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Storm threat holds up Aussie iron ore exports
A cyclone bearing down on Western Australia yesterday has left iron ore shipments from the world's top exporter at a near standstill as ports shut ahead of the storm.
Frontline chalks up bigger-than-expected Q4 loss
Frontline Ltd, the world's biggest supertanker operator, may return to profit this quarter after its biggest loss since 2002 as oil demand from China curbs a glut of vessels that sent freight costs to a 13-month low.
Baltic Exchange index falls for first time in 2 weeks
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell on Monday for the first time in two weeks as cargo activity slowed and vessel availability increased.

Strait Talk

Indian Ocean turning into Wild West
IT is only a month or so since piracy last featured in this column, but since then what was already an incredibly bad situation has got evenÂ' worse. A seafarer on board the multi-purpose ship Beluga Domination was murdered in cold blood by gang members in retaliation for the death of one of them after an unsuccessful rescue attempt by the Seychelles Coast Guard. Two other crew members are missing following the same incident, presumed dead.

Shipping Times

China rail sector offers growth opportunities
Europe's fifth-biggest fund manager, DWS, sees China's rail sector as offering major growth opportunities for investors within the infrastructure sector, a manager of its infrastructure-themed fund said.
31 convicted over Indian train blaze in 2002
An Indian court yesterday convicted 31 people on conspiracy and murder charges over a deadly train fire in 2002 that triggered anti-Muslim rioting in which 2,000 people were killed.

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Shipping News

Storm threat holds up Aussie iron ore exports
A cyclone bearing down on Western Australia yesterday has left iron ore shipments from the world's top exporter at a near standstill as ports shut ahead of the storm.
Frontline chalks up bigger-than-expected Q4 loss
Frontline Ltd, the world's biggest supertanker operator, may return to profit this quarter after its biggest loss since 2002 as oil demand from China curbs a glut of vessels that sent freight costs to a 13-month low.
Baltic Exchange index falls for first time in 2 weeks
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell on Monday for the first time in two weeks as cargo activity slowed and vessel availability increased.

Strait Talk

Indian Ocean turning into Wild West
IT is only a month or so since piracy last featured in this column, but since then what was already an incredibly bad situation has got evenÂ' worse. A seafarer on board the multi-purpose ship Beluga Domination was murdered in cold blood by gang members in retaliation for the death of one of them after an unsuccessful rescue attempt by the Seychelles Coast Guard. Two other crew members are missing following the same incident, presumed dead.

Shipping Times

China rail sector offers growth opportunities
Europe's fifth-biggest fund manager, DWS, sees China's rail sector as offering major growth opportunities for investors within the infrastructure sector, a manager of its infrastructure-themed fund said.
31 convicted over Indian train blaze in 2002
An Indian court yesterday convicted 31 people on conspiracy and murder charges over a deadly train fire in 2002 that triggered anti-Muslim rioting in which 2,000 people were killed.

web site

Shipping News

Storm threat holds up Aussie iron ore exports
A cyclone bearing down on Western Australia yesterday has left iron ore shipments from the world's top exporter at a near standstill as ports shut ahead of the storm.
Frontline chalks up bigger-than-expected Q4 loss
Frontline Ltd, the world's biggest supertanker operator, may return to profit this quarter after its biggest loss since 2002 as oil demand from China curbs a glut of vessels that sent freight costs to a 13-month low.
Baltic Exchange index falls for first time in 2 weeks
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell on Monday for the first time in two weeks as cargo activity slowed and vessel availability increased.

Strait Talk

Indian Ocean turning into Wild West
IT is only a month or so since piracy last featured in this column, but since then what was already an incredibly bad situation has got evenÂ' worse. A seafarer on board the multi-purpose ship Beluga Domination was murdered in cold blood by gang members in retaliation for the death of one of them after an unsuccessful rescue attempt by the Seychelles Coast Guard. Two other crew members are missing following the same incident, presumed dead.

Shipping Times

China rail sector offers growth opportunities
Europe's fifth-biggest fund manager, DWS, sees China's rail sector as offering major growth opportunities for investors within the infrastructure sector, a manager of its infrastructure-themed fund said.
31 convicted over Indian train blaze in 2002
An Indian court yesterday convicted 31 people on conspiracy and murder charges over a deadly train fire in 2002 that triggered anti-Muslim rioting in which 2,000 people were killed.

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CKYH to drop Panama for Suez in new Asia-USEC AWE-6 loop CSAV-CSCL to offer Far East-USEC loop via Panama March 21 Cosco and Hanjin to launch Far East-USWC loop in May Maersk orders ten 18,000-TEU ships expects to buy another 20 South African trucks back on the road as strike ends Singapore wins Maersk drilling orders for jack-up rigs Kerry Logistics buys Hong Kong school meal catering firm Rotterdam port induced to cut emissions to avoid eco-lawsuit Damco to transport potash exports from Jordan Hong Kong to hold Air Freight Asia Expo March 8-10 Atlas Air expects best to come as 2010 profits rise 102pc ESC tells shippers be more active in handling air cargo services

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Tulsidas Khimji implements Logi-Sys for international logistics Freight forwarders seek value before accepting e-freight Railways' stringent new PPP norms could drive away investors FDI inflows dip 22 pc to $ 21 bn in '10 Rangarajan panel projects 9 pc growth ahead, advocates stimulus withdrawal, GST rollout FM stresses on tax info pact at G20 meet JNPT Chairman inaugurates KMA's management week celebrations Two-way ticket to excellence

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FEBRUARY 22, 2011
Damco office in port of Le Havre fully operational Damco's new office in the port of Le Havre (France) has given the company a good chance of competing against other forwarders in the area. The Le Havre branch is Damco's third one ... Ferrovial concludes sale of Swissport to PAI Partners The sale by the Spanish enterprise Ferrovial of Swissport to the French private equity firm PAI Partners, originally announced on 2 November 2010, was formally concluded on schedul... Gist signs five-year contract with meat producer Tulip The enterprise Tulip, a British supplier of quality pork, bacon, sausage and cooked meat products to the retail and wholesale sectors, has awarded a contract to the British logisti... Yangtze River Express with first Qingdao intercontinental cargo link The Yangtze River Express Airline, a cargo carrier based at Shanghai's Hongqiao international airport, launched a thrice-weekly Shanghai Pudong-Qingdao-Los Angeles-Shanghai service... Itella reports difficult year Finland's Itella Group has reported that 2010 was a difficult year for the company. Net sales for the year totalled EUR 1.84 billion, registering an increase of 1.2% from the previ... Swiss forwarder Laible now AEO certified The Schaffhausen-based Swiss freight forwarder Laible was recently certified as an authorised economic operator by the Swiss customs authorities. Laible fulfilled all the necessary... Manila airport to issue tender for new international cargo terminal The Filipino government is set to issue a tender for the construction an international cargo terminal at Ninoy Aquino international airport, one of two airports serving greater Man... Ferrovia della Stato authorised to take over Arriva Germany The Italian state railway Ferrovia della Stato (FS) and the investment fund Cube have been given permission to take over Arriva Germany by the EU Commission. (ben) Major Volvo trucks order in Brazil Volvo do Brasil has signed a sales agreement for 233 trucks with Reiter Log, a logistics operator based in Porto Alegre, Brazil. Reiter Log will acquire 183 Volvo VM and 50 Volvo F... Norfolk Southern increases railway operating revenue Norfolk Southern's Q4/2010 results show that the company benefited from a USD 34 million change in estimate, affecting deferred income taxes. Net income for 2010 was USD 1.5 billio... Ceva launches cross-border roadfreight solution in Asia Ceva Logistics has launched a cross-border roadfreight solution in Southeast Asia, providing an integrated and cost-effective solution for customers. Ceva now offers a rapid seamle... Better national roads in Romania The Austrian construction company Strabag has signed contracts worth EUR 106 million to renew national roads DN14 and DN15A in Romania. The project encompasses broadening and exten... UK: new Felixstowe box terminal gearing up for operations The port of Felixstowe (UK) has begun tests at a new deepwater container terminal (berths 8 and 9). The "CSCL Star", the first of five new ultra-large containerships... "CSCL Star" first of eight megaships to sail for CSCL The 14,100 teu "CSCL Star" is the first in a series of eight ultra-large container ships (ULCS) being built for China Shipping Container Lines in the South Korean Samsung... Maersk Line orders largest and most efficient containerships Maersk Line has signed a contract with South Korea's Daewoo Shipbuilding and Marine Engineering Company to build ten of the world's largest and most efficient vessels, with an opti...

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FEBRUARY 22, 2011
Cohen to keynote Marine Log's Offshore Alternatives 2011 Somali pirates murder four American hostages held on S/V Quest Maritime Cabotage Task Force now American Maritime Partnership

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FEBRUARY 22, 2011
Port Metro Vancouver joining CP in new collaboration agreement BNSF Railway spending $3.5 billion on capital program Hamburg Sud christens new 7,100 teu container ship Maersk Line eyes orders for up to 30 new container ships Carriers plan to offer new Asia/South American run

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FEBRUARY 22, 2011
VLCCs next to turn to super-slow steaming to cut costs Maersk identifies savings of $22,000 daily on ballast leg of voyage Capesize rates down as iron ore ports struck by cyclone Brokers report collapse in Chinese market as storms prevent tonnage from leaving Australia Diana avoids Korea Line charters Dry bulk owner Diana Shipping published a full list of charterers of its fleet of 23 vessels along with its fourth quarter results today, as more companies were identified as having ships exposed to a South Korean shipping operator in receivership Aframax rates to fall if Libyan crude exports disrupted Reports of disruption to oil production in Libya may have pushed up oil prices, but aframax brokers left manning the fort during traditionally slack International Petroleum Week were resolutely refusing to panic Demand for soy-oil sees exports rise by 38% Soybean-oil exports jumped to a record in the October-January period as shipments of rival palm oil decreased US aware of Gaddafi ship interests Libya's home-based shipping industry effectively under the sway of Gaddafi family, leaked cables reveal Container shipping halted at Libyan ports Domestic turmoil in Libya has rendered the country's box ports too dangerous for commercial shipping to call at Oil exports hit by Libya uprisings Southern Europe most vulnerable to prolonged disruption in supplies Port operations continuing despite political unrest Any disruption at Libya's ports is likely to have a negative impact on aframaxes rates Maersk bullish on Asia-Europe prospects Transhipment will lessen impact of 18,000 teu ships on trade route Save the seafarer: why you need to fight piracy A delegation from the Mission to Seafarers travelled to Mombasa earlier this month to find out how seafarers were coping on the front line of the battle against piracy Turmoil in Libya could drive up oil prices further Fears that the political problems could spread and hit output throughout the Middle East is pushing prices higher Reefership fightback starts here Container lines, with their sophisticated modern reefer boxes, claim reefership operators are past their sell-by date Reasons to lose sleep Any disruption to oil production in Saudi Arabia would have profound implications for the global economy and trade as well as the tanker market Stahlmann quits post at MAN Diesel & Turbo Chief executive stands down as prosecutor's office in Munich confirms it is investigating charges of bribery against him Somali pirates kill US hostages Four US citizens on hijacked yacht killed while US military captures pirates Star Bulk reveals Korea Line exposure Says Asian operator owes $1.1m Frontline upbeat on VLCC market outlook Posts net profit of $161.4m for 2010 Currency loss hits d'Amico 2010 results Posts 2010 net loss of $20.5m but tanker operator upbeat on long term outlook Giant boxships may recast other routes too Big ships, like those on order for Maersk, will impact on other trades, say analysts Dark clouds mass around P&I sector's silver lining Clubs have reported record levels of free reserves and investment returns look healthy, but the outlook is not bright for everyone The Standard tops off a busy year with breakeven result on underwriting Marine mutual's entered tonnage for 2010-2011 was up by around 9% over the previous policy year Arrival of the 18,000 teu giants is set to create a huge risk The prospect of up to 20 of the huge boxships up for insurance in the next 10 years has done little to comfort the marine market Ruling clarifies perils of the sea and inherent vice The controversial 2004 Mayban judgment has been rejected in a ruling that makes a significant clarification of the law Disturbing programmes EU's funding of Motorways of the Seas projects appears to be a case of giving with one hand and then taking a lot more with the other Bulker orders propel Cosco Corp profit Net profit for 2010 more than doubles to $195m on back of 31 bulk carrier orders Lyttelton port closed after earthquake Inchcape Shipping Services says extent of damage to the facility is unknown Charter cover helps buoy Diana Dry bulk owner posts 17% rise in fourth quarter net profit to $32.3m Kirby unveils $270m United Holdings buy Purchase of engine distributor dictated by recovery in shale gas in US

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FEBRUARY 22, 2011
BDI's new trend is down THE BDI'S down trend solidified today after yesterday's halt to a 10-day rally, according to figures published by the Baltic Exchange Diana poised for bulker buys CASH-RICH Diana Shipping today predicted that "extremely challenging" drybulk market conditions will facilitate its acquisition plans this year Fog closes Houston channel ABOUT 60 ships are waiting to enter or leave the Houston ship channel, which remains closed due to fog, Fairplay was told today Independent Tankers warns on VLCCs INDEPENDENT Tankers has warned that uncertainty surrounding two VLCCs could affect its future financial results Euroseas forecasts box upside NASDAQ-listed Euroseas today predicted that pending charter renewals for its container fleet should buoy rates in 2011 after a "difficult" 2010 NZ quake causes 'utter devastation' THE NEW Zealand South Island port of Lyttelton is believed to have sustained significant damage today after being hit by a second major earthquake in six months Russia scrutinises BP drilling plan RUSSIA'S plan could be under threat to link government-owned oil producer Rosneft with BP in a multibillion-dollar joint venture to seek oil in the Kara Sea German forwarders acquire companies GERMAN freight-forwarding group Dachser & Geis is adding new cargo flows through strategic acquisitions in Central Europe and South Africa Grieg unit taken over NORWAY's shipping and maritime services group Grieg has sold its freight-forwarding unit to Panalpina of Switzerland Yangzijiang's profits rise YANGZIJIANG, one of China's biggest privately owned shipyards, said today its 4Q2010 gross profits jumped 27% year on year to 856.7M yuan ($130.2M) Frontline falls after posting losses SHARES in tanker owner Frontline dropped in Oslo this morning after the company reported that it had sunk to losses in the fourth quarter EC to spend most on Baltic shortsea plans THREE Baltic schemes will be getting most of nearly €85M ($115.3M) that the EC has allocated for European shortsea projects Brokers see Handysize spot demand rise BROKERS in Singapore told Fairplay today Handysize owners are going for spot bookings rather than period charters this month Hoe Leong profits jump 120% SINGAPORE tanker owner and offshore shipping company Hoe Leong has said its FY2010 net profits were S$11.86M ($9.29M), up 120% year on year Weak box rates defied BROKERS in Shanghai told Fairplay today long-haul box rates from China are dropping, but the trend has not stopped liners from starting new services

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FEBRUARY 22, 2011
CSX Opens New Ohio Intermodal Hub CSX Transportation began operating the big new intermodal terminal it built at North Baltimore, Ohio, near Toledo, which will be... Crude Oil Surges on Middle East Unrest, Diesel Edges Up Political turmoil in the Middle East threatened world supplies of oil and pushed the price of crude oil up 6... Chairman of $1.8 Billion Werner Enterprises to Retire Clarence L. Werner, the founder of Werner Enterprises, is stepping down as chairman of the $1.8 billion trucking company. Werner,... Hamburg Sud Christens Large Container Ship German ocean carrier Hamburg Sud on Monday christened the Santa Isabel, the second of 10 sister ships, each with a... Norfolk Southern Orders 1,500 Coal Cars Norfolk Southern Railway is ordering 1,500 high-capacity coal hauling railcars from FreightCar America, in an order valued at more than... US Rail Lines Cut Jobs in January The seven major freight railroads reduced employment on their U.S. lines by 1,096 workers from mid-December to mid-January, the second... Logistics Real Estate Demand Swings Up The decline in vacancy rates for logistics real estate will accelerate this year as resurgent demand outstrips slow growth in... Expeditors Fourth Quarter Profit Soars 40 Percent Expeditors International of Washington boosted its net profit 40 percent in the fourth quarter to $96.5 million, capping a strong... New Zealand Quake Shuts Lyttelton Port New Zealand's Lyttelton port closed after a 6.4 magnitude earthquake hit Christchurch, the nation's second largest city. The port,... Vancouver, Canadian Pacific Agree on Performance Plan Port Metro Vancouver and Canadian Pacific Railway unveiled a "collaboration agreement" they say should improve productivity and reliability in moving... Hapag-Lloyd Eyes IPO Hapag-Lloyd is aiming for an initial public offering in Frankfurt in mid-April with a target valuation of the company close... Consumer Confidence Hits Three-Year High Consumer confidence hit a three-year high in February despite continuing concern about jobs, a business research group said. The... FMCSA's Ferro on Regulatory Trucking Safety Initiatives FMCSA Administrator Anne Ferro discusses three significant motor carrier safety initiatives. JOC safety coverage: FMCSA's Ferro Defines Broad Safety... CMA CGM Gets Into the People Cargo Business CMA CGM is handling a new cargo on its giant container ships'people. The world's third-largest container line said Tuesday... FMCSA's Ferro Defines Broad Safety Strategy The Federal Motor Carrier Safety Administration is pursuing a three-pronged strategy to truck safety as it tries to drive truck... Managers Plan Buyout of Trucking's US 1 The top management of U.S. 1 Industries plans to acquire the trucking operator, spending about $10 million to buy out... BAA Narrows Loss, Cargo Revives BAA, the owner of London's Heathrow and Stansted airports, sharply narrowed 2010 losses from the previous year as cargo surged. ... Hamburg Sud, CCNI Connect Vancouver-Le Havre Hamburg Sud and Chilean ocean carrier CCNI started direct service between the West Coast of North America and Le Havre... Panalpina Buys Norwegian Logistics Company Panalpina acquired Norway's Greig Logistics to broaden its coverage of the North Sea oil and gas sector. The Swiss... CSAV, China Shipping Add All-Water Route CSAV and China Shipping plan to add a shared all-water service linking Asia and the U.S. East Coast via the... Ship Lines Face Overcapacity, SeaAxis Reports Container shipping lines remain threatened by overcapacity that will peak soon before diminishing later this year as trade volume rises,... Port Tracker Forecasts Slowing Europe Volume Container volume at all European ports will grow at moderate rates this year, though slower than in 2010, according to..

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FEBRUARY 22, 2011
Carriers back in the black, but for how much longer? Maersk's Triple-E class not so cool Mystery of Eimskip boxship grounding US yacht seized by pirates CKYH to overhaul Transpac and Far East/Europe services

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FEBRUARY 22, 2011
Diana plots expansion Greek bulker owner inspects 25 ships as it launches quest to acquire tonnage on the heels of profitable fourth quarter, CFO says. ADR eyes US 'ghost fleet' Allied Defense Recycling sets up shop on US West Coast as MarAd steps up pace of scrapping scheme. Green Reefers in recycling loss Oslo-listed shipowner loses out in recycling deal tied to elderly reefer in need of "major upgrades". GC fixes Polar King Oslo-listed offshore owner seals time charter for construction-support newbuilding on order in Spain. Quest killings up the ante Killing of four American yacht crew in botched rescue attempt could force wider US response. FRO's price prediction CEO Jens Martin Jensen tips modern asset values to hold up and suggests supply and demand imbalance will not be so bad. Pemex calls on Cal Dive US subsea contractor poised to pocket $24m as state-controlled energy giant sinks its teeth into Gulf of Mexico gig. Star stuck in KLC saga Greek bulker owner's new CEO vows to "vigorously pursue" $1.1m worth of charter payments racked up by Korea Line Corp. WSF sell duo 1989-built Skagit and Kalama off for new life in Tanzania as US owner gets rid. Libya turns off tap Oil terminals and other ports shut down as violence and unrest spread on Tuesday. Pirates shoot US crew dead Pirates kill bible-delivering American crew of yacht hijacked in Indian Ocean last week, US Navy role unclear. Concordia sees weakness Hans Noren-led Swedish tanker owner says markets to remain low this year but improvement coming as it returns to black. Tina refloated off Germany Small cargoship pulled off beach at high tide on North Sea island of Juist. Twisted again Rhein Maas's RMS Twisteden damaged in German collision six months after wheelhouse crushed hitting bridge. Frontline slumps to a loss Fredriksen-controlled tanker giant slides into the red in the fourth quarter on weaker rate environment.

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FEBRUARY 22, 2011
Damco opens Le Havre office Damco, the logistics and freight forwarding division of the A.P. Moller - Maersk Group, has opened a new office in the Port of Le Havre in France. The new office is Damco's third office in France aside from its main branch in Lezennes and Dunkirk.... Panalpina buys Norwegian logistics company International logistics and freight forwarding company Panalpina said Tuesday it has acquired Norwegian logistics company Grieg Logistics for an undisclosed sum, subject to approval from Norwegian competition authorities. Grieg Logistics was estab... Great Lakes iron ore shipments up sharply The Lake Carriers' Association said iron ore shipments on the Great Lakes totaled 3 million net tons in January, a 60 percent increase compared to a year ago. Loadings were also 20 percent ahead of the month's five-year average. The association sai... Halifax airport to extend runway Canada''s federal government and the province of Nova Scotia said Monday they would invest $14 million to extend the main runway at Halifax Stanfield International Airport from 8,800 to 10,500 feet. The longer length will allow the airport to handl... CSAV says volumes continue to grow Chilean container shipping company CSAV said its January container volume was 295,600 TEUs compared to 189,100 in January 2010, and the company's highest monthly in three years. However, freight rates fell. Using an index that pegs average contain... Hamburg Sud takes delivery of 7,100-TEU ship Liner carrier Hamburg Sud said Tuesday it has received the second of 10 7,100-TEU vessels from South Korea's Daewoo Shipbuilding & Marine Engineering Co. TheSanta Isabelwill go into service on Hamburg Sud's New Good Hope Express loop connecting As... Europe container traffic sees moderate growth Import and export deep sea container volumes this year across Europe are expected to rise, albeit more slowly than in 2010, said the latest issue ofGlobal Port Tracker: North Europe Trade Outlook.The report was released Monday by Hackett Associate... U.S. budget 'a mixed bag' for ports The American Association of Port Authorities is calling President Obama''s proposed fiscal 2012 budget a "mixed bag" for the nation''s seaports, applauding plans for a national infrastructure bank that could fund road and rail projects in ports, b... CMA CGM offering cargo cruises CMA CGM is offering vacationers the ability to ride on their containerships, including its new 13,800-TEU behemoths.CMA CGM Christophe Colomb Photos ' Thierry Dosogne The French carrier said it had 690 passengers take cruises on its containerships ... March Cover Story

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FEBRUARY 22, 2011
Concordia logs SEK 80 million profit Swedish Concordia Maritime reports a SEK 80 million result after tax in 2010, compared to a SEK -81 million loss in the previous year. The net turnover is SEK 513 NordöLink and FinnLink to swop vessels Finnlines rearranges its tonnage on its ferry routes between Sweden and Germany and Sweden and Finland. After two years on the NordöLink service between Malm' and Travem'nde the ro-pax Maersk Line orders largest vessels ever It's now official that Maersk Line has placed an order of ten 18,000 TEU container vessels at Daewoo Shipbuilding & Marine Engineering for delivery 2013'2015. The vessels, Triple'E class Laid up coaster sold to Norway The laid up coaster Dantic has been sold to a Norwegian buyer and is now underway to Kopervik in tow by the Danish tug Vitus. Dantic, which has been laid

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FEBRUARY 22, 2011
Dubai supports emission trading programme UAESA 'fostering a better understanding of the maritime sector efforts to minimise the industry's environmental footprint.' Fujairah market firms The bunker market is tight for prompt avails in Fujairah. Prices up by double-digits in key ports Bunker prices rise on the back of crude oil futures, which hit two-and-a-half-year highs. Expansion of Gibraltar's bunkering area still being assessed 'Stringent measures' would be put in place to address environmental concerns, port official tells Bunkerworld. Industry shake-out reveals winners and losers Bunker industry 'that has embraced excellence and best practices' will emerge from crisis, says WFS CEO Paul Stebbins. Eniram releases study into improving vessel efficiency 136 day study onboard 5,500 TEU container vessel identifies up to 6.8% fuel savings potential and $160,000 reduction in bunker costs. Bunker prices surge at key ports Demand for bunkers generally low at major Asian ports on Tuesday. Singapore ship chandlers and bunkering trade down in Q4 The sector registers marginal decreases in both domestic and foreign wholesale trade. US barge operator ups projected earnings on acquisitions Raises 2011 net earnings by up to $0.25 per share following the acquisitions of United Holdings and Enterprise. Fuel saving system to harness solar, wind power System will transform vessels into 'part solar ships and part sailing ships', says Japanese technology firm. Indian refiner sells 380 cSt parcel at lower premiums In line with improving supplies in Asia as Western inflows improve.