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Shipping News

Marine & offshore industry excels
THE marine and offshore industry had a stellar year riding the global oil and gas industry boom in 2008, with total output rising to a record $15.4 billion, 18 per cent higher than the $13.05 billion the previous year.
Cutting costs may do more harm than good: DNV
AT a time of when many shipowners and operators are desperately cutting costs to stay above water, DNV has warned that some of those measures could turn out to be counter-productive in the long run.
Technological challenges in the Arctic
THE Arctic holds significant undiscovered oil and gas reserves, 13 per cent and 30 per cent respectively according to the US Geological Survey; Circum-Arctic Resource Appraisal, 2008.

Strait Talk

Voyage back to good times will be long
THERE may be tentative talk of a recovery from the global downturn, but for shipping, it is likely to be a long haul back to the good times.

web site

Shipping News

Marine & offshore industry excels
THE marine and offshore industry had a stellar year riding the global oil and gas industry boom in 2008, with total output rising to a record $15.4 billion, 18 per cent higher than the $13.05 billion the previous year.
Cutting costs may do more harm than good: DNV
AT a time of when many shipowners and operators are desperately cutting costs to stay above water, DNV has warned that some of those measures could turn out to be counter-productive in the long run.
Technological challenges in the Arctic
THE Arctic holds significant undiscovered oil and gas reserves, 13 per cent and 30 per cent respectively according to the US Geological Survey; Circum-Arctic Resource Appraisal, 2008.

Strait Talk

Voyage back to good times will be long
THERE may be tentative talk of a recovery from the global downturn, but for shipping, it is likely to be a long haul back to the good times.

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Hanjin Shipping opens triple-berth container terminal in Busan Matson CLX service makes maiden call at Xiamen Hamburg Sud offers new intra-Caribbean, upgrades UCLA services Canadians say they played little role when Italians captured pirates Cosco Group, China Merchants eye stake in Kaohsiung Port Shipping Corp of India charters two box ships for Europe trade SCSPA receives extra funds for reducing air pollution St Petersburg Port box throughput down 27pc January-April Korean Air Cargo suspends Tel Aviv flights till October 23 India's air freight decline slows in March Aeroflot in Czech codeshare after bid to by airline dropped

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Unimaginative tax regimes must go Canadian & Italian choppers foil pirate attacks on 2 ships Shipping industry banking on fund of hope AEPC unveils dual strategy to boost textile exports in tough times Pawar explains why foodgrains export ban may continue Iron ore exports March downward Ahoy! Orissa Maritime Board bobbing up GlobCon Logistics drops anchor in India MCA for greenfield airports now on planners' radar Highest weekly gain for markets since 1992 Pranab gets down to business with PM's help MPSEZL confirms facility's class with another quality award Seminar today on managing currency risks IMU offering 6 new courses

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MAY 25, 2009
Stobart Group reports good results for 2008 The UK-based transport and logistics service provider Stobart Group has reported a pre-tax profit of GBP 23.9 million on sales of GBP 431.1 million, following a string of acquisiti... Ceva Logistics wins new contract in Turkey Logistics and supply chain specialist Ceva Logistics has signed a three-year EUR 3 million agreement with Danone Tikvesli in Turkey. Ceva Logistics will supply various services, in... Hamburg Süd upgrades UCLA service and launches new intra-Caribbean sling Hamburg Süd and Aliança are upgrading their UCLA service that plies the trade between the South America east coast, the Caribbean, Central America and the US Gulf at... Normal gauge tracks going east The Ukrainian government has accepted a plan to build a standard European gauge rail link from Lviv (Ukraine) to Przemysl (Poland). The 85 km stretch of track is estimated to ... Continental announces Houston-Rio schedule The US carrier Continental Airlines will launch daily nonstop B767-200 flights between its Houston TX (USA) hub at Bush intercontinental airport and Rio de Janeiro (Brazi... Dockwise secures USD 63 million in near-and longer term contract awards Dockwise Ltd, headquartered in Bermuda, has announced that eleven near-and longer term contracts have been awarded to its subsidiary, Dockwise Shipping. The deals are for the trans... Klaipedos Smelte plans to build a container hub The international terminal operator Terminal Investment Ltd, which became the main owner of the Lithuanian handling firm Klaipedos Smelte last autumn, recently presented its p... AirBridgeCargo focuses on Sheremetyevo airport AirBridgeCargo concentrated most of its flights on Moscow Sheremetyevo international airport in May. Sheremetyevo handled 100 t of cargo in one and a half hours. The airport handle... Finnair deploys A330 to Delhi The third of five additional Airbus A330s for Finnair's fleet started serving New Delhi (India) in mid-May. Two more A330s will be delivered in June and November this year. BAWC reports increased commercial revenue British Airways World Cargo (BAWC) reported commercial revenue (flown revenue plus fuel surcharges) of GBP 673 million for the full year beginning April 2008, a 9.4% increase again... Hunziker new boss of Lufthansa Cargo Charter Swiss national Reto Hunziker has been appointed the new managing director of Lufthansa Cargo Charter, with effect from 1 August. He will be leaving his current position as executiv... CryoPort and FedEx link up to provide frozen shipping services CryoPort Systems Inc and FedEx Express have signed an agreement to provide a frozen shipment solution for the life science industry. The CryoPort Express Shipper allows for product... Air Berlin to fly to Israel Air Berlin, Germany's second-largest airline, is to fly from Berlin Tegel to Tel Aviv for the first time this summer, operating a twice weekly service from 7 July. Israel and Germa... Routes Europe - a most successful event Nearly 650 of Europe's key decision makers involved in route development recently joined forces in Prague (Czechia) to explore business opportunities and meet with fellow ind...

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MAY 26, 2009
Warships intervene against pirates Golden Ocean Q1 result down Hamburg Süd rejigs Americas service Jamaican fleet grows

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MAY 26, 2009
Box lines "face $10bn global loss this year" MOL boss says first quarter results from the world's largest carriers showed total losses of around $2.6bn. Andersen warns of box line failures Crisis could see Asia become world's dominant maritime force GLOBAL shipping meltdown could be seen as shift to Asian domination of the sector, concludes ship finance forum. NileDutch and NYK team up in new service NILEDUTCH is taking advantage of record low charter rates to secure ships for an Asia-West Africa service.

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MAY 26, 2009
Drewry sees tanker sorrows THE TANKER sector will remain weak through mid-2011, Drewry Shipping Consultants predicted today in its quarterly Tanker Forecaster LNG movement data revealed A NEW TRADING tool for analysis of global LNG movements, LNGLive, has been unveiled by Lloyd's Register-Fairplay and the energy trading software company Innovez French order spill deposit A REEFER ship's owner was today ordered to pay a €300,000 ($417,316) security deposit in connection with the dumping of vast quantities of oil off the French coast Pirates taken in double arrest SEVEN Somali suspects believed to have fired rocket-propelled grenades and small arms on a Greek bulk carrier were captured in the Gulf of Aden early today US antitrust allegations mount FRESH revelations have emerged on the possible involvement of upper-echelon executives in allegations of price fixing in the US box trade Stuck with pay-the-pirate SHIPPING has no option but to pay ransom to pirates, despite efforts by the US to stop such payments, a London seminar heard today Eidsiva reverses out of 1Q NORWAY'S ro-ro and car carrier group Eidsiva Rederi, which slipped into the red in this year's first quarter, is not optimistic about the rest of the year

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MAY 26, 2009
LaHood: Restart Cross-border Trucking Truck Tonnage Plummets in April LaHood: No Gas Tax Hike Maersk CEO Calls for Global Emissions Pact Diesel Prices Increase 4.3 Cents to $2.274 Long Beach Will Furlough Workers Pierce County Eyes Restrictions on Warehousing Canadian National Settles Derailment Charges BNSF to Start Summer Maintenance Projects Piraeus Port Loss Narrows UPS Speeds Transit Times to Kansas Economist Forecasts Trade Stabilizing Russian Economy Deteriorates Trucker Survives Chapter 11 Consumer Confidence Blooms MOL Eyes Dry Bulk Acquisition Hamburg S¨d, Alian'a Upgrade Service Seattle Box Volume Dropped 32.5 Percent APL Box Volume, Revenue Fall

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MAY 26, 2009
Mexico reeling from recession: swine flu impact to come Boxships collide at Tanjung Perak, Surabaya Trieste goes to red and amber DPW's Australian facilities accredited Hamburg Sud beefs-up UCLA

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MAY 26, 2009
Oltmann buys Germany's Oltmann Group has put its distressed-asset fund to work on a ship associated with troubled Gdansk Stocznia Remontowa. Omega cuts rate Omega Navigation is taking $10,000 per day less for an LR-1 tanker and hoping for profits to split. Armada restrained Creditors heading for victory over appointment of judicial manager to oversee insolvent Singapore chartering group. Money for nothing John Fredriksen's Seadrill has beat analyst performance estimates and says customers are even paying for rigs they can't use. Give generously Loss-making Finnlines asking investors to buy new shares worth EUR 37.3m to strengthen its finances. Talks still on Norden standing by plans to cut orderbook despite recent dry-bulk resurgence, company officials say. Distant hope Tanker markets set for three years of pain, but could be back on track after 2012, Drewry report reckons. Rates hurt Lasco Latvian owner rues drop in tanker rates below operating levels but limits damage with cost cuts. MOL readies move Japanese giant reiterates desire to splash out on acquisition with "tens of billions of yen" on the table. Greek bulker hit Photos show damage to Greek-owned bulk carrier fired at in Gulf of Aden, seven 'pirates' arrested. Fire fight LR and UK P&I Club team up again to produce checklist to help crews improve safety and reduce claims. 3 Maj slumps Croatian shipbuilder hammered by higher costs in first quarter as result turns red. Bomb plot foiled Aboitiz Transport System has lucky escape as police disarm explosive planted at its Nasipit Port ticket office. Bulker boomerang "Worst is over" Goldman Sachs says as Chinese demand comes back while Rio Tinto signs iron ore contract in Japan. Tax sinks Piraeus Greece's largest port posts another first quarter loss despite spike in container traffic. Losses mount General cargoship player Lithuanian Shipping has made a losing start to 2009 after posting a deficit for 2008. Guardian gone Thoresen Thai continues clear out of elderly ladies as another general cargo vessel leaves fleet. French spot slick Eastwind Group reefer asked to pull into port of Brest after authorities spot apparent oil spill. Racism row Two black former workers at Victoria Shipyards in Canada file suit alleging discrimination by colleagues. Bright spark Korea Electric Power Corp wants its own shipping arm to cut transport costs. Sneezey cruise Two children confirmed with swine flu on Carnival ship, with 14 crew members sitting out next voyage after feeling unwell. Eidsiva in red Oslo-listed shipowner sinks to first quarter loss and says its full year expectations are not good. Man overboard 18-year-old US student feared dead after falling from Carnival cruiseship in Gulf of Mexico. Alam ahead Malaysian offshore vessel operator sees profits jump nearly 30% on large fleet and higher rates. Small cut Another seven shore-based jobs axed at Canadian group BC Ferries as passenger volumes fall. Iran adds muscle Iran's naval commander Rear Admiral Habibollah Sayyari is sending more naval ships to Somalia. Japan shrinks Japan's newbuilding orderbook has declined over 12% in the eight months since market highs. Case adjourned SembCorp Marine says New York injunction against it over failed rig deal is adjourned until June.

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MAY 26, 2009
U.S., Europe shippers spar over Rotterdam Rules Hamburg Süd alters South America/Caribbean/Gulf loop NYK, NileDutch in new Asia/Africa service AAEI says 10+2 costs will mount U.S. still able to build integrated circuits USDA sets dairy export incentive allocations Pa. delays bids on new container terminal Seattle dedicates terminal for China Shipping Bomb in Philippine port disarmed

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MAY 26, 2009
Swedish unit captured pirates Early this morning, suspected pirates attacked the Greek flagged bulk carrier M/V Antonis in the Gulf of Aden. The pirates fired upon the ship with small arms and rocket Huge loss for Gard despite good return on premiums Norwegian Gard has reported northbound as well as southbound results for the 2008 financial year. The club's combined ratio (claims costs in relation to written premiums) was 78 per cent Unifeeder's best year ever Unifeeder A/S made their best profit ever in 2008, DKK 540 million. That is double the figure 2007, when the profit was DKK 250 million. The profit in 2008 D/S Norden with higher revenue than expected D/S Norden took the analysts by surprise with its presentation of its Q1 report. Revenues were much higher than expected for the period, although dramatically lower compared with the

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MAY 26, 2009
Ecuador investigates after ship stranded with fuel Vessel 'did not have the relevant permission to enter with the fuel'. Prices softening in Europe Rotterdam barge market 'yo-yoing'. Lower bunker surcharges hitting revenue NOL blames weaker freight rates and lower bunker surcharges for drop in revenue. O.W. Bunker expands team at Copenhagen branch Growth of the new division 'has necessitated the recruitment of new employees'. Slow steaming cutting bunker consumption in half BIMCO is working on 'Slow Steaming Clause' for ships operating in the tramp sector. Singapore bunker prices slip for a third day Bunker prices in key Asian ports fell marginally on Tuesday. SGX to launch 380 cst futures contract this year Fuel oil futures contract expected to start in the second half of 2009, Singapore Minister says. Hong Kong bunker demand falls Ports in mainland China offering competitive prices. OPEC 'agreed' on production targets Saudi Oil Minister al-Naimi says OPEC will 'probably stay the course'.