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| JUNE 25, 2003 |
Shipping News
- Criminal charges filed against vessel, crew
GREECE has filed criminal charges against seven crew members of the Baltic Sky, and its owners after the vessel was seized on Sunday carrying 680 tonnes of explosives and 8,000 detonators.
- Greenpeace gets the boot from IMO
ENVIRONMENTAL champion Greenpeace International has been given the boot from the International Maritime Organisation during the IMO Council's recent 90th session.
- Inchcape Shipping sends 1st support vessel to Iraq
THE race is on to capture a slice of the first commercial business at Iraq's port of Umm Qasr, despite hiccups within the first week of its opening.
- Rescued from a watery grave
A two-month salvage operation to retrieve sunken Indonesian container ship Tirta Mas wrapped up last week, when Smit Salvage returned the wreck to its owners.
- China shipbuilders emerge as threat to Korea, Japan
CHINESE shipbuilders have been making strides in the global market, setting alarm bells ringing in Korea and Japan, according to industry sources.
Air and Land Transport
- Cathay, Dragonair hope to restore all flights by Sept
HONG Kong's two main carriers Cathay Pacific and Dragonair, said on Monday that they hoped to resume all flights by the end of September, after the World Health Organisation declared the territory free of Sars.
- Korean Air to offer extra flights
- Swiss Int'l cutting 3,000 job as losses increase
- Boeing CEO not optimistic about market
- 27 on MAS flight hurt in turbulence
- Branson seeks meeting with BA on Concorde
Strait Talk
- Getting elected was the easy bit for the new IMO chief
AS elections go the result of the one that last week electing Efthimios Mitropoulos of Greece as the new secretary-general of the International Maritime Organisation was fairly clear-cut.
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| JUNE 25, 2003 |
- Haffa elects Victor Mok to second term
- Portland gets US$510,000 security grant for T-6
- Japan exports, imports up year on year for May
- Mislabelling causes China shipment to go astray
- New Qingdao link
- Call for donations
- Cargo figures soar at NY/NJ
- P&O Nedlloyd opens first inland hub
- IOC, Schenker sign long-term supply agreement
- Dragonair cargo hits highs as passenger numbers slump
- Air China's first Boeing 737-700 heads home
- Moody's downgrades SAS credit rating
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| JUNE 25, 2003 |
- Pisces Container Lines begins operations from Kandla
- Hind Shipyard, MoS sign MoU
- MOL launches EuroGalex-a new direct service from India to Europe
- MacAndrews enters India-Europe trade
- India signs trade pact with Mercosur
- Exporters’ competitive edge blunted by rising rupee, notes Commerce Ministry’s Economic Division
- Gem, jewellery exports set to cross $ 10 bn in 2003-04
- Georgia purchases Indian sugar
- Ficci signs two MoUs in China
- India, China to trade via Sikkim border
- Vizag Port bestowed ISO 9001:2000 certification - 2nd Major Port in India to be granted coveted quality accreditation
- IMC Group may widen scope of activities to cover port-based infrastructure projects - Expansion of bulk liquid storage capacities planned
- Visakha Container Terminal inauguration tomorrow - VPT
- Another Jet on Delhi-Srinagar route from July
- Global supply chain solution providers testing Indian waters
- Move to bring synthetic fibre industry under TUF scheme
- Drug, pesticide cos to be refunded part of fees paid for registration abroad
- China to invest $ 500 m in India’s infrastructure sector projects
- CII organises meet with UAE Chief of Staff
- Indian textile exhibition opens in Morocco
- Fieo to organise international congress on trade in services next year
- Precautions to take in the Dragon’s den
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| JUNE 24, 2003 |
- BP economist expects $20 crude
Oil major BP Amoco's chief economist Peter Davies expects that the average oil price will fall to $20 per barrel from a $25 average over the past 2 years.
- Panama busy, Balboa still tight
- All Fujairah eyes on US inventory figures
Fujairah numbers have been fairly static today, with demand levels on the muted side also.
- Suez market strong amid heavy demand
- Firm trend boosts demand in Istanbul
- Expensive Hong Kong stuck in the doldrums
- IEA head says OPEC's $25 price target is too high
IEA's Mandil says OPEC's target price of $25 is a little too high to encourage growth in the global economy, and ultimately it is not good for OPEC either because it leads to loss of market share for the producer group.
- Anticipated US stock build keeps oil prices in check
- Rotterdam: IFOs a tad softer this morning
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| JUNE 24, 2003 |
- Third generation of founding family joins Maersk board
- Spin-off of CMB's gas shipping and offshore arm approved
- Swiss to axe three thousand jobs
- CPR acquires 600 High-Capacity Lumber Cars
- CTW takes over Transport Union
- Exel launches new brand in China
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| JUNE 24, 2003 |
- Intertanko concern about Italian decree
- Norway fears harsh US security demands
- Aker Kvaerner problem in Philadelphia
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| JUNE 24, 2003 |
- Costs of Kvaerner Philadelphia box ship mount
Costs of the first containership from Kvaerner Philadelphia will be about $28 million higher than reported--and delivery has been pushed back by a month
- Kvichak partners Manitowoc on RB-M bid
Manitowoc's entry in the Response Boat Medium stakes will be built by Kvichak Marine Industries
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| JUNE 25, 2003 |
- Sudan slams Sky seizure
SUDAN yesterday condemned Greece’s seizure of the explosives ship Baltic Sky, claiming it was legal and had been ordered by one of its nationals, writes David Osler.
- Knightsbridge nosedives as Shell quits VLCC charters
Knightsbridge Tankers, one of shipping’s great adventures in the equity markets, could be facing liquidation following Shell’s decision not to extend charters on the company’s five VLCCs.
- Europe-Asia box imbalances grow as the euro strengthens
HUGE equipment imbalances in the Europe-Asia container trades are set to worsen as the euro strengthens, adding to already skyhigh repositioning costs for ocean carriers.
- Trio adds new capacity to booming Asia trade route
CMA CGM, APL and Norasia are the latest container lines to add more capacity on to the booming Asia-Europe trade corridor, writes Janet Porter.
- South Korea blocks Brussels request for WTO dispute panel
SOUTH Korea yesterday blocked a request by the European Union calling for the establishment of a World Trade Organisation dispute panel to examine its complaint that alleges Seoul has provided, and continues to provide, its shipbuilding industry with subsidies that breach global rules, writes John Zarocostas.
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| JUNE 24, 2003 |
- Heat rises on UK taxation
- Eighth Norway death
- Owner fined for dumping
- UK taxation status still on agenda
- Sweet dilemma for Pakistan
- Smit swallows Belgian salvor
- US visa need over-rides ILO card
- Shipping gives way to whales
- India's ONGC to buy ships
- Indemnity insurance for Japan
- UAE warns over prior permission
- Umm Qasr fire spreads
- Strong opening for Med ferry link
- Primorsk election battleground
- Sohmen's Bergesen to delist
- Berlin may block yard co-operation
- Philadelphia ships delayed
- Umm Qasr stable again after looting
- Ferry call to Japan cancelled again
- Malaysia names transport minister
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| JUNE 24, 2003 |
- No room? Capacity available in eastbound Pacific, says shippers' rep
Contrary to what U.S. importers are hearing from shipping lines, there is still capacity available on eastbound Pacific routes, trimming some rates.
- Bonner: 100% box checks 'foolish'
The U.S. Customs chief said critics should not expect physical inspection of all 7 million containers that enter the country each year.
- West Coast terminals get approval for discussion agreement
- FedEx net jumps 19%
- Hong Kong tightens ship inspections
- New rules frustrate Canadian traders
- Cargo hit as Swiss cuts jobs, planes
- Bangladesh to amend cargo preference law
- Alitalia Cargo starts Calcutta service
- Maersk Air chooses Kuehne & Nagel
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| JUNE 24, 2003 |
- PONL targets Asia/Europe rates 'above last market peak'
As Asia/Europe market conditions swing in favour of the carriers, P&O Nedlloyd (PONL) has told shippers: ‘We need to push rates up higher than they were at the last market peak.’
- S.Korea, Japan fight boxship loading capacity restrictions
South Korea’s Ministry of Maritime Affairs and Fisheries (MOMAF) said today that South Korea and Japan intend to block tougher restrictions on containership loading levels at the International Maritime Organisation (IMO).
- US Coast Guard wins approval for new security rules
- New Asia/Europe loop keeps GA's Gioia Tauro hub 'for now'
- Eurogate shuttle to link Bremerhaven, Hamburg terminals
- New tonnage joins East/Asia Australia ACE
- Police investigate Melbourne docker's death
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| JUNE 24, 2003 |
- Stena group in red for first quarter
Shipping division sees nice turnaround from early-2002 while ferries falter.
- Shell opts to ditch Knightsbridge VLCCs
Shareholders to decide on future for five mid 1990s-built.
- Hyman hailed as man of principle
Outgoing OSG leader said to leave company in strong position.
- Knightsbridge loss hits Frontline
End of Shell charters will cost top tanker owner $750,000 a year.
- Knightsbridge tankers could be hot property
Brokers say the five VLCCs could be worth up to $250m in total on the S&P market.
- Smit buys URS
Dutch salvor gains control of Tricolor wreck removal partner.
- Baltic Sky sistership held in Antwerp
Crew of Baltic Star knew of owner's problems with explosives cargo.
- Cost over-run hits Aker Kvaerner
Problems with Matson containerships order push shipyards into the red.
- Cargoship sinking in Indian Ocean
US navy supply boat attempting rescue of 27 crew in rough weather.
- Greece charges Baltic Sky crew
Seafarers could face five to twenty years in jail for transporting explosives.
- K Line punts secondhand VLCC
But brokers ask has market for single hull ships come off the boil?
- Chen replaced at Yang Ming
Former president Frank Lu is back in the hot seat at Taiwanese liner operator.
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