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Shipping News

One-year capesize rents double in 3 weeks
Costs to hire capesize ships for a year almost doubled in three weeks and rents for single voyages climbed on Monday as Brazil exported the most iron ore, one of the vessels' main cargoes, in three years.
Vale in talks to sell planned fleet of giant bulk carriers
Brazilian mining giant Vale is in talks with Chinese and other shipowners to sell or lease its planned fleet of giant bulk carriers, a Vale official told Reuters on Monday.
Older tankers worth more when scrapped
Prices of supertankers aged more than 15 years have dropped to levels that make scrapping the vessels more attractive than selling them to new owners, a unit of HSBC Holdings plc said.

Strait Talk

Is bigger always better?
IN shipping, history does seem to repeat itself. Of course, that is partly because it is, perhaps more than most, a highly cyclical industry. Also, it is striking that excessive capacity, due to over-ordering, is a persistent issue.

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Shipping News

One-year capesize rents double in 3 weeks
Costs to hire capesize ships for a year almost doubled in three weeks and rents for single voyages climbed on Monday as Brazil exported the most iron ore, one of the vessels' main cargoes, in three years.
Vale in talks to sell planned fleet of giant bulk carriers
Brazilian mining giant Vale is in talks with Chinese and other shipowners to sell or lease its planned fleet of giant bulk carriers, a Vale official told Reuters on Monday.
Older tankers worth more when scrapped
Prices of supertankers aged more than 15 years have dropped to levels that make scrapping the vessels more attractive than selling them to new owners, a unit of HSBC Holdings plc said.

Strait Talk

Is bigger always better?
IN shipping, history does seem to repeat itself. Of course, that is partly because it is, perhaps more than most, a highly cyclical industry. Also, it is striking that excessive capacity, due to over-ordering, is a persistent issue.

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Shanghai's first half throughput increases 10.5pc to 15.3 million TEU Idle ship numbers rise to more than 100 as peak season fails to take hold China first half port growth up 13.2pc, but off 15pc-11pc quarter to quarter Grand China Shipping drops second transpac loop as seasonal slack lingers Fujian sea ports monthly throughput increases 12pc to 860,000 TEU Hainan first half port volume increases 15pc to 56.3 million tonnes CSAV posts first half loss of US$525 million, looks to partnership India develops new vessel traffic management system, starting in Mumbai MSC to rely more on transshipments on Europe, Indian Ocean, Australia loop DHL vows shorter LCL transits from Bremen to east, south and west Africa Netherlands deny shipowners' right to private armed guards, re-flagging mooted Big freight forwarders taking market share from smaller firms Business pleads with Indonesian authorities to reform air cargo screening Romantically linked bush pilots' affair ends tragically in Alaskan crash Russian crew blinded by laser, plane lands safely, 50 incidents in a year

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'The rebranding will significantly add to the multi-location delivery strategy of Allcargo, making it more efficient and smoother' Baltic index touches 9-month high CAG reprimands govt for not supporting Indian shipping India, Bangladesh close to concluding talks on Chittagong, Mongala ports use JN Port enhances maximum permissible LOA Census 2011: Punjab urban population up to 37.5 pc CII feels time apt for sugar decontrol World economic climate worsens, ICC/Ifo survey shows

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SEPTEMBER 6, 2011
Works on Khasan-Rakin rail line progress A Russian railway infrastructure project is dedicated to the reconstruction of the 54 km Khasan-Rajin railway line, construction of a container terminal at Rajin port and the subse... US Airways commended for disaster relief effort The American Red Cross recently commended US Airways for its support of the Red Cross's disaster response work, by naming the airline a 2011 disaster responder. Red Cross disaster ... US investing in major rail upgrades The US government is investing nearly USD 745 million in construction along the Northeast Corridor (NEC), to upgrade some of the most heavily-used sections. The NEC will receive US... ABC carries Canadian pigs to Russia AirBridgeCargo Airlines (ABC), Russia's largest scheduled cargo airline, has successfully completed its latest shipment of live animals, with the transport of 1,150 pigs from Winni... Emirates SkyCargo takes delivery of third B777F Emirates SkyCargo, Emirates' freight division, has taken delivery of its third Boeing B777 freighter, which joins the airline's expanding fleet of B777s. It will be deployed to Bra... VTL's CO2 consignment tables ready for use The German general cargo network VTL Vernetzte-Transport-Logistik GmbH has completed its consignment table in two variants on the basis of the certified values of the VTL Network c... Star Alliance Services CEO nominated to head Austrian Airlines Jaan Albrecht, CEO of Star Alliance Services, has been put forward by the executive board of Deutsche Lufthansa to become chairman of the board and CEO of Austrian Airlines from 1 ... André Redl new car head at Schunk André Redl assumed the Germany-wide management of Oskar Schunk AG's car unit in Munich on 1 September. For many years, Redl was the head of the motor traffic division at Aon Jauch ... BBC Chartering welcomes first of 14 new vessels BBC Chartering recently took delivery of a new heavylift vessel, the "BBC Amber", built at the Jiangzhou shipyard (China). This 14,360 dwt heavylifter sits at the top of ... EBU welcomes EU Commission white paper Inland shipping plays an important role in European goods transport, as was recently emphasised by the European Barge Union (EBU), which said that "inland shipping offers huge... Metal One subsidiary Siecop finds home in the port of Duisburg Metal One, a global steel trader that is a subsidiary of the Mitsubishi Corporation and the Sojitz Corporation, is taking over a 22,000 sqm site at the foot of the Oberbürgermeiste... Porath establishes site in Poland Porath Customs Agents, the Hamburg-based customs agency, has been present in Poland with a new branch since the beginning of September. The company Porath Customs Agents, which is ... Raben Group: Wincanton deal gets green light As the Dutch transport and logistics company Raben Group recently announced, its takeover of the German road network and business activities of the British logistics company Wincan... Spedag East Africa und Interfreight merge in East Africa Spedag East Africa is joining forces with Interfreight East Africa and becoming one of the biggest logistics providers in the region, as part of the M+R Spedag Group, a global forw...

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SEPTEMBER 6, 2011
DOF Subsea takes delivery of DSV Skandi Singapore Corvus lithium battery meets Lloyd's Register certification Rolls-Royce to design and equip Simek PSV newbuild GL classified fleet now exceeds 100 million GT USCG takes delivery of third National Security Cutter

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SEPTEMBER 6, 2011
Port of Seattle marks 100 years of operations Asiana has begun all cargo service from Portland Jazz festival set for Bellwether on the Bay FMC wants TSA, WTSA to provide meeting transcripts Change of command for Everett-based Coast Guard cutter

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SEPTEMBER 6, 2011
Marco Polo eyes secondary listing in Taiwan Secondary listing in Taiwan is being sought as valuation drops below book value Singapore OSV yards miss out on exploration spending bonanza Persistence of offshore support vessel oversupply is holding back share prices despite apparent investor optimism over oil related sectors The charter climbdown and what it means Cosco quickly reversed its policy of not paying high-priced charters. Will the company change internally? Assessing damages for early redelivery English High Court in recent Wren case says actual losses suffered should be the guide Australia to privatise Port Botany Government tenders 99-year lease on facility DHT Holdings files $300m shelf registration Tanker operatator plans to add to funds raised through follow-on offer Shipping must take lead role over climate change Whether or not we believe in global warming, can we really take the risk of doing nothing? Chinese whispers: mammoth VLCC order rumour spooks tanker market Talk of up to 80 vessels to be ordered by national oil companies 'would kill' sector Aframax spot markets remain flat Brokers hopeful of boost to North Sea and Baltic Sea volumes over the coming weeks Coast Guard Foundation job led to Omega chairman's departure Senior shipbroker says move has nothing to do with situation at company Russian Register casts out Greek agent as 'fake' papers probe widens Greece hands RS one-month suspension and voices concern about total 43 vessels Skuld profits despite high claims Survives volatile financial markets to take underwriting surplus to $13m LNG rates supported by yards at full capacity Major Asian yards unable to take more LNG carrier orders until 2014 Overcapacity crisis to last 18 months, says Lunde China and South Korea set to continue putting ships into market leading to further price falls Weekly capesize FFA volumes reach 21-month high on August rates surge Doubling of physical charter rates last month boosts liquidity in paper market Odfjell takes stake in Antwerp terminal First asset deal since terminal plan announced Libyan oil exports will take more than a year to recover State-owned oil company says damaged infrastructure will take a long time to repair CMA CGM tops performance league French line posted the highest operating margin in first half of 2011 Dangerous temptation With poor earnings likely to continue for another year at least, liquidity problems can only get worse and ordering newbuilds must be resisted Greenland trade increases Royal Arctic Line says freight is up while Denmark looks to improve infrastructure HSH Nordbank launches fresh gambit to force Omega to sell off tankers Bank asks judge to lift the automatic stay against creditor actions that went into force when Chapter 11 filing was made Scrap steel price provider moves to daily service The Steel Index steps up publication of Turkish scrap prices as ship demolition grows Rejoice at your peril Excitement over the Baltic Dry Index's 2011 high this week may end in tears PIL launches direct China to Bangladesh service Service from Shanghai and Ningbo will cut transit time by six days Chevron hooks up to British LNG terminal Deal with Qatar Petroleum and ExxonMobil joint venture creates fresh opportunities to use South Hook Reefer Express cut short Extra loop withdrawn early after poor season for South Africa's fruit exporters Awilco LNG listed on Oslo Axess exchange Norwegian owner raises $50m from sale of stake in gasship division

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SEPTEMBER 6, 2011
BVI liquidator files for Chapter 15 THE BRITISH Virgin Islands liquidator of Farenco Shipping, an Asian charterer, has filed for Chapter 15 status in New York, as this year's surge in bankruptcy filings continues Libya oil hurdles warned CRUDE production in Libya - and thus tanker shipments - could take until the end of 2012 to reach pre-conflict levels, the new chairman of Libya's National Oil has warned, IHS World Markets Energy reported today CMA CGM rebuts default news prediction CMA CGM has issued an angry challenge to a report that the French box liner has a "9 in 10 chance" of defaulting on the terms of recently issued bonds UK overboard ferry passenger rescued A WOMAN was released from a UK hospital this morning after reportedly being rescued following a fall from a ferry Greece plans emergency inspections GREECE is to carry out emergency ship inspections following revelations that the Russian Maritime Register of Shipping (RS) issued false certificates to Greek passenger ships, according to Athens Yangzijiang buys stake in Chinese micro-lender SINGAPORE-listed Chinese shipbuilder Yangzijiang said it has acquired a 31.5% stake in Wuxi Runyuan Technology Microfinance Oz discipline drives down Capesize rates BROKERS told Fairplay today that Australian miners are staying away from Capesize chartering, in an attempt to bring rates down Baltic responds to EU's Syria oil ban AS EU sanctions are lifted on Libya, new ones have been imposed on Syria RSHI reveals H1 growth ONE OF China's largest shipbuilders, Hong Kong-listed China Rongsheng HI, has unveiled huge growth in profits over the first six months of this year Building sale seen helping RCL THAILAND'S intra-Asia box carrier RCL is expected to cut its full-year losses as a result of selling its Singapore building, a securities firm indicated today

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SEPTEMBER 6, 2011
Landstar Says Freight Demand Still Strong Weakening economic conditions haven't slowed trucking giant Landstar System, which says it gained truckload freight and raised rates in July... Boxer Files Highway Trust Fund Extension Sen. Barbara Boxer, D-Calif., filed legislation extending Highway Trust Fund programs until the end of the year, heeding President Obama's... Postmaster General Pleads to Senate for Relief U.S. Postmaster General Patrick Donahoe asked a Senate committee Tuesday for relief as the ailing agency faces a looming $5.5... Class 8 Truck Sales Jump in August Class 8 truck sales rebounded in August, despite dire predictions for the U.S. economy, according to preliminary figures from two... Saddle Creek Names DelBovo Transport President Saddle Creek promoted Mike DelBovo, a 14-year company veteran, to the new position of president of transportation at the... JOC Economist Cuts US Import Forecast Weakening economic conditions led Journal of Commerce Economist Mario O. Moreno to lower his forecast for U.S. import growth to... CMA CGM To Call on India's Port of Cochin CMA CGM added a direct call at the Vallarpadam International Container Transshipment Terminal, a DP World facility in India's Port... McDonalds to Add 700 Stores in China by 2013 McDonalds' plan to add more than 700 restaurants in China by 2013 signals the growing market for cold chain logistics... Consultant Forecasts Better 2012 for Ship Lines Container shipping will wrestle with excess capacity through 2011 but vessel supply and demand should come into better balance in... Chamber Offers Trade, Transport Jobs Plan The U.S. Chamber of Commerce sent President Obama and Congress a detailed list of job-creation measures it supports, with a... Japanese Prime Minister Vows Early TPP Decision New Japanese Prime Minister Yoshihiko Noda vowed to make a decision "as soon as possible" on whether to join the... Freight Index Inched Up in August The Cass Freight Index for U.S. shipments grew 4.4 percent in August over the same month a year ago, the... Air France-KLM Cuts Capacity Air France-KLM is launching a new round of cost cuts, including a hiring freeze and deeper capacity reductions, as the... FMCSA Approves NY-NJ Drayage Stickers The Federal Motor Carrier Safety Administration upheld the use of stickers to identify trucks complying with a drayage registry established... Teamsters Sue to Stop US-Mexico Truck Program The Teamsters union filed a lawsuit last week in an attempt to block the Obama administration's plans for a cross-border... Container Industry Pioneering Inventor Dies at 92 Keith W. Tantlinger, the innovative engineer whose inventions turned Malcom McLean's vision for container shipping into reality, died at his... Air Cargo Market Losing Share To Ocean Carriers Air cargo is losing market share to container shipping as high air rates and falling ocean freight rates widen the... Obama: Jobs Plan Will Include Road Projects President Obama said the jobs plan he unveils Thursday will include proposals to put unemployed construction workers busy with... CMA CGM Faces Falling Bond Prices Container ship operator CMA CGM, hit by sharply declining bond prices and falling freight rates, faces a 90 percent chance... CEVA Begins NY-Hamburg LCL Service CEVA Logistics said the expansion of its less-than-containerload offerings to include service from Hamburg to New York is the first... 10 Years Later Around 9 a.m. Eastern time on Sept. 11, 2001, U.S. Coast Guard Commandant Adm. James M. Loy was meeting with...

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SEPTEMBER 6, 2011
Vietnam vicissitudes 375 mariners still held by Somali pirates Transpac PSS value plummets as carriers 'undercut' each other IMF calls for ending of austerity measures China to loan TAZARA USD40 million

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SEPTEMBER 6, 2011
Owner faces cash crisis US shipowner says sale of vessels tied to United Offshore fleet may be on the horizon as it fights for fiscal health. Carlyle plots $100m IPO Private equity powerhouse fails to detail its appetite for shipping investments in filings tied to public fundraiser. DHT stacks the shelf New York-listed tanker owner sets the stage to raise up to $300m in pursuit of vessel acquisitions and strategic alliances. HSH ups ante on Omega New move by German ship financier against George Kassiotis-led tanker owner to relieve it of bankruptcy protecton. Slow start for Awilco LNG Anders Wilhelmsen-backed owner sees limited interest in shares on its first day following promotion to the Oslo Axess. Pipavav bags cash Indian shipbuilder says it has sold convertible warrants to new investors worth INR 819m. FBR plots NAT's next move FBR Capital Markets says more suezmax acquisitions will follow Herbjorn Hansson-led tanker owner's $24m S&P assault. UDSC misses loan State-owned Ukrainian tanker and cargoship player scraps refinancing tender after only two offers come in. Pirates free boxship Ultrapetrol-managed containership said to have been released following payment of $7m ransom. Maersk Oil taps Technip French subsea syndicate scores work for consecution-support vessels under $56m contract with Maersk Oil UK. Woman saved after fall Passenger rescued from North Sea after plunging from DFDS ro-pax off Newcastle. Greece impounds ships Shipping minister Michalis Chrysohoidis orders detention of vessels thought to have fake certificates from Russian Maritime Register. Boxship refloated New Samskip vessel freed by tug after grounding on Irish sandbank. Cosco dispute a turn-off Threat of ship arrests may be leading charterers to shy away from Chinese owner's vessels, Macquarie says. Ferry abandoned Korean passengers jump from blazing vessel off Yeosu, but no serious injuries. DVB lays downturn bare Recovery will not kick in before the end of 2012 with loan restructuring and fire-sales likely in the interim, says Dagfinn Lunde. Polar peril Norwegian research ship crew find polar bear sniffing around its waste containers off Spitsbergen.

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SEPTEMBER 6, 2011
10th-largest carrier SeaIntel questions new TSA Index Maritime consultant SeaIntel has questioned the validity of arate index published last weekfor the first time by the Transpacific Stabilization Agreement as the index doesn't include bunker surcharges. Excluding the bunker surcharge makes its virt... Lines struggle with overcapacity, liquidity A leading ship finance executive has claimed overcapacity will plague the container, dry bulk and tanker market through 2012. "The problem in most markets segments definitely is the significant oversupply of ships, which is basically due to the fac... CSAV seeks strategic partner amid cash injection Liner carrier CSAV said Friday its board of directors has agreed to inject $1.2 billion into the company amid plans to split CSAV's liner shipping business from a subsidiary unit that focuses on marine services and find a "strategic partner for th... CMA CGM presses for rate hikes again Liner carrier CMA CGM has released a new set of rate increases and peak season surcharges it intends to collect on a number of trades through September. The increases are: ' $150 per TEU from the Far East, India and the Middle East to West Africa,... CTSA sets new bunker fees Member lines of the Canada Transpacific Stabilization Agreement on Friday set new bunker surcharge levels for the start of October. For East Coast ports, the new bunker fee will be $847 per 20-foot container and $1,059 per 40-foot container. For We... PIL to add Bangladesh/China link PIL is to launch a service to directly connect Bangladesh with China, according to a news report from the South Asian nation over the weekend. American Shipper affiliate ComPair Data shows no current services linking the Bangladeshi ports of Chitta... Lacey Act ensnares Gibson Guitar Corp. Companies engaged in international trade often feel they are adhering to customs rules if their intentions are good, but a recent case involving Gibson Guitars underscores the importance of having strong internal controls over compliance activitie... BIS rules reflect country name changes The U.S. Commerce Department's Bureau of Industry and Security has revised the Export Administration Regulations to reflect recent country name changes. The Netherlands Antilles, for example, dissolved on Oct. 10, 2010. BIS has removed the Netherl... U.S. aid arrives in North Korea U.S. aid group Samaritan's Purse this weekend managed the airlift of much-needed goods to North Korea to help victims of catastrophic flooding. Damage reportedly has been extensive in farm regions, with 148,000 acres of land washed away or inundat...

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SEPTEMBER 6, 2011
Fujairah prices soften Earliest delivery in Fujairah from September 8. Industry sees need for review of flash point limit Off-specs seen increasing for low sulphur distillate fuels, but link with IMO conventions makes change politically difficult. Sulphur limits will drive up costs, says state-shipping company 'We will have to spend more than $217,000 per ship,' says SCI. Rotterdam and Hamburg prices fall Prices volatile in Piraeus. Fuel oil exports to 'return normal' Iran to give 'full allocations' to all its term buyers. First Suezmax completes Northern Sea Route transit Voyage marks new record sailing time and 'the first time ever a ship of this size' has transported a full consignment of cargo along the route. Bunker prices fail to dent profits Weakness of US dollar helps cushion impact of fuel costs. Tanker will be powered by LNG boil-off 'This makes not only ecological, but also economic sense,' says financial backer. New trader for Dan-Bunkering's Monaco office New recruit has experience as a bunker trader with Atlantic Energy in Paris. Asian bunker prices generally down Enquiries mixed at main Asian bunkering hubs on Tuesday, say traders. Limited IFO supplies at Far East Russian ports Remaining IFO volumes for term orders only, says local traders. WikiLeaks: Interruptions to Singapore bunker industry could impact global shipping Singapore and Malacca Straits 'vulnerable' to terrorist attacks, says leaked cable. South Korean bunker volumes slightly down Local traders expect supplies to be 'sufficient'. Minister urges bunker players to 'stay ahead' of competition Singapore water and environment minister says focus is on energy efficiency.