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| MAY 21, 2002 |
Shipping News
- S'pore to tighten port security measures
SINGAPORE is planning to beef up port security, including screening cargo using x-ray scanners and radiological detectors in the wake of tighter US security requirements post-September 11.
- Shipping lines may be offered direct stakes in PSA
- Number of global cruise passengers dips
Air and Land Transport
- BA posts first annual loss in 15 years
BRITISH Airways yesterday reported its first annual loss since privatisation 15 years ago, albeit smaller than expected, and said it was pinning its hopes on severe cost-cutting measures to return it to profitability.
- Air NZ to increase int'l flights due to demand, tourism
- Vietnam Airlines suspends crew in smuggling incident
- India wants more Heathrow landing slots
- Sats expects India to allow catering venture to continue
- Lob Book
Features
- Aussie boat with wings set to create a splash
IT is neither a ship, an aeroplane, nor a hovercraft, but it has wings, propellors, a hull and skims above the waves towards what its developers believe is a rich future.
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| MAY 20, 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 21, 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 20, 2002 |
- Houston market softer and sluggish
- Slow start to the week on US East Coast
- Proposed US-Russian energy deal would secure US supply
- OPEC cuts slash shipments to Japan
- Chemoil to start physical supply in Istanbul
- IPE introduces new facilities to its options contracts
- Chavez says the price is right, Saudis think supply is right
- Bunker prices for Brazilian ports
- Chile market report from PMC
- Oil prices little changed this morning
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| MAY 20, 2002 |
- California cuts ballast water management fee
California's State Lands Commission is lowering its $400 per voyage ballast water management levy to $200
- Trailer Bridge amends financing, adds directors
Trailer Bridge, Inc. today announced the execution of an amendment to its financing agreement with GE Capital and the addition of four new members to its board
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| MAY 20, 2002 |
- Port of Vancouver, USA taps real estate agency
- Anacortes Port Commissioners Ok March Point lease with T Bailey, Inc.
- Portland International Airport continues string of passenger growth
- Coast Guard responds to fire at Seattle Marina
- Bellingham port board approves Squalicum Harbor boatyard lease
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| MAY 20, 2002 |
- Faulty pipe work clue to blaze on DFDS ferry
DFDS suspects faulty installation of a hydraulic pipe was responsible for the fire on board the Princess of Scandinavia last week, the third blaze in the vessel’s troubled 26 year history.
- BP and BG swap North Sea assets
BG GROUP and BP are exchanging offshore oil and gas assets in the largest North Sea deal this year.
- Raft of tax measures set to lure Belgian owners back to flag
BELGIAN shipowners are expected to start returning to the national flag this summer following the approval of new tonnage and other tax legislation shortly by the national parliament and European Commission.
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| MAY 21, 2002 |
- India puts cargo ships on alert
- Swedish flag to save ferry run
- Norden opens investment talks
- Caribbean urged to work together
- Oman to tackle polluters
- India-Lanka passenger links resume
- Pan Ocean leaves receivership
- Gdynia warns of Szczecin effect
- Greek bank now lending euro1Bn
- HPH sees HK box charges falling
- Kawasaki HI back in the black
- Tanker operator seeks partner
- Lines look to single Pakistan rate
- P&O ‘making progress’
- Venture financier fights take-over
- Lines confirm rate restoration
- Mumbai-Petersburg link on course
- Cause of ferry fire uncertain
- Korea opens naval berth to boxes
- Daewoo creditors to offload stock
- Newbuilding orders rise in Japan
- Thai authorities praised
- Minister rules out PSA split
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| MAY 20, 2002 |
- Air cargo group calls for worldwide coordination of security rules
A leading air cargo executive called for the creation of an international regulatory body to coordinate security regulations among different countries.
- British Airways sees $292M loss
Europe's largest carrier reported its biggest pre-tax loss in 15 years, but managed to see some signs of recovery towards the end of the fiscal year.
- Protest at Port of Charleston
Crane operators snarled box traffic at the nation's fourth-busiest port in a protest over personnel and pay rules.
- Teamsters vote to OK UPS strike
- NCBFAA won’t oppose Customs rule change
- "K" Line forms logistics unit
- Customs plans new self-assessment program
- McLean heirs join Trailer Bridge board
- Baltimore plans new anchorages
- Port of Beaumont names Fisher
- Smuggled gold in Korea cargo flight
- Cargolifter shelves mega-airship plans
- Tonga closes troubled registry
- Port of Vancouver, Wash. signs real estate broker
- Estee Lauder gets WTI trade award
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| MAY 20, 2002 |
- Cruiseships need higher level security
Terrorists are likely to target ships with the most people aboard, expert warns.
- Higher container traffic at LA port
Busier container traffic flow points to expected US economic rebound.
- S&P affirms Trico Marine's ratings
The company's planned $250m bond offer receives single B debt rating.
- Med countries plot new passenger line
Six nations studying feasibility of creating company called Turkish Med with idle Greek or Egyptian ferries.
- Stelmar stock gets Buy rating
The Athens-based tanker owner's time charter strategy will pay off in current trading environment.
- Everard fined for tanker spill
UK short sea owner ordered to pay $25,000 over Shell refinery pollution.
- Ennore port clearing the way for VLCCs
Indian newcomer planning expansion to lure big tankers and capesizes.
- Pan Ocean finally freed by court
Korean owner looks to the future and fleet renewal as it emerges from receivership.
- Greek LPG carrier held for oil spill
Panamanian-flagged Gaz Diamond spilled fuel oil at Port Angeles on Sunday.
- RG-Line flags to Sweden
Transfer of elderly casino ship sparks fears of further losses from Finnish register.
- London brokers in the money
Tanker boom boosts income of Baltic Exchange shipbrokers by 18%.
- Daewoo creditors plan stock sale
Up to 30% of shares in Korean shipbuilder could be up for grabs.
- Sumitomo back on track
Japanese shipbuilder turned around losses in the year to end-March, but second-half profit dipped.
- New ferry service for Indonesian islands
Ferry owner Dharma Lautan Utama is linking Java, Flores and West Timor.
- Scrap buyers haggle on overheated prices
Several ship sales are being renegotiated as the scrap market falls away.
- Canada holds only one ship in April
German tanker held in Vancouver is lone detainee.
- Tonga to lower the flag on ship registrations
Seizure of Karine A prompts tiny Pacific island to close Athens-based operation.
- Novoship inks Mipo quartet
Russian owner puts pen to paper for four MR tankers at Hyundai yard.
- Fire damaged ferry safe in Norway
Princess of Scandinavia reaches Kristiansand after an engine room fire had left the ship adrift.
- PSA "will not be split into two" says Yeo
Transport minister says synergies would be lost if foreign and domestic operations are divided.
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