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Shipping News

Tanker rates 'may more than double' on floating storage
Supertanker shipping rates may more than double as futures premium encourages traders to use the tankers to store crude, Morgan Stanley said.
Baltic index falls on slow demand for larger vessels
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, softened on Monday with slower demand for the larger capesize vessels weighing on overall sentiment.
BP says more oil from well contained
Energy giant BP said yesterday that it was now able to siphon off about 40 per cent of the oil gushing from a ruptured well in the Gulf of Mexico but has not been able to stop the leak, as President Barack Obama is to create a commission to investigate the spill.

Strait Talk

Piracy and the ransom dilemma
PIRACY - and specifically that perpetrated by Somali gangs - is a big issue for the shipping industry that will not go away.

web site

Shipping News

Tanker rates 'may more than double' on floating storage
Supertanker shipping rates may more than double as futures premium encourages traders to use the tankers to store crude, Morgan Stanley said.
Baltic index falls on slow demand for larger vessels
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, softened on Monday with slower demand for the larger capesize vessels weighing on overall sentiment.
BP says more oil from well contained
Energy giant BP said yesterday that it was now able to siphon off about 40 per cent of the oil gushing from a ruptured well in the Gulf of Mexico but has not been able to stop the leak, as President Barack Obama is to create a commission to investigate the spill.

Strait Talk

Piracy and the ransom dilemma
PIRACY - and specifically that perpetrated by Somali gangs - is a big issue for the shipping industry that will not go away.

	web site

HK April up 11pc to 1.9 million TEU, Singapore rises 9.9pc MOL levies peak season surcharge from mid-June to Mid-March Cosco, MSC cut capacity 25pc on Far East-Mideast route APL revives peak season China-Korea to Oakland-LA loop Cosco Pacific April terminal volumes up 19.1pc worldwide South Africa's transport strike settles in for long pull India JN port train shortage causes boxes to stack up Virginia Port Authority to lease APM Terminals Virginia Australian regulator accuses Air NZ, JAL of price fixing China Eastern Airlines launches cross straits postal route Cargoitalia to add third MD11 freighter for China service

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CMA CGM adds two calls to PEX 3 service Safmarine announces new Horn of Africa service Dumping duty proposed on Chinese chemical Textile exports to US pick up China seeks access to telecom market Curbs on import of used IT items MPSEZL puts up stellar show in recession year! PSA Chennai swings GCR of 39 mph on m.v. MOL Admiration US box traffic poised to go up by 10 pc in May Acquisition spree proves costly affair for global transport & logistics companies Proposed GST regime prompting logistics companies to opt for larger warehouses Gold hits record high of Rs 18,255 per 10 gm Leading chambers against New Delhi's move to license lobbyists Rupee strengthens against euro too! People may decide Dedicated group to dress up GST regime for date with destiny GST may net in gas too Comprehensive reforms in global financial bodies sought CBDT suspends e-filing of I-T returns

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MAY 17, 2010
Port of Hamburg handling more freight Germany's port of Hamburg, which was hard hit by the global financial and economic crisis in 2009, handled 28.6 million t in the first quarter of 2010, a 4.6% improvement over... Gulftainer takes controlling interest in Avalon General Land Transport Gulftainer, a ports, transport and logistics company based in Sharjah (United Arab Emirates), has taken a controlling interest in Avalon General Land Transport L.L.C., also he... GAC opens Oslo airport office to expand services in Norway The GAC Group has opened its newest logistics office at Norway's Oslo international airport as part of organic growth to offer a wider range of integrated services to its clients. ... D.Logistics with sales slightly down but profit up The German logistics service provider D.Logistics, based in Hofheim, generated a turnover of EUR 70.8 million in Q1/2010. That was 0.6% less than in the same months last year, when... Icelandic ash still interfering with European air traffic A fresh cloud of volcanic ash from Iceland partially paralysed air traffic in parts of Europe over the weekend and into Monday. The airports in London (UK) and Amsterdam (Neth... JAL Group recognized as "Eco-First" company Japan's ministry of the environment awarded the government's "Eco-First" title to the JAL Group (JAL), at an awards ceremony in honour of the airline's various environmen... Finnair launches cargo flights to Seoul and Hong Kong The Finnish carrier Finnair has started its own cargo services on routes to Seoul and Hong Kong. The flights are operated with a Boeing MD-11 which was formerly used in Finnair's p...

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MAY 18, 2010
BAE Systems to buy Atlantic Marine Maersk Alabama pirate pleads guilty Titan Salvage removes fuel from submerged containership ACB wins $37.7 million USCG contract Yemen to shoot six convicted pirates Order placed for compact semisubmersible accommodation vessel Vietnam deploys advanced spill response vessel Senators seek Justice probe of BP statements

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MAY 18, 2010
Industry fury over planned SOx cuts European manufacturers, shippers and shipowners protest over 0.1% sulphur ruling German yards attack Asian rivals over price dumping Shipbuilders association slams cut-throat tactics by South Korea and China Yemen sentences six to death over tanker hijacking Six found guilty while another six are given 10-year jail terms Columbia link helps boost TEN profit Tanker owner says joint venture with Columbia Shipmanagement lifted first quarter profit to $19.5m Seafarers strike to protest Greek cruise liberalisation Seafarers call two 24-hour strikes to protest plans to lift longstanding cabotage restrictions

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MAY 18, 2010
Shipping stocks in Asia plunge SHIPPING stocks in Asia took a hit today as a drop in metals and oil drove down commodity-linked companies Ferry worker held in smuggling SPANISH police have arrested an employee of Spanish ferry company Acciona Trasmediterranea accused of smuggling migrants Two killed on Brazil rig A FALLING lifeboat has killed two workers on an oil rig off Brazil Renew it or lose it? SHIPPING companies doing business in Britain were warned today that that they need to review their UK tonnage tax election deadlines ' or else risk being forced to exit the regime Two birds, one green stone MOST CURRENT options for cutting carbon emissions from ships can also help shipowners save money, Jan Kopernicki, president of the British Chamber of Shipping, has told Fairplay Ro-ro operators see recovery FERRY and ro-ro operators told Fairplay today that northern Europe's ro-ro market is picking up, but it could take some time to restore pre-recession traffic volumes Ferrous seeks $400M in IPO BRAZILIAN iron ore miner Ferrous Resources has announced it plans to raise up to $400M in a London IPO

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MAY 18, 2010
P&G to Score Suppliers on Sustainability Ports Seek 25 Percent of TIGER II Grants Seattle Box Imports Soar 70 Percent Obama Says Stimulus Funds Wooed Shipper Dollars Rising Consumer Spending Faces Slowdown Euro Woes Called 'Minor Speed Bump' for U.S. Brokered Truck Rates Slip TNT Launches Moscow-Liege Service APL Logistics Moves to Expand Intermodal Kuehne + Nagel Handles European Manufacturer's Transport Airlines Blast Airspace Closure Aerologic Expands into Middle East Safmarine Plans Horn of Africa Service Charleston's April Container Volume Rose 28.5 Percent

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MAY 18, 2010
RCL cuts losses in half Safmarine to start HoA service Oil hits seven-month low Ireland's box ports dip again South Africa strike stalemate

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MAY 18, 2010
Oily offences induce detentions Four ships have been held in the US as authorities show no mercy for oceanic offenders that violate pollution laws. Heidmar snags Ridgebury tankers Bob Burke-led private offering adjusts quickly to rejection by Teekay-owned Gemini Tankers by offering units to its largest rival. TEN scraps offshore move Deepwater Horizon disaster prompts strategy shift at Greek tanker titan Tsakos Energy Navigation. Horizon Lines hit by Moody's Moody's Investors Service hammers debt ratings for US liner outfit as demand dips and antitrust issues blur the 'horizon'. Limarko master kidnapped Armed gunmen seize captain of reefer Argo minutes after grabbing two crew from Greek ship off Cameroon. Tsakos emerges on top Tsakos Energy Navigation posted a first-quarter profit but its latest figures fell a penny below Wall Street estimates. Arctic Sea link to abductions Plot thickens in abduction of Russian crewmen from Greek ship in Douala as one was chief engineer of hijacked Arctic Sea. Safety fears prompt loading rules IMO moves to halt increasing loading rates at terminals as Intercargo claims safety is at stake. ER Schiffahrt PSV finds work Hamburg-based owner fixes out ER Bergen following its return to the North Sea from West Africa. Svitzer orders eco-tug duo AP Moller-Maersk-owned company aims to reduce fuel consumption and emissions with two new vessels. Bulker bounce buoys MBC Robert Kuok's Malaysian Bulk Carriers sees first quarter profit race despite reduced offshore earnings. Billion dollar start for Glencore Ivan Glasenberg-led company sees first quarter bottom line double on back of global recovery. Another exec exits Torm Senior vice-president Torben Bager follows others out the door at Danish shipping giant. Mundra defies the gloom Indian port enjoys cargo volume and profit increase in year to 31 March. Bornholm business for Unity Line Polish owner charters Skania ferry to Danish operator as summer back-up. Cammell Laird workers strike More than 100 staff protest against UK ship repairer's redundancy plans. Hoaxer targets RCCL cruiseship Bomb scare prompts security sweep of Liberty of the Seas off Florida. Novoship falls into tanker trough Russian owner posts 96% drop in first quarter profit as revenues decline. Pirates get death penalty Six pirates sentenced to death and six others sent down for 10 years following fatal hijacking of a tanker last year. Subsea 7 hires Dof CSV Skandi Neptune picks up potential four-year charter with Kristian Siem-led company. Cargoship damaged in barge clash Collision with smaller vessel leaves German ship with five-metre gash in hull. Rio Tinto in VLOC splurge Australian mining giant emerges as company behind massive bulker order at Hanjin Heavy Industries. Tamai seals bulker finance Japanese handymax specialist ties up syndicated loan agreement with four domestic banks. Safmarine heads to Asia South African line launches first direct service to Malaysia via east Africa. Five in a row for Long Beach US west coast port reports fifth consecutive month of container volume increases. Dredger spills oil in Kiel Canal German police blame fuel leak from Van Oord ship on incorrectly fitted valve. Aegean founder selling stock Dimitris Melisanidis, founder of US-listed Greek bunker company, is offloading more shares. Price-fixing suit still hurts The cost of a now resolved legal matter kept Nasdaq-listed Trailer Bridge in the red during the first quarter. DHT and MMI end stand-off New York-listed shipowner and influential hedge fund resolve conflict as Robert Cowen finally gets a board seat. USC eyes Ukraine yards Russian state holding company interested in grabbing controlling stakes in up

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MAY 18, 2010
Ship owners hail EU Rotterdam Rules statement Hyundai announces return of PSW service Trailer Bridge loss narrows Aerologic adds Germany/Sharjah/Hong Kong freighter Obama picks FBI veteran Pistole to lead TSA Agility Q1 profits tumble 52% Chinese nationals guilty of illicit U.S. exports Bersin to expedite customs broker licenses Andersen to Vanguard's executive committee GPA box volume spikes for fifth month Charleston April box volume jumps 28.5% APM Terminals: Cranes 'R' Us

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MAY 18, 2010
Italian pool partner to leave Torm Dampskibsselskabet Torm A/S is going to lose another pool partner in the LR1-pool. The Italian partner LGR di Navigazione SpA, Napoli, has handed in their notice of resignation Liner operators lost USD 15 billion in 2009 The operating losses recorded by 18 of the top 23 liner operators reached USD 12.9 billion in 2009. Overall, container shipping lines are estimated to have made operating losses

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MAY 18, 2010
Bunker markets still weak as crude rebounds Sharp falls in key Mediterranean ports. Titan divers remove fuel from submerged vessel Removal operation mitigating the risk of an environmental incident in Saint Lucia. Prices firming in Middle East bunker hub Crude sees gains in early trading. WWL sees expensive future MARPOL Annex VI regulations 'will significantly increase the cost of operations and risk supply chain disruption'. Fuel surcharges boost revenue Marine freight carrier sees Q1 revenue up by almost 14%. Fuel oil leaked from 'incorrectly' fitted valve Traces of oil along 13 kilometre stretch of Kiel Canal. IFO prices continue to fall at key ports Distillates in Busan, the only products to buck the price trend. ExxonMobil sells 90,000 mt for end-May loading Low buying interest, particularly from Singapore-based traders, despite dip in arbitrage volumes. Bunker supplies 'unaffected' by higher domestic fuel demand Traders say there is minimal impact on bunker supplies in Tokyo Bay following closure of nuclear power plants. Aegean shareholder launches share offering Leveret International to sell over five million of Aegean's shares.