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Shipping News

Container lines may need US$20b of short-term funds
Container-shipping lines may need to raise about US$20 billion in short-term funds this year as they contend with unprofitable freight rates and rising fuel prices, according to Alphaliner.
Panamax rates set to rise 25% in Q2
Ship owners are anchoring the most commodity carriers since at least 2008 after the biggest slump in rates for more than a decade, cutting capacity just as Brazilian farmers prepare for record soya bean exports.
French court could annul Total verdict
France's highest court could annul a verdict against national oil giant Total over a devastating 1999 oil spill off the Brittany coast, a legal source said last Friday.
App aims to spare whales from ships in Atlantic

Strait Talk

Industry looks on the bright side
THE shipping papers have been full of reports of shipping companies in financial straits in recent weeks while other stories have focused on how owners are trimming their costs in the face of low rates and high bunker prices.

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Shipping News

Container lines may need US$20b of short-term funds
Container-shipping lines may need to raise about US$20 billion in short-term funds this year as they contend with unprofitable freight rates and rising fuel prices, according to Alphaliner.
Panamax rates set to rise 25% in Q2
Ship owners are anchoring the most commodity carriers since at least 2008 after the biggest slump in rates for more than a decade, cutting capacity just as Brazilian farmers prepare for record soya bean exports.
French court could annul Total verdict
France's highest court could annul a verdict against national oil giant Total over a devastating 1999 oil spill off the Brittany coast, a legal source said last Friday.
App aims to spare whales from ships in Atlantic

Strait Talk

Industry looks on the bright side
THE shipping papers have been full of reports of shipping companies in financial straits in recent weeks while other stories have focused on how owners are trimming their costs in the face of low rates and high bunker prices.

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AADA to raise rates from China and Hong Kong to Australia from May 15 Market hits bottom, says Shanghai International Shipping Institute study WTSA carriers propose rate hikes for US-Asia trades from May 15 Drewry warns rates under increasing threat as capacity soars unchecked Obscure Daina Shipping charged in New Zealand containership disaster Fremantle dockside reefer box fire breaks out, setting 11 boxes ablaze Dutch dredgers open Mombasa to 4,500-TEUers, raising 2,000-TEU limit APL on course to reduce carbon emissions by 30pc within three years Clogged roads into Chennai slow box flow, though docks now in good order Chennai terminal doubles capacity with 4 new quay cranes and 8 RTGs UASC names 13,500-TEU Al Ula, bound for Asia-north Europe service Amsterdam's surviving box volume declines 28pc, but total cargo up 3pc Fruit South Africa seeks enhanced export supply chain to ensure survival Arab Air Carriers Organisation condemns European Union carbon tax General sales agent ECS takes controlling interest in Niger Air Cargo Venezuela rejects EU ban on EU landings, vows countervailing measures Snake on Australian cargo flight sends pilot back to Darwin airport

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DCI to procure hopper capacity dredgers: Vasan INTTRA announces alliance with WCA Family of Logistic Networks MoS scales down capacity addition targets Piracy: Prevention is better than cure, says AtoBviaC TKM India comes up with distinct solution to move heavy lift consignment to Turkey India looks to Qatar for more oil, gas India, UAE sign Customs cooperation pact Iran to increase imports of Indian farm produce Arshiya Rail Infrastructure becomes first private container train operator to commence domestic operations from Cochin Port CONCOR to commission AFS Mulund today Emirates SkyCargo wins Platinum at Air Cargo Excellence Awards Fieo to ink MoU for boosting transactions thru e-com Govt not to issue fresh registration for cotton exports Indo-US business ties to shape global economic destiny: Adi Godrej Pradeep Bhargava takes over as new Chairman of CII Western Region

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APRIL 10, 2012
DP World reports strong results DP World has announced strong financial results from its global portfolio of marine terminals for the twelve months to 31 December 2011, delivering a better than expected profit o... VTG improves operational result The Hamburg-based German company VTG Aktiengesellschaft, a leading European wagon hire and rail logistics enterprise, improved its operational results (ebitda) by 9% in 2011, to E... Scania to deliver more trucks to Zoomlion in China Zoomlion, China's leading concrete pump manufacturer, has again chosen Scania trucks for its largest mobile concrete pumps. In addition to 375 trucks being delivered in April, the... DSV Road restructuring services in Germany The Danish transport and logistics provider DSV is introducing a new range of services in its German overland transport business. The new options include full truck-load, part-tru... New CN steel-wheel interchange with CSXT in Chicago Canadian National Railway Company (CN) now offers a steel-wheel-interchange service with CSX Transportation (CSXT) in Chicago. The service gives container imports moving through C... Touw and Walgaard duo heads Karl Gross International in Rotterdam Karl Gross International, the Rotterdam-based subsidiary of the German freight forwarder Karl Gross Internationale Spedition, headquartered in Bremen, has had a duo at its head si... Deepening of Germany's river Elbe set to go ahead The government of the German state of Lower Saxony has become the third of the three German federal states involved to give the green light for the deepening of the fairway of the ... Gefco reports excellent results in 2011 Gefco, a French transport and logistics group, improved its sales by 13% to EUR 3.8 billion in 2011. The company's operational result attained a record EUR 223 million, the equival... Norbert Dentressangle opens new UK distribution centre Norbert Dentressangle has invested more than GBP 1 million in a new site at Rugby in the UK, primarily to serve as a national distribution centre for the Continental Tyre Group. No... Boeing's maintenance performance toolbox reaches milestone Boeing has announced that Star Air, a cargo airline based in Dragoer (Denmark) and which operates eleven Boeing B767Fs, is the 100th airline to sign up for its maintenance performa... Cathay Pacific rolls out e-AWB in Singapore and Malaysia Cathay Pacific Airways has introduced electronic air waybills in Singapore and Malaysia, as part of its efforts to promote a greener and more efficient airfreight industry. The air... USA bans Iranian cargo airline Yas Air The US department of the treasury has designated the Tehran-based Iranian cargo airline Yas Air as a company that acts for or on behalf of, or provides support to, a terrorist enti...

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APRIL 10, 2012
SEAJON christens first ATB built in Erie since 1972 Horizon Lines converts debt to stock and reaches deal with Ship... IHC Merwede gets financing in place to start pipelayer... OSG tanker involved in spill of HFO into Mississippi MacGregor mooring winches chosen for pipelaying OCVs TEN orders LNG carrier plus option from South Korean... Crowley promotes Julia Shemesh to VP and deputy general... Fairstar Heavy Transport newbuild duo closer to entering...

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APRIL 10, 2012
WTSA member carriers plan new round of rate increases Coast Guard releases vessel cleared of safety violations Crowley promotes Julia Shemesh to senior vice president/general counsel Horizon Lines completes cost-saving transactions Alaska Airlines to begin daily Portland to Pasco flights

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APRIL 10, 2012
Time for Chinese shipping to embrace offshore yuan funding The so-called dim sum bond market is expanding, and could offer a cheaper option to domestic Chinese maritime firms Yuan on the march Offshore payment volumes have soared this year Chapter 11 or Catch-22 - that is the question When bankruptcy means a new beginning for shipowners, what are the options available? Vast majority of supply chain claims could be prevented TT Club appeals to operators as a result of study Svitzer in talks to avert Liverpool strike Towage company and union go to conciliation Cosco's next move Chinese giant needs to present a clearer view of its way back to profit Easter holidays fail to move aframax market Pre-holiday rush does not materialise Widdows brings investor contacts to Rickmers New chief executive raises German group's international profile Hapag-Lloyd eyes 2013 public offering Carrier ponders expansion after outperforming the market China keeps up strong oil imports Crude stockpiling, new refining capacity and increased output from PetroChina and Sinopec support VLCC tanker demand Longer sailing distances boost LNG carriers' earning power Short-term market rates top $100,000 per day Iranians capture pirate kingpin Garaad Two seafarers confirmed killed in earlier rescue Ship Finance takes 10% of Horizon Lines in ship return deal Deal reduces Jones Act liner major's debt Where the greenbacks go This season, heavy hitters are mostly backing drillships French court may overturn Erika ruling Public prosecutor argues casualty was not in territorial waters TEN inks LNG newbuildings deal with Hyundai Heavy Greek owner sees 'growing role' for itself in liquefied natural gas and shuttle tankers FSL Trust to take equity in Torm in return for rates concessions Singapore-listed trust alters terms on two bareboat chemical tanker charters VLCC charterers accepting slower laden leg sailing speeds Tripling of bunker prices appears to have created more leniency in spot market, says RS Platou Economic Research Guangzhou Shipyard International warns of 50% drop in quarterly profits Hong Kong-listed builder hit by declining newbuilding prices China's Cabinet debates incentives for shipping Recommendations due in late June China Shipping Development faces first-quarter loss Falling coastal freight rates and high fuel prices take their toll Industry facing design challenges Decades' worth of ship performance data from AP Moller Maersk highlights concerns over design approval Fight for hearts and minds continues in valemax publicity war Two Oman Shipping valemaxes near completion as DNV emphasises VLOC safety No more Whacky Races: novel technologies getting good hearing Cynical industry starts to listen to new tech firms Scramble for Africa Offshore industry growth will boost shipping May rates rise for westbound transpacific cargo Carriers restore rates after last year's collapse Salvors rush to prevent Bareli splitting Metal fatigue weakens boxship grounded off Fuqing Aegean ties up with Sinopec unit Greek bunker supplier targets China presence DryShips to sell portion of Ocean Rig stake George Economou expected to privately buy into offering which aims to gross up to $175m

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APRIL 10, 2012
US container lines seek new rate rise BOX LINES are seeking yet another rate increase for westbound US exports in the trans-Pacific trade FSL takes TORM stake SINGAPORE'S FSL Trust will take a stake in embattled Danish products tanker and bulker operator TORM Hanoi arrests four more in VINASHIN inquiry POLICE in Vietnam are holding four more people in their inquiries into the near-collapse of government-owned shipping group VINASHIN, IHS Global Insight reported today US box import forecast edges down VOLUME forecasts for US box ports for April were ratcheted down slightly from a 3.6% increase predicted a month ago, to a 3.2% rise Captain sought in sinking SEARCHERS are looking today for the skipper of a French trawler missing since a collision with a Turkish products tanker India resumes rice exports to Iran INDIA'S rice exporters have started direct shipments to Iran after eight years EDF awarded wind farms FRENCH electricity producer EDF has been picked by Paris as top winner of its tender call to build wind farms off France's Channel and Atlantic coasts TEN places LNG bet NYSE-listed Tsakos Energy Navigation today firmed up its previously disclosed expansion plans by confirming an LNG newbuilding order Beijing orders newbuilding crisis report CHINA is reacting to a sharp drop in newbuildings by ordering a new report into how the government can arrest the fall, according to IHS Global Insight Wales salvage to start SALVORS are expected tomorrow to begin removing the wreck of a general cargo ship grounded in Wales, the UK Maritime & Coastguard Agency said Courage targets secondhand buys COURAGE Marine boss Hsu Chih Chien told Fairplay today he is eyeing more secondhand tonnage to expand its fleet Chinese, Turks winning breaker bingo CHINESE and Turkish breakers surprised market watchers by diverting older ships away from their South Asian rivals, which usually offer higher rates for them Key week seen for VLCCs BROKERS told Fairplay today that this week is pivotal for the VLCC rally, as very few April cargoes appear to remain Seafarers hurt in blast TWO MARINERS were recovering today from injuries suffered in an explosion aboard a Dutch LPG carrier in the Channel Bumitama Agri's potential touted CIMB Securities today lauded the potential of Indonesian palm oil grower Bumitama Agri and its Singapore IPO

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APRIL 10, 2012
Canadian Pacific Expects to Triple First Quarter Earnings Canadian Pacific Railway expects first fiscal quarter diluted earnings per share to be triple that of the same period a... Horizon Cuts Debt, Eliminates Charter Obligation Horizon Lines has completed transactions that reduce the company's net debt by $188.4 million and terminate obligations for five idle... Maryland Fuel Tax Hike Dies in Committee Maryland Gov. Martin O'Malley's proposal to raise the state gas tax by 6 percent, or roughly 18 cents, died in... Japanese Container Trade To Rise 3.3 Percent, Firm Says Japanese containerized cargo trade will rise 3.3 percent in fiscal 2012, which started on April 1, from fiscal 2011 to... OOCL Names Tung as New CEO OOCL named Andy Tung, its current chief operating officer, as its new chief executive, succeeding outgoing CEO Philip Chow, as... Carriers Face $20 Billion Cash Call in 2012, Alphaliner Says Ocean carriers could face a short-term funding call of up to $20 billion in 2012 as they are not generating... 3.2 Percent Rise Forecast in April Retail Container Traffic Import cargo volume at the nation's major container ports is expected to increase 3.2 percent in April compared to the... YRC Freight Implements Network Changes YRC Freight implemented two changes of operations over the April 7 weekend, reconfiguring its terminal network to speed freight and... British Airways-Iberia Cargo Volume Slips 2.9 Percent International Airlines Group, the merged British Airways-Iberia carrier, reported cargo traffic down 2.9 percent in March as an 11.2 percent... Air France-KLM Cargo Volume Dipped in March Air France-KLM carried 3.4 percent less cargo in March than a year ago as traffic fell sharply on its previously... Trans-Pacific Carriers Plan Another Round of Westbound Rate Hikes Container shipping lines in the Westbound Transpacific Stabilization Agreement have announced further rate hikes for dry and reefer cargoes to... US Auto Imports Wane While Exports Increase The U.S. auto trade is undergoing a sea change as the import share of the domestic market is set to... Busan Container Traffic Up 13.7 Percent in February The Korean hub of Busan saw total container traffic expand 13.7 percent in February compared to a year earlier. ... Increased Cargo Helped Boost Oman Air Revenues Rising cargo income saw Oman Air's total revenue jump 35 percent last year to OMR311.3 million ($807 million), but the... CMA CGM to Hike Rates on India-Europe Service CMA CGM will raise its rates on westbound cargo moving on its Epic service from India to North Europe and...

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APRIL 10, 2012
Saudi Arabia box throughput edges up in 2011 The number of containers handled at Saudi Arabian ports rose just over 7% in 2011 to 5.7 million TEU, a rate of growth that was just about in line with the global ... Last chance to have your say: join the North America sentiment panel Containerisation International's second North America survey has launched and is looking for more shippers and freight forwarders in this area to join the panel, ... Hellmann offers Goa gateway option Hellmann Healthcare Logistics, which is an operating division of Hamburg-based Hellmann Worldwide Logistics, has expanded the range of sea freight options available ... Bareli: 'breaking in two' The 3,100 TEU CMA CGM-chartered Bareli is in imminent danger of breaking in two, according to the salvage operators at the scene of the Fuquing, China, March 15 ... WTSA boosts rate restoration efforts Container shipping lines in the Westbound Transpacific Stabilization Agreement (WTSA) are recommending a further round of incremental rate increases to dry and ... INTTRA strikes alliance with global freight forwarder network New Jersey-headquartered e-commerce provider INTTRA, and forwarding group WCA Family of Logistic Networks have announced a strategic alliance to deliver ocean shipping ... CMA CGM/COMANAV improve Med-Morocco links CMA CGM and its Moroccan subsidiary, COMANAV are to upgrade their western Mediterranean-Morocco ro-ro and container services this week by offering dedicated and ... Hardware boost for PSA's Chennai terminal The booming Indian port of Chennai has received a capacity shot in the arm from the arrival of four new post-panamax ship-to-shore quay cranes and eight new RTGs ... Hapag-Lloyd to start Adriatic - Egypt service In May, Hamburg-based Hapag-Lloyd will start a new shuttle service linking Egypt and the Adriatic region. It will move both deepsea feeder and local import/export ...

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APRIL 10, 2012
The Fukushima effect What catalysts will drive the LNG market boom when Japan recovers from the collapse of its nuclear backbone? ORIG steals the spotlight DryShips may use cash generated by sale of shares in spinoff to fuel tanker, bulker and LNG drives, analyst says. Seabird extends Oslo-listed seismic survey specialist sets anchor in Brazil after Hawk Explorer lands data contract worth up to $8m. Tactics not tarot win the day A spot of clear thinking rather than a dash of supernatural helped claim Baltic gong, winner says. OSG aframax spills fuel oil USCG, MSRC and O'Brien's spring into action after Overseas Beryl sends 'Number 6' into busy US waterway. Rongsheng cools chop fears Chen Qiang-led yard confirms cancelled cape has found a new home after newswire reports sent shares crashing. Sun sets on SFI charters Ship Finance International takes boxships back ahead of schedule in exchange for slice of ailing operator Horizon Lines. TEN in LNG push New York-listed owner books newbuilding at Hyundai Heavy amid hope long-term contract will soon be in the bag. FSL takes a bite of Torm Singapore-listed company confirms it will take a stake in the chemical tanker owner in return for re-writing charters. Kayne in dual exit Hedge fund cashes in stock worth over $50m in Teekay Tankers and Knightsbridge. China Shipping Dev sees red Hong Kong-listed bulker and tanker owner expects to record a net loss during the first three months. Nam Cheong to ride the wave AMFraser tips Malaysian yard to stack up a larger profit as Petronas spending fuels orders. GSI fires profit warning Hong Kong-listed shipbuilder will see its first quarter bottom line tumble by 50%, investors told.

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APRIL 10, 2012
Guam legislator seeks changes to Jones Act Recognizing Cachaça and Bourbon IES gets Ocean AMS users on ACE Horizon in deal to return ships WTSA lines seek $50 per FEU rate hike Tung to become new OOCL chief COSCO raising Europe-ECSA rates Emirates joins Hyundia's Asia-Middle East loop Crowley names Shemesh VP, deputy general counsel Packaging with a face

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APRIL 10, 2012
New LNG carrier has tri-fuel design Ship can run on fuel oil, marine diesel/gas oil and natural gas. Fuel spill on the Mississippi River Tanker discharging bunker fuel into the river following vessel refuelling operations. Innovative newbuilds for Malaysian tanker firm New designs making significant strides in efficiency and safety for ship-to-ship transfers in US Gulf. Study backs push to reduce IMO flash point limit Research undertaken by FOBAS for Danish Shipowners' Association looks at widening marine distillate supply pool to help meet ECA and global demand. Prices softening in Rotterdam and Hamburg Lack of bunker demand in Rotterdam. Bunker prices falling in South Africa Cape Town sees double digit losses. US opens 'first ' bio-refinery Facility dedicated to producing bio-based versions of the range of fuels more commonly made from petroleum. Hong Kong: Switch to low-sulphur fuel should be 'compulsory' 'The voluntary approach is no way to go about making our air safe.' Bunker prices largely stable in Singapore Supplies of bunker fuel mainly fine among Asian ports, say traders. Bunker removal ops on grounded cargo ship completed Salvors remove remaining 24,000 litres of fuel oil, along with oily water and other hazardous materials removed from the vessel. Japan to set safety standards for LNG-fuelled vessels Japanese transport ministry plans to draw up safety standards by March 2013. 'Usual enforcement checks' to ensure compliance with ISO 8217:2010 All marine fuels supplied in Singapore will 'by default' meet the 2010 revision from July onwards, says local port authority. NOL, APL place order for energy and emissions optimisers Ship owners 'need accurate and error free measurements.' Box carriers facing 'increasingly difficult' funding environment Box carriers may need up to $20 billion for debt repayment and finance costs, says Alphaliner. South China refineries up fuel oil output by 15% in April Blending margins for domestic bunker fuel remain stable in early April.