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Higher war risk premiums for Malacca Strait vessels
INCREASING numbers of insurers have begun charging additional war risk premiums for vessels using the Malacca Strait, according to a senior marine insurance executive who urged shipowners to closely examine their hull and P&I policies to ensure they are covered.
MISC in talks for Indian joint ventures
MALAYSIA International Shipping Corp Bhd is in talks with parties in India to set up a liquefied natural gas joint-venture shipping company and another one for the transportation of crude oil, says a report in Malaysia's Business Times.
Clarkson's profit surges in H1
CLARKSON, the world's largest shipbroker, said first-half earnings more than doubled as the company opened offices worldwide.
Hyundai Heavy wins US$1.25b Kuwait order
Disturbing impact

Port Shots

Port Shots
NORWEGIAN shipbuilder Aker Yards said on Tuesday that its Helsinki yard would shift to focus on building ferries, away from cruise ships.

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Shipping News

Higher war risk premiums for Malacca Strait vessels
INCREASING numbers of insurers have begun charging additional war risk premiums for vessels using the Malacca Strait, according to a senior marine insurance executive who urged shipowners to closely examine their hull and P&I policies to ensure they are covered.
MISC in talks for Indian joint ventures
MALAYSIA International Shipping Corp Bhd is in talks with parties in India to set up a liquefied natural gas joint-venture shipping company and another one for the transportation of crude oil, says a report in Malaysia's Business Times.
Clarkson's profit surges in H1
CLARKSON, the world's largest shipbroker, said first-half earnings more than doubled as the company opened offices worldwide.
Hyundai Heavy wins US$1.25b Kuwait order
Disturbing impact

Port Shots

Port Shots
NORWEGIAN shipbuilder Aker Yards said on Tuesday that its Helsinki yard would shift to focus on building ferries, away from cruise ships.

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Singamas' H1 container manufacturing turnover shoots up 72pc Maersk to impose port security charge Shandong Yantai begins new South Asia liner service FEFC to raise BAF in October HPH invests in terminal in Thailand Evergreen unit offers Tacoma service Congestion surcharges to be raised on Asia-West Africa trade routes Hefei to build 1,000-tonne container berth H1 Cargo tonnage of Air Macau, Dragon Air jumps 72, 22pc, respectively Qantas to set up Sydney engine maintenance hub Air NZ FY05 profits up 8pc

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New orders projected to increase global container shipping capacity by 60 pc China-bound iron ore freight rates soar TICC Container Line commences direct LCL console service ex-ICD-Sabarmati to Far East MISC conferring with Indian firm for LNG JV 30 pc growth in auto components exports Oilmeal exporters switch gaze to Asian markets Coir export target set at Rs 500 cr. Bunching of ships at Sandheads deepens creases on KoPT's forehead New sugar unloading record set at Tuticorin port Baalu calls for time-bound cohesive action by Railways, ports RSIC appoints Max Logistics to handle ICD-Bhiwadi operations Admec Logistics takes over handling of CWC's ICD-Jammu RBI makes out case for 10 pc uniform tariff rate for all imports Final bids for Mumbai, Delhi airports upgrade invited by September 14 Crude prices pierce $ 70 a barrel

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New director at Brussels-Zaventem airport 100th ship re-flagged to German register AN-124 certified for 402 t take-off weight RZD net profit projections halved EGL Eagle Global Logistics opening Poland branch office Russia proposes foreign haulage companies toll US cool chain conference discusses RFID Moscow ideal venue for Fiata World Congress

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AUGUST 31, 2005
US Gulf Coast takes stock Record half year for Clarksons SAPO places big straddle carrier order

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AUGUST 31, 2005
Diamond Offshore locates missing jackup

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AUGUST 31, 2005
ECL announces plans to shift operations to Everett Steel imports into US down during month of July Corps sends Portland team to help with New Orleans storm recovery Surface trade with NAFTA partners increases during month of June New 5,000-unit car carrier constructed at Chinese shipyard

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Katrina chokes energy and shipping lifeline THE full impact of Hurricane Katrina began to emerge yesterday, with a prolonged choke expected on two sectors critical to US foreign trade as well as its domestic economy - commercial shipping in the lower Mississippi River and the refining and oil industries. Panic grows in US as refiners fear gasoline shortage SIGNS of panic have emerged on the shoreside refining front in Hurricane Katrina's aftermath, even as Washington said it would tap into the nation's Strategic Petroleum Reserve to offset oil production losses in the Gulf of Mexico, writes Rajesh Joshi in New York. Commodity prices follow crude futures COMMODITY prices followed the lead of crude oil futures, surging as soon as the skies cleared in the wake of Hurricane Katrina, writes Neville Smith. Shares in Hannover Re slide over 3% SHARES in Hannover Re, the world's fourth largest reinsurer, yesterday dropped by more than 3% in late afternoon trading, following fears that Hurricane Katrina would wreck the company's anticipated profit. Offshore rigs are a better bet than tankers, says Fredriksen Norwegian shipping magnate John Fredriksen believes offshore drilling rigs represent better value than tankers and is not currently planning to expand the fleet of Frontline, one of the world's largest crude carrier operators.

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AUGUST 31, 2005
Yemen reaches LNG agreement YEMEN has reached agreement with three major customers regarding delivery of 6.5M tonnes of LNG a year from the Yemen LNG project Islamic ship finance launched ISLAMIC Asset Management, a subsidiary of London-based ABC International Bank, has launched Islamic ship finance called 'Al-Safeena Liara Sukuk' Helsinki to focus on ferries AKER Finnyards, part of the Norwegian shipbuilding group Aker Yards, has decided to stop building cruise ships at its Helsinki yard and focus instead on ferries Oil price 'frightens' Fredriksen NORWEGIAN shipping leader John Fredriksen admitted today that he is "very frightened" by the effect of the high oil price on the world economy Clarksons result reflects expansion CLARKSONS, the increasingly diversified shipping services provider, has posted underlying pre-tax profit for the six months to 30 June of £12M ($21.5M) Hamburg-Süd enters port operations Captain held after crew jumps ship US Gulf port devastation revealed GE Shipping confirms restructure BC Ferries concerned by fuel hikes Doña Ramona passenger dies Kaohsiung awaits Typhoon Talim Migrant Watch: Caribbean Evergreen denies Singapore return LOOP survives Katrina hit

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AUGUST 31, 2005
Asia cargo fuels growth at NY-NJ port Rotterdam faces Wednesday dock strike U.S., China start new talks on textiles U.S. gains WTO victory in lumber dispute MAS cargo unit boosts fuel surcharge Sri Lanka to license cargo handlers Alitalia denies report on extra layoffs

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AUGUST 31, 2005
Reefer-cargo to be surcharged at St Petersburg Surging St Petersburg volumes have prompted a series of carrier measures on reefer-cargo, with lines citing increased storage and electricity charges. Talks settle dust for fuel surcharge crisis in Hong Kong Shippers in Hong Kong say they have accepted the fuel surcharge to be imposed by truckers starting from tomorrow, and that they wish to maintain 'good relations' with the drivers. Charter market falls gently toward first day of autumn Australian unions dismiss 'criminal' claims Study identifies India's far-southern Vizhinjam as cost-effective box-terminal Shenzhen terminals become profit drivers for Modern Terminals CI Awards 2006 open for entries EC remains close-mouthed on textile specifics, despite retailers' anticipation Skoda Octavia cars to be produced in Kazakhstan Ports in Taiwan operational despite typhoon

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AUGUST 31, 2005
Products market rockets 'Katrina effect' begins as oil companies, traders enter market for spot fixtures, short-term charters amid soaring clean rates. BC Ferries builds earnings Fuel prices worrying Canadian operator, but first quarter numbers improve. Tosmare on a high Latvian shipyard boosts revenues and profit in first half after entering newbuilding market. Prisco takes a fall Russian tanker owner's first-half profit lower as revenues drop. Clarksons hits record high UK broker posted highest ever pre-tax profit in first half, boosted by sale of two combination carriers in Singapore. Canada arrests master Captain of Turkish cargo ship has passport taken after failing to mention crew desertions. Great Eastern confirms split Indian owner's offshore fleet to be spun off in bid to realise potential in growing market. RSL to charter out ferry Loss-making Latvian ship Baltic Kristina could be on its way to South Korea.

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AUGUST 31, 2005
TACA reconfirms Oct. 1 rate increase U.S./South Europe conference reconfirms Oct. 1 rate increases Yang Ming's net profits jump 19% WITASS to introduce westbound peak season surcharge ATA welcomes release of crude oil reserves ACI: Air freight growth flat in July Kenya Airways to start weekly London/Mombassa flights Truckers asks FMCSA to reconsider revised hours of service regulations Plains All American's Canadian unit buys trucking assets Famous Pacific Shipping appoints Boyd in New Zealand Schneider National opens office, readies to offer trucking in China U.S. lumber industry praises WTO decision regarding Canadian softwood Chiquita shifts operations from Gulfport, Miss. Savi, E.J. Brooks test RFID tags, bolt seals in Mitsui ocean trials Westcon Group extends use of Kewill Solutions L-3 tabs Ripp to head security and detection subsidiary FKI Logistex promotes Smith Rise in Asian cargo boosts Port of New York and New Jersey ILWU calls for stop-work meeting Sept. 1 SAPO orders 53 straddle carriers from Kalmar Hyundai Heavy Industries awarded $86 million pipeline contract

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AUGUST 31, 2005
Best ever for Gotlandsbolaget The Swedish ferry and tanker owner reports a SEK 346 million (EUR 37 million) pre-tax profit for the fiscal ... More efficient rescue helicopters in Sweden The Swedish Maritime Administration, SMA, has signed an agreement with the civilian operator Norrlandsflyg to operate civilian sea rescue helicopters ... Six RCCL vessels in the Med next season "Voyager of the Seas" will be the the biggest ever cruise ship on regular sailings in the Mediterranean next season ...

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AUGUST 31, 2005
Buyers turn to Houston as New Orleans, Mobile remain closed Demand jumps in Houston as buyers cope with port closures, but find little relief from high prices. Bunker costs fail to hinder BC Ferries' profits British Colombia ferry company announces increased revenue for quarterly results even as bunker fuel costs spiral. Katrina: Another disaster for lubes? Sources report that Chevron Oronite's Oak Point plant in Louisiana is under several inches of water, the consequences of which could be grave for marine lubricants. DOE & API: Stocks mixed for week before Hurricane damage Effect of hurricane Katrina yet to be seen in inventory statistics, which show high level of refinery utilisation. Further claims filed against Mawashi Al-Gasseem New court claims filed against vessel arrested for outstanding bunker bills. Japan: Bunker production and sales up in July EU plumps for new SECA deadlines and sulphur restrictions The EU has set implementation dates for SECAs differently from the IMO, as well as introducing a host of other sulphur limits across its territories. Chemoil reports Houston Delivery Tariffs Increase Rotterdam firm amid tight prompt supply Saudi Arabia ready for 11 million bpd output Saudi Arabia stands ready to boost its oil output to 11 million bpd to cover any supply shortages caused by hurricane Katrina. Indian refiner seeks stake in SPC Indian state-run refiner Bharat Petroleum Corp Ltd is looking to buy a stake in Singapore Petroleum Company, while other Indian entities are also interested, reports claim. Crude oil breeches $70 barrel barrier Early Singapore trading sees crude for October delivery breech $70 barrier, bunkers above $300 pmt in Houston.