Weekly edition 9th December

ACCC sees need for increased stevedore rivalry

STEVEDORE performance in 2009/10 was largely affected by an increase in demand for their services, a report by the Australian Competition and Consumer Commission (ACCC) found.

Beluga ship embroiled in row over the safety of toxic waste

A SHIPMENT of toxic cargo from Port Botany, Sydney, to Denmark was indefinitely postponed last week after unions raised health concerns.

Customer outrage at 55% price hikes by 1-Stop

DATA provider 1-Stop has hiked prices for its various services by between 9% and 55%. 1-Stop, a 50/50 joint venture between stevedores Patrick and DP World, provides a range of data regarding vessel scheduling and the arrival/departure of containers in Australia.

Reform to fore as government seeks input on shipping future

Long-promised comprehensive reform to resusitate Australia’s dying shipping sector is firmly on the agenda. It already has its strong supporters and detractors. But the detail is on the table and all interested parties have to chance to influence the new laws, reports DAVID SEXTON

Free trade, small government – or a survival strategy?

IN OVERHAULING the Navigation Act 1912, the Labor government faces criticism on two fronts.

State steps in to reverse Patrick Botany rail window price hike

THE NEW South Wales Government has rejected a move by Patrick to increase its rail window fees at Port Botany by 67%.

Optimism grows for ongoing recovery in lending

Petrofin managing director Ted Petropoulus offered a timely insight into the state of the ship finance banker’s mind and the ship finance market at Informa’s London Ship Finance conference recently.

Pacific rates up to cover losses

SAYING that two quarters of good results have not yet compensated for six quarters of heavy losses, Young Min Kim defended the guidelines issued last month by the Transpacific Stabilisation Agreement (TSA).

Prudent Pacific Trust is getting ambitious

PACIFIC Shipping Trust may pride itself on its prudent and conservative approach, but the last five months have been anything but sedate for the Singapore-listed trust.

Q When is a mercenary not a mercenary? A When he’s your private contractor

By condoning use of on-board mercenaries the European Union has admitted defeat in its battle with piracy, writes JUSTIN STARES

Patrols are said to be working

SOME 18 vessels and 389 seafarers were being held by Somali pirates in October.

Quality is key for Chinese yards

To prove itself the world’s dominant shipbuilder, China needs to compete directly against the standards established in Korea and Japan, reports COLUM MURPHY

Seasonal squeeze set to hit container sector

A NORTHERN winter squeeze will continue to challenge container shipping, although overcapacity will peak at the end of the first quarter 2011 and then gradually recover, claims an industry update.

Box freight spot rates still sliding

CONTAINER freight spot rates continued their downward slide across all of the major trades at the end of November, according to the latest Shanghai Container Freight Index.

Copenhagen pledges insufficient for 2°C global warming limit

A NEW report from the United Nations Environment Program says that even if all the pledges made at the Copenhagen summit last year are implemented there is still a gap with what needs to be achieved to meet the agreement to limit global warming to 2°C by the end of this century.

Doubts raised over HMM bid for Hyundai E&C

HYUNDAI group’s bid for troubled Hyundai Engineering & Construction may have hit a snag ahead of a critical deadline for completion of the deal.

Maersk ‘cake’ jibe sparks a protest

OFFICERS on around 40 Maersk boxships have participated in an unprecedented email protest campaign, after Maersk Line’s chief operating officer Morten Engelstoft sent out a message ordering seafarers to eat cake to celebrate the parent group’s US$4.2bn third-quarter profit.

New force in fuel expands as high pressure prospect

With climate concerns constantly in the news, it is little surprise that a fuel that is cleaner and more efficient is on an upward trajectory. LNG is doubly important to shipping both for powering ships and as commodity requiring specialist transport, writes David Sexton*

Shale gas to turn a tap for shipping

An anticipated influx of natural gas will force down its price, making LNG a more attractive fuel, writes CRAIG EASON

Shipowners eye potential of gas as an engine fuel

Gas is cleaner than normal fuel oil and may become cheaper too, but there are many hurdles to negotiate before it can become a reality, writes CRAIG EASON

Costs and infrastructure prohibit take-off of gas-powered shipping

THERE is little belief that gas-powered shipping will take off without some sort of state support.

Tasmania’s Incat pioneers LNG-powered fast ferry

INCAT has revealed it is building the world’s first LNG-powered high-speed ro-pax at its Tasmanian yard.

Gas sailing patterns are not cut out for strikes

IT IS now six weeks since the workers at the three French liquefied natural gas terminals called off the strikes that had paralysed French LNG imports for nearly a month.

Asia ramps up gas usage to satisfy carbon targets

China’s LNG demand up 70% in first nine months of 2010 offsetting US import slump and absorbing tonnage glut, reports HAL BROWN

R-R responds to interest with engine upgrades

ROLLS-Royce Marine has upgraded its gas engines as demand increases for natural gas as a fuel.

Shipyard debt could wreck Vietnam PM’s plans

IT IS a rare occurrence that a head of a government finds his own credibility and perhaps his future threatened by a dust-up in his nation’s maritime sector.

Dockwise rights issue to fund new ship type

DUTCH heavylift specialist Dockwise has secured boardroom approval for a €78m(US$105.6m) rights issue that will part fund the US$200m price tag to build a new type of semi-submersible vessel.

CMA CGM secures its future with US$500m investment

CMA CGM has secured its future through a landmark deal with Turkey’s Yildirim Group that leaves the Saadé family firmly in control of the French liner shipping company after a year-long battle for survival.

Dalian shares fail to inspire

DALIAN Port (PDA) settled on an offer price of Yuan3.8 per share for its initial public offering of its Shanghai-listed A-share market shares.

Trade slides in third quarter

WORLD trade volumes have slowed significantly in the third quarter, with growth of just 0.9% for the three months ending September 30.

Freight derivatives in impasse as brokers fight ‘competition’

THE WORLD’S dry freight derivatives industry is at an impasse over plans to migrate business from voice-broking to a centralised trading screen, in order to increase liquidity.

Freight derivatives in impasse as brokers fight ‘competition’

THE WORLD’S dry freight derivatives industry is at an impasse over plans to migrate business from voice-broking to a centralised trading screen, in order to increase liquidity.

Cargill chief welcomes screen boost

COMMODITIES giant, Cargill, the world’s largest trader in dry bulk derivatives, says the lack of exchange trading in forward freight agreements has limited growth of its ocean shipping division.

Winners, losers in a year of pain

The world’s 100 top container ports’ volumes fell by more than 37m teu. It was as if the combined throughput of Singapore and Pusan had simply vanished, writes GAVIN VAN MARLE

Asian, Mid East ports first out of the box

CONTAINER terminals in Asia and the Middle East make more intensive use of their resources than their European and North American equivalents, while the global move towards automated terminals has been “slow and challenging”.

Maersk aims for 95% container efficiency target

MAERSK Line has set its sights on achieving a 95% schedule reliability, but believes this will only be hit with substantial help from terminals.

Ignoring is bliss when it comes to accounting

Like ‘fair value’ accounting, the latest International Accounting Standards Board rule on time charters should be treated with caution, writes TOM LEANDER

TTA takes stake in Vietnamese port

BANGKOK-listed Thoresen Thai Agencies (TTA) has acquired a 20% stake in a port in Vietnam as part of the company’s strategy to diversify into infrastructure projects.

Europe port volumes to rise in 2011

EUROPEAN ports should see further growth in 2011 after a healthy recovery in trade this year, despite public spending cuts in many debt-laden countries that could hit consumer demand.

HK will forge closer ties with mainland

HONG KONG is set to play a bigger role in China’s maritime development, according to Hong Kong Shipowners’ Association (HKSOA) chairman Kenneth Koo.

On target: HHI newbuilding orderbook nears US$4bn

HYUNDAI Heavy Industries had already achieved 94% of its full-year target for conventional shipbuilding by the end of October, according to statistics released by the world’s largest shipbuilding company, writes Colu

Europe backs box pools to ease shortages

EUROPEAN shippers have refloated the idea of a common pool of maritime containers – known as the grey box concept – to reduce container equipment shortages and improve box asset productivity.

China puts choke on dollar flows

CHINA’s central bank is keeping the lid on dollar flows, which could restrict the availability of Chinese capital to shipping, according to a Hong Kong-based financier.

Big hopes despite offshore operators’ mixed results

Most listed drillers and service providers have now reported their third quarter figures, amid continued optimism, writes BARRY PARKER

European yards lead way in making complex vessels as Asia builds in bulk

STX OSV’s prospectus provides a detailed overview of the increased dominance of Asian shipbuilding, building higher quantities of standardised vessels.

WA iron ore route to China tops 2010 dry bulk flows

But Brazil to China shipments provide industry with the most tonne-mile demand, writes MICHELLE WIESE BOCKMANN

Union calls for inquiry into cadet death

SEAFARER trade unions in Europe and South Africa have marked United Nations International Day for the Elimination of Violence Against Women by highlighting the case of 19-year-old Akhona Geveza, who was allegedly raped and murdered on board a UK-flagged ship.

Heading for deeper water with more modern vessels

ANY DOUBTS as to the vibrancy of the offshore drillers and support fleets were assuaged by the emphasis on the sector at the recent Marine Money conference in New York.

Security situation in Nigeria to improve

THE MARITIME security situation in Nigeria is likely to improve in the near-to-medium term, as the result of a recent government offensive in the Niger Delta, according to a report from Bergen Risk Solutions.

Iranian tanker evades hijack bid

AN IRANIAN-controlled very large crude carrier of a similar size to the largest-ever hijack victim Sirius Star was attacked by Somali pirates at a position 19 47N62 59E according to maritime security sources, writes David Osler.

Greens will appeal Delaware dredging

ENVIRONMENTALISTS have pledged to appeal against a decision by a federal judge in Delaware that has given the green light for dredging the Delaware River down to 14 metres, a project that is germain to Philadelphia’s desire of becoming a sizeable container port.

Buoyant DryShips orders four more drillships

GEORGE Economou-led DryShips is to put down about US$100m in non-returnable deposits to book space for another four state-of-the-art drillships at Samsung Heavy Industries.

Maritime Briefs 9 December 2010

 

UN renews Somalia piracy resolution

THE UNITED Nations Security Council has renewed its resolution authorising states and regional organisations to cooperate with Somalia’s transitional government in the fight against piracy for another year, writes David Osler.

Vietnam approves Vinashin overhaul

VIETNAM’s Prime Minister Nguyen Tan Dung has approved the restructuring plan for troubled Vietnam Shipbuilding Industry Corp.

Offshore boom boosts Singapore insurers

AN INCREASING hunger among Asian countries to acquire offshore energy assets is helping to consolidate Singapore’s status as a global hub for insurance.

Maritime lawyers hear latest on new plans for shipping

THERE was humour and good food but also some serious discussion at the annual meeting of the Maritime Law Association of Australia and New Zealand (MLAANZ) last week.

Brokers and freight forwarders come to fore for annual NSW golf day

IN A tightly fought contest, the team from BCR Freight were crowned as golf champions at the annual Customs Brokers and Forwarders Council of Australia’s NSW Golf Day

Looking aft: Putting pirates in their rightful place

PIRACY has been given a string of good press over the course of the 20th century, thanks largely to Hollywood’s efforts to romanticise the act which, in many real world cases, is anything but.