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Shipping News

Ship finance scheme offers good tax breaks
HOPING to capture a slice of the annual global US$300 billion ship financing pie, Singapore has released details of the earlier announced scheme of tax breaks, the Maritime Finance Incentive , which include life-long tax exemptions for vessels acquired by approved ship investment vehicles.
AP Moeller-Maersk cuts 2006 profit outlook
AP Moeller-Maersk A/S, the world's biggest container shipping company, cut its outlook for 2006 profits on Tuesday in part due to falling freight rates, sending its shares sharply lower.
Focus on post-terror-attack economic revival: US ports study
THERE is no foolproof way to secure America's seaports against terrorism, so the government should focus more time and money on plans to

Logistics

Birkart Globistics' 2005 profit jumps 47%
INTERNATIONAL logistics firm Birkart Globistics air + ocean has announced that it has seen healthy profit margins for the financial year 2005.
New website checks up on major shippers
PACKAGE shipping firms have long resisted the destructive, Internet-inspired price wars that pushed passenger airlines to slash prices below the break-even point.

Port Shots

Port Shots
FRONTLINE Ltd, the world's largest tanker company by capacity, said it ordered four very large crude carriers, or VLCCs, for an undisclosed amount from Jiangnan Shipyard Group Co of China.

web site

Shipping News

Ship finance scheme offers good tax breaks
HOPING to capture a slice of the annual global US$300 billion ship financing pie, Singapore has released details of the earlier announced scheme of tax breaks, the Maritime Finance Incentive , which include life-long tax exemptions for vessels acquired by approved ship investment vehicles.
AP Moeller-Maersk cuts 2006 profit outlook
AP Moeller-Maersk A/S, the world's biggest container shipping company, cut its outlook for 2006 profits on Tuesday in part due to falling freight rates, sending its shares sharply lower.
Focus on post-terror-attack economic revival: US ports study
THERE is no foolproof way to secure America's seaports against terrorism, so the government should focus more time and money on plans to

Logistics

Birkart Globistics' 2005 profit jumps 47%
INTERNATIONAL logistics firm Birkart Globistics air + ocean has announced that it has seen healthy profit margins for the financial year 2005.
New website checks up on major shippers
PACKAGE shipping firms have long resisted the destructive, Internet-inspired price wars that pushed passenger airlines to slash prices below the break-even point.

Port Shots

Port Shots
FRONTLINE Ltd, the world's largest tanker company by capacity, said it ordered four very large crude carriers, or VLCCs, for an undisclosed amount from Jiangnan Shipyard Group Co of China.

web site

Shipping News

Ship finance scheme offers good tax breaks
HOPING to capture a slice of the annual global US$300 billion ship financing pie, Singapore has released details of the earlier announced scheme of tax breaks, the Maritime Finance Incentive , which include life-long tax exemptions for vessels acquired by approved ship investment vehicles.
AP Moeller-Maersk cuts 2006 profit outlook
AP Moeller-Maersk A/S, the world's biggest container shipping company, cut its outlook for 2006 profits on Tuesday in part due to falling freight rates, sending its shares sharply lower.
Focus on post-terror-attack economic revival: US ports study
THERE is no foolproof way to secure America's seaports against terrorism, so the government should focus more time and money on plans to

Logistics

Birkart Globistics' 2005 profit jumps 47%
INTERNATIONAL logistics firm Birkart Globistics air + ocean has announced that it has seen healthy profit margins for the financial year 2005.
New website checks up on major shippers
PACKAGE shipping firms have long resisted the destructive, Internet-inspired price wars that pushed passenger airlines to slash prices below the break-even point.

Port Shots

Port Shots
FRONTLINE Ltd, the world's largest tanker company by capacity, said it ordered four very large crude carriers, or VLCCs, for an undisclosed amount from Jiangnan Shipyard Group Co of China.

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The world's largest containership calls at Tianjin Cosco Pacific forms JV to operate berth at Ningbo's Beilun box terminal China to cut import tariffs on products from 6 nations plus HK, Macau NYK to launch two new Asia services: TWX, MAX Northport takes the lead in service connectivity in Malaysia Nigerian importers fear bankruptcy as Lagos congestion continues Korean Air Cargo retains number one ranking BA targeted for price fixing India offers exporters of perishable goods assistance to pay airfreight fees

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Textainer to manage Gateway's container fleet; pact signed White shirts dazzle Americans FCI allowed to import another 1 m tonnes of wheat Duty-free import of sugar allowed Nafed invites bids for import of Lankan vanaspati 5-year iron ore export deals signed with Japan, S. Korea Lentil exports to Bangla halted Iron ore exports up by 15 pc Pendency of ICD containers at JNP fast dwindling Kandla Port gets a mighty lift! Issues of SEZs' viability spring into focus at MEDC seminar Here come the Indian MNCs!

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JUNE 28, 2006
Monika Ribar appointed CEO of Panalpina ABP appears set for Goldman Sachs purchase DHL signs agreement with Transmile for Asia-Pacifc region Schneider and KCSR start Ohio Valley train service in USA Röhlig doubles net profit in 2005 Alleged cartel activity by BA

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JUNE 28, 2006
Box slump hits Maersk Frontline profits on resales, adds newbuilds American P&I Club checks passenger ships Safmarine ship aground Panama Canal plan gets government approval Mixed results for Marseilles

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JUNE 28, 2006
Bollinger to build LCS Port security focus should be on recovery

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JUNE 28, 2006
Oregon Governor promotes state during trade mission to Korea, Japan Panama President, Cabinet give Ok to expansion project Horizon Lines backing Caribbean Warrior solar vehicle Steel imports into US jump seven percent for May Marine Transport Corp. moving to new offices

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Top Tankers quizzed by US regulators TOP Tankers has received informal inquiries from US regulators concerning its ship acquisitions, the company said while launching an 'at the market' sale of new shares worth $19.5m. Maersk bolsters boardroom team after box profit warning AP Moller-Maersk has reshuffled and strengthened top management ahead of the eventual retirement of chief executive Jess Søderberg. Wiernicki trump card in ABS pack reshuffle A SWEEPING management reshuffle at American Bureau of Shipping sees Christopher Wiernicki designated as president and chief operating officer and Rear Admiral Thomas Gilmour of the US Coast Guard drafted in as president of ABS Americas, writes Rajesh Joshi in New York. Costamare in first Chinese post-panamax export orders GREEK container vessel specialist Costamare Shipping has returned to the shipyards with what looks certain to be the first deal for post-panamax containerships ever awarded to a Chinese shipyard by foreign owners.

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JUNE 28, 2006
Calcasieu impact hits oil reserves IMPACT from the oil spill in Louisiana's Calcasieu Ship Channel continues to grow as refineries are tapping strategic reserves, gasoline prices are rising and stocks are flat SEC probing Top Tankers NASDAQ-listed Top Tankers has confirmed that it is under informal investigation by the US Securities & Exchange Commission Shays targets cruise crime THE Cruise Line Accurate Safety Statistics Act has been drafted, representing the first legislative fallout from the "man overboard" media frenzy Bush nominates for MarAd again VIRGINIA lawyer and republican stalwart Sean T Connaughton is being nominated by President Bush to head the US Maritime Administration UK's MCA looks at overseas presence THE UK's Maritime and Coastguard Agency is moving its corporate structure to match the needs of its customers, which will probably mean opening offices overseas Cruising down under uncovered THERE has been further unwanted publicity for P&O Cruises Australia stemming from the coronial inquiry into the suspicious death of a passenger Adsteam lands emergency tow contracts Japan awaits liner competition decision Maersk weakness brings APM warning Stena confirms ro-ro lengthenings US laws alarm Canadian trade Malaysian coastguard takes to the water

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JUNE 28, 2006
Connaughton tapped for Marad post The White House announced that President Bush will nominate Washington maritime attorney, Coast Guard veteran to head Maritime Administration. LA truckers say PierPass program helping New chief for China Shipping JoC schedules 4th Short Sea Shipping Conference Portland boxes surge UPS in U.S. mail pact Asian shippers hit THCs, security charges WTO chief challenges ministers to make deal May steel imports cool New CEO for Panalpina New managers for TT Club Lufthansa partners on German cargo venture

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JUNE 28, 2006
Maersk refutes claims that Asia-Europe rate crash was its doing Maersk Line has denied that its attempts to maintain market share were a major cause of the crash in Asia/Europe rates and a contributor to its own reduced income forecast. Maersk now target as MSC reaches Noumea settlement New Caledonia's USTKE union is turning its attention to Maersk after striking an agreement with MSC, facilitated by the French Ministry of Transport, for continuing calls at Noumea. Broker: charterers to ignore profit worries in bid to keep market share Delhi mulls sale of CONCOR shares Patrick Shipping on the market Big box loss for small UK port of Goole New feeder service to boost India's coffee export Fortaleza wins back CMA CGM

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JUNE 28, 2006
TOP down Shares drop 9% on news of shares issue, SEC inquiry and earnings downgrade from Cantor Fitzgerald. Tanker grounds in Venezuela Lake Maracaibo shipping channel reopens but Greek handymax tanker remains stranded. TOP under SEC inquiry US regulators want to know about vessel buys made since 2004 and events surrounding March sale-leaseback and dividend payout. Container rates to blame UBS says Maersk profit warning shows rates have dropped 12% this year, as it places group's price target under review. Grimaldi ups stake in Finnlines? Mystery buyer picks up 2.4m shares in Finnish ro-ro operator worth an estimated EUR 65m. No thank you No surprises, Global Oceanic Carriers' new owners bin expansion plan of predecessors as Tartsinis is confirmed new chief exec. Neste takes three from TEN Nick Tsakos' outfit ties up ice-class aframaxes bought from Western Petroleum with Finnish oil company. Stowaways returned to Philippines Japan-bound reefer turns back to Davao after three Bangladeshi stowaways found onboard. PacBasin buys again Another handymax bulker for Hong Kong-listed Pacific Basin to add to 52,400-dwt unit from Magsaysay Lines. Rates slide at NOL Singapore liner operator sees average revenue per feu slide for third consecutive trading period. Frontline orders two more Jiangnan Shipyard of China gets two more firm VLCC orders from Frontline with a pair of options to boot. Stena plans jumboisation Europe's largest ferry operator is to lengthen two of its North Sea ferries at a cost of EUR100m. Concordia inks Lukoil deal Russian charterer will take two VLCCs from end-2007 after Sunoco charters expire. COSCON offloads two Cosco Container Lines selling two ships to parent and taking them back for three years. CNCo confirms collision Four said to be dead after Hong Kong-flagged multi-purpose vessel collides with Chinese naval ship.

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JUNE 28, 2006
A.P. Moller lowers 2006 profit expectations, shares slide 9% Bush to nominate Connaughton as maritime administrator House approves $8.7 billion Coast Guard reauthorization COSCO parent orders eight 5,100-TEU ships from Chinese shipyard U.S. provides grant to Vietnam Customs' electronic manifest pilot Alaska Airlines to unveil 737-400 cargo plane Porsche to use rail transport for Finnish deliveries Home Depot veteran Hakala to join PWC Logistics IKEA to build logistics hub at Fos Panalpina gives top job to Ribar FMC reviews 13 OTI applications, revokes 13 licenses Panama Canal expansion passes another hurdle California shipyard launches "USNS Sacagawea" Marseilles-Fos' box volumes up 2% Small Oregon port joins APP

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JUNE 28, 2006
Stena Line jumboizes ro-pax ferries Stena Line announces an investment of EUR 100 million to increase the capacity of its two ro-pax vessels on ... Stena Line plans withdrawal of fast ferry Due to high bunker costs, Stena Line has plans to withdraw the high speed ferry "Stena Discovery" from service during ...

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JUNE 28, 2006
Houston firms on quiet trading Gulf port back at $300 with below average demand and bullish crude. New ship fuel rules for LA, Long Beach Details of new cooperative approach revealed, including far-reaching fuel restrictions. DOE: US stocks of crude and gasoline drop Latest US oil inventory report shows draw in crude and gasoline stocks. Environmental watch around grounded ship Powerful salvage tug headed for container vessel grounded just outside East London. Fuel specialities firm to boost production Expansion of German plant will raise output of Ferrocene, a component of products claiming to improve combustion and reduce emissions. Rotterdam market mute as figures firm Singapore bunker players agree on Q3 term barrel premiums Players agree on premiums of $3-6 pmt over MOPS 380 cst assessments for term cargoes in Q3. Oil prices rise above $72 Oil prices gain on US refinery disruption, strong energy demand from China. Hong Kong: ExxonMobil looking to supply 500 cst The company plans to introduce 500 cst into the market between September and December this year.