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| AUGUST 28, 2000 |
Shipping News
- Policy of not giving dedicated terminals to lines stays: MPA
Singapore port not overly dependent on any one shipping operator
- Pirates attack Malaysian ship
- Ship sales
- Hanjin's profit up 5-fold
Air and Land Transport
- Emirates plans US$3.5b London listing
Middle East carrier Emirates likely to float within five years: analysts
- China Eastern to buy regional airline, lease jets
- Deregulate UK airports, think tank urges
- Decision on cause of crash delayed
- Beijing Airport may acquire nearby Tianjin airport
Features
- Lessons for Singapore's port
Eleven prominent personalities from the international maritime and port community gathered in Singapore last week to give it advice o how to develop further as a leading port and international maritime centre
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| AUGUST 28, 2000 |
- Gunmen board U.S.-flag vessel in Adriatic SeaThe Farrell Lines ship was carrying food bound for Montenegro.
- Customs sets new audits
The agency targets 300 large importers for a second round of exams.
- FastShip to build new Philadelphia box terminal
The facility is slated for completion in 2004.
- Panalpina results soar
The booming oil sector aided the forwarder's first-half recovery.
- A month for all trade bills
Congress is ready to deliver its first major trade legislation since Nafta in 1993-94.
- Customs nets millions from cash smugglers
- Court says forwarder not liable for damaged cargo
- Celadon Group revenues jump but e-biz hurts net
- Exxon Mobil takes delivery of new tanker
- TNT partners with AnythingOvernight.com
- DOT announces truck safety rules
- Pakistan to grant Karachi port more autonomy
- South Korea to build highway to North
- Harland & Wolff, builder of the Titanic, facing similar fate
- Hong Kong's Ocean-Land Group breaks into logistics
- Halterm earnings jump
- Marine advisory council to hold public meeting on Sept. 7
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| AUGUST 28, 2000 |
- Eastbound rate restoration for Mediterranean agreement
- Maersk newbuilding named at Odense Steel Shipyard
- Delta connects Frankfurt, Delhi
- AVTEAM gets ISO9000
- Airborne Express unveils web-based services
- Mueller leaves AA after 31 years
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| AUGUST 25, 2000 |
- Grimaldi buys Holt group's stake in ACL
- Duty free loss dramatic for P&O Ferries
- Limitation of Swissair flights
- Vopak reports restructure and slight growth
- 'Better to stop dispatch of mail to US: TNT Post's dreadful record'
- TNT Partners with AnythingOvernight.com
- China Southern with Chicago-Shanghai direct cargo flights
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| AUGUST 28, 2000 |
- Atlantic Container Line enters LCL/FCL consol arena
- Soya imports: USDA team coming for talks
- Sugar export deals of 1.75 lt clinched
- Textile fair from Oct. 5 to 8
- Scope seen for greater investment ties with sub-Saharan Africa
- Exim Bank bid to widen area of activities
- Minister rules out winding up of DGFT
- India extends Rs 600 m line of credit to Vietnam
- MbPT provides more facilities
- Good response to Haldia Dock tender for berths
- Rains brighten cotton crop prospects
- Bumper wheat crop in the offing
- Customs have finger on global price of goods
- Uniform commodity coding for computing sales tax
- CM expects major chunk of foreign funds inflow into State
- Bid to expedite Mangalore-Hassan gauge conversion
- Delta to link Frankfurt, Delhi from 2001
- AAI bid to raise terminal charges draws flak
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| AUGUST 25, 2000 |
- New company listings at Bunkerworld
- CGES says output hike not likely to affect world prices
- Quiet times on the US east coast
- Lack of RME in Philadelphia
- Prices steady as buyers re-enter market in Houston
- Quiet demand in LA and San Francisco
- Seattle, Portland and Vancouver market review
- Brazil and Mexico market review
- Quiet demand in Ecuador and Panama
- Prices steady in St Eustatius and Chile
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| AUGUST 7, 2000 |
- The end of the Ice age
- News from the high seas
- Pakistan seeks loan for port
- Melbourne upgrade call
- Johor box count rises
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| AUGUST 28, 2000 |
- Carnival earnings warning after cancellations
TOP cruiseship operator Carnival Corp has warned that its fourth-quarter earnings will drop one penny a share following the cancellation of two week-long voyages by its cruise vessel Elation.
- CSAV calls time on acquisitions
Companhia Sud Americana de Vapores has entered a period of consolidation after two years on the acquisition trail.
- QBE reshuffles Limit pack
A MAJOR shake-up in marine underwriting is underway as Australian insurer QBE takes full control of Lloyd's operation Limit.
- Ex-Hyundai chief steps in as cash saviour for unit
SOUTH Korea's largest conglomerate, Hyundai Group, has revealed that former chairman Chung Mong-hun plans to buy a 23.86% stake in its shipping unit Hyundai Merchant Marine.
- Wah Kwong intrigue grows
New owners, George Chao Sze-kwong and Bocimar Far East, have been uncharacteristically quiet in the month since Hong Kong's Wah Kwong Shipping was delisted and went private.
- Buyers get in line for Samsung 12,000 teu design
Designs for ships able to carry up to 12,000 teu developed by Samsung Heavy Industries are attracting considerable interest from potential buyers.
- Spot market for LNG?
A report from the New York brokerage and consultancy, Poten & Partners describes liquefied natural gas carriers as 'strategic assets'.
- Pilot transfer concept now being tested
The new 'Elbe Range' pilot transfer concept, now being tested in the North Sea, is designed to transfer pilots to large vessels more safely, more quickly and more economically.
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| AUGUST 25, 2000 |
- Favourite son to buy HMM stake
- Dock worker injured in fall
- Suez expansion plan catches flak
- Panamax rates hit the heights
- No Daily News on Monday
- Undercurrents in a Golden Ocean
- Box ship bump in Malta
- US steel calls for import curbs
- Suez calls in Japanese advisers
- Protest halts Jakarta terminal
- USCG trains Philippines drug squads
- 'Rust-bucket' Ritas wrangle goes on
- Broker warns of autumn tanker lull
- Skuld adopts syndicate model
- SCI seeks funds for Aframaxes
- China steps up maritime development
- Seven bid for 'test-case' port
- Sri Lanka ferry service re-opens
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| AUGUST 25, 2000 |
- Yang Ming Makes Exec Changes
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| AUGUST 27, 2000 |
- After less than six months in business, FedEx Home Delivery says it plans to cover all of the country in just two years. It's an ambitious plan but FedEx is refusing to grow the business too fast at the expense of reliability. Like the rest of FedEx, the Home Delivery unit is highly automated and leaves little room for error. But unlike FedEx, the drivers operate in a much less structured environment and see themselves as small business owners, not employees. In an era of stock options and company-sponsored health care, you might think it would be hard to find employees who want to take the risk and front the money to work for the new venture, but they are out there.
- Coal-hauling railroads must pay more attention to the prices they charge and the service they render to power generators, said Edison Electric Institute official and transportation expert Charles Linderman, "because there is potential for loss not by what railroads do, but by what they don't do." Linderman said that if railroads don't construct a sturdy new partnership with power generators to make them more competitive by reducing delivered coal costs and improving rail service, electric utilities will be forced to increase their demand for natural gas. But increased dependence on natural gas for peak-load generation, said Linderman, could result in interrupted energy supplies and reduced American-industry competitiveness in world markets because the supply and price of natural gas are subject to wide fluctuation.
- There's not much comfort in the home furnishings business these days. The two largest furniture retailers in the nation have filed for bankruptcy and dot-coms have been falling like dropped pianos. Yet there are rich pickings for third-party logistics companies with the right expertise. High-end brands are looking to expand and there is plenty of scope for streamlining the industry's convoluted supply chains.
- There will be no fire sale of Overnite Transportation Co. by parent Union Pacific Corp. The Richmond, Va.-based carrier, the nation's sixth-largest stand-alone LTL carrier and biggest nonunion LTL carrier, has had its initial public offering shelved indefinitely because of poor market conditions for all trucking companies. Overnite has another unsettled cloud, the 10-month-old unfair labor practice strike by the Teamsters union, although it seems to be recovering from that. Overnite reported its best 90-day financials in the last six years when it posted $12.6 million net income on $283.4 million revenue for the second period ended June 30. Expansion plans are under way in Overnite's regional and Canadian operations and a move into Mexico is planned soon, senior Overnite executives said.
- Pressure from its customers forced Solvay Minerals, the world's second-largest producer of soda ash, to find a software company able to effectively keep track of its customers' inventory and get a better handle on rail car management. It wasn't as easy as it seemed; Solvay found out that most software companies lacked the total package - most, that is, except Transentric, formerly Union Pacific Technologies. Transentric provided Solvay a means to keep track of both inventory and rail car transit times from start to finish along the industrial logistics chain - to the benefit of Solvay and its customers.
- While many shippers are buoyed by the options now available under the relatively new ocean-shipping contracting laws, some chemical shippers are foundering. "Last year, the competitive bidding really made it difficult," said Greg Nikiper, who handles transportation for chemical manufacturer FMC Corp.'s operations in Philadelphia. He's also an official representative for the U.S. Chemical Shippers Association. "Many of us are going back to the carriers we've had our contracts with in the first place," he said. "It's easier to deal with those carriers than to go out for bid."
- The massive recall of Bridgestone/Firestone tires has become an air freight project. In order to expedite the delivery of the 6.5 million tires that have been recalled, the Japanese tire manufacturer is shipping finished tires by air for at least 10 days to speed up the replacement process. Since the Aug. 9 voluntary recall, 560,000 tires were replaced by Aug. 20, but the U.S. plants can't keep up with demand, so the Tokyo area plant is working around the clock to churn out as many tires as humanly possible. Ford Motor Co. is taking a huge financial hit from the recall. Ford shut down three manufacturing plants, idling 6,000 workers, to free up its in stock tires for the recall effort. Thai Airways, Northwest Airlines and probably any airline that has space out of Asia will have new tires in the cargo hold.
- The clouds are clearing and the sky is looking blue - the investment sky, that is, for technology companies receiving funding. Among the recipients are Yantra Corp., FreightWise and AnythingOvernight.com. Supply-chain software company Yantra announced it secured $41 million in funding from investors, including Morgan Stanley Dean Witter Private Equity, Amerindo, Broadvision, VerticalNet and Eastman Chemical Co. FreightWise, an Internet venture of Burlington Northern Santa Fe Corp., said it received an undisclosed amount of venture funding from General Electric Co. Internet-based AnythingOvernight.com snagged $2.25 million in its first formal round of funding led by Dana Commercial Credit Corp., a customer.
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