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| AUGUST 4, 2000 |
Shipping News
- Injunction sought against Filipino seamen contract
TWO Filipino seamen have applied to the Philippine Supreme Court for a temporary restraining order against the implementation of a revised contract for overseas Filipino seafarers. The Philippine Overseas Employment Administration (POEA), the state agency which regulates the deployment of overseas Filipino workers, requires foreign shipowners to use this document as the minimum standard in their individual employment contracts with Filipino seamen. The contract which has been in force since 1989 was recently revised and the revisions took effect on June 30.
- Artifacts recovered from inside Titanic wreck
- Slot-exchange deal on Asia-Med trade
- Hanjin's profit at record high
- Klang Container sees rise in volumes
Air and Land Transport
- FAA may penalise Boeing for alleged violations
[SEATTLE] The Federal Aviation Administration (FAA) said it might penalise Boeing Co US$1.24 million (S$2.1 million) for allegedly failing to meet standards on quality control and deadlines for reporting airplane defects.
- China not raising foreign ownership of airlines
- Experts to examine engines for clues
- BA's low-fare carrier Go adds new routes
- Air Canada's profits surge strongly
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| AUGUST 4, 2000 |
- Canadian navy escorts embattled US cargo ship
Military personnel board GTS Katie south of Newfoundland after ship owners refused to deliver over payment dispute.
- China entry into WTO to open door for foreign logistics cos.: Report
The liberalization of distribution will increase the demand for supply-chain management providers, a study finds.
- P&O Nedlloyd confirms weekly Farrell Med sked
Port-to-port transit times will be among the fastest on the Mediterranean-U.S. East Coast trade.
- Austria may ban trucks, EU warns its members
The link between Germany and Italy would be in jeopardy if agreement is not reached on Alpine transit reduction.
- How to choose a customs broker
A primer on choosing a broker for the first time or reconsidering their existing relationship with one.
- Export ABCs by Donald Fischer: How to choose a customs broker
- Circle International net income up 35%
- MC Shipping posts $22.3 million second-quarter loss
- Cyprus tightens the scews on its ship registry
- American Airlines Cargo shelves fuel surcharge hike
- Hong Kong airport awards contract for maritime terminal
- Great Western Steamship names vice president, commercial
- TDG eyes European acquisitions
- Australia to adopt new import fumigation program
- EU backs intermodal projects
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| AUGUST 4, 2000 |
- Seatrade requests entries for 2001 awards
- SIA opts for more B777 jets
- EC OKs French consolidation
- Egyptian Israeli dispute resolved
- UPS buoyed by record 2Q
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| AUGUST 3, 2000 |
- ITF's Global Mariner sunk
- Hong Kong and China reach out in 'the air'
- Kuwait Petroleum takes over Spanish Coatra
- Hamburg-Sud restructures logistics unit
- USPS put electronic services to the test
- North Sea Aframaxes warm in med
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| AUGUST 4, 2000 |
- LCL Agencies India Pvt. Ltd enters new era in consolidation
- EMU Lines launches mixed cargo consolidation service from ICD - New Delhi
- Wool imports from Australia heading for record high
- Nepal keen on more Indian investments
- Contract for edible oil buyer-seller introduced
- GCPTCL Port to be commissioned this month
- Steady rise in NMPT box traffic
- Port & Dock workers' wage settlement concluded
- P. D. Rathi elected VP of Major Ports officers' body
- Assocham against further hike in lending rates
- Fiscal deficit falls by 25 pc
- Core group of secretaries agrees to infrastructure status for LNG projects
- RBI formulates settlement rules for NPAs
- ADB advice: Bring about reforms in road sector
- Record world cotton use seen
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| AUGUST 3, 2000 |
- Market snapshots from Tallinn, Klaipeda and St. Petersburg
- Holiday quiet in Great Belt
- Spot prices firming slightly in Rotterdam
- Cape Town prices well above Durban
- Good bunkering activity in Polish ports
- Tight avails still in Genoa
- Istanbul and Gibraltar snapshots
- Avails no problem in Piraeus
- Light demand keeps Singapore prices in check
- Arab Gulf market report: Kuwait still out of fuel oil
- Middle East market report: Suez and Jeddah
- Bunkers expected up in South Korea
- Huge demand in Japan
- Hong Kong suffering slow demand
- New weekly global averages
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| AUGUST 3, 2000 |
- New cranes for Charleston
- New agreement concluded between Coscon (Cosco container lines) and Zim Israel Navigation Co Ltd
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| AUGUST 4, 2000 |
- Lucina latest to go in Shell clear out
SHELL has taken the reduction programme of its owned fleet a stage further with the sale of an ageing very large crude carrier.
- Jones quits for British Marine
SHIPOWNERS' insurance is to undergo one of its biggest shake-ups for years after high-profile underwriter Jonathan Jones confirmed he is leaving the Lloyd's market to team up with an ambitious private provider.
- Pressure mounts on Amer Reefer
RAVI Mehrotra's Amer Reefer has seen its credit rating downgraded again, just four weeks before a problematic $5m interest payment is due.
- BT Shipping waits for Nasdaq verdict
FORMER tanker owner BT Shipping will shortly find out whether its battle to retain a Nasdaq stock market listing, despite becoming a shell company, has been successful, writes Tony Gray.
- Acomarit no-risk appointment
SHIPMANAGEMENT major Acomarit has promoted Glasgow-based risk manager Nigel Adams to a newly-created position, taking overall responsibility for safety, risk and quality across the group.
- Gdynia lands eight-vessel order
GERMAN owners Peter D'hle and Rickmers Reederei have ordered eight 4,370 teu container vessels from Gdynia Shipyard in Poland, plus two options.
- War declared on the FoC money launderers
A NEW assault by super-sleuths on undercover financial activities could help to smash links which have flourished unchecked for years between flags of convenience and money-launderers.
- Barrios takes on key Panama marine role
MARIE de Barrios has taken up office as the new director in Panama's merchant marine directorate.
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| AUGUST 3, 2000 |
- Oil price unsustainable, Shell boss
- Shell LNG commitment reaps rewards
- ITF mourns 'sad loss'
- Asset sales clobber HHI
- Rig hostages to be freed
- Detectors failed on deaths ferry
- Philippine go-ahead for rate hikes
- Samsung's profits tumble
- Hanjin's profits up five-fold
- Arms ship dispute deadlocked
- India LNG plans win support
- Szczecin to expand duty-free zone
- Indian seamen win new benefits
- Indonesia to build four box ports
- Cosco and Zim sign slot deal
- Indonesia still piracy black spot
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| AUGUST 4, 2000 |
- Millennium bug hits Celebrity
Problems with excessive vibration on Celebrity Cruises gas-turbined cruiseship Millennium threaten to put it out of action.
- TradeWinds 4 August: Page 21
Page 21 in this week's hard copy version of TradeWinds is missing due to a production problem. However, readers can view this page and its stories via the link given here.
- Greek owners eye Olympic
Some of Greece's top shipowners are considering investing in their country's troubled airline.
- Amer Reefer debt rating near rock bottom
Standard & Poor's has put Amer Reefer's corporate and senior secured debt on creditwatch and says it may not be able to meet the next interest payment.
- Global Mariner inquiry starts
An investigation into the sinking of the ITF-owned training ship has begun, with the head of the UK marine accident unit flying out to Venezuela.
- Negros Navigation shows a profit
Philippine ferry owner Negros Navigation Co Inc halved its interim losses, and showed a second quarter profit.
- Profits slide at Korean yards
Both Hyundai and Samsung logged a fall in half year profits as loss-making business units dragged down earnings.
- Hanjin Shipping sees profits jump
Korean shipowner Hanjin Shipping Co logged a record half year profit this year on the back of increased international business.
- Higher claims hit Gard
Free reserves of ambitious Norwegian P&I club down 6% after $55m underwriting loss.
- MC Shipping sales plans boost losses
Planned ship sell-offs and disposals have lumbered US-stocklisted MC Shipping with a fresh toll of losses.
- BT Shipping threatened with delisting
Nasdaq is wielding the axe over the head of BT Shipping, as the cash strapped company struggles to restructure itself.
- P&O in debt rating downgrade
Moody's have lowered P&O's senior debt rating while assigning a Baa1 to planned Princess Cruises bonds.
- Conoco and Maritrans team up on shuttle tankers
US shipowners Conoco and Maritrans Inc are joining forces on shuttle tanker design.
- Tanker boom puts Knightsbridge in the money
Soaring earnings of the Ola Lorentzon headed company have turned high priced VLCCs into a real bargain.
- Stena scoops VLCC time-charter
Swedish tanker operator Stena Bulk has time-chartered one of its newly built VLCCs at a healthy rate.
- Bocimar mounts fresh Capesize spree
Belgian Capesize supremo Bocimar has swooped on the Capesize bulker market again, fixing a raft of vessels at strong rates.
- Novoship plans fleet restructuring
Russian owner to focus on tanker trade in fleet renewal programme.
- Ukraine yard on the block
A majority stake in the Okean yard is to be sold at auction next month.
- TMM in $8m chemical deal
Mexican transport company clinches two-year contract to ship bulk chemicals.
- Secondhand VLCCs fetch strong prices
Two 1970s-built VLCCs are rumoured to have been sold at healthy prices, way above demolition levels.
- Smit buys Rivtow Marine
Dutch salvage and towage group buys Canadian counterpart.
- OMI moves into larger product carriers
The US shipowner is buying two double hulled newbuildings from Pacific Carriers as part of a plan to move into a bigger league.
- Piracy attacks up in Malacca Straits
Reports of pirate attacks on merchant shipping in the first half of 2000 showed a worrying concentration in one of southeast Asia's busiest sea lanes.
- Clarksons closes Seabrokers
Shipbroker Clarksons is shutting up its US tanker shop and laying off 11 staff.
- Star Cruises details fundraising plans
Asian cruise king Star Cruises has outlined its proposals to raise cash.
- BP toughens tanker vetting standards
Oil major BP has announced new structural standards for tanker vetting from the start of next year.
- Italy to axe shipbuilding costs
Tax and interest rate package set to cut newbuilding costs by a fifth.
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