More pain for freight lines UNCERTAINTY over the pace of world economic recovery and fleet oversupply are set to dog the sea freight container sector into 2010, spelling more pain for ship companies carrying manufactured goods.
Ex-boss took fees from rival: Zim ZIM Integrated Shipping is suing its former area president for Asia for allegedly breaching his contractual and fiduciary duties by taking consultancy fees from a competitor, accepting an US$80,000 loan and failing to disclose rebates paid back by a Malaysian port.
China bunker market set to double in a few years China's marine fuel market looks poised to double in size in the next few years to become Asia's second largest, but it will be cold comfort for traders watching dwindling demand for similar quality fuel oil from the power sector.
Outlook for LNG bright despite slump
Foreign firms eyeing US rail plans
Strait Talk
S'pore invention makes waves IT IS not often that I spend part of my weekend reading articles on keeping saltwater fish. In fact, it is unlikely to happen again. But I discovered an online aquatic journal that told me everything I needed to know about calcium in seawater.
More pain for freight lines UNCERTAINTY over the pace of world economic recovery and fleet oversupply are set to dog the sea freight container sector into 2010, spelling more pain for ship companies carrying manufactured goods.
Ex-boss took fees from rival: Zim ZIM Integrated Shipping is suing its former area president for Asia for allegedly breaching his contractual and fiduciary duties by taking consultancy fees from a competitor, accepting an US$80,000 loan and failing to disclose rebates paid back by a Malaysian port.
China bunker market set to double in a few years China's marine fuel market looks poised to double in size in the next few years to become Asia's second largest, but it will be cold comfort for traders watching dwindling demand for similar quality fuel oil from the power sector.
Outlook for LNG bright despite slump
Foreign firms eyeing US rail plans
Strait Talk
S'pore invention makes waves IT IS not often that I spend part of my weekend reading articles on keeping saltwater fish. In fact, it is unlikely to happen again. But I discovered an online aquatic journal that told me everything I needed to know about calcium in seawater.
DB Schenker now active directly in Egyptian market The German service provider DB Schenker established a foothold in Egypt through its participation in a joint venture (JV), with effect from the beginning of July. The JV was f...
Wincanton Fenthols augments capacities Wincanton Fenthols, a 50% participation of Wincanton GmbH in Fenthol & Sandtmann GmbH, has extended its premises in Hamburg-Billwerder (Germany) by building an around EUR 18.5 mill...
QCS'Quick Cargo Service posts record results The Frankfurt (Germany)-based sea and airfreight forwarder QCS'Quick Cargo Service GmbH reported a turnover of EUR 39.8 million in its last financial year. This equates to an incre...
DHL expands in New Zealand The German service provider DHL has invested USD 8.8 million in a new 11,600 sqm facility in Westney Industry Park, adjacent to the Auckland international airport (New Zealand). Th...
Russian Railway and Deutsche Bahn create international logistics centre The CEO of Russian Railways (RZD) Vladimir Yakunin and the chairman of the board of Deutsche Bahn, Ruediger Grube, recently signed a general agreement on the creation of an ed...
Confusion over Brussels scrapping policy TOP official denies European Commission working on plans to allow state subsidies for owners.
Tirrenia action plan revealed ITALY'S shipowners have presented the government with a 10-point plan.
Gulf of Mexico rig owners face insurance costs rise RIG and offshore platform owners face escalating insurance costs as they enter the US windstorm season.
Goodyear walks away from Temasek role CHIP Goodyear will not become chief executive due to "differences regarding certain strategic issues".
Eastwind tankers liquidated A judge today approved foreclosures by Tokyo Star Bank on five product tankers previously operated by Eastwind, which filed for Chapter 7 liquidation last month
Tanker gloom gains 'magnitude' TANKER company losses in 2Q09 could be of a "surprising magnitude", JP Morgan analyst Jonathan Chappell warned today
UK unveils mega, new port THE UK is planning to build a '400M port, set to be one of the busiest in the UK, at Salford near Manchester
Hanjin raises Atlantic rates HANJIN Shipping today announced rate increases for trans-Atlantic trades, effective 1 September
Study ties deaths to ship fumes A STUDY has argued that sulphur emissions from ships could cause tens of thousands of premature deaths each year from 2012
Siberian oil given tax break RUSSIAN Prime Minister Vladimir Putin has ordered special export duty relief for crude produced in 13 fields in Eastern Siberia
Carnival shuffles UK managers A REALIGNED management and board structure has been unveiled for Carnival UK, including a new boss for Cunard Line
OK for Ofer Judge signs off on plan to allow Nordea to sell Eastwind Maritime vessels to Sammy Ofer's Samama.
Double whammy Dry-cargo market faces double trouble if Chinese imports dwindle, analyst warns.
$14m payout US Shipping Partners reports details of settlement with Blackstone Group over Nassco products tanker series.
Ex-Tawe sold Renamed Taviland, Argentine-controlled handymax involved in high-profile grounding sells for $7.9m with bottom damage repaired.
Casualty file Weekly roundup revisits general cargoship sinkings off India and Turkey's Black Sea coast.
Tidewater 4 freed Dean Taylor confirms release of four Sil Tide crew members after months as hostages in Cameroon.
Tanker trio upped JP Morgan lifts ratings on three tanker owners but cuts sector's profit forecasts and downgrades two others.
Delaying tactics One in three boxship newbuildings has been pushed back as a result of the market crash, says Alphaliner.
Shreyas in red Indian feedership owner starts the year with a loss as revenues dive and disposal gains stay away.
Tanker attacked Yemeni forces open fire on Somali pirates trying to hijack vessel en route from Aden port.
Petrobras bags rig In deal worth as much as $1.45bn, Brazilian oil company takes Transocean semi-submersible for three years with options for five more.
Revenue dives Singapore's Neptune Orient Lines sees near 30% drop in average revenue per FEU in June.
TOO waives Teekay offshore spin-off pushes back the dates by which it can acquire tonnage from parent.
Growing again Indian offshore shipping player Garware boosts first quarter profit as revenues soar.
Handysize leader Japanese owners have the largest number of handysize bulkers on order according to broker BRS.
Pirates nabbed Five detained but one escapes as crew of tanker tied up and robbed off Malaysia.
Aegean adds one Greek group continues to plunder the second hand market with $25.5m tanker buy.
Take three STX Pan Ocean is looking to issue more bonds to raise its cash holdings.
Nigeria race row NLNG apologies after five non-black MPs refused access to Bonny Island ferry over 'security risk'.
Esco eroded Tschudi-owned Estonian multipurpose player sees 2008 profit chopped 67%.
A new hope? Owners' appetite for newbuildings is returning as the gap between new and second hand ship prices closes, Clarkson says.
Gladstone stays Australian state of Queensland rules out disposal of port as it lines up fundraising asset sale.
Sellers beware Shipowners warned against doing deals with new entrants into vessel demolition market.
Ro-ro held Dutch-operated vessel detained in Sheerness, UK, with 27 deficiencies.
Hanjin to up rates Hanjin Shipping is planning another rate restoration for its Trans-Atlantic trade from September.
FSL pays up Singapore's First Ship Lease Trust is maintaining the dividend payout for the second quarter.
Malaysian move Dutch group Vopak to develop new VLCC and products tanker terminal at Pengerang in Johor.
SNO bags 10 Romanian shipbuilder Santierul Naval Orsova has signed 10 newbuilding deals worth $20m with Dutch and German companies.
Tug death Sampan passenger dies after collision involving tug that was towing a barge in Macau.
Ferry crashes Passengers wait 20 hours on Algerian ship after it smashes into dock at Alicante, Spain.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
