THE shipping industry has a clear future path on reduction of pollution from ships? exhausts, but no roadmap for managing greenhouse gas emissions after the Marine Environment Protection Committee ended last week without clear conclusions on the issue.

A PREFERRED bidder to buy a controlling stake in Daewoo Shipbuilding and Marine Engineering could be chosen by the Korea Development Bank as early as next week.

POLICE in Gibraltar have arrested three officers from the bulk carrier Fedra, which ran aground on the sheer cliffs of Europa Point last Friday in extreme weather.

SOMALI pirates are looking to hijack more vessels in the Gulf of Aden to replace those they have released after ransoms were paid, writes Marcus Hand.

MONTREAL-based Fednav?s bulk carrier Federal Kivalina was successfully refloated over the weekend after the vessel grounded off the Norwegian coast last week in heavy weather, writes Sandra Speares.

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European leaders in Paris say no major financial institution will be allowed to collapse, as they agree a banking rescue plan.

Four major banks will ask for about 40bn of taxpayers’ money to boost their balance sheets, the BBC learns.

Struggling US car giants General Motors and Chrysler are in talks about a possible merger, US media say.

News, explainers and analysis see full coverage of the global turmoil

The world is facing financial “meltdown”, the International Monetary Fund warns, as it offers help to credit-starved countries.

Venezuela shuts all branches of restaurant chain McDonald’s for 48 hours, citing tax irregularities, officials say.

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SOUTH Tyneside College has launched a new course to hammer home the hazards of entering an enclosed space at sea, writes Felicity Landon.

SHIPPING faces an upsurge in port and onshore labour disputes amid the worst global financial crisis since 1929, according to niche marine mutual the Strike Club.

NEXT week?s critical stockholders? meeting at Oceanaut, the blank cheque company sponsored by Excel Maritime Carriers, has been cancelled ?in light of market conditions? which threaten to undermine its transformational deal for a fleet of bulk carriers.

LONDON insurers should be as concerned about the impact from a catastrophic event in the Gulf of Aden as they are from spiralling ransom demands, a leading London market underwriter has said.

ONE of the five propeller blades of the German-owned CSCL Kelang was found to be missing when it drydocked at MWB shipyard in Bremerhaven. The Antiguan-flagged, 36,003 dwt, 2001-built container vessel was towed from Paranagu to Germany by the tug Sumatras on a six-week voyage after it suffered damage in a grounding off the Brazilian coast. Ralf Witthohn

GULF Marine, headed by the former Asian boss of Total Lubmarine, has entered the marine lubricants market to challenge the traditional dominance of existing firms such as Shell, Mobil and Chevron, writes Keith Wallis.

SOUTH Korea?s Busan Port Authority will break ground on it most ambitious project yet when it starts to convert cargo piers into an international cruise and passenger terminal and a business and tourist centre in November.

SEAFARERS? unions will next week lobby the European parliament in support of their demands that employment terms and conditions on intra-EU ferry services be regulated at levels prevailing in Europe, writes David Osler.

SOMALI pirates have freed the Japanese chemical tanker Irene and its 25 crew after a $1.6m ransom was paid, a regional government official has said.

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SOUTH Tyneside College has launched a new course to hammer home the hazards of entering an enclosed space at sea, writes Felicity Landon.

SHIPPING faces an upsurge in port and onshore labour disputes amid the worst global financial crisis since 1929, according to niche marine mutual the Strike Club.

NEXT week?s critical stockholders? meeting at Oceanaut, the blank cheque company sponsored by Excel Maritime Carriers, has been cancelled ?in light of market conditions? which threaten to undermine its transformational deal for a fleet of bulk carriers.

LONDON insurers should be as concerned about the impact from a catastrophic event in the Gulf of Aden as they are from spiralling ransom demands, a leading London market underwriter has said.

ONE of the five propeller blades of the German-owned CSCL Kelang was found to be missing when it drydocked at MWB shipyard in Bremerhaven. The Antiguan-flagged, 36,003 dwt, 2001-built container vessel was towed from Paranagu to Germany by the tug Sumatras on a six-week voyage after it suffered damage in a grounding off the Brazilian coast. Ralf Witthohn

GULF Marine, headed by the former Asian boss of Total Lubmarine, has entered the marine lubricants market to challenge the traditional dominance of existing firms such as Shell, Mobil and Chevron, writes Keith Wallis.

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These are the reasons why you should consider outsourcing your business process to offshore companies.

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Bulker deals dominate Greek $32bn record spree
GREEK shipowners placed $32bn worth of newbuilding contracts last year, dwarfing activity in 2006, when orders worth $16.7bn made that easily the biggest year for Greek orders.

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Power crisis leads to supply concerns as coal price escalates
THERMAL coal prices at Newcastle, Australia?s largest coal export terminal, jumped to a record high of $102 per tonne this week, as supply concerns in China and South Africa worsened.

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