Thoresen Thai eyeing overseas expansion Thoresen Thai Agencies, Thailand's top dry bulk carrier, is looking to expand abroad into logistics and energy businesses as part of a diversification strategy to protect profits when freight rates fall.
UAE gives Seychelles a US$15m anti-piracy boost The United Arab Emirates (UAE) has signed a US$15 million deal to boost the Seychelles' coast guard and help the Indian Ocean archipelago combat Somali piracy.
BDI bottoms out at last THE BALTIC Dry Index finally bottomed out today, ending its longest losing streak in 15 years
Glory Wealth loses appeal GLORY Wealth Shipping has lost a bid to overturn a $5.46M arbitration award in favour of North China Shipping
Spill crews hail high pressure TESTING of the new capping stack on BP's blown-out Gulf of Mexico well continued today to show positive results, with pressure readings reportedly increasing
Houston open despite grounding TRAFFIC in the Houston Ship Channel is moving normally today while US Coast Guard officials work to lighter a grounded tanker
Bremerhaven car exports delayed GERMAN car makers Daimler and BMW are predicting disruptions to their worldwide deliveries because of port capacity constraints at Bremerhaven
Teekay LNG raises more cash TEEKAY LNG today sold 1.7M common units to a private buyer, raising $51M for general corporate purposes, including potential vessel acquisitions
Doubt raised over ONE's future AN AUDITOR has voiced "substantial doubt" about the ability of Greek product tanker specialist Omega Navigation Enterprises to "continue as a going concern"
Is misdeclared cargo an acceptable risk for ocean carriers? The dramatic pictures of the fire-stricken Charlotte Maersk in the Malacca Straits are another reminder of the inherent flaw of containerisation; subjected as it is to the risk of misdeclared cargo.
Vinalines challenges market chatter Vietnamese owner tackles tales tied to Vinashin overhaul while fate of fleet hangs in the balance.
CMA CGM CFO calls it quits Shipping world reels as French liner giant's finance boss Jean-Yves Schapiro emerges as newest name in industry's executive exodus.
Vinalines tipped as bulker buyer Vietnamese shipowner linked to supramax splash as sources shed light on mysterious S&P deal.
Glory Wealth loses relet charter appeal Arbitration award of $5.5m to North China Shipping over wrongful early termination of bulker relet deal is upheld.
Dry dive over, at least for now BDI ends worst losing streak since the 1990s but is the pain just beginning?
Quotes of the week Ex-Paragon CFO Chris Thomas itching for a new gig and what does Paul the Octopus say on his index fingers?
NITC orders 'face lift' National Iranian Tanker Company takes on fresh title as independent operator combats Iranian link.
Burk warmer on wet shares Oppenheimer analyst says he is warming to tanker stocks after recent falls.
Antwerp adds 13% in first half Key Belgian port boosted by boxes and bulk as volumes rise.
Investors exit Celtic Tankers Shipless UK owner buys shareholders out after failing to find suitable replacement tonnage.
New5 in Numb3rs Four Clarksons brokers join former boss Richard Fulford-Smith at Platou while George Economou plots junk-bond bid.
Teekay Tankers grabs VL loans Bjorn Moller-led owner makes backdoor entry into VLCC sector in a move which will boost its dividend.
Teekay LNG targets $51m haul New York-listed shipowner turns to institutional investors to help fund new buys.
Opec slows summer pace Crude export growth to fall in month to 31 July as refineries start seasonal maintenance.
Knutsen tanker stranded Salvors attempt to refloat Norwegian owned chemical tanker that is aground in Houston Ship Channel.
Bonheur bashed in first half Fred Olsen's holding company hurt by weaker drilling and cruiseship revenues to 30 June.
Xiamen Port set to shine Chinese port says improvement in general business conditions will result in improved interim results.
Ferry hitch in Germany Helgoland vessel out of action with water-cooling system fault.
Hanjin linked to bond sale Korean shipbuilder eyes $50m issue in August to pay off other debt.
BWO inks Indo gas gig Norway's BW Offshore clinches 10 year deal for a gas FPSO for Indonesian offshore field.
New ferry project for Macao Chinese casino hotspot takes $188m gamble on third passenger terminal.
Sydney Ferries standing firm Aussie owner will not reinstate master sacked over brawl despite three court defeats.
Buyers market to end Americas week Market fairly quiet at most major ports, prices soften.
EU sulphur regulations to be harmonised with MARPOL Annex VI Sulphur limits to be given with two decimals, review will assess 1.5% sulphur limit for passenger vessels.
Prices end the week with losses Weak bunker demand in Piraeus.
Houston receives grant to cut diesel emissions Project to include use of lower sulphur fuel on 21 ocean-going vessels.
Prices show small movements Good bunker demand and avails in Durban, players say.
Russian fuel oil exports seen rising in July Over 40% increase predicted for exports from Lukoil's Vysotsk terminal.
Technology firms join forces on fuel monitoring Direct fuel flow measurement system combined with vessel monitoring software to help operators reduce fuel consumption.
Bunker prices end week soft Demand notably below average in Busan, local traders say.
BIMCO recognises potential of LNG as ship fuel Sees lack of 'usable supply chain' as main obstacle to wider use of the cleaner-burning fuel.
Two bunker tankers stricken by typhoon in Philippines Oil spill response team deployed to the area, says the Philippine coast guard.
SHFE proposal for new fuel oil specs awaiting approval New specs to clear up 'mess' within the domestic oil blending market.
Bankruptcy judge authorises sale of AHL tankers Vessels seized for non-payment of over $2 million worth of bunkers.
Brightoil to lease 10,000 mt more bonded storage To cope with 'increased business' at Ningbo port.
- 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
