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Yangzijiang doubles Q2 profit to 338.2m yuan
China-based Yangzijiang Shipbuilding more than doubled its second-quarter profit to 338.2 million yuan (S$69.4 million) from 145.9 million yuan, as revenue tripled to 1.77 billion yuan from 507.3 million yuan.
Tax relief wanted for transport operators
The Malaysia Fruit Exporters Association (MFEA) has proposed double taxation relief be given to local and foreign carriers and shipping lines, the national news agency Bernama reported on Monday.
Is UPS talking to TNT or is it just another rumour?
In the world of package companies, there is one story you can rely on to come up with mind-numbing regularity: speculation that either United Parcel Service Inc or FedEx Corp are in talks to buy TNT NV.

Strait Talk

Unilateral action on emissions levy
OPPOSITION by UK-based Greek shipowners to a proposed levy on CO2 emissions from ships has caused controversy and provoked a reaction that should sound warning bells to Asian owners.

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Shipping News

Yangzijiang doubles Q2 profit to 338.2m yuan
China-based Yangzijiang Shipbuilding more than doubled its second-quarter profit to 338.2 million yuan (S$69.4 million) from 145.9 million yuan, as revenue tripled to 1.77 billion yuan from 507.3 million yuan.
Tax relief wanted for transport operators
The Malaysia Fruit Exporters Association (MFEA) has proposed double taxation relief be given to local and foreign carriers and shipping lines, the national news agency Bernama reported on Monday.
Is UPS talking to TNT or is it just another rumour?
In the world of package companies, there is one story you can rely on to come up with mind-numbing regularity: speculation that either United Parcel Service Inc or FedEx Corp are in talks to buy TNT NV.

Strait Talk

Unilateral action on emissions levy
OPPOSITION by UK-based Greek shipowners to a proposed levy on CO2 emissions from ships has caused controversy and provoked a reaction that should sound warning bells to Asian owners.

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Yangtze River overhauls waterways to ease transport pressure Two-day strike creates long delays at Cochin Port Guangxi to build trunk channel connecting the southwest china and PRD Chongqing first half foreign trade focuses on EU, Japan India's SCI ships iron ore in containers to cut losses Four bids in for Tallinn's new Muuga CT to serve China-Baltic trade US domestic container loadings rise of 8.1pc offset import decline Hactl sees July's air cargo tonnage slip 0.6pc Boeing sees strong air cargo traffic growth until 2027 Singapore-Malta reach open skies deal SriLankan Airlines air cargo solution with SkyChain US congressional committee to probe US$1 billion UPS-DHL pact

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Hayleys Advantis' international logistics network expands in India Alltime Shipping opens account at ICD-Dashrath Volvo Ocean run to conduct eco tests Freight forwarders take baton ahead at FIATA-UNESCAP meetings Oilmeal exports make a splash in July MMTC floats tender for pulses India-Europe trade deal likely by mid-2009 Port workers getting dues on Aug. 18 Conference on ports and environment to be held in Amsterdam on Dec. 1, 2 Rlys hauls 9.42 pc more cargo in July SSIs' share in manufacturing falls by 10 pc as large units opt for cheaper imported inputs eGoM retains 5,000 ha ceiling on SEZ area Americans coming on business WTO talks failure blamed on political divide

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AUGUST 12, 2008
Logwin AG: Hrazdira leaves executive committee and board NOL invited to participate in next bidding round for Hapag-Lloyd AF-KLM announce decline in traffic Hupac boosts volumes in H1/2008 Röhlig establishes new national subsidiary in Denmark University of St Gallen logistics management event on 16 September

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AUGUST 12, 2008
More attacks off Somalia Monarch of the Seas gas injury claim African coastguard network deal Canadian yard has six months to find more cash

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AUGUST 12, 2008
Last coal-burner under repair Republicans up pressure on offshore drilling American cadets to sail on Hapag-Lloyd ships Aker Philadelphia Shipyard reports profit Coast Guard special unit gets river rolling again

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Star Cruises cuts losses after Norwegian Cruise Lines disposal THE COMPANY cut its first half net loss to $49.6m, down from a net loss of $56m in the same period last year. Star Cruises shareholder bleeds from stake sale China Shipping Development sees 44% surge in H1 profit STRONG demand for dry bulk and oil transport

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AUGUST 12, 2008
NCL weighs down Star STAR Cruises reported heavy losses for the first half as its remaining half share of Norwegian Cruise Line continued to drag results STX wins key shares in Aker Yards KOREA'S STX International got traction today in its attempt to take over Norway's Aker Yards when three company officials sold large holdings USS losses mean shuffled bosses LONGTIME US Shipping Partners boss Paul Gridley is stepping down as losses mount for the troubled Jones Act operator of barges and tankers

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AUGUST 12, 2008
Container ship charter market slumps The yearlong slide in rates is accelerating as trade on key routes weakens and demand for capacity slows. New ship joins Hanjin fleet Lufthansa Cargo adds Toronto flight Customs Update: Where's the leadership? Obituary: AMO's Charles Crangle, 71 Menlo to manage new Kettle Foods warehouse Trade deficit shrinks Consolidated Chassis Management names M&R director China Shipping Development profit jumps UP makes management changes BA, AA seek to form trans-Atlantic giant

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AUGUST 12, 2008
Vancouver box volume climbs 4% Kalmar boosts River Plate coverage Lamy visiting India to save Doha talks HMM's operating profit soars by 182% GOCL appoints Broekman

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AUGUST 12, 2008
Ultra revenue rise Felipe Menendez-led Ultrapetrol posts record second-quarter revenue and a surge in profits. Thumbs up Marathon Acquisition shareholders approve merger deal to take over CMA CGM's Global Ship Lease. OSG getting gas? Morten Arntzen-led tanker giant said to be front runner as BW Gas board meets to discuss possible fleet sale. Allianz alliance Top insurance group combines marine operations to create team player with 9% share of world market. Tanker's boost Analyst increases OceanFreight's earnings estimate after vessel buy, but lowers her stock price target on fleet age. Surge follows loss US Shipping Partners stock jumps more than 30% after reporting a second-quarter loss. K-Sea refines US tank-barge player releases more precise earnings showing a 68% rise in profits. Salvage ops end Web TV footage captures the salvage of a barge that spilled fuel oil in the Mississippi River. Quantum collared Bulker operated by Greece's Pendulum Shipping detained twice in US, once for suspected overboard oil discharge. CSDC powers on China's energy demand fires owner's first half profit, but tougher times lie ahead, chairman Li Shaode says. Barging out Once a 15% stakeholder, Fidelity Investments reports less than 3% holding in American Commercial Lines. LNG loss widens Houston-based terminal developer Cheniere Energy posts more than $132m in quarterly losses but grabs financing to stay afloat. Star still falls Hong Kong-listed Star Cruises slumps to first-half loss but disposal nets much-needed cash gain. Aker exodus Chairman Svein Sivertsen leads from the front as shipbuilder's top brass sell shares to STX. Nice one, son Brazilian group Wilson, Sons sees second quarter profit jumps 178% following improved offshore and towage showing. Royal gets cash Cruise giant bags $625m loan to pay for first of three Solstice-class newbuildings. High or dry Shrinking AHTS spot market unable to sustain peaks of last summer, brokers warn. Bulk lifts Courage High dry-bulk rates and effective cost cutting measures send profit soaring at Hong Kong's Courage Marine. Fillip for Philly Aker Philadelphia Shipyard sneaks into the black in the second quarter as revenue rises. IHI expects less Japanese shipbuilder returns to profit in first quarter but braces for weak second period. 'Keep it Korean' National defence interests key to keeping DSME in home hands, top Korean regulator says. Namura grows Japanese shipbuilder posts strong first quarter but next period set to produce a massive reverse. Up against it Canada's Davie Yards needs fresh cash within six moths to continue as a going concern. Naikai soars Strong first quarter for Japanese shipbuilder but coming periods set to be much tougher. Safe start Higher rates help newly listed Safe Bulkers to 28% increase in second quarter profits Utilisation boon US-listed OceanFreight's high utilisation rate pushes bulker owner's profits past expectations. Uncle sells Tamara George Economou sells an aframax tanker to OceanFreight, run by his nephew.

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AUGUST 12, 2008
West, Central Africa states agree to form coastguard network Hanjin takes delivery of fourth 4,300-TEU vessel Hapag-Lloyd ships will provide sea training to U.S. cadets Lufthansa Cargo to resume Canada freighter calls Great Wall doubles U.S. weekly flights deLeeuw named AirNet CFO Russia to lease North Korean rail track for Europe-East Asia link CBP urged to consider account-based "10+2" filing House to examine UPS-DHL pact JDA to purchase i2 Technologies EPA to launch retail-specific sustainability portal ASM head wants EU flexibility over Customs changes DGX opens Jakarta office 18 companies interested in new Nhava Sheva terminal Kalmar to buy its South American dealer ESTP

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AUGUST 12, 2008
War threatens oil supply The Georigan ports Supsa and Batumi that handles Caspian crude are operating at reduced levels as a result of the conflict between Georgia and Russia. Georgia also claims that Russia has attacked the world's next longest oil pipeline, BTC (Baku ... Row over Hapag-Lloyd sale escalates According to German media reports, the board of TUI has sent a letter to John Fredriksen, one of its major share-holders, with a threat to sue Fredriksen if he goes to court to stop the sale of Hapag-Lloyd ... Cook Islands newest IMO member The Cook Islands, consisting of 15 small islands in the South Pacific Ocean off New Zealand, is the latest member of IMO. The country is thus the 168th member of IMO. The country has a population of 21,000. Its application ...

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AUGUST 12, 2008
Suez shortages boon for Jeddah Suppliers selling out quickly as demand increases. Global bunker market report 'No prospects' for Suez replenishment Fuel oil supply has dried up but enquiries continue to come in. Rotterdam prices continue to slide Key bunker grade down over 20% since July peak. Profit soars at Courage Marine Strong dry bulk market boosts financial result despite 44% rise in cost attributed to bunker expenses. Rotterdam barges tight for prompt Singapore supplier welcomes new trader Singapore prices dive 10% But bunker demand remains weak as buyers await further drop in prices. Oil prices unlikely to fall below $100: Survey Oil has declined by nearly $33, or 23%, over the past month.