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Shanghai Port shares gain 3.3% on market debut
SHARES in China's biggest port rose 3.3 per cent on their Shanghai Stock Exchange debut yesterday, as investors bet the stock would become a key infrastructure play after it bought a cargo services unit in a US$1.1 billion deal.
CIMC's Q3 earnings jump 39% on strong sales
CHINA's CIMC, the world's biggest maker of shipping containers, said yesterday that third-quarter earnings jumped 39 per cent as increased sales offset a fall in profit margins.

Admiralty Casebook

Ship not responsible for gangway height
A SHIP receiving a pilot boat is not responsible for ensuring that its gangway is lowered to a safe height.

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Shipping News

Shanghai Port shares gain 3.3% on market debut
SHARES in China's biggest port rose 3.3 per cent on their Shanghai Stock Exchange debut yesterday, as investors bet the stock would become a key infrastructure play after it bought a cargo services unit in a US$1.1 billion deal.
CIMC's Q3 earnings jump 39% on strong sales
CHINA's CIMC, the world's biggest maker of shipping containers, said yesterday that third-quarter earnings jumped 39 per cent as increased sales offset a fall in profit margins.

Admiralty Casebook

Ship not responsible for gangway height
A SHIP receiving a pilot boat is not responsible for ensuring that its gangway is lowered to a safe height.

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China Cosco Holdings' Q3 box volume and revenue increases BNSF earns US$488m in Q3 on back of higher volumes, record freight revenues Malaysian Maritime president objects to UK security proposal Russia forces Oasis to cancel maiden flight DHL to build Chengdu Airport operations centre TNT appoints new head in Lion City to spearhead growth

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S.S. Rangnekar continues to steer AMTOI India, Canada discuss ways to expand trade Romania invites Indian investors Record single-day loading of CP coke at Vizag Port Higher Railways haulage rates Pvt. box operators see red at Rlys' policy changes Rail-related infrastructure open for private sector investments Transporting cars in containers by rail now makes sound business sense Exports accelerate by 41.2 pc in September Govt keen on reducing transaction costs Customs duty cut on palm oils till Dec. 31 Self-declaration of imports to replace export incentive scheme Diaspora enriches India by $ 22 bn Banks in SEZs need not pay service tax-CBEC Vijay Kalantri re-elected WTCA (NY) Board Director In Mumbai, Kamal Morarka remains WTC President

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Finnlines rejects Grimaldi takeover bid DHL and Polar to collaborate Emirates SkyCargo bolsters Bangalore capacities K+N accelerates growth

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OCTOBER 26, 2006
Teekay inks agreement with U.S. maritime union RAND: Maritime security about more than ports and boxes Finnlines Board rejects Grimaldi offer

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OCTOBER 26, 2006
IKEA buying Port of Tacoma land for new distribution center Neptune Orient Lines announces management changes NYK develops comic book to explain work onboard LNG carrier Port of Everett puts to work new electric GEM vehicle Passenger counts growing for North American cruise market

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Hanjin redelivers panamax boxships HANJIN Shipping is offloading up to eight panamax containerships that it has had on long-term charter for several years. Anger as master faces 10 years for quayside accident A GERMAN master jailed in the US and awaiting sentence of up to 10 years after a quayside worker was killed in an accident has become the focus of growing industry anger over the criminalisation of seafarers. Rokia Delmas: salvors to remove bunker oil Salvors expect today to begin removing the 560 tonnes of bunker oil aboard the CMA CGM ro-ro containership Rokia Delmas , which has been grounded near the island of R' off the French Atlantic coast port of La Rochelle since early Tuesday morning, writes Andrew Spurrier in Paris . Sembawang grabs drillship upgrade SEMBAWANG Shipyard has scored a goal against Pan-United Marine by winning a S$30m ($19m) upgrade to the Neptune Explorer drillship, write Martyn Wingrove and Marcus Hand. Chunnel operator's new debt solution CHANNEL tunnel operator Eurotunnel yesterday presented its creditors with a new "simple, balanced and realistic" plan for restructuring its £6.2bn ($11.7bn) worth of debt.

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OCTOBER 26, 2006
EMEC supports equivalent standards BRUSSELS 26 October - Mutual recognition of equipment gives class societies "the possibility of setting the highest safety standard for their certificates", believes the European Marine Equipment Council (EMEC), in contrast to the International Association of Classification Societies FAT chance for Brazil's cash crisis A CASH injection worth $500M from a workers' pension fund tackles the 'cash shortfall' that is hindering Transpetro's $2.1Bn, 26-vessel, fleet renewal pogramme LR's revenues boost LLOYD'S Register's marine revenues grew by 16% in the year to end-June, compared with the previous year, its annual report, published today, reveals Korea predicts strong dry bulk market THE last quarter of this year will see a very strong market for dry bulk shipping, Korea Maritime Institute predicts in its Shipping Market Forecast issued today Bibby bids for prison ship business BIBBY Line is one company planning to answer the UK government's call for ships able to accommodate prisoners BIMCO sets out pollution policy BIMCO warned yesterday that measures taken to reduce air pollution from ships should "protect the environment without disrupting international trade" Boxship could stay grounded for weeks Reliance denies product shortfall after fire Prodi calls for unified approach Sinegorye search cuts missing to three Tampa in trouble again Mexican maritime official jailed Pollution disaster averted HMM guards against takeover NOL appoints new CFO

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OCTOBER 26, 2006
Johnson is new Port of Miami director Dade County assistant manager had been serving as acting director since Charles Towsley left in June. U.S. steel imports fall Maersk Line upgrades U.S.-C. America service WTO probes China tariffs Lufthansa raises outlook China eyes trade deals Swift earnings nearly triple Customs Update: SAFE Act details India's SCI profit swells

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OCTOBER 26, 2006
SIPG shares show comparatively slow gain on Shanghai exchange debut Shanghai International Port Group saw its share price increase slightly, by 3.3%, on the first day of its listing on the Shanghai Stock Exchange, to RMB3.79 (US$0.48). Private Indian rail operations stalled as Industry Ministry highlights legal snag India's Industry Ministry has questioned the move to award licenses to private rail companies without amending the existing law that "mandates" only public sector undertakings to operate container trains. European Parliament tells Commission: "Come and get your money" Leaking container closes Brisbane terminal Lightering of Rokia Delmas' fuel and sea water from engine room to start Friday South Korean think-tank expects static Q4 rates on major trades Peak season effect and regulations revitalise China-Japan trade PAN's Boomerang won't come back Rotterdam refinances infrastructure investment Aker Yards container sector facing weaker outlook Steady Q3 growth for CPR intermodal International cargo drives Norfolk Southern intermodal business

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OCTOBER 26, 2006
Losses lash ISC Alabama-bound International Shipholding is losing money on its Lash ships and "evaluating strategic options". $64.8m? And so what? Great steaming mounds of net profit earn an "in line with expectations" yawn from Marc Saverys's CMB. Russian merger freeze Plans to bring Sovcomflot and Novoship together run into ministerial opposition. Good times for LR And it has not been such a bad time for classification society chief David Moorhouse either. Slump for Solvang Norwegian gas carrier player improves rates again, but nine-month financial income fails to match 2005's. Duo held in Canada Regal Agencies multipurpose and Hachiuma VLOC failed safety checks in August. Braemar yards ahead Heavy newbuilding activity in Far Eastern yards spells double delight for London shipbroker. VLCC sales continue Euronav sells Savoie for $40m more for than it paid for the tanker three years ago. 'Just a late spring clean' Goodwill impairment charge which led to drop in first-half earnings simply an ideal opportunity to tidy up for Braemar Seascope. Kirby breaks new ground US barge owner has another record set of results to brag about in first three quarters. Samsung nets record order Korean yard signs for $615m drillship in country's biggest ever single newbuilding deal. Naviera Murueta stumbles Spanish multipurpose owner sees nine-month profit eroded despite higher revenues. Bumpy patch for Aker Yards Norwegian shipbuilding giant hit by French yard over-capacity and ro-ro delays in third quarter, but overall profit trend is up. SCI soars in second Indian state shipowner bags big profit jump in second quarter as revenues rise. Braemar down under First-half result hit by goodwill impairment charge resulting from lost earnings from Australian dry cargo operation. Tampa in drug sting Wilhelmsen ro-ro caught in 2001 refugee standoff has been used to smuggle cocaine into Australia.

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OCTOBER 26, 2006
Maersk Line to add capacity to U.S. East Coast/Central America loop American Commercial Lines benefits from barge freight climb Seaspan to issue another 10 million shares Germanischer Lloyd moves office in Dalian Canada asks for opinions on "open skies" policy China orders 150 A320s from Airbus worth $10 billion Lufthansa's 3rd-quarter income down, upgrades outlook for full year China Airlines receives 20th Boeing 747-400 Freighter NWA Cargo to lower fuel surcharge Wash., Ariz., N.D. to lead the way on e-truck manifest Orris to retire from Pacer; 3rd quarter income up 25% Norfolk Southern's net income up 38% in record 3rd quarter Freightliner wins contracts from Hapag-Lloyd, MSC Rappoport quits BIFA Tacoma to host IKEA distribution center New portable radiation detectors to do cargo duty Logistics park planned near Kansas City U.S. Chamber hires transportation lobbyist IJS acquires Singapore forwarder Mach 1 tabs new president, secures credit line for expansion plans EIB loans Rotterdam Port Authority 100 million euros Peak season slows, but California vessel counts still set records Corps of Engineers grants Craney Island approval

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OCTOBER 26, 2006
Offshore boosts Transatlantic result Swedish Transatlantic reports a SEK 142 million pre-tax profit for the first nine months. All three divisions show a ... Board of Finnlines considers Grimaldi-offer too low Grimaldi Compagnia di Navigazione S.p.A. has made a voluntary public tender offer for all shares in Finnlines Plc. Grimaldi, which ... Scandlines sale coming closer Scandlines is very close to being sold, according to several press reports in Denmark. Two buyers have given their final ...

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OCTOBER 26, 2006
US East Coast avails tighten Resupply delays seeing firming prices as suppliers adjust numbers upwards. Oil majors' profits swoop and soar Exxon posting record returns, while Shell feeling pinch of lost production, and BP strong despite refining issues. Shipowners facing multiple risks in fuel purchasing Experienced US-based brokers set tone for Bunkerworld's New York forum with critique of new bunker landscape. IBIA speaks out against 'simplistic' IMO proposal IBIA sides with IBC on multifaceted shipping emissions approach, objecting to INTERTANKO's radical distillate proposal. ICS pleads for workable MARPOL Annex VI revisions Submission to IMO says reducing emissions from ships will require range of achievable measures, including SECAs and proven abatement technology. Prompt supply at discount in ARA market Singapore: Residual fuel stocks below 10 million barrels Stocks of residual fuels at lowest levels since December 2005, middle distillates up. SPC posts 78% drop in net profit Profit falls on weak refining margins and crude oil prices. Titan opens new multi-million oil terminal in China Nansha oil storage terminal is the largest independent facility in southern China, costing more than $250 million.