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.
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.
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.
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.
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
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.
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
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 ...
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