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Shipping News

Tanker rates sink to 2010 low
Crude oil freight rates on major routes fell to a 2010 low this week due to a rise in the number of unchartered vessels in the Middle East and a lull in Asia trading with China on holiday.
MPA seeks nominations for maritime awards
NOMINATIONS for the 2011 Singapore International Maritime Awards (IMA) are open.
French port strike in ninth day
A strike at France's top oil port, the world's third-largest, entered its ninth day yesterday, threatening to halt production at some refineries.

Strait Talk

Marine fuel takes centre stage
THE word from the Maritime and Port Authority of Singapore (MPA) is that, with three weeks to go, this year's Singapore International Bunkering Conference and Exhibition (Sibcon) is set to be a runaway success. This 16th Sibcon will run from Oct 27 to 29 at Resorts World Sentosa. MPA says the exhibition booths are fully booked and over 1,000 delegates have confirmed their attendance. This year's theme is 'Forging Ahead to Unveil a New Era for the Marine Fuel Industry'.

Shipping Times

UK govt favours dearer rail network
Britain's coalition government has abandoned proposals for a single high-speed rail line from London to the north of England in favour of a twin-route network that will cost '800 million (S$1.67 billion) more to build.

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Shipping News

Tanker rates sink to 2010 low
Crude oil freight rates on major routes fell to a 2010 low this week due to a rise in the number of unchartered vessels in the Middle East and a lull in Asia trading with China on holiday.
MPA seeks nominations for maritime awards
NOMINATIONS for the 2011 Singapore International Maritime Awards (IMA) are open.
French port strike in ninth day
A strike at France's top oil port, the world's third-largest, entered its ninth day yesterday, threatening to halt production at some refineries.

Strait Talk

Marine fuel takes centre stage
THE word from the Maritime and Port Authority of Singapore (MPA) is that, with three weeks to go, this year's Singapore International Bunkering Conference and Exhibition (Sibcon) is set to be a runaway success. This 16th Sibcon will run from Oct 27 to 29 at Resorts World Sentosa. MPA says the exhibition booths are fully booked and over 1,000 delegates have confirmed their attendance. This year's theme is 'Forging Ahead to Unveil a New Era for the Marine Fuel Industry'.

Shipping Times

UK govt favours dearer rail network
Britain's coalition government has abandoned proposals for a single high-speed rail line from London to the north of England in favour of a twin-route network that will cost '800 million (S$1.67 billion) more to build.

web site

Shipping News

Tanker rates sink to 2010 low
Crude oil freight rates on major routes fell to a 2010 low this week due to a rise in the number of unchartered vessels in the Middle East and a lull in Asia trading with China on holiday.
MPA seeks nominations for maritime awards
NOMINATIONS for the 2011 Singapore International Maritime Awards (IMA) are open.
French port strike in ninth day
A strike at France's top oil port, the world's third-largest, entered its ninth day yesterday, threatening to halt production at some refineries.

Strait Talk

Marine fuel takes centre stage
THE word from the Maritime and Port Authority of Singapore (MPA) is that, with three weeks to go, this year's Singapore International Bunkering Conference and Exhibition (Sibcon) is set to be a runaway success. This 16th Sibcon will run from Oct 27 to 29 at Resorts World Sentosa. MPA says the exhibition booths are fully booked and over 1,000 delegates have confirmed their attendance. This year's theme is 'Forging Ahead to Unveil a New Era for the Marine Fuel Industry'.

Shipping Times

UK govt favours dearer rail network
Britain's coalition government has abandoned proposals for a single high-speed rail line from London to the north of England in favour of a twin-route network that will cost '800 million (S$1.67 billion) more to build.

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Maersk dissents from TSA plea to retain liner consortia China to invest US$5 billion in Greece shipping industry Hapag-Lloyd increases bond issue from US$200 to $700 million CMA CGM christens 11,400-TEU ship in Malta Yinchuan to build Muslim industry distribution centre Singapore continues fighting piracy, boosts shipping productivity NOL chief Widdows calls for TSA-WTSA transparency Chittagong monitors make recommendations to ease clogging Widdows remains chairman of World Shipping Council board South Carolina ports adopts new system to raise productivity New Jersey exports 20pc to UK, still tops but slipping Hactl September cargo up 14pc to 242,043 tonnes, Q3 rises 19pc Cathay trims cargo plan after glitch delays 747-8F delivery Dubai Airports predicts cargo to soar 48pc by 2015 Air capacity struggles to meet needs of India boom French regional airports next up for partial privatisation

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100 new boxships on EVERGREEN LINE's shopping list 11,400-TEU CMA CGM Pegasus christened Allcargo wins two awards at MALA 2010 CBEC eases norms for conversion of shipping bills Change of guard at Höegh Autoliners Japan Cosco chief sees good times ahead as US & Europe recovers CSL hands over Rs 16.87-cr.dividend cheque to Vasan DAMCO takes over Maersks New Jersey logistics operations GAC acquires Finnish ship agency in Baltic GE Shipping delivers Jag Lamha Geneva giant takes delivery of 13,798-TEU MSC Emanuela Germanischer Lloyd launches database service Hapag-Lloyd offers two services between North Europe & West Africa KUEHNE+NAGEL offers 18 new LCL services to Asia-Pacific New box yard expands Colombo port capacity NYK LINE extends deal with NZSM S&P boosts Zim's credit ZIM rating by 4 grades Sakhalin Shipping offers Shanghai-Vladivostok service T.S. LINES to enter Far East to US West Coast trade UASC entry in South-East Asia-Australia trade a first Vasan spells out SCI's plan on tonnage acquisition Wan Hai Lines H1 revenue up by 33.8 pc YANG MING LINE H1 revenue up by 38 pc Indonesia implements Asean FTA with India Adanis eyeing Brisbane port? Ennore Port IPO on the horizon Frost & Sullivan study sees higher CAGR achieved by non-major ports KPT adopts e-Tendering process Surcharges at Chittagong port raise export cost by 10 pc 4 pc farm growth seen vital to sustain GDP level Basu assures exporters of MoF support Digvijay sees textile industry overcoming Chinese menace Edible oil export banned for another year Forex reserves swell by $ 3.8 bn State aiming to set up single-desk clearance for fresh investments Tender floated to import phosphate

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OCTOBER 4, 2010
EGL/Ceva and US department of justice agree to settle EGL Inc, a subsidiary of Ceva Group Plc, recently entered a plea agreement with the antitrust division of the US Department of Justice (DOJ) to resolve the latter's ongoing investi... Raben Ukraine: innovative solution in fresh logistics sector On 1 October, the Raben Group rolled out an enhanced logistics offer for fresh products in Ukraine. The new service pertains to fresh produce that requires a controlled temperature... WCA: Sino Conference 2010 breaks all records The 7th Annual Sino-International Freight Forwarders Conference is underway with over 1,400 delegates coming from 600 cities and 171 countries. The event continues to grow in size,...

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OCTOBER 5, 2010
Vancouver, BC cruise season ends with ISLAND PRINCESS departure Commerce undersecretary leads trade mission to Baghdad, Iraq Mitsui to participate in program bringing clothes to needy children IMO committee advances ship energy efficiency goals OOCL moves to next phase of revenue recovery scheme

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OCTOBER 5, 2010
Mystery deepens over HHI order cancellations European owners deny involvement while others decline comment over cancellation of a four-ship order UK pilots call for government regulation UK ports 'stocktake' Vale's fleet ambitions loaded with super-sized risks Ship finance thaw fires up syndicated loan activity Dealogic figures show signs a sustained lending thaw is emerging as loans hit... Syndicated lending falls in second quarter Shipping groups set to join forces Eleven major organisations to form powerful coalition to raise shipping's profile on... Sadler unveils plans for united industry... Crude tanker earnings downgraded Fourth quarter estimates revised as rates stay low Market searches for fourth-quarter boost

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OCTOBER 5, 2010
Metrostar deal pressures GenMar GENERAL Maritime has required a bridge loan to cover one of its Metrostar buys, slashed dividends, and is considering asset sales French crews urged to strike A LEADING French seafarers' union has called on its members to stage a strike over plans for an increase in the country's retirement age New UK port to generate '£3.2Bn' THE LONDON Gateway port project will generate £3.2Bn ($4.9Bn) for the British economy, according to a new report released today Cigarettes seized in Greece THE GREEK coastguard has intercepted a small general cargo ship carrying more than 32M illegal cigarettes Channel closure blocks ships THIRTY ships are waiting to leave or enter the Houston Ship Channel, which remains closed after a barge accident, Fairplay was told today Capesize rate rise boosts BDI THE BALTIC Dry Index gained 3.7% today on a rise in Capesize rates VLCC rates plunge VLCC RATES have slumped 15% so far this week as persistent vessel oversupply undermines owners' efforts to secure better rates South Hook takes more Qatar gas Drybulk rate rise seen Hapag completes refinancing Richards Bay coal shipments jump GE Shipping to buy eight ships More French port strikes planned Russian oil hits new record

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OCTOBER 5, 2010
Etihad Crystal Cargo to Launch Hong Kong Service DOT Stimulus Spending Tops $20 Billion US Steel Imports Dip 11.2 Percent in August Port of San Francisco Powers Cruise Ships at Berth Yang Ming to End Free Chassis at Nine Cities Houston Ship Channel to Re-open Tuesday Night NYK Chief Warns Carriers on Capacity Emirates Joins Hyundai's China-India Express APL Ships to Use Cleaner Fuel At Hong Kong French Ports, Railroads Face 24 Hour Strike Safmarine Creates New Unit for Indian Subcontinent DB Schenker Merges Auto Related Rail, Logistics Units Idle Container Fleet Set to Soar in Fourth Quarter

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OCTOBER 5, 2010
Cable talks up London Gateway Hapag-Lloyd bonds in demand French dockers increase strike action NITL supports cull to US antitrust immunity HMM to phase out chassis

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OCTOBER 5, 2010
Italy's oldest owner dies Fratelli d'Amico president Giuseppe d'Amico passes away after nearly 70 years in the business. SCI unveils $292m offering Indian government green lights SCI share sale as state-controlled shipowner seeks cash to fuel fleet expansion. Sembcorp scoops Atwood orders Singapore-based shipbuilding cartel poised to pocket nearly $1bn as US drilling player launches spending spree. Texan snatches Seacor FSV US offshore owner continues to shed tonnage as CIT Financial sells the Phyllis McCall II. RS Platou chops tanker forecasts Norwegian finance house slices VLCC rate estimates and downgrades trio of heavyweight owners. TGS ties up Gambia survey gig Norwegian-flagged seismic survey vessel sails to African coast as Oslo-listed charterers land 3D contract. Agents disrupt Canadian dope deal Canadian cocaine cartel busted in Port of Vancouver as agents uncover $9m stash hidden in shipping containers. Burke to bag $100m from DVB IPO hopeful Ridgebury Tankers lines up facility with banking giant DVB ahead of Nasdaq float. Adani in for Brisbane Indian coal group vying with two others to run Australian port in state sell-off. Navy fends off bulker raid UK's HMS Montrose deters attempted hijacking on North Korean vessel in Gulf of Aden. Great Offshore raising cash Indian owner will sell shares or issue bonds to bank $200m for fleet renewal. NSR cargoes to boom Russia expects vessels to carry 30m tonnes through arctic in near future, up from 3m tonnes now. Delphin back in business Seized German-chartered cruiseship sails from France after legal dispute "settled". Steen set for Nordea exit Nordea shipping chief Carl Steen will step down next year and be replaced by US high-flyer Hans Kjelsrud. Marco Polo in $15m cash grab Singapore-listed outfit raising funds in private placement to fund offshore expansion. Supply ship goes aground Farstad's Far Saga suffers hull damage after grounding off Floro, Norway. Lay-up rise on the horizon Analyst predicts 5% of boxship capacity will become idle as recovery slows down. New tanker suffers breakdown Chinese-built chemical carrier Pyxis Beta needs a tow off France after losing power. Maersk wants firmer contracts Danish owner could axe so-called 'gentlemen's agreements' as it eyes more price and capacity control. Oz trip just the job for Fairstar Fugro Seacore charter will aid results and help reposition one of its vessels, owner says. Bharati to double orderbook Indian shipbuilder expects new offshore and defence orders over next 12 months. SITC scales back IPO Chinese boxship owner sets offer price at bottom end for Hong Kong initial public offering Tanker grounds off Canada Another Westwood Group vessel runs aground off Labrador but swiftly refloated with no reported pollution. Regent cancels Med cruise Regent Seven Seas pulls plug on Seven Seas Voyager Athens departure due to problems with pod. Arab states target safety Six member Riyadh MoU in three month concentrated safety of navigation inspection campaign. Suicide on cruiseship in Med Note found by father sparks huge search for Israeli man who went overboard vessel off Cyprus. Cargoship saved from grounding Norwegian tug stops drift of Lilly Mitchell 1km from shore after it lost power.

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OCTOBER 5, 2010
Emirates joins Hyundai China/India loop Safmarine creates Indian Subcontinent region Hankins named Donjon-SMIT president Alaska Air adds daily Seattle/St. Louis link UPS Freight to increase rates Wal-Mart eyes African retail market P&G sets sustainability goals U.S. pressed to control DRC mineral exports Work continues to open Houston ship channel Mundra to add container capacity SeaFreight leases Port Everglades terminal space

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OCTOBER 5, 2010
New ferry designs from Deltamarin and Wärtsilä Wärtsilä and Deltamarin present a series of jointly developed new ferry designs at the Interferry Conference in New York, on October 3 to 6, 2010. Wärtsilä and Deltamarin have developed Fayard inaugurates new dock Fayard has inaugurated another dock on its new plant at the former Odense Steel Shipyard at Munkebo near Odense. The first vessel in the new dock was the German owned

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OCTOBER 5, 2010
Mexico's Marinoil to offer low sulphur fuel Company services new port. Arctic route to see tenfold increase in traffic Murmansk region sees potential for energy and transport sectors. Rotterdam firming but elsewhere markets mixed Hamburg quiet as players wait for prices to fall. 'Long path' ahead on market-based measures Deep unease at MEPC 61 about purpose and effect, impact on trade; intersessional meeting agreed to enable 'fruitful discussion' at next MEPC. Fujairah prices barely move Durban distillate grades show double-digit gains. Year-on-year rise in fuel oil exports through Baltic port But Tallinn volumes dip month-on-month. VLCCs provisionally booked for fuel oil cargoes Reports say vessels have been fixed for October loading, arriving in Asia in the next two months. Noble gets accreditation from Singapore's MPA Singapore's list of accredited bunker suppliers now at 80. Slight gains in bunker prices, demand mixed Mostly mixed demand at key Asian bunker ports, according to traders. Bunker operations hit as strike continues Supplier unable to deliver at French oil terminal. Singapore Brightoil's biggest revenue generator Surpassing revenues generated from its home base in mainland China. MSC to lower bunker surcharges Surcharges from North Europe and Mediterranean to US to drop by $18-22 per TEU in November. China and Greece to set up GHG research center Cutting shipping's GHG emissions is part of modernising Piraeus, says Chinese Premier Wen Jiabao.