NEMS Warehousing

Shipping

Golden Ocean says dry bulk will gain from yard failings

JOHN Fredriksen’s Golden Ocean has expressed a growing belief that the inefficiency of new shipyards will be a key factor in supporting dry bulk freight rates.

Dry bulk market set to hit new high

SIZZLING dry bulk market is poised to reach new records yet again on Monday.

Evergreen threatens to exit UK flag

CHAIRMAN Dr Chang warns of switch to Singapore register if UK tonnage tax rules change.

Zoullas says 40% of Asian yard deliveries at risk

AT least 100 ship orders already cancelled in dry bulk market, says Eagle Bulk chief.

Asbestos ship Otapan heads for Turkish scrapyard

DUTCH government agrees a deal with the Turkish owner on outstanding payments relating to berthing, harbour dues and insurance costs.

BG returns to Samsung for dual-fuel LNG vessels

BG Group has ordered a brace of 170,000 cu m dual-fuel diesel electric LNG carriers.

B+H eyes more tanker to bulker conversions

B&H OCEAN Carriers has signalled an intention to buy single-hull tankers and convert them into bulk carriers.

Lloyd's insurers put brave face on tough market

CONDITIONS "challenging" but companies bullish about 2008 as they report mixed trading updates.

Trico Marine swoops for DeepOcean

MOVE to buy 51.5% stake will accelerate Trico's move into the booming subsea construction market.

Floods hit Mombasa box operations

SHIPMENTS of containers into and out of Uganda via the hub port of Mombasa face weeks of disruption, after last weekend’s heavy flooding damaged a railway bridge near the town of Jinja on Lake Victoria.

Nordic American offering raises $173m

PROCEEDS from follow-on will be used to pay debt connected with $180m suezmax fleet expansion.

Trailer Bridge plunges to loss in first quarter

JONES Act liner company swings to $1.8m net loss, hit by costs associated with a new service and higher fuel.

SBM close to winning FPSO deals

SBM Offshore is expecting to receive four contracts to supply oil production ships to projects in Angola, Australia and Brazil soon to boost its order backlog to more than $10bn.

Rate swap and repairs hit FreeSeas profit

PIRAEUS-based dry bulk operator FreeSeas saw profit fall in the first quarter despite a jump in operating revenue.

DP World looking at Thai port project

THAI officials say DP World is interested to develop the $80m Pak Bara port in southern Thailand.

Guangzhou Shipyard wins order for ro-ro quartet

ORDER for ro-ro passenger vessels placed by China Shipping Passenger Liner and its joint venture.

US exporters caught in box shortage

RAPID shift in trade leaves some US states without enough containers.

Thoresen Thai profit surges on dry bulk boom

COMPANY upbeat for 2008, but has concerns about newbuildings joining its fleet in 2009.

Maersk makes Pacific progress

MAERSK Line achieved some freight rate increases and a good acceptance of its new bunker surcharge formula during annual eastbound transpacific contract renewals, which were completed earlier this month, writes Janet Porter.

Cosco reveals global ambitions

COSCO Pacific, the ports arm of China?s largest shipping conglomerate, is exploring investment in terminals along the US west coast and in Europe to take advantage of tight capacity there, a senior executive said, reports Reuters.

worldnews

Quake death toll may soar

French port authority workers strike

PORT authority workers at Le Havre joined their colleagues at other leading French ports yesterday in the latest of a series of one-day national strikes, writes Andrew Spurrier in Paris.

what?shappeningwhere

FRIDAY, MAY 16

Clubs shuffle the board pack as losses mount up

FORMER BP Shipping executive Nigel Palmer is to replace Sir David Thomson as boardroom head at Britannia, as another high-profile marine mutual chairman, Tullio Biggi of V.Ships, retires from the UK P&I Club, writes Jerry Frank.

Port ConditionsIndia

Following received from Indian Ports Association May 12 2008

Positive signs once again for transatlantic tanker market

THE April and May rate surge for product tanker owners serving the US looks back on track, following a slight falter last week, writes Jerry Frank.

Teekay buys multi-gas newbuilding duo

TEEKAY Corp is buying two versatile gas carrier newbuildings from Norway?s IM Skaugen in a deal worth about $94m, writes Tony Gray.

News in brief

Tui values Hapag-Lloyd

EU to stage inaugural European Maritime Day

EUROPEAN Union dignitaries and industry heads will descend on Brussels and Strasbourg next week for its first ?maritime day?, writes Justin Stares in Brussels.

Japan owners in cost plea to carriers

JAPANESE shipowners are hurting. Hurting so much that traditional shipping structures in the country, held up for generations, may eventually break down, writes Mike Grinter.

Vanderperre and Clipper union ?ends in divorce?

CHARLES Vanderperre has regained full control of Univan Ship Management after Clipper Group pulled out of its joint ownership of the Hong Kong shipmanagement company earlier this month.

Market briefs

Two loops on Far East route

Vucinic to boost BMT

Maersk Line stuck in the red

MAERSK Line stayed in the red during the first quarter of 2008 as the cost of restructuring the business continued to weigh on the bottom line.

Supramax shortage keeps Atlantic prices at record high

CHARTERERS took a welcome breather in the Atlantic supramax market yesterday while they waited for the arrival next week of fresh tonnage, writes Jamie Dale.

On the move? Contact val.kearney@informa.com

Berlusconi risk for seafarers

From Jon Whitlow,

Movers & Shakers

Cheng keeps faith in single hulls despite Hebei Spirit fallout

SINGLE-hull tankers will remain an integral part of Vanship?s new tanker company, according to incoming chief executive Fred Cheng.

Piraeus?s problems are worse than it admits

From James W Dempster,

Three enter race to run Thessaloniki operations

THREE groups have tendered bids to Thessaloniki Port Authority, operator of Greece?s second-largest harbour, to run container operations at the port.

Diana Shipping tips ongoing rates boom

NEW York-listed Diana Shipping has forecast rampant demand for coal and iron ore and China?s rapidly-growing coastal trade will keep bulk carrier rates near their record highs in 2008.

Argentina trade paralysis threat

GRAIN and oilseed shipments from Argentina?s River Plate face further paralysis, writes Michelle Wiese Bockmann.

A digital aid for handling a Paris rendezvous

LIFE in the marketing department of the Global Indemnity certainly has its variety. Shortly before the weekend, I am tapped by our leader Jaques Portmonie to take myself off to the Paris office to attend the Strategy Week, a global get-together of all the company?s movers and shakers.

Baltic freight reporter David Bradley dies

BALTIC Exchange senior freight reporter, David Bradley, died on Tuesday night aged 56.

NYK prepares for regulatory and industry upheaval

JAPAN?S NYK Line is preparing for a seismic overhaul of container shipping regulations later this year by re-organising its European region, while drawing up contingency plans in anticipation of a second upheaval that may or may not happen.

Owners to blame for crew crisis

SHIPPING must wake up to the fact that it is having to compete for resources, particularly when it comes to seafarers, a Philippinnes-based manning and training executive has warned.

Solvang and Neu Gas Shipping in LPG venture

A NEW partnership which is set to become the leading operator of large liquefied petroleum gas (LPG) carriers has been formed by Norway?s Solvang and Neu Gas Shipping, which is associated with Richard Neu?s General Ore.

Shipping must shape up to meet fuel rules

THE shipping industry cannot afford to be complacent and must become more fuel efficient and reduce emissions to meet tougher regulations.

Enforcement issues cloud future of IMO recycling convention

THE International Maritime Organization Convention for the Safe and Environmentally Sound Recycling of Ships faces continued debate, as the industry prepares for the convention?s formal adoption, which is due to take place one year from today.

Making a meal of football

MARE Forum’s annual Italian conference always seems to bring luck to the local football teams.

From airports to the Dome, Rogers? flights of fancy take off

RICHARD Rogers has ascended to one of the twin peaks of British architecture, matched only by former partner Norman Foster for the achievement, not just of being a first-rate architect, but for realising a succession of innovative structures that people actually like.

?Father of the captains? wins lifetime achievement

ALTAY Altug, a legend in Turkish and international maritime circles, was last night honoured for lifetime achievement at the Lloyd?s List Turkish Shipping Awards in Istanbul, when more than 500 people gathered at the Ciragan Palace Kempinski hotel to pay tribute to him and a host of winners.

Inland revenue

EUROPE's inland box terminals look set for investment by global lines seeking to relieve bottlenecks at key ports.

On the beach

IT IS depressing to learn that there has been little progress made in the marine litter situation in the UK.

Rare and remarkable: a feast of fine specimens

THE age of exploration remains a fertile terrain for re-examination ? and the curators of the Royal Collection have a rich resource on which to draw.

A cruise back in time with Fred. Olsen

FRED. Olsen has always prided itself on creating a family atmosphere on its ships, and although the newest addition to the fleet is bigger than its previous tonnage, there seems no reason why the cruise line should not continue to deliver on its stated aim of ?sociable, congenial cruises?, according to Anthony Cooke.

Treasured memories of ship?s master Capt Jones

JOHN Treasure Jones died in May 1993, just short of his 88th birthday. Some 25 years earlier he had retired as a Cunard passengership master.