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| NOVEMBER 14, 2003 |
Shipping News
- Help feeder operators, RCL urges mainlines
THAI-listed common feeder, Regional Container Lines , has urged mainline container operators now enjoying healthy freight rates to consider the plight of feeder operators still struggling under historically depressed rates.
- P&O Nedlloyd posts US$41m Q3 profit
THE demand outlook for container shipping is favourable 'until at least the end of 2005', according to P&O Nedlloyd, the world's third biggest capacity container line, which reported a third quarter profit of US$41 million against a US$67 million loss in Q3 2002.
- New World Alliance upgrades New York service
APL and its New World Alliance partners Hyundai Merchant Marine and Mitsui OSK Lines have upgraded their weekly New York Express Service with larger and faster - although fewer - vessels.
Air and Land Transport
- Ryanair warns it may shut Belgian hub
CUT-price airline Ryanair warned on Wednesday that it may shut down its operations at Belgium's Charleroi airport after seeing signs that the European Commission is set to rule against it in a key competition probe.
- Lufthansa expects to break even for full year
- UAL's answer to discount competitors
- Hunks aflight on Skynet Asia
- China confirms order for 30 Boeing planes
- LOG Book
Admiralty Casebook
- Shipowner can set up limitation fund in England
AN English court ruled last month that a shipowner could establish a limitation fund in England under the 1976 Convention on Limitation of Liability for Maritime Claims although a cargo claimant obtained security from the shipowner in Singapore, which is not a party to the 1976 Convention.
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| NOVEMBER 14, 2003 |
- Modern Terminals partners Suzhou for port development
- Capacity expansion gives Schenker efficient edge in Milan
- HKT takes delivery of three new quay cranes
- Dalian aims for international shipping centre status
- New vessel added to Straits ports trades
- Long Beach poised to hike tariffs
- Rickmers-Linie names new vessel after Shanghai
- China airlines order further 30 Boeing aircraft
- Fine wine in hands of Lufthansa Cargo
- Taylor takes top role at Americas Systems
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| NOVEMBER 14, 2003 |
- 1989 BCT CHA Group felicitated
- India Inc eyeing Russian cos
- Financial constraints holding up Dhamra port project
- Third phase of Gateway Distriparks’ CFS at Dronagiri commissioned
- Industrial production records 6.5 pc growth in September
- CIAe optimistic about apparel exports after abolition of quotas
- Govt amends anti-dumping rules
- Govt imposes curbs on ECBs - Textile, infrastructure projects exempted from $ 50-m limit
- DGFT denies EPCG benefit for used ACs, gensets, photocopiers imports
- Govt to help exporters in product promotion
- Exporters need credit at zero rates on presentation of L/C, stresses DEA
- Coffee Board to launch risk coverage scheme
- Re appreciation affects garment exporters
- CBEC opposes threshold limit for service tax exemption
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| NOVEMBER 13, 2003 |
- East Coast markets firm amid good avails near-term
- Fuel testing companies still at odds over bunker alerts
Another fuel testing company, Viswa Lab, joins the debate following the recent public statements on the use of bunker alerts from Lintec and DNVPS. The public, meanwhile, seems to be torn mainly between finding bunker alerts quite useful while also being mindful of their use as promotional tools.
- ARA region: Supply tight, demand muted
- Key weekly US oil inventory data show mixed picture
Overall the reports may serve to ease some of the supply concerns that had been building up ahead of them, and light profit taking may see crude prices ease because of that. On the other hand, the draw in crude may prevent a big time sell-off an keep prices reasonably well supported around current levels.
- No change in Japan
- Softer prices today in smooth Italian market
- Slow Singapore market supported only by crude
Bunker prices this Thursday seemed to be consolidating after two days of slight losses, despite steady to slightly firmer cargo values and firm crude overnight. Singapore's fuel oil fundamentals remain weak, confirmed today by stock gains for residual fuels.
- Prestige revisited: One year today since calamity struck
Today, November 13th 2003, it is one year to the day since Bunkerworld.com beat even major newswires to warn the world that a major environmental disaster - a repeat of the 1999 Erika incident - was developing off the Spanish coast. We've had a peak in our on-line news archives for stories relating to the Prestige disaster and its repercussions.
- No great change overnight in Rotterdam
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- Air Transport Association appoints Key Executives
- Malaysia Airlines hub aims for leading regional role
- Hold fire on ports decision, says new British pressure group
- Only 50,000 GO-Boxes ordered so far
- GeoPost partners Yurtici Kargo, a Turkish parcels specialist
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| NOVEMBER 13, 2003 |
- Powerful propulsion package for Austal trimaran
40 knots for Olsen ferry
- $11.7 million contract mod for Bollinger/Incat
TSV lease extended
- QM2 completes final sea trials
On track for inaugural voyage
- Apprentice program pays off
Austal USA program now in third year
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| NOVEMBER 13, 2003 |
- Portland Port Commission sells Warehouse 4 property
- United Seamen's Service presents 2003 AOTOS Awards
- US Lines to begin Asia to Long Beach run
- Port of Olympia announces list of executive director candidates
- Washington governor pleased with Boeing 737 purchase by China
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| NOVEMBER 14, 2003 |
- British MPs back expansion of container hubs
BRITAIN’S ports industry has gained a key political ally as it presses its case for container hub expansion to cater for growing maritime box traffic.
- BG unveils UK gas stake
LONDON-listed BG Group is acquiring a 50% stake in Petroplus International’s liquefied natural gas terminal project at Milford Haven and plans to begin importing more than 2m tonnes annually from 2007.
- Teekay restructures management with LNG ambition in mind
TEEKAY Shipping is implementing a management reorganisation which could serve as the launching pad for the tanker group’s first foray into the liquefied natural gas sector.
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| NOVEMBER 13, 2003 |
- S African builder faces closure
DURBAN-based SA Shipyards, South Africa’s largest shipbuilder, is on the verge of closing down after the National Ports Authority postponed a tender for two tugs for the fourth time in 12 months
- KfW linked to Le Joola replacement
GERMAN financial organisation KfW is to forward €6M ($7M) to the government of Senegal to enable it to buy a replacement for the ferry Le Joola
- Box revenue rise lifts P&O Ned
P&O Nedlloyd has reported a third quarter pre-tax profit of $41M, compared with a loss of $67M in the same period last year
- French applaud safety measures
THE French government is satisfied with progress taken at European level against pollution in the year since the Prestige went down
- UK risks becoming 'backwater'
UK port capacity needs urgent expansion if the UK is to avoid becoming "a backwater of continental shipping", a parliamentary committee chairman warned today
- Israel's ports at standstill
ISRAEL’S main ports at Haifa and Ashdod were brought to a standstill today when union leaders called their members to a half-hour emergency meeting
- Wandering Clémenceau back to Toulon
- China growth fuels Japanese upturn
- India to attract women seafarers
- Report slams UK port bureaucracy
- Koreans plan for tough medium term
- DNV extends its Asian training
- Alliance upgrades New York service
- S Koreans face up to crew shortage
- Profitable HMM targets China
- US maritime unions merge
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| NOVEMBER 13, 2003 |
- P&O Nedlloyd swings to profit
Carrier reverses year-earlier loss on surge in average revenues per TEU that outweighed stagnant traffic volumes.
- Lines upgrade Asia-New York service
The New World Alliance deploys larger, faster vessels on all-water New York Express route.
- Import gateway to give UPS boost
Express giant pleased after Fish and Wildlife Service chooses Louisville.
- P&O global port box traffic soars
- Shenzhen booms as Hong Kong lags
- Simmers named Ceres CEO
- Maersk Sealand launches new India-Saudi service
- Jump for Sea Containers profit
- Kirchner new CFO at Menlo
- Neiman Marcus names FedEx exclusive carrier
- BNSF posts intermodal records
- U.S. Lines name to return to service
- Big first-half gains for MOL
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| NOVEMBER 13, 2003 |
- P&O Nedlloyd back in the black
P&O Nedlloyd (PONL) made an operating profit of US$56million in the third quarter of 2003, compared with a loss of US$46million for the same period last year.
- NOL’s stock downgraded after share placement
Investment bank Goldman Sachs (GS) has downgraded Neptune Orient Lines’ (NOL) stock from ‘outperform’ to ‘in-line’ saying last week’s share placement diluted earnings per share (EPS).
- US Lines brand makes re-appearance
- TNWA upgrades New York Express service
- CSX Caucedo books first call
- Parliament report recommends UK port development
- MEPs urged to vote against European Port Directive
- P&O Ports' box traffic increases by a quarter
- Montreal box growth slows but still in line for record year
- Indian-Singaporean JVs up investment projects in India
- K Line forecasts further growth in box volumes and revenue
- MOL profitability struggles against downward pressures
- Box market big enough for more players, says banker
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| NOVEMBER 13, 2003 |
- OMI jumps on high-yield bandwagon
US tanker owner unveils bond issue and major new equity deal with Acqua Wellington.
- GulfMark profits slide
Company moves to shift more vessels from depressed North Sea market.
- Genmar signs off last two Aframaxes
Company completes Glencore deal, as vessel sales go through.
- Keystone snags Lakes role
US operator wins management contract for new CN fleet.
- Sea Containers logs $100m profit
Profits shoot up with the disposal of Isle of Man Steam Packet, but underlying results also improve.
- Eidsiva bounces back
Norwegian owner turns around last year’s losses thanks to Eukor car carrier charters.
- Laaksovirta jumps ship to Finnlines
Fortum Shipping boss Jukka Laaksovirta’s (left) departure ushers in Risto Nasi at Finnish tanker owner.
- Star's fading profits
Sars-hit cruise line suffers 80% drop in nine-month profit.
- TFDS posts bumper profit
Norwegian ferry owner boosted by increased passenger numbers over the summer.
- Westwood extends bulker charter
US operator takes Norwegian owner Borgestad’s ship until 2005.
- Aker Ostsee books Schoeller octet
German yard group adds eight containerships to burgeoning order list.
- NYK and K-Line boom
Two more Japanese companies report record profits.
- Turnaround continues at Jutha
Thai cargoship owner makes another profit in 2003 as freight rates rise.
- P&O Nedlloyd slashes losses again
Containership giant posts operating profit in first nine months, but financial costs push it into red.
- Fjord Line on downward slope
Norwegian ferry owner logs lower profit in first three quarters.
- P&O ports up, ferries down
Fall in passenger numbers prompts profit downgrade.
- HMM back in the black
Slimmed down Korean owner posts nine-month profit after last year’s losses.
- New World Alliance bolsters fleet
APL, HMM and MOL deploy larger ships on New York Express Service.
- BG to take stake in planned LNG terminal
UK energy utility takes 50% stake in Dutch oil firm Petroplus' proposed Milford Haven development.
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| NOVEMBER 13, 2003 |
- New World Alliance adds capacity, speed to Asia/U.S. East Coast link
- Bernuth leaves U.S/Hispaniola discussion agreement
- "K" Line triples profits in first half
- NYK's half-year profit soars 173%
- P&O Nedlloyd moves back into the black
- APL to take lead with e-payments
- New U.S. Lines plans transpacific service
- Tropical Shipping expands Bahamas service
- FedEx signs multimodal transport deal with Neiman Marcus
- Polar Air cargo adds flights on Asia route
- Menzies Aviation picks up two Australian cargo-handling contracts
- U.S. government warns of terrorist plot to use cargo planes
- AirNet posts 3rd quarter profit
- Famous Pacific Shipping expands in Australia
- CaroTrans to benefit from agent's expansion in Scandinavia, Baltic
- Higher U.S. imports of goods from China and Europe widen deficit
- Bush administration primes Latino business for CAFTA support
- Retailers fight Senate proposal on Chinese currency
- BIS proposes new version of SNAP
- U.S. donates another $5 million in food aid to Afghanistan
- USDA launches Internet list of PACA license holders
- Port of Boston, CMA CGM join Maritime Security Discussion Agreement
- P&O Ports reports 24% jump in 3rd-quarter throughput
- New CEO for Ceres as Kritikos steps down
- Corpus Christi to handle grain shipment to Cuba
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