TUI posts higher Q1 loss of 166.8m euros TUI AG, the German tour operator planning to split off its Hapag-Lloyd freight line, reported a higher first-quarter loss after excluding earnings from the container shipping unit as discontinued operations.
Petrobras pushes oil rig rents sky-high Petroleo Brasileiro SA, Brazil's state-controlled oil company, leased about 80 per cent of the world's deepest-drilling offshore rigs to explore prospects including the Western hemisphere's biggest discovery in decades.
Hyundai Heavy gets 1.2b won in delivery bonuses Hyundai Heavy Industries Co, the world's largest shipbuilder, said that it received 1.2 billion won (S$1.6 million) in bonuses from clients for delivering vessels an average of about two months ahead of schedule.
Cosco Pacific eyes investment in US, Europe terminals
Economic slump, Internet challenge US Postal Service
Maersk Line stays in red AP Moller-Maersk container shipping arm loses $47m in first quarter despite higher cargo volumes and freight rates.
Analyst predicts two years in red for Maersk Line
Japanese owners in operating costs crisis SHIKOKU shipowner Sentoku Senpaku urges country's mega carriers to loosen stranglehold.
Thoresen Thai Agencies profit surges on dry bulk boom THE company is upbeat on the outlook for 2008, but has concerns about newbuildings joining the fleet in 2009.
Green recycling standard announced A GLOBAL ban on the beaching of condemned vessels by ship recyclers has been urged by Jim Puckett, a leading campaigner from the Basel Action Network (BAN).
Hansa Treuhand defies rate pressure HAMBURG KG house Hansa Treuhand is predicting another year of double digit returns for private container ship investors despite growing pressure on charter rates
UK MCA invites comment on transfer rules THE UK's Maritime and Coastguard Agency (MCA) launched a 12-week public consultation today on proposals for new legislation to regulate ship-to-ship transfer operations in UK waters
USS newbuilds still firm USS Products Investor, the joint venture between Blackstone and troubled US Shipping Partners (USS), is publicly insisting that its newbuild programme at NASSCO remains on track
Teekay announces 1Q results TEEKAY Offshore today reports a net income of $0.5M for 1Q08, compared to a net income of $6.8M for the same period last year
Iranian shipping firms get tax back IRANIAN companies involved in international transport and shipping are entitled to complete exemption from taxes on transit and export of goods from or through Iran to other countries.
Maersk Line trims losses in first quarter World's biggest container carrier cuts losses to $47 million from $198 million on higher rates and volumes, better cost controls.
Containerized exports surge at Los Angeles-Long Beach
Hapag-Lloyd net tumbles
TWIC sign-ups expanded
CMA CGM expands service to West Coast of S. America
Aegean profits grow Earnings pick up 14% at Aegean Marine Petroleum Network as sales boom.
FreeSeas estimates cut Cantor Fitzgerald analyst ratchets down 2008 earnings projection by 23.1% as the dollar and lube costs are expected to cut into profits.
Trailer Bridge sees red First quarter swings to a $1.82m loss despite volume and revenue increases.
PSV order lifts Wilson net Brazilian shipowner, builder and terminal operator Wilson Sons sees profit jump 10% after an order at its shipyard.
US Shipping rebounds New York-listed Jones Act player regains some losses in its share price after three days of declines.
Teekay spin-off barely sable US-listed Teekay Offshore Partners barely ekes out a profit as non-cash charges piled up.
FreeSeas' revenue doubles Despite first-quarter revenues surge, derivatives losses shrink US-listed bulker owner's profits sink to a penny per share.
London calling dry investors Globus Maritime leads the charge of the bulker owners, boosting its market value by more than a tenth.
Teekay Tankers in line US-listed Teekay Corp spin-off earns $14m in profits, within range of analyst expectations.
Knightsbridge feeling flush Tanker owner cashes in on strong VLCC rates as first quarter profits rise 52%.
Maersk tops a billion Three months, $1.05bn in profit. Danish giant pulls in more first quarter cash as oil prices rise and freight rates improve.
HMM bulks up Korean owner back in profit in first quarter thanks to bulkers, while boxships also improve.
Guangzhou returns to ro-ros Hong Kong-listed shipyard confirms return to ferry building with $300m order from a Chinese owner.
Fesco buys VCT Russian box line splashes cash to take control of expanding Vladivostok container outlet.
Hafen packs a punch Operator of Germany's flagship container port sees profits rise 27% in first three months of 2008.
Sanoyas smashes forecast Japanese shipyard's full-year profit rises 280%, beating its own estimates by a fifth.
Evergreen, Cosco split Gulf run Taiwanese box line and Chinese rival to offer independent Persian Gulf loops after ending joint service.
STX builds profit Korean shipyard hikes first quarter earnings as revenues jump 54%.
Bonds boost Berlian Indonesian tanker owner sees first quarter profit soar as it revalues debt issue.
Costs and currency catch Wilson Shortsea specialist's net profit slumps despite higher charter income from its larger fleet.
Sasebo spot on Japanese shipyard sees full-year profits hit its own expectations, with cash tipped to keep flowing for the next six months.
Skaugen offloads another pair Teekay to buy more gas ship newbuildings from Norwegian owner with lease backs attached.
Meiji on upswing Japanese owner predicting more growth this year after increasing annual earnings to 31 March.
Teekay LNG slips to loss Foreign exchange and interest rate swap losses also take their toll at LNG player Teekay Gas Partners.
Teekay's profits plunge US-listed tanker owner takes a hit from unrealised foreign exchange and interest rate swap losses.
APL bolsters Vietnam links Neptune Orient Lines' liner subsidiary to launch new service linking Vietnam, Taiwan and Singapore.
Solvang in Neu gas venture Gas owners team up on commercial management of two groups' fully refrigerated LPG vessels.
GL moved area office to Copenhagen Germanischer Lloyd (GL), the German classification society, has moved its area office from Stockholm to Copenhagen. GL wants to be as close as possible to its customers. ' The most customers in the Area Scandinavia are located in Denmark, said Rainer ...
Solvang and Neu forms gas company The gas carrier owner/operator Solvang ASA and Neu Gas Shipping have established International Gas Carriers (IGC) to be responsible for the commercial operation of the two groups' fully refrigerated LPG carriers. The ownership and technical operation of the vessels ...
Skaugen sells two gastankers I.M Skaugen Group (IMSK) has agreed to sell two multigas carriers, on 12,000 cmb, capable of carrying LNG, LPG and ethylene for USD 90 million to Teekay Corporation. The vessels are under construction with Skaugen Marine Construction (SMC) in China ...
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