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| DECEMBER 21, 2011 |
Shipping News
- Oil tanker hire costs rise on pre-holiday bookings
Hire costs for the largest oil tankers hauling two million barrels of Persian Gulf crude to Asia advanced to the highest level in a week, as oil companies and traders prepared to book ships ahead of the holiday period.
- Tanker glut to spell losses for shipowners
The biggest glut of crude tankers in a quarter century means at least another year of losses for Frontline Ltd and Overseas Shipholding Group as the shipping market suffers its worst rout since the mid- 1990s.
- Drydocks debt revamp almost done
Drydocks World, a unit of Dubai World, expects to complete its long-delayed debt restructuring by the end of March 2012 and has not asked the Dubai government for financial support, its chairman said on Tuesday.
Strait Talk
- Challenging times for shipping industry
GIVEN the unremitting bad news that has been coming in from all directions over the past few weeks, it is a bit surprising to discover that overall confidence levels and the likelihood of major new investments in the shipping industry in the next 12 months has picked up, albeit marginally.
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| DECEMBER 21, 2011 |
- Hapag-Lloyd drops Oakland and Seattle for Manzanillo, Mexico on PAX loop
- BIMCO: Box shipping can weather economic storm, but more lay-ups needed
- Shanghai-Yangshan joins 34 ports with US standard nuke detection devices
- Fix-rate contracts still the norm, but longer-term indexed deals grow
- Gansu cargo movement to surpass the 350 million tonne mark in five years
- Fast growing halal trade becomes focus of joint Malaysian-MIT study
- Express truck lane open for imported reefer boxes at Manila's MICT
- Scrap tariff filing, says FMC's Dye - not so fast, say shippers
- Cargo slump prompts Cathay Pacific to delay delivery of two 747-8s
- Drewry air cargo rate index rose 14pc high in October, year's highest
- Jakarta legislator calls Malaysian air deal unfair, wants to end it
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| DECEMBER 21, 2011 |
- TNWA, GA shipping lines create new Far East-Europe alliance
- 20 lb cotton exported till date: Pawar
- Coffee exports likely to decline 15 pc this fiscal-Coffee Board
- All India Major Ports Cultural Meet begins
- Govt may expedite process of awarding port expansion projects
- JNPT Chairman outlines path to world class logistics at CTL 2011
- NMPT welcomes maiden container rake
- Panel appointed to study cargo handling operations at Chennai Port
- Port workers' unions demand creation of bipartite wage negotiation panel
- Radiation Monitor Portals at ports
- Vallarpadam ICTT connects to China
- BNP revises India's GDP forecast to 6.5 pc
- Focus on MSMEs backed by CII
- Forex reserves fall to $ 306.775 bn; indicate $ 69 m decline
- Release orders issued for sugar exports
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| DECEMBER 20, 2011 |
- Tugboat contract for Chesapeake Shipbuilding
- Pacific Drilling takes delivery of fourth drillship
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| DECEMBER 20, 2011 |
- Maritime Commerce Club calling for 'Old Salt' nominations
- Jensen designing tugs for Moran Towing Corp.
- Hamburg Sud restructuring Eurosal, Europe to America runs
- Alliances joining forces to serve Far East/Europe trades
- Mitsui nets first contract to haul LNG from Indonesia
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| DECEMBER 20, 2011 |
- West of England maintains A-rating
AM Best to monitor the club's progress
- Another setback for Solvency II
Marine insurers share the non-marine industry's frustration
- Q&A: American Club chief executive Joe Hughes
On why general increases are justified and why fixed-term premiums have their place
- More pain, less gain for insurers in 2012
Premiums static and cover reduced as insurers prepare for a tough new year
- Telling it straight
Transparent value estimates could help owners to ease the cost of capital
- G6 a domino reaction to Daily Maersk
Shippers broadly supportive of consolidation move
- G6 alliance boasts biggest share on Asia-north Europe trades
Gang of Six takes top spot from larger rivals
- Baltic Sea aframax glut cuts daily spot market earnings in half
Owners still pinning hopes on an ice season spike but cold snap is not yet on the horizon
- Höegh to charter out LNG Libra for six months
Daily rate of $70,000 predicted for the 30-year-old vessel
- Even Santa needs seafarers...
Protecting the welfare of those who really deliver the goods must remain a priority
- An Inconvenient Truth
More twists and turns than a blockbuster: new-year energy trends will surprise us
- IMO: No mandate needed but green light welcome
While measures for tackling emissions have been created by the organisation, these have not been directed by the UNFCCC
- Europe still looking at its options
As aviation is drawn into the EU ETS and creates problems, this could have implications on shipping
- Getting 2020 vision after Durban
While there remains uncertainty over shipping's role in UN climate change talks, some clear signs are now emerging
- New Black Pearl partnership in the Americas for MSC and CMA CGM
Carriers upgrade services between US east coast and west coast Latin America
- Fuel price increase sparks first-quarter caution at Carnival
Micky Arison-led cruise major finally begins hedging
- Grand and New World Alliances form a new Gang of Six
G6 shores up Asia-Europe presence with 90 ships covering 40 ports
- MOL wins 10-year Indonesian LNG deal
Liquefied natural gas to be shipped from Indonesian ports to floating storage facility off Jakarta
- Outrage after judge accuses German lender of 'reckless disregard for truth'
Omega Navigation scores Chapter 11 victory over HSH Nordbank
- BW Gas builds LNG import terminal for its own ships
Oslo-based company expects to complete $350m project by 2014
- Moody's downgrades Hapag-Lloyd outlook to negative
Rating reflects a tough 2011 and gloomy prospects for the industry next year
- MCA arrests six ships in November
Seven held from previous months
- Greek-owned aframax tanker chartered out for three years
Daily rate appears to show benchmark has lowered
- Concern mounts over crew on detained cargoship Dyckburg
Trade union Nautilus and the International Transport Workers' Federation raised fears about outstanding wages and rights to be repatriated
- MHI built fewer ships but increased tonnage in 2011
Bleak outlook for shipbuilding income
- Non-compliance has a cost
Study reveals some owners are attempting to skirt EU sulphur rules
- German tramp owners join forces
Haren-based co-operatives unite players in feeder boxes and in mini bulkers
- Drydocks World debt restructure will require government approval
Dubai yard expected to conclude $2.2bn negotiations by March
- Moody's withdraws PIL's rating
Move comes at company's request following delisting of Pacific Shipping Trust
- India's port capacity to top 3bn tonnes by 2020, says shipping minister
Cargo throughput less than 1 bn tonnes today
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| DECEMBER 20, 2011 |
- Drydocks World reveals restructuring goal
DRYDOCKS World said today it expects finally to complete its debt restructuring before April 2012
- APL seeks tripled LA port lift capacity
APL WOULD triple its lift capacity at its box terminal in Los Angeles under a port expansion scheme
- Carnival begins fuel hedging
CARNIVAL Corp today announced profits in line with expectations and confirmed it has finally begun a fuel-hedging programme
- Another US LNG export plan revealed
CHENIERE has confirmed plans to develop a greenfield LNG export terminal in Corpus Christi, marking the sixth US liquefaction plan to emerge
- G6 seen level with Maersk
HAMBURG sources tied to one of the carriers in the new G6 alliance told Fairplay today the grouping would draw level with Maersk Line in Asia/Northwest Europe weekly sailing capacity
- Hamburg Süd switches Europe/Americas services
HAMBURG Süd today unveiled a major restructuring of services linking Europe, Central America, West Coast South America and the WC North America
- Ghana tanker exports lift its economy
TANKERS have transported 23.5M barrels of crude from Ghana's Jubilee oilfield in its first year of production, IHS World Markets Energy reported today
- Siem sells PSV for $34M
NORWAY'S Siem Offshore said today it has sold the 2006-built platform supply ship Siem Danis for $34M
- COSCO, Hamburg Süd swap 8,000teu ship
BROKERS told Fairplay today COSCO has relet a German-owned post-Panamax box ship to Hamburg Süd at what has been deemed a firm price
- Prompt cargoes push up rates for Supramaxes
BROKERS told Fairplay today the rush by charterers to cover their needs before Christmas has edged rates up
- MOL clinches LNG deal
JAPAN'S MOL said today it has been selected to transport LNG to a floating storage and regasification unit operated by Indonesian gas company PT Nusantara Regas
- LNG transport deal agreed
CHINA Shipping Development has tied up with compatriot oil company SINOPEC Kantons in a deal to transport about 4.3M tonnes of LNG per year
- Safety issues found in Oz port death
AUSTRALIA'S transport safety investigator has found several safety issues at Patrick's Port Botany terminal in connection with a man's grisly death last year
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| DECEMBER 20, 2011 |
- Ex-Im Bank Posts Third Straight Record Year for Exports
The Export-Import Bank of the United States posted its third straight record year in 2011 for financing exports from U.S....
- GAO Says Ports Left $1.3 Billion in Security Grants Unused
Ports spent only 23.6 percent of $1.7 billion in port security grants that the Department of Homeland Security awarded between...
- CSX to Start Service at APM Terminal Portsmouth
CSX Transportation said it will start on-dock rail service at the Virginia Port Authority's APM Terminal in Portsmouth on Jan....
- South Carolina Suspends Funding for Jasper Terminal
The South Carolina State Ports Authority on Tuesday suspended funding for its joint project with the Georgia Ports Authority to...
- First Rail, Ocean Carriers Share Manifest Data With Customs
OOCL and Canadian National Railroad this became the first two carriers of their respective industries to share their manifest data...
- Moody's Downgrades Hapag-Lloyd Outlook to Negative
Moody's has changed its outlook for Hapag-Lloyd to "negative" from "stable" after the German carrier had a "weaker than expected...
- CMA CGM, MSC Relaunch North-South Americas Loop
CMA CGM is relaunching its Black Pearl service between the U.S. East Coast and the west coast of South America...
- JFK Cargo Tumbles 9.4 Percent in October
Cargo traffic at New York's Kennedy International Airport fell 9.4 percent in October, the steepest year-over-year rate of decline so...
- Hamburg Sud Restructures Europe-US VSAs
Hamburg Sud will restructure many of the joint vessel-sharing agreements it operates with other carriers on the trade lanes from...
- GLP, CIC Buy Japanese Logistics Facilties for $1.6 Billion
Singapore-based Global Logistic Properties and China Investment Corp. will buy 15 logistics facilities in Japan from LaSalle Investment Management for...
- Shipping's New World, Grand Alliances to Merge Asia-Europe Services
Members of the New World and Grand alliances, moving to match the expansion of larger rivals, said Tuesday they will...
- Sri Lanka Port Receives its Largest Container Ship Call
The Port of Colombo received a call this week from the APL Chongqing, the largest container ship to call on...
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| DECEMBER 20, 2011 |
- Hamburg Sud to restructure Europe-American services and foster closer relationship with Hapag-Lloyd
Hamburg Sud is to revamp its European-America's liner network and in so doing will add more capacity to/from the northern Europe-west coast South America (WCSA) ...
- Rena: more boxes removed as fishing ban lifted
- Messina takes delivery of 'Jolly Diamante'
Genoa-based Messina Line, which focuses its liner services on the Mediterranean trades to/from Africa, the Red Sea and the Middle East has taken delivery of its ...
- Bahrain's KBSP sees past torrid year to commodities-led future
The APM Terminals-managed Khalifa Bin Salman Port (KBSP) in Bahrain will grow on the back of rising aluminium, petrochemicals and Saudi Arabian trade, said Simon ...
- LA moves forward with port expansion plan
The port of Los Angeles (LA) has taken a further step towards its planned expansion and improvement of its APL terminal after issuing an environmental report.Alongside ...
- GA boosts capacity on transatlantic
The Grand Alliance (GA) members Hapag-Lloyd, NYK and OOCL, along with Zim and Hamburg Sud are taking advantage of the steady volumes in the transatlantic and upgrading ...
- GA and NWA combine forces again in Asia/Europe tradelane
The Grand Alliance and New World Alliance have decided to join forces again in the tradelane between Asia and Europe. Starting in April, OOCL, Hapag-Lloyd, NYK, ...
- CMIT welcomes Vietnam's largest ULCS
Yesterday [December 19] was a watershed day at the Vietnamese, Vung Tau Province, AMP Terminals [APM T]-managed Cai Mep International Terminal [CMIT] when it received ...
- G20 countries not so open for trade
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| DECEMBER 20, 2011 |
- Carnival's commitment
Micky Arison-led cruiseship giant poised to beef up fleet while rewarding investors with cash despite fourth-quarter dip.
- Sevan accepts fine
Teekay-backed FPSO operator torpedoes plans to appeal findings of probe tied to delayed disclosure of "inside information".
- Moody's slashes HL outlook
Ratings agency brands German containership giant with "negative" tag amid bleak 2012 forecast.
- Carnival cut by costs
US-listed cruiseship owner sees costs squeeze quarterly and full year profit but says the outlook is brighter for 2012.
- STX PO bulker detained
A shortage of soap and cracks and corrosion all contributed to the holding of South Korean vessel in the UK.
- Winland inks holiday COA
Christmas comes early as OTC-quoted bulker owner lands $7.6m contract to transport 'hot' commodity.
- Danske completes Erria swap
Bank takes near 20% stake in Danish tanker owner after debt for equity exchange.
- BW Gas in LNG tie-up
Andreas Sohmen Pao-led gas shipper will develop an LNG terminal in the Dominican Republic alongside a local energy company.
- Price pain for container sector
DVB tips boxship newbuilding and second hand values to feel the squeeze in 2012.
- Stopford measures the storm
Clarksons guru recons blustery crude market has a way to go before it can be compared in the same breath as the 1980s depression.
- Diana deal no turkey
New York-listed boxship owner's pre-Christmas shopping spree will deliver higher dividend next year, says RS Platou Markets.
- Siem cashes in PSV
Oslo-listed owner disposes of spot-trading vessel with a batch of the cash used to repay debt.
- Drydocks to ink debt deal
Khamis Juma Buamim-led shiprepair outfit is confident of sealing a refinancing package with banks by the end of March.
- Boxship boys in new alliance
APL, HM Marine and MOL consortium gets into bed with Hapag Lloyd, NYK and OOIL syndicate.
- Sevan ponders options
Oslo-listed rig owner wants more time on two pencilled in rigs at Cosco, report says.
- OSG trims payouts
Morten Arntzen-led tanker owner approves double-digit reduction of chairman's retainer under crusade to cut costs.
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| DECEMBER 20, 2011 |
- Tug pushing fuel barge safely under tow
Ensuring the continued safety of the crew and the maritime environment in the Gulf of Alaska.
- Namibia 'failing to regulate offshore bunkering'
Government could be 'losing millions of dollars in revenue.'
- Increasing energy efficiency in offshore shipping
Acknowledging that synergies between energy efficiency and environmental impact will be a competitive advantage for the partners.
- European bunker prices climbing
Piraeus 'very busy'.
- Fujairah market firming on Tuesday
IFO and MGO prices climb.
- On-spec material expected in East Asia in January
Fuel oil arbitrage volumes could come in at three-month high.
- Anti-whaling group faces tax bill for bunker fuel
Sea Shepherd says Australian government is being 'passive aggressive.'
- BAF calculation to 'reflect slow-steaming'
Maersk Line says new Standard Bunker Adjustment Factor will be more transparent.
- Bunker prices largely firm at key Asian ports
Supplies mostly tight on Tuesday.
- Singapore MGO, IFO supplies tight
MGO supply shortage 'worst for the year', says local player.
- 'Significant' safety challenges may arise from Turkish sulphur ruling
New regulation will require vessels to use 0.10% sulphur fuel when calling at Turkish ports from January 1, 2012.
- Tanker flat rate in 2012 to rise on higher bunker costs
Sample of benchmark trades shows average Worldscale flat rate for 2012 some 20% higher than in 2011.
- US Coast Guard to investigate use of biodiesel fuel
Cooperative research and development agreement proposed with Cummins Inc.
- Maersk Oil Trading manager joins Chemoil
Nielsen will identify and develop global strategic sourcing arrangements, says Chemoil.
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