Marine insurers' loss ratio seen spiking in 2009 Marine insurers' claims losses relative to total earned premiums are set to soar in 2009 because of piracy and the slump in global trade values, the International Union of Marine Insurance (IUMI) said.
Ships, planes should cut emissions: EU The European Union has proposed that the shipping and airline industries reduce greenhouse gas emissions by as much as 20 per cent over the next decade as part of any new United Nations accord to fight global warming.
Piracy: China mulls military rescue China has not ruled out military action to rescue the crew of a coal ship hijacked by Somali pirates, although it is also pursuing negotiations, a Chinese military spokesman said yesterday.
London Gatwick airport sold, new runway expected BAA has sold London Gatwick airport for GBP 1.5 billion to Global Infrastructure Partners, an investment fund that also owns London City Airport, according to British media reports...
Evergreen Line adjusts Far East-Europe rates Evergreen Line is set to restore westbound rates between the Far East/Indian Subcontinent and Europe/the Mediterranean. Demand has been stronger than anticipated here in October an...
Fellestransport and Greencarrier Norway to merge activities Norwegian freight forwarder Fellestransport is set to merge its activities with Greencarrier Norway and trade under the Greencarrier name from 1 November. All Fellestransport staff...
New Leica and Geodis Logistics partnership in Germany The German company Leica Camera is set to start storing its entire range of products centrally with logistics service provider Geodis Logistics from next month. Geodis Logistics wi...
LGI attains AEO-F certification The German logistics service provider LGI Logistics Group International, which is part of the Willi-Betz group, says it has become one of the first logistics service providers in G...
Kazakhstan and Turkmenistan establishing new rail tracks Kazakhstan has started building a new railway line along the eastern shore of the Caspian Sea, which will create additional direct links between Kazakhstan and central Russian regi...
DCT Gdansk improves throughput The Deepwater Container Terminal Gdansk (Poland) celebrated its second anniversary on 1 October. The centre has been able to continuously improve its throughput figures so far. It ...
Freed captain wants payout A CROATIAN master who spent 17 months in a Greek prison will seek compensation from Athens for wrongful imprisonment, his lawyer said today
Bulker hijacked off Seychelles SOMALI pirates were repulsed in one attack, but other attackers succeeded in a second this morning
Japan ship exports at a trickle JAPAN'S shipbuilders signed contracts for just six ships for export in September
Pressure mounts in Philly AMERICAN Shipping, the owner of tankers built at Aker Philadelphia, has cited progress in efforts to finance two shuttle tanker newbuildings
Air attack on spill off Galveston AIRCRAFT were deployed today to spread dispersants over a Gulf of Mexico oil slick from a tanker leak 40 miles off Galveston
High interest Sovcomflot accountant tells court tanker sale and leaseback deals had effective interest rate four times that of conventional ship finance.
Resales cancelled Sales of two more Bocimar newbuildings fall through but CMB inks deal to take stake in Seacor-linked barge player.
'Well protected' As it reports a slump in third-quarter profits, CMB feels ready to face even weaker bulker market.
Geared for slump Lloyd's Register logs a 38% jump in income as it prepares to take a hit from newbuilding cancellations and orderbook shrinkage.
OSG, Tsakos cut Cantor Fitzgerald lowers ratings on two US-listed tanker owners as tanker demand is inadequate to meet supply.
Exxon backs out SBM Offshore is looking for a new contract for the FPSO Falcon after ExxonMobil arm terminates contract.
Tough third CSDC warns of a 50% fall in full year profit after its third quarter bottom lines plunges 81%.
Jones Act effort GulfMark Offshore plans reorganisation to preserve US-citizen status under domestic shipping law.
Krymsk crash WebTV report shows the aftermath of a collision off Texas that led to a fuel oil spill.
Cutting again Danish giant Maersk Line chops one Med to south Asia service, as well as the TA3 loop from North America to Europe.
Credit constraint Sovcomflot finance executive warns that minutes of Russian tanker owner's governing body are false.
Drillers beat bets Two US rig and drillship owners post profit growth well above Wall Street estimates.
Al Khaliq seized Indian bulker with 26 crew identified as ship snatched, Italian ro-ro Jolly Rosso escapes.
Expanding east Phrixos Papachristidis-led Hellspont sets up Singapore wing to focus on offshore officer recruitment and chartering.
Keppel short Choo Chiau Beng-led shipyard group posts improved third quarter profit but is shy of market expectations.
Antwerp falls Belgian port handles 19% less cargo in first nine months of 2009.
More for MES Japanese shipbuilder raises annual profit forecast to 31 March, 2010
Losses cut Tanker owner American Shipping still hampered by finance costs, but nine-month deficit reduced as fleet grows.
Tanker refloated SCI products carrier grounded at Haldia in India after trying to avoid oncoming dredger.
Med tie-up Evergreen strikes slot-exchange deal with Norasia to boost European coverage.
Bargain hunt Essar boss says he wants to buy a couple of bulkers but won't be rushing into any deals.
Subsea splash Sven Rong's GC Rieber and a private equity partner plough $35m into a subsea joint venture.
Bulker in trouble Fears that ship may have fallen into Somali pirate hands on same day Italian ro-ro escapes.
Guilty Greece's Styga Compania Naviera fined $1m for "magic pipe" oil dumping from tanker Georgios M off the US.
Coal ship blocked Formosa Plastics bulker laden with coal prevented by activists from leaving Australian port.
Offshore to grow SCI's Umesh Grover says billions of dollars will be poured into India E&P over next few years.
Wartsila wobble Engine builder's shares on the ropes after its third quarter figures miss market forecasts.
Doubling up Singapore-based owner Tata NYK says growing Indian bulker business will help it double its fleet over the next three years.
Indian Zest Japanese firm Zest Shipmanagement looking to hire more Indian crew, managing director says.
Cabotage plea SCI's Sabyasachi Hajara says Indian government must do more to guarantee cargo volumes for domestic owners in downturn.
Paragon confirms Michael Bodouroglou-led bulker owner increases fixed rate coverage for 2010 and 2011 with new charter.
Wartsila woes Engine builder sees signs of stability as third quarter pre-tax profits are largely unchanged from a year ago.
Finnlines to start up Ropax service to Rostock Finnlines will start up a service to Rostock with Star class Ropax vessels. The ships currently sailing from Helsinki via Gdynia to Travem'nde will instead have Rostock as their German
Piracy at historic levels A total of 306 piracy incidents were reported to the IMB Piracy Reporting Centre in the first nine months of 2009 ' the figures have already surpassed the total number of
EU gets tough on ship dismantling The EU environment ministers have adopted the Council's conclusions regarding the Commission Strategy on Ship Recycling. This could lead to a legislative proposal to ensure that ships with a strong
EU gives IMO another year At the Environment Council meeting in Luxembourg, Greece, Cyprus and Malta convinced the EU Council of Environment ministers to agree that all work on reducing greenhouse gas emissions from shipping
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
