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Shipping News

Criteria for laying up vessels
IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July
Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands
The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port

Strait Talk

Impairment and other dilemmas
ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.

Shipping Times

US car trade-in scheme draws 16,000 dealers
Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat
For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen'
The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan

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Shipping News

Criteria for laying up vessels
IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July
Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands
The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port

Strait Talk

Impairment and other dilemmas
ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.

Shipping Times

US car trade-in scheme draws 16,000 dealers
Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat
For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen'
The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan

web site

Shipping News

Criteria for laying up vessels
IN the current economic conditions, many ship owners are laying up their vessels to avoid unprofitable sailing and to reduce running costs. Some market estimates indicate that as many as 5,000 ships may be withdrawn from service.
HK bunker rates lag S'pore's in July
Hong Kong bunker rates have slipped below Singapore levels at least once earlier this month, due to lower shipping traffic in the territory and as shrinking supply in the city-state pushed up prices, traders said.
Hostage talks stall after Somali pirates up demands
The imminent release of 24 hostages on board a German ship hijacked off Somalia in April has been delayed after pirates demanded a higher ransom, a gang member said yesterday.
Drybulk Q2 results in line with estimates
Hapag-Lloyd could get 300m euro injection
Samsung Heavy, Hyundai Mipo Q2 profit drops
BW Offshore eyes Petronas FLNG engineering study
Mid-East tanker glut shrinks for first week in four
Ship queues ease at Newcastle coal port

Strait Talk

Impairment and other dilemmas
ONE obvious consequence of a recession is that ships drop in value. Equally obvious is the pain this means for shipowners who would like to sell their vessels. But the wider problems caused by falling vessel prices go well beyond the obvious.

Shipping Times

US car trade-in scheme draws 16,000 dealers
Almost 16,000 US car dealers have applied to participate in the 'cash-for-clunkers' vehicle trade-in programme, or about 80 per cent of the nation's new-vehicle retailers, Transportation Secretary Ray LaHood said.
London black cabs under threat
For decades, London's black cabs have been as much an emblem of the city as Buckingham Palace or Big Ben - but now their drivers fear the industry is under threat.
Texting while driving 'a crash waiting to happen'
The Virginia Tech Transportation Institute analysis about the dangers of distracted driving drew from two studies involving seven major trucking fleets, and 200 of their drivers who took turns driving 55 long-haul trucks.
Stimulus funds to prop up NY roads
US rail to repay coal rates for overcharging
Govt aid ensures profitability of electric car: Nissan

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First half-container throughput at China ports down 10.9pc Shanghai down 15pc year on year, but up 13pc in June from May Shenzhen down 19.8pc year on year, but up 2.1pc in June from May IMO calls for global drive to cut carbon dioxide from ships New mega berth at Shenzhen's YICT commences trial operations Horizon Lines second quarter profit plunges, but beats expectations Zhejiang provincial port throughput increases 20.6pc in June Port of Yantai half-year throughput up 6pc Global Shippers Forum approves non-rate making liner agreements Team Lines to buy APL slots to call at St Petersburg Packaging Logistics uses RFID to track boxes, pallets TNT opens operations centre in Ho Chi Minh City FedEx expands hybrid-electric fleet by 50pc Con-way back in black in Q2 after loss-making first quarter Air China Cargo launches Beijing-Hangzhou air-truck intermodal service United to lays off 2,100 flight attendants in voluntary scheme Air France-KLM quarterly cargo revenue falls 41.5pc

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DB Schenker India opens new trade lane with Africa & Middle East regions Funding tonnage acquisition left to mercy of individual banks Wärtsilä bags contract to operate & maintain dry dock at Paradip Port Retired port workers to get medical benefits on par with Central staff Port Pipavav extends a hand to capital clients Steps being taken to soften recessionary impact on Major Ports-Vasan Vallarpadam ICTT commissioning in Dec. Pranab powers economic growth engine with more tax breaks RBI keeps key policy rates unchanged Bankmen called for talks on Friday

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JULY 27, 2009
Ceva Group reports Q2/2009 results Ceva Group Plc announced that its Q2 and half-year 2009 results will be published on 12 August 2009. Ahead of the Q2 results, Ceva has said that there have been improvements across... Stobart Group wins major non-food contract with Tesco Eddie Stobart Ltd, part of the UK-based multimodal transport and logistics solutions service provider Stobart Group, has announced that it has been awarded a distribution contract ... Panalpina disputes shareholder compensation complaint The Basel (Switzerland)-based transport and logistics provider Panalpina has confirmed the receipt of a complaint (court of jurisdiction Laredo, TX/USA) by Deccan Value Advisors LP... TNT expands its operations in Vietnam and Indonesia The Dutch CEP service provider TNT recently officially opened its expanded and redesigned international and domestic operations centre next to the Tan Son Nhat international airpor... Qatar Airways opens office in Washington Qatar Airways recently opened a new office in Washington DC, to fortify its commitment and presence in the US market. The ceremony was attended by locals VIPs and bu... British Airways increases capacity to Jeddah British Airways, the UK's flagship carrier, which restarted its services to Saudi Arabia on 1 June, is to boost capacities on its Jeddah service during its winter schedule fro...

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JULY 28, 2009
Consultores de Navegacion fined $2m for pollution case Ship finance sells single hull VLCC Teekay profit down OW grows in Greece

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JULY 28, 2009
Blackstone hires Crowley to manage NASSCO-built tankers Shell inks FLNG agreement with Technip and Samsung $2 million fine in "magic pipe" case

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JULY 28, 2009
Hapag-Lloyd to sell box terminal stake for $446m CONTAINER line has agreed to sell its 25.1% stake in Altenwerder as part of a rescue package agreed with key shareholders. Liverpool faces backlash over cruise upgrade plan BID to upgrade terminal sparks resentment from other operators still angry over city's cash handout from EU. Chamber of Shipping members urge reform HIGH-profile members warn of resignations unless the trade association is overhauled.

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JULY 28, 2009
Hapag seeks charter rate cuts TRADING conditions in box shipping are so difficult that Hapag-Lloyd has asked shipowners in a letter to cut charter rates significantly TMM losses skyrocket MEXICAN shipping and logistics company Grupo TMM suffered severe losses in the second quarter, dragged down by its country's worst economic crisis since 1995 Blackstone unveils tanker plan CROWLEY Maritime has been tapped to manage five product tankers owned by private equity firm Blackstone, following the bankruptcy of US Shipping Partners Operating costs seen falling THE COSTS of running a ship are likely to fall despite the recession, Drewry Shipping Consultants told Fairplay today Beijing clears CSIC's IPO BEIJING has approved an IPO by China Shipbuilding Industry Corp, one of the Big Two in the Chinese newbuilding sector Teekay profits squeezed TEEKAY belatedly issued first-quarter results today, with the corporation logging just one-sixth of the profits of the same period last year Drybulk's bulls returning JP MORGAN has switched from bearish to bullish on Chinese iron ore demand and substantially raised its 2009-10 drybulk outlook today

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JULY 28, 2009
Rangel, Obey Seek $5 Billion for Highway Trust Fund FreightCar Sales Down 26 Percent to $104M FreightCar Error to Boost Income FHWA May Slow Flow of Highway Funding to States Ocean Carriers Combine Europe-South America Services Paccar Profit Dives 92 Percent US, China Officials Discuss Trade, Growth Hapag-Lloyd Gets $447 Million Boost from Terminal Sale Food Safety Bill to Omit Brokers EU Slams Container Security Initiative BBI to Sell Stake in Euroports at a Loss Consumer Confidence Wanes in July AMB Returns to Profitability UPS Launches Mexico-U.S. Ground Shipping Trucker Covenant Loses $3M Danaos Profit Dips, Revenue Grows Forwarder Yusen Loses $9.7 Million

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JULY 28, 2009
'Chinamerica' talks underway Matson profits slump on lower volumes CN withdraws local rail service to three Vancouver container terminals Pirates and downturn hit Suez Canal

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JULY 28, 2009
TMM loss swells Tanker and offshore vessel owner suffers $66.3m loss as Mexican economy sours. Analyst ups dry JP Morgan lifts 2010 bulker owner earnings estimates by nearly 10% as Chinese iron ore helps capes. Petronet buying 2 Indian LNG terminal owner plans to invest $520m for a pair of LNG carriers for Kochi imports. TDW ups credit US offshore vessel giant Tidewater secures $450m revolving credit facility from lenders led by Bank of America. Casualty file The sinking of a handysize bulker off South Africa and footage of a Swedish ferry collision lead this week's edition. Vale port crash Louis Dreyfus' capesize Pierre LD hits jetty at Brazilian miner's Guaiba iron ore terminal. Blackstone sails After settlement with US Shipping Partners, investment firm's five-ship American Petroleum Tankers hits the water under Crowley management. Teekay in line Bjorn Moller-led Teekay's first quarter profit measures up well against analysts' estimates. Red ink waiting Wei Jiafu's Cosco will post a half year loss with both its bulkers and boxships failing to make money, company warns. More time Parry-led Aries Maritime Transport agrees to give Grand Union more time after deadline for hurdle passes. All change Kristian Siem warns of redundancies at Rovde as Siem Offshore's operations transfer to Kristiansand. ABG level Profit barely budges at Indian shipyard group despite sales soaring as stock increase held back. Boxship delayed Last of four "very economical" boxships on order from Qatar Nav at Daesun to be delayed. Mipo profit dives Bottom line slashed in half in second quarter at Hyundai Mipo Dockyard despite sales gain. Magnificent 7 Subsea 7 beats market expectations in the second quarter with some "very strong numbers". Angel delight Hallin bags $6.5m offshore construction support contract with major oil and gas player. Naughty Nautilus Spanish manager of chemical tanker caught using 'magic pipe' in US hit with $2.08m fine. Steel misery Samsung Heavy Industries points the finger at the cost of steel as its profit dips. Bullish on boxes Danaos boss John Coustas flags visible signs of a recovery in the container sector as shipowner's profit stacks up well against forecasts. No entry Tourists will see a drop in the number of cargo ships on Shanghai's busy Huangpu River next year. More funds sought Major shareholders TUI and Hamburg government could hand EUR 330m to Hapag-Lloyd. Tankers delayed Vietnam domestic tanker deal put on hold because of 'financial difficulties' at yard.

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JULY 28, 2009
Danaos: "Signals of a visible recovery" TNT operating income down 45% Short-sea shipping boosted by Senate, DOT STB rules in Union Pacific rate case Truck index slips into reverse DHS outlines progress of efficiency drive Quandt heads international sales for AGS DHL starts LCL service from Malaysia to Shanghai, L.A. Calif. truck battle moves from courts to Congress Two new proposals for Va. Terminals San Diego port responds to report on financial losses

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JULY 28, 2009
Marinoil expands service in Mexico New double-hull barge 'first of its size' with range of grades offered. Northern Europe bunker prices mixed Rotterdam avails tight as product leaves for Asia. Fuel oil stocks shrink Fall in refinery runs has had an impact on global fuel oil inventories. Reports: Rotterdam bunker sales down Traffic and throughput fall in first six moths of 2009. Primorsk bunkering volumes rise 14.3% year-on-year increase reported for first half of 2009. Fuel oil price 'may surpass crude' Current price approaching that of crude as global refinery cuts squeeze supplies, hurting shipping companies. Ship operator expects 'substantial rise in bunker prices' MOL revises down its full-year profit forecast. BP profits fall Chief Executive says recovery will be 'long and drawn out'. Tight supplies continue to support prices Korea's Busan port registers biggest jump in prices Tuesday. 'Slow progress' in bid to move ferry wreck Philippine officials blame bad weather for lengthy salvage operations. Shell New Zealand hopes to sell assets by year-end Assets include downstream businesses and stake in refining firm.