Baltic Dry Index posts 2nd straight weekly drop The Baltic Dry Index, a measure of shipping costs for commodities, posted a second straight weekly decline on concern that demand to haul iron ore is set to slow.
Kawasaki's China venture to delay shipyard operations by three years Kawasaki Heavy Industries Ltd's shipbuilding venture in China will delay operations of a second dock in Dalian by three years as the global recession dries up demand.
Shippers may cancel up to 15% of vessel orders Shippers may cancel as much as 15 per cent of orders for new vessels and delay taking deliveries to cope with a lack of financing and a drop in demand amid the global recession, Poten & Partners said.
Asia/Europe box rates firming BOX RATES on Asia/Europe routes are beginning to firm since the 1 July rate restoration schemes by major carriers
Maersk rejects VLGC leasing MAERSK Tankers will not lease out their VLGC vessels at current poor charter rates, Fairplay was told today
China bourse up 62.5% in 1H OPTIMISM has continued to fuel China's economy, with its stock market index rising by 62.5% in the first six months of 2009, Beijing's official newspaper reported today
Russian gas production falls RUSSIA'S gas production dropped by a dramatic 30% in June, compared with the same month of 2008
QMII defendants sentenced A FRENCH appeals court has imposed suspended prison sentences on four people in an accident that killed 16 people visiting the cruise ship Queen Mary 2
Hapag might seek Berlin loans GERMAN box liner Hapag-Lloyd might try to obtain government loans or guarantees to weather the slump in traffic and freight rates
India revives SCI sale scheme INDIA's government is again looking at selling up to 15% of its stake in Shipping Corp of India
Consultants that don't consult There is a well known joke about consultants that goes: What is a consultant? - Answer: Someone who borrows your watch, tells you the time, and then keeps the watch.
Saverys' bulkers Alexander Saverys says Delphis is now a dry-cargo owner having altered a boxship order at Hanjin Heavy Industries.
Pirate porridge Russia warns pirates that capture by warships will mean Moscow trial and time behind bars.
Ordering ordeal Newbuilding contracts down nearly 90% in the first half with bulkers and boxships the biggest fallers.
Nordic bash No pollution reported as Norwegian tanker and Russian cargoship collide in Oresund Strait.
Dry switch European owner swaps four boxships for a trio of bulkers in revised order at Hanjin Heavy Industries, with Delphis the stand-out candidate.
It's quotes time Getting cash from the ATM is proving a little too easy for Omar Nokta.
Feeder fund Emergency cash raised as investors in JR Shipping fleet hit in the wallet by market slump.
Ferry blow-out Blown transformer caused Staten Island ferry crash that injured 15 people in New York.
Irish erosion Port volumes fell by nearly 6% in Ireland in 2008 as imports plunged.
Hapag hand-out? German container line could ask government for cash to get it through tough times, shareholder says.
Cido sheds again Tonnage exodus at South Korean owner continues with sale of two tankers.
Waiving again Eitzen Chemical follows Camillo Eitzen in announcing new deal with banks on covenants.
New5 in Numb3rs RS Platou's offshore number one Hans Christensen is switching camps while 150 of John Fredriksen's ships are crossing over to Bergvall Marine for hull cover.
Swift profit John Fredriksen's Seadrill bags $20m profit on rig sale after buying it from Ship Finance International.
Banks set to seize Clarkson boss Andi Case says banks will step up vessel repossessions with installment deadlines looming.
Panama change Fishing industry expert Roberto Linares lands top job at Panama Maritime Authority.
Guilty Four men given suspended prison sentences for their part in the fatal Queen Mary 2 gangway collapse in 2003.
Part payment Striking workers at Bulgaria's Rousse Shipyard are paid half of April's salary as deal with bosses looks likely.
Drugs dwindle Shipowners and managers are finding swine flu anti-viral Tamiflu increasingly hard to get hold of.
Ferry probe Investigation begins into switching of gears on Fullers ferry in New Zealand that caused it to hit berth.
Reefer boost Fred Olsen to guarantee $30m share issue to shore up finances of his reefer operation Oceanlink.
Ship sales slip After hitting an eight-month high in May, a drop in tanker sales push second-hand ship deals down in June.
Trio combine CMA CGM, CSAV and CSCL throw in their lot together on the Asia, Mexico and Caribbean route.
HHI starts FPSO South Korea's Hyundai Heavy Industries has made the first use of its specially-designed H-dock.
MSC Japan cuts Mediterranean Shipping Co is terminating a service linking several Japanese ports with Chiwan in China.
MISC offloads Malaysian shipowner has sold two small single-hulled product tankers to Nigerian outfit.
BLRT rebuilds bunker vessels The Estonian yard group BLRT Grupp has found a niche market ' converting single-hull bunker vessels into double-hull vessels in accordance with MARPOL regulations. The group's yard, Tallinn Shipyard
Unifeeder to Gävle Danish Unifeeder will begin a service to Gävle Container Terminal, GCT, in August. Unifeeder transports other shipping companies' containers to European ports such as Rotterdam, Hamburg, Bremerhaven and Antwerp. "This
Havyard Leirvik lays off 40 employees The Norwegian yard Havyard Leirvik has been forced to lay off 40 of 210 permanent employees due to the recession. The yard has already reduced the number of hired personnel
Eestinova takes delivery of Emi Leader Onega Shipbuilding Yard in Petrozavodsk has delivered the Emi Leader to the Estonian shipping company Eestinova O' in St. Petersburg. It is the second vessel in a series of four
New barge for Petrobras Both IFO and distillate fuel available.
Interest to be paid on oil spill penalty Case slowly comes to a close as Exxon agrees to pay.
Quiet day of trading on markets Softening prices expected if fundamentals continue downward trend.
IMO considers ban on heavy fuel oil in Antarctic waters Calls for adoption of amendment later this year.
Bunker prices softening as week ends Southern European markets see deepest losses.
Unauthorised trades triggered crude spike Trader suspended after oil brokerage loses almost $10 million.
Container line considers asking for state aid Hapag-Lloyd shareholder says the German state should act to ensure fleet survives.
Tight bunker avails support Asian prices Bunker prices in most key Asian ports firmed on Friday.
Another trading company 'eyes' Singapore bunker market Mercuria Energy says 'going into bunkers' is a possibility.
Singapore supplier shuts down Returns its bunkering license to the port authority.
Company and engineer fined for bunker spill UK Environment Agency says it was a 'serious incident that could have been avoided'.
Brightoil starts operations in Shanghai Deploys four double-hull bunker tankers and leases storage for its new operations.
Sri Lanka supplier buys 8,800 dwt bunker tanker Large bunker tanker to double as 'floating storage' to address a shortage of space at Colombo's shore terminal.
Hong Kong supplier builds double-hull for end-2009 delivery Bunker tanker at about 5,000 dwt will be the territory's second biggest barge.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
