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Shipping News

Baltic sea index rises on higher panamax rates
The Baltic Exchange's main sea-freight index, which tracks rates for ships carrying dry commodities, rose on Monday for an eighth straight day as an increase in grain shipments pushed up rates for panamax vessels.
Maersk can double Asia-EU capacity cuts
Maersk Line, the world's biggest owner of container ships, can double capacity cuts on its largest trade route connecting Europe and Asia if demand is weaker than it expects.
Somalia threats and famine vex the UN
The UN Security Council has expressed grave concern at the threat posed by Somali pirates and extremist groups as UN chief Ban Ki-moon warned the African state's humanitarian situation would likely deteriorate again in the coming months.
Seychelles seeks help over jailed pirates

Strait Talk

Turbulent times ahead for shipping
IT EMERGED last week that some shipping companies now have debt-to-equity ratios as high as 1,000 per cent. The reason for this is, of course, a massive decline in ship values, which is one of the clearest indicators of the deep trouble much of shipping is now in.

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Shipping News

Baltic sea index rises on higher panamax rates
The Baltic Exchange's main sea-freight index, which tracks rates for ships carrying dry commodities, rose on Monday for an eighth straight day as an increase in grain shipments pushed up rates for panamax vessels.
Maersk can double Asia-EU capacity cuts
Maersk Line, the world's biggest owner of container ships, can double capacity cuts on its largest trade route connecting Europe and Asia if demand is weaker than it expects.
Somalia threats and famine vex the UN
The UN Security Council has expressed grave concern at the threat posed by Somali pirates and extremist groups as UN chief Ban Ki-moon warned the African state's humanitarian situation would likely deteriorate again in the coming months.
Seychelles seeks help over jailed pirates

Strait Talk

Turbulent times ahead for shipping
IT EMERGED last week that some shipping companies now have debt-to-equity ratios as high as 1,000 per cent. The reason for this is, of course, a massive decline in ship values, which is one of the clearest indicators of the deep trouble much of shipping is now in.

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New Maersk Line CEO cries 'slow down - we're destroying shareholder value' Seven carrier pact prepares to get underway on CKYH's Asia-Europe loops Asia to hold lead as world's port growth slows 7pc in 2012: Shanghai study Busan still 5th at 16.2 million TEU in 2011, but 14pc growth tops megaports Kuehne + Nagel profit up 0.16pc to US$665 million as revenue falls 3.5pc Xijiang river ports capacity to top 100 million tonnes this year MSC shifts megaships to transpac, but not larger vessels to Asia-Europe New US$475 million container terminal planned for Liverpool in 2015 Container throughput between Hamburg and Poland increases 33pc in 2011 Port of Houston offers Asian shippers new gateway to US Midwest RCL suffers US$25.8 million loss after US$15.4 million profit in 2010 Kuehne + Nagel pioneers wireless sensors for temp-controlled air freight Swissport starts cargo handling service at Japan's Kansai airport Beihai Airport February cargo throughput surges 56.6pc to 291.9 tonnes

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INTTRA delivers first multi-party electronic Bill of Lading on its ocean network Khimji Poonja re-attains ISO standard 9001:2008 MOL to regularly publish KPI results West African waters a new piracy hotspot Port of Zeebrugge Vice-President meets MbPT Chairman Air India upgrades to seamless cargo operations World airfreight down 0.7 pc in 2011, up 1.9 pc in Europe Cotton export ban flayed Exporters to be in tight spot in 2012-13-Experts Exports to be sluggish this fiscal: Fieo President Euro economic confidence higher than forecasts Standard practices for L/C - UCP 600

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MARCH 6, 2012
Mercator's "SkyChain" implemented for AviancaTaca Holding Mercator, the Dubai (UAE)-based provider of business technologies to the aviation industry, has announced that Latin America's second largest airline holding company, AviancaTaca H... China Southern buying ten B777-300ERs The US plane maker Boeing has announced that China Southern Airlines agreed to buy ten B777-300ERs, as the airline plans to expand its capacity to meet growing demand in the Asia-P... MAN generates record revenue in 2011 Germany's MAN Group posted record revenues of EUR 16.5 billion (+12%) in 2011. The upsurge was primarily driven by the commercial vehicles sector (comprising MAN Truck & Bus an... Multitrade Spain manages a massive 336 railcar project Multitrade Spain, a member of the Cargo Equipment Experts CEE network, is handling a massive 336 car project from CAF in Spain to Caracas (Venezuela). In order to improve the handl... 2012 starts well for Dunkirk The French port of Dunkirk reported promising figures in January 2012. Some 4.04 million t of goods were handled that month, equating to 12% more than in January 2011. Although liq... HSE24 renews and strengthens partnership with DHL The Munich (Germany)-based multi-channel mail-order company, HSE24 (Home Shopping Europe), has once again chosen DHL to fulfil its logistics needs. According to the deal, DHL will ... Pantos Logistics opens new logistics centre in the Netherlands Pantos Logistics, the largest freight logistics business in South Korea, recently opened its Ssangyong Motor European Parts Logistics Center (SEPC) in the Netherlands. The SEPC, lo... Rickmers-Linie expands its China coverage Rickmers-Linie is expanding in China and enhancing its sales and marketing activities into central and southern China, thus moving closer to the major industrial production facilit... Hoyer Group expanding in Eastern Europe The Hamburg (Germany)-based Hoyer Group has opened a new branch office in St Petersburg (Russia). It is the logistics service provider's fourth in central and Eastern Europe after ... Kombiverkehr's managing director celebrating Robert Breuhahn, the managing director of the Frankfurt (Germany)-based intermodal service provider Kombiverkehr, is celebrating 35 years with the company. Breuhahn began his caree... OOCL increases rates on 1 April The Hong Kong-based shipping company Orient Overseas Container Line (OOCL) is raising the rates for its Southeast Asia-Australia services on 1 April. The increase of USD 200/teu wi... European Railway Agency becomes the single authority in Europe The Community of European Railway and Infrastructure Companies (CER) and the Association of the European Rail Industry (UNIFE) have presented their joint vision on the future role ... Daimler unveils new HGVs for India Daimler India Commercial Vehicles (DICV), a subsidiary of the Germany-based Daimler corporation, has unveiled the first light to heavy duty BharatBenz trucks weighing 9 to 49 t for... Icao secretary general re-elected for second term The council of the International Civil Aviation Organization (Icao) has appointed French national Raymond Benjamin as secretary general of the organization for a second three-year ... Kenya Airways eyes Japan market Kenya Airways appointed Sunworld Air Services Corp as ground sales agent for the Japanese market, with effect from 1 February. The ultimate goal is to establish direct air link bet...

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MARCH 6, 2012
MOL to demo LNG burning on temporarily modified newbuild engine APL to fit fuel emulsification system to main engine of 10,000 TEU box ship Chinese shipyard to build Damen sightseeing ferry

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MARCH 6, 2012
Port of Longview continues string of record breaking years in 2011 Port of Olympia boatyard earns 'Clean' designation Three firms seek pre-qualification for construction of Panama Canal bridge Coast Guard Port Captain gives order to allow detained ship to leave Portland Federal Maritime Commission inks service contract final rule

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MARCH 6, 2012
Lack of experience poses danger Reliance on advanced technology has diluted the previously hard-earned hands-on skills that seafarers and engineers gained on vessels of an earlier age Slow steaming benefits shippers and consignees Maritime transport should be looked upon as a pipe and not as a series of high-speed projectiles Growth of the go-betweens Will middlemen match solid PMSCs to clients or open the industry to cut-price cowboys? London market to help IUMI find its voice More collaboration is possible across the marine insurance market Fragile international hull market needs repricing Costa Concordia 'poured petrol' on the problem, says JHC chairman Mark Edmondson Container volumes flatline in January But Europe-Asia recovering compared with this time last year Pacific Basin's big picture Departing chief executive Klaus Nyborg describes the Hong Kong dry bulk operator's mode of staying nimble in a tough market Containership fleet slows speeds 13% over a year to an average 14.9 knots RS Platou Economic Research shows lines cutting speeds more than tankers and bulkers Mediterranean aframax market sees first rates spike of 2012 Asian market flounders on lack of Indian demand Long range tankers in demand, sale shows Bank-led sale of six-year-old vessels nets $34m each Costa Cruises in fresh salvage woes French fishing vessel could file $1.3m Costa Allegra salvage claim Fincantieri to carry out $155m refit of Carnival Destiny World's first 100,000 gt cruiseship to return to original builder for radical transformation and a new name Louis charters bigger ship to Thomson to focus on short cruises Cypriot company rebrands itself as east Med niche player Allied begs owners for 'forbearance' Greek dry-bulk operator blames charter woes on 'extraordinary' events Bankers will back chemical and product tankers DVB Bank sees attractive lending prospects despite tight shipfinance market Long Beach prepares for Pacific ultra-large boxship switch Overcapacity on Asia-Europe trades brings cascade of larger tonnage Rio Tinto to pump $2bn into Indian mine Orissa project will export iron ore State government bids for Duisburg stake North Rhine-Westphalia blocks overtures from Antwerp or Rotterdam ICTSI to expand in Pakistan on strong 2011 results Manila-listed port operator to buy up to 55% of Karachi's PICT Penning to investigate armed guard insurance Minister demands transparency on costs Staying with shipping James Fisher and Sons' ships not only turn a profit, but also underpin its expertise in everything else it does China slows down More measured expansion of China's economy could accelerate needed reforms in shipping VDR brings in two new managing directors German shipowners' association aims to improve lobbying work in Berlin, Brussels and London Shipping stands out as worst performer for James Fisher Company set to cut sharply its coastal tankers operation Low sulphur regulations to create huge demand for gasoil in Europe Product tankers set to benefit from 'overnight surge' in demand to import low sulphur fuel South Korea increases its ship export values in February The world's top vessel exporter sees international orders fall

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MARCH 6, 2012
Seychelles inundated with pirate suspects THE INFLUX pirate suspects captured by warship crews is threatening to overwhelm Seychelles, IHS Global Insight reported today Allied: 'forbearance', please GREEK charterer Allied Maritime told Fairplay today it is asking counterparties to give it time to resolve its "extreme squeeze" China plans biggest Oz coal stake CHINA'S government-owned Yanzhou Coal today said it plans to combine with Gloucester Coal, in what would be the country's biggest coal investment in Australia Crewman sought off Ireland SEARCHERS are today trying to find a missing seafarer off Ireland, the Irish Coast Guard told Fairplay MPP owners limp along OWNERS of multipurpose/heavy-lift tonnage continue to struggle with a scarcity of project cargoes and operators' period needs Collision confirmed in fatal sinking GREEK coastguards today confirmed that a refuelling tanker struck a marked shipwreck in the Elefsis Gulf, causing its fatal sinking Eimskip buys 3 reefers EIMSKIP of Iceland said today it has acquired three 3,625gt reefer vessels it has operated on charter since 2005 Mega-ships seen shrinking container players LARGER-capacity box ships starting to enter the liner trade will shrink the number of operators from 20 large global players in 2012 to eight in less than 15 years, an analyst has predicted Export uptick seen for Indonesian coal INDONESIA's coal shippers - sluggish because of high stockpiles in China - could be in for a short-term uptick, CIMB Securities predicted today Thai vehicle sector recovers THAILAND'S auto industry has recovered from the floods in December 2011, with original equipment manufacturers ramping up production Box rate stability sought TRANS-Pacific box rates must reach compensatory levels to prevent bankruptcies, a major carrier chairman asserted today Ban snarls India's ports DELHI'S sudden ban on cotton exports today left ports congested and exporters in a quandary BLT returning FSL tankers INDONESIA'S chemical specialist BLT said today it would comply with First Ship Lease Trust's request to redeliver three chemical tankers Sale sparks Sembcorp share dive SINGAPORE rig builder Sembcorp Marine's share price dived today on news that Temasek Holdings would sell almost all its interests in SMM FIS offers fuel oil swaps BUNKER prices at key ports plunged today amid falling crude prices and paper trades for fuel oil and gas oil

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MARCH 6, 2012
FedEx, Smith to Roll Out All-Electric Step Van Smith Electric Vehicles expanded its line of commercial trucks, introducing the Newton Step Van at the NTEA Work Truck Show... Mayors Urge Congress to Enact Transport Bill Nearly 200 mayors joined the chorus of local officials and businesses urging Congress to enact multiyear surface transportation legislation while... Indian Authority Slashes Rates at DP World Nehru Terminal India's Tariff Authority for Major Ports ordered a 27.85 percent reduction in tariffs currently levied by Nhava Sheva International Container... LTL Trucking Grew 11.6 Percent in 2011 The less-than-truckload transportation industry grew 11.6 percent in 2011, pushing total U.S. LTL revenue past $30 billion for the first... CEVA Logistics Earnings Up 9.9 Percent CEVA Logistics' earnings grew by 9.9 percent in 2011 year-over-year to $421 million on cost cuts and improved efficiency, as... Asia-Pacific Air Cargo Slumps Air cargo volumes in the Asia-Pacific region fell nearly 13 percent in January compared to a year earlier. The... Daily Maersk May Add Routes Just four months after launching its Daily Maersk liner service in the Asia-Europe trade, Maersk Line says it could expand... Liverpool Port Terminal Work to Begin Next Year The port of Liverpool will start construction early next year on a $480 million, deep water container terminal with an... Single Border Portal Tops Importers' Wish List With dozens of federal agencies having some degree of involvement in the cargo clearance process, importers are crying out for... Exporters Criticize Documentation Problems Exporters are complaining about inaccuracies in ocean carriers' electronic data that expose shippers to costs and delays. Forwarder... China's Rising Labor Costs, Middle Class' Increased Consumption - Live From TPM 2012 In this podcast, JOC Editor Mark Szakonyi reports live from TPM Long Beach 2012 after attending Monday's session, "China: Major economic,... Harbor Maintenance Tax Debate - Live From TPM Long Beach 2012 JOC Editor Peter T. Leach reports live from TPM Long Beach 2012 just after attending Monday's afternoon session, "Should U.S....

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MARCH 6, 2012
Why ocean carriers should treat a complaint as a gift With the huge volatility in container ocean freight rates about to swing back in favour of the liners on the blue-chip Asia to Europe tradelane - albeit temporarily ... K+N's 'Go for Growth' strategy on target Senior executives of Switzerland-based Kuehne + Nagel (K+N) have confirmed that the group's 'Go for Growth' strategy is proceeding according to plan. Based on results ... OPDR improves services Hamburg-based OPDR will improve its short-sea services between Northern Europe and the Iberian peninsula/Canary Islands on . Tilbury will be added ... Al-Faw breakwater tender nears New rail link planned between Kenya and Ethiopia The Governments of Kenya and Ethiopia are to co-operate on the building of a standard gauge rail link connecting the new port being built at Lamu with the Ethiopian ... Maersk rolls out its latest 'Absolute Reliability' module The world largest liner shipping company Maersk Line, has teamed up with North America's largest mover of containers by rail BNSF, to offer a new guaranteed and ... Asia-Europe rates rocket skywards As expected, ocean carriers implemented most of the recently announced massive general rate increases from Asia to Europe on March 1, 2012. The average all-in rate ... Liverpool's new terminal takes another step forward Peel Ports has commenced the procurement phase of the construction of its new deep-water container terminal at the Port of Liverpool. Although the project was announced ... Chinese growth cut stymies stocks Investors are worried about China. Stocks were hit yesterday by news that the Asian economic superpower had slashed its GDP prediction for 2012 to an eight-year ... TPM: Calls for increased service focus amid optimism for better rates/volumes The transpacific trade will be better this year than in 2011 - but shippers and carriers must work together to restore rates and the focus must shift ...

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MARCH 6, 2012
Search on for crewman Slovakian seafarer reported lost from German cargoship in the Irish Sea. Fugro wins huge contracts Seismic shipowner bags $120m surveys in the North Sea and Africa. Shipowners or masochists? Restructuring expert Aage Figenschou delivers a painful shot for those hoping history has taught you anything. Carnival changes its Destiny Sixteen-year-old US cruiseship lined up for massive $155m refit at Fincantieri in Italy. Fire hits cargoship Firefighters called in to tackle blaze on Thorco Celebration at San Sebastian, Brazil. Maersk Supply scores in Brazil AP Moller-Maersk's offshore support vessel wing nets a trio of long-term charters worth nearly $300m with biggest customer Petrobras. Allcargo eyes two more Indian multipurpose player wants to add vessels to its fleet as it reorganises its business. SCI targets European loans Indian owner lining up $500m in overseas borrowing to fund 10 newbuildings. Swiber wins more Singapore-listed offshore owner bags $36m charter deals to take year to date orderbook past $250m. Three down for Tankerska One loss-making aframax still to be sold as Croatian owner offloads third tanker since November. Nordic picks up FSL trio Copenhagen-listed company to manage FSL Trust vessels handed back by Berlian Laju. Fisher tankers up profit UK shipping services player sees small 2011 improvement from products fleet, but its importance to the group is dwindling. Cochin wins state order Indian shipbuilder signs $22m deal from ministry of shipping for multipurpose vessel. Mipo muted until 2013 Korean analyst forecasts continued low margins for shipbuilder, but says products tanker orders will increase. Ferry fire doused No injuries reported after blaze breaks out on Red Sea passenger vessel en route to Egypt.

- Ocean news	web site
MARCH 6, 2012
Maersk's Flagship intermodal service via LA New G6 Alliance network emerges Virgin aims at Chicago air cargo DHL expands Asia coverage U-Freight dresses up fashion warehouse Increased ship layups seen in coming year FMC's final rule on indexed service contracts Industry opposes Obama tax on overseas profits APMT, MIV build Indian freight station Xata, ALK offer integrated truck platform

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MARCH 6, 2012
Canadian review board denies fuel barge winter access in Steensby Inlet Board expressed concern over comments referring to 'the heightened potential for a large and undetected fuel spill and concerns over the difficulty of having effective spill response to address releases on and under sea ice.' Virgin Islands seeks Economic Disaster Declaration for refinery closure It is reported that following the shutdown, the complex will operate as an oil storage terminal. MEPC 63: 'No go' yet for MBM impact study IMO committee unable to agree on terms of reference for study with focus on possible impacts of MBMs on developing countries. Fujairah prices firmed Sources say Suez market is running 'dry'. European players report smaller stems High prices keeping purchases to a minimum. Rotterdam prices lack direction Rotterdam player expects low sulphur material to be tight for the next few days. Piracy: 'Speeding through risk areas' drives up bunker consumption Indian Ocean piracy is costing global economy 'up to $15 billion per year.' Company promises 'aggressive' marketing of its LNG technology Mitsubishi Heavy Industries has developed system for supplying high-pressure gas to a marine engine. Price of IFO380 grade mixed at key Asian ports Demand 'below average' on Tuesday. Patent filed for LNG bunker technology Invention able to reduce number of refrigerating modules for LNG re-liquefaction. Dan-Bunkering senior bunker trader promoted Appointment comes as company seeks to expand. Vessels using low sulphur fuel will have port dues halved HK scheme will run for three years at an estimated cost of HK$260 million. Glencore reveals details on Chemoil share acquisition Says it paid $174 million for additional 37.5% stake in Chemoil. Berlian Laju appoints restructuring specialist Group hopes to come through its current difficulties 'even stronger' than it was before. No activity in SGX fuel oil futures since start of 2012 Zero lots of 380 cSt fuel oil futures traded on SGX since January. Bunkering activities help lift Singapore-listed firm to profit Group hopeful of staying on 'an even keel' in full year 2012.