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| DECEMBER 19, 2002 |
Shipping News
- S'pore port authority to step up checks on older vessels
SINGAPORE is set to more closely scrutinise ageing vessels, in particular oil tankers, as the fallout from the Prestige tanker disaster off the coast of Spain sends ripples across the world's waterways.
- Danish ferry fire in 1990 was arson: witness
- NOL outsources financial transactions management
- Bad weather forces Suez Canal to close
- UK port firm expects full-year sales, profit to increase
- Hong Kong set to remain world's top container port
- More China sea freight
- CP Ships pulls out of slot charter deal
Air and Land Transport
- Wellington gives its approval to Air NZ-Qantas alliance
A proposed alliance between Air New Zealand Ltd and Australia's Qantas Airways Ltd cleared its first hurdle yesterday when the New Zealand government said the deal was in the national interest.
- United to seek court's nod to cut wages if talks fail
- MAS gets access to 10 more Chinese cities
- Royal Jordanian forecasts US$1m profit for this year
- Former top bureaucrat to head Sydney Airport Corp
- US importers urged to share added security costs
- Asean freight forwarders group gets new chairman
- YCH to put US$5m into Tianjin logistics distripark
- FedEx to launch six more flights out of HK
- Emery Forwarding names 3 new regional MDs
- UK government drops road traffic target
- Log Book
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| DECEMBER 19, 2002 |
- Vague cargo manifest descriptions out: US Customs
- Famous Pacific granted China NVOCC licence
- CP Ships set to leave Asia-Europe slot charter in March
- NOL Group signs outsourcing agreement with Accenture
- WTSA gets teeth into meaty rate hikes on US-Asia services
- Cathay Pacific November traffic shows slowdown
- BA reduces Airbus order, but cost remains the same
- Tibbett & Britten makes some changes at the top
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| DECEMBER 18, 2002 |
- Russian transport conflict escalating
The European Union has weighed in on a dispute between Russia and the International Road Transport Union.
- CP Ships to withdraw from Asia-Europe slot charter
CP Ships announced is to withdraw from its slot charter agreement with CMA CGM in the Asia-Europe trades effective early March 2003.
- Air NZ-Qantas deal gets NZ Government approval
'The $520 million Qantas-Air New Zealand alliance cleared its first major hurdle after the New Zealand Government approved the deal.
- Air France prepares for sell-off
The French government has confirmed plans to sell off 30-40 per cent of Air France - but not quite yet.
- Carlyle Group acquires CSX Lines majority
Global private equity firm The Carlyle Group today announced that it has agreed to acquire a majority stake in CSX Lines, LLC from the CSX Corp. in a transaction valued at $300 million. CSX Lines, with 17 U.S. flag vessels and 22,000 containers, is largest ocean transport company in the US.
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| DECEMBER 19, 2002 |
- IICL to conduct reefer courses in Singapore
- Maersk Sealand judged ‘Most Reliable Carrier’ by Hong Kong Shipping Gazette
- Franco Vago SPA re-launches operations in India
- Gokul Maritime earns laurels for limestone discharge rate at Mumbai Port
- EU leads in initiating anti-dumping cases against Indian companies
- Export Import Workshop to felicitate 12th batch of students on Dec. 21
- New Mangalore Port handles record 11,837 t. coal in a day
- EEFC account facility for DTA units
- Move to convert part of Thane-Belapur belt into special economic zone
- IEG study forecasts 6 pc industrial growth during next 3 months
- Silk Board to popularise ‘Vanya’
- Jaswant hints at simplified, hassle-free tax regime
- Govt to convert Noida, Falta EPZs into SEZs from January
- Minister launches new logos for coffee
- New Ficci chief calls for rationalisation of duty structure
- ‘Reduce corporate tax, scrap surcharge, MAT’
- Top exporters in 2002-03 to be issued status certificates
- CII seeks 8 pc duty on textiles
- PGDFT admissions open at WTI
- Tanzanian President to speak at IMC meet today
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| DECEMBER 18, 2002 |
- USWC: Very high demand
- Vancouver: Heavy demand leaves avails tight
- Pacific North West: Bad weather affects supply
- Panama: Suppliers patiently await re-supply
- English Channel: Salvors one step closer to bunker removal
- Late crude rally pushes Rotterdam barge market higher
- US tipped to use SPR to make up for Venezuela shortfall
- War jitters spurs crude to new highs
- Spain prohibits single hull tankers from Jan 1, 2003
- African market report from GAC
- Market update from Ecuador
- Egypt: Normal supply situation returns to Port Said
- API/DOE show US oil stocks in better shape than expected
- Canaries: Las Palmas heavy demand, no fueloil in Tenerife
- Tight avails in Istanbul
- Tanker collision in Marmara Sea
- Heavy holiday demand leaves heavy congestion in Gibraltar
- Murmansk STS loading trials continue
- SPR drawdown for US refiners?
- Piraeus indications still feeling brunt of crude surge
- Saudi posted prices
- US independents join forces to boost supply and marketing reach
- Korean indications slide as crude looks to have topped out
- Rotterdam prices ease slightly
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| DECEMBER 18, 2002 |
- Oceangate Distribution reduces storage costs
- New Washington air traffic control facility begins operation
- ABX extends IC courier services
- Schenker opens a new terminal in Schweinfurt (Germany)
- Airports of Paris report steady progress in 2002
- Inland shipping freight market, week 50, 9th/13th December, 2002
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| DECEMBER 18, 2002 |
- Carlyle buys CSX Lines
$300 million deal and a new name
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| DECEMBER 18, 2002 |
- CSX selling container line to The Carlyle Group
- New ship makes first call at Port of Vancouver, USA
- MOL moving forward with expansion of tanker fleet
- Port of Portland planning director leaving position to join law firm
- CP Ships pulling out of Asia/Europe slot agreement
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| DECEMBER 19, 2002 |
- CSX Lines widens Horizon after $300m Carlyle deal
CSX Lines president Chuck Raymond already has his eyes on expansion in the wake of the announced acquisition of the company by Washington-based private equity firm The Carlyle Group.
- MoD eyes trio as Hoon puts nation on war footing
Brokers said that military logistics specialists had approached the London market to fix two large ships and a heavy-lift vessel for 90 days from mid-January.
- CSKD-Intertrans sale
A letter of intent has been signed with the deal expected to be effective on January 1, 2003. No financial details were revealed.
- Record hits on Equasis because of Prestige
SHIPPING quality database Equasis says the Prestige casualty was behind increased traffic on the site during November.
- Smit Salvage gears up for Herculean task on Tricolor
DIVERS from Smit Salvage have managed to make an initial investigation of the stricken car carrier Tricolor and the Dutch company is hopeful that it can begin pumping oil off the vessel tomorrow afternoon if weather permits.
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| DECEMBER 18, 2002 |
- Port investment guidelines issued
- Divers assess Tricolor condition
- Container gassing facility upgraded
- P&O to focus on minor Indian ports
- Tankers arrested in owners dispute
- Rapid rise in China energy demand
- Seafarers' hours must be respected
- Master to be prosecuted for spill
- Reef pilots offer compensation
- Doubts raised over Hibiki talks
- Chemical storage rules tightened
- CP Ships pulls out of Asia-Europe
- Cruise ship cancels Mombasa call
- Carlyle Group buys CSX Lines
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| DECEMBER 18, 2002 |
- FedEx sees ground gains in 3Q
Overnight delivery giant beats estimates despite drop in express income.
- U.S. trade deficit eased by lock-out
The trade imbalance dropped to $35.1 billion in October, its best showing in months, as the West Coast port shutdown slowed imports.
- Senator Line cutting U.S. services
A restructuring will cut nine of 13 services, mostly trans-Atlantic and trans-Pacific routes to the United States, beginning in January.
- Carriers required to e-file on empties
- Sale of Air France shares planned
- Malaysia adds China air cargo rights
- Target Logistics acquires forwarder
- Layoffs for GM locomotive works
- Canadian National refinances $1B credit facility
- GATX acquires European railcar lessor
- Accenture gets NOL transactions accounting
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| DECEMBER 19, 2002 |
- L’IRU et la Russie arrivent à un accord sur le TIR
La crise a été évitée de justesse. Les négociations tenues mardi entre le Comité National des Douanes de la Fédération de Russie et l’IRU, auxquelles participaient les hautes instances de la CEE-ONU, ont abouti à la signature d’un accord de coopération. De ce fait, la couverture d’assurance du régime TIR est maintenue en Russie. Compte tenu de l’ampleur de la fraude en Russie et de l’attitude intransigeante des douanes russes, l’IRU avait annoncé le 10 décembre dernier que cette couverture serait supprimée le 25 décembre.
- Kombiverkehr aligne des trains-blocs supplémentaires
Kombiverkehr a adapté sa programmation des services et a renforcé l’offre de liaisons ferroviaires internationales pour le transport combiné non accompagné. 100 trains blocs - trains directs et navettes confondus - sont désormais proposés tous les jours à travers l’Europe. Selon Kombiverkehr, une évolution se manifeste des wagons isolés vers les trains blocs.
- La Container Security Initiative est au point
La Container Security Initiative semble fonctionner. C’est ce qu’indiquent les premières expériences. Maintenant que le Royaume-Uni a également adhéré à la CSI, le réseau de sécurisation pourra en outre être densifié davantage encore. L’Operation Safe Commerce lancée pour le trafic containérisé entre les Etats-Unis et le Canada semble également évoluer de manière positive.
- Les ministres des Transports se pencheront le 31 décembre prochain sur le probléme des écopoints
Les ministres européens des Transports se réuniront à Bruxelles le 31 décembre prochain afin de résoudre les problèmes concernant la prolongation du système des écopoints. Lors du sommet européen de Copenhague, les chefs de gouvernement et d’Etat européens se sont résolus à prendre cette mesure. Dans leur communiqué final, ils ont mentionné un règlement intérimaire (prolongation) pour trois ans comme l’avait exigé l’Autriche, qui en tant que pays de transit est le plus concerné par cette matière.
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| DECEMBER 18, 2002 |
- Moody's hits PDVSA in the wallet
Ratings agency says strike uncertainties underlie widespread downgrades.
- Lehman raises Teekay price target by 20%
Investment bank puts 12-month price at $50 after Navion deal, but still reckons Frontline is a better buy.
- GulfMark files $250m shelf registration
Offshore company lays groundwork for future capital raising in the US.
- Prestige clean-up bill tops $200m
But reports say oil leakage from sunken aframax is slowing.
- Trustee to keep an eye on Actinor
Bondholders and management to run shipowner together, as restructuring talks continue.
- No US trade for Golar
John Fredriksen making little effort to push his LNG company on the US Nasdaq.
- Four Kiwi boxships up for sale
Skeggs Group looking for buyer for coastal New Zealand operator Pacifica.
- Japan yard orders fall to year low
November's reported newbuilding contracts were half the level seen in October and the lowest this fiscal year.
- Growth expected at ABP
UK and US ports group signals higher revenues and profits for 2002.
- Tankers collide off Turkey
But damage to vessels described as minor with virtually no risk of spillage.
- U-Ming signs up for panamaxes at CSBC
Company president C K Ong says the price was right.
- Cenargo heads into default
Troubled UK ferry group begins talks with bondholders after it misses interest payment.
- Thoresen Thai scraps again
Thai owner grabs $1m for 1977-built general cargoship.
- CP Ships to quit Asia-Europe slot deal
London-based containership operator to withdraw from agreement with CMA CGM.
- Carlyle takes majority stake in CSX Lines
US private equity firm is going into the boxship business with investment in US liner firm.
- Rodriquez inks NLG ferry newbuilding
Italian monohull specialist wins order from Naples-based Navigazione Libera del Golfo.
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