INTERNATIONAL NEWS

TT Club upbeat for 2010

Box volumes still only down to 2007 levels as claims fall by a fifth, reports JERRY FRANK

New call to arms against pirates

GUNS and merchant ships are, in general, not a wise combination.

Cancellation and deferrals spread across all sectors

Owners cut repairs as ports scale back on equipment purchases, writes Richard Meade

Further losses loom for Japanese trio

JAPAN’s big three shipping companies all sank into the red in the first quarter of the year, and NYK and K Line are now forecasting full-year losses.

Operating costs to fall – report

IN THE midst of recession, hearing that the cost of running a ship is likely to fall must be welcome news for shipowners.

China firms looking at wage costs

MORE than two-thirds of 150 large Chinese shipping companies intend to freeze or cut salaries this year in a bid to tackle the tough business environment.

Managers buyout B&B fund

A TEAM of former managers has acquired the €2.2bn (US$3.1m) Babcock & Brown European Infrastructure Fund (BBEIF) together with Babcock & Brown’s associated interests in the fund.

Scrap yards feel pressure

CAPACITY at scrapping yards has reached around 80%, heightening concerns about whether there will be enough facilities to cope with the rising number of ships sold for demolition.

Market share bright spot in general gloom

HALF-YEAR results from the world’s top two logistics giants, Deutsche Post DHL and Kuehne+Nagel, continue to paint a no-growth picture for the full year 2009.

Hapag-Lloyd seeks charter rate cuts

HAPAG-Lloyd is pressing shipowners for a hefty cut in charter rates as part of a rescue package similar to the one negotiated in May by Chile’s CSAV.

Box giants in stand-off with bank over call for more money

TWO of Europe’s largest containership operators are heading for a showdown with Korea Eximbank over demands for extra money to cover the cost of newbuildings that were already financed and are ready to be delivered.

WTO says China will lead rally of global economy

GLOBAL commerce officials are looking to China to power a world economic recovery, but trade volumes are still set to contract by 10% this year.

Shipping to plug huge gap in UN climate deal

SHIPPING, along with aviation, could be used to plug a multi-billion-dollar gap in the funding of CO2 reduction schemes when governments meet to agree a post- Kyoto climate change pact in December.

Japan and Taiwan exports signal hopes of recovery

A SLOWING of the decline in Japanese and Taiwanese exports has sparked suggestions that Asian economies are benefiting from global quantitative easing, although there is no sign yet of an upturn.

US imports set to bounce back

BANANAS and medical equipment were the only two major US import categories that showed growth in the first quarter as container lines suffered their biggest slump in inbound cargo for almost two decades.

Upturn cheer for gasping box lines

CASH-starved container lines are pressing ahead with a second round of freight rate rises in the Asia-Europe trades after unexpected success in lifting box revenues at the start of the month.

Goodyear quits Temasek roles after falling out

CHIP Goodyear has walked away from becoming chief executive of Singapore state investment group Temasek, owner of the PSA International ports group and a majority stakeholder in shipping line NOL, due to “differences regarding certain strategic issues”.

Port workers break ranks in the battle of Marseilles

FRANCE’S leading port workers’ union has sounded the end of the battle over port reform at Marseilles’ Fos deepwater complex.

Container lines warned off very large alliances

SHIPPERS from around the world are warning container lines to avoid forming alliances that are excessively large. While accepting that benefits can be obtained from consortia through economies of scale, shipper groups are anxious to ensure such cooperative arrangements between lines “strike the right balance”.

Cargotec in the red as sales fall

Challenging first half of 2009 has required heavy restructuring, reports Roger Hailey