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Shipping News

Japan's top shipping lines expect record profit
JAPAN's three largest shipping lines, Nippon Yusen KK , Mitsui OSK Lines and Kawasaki Kisen, said profits may reach record levels for the rest of the year ending March 2006 on increasing demand to carry cars, clothing and commodities.
Shanghai port's April volumes hit record
SHANGHAI International Port Co, the operator of China's busiest container port, handled record cargo in April as growing demand for Chinese made goods in the US and Europe boosted cargo shipments.

Admiralty Casebook

Dispute must go back to London arbitrator: Canada court
A CLAUSE in a charterparty that any dispute is to be referred to arbitration is enforceable, even if one party is disputing that it was indeed the one that entered into the charter agreement in the first place, a Canadian appeals court ruled last month.

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Shipping News

Japan's top shipping lines expect record profit
JAPAN's three largest shipping lines, Nippon Yusen KK , Mitsui OSK Lines and Kawasaki Kisen, said profits may reach record levels for the rest of the year ending March 2006 on increasing demand to carry cars, clothing and commodities.
Shanghai port's April volumes hit record
SHANGHAI International Port Co, the operator of China's busiest container port, handled record cargo in April as growing demand for Chinese made goods in the US and Europe boosted cargo shipments.

Admiralty Casebook

Dispute must go back to London arbitrator: Canada court
A CLAUSE in a charterparty that any dispute is to be referred to arbitration is enforceable, even if one party is disputing that it was indeed the one that entered into the charter agreement in the first place, a Canadian appeals court ruled last month.

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RPONL officials resign following takeover bid MOL launches new China-India service Globe Express opens 7th mainland office in Ningbo Tuticorin boosts capacity Royal P&O Nedlloyd Q1 operating profit surges 252 per cent K+N expands stake in WM Cargonet Korean Air to launch service to Seattle MASkargo revises optional security charges Qantas baggage handlers involved in alleged drug ring, court told

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Maritime industry in western region poised for exponential growth-Ficci-WRC study 'Bad apples' in export basket soiling India's image of quality goods exporter PSA SICALinstalls new equipment at Tuticorin Container Terminal First train carrying export goods from ICD-Sanathnagar flagged off to Visakhapatnam Port More Box-N rakes for iron ore exports through Paradip Port likely GETTING HIGH WITH A PIE IN THE SKY-Kingfisher Airlines launched Jet scans market for wider-bodied carriers To Chicago non-stop with Air Sahara Seaways Rhenus Logistics invited to 'Transport Logistics 2005' Jute policy targets exports to touch Rs 5,000 cr. by 2010

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MAY 12, 2005
Shell still interested in Iran oil field Despite reports of difficult relations between the company and the Iranian government, talks are reportedly continuing on a role for Shell in the project Bunker prices bearish in New York and the USEC Suppliers adjusting prices against drop in crude and strong competition Fuel oil: High prices keep Chinese buyers cautious Limited demand for fuel oil from Chinese buyers amid high outright prices has left Singapore's bunker market as the main outlet for fuel oil in Asia in the near future, traders said. Norway: Q&A on MARPOL Annex VI issues An official from the Norwegian Maritime Directorate has replied to questions from Bunkerworld regarding how Port State Control interprets and plans to enforce Annex VI of MARPOL 73/78. Bunker industry steps up to new Turkish pollution law Bunker suppliers in Istanbul have taken voluntary steps to ensure that the port's bunker barges conform with a new Turkish pollution law. Shipping companies: Bunker fuel costs will slow growth Japan's top three shipping companies all reported record earnings for the fiscal year that ended in March, but expect growth to slow over the coming year due to higher bunker fuel costs. Rotterdam prices buck crude trend Major player disputes LA off-spec fuel link Two-tier market not due to off-spec fuel, Bunkerworld told. Singapore: Fuel oil stocks little changed, build for distillates Singapore: MPA accredits 8 more bunker suppliers Eight more Singapore bunker suppliers were accredited under the MPA's accreditation scheme, bringing the total number of accredited suppliers to 67. Higher bunker prices, lower VLCCs charter rates Rising bunker costs is one of the factors contributing to a decline in VLCCs charter rates this week.

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MAY 12, 2005
Copenhagen Malmö Port selects Tideworks Technology Pakistan proposes FTA with Mercosur Aramex increases first quarter profit by 84% Hellmann doubles truck runs to the Baltic states Iberia and Avianca broaden code-sharing agreements Turkon Line serves Savannah with new Eastern Mediterranean service TX Logistik: new sales manager

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MAY 12, 2005
Strange 'hijacking' of Indonesian ship Imarex to trade options Camillo Eitzen Q1 profit boost Farstad's "better than expected" Q1 American Club opens up in Greece

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MAY 12, 2005
House panel adds Navy ships OMI gets new credit facility

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MAY 12, 2005
Port of Portland Commission approves PDX agreements Commanding officer selected for new Seattle Coast Guard sector US and Maldives ink open skies pact Port of Everett taps Mandt for community relations Boeing Realty Corp. sells Auburn property

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MOL Europe boss to retire CHRIS Bourne, one of the best known executives in European liner shipping, will be stepping down as managing director of MOL, (Europe) at the end of next month. Ladyman takes on shipping BLAIRITE loyalist Stephen Ladyman was last night named as Britain's new shipping minister, writes Julian Bray. Merger may kill conference system A MERGER of Maersk Sealand and P&O Nedlloyd will probably hasten the demise of the conference system and create an uncertain future for dozens of consortia agreements worldwide, legal experts are predicting. Alarm bells in Asia over bid for P&O Nedlloyd THE €2.3bn ($2.9bn) offer by A P Møller-Maersk for P&O Nedlloyd is sending shivers down the spines of terminal operators and feeder lines in southeast Asia. Decision time for Qatar QATAR is said to be poised to name the successful shipowners and shipyards in its latest tender for 12 of the largest liquefied natural gas carriers ever built, writes Tony Gray. Ship Finance seals containership deal TANKER owner Ship Finance International is breaking new ground with the acquisition of two newbuilding containerships from its largest shareholder, John Fredriksen, in a deal worth $100m, writes Tony Gray. BIMCO's Lord Kinnock weighs in to EU maritime legislation debate FORMER European transport commissioner Lord Neil Kinnock has thrown his weight behind the shipping industry's campaign for greater pragmatism from Brussels in maritime legislation.

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MAY 12, 2005
Surprise US import drop AMERICA's enormous trade deficit dropped by $5.6Bn in March to $54.99Bn, its lowest level in six months, according to new figures from the Commerce Department Sea Containers' ferries falter SEA Containers lost less in the first quarter of 2005 than it did last year, but concerns over flagging ferry performance remain Med anti-pollution plan THE Spanish government today launched a new sub-regional proposal to crack down on ships responsible for pollution in the Mediterranean Sea Huge fine for rogue Greek AEGEAN Cargo, the Greek ro-ro operator whose vessel Aegean Sun last week broke a national ban on calling at Turkish-Cypriot ports, will be ordered to pay a fine of $6.6M Torm on course for strong year K-Line dividend up Australian funds for rescue towage Spain plans places of refuge S&P calls off GenMar watch Eitzen begins first new year well Illegal fees double export costs Cosco Pacific invests in Yangzhou Korea Line profit falls NYK net profit doubles

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MAY 12, 2005
SCI vessel out of U.S. service Shipping Corp. of India is changing its role in IndAmex service to slot operator as of mid-June. CP Ships will continue to raise trans-Atlantic rates UPS dismisses pilots' strike vote Bullish outlook for FedEx Maersk opens U.S.-C. America service NOL watching Maersk P&O bid MOL quits trans-Pacific groups P&O Ports, Crowley in Gulfport pact UK box hub sets appointment system

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MAY 12, 2005
Chinese premier calls for EU co-operation to resolve trade disputes Chinese premier Wen Jiabao reminded the EU of the good relationship China and the EU had been enjoying and the two parties should resolve the textile trade disputes. Leading Canadian freight-forwarder questions CN initiative Central bank: China will choose its currency reform timetable Chris Bourne says 'it's the right time to move on' HK truckers make suggestions to improve terminal safety APL smiles on Ireland, with new office and summer-start service Port of Felixstowe re-issues safety instructions for hauliers NYK: strong demand upholds revenues MOL sets sights on next STEP up, after overfulfilment of FY2004 plan K Line aims for JPY1trillion operating revenues by FY 2010 CMA CGM orders four more giants Wellington bids for regional box crown

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MAY 12, 2005
Brothers seek $62m Gourdomichalis' new FreeSeas files in US to merge with Trinity Partners in drybulk venture. TOP pulls $300m offering Fledgling TOP Tankers faces breakdown of $475m deal for Nomikos bulker fleet, separate tanker buys. JFC swoops on Lagoa ships Russian shipper snaps up six reefer vessels from Greek owner at undisclosed price. SFI surprises with boxship buy Fredriksen's US-listed vehicle takes over Hemen containerships in first expansion outside tankers. ITF in racism probe Federation inquiry into claims by African union official of discrimination. Iino shores up defences Higher earnings come at right time, as company looks to keep investors sweet. DIS pay row hots up Polish seafarers' jobs at risk as Denmark looks to bring law in line with Europe. Shinwa surges again Japanese tanker and bulker owner piles on profit in year to 31 March. Slimmer MC comes good Sale of four boxships keeps costs down for New York-listed owner in first quarter. Torm takes it up a gear "Highly satisfactory" first quarter for Danish tanker and bulker owner helped by ship sales. Bulk slump hits Ceco But first-quarter results stand firm after gas and chemical operations sparkle. Profits double at NYK Japanese owner posts record full-year results on the back of strong revenue growth across most sectors. Sea Con wins restraining order Injunction secured against GE Capital over container spat, but losses continue for UK ferry operator. K Line powers ahead Tight tonnage supply situation plus rate restorations helps bottom line at Japanese shipowner. KLC earnings shrink First quarter performance fails to match last year's at Korean bulker and LNG player. Fischer tanker impounded Ouro do Brasil detained in port after investigation launched into deaths of fishermen. Noble's profits inch up Hong Kong commodities trader and shipowner sees record quarterly turnover, but profits up only 4%. Fredriksen takes the money Norwegian tanker king makes $110m from selling Nedlloyd holding ahead of Maersk takeover. MOL makes it a hat trick Japan's second largest shipowner joins compatriots in posting healthy set of full year results. Hong Kong holds baker's dozen Thirteen ships were detained during April after falling foul of port state control requirements.

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MAY 12, 2005
NYK profits up 105% for fiscal year "K" Line net income leaps 80% Canada/Europe carriers raise inland charge from Toronto OMI negotiates $320 million credit facility Barge refloated in James River APL opens Dublin office UAL's woes continue with $1.1 billion first quarter net loss Menlo integration goes smoothly, UPS officials say TIACA urges U.S., EU to discuss air cargo liberalization Grain group wants truck fuel surcharge provision dropped from bill Columbia Intermodal names Pace as vice president EMD Bioscience pays $904,500 civil fine for U.S. export violations Argentina joins U.S. CSI program

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MAY 12, 2005
Fredriksen sells P&O Nedlloyd shareholding John Fredriksen sells his shareholding in Royal P&O Nedlloyd and nets a profit of USD 110 million. Tor Olav ... Bassøe brokers leave Four crude tanker brokers at PF Bassøe has left to set up their own chartering operation ' Polis Chartering ' and takes ... New icebreaker ordered for Primorsk The Russian state-owned port company Rosmorport has secured financing and declared an option for a second icebreaker at Baltiyski ...