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Shipping News

Shipyard shares dip on price report
SHARES of Hyundai Heavy Industries Co and other Asian shipbuilders slumped, after the world's largest shipbroker cut its estimate of the price of new vessels because of falling demand and lower steel costs.
PSA, Jurong Port volumes surge
SINGAPORE's container terminal operators continued to turn in increasing year-to-date throughput volumes, with PSA International recording a 11.4 per cent rise in container boxes handled globally and the smaller Jurong Port showing a 58.6 per cent increase.
Pirates hijack tanker, surrender after six-hour standoff
PIRATES hijacked a Malaysian-registered tanker yesterday and held the crew hostage for nearly 12 hours before surrendering to police and naval forces who laid siege on the ship, authorities said.
Maersk bid for Nedlloyd nets CEO Green 5.4m
Deal of the week

Strait Talk

Shipping pools under the spotlight
UNTIL recently, the only sector of shipping that felt itself under pressure from anti-cartel regulators was liner shipping.

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Shipping News

Shipyard shares dip on price report
SHARES of Hyundai Heavy Industries Co and other Asian shipbuilders slumped, after the world's largest shipbroker cut its estimate of the price of new vessels because of falling demand and lower steel costs.
PSA, Jurong Port volumes surge
SINGAPORE's container terminal operators continued to turn in increasing year-to-date throughput volumes, with PSA International recording a 11.4 per cent rise in container boxes handled globally and the smaller Jurong Port showing a 58.6 per cent increase.
Pirates hijack tanker, surrender after six-hour standoff
PIRATES hijacked a Malaysian-registered tanker yesterday and held the crew hostage for nearly 12 hours before surrendering to police and naval forces who laid siege on the ship, authorities said.
Maersk bid for Nedlloyd nets CEO Green 5.4m
Deal of the week

Strait Talk

Shipping pools under the spotlight
UNTIL recently, the only sector of shipping that felt itself under pressure from anti-cartel regulators was liner shipping.

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China agrees to EU textile curbs Chinatrans' HK business grows Thumbs up for HK-Zhuhai-Macau Bridge alignment Penashin Shipping changes name of Jakarta office End of EU anti-trust law won't hurt shipping lines, shippers: report Jurong box throughput soars Vanguard signs transport deal with TRC in NZ Qatar Airways orders 80 jets at Paris Air Show China Southern plans China-Peru service Robert Barron appointed Kitty Hawk VP and COO

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Hamburg Sud reaffirms commitment to Indian trade GE Shipping contracts to sell Aframax crude carrier ITPO to target CIS, Africa, LatAm for exports SSI sector exports up by 20.7 pc India, Iran sign $ 20-bn LNG agreement Anti-dumping duty imposed on rubber from EU, Brazil Dumping duty on German, Korean rubber to continue KoPT to construct 2 barge jetties at Haldia Dock Port workers hold demonstrations against privatisation move Maersk Logistics wins Wal-Mart's award for 4th consecutive year Fieo wants exemption for services availed abroad Move to prevent misuse of Cenvat credit on service tax PM calls for medium to long-term strategies to fortify ties with major trading partners Industrial production up by 8.8 pc in April SION for 12 new export items 'India Initiative 2005' in warsaw from tomorrow Meet to discuss 'Doing Business with Illinois' today

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Eurotunnel: Jean-Louis Raymond resigns Wallenius Wilhelmsen launches new South Africa service Nippon Cargo Airlines takes delivery of Boeing freighter New Norway-Sweden road link More moves for Hellmann in UK

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JUNE 14, 2005
IACS agrees start date for bulker, tanker common rules NOL: "European planning delays causing congestion" Bibby to charter dive support vessel

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JUNE 14, 2005
Keppel and Diamond Offshore confirm jackup contract IACS sets date for Common Rules implementation

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Capital Maritime revives Greek stampede to list on Wall Street GREEK shipping's crush on Wall Street continues to simmer despite recent market turbulence, with the Evangelos Marinakis-led Capital Maritime & Trading Corporation filing its registration for an initial public offering on the New York Stock Exchange. Brussels set to drop port services Bill BRUSSELS is prepared to withdraw the controversial port services directive if faced with opposition from other European Union institutions, the head of the transport ministry said yesterday. Coalition naval forces step up Iraq oil terminal patrols US-led coalition naval forces are raising their profile around Iraq's offshore crude oil export terminals after an upsurge in piracy in the northern Persian Gulf, including a recent attack on an oil tanker, the British Royal Navy confirmed yesterday. Industry greets common rules accord SHIPPING industry leaders have welcomed the agreement between members of the International Association of Classification Societies on an implementation date for common rules for tankers and bulk carriers, writes Michael Grey. Baltic honours Prescott for his role in British tonnage tax BRITISH deputy prime minister John Prescott has been awarded honorary life membership of the Baltic Exchange in recognition of his part in the establishment of the country's tonnage tax system.

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JUNE 14, 2005
IACS truce secures common rules THE International Association of Classification Societies (IACS) avoided a split last night after its 10 members reached a compromise over how their work on developing new common rules would be paid for Toll confirms Challenger charter TOLL Shipping today confirmed the charter of the ferry Stena Challenger (ex-pride of Cherbourg) for its Cook Strait, New Zealand, run New box operator at Imbituba LIBRA Terminais has signed an agreement with Companhia Docas de Imbituba to operate the container facilities at Imbituba in Brazil until 2012 Canadian ballast rules proposed Canada helps Caribbean MoU Drug runners use cruise ships India/Iran in $18Bn LNG deal Ghana bidding concerns APM hints at more terminals Camillo Eitzen to raise $46M Paper lockout effects begin Mumbai to privatise four terminals Novorossiysk battle begins

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JUNE 14, 2005
LA-Long Beach won't see peak repeat Carriers, shippers say they're better prepared than in 2004, when surging imports hurt box handling. Lower RFID tag prices expected to help supply chain Halifax nets Suez imports Hutchison to buy Cosco shares Va. chassis pool hits 100% Gov't. OK for UPS Overnite buy Vessel record for Panama Canal New box ops GM for Houston Panalpina's Davies to lead SCS

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JUNE 14, 2005
Asia/Europe rate failure a surprise, says line At least one carrier was 'surprised' by the shipping lines' collective failure to achieve the full US$250/TEU general rate increase (GRI) on the Asia/Europe trades in April. Is Samskip-Geest-Seawheel a deal? Samskip is to make another step in the consolidation of the intra-European market, by acquiring Seawheel, to fit with its Geest North Sea Line (GNSL) business, ci-online understands. Port of Halifax captures new box cargo from Asia Libra Terminais to operate Imbituba terminal for seven years Congestion will remain even as China's growth slows Fujian Shipping to launch China/Japan/Korea service Upgrade to Evergreen group CEM service underway Chinese vice premier criticises US approach to textile imports Security inspections exceeded expectations, says USCG Heung-A to purchase two boxships Inchon Container Terminal draws new carriers APMM's application for China holding company underway Correction: PSA orders 80 RTGs from Doosan Heavy Industries

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JUNE 14, 2005
NOL focuses on congestion Singapore owner reveals research highlighting need for better planning in development of boxship terminals. Nine quit Confitarma Row among Italian owners leads to more resignations, including that of Pier Luigi Foschi, from industry association. Formosapetro Forever sold? Formosa Plastics could pocket hefty $70m after VLCC rumoured bought by US buyers. Atlantska banks on home comforts Croatian owner to receive state aid for newbuilding, which it must register and crew domestically. Toll takes P&O ferry Australian group adds third ferry in New Zealand's Cook Strait. Fiskars snips Wartsila Finnish scissors maker to cut dominant shareholding in top marine enginebuilder. Aboitiz deal rises in value Stock-based purchase of five companies by Aboitiz Transport from its parent now worth $13m. Old Lady gets the boot Excel Maritime disposes of ageing auntie ahead of special survey. Kiperousa tug damaged Tsavliris-operated Nikolay Chiker touches bottom while attempting to salvage stranded bulker. Japan threatens tax schemes Flag-boosting fiscal policies attacked by Japanese as 'market-distorting'. Capital ideas Marinakis' Capital Maritime & Trading poised to be next company to US public equity market. Eitzen in bond first Axel's Oslo listed operation prepares to tap new financial market. Slobbe takes the helm High flying Dutchman set to be sole top level Royal P&O Nedlloyd survivor of Maersk takeover. Can Gio under threat Vietnamese cargoship seized in Tanzania could be auctioned off in court row. Greenbacks for Green AP Moller - Maersk confirm that P&O Nedlloyd takeover will put $10m in Philip Green's pocket. Another Maltese row brewing Troubled Malta Shipyards is facing another headache as workers demand overtime pay.

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JUNE 14, 2005
EC consultant findings deal new blow to carrier immunity NOL says European planning process costing 540 million euros BIMCO updates bunker emission clause Maruba adds California/Mexico link Höegh Autoliners orders four pure car truck carriers Fesco raises Asia/New Zealand rates American Airlines adds second nonstop Dallas/Sao Paulo flight Pilot Air promotes Kelemen, appoints Duggan Competition arrives in France's rail freight market U.S.-Singapore FTA fails to stop illegal timber imports Jurong Port container volumes soar 59% Port of Houston promotes Guenther

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JUNE 14, 2005
Mandatory became recommendation at IMO meeting The IMO NAV Committee meeting last week considered a number of proposed Associated Protective Measures, (APM), to the Particularly Sensitive ... OVDS to order new cruise ship In a few weeks time Ofoten and Vesteraalens Dampskibsselskap (OVDS) will order a new cruise ship to consolidate its position ... Smyril Line in red but much better Smyril Line P/F, the Faroese ferry operator, came out of 2004 with red figures at the bottom line. Although ...

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JUNE 14, 2005
Freeport dry for a week following giant stem PDVSA Deltaven advises that key Bahamas port is currently out of avails with no replenishment stocks due for a week. More transparency in fuel costs sought Asian Shippers' Council seeking clearer justification for freight rate increases. Saudi oil minister: "Build refineries" to soothe oil markets As OPEC leans towards a modest quota increase, the Saudi oil minister says more refineries must be built to address the shortage in distillate supplies, which is driving oil prices. BP annual review: Record energy demand growth in 2004 Chinese energy demand was exceptional in 2004, but strong growth was a global phenomenon, according to BP, which also said supply grew to meet demand, while world oil reserves remained little changed. Classification societies reach agreement on common rules The world's ten major classification societies have agreed on an implementation date for the introduction of so-called "common rules" for tankers and bulk carriers. SMP develops new lube for use with low sulphur fuels Responding to the concerns of ship operators and the changes in sulphur emission control regulations, Shell Marine Products (SMP) has launched a marine lubricant designed specifically for engines burning low sulphur fuel oil. ARA sharply higher after crude jump Salvage tug sustains damage attempting to float grounded bulker A salvage tug sustained damage after it tried to recover the grounded Kiperousa, which is still carrying bunker fuel onboard. US oil spill fund awaits boost US Senator Ted Stevens is seeking to boost the US oil spill fund and to maintain a fund balance of between $2 billion and $3 billion. Malaysia's anti-piracy force to be launched in November The new Malaysian Maritime Enforcement Agency (MMEA) aimed at fighting piracy will be launched in November. Oil prices jump $2 ahead of OPEC meeting Crude oil prices jumped by more than $2 in New York last night ahead of OPEC's meeting in Vienna tomorrow. Distillate supply fears shake market Concerns refiners will be unable to meet surging global demand for distillate fuels sends oil, marine distillate prices up.