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| MAY 9, 2003 |
Shipping News
- Misc moves nearer to being top energy transporter
EVEN a few short years ago, many would have scoffed at the notion that a home-grown Malaysian shipping company could one day become the world's leading energy-based transportation company.
- PSA's S'pore throughput down 5.3% in April
THE combination of Sars and robust March volumes saw PSA Corporation register a 5.3 per cent drop in its Singapore throughput last month compared to March, while still registering year-on-year increases at both its local and overseas operations.
- P&O ports handle 30% more containers in Q1
PENINSULAR & Oriental Steam Navigation Co , the UK's No 1 shipping company, said the number of containers handled at its ports in the first quarter rose 30 per cent, boosted by growth in Asia.
Air and Land Transport
- easyJet sinks to half-year loss as price war escalates
BRITISH no-frills airline easyJet said on Wednesday it had slipped into the red over the past six months, hit by bitter price wars with its low-cost rivals as well as seasonal factors.
- US carriers' woes hit airport operators
- Garuda plans to lay off workers
- KLM posts record full-year net loss
- S Korean truckers step up labour action
- LOG Book
Port Shots
- PORT Shots
BRAEMAR Seascope Group plc, which brokers ships to transport oil, chemicals and grain, had a fiscal-year profit of 1.8 million , after the acquisition of Braemar Tankers Ltd increased sales.
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| MAY 9, 2003 |
- WW first quarter net group income falls US$3m
- Panalpina obtains C-TPAT certification from US Customs
- Pacer first quarter net income doubles to US$7.4 million
- Singapore, US ink free-trade agreement
- US Customs starts CSI in HK on May 12
- Geest keeps up investments with lightweight chassis
- Hainan Airlines interested in buying second Hainan airport
- KLM cargo traffic rises in April
- Sars causes Qantas to downgrade profit forecast
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| MAY 9, 2003 |
- MISC seeks to charter out some containerships - Bid to rationalise some services, cut operating costs
- Safmarine establishes representation in Bulgaria
- CMA-CGM, MSC in transpacific pact
- David Halliday is Executive Chairman of CMA-CGM (UK) Ltd - Sutherland heads UK unit
- Drewry-APL white paper highlights importance of inland China
- PSA Corp announces strongest-ever first quarter results since 2000 - Volumes bounce back by over 5 pc
- Hamburg Süd upgrades Med services
- Hapag-Lloyd orders trio of boxships
- Collyer new agent in Singapore for CP ships
- MOL launches enhanced global liner website
- P&O Ports raises Miami stake
- Asia-Europe lines to cut fuel surcharges
- EU still imposes curbs on Indian textiles under MFA
- US continues to levy high imposts on Indian steel despite WTO panels’ ruling
- Carpet exporters eye Chinese market
- Mills to import 4 lakh bales of cotton
- Sinha vows to hasten port reforms
- CFS/trailer operators may levy additional charge only on TEU movement to/from NSICT - If solution to NSICT’s new rule remains elusive...
- Rlys geared to carry wheat to ports
- CII draws up 8-pt agenda for state development
- High tech city to be reoriented with Tuticorin SEZ
- Govt gives top priority for development of trade in N-E region
- IMC to focus on Growth, Governance, Globalisation
- Assocham study finds exports to Oceania, Asia recording highest growth
- SISI training programme on ‘Export Management’ from May 26
- ITPO defers Kuala Lumpur expo to Dec.
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| MAY 8, 2003 |
- USWC: Prices more uniform, good avails reported
- Seattle congested, Vancouver quiet - markets stable
- Oil continues gains on US stock woes, US warship explosion
- Daily bunker market report from Praxis Energy Agents (Thursday)
- End of Iraqi oil expected to reduce US oil imports
- ARA region quiet, markets steady to firm
- Japanese numbers yet to revert to pre-holiday levels
- Prices drop in Uruguay
- Singapore bunker prices slip as product stocks improve
- Indications rise with demand in Italy
- O.W. Bunker opens in Klaipeda, Lithuania
- Rotterdam steady to firm this morning
- MARPOL compliance needs action now says Lintec
- Daily bunker market report from Praxis Energy Agents (Wednesday)0
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| MAY 8, 2003 |
- Frontline weaker than expected
- "Kursk" fuel shipped from Murmansk
- SOL leaves the exchange on 10 June
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| MAY 8, 2003 |
- Hornbeck Offshore reports increased revenue
Hornbeck Offshore Services, Inc. reported that revenues for the quarter ended March 31, 2003 increased 20.3 percent to $27.3 million compared to $22.7 million for the same quarter in 2002
- EC makes sweeping maritime security proposals
The European Commission is proposing regulations on maritime and port security that, it says, go beyond IMO requirements.
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| MAY 8, 2003 |
- Seattle Maritime Festival kicks in to full gear today
- Port of Oakland goes with ADT for maritime security system
- Weekly rail freight numbers run on par with last year's counts
- Greenbrier nets orders for 2,800 additional railcars
- Mitsui placing orders for six double hull VLCCs
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| MAY 9, 2003 |
- Cantieri italiani a secco di ordini
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| MAY 9, 2003 |
- Brussels in blitz on ship and port security
THE European Commission is to draw up sweeping new shipping and port security guidelines based on, but going well beyond, proposals in the International Maritime Organisation pipeline.
- MOL orders six VLCCs in single hull phase-out drive
AS PART of its continuing tanker renewal programme Mitsui OSK Lines president Kunio Suzuki announced yesterday a half-dozen double-hulled very large crude carrier orders to be built in Japan.
- Oil pollution fund agrees to start Prestige claim payments
THE International Oil Pollution Compensation Fund will make initial payments covering 15% of approved claims filed by those affected by the Prestige spill.
- Festival files anti-Carnival complaint
FESTIVAL Cruises is not giving up its opposition to the merger clinched last month between Carnival Corp and P&O Princess Cruises.
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| MAY 8, 2003 |
- Festival throws down legal gauntlet
- Carnival under fire over security
- Truckers paralyse Peru's ports
- Terminals in security charges pact
- NCL admits sewage discharge
- Schelde restrictions for salvage
- P&O Ferries hit by Iraq factor
- New Belgian register in sight
- SA targeted for port surcharges
- Spain tries to damage refuge plans
- P&O Ned cuts 1Q operating loss
- Frontline enjoys second best quarter
- Kolkata goes for transhipment
- Crackdown on Manila smuggling
- MOL double-hull move gathers pace
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| MAY 8, 2003 |
- Non-union planning jobs will go
Labor strengthens its grip on West Coast ports after National Labor Relations Board declines to protect non-union planning positions for terminal operator Stevedoring Services of America.
- Terminal operators petition Feds for port security discussion group
Operators, carriers want to talk about pending Coast Guard port-security regulations.
- P&O Nedlloyd narrows loss, sees better outlook
- KLM has biggest-ever loss
- Evergreen charters 8,000-TEU ships
- Jamian tapped as deputy Marad administrator
- Expeditors net improves
- MOL orders new VLCCs
- Danzas in joint venture with India’s Lemuir
- Norfolk Southern shareholders reject board election change
- Greenbrier gets orders for 2,800 railcars
- International Institute to honor Toggweiler
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| MAY 8, 2003 |
- Bleak medium term outlook for PONL as losses mount
Investment banker Dan Clague of Societe Generale has called into question P&O Nedlloyd’s (PONL) ability to make adequate returns over the medium term following the line’s continued losses.
- Rio Grande opts for emergency dredge
Dredging of the access canal to Brazil’s second largest container port, Rio Grande, is scheduled to start this weekend, according to port technical director, Airton Rocha.
- Armed guards protect Exel cargo in Asia
- Recession behind Puerto Cabello volume collapse
- Under-funding to hit competitiveness of Germany’s waterways
- Kolkata aims for transhipment role
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| MAY 8, 2003 |
- Not so festive
Festival Cruises confirms formal challenge to Carnival takeover.
- Fred Olsen Energy trims losses
Company improves offshore drilling activities, though shipyard division still in the red.
- Notable pricing
RCCL pays a little over the odds for bonds, but says issue oversubscribed.
- IOPC Fund agrees Prestige payout
Claimants to get initial 15% in move to overcome P&I club's legal problem.
- Bergesen profits on scrapping
Norwegian owner rings up $14.5m gain as oldest tankers sail for demolition in China.
- Frontline eyes changed tanker market
John Fredriksen led company optimistic over transformed fundamentals.
- Regal Empress auction announced
Failed cruiseship to go under the hammer next week but will creditors get their cash?
- Frontline back on course
Tanker market upturn boosts profit to near record levels.
- War risk surcharges cut back
Ending of hostilities in Iraq prompts Persian Gulf ports revision by two containership conferences.
- Latvian Shipping in the money
Tanker owner rides market wave, but warns of effect of single-hull phase-out.
- Higher costs dog WG&A
Philippine ferry owner takes depreciation hit in first quarter.
- P&O Nedlloyd slims losses
Boxship player in buoyant mood on future outlook.
- MOL outlines VLCC plans
Japanese giant will take on 11 large tanker newbuildings in next three years.
- MES turns around its losses
Higher shipbuilding sales help Japanese yard company to return to profit.
- Drydockings hit Algoma
First quarter profit shrinks at Canadian tanker and bulker owner as revenues sink.
- Royal Nedlloyd bullish on 2003 market
Dutch boxship player expects improvements to show in second quarter.
- Ports and freight ferries bolster P&O
Strong growth in volumes in first quarter for UK group, but passenger slump blamed on Iraq war.
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| MAY 8, 2003 |
- Military Sealift Command praises U.S. merchant marine for war role
- Jamian appointed Marad deputy administrator
- Frontline’s first-quarter profit skyrockets to $178 million
- EC proposes maritime security measures going beyond IMO
- P&O Nedlloyd narrows first-quarter loss
- Evergreen confirms plan to charter eight 8,000-teu ships
- FAA proposes rule on dangerous goods training procedures
- Sandler, Travis & Rosenberg adds Counsel, promotes two
- USDA considers orchid imports from Taiwan
- USDA seeks emerald ash borer’s destruction
- U.S. Chamber urges action on U.S./Chile free trade agreement
- Expeditors’ first-quarter net earnings up 13%
- Port of Savannah adds refrigerated warehouse
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