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Shipping News

Half of world's piracy attacks in region
PIRACY and armed robbery attacks on ships continued its well-worn trend over the first nine months this year, with 56 per cent of the 251 actual and attempted pirate attacks world-wide occurring in neighbouring waters.
Semco's salvage feat saves bulk carrier
FIRES burning deep within the cargo holds of the bulk carrier Nina, loaded with 58,600 tonnes of coal, were extinguished recently after a five-day salvage effort which included grounding the vessel and flooding its cargo holds.
Precious Shipping Q3 profit jumps 119%
THAI dry bulk carrier Precious Shipping said yesterday its third-quarter net profit more than doubled due to higher freight rates on the back of robust global trade.
Top Tankers to buy five vessels for US$256.5m

Admiralty Casebook

US court says price-fixing charges arbitrable
AUS appeals court last week stalled a major class action by a group of bulk chemical traders against four giants in the parcel tanker industry with its ruling that the damages claim for price fixing ought to first go to arbitration.

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Shipping News

Half of world's piracy attacks in region
PIRACY and armed robbery attacks on ships continued its well-worn trend over the first nine months this year, with 56 per cent of the 251 actual and attempted pirate attacks world-wide occurring in neighbouring waters.
Semco's salvage feat saves bulk carrier
FIRES burning deep within the cargo holds of the bulk carrier Nina, loaded with 58,600 tonnes of coal, were extinguished recently after a five-day salvage effort which included grounding the vessel and flooding its cargo holds.
Precious Shipping Q3 profit jumps 119%
THAI dry bulk carrier Precious Shipping said yesterday its third-quarter net profit more than doubled due to higher freight rates on the back of robust global trade.
Top Tankers to buy five vessels for US$256.5m

Admiralty Casebook

US court says price-fixing charges arbitrable
AUS appeals court last week stalled a major class action by a group of bulk chemical traders against four giants in the parcel tanker industry with its ruling that the damages claim for price fixing ought to first go to arbitration.

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Safmarine changes Safari service Hatsu holds first global strategy forum NVOCCs benefit from Federal Maritime Commission ruling Vancouver appoints government liaison director New RoRo China express service launched by WW Yingkou poised for massive development Boeing bullish on China airfreight market Malaysia begins KL-Stockholm-NY service Hainan Airlines orders eight Airbus planes SAS 3Q profit drops Volga-Dnepr Airlines moves heavy oil processing equipment

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DCI may have to shell out Rs 58 cr. countervailing duty on spares Stability in Iraq will spur traffic in dry bulk commodities, says Thai shipping expert Seabird CFS' bonded warehouse notified Dedicated corridor for freight traffic planned Mumbai's inland water transport system could be operational in 3-4 years, MSRDC official tells BCC&I panel Govt yet to issue notification on onion exports Finance Ministry starts spadework on 2005-06 Budget Plan panel official for using forex reserves to upgrade infrastructure Power Ministry plans import of 10 m tonnes of coal a year Govt to look into exporters' problems Petronet to float global tenders for Dahej terminal expansion, Kochi projects

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NOVEMBER 4, 2004
Gunvor arb booking eases over-supply fears in Europe Booking of 275,000 mt fuel oil arbitrage cargo from Baltic to Singapore in late November and other cargoes ease market fears of supply surplus following US arb closure. Italian demand takes its toll on local avails Buyers have been active in the last couple of days as prices dropped. Rotterdam steady at noon Singapore: Onshore stocks of residual and distillate fuels fall Onshore stocks of both residual fuels and middle distillates fell in the week ended November 3. Vopak chief: China will play a different role to Singapore Chairman of Vopak's executive board says that China will play a bigger part in the company's investments in the future but it will play a different role to Singapore. FSU: Black Sea fuel oil exports leap 53% in October Black Sea fuel oil exports from FSU ports leap in October compared to fewer exports from the Baltic. Huangpu: HSFO prices to come under pressure as demand weakens The region's major end-users of 180 cst high sulphur fuel oil (HSFO) are cutting their requirements and switching to cheaper alternatives.

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LR class for BP's LNG carriers Jurong to build boxboats Freight rates push up Precious' Q3 profit U-Freight hails NVOCC rule change

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Morgan Stanley sounds alarm on tanker rates A WARNING that the tanker industry could face a deteriorating rate environment in the second-half of next year has been issued by Morgan Stanley, a leading US investment bank. Soft landing predicted for dry bulk as China slows down DRY bulk freight rates are expected to be lower next year as China slows its economic growth, but shipping executives are predicting a "soft landing". P&O terminals face squeeze with record cargo worldwide P&O's container terminals around the world are mostly working flat out to handle unprecedented cargo volumes, with congestion a common feature during this year's record breaking peak season.

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NOVEMBER 4, 2004
French protest over crew changes SEAFARERS' unions at French national gas company Gaz de France have threatened to intensify their protests against the replacement of some French seafarers with Filipinos Puerto Rico votes for governor THE provisional outcome of the Puerto Rico governor race has two key impacts for shipping Top adds five Essar Suezmaxes TOP Tankers continues to pursue a rapid-growth strategy, announcing five acquisitions from India's Essar Shipping yesterday P&O Ports figures remain strong THIRD quarter trading updates for P&O have shown a strong performance from P&O Ports, a struggling ferry operation and continuing property disposals MyTravel issues an ultimatum STRUGGLING UK holidays group MyTravel has issued an ultimatum to its bondholders to support the '1.3Bn restructuring plan by the deadline of 17 November Intertanko urges IACS on rules INTERTANKO has urged IACS to act quickly following news that the common rules regime will be delayed Euro ports 'failing the economy' Dispute over box transfer cost Pakistan waives Afghan charges French master in clear on pollution Southampton port director moves on Aliança reviews newbuilding plans Dredging fund approved in India Further problems for Pacific Sky MSC ready for Marseilles concession Petronet to charter LNG tankers

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NOVEMBER 4, 2004
P&O port traffic booms amid jam British transport group said traffic through its global terminals rose in the third quarter despite congestion. LA problems help spur record at Port of Seattle DHL sees U.S. loss widen Wal-Mart gives suppliers green light to launch RFID China eases currency rules for foreign subsidiaries Trucker protest fails to materialize Canada firms call for tax cuts Malaysia port eyes big rate hikes U.S. open to EU plane deal Vancouver tweaks trucker appointments Slowdown hits Indian terminal EGL income, revenue improve

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NOVEMBER 4, 2004
HK truckers threaten protests over diesel taxes The transport industry in Hong Kong said it is considering a slow-drive protest on Tsing Yi Island on November 16 if the government fails to cut diesel taxes. Chinese vice premier expects trade with ASEAN to boom Suez facility could alter East Med terminal landscape Seattle benefits from California congestion P&O Ports maintains organic growth Port State Control officers to intensify ship inspections Montreal expects record volumes this year Dutch consign annual paper mountain to the bin

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NOVEMBER 4, 2004
Best bet when boom busts Morgan Stanley says Teekay shows best current value, safest choice when rates fall in second-half 2005. Arlington eyeing $20? Stena vehicle close to pricing its IPO amid strong demand from hedge funds. Genmar shares take a hit Another large sale by Oaktree Capital appears behind this week's stock plunge. Storm brewing Morgan Stanley sees dark clouds for tanker owners in second half of 2005. Unitor wins TBW deal Teekay, Bergesen and World-Wide use their purchasing muscle to jointly buy supplies for over 200 vessels. Top Tankers buy unmasked Ship-hungry owner cleans out Indian owner's suezmax fleet. Seatrans in Eitzen deal Bergen chemical carrier pool operator set for $33m purchase of Mont Blanc. Aukra wins ferry deal Aker group shipyard signs a $19m deal to build two vessels for Norwegian west coast operator. Oil fires Seabulk Freight rate boom delivers best ever quarter to Gerhard Kurz's product tanker fleet. Ceres panamax goes aground Loaded India-bound Red Fern runs into trouble off the Indonesian island of Borneo. Surge in Indonesian attacks Piracy rears its ugly head again as archipelago suffers five separate incidents in under a week. Nysa reaches Portugal World-Wide VLCC damaged in the Bahamas by Hurricane Frances completes tow to Setubal.

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NOVEMBER 4, 2004
FMC: Agreements with low market share to be exempt from wait period USSM continues legal fight against MSP vessel transfer Hatsu meets its agents Senator Lines joins Asia/eastern Med service Sea Star Line names Peake president, COO China Shipping forms agency in Vietnam Deutsche Post's express arm sees bigger losses BAX continues profit recovery CBP takes over Air and Marine office P&O Ports reports rising volumes, congestion

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NOVEMBER 4, 2004
"Tampa" harassed by US officials Wilh. Wilhelmsen has complained that US authorities in Long Beach, California boarded and took control for a few hours of ... Yukos prepares for worst case scenario Yukos Oil Company has annouced two extraordinary general meetings for 20 December and 13 January. The agenda for the first ... Seatrans buys Eitzen chemcarrier Seatrans ' a chemical pool operator based in Bergen ' is finalising a deal to buy 19,733 DWT chemical/LPG carrier "Mont ...