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NYK earmarks 1.38 trillion yen investment to expand fleet
JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east
CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent
THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers

Daily Freight

Freight rates to rise in Q2: analysts
A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.

Port Shots

Port Shots
YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.

web site

Shipping News

NYK earmarks 1.38 trillion yen investment to expand fleet
JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east
CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent
THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers

Daily Freight

Freight rates to rise in Q2: analysts
A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.

Port Shots

Port Shots
YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.

web site

Shipping News

NYK earmarks 1.38 trillion yen investment to expand fleet
JAPAN's largest shipping company, Nippon Yusen Kabushiki Kaisha said it will spend 1.38 trillion yen over the next six years on over 200 vessels, as it expands to meet the ongoing demand for maritime transport.
China mulls terminal in booming east
CHINA is considering building another container terminal along its wealthy east coast partly with foreign investment, which could help alleviate its nationwide transport bottlenecks that have become an economic drag.
Shipping-derivatives market set to grow by 53%: Celent
THE shipping-derivatives market will grow 53 per cent in the next two years as hedge funds, banks and insurers start trading the contracts, Boston-based consulting company Celent Communications said.
Carnival Q1 profit up 70% on higher prices, more passengers

Daily Freight

Freight rates to rise in Q2: analysts
A robust Chinese ecomomy, port congestion in key mineral exporting regions and the start of the South American grain export season should stoke global freight prices in the second quarter, analysts said on Tuesday.

Port Shots

Port Shots
YANG Ming Marine Transport Corp, Taiwan's second-biggest shipping line by market value, will order five container ships and one bulk carrier as demand for cargo space to the US and Europe from Asia increases.

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Liaoning to invest US$8.69 billion on ports NYK seeks to better utilise Amsterdam terminal Shanghai Container eyes two China port investments Tianjin Port to complete channel expansion works by June Zim to open Zhongshan office Port Manatee to build mega warehouse PDS boosts management team BT Group CEO elected to UPS board Dragonair to boost mainland offerings China Eastern to fly Chongqing-Shanghai-Paris route Lufthansa Cargo to hike fuel surcharge in April China Southern takes delivery of Airbus A330 Singapore, Air NZ expand codeshare agreement

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IPBCC withdraws congestion surcharge at Chennai Port GE Shipping to acquire 3 dry bulk carriers soon S-E Asia, S. Asia/Australia Trade Agreement to raise rates US decision on shrimp dumping duty tomorrow Marine products exports register comfortable increase during April-Dec. Kerala govt's advisor (ports) sees Vizhinjam to be ideal & viable container transhipment hub MbPT to hold interactive meet with Port users in Delhi today TCT records 25 pc growth in box traffic Textainer adjudges Jay Container's Delhi depot the best for 2004 Rlys may offer pvt. cos 3 freight corridors for development PM forecasts 7-8 pc economic growth in 2005-06 Stringent rules push up transaction costs for exporters: Minister All future road projects to be on BOT basis-PM Daily load-shedding in Maharashtra hinted at

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MARCH 23, 2005
Rotterdam fuel oil eases from 25-year high Softer crude futures overnight and in today's trade saw benchmark European fuel oil prices slip today after hitting a 25-year high on Tuesday. Russian oil product export duty to hit new high The Russian government has decided to raise customs and export duty on oil products, including fuel oil and gas oil widely exported to European bunker markets. US crude stocks rise as products dwindle The latest US oil inventory data show solid gains for crude, while stocks of key products fell sharply last week. Double-digit gains for Saudi posted prices Reports: Human factor cannot be ignored in spills Despite increasingly stringent regulations regarding hull construction and the like, reports have reiterated that the human factor can lead to spills whatever the level of protection. Crude prices continue decline after yesterday's plunge Crude oil traded on the New York Mercantile Exchange continued to decline in after hours trading today after yesterday saw the biggest decline in six weeks.

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MARCH 23, 2005
Tele Atlas and TomTom launch new offers New unforgeable car registration papers in Germany Siemens to equip Swiss post offices Navis Hamburg wins new North African partner Lufthansa takeover of Swiss sealed MOL: new system purifies exhaust from berthed car carriers New executives at Höegh Autoliners (ex-HUAL)

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MARCH 23, 2005
Strong 2004 seals TT's recovery High freight rates exacerbate crew shortages MOL's new emission cleaning system MacAndrews serving Comoros via Dar es Salaam

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MARCH 23, 2005
Celebrity cancels Hawaii cruise Jens Lassen joins Stolt-Nielsen Transportation Conrad to delist from Nasdaq

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MARCH 23, 2005
Gunderson buying two railcar repair centers National port association names Mineta person of the year CSXT sees expansion in industrial development NASSCO delivers second Alaska-class tanker to BP Oil Top Tankers puts to work double-hull Handymax tanker

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Cautious Evergreen to drip-feed yards with post-panamax orders NEW one-at-a-time 'piecemeal' orders for 7,000 teu containerships may be placed with Mitsubishi Heavy Industries by Taiwanese liner shipping and transport group Evergreen from 2007 if economic conditions are favourable, says Evergreen chairman Chang Yung-fa. Japan calls for anti-piracy network JAPANESE Prime Minister Junichiro Koizumi has called for Asian countries to set up a co-operative framework to combat piracy. Grimaldi cements Fincantieri ties with $470m four-plus-two ferry contract Grimaldi Group Naples has strengthened its long ties with Fincantieri by ordering another four ships from the state-owned Italian shipbuilder and putting options on a further two. Cruise cancelled as pod woes come back to haunt Celebrity PROBLEMS with podded propulsion aboard the cruiseship Infinity have returned for a sixth time to haunt Celebrity Cruises, writes Hugh O'Mahony.

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MARCH 23, 2005
Huge new Russian port plan suspended A BILLION-dollar plan to build a new Russian port between the Azov and Black Seas has been halted by bickering between the regional government and chief project contractor Spill after barge hits bulker A barge struck the Singapore-registered bulk carrier Maritime Wisdom at Panaji Port in Goa, India, today, causing an oil spill Mobile collision being investigated COAST Guard investigators are today probing Monday's collision between a Singapore-flagged bulker and a barge in the Mobile, Alabama ship channel Loss of hazardous objects bill FIVE US congressmen have introduced a bill to compel mariners to report hazardous objects lost overboard USCG tows drifting factory vessel Asian shippers call for dialogue Greeks say manning is cost problem SeaFrance seamen clash with police Queensland fast-tracks coal plans Grimaldi fined for pollution ITF action paralyses Finnlines Commodore decries criminalisation Owners must invest in lobbying Lua returns to head SembCorp Marine

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MARCH 23, 2005
NY/NJ terminals trim free storage time Demurrage fees also rising as operators fight growing congestion in Port Newark (left) amid continuing surge of box traffic. Seaway cuts some charges New C-TPAT rules out Deal for Alabama box port NYK eyes $1B in profits Hapag-Lloyd profit up JoC parent acquires BACK Aviation Profit for Lufthansa Cargo Bidders emerge at Mumbai

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MARCH 23, 2005
Cosco Pacific shifts focus to Nansha with Shekou sale Cosco Pacific said today that it had agreed to sell its stake in Shekou Container Terminal (SCT) to China Merchants Holdings (International) (CMHI) to concentrate on developing Nansha Port. FEFC lines look to recover soaring costs Far Eastern Freight Conference (FEFC) lines confirmed today that they would be looking for a US$250/TEU increase on April 1 as announced in the conference business plan last year. Charter standoff as owners await developments China Merchants focuses on ports as profit driver Kremlin to maintain 'Closely watched trains' theme Rising charter costs take its toll on Sinotrans Evergreen celebrates launch of its first super post panamax Asia/Australia rates up again Gwangyang February container throughput drops HMM develops internet vessel management system

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MARCH 23, 2005
Blast rocks BP Amoco refinery Four reported killed in Texas City explosion as Houston Ship Channel closed, gas futures spike. Sonangol confirms Stena hookup Angolan state oil subsidiary says headquarters at Stena Bulk in Houston will afford training benefits. Stolt-Nielsen poaches Lassen Nine-month search for new head of shipowning ends at door of Royal Caribbean. Infinity goes into drydock. Again. Celebrity Cruises cancels sixth cruise in four years in order to fix vessel's propulsion problems. Canada holds infamous five February port state checks ended in detention for Latvian Shipping and Naviera Del Pacifico ships, among others. Reversing direction Stamford's OMI Corp loses independent director after only weeks on the job. Nassco delivers San Diego shipyard hands BP second in series of $210m suezmaxes for Alaskan trade. Estoril lands panamax duo Greek owner's quest for tonnage ends in acquisition of two products carriers for $35m. Grimaldi Naples notches ro-pax orders Guido Grimaldi's company signs for up to six ferries at Italian shipbuilder Fincantieri. Eisa linked to aframaxes Brazilian yard reportedly signs up with domestic investors to build ships for charter to Transpetro. China boost for TT Club Surging world trade leads to record result for container shipping mutual. Godunovs states his case Leader of rival board of directors continues civil war for control of Latvian Shipping. GNV piles on profits Italian ferry operator boosted by extraordinary gains and more passengers in 2004. Wanted: shipyard workers Aker Finnyards is seeking 200 new staff to help build two cruiseships in Turku. NYK thinking big Japanese giant expects profits to almost treble over next four years, while it plans to add 140 ships to fleet by 2011. Baltic Press in tow Tug begins towing ro-ro to port after ship loses power following explosion in engine crankcase. Ming Wah sale lifts CMHI Profits jump 40% at Hong Kong listed ports group on back of trade growth and tanker unit sale. Greenpeace targets Skyman Activities attempt to delay Greek bulker berthing at Portuguese port in protest over timber trade. Conrad Industries to de-list Freed of the burdens of being public US shipbuilder feels it will perform better in private hands

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NYK to invest $13.8 billion in ships, become "logistics integrator" Hapag-Lloyd's shipping profits rise 7 percent Hatsu's First 7,024-TEU ship launched TSA raises Panama Canal surcharge Lufthansa to buy Swiss DHL USA loses Deutsche Post $654 million Postal reform back on congressional agenda Continental raises fuel surcharge Lavin to head IATA's Washington presence BNSF launches interline pricing tool Samuel Shapiro & Co. adds compliance manager Egypt opens borders to U.S. beef imports Commerce launches import textile monitoring system CBP officials brief Mexican trade on WCO standards CBP official detailed to Senate Homeland Security Committee DHS general counsel to leave COSCO Pacific moves to Nansha

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MARCH 23, 2005
Another bulk carrier grounded in Danish waters Another bulk carrier has taken ground while passing through Danish waters. In the early hours of Tuesday this week a ... EU rejects massive critique on criminalisation It is not a question of criminalising all seafarers when an oil spill occurs', says the EU Commission. The massive ... Partnership charters another three drilling rigs A partnership of Statoil, Hydro, Shell and ENI has chartered another three drilling rigs for 5 years and 1 year ...