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Pension Fund Set to Scrap Plan to Bid for Daewoo

AFP reported that 's state pension fund is likely to scrap plans to bid for Daewoo Shipbuilding because of global financial turbulence. The National Pension Service the world's fifth largest, had been in talks with POSCO, GS Group and Hanwha Group to find a partner for the acquisition of Daewoo Shipbuilding. Hyundai Heavy Industries, the world's largest shipyard, is also interested in Daewoo Shipbuilding, the world's third biggest yard. The pension fund, with assets of $187b has posted a negative return so far this year due to the financial turmoil. State-run Korea Development Bank and a government asset-management unit are selling a 50.4 percent stake in Daewoo Shipbuilding, a deal newspapers said will fetch as much as seven trillion won. They had taken over Daewoo Shipbuilding in 2000 after its parent Daewoo Group collapsed under a debt mountain totalling 82 billion dollars -- one of the world's largest corporate failures. Source:  AFP


Last Liberty Ship Leaves James River Reserve Fleet

Arthur M. Huddell is bound for Greece

The Department of Transportation announced that the last of ’s famous ships, the Arthur M. Huddell, will be towed from the James River Reserve Fleet site at , , to , on July 28, to prepare the World War II-era vessel for a cross-Atlantic tow to its new homeport in .  Greek officials say the ship will become a merchant marine museum of that nation’s shipping industry. While in , the Huddell will be berthed at the W3 Marine facility while the cross-Atlantic tow-prep is


Shell, BP 2005’s Leading Oil Tanker Hirers

Royal Dutch Shell plc and BP plc, Europe’s largest energy companies, were the leading hirers of oil tankers last year as crude prices rose to records. Shell hired 762 crude oil tankers for single voyages in 2005, accounting for 7.5 percent of the global total, according to figures compiled by New York-based shipbroker Poten & Partners. BP rose from fifth in 2004 to second, with a share of 4.9 percent. Exxon Mobil Corp, the world’s top energy company, came third in the survey.


China to Build World's Largest Repair Facility

China Ocean Shipping, China’s dominant maritime firm, is investing Yuan2bn in what is envisioned to become the largest shiprepair facility in the world. The base will be in the Zhoushan archipelago in Zhejiang province, two hours’ steaming from Shanghai, which is likely to become the world’s biggest port in the coming decade providing plenty of repair work, particularly for very large crude carriers and containerships


This Day in Naval History - Nov. 29

From the Navy News Service 1775 - Capt. John Manley in schooner Lee captures British ordnance ship Nancy with large quantity of munitions. 1890 - First Army-Navy football game (Navy won 24-0). 1929 - Cmdr. Richard Byrd makes first flight over South Pole. 1944 - USS Archerfish (SS 311) sinks Japanese carrier Shinano, world's largest warship sunk by any submarine during World War II.


Seafaring Tradition Perhaps Key to DP World's Growth

At DP World's annual gala dinner the chairman noted the company's success was rooted in UAE's rich maritime tradition. The UAE’s rich sea-faring tradition supported and drove DP World’s rise from a local port operator to today being third largest marine terminal operator globally, said Chairman H.E. Sultan Ahmed Bin Sulayem addressing the recent Annual Grand Gala Dinner of DP World, UAE Region. Addressing the event held under the theme “Dreams of the Sea”


Report: Three Carriers Dominate TransAtlantic Trade

Three new carrier groups now control 58% of the total capacity in the transatlantic container trade, according to World Liner Supply, a new quarterly report from the compairdata.com on-line shipping database. The fourth quarter 2000 issue of World Liner Supply shows that the merger of services and the combination of smaller carrier groups has led to a substantially higher market concentration in the North America/northern Europe container trade.


Report: S. Korea lags China, Japan in Shipyards

According to reports, South Korea fell behind China and Japan in the number of shipyards ranking in the world's top 50 in terms of order backlogs as of the end of May, although seven South Korean companies were No 1 through No 7, a London-based market research firm said. Fifteen Japanese shipyards and the same number of Chinese companies were included in the world's top 50 list, while only nine South Korean shipyards made it, Clarkson Plc. said.


Dubai Drydocks World Established

Dubai World has consolidated its drydocks and maritime business by bringing Dubai Drydocks, Al Jadaf Shipyard, Platinum Yachts FZ and Platinum Yacht Management under a single umbrella - Dubai Drydocks World (DD World), a statement said. Dubai World, which runs DP World, the world's third largest port operator, yesterday announced the establishment of Dubai Drydocks World (DD World) to consolidate the dry docks and maritime sector of the organisation


Genoil MOU with Tianjin Port

Genoil Inc. (TSX.V: GNO) (OTCBB: GNOLF.OB) has signed a memorandum of understanding with Tianjin Port, one of China’s major shipping harbors. The MOU with Tianjin Port is for the introduction and implementation of Genoil’s oil-water separation system to treat and clean bilge water of oil, contaminants, chemicals and pathogens.  This is the second Chinese port to sign an agreement with Genoil to use its oil-water separation technology


Drydocks World Wins Dubai Chamber CSR Label

Award for Drydocks World  - recognition of its excellence in the areas of social responsibility

  Drydocks World group the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors has received the Dubai Chamber Corporate Social Responsibility Label in recognition of their efforts and contribution to excellence in various areas of social


Double Order for Super Gloria Reachstacker

Kalmar Super Gloria reachstacker

  Kalmar, part of Cargotec, has gained an order for two Super Gloria reachstackers from Tadarsa Logistics S.L. in Aviles, Spain. The largest reachstackers ever built, the Kalmar Gloria DRG1300-92ZX will have the capability of lifting 130 tonnes and will be utilised specifically to lift heavy


APM Maasvlakte II Terminal Opens

King Willem-Alexander officialised the opening of Maasvlakte II by informing a remote crane operator to launch the multi-coloured ballet of containers on 62 battery-powered Lift-Automated Guided Vehicles. Next to him are CEO of the Maersk Group, Nils s. Andersen and CEO of APM Terminals, Kim Fejfer. Photo: Maersk Group

 APM Terminals Maasvlakte II held a ceremony  to celebrate the opening of the world’s most automated container terminal.   The  event that was attended by Dutch King Willem-Alexander and 500 representatives of the port industry and governments from around the world


Goliat FPSO in Norway

Dockwise Vanguard arrives in Hammerfest with Goliat FPSO on board (Eni Norge)

 The Goliat FPSO was successfully floated off the heavy-lift vessel, Dockwise Vanguard, in the fjord outside Hammerfest, says Eni Norge    The Goliat platform has arrived in Hammerfest, Norway last week, after a 63-day journey from South Korea covering 15,608 nautical miles


Long Beach, Los Angeles ports host forum to gather input

Joint Meeting

  More than 100 cargo owners, trucking firm leaders, longshore labor, marine terminals and other goods movement industry representatives turned out Wednesday for a joint meeting hosted by the ports of Long Beach and Los Angeles to gather input


Boatbuilding in China

Xin Yue Feng Shipyard’s Chairman Luo Chaoneng with a pair of AHTs.

While much of the focus on coverage of the Chinese shipbuilding industry is on big shipbuilding, Maritime Reporter switches gears this month to explore activities in select boatbuilding sectors.   Damen Yichang Shipyard The Damen boatbuilding name is ubiquitous around the world


Hanjin’s Subic Shipyard Wins Bid for Six Boxship

Hanjin Heavy Industries & Construction’s (HHIC) Philippines-based Subic Shipyard Courtesy HHIC

  HANJIN Heavy Industries & Construction (HHIC)-Phil’s Subic Shipyard hit the jackpot bids. On April 20, the company said that it signed a deal to build six 11,000-TEU containerships for European and Asian shipping companies.


General Mills Strategically placed in Port Salford

Courtesy Port Salford

  General Mills UK & Ireland – responsible for a range of market-leading brands, including Old El Paso, Green Giant, Betty Crocker and Nature Valley – is to be the first tenant at a new state-of-the-art distribution hub that will save 600


Dubai's DP World Eyes Dollar Bond

DP World, one of the world's biggest port operators, wants to issue a dollar-denominated bond and could announce plans to market the deal to fixed-income investors as soon as next week, three sources aware of the matter said on Thursday. The Dubai-based firm could raise between $750 million and


‘Beware the Big Ship Hype’ -TT Club

Phillip Emmanuel (Photo: TT Club)

TT Club’s Phillip Emmanuel has put into perspective some of the “sensationalism” surrounding the recent growth trend in containerships. Speaking during a plenary session of the TOC Asia Conference in Singapore on Tuesday, he advised ports and terminals to take a measured approach


GSF and BIMCO Publish Standard Box Freight Document

Pic: BIMCO Headquarters

 The Global Shippers Forum (GSF) has joined forces with the Baltic International Maritime Council Organisation (BIMCO) to launch the BIMCO/GSF SERVICECON container shipping contract.    GSF is a NGO inaugurated in the UK four years ago but which represents international shipping


Drydocks World, Maritime World Win ADNOC Awards

Photo: Drydocks World

Drydocks World and Maritine World, international service provider to the shipping, offshore, oil, gas and energy sectors, have been recognized at the ADNOC HSE awards for bringing safety and environment benefits to the industry in partnership with the National Drilling Company (NDC).


Kalmar RoRo forklifts for Messina Line

RoRo forklifts

  Kalmar, part of Cargotec, has clinched a further order to supply seven new Kalmar DCE330-RORO units to the leading Italian shipping firm Messina Line (Ignazio Messina & C S.p.a). The expansion of Messina's fleet has been made in preparation for larger vessels soon coming to their


ConocoPhillips Weighs Sale of North Sea Assets in Norway

ConocoPhillips Inc is weighing sale of some of its North Sea assets in Norway which may fetch as much as $1 billion, Bloomberg reported, citing sources familiar with the matter.   The largest independent producer of oil and natural gas may sell assets that are operated by others including


FMC Chairman Addresses PEMA Ports Program

Mario Cordero (Photo: FMC)

U.S. Federal Maritime Commission (FMC) Chairman Mario Cordero addressed the Professional Environmental Management Association (PEMA) at its Annual Ports Program held in Seal Beach, California. The Chairman spoke on the subject of congestion at U.S






 
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