Botched cargo theft a wake-up call for ports THE recent hijack of an Indonesian vessel and botched million-dollar cargo theft has exposed serious flaws in the security of Malaysia's Pasir Gudang port and is a wake-up call for the region's ports, according to the Kuala Lumpur-based IMB Piracy Reporting Centre.
Norwegian firm wins Venice LNG terminal deal worth US$900m AKER Kvaerner, a Norwegian oil services and engineering company, said the contract to build an import terminal for liquefied natural gas near Venice in Italy is worth US$900 million.
Bangladesh urged to build deep-sea port BANGLADESH has become more cost-competitive for foreign investors, but high corporate tax and transportation costs were holding back a bigger flow of overseas capital, a Japanese trade survey said.
Admiralty Casebook
Court finds ship blast intentional, rejects insurance claim THE insurer of a bulk carrier need not pay a claim for US$4 million because the vessel's owner had intentionally caused an explosion to make a fraudulent insurance claim, the English High Court ruled last month.
Port Shots
PORT SHOTS TEEKAY LNG Partners LP, a natural-gas shipping venture of the world's largest oil tanker owner, plans to raise US$132 million from a stock sale as demand for energy surges.
Botched cargo theft a wake-up call for ports THE recent hijack of an Indonesian vessel and botched million-dollar cargo theft has exposed serious flaws in the security of Malaysia's Pasir Gudang port and is a wake-up call for the region's ports, according to the Kuala Lumpur-based IMB Piracy Reporting Centre.
Norwegian firm wins Venice LNG terminal deal worth US$900m AKER Kvaerner, a Norwegian oil services and engineering company, said the contract to build an import terminal for liquefied natural gas near Venice in Italy is worth US$900 million.
Bangladesh urged to build deep-sea port BANGLADESH has become more cost-competitive for foreign investors, but high corporate tax and transportation costs were holding back a bigger flow of overseas capital, a Japanese trade survey said.
Admiralty Casebook
Court finds ship blast intentional, rejects insurance claim THE insurer of a bulk carrier need not pay a claim for US$4 million because the vessel's owner had intentionally caused an explosion to make a fraudulent insurance claim, the English High Court ruled last month.
Port Shots
PORT SHOTS TEEKAY LNG Partners LP, a natural-gas shipping venture of the world's largest oil tanker owner, plans to raise US$132 million from a stock sale as demand for energy surges.
Botched cargo theft a wake-up call for ports THE recent hijack of an Indonesian vessel and botched million-dollar cargo theft has exposed serious flaws in the security of Malaysia's Pasir Gudang port and is a wake-up call for the region's ports, according to the Kuala Lumpur-based IMB Piracy Reporting Centre.
Norwegian firm wins Venice LNG terminal deal worth US$900m AKER Kvaerner, a Norwegian oil services and engineering company, said the contract to build an import terminal for liquefied natural gas near Venice in Italy is worth US$900 million.
Bangladesh urged to build deep-sea port BANGLADESH has become more cost-competitive for foreign investors, but high corporate tax and transportation costs were holding back a bigger flow of overseas capital, a Japanese trade survey said.
Admiralty Casebook
Court finds ship blast intentional, rejects insurance claim THE insurer of a bulk carrier need not pay a claim for US$4 million because the vessel's owner had intentionally caused an explosion to make a fraudulent insurance claim, the English High Court ruled last month.
Port Shots
PORT SHOTS TEEKAY LNG Partners LP, a natural-gas shipping venture of the world's largest oil tanker owner, plans to raise US$132 million from a stock sale as demand for energy surges.
High bunker costs affecting tanker market Market analysts predict downward pressure on shipowner earnings
Yukos restructuring will lead to massive cuts Finance and management centre expected to be first casualty of Yukos restructuring plan, followed by exploration and production, and refining and marketing.
UAE: ADNOC offers 380 cst fuel oil export cargo UAE refiner continues to offer spot export cargoes while sidelining in the Fujairah bunker market.
DNVPS suggests checklist for Marpol VI sampling procedures With just two weeks to go before Marpol Annex VI comes into force, several fuel testing agencies have tried to help operators understand the ins and outs of Marpol compliant sampling procedures, an area that has caused considerable confusion and raised many questions among suppliers and buyers around the world.
Former Soviet Union fuel oil exports up sharply in March Improved weather conditions through the Baltic and Black Seas have prompted exports of fuel oil from the former Soviet Union to increase sharply.
WFS: Marine segment revenues double in Q1 Marine segment revenues more than doubled in the first quarter, however the company also reported unrealised losses on the hedging of fuel inventories and open purchase commitments.
New global director for ExxonMobil Marine Fuels ExxonMobil Marine Fuels (EMMF) has recently appointed Andy Wescoat as Director, Global Marine Fuels, replacing Jaime Spellings, who held the position since November 2002.
Singapore accedes to all six Marpol Annexes Singapore has shown its commitment to safeguard the marine environment by acceding to all six annexes of Marpol.
Alternative power facilitates PTP development The Port of Tanjung Pelepas (PTP) will be getting an alternative source of power supply that would further boost the port's future development.
UAE shipping firm considers fleet replacement State-owned shipping company may replace its fleet of vessels with double-hulls to comply with IMO regulations.
Tanker market faces three years of famine warns analyst THE tanker market is likely to be the first shipping sector to suffer an oversupply of tonnage, leading to earnings declines for the next three years, Citigroup Smith Barney tanker analyst John Kartsonas has warned.
World-Wide hails the best of its 50 years RECORD tanker markets helped to make 2004 'the best ever' for World-Wide Shipping it has emerged amid celebrations of the Hong Kong tanker giant's founding 50 years ago this year, writes Julian Bray.
Market warms to Teekay's IPO as expectations are beaten THE debut of Teekay Shipping's long-awaited liquefied natural gas initial public offering has been greeted warmly by the stock market after the issue emerged at a higher price than initially expected and with more shares being sold, writes Tony Gray.
OSG hints at more orders OVERSEAS Shipholding Group could order up to five additional US-flag product tanker newbuildings on its own account, writes Rajesh Joshi in New York.
Barroso passes liner review to Barrot European Union Transport Commissioner Jacques Barrot is expected to take charge of the review of liner conference shipping legislation following the latest round of pass-the-parcel.
How troubles on ill-fated Norway reached boiling point BOILER troubles on the Norwaywere a long-standing and well documented problem before the fatal quayside explosion in Miami two years ago, a US federal docket has suggested.
SNCM confirms emergency sales FRENCH state-owned ferry operator SNCM has confirmed it is to sell assets of €13M ($16.8M) to avoid bankruptcy in the short term
Pacific Sky cruises cancelled P&O Cruises' has cancelled two cruises on Brisbane based Pacific Sky as repairs to the ship's gearbox will take longer than expected.... Full story
TEN rates hold steady TSAKOS Energy Navigation managed a moderate boost in profits during its first quarter, despite lower revenues.... Full story
OSG results skyrocket OVERSEAS Shipholding Group raked in more profits during the first quarter of 2005 than during any previous full year in its history, 2004 aside.... Full story
Trasmed buys TMA flagship TRASMEDITERRANEA, Spain's largest ferry and cargo operator, is to purchase the ro-pax Atalaya de Alcudia from Transportes Maritimos Alcudia in Majorca.... Full story
Algoma posts stronger quarter ALGOMA Central, the Canadian tanker operator, posted improved earnings in the first quarter, due to increased activity in Great Lakes and ocean operations.... Full story
LA boxes to grow 9.9%: Report Despite growth, nation's largest container complex should be able to avoid the severe congestion that occurred last year.
Baillie emerges as casualty in P&O Ports boardroom scuffle Alistair Baillie, P&O Ports (POP) MD and chief operating officer, has been made redundant in what appears to be a boardroom putsch.
Thaw in India/Pakistan relations sees trade growth and new service
Group of six calls upon EC to be flexible with Marco Polo budget
Two developments mooted for Port of Kandla
EBRD looks for Russian re-sourcing in auto industry
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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