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Shipping News

Long way to rates recovery
With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops
China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.

Strait Talk

Keeping EU in check
REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).

Shipping Times

Berkshire selling 2 railroad stakes before completing new purchase
Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.

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Shipping News

Long way to rates recovery
With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops
China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.

Strait Talk

Keeping EU in check
REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).

Shipping Times

Berkshire selling 2 railroad stakes before completing new purchase
Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.

web site

Shipping News

Long way to rates recovery
With the container business downturn having bottomed out, the burning issue is now the pace and form of the recovery, says Eivind Kolding, CEO of AP Moller-Maersk Group's container business.
China asks to take lead role in anti-piracy ops
China wants to take a lead role in spearheading naval anti-piracy operations off the Somalia coast, underscoring its spreading military ambitions beyond Chinese waters, the South China Morning Post reported yesterday.

Strait Talk

Keeping EU in check
REGULAR readers of this column will know I think the shipping world should keep a close eye on the maritime ambitions of the European Commission (EC).

Shipping Times

Berkshire selling 2 railroad stakes before completing new purchase
Warren Buffett is looking to sell off his stakes in two big railroad companies, even as he recently announced a take- over of Burlington Northern Santa Fe.

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Maersk ups Asia to Mideast-Africa rate US$250/TEU December 15 Maersk applies to rejoin Transpacific Stabilisation Agreement Yield 29pc down as APL October container volumes rises 14pc Boxes pile up at Cosco Pacific's strike-plagued Greek CT CMA CGM takes delivery of 13,300 TEUer, joins Asia-Europe loop Troubled Rickmers can't take delivery of 13,300-TEUer for Hanjin Wan Hai reports quarterly loss at US$41 million Yang Ming third quarter loss at US$117 million Damco starts deep penetration Amazon barge service Panama Canal CEO urges ports to be ready for expansion Murmansk throughput up 33.9pc from January-September Air France-KLM 19pc down in October, Asia Pacific hit hardest Korean Air and Delta Airlines see recovery ahead Federal funds rescue Missouri's Midwest China Air Hub project

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Vision 2025 to unfold today Piracy pushes up insurance costs for Indian shipping cos by 20-25 pc Executives come to the 'Fore!' Logixlift handles 'copter from Mumbai Port to Baltimore Welgrow India merges with Clarion India Probe into dumping of PVC paste resin initiated Exim Club, Ahmedabad & Assocham to get familiar with Port of Antwerp tomorrow Maytas Infra to sail away from Machilipatnam port project Uphold moral values, exhorts Ajeya Kallam Air cargo industry out of turbulence? Forex reserves dropped by $1,129 million Fieo chief seeks new soft credit window for MSME sector Cheaper inputs, cost-cutting steps swell India Inc's bottomlines Group of Secretaries to handle stake sale of PSUs

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NOVEMBER 9, 2009
Crane breakdown at Zurich/Rekingen HRT The container service provider Transfracht reported the breakdown of a crane at the Zurich/Rekingen HRT (Switzerland). The repair work may last until this morning (10 November). Turkish Airlines signs firm order for three more A330-300s Turkish Airlines has signed a contract for the purchase of three additional Airbus A330-300 aircraft, due for delivery from September 2010. The new agreement brings the total numbe... Ran Logistics completes IPO in Istanbul The Turkish logistics service provider Ran Logistics has completed its initial public offering (IPO) process and was recently listed on the Istanbul Stock Exchange (ISE) in&nb... Pacer International announces new arrangements with Union Pacific Pacer International Inc, the asset-light North American freight transportation and logistics services provider, recently announced that it has entered into new arrangements with Un... Agility continues logistics buildup for Shanghai Expo 2010 With less than 200 days to go to the launch of the Shanghai Expo 2010 in China, Agility Fairs and Events is continuing its preparation for the upcoming event. The service provider&... Competition for Deutsche Bahn Deutsche Bahn, Germany's national rail service provider, is getting a rival in its own long-distance rail network. With effect from 15 August 2010, private trains will start to run... BNSF and BLET reach tentative agreement The US rail service provider BNSF has reached a tentative agreement with the Brotherhood of Locomotive Engineers and Trainmen (BLET) union to settle wage and work rule ma... Evergreen plans to order 100 new containerships The Taiwanese shipping company Evergreen Marine plans to order 100 new containerships when the market recovers. Evergreen chairman Dr Yung-fa Chang confirmed this enormous newbuild... RMS gains a foothold in Norway The German company Rhein-, Maas- und See-Schiffahrtskontor GmbH (RMS), a coastal shipping specialist that is part of the Duisburg (DE) Rhenus group, is set to start a weekly schedu... German shipowners top the table in the containership fleet The number of commercial vessels controlled by German owners has decreased to 3,281 units (2008=3,371). The country owns 7.3 % of the world's fleet and 8.4 % of the total global to... New driving restrictions in Lombardy Driving restrictions for lorries that are not environment-friendly were recently introduced in Italy's Lombardy region. The regulations apply to Euro 0, Euro 1 and Euro 2 class veh... Emirates earns more than last year Emirates, a Dubai (UAE)-headquartered international airline, is still recording success after success despite the global economic recession. The Arabian carrier reported a net prof...

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NOVEMBER 10, 2009
IBIA warns of sulphur rules confusion Container safety guide for shippers Austal's new US facility New design office in Singapore

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NOVEMBER 10, 2009
India bars entry of former S.S. Independence CMA CGM takes delivery of new flagship

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NOVEMBER 10, 2009
MOL puts gas carrier pair on 'extended delivery' Owner puts newbuildings on 'extended delivery' after failing to secure Sonatrach charters. Very few distressed asset deals done Investors wary about committing finance to distressed funds. Diana to continue fleet expansion drive Diana Shipping reports net income of $28.7m in third quarter. Appeal court asked to confirm Erika fines Advocate general asked the appeal court to re-impose the maximum '375,000 ($561,860) in fines Global Ship Lease holds firm on charter rates Boxship owner sees $3.9m third-quarter net loss but a gain of $30m in nine-month period.

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NOVEMBER 10, 2009
HSH's deputy CEO sacked THE WORLD'S largest shipping bank HSH Nordbank has sacked its deputy CEO and a fellow board member over high-risk transactions that caused more than €500M ($747.64M) in losses Pirates said to seek $3M ransom PIRATES have today reportedly demanded $3M for a ship taken off Somalia Korean firefight chills shipping NORTH and South Korean naval ships exchanged gunfire today, leading to fear that the exchange could escalate and harm commercial shipping Dong Energy faces inquiry DENMARK'S Dong Energy faces a police investigation over accusations of failing to submit information demanded by the Danish Financial Supervisory Authority, Fairplay learned today Ida shuts off Gulf oil OFFSHORE oil and gas platforms in the Gulf of Mexico were closed and more than a quarter of its natural gas production shut off as Tropical Storm Ida swept through the region today Taiwan's exports rally TAIWAN'S fall in exports is slowing, IHS Global Insight reported today

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NOVEMBER 10, 2009
Houston, Maersk Test Fuel Switching Senator Expects No Change in Rail Antitrust FedEx Establishes First All-Hybrid Facility EVA Air Cargo Launches IATA e-Freight Merchant Marine Academy Superintendent Resigns Toll Acquires Dubai's LDS ODFL Speeds Service into Canada Birdsall Acquires Deluxe Freight National Refrigerated Opens LTL Lane Lufthansa Cargo Decline Slows in October BNSF Chief Waives Compensation Clause DOT Stimulus Spending Nears $5 Billion Beaumont Dedicates Deepwater Wharf Tropical Storm Ida Touches Alabama CMA CGM Gets Giant New Boxship Diesel Falls First Time in Five Weeks Global Ship Lease Loss Triples Tyden Group Acquires E. J. Brooks

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NOVEMBER 10, 2009
APL volumes recovering; revenue still weak OOCL applies transatlantic reefer surcharge Seaspan puts faith in Chinese and Japanese charters HMM goes local in UK DSV hit by exceptional items

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NOVEMBER 10, 2009
Algoma gets loan Canada's Algoma Central lands $260m credit facility to fund newbuilding and upgrade projects. 'Difficult quarter' CGGVeritas suffers 93% loss in third-quarter profits as it reaches the end of higher margin backlog and vessel oversupply still hurts seismic market. J Ray buying? McDermott International executives mull purchasing distressed offshore vessels for its J Ray McDermott arm. Solid war chest Analysts suggest Diana Shipping could easily buy several vessels as cash balance forecasted to approach $300m. Commandments Half of orders on Novoship "10 commandments" chartering effectiveness report referred specifically to deals with Yuri Nikitin company. Twin attack Maersk and Rickmers boxships fight off armed pirate assaults, amid rumours BW Lion gang has struck again. J Ray turnaround J Ray McDermott and Secunda Maritime parent sees offshore operations flip to the black with $107m profit. Lost for words Sovcomflot corruption trial hears how large parts of a Novoship meeting agenda seemingly vanished. Antigua probes Antigua and Barbuda says it has launched an investigation into a weapons cargo on the Francop, as Israel labels matter a "war crime." Bigger is better US-listed containership owner GSL has pushed up nine-month profit thanks to its expanded fleet. Di to buy Simeon Palios says Diana Shipping will tap cash reserves to buy bulkers after Q3 figures beat Wall Street bets. Giant deal Dof AHTS secured extended stay off Brazil at a decent rate. Secure your ship Navfor Atalanta commander says ships that have been hijacked off Somalia were not taking EU advice. Sincere strong Long-term investments boost Taiwanese bulker owner in first three quarters. In a fix Political pressure forced Novoship into fixing ships to Russian charterers, Sovcomflot trial hears. Gas cruise Spain's Iberocruceros charters two cruiseships for Algerian LNG conference next year. No go India bars controversial liner Platinum II from demolition at Alang, alleging toxic material on board. Five-year glitch It will take until early 2014 to get all of the idle boxships back to work, report says. Axe hanging STX Europe warns 400 jobs could go at Turku yard next year as work nears completion on Oasis of the Seas sistership. $100m in place Eitzen Chemical passes initial target in private placement which aims to get the company back on its feet. Breached again Evangelos Pistiolis-led Top warns of possible vessel sales if its banks don't waive loan breaches for a second time. Last minute boost Roger Allard's All Leisure Group will top market expectations for the full-year with the aid of late bookings. Seaboard drops US liner and bulker group sees shipping profit eroded in first nine months, but still mulling vessel acquisitions. Turn them off! Unapproved hot lights near wheat cargo caused fire scare on Dutch cargoship off UK, probe finds. Courage still red Singapore-listed bulker operator slumps to a loss in the third quarter on weak rates and low utilisation. Captain asleep Princess Ashika inquiry hears that tragic vessel's master was left sleeping in cabin as water poured into sinking ferry. On the up Norwegian cruiseferry business Hurtigruten returns to profit in first nine-months after far-reaching restructuring. ICG falls Irish ferry and terminals group posts lower nine-month profit, but summer passenger figures encouraging. Brandsrud bonus Seadrill's outgoing CFO banks over $0.5m from sale of shares in the John Fredriksen-led firm. Volumes on the up Monthly volumes reach year high at Neptune Orient Lines, but rates still remain weak. India contract Finnish engine company Wartsila wins offshore design contract from India's Pipavav Shipyard.

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NOVEMBER 10, 2009
5 years to clear idled containerships? TSA welcomes Maersk involvement CMA CGM takes delivery of 13,300-TEU ship Singapore Air Cargo losses mount in first half EVA starts e-freight shipments Old Dominion serves Canada via Montana gateway U.S., Mexico solidify border cooperation

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NOVEMBER 10, 2009
Competition watchdog agrees with Fjord Line The decision by the Port of Kristiansand in Norway to deny Fjord Line access to the port was in breach of the EEA agreement, according to the EFTA surveillance body Esvagt lays up four ships Esvagt A/S has taken four ships out of service as a consequence of the declining offshore market in the North Sea area. The ships are now laid up at Pirates attacked oil tanker 1,000 nautical miles off Somalia Yesterday pirates attacked the Hong Kong-registered crude oil tanker BW Lion, 158.557 GT, some 400 nautical miles north east of the Seychelles and 1,000 nautical miles east of

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NOVEMBER 10, 2009
Bunker costs tumble in Q3 Norwegian operator stays in profit. Prices firming in Europe Crude futures weakening on the NYMEX in early trading. Mixed messages on the future of fuel oil Refiners 'don't know, and mostly don't care' about how to respond to changing marine fuel demands. New appointment for Chemoil Liana Pietsch will join its Athens-based sales and marketing team. Firm prices in Fujairah Durban seeing good demand, prices rising. More ships loosing power as sulphur rules tighten San Francisco port captain says ships with 'history of problems' will need tug escort. Passenger ships face 'three different sulphur rules' IBIA says players will need to exercise 'extreme vigilance' not to 'fall foul' of regulations. Steady to firm market after crude oil jump Singapore fuel oil prices unchanged despite Monday's firm crude close. Sri Lanka supplier 'inflating' bunker prices Ceases bunkering joint venture following allegations. Singapore storage 'not fully optimised' Potential for bunker sector to expand.