INTERNATIONAL NEWS

Government policy paves way for UK ports growth

Draft National Policy Statement says shipping is the only effective way to move freight in and out of the UK, reports ROGER HAILEY

Beijing urges its shipyards to march into LNG sector

Chinese yards are looking to follow Hudong-Zhonghua Shipbuilding in breaking into the high-end liquefied natural gas carrier and offshore building sectors, which have been dominated by neighbouring Japanese and South Korean yards, writes HUI CHING-HOO

Indian Ocean now ‘unfit for seafarers’

SHIPOWNERS should no longer be permitted to send vessels through pirate-infested waters, according to the International Transport Workers’ Federation (ITF).

Investors start to count cost of US$36bn box terminals bet

A HUGE US$36bn of funds was poured into the ports sector between 2000 and 2007, almost half of it in 2007, an unprecedented year for investment in container terminals.

HSH doubles shipping lending loss provisions

THE WORLD’S largest ship financing bank, HSH Nordbank, has nearly doubled loss provisions for its shipping business to €959m (US$1.43bn) during the third quarter, resulting in a major loss for the division.

Tanker sector ready for CO2 goal

THE TANKER industry will be able to reach a target of a 20% reduction in greenhouse gas emissions by 2020 if the European Commission introduces this target, says Intertanko’s new chairman Graham Westgarth. Owners would have to adopt technical measures, and work with other parties if the target is to be met, Capt Westgarth said as he launched Intertanko’s policy on greenhouse emission reduction.

Day of reckoning looms for boxship owners

FIVE weeks from now, many containership owners could be staring at bankruptcy after year-end audits finally force the issue of asset values into the open, with probably far-reaching consequences.

Freight rates may return to growth, says Maersk

THE CONTAINER market will return to growth next year and freight rates may rise as carriers curb capacity increases, AP Moller-Maersk said last week.

Snow blocks ports in China

VESSELS were left queueing outside major coal and iron ore ports in Hebei province, northern China, due to heavy snowstorms.

Hamburg ship valuations a ‘fudge’, say critics

CONTAINERSHIP owners who are pinning their hopes on the ship valuation formula devised by Hamburg shipbrokers to see them through the crisis could be in for big shock at the end of the year, critics of the scheme have warned.

Poll finds ship finance is stabilising faster

A YEAR on from when western banks were set to fall like ninepins, some sort of security seems to have returned to the market. But any poll or survey – something with concrete evidence of what people are thinking – is likely to garner a lot of interest.

Refrigerated container volumes dropped 2.5%

REFRIGERATED cargo is weathering the container shipping slump far better than dry freight, with volumes only marginally down on the year in most major trade lanes, in contrast to the collapse in demand felt elsewhere in the market.

DHL enters eInvoice

DHL Global Forwarding has joined the Inttra eInvoice initiative.

DryShips buys query

DRYSHIPS said on Friday that an agreement unveiled a few days earlier to buy two modern bulk carriers remained unaffected, in spite of market rumours suggesting that the duo may not be heading to the cash-rich Athens-based dry bulk and offshore drilling company after all.

Investment funds eye CMA CGM

TWO investment funds are understood to be considering responding to the invitation, launched by CMA CGM chairman Jacques Saadé last week, to invest in the struggling container line operator.

Bulker confidence on the rise for 2010

LISTED Greek dry bulk owners last week forecast a healthy charter market in 2010 following a surge in freight rates over the last month.

New global database to weigh up box data

FORMER Nedlloyd executives are behind a new global database that will provide container lines with trade information on more than 2,000 commodities.

Boxship speeds of 14 knots to become norm

CASH-starved container lines are ignoring a chance to make huge cost savings by slowing down ships to about half their usual speeds.

Toxic vessels debate still rages

As the number of ships sent for breaking rises, many safety issues remain unresolved, reports Steve Matthews

Slow speeds prompt changes to contracts

CONTAINERSHIP charterparty contracts are starting to contain various new clauses as owners and operators adjust to changing market realities.