Slow rise in cost of running a vessel SHIPOWNERS spending less on repairs and maintenance, which had been a noticeable feature when the steep rises in freight rates occurred two years ago, are partly responsible for slowing down the cost of running a vessel, according to a study.
Voters seen to support Panama canal project VOTERS were expected to approve the largest modernisation project in the 92-year-history of the Panama Canal yesterday, a US$5.25 billion plan to expand the waterway to allow for larger ships while alleviating traffic problems.
Berkshire Hathaway takes over Equitas WARREN Buffett's Berkshire Hathaway is effectively to take over Equitas in a deal that is seen as lifting the pre-1993 syndicate liabilities run-off vehicle out of the Lloyd's arena.
Buffett takes over Equitas to draw line under Lloyd's run-off saga LLOYD'S could be set to achieve a prized AA financial rating after super-investor Warren Buffett extricated the market from the risk of any new run-off nightmare over Equitas by tabling a $7bn liabilities lifeline.
China Shipping buys Shanghai Times stake BULK specialist China Shipping Development will expand its bulker operators with the planned purchase of a 50% stake in Shanghai Times Shipping for Yuan411.84m ($52.1m) from Hainan Haixiang Investment.
'We are done' on Jones Act ships, says Dibner JONES Act product tankers and barges in service and on order will provide enough capacity to meet demand well into the future and owners should stop ordering more tonnage, a New York conference on the US maritime industry was told.
Seabourn to revitalise fleet MIAMI ' Luxury operator Seabourn Cruise Line has conditionally agreed to order two 32,000-gt, 450-passenger vessels from Italian shipbuilder T Mariotti ' the first newbuildings in the luxury sector for years
Kooren comments on towage battle KOTUG president Ard-Jan Kooren told Fairplay the battle to launch towage services at Le Havre involved giving some ground and holding the nerves
OPEC cuts more than expected OPEC agreed last night to cut global oil production by 1.2M bpd beginning 1 November to defend a minimum $60/barrel price floor
Panamanians vote on Canal expansion PANAMANIANS will vote on Sunday in a referendum to approve or reject a $5.25Bn proposal to expand the Panama Canal
US faces new EU rice hurdle THE European Commission is to subject imports of US long rice to strict counter-tests to protect against unauthorised GM strains
Celtic Link to hub from Cherbourg IRISH ro-ro operator Celtic Link is to launch a service between Cherbourg in France and the UK port of Portsmouth in January
New GAO report cites TWIC problems Government watchdog says TSA should fix problems with the ID card before awarding the final contract to implement the program.
OOCL volume up 12%
PNW ports push 5M-TEU mark
NY-NJ port rail projects OK'd
Houston boxes to grow 11%
Europe View: EC still aiming at maritime sector
"K" Line to exceed forecast
Mobile awaits crane
Miami airport first to require IDs for warehousing
New rules proposed for privatization of India ports
Concor says it won't discuss rate hikes in advance
OOIL seeks financing to buy four Samsung 8,000 teu Titans Hong Kong-listed carrier and port operator OOIL said it has purchased four 8,063 teu vessels from Samsung Heavy Industries for a total of US$477m.
US government watchdog warns of ID programme pitfalls The test phase of the US Transportation Worker Identification Credential has revealed cost and time over-runs, and the risk of more of the same, if contract-oversight procedures are not tightened.
Muted peak season hits OOCL's Q3 revenues
EU imposes more anti-dumping taxes on Chinese imports
CMA CGM adds ship and calls to Asia-Europe string
Failure of Lamong tender forces Jakarta to raise stake on offer to foreign investors
Japan and Indonesia sign MoU in bid to reduce import duties on agricultural goods
CMA CGM to invest in Busan New Port development
Dunkirk doldrums attributed to delayed APMT handover
Intermodal is the key factor in CN's Q3 revenue growth
Blystad behind buy Sale-and-purchase brokers report that Norway's Arne Blystad is the buyer of a capesize newbuilding contract.
IOPC Funds to levy $5.6m Low level of tanker spills leads to modest compensation bill at Mans Jacobsson's last assembly.
"Fair treatment" win Climb-down by US on guidelines for seafarers involved in accidents and spills hailed as 'victory' by unions.
Bharati builds profit Indian shipyard sees 60% leap in second quarter income as sales and auxiliary revenue increase.
Bribes row for trial Judge halts arbitrations so that Sovcomflot claims of corruption against Dmitry Skarga will be dealt with by a London court.
Sime Darby sells out of Jaya Malaysia's largest multinational offloads entire stake in owner and shipbuilder to Nautical Offshore Service.
Panama prepares for yes vote Referendum on $5.25bn Panama Canal expansion expected to give go-ahead for eight years of work.
New ship for EU2 Ninth vessel to be added to Asia/North Europe service next year by Grand Alliance members.
Tallink cutting fewer jobs Talks with unions over integration of Silja Line and Superfast Baltic ferry operations mean 128 staff face chop.
Samsung feeling strong Korean yard adds another $1bn to 2006 order intake forecast as newbuilding business booms.
Weaker start for Gotland Swedish tanker and ferry owner still struggling with higher costs as it posts first quarter result.
Numbers up at OOCL Hong Kong liner operator sees increases in volumes and revenues across the board in third quarter.
Closing time US shipbuilding consultant Brent Dibner says Jones Act tanker newbuilding book is sufficient to meet future demand and the cover should be closed, but OSG may have a different read.
NYK inks CPC deal Japanese owner puts pen to paper on 25-year, four ship LNG charter to Chinese Petroleum Corp.
L&T lifts earnings Indian shipbuilding newcomer is promising more orders as profit rises in second quarter.
Sumatec back for more Malaysian owner returns to China for another pair of 8,000-dwt tankers on back of time charter.
ITF inspected 200 ships in Baltic Week of Action International Transport Workers' Federation (ITF) were instrumental in USD 471,999 in back pay being paid to crews during its Baltic ...
First question to new finance minister: "Where's the tonnage tax?" The first question to the new Swedish Minister of Finance, Anders Borg, in his first question session in the Swedish ...
Green light for new Norway'Sweden ferry connection After a successful trial call in Str'mstad in Sweden by the ro-ro/passenger ferry Pride of Telemark, Norwegian Kystlink ...
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