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| AUGUST 25, 2000 |
Shipping News
- S'pore urged to cater to needs of major carriers
[SINGAPORE] Singapore has been urged to be more flexiblie to the needs of main lines, and to offer them not only efficient services but justifiable prices, to keep them hubbing here.
- Tianjin port spends US$20m to widen channel
- South Korean carrier boosts HK service
- MPA to hold conference on R&D
Air and Land Transport
- UK faces more pressure to open up transatlantic skies
[LONDON] The British government will come under further pressure today to accede to US demands to liberalise transatlantic air services. A study will say that the strong airline alliances resulting from liberalisation could cut air fares by 27 per cent.
- Bahrain asks US for help in crash probe
- Boeing design faulted in TWA 800 crash
- Lufthansa chalks up healthy rise in 1st half profit, sales
- Virgin Blue begins test flights
Features
- Meyer Werft steams ahead
LARGE newbuilding projects for cruise ships are contested by an elite group of European yards, which have consistently shown an ability to satisfy the quality and scheduled delivery demands of the most discriminating owners.
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| AUGUST 25, 2000 |
- Maersk Sealand sparks surge in Moller results
Earnings from shipping jumped by 53% to $120 million.
- Italy's Grimaldi buys Holt Group's stake in ACL
The line now emerges as a likely bidder for control of Atlantic Container Line.
- Tanker rates soar toward $100,000 a day
Supertanker charters rise to their highest level in 25 years.
- Norasia returns to trans-Atlantic service
The carrier is taking slots from parent, CSAV, which earlier this year established its own slot-charter agreement with Senator Lines.
- When freight forwarders are subject to export control laws
Forwarders are faced with the daunting task of sorting through the language of export control laws.
- Halterm earnings jump
- Marine advisory council to hold public meeting on Sept. 15
- Four operators in running for New Orleans terminal
- Operating profit dives at P&O Stena
- Ten years later: AWO lauds results of OPA
- Commission pushes competition in German rail network
- China Southern adds Shanghai to US freight service
- ABS names vice president of technology
- Air Canada, pilots study contract proposal following difficult mediation
- San Juan reopens after brush with Debby
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| AUGUST 25, 2000 |
- Tides of change at PTP
- Yantian marks milestone
- Shanghai attraction
- China Merchants attributes profit surge to ports
- ACE takes aim at the Midwest
- China Southern has bushel of cargo news
- EC gets first intermodal airfreight distribution on rails
- Kinko, FedEx alliance
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| AUGUST 24, 2000 |
- Vessel-sharing CMA-CGM with Maersk-Sealand
- EGL to optimize Harley-Davidson logistics
- Deutsche Post chooses 16 banks
- GE investor in FreightWise
- Better result China Southern
- Drilling of tunnel between Rotterdam and Antwerp takes longer
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| AUGUST 24, 2000 |
- South Africa: Mixed avails
- African East Coast market snapshot
- Good gas oil avails on the African West Coast
- Singapore market review
- Market snapshots; Great Belt, Falmouth, Tallinn
- St Petersburg selling at Rotterdam prices
- Rotterdam: High prices, quiet market
- Gibraltar, Italy and Malta market review
- Good avails in Istanbul
- Very tight fuel oil avails in Piraeus
- Mixed avails in Suez
- Jeddah and Dammam posted prices
- Avails stil tight in Fujairah
- Korea: Prices up in quiet market
- Avails still tight in Japan
- Hong Kong: Crude up, cargo up, bunkers up
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| AUGUST 24, 2000 |
- Meet S-INter SA
- Matson takes over Paragon
- Southeastern Freight Lines expands service network
- BNSF inaugurated new connection
- Brant takes over Universal Express
- Northwest Airlines Cargo signs into Alaska CargoPort
- Seehafen Rostock presents plan for new ferry terminal
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| AUGUST 24, 2000 |
- Rig famine in 2001?
Petrodata Research, the forecasting division of OneOffshore Inc., has announced new findings that suggest that high oil prices may have come too late to avert both a failure in non-OPEC oil supply growth and a new rig market shortage in 2001.
- Western Gulf lease sale attracts $154 million in high bids
This week's Federal offshore natural gas and oil lease sale in the Western Gulf of Mexico received $153,660,031 in high bids.
- Hyundai Heavy Industries creating shipbuilding web
South Korea's Hyundai Heavy Industries is creating a web service that will allow shipowners and naval architects to access and evaluate data on the vast range of components and options involved in shipbuilding. It will also allow customers to ascertain progress reports on their projects.
- Problems at Harland & Wolff
Northern Ireland shipbuilder Harland & Wolff today issued a statement saying "a serious situation has arisen as a direct result of the attitudes and action of Global Marine"
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| AUGUST 25, 2000 |
- Gulf Air disaster will hit London market
LONDON insurance markets will be affected by the crash of Gulf Air flight GF072, which killed all 143 passengers and crew when it plunged into the sea as it approached Bahrain airport.
- Harland & Wolff future 'in balance'
HARLAND & Wolff is set to axe hundreds of jobs next week after its Norwegian parent Fred Olsen Energy confirmed yesterday that a contractual bust-up with Global Marine has placed the future of the Belfast yard in the balance.
- Syndicate 2488 in Moody's accolade
LLOYD'S syndicate 2488, the largest in the market, has been given added recognition as one of its brightest stars.
- Lloyd's decides to try a touch of Class
LLOYD'S is to adopt the Class system.
- Britain asks Calais for new checks on migrants
CALAIS faces renewed pressure from the British government to introduce compulsory lorry checks for stowaways on all trucks bound for Britain.
- Møller in profits surge
THE A P Møller group powered ahead in the first half with substantially better revenue and results for its two listed shipping companies and two partnerships - tankers and liners plus oil and gas.
- European Union lashes US on trade barriers
THE source of underlying tensions that have hampered commercial relations between the United States and the European Union have been highlighted by a European Commission report on barriers to trade and investment in the US.
- The Lamyra loads 50,000 tonnes of barley
The Lamyra loads 50,000 tonnes of barley bound for Saudi Arabia at the Port of Southampton, marking the start of what is forecast to be a busy grain season. Associated British Ports, which owns the port, expects a "bumper season" this year on the strength of a strong harvest in the region. David Doyle, trading manager for Southampton grain terminal operator Soufflet, said: "There has been a general deficit of good quality grain produced in Europe and the good quality in this region will make British exports more competitive, which is good news for Southampton."
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| AUGUST 24, 2000 |
- Harland's 'future at risk'
- Ferrymen face fines over 'illegals'
- HMM stake to be sold
- Call to ease cabotage law
- Greece acts on fire safety
- NCL doubles Star results
- Non-Opec vacuum predicted
- Disposals boost Hutchison profits
- Profits dive at P&O Stena
- IPBCC ups rates
- Chevron cops $6M pollution fine
- Grimaldi raises ACL stake
- Adsteam hints at expansion
- Finnlines dispute settled
- MMA issues 'secret' Erika draft
- WIBDECO seeks EU banana aid
- Early start for Seaway navigation
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| AUGUST 24, 2000 |
- Coflexip Records Best Results Ever
- H&W Decision To Come Soon
- Imtech Wins $141M in Orders
- A.P. Moeller Profits Fly Orange
- Petroleos: Oil Output Is Fine
- Maritime Stocks Move Up
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| AUGUST 25, 2000 |
- Fidelity invests in Frontline
Worlds biggest investment group buys an 11.81% stake in the Norwegian tanker company but shipowner John Fredriksen is taking it calmly.
- Upbeat Moller sees profits mount
A P Moller group shipping company's results showed big interim gains, and the Danish owner is bullish about its year-end prospects.
- Stena Line logs losses
Sweden's Stena Line joins the list of ferry company's whose interim results for 2000 have suffered due to the abolition of duty free sales in Europe.
- Big job cuts for Harland & Wolff
The future of the Belfast shipbuilder is at risk and substantial job cuts inevitable.
- Alcatel to bolster cable ship presence
French telecommunications giant Alcatel is paying just over $100m to acquire Danish cable ship operator Tele Danmark Marine in a move that will bolster its fleet by five ships.
- Ugland Nordic gets a double boost
Strong dollar and charter market puts shuttle tanker specialist on a wave.
- P&I woman to head Lloyd's network
Lloyd's of London has recruited claims expert Sonja Fink to run its worldwide agency system.
- Shell linked to VLGC charter
Anglo-Dutch oil major Shell has been linked to a charter for a very large gas carrier just ordered in Japan.
- Borgestad opts to retain fleet
Norwegian owner Borgestad has decided to hold onto its shipping interests, despite interim losses.
- P&O ferry profits axed
UK-based P&O Ferries and group company P&O Stena Line saw profits crash back, but the company insists it has had a good quarter.
- Kvaerner bags second cruiseship order
Anglo-Norwegian Kvaerner Group has signed a second contract with Carnival Corp for a cruiseship newbuilding, netting $725m worth of work in one week.
- Friede Goldman Halter pulls junk-bond issue
The troubled US shipyard group has shelved a $150m junk-bond issue after the terms of the deal proved too expensive for the company.
- Cammell Laird seeks fresh funding
Britain's Cammell Laird is raising fresh equity to fund expansion in the US and France and is to link with Aker McNulty to tap the FPSO market.
- Star's Hong Kong listing gets thumbs up
Asia's largest cruse ship operator Star Cruises has received shareholder approval for a planned stocklisting in Hong Kong.
- OSG linked to NOL newbuildings
Market talk is circulating suggesting Neptune Orient Line is hooking up with Overseas Shipholding Group in the US on its VLCC newbuildings.
- Cargill denies tug deals are unfair
The giant grain trader has confessed its exclusive towage arrangements on the Mississippi put up owners' costs, but argues they increase efficiency and safety.
- Halim Mazmin profits inch up
Malaysian shipowner Halim Mazmin is extending its fleet, as net profits show marginal improvement.
- "Estonia" ready to give up secrets
A team of divers, accompanied by a TV crew, is due shortly to arrive at the wreck site of the ferry Estonia and begin probing for answers to the disaster.
- Nomadic results in deep freeze
Interim figures for Oslo-listed reefer operator Nomadic Shipping have been described as "the worst ever" by the company.
- Frontline results boom
John Fredriksen's (left) tanker vehicle Frontline saw a first-half bonanza on soaring rates with further rises to come.
- Osprey up on Fredriksen move
Singapore's stockmarket reacted positively on Tuesday to John Fredriksen's acquisition of a major stake in Osprey Maritime.
- Fredriksen grabs stake in Osprey
John Fredriksen (right) has bought the bulk of an Indonesian-controlled shareholding in Osprey Maritime, while Osprey boss Tim Cottew (left) has reclaimed a personal stake.
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