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| MAY 7, 2003 |
Shipping News
- MISC seeks to charter out some container ships
MALAYSIA International Shipping Corporation , which last week bought American Eagle Tankers for over US$1 billion including debt, is now looking at chartering out some of its container ships as it grapples with its flagging liner business.
- HK clears Malaysian tanker's crew of Sars
TEN crew members of a Malaysian-registered tanker taken into quarantine in Hong Kong have been found free of Sars and returned to their vessel yesterday.
- Asia-Europe lines to cut fuel surcharges
NIPPON Yusen KK, P&O Nedlloyd Container Line Ltd and other shipping lines are reducing fuel surcharges on routes between Asia and Europe by 19 per cent next month after oil prices fell.
- Teekay names CFO
TEEKAY Shipping Corp has named Peter Evensen as its chief financial officer, replacing Peter Antturi, who was named president of Navion ASA, a shuttle tanker company recently acquired by Teekay.
Air and Land Transport
- EADS loss quadruples in Q1
THE parent company of Airbus, European Aeronautic, Defence and Space Co , yesterday reported a near quadrupling of losses in the first quarter, blaming the economic slowdown and worries about the impact of Sars .
- Cambodia opens US$32m Phnom Penh airport terminal
- HK air cargo prices rise as capacity gets squeezed
- Vietnam Air slashes fares by up to 50%
- Hawaiian Airlines' creditors back Boeing demand for trustee
- UAL has not paid millions for plane leases: bank
Strait Talk
- Two views on pilotage issue
THERE was a time when, on approaching port, the ship's master would stride onto the bridge, perhaps take a cursory look at the chart and then announce: 'I'm taking over.' The officer of the watch would duly write 'CVTMO' in the deck log, breathe a sigh of relief and take up the role of general run-around.
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| MAY 7, 2003 |
- US authorities begin second phase of 24-hour rule enforcement
- CMA CGM to introduce new transpacific service in June
- Hamburg Sud turnover falls in 2002
- IPBCC lines to raise eastbound rates in June
- Freight Australia begins daily Melbourne - Sydney services
- FEFC to restore Mediterranean rates starting June
- US, Canada to study St Lawrence Seaway transport together
- Virgin returns to profitability after sorting costs, network
- Continental monthly cargo revenue up 2.8 per cent in April
- Emirates to fly to Perth daily
- Panalpina opens new office in Xian, voids WRS
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| MAY 7, 2003 |
- Shipments to/from China sail through SARS threat
- Big Apple entry-a boost for CSL India
- Ship repair co bags ISO-9001 certification
- MPs’ panel wants dumping duty on Bangla jute bags
- Marine products exports to US record 9 pc growth
- Software exports from AP touch Rs 3,668 cr.
- KoPT to seek EoIs for transloading, floating terminal at Sandheads
- New single-day record in ore handling set at Vizag Port
- Stage set for FFFAI convention in Hyderabad from May 15 to 17 - Lively, informative speaker-audience interaction on cards
- Registered exporters need not furnish bonds - Eligibility for duty exemption
- CMIE predicts 4.5 pc industrial growth in 2003-04
- New benefits only for SEZ projects set up after April 1
- Govt to focus on core sector: PM - Integrated air cargo complex commissioned
- Textiles shipment validity period extended by fortnight
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| MAY 6, 2003 |
- Post-Prestige proposals one step closer after MEP vote
- Daily bunker market report from Praxis Energy Agents (Tuesday)
- New Barge Service in Chile's Southern Region
- The Baltic in brief
- St Petersburg steady, good avails reported
- Demand down in the Great Belt
- Uruguay market update
- Fujairah cargo values fail to move on crude
- Hong Kong prices tick up in quiet trade
- Rotterdam slightly firmer this morning
- Daily bunker market report from Praxis Energy Agents (Monday)
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| MAY 6, 2003 |
- Construction of the new Brenner base tunnel to begin in 2006
- Strategic alliance of Air France Cargo and Cargojet Canada Ltd.
- Fincantieri Palermo launches «Grande San Paolo» for Grimaldi Naples
- CSX Corporation appoints new executive vice-president and CFO
- Geodis wins contract with ExxonMobil
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| MAY 6, 2003 |
- GL throwed out 245 vessels
- Italian single-hull ban thwarts market
- Record level for piracy
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| MAY 6, 2003 |
- Somerville elected ABS CEO
Robert D. Somerville, currently President and Chief Operating Officer of ABS has been elected to the position of Chief Executive Officer by the ABS Board of Directors.
- Manitowoc to build USCG test boat
The U.S. Coast Guard has selected Manitowoc Marine Group to build one of three Response Boat -- Medium (RB-M) test boats.
- Kirby places major tank barge order
Kirby Corporation has signed a contract with Trinity Industries, Inc. for the construction of 16 double-hull, 30,000 barrel capacity, inland black oil tank barges.
- New CFO for Teekay
Peter Evensen named
- New risk assessment tools from ABS
More flexibility to meet needs of expanding offshore industry
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| MAY 7, 2003 |
- Transport minister quits over night flights
BELGIAN Transport Minister Isabelle Durant has quit over the issue of night flights at Brussels airport, two weeks before a general election, writes Roger Hailey.
- Dock unions keep up the pressure on port changes
DOCKWORKER trade unions will today gauge the resolve of European members of parliament to continue their opposition to the controversial port services directive.
- Grimaldi demands compensation for Fincantieri delay
GRIMALDI Naples has demanded compensation from Italian shipbuilder Fincantieri for alleged deficiencies found in a number of recently-delivered vessels, writes Justin Stares in Rome.
- NOL cuts Lim’s salary after its ‘worst ever’ year
NEPTUNE Orient Lines, cut the pay of chief financial officer Lim How Teck in 2002, the company’s worst ever year.
- Any flag can hide terrorists or criminals, says OECD
SHIPOWNERS can operate in complete secrecy under any flag in the world, even when engaged in terrorism or crime, the Organisation for Economic Co-operation and Development has alleged.
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| MAY 6, 2003 |
- South African strike held back
- Bergesen anticipates LNG income
- Milford Haven to be major LNG centre
- Grand SCI sale begins again
- LPG barge banned in safety row
- Prestige oil still hitting beaches
- Pakistan frames registration rules
- Safest owners 'still at risk'
- SARS alert after crewman dies
- Fatima freed from detention
- Dividend crucial in pricing Frontline
- Aussie tackles livestock concerns
- Israel moves against SARS
- Exam scandal accused named
- MISC to charter out box ships
- US tightens manifest enforcement
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| MAY 6, 2003 |
- Asia exports ignite boxship boom
Orders for new vessels are about to race past the 500,000-TEU mark as shipping lines and charter operators scramble for new tonnage to cope with a surge in global liner traffic.
- Pacer doubles profit, plans refinancing
The stacktrain operator said first-quarter profit doubled to $7.4 million while operating income rose 19.1 percent to $18.7 million.
- SARS could slow China GDP growth
- Airlines demand HK airport cost cuts
- Canmar enters trans-Pacific
- ANA joins CNS air waybill service
- EU orders posts to add VAT
- Trinity gets $29M barge order from Kirby
- U-Freight adds Dubai intermodal hub
- USF Corp. name change official
- 1Q profit for Boyd Bros.
- U.S. plans terror attack simulation
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| MAY 6, 2003 |
- MSL re-organises Pacific services in search of new markets
In its search for new markets Maersk Sealand (MSL) has said that it will reorganise two existing Pacific strings and add a third later this month.
- No bonuses for senior executives at troubled NOL
Senior executives at troubled Neptune Orient Lines (NOL) were not paid their bonuses last year.
- US toughens sanctions for breaches of 24-hour rule
- Falling southbound rates squeeze Hamburg Sud turnover
- Waterfront truce ends as Santos braces for strikes
- Egis acquisition referred for EC approval
- California terminals dash to modernise ahead of fines
- Container Security Initiative begins this month in HK
- Special regime imminent at Northport free commercial zone
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| MAY 6, 2003 |
- RCCL launches bonds
Cruise line's $250m issue prices at 8%.
- Industry insiders turn analysts
Finance boutique Tridens and publisher Marine Money launch research firm.
- Regal Empress may come up short
Passengers ok, but creditors could lose out in auction of cruise ship.
- Belships revenue doubles
But reduced sale contribution masks underlying improvement.
- DVB profits up
Specialist transport bank logs a 15% jump in profits.
- Moller details merger of listed arms
Danish owner to up share capital of companies prior to reorganisation.
- Shipowner to keep Oslo listing
Wilhelm Wilhelmsen defies trend and keeps faith in stock market benefit.
- Initial deadline day named for SCI
New round of bidding begins, with "expressions of interest" needing to be in by 6 June.
- Wilhelmsen interest in boxes drifts
Ship conversions point to Norwegian owner’s strategic focus on rolling cargo.
- Panama Canal tightens up on notification
From 1 July, waterway authorities want four days notice before vessels arrive.
- Farstad Shipping slips back
North Sea demand falls dent first quarter figures for Norwegian offshore owner.
- Demolition market explodes into action
Seven large tankers sold in seven days as freight rates sink back.
- TACA bumps up Russian charges
Containership group to hike service fees at St Petersburg and Kaliningrad from June.
- Germanischer Lloyd profit slashed
But classification society is upbeat on performance for this year as newbuildings roll in.
- Boon out of the running for top NOL job
The man many saw as the natural successor to Flemming Jacobs is to quit at the end of the month.
- MOL opens up in Panama
Two new offices to boost liner business in Central America.
- Water shipping venture sinks
NYK pulls the plug on innovative project as cash leak continues.
- Japan ship sales top $11bn in FY2001
Yards achieve fourth highest sales level in last decade, but shiprepair sales sink to 20 year low.
- Solvang continues to suffer
Norwegian owner’s gas carriers improve earnings in first quarter, but financial costs hamper recovery.
- Weak start for Wilh Wilhelmsen
Costly bunkers and ship conversions take a $6m bite out of Norwegian owner.
- Sohmen begins to reel in Bergesen stock
World-Wide boss talks up stock acquistion as he moves to lure in wavering shareholders.
- Evensen named as new Teekay CFO
JPMorgan Chase shipping head to join aframax giant as Antturi moves to Navion.
- Forest Lines takes long view on fleet upgrade
International Shipholding’s LASH operation wants to replace ships by 2008.
- Auckland sees steady cruise trade
America's Cup fails to lift Kiwi port's cruise results as global concerns hinder traffic growth.
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| MAY 6, 2003 |
- A.P. Moller goes ahead with merger plan
- Wilh.Wilhelmsen reports weaker first quarter results
- Hanjin phases in 5,750 teu vessel into Asia/Europe service
- CMA CGM confirms plans for new Pacific service with China Shipping
- SAS selects Unisys air cargo software
- USAID awards Iraqi airport management contract
- Con-Way adds e-business enhancements
- Ryder System picks ACS for communications solution
- CP Railway completes software install at automotive terminals
- Pacer International doubles first-quarter net income
- U.S., Canada expand high-tech border program
- Besttransport names Shary president
- Lawmakers form cargo group
- Panama canal sets 96-hour pre-arrival notice
- U.S. Customs operates CSI in Hong Kong
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