Weekly edition 25 August

NSW ports minister relaxed about making things work

DUNCAN Gay is a man on a mission.

Ship manager apologises to whistleblower after sacking from Tasmania link vessel

A SYDNEY engineer sacked after raising safety concerns about the vessel Andrea has received a statement of regret from his former employer.

Agility terminates Bass Strait service as predicted problems with vessels, competition take toll

AGILITY Shipping’s 12-month attempt at running a trans-Bass Strait shipping service has ended, with the company announcing the termination of its services between Melbourne and northern Tasmania.

Productivity at Port Botany below reasonable level – SAL

The following statement was issued by Shipping Australia last week

Port should be more upfront with lines

I am concerned with the story in Lloyd’s List DCN [page 3, July 28 edition] “High seas and rain wreak havoc with Port Botany turnarounds”.

Indian Ocean piracy raining on climate change research study

Ships avoiding the western Indian Ocean because of rampant piracy are adversely affecting climate observations, according to CSIRO (Commonwealth Scientific and Industrial Research Organisation).

MSC moves to shuffle New Zealand services

MEDITERRANEAN Shipping Company (MSC) has made changes to its Kiwi service, which operates between New Zealand and Australia.

Hastings gets stamp of legislative approval

LESS than a year after a hastily-arranged marriage, the port of Hastings has been officially divorced from the Port of Melbourne Corporation.

Cold comfort in Australian attitude to Antarctic reality

AUSTRALIA’S dormant claim to 42% of the Antarctic continent is under threat. Major powers such as China and Russia have voiced their interest in the continent’s resource potential, suggesting the current prohibition of resource exploitation will be revisited after 2048.

Two live animal bills die a swift death in parliament

TWO BILLS relating to live cattle exports were voted down in Parliament last week.

Transport authority to strengthen funds prospects for NSW

MP JOHN Ajaka says the New South Wales Government’s newly-integrated transport authority will eliminate duplication and strengthen the state chances of securing funding for infrastructure projects.

Rising demand boosts Indonesian coal

Chinese and Indian demand is fuelling strong growth in panamax sailings, reports DAVID BULL

Markets this week 25 August 11

Relief for capesizes as spark of life seen in Asia Pacific

NOL voices cautious optimism

APL, THE container line business of Singapore-listed Neptune Orient Lines, has found some reasons for cautious optimism on its full year outlook, despite warnings of expected full year losses.

No silver lining for boxes

PLANNING fleet deployment for 2011 was never going to be easy for the major container lines, given the wide variation of industry forecasts for demand growth.

Hanjin in quarterly loss double

SOUTH Korea’s Hanjin Shipping posted a second quarter loss of US$254m, more than double the US$126m loss it suffered in the first quarter, as the company’s boxship division took a beating on higher costs and lower freight rates on Asia-Europe and transpacific trades.

A $ each way

An interloper has spiced up the North American trades this year but carriers are more concerned with the impact of the exchange rate and terminal delays, reports DALE CRISP

Gloom descends on London brokers as fixings dry up

Weak chartering markets make it harder for brokers to cover their costs, reports LIZ MCCARTHY

Tui holds Hapag-Lloyd sale

HAPAG-Lloyd shareholder Tui is no longer prepared to give a time frame for its planned divestment of the carrier, which suggests that the sale has been put on hold.

China Cosco warns of a first-half loss

CHINA Cosco Holdings, the Hong Kong-listed flagship of China Ocean Shipping, has warned rising fuel costs and deteriorating freight rates could lead to it posting a loss in this year’s first half figures, but analysts say internal factors are exacerbating the situation.

TCC sues 75 shippers

THE Containership Co has begun filing lawsuits in the US in a bid to recover US$24m from former customers who broke contract terms. The niche carrier, which closed down its liner operations in April, is taking legal action against 75 shippers.

United Shipbuilding to scrap Soviet-era yards

UNITED Shipbuilding Corp (USC) is to scrap a number of inefficient Soviet-era far east yards and refocus on a series of joint ventures with technically-advanced Asian shipbuilders to provide for Russia’s rapidly-growing energy shipping needs.

Casualty briefs 25 August 2011

Maritime

APL box ship detained in Philippines after collision

APL-OPERATED, fully-cellular containership HS Puccini has been detained in Davao port after a collision in the Philippines.

Chamber urges EU to keep shipping out of carbon trading plans

THE INTERNATIONAL Chamber of Shipping (ICS) is keeping up pressure on the European Commission not to include shipping in its emissions trading scheme.

Slow steam ahead for shipping’s upturn

RECENT weeks have seen shipping company share prices and market capitalisations plunge along with global stock markets in response to the turmoil in financial markets and receding confidence in global economic prospects.

Remembering back to the Mecca pilgrim trade: part 1

IN FEBRUARY 1965, as the youngest and most junior deck officer employed by the China Navigation Company, I was appointed fourth officer of the company’s pilgrim ship MV Kuala Lumpur which was employed in the religious trade between Malaysia and Jeddah, the nearest port to Mecca in Saudi Arabia.

Ten years ago and the rural industries still ruled the roost

AUGUST 2001 was the month of “smashing-records” announcements in the exports’ sector.

Eagle Bulk loan battle now casts doubts over future of company

EAGLE Bulk Shipping continues to remain embroiled in a “technical” confrontation with lenders of its US$1.2bn loan revolving debt that, if not resolved, could lead to its compliance certificate being revoked and a shadow being cast over its going concern status.

Lack of buyers sends secondhand values down

SECONDHAND values of 1100 teu boxships appear to have fallen 40% in the last three months, with two vessels changing hands earlier this month at levels around US$6m, as a lack of buyers and weak charter rates put pressure on prices.

China Shipping draws on a non-bank loan

CHINA Shipping Development (CSD), the Hong Kong-listed, China-based dry bulk and tanker operator, disclosed Yuan3.4bn (US$527m) in loans from an affiliate company in a filing to the Hong Kong Exchange this month, describing it as means to stave off tighter lending conditions from major Chinese banks.

Take a closer look at Alang breakers

The myth that ship recycling in India and Bangladesh is locked in methods of 25 years ago needs rethinking, writes SHASHANK AGRAWAL*

Dog days bare their teeth as newbuilds pile up

Orderbook excesses continue to haunt the shipping markets as demand remains flat, writes PAUL SLATER*