Malacca Strait risk premiums set to skyrocket DRAMATICALLY higher insurance costs could soon be in store for the 50,000 ships annually transiting the Malacca Strait after the vital waterway was declared a war and terrorism risk by influential London underwriters.
Exxon's Asia tanker hires raise eyebrows EXXON Mobil Corp is transporting oil to Asia aboard older, single-hulled supertankers shunned by other major oil companies, industry sources said on Friday.
Shipping rates for coal, iron ore reach 21-month low THE cost of shipping commodities such as coal and iron ore dropped to a 21-month low as China slowed shipments of the ore used to make steel, increasing the number of vessels available in the so-called spot market.
Collision causes oil spill off Dalian A LARGE clean-up operation involving at least 26 vessels is taking place off the port of Dalian in northeast China after a tanker spilt oil following a collision with a foreign-flagged containership on Saturday, writes Mike Grinter in Hong Kong.
Livanos bounces back with 'blank cheque' venture BILL Livanos, the US-born and based executive whose previous enterprises Millenium Seacarriers and Maritimedirect.com ended in painful failure, has re-emerged as the designated president of Manhattan Maritime Enterprises, a 'blank cheque' company that proposes to raise $114m to acquire shipping businesses.
Vafias denies rumours of imminent IPO GREECE'S Vafias shipping group has denied filing with market regulators in the US with a view to staging an initial public offering, although it has had preliminary exchanges with the Securities and Exchange Commission regarding an application for its growing liquid petroleum gas fleet.
New UK tonnage tax window is a two-way opportunity A new window of opportunity to enter the UK tonnage tax regime has just opened and changes to leasing rules could encourage more owners to jump through.
Allianz gives up DaimlerChrysler ALLIANZ Global Risks, the international industrial insurer of the Allianz Group, has not extended an important contract with the car manufacturing group DaimlerChrysler, according to market sources. In future, the risk will be carried by the US insurer American International Group.
Samskip confirms acquisition of shortsea operator Seawheel ICELANDIC shipping and logistics group Samskip ended weeks of speculation last night by confirming it was planning to acquire UK shortsea operator Seawheel, writes Janet Porter.
Shareholders save Gdynia SHAREHOLDERS this morning gave their backing to Polish shipbuilder Gdynia Shipyard, saving the yard from bankruptcy and possible closure
Indians strike coal deal in NSW GUJARAT NRE Coke said today that its Australian joint venture Gujarat NRE FCGL Pty has entered into an agreement to acquire the coal mining leases in New South Wales
Free trade wrangling under way WRANGLING has already begun in the US House of Representatives over the Senate-passed Central America Free Trade Agreement
DFDS to raise Anglo Bridge capacity DFDS will boost capacity on its new Anglo Bridge South service of DFDS Tor Line between Gothenburg and Tilbury by taking on charter two large ro-ro newbuildings
Boxships taken for shorter charters THE boxship charter market remains quiet with few fixtures being recorded; those being concluded are for shorter periods than earlier in the year
Race to refloat research vessel COAST Guard cutters have transferred pumps to the 44m-long research vessel Casitas, currently aground in the Hawaiian Islands
UBS downgrades P&O for weak China port portfolio and risky ownership clauses UBS has downgraded P&O's rating since the only possible bidder for its port assets, PSA, seems not likely to buy due to the former's lack of presence in China.
Samskip confirms purchase of Seawheel, for integration with Geest network Samskip today confirmed its purchase of Seawheel, for integration with the Geest North Sea Line (GNSL) network, first reported by ci-online three weeks ago.
China Shipping regional HQ moved to Malaysia to lower costs
Mumbai Port transport strike called off
China beefs up restrictions on US bovine imports
Mediator holds talks in Vancouver truck dispute
NYK receives new tonnage for Good Hope Express
X-Press Container Line adds Tilbury call
Team Lines add Sodertalje to east Swedish coverage
TCB Mexican terminal starts operations
France can steady Sino-EU textile trade relations, says China
DFDS moves for Nordic ro-ros Danish owner to charter Elling Ellingsen's two Jinling newbuildings.
Viking jobs under threat Finnish union claims 170 ferry jobs will be lost if Nils-Erik Eklund drives reflagging plan through.
X-Press feeder expansion European offshoot of Sea Consortium launches London to north continent service.
Sabic takes chemical quartet Saudi chemical giant will charter Gulf Navigation's Hyundai Mipo tanker newbuildings for 15 years.
Third time lucky? Undaunted by the failure of Millenium Seacarriers and Maritime Direct Bill Livanos is back with a $114m IPO to launch Manhattan Maritime.
Sons take charge at Onassis Triumvirate who are custodians of the Golden Greek's fortune quit but keep the task in their families.
Okean must pay up Kiev court orders Damen's Ukrainian shipyard to settle expensive old steel bill.
Maran clinches LPG ship John Angelicoussis company seals deal for 84,000-cbm carrier at Daewoo in Korea.
Excelerate backs new regas ship Partner Exmar has confirmed its order for a fourth LNG regasification vessel on the back of a long-term charter deal.
BLT holds fire Indonesian tanker owner delays bond issue after investors demand too much interest.
India starts digging Dredging work has begun on $540m ship canal project between India and Sri Lanka.
Canada ferry inquiry underway Investigation into Queen of Oak Bay accident gathers pace as inspection shows damage to be limited.
Boxship and tanker collide Heavy fog and poor visibility blamed as large oil spill clean up operation begins off Dalian port.
Callenberg buys HVAC operations from ABB The Callenberg Group AB has signed an agreement with ABB Automation Technologies AB concerning the aquisition of ABB's Göteborg-based ...
Scandlines ro/pax to the Mediterranean Scandlines has sent one of their ro-pax-units far away from the normal trade pattern. The "Ask" has been ...
Color Line accused of unfair competition Bergen-based Fjord Line say they can document that Color Line will lose NOK 80 million on the new ferry ...
Barloworld acquisition signals growth for TRT Sources at TRT Shipping Services/TRT Bunkers have confirmed that the company has been sold to Barloworld Logistics in a move that signals growth for the South African company.
Reports: PTP Storage facility given government backing Seaport Terminal has been given the green light by the Malaysian government to construct a 400,000 m' oil storage facility off the Port of Tanjung Pelepas (PTP) on Malaysia's southern tip.
Marine Lubes supply unaffected by plant blaze Firefighters in Pakistan spent seven hours extinguishing a blaze which erupted at Pakistan State Oil (PSO)'s lubricant manufacturing plant near National Oil Refinery in Korangi Industrial Area on Saturday night.
Personnel and office changes for Scandinavian Oil Services
Singapore: Transponders for bunker tankers To enhance the security of Singapore's port waters, the MPA will soon require all licensed harbour and pleasure craft to carry transponders that would enable MPA and the security agencies to identify and track their movements, including bunker tankers licensed as harbour craft.
Rotterdam market firm this morning
Hong Kong: Chimbusco takes stake in Pan-Nation Chimbusco will soon enter the Hong Kong bunker market after an agreement to takeover a huge stake in Hong Kong bunker supplier Pan-Nation.
Chittagong port gets new system to cripple piracy The port of Chittagong, the principal port of Bangladesh, has installed a new surveillance system to step up its fight against piracy and illegal smuggling.
China: Collision causes oil spill A big oil spill had resulted from a collision between a Chinese oil vessel and a foreign-flagged container ship off Dalian port on Saturday morning.
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