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Shipping News

Tanker industry cautious over S Korea's ban
SOUTH Korea's plan to bring forward its ban on single-hulled tankers using its waters has been greeted cautiously by industry players here.
DP World buys 48.5% stake in African port firm
Dubai Ports (DP) World has expanded its existence in the Port of Maputo in south-eastern Africa's Mozambique by acquiring a 48.5 per cent stake in a firm controlling the port, local newspaper Gulf News reported yesterday.
Tanker in S Korea's worst oil spill sets for repairs
The single-hulled tanker that caused South Korea's worst oil spill last month will undergo repairs in China, its Hong Kong-based owner and manager said.

Strait Talk

Expect premium hikes in 2008
THE turn of the year means different things to different people. For shipowners, it means the time is almost upon them to make one of the more important financial decisions of the year. The February liability insurance renewals are almost here and decisions about continuing or switching insurer are either already made or under consideration. Discussions either directly through other brokers will have resumed following the seasonal holidays.

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Shipping News

Tanker industry cautious over S Korea's ban
SOUTH Korea's plan to bring forward its ban on single-hulled tankers using its waters has been greeted cautiously by industry players here.
DP World buys 48.5% stake in African port firm
Dubai Ports (DP) World has expanded its existence in the Port of Maputo in south-eastern Africa's Mozambique by acquiring a 48.5 per cent stake in a firm controlling the port, local newspaper Gulf News reported yesterday.
Tanker in S Korea's worst oil spill sets for repairs
The single-hulled tanker that caused South Korea's worst oil spill last month will undergo repairs in China, its Hong Kong-based owner and manager said.

Strait Talk

Expect premium hikes in 2008
THE turn of the year means different things to different people. For shipowners, it means the time is almost upon them to make one of the more important financial decisions of the year. The February liability insurance renewals are almost here and decisions about continuing or switching insurer are either already made or under consideration. Discussions either directly through other brokers will have resumed following the seasonal holidays.

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NYK chief orders ships to slow down 10pc to retain profitability OOCL names latest 4,578-TEU containership, the OOCL Busan Bifa warns members to comply with UK Big Bang rules by January 20 Singapore boxship held in Taiwan after deadly ferry collision E-manifests for trucks in Alaska ahead of nationwide enforcement Software company ready to deal with US Customs '10+2' demands BHP-Billiton containerises nickel shipments between West Australia and Queenland China airfreight overcapacity feared as facilities proliferate Boeing reports stellar aircraft sales of US$171 billion in 2007 Vietnam Airlines, Vietnam Aircraft Leasing finalises deal for 12 Dreamliners

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Chennai feeder operators to phase out trade surcharge Shipping industry sails smoothly through 2007 Allcargo Global enters 2008 as market leader ABG Shipyard's Q3 net surges by 60.8 pc Minister to straighten out tea issue with Pak RFF 1st to get off mark at ICD-Nagpur Hurdles to FTA with Malaysia being cleared MEA may be asked to sort out tea imbroglio with Iraq Myanmarese team coming in April to sign Sittwe port pact Maritime states to enhance port capacities to 1,086 m tonnes by 2011-12 India, Japan to sign currency swap deal SEZ ceiling relaxation norms could take 2 years GTI plays educative role too! Four international firms in fray for Navi Mumbai airport consultancy

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JANUARY 8, 2008
New CEO for Lehnkering Mombasa port to be further developed Sri Lankan flies without Emirates ÖBB takes over Hungarian freight railway Norbert Dentressangle increases stake in Novatrans

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JANUARY 8, 2008
Chemoil boss Robert Chandran dies Credit squeeze "beneficial for shipping" Record fleet for Liberia DP World puts extra US$32m into Maputo US Lines and ANL rationalise services

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JANUARY 8, 2008
OTC-listed company to become shipowner CNO starts shipyards tour Maersk Line to shed up to 3,000 jobs Apollo closes $1 billion investment in NCL

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JANUARY 8, 2008
Quintana tight-lipped over sale talk NASDAQ-listed dry bulk firm silent over reports it is about to be bought by Excel Maritime. Quintana puts up defences against hostile takeover Maersk axes jobs as new strategy unveiled BETWEEN 2,000 and 3,000 jobs to go as the Danish line strives to return to sustainable profitability. Box shipping's old guard keeps a firm grip EXTRAORDINARILY, in this youth-obsessed world, the most powerful men in container shipping are well past normal retirement age.

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JANUARY 8, 2008
Shipping banks hoover up €1bn HSH Nordbank, Deutsche Bank and HSBC raised €1Bn today in what they said was the largest issue of a German ship mortgage bond to date Aker loses CFO to former parent LEIF Borge, cfo of Aker Yards, has stepped down from his post at the biggest shipbuilder in Europe and assumed the same position at Aker Kvaerner, controlled by the shipbuilder's former parent, Aker Call for East Med Sea Motorway THE European Commission has set a 20 February deadline for proposals concerning the Motorways of the Sea projects in the East Mediterranean Brazil to privatise 'most' ports Argentina bans fuel exports Korea confirms single-hull ban Montanari says ciao to Confitarma New shipping co set up in Bahrain Finaval revises expansion strategy Maersk Line to slash workforce No sonar ' whales ahead Seattle port procedures 'wasted $27M' Hebei Spirit leaves Korea

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JANUARY 8, 2008
Maersk Line to cut up to 3,000 jobs World's largest container carrier will cut 8 to 12 percent of its global workforce in an effort to reduce costs and improve profitability. U.S. ports end box slide Criminal probe of Port of Seattle launched European shippers seek alternative to U.S. 10+2 rule USL, ANL realign services UPS tabs Asia Pacific chief NAFTA surface trade gains Record for Nehru boxes U.S. air cargo up 3.5% Profit soars at China Shipping's bulk unit Former Customs chief Bonner joins consulting firm

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JANUARY 8, 2008
CSAV revamps Pacar service USL Lines changes direction Union postpones German rail strike as pay talks resume Maersk Line's Kolding explains 'StreamLINE' strategy

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JANUARY 8, 2008
New US owner emerges South Korean shipbuilder Nok Bong pulls off a share swap with St Lawrence Energy, which will own a fleet of six products tankers. Maersk sued over death The ex-wife of a mariner who died aboard a multipurpose ship is suing Maersk Lines for wrongful death. Quintana shares surge After a TradeWinds report that Excel Maritime Carriers is buying the company, stock in Quintana Maritime heaps on price gains. YML still wants Milano Yang Ming renews charter with New York-listed Danaos for the 3,100-teu boxship YM Milano. Kolding: 'Crunch lacks punch' Declining US economy will not stand in the way of Maersk Line's fight to get back in the black, says CEO. Aker CFO quits Norwegian shipbuilder's finance chief cleans off desk and heads to Aker Kvaerner. Quintana sold? Greek listed bulker owner linked to imminent buyout by Excel Maritime Carriers. Bulker newcomer seeks cash Bahrain's Etihad Shipping plans to sell $319m of shares to buy vessels for April start-up. D'Amico takes up option Italian owner exercises right to buy MR tanker for half market value. Hijackers hoodwinked Danica White owners claim Somali kidnappers were tricked into accepting only half the $1.5m ransom demanded. STX sets aside growth cash Korean bulker and tanker owner's board approves $180m budget for tonnage acquisitions this year. Eimskip lands for good Icelandic owner sells final airline holding for $32m as it focuses on shipping. Not so bonny in Nigeria Sharp rise in piracy in fourth quarter heralds 'uncertain, sometimes dangerous, future' for shipping, report claims. 'Middle managers must go' Up to 3,000 jobs to be lost as new boss Andersen continues to ring the changes at Maersk Line. Strikes planned at Greek ports More walk-outs loom for Piraeus and Thessaloniki in protest at privatisation plans. Star joins Kai Tak bidders Shipowner joins forces with Hong Kong's largest property developer in bid for cruise terminal project. Zipponi floats yard tie-up Italian politican proposes merger of Fincantieri and Aker Yards to see off predatory interest from Korea's STX. Sole bidder needs more time KG Maritime wants to make sure of Bulgarian owner Navibulgar's finances before making binding bid. Boxship attacked in Nigeria Crew of Maersk-chartered vessel narrowly avoid gunfire as attack in late December comes to light. Goldman linked to Yangfan US bank reportedly considering another investment in Chinese shipbuilding industry. EDT orders in Spain Cypriot owner to build two Ulstein-designed supply ships at Astilleros de Sevilla. Chemoil stock slips Singapore-listed bulker player sees share price drop 16% following the death of founder and chief executive, Robert Chandran. GE does it again Mumbai-based shipowner continues to cash in on older tonnage with the sale of an ageing panamax bulker. And then there were two Golden Ocean sells another capesize newbuilding on order at Daehan to leave just two more at the Korean yard. Hebei Spirit bound for China Hosco VLCC to be repaired at Shanhaiguan after leaving scene of South Korea's worst oil spill.. Crew rescued by USCG US helicopters lift seven to safety from listing cargoship off Dominican Republic.

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JANUARY 8, 2008
Fuel tops Miyahara's list of NYK's "problems" U.S. Lines, ANL cutting transpacific leg PIL, PSA Singapore sign joint venture agreement Australia seeks to boost domestic fleet share of domestic shipping Isabella moves to Port Manatee UPS simplifies air freight product selection American's cargo down for December, full year Issues abound as Indian leader visits China First Industrial, Calif. teachers' pension join in logistics venture Maersk Logistics to be more independent USDA proposes change to temperature rules for live animal transport USDA steps up controls on imports of Armenian pork Wash. state lawmaker wants to merge Seattle, Tacoma, Everett ports

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JANUARY 8, 2008
Maersk Line to lay off 3,000 employees The new strategy to gain profit in A. P. Møller-Mærsk liner service arm Maersk Line includes a lay off of around 3,000 of the present 25,000 employees. The other main elements are: To fill up with ships with profitable ... Shortage of Norwegian seamen may force vessels into layup A desperate shortage of qualified Norwegian seamen may force offshore newbuldings into lay-up, according to managing director Johan Rokstad of 'stensj' Rederi in Haugesund. He tells Stavanger Aftenblad that it is a tough struggle to find people to man ... Swedish report suggests: Pilot compulsory for black-flagged vessels and pilotage from shore A government appointed inquiry has filed a part report on pilotage with the Swedish minister of infrastructure 'sa Torstenson. The report focuses on safety and efficiency and among the proposals is a trial scheme with shore-based pilotage initially in ...

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JANUARY 8, 2008
IMO 'must move quickly' on emissions US group says international regulations on bunker fuel and exhaust gases must be 'rapid and effective'. Uruguay company welcomes bunker barge back Two bunker tankers again available to supplier following upgrade. Turkish bunker market to maintain two grades of MGO Both 0.1% and 0.2% sulphur product offered in Istanbul as ships calling the port likely to require both. Chemoil shares take blow after CEO death Company stresses that operations will not be disrupted, new terminals in Singapore and Fujairah on schedule. NYK to cut sailing speeds President says Group must 'wring the cleaning cloth dry' to save on bunker costs. Rotterdam bids/offers wide apart Helios Terminal launch event postponed Chemoil postpones opening out of respect for Executive Chairman and CEO Mr Robert V Chandran. Chemoil and bunker industry lose a champion Robert V. Chandran was a true entrepreneur and a champion of the independent bunker supplier.