Shipping to recover in 3-5 years: Cosco chief The global shipping market will recover in 3-5 years, led by the container industry, which has already started to return to profit, a top executive said yesterday.
Strait Talk
Somali piracy is not 'a peril of the sea' YET again, I'm afraid, the subject this week is piracy. And there is good news and bad news. There was some good news last weekend. The 14,445 dwt Singapore-flag chemical tanker Golden Blessing was released. The associated bad news, of course, is that the crew suffered four months' captivity and a gang of criminals is several million dollars richer.
Shipping Times
No injuries as S'pore-KL train derails A passenger train derailed in Singapore yesterday during a routine service but nobody was injured, the Straits Times reported on its website.
Shipping to recover in 3-5 years: Cosco chief The global shipping market will recover in 3-5 years, led by the container industry, which has already started to return to profit, a top executive said yesterday.
Strait Talk
Somali piracy is not 'a peril of the sea' YET again, I'm afraid, the subject this week is piracy. And there is good news and bad news. There was some good news last weekend. The 14,445 dwt Singapore-flag chemical tanker Golden Blessing was released. The associated bad news, of course, is that the crew suffered four months' captivity and a gang of criminals is several million dollars richer.
Shipping Times
No injuries as S'pore-KL train derails A passenger train derailed in Singapore yesterday during a routine service but nobody was injured, the Straits Times reported on its website.
Shipping to recover in 3-5 years: Cosco chief The global shipping market will recover in 3-5 years, led by the container industry, which has already started to return to profit, a top executive said yesterday.
Strait Talk
Somali piracy is not 'a peril of the sea' YET again, I'm afraid, the subject this week is piracy. And there is good news and bad news. There was some good news last weekend. The 14,445 dwt Singapore-flag chemical tanker Golden Blessing was released. The associated bad news, of course, is that the crew suffered four months' captivity and a gang of criminals is several million dollars richer.
Shipping Times
No injuries as S'pore-KL train derails A passenger train derailed in Singapore yesterday during a routine service but nobody was injured, the Straits Times reported on its website.
MOL adopts low-friction ship bottom paint on a new PCTC The Japanese shipping company MOL recently used low-friction ship bottom paint called "LF-Sea" on a new pure car and truck carrier (PCTC). The coating was developed by Nippon Paint...
HHLA: testing electric vehicles for container transport The German port handling company Hamburger Hafen und Logistik AG (HHLA) is participating in a research project with battery-driven container transport vehicles. The goal is to ...
Marcegaglia happy after the first year of Omnia River's service A new inland shipping service along Italy's River Po, which runs between two plants of the Italian iron and steel group Marcegaglia, is considered to be quite a success a...
Logwin opens Perth office to expand Australian and regional networks Grevenmacher (Luxembourg)-based Logwin, a leading air and ocean freight and logistics service provider, has opened a new office in Perth (Australia), thus expanding the compan...
Pacer International reports Q3/2010 results Concord CA-based Pacer International Inc, the North American freight transportation and logistics services provider, has reported its financial results for the Q3 and nine-mon...
Lehnkering expanding its liquid transportation business The German logistics service provider Lehnkering took over the liquid bulk business for rubber-lined equipment from Nijhof-Wassink in H'rstel (M'nsterland, North Rhine-Westpha...
Tiact launches iCargo Tokyo International Air Cargo Terminal Ltd (TIACT) has started using the IBS iCargo JTO solution to manage all its ground handling operations at Tokyo's Haneda Airport. With this I...
EADS and Airbus welcome A400M agreement with customer nations EADS and Airbus have welcomed the conclusion of negotiations with OCCAR and the seven A400M launch customer nations. The agreement, which was recently finalised in Toulouse (F...
Nautilus: UK safety net fraying NAUTILUS UK warned today that the UK's maritime safety infrastructure could crumble under the government's spending cuts
Box ship aids cruise vessel DRESDEN Express, a Hapag-Lloyd box ship, was involved in preventing a cruise ship fire from becoming a tragedy, the US Coast Guard told Fairplay today
Brazil's first box jumbo docks HAMBURG S'd today began operating Brazil's largest box ships in regular service
Phnom Penh volumes jump THROUGHPUT at Phnom Autonomous Penh Port reportedly rose by 46% in the first 10 months of the year, compared with the same period last year
Helsinki chases 2008 volumes HELSINKI has posted a 15% year-on-year rise in volumes for January-September, but throughput was still 14% below 2008's figures
Exchange rates boost Bourbon FRENCH offshore vessel operator Bourbon today reported a 6.5% year-on-year rise in third-quarter revenues to €222.2M ($309.9M), helped by a favourable dollar-euro exchange rate
DHL profits rise on bookings DHL GLOBAL Forwarding reported a 34% increase in pre-tax profits for Q3 today, underpinned by better ocean freight earnings
Owners pray for winter wonderland Fearnleys cuts forecasts tied to tanker earnings but says it could be a jolly holiday season for owners if US and Chinese consumers crank up the heat.
Nigerian grabs Noordhoek MSV African engineering contractor Euroflow Designs crowned 'owner' after snatching offshore unit from the auction block.
Italian trio step in at Tirrenia Gianluigi Aponte, Emanuele Grimaldi and Vincenzo Onorato come to the rescue of insolvent ferry firm.
Fredriksen grabs Chinese pair John Fredriksen-controlled Ship Finance International snaps up two supramax newbuilds at Zhenghe on the back of 10-year charters.
Trico battles bond blunder Bankrupt offshore owner's road to redemption takes new turn amid covenant breach and botched bond payment.
Navios Acquisition in tanker twist Angeliki Frangou-led owner pens two more LR1s but is holding off on four other newbuildings.
MEND mulls ransom demand Brood of Nigerian bandits a likely topic at UN piracy roundtable as US races to secure release of nationals snatched from oil rig.
A fair deal at Fairstar? Two new investors have forked out vastly different sums for stakes in the Oslo-listed owner.
Sevan secures E.ON deal Oslo-listed offshore owner puts finishing touches on $535m FPSO contract with UK energy firm.
Turkey's economy looking juicy Metin Kalkavan says with nation's macro economy at pre-crash levels the maritime sector if far from stuffed.
AMPTC lands $93m bank boost Middle Eastern finance firm taps vault to aid Arab Maritime Petroleum Transport Co's aframax tanker splash.
Fesco takes box IPO chunk Russian container line splashes cash on stake in Russian Railways' TransContainer operation.
Disposals still boosting Varun Indian owner's six-month profit ahead of last year thanks to sale of LPG carrier.
TBS International cutting losses US bulker owner improves nine-month result, but deal with banks not yet sealed.
JES International joins offshore rush Singapore-listed shipbuilder talks of building FPSOs and rigs as it posts stronger Q3 figures.
Last WW ship exits lay-up Norwegian owner puts "famous" Tampa back to work leaving it with no more mothballed vessels.
Standby ship burns in North Sea Ocean Sun loses power in one engine after blaze off UK's east coast.
Tax rejection turns WWASA red Jan Eyvin Wang-led Wilh Wilhelmsen ASA clobbered by tax charge after it is refused entry into the new Norwegian system.
Supply ships collide in Norway Edda Fjord holed in accident involving Mokster's Prosper outside Tananger.
French tanker grounds off Sweden Chantaco's ballast tanks breached after it drags anchor near Oxelosund.
Chinese finance to fuel orders European owners will turn increasingly to China for new vessels following rise of Chinese shipfinance sector, says George Xiradakis.
Souri confident over sanctions NITC chief says shipowner will not face problems after EU toughened stance on Iran.
Blazing cargoship drifts aground Crew abandoned Syrian livestock carrier as fire tore through vessel off Yemen.
Fredriksen buys more Golar Energy Tor Olav Troim also picks up shares issued as special dividend by parent Golar LNG.
Teekay Offshore lines up bonds Shuttle tanker and FPSO unit heads to Norway to raise funds to pay off older debt.
Bourbon boss tips better 2011 Jacques de Chateauvieux predicts "more substantial growth" in oil company activity next year as owner books improved Q3 revenue.
Golden sells and fixes Herman Billung-led bulker owner cuts loose one panamax and ties up another four on charters.
Danaos scrapes to a profit John Coustas-led containership owner manages to creep into the black in the third quarter.
Asian owners plot yard return Hanjin Shipping and CSCL poised to pen new containership deals as markets improve.
Petrobras delays drillships again Brazilian oil giant extends deadline for yard bids to build 28 vessels worth $18bn.
Steady as she goes at Safe Profits at Polys Hajioannou-led bulker owner largely unchanged from 2009 as it looks to tie up tonnage.
Blaze cripples Carnival ship Cruise ship left dead in the water following major engine room fire off the coast of Mexico.
Hjaltland halted by Scottish storm NorthLink ferry diverted 100 miles south after being battered by strong winds off Aberdeen.
More Evergreen orders "soon" Liner company's chairman Bronson Hsieh says deals for 8,000-teu ships next in line as spree continues.
Sofia suffers leak at Los Angeles Chemicals spill from three boxes on Maersk vessel, but no injuries reported.
Eagle Bulk soars high Sophocles Zoullas-led bulker owner triumphs in the third as revenue climbs 75%.
NOL rates continue slide Singapore liner operator sees average revenue per feu continue to decline after peaking in August.
Keel laying of the first Bore-twin in Flensburg The keel of the first of two ro-ro vessels ordered by the Finnish shipping company Bore from Flensburger Schiffbau-Gesellschaft in Germany was laid on November 8, 2011. The
Distillate price jumps $20.50 in Suez Durban distillate deliveries available up to and including November 23.
Prices bounce back in Rotterdam, Hamburg Tight HS avails until next week in Hamburg.
New low-friction paint to reduce fuel consumption Product said to reduce fuel use and CO2 by 4%, aim is to develop 'ultra-high fuel efficient ship bottom paint' with bigger savings.
ICS gives 'cautious welcome' to UNFCCC report Report 'acknowledges the complexities' of generating funds from shipping and recognises IMO as 'most appropriate forum' for finding solutions.
Crude oil prices will be 'steady' in 2011 But oil prices could start moving towards previous highs in the years that follow, says commodity strategist.
Generally firm bunker prices in Asia Mostly average demand at Asia's key bunkering hubs.
Adverse weather disrupts bunker ops in Far East Russia Local traders uncertain when full bunker operations will resume.
IBME expands Dubai office With addition of three traders, says company.
Slow steaming not a 'temporary measure' 78% of container ships on the Asia to Europe trade route and 53% on the trans-Pacific lane uses slow steaming, says Hanjin Shipping top official.
Fire fighting ops continue on stricken ship Fire 'hot spots' mostly in cargo spaces, away from fuel tanks, according to reports.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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