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| MAY 19, 2003 |
Shipping News
- Spain sues ABS for US$5b over Prestige
SPAIN has filed a US$5 billion lawsuit against the American Bureau of Shipping , alleging the classification society's negligence played a part in the sinking of the Prestige, a government source said.
- Mega arrival
THE world's biggest container ship sailed into Singapore yesterday, setting a new milestone both for the container liner business and the PSA Corp terminals.
- Substandard ships face stricter checks
SUBSTANDARD ships and notorious flags of convenience will soon face stricter inspections at some of the world's major ports, a leading marine inspection body said.
- Indon cargo ship sinks off Indian coast; crew rescued
THE Indian coast guard has rescued the 22-member crew of an Indonesian cargo ship carrying oil and soda ash which sank in the Bay of Bengal on Friday.
Air and Land Transport
- Japan Airlines forecasts 43b yen loss this year
JAPAN Airlines System Corp, Asia's largest carrier, forecast a 43 billion yen net loss this year as the Severe Acute Respiratory Syndrome virus puts people off travelling, forcing it to cut flights six times in the past two months.
- Indian carriers in price war to fill seats
- Virgin Express pulls out of plans to fly from Paris' Orly
Ship Sales
- SHIP SALES
THE impact of the various holidays has left very few sales to report but there are reports of 5 ULCCS and 2 VLCCs being sold for demolition, all with delivery China or Bangladesh, between US$197 and US$201 per ton lightweight.
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| MAY 19, 2003 |
- Shenzhen Customs, YICT to expedite customs declaration
- MOL and Oman to develop shipping industry
- APLL names new senior VP
- IFLN, DSG-Tradevision link up to offer track and trace
- Revision of the third package for liberalisation of air
- Evidentiary hearing for Hawaiian concluded
- UA reports April traffic
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| MAY 16, 2003 |
- Daily Bunker market report from Praxis Energy Agents
- INTERTANKO applauds US steps towards ratifying MARPOL Annex VI
- Enhanced compensation for oil pollution victims
- African market review
- Singapore power company to reduce fuel oil consumption in 2006
- Crude falls as US refinery restarts, more Saudi oil in April
- Rotterdam market back-tracks with bearish crude
- OPEC President says cuts are likely at June meeting
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| MAY 16, 2003 |
- Cathay resumes service to Hong Kong and Fukuoka
- General director leaves ICF at the end of 2003
- Hapag-Lloyd reports third highest profit in company history
- Sitarail intends to reopen the Abidjan Ouagadougou-route
- EGL Inc. posts its 2003 first quarter results
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| MAY 16, 2003 |
- Moltzaus orders two ferries
- The Swedish Club closes London office
- Net wage proposal met with incredulity
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| MAY 16, 2003 |
- Hollings and McCain seek GAO probe of port security
Senators are concerned about adequacy of security ate ports
- Bush sends MARPOL protocol to Senate
Cleaner air pact nearer to U.S. ratification
- Maersk orders PSVs in Brazil
FELS Setal gets order for two UT745L's with options for two more
- Repeat orders for world's most powerful medium speed
Four Wartsila 6L64 engines have been ordered by Polish shipbuilder Stocznia Szczecinska Nowa Sp.z o.o. for four 18,900 dwt multi-purpose vessels contracted by Spliethoff Bevrachtningskantoor B.V
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| MAY 16, 2003 |
- Washington governor signs bill paving way for Boeing dock in Everett
- TMM Lines adds service between Central America/Caribbean
- Corps holding eruption program at Bradford Island Visitor Center
- Pair of Coast Guard cutters heading home from Gulf duty
- TriMet nets federal funding for Interstate MAX project
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| MAY 19, 2003 |
- Ousted WWL in new pact
WALLENIUS Wilhelmsen Lines is working on an alternative partnership agreement after being forced to leave the Far Eastern Freight Conference.
- IMO agrees oil spill damages protocol
AFTER days of tense discussions, agreement was reached at the International Maritime Organisation on a protocol establishing a third tier of compensation for oil spills.
- Spain sues ABS for $700m over Prestige disaster
THE Spanish government filed suit in New York on Friday afternoon against the ABS, charging it with negligence over its role in the loss of the Prestige and asking the court for $700m in damages for costs already incurred as a result of the casualty, writes John McLaughlin.
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| MAY 16, 2003 |
- Korean bank in breakthrough
- UK retains seafarer pay exemption
- Iran, Yemen agree to boost shipping
- Spain files $2.3Bn suit against ABS
- Swedish Club closes London office
- Third tier agreement hammered out
- Port access closed after bulker sinks
- Senators demand port security probe
- Maritime Security Program extended
- Lines hit by box shortage
- Rafaela S controversy goes to Lords
- Box scan leads to major drug seizure
- Rebates drag down PSA profit
- Pakistan to release Indian crew
- Australian tax office confirms ruling
- Iranian port joins food aid outlets
- Israeli strike talks break down
- Marseilles builds for cruise growth
- Security alliance offers advice
- Precious profit surges
- Seyang hits profit trail
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| MAY 16, 2003 |
- Bush pressed on Maritime Security Act
Hollings, McCain ask GAO to see how well administration is fulfilling its obligations under the law.
- Forwarders think they'll get short end of US Airways regional jet order
A move by the airline to deploy smaller, more efficient jets on many routes could signal a fundamental change in the way domestic forwarders move freight.
- MOL shipping profit falls
- Bush asks Senate to ratify maritime pollution treaty
- Judge sets schedule in DHL Airways case
- TNT joint venture wins Fiat contract
- Title XI hearing postponed
- EGL names two new directors
- GeoLogistics names Loehner SVP
- Stonepath rebrands international unit
- New airline passenger weight rules could hurt cargo
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| MAY 16, 2003 |
- Cost of customer retention offsets PSA's turnover surge
PSA Corp grew turnover 29.5% to S$2.96 (US$1.72) billion in 2002, but suffered a 23.5% drop in net profit to S$560 (US$325) million after spending on customer retention.
- New levy on vessel calls could fund HK maritime development
A study has proposed that Hong Kong impose a HK$200 (US$25.64) levy per vessel call to finance development of the SAR as an international maritime centre.
- New Cape Town strategy to 'eliminate' terminal congestion
- CMA CGM's UK east coast feeder service to launch in June
- Industry approves improvement to 24-hour rule
- HK Government joins Shenzhen container truck dispute
- Foreign cross-traders drive out NZ coastal fleet
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| MAY 16, 2003 |
- Arison gets $1.7m bonus
But overall package stays the same for world's 104th richest man.
- Guilty plea in Legend case
Woman confesses to hoax, but allowed out on bail after pregnancy news.
- Pollution payout limit agreed
IMO conference agrees to lift limit to $1bn as EU gives shipping five years' probation.
- China oil facility shut down
Huangpu oil berth closed, though officials keep mum.
- TMM defaults on bonds
But group wins temporary stay from creditors' action.
- BDO bid to escape ACLN fails
Ruling leaves accountant facing damages suit over collapsed car carrier venture.
- P&O upbeat on outlook
Freight upturn and absence of SARS impact cheers Lord Sterling.
- Seyang returns to profit
Ambitious Korean owner wipes out red ink as it eyes up tanker expansion.
- Vela fixes Jahre Viking
World's largest tanker sails on, cashing in on strong market rates.
- Stronger rates help Thoresen
Thai handysize bulker player says bigger and better fleet contributed to improved profit.
- Seatrends calls it a day
Shipping newsletter sinks after failing to secure a rescue deal.
- MOL improves fortunes
Japanese giant predicts big profit hike for coming year.
- CSG to ink Dalian VLCC
China Shipping Group is following in the wake of compatriots to order larger tanker tonnage.
- BMT inks Aussie port tie up
UK engineering and technology group established management consultancy services joint venture.
- OMI in cash raising exercise
US-listed tanker operator files mixed $250m shelf offering.
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| MAY 19, 2003 |
- Maersk Sealand starts Mediterranean/U.S. East Coast link
- European/Middle East carriers raise Kuwait surcharge
- P&O's Sterling sees better profit prospects this year
- NYK Line reports higher operating income despite downturn
- MOL group suffers profit fall in 2002/2003 fiscal year
- Maersk Sealand names new megaship
- Safmarine joins Maersk's new pacific link
- Kalitta cargo plane damages airliner at BWI
- DOT allows more time for DHL case
- U.S. government reimburses airlines for security costs
- DOT highlights intermodal benefits of SAFETEA legislation
- BIS to develop "best practices" for forwarders to stop cargo diversion
- Montgomery appointed MTMC chief of staff
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