Worldwide Container Shipping news - Archive 2008, February

News was prepared under the information
support of Online Daily Newspaper
on Hellenic and international
Shipping "Hellenic Shipping News".

US container security: feasible or fantasy?

Former US Senator Warren Rudman's recent concerns over port security should not be taken lightly given his history as co-chair of a bi-partisan committee assigned to investigate the threat of international terrorism after the September 11 attacks and ... »

29 Feb 2008

Maersk spends $950,000 on lobbying

Danish shipping company A.P. Moller-Maersk A/S spent more than $950,000 in 2007 to lobby the federal government. The company spent more than $331,000 to lobby on port safety, railroad regulations and ballast water legislation in the second half of 20 ... »

29 Feb 2008

India Cements buys bulk cargo carrier from Essar Shipping

India Cements Ltd said on Thursday it has acquired a second bulk cargo carrier with a capacity of 38,002 dead weight tonne from Essar Shipping Ltd for an undisclosed sum. ... »

29 Feb 2008

Swedish shipowner Transatlantic reports operating result of EUR 30.1 million in 2007

A record high operating result of SEK 281 million (EUR 30.1 million) is highlighted when the Swedish and Skärhamn-based shipowning/ship operating company Transatlantic closes its books for 2007. All divisions show positive results, led by offshore wi ... »

29 Feb 2008

FRO - Share incentive program 2008

The Board of Frontline Ltd. ("Frontline" or the "Company") has approved a grant of 760,000 share options to the Board of Directors, senior management and other employees in the Company under the terms of the existing Share Option Scheme. These option ... »

29 Feb 2008

Teekay Corporation Reports Fourth Quarter and Annual Results

Highlights- Reported fourth quarter net income of $9.5 million, or $0.13 per share (including specific items which decreased net income by $13.5 million, or $0.18 per share) (1)- Reported annual net income of $181.3 million, or $2.43 per share (inclu ... »

29 Feb 2008

North Sea Sullom Voe Oil Terminal Resumes Normal Operations

The North Sea Sullom Voe terminal in Scotland's Shetland Islands, which handles shipments of benchmark Brent crude oil, resumed normal operations after high winds that halted berthing eased.The terminal resumed normal operations at 9 p.m. yesterday, ... »

29 Feb 2008

Contract for construction of Maasvlakte 2 signed

The Port of Rotterdam Authority, Koninklijke Boskalis Westminster NV and Van Oord NV today signed the contract for the construction of the first section of Maasvlakte 2. The contract involves in excess of € 1 billion. ''We have taken another big step ... »

29 Feb 2008

DP World invests Dh121m in Adelaide Port expansion

Global terminal operator DP World is investing Dh121 million (A$35 million) in the expansion of the quay and other facilities in Adelaide Port, where it operates a container terminal, according to a top official."We have recorded 28 per cent growth i ... »

29 Feb 2008

Court rejects California limits on ship emissions

A federal appeals court Wednesday rejected a state regulation that reduced emissions from ships, dealing a blow to California's attempt to combat one of the major sources of smog-forming pollution in the Los Angeles region. The ruling means that the ... »

29 Feb 2008

Piraeus Port Authority to seek court injunction against dockworkers on strike

The management of the port authority of Piraeus (OLP) is looking to put an end to the continuing work abruptions and strikes in the port's daily operation, by filing for an injunction. The aim of this move is to proclaim the dockworkers' protests as ... »

29 Feb 2008

Iron ore rivals fight for $1.5b Oakajee port tender

The Western Australian (WA) Government has given Midwest and Murchison Metals nine weeks to submit tenders to build a port at Oakajee. WA Planning and Infrastructure Minister, Alannah MacTiernan, said an announcement of the successful tenderer by mid ... »

29 Feb 2008

Hainan's Yangpu port boosts container throughput 30pc in 2007

Hainan's provincial Port of Yangpu lifted 110,000 TEU last year, up 30 per cent compared to the year before. The port's overall cargo tonnage increased to 23 million tonnes, more than double 2006's volume, Xinhua reported. Yangpu port's new shipping ... »

29 Feb 2008

MSC to offer Central America service from mid-March

Mediterranean Shipping Company (USA) is starting a weekly direct service from Port Everglades, Florida to Puerto Santo Tomas De Castilla, Puerto Cortes and Puerto Limon in Central America, effective mid-March utilising two MSC vessels."This new servi ... »

29 Feb 2008

German Shipowning Company F. Laeisz - Five Stars for Excellent Quality

German shipowning company F. Laeisz, with offices in Hamburg, Rostock and Bremerhaven, has received the ''GL Excellence – 5 Star'' certificate of Germanischer Lloyd. It is awarded for the introduction of high and up-to-date safety, environment protec ... »

29 Feb 2008

Lonrho recruits top Safmarine official to expand port, shipping unit

Aim-listed Lonrho Lonrho Plc yesterday announced that it has recruited a senior executive, Peter Albeck, as General Manager of Lonrho's Port and Shipping Division. Peter Albeck joins the Company from Safmarine, where he was Chief Commercial Off ... »

29 Feb 2008

Overseas Shipholding Group Enters FSO Market

Overseas Shipholding Group, Inc., a market leader in providing energy transportation services, yesterday announced that Maersk Oil Qatar AS has awarded two contracts to provide Floating Storage and Offloading ('FSO') services on the Al Shaheen field ... »

29 Feb 2008

CMB announces purchase of MINERAL MONACO

Bocimar and its joint venture partner Drylog have exercised their option to purchase the Mineral Monaco (2005 - 180,263 dwt) currently on long-term charter from Imabari (Japan). The change of ownership is scheduled to take place in the course of ... »

29 Feb 2008

Euronav enters FSO market

The executive committee of Euronav NV is pleased to announce that Maersk Oil Qatar AS has awarded two contracts for the provision of Floating Storage and Offloading ('FSO') services on the Al Shaheen field off shore Qatar. The award has been made in ... »

29 Feb 2008

Hoegh LNG and CB&I Lummus conclude strategic partnership for LNG FPSO

Hoegh LNG and CB&I Lummus yesterday announced that they have concluded a strategic and exclusive agreement for the next phase of Hoegh LNG's FPSO project (Floating Production Storage and Offloading). The agreement formally ties the parties for a ... »

29 Feb 2008

EU-China Maritime Agreement to come into force on March 1

China and the EU have announced that a maritime agreement aimed at improving cargo transport operations and cooperation between the two sides will come into force on March 1. The EU-China Maritime Agreement, initially signed in 2002, aims to develop ... »

29 Feb 2008

Turkish court suspends Izmir port tender

A top Turkish court has suspended a privatisation tender for Izmir port, won by a consortium of Hong Kong's Hutchison and Global Investment Holding, the union involved in the case said on Thursday. Metin Bayyar, lawyer for the Liman-Is union which ha ... »

29 Feb 2008

Turkish Salvage Tycoon in War-Torn Iraq Says U.N. Owes Him Millions

Kahraman Sadikoglu remembers the day in May 2003 when a U.N. agency asked him to move forward with a business deal that would make the world a better place - and help him earn a tidy profit. "I was very proud to be working for the U.N., because ... »

29 Feb 2008

UK MCA braced for strikes

Coastguards and surveyors working for the UK's Maritime and Coastguard Agency are set to go on strike over pay during the next week or so. The two union representing most of the MCA's employees have secured large majorities in ballots for strike acti ... »

29 Feb 2008

Euroseas Ltd. Reports Results for the Fourth Quarter and Year Ended December 31, 2007

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today its results for the fourth quarter and year ended December 31, 2007.Fourth qu ... »

29 Feb 2008

Seaspan CEO says credit crunch will fuel deals

The global financial crisis should provide plenty of acquisition opportunities for Seaspan Corp, the container shipping company, as small operators run into financial difficulties, its top executive said."There will be some casualties as a result of ... »

29 Feb 2008

German group bids $340 mln for Bulgarian Navibulgar

German-led consortium KG Maritime Shipping offered 440.1 million levs ($339.8 million) for a 70 percent stake in Bulgaria's state maritime operator Navibulgar, the privatisation agency said on Thursday. The tie-up, led by Germany's Martrade Shipping ... »

29 Feb 2008

Persian Gulf Tanker Rates May Extend Gain on Double-Hull Dearth

The cost of shipping Middle East crude to Asia, the world's busiest route for supertankers, may climb for a fifth day as the supply of ships that oil companies prefer to hire declines. There are 35 very large crude carriers, or VLCCs, fitted with dou ... »

28 Feb 2008

Tianjin: Cargo charges changed

Tianjin Port Group has announced a change to charges for certain cargo categories. The main change is for the lump sum charge for loading/discharging coal export for domestic trade, details of which are: 1) The lump sum load fee for coal vessels with ... »

28 Feb 2008

Senate body concerned over delay in making Gwadar Port operational

The Senate Standing Committee on Ports and Shipping on Monday expressed concern over the delay in making Gwadar Port fully operational and directed the ministry to gear up efforts in this regard.The committee, which met here with Gulshan Saeed in the ... »

28 Feb 2008

Overseas Shipholding 4Q Profit Sinks

Overseas Shipholding Group Inc., which owns and operates crude oil tankers, said Tuesday its fourth-quarter earnings sank 81 percent, dragged down by higher fuel costs and weakened vessel rates. The company earned $21 million, or 67 cents per share, ... »

28 Feb 2008

Emirates Shipping posts 30% growth

With global cargo volumes projected to surge this year coupled with an increasing global ship fleet, shipping companies foresee a problem of terminal congestion at the world's ports. The problem stems from the fact only a few terminals have rolled ou ... »

28 Feb 2008

Oil-Tanker Rates to Rise as Dry Bulk Drops, TMT's Su Forecasts

The cost of shipping oil will surge while freight rates for hauling coal, iron ore and grains slump, said Nobu Su, the chief executive officer of Taiwan Maritime Transportation Co. Ltd. A dispute between Exxon Mobil Corp., the world's biggest oil com ... »

28 Feb 2008

KPA planning new master plan for port expansion

Kenya Ports Authority (KPA) has asked a consultant to draw up a new master plan after the initial one was found to be inconsistent with the port' expansion projections, Shipping News has reliably learnt. Haskoning Nederland BV from Netherlands in ass ... »

28 Feb 2008

Oslo Marine Group to open Zasnits - Vyborg line and to start container handling at Onega terminal by summer 2008

Oslo Marine Group to open Zasnits - Vyborg line and to start container handling at Onega terminal within 2-3 months, the Group's President Vitali Archangelski told according to RBC. According to Mr. Archangelski, cargo will be delivered from Ham ... »

28 Feb 2008

Container Corp of India plans to develop 8 new container depots

State-run Container Corp of India Ltd plans to develop eight container depots while other operators will develop 40 in the coming years, Railway Minister Lalu Prasad Yadav said. "Presently 60 container depots are operational including three construct ... »

28 Feb 2008

CSCL launches Jiaxing-Guangzhou domestic service

CSCL, container business unit of China Shipping Group has launched a new domestic trade service between Zhejiang's Jiaxing port and Guangzhou port, Logistics Week reported. CSCL deployed two 10,000 tonne container vessels named Xiang Fei and Xiang Te ... »

28 Feb 2008

Transneft to start construction of Kozmino port and ESPO second phase in March 2008

Transneft will start construction of Kozmino port (end point of East Siberian-Pacific Ocean pipeline) in March 2008. According to Gudok.Ru referring to Interfax, it was announced Wednesday in Vladivostok by Transneft President Nikolai Tokarev at a pr ... »

28 Feb 2008

Smit turns down take-over bid

Smit Internationale has rejected a joint bid by Saudi Arabia's Rezayat group and Dutch dredging giant Koninklijke Boskalis Westminster NV for its global oil and gas terminal services division. Boskalis and Rezayat had offered $300 million for Smit Te ... »

28 Feb 2008

GE Shipping contracts to sell two MR product tankers

The Great Eastern Shipping Co Ltd. (G E Shipping) has contracted to sell two of its double hull Medium Range (MR) product tankers 'Jag Panna' (37,145 dwt) & ‘Jag Payal’ (37,159 dwt). The vessels will be delivered to the buyers during Q1 FY 2010. ... »

28 Feb 2008

French port union warns of possible strike in March

France's port and dock union, part of the CGT federation, on Wednesday said it would call a 48-hour strike unless the public port authorities agreed to start negotiations soon. "We ask for a meeting to start negotiations during the week of March 3-7, ... »

28 Feb 2008

Jinhui beats Q4 forecasts on record charter rates, warns of rising volatility

Jinhui Shipping posted fourth quarter pretax profits ahead of expectations on the back of record charter rates for its vessels, and said that while it expects the dry bulk market to remain strong, there is likely to be increased volatility on the bac ... »

28 Feb 2008

Global warming opens new sea lanes for shippers

Norilsk, the world's biggest producer of nickel, is building its own shipping fleet to capitalise on the melting of the polar ice caps. The company ordered five reinforced cargo vessels that can plough through the waters north of Siberia as new sea r ... »

28 Feb 2008

Attica Group acquires the minorities of Blue Star Maritime S.A.

In a decision more or less expected, the two shipping ventures of M.I.G. (Marfin Investment Group), which were acquired just a few months ago, are about to merge into one unified RO/RO and passenger shipping company, with presence both in the local, ... »

28 Feb 2008

Intercargo in vetting deal

Dry bulk carrier owners' body Intercargo and RightShip have agreed that vessels entered with Intercargo will be awarded bonus points in RightShip's online Ship Vetting Information System. This agreement, which potentially lifts the rating of Intercar ... »

28 Feb 2008

Eagle Bulk Shipping Inc. Reports Fourth Quarter and Fiscal Year 2007 Results

Eagle Bulk Shipping Inc. today announced its results for the fourth quarter and fiscal year ended December 31, 2007.Financial highlights included:For the Fourth Quarter: -- Net Income of $16.3 million or $0.35 per share (based on a &n ... »

28 Feb 2008

Dry Bulk Shipper Anomaly in Spot Pricing Creates Buy Opportunity

Right now an anomaly exists in dry bulk shipping. The rates for chartering vessels for 1 to 2 year periods are far greater than the spot rate. Usually it's the other way around. For instance, you can get $157,000 - 167,000 a day to rent out a Cape si ... »

28 Feb 2008

General Maritime Corporation Announces Fourth Quarter and Full Year 2007 Financial Results

General Maritime Corporation today reported its financial results for the three months and full year ended December 31, 2007.Financial Review: 2007 Fourth QuarterExcluding the $4.4 million of other expense, the Company recorded net income of $9.6 mil ... »

28 Feb 2008

Sanyo Hellas Holding to acquire new dry bulk carrier

Investment company Sanyo Hellas Holding has agreed to acquire a new dry bulk carrier, the M.V. "Matira", a 1994-built handymax of 45,863-dwt, which will be renamed to "Stavros P." The transaction is worth $46.5 million and will be completed by the co ... »

27 Feb 2008

Freight futures surge as funds seek refuge

Freight derivative volumes have soared this year as banks and hedge funds have turned to a market that has not been affected by the credit crunch or economic slowdown. Freight forward contracts, which allow shipowners and operators to lock in pr ... »

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