Logistics sector gets $7m for projects The importance of the logistics sector to the economy means that the challenges of globalisation, increasing competition and more complex supply chains must be addressed if the industry is to move forward. Initiatives announced yesterday by the Singapore Logistics Association (SLA) are intended to give the industry a boost and position it well for the future.
DP World buys Egyptian port operator for US$670m DP World Ltd, the Dubai-owned port operator with terminals from the UK to China, purchased Egyptian Container Handling Co for US$670 million to gain Sokhna Port at the southern entrance to the Suez Canal.
Charterers win bid for arbitration BRITAIN'S House of Lords ruled last month that the arbitration clause in the popular tanker time charter form, Shelltime 4, does not exclude disputes about the validity of the contract itself, even if the charter was procured by fraud, bribery or misrepresentation.
Logistics sector gets $7m for projects The importance of the logistics sector to the economy means that the challenges of globalisation, increasing competition and more complex supply chains must be addressed if the industry is to move forward. Initiatives announced yesterday by the Singapore Logistics Association (SLA) are intended to give the industry a boost and position it well for the future.
DP World buys Egyptian port operator for US$670m DP World Ltd, the Dubai-owned port operator with terminals from the UK to China, purchased Egyptian Container Handling Co for US$670 million to gain Sokhna Port at the southern entrance to the Suez Canal.
Charterers win bid for arbitration BRITAIN'S House of Lords ruled last month that the arbitration clause in the popular tanker time charter form, Shelltime 4, does not exclude disputes about the validity of the contract itself, even if the charter was procured by fraud, bribery or misrepresentation.
SembCorp faces legal battle over forex losses SHIPYARD set for legal tussle with 11 banks over $303m of losses on unauthorised forex deals it claims it is not liable for.
SembCorp invests in Pipavav
Flemming Jacobs heads $350m boxship IPO NEW boxship investment vehicle could raise around $350m via intended listing on the New York Stock Exchange.
Teekay hit by weak tanker market TEEKAY Corp sustained a sharp fall in third quarter profit as the weaker tanker market took its toll.
Over a barrel OIL producers must already be putting the champagne on ice in anticipation that the crude price hits $100 a barrel.
Lash up and stow SCARCELY a day goes by, it seems, without some account of damaged cargo caused by a collapse in a container stack.
Hawaii resurrects Superferry HAWAII'S House of Representatives passed a bill to save Hawaii Superferry yesterday, clearing the way for service to resume on 15 November
Teekay upbeat of vessel supply TEEKAY Corporation missed profit forecasts on weak spot rates, but the tanker supply outlook continues to improve
GenMar manages down cycle GENERAL Maritime's profits were halved, but falling spot rates were countered by a prescient shift towards time charters
Judge drops case against ILA FEDERAL Judge I Leo Glasser has dealt a second blow to the US government's crusade against the International Longshoremen's Union in dismissing a civil racketeering lawsuit
Bimco's newbuild contract is a hit BIMCO yesterday launched the industry's first standard newbuilding contract after an intense two-year drafting process that threatened to alienate some shipyards
14-ship pool unveiled Four owners have joined forces as Bernhard Schulte-led Hanseatic Tankers launches with a fleet of 17 ships.
RICO case tossed New York judge throws out Justice Department's racketeering case against the International Longshoremen's Association.
Huge coke bust Mexican authorities uncover load of more than 11 tonnes cocaine aboard a Hong Kong-flagged vessel.
Trico heaps on profits US offshore vessel player's profits nearly triple as company shifts toward international markets.
Six vie for Danish job Mols-Linien and Scandlines among ferry operators interested in Bornholm route.
Superferry bill approved Hawaii's governor is expected to sign a bill passed by lawmakers that would allow operation of the Alakai ropax fast ferry.
Vikmanis steps down Latvian Shipping's chairman (pictured) hands over power to Ventspils port chief, a former captain with the tanker owner.
Chemoil banks on JPMorgan Singapore bunker and tanker player clinches commodities alliance with investment house.
Mayhem for Mundra Investors flood port with offers on first day of share sales.
Jacobs taps Big Apple Ex-NOL chief leads Global Ship Lease in New York listing to finance $900m spending spree.
Hornbeck net grows As the US OSV and tank-barge player sees 20.9% growth in third-quarter profits, Hornbeck Offshore raises its guidance for full-year earnings by 25%.
Ore price hike fires Pac Basin Hong Kong bulker owner thinks imminent rise in cost of iron ore could spell short-term gain for owners.
SembCorp ahead for now Singapore yard's third quarter profit up, but still to book huge potential losses on deals carried out by sacked finance chief.
STX inks post-panamax twins Korean owner's UK subsidiary signs two-ship deal worth $120m.
WW gets wanderlust Ingar Skaug refuses to rule out Norwegian exit after warning tax dispute could harm full-year returns.
ICG takeover extinguished Passing of Halloween deadline without any movement sees offer period for Irish owner end.
Vultures circle Sydney Ferries Four companies interested in part-privatisation of Australian owner, after report recommends overhaul.
Yardimci heads to Ireland New management company will handle Turkish group's six chemical tanker newbuildings.
Steamship goes for 15% Another P&I club joins the higher premium convoy.
Bonheur not humoured by tax Offshore and shipping group latest to launch withering attack on Norwegian government over new tax regime.
Finance gains boost Bonheur Norwegian offshore group has sale of shares and higher interest income to thank for larger third-quarter profit.
Men in black WW overturns last year's losses but there is still a sting in the tale.
DOF does the business Norwegian offshore shipping group prospers in busy markets in first three quarters.
Aker reveals K Line deals Japanese giant orders four supply ships and is behind two anchor-handler contracts signed in August.
MMM still stuck in the red Malaysian Merchant Marine reports another quarter of losses, but overall results are improving.
Genmar profits tumble Results at Peter Georgiopoulos' other US-listed venture were not so rosy with income down by half.
Cammell Laird goes home Collapsed UK shipyard group's former boss John Syvret wins right to name on Merseyside.
Teekay tanks Profits at US-listed tanker operator are down by close to 80% as rates dive and costs rocket.
Genco sizzles Profits at Georgiopoulos bulker outfit jump 26% in third quarter on more ships and higher rates.
Salvors start to pump oil from Omer N Divers from Svizer has managed to connect hoses to the bunker tanks in the capsized Turkish vessel Omer N. All oil will be removed before the salvors start to rigthen the vessel that is lying on its port side with ...
New Norwegian MTBs surplus to requirements An independent defense commission in Norway recommends that six new MTBs worth NOK 5.0 billion are not put into service as they might be surplus to requirements. The catamaran vessels are on order at UMOE Mandal for delivery next ...
Russian attempted to blow up tanker in Kola Bay In 2005 a Russian attempted to blow up the tanker Trader stationed in the Kola Bay. Igor Senin, a deputy mayor of the town Zaozersk in Murmansk Oblast, failed in his attempt but he is now in court on terrorist ...
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