Virgin Blue posts 55% fall in 2008 profit Virgin Blue Holdings Ltd, Australia's second-biggest airline, reported a 55 per cent fall in 2008 profit on high fuel prices yesterday, cut its dividend and painted a gloomy outlook, sending its shares tumbling 15 per cent.
Texas offshore pipeline to open in 2010 An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 per cent of the United States' daily imported oil.
Navy shipbuilder pays US$4m to end fraud suit General Dynamics Corp, the second-largest shipbuilder for the US Navy, agreed to pay US$4 million to settle a lawsuit claiming a unit, now closed, fraudulently billed the government for aircraft parts that were defective.
Strait Talk
War risk pay issue in the spotlight THE recent conflict between Russia and Georgia was over very quickly and, thankfully, it looks as though the fragile ceasefire in place may hold. The major Georgian port of Poti was badly damaged and, it is reported, 10 dockers were killed in bombing raids.
Virgin Blue posts 55% fall in 2008 profit Virgin Blue Holdings Ltd, Australia's second-biggest airline, reported a 55 per cent fall in 2008 profit on high fuel prices yesterday, cut its dividend and painted a gloomy outlook, sending its shares tumbling 15 per cent.
Texas offshore pipeline to open in 2010 An oil terminal and pipeline network expected to be built off the Texas Gulf Coast and open in about two years would be capable of handling nearly 20 per cent of the United States' daily imported oil.
Navy shipbuilder pays US$4m to end fraud suit General Dynamics Corp, the second-largest shipbuilder for the US Navy, agreed to pay US$4 million to settle a lawsuit claiming a unit, now closed, fraudulently billed the government for aircraft parts that were defective.
Strait Talk
War risk pay issue in the spotlight THE recent conflict between Russia and Georgia was over very quickly and, thankfully, it looks as though the fragile ceasefire in place may hold. The major Georgian port of Poti was badly damaged and, it is reported, 10 dockers were killed in bombing raids.
SYMS pullout drives up China-Japan rates LINE temporarily halts its container services, sparking a rate hike on the China-Japan trade.
SYMS' and Grand China's lips are sealed on share deal
Warning of legal pitfalls as liner upheaval looms LAWYER says lines may have been better off without EC guidelines when conference system comes to an end.
Norway claimants win extra payout VICTIMS of boiler explosion on cruiseship have won an additional $7.4m in restitution from Norwegian Cruise Line.
Georgia fighting confuses markets CONFLICTING reports about the Russia-Georgia conflict highlight the uncertainty hanging over the Black Sea/Mediterranean tanker market
Parcel tanker seized by pirates The Bunga Melati Dua, a 22,254 dwt parcel chemical tanker owned by MISC, is being hijacked in the Gulf of Aden by Somali pirates
Lines scrap bunker surcharge THREE shipping lines have removed the emergency bunker surcharge that drew heated Asia-Pacific criticism
Canada keeps an Arctic ear out CANADA has a new electronic ear on the Northwest Passage
NCL to pay more for fatal blast A US JUDGE has ruled that NCL must pay nearly $8M more in restitution for the May 2003 boiler blast on Norway that killed eight crew and seriously injured 10
Navigazione board accepts buyout NAVIGAZIONE Montanari's board has accepted an offer from majority shareholder G&A Montanari to buy out the other stockholders
ATA presses FMC on clean-trucks plan The trucking association urged the commission to use its authority to review the legality of the LA-Long Beach program.
USA slams down on Russian blockade in Georgia "It's just bizarre that naval forces are blockading a sovereign independent country", says the American envoy Matthew Bryza to Reuters, and demands that the Georgian infrastructure is opened up. Russia denies any blockade but says that they have peace-keeping ...
Sovcomflot becomes SCF Group Sovcomflot will change the group's structure to separate the port businesses from other business areas. In October the new structure will take form, when every subsidiary in SCF Group will add SCF to their company names. Thus the group's shipping ...
Farstad Shipping signs charter agreements Farstad Shipping has signed a three year contract with Marathon Norway for the supply vessel Far Service. The contract starts in August as a continuation of the existing contract. For the supply vessel Far Splendour has Peterson SBS Den Helder ...
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