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.
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.
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.
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.
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
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
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
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 ...
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.
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