UP TO 75% of the world?s orderbook under construction could have trouble raising the financing that would bankroll those ships? completion through to 2012, a senior banking executive has hinted.

ITALIAN class society Rina is to introduce a substantially revamped and strengthened version of its successful Green Star environmental notation as a direct response to regulatory discussions at the International Maritime Organization and new developments in industry.

THE International Maritime Organization must urge the UN secretary-general to strengthen the UN security council resolution 1816 on anti-piracy action in the Gulf of Aden, an industry spokesman said yesterday.

THE GLOBAL credit crisis has undermined the banking system and presages a further shift of influence over world trade to Asia, industry leaders were told yesterday.

FRENCH insurers have ensured that their finances are solid in the face of the turmoil affecting the financial markets, writes Andrew Spurrier.

NORWEGIAN shipowner Sea-Cargo has ordered the world?s first gas-driven ro-ro vessels, writes Craig Eason.

SWEDISH shipowner Transatlantic has put one of its three business divisions up for sale in an effort to streamline operations, writes Craig Eason.

POLAND?s state-owned shipyards are preparing themselves for a final rejection by Brussels of the country?s restructuring plans and potential bankruptcy if forced to repay up to ?2.3bn ($3.2bn) of state aid, write Justin Stares in Brussels and Magdalena Marek in Cologne.

JAPAN?S top six shipbuilders received just 18 newbuilding inquiries in August, deepening the gloom in a major shipbuilding nation that continues to lose market share, writes Mike Grinter.

THE Galsi project, that will create a new conduit for natural gas from Algeria to Italy, took a step forward this week with a new agreement on the construction of the Italian section of the 900 km pipeline, writes John McLaughlin.

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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.

DEMAND for tankers to act as floating storage units in the Black and Baltic seas is bound to pick up after the Russian government introduced tax breaks.

NAMES at Lloyd?s are continuing to reap better rewards from the market than the dominant corporates, according to an analysis commissioned from ratings agency Moody?s by the Associa- tion of Lloyd?s Members.

From Dr NE Dangoor

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One stage when I was shopping with one of the foster family we were unable to find a set of pots and pans. The last store we went to was having a substantial sale forasmuch as we had planned to buy them practiced, however they were enticed out. A few days following I was at the duplicate chain discount store in too many village and get going the pots and pans. I put the charge on my personal credit card and turned in the receipt for reimbursement. The accounting department told me that this was acceptable. One of the accounting clerks told me that this would be how she would do it if she took the kids shopping because you do not have to bother with the authorization letter and you get the rewards points on your credit card. They pay expense checks twice a month so you can always get reimbursed before your credit card payment is due. This was a great idea, I no longer use the business credit cards I get reimbursed for my personal one.

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