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Shipping News

Energy holds out hope for breakbulk sector
THE breakbulk sector is taking a hit from the bad current economic conditions but to some extent it is countercyclical and insulated from the financial crisis as governments pump in money to invest in infrastructure and oil and gas companies continue to invest despite weak crude prices.
Time to turn Singapore into a 'super' maritime cluster
WHAT comes next for an international maritime centre like Singapore? The answer is simple, says Professor Torger Reeve of the BI Norwegian School of Management: Singapore must aspire to become a 'super' maritime cluster.
Newcastle coal exports down 25%
Coal exports from Australia's Newcastle port fell 25 per cent from the previous week, while vessel arrivals also slipped, suggesting softer demand for the fuel.
Baltic Index signals rise in commodity currencies
Lines starting to see trade flow again
Liners take drastic steps to ride out economic storm

Strait Talk

Just a few straws blowing in an ill wind
THEY say it is an ill wind indeed that blows nobody any good. There certainly has been a lot of gloomy news coming across my desk over the past week or so.

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Shipping News

Energy holds out hope for breakbulk sector
THE breakbulk sector is taking a hit from the bad current economic conditions but to some extent it is countercyclical and insulated from the financial crisis as governments pump in money to invest in infrastructure and oil and gas companies continue to invest despite weak crude prices.
Time to turn Singapore into a 'super' maritime cluster
WHAT comes next for an international maritime centre like Singapore? The answer is simple, says Professor Torger Reeve of the BI Norwegian School of Management: Singapore must aspire to become a 'super' maritime cluster.
Newcastle coal exports down 25%
Coal exports from Australia's Newcastle port fell 25 per cent from the previous week, while vessel arrivals also slipped, suggesting softer demand for the fuel.
Baltic Index signals rise in commodity currencies
Lines starting to see trade flow again
Liners take drastic steps to ride out economic storm

Strait Talk

Just a few straws blowing in an ill wind
THEY say it is an ill wind indeed that blows nobody any good. There certainly has been a lot of gloomy news coming across my desk over the past week or so.

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Mothballed container fleet at 392 ships or 1.1 million TEU HK January down 23.2pc to 1.6 million TEU, Singapore off 19.6pc US ports ready to grab share of US stimulus bonanza 'K' Line links to partners with GT Nexus software ICTSI Syrian terminal to handle transhipment boxes Industry slams EU plan to green transport at truckers' expense US freight index deepest decline since 2000 DB Schenker signs global deal with cold chain box provider Envirotainer Taiwan's CAL, EVA airlines to mothball aircraft Air France-KLM cuts summer capacity 2pc Lufthansa Cargo ground staff to work short hours from March Panalpina opens new logistics complex near Changi airport Alpine Air Express 2008 profits fall 48pc

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DGS sees scope for Dutch tie-up in maritime sector 300 Hong Kong logistics firms on brink of shutdown Allcargo 'consol'idates foothold in Vizag with KBS Manian & Bros Carriers prefer short-term spot deals Europe completes major project for safety at sea Anti-dumping duty on plain MDF board mooted Developed nations' trade walls to be challenged at WTO TCI chief moots regulatory body for logistics sector Emirates SkyCargo tops in e-freight uptake Balmer Lawrie operates 1st charter flight from HALCON ACC CII lists reasons for welcoming Interim Budget It reaffirms government's commitment to comprehensive tax reforms-AIAI Not even crumbs offered, rue garment, jewellery exporters Fiscal FDI target may prove elusive Interaction with Danish Minister on pollution control tomorrow

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FEBRUARY 16, 2009
TNT takes over Chile-based LIT Cargo The Netherlands-based postal and CEP operator TNT has strengthened its position in the Chilean market with the acquisition of 100% of the domestic express delivery company, LIT Car... Dachser creates 150 more jobs in Cologne The international logistics service provider Dachser put a new logistics facility into service in Cologne (Germany) at the beginning of February. The premises were built on an 80,0... DHL Express opens new warehouse near Metz DHL Express recently phased in a new logistics platform with 1,600 sqm of storage space and a 380 sqm office area in Montoy-Flanville near Metz (France). The new, significantl... Grand Alliance to cooperate with ZIM Lines Grand Alliance to cooperate with ZIM Lines The members of the Grand Alliance - Hapag-Lloyd, MISC Berhad, Nippon Yusen Kaisha (NYK) and Orient Overseas Container Line (OOCL) - are t... BA World Cargo fuel surcharges British Airways World Cargo will reduce its fuel surcharges to GBP 0.37, USD 0.55 and EUR 0.55, with effect from 23 February. The new rates are displayed on BA World Carg... First vessel berths at the new extension of Koper's Pier I A container vessel of the French CMA-CGM shipping line, which provides a regular service between the Adriatic Sea and the Far East, recently arrived alongside berth 7c on the exten... Panama and Norway ratify MLC Panama as the fourth and Norway as the fifth flag state have now ratified the Maritime Labour Convention, 2006 (MLC 2006). The convention will come into force when both a... New heavylift vessel leaves Lloyd shipyard The heavylift vessel "Combi Dock III" was recently named at the Lloyd shipyard in Bremerhaven (Germany). The "Combi Dock III" is an 11,000 dwt multipurpose t'weendecker vessel that...

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FEBRUARY 17, 2009
IMO chief calls for action on global warming ILO pay talks break down UK club's cautionary note on lay-ups Chemoil strengthens credit management team

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FEBRUARY 17, 2009
Navy-held pirate suspects may be prosecuted outside Kenya Another Antarctic cruise ship grounds Excel Maritime suspends dividend payments LR makes acquisition Maersk FPSO's takes over LNG operations

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FEBRUARY 17, 2009
HSH to shed 1,100 jobs as it quits box financing WORLD'S largest shipping bank to scrap its container financing business as part of a wide-ranging reduction of activities. HSH unveils E3bn net loss SeaFrance to axe a third of its workforce SEAFRANCE is to axe 650 jobs ina bid to safeguard its future in the face of "grave economic and financial difficulties". Contract defaults force Excel to axe dividends DRY bulk carrier unveils potential losses of over $100m after two clients refuse to pay agreed charter rates.

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FEBRUARY 17, 2009
US shipping shares pummeled NEW YORK-listed shipping stocks took a beating on Tuesday, with drybulk shares yet again leading the plunge HSH Nordbank to shed 1,100 jobs LEADING shipping bank HSH Nordbank proposed today a rescue plan involving sweeping cuts to its workforce and credit portfolio following billions in losses from the financial markets crisis Counterparties rebuke Excel EXCEL Maritime revealed today that counterparties are refusing to pay full rates, forcing the NYSE-listed drybulk company immediately to suspend dividends ZIM-Grand Alliance deal closed ISRAEL'S ZIM and the box ship consortium Grand Alliance have teamed up on the Pacific northwest trade to improve trade services, ZIM said today Steel calls tune for China shares STEEL controlled Shanghai's stock exchange today, sparking profit taking Prepare for EU insurance rules PREPARATION for Solvency II, the EU's revised set of regulations for insurance firms, must take place now and be done effectively, a business consultancy warned today Sea Containers rises again BERMUDA'S Sea Containers has emerged from bankruptcy after transferring its maritime container interests to new business SeaCo, the company said today

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FEBRUARY 17, 2009
MOL expected to cut capacity again Trans-Pacific, intra-Asia and Asia-South America routes could face 10 percent cuts in April How stimulating is the stimulus? Clean-trucks fee set to begin Idled fleet soars to 1.1 million TEUs Panama Canal won't alter toll schedule Grand Alliance revamps Asia-Black Sea service Ship financier posts $3.6 billion loss Price for Alitalia Cargo: $19 million Chennai extends bidding on terminal project TNT earnings plummet Houston weighs purchase of Bayport cranes

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FEBRUARY 17, 2009
MDST analysis reveals scale of downturn Zim / Grand Alliance in Transpac co-op CMA CGM PEX2 to bypass Panama Canal Suez transits down 22% in January Global box terminals contract by around 20% in January

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FEBRUARY 17, 2009
Excel vexed Stamatis Molaris-led bulker owner cuts dividends and braces for $107m hit as two charterers "unilaterally" halve hire. Concordia rises Cautious outlook for 2009 but Swedish tanker owner reports strong sums for last year. Deputy Thomas Fifth generation shipowner Thomas Wilhelmsen is now one rung from the top of the family firm's corporate ladder. Dutch digging Indian excavation firm BEML in talks with Netherlands owners over building dredgers in India. Tommy's clear out Former president Suharto's son (right) rings the changes among top management at Indonesian tanker owner HIT. Maersk moves Danish group transfers LNG operations from Maersk Tankers to Maersk FPSOs to draw on common market characteristics. Deep red for BWO Flurry of write downs leads FPSO owner to $279m fourth quarter loss. Board chopped Maersk men ushered in as Sweden's Brostrom dismisses board in advance of quitting exchange. Boustead bombs Malaysian shipbuilder sees net profit dive in fourth quarter and year despite sales soaring. Death on tanker Falling piece of metal kills one and injures another onboard Singaporean ship in Malaysia. No QE2 sale Historic liner's new owner denies it's ditching plans to turn vessel into floating Dubai hotel due to lack of funds. More please! Cash-hungry Canadian shipbuilder Davie squeezes another $35m in ship price hikes from customers Cecon and Ocean Hotels. USCG probe Investigation begins into death of 44-year-older commander Keith Willis on cutter at Portsmouth Naval Shipyard. Yard battle Russia's Volgograd struggling to complete orderbook after losing contracts from Svithoid and Donrechflot. Idle fleet fears Nearly 400 boxships now sitting sparking suggestion overcapacity is set to stay until the middle of the next decade. Buyers poised Two investment funds have emerged as potential buyers of troubled Korean shipbuilder C&Heavy. Eships' duopoly One of Abu Dhabi shipowner's three major shareholders sells out to the other two for $45m. Piracy pinch Increased hostility in the Gulf of Aden and a cut in Asia Europe traffic slices Suez Canal revenue by a fifth for January. Hot pursuit Malaysian commandos nab seven pirates armed with explosives after chase in Malacca Strait. Taiheiyo tanks Japanese tanker and bulker operator slumps to a loss at end of third quarter due to charter failures. HD Ferries quits Ferry link between Channel Islands and France is terminated after route deemed unviable. Bankruptcy battle Top charterer Transfield comes out fighting as it bids to block Armada attempt to gain protection from creditors over $209m debt. Loads of limericks Many thanks for your efforts galore; Keep them coming more, more, more and more; From pirates on tankers; The Biffex and bankers; Send them in, Thai or Finn, ship or shore. Singapore slumps Republic's two terminal operators see container throughput fall nearly 20% compared to a year ago.

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FEBRUARY 17, 2009
Containership surplus could persist for years Vessel layups have little impact on insurance cover Fake shirts tailed to Miami NIT League hosts transportation infrastructure webinar L.A. thieves make off with electronics DHL, Savi test GPS on LCL shipments Panama Canal unruffled by CMA CGM rerouting Take a break from work in your work Long Beach January volume drops 23%

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FEBRUARY 17, 2009
CMA CGM bypasses the Panama Canal The world's third largest container company has decided not to sail via the Panama Canal on the return leg of it's Asia ' Caribbean service PEX2 and will sail around the No new international minimum wage for seafarers The International Shipping Federation, ISF, and the International Transport Workers' Federation, ITF has failed to agree on a new ILO Minimum Wage for Able Seafarers. According to ISF, there is D/S Norden seizes money through US court D/S Norden has seized USD 98.2 million via a New York court from a Russian customer. The Russian company Rusal Tranding International has not paid their bills for ITF offers crisis help The International Transport Workers' Federation is offering help to shipping companies in financial trouble, and if all fails and the company goes bust, the ambition is to secure salaries and Skuld warns as US claims jurisdiction A US Court of appeals has convicted a foreign management company on a number of counts connected to making illegal discharges and false records in the Oily Record Book. The No ThyFerries service On Monday this week it became clear that ThyFerries Ltd and the group behind the company, did not manage to raise the necessary funds to start a ferry service between

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FEBRUARY 17, 2009
New hull offers 'up to 90 percent fuel savings' Multi-purpose vessel design helps reduce emissions through efficiency. More price falls in European bunker markets Crude oil prices tumble in early trading. Bunkering spill 'worse than first reported' Latest estimates say 1,000 mt of bunker fuel may have been spilled off Irish coast. Suez Canal transits at 5-year low Official blames global financial crisis and piracy. Bunker spills causing concern Russian officials promise stricter enforcement of shore-to-ship oil transfers. Chinese bunker demand up in February Reports say more bulk carriers are calling at Chinese ports. Bunker prices mostly soft on Tuesday Demand below average at most key Asian ports. New IBIA chairman seeking 'trust and understanding' All sides of the marine fuels industry must 'sit down together' and work through the urgent issues. Russian warships spill bunkers off Ireland Incident possibly occurred while refueling. Singapore in next step for floating storage project Tender for site study opens. Hong Kong faces delay in effecting Bunker Convention Ratification of the code now expected late this year. Oil demand to recover in 2010 Both the IEA and EIA expect oil demand to go up by at least a million bpd next year.