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Shipping News

China Shipping stock attracts 2.6t yuan in bids: sources
China Shipping Container Lines Co, Asia's second-largest container line, attracted 2.6 trillion yuan (S$507.5 billion) worth of orders for its Shanghai stock sale, said three people familiar with the offering.
Vietnam pushes port investment
Vietnam is encouraging both domestic and foreign investors to develop the country's port system which is expected to handle 200 million tons of cargoes in 2010 and 400 million tons in 2020, according to local newspaper Vietnam News yesterday.

Admiralty Casebook

Towage is not transportation
THE Queensland Court of Appeal has upheld a decision in favour of a Malaysian shipowner whose vessel was badly damaged when one of the two tug boats helping to berth it collided with it following a steering control failure on the tug.

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Shipping News

China Shipping stock attracts 2.6t yuan in bids: sources
China Shipping Container Lines Co, Asia's second-largest container line, attracted 2.6 trillion yuan (S$507.5 billion) worth of orders for its Shanghai stock sale, said three people familiar with the offering.
Vietnam pushes port investment
Vietnam is encouraging both domestic and foreign investors to develop the country's port system which is expected to handle 200 million tons of cargoes in 2010 and 400 million tons in 2020, according to local newspaper Vietnam News yesterday.

Admiralty Casebook

Towage is not transportation
THE Queensland Court of Appeal has upheld a decision in favour of a Malaysian shipowner whose vessel was badly damaged when one of the two tug boats helping to berth it collided with it following a steering control failure on the tug.

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Sackings at Maersk as CEO targets box business for shake-up US box traffic down 1.3pc, slump continues for third month China Cosco container business growth steady in 2007 HK debut: China Railway pre-listing share sale 209 times oversubscribed Saudi to build US$445 million container terminal at Jeddah Port 2000's new terminal at Le Havre unloads first ship Sinotrans-Korean Air joint venture expects operating licence Dragonair re-launches Hong Kong to Kathmandu service Shanghai Pudong airport on track to be top global airfreight hub

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Jaisu Shipping bags ISO certificate All 8 Saiprabha staff pass IICL exam with distinction Genesis Initiative to form Indian chapter JNPT keen to develop port-based SEZ MoS clears decks for dedicated box terminal at Diamond Harbour Vallarpadam ICTT breaks ground Now, click www.mptgoa.com for MPT Major Ports to undertake 276 projects during 11th Plan Dutch delegation docks at JNPT Railways raises congestion surcharge on iron ore exports to 60 pc Huge investments needed to raise air cargo volumes-Praful Consultant for industrial corridor to be shortlisted soon Export figures don't reflect manufacturers' problems-Fieo President NECC eggs on govt to regulate maize exports

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DECEMBER 6, 2007
Ennshafen appoints director Port of Amsterdam reports further growth in Q3/2007 AF-KLM show interest in Alitalia Experimental 18,000 t train run in Russia 3M expanding collaboration with Fiege in Poland To and fro with CD Cargo and ZSSK Cargo

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DECEMBER 6, 2007
Maersk pulls back the throttle St Lawrence meets security deadline ASP buys Silver Fern Foss pays for TWIC cards Eitzen Chemical sells old vessels

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DECEMBER 6, 2007
Floating "stranded" gas solutions set for commercialization Stealthgas buys two product tanker newbuilds Ulstein Design inks two more Eastern Echo contracts

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DECEMBER 6, 2007
Longview port board Oks purchase of new crane WSF cuts ELWHA sailing for maintenance/sea trials Coast Guard Lifeboat School subject of Columbia River Propeller Club meet Annual AAPA Cruise Seminar set for February in San Francisco Union reaches tentative deal with Canadian Pacific Railway

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DECEMBER 6, 2007
Sovcomflot wraps ups Novoship takeover LONG-expected merger sealed as state shareholding in Novoship transferred to Sovcomflot. Sovcomflot savours steady earnings EIAG pays $778m for Vanship tanker fleet HONG Kong 'deal of the year' will give Univan's Captain Charles Vandeperre seat on EIMC board. FEFC predicts strong 2008 growth CONFERENCE says Asia to Europe trade to rise 19%, while capacity set for 21% growth. Rising high: Sharjah rides wheel of fortune SHARJAH is making a name for itself as a premier re-export centre and has bold plans for expansion. Not so great expectations WILL new public money in shipping stocks be prepared to take the rough with the smooth?

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DECEMBER 6, 2007
Top shares rebound Top Tankers' shares jumped back today after plummeting 16% yesterday on the weak pricing of the company's follow-on offering Cryptic oil spill in Puerto Rico COAST Guard officials are seeking the culprit in another mystery oil spill at a Puerto Rican bay China: 550 more VL voyages by 2015 THE annual increase in China's demand for oil is forecast to be 4.5% a year between now and 2015 according to a Bloomberg report Freight costs will peak in 2008 THE chairman of the Baltic Exchange has said that commodity shipping costs will peak in 2008 before falling as the number of ships available outpaces demand Venezuela unwelcome in Mercosur A POWERFUL Brazilian shippers federation says it wants Venezuela to leave the Mercosur common market even though it has only just joined up Jury retires in yacht deaths case THE jury in the trial of P&O ferry officer Michael Hubble accused of manslaughter for allegedly running down a yacht has retired Pasha Bulker master blamed Will Manila weaken on tanker rules? Maritime city planned for Hamriyah German orderbook beats expectations No quick fix to credit crunch Repsol in new Angolan LNG project Ship aground at Gladstone Relief for banks after HSH victory

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DECEMBER 6, 2007
PierPass aids LA-Long Beach growth Extended gates program in use at at top U.S. import gateway has moved about 40 percent of container volume to off-peak hours. Bush budget would drop port security grants Feds bust $200M smuggling ring at Port Newark Maersk increases U.S.-Mideast/India rates NJ dredging begins LA-Long Beach tenants cited for stormwater violations Ficker joins First Industrial IPO for Mercator unit India port volume up 14% MOL adds coal carrier Eight sites join TWIC list

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DECEMBER 6, 2007
Eimskip links with QPC in cold store project Another new service for St Petersburg German rail freight disruptions could be at an end CSCL opt for 'safety valve' at Ipswich AP Moller-Maersk to reorganise its box arm

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DECEMBER 6, 2007
Cowen vows to fight The suddenly deposed boss of bulker owner OceanFreight is not going quietly. OceanFreight CFO out US-listed bulker owner's finance chief confirms that he has been let go. OceanFreight tosses CEO Company founder Anthony Kandylidis takes over in top roles as bulker owner's chief executive is ousted. Top Tankers moves up US-listed owner's stock moves upward on a rollercoaster of price moves. Union forms Russian bear State-owned Sovcomflot and Novoship merge into a 124-vessel behemoth owner. A win for Sea Containers UK owner wins arbitration case brought by GE Capital over control of GE SeaCo. Boxship blocks Suez CMA CGM vessel stalls in the Suez Canal, blocking a 33-ship, Mediterranean-bound convoy. Meba president unseated Two-term union boss loses four-way race as Marine Engineers Beneficial Association's Atlantic-area vice president takes the reins. Samso-Linien up for sale Nordic Ferry Services in pole position to take over the Danish ferry owner, chairman Bernth says. Fjord Line buys rival Norwegian owner snaps up compatriot Master Ferries to double its fleet. Legal spat over AHTS Norwegian owners go head-to-head over cancelled charter deal for anchor-handler. ACM strikes gold Johnny Plumbe-led tanker broker takes over Alchemy Trading Company (ATC) giving it a 100% holding in sale and purchase specialist ACM Shipping Services. CSCL in demand Boxship owner sees Shanghai IPO attract $351bn in offers, 170 times more than expected. EIAC makes its move George Sagredos-led blank-cheque outfit buys nine VLCCs from Fred Cheng's (right) VanShip. Jurong buys Chinese Singapore shipyard takes 70% stake in Shanghai marine design house. Plumbe still rising Weakening US dollar takes chunk of ACM's profits but revenue and earnings are on the up. Tulcea in the red Aker Yards' Romanian facility lines up more investment as nine-month result disappoints. Indonesia gets tough on ferries No vessels older than 20 years will be brought into country to combat poor safety record. Subic open for business Hanjin's $1.6bn Philippines yard ready to start working on its 40-ship orderbook. Job done for STX Korean shipbuilder reaches annual order target and passes $10bn mark after SCI deal. Tallink starts slowly Estonian ferry owner begins share buyback, but will not snap up full 5% holding authorised by shareholders. Eitzen sells two tankers Norwegian chemical tanker owner divests itself of two elderly units and will book gain of $2.2m.

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DECEMBER 6, 2007
ESPMC-WITASS raising rates from West Coast South America NYK starting Baltic loop Hanjin Shipping names two 6,500-TEU ships for Asia/Europe trade TECO closes on sale of barge and terminal unit Volga-Dnepr Group nine months revenue up 50% Air India planning 15% sell-off AECOM jumps on intermodal infrastructure bandwagon Survey: Shoppers waiting for retail bargains this holiday season Chinese companies consider deal for iron ore giant Fenway Partners Acquires East Coast Warehouse and Distribution Portland, Ore.-area DC complex signs two new leases ICS plans new warehouse in Jacksonville UTi's third quarter profit up 14% $200 million smuggling ring stopped at Port Newark Retail container traffic slumps Sen. Boxer seeks more powers for Coast Guard marine traffic systems Puerto Cortes sees net gains from Megaports security China plans investment in Estonia Shekou hits 3 million TEUs ICTSI names Bestenbreur as Georgian terminal CEO

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DECEMBER 6, 2007
Samsø-linien want to sell its operations Samsø-Linien is working on a sale of its entire operation to Nordic Ferry Services A/S, which as from October 1, 2008, will take over the Samsø-Linien service from Hou to S'lvig. Samsø-Linien is supposed to continue ... Clipper strengthens its brand Danish Clipper group will strengthen its brand as from the end of this year. The company name Clipper Elite Carriers will change to Clipper Projects. The name Clipper Elite Carriers was introduced in 1999, when Clipper took over the bankrupt ... States with bad flag state performance in the corner The shipping associations BIMCO, International Chamber of Shipping (ICS), International Shipping Federation (ISF), Intercargo and Intertanko have updated their annually Shipping Industry Flag State Performance Table. The following flags have twelve or more negative performance indicators this year: Thailand, Syria ...

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DECEMBER 6, 2007
New Panama rates Dates set for crucial IMO meetings The IMO has announced its agenda for 2008, the year it hopes to reach agreement on MARPOL Annex VI revisions. Campaign to ban residual product targets California Environmental activists expect little support from EPA and want California to lead the way. Gibraltar considering new bunker anchorage Government reviewing call to open port's eastern anchorage for bunkering. Bunkers sharply lower as crude prices slip Bearish sentiment in crude market rubs off on Singapore and Rotterdam fuel oil prices. Rotterdam market remains tight Singapore: Fuel oil inventories at six-month high Middle distillates meanwhile at a two-month low. Titan shipyard to deliver eight double-hulls in 2008 Most of the 6,500 dwt bunker tankers will be deployed in Singapore.