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Worldwide Container Shipping news - Archive 2008, October
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News was prepared under the information support of Online Daily Newspaper on Hellenic and international Shipping "Hellenic Shipping News". |
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31 Oct 2008
Barry Rogliano Salles Weekly Tanker No 596
The decision by Opec members to reduce production
by as much as 1.5m bbls/day has had no impact so far
on crude prices, proving that the global economic crisis
is really here… and probably for a while. VLC ... »
31 Oct 2008
WEEKLY MARKET REPORT 2008/Week 44
No real change in the market this week, all indices continued their slide and most spot charter rates achieved are
in levels below operatin ... »
31 Oct 2008
Defaults crimp commodities; no option but renegotiate
The spectre of commodity defaults looms large in Asia as buyers walk away from deals sealed before the price plunge, and analysts fear th ... »
31 Oct 2008
Russia: Freight Shipments May Fall 12% in November
Freight shipments will decline 10 percent to 12 percent in November because of the financial crisis as metals firms slash exports by up to 60 percent, the head of major freight operator Gl ... »
31 Oct 2008
BG shipping Egyptian LNG to US
BG Group's Bluesky liquefied natural gas tanker is due to deliver to the Lake Charles import terminal in the US on 12 November, according to AISLive ship tracking data.
The cargo is coming from Egypt and will be ... »
31 Oct 2008
Steel melts like ice in global meltdown
The global meltdown has hit the steel industry badly and the sector is reeling under pressure to cut prices due to lack of demand. The market crash has brought the con ... »
31 Oct 2008
Commodities Head for Worst Month in 52 Years as Economies Slow
Commodities headed for their worst month since at least 1956 on concern that a slump in global economic growth will sap demand for raw materials. The Reuters/Jef ... »
31 Oct 2008
Russian steel majors slash output,capex
Steel majors in Russia, the world's No. 4 producer, are slashing output and scaling back new investments as they conserve precious cash to refinance debt during a ... »
31 Oct 2008
From gold to lead
WHO wants to be a gazillionaire? Dotcom tycoons in the 1990s rose and fell over a period of years. The recent commodities boom, by contrast, made people fabulously wealthy in a matter of months. But their f ... »
31 Oct 2008
Steel sector dives deep into red
China's once profitable steel industry plunged further into the red in October due to a combination of shrinking demand, prices and exports resulting from the global financial crisis, China Iron and Steel Asso ... »
31 Oct 2008
Chinese iron ore producers expecting price decline
Iron ore miners in China have been told to expect the first price cut in seven years, with steel production in China plunging. At a conference in the Chinese city of Quingdao, trader ... »
31 Oct 2008
Fall in Chinese steel demand sees price of iron ore buckle
Chinese steel production has been dropping along with the steel price for weeks. But the situation in Tangshan, C ... »
31 Oct 2008
Indonesia's Adaro sees '09 coal output at 42 mln T
Indonesia's second largest coal producer, PT Adaro Indonesia Tbk, expects its coal output to rise by 10.5 percent next year to 42 million tonnes, its president director said on Friday. The compa ... »
31 Oct 2008
Lower commodity prices, higher production costs likely to lead to production shortfall
Southern African countries could be headed for a food crisis, given higher production costs, declining agricultural commodity prices and the possibility that the in ... »
31 Oct 2008
China Merchants and Citic Group sign up for Ningbo port investment
China Merchants Holdings (International) and Citic Group said yesterday they would jointly develop a new port in Daxie. The South China Morning Post reported analysts predicted a ... »
31 Oct 2008
Maersk ups Colombo presence
Maersk is looking to invest in a new container terminal in the planned new deep-draft port next to Colombo, a company official told local media. The construction work on the break ... »
31 Oct 2008
MOL to Launch Independent Asia-East Coast South America Service
Mitsui O.S.K. Lines, Ltd. yesterday announced a new independent service on the Asia-East Coast South America trade starting in January 2009. The current joint service with Pacific International Line (PIL) will be di ... »
31 Oct 2008
Hamburg investor looks to set up India-focused shipping fund
German shipping investment firm Konig and Cie GmbH and Co. KG is likely to establish a fund focused on India, where shipping lines need to invest some $20 billion ( ... »
31 Oct 2008
Pacific Basin sticks to investment plan
Hong Kong-based bulk shipping firm Pacific Basin Shipping will stick to its plans to buy new ships and have all financing ready for future capital commitments of more than $72 ... »
31 Oct 2008
"K" LINE Launches New Asia-East Coast South America Service
Kawasaki Kisen Kaisha, Ltd. ("K"LINE) is pleased to announce launching of a new service between Asia and East Coast South America in June 2009. The weekly service will be operated with ten Panamax ... »
31 Oct 2008
Petrobras Transpetro Unit Won't Delay 49-Tanker Plan
The transport unit of Petroleo Brasileiro SA will be able to maintain a 49-ship fleet expansion program because it has sufficient financing from a government fun ... »
31 Oct 2008
Samudera net up 38.7% in third quarter
Leading regional container shipping line, Samudera Shipping Line Ltd, (“Samudera” or the “Group”), reported its quarterly results ended 30 September 2008. Revenue for th ... »
31 Oct 2008
American Shipping Company’s Fifth Vessel Delivered, Q3 results
Our fifth vessel, the Overseas Texas City, was the latest in the twelve-ship series to be delivered on time. Upon its delivery on September 19, 2008, American Shipping Company AS ... »
31 Oct 2008
Lack of petchems trade causes 25% cut in shipping freight costs
A drop in trade in the global petrochemical markets has forced some deep-sea shipping route costs to be reduced by as much as 25%, an aromatics trader said Friday afternoon. The trader said: "There ... »
31 Oct 2008
EU targeting shipping's carbon emissions
A European Commission (EC) official says “all options will be on the table” if there is failure to agree to international action on shipping's CO2 emissions. Hans Meijer, Polic ... »
31 Oct 2008
Essar Shipping defers bulk carrier buy on poor market
Essar Shipping Ports & Logistics Ltd has deferred acquisition of three bulk carriers due to a slump in charter hire rates but was on track to deliver projects announced earlier, a top off ... »
31 Oct 2008
Q3 2008 - Strong increase in operating income for Wilh. Wilhelmsen
Total operating income for the first nine months totalled USD 2.6 billion as against USD 2 billion for the same period of 2007. Profit before taxes came to USD 121.8 million, compared with USD 190.8 mil ... »
31 Oct 2008
Glencore Says Has No Difficulties in Opening Letters of Credit
Glencore International AG, the world's biggest commodity-trading company, said it has had no problems in getting letters of credit, used to finance transactions. Some su ... »
31 Oct 2008
Falling freight rates to hit Thoresen Thai
Thoresen Thai Agencies (TTA), Thailand's biggest dry bulk carrier group, said yesterday that a sharp drop in freight rates in the wake of the global credit crunch will hit its results in the ... »
31 Oct 2008
Dry-Bulk Shipping Slips Underwater
With credit drying up, asset values falling and loan defaults surfacing, dry-bulk shippers now bear an eerie resemblance to the sub ... »
31 Oct 2008
Stainless steel producers brace for lean patch in first half of 2009
Stainless steel consumption in the UAE is expected to go through a downturn period in the first half of 2009, in light of the global financial crunch, industry experts say. "There is ... »
31 Oct 2008
China's steel output slows amid price fall in Jan.-Sept.
China's rolled steel output slowed in the first three quarters, while the price fell gradually after reaching the peak in early July, said a report publ ... »
31 Oct 2008
French port unions, employers sign reform accord
French unions and employers signed an agreement on Thursday opening the way for privatisation of seven ports, including the key oil hub of Fos Lavera, as part of a reform of French docksides. The agreement, re ... »
31 Oct 2008
Somali PM calls for tougher action against piracy
Somali Prime Minister Nur Hassan Hussein on Friday called for tougher action against the piracy off his country's coast that has choked commercial shipping. Although wars ... »
31 Oct 2008
Somali Pirates Seek $5 Mln for Seized Turkish Ship, Aksam Says
Somali pirates are demanding a ransom of $5 million for the return of a Turkish cargo ship and its 20 crew hijacked in the Gulf of Aden, Aksam reported without saying where it got the information. The pi ... »
31 Oct 2008
Belships ASA posts Q3 operating profit of USD7.46m
Norwegian shipping company Belships ASA issued its third quarter report, posting an operating profit of USD7.46m, as compared to USD2.72m in the third quarter of 2007. Operating revenues amounted to U ... »
31 Oct 2008
OSG America L.P. Reports Results for Third Quarter and Nine Month Period
., the largest operator of U.S. Flag product carriers and ocean-going barges transporting refined petroleum products, reported financial results for the three and nine month period ended September 30, 2008. For t ... »
31 Oct 2008
Canada ups safety standards on sailing ships
A Canadian investigation into the loss at sea of the daughter of the general manager of the Montreal Canadiens hockey team recommended new safety standards on sail training ves ... »
31 Oct 2008
First cargo of Philippine Galoc oil sold to Petron
Operators of the Philippines' Galoc oilfield, the country's first major oilfield since the 1990s, said on Thursday they had agreed to sell i ... »
31 Oct 2008
Arcadia Petroleum has purchased 2nd SOCAR oil shipment to sail away from Supsa
The Department of Marketing & Economic Operations has completed the tender procedure for export of this year’s second shipment (it is also the second shipment sinc ... »
31 Oct 2008
Hyundai Steel renegotiating scrap import deals
It is reported that South Korea's Hyundai Steel is renegotiating scrap import deals as prices of the recyclable metal have fallen so sharply on fears deepening global credit crisis may weaken steel deman ... »
31 Oct 2008
Valencia becomes Spanish container port No1
The Spanish Port of Valencia has overtaken Algeciras as the country's leading container port. Figures released for the first eight months of this year show that Algeciras handl ... »
31 Oct 2008
Australian solar technology to power Chinese shipping
Solar Sailor's technology consists of wing-shaped solar panels fitted to vessels. Australian-developed solar sail technology is set to drive Chinese shipping giant Cosco Group’s v ... »
31 Oct 2008
BVI intensifying its marketing as Category One shipping registry
The British Virgin Islands is taking positive steps to intensify its shipping registry. It is participating in the Fort Lauderdale Boat Show, whic ... »
31 Oct 2008
CMA CGM's Bangladesh operations license revoked
French liner giant CMA CGM has had to put its impending services for the Bangladesh market on hold following a decision by the National Board of Revenue (NBR) to revoke i ... »
31 Oct 2008
ClassNK releases Guidelines on
ClassNK releases Guidelines on the Application of YP47 Steel for Hull Structures of Large Container Carriers. On 30 October 2008 Nippon Kaiji Kyokai (ClassNK) released its new Guidelines on the Applicati ... »
30 Oct 2008
China cuts steel output on weak demand
Stung by the threat of recessionary conditions in the Western world and slowdown in industrial activity resulting in lack of demand within the country, China has begun to cut metals out ... »
30 Oct 2008
Steel price to move up in near future – CISA
According to Mr Qi Xiangdong, deputy secretary-general of CISA said recently at a logistic meeting held in Tianjin Steel price trend in fourth quarter hinges on demand, and more on market con ... »
30 Oct 2008
Heads up on currency plays and the impact of the dollar on commodities
After trading at multi year lows on Tuesday this week, the dollar ... »
30 Oct 2008
BHP chief says no reason to add cash to Rio offer
Top miner BHP Billiton's chief executive on Thursday ruled out adding a cash sweetener to its all-share $69 billion (41 billion pound) offer for rival R ... »
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