Rates for Mid-East cargo to Asia may fall for CNY The cost of shipping Middle East crude oil to Asia on the world's busiest route for supertankers may curb four days of gains as Chinese New Year approaches, curtailing cargo demand from the region's oil companies.
Baltic Dry Index up for 3rd day in London The Baltic Dry Index, a measure of shipping costs for commodities, rose for a third day in London on Friday as owners anticipated an increase in Chinese demand for iron ore. The index, which tracks transport costs on international trade routes, advanced 82 points, or 1.4 per cent, to 6,134 points, according to the Baltic Exchange. Rental rates gained for capesize carriers and panamax ships, the biggest vessels in the benchmark.
HHI, HMD kick off Feb with strong order flows HHI gets $840m contract to build six container ships and HMD signs $510m deal to build 10 product carriers.
HHI in buy back plan as results beat predictions
Oiltanking venture to invest $296m in Marseilles OILTANKING-Mediaco Marseilles will be building a terminal and storage deport for refined products at the Fos oil terminal.
DP World warns against Melbourne delay WITHOUT channel deepening, Port Phillip Bay would not be able to accommodate the larger ships, says Mr Jack Williams.
Time to rebrand the tanker THINGS have come to a pretty pass when professional seafarers will actively seek work on ships other than tankers because of the risks attached to their operation.
Troubles with timber THE timber-laden Ice Prince was a relatively modern, well-found ship and should not have met its end on the sea bed 68m down.
Master hurt as Reefer loses boxes Three crew have been injured ' one seriously ' after a container stack collapsed on a reefer vessel off southern Ireland
Keppel makes new deals KEPPEL Shipyards has secured global contracts bolstering its credentials in the process
Smit in overture to Riverdance salvage PRELIMINARY steps are being taken to salvage the 6,401gt ro-ro ferry Riverdance, which ran aground north of Blackpool this morning after being hit by a wave
Forth Ports rules out STS project A PROJECT using the Firth of Forth to transfer 8M tonnes of crude a year from Baltic sea tankers into larger VLCCs has been aborted by Forth Ports
Gold star revives trans-Taz service THE first dedicated trans-Tasman service for many years is being launched this week by Hong Kong-based Gold Star Line ' a newcomer to the NZ trade
Imarex adds Med Aframax route FROM today a new route is being added for trading on Imarex, the electronic freight derivatives market
An industry flawed? Marine underwriters and P&I Clubs regard the 2007 insurance year as one of the worst in history for losses, as they struggle to deal with a claims 'avalanche'.
CSAV Norasia launches fortnightly North Africa service
Hanjin's hapless year but hopes for better 2008
Nova Scotia box terminal financing agreement
Port of Hamburg boxes up 12%: closing in on Rotterdam?
Port of Antwerp's container market growth soars by 16%
Romeo loves Tzini Romeo Group reportedly takes a handymax bulker off the hands of Greece's Eastern Mediterranean Maritime, and a capesize is sold to unknown buyers.
Fredriksen in $65m resale Zhoushan Jinhaiwan kamsarmax newbuilding goes to Middle East buyer, brokers say.
Austal USA gets CFO Shipbuilder shipyard taps bank finance chief to watch over the books at the Alabama shipyard.
Fatigue linked to deadly fall A crewman who fell while climbing a ladder on an Australia-bound bulker may have been fatigued and distracted.
Horizon projects growth US containership owner expects at least 76.3% in EPS growth in 2008 as chief markets expand.
Three hurt on reefer The master's injury is labelled as serious after 60 containers fall overboard off the UK's Isles of Scilly.
Horizon profits flat US containership operator says fourth-quarter earnings are within expectations as an improved cargo mix offsets Puerto Rico's soft economy.
Glenda grabs ST three D'Amico and Glencore joint venture bags a trio of MR product tankers from ST Shipping.
Nomikos oldie sold Greek owner AM Nomikos said to have fetched $58m from Chinese player for 1988-built capesize.
Tidewater profit slides US offshore vessel giant's net earnings drop by 4.3% as vessel operating costs soar.
D'Amico banks sale cash Marco Fiori-led owner nets $23m gain from sale of product tanker to Bien Dong Shipping.
Craig goes to Spain Scottish offshore shipping group orders four ERRVs for delivery in 2010 and 2011.
Maersk adds Intra-Asia link Two panamax boxships will operate on new service connecting ports in Taiwan, China, and Hong Kong with the line's regional hubs.
Exmar sinks on red ink CMB spin off on the slide following its first three month losses since gaining independence in 2003.
Riverdance grounded Clipper-owned ro-ro washes up on Blackpool beach after being struck by a freak wave last night.
Hext bangs bulker drum Credit crunch a concern but China will keep dry-cargo engine running, Pac Basin chief says.
PSB lends for reefers Russian bank provides cash for Asirus Shipping to buy two units to serve Far East.
EMERA seeks rate rise Europe-Middle East conference slaps extra $100 on eastbound boxes to combat cost hikes and congestion.
Sanoyas earnings disappear Japanese bulker yard struggling to keep out of the red in first three quarters.
MNP ready to modernise Russian shipbuilding group lines up investment of RUR 160m this year, up 150% from 2007.
Keppel inks FPSO deals Maersk Contractors and BW Offshore award Singapore yard group floater work worth $215m.
UBS buys into Hanjin Heavy Investment bank takes 5% holding in Korean shipbuilder for investment purposes.
IHI lands bigger profit Nine-month operating losses masked by land sales at Japanese shipbuilder, but fourth quarter looks better.
Russia wants Nikitin Report claims extradition from UK being sought for owner pursued by Sovcomflot over commission deals.
Cargo Ferry in distress after cargo shifting Seatruck Ferries' freight ferry Riverdance, built 1977, got a severe list of up to 40 degrees after a cargo shift in rough weather on the Irish sea on Thursday night. The wind reached 27 metres per second and the waves ...
IACS refutes basis for EU investigation EU allegations of collusion between European members of the International Association of Classification Societies (IACS) as got the thumbs down from the IACS chairman Tor Svendsen. He flatly dismisses any suggestion that IACS is some form of cartel as defined ...
Greek ordering spree Greek owners ordered new ships for a total of USD 32 billion last year, double up compared to the year before. According to statistics from the Greek brokering firm George Moundreas & Co, 371 of the 556 orders were for bulk ...
US bunkers down with big oil drop Economic woes continue to worry crude markets, OPEC stays firm.
Weather forecasts to help cut fuel consumption BP Shipping using specialist weather information service to plan energy efficient routes.
'Great time' ahead for double hull barge owners Company president says Aegean will become the world's largest owner of double hull bunker tankers by 2010.
Salvage team to refloat stricken ferry Ship driven ashore on the UK coast has 150 mt of bunker fuel on board.
O.W. Bunker appoints new worldwide Trading Manager
Team expansion for O.W. Bunker South Africa
Rotterdam market softens
More support for emissions trading Research team says 'cap and trade' programmes and exhaust gas scrubbing have a role in reducing sulphur emissions.
Morgan Stanley acquires stake in Singapore supplier Global Energy International, one of Singapore's leading bunker suppliers, has gone into a strategic alliance with the US investment bank.
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