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Shipping News

Supertanker rates heading for a 35% slump
The most profitable supertanker market in more than a year is heading for a 35 per cent slump as oil refineries from Japan to the UK shut for maintenance and leave a surplus of vessels.
Big Iraqi port being built
An Italian group will begin construction in a month's time on what will become Iraq's largest shipping port, the Iraqi Transport Minister Amer Abduljabbar Ismail announced on Monday. The facility at Fao, at the southernmost tip of the country, will be fed by a new rail line linking it to the Turkish border in the north.
Stricter rules on the cards after latest ship grounding
Australia flagged a review of shipping laws on Tuesday after a coal ship ran aground on the Great Barrier Reef and environmentalists warned that the Asia resource boom was turning the fragile reef into a 'coal highway'.

Strait Talk

Confidence rising - but dangers lurk
ON THE face of it, last week's gloomy assessment of the shipping markets - based mainly on Maersk Line's view of the liner business - is contradicted by the new survey of confidence levels in the industry.

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Shipping News

Supertanker rates heading for a 35% slump
The most profitable supertanker market in more than a year is heading for a 35 per cent slump as oil refineries from Japan to the UK shut for maintenance and leave a surplus of vessels.
Big Iraqi port being built
An Italian group will begin construction in a month's time on what will become Iraq's largest shipping port, the Iraqi Transport Minister Amer Abduljabbar Ismail announced on Monday. The facility at Fao, at the southernmost tip of the country, will be fed by a new rail line linking it to the Turkish border in the north.
Stricter rules on the cards after latest ship grounding
Australia flagged a review of shipping laws on Tuesday after a coal ship ran aground on the Great Barrier Reef and environmentalists warned that the Asia resource boom was turning the fragile reef into a 'coal highway'.

Strait Talk

Confidence rising - but dangers lurk
ON THE face of it, last week's gloomy assessment of the shipping markets - based mainly on Maersk Line's view of the liner business - is contradicted by the new survey of confidence levels in the industry.

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CKYH/MOL's bigger ships on merged transpacific routes US bureau cuts GDP fourth quarter estimates from 5.9pc to 5.6pc Chongqing river port's throughput up 1.6 pc in first two months Santos Brasil to issue US$54 million dividend Baltiysk-Ust-Luga rail-ferry test a success TNT Hoau can now provide nationwide day-definite service Santos Brasil to issue US$54 million dividend

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Box & tanker sectors seen cruising to recovery Vasan means business on enhancing port capacity Tuticorin Port sails past MoS' box traffic target with growth of 22.20 pc In 2009-10, Major Ports turn the tide Mormugao Port puts up outstanding show with 17 pc increase in 2009-10 cargo throughput FinMin wants depth guarantee given by DCI to KoPT for subsidy eligibility Equity fund to invest Rs 150 cr. in Phase-II of Karaikal port development FDI inflow of $24.7 billion is lower than last year Envoy portrays France as investors' paradise

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APRIL 5, 2010
Tideworks Technology introduces comprehensive intermodal terminal operating system Tideworks Technology, a leading provider of full-service terminal management and planning software solutions, has announced availability of Intermodal Pro, a comprehensive terminal... Hamburg Süd changes Mediterranean service Hamburg-based Hamburg Süd's Europe Mediterranean service (EMS) is calling at Aliaga (TCEEGE Terminal) instead of Izmir (Alsancak), with immediate effect. The first sailing was... Amsterdam seaports fourth in Europe Amsterdam's seaports secured the fourth position on the list of European ports in 2009. This performance clearly shows that the port region has been doing well compared to the rest...

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APRIL 6, 2010
Grounding could lead to Barrier Reef pilotage requirement Wärtsilä gets repeat orders for Russian MPSVs Sea Star and American Shipping Group realign leadership team

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APRIL 6, 2010
EU Navfor vows tougher action against Somali pirates Taskforce to take more aggressive stand as Dutch warship recaptures hijacked vessel EU Navfor optimistic prison sentences will deter pirates Bulker grounding sparks fears of Australian action Authorities almost certain to take action against Shen Neng 1 owner or operator Dannebrog axes SLS newbuilding orders Group cites delivery delays and financial problems at shipyard TCC set to launch second China-US link No-frills boxline explores new service that could be up and running by June Global port congestion worsening New high of 380 bulk carriers at anchor

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APRIL 6, 2010
Yard fire kills three, burns six SIX WORKERS were being treated for burns today at a Shanghai hospital after a shipyard flash fire killed three fellow workers 'Heaven/hell' seen for tankers TANKER operators can be certain of one thing, even in a time of mixed views on the sector's outlook, Bj'rn Knutsen, senior analyst at First Securities in Oslo, told Fairplay today TCC secures three more ships A CONTAINER shipping newcomer has nearly lined up the full string of charter vessels for its inaugural Great Dragon trans-Pacific service NewLead seals drop-down deal NEWLEAD Holdings announced today that it has completed its drop-down acquisition of four bulkers and two product tankers from controlling shareholder Grandunion Seadrill heads to NYSE THE NEW York Stock Exchange continues to woo new shipping names, with Norway's Seadrill announcing today that it will list on 15 April Malaysia arms curbs advance MALAYSIA has advanced legislation to control shipments of nuclear arms components, IHS Global Insight reported today Ferry hobbles into port HUNDREDS of passengers on a Stena Line ferry were safe today after nearly needing to abandon ship

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APRIL 6, 2010
Cold Train Links Pacific Northwest, Chicago Echo Global Logistics Opens Dallas Office AMB Leases Six Properties in Asia Estes Speeds Shipments in Midwest CSX Southern Lines, UTU Reach Accord UPS Expands Hybrid Fleet Nationwide American Shipping Group Realigns Management Western Express Offers $275 Million in Securities Ohio River Port Hires RailAmerica Unit India Port Traffic Surged 5 Percent in 2009 Short Line Traffic Slips in Latest Week Two Ships Escape Pirate Attacks Georgia Senators Seek Savannah Dredging Funds Peace Bridge Expansion Approval Expected Container Ship Deliveries Set to Soar HHLA to Shut One Hamburg Terminal

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APRIL 6, 2010
Boxships collide in Gulf of Izmit NZ loses coastal box service Oil prices climb on increased optimism Maersk to phase in OSS USD170 million of crude seized by pirates

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APRIL 6, 2010
TEN confirms offshore leap NYSE-listed Tsakos Energy Navigation says it will splash cash on a drillship within the next month. Vale launches antitrust assault Brazil's mining behemoth fires back at Euro steel group calling for EU probe into alleged anti-competition pact. You have a bulker to sell Baltic? Peter Georgiopoulos' Baltic Trading may tap the market to fund bulker buys if it finds top transactions. Bigger issue for TNK Teekay Tankers targets nearly $110m from enlarged share offer to pay for tanker trio. PDVSA hunts LPG pair Venezuelan oil giant's two-year time charter tenders trigger ravenous shipbroker bustle. Three men die in yard blaze Trio of China Shipping (Group) Company workers killed after fire on board a Liberian ship at a Shanghai facility. Grandunion adds to NewLead holding Dropdown deal transfers a near $7m stake in Nasdaq listed shipping company to controlling shareholder. Iran Faraz attack denied Reports that Iranian Navy foiled hijack of NITC tanker Iran Faraz in Gulf of Aden misplaced. Newbuilding bulge looms Containership deliveries to hit post crash high this month as delayed orders arrive. Boxships collide off Turkey French charterer says Zim's Odessa Star struck CMA CGM Verlaine amidships with hull breached. Psst...want to buy a shipyard If you have $400m to spare then there is a Brazilian yard for sale on the shipX auction website. Seadrill gets NYSE green light Shares in John Fredriksen's drilling business will trade in New York from mid April. Rudd rages over Reef crash Australian PM says it is "outrageous" Cosco-controlled bulker grounded 12km from shipping lanes. Demo breaks $500 barrier Indian ship breakers have take demolition prices through $500 per ldt psychological barrier. Laid-up boxship fleet falls Idle containership capacity sags below 9% and should continue to drop this month. Vietnam robbers hit ship Indonesian-owned asphalt/bitumen tanker is boarded by three armed men at palm oil jetty in Hiep Phuoc. Crew saved in blaze off Yemen Fate of India-flagged ship which caught fire in pirate-infested waters unclear as crew reaches Socotra. Second coal scoop for Marco Singapore-listed tug and barge operator secures a $20m transshipment contract in Indonesia. Hamburg Bridge harassed K Line containership sustains hull damage in attack by Somali pirates east of Gulf of Aden. Further growth in US cargo Box volumes at US ports continue on the road to recovery with 8% growth in April, says trade body.

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APRIL 6, 2010
Alphaliner: Containership deliveries to surge Dutch warship takes back containership Safmarine appoints chief commercial officer How serious was Bersin immigration violation? WWL to manage Tenn. VW plant logistics Vanguard opens Malaysian office, bonded N.J. CFS Forecast: Retail imports rebounding New port planned in Iraq NYK uses solar cells in Port of Tokyo

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APRIL 6, 2010
VLCC with USD billion cargo hijacked off the Somali coast The Marshal Islands flagged VLCC Samho Dream, was hijacked by pirates approximately 600 nautical miles off the Somali coast in the early hours of 4 April and has been taken

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APRIL 6, 2010
Europe has the shipping industry firmly in its sights Australian shipowners are warned of the impact of Europe's emissions trading scheme from 2011 and the need to be prepared. Strong gains in Rotterdam, Hamburg MGO prices in Rotterdam up by $31 pmt. KPC offers third fuel oil parcel for April lifting Offers expected by Wednesday for cracked 380-centistokes (cSt) cargo. Prices lack direction in Fujairah Fujairah MGO prices up by $8 per metric tonne. Cruise line recognised for 'voluntary efforts' Venice Blue Flag award goes to the same ship for third consecutive year. Trading manager leaves Chemoil Cem Saral resigns from company after eight years of various roles. Grounded bulker to be debunkered Australian prime minister promises 'to bring to account' those responsible for Barrier Reef spill. MOL's new technology research starts operation Will serve as R&D hub on ways to improve safety, reduce costs, and adopt environment-friendly technologies. Sinopec to set up new bunkering arm Players say it will be 'a new force' in China's bunker market. Singapore bunker prices firming Suppliers in other Asian ports trying to suppress price rises given 'well below-average' spot demand. Singapore underground storage construction delayed again Latest technical issues said to be more serious than the other project hiccups. Tanjung Pelepas bunker hub 'on track' Developer/operating company sources say project moving along and will be operational.