Maersk to buy into Shanghai port's new terminal DANISH shipping giant AP Moeller-Maersk will take a share of the second phase of a US$12 billion port in Shanghai, a senior executive said yesterday, as it bets on the longevity of China's shipping boom.
China Ocean Shipping expanding fleet CHINA Ocean Shipping Co, the country's biggest shipping company, said it will buy twice as many oil tankers and container vessels to carry materials and meet a government goal of doubling economic output by 2010.
TUI gets S&P, Moody's ratings with a chance of upgrading GERMAN tourism and container shipping group TUI has gained credit ratings from Standard & Poor's and Moody's Investors Service that reduced the cost of insuring against a default by the company, traders said.
China, Taiwan, HK may boost box traffic
Strait Talk
Looks like back to the future THE signs of a downturn in the container shipping market have been there for all to see for some time.
Maersk to buy into Shanghai port's new terminal DANISH shipping giant AP Moeller-Maersk will take a share of the second phase of a US$12 billion port in Shanghai, a senior executive said yesterday, as it bets on the longevity of China's shipping boom.
China Ocean Shipping expanding fleet CHINA Ocean Shipping Co, the country's biggest shipping company, said it will buy twice as many oil tankers and container vessels to carry materials and meet a government goal of doubling economic output by 2010.
TUI gets S&P, Moody's ratings with a chance of upgrading GERMAN tourism and container shipping group TUI has gained credit ratings from Standard & Poor's and Moody's Investors Service that reduced the cost of insuring against a default by the company, traders said.
China, Taiwan, HK may boost box traffic
Strait Talk
Looks like back to the future THE signs of a downturn in the container shipping market have been there for all to see for some time.
Tung calls on top box lines to avoid price war ORIENT Overseas International chairman CC Tung has appealed to the dominant players in the world's liner business not to rock the boat as the market gets choppier.
Maersk lines up 15,000 teu boxships, says Paris broker MAERSK is poised to tighten its stranglehold on container shipping with a new generation of ships able to load up to 15,000 teu, Paris broker Barry Rogliano Salles forecast yesterday.
Amlin looks for a quick launch in Bermuda market AMLIN, the largest and one of the most successful ventures at Lloyd's, is to form a new reinsurance company in Bermuda, initially capitalised at $1bn.
Britain promotes e-navigation standard BRITAIN'S shipping minister has called on maritime nations and international bodies to work with the UK in developing e-navigation technology, writes David Osler.
Boost for Brazilian yards LEGISLATION has been passed in Brazil that will assist the development and modernisation of shipyards, especially in Rio de Janeiro
Russian oil exports still rising RUSSIA will export almost 3% more oil in November than October, as loadings at Primorsk, the country's biggest crude outlet, hit an all-time record
Chinese ports playing catch-up, say traders Unlike super-efficient container hubs, exporters and importers say different approaches are needed to cope with the inadequacies of Chinese breakbulk and project cargo ports.
Washington mulls change for Ready Reserve ships
Port privatization to improve Brazil delays
U.S. shippers confused over charter rates
Decline of breakbulk fleet could hamper growth
Rail delays for Asia imports
Mega-mergers should aid price stability, says OOIL's Tung
Bid war unlikely as P&O figures fail to stack up A bidding war is unlikely to materialise for the P&O Group according to an insider, who says that the returns would just not be there for shareholders.
Troika trials Trans-Sib to Moscow route Russian Railways (RZhD) and FESCO joint venture, Russian Troika, launches another intermodal route tomorrow, Vladivostok to Moscow, and rail services will continue developing as its rolling-stock fleet expands.
Evergreen calls on China and Taiwan to shake hands and review cross-strait links
South and North Koreas co-operate through ports
Port Klang trucking costs rise
Maersk Sealand departs from Korex, sailing into Shinsundae
BPA to select developer for port logistics complex
Coastal Express partners to merge At a meeting at Bodø the boards of the two Norwegian Coastal Express partners Troms Fylkes Dampskibsselskap (TFDS) and Ofotens ...
CAD 70,000 for oil spill in Canadian waters A 64-litre oil spill in Canadian waters resulted in a CAD 70,000 (USD 60,000) fine. In June 2004, Frontline's ...
Limited effect from refinery shut-down Market reactions to the shutdown of Shells Pernis refinery in Rotterdam are limited, except that crude oil traders indicate weaker ...
Houston prices slide further, New York finally below $300 Prices in main US bunkering ports falling again today and barging unaffected by reports of Houston tug shortage.
Florida bunkering shaking off hurricane woes Bunkering operations returning to normal this week after hurricane Wilma avails crisis in Miami.
Russian export duty may remain unchanged Russian finance ministry official says export duties may remain unchanged after the latest round of monitoring.
Evergreen profits down on reduced shipments, higher fuel Decline in profits attributed to Taiwan's slowing exports growth, reduced shipments, increased shipping capacity and soaring fuel prices.
Bunker demand driving force behind refinery projects Strong and rising demand for bunker fuel in the Emirate of Fujairah is driving investment in new refinery projects.
Crude near 3-month low on reasonable winter supply outlook Bearish sentiment seems to dominate market with US stocks of crude and heating oil above seasonal averages.
Prompt deliveries tight in Rotterdam
Japan: September bunker sales down 17.9% on month Both bunker fuel sales and production in September down on month.
Indian port seeks sales tax exemption for bunker supply The Cochin Port Trust is seeking government approval for a sales tax exemption for international bunkering terminal at Kochi harbour.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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