|DECEMBER 20, 2011|
- NPLs in shipping trade on the rise
Norwegian bank DNB, a key lender to the global shipping industry, said its loan book to the sector would worsen in 2012, with non-performing loan rates rising as crude transport rates stay weak and already low dry bulk rates could fall further.
- New CEO for Maersk's container-shipping unit
AP Moeller-Maersk A/S said Soeren Skou will take over as chief executive officer at its unprofitable Maersk Line container-shipping unit as Eivind Kolding departs to run Denmark's largest bank. Mr Skou, currently head of the company's tanker division, will take his new post on Jan 16, the Copenhagen-based company said yesterday.
- The writing's on the wall
A French civil guard clearing sand contaminated with fuel on the Kerminihy beach here after the TK Bremen cargo ship was stranded by high winds on Dec 17.
- Baltic index falls again after sharp rise
|DECEMBER 20, 2011|
- Maersk tanker chief made Maersk Line CEO, Kolding moves to Danske Bank
- Sharks attack sonar gear, add risks to search for Rena's sunken containers
- Rates plunge as shipping giants reject mass layups to stop rate slide
- Box ship on-time reliability falls from 64pc to 63pc, says SeaIntel
- Zhejiang coastal shipping fleet sets new record, surpasses 20 million dwt
- Seabury: Situation 'not bad' if rate increase sticks - as it must
- Transnet data 'shows' small South African box shops are world class
- Port of Novorossiysk box volume up 29pc, overall cargo upticks 2pc
- Evergreen Logistics becomes EVG Logistics (Singapore) on January 1
- DHL is first to get fast-track customs accreditation in Taiwan
- Qatar Airways runs thrice weekly flights to cargo-rich Chongqing
- Air China launches first direct scheduled from Beijing to Lhasa, Tibet
- Philippines shuts down Aviation Technology Innovators after crash
|DECEMBER 20, 2011|
- ...reintroduces CRX service
- Caravel's KMJ service to add Kandla call later this month
- Hamburg Süd & Seago Line to expand cooperation between North Europe, Eastern Mediterranean
- MAERSK LINE improves product to Zeebrugge, Hamburg & Le Havre
- SCI takes Supramax bulk delivery, raises fleet strength to 79
- Søren Skou appointed CEO of Maersk Line
- UK Club checklist for tanker operators addresses cargo shortage claims
- US West Coast box volumes down 6 pc
- Port capacity to reach 3,130 million tonnes by 2020: Vasan
- Rising fuel prices pushing firms to rail
- Rs. depreciation to add to FIIs' woes
- Adani Power awarded for energy conservation
|DECEMBER 19, 2011|
- Navsea awards LCS program contract mods
- SENER to create FEM models of two dredge newbuilds
- Gibdock moves ahead on rig strategy
- Defense Authorization Act funds transfer of ex-Superferries to Navy
- Sembcorp Marine wins $140 million conversion contract
|DECEMBER 19, 2011|
- Port of Coos Bay sets reward to track down rail equipment thieves
- Maersk Line selects Soren Skou as new CEO
- Crystal Cruises luxury liner rescues two stranded rowers
- Carriers coming together to expand Transatlantic service
- Boeing taps Kim Smith as environment, health and safety VP
|DECEMBER 19, 2011|
- Court puts SeaFrance decision on hold
Ruling due today postponed till new year
- Hamburg port fees to rise 3.5%
Levies for boxships will be capped at 11,000 teu, says port authority
- Skou calls for consolidation as he takes top job at Maersk Line
Container shipping is in need of shake-out, says new chief executive as he replaces Evind Kolding
- Surge in secondhand supramax sales to set fresh price benchmarks
One vessel has up to 20 potential buyers inspect it before offers are invited
- Oman Shipping Co takes back six VLCCs on charter to Iran's NITC
Company considers putting vessels into Navig8's VL8 pool
- Impressive legacy
During the past five years, Maersk chief executive Eivind Kolding has made his mark
- Banks should back steel, not paper
World trade will not flow on a conveyer belt of derivative banking
- EU shows complacency over threat of piracy
While hundreds of seafarers are still being held hostage, attention is being focused on creating contracts for private security firms
- VLGC owners holding out for New Year cheer after December runs out of gas
Few available cargoes pushes spot market rates to five-month low
- Seven owners join forces to map common fuel strategy
Norwegian offshore players unite to push oil majors to improve fuel management
- Clean Shipping Index verifies Maersk
First carrier to have vessel data independently verified and used by cargo owners
- First dual-fuel river tanker launched
Argonon runs on diesel and gas
- Maersk Line nears completion of biofuel tests
Two-year trials concluding with month-long test voyage on Maersk Kalmar
- Lorentzen crowned CMA Commodore
Follows Navios chief executive officer, Angeliki Frangou
- Kolding exits Maersk Line
Maersk Tankers' Skou to replace head of world's largest container line
- The good, the bad and the abandoned
Citi chief predicts a fundamental shift when it comes to raising ship finance
- Red Tape Challenge unleashed
Website invites suggestions on how to reduce bureaucracy, including maritime industry safety measures
- Where does the buck stop in setting pilotage standards?
Select committee will decide who is ultimately responsible for UK pilotage standards
- John Fredriksen closes in on top VLCC ownership spot
MOL's sale of three vessels for scrap sees it fall to joint number one with Norwegian tycoon
- Brokers express disappointment at IG review delay
Any recommendations unlikely to come into force until 2014
- Regulation urgently needed to boost perception of marine surveying
Without change, the sector is likely to experience severe shortfall in next decade
- ABP completes debt refinancing
Ports group draws on term facilities from 11 banks
- Crane washed overboard off Ymuiden
Object is left in middle of main shipping lane, but Dutch coastguard reports no interruption to shipping
- SOx emission rules being avoided
Research shows non-compliance in UK and Sweden mostly due to supply of off-spec fuel
- Unifeeder launches Ust-Luga service
First feeder carrier to call at Russian Baltic hub
- Sembcorp Marine wins $140m ro-pax conversion
Equinox Offshore's ARV 3 to be deployed offshore Brazil for five years under Petrobras charter contract
- MOL scraps 14-year-old double-hull VLCC
Japanese carrier has sold three Nineties-built tankers in a month
- BM Shipping goes bust
Italian company declared bankrupt after 'bad decision' to buy nine bulk carriers
- Asia seeks loans from Europe's banks
Reports of the death of European ship-finance lending are greatly exaggerated
- LA box terminal expansion bid logs draft report
Environmental statement assesses impact of 56-acre proposal
|DECEMBER 19, 2011|
- SeaFrance future stalled again
A PARIS court today postponed deciding on SeaFrance's future until 3 January
- Box shipowners return to barrel's bottom
CONTAINER shipowners are facing mounting losses as spot charter rates lose more ground amid sluggish fixing
- Diana Containerships acquires two more ships
SIMEON Palios-led Diana Containerships today announced two more acquisitions and a fresh credit facility with Royal Bank of Scotland
- New fine for new spill off Brazil?
EVEN AS Chevron faces a huge potential fine for one oil spill, financial fallout might be in store for Japan's Modec because of a new spill off Brazil
- Cold water poured on box rate rise
A RISE OF $9 in Asia/Europe box rates last week failed to impress shipping brokers
- More double-hulled VLCCs acquired by breakers
JAPAN'S MOL sold two double-hull VLCCs to breakers last week, raising to three the number of such tankers to be demolished
- Star wins freeze order
STAR REEFERS has won a worldwide freeze order at the High Court in London
- MRs booked at discount
COMMODITY trader Cargill has locked in two 46,000dwt MR product tankers for two years, brokers told Fairplay today
- TS Lines decides to scuttle box ship plans
HONG KONG'S liner TS Lines has apparently decided not to proceed with an order for four box ships at South Korea's Hanjin HI & Construction
- Maersk shuffles captains
EIVIND Kolding, Maersk Line's CEO, is leaving the Danish carrier to become chairman of Danske Bank's executive board
- Strong drybulk S&P continues
HOLIDAYS just ahead notwithstanding, buyers remain in the mood for bulkers, brokers told Fairplay
- Grounding stirs French anger
FRENCH authorities face rising anger today over last week's grounding of the 6,605dwt general cargo ship TK Bremen in southern Brittany
- Another KG tanker insolvent
WEAKNESS in crude and product tanker earnings is causing increasing distress among German one-ship KG companies
- Box EBITDA turns negative
EBITDA in box shipping has turned negative because of falling freight rates, which should cause more container ships to be laid up, according to a senior shipping analyst
- Erria in debt-to-equity conversion
ERRIA, the listed Danish company that recently sold its product tanker business, said today it has extended its restructuring with two debt-to-equity conversions
|DECEMBER 19, 2011|
- Diesel Prices Fall at Sharpest Pace Since May 2010
Diesel prices across the United States plummeted 6.6 cents in the week ending Dec. 19, falling at the sharpest pace...
- JOC Economist Says Export Growth to Slow in 2012
U.S. containerized exports are expected to rise 3.8 percent next year after a 5.8 percent gain this year, Journal of...
- Star Reefers Wins Freeze of Russian Importer's Assets
Norwegian shipowner Star Reefers has won a U.K. court order freezing assets of Russia's largest fruit importer, JFC Group, to...
- Virginia Gets $26.9 Million for Port Expansion
The new 2012 federal budget awaiting President Obama's signature contains $26.9 million in funding for the eastward expansion of Craney...
- DB Schenker, Estes in Talks on US Distribution
DB Schenker is in talks with less-than-truckload operator Estes Express Lines to turn over management of the forwarder's U.S. ground...
- Vietnam Receives Its Largest Container Ship Call
The Cai Mep International Terminal received a call this week from CMA CGM's Laperouse, the largest container ship to call...
- Maersk Line CEO Kolding Resigns, Skou Appointed
Eivind Kolding, the architect of Maersk Line's ambitious effort to expand the reach and influence of the world's largest ocean...
- ECT Sues Rotterdam Port for $1.2 Billion
Europe Container Terminals, the port of Rotterdam's largest stevedore, is suing the Dutch port for $1.2 billion in compensation in...
- Skou Pledges to Defend Maersk Dominance, Cut Costs
Soren Skou, the newly appointed CEO of Maersk Line, said his key goals are defending the Danish ocean carrier's leading...
- Diana Containerships Buys Two Panamax Ships
Diana Containerships is buying two second-hand Panamax containerships from a KG partnership under an agreement it signed with Reederei Santa...
- Grand Alliance Upgrades Joint Trans-Atlantic Service
The Grand Alliance plans to increase the size of the vessels it deploys on the joint trans-Atlantic service it operates...
- Maersk's Skou Has Led Expansion, Consolidation
Soren Skou, newly appointed CEO of Maersk Line, is no stranger to growth and consolidation in shipping. As...
- Japanese Ship Orders Surge 47.4 Percent
Japanese export ship orders grew for the second straight month in November on a year-over-year basis, rising 47.4 percent to...
- Seaspan's Porter on Shipping Line Advantages, Overcapacity Strategies (Video)
Graham Porter, managing director for Seaspan, discusses how he feels shipping lines have the advantage of buying bigger and better...
- Indian Port Container Traffic Expands 4 Percent
Container traffic through major ports in India grew about 4 percent year-over-year in the first eight months of fiscal 2011-12,...
- Designing Shipping's New Structure?
You won't find Gerry Wang lamenting the financial roller-coaster ocean container lines and their shipping customers have ridden in recent...
- U.S. Xpress Founder, Patrick Quinn, Dies
Patrick E. Quinn, a former attorney who built a billion-dollar trucking enterprise with partner Max Fuller and helped develop and...
- You Get What You Pay For
Pay is a major factor in driver turnover, but not the only one. Detention at shipper docks was cited several...
- Calculating Driver Turnover
If a truckload carrier has 100 drivers and a 90 percent annual turnover rate, does that mean only 10 of...
- Turning Over In Their Seats
Need proof the economy is on the mend? The driver turnover rate at large truckload carriers hit 89 percent in...
- Pay Now, or Pay More Later
Although leading indicators point to a continuing but slow U.S. economic recovery, the U.S. stock market has been roiled by...
- Occupied by the Ports
If the intent of the Occupy movement was simply to attract attention by attempting to shut down West Coast ports...
- Daggett's Diagnosis
If you want to get a rise out of International Longshoremen's Association President Harold Daggett, ask him about the Waterfront...
- Diversity of Opinion
The Waterfront Commission of New York Harbor and the port industry it oversees have had a rocky relationship since Marlon...
- A Duty Worth Dumping?
After nearly 100 years, it's time to change the system the U.S. government uses to collect anti-dumping duties. The process,...
- Shipping Faces a Taxing Climate
The cloud of a carbon tax eased away from the global shipping industry at the conclusion of U.N. talks on...
- Heavy Losses, Light Worries
Despite the heavy losses container lines are seeing in 2011, they are in much better shape than they were in...
|DECEMBER 19, 2011|
- Aramex acquires its South African partner
Dubai-based Aramex, a provider of global logistics and freight distribution services is strengthening its position in South Africa by acquiring its partner of more ...
- Violent twist to Egypt's Arab Spring
The Arab Spring uprising which was kick-started just over a year ago in Tunisia, when a 26-year-old fruit seller set fire to himself outside government buildings ...
- E-SMART to beta test mobile devices
Loughborough (UK)-based International Terminal Solutions Ltd (ITS), which provides software and diagnostic software for the ports and shipping industry, is beta ...
- Philippine island devastated by flash floods
Flash floods, triggered by a tropical storm, left more than 650 people dead and thousands missing on the southern Philippine island of Mindanao at the weekend, ...
- US ports receive intermodal boost with Government grant
US port infrastructure has received a boost after the government allocated USD62 million in grants for this area - among the terminals to benefit are Long Beach, ...
- New ceo for Maersk Line
Soren Skou (in photo) has been appointed new ceo of Maersk's container shipping division, including Maersk Line, Safmarine, MCC and Seago Line, with effect from ...
- Doha talks remain stalled
Ministerial meetings of the World Trade Organisation (WTO) held in Geneva last week failed to resolve the stalled Doha Round of trade talks, while there were disagreements ...
- Ireland's economy shrinks in Q3
The Republic of Ireland saw its economy contract by 1.9% in the third quarter of the year - versus Q3 10 - and compared to a growth of 1.4% in the previous quarter, ...
- LA carries on up - but LB sees continued volume drop for November
Both US West Coast Los Angeles (LA) and Long Beach (LB) container ports have again shown differing fortunes when it comes to their latest volumes for November - ...
|DECEMBER 19, 2011|
- DCIX revolver is 'key'
Diana Containerships has the cash it needs to pursue fleet expansion following $100m bank boost, analyst says.
- Judge slams HSH in ONE case
German lender showed "reckless disregard for truth" in pressing claims against Greek tanker owner in bankruptcy row.
- MJLF sounds suezmax alarm
Tanker market in trouble if scrapping and other fleet reduction measures fail to counter capacity issues, broker warns.
- Grand Alliance upgrades
Zim, Hamburg Sud, Hapag-Lloyd, NYK and OOCL join forces to put 5,400-teu theory to the test with revised run.
- Dahlman delight at VL exits
MOL headed VLCC scrap run brings hope supply correction efforts have begun, bank says.
- Lorentzen lands CMA nod
Angeliki Frangou poised to pass on Connecticut Maritime Association's commodore award to CEO of Seacor Holdings.
- Cash and ships for Diana
New York-listed boxship owner buys panamax brace from Hamburg-Sud and collects a fresh loan from RBS.
- Cargill nets Sinotrans bulker
Hong Kong-listed owner lands period deal for 2012-built panamax, brokers say.
- Fairstar bags rig move
Oslo-listed heavy lift outfit to kick off the New Year with "unexpected" job.
- Fred Olsen kills HHI option
Oslo-listed Fred Olsen Energy decides against doubling up on its drillship orderbook at Hyundai Heavy.
- Russian rig capsizes
Dozens feared dead as jack-up goes down in icy seas near Sakhalin Island.
- Kirby 'compelling'
Evercore Partners takes a shine to Kirby Corp amid expectation of improving bottom line.
- Sembcorp to convert ferry
Singapore-listed company's Sembawang Shipyard nets conversion job for Equinox Offshore Accommodation.
- Greek panamax scrapped
Strand Management is the latest to cash in a panamax bulker in $4.85m Chinese demo deal.
- Kolding quits Maersk Line
Soren Skou appointed new CEO of container line as Eivind Kolding heads for Danske Bank.
| - Ocean news||web site|
|DECEMBER 19, 2011|
- Seabury: U.S. container trade more balanced
Containerized cargo exports from the U.S. will continue to grow more quickly in the next four years than imports, bringing the nation's trade more into balance, said Mathijs Slangen, maritime advisor for the investment banking firm Seabury Group.
- Maersk Daily expands in Europe
The pending dissolution of Maersk Line's joint big-ship Asia-Europe service with partner CMA CGM has led Maersk to include three new ports in Northern Europe to its Daily Maersk product.
|DECEMBER 19, 2011|
- Neste Oil celebrates opening of renewable diesel refinery
An annual production capacity of 800,000 metric tonnes of renewable diesel.
- Fujairah prices weakening
No MDO in Durban.
- 'Healthy demand' in Rotterdam
Prices show little movement in European hubs.
- 'Fuel smugglers' blocked
Officials say product was being transferred ship-to-ship in Indonesian waters, close to Singapore.
- Bunker industry needs LNG code
Code could be developed on a 'national level', says classification society official.
- Maersk Line CEO to focus on fuel efficiencies
'Currently, the rates we achieve don't even cover the fuel consumption.'
- Major LSFO purchase could be 'a hedge'
Player says there could be 'higher premiums going forward'.
- Bunker prices soften in key Asian ports
Supplies of bunker fuel tighten in regional hubs.
- Tight avails expected at Japanese ports
Refineries starting to close orders for the year.
- Tonnage overcapacity still the 'elephant in the room'
Average confidence level in the shipping industry improves despite continued concerns.
- 'Green Bunkering' proposed for Swedish waters
Calls for 'Green Bunkering' procedures in all Swedish ports.
- Investigation underway on grounded ship off France
Authorities working to contain a one kilometre oil slick and empty the remaining fuel on board the vessel.
- Avails of IFO 380 cSt in Hong Kong 'extremely tight'
Cargoes from oil majors 'fully booked' for term orders, players say.
- Chemoil deploys trade and risk management solution
Solution will replace 'multiple disparate systems and spreadsheets' at the company, according to a statement.