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Shipping Maritime News Update Shipping Maritime News  
RSS 6 |  Shipping Maritime News

Seaway tonnage dips
Cargo tonnage sagged in September on the St. Lawrence Seaway, according to numbers released Thursday by the Seaway’s U.S. and Canadian administrations. From the season opening March 31 through Sept. 30, total tonnage is off 35 percent, sliding to 19.2 million metric tons from 29.7 million metric tons during the same period in 2008. Shipments of
:: Read More
(Published: Sun, 11 Oct 2009 14:00:29 +0000)

Asia and Middle East trade boost Santos Port Throughput
Growing trade with Asia and the Middle East gave the Brazilian port of Santos a new monthly throughput record: of 8.3m tons in August. “Worldwide-crisis-defying” record figures for August at South America’s largest port – which handled 81.058m tons and 2.675m teu handled in 2008 – and a strong first eight months of 2008, are
:: Read More
(Published: Sun, 11 Oct 2009 14:00:28 +0000)

Busan offers new incentives for container lines
Container ships with regular services to Busan in South Korea will be allowed to delay paying port fees. The Busan Port Authority (BPA) is introducing what it is calling a 'grace period' to help shipping lines through the "extended period of economic crisis". The scheme, which runs from November 1, 2009 to October 31, 2010,
:: Read More
(Published: Sun, 11 Oct 2009 14:00:27 +0000)

Indika in talks to 4m tonnes of coal for sale, looking at BPs assets
Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its executives says. Indika investor relations vice president Retina Rosabai said the talks were still underway and no decision had been made, but refused to name the companies involved in the negotiations, or
:: Read More
(Published: Sun, 11 Oct 2009 14:00:26 +0000)

Shell May Clean Second supertankers to store diesel source
Royal Dutch Shell PLC has provisionally booked a second supertanker for floating gasoil storage, according to a person with direct knowledge of the matter. The vessel, Irene SL, which can hold as much as 2 million barrels, is dry docked in Singapore and may be the first very large crude carrier to be cleaned for gasoil
:: Read More
(Published: Sun, 11 Oct 2009 14:00:25 +0000)

Acquisition creates the largest chemical-carrier group
The world’s largest chemical tanker fleet could soon be formed as a result of an audacious bid by Berlian Laju Tankers (BLT) for the Camillo Eitzen group (CECO). According to a joint statement, BLT presented CECO with the following key terms in an indicative offer: - *Shareholders in CECO will be offered mandatory exchangeable bonds (MEB) equivalent to
:: Read More
(Published: Sun, 11 Oct 2009 14:00:23 +0000)

Greater propulsion efficiency maintained with alpha-propeller
In response to market demand for very large CP propellers up to and beyond 30,000 kW and with diameters over 8 m, MAN Diesel is expanding its propeller portfolio. Two new propeller hub-sizes have been introduced – VBS2080 and VBS2240 (2,080 mm and 2,240 mm hub diameters respectively). These propeller sizes are typically destined for
:: Read More
(Published: Sun, 11 Oct 2009 14:00:22 +0000)

Baltic Dry Index Rise Prompts Talk Of Vessel Acquisitions
The steady rise in the Baltic Dry Index, seen by many as the key indicator to world commodity trade, has prompted rises in Japanese stock prices with the Nikkei and Topix up for the third consecutive day. Shipping shares are leading the charge as the BDI continues to climb, clawing its way back after the collapse
:: Read More
(Published: Sun, 11 Oct 2009 14:00:21 +0000)

Marlink Bags ABAN Singapore Communications Contract
Maritime satellite communication provider Marlink recently signed a new five year agreement with Singapore-based offshore drilling company ABAN Singapore which includes installation of Dual Stabilized Sealink(T) antennas onboard four of ABAN's Jack-up rigs. This will equip the rigs with access to Marlink’s ‘always-on, reliable connectivity and significantly higher bandwidth,’the company said in a statement. "The installation of Sealink(T)
:: Read More
(Published: Sun, 11 Oct 2009 14:00:19 +0000)

IEA raises 2010 global oil demand forecast
World oil demand will recover at a faster pace than previously expected next year due to a more optimistic economic outlook, the International Energy Agency said. In a monthly report, the agency, which advises 28 industrialised economies, increased its global oil demand growth estimate for 2010 to 1.42 million barrels per day (bpd), up 150,000 bpd from
:: Read More
(Published: Sun, 11 Oct 2009 06:58:46 +0000)

Total Angola s oil production up to one third by 2011
Total expects to increase its oil output in Angola by at least a third over the next two years as a new offshore oilfield comes on stream, and the French oil major predicts further big rises in output. Total's vice president for exploration and production operations in Angola, Frederic Cegarra, told Reuters the new deep undersea
:: Read More
(Published: Sun, 11 Oct 2009 06:58:45 +0000)

Baosteel iron ore bid reconsidered
Baosteel Group Co, China's largest steelmaker, has been asked by the Australian government to resubmit its application to invest $240 million for a 15-percent stake in iron ore explorer Aquila Resources Ltd, the Australian media reported. According to the Australian Financial Review, Baosteel resubmitted its application as requested by the Foreign Investment Review Board (FIRB) this week
:: Read More
(Published: Sun, 11 Oct 2009 06:58:44 +0000)

The deadlock of Sino-Australian iron ore negotiations in domestic steel mills led to losses
Some research institutes said that the effort made by China to ask Australian ore makers to reduce more price did not benefit domestic steel mills, instead lift their purchasing cost. China hopes to get more beneficial price from Australian manufacturers, but its efforts backfired. The body pointed out that some steel mills in China may have
:: Read More
(Published: Sun, 11 Oct 2009 06:58:43 +0000)

Indika in talks to 4m tonnes of coal for sale, looking at BP s assets
Energy company PT Indika Energy is in talks with Indian buyers to sell 4 million tons of coal next year, one of its executives says. Indika investor relations vice president Retina Rosabai said the talks were still underway and no decision had been made, but refused to name the companies involved in the negotiations, or
:: Read More
(Published: Sun, 11 Oct 2009 06:58:40 +0000)

EU pushes for short sea shipping through new IT systems
The European Commission has propounded a boost in short sea shipping in Europe by encouraging EU member states to adopt unified modern electronic management systems. Speaking at a shipping conference in Bulgaria, Christos Pipitsoulis of the Commission’s transport and energy…Read at EU pushes for short sea shipping through new IT systemsSearch to find what
:: Read More
(Published: Sat, 10 Oct 2009 09:02:55 +0000)

Crude Oil Rises to 3-week high as the IEA increases demand Outlook
Crude oil climbed to the highest close in three weeks after the International Energy Agency increased its global consumption forecast for a third month. Oil demand is likely to average 86.1 million barrels a day next year, 350,000 barrels a day more than the IEA estimated in September, a monthly report showed. Prices fell earlier as the
:: Read More
(Published: Sat, 10 Oct 2009 04:57:58 +0000)

Chevron sees 3Q earns considerably from 2Q
Chevron Corp. says it expects its third-quarter earnings to be significantly higher than the second quarter on higher crude oil prices and gains from asset sales and tax items. The second-largest U.S. oil company said Thursday it expects about $400 million in gains related to asset sales and tax items. But the San Ramon, Calif.-based company
:: Read More
(Published: Sat, 10 Oct 2009 04:57:57 +0000)

CNOOC Said to Participate in Uganda USD5bn Oil Project
A Ugandan official recently revealed that China National Offshore Oil Corporation (CNOOC) would likely take part in a USD 5 billion oil project that Tullow Oil plc. operates in the Lake Albert region, east Uganda. In order to complete the project favorably, the oil producer headquartered in the UK expects to introduce several strategic investors. In particular,
:: Read More
(Published: Sat, 10 Oct 2009 04:57:56 +0000)

TNK-BP to spend $ 1.3 billion in refinery upgrades
TNK-BP, Russia's third largest oil company, said Friday it will spend $1.3 billion over the next five years to upgrade its refineries in Russia and Ukraine in line with new official quality regulations. Its board also approved investment of over $400 million for the initial phase of the project in Yamal, an oil- and gas-rich peninsula
:: Read More
(Published: Sat, 10 Oct 2009 04:57:55 +0000)

Angola seeks other LNG markets as U.S. Says Prices Drop, Orfao
Angola’s Sonangol SA, the state-run oil firm of Africa’s biggest crude exporter, is seeking other markets for its liquefied natural gas after prices in the U.S. fell, the head of its gas unit said. Sonangol is revising plans to ship to the U.S. most output from a $8 billion-$10 billion LNG joint venture in the northern
:: Read More
(Published: Sat, 10 Oct 2009 04:57:54 +0000)

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