Weekly Edition 4th November

Drewry alerts ports to the price of much bigger ships

A SERIES of predictions about the future state of the shipping industry as it affects Australia and the domestic ports industry was revealed last week by David Bayne, a consultant with Drewry Shipping Consultants.

Curtis Island now set to put Queensland on the gas map

CONSTRUCTION in Queensland has been approved for the world’s first coal seam gas supplied LNG plant.

Ports meet food for thought

PORTS Australia held its 42nd Biennial Conference last week amid the beautiful natural environment of Tasmania.

Trade patterns must be read for survival

PATTERNS of sea-borne trade are changing between Australia and the rest of the world, revealed Alan Copeland, a manager with ABARE-BRS, during the 42nd Biennial Ports Australia conference. And that is going to be important for ports.

Asciano walks annual meeting tightrope with balanced style

THERE was a touch of gloom at the recent Asciano Group annual meeting in Melbourne.

Freight rate increases bring Yang Ming back

TAIWANESE container line Yang Ming Marine returned to black in the first three quarters, recording net profit of T$10.4bn (US$333m) compared with a loss of T$10.7bn in the same period last year.

China Cosco fourfold rise in profits

CHINA Cosco Holdings, the listed affiliate of China’s largest shipping line China Ocean Shipping (Group), posted a massive fourfold growth in net profit to Yuan2.1bn (US$308m) in the third quarter, compared with Yuan422m in the same quarter last year due to a significant increase in its container shipping volumes.

Maersk secures LR verification for CO2

WHILE mandatory emissions targets for shipping remain a controversial topic, the demands of cargo owners, themselves under increased consumer pressure, are likely to have as much effect on shipping’s environmental performance as anything from a legislative body.

HMM unveils details of new LA terminal

HYUNDAI Merchant Marine has revealed details of the move of its US west coast terminal from the port of Long Beach to the port of Los Angeles.

ACL back into profit

AMERICAN Commercial Lines swung to a net profit of US$5.1min the third quarter, from a net loss of US$12.2m a year earlier on the back of improved grain pricing and modest increases in income from bulk and liquid transport.

Owners, bankers fear arrival of dry tonnage glut

WITH a chronic oversupply of vessels in the dry bulk sector already depressing spotmarket earnings as record newbuildings enter service and some analysts forecasting that the worst is yet to come, owners looking into the short-term future appear to have little to cheer about.

CMA CGM turns to the French Government for cash injection

TIES between shipowners and national governments appeared to tighten last week after France’s state investment vehicle Fonds Strategique d’Investissement (FSI) said it had received an application from CMA CGM to consider an investment in the line.

US updates Iran ships blacklist

THE US Department of the Treasury has updated its sanctions regime against the Islamic Republic of Iran Shipping Lines (IRISL), by blacklisting 37 entities said to be “front companies” created to slip out of the original blacklist in place since September 2008.

Panama Canal widening set to squeeze US ports

West coast to be more ‘sensitive’ on pricing, while the whole mid-western corridor will be up for grabs, writes ROGER HAILEY

Engine makers join the race to meet NOx-reduction targets

Leading manufacturers are striving to meet the IMO’s regulations by focusing on air volumes into the engine through the installation of next generation turbochargers, writes CRAIG EASON

Time for HK to get its hands dirty

Incentives from government could transform the city reports, TOM LEANDER

Thrill of the kill keeps Hong Kong broker honest

The irrepressible Simon de Courcy Hughes looks back over more than three decades as a leading shipbroker. ANNA HEALY FENTON reports

Stirred, not shaken

Always the most trouble-prone of our major container trades, North & East Asia has again lived up (or down) to expectations in the last 12 months. But, as DALE CRISP reports, there’s maturity amidst the mayhem

Hot competition for intra-Asia market

INTRA-Asia trade is a double-edged sword for shipowners.

Chinese trio confident of growth

CHINA’s container shipping industry witnessed a strong recovery this year as a result of the resurgence in the country’s exports.

Employers miss out with top talent more optimistic on jobs

THE SHIPPING job market is far stronger than some employers realise, according research by specialist maritime job agency Faststream Recruitment Group. The agency’s maritime employment review discovered that experienced candidates were more optimistic about employment prospects “than perhaps at any time this year”.

Chinese growth seen to ease global double dip

SHIPOWNERS still face the prospect of a second dip in the global economy, but can also look forward to continued growth in trade as China’s internal demand begins to compensate for any loss in its exports.

Hyundai battle sparks takeover talk

A CONTENTIOUS battle among rival members of South Korea’s Hyundai clan to win control of the nation’s top construction company could open the door for a takeover of Hyundai Merchant Marine, the nation’s second largest shipping company.

Home-made ship system saves Norient US$3m

THE LACK of a suitable fleet management tool for its tanker fleet led Copenhagen-based Norient Product Pool to develop its own software.

Profits down at Chinese shipping firm

CHINA Merchants Energy Shipping (CMES), the oil and dry bulk shipping offshoot of China Merchants Group, succumbed to a decrease of 17% in net profits to Yuan107m (US$15.7m) in the third quarter this year fromYuan128.6m in same quarter of 2009 after being hit by declining freight rates.

South Africa port set to expand capacity

SOUTH Africa’s Ngqura Container Terminal (NTC) is to expand its berth facilities, one year after opening for business.

NOL posts pleasing profit for quarter

SINGAPORE’S NOL Group, owner of container shipping line APL, has reported a third quarter net profit of US$282m off revenues of US$2.4bn, compared to US$139m net loss in the same period last year.

Softer plate prices drive down Indian scrapping rates

DEMOLITION rates in India slid south last month having hit year-to-date highs earlier on October.

The Containership Company adds Qingdao call to transpacific link

CONTAINER shipping newcomer The Containership Company (TCC) has decided to expand its current no frills transpacific shipping service to Qingdao to accommodate the rising shipping demand from the city in northern China.

India now considers iron ore ban

INDIA, the world’s third largest iron ore exporter, should ban shipments overseas to ensure that local steelmakers have adequate supplies of the raw material, reports Bloomberg.

K+N warns of drop in sea freight

EUROPEAN logistics giant Kuehne+Nagel warned of a “softening” in 2010 third quarter sea freight growth despite recording a 17% surge in maritime container volumes for the first nine months of this year.

Volatile dry bulk market keeps owners guessing

A glut of new ships coming on to the market and a fall-off in demand is playing havoc with owners’ bottom lines, writes LIZ MCCARTHY

Lack of boxes could cause flow of whisky to dry

SCOTLAND’S whisky and shortbread export supply chain is threatened by a shortage of empty shipping containers, the Freight Transport Association shippers’ lobby has warned.

Technologies may be a threat to Oz coal exports

INDONESIAN thermal coal could become more competitive against Australian coal in the north Asian markets, a leading coal analyst claims.

Dalian Port profits up despite blast

NORTHERN China’s largest port operator, Dalian Port (PDA) said net profits for the nine months ending September 30 were up 23.4% to Yuan509.2m (US$74.8m) from Yuan412.7bn in the same period a year earlier.

Port hit by second fire

DALIAN Port, the sixth-largest cargo port in China, was hit by a fire for the second time within three months when a blaze broke out on oil pipelines at the port’s Xingang oil terminal on October 24.

Environment boosts Wärtsilä orderbook

HELSINKI-listed Wärtsilä’s third-quarter results last month demonstrated some of the industry trends that are affecting both shipowners and engine makers.

G-type engine with large bore ‘will lower fuel consumption’

MAN Diesel and Turbo has revealed details of a completely new engine, its first in over a decade.

MAN opens new workshop in China for river of demand

MAN Diesel is set to strengthen its relationship with the Chinese engine-making market as it looks to enhance engineering training and start research in river engines.

Giorgi highlights plight of pirate-captured crew

IT WOULD take a 24-hour worldwide strike by shipping to bring to global attention the importance of shipping to the world economy and the plight of seafarers held captive in Somalia, Roberto Giorgi, president of InterManager and V. Ships told the Informa Ship Management Conference in Cyprus last month.

Stranded crew go home with 75% of wages

NINE crewmembers from the Panama-flagged cargoship Secure, which remains under arrest and detention in Miami, have been paid 75% of their wages due and are being provided with tickets to fly to their respective homelands.

Legal haggles over US Gulf permits remain despite end of moratorium

UPBEAT expectations have emerged from top executives at the listed drillers hosting the first group of third-quarter 2010 earnings’ calls.

US antitrust changes will spur box rate volatility

WASHINGTON-based liner shipping lobby group the World Shipping Council (WSC) has blasted plans to repeal container lines’ exemption from antitrust immunity, claiming it would lead to greater rate volatility and less predictable and less stable markets.

Maersk Line muscles into European shortsea trades

MAERSK Line is set to enter the European shortsea trades through the creation of an independent subsidiary, slated for next year.

Five Star, Cosco celebrate another big milestone

THE FIVE Star Shipping Company and Agency celebrated 30 years in business late last month. The company began operations in 1980.

CBFCA student of the year

THE 2010 Customs Brokers and Forwarders Council of Australia has awarded their Student of the Year title to Chris Yabbsley from McAleese Transport for his outstanding effort in coming top of customs broker studies at the CBFCA online college.

Benefit night in honour of colleague

A BENEFIT night will be held on Saturday, November 20, in honour of Stuart Macbeth, who passed away on April 26 this year leaving behind wife Sue and his three children. Family and friends organised the event as a fund raiser to help support his family and educate the children, Jordan, Rose and Max.