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| MAY 20, 2002 |
Shipping News
- HK port volume up in April, fuelling recovery hopes
CONTAINER traffic in Hong Kong bounced back in April after a 12-month slump, adding to growing evidence that the territory may already be experiencing an export-driven recovery, economists said.
- Tonga closing down int'l ship registry
- Kaohsiung set to build 6th box terminal
- Fire-stricken ferry crew, passengers praised
- Maersk, Evergreen in slot swap deal
Air and Land Transport
- Japan mulls new air traffic controls: report
A Japanese transport ministry panel has started considering giving priority to orders made by computers rather than instructions from air traffic controllers to avoid plane collisions, Kyodo news agency reported yesterday, citing ministry sources.
- Bangkok Airways to up flights to Cambodia
- US extends war risk insurance for airlines
- US Airways seeks US$950m yearly savings on labour
- KLM in plane leasing accord
- China crash: flight data recorder found
- Boeing lays off 1,500 workers
- Crossair expects to carry 11m passengers this year
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| MAY 20, 2002 |
- HA Logistics makes special moves
- New Wave easier to catch
- Pacer names Fiori as president
- BNSF hoists Wal-Mart honours
- SIA profit down 61pc; 10pc cargo capacity growth seen
- Cargolux stays profitable as belly capacity cut
- United to serve Buenos Aires, Sao Paulo daily ex Washington
- FedEx to be sponsor, official carrier of French Open tennis
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| MAY 17, 2002 |
- CEO ECT leaves board
Europe Container Terminals (ECT), controlled by Hutchison Port Holdings, just announced that Steven Lak is to leave his post as chief executive.
- Slight profit for K Line
K Line had consolidated operating income of 19 billion yen ($143 million) in fiscal 2001, off 47 per cent from 2001.
- Lufthansa Cargo satisfied with Q1 2002
In the first quarter 2002, Lufthansa Cargo AG lifted pre-tax results to 2.8 million euros, which is 15.7 million euros up, compared to Q1 2001.
- Profit Mitsui OSK down 3.6 per cent
Mitsu OSK Lines reported group net profit of 10.5 billion yen for the latest fiscal year ended March 31, down 3.6 per cent on year, due to intensifying price competition.
- P&O expecting 'further uplift'
At P&O's Annual General Meeting in London today, the Chairman, Lord Sterling, reported optimism on the second half of 2002.
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| MAY 20, 2002 |
- 6 yards offer to build VLCCs for SCI, but govt stalls major investments
- Goyal visits office of Seamen’s PF Commissioner
- MOL, Oman to raise SCI share of $ 33m: Greenfield
- Focus: Africa programme may give fillip to exports to sub-Saharan area
- Foreign food products companies now target Indian stomach!
- Grape exporters bag juicy market in UK
- Spices exports pick up
- Balmer Lawrie CFS allowed satellite services to Haldia Port
- A-I seeks more flights to UK, direct service to Chicago
- Govt hikes import tariff on palm oils by $ 28-30 per tonne
- New policy soon on grain movement
- Govt may release more garment quotas to halt rising premia claims
- EIC system boon for exporters: Rudy
- 400 pc increase in Bhel exports
- Controversial US farm subsidy law worries India
- India, Thailand, Myanmar to give concrete shape to Asian highway dream
- Rice exports may touch 5-m tonne mark in 2003
- Patents Bill gets assent of Parliament
- Highway BOT project contracts exceed govt expectations
- Withdrawal of SAD exemption on DEPB lands exporters in trouble
- DCA reviewing changes in Companies Act
- Asian leaders want agri sector out of WTO rules
- Soota in China to attend CCPIT session
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| MAY 17, 2002 |
- EU Commission discusses tax on oil products
- Bunker prices for Brazilian ports
- Chile market report from PMC
- Crude oil falls on Iraq, Russia's announcement
- Rotterdam market report from Marine Bunkering
- US Gulf markets softer
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| MAY 17, 2002 |
- Port of Vancouver, USA charting new course
- Rail intermodal traffic count stretches winning streak to five weeks
- Associated Bulk Carriers sells four ships to Eurotower
- Lasco board names Anton Pardini president and chief operating officer
- Blunk named Federal Security Director for Seattle-Tacoma International Airport
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| MAY 20, 2002 |
- Princess of Scandinavia limps into port after fire
A FIRE-DAMAGED Danish passenger ferry with 884 people on board has limped safely into the port of Kristiansand, Norway, after triggering a major North Sea rescue alert on Friday night.
- Tonga pulls plug on troubled flag
AROUND 200 ships will be searching for a new registry after Tonga’s decision to pull the plug on its fledgling flag of convenience, following a series of embarrassing incidents involving its vessels.
- Container lines deny claims of transpacific rates discrimination
CARRIER representatives hit back last week at claims by US forwarders and non-vessel operating common carriers that members of the Transpacific Stabilisation Agreement had discriminated against them on rates.
- Minister moves to calm fears of PSA split
Singapore’s PSA Corporation, the world’s second largest terminal operator, has received government assurances that it will not be split into separate companies for domestic and international traffic.
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| MAY 17, 2002 |
- Builders question EU resolve
- Europe fears US security measures
- Superfast launches Scottish service
- Kembla coal 'close to normal'
- FMC probes trans-Pacific lines
- ECT loses president Lak
- Security measures added to Solas
- New breaker for Pipavav
- SCI to go ahead with tanker talks
- Shock decision on Szczecin yard
- Korean yards plan ahead
- Murder seafarers to be deported
- Japan casts crew net wider
- Unitor hits back in Philippines
- St Petersburg responds to critics
- Fast-track privatisation for Durban
- Tonga registry closed
- Mexico quashes merger plan
- Maersk, Evergreen link up
- NSCSA ceases container operations
- Qasim secures Afghan transit role
- Peru to hasten Callao privatisation
- Puerto Ventanas expansion on
- Thailand plans maritime law changes
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| MAY 17, 2002 |
- Recovery underway, says P&O chief
The chairman of Peninsular and Oriental Steam Navigation Co. told shareholders that container volume increased 9% at the company's ports in the first quarter.
- Bill would drop "Freight All Kinds," other container-related terms
A new port security bill would eliminate non-specific wording used to describe containerized shipments.
- P&O exiting bulk sector
The transport company shed its stakes in four bulk vessels as the British transport group focuses on its fast-growing ports and ferry operations.
- MOL profits slip on box woes
- Proposal for joint U.S.-Canada customs inspection
- Pacer plans public offering
- Japan to impose tariffs on U.S. steel
- New box detectors, agents for Halifax
- NYK Line net tumbles
- MOL forms India unit
- Union sues UP over remote control locos
- China's Guangdong eyes shorter clearance waits
- Cyanide missing from stolen truck
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| MAY 17, 2002 |
- Teekay stock flexes muscles
Firm rates helped push stock above $40 level for the first time since July 2001.
- Seacor Smit's outlook revised to positive
The newbuilding programme and expected market recovery are to boost the company's ratings.
- Trico Marine plans $250m bond offer
Net proceeds will be used to purchase existing 8.50% senior notes due 2005.
- Tanker rates escalate
Fred Cheng battles on to grab time-charter business for his new VLCC.
- Sea Containers outlook seen bullish
This is despite $5.7m net loss suffered in the first quarter.
- Smaller Japanese owners struggle
Bulker owners Shinwa Naiko, Tamai Steamship and Taiheiyo see earnings shrink over past year.
- Ensco's expansion plan seen positive
But the company stock fell by more than $3 in the past two days.
- Trinity defends against lawsuit
Trinity Industries denies responsibilities for barge corrosion problem.
- NOL hunts for aframax tankers
Singapore's Neptune Orient Lines keeping firm eye on its tanker market prospects.
- Daiichi slims down for profit
Japanese bulker and tanker owner trimmed fleet last year, but landed back in the black.
- P&O bullish on outlook
Lord Sterling targets reduction of P&O Nedlloyd stake as top objective.
- Tokyo Senpaku plunges to loss
Japanese feeder operator in the red during last independent year before imminent NYK takeover.
- NYK downbeat on prospects
Japanese giant's 2001 profit halved as it warned of lower figure for 2002.
- Global woes make dent in MOL profits
Net profits at the Japanese shipowner were down 3.6% due to poor world economy and September 11.
- Poland may merge top yards
Rescue deal values troubled Stocznia Szczecin at less than a dollar.
- Masa-Yards continues to shine
Kvaerner's Finnish shipyards increased operating profit in the first quarter.
- Exxon Valdez master completes sentence
Joseph Hazelwood, captain of the ill-fated tanker, has officially paid his debt to Alaska.
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