STX Pan Ocean's Q1 profit soars to US$285m STX Pan Ocean Co, South Korea's largest bulk shipping line, said that first-quarter profit surged almost five-fold as demand for transporting raw materials to China allowed it to boost prices.
Shell hires tankers to ship jet fuel to UK Royal Dutch Shell plc, Europe's biggest oil company, has hired two tankers to transport 140,000 tonnes of jet fuel from Asia to the UK after a strike at a refinery in Scotland cut supplies.
TUI cuts operation losses on shipping activity The biggest European travel company TUI yesterday said it had slashed an operating loss during the first quarter with a strong performance from its shipping operations.
Tui management slammed over 'strategic U-turn' GLOVES come off at AGM as John Fredriksen's right hand man Tor Olav Troim blames Tui managers for sluggish financial performance.
Tui moves to fend off Fredriksen bid
Fears mount over refund guarantees at Korean yards PROBLEMS in securing shipbuilding refund guarantees could now become a major issue for new South Korean and Chinese yards
Clarkson contacted by FSA SHIPBROKER and UK Financial Services Authority exchange correspondence over alleged delay in reporting $71m Russian claim.
Battle over Hapag future escalates TUI chief executive Michael Frenzel is facing a major challenge after a clash with shareholders today over the group's exit strategy for Hapag Lloyd.
More MARAD defaults on horizon? AMBASSADORS International could potentially default on two US Maritime Administration (MARAD) Title XI loans if it cannot find buyers for its Majestic America Line assets
US river fleet on the block AMBASSADORS International hopes for an orderly but swift sale of the seven vessels of its troubled Majestic America Line, a brand that dominates the US river cruise sector
US bearish on tanker imports THE US oil demand forecast has been cut in light of "the economic slowdown and high petroleum prices", while a much sharper drop is foreseen on the LNG front
'No bribery' says Hanjin probe THE TASK force investigating the bribery-extortion claim and counter-claim in the Hanjin Heavy Industries & Construction shipyard project in Northern Mindanao, Philippines, has found no evidence that bribery and extortion took place
SNRH still victim of politics THE French offshoot of a Dutch towage company can finally start working in Le Havre after winning the eighth lawsuit in a row trying to stop it
Work on HHI shipyard starts THE GROUND BREAKING of Hyundai Heavy Industries' Gunsan shipyard started today.
Weak peak container traffic forecast Cash-strapped consumers, cautious retailers and record oil prices likely to drive down box volumes at major U.S. import gateways.
Battle over Hapag-Lloyd at shareholders' meeting
Jones Act probe to include Alaska, Hawaii, Guam
Congressman: Pump $1.5 trillion into infrastructure
Feds seek more time in ILA RICO case
Customs Update: Travel and laptop computer searches
Aker wins rate cut Top shipbuilder secures premium reduction despite needing cover for world's most costly vessels.
Argentina talks break down Farmers strikes that put the brakes on Argentine grain exports, and put pressure on dry-bulk rates, are "imminent".
Scary scenario Human error related claims are rising at an unprecedented rate warns Arne Birkeland.
American Club in surplus Joe Hughes reveals he will have good news come the annual meeting in June.
Eagle to soar in 2009 After latest big fixture pushes stock near its all-time high, analysts boost profits estimates for Sophocles Zoullas-led Eagle Bulk Shipping.
Teekay Offshore to float Teekay Corp offshoot files a shelf registration to gradually issues up to $750m in shares.
Marine hat trick Singapore underwriters add Pertamina and PT Arpeni gains to the Evergreen success.
Log-In in dry-bulk deal Brazilian coastal shipping player to book two bulkers to haul 12 million tonnes of bauxite ore for 20 years.
Row at TUI meeting Reports indicate the shareholders meeting at TUI turned contentious as Fredriksen's right-hand man criticised management.
Majestic's loss shrinks Operating results for Ambassadors International's cruise line improve by 6.9%, and Windstar Cruise Line adds $19.4m.
Eagle charter lifts shares New York bulker owner grabs a one-year deal at a higher rate for the supramax Kittiwake, and the company's stock jumps.
Mona Lisa evacuated Passengers taken ashore from cruise ship stranded off Latvia after Monday's salvage effort fails.
Finance costs hold back Finnlines Non-operating expenses push down first quarter profit at Finnish ro-ro owner, but freight and passenger volumes up.
Barge player at top of range After giving warnings of EPS in the 'low single digits', American Commercial Lines posts $0.05 in per share earnings.
BV boosted by newbuildings Class society's marine division helps swell overall revenues by nearly a fifth.
Greatship back at Colombo Indian owner bags a brace of offshore vessels at Sri Lankan shipyard.
Full ahead for GL German class society builds 2007 revenue and hopes for more growth this year.
Fredriksen ups the ante TUI's number one shareholder ready to snap up 10% stake of nearest rival Alexei Mordashov ahead of crucial vote.
Arms ship leaves Luanda ITF says Cosco cargoship did not unload weapons intended for Zimbabwe, and has taken on more fuel.
Mixed bag hurts Odfjell outlook Norwegian shipowner's full-year forecast is lowered by over $0.50 per share after profits halved in the first quarter.
SembCorp keeps costs down Singapore yard group manages to boost first-quarter profit as costs fall further than revenues.
STX Pan Ocean posts record Korean bulker giant posts huge first quarter gain on the back of Chinese demand.
Ezra at the double Singapore owner orders two anchor-handlers at domestic yards for delivery in 2009, 2011.
Dehn: lock-in bunker costs now OW Bunker's risk management chief urges suffering owners to take control of rising fuel prices.
Deep Sea goes long Oslo-listed offshore owner fixes four units on period deals to reduce exposure to stormy North Sea spot market.
Greek blows whistle on whistleblowers Technomar hits out at crew saying "strained relationship" with engineer led to allegations of pollution from MSC-chartered ship.
Lloyd Fonds in the red Lack of products leads to drop in placed equity and loss in first quarter but German fund manager remains bullish on year ahead.
Strong start for Wilhelmsen Operating profits rise 12% on higher cargo volumes and greater demand for maritime services.
Frenzel favours sale TUI chief believes swift disposal of Hapag-Lloyd is best option, as container line's first quarter profit rises.
Braemar broking booming UK shipbroker boosts annual earnings as sale and purchase and chartering volumes increase in good markets.
Red ink for Aker Oslo-listed shipyard group's first quarter losses reach $8.08m despite improved showing from its offshore division.
Blaze hits Russian yard Major fire destoys part of assembly plant at Zvezdochka facility in Arkhangelsk.
Stena exercises options Swedish owner extends charters of panamax and product tankers from US-listed spin-off Arlington.
Mercator sees profits surge Fleet expansion plus buoyant freight rate environment help to boost results at Indian spin-off.
Sinwa inks barge deal Singapore marine supply company to build 300 man accommodation unit at Malaysian shipbuilder.
DFDS sells four trampships DFDS Group has sold its four tramp vessels from DFDS Lisco in Klaipeda. The four ships have been for sale since the autumn, when it was decided that tramping no longer should be part of the DFDS strategy. The four ...
Norwegian campaign to ban the use of fast rescue boats at sea A campaign conducted by Norsk Sjøffisersforbund for having a ban on transfer of personnel at sea with fast rescue boat will not have any effect on Esvagt, the Danish standby ship operator. "We are very much aware of the development ...
Norden calls for extra ordinary general assembly Dampskibsselskabet "NORDEN" has called for an extraordinary general assembly on May 28, 2008, to seek confirmation for a number of changes in the company. One of them is the change of name from Dampskibsselskabet "NORDEN" to Dampskibsselskabet NORDEN. The old ...
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