Shipping sector set for more turbulence Trade conditions now are even worse than in the 1930s, a senior shipping industry official said here on Tuesday, with weak global demand and fleet oversupply set to dampen recovery prospects for the seaborne transport sector.
MMC shares see biggest jump in 8 yrs MMC Corp, the Malaysian builder and port operator, jumped the most in more than eight years in Kuala Lumpur trading amid speculation that the company may win contracts included in the government's stimulus packages. The stock surged as much as 13 per cent, the most since April 2001, before trading 7.7 per cent higher at RM2.39 (S$0.97) at 4.27pm local time. The benchmark FTSE Bursa Malaysia KLCI index added 1.1 per cent.
6 pirates held for attempted robbery Malaysian police say they have captured six Indonesian pirates who tried to rob the crew of a diesel tanker.
Logwin expanding in India The worldwide logistics services provider Logwin has founded its own countrywide organization in India. In the first half of this year, four new branches opened in Delhi, Pune, Che...
DSV opens logistics complex in Kaliningrad OOO DSV Transport, a subsidiary of the Danish DSV group, phased in a class A transport/logistics complex in Kaliningrad at the beginning of July. The platform is located close to t...
RH Group reports steady results The RH Group Ltd has announced another consistent year despite the pressures facing the freight industry and the whole economy. The UK's largest European freight operator has repor...
Global Logistics Network attracts 300th member Global Logistics Network recently reached another a major milestone by attracting its 300th registered network member - Explolanka Freight Ltd of Johannesburg (South Africa). ...
Shareholders wrangle over Hapag-Lloyd aid CARRIER's shareholders still locked in talks over a cash injection for the struggling container line.
Yards struggle to keep pace with deliveries ONLY a quarter of dry bulk carriers scheduled to enter service in 2009 have been delivered.
Shippers warn against super-alliances GROUPS say non-ratemaking shipping agreements must strike balance between competition and efficiency and cost savings.
Brussels approves Gdansk deal SHIPYARD to close two out of three slipways and limit production to 100,000 gt a year.
Wärtsilä fears cancellations FINLAND'S Wärtsilä told Fairplay today that it faces the possibility of €800M ($1.1Bn) in marine engine contracts being cancelled this year
No cash-back in Gdansk deal THE EC today formally accepted the Gdansk shipyard restructuring and granted '251M ($356M) in public aid
BP sees 9% N Sea oil drop BP SAID today its North Sea output will fall this year by about 30,000bpd, or about 9% ' almost double the estimated percentage decline expected for the entire UK sector
UK to press EC on French ports THE UK'S small businesses and road hauliers are today lodging an official complaint with the EC, demanding that action is taken against France to prevent more port blockades
More KG vessels bailed out GERMAN KG shareholders in the 1,080teu vessels Tampa Bay and Turtle Bay and the 1,116teu Vega Turmalin have voted for a capital increase to save the ships from insolvency
VSA keeps Mobile happy A VESSEL sharing agreement involving three box lines is boosting volume by 15% a week at Mobile Container Terminal in Alabama
Eitzen expands fleet by six NORWAY'S Eitzen said today the group has expanded operations by agreeing to manage six gas carriers for Germany's MPC Münchmeyer Petersen Steamship
Seacor defies gulf Profits improve at US offshore and tanker owner Seacor Holdings even as lay-ups and falling rig movements led revenue to drop.
Promitheas bound Nikolas Tsakos' Tsakos Energy Navigation takes aframax products tanker out of spot market with six-month time charter.
Euronav converts Belgian tanker owner reports plunge in quarterly profits and switches VLCC order to suezmax pair.
Clipper cashes in Frank Jensen's Clipper Bulk sells Kamsarmax bulker before bulging orderbook changes market sentiment.
CSAV shuffles Chilean liner operator re-jigs Supergalex service to focus on the Persian Gulf and launches new India-China line.
Capsize kills 2 Two people are confirmed dead and three are expected to face charges after Amazon ferry capsizes with 185 people on board.
Ore wars Arrest of Rio four has sliced iron ore shipments between Australia and China, figures show.
Double disposal Japanese giant MOL sends two boxships to be cut up in China with a third expected to follow this month.
Acting on security Liberian Registry implements act that allows its ship mortgages to be eligible as collateral for German covered bonds.
Greek bulker held Greek bulker held for six days in UK with Schulte gasship and Norwegian PSV also detained.
Spat ties up ship Cargo on the Golden Star attached in Louisiana, holding up the vessel despite $21,500-per-day charter cost.
Partner sought India's Dolphin Offshore shortlists joint venture candidates for new INR 4bn shipyard.
Titan takes off Shares in Hong Kong shipowner and shipbuilder surge 15%, but company at a loss as to reason.
Gdansk reprieved Europe rubber-stamps Polish yard's restructuring plan that allows it to keep state aid.
Explosives found Ferry which suffered blast killing three in May now found with bomb materials onboard.
Dutch growth Port of Amsterdam manages 2% volume increase in first half as oil products keep it ahead.
Crude awakening Amount of oil passing through Suez Canal slumps in first half but tanker numbers only down a bit.
Duo detained Hong Kong inspectors hold two containerships in June, one for OWS modification.
Eitzen bags fleet Eitzen Gas inks pact with MPC to take over commercial management of its LPG vessels.
Eitzen crew free Six crew of chemical carrier taken hostage in Nigeria freed after three weeks in captivity.
Bligh lets fly 'Swire Levy' threatened on all ships in Australia as state premier Anna Bligh readies spill crusade.
Bulker sale Romania begins latest attempt to privatise handysize player CMN Petromin.
Brazil cut AWB slices its Brazilian business amid forecasts its losses will top $50m this year.
Brief blaze Samudera tanker suffers explosion during berthing in Borneo, but crew extinguish fire quickly.
Dockers out Crane operators strike at Bangladeshi port of Chittagong in pay row.
Musical chairs Senior managers at cruise industry giant Carnival are shifting seats.
Wartsila ahead Six-month profit rises at Finnish ship engine maker, but new orders plunge.
P&I agency sold Thoresen Thai disposal puts value on P&I correspondent business.
Itajai down Cargo volumes at the Brazilian port of Itajai are down for the first half of this year but figures for June give some renewed hope.
Bank gets quintet Deal with Eastwind Maritime's trustee allows Tokyo Star Bank to foreclose on five chemical tankers.
Warships for HHI Hyundai Heavy Industries has tied up a strategic co-operation with Lockheed Martin to build Aegis destroyers.
Zhenhua lands rig Chinese container crane maker Shanghai Shenhua Heavy Industry has landed a $2.2 billion contract to build offshore jack-up drilling platforms.
Queen crash Dinner cruise vessel slams into pier in Cleveland, US, injuring one passenger.
European bunker prices lack direction Rotterdam 'extremely quiet'.
US oil inventory report confirms market forecast Moderate decline in stocks of crude, increase in oil product inventories.
New supplier in Aden Adoil Petroleum has been delivering in the port since the beginning of July.
Turkish supplier deploys MGO barge Vessel will help meet growing demand for low sulphur distillates.
Another call for mandatory marine fuel standard INTERTANKO points out that there is no enforcement mechanism for ISO 8217 and regulation 18 of MARPOL Annex VI.
Saudi Aramco offers fuel oil cargoes Analysts say the fuel oil market is being underpinned by strong fundamentals.
Tanker numbers 'stable' in Suez Canal But canal official says lower bunker prices and an increase in the canal fees has hit overall numbers.
WWL continues environmental efforts Pursuing a range of fuel-saving technologies.
WWL lays up a quarter of its fleet Ships 'with the highest fuel consumption' chosen, lay-ups to last for 'at least a year'.
Bunker prices continue to fall in Asian markets Prices in Tokyo Bay, however, climb on tight avails.
Japan bunker market 'dries up' Very tight supply conditions as refineries cut runs.
India urges 'immediate' removal of sunken ship's fuel Fears threat to marine life and fishing activities.
Weak demand stifles SPC Q2 profit Net profit plunged 76% while revenue dived about 50% compared to last year.
Swire urged to pay entire bill for bunker spill Queensland Premier Bligh says Swire has 'a moral obligation' beyond limited liability payment.
European fuel oil prices rise $10 Lower refinery production reported.
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