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Shipping News

Shippers navigate choppy waters as rates shift
Weak daily freight rates remain a headwind for tanker companies, while dry cargo operators will likely see some upside as minor bulks and coal drove up rates for smaller vessels in July-September.
Tanker owners face years of losses from satellite tracking
Oil tanker owners face a five-year 'nuclear winter' of unprofitable charters as satellite vessel tracking weakens their bargaining power, said Tufton Oceanic, manager of the world's largest shipping hedge fund.

Strait Talk

Sibcon comes up roses
OPENING last week's Singapore International Bunkering Conference and Exhibition (Sibcon) at Resorts World Sentosa, Minister for Transport and Second Minister for Foreign Affairs Raymond Lim said that the bunkering industry faced new challenges as well as opportunities.

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Shipping News

Shippers navigate choppy waters as rates shift
Weak daily freight rates remain a headwind for tanker companies, while dry cargo operators will likely see some upside as minor bulks and coal drove up rates for smaller vessels in July-September.
Tanker owners face years of losses from satellite tracking
Oil tanker owners face a five-year 'nuclear winter' of unprofitable charters as satellite vessel tracking weakens their bargaining power, said Tufton Oceanic, manager of the world's largest shipping hedge fund.

Strait Talk

Sibcon comes up roses
OPENING last week's Singapore International Bunkering Conference and Exhibition (Sibcon) at Resorts World Sentosa, Minister for Transport and Second Minister for Foreign Affairs Raymond Lim said that the bunkering industry faced new challenges as well as opportunities.

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China Shipping Container Lines quarterly profit soars to US$318 million CSAV zaps loss as quarterly sales soar 133pc to US$921 million Shipping industry IPOs lose sparkle OOCL unveils mobile rates of exchange service Britain's transport sector workforce shrinks 18.9pc Asciano shareholders sizzle at boss bonus after US$926.4 million loss BIMCO, IBIA compile a guide on bunkering Manzhouli road port's freight volume up 12.6pc Northern California barges hope to take freight from trucks Hyper-stringent security expected to drive up logistics costs China plans to double its civil aircraft numbers by 2015 ANA fined US$73 million for price-fixing air freight Singapore Airlines offers 2nd A380 Sydney-Singapore service

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ABG bags $ 440-m jack-up rigs order Maharashtra Governor to inaugurate 'INMARCO-INAvation, 2010' on Dec. 9 Seatrade honours top performers of maritime world in Dubai Vasan discusses maritime issues with Norwegians WISL comes into black in Q2 Global pepper traders to converge on Kochi from November 8 Gulf turns to India for better quality fruit & vegetables Trade with US to double in 5 years White shrimps hold out hope for exporters Belgian co. to dredge Tuticorin Port CoPT invites bona fide investors to develop cargo & logistics hub 'just across ICTT' KPT among 5 shortlisted for ICSW Port of Year award MPSEZL lone bidder for Azhikkal port development Infra projects to miss 11th Plan investment targets ...largest-ever export credit support likely this fiscal Export credit to be costlier now-Fieo Exporters suffering rising payment defaults from US & Europe put ECGC in a spot Exports shoot up by impressive 28 pc in H1 Forex reserves dip by $1.03 bn Initiatives certainly paid off, asserts Fieo Onion MEP pruned by $ 50/tonne Pranab gets more optimistic on GDP front RBI hikes rates by 25 bps

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NOVEMBER 1, 2010
Basel-Mulhouse airport: two changes to the board of directors In his letter of 18 October 2010, federal councillor Moritz Leuenberger, director of the Switzerland's federal department of the environment, transport, energy and communications (... DSV sees upward trend in Q3/2010 The global transport and logistics service provider DSV A/S, based in Br'ndby near Copenhagen (Denmark), has published its results for the first nine months of business year 2010. ... C.H. Robinson reports higher Q3/2010 profit and revenue The Eden Prairie MN-based US third party logistics service provider C.H. Robinson Worldwide reported a Q3/2010 net profit of USD 102.6 million, 7.5% more than the same 2009 period.... FedEx Ground opened new distribution hub in Portland CEP service provider and integrator FedEx has opened a major new US distribution hub for its small package ground delivery unit, FedEx Ground. Part of the company's eight-year-old ... US government investing in railway infrastructure The port of Los Angeles (CA) has been awarded USD 16 million for its West Basin rail yard project from the US national infrastructure investment programme known as Tiger II. The pr... New No.9 berth at Sassnitz ferry port speeds up ship handling Harm Sievers, managing director of Sassnitz ferry port (Germany), recently reports that the new number 9 berth has been completed. He added that "the new quay is a step t... World's airports deplore the recent attempts to sabotage aircraft At its annual general assembly in Bermuda the world governing board of Airports Council International (ACI), issued a statement saying that it condemned all recent attempts to sabo... Carolyn Kleinjohann receives Thesis Award The German forwarding company Kube & Kubenz has announced that its sustainability officer Carolyn Kleinjohann was presented with the Thesis award for young logisticians at...

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NOVEMBER 2, 2010
Gulf jack-up operator eyes "strategic alternatives" Salazar proposes Ocean Energy Safety Institute Tug Mary Ann Moran now in service Concordia Maritime secures financing for Suezmax OSG results reflect tanker industry challenges ABG Shipyard reports jack-up rig contracts

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NOVEMBER 2, 2010
Port of Tacoma schedules three 2011 budget meetings Oregon governor extending Middle East business mission BNSF names Carl Ice as president and COO Alaskan Way replacement project receives two bids below price limit Boeing predicts air cargo to boom in coming years

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NOVEMBER 2, 2010
Dohle start-up poses threat to Isle of Man Steam Packet Company may be forced to reduce passenger services after competitor woos retails giants UK delays decision on equal pay policy UK study urges equal wages for foreign crew UK owners set to keep race law wages get-out European ports to reward clean ships Vessels to get port dues rebate under newly-launched environmental ship index Why green agenda should highlight blue... Deluge of new tonnage swamps panamax market to depress rates Owners face even fiercer competition for cargoes as newbuilding build-up meets Diwali... Tonnage glut rains down on wet and dry... Charterers re-emerge to back boxship newbuildings Third quarter of 2010 sees highest level of new orders in more than two years Greek foray into box market is no mere fad

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NOVEMBER 2, 2010
OSG losing streak continues THE SURPRISE wasn't that Overseas Shipholding Group reported further losses today, but rather that the losses weren't even greater Environmental index could raise port dues AN index based on a ship's emissions may lead to higher port dues, it emerged at the initiative's launch in London yesterday, to recover the cost of discounts offered to qualifying ships Concordia eyes expansion CONCORDIA Maritime's president Hans Nor'n hinted today the Swedish company might be expanding ' and has acquired the financing for its new tanker OOCL cuts more chassis OOCL HAS decided to stop providing truck chassis for container drayage in seven more US cities NCL returning to junk bonds NORWEGIAN Cruise Line today revealed plans to return to the junk-bond market and raise an additional $200M in debt FMC studies EU liner laws US REGULATORS are polling the maritime industry to assess how the EU's repeal of the liner conference block exemption in 2008 is affecting US trades Tropical Shipping falls short CARIBBEAN box line Tropical Shipping reported another weak quarter today, as island volumes remained weak and costs escalated Orders boost shipyard stocks EU sends border force Channel swim peril warned Green ships to get Dutch treat France counts costs of strikes Tanker rate lull seen until 2H11 CICT wins $100M loan CSAV returns to profits in 3Q

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NOVEMBER 2, 2010
Hanjin Settles Dispute over Container Ownership OOCL Using Low-Sulfur Fuel in Hong Kong Port Manatee to Receive $9 Million TIGER II Grant USPS Hikes Rates 3.6 Percent Jacksonville Container Volume Gained 10 Percent Dutch Ports to Reward Clean-Burning Ships Netherlands Suspends Yemen Shipments Ferrovial to Sell Swissport CN, Stevedore Plan Chicago Multi-Modal Steel Facility Freight Index Falls 5.2 Percent in October FreightCar Completes DTE Rail Services Purchase CSAV to Restart West Africa Service CMA CGM Tests New Eco-Containers TCI Profit Surges 38 Percent IATA Warns Against Hasty Security Actions OOCL Dropping Chassis at Seven More Cities ANA to Pay $73 Million Price-Fixing Penalty Emirates Boosts Cargo Revenue 48.4 Percent BNSF Splits CEO, President Roles

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NOVEMBER 2, 2010
Obama set to get a bruising CMA CGM arms box: 'wait for investigation' says Iran Overheating economies hike interest rates Wan Hai and Yang Ming see Q3 results spiral Wells to step down as acting ceo of Transnet

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NOVEMBER 2, 2010
Hartmann hooks gas fixture Diversified German owner hires out one of three LPG tankers tied to 2008 boxship order swap. Genmar sales chatter off target Genmar Alexandra is not a sales candidate despite talk of $12m deal, TradeWinds is told. ENI success for Christen Sveaas Rederi AB Transatlantic confirms $50,000 per day charter for AHTS newbuilding. Hammer blow for Pareto Securities Oil analyst Ole-Rikard Hammer decamps to RS Platou to take over as managing director of its research arm. Polarcus struggles to shed red Ebitda jumps but third-quarter profit slips at Oslo-listed seismic owner as it racks up impairment charges. OSG reshuffles its orderbook New York-listed owner switches brace of LR1s for two aframaxes with later delivery. Signs all positive for Finnlines Finnish ro-ro owner continues on profitable course as freight business improves. Admiralty eyes Sevmash deal St Petersburg shipyard's shareholders to decide on move for rival plant's "property". OSG's red run continues in Q3 Morten Arntzen-led owner spends sixth successive quarter in the red but loss is less than Wall Street feared. Irish ship adrift off the UK Cargoship Red Duchess hoping to anchor in shallower water off Scotland after engine failure. GLDD strikes gold in US Gulf Nasdaq-listed dredging giant sees Q3 profit swell as Deepwater Horizon sparks boom in berm business. OSG shows off pooling power Mitsui OSK, Koenig & Cie and Dr Peters are all new names placing ships with the New York-listed owner. Uljanik earning more in 2010 Croatian owner's bulker and tankers enjoying much stronger year so far. Concordia newbuild covered Hans Noren-led owner secures 70% debt financing for Samsung suezmax. Fire hits vessel in Finland Firefighters bring cargo hold blaze under control on Larensediep at Raahe. Sovcomflot confirms mammoth order Russian owner signs on in Korea and at new Daewoo-Zvezda yard for six aframaxes and LR2s, with six options. NCL rejigs debt ahead of IPO Miami-based cruise line to sell $200m of bonds to pay off other borrowings. New VLCC opts for storage Trafigura lining up deal for Oman Shipping's Saham to hold Asian gasoil off West Africa. Green ships to earn a discount Ports say they will cut fees if ships clean up and cut emissions in a new ratings scheme. Arne sells Royal Caribbean shares Norwegian owner Arne Wilhelmsen sells off $40m worth of stock in the cruise company he co-founded in the 1960s. Hyundai Merchant banks on paper Korean shipowner looking to raise $440m through a new bond issue. China Dredging makes US move Chinese owner eyes western IPO as it merges with US-reporting Virgin Islands shell company. STX linked to SCI boxships Indian owner close to agreeing deal for three 6,500-teu vessels at Korean shipyard. Aker Floating spies FPSO progress Oslo-listed owner has a positive market view for 2011 and beyond after doubling of operating profit in Q3. KHI returns to the black Japanese shipbuilder Kawasaki Heavy Industries has returned to profit in the first half of the year. ABG lands jack-up order Drilling & Offshore spending $440m on two rigs at India's biggest shipyard. BP and Subsea 7 in $100m pact Kristian Siem-controlled offshore firm secures lucrative deal with oil major which will keep a multi-functional support vessel busy. Mermaid seeks rig funds Thoresen Thai's offshore drilling arm plans private placement targeting Norwegian investors. Oaktree in at Gulmar Distressed debt and turnaround investor pumps over $100m into Middle East offshore vessel operator. Ashika perjury charges dropped Case against Tongan law lord Ramsay Dalgety dismissed on technicality in Princess Ashika trial. DSME scores $510m Chevron deal Seoul-listed shipbuilder secures platform order on a good day for South Korean yards. DFDS wades into swimming row Danish owner angers charities by saying too many people now swimming across busy English Channel. Steam Packet jobs in peril Loss of freight contracts to Dohle could mean passenger services cut at Isle of Man ferry company. Steady as it goes at Forth UK ports group Forth says tonnage volumes increase 8% year-on-year as bulk terminal volumes jump. Hamburg Sud gets greener Hamburg Sud and Alianca latest owners to support voluntary pollutant reduction in Hong Kong.

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NOVEMBER 2, 2010
FMC seeks input for EU liner regulation study China COSCO earnings soar China Shipping profit climbs U.S. halts Yemen package shipments UPS to raise rates 4.9% in 2011 Swiss markets holiday belly capacity Greatwide Logistics makes personnel changes Girl Scouts criticized for new sourcing strategy USDA reestablishes ag trade advisory committees Yuan heads Longistics' global business development NVO files complaint against Damco, Maersk Schneider Logistics sale completed DHL offers Shanghai/Tokyo LCL service

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NOVEMBER 2, 2010
Concordia secures Suezmax tanker financing Swedish Concordia Maritime has secured financing for the Suezmax tanker Stena Supreme currently under construction at the South Korean shipbuilder Samsung. Delivery is set for the second quarter of 2012 Dutch ports to reward clean ships The Dutch ports Amsterdam, Moerdijk, Dordrecht and Rotterdam have decided to introduce discounts on harbour dues for vessels performing well in a newly established environmental index, Environmental Ship Index (ESI Deutsche Seereederei sells shares in Scandlines Deutsche Seereederei has sold its 20 per cent share in Scandlines A/G. The shares have been taken over (50 percent each) by the two other owners of Scandlines, 3i Torm sells bulker pair ' reports USD 16 million loss D/S Torm has sold two kamsarmax bulk carriers under construction. The Torm Karen and Torm Kate will be delivered to Torm in the first quarter of 2011, and upon Wärtsilä and Russian yard group in joint set-ups Wärtsilä and the leading Russian shipbuilding group United Shipbuilding Corporation have signed a memorandum of understanding with the aim of "establishing joint set-ups in the areas of developing modern

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NOVEMBER 2, 2010
K-Sea releases positive quarter results US barge operator posts positive results for quarter, however still cautious of market trends moving forward. Steady gains in Fujairah NYMEX showing gains of more than $1 in early trading. Bunker market firms in key ports Buyers in Gibraltar are waiting for direction in the market. RWE to set up fuel oil trading desk in Singapore German utility group will be competing for 'ever shrinking pie'. New warning on piston ring breakages Viswa Lab reports six recent cases blamed on a combination of high MCR, asphaltene and CCAI values in the bunker fuel. Tanker newbuilds will be designed to burn low-sulphur fuel Sovcomflot says its product tankers will have an efficiency index 10% higher that ships of a similar class. Rotterdam tank terminal development sees healthy interest Site offered for developing Tank terminal Europoort West has direct deep-water access. Singapore LNG terminal to start operations by 2013 Initial capacity up from 3.5 Mtpa to 6 Mtpa, says minister. Bunker prices up at key Asian ports Demand for bunker fuel generally average, traders say. Future holds 'bunker challenges' for shipping industry Challenges arise from lowering the global sulphur limit and the expansion of ECAs, says DNV president. WFS shares trading higher ahead of Q3 release Analysts estimate WFS to post profit of $0.57 a share on $4.45 billion revenue.