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Shipping News

S'pore shipping body says 'no' to funding for straits' upkeep
PLAYING the Law of the Sea's 'international waterway' card, the Singapore Shipping Association has voiced its absolute opposition to any mandatory cost-sharing for the maintenance of navigational safety in the busy Malacca and Singapore straits.
Dalian Port, Modern Terminals in JV
DALIAN Port Co, operator of China's largest crude oil terminal, and Modern Terminals Ltd agreed to build deep-water container terminals in Dalian to tap the country's rising cargo demand.
Carnival profit rises on demand for Euro cruises
CARNIVAL Corp, the world's largest cruise-ship company, said first quarter profit rose more than analysts estimated because of demand for European trips.
Aker to book 2.9b kroner gain from stake sale
Korean shipbuilders' shares up on new orders

Port Shots

Port shots
DUBAI port operator DP World has completed the sale of its US operations, drawing the curtain on its controversial investment in the US, the official WAM news agency reported on Saturday.

web site

Shipping News

S'pore shipping body says 'no' to funding for straits' upkeep
PLAYING the Law of the Sea's 'international waterway' card, the Singapore Shipping Association has voiced its absolute opposition to any mandatory cost-sharing for the maintenance of navigational safety in the busy Malacca and Singapore straits.
Dalian Port, Modern Terminals in JV
DALIAN Port Co, operator of China's largest crude oil terminal, and Modern Terminals Ltd agreed to build deep-water container terminals in Dalian to tap the country's rising cargo demand.
Carnival profit rises on demand for Euro cruises
CARNIVAL Corp, the world's largest cruise-ship company, said first quarter profit rose more than analysts estimated because of demand for European trips.
Aker to book 2.9b kroner gain from stake sale
Korean shipbuilders' shares up on new orders

Port Shots

Port shots
DUBAI port operator DP World has completed the sale of its US operations, drawing the curtain on its controversial investment in the US, the official WAM news agency reported on Saturday.

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Matson, JB Hunt to move China boxes in time-definite manner Danaos orders five 6,500-TEU ships from Hanjin Heavy Industries NYK's Japan logistics subsidiaries to form single entity DP World raises stake in Vallarpadam CT to US$500m Container berth in Adelaide to open on Saturdays CEVA Logistics signs partnership with Rolls-Royce Marine Qantas looks to more cuts to fend off stiffer competition Cathay's CEO welcomes new appointment Volga-Dnepr comes to the aid of Boeing 787's production logistics

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UASC forms JV with Transworld Shipping Services MoS against creation of exclusive ship chartering cells in oil PSUs Maersk Djibouti's Chennai call kicks off upgraded MECL 2 service to USEC INTTRA delivers further operational efficiencies with UCA Link Freight Lines India opens branch in Indore DCI chief presents dividend cheque of Rs 13.19 cr. to Baalu HSL bags orders to build 10 bulk carriers S. S. Hussain assumes charge as JNPT Chairman DARCL to begin containerised rail operations from Sept. CONCOR wins MoU Excellence Award for 2 consecutive years IIM-Kolkata selected to prepare business plan for rail corridor project CIWTC disinvestment in govt's mind Hong Kong airport ranked the world's best Swelling wages projected Land acquisition policy for SEZs should be transparent-Nath Now, special agri zones proposed! FM to review ore export duty 80 farm products identified for tariff cut

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Crowley names Sweeney as vice-president safety and health Kalmar terminal tractors for Jebel Ali Port BA World Cargo launches first UK-based cargo operation into Trinidad ICA acuires Welz from Quehenberger

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MARCH 19, 2007
Intertanko distances itself from distillates Euro lawmakers worry ECSA DP World port sale complete Futures now worth US$56bn Products tankers grounds off Gib Golden Ocean buys and sells

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MARCH 19, 2007
New hope for Title XI? Hercules Offshore and TODCO set to merge Crowley plans to go private

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MARCH 19, 2007
Greenbrier reaches new deal with TrentonWorks employees Washington State Ferries holding fare meeting in Seattle Genco Shipping agrees to vessel time charter extensions APL moves to low-sulfur fuel for vessels calling Port of Seattle Hercules Offshore buying TODCO stock under merger plan

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MARCH 19, 2007
Drayton to succeed Cooke at Baltic GALBRAITH'S director will take over from incumbent Anthony Cooke after the annual general meeting in July. Exponent snaps up V.Holdings stake EXPONENT Private Equity is the new major shareholder in V.Holdings following the sale of the 50% stake held by Close Brothers Private Equity. Tanker 'safe' off Gibraltar "A POTENTIAL environmental calamity" was averted at the weekend after a laden double-hull handymax tanker ran aground off Gibraltar.

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MARCH 19, 2007
TUI merges with First Choice THE tourism division of German tour operator TUI AG is to merge with UK tour company First Choice to form one of Europe's largest tour operators Philip Lynch takes battle to ICG Marseilles disruption over LNG handling Aker Yards completes share sale Exponent moves into V.Holdings Owners reject Malacca toll proposal Crew tackle stricken tanker's list Polemis to warn of ballast chaos Polemis to push for 'compatibility' Marseilles repairer settles dispute Modifications benefit Gozo Channel

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MARCH 19, 2007
Hapag-Lloyd plunges to loss in 2006 Container carrier saw earnings plummet in 2006 on lower freight rates and higher fuel and inland transportation costs. Crowley settles suit, to go private EGL sold for $1.7B Danaos orders five box ships Tug workers strike again at Rotterdam A smarter smart box: What are we waiting for? FedEx raises LTL rates Cronos sees Q4 profit Europe View: Zero Hour for open skies Crewmen die in Fla. port NYK orders huge ore ships

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MARCH 19, 2007
Smit tug crews strike once more Smit Rotterdam harbour tug crews are on strike again, an action started on Saturday morning and ' as of this morning ' expected to last until Tuesday morning or even Wednesday morning. Dalian Port and Modern Terminals confirm co-operation in north Dayao Bay Dalian Port Company (PDA) today revealed a signed framework agreement with Hong Kong's Modern Terminals Company and the Dalian Municipal Port Administration Bureau. TUI shipping records '106.2m earnings loss in 2006 South Korea to raise port stevedoring fee by 3.6% Danaos orders five 6,500 teu vessels from Hanjin Heavy Industries Maersk Line becomes poster child for Chennai transhipment hub bid Seaboard Marine expands US Gulf/Caribbean service CIMC 2006 net profit grows 3.84% India to seek Russian funding for Vizhinjam project Malaysia agrees to study regional load port question

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MARCH 19, 2007
Crowley bids to go private US shipowner Tom Crowley is offering to buy out dissidents and other minority investors at a whopping $2,990 per share. Drayton takes Baltic chair Galbraiths' Michael Drayton lands chairman post at Baltic Exchange at time when future of indices is up for discussion. OMI has private offer Sources suggest private-equity sponsor made bid for Stamford company ahead of Friday's announcement that owner would explore sale. No further cut in UK dues Shipowners disappointed that charge for maintaining lighthouses will remain the same this year. V.Ships buy-out completed Managers team with UK private equity firm Exponent to leave former 50% owner Close Brothers with minority interest. Minoan Lines pushes on Greek ferry owner ups 2006 profit from record revenues. FSL Trust to fly Singapore shipping investment trust First Ship Lease Trust looking to bag $216m in IPO. Baosteel to partner CSSC Chinese steel group putting up cash to complete state shipbuilder's mega-yard on Changxing island. Scandlines owners disagree Deutsche Bahn and Danish government cannot decide on who to sell ferry company to. No holiday for TUI German tourism and shipping group slumps to huge loss as merger struck with First Choice of UK. Braila cuts losses Aker Yards' Romanian hull builder keeps costs rise below that of revenues in 2006. Tallink adds second Estonian ferry operator doubling up between Riga and Stockholm. Suez revenue raised February revenue figure increases as canal authority prepares for hike in transit fees in April. Hamworthy wins more LNG work UK gas systems maker will supply reliquefaction units to Daewoo and Samsung. RAL on a roll Greenland boxship player enjoys 2006 profit rise on higher volumes. Eight dead off China Search continues for missing nine as 12 rescued after two vessel collision off Zhoushan. Lynch targets Irish Ferries Irish investor's One51 snaps up 5.65% stake in ferry owner and could be a rival to management buy-out. Wozmax pair for NYK Japanese owner pushes boundary of ore carrier design with order for two 250,000-dwt ships. GOG buys and sells Golden Ocean Group has acquired panamax bulker newbuildings in India and sold two on order in China. Europe lifts Carnival First quarter profits up 13% at world's largest cruise firm despite pricing weakness in the Caribbean. China surpasses Korea Hunger for new bulkers sees Chinese yards win more orders in 2007 than their neigbours and rivals.

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MARCH 19, 2007
Danaos orders five 6,500-TEU ships worth $500 million MarAd, Vietnam sign maritime agreement U.S., Malta sign PSI agreement NYK orders two giant iron ore carriers Seaboard adding second ship to Colombia service MacAndrews adds calls on Swahili Express Continental backs U.S.-EU open skies agreement FedEx sets new LTL rates Norfolk Southern announces non-intermodal rate changes set for April Old Dominion to offer China service CSXT joins EPA's climate leaders program Hong Kong irreplaceable says Chinese premier Chiquita fined $25 million for paying protection to Colombian terrorists FCL Carrier starts North America/Afghanistan service APL converting ships to low-sulfur fuel in Seattle New Orleans signs marketing pact with neighboring parish Daito orders three "hybrid" RTGs

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MARCH 19, 2007
More turbulence in the Scandlines sale The sale of Scandlines has grounded on a new rock-solid disagreement between the two owners. The German part, Deutsche ... Svitzer tug sank off Swedish west coast SwitzerWijsmuller's tug Bohus grounded off the island of Orust on the Swedish west coast after an engine breakdown in rough ... Aker yards shares for NOK 4.9 billion Aker has sold its 40.1 per cent in Aker Yards for a total of NOK 4.9 billion (EUR 608.3 million ...

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MARCH 19, 2007
Bunker prices start to slide APL makes unilateral low-sulphur bunker switch Cuts of up to 80% in harmful emissions predicted as shipowner making fuel shift. Rotterdam market firm Rotterdam: High viscosity demand grows Petroval confirms it is taking more storage space to keep pace with 500 cst demand. Asian ship operators urged to discuss Malacca costs Voluntary funding needs further consultation: mandatory moves will not be popular, SSA says. Singapore bunker supplies improve Bunker fuel supplies have improved from one week ago; no signs of tight ex-wharf loadings.