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Shipping News

Jurong Int'l arm wins US$70m W African deal
JTC Corp subsidiary, Jurong International, has bagged a contract worth an estimated US$70 million to design and ultimately implement a West African port's ambitious expansion plan as it seeks to emulate Singapore's success as a major regional hub port.
UN agency calls for action to deal with oil spill
THE UN agency for maritime affairs is taking the lead in coordinating an international response to an oil spill that threatens sandy beaches, fishing ports and marinas lining about a third of the Lebanese coastline with pollution as a result of the current conflict in the region.
Container ship, trawler collide off S Africa
A Greek container ship collided with a South African trawler north-west of Cape Town, Greece's Merchant Marine Ministry said.

Admiralty Casebook

Notice of readiness linked to start of laytime
A VOYAGE charterer that loads a vessel after accepting an early notice of readiness from a vessel owner cannot later claim that 'laytime' had not started under the charter, the English Court of Appeal ruled last month.

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Shipping News

Jurong Int'l arm wins US$70m W African deal
JTC Corp subsidiary, Jurong International, has bagged a contract worth an estimated US$70 million to design and ultimately implement a West African port's ambitious expansion plan as it seeks to emulate Singapore's success as a major regional hub port.
UN agency calls for action to deal with oil spill
THE UN agency for maritime affairs is taking the lead in coordinating an international response to an oil spill that threatens sandy beaches, fishing ports and marinas lining about a third of the Lebanese coastline with pollution as a result of the current conflict in the region.
Container ship, trawler collide off S Africa
A Greek container ship collided with a South African trawler north-west of Cape Town, Greece's Merchant Marine Ministry said.

Admiralty Casebook

Notice of readiness linked to start of laytime
A VOYAGE charterer that loads a vessel after accepting an early notice of readiness from a vessel owner cannot later claim that 'laytime' had not started under the charter, the English Court of Appeal ruled last month.

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'K' Line net profit falls 37.4 per cent in Q1 New container terminal to be built in Vietnam Chiwan achieves monthly throughput record in July Swift offers new service to industry Market interest in Pacific National stake strong: Toll Air India Cargo, Cargojet form alliance in Canada SIA Group profit up 145pc in Q1 DP World Net reports H1 net loss

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Cruise Control!-Smooth sailing for cruise shipping policy In the trough, shipping cos sight the swell Stricken container vessel sinks off Bombay High MoU on drug quality standards signed with US Lanka asked to notify second phase of tariff liberalisation under FTA AP exports shrimp worth Rs 475 cr. STC may have to pay more for fresh wheat imports Apeda lowers agricultural produce export growth rate to 15 pc in 2006-07 Saarc defers decision on India's complaint against Pakistan Mundra Port & SEZ Ltd formed ABG Shipyard's Q1 net profit surges to Rs 26.93 cr. CONCOR posts excellent growth in eastern region traffic during April-July CII sees several welcome features in new MSMED Act

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AUGUST 3, 2006
Golden Ocean takes over 5 Clipper panamaxes IMO co-ordinates Lebanon oil spill response DV Howells wins MoD contract Finnlines' better performance

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AUGUST 3, 2006
Colonna's wins NS Savannah contract Ship's engineers indicted in pollution case Hornbeck adds to newbuild program

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AUGUST 3, 2006
Washington State Ferries begins next phase of build program Two shipping alliances plan new combined service Sea-Tac Airport leftovers heading to area food banks US Coast Guard turns 216 on Friday Corps taps McCormick as new Seattle District boss

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Hanjin Shipping joins the 10,000 teu club HANJIN Shipping is preparing to join the elite group of lines that operate 10,000 teu containerships. Sovcomflot and Novoship snap up Marpetrol chemtanker fleet Sovcomflot and Novoship are combining to acquire Marpetrol, a leading Spanish chemical tanker company, in a move that underlines the growing confidence of Russian shipping companies on the global stage. Greeks fuel suezmax order surge SUEZMAX tankers figure prominently in a fresh wave of Greek newbuilding orders that have come to light in recent days, bearing out some brokers' observations that many of the country's shipowners are foregoing summer holidays to nail down important investments. Posco 'looking with interest' at Daewoo Shipbuilding SOUTH Korea's leading steel group Posco may consider bidding for Daewoo Shipbuilding and Marine Engineering, the world's second largest shipyard, in a move that could have far-reaching implications for the global shipbuilding industry. Bulker collides with trawler A GREEK-controlled bulk cargo carrier collided with a South African trawler north-west of Cape Town, Bloomberg reports.

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AUGUST 3, 2006
High Court Justice gives Stolt a break WASHINGTON, DC 03 August ' Stolt-Nielsen Transportation has scored a victory in its battle to avoid federal indictments as US Supreme Court Justice John Paul Stevens referred the issue to the full court that will not meet again until October Disabled bulker arrested in Florida THE Panamanian-flagged bulker Antares, which had to be towed into Port Everglades on 31 July after a propulsion failure, has now been arrested for non-payment of crew wages Chris weakens but lines take no chances CRUISE and cargo lines continue to modify vessel itineraries in advance of Tropical Storm Chris, even as the typical cyclone appears to be weakening New deal brings GOGL to two dozen JOHN Fredriksen's dry bulk venture Golden Ocean Group has signed an agreement with Clipper Bulk Shipping to take over the bareboat agreements for five Panamax bulkers Russian flag still rules inland waves HOPES for an easing of access for foreign-flag shipping to Russian inland waterways have been dashed as Russia's acession to the WTO is put on hold Finnlines upgrades forecast LISTED Helsinki based ro-ro shipping group Finnlines now expects its 2006 profit to exceed that of last year after cutting capacity and re-focusing its operations First Ship Lease expands capital base APM names new Singapore chief BCF wants TSB data MOL, K Line revise forecasts Teekay Shipping falls short Norway cleared for breaking at Alang Cougar Ace salvage efforts continue Morgan Stanley seals Heidmar deal Posco denies Daewoo bid OEL Vision sinks off Mumbai

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AUGUST 3, 2006
Container seals await better supply chain security plans, says Customs official Senior agency official says the trade should rethink the processes for supply chain security before it settles on a seal. U.S. box imports to grow 9%: PIERS Rotterdam boxes lose pace "K" Line, MOL cut forecasts Vancouver hub for sale: Report FedEx hikes air charge DHL adds Asia-NY flights i2 income plunges Typhoon soaks Hong Kong Trinity profit grows New Massport CEO

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AUGUST 3, 2006
Q1 slump sees K Line and MOL cut 2006/07 outlook Japan's K Line and MOL both lowered their full financial year profit estimates after earnings were hit by the sluggish container sector in the first quarter. UPDATED: Empties lift Rotterdam H1 growth to 2% Rotterdam's H1 container volume increased by just 2%, or 92,000TEU, to a total 4.65m TEU - which included 56% empties ' and now forecast total annual growth is 4%. Maersk and Safmarine reconfigure Indian Ocean strings Port of Haifa handling limited shipping Typhoon Prapiroon crashes through HK and Chiwan Terminals not for sale but review in progress says Hanjin ECB and Bank of England raise rates Dalian Port buys assets from its Hong Kong-listed arm Container ship sinks near Mumbai High oilfield Strong growth again for Hupac

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AUGUST 3, 2006
Stolt stunner Chemical carrier looks to have found sympathetic ear as Justice John Paul Stevens refers its request for stay to full US Supreme Court. Posco after Daewoo? Korean media say shipbuilder Daewoo's biggest supplier, compatriot steelmaker Posco, is looking to buy the yard. Restis offloads five more Greek owner follows up sale of three supramax newbuildings with $125m sale of 1990s-built handymaxes to compatriot Eolos Shipmanagement. Martinos into Stealthgas The owner behind Eastern Mediterranean has expanded his gas investments with an equity stake in Stealthgas to fund ship purchases. Top shares drop 10% US-listed tanker company unveils yet more bad news as second-quarter loss exceeds analysts' expectations. Russians buy Marpetrol Tanker owners Sovcomflot and Novoship gain Med chemical trades foothold with deal for Madrid company's 12 carriers. Alaska ferry suffers engine shutdown State-owned ship that caught fire last month in trouble again after losing power in one engine. Omega finally hits target Last of IPO tankers handed over as Glencore takes profit share above $25,500. Johan Shipping to list Expansion minded Malaysian feeder containership operator plans IPO. Anangel caper strikes trawler Twenty four crew members rescued after bulker collides with fishing boat off Cape Town. Ungar out of Gdansk race Israeli shipowner reportedly withdraws offer for historic Polish shipyard. Shinwa shines Japanese coastal bulker owner Shinwa Naiko Kaiun Kaisha reveals sparkling set of quarterly figures. Meiji advances But profits still in line to drop 50% in 2006 as Japanese owner leaves forecasts unchanged. Oh no, Iino Japanese tanker and gas carrier owner's first quarter profit chopped, but company more optimistic for full year. Daiichi down Japanese bulker and tanker owner's first quarter profit dips despite revenue rise. Hanjin jumps on ports bandwagon South Korean line says it is considering a sale of eight terminals from China to California. Bunkers batter MOL Japanese shipping giant hit by fuel costs in first quarter, while boxship freight rates fell. KO for Kawasaki Kinkai Japanese owner Kawasaki Kinkai Kisen Kaisha knocked by 38% slump in quarterly net profit. Great Eastern stays whole Indian owner goes back to drawing board after failing to meet conditions for spin-off of offshore shipping operations. K Line slides on fuel High bunker costs and falling freight rates hurt Japanese company with 37% slump in first-quarter net profit. Genco profits edge up But Georgiopoulos bulker operation sees TCE rates decline, while larger fleet pushes costs up. Panamax bargain Golden Ocean seals five-year bareboat charter deal for five Clipper Bulk units at less than $10,000 per day. TEN fixes Silia T Another $61m in revenue as suezmax is chartered to South American oil firm for five years.

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AUGUST 3, 2006
MOL, "K" Line lower expectations after 1st-quarter profit drops Schoeneman named acting deputy director at AMC Costa Container Lines adds Mexico ports to Med/Canada/Cuba loop INTTRA opens office in Korea IMO Secretariat to move offices in London during refurbishments UPS opens stores in Shanghai Cathay Pacific boosts Dallas/Atlanta freighter flights, cancels flights American's July cargo up 6.4% Kansas City Southern returns to black in 2nd quarter RFID portals added to Defense distribution centers Avion to offer C$574 million for Atlas Cold Storage ADS Logistics completes acquisition Kinton named Massport executive director Port of Hamburg's TEUs up 10.7% after six months

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AUGUST 3, 2006
Black market supplier could resume business Assets may be returned but company at the centre of the illegal fuel bust remaining elusive today. Cougar Ace fuel secure Salvage operations continuing on car carrier after source of initial pollution discovered. D&K Holdings reveals global bunkering ambitions Former ENOC bunkering manager returns to D&K Holdings to manage development of its bunkering business in Fujairah, Singapore, Morocco and Djibouti. Thai firm to develop bunker fuel replacement Soaring cost of bunker fuel makes industrial plants explore cheaper liquid fuel made from coal. Chemoil poised for Singapore IPO US-based independent supplier in preparations for Singapore initial public offering (IPO), reports claim. Rotterdam market slightly firmer Singapore: Residual fuel stocks break 15-million barrel mark Onshore inventories of residual fuels hit record high, stocks of middle distillates up. Bunker costs cut annual profit forecast Japan's second and third largest shipping firms post lower Q1 net profit on high bunker costs. Crew kidnapped off Malacca Straits Pirates demand ransom for release of crew. Malaysian port picks up few spot orders Spot demand soft at Malaysia's Port Klang as well as the neighbouring port of Singapore.