INTERNATIONAL NEWS

Shipping, logistics in green box seat

Innovation to the fore as industry seeks to improve its credentials in huge swathe of technical areas, writes Keith Wallis

How class societies are seeing the light

LEADING classification societies have been proactive in developing green innovations in a holistic drawing board-to-scrap-yard approach.

Agility will put down footprint

AGILITY Logistics has embraced green innovations throughout its operations worldwide in an effort to improve its environmental credentials and lower costs in the supply chain.

FedEx delivering hefty emissions cuts with hybrids

THERE has been growing interest among the public and logistics companies in the use of hybrid vehicles to reduce emissions and cut oil consumption.

K+N in gloomy outlook as rate rises predicted to fail

GLOBAL freight forwarder Kuehne+Nagel predicts that container lines on the Asia to Europe trade will achieve no more than 50% of their recently proposed box rate increase.

NOL reports further box rate declines

HOPES that freight rates for containerised cargo had stabilised appear to have been dashed after Neptune Orient Lines disclosed another considerable lurch downwards.

Fears growing for crew

FEARS are growing for the mental health of four seafarers from hijacked German boxship Hansa Stavanger, who have been detained by pirates deep within Somali territory for several weeks while being subjected to death threats and other ill treatment.

TT Club backing Rotterdam Rules

TRANSPORT insurer the TT Club has waded into the 11th-hour row over ratification of the Rotterdam Rules, lending its support to the global liability regime.

Earnings tumble in big suezmax slump

SUEZMAX owners have seen the price to ship West African crude to the US drop to a record low of W37.5, or around US$1,500 per day.

Tanker rates warning

TANKER rates will not improve until 2010, according to General Maritime chief financial officer Jeff Pribor.

MOL to slash costs

MITSUI OSK Lines announced last week that it would slash costs further than originally targeted.

Rival derivatives screen plan

THE LONDON Metal Exchange (LME) last week confirmed “exploratory discussions” were under way with major freight derivatives traders to establish a central screen for the US$155bn market.

Cosco cancels bulker orders to own yards

CHINA Ocean Shipping Group companies have axed close to US$300m worth of bulk carrier newbuildings ordered at their own shipyards in China.

Crew wage talks stalled but not ‘confrontational’

INTERNATIONAL Bargaining Forum (IBF) talks between shipowners and the International Transport Workers’ Federation (ITF) are at an impasse, with employers seeking a 10% cut in overall reward packages and unions pushing for an increase, key figures from the shipowner negotiating team said.

China ports assets swap on cards

GUANGDONG provincial government-owned port and shipping conglomerate Chu Kong Shipping Development is looking to purchase its parent group’s port assets in a bid to revive its business.

OECD defers shipbuilding competition discussions

SHIPBUILDING nations are not ready to restart negotiations on an anti-subsidy agreement despite Japanese and European concerns about the level of support being given by the Chinese and South Korean governments to their national shipbuilding sectors.

US ports see slight box rise

RETAIL import box volumes at the major US container ports climbed back above 1m teu in May for the first time in four months, but the sector continues to see double-digit declines compared with last year.

Negative view on NYK, MOL

A NEGATIVE view of prospects for Japan’s leading deepsea shipping companies has been issued by Moody’s Investors Service, a leading credit rating agency.