Dongkuk Steel ups price of heavy plate to record Dongkuk Steel Mill Co, which sells 30 per cent of steel used by South Korea's shipbuilders, the world's largest, raised the price of heavy plate by 13 per cent as yards face record orders for vessels.
Former AP Moller veteran joins Thome Ship Mgt as MD Former AP Moller man Bjorn Hojgaard has been appointed managing director of Singapore-based Thome Ship Management with immediate effect.
Samsung Heavy Q4 net rises 84% Samsung Heavy Industries Co, the world's second-largest shipbuilder, reported an 84 per cent gain in fourth-quarter profit as it made more vessels to meet trade demand in Asia and Europe.
Singapore strengthens its naval force with three warships
Tanker rates may slip further
Strait Talk
Lloyd's Open Form, 100 years young IT HAS been a stormy few days around the coasts of northern Europe and several ships have got into trouble. One of them, the cargo ro-ro ferry Riverdance, got into trouble following damage caused by a very large wave. At one stage, the ship looked in grave danger of capsizing in the Irish Sea. Once again, helicopters from the UK and Ireland demonstrated their ability to rescue crew and passengers in horrendous conditions. Eventually, the ship was abandoned even by a core team of nine who stayed on to try to prevent the ship from running aground.
Dongkuk Steel ups price of heavy plate to record Dongkuk Steel Mill Co, which sells 30 per cent of steel used by South Korea's shipbuilders, the world's largest, raised the price of heavy plate by 13 per cent as yards face record orders for vessels.
Former AP Moller veteran joins Thome Ship Mgt as MD Former AP Moller man Bjorn Hojgaard has been appointed managing director of Singapore-based Thome Ship Management with immediate effect.
Samsung Heavy Q4 net rises 84% Samsung Heavy Industries Co, the world's second-largest shipbuilder, reported an 84 per cent gain in fourth-quarter profit as it made more vessels to meet trade demand in Asia and Europe.
Singapore strengthens its naval force with three warships
Tanker rates may slip further
Strait Talk
Lloyd's Open Form, 100 years young IT HAS been a stormy few days around the coasts of northern Europe and several ships have got into trouble. One of them, the cargo ro-ro ferry Riverdance, got into trouble following damage caused by a very large wave. At one stage, the ship looked in grave danger of capsizing in the Irish Sea. Once again, helicopters from the UK and Ireland demonstrated their ability to rescue crew and passengers in horrendous conditions. Eventually, the ship was abandoned even by a core team of nine who stayed on to try to prevent the ship from running aground.
Dingle warns Whitehall and Brussels to nurture shipping UK Chamber of Shipping chief says stability of Britain as a base for shipping business is being eroded.
EC tonnage tax proposal under fire
CMA CGM to boost Asia-North Europe capacity CARRIER set to start fourth FAL service in July this year and a fifth in in October 2009.
Golden President wins $15m case against Bocimar JOHN Fredriksen-linked ship-owning company wins profit- sharing case over bulker it chartered to Belgian firm.
Genoa port boss arrested The Port of Genoa's chairman has been placed under house arrest as part of an investigation into concessions received by terminal operators
Job cuts loom at Aker Helsinki AKER Yards Finland's orderbook is thinning rapidly, and one in five workers at its Helsinki yard could lose their job this spring
Irish Ferries in pay row A ROW is developing over the low rate of pay seafarers are earning on an Irish Ferries vessel that operates on a Rosslare-Cherbourg service, compared with those on its ferries sailing to the UK
Essar to raise $1Bn ESSAR Shipping is raising $1Bn from foreign investors through sale of equity and a quasi-equity route
Speakers clash over UK govt support THE UK Chamber of Shipping and the government's shipping minister found themselves at odds over government support at last night's annual dinner
China growth seen slowing in 2008 Global economic slowdown leads World Bank to cut growth forecast for Chinese economy to 9.6% percent, down from earlier forecast of 10.8%.
U.S. air cargo weakens
Maersk replaces Danish stewards with international crew
Global prices rise
Matson earnings up 5%
Great Lakes industry lambastes Bush budget proposal
Japan gives tonnage tax preliminary approval
Genoa port chief arrested
Inttra opens Thailand office
Cargolux expands services linking Hong Kong and Budapest
Hedge fund ups stake Giovine Capital Group reports a 12.9% stake in Nasdaq-listed bulker owner Star Bulk Carriers.
'A positive surprise' JPMorgan analyst says Alexander & Baldwin's shipping business was much more profitable than had been expected.
A&B still sees growth Matson Navigation parent expects earnings-per-share growth, despite challenging market conditions.
Saga slates Japanese brace Tonsberg-based company teams up with NYK to grab a pair of open-hatch bulkers.
Washington names ferry chief State governor hires veteran city manager to head up government-run ferry fleet.
Fixture carnival Analyst sees surge in capesize fixture volume out of Brazil, where iron ore exports have been sluggish.
Bush budget bashed Great Lakes maritime industry slams proposed cuts in infrastructure, including long-sought dredging funds.
Rubberneckers risk necks Tourists take to Blackpool beach to walk under dangerously listing ro-ro Riverdance.
Leopard in two-year fixture Deep Sea Supply AHTS goes to ENI Libya for about $34,100 per day in a deal worth $24.9m.
Matson profits up 5% Operational profit in Alexander & Baldwin's shipping business increases modestly as cargo mix improves revenue but costs dampen growth.
Ship missing in Red Sea Egyptian rescue vessels and airplane search for Sierra Leone-flagged vessel missing for several days.
Fredriksen bests Saverys Row over sharing of capesize profit adds to Norwegian tanker king's wealth.
Greens in fresh emissions plea Observing campaigners call for IMO to impose tough new laws to reduce emissions related death toll.
Rizzo on cape crusade MD of Italian owner Rizzo-Bottiglieri-De Carlini Armatori may be in hunt for six more capesizes after double order in China.
MMM denies cut-price sale Malaysian tanker owner sold Mauritius chartering venture for fair price, according to vice chairman.
Novi under house arrest Co-founder of Genoa broker Burke & Novi faces charges of fraud and extortion.
Maersk ditches Danes Container giant will axe up to 200 Danish seafarers and replace them with international workers in its latest round of cost cutting.
UK warns over rescue craft Accident probe reveals potential danger of release mechanism after Vroon crewman injured in drill.
Abu Dhabi eyes spending spree Emirates state will splash $28bn on improving infrastructure with $18bn set aside to increase refinery capacity.
CMES on the rise Better year for Chinese tanker owner as profit rises 5% in 2007.
Kherson denies re-privatisation Ukrainian shipbuilder slams 'blatant media lies' claiming it is set to return to state ownership.
Kuribayashi slides Japanese ro-ro owner can't turn higher revenues into more profit in first nine months.
Svitzer mum on pirate talks Danish operator of tug seized off Somalia not saying whether or not a ransom demand has been made.
Aussie ship fund delayed Credit crunch looks to have claimed another victim with Allco Finance Group postponing fund launch.
Red ink the only bright spot Oslo-listed chemical tanker owner Odfjell returns a full-year loss of $10m and is equally bleak about the coming year.
Samsung yards ahead Korean shipbuilding giant sees annual net profit skyrocket over three times due to expensive vessels.
Nepline swaps ships for shares Tanker owner splashes $9.9m to up its stake in subsidiary and cover the first payment on two Chinese newbuildings.
Wartsila powering ahead Ship engines made plenty of money for Finnish group in 2007, and 2008 looking good.
Bahamas signs on World's third-largest flag agrees to IMO conventions on anti-fouling paint and bunkers.
Donbas lines up Gdansk cash Ukrainian steel group to plough $289m into modernising Polish yard it is close to controlling.
Stena Arctica reflagged The 117,000 DWT Aframax tanker Stena Arctica, which is jointly owned by Stena Bulk and Neste Shipping, changed from Swedish to Finnish flag on February 5. Neste Shipping also takes over the management of the vessel. The 250 metres long ...
Zhen Hua pulled of the beach of Maasvlakte The underwriter and the port authorities in Rotterdam are now able to breathe easy again as the heavyweight carrier Zhen Hua 10 was pulled off the beach at Maasvlakte outside Rotterdam last night, where it had been stranded since last ...
Green light for cross-border maritime union 82.6 per cent of the members of the British maritime officer union Nautilus UK (formerly Numast) have voted in favour of a merger with the Dutch sister organisation Nautilus NL (formerly FWZ). The members of the Dutch organisation had ...
Consolidation boosts NuStar's future Internal changes as year-end results released.
Bunker prices cast shadow over 2008 prospects Norwegian chemical carrier Odfjell blames bunker costs for weak fourth quarter results and says full costs still 'weigh upon us'.
IMAREX fuel oil swaps 'integrated' with FFA broking New approach to bunker fuel futures after months of diminishing trading volumes.
Tanker crew illegally selling bunkers to fishing fleets Indian customs officials charge two Indonesian seamen after $116,000 found on board.
Japan softens on improved supply outlook Prices fall after refinery announces normal monthly deliveries, but spot supply remains difficult.
State refiner faces fuel oil surplus PDVSA expected to boost fuel oil exports East Asia.
Close range in Rotterdam barge market at noon
Singapore: Residual fuel stocks retreat Residual fuel stocks down from last week's all-time high of 16.2 million barrels.
Mixed supply picture across Asian bunker markets Singapore soft and well supplied ahead of Lunar New Year market closures.
OPEC output options remain open in March After rejecting calls for more oil last week, OPEC officials say it is too early to predict outcome of meeting next month.
Bunker firm defaults on payments Several Singapore bunkering companies have stopped dealings with a bunker trader after it defaulted on payments.
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