Worldwide Container Shipping news - Archive 2007, October

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

CMA CGM plans to upgrade Vasco Express

CMA CGM, world's third largest and France's number one container line, proposes to upgrade its Vasco Express service between South America's east coast and the Persian Gulf, also linking India. The upgraded service will be effective from November 6, ... »

31 Oct 2007

Most Mexican crude exports halted by bad weather

The bulk of Mexico's crude oil exports were suspended on Monday as stormy weather in the Gulf of Mexico closed major oil ports along the southern Gulf coast and shut down a fifth of the country's oil production.Mexico's three main oil ports: Dos Boca ... »

31 Oct 2007

Maersk spent $620,000 lobbying

Danish shipping company A.P. Moller-Maersk spent nearly $620,000 to lobby the federal government in the first half of 2007, according to a disclosure form.The company lobbied Congress on regulations affecting foreign investment in the U.S. and issues ... »

31 Oct 2007

Navios Maritime Holdings Inc. Announces Confirmed Agreements to Acquire Three Capesize Vessels for $298 Million

Navios Maritime Holdings Inc., a large, global, vertically integrated seaborne shipping company, announced that it has agreed to purchase five new Capesize vessels. Three of the Capesize vessels are (i) a Japanese-built vessel (180,000 dwt) with a pu ... »

31 Oct 2007

Hull & Machinery insurance market on a crossroad

Despite the shipping industry's boom during the recent years, some parts of the market seem to be underperforming, especially in the services sector, like the Hull & Machinery insurance market. As was highlighted in the International Union of Mar ... »

31 Oct 2007

Agents call for Dar port improvement

Shipping agents have written to the Ministry of Infrastructure Development, seeking a quick solution to container clogging at the Dar es Salaam port. They allege that not much had changed despite a directive from the Prime Minister Edward Lowassa som ... »

31 Oct 2007

Deadly Tropical Storm Noel hammers Cuba

Tropical Storm Noel weakened Tuesday over most of Cuba after lashing the island's northern coast, but heavy rains continued to deluge the Dominican Republic and Haiti and portions of the Bahamas, forecasters said. art.flood.dr.afp.gi.jpg Residents fr ... »

31 Oct 2007

OOCL upgrades KTX-1 intra-Asia service capacity

Hong Kong's Orient Overseas Container Line Limited (OOCL) has expanded the capacity of its KTX-1 service which connects Chinese mainland, Taiwan and Japan to Singapore, Xinhua News Agency reported.OOCL deployed another 4,578-TEU vessel to replace the ... »

31 Oct 2007

Tuticorin Port traffic volume up

The Tuticorin Port has seen a rise in traffic volume after it announced changes through ''Trade Notice'' to handle deep draught vessels at anchorage beyond the permissible draught of 10.7 metres.Mr A. Subbiah, Deputy Chairman, Tuticorin Port Trust, i ... »

31 Oct 2007

Asian Terminals gets 25-year extension

Listed Asian Terminals Inc (ATI) has been granted a 25-year extension to its contract to manage and operate the state-owned South Harbour terminal in Manila. ATI, controlled by Dubai's DP World, has been operating the terminal since 1989 when it was ... »

31 Oct 2007

DP World sues Adani Group

DP World is suing the Adani Group for not allowing it to operate the second container terminal at Gujarat state's port of Mundra.The Adani Group manages and owns a stake in Mundra which is India's largest privately owned and operated port. The legal ... »

31 Oct 2007

Arctic icebergs to remain a threat to shipping for some time, experts warn

As the extent of the Arctic sea ice continues to diminish, freeing up sea routes such as the Northwest Passage, increasing numbers of ships are heading north to explore these polar waters. However, the International Ice Charting Working Group has war ... »

31 Oct 2007

Chemoil Europe BV and FTS/HOFFTRANS join forces to expand market presence in the ARA region

SGX Mainboard-listed Chemoil, one of the world’s leading physical suppliers of marine fuel products, has acquired 49% of existing shares in Burando Holding BV, a leading provider of maritime logistics services in the Antwerp-Rotterdam-Amsterdam (ARA) ... »

31 Oct 2007

Panama Canal's record-breaking year

The Panama Canal Authority says transits have past the 300 million ton mark while time spent going through the Canal has reduced.The Panama Canal Authority (ACP) announced its operational metrics for the 2007 fiscal year, showing a drop in Canal Wate ... »

31 Oct 2007

Two new cargo ports to be built in Sochi by 2009

By 2009, it is planned to build two cargo ports in Sochi. The project valued at RUR 3 billion is to raise marine cargo inflow to Sochi by 300%. The ports are to handle 11 million tonnes per year, which is 600 wagons per day, Dp.Ru informs. As of toda ... »

31 Oct 2007

Asia-US cargo growth slows while costs continue to rise, warns TSA

Asia-US container cargo growth slowed in 2006, growing at 9.6 per cent to nearly 6.5 million FEU from 5.9 million FEU in 2005 while a wide range of costs continued to rise, said a communique from the Transpacific Stablization Agreement (TSA). ''Stron ... »

31 Oct 2007

DNV Denmark expanding together with the Danish maritime industry

The Danish maritime industry is currently facing major expansion. As a class society, DNV has taken this growth into account by further expanding and extending its services for this industry.DNV not only acts as an independent class provider and comp ... »

31 Oct 2007

Euroseas Ltd. Announces Follow-On Offering of Common Stock

Euroseas Ltd., an owner and operator of drybulk and container carrier vessels and provider of seaborne transportation for drybulk and containerized cargoes, announced today that it is commencing a public offering of 5,000,000 shares of its common sto ... »

31 Oct 2007

FreeSeas Inc. Announces Close of Common Stock Offering

FreeSeas Inc., a provider of seaborne transportation for drybulk cargoes, announced the closing of the sale of 11,000,000 shares of common stock in a public offering at $8.25 per share. Total net proceeds from the stock offering after deducting under ... »

31 Oct 2007

China mulls opening up domestic feeder market to foreign lines

China may allow foreign lines to feed cargo between Chinese ports in what would be a significant policy change, according to a senior port executive.Chen Xuyuan, president of Shanghai International Port, said China's ministry of communications was se ... »

31 Oct 2007

Navios Maritime reports surge in third quarter profits

Navios Maritime Holdings Inc., a leading vertically integrated global shipping company specializing in the dry-bulk shipping industry, today reported its financial results for the quarter ended September 30, 2007.Ms. Angeliki Frangou, Chairman and CE ... »

31 Oct 2007

Asian Product Tanker Rate Falls on Dearth of Long-Haul Voyages

Asian long-range oil-product tanker rates fell to the lowest in almost nine months on a dearth of long-haul shipments, leaving more ships searching for cargoes. The rate to hire a ship that can carry 55,000 metric tons of oil products, a so-called lo ... »

31 Oct 2007

Tsakos Energy Navigation Announces Three-Year Employment with a Major Oil Company for Suezmax Tankers Antarctic and Eurochampion 2004

Tsakos Energy Navigation Ltd. announced three-year time- charters to a major European oil company for the 2007-built 1A ice-class suezmax tanker Antarctic and the 2005-built 1C ice-class suezmax tanker Eurochampion 2004. The charters are structured w ... »

30 Oct 2007

Persian Gulf Tanker Rates May Curb Drop as Owners Conserve Fuel

The cost of shipping Middle East crude to Asia, the world's busiest market for supertankers, may curb four days of declines as record fuel costs spurs owners to slow their ships to save money. Marine fuel oil, the biggest cost for shipowners, climbed ... »

30 Oct 2007

China, ASEAN seek to promote port cooperation

Transportation ministers from the Association of Southeast Asian Nations (ASEAN) and China pledged to work together for closer port cooperation at a forum here on Sunday. The two-day China-ASEAN Port Development and Cooperation Forum, themed "st ... »

30 Oct 2007

Gwadar port to be operational by next month

ISLAMABAD - Pakistan's third major port - Gwadar Deep Sea Port - will be fully operational by next month after which the second phase of its construction will be undertaken by the Singapore Port Authority (SPA), says a concerned official. "Hopefully ... »

30 Oct 2007

Shipowners respond to emissions challenge

Shipowners are testing and adopting new technologies and other procedures to reduce emissions from shipping, the Marine Fuel Sustainability forum heard. ''Emissions reductions have been a success,'' T.L. Garrett from the PMSA told delegates.Garrett c ... »

30 Oct 2007

83rd Session of IMO's Maritime Safety Committee

The attached MSC 83 Update provides in-depth information on regulatory developments agreed during the 83rd Session of IMO's Maritime Safety Committee that was held on 3-12 October 2007. Significant developments covered include new recommen ... »

30 Oct 2007

GOGL - Acquisition of 8 Kamsarmax Newbuilding Contracts

Golden Ocean Group Limited ("Golden Ocean" or "the Company") is pleased to advise that the Company has acquired eight newbuilding contracts at Zhoushan Jinhaiwan Shipyard (Jinhaiwan) in China. The vessels of 80.000 dwt will be delivered quarterly fro ... »

30 Oct 2007

MMM aims to become integrated shipping firm

MALAYSIAN Merchant Marine Bhd (MMM), which will have a new major shareholder Core Attributes (M) Sdn Bhd, has unveiled plans to become a fully integrated shipping company by 2010. Newly appointed non-executive director Datuk Ramesh Rajaratnam said it ... »

30 Oct 2007

Marg Constructions, Malaysian co tie up for Karaikal port

Marg Constructions Ltd and Pembinaan Redzai Sdn Bhd, Malaysia, are to promote a joint venture company to manage the Karaikal Port being set up by Karaikal Port Pvt Ltd (KPPL), a wholly owned subsidiary of Marg Constructions.Mr G.R.K. Reddy, Chairman ... »

30 Oct 2007

ELAA to be liner trade association

THE European Liner Affairs Association (ELAA) Executive Director, Chris Bourne, announced that the body is to become the new liner industry association operating under Brussels' anticartel guidelines when the conference system is outlawed in Europe i ... »

30 Oct 2007

Largest private-run deep-sea port to open

In a bid to meet rapidly increasing shipping trade with China, Kerry Siam Seaport announced it will open Thailand's largest privately-run deep-sea port at Laem Chabang by January 2008. The port is 14.5 metres deep with four conventional terminals and ... »

30 Oct 2007

Senator Lines to join new China North Express (CNX) service

Senator Lines says it will join the new China North Express CNX service that Hanjin Shipping and UASC has recently launched.The Bremen-based container shipping line said in a statement that its participation in the CNX service would strengthen its po ... »

30 Oct 2007

Port Rashid sees end for container handling

A major part of Dubai's Port Rashid may be closed late next year primarily due to an inability to handle modern mega-sized container ships, said local reports.Industry players believe that Port Rashid, the 'lifeline' of Dubai's foreign trade before J ... »

30 Oct 2007

China, Asean Ports Handle US$100 BLN of Goods Last Year

Ports and shipping have become the important vessel for the friendly cooperation between China and the Association of Southeast Asian Nations (ASEAN), said Chinese Transportation Minister Li Shenglin.''Last year alone, US$100 billion of goods in the ... »

30 Oct 2007

CMHI set to build multi-purpose port in western Shenzhen

Leading mainland port operator China Merchants Holdings (International), which has been increasing investment in large bulk cargo terminals, said it will develop a multi-purpose port at Ma Wan port zone in western Shenzhen. The company said the first ... »

30 Oct 2007

Buoyant bulk trade lifts local shipping majors

With global transportation of grain, iron ore and coal increasing by the day, dry-bulk freight market is on fire. Indian shipping companies have reaped huge benefits during the last quarter, as the Baltic Dry Index (BDI) continued its northward journ ... »

30 Oct 2007

Dubai Drydocks in $1.6b bid for Singapore's Labroy

Dubai Drydocks World offered on Monday to buy Singapore's Labroy Marine for $1.63 billion as interest in rig-building assets heats up amid record oil prices. Dubai Drydock's cash offer per Labroy share works out to about 15 times the company's 2008 e ... »

30 Oct 2007

TS Line launches second China-Persian Gulf service

TS Line has announced it would launch its second China-Persian Gulf service (CME) to commence from mid-November. The company will deploy five ships in the 1,300- to 1,700-TEU range on the new service in the early stages and later replace them with fi ... »

30 Oct 2007

APM Terminals arrives in Ecuador

Maersk port operating arm APM Terminals BV. has announced a 51% acquisition of Alinport SA, a new container terminal project in Posorja, Ecuador. The stake in the greenfield development, 120 kilometres (km) south of Guayaquil, was acquired from the S ... »

30 Oct 2007

Hong Kong to curb emission from China vessels

Growing concerns about shipping pollution has led to a new registration system for Guangdong ships visiting Hong Kong waters, reports said. The new system would spot polluting ships from Guangdong entering Hong Kong. Nearly 1,200 vessels coming ... »

30 Oct 2007

Alliances shift Asia strings from US to Europe routes

With the US economy in the doldrums because of the housing slump and retail demand for Asian cargo slumping, lines are suspending some transpacific services and adding more strings to the Asia-Europe route.The Grand Alliance lines - NYK, OOCL, H ... »

30 Oct 2007

Asian Aframax Tanker Rates May Decline on Lack of Cargoes

Asian aframax rates may fall from a five-week high because of a lack of demand for tankers that move 80,000 metric tons of oil. ''Charterers have been actively working on their November shipments both from the Persian Gulf and Indonesia'' last week, ... »

30 Oct 2007

Two major Russian shipping ports to go on strike

Dockworkers at two of Russia's largest ports, Tuapse and St Petersburg, will go on strike in November if their demand for higher pay is not accepted, the ports' and trade union officials said on Monday. The results of the negotiations between the wor ... »

30 Oct 2007

Coal Freight Rates May Extend Gains After Index Breaks 11,000

Iron ore and coal freight rates may extend gains from a record on increased demand for panamax, the second-largest type of ships that move dry goods in bulk. The Baltic Dry Index, a measure of commodity-shipping costs on different routes and shi ... »

30 Oct 2007

GO Carriers dismisses newspaper claims

An article appeared in TradeWinds on 19 October concerning the Chief Executive Officer of Global Oceanic Carriers Ltd, Michael Tartsinis. Reference was made to a matter which concerned a private misunderstanding between Mr. Tartsinis and a former bus ... »

30 Oct 2007

Pool claims highest for 15 years

The increase in P&I claims across the shipping industry has made - and continues to make - heavy demands on the International Group of P&I Clubs' Pool.Pool claims on the 2006/7 policy year which ended on February 20th are expected to be the w ... »

29 Oct 2007

India's 2007 iron ore exports may fall 15 pct

India's iron ore exports could fall by 15 percent this year due to handling problems in two key ports, an industry official said, adding to a squeeze on world supplies that has propelled spot prices to record highs.Snags with loading equipment in Mor ... »

29 Oct 2007

L&T plans two mega ports for Rs 3,500 cr

The engineering and manufacturing giant Larsen and Toubro (L&T) will build two mega integrated and commercial ports in the country with an investment of almost Rs 3,500 crore. ''The first port is likely to come up on the West cost and the second ... »

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