Panamax Operators Move Past Seasonal Freight Rate Slump
Panamax operators are poised for an improvement in freight rates after receiving indications that the seasonal slump has passed, shipbrokers said on Tuesday. Reports…
Police Nab Hashish from Containers
Australian police seized almost three tons of hashish smuggled into the Port of Melbourne in two shipping containers. A four-day stake-out led to the seizure of…
Frontline's Goal: Zero Emissions
Frontline, the world's largest tanker company, is now developing methods capable of reclaim all polluting gases produced during sea transport. Its vessel Front Granite…
Fredriksen, BG Group Close to Settlement
The world's top shipping magnate John Fredriksen is close to solving a dispute with British utility BG Group and could soon see increased earnings for four of his ships, shipping sources said.
SembCorp Profits Boosted By Marine
Singapore's SembCorp Industries Ltd is expected to post up to a 60 percent rise in half-year net profit on Wednesday, boosted by its logistics, utility and marine businesses.
Hyundai Heavy Will Miss Profit Target
Hyundai Heavy Industries, the world's largest shipbuilder, will not meet its full-year profit target after reporting a half-year net loss of 53.1 billion won ($41.68 million)…
Great Lakes Shipping Returns to Normal
Shipping on the Great Lakes should be back to normal by early Monday evening, Canadian marine authorities said, as a 730-ft. freighter, which crashed into a lift bridge across the Welland Canal…
Ship Recycling Code Launched in London
An inter-industry working party - comprising the International Chamber of Shipping (ICS), BIMCO, Intercargo, Intertanko, ITOPF, ITF and OCIMF - has launched an Industry…
Atlantic Panamax Earnings Plummet To New Lows
Average Atlantic panamax earnings sank to new lows on Monday, quashing hopes that the market had bottomed out, brokers said. "We've given up predicting when the market will stop falling…
Dead Stowaways Found Onboard Panamanian Cargo Ship
Two dead stowaways were found on Monday in the cargo hold of a ship, which docked in the northwestern port of La Coruna on a voyage from west Africa, the local port authority said.
Collision in Welland Canal Continues To Hamper St. Lawrence Seaway
Shipping on the St. Lawrence Seaway will remain badly disrupted for at least another day, Canadian marine authorities said on Monday, as an investigation continues into an accident in which a 730-ft.
Iraqi Oil Smuggling Attempt Goes Sour in the Persian Gulf
An Iranian team on Monday stopped an oil leak from a ship that sank in the Gulf last week while apparently smuggling Iraqi fuel oil, a regional marine body said.
Ship Collision Forces Closure of Major Canadian-U.S. Trade Link
A major marine trade link between Canada and the United States remained closed on Sunday after a ship collided with a lift bridge in Canada's Welland Canal. The canal…
NOL Shares Down 6.8 Percent
Shares of Neptune Orient Lines Ltd (NOL) slumped as much as 6.8 percent on Monday morning after it said it expects to book a profit for the full year but that the…
Five Chinese Fishing Boats Capsize Off Hainan
One Chinese fisherman drowned and 19 were missing after five boats sank in tropical storm Tiantu off the southern province of Hainan, maritime officials said on Monday.
Merrill Lynch "Reduces" P&O's Rating
Merrill Lynch said on Monday it had cut its rating on British shipping and logistics group The Peninsular & Oriental Steam Navigation Company (P&O) to "reduce" from "neutral" in the intermediate term.
Rough Seas Cause Italian Ferry To Run Aground Off Sicily
An Italian ferry ran aground in the Aeolian Islands off the north coast of Sicily on Sunday night in rough seas, coast guard officials said on Monday. All 164 people on board were rescued safely…
India To Get $144 Million LNG Import Terminal
An Indian subsidiary of Royal Dutch/Shell said on Monday preliminary work for a liquefied natural gas (LNG) import terminal in India had begun and work for the main facility would start in November.
Spot Rates Rise
(trading AG-Japan) went up to USD 21,624 per day for a modern vessel; this is up 12.7% from the average of June 2001. modern Suezmax trading West Africa to US went up to USD 30…
Ship Recycling Code Launched
The recent edition of INTERTANKO News says that following two years of work on the issue of enhanced environmental and safety conditions in ship recycling yards…
