Royal P&O Nedlloyd posts record profit CONTAINER shipping group Royal P&O Nedlloyd yesterday posted record 2004 results thanks to thriving demand fuelled by outsourcing to Asia, and predicted a much higher operating profit at its core unit.
Cosco Pacific plans US$353m container capacity expansion COSCO Pacific Ltd, the world's fourth-largest container leasing company, will spend US$353 million this year to expand its container capacity at a faster rate as demand for sea freight increases.
Frontline cuts General Maritime stake by 31% FRONTLINE Ltd, the world's second-largest tanker company, cut its stake in General Maritime Corp by 31 per cent after saying last week it may sell shares of the rival oil shipper if no progress was made towards an acquisition.
More radiation detectors for US ports
Admiralty Casebook
A dredger is a vessel: US Supreme Court THE US Supreme Court last week overruled decisions of a Massachusetts district court and an appeals court, and ruled that one of the world's largest marine dredgers is a vessel although it only has limited self-propulsion.
Royal P&O Nedlloyd posts record profit CONTAINER shipping group Royal P&O Nedlloyd yesterday posted record 2004 results thanks to thriving demand fuelled by outsourcing to Asia, and predicted a much higher operating profit at its core unit.
Cosco Pacific plans US$353m container capacity expansion COSCO Pacific Ltd, the world's fourth-largest container leasing company, will spend US$353 million this year to expand its container capacity at a faster rate as demand for sea freight increases.
Frontline cuts General Maritime stake by 31% FRONTLINE Ltd, the world's second-largest tanker company, cut its stake in General Maritime Corp by 31 per cent after saying last week it may sell shares of the rival oil shipper if no progress was made towards an acquisition.
More radiation detectors for US ports
Admiralty Casebook
A dredger is a vessel: US Supreme Court THE US Supreme Court last week overruled decisions of a Massachusetts district court and an appeals court, and ruled that one of the world's largest marine dredgers is a vessel although it only has limited self-propulsion.
MPA to introduce more incentives for double-hulls More incentives introduced to encourage Singapore's bunker industry to move toward a double-hull standard.
Singapore: Sales figures show buyer confidence remains high Latest sales figures show buyer confidence is still good in the world's largest bunker market, with 380 cst sales breaking a record in January.
Singapore: Fuel oil stocks dip, distillates rise
Egypt seeking 360,000 mt of 180 cst for the bunker market After months of supply problems in the Egyptian bunker market, EGPC is said to be in the market for 360,000 mt of fuel oil for the bunker market.
Profits rise sees Royal P&O Nedlloyd 'deliver on its promises' ROYAL P&O Nedlloyd achieved a more than fivefold increase in operating profit last year as cargo volumes grew and double digit increases in freight rates were achieved. "This year has been one of major progress for Royal P&O Nedlloyd," said chief executive Philip Green.
Frontline and Goldman Sachs fined over VLCC sale PENALTIES totalling almost $25m are being levied against Frontline and US investment bank Goldman Sachs by Indonesia's anti-monopoly watchdog, the KPPU, in a case relating to an alleged conspiracy over the sale of two state-owned VLCC newbuildings.
Euronav in $477m VLCC deal TANKER specialist Euronav is buying four very large crude carriers from Metrostar in a deal worth $477.5m, writes Tony Gray.
Scepticism greets market reports of 44-ship Qatar LNG order Reports that South Korea's three leading shipyards have scooped orders for 44 liquefied natural gas carriers worth more than $10bn from Qatar are being treated with scepticism.
Costalas buys seven tankers for UK venture FORMER Osprey Maritime boss Peter Costalas has bought seven chemical tankers from Finaval of Italy for a new outfit based in London to take advantage of British tonnage tax, writes David Osler .
Riot at Iraq's Khor Al Zubair port forces out AP Moller-Maersk AP Møller-Maersk has withdrawn from Iraq's second-largest port after demonstrators rioted at the site, Bloomberg reports.
Frontline, Goldman Sachs fined INDONESIA'S watchdog group KPPU has levied $15.4M in fines against tanker major Frontline and is demanding $8.6M from Goldman Sachs after finding that the two colluded in a conspiracy to defraud the country
No firm overseas plans yet: PTP PORT of Tanjung Pelepas in Malaysia has played down reports that it is planning to invest in greenfield projects overseas
Double-hull incentives offered SINGAPORE has unveiled new measures to encourage bunker tanker owners to introduce double-hull vessels to replace existing fleet
China Shipping to expand fleet CHINA Shipping Development is planning to beef up its oil and coal carrying fleet with an investment between Yuan4Bn ($483M) and Yuan5Bn this year
Rivals enter Indian rail carriage MAERSK India and cargo transport company Transport Corp of India are to move into rail transport of containers and compete with Concor
NATS prices share offering NORDIC American Tanker Shipping (NATS), the Norwegian Suezmax owner listed in New York, has priced its offering of 3.5M common shares at $49.50 per share
SSA exec to hubs: Boost volume now Operator says terminals must work immediately to increase the number of containers they handle per acre if they are to manage rapidly-growing volumes.
Intra-European merger announced by Samskip and Geest European short-sea operators Samskip and Geest North Sea Line (GNSL) have announced an agreement in principle for Samskip to buy out GSL, consolidating non-Icelandic intra-European short-sea services under GSL management.
P&O Nedlloyd minds the gap P&O Nedlloyd's (RPONL) 421% operating-profit increase, to US$401million, was 'momentous' but not 'good', Royal P&O Nedlloyd (RPONL) CEO Philip Green said today, and offered instead a US$300million 'bridging-the-gap' promise.
PTP considers greenfield project as its first overseas venture
NZ pioneers container log-istics
Shenzhen to step up port development to overtake rivals
Pyeongtaek wins financial support for berth construction
Australian trade balance dire but forecast brighter
KMTC adds Inchon to Korea/Thailand service
Samudera Shipping posts 18% revenue growth for 2004
Ennshafen expects box-throughput to triple this year
Yellow Sea Liners' Committee to raise freight-rates in Korea/China
Merger of Gazprom/Rosneft cleared A process to merge the Russian government gas monopoly Gazprom with the state oil company Rosneft is cleared by the ...
Jotun moves sharply ahead Despite eaker results from ship and offshore paints Jotun presented strong results this week. Sales increase by nearly 11 per ...
Wilson goes to market Wilson EuroCarriers are ready to be listed in Oslo on March 17th and shares worth NOK 280 million (EUR 34.1 ...
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