BRIEFS

web site

Shipping News

Downturn spells opportunities
SMART bankers can make money in all kinds of conditions. For shipping-focused lender DnB NOR Bank Singapore Branch's regional director, head of Asia and general manager Erik Borgen, even amid the current industry downturn, there are always opportunities, he told The Business Times in a recent interview.
China Cosco dives 5.2% on futures losses
China Cosco Holdings Co, the world's largest operator of dry-bulk ships, fell to the lowest in two weeks in Shanghai trading yesterday after saying it may lose 3.95 billion yuan (S$853 million) from wrong-way bets on freight rates.
US ports push projects for future
Union dockworkers are finding there isn't enough work to go around. Big cargo ships are joining the ranks of the unemployed.
Philippine ferry death toll rises to 27
Grain shipping costs seen bottoming
Alinghi to unveil list this week
Somali pirates take it to the limit
Downhill road ahead for transport companies
Washington readies for inauguration
Hamilton set to thrill as credit woes bite

Strait Talk

Getting the priorities right
I FIRST went to sea in the thick end of 40 years ago and have been a shipping journalist for nearly 20 years.

web site

Shipping News

Downturn spells opportunities
SMART bankers can make money in all kinds of conditions. For shipping-focused lender DnB NOR Bank Singapore Branch's regional director, head of Asia and general manager Erik Borgen, even amid the current industry downturn, there are always opportunities, he told The Business Times in a recent interview.
China Cosco dives 5.2% on futures losses
China Cosco Holdings Co, the world's largest operator of dry-bulk ships, fell to the lowest in two weeks in Shanghai trading yesterday after saying it may lose 3.95 billion yuan (S$853 million) from wrong-way bets on freight rates.
US ports push projects for future
Union dockworkers are finding there isn't enough work to go around. Big cargo ships are joining the ranks of the unemployed.
Philippine ferry death toll rises to 27
Grain shipping costs seen bottoming
Alinghi to unveil list this week
Somali pirates take it to the limit
Downhill road ahead for transport companies
Washington readies for inauguration
Hamilton set to thrill as credit woes bite

Strait Talk

Getting the priorities right
I FIRST went to sea in the thick end of 40 years ago and have been a shipping journalist for nearly 20 years.

	web site
DECEMBER 16, 2008
HK November down 13.2pc to 1.805 million TEU, Singapore down 1.5 pc CMA CGM post-panamax vessel inaugural berthing at Gulf Cosco Pacific ups Suez CT financing to build phase 2 Beijing gives approval to Chongqing Cuntan Free Trade Zone Fuzhou Port to build two new container berths Taiwan wants Dongguan as direct shipping port to cut costs ACT sees November box throughput rise 40.6pc ESC urges proposed road user charges be implemented slowly Marseilles container traffic down, but Med trade cuts loss Russian Rail cargo up 17pc to Central Asia January to September Xian to launch first all-cargo air route to Europe EU-Canada open skies pact to boost cargo services Volga-Dnepr uses new 'hook' technology to secure air cargo

	web site

Hamriyah Maritime City launched in Sharjah free zone Sahil Freight adroitly handles EMCO's ODC for Iraq Newbuilding arrivals continue even as container lines cut capacity UK to strengthen business ties with Gujarat 13,000 tonnes pulses to be imported Bhutan power for India New US rule on ocean cargo imports to come into effect on Jan. 25 Marg to invest in 2nd phase of Karaikal port development Mumbai Port to host Major Ports sports events from today KoPT to beef up marine-side security Global airlines will lose $ 2.5 bn in 2009-IATA 70 pc rise in crude oil import bill Banks cut interest rates on loans to MSME units up to 100 bps RBI cautions against weakening of Central finances Textile sector to become eco-friendly SMEs awaiting specific sops from govt Asean takes steps towards EU-style set-up

	web site

Lufthansa to scoop up SAS? 2009: outlook promising for intermodal transport services WCA launches pharmaceutical alliance

	web site
DECEMBER 16, 2008
UK owners' body backs emissions trading Frontline joins Teekay in Gemini Pool Euronav's new VLCC Evergreen ponders more Taiwan-mainland services Sharjah shipyard project "launched" Dryships cancels bulker deals

	web site
DECEMBER 16, 2008
More hijackings as UN approves strikes on Somali pirate bases Mermaid Marine takes delivery of MPV Keppel Verolme to scrap MPU Heavy Lifter Hull

	web site
DECEMBER 16, 2008
Global box carriers axe more of their Asia-Europe capacity MEDITERRANEAN Shipping Co withdraws capacity while CMA CGM and China Shipping axe FAL4 service. Bucking the trend MSC expands in tough climate Greek newbuilding orders at lowest quarterly level in eight years SHIPBROKER says only one bulk carrier ordered since September. Half of 2010 bulker deliveries in doubt LACK of owners' finance and unrealistic promises from yards to deliver on time put newbuilding orders at risk.

	web site
DECEMBER 16, 2008
IMF sees halved China growth THE IMF warned today that growth in China could be cut in half from this year to next, with serious implications for shipping sectors Doll sees opportunity in market pinch PINCHED financial sectors have brought about huge change in the second markets, which will force both operators and investors out of business, industry analyst Fred Doll has warned at the Seatrade Middle East Maritime conference Indian navy nabs 23 pirates THE INDIAN navy has thwarted a pirate attack on on Ethiopian-flagged vessel in the Gulf of Aden, seizing 23 of the suspects Owners fear tanker rate collapse FEARS of a collapse in tanker rates ' just like the fall in drybulk rates ' is worrying tanker owners and operators Death reported in ship release PIRATES have released the Greek chemical tanker Action, but there were reports today that at least one of the crew was found dead Drybulk shares rise on market news SHARES in drybulk shipping companies listed in European markets rose this mornings after a reported sharp rise in freight rates Three missing from sinking ship THREE Egyptian crew members are missing after a cargo ship capsized and sank in the Mediterranean Sea off the coast of Cyprus today

	web site
DECEMBER 16, 2008
Carriers to share chassis responsibility Washington will require railroads and ocean lines owning chassis to share safety responsibility with motor carriers Crowley Maritime Corp. expands Bahamas capacity US trade aid grew 60% Pirates seize two more ships China loses WTO appeal Cosco posts loss of $577M from dry-bulk derivatives Ore shipments decline Widdows re-ups with TSA TBS gets tweendecker Fesco profits increase Oceania VSA rescheduled

	web site
DECEMBER 16, 2008
NY/NY to spend USD3 billion plus in 2009 'The Box' in Pennsylvania Opec to 'cut output by 2 million barrels' MSC's Tiger let loose - CMA CGM's FAL4 withdrawn Brotherly love in Brazil

	web site
DECEMBER 16, 2008
MPP seized Turkish-controlled multipurpose ship is reportedly hijacked by pirates off Yemen. Merger approved Shareholders give the nod to tie-up between Arlington Tankers and General Maritime. Four yards bid Transpetro reveals proposals to build 15 tankers in Brazilian owner's second phase of expansion. Total tug taken Indonesian tug connected with French oil major said to be latest victim of piracy in Gulf of Aden. Fesco falters Downturn cuts first-half shipping profit for Russian container line, but result boosted by logistics and rail. Back to the future Former Torm chief, Klaus Kjaerulff, set to return to the market as chairman of Nordic Tankers. OceanFreight cut Two analysts downgrade OceanFreight stock after the bulker and tanker player halts dividends. Knocked back Fred Olsen Production loses Knock Taggart FPSO contract for work off Gabon due to global financial turmoil. Ice break TransViking's icebreaking and AHTS fleet to be split between owners Rederi AB Transatlantic and Kistefos. Four face jail Carnival passengers caught in cocaine sting in Southampton plead guilty to smuggling attempt. Smit ahead Dutch salvor and shipping group to beat annual profit forecast this year as heavy lift earnings improve. Caspian rescue Azerbaijani ships sent to help Russian vessel floundering in Caspian Sea after engine trouble. Stillborn Keppel to scrap worthless hull of world's largest heavy lift vessel as $190m project is abandoned. Four missing Crew feared dead after small cargoship carrying sand and gravel capsizes off Taiwan. Doxa death Filipino crewman found dead in hold of Greek bulker that caught fire off Spain. Three strikes Engine trouble idles BC Ferries' Spirit of British Columbia, the third problem to hit vessel in six months. Gemini expands John Fredriksen's Frontline to add spot chartered ships to Teekay-run suezmax tanker pool. Release pending? Negotiator claims Vela's Sirius Star could be freed by Somali pirates in "72 hours." STX enters Brazil Korean diversified shipowner to "penetrate South American market" with new joint venture. Cargoship sinks Tanker rescues 14 crew off Indonesia, but one man reported dead. Slick fine Cyprus-flagged vessel spotted with oil slick in its wake off Canada last year fined $65,000. Scan deal off Norwegian seismic vessel player looking for new finance after sale-and-lease-back deal collapses.

	web site

Evergreen first across opened Taiwan Strait Musical chairs on India ocean services Widdows to keep TSA helm Furniture retailer in deal with MOL Yang Ming to start second East Med feeder Boardley to join Lloyd's Register Buffett boosts stake in BNSF Ex-Teamsters boss Carey dies UPS Freight improves service in central Illinois Rockefeller to head Senate Commerce Committee Laufer Group expands K.C. operations Florida sinks Miami port tunnel project Port of Antwerp acquires liquid asset Fraser Surrey Docks appoints CEO

	web site
DECEMBER 16, 2008
Crete Cement towed to quay The cement carrier Crete Cement that almost sank after going aground outside Fagerstrand in Oslofjorden on November 19, arrived in Holmestrand on Monday afternoon. Per R'nnevig, press spokesman for the vessels owner Kristian Gerhard Jebsens Skibsrederi, has earlier said to ... Split ownership in Transviking The owners of the 50/50-joint venture Transviking, Norwegian Kistefos and Swedish Transatlantic, have decided to split the company. The parties will own two combined anchor handlers/ice breakers each. Transviking also has four AHTS on order in Spain ... Japanese yard in bankruptcy TSUJI Heavy industries has filed for bankrupcy with debts exceeding USD 800 million. The company has expanded rapidly with new yard sites in China. The orderbook consists of some 40 vessels, of which 29 are 30,000-DWT bulk carriers ordered ...

	web site
DECEMBER 16, 2008
DNVPS expands bunker sampling training course On-the-job training 'fill a gap' in educating ships' crew about all-important samples. Bunkering resumes in Fos as strike ends Backlog being cleared as oil terminal workers return after strike that threatened refinery closures. Another WFS chief to sell stock COO to trim his holdings by 15% early next year. Hong Kong MGO prices surge on tight avails Bunker fuel prices flat across most Asian ports on Tuesday. Lubes saving system gets orders Wartsila receives bulk order from German shipowner. OPEC plans 'severe' cut in oil output Decision will be taken on Wednesday when the oil cartel meets in Algeria. Taiwan, China direct links will reduce fuel costs Direct shipping links between the two countries begin this week. Sri Lanka suppliers in alliance to cut costs Areas of cooperation include importing fuel oil cargoes and sharing a bunker tanker. Fishermen strike against high diesel price Nation-wide strike across 11 Malaysian states held to demand further reduction in the price of subsidised diesel