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Shipping News

New ship prices on the decline, says Clarkson
SHIPBROKER Clarkson has cut its assessment of new ship prices from records because of falling demand for vessels and lower steel prices.
Teekay, Mitsui OSK among firms set to win US$3b Qatar tanker order
TEEKAY Shipping Corp, the world's largest oil tanker company, and Mitsui OSK Lines Ltd, Japan's second-biggest shipping line, are among a group set to win a US$3 billion order for liquefied natural gas tankers from Qatar.
M&A can wait till share and vessel prices fall: Teekay
TEEKAY Shipping Corp, whose ships carry more than a 10th of the world's seaborne crude oil, will avoid purchasing smaller competitors until share and vessel prices decline, said chief executive Bjorn Moller.
Australia closes anti-trust case against Stolt-Nielsen
US still debating rule for US$1 container security seals

Port Shots

Port Shots
THE price of oil tankers and other vessels to be scrapped fell last week in Bangladesh and India, the world's biggest ship demolition markets, because of a drop in prices of recycled steel plates.

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Shipping News

New ship prices on the decline, says Clarkson
SHIPBROKER Clarkson has cut its assessment of new ship prices from records because of falling demand for vessels and lower steel prices.
Teekay, Mitsui OSK among firms set to win US$3b Qatar tanker order
TEEKAY Shipping Corp, the world's largest oil tanker company, and Mitsui OSK Lines Ltd, Japan's second-biggest shipping line, are among a group set to win a US$3 billion order for liquefied natural gas tankers from Qatar.
M&A can wait till share and vessel prices fall: Teekay
TEEKAY Shipping Corp, whose ships carry more than a 10th of the world's seaborne crude oil, will avoid purchasing smaller competitors until share and vessel prices decline, said chief executive Bjorn Moller.
Australia closes anti-trust case against Stolt-Nielsen
US still debating rule for US$1 container security seals

Port Shots

Port Shots
THE price of oil tankers and other vessels to be scrapped fell last week in Bangladesh and India, the world's biggest ship demolition markets, because of a drop in prices of recycled steel plates.

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Hutchison sells stake in HIT and Cosco-HIT to PSA Royal P&O Nedlloyd shareholders mull AP Moller-Maersk offer Boston longshoremen fraud scam exposed, report alleges Chinatrans to use Singapore as hub Okay given for trial dredging at Melbourne's Victoria Channel HK May air cargo shows robust growth Shenzhen Airlines receives first 737-900 in China Volga-Dnepr Group's 2004 revenue hits US$300m Taeco to build 5th hangar in Xiamen

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Stepping stone to superior ports, infrastructure DCI bags Enterprise Excellence Award 9 services related to shipping out of tax net SCI posts staggering 126 pc rise in net profit in 2004-05 Landlocked Jharkhand offers to collaborate in building dedicated port along Gujarat's coastline Former TPT trustee elected President of AICCI, Tuticorin CoPT replaces oil pipelines in record time Operations at Major Ports may be partially hit today 5 in fray to develop port at Gopalpur Rs 125-cr. dry dock facility for ship repairs planned at New Mangalore Port Railway Ministry drafting terms for private sector role in box movement Dehong-Mandalay road extension to Assam seen as a key to development of Indo-China trade Forex reserves up by $ 175 million to $ 1,39,829 million Certification for Cenvat credit claims on cards ECBs ceiling raised by $ 3 bn to $ 12 bn Ban on import of light black pepper lifted Panel to finalise approach to rules of origin for FTA with Asean in a month Capital goods industry in for better deal

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JUNE 13, 2005
New Luxair general director A.P. Møller-Mærsk A/S makes offer for Royal P&O Nedlloyd Swissport and Air France sign agreement Bayernhafen Regensburg launches ro-mo to Graz Prologis to acquire Catellus for USD 4.9 billion Bangladesh to reduce customs duty on raw materials DHL Danzas Air and Ocean selects Metaship intermodal software Air and Port Security Expo Europe 2005, Brussels, 22 June

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JUNE 13, 2005
Baltic Exchange cuts loss Aussies drop Stolt-Nielsen cartel probe Bimco updates bunker clause Stolt Offshore charters cable layer American Club fights fatigue

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JUNE 13, 2005
Management promotions at Bollinger Maritrans takes delivery of sixth d/h barge rebuild USCG port state detentions rise

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JUNE 13, 2005
Port of Olympia names interim director Portland International Airport will go with common use system Port of Kalama holding open house for Milford Westin The New World Alliance makes peak season adjustments Hanjin set to launch service to Mexico, Guatemala

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Green scoops £5m from Maersk deal TAKEOVER target Royal P&O Nedlloyd's boss Philip Green is set to bank £5.4m ($10.2m) from Danish shipping giant AP Møller-Maersk's €2.3bn ($2.9bn) swoop on the Anglo-Dutch operator. IACS clinches 'peace in our time' A LANDMARK deal was clinched last night in Paris for a single set of global shipbuilding standards intended to make new ships stronger and safer, but almost certainly more expensive. Cosco will offer hefty dividends AN EARLY viewing of the draft prospectus for the forthcoming initial public offering of Cosco Holdings shows the mainland shipping firm is offering large dividends as a sweetener for investors worried the container offering might be launching as the market peaks. Bulker quarantined amid Marburg bug death alarm A BULK carrier remains in quarantine off Réunion after the death of a seafarer sparked fears of an outbreak of the horrific Marburg virus, writes David Osler. Flemming Jacobs joins DVB Bank's board DVB Bank, Frankfurt, specialist in the global transport market including ship finance, has announced the appointments of Flemming Jacobs and Robert van der Burg to the bank's supervisory board, writes Valerie Tadesse in Cologne.

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JUNE 13, 2005
Stolt off hook in Australia THE Australian Competition & Consumer Commission has found insufficient evidence to pursue investigations into alleged cartel practices by Stolt-Nielsen Transportation Group Profits up 127% at SCI SHIPPING Corp of India (SCI) has increased net profit by 127% to Rs14Bn ($323M) for the financial year 2004-05, helped by an extraordinary tax write-back EU report on conferences released THE abolition of EU liner conferences would not have any significant impact on capacity or market structure, according to a report to the EU Transport Directorate Kiperousa facing storm P&O Nedlloyd bid opens today India sources Caspian oil India looks to Australian LNG Channel Tunnel turmoil Fishermen block Bayonne French catch another med polluter Houston doubles up Minimal disruptions from Arlene French blockade Irish Ferries

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JUNE 13, 2005
Trans-Pac ag rates rising Exporters facing higher freight rates from Tacoma (left), other ports as carriers struggle with growing trade deficit imbalance. TACA extends fuel charge Cargo plane crashes in Fla. Chinese cargo to rise 50% Matson hikes fuel charge Intermodal rail moves up EU chides U.S. China tactics Profits double for SCI Frankfurt air-cargo record BA doubling Heathrow capacity

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JUNE 13, 2005
Hutchison confirms HIT share sale to PSA Hutchison Whampoa announced yesterday that it had signed an agreement to sell 20% and 10% stakes in Hongkong International Terminals (HIT) and Cosco-HIT respectively to PortCapital, PSA International's investment company. Sino-EU textile negotiations avoids trade war Euro parliament to host 'delicate' public hearing on port services directive Netherlands rail transport strike announced for Friday Chinese foreign trade shows healthy growth Maruba west-coast shuttle service to create Americas gateway EC report: Major trades to see lesser impact from any conference abolition South American neighbours discuss port swap scheme CIS containerised cargo increase exceeds overall cargo growth All change in Tacoma, as redeveloped Husky Terminal opens

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JUNE 13, 2005
Capital ideas Marinakis' Capital Maritime & Trading poised to be next company to US public equity market. Capital Maritime seeks $250m Marinakis family offering could top $300m with underwriter shares for 35-unit mixed fleet of products tankers, OBOs and bulkers. Slobbe takes the helm High flying Dutchman set to be sole top level Royal P&O Nedlloyd survivor of Maersk takeover. MAIB slams manning levels UK accident investigators call for IMO or EU to set minimum crewing levels. Greenbacks for Green AP Moller - Maersk confirm that P&O Nedlloyd takeover will put $10m in Philip Green's pocket. Eitzen buys again Listed Nowegian shipping group spends $10m to add to its chemical carrier fleet. Baltic slashes loss London shipping exchange half way to breakeven plan aimed at paying hefty dividends. Sumatec adds tanker Malaysian shipping newcomer raids Japan for products carrier. SCI banks huge profit Indian owner builds earnings in year to 31 March, adding to war chest for acquisitions. US ship detentions rise Coast Guard reveals setback to steady improvement in shipping safety standards. BC Ferries boosts bottom line Better year for Canadian owner to 31 March, but rising fuel prices causing concern. No action down under Stolt-Nielsen cartel probe wound up in Australia due to insufficient evidence. Rieber leases long-term Norwegian owner's cable-layer chartered to Stolt Offshore for up to nine years. Bibby takes charter plunge UK owner signs up Volstad Maritime's diving/construction newbuilding for the long term. Eimskip orders more reefers Icelandic owner adds another two ships to newbuilding backlog and also agrees options for four more. Li Ka-Shing backs Cosco IPO Asia's richest man confirms $150m investment in Cosco Holdings' Hong Kong initial public offering. Gas scare halts boxship Eimskip's 841-teu Lagarfoss (built 1995) delayed off Aberdeen after crew find ammonia gas leak.

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JUNE 13, 2005
Maersk's formal bid for P&O Nedlloyd effective today EC consultant: No big impact if conference immunity is ended NIT League opposes bill on Californian box fees Pressure grows for ocean rate increases on ag exports, WTSA chief says Matson raises fuel surcharge Volga-Dnepr's revenues top $300 million Nippon adds 747-400 XRG secures $1.6 million for reorganization PSA, Hutchison enter $925 million terminals deal in Hong Kong Shreveport gets $200 million steel production plant

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JUNE 13, 2005
Offer launched on Royal P&O Nedlloyd A.P. Møller-Mærsk A/S has now launched its official offer for the shares in Royal P&O Nedlloyd. The ... Bulk carrier free from Great Belt position The Greek owned bulk carrier "Eleftheria", which grounded in Great Belt last week, is now salvaged. Sunday afternoon after nearly ... "Schieborg" back in service The ro-ro vessel "Schieborg" has re-entered the Cobelfret service Göteborg ' Zeebrügge after extensive repairs. The vessel was badly ...

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JUNE 13, 2005
Light demand for bunkers on US west coast Ships in port in Los Angeles but suppliers not seeing enquiries coming in. Fuel costs force Canadian ferry operator to seek surcharges BC Ferries to impose passenger and vehicle surcharge to cover high fuel costs. Brand new tanker to service Portland bunker station Southampton-based tanker operator Crescent Tankships, which is set to double its fleet with new-builds by mid-2007, expects its newest tanker to begin service for BP Marine in Portland shortly. Significant international interest in Turkish bunker venture Turkish Petroleum distributor Petline has said that it has already received significant international interest for its proposed joint venture bunker operation in Turkey. MPA: Corrupt manager's sentence an effective deterrent The sentence imposed on the former manager of Lungshan Petroleum will act as an effective deterrent against corrupt practices in Singapore's bunker industry, officials have said. Bunkering company established in Tokyo A Japanese company called International Bunker Services K.K. (IBS K.K.), part of a huge Danish shipping and bunkering group, has recently been set up in Tokyo. Rotterdam barges heading higher at midday Hong Kong: Impending cleanup works may affect bunker supplies Major maintenance and cleanup works on bunker fuel tanks are expected to commence this month leading to possible tightness, market sources said. Crude prices fall after passing storm The passing of Tropical Storm Arlene with minimal disruption to US oil supply from the Gulf of Mexico sent crude oil prices falling below $54 in New York on Friday. NYMEX and Dubai sign partnership to build futures exchange NYMEX and Dubai have signed a deal to build the first energy futures exchange that will also offer futures trading in marine oil at the port of Fujairah in the Middle East.