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| AUGUST 11, 2000 |
Shipping News
- Chemoil, Itochu tie up to take on local oil market
[SINGAPORE] US-based independent bunker seller Chemoil Corp, one of the world's largest independent physical bunker suppliers, has joined hands with Itochu Corp in a joint venture to carry out fuel oil trading and bunkering activities in Singapore.
- Cosco Int'l in talks to buy Cosco Network
- Semb Marine wins $66m deal
- Two die in bulker sinking
Air and Land Transport
- Ailing Thai airline seeks a lift from foreign partner
[BANGKOK] Thailand's ailing, second-largest national airline is considering offers from more than 10 parties and will announce a strategic partnership in October, chairman Somchai Bencharongkul said on Wednesday night.
- Cathay Pacific likely to raise cargo capacity
- Concorde engines undergoing safety refinements: BA
- Japan carriers to set up e-commerce site
- UPS bags US$150m deal from US chipmaker
- Telstra tie-up will boost sales by up to A$700m:Qantas
- China Southern adds A319 to fleet
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| AUGUST 11, 2000 |
- Shippers associations prosper on OSRA
The groups have helped small- and mid-sized importers and exporters gain greater bargaining power.
- UPS snares National Semiconductor logistics account from FedEx
UPS gets five years, $150 million to run NatSem's global supply chain.
- Shipowners attracting record rates for charters
The bull market is is seeing record highs for most types of vessels.
- L.A. Harbor board OKs Maersk's 25-year lease
Pier 400 will be the largest box terminal in the world when done.
- DOT calls for industry talks on HOS truck rules
The controversial rules overhaul hours-of-service guidelines.
- Euro bureaucrats should quit while they're ahead on bulk shipping
Regulators' latest foray into the tanker business has done a world of good for the industry - for the moment.
- Marine Transport Corp. posts second-quarter loss
- Tradiant teams up with Vitria Technology
- BNSF to develop intermodal terminal, auto facility in Joliet
- G-Log, webMethods form e-commerce transportation partnership
- TNT Post Group launches online payment service
- BA World Cargo reports 13% gain in revenue
- APL names Teoh director for Asia/Middle East
- JAL, Vietnam Airlines to start service between Tokyo, Ho Chi Minh City
- Coal, intermodal gains spur slight increase in rail traffic
- Katie saga: Ship escorted to Quebec; may be impounded
- China looks to revive ports in the southwest
- Emery expands guaranteed service within Asia
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| AUGUST 11, 2000 |
- BAX Global's ocean services now cover all Asia
- Asia, Africa rate restoration
- Cathay Pacific announces record interim results
- SIA completes purchase of 25 per cent stake in ANZ
- Hainan Airlines makes inaugural flight to Macau
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| AUGUST 10, 2000 |
- Shipping rates rising
- Cathay Pacific profit jumps
- Salvesen with GM contract
- Kühne & Nagel: profit higher than expected
- KLM employees leave of their own accord
- New Europe-Asia service Lloyd Triestino
- High Hamburg container growth
- US Airways to resume Philadelphia-Amsterdam service
- BA-KLM merger complete 'around end of September'
- Boycott of Betuwelijn threatens
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| AUGUST 11, 2000 |
- SCI Board accepts PWC's plan on rs 1,800-cr. ship acquisition
- UPASI pleads for customs duty hike on rubber, coffee & tea
- Garment exports up by 9 pc in January-July 2000
- Seafood exports increase by 13 pc
- Cardamom exports touch 100 t in Q1
- IMC-IVCCI seminar on Indo-Vietnamese Relations today
- JN Port bid to attract larger ships- Now higher draft for vessels sailing out
- New York Life on board with GPPL
- SAIL to Meet Rlys' rolling-stock needs
- Ficci seeks full tax holiday for corporatised SSIs
- SSI credit quarantee scheme from September: Minister
- IOC to form 5 JVs for LNG project
- IT industry logs 38 pc growth
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| AUGUST 10, 2000 |
- Singapore bunkers seesawing in confused market
- Polish price indications
- St. Petersburg avails improved
- Good avails in Tallinn
- Demand still slow in the Great Belt
- Falmouth market snapshot
- Rotterdam: Blending material in short supply
- East and West Africa snapshot
- Tight avails keeps Fujairah prices high
- Sapref closure continues
- Posted prices for Colombo and Taiwan
- Japanese bunker prices steady
- Mixed avails among South Korean suppliers
- Singapore today
- Hong Kong market review
- Good avails in Italy and Malta
- Quiet week in Gibraltar
- Mixed barge situations in Istanbul
- Piraeus market review
- Jeddah market snapshot
- Tight avails in Port Said
- Petrobras resumes 24 hour deliveries at selected ports
- New weekly global averages
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| AUGUST 10, 2000 |
- Lloyd Triestino to launch new express service between Europe and Asia
- TMM Lines adds 500 reefers to container fleet
- Firmenich and Clariant: subzone status in Port Authority FTZ
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| AUGUST 10, 2000 |
- Hvide Marine cuts losses
"We are gradually turning the corner," commented Hvide Marine, Inc.CEO Gerhard E. Kurz. as the company today reported a net loss of $3.3 million or $0.33 per diluted share for the quarter ended June 30, 2000. That compares with a net loss of $23.7 million or $1.53 per diluted share for the year-earlier period.
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- Metrostar lands ten tanker deal
THEODORE Angelopoulos' Metrostar group has emerged as the winner of a bidding war in the massive en bloc sale of 10 World-Wide Shipping tankers.
- Canada Maritime rocked by departure of Gordon Braun
CANADA Maritime has been rocked by a shake-up of top management with chief executive Gordon Braun leaving the company, claim well- placed sources.
- Den norske Bank purge pays off
DEN norske Bank's celebrated internal clean-up and purge of high-risk borrowers launched in the autumn of 1998 has nearly halved its exposure on oil and gas related loans, to NKr5.6bn ($629m) as of June 30. The figure had been about NKr10bn two years ago.
- Repsol profits surge on back of YPF acquisition
ENERGY group Repsol YPF has said its first-half net profit rose by 303% to E1.14bn ($1.03bn), boosted by high oil prices and by the rewards of last year's purchase of Argentina's leading oil company YPF.
- 'More surgery needed' to bring value to P&O
FURTHER restructuring to unlock shareholder value remains necessary at P&O even after the forthcoming demerger of its cruise business, a leading investment bank has warned.
- P&O Princess shares to be rated below US peers
SHARES in the de-merged P&O Princess cruise business will initially be rated at just below the weighted average of its US peer group, UBS Warburg believes, Tony Gray writes.
- Tirrenia, Fincantieri discuss third ro-pax
ITALIAN state-owned ferry operator Tirrenia di Navigazione and Fincantieri are in negotiations over an order for a fast conventional ferry worth more than E100m ($91m), Lloyd's List can reveal.
- Row goes on as Katie reaches port
The US-owned ro-ro GTS Katie tied up in the port of Becancour yesterday with no apparent end in sight to the commercial dispute that saw her forcibly boarded by Canadian forces intent on retrieving $150m worth of military hardware, writes Sandra Speares.
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| AUGUST 10, 2000 |
- Kværner slammed for 'aid abuses'
- USCG spill team hits 12 ships
- Scapegoat masters - Fairplay report
- VLCCs witness mid-summer mayhem
- Heating oil deficit spur for VLCCs
- People smuggling officers gaoled
- Venice fixes towage charges
- PSA quits Tuscan terminal
- LT boosts Europe-Asia service
- JN port defies chemicals protest
- Malta blast families seek damages
- Metra revives Wärtsilä name
- Stowaway squabble closes port
- Maltese cross over cruise brochure
- Hyundai speeds up shipyard spin off
- Estonia diver 'not bank-rolled'
- LA approves Mærsk lease
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| AUGUST 11, 2000 |
- Lloyd Triestino donne une nouvelle dimension au service CEM
Lloyd Triestino, filiale de Evergreen, va profondément modifier son service CEM entre la Chine, l'Europe et la Méditerranée à partir de la semaine 34 en alignant une nouvelle flotte de porte-containers plus grands et plus rapides. Il s'agit de navires postpanamax du type "U" de Evergreen, pouvant embarquer 5.364 TEU et atteindre une vitesse de croisière de 25 nœuds. Le premier départ est programmé pour le 21 août, lorsque le "LT Ursula" lèvera l'ancre à Shanghai.
- Autriche : road-pricing pour le transport TIR à partir du 1er juillet 2002
Le conseil des ministres autrichien a décrété que le péage automatique (road-pricing) pour les transports routiers TIR entrera en vigueur le 1er juillet 2002. Toutefois, Michael Schmid, ministre de l'Infrastructure et des Transports, a annoncé que le délai pour la soumission de devis relatifs au système de perception du péage (échéance prévue: 15 août 2000) a été prorogé de trois mois "afin de pouvoir choisir la solution la plus moderne et la plus économique".
- Hausse de 25% du trafic combiné Hongrie/ports allemands
Intercontainer/Interfrigo signale qu'au premier semestre de cette année, un trafic record a été noté entre les ports maritimes allemands et la Hongrie. Ce trafic a enregistré une progression de 25%, malgré la grève des deux premières semaines de février chez MAV.
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| AUGUST 10, 2000 |
Maritime Contract News
- Jurong Shipyard Wins Cableship Contract
- Lockheed Martin Wins Search And Rescue Upgrade Contract
- Racal Pelagos Granted $40 Million NOAA Contract
Breaking News
- Full Steam Ahead For Big Cruise Lines
- HHI Profits Plummet 68%
- Viktor Lenac Gets $25M Contract
- Whales Alter Adriatic Navigation
- Engine Room Explosion Cripples Freighter
- Large Tanker Rates Soar
- Bollinger Acquires Five Friede Goldman Shipyards
- Tidewater To Purchase Platform Supply Vessels
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| AUGUST 11, 2000 |
- Color guarantee to lift boycott
Color Line is putting up a guarantee to lift the four-day-old union blockade of a chartered-in ferry.
- Hvide turning the corner
US offshore operator and tanker owner Hvide Marine Inc is steadily improving as first-half results reveal, but there is still a long way to go.
- DnB ship lending rises
Norway's biggest bank DnB Group has increased its exposure to shipping in the first half this year, but is focusing on high-quality clients.
- Christiania ship lending up 15%
Norway's second bank has recorded a 15% rise in lending to shipping, but much of the increase is due to the stronger dollar.
- Swire chief shifts to LevelSeas
Hong Kong's Swire Group shipping company China Navigation has lost its managing director to the dot.com world.
- Losses weigh down Silja Line
Fuel costs and the abolition of duty free sales in the Gulf of Bothnia are making heavy weather for Finnish cruiseship and ferry operator Silja Group.
- Kvaerner slammed in US audit
Anglo-Norwegian group Kvaerner is being scathingly criticised for wasting millions of US taxpayers' dollars in a Philadelphia shipyard deal.
- Ming Wah Universal profits soar
Singapore-stocklisted Ming Wah Universal (Bermuda) Co is expecting a buoyant second half to the year, based on its earnings for the first six months of 2000.
- SembCorp Marine nets first cablelayer
Singapore's SembCorp Marine has boosted the newbuilding orderbook for subsidiary Jurong Shipyard with a $66m contract.
- SCI three-way split planned
Plans to focus the state-owned Indian shipping company on three key areas have been made in a report from consultants.
- Bulkers boost Finland's Aspo
Higher coal and iron ore shipments by ESL Shipping help Finland's Aspo Group to a strong first-half result.
- Cammell Laird cash earmarked for Varna
Bulgarian officials have detailed plans to spend up to $10m of Cammell Laird's funds as part of its rescue bid for Bulgaria's Varna Shipyard.
- Daewoo talks up buyer interest
Troubled Korean shipbuilder Daewoo says an Austrlian company is interested in buying into its shipbuilding unit, but observers are skeptical.
- Bohai Shipyard nets new tanker order
China's Bohai Shipyard is beefing up its small tanker orderbook, while it awaits confirmation on Suezmax and Aframax newbuildings.
- Australia nets two offenders
July was a quiet month for Australia's notoriously thorough port state control teams, who detained just two vessels during the month.
- Pictures reveal seriousness of engine girder defects
TradeWinds has obtained photos which give some of the first indications of VLCC engine bedplate problems.
- OSG operating income jumps
The US bulk shipowner has benefited from the rise in tanker rates but the bottom line still reflects restructuring costs.
- Advisors appointed for LASCO sell-off
The four year saga of Latvian Shipping Co's privatisation has moved a step closer with the selection of auditors to advise on the sell-off process.
- Marine Transport logs losses
US shipowner Marine Transport Corp has unveiled second quarter and interim losses, after being forced to pay out high charterhire levels during the year to date.
- Moller linked to fresh boxship orders
Danish giant A P Moller is rumoured to be in the process of firming up an order for up to five boxship newbuildings in Korea.
- Frontline wins Golden Ocean battle
Shipowner Frontline sailed through a hearing at a Delaware bankruptcy court on Friday and could take over Golden Ocean assets from next week.
- Frontline coup hailed by market
If timing is everything in business, John Fredriksen's next key decision after buying the 13 modern VLCCs formerly owned by the Golden Ocean Group will be when to sell out.
- Cablelayer boom nets GulfMark $3.6m
Strong demand for cablelayers has resulted in a healthy profit on the sale of a platform supply vessel for the US company.
- Cargoship Estela named rustbucket
Port state control authorities in the Paris MOU region have singled out a small freighter with serious structural corrosion for its latest "rustbucket of the month" title.
- Aker rejects "too low" Kvaerner bid
Company owned by Kjell Inge Rokke has turned down the $500m offer from rival led by chairman Christian Bjelland as the takeover battle intensifies.
- Pacific Carriers nets profit on newbuildings
Asian shipowner Pacific Carriers has raked in over $2m profit each on the sale of two product tankers to OMI Corp.
- Maritrans earnings slide
Interim profits fell for US tanker owner Maritrans Inc, but the company remains upbeat about future plans.
- Jacobs in profits warning
The quoted UK shipping and logistics company has warned of a first-half operating loss as its internet delivery service fails to take off.
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