News From Lloyd's List DCN

McLeay quits over viewing porn and gambling on work computer

Paul McLeay, the Ports Minister of New South Wales, has resigned after admitting to the Premier Kristina Keneally that he had been using a Parliamentary computer to visit gambling and adult websites.

EU to probe International Group P&I agreements

An anti-trust investigation into the practices of the protection and indemnity (P&I) market and the International Group has been launched by the European Commission.

NATO forces foil pirates attack on cement carrier

Military forces from Japan, Denmark, Italy and the US saved a cement carrier from hijack by Somali pirates last Sunday.

Intertanko names new managing director

Tanker industry group Intertanko is to nominate Joe Angelo to replace its current managing director, Peter Swift, when he retires at the end of the year.

Brokers defend use of box derivatives

Two leading freight futures brokers have vigorously defended container freight derivatives against recent criticisms from several leading liner operators.

Port charge to raise $1bn for infrastructure: Pallas

The Freight Infrastructure Charge to be introduced at the Port of Melbourne will contribute up to $1bn towards transport infrastructure over the next decade, Victorian ports minister Tim Pallas says.

Darwin Port upgrades vessel tracking system

Darwin Port has introduced a new $150,000 ship tracking system to monitor movements in and out of the harbour.

Swire flags equipment surcharge on Asian route

Swire Shipping is to hit customers Asian trade customers with a US$250 per teu equipment surcharge from next month, citing the global container shortage and higher costs for new boxes.

Neptune confident despite profit battering

Energy project delays and deferrals in key overseas markets in the past year have decimated the profitability of offshore engineering services firm Neptune Marine Services.

Cosco chief's warning on fleet expansion

China Cosco Holdings executive vice-president Sun Jiakang has urged container lines to take a conscientious stance on the issue of fleet expansion, given that the market is only just beginning to recover.

Global fleet expansion picks up pace

Global boxship fleet capacity is reaching key milestones far more quickly than in the past, as the full impact of the recent ordering boom starts to be felt. In only nine months, capacity rose by 1m teu to 14m teu, the latest Alphaliner data shows.

Recovering Hapag-Lloyd eyes bond issue

Hapag-Lloyd is planning to issue a €500m (US$631.6m) corporate bond within the next few weeks in a move that will see it waive the right to state guarantees worth €1.2bn.

Maersk chief expects further consolidation

Another round of merger and acquisition activity in the container shipping industry could begin once the freight trades return to more normal conditions, but industry leaders say the whole process may take longer than they had originally anticipated.

Tax charge sees Asciano's result worsen

Ports and rail operator Asciano's net loss in 2009/10 widened to almost $1bn due to a significant tax impairment charge and a weaker performance by its container ports division.

Crude carrier recovery dependent on US, Europe

Owners of suezmax tankers can expect a slow recovery in chartering markets over the next two years as the majorioty of demand for the crude carriers comes from the US and Europe, where fears loom of a slowdown in the economic recovery.

Cosco's port operations first half profits surge

Net profits at Cosco Pacific, the port operating affiliate of China Ocean Shipping Group, grew 81.7% year-on-year to US$189.9m in the first half.

Maersk joins detractors of freight swaps

Maersk Line chief executive Eivind Kolding has stepped up the war of words against freight derivatives with a stark warning that a paper market would damage the container trades by exacerbating price swings.

Evergreen pulls the plug on 12 boxships

Evergreen Marine, the world sixth largest container line, has ended talks with South Korea’s STX Offshore & Shipbuilding on an order of 12x8000 teu containerships after negotiations on price failed.

Indian port complex to reopen after collision

India’s main container port complex was set to reopen yesterday, more than two weeks after a collision between a boxship and a bulker forced the shutdown of both Jawaharlal Nehru and Mumbai ports.

ACL to utilise 'prison boxes' for stowaways

Atlantic Container Line will soon be able to keep stowaways under lock and key when it takes delivery in a couple of weeks of five containers converted to temporary prison cells.