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Shipping News

Box rate fears unfounded: Cosco
FEARS that a substantial gap between supply and demand in the container shipping industry would lead to a collapse in freight rates are unfounded, according to a senior Cosco Container Lines executive, who said that the effective gap would be only 1-2 per cent.
Shipping rates for coal, iron ore may hit record
SHIPPING rates for iron ore and coal may rise to a record this year and gain further until 2010, driven by demand from China and port bottlenecks, executives and analysts said.
Somali pirates demand ransom for ship
SOMALI pirates are demanding US$20,000 for the return of an Indian-flagged merchant ship and its crew, officials said yesterday.

Admiralty Casebook

Outbreak of war considered in damages assessment
THE HOUSE of Lords in the UK last week upheld a decision that a charterer only had to pay damages from the time it terminated a charter until the outbreak of the Iraq war and not the full remaining period of the charter.

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Shipping News

Box rate fears unfounded: Cosco
FEARS that a substantial gap between supply and demand in the container shipping industry would lead to a collapse in freight rates are unfounded, according to a senior Cosco Container Lines executive, who said that the effective gap would be only 1-2 per cent.
Shipping rates for coal, iron ore may hit record
SHIPPING rates for iron ore and coal may rise to a record this year and gain further until 2010, driven by demand from China and port bottlenecks, executives and analysts said.
Somali pirates demand ransom for ship
SOMALI pirates are demanding US$20,000 for the return of an Indian-flagged merchant ship and its crew, officials said yesterday.

Admiralty Casebook

Outbreak of war considered in damages assessment
THE HOUSE of Lords in the UK last week upheld a decision that a charterer only had to pay damages from the time it terminated a charter until the outbreak of the Iraq war and not the full remaining period of the charter.

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Patrick Allain-Launay retires from MOL NZ to provide software for new Gdansk box terminal in Poland Agility to buy LEP Intl. in Australia & NZ, plus Pan Orient Shipping

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APRIL 5, 2007
Cruise ship grounds Panama Canal makes small changes to pricing proposals ITIC warns on legal risks to surveyors USCG "meets SAFE Port Act"

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APRIL 5, 2007
Panama Canal delays toll hikes MacGregor reports record ship crane sales

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APRIL 5, 2007
Kinder Morgan buying Vancouver, BC bulk terminal Mitsui plans to expand iron ore carrier fleet Port of Olympia presenting annual boating/chowder event Greenbrier Companies releases second quarter financial results US Coast Guard reaches vessel tracking goal

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APRIL 5, 2007
Passengers flee grounded cruiseship in Aegean Sea ABOUT 1,200 passengers evacuate the Sea Diamond after it ran aground half a mile off the dockside of Santorini island. OOIL runs into transfer fee roadblock PORT Authority of New York and New Jersey demands $54m to approve sale of Staten Island port concession. Panama Canal delays toll hikes PANAMA Canal Authority says it will postpone start of new fee structure from May to July.

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APRIL 5, 2007
Panama Canal delays toll increase CITY OF PANAMA 05 April ' The Panama Canal Authority (ACP) today published a new proposal to restructure the Panama Canal's pricing system and certain regulations Greek idyll comes to grief THE Greek-flagged cruise ship Sea Diamond has been evacuated with no casualties after it hit a reef this afternoon off the port of Fira on the Cyclades island of Santorini Port of Spain backlog after strike A STRIKE halting all cargo operations at Trinidad's Port of Spain ended last night, but the backlog could take weeks to clear Pemex battles Cantarell plummet MEXICAN oil giant Pemex is moving to stop the bleeding at its largest field, Cantarell, which lost 20% of its production over the past 12 months New maritime legal group for London market SCOTTISH-based legal practice HBJ Gateley Wareing has concluded a deal to merge with Shaw & Croft, described as London's first shipping boutique Essar goes big on bulk CYPRUS-based Essar Shipping & Logistics is buying four new Supramax ships and two second-hand Capesizes, for a total $250M, to ship iron ore from Brazil to China Russians, Aker trade charges in shipyard fight Stena Line posts best profit in 10 years Napoli update: Beach re-opened Sea Tigers deny base wiped out Tampa sails after repairs completed Trenitalia comes out of sidings Liner conferences still under fire

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APRIL 5, 2007
Mediterranean Shipping joins TSA The carrier, which has long operated independently of alliances and discussion groups, is the second to join the TSA this year. Panama Canal postpones toll hikes Ga., SC governors name port task force Bill seeks highway study for North Carolina port CMA CGM's Saade warns Marseilles Another MSC ship founders off England Long Beach honors carriers for 'green' efforts Global economy to slow, report says ProLogis to expand in Japan, Southern California DSR, 2 partners to acquire Scandlines NS issues profit warning

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APRIL 5, 2007
NY/NJ commits to sustained policy of upfront payments from terminal buyers The Port Authority of New York and New Jersey is committing to a policy of getting investment commitments from investors ' even professional terminal operators ' in an up-front payment. Vote on Smit Rotterdam pay deal within two weeks No industrial action will be taken over the next week and a half to two weeks by Smit Rotterdam tug crews, as they cast secret ballots on the deal offered by Smit. Irish Continental Group examining rival bid Maersk facing new NZ shipper backlash ACCC nod for Toll split, with conditions Indonesian transport sector leans on government for tax cuts and incentives Inchon Container Terminal reports surge in operating profit More containers, new developments at Port of Basel Indonesian forwarder builds co-operation with Lauritzen Cool Logistics

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APRIL 5, 2007
Panama extends deadline But shipowners have just 15 days left to oppose far-reaching new pricing plan. Saga to float? Oldies' cruiseship operation lines up IPO in the second half of 2007. Greek cruise ship grounds All passengers now safe after vessel hits rock on approach to Santorini island in the Aegean Sea. Gibson targets biofuel market UK firm pinches two brokers from Braemar to form new alternative fuel desk. Ocean Tankers in share split Meteoric rise in stock price prompts plan of two-for-one divide just four months after listing. Krabbeskars snaps up tanker Swedish owner buys 1996-built products carrier from Herning Shipping of Denmark. Strike threatens Cegielski Polish ship engine maker faces wage hike or walk-out. Samskip buys into Canada Icelandic container line gains foothold in Bayside with coldstore acquisition. Ship rescues two off Guam Japanese sailors survive two days adrift after typhoon before being picked up by passing car-carrier. Maersk wants new terminal Danish shipping giant eyeing three locations for port investment on US west coast, Canada or Mexico. ICG deliberates Shareholder meeting to discuss management buy-out adjourned as directors consider possible rival offer. Kiwi ferry cleared to sail Interisland Line's Aratere will resume Cook Strait crossing despite broken lifeboat winch. Re-float hope in Venezuela Authorities look for suitable vessel to lighter 20,000 tonnes of crude from aframax grounded in Maracaibo. Navios looks for funds Angeliki Frangou's bulker outfit files $500m shelf registration with US regulatory authorities. Scandlines carve-up close German and Danish co-owners reportedly agree to disagree and will sell ferry group to two different bidders. Heading higher Reported sale of Nautical Dream suggests that prices for second hand capesizes continue to rise Chemoil soars Second very bullish analyst report has sent shares in Singapore-listed bunker player up nearly 40%. MOL in bulker feast Japanese owner says it will build 44 bulkers ranging from 80,000-dwt to 300,000-dwt by 2012.

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APRIL 5, 2007
Coast Guard says it met deadline MOL to launch 44 iron ore carriers Second MSC ship rescued by British coastguard Report: Hanjin eyes Israel expansion Lines raise Indian subcontinent/U.S. freight rates Carriers seek U.S.-to-Asia rate hikes for paper Long LNG vessel order book stressing shipyards Evergreen, COSCO adding Taiwan, Mexico calls to Asia/Panama service CMA CGM upgrades ships on Europe/Caribbean/Brazil service Trailer Bridge to call Dominican Republic ABS names Artemiev as Russia manager Pilot Air's revenue up 7% in 2006 NYK sells shares in Nippon Airship Corp. United's cargo drops 6.5% in March CWB enters dispute with CN Rail Rendell discusses Pennsylvania Turnpike sale with Peters Norfolk Southern expects lower 1st quarter earnings FESCO takes control of Transgarant New C-TPAT benefit designed to reduce demurrage charges BDP takes full ownership of German joint venture TT Club names Huxley as EMEA sales director UPS survey: China consumer power to exceed U.S. in 10 years Pacer awarded $14.5 million in dispute with Del Monte Foods USDA tightens import rules against chrysanthemum white rust Samskip buying 50% interest in Canadian frozen food specialist Dean Warehouse launches new division Celestica selects Kuehne + Nagel Agility buying Houston's WTS Wider quits Panalpina Louisiana ports identify $849 million in capital improvement needs Georgia, South Carolina name six to port task force Report: Maersk mulls terminal in Coos Bay, Ore Syria set for first container cranes due to ICTSI order

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APRIL 5, 2007
Strong growth for TT-Line In 2006 the number of trucks and trailers carried by TT-Line on the routes Trelleborg'Travem'nde and Trelleborg'Rostock ... Cell phones cause of collision The use of mobile phones was a contributing factor to the collision between The Ahlmark Line dry cargo vessel Skagern ... LNG officers in high demand The lack of experienced LNG-officers forces shipping companies to take officers from experienced in other ship types, salaries of ...

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APRIL 5, 2007
Alaska Tanker, OOCL have 100% green record Shipowners posting best figures for compliance with port's emissions control initiative. 2006 growth for Lubrizol Lubricant additive supplier overcomes increases in raw material price and lower Q4 sales volumes. EMTA raises bunker surcharges again New round of increases announced after review of bunker costs. Rotterdam market firms despite lower crude INTERTANKO: Scrubber retrofit 'not easy' Tanker association continues to call for switch to distillates, cites difficulties with scrubber option. Australia: Gladstone supplies recover Fresh cargoes have arrived to replenish marine fuel stocks.