Archive for January, 2010
UN group of nations says most ships hijacked by pirates ignored safety precautions
piracy
Piracy experts said that most of the hijacked ships off the coast of Somalia had ignored safety precautions, and at least 25 percent of the commercial ships that pass through the Gulf of Aden continue to do so. An informal band of nations and organizations fighting piracy along Somalia’s vast and lawless coastline vowed to [...]
MOL FORECASTS BETTER YEAR
Major Japanese shipowner Mitsui OSK Lines (MOL) has revised it profit forecast for fiscal year 2009, ending 31March, as its main markets show signs of recovery. MOL now expects profits of Yen5bn (US$55.5bn) for Fiscal 2009, up 150% from its previous estimate.
The company says: “The dry bulker market is expected to hold steady thanks to China’s [...]
Dry bulk market enters 2010 on positive note
Dry bulk market started 2010 exactly as it began back at the beginning of 2009, with a bullish stance with renewed cargo interest. As a result, the Baltic Dry Index (BDI), a benchmark which tracks the cost of hauling commodities like iron ore and coal in dry bulk carriers, has risen by 8.8% or 265 points [...]
“PIRATE MOTHER SHIP” SPOTTED
The US Office of Naval Intelligence has warned of a possible mother ship lurking around the entrance to the Red Sea.
In a warning to merchant ships the ONI says: “Possible mother ship activity noted near position 13:08N - 056:56E (approximately 153NM east of Socotra Island, Yemen) on 26 January 2010 at 1128Z.”
ONI adds: “Mariners are [...]
DOZEN SHIPS STUCK IN PORT ARTHUR
The US Coast Guard says that numerous vessels remain unable to transit the Sabine/Neches waterway due to its continued closure of the following last Saturday’s oil spill from the Eagle Otome at Port Arthur, Texas.
According to a statement yesterday, 27 January, 14 vessels await entry and 12 vessels are waiting to depart while 70 additional [...]
Shipping firms lobby Indian government
container
Global container shipping firms are lobbying with the government for exempting voluntary discussion and vessel-sharing agreements between carriers from India’s anti-competition law, the Bharat Observer reported. The economics of container shipping service in India calls for a regulated system of carrier discussion and vessel-sharing groups to provide reliable services at reasonable and predictable prices to [...]
Report on scrap ships in 3 weeks
ship-building
The High Court yesterday directed the government to submit a report within three weeks on the number of ships imported for scrapping after the HC delivered a verdict in this regard on March 17 last year. The court also asked the government to state in the report how pre-cleaning of these ships outside the territory [...]
Global financial crisis rocking the boat for shipbuilders, analysts say
ship
Although China’s shipbuilding industry reported a gross output value growth and received the most orders in the world in 2009, analysts said it still faces gloomy prospects in the next few years. Shipbuilding saw a gross output value of 548.4 billion yuan ($80.34 billion) in 2009, a 28.7 percent increase year-on-year, but the growth rate [...]
Dales Marine expands facilities
ship
Aberdeen-based ship repair and maintenance specialist, Dales Marine Services, has expanded its operations on Scotland’s east coast with the lease of a dry dock at the Port of Leith and a workshop at Montrose, in order to service growing demand in the sector.
Taking on the operation of the Imperial dry dock at Leith on an [...]
Marine Underwriters Face a Soft Market Following Stormy Economic Conditions
cargo
With a combination of abundant capacity and weakened international trade, marine underwriters are looking at dim prospects for strong premium rates in the coming year. Brokers report freight rates are down as much as 75% due to the global recession. At the same time, abundant capacity in the sector is getting even more abundant. As [...]
