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Shipping News

Freight rates set to drop over next 2 years: Deutsche Bank
SHIPPING rates for oil, bulk commodities and containers carrying manufactured goods may fall by as much as 7.5 per cent annually in the next two years as the global fleet of vessels expands, according to Deutsche Bank AG.
Alstom wins contract for two cruise liners
THE French engineering group Alstom has won a contract to build two giant cruise liners for Italian line MSC, the Italian company said on Monday.
Yusen ups forecast as Q2 profit doubles
NIPPON Yusen KK, Japan's largest shipping line, raised its full-year profit forecast as profit more than doubled in the second quarter, helped by stronger demand for transporting marine freight.
Samsung Heavy shares gain as Q2 income hits 31.2b won
PD Ports in the black in H1; takeover bid talks ongoing

Strait Talk

Playing the shipping market
THEY say timing is everything in the newbuilding and sale and purchase markets.

web site

Shipping News

Freight rates set to drop over next 2 years: Deutsche Bank
SHIPPING rates for oil, bulk commodities and containers carrying manufactured goods may fall by as much as 7.5 per cent annually in the next two years as the global fleet of vessels expands, according to Deutsche Bank AG.
Alstom wins contract for two cruise liners
THE French engineering group Alstom has won a contract to build two giant cruise liners for Italian line MSC, the Italian company said on Monday.
Yusen ups forecast as Q2 profit doubles
NIPPON Yusen KK, Japan's largest shipping line, raised its full-year profit forecast as profit more than doubled in the second quarter, helped by stronger demand for transporting marine freight.
Samsung Heavy shares gain as Q2 income hits 31.2b won
PD Ports in the black in H1; takeover bid talks ongoing

Strait Talk

Playing the shipping market
THEY say timing is everything in the newbuilding and sale and purchase markets.

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TNT and Cosco join forces in China, Asia Six 50,000-ton berths to be built at Nansha port Dockwise enters China market Shenzhen-Nanchang freight service begins Rotterdam vies for larger vessels, higher cargo volumes Jurong throughput rises 37pc through October Canada, US expand open-skies agreement ANA pilots threaten to strike Lufthansa Cargo, Aer Lingus Cargo lower fuel surcharges

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CKYH alliance lines to add new loops in 2006 Eight 8,500-TEU CMA CGM vessels set to enter Asia-Europe trade Safmarine promotes transpacific services in China New Chairman for Yang Ming CP Ships puts in strong performance in Q3 NOL reports higher profits Container shipping industry to chart consolidation course, focus more on customer ties, projects IBM report Korean container shipping industry drawing up strategies to sail through projected market decline in 2006 Exports log spectacular 28 pc surge in Oct. Exim Bank draws up plans to boost SMEs' exports India, Brazil to improve trade relations No end to rubber imports till 2020 seen IGTPL auctions uncleared cargo to decongest container yard DCI places order for cutter suction dredger with Mazagon Dock Study sees need to focus on US West Coast ports, rail links to ease pressure on Panama Canal SC directs states to prohibit overloaded trucks from plying on road Rlys forms Advisory Council to hear proposed dedicated freight corridor users' views Railways earns 17 pc more from freight transport in April-Oct. Forex reserves up by $ 678 million to $ 1,43,774 million Slovenia invites Indian investors Project managers to be in demand now NCAER revises GDP growth upwards to 7.6 pc in 2005-06 Rs 290-cr. corpus formed for leather industry modernisation ...plans to raise Rs 8,000 cr. Crucial talks on FTA with Gulf states early next year Conference in US to highlight India's success formula Scrap FBT'Ficci US, India aim to double bilateral trade to $ 40 bn in 3 years IMC training programme on 'Issues in service tax' tomorrow Interactive meeting with Brazilian team at IMC tomorrow'

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NOVEMBER 15, 2005
U-Freight Japan strengthens sales team Maersk/P&ONL Europe-Morocco service upgraded Malev offers road feeder services for large shipments New partner for the IFA DPWN reports good results

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NOVEMBER 15, 2005
Holed D/H barge capsizes Senesco to complete ATB at Sparrows Point Senators introduce cargo security bill Rolls-Royce introduces new thruster technology

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Tanker owners in protest over Brussels liability plan TANKER owners' association Intertanko attempted to head off Brussels' proposals for a new liability regime yesterday with a strongly worded letter to European Union transport commissioner Jacques Barrot. Italian owners win right to tonnage tax on chartered vessels IN A significant gain for Italy's shipowners, the tonnage tax introduced last year is to be extended to chartered vessels, under new amendments to the government's 2006 budget proposal. Hanjin on expansion drive with fleet plan HANJIN Shipping, South Korea's leading liner company, is planning to expand its fleet to more than 100 boxships by the end of 2008, using the proceeds of a $483m war chest. Indonesia 'names and shames' nine major lines in handling charges row Indonesia has escalated the row over government-imposed reductions in terminal handling charges by naming nine major lines "caught red-handed" in alleged overcharging. Adsteam heads for union clash ADSTEAM is to make 30 employees redundant at Gravesend and is unilaterally bringing in a week-on, week-off shift pattern for its remaining 36 tug crew on the Thames. Lloyd's List online gets ABCE approval WOULD YOU drive a car without an MOT? Fix a ship without an ISM certificate? Enter the US without ISPS compliance?

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Russians turn to international banks RUSSIAN state-owned tanker operator Sovcomflot is hoping to negotiate international bank loans for its latest Samsung fleet additions worth more than $420M Captain fined after collision danger THE captain of the cargo vessel Belgian Reefer has been prosecuted and fined '2,500 plus costs after putting his vessel on a collision course with three others Rate rebound helps Ship Finance PROFIT sharing from rebounding rates helped Frontline spin-off Ship Finance International during its third quarter Felixstowe gains from Maersk changes NYK posts strong first half StealthGas builds up US wheat surges to Iraq Flag row as Finns go to the polls AWB slams US wheat ban CalMac in staff transfer talks Owners sore as crew ID costs soar Currency appreciation hits HMM Korean yards fear Chinese growth

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NOVEMBER 15, 2005
Dubai Ports signs to build Qingdao hub DP World signs agreement to develop deep-draft terminal with annual capacity in excess of 2 million TEUs, according to report. GreenLane security bill filed Site chosen for U.S.-Canada bridge Record half for NYK Cronos earnings gain CNR, UTU reach contract Boeing offers updated 747 freighter Kitty Hawk loss in third quarter TNT, Cosco in China logistics joint venture

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NOVEMBER 15, 2005
Carriers in THC face off with Indonesian Government Indonesia's government appears powerless to impose a regulation that would have effectively reduced terminal handling charges as major lines refuse to cut the surcharge. Eurovignette draft causes clash: 'cash cow' or infrastructure funding-source? The International Road-Users' Union lobby has expressed outrage over draft proposals on EU-wide tolls and road-charging rules, saying member-state governments will not be able to keep their hands off revenues. Maersk Line thinks global, acts local for UK service announcement Hanjin to place new orders to coincide recovering market Columbia River project gets US$15m from Congress APL average revenues up 12% in YTD FESCO promotes container business Bangladesh to build containership Rail companies to trial another Germany-Russia route Higher revenues fail to prevent NYK profits declining Trans-Sib tunnel reconstruction complete

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NOVEMBER 15, 2005
K-Sea barge capsizes in Gulf Size of fuel-oil leak still undetermined as salvage crews work ahead of approaching rough weather. ISH back in New Orleans New Orleans mainstay International Shipholding Corp (ISH) is officially back in its home offices as of today. Peter gets Genco reward Georgiopoulos' New York-listed dry bulk company grants him 1,200 shares restricted stock as performance incentive. Tug reaches OSG tanker Rudderless Overseas Colmar will get escort to Korsakov for further evaluation after grounding incident. IT to shipowning Indian software house set to move into ownership as it bites on Thai LPG carrier venture Picnic Marine. Irish Ferries rejects court ruling Labour Court says staff outsourcing on Irish routes would represent 'abrogation' of company's crew agreements. Seven ships censured Small list of detentions in Hong Kong during October. Union reports Gdynia Polish prosecutor told of yard bosses' failure to pay insurance premiums for workers. Three added to flag listing Georgia, Indonesia and Kenya have racked up enough 'black blobs' for dishonourable mentions in the latest flag performance tables. Gemba gold for NYK Profitability of Japan's largest shipowner rises more than 60% as it embarks on aggressive growth strategy. Vitaco stake up for grabs Vietnamese oil company Petrolimex to float products tanker subsidiary in December. Merger meeting called Blank cheque acquisition vehicle sets the date for deal with Gourdomichalis brothers' FreeSeas venture. Rare sale of Eidsiva stock Company jumps in to make opportunistic purchase as shares come on the market. Samsung beats peers Korean yard outperforms compatriot yards in third-quarter. Naikai nudges into red Japanese shipbuilder posts first-half loss from lower revenues. OSG tanker grounds Handysize loses rudder after incident in heavy swell off Russia's Sakhalin Island. Kuribayashi crashes Japanese ro-ro owner falls to big unexpected loss in first half. Thoresen teeters Thai bulker player ends year on a low after rate weaknesses cause dip in fourth quarter profits. Master fined for safety breach Reefer captain faces close to $9,000 in fines for failing to cross the Dover Straits correctly. Gulf goes to China Keppel wins six-ship deal from US offshore operator with some to be built at new Nantong yard.

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NOVEMBER 15, 2005
NYK's first half profits up 62.6% APL's container traffic up 11% Alianca renames 5,500-TEU ship U.S. intelligence agency warns vessels to avoid Mogadishu Pipe-laying barge, adrift in North Sea, now safe in Bergen AIMU, IMUA sponsor cargo-conveying conference for insurers Waterways Conference elects leaders Butler, shipping and port executive, dies at 56 Deutsche Bahn planning $1.12 billion BAX Global acquisition Boeing receives orders for new 747-8 freighter Lufthansa, Cargolux Cargo reduce fuel surcharges again U.S.-Canada panel selects region for new Detroit-area bridge crossing C.H. Robinson CEO Wiehoff champions collaboration, flexibility "K" Line launches IAS reservation system BNSF alters sales, marketing positions New roles at Pacer Stacktrain for Mettra, Bailey Young to head BDP Latin America operations COSCO, TNT to start logistics joint venture U.S. soybean shippers outraged by biodiesel tax "loopholes" U.S. corn syrup shippers protest ongoing Mexican beverage tax Gibson Dunn announces homecoming for Bonner U.S. provides $399,962 grant to improve port security in Cartagena

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NOVEMBER 15, 2005
Distressed timber-laden Italian towed to port The Maltese-flagged vessel "Black Pearl", built 1980, had a black-out off Ushant this weekend during a voyage with ... EMSA to Lisbon in April The European Maritime Safety Agency EMSA will move from Brussels to a temporary office in Lisbon in April next year ... Two cruise awards to Copenhagen Malmö Port Copenhagen Malmö Port (CMP) has been awarded in two categories under the World Travel Award. On world wide basis Copenhagen ...

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NOVEMBER 15, 2005
K-Sea barge flips following spill The barge leaking fuel oil after its weekend collision has flipped, according to latest reports. Houston: Fuel oil bunkers for $250 Bottom end of the Houston market at break-even point but most suppliers keeping prices steady. Jamaica refinery down 'for two weeks' Bunker avails tightening in Jamaica as refinery outage limiting resupply. PRAXIS: Daily bunker market report PDVSA inks crude and fuel oil supply deal with Chinese firm PDVSA agrees to supply 60,000 bpd of 380 cst and 180 cst to Chinese firm. NYK Lines posts record H1 profits despite higher fuel costs Japan's leading shipping firm increases projected bunker price for October-March, but is upbeat about full-year profits. WFS reports 97% rise in Q3 earnings World Fuel Services on target for another record year with strong results for the first nine months. Real impact of LSFO era in 2007, Petrobras says 2006 will bring a new era in the bunker business, but the biggest impact on LSFO demand will be in 2007, a company official from Petrobras Marine says. OPEC to decide on supply after winter OPEC will decide its oil supply policy for early next year after the winter, but at the moment, the oil cartel sees no need to reduce output.