Nymex, LCH boost freight futures trade THE freight futures market for seaborne commodities is finally coming of age as big clearing houses enter the fray, opening up new channels for growth in an already booming market.
Oil tanker industry sees more M&A in pipeline EXPECT more mergers and acquisitions in the oil-tanker industry, where shares of companies such as Overseas Shipholding Group and Frontline are regarded as undervalued, tanker company executives said at a Bear, Stearns & Co Inc conference.
PIL to start new China-S America service with MOL TAPPING China's ever-expanding export growth, Singapore-based Pacific International Lines has announced a new container service between China and South America.
LA port congestion affects charterers, other US ports As a result of port congestion, charterers are considering reimposing a congestion charge. Some importing companies are planning to use other ports in the United States to import their goods from Asia
ExxonMobil responds to Hong Kong terminal leak report
US: SEAaT encouraged by regulators' approach SEAaT representatives have expressed concern about a tendency in the US for local, perhaps short-sighted pressures to influence legal proceedings, but have found the interest from US regulators in abatement technologies and emissions trading encouraging.
US refinery margins up, Mediterranean & Asia profits shrink Refiners in the United States (US) have seen profit margins widen in the last week, meanwhile counterparts in Europe and Asia were not reaping such huge benefits.
Renewed Chinese buying interest amid government subsidies Guangdong Province will grant 1.6 billion yuan as subsidies to 94 oil-fired power plants in the province to help them overcome their financial problems caused by rising fuel oil prices amid low government controlled electricity prices.
Oil major announces MGO supply in Istanbul ExxonMobil Marine Fuels, one of the world's biggest suppliers of marine fuels, adds Istanbul to comprehensive supply network.
Chemoil clarifies position on Marpol VI and sampling Chemoil has reiterated the company's intention to be fully compliant with the requirements of Marpol Annex VI, but says it will charge vessels if they require a supplier's representative to come onboard to witness Marpol sampling.
Bunker activity intensifies at Mediterranean ports Over the past one year, the Mediterranean ports have been experiencing a chain of development that made bunkering an important and competitive business.
Two new appointments to the NOL board Tim Harris and Peter Wagner join the NOL board following the retirement of three non-executive directors.
OPEC: Spare capacity of over 2 million bpd OPEC's spare production capacity is well over two million barrels per day (bpd), according to a cartel official.
Teekay tankers running at full capacity Teekay Shipping Corp is running its tankers at full capacity to meet rising demand for fuel as OPEC keeps up its oil output.
UK P&I revises its own cover after rise in large marine claims UK P&I Club, the world's largest mutual providing shipowners with liability insurance, has revised its own purchase of insurance cover to take extra shelter from the spate of large marine claims, writes James Brewer.
MISC leaves dry bulk behind to smash $1bn profit mark MALAYSIA International Shipping Corp smashed through the billion dollar profit mark last year, powered by hefty gains from its exit from dry bulk shipping.
Harris joins NOL as director FORMER P&O Nedlloyd chief executive and James Fisher chairman Tim Harris (above) has been appointed as a director of Neptune Orient Lines, writes Marcus Hand in Singapore.
Qatar Shipping unveils historic $380m order for LPG quartet QATAR Shipping has confirmed intentions to splash out $380m in the liquefied petroleum gas market in a four-ship newbuild project.
Lack of oil waste facilities in Med SHIPS are discharging oil waste at sea because ports in the Mediterranean do not have sufficient waste reception facilities, according to an advisory body to the UN and IMO
MISC profit surges to $1.2Bn BOOSTED by hefty returns from the sale of ships, Malaysia International Shipping Corp (MISC) achieved a record profit before tax ( PBT) of RM4.76Bn ($1.25Bn) for the financial year ending 31 March, 2005
Ezra to sell five vessels SINGAPORE listed offshore support and marine services provider Ezra Holdings Limited has concluded agreements to sell five vessels for $59.2M to group associate Intan Offshore Sdn Bhd
Seyang sees sharp fall in profit BULK operator Seyang Shipping of Korea saw a sharp fall in profits despite an increase in turnover for the first quarter 2005
Union fights against 'slave ship' THE Maritime Union of Australia is fighting to ban a 'slave ship' which remains anchored 30 n-miles off South Australia's coastline growing and harvesting shellfish
Collision in Antwerp approaches A LOADED Aframax tanker was in collision with a small LPG carrier at the entrance to Antwerp in Belgium at about 0300 this morning
Canadian National Railway locomotive engineers threaten strike Shippers today expressed alarm after the union representing 1,750 locomotive engineers at Canadian National Railway(CN) announced plans to launch a country-wide strike following the breakdown of negotiations late last week.
Kritikos in court fight to hold onto Paragon share Christos Kritikos, a 50% shareholder in Amsterdam's Ceres Paragon Terminal, will defend his right to maintain his share in the terminal in court on June 1.
MISC returns prompt bonus share issue
Russian Customs promises transition to inspection of documents, not cargo
End of partnership with Norasia sees CMA CGM Asia-Europe reshuffle
Tim Harris appointed to NOL board
Two disputes hit Marseilles and Fos April figures
DHS sets aside US$140m in port security funds
Security comes back to shippers, insists ECMT report
Increased volumes at Suape and Manila boost ICTSI Q1 earnings
April container volumes down year-on-year, though earnings increase
Aries wants $275m Greece-based outgrowth of Magnus Carriers comes to market with mixed fleet of dozen products carriers and boxships.
Seabulk pair in play Florida owner has decided to sell off its two international-trade products tankers under new direction from impending Seacor takeover.
UK Club rings up deficit Record level of claims spills red ink on the books of the largest of the P&I clubs.
MISC feeling generous Free share windfall for investors as Malaysian giant announces huge annual profit.
Big role for Biggi V Ships chief to be first ship manager chairman of top P&I Club.
Danbolt leads Bassoe exodus Norwegian broker's boss takes four colleagues with him to form new company.
Maas lives on Dutch yard declared bankrupt in March to resume building Dahl and Wagenborg cargoships.
Lasco in the money Strong tanker earnings set to accelerate Latvian Shipping's fleet renewal programme.
Aframax holed in collision No pollution reported after Phoenix tanker involved in clash with Hartmann LPG carrier outside Antwerp.
Harris joins NOL Ex-P&O Nedlloyd CEO and James Fisher & Sons chairman Tim Harris appointed to board.
STX suffers Korean shipbuilder's profits fall in first quarter as costs take their toll.
Costs cushion IHI Falling manufacturing expenses lifts annual profit forecast at Japanese shipbuilding giant.
Eighteen held in Oz Golden Union, Zodiac, Cosco, Nomikos, Ugland, Fesco and Exmar all make April detention list.
Chong eats up more Vita Former Links Island Holdings chairman continues to buy stock in fledgling Singapore shipowner.
Profits shrink at Seyang Higher first quarter revenues can't prevent earnings erosion at Korean bulker owner.
Ship sale boosts Halim Mazmin Disposal of capesize bulker helps first quarter profits improve five-fold at Malaysian owner.
New Paris MOU members The port state control co-operation Paris MOU has at a committee meeting in Helsinki awarded full memberships to Estonia ...
No improvement for shipping in Norwegian budget In spite of good market conditions and positive market expectations, Norwegian shipping faces an unlucky development with companies and ships ...
New passenger service Russia-Finland On 14 May a new passenger service was opened between St Petersburg and Kotka. The route is serviced by the ...
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