LevelSeas Seeks Funds From Software Company
Internet shipbrokerage Levelseas is seeking to recoup payments from a sacked software developer, a move that illustrates the frustration many Internet start-ups…
Cosco 1H Net Jumps 66%
COSCO Investment (Singapore) Ltd. posted a 66 percent jump in first-half net profit to S$9.25 million ($5.27 million) on greater margins from bulk shipping and its container feeder service operations.
Statoil Criticizes British Gas Plan
Statoil said Britain risks losing out on gas imports if it does not change its pricing system for bringing natural gas onto the mainland from offshore fields. Rune Bjornson…
Pieces of History Are Uncovered in Sydney Harbor
Australian Navy divers have discovered an explosive mystery lying at the entrance to Sydney harbor - four vintage bombs or shells that may be more than 100 years old. The 3 ft.
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.
