Ship order cancellations propel freight cost surge The biggest shipbuilding boom in history collided with the largest credit-market losses ever, undermining forecasts for a plunge in freight rates.
FSL Trust in US$210m sale-and-leaseback deal First Ship Lease Trust trustee-manager FSL Trust Management has struck a conditional agreement to acquire three container vessels from Yang Ming Marine Transport Corporation for US$210 million.
MISC's Q4 profit rises 10% Malaysian liquefied natural gas carrier MISC Bhd reported a 10 per cent jump in fourth-quarter net profit yesterday, boosted by its heavy-engineering unit and offshore businesses.
Activist fund targets Top Hedge fund QVT Financial has levelled conflict-of-interest accusations against the board of Top Ships.
Markets react to striking farmers AS THE farmers' strike in Argentina resumes, shipping markets are starting to experience renewed impacts including both positive tonne-mile effects and negative triangulation issues
Bulker buys bolster Genco fleet GENCO Shipping & Trading has confirmed the purchase of three 2007-built bulkers from Bocimar International and Delphis for $257M
Putin bullish on Russian oil THE NEW Russian prime minister Vladimir Putin has triggered a stock market upward charge on talk of reducing taxes for the country's gas and oil producers
Bunker suppliers get cash aid SINGAPORE is offering financial assistance to all bunker suppliers in a bid to ensure their compliance with the SS 524:2006 rule
Operator makes cabotage comeback BRAZILIAN port terminal operator Grupo Libra could make a surprise return to the cabotage and coastal trades.
Harbor commission set to consider Port of Los Angeles clean-trucks plan Commssion this week to take up the port's long-awaited clean-trucks plan and requirement for employee drivers.
Ultrapetrol profits surge US-listed South American owner sees big revenue and profits gains amid strong demand.
NAT goes to market Herbjorn Hansson-led Nordic American Tanker Shipping offers 4.6 million shares in issue worth $184m.
Shipping bulls lead Monday rally Mostly bulker owners head upward in a positive day on Wall Street.
Buys boost Peter G outfits Cantor Fitzgerald analyst hikes estimates for Peter Georgiopoulos' General Maritime and Genco after recent vessel purchases.
FMR ups Ultrapetrol shares US investment advisor lifts holding in South American owner to more than 10%.
Top board under attack Disgruntled shareholders demand substantial change following "history of poor operating results" and dealings which were 'destructive to shareholder value.'
Fund's Horizon stake swells Boston fund manager has accumulated a major minority chunk of the New York-listed containership owner's shares.
Nikolaos P in Pakistan pickle Euroseas-operated bulker held in Karachi as charterer Reliance cries foul over fertiliser.
MSC duo on Aussie list Two of Switzerland-based owner's boxships among 19 vessels detained during April.
Gearbulk thwarted Shipowner fails to persuade London high court it is entitled to $120m damages over cancelled ships.
Ship sharing? Teekay insurance chief Dev Hildebrand mulls merits of radical shake up of P&I cover.
Horizon hikes surcharge US containership owner bumps fuel surcharge for Hawaii and Guam by 1.5 percentage points.
A fridge too far? 'Empty' fridges push Filipino crew over the edge while Russians and manager point to adequate food supplies.
Genco confirms Bocimar buys Georgiopoulos- controlled owner will pay Belgian rival $257m for two panamax bulkers and a supramax.
Five crew missing in China Cargoship reportedly sinks while loading stones in Leqing Bay, but six seafarers rescued.
Clausius takes three First Ship Lease picks up trio of Yang Ming newbuildings in $410m sale-and-leaseback move.
India bans veterans Chartered ships older than 25 years will not be welcome in coastal trades during monsoon season.
IRISL launches Cuba run Iranian owner emerges as force behind new link to Caribbean and South America.
Arpeni wants quartet Indonesian tanker and bulker player lining up four ship deals this year at cost of $180m.
Miclyn eyes home listing Offshore owner and shipbuilder looking to raise $200m from Singapore float in the second half of 2008.
Li's bid gets dosed up Greek pharmaceutical giant part of Hong Kong billionaire's three-pronged offer for boxship activities at Piraeus.
Malta Shipyards under scrutiny Government to verify Dutch conversion contracts that have left struggling yard "at a disadvantage."
Worker dead in Tuzla blast Five more injured after explosion in engine room of vessel being built at Selah shipyard in Turkey.
Ananda adds four more Bangladeshi shipbuilder to deliver multipurpose vessels to Lohmann of Germany in 2011 and 2012.
Azuma edges up Japanese bulker owner posts better annual profit but predicts leaner year ahead.
Great Offshore to buy SeaDragon Indian owner close to $1.4bn entry into rig ownership with takeover of Cayman Islands-based player.
Cosco inks monsters Chinese shipping giant puts pen to paper on series of 13,500-teu boxships and VLOCs at NACKS.
Inui up but downbeat Annual profit soars at Japanese handysize specialist but prospects no so hot for coming year.
Dry costs dear Containership loss set to be second biggest P&I claim after the Exxon Valdez, warns Paul Hinton.
Maersk cuts down on Brazil Liner giant is paring back its coverage of the Latin American market due to poor vessel utilisation.
Cautionary tale It pays to choose your underwriter carefully warns McDermott's Timothy Woodard.
New terminal in the Port of Muuga The board of Port of Tallinna (AS Tallinna Sadam) has now approved the construction of a new terminal area including 400 metres of quayside in the Port of Muuga. The terminal will have a capacity of 500,000 TEU. The price ...
Tesoro posts first quarter loss Refiner and marketer seeing revenue gain but failing to post profit result.
Bunker market report from Praxis
Scottish fishermen warn on fuel cost implications Say quotas could be lost to foreign fishing fleets as high fuel costs prevents Scottish ships from putting to sea.
Marshall Islands accedes to five major IMO Conventions
Clouds gather as bunker prices soar Growing concern that bunker price pressure will contribute to cyclical downturn for shipping.
New tanker coating to cut fuel consumption Nippon Paint's latest product expected to reduce fuel consumption by 4%.
Singapore suppliers to get help with certification costs
Singapore 380cst may reach $700 pmt by year-end Prices up 68% from a year ago.
Bunker buyers need to 'deal with risk exposure' O.W. Bunker says some ship operators are taking 'unnecessary risks'.
Newbuilding design exceeds IMO requirements Design of new panamax tanker for Marinvest focuses on 'care for the environment'.
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