Japan shipping lines post Q3 profit falls; cut annual forecasts JAPAN's top three shipping firms have said that a fall in freight rates slashed quarterly profit more than 20 per cent, and surprise cuts in annual forecasts at the two largest firms drove the sector's shares sharply lower.
70% of Indians against letting in toxic ship SEVENTY per cent of Indians are against allowing an asbestos-laden decommissioned French warship to be broken up in India, according to a survey commissioned by the rights group Greenpeace.
General Maritime sells 9 ships to S'pore's Tanker Pacific GENERAL Maritime Corp, the second-largest US tanker owner, agreed to sell nine ships to Singapore's Tanker Pacific for US$247.5 million in an effort to reduce the age of its fleet and modernise it.
Supertanker shortage expected
Bangladesh truckers call off port strike
Caribbean tanker rates continue to fall on excess supplies
Containers washed off Maersk ship DOZENS of containers were swept into the sea from a Maersk ship late last week soon after it left Rotterdam for Hamburg.
Owners face P&I hike of up to 18.5% MOST of the world's merchant shipowners are likely to have to pay just over 6% more towards group reinsurance costs from February 20.
Genmar has $1bn in kitty for acquisitions THE $247.5m sale of its nine oil bulk and ore aframaxes to Tanker Pacific ' disposal of its final "non-core" assets ' will enable General Maritime to "actively look for acquisition opportunities", the Peter Georgiopoulos enterprise has said.
Baltic wants to buy back 35% of shares THE Baltic Exchange will buy back up to 35% of its equity at a premium if it receives approval for changes to its rules on share ownership.
DP World wins P&O takeover battle as PSA backs down PSA International has pulled out of the bidding war for P&O, leaving the way clear for Dubai's DP World to become the globe's third largest terminal operator.
Al-Salam victims 'have right to know' IMO Secretary General Efthimios Mitropoulos paid a flying visit to Egypt this week to call for full co-operation in the investigation into the sinking of the al-Salam Boccaccio 98
Matson to upgrade ro-ro capacity MATSON Navigation has announced plans to convert its boxship Mokihana to a combination container/ro-ro ship and hopes to have it in service by mid-2007
GenMar sale ends rationalisation GENERAL Maritime has sold nine 'non-core' Aframax tankers, concluding a rationalisation programme that has cut its fleet in half
DP World wins P&O ports bidding PSA International drops out of takeover battle for P&O, paving the way for rival DP World to proceed with $6.8 billion acquisition.
U.S. trade deficit mark in 2005
FedEx economist sees steady global growth in '06
Legal Brief: Love Thy Regulator
Matson adding ro-ro capacity
Suez Canal reopens
Hamburg Süd opens Mexico office
UPS raises dividend
Union Pacific adding 'green' locos for LA railyards
P&O returns forced PSAI's retreat P&O shareholders are expected to approve the 520p/share (US$8.74) offer made by DP World following PSA International's surprise withdrawal today.
Patrick finds second solution to troubled joint venture with Toll Patrick Corporation has found a way to avoid a value-destroying dissolution of Pacific National, its rail joint venture with Toll Holdings, while expanding Patrick's rail capability.
Mumbai offshore box-terminal bidding postponed again
CP Valour cargo claims could reach US$15m
End of the AuSea Express
COSCO's first Asia-Med service to cover Piraeus
Fowairet resumes active service, after shipyard repairs
Updated: PSAI withdraws from P&O bidding
Japanese liners see decline in container business
P&O shareholders await PSA's response as bidding war reaches climax
Jones joins Armada Shipmanager Saunders Jones is back in business in former employee Bobbi Wolff's new US-flag venture.
Frontline quartet China looks to have given John Fredriksen a sweet price on VLCC newbuildings.
No divorce at Star Bergen's Westfal-Larsens have lost a bid to split Star Shipping with the Griegs and go their own way.
FMC slashes $4m Sea-Land fine Polticially appointed US regulators have overridden staff recommendations and cut by 80% a $4m fine against Sea-Land Service.
Ofer buys Genmar OBOs Sale of nine aframaxes to Tanker Pacific to cost 55 staff their jobs as Piraeus office is axed.
George wins 'firm' price Economou's private operation secures $40.5m for 1992-built aframax.
Ofer sells Sunshine But an extra $14.5m will help keep shipowner's pocket warm
Singapore concedes P&O Share price of UK ports group tumbles as Dubai's $6.8bn bid prevails.
Cash Callimanopulos Greece's Trade & Transport continues to buy Spanish-built suezmax tankers.
Schat-Harding off the hook? Umoe subsidiary says servicing of equipment implicated in fatal lifeboat fall was done by a third party.
Blasco fears asset sale Ukrainian shipowner's remaining property could be offloaded to pay creditors.
Fradkov quits Fesco Russian prime minister Mikhail Fradkov's son Pyotr has left deputy's job after 18 months.
Wartsila gets automated Finnish marine enginebuilder adds to its portfolio with $74m acquisition of Singapore based Total Automation.
A good week for Fain RCCL chief cashes in more stock options to bring his profit tally for the week to $6.5m.
Crew safe after engine blast Cambodian-flagged boxship's 18 seafarers unhurt after incident off Vladivostok.
Smit smiling Dutch salvage and towage company is toasting a 40% rise in net profits last year.
Arpeni thinks big Indonesian owner sets aside $100m to add 12 vessels to its fleet this year.
All eyes on PSA Time fast running out for Singapore port operator in battle for UK ports and ferry group P&O.
Sanoyas mired in the red Healthy operating profits are not being turned into bottom-line earnings at Japanese shipbuilder.
Limburg bomber escapes Fawaz Al-Rabeei on the run after group of suspected terrorists tunnel out of Yemeni prison.
Profits drop at Kyoei More pain for Japanese tanker owner as nine month results show 75% decline from a year ago.
Reversal of fortunes at Inui Japanese handysize specialist moves into profit after two consecutive quarters of declines.
"Tricolor" collision ruiling appealed The US court ruling that the 1982-built, 1036 TEU container vessel "Karibia" was entirely to blame for the sinking ...
Stad ship tunnel no priority The Stad ship tunnel no longer has solid support from the coalition partners in the current, leftist Norwegian government. During ...
IMO to send experts to Egypt IMO will provide technical expertise to the Egyptian investigation into the ferry disaster in the Red Sea. Egypt has launched ...
Colombia shakes off diesel rumours Suppliers confirm ample gas oil avails after speculation that supplies were tight.
Singapore suppliers await low-sulphur factor With the first SECA due in the Baltic Sea this year, Singapore demand for low sulphur fuel could increase.
Lube plant expansion could supply eastern requirements Lukoil president says lube plant expansion could supply lubricating materials to the entire east of Russia, including for the production of sea-going vessels.
Rotterdam market remains stable
Ex-director dismisses former employer's claims A former employee of Triton Marine Fuels has dismissed claims made by the company.
Changing of the guard at IBIA In an extract from a frank interview with Bunkerworld magazine, Don Gregory, chairman of the International Bunker Industry Association (IBIA), admits that the industry association needs to adapt to changing times.
Netherlands: Expansion prompts new appointment
Malaysia injects 15 new police boats to deter piracy Malaysia stepping up Malacca Strait anti-piracy efforts.
Statoil to produce more LSFO in Mongstad Ahead of SECA in Europe, Norwegian company supplying more LSFO in Mongstad.
Chimbusco posts 28% rise in bonded bunker sales in 2005 Supplier reporting 28% rise in bonded bunker fuel sales for 2005.
Aegean eyes more markets as barge fleet expansion continues Supplier investing in up to 20 new bunker barges and applying for a bunkering licence in Singapore.
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