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Shipping News

NOL to grow network of terminals, may expand to Europe
NEPTUNE Orient Lines is aiming to expand its network of nine terminals, including the possible establishment of terminals in Europe, after it recently announced its first China facility in Qingdao.
Q3 profit of Msia's MISC jumps to RM944.5m
MALAYSIA's MISC Bhd, the world's biggest owner of liquefied natural gas tankers, said third-quarter profit rose helped by ship sales and demand for oil and gas facilities.
Sea freight futures seen growing to US$150b in 5 years
THE global sea freight derivatives market could grow to around US$150 billion in the next three to five years, but issues over transparency and liquidity continue to frustrate expansion, market participants say.

Admiralty Casebook

Fire-fighting system on ship rendered virtually useless
A SINGAPORE-flagged vessel had its Halon 1301 fixed fire extinguishing system rendered virtually useless during an engine room fire two years ago because the fire had prevented the crew from shutting off the ventilation opening to the engine room.

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Shipping News

NOL to grow network of terminals, may expand to Europe
NEPTUNE Orient Lines is aiming to expand its network of nine terminals, including the possible establishment of terminals in Europe, after it recently announced its first China facility in Qingdao.
Q3 profit of Msia's MISC jumps to RM944.5m
MALAYSIA's MISC Bhd, the world's biggest owner of liquefied natural gas tankers, said third-quarter profit rose helped by ship sales and demand for oil and gas facilities.
Sea freight futures seen growing to US$150b in 5 years
THE global sea freight derivatives market could grow to around US$150 billion in the next three to five years, but issues over transparency and liquidity continue to frustrate expansion, market participants say.

Admiralty Casebook

Fire-fighting system on ship rendered virtually useless
A SINGAPORE-flagged vessel had its Halon 1301 fixed fire extinguishing system rendered virtually useless during an engine room fire two years ago because the fire had prevented the crew from shutting off the ventilation opening to the engine room.

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NOL 2006 net profit plunges 57pc Evergreen upgrades online reporting services HK hosts terminal operations conference and exhibition Shortage of sailors becomes acute for Korean lines DHL to invest heavily in the Middle East Seattle extends benefits to Teamsters' domestic partners Airbus to lay off 10,000 in massive corporate restructuring Malaysia Airlines back in the black in 2006 Qantas turns to GEnx engine for its 787 fleet

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Aaras Container Line inks NVOCC agency pact with Aaras Shipping & Logistics RFL deftly executes project cargo delivery in record time Eagle Maritime Group adjudged second best supporter of CSAV Zim opens own office at vizag ABG Shipyard delivers AHTS vessel to UAE co. GE Shipping takes delivery of product tanker S. S. Hussain appointed JNPT Chairman Import duty waiver slashes capital dredging costs Jumbo (BCN) rakes at CONCOR's DRT CFS attract huge trade support 5 more years for textile cos to avail of technology upgradation fund scheme Orissa unveils new policy to attract industries Karnataka to set up SEZs in Tier-II cities Economic thrust was vital-says IMC chief SAD departure to make edible oils cheaper Infrastructure development proposals innovative, feels CII chief Fieo identifies positive aspects Excise sop to SSIs inadequate-AIAI CIAe cites cause for concerns MAIT chalks IT up

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MARCH 1, 2007
Samskip boosts its coverage of the Baltic and North Sea Fraport wants to save Neuss-Düsseldorf ports witness increasing throughput Correos opened new sorting and distribution centre

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MARCH 1, 2007
Interferry offers assistance to Indonesia Golden Ocean profit down Panama Canal gets busier Strong Q4 for Golar

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MARCH 1, 2007
Foss Maritime to build hybrid tug Aker Innovation formed to eye new projects Austal confirms ten ferry order from Macau TBS orders tweendeckers in China Rochester fast ferry on the move Panama Canal demand grows

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MARCH 1, 2007
Bunker fuel spill reported at Port of Seattle grain terminal Panama Canal Authority releases first quarter numbers Overseas Shipholding looks to buy lightering business from Heidmar NAFTA partners see decline in surface transportation totals New academic dean appointed at US Merchant Marine Academy

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Greeks splurge on capesize newbuilds GREEK owners close to finalising a $1bn binge of capesize newbuilding orders. Survey points to Greek flag recovery Report sparks off heated debate at Erika trial CIVIL claimant and defence lawyers trade blows after report shows BP declined to approve vessel for its use. Golar eyes logistics spin-off JOHN Fredriksen's company is considering spinning off its logistic investments and projects into a separate company.

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MARCH 1, 2007
Indonesia targets lax ferry safety JAKARTA 01 March ' Indonesia's president, Susilo Bambang Yudhoyono, has warned ferry operators there will be stricter penalties for lax safety practices NEMO ' the new French weapon CMA CGM Australia's apparently premature 'new service' announcement has left New Zealand service partners shell-shocked and apparently even surprised the Line's HQ Golden Ocean upbeat on more Chinese growth FREDRIKSEN-controlled dry bulk shipping venture Golden Ocean has reported a 2006 profit less than that of 2005, but retains an optimistic outlook based on growth in China MCA takes on new SAR helicopters THE UK's Maritime & Coastguard Agency is upgrading its search and rescue operations by taking delivery of new S-92 Sikorsky helicopters Fish 'n ships talks 'positive' THE strong feelings of the Shetland Islands' fish industry about NorthLink Ferries following last week's delays have been eased after talks between the two parties Ship sale keeps Birka in black Passage plans must be monitored Grounded bulker off Baltimore House approves investment bill Eagle Bulk flies higher CSAV posts $58M loss for 2006 Golar 4Q soars on rate spike CMA CGM takes Cheng Lie FFA loss hits DryShips Macquarie and Hochtief vie for HHLA

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MARCH 1, 2007
California to get new container fee bill Activist politician Lowenthal plans to re-introduce a bill calling for a $30 per-box fee to help pay for pollution-reducing measures in California. Senate rejects scan-all container proposal Matson, J.B. Hunt partner on guaranteed China services ILA, Evergreen agree on port captains' contract Rotterdam hit by protest Dominican Republic joins CAFTA South Atlantic Chassis Pool adds locations Seagirt tops mark ANL returns to Europe DP World out of Hamburg stevedore bidding CMA CGM makes offer for Taiwan carrier

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MARCH 1, 2007
Interview: CMA CGM expects to earn back cost of Cheng Lie acquisition in five to six years CMA CGM, which offered to acquire Taiwan's Cheng Lie Navigation (CNC) yesterday, is confident of recovering its $T5.2bn (US$158m) investment and profiting from the business within five to six years. Only Macquarie and Hochtief left on HHLA stake shortlist The Hamburg Senate confirmed today that 49.9% of HHLA would go to either Macquarie or Hochtief, following exclusion of the other pretenders, although the IPO option is still open. Smit Rotterdam harbour towage strike continues past initial 24 hours APMM's Odense yard tried to secure orders from Maersk competitors US House passes bill on foreign takeover vetting Hamburg Sud's Trident goes weekly China Shipping suspends share trading for multi-modal co-operation announcement Slow volume growth holds back Jakarta port investment HMM and Heung-A to add Colombo to CIX service AAL revises Asia-Australia services Bangladesh adviser regime decides on New Mooring privatisation Maersk moots direct calls at projected Cai Mep deepwater port

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MARCH 1, 2007
Why TK is more than OK Veteran analyst says Teekay Shipping -- or is it Teekay Corp? -- has left behind its former peers in the tanker sector and deserves to be treated better. Eagle raises $102m Dry bulk operator prices secondary shares offering at $18.95, market sources indicate. Samudera sings the blues Indonesian liner and tanker player hit by higher costs and lower freight rates in 2006. SSW continues to fall Investors slice another chunk off Seaspan's share price as it unveils a full-year profit of $35m. Bulker grounds off US Baumarine-chartered panamax loaded with coal stranded in Chesapeake Bay as officials wait for high tide to re-float. Platou snaps up more ACM Oslo broker now holds nearly 6.5% of its London counterpart. Norwegian ship leaks in Elbe Rapid response from German authorities as heavy fuel oil leaks from chemical tanker in River Elbe. Palmali back at Russian yard Turkish owner order series of 10 small tankers at MNP Group's Krasnoye Sormovo. AAS still waiting for returns Annual revenues kept to a minimum at Aker American Shipping as it waits for OSG ships to roll out of yard. Hang on! JP Morgan docks Ship Finance recommendation after Frontline plan to offload remaining stake. Nepline losses widen Higher costs and lower revenues hurt Malaysian tanker owner in 2006. Duo bail out Viktor Lenac Uljanik and Tankerska Plovidba to become shareholders in bankrupt Croatian yard after debt deal. Olsen upgrades FSO Knock Nevis is set to take on 450,000 barrels/day as Maersk ramps up Qatar activity. Ocean Tankers reverses loss Cypriot-listed tanker owner says goodbye to red ink in first result since listing. All good for Golar Record fourth quarter result boosts annual profit for John Fredriksen's gas shipping venture. Tallink sells fast ferry Estonian operator offloads Autoexpress 3 to Jordan's Arab Bridge. Golden to pay dividend Fredriksen bulker outfit to start quarterly payouts as fourth quarter profits move in to the black. Penguin turns it round Singapore shipowner and shipyard operator gets back in the black for 2006. Casualty hurts HUBLine Cost of repairs plus vessel downtime dent profits at Malaysian intra-Asian boxship player. Austal solves mystery The anonymous company behind 10 fast ferry orders at Australian yard is... Courage rides BDI rise Higher freight rates, fleet capacity and utilization boost results at Singapore-listed bulker player. Disposals lift MISC Malaysian owner sees 18.5% rise in third quarter profits, but only thanks to the aframaxes it sold. Deeper into the red Canada's BC Ferries see profits slip further into negative territory due to seasonal slowdown.

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MARCH 1, 2007
CMA CGM bids for Taiwan's CNC WTSA raising agricultural rates Hamburg Sud making Trident weekly MISC's profit rises after vessel sales Intermarine receives third heavy-lift ship from ENVC COSCO partners with leading Chinese energy company Nordana ending direct calls at Fos NYK receives bulk ship HJ Lines to start freight-ferry service between Wales, Ireland Airbus cutting 10,000 jobs FedEx completes buyout of Chinese joint venture UPS drops 194 employees in cost-saving move Silverjet offering "carbon neutral" cargo service Celadon buys Va.-based Warrior Xpress Intercontainer-Interfrigo names Wintgens director of operations Specter of 100% container exams looms again in Senate Mexico challenges China subsidies at WTO Kuehne + Nagel looking to expand Russian footprint Chinese Coca-Cola bottlers select Descartes Globe Express' Canadian unit opens Montreal office iGPS picks up Wal-Mart executive Panama Canal tonnage rises Hutchison building new Ecuador port $10 million opening bid set for Batangas port Tacoma port names Fabulich chairman

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MARCH 1, 2007
Norwegian chemcarrier leaks fuel oil in Elbe Norwegian Anders Utkilen chemical tanker Fostraum, 2,900 DWT and built 1991, leaked fuel oil into the River Elbe at Butzfleth ... Sharp increase in pay-outs from Swedish morgage bank The Swedish Ship Mortgage Bank paid out SEK 1,790 million (EUR 193 million) in new loans last year, up by ... Better for Birka Line in 2006 The turnover of Birka Line Abp was EUR 94.70 million in 2006 compared to 115.46 million in the previous year ...

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MARCH 1, 2007
Bunker spill clean up underway Agencies swinging into operation after Puget Sound accident yesterday. Marketing manager moves on Lubeoil Manager and Bunker Trader at Turkish company resigns. 2006 a 'momentous year' for Aegean Q4 and annual results show growth in the year Aegean bagged $185.2 from IPO to continue expansion. Singapore: Stocks of residual fuels down, distillates up ARA market firms further Court doubles bill for diesel spill New Zealand-based firm ordered to cover costs of cleanup works resulting from a diesel spill in 2005. New bunker firm starts in Australia Independent bunker trading firm has established an office in Sydney this year. High bunker costs cut STX Pan Ocean profit Singapore-listed bulker owner blames high bunker costs and losses in derivatives trading for its 2006 profit cut. Crude up after US inventory report Oil prices up slightly after US inventory data and Iran's intention to continue pursuing its nuclear research.