$500m PSA bonds to pay debt, fund expansion PSA Corp, a unit of the world's second-biggest container port operator, said it plans to sell $500 million of bonds to help refinance existing debt and fund its expansion plans in Singapore.
Falling China demand hurts freight rates ASIAN shipping rates have fallen further this week, hurt by a decline in Chinese iron ore imports, but views that demand from China will rebound have tempered the bearish mood and were supporting the market, traders said.
Cosco Singapore wins US$20.5m conversion jobs BULK shipping firm Cosco Corp, a unit of China's biggest shipping company, said yesterday it had won orders worth US$20.5 million to convert oil tankers as it looks to expand its shipyard business.
Snag-hit container ship rams Bangladesh navy vessels
Susana joins Asia route
Strait Talk
Fresh move to cut ferry disasters SOME 25 years ago, I spent a lot of time travelling through Indonesia.
$500m PSA bonds to pay debt, fund expansion PSA Corp, a unit of the world's second-biggest container port operator, said it plans to sell $500 million of bonds to help refinance existing debt and fund its expansion plans in Singapore.
Falling China demand hurts freight rates ASIAN shipping rates have fallen further this week, hurt by a decline in Chinese iron ore imports, but views that demand from China will rebound have tempered the bearish mood and were supporting the market, traders said.
Cosco Singapore wins US$20.5m conversion jobs BULK shipping firm Cosco Corp, a unit of China's biggest shipping company, said yesterday it had won orders worth US$20.5 million to convert oil tankers as it looks to expand its shipyard business.
Snag-hit container ship rams Bangladesh navy vessels
Susana joins Asia route
Strait Talk
Fresh move to cut ferry disasters SOME 25 years ago, I spent a lot of time travelling through Indonesia.
Marinakis pulls IPO as Wall St cuts up rough THE rot has set in for shipping in Wall Street as investor demands for a price cut are said to have forced Evangelos Marinakis to abandon the planned $250m flotation on the New York Stock Exchange for his family business, Capital Maritime & Trading.
STX Pan Ocean seeks $454m SOUTH Korean company STX Pan Ocean is looking to raise up to US$454m from its initial public offering on the Singapore Stock Exchange.
Latest portion of Qatar LNG order confirmed LONG anticipated, the latest portion of the largest combined ship order yet was confirmed yesterday, writes Mike Grinter in Hong Kong.
MCA hits back over TV 'safety alarm' THE Maritime and Coastguard Agency has hit back at a prime- time television attack claiming that lives are at risk because of its internal problems.
BBC World Service signs up for another five years with VT Group VT GROUP has secured a five-year renewal of its agreement to distribute and transmit BBC World Service radio programming globally, writes Hugh O'Mahony.
EU owners 'should flag in EU' EU SHIPOWNERS should register with EU flags, agreed delegates at a conference being held in Madeira reviewing the future of ship registers
US reaction to Athos 1 US CONGRESSMEN yesterday passed a measure aimed at preventing oil spills in US waterways like the 2004 accident where the Athos I spilt over 80 tonnes of heavy crude
Paranagua repaired after Vicuna THE Cattallini liquid bulk terminal at the Brazilian port of Paranagua has re-opened, seven months after it was closed following an explosion on a chemical carrier
Settle dispute, port workers urged BOMBAY High Court has urged Mumbai Port Trust and the 1,500 striking transport workers to settle their dispute quickly
Tugs fail to shift Kiperousa EFFORTS to pull the bulker Kiperousa from South Africa's Eastern Cape coast at the weekend proved fruitless, despite the aid of two of the most powerful tugs available
Capital withdraws IPO plans CAPITAL Maritime & Trading has pulled plans for its $250M initial public offering, calling into question whether sufficient demand exists for shipping IPOs yet to come to market
Pricing power shifts back to truckers As demand continues to run ahead of available capacity, motor carriers once again are calling the shots when it comes to pricing.
Government infrastructure funding on horizon for Canada's ports In a move hailed by shippers and port circles, the Canadian government has introduced amendments to legislation that would provide ports with access to federal funding for key infrastructure projects.
High Court moves to resolve Mumbai dispute India's High Court has directed the Advocate General to convene a meeting with all the parties connected to the current dispute in Mumbai to find a solution to the issues.
Trade disputes simmer on as Beijing accuses EU over manipulation of shoe trade statistics
Cosco Holdings shares scrape bottom of the range
Cosatu strikes limited blow on South African ports
SPRC seeks partners for Contecar development
ABP warns of retail 'destocking' result at Southampton subsidiary
Hapag-Lloyd/NYK service to go weekly in September
Hamburg Sud's consolidation boosts Columbian hub
STX Pan Ocean and Heung-A launch second joint service
NZ port has new hub vision
Kalmar to maintain Patrick's Brisbane automated terminal
MOL (Europe) MD gets new executive board
KCTA to hold port sales in Japan to promote Gwangyang
Russia to increase oil exports in July Russia is scheduled to increase oil exports through all terminals in the Baltic and the Black Sea in July compared ...
Shipyard hires more workers and will not close for holiday The A.P. Møller-Mærsk owned shipyard Odense Steel Shipyard is to work more during the summer period. Instead of closing ...
Vancouver bunker suppliers unconcerned by truck strike Disruption to container movement in the port may last a week, but bunker market largely unaffected.
US increases single hull spill liability Legislation increases single-hull tanker oil spill liability levels and introduces new rules for US waterways.
Shell to divest marine businesses in Ireland The Royal Dutch/Shell Group of Companies (Shell) is in negotiations with a number of prospective buyers for its retail and commercial businesses both in the Republic of Ireland and Northern Ireland, including its marine businesses.
Mixed messages over Russian oil taxes Customs officials have predicted yet another hike in export taxes from August 1, while the country's Industry and Energy minister was reported saying that taxes had reached their upper limit.
Asian fuel crack weakens further on fundamentals and pricing Asian fuel oil swaps eased further today on softer crude prices, but fundamentals and pricing activities exacerbated losses as the market awaits a slew of incoming arbitrage cargoes in July.
'Royal' barge fleet grows with birth of new princess By a happy coincidence, the arrival in Rotterdam this weekend of the hull for the latest newbuild bunker barge for FTS Hofftrans coincided with the birth of a new Dutch princess, and both will be named 'Alexia'.
Rotterdam stable Tuesday morning with continued congestion
Tankers arrested for not carrying delivery order Two tankers loaded with fuel oil were arrested by the Indonesian navy for not carrying a Delivery Order onboard.
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