Overcapacity may revisit in end-2006: analysts A global capacity crunch in container shipping is not likely to ease until mid-2006, but by the end of that year the industry could find itself once again facing its over-capacity nemesis with the delivery of some 100 'super post-panamax' ships.
Light-asset strategy benefits APL LOW newbuilding prices and surging container demand from last year may have led to a record two million TEUs of box ship orders in 2003, but for Neptune Orient Lines' container division APL, a light asset strategy is the way forward.
PPL wins US$118m jack-up rig job SEMBCORP Marine subsidiary PPL Shipyard has clinched a US$117.6 million contract for the building of a Baker Pacific Class 375 jack-up rig for Norwegian company Mosbarron Ltd.
ThyssenKrupp, OEP to merge shipbuilding units GERMAN heavy industry giant ThyssenKrupp said yesterday it has agreed to merge its shipbuilding business with Howaldtswerke Deutsche-Werft , currently owned by US investment fund One Equity Partners .
Malaysian Lumut Port's Q1 volumes swell 58% CARGO throughput at Malaysia's Lumut Port rose significantly by 58 per cent in the first quarter of 2004 compared to the same period in the preceding year.
TANKER MARKET PERSIAN Gulf oil tanker rates for shipping crude to Asian refiners, little changed yesterday, may rise as oil companies and traders book vessels for the middle of June amid limited supplies.
Air and Land Transport
BA's operating profit jumps 37% to 405m BRITISH Airways plc posted a better-than expected annual operating profit yesterday thanks to deep cost cuts and a pick-up in travel demand and said revenues should improve by 2 to 3 per cent this year.
Australia's Virgin Blue posts 47% surge in profits
Overcapacity may revisit in end-2006: analysts A global capacity crunch in container shipping is not likely to ease until mid-2006, but by the end of that year the industry could find itself once again facing its over-capacity nemesis with the delivery of some 100 'super post-panamax' ships.
Light-asset strategy benefits APL LOW newbuilding prices and surging container demand from last year may have led to a record two million TEUs of box ship orders in 2003, but for Neptune Orient Lines' container division APL, a light asset strategy is the way forward.
PPL wins US$118m jack-up rig job SEMBCORP Marine subsidiary PPL Shipyard has clinched a US$117.6 million contract for the building of a Baker Pacific Class 375 jack-up rig for Norwegian company Mosbarron Ltd.
ThyssenKrupp, OEP to merge shipbuilding units GERMAN heavy industry giant ThyssenKrupp said yesterday it has agreed to merge its shipbuilding business with Howaldtswerke Deutsche-Werft , currently owned by US investment fund One Equity Partners .
Malaysian Lumut Port's Q1 volumes swell 58% CARGO throughput at Malaysia's Lumut Port rose significantly by 58 per cent in the first quarter of 2004 compared to the same period in the preceding year.
TANKER MARKET PERSIAN Gulf oil tanker rates for shipping crude to Asian refiners, little changed yesterday, may rise as oil companies and traders book vessels for the middle of June amid limited supplies.
Air and Land Transport
BA's operating profit jumps 37% to 405m BRITISH Airways plc posted a better-than expected annual operating profit yesterday thanks to deep cost cuts and a pick-up in travel demand and said revenues should improve by 2 to 3 per cent this year.
Australia's Virgin Blue posts 47% surge in profits
Bunker prices break new ground in major markets Fuel oil prices in the the world's major bunker markets yesterday reached highs that have not been seen for months, while gas oil prices in both Fujairah and Singapore hit the highest levels since Bunkerworld began recording prices in 1998.
Raided supplier continues scaling down Lungshan Petroleum has returned a substantial part of its chartered barge fleet but says it will continue to compete.
Latest Gibraltar price gains depress demand
Rotterdam firm and rising after morning trade
No let up as crude prices continue to soar Crude continues to rise today with experts sceptical of any short-term relief.
Claims of false bunker consumption dismissed by court Charterer fails to provide sufficient evidence to prove case against ship owner of 'mis-described' bunker fuel costs.
OMI and Stelmar in merger talks to create tanker giant OMI and Stelmar Shipping are in merger discussions which could create a tanker giant with more than 80 ships and a market capitalisation of about $1.3bn.
Philippines crew firm set up STELMAR has announce the formation of a new crew management company in the Philippines, chiefly to supply in house recruitment needs, writes David Osler.
Paris MoU plans radical overhaul of inspections THE Paris Memorandum of Understanding on Port State Control, in close co-operation with the European Commission, revealed yesterday it had embarked on a fundamental review of the way it targets and inspects ships.
The Ilknur 2 - a suitable case for treatment THE case of the Ilknur 2, a Turkish-flag general cargo vessel detained in Gibraltar last Thursday, illustrates perfectly the need for change, writes Brian Reyes.
Deutsche Schiffsbank pays out record loans DEUTSCHE Schiffsbank paid out the highest volume of shipping loans ever last year, totalling €2.3bn ($2.7bn). This contrasts with €1.8bn in the previous year, the bank said. The strong rise came despite the weak US dollar against the euro.
Design fault blamed for collapse of QM2 walkway THE collapse of a shipyard walkway giving access to the Queen Mary 2 last November, which left 15 people dead and 28 injured, was due to a design fault, according to court-appointed investigators.
Root and branch review of Paris MoU PORT state control authorities within the Paris MoU are planning a fundamental overhaul of their inspection regimes in a bid to reduce the burden on good operators
Cape Africa heads for False Bay REMOVAL of the remaining fuel oil has prompted the lifting of restrictions that kept the stricken bulk carrier Cape Africa from the South African coast
Evergreen in Bilbao hub talks EVERGREEN Marine Corp, the Taiwanese container shipping giant, is in talks with the Basque port of Bilbao over use of a new Atlantic transhipment hub
148 safe in gambling ship blaze GAMBLING became hazardous off the Florida coast yesterday when the cruise vessel Sun Cruz V caught fire
US commission assesses LNG danger DANGERS posed by Liquefied Natural Gas are addressed in a report issued on Friday by ABS Consulting at the behest of the US Federal Energy Regulatory Commission
Ferries in port as typhoon strikes THOUSANDS of ship passengers in various ports in the Philippines have been stranded as typhoon Nida (local name Dindo) continues to batter the country
Lines: Service needs 'stable' rates Carrier service on both legs of the trans-Atlantic is not "sustainable" unless carriers can get stable pricing, shipping executives say.
FMC signal coming on NVO confidentiality ruling
New ships will sink rates under capacity 'tsunami'
British Airways cargo revenue off
Report cites ACE cost overruns
Hong Kong air, rail manifests go electronic
U.S.: Reforms crucial for Russia WTO bid
OOCL deploys 'largest' containership in trans-Pacific
China Shipping's LA terminal makes history as it opens to cold ironing cargo ships In a major environmental development, a containership is due to plug into shore-side electrical power at the port of Los Angeles for the first time today.
Canada West Coast box backlog soars again The number of containers from Asia grounded on Canada's West Coast due to rail car shortages has once more soared above 10,000TEU, roughly double last week's backlog.
CMA CGM reorganises Pacific services
NYK Line profits boom
Hanjin Heavy Industries predicts fall in demand for medium-sized vessels
New services boost Hupac's growth
Freight rates between Japan/Hong Kong and South Africa are to increase
Fiskerstrand to build new ferry for Rømø-Sylt traffic Förde Reederei Seetouristik (FRS) has on behalf of Römö-Sylt Linie GmbH (RSL) signed a contract for a newbuilding from ...
Hike for Polish coal exports The Chinese demand for coal keeps prices at a high level (around USD 70/ton). During this year's first four ...
New DFDS-name to the first Swedish Flower-class vessel "Tor Begonia" was the name to Flensburg Schiffsbau Ges newbuilding number 724, which was launched today. The newbuilding it the ...
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