PSA wraps up 2nd joint venture in S'pore with shipping line PSA Corporation has formed a joint venture with Mediterranean Shipping Company here - its second tie-up with a shipping line at its coveted Singapore terminals.
NUS to offer two maritime professorships TWO professorships are being set up at the National University of Singapore in another step towards developing Singapore as a premier centre for maritime R&D.
HK port's Nov box volume declines HUTCHISON Whampoa, PSA International and other operators of Hong Kong's port handled 7.9 per cent fewer containers in November than last year, as competition from neighbouring Chinese ports increased.
Three masters face prosecution over Elbe collision HAMBURG shipping police has launched criminal proceedings for endangering shipping against all three masters involved in the serious accident on the river Elbe, near the entrance to the Kiel Canal.
Aon issues safety warning over LNG overcapacity fears Overcapacity in liquefied natural gas shipping could be as much as 12% in the next few years, Aon, a leading insurance broker and risk management consultant, has predicted.
Genmar bond buyback could trigger huge expansion drive GENERAL Maritime has cleared the decks for a potentially huge expansion drive by tendering to pay off an outstanding $226.48m series of bonds.
Babcock & Brown grabs PD Ports cut Australian investment firm Babcock & Brown has bought one-third of PD Ports' bond issue following its agreed £337m ($597m) takeover bid for the UK group, writes Tony Gray.
Dubai Ports loses more P&O shares Some more P&O shares have trickled away from the institutional support which Dubai Ports World revealed when launching its £3.3bn ($6.2bn) bid for the British ports and ferries group, writes Tony Gray .
BP makes $9bn on Innovene sale BRITISH oil major BP has sold its Innovene petrochemical business to Ineos in a $9bn deal, leaving the London-based group with profits to give back to shareholders, writes Martyn Wingrove.
Carnival reaps $2.3Bn profit CARNIVAL Corp has revealed massive profits for its fiscal year, following strong earnings for its fourth quarter despite a 50% hike in fuel costs and the worst Atlantic hurricane season in history
Carnival's FEMA charter 'neutral' CARNIVAL Corp has recorded some gains from the three-ship post-Katrina FEMA charter, but the final result is expected to be revenue-neutral
Magsaysay to manage Lorenzo boxships MAGSAYSAY Maritime is taking over management of the fleet of Filipino compatriot Lorenzo Shipping with effect from next month
Petronet bidders make assurance THE joint venture partners that almost secured the Petronet LNG deal have sought to avoid a re-bid by promising to share the benefits of flagging-out with the charterer
Trinidad Train 4 powers up ATLANTIC LNG of Trinidad begins LNG production at its new Train 4 today, substantially hiking the island's export potential to the US
Canada blocks Salt vessel request THE Canadian Transportation Agency has blocked a bid by Canadian Salt to use foreign rather than domestic ships to move salt up the St Lawrence River
China port box volume up 24% China's largest ports handled 67.68 million TEUs in the first 11 months of the year, with volume at Shanghai (left) up nearly 25 percent.
Hamburg faces 1m TEU Maersk Line/ PONL/ TNWA merry-go-round Hamburg is on the brink of an unprecedented ' almost 1m TEU ' cargo merry-go-round, with HHLA losing P&O Nedlloyd business in February and Eurogate losing New World Alliance business in March.
HK Port is sacrificed in competition among terminal operators An industry observer has predicted that the throughput of Hong Kong will continue to see negative growth in 2006, given fierce competition from Shenzhen and HK terminal operators themselves.
Lines look to utilise new Panama Canal capacity
Concor plans JNP, Maersk and POP common rail operation
DP World vehicle shifts down a gear in P&O bid, to 15.8%
Santos halves cabotage cargo rates
Hutchison's terminal in Busan sets record in Korea
Guangzhou and Gothenburg sign sister-port agreement
JV form gives jump-start to start-up, in a consolidation marketplace
China abolishes self-restraint textile export tariffs
Wan Hai completes upgrade CTP
Jakarta and KL resolve to ask for contributions in fight against piracy
Radiation detectors introduced in Canadian ports to thwart terrorism
US Customs seize $11.4m of fake goods, in pre-Xmas anti-shopping spree
Not into bondage Why General Maritime is retiring $226m in high-yield bond debt, and why it's doing it now.
Carnival up, but... Shares head down as cruise company warns 2006 earnings won't meet analyst forecasts.
New name for Wallenius Wilh Car carrier emphasises logistics as new chairman Lone Fonns Schroder set to take over.
MCA holds 10 Disabled cargoship Galina spent all month in Falmouth after losing engine power and requiring tow.
Terney to be released Russian cargoship under arrest for entering North Korean territorial waters in storm could soon return home.
Genmar launches bond buyback Company anxious to cancel $226m-worth of debt at 10% interest.
Horizon hikes fuel charge Shippers will see 2% increase on fuel supplement to Hawaii and Guam.
Jinhui deal hits rocks Charter complications lead to cancellation of agreement to buy modern handysize bulker from Allied Maritime.
Temas targets big jump Indonesian boxship player benefiting from increased efficiency and freight rates in 2005.
Saaremaa secures state subsidy Estonian ferry line agrees final payout for services to Baltic islands, as contract comes up for renewal.
TMM splashes rail cash Mexican tanker owner to buy back 2007 notes using proceeds from railroad share sale.
FreeSeas merger go ahead Deal to provide funds for expansion of Gourdomichalis brothers venture through amalgamation with Trinity Partners secures investor approval.
Vita sells Green City Singapore owner offloads vessel to Indonesian principal in a bid to keep down operating costs.
SMIT expands into Brazil Dutch tug and salvage group takes 50% stake in harbour towage firm and plans major expansion.
SeaDrill still keen in Smedvig John Fredriksen-controlled SeaDrill may make a last-ditch effort to wrist Smedvig from Noble Corp after the big US ...
IACS adopts common rules from April 2006 Common Structural Rules for Tankers and Bulk Carriers have been unanimously adopted by the Council of the International Association of ...
"Vertigo" will come up in the weekend The salvors expects the sunken bulk carrier "Vertigo" to be raised during the weekend. The SvitzerWijsmuller team are preparing to ...
High US prices attract European cargoes Tight avails on the US East Coast driving prices higher and fuel oil traders in Europe looking at arbitrage opportunities.
Freeport has small stem available Limited quantity of IFO380 available in the Bahamas.
Carnival shrugs off fuel price hike Cruise operator posts record fourth quarter results despite a 50% rise in fuel prices.
US: Platform owner to sue barge operator for damage US barge operator downplays lawsuit arising from a collision between fuel oil barge and platform that resulted in damage and oil spill.
Container line ups fuel surcharge US container line to hike fuel surcharge from January 2, 2006 to cover higher bunker fuel costs as well as higher fuel outgoings for its shoreside activities.
Russian bunker association gathers momentum Recently formed association considering several newly received applications for membership.
Rotterdam year-end bookings already tight
Chief engineer fined for spill during bunker transfer Australian court fines chief engineer for oil spill during bunkering.
Chevron holds back participation in state oil spill drill Company not taking part in compulsory Washington state Columbia River drill.
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