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Seoul given 90 days to end shipbuilding subsidies
THE World Trade Organization ruled that South Korean shipbuilders illegally benefit from export credits, following a complaint by the European Union, which wants to limit subsidies that have boosted Korea's market share.
Ferry problems put P&O in the red
PENINSULAR & Oriental Steam Navigation Co, the UK's largest ferry and port operator, posted a second-half loss because of costs to close ferry routes.
Call for expansion of Panama Canal
OPERATING at 93 per cent of its maximum capacity and unable to handle the today's ultra-large container ships, the Panama Canal must be expanded, said industry executives who gathered recently in Panama City.
Carnival's CEO donates bonus to tsunami relief
Sunken tanker's ex-master released

Strait Talk

Northern lessons for Singapore?
LONDON, Singapore, New York, Connecticut, Shanghai, Gibraltar, Hong Kong Panama, Dubai and no doubt many, many other locations, are either major maritime centres or desperately want to become one.

web site

Shipping News

Seoul given 90 days to end shipbuilding subsidies
THE World Trade Organization ruled that South Korean shipbuilders illegally benefit from export credits, following a complaint by the European Union, which wants to limit subsidies that have boosted Korea's market share.
Ferry problems put P&O in the red
PENINSULAR & Oriental Steam Navigation Co, the UK's largest ferry and port operator, posted a second-half loss because of costs to close ferry routes.
Call for expansion of Panama Canal
OPERATING at 93 per cent of its maximum capacity and unable to handle the today's ultra-large container ships, the Panama Canal must be expanded, said industry executives who gathered recently in Panama City.
Carnival's CEO donates bonus to tsunami relief
Sunken tanker's ex-master released

Strait Talk

Northern lessons for Singapore?
LONDON, Singapore, New York, Connecticut, Shanghai, Gibraltar, Hong Kong Panama, Dubai and no doubt many, many other locations, are either major maritime centres or desperately want to become one.

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P&O port operations to receive GBP1 billion cash injection Cargo Partner awaits China boom time Nansha handles port's largest vessel...ever "K" Line's new branch offices improve service level in China: MD Boeing appoints James Bell as interim head after CEO resigns HACTL tonnage grows over first two months of 2005 Lufthansa Cargo raises fuel surcharge

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Trade not happy with maritime cess proposal Fringe benefit tax to be major blow for shipping industry Evergreen & COSCO rope in LT to upgrade Far East/S. Africa/S. America joint service Safmarine enhances Safari service TMM Lines strengthens links from C. America to Asia NOL takes top prize at Lloyd's List Awards OOCL Atlanta unveiled New shipping service MISC Q3 earnings rise by 64 pc Coscon to launch Manila-HK service Mumbai Port all set to achieve record throughput in 2004-05 New cargo handling record set at Kandla Port Deep-water port to come up near Pondicherry, announces Lt governor Velji Dosabhai & Sons 1st to avail of Customs facility at CFS-Chhani Forex reserves surged by $ 2,699 million Norms for transporting psychotropic drugs simplified Duty anomalies draw flak from India Incorporated Fringe benefit tax to stay; FM invites India Inc to frame rules High input costs hampering productivity: Ficci survey Finance Minister taxes import of services too Capital expenditure subsidy for SSI units to be raised to 15 pc Cabinet approves Rs 22,000 cr. for NHDP Phase-III A Service tax on forex payments to come into force from March 15 - Chidambaram rules out roll-back

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MARCH 8, 2005
Valero suspends offshore deliveries in Aruba Texas-based energy giant says it will recommence offshore deliveries at an unfixed time. Argentina: Tugboat strike causing bunker chaos Hong Kong bunker costs set to rise on single-hull ban Suppliers in Hong Kong anticipate a rise in bunker prices in the port come April as they will have to pass on increased freight costs to the end user. ARA market holding steady from late Monday Higher demand recorded in South Korean ports Korean ports regain competitive edge as prices align with Hong Kong. Management reshuffle at Transbunker Group New managing director appointed for Bunker Holdings. Buyers and suppliers in Singapore stand-off Both buyers and suppliers in Singapore said to be seeking direction in logistically tight market. Black Sea-Asia arbitrage reduced to zero Arbitrage cargoes from the Black Sea to Europe reduced to zero in April, increased supplies expected from northwest Europe Singapore suppliers step up to accreditation, figure reaches 32 As the May 31 deadline looms, more of Singapore's bunker suppliers are being awarded accreditation status by the Maritime and Port Authority of Singapore (MPA). Colombian authorities target MDO 'black market' Arrival of global bunker supplier polarises unlawful price differentiation in fledgling bunker market.

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Visit the ITJ at TransRussia and Transport Logistic Sharkey Transportation selects GeoLogic's Mobilemax Albania new ADR signatory Two new logistics contracts for Geodis Mexico Discussions on railway reforms in Latvia Demavia Airlines offers freight capacity to Congo and East Africa New liner conference formed U-Freight America appoints vice-president logistics

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MARCH 8, 2005
Euronav to merge with Tanklog Color Line ferry LOI at Aker Finnyards US Justice Dept appeals over Stolt ruling New Baltic chairman P&O profit up 65% Laeisz orders boxships from Aker

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MARCH 8, 2005
NTSB issues Staten Island ferry investigation findings Color Line plans second Fantasy Chouest plans to buy Gulfport yard USCG port security advisory WTO rules in subsidy squabble

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Euronav adds 16 Livanos tankers to fleet in massive $1bn alliance LARGE tanker specialist Euronav has clinched a deal with Greek shipowner Peter Livanos to merge their tanker fleets, bringing 16 Greek-flag tankers - predominantly suezmaxes - into the Brussels-listed company's fleet of 28 VLCCs and ULCCs. Steep cost of ferry restructuring shrouds solid growth at P&O Solid underlying profit growth at P&O was last year swamped by exceptional charges of more than £380m ($733m), mainly reflecting the restructuring of the UK ports group's ferry business. Excel plans fleet expansion on back of $145m share offer EXCEL Maritime Carriers, the Greek dry bulk company, has announced an aggressive fleet expansion drive, funded through a proposed $145m share offering in New York. China Shipping to take 39 steps towards top three berth by 2010 CHINA'S number two line, China Shipping, has outlined an aggressive expansion plan.

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MARCH 8, 2005
TBS hopes to join IPO party TBS International hopes to join the IPO party, despite its troubled past and ageing fleet, filing an SEC registration yesterday Ecstasy computer malfunctions A MALFUNCTIONING computer system has slowed Carnival Cruise Lines' Ecstasy, leading to itinerary delays and possible disruption of its current cruise New California ballast water plan THE California State Lands Commission is looking to charge $500 to every ship above 300gt arriving in the state with ballast water from within the Pacific Coast Region DOJ continues Stolt attack STOLT-Nielsen continues today to profess its innocence of price fixing in light of the US Justice Department's appeal challenging an amnesty granted to the company P&O 'could handle up to 31M TEU' Cosco Pacific increases ports stake Euronav, Ceres reach agreement RCCL to fully hedge euro order Indian wins Mauritius dredging deal P&O's ports now predominant Cyclone threatens NE Australia Cyclones pause Miami growth WTO ruling disappoints: Lüken

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MARCH 8, 2005
Ferry charge hits P&O earnings But underlying earnings in 2004 soared 65 percent on record volume at Port Newark (left) and company's other global terminals. 14 missing after Rickmers ship collision off China Baltimore seeks new port chief WTO hits Korean shipbuilding aid Mobile box hub cleared ILWU plans Bay Area protest China Shipping to buy 39 ships Senator Lines joins Inttra Wallenius Wilhelmsen tabs U.S.execs

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MARCH 8, 2005
P&O ports results struggle against other parts of Group performance P&O Group's '34.4million (US$65.85million) operating loss for 2004 has provoked mixed market reactions, with exceptional costs relating to ferry-restructuring and property-disposals outweighing strong results in the ports division. HK capacity to go up to 20m TEU per annum Modern Terminals MD Erik Christensen today noted the total throughput capacity of Hong Kong's current container terminals was due to rise to over 20mTEU/year, compared to 15mTEU before CT9's completion. Youngil New Port berth construction to commence Road infrastructure planned for Busan and Gwangyang distriparks Fleet expansion raises CSCL profits Round the World string of pearls breaks, with collision Collision snaps rail link to Chittagong Ip: public consultation is guaranteed before decision on CT10 Afghan overland route opened by MacAndrews Taiwan experiences first monthly export fall in three years US Railroad Administration sets collision-prevention standards NYK Line (China) sets up liaison office in midwest China NYK Line announces surcharges

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MARCH 8, 2005
US to appeal (really) Stolt tells market that Department of Justice wasn't kidding when it filed notice in antitrust case last month. TOP and the trader Five-year charters with Glencore buttress Top Tankers' three-ship buy from Latsis and Mikom Accord deal, but stock slides sharply. More shares, more bulkers Christopher Georgakis-led Excel is scouting another $32m in equity capital. Sumatec eyes expansion Malaysian engineering group completes deals for six tankers and plans more acquisitions. Euronav outlines merger deal Ceres an alternative to 'building own suezmax business', confirms owner. Euronav and Ceres merge tankers Belgian owner will pay in excess of $1bn to take over fleet of Tanklog. Torm talks fragile freights Danish products carrier owner explains thinking behind lower profit forecast. Aker wins $106m order German offshoot wins two container ship orders from Laeisz with maybe more to come. Massive earnings for CSCL China Shipping's boxship arm almost tripled net profit in 2004 on increasing US and European demand. Torm share slide continues Forecast of a very profitable 2005 fails to impress voracious stock market. Comanav to run Senegalese line Moroccan owner steps in to restart service halted by tragic sinking of the ferry Le Joola. Creditors offered Lenac payout Croatian state could pay banks at least $6.5m after selling bankrupt yard's Dock 11. Karen Danielsen crewman drunk Autopsy reveals Croatian second in command had been drinking before cargoship rammed bridge. Huge hit for P&O UK group racks up big 2004 loss after reorganising loss-making ferry business at cost of £266m. Torm doubles profit But share price falls as Danish tanker company predicts a lower 2005 result. NOL sees rate rise of 9% Singapore containership operator saw rates jump to $2,802 per feu in first trading period of 2005. Color Line orders second giant Norwegian owner returns to Aker Finnyards for sister to Color Fantasy, the world's biggest cruiseship with car decks. Vita inks more newbuildings Fledgling Singapore owner exercises options for cargo ships at Rongcheng Xixiakou Shipyard. Channel ferry service scrapped Breakdown in negotiations spells end for Hoverspeed Newhaven to Dieppe cross Channel run.

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MARCH 8, 2005
GAO: MarAd will not likely meet vessel scrapping deadline NYK opens Chinese liaison office Hawkins appointed VP operations for Donjon-SMIT Wallenius Wilhelmsen appoints managers Lufthansa raises fuel surcharge Express delivery group changes name Ryder Systems acquires 4 G's Truck Renting U-Freight names Chui VP North American logistics U.S. meat group's attempt to open Canadian border fails USDA to ban certain wooden craft items from China Ensenda names McGovern CFO TNT Logistics NA promotes Gerard Maersk explains departure from Iraq Port of Tampa, Titan America mark opening of cement terminal Jurong Port container volumes rise 41%

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MARCH 8, 2005
"Karen Danielsen": Navigator on watch was drunk A post-mortem examination on Monday, showed that the dead chief mate of the "Karen Danielsen" had 1.55 permillage of ... Talks about traffic control in Øresund The Swedish Maritime Administration, SMA, has appealed to the Danish authorities to join forces with Sweden to re-establish a ... Color Line and Aker Finnyards sign letter of intent Color Line have decided to exercise its option and order a sister vessel to "Color Fantasy" from Aker Finnyards for ...