Hanwha's Daewoo bid raises funding worries Hanwha Group's successful bid for the world's third-largest shipbuilder raised concern the South Korean industrial company may struggle to raise funds for the buyout amid the global financial crisis.
Maersk to cut by 10% Asia-Europe capacity A P Moeller-Maersk, owner of the world's largest container line, will cut shipping capacity between Asia and Europe by 10 per cent as the global economic slowdown slows demand growth.
Japanese shipowners profits soar, but forecasts cut JAPAN'S big three shipowners all reported soaring profits for the first half, but both Mitsui OSK Lines and K Line cut their full year profit forecasts.
Maersk cuts nine ships from Asia-Europe trade
Sinotrans-CSC Group merger gains approval SINOTRANS Group and China Yangtze Transportation Group (CSC Group) have gained government approval for their merger proposal.
Noble set for highest ever quarterly profit HONG KONG's Noble Group says it is set to report its highest ever quarterly profit.
Hanwha a surprise pick for Daewoo Daewoo's facilityHANWHA has been picked as the preferential bidding group for a controlling stake in Daewoo Shipbuilding & Marine Engineering
London shipping stocks take hit NASDAQ shipping stocks geared down in London today on the global equity downturn
OPEC trimming output OPEC agreed today to cut oil production by at least 1.5M barrels a day from its current production ceiling
French seize nine pirate suspects NINE MEN suspected of being pirates have been captured by the French navy and handed over to Puntland officials in northern Somalia
Gulfport plans LA-scale box expansion GULFPORT in Mississippi ' which was virtually levelled by Hurricane Katrina ' might become one of the world's largest box ports after this morning's approval of a $1.6Bn expansion
Irish sea operators cut services TWO IRISH Sea ferry operators plan to cut services in half between Wales and Ireland because of cost rises and the onset of winter
IMO numbers for paddleboards? US COAST Guard commanders have decided to classify paddleboards as vessels when they are used in navigational waters
How deep will the cuts need to be? A week is a long time in politics, stock markets and the shipping industry! In a momentous week for global container trades we have witnessed normally bullish ocean carriers jockeying for position to announce capacity reductions. Like the embattled 12-members that comprise the Organisation of the Petroleum Exporting Countries (Opec) cartel, ocean carriers are fighting to halt a price slump in their product and trigger a recovery by means of a hard pruning of supply.
Box Charter market in freefall
Maersk Line cuts Asia-Europe supply to ensure 'long-term' sustainability
Russians interested in Stella It looks like the ferry service between St. Petersburg and Helsinki might continue quite soon. According to the local news of Yle's Kymenlaakso radio two Russian companies and the city of St Petersburg would be interested in buying half of ...
Compensation to crews in the Gulf of Aden Crew members on DIS registered ships belonging to owners in the Danish Shipowners' Association will be paid a compensation when passing the MPSA corridor (Maritime Patrol Security Area) in the Gulf of Aden. The crew members will have an extra ...
Nine pirates in custody The French navy has seized nine suspected Somali pirates and handed them over to the judical system in the semi-autonomous Puntland region in Somalia. ' These pirates had two armed speedboats and wanted to hijack ships off Somalia waters. The ...
Fuel oil production to fall Russian oil ministry official predicts cut of almost 17%.
Company ends bunker surcharge Royal Caribbean says it is reacting to global fall in bunker prices.
US prices continue to slide with crude Houston at new low but West Coast avails hold numbers up.
Shipping line sees bunker costs 'moderate' Horizon Lines says 'strict fuel conservation' is helping during 'this difficult economic period'.
New contact details for Energy Petrol
Wartsila ready to meet IMO targets But engine manufacturer warns of 'skills shortage' as ship operators seek to improve efficiency and reduce emissions.
NuStar announces 'outstanding quarter' Supplier and terminal operator seeing increase in marketing sales.
Global bunker market report
French shipping company faces criminal charges Fines being faced following fuel spill in US port.
OPEC cut 'not enough' Oil slides further despite quota cut aimed at halting price collapse.
Singapore bunkers at 19-month low Bunker prices end week with more losses at most Asian ports.
ARA - Many suppliers fully booked till Tuesday
Fishermen asked to share fuel saving ideas Survey to study how Alaskan fishermen cope with record bunker prices this year.
Brightoil prepares for Hong Kong entry Bunker supplier says Hong Kong will contribute 'increasingly significant portion' of group turnover.
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