INTERNATIONAL NEWS

Intertanko mulls pilot plan for Malacca

INTERTANKO is mulling recommending pilotage for tankers transiting the Malacca and Singapore straits. Pilotage in the busy waterways was discussed by Intertanko and its Singapore membership on Monday.

Defence of beaching deepens concern

QUESTIONS have been raised over Bangladesh’s ship recycling practices after a governmental official attempted to deny that vessels dismantled using the beaching method were directly harmful to the marine environment.

CMA CGM chief’s fury over bank ousting claim

CMA CGM chairman and founder Jacques Saadé has reacted indignantly to a report that the group’s banks are seeking to oust him as the price of their participation in the restructuring of its US$5.6bn debt.

Taiwan’s Evergreen slides further into the red

EVERGREEN Marine Corp, Taiwan’s largest container shipping line, plunged deeper into the red after posting a net loss of almost T$7.3bn (US$224m) for the first nine months of this year following the ongoing slump in the box trades.

Hapag-Lloyd slashes pay

HAPAG-LLOYD has announced internally an across-the-board pay cut of at least 5% for all staff worldwide, including seafarers, with senior employees facing a 20% reduction in salary, the company has confirmed.

Support vessel slump to continue

A SURGE in newbuilding deliveries will keep charter rates and utilisation levels for offshore support vessels (PSVs) depressed for the next two years, DVB Group said.

Cancellations ease as owners alter delivery dates

THE PACE of newbuilding cancellations has slowed over the last four months, with only a 6% rise in terminated contracts, as owners prefer to delay vessel delivery dates instead.

Top three Japanese owners slip into red

ALL of Japan’s top three shipowners – Mitsui OSK Lines, K Line and NYK – sank into the red for the first half of the year, with only MOL still forecasting full-year profit.

EU conference ban has put shipping lines in legal limbo

EUROPEAN Commission efforts to persuade other jurisdictions to ban conferences are making little headway, leaving shipping lines that operate in a global market to contend with a glut of regulations.

Cash crunch takes toll on owners as options dry up

CONDITIONS in the container shipping industry are going from bad to worse as cash flow starts to dry up.

DP World sees container trades stabilising

DUBAI-headquartered ports operator DP World said signs of stability were starting to return to the container trades, but it nevertheless expects the final months of the year to remain challenging.

Maersk to launch Iraq feeder

MAERSK Line is to start operating a feeder service to Iraq next month. The service would run between Jebel Ali in Dubai and Umm Qasr in Iraq, the Danish line said. A Maersk-owned, US-flag vessel will be deployed on the rotation.

Poll finds 45% of crew want to carry a gun

NEARLY half of UK and Dutch seafarers believe they should be allowed in principle to carry guns in the face of the pirate threat, according to an online poll conducted by the officer-dominated Anglo-Dutch maritime union Nautilus International.

Singapore Strait could take more traffic, study says

THE SINGAPORE Strait could handle a 75% increase in shipping traffic safely, according to Singaporean authorities, although industry organisations are concerned about the potential impact on navigation.

NOL posts heavy third-quarter loss

NEPTUNE Orient Lines expects to remain deep in the red well into next year, with depressed conditions in the container trades showing no sign of easing.

Job cuts kept in the shadows

Despite the steady stream of shipping redundancies, very few companies are prepared to come clean about the true extent of their rationalisation activities. RICHARD MEADE reports

Brokers enjoy benefit of ships oversupply

BRAEMAR Shipping Services has found a silver lining in the industry’s swollen orderbook: the huge oversupply of ships threatening freight rates over the next five years will create more business for the broking group.

Maersk Line’s quiet enjoyment clause sparks lender discontent

CLAUSES inserted into charter contracts by shipping giant Maersk Line and some other carriers are starting to cause major problems for ship lenders as the risk of defaults by owners increases.