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Korean yards rethink strategy despite glut
THE world's biggest shipyard is so busy, management had to reinvent shipbuilding to keep up with demand.
Littoral states to meet in June to ponder new anti-piracy steps
THE foreign ministers of Malaysia, Indonesia and Singapore will meet in June to map new strategies to guard ships against piracy in the busy Malacca Strait, Malaysian Foreign Minister Syed Hamid Albar said.
Oil demand keeps tanker rates high: Teekay
TEEKAY Shipping Corp said its fleet of oil tankers, the world's largest, is running at capacity as oil-producing nations seek to meet rising in demand for the fuel.

Port Shots

Port Shots
INTERNATIONAL Container Terminal Services Inc, which operates ports in Poland and Japan, said first-quarter profit rose more than two-thirds as the Philippine company handled more cargo at home and in Brazil.

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Shipping News

Korean yards rethink strategy despite glut
THE world's biggest shipyard is so busy, management had to reinvent shipbuilding to keep up with demand.
Littoral states to meet in June to ponder new anti-piracy steps
THE foreign ministers of Malaysia, Indonesia and Singapore will meet in June to map new strategies to guard ships against piracy in the busy Malacca Strait, Malaysian Foreign Minister Syed Hamid Albar said.
Oil demand keeps tanker rates high: Teekay
TEEKAY Shipping Corp said its fleet of oil tankers, the world's largest, is running at capacity as oil-producing nations seek to meet rising in demand for the fuel.

Port Shots

Port Shots
INTERNATIONAL Container Terminal Services Inc, which operates ports in Poland and Japan, said first-quarter profit rose more than two-thirds as the Philippine company handled more cargo at home and in Brazil.

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Q1 results show sustained performance: NOL Rickmers-Linie boosts capacity with charters P&O chairman reviews company's progress during AGM

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Rickmers-Linie adds capacity with charter vessels Asian shipowners voice concern over piracy PIL launches service from far east to east coast of south america NYK, Hapag-Lloyd in North Europe to Mediterranean service Royal P&O Nedlloyd's operating profit surges by 252 pc in Q1 2005 Danish shipping industry earns ' 19 bn for economy Talk of yuan revaluation perks up steel exporters Trade growth with India hinges on J&K issue, says Pak PM Mangoes exported thru' reefers at VCT Wheat exports unlikely, says grain exporters' assn. chief Model agreement on PPPs in port sector to be framed MoS to seek Cabinet nod for Rs 600-cr. corpus fund Dock workers hail decision to merge 50 pc D.A. in basic pay East West Freight Carriers plans increased focus on Gujarat Govt seeking rail, road transit facilities with Bangla: Minister RBI Working Group recommends Warehouse Receipts Act Kamal Nath assures exporters of full support to achieve $ 92-bn target Move to revise base of Consumer Price Index-series welcomed India trying to rope Pak into oil pipeline project with Iran Bill to amend labour laws cleared Indian business in Nepal unaffected by Maoist violence: Minister

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MAY 13, 2005
Japanese shipping firm leaves cargo industry forum Mitsui OSK Lines announces its intention to leave the Westbound Transpacific Stabilization Agreement Vietnamese tanker sinks after collision Two tankers collide, up to 100 tonnes of diesel may have spilled NOL posts strong Q1 despite bunker costs increasing $29 million Bunker expenses in the first quarter were $29 milllion higher than in the same period last year, although strong container demand kept growth solid. Tokyo authority to target shipping emissions The Tokyo Metropolitan Government is planning to take action to reduce emissions from oceangoing vessels berthing at Tokyo Port, following a report that ships emit about eight times more SOx a year than the total amount emitted by automobiles in the area. Crude: Traders predict further sell-off despite rebound After yesterday's plunge in crude prices, today's rebound was seen as a temporary blip by traders and analysts who say the market is still in a bearish trend. Turkish Bunker Association gains momentum The Turkish Bunker Association has made significant progress over the past year. Rotterdam market remains tight Hong Kong: Bunker tank leakage causes tight avails Hong Kong's bunker market will soon face an acute shortage for 380 centistoke (cst) bunker fuel following a leakage problem at a 380 cst storage tank, traders said. Supplier offering "bargain" bunkers in Colombia One month special promotion aimed at luring buyers who traditionally bunker in Panama to consider Colombia as a cost effective option. Titan plans for double-hulled tankers Titan Petrochemicals chief executive has revealed plans to replace its fleet of single-hulled vessels to double-hulled vessels by 2010. Portland's bunkering benefits from high demand A joint venture between BP and Portland Bunkers International to provide bunkering services at Portland has reaped success on the back of high fuel oil demand.

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MAY 13, 2005
"Father" of the "Eisbeinessen" dies Irish exporters to benefit from latest APL expansion Cargolux Airlines adds flight to Ammann Impect Intermodal launches new 45-foot container Kuehne + Nagel acquires Gebr. Mönkemöller Japan and India to consider exclusive freight corridor Groupe Alloin develops RFID application with NBG ID

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MAY 13, 2005
Japanese firms benefit from buoyant markets Ship Finance buys box boats Higher claims hit North of England Rickmers adds capacity Average adjusters tackle "physical damage" definition

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MAY 14, 2005
Pentagon names Navy BRAC closure targets

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MAY 13, 2005
Greenbrier concludes sale of common stock shares US rail freight traffic has upbeat April Port of Portland Commission Oks PDX bike, pedestrian path Port of Portland sells land to Becker Trucking, Inc. Corps wants public input on compensatory mitigation scheme

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Dry bulk duo tap fresh cash in New York THE dry bulk sector's march towards 'legitimacy' in New York continued unabated last week, as two new names filed regulatory documents proposing to raise $100m and $62m, respectively, from the public markets. TOP Tankers' deal set back by securities collapse A SUDDEN cooling of the market for convertible securities was blamed for the apparent setback suffered by Evangelos Pistiolis' Nasdaq-listed TOP Tankers in its efforts to place a $300m tranche of preferred stock last week, write Rajesh Joshi and Nigel Lowry. Sterling bows out in mint condition Lord Sterling was able to bow out after more than 21 years as chairman of P&O on an upbeat note at the ports and ferries group's annual meeting.

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MAY 13, 2005
MOL leaves Pacific agreements MOL Lines, the wholly-owned US subsidiary of Mitsui OSK Lines, has announced it will resign from both the Westbound Transpacific Stabilization Agreement (WTSA) and the Canada Westbound Transpacific Stabilization Agreement (CWTSA) effective 12 June NOL inducts former PONL chief SINGAPORE listed Neptune Orient Lines has inducted Timothy Harris, former CEO of P&O Nedlloyd into its Board as non-executive member Star Cruises ventures into Nepal STAR Cruises is venturing into the Himalayan kingdom of Nepal following an "encouraging response" in the Indian market Hyundai forced into the red HYUNDAI HI, the world's biggest shipbuilder, has slumped to a loss of W88.9Bn ($88.7M) for the first quarter of 2005 despite a W3Bn increase in turnover NCL in Bermuda yacht scare NORWEGIAN Cruise Line's 40,800gt cruise ship Norwegian Majesty hit three yachts while coming into Bermuda on 11 May, almost sinking one New UK shipping minister A NEW UK minister with responsibility for shipping and ports has been appointed following the UK's general election on 5 May New passport rules from 26 June NSB sounds training alarm Filipino seafarers hit by HIV Heung-A reaps cost savings Box growth stabilising NOL makes huge profit for 1Q MC up after reorganisation SFI branches into boxes MD of MOL (Europe) steps aside Claims up at North of England

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MAY 13, 2005
Record profits for Japan's Big Three Growing volumes boost NYK, "K" Line and MOL but higher fuel prices and a stronger yen are expected to bite earnings in the current year. Analysis: WCO plan for global trade faces hurdles NOL profit up on strong demand U.S. approves China textile curbs DHS sets $140M in port grants CP Ships hikes N. Atlantic rates Union threatens Canada rail strike Box lessor Cronos' income soars BNSF building CA logistics center Laden joins Trade Innovations

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MAY 13, 2005
ECT option on EuroMax shares could preclude AP Møller purchase Hutchison Port Holdings' (HPH) subsidiary ECT could activate its first option buy-out clause in its EuroMax 50:50 joint venture with P&O Nedlloyd (PONL). MOL, PIL introduce new Asia/ECSA service, as PONL goes it alone Following P&O Nedlloyd's declaration of independence on the South America/ Africa/ Asia (ASAS) service it operates with MOL, the latter has established a new partnership with PIL in the trade. Rising costs put the squeeze on margins says NOL MOL withdraws from WTSA and CWTSA CN brushes aside criticism of freight forwarding initiative Lord Sterling stresses P&O commitment to APMM offer is conditional RCL sees net profits rise 282% TS Lines adds Thailand loop to JTK4 service Income and cost benefits raise Heung-A's Q1 profits Inchon announces measures to boost volumes Second management reshuffle for CMHI this week Growth sees TCT add yard space and equipment UK shipping and ports portfolio allocated

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MAY 13, 2005
Signs of Aries The company formerly known as Magnus Carriers of Greece is set to become latest owner to tap US public markets. Thirsty master fined £2,000 UK warns seafarers that it knows exactly what to do with drunken sailors. Wexford goes for IPO Fund manager gets aboard the dry bulk boom with a plan for a $100m flotation of a six vessel fleet. Heung-A improves again First quarter cheer for Korean boxship and tanker owner as profit grows. MOL abandons WTSA Japanese line opts to go it alone on westbound transpacific routes. Genmar given clean bill of health Tanker owner escapes credit downgrade after fourteen-week probe. Boulanger takes reins at FMIUG BP freight chief to head lobby group after Simon Toyne decamps to broking outfit. RCL lifts more Expanding Thai container line is picking up quite a few more boxes and dollars too. New services boosts NOL Growth of APL container line keeps Singapore shipping group on course despite rising costs. Owner fined over Cyprus call Greek ferry in hot water after breaking embargo by delivering cars to Turkish Cypriot port of Famagusta. Segura asks for more Biggest shareholder of Japanese shipbuilder Namura Zosen would like a higher dividend. Navibulgar sell-off in doubt Socialist party leading the polls in Bulgaria would scrap privatisation after June election. Hamworthy adds four Samsung signs up for more LNG reliquefaction systems from UK manufacturer. Flames engulf ship Twenty-seven crewmembers rescued in Persian Gulf after engine room fire gets out of control. Hyundai meets expectations... ...of heavy losses in the first quarter. Earnings jump at Labroy Coal transportation and yard activity help lift bottom line at Singapore shipbuilder and shipowner. Kyoei Tanker on the up Japanese owner's annual profit soars after ship sales, while Taiheiyo Kaiun edges up earnings. OOCL upgrades Baltic links Hong Kong-based liner company is adding a second string to its Scandinavia and Baltic services.

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MAY 13, 2005
APL Liner sees costs pinch margins MOL to quit WTSA, CWTSA MOL, PIL team up in Asia/South Africa/East Coast South America trade MOL's profits up 77%, sets higher financial targets British Airways increases annual profits despite poor 4th quarter Dragonair plans U.S. expansion NIT League pushes for more uniform fuel surcharges Stotlar brings team approach to Con-Way, Menlo OTS Logistics Group acquires Ocean World Shipping in Hong Kong WCO releases final draft security standards framework FDA to hold meetings on Bioterrorism Act record-keeping requirement Long Beach traffic growth returns to double-digits in April Former MOL executive Doi promotes port of Charleston in Japan

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MAY 13, 2005
Ship Finance buys boxships from Fredriksen Ship Finance International buys two 1,700 TEU boxships newbuildings, the "Sea Alpha" and "Sea Beta", from John Fredriksen, the company's ... Maritime roadshow to schools and universities Danish Shipowners' Association (Danmarks Rederiforening) and the Association for smaller ships (Rederiforeningen for Mindre skibe) have launched a roadshow to ... Conflict avoided in Swedish ports The Swedish Dockworkers Union have called of all notices of strike actions in Swedish ports. The employers organisation Ports of ...