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| NOVEMBER 12, 2003 |
Shipping News
- Korean port projects to go on show in S'pore, HK
SOUTH Korea's government will hold roadshows in Singapore and Hong Kong to attract foreign investors to its ambitious Busan and Gwangyang container port expansions.
- RCL's 9-month profit up 54%
BUOYANT trade lifted Thai-listed and Singapore-managed feeder Regional Container Lines' net profit for the first nine months of 2003 by 54 per cent before unrealised currency losses.
- MTL to take 70% stake in Suzhou project
MODERN Terminals Ltd, the port operating arm of Wharf , said yesterday it will take a 70 per cent stake in a one billion yuan container terminal project in the Yangtze River Delta city of Suzhou, its first investment in the thriving Chinese region.
- Grand Alliance cuts transpacific capacity
THE Grand Alliance has cut transpacific capacity, marking the start of the Christmas lead-up slow season, suspending its fortnightly extra peak season service between Asia and the US East Coast.
- Adsteam's solid outlook
ADSTEAM Marine Ltd, an Australian tug-boat company, said the outlook for its ship assist operations remains 'very sound'.
Air and Land Transport
- Asian airlines see 10% rise in cargo volumes this year
KOREAN Air, Taiwan's China Airlines and other Asian carriers may ship 10 per cent more cargo this year because of demand for China-made electronic goods and other products.
- Qantas on track to exceed financial targets
- SAS chalks up 12% fall in Q3 profit
- Virgin Blue eyes business travellers
- Former F1 driver Niki Lauda returns to the airline race
- Log Book
Strait Talk
- Western ship recycling farce in which Asian workers lose out
THE pantomime has come early to Britain this year, in the form of two old US naval auxiliary vessels that are in the final stages of a tow from America to Hartlepool on England's North Sea coast.
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| NOVEMBER 12, 2003 |
- Grand Alliance suspends bi-weekly all-water extra loader service
- Logistics surge to see China as world's largest purchasing centre
- Famous Pacific bursts into Brisbane with warehouse complex
- Growth in Asia, Americas boosts APL Logistics quarterly earnings
- Mongolian cargo train sets wheels rolling for Asia-Euro link
- HK tycoon takes 31pc stake in Air Canada
- Menzies signs handling deal with Chengdu Airport
- Malaysia Airlines sees rebound from Sars in Q2 profit
- ATC gives United new foothold in Italy
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| NOVEMBER 12, 2003 |
- Over-regulation the bane of shipping industry, observes BIMCO’s President-elect
- Kerala-Colombo ferry service likely from next month
- Jewellery exports increase in H1
- MICT’s second quay crane swings into operation
- First container train from ICD-TKD arrives at Port Pipavav
- Adapt to changes or perish, says MbPT’s new Dy Chairman
- Knitted garment makers upset by higher excise duties
- CII forecasts 7.2 pc GDP growth during 2003-04
- Foodgrain exports from central pool touch 5 m tonnes in H1
- Mundra SEZ may be as big as Jebel Ali FTZ
- Withholding tax exemption for software imports hailed
- CLE seeks focused strategy to tap Russian market
- Forex reserves rise to $ 92.6 bn
- DGFT asks IEC holders to file trade returns online before Nov. 30
- Jaitley has assured govt support to exporters, says Fieo
- WTO tells US to withdraw steel import duties
- Seminar on ‘Doing Business with Turkey’ today
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| NOVEMBER 11, 2003 |
- Panama steady & busy, suppliers await replenishment
- FSU fuel oil exports rebound to near year-ago levels
October saw a big jump in exports of fuel oil from the former Soviet Union (FSU) through ports in the Baltic and the Black Sea.
- Suez firm, muted demand
- Recent cargo rises fail to dent Fujairah buying interest
- Canada: Vessel successfully prosecuted for 1999 oil spill
"Pollution prosecutions such as this demonstrate to the international marine community that the costs for illegally discharging in Canadian waters are significant," said Transport Minister David Collenette.
- Hong Kong buyers expecting market to fall back again
- Survey: OPEC October output rise purely down to Iraq
A 40,000 bpd fall in output from the 10 members with quotas was more than compensated for by a 270,000 bpd rise in Iraq's oil output last month, according to a Platts survey.
- Montevideo & Alpha Zone market update
- Construction starts on new SMIT Internationale N.V. headquarters
- OPEC price band mechanism starts ticking towards next meeting
If the OPEC crude basket continues to trade above $28 between now and OPEC's next ministerial meeting on December 4th, that would in fact be the 20th trading day above the target range, which should in theory trigger a 500,000 bpd output increase.
- Rotterdam largely steady this morning
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| NOVEMBER 11, 2003 |
- Paul Laeremans re-elected IRU President
- DFDS Tor Line introduces feeder shuttles in Elbe Estuary
- Up, up and away for Beaujolais!
- Public flotation of Deutsche Bahn remains contentious
- Oxford Automotive issues USD 280 million of bonds
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| NOVEMBER 11, 2003 |
- Belgian Flag back on the high seas
- Shipping stocks rare at the Stockholm exchange
- Swedish prestige project delayed
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| NOVEMBER 12, 2003 |
- Crew saved from wreck near Bosporus
THE master and 24 crew of the Georgia-flagged bulker Svyatoy Panteleymon,above , were reported safe yesterday after it broke in two north of the Bosporus Strait.
- Niarchos poised to quit shipping
ONE of the great Greek shipping dynasties, founded by the late Stavros Niarchos, plans to withdraw from shipping, sources close to the company confirmed yesterday.
- Polembros faces ‘outrageous’ $5.8bn claim for Tasman Spirit oil spill
POLEMBROS Shipping is facing a massive escalation in claims from the Tasman Spirittanker spill as a fresh law suit seeking almost $6bn lands in the Sindh High Court at Karachi, writes Nigel Lowry.
- Golden Greek who swept to fame
STAVROS Niarchos, who was born in Athens in 1909, will always be remembered as one of the "Golden Greeks" who swept to riches and fame in the post-Second World War business era.
- Four ‘motorways of the sea’ in EC spending list of growth projects
THE European Commission has identified four maritime developments across the region as part of a larger transport investment programme to be presented to EU leaders for final approval next month.
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| NOVEMBER 11, 2003 |
- CMA CGM officer strike may spread
SAILING delays on two CMA CGM vessels may spread to 10 other vessels as talks between the company and its striking officers over employment conditions remain unsolved. French crews used by CMA CGM have said delay in ship sailings could last up to four days
- Ship breaks up in Bosphorus
SEVERE weather is hampering attempts to contain oil from a ship that split in two after running aground in the Bosphorus late Monday morning
- Ice certificate penalties costly
IRREGULARITIES in Finnish 1A and 1A Super ice class certificates of 100 ships will lead to huge claims by the Finnish Maritime Administration for unpaid fairway charges
- Spanish aid dependent on pay-back
SPANISH shipbuilders have been given authorisation to receive EU yard subsidies, but only when they have paid back the subsidies illegally awarded in 1998
- Helsinki urges fairway charge cuts
HELSINKI’S city government has urged the Finnish Maritime Administration to slash cruiseship fairway charges in a bid to avoid the loss of $10M in revenue
- New wrangles delay Odessa oil
RUSSIAN industry sources believe the Polish government has withdrawn its support for the piping of crude oil from the Ukraine port of Odessa to the Polish refinery at Plock
- Balearia starts fast Ibiza service
- Grimaldi Genoa axes 49 jobs
- Slow SOS response blamed in tragedy
- Belgium's flagging fortunes revived
- Zim could be split to find buyer
- Adsteam in profit despite hard year
- Asians suffer shortage of engineers
- NOL nets $308M from share placement
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| NOVEMBER 11, 2003 |
- Record boxship charter rates retreat
Rates slip from seven-year highs, but tonnage shortage expected to boost market even higher.
- Transfer pricing facing tax scrutiny
Multinational companies, including shippers, freight forwarders and logistics companies, can expect to face increased scrutiny by tax regulators, according to a new survey.
- EGL earnings flat in third quarter
Higher airfreight rates for Asia shipments hurt margins.
- Air cargo slide slows in October
- U.S. rail volumes improving
- Sri Lanka expands Colombo capacity
- Zim forms new Central America division
- UN panel urges Liberia registry to open books
- Cargolux opens Basel office
- Canadian National shops to build 100 more boxcars
- NOL posts $206M net
- China plots port, logistics upgrades
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| NOVEMBER 11, 2003 |
- Dutch dockers begin week of EU Ports Package protests
All Netherlands seaports will see stoppages protesting the EU Ports Package this week, with protests by transport workers’ union FNV Bondgenoten.
- Security expert slams WCO for sluggish response to supply chain terror threat
- RCL builds for the future as profits slump
- Peak season dip in HK volumes
- Modern Terminals looks north to development near Shanghai
- WTO sees flat trading outlook, but 3% average hides nuances
- Seaspan secures financing for nine-ship order
- K Line opens representative office in river city of Wuhan
- Jacksonville reopened after access channel blocked
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| NOVEMBER 11, 2003 |
- Higher rates strengthen Montanari
Italian tanker owner posts big jump in pre-tax profits for first nine months.
- EU OK for Spanish yard aid
European Commission allows 6% subsidy but ‘illegal’ aid may have to be repaid first.
- Full moon greets ghost ships
Protesters plan cheeky welcome for first of fleet at centre of fiasco.
- Eimskip to split again
Shareholders must decide whether to separate Icelandic group’s shipping and investment operations.
- Unions oppose Grimaldi lay-off plans
Workers’ representatives call for one-day strike in protest at Italian owner’s redundancy programme.
- RCL races ahead
Expanding Thai boxship owner’s profit boosted by rate restorations and cost-cutting.
- 'Chicken' IMO jibe
Greenpeace slams IMO as 'a fox guarding chickens' in Prestige report.
- Metrostar pays up for Samco VLCC
Greek owner buys Korean newbuilding at high premium in strong freight market.
- Unithai booms as delist looms
Frank Tsao company in profits bonanza ahead of going private.
- Safmarine boosts Belgium flag
South African container line to transfer ships to newly reinstated European register.
- Ukrainian ship breaks apart in Bosporus
Crew rescued after cargoship runs aground in busy Turkish strait.
- Precious thrives in rising market
Thai bulker owner posts strong nine-month profit figures as it builds fleet.
- NOL completes placement
Singapore national flag carrier confirms fund raising exercise but share price sinks over dilution fears.
- Labroy sees profits jump
Singapore shipyard and shipping firm defines turnover decline to post improved third quarter profits.
- Firms link up to run Brisbane ferries
Transfield and Transdev joint venture clinches deal to run Australian cities' ferry services.
- Manitowoc inks Hornbeck newbuild deal
US shipbuilder inks barge deal that will involve it improving facilities at its Toledo yard.
- Conrad wins domestic workboat order
US shipbuilding group to build 175-ft aluminium crew/supply vessel for Louisiana-based Diamond Services.
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| NOVEMBER 11, 2003 |
- Zim sets up Central American shipping unit
- New World Alliance drops seasonal Pacific loop
- NOL stock down 15% after $308 million share issue
- "K" Line opens Chinese office in Wuhan
- Inchcape Shipping buys out U.S. Gulf agency partner
- Safmarine to use new Belgian ship register
- U.S. government warns of terrorist plot to use cargo planes
- AirNet posts 3rd quarter profit
- Menzies wins ground-handling business in China
- Famous Pacific Shipping expands in Australia
- CaroTrans to benefit from agent's expansion in Scandinavia, Baltic
- Celadon names Glaser COO
- International pressure increases on U.S. to drop steel tariffs
- Produce industry wants origin labeling stopped for reevaluation
- Russian Customs gets release of $140 million loan for modernization
- U.S. gets WTO panel for rice trade dispute with Mexico
- Exel to buy Italian logistics firm
- Stonepath Logistics expands into China
- Bredius appointed CEO of Ceres Paragon
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