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Dhaka court bans 'toxic' ship from Bangladesh waters
A Bahamian-registered ship that environmentalists say is 'toxic' and was due to be dismantled in Bangladesh has been banned from entering its territorial waters by the Dhaka High Court, lawyers said on Wednesday.
Hanjin Shipping's Q1 profit falls on fuel costs
HANJIN Shipping Co, South Korea's second-biggest shipping company by market value, said that first-quarter profit fell 58 per cent on higher fuel costs and a stronger Korean won which crimped gains from expanded global trade.

Admiralty Casebook

No insurance payout due to ship's false warranty
AN ENGLISH court last month declared that an Indonesian insurance company does not need to pay under a marine insurance policy, primarily because the ship's owner had warranted that the vessel was classed with the Korean Registry of Shipping when it was actually classed in Panama.

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Shipping News

Dhaka court bans 'toxic' ship from Bangladesh waters
A Bahamian-registered ship that environmentalists say is 'toxic' and was due to be dismantled in Bangladesh has been banned from entering its territorial waters by the Dhaka High Court, lawyers said on Wednesday.
Hanjin Shipping's Q1 profit falls on fuel costs
HANJIN Shipping Co, South Korea's second-biggest shipping company by market value, said that first-quarter profit fell 58 per cent on higher fuel costs and a stronger Korean won which crimped gains from expanded global trade.

Admiralty Casebook

No insurance payout due to ship's false warranty
AN ENGLISH court last month declared that an Indonesian insurance company does not need to pay under a marine insurance policy, primarily because the ship's owner had warranted that the vessel was classed with the Korean Registry of Shipping when it was actually classed in Panama.

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Asean ports need to gear up for China export increases: academic Mainland to build new port areas China further opens railway construction market Cosco Logistics, PICC sign logistics insurance contract

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Acquisitions now India Inc's rage Imported wheat to be delivered to FCI by month-end 85 shrimp exporters file details for US dumping duty review Oilmeal exports go mainly to East Asia Second wheat consignment arrives at Tuticorin Port Containerised trade enters new era in India Patel Roadways mulls Chennai-Lanka air cargo service Apollo International forays into logistics business Reliance's Rs 30,000-cr. SEZ project in Haryana cleared Foreign Trade Policy Analysis: Current Trends - By M. Sreedharan Interactive meeting with Thai team at IMC today

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MAY 4, 2006
Vranckx named Swiss WorldCargo VP Satisfactory year for Hamburg Süd Lan increases revenues in Q1 Cemat to launch Verona'Ljubljana service Norbert Dentressangle increases Q1 sales EU Parliament pushing "eCall" New Etihad Crystal Cargo website

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MAY 4, 2006
Capesize bulker sinks, 27 missing North of England Club grows QE 2 in Canadian pollution probe CP Valour wreck removal starts

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MAY 4, 2006
Orderer of mega drillship lists Fincantieri to take stake in Lloyd Werft HOS says tanker-to-MPSV conversion will cost more NY Water Taxi orders another cat

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MAY 4, 2006
Seattle maritime officials call for practical security measures Washington governor departing on trade trip to Australia/New Zealand New playground opening on Port Orchard waterfront Coast Guard security expert retiring on Friday Familiar maritime figure Ken Edgar dies in Seattle

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Fincantieri sinks teeth into Lloyd Werft Fincantieri yesterday confirmed its acquisition of a 21.05% stake in German shipyard Lloyd Werft, along with an option to take a controlling stake by the end of 2008 through share purchases from other shareholders. Search continues for crew of Alexandros T RESCUE teams continued to search yesterday for 26 missing crew members from the capesize Alexandros T which sank off the South African coast on Wednesday evening in heavy seas and 45 knot winds. Moller steps down from Odense yard after 40 years LEGENDARY shipowner Maersk Mc-Kinney Moller has stepped down as chairman of Odense Steel Shipyard after more than 40 years in charge of the board, writes Janet Porter. UK rejects Nordic plan for new North Sea rules BRITAIN is shaping up for a showdown with some North Sea countries on rules covering the shipment of radioactive materials.

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MAY 4, 2006
Teekay drops on spot capacity TEEKAY Shipping's profits fell sharply as the result of decreased capacity in its spot tanker segment Richards Butler builds shipping team LONDON law firm Richards Butler has recruited a shipping team consisting of a partner, a master mariner and several legal assistants from rival Stephenson Harwood Fincantieri moves on Lloyd Werft FINCANTIERI has made its long-awaited move to take a controlling interest in Germany's shipbuilding/conversion specialist Lloyd Werft SNCM employees back privatisation MORE than three-quarters of SNCM's 2,400 employees have voted to approve the relaunch of the ailing operator in a move that paves the way for privatisation Greeks call for ferry stoppage Cargo first for Anglo-Eastern Damaged reefer awaits its fate Hazchem boxship crew all safe Cosco Corp posts strong quarter US flu plan for cruise trade Shipping crucial to US flu response OSG chief engineer indicted Rigs, repairs boost SembCorp Marine Vietnam yard quick off the mark

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MAY 4, 2006
House passes SAFE Ports bill Vote turns back last attempt by Democrats to include language that would require all U.S.-bound containers to be scanned at foreign ports prior to loading on ships. Zim adds U.S.-India service U.S. could shut Canada border over bird flu Hanjin profits plummet FedEx plans Indy expansion Canada derails grain car deal Customs Update: Record what? Long Beach signs 'green' lease with Matson-SSA On-dock rail proposed for Port of Miami United Airlines to merge airport, cargo operations

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MAY 4, 2006
Interest rate changes spell spring, though with weather risks Interest-rate holds today, by the Bank of England and European Central Bank, indicate at least short-term positive indicators for global container trade, but warnings about oil-prices underlay the dynamic talk. China shippers: Liners cannot charge THC to shippers or consignees Chinese shippers are keeping up the public pressure after publication of the Chinese government's decision on THCs two weeks ago, reiterating their interpretation that carriers cannot charge THCs separately. Hupac takes stock of a year with international integrated traction COSCON sees growth in Q1 volumes but fall in turnover Indonesia secures bank loan to improve national fleets Singapore shippers oppose exemptions for carriers L&T to build ships for Netherlands-based boxship manager Dedicated freight line to ease southern Sydney traffic Alianca adds a new Brazil/Mercosur coast service sling Hanjin wins order for four vessels

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MAY 4, 2006
Metrostar flashback US-listed Quintana Maritime is said to be paying up to $750m for Theodore Angelopoulos's entire bulker fleet. Law team quits Stephenson Harwood London law firm Stephenson Harwood loses a partner and four lawyers to local rival Richards Butler. Lobbyists 'save RRF' Legislators have moved to stop deep cuts in the commercially- operated US Ready Reserve Force fleet. Job done, says Baltic Exchange claims share tender and vote-cap have beaten off the twin-threat of speculators and dominators. Costs clobber Odfjell Bunker prices rise, chemical tanker rates fall for Norwegian owner in first quarter. Braemar sees scope for progress Shipbroker Braemar Seascope looks forward to a repeat positive performance in 2006 as oil and ship prices remain high. Gulf Navigation lines up IPO Dubai-based tanker owner wants to float shares as it expands fleet. Cape sinks off SA Twenty seven crew missing as Overseas Marine's Alexandros T breaks up off the Eastern Cape coast. Baltic misses target Just 10% of investors tender their shares to the Exchange under plan aimed at curbing dominant shareholders. Olsen companies back in profit Norwegian tanker and cruiseship owner's holding companies Bonheur and Ganger Rolf turn round first quarter losses. Braemar wants more LNG action Braemar Seascope looks forward to extending its exposure to the LNG market through technical consultancy subsidiary Wavespec. Braemar tanks up High freight rates, vessel values and transaction volumes help UK Shipbroker Braemar Seascope to another record annual profit. BLT up in first quarter Indonesian tanker owner continues where it left off in 2005. Hanjin hit again Pace of profit decline increases as costs mount in first quarter for Korean boxship line. Fincantieri seals Lloyd Werft deal Italian yard buys stake in German shipbuilder to broaden ship refitting scope - and could take control by end of 2008. Genco profits from bigger fleet Peter Georgiopoulos' US listed bulker operation starts 2006 with 45% plus jump in net profits. Wartsila numbers jump 70% Group to spend $60m expanding facilities in Finland and Italy after cruiseship and LNG orders surge again. Asbestos payouts to be cut Law lords rule in favour of insurers' appeal that compensation to victims be reduced pro rata. Zim goes it alone Israeli container line buys out Denholm's 50% stake in UK agency Bahr Behrend.

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MAY 4, 2006
China concludes THC investigation Softer rates cut Hanjin's profits by 58% Zim leaves U.S. East Coast/Brazil joint service Horizon Offshore investigating potential illegal customs payment Leak on Horizon vessel forces return to Puerto Rico port Wan Hai to add Iran calls to China/Middle East/India service Atlas Air selects GeoLogistics' Flynn as chief Cargolux to raise fuel surcharge again Korean Air confirms two more 747 freighter conversions United's cargo volumes up 11% in April Great Lakes carriers, shippers press for port dredging RailAmerica's net income soars 142% IAS opens Nice office to consolidate European team Panalpina's 1st quarter earnings rise 120% Maritime industry asks House to reject container scan bill On-dock rail for Miami? Southern California ports moving toward record vessel counts Mc-Kinney Moller retires from Odense Steel Shipyard End of PuriNOx is near in California

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MAY 4, 2006
Prosafe buys Consafe J Christer Ericsson sells his 48.35 per cent share in G'teborg-based Consafe Offshore to Norwegian Prosafe, which will also ... Doubled loss for Odense shipyard Odense Staalskibsværft, the A.P. Møller-Mærsk owned shipyard in Munkebo, logged a deficit of DKK 775 million (USD 131.3 million ... No piracy in Malacca There were no reports on piracy attacks in the Malacca Strait or in Indian waters during the first quarter of ...

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MAY 4, 2006
Vancouver supplier announces low-sulphur fuel Cruise line taking 1.5% fuel for summer season in contract deal. Oil below $70, drags bunkers down Crude taking a dive today and US bunker prices following in main ports. Petrotrin plays down bunker barge collision Company sources tell Bunkerworld reports of the incident have been exaggerated. WW overcomes bunker costs to perform strongly in Q1 Environmental front-runner enjoys strong Q1 results and good 2006 outlook despite higher bunker costs and low-sulphur policy. FAMM confirms Gibraltar market exit, negotiations underway Company confirming cessation of bunker marketing activities in past week and in discussions over future of facilities. Soft crude prompts Rotterdam freefall O.W. Bunker welcomes Hamburg's first double hull barge The new barge has already bunkered the world's largest cruise ship, the new Freedom of the Seas. Singapore: Distillate stocks at six-year low, residual fuels up Singapore supplier loses bunker licence MPA saying it will not renew company's bunker licence, while company claiming they are still corresponding on the matter. Tight prompt deliveries underpin Singapore market Bunker prices show signs of softening on paper market plunge.