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Shipping News

Speeding ships to put brakes on rates rally
The biggest rebound in oil-tanker rates in almost two years is already being threatened by signs the surge may spur ships to speed up, increasing vessel supply and undermining the rally.
Seven missing after S Korean cargo ship sinks
Seven crewmen were missing and 14 others were rescued after a South Korean bulk carrier sank in the South China Sea, Seoul's foreign ministry said yesterday.
HNA unit seeks funds to pay 10 shipowners; pares fleet
Grand China Logistics Holding (Group) Co, part of state-controlled HNA Group, is seeking funds to cover late payments owed to about 10 shipowners and paring its fleet following sea-cargo losses.
Low water levels hit freight shipping on Rhine, Danube

Strait Talk

Box-ship players boxed-in
IT IS, apparently, cheaper to carry a container by ship from Asia to Hamburg than transport it by road from Hamburg to Leipzig. I know that interesting snippet of information because I was at a press dinner hosted by Hamburg-based classification society Germanischer Lloyd last week. It was held at the historic Watermen's Hall in London.

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Shipping News

Speeding ships to put brakes on rates rally
The biggest rebound in oil-tanker rates in almost two years is already being threatened by signs the surge may spur ships to speed up, increasing vessel supply and undermining the rally.
Seven missing after S Korean cargo ship sinks
Seven crewmen were missing and 14 others were rescued after a South Korean bulk carrier sank in the South China Sea, Seoul's foreign ministry said yesterday.
HNA unit seeks funds to pay 10 shipowners; pares fleet
Grand China Logistics Holding (Group) Co, part of state-controlled HNA Group, is seeking funds to cover late payments owed to about 10 shipowners and paring its fleet following sea-cargo losses.
Low water levels hit freight shipping on Rhine, Danube

Strait Talk

Box-ship players boxed-in
IT IS, apparently, cheaper to carry a container by ship from Asia to Hamburg than transport it by road from Hamburg to Leipzig. I know that interesting snippet of information because I was at a press dinner hosted by Hamburg-based classification society Germanischer Lloyd last week. It was held at the historic Watermen's Hall in London.

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Maersk CEO: 'We can outlast you' - some say 'war of attrition' declared APL meets Asia-Europe challenge with 10,000-TEUers on South China Express Korea's STX wins six 16,000-TEU ship order, reportedly for Zodiac Marine Port of Guigang's nine-month volume sets record at 34.48 million tonnes Shipbuilders facing slowdown, urged to check offshore energy work South Africa's Transnet posts 27pc pre-tax profit hike to US$1.1 billion India's Great Eastern to sell-off old ships to avoid maintenance costs Night flight ban puts Lufthansa Frankfurt air cargo hub project on hold Qantas gives up talks, consigns union disputes to federal arbitrators Gulf of Tonkin Beihai Airport enjoys mostly inbound cargo surge of 170pc Qatar Airways orders 777-200 Freighters, vows to be biggest cargo carrier FedEx Express offers one-business day transits from Asia Pacific to Italy Alaska Air Cargo touts a new track and trace text messaging service

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Bombay Chamber's Ports & Shipping Conference 2011 on December 6, 7 Embassy Freight Group focuses on consolidating in Asia at Kumarakom conference Shipping industry to feel the pinch as European banks curb lending Edible oil imports to rise again India should export more sugar to offset global deficit: ISO Overseas buyers pressing exporters to offer discounts Ras Al Khaimah ideal place for biz ventures Major Ports post 4 pc growth in box volumes Air cargo industry affected by weak dollar, rising oil prices Govt to usher in indirect tax reforms before GST launch

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NOVEMBER 22, 2011
India Railway revenues increase by 10% The total approximate earnings of Indian Railways on an originating basis between 1 April and 31 October increased by 10.13%. Total goods earnings have risen to about EUR 554 milli... Finavia to increase air traffic fees only slightly Finavia is adjusting its proposed changes to its air traffic fees in 2012. This means that the fees it collects from air traffic operators will only increase by 1.6%, instead of 6.... UPS enables digital customs handling for international airfreight Express services provider UPS recently announced that the option of digital customs handling for parcels, which exists in 90 countries, including Germany, Switzerland and Austria, ... LAM Mozambique cancels Lisbon route LAM Mozambique's last flight of its two weekly Maputo-Lisbon service, operated by leased Boeing 767-300ER aircraft, will take place today. The service to the Portuguese capital is ... Essers Group investing in electronic trailer management system The Belgian Essers Group, which is based in Genk, is fitting 2,000 trailers with Transics new TX Magellan Geo module. All Essers cooling vehicles were already fitted with TX Magell... DP World expands Pakistani terminal capacity The global marine terminal operator DP World has expanded its capacities at the Qasim international container terminal (QICT), one of Pakistan's gateways to the world. The move wil... Caytrans BBC serves US Gulf, Venezuela and Trinidad Caytrans BBC, managed by Dan-Gulf Shipping, will offer direct sailings between Houston Maracaibo and Trinidad. It will predominantly serve strong demand from oil and gas projects i... Frank Huster new Clecat treasurer The annual general meeting of Clecat, the Brussels-based European Association for Forwarding, Transport, Logistic and Customs Services, has appointed Frank Huster, of the Associati... US Railroad Administration draws up model state legislation The US Federal Railroad Administration (FRA) has collaborated with various government, labour and industry stakeholders and drawn up model state legislation intended to strengthen ... Globaltrans increases stake in BaltTransServis Globaltrans, Russia's leading private railfreight transport group, has acquired an additional 10% stake in BaltTransServis (BTS), increasing the group's effective controlling inter... DSV Road wins new Gurit contract DSV Road has been awarded a new two-year contract to provide road freight services for all export shipments for Gurit (UK) to customers throughout Europe. The agreement, an extensi... Svizzera Logistica, 23-25 November, Lugano, Switzerland (copy 3) Svizzera Logistica is an international logistics trade fair, where selected enterprises will present their products and services in a relaxed and comfortable atmosphere that only L... ALS Customs Services AEO certified in Switzerland Following a pilot phase in which three companies were earmarked and certified by Swiss customs, ALS Customs Services Schweiz was the first company to be granted a licence in accord... Logwin launches red carpet logistics for Asian fashion Logwin has launched a premium fashion logistics product, called red carpet logistics, in Kuala Lumpur, as the first step in an Asia-wide roll out. The service will combine the tran... Militzer & Münch taking over ATC in Turkey Militzer & Münch, an international transport logistics company, is taking over the activities of the ATC Group in Turkey on 1 January 2012. The Istanbul-based firm offers a com...

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NOVEMBER 22, 2011
B+H Ocean Carriers to delist and go dark SNAME honors Ingalls Shipbuilding's Dave Whiddon Signal International shipyard achieves OSHA milestone Frontline shares plummet as cash crisis looms Wärtsilä swoops on Hamworthy Alaska factory trawler to upgrade steam boiler plant

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NOVEMBER 22, 2011
Weather conditions force closure of Columbia River Bar entrance ATA truck tonnage index up during month of October Maritime Commerce Club shopping event set for Saturday, December 3 in Portland Port of Skagit continues string of clean state audit reports Hapag-Lloyd to begin Med to US West Coast calls

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NOVEMBER 22, 2011
Middle East to Asia VLCCs hit eight-month earnings high But average for year is still unimpressive BP books aframax from Libya as oil output rises Charter follows rival Shell's deal for 80,000-tonne cargo while brokers report rising inquiries Trafigura charters suezmax for six months Fixture of Almi Horizon comes as time charter rates continue the fall seen since start of year Are you on or off balance? Important changes are coming for leasing and revenue recognition. Companies interested in accessing the capital markets for funding will need to have accounts that comply No change in behaviour expected from equipment lessees GE Equipment Services survey finds pragmatic response to upcoming regulatory changes Decision time for asset-light companies New regulations could add more transparency and accuracy to assets being employed in logistics Dover consultation was transparent and economically sound Let's get beyond tabloid hysterics and look to the real business drivers of change at British trust port, says chief executive Bob Goldfield Eye-opening energy bills Energy bills are to provide a breakdown of costs, revealing more than companies expect Shipping can lead way for better conditions Doris Magsaysay Ho says governments and industry should draw on successful aspects of labour mobility in the shipping industry Period charters offer safe haven for dry bulk owners in weak third quarter Spot market exposure translates into poor performance for publicly-listed companies Cheniere signs second US LNG export deal in a month Company seals 20-year contract to sell 3.5m tonnes per year of liquefied natural gas to Spain's Gas Natural Fenosa Insurers must deal better with sovereign debt exposures European regulator speaks out after several insurance companies' ratings plummet Q&A: Brit's Simon Stonehouse Class underwriter explains what worries him about the market Supreme Court rules in Rainy Sky vs Kookmin Bank Case highlights the importance of clear and unambiguous drafting in refund guarantees Frontline woes demonstrate dire state of tanker sector Board examining restructuring options EXCLUSIVE: Greek government rules out tax on shipping after cabinet discussion But shipowners 'love Greece' and want to help in crisis, Georgiadis insists Torm's plight raises questions over business model Danish tanker owner fighting for its life and desperately seeking to raise cash EXCLUSIVE: Tramp owners face consolidation, warns HSH Nordbank chief Fragmented and often family-owned companies could be subject to foreclosures and forced ship sales Larger fleet propels Diana Containerships into profit Company eyes acquisition targets backed by remaining funds from June offering First interest shown in Syrian oil since EU embargo Shipping Corp of India inquires about an aframax shipment Baltic Exchange to develop potential US-Europe MR product tanker route Tanker derivatives market calls for Atlantic backhaul rate to settle trades against Torm cancels MR product tanker in bid to conserve cash Danish company revises full year forecast downward as it recognises cancellation fee in fourth quarter Mediator to negotiate SeaFrance deal Efforts underway to get ferries working again Read his lips Greek shipping minister Adonis Georgiadis today echoed categorically ruled out tax increases for the country's shipowners P&I premiums continue their rise for 2012 West of England is sixth club to push up premiums by 5% Frontline warns of restructuring John Fredriksen gives the nod that he could help rescue world's largest independent tanker company JES International defends its cash position to Singapore Stock Exchange Singapore-listed China shipyard responds to query over negative operating cash flow position MSC seals five-year deal with Australian box terminals stevedore Agreement with long-term customer will see Patrick handle 550,000 containers nationally for MSC in its first year Grand China promises to pay charter arrears Vessel sales, loans and bonds will raise cash

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NOVEMBER 22, 2011
Bleeding Frontline faces juggle FRONTLINE has reported deep losses for 3Q11 and warned that the continued weak market will probably forced the tanker giant to restructure Wärtsilä acquiring Hamworthy FINLAND'S Wärtsilä said today it had closed a deal to acquire Hamworthy, a UK-listed engineering company working in the oil and gas sectors SeaFrance mediator picked A FRENCH court has appointed a mediator who will try to resolve the deadlock between SeaFrance and ferry workers over resuming Calais/Dover services Chinese tipped to buy port in Western Australia JAPANESE and Chinese investors are likely to save a troubled Australian port development, analyst reports indicated today WTSA also seeks higher reefer rates BOX LINES in the US/Asia reefer trade followed their Asia/US counterparts today by seeking a rate increase for next year to cover rising costs Mariner's quick trial upheld PROSECUTORS are rushing today to prepare a US case against a Thai seafarer accused of violating MARPOL laws, after a federal judge ordered a quick prosecution LNG export milestone met CHENIERE Energy has sealed a major new supply contract with Spain's Gas Natural Fenosa, bolstering hopes for the market-changing Sabine Pass liquefaction project in Louisiana Russian Far East grain terminal planned RUSSIA'S shipping investment holding Magomedov is forming a JV with government-owned United Grain Co to build and operate a Far East grain export terminal AET to sell ULCC to Maersk? AET TANKERS today confirmed to Fairplay it is selling its 2005-built 306,999dwt ULCC Eagle Valencia HSH barred from 'threats' A US bankruptcy judge has issued a temporary restraining order after lender HSH advised independent directors of Omega Navigation Enterprises that they might face personal lawsuits 7 missing after bulker sinking HONG KONG rescue crews are searching for seven missing crew members today after the South Korean bulker Bright Ruby sank in the South China Sea Brazil plans fine for spill BRAZIL has reportedly pledged to fine Chevron $28M for causing an oil spill off Rio de Janeiro Pirates fail in two attempts NATO'S shipping centre has reported two failed pirate attacks near Somalia in the past 24 hours Phnom Penh's port traffic rises 30.5% PHNOM Penh Autonomous Port's freight traffic reportedly increased 30.5% year on year through October Yard shrugs off debt fears CHINESE shipyard JES has denied it cannot pay its debts but has reported poor cashflows last quarter

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NOVEMBER 22, 2011
LA-LB Clean Emission Program to Remove 280 Trucks Drayage companies in Southern California by the end of the year will remove from service the final 280 trucks that... Trucking Dashboard 3Q 2011 Click on an icon below to access information on LTL and truckload revenue growth, LTL shipment trends, truckload capacity tracker,... Port of LA Promotes Clean Vessel Incentive Program The Port of Los Angeles is promoting an international incentive program that encourages ship operators to reduce pollution through engine,... Occupy Protesters Call for West Coast Ports Shutdown The Occupy Movement is calling for a shutdown of all West Coast ports on Dec. 12, but they will have... ABF Eyes Growth, Possible Strategic Purchase ABF Freight System is looking at new growth areas, including potential acquisitions, as the freight carrier seeks to build its... Truck Tonnage Rose 5.7 Percent in October Trucks handled more freight in October, as rising manufacturing output helped increase for-hire truck tonnage 0.5 percent from the previous... Trailer Bridge Lost $1.9 Million in Third Quarter Trailer Bridge swung to a $1.9 million loss in the third quarter and the Jones Act carrier reiterated its confidence... Trans-Pacific Carriers to Hike Westbound Reefer Rates Shipping lines that carry U.S. exports to Asia intend to increase their refrigerated container rates effective Jan 1. to cover... Transport Providers Generally View TSA Favorably, Report Says Railroad, trucking and aviation executives generally have a positive view of the Transportation Security Administration's program for sharing threat information,... Royal Mail Triples First Half Profit to $105 Million The U.K.'s Royal Mail more than tripled first half earnings to $105 million, as increased profits from its European express... Diana Containerships Swings to Profit on Maersk Charters Diana Containerships swung to a $2.7 million profit in the third quarter from a $100,000 loss in the same period... Antwerp Builds Major Lock to Handle Larger Ships Antwerp has begun construction of a major lock that will allow the inland Belgian port to keep pace with the... Maersk Hikes Asia Rates to Mexico, Latin America Maersk Line is implementing a series of general rate increases and peak-season surcharges that will take effect on its Far... Alphaliner Says Asia-Europe Rate War Not Driving Out Carriers The rate war waged by leading ocean container carriers on the Far East Asia-North Europe trade has so far failed... Gap Stores Seek Faster Inventory Pipeline Executives at clothing retailer the Gap say they plan to keep inventories more lean in the coming year and use... LaHood Warns Super Committee Failure Will Hit Transport Programs Transportation Secretary Ray LaHood decried the failure of the congressional super committee to reach an agreement on budget reductions on...

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NOVEMBER 22, 2011
Is shipping defeating the piracy scourge? It is likely that as you read this article there will still be 10 ships and 243 seafarers held hostage by AK-47, rocket grenade-totting pirates off the coast line ... Rivalry between Singapore and PTP continues apace The world's second-largest boxport, Singapore, and nearby Malaysia's hub port Tanjung Pelepas, have continued to compete fiercely with each other over the first ... Zim/CSCL/Evergreen to merge Asia/N.Europe services Zim Line, CSCL and Evergreen expect to merge their jointly run AEX2/CES service between Asia and Northern Europe into CSCL's AEX1 service at the end of this month ... Egypt's Arab Spring turns sour Protests by Egyptian activists are continuing in Cairo's iconic Tahrir Square today, having already resulted in at least 26 people losing their lives in exchanges ... Bunker costs ease for liners Rotterdam-sourced IFO 380 fell by another USD4.50 per tonne today after plunging USD20 per tonne yesterday to sit at USD613, providing some welcome relief for loss-making ... Rupee hits all-time dollar low The Indian rupee plunged to a new low against the US dollar today to touch 52.50, and has now fallen by 14% this year against the greenback, to make the 1.2 billion ... European markets nervous After suffering further big falls yesterday - on more eurozone debt worries, and specifically that France could lose its coveted triple-A credit rating - European ... GPA boosts terminal intermodal facilities The US, Georgia Ports Authority (GPA) Board has boosted its intermodal offerings after approving a USD6.5 million, 6,000-foot extension of its Mason Intermodal ... 'Vital link' bridge between Hong Kong/Pearl River gets go ahead The planned Hong Kong-Zhuhai-Macau Bridge (HZMB) has been given the green light after legislators endorsed the approval of its HKD48.5 (USD6.2) billion funding ... Santos hit by 24-hour strike Brazil's busiest port of Santos was shuttered on Monday by a 'surprise' one-day strike that could be the start of industrial unrest and disruption for the booming ...

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NOVEMBER 22, 2011
Crude carnage Frontline tops 'worst performer' list as shares plunge 41% while fallout forces tanker stocks to fight double-digit dip. Excel's 'advantage' CFO says Gabriel Panayotides-led owner will be ready to tap the public markets when bulker rates recover in late 2012. S&P drops Excel Ratings giant trims and drops NYSE-listed bulker owner's credit rating amid grim market forecast. Hong Kong holds three Port state checks end in detention for two faulty general cargo vessels and a German boxship. Banks could crush themselves Lazard Capital Markets lays out the folly for any bank which does not play ball with Frontline. Solvang stuck in the red Oslo-listed LPG and ethylene specialist fails to shed the red despite market uptick. Mozambique eyes port plan Rocketing coal demand spurs government to look at building up port capacity. Cafer Dede gets lighter Crane begins taking containers from Turkish boxship aground on Greek island. UK port spat halts upgrade UK port's rival forces reassessment of vital development plans. Diana moves into black Simeon Palios-led liner operator eradicates losses as new ships make presence felt. Uranium ship leaves Former Hartmann vessel that suffered radioactive leak departs from Vancouver after nearly a year. Frontline may be cut in two Newbuildings could be placed into a separate company as industry leader battles poor market, Troim says.

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NOVEMBER 22, 2011
AS poll: One-third shippers with cargo rolled CaytransBBC expands Houston sailings Breakbulk vessel operator CaytransBBC has introduced regular twice-monthly sailings from the Port of Houston Authority's Care Terminal to Venezuela and Trinidad and Tobago. Sea Star agrees to pay $14 million fine for price fixing MSC raises Asia-WCSA rates Trailer Bridge reports 3Q loss of $1.9 m

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NOVEMBER 22, 2011
Neste Oil builds emission recovery system New facility will reduce the refinery's overall hydrocarbon emissions significantly. Rewarding operators for clean ships Port of LA develops incentive programme strategies for 2012. Prices in North European ports show little movement Mediterranean markets softening. Prices steady after days of falls Fujairah IFO prices barely change. Bunker barge launched by Turkish yard Vessel has been ordered by UAE-based player. One clause in a charter contract 'can cut bunker costs' Ship operator says 'virtual arrival' has a 'huge' impact on emissions and fuel consumption. Low-density, low-water fuel oil cargo expected in Singapore Parcel 'will address some of the quality issues that have been fundamental to the market's meteoric rise.' Opportunities for LNG bunkering in China Study says China likely 'to draw on wide support from foreign companies'. IFO prices generally softening in Asia Demand mixed at key Asian bunker ports on Tuesday. Finnish firm among Europe's fastest growing cleantech firms Eniram's annual revenues have grown by 6,209% over the last five years, the company says. Trinidad and Tobago state-owned firm to explore bunkering in Panama As part of discussions to meet Panama's growing demand for energy. Japanese bunker players offer 3.50% sulphur fuel oils All local refiners 'guaranteed' offer of 3.50% sulphur fuel oil in Japan. Lanka IOC posts lower quarterly profits Sales of bunker fuels, lubricants, bitumen and petrol have delivered 'positive margins.' Delays to 0.10% sulphur limit 'reduce incentives' for research Key now is to develop 'tool box' of measures to help the shipping industry meet the sulphur limit, says a Member of the European Parliament. Shipbuilder signs agreement to install Wartsila scrubbers Scrubber market capacity may grow to $70 billion by 2025, analysts say. Cold ironing faces limitations in Hong Kong Relatively few ships ready to plug in to shore-side power, says Hong Kong-based scholar.