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GE Aviation plans US$30m expansion of Singapore facility
GE Aviation is spending US$30 million to expand its Singapore-based aero engine overhaul facility. The expansion will position GE Aviation Service Operation (GEASO) to more than double its revenues over the next five years, according to Scott Donnelly, president and CEO of GE Aviation.
MISC Q3 profit drops 53% as operational costs rise
Malaysian shipping line MISC Bhd reported a 53 per cent drop in third-quarter profit yesterday, dragged down by higher operational costs arising from escalating bunker prices.
Shipping cost for commodities poised to rise
The cost of shipping commodities such as iron and wheat around the world is almost certain to increase due to demand from China, India and emerging economies and thanks to port congestion in major exporting countries.

Admiralty Casebook

English law principles sink suit
THE owners of a vessel that waited too long to seek an anti-suit injunction to restrain proceedings in a Belgian court have failed to have the injunction extended even though the charterparty provided for disputes to be resolved by arbitration in London.

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Shipping News

GE Aviation plans US$30m expansion of Singapore facility
GE Aviation is spending US$30 million to expand its Singapore-based aero engine overhaul facility. The expansion will position GE Aviation Service Operation (GEASO) to more than double its revenues over the next five years, according to Scott Donnelly, president and CEO of GE Aviation.
MISC Q3 profit drops 53% as operational costs rise
Malaysian shipping line MISC Bhd reported a 53 per cent drop in third-quarter profit yesterday, dragged down by higher operational costs arising from escalating bunker prices.
Shipping cost for commodities poised to rise
The cost of shipping commodities such as iron and wheat around the world is almost certain to increase due to demand from China, India and emerging economies and thanks to port congestion in major exporting countries.

Admiralty Casebook

English law principles sink suit
THE owners of a vessel that waited too long to seek an anti-suit injunction to restrain proceedings in a Belgian court have failed to have the injunction extended even though the charterparty provided for disputes to be resolved by arbitration in London.

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Hyundai Merchant Marine's biggest containership completes maiden voyage Qingdao port sets new container operation world record Hapag-Lloyd, Hamburg Sud leave Epic as CMA CGM goes it alone Teamsters await court ruling on cross-border truck pilot Australian container volume falls 3.6pc at five major ports Iran's new container terminal to come on stream this month Safmarine names first of nine new box ships DVTG starts container rail service from Finland to Russia Qantas pre-tax profit hits US$831 million in second half, up 73pc Korean Air to buy three more A380s Bahrain's leading air cargo trading partners are UK and India

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FEBRUARY 21, 2008
Roux appointed Schenker UK director UASC names and takes delivery of the "Hatta" Swiss WorldCargo increasing capacities to Tel Aviv Air France mulling Irish switch Bmi leasing B757s Veolia Cargo acquiring Rail4chem TNT profits down in Q4 Italian antitrust authority condemns Trenitalia

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FEBRUARY 21, 2008
DNV "casualties twice as likely as 5 years ago" Better year for Finnlines LR Americas secures Martec Horizon joins SmartWay Sterling buys JB Ugland

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FEBRUARY 21, 2008
ASA and NAMEPA forge a link Hawaii Superferry extends Alakai drydocking Odfjell cancels Sevmash contract Expansion pays off for Hornbeck Offshore

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FEBRUARY 21, 2008
Port of Anacortes workers set for TWIC enrollment Horizon Lines new member of SmartWay Transport Program Tsakos announces sale of Afrimax tanker Vessel brings garnet, new yacht to Port of Olympia terminal New Yuma border crossing opens Mexico to US truckers

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FEBRUARY 21, 2008
Accidents double on fleet boom, officer shortage DNV's statistics show that a ship is twice as likely to be involved in a serious incident today compared to five years ago. Skill shortage sparks officer pay rise Gioia Tauro 'controlled by mafia for over a decade' ITALIAN parliamentary commission report says mafia has been using port as base for illegal trafficking. Odfjell cancels 12-ship Sevmash order NORWEGIAN shipowner cites yard's lack of funding as reason for axing $500m deal. No let up in the pulling power of KG funds KG INVESTORS set a new record and paid an enormous $5.3bn into shipping funds. A sharp eye on the facts THE EU's Common Fisheries Policy is a topic designed to raise hackles and promote overwhelming anger in Britain's fishing communities.

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FEBRUARY 21, 2008
Odfjell cancels 12-ship Russian deal ODFJELL, the Bergen chemical carrier company, has cancelled an order for up to 12 ships placed in 2004 with the Sevmash shipyard Cosco to focus on offshore, bulk BUOYED by encouraging financial results Cosco Corp of Singpore is seeking to focus mainly on offshore and bulk US upgrades navigation system THE General Lighthouse Authorities of the United Kingdom and Ireland today applauded the US decision to implement an enhanced radio-navigation system Stena shoots down airlines STENA Line is stemming the flow of people using low-cost airlines and attracting them back to its ferry services on the Irish Sea, according to its Irish Sea director North China goes for third IPO Liquid gas to solve snow problem Clarkson's poaches Cridland Greenpeace fuels New Flame row Ferry sinks while under repair Rough ride to better tanker future Russian yards to get more funds Steel to force end to fixed prices Vietnam eyeing Oz seafood market Premiums to soar as losses increase

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FEBRUARY 21, 2008
Box traffic off at Pacific Northwest ports Vancouver and Seattle see declines in January container volumes but Portland traffic bucks downward trend. High court trumps LA port employee-driver plan: ATA Bayport pact extended FMC appoints counsel California tabs APL exec for trade, goods movement LA port delays truck plan British Airways strike could ground U.S. cargo U.S. ills hit Japan trade MISC profit slumps Chubb adds hull coverage Teesport box plan approved

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FEBRUARY 21, 2008
NYK to expand fleet to over 1000 vessels by 2014 China exports up despite shaky global economic forecast Finnlines' net profit plunged by 16% in 2007 Strike threat to Santos Oil price above USD100 again on Opec production fears

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FEBRUARY 21, 2008
Master questioned Investigating judge takes the statement of the master of a tanker suspected in a crude spill off Argentina. Vafias turns to verse A broker turned rapper turned shipowner keeps an eye on freight rates, Lamborghinis and models in skimpy bikinis as he bids to be TradeWinds' Limerick Laureate. Superferry hull damaged Dry-dock period extended after the ropax fast-ferry Alakai is damaged in the annual dry-docking process. Conrad to build ferry Louisiana shipbuilder signs $50.3m in contracts for a 600-passenger ferry, 14 barges, two tugs and a ferry repair. Canada freezes tolls Tolls to remain stable on the St Lawrence Seaway's Canadian waters in an effort to boost Great Lakes shipping. Ferry sinks, killing up to 23 A Brazilian ferry sinks in the Amazon River after hitting a barge carrying fuel tanks. Size no issue for D'Amico Opportunistic tanker owner is looking for takeover targets after securing a series of lucrative purchase options. Navios profits swell US-listed bulker owner posts $197m in profits as the company sells vessels to a spin-off and boosts its fleet revenue. Gudnason quits Eimskip Icelandic container line's boss moves on to other projects, with deputy stepping up in short-term. Rig Tenders to buy two Indonesian owner planning $35m fundraising drive to add to fleet. Take three for Hosco Fresh bid for Hong Kong listing could be worth $800m for Hebei Ocean Shipping. Odfjell axes $500m order Fall out with Russian yard sees 12 ship newbuilding contract cancelled. Thailand eyes big league Government to make its shipbuilding industry world class by introducing a series of incentives Elecon still keen Indian engineering group will bid again for Alcock Ashdown shipyard if tender is resurrected. Child labour case dismissed Solid Shipping of the Philippines cleared of employing kids in onshore operations. Fleet growth boosts Hornbeck Louisiana-based offshore and tank-barge operator makes more in 2007 due to acquisitions and "favourable market conditions." Grindrod gets better South African tanker and bulker owner hikes 2007 profit in healthy market. Hit and MISC Revenues up but net profit sliced in half in third quarter at Malaysian owner MISC Berhad. Wilson's spending pays off Strong fourth quarter for the Norwegian shortsea specialist with more ship demanding higher rates. Court demands Lady East sale Rusting bulker could be set for scrap after judge issues papers demanding the vessel be sold. All systems GO Michael Tartsinis-led bulker owner cashes in on its bigger fleet with earnings up and operating costs cut. Going, going, gone Georgia's fleet evaporates as last state-owned vessel bought by Marshall Islands owner. Siem soars again Big improvement in 2007 profit in strong supply ship market for Norwegian owner. Conversion score for Cosco Corp Singapore yard and bulker owner almost doubles annual sales on back of conversion and offshore projects. Ferry sinks in Philippines Coast guard monitoring for pollution after vessel goes down in Cavite port, but no injuries reported. Murmansk loses icebreakers Russia to transfer management of nuclear-powered fleet from tanker owner to atomic energy agency Rosatom. Spot not hot for Brostrom Swedish product tanker owner sees annual profit fall as spot market suffers at both ends of the year. PGS on a roll Oslo-listed seismic survey vessel player has new boss as it announces best ever annual profit.

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FEBRUARY 21, 2008
PIL, Wan Hai to sign 10-year alliance agreement Hanjin upgrades last vessel on FEX service CCNI signs new agreements for IAS supply chain visibility services Senator Lines changes Alpine agency IMCL starts DCT Gdansk calls Maruba South Florida/Central America service going weekly Swiss WorldCargo to increase Tel Aviv capacity Supreme Court rejects Maine law regulating tobacco deliveries EWS returns to Thamesport (London) with Daventry rail link U.S. works to harmonize trusted trader programs Eimskip CEO Gudnason quits CBP deploys two attach's to China Long Beach port approves truck plan in marathon meeting U.K. government approves PD Ports' Northern Gateway terminal Genoa port congestion continues N.Y.-N.J. Port Authority bond rates fall Los Angeles port names Pan CFO

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FEBRUARY 21, 2008
JB Ugland Shipping sold to India for USD 300 million JB Ugland Shipping (JBUS) has been sold to Indian Siva Ventures for USD 300 million (NOK 1.6 billion) with a fleet of 23 tankers and 18 bulk carriers, including newbuildings. The JBUS management headed by CEO Bjørn Bergsland will ... Odense signs up with Pacific Basin for four ro-ro's Odense Steel Shipyard has signed up with Hong Kong based Pacific Basin Shipping Limited for two ro-ro vessels (plus two options) for delivery in the years from 2009 to 2011 for a total sum of USD 375 million. Pacific ... Broström result pressed by weak spot market Broström reports a pre-tax result of SEK 450 million (EUR 48.3 million) in 2007, down by SEK 130 million (EUR 14 million) compared to 2006. Net sales amounted to SEK 3,504 million (EUR 376 million), up by SEK ...

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FEBRUARY 21, 2008
Oil prices drop as US inventories swell Crude oil easing after reaching new record Wednesday. Russian bunker terminal nearing completion Ust-Luga terminal will serve one of Russia's fastest growing ports. Fuel oil parcel 'heading to Fujairah' Chinese demand for fuel oil in Asia markets beginning to slacken. Bunker market report from Praxis 'Green' logistics choices spreading DHL onboard with first SkySails voyage and Wal-Mart joins Coalition for Responsible Transportation. Bunker costs cast shadow over profits Malaysian shipper expects operational costs to rise. Another player ready to start Asia fuel oil trading ConocoPhillips begins lease of fuel oil storage on Singapore's Jurong Island. Rotterdam/Antwerp barges still tight Singapore: Residual fuel stocks continue to fall High fuel oil demand from China leads to further falls in stock levels. Hyundai to cut March bunker fuel by 30% The reduction is prompted by further cuts to crude runs. Court fines vessel owner Korean fishing boat guilty of spilling bunker fuel in a New Zealand Harbour. Chemoil's new CEO promises 'seamless transition' Bandy speaks for the first time since he took over Chemoil's top position in January this year. Terminal to restrict bunker tankers Indonesian car terminal says bunker tankers have been obstructing other ships.