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Shipping News

Arctic thaw may open shipping lanes, but risks are high
A faster-than-expected thaw of the Arctic is likely to open legendary short-cut routes between the Pacific and the Atlantic but experts say icebergs and high costs will prevent any trans-polar shipping boom.
Hutchison keen on bidding for 2 Israeli ports
EXPRESSING interest in bidding for two Israeli ports, the world's biggest container terminal operator, Hutchison Port Holdings , has signalled its intent to continue its aggressive global expansion strategy.
Mitsui leads Japanese lines' profit gains
MITSUI OSK Lines' second-quarter net income more than doubled, leading profit gains by Japan's three biggest shipping lines, as rising freight rates and expanding trade bolstered cargo shipments.

Admiralty Casebook

Tanker owner negligent: S'pore appeal court
THE Singapore Court of Appeal has upheld the High Court's decision last year that the owners of a chemical tanker were liable for negligently failing to disclose the dangerous nature of the cargo that was transferred to another ship.

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Shipping News

Arctic thaw may open shipping lanes, but risks are high
A faster-than-expected thaw of the Arctic is likely to open legendary short-cut routes between the Pacific and the Atlantic but experts say icebergs and high costs will prevent any trans-polar shipping boom.
Hutchison keen on bidding for 2 Israeli ports
EXPRESSING interest in bidding for two Israeli ports, the world's biggest container terminal operator, Hutchison Port Holdings , has signalled its intent to continue its aggressive global expansion strategy.
Mitsui leads Japanese lines' profit gains
MITSUI OSK Lines' second-quarter net income more than doubled, leading profit gains by Japan's three biggest shipping lines, as rising freight rates and expanding trade bolstered cargo shipments.

Admiralty Casebook

Tanker owner negligent: S'pore appeal court
THE Singapore Court of Appeal has upheld the High Court's decision last year that the owners of a chemical tanker were liable for negligently failing to disclose the dangerous nature of the cargo that was transferred to another ship.

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Shenzhen box throughput soars UASC aims for record 2004 financial results Xingjiang highway usuage increases Rickmers takes over Hamburg CCNI SITC and Maersk Logistics sign second logistics agreement VPA and TFN resolve legal dispute over Roberts Bank HK airport business good despite Baiyun opening: official Boeing, All Nippon sign maintenance contract Airbridge Cargo starts regular flights via Krasnoyarsk Frankfurt throughput grows

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NOVEMBER 11, 2004
Greek bulker leaking fuel offshore Vancouver Fuel leak likely to be distillates and not heavy bunker fuel, say Canadian Coast Guard. Pacific Islands target bunker fuel emissions Kyoto protocol prompts 16-member state body to seek answers to issue of shipping and aviation emissions. Growth outstripping bunker costs for Japan's top three Greater vessel efficiency on back of increased shipping activity partly explains improved profit predictions for Japan's largest shipping lines. Rotterdam midday market report New bunker company begins operations in South Korea Experienced partners establish bunker trading company to cover Korean, Chinese and Russian Far East markets. Total chief predicts $30 barrel next year Top Total executive Thierry Desmarest predicts a decline in oil prices next year. Shenzhen container growth still strong

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NOVEMBER 11, 2004
Interesting speakers at Fraport's hazardous goods conference LetMeShip expands service portfolio Austria: new inland shipping sub-projects out to tender Target Logistics reports 400% increase in net income SBB Cargo hauls Esso fuels to Switzerland Cathay Pacific offers hazmat goods handling and transport E.R. Schiffahrt increases fleet to 50 vessels in service China Southern Airlines announces change of president

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NOVEMBER 11, 2004
Rickmers buys CCNI (Deutschland) London Club premiums up 12.5% UK Club warns on "excessive" Brazilian fines Box traffic up at Marseilles Equity house "approaches" Mersey Docks

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Bob Coleman named top boss for 2004 U.S. rail freight traffic has up month of October Portland Shipping Club needs help with children's spree Foreign Trade Zones study sees big jump in shipments New shipping agency opens office in Vancouver, WA

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Top container lines demand action to relieve port congestion TWO of the world's biggest container lines have told ports to hire more dock workers and invest in new equipment in order to help relieve berth congestion. Izar 'illegal aid' prompts EU talks THE future of debt-laden Spanish shipbuilder Izar was thrown into doubt again yesterday following reports that Brussels is unhappy with rescue plans put forward by the Spanish state. Chantiers de l'Atlantique wins LNG deal from Chinese yard THE Alstom group's Chantiers de l'Atlantique shipyard has won its first contract from a Chinese shipbuilder for the construction of two liquefied natural gas carriers. Strong euro may force cruiseship builders to share skills with Asia THE strong euro may have brought European cruiseship builders to a crossroads, after a leading dollar-exposed customer urged them to transfer technology to lower cost Asia, writes Hugh O'Mahony.

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NOVEMBER 11, 2004
FMG inks Pilbara port and rail deal THE Fortescue Metals Group has signed an agreement with the Western Australian government to develop multi-user railway and port facilities in the Pilbara Teamsters union organiser murdered ANGRY members of the American Teamsters union are demanding that Salvadoran officials step up the search for the men who killed a union representative Hoverspeed to cut back on short-sea HOVERSPEED, the fast ferry operator owned by Sea Containers, is following P&O Ferries in cutting back its short-sea services Soybean rust found in US crop AGRICULTURE officials in the US confirmed yesterday that Asian Soybean Rust has been found for the first time in soybean crops in the US Shanghai port group seeks funding US longshoremen sue over ID cards Brasilia 'holding back on finance' Russian oil waterway blocked Another Suez grounding Brazilian hygiene worries insurers ITIC warns against 'switch' bills UK encourages scrapping industry NZ rivals may join as port owners China concerned by Indian ore cuts

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NOVEMBER 11, 2004
Rally continues for ocean carriers MOL, "K" Line earnings soar Traffic, rates spur P&O Nedlloyd surge Hapag-Lloyd's operating profit climbs USSM gets temporary reprieve U.S. Ship Management has won a preliminary injunction that temporarily blocks Marad's transfer of six MSP ships to Maersk Lines. Ex-Im Bank offers loan packages for noncompliant ports PeopleSoft board rejects Oracle's final offer China protests proposed U.S. tariffs China Shipping orders four 8,500-TEU ships Takeover deal may be in works at Mersey Docks DHL to invest $150 million in Mexico Profit declines at Asian Terminals Inc. Lufthansa reverses third-quarter loss U.S.-Mexico corn dispute heats up

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NOVEMBER 11, 2004
Increased costs are no barrier to PONL profits A 5.5% year-on-year increase in average costs could not prevent P&O Nedlloyd (PONL) from recording a 160% increase in operating profits, the company announced today. Unimpressed shippers wait for TACA lines to negotiate Shippers on the transatlantic trade are unconvinced by the ambitious rate increases announced late last month by conferences in the trades and due to be implemented throughout next year. Gold Star Line enters lucrative Japan trades Teamsters vow to honour the name of murdered trade unionist Aboriginal rights preserved as Vancouver agrees expansion deal Tianjin targets efficiency in transport network upgrade Bull market bolsters Japanese lines' returns MISC joins in on lines' cash bonanza Schröder defiant over DB split Busan to break its 10m TEU record in November BFA logistics conference to be held in December

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NOVEMBER 11, 2004
Stelios contacts shareholders Stelmar founder sends mailout urging investors to vote against Fortress bid. Top completes share offering Net proceeds of $141m will part-fund five suezmaxes from Essar Shipping. Kiel mulls new cruise terminal Facility would cater for 50 extra cruisehips a year. S&P market stays strong Allied Maritime and Schoeller among owners pocketing tasty profits from recent ship sales. MOL on a roll Mitsui OSK Lines is raising its annual profit forecasts after a strong first half. Bulker held for 10 days Chandris Hellas panamax detained for trying to trade with cracked main engine cylinder liner. Livanos sells Odfjell stock Greek owner keeps close eye on investment in Norwegian chemical operator. Eidsiva lifts 9-month result But latest quarter hit by upgrade of 1979-built Virana. P&O Nedlloyd profit tops $100m Asian freight rates help Philip Green's company to fourfold earnings increase. Get out of Europe Royal Caribbean is feeling euro pain and urging Fincantieri and Kvaerner to build in Asia. OSG soars New York tanker company trades north of $60 per share for first time in long history. Ofers sell another Zim ship Seventh sale and lease back deal to help finance $820m newbuilding deal. Rickmers adds CCNI ships German group takes over Chilean line's subsidiary and adds seven vessels to fleet. Box-shaped profits Christen Knudsen is continuing his turnaround of open-hatch bulker owner Borgestad. London Club sets 12.5% increase Liability insurer admits members may be 'disappointed'. Tribon triumph for Aveva Healthy yard order books help justify takeover of Swedish ship design software company. Torm upbeat on 2005 Klaus Kjaerulff reports "highly satisfactory" result but expects New Year to get off to an even stronger start.

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NOVEMBER 11, 2004
Japanese shipowners reap record profits Royal P&0;O Nedlloyd recovers Hapag-Lloyd, NYK to enter U.S./East Coast of South America Asia/Canada carriers extend peak season surcharge again Enron barge fraud cost investors $13.7 million DHL opens new sorting center in Minneapolis Averitt Express covers new cities Asian soybean rust threatens major U.S. agriculture export USDA optimistic American beef exports to Asia are rebounding OFAC penalties decline Commerce finds Chinese bedroom furniture dumped on market ITC assesses antidumping duties on Chinese hand trucks NOAA enforcement leads to decreased illegal Chilean sea bass imports U.S., Mexico discuss border issues High-tech sector invited to U.S.-India commerce meeting Antwerp's box volume up 13%

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NOVEMBER 11, 2004
Torm upgrades and buy more ships Dampskibsselskabet Torm has once again upgraded its expectation for 2004 after very profitable nine months. The profit for the first ... Higher S&P rating for Skuld Assuranseforeningen Skuld ' the Norwegian P&I club ' has had its rating from Standard & Poor (S&P) increased from BB+ to ... London P&I premium increase of 12,5 per cent London P&I Club has set the highest premium increase so far with 12.5 per cent after a thorough review ...