TBS Int'l not affected by US slowdown: CEO Shipping company TBS International Ltd has not been affected by the slowdown in the United States as strong demand from China and other emerging economies continues to help the business, the company's chief executive said.
Mozambique plans ports upgrading Mozambique plans to invest US$900 million to upgrade two of its main ports as part of a drive to become a top regional shipping centre, the transport minister said yesterday.
Daewoo Shipbuilding to ramp up production Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipyard, said it will invest 163.2 billion won (S$223 million) to expand production of vessel parts at its South Korean yard. The investment at its yard in Okpo, which manufactures pipes and other components, will be made until March 2010, the Seoul-based company said in a regulatory filing yesterday. No details were given on the increased production capacity.
Strait Talk
Safer shipping a lasting legacy of the Napoli A YEAR ago last January, the UK-flag container ship MSC Napoli started to crack in two as she pounded through one of that winter's worst storms in the Western English Channel. As is now well known, the 4,419 TEU ship eventually ran ashore on the English coast at Branscombe Bay.
TBS Int'l not affected by US slowdown: CEO Shipping company TBS International Ltd has not been affected by the slowdown in the United States as strong demand from China and other emerging economies continues to help the business, the company's chief executive said.
Mozambique plans ports upgrading Mozambique plans to invest US$900 million to upgrade two of its main ports as part of a drive to become a top regional shipping centre, the transport minister said yesterday.
Daewoo Shipbuilding to ramp up production Daewoo Shipbuilding & Marine Engineering Co, the world's third-largest shipyard, said it will invest 163.2 billion won (S$223 million) to expand production of vessel parts at its South Korean yard. The investment at its yard in Okpo, which manufactures pipes and other components, will be made until March 2010, the Seoul-based company said in a regulatory filing yesterday. No details were given on the increased production capacity.
Strait Talk
Safer shipping a lasting legacy of the Napoli A YEAR ago last January, the UK-flag container ship MSC Napoli started to crack in two as she pounded through one of that winter's worst storms in the Western English Channel. As is now well known, the 4,419 TEU ship eventually ran ashore on the English coast at Branscombe Bay.
Kolding does not rule out Hapag bid - but not priority MAERSK Line chief says possibility of bidding for Hapag-Lloyd should not be excluded, but is not top of wish list.
Hapag-Lloyd sale a 'one-off', says Seaspan's Gerry Wang
Nordea and DnB Nor shipping loans hold steady MIXED fortunes for Scandinavian banks, but lending to shipping increase in first quarter.
Clarkson doubles Russian litigation provision CLARKSON sets aside further '8m against claims by Sovcomflot and Novoship after discovery of 'new evidence'.
Clarkson doubles cover against suit SHIPPING services group Clarkson has more than doubled its provision against claims from Sovcomflot and Novoship
Cairo company fined for dumping CAIRO-based National Navigation (NNC) has been fined $7.25M after admitting several of its chief engineers and crew members dumped oily waste from six ships off the US Pacific and Gulf coasts
US, France pose Resolution on Somalia THE US and France, backed by the UK and Panama, yesterday introduced a draft Resolution to the UN that would rally maritime nations to tackle piracy off Somalia.
Tropical Shipping acquiring Caribtrans Ocean carrier deals for provider of LCL and FCL consolidation services from the United States to the Caribbean and Central America.
Expand U.S.-flag fleet, says ARRC's Ebeling
Fesco boosts earnings
BNSF profit up 30%
Ocean traffic up but Panalpina earnings dive
WWL names ro/ro ship
American business in China argues against U.S. protectionism
Coast Guard to the rescue Footage shows the medevac of an 83-year-old Royal Caribbean passenger off the coast of North Carolina.
US requires LRIT Coast Guard issues final rule requiring ships to electronically transmit identity and position.
Double Hull plunges Following a share sale announcement, Double Hull Tankers sees its shares drop by 13.3%, as the shipping sector feels a bearish day on Wall Street.
TCE-lation Morton Arntzen-led Overseas Shipholding Group trumpets highest-ever TCE revenues as profits jump by 33%.
Boxships booming for CCHC A surge in domestic container shipments helps Tianjin-based giant pocket $878m in the first quarter of 2008.
VLGCs dampen Exmar Belgian gasship owner's profits drop as the very large gas carrier market and US dollar exchange rate eat away earnings.
Suez pile-up as ship grounds German operator of multi-purpose vessel remains mum on reports of grounding in Egyptian waterway.
Navios' estimate cut Lazard Capital Markets lowers US-listed bulker owner's per-share earnings forecast by 19%.
US insurer's profit jumps First-quarter profits at Nasdaq-listed Navigators Group swell by 18% even as gross premiums drop.
Cosco Pacific profits surge Chinese terminal operator sees 17% profits jump as container throughput grew.
Ocean Rig back in black Economou takeover target returns to profitability but falls short of market expectations.
Ferry officer appeals conviction Strait Shipping mate/master denies responsibility for not reporting near-grounding in New Zealand.
Dyrhaug fills the gap Green Reefers vice chairman steps up to top role after Toril Eidesvik becomes temporary CEO.
Desgagnes orders in Croatia Kraljevica to build Deltamarin- designed vehicle/container carrier for Canadian owner.
Clarkson's new '8m provision "New evidence" forces London broking shop to more-than double provision in legal wrangle with Russian owners.
Fulford-Smith wants closure Clarkson chief says travails with Russian owners best put behind it as share price continues slow fall.
Fesco in the money Russian boxship owner plans share sale to fund acquisitions as 2007 profit rises 58%.
BW Offshore gets equal split Oslo-listed FPSO specialist bags $1.5bn loan the day after its gasship sibling got a cash injection from major shareholder.
Bullish about bulkers Apeejay Shipping's Mahapatra is not all doom and gloom about the newbuilding order backlog
Brostrom barely breaks even Weak tanker spot market and soaring expenses send first-quarter net profit plunging at Swedish owner.
Fredriksen holds all the aces Seadrill is in a win-win position as it battles for control of Scorpion Offshore, analyst says.
Pay boost for CSC workers Caspian Shipping workers to pocket extra 30% to mark birthday of former Azeri leader Heydar Aliyev.
Bohai wins Sasco double Chinese yard to build two boxships for Russian owner for delivery from 2010.
Karachi yard building again KSEW starts vital work on tanker/utility ship for Pakistan's navy as top brass turn out.
Aker American losses widen Lower US interest rates hurt Jones Act owner as first quarter profits slip further into the red.
Daewoo puts money into parts Korean shipbuilder to expand Okpo plant further with $164m investment.
TMM deeper in red Spiralling costs and higher debt double loss in first quarter at Mexican owner eyeing tonnage growth.
Deficient duo held in Canada Gulf Management OBO and Konvoy Maritime general cargoship the only ships on March detention list.
Ferry jumper rescued in Solent UK Red Funnel vessel saves man who leapt from sistership on run to Southampton.
Numbers up at NOL Singapore liner outfit reports another trading period of double-digit growth in volumes and rates.
Cosco details bulker order Chinese shipping giant provides more details about recent orders for nine supramax bulkers.
APM ties up port deals Maersk port operator assumes control of Brazilian facility and inks Vietnam construction deal.
Finnish shipowners join forces The Finnish shipowners' associations Finlands Rederif'rening, Fraktfartygsföreningen and Ålands Redarförening has agreed on a merger in a new organisation named Suomen Varustamot ry ' Rederierna i Finland rf form 1 June 2008. The new organisation will have offices in Helsingfors and ...
Åbo'Stockholm train ferry service secured The railway ferry service between Finland and Sweden has been secured since the railway operators Green Cargo and VR has signed an agreement with Tallink Silja, that reportedly is selling its stake in the jointly owned SeaRail. This company markets ...
Norway to build new polar research vessel Rolls-Royce has been given the task to design a new polar research vessel by the Norwegian Institute of Marine Research. The vessel will be designed to operate in up to one metre thich ice in Arctic and Antarctic waters ...
Bahamas terminal sale completed Acquisition announced with Vopak taking naming rights, expansion planned.
Tanker operator sees operating costs soar Bunker prices and a weak US dollar hits Brostr'm's bottom line.
Weak US dollar threatens smaller bunker players Bunker industry observer says traders operating cash is 'disappearing'.
Rotterdam market MDO still very tight
Russian oil giant forms new bunker arm Rosneft has set up RN Bunker as a wholly owned subsidiary.
Refinery upgrade will pressure fuel oil supply Korean's SK Energy details plans for new hydrocracking unit. Players warn regional fuel oil market will tighten.
Titan's credit ratings downgraded Standard & Poor's expects company to remain under 'financial pressure' over the next 12 months.
Aegean to boost European fleet New bunker tanker to commence delivery in Antwerp in June.
AADA to hike bunker surcharges Members of the Asia Australia Discussion Agreement agree to up surcharges on China/HK-Australia routes.
Singapore suppliers warn of pilot shortage Ships now spend more time waiting for their bunkers in Singapore.
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