Weekly edition 10 February

Rowsthorn in sudden exit

SHIPPING and stevedoring giant Asciano pulled a surprise on Tuesday, replacing chief executive Mark Rowsthorn.

Yasi spares ports but devastates Queensland agricultural output

PORTS across northern Queensland avoided extreme damage after one of the most severe Australian cyclone in decades. However, commercially important crops were devastated.

Grand old commodity that wood be the new king

CHINESE demand for Australian wood is set to surge, according to the latest international export figures.

Green light for Botany penalty traffic plan

SYDNEY Ports Corporation (SPC) has revealed the long-awaited details of the new penalty regime to cover delays at Port Botany.

March verdict on coal protest in Newcastle

THE OUTCOME of Port Waratah Coal Services’ (PWCS) court action against a group of climate protestors will be revealed next month.

Soft box a big saver

MARITIME classification society Lloyd’s Register has approved a new container designed with ocean shipping in mind.

Ports Australia on reform

Reforming Australian shipping – a discussion paper for stakeholder consultation

More rough weather for capesizes

Climate-related cargo shortfalls in Australia blamed for 70% fall in January earnings, writes MICHELLE WIESE BOCKMANN

Investors head where wind blows

Offshore windfarms in the US and UK have been attracting big money – some of it from those traditionally linked with the maritime world, writes BARRY PARKER

Grand China harbours stratospheric ambitions in a crowded sphere

HNA subsidiary has announced that it is seeking to become the world’s third largest dry bulk outfit by 2015 with a fleet of 200 ships, reports TOM LEANDER

China ramps up newbuild bulker record

CHINESE yards built more than half the record 78.3m dwt of newbuilding deliveries that entered service last year, as an increasing number of new facilities ramped up capacity.

Mid-sized boxships in new lay-up threat, warns MSC

Aponte says the arrival of new larger tonnage could leave smaller containerships out of work, reports JANET PORTER

New round of boxship orders will strengthen growth of Asian lines

THE FRAGILITY of the banking financial recovery in Europe will lend a bias toward growth in Asia’s container lines over time.

Box rates face more pressure

CONTAINER freight rates face further downward pressure this year as European ports are forecast to experience “single-digit” rises for both import and export box volumes in 2011, according to new research.

Lines mull diverting boxships via the Cape to avoid Egypt

CONTAINER lines are drawing up contingency plans in the event of the Suez Canal being blocked and are prepared to deviate around the Cape of Good Hope if necessary.

Insurers cool despite Egypt turmoil

DELAYS on shipments through the Suez Canal are likely to result from the political crisis in Egypt, although chances of outright closure are low, according to Lloyd’s market-oriented risk consultancy Exclusive Analysis.

India sets out 10-year maritime blueprint

INDIA has launched a comprehensive 10-year maritime policy agenda for growth. Targeted issues include port capacity, the Indian-flagged fleet, shipbuilding, P&I and seafarers.

US raises concerns over moves into deeper water

JANUARY is the reporting season in Washington, DC, where policy actions can reverberate beyond the US Gulf to all around the globe.

India predicted to lead coal imports by 2019

ANNUAL coal imports to India grew 20% in 2010 to surpass 100m tonnes for the first time, with the country now forecast to become the world’s largest importer by 2019.

Stena Bulk develops taste for edible oils with Weco stake

SWEDISH tanker operator Stena Bulk has acquired a 50% share in Danish owner Weco, part of the Dannebrog group, as part of a focus on biofuels. The Gothenburg-based owner is to focus its fleet of 15 coated medium-range tankers and ten 65,000 dwt P-Max vessels on biofuel and vegetable oil trades as it moves away from the standard medium-range markets.

Markets 10 February 2011

China’s return from break set to drive rates’ direction

Los Angeles 2010 box volumes hit 7.8m teu

WEST coast box port Los Angeles, the largest US container hub, saw total 2010 throughputs rise 16% to 7.8m teu, back to the level of 2008, with exports leading the way.

Economic growth set to be slow but steady

THE WORLD Bank in its latest outlook expects global economic growth will slow to 3.3% this year, from3.9% in 2010, before edging up again to 3.6% in 2012.

Syndicated loans hit US$50bn in 2010 as lending improves

SYNDICATED lending to shipping in 2010 showed signs that shipping banks were increasingly willing and able to take on shipping risk, according to the latest statistics from Dealogic.

Casualty briefs 10 February 2011

Maritime

MSC boss calls for security in key Indian Ocean corridors

GIANLUIGI Aponte has personally intervened into the fight against piracy with a proposal for secure corridors covering key routes across the Indian Ocean.

TCC turns attention to assets

THE Containership Co (TCC) is close to buying its first ship and is in negotiations about a series of newbuildings. The industry newcomer is developing the asset side of its business.

Golar secures series of strong LNG deals

GOLAR LNG Energy has secured time charter contracts of 12-18 months for four of its liquefied natural gas carriers at a daily time charter rate estimated to be around US$67,000.

Plan to hit pirate bases supported

DANISH shipowner grouping Danmarks Rederiforening has come out in favour of calls to give international special forces the option of destroying pirate bases on land in Somalia, as part of a wider drive to combat piracy.

Box lessors enjoy huge turnaround in fortunes

Sector represents bulk of investment in new containers as shipping lines’ funding commitments to newbuilding programs are curbing their budgets, reports GAVIN VAN MARLE

CMA CGM leads drive to cut wood content in containers

THE announcement that CMA CGM is testing the composite container floor material produced by Canadian firm Conforce could mark a major step change in one of the container shipping industry’s dirty little secrets.