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Shipping News

Shipping industry gears up to ride another storm
THE year ahead for shipping is bleak but most industry players have seen it all before and are prepared to deal with the downturn while staying hopeful that a recovery will come by year-end.
Baltic Dry Index faces its seventh straight drop
The Baltic Dry Index, a measure of shipping costs for commodities, fell for a seventh consecutive session on weaker demand for steel and iron ore.
Cost to ship crude from the Caribbean falls
The cost to transport crude oil from the Caribbean on Aframax tankers may fall after little change last week, amid weak demand from refiners, a broker said.
Persian Gulf supertanker rate may drop
No change in Suez Canal transit fees this year
Challenging times for new-vessel funding
Fog hampers shipping along central US Gulf Coast
Cut in Port Klang free storage days pushed to July 1
Nordic buys Suezmax tanker for US$56.7m to expand fleet

Strait Talk

Waste not, want not
THE connection between shipping and recycling waste paper may not be immediately apparent, but there certainly is one. Until recently, paper recycling was a booming business in Britain. European Union rules dictate that local councils must recycle more household waste, particularly paper.

web site

Shipping News

Shipping industry gears up to ride another storm
THE year ahead for shipping is bleak but most industry players have seen it all before and are prepared to deal with the downturn while staying hopeful that a recovery will come by year-end.
Baltic Dry Index faces its seventh straight drop
The Baltic Dry Index, a measure of shipping costs for commodities, fell for a seventh consecutive session on weaker demand for steel and iron ore.
Cost to ship crude from the Caribbean falls
The cost to transport crude oil from the Caribbean on Aframax tankers may fall after little change last week, amid weak demand from refiners, a broker said.
Persian Gulf supertanker rate may drop
No change in Suez Canal transit fees this year
Challenging times for new-vessel funding
Fog hampers shipping along central US Gulf Coast
Cut in Port Klang free storage days pushed to July 1
Nordic buys Suezmax tanker for US$56.7m to expand fleet

Strait Talk

Waste not, want not
THE connection between shipping and recycling waste paper may not be immediately apparent, but there certainly is one. Until recently, paper recycling was a booming business in Britain. European Union rules dictate that local councils must recycle more household waste, particularly paper.

	web site

Evergreen to build 100 box ships, sees global recovery in 2012 After French success, IMB more hopeful of suppressing piracy World fleet now 13 million TEU, to hit 14 million TEU in August Bulk up, boxes down at Marseilles Fos in first 11 months February earliest date for California clean truck tax DCT Gdansk's 2008 throughput rises to 100,000 TEU Euroseas cuts charter rates as it extends contracts COSCO Tai' Ankou vessel completes locating BOA oil drilling platform Middle East seen to suffer in 2009 global downturn Major uncertainties loom over Dubai's status as sea-air hub TIACA insists air cargo security should not hinder trade Vietnam shows growth potential for aviation sector

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Maritime fraternity's dream takes concrete shape Yasumi Kudo to steer NYK as President from April Not done, comrade! SC orders status quo on Vizhinjam ICTT project Port Pipavav dredging for 14.5-m draught Mormugao Port ideal site for offshore services & rig repair base Spotlight on Nagpur's investment opportunities 9 SEZ proposals glimmer amidst pall of gloom Cement, steel cos extended Cenvat credit facility for supplies to SEZ developers Panel to consider extension of tax reimbursement on more services for exporters Export trends confirm that sinking feeling RBI's judicious use of forex reserves proves rewarding Foreign Trade Policy Analysis: Current Trends - By M. Sreedharan

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JANUARY 5, 2009
FM Logistic slashing almost 500 jobs Die im lothringischen Phalsbourg (Frankreich) ansässige Logistikdienstleisterin FM Logistic (ehemals Faure & Machet) hat nach einer Meldung der Pariser Wirtschaftszeitung "Les Ech... DCT Gdansk moves smoothly into 2009 The Polish container terminal operator DCT Gdansk passed the 100,000 teu mark in mid December 2008 whilst handling the 750 teu vessel "Containerships V". The company had expected t... La Poste will boost equity by EUR 2.7 billion Die französische Regierung hat f'r die von der französischen Staatspost La Poste seit Monaten erwartete Kapitalaufstockung gr'nes Licht gegeben. Wie die französische Presse bericht... China 3C Group buys Jinhua Baofa Logistic China 3C Group, a retailer and wholesale distributor of consumer and business products in China, has signed a definitive agreement to acquire 100.0% of Jinhua Baofa Logistic Ltd, a... Evergreen enhances North China Service Evergreen has enhanced its North China service network by adding Tianjin to its China-South US West Coast-China Service (CPS). The 6,332 teu "Hatsu Envoy" was the first to sai... New ground service organisation in Cyprus While negotiations between Turkish and Greek Cypriot leaders aimed at reunifying the island are ongoing, a joint airport services organization has become operational, with hopes ec... Alitalia enters into partnership with Air France-KLM Die neue Alitalia, die aus dem Zusammenschluss des einstigen Staatsfliegers mit der Air One hervorgeht, hat Air France-KLM zum Partner gewählt. Am 9. Januar 2009 wird der Air Franc... Singapore Airlines receives first A330-300 Singapore Airlines wird ihren ersten von 19 bestellten Airbus A330-300 Grossraumjets Mitte Januar erhalten und als Regionalflugzeuge einsetzen. Am 30. März wird der A330-300 dann e... First departure of Grimaldi Lines' new Euro-Aegean service The ro-ro vessel "Grande Sicilia" was dispatched at Hamburg's Unikai Terminal (Germany) in late December 2008, as the first ship to be deployed in Grimaldi Lines' new Eu... Breadbox starts new West Africa Service Breadbox Shipping Lines, headquartered in Schiedam (Netherlands) has launched a new service from North Continental Europe to ports in West Africa. A departure is off... JadeWeserPort plans logistics zone A logistics zone will be established next to the new deepwater container terminal JadeWeserPort in Wilhelmshaven (Germany) a logistics zone will be established. This zone will have... Hanjin appoints Choi as second CEO Die koreanische Reederei Hanjin Shipping hat Eun Young Choi neben Yong Min Kim als zweite CEO ernannt. Yong Min Kim wurde bereits imalten Jahr zum Nachfolger von Präsident und CE... Fly 540 Uganda offers regular regional cargo services A few weeks after taking possession of two 5.5 t uplift Fokker 27-500 cargo planes the Ugandan cargo charter airline Fly 540 has published a wide range of destinations across the r...

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JANUARY 6, 2009
Bourbon vessel hijacked off Nigeria Precious fleet 61% covered for 2009 Evergreen looking at fleet replacement GL buys software company Nigeria ponders single-hull phase-out

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JANUARY 6, 2009
Trico Marine wins offshore Egypt contract Time running out for U.S. Shipping Partners

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JANUARY 5, 2009
Horizon Lines hit with suit by company stockholders Marcon ends year with record sales total Cargill makes donations to combat hunger PDX noise committee sets WebTrak meeting Gulf Navigation takes delivery of new chemical tanker

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JANUARY 6, 2009
US Shipping faces collapse after default TROUBLED Jones Act tanker company reveals it has defaulted on its senior credit facility. O'Kelley in US Shipping hot seat Norden sells bulkers to generate cash DANISH shipping group Norden has sold six dry bulk vessels for a total of $175m.

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JANUARY 6, 2009
US Shipping Partners defaults US SHIPPING Partners has defaulted on its senior credit agreement, bringing the embattled Jones Act barge and tanker operator one step closer today to dissolution Pirates hijack Yemeni ship A YEMENI coastal ship has reportedly been hijacked by pirates Europe feeling Gazprom bite RUSSIAN gas supplies to many eastern European and Balkan states are being disrupted today as a result of Moscow's cut in Gazprom distribution to Ukraine 150 rescued from Norway ferry MORE THAN 150 passengers were today evacuated from a ferry that ran aground off the coast of Norway, maritime officials said India stymied by trucking strike INDIA'S transport strike kept more than 6M trucks off its roads and away from ports today, the All India Motor Transporters Congress said Sri Lanka seeks new yard THE SRI Lanka Ports Authority is negotiating with yard companies in Dubai, India and China over plans for a dockyard in a port being built on the island's south coast, SLPA chairman Priyath Bandu Wickrema said

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JANUARY 6, 2009
Fleet of idle capacity continues to grow Idled capacity has reached 550,000 TEUs, with 210 vessels out of work in the face of sharply falling demand. Shanghai TEUs slow down NY airfreight off 3.4% San Diego tabs port director New US chief for UPS Record year for Montreal New vessel to Danaos Cargolux adds Cairo Yusen opens Mexico unit Merck chooses UPS Laser scan upgraded

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JANUARY 6, 2009
Vancouver container truckers threaten strike Kintetsu World Express to take full control of TKK Logistics NYK president expects pain before 'Yosoro' Suez Canal may cut tolls to combat crisis 200 boxships idle

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JANUARY 6, 2009
Cape for $27m Polembros Shipping reportedly picks up a Hong Kong-controlled ship for well below S&P assessments. Stocks sizzle US shipping stocks continue upward motion as StealthGas and Trico gain more than 20%. Norden sells six Danish owner declares purchase options on panamaxes and handymaxes in order to sell them on for a $13m profit. US owner defaults Tanker and tank-barge player US Shipping fails to pay on credit facility but lenders are willing to talk. Trico in Med deal Joseph Compofelice-led offshore vessel owner bags $20m contract from Petrobel for the MPSV Volantis. Fight for survival Tommy Rathleff appeals for creditor support as Armada battles dry cargo defaults running to hundreds of millions of dollars. Evergreen axes Liner operator cuts the North American workforce of its shipping agency arm. Armada to sink? Bulker operator latest to succumb to market woes as Singapore office seeks protection from creditors. Dof fixes PSV StatoilHydro Brazilian subsidiary to take Norwegian vessel for two years with option for two more. Moral victory Evergreen chief Chang Yung-Fa's magazine on morality sees circulation soar to 220,000 per month. Pay rise Norway's Farstad ties up an anchor handler with Petrobras at significantly improved rate. Latvian rejig Baltic ferry owner Scandlines has reorganised its services to Ventspils as cargo volumes fall. Another close call Ship with 32 Chinese crew outruns pirates on day China's navy arrives in Gulf of Aden. Drilling for cash Citibank arranges $850m financing for Stena's latest drillship order at Samsung in Korea. Northern frights Passengers evacuated as Hurtigruten cruiseship grounds and takes on water outside Trondheim. Ray of light Bulker scrapping reaches seven and a half year high, giving drop of hope to the market, Pareto says. Antwerp rises Belgian box port closing gap on Rotterdam and Hamburg after 6% growth in 2008. More time Felipe Menendez-led Ultrapetrol extends share buyback scheme to "demonstrate confidence." Brazil bound Solstad Offshore AHTS secures $40,000 per day term deal with Petrobras. Box blues Number of idle containerships passes eight year high as level of laid up capacity jumps 83.33% in a month. Sealink sells Malaysian owner's offshore support vessel goes to overseas buyer for profit of MYR 13m. Fatal error Second bosun suffocated in Saga Rose ballast tank due to lower than expected water level, UK accident report finds. Cargoship burns Philippines vessel suffers blaze after timber catches fire during welding work. Bharati builds Indian shipyard takes stake in domestic owner Great Offshore to within a whisker of 15% trigger for offer to buy another 20% slice. Timah eyes four Indonesian state mining company PT Timah could spend $20m on four-ship purchase. Bourbon crew safe French owner makes contact with captain of crew boat seized off Nigeria at the weekend. Boxes overboard Ten containers wash ashore in the Netherlands after falling from Unitas feedership. US repairer sold Private equity firm snaps up commercial ship repair group to go with its Atlantic Marine operation. Amir in at MISC Former head of MISC's tanker arm AET takes over as chief executive at Malaysian shipowner. Extra dredger Australian port of Melbourne moves to complete Port Phillip Bay channel deepening project early.

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JANUARY 6, 2009
NYK president: Long-term deals, diversity key Container capacity falls, layups rise Yang Ming unveils 2 new vessels International air freight plummets 13.5 percent Asian air freight down 15.5 percent in November FedEx pushes out 777 deliveries Con-way settles CF pensions dispute Challenges filed to stop CN's short line buy Indian truck strike impact minimal so far Clashing textile, apparel advice for Obama U.S., global manufacturing in tailspin Merck outsources logistics to UPS UTi taps UPS executive as CEO Customs publishes AES penalty guidelines FMC reviews 29 OTI license applications Shanghai still No. 2, but grows 7% Tianjin port grows 20% in 2008 Shekou volume up 24% in 2008

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JANUARY 6, 2009
Volatility returns to bunker markets European bunker prices surge for third day. Russian oil export duties cut in January Fuel oil export duty down by $26.5 pmt. Aegean selected to be sole supplier at Tangiers Agreement will give Aegean exclusive bunker supply rights out of the port for 25 to 30 years. Shipping group 'optimistic' for year ahead Bunker prices in the first quarter '50% lower year-on-year'. Durban barge rates rise New year brings rise in bunker delivery rates. Bunker demand expected to weaken Japanese refiners to reduce fuel oil output in January. Team changes at Engen New Marine Fuels Manager and Marine Sales Executive in place. Singapore bunker prices at two-month high Bunkers sees double-digit gains across most Asian ports on Tuesday. Saudi Aramco offers late-January fuel oil cargo Refiner requests interested buyers to submit bids as soon as possible. Kuwait to deepen cuts in oil supply OPEC members seen to be complying with output cuts. Indian oil firms plan strike Fuel supplies may be disrupted if there is prolonged action. Colombo box terminal nears capacity Terminal operator, associate of John Keells, needs to build new capacity. ITOPF assesses environmental risk from sunken barge Barge sank with diesel oil onboard in November.