BRIEFS

web site

Shipping News

Oil tanker hire costs rise on pre-holiday bookings
Hire costs for the largest oil tankers hauling two million barrels of Persian Gulf crude to Asia advanced to the highest level in a week, as oil companies and traders prepared to book ships ahead of the holiday period.
Tanker glut to spell losses for shipowners
The biggest glut of crude tankers in a quarter century means at least another year of losses for Frontline Ltd and Overseas Shipholding Group as the shipping market suffers its worst rout since the mid- 1990s.
Drydocks debt revamp almost done
Drydocks World, a unit of Dubai World, expects to complete its long-delayed debt restructuring by the end of March 2012 and has not asked the Dubai government for financial support, its chairman said on Tuesday.

Strait Talk

Challenging times for shipping industry
GIVEN the unremitting bad news that has been coming in from all directions over the past few weeks, it is a bit surprising to discover that overall confidence levels and the likelihood of major new investments in the shipping industry in the next 12 months has picked up, albeit marginally.

web site

Shipping News

Oil tanker hire costs rise on pre-holiday bookings
Hire costs for the largest oil tankers hauling two million barrels of Persian Gulf crude to Asia advanced to the highest level in a week, as oil companies and traders prepared to book ships ahead of the holiday period.
Tanker glut to spell losses for shipowners
The biggest glut of crude tankers in a quarter century means at least another year of losses for Frontline Ltd and Overseas Shipholding Group as the shipping market suffers its worst rout since the mid- 1990s.
Drydocks debt revamp almost done
Drydocks World, a unit of Dubai World, expects to complete its long-delayed debt restructuring by the end of March 2012 and has not asked the Dubai government for financial support, its chairman said on Tuesday.

Strait Talk

Challenging times for shipping industry
GIVEN the unremitting bad news that has been coming in from all directions over the past few weeks, it is a bit surprising to discover that overall confidence levels and the likelihood of major new investments in the shipping industry in the next 12 months has picked up, albeit marginally.

	web site

Hapag-Lloyd drops Oakland and Seattle for Manzanillo, Mexico on PAX loop BIMCO: Box shipping can weather economic storm, but more lay-ups needed Shanghai-Yangshan joins 34 ports with US standard nuke detection devices Fix-rate contracts still the norm, but longer-term indexed deals grow Gansu cargo movement to surpass the 350 million tonne mark in five years Fast growing halal trade becomes focus of joint Malaysian-MIT study Express truck lane open for imported reefer boxes at Manila's MICT Scrap tariff filing, says FMC's Dye - not so fast, say shippers Cargo slump prompts Cathay Pacific to delay delivery of two 747-8s Drewry air cargo rate index rose 14pc high in October, year's highest Jakarta legislator calls Malaysian air deal unfair, wants to end it

	web site

TNWA, GA shipping lines create new Far East-Europe alliance 20 lb cotton exported till date: Pawar Coffee exports likely to decline 15 pc this fiscal-Coffee Board All India Major Ports Cultural Meet begins Govt may expedite process of awarding port expansion projects JNPT Chairman outlines path to world class logistics at CTL 2011 NMPT welcomes maiden container rake Panel appointed to study cargo handling operations at Chennai Port Port workers' unions demand creation of bipartite wage negotiation panel Radiation Monitor Portals at ports Vallarpadam ICTT connects to China BNP revises India's GDP forecast to 6.5 pc Focus on MSMEs backed by CII Forex reserves fall to $ 306.775 bn; indicate $ 69 m decline Release orders issued for sugar exports

	web site
DECEMBER 20, 2011
Tugboat contract for Chesapeake Shipbuilding Pacific Drilling takes delivery of fourth drillship

	web site
DECEMBER 20, 2011
Maritime Commerce Club calling for 'Old Salt' nominations Jensen designing tugs for Moran Towing Corp. Hamburg Sud restructuring Eurosal, Europe to America runs Alliances joining forces to serve Far East/Europe trades Mitsui nets first contract to haul LNG from Indonesia

	web site
DECEMBER 20, 2011
West of England maintains A-rating AM Best to monitor the club's progress Another setback for Solvency II Marine insurers share the non-marine industry's frustration Q&A: American Club chief executive Joe Hughes On why general increases are justified and why fixed-term premiums have their place More pain, less gain for insurers in 2012 Premiums static and cover reduced as insurers prepare for a tough new year Telling it straight Transparent value estimates could help owners to ease the cost of capital G6 a domino reaction to Daily Maersk Shippers broadly supportive of consolidation move G6 alliance boasts biggest share on Asia-north Europe trades Gang of Six takes top spot from larger rivals Baltic Sea aframax glut cuts daily spot market earnings in half Owners still pinning hopes on an ice season spike but cold snap is not yet on the horizon Höegh to charter out LNG Libra for six months Daily rate of $70,000 predicted for the 30-year-old vessel Even Santa needs seafarers... Protecting the welfare of those who really deliver the goods must remain a priority An Inconvenient Truth More twists and turns than a blockbuster: new-year energy trends will surprise us IMO: No mandate needed but green light welcome While measures for tackling emissions have been created by the organisation, these have not been directed by the UNFCCC Europe still looking at its options As aviation is drawn into the EU ETS and creates problems, this could have implications on shipping Getting 2020 vision after Durban While there remains uncertainty over shipping's role in UN climate change talks, some clear signs are now emerging New Black Pearl partnership in the Americas for MSC and CMA CGM Carriers upgrade services between US east coast and west coast Latin America Fuel price increase sparks first-quarter caution at Carnival Micky Arison-led cruise major finally begins hedging Grand and New World Alliances form a new Gang of Six G6 shores up Asia-Europe presence with 90 ships covering 40 ports MOL wins 10-year Indonesian LNG deal Liquefied natural gas to be shipped from Indonesian ports to floating storage facility off Jakarta Outrage after judge accuses German lender of 'reckless disregard for truth' Omega Navigation scores Chapter 11 victory over HSH Nordbank BW Gas builds LNG import terminal for its own ships Oslo-based company expects to complete $350m project by 2014 Moody's downgrades Hapag-Lloyd outlook to negative Rating reflects a tough 2011 and gloomy prospects for the industry next year MCA arrests six ships in November Seven held from previous months Greek-owned aframax tanker chartered out for three years Daily rate appears to show benchmark has lowered Concern mounts over crew on detained cargoship Dyckburg Trade union Nautilus and the International Transport Workers' Federation raised fears about outstanding wages and rights to be repatriated MHI built fewer ships but increased tonnage in 2011 Bleak outlook for shipbuilding income Non-compliance has a cost Study reveals some owners are attempting to skirt EU sulphur rules German tramp owners join forces Haren-based co-operatives unite players in feeder boxes and in mini bulkers Drydocks World debt restructure will require government approval Dubai yard expected to conclude $2.2bn negotiations by March Moody's withdraws PIL's rating Move comes at company's request following delisting of Pacific Shipping Trust India's port capacity to top 3bn tonnes by 2020, says shipping minister Cargo throughput less than 1 bn tonnes today

	web site
DECEMBER 20, 2011
Drydocks World reveals restructuring goal DRYDOCKS World said today it expects finally to complete its debt restructuring before April 2012 APL seeks tripled LA port lift capacity APL WOULD triple its lift capacity at its box terminal in Los Angeles under a port expansion scheme Carnival begins fuel hedging CARNIVAL Corp today announced profits in line with expectations and confirmed it has finally begun a fuel-hedging programme Another US LNG export plan revealed CHENIERE has confirmed plans to develop a greenfield LNG export terminal in Corpus Christi, marking the sixth US liquefaction plan to emerge G6 seen level with Maersk HAMBURG sources tied to one of the carriers in the new G6 alliance told Fairplay today the grouping would draw level with Maersk Line in Asia/Northwest Europe weekly sailing capacity Hamburg Süd switches Europe/Americas services HAMBURG Süd today unveiled a major restructuring of services linking Europe, Central America, West Coast South America and the WC North America Ghana tanker exports lift its economy TANKERS have transported 23.5M barrels of crude from Ghana's Jubilee oilfield in its first year of production, IHS World Markets Energy reported today Siem sells PSV for $34M NORWAY'S Siem Offshore said today it has sold the 2006-built platform supply ship Siem Danis for $34M COSCO, Hamburg Süd swap 8,000teu ship BROKERS told Fairplay today COSCO has relet a German-owned post-Panamax box ship to Hamburg Süd at what has been deemed a firm price Prompt cargoes push up rates for Supramaxes BROKERS told Fairplay today the rush by charterers to cover their needs before Christmas has edged rates up MOL clinches LNG deal JAPAN'S MOL said today it has been selected to transport LNG to a floating storage and regasification unit operated by Indonesian gas company PT Nusantara Regas LNG transport deal agreed CHINA Shipping Development has tied up with compatriot oil company SINOPEC Kantons in a deal to transport about 4.3M tonnes of LNG per year Safety issues found in Oz port death AUSTRALIA'S transport safety investigator has found several safety issues at Patrick's Port Botany terminal in connection with a man's grisly death last year

	web site
DECEMBER 20, 2011
Ex-Im Bank Posts Third Straight Record Year for Exports The Export-Import Bank of the United States posted its third straight record year in 2011 for financing exports from U.S.... GAO Says Ports Left $1.3 Billion in Security Grants Unused Ports spent only 23.6 percent of $1.7 billion in port security grants that the Department of Homeland Security awarded between... CSX to Start Service at APM Terminal Portsmouth CSX Transportation said it will start on-dock rail service at the Virginia Port Authority's APM Terminal in Portsmouth on Jan.... South Carolina Suspends Funding for Jasper Terminal The South Carolina State Ports Authority on Tuesday suspended funding for its joint project with the Georgia Ports Authority to... First Rail, Ocean Carriers Share Manifest Data With Customs OOCL and Canadian National Railroad this became the first two carriers of their respective industries to share their manifest data... Moody's Downgrades Hapag-Lloyd Outlook to Negative Moody's has changed its outlook for Hapag-Lloyd to "negative" from "stable" after the German carrier had a "weaker than expected... CMA CGM, MSC Relaunch North-South Americas Loop CMA CGM is relaunching its Black Pearl service between the U.S. East Coast and the west coast of South America... JFK Cargo Tumbles 9.4 Percent in October Cargo traffic at New York's Kennedy International Airport fell 9.4 percent in October, the steepest year-over-year rate of decline so... Hamburg Sud Restructures Europe-US VSAs Hamburg Sud will restructure many of the joint vessel-sharing agreements it operates with other carriers on the trade lanes from... GLP, CIC Buy Japanese Logistics Facilties for $1.6 Billion Singapore-based Global Logistic Properties and China Investment Corp. will buy 15 logistics facilities in Japan from LaSalle Investment Management for... Shipping's New World, Grand Alliances to Merge Asia-Europe Services Members of the New World and Grand alliances, moving to match the expansion of larger rivals, said Tuesday they will... Sri Lanka Port Receives its Largest Container Ship Call The Port of Colombo received a call this week from the APL Chongqing, the largest container ship to call on...

	web site
DECEMBER 20, 2011
Hamburg Sud to restructure Europe-American services and foster closer relationship with Hapag-Lloyd Hamburg Sud is to revamp its European-America's liner network and in so doing will add more capacity to/from the northern Europe-west coast South America (WCSA) ... Rena: more boxes removed as fishing ban lifted Messina takes delivery of 'Jolly Diamante' Genoa-based Messina Line, which focuses its liner services on the Mediterranean trades to/from Africa, the Red Sea and the Middle East has taken delivery of its ... Bahrain's KBSP sees past torrid year to commodities-led future The APM Terminals-managed Khalifa Bin Salman Port (KBSP) in Bahrain will grow on the back of rising aluminium, petrochemicals and Saudi Arabian trade, said Simon ... LA moves forward with port expansion plan The port of Los Angeles (LA) has taken a further step towards its planned expansion and improvement of its APL terminal after issuing an environmental report.Alongside ... GA boosts capacity on transatlantic The Grand Alliance (GA) members Hapag-Lloyd, NYK and OOCL, along with Zim and Hamburg Sud are taking advantage of the steady volumes in the transatlantic and upgrading ... GA and NWA combine forces again in Asia/Europe tradelane The Grand Alliance and New World Alliance have decided to join forces again in the tradelane between Asia and Europe. Starting in April, OOCL, Hapag-Lloyd, NYK, ... CMIT welcomes Vietnam's largest ULCS Yesterday [December 19] was a watershed day at the Vietnamese, Vung Tau Province, AMP Terminals [APM T]-managed Cai Mep International Terminal [CMIT] when it received ... G20 countries not so open for trade

	web site
DECEMBER 20, 2011
Carnival's commitment Micky Arison-led cruiseship giant poised to beef up fleet while rewarding investors with cash despite fourth-quarter dip. Sevan accepts fine Teekay-backed FPSO operator torpedoes plans to appeal findings of probe tied to delayed disclosure of "inside information". Moody's slashes HL outlook Ratings agency brands German containership giant with "negative" tag amid bleak 2012 forecast. Carnival cut by costs US-listed cruiseship owner sees costs squeeze quarterly and full year profit but says the outlook is brighter for 2012. STX PO bulker detained A shortage of soap and cracks and corrosion all contributed to the holding of South Korean vessel in the UK. Winland inks holiday COA Christmas comes early as OTC-quoted bulker owner lands $7.6m contract to transport 'hot' commodity. Danske completes Erria swap Bank takes near 20% stake in Danish tanker owner after debt for equity exchange. BW Gas in LNG tie-up Andreas Sohmen Pao-led gas shipper will develop an LNG terminal in the Dominican Republic alongside a local energy company. Price pain for container sector DVB tips boxship newbuilding and second hand values to feel the squeeze in 2012. Stopford measures the storm Clarksons guru recons blustery crude market has a way to go before it can be compared in the same breath as the 1980s depression. Diana deal no turkey New York-listed boxship owner's pre-Christmas shopping spree will deliver higher dividend next year, says RS Platou Markets. Siem cashes in PSV Oslo-listed owner disposes of spot-trading vessel with a batch of the cash used to repay debt. Drydocks to ink debt deal Khamis Juma Buamim-led shiprepair outfit is confident of sealing a refinancing package with banks by the end of March. Boxship boys in new alliance APL, HM Marine and MOL consortium gets into bed with Hapag Lloyd, NYK and OOIL syndicate. Sevan ponders options Oslo-listed rig owner wants more time on two pencilled in rigs at Cosco, report says. OSG trims payouts Morten Arntzen-led tanker owner approves double-digit reduction of chairman's retainer under crusade to cut costs.

	web site
DECEMBER 20, 2011
Tug pushing fuel barge safely under tow Ensuring the continued safety of the crew and the maritime environment in the Gulf of Alaska. Namibia 'failing to regulate offshore bunkering' Government could be 'losing millions of dollars in revenue.' Increasing energy efficiency in offshore shipping Acknowledging that synergies between energy efficiency and environmental impact will be a competitive advantage for the partners. European bunker prices climbing Piraeus 'very busy'. Fujairah market firming on Tuesday IFO and MGO prices climb. On-spec material expected in East Asia in January Fuel oil arbitrage volumes could come in at three-month high. Anti-whaling group faces tax bill for bunker fuel Sea Shepherd says Australian government is being 'passive aggressive.' BAF calculation to 'reflect slow-steaming' Maersk Line says new Standard Bunker Adjustment Factor will be more transparent. Bunker prices largely firm at key Asian ports Supplies mostly tight on Tuesday. Singapore MGO, IFO supplies tight MGO supply shortage 'worst for the year', says local player. 'Significant' safety challenges may arise from Turkish sulphur ruling New regulation will require vessels to use 0.10% sulphur fuel when calling at Turkish ports from January 1, 2012. Tanker flat rate in 2012 to rise on higher bunker costs Sample of benchmark trades shows average Worldscale flat rate for 2012 some 20% higher than in 2011. US Coast Guard to investigate use of biodiesel fuel Cooperative research and development agreement proposed with Cummins Inc. Maersk Oil Trading manager joins Chemoil Nielsen will identify and develop global strategic sourcing arrangements, says Chemoil.