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| AUGUST 27, 2003 |
Shipping News
- PSA, partners set to finalise structure of Hibiki project
PSA Corporation and its Japanese consortium partners are set to finalise the shareholding structure and preliminary management set-up of a controversial Japanese container port investment this week.
- M'sia's MISC Q1 profits rise 63% to RM450m
MALAYSIA International Shipping Corp , the world's largest carrier of LNG, reported a 63 per cent jump in its fiscal first quarter profit yesterday, helped by better freight rates.
- Prestige has spilled 80% of its oil: energy firm
THE oil tanker Prestige, which broke in two and sank late last year off Spain's north-west coast, has spilled more than 80 per cent of its cargo of 77,000 tons of fuel oil, a Spanish energy company estimated on Monday.
- Profit at Daewoo Shipbuilding jumps 42% in July
DAEWOO Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder, reported a 42 per cent increase in net income last month because production was less hampered by rain than a year ago.
- Jinzhou Port's net income up 38%
JINZHOU Port Co, a northern Chinese port operator controlled by Chinese billionaire Zhang Hongwei, said its first-half profit rose 38 per cent as surging exports from China increased cargo traffic.
- China Shipping's H1 profit jumps 75%
CHINA Shipping Development Co, China's biggest oil shipper, said first-half profit rose 75 per cent after the company shipped more oil and disposed of its loss-making container shipping unit.
Air and Land Transport
- Qantas considers selling domestic airport terminals
QANTAS Airways, which reported last week its first loss in eight years, may sell its Australian airport terminals as part of an effort to cut costs.
- Airbus confirms 2003 targets
- Brazil's Varig aims to seal TAM merger deal soon
- Aeroflot's latest fleet gets a new look
- British Airways to give away two Concorde tickets
- Mitsubishi wins 2 airline contracts
Strait Talk
- A good watchkeeper should stand, not sit
TWO interesting pieces of reading matter landed on my desk last week.
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| AUGUST 27, 2003 |
- Modern Terminals buoy Wharf results
- CSX Transportation slows to worm's pace after virus
- RCL appoints new agent for Korea
- New warehouse for China's Cosa
- Singapore gets first integrated chemical logistics park
- Ports of Auckland volumes index update
- Newark Liberty gets cargo boost with new buildings
- Qatar Airways to fly to Basra
- Swiss and Kales agree GSA deal
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| AUGUST 27, 2003 |
- World’s second-biggest oil tanker may be sold for scrap - Single-hulled ULCC Sea Giant has less than two years of trading left
- Phenomenal 137 pc rise in steel exports to China
- India, Guyana sign MoU to set up chairs on contemporary studies
- US proposes stricter norms for processed food imports
- Indian graphite electrodes face EU’s anti-dumping duties
- Sudan keen to buy 3 m tonnes of Indian wheat
- Port users oppose CoPT move to hike charges, drop VDS
- Transporters’ strike affects movement at KoPT
- Vizag Port a ‘beneficiary’ of defence development projects!
- Govt planning to form separate force to look after ports’ security
- Port workers to hold rally for 20 pc bonus
- Govt yet to sign rly loan pact with ADB: Minister
- Cos can raise up to $ 50 m overseas sans RBI nod
- Jaipur jewellers may shift to SEZ next year
- RITES posts impressive turnover growth, earns Rs 100 cr. pre-tax profit
- Exports by special economic zones soar beyond Rs 10,000-cr. mark in 2002-03 - Procedural formalities stall new SEZs
- Banks likely to cut lending rates
- CII against talks on investment issues at Cancun
- Japanese keen to participate in core sector investment, says Bengal CM
- Blasts unsettle investors-Fieo
- Delhi to host developing nations’ trade ministers meet
- IMC meeting with Trade Commissioners’ Forum reps today
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| AUGUST 26, 2003 |
- Nigeria: Barges seized, arrests made in "bunkering" clamp-down
Nigerian authorities have announced several arrests and barge seizures in their efforts to clamp down on oil theft, which is known in the country as "bunkering". Illegal bunkering is thought to be fuelling the fighting between ethnic groups in the Niger Delta, providing them with funds and weapons.
- Healthy market conditions in well-supplied Suez
- Uruguay market update
- Fujairah on the rise amid high demand
All grades in the port rose today despite fall in cargo prices.
- Hong Kong demand still apparent as IFOs drop off
- Asian fuel oil market outlook still bearish for September
Fuel oil imports to Huangpu in China's biggest fuel oil consuming region of Guangdong are forecast to remain low in August and September compared to bumper imports during May and June. This means Asian fuel oil markets, which are already long on product and short on demand, may continue bearish well into September.
- Some barge congestion in Rotterdam
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| AUGUST 26, 2003 |
- Corvette order stays at five
- No drinking at sea
- Helicopter to lift hazardous cargo
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| AUGUST 26, 2003 |
- LNG terminal planned for Nova Scotia
Would take largest existing and proposed LNG tankers
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| AUGUST 25, 2003 |
- KR Cargo Volumes Hit by Uganda Coffee Crisis
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| AUGUST 27, 2003 |
- Surging rates to allow APL boost for NOL recovery
APL is set to bolster parent Neptune Orient Lines’ recovery on the back of surging liner freight rates, chief executive Ron Widdows told Lloyd’s List, writes Marcus Hand.
- Bullish Asian owners lash Europe over spill response
ASIAN shipowners have launched a stinging attack on certain European coastal states and the European Commission over their reponse to the Erika and Prestige oil spill disasters.
- Vinalines seeks go-ahead for $2bn fleet expansion
VIETNAM National Shipping Lines is seeking government approval for a $2bn expansion plan for the national fleet, writes Marcus Hand.
- Racing move is a winner for Hanjin
DECIDING to sponsor a Formula One team is proving a very smart move for Hanjin Shipping.
- Søderberg cautious on box glee
AP Møller-Maersk chief executive Jess Søderberg sounded a note of caution yesterday amid the euphoric mood now gripping the container trades, writes Janet Porter.
- Arison family in Carnival equity sale
THE Arison family is taking advantage of Carnival’s renewed share price strength to raise more than $1bn through the sale of a large slice of equity in the world’s largest cruise group, writes Tony Gray.
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| AUGUST 26, 2003 |
- AP Møller-Mærsk bullish on interims
- Sealand Express: salvage latest
- Micky Arison to sell Carnival stake
- Tasman Spirit lightering resumes
- No legionnaire's on Ocean Monarch
- Exxon Valdez case grinds on
- Van der Giessen closure confirmed
- Aker needs Philly to perform
- Anger as Antilles port paralysed
- Balearia/Matutes take on Trasmed
- Varna awaits new sale programme
- Bulker crew hid cause of fire
- Prestige extraction tests next week
- Irish Sea transfer goes to Brussels
- Euro solution preferred for HDW
- SNCM to sell off non-core assets
- Korea takes firm action on strikers
- Japan detains North Korean ferry
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| AUGUST 26, 2003 |
- Maersk Sealand paces Moller growth
Profit soars at the world's largest ocean carrier as cargo volume, freight rates jump.
- Rickmers launches scheduled breakbulk service
The German carrier is phasing nine new vessels into a liner-type, round-the-world service that will connect scheduled ports every two weeks.
- Government toughens stance in Korea
30,000 striking truckers face the loss of fuel subsidies unless they end their walkout immediately, the government warns.
- United States South Europe Conference raises rates
- Panama Canal dredging project on track
- Port of Houston wins consulting job in Venezuela
- United to resume full trans-Pacific service in September
- Report predicts modest growth in spending on enterprise technology
- Indian port expects congestion to worsen
- Six stowaways jump from barge in Boston harbor
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| AUGUST 26, 2003 |
- Cautious AP Moller reports better interims but warns against the future
AP Moller’s interim results show a marked improvement for the liners shipping division this year compared to last year with the company’s net result more than doubling.
- Smit to attempt Sealand Express re-float on next spring tide
Salvage experts attempting to save the stranded Sealand Express, which ran aground last Tuesday, will make another attempt to re-float the ship towards the end of this week.
- Truckers returning to work as strike crumbles
- Bomb blasts rock Mumbai but operations are near normal
- Australian, NSW governments finally agree rail deal
- Malaysian transport minister urges co-operation between Klang terminals
- Minister allays funding fears of minor Malaysian ports
- CH Won takes consultant's role at RCL
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| AUGUST 26, 2003 |
- Containership rebound boosts AP Moller
Massive upswing in box profits pushes earnings up at Danish giant.
- Arison to sell down Carnival stock
Sale could net founder’s family $1.1bn at today’s prices.
- Sincere Navgation on the up
Taiwanese bulker owner sees profit and revenue rise in first half of 2003.
- Flemming Jacobs takes Stena board seat
Ex-NOL boss says he's "too young to hang up his boots just yet."
- MISC profit rockets
Malaysia International Shipping Corp cashes in on strong markets and reduced costs.
- Daewoo to beef up Romanian yard
Korean shipbuilder wants share in eastern European tanker demand.
- Vietnam ups national fleet ambitions
New state plans unveiled as country tries to take greater control of shipping interests.
- EMTA cuts Israel war risk charge
Containership conference passes on reduced insurance costs to customers.
- U-Ming races ahead
Taiwanese bulker owner continues to post big profits in 2003.
- Tanker growth pays dividends for CSDC
China Shipping Development Co reports strong interim results on back of growth in crude shipments.
- Peene-Werft jobs safe until 2005
New deal for German yard workers, but Christmas bonus and holiday pay axed.
- Sinotrans soars
Shipping does its bit for recently stock-listed Chinese freight forwarder and shipowner.
- Trio line up for Tille
Three companies have shown serious interest in buying bankrupt Dutch shipbuilder.
- B&N pays for restructuring
Tough first half for loss-making Swedish dry cargo player, but better times are promised.
- BP is first into Cove Point
US’ fourth LNG terminal takes initial commercial cargo.
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| AUGUST 26, 2003 |
- IRS issues final rules on taxing foreign vessel operations
- Schubert: RRF still at top of its game
- Mediterranean-Canadian conference sets surcharge
- USSEC posts eastbound tariff increase
- Schneider Brokerage offers software to match capacity
- USDA conducts annual review of cotton promotion program
- GT Nexus, Open Harbor offer integrated compliance software
- U.S. awards $500,000 to Thailand for security initiative
- U.S. gives Indonesia $845,000 for maritime, aviation security
- Chamber of Commerce weighs in on manifest rule
- USDA presses China to drop phytosanitary restrictions on soybeans
- China amends export visa requirements for textiles, apparel
- ASA lobbies House to fund building of two Navy cargo ships
- Port of Singapore sets rules for SOLAS/ISPS compliance
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