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Shipping News

Mid-East tanker supply falls on demand, delays
The supply of supertankers waiting to collect two million barrel cargoes of Middle East crude oil shrank on stronger demand to ship consignments west and mounting delays at Chinese ports.
Crew of hijacked ship seek global intervention
Crew members of a hijacked Panama-flagged cargo ship being held off Somaliland's port of Berbera are appealing for international intervention to have them released, a maritime official said yesterday.
Grain shipping through Vancouver sets record0
Shipping of grain and related products through Canada's biggest port hit a record 18.1 million tonnes in 2009 as exporters moved two straight years of big crops to markets, Port Metro Vancouver said on Monday.
Baltic Dry Index falls as Chinese steel prices retreat

Strait Talk

Marine insurers still downbeat
JANUARY seems to be a month for taking stock. And one body that has a habit of doing so every January is the International Union of Marine Insurance (IUMI), which held its annual winter meeting at Lloyd's of London last week.

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Shipping News

Mid-East tanker supply falls on demand, delays
The supply of supertankers waiting to collect two million barrel cargoes of Middle East crude oil shrank on stronger demand to ship consignments west and mounting delays at Chinese ports.
Crew of hijacked ship seek global intervention
Crew members of a hijacked Panama-flagged cargo ship being held off Somaliland's port of Berbera are appealing for international intervention to have them released, a maritime official said yesterday.
Grain shipping through Vancouver sets record0
Shipping of grain and related products through Canada's biggest port hit a record 18.1 million tonnes in 2009 as exporters moved two straight years of big crops to markets, Port Metro Vancouver said on Monday.
Baltic Dry Index falls as Chinese steel prices retreat

Strait Talk

Marine insurers still downbeat
JANUARY seems to be a month for taking stock. And one body that has a habit of doing so every January is the International Union of Marine Insurance (IUMI), which held its annual winter meeting at Lloyd's of London last week.

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Slow steaming cuts idle fleet capacity to 1.37 million TEU Hapag-Lloyd hikes Asia-Canada rate US$400-$500/FEU mid March Hamburg Sud hikes rate for Asia-India, Pakistan, Mideast trades DP World's new Saigon Premier CT attracts MISC service Horizon Lines posts Q4 profit of US$1.3 million Japan's Kuroneko Takkyubin express opens in Shanghai Back to the future: Breakbulk reborn in China-Africa trade Pemco converts six B737s into freighters for Hainan Airlines Air France-KLM to sell two new Boeing 777 freighters to FedEx China Eastern Airlines launches Nanning-Rangoon service

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Trends, challenges & investment opportunities in logistics sector brought into sharp focus Mercator weighing prospects of acquiring 5 second-hand tankers, 3 dry bulk carriers Move to make Singapore maritime knowledge hub CSL delivers 4th PSV to German firm Maran unfolds strategy to draw overseas investors Basmati exports to exceed fiscal target Korean industrial zone in S. Gujarat to boost investments & trade Trainee IAS officers visit JNPT Bonded warehousing facilities at Nhava Sheva get a fillip ICES 1.5 launched at CWC's CFS-Ambad Optimistic of final lap, CONCOR may post 4-5 pc rise in cargo traffic Sensex in the bear grip Rs 345-cr. market development assistance earmarked for khadi Fieo spots rosier horizons Manufacturing sector growing by leaps & bounds Apeda initiates process to register Basmati under GI BRIC will drive break-bulk shipping growth-Goldman Sachs

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FEBRUARY 1, 2010
Road Haulage Association wins labour dispute The UK's Road Haulage Association (RHA) has won an unfair dismissal case brought by a former member of its staff. An employment tribunal has found that the redundancy of Gerald Wil... Werner reduced fleet size by 10% in 2009 The US trucking company Werner Enterprises reported its Q4/2009 revenue fell by 10% to USD 439.6 million. Full year revenue decreased by 23% to USD 1.666 billion in 2009, comp... K Line acquires stake in Air Tiger Express The Japanese shipping company K Line has reached an agreement with Air Tiger Express Companies to acquire a 51% stake in the company. The New York City USA)-based international fre... Eurogate and HHLA to create hinterland terminals and depots together Through a joint venture operated by their intermodal subsidiaries in Germany, Eurogate and HHLA, two German port logistics service providers, intend to set up full-service hinterla... Knight Transportation Q4 profits fall The trucking company Knight Transportation has reported that its Q4 profits fell by more than 18%, to USD 13.1 million, as sales slipped by 4%. Revenue in 2009 amounted to USD 651.... Norbert Dentressangle sees sales drop in 2009 The French logistics service provider Norbert Dentressangle, based in St Vallier near Lyon, reported lower sales in 2009, compared to the previous year. The company's turnover... Kuehne + Nagel Italia doubles area of Verona platform Kuehne + Nagel (K + N) is set to inaugurate a new 5,000 sqm warehouse at Interporto Quadrante Europa (IQE) in Verona (Italy), therefore doubling its spaces and resources in that ci... Wincanton with new partners for Italy, Bulgaria and Romania Wincanton, a transport and logistics service provider, has added partners in Italy, Bulgaria and Romania to its road services network. The Sofia-based Bulgarian company Unimasters ... Africa Express Line to operate new Eagle service to West Africa The British shipping company Africa Express Line is to operate a Europe Africa Global Line Express service (Eagle). The sailing will call once a week at Vado Ligure in Savona (Ital... GAC appoints industry veterans as new MDs in Thailand and Abu Dhabi In its latest round of management appointments, the GAC Group has named industry veterans Mark Delaney and Ronnie Knowles as managing directors of its operations in Thailand and Ab... Abu Dhabi Airport records increase in cargo traffic in 2009 Abu Dhabi Airports Company (ADAC) recently released its 2009 full year traffic figures for Abu Dhabi international airport. They showed that cargo traffic rose by 7% to a total of ... Barig welcomes three new members Three new members joined the Board of Airline Representatives in Germany (Barig) in January. The newcomers are the Iranian airline Taban Air, a specialist for airfreight and charte... Madina strengthens activities at Paris-Vatry Airport Two months after starting up its activities at Paris-Vatry airport (France), the private Libyan company, Madina Air Cargo has confirmed its twice-weekly service to Mitiga airport i... Kenya Airways to participate in EU emissions scheme The East African carrier Kenya Airways is cooperating with the UK's Environmental Agency by submitting an emissions management plan aimed at reducing the airline's carbon footprint...

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FEBRUARY 2, 2010
Budget ax whacks MARAD Budget boost for offshore wind Three promoted at OSG Keppel AMFELS delivers first rig of year

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FEBRUARY 2, 2010
Banks pull plug on Baltic Max Owners forced to scrap proposed scheme as banks back out Maritime co-ordinator seeks help for owners and yards Time not right for New York IPOs Appetite for new issues in Big Apple still low as shipping fundamentals unchanged Navios in $55.5m cash and stock deal for new capesize Resale newbuilding is seventh in last 12 months Super-slow steaming stretching Asia-north Europe voyages Average time extends from eight to almost 10 weeks Finland set to support its shipyards Government declares to help yards achieve orders of €500m

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FEBRUARY 2, 2010
Obama targets tax havens PRESIDENT Barack Obama's new budget plan could affect US shipping companies with overseas subsidiaries Pirates release Filitsa PIRATES have released bulk carrier Filitsa after a ransom was paid, according to EU NAVFOR SCI begins ship spending spree SCI HAS decided to exploit the global fall in ship prices to go on a shopping spree for secondhand vessels Danske sees bullish APM future APM HAS turned the corner and become a 'buy' target for investors, according to Peter Rothausen, shipping analyst at Danske Securities Navios buys another Cape NAVIOS Maritime Holdings said today it will acquire yet another Capesize newbuilding with a mix of cash and convertible preferred shares Fewer box ships laid up THE NUMBER of box ships in lay-up fell last month for the first time since the second half of 2008, an AXS Alphaliner report has indicated

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FEBRUARY 2, 2010
Cummins Reports Record Profit in Fourth Quarter Administration Shifts DOT Priorities AMB Property Lost $28 Million in 2009 CMA CGM Gets $80 Million Cash Injection Suggs Replaces Greer at Greatwide Toll Acquires Summit STB Backs Shipper on Union Pacific Rates Antwerp Launches Breakbulk Promotion Effort FMC Reorganizes Gothenburg Port Seeks Private Terminal Operators Finnish Dockworkers Strike Obama Proposes Fee for Rail Inspections Yusen Air & Sea Net Profit Tumbles 58.2 Percent Idled Container Ship Count Falls UPS Triples Net Profit in Fourth Quarter

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FEBRUARY 2, 2010
Maersk trials new fees Busan aims to up transhipment to battle volume fall Eurozone dole queue lengthens JB Hunt's intermodal volumes show promise China: 'don't erect trade barriers'

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FEBRUARY 2, 2010
Navios buys cape Angeliki Frangou-led Greek snaps up capesize resale at unnamed Korean yard for $55.5m. Four more Dean Taylor-led Tidewater taps war chest to pick up new vessels from "less well-capitalised vessel owners." 'They too will fail' Dismissing 'sham' bunkering charges as old news, Aegean Marine general counsel expresses confidence that founder will triumph in administrative cases. K-Sea hit again Barclays Capital analyst downgrades K-Sea Transportation Partners after dividend halt. HHI takes 10% South Korea's Hyundai Heavy Industries strikes deal that will see it own a stake of OSX's new shipyard. Horrid Halla? Expert witnesses clash at Sovcomflot trial over the quality of Halla's Incheon built ships. Bye Beta Star Bulk boss Akis Tsirigakis confirms the Nasdaq-listed company will wave farewell to capesize bulker. Miami River shut Tug sinking leads to closure of Florida waterway although so far no ship calls are impacted. Tidewater falls Offshore vessel giant sees net profits slump further than expected as vessel utilisation drops. Valuation wrangle Expert witnesses differ over premium payable for Sovcomflot suezmax newbuilding resales. Bunker buy Canada's Algoma takes ownership of fuel tanker previously on long-term bareboat charter. Why no IPO? Eitzen Bulk CEO Per Lange answers this and other questions relating to Orion merger. Precious dips Thai bulker owner posts substantial drop in annual profit as revenues are slashed. Atlantska back Croatian owner close to reinstating two cancelled panamaxes at Jiangsu Eastern at lower price. Ports stoppage Finnish terminals hit by 24-hour strike over dockers' contract terms. Design draw China's CIMC snaps up US marine engineer Friede & Goldman to boost its Yantai Raffles unit. Back to black Wilh Wilhelmsen will return to profitability in the fourth quarter but operating figures will be down, analysts say. 50 down Idle boxship numbers show "first significant decline" as operators reactivate their own vessels. Kiel clash Two general cargoships damaged in collision in German waterway. Subsea suprises Kristian Siem's offshore construction company reports better than expected fourth quarter results. Pirate pick-up Hijacked Zodiac ship Asian Glory back at Somali coast after collecting pirates from stalled mothership. Mercator expands Indian owner confirms rumours of big tanker acquisition plan, with bulkers also on menu. Help arrives Finnish government readies EUR 500m aid package to boost STX Europe's struggling Turku shipyard. Greek to scrap Paris Dragnis-led Goldenport sending ageing boxship MSC Mekong for demolition. Bulker double Croatian owner Uljanik goes to shipyard of same name for two 52,000-dwt dry cargoship newbuildings. Gahdir linked New name in frame for buy-out of Korea's Daehan Shipbuilding as Iranian group submits letter of intent. Icebreaker deal Swedish owner Transatlantic extends contract to operate and man state owned ice breakers. Sapura switch Malaysia's SapuraCrest, in which John Fredriksen has a major stake, names new chief executive. Green boost Port of Long Beach gives green light to further funding in bid to boost green shipping. Filitsa free Greek bulker hijacked off Somali almost three months ago en route to Mombasa after $3m ransom paid.

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FEBRUARY 2, 2010
FMC reorganizes Slow steaming helps, deliveries hurt STB issues rail study update Raytheon to develop rail nuke detectors Maritime programs take hit in '11 budget Toll acquires Summit Logistics K + N opens Belarus subsidiary

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FEBRUARY 2, 2010
Government approval of support to Turku Shipyard The Finnish government has approved the proposal from the Ministry of Employment and the Economy concerning support to STX Finland's Turku Shipyard. The measures involved aim at getting mainly domestic Don't count on low-sulphur exception says IBIA From January 1, 2010, EU member states must take all necessary steps to ensure that ships at berth in EU ports do not use marine fuels with a sulphur content Tor Anglia sale alerts Danish PM Danish MP Steen Gade, Socialitisk Folkeparti, has criticised the sale of the Tor Anglia for recycling in China, despite the vessel having been given a Green Passport by DNV. Steen Sailor fell overboard ' found dead 45 minutes later A Danish seafarer lost his life yesterday when he slipped while boarding the bunker tanker OW Copenhagen, lying in the bunkering area north of Port of Copenhagen. A search for Somali pirates make big money on piracy Somali pirates are making big money on piracy, a new report submitted by a Kenya-based anti-piracy watchdog reveals. Last year, Somali pirates raised some USD 60 million in CESA on the warpath After complaints from several of its members, the Community of European Shipyards' Association, CESA, will establish a cost investigation procedure aiming at assessing realistic production costs for "what seems to Finnish stevedores on strike The Finnish trucking and transportation union, AKT branch, has issued a port strike warning, beginning on February 19, 2010, unless a new collective agreement is reached before then. To speed Greek bulker freed after ransom The Greek-owned bulker MV Filitsa, which was hijacked some 400 nautical miles north east of the Seychelles on November 11 last year, has been freed after a ransom was

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FEBRUARY 2, 2010
UK shipping bunkers see increase in emissions in 2008 Report by the Department of Energy and Climate Change shows a 2 percent drop in GHG emissions, but CO2 from shipping rises by 10.6 percent. Brazilian oil firm opens Rotterdam office Petrobras has been active in the port's bunker market for over two years. Bunker prices climbing in Rotterdam, Hamburg Markets lack direction in South Europe. Extra incentives for ships to slow down Harbor Commissioners at the port give preliminary approval to around $9 million. IBIA warns against misrepresentation of EU sulphur rule 'No automatic dispensation' for ships with modifications plans in place for safe use of 0,1% sulphur fuel at berth. Prices firm in Middle East hub Fujairah price rises wipe out Monday's losses. Return to the 'spot market is likely' Bunker suppliers are 're-evaluating' the value of high volume term-contracts. Bunker prices bounce back Good avails in Singapore and Hong Kong, but Busan remains tight. No hedging strategy equals 'speculation' Global Risk Management seminar highlights importance of correct hedging strategies. UBT promotes Singapore staff Little impact from Karachi's ban on uncertified barges Bunker association says ban could lead to substantial losses for the bunker industry. Shippers, bunker firms lobby against rate rise Incoming Manila harbour operator suspends imposition of service fee after industry resistance.