China ports prepare for IPO spree, fuelled by export boom CHINESE container port operators, preparing IPOs to fund expansion, hope China's export-driven growth story overcomes market concerns about overcapacity and a global shipping cycle that is past its peak.
Offshore production vessel bound for Nigeria ONE of the world's largest offshore oil and gas production vessels will soon depart Singapore bound for Nigeria's rich offshore petroleum fields following completion of the final portion of the project by SembCorp Industries subsidiaries, SMOE and Sembawang Shipyard.
China imports seen boosting shipping rates THE cost of shipping commodities such as iron ore, coal and crude oil is poised to rise through the rest of this year as Chinese steel mills and refineries increase imports, shipbroker Lorentzen & Stemoco said.
Cheap Fredriksen charter deal fuels container rate slide fears NORWEGIAN shipping mogul John Fredriksen has fixed his second containership at a rate that provides further evidence of a sinking market. The 1,740 teu Sea Beta has been chartered for four to six months at a reported $24,000 a day.
London P&I Club in lift safety warning A PROMINENT liability insurer has reminded shipowners to follow strict safety and maintenance procedures for onboard elevators after a serious accident when a crewmember fell down a lift shaft, writes Janet Porter.
'Greedy' shipyards priced out of market PROFITEERING shipyards are shooting themselves in the foot by demanding unrealistic prices to assuage current losses, Gulf Energy Maritime said yesterday.
US plumps for Jones Act waiver extension MAJORITY opinion in the US shipping industry is happy to see the Jones Act waiver ride as long as necessary to facilitate post-Katrina reconstruction, a leading industry figure has argued.
US longshore leader pleads guilty ONE of three senior longshoremen set to stand trial next week on corruption charges has pleaded guilty in a Brooklyn federal court
Jordan secures US wheat contract JORDAN has secured a $10M soft term US loan to purchase 54,000 tonnes of American wheat
EU ultimatum for Turkey THE EU says it expects Turkey to recognise the Republic of Cyprus or find its application for EU membership blocked
MarAd confirms cruise slowdown CRUISE statistics compiled by the US Maritime Administration confirm that the frenetic double-digit growth of the past has now abated
Bulker crew hit by food poisoning A stomach illness that hit several of the seafarers on the aggregates carrier Yeoman Bridge has forced the ship to put into Stornoway, northwest of the Scottish mainland
Ballast bugs still a threat: report INVASIVE species from ballast water exchanges continue to threaten US waters, according to a federal study released last week
Hurricane slows along Carolina coast Ophelia pelting North Carolina coastline with heavy rain and wind; slow-moving storm may not make landfall for two days.
Photos: Port of New Orleans
Coscon, "K" Line, Hanjin launch S. China-Mid-East service
Bush: U.S. ready to drop all trade barriers
Customs delays implementation of wood packaging rules
Previous overbooking increasingly prompting re-lets, say brokers The charter market may be suffering from an overhang of over-estimation and over-booking, leading to the current lack of fixing activity, while re-lets are becoming more common.
Strike averted but 'bleak financial situation' sparks Toronto trucker talks A threatened work stoppage by truckers serving Toronto's intermodal terminals appears to have been averted, at least for the moment, following talks involving key stakeholders yesterday.
Fuel price prompts road-protests in Bangladesh
Russian government confirms Fesco foreign placement under discussion
McKay pleads not guilty US prosecutors are accusing the head of the American Maritime Officers (AMO) and three others of embezzlement, election rigging and fraud.
St Tropez sold off V.Ships takes a punt on gaming cruiseship at auction in US.
Torm to bank Katrina profit Freight rate surge after US storm to add $25m to Danish tanker owner's 2005 pre-tax figure.
USCG resumes HQ The US Coast Guard is re-establishing its New Orleans HQ while an Army Corps of Engineers maritime leader resumes normal duties.
Trio launch Middle East run Coscon, K Line and Hanjin to operate four ships from South China in October.
Shun Tak slips Revenues and profits dip for Hong Kong owner's fast ferries in first half.
Sick crew taken from bulker Doctor treats rest of crew for suspected food poisoning on V.Ships vessel off Scotland.
Farstad sells again Norwegian owner pockets another ship-sale gain in deal with Sartor Shipping.
Bourbon builds profit French bulker and offshore vessel owner targeting expansion as money rolls in.
Teekay adds half Aframax giant ups quarterly dividend by 51% following LNG Partners share offering.
Gratis Greek ferry in hurricane relief Greek Anek Lines has offered at no cost one of their ferries as a part of a Greek relief package ...
Traffic to New Orleans is picking up Commercial shipping began working the Port of New Orleans this week, two weeks after the devastation left by the Hurricane ...
Shtokman shortlist ready on Friday A short list of potential partners on the huge Shtokman natural gas field in the Barents Sea will be published ...
Ophelia closes Carolina, Virginia ports Ports Wilmington and Norfolk close until further notice as hurricane threatens US East Coast.
DOE & API: US oil market still reeling from Katrina Oil prices rebound after stocks of crude and distillates drop, but reports show surprise recovery in gasoline inventories as Americans balk at high prices.
EU Directive looks to IMO for sampling guidelines The EU Marine Sulphur Directive requires sampling, analysis and inspection to ensure compliance with sulphur limits, but individual Members States are free to choose how.
Marine lubes worst hit by base oil price rises Heavy dependency on bright stock has meant that the marine lubricants industry has been hit hardest by recent rises in base oil prices.
Island Oil absorbs another bunkering company Greek bunker broker company joins Island Oil Hellas this week.
Rotterdam barge bids catching up with offers
Bunker surcharge to increase on Mid-East route Bunker surcharge for feeder lines operating vessels between Middle East and subcontinent will increase from tomorrow.
Cargo lines raise bunker surcharge Trans-Atlantic cargo lines has announced an increase in bunker surcharges for shipments to and from the US.
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