Dry bulk shippers hope China will lead revival Just a year ago, on May 20, 2008, the Baltic Exchange's dry sea freight index - which tracks prices to ship commodities such as iron ore, coal, grains and cement - hit an all-time high of 11,793 points, driven by a seemingly insatiable hunger for raw materials among developing nations, especially China.
Pirates driven away from US ship SOMALI pirates reportedly attacked a second Maersk Line box ship today in the Gulf of Aden
Spanish yard violence erupts VIOLENCE erupted in Spain today over the inability of yard managers and workers to agree on pay and hours worked
Huge Shenzhen growth planned BEIJING plans to expand its Shenzhen economic zone to "a whole city", the official China Daily News has reported
Tit for tat in Russian spat? MOSCOW'S food fight with Cairo might be escalating, with Russian official seizing a shipment of Egyptian oranges at Novorossiysk's port
German inland hub plan unveiled GERMAN warehousing company Soltau Logistic Center plans for a €12M ($16.7M) inland container hub at its existing site
Cardy rejects criticism of MCA PETER Cardy, head of the UK's Maritime & Coastguard Agency, has responded firmly to allegations by ship officers that the MCA is "undermanned and demoralised"
Berlin to aid Wadan yard again GERMANY'S economy ministry said today the eastern yard Wadan Werft has received loan guarantees from the Berlin's economic stimulus package
Why the 'negative' outlook? On Wednesday (May 20) the International Monetary Fund (IMF) gave the UK's government a glowing endorsement on its 'bold and wide-ranging' response to the global financial crisis. The effect was to give a spike to the markets and not least a confidence boost to the embattled UK consumer. But yesterday (May 21), credit rating agency (CRA) Standard & Poor's (S&Ps), lowered its outlook for the UK economy from 'stable' to 'negative' and warned that there was a one-in-three chance that it would lose its prized 'AAA' credit rating. Result: the FTSE 100 suffered its biggest one-day fall since April - plunging by 2.75%. In one negative statement fragile confidence was destroyed.
NYK and Nile Dutch to start FE/West Africa link
Armstrong provides health check on 3PLs
Hanjin and Sinotrans tap Vietnamese market
S&P warns of UK downgrade: UK & European stocks suffer
Queen Lily bought Modern Japanese-controlled panamax goes to Greek buyers for $30.6m, brokers say.
ETA sells hull Emirates Trading Agency is said to have sold newbuilding kamsarmax to South Korean interests.
$33.8m for TMM Pemex reveals details of five-year charter of Mexican City owner's products tanker Tajin.
Vale shuttle flying Despite sharply reduced overall budget, Brazilian miner Vale sets aside $595m war chest for bulker acquisitions and COAs.
Maersk escapes Hijacking of boxship Maersk Virginia with 19 American crew thwarted in Gulf of Aden after Greek bulker is fired on.
$63m heavy loads Rig movements keeping heavy-lift specialist Dockwise busy with new contracts out to next year.
'Pirates' nabbed Italian Navy detains nine suspects after failed hijacking of Maersk ship and Greek bulker in Gulf of Aden.
No more defaults Charterers no longer hammering down the door to redraw deals, says Excel CFO Lefteris Papatrifon.
Genmar rating cut Standard & Poor's lowers credit rating for New York tanker owner General Maritime over expiring time charters and lack of covenant cushion.
Greeks snap raid Pikey Navigation confirms armed attack on bulker Maria K which crew caught on camera.
Classic result George Economou wins security for claim over $300m capesize chartering deal with 63' company that went wrong.
It's quotes time Somali pirates get a good prison pampering and has LNG lost its mojo?
Still spending Yuddhishthir Khatau says Varun is eyeing second-hand offshore vessels despite difficulties finding employment in the North Sea.
Excel revs up Greek bulker owner sees first quarter profit buoyed by Quintana takeover, but non-cash items skew the numbers.
Postal pact China's Sinotrans sells off loss-making domestic express delivery service to joint venture with DHL.
IPO wait Taiwan's Yang Ming could still go ahead with public offering of bulker unit in two or three years, president Robert Ho says.
In demand Cosco and China Merchants both in talks to snap up stakes in Yang Ming's Kaohsiung container terminal.
Auckland aggro Ports of Auckland chairman Gary Judd says he was sacked after being accused of "unhelpful" behaviour.
Haiphong link Hanjin Shipping and Sinotrans are launching an express link between China, Korea and Vietnam.
Yards win work US shipyards Todd and Bender seal contracts to upgrade government icebreaker and two ro-ros.
Safe cancels Polys Hajioannou-led outfit cancels two newbuildings in South Korea and terminates three long-term charters.
Sharing the spoils Sevan secures FPSO deal which will see its pay based on the performance of the Shelley field as Premier completes Oilexco takeover.
SCI takes two Indian national owner takes a punt on a pair of chartered boxships at rock-bottom rates.
Mate's mistake Greek bulker's second mate failed to monitor vessel's course before it grounded off Australia last year.
Euroseas lays-up Aristides Pittas-led shipowner takes three boxships out of service as first quarter profits slump 75%.
Safe's profits rise Cash from early termination of charters helps push up profits at Polys Hajioannou-led outfit.
Prices softer with stronger demand in major ports Suppliers report improving avails after tightness throughout the week.
European bunker prices lack direction Rotterdam market 'very quiet'.
New software for fuel consumption data Monitoring of vessel fuel consumption and efficiency has been enhanced.
Ships 'must become more fuel efficient' IMO's 'success' in reducing sulphur in bunker fuel confirms its role as global regulator, says ship operators' organisation.
Court orders sale of arrested ship Bunker trader that initiated arrest 'under no illusion' about getting paid.
Dry bulk sector faces tonnage glut Consultancy warns that rates will be weak for years to come.
Bunker prices weakening in Asia ports Singapore demand 'rather poor'.
New testing laboratory in Southern Europe Inspectorate expects Algeciras lab to open in September.
Bunker spill in Philippines Investigation underway to determine the source of the spill.
Singapore June term premiums firm Ex-wharf 380 cst premiums up slightly from May figures.
Bunkering, petroleum sales drag down Singapore Q1 trade Both domestic and foreign wholesale trade suffering.
'No further cuts' at next OPEC meeting Exporters 'more comfortable' at $60 a barrel.
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