INTERNATIONAL NEWS

Cautious approach pays off

STOCKHOLM-based NYKCool has been relatively cautious in recent times as far as tonnage acquisition is concerned and the company seems likely to continue with its ‘wait and see’ strategy for a while longer.

Box rivals force rates issue

Downturn has been exacerbated by a shortage of squid cargoes from the Falklands and the South Atlantic, writes Clive Woodbridge

Hamburg Süd takes solace from reefer operations as dry bulk sector is hit hard

AS WITH all container carriers, Germany’s Hamburg Süd is facing difficult challenges in all market segments at the present time.

Investment pays for CMA CGM

FRENCH carrier CMA CGM has strengthened its position as one of the world’s leading reefer container operators, following a program of investment in new equipment that was undertaken in 2007/08.

Hapag-Lloyd to vote on state aid

THE SUPERVISORY board of Hapag-Lloyd was to decide this week whether to apply for government aid for the ailing container line.

Maersk pulls plug on struggling yard

ODENSE Steel Shipyard will cease all shipbuilding activity when its current orderbook of 14 vessels is completed.

Foreclosures ‘set to rise’

BANKS are expected to foreclose on more shipping industry loans towards the end of the year as breaches of loan covenants become ubiquitous across the industry.

Hanjin dips to second quarter loss

DOWNWARD pressure on freight rates in transpacific trade, on which Hanjin is highly reliant, was the main contributing factor in the company’s net loss of Won399.2bn (US$325m) in the second quarter.

Car market has bottomed out –Wilhelmsen

THE CAR carrier market has bottomed out, according to one shipowner. The message from the first-half and second-quarter results from Norwegian owner Wilh.

Loss is first for decade

OOIL reported a US$231m loss in the first six months of the year as container liftings fell 17.2% and revenue per container slumped 24.1%.

K Line presses on with newbuilding projects

JAPANESE operator K Line is taking delivery of seven car carrier newbuildings this year, the majority of which have already entered service.

Höegh turning to emerging markets

A KEY aim of the Norwegian vehicle carrier operator Höegh Autoliners is to target emerging markets with growth potential.

Yards in steel backdown

 

Chase for Indian exports

 

LNG freight sector may be over worst

OVERCAPACITY and low freight rates will lead to independent shipowners abandoning liquefied natural gas shipping, hindering the further development of the spot and short-term market, a leading energy research and consultancy firm warns.

Smit scotches Boskalis bid talk as profits rise

SMIT has confirmed it has not received a further approach from former suitor Royal Boskalis Westminster, as it reported a solid first-half result.

Hidden agendas lurk behind Navfor anti-piracy operation

DID you know the European Union is not actually in charge of the protection of merchant vessels sailing through the Gulf of Aden?

Seaspan refuses help

CONTAINERSHIP owner Seaspan is refusing to bow to pressure from either Hapag- Lloyd or CSAV to renegotiate charter contract terms, instead telling it has told its customers to meet their obligations rather than expect to be bailed out by others.

Containership market cheered as small tonnage begins to rally

A CONTAINERSHIP market devoid of any positive news for the past year is taking heart from some recent fixtures that suggest the worst could be over for small tonnage.

Number of idle boxships edges higher

AFTER several weeks of inactivity, the 11,400 teu CMA CGM Libra appears to be on the move and about to enter service for the first time since she was delivered to the French line earlier this year.