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Shipping News

CNOOC, Cosco team up on energy resources
China National Offshore Oil Company Limited (CNOOC), the country's largest offshore oil and gas producer, has signed an agreement on exploiting energy resources with China Ocean Shipping (Group) Company (Cosco Group), China's largest shipping group.
Offer for Irish ferry operator raised to 642m euros
One51 plc, an Irish investment company, and shipping line Doyle Group Ltd have raised their offer for ferry operator Irish Continental Group plc to 642 million euros (S$1.36 billion), topping a bid from management.

Strait Talk

Taking the green route
SHIPPING is responsible for some 90 per cent of world trade. As shipping activity is poised to grow with the predicted growth of the world economy, there is a need to consider the impact that such an expansion in shipping might have on the environment.

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Shipping News

CNOOC, Cosco team up on energy resources
China National Offshore Oil Company Limited (CNOOC), the country's largest offshore oil and gas producer, has signed an agreement on exploiting energy resources with China Ocean Shipping (Group) Company (Cosco Group), China's largest shipping group.
Offer for Irish ferry operator raised to 642m euros
One51 plc, an Irish investment company, and shipping line Doyle Group Ltd have raised their offer for ferry operator Irish Continental Group plc to 642 million euros (S$1.36 billion), topping a bid from management.

Strait Talk

Taking the green route
SHIPPING is responsible for some 90 per cent of world trade. As shipping activity is poised to grow with the predicted growth of the world economy, there is a need to consider the impact that such an expansion in shipping might have on the environment.

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CKYH Alliance to call Prince Rupert on PNW Butterfly Service Keep shipping lines fearful, ESC tells EU regulators IMO to introduce ship-recycling regulations during next year Capacity of Guangxi's Port of Guigang expected to hit 250,000 TEU by 2010 China-Vietnam land container transport route opens for traffic Cape Town to be upgraded to expand container capacity French president's reform may trigger French rail strike Panalpina suspends services in Nigeria, confirms 2007 annual targets Kuehne + Nagel starts building Middle East logistics hub Lufthansa Cargo and DHL Express launch cargo airline Singapore, US extend acceptance of aeronautical products DHL Express in Asia Pacific gains new CEO

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The ever-increasing size of containerships & the global process of concentration - By Dr Jose Paul It's Maersk Line again! World Shipping Summit to be held in Tianjin on Nov. 1-2 US, India get down to business this week Markets sprouting for yellow onions MoU clears way for tea exports to Russia again Gujarat govt to insure port infrastructure VPT submits proposal for mechanisation of general cargo berth Cheque out CONCOR's dividend RBI must act quickly-Fieo Forex reserves rise to $ 232.187 bn Pharmexcil seeks hike in DEPB rates, cheaper shipment credit Rupee surge may make garment exports unviable

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SEPTEMBER 23, 2007
Bocimar's US$460m ordering spree Chemoil sells its VLCC Backpay for Meugang 1 crew MMA goes green

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SEPTEMBER 21, 2007
Guilty plea in Puerto Rico pollution case

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SEPTEMBER 21, 2007
Study finds rail infrastructure in need of future investment First half profits jump for Orient Overseas Limited CBP to open registration for annual trade symposium NYK company develops device to clean diesel engine exhaust US rail freight totals post small drop for week

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SEPTEMBER 21, 2007
Stena Bulk and Sovcomflot forge crude carrier pact COMPANIES set to sign agreement to build and operate revolutionary new series of Baltic crude carriers. Stena President set to make waves No favouritism, shippers tell Brussels SHIPPERS' Council says EC must not give liner sector special treatment when drawing up competition guidelines. Curacao yard blaze 'under control' FIVE people were killed in an explosion onboard an offshore vessel under repair at Curacao Drydock. Some straight talking about strait safety GETTING stakeholders to contribute towards navigational safety in the Straits of Malacca and Singapore has been a slow process. Still fuming about fuel THE jury is still out on the Marpol Annex VI debate over what the shipping industry should do about harmful atmospheric emissions.

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SEPTEMBER 21, 2007
Capesizes bust '200,000 barrier The Capesize bulker Kildare has been fixed at over '200,000/day for a timecharter trip delivery Rotterdam and redelivery China via Brazil Moonduster raises stakes for ICG The Moonduster consortium has raised the stakes for Irish Continental Group by buying an additional 1.6% of the shares Essar eyes Bengal shipyard project THE West Bengal Government is considering two proposals from the private sector for construction of two shipyards in the state Strong ringgit hurts bunkerers THE rise of the Malaysian ringgit in recent months is unlikely to encourage shipping lines to reduce their freight charges Gazprom nixes Baltic LNG plan THE board of Gazprom, the world's largest producer and exporter of natural gas, has vetoed a plan to build an LNG plant in Leningrad region Celtic Link faces uncertain future IRISH Sea operator Celtic Link Ferries is now reviewing its future following the sale of its Dublin-Liverpool service to Seatruck Five months for dumping oil US chamber fetes 'green' ships Gas leak suspected in Seamec blast Kenyan security tender collapses Repsol goes to Mexico for LNG Oil prices head north Pan Ocean shares soar on debut Shippers hit out at Asian owners

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SEPTEMBER 21, 2007
Spurned bidder asks New York Governor to veto Bayonne port development deal Developer claims property would generate more economic benefit as container terminal than as auto terminal. Senate to consider 2 water bills next week Maersk Line expects 'satisfying' profits in 2009 Charleston port rolls out box x-ray system Retailers prepare for slow peak Panalpina suspends services amid fraud probe ESC responds to EC's liner competition guidelines Customs names Fasano area director for New York Maritime interests want Exxon Valdez decision overturned Va. Port Authority makes payment on terminal project Portland boxes up 15%

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SEPTEMBER 21, 2007
Will the global credit-crunch stall new building plans? There are already indications that the credit firestorm currently scorching the world will impact on the business plans of major ocean carriers. Eimskip sails back into the black after growing pains Typhoon Wipha weakens but leaves a trail of disruption Suez Canal container terminal concession doubles capacity Brazilian strike enters its 25th day Bayonne port upset

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SEPTEMBER 21, 2007
Capesize frenzy As freight market soars to $150,000 per day, potentially record capesize deals fizzle out. Transpetro preps 16-ship tender October tender will kick off Phase 2 of Brazilian oil and gas carrier's fleet expansion program. Taxing times in Colombo An spat with customs has given Sri Lankan owners itchy feet. Handfuls of handies CMB subsidiary Bocimar picks up 10 handysize bulkers from South Korea's Samjin Corp. D'Amico tanks up Italian owner adds another unit to its fleet as purchase option keeps price in basement. LNG withdrawal blocked US state's environmental protection board says Downeast LNG cannot withdraw its application. ICG merry-go-round Moonduster's improved bid provides new twist in Irish Continental take-over saga. Lemos denies capesize sale Greek owner says Thalassini Kyra still very much in its fleet and baulks at 'far too low' $133m price tag. $138m for K-Sea issue US oil and gas carrier rakes in $39.50 per share on offering of 3.5 million-share stock issue. Tax talks underway in Norway Norwegian Shipowners Association presents its case on the new tax regime to the government. MCA unions hold fire Strike action by Maritime & Coastguard Agency frontline staff deferred. Cosco hit in Finland Boycott of Chinese ship stirs waters in run-up to Viking verdict. BLT to add another layer Indonesian owner not revealing identity of next company purchase. Navig8 in bed with Fredriksen Singapore owner strikes spot chartering deal with tanker tycoon's oil trading company. GOGL takes capesize cash Massive profit for Fredriksen company from deal with Dryships for Daehan bulker resale due next year. Diana brings in $250m A stock offering that may be used to expand the Diana Shipping fleet is priced at $25 per share. Too much gassing A new LNG plant in China has been delayed by ongoing negotiations with suppliers. Chemoil sells VLCC The $26.5m sale of the Anand Sea a timely and profitable opportunity, the company says. Canada detains five Freeseas, Amalthia and Viken among owners whose vessels failed safety checks in August. Five dead in Curacao blast Port workers and ship's captain among casualties following port explosion in Netherlands Antilles. Cargoship ablaze in Ukraine Firefighters hampered by lack of water at Black Sea Shipyard due to repairs. Indian owner in troubled waters Accord Ship Management pleads guilty to covering up oil dumping from bulker in Puerto Rico. Opec output to edge up Oil exporting cartel to churn out just 0.6% more in month to 6 October, equal to four suezmaxes. Hyundai heating up Stock in Korean yard rose for the third straight day as experts predicted record earnings. GlobalSantaFe orders at Hyundai US drilling contractor opts to book drillship at South Korean yard without employment in place. Cochin in the money Indian shipbuilder boosts annual profit by 300% as revenues soar.

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SEPTEMBER 21, 2007
Malacca nations agree strait safety framework at IMO meeting Exmar's profits drop Cathay Pacific shares suspended ahead of "transaction" Lufthansa orders 41 new Airbus planes Grant named as Atlas Air CFO Rail industry cites need to spend $148 billion over next 30 years NIT League supports short line rail tax credit extension Shipping bribes between government agencies in India brought to light U.S. Ag Secretary Johanns resigns, Connor steps up EU discusses safety issues with Mattel Slow-moving FTAs create concerns Menlo Worldwide expands Amsterdam operations Exports drive South Florida trade growth California olive oil producers want extra virgin to mean extra virgin Savi Tech equipment wrapped into multimillion-dollar U.S. Army order SDV buys Pro-service FMC reviews 18 OTI license applications New York-New Jersey port acquires land to build Bayonne, N.J. terminal ICTSI unit to develop Black Sea box terminal China Merchants' first half profit rises 27%

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SEPTEMBER 21, 2007
Stora Enso reroutes cargo Stora Enso has decided to move significant cargo volumes away from the port of Gothenburg ' the company is disappointed in ... Big plans for DFDS DFDS has launched an expansive plan for the next five years. During this period, the company will substantially expand its ... British Petroleum contracts Aker Kvaerner British Petroleum has contracted Aker Kvaerner to perform the detail engineering, procurement and construction management assistance (EPcma) for the Skarv ...

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SEPTEMBER 21, 2007
Bunker prices hit new highs All-time records being posted today after week of rampant crude rises. Cold ironing record set in Los Angeles Spotlight on ship visit as port highlighting low-emissions alternatives. Chemoil sells storage tanker Company says VLCC's deployment was 'a short-term measure'. October start for new lube blending plant Modern blending facility being commissioned by Lanka IOC could offer marine lubricants soon. Container line blames bunker costs for weak results But Maersk Line expects to return to profit before the end of the year. Singapore sees 'surge' in demand Tankers bound for the Middle East have 'doubled' their bunker intake. Rotterdam market remains firm Analysts divided on oil price trend Opinions split over whether crude oil prices may soar to $100 or crash to $50. Investments in Iranian ports surge Private sector eager to be involved in port-based projects, including in development of bunker facilities. Fujairah takes ExxonMobil cargo Fuel oil parcel for October-loading will help alleviate shortages. Japan plans fuel-efficiency standards for ships Fuel-efficiency project will focus on developing a carbon emissions index. Supplies of 380 cst material suspended Taiwan's state-owned supplier says it is not clear when Taichung's 380 cst supplies will resume. HK think tank urges action on air pollution Hong Kong should learn from the successes of cities like Los Angeles.