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Shipping News

SSCL's $49m sale boosts cash pile
THE 'shrewd sale' of two more of its multi-purpose bulk carriers for some $49 million boosts Singapore Shipping Corp Ltd's cash hoard further as it seeks to reposition itself into a car carrier fleet with steady earnings.
Peak-season jams expected to ease at US ports this year
THE California ports of Los Angeles and Long Beach, adjacent harbours that form the busiest shipping point in the US, this year will probably reduce the delays that last year left cargo sitting on ships as many as 10 days.
Dramatic pirate attack an inside job?
MALAYSIAN police have arrested two crewmen from a tanker which was hijacked by pirates earlier this week, saying they believed it was an inside job, according to reports yesterday.
Bergshav group chief rejects Frontline bid

Admiralty Casebook

Damages for tripping on board set aside
AN AUSTRALIAN appeals court has set aside a judgment in which a plaintiff was awarded almost A$300,000 after she tripped on a coaming at an entrance door of a cruise vessel and injured herself.

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Shipping News

SSCL's $49m sale boosts cash pile
THE 'shrewd sale' of two more of its multi-purpose bulk carriers for some $49 million boosts Singapore Shipping Corp Ltd's cash hoard further as it seeks to reposition itself into a car carrier fleet with steady earnings.
Peak-season jams expected to ease at US ports this year
THE California ports of Los Angeles and Long Beach, adjacent harbours that form the busiest shipping point in the US, this year will probably reduce the delays that last year left cargo sitting on ships as many as 10 days.
Dramatic pirate attack an inside job?
MALAYSIAN police have arrested two crewmen from a tanker which was hijacked by pirates earlier this week, saying they believed it was an inside job, according to reports yesterday.
Bergshav group chief rejects Frontline bid

Admiralty Casebook

Damages for tripping on board set aside
AN AUSTRALIAN appeals court has set aside a judgment in which a plaintiff was awarded almost A$300,000 after she tripped on a coaming at an entrance door of a cruise vessel and injured herself.

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New EMA service to begin in late summer HK box volume increases slightly in May BAX keeps eyes fixed on PRD Henan to stage 1st international logistics exhibition U-Freight sets up special China team in HK PSA HNN boosts Antwerp box capacity Joint effort resolves truck-parking problem at Oakland ALA offers logistics courses online SIA bid to fly Pacific route delayed by Aussie government Kingfisher signs up for new Airbus planes Continental starts new Beijing service from the Big Apple

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Stimulating start to 2-day maritime event - Provide inputs for future policy & direction, says D. T. Joseph Leading shipping cos' profits swell under tonnage tax regime SCI plans to take JV route with Iran firms to import LNG, petrochem GE Shipping adds vessel to fleet Coir exports post 20 pc growth Textile exports to US up by 26 pc in April Bright prospects for tea exports to WANA region seen Anti-dumping duty on caustic soda from European Union, Indonesia being reviewed Lighterage operations may continue at Sandheads till March PwC study underscores Tuticorin Port's potential as international transhipment hub Financial closure of sethusamudram project slated for October this year - UTI Bank to handle finances Rlys rub it into salt producers' wounds Rakesh Mehrotra assumes charge as CONCOR MD Pawar inaugurates electronic networking of APMC markets in Maharashtra Capexil seeks Rs 5,000-cr. technology upgradation fund - Urges relook at FBT, service tax Seminar on 'Setting up business in London' at IMC today Board of Trade meeting today

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JUNE 16, 2005
Panalpina changes management structure Sea Malta to be sold to Grimaldi Naples Saudi Arabian Airlines: new cargo service to China Rail4chem launches Rotterdam'Schkopau container shuttle for UBC Bibby Distribution acquires Hammond Logistics

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JUNE 16, 2005
Fredriksen set to buy 60% of Bergshav Euronav issues US$11.2m in new shares in Tanklog deal Pirate gang captured ICTSI seals Madagascar port deal

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JUNE 16, 2005
SCA and OSHA renew alliance Tanker owners welcome new IACS common rules

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JUNE 16, 2005
District judge rules in favor of Columbia River Channel Project PRIDE OF AMERICA joining NCL America fleet Grants funds help upgrade Shilshole Bay Marina facilities "K" Line vessels now calling new Husky facility in Tacoma Railroad police nab crooks breaking into cargo container

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ICS urges stand against EU power grab EUROPEAN shipowner associations must urgently lobby governments to prevent the European Union replacing national governments at the International Maritime Organization, the International Chamber of Shipping has urged, writes David Osler. Daewoo shipbuilding arm up for sale as state recoups debts Daewoo Shipbuilding and Marine Engineering, the world's second largest shipbuilder, is to be put up for sale. Speculation mounts on possible buyers The leading domestic contender to buy the company would likely be the highly acquisitive STX Corp, led by chairman Kang Duk-Soo, writes Sam Chambers in Hong Kong . Bergshaven mulls over Frontline approach Atle Bergshaven is biding his time before making a decision on whether to exercise pre-emption rights on shares in Bergshav Shipholding that are being sold to John Fredriksen's Frontline, writes Tony Gray. Buyers line up to bid for Seawheel EUROPEAN shortsea operator Seawheel, which has made little secret of its support for consolidation, is the latest subject of takeover speculation with a number of buyers thought to be looking at the company.

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JUNE 16, 2005
China Shipping mulls bulk spin-off CHINA Shipping has confirmed that it is considering an internal restructure that would hive off bulk operations into a listed entity House committee to probe VLCC sale INDONESIA's House of Representatives has formed a special committee to look in to the controversial sale of two VLCC newbuildings by state-owned oil and gas giant Pertamina to Frontline Carnival Corp 2Q earnings up 23% CARNIVAL Corp's second quarter earnings are 23% higher than last year, with much of the growth credited to a 5.3% increase in capacity Planning process causes congestion THE planning process for 12 North European box terminal developments is costing an estimated euro540M ($650M) Sea Malta sale moves ahead THE government of Malta has taken a decisive move towards the sale of its 57% stake in Sea Malta to Grimaldi Group subsidiary Atlantica di Navigazione Third new ro-ro service for WWL Strong interest in Maasvlakte 2 Two seafarers lost off Sri Lanka IPO surge questioned Breaker aid 'may not be enough' Oil majors favour quality WWL strengthens logistics team Frontline targets Bergshav tankers ICTSI moves into Madagascar Crew detained over tanker hijack

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JUNE 16, 2005
BNSF says it's ready for peak season Railroad expects fleet, system upgrades will help it handle peak container volumes that will move through West Coast ports Rotterdam eyes mega-hub bids EU shippers: Let liners compete Rotterdam facing rail strike Truck capacity crunch looming Report: Cosco IPO oversold Report: BAX Global for sale Maersk buys stake in P&O EU warns on China spats

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JUNE 16, 2005
Textiles saved, shoes in danger Following last week's settlement by China and the European Commission (EC) of the textile trade disputes, Chinese safety shoes exports have stepped into a new round of uncertainties. Judge opens way for Columbia River dredge A federal judge in Seattle threw out an environmental lawsuit yesterday aimed at blocking deepening of the Columbia River shipping channel. Maasvlakte II attracts 15 potential bidders for concessions Textile settlement not the end of the story, say Trade Committee MEPs MSC find bouquets and brickbats at Home JV formed for Yangshan Phase I HK Port grew 1.8% in May Pyeongtaek to open first dedicated container terminal ICTSI signs concession at Toamasina 'Viking' shows the way, exceeding two-year throughput in Q1 2005 Port Klang logistics firms impose additional charges for I/E papers APMM captures 8.2% share-block in P&O Nedlloyd offer period

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JUNE 16, 2005
Peter's revenge? $350m IPO Genco fires Citigroup from underwriter role in retaliation for analyst's remarks about principal Peter Georgiopoulos, sources indicate. Bergesen to list gas ops? Company expected to unveil new public vehicle to hold all lng and lpg activities. East does not meet West UK broker tells forum western broking practices still at odds with Chinese approach. Here come 20 more! Shipping has more than 20 companies in IPO pipeline, or 30% of coming offerings for all industries combined, banker says. Segura calls for Namura sackings Investor says shipyard needs new management team after forgetting needs of shareholders. FFAs set to dominate Virtual trading will overtake physical activity from 2006 onwards, Andy Lucey warns Greek forum. SNCM snookered European court annuls award of state aid to French ferry owner because of "error." Shell books ship's writers Oil major deploys 50 administration officers on tankers to stem avalanche of paperwork. Gulf Navigation orders Dubai-based company breaks silence with $220m deal for four chemical tankers. Carnival cruises to record US cruiseship giant posts best-ever second quarter profit and raises earnings guidance for full year. Samskip to swallow Seawheel Icelandic line expected to continue buying spree with purchase of UK shortsea operator. Fidelity sells Nedlloyd stake Maersk snaps up US investor's 8% holding ahead of public offer. Prisco adds aframaxes Russian owner follows April order at Hyundai Heavy with two more 104,000-dwt tankers at same yard. Crewman foils pirates Nepline tanker man steals attackers' speedboat and alerts authorities off Malaysia. Interocean builds managed fleet New Jersey ship manager to crew multipurpose GCL ship. Viking wins ITF injunction Finnish ferry line wins long legal battle against unions over reflagging. Two die in lifeboat drill Probe begins into how Indian crew lost their lives on Star Reefers ship in Portugal. Daewoo to sell up? Korean shipbuilding giant will probably be sold in multi-million dollar deal, according to its president. Slain master "unlawfully" killed Assailant used a knife, a steam iron and a stool to murder captain of OSG aframax in February. Mittal offloads Lakers Lakshmi's steel empire re-jigs ownership of former ISG ships to meet with Jones Act approval. Shell sticks with Sinwa Singapore provisions firm renews exclusive deal to supply UK oil giant's ships in Lion Republic. Iraqi pirates attack another VLCC Mercator's 280,654-dwt Premputli (built 1993) is second VLCC to be targeted in less than a fortnight. Clipper buys SSC boxships Singapore Shipping Corp inks deal to sell stakes in two ships to Bahamas-registered Clipper Group. CSG eyes bulker IPO Chinese shipowner considers combining all bulkers with those in CSDC ahead of potential spin-off.

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JUNE 16, 2005
New accounting standards raise P&O's liabilities Hapag-Lloyd group names Kranich head of finance CP Ships carriers switch China calls on transpacific loop Bill targets giant Airbus plane for missile defense DC-3 crash involved small charter operation Alaska Airlines orders 35 Boeing 737-800 airplanes Swiss WorldCargo expands management team EU official asks industry help to push intermodal Yellow taps Zimmerman to head USF Holland U-Freight establishes China team FMC reviews OTI license application Allgeier goes to Geneva to represent U.S. at WTO U.S., Canadian customs leaders compare notes USCIB's Goldberg to serve on ILO governing body Senate subcommittee votes funds for deepening Columbia River EU port liberalization could be watered down 15 bidders for new Maasvlakte Rotterdam box terminals Virginia Inland Port uses grant money to install CCTV ICTSI signs Madagascar port concession

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JUNE 16, 2005
Svitzer sells bulk-barge operation with three tugs Em. Z. Svitzer (SvitzerWijsmuller) has sold their entire bulk-barge operation to a British company for take over at the ... Keel-laying of Stena ro-pax no 2 at Baltiysky The hull for a second ro-pax vessel ordered by Fosen Mek Verksteder has been keel-laid at Baltiysky Zavod ... NCL is sued by passengers Star Cruises owned Norwegian Cruise Line (NCL) is sued by 24 passengers for USD 100 million because the they say ...

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JUNE 16, 2005
Bunker cost hike fails to prevent record Carnival profits US cruise ship giant Carnival Corporation announces record net quarterly income of $409 million - despite a 23% surge in bunker fuel costs. 2,500 mt barge operational in Libya Alshic Bunkers has announced that the 2,500 metric tonne capacity barge Yukan is now operational for deliveries in the Gulf of Sirte, Libya. Total mulls refinery deal to enter India's oil retail sector Total is hoping to enter a refining joint venture in India's rapidly growing energy market, with an eye to gain access to the country's retail market. Titan/Glencore may boost volumes after ending fuel oil deal Titan will take over full use of its Malaysian floating bunker storage facility next month, currently mainly used by Glencore, as both companies look to boost their bunkering and fuel oil trading volumes in the region. Singapore fuel oil stocks at three-month peak, bunker sales soft Singapore traders report soft spot bunker demand and forecast below average sales of gas oil this month. South Korea: Weak demand keeps prices little changed Weak demand seen in Korean ports this month has kept bunker fuel prices largely steady, traders said, also noting uncompetitive levels compared to Tokyo.