INTERNATIONAL NEWS

Lost in the gloom - Hamburg searches for answers as its market share fades

Germany’s largest port is in turmoil. The global recession may be easing, but trade is moving to rivals and now there are fears that its woes could outlast the current downturn, reports ALEXANDER BAKST

Laid-up FPSOs at record high after year of contract drought

Demand has collapsed since fields stopped producing, reports Martyn Wingrove

Pick-up predicted with new projects

UP TO 170 offshore oil and gas projects involving floating production systems are in the planning phase, according to International Maritime Associates.

Asia-Europe trades signal worst may be over for boxes

FREIGHT rates in the Asia to Europe container trades are heading back towards 2008 levels as cargo volumes pick up after the worst slump ever experienced.

Dubai World considers asset sale

DEBT-laden conglomerate Dubai World – whose empire includes global ports operator DP World – may sell off assets to raise cash, according to a senior government official quoted by news agencies.

MOL to reduce exposure to containers

JAPANESE shipping conglomerate Mitsui OSK Lines (MOL) will focus more on owning tankers and gas carriers in reaction to this year’s slump in demand for containerships.

Aircargo volumes take off as box lines cut back

CAPACITY shortages in ocean freight and a stronger-than-expected rebound in US and European retail sales have helped drive a surge in aircargo volumes in the past three months.

Asia-Pacific airfreight numbers seen as a positive sign for ocean cargo

ASIA-PACIFIC airfreight is on the rise after recording 1.9% growth in October on the back of a 3.1% decline in September.

Australia set to become major gas exporter

AUSTRALIA will become the second largest liquefied natural gas exporting nation by 2020 as a host of new projects are built along the country’s west and east coasts. The country’s vast onshore and offshore gas resources will be recovered and exported to Asian markets from a multitude of production plants that will be built in Western Australia and Queensland.

US pushes back plan for 100% box screening

THE US Government has backed down on enforcing laws that require the scanning of all import containers from July 2012.

Maersk Alabama crew blame master for hijack

THE MAERSK boxship master taken hostage during a botched hijack attempt off Somalia in April has been accused of taking a shortcut through the area to save fuel.

German shipowners support calls for state aid to industry

THE GERMAN shipping industry needs government aid in order to survive the crisis, according to Hapag-Lloyd chief executive and head of the German shipowners’ association VDR, Michael Behrendt.

Speed cuts lift rates

SLOW steaming is starting to have a noticeable impact on the container trades, with capacity being absorbed and charter rates inching upwards as operators bring in extra ships to compensate for lower speeds

Climate deal could leave a US$10bn hole for shipping

THE SHIPPING industry could end up paying twice for a global climate change deal, thanks to the emergence of a new plan for a US$10bn annual levy on shipping emissions that has won the backing of African states.

Suez channel plan to ease pressure on Port Said

 

Cosco chief Wei casts doubt over 40% of newbuildings

CHINA Ocean Shipping (Group) president and chief executive Wei Jiafu forecasts that 40% of newbuildings on order will be cancelled or delayed.

China urged to join body Marcus Hand, Shanghai

INTERNATIONAL Chamber of Shipping (ICS) chairman Spyros Polemis has called on the China Shipowners’ Association (CSA) to join the chamber, as a greater voice from China was sought.

Chinese turnaround still in the pipeline

Exports of containerised merchandise from China remain well down on a year ago, dispelling any immediate hopes that the liner shipping industry could be on the mend. But the next few weeks may be more revealing, if past trading patterns for this time of the year are anything to go by.

Hamburg group sets out urgent rescue plan for German shipping

A WORKING group in Hamburg is drawing up a rescue plan for German ship financing and shipping, which will be presented to the Federal Government.

Retreat in Atlantic rates could bring out cargoes

RATES to hire panamax bulk carriers in the Atlantic market have retreated below US$40,000 per day for voyages to Asa after charterers held back cargoes from the spot market.