Yusen's Q1 profit surges 27% NIPPON Yusen KK, Japan's largest shipping line, said first-quarter profit rose 27.3 per cent as expanding trade between Asia, Europe and the US increased demand for sea freight and bolstered its shipment rates.
Ishikawajima's Q1 loss doubles on charge ISHIKAWAJIMA-Harima Heavy Industries Co, Japan's third-largest shipbuilder, said its first-quarter loss more than doubled because of a one-time charge to write down the value of its assets to comply with new accounting rules.
Ship master jailed for excess alcohol THE Ukrainian master of the UK-flag general cargo ship Hoo Tern has been sentenced to four months' jail for having excess alcohol in his breath.
Viet ship builder to raise US$500 million
Port Shots
Port Shots A consortium of five companies is to study the standardisation of the interface between a secure container and data readers at ports and borders under a European Union-funded programme on security-related research projects.
Yusen's Q1 profit surges 27% NIPPON Yusen KK, Japan's largest shipping line, said first-quarter profit rose 27.3 per cent as expanding trade between Asia, Europe and the US increased demand for sea freight and bolstered its shipment rates.
Ishikawajima's Q1 loss doubles on charge ISHIKAWAJIMA-Harima Heavy Industries Co, Japan's third-largest shipbuilder, said its first-quarter loss more than doubled because of a one-time charge to write down the value of its assets to comply with new accounting rules.
Ship master jailed for excess alcohol THE Ukrainian master of the UK-flag general cargo ship Hoo Tern has been sentenced to four months' jail for having excess alcohol in his breath.
Viet ship builder to raise US$500 million
Port Shots
Port Shots A consortium of five companies is to study the standardisation of the interface between a secure container and data readers at ports and borders under a European Union-funded programme on security-related research projects.
AP Møller-Maersk spends $3bn on Kerr-McGee North Sea assets Danish shipping and energy giant AP Møller-Maersk has brought spending on acquisitions in the last few months to almost $6bn with the purchase of most of Kerr-McGee's UK oil and gas operations for $2.95bn.
Sea Containers to refocus ferry fleet SEA Containers plans to move up to half its fast car-ferry fleet away from North Europe and announce other changes by early October that could see disposal of part of its Silja fleet in the Baltic, writes Hugh O'Mahony.
Wall Street awaits Seaspan IPO price THE longevity and strength of the recent wave of shipping company flotations in New York was expected to come into clearer focus yesterday, with New York Stock Exchange aspirant Seaspan due to price its initial public offering.
Terrorist alert diverts more Israeli cruiseships away from Turkey TWO cruiseships carrying more than 1,600 Israeli passengers towards Turkey diverted to Cyprus yesterday because of security concerns, the second such incident in four days, Reuters reports.
Australia agrees to APM/PONL merger AUSTRALIA'S competition watchdog says it will not oppose AP M&slash;ller-Maersk's acquisition of P&O Nedlloyd, following similar statements from the EU and US authorities
Operators delaying boxship charters THE summer respite in the boxship charter market continues with liner operators holding back from commitments to further chartered tonnage
New Australian LNG project WOODSIDE Energy is planning a new LNG project, with potential for annual production of up to 7M tonnes a year, in Western Australia
Sea Containers to rethink ferries SEA CONTAINERS will make 'major changes' to its ferry division after being hit by heavy losses during the first half of 2005
Have your say! HUTCHISON Ports (UK) MD Richard Pearson blasted plans by Teesport to build a deep sea container port in the north. Is he right? Have your say!
Ceres Amsterdam working at last CERES Paragon Terminal in Amsterdam handled its first vessel at the weekend after three years standing idle
Intermodal highlights rail gains Led by container and trailer traffic, U.S. railroads in July post second straight monthly traffic gains compared to the same 2004 month.
Deteriorating fiscal conditions will shrink China's H2 surplus China's trade surplus is likely to drop about 24% from US$39.6bn to US$30bn in the second half of this year, said a report from the country's State Information Center (SIC).
ACCC gives nod to Maersk's PONL buyout The Australian Competition and Consumer Commission (ACCC) has cleared the way for Royal P&O Nedlloyd (RPONL) to withdraw from a number of conferences, consortia and discussion agreements on Australian trades.
MSC and Patrick in terminals joint venture
Stark proposes major transport reforms
FMC proposes amendments to NVOCC rules
Experts recommend India-Bangladesh rail-link
CSCL bolsters rates ahead of peak season volume increases
Seaspan success Liner owner gets it done at $21 per share, will net $562m from mammoth IPO and begin trading Tuesday morning in New York.
Seaspan price talk at $21 Largest shipping IPO in US history looks poised to price in middle of target range, as Vancouver boxship line looks to break streak of discounted issues.
Oil deal boosts Maersk Share price of Danish shipping giant soars into stratosphere as it squeezes in another takeover deal.
Novoship prospers Cull of older single-hulled tankers produced profit boost for Russian owner.
ENVC narrows losses Portuguese shipbuilder heading in right direction after cutting costs and staff numbers.
MCA lashes Storm Greek controlled products carrier detained over catalogue of deficiencies.
Heung-A hikes earnings Korean boxship and tanker owner adds 70% to bottom line in first six months.
Shake-up for Sea Containers Changes planned for ferry group after ships rack up first-half operating losses of $48m.
Pirates to release WFP ship Somali hijackers agree to release general cargo ship Semlow and ten crew held for seven weeks.
Expansion boosts NYK Fleet growth and good freight markets more than compensate for soaring bunker costs
New rules hit IHI First quarter loss for Japanese shipbuilder after costly accounting change.
STX Pan Ocean rallies Upbeat broker report leads to share price resurgence for Singapore-listed Korean bulker player.
MHI reports shipbuilding loss Mitsubishi Heavy Industries' shipbuilding arm has reported a first quarter operating loss of JPY700m.
Kyoei profits slump Poor start for Japanese VLCC operator and NYK affiliate as first quarter results drop nearly 70%.
Biggest tanker fleet ever The world's tanker fleet is now the biggest ever, according to revised statstics from Clarksons in London. The previous peak ...
Tallink orders from Fincantieri The Tallink Group has closed a deal with Fincantieri on the building of a new ferry, with the option for ...
USEC, USGC open week firm, USWC demand soars Crude prices push bunker numbers higher on the USEC and Gulf, but window of opportunity allows West Coast suppliers to capitalise.
Moscow: Refinery upgrade will see fuel oil production slashed Moscow mayor orders $600 million Moscow Refinery upgrade project with fuel oil output to be slashed by around 70%.
Ruling expected on vessel with outstanding bunker bill Australian court will hear bunker claim against vessel under arrest in Adelaide.
Crude oil prices power to new record highs Oil prices have powered to new highs today amid ongoing concerns over the security of Saudi Arabian oil supply to the world market.
Oil price gains spur fuel surcharge for cruise passengers Passengers on yet another cruise line asked to pay as bunkering costs surge.
Singapore: Sempra out of the box and back on trading screen Sempra Energy has been given permission to resume trading on the Page 190 electronic trading platform.
Japan: July bunker contract prices end bearish run Retroactive bunker prices up for the first time since April.
Aegean secures extended US Defense contract The US Defense Energy Support Center has renewed a contract with Greece-based bunker supplier for the supply of bunkers.
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