INTERNATIONAL NEWS

Stable haven in turbulent era

The LNG sector shows no sense of the panic gripping other maritime sectors despite historically low freight rates and a threat of lay-up.

Newbuilding demand to return in ‘late 2009’

THE short answer to when demand for liquefied natural gas carriers will return and what shipbuilding nation will directly benefit, is probably contained in last month’s announcement that UK energy company BG Group and China’s oil major CNOOC are jointly to order two LNG carriers.

Japan loses its thirst for gas but looks ready to regain the taste

THE SEVERE impact of the global financial crisis has stalled Japan’s taste for gas but its appetite is set for an early return.

Floating LNG system now looking buoyant

FLOATING liquefied natural gas production is moving from the design board into reality as engineering and oil companies push ahead with their innovative plans.

The new prescription to cure Maersk Line’s blues

AP Moller-Maersk could end 2009 in the red, with results dragged down by its container shipping division. JANET PORTER spoke to group chief executive Nils Andersen and Maersk Line boss Eivind Kolding about how the world’s largest liner shipping company is coping with an unprecedented collapse of cargo volumes and a ferocious price war

Residual terror threat hangs over shipping in Sri Lanka

Following the demise of the Sea Tigers and death of the Tamil leader, there is new potential for significant port investment in a peaceful Sri Lanka, writes JOHN DRAKE

Red faces over Maersk Alabama hijacking

THE capture of the Maersk Alabama was “a bit embarrassing”, according to BIMCO head of security Giles Noakes.

China eyes iron ore price cuts of 33%

CHINESE steelmakers have been tipped to accept iron ore price cuts averaging around 33%, similar to those agreed last month by South Korean and Japanese mills.

Pirate attacks to top 300

PIRACY incidents off Somalia are on course to break all records this year.

Worst said to be over in China ports decline

CHINA Merchants Holdings (International), China’s largest port operator, said the decline in port throughput at its eight main ports centres in China and Hong Kong had bottomed out in May.

P&I clubs claims to stay high

MARINE mutuals can expect claims levels to remain high despite the downturn in the shipping markets, the Britannia P&I Club has warned.

Norwegian pilots set to strike

HARBOUR pilots in Oslo were set to join a strike last week in support of demands for better pensions.

Upturn seen ahead for idle car carriers

THE SIZE of the idle car carrier fleet has tripled over the past three months as shipowners struggled to match the collapse in demand for their services.

Industry ready on emissions

BIMCO is poised to firm up its stance on reducing emissions from shipping after an undisclosed decision taken at the organisation’s general meeting in Athens. “We have a certain preference”, Robert Lorenz-Meyer, who has just taken over as president of the Denmark-based organisation, said.

Container volumes ‘to fall 10% by year’s end’

MORE gloom has been cast over prospects for a liner shipping recovery with one of the world’s largest sea freight forwarders estimating a double-digit tumble in global container volumes this year.

Container ports that take ‘expand-or-die approach’

Canadian ports united in mindset that expansion is the way forward

In the pipeline: bullish outlook

A SECTOR that has grown considerably on both the east and west coasts of Canada is project cargo, although Houston, Texas, remains the busiest North American hub for Canada-destined project shipments.

NOL and Zim receive fresh cash boosts to steady ships

NEPTUNE Orient Lines is raising S$1.4bn (US$974m) from a rights issue to repay debt and support investment opportunities, while Israeli line Zim has received a US$50m injection from parent company Israel Corp as its losses mount.

More need to exit the box sector – warning

SOME container lines may be forced to drop out of the industry given the huge number of new vessels to hit the market in the coming months, warns logistics company GAC.