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Hutchison Port pre-tax profit up 14% to HK$10b
HUTCHISON Whampoa, which owns the world's largest port operator, said its 2005 profit from managing container terminals rose 14 per cent as shipments were boosted by Asia's expanding trade with the US and Europe.
SingTel launches new maritime service
SINGAPORE Telecom has rolled out a new maritime service promising unlimited broadband satellite communications including data and voice between ship and shore for a fixed monthly fee.
Cosco Pacific H2 net profit up 6% at US$120.2m
COSCO Pacific Ltd, the world's fifth-largest port operator, increased profit by 5.9 per cent in the second half as it handled more cargo and leased more containers because of a surge in China's exports.
Toll needs to raise A$5.5b bid for Patrick: analysts

Admiralty Casebook

Vessel's unseaworthiness is effective cause of cargo loss
AN English court last week upheld the ruling of a panel of arbitrators that once a vessel's unseaworthiness is found to be a cause of cargo damage, there is no further need to inquire whether that unseaworthiness was the effective or proximate cause of the loss.

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Shipping News

Hutchison Port pre-tax profit up 14% to HK$10b
HUTCHISON Whampoa, which owns the world's largest port operator, said its 2005 profit from managing container terminals rose 14 per cent as shipments were boosted by Asia's expanding trade with the US and Europe.
SingTel launches new maritime service
SINGAPORE Telecom has rolled out a new maritime service promising unlimited broadband satellite communications including data and voice between ship and shore for a fixed monthly fee.
Cosco Pacific H2 net profit up 6% at US$120.2m
COSCO Pacific Ltd, the world's fifth-largest port operator, increased profit by 5.9 per cent in the second half as it handled more cargo and leased more containers because of a surge in China's exports.
Toll needs to raise A$5.5b bid for Patrick: analysts

Admiralty Casebook

Vessel's unseaworthiness is effective cause of cargo loss
AN English court last week upheld the ruling of a panel of arbitrators that once a vessel's unseaworthiness is found to be a cause of cargo damage, there is no further need to inquire whether that unseaworthiness was the effective or proximate cause of the loss.

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Hyundai vessel sinks off Yemen CS Terminal acquires 40pc share of Nansha Port Phase 1 OOCL newbuild to serve Asia-Europe trade US Customs seize US$6m worth of illegal China textiles TUI's shipping division posts earnings of EUR279m for 2005 Maersk adjusts Israel-China BAF charge Bonded warehouse opens in Shenzhen MASkargo expecting new freighters Shanghai, United Airlines sign code-share deal Menzies 2005 profit up 20pc

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Exports set to hit $ 100 bn in 2005-06-Nath Spice exporters urge Maharashtra govt to reduce late payment interest rates TMIL keen on bidding for development of clean cargo berths at Paradip Port Deepening of JNP approach channel to be completed by Nov. 2008 New record in urea unloading set at Vizag Container transport revolution rolls on track! AIAI calls for rationalisation of VAT structure RBI to unveil credit policy on April 18 Formula for sharing service tax revenues with states being worked out Commerce Ministry clears doubling of SurSEZ area ONGC to increase investments in Mangalore SEZ Panel to decide formula for compensating states in CST phase-out ICS' two-day seminar begins tomorrow

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MARCH 23, 2006
EU bans 92 airlines from its skies Peijs U-turns Betuwe Line into the sole hands of ProRail PWC Logistics with new joint venture

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MARCH 23, 2006
Euronav orders VLCCs Budget disappoints UK shipping industry UK sea passenger numbers decline continues Court reversal for Stolt-Nielsen Wallenius "disgusted" by oil pollution offence Biggest boxship named Rina issues first Green Passport Sinwa and ShipServ link up

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MARCH 23, 2006
Stolt-Nielsen loses a round in antitrust fight USCG investigators sent to fire damaged Star Princess Fuel costs hit Carnival earnings SeaDrill orders fourth jack-up at Keppel Wallenius to pay $6.5 million in pollution case

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MARCH 23, 2006
Corps holding public meeting to discuss Columbia jetty repairs Bellingham commissioning ceremony set for new Coast Guard cutter Holland America Line flagship wins Ship of the Year nod for 2006 AAPA taps Sen. Susan Collins as 'Port Person of the Year' New Boeing 747-400 freighter heading to MAS Cargo service

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Hyundai Fortune 'firework' blaze to spark record insurance claim A RECORD total insurance claim affecting all the world's main cargo markets is shaping up from the Hyundai Fortune Blaze. Storey sets environmental agenda BRITAIN'S Chamber of Shipping is set to go green with the election of Maurice Storey as the shipowner body's president at its annual meeting in London yesterday, writes David Osler. Passenger dies, 11 hurt in cruiseship fire ONE passenger died and 11 were hurt when fire broke out on passenger decks of the Star Princess early yesterday as the Princess Cruises vessel sailed from the Cayman Islands to Jamaica, Reuters reports. US shipping industry accused of not entering DP World takeover 'dialogue' THE hysterical treatment of DP World's takeover of P&O in the US was partially brought about by "ignorance" of maritime matters in Washington, an influential Republican Congressman admitted in Stamford this week.

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MARCH 23, 2006
Star Princess fire: one dead AT LEAST one person is dead and an undisclosed number injured after an early morning fire today that destroyed more than 100 cabins on Princess Cruise's Star Princess, Jamaican and USCG officials report C-P Offen reassures KG investors CLAUS-Peter Offen is putting his money where his mouth is by pitching more than €20M ($24) in a fleet KG fund for 14 sub-Panamax vessels of 1,800-2,800 teu capacity Carnival reports cruise wave breaking CARNIVAL Corp profits dropped 19% during the first quarter on much higher fuel costs, while 'wave season' bookings began falling off earlier than usual DNV cites growing owner pressure SHIP owners are quietly asking class societies not to give 'conditions of class' determinations because charterers see these as a reason to reject vessels Native protest costs CVRD 1M tonnes BRAZILIAN giant Companhia Vale do Rio Doce estimates that it suffered a 1M tonne cargo loss through the recent invasion and blockade of its railway by native Indians Magic pipe ro-ro manager agrees fine WHISTLEBLOWER tips have led Wallenius Ship Management in Singapore to agree to pay $6.5M in fines on oil dumping-related charges in the US Hyundai Fortune has not sunk Cruise passengers killed in bus tragedy Hapag-Lloyd expects drop in profits Piracy: better and worse Two missing after BC ferry sinks

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MARCH 25, 2006
Canal capacity good until 2012: Official Panama Canal Authority says upgraded technology, operations will handle growing container traffic. Dezenski leaving DHS Hyundai ship fire under control Ex-Waterman executive Farrell dies at 83 Hanjin adds China-U.S. service WSC lines, Coast Guard in port security pact New truck plan for Vancouver New trans-Atlantic loop for CMA CGM, China Shipping Airlines tackle e-freight St. Lawrence Seaway opens

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MARCH 23, 2006
Firefighters battle Hyundai Fortune blaze Fire and salvage tugs are standing by the Hyundai Fortune which caught fire when off the coast of Yemen on Monday afternoon following an explosion in one of the containers. Cochin terminal drivers threaten indefinite strike Drivers in the port of Cochin have given notice to container trailer operators that they will go on indefinite strike from midnight on March 26 in support of their wage claim. The two unions, CITU and CTTU, have also demanded settlement of various 'problems' faced by trailer drivers in the Rajiv Gandhi Container Terminal. Strong ports business boosts COSCO Pacific Brazil health inspectors' strike hits carriers New vessel enters MSC Silk Express service Rijeka aims for Adriatic gateway status Hyundai drops Indonesia in favour of India Rotterdam hosts the biggest box ship Bjork Eklund group buys into Baltic Transport Group MacAndrews upgrades its Indian Ocean service Thamesport takes new terminal tractors Bangladesh seeks to commercialise Chittagong box terminal New IMO regulations at a glance Hanjin adds North China-US service

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MARCH 23, 2006
Stolt shocker A US circuit court has delivered a long-dreaded setback to chemical tanker giant Stolt-Nielsen (downloadable court ruling on inside page). Euronav in two-VLCC order Belgium's Euronav has confirmed weeks of speculation with an announcement that it has ordered two $120m VLCCs at Hyundai. Seaway wants more traffic A German multipurpose ship and a CSL self-unloader opened two sections of the St Lawrence Seaway for the sailing season this week. Tailwind behind OMI deal Norway's Tailwind is behind one recent sale-and-charterback deal by Craig Stevensen-led OMI. BC pledges to update fleet British Columbia premier Gordon Campbell says 'pretty rapid action' will be taken to order new ferries in the wake of yesterday's sinking. Red Ensign 'at risk' Requiring UK nationals on tonnage-tax ships will scare foreigners off the UK flag, warns the new top lobbyist for UK shipowners. Bourbon bulks up French bulker and supply ship owner doubles profit in 2005 as markets improve. Carnival fire claims one life Mystery fire on-board Carnival cruise ship leaves one dead and several injured. Q-Ship cleans up Shareholders can expect a nice payout after Qatar Shipping Co (Q-Ship) announces tidy profit in 2005. Bunkers costs no fun An $82m rise in fuel bills has led to a first quarter downturn in the profitability of Carnival Corp. Salvors tackle HMM blaze SvitzerWijsmuller team aims to control devastating boxship fire off Yemen, as it spreads to fore of vessel. Guangzhou builds profit Chinese yard Guangzhou Shipyard International (GSI) more than doubles profit in 2005. Another Lenac sell-off Court orders sale of bankrupt Croatian yard's equipment, plus offers dock for rent. Three out of four aint bad Reduced fourth-quarter income fails to dampen Coscol's spirits as Chinese giant posts another bumper year. Trygve Seglem for president Knutsen OAS managing director to head Norwegian Shipowners' Association. Bergshaven joins Fredriksen Norwegian owners, Vroon up their stakes in Deep Sea Supply. Eitzen offloads another oldie Cyprus-based Intergaz reported to be buyer of 1983-built LPG carrier. Cruise passengers die in bus crash Tragic accident in Chile leaves 12 Celebrity Cruises customers dead and another two seriously injured. Costs rise at Wan Hai Taiwanese boxship operator sees 2005 profit slip as vessel charter rates increase. Stena cuts Irish route Swedish ferry operator Stena Line blames rising bunker costs and competition from budget airlines for route reduction. Korean cargoship bombed Pong Su scuttled by Australian fighter jet after heroin-smuggling convictions. Shipping ' still a good bet? Andreas Sohmen-Pao talks up BW Gas as he tells investors what to look for in a company when putting their cash into shipping. Ship sales lift Lauritzen Profits from $213m in ship sales helps Danish shipowner to most profitable year in its history. Tanjung fixes anchor handler Malaysian offshore vessel operator wins two-year employment for ship from state oil concern.

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MARCH 23, 2006
COSCO names 9,500-TEU ship Fire blazing aboard Hyundai ship Jeb Bush opposes Gulf oil pipeline FedEx's 3rd-quarter profits up 33% Deutsche Lufthansa names Gemkow CFO YRC downgrades profit expectations No urgency to confirm Basham as CBP commissioner PricewaterhouseCoopers reports spike in economic crime EGL names Leonard CFO Deringer to host export compliance webinar Hellmann Perishable Logistics names VP U.S. trade rep outlines concerns over China in Shanghai speech Eurinpro building warehouse in Germany for Amazon DOT official: DP World controversy has freight policy silver lining

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MARCH 23, 2006
Swedish government identifies strategic ports and investigates pilotage The Swedish Government and its support parties, the Left party and the Green party, has presented a long-overdue transport ... Part-owned Wallenius company guilty of oily water dumping in US waters Singapore-based Wallenius Ship Management, WSM, 50/50-owned by Wallenius Marine and Singapore Shipping Corp, has in a US ... April tonnage remains firm in North Sea/Baltic Freight for both clean and dirty tonnage continued firm in he North Sea/Baltic area this week. In the clean ...

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MARCH 23, 2006
Maersk, Port of LA lease agreement falls apart Lease negotiations extending out until the end of '06 as environmental clauses becoming deal breakers. Fuel price inflation prompts cuts on Irish route Swedish ferry operator Stena Line announces cuts on one of its routes. Bunkers blamed as Q4 profits slump, outlook worsens Shipping company posts 15% decline in Q4 profits, and analysts predict tough 2006 after strong 2005 profits. Black Sea suppliers urged towards transparency & investment Speaking today at an industry conference, transportation department official urges bunker suppliers towards transparency and greater investment in bunker barges and equipment. Rotterdam opens quiet again Singapore: Plunge in stocks of residual fuels Japan: Nominations increase in Tokyo Bay Major supplier quoting for 180 cst stem sizes up to 700 mt. The Barrel Oil celebrates 15 years in Singapore Over the last 15 years, the company has supplied close to nine million mt of bunker fuel, and expansion plan is in the pipeline.