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| MAY 16, 2003 |
Shipping News
- UK tightens port security after Riyadh blasts
BRITAIN has announced it was tightening its port security, two days after suicide car bombings at foreign housing compounds in Riyadh reportedly killed at least 34 people, including one Briton.
- US probes NCL ship for dumping sewage
STAR Cruises subsidiary Norwegian Cruise Line has once again found itself cruising in sewage as US environmental and coast guard inspectors investigate the Norwegian Sun cruise ship after it dumped 40 tonnes of raw sewage in waters north of Seattle.
- South Korean truckersend strike action
SOUTH Korean truck drivers and cargo workers agreed with the government to end almost two weeks of strike action yesterday, which has cost freight companies about US$450 million in delayed shipments.
- Chittagong to join CSI
THE main Bangladesh container port of Chittagong is set to become the latest port to join the US Customs' container Security Initiative .
- Daewoo's profit soars 53% in Q1
DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, reported a 53 per cent increase in first-quarter profit on lower financial costs and as it booked earnings on higher margin ships.
- Proposal to use old nuclear subs to carry oil
A Russian proposal to turn ageing nuclear submarines into underwater oil tankers sent a shiver through neighbouring Norway on Wednesday over fears of a double environmental disaster in its waters.
- More cranes for CT9
HUTCHISON Port Holdings subsidiary, Hongkong International Terminals Ltd, recently took delivery of two new quay cranes for its two new berths at Container Terminal Nine .
- On the rocks
A curious crowd looking at the Maldivian cargo vessel, the MV Maafishi, which ran aground along the coast near the Sri Lankan capital and port of Colombo.
Air and Land Transport
- Virgin Blue earnings triple, plans public float by Nov
RICHARD Branson said annual profit more than tripled at Virgin Blue Airlines, the UK billionaire's Australian carrier, and he wants a 30 per cent stake to be offered the public by November.
- Southwest Airlines sees profits this yr
- US carriers to get US$2.3b in security reimbursements
- United Airlines, GE agree to revamp aircraft lease pact
- Narita's Golden Week passenger traffic down 38%
- Air NZ extends capacity cuts
Admiralty Casebook
- Owner, master of vessel escape penalty for causing pollution
THE owner and master of a vessel, from which five litres of hydraulic oil escaped while it was moored alongside Lord Howe Island off the New South Wales coast, have escaped penalty for causing marine pollution although they were found guilty of the charges against them.
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| MAY 16, 2003 |
- Lines raise transpacific rates as exports rise
- Union offers to mediate in South Korean truck strike
- WTSA to raise cost of shipping fruit westbound in June
- K Line orders three more panamax ships
- Asian Terminals revenues up 18 per cent in first quarter
- Latest Maersk Sealand vessel launched off Denmark
- Regional Container Lines picks two executives for board
- Air France Cargo traffic up 4.1pc in fourth quarter
- Lufthansa posts US$475 million first quarter loss
- Mexicana Airlines reaches agreement on labour reduction
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| MAY 15, 2003 |
- West Coast markets soft and quiet
- ARA markets continue upward surge
- EU: "Polluter pays" laws closer after narrow MEP vote
- Singapore: One supplier to quit port, another set for return
- Demand picks up with improved supply in Suez
- Japan's bunkers still not soft enough to become attractive
- Business as usual in quiet Istanbul
- Crude oil trades steady to soft after 2-day rally
- US: Preliminary study finds acid contaminants in fuel
- Bullish market moves see Italian demand trail off
- Rotterdam ticks higher this morning
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| MAY 15, 2003 |
- Norwegian net wage system
- Oil transport in nuclear subs?
- "Prince of Scandinavia" up for sale
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| MAY 15, 2003 |
- New CEO at Austal USA
Metcalf replaces Lerchbacker
- Security regs at OMB
The U.S. Coast Guard has submitted several critical maritime security interim regulations to the Office of Management and Budget (OMB)
- Key role for IZAR in LCS effort
Lockheed-Martin is saying a little more about the role that Spanish shipbuilder IZAR will play on the Sea LCS (Littoral Combat Ship) team
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| MAY 15, 2003 |
- Port of Portland commissioner announces plans to resign
- US rail freight traffic sees positive month of April
- Port of Seattle set to host Classic Yacht Rendezvous
- "K" Line exercises option for two new container ships
- Hanjin adds container ship to New China Europe Express route
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| MAY 16, 2003 |
- Oil spill compensation talks bogged down by disputes
WRANGLING continued at the International Maritime Organisation yesterday as country delegations dug their heels in over maximum levels available under the proposed third tier of compensation for oil spills.
- BG gas carrier bonanza for West Africa
UP TO 14 vessels could be employed in BG’s two new long-term liquefied natural gas supply contracts with West African projects.
- Fincantieri conquers at Cruise+Ferry
DELIGHT is etched on the faces of Fincantieri's deputy chairman, Roberto Tana, and Cruise Business Unit head Enrico Buschi after the Italian firm scooped two awards at the prestigious Cruise + Ferry gala dinner in London. The first award, won jointly with Carnival Cruise Line, recognised the shipbuilder’s contribution to the Carnival Conquest.
- Next Sakhalin phase receives the go-ahead
A SECOND phase of the Shell-led Sakhalin II project has been given the green light after the partners sanctioned a $10bn investment programme to build offshore platforms, pipelines and a liquefied natural gas plant by 2007.
- Act to allow owners to base pay on nationality
FOLLOWING strong representations by UK shipowners concerned at a promised repeal to the Race Relations Act that would have made it illegal to pay foreign resident seafarers less than UK residents, the government has amended the Act to make it possible to discriminate on pay on grounds of nationality.
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| MAY 15, 2003 |
- Teekay forecasts upturn
- EU enlargement safety problems
- Petersburg to close for birthday
- Asia penetrates US cruise market
- Labour targets Carnival tax haven
- Cosco Pacific poised for port deal
- Forex kills off HMM profit
- PDVSA future questioned
- Political pressure 'is wrong'
- Federation urges year-round Seaway
- Colombo bunker price cut in sight
- Sudan oil starts flowing to India
- French tonnage tax approved
- Finnjet to sail for St Petersburg
- France requests EC aid extension
- Germany aids Senegal's ferry bid
- India revisits port sharing policy
- India to ban 'rustbuckets'
- Tranz Rail considers US take-over
- O’Neil: IMO needs teeth
- Hanjin shrugs off 1Q losses
- Essco Spirit freed
- Car berths get under way
- Busan strike settled
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| MAY 15, 2003 |
- High-risk ports get $75M for security
Department of Homeland Security also grants New York/New Jersey, Charleston $35 million to develop systems to prevent 'dirty bomb' attacks.
- Middle-age spread: New passenger weight rules could hurt air cargo
New FAA estimates could force airlines to cut back on the amount of cargo carried on passenger planes.
- Deal in Busan truckers strike
- Trailer Bridge loss on higher fuel costs
- P&O Ports loses legal fight over Indian box terminal
- MOL to develop Oman shipping
- Atlas names Lancelot CFO
- Two promoted at North Carolina ports
- 1Q loss widens for Sea Containers
- Amerijet begins Panama service
- Emirates takes third freighter from Atlas
- Proposal budgets $247B for highways
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| MAY 15, 2003 |
- Shenzhen plans to ramp up delays and costs for HK cross-border container trucks
Box transportation costs will rise and shipments headed for Hong Kong port may face huge delays when Shenzhen’s government implements planned restrictions on Hong Kong cross-border container trucks.
- Truckers release stranglehold on world's third box port
Negotiators from the Korea Cargo Transport Workers’ Union and the government reached agreement early today, ending the strike by truck drivers at the world’s third container port.
- RailAmerica in 'opportunistic' bid for struggling Tranz Rail
- HHLA lobbying blocks new private terminal in Valparaiso
- Weak rates offset NYK liner volume boom
- Internet service tackles California port congestion
- Sydney rail terminals to close as PN switches to trucks
- Timetable, potential bidders lined up for new German port
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| MAY 15, 2003 |
- Tanker shares near high point for 2003
Several companies cool slightly on strong week.
- PDVSA put to the test
Traders weighing whether first RFG cargo to US is the right stuff.
- Oil prices back off surge toward $30 mark
Strong rebound week still casts doubt on further OPEC cuts, analysts say.
- Swedish Club axes London office
Ryanair’s $12 flights help persuade insurance mutual it no longer needs UK outpost.
- Happy as a clam
Buzzards Bay shellfish beds set to reopen as Bouchard spill abates.
- Varna bidders slimmed to three
Winner of tender for Bulgarian yard to be made known in 10 days.
- K Line profit doubles
Spectacular growth in China trade and cost slashing boosts Japanese owner.
- Naftomar buys Bergesen ship
Elderly gas carrier sails for Greece while sistership heads for Chinese scrapyard.
- HHI hoists profit but sales slip
Yard not yet able to match spectacular profit rises of Korean competitors.
- Hanjin Shipping battles the blues
Jump in overseas debt value widens losses for Korean owner.
- HMM slumps to first quarter loss
Sales plunge for Korean owner following car carrier sell-off.
- Seaarland joins aframax pool
Austrian management company is set to contribute four ships over the next three years.
- Samsung doubles profit
Shipbuilder follows first quarter boom trend of fellow Korean yards.
- Weak rates hit NYK's year-end result
But Japanese shipowner is forecasting big gains for the year in hand.
- Keppel inks Maersk newbuildings
Brazilian subsidiary FELS Setal to build two platform supply vessels for Danish owner.
- Hanjin Heavy profit escalates
Korean shipyard sitting pretty as it cuts interest costs and basks in order surge.
- Norshipco buys dry dock
US shiprepair facility to expand capacity with acquisition of 14,000-ton unit from Metro Machine.
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| MAY 15, 2003 |
- Coast Guard to hold public meeting over Cove Point LNG terminal
- Bouchard ready for sea trials of new ATB unit
- IMB, SSI form joint security venture
- Canadian conferences post rate increases
- MarAd: U.S.-flag operators still face labor wage disadvantages
- Expanded MSP included in proposed 2004 Defense authorization bill
- "K" Line's net income doubles in fiscal year 2002/2003
- Short line operator seeks New Zealand presence
- Asia improves curve for January air cargo volumes
- Atlas Air fills financial post from within
- Amerijet begins Panama service, invests in ocean intermediary
- AMS-approved NVOs to get better control over in-bond cargoes
- SARS threatens logistics operations, industry executives say
- Support builds for U.S.-led WTO biotech case against EU
- Sens. ask GAO to check administration’s handling of port security
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