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| DECEMBER 15, 2003 |
Shipping News
- P&O Ports, HNN face volume deadline
PSA Corporation's Belgium subsidiary Hesse Noord Natie and its rival P&O Ports will be forced to relinquish some of their new terminal concessions at Antwerp port to Maersk Sealand if they fail to fill as much as 45 per cent of the new capacity by mid-2005.
- All-water trend boosts Panama Canal's business
CONTAINER shipping's accelerating embrace of the all-water route helped boost the Panama Canal's transits and tonnage to record levels in fiscal 2003.
- APL ships taking part in global weather project
NEPTUNE Orient Lines' liner division, APL, is doing its part in helping scientists better understand global climate change by taking part in a pilot programme to collect north pacific weather data.
- Box volumes at HK's key terminals slid further
CONTAINER throughput at Hong Kong's main container terminals of Kwai Chung have slid for the sixth consecutive month with a 1.9 per cent drop in November throughput over the same period last year.
- Vessels sink off Estonia, Philippines
THREE seamen were missing and 22 rescued after a Philippine trawler sank following a collision with a cargo vessel in southern Philippine seas yesterday.
Air and Land Transport
- Boeing board likely to approve 7E7: analysts
BOEING Co's board of directors is almost certain to go ahead with the new 7E7 commercial jet, mostly because the aerospace company desperately needs a new plane to sell, analysts and company sources say.
- Emirates interested in new Boeing 7E7 jet: report
- America celebrates Wright Brothers flight centenary
- Korean Air raises domestic fares
- Atlas Air delays filing for bankruptcy
- Delta frequent-fliers top in aiding US soldiers in Iraq
Dockyard
- Is conversion of single-hull tankers economically viable?
IT is probably safe to say the single-hull tanker phase-out debate has been settled once and for all at the International Maritime Organisation .
Ship Sales
- SHIP SALES
MODERN tankers have taken pride of place in this week's sales list, with a number of 'multiple ship' deals, the most notable of which being the sale of the Niarchos Tanker fleet of 3 Modern VLCC's and 2 x 2003 built aframaxes.
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| DECEMBER 15, 2003 |
- Kwai Chung throughput falls in November
- China logistic firms unable to meet foreign requirements
- TT Club upgraded to B++ by AM Best
- OOCL orders two new 8,000 TEU containerships
- FS Mackenzie expands trailer services to Balkans
- SAS to offer direct service to Shanghai
- Air France cargo figures increase
- British Airways World Cargo to raise fuel surcharge
- Lufthansa Cargo appoints Betenia to key US sales post
- Luludis joins DF Young as vice president for IT
- Frankfurt throughput rises
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| DECEMBER 15, 2003 |
- Sagar Mala project to bring about sea change in Indian maritime sector
- Charter hire payments made to foreign shipping lines taxable, rules CBDT
- India seeks extension of proposed trade pact with Bangladesh
- Soyameal exports rise by 97 pc in Nov.
- India not to give additional access to entry of farm products
- Ministries to review food export rejects
- Railways may raise freight rates on some goods
- Concor declares 110 pc dividend for 2002-03
- 7 highway stretches to be four-laned on BOT basis this fiscal
- CONCOR plans to haul cars too
- Govt approves setting up rail tariff regulatory body
- Centre to take up norms fulfilment issue for apparel exporters
- ADB sees India achieving higher GDP growth
- Target for engg goods exports raised
- KASEZ gets 300 acres more land for expansion
- IOC allowed to make shipping arrangements
- Customs duty on 20 plantation equipment reduced to 5 pc
- Kolkata to host industrial trade fair from Dec.19
- BCC&I signs MoU with Belgian & Luxembourg Chambers to foster trade
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| DECEMBER 12, 2003 |
- US and European winter freeze push crude prices higher
- Barge trouble in Abidjan, off-Nigeria IFOs tighten
- Bearish end to a bullish week in the Baltic
The Baltic is seeing a bearish end to what has otherwise been quite a bullish week, with the majority of IFO and gas oil indications across the region falling off this afternoon.
- FSU November fuel oil exports up 18.8% on last year
- Large Med fuel oil cargo volumes booked to Singapore
Traders have leapt on an arbitrage opportunity opening this week between the Mediterranean and Singapore, resulting in about 700,000 metric tonnes of HSFO being booked to go East.
- OPEC quota cheating at more than 1 million bpd last month
- Rotterdam bunker prices spread widens
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| DECEMBER 12, 2003 |
- Bulker order likely to Masa Yards
- Frontline bond issue finally priced
- Stolt will try new convertible bond issue
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| DECEMBER 12, 2003 |
- CMMC to buy Charleston shipyard property
$9 million purchase price
- More orders for RT-flex 96 C engines
Most powerful diesel thus far announced with electronically-controlled common-rail fuel injection
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| DECEMBER 15, 2003 |
- Canada’s Martin is sworn in
CANADA’S Paul Martin became the world’s fourth major political leader with maritime industry links serving in high office when he was sworn in as Canada’s 21st prime minister on Friday, write Leo Ryan and Rob McKay.
- Westport hits back over Geroi Sevastopolya
THE charterer of the single-hulled tanker Geroi Sevastopolya , whose projected passage through the Bay of Biscay touched off an international furore last week, has broken its silence in a strong defence of its choice of vessel on this occasion as well as its wider safety and environmental record.
- Niarchos exits with a bang as bulker pair fetches $68m
NIARCHOS has bid its final farewell to the shipping sector after selling its last bulk carriers for a market-beating $34m each, writes Martyn Wingrove.
- Frontline bond gains high price
FRONTLINE’S $580m high yield bond has been priced at a higher coupon than achieved by other recent tanker company issues.
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| DECEMBER 12, 2003 |
- Dry markets hitting record levels
THE Baltic Dry Index (BDI) cruised past a new record high this week, hitting 4,468 today and outstripping the previous record high set at the end of October. Neither Capesize nor Panamax markets have regained their October levels yet but both look set to do so next week if their current pace is maintained
- Channel ferries back to normal
FERRY operations across the English channel returned to normal this afternoon after two separate delays on successive days
- Spain confirms extraction plan
SPAIN has officially adopted a shuttle bag technique as the definitive solution to extract fuel oil remaining in the submerged tanks of the tanker Prestige
- Sri Lanka port flouts its rules
SRI Lanka Port Authority has allowed a detained barge and tug to bring in another shipment of LPG despite the owner not providing insurance or safety guaruntees
- Frontline raise $580M before split
FRONTLINE is about to raise $580M for Ship Finance International Ltd, an owned subsidiary that will take over the ownership of 47 ships in the planned split of the group
- Greenpeace unwelcome in India
GREENPEACE campaign vessel Rainbow Warrior departed from Mumbai, India today after being denied permission to call at the port
- Nenaco denies bad accounting
- Izar union warns of ‘black future’
- ITF slams Spain’s gun boat policy
- BC Ferries bid to impose strike rule
- Confitarma applauds Rome over tax
- French Senate votes for new flag
- Atlantic Ro-Ro in Bayonne launch
- US partner for ship valuation team
- Angry forwarders warn Genoa
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| DECEMBER 12, 2003 |
- FDA: Sign-ups lag new bioterror rules
Little more than one-quarter of food facilities that do business in the U.S. have registered as required by the Bioterrorism Act.
- Frankfurt caps Europe's bullish week
Long-haul increases spur 3.2 percent monthly gain in air-cargo throughput, in line with growth by airlines.
- NY/NJ sets 2004 port budget
Port Authority board approves $4.5 billion budget including $1.8 billion in capital expenditures.
- TACA extends fuel charge
- N.Y. rail freight tunnel gains congressional support
- Terminal exec killed at Port Everglades
- U.S. retailers oppose Canada lumber deal
- Malaysia plans Kelang FTZ
- OOCL orders two more 8,000-TEU vessels
- Rail woes snarl Canada grain transport
- Pakistan’s Qasim cuts charges
- New reefers for Horizon Lines
- West Coast terminals to deploy wireless ID for trucks
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| DECEMBER 12, 2003 |
- ‘MarCo will die but Hannibal will fly’. Upbeat Eurogate plans to resurrect Alpine intermodal joint venture
Contship Italia has confirmed that it will dissolve MarCo, its intermodal partnership with Railion, at the end of the year but will not give details of the replacement service.
- Busan’s typhoon ravaged Jasungae returns to full operational capacity
Jasungdae Terminal - part of Hutchison Korea Terminals (HKT) - has celebrated its return to full operations with the commissioning of three new quay cranes.
- Montreal returning to normal as strikers return to work
- South Stevedoring VP killed
- OOCL orders two more SX Class ships
- Samskip expands into North-East European market via Van Dieren Maritime
- Horizon Lines adds new reefer containers to fleet
- TT Club’s AM Best rating gets better
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| DECEMBER 12, 2003 |
- A strong vote, by George
How are George Bush and Georgiopoulos connected?
- Second Novoship single-hull booked for Europe passage
Fixture comes one week after Spain warning.
- Chandris shells out for Niarchos newbuildings
Stunning $10m premium paid for panamax bulkers resales.
- Lloyd’s Register hits the rocks
Classification society in the red as survey activity falls.
- Fearnleys chief quits
Morten Riis (left) takes the helm at new Johan Benad Ugland venture.
- Varna eyes six newbuildings
Bulgarian yard in talks for Canadian contract that could be worth $120m.
- Sakhalin Energy confirms LNG tender
Shell-led export project outlines shipping requirments.
- Saaremaa could fall off gravy train
Estonian owner stays out of lucrative tender battle for subsidised services it currently runs.
- TACA pushes up westbound rates
Container lines adding $400 per teu from Europe to the US.
- HMM hopeful of big gain
Korean boxship owner says operating profit could be up 30% next year.
- Lithuanian Shipping rejigs debt
Klaipeda-based owner uses four dry cargoships as collateral for new loan.
- OOCL ups Samsung SX tally
Hong Kong boxship player orders two more 8,063-teu ships at Korean yard.
- BC Ferries heads for Supreme Court over strike
"Illegal action" by Canadian owner's staff continues, suspending services for second day.
- Court blocks Hyundai rights issue
Youngest brother of Hyundai founder wins latest round in battle to control Korean chaebol.
- Second Good Faith bulker held
Greek owner falls foul of Aussies in same month Hong Kong detains one of its ships.
- Labroy boosts China trade
Singapore owner takes majority control of tanker barge operation in the People's Republic.
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| DECEMBER 12, 2003 |
- OOCL orders another two 8,000-TEU ships
- COSCO welcomes U.S./China maritime agreement
- U.S./India carriers add Indian call at Mundra
- Europe/South America lines plan three rate rises for 2004
- Frontline sells $580 million notes to refinance tanker fleet
- Horizon Lines adds 900 reefer containers
- U.S.-flag lines prepare for major military equipment moves to Iraq
- MarAd asks for fresh proposals for vessel disposal
- Airports Council assembly refuses to bail out airlines
- GeoLogistics names Blaufuss to direct air freight for 3 regions
- Yellow Roadway Corp. is born
- FMC reviews 4 OTI applications, revokes 10 licenses
- UTi reports higher profits, revenues for August-October
- ICC wants government leaders to jumpstart Doha round
- African businesses support adoption of "AGOA III"
- Mali to take advantage of AGOA for textile shipments to U.S.
- Ex-Im Bank backs $69 million loan for Gulfstream's Saudi jet deal
- Textile importers run into common visa problem at end of year
- Shanghai to surpass 11-million-TEU traffic in 2003
- Port of Tacoma invests for expected "steady growth"
- Wolfe named to head Port of Olympia
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