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Shipping News

Idle tankers seen hitting 2-decade high
Owners of supertankers, losing money for a sixth consecutive quarter, will probably idle the most ships in more than two decades as they contend with a glut that has driven charter rates to the lowest in at least 14 years.
Baltic dry index rises for 4th session
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose for a fourth session on Monday helped by expectation of firmer Chinese iron ore demand and buoyant grains exports from the US.

Strait Talk

Owners under pressure
CURRENT tanker market rates are consistently below shipowners' operating costs. That, at least, is the view of tanker owners' group Intertanko.

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Shipping News

Idle tankers seen hitting 2-decade high
Owners of supertankers, losing money for a sixth consecutive quarter, will probably idle the most ships in more than two decades as they contend with a glut that has driven charter rates to the lowest in at least 14 years.
Baltic dry index rises for 4th session
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, rose for a fourth session on Monday helped by expectation of firmer Chinese iron ore demand and buoyant grains exports from the US.

Strait Talk

Owners under pressure
CURRENT tanker market rates are consistently below shipowners' operating costs. That, at least, is the view of tanker owners' group Intertanko.

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Grand Alliance to end JCX transpacific service from late October Fuel oil from grounded Rena washes ashore, sparking high-level eco-anger Short-lived Far East-Australia peak season loop comes to an end Kanway Line launches Hong Kong-Vietnam service from mid-October CSAV shareholders invest US$1.2 billion - mostly to buy 9 new ships Belgium's bpost purchases Hong Kong's Citipost Asia Costamare pays US$90 million on 2 ships chartered long term to MSC Felixstowe adds services to Manchester through GB Railfreight link Port Klang to build third box terminal to meet 9.6 million TEU demand Westbound transpacific rate to rise in $200/TEU range from November Cadiz box shop to build with European Investment Bank US$80.2 million loan Shipping Corporation of India pulls back, says no to 'pricey' Cochin yard Malcolm Rail sets up Teesport-Scotch express intermodal service Dachser opens third Eurohub in central France costing US$13.6 million Emirates SkyCargo starts B777F service to Hong Kong, Australasia TIACA calls for industry-wide, multi-state fight against EU carbon credits Oak Hill invests US$55 million in Southern Air cargo unit to upgrade fleet

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MSC a double winner at MALA 2011 SCI's fundamentals, including financials,remain strong, stress Mohandas, Hajara US dredging firm sets foot in India AMCT handles maiden vessel call of TS Lines' IMX service Govt to award road contracts for 7,300 km in 2011: PM IATA upgrades industry's profit forecast to $ 6.9 bn Infra funding may fall 12 pc short of 11th Plan target: Montek WTO advises India to simplify import permit, tariff regime

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OCTOBER 11, 2011
Adidas lays foundation for world's biggest distribution centre Adidas recently laid the foundations for the group's biggest distribution centre in the presence of invited guests in the Niedersachsenpark. It is to be opened in the first half of... Sieber Group integrates subsidiaries fully The two subsidiaries of the Swiss transport and logistics group, Sieber Transport - Haldemann & Co and Francey Transports - were given new company names and a fresh image in Oc... Trenitalia back to profit The Italian national rail operator FS managed to grow its profits by 165% in the first six months of 2011. The company says that with a net profit of EUR 90 million, the company is... B-triple truck to be allowed on South Australia's major highways? Giant triple-trailer trucks will soon be allowed on South Australia's major highways in a plan that is being championed by the National Transport Commission. The commission will th... Johan Wall resigns as CEO of Bisnode Johan Wall leaves his position as CEO of Bisnode. Fredrik 'kerman, business area director and CFO of Bisnode, has been appointed to serve as acting CEO until a replacement has been... UK freight forwarders urged to support Fairfuel UK campaign petition The British International Freight Association (BIFA) has called on its members to support the FairFuelUK campaign. According to calculations by the Road Haulage Association (RHA), ... Russian Railways to develop container shipping on international routes Russian Railways' board has approved an integrated development concept for the container business of its holding company. The impetus to develop this concept stems from the fact th... DHL shortens transit times for LCL shipments DHL Global Forwarding, the Deutsche Post DHL Group's specialist for air and seafreight, has established three new direct connections between Germany and the African continent. Tran... Imports and exports fall in Q2 at port of Turku Cargo transports through the port of Turku totalled 1.9 million t at the end of August, down 3.7% on the same period in 2010. International cargo transports accounted for 1.7 milli... Horizon Lines saved from bankruptcy Horizon Lines has conclude a complex financial restructuring programme worth USD 650 million, which has protected the company from going bankrupt. Stephen Fraser, Horizon CEO, said... Avient and Liege airport strengthen their commitment In a highly visible display of the continuing relationship between all cargo carriers, Avient and Liege airport, Belgium, from where the African cargo specialist operates its Europ... Ethiopian Airlines temporarily adjusts Far East service From today until 27 November, Ethiopian Airlines is adjusting its service to China and Thailand. The airline during this period will be servicing Addis Ababa - Guangzhou non-stop s... Arik Air orders two Boeing 747-8 Intercontinentals Boeing and Nigeria's Arik Air last Friday announced a deal for two 747-8 Intercontinental airplanes. The order is valued at USD 635 million at list prices and was previously attrib...

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OCTOBER 11, 2011
Explosives-laden barge refloated after grounding in Rosario Strait Massport takes delivery of new fireboat ASL Shipyard books orders for five vessels Inland Salvage completes lightering and salvage of sunken hopper barge

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OCTOBER 11, 2011
Grounded dry-cargo barge refloated in Rosario Strait 2011 Connie Award going to past Sea-Land Services president Crowley Maritime executive joins Puerto Rican Sports Hall of Fame Hamburg Sud christens new 7,100 TEU container ship Boeing opens Beijing office to serve China's aviation industry

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OCTOBER 11, 2011
Optimistic forecasts ring true DVB's spring projections of a healthier VLGC shipping market were on the mark Maersk Tankers spreads LPG fleet risk Handysizes add flexibility amid long-term uncertainty in VLGC market LPG trade patterns undergo changes New liquefied petroleum gas supply and demand picture alters carrier trades Maersk Tankers warns of oversupply dampening VLGC rate rises Very large gas carriers need to earn today's high rate for 25 years to see long-term benefits Q&A: Richard Turner, RSA RSA's global head of marine discusses its global restructure, his new role at IUMI and the issue of piracy Mandatory measures to weigh cargo by 2013 But questions remain over implementation Not if, but when Industry divided over the best point at which to weigh containers Opinion: weighing up the impact In the worst case, overweight containers could cause extreme rolling, resulting in damage to other cargo, structural damage to the ship, injury to crew and even capsize and loss of the vessel Cruise industry leads search for sulphur loophole Different definitions of IMO equivalence could lead to patchwork of rules Seaboard Marine to close Bahamas subsidiary US liner firm will quit Nassau with loss of 29 jobs Scientists have a duty to guard against bias As R&D budgets are cut, objective studies are vital if we are to deal with causes of pollution Buying into contrarian investing is for the brave Stake my retirement prosperity on the vacillations of the Baltic Dry Index? Not blooming likely Piracy threat eats away at tanker daily earnings Owners divert vessels to longer, more expensive route Suezmax rates soar in Mediterranean Delays in Turkish Straits reduce availability, sending earnings up $20,000 in a day Greek owner wins asset injunction against Grand China Logistics Court order follows three missed hire instalments on capesize bulker charter Where will pirates go next? This resilient business model has led to avenues of expansion before, and is poised to do so again Calls for UN naval task force to combat piracy Lack of co-ordination from individual states makes Indian Ocean soft target for pirates UK and US forces free Montecristo Italian bulker released and crew secured Far East refineries boost volume of oil shipped from Opec members Western refineries take less from Opec Taking responsibility What is missing from the struggle against piracy is political commitment from governments Sovcomflot chairman steps down Chief of staff Sergei Naryshkin replaced in line with new government bar on senior ministers BW Group refinancing would strengthen funding options Singapore-based tanker and offshore owner builds resilience amid grim earnings outlook APM Terminals wins Port of Gothenburg concession Contract to operate box terminal will bring investment in three super post-panamax cranes Historical perspective The Rena grounding threatens to be a major incident in New Zealand's maritime history, but is a long way from being the worst Container sector will need $57bn to pay for ordered ships Alphaliner warns that capital commitments will place an extra strain on balance sheets already beset by losses Opec cuts world oil demand growth forecast Global economic uncertainty and drop in China and India consumption are factors New Zealand dubs Rena spill 'worst maritime disaster' Amount of leaked oil is higher than original estimates as weather worsens and crew evacuated ICS chairman says industry 'at end of our tether' on piracy Spyros Polemis calls on Indian Navy to focus its efforts on inhibiting mothership activities Legal experts urge Brussels to redraft Rotterdam Rules Bid to bring uniformity to sea carriage law has fallen flat

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OCTOBER 11, 2011
Now Rena's fuel oil is spilling AS RENA, the grounded box ship, gushed oil into the pristine Bay of Plenty today, environment minister Nick Smith called the casualty "the most significant maritime environmental disaster in New Zealand's history" Slack owners who abet pirates targeted LANGUAGE has been added to a bill that would require the White House to publicise the names of shipowners who ignore best practices against piracy Blast forces new Nigerian force majeure ANOTHER pipeline explosion has forced Shell's Nigerian subsidiary to invoke a new force majeure on oil tanker cargoes, IHS World Markets Energy reported today Voyage tests Kazakhstan-Iran crude swaps CRUDE is being transported today from Kazakhstan's port of Aqtau to Iran's Caspian port of Nekah, to test resumption of oil swaps, IHS World Markets Energy reported today APM wins terminal concession in Gothenberg APM TERMINALS said today it has signed a concession to manage Gothenberg's Skandia Container Terminal for 25 years Strikers disrupt Kuwait tanker traffic CUSTOMS workers striking over pay in Kuwait are reportedly blocking tanker exports $246M Korea-Brazil pulp deal agreed SOUTH Korea's STX Pan Ocean said today it has entered the wood pulp sector with a $246M charter with Brazil's Fibria Celulose Jamaica reveals expansion cost for port KINGSTON Container Terminal is planning $780M in private and public investments, according to Port Authority of Jamaica chairman Noel Hylton Cocaine sniffed in Suape POLICE have reportedly seized more than half a tonne of cocaine in containers at the Brazilian port of Suape Italy said to pledge military ship guards ITALY has reportedly pledged to post military forces on its merchant vessels to oppose pirates Polemis highlights India piracy toll INDIA'S seafarers are paying a high price for the failure to curb piracy, ICS chairman Spyros Polemis has warned Malaysia seeks to tighten tax loophole MALAYSIA'S 2012 budget has proposed cutting income tax exemptions for domestic-flagged ships from 100% to 70% of statutory income Oz approval could lead to port expansions AUSTRALIA'S $30Bn Olympic Dam mine project has received environmental approval, increasing prospects for two port expansions Taiwan to bar single-hull tankers TAIWAN has warned that foreign-flag, single-hulled tankers would be barred from its ports within a year China yard blowback warned on VLCCs CHINA'S efforts to encourage its owners to build ships at domestic yards could hurt VLCC market prospects, a London broker has warned

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OCTOBER 11, 2011
Diesel Falls to Under $4 a Gallon Nationwide Diesel prices across the United States fell 2.8 cents in the ending Oct. 10, dropping down to under $4 per... Southern Air Gets $55 Million to Expand Fleet Oak Hill Capital Partners injected $55 million into Southern Air Holdings so the air cargo carrier can expand its fleet... Containerized Exports Rose 5.4 Percent in August U.S. containerized exports rose 5.4 percent in August, aided by a weak dollar and rising demand in key markets, and... Kuehne + Nagel Opens Colombian Facility Kuehne + Nagel's new 32,808-square-foot logistics and distribution center at Colombia's Port of Cartagena positions the Swiss forwarder for growing... Rising Driver Turnover Rate Threatens Shippers Shippers need to do more to help trucking companies reduce rising driver turnover rates and help keep transportation costs in... Merchant Marine Academy Superintendent Leaves Rear Adm. Philip H. Greene Jr., superintendent of the U.S. Merchant Marine Academy at Kings Point, N.Y., has stepped down... Schneider Speeds Intermodal Trade with Canada Truckload giant Schneider National is leveraging its intermodal capabilities and relationship with Canadian National to speed freight between the U.S.... Obama Infrastructure, Jobs Plan Heads to Senate The Senate is expected on Tuesday evening to reject President Obama's $447 billion jobs plan, with $50 billion in transportation... Horowitz Gives Closing Remarks on Canada Maritime Conference (Video) Barry Horowitz, principal of CMS Consulting Services and a member of the planning committe for the Canana Maritime Conference, wraps... Obama Fast-Tracks Six Major DOT Projects President Obama designated six large transportation construction projects for fast-track permitting and environmental reviews to get them into their building... Japan Airlines Cargo Traffic Drops 54 Percent Struggling Japan Airlines said that its international cargo volume dropped for the 15th successive month in August on a year-over-year... Study Says US Trade to Grow 62.3 Percent by 2025 U.S. trade volume is expected to rise 62.3 percent in the next 15 years but the U.S. share of global... Kuehne + Nagel Acquires German Logistics Firm Kuehne + Nagel entered into an agreement to acquire Carl Drude, a logistics provider in the center of Germany, for... APM Wins Swedish Terminal Concession APM Terminals won a 25-year concession to operate the container terminal at the port of Gothenburg, Sweden's biggest container gateway.... CSAV Restructures India-Europe Service Chilean container carrier CSAV is reorganizing its IMEX 1 Service connecting India, the Middle East and Europe, starting this month.... Grand Alliance to Suspend Trans-Pacific String The Grand Alliance will suspend its Japan-China Express service to the U.S. West Coast for the slack winter season beginning... Alphaliner Says $57 Billion of Container Ships Booked to 2015 Ocean carriers and charter shipowners have placed orders worth $57 billion for new container vessels over the next four years,...

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OCTOBER 11, 2011
'Boring shipping': does it pose a clear and present danger? The PR machines were cranked-up to maximum when the Daily Maersk was launched recently. 'We just made shipping boring,' enthused the senior executives of the Copenhagen-headquartered liner Gothenburg goes to APM T Stricken boxship: New Zealand's 'worst maritime disaster' Schedule reliability improved in September New Doha port construction starts

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OCTOBER 11, 2011
Fitch endorses SCF IPO Ratings agents say public fundraiser is key to success as they unshackle Russian tanker giant from 'negative' watch list. Seaboard plots Bahamas exit Lights out for US operator's Nassau office as declining volumes and heavy competition stifle success of sailings. Aker seeks solution Delays tied to Petrobras construction project may cost Oslo-listed offshore contractor as much as $88m. Turkish traffic Analysts examine impact of Turkish Strait delays on tankers as suezmax and aframax spot rates soar. ASL rakes in orders Singapore-listed offshore owner's Lion City shipyard reels in $208m worth of new contracts. Italy turns to guards Defence ministry strikes deal with owners to put security personnel on Indian Ocean vessels, following Montecristo attack. Lay-up bets placed Over 30 VLCCs will be tied up due to rubbish rates, survey of brokers and analysts says. Cape bull run 'temporary' Capesize rates likely to head south despite fourth quarter demand, says analyst. Costamare lifts payout Constantinos Constantakopoulos-led containership owner beefs up dividend as investors prepare to cash in on expansion. Close, but no cigar for pirates British and US forces smoke out pirates who boarded bulker Montecristo off the coast of Somalia. Klebanov chairs SCF Northern Russian envoy brought in to replace Dmitry Medvedev's chief of staff Sergey Naryshkin on tanker owner's board. Rena list increases New Zealand authorities say Costamare boxship now tilted at 15 degrees on Astrolabe reef. Rena "haemorrhaging oil" New Zealand's environment minister says grounded Costamare vessel now leaking at five times the rate of previous oil losses.

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OCTOBER 11, 2011
Low price strategy Grand Alliance to drop two TP loops for winter The Grand Alliance carriers are set to drop two transpacific services at the end of October, according to a note from liner member Hapag-Lloyd last week. The alliance is the last to shave away capacity on the transpacific, with a number of carriers... ICS: seafarers on piracy 'firing line' The chairman of the International Chamber of Shipping has made another call for stronger action against pirates. "The world community cannot tolerate the abuse and the killing of seafarers," ICS Chairman Spyros M. Polemis told seafarers and mariti... UPS offers paperless customs for air cargo UPS said Monday it will offer its air freight customers the same capability now enjoyed by small package shippers to electronically clear customs in more than 90 countries. The UPS Paperless Invoice product is free of charge and integrates order p... Barge removed near LaPlace, LA Inland Salvage said it recently completed the removal of about 1,000 tons of structural scrap steel from a sunken hopper barge. The 195-foot barge, which was also removed by Inland Salvage, had been obstructing a loading dock on the Mississippi Riv... OECD: Indicators point to economic slowdown The Organization for Economic Cooperation and Development (OECD) said Monday that composite leading indicators (CLIs) for August, designed to anticipate turning points in economic activity relative to trends, continue to point to a slowdown in econ... Wal-Mart: Shipping industry should price like us The vice president of inbound transportation for Wal-Mart said the container shipping industry should adopt his company's consistent low-price concept in order to reduce price and demand volatility. Speaking Tuesday in Shenzhen at the TPM Asia co... Kuehne + Nagel to acquire Drude Logistik Kuehne + Nagel has entered an agreement to acquire Carl Drude, located in Hauneck/Bad Hersfeld, Germany. The Swiss logistics company noted the firm is located is in central Germany and said the purchase is in line with its strategy to further expa... APM manages Gothenburg terminal APM Terminals has been awarded a concession to manage the Skandia Container Terminal in Gothenburg, Sweden for the next 25 years. APM will invest more than $115 million in the first five years of operation to make the port more competitive as a fre...

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OCTOBER 11, 2011
Andatee share price surges Bunker company's share price rises 37% in single day. Fujairah bunker market firms Price movements mixed in Suez. Taiwan to forbid entry of single-hull oil tankers Ban on foreign vessels to be enforced from the start of 2013, not applied to domestic single-hull vessels. Rotterdam and Hamburg prices rise In Piraeus, workers at the Hellenic Refinery begins indefinite strike. Durban market set to remain tight Fire at Engen refinery and shutdown scheduled just as SAPREF plant is due to reopen. NZ bunker tanker diverted from refuelling cruise ships Ports of Auckland 'working closely with its customers' too provide alternative bunker arrangements. US Navy helping biofuel companies through 'valley of death' Navy officials say they are backing transition from research and development to product deployment. Tough new laws on bunker spills Charterers will become liable and corporations could face fines of up to $3.3 million. Bunker prices firming at key ports Supplies of bunker material tight in Singapore and Hong Kong on Tuesday. African Shippers reject bunker levy Union of African Shippers Council believes bunker levy conceived by ship owners 'to pass the buck' to shippers. Lower bunker costs fail to lift mood in VLCC market Tonnage oversupply 'remains a burden' to VLCC market, says BRS. Fuel-saving technology company eyes marine market CEO of tech firm says it is optimising and refining its technology for use on bunkers. Container liners to lose 'significant money' in 2012 Leading carriers' intent on protecting their market share hurting the industry, says Drewry. VTTI constructing storage facility in Algeciras Signs agreement to build bunker storage facility at municipality of Los Barrios. Cargo delays tighten IFO avails in Hong Kong Replenishment cargoes from ExxonMobil, Sinopec and Chevron delayed to mid-month. Grounded vessel leaking 'significant' amount of fresh oil Oil transfer to the bunker barge Awanuia suspended due to poor weather conditions.