Philippines to ban single hulls by April
THE Philippines has become the latest Asian country to accelerate a ban on single-hull tankers, with phasing out now planned as early as April.
OFFSHORE support vessel charter rates in the North Sea have doubled since the start of last week, with the largest anchor handlers securing 160,000 ($272,500) per day in an extremely tight market.
PANIC-fuelled traders have sent dry freight paper rates into freefall, amid growing fears that worsening conditions will see some counterparties default when October?s monthly settlements come.
CLEAN
Liquidity problems hit oil
SUEZMAX tanker owners and oil companies are eagerly waiting for the November stems to emerge so fixture activity can increase, writes Martyn Wingrove.
WITH capesize rates continuing to plunge, brokers believe there is no obvious bottom to the abyss, writes Keith Wallis in Hong Kong.
CHINA?S falling demand for coal is expected to dampen domestic bulk shipping volumes, writes Sandra Tsui in Hong Kong.
ORE
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Share ThisPrice 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
Guide Gear Tents versus Wenzel tents
Share ThisCagliari counting hits Contship?s 2007 growth
LEADING Italian terminal group Contship Italia posted solid growth in 2007, as Gioia Tauro rallied after several troubled years and terminals at Ravenna, Livorno and La Spezia also performed well, writes John McLaughlin.
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.
Share ThisBALTIC TANKER INDICES ? 28 Jan 2008
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Air purifiers, as you likely already know, are electronic machines that work to make the air clean, or pure. Air purifiers are designed to trap and sometimes even completely eliminate harmful air particles or bacteria. While air purifiers are most commonly used in the home, did you know that they can also be used in your place of business?
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.
Share ThisEuropean and Asian shares are volatile as a co-ordinated cutting of interest rates fails to quell investor nerves.
The US treasury secretary warns some banks will still fail despite a $700bn rescue package, as Asian markets enjoy calmer trading.
Iceland takes control of Kaupthing, the country’s largest bank and the third one to be taken over by the government.
Zimbabwe’s annual inflation rate soars to a record 231,000,000% as measured in July, newly-released official figures show.
Some of the most recognised retailers in the US report poor sales figures for the month of September.
The UK government announces a package of new measures to help the banking system which could total 400bn ($692bn).
Shares fall worldwide as as co-ordinated interest rate cuts by major central banks fail to dispel the gloom engulfing world markets.
Icesave internet bank customers are warned they will probably have to claim compensation for money held in their accounts.
Eurotunnel says it lost 21m euros as a result of the fire in the Channel Tunnel which halted traffic last month.
The national debt clock in New York runs out of digits to record the spiralling figure.
How did Iceland’s economy get in such a mess?
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