Shipping Reits catching on: finance firm SHIPPING investment trusts are going to become more commonplace as shipping companies increasingly move away from unproductive price-earnings and net asset valuations, according to the head of German-controlled finance company First Ship Lease Ltd.
Pacific veggie freight rates going up CONTAINER shipping lines, including Neptune Orient Lines' APL, operating on the westbound transpacific trade route between Asia and North America have announced their intention to raise freight rates for chilled vegetables.
China Cosco rides on trade boom, beats forecast CHINA Cosco Holdings Co Ltd, the country's largest container shipping firm, beat forecasts with a 21 per cent rise in second-half earnings on the back of China's booming trade, the firm reported yesterday, and pledged to seek faster growth this year through acquisitions.
Scottish islanders protest new Sunday ferry service
Strait Talk
Big claims will lead to higher premiums SHIPPING is steadily getting safer. That is the key message to get over despite a widespread perception to the contrary.
Shipping Reits catching on: finance firm SHIPPING investment trusts are going to become more commonplace as shipping companies increasingly move away from unproductive price-earnings and net asset valuations, according to the head of German-controlled finance company First Ship Lease Ltd.
Pacific veggie freight rates going up CONTAINER shipping lines, including Neptune Orient Lines' APL, operating on the westbound transpacific trade route between Asia and North America have announced their intention to raise freight rates for chilled vegetables.
China Cosco rides on trade boom, beats forecast CHINA Cosco Holdings Co Ltd, the country's largest container shipping firm, beat forecasts with a 21 per cent rise in second-half earnings on the back of China's booming trade, the firm reported yesterday, and pledged to seek faster growth this year through acquisitions.
Scottish islanders protest new Sunday ferry service
Strait Talk
Big claims will lead to higher premiums SHIPPING is steadily getting safer. That is the key message to get over despite a widespread perception to the contrary.
Europe braced for 'illegal' box showdown DEEPSEA shipping lines continue to operate hundreds of millions dollars worth of container equipment in the full knowledge that it will become illegal in the European Union next year, according to the head of a container leasing firm.
Brussels resists demands for resurrection of 'manning directive' THE European Commission is holding out against pressure from Euro MPs for the controversial European Union 'manning directive' to be resurrected, writes Justin Stares in Brussels.
Insurers act quickly to seek shelter from the storm INSURERS have been forced to bring forward their purchases of reinsurance cover by as much as three months as a shortage of capacity mounts in worldwide markets.
Ship Finance in final split with Frontline THE 'final separation' of Ship Finance International from Frontline has been completed with the appointment of a new chief executive.
Owners set to shoulder higher hull premiums SHIPOWNERS are likely to come under steady pressure from Lloyd's and other insurers for dearer hull and machinery premiums as a result of a heavy casualty start to the year, writes James Brewer.
Cruisers getting younger and richer A new survey conducted by the Cruise Lines International Association reveals that cruisers' average age is falling, average income is rising, and a vast pool of potential prospects remains untapped
PDVSA fulfils India crude commitment PETROLEOS de Venezuela has made its second oil shipment to India following an agreement signed last year to export 2M barrels of crude a month
Transneft warns against Caspian lobbying TRANSNEFT has underlined its opposition to plans to expand the volume of Caspian crude loaded from the Caspian Pipeline Consortium terminal at Novorossiysk
Overheating causes Philippines fires PHILIPPINES domestic vessels St Peter the Apostle and Heaven Star have been hit by fire this week
US Congress focuses on nationalism NATIONALISM seems to be a continuing priority in the US Congress, where a major maritime bill conference report rewards US interests while penalising overseas entities
Embiricos, Foschi awarded EPAMINONDAS Embiricos was named Seatrade Personality for 2006 last night for his "outstanding representation of the London Greek community in the City of London."
Continuing St Petersburg boom prompts PLP to try to divert empties Continuing increases in cargo-flows to St Petersburg have prompted the second-largest terminal, PetroLesPort, to ask customers to divert some empties, in order to clear the queues.
Dalian Port IPO to fund deep-water berths HK IPO candidate Dalian Port Company plans to complete the construction of four new container berths between 2006 and 2008, using proceeds from its listing and bank loans.
DPW bids for Tuticorin phase two
Dockers take unilateral action as collective agreement talks continue
South Africa expects 15% annual growth over next few years
COSCO expects increases in rates, cargo and capacity in 2006
Stolt signs with Gulf Navigation Dubai-based firm will take over parcel tanker options and place ships in Joint Tanker Service pool.
All in the family George Economou controls 35% of DryShips 14 months after the IPO, but toss in some advice and a little magic and the number is higher.
Puncture, not crack, says Graig Hugh Williams denies that construction problems caused an ingress of water at the launch of Welsh shipowner Graig's first Vietnamese handymax.
Options open Omega is pushing ahead with newbuilding options despite smaller than projected IPO proceeds.
United front on battle for Vostochny The tussle for control of the Russian port of Vostochny has seen shares lumped into a single offshore entity.
DryShips draws down funds Bulker owner pays off old debt and confirms new acquisition will arrive this month.
Whopping slick fine Record sea pollution fine in France for V.Ships and master of containership Maersk Barcelona.
Aker delivers Nornickel's first Russian miner Norilsk Nickel (Nornickel) starts its fleet with delivery of multi-purpose vessel from Aker Yards.
Stolt picks up a plum Tumbling share price prompts buyback of another 100,000 shares by the chemical tanker owner.
Goldenport sells more Underwriters exercise over-allotments after surprise success of Greek owner's London IPO.
Trio launch India-China link Evergreen, Hapag Lloyd and Wan Hai Lines team up to tap world's fastest growing economies.
New chief at SFI The changes continue at Ship Finance International (SFI) as Fortis' Lars Solbakken replaces Tor Olav Troim.
Vroon takes MPI stake Dutch shipowner becomes majority shareholder in owner of wind turbine installation vessel.
Arctic container vessel delivered by Aker Yards After ice trials on the Northern Sea Route Aker Yards delivered the 14,500 DWT arctic container vessel "Norilskiy Nickel" to ...
New ferry arrives at Bornholm The new mono-hull fast ferry "Bornholm Express" has arrived safely at the isle of Bornholm. Last Saturday the ferry ...
"Alandia" sold to Med Rederiaktiebolaget Eckerö on Åland has agreed to sell its ferry "Alandia" to a buyer in the Mediterranean. The ferry, currently ...
Fuel oil drives Houston prices to fresh highs Firming 3% sending bunkers to price levels not seen since last year's hurricane season.
Matson cuts costs with green policies Shipowner adopting green-friendly operating policies as well as saving fuel costs with lower vessel speeds.
Master and manager ordered to pay huge pollution fine Maersk Barcelona crew members incurring hefty fine of nearly $1 million for pollution offences in French waters.
LSFO demand and cost set to soar ARACON speakers predict increasing pressure on availability and higher premiums as LSFO demand takes off in the next few years.
Oil markets: Brent crude hits record high Record highs of over $69 per barrel as ongoing tensions over Iran's nuclear program left markets shaky.
Cost increases prompts TSA to up rates on Asia-bound routes Rising costs for fuel and port fees as well as concerns over surplus of vessels prompt rate hike.
ARA markets surge in line with crude movements
Japan: Nippon Oil & NYK set record retroactive bunker price Japan's biggest shipping company and Nippon Oil Corp. have set their highest ever retroactive bunker price for March.
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