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China's Titan Petrochem plans spot contracts market
Titan Petrochemical Group Ltd, China's largest oil-supertanker owner, plans to set up a market to trade spot petrochemical contracts in the country's south this year, said the head of Guangzhou Huanan Petrochemicals Exchange.
Strong demand may fuel rising Capesize rates
The rate of hiring capesize ships, the largest type of bulk carriers, which has risen the past nine days, may extend gains on increasing global demand for iron ore and coal. The Baltic Capesize Index, a measure of rates for that class of vessels on different routes around the world, rose 1.1 per cent to 9027 yesterday, according to the London-based Baltic Exchange.
Tanker rates fall on Japan oil stock gains
The rates for hiring medium to long-range tankers to transport oil products including diesel on Asian routes fell as Japan's oil inventories increased, reducing demand for ships.
Aussie navy rescues lone yachtsman 03/08/07

Admiralty Casebook

Experts fail to convince judge about oil spill
AN AUSTRALIAN court last month refused to impose a hefty fine against the owner of a container vessel for an oil pollution offence that provided for a maximum fine of A$10 million (S$13 million), imposing instead a A$25,000 penalty.

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Shipping News

China's Titan Petrochem plans spot contracts market
Titan Petrochemical Group Ltd, China's largest oil-supertanker owner, plans to set up a market to trade spot petrochemical contracts in the country's south this year, said the head of Guangzhou Huanan Petrochemicals Exchange.
Strong demand may fuel rising Capesize rates
The rate of hiring capesize ships, the largest type of bulk carriers, which has risen the past nine days, may extend gains on increasing global demand for iron ore and coal. The Baltic Capesize Index, a measure of rates for that class of vessels on different routes around the world, rose 1.1 per cent to 9027 yesterday, according to the London-based Baltic Exchange.
Tanker rates fall on Japan oil stock gains
The rates for hiring medium to long-range tankers to transport oil products including diesel on Asian routes fell as Japan's oil inventories increased, reducing demand for ships.
Aussie navy rescues lone yachtsman 03/08/07

Admiralty Casebook

Experts fail to convince judge about oil spill
AN AUSTRALIAN court last month refused to impose a hefty fine against the owner of a container vessel for an oil pollution offence that provided for a maximum fine of A$10 million (S$13 million), imposing instead a A$25,000 penalty.

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Grand Alliance members agree to extend co-operation 10 years DHL, Microsoft to jointly operate warehouse in Yantian Relationship Orientation Certificate Programme begins in HK Rising box volumes slows ship turnarounds at Australian ports Tanzania Port to boost capacity to meet growth projections Port of Savannah handles 2.34 million TEU in fiscal 2006-07 International airfreight volumes up by 4.9pc British Airways, Korean Airlines fined over price-fixing Qantas to raise overseas fuel surcharges as costs rise

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AUGUST 2, 2007
D. T. Joseph sees urgent need for cohesive, strong & effective Indian maritime constituency Essar Shipping's Q1 net soars by 92 pc Registration begins for ICS Diploma Massive 83 pc rise in Bharati Shipyard's Q1 net profit Sical Logistics Q1 net up by 46 pc Grand Alliance extends cooperation for 10 years OOCL helps provide safe drinking water to TN school students Onion MEP jacked up again India, Pak get down to business Sipping tea & cementing ties, Indo-Pak style Japanese cos line up to invest in industrial corridor project Opportunity to counter rupee appreciation lost, regrets Fieo 38 mega food parks cleared Rupee appreciation widens trade gap

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Philip John resigns from Rigel Shipping Port of Hamburg reports double-digit growth Lufthansa wants to become more profitable DB subsidiary Schenker plans takeover of Spain-TIR Mosolf establishes Mosolf Automotive Railways USA: New rail hazmat guidelines

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AUGUST 2, 2007
IMAREX trades US$1.25bn Conference imposes SECA surcharge Teekay profits soar Finnlines profit down Keppel Nantong opens New Med service ICTSI takes over Guayaquil handover Deep Sea's income slips BIFA says "look at cargo"

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AUGUST 2, 2007
NYK takes 100 percent of reefer venture Bharati wins repeat PSV orders Russian mini-subs plant flag on North Pole seabed Hornbeck Offshore reports second quarter results

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AUGUST 2, 2007
Washington State Ferries releases CATHLAMET findings Panama Canal Authority wins award for expansion plans Coast Guard celebrating one millionth rescue LNG firm reaches agreement to man LNG ships with US seafarers Port of Hong Kong joining Customs' security program

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AUGUST 2, 2007
Angola deal revives LNG shipping TEEKAY, Mitsui and NYK to charter four vessels to Angola LNG in a deal worth more than $900m. Eni buys stake in Angola LNG Baltic Dry Index hits record high INDEX rises seven points to hit a landmark 7,000 for the first time. Insurers divided over Lloyd's China PLAYERS at Lloyd's split over whether to participate in one of the market's prized ventures. A port system is like a network of arteries in the body TRIESTE port president Claudio Boniciolli talks about his ambitions for Adriatic ports. Ripples ahead for the pools SHIPOWNERS with vessels deployed in pools face some vital decisions in the months ahead.

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AUGUST 2, 2007
HHLA results fuel IPO expectations HAMBURG container terminal operator, HHLA, has announced a strong set of results for 2006 ahead of its debut on the German stock exchange, scheduled for 4Q 2007 Carnival congestion on 12th Avenue CRUISE ship Carnival Victory struck a Hudson River pier this morning while docking; damage to both the pier and vessel are said to be minor Brazil's Log-In posts 2Q turnround LOG-IN (Logistica Intermodal), the Brazilian cabotage and port operator, has posted 2Q EBITDA of Reais19M ($10.1M) compared with a loss of Reais8.3M for 2Q06 PDVSA explores for oil off Cuba Vinashin in steel talks with Posco Genco slips but dry still strong DoJ fares poorly in longshore lawsuit Fincantieri compensates Finnlines Ageing ferry springs a leak Keppel O&M opens Nantong yard Jamaica scan fee claim disputed Levina tragedy: employee jailed Berlian Laju acquires simulator

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AUGUST 2, 2007
3 Asian lines join MSC for Med service Cosco, "K" Line and Yang Ming are revamping their service between the western Mediterranean and the U.S. East Coast. Virginia International Terminals switches to ultra-low-sulfur diesel Terminal operator Logistec posts slide in earnings Wilhelmsen earnings jump Baltic dry cargo index hits record high Truckers win guaranteed rates at British Columbia ports House passes WRDA bill Kansai airport opens new runway Amid another recall, China defends its exports Price-fixing fines push KAL into the red Northwest, pilots reach pact

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AUGUST 2, 2007
US Senate votes to take a tougher line on record Chinese imports Asian trio reveal details of their new USEC/Med service OOCL claim a first for Russian capital Betuwe off to a disappointing start Maersk opts for feeders on Caribbean ' Far East service

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AUGUST 2, 2007
Gas leak for BW Two top directors at Oslo-listed BW Gas defect to head new LPG carrier company. NYK freezes out Lauritzen Reefer partners go separate ways, with Japanese owner taking full control of NYKLauritzen Cool. Double shuttle Teekay has expanded its order for aframax shuttle tankers at Samsung, declaring two options for 2011 delivery. Carnival pier pressure Cruise giant's 101,500-gt Carnival Victory suffers 'minor' damage after striking New York pier. Sale cash lifts Precious Bangkok-listed bulker owner's second-quarter net profit up on ship sale but expenses increase. Hornbeck hails strong half US supply ship and tank-barge player helped in first six months by higher day rates and bigger oil capacity. BC opens up? Canadian ferry watchdog wants owner to face competition, but rivals are not exactly queuing up. Good repair job at SembCorp Singapore yard records near 50% hike in second-quarter profit as repair segment cleans up. Diana hunts down profit Greek bulker owner almost doubles first-half earnings as revenues jump. Grand Alliance staying together Hapag-Lloyd, MISC, NYK and OOCL sign on for another ten years of boxship cooperation. Finnlines feels growth pains Fleet expansion hits Finnish ro-ro operator in the pocket in the first half as financial expenses rise. UP ups Bharati order Ultrapetrol subsidiary UP Offshore returns to Indian yard with another $44m order for a PSV pair. CKY revamps in Med Coscon, K Line and Yang Ming usher in new Med boxship service with MSC. North Sea lifts GulfMark Large leap in day rates and robust Southeast Asian market propel US offshore owner to another record quarter. Stealthgas sells more Underwriters snap up 460,000 shares in Greek LPG player, bringing recent stock sales to $129.6m. Teekay turns it on US-listed tanker and gas giant benefits from better rates and bigger fleet in first half as profit grows. More for Mercator Indian tanker owner's year starts with a bang as profits rise 130%. Iino revises upwards Japanese tanker owner predicts higher-than-expected full-year earnings as sales jump. Shinwa Naiko on the rise Japanese coastal bulker player makes strong start to year as revenues and profit grow. Genco slips 20% Peter Georgiopoulos' US-listed bulker arm sees profits dip as costs increase due to larger fleet. Daiichi raises the bar Japanese tanker and bulker owner puts up first-half forecast after storming first-quarter performance. 'Unfazed' Singapore Shipping Corp's Ow Chio Kiat says 30% decline in first quarter results was expected. Trio wins Angola deal NYK, Mitsui and Teekay in line to supply four LNG carriers for 20 years to African project.

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AUGUST 2, 2007
COSCO, "K" Line, Yang Ming to replace Med/USEC service with MSC slots Sandia labs testing vessel-based radiation detectors LNG ships could lead to 200 jobs for U.S. seamen Sea Star increasing U.S. Virgin Island bunker charge CORRECTION: Hanjin Shipping not on Med/U.S. East Coast TAS-3 service BA, Korean Air admit to U.S. price-fixing; each to each pay $300 million BA World Cargo invests more than $1 billion in freighter fleet Cathay Pacific boosts Hong Kong/North America, Australia flights Continental's cargo drops 9% in July Cargolux starting Almaty, Kazakhstan flights Grain shipments spared effects of Midwest bridge collapse Deutsche Bahn's Schenker to buy Spain-TIR Congress probes military cargo moving air vs. land Geodis' first half profit hit by integration costs Ag equip supply firm sues freight carriers over fuel surcharges Corzine: N.J. voters will have say in toll road plan UPDATE: Secure Freight Initiative expands to Hong Kong BASF delisting from New York Stock Exchange Trinidad looking at Costa Rica beef imports ServiceCraft leases Lone Star location DSV establishes New Zealand company, buys former country partner Judge hears motions to dismiss ILA case Vancouver cargo volumes up across board save for breakbulk Simatech to establish container terminal at Iran port Tangier Medgate, Portland order Kalmar cranes, reachstackers Washington State port continues with waterfront redevelopment

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AUGUST 2, 2007
Stranded seafarers to return home The eight Russian seafarers that have been stranded on the general cargo ship Lillian in New Ross, Ireland for ten ...

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AUGUST 2, 2007
Maersk favours US West Coast distillate Price and availability an issue for fuel switching scheme. Terminal giant secures more credit Vopak says new credit facility will provide the flexibility it needs to pursue growth ambitions. Shell announces sale of its biggest French refinery Two other refineries are also under offer, but Shell says bunker sales in France 'will not be impacted in 2007'. Recruitment drive continues at O.W. Bunker Group Ten new recruits join two-year trainee programme. Oil removal from Sea Diamond 'not feasible' Specialists consider it counterproductive to try to remove oil remaining on sunken cruise ship. European fuel oil prices at record high But bunker prices Thursday were showing signs of softening. Rotterdam market softens slightly Singapore: Residual fuel stocks rise Stocks of middle distillate plunge to lowest level in almost 15 months. Aramco sells rare 380 cst cargo The fuel oil cargo looks set to be used for blending in Fujairah's bunker market. IEA repeats call for OPEC output boost 'Insufficient oil stocks' possible in third quarter, IEA chief says.