Shipyard shares dip on price report SHARES of Hyundai Heavy Industries Co and other Asian shipbuilders slumped, after the world's largest shipbroker cut its estimate of the price of new vessels because of falling demand and lower steel costs.
PSA, Jurong Port volumes surge SINGAPORE's container terminal operators continued to turn in increasing year-to-date throughput volumes, with PSA International recording a 11.4 per cent rise in container boxes handled globally and the smaller Jurong Port showing a 58.6 per cent increase.
Pirates hijack tanker, surrender after six-hour standoff PIRATES hijacked a Malaysian-registered tanker yesterday and held the crew hostage for nearly 12 hours before surrendering to police and naval forces who laid siege on the ship, authorities said.
Maersk bid for Nedlloyd nets CEO Green 5.4m
Deal of the week
Strait Talk
Shipping pools under the spotlight UNTIL recently, the only sector of shipping that felt itself under pressure from anti-cartel regulators was liner shipping.
Shipyard shares dip on price report SHARES of Hyundai Heavy Industries Co and other Asian shipbuilders slumped, after the world's largest shipbroker cut its estimate of the price of new vessels because of falling demand and lower steel costs.
PSA, Jurong Port volumes surge SINGAPORE's container terminal operators continued to turn in increasing year-to-date throughput volumes, with PSA International recording a 11.4 per cent rise in container boxes handled globally and the smaller Jurong Port showing a 58.6 per cent increase.
Pirates hijack tanker, surrender after six-hour standoff PIRATES hijacked a Malaysian-registered tanker yesterday and held the crew hostage for nearly 12 hours before surrendering to police and naval forces who laid siege on the ship, authorities said.
Maersk bid for Nedlloyd nets CEO Green 5.4m
Deal of the week
Strait Talk
Shipping pools under the spotlight UNTIL recently, the only sector of shipping that felt itself under pressure from anti-cartel regulators was liner shipping.
Capital Maritime revives Greek stampede to list on Wall Street GREEK shipping's crush on Wall Street continues to simmer despite recent market turbulence, with the Evangelos Marinakis-led Capital Maritime & Trading Corporation filing its registration for an initial public offering on the New York Stock Exchange.
Brussels set to drop port services Bill BRUSSELS is prepared to withdraw the controversial port services directive if faced with opposition from other European Union institutions, the head of the transport ministry said yesterday.
Coalition naval forces step up Iraq oil terminal patrols US-led coalition naval forces are raising their profile around Iraq's offshore crude oil export terminals after an upsurge in piracy in the northern Persian Gulf, including a recent attack on an oil tanker, the British Royal Navy confirmed yesterday.
Industry greets common rules accord SHIPPING industry leaders have welcomed the agreement between members of the International Association of Classification Societies on an implementation date for common rules for tankers and bulk carriers, writes Michael Grey.
Baltic honours Prescott for his role in British tonnage tax BRITISH deputy prime minister John Prescott has been awarded honorary life membership of the Baltic Exchange in recognition of his part in the establishment of the country's tonnage tax system.
IACS truce secures common rules THE International Association of Classification Societies (IACS) avoided a split last night after its 10 members reached a compromise over how their work on developing new common rules would be paid for
Toll confirms Challenger charter TOLL Shipping today confirmed the charter of the ferry Stena Challenger (ex-pride of Cherbourg) for its Cook Strait, New Zealand, run
New box operator at Imbituba LIBRA Terminais has signed an agreement with Companhia Docas de Imbituba to operate the container facilities at Imbituba in Brazil until 2012
Asia/Europe rate failure a surprise, says line At least one carrier was 'surprised' by the shipping lines' collective failure to achieve the full US$250/TEU general rate increase (GRI) on the Asia/Europe trades in April.
Is Samskip-Geest-Seawheel a deal? Samskip is to make another step in the consolidation of the intra-European market, by acquiring Seawheel, to fit with its Geest North Sea Line (GNSL) business, ci-online understands.
Port of Halifax captures new box cargo from Asia
Libra Terminais to operate Imbituba terminal for seven years
Congestion will remain even as China's growth slows
Fujian Shipping to launch China/Japan/Korea service
Upgrade to Evergreen group CEM service underway
Chinese vice premier criticises US approach to textile imports
Mandatory became recommendation at IMO meeting The IMO NAV Committee meeting last week considered a number of proposed Associated Protective Measures, (APM), to the Particularly Sensitive ...
OVDS to order new cruise ship In a few weeks time Ofoten and Vesteraalens Dampskibsselskap (OVDS) will order a new cruise ship to consolidate its position ...
Smyril Line in red but much better Smyril Line P/F, the Faroese ferry operator, came out of 2004 with red figures at the bottom line. Although ...
Freeport dry for a week following giant stem PDVSA Deltaven advises that key Bahamas port is currently out of avails with no replenishment stocks due for a week.
More transparency in fuel costs sought Asian Shippers' Council seeking clearer justification for freight rate increases.
Saudi oil minister: "Build refineries" to soothe oil markets As OPEC leans towards a modest quota increase, the Saudi oil minister says more refineries must be built to address the shortage in distillate supplies, which is driving oil prices.
BP annual review: Record energy demand growth in 2004 Chinese energy demand was exceptional in 2004, but strong growth was a global phenomenon, according to BP, which also said supply grew to meet demand, while world oil reserves remained little changed.
Classification societies reach agreement on common rules The world's ten major classification societies have agreed on an implementation date for the introduction of so-called "common rules" for tankers and bulk carriers.
SMP develops new lube for use with low sulphur fuels Responding to the concerns of ship operators and the changes in sulphur emission control regulations, Shell Marine Products (SMP) has launched a marine lubricant designed specifically for engines burning low sulphur fuel oil.
ARA sharply higher after crude jump
Salvage tug sustains damage attempting to float grounded bulker A salvage tug sustained damage after it tried to recover the grounded Kiperousa, which is still carrying bunker fuel onboard.
US oil spill fund awaits boost US Senator Ted Stevens is seeking to boost the US oil spill fund and to maintain a fund balance of between $2 billion and $3 billion.
Malaysia's anti-piracy force to be launched in November The new Malaysian Maritime Enforcement Agency (MMEA) aimed at fighting piracy will be launched in November.
Oil prices jump $2 ahead of OPEC meeting Crude oil prices jumped by more than $2 in New York last night ahead of OPEC's meeting in Vienna tomorrow.
Distillate supply fears shake market Concerns refiners will be unable to meet surging global demand for distillate fuels sends oil, marine distillate prices up.
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