Hamburg Leads Foreign Trade with India
A joint delegation consisting of representatives of Hamburg’s port-related industries and the marketing organization for Finland’s transport and logistics sector, Straight-way Finland, visited the Indian port city of Mumbai this week. At a workshop organized by Port of Hamburg Marketing (HHM) and the Indo-German Chamber of Commerce (AHK), Axel Mattern from HHM, Thomas Lütje and Bernt Wegener from HHLA Container Terminals GmbH, and Werner Schulze-Freyberg from Polzug Intermodal GmbH highlighted the strong trade relations between Hamburg and the Indian sub-continent in their presentations and then detailed the range of services available for the container-handling and intermodal transport segments.
Marseilles Predicts Bulks Recovery
Cargo throughput at the Port of Marseilles-Fos to the end of November was marked by sustained growth in container and liquid bulks traffic, while passenger numbers continued to be boosted by the cruise sector. In contrast, oil and dry bulk volumes fell by a combined five million tonnes compared with the first 11 months last year to leave the cargo total down 4.3% for the period on 87.9MT. The port authority says that 2008 throughput should recover to the 2006 level of more than 100MT as the Fos Cavaou methane terminal, a second Arcelor-Mittal steel foundry and the Cap Vracs clinker and cement works come on stream. Among the 2007 high spots, January-November container traffic rose 4.5% to almost 908,000 teu, with east-west trades via Fos up 8.1% on 647,000 teu.
Ship Loading Indiana Steel For Export to Spain
About 11,000 tons of Indiana-made steel will set sail for Spain. The Julietta arrived at the Port of Indiana-Burns Harbor and was being loaded with hot-rolled steel coils from Mittal Steel in East Chicago, Ind. This is the first export shipment of steel through the Port of Indiana since 2005. There were a few export steel shipments between 2003 and 2005 – just over 55,000 tons total. In 1995, the port handled an all-time high 243,000 tons of exported steel. The shipment is destined for Pasajes, Spain. Federal Marine Terminals, which serves as the port’s general cargo stevedore, will load the vessel today and tomorrow. Since the Port of Indiana also has year-round access to the inland river system…
Maersk to Sell Oil, Gas Exploration Licenses
Maersk Oil and Gas, a unit of Denmark's AP Moller-Maersk A/S will sell its exploration licenses in a number of countries and concentrate its activities in the Kerr McGee operations in the North Sea, a financial daily reported. The newspaper said a prospectus by investment bank Tristone Capital lists Maersk licenses in Morocco, Surinam, and the German part of the North Sea as being up for sale. It also writes Maersk is in talks to sell part of an exploration license in Turkmenistan to the Indian company OMEL, a joint venture between Oil and Natural Gas Corp. Ltd. (500312.BY) and Mittal Steel Co. (MT). Source: Rigzone
Daewoo Shipbuilding Shares Surge on M&A Talk
South Korea's Daewoo Shipbuilding and Marine Engineering Co. shares rose as much as 6.7 percent on August 3 after a local newspaper said steel maker POSCO Co. Ltd. was interested in buying the shipbuilder. South Korea aims to sell a controlling stake in Daewoo, the world's second-biggest shipbuilder, in the second half of 2006. State-run Korea Development Bank and government restructuring agency KAMCO own a combined 50.6 percent stake, valued at more than $3b according to current market prices. POSCO, which is slated to become the world's number four steel maker once Mittal Steel's takeover of Arcelor is completed, has been facing falling margins due to weak steel prices in a market awash with Chinese supplies, Reuters reported. Daewoo had a $7.93m net profit on sales of $4.8b in 2005.
