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| APRIL 24, 2002 |
Shipping News
- UN slams Liberian maritime bureau again
LIBERIA's maritime authorities have once again come under fire in yet another damning United Nations Security Council report detailing the West African country's flagrant violation of international sanctions against it.
- US Customs yet to approach MPA over box screening plan
- Antwerp port's Q1 box traffic up 11%
- PSA may bring forward IPO
- MISC teams up with Saudi Arabian firm
Air and Land Transport
- Japan watchdog likely to approve JAL-JAS merger
JAPAN's anti-monopoly watchdog is widely expected to approve a revised merger plan later this week for Japan Airlines Co and Japan Air System Co the country's largest and third-ranking carriers respectively.
- UPS' net profit up slightly in first quarter
- Bright skies for Chinese airlines in 2002: analysts
- Cathay Pacific to restructure cargo operations
- MAS seeks more flights to India
- US companies are cutting airfare spending: survey
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| APRIL 24, 2002 |
- K Line raises equity stake in Korean agent
- Cosco, NYK to partner in logistics service
- US to raise freight rates on fruits
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| APRIL 23, 2002 |
- P&O to acquire Stena completely
P&O is to buy the outstanding 40 per cent of P&O Stena Line from Stena for 150 million pound as part of a raft of measures to stem losses on some of its short-sea ferry operations.
- MOL Joins Korea-Vietnam Service
Mitsui O.S.K. Lines (MOL) today announced that it will start offering Korea-Vietnam service through a space-charter agreement with Heunga-A Shipping Co., Ltd. (Heung-A Seoul).
- Evergreen appoints South American agents
Evergreen appointed three new agents in South America.
- P&O Nedlloyd charter contract with Blue Star
In a move to diversify its sources for chartered ships, P&O Nedlloyd has placed its first contract with its own, newly formed ship management company - Reederei Blue Star - based in Hamburg.
- Dip in Frankfurt activity
The operator of Frankfurt airport, Europe's second largest, said on Tuesday it expected to report flat earnings this year despite a further dip in traffic.
- Antwerp: less freight, more containers
During the first quarter of 2002 shipment of goods in the port of Antwerp amounted to 31.5 million tonnes, against 32.5 million tonnes during the first quarter of 2001 and 31.1 million during the first quarter of 2000.
- Closure of P&O Stena routes
Separately, P&O Stena Line announced that consultations have commenced with employee representatives about the possible closure of the Dover/Zeebrugge route towards the end of 2002.
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| APRIL 24, 2002 |
- First of 9 Delmas newbuildings, Elisa Delmas to make maiden call at Shanghai
- Safmarine adds reefers to Aussie service
- New LNG ships to be built to Lloyd’s environmental standard
- Klaveness takes over Maersk Bulk’s geared Panamax activities
- Maersk Sealand sweeps Asia awards
- OTAL moves its operations in Antwerp for better efficiency, services
- Bangkok to expedite cargo entry
- Panama Canal Authority steps up security; increases fees
- Penang Port to be upgraded over 5 years
- Shanghai reports rapid growth in box throughput
- Kalmar presents 2002 reachstacker model at Hanover Fair
- Long Beach takes on giant ship-to-shore cranes
- South African ports notch up record volumes despite congestion & other problems
- Maersk Sealand/P&O Nedlloyd rail venture gets EU nod
- St. Petersburg reefer project completed
- "K" Line names new directors
- PSA Corp may be able to stand on its own despite threat from Port of Tanjung Pelepas
- MLOs team up with Americana/Grand Alliance
- Common feeders to feel impact of Evergreen’s shifting to PTP
- Cargo volumes up at Port of New York/New Jersey
- Carriers want PSA to cut Singapore handling fees
- IWT vessel subsidy scheme in force
- European couturiers make good use of Indian leather
- Gujarat Maritime Board appoints DH&S to advise on organisational revamp
- GMB operating profit tops Rs 100 crore
- N.K. Raghupathy new Chairman of Tuticorin Port Trust
- No voice for shipping fraternity in revamped CoPT Board
- OSL handles 75 pc of cargo at Paradip Port
- Kandla Port receives first Panamax vessel
- Europe-Asia rail freight links may compete with shipping lines in 10 years
- Staarship conducts transit 2002 training programme for CHAs - Sudhakar Kasture outlines roadmap for success
- Anomalies in DEPB rates of several items ironed out
- Business growth programme for entrepreneurs
- Yarn exports to quota countries spurt by 31 pc in March
- Canada sees new opportunities in Indian reforms
- RBI to issue 7-yr bonds to cover dues of project exporters to Iraq
- Gems & jewellery exports may exceed $ 8-billion mark this year
- Early election of Fieo President sought
- Staarship-Market Leader
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| APRIL 23, 2002 |
- US East Coast markets slightly lower
- Mixed demand in Houston
- Panama market steady to slightly firmer
- Chile market report from PMC
- Argentina weekly market update
- New board of directors for PDVSA
- Russian oil export curbs likely to end by July
- US oil imports: Time for new friends?
- ExxonMobil Marine Fuels returns to Panama market
- IBIA calls for shipping to unite against EU sulphur proposals
- Rotterdam midday market report
- Company and personnel news and moves
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| APRIL 23, 2002 |
- Otal to Churchill Dock South
- Container scanning system for Amsterdam
- Foreign majority stakes in China
- Matson sells vessels to Sea Star Line
- Cotunav restructures
- AMP expands CCT
- 30 years Sea Consortium
- Lykes: the «Best Ocean Carrier - African Trade Lane»
- CN: separation of TranzRail, new locomotives
- VTG-Lehnkering grows
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| APRIL 24, 2002 |
- P&O ferry shake-up
P&O unveiled a dramatic restructuring of its European ferry business yesterday that sees the UK group paying £150m ($217m) to buy out Stena Line, its shortsea Channel partner, and the closure of three services.
- Stena Line to reinvest funds in P&O freight ferry purchases
AS Stena Line bows out of the southern UK-continental Europe ferry market, with the £150m ($210m) sale of its 40% shareholding in P&O Stena Line to P&O, the Swedish operator said the move was not a reflection of the partnership with its former rival.
- Industry gets to grips with Channel service upheaval
P&O’s decision, although expected in some quarters, still managed to catch ferry rivals, Brussels, hauliers, port operators and shippers on the hop.
- Finnlines puts in $60m bid for Nordö-Link
FINNLINES has made a bid to buy Rederi Nordö-Link, the Swedish ro-ro liner shipping company for SKr615m ($60m), less than six months after a similar proposal by Danish-German Scandlines ran into antitrust trouble and collapsed, writes Rajesh Joshi.
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| APRIL 23, 2002 |
- Sumitomo plans yard subsidiary
- Sovcomflot revenue dips
- Western Bulk mulls logistics foray
- House panel slams SCI divestment
- Lines disappointed by cruise guilt
- Plate loading goes on amid turmoil
- Wijsmuller wants company back
- Yard workers 'too valuable' to lose
- Star brings in HK-Shanghai shuttle
- China's oil imports rise
- Hashish haul found in Algeciras
- Grimaldi Naples goes short sea
- Arson blamed for Carmela fire
- SCI signs oil transport agreements
- NZ business hit by box screening
- Silja among suitors for Trasmed
- P&O, Stena in ferry consolidation
- Ships collide in Aegean
- Attica suspends Baltic crossing
- Drifting tanker causes concern
- Hutchison in Panama dispute
- MOL to beat double-hull deadline
- Malaysia plays down navy escorts
- French ship banned from US waters
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| APRIL 23, 2002 |
- Westbound reefer rate hikes
The Westbound Transpacific Stabilization Agreement has announced a series of rate increases on refrigerated agricultural exports to Asia.
- Strong 1Q for CN
Revenue gains in general merchandise sectors help pump results for the railroad.
- P&O to buy rest of Stena ferry
The British transport and shipping group plans to buy the 40% share it does not already own of P&O Stena.
- Sea Star will complete Navieras buyout
- CF: new quarter, same result
- CSX sees earnings gain
- China port levies new charges
- MOL adds Korea, Vietnam service
- Flat results for Port of Houston
- Profits tumble for German airport operator
- Lufthansa Cargo adding Pakistan flights
- BDP to host ex-im security seminar
- Long Beach to host harbor cruises
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| APRIL 24, 2002 |
- HAL to build fifth Vista Class vessel
Construction of the 1,848 passenger cruise ship will cost about $400m.
- Stelmar issues more shares
Underwriters exercise over-allotment option for 645,000 shares at $14 per share.
- Steel import tax trims Houston port's revenues
Houston port authority posted lowest first quarter operating revenues in three years.
- Leone ousted at Navigator Gas
Chartering moves in house as troubled gas carrier owner restructures.
- Vessel loading slows down in Argentina
The government shuts down banks and stock exchanges indefinitely.
- Enterprises boxships set to trade
Timecharter deals near as Victor Restis sends arrested ships for drydocking.
- Kopernicki lined up for OCIMF post
Shell Shipping boss tipped to head up oil industry shipping body.
- Simon meets potential buyers
UK shipping and ports group has had "a number of expressions of interest" in its businesses.
- Oglebay Norton cuts net loss
Great Lakes fleet operator's restructuring effort is hindered by the economic downturn.
- Chinese routes boost Shun Tak
Hong Kong ferry group improved profits in 2001 as more people travelled to Shenzhen and Guangzhou.
- Thoresen Thai in UAE port venture
Thai owner teams up with Sharjah Port Authority to manage three ports.
- P&O to end Stena joint venture
Swedish owner to get $217m pay-off for break-up of UK ferry partnership.
- SCI searches for new tanker niche
Indian owner tries to reinvent crude oil trading patterns and partners after deregulation.
- RINA grows fleet in 2001
Italian classification society bagged 2.95m gt of new tonnage last year - equal to 19% of its fleet.
- Search on for Chao's 'missing' millions
The late Frank Chao declared bankrupt as lawyers fight on to retrieve newbuilding cash.
- K Line rethinks prospects
Japanese liner giant ups earnings estimates on improved boxship and oil demand.
- Earnings fall at Shih Wei
Taiwanese bulker operator talked a good fight in 2001, but couldn't boost profit.
- Finnlines moves for Nordo Link
Finnish owner buys Swedish ferry line five months after Scandlines pulled out of deal.
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