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Shipping News

Maersk Line helps boost PTP's gains
BENEFITING from the integration of Maersk Sealand and P&O Nedlloyd into the new Maersk Line, the neighbouring Port of Tanjung Pelepas has posted record throughput of 2.24 million TEUs for the first six months of this year.
NYK sees better container profit
NIPPON Yusen KK , Japan's largest shipping line, said earnings at its container unit will improve next fiscal year as freight rates on European routes increase.
Hanjin Shipping's Q2 profit falls 51% to 33.7b won
HANJIN Shipping Co, South Korea's second-biggest shipping company by market value, said second-quarter profit fell 51 per cent on higher fuel costs and a stronger won.
PIL expands, acquires stake in NZ-based PDL
Cosco Pacific in US$99m Quanzhou venture

Admiralty Casebook

Burden of proof on insurers
A CANADIAN appeals court has upheld a decision that a group of marine insurers and not the insured vessel's owners had the burden of proving want of due diligence if they want to avoid paying a claim for tail shaft breakage.

web site

Shipping News

Maersk Line helps boost PTP's gains
BENEFITING from the integration of Maersk Sealand and P&O Nedlloyd into the new Maersk Line, the neighbouring Port of Tanjung Pelepas has posted record throughput of 2.24 million TEUs for the first six months of this year.
NYK sees better container profit
NIPPON Yusen KK , Japan's largest shipping line, said earnings at its container unit will improve next fiscal year as freight rates on European routes increase.
Hanjin Shipping's Q2 profit falls 51% to 33.7b won
HANJIN Shipping Co, South Korea's second-biggest shipping company by market value, said second-quarter profit fell 51 per cent on higher fuel costs and a stronger won.
PIL expands, acquires stake in NZ-based PDL
Cosco Pacific in US$99m Quanzhou venture

Admiralty Casebook

Burden of proof on insurers
A CANADIAN appeals court has upheld a decision that a group of marine insurers and not the insured vessel's owners had the burden of proving want of due diligence if they want to avoid paying a claim for tail shaft breakage.

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Seaspan to charter four 5,100-TEU newbuilds to MOL CIMC to relocate Tianjin box plant NYK subsidiary invents burlap-labelling machine PTP gears up to handle more China cargo Port of Oakland granted land for intermodal rail yard Antwerp authority appoints Asia reps Despite strong cargo demand rising costs hit Cathay's H1 profits Qantas, Jet Airways sign codeshare deal KLM to halt Amman, Damascus flights

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4 more Indian clinics accredited for P&I Club's PEME programme GE Shipping to move Court for demerger time extension Greatship acquires modern PSV CSL launches 3 vessels in a single day! India may not insist on US continuing duty-free benefits MMTC invites bids for import of 15,000 tonnes of chana Velji Dosabhai stuffs first 2 boxes on ICD-Ankleshwar launch day Dedicated rail freight corridor SPV: Ball now in Cabinet's court Rising dollar no bother!

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CargoNet: new trains starting in autumn Panalpina benefitting from the strong economy

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AUGUST 10, 2006
ABS wins 2 Prestige court rulings Supply boat crew kidnapped off Nigeria TBS sells tweendecker Intertanko welcomes Malacca Strait decision

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AUGUST 10, 2006
Floods close Indian shipyard Spain must give ABS access to Prestige court file Malacca Straits war risk charge ends

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Inchcape executive Peter Pallas dies Intermodal count leads way to busy month for rail traffic Port of Portland holding Seaport Celebration event New dining options coming to Portland International Airport Pipeline administration sets orders for BP Exploration's North Slope network

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UK ports keep security at 'moderate' level as terrorist threat brings air travel to a halt BRITISH seaports were advised to retain existing 'moderate' security arrangements yesterday, after a reported foiled terrorist plot to blow up planes leaving Heathrow raised MI5's threat of attack to category 'level 1'. Hapag-Lloyd warns market of steep fall in full year profits GERMAN company Hapag-Lloyd is the latest box line to issue a full year profits warning after sliding into the red in the first half. Box lines to blame, says Adrion CONTAINER shipping's financial woes are largely self-inflicted, the head of Hapag-Lloyd admitted yesterday, writes Janet Porter. BP Alaska shutdown sparks oil company scramble for tankers US WEST coast refiners and Alaskan producers are urgently booking tankers and crude cargoes to replace lost volumes from BP's closure of the Prudhoe Bay field. Futures market hectic as vessel demand soars ANTICIPATION of stronger tanker demand has fired up the freight derivatives market with an increase in paper business outstripping physical fixing, writes Neville Smith.

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AUGUST 10, 2006
Hapag liners post 1H operating loss HAMBURG 10 August - German shipping and tourism group TUI, parent company of Hapag-Lloyd, has warned shareholders that the full-year contribution from the liner shipping division will be well below the high pre-year result Dutch relax corporate registration LAST month the Dutch parliament adopted changes to the law regarding company registration Swansea Cork sells ferry to Egypt IRISH Sea operator Swansea Cork Ferries has sold its 34-year-old Superferry and plans to purchase a new ship to commence its service in March 2007 Nigeria forms admin/safety agency MARITIME lawyer Mfon Usoro has been appointed director general of Nigeria's new National Maritime Administration and Safety Agency Rickmers meets breakbulk demand BUOYANT demand for breakbulk shipments from Europe to Asia has prompted Rickmers-Linie to bring on extra tonnage for its north Europe-Middle East-India service Security level unchanged at UK ports SOURCES have told Sea Sentinel that there has been no increase in security levels at the UK port of Dover or at any of the country's other ports UK terror alert level now 'critical' Great Eastern seeks more time Lloyd Werft blaze under control French ferry spat boils over PIL acquires Pacific Direct Line ABS wins Basque ruling Spain ordered to reveal Prestige evidence

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AUGUST 10, 2006
Impact of terror threat eases Officials said air delays were subsiding but could continue for days, after news that 21 people tied to a terrorist plot had been arrested. Corpus Christi nears deal on container terminal Cogsa limits valid in theft case, court rules CP Ships integration hits TUI AG profit Hanjin's half-year profit plummets Panalpina earnings soar WTSA recommends rate hike for forest products Trade deficit shrinks IBM wins Safmarine pact Air France-KLM revenue rises Great Lakes shipments increase Pacer promotes Randy Strutz

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AUGUST 10, 2006
Operating costs depress another forecast, while asset-free Panalpina soars Panalpina showed the benefits of asset-light business today, as strong H1 results were announced, just as another ocean carrier forecast was reduced because of opcosts, combined with pressure on freight-rates. NCC shareholder discussions continue in private Discussions between shareholders of Russia's National Container Company are continuing, but in private, and the terminal-operator's partnerships will not be affected by any shareholder change, according to one NCC partner. Indian government turns down Vizhinjam container port project Hanjin H1 profit halves on high fuel prices PIL takes stake in Pacific specialist Israel war risk surcharge reduced Panama Canal plans to become Brazilian distribution hub Yang Ming adjusts intra-Asia services COSCON to join India loop Guangzhou Port to expand 'Shuttle Bus' network

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AUGUST 10, 2006
Tanker stocks dip But analyst says morning's trend is not likely tied to UK arrests in jetline terror plot. Three years, six months and 12 days... ...after Navigator Gas files for bankruptcy its bondholders finally take control. BP scrambles Oil major says it has bought more than 3m barrels of crude on open market to feed its west coast refineries. Banking on it Transport financier DVB promises record year after loan profits rise, impairments drop. Cruiselines weather storm Carnival and RCCL shares hold steady with little apparent damage from terror jitters. Profit prised from Noble Reduced turnover and auxiliary income send net profit tumbling at Hong Kong trader and owner Noble Group. Concordia edges up Second-quarter income grows at Sweden's Concordia Maritime with much ground to be made up for the full year. More red ink for TUI Shipping division now has operating losses to wrestle with as well as costs from CP Ships' integration. Korea Line slumps First half profits halved for Asian gas and bulk owner. Floods shut ABG yard Mumbai-listed shipbuilder ABG Shipyard shuts up shop temporarily as floods swell nearby river. Down, but not out Japanese bulker player Inui Steamship's profit slumps in first quarter but things look brighter for the full year. Cougar delayed again Sea swells prompt salvors to move ship into bay off Unalaska Island in search for calmer conditions. Hanjin profit chopped First-half net income slashed 56% as soaring fuel costs and a strong local currency bite. TBS offloads tweendecker US dry cargo player offloads elderly tweendecker as second profits halve on lower rates. Diana slips to a loss Purchase of fleet management firm pushes Greek bulker player to a $7m loss in second quarter.

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AUGUST 10, 2006
CP Ships integration gives TUI shipping loss Hanjin's first half profit slumps 56% Seaboard Corp.'s 2nd quarter net income up 10.5% COSCO to join China/India service Congress ends CBP ad valorem tax on U.S.-flag ship repairs overseas WTSA lines raise rates on forest products U.K. airports on "critical threat" security alert Alaska Railroad working on mainline after accident Wednesday Pacer gives Strutz extra role at logistics unit Kenco's California hub to move from Ontario to Chino Panalpina's 1st half income up 58% DP World receives assurances over London Gateway project Port of Tanjung Pelepas' throughput up 8% in first half Laem Chabang's TIPs terminal gets two gantry cranes

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AUGUST 10, 2006
Environmental disaster in the Mediterranean The Israeli bombings of Lebanon have resulted in an ecological crisis in the Mediterranean. The destruction of the oil-fired ...

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AUGUST 10, 2006
Buyers wait as oil prices tank US buyers looking for lower prices as oil market fears evaporate. Busted bunker supplier: 'We're not guilty' Company in alleged black market fuel smuggling racket responding to 'gossip'. NYK July bunker bill in Japan jumps $1m NYK saw a 3% rise in its July bunker bills in Japan after Nippon Oil Corp. raised its retrospective bunker prices. WFS continues to perform well Q2 profits close to record-breaking Q1 result and first half profits up nearly 75%. New Argos jetty boost for oil products From 2007 onwards, at least 4 million tonnes of mineral oil products will be handled via the new jetty/quay annually. Rotterdam market decreasing Thursday morning Piraeus ready to handle LSFO demand Supplier confirms LSFO is now produced locally to meet shipping needs. Singapore: Fuel oil stocks slide from all-time high Titan looks to inauguration of Yangshan storage project Groundbreaking date set to take place this year for the first phase of the project. Profit falls on bunker costs Thailand's largest sea transportation firm posts 51% drop in net profit on inflated bunker costs and lower freight rates.