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Shipping News

Weak demand may pressure tanker rates
Freight rates for dirty tankers to Asia are expected to trade near this year's lows with a lull in traffic due to weak seasonal demand, traders said yesterday.
Boat Asia to stay at Marina at Keppel Bay
BOAT Asia has signed on for another three-year stint at Marina at Keppel Bay, its organiser, TMX Show Productions, announced yesterday.
Iran storing abundant fuel oil supply on VLCCs
Iran has been storing straight-run fuel oil on supertankers for at least three months, in an unprecedented move prompted by China's poor feedstock demand and financing difficulties faced by buyers due to Western sanctions, industry sources said recently.

Strait Talk

Not quite plain sailing in the near term
TWO press releases attracted my attention this week. One brought encouraging news, the other was gloomier.

Shipping Times

Labour strikes cripple France and London
Strikes hobbled public transit across France and in London yesterday, with tourists and commuters bearing the brunt of a wave of discontent over government austerity measures.

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Shipping News

Weak demand may pressure tanker rates
Freight rates for dirty tankers to Asia are expected to trade near this year's lows with a lull in traffic due to weak seasonal demand, traders said yesterday.
Boat Asia to stay at Marina at Keppel Bay
BOAT Asia has signed on for another three-year stint at Marina at Keppel Bay, its organiser, TMX Show Productions, announced yesterday.
Iran storing abundant fuel oil supply on VLCCs
Iran has been storing straight-run fuel oil on supertankers for at least three months, in an unprecedented move prompted by China's poor feedstock demand and financing difficulties faced by buyers due to Western sanctions, industry sources said recently.

Strait Talk

Not quite plain sailing in the near term
TWO press releases attracted my attention this week. One brought encouraging news, the other was gloomier.

Shipping Times

Labour strikes cripple France and London
Strikes hobbled public transit across France and in London yesterday, with tourists and commuters bearing the brunt of a wave of discontent over government austerity measures.

web site

Shipping News

Weak demand may pressure tanker rates
Freight rates for dirty tankers to Asia are expected to trade near this year's lows with a lull in traffic due to weak seasonal demand, traders said yesterday.
Boat Asia to stay at Marina at Keppel Bay
BOAT Asia has signed on for another three-year stint at Marina at Keppel Bay, its organiser, TMX Show Productions, announced yesterday.
Iran storing abundant fuel oil supply on VLCCs
Iran has been storing straight-run fuel oil on supertankers for at least three months, in an unprecedented move prompted by China's poor feedstock demand and financing difficulties faced by buyers due to Western sanctions, industry sources said recently.

Strait Talk

Not quite plain sailing in the near term
TWO press releases attracted my attention this week. One brought encouraging news, the other was gloomier.

Shipping Times

Labour strikes cripple France and London
Strikes hobbled public transit across France and in London yesterday, with tourists and commuters bearing the brunt of a wave of discontent over government austerity measures.

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The Containership Company reports US$3 million first half loss DP World becomes No 3 port operator after PSA and Hutchison Xian-Taiwan trade value amounts to US$200 million China-Ukraine first half trade value up 31.3pc to US$3.3 billion China auto output up 35.4pc to 10 million units through August CEVA offers Alberta Express energy service to US Gulf Citigroup takes pessimistic view of long-range box trade profits Mexico's ports to be equipped with 50 Kalmar terminal tractors Sweden's Greencarrier opens new branch in Shenzhen Greenbrier receives bumper order for 53-footers China Airlines to start all-cargo services to mainland coast Dubai's new airport hopes swell as next world cargo hub 100pc air screening sparks fresh produce shipper groan

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Assocham seeks industry status for logistics sector Dry bulk freight rates may go for a toss MOL begins 45-day safety campaign Reactivated tonnage, new deliveries impacting rates Rotterdam Rules coming under focus on Friday Shipbuilding capacity expansion on GSL's agenda Vessel glut, poor demand sink crude tanker rates Vizag IMU urges Andhra for early land transfer Plethora of Port-related projects set to change face of Kochi Port of Antwerp ideally positioned as ex-im gateway to Europe VPT sowing a green future Apples still in CONCOR subsidiary's shopping list Govt may invest Rs 400-bn in airports upgrade plan DTC regime may cripple SEZ growth, fears EPCES Immense reserves of gas struck in Cambay basin Monsoon set to be normal this year Meet on supply chain management today Needed: Honest cogs to build our institutional infrastructure

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SEPTEMBER 6, 2010
Ustica Lines launches new ro-ro service The Italian shipping company Ustica Lines has announced the launch of a new ro-ro service linking the ports of Chioggia (Venice), Augusta (Sicily), and Valletta (Malta) as from 14 ... Valenciaport welcomes one of the world's largest LNG carrier Valenciaport (Spain) welcomed a LNG carrier Q-Max, one of the world's largest LNG vessels, on 6 September. The "Al Dafna" unloaded 260,000 cbm of LNG in Saggas, the ... "CMA CGM Amerigo Vespucci" in Le Havre Le Havre (Terminal de France TDF) recently welcomed the 13,830 teu newbuilding "CMA CGM Amerigo Vespucci", which made its maiden call at the French port. The ve... The Grimaldi Group mourns the loss of founder Guido Grimaldi, founder and chairman of the Grimaldi Group (Naples), has died at the age of 92. A spokesman for the Italian shipping group said Guido Grimaldi died peacefully yeste... UTi Worldwide reports higher Q2 revenue and profits The US forwarding and logistics company UTi Worldwide Inc has reported financial results for its fiscal Q2/2011 ended 31 July 2010. These show revenues of USD 1.151 billion, an inc... DHL teams up with Rugby World Cup 2011 The express and logistics service provider DHL has become the official logistics partner of the Rugby World Cup 2011 (RWC 2011). As official partner, DHL will be responsible for ti... TNT Express: new contract with RS Components in France and Italy RS Components, the world's largest distributor of electronics and maintenance products, has awarded TNT Express a contract to carry out all its domestic deliveries in France and It... Qatar Airways prepares for major Indian expansion Qatar Airways is to expand its Indian network by a 20% increase in services to Delhi, Cochin and Amritsar from this month (September). With a total of 14 extra flights being phased... Crew dies in UPS cargo plane crash in Dubai A UPS B747-44AF cargo plane was destroyed on 3 September shortly after takeoff from Dubai Airport (DXB), UAE. UPS confirmed the death of the two crew members. The cargo flight to C...

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SEPTEMBER 7, 2010
Management changes at Great Lakes Dredge and Dock Stone reports successes for NPT propellers Damen books order for first Twin Axe Catamaran Deepwater Horizon: Lessons learned

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SEPTEMBER 7, 2010
Port of Everett looking for Chief Administrative Officer candidates NOL celebrates opening of new Global Service Center Sea-Tac giving parking break to Seahawks football fans Georgia Tech logistics center opens doors in Panama City NOAA nets federal funds for Pacific Regional Center project

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SEPTEMBER 7, 2010
DryShips seeks $350m from follow-on offering Company's share price tumbles after it reveals it is returning to the capital markets DryShips upbeat on drillship future despite profits dip 'Bullish' DryShips returns to the black DryShips completes $240m bond issue Berlin defends state aid decision Government did right thing by not providing extensive state aid to shipping during... Germany agrees retrofit state aid Mumbai collision inquiry lays blame on bulker Khalijia 3 primarily at fault in accident with MSC Chitra, according Directorate... Lost documents unlikely to affect MSC Chitra... STX Pan Ocean plans four special purpose companies Vale's fleet ambitions loaded with...

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SEPTEMBER 7, 2010
DryShips flogs more equity DRYSHIPS revealed today that it plans to sell yet another 79.2M shares as it continues to aggressively tap capital markets Huge UK coke cache seized COCAINE with a street value of £8.25M ($12.7M) has been seized at Tilbury in Essex, the UK Border Agency told Fairplay today Strike shuts some French ports SOME PORT operations in France were closed today as dockers and other workers staged a one-day strike to oppose government plans to raise the retirement age Catalan copper caper: 4 held SPANISH police have arrested four men in connection with the theft of 500kg of copper at Barcelona's port Ukraine detentions criticised UKRAINE'S big freeze on two dozen grain ships stuck in port was attacked today by the Ukrainian Grain Association TransAtlantic deal approved SWEDEN'S offshore shipowner TransAtlantic today said the relevant competition authority has approved its acquisition of the remaining shares of Trans Viking Brazil extends its oil-rich shelf BRAZIL has extended sovereignty claims over its oil-rich continental shelf, IHS Global Insight reported today

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SEPTEMBER 7, 2010
Start-Up Container Line Loses $3 Million Imports Peaked in July, Port Tracker Says Diesel Inches Downward for Third Week Reed Smith Expands Maritime Practice Hong Kong Container Volume Grows 9.7 Percent Strike Disrupts Cargo Handling at Indian Ports Obama Outlines Transportation Strategy Transport Groups Seek Infrastructure Plan Details Nehru, Mumbai Ports Lift All Restrictions Airline Group Forecasts Slower Freight Growth Police Stop Truck, Seize $1 Million Panama Canal, Antwerp Sign Cooperation Pact Maersk Says Slow Steaming Here to Stay Hamburg Sud Christens Ship in Mexico Obama Offers $50 Billion Transport Building Plan

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SEPTEMBER 7, 2010
Transatlantic rates bull run nears its zenith Judge stops Paranagua surcharges Indonesian ports gripped by congestion Rates from Asia to Europe still up in July PortConnect and H&S branch inland

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SEPTEMBER 7, 2010
DryShips plots $350m offering George Economou-led owner may tap the capital markets for cash on the heels of freshly sealed loan waivers. Shipping in race against time Classification chief warns of tough greenhouse gas challenge facing shipowners as fleet grows. NCL 'orders at Meyer Werft' Meyer Werft said to have landed two-plus-one newbuilding deal from Norwegian Cruise Line. Petrobras ties up Tug Malta AHTS Brazilian energy behemoth grabs anchor-handler from Rimorchiatori arm for another two years, sources say. Shipping 'sincere' in green drive Shipowners' leader Spyros Polemis argues that shipping's contribution to saving the planet is not greenwash Clipper bulker in collision Strong current drags Danish bulker down Colombian river and into contact with cement carrier. Baltic supramax sidelined Baltic Trading bulker out of commission as hull damage from German grounding appears 'greater than expected'. Greek bulker foils pirates Meadway-chartered Matumba alerts Indian Navy to huge pirate group in IRTC with talk of mass arrests. Newlead seals tanker deals Nasdaq-listed owner fixes two products carriers for a year on profit-sharing deals. Dryships wins more waivers Greek owner rejigs loan conditions while signing new management deals with boss George Economou's Cardiff Marine. Greece reshuffles shipping ministry Prime minister Papandreou reinstates independent maritime department under Yiannis Diamantidis. Frontline fixes out VLCC pair John Fredriksen-led tanker giant confirms Golden Victory deal and nets five-year charter for Front Eminence. Latvian in $1.6m crew death case Allegations of death after working in 70 degree heat onboard tanker at US port levelled at Latvian Shipping. AI to keep Nasdaq listing Windstar cruise parent has boosted share price above $1 to meet exchange rules. Teekay sells to Greek US-listed owner offloads one of its oldest aframaxes for $17.2m. CSBC suffers in first half Taiwanese shipbuilder sees profit fall as it chases slice of Evergreen's newbuilding programme. Kenya jails seven pirates Ill-advised attack on German naval vessel last year ends in five-year terms for men now vowing to fight against piracy. STX Pan Ocean sets up SPCs Korean bulker player forms four special purpose companies to finance newbuildings. Hanjin Heavy eyes bond sale Korean shipbuilder has over $210m in its sights as it targets sale of three-year notes, report claims. SCI takes new tack on yards Indian state shipowner may build own shipyard or take stake in domestic player as it seeks to diversify. Green Reefers falls on low buyout offer Kristian Eidesvik makes minority shareholders in Oslo listed reefer operator an offer they will find easy to refuse. Marco seals coal deal Singapore tug and barge operator secures 12 month domestic Indonesian coal shipment deal. CalMac ferry rescues divers Scottish ro-pax comes to aid of men who got into difficulty in the Firth of Clyde.

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SEPTEMBER 7, 2010
China, Hong Kong shippers decry damage charges Top lines' first half earnings surge TCC loses $3 million in first half Judge blocks charges against Agility Schneider sells portion of logistics business Maersk to use Pipavav exclusively in Gujarat Port Manatee to begin dredging in January PO Shipping service makes 1st Long Beach call

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SEPTEMBER 7, 2010
Growth for Viking Line on Tallinn service Viking Line's ferries transported close to 2.1 million passengers during the three summer months of 2010. This was two per cent more than during the corresponding period from June Green Reefers in the hands of Eidesvik The investment conglomerate Caiano, controlled by the shipping entrepreneur Kristian Eidesvik, now controls 54.5 per cent of the shares in the Norwegian shipping company Green Reefers after a rights

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SEPTEMBER 7, 2010
Markets soften in north Europe NYMEX showing losses of more than $1 in early trading. Maersk Line in first voluntary fuel switch in Asia Move expected to cost an extra $1 million annually and reduce sulphur emissions by at least 80 percent. Bunker prices falling in key Middle Eastern ports Tight avails for prompt deliveries in Fujairah Aegean supplying 30,000 mt a month off Trinidad Volumes 'could double' if operations began inside Trinidad and Tobago waters. Indian refinery offers 380 cSt cargo Essar Oil has been running heavier crude grades, say traders. New warning on catalyst fines DNVPS says demand for low sulphur bunker product could trigger increase in catalyst fine content. IFO prices softening in Asian hubs Tokyo players say demand improved on Tuesday. Mumbai MGO prices hit 4-month high on thin supply Local suppliers offer domestic taxed prices due to lack of bonded MGO product. Box shipping recession 'over' Positive operating results signal end of recession in the box shipping industry. New sales head joins Naftal IBS turns physical supplier in Japan Able to supply bunkers at Tokyo Bay, central and western Japanese ports, says managing director of IBS. Typhoon halts Korean bunkering operations Main bunkering ports of Busan and Ulsan affected by suspension, traders say.