Patrick rejects Toll's hostile A$4.3b bid as too low PATRICK Corp, Australia's biggest port cargo handler, rejected Toll Holdings Ltd's hostile A$4.3 billion cash and stock bid as too low, saying earnings will rise more than 60 per cent over the next two years.
Asia freight rates ease but hold near four-month high FREIGHT rates from the US Gulf to Asia edged down but held near a four-month high yesterday as prospects of rising demand towards the year-end kept ship owners keen to raise offers, brokers said.
Deadline on bids for China Shipbuilding stake extended TAIWAN's government extended the deadline for entering bids for a majority stake in China Shipbuilding Corp after receiving fewer than the number of bids required under the island's rules.
Strait Talk
SUA Convention needs support to be effective THE oddly named SUA Treaties were the subject of attention at the International Maritime Organisation in London last week.
Port Shots
Port Shots SHARES of shipbuilder Samsung Heavy Industries Co fell for the second day to close at a five-week low on a report that a liquefied natural gas tanker it built for BG Group plc is leaking.
Patrick rejects Toll's hostile A$4.3b bid as too low PATRICK Corp, Australia's biggest port cargo handler, rejected Toll Holdings Ltd's hostile A$4.3 billion cash and stock bid as too low, saying earnings will rise more than 60 per cent over the next two years.
Asia freight rates ease but hold near four-month high FREIGHT rates from the US Gulf to Asia edged down but held near a four-month high yesterday as prospects of rising demand towards the year-end kept ship owners keen to raise offers, brokers said.
Deadline on bids for China Shipbuilding stake extended TAIWAN's government extended the deadline for entering bids for a majority stake in China Shipbuilding Corp after receiving fewer than the number of bids required under the island's rules.
Strait Talk
SUA Convention needs support to be effective THE oddly named SUA Treaties were the subject of attention at the International Maritime Organisation in London last week.
Port Shots
Port Shots SHARES of shipbuilder Samsung Heavy Industries Co fell for the second day to close at a five-week low on a report that a liquefied natural gas tanker it built for BG Group plc is leaking.
Patrick rejects Toll's hostile A$4.3b bid as too low PATRICK Corp, Australia's biggest port cargo handler, rejected Toll Holdings Ltd's hostile A$4.3 billion cash and stock bid as too low, saying earnings will rise more than 60 per cent over the next two years.
Asia freight rates ease but hold near four-month high FREIGHT rates from the US Gulf to Asia edged down but held near a four-month high yesterday as prospects of rising demand towards the year-end kept ship owners keen to raise offers, brokers said.
Deadline on bids for China Shipbuilding stake extended TAIWAN's government extended the deadline for entering bids for a majority stake in China Shipbuilding Corp after receiving fewer than the number of bids required under the island's rules.
Strait Talk
SUA Convention needs support to be effective THE oddly named SUA Treaties were the subject of attention at the International Maritime Organisation in London last week.
Port Shots
Port Shots SHARES of shipbuilder Samsung Heavy Industries Co fell for the second day to close at a five-week low on a report that a liquefied natural gas tanker it built for BG Group plc is leaking.
General Maritime praised for single-hull tanker sell-off GENERAL Maritime yesterday was adding up praise from friend and foe in addition to a $109m book gain as it confirmed the $294.5m sale of 10 single-hulled and double-sided tankers to Tanker Pacific.
Malarde, champion of Erika victims, is ejected from IOPC Fund meeting TO REVISE or not to revise was the question on everyone's lips as International Oil Pollution Compensation Fund meetings continued yesterday on the future revision of the Civil Liability and Fund Conventions which govern compensation for oil pollution incidents.
Samsung shares suffer LNG jitters SAMSUNG Heavy Industries' share price took another beating yesterday, sliding 3.6% as concerns over a shipboard liquefied natural gas containment system leak refused to blow over.
Minister lobbied on regeneration potential of Harwich deepsea terminal THE UK government is coming under renewed pressure to give consent for a deepsea container terminal in Harwich, with more than 200 members of parliament invited to a reception yesterday to hear the case for the new facility, writes Janet Porter.
Jan de Nul beats rivals to take Jebel Ali Port prize BELGIAN dredging and civil engineering group Jan de Nul beat half a dozen competitors to win a Dirham1.85bn ($500m) contract to construct a second container dock at Jebel Ali Port in Dubai.
GenMar sells ten to Tanker Pacific GENERAL Maritime has sold ten Suezmax tankers to Tanker Pacific for a total cost of $294.5M
Passengers rescued after collision THE 12,500gt ferry Pride of Al Salam 95, with about 1,300 Muslim pilgrims on board, collided with the 75,000dwt bulk carrier Pearl of Jebel Ali yesterday evening
Wilma turns toward Florida TROPICAL storm warnings remain in effect today for Honduras and Nicaragua as Wilma begins its expected northwest turn toward Florida and away from Gulf oilfields
Fesco admits performance problems FAR Eastern Shipping Co, Russia's third largest operator, admitted today that there are problems in the performance of its foreign-flag companies
Mercator quashes takeover rumours MERCATOR Lines, the Indian operator, has strongly denied widespread rumours that it is involved in taking over a foreign shipping company
Aspo (ESL Shipping) issues warning ASPO, the Finnish chemicals and shipping group, has warned of a fall in its full year operating revenue, but did not clarify why
Weather damps U.S. rail traffic Accumulated effects of recent hurricanes and other storms hurt total carloads, but railroads continue to see impressive
Mobsters testify in ILA trial
Baltimore harbor tunnels reopened after terror threat
Move to limit Jones Act waivers
Corps OKs Virginia box port expansion
Tacoma, Yang Ming open new terminal
Record net for Canadian National
Wilmington, N.C. upgrades terminal operating system
Union contemplates further RSC Rotterdam stoppages Rail Service Centre Rotterdam (RSC) faces further labour unrest following a first four-hour disruption over the new collective wage agreement on Monday, after a negotiation deadline expired last Friday.
Hong Kong Port regains temporary momentum Hong Kong has regained its title as the world's top container port, surpassing rival Singapore, in the first nine months of the year, but the effect might be short-lived.
Haven Gateway lobbies MPs ahead of UK Government container port decision
Wilma forecast to become 'major hurricane' in US Gulf
SAECS to revise Europe-South Africa trade
Three liners consider new Asian service
Patrick and FCL form 'alliance'
Impasse in JN Port road toll dispute
Grand Alliance adds Middle East call to Asia-Europe loop
Falcon flies into action on Asia-MidEast trade route
'Highway H20' setting the baseline with market study
Australian hauliers advised of 'viability' fuel levies
Investors not impressed Wall Street punishes shares of General Maritime on tanker selloff and OMI despite its bullish market outlook amid general energy bloodletting.
OMI lauds Genmar Connecticut owner throws bouquets toward suezmax competitor for disposal of older units.
Severnav back on track Romanian shipbuilder turns around last year's nine-month loss thanks to cost-cutting.
Genmar confirms 10-tanker sale New York owner will realise gain of $109m from $294.5m deal with Tanker Pacific and will pay down debt rather than boost dividends..
Few takers for CSBC Taiwanese government extends deadline for yard sale after receiving less than three bids.
Samsung slumps again Share price of South Korean shipbuilder takes another battering from TradeWinds' LNG carrier leak scoop.
SBM offloads FPSO ExxonMobil exercises purchase option for production vessel it charters from Dutch owner.
SCI reveals hand Indian giant's boss Sabyasachi Hajara outlines five-year investment cycle to boost cargo business.
Imabari loses president Eiji Higaki the expansionist chief of family owned Japanese shipbuilding giant dies at 66.
Torm back in favour Newly optimistic outlook for product sector wins Danish owner an upgrade from Jefferies.
Genco gets Muse Peter Georgiopoulos' US listed bulker operation takes delivery of Western Bulk handymax.
Romania cancels yard tender State tries to drum up more interest in sell-off of Santierul Naval Mangalia, despite Daewoo bidding.
One dead in ferry collision Stampede blamed for passenger death after Egyptian vessel hit Cypriot cargoship at entrance to Suez Canal.
HVS seals more PCTCs Joint Korean-Vietnamese yard to enlarge two more pure car/truck carriers for Wallenius Lines.
B+H plans share buyback US owner to repurchase up to 10% of its stock as it rejigs loan facility to help pay for acquisitions.
K Line fixes out VLCC Kawasaki Shipbuilding Corp newbuilding due for delivery in June 2007 fixed to US oil major ExxonMobil.
Tricolor sails again in NYC 'Why did he turn to avoid a ship as far away from him as the Statue of Liberty...?'
Red Sea rejig Evergreen, Hapag Lloyd and Cosco merging two routes into one, but with bigger ships and China link.
Double-digit growth at NOL Continued demand growth helps lift containers handled by Neptune Orient Lines jump by 11%.
Eukor car carriers to be lengthened in Vietnam The South Korean company Eukor Car Carriers follows the example of Wallenius by lengthening two existing vessels complementary to ordering ...
Diplomatic solution to trawler incident Norway and Russia were this aftenoon working to find a diplomatic solution to an incident involving the runaway Russian trawler ...
Bergesen to order LNG carriers Bergesen Worldwide Gas is poised to order two 156,000 cbm LNG carriers with a total price tag of more than ...
Barge operators, suppliers could face 'spill' bill New legislature in the US state of Washington looks to introduce new stiffer rules for ships refueling in the Puget Sound.
Uruguay: Marine distillates drained by refinery maintenance Sudden maintenance of units producing marine distillates leaves market with no supply.
Reports: ADNOC unit to build new Fujairah refinery ADNOC unit reportedly planning to boost refining capacity by 60% with new refinery.
Opening bell marks Global Partners IPO US bunker fuel wholesale distributor's chiefs mark completion of IPO by ringing the NYSE opening bell.
Suriname: Increased barge fees to be implemented Suriname state oil company announces barge fee increases with one port at double rates.
BP: Belgian consolidation for clarity, efficiency and synergies BP explains rationale behind consolidation of Belgian lube plants.
Office move to accommodate expansion
Singapore: Tight supplies shrink spot market Bunker fuel in Singapore is continuing its tight run with bunker traders finding it hard to fulfil enquiries in the spot market.
Four firms shortlisted to dredge Sethusamudram project Four companies shortlisted to dredge for India's Sethusamudram project, which may open for the first commercial vessel passage in 2008.
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