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Shipping News

Rough seas for container liners as freight rates ease
CONTAINER liners, which have ridden a three-year wave on surging Chinese trade, are heading for choppier waters as shipping capacity grows faster than demand.
Slowing UK growth a drag on P&O profits
PENINSULAR & Oriental Steam Navigation Co , the UK's largest port operator, said slowing economic growth in Britain will hurt 2005 operating profit at the ports division.
Bergesen raises 4.2b kroner in IPO
THE shipowning Sohmen-Pao family raised 4.22 billion Norwegian kroner in an initial public offering of Bergesen Worldwide Gas, the largest share sale in Oslo in four years.
Port backlog crisis forces staff lay-offs
Russia-Norway high seas standoff continues

Strait Talk

The phoney war continues
LOOKING at the liner scene right now is a strange experience.

web site

Shipping News

Rough seas for container liners as freight rates ease
CONTAINER liners, which have ridden a three-year wave on surging Chinese trade, are heading for choppier waters as shipping capacity grows faster than demand.
Slowing UK growth a drag on P&O profits
PENINSULAR & Oriental Steam Navigation Co , the UK's largest port operator, said slowing economic growth in Britain will hurt 2005 operating profit at the ports division.
Bergesen raises 4.2b kroner in IPO
THE shipowning Sohmen-Pao family raised 4.22 billion Norwegian kroner in an initial public offering of Bergesen Worldwide Gas, the largest share sale in Oslo in four years.
Port backlog crisis forces staff lay-offs
Russia-Norway high seas standoff continues

Strait Talk

The phoney war continues
LOOKING at the liner scene right now is a strange experience.

	web site

Zim captain, crewmembers arrested over fatal collision NYK cracks down on stowaways with help from SCT Asiatic Shipping expands into Malaysia, Singapore Tianjin handles goods worth US$60 billion from Jan-Sept Mitsubishi launches 7,000-TEU vessel for Evergreen Group Korean Air launches Incheon-Huangshan service Aeroflot orders seven Airbus A321 aircraft US Airways investors use stock options Boeing sells Canadian parts facility

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Enhanced transpacific service launch heralds a new focus for Safmarine 2,650 tonnes of Chinese, Pak onions arriving MbPT plans to construct 2nd liquid chemical terminal Praveen Agarwal takes charge as MPT's new Chairman Mundra Port smashes 2 single-day unloading records on Oct. 21-22 JTB Express Services flags off 1st CBT cargo from CWC's ICD-Dashrath to Sahar ACC Rlys begins handling Nepal's ex-im cargo through Birgunj ICD Fagioli group to set up base in KASEZ Fin. Ministry may prune peak Customs duty by 5 pc in 2006-07 Budget Highlights of RBI's busy season credit & monetary policy

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OCTOBER 25, 2005
Thear to head new Volga Dnepr customer service team Freight relocation in Australian ports Freight traffic growth slowing down Eurotunnel cutting staff and reorganising Wincanton achieves ISO 14001 accreditation EU takes Greece to court Qualcomm adds OnTracs to EutelTracs Dubai International Aerospace Exhibition in November

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OCTOBER 25, 2005
Lower earnings at UK ports for P&O Spills into UK waters down 30% by volume "Beware of incompetent crews," says P&I club Pan-United in China port venture

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OCTOBER 25, 2005
Canadian fine for Norwegian tanker New Subic Bay ship repair venture Navy contract for TOTE

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Bergesen Worldwide Gas suffers lacklustre Oslo debut OSLO investors yesterday deflated initial high hopes for the float of premier Norwegian gas shipping group Bergesen, with shares falling by up to 5.5% during morning trading. Marshall Islands guns for Liberia's second spot flag status THE Marshall Islands will overtake Liberia to become the world's second largest flag state by 2010, according to the head of International Registries, which administers the Marshall Islands flag, writes Keith Wallis in Hong Kong. Braemar's Marsh embraces tanker boom UK shipbroking and consultancy group Braemar Seascope produced a bumper set of interim results yesterday and predicted strong tanker trades for years to come. Keppel yard rejig to meet rig demand KEPPEL Offshore and Marine is converting shipyard capacity in Singapore and the Philippines to meet the soaring demand for offshore oil rig newbuildings.

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OCTOBER 25, 2005
Wilma alters cruise landscape HURRICANE Wilma's most significant shipping impact will befall the cruise sector, which has temporarily lost its most important port of call: Mexico's Yucatan Peninsula Lloyd's Register-Fairplay Inc, Miami Lloyd's Register ' Fairplay Inc's Miami office is currently closed because of damage caused by Hurricane Wilma. We expect it to reopen later this week Migrant Watch: Cubans charged TWO Cuban nationals have been charged in the ill-fated migrant smuggling attempt that ended with a young boy's death $60,000 fine for Norwegian tanker spill A NORWEGIAN-registered tanker has been fined C$70,000 ($59,300) for illegally discharging an oily substance into the waters off Newfoundland last year Bocimar wins industry award BELGIAN bulk carrier operator Bocimar was presented with the Shipping Industry Company Award last night at the 25th anniversary dinner at Coaltrans 2005 in Paris Christian societies get together A GROUND-BREAKING ecumenical agreement was signed today in the UK by three leading Christian maritime societies to respond more effectively to the needs of seafarers FIIs raise exposure in Indian shipping South Florida ports stay closed Weak UK market to cut into P&O profits IMB calls for naval intervention in Somalia St Lawrence as alternative to Gulf Grimaldi to buy Sea Malta Varun to issue S'pore depository shares Golden Ocean sets up in Singapore Bergesen bigwigs buy own shares Anxious wait in Sydney import backlog

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OCTOBER 25, 2005
Importers warned on China curb plans U.S. importers trying to work around China import curbs have been warned: make sure your paperwork is in order. Port of Miami, Everglades await re-opening ILA's Daggett describes death threat McCormick optimistic on EAA renewal Trucking urged to steer smarter course P&O cuts earnings forecasts Strong Q3 for Exel Storm postpones Air Cargo Americas conference

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OCTOBER 25, 2005
P&O cut ports profit forecast, as European consumers waver, but see Asian growth P&O have cut their 2005 ports operating profit expectations by 2-3%, citing lower profits at UK terminals, but see Asian growth continuing, echoed in North America and the intra-Asia trade. Shippers want Concor to keep off terminals The Western India Shippers' Association has recommended that the Container Corporation of India concentrate on running block-trains instead of diversifying into non-core sectors, like port and hinterland terminals. Tacoma fatality investigation clears all of blame Update: TCY terminal undamaged by Wilma, confirms terminal group Canadian intermodal activity up on West Coast Russian Troika puts more wheels on rail Korea aims for Northeast Asian containers Inchon Port holds sales events in China HMM bonds upgraded

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OCTOBER 25, 2005
Vosco finds its wallet Tsakos's long-delayed sale of a products tanker to Vietnam's Vosco has finally gone through. Charter boss out at Genmar John Ramistella parts ways with New York owner as shakeup continues at Peter Georgiopoulos' public company. Profits tumble for Euronav High oil prices cut demand for Belgian owner's tonnage as third-quarter earnings slump. ACL pays off Title XI Nasdaq-listed American Commercial Lines has paid off bondholders and US guarantors early with $33.5m. Tote wins renewal The US military has signed up a 28-year-old ro-ro for another year at over $41,000 a day. Leif Hoegh slows down Reduced summer car shipping demand put the brakes on Norwegian owner's performance. Chilly deal for Sovcomflot Russian shipowner to provide integrated crude transport for icy Barents Sea oilfield. Tallink linked to Silja Estonian ferry line reportedly agrees deal to buy struggling Baltic subsidiary of Sea Containers. BW Gas still bullish Jan Hakon Pettersen is putting more trust in the freight market than initial stock market reaction to the Bergesen Worldwide listing. Armada man joins Golden Ocean Frontline spinoff begins operation in Singapore in search of new business. Former Frontline tanker fined Norwegian owner to pay CAD 70,000 after suezmax discharged oil off Canada last June. CDSC up again Bigger tanker and bulker volumes boost nine-month profits at Hong Kong-listed owner. Tasmanian ferry improving Passenger and freight figures picking up for TT-Line's struggling Spirit of Tasmania III. BW Gas shares dive Stock drops 5.2% in early trading on the Oslo exchange despite pricing at low end of range. Keppel surges again Another double-digit profit increase for Singapore rig builder. Ferry numbers down UK group P&O's smaller fleet sees drop in passenger figures between Dover and Calais, but other routes improve. Braemar Seascope forges ahead UK shipbroker sees revenues soar and profits rise in strong markets in first six months.

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OCTOBER 25, 2005
MSC starts U.K./continental Europe loop CCNI opens Europe office Vessel owner pays C$70,000 for oil discharge Cargolux to start weekly Luxembourg/Saudi Arabia flights Aeroflot orders seven A321's from Airbus CN to discontinue seven Saskatchewan branch lines Endres to leave BNSF Trade attorney warns brokers to guard themselves in trade agreement applications Dedicated C-TPAT Website a few months away, Customs says Bush administration maintains fair-trade pressure on China New BIS chief sets "deemed export," "catch-all" rules as priorities DHL consolidates logistics facilities in new Los Angeles location Pennsylvania shipper settles export violations Canada's Pacific Gateway Strategy praised by industry movers P&O Ports' throughput up 6%, reduces profit expectations Port of Antwerp container volumes up 5.8%

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OCTOBER 25, 2005
Tougher environmental rules for shipping to be expected The EU commission proposes that a new marine environment strategy should be a part of the maritime policy the commission ... Keener control with Color Line The Norwegian Competition Authorities (NCA) (Konkurransetilsynet) as extended the accounting control with Norway's biggest passenger ferry operator Corlor Line to ... Fast ferry planned Drammen for Boulogne The Ports of Drammen and Boulogne, and perhaps Santander will cooperate to start a fast ferry link. A 34 knot ...

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OCTOBER 25, 2005
California sets timetable for 2007 diesel emissions rules Air Resources Board announces public hearing to discuss new regulations for auxiliary engine emissions on ships in California waters. Hurricane's impact felt from Mexico to Canada Hurricane Wilma heads north after leaving Mexican bunkering unaffected, Florida shutdown, and Halifax taking precautions. New sensor for large volume lubricant users Kittiwake says its new ANALEXrs range of remote online sensors is 'especially valuable' to large volume lubricant users in the marine sector. West-East arbitrage cargoes seen up 50% in November Western fuel oil arrivals into Asia in November seen up 50% against October, with most product slated to be 380 cst marine fuel specification. Dubai commodity exchange announces launch date Initial trade will be in gold futures, followed by silver and then commodities - including marine fuel oil. Ships diverted as fuel oil dries up in Durban Absolutely no fuel oil available in Durban amid refinery shutdowns. UK: MCA reports decline in vessel oil discharges Oil discharge incidents show decline despite improved and more stringent reporting procedures. Rotterdam firm with barge market Singapore: Spot market regains life as avails improve Singapore's spot market resumes activity as tight availability of bunker fuels eases, but barge congestion is expected. Singapore Petroleum Company profits rise in Q3, 2005 Singapore Petroleum Company posted higher profits in Q3 this year following the recent surge in oil prices in the aftermath of hurricanes Katrina and Rita.