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Shipping News

Baltic Exchange opens regional office in S'pore
FOR the first time in its 260-year history, the Baltic Exchange has opened its first office outside London, making Singapore its new Asia-Pacific base as it seeks to be more responsive to the demands of the surging dry bulk and tanker markets in the region.
PSA vying for Yangshan Port phase 3
PSA International is hot on the heels of several port investments with one almost in the bag and a big one in China being keenly pursued with global heavies like Hutchison Port Holdings and Dubai Ports World.
DP World sells US ports to AIG
DUBAI's giant port company, DP World, sold off its US holdings on Monday to the American International Group , bringing to an end a contentious deal that left a bitter taste for Middle East investors.

Strait Talk

Salvors: Saving the environment and not just ships
THERE was a time, not so long ago, when the priorities were clear when a ship was in trouble; save the crew and then, if possible, the ship.

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Shipping News

Baltic Exchange opens regional office in S'pore
FOR the first time in its 260-year history, the Baltic Exchange has opened its first office outside London, making Singapore its new Asia-Pacific base as it seeks to be more responsive to the demands of the surging dry bulk and tanker markets in the region.
PSA vying for Yangshan Port phase 3
PSA International is hot on the heels of several port investments with one almost in the bag and a big one in China being keenly pursued with global heavies like Hutchison Port Holdings and Dubai Ports World.
DP World sells US ports to AIG
DUBAI's giant port company, DP World, sold off its US holdings on Monday to the American International Group , bringing to an end a contentious deal that left a bitter taste for Middle East investors.

Strait Talk

Salvors: Saving the environment and not just ships
THERE was a time, not so long ago, when the priorities were clear when a ship was in trouble; save the crew and then, if possible, the ship.

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AIG buys six American CTs from Dubai's DP World US warehousing giant ProLogis expands at Dailian port Yangshan CT3 investment draws interest from top operators Shenzhen's and Hong Kong's box volume trends disputed NOL's year-to-date revenue down 7pc, but volume up 7pc EC approves state aid for Maersk's German shipyard Central, Eastern European markets to fuel growth in logistics industry November proves record cargo throughput month for Hactl China to rank first in global airfreight market: Airbus DHL opens first foreign logistics office in Tibet Korean Air starts Incheon-Qingdao freight service

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Rate restorations from Jan. 1 SC upholds pulses export despite ban notification GMB identifies 3 new port sites: SUTRAPADA, MAHUVA & KHAMBHAT Mos zeroes in on Tuticorin, Ennore & Kakinada Port workers bent on Dec. 14 strike Baalu inaugurates dredging in Adam's bridge area L&T bags Delhi airport face-lift deal Forex reserves rise by $ 2.707 bn ICL & NPIL vibe with ex-im trade to celebrate success TT Club offering nuke & bio-chem terrorism cover GTI takes initiative to form Nhava Sheva HR Forum

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Gazeley names new marketing director TT Club offers nuclear and biochemical insurance Finnair to upgrade network SystemPlus extends fast services TNT Logistics renamed Ceva Logistics IRU supports call to withdraw EC proposal on supply chain security

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DECEMBER 12, 2006
AIG buys DP World's US terminals Baltic opens in Singapore MOL's new Russian training scheme BW Gas sells LNG ship NYK boss advises Panama Canal Authority

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DECEMBER 12, 2006
BP to charter first U.S. Shipping NASSCO newbuild Northrop Grumman cooperates with aluminum boat builder Carnival orders newbuild for Costa DP World finds buyer for U.S. port operations

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Troubled TOP Tankers faces two class action lawsuits in New York TWO class action lawsuits seeking damages for alleged violations of US securities laws have been filed against TOP Tankers. Port 'targets' in Brussels secret list confusion BRUSSELS ministries contradicted each other yesterday on the European Union's 'critical infrastructure protection programme'. Costa takes up $491m option from Fincantieri CARNIVAL-owned Costa Crociere has taken up an option on a second cruiseship to be built by Fincantieri. Shipping groups express concern about EC maritime Green Paper SHIPPING has expressed profound reservations over the thinking underlying the European Commission's Maritime Green Paper.

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DECEMBER 12, 2006
Migrant Watch: US/Caribbean Stowaways are having a much harder time crawling aboard US-bound vessels in the ports of the Dominican Republic, a conference was told last week Carnival takes another option CARNIVAL Corp has exercised an option for Costa, pushed off one for Holland America Line and left a third for Carnival Cruise Lines unmentioned No delight for Turkish diplomacy PORT relations between Turkey and Cyprus have become confused following zigzag diplomacy that has failed to advance Turkey's bid for European Union membership Torm to boost shareholder value DS Torm, the listed Danish bulk shipping company, has agreed to review how to generate more shareholder value after discussions with its biggest shareholder India considers higher LNG price EU approves Peel Ports deal India, Pakistan to sign protocol Hurtigruten sells older tonage Spanish owners try, try again Korea needs more LNG ships Carnival confirms TUI talks

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DECEMBER 12, 2006
DP World leading list of Hamburg bidders Dubai firm has emerged as a leading contender to acquire a sizeable stake in HHLA, top container stevedore at Hamburg. Mexico will some keep U.S. apple duties in place JoC, Integration Point to host free trade webcast U.S. trade gap narrows Gain for Seaway traffic Horizon amends credit facility Norfolk Southern to spend $97M on intermodal Trailer Bridge wins Ford pact TNT Logistics renamed Montreal requiring box seals India plans port spending

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DECEMBER 12, 2006
Japan's Fair Trade Council calls for anti-trust immunity abolition in wake of EU regulatory changes Japan's Ministry of Land, Infrastructure and Transport has said it will take a fresh look at shipping line's anti-trust immunity following a report released by Japan's Fair Trade Commission last week. Asian invasion could follow Toll terminal and rail asset sale The Toll Group is considering spinning off its Patrick Terminals and Pacific National rail interests by placing them in a managed trust, to free up cash for aggressive Asian expansion. OOIL deal pumps up DPW's US asset fire sale Vietnam sets date for WTO accession Chinese port restrictions hinders firework exports APL cuts Oakland IT staff as jobs move closer to Singapore home JICT workers start industrial action over employees benefits PIL extends NZ interests with agency acquisition Deputy moves into Oakland's vacant executive director role Updated: DP World sells US facilities Tensions rise as army is brought in to keep the peace in Bangladesh CMA CGM gets interim order aimed at silencing Jacque's brother Johnny PSAI step into Gwadar following DPW's exit from the tender NOL says volumes continue to go up and revenues down

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DECEMBER 12, 2006
Genmar cover up New York owner confirms two more aframaxes fixed on charter, bringing period commitment to 55% heading into touch-and-go 2007. Sultans of spin Teekay Offshore's public offering set to price at target Wednesday in another deft spinoff of assets by Vancouver owner. Horizon reloads revolver US-flag liner operator increases revolving credit facility by $25m as part of senior credit reshuffle. Top gets popped How US-listed Top Tankers is fast becoming shipping's favourite legal pinata. Nordseewerke cuts a SWATH German yard to build two Small Waterplane Area Twin Hull revenue cutters for federal customs. Drugs seized on passenger ferry UK customs recover '500,000 of cocaine after search of car on P&O's Pride of Bilbao. Beltest breaks silence...just Lack of "unsolicited offers" for shareholding in Torm keeps market waiting and share price falling. Steamship at standstill Financial breakeven in prospect as rising P&I claims wipe out healthy investment return. Cruise Costa lotta Fincantieri picks up another $556m order from Carnival's Italian subsidiary. RAL rues late delivery Greenland boxship line sees chartered-in ship detained in Morocco Chowgule orders in Japan Indian panamax owner signs for a smaller unit at Saiki Heavy Industries with options for four more. Russia to sell yard stake Federal Property Fund to auction 20% slice of Amur Shipyard in Primorsk. Cala eyes Maltese yard US corporation wants to buy Marsa Shipyard to build "underwater" cruiseships. Hurtigruten sells two Specialist-cruise outfit considering sale of newer coastal unit after two more vessels leave fleet. CSDC offloads tanker quartet Another China Shipping Group (CSG) subsidiary takes handysizes as new vegetable oil regulations loom. TMM storing up profits Mexican tanker owner adds warehousing firm to boost pre-tax earnings. Baltic branches out London-based Exchange seeks to cater to Asian clientele with new regional office in Singapore. Singapore steps up box checks US-bound containers will be more closely screened for nuclear material from January. US holds Athenian tanker Captain X Kyriakou among three ships stopped over suspected oily water separator violations.

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DECEMBER 12, 2006
U.K. Shipping Minister asks for comments on EC maritime Green Paper Grimaldi fails to convince Finnlines shareholders Interest in TORM cools Yang Ming re-charters 3,129-TEU ship from Danaos Trailer Bridge wins Ford contract Growing ocean trade hard on the ears of marine mammals GAC South Africa opens Saldanha office Canada signs first ever air transport agreements with Croatia, Serbia UPS looks to cut another 650 jobs NCBFAA gets full FIATA membership Coyne Airways to serve Caspian via London, Cologne Cathay moves 9.3% more freight in November United renews U.K. cargo general sales agency contract with Globe Kyocera awards BAX Global warehouse management system contract Icelandic air cargo joint venture to move fish Norfolk Southern to spend $1.34 billion in 2007 on capital improvements GM to sell Vector interest for $85 million Schwab: "Mixed record" for China on 5th anniversary of WTO accession TNT now CEVA Logistics Korea plans logistics fund Israeli shippers seek compensation from government Taco Bell distributor gets clean bill of health Kent to lead DHS outreach to Congress OH Logistics leases Indiana warehouse Sphinx Egypt joins Worldwide Project Consortium Lanier's comments make a splash Montreal makes seals mandatory on inbound containers Port of Busan dredging study commissioned Panama Canal adds NYK Line chief to advisory board

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DECEMBER 12, 2006
Hurtigruten Group sells two vessels Hurtigruten Group has sold the 6,257 grt Narvik, built 1982, to Norway's Young Seamen's Christian Society (Unge Sjømenns Kristne Forening ... IACS questions IMO decision IACS (International Association of Classification Societies) is not satisfied with the adopted IMO-standard for coating, reports Lloyd's List. IACS ... Approval of STS transfers at North Cape Norwegian Pollution Control Authority (Statens Forurensingstilsyn) has approved ship-to-ship (STS) transfer of Russian gas condensate in two fjords ...

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DECEMBER 12, 2006
Auxiliary engine fuel rule conference call scheduled California ARB looking for discussion and input ahead of 2007 implementation. Mixed bunker picture as crude slides US prices and avails vary port-to-port as year end approaching. Chinese supplier to open Singapore unit One of China's newly-approved bonded bunker suppliers to open Singapore trading base. Strong interest in Chemoil's shares Heavy oversubscription reported for shares offered to the public. Major expansion for Amsterdam terminal Valero LP unit sets out plans to boost storage capacity and oil product loading facilities. Rotterdam barge trade quiet as congestion continues Oil prices down on warmer US weather Market remains uncertain what to expect from Thursday's OPEC meeting. Talk of another shortage in Korea Bunker traders anticipate tight availability next week, oil refiners think otherwise.