Orient Overseas may raise about US$1b selling ports ORIENT Overseas Ltd, Hong Kong's No 3 container shipping line, may raise about US$1 billion selling ports in North America, taking advantage of rising prices, three sources familiar with the plan said.
Posco says it's interested in buying Daewoo Shipbuilding POSCO, the world's fourth-biggest steelmaker, said it's interested in Daewoo Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder.
Japanese shipping lines Mitsui, K-Line cut forecasts MITSUI OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan's second- and third-biggest shipping lines, cut their profit forecasts after rising fuel prices and falling container rates reduced first-quarter net income.
Morgan Stanley makes first dry physical foray MORGAN Stanley has moved to cash in on positive dry bulk markets, placing its first enquiry for a period panamax.
Shipyards unable to cope with Greeks' bulk fleet ambitions BROKERS are painting a picture of increasing frustration among dry bulk shipowners unable to secure berths for lucrative construction projects in what is otherwise emerging as an active summer for shipbuilding contracts.
Costa Crociere launches Fincantieri-built Serena COSTA Crociere's newest flagship, the 112,000 gt Costa Serena, was officially launched in Genoa on Friday at Fincantieri's Sestri Ponente yard, writes John McLaughlin.
Demand for new criteria on lifeboats A CALL for a radical overhaul of design criteria and operational practices for ships' lifeboats, which continue to kill and injure seafarers involved in drills, has come from the Nautical Institute.
Sohmen-Pao says BW will seek growth through industry consolidation SHIPOWNING giant BW Group continues to look for expansion opportunities across all the sectors in which it operates.
Vancouver dock up for sale FRASER Surrey Dock, Vancouver, has confirmed that its break-bulk and container handling terminal on the Fraser River is up for sale
Connaughton confirmed as MarAd chief THE US Senate has confirmed Sean Connaughton as the country's new maritime administrator, and he will assume office on taking the oath
US Justice gives Stolt a break STOLT-Nielsen Transportation has won a postponement of potential federal indictments as a US judge refers the case to a court that will not meet until October
Top hit by expenses TOP Tankers' shares fell 12% yesterday in heavy trading after the company announced larger-than-expected losses in its second quarter
Charleston containers edge higher Record container volume of 1.98 million TEUs in the fiscal year ended June 30 was only 0.4 percent more than 1.97 million TEUs in 2005.
NIT League rejects liners' EC proposals
Connaughton confirmed by Senate as Marad chief
NYK slashes outlook
OOCL sees weaker per-TEU revenue
Halifax to meet goals despite flat container growth
Domestic air volume falls
E.R. Schiffahrt adds 8,200-TEU ship
Salvage of Cougar Ace clouded by weather
Uruguay port approved
Atlas to pay off debt
MOL to use solar power at Japanese terminal
Independent drivers oppose plan for Mexican trucks
Australia retains liner shipping's antitrust exemption Australia is to retain liner shipping's exemptions from anti-competitive legislation but will no longer permit the registration of discussion agreements.
Court rejects Chittagong feeders surcharge appeal The appellate division of the Bangladesh Supreme Court restrained feeder operators from realising congestion surcharges in Chittagong until the High Court disposes of writs filed by port users.
NYK follows fellows to slash full-year outlook
OOIL H1 profits fall 9%
Russian rail fails to keep pace with Russian maritime box-growth
Strong response to OOIL terminal sale
Active terminals market could see Fraser Surrey sale by end of 2006
Competitors vie for crucial Australian east-west rail paths
Teekay takes off Stock reaches highest price since September and analyst says it's just getting warmed up.
Talk, talk.... ...but so far no action despite more market rumours that John Fredriksen is closing in on a deal for Peter Georgiopoulos' General Maritime.
ECL buys one Euro Container Line pays $8.8m for 1995-built boxship.
TEN flags 'outstanding year' Fleet purchases lead to hike in operating profit for confident Tsakos family.
Dr Peters' $300m tonic German KG manager delivers a healthy return to investors in its shipping and real estate funds.
DryShips takes last P&A units Pacific & Atlantic of Greece empties fleet with sale of four panamaxes to compatriot DryShips
OK to Okean Aker Yards ties up deal to run Ukrainian yard and pushes for 60,000 tonnes of annual output.
Profits fall again at OOIL Low rates and high bunker costs drag OOCL results south for the second period running.
Ships collide off Japan Sixteen crew members abandon listing Russian reefer after being hit by Italian general cargo vessel.
WSF back for four ferries US state of Washington tries again with tender for new vessels, after legal wrangles delayed previous attempt.
Engineers charged Officers of South Korean handysized bulker the latest to face oily water separator accusations.
Wartsila well oiled Finninsh engine supplier powers to income growth of 200% in first half as orders keep turning.
Russia ups Black Sea exports Good news for aframax owners as volumes through Ukraine ports set to rise in August.
Sanoyas turns it around Japanese shipbuilder back in profit despite revenues falling in first quarter.
Sorry Toei story Japanese owner Toei Reefer Line slumps to a loss in the first quarter as revenues drift away.
Cosco Singapore goes offshore Rapidly expanding repair outfit picks up first FPSO order, plus six hull conversions.
Kyoei steps it up Japanese VLCC owner builds earnings and revenues in first quarter.
New boss for Southeast Asia AP Moller has announced a new chief executive for its growing Singapore headquartered operation.
Weather delays salvage Preparations to begin righting car carrier Cougar Ace have been delayed by limited visibility.
CMA CGM lends ship Boxship giant gives unnamed vessel to French government to bring aid into Lebanon.
NYK costs jump 40% Japanese owner sees first quarter profits slump 43% on higher bunker costs and other expenses.
FSL raises $55m Singapore-based First Ship Lease says it has completed a second round of private equity financing.
Fuel shortages hit Vancouver Distillate prices surging as resupply issues impact summer bunkering.
Ports test new scrubber technology Emissions 'bonnet' for locomotives may be adopted for ships at berth in California.
Durban: Fuel oil available from mid-August Durban fuel oil drought set to end a month after suppliers withdrew from spot market.
Slow start to 2006 dents Rotterdam port growth H1 throughput figures from the port point to a mere 2% growth rate this year, though oil product imports continue to grow.
Bunkers hurt H1 profits at OOIL Chairman blames poorer overall H1 result on softer container rates and higher oil prices.
ARA market stable Friday morning
Nippon Yusen shaves profit forecast on higher oil prices Increasing fuel costs weighing down earnings at shipping firms.
Bunkering facilities set to compete with global markets Indian port to offer bunkering to international customers in Special Economic Zone.
New Zealand: Fuel oil spill at Nelson harbour
Hong Kong: Heavy barge congestion as typhoon passes Bunkering was briefly disrupted yesterday due to typhoon Prapiroon.
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