Shipping sector more confident, says SSA chief The shipping industry is more confident about the second half of this year, as the downturn looks like it has bottomed out, newly re-elected Singapore Shipping Association (SSA) president SS Teo said yesterday.
Teekay CEO sees weak rates till Opec output gains Bjorn Moller, chief executive officer of shipowner Teekay Corp, expects rates to transport oil to be weak until the Organization of Petroleum Exporting Countries, which pumps about 40 per cent of the world's crude, increases output as the recession eases.
Pirates free ship for ransom - but leave body behind A Dutch ship and its Ukrainian crew was freed on Tuesday by pirates after a US$1.3 million ransom was paid, but rescuers found a dead sailor aboard the vessel taken six weeks ago off Somalia.
Pirates foiled in hijacking tug-barge in broad daylight
Eastwind files for bankruptcy EASTWIND Maritime's travails have culminated in the New York shipping company filing for Chapter 7 bankruptcy.
Aries negotiates takeover by Fistes-led GrandUnion Nick Fistes and Michael Zolotas given 60-day exclusivity period to negotiate a reverse merger with Nasdaq-listed Aries Maritime.
Eastwind goes bankrupt NEW YORK-based Eastwind Maritime has filed for Chapter 7 bankruptcy protection, opting for liquidation versus restructuring
GrandUnion eyes Aries takeover PRODUCT tanker and container-ship owner Aries Maritime Transport is considering a deal that would transfer control to Greece's GrandUnion
US might require offshore data THE US Coast Guard wants to plug a hole in security rules by requiring advanced notice that vessels will be doing offshore work in US waters
S Africa storm rips vessels A STORM in South Africa has grounded at least two barges today, damaged a tug and nearly drove a bulker onto a rocky shore
More to fall New York shipowner Peter Georgiopoulos says shipping industry has a "long way to go" in the downturn.
Eastwind files Troubled New York-based owner files for Chapter 7 bankruptcy over more than $500m in debt.
Barger to drop American Commercial Lines expects second-quarter earnings to fall and issues $200m in notes.
Greeks swoop Michael Zolotas and Nicholas Fistes (pictured) pen deal to take control of Aries Maritime boardroom in pact involving the sale of three capesize vessels.
'First of many' Eastwind bankruptcy is just the beginning of a series of insolvencies, says bearish shipping finance veteran Paul Slater of First International.
Flu hits Brazil ship A Transpetro tanker is released from quarantine off Argentina after crewman falls ill with swine flu.
Bulker saved Essar capesize towed to safety by Smit tug after losing power off South Africa in storm.
S&P booster Alan Marsh says recovery in dry-cargo sale and purchase activity has helped Braemar's balance sheet in the first quarter with full-year figures set to be "satisfactory".
"At the bottom" PIL boss SS Teo believes the liner sector has seen the worst, but warns over bunker price volatility.
Public service Listed shipowners in prime position to take over distressed assets with many deals brewing to follow Navios' cape coup, says top analyst.
ACM tanks up Johnny Plumbe-led broker sees rise in annual profit but warns of weaker revenues next year.
Still stuttering Falling ferry and container movements continue to hinder revenue at Irish Continental Group.
New Riga run Dutch operation HNCL launches service from Harlingen and Sweden to Latvia.
Paragon extends Michael Bodouroglou-led Paragon Shipping renews charters on another two of its bulker fleet.
Bharati builds Indian shipyard adds another 4.58% of Great Offshore's stock in takeover battle with rival ABG.
Credit crunch Sacked Sydney Ferries chief Geoffrey Smith tells inquiry he didn't know personal use of company plastic was banned.
Black Sea slump Russia's NCSP sees currency fluctuations take the edge off rising revenue in the first quarter as profit dives.
RCL refinances DnB Nor to lend up to $17.5m to Thai containership owner's Singapore unit.
A little short Ro-ro player Finnlines sells 90% of its share offering, raising EUR 33.7m to redeem bonds.
New CEO at SFI John Fredriksen's Ship Finance International has named finance chief Ole Hjertaker as its new chief executive.
Fancy a peek? New owner of QE2 to open up historic liner to visitors before refurbishment gets underway in Dubai.
Grandweld wins Dubai shipbuilder signs contract for three offshore vessels with domestic Humaid Badir group.
Navios soars Stock in Angeliki Frangou-led bulker player up on capesize deal and positive broker comments.
CNG shortlist Asian shipyards chase work for four compressed natural gas newbuilds for Vietnam project.
Loose lesson Princess Cruises told to tighten up after unsecured furniture injures passengers on rough South Pacific cruise.
Samsø ferry arrives in Denmark The new ferry Kanhave has now arrived in Hou, Denmark, after a voyage from Piraeus, Greece. The ferry stopped at Gibraltar for bunkers, but managed to make the trip in
NOK 1 billion order to Havyard Havyard Group has signed a contract to build a Havyard 848 SMART AHTS type anchor handling tug supply vessel for delivery Q4, 2011. The buyer is Smart Shipinvest and the
Evergreen aims to scrap older units Evergreen Line plans to withdraw 31 of its older vessels from service due to overcapacity of container carriers worldwide. Units owned by Evergreen will be scrapped and chartered vessels will
Oslo Marine Group targeted in hostile takeover Last weekend, Russian military forces stormed two terminals owned by Oslo Marine Group (OMG), according to SeaNews.ru. They took over the area Western Terminal and the car terminal Oneka in
Skuld's reserves shrink The Norwegian P&I club Skuld reports that its financial result for 2008 shows a loss of USD 59 million. The year-end return on investments was a negative 14
Ashland Inc to sell global marine services business Outlook for marine business and employees 'much stronger'.
Tropical storm disrupts Mexican ports But bunkering operations continue as normal.
Shipping company files for bankruptcy Bunker claims already lodged against the company with the same US court.
North European bunker prices bounce back In Southern Europe, bunker markets present mixed picture.
US gasoline supply grows, crude stocks fall Analysts warn pressure on refining margins could dent crude demand.
Tanker taking fuel oil to Fujairah Product shortages in UAE bunker hub draw fuel oil from Singapore.
UK port must 'maintain its strengths' Falmouth Harbor Commissioners say funding setback should not stop growth. Bunkering activity has been increasing.
Corruption could 'threaten growth' of Singapore bunker industry Senior official from Corrupt Practices Investigation Bureau says: 'We will not stop.'
Fuel oil terminal to add new dock Upgrade should be ready in less than two years.
Bunker prices rebound mid-week Fuel oil prices in Singapore up by $14 pmt.
Reports: Chemoil in talks to sell majority stake Marine fuel supplier may sell 51% stake to Glencore.
Offshore sales appointment at O.W. Bunker Copenhagen office in drive to develop sales into offshore oil and exploration industry.
Singapore Shipping Association backs bunker levy to cut emissions Taxes on bunkers 'more fair, practical, easier to implement and likely to be more transparent'.
Tropical storm halts bunker ops in East Asian port Tropical storm expected to hit Manila Bay area on Wednesday evening.
Box liners suffer record revenue losses Evergreen to scrap up to 31 of its ships with excess capacity blamed.
EU and OPEC call for regulatory reforms to stem price spikes Kuwaiti Oil Minister says no further cuts in September, but OPEC's al-Badri says 'it is too early to say'.
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