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| SEPTEMBER 24, 2003 |
Shipping News
- Cosco Pacific H1 profit rises 5.4%
CHINA-backed Cosco Pacific Ltd reported a 5.4 per cent rise in first-half net profit on Monday as the ports operator expanded its container leasing operation, the world's fifth largest.
- PSA's Tuticorin terminal volumes up 4.3% in first qtr
PSA Corporation's key Indian venture at Tuticorin scraped together a 4.3 per cent volume growth in the first quarter of this financial year, after its loss of some box traffic in FY2002 alarmed officials.
- Oil tanker rates may rise for 7th week on Oct bookings
OIL tanker rates in the Persian Gulf may rise for a seventh week as charterers make inquiries for vessels to load crude oil in October, prompting shipowners to raise freight costs.
- Lanka Maritime says fuel deal with BP in pipeline
LANKA Maritime Services, a unit of Sri Lanka's national shipping company, said it may start buying fuel from BP plc's Singapore trading unit to supply vessels in Colombo and nearby ports.
Air and Land Transport
- S'pore air cargo sector lauds relaxed rules with Australia
SINGAPORE's air cargo industry has welcomed yesterday's air services agreement with Australia, that effectively eliminates all restrictions on freight flights between and beyond both countries except the US.
- Swiss inks deal with BA to join Oneworld
- US regulators urged to take action against jetBlue
- Passengers want 'young, pretty' female crew: MAS
- Heathrow Express faces strikes next month
- Delta Air Lines launches fare sale, others match
Strait Talk
- Hard bargaining ahead on new pay deal for seafarers
AS you read this, a meeting should be underway in Cyprus that is part of the process of thrashing out a new international wage bargaining system for shipping.
Port Shots
- Port Shots
THE ports unit of Hong Kong conglomerate Hutchison Whampoa is in talks to boost its investment in the Chinese port of Ningbo, The Standard newspaper reported.
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| SEPTEMBER 24, 2003 |
- 20 hurt in ship collision at Chittagong Port
- Royal Caribbean builds biggest cruiser Ultra Voyager
- GAC India celebrates 20th anniversary with a new strategy
- OEL launches Mundra-Jebel Ali feeder service
- WTO upholds India’s case against EU: Textile sops to Pak
- Palmolein import duty hike likely
- US now main source of capital goods for India
- m.v. Tiger Bridge given warm welcome at VCT
- Cargo traffic at Indian ports may touch 979 m tonnes in 2011-12: Study
- JN Port touches 1-million TEU mark within first half of current fiscal
- 4 dedicated Conraj rakes inducted into ICD-Sabarmati-JNP circuit
- P. S. Krishnan elected new FFFAI Chairman
- Textile bank on anvil: Minister
- Credit card facilities for artisans mooted
- Forex reserves touch $ 87.856 bn
- Hike synthetic textile export quota for US: SRTEPC chief
- Stabilise prices or face controls, govt tells steel manufacturers
- Tea planters’ body wants Nilgiris notified as special economic zone
- India pips UK, Brazil for 6th slot: FDI confidence report
- Inflation rate rises to 4.29 pc
- IA showcases Sharjah as holiday destination
- AIAI interactive seminar on power sector today
- Plastics export award function on Sept. 26
- Ficci to organise meet on taxation
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| SEPTEMBER 23, 2003 |
- East Coast markets steady amid good avails
- Crude rebounds as market looks near short-term bottom
After a month-long sharp downward movement in crude oil prices, with only the occasional correction higher, oil futures are beginning to look cheap relative to fundamentals. If speculators, once long - now short, resume buying, this could set the scene for a rebound from current levels.
- Egypt steady, good avails return to Port Said
- OPEC meeting: Quota allocations up for discussion
- Fujairah market waits on cargo rise
- Hong Kong numbers slip back as recent demand dries avails
- OPEC meet outcome seems settled as OPEC basket trades mid-range
It would come as a huge surprise to the world oil market if OPEC's meeting in Vienna tomorrow decided to change the current official production quota.
- Rotterdam firms with crude and barges
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| SEPTEMBER 23, 2003 |
- Rederi AB Gotland wants out from the stock exchange
- Ola Lorentzon quits Frontline
- Olav Fjell fired from Statoil
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| SEPTEMBER 23, 2003 |
- Conferees approve multi-year sub procurement
But it's for five Virginia Class submarines, not seven
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| SEPTEMBER 24, 2003 |
- Lorentzon bids Frontline farewell
FRONTLINE managing director Ola Lorentzon (left) is to stand down from the world’s number one tanker operator just weeks after plans were floated in New York to split the company, writes Jerry Frank.
- Statoil loses its head as Fjell falls on sword
OLAV Fjell lost his battle to survive yesterday as boss of oil and gas giant Statoil.
- European Parliament backs Prestige accident committee
TEN months after the event and despite two earlier rejections, the European Parliament yesterday voted overwhelmingly in favour of establishing a temporary committee to investigate the causes and consequences of the Prestige disaster.
- Inside world of Lloyd’s goes online
LLOYD’S is putting its inner workings online, writes James Brewer.
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| SEPTEMBER 23, 2003 |
- Tsakos warns on dash for tonnage
NIKOLAOS Tsakos, president of Tsakos Energy Navigation, has cautioned against the current race for new tonnage and warned today that the number of newbuildings scheduled for delivery could destabilise the entire industry
- Balearia talks up competition
COMPETITION between Spanish ferry operators is mounting after Balearia said today it would use the fast ferry Ramon Llull to launch a new service on 21 October
- De Palacio scolds member states
LOYOLA de Palacio, the EU transport commissioner, has hit out at the lack of political will within European member states to find solutions to deal with maritime disasters
- Danube low strands newbuildings
A NUMBER of newbuildings under construction at shipyards on the banks of the river Danube are stranded by low water levels
- Overheated bulker scuttled
A BULKER drifting off Reunion Island in the Indian Ocean since last week was scuttled by the French Navy yesterday
- Tsavliris claims $2.5M from KPT
GREEK salvor Tsavliris is claiming $2.5M in damages from Karachi Port Trust for the illegal detention of Sea Angel, which was used in the lightering of Tasman Spirit
- Rising rates on lowering Rhine
- Vopak sells Chemgas to Jaegers
- Algerian link goes private
- Frontline MD Lorentzon to retire
- Iran slashes marine charges
- Indian tonnage tax from April 2004
- Statoil's Irangate claims third
- Aqaba charges rise again
- PTP and PSA 'can co-operate'
- Alstom rescue plan agreed
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| SEPTEMBER 23, 2003 |
- Cosco revamps logistics structure
The Hong Kong unit of China Ocean Shipping (Group) Co., is moving into logistics with the purchase of 49 percent of Cosco Logistics Co. from its parent for $142 million.
- Swiss opts for Oneworld alliance
Swiss International Air Lines said it will join the Oneworld global alliance in a move that will shrink its fleet by a third and pare 25 percent of its flight network.
- Traffic resumes at Bangladesh port
The Port of Chittagong resumed operations Monday after a collision between two container ships halted operations over the weekend.
- Insurer: More Europe port strikes to come
- UPS launches package-flow technology
- Railroads should adopt scheduled ops: CPR
- FedEx Ground opens Chicago terminal
- BAX Global opens Greek office
- Canadian port gets box scanner
- Menlo to offer stand-alone software
- Corrigan named Aus. VP at Savino del Bene
- Frontline's Lorentzen retires
- Atlanta cargo services expanding
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| SEPTEMBER 23, 2003 |
- New hope in Canadian West Coast talks as union mulls latest offer
Union officials plan to respond Thursday to a new comprehensive package offered by waterfront foremen employers to end a lengthy labour dispute on Canada's west coast.
- Lines ponder Busan departure in spite of dockers productivity increase
Busan dockers are raising productivity by as much as 98.4% in response to the carnage left by Typhoon Maemi, but a survey reveals 53% of lines may still leave.
- Chittagong re-opens following Eagle Strength crash
- Rail users must compete for UK budget
- Chinese ports courted by foreign investors
- OT Africa Line launches Luanda shuttle
- Cosco Pacific buys US$143m stake in Cosco Logistics
- Lille expansion doubles tri-modal terminal area
- New HK terminals will end high THC’s, says Sir Gordon Wu
- CIMC’s launches world’s largest dry container facility
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| SEPTEMBER 23, 2003 |
- Fredriksen gives soccer club the boot
Tanker owner severs ties with Vaalerenga.
- Cruise hoax leads to prison sentence
Two years' jail-time for pining girlfriend.
- OSG divvies up
Owner pays out second dividend at new, higher rate.
- No candy for NKK
US court finds society guilty of botching fast ferry survey.
- Europe to set up Prestige investigation
European Parliament does U-turn on plans to set up temporary investigative commission.
- Cormo Express sheep "comfortable"
Only 4,256 animals so far dead on Vroon cruise to nowhere.
- Pakistan advised to up spill protection
UN report details environmental fallout from Tasman Spirit break-up.
- DRI claims Adamandas
Pacific & Atlantic bulker is latest victim of hazardous direct reduced iron cargo.
- Analyst declares RCL a "sell"
More revisions as cruise stocks show signs of overheating.
- Karahasan arrest goes to court
Turkish owner fails to reach deal with HSH Nordbank over US detention.
- Explosives sink Adamandas
French navy experts scuttle "dangerous" Pacific & Atlantic bulker.
- Frontline MD to retire
Ola Lorentzon (right) steps down as Oscar Spieler takes top tanker management role.
- Alstom will need to restructure
French engineering giant says rationalisation needed for European shipyard industry.
- Statoil CEO resigns
Olav Fjell (left) follows Leif Terje Loddesol as company fights to save face.
- Greek bulker to be scuttled
Reunion authorities order damaged Pacific & Atlantic vessel to sea.
- Aussies propose maritime security bill
Government has introduced new legislation linked to the IMO's ISPFS code.
- Micky makes Forbes 400
Carnival colossus is among the top 400 richest people in America. Thirty-ninth to be precise.
- Bandar Abbas set for congestion charges
Extreme delays at Iranian port have prompted container conference to implement delay surcharges.
- Hornbeck back at equity table
Louisiana-based offshore vessel operator re-instigates plans to take company public.
- OOCL investors approve share buyback
Minority shareholders in Hong Kong liner group give green light to buyback of Li Ka-shing stake.
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| SEPTEMBER 23, 2003 |
- Delmas, OTAL start new Angola shuttle service
- Med Shipping adds Naples to Asia/Mediterranean service
- BIMCO signs anti-drug smuggling agreement with Cypriot customs
- Ship collision in Singapore Strait caused minor oil spill
- New Maersk service links New Orleans, Progreso
- MOL (China) opens office in Qingdao
- American Salvage Association names officers
- Kuehne & Nagel opens logistics center at Frankfurt airport
- Integres acquires Key Transportation Services
- Menlo Worldwide Technologies offers standalone software
- Saddle Creek names Cook marketing and sales director
- USCO issues "white paper" on network optimization
- MIT to develop logistics program in Zaragoza, Spain
- Savannah’s container volume continues double-digit growth
- Qingdao port volumes up
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