Shipping tycoon orders US$1b rigs from S'pore yards JOHN Fredriksen, shipping tycoon and Norway's richest man, has ordered oil rigs valued at more than US$1 billion from yards in Singapore as he bets that high oil prices will boost spending on exploration and production.
US naval shipbuilders urged to reform US naval shipbuilding needs a radical overhaul, government officials, lawmakers and shipyards agree, but they have far to go on actually implementing such a plan, a Pentagon official said on Monday.
Busan Port's May container traffic up slightly SOUTH Korea's Busan port reported only a slight increase of 0.6 per cent in the number of containers handled last month, despite the increasing flow of Asian goods to the US and Europe.
ThyssenKrupp no longer sees Euro shipyard merger
Strait Talk
IACS' common rules - a really welcome development THERE are two quite separate reasons why the recent agreement between the classification societies on Common Structural Rules for tankers and bulk carriers is good news.
Shipping tycoon orders US$1b rigs from S'pore yards JOHN Fredriksen, shipping tycoon and Norway's richest man, has ordered oil rigs valued at more than US$1 billion from yards in Singapore as he bets that high oil prices will boost spending on exploration and production.
US naval shipbuilders urged to reform US naval shipbuilding needs a radical overhaul, government officials, lawmakers and shipyards agree, but they have far to go on actually implementing such a plan, a Pentagon official said on Monday.
Busan Port's May container traffic up slightly SOUTH Korea's Busan port reported only a slight increase of 0.6 per cent in the number of containers handled last month, despite the increasing flow of Asian goods to the US and Europe.
ThyssenKrupp no longer sees Euro shipyard merger
Strait Talk
IACS' common rules - a really welcome development THERE are two quite separate reasons why the recent agreement between the classification societies on Common Structural Rules for tankers and bulk carriers is good news.
Sasakawa pushes 'user pays' principle in anti-piracy fight USERS of high-risk waterways such as the Malacca Strait should contribute to financing the safety of navigation, one of the maritime industries' main benefactors urged last night.
Eagle Bulk offering tipped to be below expected price range EAGLE Bulk Shipping, the capesize dry bulk company aspiring for a Nasdaq listing, was expected to price its initial public offering yesterday with a registration filing setting of $16 to $18 a share as the intended price band, writes Rajesh Joshi in New York.
OPEC vows to combat price hikes THE Organisation of Petroleum Exporting Countries is considering ramping up output by another 500,000 barrels per day in response to oil prices heading towards $60 a barrel.
Ivaran is back after six-year gap THE Ivaran name is being revived in the container shipping trades after a gap of six years.
HHLA drops global expansion plan HAMBURG'S container terminal group HHLA has shelved its worldwide expansion plans in favour of a massive expansion programme for its home terminals on the River Elbe in Germany
Posco to build Indian steel plant SOUTH Korean steel major Posco and the Indian state government of Orissa will tomorrow sign a memorandum of agreement on a $12Bn steel project at Paradip
Singapore to boost freight clearing THE Singapore Exchange plans to introduce an over-the-counter clearing facility that will initially cover energy derivatives and forward freight agreements
Yangshan to open ahead of schedule THE Yangshan Deepwater Port in Shanghai, China is likely to open this autumn, two months ahead of schedule
Gdynia rescue plan postponed POLAND'S Gdynia Shipyard, which is on the brink of bankruptcy, has been forced to postpone a crucial shareholders' meeting because of low attendance
Ivaran back on the Atlantic THE name of Ivaran is back in container shipping for the first time in seven years, this time as an NVOCC on the trade lane from Brazil to Europe
Grand Alliance adds capacity to east/west trades The Grand Alliance (GA) have announced details of one new Asia-Europe and a new transpacific loop from July, inaugurating the peak season, but contracts may have spread out the effects.
Beijing resumes rules on textile exports China's Ministry of Commerce has issued a notice requiring all textile manufacturers exporting to countries with temporary import quotas must apply for export approval permits from July 20.
Long Beach follows LA's lead in cutting dwell times
Vessel shortage slows Panama Canal container growth
August wait for crucial Fonterra decision
Kennedy tunnel closure brings Antwerp's modal split into focus
Saudis undertake GCC rail link study
Tasmanian port management centralised
Tianjin sees 26% growth in foreign trade
STX Pan Ocean established local Singapore corporation
Eagle has landed at $14 New York-based bulker IPO prices below range, but adds 1.2m shares for total take of $202m, as dividend yield soars to record 17.1%.
B+H snaps up fifth OBO Hudner pays $33.25m for 1992 unit and places it on three-year charter at $24,000 per day.
Carnival gambles on Singapore Cruiseship giant chases casino business with Australia's Tabcorp.
Eagle flies low New York-based Eagle Bulk Shipping will be second straight shipping IPO to fall below target pricing range at $14 to $16.
Thumbs down to Euro yard fusion ThyssenKrupp is sufficiently consolidated already, thanks, and says the French should mind their own profitability.
Moller nibbles more Nedlloyd Danish boxship giant brings holding in Dutch rival to 19.1%, ahead of takeover offer.
Norwegian shipowner in jail Accused swindler Tor Johan Stuve is not fighting a two-week term in police custody after his return from Spain.
Matson to build garage decks An e-mail gone astray has revealed how Matson Navigation plans to keep up with competition.
ITF facing EU test Finnish ruling challenges union policy in European Union.
Hindustan in the dock Audit report criticises Indian yard for aborted order of floating dock in China.
John goes ultra-deep Orders for two semi-submersibles takes Fredriksen's Singaporean rig spending spree to over $1bn.
Vinashin looks overseas Vietnamese shipbuilder could sell bonds abroad to raise working capital.
Chance to pollute Vessels passing a grounded bulker may be taking the opportunity to flush their bilges.
Tough times for Finnlines "Exceptionally difficult" first half for ro-ro owner after Finnish paper mill workers go on strike.
ARS bags PDVSA order Argentine yard to cooperate with Venezuela's Dianca on $120m tanker order for oil giant.
Titan in tanker shuffle Hong Kong-listed Titan Petrochemicals has sold its suezmax tanker and chartered in two aframaxes.
TTS reorganises and launches new company in Göteborg Norway's TTS Marine in Bergen has reorganised its activities into three divisions: Dry Cargo Hanling, Marine Cranes and Ports and ...
Labour dispute on the Öresund bridge A conflict between the Swedish union Ledarna and the Öresundsbro Konsortiet could lead to traffic disturbances on the bridge this ...
Aker to build four more boxships for König Aker Ostsee will build another four type CS 2700 boxships for König & Cie. GmbH und Co KG in Hamburg for ...
Panama Canal container volumes show slower growth Reduced container volumes through the canal but bunkering market unaffected.
Valero refutes 'irresponsible' Platts report US energy giant and bunker supplier denies claims that it sold a 250,000 barrel cargo of fuel oil into the US Gulf cargo market because of "major coker maintenance" at the company's Aruba refinery.
Lukoil VP: Russian taxes stifling oil sector growth Russian oil giant Vice President tells Bunkerworld that Russian regime needs to rethink taxation policy, which he claims is stifling oil sector growth.
Danish shipping group employs new Bunker Manager
EU emissions trading moves toward full scope EU emissions trading system is moving towards full participation, but exclusion of transport and other sectors from the scheme means it will only cover about half of total greenhouse gas emissions.
Clearing house will boost energy hub/maritime centre status Singapore Exchange confirms plans to develop clearing house for freight and energy derivatives in a move welcomed by the republics' authorities and trade development body.
ARA stays firm on tight prompt supply
Limited impact expected from revised ISO 8217 standard The new standard will offer buyers better protection against unwanted substances in bunker fuels, but DNVPS does not expect a major rise in recorded incidents of off-spec fuels.
Energy think tank says OPEC has lost its credibility London-based energy think tank has said in reports that OPEC has lost its credibility as a guarantor of oil price stability following record high oil prices.
Hong Kong's bunker market muted after crude rally Hong Kong's trading hours yesterday saw light demand for bunker fuels and most fixed deals were below indicative prices.
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