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Indonesia slams maritime watchdog over piracy report
INDONESIA hit out at the International Maritime Bureau yesterday over a report that names its waters as the most dangerous in the world.
Babcock to buy UK nuclear dockyard for £350m cash
SUPPORT services company Babcock International Group plc has agreed to buy Devonport, the dockyard where Britain refuels its nuclear-powered submarines, for £350 million cash, it said yesterday.
Persian Gulf tanker rates firm
THE cost of shipping 2 million-barrel cargoes of Middle East oil to Asia, up 71 per cent since April 23, may extend its gains because of a shortage of tankers.

Admiralty Casebook

Exporter loses shipment case due to time bar
A MALAYSIAN exporter that was not paid for several shipments of furniture to a distributor in the United States has lost a bid to recover its losses from the company that arranged its consignments because it failed to bring its action on time.

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Shipping News

Indonesia slams maritime watchdog over piracy report
INDONESIA hit out at the International Maritime Bureau yesterday over a report that names its waters as the most dangerous in the world.
Babcock to buy UK nuclear dockyard for £350m cash
SUPPORT services company Babcock International Group plc has agreed to buy Devonport, the dockyard where Britain refuels its nuclear-powered submarines, for £350 million cash, it said yesterday.
Persian Gulf tanker rates firm
THE cost of shipping 2 million-barrel cargoes of Middle East oil to Asia, up 71 per cent since April 23, may extend its gains because of a shortage of tankers.

Admiralty Casebook

Exporter loses shipment case due to time bar
A MALAYSIAN exporter that was not paid for several shipments of furniture to a distributor in the United States has lost a bid to recover its losses from the company that arranged its consignments because it failed to bring its action on time.

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Revenue rises, but profit falls for `K' Line in 2006-07 Evergreen uses Trieste port to reach S Germany Panalpina transports sports cars to FIA GT Championship, Zhuhai India's Transworld to buy four 1,400-TEU ships from Singapore India's Transworld to buy four 1,400-TEU ships from Singapore Durban expects to quadruple container capacity Kuehne + Nagel targets Asia Pacific for global expansion Hactl April airfreight tonnage up 1pc as growth slows Miami International tops in cargo, but market share slips BALtrans' interim net earnings plummet 48pc

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PST to charter 2 new vessels to CSAV MANSA offers Conference Room on hire to shipping fraternity Pak to export 2 lakh tonnes of cement to India UDRI/Maharashtra govt yet to submit updated draft report-Baalu 9 firms submit EoIs to develop shipbuilding yard on E. coast Cargo throughput at 12 Major Ports up by 9.5 pc in 2006-07-Baalu Report on dwell time at Ports being finalised Amit Kumar assumes charge as CONCOR's CGM for N-W Region Trade-friendly measures highlighted & appreciated Railways plans to set up 20 logistics parks along dedicated freight corridor ... banking on $ 15-bn loan for development ... eyes larger iron ore transportation pie BoA clears 16 SEZ proposals Appreciating rupee halts buoyant trend in man-made textiles exports-SRTEPC chief CBDT tells I-T Dept to pay interest on tax refunds Assocham opens business office in Moscow

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BAWC sweeps board at Ciffa awards Stulz new cargo MD Europe for Swiss Maersk to buy stake in Colombo box hub AirBridge Cargo joins Tapa Shipping on River Oder suspended Cat Logistics opens facility near Moscow Truck toll hike in Austria

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MAY 10, 2007
Confident GL in acquisition mode AIG Global buys San Francisco terminal operator Rapid growth for Bourbon

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MAY 10, 2007
Setback for Weaver's Cove LNG project Bourbon reports increased revenues HASC passes FY 2008 Defense Authorization Act

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MAY 10, 2007
Yang Ming bringing larger vessels to Portland Corps plans closure of John Day navigation lock NYK takes delivery of new bulk carrier Seattle Propeller Club names Bottinger top official Transportation Services Index rolls to positive numbers in March

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MAY 10, 2007
AIG swoops for Marine Terminals AMERICAN International Group bolsters its burgeoning presence in the US terminals sector. AIG's $50m pledge ends New York row Witness 'baffled' by structural flaws to Erika RINA witness tells court it was unusual for such defects to be found on the vessel so shortly after undergoing special survey. GL goes on the offensive RECENT takeover target is now looking for acquisitions of its own with a sizeable war chest to spend. MSC Napoli offers salvage template FOUR months down the road, the MSC Napoli salvage is giving the industry a template for future containership casualties. Learning to recognise risk TARGETING 'high risk vessels' makes sense; not doing so would stretch the resources of inspectors to breaking point.

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MAY 10, 2007
GL is in a buying mood LONDON 10 May ' Germanischer Lloyd executive board member Dr Hermann Klein confirmed yesterday that the class society is on the acquisition trail Sheth cousins join hands for bid GE Shipping MD Bharat Sheth and his cousin, Great Offshore MD Vijay, have teamed up to bid for a mega ONGC contract despite their intense rivalry elsewhere Growing Teekay dips on rates TEEKAY Shipping's purchase of half of OMI's assets remains on track, while earnings fell on lower year-on-year rates in its spot tanker segment and higher costs Knightsbridge dabbles in dry KNIGHTSBRIDGE Tankers has revealed that long-discussed expansion plans will feature acquisitions in the drybulk sector Year's marine losses already at $600M LARGE marine losses for the first four months of 2007 are running about 50% higher than the corresponding period for last year, at $500M-600M EU penalty clauses worry GL Boxships slide hits 'K' Line Bill to promote reef damage payment Staten Island box terminal finalised Perkins expands at Townsville AIG adds Marine Terminals Corp

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MAY 10, 2007
Hamburg Süd leaving Los Angeles to consolidate calls at Long Beach terminal The German container line is switching calls in Southern California from Eagle Marine to ITS Terminals in Long Beach. MSC signs with Charleston Northwest says creditors approve reorganization plan Trade deficit surged in March MSC Napoli could refloat sooner than expected BNSF finalizes plans for KC logistics park Panalpina net doubles Japan counters U.S. report on trade barriers Larger Yang Ming ships begin to call Portland Tacoma named test center for intermodal radiation scanning PSA wins India port project

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MAY 10, 2007
Germanischer Lloyd posts good results Evergreen offers new Far East/southern Germany express link Schedule reliability gets even worse Kalmar takes automation to new level Waterfront buys Rental4000 management tool

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MAY 10, 2007
Bermuda risk triangle Crew crisis warning from Fred Robertie as owners, underwriters and brokers gather for TradeWinds Marine Risk Forum. Yes, we did... George Economou confirms DryShips has put out two of its panamaxes on short-term charters in the $45,000 per day range. TK jobs for OMI? Boss Bjorn Moller is sounding awfully covetous of OMI's suezmaxes and the people who run them. High Fidelity Giant US investor has taken a generous stake in the shares of the Economou family's new bulker company, Oceanfreight. Sovcomflot on the up Russian owner sees double-digit gains from 2006 on key benchmarks. First orders for Vadero Swedish owner contracts for four chemical tankers at Soli shipyard in Turkey. Another magic pipe Bypass found on bulker one of five OWS-related detentions in US last month, while Santoku Senpaku has double trouble. Euroseas files shelf for $200m Owner bigs it up on Nasdaq as Pittas family lays groundwork for wholesale cashout. Morgan Stanley takes Atrotos US trader to fork out $20,000 per day for Capital Products' MR delivery but with profit upside. Noble better by a quarter Hong Kong shipowner and trader adds 25% to first quarter net profit. Odfjell flips out Tanker owner logs $22m profit after buying and selling two modern chemical carriers in quick succession. Long Beach lets High Harmony in US port allows tanker to unload gasoline after initially barring it because of high oxygen levels in its tanks. Claims challenge A run of serious casualties is creating problems of many sorts for marine insurers, Paul Hinton warns at TradeWinds conference. Titanic troubles Reduced cover for a passenger shipping disaster could arrest the trend to ever bigger vessels. Another ferry merger for MOL Japanese owner's Diamond Ferry to swallow Blue Highway Line to improve efficiency. Remontowa builds on spec New type of multipurpose boxship produced by Polish yard for charter. Shinwa Naiko notches more Japanese coastal bulker owner builds annual profit as revenues climb. Shinwa soars Japanese tanker and bulker player is forecasting more improvement in current year after lifting annual profit. Bonny for Bonheur Bigger first quarter profit for Fred Olsen's holding company as cruiseship operations boost result. Teekay takes turn for worse US-listed tanker giant sees first quarter profit fall against background of weaker spot markets and higher expenses. Teekay LNG to hike dividend Investors facing the prospect of more money after new RasGas II ships and Dania Spirit lift earnings. Daiichi puts on profit Japanese bulker and tanker owner drives up revenues and earnings in year to 31 March. Iino falls again Japanese tanker owner cannot translate higher revenues into more profit in year to 31 March. Jurong inks a monster Singapore yard to build a harsh environment jack-up rig in addition to FPSO conversion for Petroprod. Aussies hold 14 Tomasos Brothers panamax among those held in March for oily water separator infringement. Maersk fixes AHTS pair Danish giant wins short term work for anchor handlers in Indonesia from Japanese oil company.

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MAY 10, 2007
Norden sale boosts TORM's 1st quarter profit Fourth shipping trust in Singapore may be coming from Japan Hapag-Lloyd president Mack retiring in July IATA chief outlines development hurdles for China aviation industry TIACA welcomes U.S.-EU open skies, hopes for air cargo liberalization Flyington Freighters dumps Boeing, commits to Airbus Continental starting New York/Mumbai service early AirBridge Cargo joins TAPA BA World Cargo names Garcia southern Europe commercial manager What happened to BNSF's empties? Central States to open trucking terminal in Rochelle, Ill. Wallenius Wilhelmsen inks deal with Mitsubishi Activant appoints Crusco new VP-CFO Panalpina sees profit jump 109% in 1st quarter Famous Pacific Shipping names East Trans as Turkish agents AIG Global set to buy Marine Terminals Corp. Houston, Galveston to develop new container facility Busan's container volumes rise 14% in April

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MAY 10, 2007
Väderötank orders in Turkey Rederi AB Väderötank, Grebbestad, Sweden, yesterday signed a series of 4 firm chemical tanker newbuildings in Turkey. The vessels are ... Eckerö raises bid for Birka Line Rederiaktiebolaget Eckerö has raised its bid for the outstanding shares in Birka Line. The company now offers EUR 17 instead ... Golden Ocean orders and sells capesize bulkers John Fredriksen controlled dry bulk owner/operator Golden Ocean has exercised an option for two 176,000 DWT, capesize dry bulkers ...

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MAY 10, 2007
Improved oil spill record for 2006 Both salvage cases and volume of oils actually spilled fell last year, bunker spills mostly small. Rotterdam barges very tight Pollution: Try simple solutions first Bunkerworld Forum hears call for speed reductions as a way of reducing emissions. Singapore: Residual fuel stocks at 11-week high HK watching Yantian competition The Chinese port of Yantian is emerging as rival to Hong Kong for bunker stems. K Line profit dented by fuel costs Net profit almost 20% down for its financial year ended March 31, 2007.