Malacca Strait risk premiums will vary: insurer THE head of a London insurance group that declared the Malacca Strait a war and terrorism risk zone said the approach taken will vary from underwriter to underwriter and that no fixed higher premiums have been imposed.
Katrina may hit Lloyd's with £1b of claims THE London-based underwriting group Lloyd's is likely to face a hit of around 1 billion , net of reinsurance, from claims resulting from the devastating Hurricane Katrina.
Foreign ships allowed to move between US ports US President George W Bush waived the Jones Act temporarily to allow foreign-owned tankers to transport gasoline between US ports after Hurricane Katrina disrupted pipeline supplies.
New Orleans' traffic diverted to other ports
Port Shots
Indon radar stations for Malacca Strait INDONESIA's navy said yesterday it plans to install radar stations at nine locations in the pirate-infested Malacca Strait to monitor ships and strengthen security in the world's busiest waterway.
Malacca Strait risk premiums will vary: insurer THE head of a London insurance group that declared the Malacca Strait a war and terrorism risk zone said the approach taken will vary from underwriter to underwriter and that no fixed higher premiums have been imposed.
Katrina may hit Lloyd's with £1b of claims THE London-based underwriting group Lloyd's is likely to face a hit of around 1 billion , net of reinsurance, from claims resulting from the devastating Hurricane Katrina.
Foreign ships allowed to move between US ports US President George W Bush waived the Jones Act temporarily to allow foreign-owned tankers to transport gasoline between US ports after Hurricane Katrina disrupted pipeline supplies.
New Orleans' traffic diverted to other ports
Port Shots
Indon radar stations for Malacca Strait INDONESIA's navy said yesterday it plans to install radar stations at nine locations in the pirate-infested Malacca Strait to monitor ships and strengthen security in the world's busiest waterway.
Lower Mississippi re-opens to daylight traffic THE Lower Mississippi river is open to commercial traffic with a draught restriction of 35 ft but transit would be allowed only during daylight hours, the US Coast Guard said on Friday afternoon.
Jones Act 'farce' as waiver rules confuse foreign oil distributors WASHINGTON has suspended the Jones Act in the aftermath of Hurricane Katrina, "so that foreign ships can also help distribute oil and gasoline to where it is needed".
US seeks cruiseships with 25,000 berths to house hurricane victims AS THE full extent of the humanitarian dislocation of Hurricane Katrina began to emerge, the US Federal Emergency Management Agency has authorised the chartering-in of cruiseships totalling 25,000 berths to house the storm's victims as well as the support workers on site, writes Rajesh Joshi in New York.
UN offers to co-ordinate relief as world pledges aid A GLOBAL alliance of has offered pledges of humanitarian aid and emergency oil supplies for the US as it struggles to cope with the devastation caused by Hurricane Katrina, Reuters reports.
Rocky road ahead for Katrina claims WARNINGS of massive insurance complications are increasing as the economic loss from Hurricane Katrina and subsequent flooding in New Orleans is forecast to exceed $100bn.
Insurers to consider Malacca advice THE war risk market in London is both open and competitive, Rupert Atkin, chairman of the London Market Association Joint War Committee, stressed in Singapore today
Stowell to boost Lloyds TSB finance LLOYDS TSB Corporate has appointed Peter Stowell as Head of Shipping to manage existing exposure and spearhead growth within the bank's maritime division
US passport deadline disappoints THE International Council of Cruise Lines says it would prefer passport regulations to apply to all US travellers regardless of mode of travel
Cruise pumps $30Bn into US economy A study funded by the International Council of Cruise Lines has claimed that the cruise sector pumped more than $30Bn into the US economy in 2004
Port conditions: Gulf of Mexico REPORTS have been received on the latest conditions at Mobile, Gulfport, Pensacola, Pascagoula and Panama City
Grain barges still await river opening MORE than 100 grain barges wait on the Mississippi River unable to transfer cargo to deep-draught ships that are not being allowed upriver from the Gulf of Mexico
KATRINA: THE AFTERMATH Most ports remain closed Port of Mobile to reopen New Orleans port to be closed for weeks Coffee stocks destroyed Kansas City Southern reopens Miss.-La. line Tanker rates soar
Availability of fuel could be next problem, says US Gulf port Availability of fuel in the Southeast US is beginning to be a problem for hurricane recovery, operations and normal life, according to the Port of Mobile today.
US imposes limits on two Chinese textile products after talks failure The US has imposed curbs on bras and synthetic filament fabrics imported from China following the failure in this week's textile talks in Beijing.
Updated: Gulf ports swimming in uncertainty
Vancouver figures drop back, due to trucker strike, but still 4% up
Port plans fast turnaround for the M.V. Maasvlakte II
ADB commits to Subcontinent infrastructure projects
Difficult year for Auckland, Tauranga
Mobile container terminal bidding a week behind after Katrina
Good news, bad news Coast Guard reopens lower Mississippi River to vessel traffic, but officials are surveying 'major oil spill' nearby.
Clean market roars IEA release of 60m barrels crude and products over next 30 days should boost MR rates already crashing through WS400 for Europe-US routes.
Good promotion Johnston replaces Swift, as OSG creates corporate communications unit for first time.
Fredriksen bares teeth Owner offers NOK450m for majority stake in Bergshav and warns he'll sue if trumped by internal bid.
Marflet numbers move down Spanish tanker owner sees profit cut by 58% in first half, despite newbuilding addition.
Fincantieri primed for IPO Italian yard group expects to list early next year, says Guiseppe Bono.
Schoeller calls off the dogs German owner stops legal action against Korean yard Samho as it takes delivery of disputed tanker.
Carnival to the rescue Mickey Arison's cruise line is stepping forward to help victims of Hurricane Katrina.
Greenpeace on trial for GM raid Welsh court to decide whether blockade of Good Faith bulker was 'public nuisance'.
V.Ships ties knot with Martinoli Shipmanagement groups merge passenger vessel operations in pursuit of synergy savings.
"Mississippi could open Saturday" Pilots are being rounded up, a US Army survey finds deep water from Baton Rouge down and limited commercial traffic could start shortly.
LR buys ODS Lloyd's Register adds Danish noise and vibration specialist to roster.
Kirby escapes Katrina damage Business as usual for US barge operator, although crewing may become short-term issue.
Silja to sack 400 Silja Line has given 400 employees, whereof 300 seagoing, notice of termination. The reason is the loss-making cruise vessel ...
Sweden to abolish rule on citizenship for masters After being critised by the EU Commission, the Swedish government has know sent out a proposal to abolish the demand ...
New York prices reluctant to follow bullish USWC market As Asia's surging prices drove US West Coast bunkers higher today, New York saw limited demand and lower prices in the market.
US Gulf markets tail off to end frenzied week's trading After prices surged in the wake of Katrina, Houston prices were softening today in tandem with crude and fuel oil.
Katrina effect sees 155 ports reach record highs Impact of Hurricane Katrina exacerbates already high marine fuel price levels - pushing IFO380 prices to historical record highs in 155 ports.
India not threatened by rival Sri Lanka bunkering project India says Trincomalee makes more strategic sense than Chinese bunkering hub project at Hambantota.
Japan considers tapping oil reserves to allay supply shortages Japan in talks with IEA about possible release from its strategic oil reserves in an attempt to allay supply shortages in the US Gulf Coast Area.
Fuel testing company sees potential market in China Chinese company stresses the potential of the marine fuel testing market in China and the reliability of ISO/IEC 17025 accredited laboratory.
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