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| AUGUST 22, 2003 |
Shipping News
- OOIL's first-half profit soars to record US$79.5m
HUGE volumes and significant freight rate increases saw Hong Kong's Orient Overseas International's interim net profit catapult to a record US$79.5 million - compared to just US$1 million in the first half of 2002.
- Frontline sells two tankers, raises dividend forecast
FRONTLINE, the world's biggest operator of large oil tankers, agreed to sell two of its very large crude carriers for US$150 million to free up cash and pay a larger-than-expected third-quarter dividend.
- Shell oil field's spill is Norway's third largest
A leak from a Royal Dutch/Shell Group-operated field in the Norwegian Sea in May was the third-biggest on the country's continental shelf and larger than previously estimated, Norway's Petroleum Directorate said.
Air and Land Transport
- Qantas posts first loss as Sars, Iraq war take toll
AUSTRALIAN flag carrier Qantas posted its first loss as a public company yesterday after the war on Iraq and the Sars epidemic ate into earnings for the carrier already struggling in a battered airline sector.
- Brazil's Embraer eyes Star Alliance jet order
- Japan may make Boeing's new 7E7 a national project
- Ryanair, Nordic consumer agencies clash over practices
- Virgin Blue hopes to fly to NZ by year-end
- ILFC leases 16 planes to 11 airlines
Admiralty Casebook
- Training consultant loses claim for injuries
AUS appeals court last month dismissed maritime claims brought by a marine safety training consultant for injuries he sustained while observing a shipboard exercise involving lifesaving equipment.
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| AUGUST 22, 2003 |
- Shippers back China calls for transparency of THC
- India and Singapore closer on trade ties after summit
- Standard & Poor's lifts Swedish Club rating
- Shipowners to call for international voice at HK forum
- Australian customs' IT systems set for stern tests
- CP Ships in for the long haul with new charter deal
- Jobs to go as DHL completes Airborne acquisition
- Menzies puts new men in charge at Schiphol
- Continental to start non-stop New York, Bahamas flights
- AACO 36th AGM to be hosted by Oman Air
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| AUGUST 22, 2003 |
- Floating dry dock sold as scrap for Rs 2.5 m
- DGS asks maritime training institutes to follow candidate selection procedure
- Project exports post impressive 60 pc jump in Q1
- US, Canada target India’s veg oil market
- India to buy 3 m tonnes crude from Iraq
- Dumping duty on methylene chloride mooted
- India to seek special status for basmati rice - ...to secure protection for Darjeeling tea too
- More shipping lines mulling option of calling at Mumbai Port - CONCOR’s assistance sought
- Vallarpadam International Container Terminal taking concrete shape - CSX World Terminals, Maersk Sealand agree to submit price bids by Sept. 12
- Leather export park near Kolkata proposed
- Notifications on Customs, excise rules for special economic zones put off by 2 months
- Refineries help prune petro-goods import bill by 33 pc
- Study suggests tariff rate quota mechanism for urea imports
- N. K. Singh task force to submit power reforms report
- Shellac exporters seek DEPB facility
- SurSEZ exports reach Rs 763.5 cr. in April-July
- India, 13 nations forge united front for WTO agriculture talks
- AP govt to take 13 pc stake in KRRC project
- Foreign Trade Analysis: Current Policy & Procedures - Classroom lessons for new exporters - 17
- Govt to organise India Fashion Week
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| AUGUST 21, 2003 |
- Californian suppliers lament bunker tax
US West Coast markets remain very quiet this week. It seems the effects of California State's hefty bunker tax are finally beginning to hit home. Sales volumes are way down. One supplier told bunkerworld today that their typical volumes are between 200,000 and 300,000 mt per month. So far this august they have sold just 26,000 mt.
- Pacific NorthWest another casualty of MDO supply
- IBIA moves to the seafront
- ARA: Quiet market, but cutterstock shortage starts to bite
- Skittish Japan sees numbers fall and product build
- Bears still holding firm grip on Singapore's fuel oil market
The Singapore fuel oil market continues to groan under the weight of high inventories, very limited regional demand and another big slew of arbitrage cargoes said to be on their way. How long will the bears stay?
- Slight tightness mars Italy's otherwise sunny demeanour
- Rotterdam steady this morning
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| AUGUST 22, 2003 |
- Vollers Group Bremen announces new sales manager
- OOIL: Dramatic improvement in profits
- Vienna Airport: Good traffic figures for July maintain upward trend
- BTS and Kombiwaggon merge to become BTS Kombiwaggon Service GmbH
- DPWN CEO Zumwinkel expecting profit of EUR 2.9 billion in 2003
- Big three Italian west coast ports growing strongly
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| AUGUST 21, 2003 |
- SARS, bunker prices and boiler explosion hits hard on Star Cruises result
- Crystal vessels to Fredriksen
- Four ferry operators compete for Bornholm concession
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| AUGUST 21, 2003 |
- Navy consolidates Gulf SUPSHIPS
SUPSHIP New Orleans, La., and SUPSHIP Pascagoula, Miss., will be disestablished and replaced by a new command, SUPSHIP Gulf Coast, beginning Oct. 1.
- Northrop Grumman settles NNS false claims suit
Denies liability
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| AUGUST 21, 2003 |
- Port of Seattle offers help for disabled travelers using Sea-Tac
- Rail association report finds freight traffic down during week
- Portland Airport begins final 'Summer Splash' event
- Oregon governor taps Johansen for Portland Port Commission
- MarAd cruise travel report finds passengers counts up from '02
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| AUGUST 22, 2003 |
- Ten to cash in on thirst for tankers
TSAKOS Energy Navigation has agreed in principle to cash in on high tanker demand by selling up to two of its recently delivered suezmaxes for investors in Germany’s KG system.
- SK Shipping dragged into accounting scandal
SK SHIPPING has become embroiled in its parent company’s Enronesque accounting scandal.
- Australian LNG joint venture faces year-long delay
CONSTRUCTION of a fifth liquefied natural gas train for Australia’s giant North West Shelf project is likely to be delayed by at least a year.
- New targets for Woodside as profits rise by 3%
WOODSIDE Petroleum, Australia's second largest oil company, reported a three per cent improvement in first-half net profit to A$272.2m from a restated A$263.7m in 2002, writes Tony Gray.
- Detained bulker’s owner in dispute over scrap order
A GREEK owner has denied claims by Britain’s Maritime and Coastguard Agency that he is effectively being forced to scrap his structurally unsound bulk carrier, writes David Osler.
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| AUGUST 21, 2003 |
- Unlucky Oryx arrives for repair
- Visak accused over docker deaths
- China plugs aluminium production
- CSSC moves towards shipyard goal
- Ecuador oil export pipe completed
- Lula lifts stay on port concessions
- Heaviest section of Tricolor raised
- Salvors race to save Sealand Express
- Tilbury takes to the rails
- Dutch pursue stability studies
- Ports boosts Hutchison Whampoa
- NOL exceeds expectations
- Philippines issues safe lanes map
- Australia warns on crew standards
- Salvage, heavy lift boost Smit
- Screw turns at Peene-Werft
- Falling levels block Danube traffic
- Singapore lifts SARS curbs
- Chung family tightens grip on HMM
- Busan hit by new truckers' strike
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| AUGUST 21, 2003 |
- Boxship orders on record rally
Orders for new containerships this year have already topped 1 million TEUs, more than doubling the contracts signed for all of 2002 and on track to surpass 2000, the previous record year.
- NOL has strong second quarter
Neptune Orient Lines reversed year-ago results for the second quarter as it reported a net profit of $68.5 million, compared with a loss of $63.8 million in 2002.
- WTSA to up forest products rates
Carriers look to get first rate hikes for lumber and pulp in two years.
- ILWU chief Spinosa re-elected
- CSXT operations hit by computer virus
- GM will build Cadillacs in China
- Lynden Air Freight opens U.S., China offices
- Letter: Trade opinion flawed
- ARC renames U.S.-flag fleet
- Former DW&P labor ratifies CN pact
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| AUGUST 21, 2003 |
- NOL interims more than 30% higher than analysts’ estimates
Neptune Orient Lines (NOL), parent of APL and APL Logistics, exceeded all expectations in the first half-year reporting a net profit of US$88.8m on US$2.6 billion turnover.
- Canada’s West Coast labour negotiators edge toward a deal
Progress in negotiations in Canada’s West Coast labour dispute was reportedly made earlier this week and federal mediator Bill Lewis has asked the two sides to reconvene tomorrow.
- Looking to the heavens: weather closes in on Maersk ship
- Korea’s truck drivers strike hits box terminals
- Damaged Kiwi feeder heads for dock
- Korean ministry calls for scrapping of port charges on transhipment boxes
- Malaysian Customs agrees to speed release of detained boxes
- Tugs again fail to move stranded Maersk ship
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| AUGUST 21, 2003 |
- Cruise doctor to answer PI claims in US
Court rejects argument that ship's medic governed by Liberian law.
- Panama's OPA?
Canal proposes new rules for emergency response plans.
- Lines hike forest product rates
Lumber freights on the transpacific trades to rise $200 per FEU.
- Sinotrans joins IHC bulker pool
Pacific Basin's handysize venture hooks its first Chinese partner.
- Mols-Linien plunges to big loss
Lay-up costs for ferry returned from charter puts paid to profits for Danish owner.
- UK holds ships after casualty incidents
Inspectors also redetain structurally unsound bulker which is expected to go for scrap.
- Samudera widens Indian scope
Indonesian container line adds weekly service between Nhava Sheva and Persian Gulf.
- NOL returns to profit
Buoyant boxship rates revive ailing Singapore giant.
- SK Shipping probed
Financial regulator accuses Son Kil-seung of understating loss by $176m.
- Bad news is good news for Smit
Dutch salvage giant posts huge leap in profits on back of spate of casualties.
- Chernomorsky ready for sell-off
Ukrainian government to launch shipbuilder’s privatisation in 30 days.
- Christmas cancelled at Peene-Werft?
Pay cuts on cards at German shipyard - and the festive bonus could go too.
- Ezra looks to double fleet
Newly listed Singapore offshore shipping company wants 12 vessels within two years.
- Fraud row costs yard $60m
Newport News pays a stack to settle Double Eagle tanker dispute.
- Sea-Land Express refuses to shift
Salvors plan to lighter fuel oil from stranded boxship.
- Halim Mazmin sees profit dip
But Malaysian owner Halim Mohammad says improved market rates bode well for future earnings.
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| AUGUST 21, 2003 |
- OOIL sees jump in first-half profit
- Canadian conferences plan rate increases
- EDS to handle United Cargo customer calls
- Cargo facility opens at Newark airport
- N.Y.-N.J. Port Authority gives FAA formal Teterboro response
- KCS vows to fight for Mexican rail deal
- DiStasio to head USF
- FMCSA proposes hazmat safety permit program
- FMC revokes four OTI licenses
- Permanent site for future FTAA secretariat considered
- USDA implements program to aid farmers injured by foreign trade
- IES in-bond filing program to benefit container freight stations
- USDA changes nursery stock import rules
- USDA seeks better access to import regions' animal health status
- RedPrairie, Kurt Salmon combine software
- Port of Charleston posts record container volume
- North Caroline extends state ports' tax credit
- Baltimore enhances handling of paper imports
- Corps proposes increase in Class I civil penalties
- Sohar names Meijer CEO, Aziz deputy
- Panama-flag register to charge $250 for ISSC
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