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Shipping News

UK's shipping revenue seen way above '1b estimate
THE financial contribution of maritime services to the United Kingdom's economy vastly exceeds researchers' estimates of 1 billion a year in foreign earnings, with a booming US$30 billion freight derivatives market and high ocean freight rates.
Shipowners call to intensify fight against piracy
SWIFTER, stronger and more effective action by the littoral states in fighting piracy in the Malacca and Singapore Straits was called for by the Federation of Asean Shipowners' Associations during its annual meeting here last week.
India to spend US$17b on infrastructure
INDIA's government plans to spend at least US$17 billion to upgrade roads, airports and ports by 2010, in an effort to make it easier for exporters to do business in Asia's fourth-biggest economy.
NOL sells stake in Philippine inter-island cargo operator

Port Shots

US$155m tanker loan to Oman, Mitsui
THE Omani government and Mitsui OSK Lines Ltd, Japan's second-largest shipping company, have received a US$155 million loan to finance the purchase of a liquefied natural gas tanker.

web site

Shipping News

UK's shipping revenue seen way above '1b estimate
THE financial contribution of maritime services to the United Kingdom's economy vastly exceeds researchers' estimates of 1 billion a year in foreign earnings, with a booming US$30 billion freight derivatives market and high ocean freight rates.
Shipowners call to intensify fight against piracy
SWIFTER, stronger and more effective action by the littoral states in fighting piracy in the Malacca and Singapore Straits was called for by the Federation of Asean Shipowners' Associations during its annual meeting here last week.
India to spend US$17b on infrastructure
INDIA's government plans to spend at least US$17 billion to upgrade roads, airports and ports by 2010, in an effort to make it easier for exporters to do business in Asia's fourth-biggest economy.
NOL sells stake in Philippine inter-island cargo operator

Port Shots

US$155m tanker loan to Oman, Mitsui
THE Omani government and Mitsui OSK Lines Ltd, Japan's second-largest shipping company, have received a US$155 million loan to finance the purchase of a liquefied natural gas tanker.

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Ningbo Port to undergo massive expansion Swiss forwarding group obtains mainland Class A licence Port of Darwin hosts first vessel from Shanghai BAX Global wins contract from Samsung Electronics IMO to stage 2005 security conference in Jakarta Cargo volumes rise at Indian ports 22 outfits in the run for first Dubai awards Guangzhou challenges Hong Kong over hub alliances Future looks rosy for Asia Pacific airlines Lufthansa moves to strengthen market position in China US Airways flight attendants threaten strike

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China Shipping joins Sundex service Hamburg-Sud changes service due to US WC congestion AP Moller places order with Samsung for 2 LNG tankers Newbuilding for Safmarine named ANZDL wins Lloyd's Customer Service Award for 8th time in 9 years AADA raises bunker surcharge Tianjin port to be in top-10 MSC approved by Port of Marseilles Tianjin to Beijing in 30 minutes by 2007 Labour cost for shipbuilding lowest in India: Study Port Chairmen told to draw up major expansion plans, says Baalu MoS offers 'compromise formula' to ship LNG to Hazira LNG companies' plea to bring in tankers on CIF basis rejected Essar makes fresh bid for Shell LNG shipping deal $ 12-bn engg export target achievable: Official Dumping duty on slabstock polyol imports mooted Govt may allow export of 3 m tonnes of wheat Spices importers want Indian warehouses in US Garment exports to quota countries notch up double-digit figures in April-October Ennore Port to develop container, LNG, ore terminals'Baalu Port workers' bonus talks today Hike in rail freight rates to push up steel prices Air cargo traffic registers 20.5 pc growth during H1 Cabinet nod for ISPS code implementation Forex reserves crossed the $ 123-billion mark 'Alternative Dispute Resolution' centres in all districts of state planned Kamal Nath calls EPCs meet to explore DEPB options Adhere to 'manufacturing' as defined in NFTP, Commerce Ministry urges MoF Infrastructure sector records marginal growth Onkar S. Kanwar elected Ficci chief

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NOVEMBER 29, 2004
600,000 mt Oman fuel oil tender extended Titan mulling land-based Singapore terminal Bunker and cargo trader in discussions with Singapore authorities over land-based fuel oil storage that would put group in the league of independent storage operators Tankstore and Oiltanking. Engine manufacturers targeting emission reductions Major manufacturers of marine engines say that environmental issues are a key driver behind development work, with some hailing dual-fuel engines as the way forward on emission reductions. \| In Full \| Oil market players bearish for week ahead Bearish forecast outweighed today by temporary loss of North Sea production. IFO spread opens with return of Suez avails Demand has yet to respond to improved demand in Egyptian ports. Oil export backlog forming at Russian ports Several thousand metric tones of oil and oil products stuck on rail cars going to key Russian export ports. Rotterdam prices easing Monday December squeeze expected for Singapore bunker market Exceptionally low flow of fuel oil cargoes into Singapore anticipated to keep bunker market tight through till January, when more cargoes are expected.

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NOVEMBER 29, 2004
Euro Telematik launches ServiceFleet version 3.0 Polish PKP Cargo on the path to privatisation TPG and unions agree new collective labour agreement in Netherlands RailCombi turns into CargoNet Swiss WorldCargo reduces fuel surcharge Germanischer Lloyd expects 12,000 teu vessels in 2006 Tarantini to play frontline role in SAA Cargo growth plans

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NOVEMBER 29, 2004
LM2500 slected for WMSL CODAG system Gash found in spill tanker hull

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NOVEMBER 29, 2004
Oregon governor taps Allen as new Port of Portland Commissioner Portland Airport now offers free Wi-Fi connections Cascade Shipping founder, Edmund Ellis dies at 98 Union Pacific cuts deal with CN over new routes Moody's upgrades NYK from Baa2 to A3

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NOVEMBER 29, 2004
Athos spill: river traffic underway VESSEL traffic is resuming today on the lower Delaware River on a "ship by ship" basis as environmental teams continue clean-up efforts after the Athos I spill CalMac considers agency seafarers SCOTTISH state-owned ferry operator CalMac is considering the use of agency seafarers in its bid for the 26 routes offered by the Scottish Executive next year Another Irish Sea victim ENOC bunkering moves to Jebel Ali Russian rail claims 'misleading' OMI looks forward to $100M quarter IHC Caland yard sale next month Poor third quarter for Golar LNG No sign of cruise man overboard China invests in rail freight links SembCorp loses Solitaire appeal ASEAN owners 'must stand together'

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NOVEMBER 29, 2004
Bush taps Kellogg CEO for Commerce Cuban-born chief executive of cereal giant is second Hispanic selection for second-term Cabinet. PSA to buy CSX port assets: Report Singapore operator seen as likely buyer for CSX World Terminals' Hong Kong port assets. WTO backs South Korea over shipyard aid Oil spill hampers Phil. vessels FIT wins auction for Port Everglades hub Seattle approves $954 million budget DHL founder pleads ignorance in sworn testimony Judge blocks creditors from seizing United jets DHL exec says ASEAN needs more trade unity Lines to hike India westbound rates Moller's APM gets 'crossroads' box hub South Korea, Singapore near free-trade deal

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NOVEMBER 29, 2004
Beijing limits scope of HK, Zhuhai Macau Bridge connections The bridge linking Hong Kong, Macau and Zhuhai in the Pearl River Delta (PRD) will neither have a landing point in Shenzhen, nor will it include a rail line. China sets out 45-year rail freight development plan Reformed Russian Customs smoothes cargo flow Efficient use of space to raise Hamburg capacity HK companies invest in Ningbo Port expansion Diving dollar may float Australia-Euro trade Koper and ECL seduce Egyptian produce exporters ANZESC raise Japan/Australia freight rates

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NOVEMBER 29, 2004
Tanker lightering to begin Holed Tsakos panamax is righted as preparations begin to reopen Delaware River after spill. OMI placing $200m in bonds 20-year convertible notes will be used to repay existing debt. Norden continues record run Danish shipowner raises profit forecast as crystal ball points to better than expected dry bulk and tanker result. Petra Perdana snaps up yard Malaysian group buys in-house service for offshore fleet at YCK in Sarawak. LNG carrier refinanced Khaled Al-Fayez-led Gulf International Bank has arranged a $155m loan on the ex-Lakshmi. Expiry terms for Japan Club Shipowner directors of Tokyo based P&I club confirm there will be no increase at February renewal. Aframax resale confirmed Tsakos Energy Navigation (TEN) has made a move back towards its roots with a special-design aframax. Bharati plumps for Pinky Indian yard buying facility in Goa as it lines up new base and investment through IPO. Samudera stays strong Singapore-listed boxship player piles on profit in third quarter as fleet grows. Korea Line hits Golar John Fredriksen's LNG venture suffers from Asian investment adventure and derivatives loss. Kvaerner Philly breaks even US yard holding its own, but still awaits buyers for two boxships it is building. Nepline nails Nautica Maur Malaysian owner begins fleet expansion with deal for Singapore products tanker. HUBLine doubles its money Improved freight rates and liftings help Malaysian intra-Asian operator to bumper financial year. OMI eyes $100m quarter Red-hot tanker rates prompt issue of earnings guidance as fourth quarter profits are set to skyrocket. Suez sees jump in revenue Income generated from vessel transits of strategic Middle East waterway sees year-on-year jump of 12%. DOF builds and charters New supply ship to be ordered on back of five-year deal with Peterson Supplylink. Weather hits BBC China blast Heavy swells and high seas are delaying efforts to complete demolition wreckage of cargo ship. Hyundai Corp inks Lingshan stake South Korean trading house is to take majority control of Chinese shipbuilder in effort to diversify. Fire strikes Virginian Royal Navy frigate goes to aid of Van Ommeren Shipping's heavy lift vessel in Arabian Gulf.

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NOVEMBER 29, 2004
China wants closer scrutiny of liner alliances, conferences Asia/Europe carriers lower bunker charge Tanker market boom propels OMI's results Air France-KLM report strong 2nd quarter results China Southern appoints Israeli cargo agent Kotaite re-elected ICAO president CN-UP interchange agreement to reduce traffic at Chicago U.S. freight system "quickly becoming saturated" Alstom picks Exel for logistics Coast Guard probes cause of oil spill at port of Philadelphia Work starts on rail loop at Fremantle port

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NOVEMBER 29, 2004
Viken Shipping sells six product tankers Viken Shipping in Bergen has sold six product tankers to Tanker Pacific for just below USD 145.0 million with charter ... Better third quarter for DFDS Group DFDS Group had a healthy third quarter with increased profit, fewer passengers and more goods. The revenue was up 10 ... National Oilwell sells TTS Marine shares Norwegian based fund managers have bought National Oilwell's 35.61 per cent (5.8 million shares) of TTS Marine in Bergen at ...