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Shipping News

Asian product tanker rates may fall for 5th week
Asian rates for long-range oil-product tankers may fall for a fifth week as bookings slow because of holidays and the supply of ships outpaces cargo available for loading.
Newcastle to cut Q4 coal exports: Aussie sources
Australia's Newcastle port, the world's largest coal export terminal, plans to cut at least 1.7 million tonnes from producers' total shipping allocations in the fourth quarter to reduce vessel queues, two producers said yesterday.
Coal, iron ore shipping rates set to chalk up records
Coal and iron ore shipping rates may extend gains to records this week on rising demand to transport raw materials across the Pacific and the Atlantic amid a limited supply of vessels.
Seatrade expands Asian regional HQ in Singapore
Chinese shipyard denies state plans to take it private
Researchers try to find out how navy sonars affect beaked whales

Shipping Times

Making the move to Singapore
MUCH has been said about the costs and benefits of setting up an office in Singapore. But on the ground, what factors actually clinch the argument for foreign companies that do decide to set up operations here? The Business Times looks at the experience of some.
MPA in spill payout schedule deal
SINGAPORE has become the first country to develop an agreed schedule with the International Tanker Pollution Federation Ltd (I-TOPF) to speed up payment of compensation for dealing with oil spills.

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Shipping News

Asian product tanker rates may fall for 5th week
Asian rates for long-range oil-product tankers may fall for a fifth week as bookings slow because of holidays and the supply of ships outpaces cargo available for loading.
Newcastle to cut Q4 coal exports: Aussie sources
Australia's Newcastle port, the world's largest coal export terminal, plans to cut at least 1.7 million tonnes from producers' total shipping allocations in the fourth quarter to reduce vessel queues, two producers said yesterday.
Coal, iron ore shipping rates set to chalk up records
Coal and iron ore shipping rates may extend gains to records this week on rising demand to transport raw materials across the Pacific and the Atlantic amid a limited supply of vessels.
Seatrade expands Asian regional HQ in Singapore
Chinese shipyard denies state plans to take it private
Researchers try to find out how navy sonars affect beaked whales

Shipping Times

Making the move to Singapore
MUCH has been said about the costs and benefits of setting up an office in Singapore. But on the ground, what factors actually clinch the argument for foreign companies that do decide to set up operations here? The Business Times looks at the experience of some.
MPA in spill payout schedule deal
SINGAPORE has become the first country to develop an agreed schedule with the International Tanker Pollution Federation Ltd (I-TOPF) to speed up payment of compensation for dealing with oil spills.

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Titan moves away from container business to buy Fujian shipyard Jamaica's Kingston CT takes delivery of four China-made cranes Customs eases as YICT to achieve smoother cargo flow SCT to become safer and greener terminal Teeside to build US$603 million container terminal Safmarine spreads container classrooms to Zambian mining town Global logistics chiefs to join in debate at Brussels summit in November Kenya wins UN, UK backing in airfreight battle against environmentalists Asian air cargo season slow to take off this year: Trans Global Logistics Schenker to upgrade Air Fleet Network cargo capabilities in Canada

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SEPTEMBER 24, 2007
Witten new chairman of HHLA supervisory board Prince Rupert container terminal opened Lan Cargo adds Frankfurt full-freighter service RZD orders locos and freight cars GAC group launches new service for event logistics Third European railway package vote

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SEPTEMBER 24, 2007
NOAA reports on ballast water exchange Tidewater makes senior management appointment Shipbuilders said to shun cost-cutting technology Genco makes $215 million stock offering More bulker orders for COSCO Shipyards Hawaii Superferry postpones Kauai service

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SEPTEMBER 24, 2007
Public meetings to discuss Puget Sound dredge material disposal Truck driver turnover rate sees first quarterly decrease Horizon Lines operations director earns Women of Influence honor Insurance club seeks improved dangerous goods handler training Emirates Airline to begin service linking Toronto, Dubai

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SEPTEMBER 24, 2007
KG model 'showing signs of fatigue' KG model must be supplemented with new products, says Deutsche Bank director Felix Ulbricht. KG finance test drives value of car carriers Shipbroking boosts UK overseas earnings OVERSEAS earnings by UK's maritime services continues to forge ahead, powered by growth in the shipbroking sector. MAIB launches probe into North Sea rig deaths THREE men have died after an accident on a gas rig standby vessel in the North Sea. Brazil raises the sail on our green responsibities THE phrase 'sea power' may have imperial connotations, but it is what you need if you are to 'supervise' the sea properly. Tackling cruise crime afloat FRIGHTFUL stories of criminality onboard non-US flag cruise ships are often magnified out of proportion.

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SEPTEMBER 24, 2007
Syria opens service with N Cyprus Syria has ended Northern Cyprus's international isolation by entering a ferry service agreement, the government of Northern Cyprus reports Bomb hoax targets NCL NEW York Police Department searched Norwegian Cruise Line's 75,000gt Norwegian Spirit on Saturday after a caller claimed there was a bomb on board Seasonal kinks for UAE crude CRUDE oil output from the United Arab Emirates will fall by 600,000bpd in November, followed by a two-month glut, because of oilfield and refinery maintenance shutdowns New setback for Hawaii Superferry HAWAII Superferry has decided against resuming service to Kauai this week in the face of intense, continuing protests from residents Shell in major refinery expansion ROYAL Dutch Shell has announced a $7Bn expansion of its Texas City refinery, making it the largest in the US and one of the largest in the world Three killed in North Sea incident THREE crewmen men died yesterday after an accident aboard the North Sea rig standby vessel Viking Islay Cruise pax tax needs spending Tea trade brews up in Dubai BP expands in Singapore 'Fair' payments for spill fighters Oil prices to remain high Ferry runs aground in Bali Cork tries to restore lost link

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SEPTEMBER 24, 2007
In a surprise, West Coast ports see weaker containerized imports in August A decline in container imports through West Coast hubs casts doubt on earlier projections for a strong peak shipping season. Bill raises broker concerns Ahern says border delays require joint effort Jackson quits DHS Panama Canal seeking financing for expansion Savannah TEUs up 30% DOT requests HOS stay Cargolux bumps up fuel fee Customs slates Trade Symposium Lufthansa-DHL venture adding widebody freighters

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SEPTEMBER 24, 2007
Moonduster ups stakes in ICG poker game, ahead of EGM on Wednesday Panalpina suspends Nigerian services pending bribery investigations TT Club wants IMDG training for shore-based personnel Mattel chief apologises to the Chinese people DP World 'interested' in Rotterdam Maasvlakte 3 and 4

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SEPTEMBER 24, 2007
Rosy forecast for Kirby US tank-barge giant boosts expectations for third-quarter earnings to $0.60. Ship costs soar 8.5% Rising oil and supplies costs push vessel operating expenses to new high. Libra in talks for boxships Brazilian containership company reportedly in talks with Atlantico Sul shipyard for two vessels. Possible norovirus outbreak Canadian health officials test for norovirus after 20 cruise passengers are sickened in Halifax. Genco offers stock for $215m US-based drybulk owner and operator issues 3.3 million shares to pay back debt. TEN dividend upticks Semi-annual dividend for Tsakos Energy Navigation shows a 32% hike from last year. Barrot boost for Cyprus EU Transport Commissioner pledges to help overturn Turkish trade ban. Discrimination success Tanker broker, EA Gibson, overturns ruling that it acted unlawfully towards disabled executive. Prisco inks suezmaxes Two more 166,000-dwt tankers to be built for Alexander Migunov-led company at HHI in Korea. Norwegian master stabbed Gas ship captain has died in Thailand following a fight, local police chief says. CalMac wins one-horse race Incumbent Scottish ferry owner to run 26 lifeline routes for more cash. Cosco bags 16 bulkers Mystery owners place huge $724.4m order at two Chinese shipyards. Cosco in China tie-up Shipping behemoth signs pact with compatriot offshore oil & gas player CNOOC for increased co-operation. Tallink takes 10-year loan Baltic's largest operator borrows from three banks to finance its new arrival. Platou pioneers again Oslo broker to introduce new $60m shipping fund to help investors spread risks. More boxships for Vroon Dutch owner adds two more vessels to four-ship Chinese orderbook. MAIB probes North Sea deaths Vroon Offshore says exact cause of incident onboard support vessel which left three dead still unknown. Remontowa forms owner Polish shipyard's Gdansk Sea Lines will charter four multipurpose boxships to BCC of Leer. Sevan secures financing Norwegian owner lines up $450m of credit to build FPSO at Yantai Raffles. ICG twists again Directors snub Moonduster bid in favour of lower management offer as take-over chronicle continues. Eitzen firms up Jinse duo Terje Askvig-led owner evaluating "strategic alternatives" for two chemical carrier options taken at Korean yard. Fredriksen looks into wells Seadrill main man sinking his money into new company for well service sector with share issue. TTA orders Vietnamese trio Thai bulker owner signs for handymaxes at Vinashin as fleet renewal continues. HMM takes second Genco bulker South Korean owner extends handymax charter for another three years at sizeable rate increase. Bergen Yards gets into engines Norwegian shipbuilder snaps up local repair outfit Skjondal Slipp. Chandran keeps the faith Chemoil boss continues to buy stock despite recent profit warning and a downgrade by analysts.

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SEPTEMBER 24, 2007
Diana prices shares for secondary offering Indian company, crew member plead guilty in pollution case International Shipholding in deal for car/truck carrier K-Sea to raise $138 million with security sale A.P. Moller Singapore gets first 9,000-TEU ship Emma Maersk nearly 15,000 TEUs, says AXS-Alphaliner Cargolux hikes fuel surcharge Report: Trained truckers and warehouse managers in short supply in India MDOT awaits CSX train re-route plan Chinese steel exports could come under heavier regulation New standards for food safety proposed WTO panel rules in favor of U.S. over Turkey's rice trade barriers Pacer appoints Manalytics' Coates to board of directors IJS acquires Australian forwarder SoCal ports slammed by NRDC over inaction on air quality measures New Jersey wants stevedores to be able to hire at will San Diego, Puget Sound ports selected for DHS marine security program

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SEPTEMBER 24, 2007
Government will not relent on tax proposals Norwegian Shipowners' Association (NSA) will now intensify their lobbying activities towards Norwegian MPs to try to persuade them to throw ... Strong season raises profit expectations at Stena Line The first eight months of this year were healthy for Stena Line. Excluding the effect from withdrawing the HSS ferry ... Norway in breach of competition law in ports Norway's ministry of fisheries and coastal affairs may be in breach of the EU competition law, embedded in the EES ...

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SEPTEMBER 24, 2007
Barron's sees bright Aegean future Analysts predict growing market share and double-hull advantage. Baltic supplier expands its operation Bunker tanker acquired to back move into major Latvian port. Rotterdam market quiet at midday Supplier to charge owners for redundant claims Says owners are routinely lodging unnecessary claims which are costing suppliers time and money to resolve. Sethusamudram project 'to be completed on time' The Indian government remains committed to the controversial ship canal project, despite protests. Singapore: Five bunker samples needed MPA to revise the SS CP60 to require an additional sample to be taken for fuel quality testing programme.