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Shipping News

Baltic Dry Index posts 3rd straight decline
The Baltic Dry Index, a measure of shipping costs for commodities, posted a third consecutive decline on weaker demand and slower activity before the Chinese New Year holidays.
Parents of captured Ukrainian sailors seek help
The parents of Ukrainian sailors held hostage by Somali pirates on a ship carrying a vast horde of weapons have told AFP they want humanitarian groups to help the sailors suffering 'horrible' conditions.
Chinese navy deterring pirate attacks
Chinese naval vessels have so far carried out six escort missions for 16 ships in the pirate-ridden waters off the Somalian coast as up to 8am yesterday, Xinhua news agency quoted a Chinese military spokesman as saying yesterday.
Newcastle Port ship queue slumps
Jurong Port thriving as multi-purpose gateway to region
Greek shipping magnate released by kidnappers
Gladstone Port works to cost less

Strait Talk

Downturn presents opportunities
I SUPPOSE it would be impossible to prepare shipping accounts for 102 years and not pick up a thing or two about the cyclical nature of shipping - and how astute owners make money in downturns.

web site

Shipping News

Baltic Dry Index posts 3rd straight decline
The Baltic Dry Index, a measure of shipping costs for commodities, posted a third consecutive decline on weaker demand and slower activity before the Chinese New Year holidays.
Parents of captured Ukrainian sailors seek help
The parents of Ukrainian sailors held hostage by Somali pirates on a ship carrying a vast horde of weapons have told AFP they want humanitarian groups to help the sailors suffering 'horrible' conditions.
Chinese navy deterring pirate attacks
Chinese naval vessels have so far carried out six escort missions for 16 ships in the pirate-ridden waters off the Somalian coast as up to 8am yesterday, Xinhua news agency quoted a Chinese military spokesman as saying yesterday.
Newcastle Port ship queue slumps
Jurong Port thriving as multi-purpose gateway to region
Greek shipping magnate released by kidnappers
Gladstone Port works to cost less

Strait Talk

Downturn presents opportunities
I SUPPOSE it would be impossible to prepare shipping accounts for 102 years and not pick up a thing or two about the cyclical nature of shipping - and how astute owners make money in downturns.

	web site

MOL drops China-South America plan, revises PIL joint loop instead US Customs says total container traffic falls 4.7pc in 2008 US Chamber urges China and Obama to back free trade Freightgate's new Compliance-Trek software geared to 10+2 Orient Shipping offers weekly Kelang, Singapore, Chittagong feeder Canadian trade confidence falls as domestic demand slackens Half IATA respondents predict further declines in 2009 Huntsville Airport's air cargo drops 24.3pc in November BIFA welcomes decision to build third Heathrow runway

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Sahil freight set to raise profile at CTL IMEX GE Shipping ends deal to sell Supramax GL moves into new more spacious office in city Worst over for Asias box trade says JP Morgans analyst SCI to launch direct service ex-JNP to Red Sea ports KoPT locates 2 new sites for cargo handling Major Ports throughput just a shade better Sarma assures KPCHAA of prompt redressal of trade woes PSUs offer to invest Rs. 1.5 lakh cr. in Gujarat Nath hopeful of FDI piercing $30 bn in 2008-09 Mandelson reposes faith in FTA with India to overcome crisis PMO to discuss exporters' problems at trade bodies meet today More fiscal measures likely during vote-on-account in February Service providers advised to latch on to lifeline of World Bank Projects

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JANUARY 19, 2009
Leipzig/Halle now third biggest cargo hub For the first time in its history, Leipzig/Halle airport, part of Mitteldeutsche Airport Holding, handled almost 450,000 t of cargo and thus became the third largest logi... Röhlig invests on the Indian subcontinent The Bremen (DE)-based freight forwarding company Röhlig & Co is taking another crucial step to expanding its international network. By acquiring a 50% shareholding in the Indian fr... Liter building class A logistics platform in Rostov-on-Don The Moscow-based Russian logistics company Liter is planning to construct the Liter Don class A logistics centre on the M4 arterial road 15 km from Rostov, in the district of Aksay... TNT signs logistics deal with Bristan Group in UK The Dutch mail service provider TNT is joining forces with Tamworth, West Midlands (UK)-based Bristan Group to help the bathroom supplier provide a first-class next-day-before-noon... TWIC checks made in Miami The coast guard in Miami FL (USA) recently conducted spot checks at 38 facilities to assess compliance with the mandatory Transportation Worker Identification Card (TWIC)... Australia investing in rail freight Australia's government said it will spend AUD 1.2 billion (USD 830 million) upgrading the country's rail network to facilitate rising demand for rail freight services. The investme... MOL amending Asia to east coast South America service The Tokyo-based Japanese shipping company Mitsui O.S.K. Lines (MOL) has amended its Asia-east coast South America Service (CSW). The sailing will make an additional call at W/... Finnlines increasing capacity in German and Russian traffic Helsinki (Finland)-headquartered Finnlines, one of the largest European shipping companies, will put a fourth Star class vessel - the "Nordlink" into service on the line between Fi...

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JANUARY 20, 2009
FFAs up in 2008 but tumble in Q4 Panagopoulos freed by kidnappers Timber "slick" in Channel Indian newbuildings prompt new GL office Maersk seals Bromstrom deal

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JANUARY 20, 2009
Matson Navigation to cut 60 jobs New Robert Allan ASD tug class Davie Yards client loses credit line Management changes at OSG Kidnappers release Panagopoulos Tighter security for ships from Venezuela

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JANUARY 20, 2009
MSC Napoli inquiry calls for land-based Sosrep REPORT urges creation of new post to co-ordinate shoreside teams responding to a maritime emergency. Local authority to release MSC Napoli findings VLCC spot market faces trouble SPOT rates for very large crude carriers are projected to take a severe beating in the coming months.

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JANUARY 20, 2009
'Contango hangover' feared THE VLCC market has been buoyed by floating storage charters, but there could be fallout when the 'contango' oil trade unwinds, warned Dahlman Rose analyst Omar Nokta 'New Panamax' defined RESPONDING to shipping queries on maximum vessel size for the future locks, the Panama Canal Authority (ACP) has issued precise details on dimensions for the next era of Panamax ships Charleston boss bows out LONG-TIME Port of Charleston director Bernard Groseclose resigned earlier today, shocking the port staff and the local maritime community OSG's Whitworth resigns OVERSEAS Shipholding Group has announced a flurry of management changes "effective immediately" and confirmed that Jonathan Whitworth, who previously oversaw the company's US-flag interests, has resigned Indian refiner turns to spot MANGALORE Refinery and Petrochemicals is set to export diesel via spot tenders as a term deal to supply Iran has not been renewed, reports Reuters today FFA trades downshift FORWARD Freight Agreement trading fell sharply in 4Q08 and shifted dramatically towards cleared versus over-the-counter contracts, according to the Baltic Exchange Suez reports box traffic growth SUEZ CANAL Container Terminal has reported a 34% growth in 2008

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JANUARY 20, 2009
South Carolina ports chief steps down South Carolina State Ports Authority CEO Bernard Groseclose (left) resigns, replaced by board member John F. Hassell Security upgraded for ships arriving from Venezuela Ship grounds near Baltimore Obama seen as key to new global trade agreement BNSF launches Seattle-Tacoma express box service Cargotec warns on profit Cargo to hit Air France net Renewal slated for BNSF southeast intermodal line Japan ship orders sink Alitalia cargo sale near Hanjin lets Algeciras pact

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JANUARY 20, 2009
Clandestine Auckland move infuriates Tauranga British Columbia port talks continue MSC Rhone still aground at Lagos Bulcon pulls all services after 'devastating' results APL secures STP-plus status

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JANUARY 20, 2009
Excel nixes supra Stamatis Molaris-led bulker owner cancels deal to buy the Medi Cebu with $7.25m payment and company shares. VLCCs lift Euronav Fourth quarter flips to a profit as Belgian tanker owner closes books on record year. OSG shuffles posts Among the changes, OSG America chief executive steps down as CFO Myles Itkin takes his place. Ro-ro chopped Spain's Acciona Trasmediterranea cancels one of three ro-ros on order at Navantia shipyard. BC scores loan Canadian ferry operator BC Ferries signs up for $85.4m loan with German export bank KfW Bankengruppe. CSL ship freed Canadian owned panamax is re-floated in the Chesapeake Bay after cargo of iron ore removed. Panagopoulos free Greek shipping stalwart reportedly released after a week in captivity. No word on ransom payment. Rio cuts again Over 1,000 more jobs to go at mining giant Rio Tinto which is selling a Chinese joint venture and closing smelters. Maersk bags 96% Danish shipping giant emerges from offer for products tanker player Brostrom with all but 3.8% of the company. Rates 'to stay low' Weak boxship rates "likely to continue" and dry-bulk market "to remain depressed", Alvin Cheng-led PST warns. Tanker caution US investment bank Dahlman Rose cuts NAT and Teekay stock from Buy to Hold as long-term spot market looks weaker. Banks pulled out C&Heavy Industries has lost the support of the Korean Federation of Banks as it completes first round of emergency review. Trio seized Indonesian patrols detain two tankers and a cargoship lacking proper documents, crew certificates. Lindo at risk? Report claims AP Moller-Maersk considering closure or change of strategy at loss-making Danish shipyard. Protector for NEMI Norwegian insurance group set to buy marine underwriter after rejection by US suitor. Loan chopped Norwegian bank DnB NOR has withdrawn a $200m loan from Cecon amid accusations of a breach of covenants. Timber threat MCA keeping close eye on 'wood slick' from Fesco ship which could litter UK shore tomorrow. Futures brighter Baltic Exchange figures show FFA volumes grew up to 15% in 2008, but final quarter sees decline. BC chops Canadian ferry owner culling 25 jobs from management ranks as passenger numbers fall. Port plea DFDS Lisco asks Lithuania's Klaipeda to cut port fees as it seeks to slash costs. Swire gets heavy UK group launches heavy-lift cargo run between US and Middle East with two multipurposes. Hanwha to quit? Analysts expecting Korean group to give up fight to buy Daewoo Shipbuilding due to credit crunch.

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JANUARY 20, 2009
Report: Idle boxships near 750,000 TEUs Korean ship to join Somalia anti-piracy force BIMCO piracy seminar focus: be prepared Groups call for more big trucks in Europe Partnership buys Smokey Point Distributing "Risk-based" Hawaiian produce rules AAFA offers product safety seminars Encompass adds CFO Groseclose resigns as S.C. ports chief FMC argues place in SoCal ports truck case Oakland solicits bids for old army base

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JANUARY 20, 2009
Greek magnate freed One of Greece's most successful shipowners since the days of Onassis, Pericles Panagopoulos, have been freed by his kidnappers, Reuters reports. Pericles Panagopoulos was kidnapped on January 12, outside his house in Kavouri near Athens by three armed men. No ... MISC halves order in Korea The world's largest LNG-carrier, Malaysian MISC, has cut its order of eight 45,000 DWT chemical tankers from Korean SLS shipbuildning down to four vessels. The cost for the eight tankers was reported at USD 430 million in 2007 when ... Another StandardFlex unit to Lithuania The Danish naval patrol vessel Lommen will be handed over to the Lithuanian navy as the third of the Flyvefisken-class vessels. Lommen has been laid up for several years at the Naval base in Kors'r and will sail to ...

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JANUARY 20, 2009
Fuel rebates as prices soften Canadian ferry company predicts no further fuel surcharges for 2009. Scarcity of low-sulphur fuel predicted Ships could be forced to bunker elsewhere, says study. European bunker market dips Piraeus and Gibraltar sees double digit falls ENOC returning to Fujairah bunker market Sources say deliveries ready to start 'soon'. More ships likely to be 'parked' Operator profits 'unlikely to fall' further, in part because of cheaper bunkers. Russian rail giant in deal with Transbunker Vanino refinery will be sent 35,000 mt of oil this month. Singapore/Hong Kong bunker prices plunge Bunkers dragged down by cargo values, traders say. Chimbusco inks contract with Tianjin Port New joint venture gives Chimbusco larger marketing network in China. Oil prices could rebound later this year Goldman Sachs analyst predicts crude oil at $65 a barrel oil in the fourth quarter. Fujairah imposes maximum stay at offshore anchorage Vessels exceeding allowed time period will be charged in effort to reduce congestion. Japan's bonded sales slip in November Sales fell year-on-year due to the economic slowdown. Barge to be suspended in Taiwanese port Bunker deliveries via barge suspended for first half of February.