News From Lloyd's List DCN

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.

Chinese yards set for major slowdown

Qian Jianping, deputy manager of China Shipbuilding Industry Corp, has warned that China’s yards will face a major slowdown in two to three years, burdened by its recent expansion in shipbuilding capacity.

Swire adds AQIS charge for SoPac boxes

Swire Shipping is to levy a quarantine inspection surcharge on all containers destined for South Pacific destinations from early next month.

PoMC markets stakeholders on future growth

The Port of Melbourne Corporation has begun a consultation process to gauge industry and community views on how to handle an expected increase in container freight throughput.

NOL commits to 10,700 teu newbuild pair

Neptune Orient Lines has confirmed its commitment to slow steaming by signing a contract for two 10,700 teu boxship newbuildings that will add to a series of eight vessels of similar size already on order.

Chinese owners seek to join Baltic Exchange

The China Shipowners’ Association has applied for membership to the Baltic Exchange for the first time.

India’s iron ore exports up 14.5%

Indian iron ore exports rose by 14.5% in the second quarter to 28.07m tonnes, steel minister Sai Prathap told lawmakers, Reuters reports.

Albanese flags fiscal reforms for Australian shipping

Tax incentives for ship operators and a focus on training Australian seafarers were among a raft of measures announced by Federal transport minister Anthony Albanese today in an effort to revitalise the national shipping industry.

Chinese port coal stockpiles causing concern

Chinese buyers are seeking to defer the delivery of prompt thermal coal shipments by at least a month, citing high stockpiles at the country’s ports.

Wilhelmsen volumes rise but still falls into red

Oslo-listed shipowner Wilh. Wilhelmsen volumes increased 32% in the first half of the year as it noted the first signs of a market recovery but the result was not enough to prevent a first-half loss.

Owners face refinancing of ‘wall of debt’

Shipowners face fresh challenges to refinance a “significant wall of debt” amounting to “multiples of billions of dollars", looming between 2012-2015, says the global head of Deloitte’s reorganisation services.

Fremantle downplays dredging concerns

Fremantle port has downplayed concerns raised in national media over water clarity issues associated with the phase 2 of their dredging project.

Inventory costs hurts Chemoil performance

Bunker fuel supplier Chemoil Energy said yesterday that its second-quarter net profit dropped 72% from a year earlier, as higher inventory expenses offset higher revenue while the wholesale-retail spreads remained subdued.

Sydney terminal protest on Sunday

A protest by local residents against a Sydney inland box terminal will be held on Sunday.