Maersk may sell passenger ferry unit AP Moeller-Maersk A/S, Denmark's biggest company, is in talks to sell its passenger ferry operator to focus on returning its container division to profit and expanding oil activities.
Kuwait group drops plan to buy Manila shipping firm UNABLE to raise funds from a recession-hit debt market, Kuwait-linked KGLI-NM Holdings Inc has backed out from a deal to buy out the Philippine's largest and oldest shipping company, Aboitiz Transport System (ATS).
Baltic Dry Index up 1.1% on rising steel prices The Baltic Dry Index, a gauge of world trade, gained for a second day on speculation that rising steel prices will spur demand for iron ore.
ACP offers short term relief to boxlines PANAMA Canal Authority to offer limited concession to show "sensitivity to customer needs".
Panama Canal resists pressure for a cut in tolls
ABS boss sees "silver lining in gathering clouds" IMPENDING contraction in newbuilding activity offers "opportunity to chart a new course", says Robert Somerville.
US Shipping outlines bankruptcy plan details US Shipping able to hold on to its $15m cash balance through the bankruptcy period.
LNG market seen up 7% a year THE GLOBAL market for LNG will expand by 7% a year until 2020 despite the recession, the Australian producer Woodside Energy predicted today
Nine held in cruise drug case BARCELONA police have smashed a smuggling ring that allegedly used cruise ships to transport cocaine from Brazil to Spain, Spanish police announced today
Panama unveils transit relief THE PANAMA Canal Authority will implement temporary measures to reduce some transit costs through 30 September
Termination fees hit DryShips DRYSHIPS has reported $101.8M in first-quarter losses, driven by cancellation costs and a sharp drop-off in rates
Economou bullish on prospects DRYSHIPS chairman George Economou cited positive signs today on both supply and demand and offered assurances on his company's yet-to-be finalised covenant waivers
Rise seen in shipping accidents DNV SAID today losses from navigational shipping accidents continued to increase last year, which confirmed its prediction of February 2008
Alabama master in ship arms plea MAERSK Alabama captain Richard Phillips has publicly advocated arming ranking officers aboard vessels transiting piracy-prone waters
Virus upon virus Just as confidence started seeping back into global bourses, and the shipping industry began to eagerly anticipate the prospect of a slow recovery, a swine flu pandemic is threatening to derail this fragile progress and stymie globalisation. Yesterday (April 30), the UN's World Health Organisation (WHO) raised the alert level to category five - one level short of a full pandemic.
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