VLCC spot rates on most routes softened slightly last week as charterers held back on the January programme on expectations of ample tonnage. Most brokers were reporting MEG-East and MEG-West voyages around WS 80 and WS 50 respectively, down one or two points from the previous week. According to Gibson, charterers were waiting to secure final confirmations from suppliers and “once received, availability looked plentiful enough to still keep the majority [of charterers] from showing interest.

Posted by: Admin on Friday, December 26, 2008 - 12:00 PM
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A Chinese naval task force left a military base in the southern city of Sanya on Friday to take part in international efforts to combat Somali pirates in the Gulf of Aden, RIA Novosti reports. The two destroyers, Wuhan and Haikou, and the support ship Weishanhu have about 800 crew members, including 70 soldiers from the Chinese navy's special force, and are equipped with two helicopters, missiles, cannons and light weapons, Xinhua news agency said. A Chinese Defense Ministry spokesman earlier said that their mission was to protect Chinese commercial shipping passing through the area.

Posted by: Admin on Friday, December 26, 2008 - 10:59 AM
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The government commission for stabilizing the Russian economy has approved a list of strategic enterprises entitled to government support, press center of RF Government reports.

Posted by: Admin on Friday, December 26, 2008 - 09:42 AM
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In London, the February Brent Crude contract was up $1.04 on December 25 to $37.65 per barrel on the ICE Futures exchange. Light Sweet Crude for February delivery climbed $1.11 to $36.46 on the New York Mercantile Exchange, Finmarket reports.

Posted by: Admin on Friday, December 26, 2008 - 09:16 AM
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DB Schenker has completed the acquisition of the Romanian freight forwarding company SC Romtrans SA by registering the company with the Romanian Trade Registry.
DB Schenker had recently acquired more than 99 per cent of the Romtrans shares based on the takeover bid submitted to Romtrans shareholders through Schenker & Co AG, Vienna. As a result, the Romanian forwarder is now a part of DB Schenker's international transport-logistics network.

Posted by: Admin on Friday, December 26, 2008 - 08:37 AM
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