Japan's top 3 shipping firms raise their profit outlooks JAPAN's top three shipping firms yesterday boosted their annual profit outlooks above expectations on softer fuel costs and better freight rates, with Mitsui OSK Lines putting in the strongest performance.
TUI's shipping unit heads for 2006 loss GERMAN tourism and shipping firm TUI posted a 25 per cent drop in quarterly core profit yesterday and warned it now expected its sea container division to have a loss for the full year as costs weigh.
EasyCruise to launch Greek operations next year EASYCRUISE, a cruise-line sister company of low-fare airline EasyJet plc, will start operations to the Greek islands on May 31, 2007, chairman Stelios Haji-Ioannou said.
UPS adds delivery-time options for global shipments
Admiralty Casebook
Shipowners still able to limit liability for negligence ASHIPOWNER'S liability for negligence under the Jones Act is not over and above disability benefits paid to a seaman, and a shipowner may offset from any damages awarded against it the benefits that it has already paid, a US appeals court ruled last week.
Port Shots
Port Shots EAGLE Bulk Shipping Inc, whose ships carry commodities such as coal and iron ore, said third-quarter profit rose 23 per cent after its fleet expanded.
Japan's top 3 shipping firms raise their profit outlooks JAPAN's top three shipping firms yesterday boosted their annual profit outlooks above expectations on softer fuel costs and better freight rates, with Mitsui OSK Lines putting in the strongest performance.
TUI's shipping unit heads for 2006 loss GERMAN tourism and shipping firm TUI posted a 25 per cent drop in quarterly core profit yesterday and warned it now expected its sea container division to have a loss for the full year as costs weigh.
EasyCruise to launch Greek operations next year EASYCRUISE, a cruise-line sister company of low-fare airline EasyJet plc, will start operations to the Greek islands on May 31, 2007, chairman Stelios Haji-Ioannou said.
UPS adds delivery-time options for global shipments
Admiralty Casebook
Shipowners still able to limit liability for negligence ASHIPOWNER'S liability for negligence under the Jones Act is not over and above disability benefits paid to a seaman, and a shipowner may offset from any damages awarded against it the benefits that it has already paid, a US appeals court ruled last week.
Port Shots
Port Shots EAGLE Bulk Shipping Inc, whose ships carry commodities such as coal and iron ore, said third-quarter profit rose 23 per cent after its fleet expanded.
Japan's top 3 shipping firms raise their profit outlooks JAPAN's top three shipping firms yesterday boosted their annual profit outlooks above expectations on softer fuel costs and better freight rates, with Mitsui OSK Lines putting in the strongest performance.
TUI's shipping unit heads for 2006 loss GERMAN tourism and shipping firm TUI posted a 25 per cent drop in quarterly core profit yesterday and warned it now expected its sea container division to have a loss for the full year as costs weigh.
EasyCruise to launch Greek operations next year EASYCRUISE, a cruise-line sister company of low-fare airline EasyJet plc, will start operations to the Greek islands on May 31, 2007, chairman Stelios Haji-Ioannou said.
UPS adds delivery-time options for global shipments
Admiralty Casebook
Shipowners still able to limit liability for negligence ASHIPOWNER'S liability for negligence under the Jones Act is not over and above disability benefits paid to a seaman, and a shipowner may offset from any damages awarded against it the benefits that it has already paid, a US appeals court ruled last week.
Port Shots
Port Shots EAGLE Bulk Shipping Inc, whose ships carry commodities such as coal and iron ore, said third-quarter profit rose 23 per cent after its fleet expanded.
Japan's big three see profits hit by fuel hikes NYK, MOL and K Line all saw profits fall dramatically during the first half of fiscal 2006, despite increased revenues. The main spoiler was increased fuel costs.
Calls for overhaul on liability limitation CHARTERERS need a new international convention which recognises a right to limit liability, a leading City lawyer has said.
Stena books 'superferrys' from Aker GOTHENBURG shipping powerhouse Stena has lined up with Aker Yards a €400m ($468m) order for two "super ferries" as it awaits a decision on its '1.3bn bid for Baltic ferry group Scandlines.
Castalia Springs investors burst into FFA market A new investment fund specialising in forward freight agreements (FFAs) is being spearheaded by Philippe van den Abeele, a key figure in the development of the modern futures market in shipping, writes Tony Gray.
Mitropoulos mandate renewed IMO Council has renewed Efthimios Mitropoulos's mandate to serve as secretary-general of the UN agency for a further four years
Sovcomflot and Unicom: clarifications FAIRPLAY has investigated certain allegations regarding Sovcomflot made in articles published between December 2005 and March 2006 and wishes to clarify the position
Long-term tanker demand assured THE tanker sector need not fear US political calls for an end to foreign oil dependence, according to energy analyst Michael Economides
Jones Act demand more acute WITHDRAWALS in the Jones Act tanker trade could come sooner than expected, with Overseas Shipholding Group (OSG) poised to take advantage
News Analysis: Hapag-Lloyd figures the result of integration in a harsh market Continuing earnings losses by TUI's shipping division in Q3 reveal the burden of integration-costs, without which Hapag-Lloyd would be reporting results on the level of other carriers troubled by the market's current high costs and negative economic conditions, according to analysts.
Four make short-list for Patrick Shipping A Tasmanian consortium of Launceston's Southern Shipping and Devonport-based Chas Kelly Transport has emerged as the frontrunner to buy Bass Strait feeder operator Patrick Shipping and its associated forwarding activities.
NYK and MOL record sharp fall in H1 profits, but raise forecasts for H2
Virginian governor heads for talks with AP Moller-Maersk
Boxshipping pioneer Sir Kerry St Johnston dies
SCI deploys newbuildings in US and Europe services
Indonesia to build new container terminal in East Kalimantan
Asia-Russia/E.Europe trade to top 9m teu by 2016
NYK to pay less for ship fuel
K Line lifts 12-month forecast, despite severe decline in H1 profits
HMM post US$1.1m net loss in Q3
Macaque makes a monkey out of the authorities
Shipping to remain a drag on TUI's earnings until 2007 says CFO
Stena orders ultra-large ferry from Aker Yards Aker Yards has agreed with Stena Rederi AB about the delivery of two ferries in the first and third quarter ...
Stranded ferry lifted off breakwater The stranded ferry 'en is back in the water. In the early hours of Wednesday morning the floating crane Samson ...
Aker Yards expects savings from new business model Aker Yards has announced a new business model for its shipyards in the business area Cruise & Ferries. During a 100 ...
Crude gets 'bullish surprise' Oil markets at 2-week high with bunker prices following.
O.W. Bunker expands physical supply through acquisition O.W. merger with ABC Atlantic Bunkers to cover African coast from top to bottom.
Another shipowners association calls for switch to distillates Asian shipowners association pulls away from 1% sulphur cap on IFO and backs radical INTERTANKO proposal.
New regulation halts bunker supply in Mumbai Indian suppliers united against baffling new regulation amid fears it could spread to other states.
Demand picks up in Asian hub Singapore market sees surge in activity after days of thin trade
Falling prices boost shipping lines' prospects Japan's largest shipping companies revise their profit forecasts upwards on back of 'bunker bonus'.
Rotterdam market stays firm
Another record result from WFS Earnings so far this year up by nearly 70% with two out of three quarterly results beating records.
Singapore onshore fuel oil stocks rise Weak Chinese demand sees Singapore inventories grow.
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