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Shipping News

Shipowners cut spending on new vessels
SHIPOWNERS spent US$71.5 billion on new vessels last year, 6.3 per cent less than in 2004, as record prices curbed orders for container ships, dry-bulk carriers and tankers, said Clarkson plc, the world's biggest shipbroker.
Hyundai Merchant's Q4 profit drops 11%
HYUNDAI Merchant Marine Co, South Korea's second-largest shipping line, posted an 11 per cent fall in fourth-quarter profit, largely due to higher oil prices.
HK line Orient Overseas' Q4 sales growth slows
ORIENT Overseas Ltd, which operates Asia's seventh-biggest container shipping line, said fourth-quarter sales at the unit rose 2.2 per cent, a slower rate of growth as it filled less cargo space.
Persian Gulf oil tanker rates hit 8-week high

Admiralty Casebook

Loss of market value adequate proof of cargo damage: US appeals court
A US appeals court ruled last month that loss of market value was by itself adequate proof of cargo damage to establish a prima facie case of liability against a shipowner under the US Carriage of Goods by Sea Act.

Port Shots

Port Shots
DAEWOO Mangalia Heavy Industries SA, the Romanian unit of South Korea's Daewoo Shipbuilding & Marine Engineering Co, won the bid to buy Santierul Naval Mangalia, a state-owned Black Sea shipyard, the Romanian government said.

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Shipping News

Shipowners cut spending on new vessels
SHIPOWNERS spent US$71.5 billion on new vessels last year, 6.3 per cent less than in 2004, as record prices curbed orders for container ships, dry-bulk carriers and tankers, said Clarkson plc, the world's biggest shipbroker.
Hyundai Merchant's Q4 profit drops 11%
HYUNDAI Merchant Marine Co, South Korea's second-largest shipping line, posted an 11 per cent fall in fourth-quarter profit, largely due to higher oil prices.
HK line Orient Overseas' Q4 sales growth slows
ORIENT Overseas Ltd, which operates Asia's seventh-biggest container shipping line, said fourth-quarter sales at the unit rose 2.2 per cent, a slower rate of growth as it filled less cargo space.
Persian Gulf oil tanker rates hit 8-week high

Admiralty Casebook

Loss of market value adequate proof of cargo damage: US appeals court
A US appeals court ruled last month that loss of market value was by itself adequate proof of cargo damage to establish a prima facie case of liability against a shipowner under the US Carriage of Goods by Sea Act.

Port Shots

Port Shots
DAEWOO Mangalia Heavy Industries SA, the Romanian unit of South Korea's Daewoo Shipbuilding & Marine Engineering Co, won the bid to buy Santierul Naval Mangalia, a state-owned Black Sea shipyard, the Romanian government said.

web site

Shipping News

Shipowners cut spending on new vessels
SHIPOWNERS spent US$71.5 billion on new vessels last year, 6.3 per cent less than in 2004, as record prices curbed orders for container ships, dry-bulk carriers and tankers, said Clarkson plc, the world's biggest shipbroker.
Hyundai Merchant's Q4 profit drops 11%
HYUNDAI Merchant Marine Co, South Korea's second-largest shipping line, posted an 11 per cent fall in fourth-quarter profit, largely due to higher oil prices.
HK line Orient Overseas' Q4 sales growth slows
ORIENT Overseas Ltd, which operates Asia's seventh-biggest container shipping line, said fourth-quarter sales at the unit rose 2.2 per cent, a slower rate of growth as it filled less cargo space.
Persian Gulf oil tanker rates hit 8-week high

Admiralty Casebook

Loss of market value adequate proof of cargo damage: US appeals court
A US appeals court ruled last month that loss of market value was by itself adequate proof of cargo damage to establish a prima facie case of liability against a shipowner under the US Carriage of Goods by Sea Act.

Port Shots

Port Shots
DAEWOO Mangalia Heavy Industries SA, the Romanian unit of South Korea's Daewoo Shipbuilding & Marine Engineering Co, won the bid to buy Santierul Naval Mangalia, a state-owned Black Sea shipyard, the Romanian government said.

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PSA tops DP World's bid for P&O Ports Grand Alliance upgrades service offerings Toll refuses to let ACCC's concerns about Patrick bid bother it LA sees 2005 box volumes rise 2.23pc, Long Beach containers up 16pc MOL Logistics launches Chinese language website FedEx Express to buy China's DTW Group for US$400m New Macau low-cost carrier to begin services in Q4 Northwest tells bankruptcy court that labour cost savings essential

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Allcargo Global Logistics raises stake in ECU Hold NV to 49.99 pc MOL adds ships to Indian Ocean consortium Varun Shipping posts 127 pc rise in Q3 net profit Lloyd's List to organise conference on manning & training in India IPBCC announces rate restoration in westbound trade PM agrees on task force to scrutinise exporters' problems, suggest solutions Ficci calls for unified, comprehensive duty drawback scheme PHDCCI stresses need for simple, transparent & exporter-friendly duty neutralisation scheme 100 pc FDI via automatic route to be allowed in export trading CCEA gives approval to Rs 2,000-cr. National export Insurance account Textile export target raised to $ 85 bn Govt to ease textile machinery import norms KPT formulates ambitious expansion plan to meet demands of booming trade Planners insist on Major Port Trusts sharing capital dredging costs CONCOR, IRCON to join hands to operate port-related infrastructure on foreign soil Assocham goes global CBDT set to free banks of collating TDS exemption data

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JANUARY 26, 2006
Port of Rotterdam Authority appoints financial director Another record year for Eurogate Alitalia to take over Volare NYK launches new inland intermodal services to and from Amsterdam FedEx Express buys express company DTW in China

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JANUARY 26, 2006
P&O board accepts PSA offer Enel charters K Line bulker CKY slots charters on MSC's Europe-US Gulf service AMB buys Hamburg cargo facilities Intertanko and Intercargo join Danish pilotage initiative North of England advises on letters of indemnity Strike hits Marseille but oil pushes up figures LR buys German consultant Gladstone bunker spill

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JANUARY 26, 2006
Milestone for first National Security Cutter Noble guarded on plans for Smedvig stake Songa Offshore lists on Oslo exchange Kirby reports record quarter Promotion at Crowley

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JANUARY 26, 2006
Carlile Transportation Systems moves operations to Port of Tacoma Grand Alliance carriers plan to expand service levels Coast Guard responds to fire at Columbia River Yacht Club Greenbrier buys equipment from YSD Industries Crowley taps Joel Klenck as ship assist/escort services VP

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Dubai Ports World set to trump PSA's offer for P&O A SWIFT response to PSA International's recommended £3.54bn ($6.7bn) bid for P&O is expected from Dubai Ports World, whose initial offer has triggered a bid battle for the prestigious British ports and ferries group. Frontline's stake in Genmar rises to 11.25% after share re-purchase JOHN Fredriksen's Frontline has increased its stake in General Maritime - without spending a cent - and continues to eye its rival as a potential takeover target. Opec chief backs status quo ORGANISATION of Petroleum Exporting Countries president Edmund Daukoru thinks the cartel will keep production quotas level at its meeting next week, writes Martyn Wingrove. Repsol cuts reserves by a quarter SPANISH oil major Repsol YPF slashed it oil and gas reserves by 25% yesterday, in a move that is expected to reduce net profit for 2006 by up to €170m ($208m), writes Brian Reyes in Gibraltar. Brit's Dane Douetil to lead Lloyd's reforms LLOYD'S and the London insurance market has moved quickly to appoint a new chairman for the Market Reform Group, hard on the heels of Lime Street axeing the faltering Kinnect electronic project.

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JANUARY 26, 2006
NEWSFLASH: Dubai ups bid for P&O IN A late-night swoop, DP World has upped its offer for P&O to 520 pence, trumping PSA International's earlier bid of 470 pence Frontline's inside job on Genmar FRONTLINE has reiterated its hope to acquire control of General Maritime, while its stake in GenMar has crept above the 10% threshold, making it a GenMar 'insider' Pilotage clause for Danish Strait TANKER operators' forum Intertanko is encouraging the use of a new 'Danish Strait' pilotage clause for inclusion in trip- and timecharter contracts Portia close to Trinidad deal PORTIA Management Services will take over the management of the Port of Spain having signed a Heads of Agreement with the Port Authority of Trinidad and Tobago Grand Alliance boosts Ceres throughput Stowaway 'killers' back in court German owner pioneers towing kite HMM blames currency for slump CKY charters MSC slots to US Gulf India investigate casualties Dilemma for DP as P&O tops 500p QM2 action in court and on board 20% raise for Indian officers New cruise terminal for Liverpool

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JANUARY 26, 2006
DP World tops PSA bid for P&O New bid by Dubai government trumps earlier offer of $6.4 billion by Singapore's PSA International for British ports and ferries group. WSC's Koch says better import data needed UPS sees jump in profit Dispute threatens NY cocoa deliveries Rutledge joins GreenLine Systems Kirby earnings soar CNF 4Q profit up Eastern Car Liner charters U.S. Gulf-S. America slots New Vancouver rail pact LAN Cargo appoints CEO

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JANUARY 26, 2006
Ban on container traffic boosts charges at Sydney Harbour Shipping lines using Sydney Harbour were shocked by new towage fees to be imposed by Adsteam Harbour from March 1 and the forecast of even higher charges in the future. Singapore closes in on US$3bn Qatar deal MSC to add Colombo to ANZ-Euro service Chief of Switzerland's SBB up-beat about European intermodal traffic Imbituba expansion under way Hamburg expects record volumes again in 2006 Panalpina plans significant Indonesian growth India to consult on transport Act NYK to boost terminal's hinterland connections OOCL 2005 growth slows Hyundai Merchant Marine announces 2005 results Transport MEPs protest '13bn cut in Trans-European Network budget Concor eyeing foreign projects

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JANUARY 26, 2006
Belgians bulk up CMB scores $54m fourth quarter and $206m for all of 2005 despite weakening dry cargo market. Two more held over OWS Toepfer-managed containership and NCC chemical tanker held last month over oily-water separator problems. Freddie in a fix? Frontline will be considered Genmar 'insider' for purposes of SEC, could face tougher trading, reporting rules. Barclays stays big Overseas Shipholding Group's top institutional investor remains hot on tanker giant's stock. Scrapper undeterred An Indian shipbreaker remains committed to starting up a scrapyard in the US Pacific Northwest for the US 'ghost fleet'. Quartet detained in Canada Shih Wei, Cosco Shanghai, Harbor Shipping and Fleet Management vessels crop up on December list. Varun looks overseas Yudhishthir Khatau warns that high Indian taxes may drive shipowners to healthier fiscal climates. Bluewater profit soars Newly listed marine insurer stays on course and is upbeat about the outlook. Tidewater triples profits Revenues and earnings grow for New Orleans offshore operator. Keppel keeps on growing Rig orders drive leap in fourth-quarter profits though group warns 20% annual growth set to fall. Haywire Point Second accident in a month at Aussie coal terminal causes more delay and lands BHP-Mitsubishi with huge demurrage bill. Chukoku funds gas newbuild Okayama-based bank teams up with STB Leasing and Tokyo Star to finance local owner. Sovcomflot adds products trio Series of MR tankers grows to nine at Admiralty shipyard as Russian owner confirms long-mooted order. Kirby at record high US oil barge giant posts best ever annual profit for 2005 and expects better again this year. P&O jilts Dubai UK ports and ferries group accepts higher takeover offer from Singapore's PSA, leaving bidding war possible as DP World mulls options. P&O sure PSA can deliver Chairman Sir John Parker likes Singapore group's commitment to retain existing management and employees after takeover. HMM profit sinks Higher bunker prices and trading downturn hits diversified South Korean shipping group. Forbes expands marine arm London insurance broker appoints rival Willis' Peter Hall as executive director. Growth slows at OOCL Liner operator sees revenues and volumes ease off in the fourth quarter compared to the whole of 2005. Cosco Shipyard inks orders Chinese shiprepair group off to strong start in 2006 with newbuilding and repair deals worth $13m.

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JANUARY 26, 2006
"K" Line, Yang Ming to start Asia/Mediterranean service MSC to increase capacity in transpacific Adrion joins TUI's executive board Hamburg Sud, CCNI to share space in U.S./South America service CMA CGM to charter slots on COSCO's China/Long Beach ships Eastern Car Liners to take slots from Industrial Maritime Carriers ANL selects MacAndrews as U.K. agents Crowley Maritime promotes Klenck to VP of tug services Grand Alliance completes post-P&O Nedlloyd network adjustments Paris MOU sets vessel pollution inspections Coast Guard raises entry conditions for ships calling Equatorial Guinea Hanjin opens new Belgium office UAL Corp. selects Nasdaq for new listing Schneider economist warns of severe recession, truck shortage BNSF sets $2.4 billion capital spending budget for 2006 CN's net income up 14% in 4th quarter CSX's 4th quarter profit up 49% CNF posts 59% rise in 4th-quarter net income BNSF's 4th-quarter earnings up 24% Mead to step down as DOT inspector general Moorman to replace Goode as Norfolk Southern's chairman NEMF trucking promotes Nallen Taiwan reopens market to U.S. beef imports Serrano resigns as EGL CFO Metals logistics firms merge marketing services Odyssey Logistics opens service center in Charlotte Shippers to push for freight policy during White House visit Bush administration reaffirms to Japan that American beef is safe U.S. ends property rights investigation against Pakistan OH Logistics names Weaver to head acquisitions JPMorgan Chase Vastera updates compliance software MOL Logistics (Japan) adds Chinese Web Site Held resigns as Schenker's chairman FMC reviews 2 OTI license applications PSA makes formal $6.33 billion offer for P&O Strikes halt Marseilles-Fos' box volume growth Prince Rupert Port terminal upgrade approved

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JANUARY 26, 2006
MS "Jupiter" chartered by Statoil Norwegian passenger/ferry MS "Jupiter" formerly with Fjord Line, but which now belongs to Troms Fylkes Dampskibsselskap (TFDS) and Fjord ... Color Line buys terminal preference Norway's biggest passenger/ferry operator Color Line buys preference to the ferry terminal in Kristiansand in South Norway to the ... Paris MOU to focus on oil spill requirements The 22 port states of the Paris MOU will lauch a concentrated inspection campaign to check how requirements for preventing ...

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JANUARY 26, 2006
Barge operator posts record result Gulf barge company announcing 39% profit increase for 2005, shaking off hurricane season woes. Five new companies join Russian Bunker Association The Russian Bunker Industry Association has informed Bunkerworld of the minutes of its latest general meeting, held yesterday. SPC 2005 profits surge 60% on record sales SPC benefited from increased product sales and strong refining margins in 2005. Gladstone bunker spill could cost millions The cost of what is described as Gladstone's worst oil spill in over 30 years could run into millions. South Korea forecasts continued oil demand growth The South Korean government projects continued oil demand growth in 2006, with shipping fuel consumption playing a part. Rotterdam/Antwerp trade market quite at midday Singapore: Dip in residual fuels, sharp fall in distillates Onboard MariNOx system reaps fuel savings Trials confirm that onboard NOx and CO2 monitoring system helps to save on fuel consumption.