Chilean port Valparaiso expects 11m tonnes in 2008

Central Chile's Valparaíso port EPV expects to surpass 11 million tonnes in cargo handling this year.

The state-owned autonomous port firm expects to see no variations in its 2008 projections, the official said, adding that the global financial turmoil has not had any effect on the amount of cargo imported and exported from the facility this year. The port, which handles fractioned and container cargo, is the highest TEU handler in the country. In January-September this year, the port handled 750,905 TEUs.
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EnCana in service after blasts

Canadian player EnCana said pipelines in British Columbia damaged in separate bombings earlier this month have been repaired and shipments on them have resumed.

A 12-inch pipe able to send 60 million cubic feet of gas a day, and an 8-inch line, moving 40 million a day, returned to service over the past few days after testing, Alan Boras, a spokesman for the Calgary-based company said. Investigators from the Royal Canadian Mounted Police continue to probe the explosions on the lines, which carry sour natural gas. The explosions happened near Dawson Creek, British Columbia, about 890 kilometres northwest of Calgary. The pipelines are in a remote region that is difficult to monitor. The company has not received any direct demands, Boras said last week. Two processing plants in the region were able to continue operations, taking gas from other lines, the company said. The second blast occurred at a junction where pipelines come from below ground for short distances. The second explosion was discovered 16 October by pipeline workers.
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Gulf Marine goes global

Shanghai: In the space of just 15 weeks a marine lube company has been established with a remarkable global reach.

Established July 15 Gulf Marine, a new subsidiary of Gulf Oil, has made a dramatic impact on the stretched lube market. With many employees who used to work at France's Total Lubmarine Gulf Marine now covers 300 ports in 36 countries and according to Caroline Huot, ceo, the firm will be covering 430 ports in 45 countries by year end. Japan and the US will be onstream by January with the company fully global covering 700 ports by the end of the first quarter 2009. Within the first 15 weeks of existence Gulf Marine has bagged more than 100 ships under contract. Barges are now in operation in Hong Kong, Rotterdam, Fujairah, and Singapore - the latter is apparently the largest lube barge in the world at 1,700 dwt.
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Shipbuilding demand slowing

A swift drop in freight rate is predicted to occur due to an oversupply of new large-sized vessels set to be built in 2009.

Demand for general-purpose vessels - such as tankers, bunkers and container ships have already dropped, and is not expected to increase. The value of steel plates, which have been contributing to heightened newbuilding prices, is also likely to fall following a decrease in raw material prices.
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