China Shipping plans to order dry-bulk ships China Shipping (Group) Co, the nation's second-biggest sea- cargo company, plans to order dry-bulk ships this year as prices fall on overcapacity concerns and the global recession.
Magnate wins presidential vote in Panama Conservative supermarket magnate Ricardo Martinelli won Panama's presidential elections in a landslide on Sunday, promising to guide the country through the world economic crisis and an ambitious expansion of the Panama Canal.
Seoul destroyer goes to aid of North Korean ship A South Korean Navy destroyer chased Somali pirates from a North Korean cargo ship off the African coast in the country's first such operation abroad, military officers in Seoul said yesterday.
Hyundai shares rise on rosier prospects
French naval ship captures 11 suspected Somali pirates
Number of laid-up bulk carriers falls THE number of bulk carriers in lay-up or idle at ports around the world fell in April, as a combination of Chinese demand for iron ore and better freight rates saw unemployed ships resume trading.
Fench navy captures 11 pirates after attack on frigate AT LEAST one vessel was confirmed to have been hijacked over the weekend and 11 pirates are still in custody aboard the French frigate Nivose, after mistaking the ship for a merchant vessel and attacking it.
Vessel sales boost OSG earnings LEADING US tanker operator Overseas Shipholding Group has emerged from the first quarter with improved earnings but only thanks to a hefty gain on vessel sales.
Shell in Argentine spill payout ROYAL Dutch-Shell's Argentine subsidiary Shell CAPSA today agreed to pay $9.5M to the town of Magdalena for damage caused to its shoreline following a collision on the River Plate 10 years ago
Pirates hijack British bulker A BRITISH-owned bulker carrying 35,000 tonnes of soya has been hijacked off the Seychelles
OSG revenues stumble TANKER giant Overseas Shipholding Group reported a 22% drop in quarterly revenues today, citing a fall in spot rates, particularly for its VLCCs
Cruising tightens flu screening THE CRUISE industry has implemented enhanced screening procedures to protect against passengers coming aboard with swine flu
Jones Act awash in lay-ups OVERSEAS Shipholding Group disclosed today that three of its US-flag petroleum carriers have been laid up and estimated that many more Jones Act tankers are following suit
Dante's wrath batters Philippines A TROPICAL storm that hit the Bicol region in the Philippines has left thousands of people and vehicles stranded in various ports
UAE vessel seized by pirates SOMALI Pirates have seized the general cargo ship Al Mezaan, reports the NATO Shipping Centre
Wall St jumps OceanFreight leads shipping stocks in upward charge in broad rally on New York markets.
Shell settles Dutch oil major forges $9.5m settlement with Argentine city for 1999 oil spill after a tanker hit a German containership.
Half to fail Up to 50% of offshore newbuildings expected to enter the market this year will fail to arrive on time, says David Bichard.
Not a cargoship Eleven Somali pirates approach what they think is a commercial vessel, but this ship had guns, a helicopter and a contingent of the French navy.
Sales save OSG A $129.9m profit from vessel sales leads Morten Arntzen's OSG to improved first quarter profit as revenue tumbles.
Challenge ahead Overseas Shipholding Group's US-flag spin-off, OSG America, reports improved profits but CEO warns that the remainder of the year could be tough.
Call for arms After being held hostage off Somalia, Capt Richard Phillips tells US Senate he wants officers armed.
No dry rerun Troubled tanker market will not follow in dry-cargo's footsteps, but overcapacity will not be avoided by newbuilding cancellations and delays, top analyst says.
Bargain hunt US dollar buyers are well placed to pick up good deals in the offshore sector, broker says.
Deadline looms Nexus in need of a Cinderella story as FPSO faces being left on the shelf from midnight tonight.
Less for Grieg Norwegian group sees bottom line tumble year-on-year after 2007 figure was inflated by vessel sales.
Cosco converts Singapore-listed yard inks deal with Mitsui Ocean Development to switch VLCC into an FPSO.
Demolition dearth Ship scrapping deals remain thin on ground as buyers still unwilling to accept lower levels.
Bad to worse Struggling Malaysian tanker owner Nepline increases 2008 pre-tax loss by 2400% after sale deals fall through.
April a shower Spot AHTS rates show 45% year-on-year fall as April earnings only just creep above 2005 levels in the North Sea.
Secondhand curb Indonesian industry ministry wants to cut maximum age of vessel imports from 25 to 15 years over safety concerns.
Strong start Taiwanese bulker owner enjoys better investment income in first quarter as profit rises.
Mercy Pakistani vessel - carrying Somali-owned food cargo - seized on Saturday could soon be freed by pirates.
South saves North South Korean navy chases off pirates circling North Korean vessel off Somalia.
Yard interest Assets of Poland's Gdynia and Szczecin shipyards attract interest from 35 bidders, including shipbuilding businesses.
Keppel cancels Singapore yard forced to cancel multi-purpose newbuilding deal after owners fail to raise funds.
Panama introduces cost reductions The Panama Canal Authoritiy (ACP) has decided to introduce temporary cost reductions for vessels passing through the canal. The reductions willo take effect on June 1 and continue through September
Phillips wants to arm crews Richard Phillips, master of the Maersk Alabama which was hijacked by pirates, said in a US Senate hearing that he believes that the four most senior officers on a vessel
Pirates expanding On Thursday last week, a piracy attack took place more than 1,100 nautical miles off the Somali coast. The 1,604 TEU Turkish container vessel Carina A, built in 2007, was
Nordic Tankers with new CEO and fight with a former one Nordic Tankers A/S has engaged Jens Pontoppidan (34) as new CEO of the company. Pontoppidan will replace Flemming K. Sørensen, who took up the position in January after the
Lauritzen heir steps in as head of JL Foundation The JL Foundation (JL-Fondet) has appointed a Lauritzen heir as chairman of the foundation, which is the controlling owner of the J. Lauritzen Group (including DFDS). The new chairman
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