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US Gulf Coast tanker rates surge
The rate to charter oil and product tankers in the Caribbean and US Gulf Coast (USGC) region has surged by 50 per cent or more over the last week as tankers confront the massive oil spill in the region and brave stormy seas, shipbrokers and analysts said on Monday.
Morgan Stanley sees rise in supertanker rates
Supertanker shipping rates may surge if the oil price spread between contracts widens further, encouraging traders to use the tankers to store crude, Morgan Stanley said.
Rongsheng revives IPO plan
Jiangsu Rongsheng Heavy Industries Co Ltd has appointed Morgan Stanley and JPMorgan to finalise plans for its long-awaited initial public share offering in Hong Kong, aiming to raise up to US$1.5 billion in the fourth quarter, sources told Reuters yesterday.
Mississippi pilots vow to keep shipping lanes open

Strait Talk

Food for thought, GL-style
MUCH of the shipping world was in Singapore last week, but not quite all of it. Classification society Germanischer Lloyd (GL) - or at least its top man, Hermann Klein - was in London.

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Shipping News

US Gulf Coast tanker rates surge
The rate to charter oil and product tankers in the Caribbean and US Gulf Coast (USGC) region has surged by 50 per cent or more over the last week as tankers confront the massive oil spill in the region and brave stormy seas, shipbrokers and analysts said on Monday.
Morgan Stanley sees rise in supertanker rates
Supertanker shipping rates may surge if the oil price spread between contracts widens further, encouraging traders to use the tankers to store crude, Morgan Stanley said.
Rongsheng revives IPO plan
Jiangsu Rongsheng Heavy Industries Co Ltd has appointed Morgan Stanley and JPMorgan to finalise plans for its long-awaited initial public share offering in Hong Kong, aiming to raise up to US$1.5 billion in the fourth quarter, sources told Reuters yesterday.
Mississippi pilots vow to keep shipping lanes open

Strait Talk

Food for thought, GL-style
MUCH of the shipping world was in Singapore last week, but not quite all of it. Classification society Germanischer Lloyd (GL) - or at least its top man, Hermann Klein - was in London.

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Shipowners urge more enforcement on pirates and less on CO2 Hamburg Sud hikes rate on Europe-South America east coast lanes Tianjin throughput up 9.4 per cent in the first quarter Houston boxes up, repays Maersk US$1.5 million for clean fuel use MOL names 30-year veteran to head up Americas division Modern Terminals names chief commercial officer, general manager India's Container Corp posts 1.5pc profit decline in fiscal 2009 Novorossiysk Port shows growth, but carrier rankings change Kuehne + Nagel corners Russia with new branches NYK forwarder YAS posts 42pc profit hike to US$16.6 million Unifeeder extends continental services to Felixstowe to Teesport US Supremes again refuse to hear plea to close Chicago canal to carp Hactl's April freight 10pc up on 2008 highs, but caution reigns United and Continental to merge to form world's biggest airline FedEx launches HK to US, Europe services with 777F

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Tackle piracy from land side-Bimco President Oil tankers taking longer routes to avoid Somali pirates DHL is official logistics partner for 'Red Bull Chris Pfeiffer India Tour 2010' CMA CGM transports 4 sculptures to Shanghai expo Shipbuilding industry exhorted to modernise Bharati keen on more Great Offshore shares Rough diamond imports from Canada likely DP World ports post 15 pc growth in Q1 box traffic 5-6 ports on JSW Infrastructure's radar T.S.N. Murthy boards NMPT as Deputy Chairman Decision to scrap drawback on cotton yarn exports raises AIEC's hackles

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MAY 3, 2010
OOCL launching new service OOCL will introduce a new China/ Thailand/ Vietnam service (CTV) on 5 May, using 4 x 1,300 teu vessels. The port rotation will be Dalian, Xingang, Qingdao, Xiamen, Hong Kong, Ho Ch... More containers for Fesco The Russian shipping company Fesco transported 76,671 teu in its container shipping sector in Q1/2010, 22% more than in the same period in 2009. In the intermodal transport se... Chittagong port opening up The port of Chittagong (Bangladesh) is ready to carry out the government's decision to open it to neighbouring countries, according to the port authority chairman R.U. Ah... Leimgruber opens new logistics facility near Zurich Paul Leimgruber + Co, a Basel (Switzerland)-based transport and logistics company, opened a new branch office in Embrach-Embraport near Zurich at the beginning of May. The logistic... ING Real Estate builds new logistics premises for Dachser ING Real Estate Investment Management Germany GmbH is building a 22,600 sqm logistics facility in Neu Isenburg near Frankfurt/Main (Germany). Completion is slated for autumn 2... Davies Turner signs agreement with Deutsche Transport-Compagnie Davies Turner & Co Ltd, a UK-based independent multimodal transport provider, is boosting UK importers' and exporters' links with Bavaria (Germany) and Central Europe... ANA reports international cargo increase but fiscal year loss The Japanese carrier All Nippon Airlines (ANA) recently published its results for 1 April 2009 to 31 March 2010. It said that the net loss of USD 616 million for its past... American Airlines Cargo boosts frequency and capacity from Ireland The US carrier American Airlines (AA) has increased flights from Dublin (Ireland) to Chicago IL (USA) from four times per week to daily in its summer schedule. In additio...

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MAY 4, 2010
Keppel AmFELS delivers first of four Rowan EXL jack-ups Chinese shipbuilder withdraws Singapore IPO Princess Cruises confirms two-ship contract at Fincantieri Court House auction for AHL Shipping tanker Relief well drilling starts at Gulf spill site MAN Diesel & Turbo power for advanced RO/RO

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MAY 4, 2010
CMA CGM prepared to ditch newbuilding orders Line reveals extreme action as it returns to black, predicting significant profits for 2010 CMA CGM slams box line bail-outs Sustained container shipping recovery under way Box lines continue to announce capacity additions on selected trades, while shippers appear resigned to higher rate levels Carnival ties up $1.4bn Fincantieri deal Cruiseships headed for Carnival's upmarket Princess brand Brookfield studying Dalrymple Bay expansion Terminal expects to gain from demand surge as global economy recovers Netherlands considers ports merger Think tank suggests closer co-operation or a full-blown merger of Rotterdam and Amsterdam ports

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MAY 4, 2010
Spill causes gas shut-ins TWO OFFSHORE natural gas platforms in the Gulf of Mexico have been shut down because of the oil slick from the Deepwater Horizon disaster $68.4M voted for Savannah GEORGIA lawmakers have approved $68.4M in the state's 2011 budget to deepen Savannah's harbour to allow post-Panamax box ships to call Haiti changes port strategy HAITI'S WIN Group has told Fairplay it intends to expand its planned Port-au-Prince project now that the government has pledged to seek private investment in port infrastructure Talks set on French barge fight FRENCH barge operators are to meet shipping companies and brokers tomorrow in a protest that has has stopped traffic on northern and eastern waterways Crude Carriers takes VLCC option RAPIDLY expanding Crude Carriers Corp today disclosed an option from sponsor Capital Maritime & Trading for a VLCC newbuilding

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MAY 4, 2010
DOT Plan Would Reshape Freight Planning Rockefeller Promises Rail Reform This Year Montreal Container Tonnage Grows 11.1 Percent Containership Company Makes First Voyage Environmental Groups Tout Freight Rail Jobs Factory Orders Grew in 11 of 12 Months Flooding Disrupts Norfolk Southern Traffic Shipping Could Face Greatest Spill Impact Video: J.B. Hunt's Chad Thomas Lawmakers to Hear Clean Truck Testimony Video: Tucker Co.'s Jeffrey Tucker Video: Best Buy's Eric Morley Ocean Carriers Hike India Export Rates Hamburg Sud, CCNI Restore Asia-South America Services YRC Worldwide Loses $274 Million in First Quarter OOCL Starts China-Vietnam-Thailand Loop Georgia Approves Savannah River Funds CMA CGM Posts $1.4 Billion 2009 Loss, 4Q Profit TNT Profit Grows 90 Percent

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MAY 4, 2010
Taicang Dragon roars into LA CMA CGM pushes optimistic note Moderate Port of Montreal Q1 box traffic increase Obama: oil spill 'unprecedented' environmental disaster OOCL boosts coverage of fast growing China/South East Asia market

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MAY 4, 2010
Carnival ties up double deal Ink has dried on a contract to build two vessels for a US cruise giant at Fincantieri shipyard in Italy. Tankers tumble amid upgrade Deutsche Bank shipping sage sees upside in top tanker players following crude demand recovery. Alterna Capital eyeing acquisitions Connecticut-based private equity player with ties to Western Bulk poised to splash up to $150m on ships. Matson Navigation boosts A&B Oakland-based liner outfit aids parent Alexander & Baldwin in shattering the street's first-quarter estimates. Crude bags $108m option Evangelos Marinakis' newly-listed venture has a year to take VLCC from Capital Maritime. Tanker trouble for Odfjell Oslo-listed owner stays in the red for the first quarter as parcel tanker unit doubles its operating loss. Disappointing start for OSG Weaker spot rates and impairment charges send Morten Arntzen-led shipowner to its fourth successive quarterly loss. Red and black for CMA CGM Jacques Saade-led container line posts $1.4bn full-year loss alongside $270m first quarter profit. Yemen 'seizure' mystery Reports in Yemen of ship hijacking in Gulf of Aden likely a confusion with failed attempt on Saturday. Malaysian giant readies IPO Shipowner and builder says Bursa Malaysia float will power fleet growth and yard expansion. Courage in $10m cape buy Hsu Chih Chien-led shipowner coy on identity of bulker purchase to replace recently sold Cape Ore. Full City master jailed Captain of Cosco bulker that ran aground off Norway gets six-month sentence, while first mate jailed for two months. Fund cuts Globus stake UK hedge fund Kairos Investment sells a chunk of its shares in the London-listed shipowner. Murmansk made less in 2009 Russian tanker and bulker player marginally weaker last year as it cut costs to cope in downturn. Crewman rescued after fall NCL man saved by colleagues after going overboard Pride of America 13 hours out from Hawaii. Seized ships flee Islamists Pirates scramble from one Puntland haven to another as insurgent group moves in leading three ships to up anchor. Wan Hai erasing red ink Lower costs help Taiwanese container line reduce first quarter loss, but revenues still weaker. RINA ramps up tonnage, profit Italian class society predicting steady growth as it emerges stronger from tough 2009. Rongsheng IPO back on? Reports link Chinese shipbuilder Jiangsu Rongsheng with $1.5bn Hong Kong float after previous attempts fail. Western Bulk takes resale Tonnage-hungry Norwegian snaps up handysize bulker newbuilding in China thought to belong to CMB. Dryships offloads 1999-built bulker George Economou-led owner may have bagged up to $32.5m from Chinese buyer for Xanadu. Samsung shores up profit Korean shipbuilder's first quarter earnings almost double as revenue rises. Eidsiva readying Dyvi swoop Lars Solbakken-led owner is in talks to take over fellow Norwegian outfit Dyvi Shipping. Sevan close to E.ON deal Oslo-listed owner is in exclusive talks with UK energy firm for $535m FPSO contract. Paragon in weaker start Michael Bodouroglou-led bulker owner sees profits more than halve as weaker rates kick in. Groda to hand back ships Shares in First Ship Lease drop nearly 10% on news Russian charterer is to renege on product tanker charters. Energy Searcher damaged John Fredriksen-backed driller Northern Offshore reports hull damage to drillship off Vietnam. Traders hunt TBS tweendecker TBS caught up in court battle as two steel traders ask US marshal to seize and sell ship implicated in alleged incident. KOT bags tanker charters Trygve Seglem's Knutsen Offshore Tankers ties up shuttle tanker pair on long term fixtures. Samudera tanker robbed Armed robbers board chemical tanker off Anyer, Indonesia; threaten crew but no reported injuries.

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MAY 4, 2010
CMA CGM loses $667 million in 2009 MOL increasing rates June 1 Hamburg Süd restores capacity, hikes Europe/ECSA rates Analyst: Clear path for United-Continental merger NFI starts transportation brokerage unit The Datamyne appoints McCahill to CEO DHL expands forwarding in Pakistan Gulf ports remain open after spill TCC makes first L.A. call

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MAY 4, 2010
Fjord Line launches new ferry route Fjord Line A/S has opened the fastest connection between Hirtshals and Kristiansand with the HSC Ferry Fjord Cat. The new service will sail between the two cities on two

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MAY 4, 2010
Petrobras to state fuel sulphur content at delivery Will document actual sulphur on the Bunker Delivery Note because Brazil has ratified MARPOL Annex VI. Little price movement in Rotterdam, Hamburg Bunker prices in south Europe lacked direction on Tuesday. UK port prepares for more cruise ships Aegean says it will welcome enquiries from cruise operators. Slight gains in Middle East hub Good demand in Durban. DNVPS survey exposes 0.1% sulphur issues Lack of uniform regulatory standards noted, 15% experience technical difficulties caused by fuel changeover. Jail sentences following bunker spill Norwegian court finds two Chinese officers guilty of breaching pollution laws. BAF revisions from Swire Shipping Announces increases on several routes after a month of rising bunker prices. Russian fuel oil output shows growth Energy Ministry says output rose by 6.4% in the first four months of the year. IFO prices show mixed movements Busan prices increase on the back of higher demand. Nuclear-driven box ships 'will come' In view of rising pressure on shipping emissions, says classification society. Vitol opens $130 million Florida terminal 'State-of-the-art' terminal to inject $30 million per year into region's economy.