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| JUNE 27, 2008 |
Shipping News
- Exxon spill damages slashed to US$500m
Nearly two decades of legal battles over the Exxon Valdez oil spill came to an end on Wednesday when the US Supreme Court slashed the punitive damages imposed against ExxonMobil from US$2.5 billion to US$500 million.
- HK may favour shipping lines for container terminal
Hong Kong may favour shipping companies over port operators when awarding the rights for a planned container terminal to help secure traffic as competition from cheaper mainland harbours mounts.
- Carribbean still top cruise destination: poll
The Caribbean remains a top destination among cruisers, and more are bringing their children along for the journey, according to a new survey by the Cruise Lines International Association (CLIA).
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| JUNE 27, 2008 |
- Grand Alliance, TNWA team up on Asia-Black Sea service
- OOCL to operate new Indonesia-Malaysia (IMS) service
- United Arab Shipping Company takes delivery of 6,919-TEU Al Manamah
- CMA CGM, CSCL's FAL 4/AEX 8 loop to start in July
- US congressional committee witnesses differ on anti-conference reform
- Indian Ocean services expands with H&H Red Sea, East African loops
- Consortium begins offshore terminal work at Mumbai Port
- Agility supports WEF's Global Enabling Trade Report 2008
- High fuel and weak US economy plunges FedEx into loss
- Taiwan's China Airlines, China Southern sign new memorandum
- Role model for women pilots found dead on railway tracks
- Continental clinches OAG's best North American airline accolade
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| JUNE 27, 2008 |
- Hajara to judge India Shipping Summit Awards
- UASC takes delivery of 5th of 8 A7 boxship from Hyundai
- Slow steaming saves 10 pc fuel for Cosco
- CII delegation to explore opportunities to double investments in US
- Deals signed to open up Myanmar for Indian investments, energy expertise & trade
- CII inks deal with UK's WMG group for joint research in various fields
- Chennai Port's turnover soars by 115.3 pc in 5 years
- Tuticorin Port Trust proudly holds up performance report for Baalu
- Rlys plans to hike freight rates from July 1
- NF Rly hauls more freight in April-May
- Another 1st by CKB
- More infotech cos take firm root in Kerala
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| JUNE 26, 2008 |
- Exxon Valdez damages cut
- Frontline raises $210m
- FLC yards purchase "in July"
- Imarex's busy first week of BDI trading
- Ceylon Shipping JV acquires suezmax tanker
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| JUNE 26, 2008 |
- India's ABG wins order for three ROV support vessels
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| JUNE 26, 2008 |
- East D Street overpass officially open in Tacoma
- Coast Guard marks opening of National Maritime Center
- Port of Seattle names winners of Sea-Tac Fly Quiet awards
- Corps sets informational meeting to discuss Columbia Mouth dredging
- Horizon Lines vessels earn safety honors
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| JUNE 26, 2008 |
- Tui wants to keep Hapag-Lloyd name
PROSPECTUS states that the trademark will only be available under license from Tui.
- NOL targets up to $7bn in readiness for move on Hapag-Lloyd
- Pacific lines open talks with US exporters
TEMPERS fray amid box shortages and long wait for space on Asia-bound ships.
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| JUNE 26, 2008 |
- Clarksons settles with Sovcomflot
CLARKSONS has settled in the case brought against it by Sovcomflot and Novoship, costing the broker £27M (nearly $54M)
- SCI bulker curse strikes again
A SHIPPING Corp of India bulker that has suffered two major incidents in Australian waters in seven years has been involved in a third and fatal accident
- Damages predictable from Valdez case
THE Supreme Court's decision on the Exxon Valdez has created more liability 'predictability' for damages
- Herma invests $2M in yard
PHILIPPINE-based shipbuilder Herma Shipyard plans to spend PhP100M to upgrade its yard facilities in preparation to build bigger ships
- Cebu Princess ferries the dead
THE Cebu Princess, one of Sulpicio's ferries still at sea since authorities stopped them after the Princess of the Stars disaster, has been allowed to operate as a depository for retrieved bodies
- Dry bulk boom to continue
KOREAN shipping company CEOs believe that the dry bulk shipping market will be strong until at least 2010, despite the recent BDI adjustment
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| JUNE 26, 2008 |
- ILWU, PMA race deadline for new pact
Negotiators for employers, longshore union pick up pace of bargaining as Tuesday's contract expiration deadline approaches.
- US doles out big fines in air-cargo probe
- 'Rotterdam Rules' to replace Cogsa for cargo liability
- Tacoma overpass project speeds rail, motor freight
- U.S. to lift N. Korea sanctions
- Three more ports for TWIC
- Palm Beach hires Almira from Port Everglades
- Zuniga elected chairman of international brokers
- Canpotex chooses Prince Rupert for potash hub
- Strike idles French ports
- Fenway buys warehouser Preferred Freezer Services
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| JUNE 26, 2008 |
- French ports braced for further strikes
- Tacoma drops Maytown plans
- FEFC westbound YTD stuck at 10% growth
- Brazilian truckers wind up the pressure with 24-hour strike
- Czech and Slovak railfreight to merge
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| JUNE 26, 2008 |
- Poison pill set
Arlington Tankers has been looking for buyers, and now it protects itself from a hostile takeover.
- No Fulford factor
Chairman Tim Harris says exit of former chief exec not a condition of today's settlement with Sovcomflot and Novoship.
- ADIC wins appeal
Abu Dhabi Investment Co awarded full amount in $80m fraud claim against Norasia.
- Top liquefies
Analyst says Pistiolis-led owner's move to sell off five suezmax tankers "solidifies the company's liquidity profile".
- Hose sparked fire
Australian investigators blame a fire aboard the Baltimar Boreas on a fuel hose that leaked diesel oil.
- Case closed
Clarksons sees long-running legal spat with Sovcomflot and Novoship ended but at what cost?
- Give him Marpol
CLIA urges senators to send the pollution annex to US President George Bush soon, so the US has a say in October.
- Big issue
Owner and yard group Cosco Corp could sell $1.2bn of ADRs equal to another 22% of the company.
- Mystery solved
Greece's Angelicoussis group behind order for three VLCCs at Daewoo in Korea.
- Ballast check
Join the US Coast Guard on a ballast water inspection in Montreal.
- Pakistan plea
Shipping union wants government help to revitalise domestic industry.
- No quick-fix
Deep Sea Supply ties up 170 ton bollard pull Sea Jaguar on long-term deal with ENI North Africa.
- No clash for Titan
Restructuring plan rouses investors as shipowner's share price surges by nearly a third.
- Navios fills gaps
New acquisition unit can pencil $220m onto its first cheque after parent firms up IPO details.
- Silent death
Fitter on Komrowski containership fell to death in cargo hold 'without a scream', company says.
- Fast Fredriksen
Tanker tycoon doesn't pause for breath as $210m private placement is completed in double-quick time.
- Handy for Mipo
Middle Eastern owner pens $290m order for seven 36,000-dwt units at Hyundai Heavy unit.
- End in sight
Aker Yards to complete deal to sell three yards to FLC in July, with Ukraine antitrust process delaying matters.
- OW goes north
Danish bunker supplier opens most northerly source of low sulphur fuel, in Faroe Islands.
- Freddy's back
EMS scales down its private placement in a move to give Seven Seas boss Sidhwa a $5m stake.
- Two more
STX of Korea adds another chemical carrier double to its orderbook.
- Master in frame
Bulgarian authorities target Navibulgar captain and crew after oil spill from bulker at Varna.
- Titan to cut back
Hong Kong group to cut supply chain activities and focus on shipbuilding and oil storage.
- Long haul
Recovery of bodies from Princess of the Stars could take a month.
- Volumes grow
Talk of cyclical downturn looks premature as NOL sees container throughput jump.
- Toisa inks ABG trio
Gregory Callimanopulos' support vessel operation orders newbuildings at Indian shipyard.
- GMV profits soar
Panamax sale helps push up full year figures at Malaysian venture capital fund.
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| JUNE 26, 2008 |
- Supreme Court slashes Exxon Valdez fine by $2 billion
- FEFC carriers see 11.4% westbound growth in May
- APL continues to shine
- Ship released by Somali hijackers
- Presti to represent TIACA in Washington
- Velocity Express faces stock delisting but wins contract
- Polzug Intermodal opens rail terminal in Wroclaw, Poland
- USDA enters agricultural trade cooperation with the Philippines
- Beef exports to Korea back on, but with quarantine provision
- BDP acquires majority stake in Indonesia joint venture
- Famous Pacific Shipping appoints agent for Czech Republic
- Zuniga takes on second chairmanship
- Monaco to lead Shipco's business development in Canada
- Vietnam port delays problematic, says OOCL exec
- Tacoma project improves rail access
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| JUNE 26, 2008 |
- Amiya Scan freed after 31 days of capture
The hi-jacked Amiya Scan, which has been held off the coast of Somalia has been freed and is on its way bound for Suez under its own power. The ship, its cargo and the crew of four Russians and ...
- Exxon Valdez fine lowered
The US Supreme Court cuts the Exxon Valdez fine ' the oil company Exxon now has to pay USD 500 million in punitive damages instead of USD 2.5 billion. The first court decision, made by the federal court in Alaska ...
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| JUNE 26, 2008 |
- New 'Clean Shipping Index' launched
Ships need to meet criteria beyond current regulations to gain certification.
- Global bunker market report
- Players warns of tank storage shortage
Singapore trader predicts markets could soon see 'distressed' fuel oil cargoes.
- Lack of spot avails in Durban, Richards Bay
Traders anticipating improvements by mid-July.
- New 'real-time alarm system' from Kittiwake
Technology can detect ingress of fuel cat fines and other potential sources of engine failure.
- Latest fuel oil futures contract met with scepticism
Player says plan to turn Hong Kong into oil hub will fail if it tries to match Singapore.
- Rotterdam market slumps slightly
- Singapore bunker prices soften
Bunker prices soften following crude oil price, traders say.
- North Atlantic bunker station opens next month
O.W. Icebunker to offer low-sulphur ex-pipe deliveries from terminal in the Faroe Islands.
- Ship crew blamed for Varna bunker spill
Authorities say 250 litres of fuel oil leaked into the sea from the Adalbert Antonov.
- Singapore residual fuel stocks up 16%
Fuel oil stocks up on weakened Chinese demand.
- Titan's share price jumps 20%
Shares surge following restructuring plans and HKMEx, Warburg Pincus investment hopes.
- Analyst: $200 oil will lead to global recession
Rising demand and slowing supply growth likely to support high crude oil prices.
- Total Lubmarine names Faisal as supplier
Pakistan's biggest bunker supplier clinches marine lubes distribution rights from French oil major.
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