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Worldwide Container Shipping news - Archive 2008, September
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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 Sep 2008
Are Commodities in the grip of complete meltdown?
A tumultuous night during which the Nikkei average dropped 483 points, was followed by some signs that a modicum of stability may be returning to global markets. Japanese ... »
30 Sep 2008
$50 billion drop in commodities ‘long-only’ funds
Investments betting that commodity futures prices will move higher have drastically diminished over the past two months due to the global credit crisis, according to data released. The amount ... »
30 Sep 2008
Why investors are taking shelter in precious metals
Markets have received a new life via additional liquidity poured by central banks worldwide in recent past. European Central Bank, Bank of England, United States` Federal Reserve and other major ... »
30 Sep 2008
Coal-rich Chinese province to boost safety by reducing number of coal mines
The coal-rich Shanxi Province in north China will reduce its number of coal mines in the next two years as a way to improve mining safety, the provincial government said. Currently, Shanxi has 2,840 c ... »
30 Sep 2008
Fortescue upbeat about China's growth
China's massive steel industry is expected to rebound next year as a feverish pace of construction returns, Fortescue Metals Group Ltd executive director Graeme Rowley says. There is no doubt China has "put ... »
30 Sep 2008
EU gets tough on export restraints
The European Union (EU) will threaten to file more trade complaints and overhaul free-trade deals to fight export duties on raw materials such as wood and textiles by governments, including that of China. Export ... »
30 Sep 2008
ArcelorMittal to cut SA steel prices again in November
South Africa's largest steel producer ArcelorMittal South Africa has notified its customers that there will be another, even larger, price cut on both long and flat st ... »
30 Sep 2008
Vietnam: Steel export tax should be slashed further
Vietnam News Agency reported that just a few days after the ministry of finance decided to slash the ingot steel export tax from 20% to 10%, Vietnam Steel Association has proposed the ingot steel export ta ... »
30 Sep 2008
Crisis Reaches Steel Prices
Prices for metal products in the United States have been falling sharply since the beginning of autumn due to lack of demand in the construction sector and automaking. A similar tendency can be noted on the ... »
30 Sep 2008
Coal May Lose a Fifth of its Value This Month on Market Turmoil
European coal headed to a more than 20 percent drop for September on a credit squeeze in financial markets that saw banks such as Lehman Brothers Holdings Inc. fail and left U.S. lawmakers grappling w ... »
30 Sep 2008
China's slowdown in economy takes toll on global prices of commodities
Indian iron ore exporters yesterday warned that demand from steel mills in China had fallen sharply over the past month and that Chinese buyers were defaulting on cont ... »
30 Sep 2008
China boom falters as steel softens
THE head of China's leading steel company says the Chinese economy and steel industry are both "heading for a downward slide", as hopes fade that China can insulate Austral ... »
30 Sep 2008
Australia Newcastle coal exports down 10 per cent
Coal exports from Australia's Newcastle port fell 10 per cent from the previous week, port data showed, with waiting time and ship queues also down slightly. Exports at the port, the ... »
30 Sep 2008
China buyers seek discount to lift ore
Chinese buyers of Indian iron ore are defaulting on import contracts and refusing to lift the ore unless the seller offers a discount on contracted prices, President of the Federation of Indian Mineral Ind ... »
30 Sep 2008
Shuttlewise starts Ruhrshuttle
As from October 1, the new intermodal Railoperator Shuttlewise will start a new connection between Rotterdam (Rail Service Center in the Eemhaven area) and Herne (nort ... »
30 Sep 2008
Precious fixes more ships long term
THAI-based handysize bulker and tweendecker operator Precious Shipping says that more of its ships have been fixed to commence longer term employment contracts. The co ... »
30 Sep 2008
d’Amico International Shipping S.A. signed a new $95 million loan facility
d’Amico International Shipping S.A., an international marine transportation company, operating in the product tanker market, announces yesterday that its operati ... »
30 Sep 2008
‘Shipping growth leads to shortage of seafarers’
The Managing Director, Genesis Worldwide Shipping, Capt. Emmanuel Ihenacho, has said that increase in the number of world shipping fleet has contributed ... »
30 Sep 2008
Hamburg consortium trumps NOL's offer for Hapag-Lloyd
A group of Hamburg-based investors has offered more for TUI's Hapag-Lloyd container shipping unit than Neptune Orient Lines (NOL), the Financial Times Deutschland reported, without saying where it obtained ... »
30 Sep 2008
Crunch time
The shock wave that hit financial markets this month reverberated across the transportation world, crumbling the optimism in many quarters that the shipping business was taking halting steps toward ... »
30 Sep 2008
Exxon to invite bids for supply of PNG LNG tankers
Exxon Mobil Corp, operator of a planned US$11 billion liquefied natural gas project in Papua New Guinea, said it will invite shipyards and vessel owners to take part in a te ... »
30 Sep 2008
Global shipper group calls for elimination of antitrust immunity
Organizations representing shippers in North America, Europe and Asia have called for a further reduction in ability of ocean carriers to co ... »
30 Sep 2008
International trade may be headed for a new era
With the collapse of the World Trade Organization’s Doha Development Round of trade negotiations in July, we may be headed to a more protectionist fu ... »
30 Sep 2008
Persian Gulf Tanker Rates May Stem Drop as Owners Await Cargoes
The cost of shipping Middle East crude to Asia, down for the first day in seven yesterday, may stem further declines as owners anticipate Chinese refineries will accelerate their demand for vess ... »
30 Sep 2008
Analyst sees shipping rebound this year, as temporary factors lift, credit crisis spreads
One analyst suggests that the spreading credit crisis and the lifting of some temporary factors will allow drybulk shipping demand to rebound by the end of this year. Shipping ... »
30 Sep 2008
Jumping ship
Yet more reason to panic? The Baltic Dry index, which measures dry bulk shipping costs, plunged by nearly a quarter last week - 10 per cent on Friday alone - as rates plumme ... »
30 Sep 2008
BMTI Investors’ Market Spotlight - Week 39
It has been a brutal few days for owners' prospects as the widening world financial crisis stokes the flames of already crash-burning spot rates. The Atlantic continues to portend stormier weather for the immedia ... »
30 Sep 2008
August cargo rises at Georgia ports
Georgia’s ports increased the amount of cargo handled by 4.4 percent in August, the Georgia Ports Authority said Monday. GPA ports handled more than 2.2 milli ... »
30 Sep 2008
92 ships waiting to discharge cargoes at Lagos ports
Ninety-two ships are awaiting customs clearance to berth at the Lagos ports and jetties to discharge various cargoes. According to Shipping position of the Nigerian Ports Authority released on Monday in Lag ... »
30 Sep 2008
Continued growth at Jotun
Jotun Group's positive development continues. Positioning in area with high level of growth yields results. Nevertheless, the group is prepared for future setbacks in the market. Jotun Group's positi ... »
30 Sep 2008
Pirates in Somalia threaten lives of seafarers and the security of world trade
The international shipping industry (represented by BIMCO, ICS/ISF, INTERCARGO and INTERTANKO and the International Transport Workers’ Federation) is dismayed by recent c ... »
30 Sep 2008
China, Vale And The BDI
There's an interesting story playing out between China and Brazil. It's about iron and steel and ships, and it could have a bigger imp ... »
30 Sep 2008
Lloyd's Register collaborates with UAE international maritime academy
Lloyd's Register EMEA has recently signed a memorandum of understanding (MoU) with Emirates International Maritime Academy (EIMA) to collaborate in providing maritime training programmes in addition to orga ... »
30 Sep 2008
US crisis not to hit Indian commodities sector: FMC
Will the financial tumoil in the United States that has hit investment banks badly affect the commodities sector in India? Not really, says India's apex commodities marke ... »
30 Sep 2008
Hyundai Steel signs 2 more coal deals for new BF
Platts reported that Hyundai Steel has signed a deal to purchase 1.5 million tonnes of pulverized coal from Australian miner Macarthur Coal over the next 5 years to secur ... »
30 Sep 2008
Cargo throughput at Marseilles-Fos up to 64.27m tonnes in Jan-Aug 2008
Cargo throughput at Marseilles-Fos totalled 64.27m tonnes to the end of August, a 1% drop on the first eight months last year. Strong performances in the oil and liquid bulk sectors could not of ... »
30 Sep 2008
China's Dalian port sees sharp rise in auto imports, Jan-July
The latest statistics released by Dalian Customs in northeast China's Liaoning province show that Dalian Port imported 9,072 vehicles valued at US$400 million in the first seve ... »
30 Sep 2008
Bureau Veritas Is Seeking Acquisitions in U.S., Japan
Veritas SA, the world's second-largest goods-inspection company, is seeking acquisitions in the U.S. and Japan as the economic slowdown may force riv ... »
30 Sep 2008
Transport firms and customers breathe easy as oil prices fall
Shipping companies, airlines and transport operators breathed a collective sigh of relief when the price of oil fell to $100 a barrel after almost touching $150 a few months ago. ... »
29 Sep 2008
Barry Rogliano Salles Weekly Dry Bulk Market 603
There were sweeping declines in the dry
bulk indices this week, with the BDI
losing almost a quarter of its value. The
BDI is now at its lowest level for two
years. Optimism for the fourth-quarter
has also disa ... »
29 Sep 2008
China buyers default on India iron ore deals –trade
Chinese buyers of Indian iron ore are defaulting on import contracts and refusing to lift the ore unless the seller offers a discount on contracted prices, a top industry official told Reuters on Monday. &q ... »
29 Sep 2008
Newcastle Coal at 6-Month Low on Concern Chinese Demand Slowing
Power-station coal prices at Australia's Newcastle port, a benchmark for Asia, fell to near their lowest in six months on concern Chinese demand is slowing. The weekly index for powe ... »
29 Sep 2008
Alcoa moves to build a sustainable future in China
Wider application of aluminum will further enhance energy efficiency and contribute to sustainable city development and construction, an executive of global integrated aluminum maker Alcoa said. ... »
29 Sep 2008
China slowdown could affect resource profits
Resources analysts expect China to use the global credit crisis as an excuse to pay less for Australia's iron ore and coal. Australia's most lucrative export market, China, is facing slackening demand fr ... »
29 Sep 2008
Traders expect China steel price to rally in Oct
Following sharp declines over the fast few months, most traders expect steel prices in China to rally in October when domestic steelworks cut production. The latest round of sharp steel price fall in ... »
29 Sep 2008
EU to act against raw material exports curbs
The European Union will take measures against countries that have placed a raft of export duties on raw materials, the bloc's trade chief would say on Monday, warning of the dangers of "resource nationalism& ... »
29 Sep 2008
Base metals, steel outlook becoming negative as growth and demand weaken
S&P says the credit outlook for Europe’s mining and steel sectors is becoming negative, as demand weakens, and economic development in emerging markets slows. Standa ... »
29 Sep 2008
Japan's Steel Demand to Decline as Economy Cools, Ministry Says
Crude-steel demand in Japan, Asia's largest economy, will probably drop for the first time in 12 quarters in the final three months of the year as ri ... »
29 Sep 2008
Indian iron ore miners willing to supply to China to overcome Vale crisis
PTI reported that Indian mining industry has assured adequate supply of iron ore to Chinese steel mills, which are reported to have boycotted the raw material’s supply from Brazilian mining major ... »
29 Sep 2008
Coal Prices Set to Go Up
Globally, coal prices are witnessing a significant spike, thanks to the growing steel demand and supply constraints. Coal, which is one of the major raw ma ... »
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