Tanker rates may have peaked, says World-Wide chief OIL tanker rates woould not return to November's record levels as more ships are launched, according to Helmut Sohmen, who controls the world's largest closely held shipping company, World-Wide Shipping Group.
Daewoo yard posts Q1 loss on higher steel prices DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, said it had a loss in the first quarter because of rising steel prices.
Box maker CIMC's Q1 profit surges five-fold CHINA's China International Marine Containers Co Ltd , the world's largest maker of shipping containers, posted a near five-fold jump in quarterly earnings as orders surged alongside booming international trade.
Strait Talk
Tanker sector headed for capacity crunch? THE second half of this decade is going to be a very interesting time for the tanker business, especially the VLCC sector, which carries most of the world's crude oil to where it is needed.
Tanker rates may have peaked, says World-Wide chief OIL tanker rates woould not return to November's record levels as more ships are launched, according to Helmut Sohmen, who controls the world's largest closely held shipping company, World-Wide Shipping Group.
Daewoo yard posts Q1 loss on higher steel prices DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, said it had a loss in the first quarter because of rising steel prices.
Box maker CIMC's Q1 profit surges five-fold CHINA's China International Marine Containers Co Ltd , the world's largest maker of shipping containers, posted a near five-fold jump in quarterly earnings as orders surged alongside booming international trade.
Strait Talk
Tanker sector headed for capacity crunch? THE second half of this decade is going to be a very interesting time for the tanker business, especially the VLCC sector, which carries most of the world's crude oil to where it is needed.
16 more accreditations in Singapore, total reaches 59 More than two thirds of Singapore's bunker suppliers have achieved accreditation status with just over one month until the deadline to meet the criteria as set out by the MPA.
SPC records 73% profit increase for Q1, 2005 Singapore Petroleum Company (SPC) reports solid growth in first quarter results.
Rotterdam stable ahead of Midday
Royal Caribbean chief stretches earnings Royal Caribbean chairman bags hefty bonus despite claims about the negative impact of high bunker prices.
ARA: Source of new styrene incidents still unknown A vessel debunkered a huge parcel of fuel oil, and an oil major is still investigating source of contaminated fuels supplied to two vessels in Antwerp at the end of March.
Valero Energy acquires Premcor in $8 billion deal Valero Energy has sealed an $8 billion deal to take over rival Premcor, boosting its total throughput capacity to more than three million barrels per day.
Single-hulled tanker causes spill off Colombia A single-hulled tanker hit an underwater object that resulted in a spill near Cartagena, Colombia.
Port of LA expands electric program with 'new generation' AMP New wharf electric plug-in, at berths 212-216, will not use a barge conduit to connect ships to shore-side electrical power.
VLCC rates have peaked warns World-Wide's Sohmen RATES for very large crude carriers have peaked and are unlikely to match the euphoric highs seen last year, says Helmut Sohmen, owner of World-Wide Shipping and Bergesen.
BP increases spending as rig and vessel lease costs soar to record levels SOARING rig and vessel lease costs are forcing BP to raise capital and operating expenditure this year, but high oil prices are keeping its profits strong.
Pay bonanza for liner company chiefs revealed SALARIES and bonuses of liner shipping bosses have soared over the past couple of years, with a number now joining the first division if not yet in the premier league, writes Janet Porter.
China okays Shenzhen box port expansion CHINA has announced further container terminal expansion by giving the go-ahead for a 2.5m teu facility at Shenzhen, the world's fourth largest box port city, writes Sam Chambers in Hong Kong.
Top growth plans pay off TOP Tankers is reaping the benefits of its rapid post-IPO fleet expansion, reporting its third straight profitable quarter yesterday
Indonesia names 25 hub ports INDONESIA has drawn up a select list of 25 ports that will be designated as 'ocean-going' or international harbours.... Full story
Eurotunnel 'disappoints' yet again EUROTUNNEL, operator of the cargo and passenger rail link under the English Channel, has announced 'disappointing' 2004 results with a net loss of '570M ($991M).... Full story
High charter forces SCI out of IndAmEx SHIPPING Corp of India has left the IndAmEx Consortium due to high vessel charter hire costs.... Full story
Shanghai owner's group set up THE Shanghai Shipowners' Association was set up yesterday. Le Kelin, the current president of China Shipping Container Line, is chairman.... Full story
CMA CGM ties its fortunes to China FRENCH liner operator CMA CGM intends to broaden its participation in container terminals to include investment in China.... Full story
China 'strongly opposed' to EC textile restrictions China's commerce minister said today that the country is 'strongly opposed' to restrictions imposed by other countries on its textile exports, noting the sharp surge in exports was not China's responsibility.
Asian giants China and India comprise nearly half CMA CGM activities China and India accounted for 47% of CMA CGM's activities in 2004, prompting the group to deploy 12 post-panamax vessels into Asian trades and focus on developing its Indian agency-network.
Canada expands container screening
POLB follows California port authorities' proposal of 5% hike
Korean carriers urged to stop lifting rates
Doehle Group buys out Swan Container Line
Cosco renews Manila calls with HK shuttle
Expanding demand sees Textainer place new box order
Big fish Samskip acquires 30% of Kloosterboer coldstore activities
Stronger USD boosts Concordia capital The strengthening of the USD/SEK exchange rate has boosted Concordia Maritime capital by SEK 100 million (EUR 10.9 million ...
Indian Shipbreakers warn against Greenpeace campaign A united group of Indian Shipbreakers around the beach of Alang in the Gujarat province headed by Pravin Nagasheth, president ...
Five against Commission to represent EU at the IMO Denmark, Greece, Germany, Malta and Cyprus are against the European Commission's plan to represent the entire European Union at the ...
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