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Shipping News

A year of feast and famine
A YEAR of feast and famine is how most in the industry would describe the shipping sector's fortunes for 2008. The year began on a high with the global economy seemingly powering ahead despite some clouds gathering as a result of the then nascent sub-prime crisis. Container rates recovered to a decent level although the lines' fortunes were overshadowed by the spectre of record high oil prices. The dry bulk segment saw an unprecedented run of phenomenal rates driven by strong commodities demand from China. The benchmark Baltic Dry Index (BDI) began the year just coming off a record high of around 11,000 points towards the end of 2007 but still at 9,000 points, more than twice the previous year's level.
Luxury yachtmaker Riva banks on Asian growth
LUXURY yachtmaker Riva expects to grow its sales in Asia from 10 per cent of total volume currently to 25 per cent by 2012.
MPA postpones extra port dues for bunker tankers
THE Maritime and Port Authority (MPA) is pushing back by a year its original schedule to introduce additional annual port dues for bunker tankers that are 16 years old and above that it had planned to introduce on Jan 1.
Rally against Samsung over oil spill
Bunkering sector senses tough times but will stay ahead
Singapore COE premiums may not remain low for long
Mass transit takes back seat as US states focus on roads

Strait Talk

Adieu to an awful 2008
LOOKING back over a year is always a bit tricky. You tend to forget what happened early on while still current events crowd in. And this year, perhaps more than most, a depressing series of news stories has crossed my desk as the year draws to a close. Company failures, service cuts, vessel lay-ups, rock-bottom freight rates - all the signs of a deepening downturn.

web site

Shipping News

A year of feast and famine
A YEAR of feast and famine is how most in the industry would describe the shipping sector's fortunes for 2008. The year began on a high with the global economy seemingly powering ahead despite some clouds gathering as a result of the then nascent sub-prime crisis. Container rates recovered to a decent level although the lines' fortunes were overshadowed by the spectre of record high oil prices. The dry bulk segment saw an unprecedented run of phenomenal rates driven by strong commodities demand from China. The benchmark Baltic Dry Index (BDI) began the year just coming off a record high of around 11,000 points towards the end of 2007 but still at 9,000 points, more than twice the previous year's level.
Luxury yachtmaker Riva banks on Asian growth
LUXURY yachtmaker Riva expects to grow its sales in Asia from 10 per cent of total volume currently to 25 per cent by 2012.
MPA postpones extra port dues for bunker tankers
THE Maritime and Port Authority (MPA) is pushing back by a year its original schedule to introduce additional annual port dues for bunker tankers that are 16 years old and above that it had planned to introduce on Jan 1.
Rally against Samsung over oil spill
Bunkering sector senses tough times but will stay ahead
Singapore COE premiums may not remain low for long
Mass transit takes back seat as US states focus on roads

Strait Talk

Adieu to an awful 2008
LOOKING back over a year is always a bit tricky. You tend to forget what happened early on while still current events crowd in. And this year, perhaps more than most, a depressing series of news stories has crossed my desk as the year draws to a close. Company failures, service cuts, vessel lay-ups, rock-bottom freight rates - all the signs of a deepening downturn.

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Shanghai's boxes up 8.1pc up in first 11 months, up 1.8pc in Nov Collapsing crane claims life of operator in Singapore World's biggest box ship calls at CCT in Shenzhen Port Cosco sees cross-strait ties bringing raft of new services Maersk to call weekly at new Mobile CT in southern US Charter rates collapse as services are cut, pooled and ships lay up US Army tests no-fuss, no muss global reefer box monitor India's Teledata launches Transport Manager software in Singapore Tampa to spend US$19 million on dredging, $8 million on CT expansion Falcon is first US certified cargo screening facility World Cargo Alliance sets up perishable carriers group Russia's Aeroflot and Czech Airlines expand codeshare

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Sahil Freight moves another ODC shipment to Iraq UASC combines AEC1 and AEC2 services into AEC1 Spices exports earn 15 pc more during April-Nov. 2 new quay cranes arrive at GTI DRDO against setting up of port in Balasore dist Trailer operators servicing Chennai Port call off strike Shippers, CHAs, transporters cite problems at empty container yards Outsourcing of third-party logistics services set for big push-Assocham study CCEA approves upward revision of highway project costs Nagpur's investment potential to be highlighted at investor summit Cement prices set to fall by Rs 7-12 a bag IT, retail sectors set to post 10-20 pc growth in 2008-09, says Ficci India ranked 71st in global Enabling Trade Index Govt urged not to reimpose duty on crude palm oil Release order mechanism for sugar exports returns A. Sakthivel elected President, S. K. Saraf Vice-President of Fieo

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DECEMBER 30, 2008
T&T Bisso salvages Miss Janice Layoffs at Erie Shipbuilding COSCO yard pushes back bulker deliveries

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DECEMBER 30, 2008
Cosco warns on profits as owners defer payments SINGAPORE-listed Cosco Corp issues profit warning as owners ask to defer payments. Angry market punishes Cosco Corp Singamas to decide on fate of Indonesian factory CONTAINER maker to decide in second half of next year whether to re-open its Surabaya operations. Salvors battle to free Fedra's bow WORK under way to free the bow section of the Greek-operated bulk carrier.

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DECEMBER 30, 2008
Evergreen slashes US agencies Container line Evergreen will cut staff and consolidate its US-based agency offices in response to the financial crisis and its own capacity reductions New cruise 'media circus' YET another 'passenger overboard' incident has engulfed the cruise sector, following a Christmas night disappearance from NCL's Norwegian Pearl Hostage supplies running short PIRACY hostages are facing imminent shortages of fuel, food and water, according to Andrew Mwangura of the Kenya Seafarer's Assistance Programme Pirate attacks thwarted THE German Navy disrupted a pirate attack on the Egyptian bulker Wadi Al Arab on 25 December, a week after an armed yacht deterred a separate attack in the Gulf of Aden Hanwha gets funding extension THE Korean Development Bank (KDB) has given Hanwha another month to raise urgently needed funds to secure its majority stake in Daewoo Rogue wave batters tanker THREE Indian crew members aboard the chemical tanker Bum Chin were injured by a rogue wave off Adak Island, Alaska on 27 December China coal trade plummets CHINESE coal exports and imports are both falling, according to new figures released by the Chinese Bureau of Customs

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DECEMBER 30, 2008
Evergreen restructuring US operations U.S. agents for Evergreen Marine will consolidate some North America offices and reduce staff amid shipping downturn Marine Highways delayed Vancouver work stoppage averted, new talks scheduled No settlement in union turf war at Port of Oakland New US checks could delay Canada produce imports Port of Miami solicits stevedoring applications Malaysian ship hijacked Global airfreight declines Rotterdam TEUs flat Chennai strike ends Stefflre new IANA chairman

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DECEMBER 30, 2008
Charleston fights to keep Maersk UASC combines Asia - Europe services Westwood sale pulled Extended talks avert strike at British Columbia ports Shushary off-dock terminal wins customs approval

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DECEMBER 30, 2008
Stocks head up StealthGas leads US-listed shipping stocks in a Tuesday rally as federal government aid lifts markets. Pearl suicide? Woman whose fall overboard from the Norwegian Pearl sparked a search may have taken her own life. Delays hurt Cosco Shipbuilder Cosco Corp (Singapore) warns of lower annual profit as owners delay newbuilding deliveries. Master faces trial The Polish master is facing trial in Colombia over allegations of throwing stowaways overboard. CGG eyes more After voluntary offer nets a 69.7% stake in Wavefield, Robert Brunck-led CGGVeritas launches its mandatory offer for the rest. Take a bow Florida salvor Titan Salvage is working to re-float the bow of the wrecked bulker Fedra of Gibraltar. LNG all clear Detention order lifted for LNG carrier Suez Matthew, which lost propulsion off Boston. Seven tripped up Two owners put off delivery of supramaxes from Cosco Zhoushan, in one case for over two years. New Year change Japanese giant NYK Line sets up emergency committee to re-jig strategy in face of "two-year" economic downturn. Japan to act Leading naval officers from Japan to hook up with US-led group to combat piracy off Somalia. Crewman airlifted US Coast Guard comes to a mariner's aid off Michigan after he passes out in the engine room. NSCSA on course Saudi Arabian tanker owner presses ahead with ambitious expansion plan despite financial storm. Silver lining Lay-ups to offset crew lay-offs as Philippines promotes Subic Bay as ideal parking site. 'No need for cash' Jiangsu Rongsheng chief Chen Qiang denies axing drydock and says Hong Kong listing still on the agenda. Technocean raises GC Rieber subsea subsidiary nets $5m in private placement and changes chief executive. Bulker bash in US "Allision" between Sanko-owned vessel and fuel facility causes "significant damage", USCG says. Gaza boat bashed Vessel carrying aid supplies and doctors to bombed region close to sinking after Israeli ramming. Back in business Ravi Mehrotra's Foresight Group relaunches cruise arm Indian Ocean Cruises in deal with Thomas Cook. STX sells off South Korean shipowner sells out of compatriot company in bid to raise cash during bulker slump. Aake in at Jebsens Gregertsen calls time at Star Shipping in preference for managing director's role at Bergen owner. Asians team up PIL and Wan Hai ditch Black Sea service in favour of teaming up with K Line, Yang Ming and CSCL. Sonatrach ships in Algerian state energy company delivers its third gas cargo to UK's Grain LNG terminal.

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DECEMBER 30, 2008
TSA members seek authority to discuss capacity UASC combines another two services Weyerhaeser calls off sale of Westwood Shipping Evergreen starts combined Arabian Express Service U.S. Coast Guard clears LNG ship Chinese warships en route to Gulf of Aden Asian air freight down 15.5 percent in November Stefflre elected IANA chairman Feds process 1 millionth hazmat endorsement U.S. ag inspections up on northern border USDA allocates $100 million to McGovern-Dole food aid program DGX opens facility in Manila Pilot names Achackzad executive VP State funds suspended for SoCal ports truck program Vancouver, B.C. port faces second strike threat Rotterdam had record 2008 despite poor fourth quarter Antwerp reports record volumes in 2008

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DECEMBER 30, 2008
Bunker prices mixed in Europe Crude oil weakening again in thin trading. Downturn will 'last years' NYK Line to review its shipping strategy. Petrobras: Nominations close Tuesday afternoon Bunker prices mixed Singapore and Hong Kong prices firmed slightly while Busan prices dipped. Singapore residual fuels near 10-month low Middle distillate stocks also fall. Singapore defers port dues The delay in increasing port dues will benefit more than 100 bunker tankers. 'Inconsistent' fuel supply causing problems Boat users anxious about fuel availability at South Australian marina. Oil tanker runs out of fuel Tanker stranded at Malaysian port without fuel and low on food and water. India pushes for marine fund Marine Emergency Fund would help in salvage and oil spills operations.