SHIPOWNERS who have tonnage entered mutually in Gard P&I Club, one of the world?s top two such organisations, are to receive a total $9m ?give back?.

THE financial restructuring of government-owned Hindustan Shipyard has been delayed further and referred to a group of ministers after suggestions that its expansion plans could cause national security concerns.

JINHUI Shipping and Transportation, the Oslo-listed Hong Kong bulker operator, saw net profit surge 109% to $12.8m in the first quarter buoyed by soaring charter rates. Turnover climbed 49% to $54.3m.

DRYSHIPS chief George Economou has hailed an ?exceptionally strong? first quarter for the Nasdaq-listed dry bulk company, writes Nigel Lowry in Athens.

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SHIPOWNERS who have tonnage entered mutually in Gard P&I Club, one of the world?s top two such organisations, are to receive a total $9m ?give back?.

THE financial restructuring of government-owned Hindustan Shipyard has been delayed further and referred to a group of ministers after suggestions that its expansion plans could cause national security concerns.

JINHUI Shipping and Transportation, the Oslo-listed Hong Kong bulker operator, saw net profit surge 109% to $12.8m in the first quarter buoyed by soaring charter rates. Turnover climbed 49% to $54.3m.

DRYSHIPS chief George Economou has hailed an ?exceptionally strong? first quarter for the Nasdaq-listed dry bulk company, writes Nigel Lowry in Athens.

IMPROVED results for the first quarter of 2007 have been unveiled by the Piraeus Port Authority, the corporation in charge of Greece?s largest port.

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British Admiralty Charts & Publications
The following charts and publications have recently been published by the British Hydrographic Office and are available from branches of Kelvin Hughes Charts and Maritime Supplies.

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AT least five dozen post-panamax containerships are potentially surplus to requirements and may have to be laid-up if demand continues to stagnate.

LINER shipping executives working in the Asia-Europe trades are no strangers to volatile markets, but never have they experienced anything like today?s stormy conditions.

US TEXTILE industry groups, backed by 73 members of Congress, are urging the Bush administration to introduce a monitoring programme to track Chinese shipments of textiles and clothing for possible illegal dumping after quota restraints are lifted at the end of the year, write John Zarocostas and Janet Porter.

CHARTER activity in the very large crude carrier market has quietened down since the Asian holidays started this week, but rates remain firm for both single and double-hulled tankers, writes Martyn Wingrove.

CLEAN

CONTAINERSHIP charter rates have ratcheted down another notch as the worsening global economic outlook leaves lines very much in the driving seat, writes Janet Porter.

CONTAINERSHIP charter rates have ratcheted down another notch as the worsening global economic outlook leaves lines very much in the driving seat, writes Janet Porter.

ORE

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SHIPOWNERS who have tonnage entered mutually in Gard P&I Club, one of the world?s top two such organisations, are to receive a total $9m ?give back?.

THE financial restructuring of government-owned Hindustan Shipyard has been delayed further and referred to a group of ministers after suggestions that its expansion plans could cause national security concerns.

JINHUI Shipping and Transportation, the Oslo-listed Hong Kong bulker operator, saw net profit surge 109% to $12.8m in the first quarter buoyed by soaring charter rates. Turnover climbed 49% to $54.3m.

DRYSHIPS chief George Economou has hailed an ?exceptionally strong? first quarter for the Nasdaq-listed dry bulk company, writes Nigel Lowry in Athens.

IMPROVED results for the first quarter of 2007 have been unveiled by the Piraeus Port Authority, the corporation in charge of Greece?s largest port.

SUE Langley, one of the most high profile personalities in the London market, is to join Lloyd?s to raise operational competitiveness and ensure a focus on North American business, which supplies 40% of revenue at Lloyd?s, writes James Brewer.

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TANKER derivatives rates fell sharply yesterday as traders scrambled to sell their paper amid widespread volatility and global financial chaos.

A REDUCTION of 10% in transportation costs would boost exports from Latin America to the region?s principal trading partner, the US, by 39%, according to a report published by the Inter-American Development Bank.

THERE are now more than 450 export restrictions on raw materials in place across the globe, according to European Union trade commissioner Peter Mandelson, a clear sign that scarcity is leading to ?resource nationalism?, writes Justin Stares in Brussels.

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Price of litre of petrol tops 1 for first time in UK as oil surges on a North Sea storm. By Graeme Wearden.

The pound climbed to $2.10 for the first time since 1981 today, boosted by speculation that China was preparing to shift its foreign reserves out of dollars. By Graeme Wearden.

Market report: London shares resumed their downward trek today, knocked by volatile oil prices, a tumbling dollar, jitters around banks and more anxieties on Wall Street. By Katie Allen.

Virgin Media signals that era of upheaval marked by public rows with BSkyB is behind it as the cable TV company posts strongest customer growth in more than a year. By Katie Allen and Chris Tryhorn.

Henkel, the maker of Schwarzkopf hair products, plans to cut thousands of jobs when it completes its 2.7bn acquisition of ICI’s National Starch adhesives business early next year. By David Gow.

British bus and rail operator says soaring oil price forcing motorists out of their cars and on to public transport. By Dan Milmo.

Outlook at fashion chain Next ‘uncertain’ in run-up to Christmas, company warns. By Julia Finch.

Cable group Virgin Media added 13,000 new customers in the third quarter of the year. By Chris Tryhorn.

King: ‘No disagreement with chancellor’ Authorities knew savers had insufficient protection

Record label Universal Music Classics & Jazz is making its entire catalogue available online without copy protection as part of an experiment to gauge fans’ demand for MP3 tracks. By Katie Allen.

ITV’s share price fell to an all-time low after it emerged the company wants BSkyB to sell its 17.9% stake. By Chris Tryhorn and Katie Allen.

News Corporation has overridden the wishes of Dow Jones shareholders the Bancroft family by appointing a 27-year-old opera singer with little experience of the media to represent the family on its board, according to reports.

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CHEMICAL tanker owners are in for two ?make or break? years in 2009 and 2010 as an overhang of pending newbuilding deliveries outpaces demand, a leading executive has said.

SOMALIA?s pirate gangs are being equipped with increasingly sophisticated technology by their land-based backers, according to a United Nations expert.

RICKMERS-Linie chief executive Jan Steffens has added his voice to the growing number of top executives warning of a shipbuilding time bomb as credit markets deteriorate by the day.

THE Hong Kong government has taken the bold decision to press ahead with the new $927m cruise terminal alone to avoid a second abortive tender, as surging construction costs and the latest financial tsunami deter investors.

IN WHAT could prove a significant step forward for the Ligurian port system, the presidents of the port authorities of Genoa, La Spezia and Savona signed a new association into being with an expansive planning and promotional brief, writes John McLaughlin.

EDUARDO Requiao, the controversial and maverick president of the Paranagua port authority APPA, has been forced to step down from his position so that he can fight nepotism charges brought under a new Brazilian law, writes Rob Ward.

OWNERS engaged in the waterborne transport of forestry products will enjoy a ?super-cycle? with capacity utilisation of more than 90% through to 2012, the Association of Ship Brokers and Agents meeting in Miami was told, writes Rajesh Joshi.

CHEVRON has endorsed the popular notion gaining traction in the shipping industry about human performance being the most serious and prolific cause of marine casualties, writes Rajesh Joshi.

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