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Shipping News

Star Shipping to split ops into two companies
The two partners of industrial shipping company Star Shipping have agreed on a new structure, with Singapore-based partner Masterbulk continuing to build its business here while the other partner, Grieg Group, will continue the Star Shipping name while moving the bulk of its part of operations to Norway.
Daewoo unit investing 46b won in oil tanker JV
Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipyard operator, said that it will invest 46 billion won (S$60 million) in a South Korean shipping venture to buy more oil tankers.
French port strikes costing refiners up to 20m euros
Rotating strikes at French ports, which have disrupted crude supply for almost three months, have cost the country's refineries as much as 20 million euros (S$42.5 million) in additional transport and production costs, a trade group said.

Strait Talk

Check other Philippine inter-island ferries too
IT NOW looks like more than 800 people died in last Saturday's sinking of the Philippine inter-island ferry Princess of the Stars. There is confusion about the number on board when the ship capsized in heavy seas during Typhoon Fengshen.

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Shipping News

Star Shipping to split ops into two companies
The two partners of industrial shipping company Star Shipping have agreed on a new structure, with Singapore-based partner Masterbulk continuing to build its business here while the other partner, Grieg Group, will continue the Star Shipping name while moving the bulk of its part of operations to Norway.
Daewoo unit investing 46b won in oil tanker JV
Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipyard operator, said that it will invest 46 billion won (S$60 million) in a South Korean shipping venture to buy more oil tankers.
French port strikes costing refiners up to 20m euros
Rotating strikes at French ports, which have disrupted crude supply for almost three months, have cost the country's refineries as much as 20 million euros (S$42.5 million) in additional transport and production costs, a trade group said.

Strait Talk

Check other Philippine inter-island ferries too
IT NOW looks like more than 800 people died in last Saturday's sinking of the Philippine inter-island ferry Princess of the Stars. There is confusion about the number on board when the ship capsized in heavy seas during Typhoon Fengshen.

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NOL appears as front-runner in bid for Hapag-Lloyd World Economic Forum ranks HK, Singapore best for trade MSC mull purchase of Italy's Tirrenia short sea shipping line CSAV Norasia to start new shuttle to East Mediterranean Area Optimism high for securing US west coast longshore deal by July 1 Trucking association chief warns climate change policy will hurt industry United to lay off 950 pilots, ground 100 planes in capacity cut United, Continental Airlines seek anti-trust immunity to cooperate in JVs Online booking comes to airfreight as reverse auction system Aeroflot group invest heavily in new aircraft

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Growing box availability prompts Brazil to containerise sugar exports Definite shift seen Move to boost trade with Myanmar ICTPL starts operations at Mumbai Port's BPS terminal VPT's LPG cavern facility saves vessels $ 40/tonne in freight costs First-ever export cargo of bio-diesel effected from Kakinada port Sunken barge blocks channel near Kolkata Port KoPT handles highest number of vessels among Major Ports in 2007-08 Safexpress aims to double earnings by 2010 Gati gets going to operationalise Nagpur hub in 2009 Allcargo & Tulsidas Khimji to continue alliance at ICD-Pithampuxr India to continue playing key role in curbing 'blood diamonds' trade State-specific SEZ law on anvil Exports posted 23 pc jump in 2007-08-RBI

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JUNE 24, 2008
Wilh. Wilhelmsen to reflag fleet from Norway to Malta MK Airlines in the air again DSV acquires ABX Logistics

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JUNE 24, 2008
Palm oil tanker hijacked, recovered More survivors found from Princess of the Stars DNV "tops Paris MOU list" ACM buys Harris & Dixon Speculation mounts over NOL and Hapag Lloyd

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JUNE 24, 2008
Marcon brokers crewboat sale Maersk mega order worth $1.6 billion to Hyundai

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JUNE 24, 2008
Focus turns to ferry disaster probe FILIPINO authorities want detailed inquiry as hope of finding more survivors from capsized vessel fades. Asian shipyards in fuel-efficiency race RISING oil costs prompt yards to unveil fuel efficiency innovations based on propeller design.

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JUNE 24, 2008
New US security bill emerges NEW JERSEY Senators Frank Lautenberg and Robert Menendez have introduced a new bill to create minimum US port security standards India slates IMO over Rezzak India has slammed the IMO, claiming a total failure of its safety mechanism led to the loss of Panamanian vessel Rezzak and its 25 Indian crew members in the Black Sea on 18 February Malaysia minister on fuel costs MALAYSIA was today urged to adopt innovative measures to confront the challenges of high bunker prices

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JUNE 24, 2008
ANL-USL joins N. America-Oceania VSA CMA CGM unit joins Hamburg Sud, Hapag-Lloyd, and Maersk in trade between U.S. West Coast and Aus./New Zealand. Maersk orders 18 vessels to support Africa service Environmental review set for LA port rail transfer center US confirms anti-dumping duties on Chinese steel Comment period extended for LA China Shipping project Predevelopment agreement for North Carolina terminal Pacer retools intermodal US, Malaysia resume trade talks LNG venture for "K" Line TIACA appoints Presti as Washington lobbyist Nehru to double capacity

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JUNE 24, 2008
Maersk orders 18 eco-ships from HHI for Africa DSV acquires ABX in 'perfect match' unification Intra-Asia trades to reach 50 million TEU in 2013 Oceania VSA, ANL-USL join forces Maiden call for Yang Ming's YM Uberty at Hamburg

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JUNE 24, 2008
Bethel keeps seat American Maritime Officers president retains seat in replay of union election. Reaction mixed Rio Tinto and BHP Billiton both sign onto 80%-97% price increase with key Chinese steelmaker, but dry-bulk outlook split. Maersk buys 18 World's largest containership owner ends its newbuilding drought with huge order at Hyundai Heavy Industries. $1.7bn driller deal US driller Transocean pens agreement with Brazil's Petrobras to lease, charter back and eventually buy a newbuilding. Stop! Union urges Italian government to halt sale of Fincantieri stake after STX moves for Aker Yards. Feeding Levant CSAV Norasia launches a new feeder service between Egypt, Turkey, Syria and Lebanon. ACM shares fall Shares in AIM-listed broker slide over 8% day after it acquires compatriot and releases results. Varna spill Clean-up begins after oil leaks into Black Sea during refuelling of Navibulgar bulker. Navios bags brace Angeliki Frangou-led company splashes out over $150m for two handymax units. Lauritzen pens six Chinese yard makes gas debut as Dane Lauritzen Kosan signs for a sextet of 3,700-cbm units. Fuel hike hula Horizon Lines raises fuel surcharge for Hawaii, mimicking move by Matson. Low-sulphur pact OSG America and Tesoro Maritime agree to use 3% sulphur fuel on four handysize products tankers. Rezzak rage India says IMO failed over ship's disappearance in Black Sea in February and calls for search. Sulpicio stymied Philippines owner puts second-hand ship deals on hold following Princess of the Stars disaster. Pac basin cut Expected fall in vessel prices leads analyst to slice Richard Hext-led firm's target price ' but quarterly figures are on track. Samsung haunted Hebei Spirit ghost stings shipbuilder's stock following court ruling yesterday. Ofer steps in Shipping's number one philanthropist comes up with '3.3m to save Cutty Sark restoration project. More for Daewoo South Korean yard group reaches 50% holding in shipowning venture with KLC, promising more cash for new VLCCs. Sideways move Channel Islands shipowner shifting mainland base along UK coast to Southampton. Johan takes chair Jo Tankers has a new managing director as Johan Odvar Odfjell becomes chairman. Total liable French oil company can be held liable for Erika clean-up costs, European Court of Justice says. K Line flexes Japanese giant taking 15% stake in floating liquefaction project Flex LNG through private placement. Sea sickness Suspected norovirus outbreak on Holland America cruiseship leaves 112 passengers ill in Alaska. No sign of life Initial dives to capsized Princess of the Stars reveal floating bodies but no survivors in hull. Posco needs help Korean steel producer taps up SK Group to make joint bid for Daewoo Shipbuilding. Seadrill short John Fredriksen-controlled drilling company adds only 1.1% to Scorpion holding as time runs out on offer period. TBS adds another US-listed bulker owner takes fleet to 46 ships with handysize purchase. Tsakos teams-up Greek owner plans bulker joint venture with domestic soybean and grain company. Another drip... John Fredriksen's Seadrill snaps more shares in Malaysia's SapuraCrest. Intra-Asian rejig Hong Kong container line to combine Jakarta and Penang feeder services. Deeper Delaware Delaware River set for a long-awaited, $379m dredging project to deepen access to ports, including Philadelphia.

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JUNE 24, 2008
Bill would raise stakes on mandatory cargo monitoring Maersk in bumper 4,500-TEU vessel order CMA CGM carriers to join U.S./Oceania VSA TBS acquires 46th ship OOCL creating new Indonesia/Malaysia service UPS lowers 2nd quarter earnings per share guidance BA World Cargo raises fuel surcharge Lakers say they are hampered by shallow water U.S. Army's Dunwoody nominated to four-star general Sherman joins Venable in Washington NCBFAA president: Eliminate published tariffs for NVOCCs GreenCarrier buys Finnish forwarder FCS Logistics SoCal ports truck plan moves forward, lawsuit imminent Tacoma port pulls plug on Maytown logistics center Tacoma port approves first contract for Blair-Hylebos development Vessel "sock-on-a-stack" emission filter tested

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Price rise on ship steel The world's fourth largest steel producer, South Korea's POSCO, has according to Reuters decided to compensate higher raw material prices by increased prices on steel products. The price for ship plates will be raised by 17 per cent to KRW ... Hebei Spirit crew cleared of all charges Two South Korean tug captains have been jailed for the part they played in the accident when the anchored VLCC Hebei Spirit, 269,605 DWT, collided with a crane-carrying barge on 7 December 2007 southwest of Seoul. The collision led ... Dane honoured by IMO The Council at IMO has given the International Maritime Prize for 2007 to the Danish J'rgen Rasmussen. He has been awarded the prize for his long-term work in several IMO committees over the years. He is especially appreciated for ...

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JUNE 24, 2008
Fuel prices, not biofuels 'to blame for food crisis' Agricultural representative believes biofuels not the reason behind rising food prices. Ships 'wasting millions of barrels of oil' Global industry consuming oil unnecessarily by not using fuel saving technologies. Fuel leaking from wrecked ferry Reports from the Philippines say major bunker spill 'would take years to clean up'. Russian fuel oil export duties up again Russian bunker suppliers use tax exemption to undercut regional rivals. Global bunker market report Bunkering suspended in Hong Kong China's coastal provinces braced for high winds. Vessels advised to return to port. Bunker spill in Varna Bulgarian officials say oil was leaked during bunkering operations. ARA: Some suppliers fully booked Asian bunker prices firming 380 cst product in Busan was pegged at a record $711 pmt on Tuesday. Chinese supplier gaining Hong Kong listing Shenzhen's monopoly bunker supplier entering stock market through acquisition deal. Trader joins Bomin Oil India in senior role New employee to be responsible for the development of Bominflot Group's presence in the Indian market. Clipper fined for oil dumping Company pleads guilty, but blames manning crew for the incident. Hyundai to reduce July bunker output The South Korean refiner may also extend cuts into August. No demand to justify more supply, OPEC says OPEC president rejects calls for higher oil output as demand is 'not there'. ExxonMobil sells mid-July cargo The high-viscosity cargo would likely be blended into 380 cst grade for the bunker market, traders say. Freight rates expected to remain high until 2012 Rising bunker fuel prices and tight availability of bulk carriers would contribute to firm rates. Japan to help fishing firms hit by high oil prices The government may increase funding for fishermen.