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Cosco Pacific first-half profit drops 37% on lower earnings
COSCO Pacific Ltd, Asia's third-largest port operator, said first-half profit fell a more than expected 37 per cent, on lower earnings at its terminals and an affiliated container maker.
Hutchison to build, operate Ecuador terminal
HUTCHISON Port Holdings Ltd, the world's largest port operator, said it will spend US$523 million to build and operate a new container terminal in Ecuador as it seeks to tap Latin America's economic growth.
Stolt-Nielsen indicted in US for price-fixing
BRITISH shipping company Stolt-Nielsen SA has been indicted in Philadelphia for price-fixing and other illegal cartel activities in the parcel shipping industry.

Admiralty Casebook

Vessel detention a normal risk in salvages: court
AN ENGLISH court recently upheld a time charterparty under which the salvor of the vessel Tasman Spirit had brought in a shuttle tanker to help in salvage operations off the port of Karachi in Pakistan.

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Shipping News

Cosco Pacific first-half profit drops 37% on lower earnings
COSCO Pacific Ltd, Asia's third-largest port operator, said first-half profit fell a more than expected 37 per cent, on lower earnings at its terminals and an affiliated container maker.
Hutchison to build, operate Ecuador terminal
HUTCHISON Port Holdings Ltd, the world's largest port operator, said it will spend US$523 million to build and operate a new container terminal in Ecuador as it seeks to tap Latin America's economic growth.
Stolt-Nielsen indicted in US for price-fixing
BRITISH shipping company Stolt-Nielsen SA has been indicted in Philadelphia for price-fixing and other illegal cartel activities in the parcel shipping industry.

Admiralty Casebook

Vessel detention a normal risk in salvages: court
AN ENGLISH court recently upheld a time charterparty under which the salvor of the vessel Tasman Spirit had brought in a shuttle tanker to help in salvage operations off the port of Karachi in Pakistan.

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OOCL to introduce east Mediterranean service Rickmers-Linie changes agent in Seoul Lines to resume Chittagong services following talks HPH to build, operate terminal at Ecuadorian port Integration of Exel blamed for 22pc drop in Deutsche Post's H1 net income US President selects new Transport Secretary China Airlines to fly to Houston US Postal Service renews ABX deal in Indianapolis Jetstar to take over Qantas' Sydney-Townsville service

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A. K. Mohapatra to be Chief Guest at 'Gujarat Junction 2006' Charterers of foreign ships liable to tax-I-T Tribunal GE Shipping contracts to buy Capesize dry bulk carrier 10 pc rise in coffee exports during Jan.-Aug. Kazakh SEZ offers Indian investors a range of incentives Paradip Port Trust may put up red signal to coal rakes EMS-compliant Tuticorin Port retains ISO 14001:2004 certification Johny Joseph's JNPT posting still hangs in balance JNPT lifts draught restrictions Railways studying plan for triple-stack, though smaller containers, exclusively for domestic movement 2-star & plus export houses allowed to set up warehouses New Director-General of CBDT takes charge Admissions to Export Import Workshop begin

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SEPTEMBER 7, 2006
Lufthansa Systems appoints Dietmar Kuschel head of marketing Samskip boosts container fleet Lufthansa security surcharge German railway network: over 47,000 routes for 2007 DHL introduces first mailbox for parcels

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SEPTEMBER 7, 2006
Stolt-Nielsen charged for antitrust offence AMETIAP goes global Cargill buys stake in RightShip Nordic American in US$500m Clarksons buys Anchor Cross Schat-Harding-TTS merger scrapped US law firm merger Foss buys Harbor Marine

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SEPTEMBER 7, 2006
NCL orders mega cruiseships at Aker's French yard Thule Drilling loans UAE yard $22 million Stolt-Nielsen indicted

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SEPTEMBER 7, 2006
Transportation Services Index posts losses for second month Cargil buys part ownership in ship vetting business Sean Connaughton sworn in as new maritime administrator Port of Tacoma taps Reilly as container terminal contracts boss Crowley tug GUARD helps extinguish house fire

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Russian giant tanker tie-up becomes reality RUSSIAN shipping's long-awaited marriage between tanker giants Sovcomflot and Novorossiisk Sea Shipping yesterday looked to have come a step closer with a veiled blessing from the Kremlin. 'One in six at risk of cancer' at Alang ALMOST one in every six workers at the world's largest shipbreaking yard at Alang could be suffering from an early stage of asbestosis and are at serious risk of contracting lung cancer, according to an expert committee set up by India's Supreme Court. NCL makes move on megaship market with $2.8bn Aker order NORWEGIAN Cruise Line is the latest cruise company to enter the megaship market after announcing a €2.17bn ($2.8bn) deal with Aker Yards for two 150,000 gt ships and an option for a third, writes Sandra Speares. IMO voluntary audit scheme criticised for lack of transparency MARITIME unions say IMO's much-trumpeted Voluntary Member State Audit Scheme will lack teeth and do nothing to increase transparency in the war against substandard shipping.

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SEPTEMBER 7, 2006
34 rescued as vessel sinks COLOMBO 07 September ' Thirty-four Bangladeshis, including an unidentified number of passengers, were rescued today from a stricken general cargo ship off southern Sri Lanka Sun Ace pleads guilty to polluting SOUTH Korean operator Sun Ace Shipping has pleaded guilty in the US District Court in New Jersey to one count of violating the Act to Prevent Pollution from Ships Freight focus for tunnel talks MANAGERS of Eurotunnel are locked in talks to reach agreement on freight train subsidies: ferry and short-sea operators are watching closely Norway-UK ferry rationalisation A rationalisation of ferry services between the UK and Norway is taking place in a two-pronged action involving DFDS and Fjord Line NCL places mega-order in France NORWEGIAN Cruise Line is poised to enter the post-Panamax arena through a conditional $2.8Bn order in France for two 150,000-gt vessels plus an option for a third CVRD drops Nacala coal export option BRAZILIAN mining giant Companhia do Vale de Rio Doce has dropped a plan to use the port of Nacala in northern Mozambique to export coal Stolt lawyers to challenge indictment Stolt indicted on antitrust charges Kingston launches major expansion BC Ferries lawsuits 'more likely' CGG leads seismic shift Gazprom share deal to save Sakhalin

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SEPTEMBER 7, 2006
McEllrath takes helm of ILWU International Vice President Robert McEllrath succeeds James Spinosa as head of the West Coast longshore union. Senate gets port security bill NRF hits LA box fee plan Railroads set intermodal mark Europe Southern Africa Conference to dissolve Brownsville port CEO out Global business tasks getting easier: World Bank Cosco Pacific profit drops SSA gets Vietnam OK UPS opens Canadian SC hub

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SEPTEMBER 7, 2006
Rotterdam's interim results reveals Barclays settlement The Rotterdam Port Authority managed to keep the €19m (US$24.33m) claimed by Barclays Bank in one of the 'Rottergate' lawsuits, it emerged today, in the announcement of H1 financial results. COSCO Pacific H1 net profit down COSCO Pacific says its interim figures were dragged down by CIMC's share reform compensation scheme and the poor performance of CIMC and its terminals in Hong Kong and Antwerp. Citigroup outlines 2007 rates crunch points Weather closes Sydney HPH to invest US$520m Ecuador terminal Yellow Sea gets more feeder loops Russia to open bilateral WTO negotiations with US International trade the key to Vostochniy recovery NZ's Lyttelton and Tauranga struggle Itajai blockade fishermen to take fuel-price protest to minister

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SEPTEMBER 7, 2006
NCL returns to Chantiers Cruise line places first order since 1980s at Aker's new French subsidiary. Assassination on ropax The murder of a provincial politician has Filipinos arguing over port security ahead of a Southeast Asian summit meeting. Stolt indicted Two Stolt-Nielsen companies and former executives Samuel Cooperman and Richard Wingfield face fines, prison terms if convicted on US antitrust charges. Latvian mud sling Austrian investors and Latvian politicians are trading accusations in a takeover battle for the company that controls Latvian Shipping. GE takes first capesize Indian owner Great Eastern Shipping remains mum on identity and purchase price of bulk carrier. Vinalines to build yards Vietnam's state shipowning company Vinalines is diversifying into shipbuilding and repair. Irish Ferries up on crew cuts Parent Irish Continental Group sees switch to cheaper crew push up first half earnings. War drums over Filipino payouts Industry beats out warning over $60,000 payouts to sick seafarers including a cruiseship drummer. Banned from US waters A Korean bulker owner will not be trading to US ports for the next three years as part of a 'magic pipe' plea bargain. Ultrapetrol yields South American operator's bonds offer high returns despite dim prospects for tanker fleet. Enzian Shipping goes dry Swiss short sea operator bans alcohol after drinking causes double trouble. Greek ship gets weapons check Cypriot authorities search for illegal military equipment on vessel bound for Syria from North Korea. ASL shoots up 10% Thirteen million shares in Singapore builder and barge owner change hands on reports of more orders. Maersk back for more SvitzerWijsmuller, AP Moller's towage and salvage arm, has spent close to $20m on Adsteam shares.

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SEPTEMBER 7, 2006
Cargill acquires stake in vetting company Grindrod names new managing director Sea Star Line unveils new cargo tracking application U.S. international air cargo up 7.7% in July AAEI opposing 100% physical, radiological screening Target Logistics says earnings up for quarter, year UTi's second quarter profit up 6% COSCO Pacific's first half profits tumble 37% Kingston Container Terminal to expand to 2.2 million TEUs capacity Hutchison to build container terminal at Port of Manta, Ecuador Southern California ports to test hybrid yard tractor Tacoma hires new director of terminal contracts

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SEPTEMBER 7, 2006
Drilling rig shortages forecast A shortage of 33 jack-ups and 23 semi-submersible drilling rigs is forecasted by research company ODS Petrodata analyst ... Bulk carrier needs repair after grounding The Cyprus-registered bulk carrier "Velos", which grounded in Danish waters this the weekend, is in need of repaires before ... Aker Yards to build duo for EUR 1.5 billion Aker Yards has received an order from the Star Cruises subsidiary Norwegian Cruise Line for two cruise ships to be ...

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SEPTEMBER 7, 2006
Court relaxes prison term for ship engineer Appeals court ordering re-sentencing as lower court imposing new ship ban. Work begins to remove bunkers from 'historic ship' 75-year old fuel oil has been polluting Californian resort. DOE: Latest key US oil inventory figures Weekend move for London-based broker Davies & Newman Wake Ltd. will be at new address from Monday. Fuel oil glut could be a long-term feature of energy markets Demand for light, refined products is pushing up fuel oil output. Bunker prices increasing in Rotterdam market Chemoil announces new Singapore location Company moves and changes name to Chemoil International Pte. Ltd. Vysotsk: Ceremony marks completion of Lukoil terminal Ceremony this week to mark completion of construction of the LUKOIL-II distribution and transshipment complex on Vysotsky Island. Singapore: Fuel oil stocks drop to eight-week lows Inventories fall for the third week in succession. Oil company urged to do more as oil spill clean-up continues Philippine President pledges those responsible will be brought to justice.