee it was due to start charging March 1 on shipments transiting the Panama Canal. The Danish line announced the fee Feb. 1 -- $20 per 20-foot container and $40 per 40-foot container -- but did not give ...
- COSCO raising Dubai THCs
COSCO Container Lines said this week it is adjusting the terminal handling charges it assesses on shipments from the Port of Jebel Ali in Dubai. The new THC will be roughly $215 per TEU and $282 per TEU; and $285 per TEU and $385 per FEU for danger...
- MCC Transport adds long-line intra-Asia loop
The Maersk Line intra-Asia subsidiary MCC Transport said it has started an intra-Asia service between ports in Indonesia, the Philippines, Japan, China, Taiwan and Malaysia. The new IA8 service runs on a 28-day rotation of Jakarta, Surabaya, Manila...
- MSC raises U.S. West Coast/South America rates
Liner carrier Mediterranean Shipping Co. said last week it is raising rates and bunker surcharges on shipments from the United States to the West Coast of South America. The rate increase is $300 per TEU and the bunker surcharge will go to $365 per...
- Obama FY 2012 budget rewards DOT, DHS
The White House on Tuesday unveiled a $3.7 trillion spending plan for fiscal year 2012 that would put the federal government on the path to cutting the deficit by $1.1 trillion over the course of a decade, stabilizing but not eliminating the annual...
- $3.7 trillion spending plan
|FEBRUARY 15, 2011|
- ARA demand poor as prices shoot higher
Overnight fuel oil cargo gains of more than $20 see prices rally across Europe.
- Baltic council considers calling for mandatory use of LNG
Council's Director General wants 'sustainable environmental policy' for Baltic sea.
- Spot quotes resume in Durban
Double-digit gains in Fujairah, Suez on Tuesday.
- Marina developer leads bid for ex-naval bunkering base
Terminal on Adriatic coast can hold up to 11,000 metric tonnes of product.
- Tanker rates climb as bunker prices firm
VLCC rates surge on key Asian route.
- Trading in Korea Line shares expected to resume
South Korean court approves placing the dry bulk group in receivership.
- Bunker prices up in key Asian ports
Demand below average as prices continue to increase, traders say.
- Increasing bunker prices a 'concern' in 2011
Rates 'somewhat' improved in the current quarter but higher bunker prices affecting bottom line, says Eitzen Chemical.
- South China fuel oil exports down 8% in 2010
Exports affected by lower demand for bunkers in the region, says local sources.
- Dan-Bunkering welcomes new bunker trader
Arjun Sundar will be part of the company's sales team in Middelfart.
- Two vessels detained for illegal bunkering ops
Vessels caught transferring marine gas oil (MGO) off southeast Malaysia on Thursday, says maritime agency.
- Philippine bunker supplier denies illegal bunkering ops
Local supplier said it purchased tax-paid bunkers to sell to the domestic market.