Asian shipowners mull overhaul of association AN overhaul of the Asian Shipowners Forum may be necessary if Asian owners want a greater say in international maritime affairs, the head of the Australian Shipowners Association told the Forum's members recently.
Cosco expects weaker freight rates CHINA Cosco Holdings Co, a shipping company marketing a US$1.66 billion stock sale, said freight rates could fall 'significantly' because shipping capacity is rising, contradicting comments made earlier by its chairman Wei Jiafu.
Gulf tanker rates rise as supply of idle ships shrinks THE cost of shipping crude oil from the Persian Gulf rose the most since May 3 as the pool of so-called very large crude carriers ready for hire in the Persian Gulf shrank.
Admiralty Casebook
No recovery of legal costs that are part of salvage lien AN APPEALS court in the US has ruled that a salvage company cannot recover its legal costs as part of a salvage lien that it sought to recover through an action in rem against the vessel that it salvaged.
Asian shipowners mull overhaul of association AN overhaul of the Asian Shipowners Forum may be necessary if Asian owners want a greater say in international maritime affairs, the head of the Australian Shipowners Association told the Forum's members recently.
Cosco expects weaker freight rates CHINA Cosco Holdings Co, a shipping company marketing a US$1.66 billion stock sale, said freight rates could fall 'significantly' because shipping capacity is rising, contradicting comments made earlier by its chairman Wei Jiafu.
Gulf tanker rates rise as supply of idle ships shrinks THE cost of shipping crude oil from the Persian Gulf rose the most since May 3 as the pool of so-called very large crude carriers ready for hire in the Persian Gulf shrank.
Admiralty Casebook
No recovery of legal costs that are part of salvage lien AN APPEALS court in the US has ruled that a salvage company cannot recover its legal costs as part of a salvage lien that it sought to recover through an action in rem against the vessel that it salvaged.
Brussels bid for seat at IMO collapses in political disarray A FORMAL proposal requesting European Union membership of the International Maritime Organization has been dropped after lobbying by member states, it emerged yesterday.
TBS share offer is third in a row to suffer price cut SHIPPING does not seem to be the flavour of the month in Wall Street any more as TBS International became the third aspirant in a row forced to cut the price of its initial public offering.
Eagle Bulk's Nasdaq debut will not wipe out debt EAGLE Bulk Shipping has debuted on the Nasdaq market after pricing its initial public offering at $14 a share, the lower end of the $14-$15 range, leaving the company a little more in debt than was expected earlier, writes Rajesh Joshi in New York.
Wei out of line: Cosco disowns chairman's views DIRECTORS of China Cosco Holdings, which is due to list in Hong Kong on July 4, have been forced to distance themselves from upbeat pronouncements regarding the company's future expressed by chairman Wei Jiafu.
China Cosco plays down forecast CHINA Cosco Holdings, which is soon to be listed, has distanced itself from upbeat comments on the container shipping market made this week by Cosco Group chairman Capt Wei Jiafu
China-US battle for Unocal A TRANS-PACIFIC bidding war has broken out for leading US oil independent Unocal after China National Offshore Oil Corp announced a surprise $18.5Bn offer yesterday
IPOs bow to pricing pressure WANING market conditions have forced a second initial public offering to reduce pricing, while a third has just reduced its targets significantly
India grants Sri Lankan concessions SHIPPING between India and Sri Lanka is to get a boost with India granting further concessions to the island nation under the existing bilateral free trade agreement
Fonterra fine on APM/RPONL merger THE Maersk/PONL merger is not likely to affect the logistics arrangements of dairy major Fronterra of New Zealand, despite reports to the contrary, the company says
OSC, MOL sign tanker JVs THE Oman Shipping Co (OSC) and MOL of Japan have signed long-term joint venture agreements to operate two newbuild tankers
Shenzhen to double boxes by 2010 The port complex, one of the largest trading gateways for the U.S., expects to almost double its overall container capacity to 25 million TEUs.
Cosco Holdings IPO fails to arouse investors' fervour Beijing-based Cosco Holdings, which will close its retail subscription tomorrow, has received a lukewarm reception from investors in Hong Kong.
China: bilateral talks with US will solve textile rows
Russia invited to join Gulf land-bridge project
APL and Great White Fleet take a second bite at Port Everglades
RCL upgrades Korea/Singapore service
P&O Nedlloyd to launch Korea/Japan feeder link
Blow struck for Fremantle rail link
International traffic boosts Kombiverkehr's volumes
Half a million tons to Danish flag D/S "Norden" of Copenhagen has hoisted the Danish flag on the largest dry cargo ship in the Danish register ...
EC drops radical class measures The European Commission (EC) will drop plans to separate the private and public sector functions of the classification societies and ...
"Rocknes" insurers continue legal proceedings P&I Club Gard and Norwegian Hull Club continue their legal proceedings against the Norwegian government, represented by Norwegian Coastal ...
Oil pierces $60 barrier, settles just under Crude settles off highs after rallying on continued fears of global over-demand; markets overlook smaller than expected US inventory draws.
MARPOL sampling location clarified in Panama A more flexible approach adopted but bunker suppliers guided by shipowner requirements.
LA dockside times reduced in decongestion drive Port authorities easing shore-based congestion, but bunker suppliers say business will be unaffected by quicker turnarounds.
Energy shortage could see Huangpu fuel oil imports double Fuel oil imports into southern China's Huangpu could double in June as a massive energy shortage is set to hit the region between July and September.
Triton announces expansion into new markets Turkish branch of Triton has established direct links with marine fuel suppliers in Libya, North Africa, and in Baku in the Caspian Sea.
Trinidad: Coast guard refutes oil spill claims An oil spill resulting from a chemical tanker explosion in Trinidad has left officials baffled as to the source of the spill.
Scotland: Company defends unpopular STS plans The company behind ambitious plans for a ship-to-ship transfer operation on the Scottish coast has hit out against opponents of the scheme, after two local councils recently rejected the proposal on environmental grounds.
Outlook tight and firm in Rotterdam
Indian Oil Corp targets Singapore Petroleum Company Officials at Indian Oil Corp. have said that the company is eyeing a 26% stake in Singapore Petroleum Company, with a possibility of assuming management control in the future.
Fuel oil on detained tankers 'clearly legal' State oil company Pertamina has confirmed that fuel carried on three tankers detained by the Indonesian Navy last week was in fact legal.
Singapore fuel stocks fall, bunker demand stays soft Several Singapore traders predict below-average bunker sales volumes this month as high prices is hurting spot sales.
Busan: Gains in container traffic, dips in bunkering South Korea's Busan port had a slight increase in container traffic last month, but traders said bunker sales volumes are expected to fall this month due to uncompetitive prices.
Police foil attempt to sell tanker's diesel Malaysian police have arrested a man accused of plotting a hijack on an oil tanker and planning to sell off its marine diesel
Singapore: Enough suppliers to meet bunker demand The MPA says the number of bunker suppliers is enough to meet bunkering demand in Singapore and there is no need for more new players for the time being.
US bunker market watchful despite crude slip North American suppliers factoring 'floating rates' to allow for crude volatility in July deliveries.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
