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Shipping News

Maersk to buy into Shanghai port's new terminal
DANISH shipping giant AP Moeller-Maersk will take a share of the second phase of a US$12 billion port in Shanghai, a senior executive said yesterday, as it bets on the longevity of China's shipping boom.
China Ocean Shipping expanding fleet
CHINA Ocean Shipping Co, the country's biggest shipping company, said it will buy twice as many oil tankers and container vessels to carry materials and meet a government goal of doubling economic output by 2010.
TUI gets S&P, Moody's ratings with a chance of upgrading
GERMAN tourism and container shipping group TUI has gained credit ratings from Standard & Poor's and Moody's Investors Service that reduced the cost of insuring against a default by the company, traders said.
China, Taiwan, HK may boost box traffic

Strait Talk

Looks like back to the future
THE signs of a downturn in the container shipping market have been there for all to see for some time.

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Shipping News

Maersk to buy into Shanghai port's new terminal
DANISH shipping giant AP Moeller-Maersk will take a share of the second phase of a US$12 billion port in Shanghai, a senior executive said yesterday, as it bets on the longevity of China's shipping boom.
China Ocean Shipping expanding fleet
CHINA Ocean Shipping Co, the country's biggest shipping company, said it will buy twice as many oil tankers and container vessels to carry materials and meet a government goal of doubling economic output by 2010.
TUI gets S&P, Moody's ratings with a chance of upgrading
GERMAN tourism and container shipping group TUI has gained credit ratings from Standard & Poor's and Moody's Investors Service that reduced the cost of insuring against a default by the company, traders said.
China, Taiwan, HK may boost box traffic

Strait Talk

Looks like back to the future
THE signs of a downturn in the container shipping market have been there for all to see for some time.

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Port giants jostle for position in P&O takeover battle Intermodal freight service to E Europe launched from Shandong Jiangxi attracts more logistics companies Aeroceanetwork fights backlog at Australian ports Sinotrans launches new Manila service FEFC to leave BAF as is Fuel costs drive Singapore Airlines profit down Korean Air, Emirates offer joint service on Dubai-Seoul route Continental Airlines offers US-India non-stop service

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NOVEMBER 1, 2005
New Famous Pacific Shipping vice-president in New York Port of Halifax welcomes first call from China Shipping Swiss' freight not affected by Swiss European Air Lines SBB Cargo tightening up on wagon load traffic Tradisa taking over Stigler Transport Stockholm testing city toll Soloplan expanding its logistics system to driving times

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NOVEMBER 1, 2005
P&O shares soar Owners choose joint ISM/ISPS audits ITF-sponsored report slams FOC's "illegal fishing" role NOL report Q3 profits increase Geo ASA orders ROV support vessel from Aker

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NOVEMBER 1, 2005
Trinity Yachts moves vessels to Gulfport Greenpeace ship damages coral reef NJ increases spill liability limits Major marine orders for ABB Shipping coalition files brief in ballast water case

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Tung calls on top box lines to avoid price war ORIENT Overseas International chairman CC Tung has appealed to the dominant players in the world's liner business not to rock the boat as the market gets choppier. Maersk lines up 15,000 teu boxships, says Paris broker MAERSK is poised to tighten its stranglehold on container shipping with a new generation of ships able to load up to 15,000 teu, Paris broker Barry Rogliano Salles forecast yesterday. Amlin looks for a quick launch in Bermuda market AMLIN, the largest and one of the most successful ventures at Lloyd's, is to form a new reinsurance company in Bermuda, initially capitalised at $1bn. Britain promotes e-navigation standard BRITAIN'S shipping minister has called on maritime nations and international bodies to work with the UK in developing e-navigation technology, writes David Osler.

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NOVEMBER 1, 2005
Boost for Brazilian yards LEGISLATION has been passed in Brazil that will assist the development and modernisation of shipyards, especially in Rio de Janeiro Russian oil exports still rising RUSSIA will export almost 3% more oil in November than October, as loadings at Primorsk, the country's biggest crude outlet, hit an all-time record Houston: tug repairs cause delays Hurtigrute partners eye Greenland Steel specialist in SAfrica venture New Jersey spill liability rockets Europeans talk up cruise market Break-bulk: better education needed Break-bulk crisis marching closer Break-bulk antagonism 'must cease' Rising son takes over at Imabari Portia leads Port of Spain bidding

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NOVEMBER 1, 2005
Chinese ports playing catch-up, say traders Unlike super-efficient container hubs, exporters and importers say different approaches are needed to cope with the inadequacies of Chinese breakbulk and project cargo ports. Washington mulls change for Ready Reserve ships Port privatization to improve Brazil delays U.S. shippers confused over charter rates Decline of breakbulk fleet could hamper growth Rail delays for Asia imports Mega-mergers should aid price stability, says OOIL's Tung UAL loss widens Kanha joins CP Ships fleet TNT third-quarter profit flat Volumes boost Expeditors profit Diana Shipping buys bulk vessels

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NOVEMBER 1, 2005
Bid war unlikely as P&O figures fail to stack up A bidding war is unlikely to materialise for the P&O Group according to an insider, who says that the returns would just not be there for shareholders. Troika trials Trans-Sib to Moscow route Russian Railways (RZhD) and FESCO joint venture, Russian Troika, launches another intermodal route tomorrow, Vladivostok to Moscow, and rail services will continue developing as its rolling-stock fleet expands. Evergreen calls on China and Taiwan to shake hands and review cross-strait links South and North Koreas co-operate through ports Port Klang trucking costs rise Maersk Sealand departs from Korex, sailing into Shinsundae BPA to select developer for port logistics complex Korean hauliers end strike threat CSAV mulling orders for cabotage tonnage

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NOVEMBER 1, 2005
Container comeback Shares of shipping's largest US IPO have done a U-turn since boxship company Seaspan got spotlight in key financial journal. Aries earns a penny New products and boxship player falls short of analyst expectations in third quarter. Pacific Basin upbeat Hong Kong-listed bulker owner predicting great things for handysizes next year. Wilh Wilh denies spin-off Wilh Wilhelmsen boss Ingar Skaug is categorically denying any plans to spin off Wilhelmsen Maritime Services (WMS). Acquisitions boost B+H Fleet expansion leads to dramatic growth in US tanker owner's profit. First Steamship winning again Taiwanese bulker owner turns a profit in first three quarters after dismal 2004. Uljanik Plovidba cuts costs Croatian tanker and bulker owner increases nine-month profits after slashing expenses. Navios sails for Nasdaq Retired banker Rex Harrington to bolster governance of US dry cargo shipping venture. Palmali adds seventh Russian group MNP's Volgograd shipyard to build another dry cargoship for Turkish owner. Zim officers detained Bulgarian and Serbian nationals to be questioned over Zim Asia's fatal clash with Japanese trawler. Heung-A falls Korean container line sees profits drop by 15% in first nine months, despite revenue rise. Hurtigruten merger plan Norwegian coastal cruise partners to expand internationally after joining forces to create $620m turnover a year business. Diana confirms Bocimar deal New York-listed bulker owner to charter panamaxes back to Belgian owner for a year.

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NOVEMBER 1, 2005
OMI authorizes $70 million share repurchase China Shipping spends $20.7 million on new containers Crowley charters extra vessel for Virgin Islands service Cowen leaves OSG after more than 20 years CORRECTION: FANA names Norton Lilly as sub-agent for North America UAL reports $1.8 billion 3rd-quarter net loss IATA reports continued slow air freight growth in September Continental starts first nonstop U.S./India flight tonight Continental Airlines to start daily Newark/Germany non-stop flights RailAmerica reports $7.7 million 3rd quarter net income CP Railway names Green president FEC rail service remains suspended to South Florida FDA offers guidance to decontaminate food trucks flooded by hurricanes Japan nears decision on U.S. beef imports Schwarzenegger pushing through California goods movement plan Task force completes report on British Columbia trucking dispute Port of Long Beach approves green flag program for ships that slow down Bremen ports' box traffic up 9.3% after nine months

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NOVEMBER 1, 2005
Coastal Express partners to merge At a meeting at Bodø the boards of the two Norwegian Coastal Express partners Troms Fylkes Dampskibsselskap (TFDS) and Ofotens ... CAD 70,000 for oil spill in Canadian waters A 64-litre oil spill in Canadian waters resulted in a CAD 70,000 (USD 60,000) fine. In June 2004, Frontline's ... Limited effect from refinery shut-down Market reactions to the shutdown of Shells Pernis refinery in Rotterdam are limited, except that crude oil traders indicate weaker ...

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NOVEMBER 1, 2005
PDVSA announces new Venezuelan bunker fees Houston prices slide further, New York finally below $300 Prices in main US bunkering ports falling again today and barging unaffected by reports of Houston tug shortage. Florida bunkering shaking off hurricane woes Bunkering operations returning to normal this week after hurricane Wilma avails crisis in Miami. Russian export duty may remain unchanged Russian finance ministry official says export duties may remain unchanged after the latest round of monitoring. Evergreen profits down on reduced shipments, higher fuel Decline in profits attributed to Taiwan's slowing exports growth, reduced shipments, increased shipping capacity and soaring fuel prices. Bunker demand driving force behind refinery projects Strong and rising demand for bunker fuel in the Emirate of Fujairah is driving investment in new refinery projects. Crude near 3-month low on reasonable winter supply outlook Bearish sentiment seems to dominate market with US stocks of crude and heating oil above seasonal averages. Prompt deliveries tight in Rotterdam Japan: September bunker sales down 17.9% on month Both bunker fuel sales and production in September down on month. Indian port seeks sales tax exemption for bunker supply The Cochin Port Trust is seeking government approval for a sales tax exemption for international bunkering terminal at Kochi harbour.