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Worldwide Container Shipping news - Archive 2008, November
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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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30 Nov 2008
Iron ore price negotiations - Freight collapse closes gap
Platts reported that Australian iron ore is in danger of losing its price competitiveness against Brazilian ore as the freight differential between the two origins has shrunk to less th ... »
30 Nov 2008
Input cost deflation not improving stainless steel demand
UK based MEPS said that “Orders on the stainless mills continue to fall despite massive production cuts. Suppliers of raw materials nickel, chromium, molybdenum and scrap have all reduc ... »
30 Nov 2008
Commodity Trends: High GDP growth raises hopes
The Commodity Futures market could not work in full swing last week on account of Mumbai terrorists attack. It was closed for a day and even when markets resumed ... »
30 Nov 2008
Extent of commodity prices collapse is the big unknown
The Australian government's biggest concern about the economy is that commodity prices will fall further and faster than expected. The run-up in commodity prices has been so dramatic over the last fiv ... »
30 Nov 2008
JFE of Japan plans to spend USD110 mln to build a 7 mln tpy iron ore pellet plant
Steel Corp, the world's third-largest steelmaker, said it planned to spend USD110 million to build a 7 million tonne-a-year iron ore pellet plant in Oman jointly with Bahrain's pellet maker Foulath. Shares in JFE ra ... »
30 Nov 2008
Vietnam expects November coal output Down 19.2% YoY
Dow Jones reported that Vietnam's coal production in November2008 is likely to fell 19.2% from the same month of 2007 to 3.185 million ... »
30 Nov 2008
Japanese scrap prices set to rise further
It is reported that the current price of H2 scrap between Japan and China is settled at USD 200 per tonne FOB and may go up in near further, but it’s doubtful that when it will stop increasin ... »
30 Nov 2008
US scrap metal market declines
It is reported that the piles of junk on the yard at EJ Knight Scrap Material Co are growing. And that’s not good news. Just ask Mark Kamensky, a third generatio ... »
30 Nov 2008
India: Major steel companies may cut prices in the spot market by 5-6 pct next month
Steel makers JSW, Ispat and Essar are likely to slash prices of steel in the spot market by 5-6% (Rs 2,000/tonne) next month. This will be the fourth successive price cut by the domestic steel c ... »
30 Nov 2008
Tough questions for BHP, Rio after bid collapses
QUESTION will emerge as to why it took BHP so long to pull the pin on a deal that became excruciatingly unpopular with investors, its major customers an ... »
30 Nov 2008
Chinese Ports not to lower handling costs despite dip in volumes
According to some major Chinese ports, though China's iron ore imports have decreased, for any single port, there is no momentum to cut handling cost since iron ore throughput still far su ... »
30 Nov 2008
Ship cargo volume slumping at West Coast ports
Cargo volume at West Coast ports, after years of being dominant in U.S. maritime trade, is slumping, clearly the result of the worsening global economic crisis but ... »
30 Nov 2008
Port of Gulfport keeps on rolling
The Port of Gulfport has big plans for expansion, but even at its current size and with a slumping economy, the port already has put itself in a position to be the benefactor of a future business boom. A shift ... »
30 Nov 2008
Legal Hurdles in West Slow Pursuit of Pirates
Somali pirates firing automatic weapons and rocket-propelled grenades hijacked yet another ship in the Gulf of Aden on Friday, this time seizing a chemical tanker. A German military helico ... »
30 Nov 2008
Saudi, French Leaders Call For International Efforts To Protect Shipping
French President Nicolas Sarkozy and Saudi King Abdullah on Saturday called for international efforts to protect shipping in the Gulf of Aden amid a spate of attacks by Soma ... »
30 Nov 2008
Suez toll cut likely to tide over economic slowdown
The Suez Canal might adjust its tolls for ships for 2009 in light of slower world economic growth and the international financial crisis, the chairman of the Suez Canal Authority said. Rev ... »
30 Nov 2008
International Trade in Potential Jeopardy: Shipping continues it's Downward Plunge
The Baltic Dry Index continues to lower as the demand for raw materials continues to drop to unseen levels. "Capesize Vessels" weigh from 175, ... »
30 Nov 2008
Baltic Dry index drops for 6th month
The Baltic Dry index, a measure of shipping costs for commodities, retreated for a sixth-consecutive month in November as slowing economic growth cut demand for commodities including iron ore and coal to ... »
29 Nov 2008
Qatar LNG Supplies to China Will Start September, Official Says
Qatar will start supplying liquefied natural gas to China in September under a 25-year contract, said an official with China National Offshore Oil Corp., the country’s third-biggest oil co ... »
29 Nov 2008
Qinhuangdao coal prices slide by 18% in a week
Coal prices at Qinhuangdao port, China's largest coal port, witnessed the sharpest fall in the year in the past week, with steam coal over 5,500 kilocalories dropping to 570 yuan per ton on Thursday, or 18 per ... »
29 Nov 2008
Chinese coal price may slump to early 2007 level
According to weekly index by global coal, in the end of last week, international coal price crumbles sharply to USD 85.69 per tonne, down USD 12 per tonne or 12.13% in a single week on consec ... »
29 Nov 2008
Brazil' Vale 'bending over backwards' to avoid retrenchments as a result of global economic slowdow
Brazilian mining, logistics and energy group Companhia Vale do Rio Doce (Vale) CEO Roger Agnelli has revealed that the company is bending over backwards – the phrase he used translates literally as ‘d ... »
29 Nov 2008
Cheap imports may hit India's steel market
China’s decision to cancel export duty on some 102 steel products could see it flood Indian markets with cheap priced steel items, the Indian steel industry feels. The industry is ... »
29 Nov 2008
Chinese domestic steelmakers turn to imported ore
It is reported that Chinese spot ore market is going to stability following recent uptrend of domestic steel market. China Industrial Economy News quote ... »
29 Nov 2008
Hyundai makes second steel price cut in 1 month
South Korea's Hyundai Steel said on Friday it would cut steel prices by 11 percent, its second price cut in a month, due to weakening demand from the construction sector and falling prices of raw materia ... »
29 Nov 2008
First call at Le Havre for CMA CGM VELA, 11 000 Teu containership
The CMA CGM Group is pleased to announce that the newly-built CMA CGM VELA, an 11 000 TEU capacity containership, will be calling Le Havre for the first time on November 26. The CMA CGM VELA was built in th ... »
29 Nov 2008
Shipping company Navibulgar cuts costs to stay afloat
Bulgaria's former state shipping company Navibulgar, put in private hands earlier this year, will trim its crew by 17 per cent in the face of the global economic turmoil, said Hristo Donev, one of the ... »
29 Nov 2008
Coming soon: a pay cut for Indian ship officers
It is nearing pay-cut time for officers operating ships as owners look at ways to trim operating expenses and stay profitable in a falling freight market. Many ship owners have internally started discuss ... »
29 Nov 2008
Wartsila's Senitec bilge water system received US Coast Guard Approval
Wartsila’s groundbreaking Senitec sludge and bilge water treatment system has received US Coast Guard (USCG) Type Approval. Tests have confirmed the system’s ability to r ... »
28 Nov 2008
WEEKLY MARKET REPORT 2008/Week 48
As the dry freight market continues its fall (not over a cliff - since this has already happened), with the BDI
losing 14.5% week to week, ... »
28 Nov 2008
Gibson Tanker Report Where next for the single hull VLCC?
It is increasingly difficult to say positive things about any market at the moment. In the UK this
week the press has focused on the government’s attempt to get the public spending ... »
28 Nov 2008
Barry Rogliano Salles Weekly Tanker No 600
A semi-active week, with the USA celebrating their
‘thanksgiving day’. After weeks of stability at the
‘conference’ rate of WS70 for voyages to the Middle
East Gulf, owners of double hull ... »
28 Nov 2008
China, India Cut West African Crude Imports as Demand Declines
Asian refiners cut West African crude oil imports for loading in December by as much as 27 percent after buyers led by China Petroleum & Chemical Corp. lowered purchases because of falling demand for ... »
28 Nov 2008
US crude imports fall by 1.877 mil b/d in September: EIA
US crude imports plunged by 1.877 million b/d in September to hit their lowest monthly import level since February 2000, as hurricanes Gustav and Ike disrupted Gulf Coast refining operations and im ... »
28 Nov 2008
Iron ore price negotiations - Freight collapse bridges Brazilian gap
Mr Peter Malpas, Asia market research manager for shipbroker Braemar Seascope, while speaking at Metal Bulletin's Australian Iron Ore conference in Perth, said that Australian iron ore is in danger of losin ... »
28 Nov 2008
RBCT sees no slowdown in coal exports
The world’s largest single coal terminal, the Richards Bay Coal Terminal (RBCT), had not seen a decrease in volumes exported, despite the global economic downturn. Although the price of coal might ... »
28 Nov 2008
Chinese steel melts on global slowdown
The dwindling material costs and government's economic stimulus package might not work wonders for the nation's flagging steel industry as the demand for the metal has sh ... »
28 Nov 2008
ThyssenKrupp in fiscal year 2007/2008
ThyssenKrupp again achieved excellent results in fiscal 2007/2008. Executive Board Chairman Dr. Ekkehard Schulz: “They validate our strategy of further focusing the Group in its conglomer ... »
28 Nov 2008
Commodities Near Bottom on Consumer Rebound: Chart of the Day
Commodity prices that plunged from records since the end of June may be “near a bottom” as a return of consumer confidence signals a rebound, said Dale Durchh ... »
28 Nov 2008
Meltdown turning commodities upside down
In sharp contrast to a few months ago, when buyers were stepping over each other to get their hands on limited supplies of steel, aluminium, copper and other industrial staples, the global fi ... »
28 Nov 2008
India Iron Ore Miners Forced To Revise Export Contracts-Exec
Indian miners have been forced to revise iron ore export contracts for at least one million metric tons, as prices have collapsed off the highs hit earl ... »
28 Nov 2008
West Coast ports face struggle to maintain relevance
The slowdown in international trade has left the docks at the nation's biggest seaport complex quieter than they've been in years. Some workers, particularly non-union " ... »
28 Nov 2008
Frontline announces third quarter 2008 results
The Board of Frontline Ltd. announces net income of $107.8 million for the third quarter of 2008, equivalent to earnings per share of $1.39. Operating income for the quarter was $ ... »
28 Nov 2008
Drewry: Annual Reefer Shipping Market Review and Forecast 2009
Reefer shipping continues to evolve. Initially it was largely a pure port-to-port “tramp” operation but it has subsequently developed into a far more complicate ... »
28 Nov 2008
Indonesia warns of pirate attacks in Malacca Straits
Pirate attacks in the Malacca Straits could rise as the global economic meltdown unfolds, Indonesia has warned. ''We predict that with the global crisis, there will be more pirates a ... »
28 Nov 2008
Independent Tankers Corporation posts third quarter results
The Board of Independent Tankers Corporation Limited announces net income of $2.9 million, equivalent to earnings per share of $0.04 for the third quarter of 2008. This compares with net income of $3.6 ... »
28 Nov 2008
Somali pirates hijack 1 ship, free another
Somali pirates seized control of a chemical tanker in the Gulf of Aden on Friday and a NATO helicopter gunship, too late to prevent the hijacking, picked up three secu ... »
28 Nov 2008
More tankers going the long way around
Seaarland and Motia has announced that all their owned and managed ships will proceed via the Cape of Good Hope instead of transiting the Gulf of Aden until the piracy situation in area ... »
28 Nov 2008
Shipping industry runs into troubled waters
The financial crisis of the last few months and the ensuing economic downturn are putting enormous strains on the once booming ocean shipping industry. Benefiting from the past se ... »
28 Nov 2008
Dry bulk rates to rise as China restocks iron ore
Dry bulk rates are likely to recover when China replenishes its dwindling iron-ore inventory and demand for thermal coal starts to pick up. “Al ... »
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