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It could be the worst maritime insurance loss
Wrecked cruiseliner Costa Concordia could turn out to be the biggest insured loss in maritime history, analysts and industry experts say, with some suggesting insurers and mutual societies could end up shouldering US$1 billion in losses.
Dirty-tanker rates likely to surge as oil demand rises
Rates for dirty tankers on key Asian freight routes are expected to surge over the next week on rising shipping demand to transport Middle East crude ahead of Chinese New Year holidays, ship brokers said yesterday.
Baltic index falls to lowest in nearly 3 years
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in nearly three years as the market continued to struggle with surplus vessels and sluggish cargo demand.
Suezmaxes poised for worst year in decade

Strait Talk

Let's wait for the inquiry
IT IS still unclear how many people died in last Friday evening's cruiseship disaster off Italy. At the time of writing, the figures seem to be six confirmed dead and 16 others still unaccounted for.

Shipping Times

China train bookings for holiday not just a click away
Kevin Zhang enlisted four friends in Beijing to help with hours of mouse-clicking on Sunday night. Their task - booking his Chinese New Year train tickets.

web site

Shipping News

It could be the worst maritime insurance loss
Wrecked cruiseliner Costa Concordia could turn out to be the biggest insured loss in maritime history, analysts and industry experts say, with some suggesting insurers and mutual societies could end up shouldering US$1 billion in losses.
Dirty-tanker rates likely to surge as oil demand rises
Rates for dirty tankers on key Asian freight routes are expected to surge over the next week on rising shipping demand to transport Middle East crude ahead of Chinese New Year holidays, ship brokers said yesterday.
Baltic index falls to lowest in nearly 3 years
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in nearly three years as the market continued to struggle with surplus vessels and sluggish cargo demand.
Suezmaxes poised for worst year in decade

Strait Talk

Let's wait for the inquiry
IT IS still unclear how many people died in last Friday evening's cruiseship disaster off Italy. At the time of writing, the figures seem to be six confirmed dead and 16 others still unaccounted for.

Shipping Times

China train bookings for holiday not just a click away
Kevin Zhang enlisted four friends in Beijing to help with hours of mouse-clicking on Sunday night. Their task - booking his Chinese New Year train tickets.

web site

Shipping News

It could be the worst maritime insurance loss
Wrecked cruiseliner Costa Concordia could turn out to be the biggest insured loss in maritime history, analysts and industry experts say, with some suggesting insurers and mutual societies could end up shouldering US$1 billion in losses.
Dirty-tanker rates likely to surge as oil demand rises
Rates for dirty tankers on key Asian freight routes are expected to surge over the next week on rising shipping demand to transport Middle East crude ahead of Chinese New Year holidays, ship brokers said yesterday.
Baltic index falls to lowest in nearly 3 years
The Baltic Exchange's main sea freight index, which tracks rates to ship dry commodities, fell to its lowest in nearly three years as the market continued to struggle with surplus vessels and sluggish cargo demand.
Suezmaxes poised for worst year in decade

Strait Talk

Let's wait for the inquiry
IT IS still unclear how many people died in last Friday evening's cruiseship disaster off Italy. At the time of writing, the figures seem to be six confirmed dead and 16 others still unaccounted for.

Shipping Times

China train bookings for holiday not just a click away
Kevin Zhang enlisted four friends in Beijing to help with hours of mouse-clicking on Sunday night. Their task - booking his Chinese New Year train tickets.

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HK 2011 volume up 3pc to 24.4m TEU, Singapore up 5.3pc to 29.9m TEU CSAV shareholders to inject US$347 million as carrier's ranking sinks MSC renews with Freightliner through Hutchison's Port of Felixstowe Nigerian general strike ends after government vows 30pc cut in fuel price Queen Beatrix of the Netherlands tours Dubai's Jebel Ali container port ECU Line opens in Dalian, Wuhan, Nanjing, Hangzhou - China offices at 13 Yemeni government reportedly impatient with DP World over Aden terminal Moore Stephens: Industry mood buoyant as it faces difficult year ahead Cathay cargo volume declines 11.9pc to 142,122 tonnes in December Korean appeals court rules in favour of fining 16 air cargo carriers Air Canada refuses to fly monkeys to labs after outcry over China exports

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Alliances seen unlikely to end container lines problems on Asia-Europe routes Shippers urged to use forwarders with strong carrier relationships Ignoring US pressure, India mulling options to trade with Iran Adani group plans $ 1-bn deepwater port in Andhra Kochi Customs streamlines transhipment process Port of Liverpool offers significant benefits for Indian trade: Stephen Carr Thermal coal imports rise four-fold thru Paradip Port Vizag Port sets new MoP discharge record India's largest Chief Supply Chain Officer congregation on Feb. 2, 3 International air cargo bodies join outcry against EUs aviation carbon tax scheme

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JANUARY 17, 2012
Schneider National focuses on intermodal driver training Schneider National, a provider of truckload, intermodal and logistics services in North America, will unveil a focused new approach to training its intermodal truck drivers in 2012... Challenges ahead for the shipping industry The two shipping consultants firms Drewry and Moore Stephens agree that a difficult time lies ahead for the shipping industry. According to Drewry the presently increasing rates wi... Arkas purchases 1,400 environment-friendly containers The Turkish Arkas Shipping and Transport group of companies has acquired around 1,400 environment-friendly 40-ft reefer containers. They are equipped with Carrier Transicold Prime ... Georg Hötte new president of German inland waterway association The board of the German inland waterway association (Bundesverband der Deutschen Binnenschiffahrt BDB) has unanimously elected Georg Hötte as the association's new president. Hötte... International Forwarding expands into the French Market The UK company International Forwarding has always been a major player in the French market to and from London and the Midlands (both UK), and its strength and expertise has result... Momentum builds for global aviation security strategy Fourteen Asia/Pacific States meeting in Kuala Lumpur (Malaysia), last week, adopted a comprehensive strategy to systematically improve passenger and cargo security throughout the... UK: FTA and Highways Agency on road to working closer together A Memorandum of Understanding (MoU) was signed in London (UK) by the chief executives of the Freight Transport Association (FTA) and the Highways Agency to bring better road infras... Réseau Ferré de France selects Bouygues for PPP high speed infrastructure project Railway infrastructure manager Réseau Ferré de France (RFF) has selected Bouygues for the public-private partnership (PPP) to realize a high speed infrastructure project. This EUR ... IAG Cargo takes delivery of final two B747-8Fs IAG Cargo, through its brand British Airways World Cargo, has taken delivery of its final two Boeing 747-8 freighters. The equipment recently arrived at Hong Kong airport from t... Afraa launches joint fuel purchase project The African Airlines Association (Afraa) launched a joint fuel purchase programme for nine of its member airlines last week, following the conclusion of evaluation of tender bids ... Imperial Logistics buys Snyman Transport South Africa-based Imperial Logistics has acquired international, cross border transporter IJ Snyman Transport. The acquisition of Snyman Transport, which operates in Angola, Democ... FedEx expands airport facility in Hong Kong US-based FedEx Express (FedEx), a subsidiary of FedEx Corp. and one of the world's largest express transportation companies, expanded its Hong Kong airport facility to enable great... UPS adding six new locations in Atlantic Canada The US express service provider UPS will be adding six new locations in Atlantic Canada, with cities in each of the four Atlantic provinces. UPS announced in November a network exp...

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JANUARY 17, 2012
LEEVAC companies consolidate under LEEVAC Shipyards LLC umbrella Dick Bollinger passes away Trailer Bridge unveils plan to exit Chapter 11 IHC Offshore Systems in "hush hush" deal Divers retrieve five more bodies from Costa Concordia Hercules liftboat engulfed in fire on adjacent rig

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JANUARY 17, 2012
Jensen designed workboat delivered to Port of Milwaukee Port Metro Vancouver seeking waterfront committee applications Womens' transportation association taps Denver for annual conference Pacific Northwest universities in line for DOT grant funds More union members ratify new contracts with railroads

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JANUARY 17, 2012
CSAV lands $347m capital injection Quienenco and Maritimia de Inversiones back troubled container carrier Kiel turnover sets fresh record Growth supported mainly by ferries EU opens way for member states to have own accident investigation units Directive requires nations to play role in improving maritime safety and better preventing pollution China steams into VLCC spot market ahead of holidays Earnings rise $8,000 since last week Caribbean aframax rates spike on winds and port delays Cross-Mediterranean rates continue inexorable march towards zero earnings. India plans $1bn LNG import facility New terminal to receive liquefied natural gas from fledgling US export industry Saudi Arabia to double refining capacity Kingdom accelerates investment in China Rio Tinto and Fortescue produce record amounts of iron ore Increased volumes provide employment for growing fleet of capesize bulk carriers EXCLUSIVE: Earlier Carnival vessel power failure prompts Costa Concordia comparison Carnival Splendor, left drifting without power off Mexico in 2010, was built to a modification of the Concordia design Chinese economy averts 'hard landing' with 9% GDP growth News could see monetary policy ease, boosting dry bulk Sky-high Costa Concordia costs prompt cruise cover re-think Cruiseships face hefty rise in premium and may struggle to find P&I cover BDI slips below 1,000 points for the first time since January 2009 Capesize crash sees Pacific round voyages at a sixth of their price a month ago Audio recordings hear coastguard order captain back on ship Heated exchange after Costa Concordia master Francesco Schettino leaves his watch Timeline - Vale Beijing Five troubled months since South Korea launch What caused Vale Beijing to crack? Vale's $8bn investment waits for inquiry to pin down the cause Looking for lessons The industry must engage itself with the Costa Concordia investigation and ensure that there is an informed debate led by experts and genuine analysis Skuld wins specialist business from Great Lakes Diversification pays off for P&I club Q&A: Peter Dobbs, head of asset protection at Catlin The evolving K&R market Experts play down fears that Costa Concordia will slip into deeper water Sensors register slight movement but vessel remains wedged on rocks When will the courts act to restrain ship sales? Recent case serves as a reminder that a court will not readily intervene in the arbitral process unless the sale is imminent and the vessel is unusually unique Intra-Asia box trade growth could level off Several lines have focused on intra-Asia trades to counter decline in other markets Seacor becomes main stakeholder in Trailer Bridge Conglomerate pledges to return Jones Act company to profit after Chapter 11 shakeup Contship to sell Medcentre Container Terminal stake Terminal Investment Ltd to buy 50% of CSM Italia-Gate, the company controlling 66.7% of MCT SMIT to start removing stricken cruiseship's fuel Company needs approval to start hot-tapping UASC to extend jointly-run Asia-Europe service into Middle East Move comes despite an expected weakening in container trade demand Costa Concordia: what next? The Costa Concordia casualty will set the agenda for 2012 and beyond

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JANUARY 17, 2012
Nigeria port crisis ends NIGERIA'S port-threatening union crisis is over, IHS World Markets Energy reported today Trailer Bridge reveals Seacor restructuring role NYSE-listed Seacor will become the largest shareholder in the reorganised Trailer Bridge under a Chapter 11 exit plan announced today Proposal to bar nuclear cargo assailed SHIPPING in Bremen/Bremerhaven - Germany's second-biggest port - today threatened legal action against a proposed nuclear cargo ban Phnom Penh rises 31% Shipments through PPAP in Cambodia increased 31% year-on-year in 2011 Newcastle ups port charges SHIPOWNERS will have to pay more for using PWCS and NCIG coal terminals in Australia from 27 February Ust-Luga stands out RUSSIAN port throughput reached 535.4M tonnes in 2011, which included growth of nearly 20% in box traffic COSCO Shipping's profits fall nearly 55% COSCO'S special general cargo subsidiary COSCO Shipping today said net profits for 2011 fell 54.8% from the previous year Chinese oil import growth slows CHINESE customs data has revealed it imported 161.2M barrels - or 5.2M barrels per day - of crude in December 2011, a year-on-year increase of 251,000 barrels/day, or 5% Box sector thinks small HANDYSIZE box ships have been dominating chartering markets, as these vessels are most suitable for the flourishing intra-Asia trade Skaugen shifting focus IM SKAUGEN disclosed losses today and said it has completed its 10-year LPG fleet renewal programme Ship sinks during first test CHINA'S Maritime Safety Administration has said a brand-new offshore vessel sank this weekend on its first test voyage Rio Tinto, FMG post higher iron ore output AUSTRALIAN mining companies Rio Tinto and FMG today announced increased iron ore production figures for 2011 Concordia death toll rises ITALY'S coastguards today updated the toll of known deaths in the Costa Concordia disaster to seven known killed and 28 people missing

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JANUARY 17, 2012
St. Lawrence Seaway Traffic Rose 2.5 Percent Last Year Tonnage shipped on the St. Lawrence Seaway in 2011 rose 2.5 percent year-over-year, reflecting a general improvement in the economy,... Timeline of Container Ship Rena Wreckage (Photo Slideshow) Rena, a container ship owned by Costamare, has been grounded on a reef in the Bay of Plenty off the... Port of LA Exports Grew 9.2 Percent in December Containerized exports increased 9.2 percent in December at the Port of Los Angeles, capping off the second straight year of... MSC Hikes US to Far East Rates Mediterranean Shipping will raise rates from the United States to the Far East, effective March 1, as the container line... JOC's Szakonyi Tours Port of Colon, Free Trade Zone (Video) On the second day of a two-day tour of Panama, JOC Editor Mark Szakonyi rides the Panama Canal Railway to... US Steel Exports Near Pre-Recession Levels U.S. steel exports were up 10.6 percent through the first 11 months of last year and approached pre-recession levels, government... Maersk Sells Gilbert Company to Logistics Firm's Founders GPR Logistics said it acquired the East Coast facilities and operations of the Gilbert Company from Maersk Inc. the U.S.... Former YRC Worldwide CFO Joins Menlo Sheila Taylor, the former chief financial officer who helped troubled trucking giant YRC Worldwide steer clear of bankruptcy, joined Menlo... Trailer Bridge Unveils Plan to Exit Chapter 11 Trailer Bridge said its majority bondholders have agreed on a restructuring plan that could allow the U.S.-Puerto Rico carrier to... Carriers Expand Asia-Europe Service to Middle East Routes CMA CGM, China Shipping Container Line and United Arab Shipping Co. are extending their jointly operated Asia-North Europe service to... Alphaliner Expects Far East Rate Rally to Fizzle The strong rally in ocean freight rates out of the Far East since the beginning of the year will likely... Schneider, CSX Sign Multiyear Intermodal Pact Trucking giant Schneider National and CSX Transportation signed a multiyear contract expanding their intermodal partnership in the Eastern U.S. ... Panama Canal Expansion Stalls After Labor Walkout Construction of the third set of locks at the Panama Canal ground to a halt Monday when thousands of workers... Japan Airlines Taps Ex-Pilot Ueki as President Struggling Japan Airlines Corp. announced changes in its top leadership on Tuesday, including the promotion of senior managing executive officer... Somali Pirates Release Chemical Tanker, Indian Crew Somali pirates released the Fairchem Bogey, a Marshall Islands-flag chemical tanker, and its all-Indian crew on Jan. 14 after five... Royal Bank of Scotland Sells Aircraft Leasing Unit The Royal Bank of Scotland is selling its aircraft leasing business to Sumitomo Mitsui Financial Group, Japan's second largest bank,... Contship Sells Stake in Italian Terminal to MSC Affiliate Contship Italia is selling a 50 percent stake in the company that controls the troubled Gioia Tauro container transshipment terminal...

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JANUARY 17, 2012
Oil: is the wolf finally at the door? The fragile western economies are figuratively speaking over a barrel: the future price of black gold could be the catalyst to a raft of deep ... CSCL, CMA CGM and UASC get closer together CSCL, CMA CGM and UASC have agreed to deepen their vessel sharing agreement in the AEX7/FAL2/AEC8 service between Asia and Northern Europe through the deployment ... Contship Italia sells third of Gioia Tauro Contship Italia has sold 50% of its 66.7% stake in Medcenter Container Terminal (MCT) to Terminal Investment Limited (TIL), a company closely related to MSC. This ... Demolition declines in 2011 In 2011 74,508TEU of containership capacity was scrapped. This was down on the 83,000TEU broken up during 2010 and well short of the more than 300,000TEU removed ... CMHI's new Colombo terminal the 'beginning of many more' Sri Lanka investments China Merchants Holdings International (CMHI) recently started building its new Colombo container terminal in Sri Lanka - with the Hong Kong-headquartered terminal ... Safmarine confident on the Middle East region Safmarine expects another strong year when it comes to cargo growth in its Middle East trades but with freight rates likely to come under some pressure.While Stephen ... 'Insider' hijacked ship released by pirates A chemical tanker that was pirated last August while at anchor within the Salalah, Oman, port limits - and having just disembarked its armed security unit - has ... Kenyan Government shuffles Mombasa management The Government of Kenya has taken decisive action by announcing a series of management changes at the port of Mombasa, which is run by the state-controlled Kenya ... China's growth slows The effect of monetary tightening and a weakening of demand from Europe and the US has slowed growth in the world's second-biggest economy, China. In the final ... PoA: 'strike action highly irresponsible' That was the reaction today from Ports of Auckland [PoA] ceo, Tony Gibson after receiving a sixth strike notice of a 24-hour stoppage from 07:00 Tuesday, January ...

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JANUARY 17, 2012
GasLog lines up IPO Peter Livanos grabs the helm as Athens and Monaco-based LNG owner plots $350m assault on the capital markets. S&P downs OSG Shares of US-listed tanker owner continue to climb despite ratings downgrade as spot rates surge ahead of Chinese New Year. NSCSA soars in the fourth LPG investments help National Shipping Company of Saudi Arabia offset tanker market turmoil as profit jumps 105%. Axed order rattles Euronav Belgian tanker titan slides to staggering full-year loss as it takes the torch to Samsung newbuilding contract in the fourth. OSG facing UK fight Newcastle staff kick back in the face of New York-listed owner's redundancy plans. Seacor backs TRBR bailout Seacor Holdings and US financier pledge cash and strategic support to bankrupt liner group in exchange for majority stake. DeepOcean bags Brazil deal Norwegian owner chalks up a $60m long-term services contract with Petrobras. Tanks blamed for blast Inadequate decontamination after discharge may have caused fatal explosion on Edirne off Albania. STX takes Greek newbuilding South Korean owner hires new supramax from Soloi for up to three and a half years, brokers say. PRGN sounds charter alarm Deiulemar begs Michael Bodouroglou-led bulker owner for rate relief as renegotiation request threatens lucrative contract. "Do you want to go home?" Italian prosecutors release tape of port official ordering captain back on board stricken Costa Concordia.

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JANUARY 17, 2012
Prices firm across northern Europe Player reports tight avails for LS product in Hamburg. Fujairah 380 cSt prices unchanged Sharp drops in Suez. Costa Concordia: De-bunkering could start 'within a day' Insurers may face 'most costly marine loss on record' Industry poll predicts few issues with new global sulphur limit Most respondents expecting no problems with 3.50% maximum limit from the start of 2012, or very soon. Dutch bunker supplier awarded AEO certificate Golden Arrow Bunkering will be subject to fewer 'administrative rules'. North European hub port in LNG feasibility study Flemish port authorities 'optimistic about the potential for safe and efficient LNG bunker operations.' Singapore squeezed by Chinese and Mideast demand 'Bullish pricing interests' to hold sway, say fuel oil traders. Weak demand growth 'growing threat' to market recovery No ready market to fully absorb tonnage made redundant by larger ships, says Alphaliner. Brightoil sees 'remarkable growth' in bunkering business Operations in Singapore generated 75% of group's total revenue in financial year 2011. Asian bunker prices rise Demand average across key Asian bunker ports on Tuesday. Liquid leaking from stricken cruise ship It is not clear if the liquid was fuel, says Italy's environment minister. ISS to help owners comply with China pollution law Maritime services provider will help ease 'administrative burden'. Philippine oil firm acquires bunker supplier Acquisition will establish its operations inside the Subic Bay Freeport Zone. South China monthly fuel oil stocks to increase in January Import volume in January to average around 200,000 mt, 18% more than previous month. Tight supplies across South Korea's western ports Local refiners halt offers to the spot market. Global Vision Bunkers promotes staff, hires manager Eileen Speer joins Global Vision office in UK as group business development manager. WFS targets TPC Korea vessel in the US In efforts to secure outstanding bunker payments of over half a million dollar from the South Korean shipowner. Dan-Bunkering welcomes new staff New office assistant in Dan-Bunkering's Copenhagen office.