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.
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.
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.
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)
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
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 ...
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.
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