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| SEPTEMBER 6, 2005 |
Shipping News
- Marsh sets up marine, energy practice here
THE world's largest insurance broker and risk adviser, Marsh Inc, is establishing a new combined marine and energy practice in Singapore as the Asian underwriting market becomes an increasingly important force alongside the bulwark London market.
- Katrina may drive up petrol tanker rates further
THE cost of shipping refined oil from Europe to the US may rise this week after Hurricane Katrina disrupted oil production along the Gulf of Mexico coast, boosting US imports of petrol.
- Hurricane to reduce earnings this year, says Carnival
CARNIVAL Corp, the world's largest cruise operator, said Hurricane Katrina will reduce earnings by as much as three US cents a share after the company cancelled and curtailed voyages.
- N-submarine, cargo ship collide in Gulf
- P&O names Michael Gradon to run Gateway port projects
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| SEPTEMBER 6, 2005 |
- Xiamen to invest US$1.79bn in port expansion project
- Guangdong becomes China's largest wine and spirit importer
- POAL suffers drop in earnings in FY05
- BNSF Railway digs deep into pockets for hurricane Katrina victims
- Erlianhaote Jan-July trade up, Huoerguosi's down
- NYK arranges charity cruise to mark 120th anniversary
- Singapore Airlines to offer extra flights from October
- Philippine Airlines names execs to board
- Continental staff rush to the aid of hurricane victims
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| SEPTEMBER 6, 2005 |
- MOL promotes 2 men of mettle
- Shipping industry fears FBT may chip away tonnage tax benefits
- Accord Shipping Agencies launches break-bulk services
- Petronet plans to boost Dahej LNG terminal capacity
- Yang Ming Line and Evergreeen to launch new Asia service
- FEFC to raise BAF in Oct.
- Maersk Sealand to impose port security charge on China shipments
- COSCO jumps to world’s No. 2 shipping company
- Evergreen Marine posts 20 pc rise in Q2 profit
- Congestion surcharges to be raised on Asia-West Africa trade routes
- Shandong Yantai’s 1st service
- Precious Shipping sees record 2005 profits
- Few takers for imported edible oil leads to pile-up at ports of entry
- Cashew exporters poised to cash in on stalled Brazilian, Indonesian crops
- Leather Goods Park in Kolkata holds promise for eastern region exporters
- Gangavaram port finances tied up
- CONCOR plans to spend up to Rs 1,500 cr. over 5 years on wagon purchases
- Forex reserves dipped by $ 1,157 million to $ 1,43,218 million
- AP govt allots 11,000 acres for ONGC to set up refinery, SEZ in Kakinada
- Forex reserves swell again
- I-T Act 1961 to be rewritten in more compact manner
- White sugar exports allowed
- Service tax target well within reach, says DGST
- AEZs lethargy factors being listed for action plan
- NMCC draft focuses on 13 areas for growth of manufacturing sector
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| SEPTEMBER 5, 2005 |
- Rudatis leaving port of Lübeck
- Cosco expecting container volumes to double
- France and Belgium publish black sheep list
- Increased efforts to prevent toll-avoidance in Germany
- "Packstations" on the increase in Germany
- Singapore and India sign cooperative agreement
- Maptuit teaming up with Siricomm
- Moscow WTC stage for Fiata World Congress
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| SEPTEMBER 5, 2005 |
- SPT avoids Katrina and carries on
- Cruise ships used for emergency accommodation
- Lower Mississippi partially re-opened
- New Med feeder line
- UK coastguard tug grounds, spills oil
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| SEPTEMBER 5, 2005 |
- Port of New Orleans: "Damaged but still workable"
- Gulf coast yards continue restoration efforts
- Tanker cargo transfers back to pre-Katrina levels
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| SEPTEMBER 6, 2005 |
- Jones Act waiver to last 12 more days
THE suspension of the Jones Act, invoked in the aftermath of Hurricane Katrina, will end at midnight on September 18, a longer timeframe than expected.
- Katrina blows cold for ports and terminals premiums
OPERATORS of ports and terminals worldwide are likely to be asked to stump up more in insurance premiums when they come to renew cover, as a result of the damage wrought by Hurricane Katrina.
- Cruiseships drafted in for hurricane relief work
THE US Federal Emergency Management Agency has chartered four cruiseships to house evacuees whose lives were dislocated by Hurricane Katrina, writes Rajesh Joshi in New York.
- Greece pledges two vessels for aid effort
GREECE has pledged two cruiseships for accommodating victims of Hurricane Katrina within a package of aid for the US announced yesterday by the country’s Ministry of Foreign Affairs.
- MCA red-faced as tug mishap causes oil spill in Shetland Isles
A MARITIME and Coastguard Agency tug smashed into rocks in the Shetland Isles at the weekend, spilling an estimated 200 tonnes of fuel oil.
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| SEPTEMBER 5, 2005 |
- Silja begins ferry restructure
FINNISH ferry operator Silja, part of the Sea Containers group, has pulled two ferries from service as part of a restructuring of the entire group’s ferry operations
- Emergency tug runs aground
THE UK emergency towing vessel Anglian Sovereign is being inspected by divers today after running aground yesterday evening on the island of Oxna
- Fincantieri may go public next year
FINCANTIERI chief executive Giuseppe Bono says the Italian state-owned shipbuilding group could go private in 2006
- Maintenance work at Gatun Locks
DUE to the low number of arrivals this month, maintenance work has been scheduled at Gatun Locks from 5-9 September
- Red is no fantasy for Color
RISING bunker expenses, increased depreciations and a fall in the number of passengers carried dragged Color Line to a NK51M loss in the first half
- US Gulf ports operational status
PORTS along the US Gulf and in the lower Mississippi River are reporting a slow return to activity after Hurricane Katrina
- Toxic gas kills cruise crew members
- NYK lands Brazil-China ore contract
- Nuclear sub scrapes bulker
- Reserve ships sent to Katrina area
- Delmas deal now 'imminent'
- Powerful typhoon heading for Japan
- P&O Cruise's Pacific Sky refloated
- Richards Bay helicopter lost
- Carnival ships join Katrina effort
- Pemex tax breaks vetoed
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| SEPTEMBER 5, 2005 |
- Potential partners stick to their statements, while market builds possible case
Exel and Deutsche Post (DP) are both sticking to their first statements on possible takeover negotiations with ‘no certainty as to the outcome’, but the stock-market is far from quiet.
- China reaches textile agreement with EU in latest talks
Chinese minister of commerce revealed today that China and the EU had reached an agreement in the latest round of textile negotiations this weekend, but nothing had been signed yet.
- CMA CGM completes ‘complementary’ deal with Bollore Group assets
- Chinese shipping companies enhancing Japan/China service
- China becomes EU's second-largest top trade partner
- Fesco trims sails toward full-year profit growth, despite heavy H1
- Busan Port takes safety measures for typhoon
- Yakunin: Trans-Sib could push for a million
- New CFS between Chennai and Ennore Ports opened
- P&O names Gateway chief
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| SEPTEMBER 5, 2005 |
- CMA CGM takes third spot
French container line adds 49 vessels to fleet as it completes $600m acquisition of Delmas.
- Denholm trebles profit
Oldest Scottish shipping group boosted by sale of port agency stake to Wilh Wilhelmsen.
- Sea Containers cancels newbuilds
Letter of intent at Aker allowed to expire as stretched ferry group puts Silja renewal on hold.
- Oceanwide moves into Denmark
Dutch crewing agent buys two-man Haraship Manning operation in Frederikshavn.
- Money for Murmansk
Russians will pump $2.5bn into Arctic port to transform oil export capacity.
- Sub hits bulker
No injuries reported after incident involving US navy vessel and Turkish ship off Bahrain.
- GO waits for strong market
London-listed bulk operator fixes short-term charter in anticipation of higher rates to come.
- SPT back on track
US shuttle tanker operator lost “very few” days to Katrina, with crews and ships safe.
- Fleet growth pays for Pacific Basin
Hong Kong bulker owner doubles first-half profit following IPO-inspired growth.
- OMI ships out Pecos
US owner sells suezmax to K/G company fronted by Papachristidis group.
- Carnival charters to FEMA
US cruiseship giant commits three vessels to Katrina relief efforts for six months.
- AF Klaveness sues former boss
Norwegian owner claims Leif Johannes Jernaes acted disloyally.
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| SEPTEMBER 5, 2005 |
- MR tonnage at WS 430 to the US
Reported fixtures of 37,000 tonnes gasoline cargoes are now done at WS 430 or more, nearly WS 200 higher than ...
- Carnival offers vessels to "Katrina" refugees
Carnival Cruse Lines has already responded to a request by US authorities to find 25,000 berths to house victims of ...
- Tallink starts Stockholm-Riga service
Tallink will start a new service between Stockholm and Riga on 10 January. Last weak an agreement was according to ...
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| SEPTEMBER 5, 2005 |
- New Orleans supplier weary, but operational
One week after Hurricane Katrina tore through New Orleans, one local supplier relives the chaos as his company completes first delivery since the tragedy.
- Bunker broker KPI supports Katrina relief effort
KPI Oil will give a 'generous donation' to help the relief operations in New Orleans.
- Panama suppliers: Resupply costs set to take toll
Bunker prices in Panama finally start to firm closer to regional levels after staying low last week.
- Marine lube oil crisis going global?
Damage caused by Hurricane Katrina may have turned a localised supply problem centred in Singapore into a global crisis.
- Post-Katrina refinery outlook improving
White House official says Gulf Coast refining could be back on its feet faster than expected.
- Sri Lanka bunkering project a ‘priority development’
The government-sponsored development of Hambantota, on Sri Lanka’s south coast, faces stiff competition from a rival Indian project in the north east.
- Return of Pelorus ‘a show of confidence’
Luxury yacht belonging to Russian tycoon and Chelsea FC owner Abramovich returns to same supplier that allegedly sold 'wrong fuel' last month.
- Japan: Bunker demand weak, typhoon approaches Kyushu
Japanese bunker traders lament extremely weak demand, while a powerful typhoon heads toward Kyushu.
- Oil prices extend retreat
Oil prices extended last week's retreat by slipping more than $1 on Monday following news of European nations and Canada agreeing to release emergency oil reserves.
- SK Corp inks deal to acquire Inchon refinery
SK Corp has signed MOU to acquire Inchon Oil Refinery and subsequently boost its exports into China.
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