Weekly Edition 4th March 2010
Editor's note on March 4 edition
This week's printed edition will be available online on Monday March 8.
Agder faces US$2m claim over reefer fruit cargo
MAROC Fruit Board of Morocco has secured an arrest warrant against the former Eastwind Maritime reefership Vinson in Massachusetts, seeking to recover US$2m in damages allegedly caused by the deterioration in transit of a fruit cargo entrusted to the ship.
Neftegaz-67 master let out on bail
YURIY Kulemesin, the Ukrainian master jailed for his role in one of Hong Kong’s worst maritime disasters, was released on bail pending an appeal against his conviction on charges related to endangering life at sea.
Ransom paid to release Pramoni
A RANSOM was dropped by parachute to Somali pirates holding Singapore-flagged chemtanker Pramoni, a statement from the European Union’s Navfor has confirmed. It is not clear how much money was paid to release the 2008-built, 19,998 dwt vessel, which was seized on January 1 with 24 Chinese, Indian, Nigerian and Vietnamese seafarers onboard.
Norway hands Cosco US$39m spill bill
FLASHBACK: The Full City grounded on July 31, 2009, leaking more than 200 cu m of oil.
Call for dock safety reform
THE AUSTRALIAN Maritime Safety Authority (AMSA) reacted to Maritime Union of Australia (MUA) criticism this week, saying the release of proposed changes to the rules governing safe loading of ships was imminent.
Supply chain complains of taking unfair heat in insulation fiasco
FREIGHT forwarders caught up in the Federal Government’s insulation fiasco were being skewered at every turn, according to Customs Brokers and Forwarders Council of Australia executive director Steve Morris.
Asciano back in black but fears QR sell off
ASCIANO managing director Mark Rowsthorn said that while his company was not opposed to the privatisation of Queensland Rail it does have a problem with the “flawed” model.
Bell Tolls as investors react to leaner results
TOLL Holdings’ after tax profit slumped 32% in the first half of 2009/10 and the transport and logistics operator forecasts that its second-half performance will be much the same.
COAG committee tears strips off body’s performance in the transport sector
THE COUNCIL of Australian Governments (COAG) Reform Council says it is particularly concerned about the lack of competition reform progress that the nine governments have made in transport and infrastructure.
Queensland is chosen to host new road regulator
AUSTRALIA’S national heavy vehicle regulator will be based in Queensland, beating off challenges from New South Wales and Victoria.
VTA looks forward to liner talks on empty containers
THE VICTORIAN Transport Association (VTA) has welcomed Shipping Australia’s agreement for talks to proceed this week on empty container management in Melbourne.
Lyttelton earnings fall, merger talks continue
THE FIRST half of 2009/10 was a “challenging” period for New Zealand’s Lyttelton Port, which reported a 35% decline in profits.
Golar revenue lift ahead of Gladstone
GLADSTONE liquefied natural gas developer Golar LNG has reported a 30% increase in revenue from its shipping operations due to improvements in utilisation and charter rates of its trading LNG carriers.
Tauranga posts rise despite volume dip
PORT of Tauranga’s after tax profit for the last six months of 2009 rose 2% to NZ$23m ($18m) despite a fall in trade volumes.
Port of Melbourne results show depth of progress
THE WINDS of change are blowing Melbourne’s way, with the effects of channel deepening and the end of the global financial crisis being felt.
Empty box problem exacerbated by lines – CBFCA
IMPORTERS and exporters claim they are bearing the added cost of chronic congestion at empty container parks in Melbourne, Sydney and Fremantle caused by the inability of some shipping lines to designate a site where boxes can be returned.
Landmark piracy decision reached by English Court
EVERYBODY in the maritime community is aware of the rapid increase in piracy in the last two years particularly off the Horn of Africa.
Terminating a contract may hinge on intention to fulfil
If you need to back out of a contract, your long-term conduct may be taken into account, reports RICHARD MABANE*
Maersk comes to terms with lay-up’s new form
When Maersk Line decided to anchor six boxships on Scotland’s Loch Striven there was little practical advice available on lay-up procedures. JANET PORTER visited the site and spoke to senior company officials about the challenges of shutting down modern vessels
Dangers of out-of-date charts
Recent Paris MoU data reveals that 7% of all ships detained were for inadequate nautical publications. JULIAN MACQUEEN highlights the dangers of using older maps as questions are raised over the accuracy of the chart data
Mini-industry born in ruins of 9/11
US REQUIREMENTS for 100% scanning of inbound maritime containers by 2012 – now extended to the summer of 2014 – have spawned a mini-industry striving to meet the rigorous technical demands of a regulation set by Washington in reaction to the September 11 terrorist attacks.
Moody’s forecasts only partial recovery in 2010
GLOBAL ratings agency Moody’s forecasts that the tanker and dry bulk sectors will partly recover in 2010, although there will not be a full recovery. However, the outlook remains gloomy for the container sector.
Chilean ports assess extent of damage from earthquake
CHILEAN ports and naval facilities were picking up the pieces early this week following a devastating earthquake that rocked the country early on Saturday morning.
Horizon to attempt fast-steaming play
HORIZON Lines has launched the first challenge to slow-steaming ocean carriers, unveiling its own high-speed weekly service from China to the US west coast from this December using five 23-knot ships.
Freight forwarders find greater favour – reports
SOME of the world’s largest sea freight customers are increasingly turning to freight forwarders to help them fulfil their supply chain requirements, according to the latest reports from Drewry Supply Chain Advisors.
Connecting with the future
INTERMODAL terminals with the ability to better connect the various forms of transport will go a long way in improving the efficiency of freight transportation.
Moorebank poised in shadows to absorb Sydney’s box boom
THE FUTURE of one of the nation’s largest and most crucial infrastructure projects, the Moorebank Intermodal Terminal, is lodged firmly in federal interdepartmental talks and may not be clarified anytime soon.
Small ships lose out on rising rates
SURGING freight rates in the long haul trades are driving containership charter rates upwards as well, with fixture activity brisk and market sentiment improving by the day for larger ships.
Isle of Man register to introduce fees
THE ISLE of Man Ship Registry will introduce an annual registration fee in April for the first time in its 25-year history. Shipowners will pay a flat charge of £700 (US$1,080) per vessel, regardless of the ship size or type, the register said last week.
Singapore tax breaks threaten London broking
SENIOR industry figures in London have raised concerns that the UK Government is not doing enough to retain its title as the home of shipbroking, following Singapore introducing a tax incentive to lure a greater proportion of the business to Asia.
Conference hears super slow steaming poses threat to container fleet growth
SUPER slow steaming is not only underpinning a nascent recovery in containership charter rates, but is set to effectively absorb as much as 350,000 teu from global fleet capacity this year.
Germany blocks guarantees for owners
THE GERMAN Government has effectively ruled out providing state support for the country’s crisis-stricken KG companies and shipowners, as they seek to fund US$36.8bn in boxship newbuildings contracted at South Korean and Chinese yards.
Vessel drought may bring new orders
A “BIG drought” of secondhand vessels for sale in its sectors may nudge dry bulk owner Star Bulk towards newbuildings as it seeks to renew and expand its fleet,. Chief executive Akis Tsirigakis told a conference call: “There is a definite lack of secondhand tonnage to be bought.
Boxship sector braced for more grief
Restructuring and insolvencies could rise as global economic recovery commences, reports Michelle Wiese Bockmann
Asian oil surge will not replace downturn in Western demand
OWNERS of very large crude carriers cannot rely on a surge in Chinese and Indian oil imports alone to offset the drop in demand from countries in the western hemisphere.
Chinese steel demand lifts price of iron ore
THE price of iron ore delivered to China has reached a one-year high as steelmakers increase demand for the material.
Boost for idle LNG carriers
THE NORTH West Shelf liquefied natural gas plant has sent out a lifeline for owners of idle LNG carriers in Asia after going out to tender for three spot cargoes over the next three months.
Chinese yards increase capesize orders
CHINESE shipbuilding yards increased their stake in the capesize bulk carrier orderbook by 3% last year, effectively downsizing the volume of contracts in South Korea and Japan.
Asian market jumps into cost-saving Russian crude
MIDDLE East and Brazilian crude shipments face increasing competition from oil from Russia as traders and refiners across Asia try out the new product.
CMA CGM admits it misjudged recession
TROUBLED containership owner CMA CGM has acknowledged it completely underestimated the duration and depth of the container shipping crisis, which has left the French line battling for survival.
Samsung Heavy to go eco-friendly by 2015
SOUTH Korean shipbuilder Samsung Heavy Industries (SHI) has set itself ambitious targets to cut harmful emissions from the ships it produces.
Taiwan takes regulatory route to boost industry
THE TAIWANESE Government has unveiled measures, including tax breaks and establishing a harbour regulatory authority, to boost Taiwan’s shipping industry.
Athens eyes shippers but treads a fine line on economic recovery
As Greece considers how to revive its economy, it receives a timely caution against driving shipowners away. Yet billions are rumoured to have already left the country, writes NIGEL LOWRY
Brussels raps US over cost of 100% box scanning at EU ports
THE EUROPEAN Commissioner for Taxation and Customs Union has released a strongly-worded report condemning US government plans to introduce 100% scanning of containers at the ports of export and claimed that the European Union “does not contemplate implementing 100% scanning of containers at export”.
K Line shares up sharply as price is set for offer
SHARES in Kawasaki Kisen Kaisha surged nearly 3.5% last week after the Japanese shipping line set the price for a major share offer involving 126.5m shares that will raise up to ¥38.1bn (US$418.9m).
