BRIEFS

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Shipping News

Boom time for project logistics
COMPARED with the more high-profile and consumer-driven express freight business, the project logistics segment is a part of the logistics industry that is not often seen or understood.
PSA seeking US$1b refinancing for stake in Hutchison
PSA International Pte Ltd, the second-largest container port operator, plans to borrow US$1 billion to help refinance debt it raised for a stake in Hutchison Port Holdings, said three people involved in lender negotiations.
Will the cost of hull insurance increase as freight rates fall?
FOR some time, the marine hull market has been displaying mixed signals. Overall, underwriters claim that the class is losing money, but this average hides a significant variation between the best and the worst performers.
Golden Ocean says 20% of world capesize fleet idle
Baltic Dry Index sees ninth straight retreat

Strait Talk

Carry rubbish at your own peril
A COUPLE of publications coming to my attention this week have underlined how different a business liner shipping has become. The first was the British seafarers' union Nautilus UK's journal. Towards the back, there was a picture of a model of the Clan Line general cargo ship Clan Shaw and a write-up of its rather short service life, ending up under a different name on the rocks off Cape Town 16 years after being built.

web site

Shipping News

Boom time for project logistics
COMPARED with the more high-profile and consumer-driven express freight business, the project logistics segment is a part of the logistics industry that is not often seen or understood.
PSA seeking US$1b refinancing for stake in Hutchison
PSA International Pte Ltd, the second-largest container port operator, plans to borrow US$1 billion to help refinance debt it raised for a stake in Hutchison Port Holdings, said three people involved in lender negotiations.
Will the cost of hull insurance increase as freight rates fall?
FOR some time, the marine hull market has been displaying mixed signals. Overall, underwriters claim that the class is losing money, but this average hides a significant variation between the best and the worst performers.
Golden Ocean says 20% of world capesize fleet idle
Baltic Dry Index sees ninth straight retreat

Strait Talk

Carry rubbish at your own peril
A COUPLE of publications coming to my attention this week have underlined how different a business liner shipping has become. The first was the British seafarers' union Nautilus UK's journal. Towards the back, there was a picture of a model of the Clan Line general cargo ship Clan Shaw and a write-up of its rather short service life, ending up under a different name on the rocks off Cape Town 16 years after being built.

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Cosco drops PIL-Wan-Hai joint service, sells slots to old partners Evergreen restructures transpacific to meet changing market Biggest boxship to call - 11,300-TEU MSC Sola - docks at CCT China experts suggest mega logistics park near Three Gorges DeTrenck sees a darkening 2009 for boxes - worse than 2008's H2 Building of Ngwa inland container depot in Nigeria to begin CN: Federal rail rate cap cuts US$18.6 million in revenue UK shipping minister praises One Voice, but problems remain Jotun unveils cheaper antifouling product SeaMate Marshall Islands' IRI opens in Baltimore and Geneva Seattle declines 14pc while Tacoma volume off 3.6pc in October Bangkok Suvarnabhumi chief okays cargo flights for take off Aloha unit to provide ground handling services for go! Singapore opens skies to Romania and Zambia UPS to close air cargo operations at Decatur Airport Emirates SkyCargo chooses Globe Air Cargo as GSA in Hungary

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Industry-specific web portal, shippingworkz, proves its worth during tough economic times Shipping Ministry tightens security at Major Ports Meltdown skids bicycle exports Unregistered fishing vessels may pose threat to Western Coast $ 500-m multi-cargo terminal to come up at Hazira port US to screen 50 pc of cargo carried in passenger aircraft from February 2009 AI cuts fuel surcharge by Rs 400 Bankers hint at cutting lending rates by up to 50 basis points Terror strike was aimed at destabilising economy-Experts RBI ensures easier credit flow to exporters Exports rise by 32 pc in Re. terms during April-Oct. US has been in recession since December '07-NBER

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HHLA: new member of supervisory board Hamburg's freeport zone will shrink to 60 ha Lufthansa launches Lufthansa Italia Ruch Transport sold to Remondis Schweiz Carrefour selects Ceva Logistics in Thailand

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DECEMBER 2, 2008
IBF extends "high risk area" W African pirate attack thwarted EU to expand maritime research role Get ready for Rotterdam Rules says TT

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DECEMBER 2, 2008
Security Council passes new piracy resolution U.S. Shipping Partners takes delivery of ATB IMO honors Brazilian seafarer's bravery Piracy danger pay area extended Cummins introduces Tier 2 compliant QSK60 Dunlop cops plea in hose price fixing case

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DECEMBER 2, 2008
Baltic capesize and panamax indices hit rock bottom CAPESIZE and panamax indices are at the lowest-ever levels recorded in the Exchange's history. Yes, it has got that bad: $1,000 a day for a capesize Blackwater sales pitch targets owners and insurers PRIVATE military contractor holds series of meetings in London with potential customers. Double-pay zone extended MOVE to broaden high risk area comes in the wake of Sirius Star hijack.

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DECEMBER 2, 2008
Arming crews 'not the answer' HANS TINO Hansen, the Risk Intelligence agency's chief, has told Fairplay that he believes arming crews to fend off pirate attacks is not the answer to bolstering security China aids ailing metals industry China is to buy 1M tonnes of base metals in a bid to stem plummeting demand and prices in its mining and smelting industry Serbia warns Russia on pipeline SERBIA has warned Moscow that it will refuse to sell its oil monopoly to Russia without its firm commitment to building a gas pipeline through the country Croatian crowd greets freed captain CAPTAIN Kristo Laptalo is today relaxing in his hometown in Croatia after 14 months of captivity in Greece Sovcomflot hails timecharters IN ISSUING strong nine-month results today, Sovcomflot pointed to its growing reliance on timecharters Violence mars port performance THE FOUR days of violence that erupted in Karachi has led to more than a dozen deaths and slowed cargo clearance at Karachi and Qasim ports

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DECEMBER 2, 2008
Maersk shifts PNW from Port of Tacoma Maersk Line next year will move one of its Pacific Northwest container services from Port of Tacoma to nearby rival Seattle LA-LB terminal operators file clean-trucks petition Maersk Line plans to lower Taiwan-Australia surcharges China ups export rebates Tacoma tests rail GPS New rules could increase terminals' liability: Insurer Tampa deploys new crane New Crowley logistics chief Cathay Pacific Airways shrinks cargo operations Crewman injured at Tampa Canada files WTO complaint over US beef labeling rules

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DECEMBER 2, 2008
ELAA urges 'fit for purpose' rules on consortia Asian stocks follow Dow down Ellesmere Port secures request stop for 'green' barge New 'cost effective safe' open top container launched Ports of Auckland hit by 24-hour strike

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DECEMBER 2, 2008
Regaining ground US shipping stocks posts gains Tuesday, swimming with the current on Wall Street, after falling back the day before. Opec rate weight Analyst says possibility of production cuts could hurt tanker rates, but there's a light at the end of the tunnel. Prices fall again Second hand bulkers and tankers shed more value over the past week despite an increase in the number of deals struck. Crunch time VLCC delivery surge is already hurting the market with 2009 cancellations offering no silver lining, top analyst warns. Disney nixes fee Disney Cruise Lines eliminates controversial fuel surcharges and may issue refunds. Pittas builds stake The Pittas family's investment vehicle has been buying up shares in Euroseas. Sea Witch tackled Coast Guard removes oil from an abandoned containership section five years after it sank off Baltimore. Cruise halted Mitsubishi Heavy reportedly scraps plans to re-enter cruiseship market after deal with Carnival falls through. Cruise rescue US Coast Guard medevacs passenger from Royal Caribbean's Explorer of the Seas. Crewman injured Thai seafarer lifted from hold of Thoresen vessel after fall at dry-dock facility in US. Turned away Libyan cargoship prevented from docking at Gaza by Israeli naval blockade. Dof takes it all Norwegian shipowner demands all remaining shares in Dof Subsea as its re-jig nears completion. Buy-back doubled Michael Hudner's B+H Ocean Carriers to repurchase an extra 550,000 of its own shares under a new plan approved today. No thanks Hanjin's Philippines shipyard rejects safety training despite mounting death toll of workers. Blaze in Baltic Eleven passengers evacuated from Tallink vessel as blaze rips through main engine room. Titan two walk Philp Chu quits as CFO of Hong Kong-based shipowner with fellow director Ib Fruergaard Big boob More than 130,000 inflatable breasts feared lost at sea after container turns up empty in Sydney. Arpeni digs deep Indonesian bulker owner ready to use cash reserves towards $68m outlay on new ships in 2009. Gabion gamble Islamic Development Bank ready to plough $2.04bn into new box terminal at Belawan, Indonesia. Back in the game Deep Sea Supply is a "buy" says Nordea as it resumes coverage of offshore shipowner. SCI in the clear Indian owner's boss Sabyasachi Hajara says bulker crash will not have significant impact on its margins. Todd wins work Washington State Ferries accepts shipyard's lone bid of $65.5m to build new US car ferry. Man overboard UK coastguard calls off search for missing crewman from P&O ferry off Norfolk coast. Seismic Swire Hong Kong shipowner inks newbuilding survey vessel at Singapore shipbuilder ST Marine.

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DECEMBER 2, 2008
New ships roll out as operators trim east-west capacity Security firm Blackwater reportedly meeting with ship owners Zim increases size of ships in Asia-Gulf Express British Airways, Qantas in merger talks, Delta trims capacity IATA: Air traffic decline continues Economic numbers paint bleak picture Napolitano picked to head DHS UPS: Companies unprepared for supply chain disruptions Noted analyst Fontanella dies Hose manufacturer pleads guilty in bid-rigging FMC reviews 30 OTI license applications Long Beach port delays infrastructure container tax SoCal ports say FMC suit on truck plan "without merit" SoCal ports file response on truck program injunction

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DECEMBER 2, 2008
Unconfirmed information on vessel releases There are a lot of rumours and unconfirmed information circulating on the imminent release of hijacked vessels. According to some sources, owners and pirates have agreed on a ransom for the arms-laden ro-ro vessel Faina, and that the ... Golden Ocean skips dividend and orders John Fredriksen-controlled Golden Ocean reports a healthy operating profit of USD 122 million for Q3, up from USD 69 million for Q3, 2007. Despite this, the company has announced that it will not pay any dividend in the light ... Fewer ship collisions in the Baltic According to Helcom, the number of collisions between vessels have decreased significantly in the Baltic Sea. In 2007, 15 collisions were reported, which is 50 per cent less than in 2006 and 2005. A total of 120 accidents were reported ...

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DECEMBER 2, 2008
Members back restructuring IBIA votes to replace 'cumbersome' 25-member Council. Towing-kite manufacturer in marketing drive SkySails signs 'strategic partnership' with marine engine sales and service provider. Fuel oil spill closes New Zealand beach Heavy black oil said to have come from a ship bunkering in Auckland. Lower bunker prices trigger demand Reefer operators see business pick up. O.W. Bunker creates 'Purchasing Centre' Spanish office appoints new purchasing manager to streamline regional trading activities. Asia bunkers retreat Hong Kong sees above average demand as shipowners stock up before the holidays. Refiner to slash December bunker supply Reports say Japanese refiner to cut volumes in December and January. ASEAN shipowners want military action against pirates Association calls for more naval vessels and military aircraft. Aegean takes new double-hull to Singapore New bunker tanker is the company's sixth in Singapore waters. Allegro enhances software solutions Enhancement offers two-way exchange connectivity to 22 liquid derivatives exchanges. Directors leave Titan Company announces resignation of directors and change of chief financial officer.