RUNAWAY crude oil prices are affecting Indian shipping companies for better or worse - depending on whether they use oil for fuel or carry it as cargo.

(SINGAPORE) Damco, the freight forwarding arm of giant Danish line Maersk marked its first year of operation by making it to the list of the top 10 global companies in its area of expertise. It was driven by an 'encouraging' 26 per cent revenue growth and 20 per cent increase in client base in the Asia-Pacific region, said Asia-Pacific head Jens Wessel yesterday.

(HELSINKI) Finnish engineering group Wartsila has bought Norwegian ship design firm Vik-Sandvik for up to 170 million euros (S$365 million) to boost its competitive position, Wartsila said yesterday.