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Shipping News

Rising risk of major spills as bigger ships built
THOUGH oil spills from accidents at sea are on the decline, the building of bigger ships means more catastrosphic spills in the future, said London Offshore Consultants (LOC), a UK-based marine and offshore consultancy yesterday.
LNG tanker rates surge on Japanese demand
Rates for tankers hauling liquefied natural gas are rising for a third year as expanding Japanese demand for the fuel attracts cargoes from the Atlantic, extending voyages at a time of shipping capacity shortages.
Closing Hormuz will halve Iraq oil exports
Iraq could lose more than half of its oil-exporting capability if neighbouring Iran shuts the vital Strait of Hormuz shipping lane, Iraq's planning minister said, adding no immediate alternatives would make up the shortfall.
Indian shipping firms will lose insurance due to Iran sanctions
NITC to pay back BNP Paribas loans
A new green era in shipping

Strait Talk

Can owners keep getting more ships built and ignore oversupply?
THIS is a busy week for International Chamber of Shipping (ICS) chairman Spyros Polemis. On Monday, he made a speech at the FT World Shipping Congress in Athens. Tomorrow, he will chair a session at The Economist's World Oceans Summit here in Singapore.

web site

Shipping News

Rising risk of major spills as bigger ships built
THOUGH oil spills from accidents at sea are on the decline, the building of bigger ships means more catastrosphic spills in the future, said London Offshore Consultants (LOC), a UK-based marine and offshore consultancy yesterday.
LNG tanker rates surge on Japanese demand
Rates for tankers hauling liquefied natural gas are rising for a third year as expanding Japanese demand for the fuel attracts cargoes from the Atlantic, extending voyages at a time of shipping capacity shortages.
Closing Hormuz will halve Iraq oil exports
Iraq could lose more than half of its oil-exporting capability if neighbouring Iran shuts the vital Strait of Hormuz shipping lane, Iraq's planning minister said, adding no immediate alternatives would make up the shortfall.
Indian shipping firms will lose insurance due to Iran sanctions
NITC to pay back BNP Paribas loans
A new green era in shipping

Strait Talk

Can owners keep getting more ships built and ignore oversupply?
THIS is a busy week for International Chamber of Shipping (ICS) chairman Spyros Polemis. On Monday, he made a speech at the FT World Shipping Congress in Athens. Tomorrow, he will chair a session at The Economist's World Oceans Summit here in Singapore.

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USAC to increase Asia to US east coast rates in March and again in May MSC may overtake Maersk in battle for giant box ships to gain market share Reality check: Asia-Europe conditions induce Maersk cut capacity 9pc 2,800 kilometres of Yangtze dredged to 4m downstream and 2.7m upstream Fujian-Taiwan direct cargo shipping volume up, but value down in January Rotterdam to ease port access with 550-metre channel widened by 240 metres Beihai port's January container throughput up 23pc Global economic survey shows recovery, but Asian results expected to lag CN sets US$1.76 billion capital budget in 2012 to maintain network Hijacked Panama-flagged ro-ro ship said to become pirates' mothership Landstar System posts 22pc hike in quarterly sales to US$717.5 million Singapore's CWT Globelink extends reach with new UK office opening Dachser Transport of America becomes Lufthansa Cargo's global partner Atlas Air quarterly profit off 24pc to US$41 million, overall sales up 8pc Ozar airport in India fails to attract air freight operators

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APM Terminals Inland Services conducts safety awareness workshop Siddharth Chakravarty: From merchant navy officer to conservation & environment crusader The industry pays its respects to a true stalwart Uniworld Logistics completes 10 successful years Govt likely to persist with 18.5 pc MAT on SEZs Oil Ministry wants tax exemption for payment to Iran PPP draft rules could draw investors : ADB Section of Commerce Ministry reportedly favours doing away with curbs on sugar exports Task force to be set up to promote exports: Spices Board Traders not enthused by cut in onion MEP to $ 125/t

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FEBRUARY 21, 2012
Calogi's express handling module to digitise courier business The Middle East air cargo portal Calogi has added a new paper-free module to its range of supply chain products to simplify the courier business. The new feature, rolled out in Dub... AMI Perth moves to new premises The Perth (Western Australia) division of AMI - one of the world's largest airfreight and express trade-only wholesalers - has relocated to new premises on Airport Park 1, adjacent... UASC with its own agency company in UK The United Arab Shipping Company (UASC) recently announced that, with effect from 1 January, its operations in the United Kingdom began running under a new company that is 100% who... Itella: higher revenues, but operating loss in 2011 The Finnish postal and logistics operator Itella Logistics has announced an operating loss of EUR 5.9 million in 2011, compared to an operating profit of EUR 32.4 million in 2010. ... Wilhelmsen Technical Solutions secures order in LNG sector Norway-based Wilhelmsen Technical Solutions (WTS) has received a landmark order to supply inert gas generator systems for five LNG carriers under construction in South Korea. The W... Alaska Air Group to get new CEO in May 2012 The Alaska Air Group recently announced that Bill Ayer, its chairman and chief executive officer, will retire as CEO of Air Group and its subsidiary carriers, Alaska Airlines and H... Golf pro George Coetzee unveiled as new GAC brand ambassador The South African professional golfer George Coetzee is the latest sportsman to join global shipping, logistics and marine services provider GAC's stable of brand ambassadors. Coet... Germany: trucks to pay road charges from August Trucks of 12 t and over will be obliged to pay a road charging fee of EUR 0.17 on Germany's motorways and trunk roads from 1 August this year. The country's government hopes this w... Fastest train scanner now in service in Rotterdam The world's fastest train scanner recently went into service at the port of Rotterdam (Netherlands). The Dutch Customs selects containers for scanning on the basis of a risk analys... MidCargo becomes CFL cargo Sverige CFL cargo SA and Svensk Tågkraft AB have joined forces to develop rail freight transport between Scandinavia and the rest of Europe through joint ownership of the Swedish rail frei... Kerry Logistics takes full control of operations in Spain Kerry Logistics, a leading global logistics services provider, has completed the acquisition of its former Spanish joint-venture, Kerry Salvat Logistics SA, through a buy-out of th... Kervan Tur and Balkanexpress agree to collaborate The Turkish logistics provider Kervantur Logistics, headquartered in Tuzla/Istanbul, and Balkanexpress, a Polish logistics company based in Czechowice-Dziedzice, have signed a coop... TNT Express receives unsolicited offer from UPS TNT Express (Netherlands)has received an unsolicited non-binding and conditional proposal from the US-based United Parcel Service (UPS) for the acquisition of the whole of the issu... IAG Cargo launch phone application IAG Cargo, the umbrella organisation of British Airways World Cargo and Iberia Cargo, has launched an innovative free iPhone and Android phone application (app), which allows custo...

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FEBRUARY 21, 2012
Huntington Ingalls appoints VP of customer relations for Ingalls Shipbuilding OSHA cites Jeffboat for nine safety violations Eastern Shipbuilding leases 20 acre site in Port St. Joe OSD wins design orders for ten Platform Supply Vessels Polish shipyard to build second wind farm installation jack-up Class NK issues guidelines for gas-fueled ships Damen Shipyards builds modular dock for Djibouti

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FEBRUARY 21, 2012
Homeland Security Department offering grant application kits Diana takes delivery of Panamax container ship Bill Ayer to retire as Alaska Air Group CEO Federal Maritime Commission collects $490,000 in civil penalties BNSF earmarks $3.9 billion for 2012 capital commitment program

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FEBRUARY 21, 2012
High LNG spot rates threaten benefits of arbitrage Shipping no longer a passive tool, says Vauthier Industry work patterns 'can no longer be justified', says Nautilus 'Foolish' owners and operators ignore study's findings at their peril, warns Graveson Asleep on watch: the facts Key preliminary findings of Project Horizon Time for shipping to face up to fatigue Breakthrough research shows extent of problem Battle fatigue grips container shipping Carriers have stopped chasing market share at all costs, but have they left it too late? Shippers praises carriers for adapting to true competition Lobby group says EU liner regime is effective Industry needs to share the ferry vision Balancing regulatory ideals with reality is a common cause not a combat mission The sound and the fury Enrica Lexie killings are a legal and political minefield Subletting of LNG carriers has softened charter rates High inventory levels in Japan also contribute to lower prices Shipping to push for government incentives on exhaust cleaning UK Chamber of Shipping organises first talks with scrubber makers and regulators to find solution to low sulphur rule impasse New Baltic Sea pipeline opens for business Brokers report Sovcomflot aframax will be the first ship to load from the BPS2 at Ust-Luga Indian police to search Enrica Lexie and seize weapons Diplomatic row continues as Italian foreign minister prepares to fly to India Courts are slow to imply terms into contracts A recent case serves as a useful reminder that the courts are slow to imply terms into contracts Clyde & Co's Asia push led by Nash move to Singapore Number of regional partners nearly doubles in a year Greece must look to shipping to haul itself out of the doldrums Seafarer nation can secure more jobs if only government will listen Shell demands more flexibility for LNG operations Oil major will expand chartered fleet Hutchison offshoot is given three months to improve productivity at Dar es Salaam Regulator asks for better box crane handling Hutchison Port Holdings Trust posts lower-than-forecast quarterly results Port giant misses full-year growth target for container throughput Market sees mini capesize boom Mid-size bulkers balance capacity with access to shallow Southeast Asia ports Suezmax sells at firm price after weeks on market Monte Granada had earlier been reported withdrawn Heavylift BBC launches liner service Fortnightly Asia-Europe schedule can offer inducement calls DSV forecasts 4%-5% growth in sea freight volumes for 2012 Volumes rose just 3% in 2011 NITC repays BNP Paribas and switches P&I cover Japan P&I and Chinese insurers ready to take up EU sanctions slack Golar revenues up in fourth quarter Annual results reflect improved vessel utilisation Southeast Asia to drive LNG demand for next decade Singapore a potential trading hub Panamax owners are subsidising operating costs on Atlantic voyages Brokers fear bulk carrier market is heading towards the negative earnings seen in the tanker sector last year as the fleet grows Seafarers lives must come first Thursday's conference on the future of Somalia must tackle the tragedy of hostage-taking Dongfang Shipbuilding and local government play down default fears Yueqing City says it will help the AIM-listed firm National Container Co restarts box handling at Illichivsk Agreement reached with Ukrainian state-owned port after three-year absence and lengthy legal battle The clue is in the name Many major ship financiers are keen to reduce exposure to shipping - even Deutsche Schiffsbank, whose name means German Ships Bank, wants to reduce its shipping portfolio

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FEBRUARY 21, 2012
Harren, JP Morgan share heavy lifting JP MORGAN Asset Management and German shipowner/manager Harren & Partner said today that they are planning a joint fleet of heavy-lift vessels Golar LNG bullish after strong 2011 TIGHT supply of shipping capacity and strong demand helped Golar LNG to report strong figures for both final quarter and full-year 2011 Yangzijiang unveils $206.2M in orders CHINESE shipbuilder Yangzijiang said it has won $206.2M worth of new orders since January 2012 OSG faces loan squeeze NYSE-LISTED shares of OSG could face headwinds today after its US Title XI funding setback HPH Trust outperforms its own forecast HPH Trust today exceeded its own forecast in its 2011 results and confirmed a dividend payout Changes seen for Indonesian LNG INDONESIA'S LNG exports under long-term contracts will gradually decline between 2012 and 2020, according to IHS World Markets Energy A big Capesize for free CLASSIC Maritime has paid nothing to hire a Capesize, with the ship's operator SwissMarine paying $10,000 per day of the charterer's fuel costs More small box ships seen being auctioned MORE SMALL box ships might go under the hammer soon, a brokerage has warned, as banks lose patience with struggling borrowers in today's weak charter market ACM rejects Platou offer ACM SHIPPING, the listed London shipbroker, has rejected a possible offer from Norwegian shipbroker and investment bank RS Platou ICAP Shipping buys Island ICAP SHIPPING, ICAP plc's shipping arm, said today it has acquired Singapore's Island Shipbrokers Charterers pounce on low box ship rates BOX SHIP chartering has picked up, but brokers told Fairplay today that charterers are merely seizing opportunities presented by low rates Bumi Armada seen as 'sweet spot' MALAYSIA'S FPSO specialist Bumi Armada plans to unveil record profits of 379M ringgit ($125.46M) when it posts 2011 results this week, CIMB Securities said today

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FEBRUARY 21, 2012
Diesel Prices Hit 11-Week High as Oil Prices Jump Diesel prices across the United States hit an 11-week high in the week ending Feb. 20, rising 1.7 cents as... Customs' Allen Says Funding Needed to Expand ACE Customs and Border Protection has $140 million to operate and maintain a commercial trade processing system, but there's no money... Expeditors Profit Falls 4 Percent on Weak Peak Season Expeditors International of Washington said a weak peak season for imports pulled fourth quarter profit down 4 percent year-over-year to... Italy-India Tensions Escalate Over Fishermen Killing A bitter diplomatic confrontation appears to be brewing between India and Italy over the arrest of two Italian armed ship... China to Expand Port Bordering North Korea China plans to spend $3 billion to build a three-pier terminal in a special economic zone bordering North Korea and... US Export Growth to China Will Outpace Imports, Report Says U.S. exports to China will rise at a faster rate than imports during the next five years, aided by an... Analyst Says New Vitran Chief Could Lead Recovery Canadian-based less-than-truckload carrier Vitran may be headed back toward profitability after naming a new president for its ailing U.S. operations.... Kerry Logistics Acquires Spanish Joint Venture Kerry Logistics said the acquisition of its former joint venture in Spain will allow customers in the country's poor performing... Diana Adds Eighth Container Ship, Plans to Buy Another Diana Containerships said it took delivery on Feb. 17 of the APL Sardonyx, a container ship with a capacity of... MSC Set to Grab Asia-Europe Business From Maersk, Report Says Mediterranean Shipping is set to significantly increase its share of Asia-Europe container traffic in 2012 at the expense of market... MSC to Raise Trans-Pacific Rates Mid-March Mediterranean Shipping announced it will increase all freight rates on its eastbound service from Asia to the U.S. and Canada... TNT Focuses on Europe Amid Rising Losses, UPS Takeover Bid TNT Express, the Dutch express delivery company in takeover negotiations with UPS, plans to refocus on its core European market,...

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FEBRUARY 21, 2012
Is China's economic rise a covert threat to the west? China's stunning growth from a poor stagnant country to the world's second-biggest economy in less than 30-years - and predicted to overtake the US by 2018 - is ... Xu quits Cosco In a note to the Shanghai Stock Exchange yesterday, Cosco Shipping Company - a unit of the state-owned China Ocean Shipping - announced the surprise resignation ... ISS sets up in Venezuela Inchcape Shipping Services (ISS), one of the world's leading providers of maritime services, has expanded its global network by opening its first office in Venezuela.The ... Non-lethal weapons are a deterrent to pirates NCC take back control of Illichivsk In accordance with Odessa's Regional Court of Appeal's ruling at the end of last year, NCC's Ukrainian subsidiary Ukrtranscontainer (UTC) resumed control of Illichivsk's ... Strike-affected Sokhna reopened The labour dispute that rocked the Egyptian Red Sea port of Sohkna recently and led to servere disruption and loss of cargo is over.This followed meetings over ... Ports of Auckland: management and dockers remain entrenched A week-long strike beginning Friday [February 24], back-to-back with another seven day stoppage from March 2, suggests that the increasingly bitter dispute between ... China: a 'reliable friend' to Ireland In something of a scoop for the Irish Republic, Vice-President [and heir apparent to the presidency] Xi Jinping, stopped off in Ireland on his way back from a week-long ... Greece gets its new bail-out After 13 hours of intense talks - finishing in the early hours of this morning - the 17 eurozone finance ministers have finally agreed the terms for the EUR130 ... Thailand's economy to bounce-back After the devastating flooding of last year which covered two-thirds of the country, took the lives of more than 800 people, and stymied manufacturing, it was no ...

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FEBRUARY 21, 2012
Danaos sheds the red New York-quoted containership owner's quarterly profit overshadowed by chief executive's grim market forecast. Cargill courts MR sisters Greek owner poised to pocket $36m as commodities giant ties up chemical carrier newbuildings for three years, brokers say. BBC campaign continues Turmoil in the heavylift market fails to derail German giant's expansion crusade as it unveils another freshly minted loop. Liquidity steals the spotlight Asset sales and equity exercises increasingly likely for Morten Arntzen-led owner following failed Title XI loan bid, analyst says. Greek newbuilds find a home Carras Hellas and Target Marine bag period deals with big-name charters for freshly arrived panamaxes. Storm halts tanker salvage Fuel pumping halted off Sakhalin as bad weather moves in around grounded Karakumneft. Freeze fires GMLP dividend Golar Partners' profit passes its parent's in Q4 as vessel dropdown spurs payout. STX Europe romps home Korean-owned shipbuilder produces impressive final charge to end the year on a high. Seypec "financially sound" Indian Ocean tanker owner says it will "forge on" despite racking up losses from tough markets. Hochtief back for more German owner orders another heavy-lift ship at Poland's Crist for wind-farm installation work. Yards running on half a tank Newbuilding orders reached only 50% of global capacity in 2011 despite prices dropping by a tenth, RS Platou says. PDZ still going strong Kuala Lumpur-listed owner continues profit drive as container volumes rise. ICAP buys Island Shipbrokers London broker back on the acquisition trail with deal to take over Singapore tanker and S&P specialist.

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FEBRUARY 21, 2012
ICS chairman calls for shipbuilding moratorium Expeditors' 4Q results reflect weak demand TCC wins key decision in MQC claims pursuit Improved productivity at APMT Callao terminal Maersk drops more West-Med hub calls MSC raising Black Sea/East Med export rates NY port hits record container volume in 2011 LaHood's son caught in Egyptian power struggle IBM buys Worklight for mobility strategy TNT reports $230 million 4Q loss

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FEBRUARY 21, 2012
Fujairah prices soften Durban market also softened slightly. Prices diverging at key European ports Quiet markets reported in Rotterdam and Hamburg. New IBIA Board members elected Chairman-elect welcomes new Board members during annual dinner. ClassNK releasing guidelines for gas fuelled ships Requirements for safe design in the guidelines are based on the current draft of the IMO's IGF Code. Australasia bunker demand growing Increase in commodity trade and further growth in cruise industry driving demand across Australia, New Zealand and the Pacific Islands, says O.W. Bunker. IFO prices weakening across major Asian hubs Demand mixed at major Asian bunkering hubs on Tuesday. 'No plans' for Japanese bunker barge newbuilds Banks reportedly not willing to finance barge owners amid diminishing bunker sales. Voyage charters to get new slow steaming clause Slow steaming clause for voyage charters 'more complex' than time charter version, says BIMCO. Cargo arrivals easing tight IFO supplies in Colombo Three major suppliers delivering replenishment stocks to Colombo this week. Rolls-Royce: LNG fuel becoming 'popular choice' for vessels LNG to become 'realistic choice' after development of bunkering infrastructure. South China faces 'severe' shortage of blendstocks Limited residue output from Guangdong refiners squeezing feedstock volumes. Shipping industry needs 'moratorium on new orders' ICS Chairman also urges shipyards to 'cooperate fully' with shipowners in design and construction of future vessels. Americas markets quiet as US celebrates holiday Markets flat as US celebrates Presidents Day.