TUI to buy CP Ships for US$2b to boost capacity IN yet another case of consolidation in the shipping liner business, TUI, the owners of the Hapag-Lloyd shipping line, is taking over UK-based container line CP Ships Ltd for US$2 billion.
Pacific Basin to sell and lease back 5 ships PACIFIC Basin Shipping Ltd, a Hong Kong-based dry bulk shipper, said it will sell five of its ships for a combined US$100 million and then lease them back, using the proceeds from the sale to repay loans.
Shanghai Port Container's stock sale plan gets nod SHANGHAI Port Container Co, the publicly traded unit of China's biggest port, said shareholders have approved a plan to dispose of the government's holdings in the company.
Hapag Lloyd swoops for CP Ships in $2bn deal GERMAN container line Hapag-Lloyd has pulled off a stunning coup with an agreed $2bn bid for CP Ships, the UK-headquartered company that has been at the centre of takeover speculation for several months.
Hapag-Lloyd ready to pay $2.6bn for CP Ships HAPAG-Lloyd is preparing a bid for CP Ships which could result in an auction for the company and a price of more than '2bn ($2.6bn).
Fresh takeover interest strengthens share price CP SHIPS' share price climbed to the highest level for more than a year on Friday as news emerged of yet another potential bidder.
Disgruntled ASF rejects Malacca Strait risk listing THE Ship Insurance and Liability Committee of the Asian Shipowners Forum is deeply disappointed at results of the briefing meeting with the Joint War Committee on August 16 in London.
Exmar tanker clearance could mark LPG tanker sector exit EXMAR is in discussions concerning the future of three remaining liquid petroleum gas tankers, following the sale of nine ships last week, writes Helen Hill.
PBS sell-off nets solid gain HONG Kong-listed bulk carrier Pacific Basin Shipping said on Friday that it expected to book an estimated net gain of HK$3.36m (US$432,000) from selling five ships this year, writes Mike Grinter.
Caribbean cruising passport reprieve THE US has reconsidered a plan to require Americans returning from the Caribbean to have passports by 31 December
Cabotage rules eased for congestion INDIA'S shipping ministry has extended the relaxation of cabotage law by six months to facilitate coastal movement of containers from Jawaharlal Nehru port
South African storms kills one ONE seaman has been killed and three injured in two separate incidents today in a storm off the South African coast
TUI in takeover talks with CP Ships Acquisition by parent of Hapag-Lloyd, Germany's largest liner, would create the world's fourth-largest container carrier.
Freight forwarder slams inefficient CP Ships service CP Ships has confirmed that delays caused by staff shortages are the cause of delays in Montreal, following a detailed complaint from one freight forwarder.
FESCO and Severstaltrans close container-rail joint venture The container-rail subsidiary set up last year by Far Eastern Shipping Company (FESCO) and SeverstalTrans is being disbanded, with platforms returned to owners and container platform orders cancelled.
Dutch dockers threaten short, sharp 'stop', to preserve ILO 137
MISC to grow through new alliance partnerships
Delhi maintains cabotage law suspension
CP Ships mating-dance goes on, as another potential partner admits flirting
Prosecutor investigates Swedish ferry operator A Swedish prosecutor specializing in corruption cases has decided to launch a preliminary investigation into charges against Destination Gotland ' the ...
TFDS/OVDS merger on the agenda Talks to merge the Coastal Express operators divisions of Troms Fylkes Dampskibsselskap (TFDS) and Ofoten og Vesteraalens Dampskibsselskap (OVDS) are ...
DFDS back on wheels again The DFDS group is now back on wheels again after the purchase of a part of the Belgian company Halléns ...
Fuel oil arbitrage prospects bearish despite VLCC fixture Despite the fixture of the first Asia-bound VLCC from Europe in two months, traders have said that fuel oil arbitrage prospects remain bearish.
Crude rebounds on failed rocket attack, Ecuador disruption Markets rebound after news of failed rocket attacks in the Middle East and massive supply disruptions in Ecuador.
Mexican official rues lost bunker business A Mexican Department of Transport official has said the country is missing out on potential bunker business, echoing the voices of Mexican bunker suppliers.
Hong Kong: Bunker prices rebound on crude gains After yesterday's drop, Hong Kong bunker prices rebounded today following the rise in crude oil prices.
Korea Ocean Energy to relocate head office
Showa Shell bags profits in first half this year Japanese refiner Showa Shell posted an increase in net income in the first half of 2005 with healthy bunker sales volumes also noted.
Oil prices steady on gains in US crude reserves Oil prices have remained steady as an increase in US crude reserves have helped to ease concerns over tight supplies.
Singapore: GAC reveals ambitions for continued expansion GAC Bunker Fuels Singapore sets sights on expanding its market share in the region and boost its role within the GAC Group.
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