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| DECEMBER 3, 2003 |
Shipping News
- Take active part in IMO, Intertanko urges Asia
THE controversial European tanker phase-out being debated at the International Maritime Organisation this week is a clear example why there must be greater Asian participation and a concerted voice from the region, according to the International Association of Independent Tanker Owners.
- NY seeks court limit on ferry crash liability
NEW York City, facing more than US$2 billion in personal injury claims from the Staten Island ferry crash that killed 10 passengers, will seek relief under a federal maritime law to limit its legal liability to the vessel's value after the accident, the city law department said.
- Freight rates on US-Asia trade to increase
EVERGREEN Marine Corp, P&O Nedlloyd and 11 other shipping lines plan to raise freight rates for carrying non-refrigerated container cargo to Asia from the US, because of rising costs and increased demand from Asian factories.
- Daewoo Shipbuilding's profit may drop next year
DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, said profit may decline next year as the won strengthens, eroding its earnings from overseas orders.
- Frontline plans US$580m bond sale
FRONTLINE, the world's biggest operator of tankers that carry 1 million barrels of crude oil or more, said it aims to raise US$580 million by selling bonds to US investors as part of a plan to split the company.
Air and Land Transport
- Restoring Boeing's credibility to be new CEO's main focus
THE man who will lead Boeing Co is known as a tough-minded cost-cutter who is unpopular with employees but lauded by shareholders.
- Compromises aid US-EU talks on passenger data
- Australia to boost airport security
- Cathay resumes flights to mainland China after 13 yrs
- Concorde nose goes for record price
- BA shares slip on fears Heathrow won't get runway
Strait Talk
- IMO has to deal with conflicting winds of change
LAST week International Maritime Organisation secretary-general elect Efthimios Mitropoulos spoke of the winds of change affecting the UN agency.
Port Shots
- P&O sells stake in joint venture
PENINSULAR & Oriental Steam Navigation Co , the UK's largest shipping company, sold its remaining 50 per cent stake in its bulk shipping joint venture to partner Eurotower Holdings for US$64 million.
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- Freight chief sees China's logistics market growing 20pc annually
- Shenhu port granted permission to welcome foreign lines
- U-Freight subsidiary gains quality target
- MICT handles one million TEU for second consecutive year
- Shelleson Group sets up in Qingdao
- IRA to raise rates four times in 2004
- PSA adopts new corporate structure
- WTSA set to hike rates in February
- Dragonair appoints Omni to add depth in UK
- Volga-Dnepr completes modernisation of Antonov freighter
- Emirates introduces fourth Shanghai-Bombay cargo flight
- DHL returns to Iraq, Afghanistan
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| DECEMBER 3, 2003 |
- SCI to pick up stake in ONGC’s marine venture
- GE Shipping to induct Aframax crude carrier
- Norasia announces direct service to Europe ex-Mundra - Inaugural vessel to call at MICT on Dec. 5
- Chemicals, engineering goods boost export growth during April-July
- Making EDI work in India-II
- JNPCT sets new record by handling 91,107 TEUs in Nov. 2003
- JNP can now handle longer vessels at LB & SB
- GJEPC moots special gems cluster in Howrah
- Exporters can now get ECGC policies from Bank of Rajasthan
- CBDT looking into non-deduction of tax on inchartered foreign flag vessels
- Kerosene prices climb after ban order
- Finance Ministry sees GDP growth of over 7 pc in 2003-04
- State approves setting up of 33 IT parks in private sector
- Fieo holds workshop on foreign exchange risk management system
- IMC seminar on using technology today
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| DECEMBER 2, 2003 |
- Demand picking up in competitive Suez
- Bearish Cargo has little impact on Fujairah numbers
- Bearish movements seem to keep Hong Kong buyers happy
- IMO: Time for compromise on single-hull proposals
When the MEPC last met in July, it had difficulty agreeing on how to approach the EU route of banning the transport of heavy oils on tankers in the smaller category, i.e. from 600 to 5,000 dwt with effect from 2008. This is the size category that would affect barge operators not only in Europe, but possibly world-wide.
- Oil stems fall as OPEC hints at no change or cut
Oil prices were steady to a bit firmer today as traders remain worried that OPEC may decide on another preemptive cut now to prevent an oil glut from forming early next year.
- Rotterdam prices fall further this morning
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| DECEMBER 2, 2003 |
- Burton M. Joyce elected to Norfolk Southern board
- P&O Nedlloyd in the black again
- Polar Air Cargo flies B747 freighter out of Zurich
- Deutsche Bahn wants to sell Brenntag and Interfer
- Tibbett & Britten issues profit warning
- Freight forwarders use Cargo Portal Services
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| DECEMBER 2, 2003 |
- "Rosella" strike threath fended off
- Wärtsilä establishes propeller manufacturing in China
- Maersk Sealand may have ordered
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| DECEMBER 2, 2003 |
- Rigdon Marine names VP Admin
Mike Babin joins Rigdon team
- Wartsila to manufacture propellers in China
Joint venture with CSSC unit will serve world market
- MEPC meets on phase-outs, etc.
... will world follow EU post-Prestige rules?
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| DECEMBER 3, 2003 |
- P&O sells last bulk shipping stake to Ofer
P&O has completed its long-awaited exit from bulk shipping by selling its remaining 50% interest in Associated Bulk Carriers to partner Eurotower Holdings, an Ofer family company.
- Safety committee calls for Mangouras testimony
THE European Parliament’s temporary committee on improving safety at sea will call on the Spanish judge handling the Prestige case to allow Apostolos Mangouras, the tanker’s master, to appear before MEPs in Brussels.
- Carnival invites Lynch to join Miracle party
FORMER Army private Jessica Lynch, has accepted the role of godmother to Carnival Cruise Lines’ newest cruiseship, the Carnival Miracle, due to be named at an official ceremony in Jacksonville on February 27, 2004.
- China drives panamax earnings to $32,000 a day
CHINA’S seemingly insatiable demand for raw materials has pushed freight rates to new record highs, intermediaries reported yesterday.
- Nominate the best for a Lloyd’s List Award
NOMINATIONS are now open to all our readers for your choice to honour outstanding achievement in shipping over the past year in the prestigious Lloyd’s List Awards 2004.
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| DECEMBER 2, 2003 |
- Bosphorus fog lifting
THE dense fog that led to a tanker logjam at Turkey's Bosphorus straits is lifting, bringing hope that the 42 delayed tankers can soon proceed
- Smit sells cable-laying venture
SMIT Internationale, the Dutch towage, terminals, salvage and heavy lift group, is finalising a deal to dispose of its interest in a Latin American cable-laying venture
- Have your say!
HAVE you had any experience of bad practice by port state control inspectors? Have your say!
- LA port security facility proposed
COMMISSIONERS for the Port of Los Angeles meet today to discuss a confidential proposal to build a facility where Customs could inspect high-risk shipments
- China and Germany cosy-up
DURING German chancellor Gerhard Schröder’s visit to Beijing yesterday, China agreed to make shipping easier for German operators
- PSA-Cosco terminal launched
THE PSA-Cosco terminal joint venture was launched in Singapore today under the name Cosco-PSA Terminal Ltd or CPT
- Largest carriers bid for Fos 2XL
- Philippines to focus on education
- Questions raised over logging off
- P&O ends six-year ABC saga
- Israeli importers pay for security
- Shipbuilders oppose steel price hike
- Pelindo sells assets to fund growth
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| DECEMBER 2, 2003 |
- Carriers, shippers in EU showdown
Regulators on Thursday open hearings that ultimately could lead to the break-up of liner shipping conferences.
- Box security pact for EU, U.S.: Official
Agreement aims to expand customs cooperation; Brussels also working on advance manifest rule.
- P&O exits bulk shipping
The British transport group completes the sale of its remaining 50 percent stake in Associated Bulk Carriers.
- U.S. waterways groups merge
- FMC proposes changes for carrier-terminal pacts
- Shanghai port moving up
- NYK switching Pakistan ports
- Norfolk Southern restructures senior staff
- Stevens to operate under MTC name
- Israel court enjoins mega-strike
- Trade document company nets investment
- Haigis to head Optum marketing
- Customs delays special AMS bill for NVOs
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| DECEMBER 2, 2003 |
- ICF repositions itself for EU enlargement
Intercontainer/Interfrigo (ICF) has introduced a five-point plan to recover profitability by 2005, following a 4% drop in volumes to 367,000TEU in the first half of 2003.
- ‘Old mindsets’ are discarded as PSA launches terminal joint venture
- Russian ports to handle a mere 1-1.2m TEU in 2003
- Cochin surprises shippers by lifting port discounts
- USCG example of co-operation and tact should be followed, says WSC
- HK manufacturers ready to get ‘comfortable’ in China, boosting supply chain
- YICT’s second berth operational
- WTSA propose rate rise on Asia-bound cargo
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| DECEMBER 2, 2003 |
- OSG, OMI join the party on Wall Street
Two more tanker companies crack 52-week highs.
- Single-skin showdown
EU asks Latvians to think European, ban US trader's cargo.
- Stelmar toasts two-year high
Tanker stock breaks $21 barrier for first time since 2001.
- MJLF joins ship valuation panel
Broker grouping simplifies fees to attract fleet deals and grow turnover.
- Metrostar steams in for Niarchos tankers
Greek owners put up fierce fight for modern tanker fleet.
- Smit sells cable-laying interests
Latin American business sales to boost net profit for Dutch salvors this year.
- Metrostar builds up mixed fleet
Theodore Angelopoulos has been rebuilding but will he resell?
- Daewoo warns on 2004
Korean yard says earnings may be hit next year but targets will be met or topped in 2003.
- Transpacific rates to rise
Westbound container lines boosting prices from US to Asia as demand grows.
- Farstad ties up three ships
Norwegian offshore vessel owner concludes NOK 162m of business with charterers.
- P&O sheds last bulkers
Ofer’s Zodiac Maritime mops up the last of the ABC capesize fleet.
- Wartsila makes Chinese move
Finnish ship engine maker to launch propeller operation with yard group CSSC.
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| DECEMBER 2, 2003 |
- Koch: Ships not security-compliant by July 1 can expect port delays
- Zim continues its profit recovery
- CP Ships carriers revamp South American services
- P&O quits bulk ship sector, sells out to partner
- Europe/Canada conference issues rule on import wood packaging
- Integrators prep for holiday surge, UPS announces new rates
- Dragonair names Omni sales agent in South of England
- World Shipping Council criticizes World Customs Organization security rules
- "Special bill" rollout in U.S. Customs' AMS delayed to Jan. 10
- U.S. lobby seeks "middle ground" on Canadian lumber import dispute
- Maersk, MSC, CMA CGM bid for Fos terminal
- COSCO, PSA inaugurate dedicated terminal venture in Singapore
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