BRIEFS

web site

Shipping News

Mitsui OSK planning 600b yen expansion
MITSUI OSK Lines Ltd, Japan's second-largest shipping company, plans to spend a record 600 billion yen over three years to meet growing demand for marine transport.
S&P downgrades PSA's credit rating to 'AA'
STANDARD & Poor's Ratings Services said yesterday it lowered its corporate credit rating on Singapore's PSA Corp Ltd, the operator of the world's largest container transshipment hub, to 'AA' from 'AAA'.
Emirates Shipping to start US-China services
EMIRATES Shipping Line, a container shipping company from Dubai that started operations last month, will begin to move cargo between the US and China in June, tapping the export demand from Asian countries.

Admiralty Casebook

Bill of lading arbitration clause bypasses voyage charterparty
THE Hong Kong High Court last week ordered a cargo claim to be stayed in favour of arbitration proceedings in London but the decision was not before a debate over which charterparty should apply to the bill of lading.

web site

Shipping News

Mitsui OSK planning 600b yen expansion
MITSUI OSK Lines Ltd, Japan's second-largest shipping company, plans to spend a record 600 billion yen over three years to meet growing demand for marine transport.
S&P downgrades PSA's credit rating to 'AA'
STANDARD & Poor's Ratings Services said yesterday it lowered its corporate credit rating on Singapore's PSA Corp Ltd, the operator of the world's largest container transshipment hub, to 'AA' from 'AAA'.
Emirates Shipping to start US-China services
EMIRATES Shipping Line, a container shipping company from Dubai that started operations last month, will begin to move cargo between the US and China in June, tapping the export demand from Asian countries.

Admiralty Casebook

Bill of lading arbitration clause bypasses voyage charterparty
THE Hong Kong High Court last week ordered a cargo claim to be stayed in favour of arbitration proceedings in London but the decision was not before a debate over which charterparty should apply to the bill of lading.

	web site

CMA CGM signs up for 10-year stretch at Hampton Roads Port Further cash injection for Yantian West Port Bank loan for Taicang port Phase 2 China Shipping to focus on W Asia market India's Sheyras Shipping pioneers direct Karachi service POAL chairman to retire at end June IHG's status quo to remain after takeover by Rhenus Nasdaq delists World Air Holdings stock United Airlines appoints four new officers

	web site

ABG Shipyard Ltd posts spectacular results in FY 2006 Greatship signs MoA to acquire 2 PSVs Shreyas Shipping & Logistics posts 34 pc jump in net before tax Finance Ministry's panel for including service tax on inputs in drawback rates Basmati exports to EU to resume Committee to be set up to boost textile exports JNP continues to rise to new challenges as it celebrates 17th anniversary MCA draft on PPP in railway container operations may be ready in June Lalu lists reasons for record freight haul in 2005-06 Maran: We'll facilitate setting up of telecom SEZs Foreign Trade Policy Analysis: Current Trends - By M. Sreedharan CII carrying out 'Operation Overhaul' Citibank offers 'CitiBusiness' for SMEs & professionals

	web site

Duchesne celebrating ten years with Ports Francs et Entrepôts de Genève East Asia container port growth to continue Lufthansa Cargo relocates warehouse activities in Istanbul FedEx may buy Watkins Christian Salvesen to manage Weight Watchers home deliveries Model US idling law Kannaltec to promote Inttra in Malaysia Eurocargo 2006 in Cologne 30 May to 1 June

	web site
MAY 25, 2006
Eurofin in veg oil tanker deal BV hits 50m gt mark DP World integrates P&O into management structure Slight rise in UK ports throughput Cambodian-flag ship's inspection fiasco ABPH sells US port business

	web site
MAY 25, 2006
Greenbrier closes offering of convertible senior notes Untreated sewage spill hits Port Angeles Harbor Astoria-based Coast Guard technician wins health services honor for 2006 NYK opening own office to oversee agency duties in Russia Washington State Ferries installing new ticket system

	web site

ABP cuts loose Amports in $108m sale A sorry eight-year saga has come to an end for Associated British Ports, target of a '2.5bn ($4.4bn) takeover approach from a consortium led by Goldman Sachs, with the sale of its US business Amports for $107.8m. Woods bows out in DP World reshuffle FORMER P&O boss Robert Woods is standing down from an executive position in DP World earlier than expected as the Dubai company puts together a new global management structure and prepares to take on the world's top two port operators. Pacific King blames state of market for shelving flotation LOG carrying specialist Pacific King Shipping has postponed its controversial initial public offering on the Singapore Exchange, blaming poor market conditions. Small investors take shine to PST PACIFIC Shipping Trust's initial public offering was about 1.5 times oversubscribed as small investors took a shine to the ship finance vehicle, writes Marcus Hand in Singapore. Farcus displays funnel vision JOE Farcus, long-time interior designer for Carnival Cruise Lines and Costa Crociere, has designed the funnel for the Carnival Splendor, the 3,006-passenger, 112,000-ton cruiseship now under construction at Fincantieri's Sestri yard, writes John McLaughlin.

	web site
MAY 25, 2006
ITF blasts PNSC union busting A steering group meeting of the ITF's Fair Practices Committee has issued an emergency resolution blasting Pakistan's Shipping Master for what it described as "a blatant case of union busting". Complacency is major threat to safety COMPLACENCY is one of the greatest concerns for safety of merchant vessels, says the head of the UK's Marine Accident Investigation Branch DP World restructures after P&O deal DP World, the Dubai, UAE-based terminal operator, has restructured its business organisation following the £3.9Bn ($7.3Bn) takeover of P&O ABP sells US operations UK port operator ABP, currently the subject of a '2.44Bn ($4.57Bn) take-over bid from a consortium led by Goldman Sachs, has sold its US division Amports Eurofin targets edible oil niche SHIP finance adviser Eurofin has launched a $100M investment fund, Merlin Tankers, which is dedicated to the edible vegetable oil trade Vinashin restructures VIETNAM is to restructure its shipbuilding industry, with Vinashin to become the key element in a new Vinashin Group Dubai base for China Shipping Keppel pleads guilty in Almudaina case India seeks major grain shipment SA union calls for sympathy strikes RCCL pledge to southern Caribbean Temas Line aims higher

	web site
MAY 25, 2006
PierPass diverts 2M trucks in So. Calif. Off-peak truck movements now account for more than 35 percent of the traffic moving through the nation's largest container complex. Dismissal sought in ILA racketeering case ILA: No plans to re-open contract ABP sells U.S. Amports unit Wheeler to direct Georgia ports trade development After fire, Lufthansa relocates Istanbul warehouse Intermarine expands capacity "K" Line plans ship management, training upgrades Texas collision claims ABS CFO Bauerle CSX considering Midwest intermodal hub Diana Shipping signs for $300M credit facility

	web site
MAY 25, 2006
Marubeni confirm interest in Ust Luga projects, including box-terminal Japan's Marubeni Corporation have become the latest investors to show interest in port projects in Northwest Russia, and have confirmed that their interest includes the container terminal at Ust-Luga port. North Korea cancels cross-border train trial A trial of two inter-Korea trains, due to be attended by minister-level guests, was cancelled by North Korea yesterday, before the trial's scheduled run today. Santos: Customs join nationwide strike for 24 hours Dongnama to offer more China services Stevedoring group to reorganise terminals at Novorossiisk Sepetiba makes leap of faith Shreyas expands box service to Karachi DPW restructure sees Robert Woods' retirement

	web site
MAY 25, 2006
Keppel pleads guilty Keppel Shipyard Ltd has pled guilty on charges arising from a deadly fire on a suezmax tanker. Quintana deal leads poll TradeWinds readers are impressed by Stamatis Molaris' adroit acquisition of 17 bulk carriers from the astute Theodore Angelopoulos. Olsen buys NCL ship Fred Olsen Cruise Lines is buying the 34,000-gt Norwegian Crown (built 1988) from Star Cruises. Pacific King axes IPO Poor stock market blamed for postponing of Singapore bulker owner's flotation. Analysts down on Frontline Norwegian tanker giant's first quarter operating profit will take a dip, if market watchers are to be believed. Samos makes Pythagoras profit Greek owner sells 2002-built bulker for $14m more than it paid to acquire it. Carnival ship stalls Hundreds of passengers held up during repairs to stalled Carnival cruise ship in the South Pacific. Diana ups loan deal Revised $300m revolving credit facility could signal a spending spree for US-listed dry-bulk owner Diana Shipping. Swissco signs for two more Singapore offshore owner to build another anchor-handler in China, plus a barge. ABP exits US UK ports group pockets $107.8m from sale of US operation Amports to equity fund. Italian job done? Pietro Barbaro appears to have made a tidy profit on a $53.5m handymax tanker re-sale to Gebab of Germany. TMT chips in for one Taiwan Maritime Transport continues its spending spree with the $14m purchase of a 44,000-dwt chip carrier from Japan. Grindrod juggles fleet Three vessels ordered and six sold off as South African owner re-aligns itself in the market. Turkey snubs Ofer again Court cancels shipowner's purchase of refinery stake four months after scrapping bid for cruise terminal. ABG earnings rise again Full-year figures show listed Indian shipbuilder improving profits and revenues. Remoy declares option Norwegian owner orders second gas-propelled coastguard vessel from Myklebust Verft. CSG moves into Dubai Chinese giant's new holding company to run feeder services from Middle East to Asia.

	web site
MAY 25, 2006
Grand Alliance moves to Amsterdam amid Rotterdam delays Intermarine charters two heavy-lift cargo ships Fire destroys air cargo terminal in Turkey BA World Cargo changes schedule, drops fourth freighter United plans Washington D.C./Kuwait flights Con-way Freight promotes Siffer IGL makes senior appointments DP World announces new regional management structure ICTSI's 1st quarter net income up 41% Virginia signs 10-year contract with CMA CGM

	web site

Rustbucket caught again The Honduras registered general cargo vessel "Allora" continues to sail in North European waters. In November last year the vessel ... No further escalation of Norwegian strike Norwegian deck officers serving on domestic ferries and passenger vessels have no intention of escalating the strike, which now involve ... Two Danish tugs is towing fish in the Mediterranean Towing Company Jens Alfastsen, Horsens, has started its fifth season supporting fishing vessels in the Mediterranean. This year the tugs ...

	web site
MAY 25, 2006
US markets congested ahead of long weekend Prices moving as suppliers reporting steady demand but few prompt opportunities until next week. Doubts raised about scrubber efficiency Low alkalinity in the Baltic Sea would make scrubbers in their current form impractical says W'rtsil'. Iran jitters send crude back above $70 Geopolitical jitters combine with low US gasoline stocks ahead of peak driving and hurricane season to push crude higher. MOL: Earnings at risk if crude stays above $70 Japanese shipping firm says each $1 increase in average bunker fuel cost cuts profit by ¥300 million, but embarks on big expansion. Singapore: Stocks of residual fuels up, distillates down Singapore: Demand tame for low sulphur bunkers Singapore suppliers have noticed no ripple effect in terms of demand from the implementation of the first SECA.