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Shipping News

Oil spill feared as ship sinks off English coast
A large cargo vessel carrying 5,300 tonnes of timber has sunk in heavy seas in the English Channel, raising the spectre of a significant oil spill.
Hyundai Merchant to hike capacity to Europe
Hyundai Merchant Marine Co, South Korea's second-biggest shipping line, said it will start using the country's largest container vessel to meet growing trade demand between Asia and Europe.
Bulk freight costs may fall a seventh week
Shipping costs for iron ore, coal and other commodities may extend declines for a seventh week on concern slowing economic growth may reduce demand for transport.
Fee on cargo boxes at ports in LA area to raise US$1.4b
New Viet seaport by 2020

Strait Talk

Still a cyclical business, for sure
THE extent to which the US sub-prime debt crisis will have an effect on shipping will probably not become clear for some time.

web site

Shipping News

Oil spill feared as ship sinks off English coast
A large cargo vessel carrying 5,300 tonnes of timber has sunk in heavy seas in the English Channel, raising the spectre of a significant oil spill.
Hyundai Merchant to hike capacity to Europe
Hyundai Merchant Marine Co, South Korea's second-biggest shipping line, said it will start using the country's largest container vessel to meet growing trade demand between Asia and Europe.
Bulk freight costs may fall a seventh week
Shipping costs for iron ore, coal and other commodities may extend declines for a seventh week on concern slowing economic growth may reduce demand for transport.
Fee on cargo boxes at ports in LA area to raise US$1.4b
New Viet seaport by 2020

Strait Talk

Still a cyclical business, for sure
THE extent to which the US sub-prime debt crisis will have an effect on shipping will probably not become clear for some time.

	web site

China ports post 20pc increase in container volume in 2007 LA-Long Beach harbours add new US$15 per TEU to $35 box tax Guangzhou volume exceeds 9.2 million TEU in 2007 Shanghai's trade value up 21pc to US$521 billion in 2007 Shenzhen Dachan Bay Terminal One welcomes first call Tianjin Port cooperates with Inner Mongolian Baotou city to boost trade Malaysia's PTP posts 14.5pc increase in TEU volume in 2007 Indian high court ruling puts DP World's Mundra terminal control at risk Danaos redeploys 3,100-TEU YM Milano on three-year charter Shanghai to drive All Nippon Airways cargo growth Globe Air Cargo acts for Royal Jordanian as GSA in France TIACA to hold World Cargo Forum in Atlanta in 2012

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Baltic dry freight index tumbles Industry rubs in need for duty-free import of natural rubber $ 640-m Exim Bank credit for Ethiopian sugar industry India, Oman discuss areas for $ 100-m fund investment Polish Minister keen to diversify trade ties with India DB AG to help Railways develop state-of-art freight centres MMTC invites EoIs for warehousing & logistics solutions Scope of rail wagon investment scheme likely to be expanded A journey into the future! Royal Freight Forwarders becomes 1st to get off mark at ICD-Raipur Air India Cargo hoists radar to scan new horizons Invoicing in Re. may be made mandatory EEPC awards function today

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Thomas E. Kern takes over pilot seat at Zurich airport Hamburg Süd and Maersk Line to continue ASAS/NGX service Swiss increases flights from Euroairport Kombiverkehr transported over 1,000,000 truck consignments in one year Courcan Cargo renamed Broekman Logistics India Pvt Ltd Interlaken Maritime Freight Seminar, 23-25 January 2008, Switzerland

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JANUARY 15, 2008
Heavy weather dangers Mitropoulos beats drum for flag state audit Ice Prince sinks Rickmers buys into Genoa terminal

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JANUARY 15, 2008
Great Offshore bids for control of overseas company BAE Systems to modernize guided missile cruiser Rolls-Royce evaluates nickel boron coatings

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JANUARY 15, 2008
IMO panel report sees big role for distillates EXPERT panel study says use of distillates can deliver big reductions in SOx and PM emissions with little impact on CO2 production. Bunker association clears the air Asian shipping stocks take a beating HONG KONG-listed maritime shares hardest hit as fears grow over impact of US recession. Erika defendants to learn fate tomorrow PARIS court judge to deliver verdict on those charged with responsibility for tanker's sinking.

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JANUARY 15, 2008
Operators turn backs on Nigeria MAERSK Line is pulling all its ship calls at Onne, and Bourbon suspends all activity in the Bonny area, in the face of sustained regional violence and militancy Ship prices to rise in 2008 KUALA LUMPUR 15 January ' SHIP prices will rise in 2008, said a Citi Investment Research study Illegal log shipment left at Nacala A SHIPMENT comprising 750 containers full of logs bound for China has seemingly been abandoned at Nacala port in Mozambique More booking slots for Panama Canal THE Panama Canal Authority will offer two additional booking slots to vessels of 28m beam or more for reservations made between 365 and 22 days prior to transit Bangla box boat buy blocked Swansea-Cork ferry to be revived Big rise in Chinese coal imports Bigger not better says APL LNG boost for Repsol in Peru Cruising confronts consumer pain Container rates 'must rise' Labroy to de-list and join DDW fold Novel craft is 'ferry to nowhere' Bondar to head IMarEST Australasia

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JANUARY 15, 2008
LA, Long Beach ports approve new fee Commissioners from both ports in a joint session unanimously approve a new container fee that is expected to raise $1.4 billion over the next few years. Commission calls for overhaul of U.S. transportation spending Clinton, Obama back plan for employee harbor truckers Decline seen for U.S. imports Shippers file anti-trust suit against forwarders NYK buys U.S. forwarder Export ABCs: Incoterms revision U.S. delays EU GMO complaint BBC Andino Express hikes rates France to privatize stevedoring Bulker sinks off England

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JANUARY 15, 2008
Maersk add direct Hamburg call to Morocco service Schoeller renewing AAL fleet Hapag-Lloyd 'for sale' rumours denied by TUI Court throws out Melbourne dredging challenge Vancouver sets new box record

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JANUARY 15, 2008
Prestige wreck 'stable' In its final report on the shipwreck of the Prestige, Repsol says the 13 litres of fuel leaking from the ship each day is not an environmental hazard. Bulker demand to grow Despite recent declines in the Baltic Dry Index, a panel of US analysts sees 6% to 7% growth in bulker demand. Keen on dry-bulk As stocks fall, two New York banks issue positive ratings for dry stocks, as Chinese growth is expected to endure in 2008 despite a potential US slowdown. Fund manager ups stake St Denis J Villere share in International Shipholding Corp grows to more than 28.4% of preferred stock. BDI fall to kick-start dollar A six-day drop in the Baltic Dry Index has investors running scared but one finance man feels the market softening has a silver lining. Brazil eyeing neighbour's yards Brazilian shipbuilders have been analysing potential acquisitions of yards in neighbouring Argentina. Great Offshore in mystery bid Bombay-listed player close to completing the takeover of an overseas rival, but refuses to name the target. OSG net to surge ... later Analyst hikes her first-quarter earnings forecast for the New York-based tanker owner as spot rates gives the company a boost, but her fourth-quarter forecast dims. Chinese in at Tallinn Port of Ningbo to invest in new container terminal in Estonia to push Baltic exports. Belinda towed to safety After fishing nets foul the bulker's propeller, an AHTS tows the Lady Belinda to Singapore. Court fight for ferry damages New York City prepares to defend compensation claims from passengers injured in 2003 Staten Island crash. Dry stocks slump again Heavy losses for bulker owners seen in Oslo and New York as capesizes continue to stay off the radar. Drunk captain fined Ukranian master was three times over the legal alcohol limit as he prepared to sail from the UK port of Southampton. Samudera slates supramaxes Indonesian shipowner inks 57,700-dwt twins at South Korea's STX Shipbuilding in $97.6m move. Ice Prince sinks Greek-flagged multi-purpose vessel finally succumbs to rough weather off UK's Devon coast. Alaska ferry "going nowhere" Critics of $70m ice-breaking catamaran project say federal cash is being wasted. Seoul stocks slump South Korean shipbuilders' shares slip again as declining dry-bulk rates have investors spooked. Agarwal looks east Boss of India's ABG Shipyard says east coast yard still on agenda, plus Far East acquisition. AFP wants cash quickly Oslo-listed FPSO group to sell $150m of nine-month notes to fund tanker conversions. Police break-up port protest Dock workers strike again as merchant marine minister hails new dawn for Greek ports. Labroy de-listing Acquisition by Dubai Drydocks World to take Singapore shipbuilder off the country's exchange. SuperSeaCats to be sold Two Tallinn to Helsinki Sea Containers fast ferries going to Reefer & General of Greece. Da Ji sinking claims 6 A further six still reported missing from Chinese bulk-carrier which sank off Taiwan on Monday. IHI hits retrospective red Troubled shipbuilder sees profits erased after first quarter earnings are restated. PSA handles record volumes Singapore company said 2007 volumes grew by 14.8%, as foreign facilities outpaced domestic ones. Onne too many for Maersk Danish giant suspends calls to Nigerian supply vessel port of Onne as militant attacks increase. Norfolk PCC refloated Salvors manage to pull the City of Sunderland free of sandbank off UK east coast late Monday. China Cosco on the up Cosco's bulker and boxship holding company expecting huge 2007 profit on back of dry boom. Pareto picks for 2008 Norwegian investment house names its favourite stocks with the emphasis on chemicals, bulk and LNG. Strong yen clobbers yards MES, Kawasaki, IHI and Mitsubishi all see share price fall on fears value of overseas earnings will erode. New yard for HHI Korean shipbuilder will complete facility in Gunsan in 2010 to meet rising demand. Fredriksen pockets GOGL shares Golden Ocean shareholder and other prime movers exercise options worth NOK 225m.

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JANUARY 15, 2008
Widdows: If economy slows, don't expect container rate bargains Hyundai Merchant Marine board appoints Kim as new CEO Cargo ship sinks in English Channel A.P. Moller - Maersk suspends calls at Onne, Nigeria due to security Yang Ming orders five 4,500-TEU ships from CSBC Maersk adding Hamburg to Europe/Morocco loop Inchcape promotes Pillai to Egypt general manager Cathay to add 20 flights to India by March Airbus could build freighters in Alabama U.S. truckers host Chinese delegation Kulik retires from CEVA Senator to visit Wal-Mart DC NYK Logistics (Americas) buys Texas firm Bruni International Eyford to ease First Nations Prince Rupert box terminal concerns Tacoma port issues $131 million in GO bonds COSCO Pacific sees big throughput gains for December, year World Bank puts up $72 million for Puerto Limon

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JANUARY 15, 2008
Ice Prince sank in the English Channel General cargo vessel the Ice Prince sank on Tuesday morning after having suffered a severe list since Sunday evening. The Greek flagged vessel, built in 1990 in St Petersburg, was under way to Alexandria, Egypt, with a cargo of timber ... Novoship took delivery The Russian shipping company Novoship has taken delivery of the tanker NS Lotus from Samsung Heavy Industries in South Korea. NS Lotus was the last vessel delivered in a series of four, designated to transport crude oil and other oil ...

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JANUARY 15, 2008
Chandran 'celebration of life' announced Family and Chemoil management holding San Francisco service for close friends and business associates. New system will 'streamline bunker purchases' Efficiency and risk reduction 'increasingly important to safe and successful vessel operations'. Slower sailing speeds 'cut pollution' Hapag-Lloyd official says burning less bunker fuel means cleaner shipping. Supply worries keep Fujairah prices firm Prices in the Middle East hub remain well above Singapore. Rotterdam market firm Pollution alert as vessel sinks UK authorities say counter pollution aerial surveillance is underway Lanka IOC starts new lube blending plant Sri Lankan firm says it has more than 10% market share in the supply of marine lubricants. Japan: Bunker fuel bill slides December's retroactive 180 cst bunker fuel price down from record high. Port Kembla bunkers reach new high Sources say tight availability has help drive up prices at the Australian port. Sri Lankan firms get help installing new software India's state-owned oil firm will fund the software project.