Costa Crociere seeks bidders for double conversion order Costa Crociere has put out to tender the largest conversion project ever proposed for a cruise vessel, with at least half-a-dozen shipyards showing interest in the potential $40m contract.
London fears broker exodus in face of over-regulation London shipbrokers trading in freight derivatives have warned that over-regulation could cause a multi-billion dollar exodus of those broking and marketing financial derivative products.
Hanjin Shipping turns the tide and sails back into a profit Hanjin Shipping, the world's fourth-largest container line, moved back into the black in the last calendar year with a net profit of won22bn ($18.8m), rebounding from a won38bn loss in financial year 1997.
Stolt sells tanks Stolt Tank Containers Leasing, a subsidiary of the Stolt-Nielsen chemical shipping group, has sold almost 3,000 tank containers to Transamerica Leasing.
PZM rescue plan to go ahead after end of power struggle The power struggle at Europe's largest bulk shipping company, the troubled Polska Zegluga Morska (PZM) in Szczecin, is over.
Pioneering finance package for LNG vessel An 'innovative' financing package for a large liquefied natural gas (LNG) carrier destined to haul LNG from the Middle East to India could be used as a model for future deals, ANZ Investment Bank has said.
The chasm between TV and real life continues to widen WHAT is all the fuss about? A shortage of harbourmasters and pilots? Not according to BBC TV. Its new Harbour Lights series shows the good old red-duster flying above the office of the harbourmaster of a small Dorset port. Actually, it was a very small Dorset port, full of yachts and fishing boats, but let's not be churlish. These days, any elevation of the national nautical perception is not to be sneezed at. Nor sneered at, if it comes to that.
Anger at collapse of Aarhus Flydedok Danish shipbuilder Aarhus Flydedok has filed for bankruptcy, prompting a key shareholder to accuse BG Bank of pulling the plug on the troubled yard.
MUA's 'qualified undertaking' in Newcastle THE Maritime Union of Australia has given the Australian Industrial Relations Commission qualified undertakings as far as today's loading of a shipment of mutton on board the Maunakea at Newcastle is concerned. The hearing, during which Patrick sought to extend orders obtained under section 127 of the Workplace Relations Act, was adjourned last Thursday in Melbourne until 2.30pm this afternoon in Sydney. This followed the union's move to cross examine witnesses and subpoena relevant documents.
ACCC doesn't tow HST's line THE Australian Competition and Consumer Commission has approved a price rise by weighted average of 10 per cent for towage charges in the port of Melbourne, considerably less than the 17.5 per cent sought by Howard Smith Towage. The ACCC was concerned about HST's accounting in relation to depreciation costs and ACCC chairman Allan Fels said the 10 per cent rise would "allow HST to earn a reasonable rate of return and provide users with better service".
BP-Caltex joint venture dropped BP AUSTRALIA and Caltex Australia have discontinued discussions on the possible development of a joint venture to operate their Australian refineries and associated oil supply and shipping functions. In a joint statement, BP Australia's managing director Greg Bourne and Caltex Australia's managing director Ian Blackburne, said the companies had been unable to agree on a commercial arrangement that creates value to the satisfaction of the parties. The statement said: "While these talks have now ended, each company will be taking actions to ensure the long term competitiveness of their refineries, including active participation in the development of an industry policy framework under the auspices of the federal government's Downstream Petroleum Products Action Agenda,".
MUA members resist efforts to end sit-in Members of the Maritime Union of Australia were on Friday resisting efforts by BHP Transport to end their sit-in on board the Iron Flinders at Sydney's White Bay. The seamen refused to sail the vessel for New Zealand in protest against the company's decision to pull out of the trans-Tasman trade. On Thursday, BHP Transport was successful in obtaining orders in the Australian Industrial Relations Commission which instructed the MUA, its officers and members to cease all action and allow the vessel to sail by 8pm.
Toll taking the rail road Toll Holdings' ambitions to run its own freight train along the east coast appear to have moved much closer, with the company revealing last week that talks to allow a regular service to begin had reached an advanced stage. Toll managing director Paul Little said the company had recently been given access by the relevant state access authorities to run small-length trains along the Melbourne-Brisbane rail corridor and that scheduled services with longer trains could begin this year. Revelations of the proposed east coast operation came as the company confirmed it was forming a consortium to bid for the soon-to-be privatised National Rail.
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