P&I club ends row with GIO THE Liverpool & London Steamship Protection and Indemnity Association has reached a final settlement in its dispute with Godfrey Merritt Robertson, the Lowndes Lambert Group and Lowndes Lambert Marine, in relation to the club's reinsurance dispute with Australia's GIO.
Zurich Re rumoured to be up for sale REPORTS emerged in London over the weekend that Zurich Group's London reinsurance arm has been put up for sale.
$1.3bn leap of faith in port of Maputo AFTER many months of indecision and delays, and to some degree general bureaucratic dawdling, the long-awaited green light has been given for the development of a $1.3bn aluminium smelter plant just outside Maputo port in Mozambique.
India transport set for major budget boost INDIA'S Ministry of Surface Transport (MoST) is likely to receive a rise in allocation of around Rs20bn ($503m) in the forthcoming budget.
Itainvest yards up for sale ITALIAN state-owned investment company Itainvest has begun privatising its two fully-owned shipyards, Marina di Carrara-based Nuovi Cantieri Apuania and Industrie Navali Meccaniche e Affini in La Spezia.
Tirrenia set to order two new Jupiter ferries ITALIAN state-owned ferry company Tirrenia is soon to place a Lire250bn ($143m) order with Fincantieri to build a third pair of Jupiter MDV 3000 class fast ferries, writes Giovanni Paci, Milan Correspondent.
Patrick talks restart in bid to end dispute PATRICK stevedores and the Maritime Union of Australia are expected to restart private talks today, aimed at breaking the impasse on the Australian waterfront dispute.
Why the news is not always what we make of it HISTORY, according to that infallible textbook of British history, "1066 and all that ", is not what happened. It is what you remember.
Legal battles to continue Further legal challenges will be heard in the Federal Court this week as parties to the dispute between Patrick and the Maritime Union of Australia attempt to outmanoeuvre each other. Justice Tony North will hear an application by the MUA to have the administration of the four labor supply firms terminated on Thursday and Friday. This will be ahead of the union's application to have the companies put in receivership which will be heard June 9, the same day as a critical meeting of Patrick creditors.
Breakthrough agreement between AHEA and lines The Australian Horticultural Exporters Association has reached a "partnership" agreement with the Australia-South-East Asia Trade Facilitation Group conference lines aimed at helping a managed recovery in historically-low freight rates. The AHEA said the agreement contained a freight schedule "on a stepped basis to ensure recovery over the next three years with an ability to review rates biannually to evaluate the rate of recovery and commercial sustainability".
P&O Nedlloyd's newbuilding gets big Sydney welcome P&O Nedlloyd Line's latest newbuilding, the 2,900 teu containership P&O Nedlloyd Sydney, arrived at Sydney's Overseas Passenger Terminal on Friday in a style usually reserved for passenger vessels. Guests at the naming ceremony were welcomed by the general manager Australia, P&O Nedlloyd Ltd, Bob Kemp, following which the national anthems of Australia and the Netherlands, her country of registration, were played.
FreightCorp cuts more jobs The workforce of NSW rail freight operator FreightCorp is set to be cut further following revelations that the government-owned operator is mid-way through a new review of staff levels required at all of its terminals and yards. The company denied there could be forced redundancies from its Job and Work Redesign project, but rail unions claim that hundreds of regional jobs could be wiped out under the restructure plans.
Stable rates vital says COSCO chief The need for rate stabilisation was stressed in Sydney on Friday by the vice president of the China ocean Shipping (Group) Company Gao Weije. Mr Gao said the current level of freight rates in the region was very competitive and the consensus among the chief executives who attended the forum was the need for cooperation in order to that the trade could be stabilised.
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