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Hutchison Port H1 earnings rise 10%
Hutchison Whampoa Ltd, parent of the world's largest container terminal operator, said first-half profit at its ports unit climbed 10 per cent as growing global trade boosted sea-cargo volumes.
Cosco Pacific H1 net profit rises 8.9%
Cosco Pacific Ltd, Asia's third-largest container terminal operator, yesterday said that first-half profit rose 8.9 per cent, helped by China's surging exports of toys, clothes and other goods.
Freighter owner IMC pleads guilty in Alaska grounding
The owner of the freighter that spilled tons of soya beans and 1.3 million litres of fuel off an Aleutian Island nearly three years ago pleaded guilty to three misdemeanour federal counts.
Sydney-bound Indon navy ship runs aground on Queensland beach

Admiralty Casebook

Subrogation rights do not trounce arbitration clause
A COURT in England has warned a Chinese insurance company against defying an anti-suit injunction restraining proceedings in a Chinese court, ruling that the order, if disobeyed, could give rise to potential consequences for contempt of court.

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Shipping News

Hutchison Port H1 earnings rise 10%
Hutchison Whampoa Ltd, parent of the world's largest container terminal operator, said first-half profit at its ports unit climbed 10 per cent as growing global trade boosted sea-cargo volumes.
Cosco Pacific H1 net profit rises 8.9%
Cosco Pacific Ltd, Asia's third-largest container terminal operator, yesterday said that first-half profit rose 8.9 per cent, helped by China's surging exports of toys, clothes and other goods.
Freighter owner IMC pleads guilty in Alaska grounding
The owner of the freighter that spilled tons of soya beans and 1.3 million litres of fuel off an Aleutian Island nearly three years ago pleaded guilty to three misdemeanour federal counts.
Sydney-bound Indon navy ship runs aground on Queensland beach

Admiralty Casebook

Subrogation rights do not trounce arbitration clause
A COURT in England has warned a Chinese insurance company against defying an anti-suit injunction restraining proceedings in a Chinese court, ruling that the order, if disobeyed, could give rise to potential consequences for contempt of court.

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UASC newbuild construction begins Ningbo Southeast handles 200,000 TEU in H1 Prince Rupert takes delivery of three post-Panamax cranes P&G to slash inventory levels Apollo Zhou to head ICTSI's Chinese terminal Ningbo FTZ to expand logistics warehouses Delta names Richard Anderson to lead airline Egsac handles more freight in '06 Alteon to open first pilot-training centre for 787 in Shanghai

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Crude transport rates on Gulf-Asia route set to boom Shipping cos riding global freight boom'Baalu Chinese prefer iron ore from India now Australia, India may conduct feasibility study for FTA CEPA talks with Japan to conclude in December-Kamal Nath Basmati not an issue with Pak, says Minister Imported pulses set to be unloaded in market Kamal Nath asks Japan to shoulder bigger role in core sector development Report on MCA for PPP port projects may be ready in fortnight Deep-sea port project in Bengal cleared CONCOR to run fixed-day service from RCT-Vadodara to JNP Warehousing Bill passed Freight trucks to roll in & out of Pak from Oct. 1 Smooth freight flow seen key to effective cost savings Minister: Textile exporters will benefit from revised DEPB, drawback rates Import duty on scrap steel likely to go

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AUGUST 23, 2007
Better figures for Odfjell Korea Line stake sale boost Golar Stena orders at Samsung Horizon buys logistics company

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AUGUST 23, 2007
NASSCO and Navy reach agreement on T-AKE options $780 million in orders for COSCO Shipyards L&T books more RO-RO/LO-LO's

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AUGUST 23, 2007
Port of Everett taps Olson as new marina director Vessel hit with $10 million penalty for illegal discharge in wildlife refuge Dave Hunt to be guest speaker at Columbia River Propeller Club meeting Horizon Lines buying San Francisco logistics firm Department of Commerce adding website to monitor steel trade data

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AUGUST 23, 2007
Fredriksen stake sparks fresh talk of Tui split TYCOON takes 3% stake in Tui, fuelling fresh speculation about possible break-up of Hapag-Lloyd parent. Pressure on Tui to split tourism and shipping Pirates release Danica White SOMALI pirates free hijacked vessel and crew after a ransom was paid. PSA claims victory in Tuticorin tariff battle INDIAN High Court said to have ruled in favour of blocking port tariff being slashed by 54%. Celtic tiger finds its sea legs IRELAND is ready to invest heavily in maritime research and training. A cure for ailing yards EUROPEAN shipbuilding, with a few exceptions, is facing a crisis of confidence.

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AUGUST 23, 2007
NCL pares back losses NORWEGIAN Cruise Line (NCL) is still losing money, but has improved results through lower costs per berth-day and higher capacity Two bidders for Indian yard ABG Shipyard of Mumbai and Elecon Engineering have bid for Alcock Ashdown, a shipbuilding company owned by government of Gujarat Golar propped by Korea Line sale A significant profit from the sale of its holding in Korea Line has helped Golar LNG to report record quarterly net profit Korea awaits Japan steel price hike KOREAN shipbuilders are bracing themselves for a leap in steel plate prices from Japanese steel makers. Profit surge predicted by DFDS DFDS, the Danish cruise and freight ferry group, has raised its forecast for full year profit by almost a fifth as a result of a strong first half. UK meat and livestock exports resume THE EU has agreed UK meat and livestock exports can resume following this month's foot-and-mouth disease outbreak. PSA/TPT told: 'eight weeks or else' Ships confirmed missing off Somalia Dean batters Maritime Institute Carnival funds St Maarten expansion Jaya sells for profit Thome wins Vanguard FPSO contract Yantian drives Hutchison growth Strong year ahead for Odfjell Denmark calls for action as hijacked ship freed

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AUGUST 23, 2007
Horizon Lines acquires Aero Logistics Largest Jones Act carrier acquires Aero Logistics, a full-service, third-party logistics provider headquartered in San Francisco. Shippers hit passport rule Mexico sets 24-hour rule Hapag-Lloyd to end West Africa Express service Intermarine announces general rate increase Hutchison port earnings up British Airways pleads guilty to price-fixing Houston move for Intermarine New service to boost Chennai to 1M TEUs India consolidators set rate increases Bromma wins Mideast sales

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AUGUST 23, 2007
Santos terminal Libra set to 'do a deal' with Codesp CSAV Norasia ends deal with Zim Maersk/Safmarine to add Far East/West Africa link Indian port workers threaten strike from September 1 Hapag-Lloyd to buy slots from CSCL/Zim on Europe/West Africa trade

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AUGUST 23, 2007
AMO fight 'far from over' Dissidents in a US officers' union have survived an attempt to have their federal case against leadership thrown out. Premuda deals four Italian shipping company expects $21m profit on Vietnamese bulker newbuildings. Broker covenant fails Careless words stop Seabrokers delaying key employee move to Braemar Seascope. Horizon expands logistics US boxship owner snaps up San Francisco specialist Aero to augment new subsidiary. Union slams kidnap talks Danish union attacks government, owner and insurers over handling of 'forgotten' crew of Danica White. Jaya jumps Annual profit grows through higher offshore day rates for Singapore owner's fleet. Costs take toll at Belships Oslo-listed bulker owner reports reduced second-quarter income as finance costs show reverse. DFDS feeling fine Passenger numbers and freight volumes up in first half for Danish ro-pax player. Up down quarter for Euroseas Revenues rise but net profit falls on missing disposal gains at Aristides Pittas-led owner. FreeSeas back shopping US-listed Greek bulker owner snaps up 1995-built handysize a month after letting two purchases slide. Neste notches bigger profit Finnish tanker owner enjoyed better freight rates and the benefits of bigger fleet in first half. Norden hails record result Huge revenues and profit for Danish bulker and tanker owner in strong first half. Cosco bags 16 ship order Cosco Shipyard Group takes orders for 16 supramaxes worth $623m from Greek and other owners. Fredriksen in at TUI Norwegian owner now holds more than 3% of Hapag Lloyd parent, but 'will not force break-up' of assets. Seismic sale boosts Rieber Norwegian subsea and seismic owner sees second-quarter profit soar on back of Arrow Seismic share sale. Zim makes $51m off duo sale Identity of buyer not revealed as board of Israeli owner approves sale of two boxships for $112m en bloc. Jinhui takes supramax resale Bulker owner spends $59m on unit under construction in Japan from Xing Long Maritime. KLC sale soothes Golar Norwegian gas ship owner records bumper second quarter thanks to huge net profit from sale of Korea Line stake. Samsung wins more ferries Korean yard muscling in on passengership sector with deal for two luxury vessels for Stena. Odfjell faces Sevmash delay First in series of eight chemical tankers being built in Russia will be up to nine months late. Braila in spot of bother Losses widen during first half at Aker Yards' Romanian outpost. Russian yard mulls loan Novorossiysk Shipyard shareholders to decide on credit offer from the city's port operator. L&T bags brace Dutch owner RollDock returns to Indian yard Larsen & Toubro with $70m order for two semi-submersibles. IHI converts for more capacity Japanese shipbuilder to turn repair dock into construction facility in Yokohama. Danica White released Cargoship and crew held in Somalia since early June are set free according to Danish officials.

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AUGUST 23, 2007
Ballmer: "Not one piece of automation" Angelo is new Intertanko deputy MD Horizon buys 3PL Aero Logistics Ship Finance reports lower earnings Teamsters look to litigate over DOT Mexico/U.S. cross-border truck plan FedEx announces expansion on Mexican border Dodd puts more pressure on China imports Chinese government throws product safety issues back at U.S. again China to soon pass Japan as third-biggest U.S. export market DHL, India Post mulling tie-up Lawmakers seek more oversight of radiation portal monitors Calif. budget passes with transportation and pollution caveats Holt proposes expansion into Camden, N.J. Vancouver, Wash. residents easily defeat increased port tax Three Middle East ports place contracts for Bromma spreaders

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AUGUST 23, 2007
Stena orders ro-pax pair in South Korea Stena Line has ordered two ro-pax vessels from Samsung Heavy Industries in South Korea in a close to SEK ... Danica White free after 83 days off Somalia Yesterday at 16:25 Danish time the crew of Danica White as well as the ship were released by the ... Stronger Viking Line result expected Viking Line Abp's result for the first half of the year has continued to be positive. According to the company ...

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AUGUST 23, 2007
Near miss from fuel spill Diesel evaporating quickly as clean-up crews assess impact on maritime reserve area. Total expands low-sulphur fuel network Responds to demand by putting LSFO barge into service at French Atlantic port south of SECA border. Monjasa continues to grow Company plans to double Denmark trading staff and expand delivery fleet in the UAE. Rotterdam market remains stable Singapore power utility sets up oil-trading company New unit 'strategically positioned' to make 'inroads into bunkering' and fuel oil trading. Addax resumes bunkering in Senegal Dakar bunker terminal back in operation offering marine gas oil and intermediate fuel oil.