New ship prices on the decline, says Clarkson SHIPBROKER Clarkson has cut its assessment of new ship prices from records because of falling demand for vessels and lower steel prices.
Teekay, Mitsui OSK among firms set to win US$3b Qatar tanker order TEEKAY Shipping Corp, the world's largest oil tanker company, and Mitsui OSK Lines Ltd, Japan's second-biggest shipping line, are among a group set to win a US$3 billion order for liquefied natural gas tankers from Qatar.
M&A can wait till share and vessel prices fall: Teekay TEEKAY Shipping Corp, whose ships carry more than a 10th of the world's seaborne crude oil, will avoid purchasing smaller competitors until share and vessel prices decline, said chief executive Bjorn Moller.
Australia closes anti-trust case against Stolt-Nielsen
US still debating rule for US$1 container security seals
Port Shots
Port Shots THE price of oil tankers and other vessels to be scrapped fell last week in Bangladesh and India, the world's biggest ship demolition markets, because of a drop in prices of recycled steel plates.
New ship prices on the decline, says Clarkson SHIPBROKER Clarkson has cut its assessment of new ship prices from records because of falling demand for vessels and lower steel prices.
Teekay, Mitsui OSK among firms set to win US$3b Qatar tanker order TEEKAY Shipping Corp, the world's largest oil tanker company, and Mitsui OSK Lines Ltd, Japan's second-biggest shipping line, are among a group set to win a US$3 billion order for liquefied natural gas tankers from Qatar.
M&A can wait till share and vessel prices fall: Teekay TEEKAY Shipping Corp, whose ships carry more than a 10th of the world's seaborne crude oil, will avoid purchasing smaller competitors until share and vessel prices decline, said chief executive Bjorn Moller.
Australia closes anti-trust case against Stolt-Nielsen
US still debating rule for US$1 container security seals
Port Shots
Port Shots THE price of oil tankers and other vessels to be scrapped fell last week in Bangladesh and India, the world's biggest ship demolition markets, because of a drop in prices of recycled steel plates.
Green scoops £5m from Maersk deal TAKEOVER target Royal P&O Nedlloyd's boss Philip Green is set to bank £5.4m ($10.2m) from Danish shipping giant AP Møller-Maersk's €2.3bn ($2.9bn) swoop on the Anglo-Dutch operator.
IACS clinches 'peace in our time' A LANDMARK deal was clinched last night in Paris for a single set of global shipbuilding standards intended to make new ships stronger and safer, but almost certainly more expensive.
Cosco will offer hefty dividends AN EARLY viewing of the draft prospectus for the forthcoming initial public offering of Cosco Holdings shows the mainland shipping firm is offering large dividends as a sweetener for investors worried the container offering might be launching as the market peaks.
Bulker quarantined amid Marburg bug death alarm A BULK carrier remains in quarantine off Réunion after the death of a seafarer sparked fears of an outbreak of the horrific Marburg virus, writes David Osler.
Flemming Jacobs joins DVB Bank's board DVB Bank, Frankfurt, specialist in the global transport market including ship finance, has announced the appointments of Flemming Jacobs and Robert van der Burg to the bank's supervisory board, writes Valerie Tadesse in Cologne.
Stolt off hook in Australia THE Australian Competition & Consumer Commission has found insufficient evidence to pursue investigations into alleged cartel practices by Stolt-Nielsen Transportation Group
Profits up 127% at SCI SHIPPING Corp of India (SCI) has increased net profit by 127% to Rs14Bn ($323M) for the financial year 2004-05, helped by an extraordinary tax write-back
EU report on conferences released THE abolition of EU liner conferences would not have any significant impact on capacity or market structure, according to a report to the EU Transport Directorate
Trans-Pac ag rates rising Exporters facing higher freight rates from Tacoma (left), other ports as carriers struggle with growing trade deficit imbalance.
Hutchison confirms HIT share sale to PSA Hutchison Whampoa announced yesterday that it had signed an agreement to sell 20% and 10% stakes in Hongkong International Terminals (HIT) and Cosco-HIT respectively to PortCapital, PSA International's investment company.
Sino-EU textile negotiations avoids trade war
Euro parliament to host 'delicate' public hearing on port services directive
Netherlands rail transport strike announced for Friday
Chinese foreign trade shows healthy growth
Maruba west-coast shuttle service to create Americas gateway
EC report: Major trades to see lesser impact from any conference abolition
South American neighbours discuss port swap scheme
Capital ideas Marinakis' Capital Maritime & Trading poised to be next company to US public equity market.
Capital Maritime seeks $250m Marinakis family offering could top $300m with underwriter shares for 35-unit mixed fleet of products tankers, OBOs and bulkers.
Slobbe takes the helm High flying Dutchman set to be sole top level Royal P&O Nedlloyd survivor of Maersk takeover.
MAIB slams manning levels UK accident investigators call for IMO or EU to set minimum crewing levels.
Greenbacks for Green AP Moller - Maersk confirm that P&O Nedlloyd takeover will put $10m in Philip Green's pocket.
Eitzen buys again Listed Nowegian shipping group spends $10m to add to its chemical carrier fleet.
Baltic slashes loss London shipping exchange half way to breakeven plan aimed at paying hefty dividends.
Sumatec adds tanker Malaysian shipping newcomer raids Japan for products carrier.
SCI banks huge profit Indian owner builds earnings in year to 31 March, adding to war chest for acquisitions.
US ship detentions rise Coast Guard reveals setback to steady improvement in shipping safety standards.
BC Ferries boosts bottom line Better year for Canadian owner to 31 March, but rising fuel prices causing concern.
No action down under Stolt-Nielsen cartel probe wound up in Australia due to insufficient evidence.
Rieber leases long-term Norwegian owner's cable-layer chartered to Stolt Offshore for up to nine years.
Bibby takes charter plunge UK owner signs up Volstad Maritime's diving/construction newbuilding for the long term.
Eimskip orders more reefers Icelandic owner adds another two ships to newbuilding backlog and also agrees options for four more.
Li Ka-Shing backs Cosco IPO Asia's richest man confirms $150m investment in Cosco Holdings' Hong Kong initial public offering.
Gas scare halts boxship Eimskip's 841-teu Lagarfoss (built 1995) delayed off Aberdeen after crew find ammonia gas leak.
Offer launched on Royal P&O Nedlloyd A.P. Møller-Mærsk A/S has now launched its official offer for the shares in Royal P&O Nedlloyd. The ...
Bulk carrier free from Great Belt position The Greek owned bulk carrier "Eleftheria", which grounded in Great Belt last week, is now salvaged. Sunday afternoon after nearly ...
"Schieborg" back in service The ro-ro vessel "Schieborg" has re-entered the Cobelfret service Göteborg ' Zeebrügge after extensive repairs. The vessel was badly ...
Light demand for bunkers on US west coast Ships in port in Los Angeles but suppliers not seeing enquiries coming in.
Fuel costs force Canadian ferry operator to seek surcharges BC Ferries to impose passenger and vehicle surcharge to cover high fuel costs.
Brand new tanker to service Portland bunker station Southampton-based tanker operator Crescent Tankships, which is set to double its fleet with new-builds by mid-2007, expects its newest tanker to begin service for BP Marine in Portland shortly.
Significant international interest in Turkish bunker venture Turkish Petroleum distributor Petline has said that it has already received significant international interest for its proposed joint venture bunker operation in Turkey.
MPA: Corrupt manager's sentence an effective deterrent The sentence imposed on the former manager of Lungshan Petroleum will act as an effective deterrent against corrupt practices in Singapore's bunker industry, officials have said.
Bunkering company established in Tokyo A Japanese company called International Bunker Services K.K. (IBS K.K.), part of a huge Danish shipping and bunkering group, has recently been set up in Tokyo.
Rotterdam barges heading higher at midday
Hong Kong: Impending cleanup works may affect bunker supplies Major maintenance and cleanup works on bunker fuel tanks are expected to commence this month leading to possible tightness, market sources said.
Crude prices fall after passing storm The passing of Tropical Storm Arlene with minimal disruption to US oil supply from the Gulf of Mexico sent crude oil prices falling below $54 in New York on Friday.
NYMEX and Dubai sign partnership to build futures exchange NYMEX and Dubai have signed a deal to build the first energy futures exchange that will also offer futures trading in marine oil at the port of Fujairah in the Middle East.
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