Weekly Edition 14th of May 2009

Freight bodies look to unite

“WHEN YOU are looking at doom and gloom all around, I like to look for opportunities.”

New South Wales ready to join the cruise party

WHAT a difference a quarter makes in the cruise industry.

Online move a big hit with readers

LLOYD’S LIST DCN’s readers have embraced the publication’s new and improved online presence, figures from global search giant Google confirm.

Asciano at loss to explain share price roller coaster

JUST HOW Asciano and its four prospective buyers have dealt with the violent swings in the company’s share price when calculating a value for its assets, is anyone’s guess.

Asciano at loss to explain share price roller coaster

JUST HOW Asciano and its four prospective buyers have dealt with the violent swings in the company’s share price when calculating a value for its assets, is anyone’s guess.

Australian energy giants look for $3bn

SANTOS and LNG Ltd are seeking to raise more than $3bn through share issues to support their ambitions in the liquefied natural gas industry.

Newcastle clean-up dredging now delaying capesize loading plans

THE ONGOING clean-up around Newcastle’s former BHP Steelworks site will temporarily restrict the draught of ships which can be loaded at the port’s third coal terminal from next year.

Allco shipping sale rescheduled

FERRIER Hodgson, receiver of collapsed Allco Finance Group, said the sale or restructure of the group’s shipping assets may take longer than it originally planned.

Airfreight imports claw back above exports in February

AUSTRALIA imported more airfreight than it exported in February, according to the latest figures released by the Bureau of Infrastructure, Transport and Regional Economics (BITRE).

Study tracks north south rail link

OMPLETION of the long-awaited inland rail corridor connecting Melbourne and Brisbane could cost up to $3.6bn, with further analysis needed for several key sections, a study has found.

Toll may ring in new members to logistics family

TOLL GROUP, which bought two overseas companies in less than a week, is not ruling out more acquisitions.

Next stage of Fremantle inner harbour underway

FREMANTLE Ports has started reconstruction of Berth 10 on the northern side of its inner harbour.

Esperance writes off controversial chapter

A SHIP berthed at the port of Esperance would not have raised eyebrows just over two years ago.

WA seeks $50m for grain train

THE WESTERN Australian grain rail network needs $50m from this year’s Federal Budget to kick start the first phase of the rail infrastructure upgrade.

Emissions delay buys rail more time for planning

THE FEDERAL Government’s back down last week on its emissions trading scheme would buy the rail industry more time to push for a “better” scheme, Australasian Railway Association (ARA) chief executive Bryan Nye said.

Speed cameras no snap for greater safety say truckies

THE NEW speed cameras aimed at heavy vehicles will not improve overall road safety, the Australian Trucking Association New South Wales (ATA NSW) says.

Australia-PNG trade prospects

A LACK of infrastructure is hampering Papua New Guinea’s development and the ability of shipping lines to service the country, one of the largest carriers in the country has warned.

DP World locks into Adelaide with 30-year lease extension

DP WORLD will operate its container terminal at the port of Adelaide until at least 2039, following approval of a 30-year extension to its lease. An announcement last week includes the go-ahead for its joint-venture arrangement with port operator Flinders Ports.

Shorthaul from Australia sign of capesize comeback

THE SHORT-HAUL dry bulk sector is emerging from the recession as charterers realise they need to do business, according to Lauritzen Bulkers.

Bearing a heavy burden

After years of rapid expansion and with a sizeable newbuilding program, Chilean carrier CSAV is looking increasingly vulnerable. Is the box shipping slump about to claim its first major corporate casualty?

Shipping is in the grip of ‘gigantism’

MERCHANT vessels will continue to grow in size and offer ever-larger economies of scale, irrespective of the global trade crash, according to French research.

Shipping must face new future – Slater

THE SHIPPING industry must undertake a wholesale restructuring if it is to attract new equity capital and debt financing, First International chairman Paul Slater told the Mare Forum Italian shipping conference in Sorrento this week

UN says Baltic Dry Index has lost its magic touch

THE Baltic Dry Index (BDI) is no longer a bellwether of the world’s economy, according to new research.

MISC profit on the line

MISC has reported a 40% fall in full-year profits, which were dragged down largely by its unprofitable liner shipping business and it expects a tough year ahead.

Hapag-Lloyd announces losses

GERMANY’s largest container carrier, Hapag-Lloyd, suffered operating losses of €222m (US$302.5m) during the first three months of the year, compared with an operating profit of €18.5m in the previous year.

Ship scrap prices may plummet

PRICES for ships sold for recycling could fall as low as US$100 per ldt in the coming months, as demand for ship demolition continues to grow.

More LNG ships on the spot

SEVENTY seven liquefied natural gas carriers remained idle in early May and 25 have not moved since the start of April, according to Lloyd’s Marine Intelligence Unit (LMIU) analysts.

Third of dry bulk orders are poised for the chop

AN ESTIMATED 30% of the world’s dry bulk orderbook risks not being delivered at all, as shipowners in the sector struggle with financing troubles and a lack of cargoes, according to Eagle Bulk chief executive Sophocles Zoullas.

Philippines upholds decision on seafarer disability

THE Philippines court of appeals is upholding decisions that a seafarer is permanently disabled after 240 days of continuous treatment, rather than 120 days.

Korean yards suffer most cancellations

SOUTH KOREAN shipyards topped a list of newbuilding cancellations, at 194 ships.

Dubai hit by economic sea change

Global downturn has seen Dubai’s growth come to abrupt end with shipping feeling the pinch

Storms, crisis lift reinsurance

REINSURERS remain upbeat for 2009, but marine buyers can expect costs to mount in the wake of the financial crisis and the US storms.

Bulker newbuilding cancellations hit 10% of orderbook

THE GLOBAL financial crisis has seen nearly 500 vessels on order at the world’s shipyards cancelled, including about 325 bulk carriers, 9.6% of bulk tonnage on order.

Wilhelmsen off road in slowdown

OSLO-listed owner and operator Wilh. Wilhelmsen remained downbeat about the rest of 2009 as it reported weakened profits for the first quarter.

Trouble is brewing down in the bunker

IT IS curious how fuel has once again flowed to the centre stage, despite oil prices being allegedly quite manageable now the speculators have stopped treating energy as a commodity and (surely temporarily) backed off.

Shipping companies eye iron ore swap contracts

SHIPOWNERS are expected to embrace a new cleared, over-the-counter iron ore swap contract, to be launched this month in London by freight derivatives broker Freight Investor Services.

Unbelievable’ charter rises from ore frenzy

CHARTER rates soared last week as the ‘big three’ iron ore producers dominated capesize fixing activity, while port congestion, particularly in northern China, reduced the number of ships available.

March trade surplus ‘a corker’

AUSTRALIA exported more goods and services than it imported in March, latest government figures show.

Vale buys more bulkers to feed China demand

VALE, the world’s largest iron ore exporter, is looking to buy more capesize bulk carriers as it plans to boost sales of iron ore to China by 30%.

Threats to kill captives will backfire on pirates

FRENCH and American seafarers are now at greater risk of assault and even murder when captured by Somali pirates.

Russia calls for a piracy court

SOMALI piracy appears to be rising up the international agenda after Russia’s head of state, the Nippon Foundation and top naval officers in the US all offered separate suggestions for tackling the growing scourge.

Brussels claims success

JUST one vessel registered with the European Union’s anti-piracy operation was successfully hijacked in the first three months of the operation, according to the latest Brussels figures.

Chief engineer jailed and fined US$3,000

A SPANISH national who served as the chief engineer of the combined chemical and oil tanker Nautilus has drawn a one-month jail term and a US$3,000 fine for maintaining inaccurate records concealing a discharge of oil-contaminated water from the bilges.

Viking Islay master not guilty of causing deaths

THE master of an offshore support vessel has been found not guilty of causing the deaths of three seafarers after they entered the chain locker and collapsed in an oxygen depleted atmosphere.

Liberty boss calls for US to allow arms on ships after attack

LIBERTY Maritime chief executive Philip Shapiro has issued an unequivocal call for firearms on ships and an urgent new US law that would make this possible.

GOLIATH (Netherlands)

London, May 8

COSCO BUSAN (Hong Kong)

London, May 7

ALIZE (Malta)

Odessa, May 8

TORM ALEXANDRA (Malta)

London, May 7

GRANDE BRASILE (Sweden)

Santos, May 6

ZHEN HUA 27 (Hong Kong)

Santos, May 6

Maersk ups freight rates in move to stem downturn

MARKET leader Maersk Line is accelerating its campaign to increase freight rates in key containership trades in the face of the dire outlook for the box market.

Now the biggest US fleet lays up third of product carriers

 

Hong Kong’s swine flu precautions

HONG Kong terminal operators have stopped all unnecessary visits to their ports as a precaution against the spread of the H1N1 swine flu virus.

Idle box ships are a better option than cold lay-up

CONTAINERSHIP charter rates need to fall even further before owners are likely to consider putting ships into long-term lay-up, rather than merely keeping them idle, according to Howe Robinson Shipbrokers director of research Paul Dowell.

ANL goes green for Long Beach recognition

ANL has been recognised with the Long Beach Green Port 2008 award for promoting the voluntary reduction of ship speeds to benefit the environment

Shipping oranges and lemons

Tough times call for smart thinking and what Australia needs from this recession is clever investment in shipping and infrastructure. There may not be another chance.

Fumigation friendly success

TWO YEARS ago there was not a huge demand for Nordiko Quarantine Systems’ cargo fumigation products but environmental and safety awareness has certainly risen since that time.

Providore has acquisitions on its radar

AUSTRALIAN Shipping Supplies, which provides ships with anything from toiletries to engine parts, said its next acquisition would likely be a businesses where the providore currently has a presence.

Jan de Nul to conquer with world no.1 hopper

OFFSHORE dredging contractor Jan de Nul has started operations with the world’s largest trailing suction hopper dredger, the 47,000 gt Cristobal Colon.

Classification societies busy as ever but owners now look to new services

Societies still dealing with huge amounts of new tonnage ordered in good times as well as now offering some alternative services.

Shipowners ‘failing to pay for supplies’

COMPANIES delivering equipment to shipyards are struggling in the global recession because shipowners are not paying their bills, says the new president of the International Ship Suppliers and Services Association (ISSA).