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| JANUARY 29, 2003 |
Shipping News
- Marine industry expected to continue healthy growth
SINGAPORE's 'resilient' marine industry can expect ongoing growth from the offshore sector despite ever intensifying competition, according to the Economic Development Board.
- EU acts against states for taking part in US security plan
THE European Union is taking legal action against four member nations - Germany, France, the Netherlands and Belgium - for breaking ranks and signing up for the US Container Security Initiative.
- 2 ULCCs sold for use as oil storage
TWO ultra large crude carriers, the largest kind of tanker, were sold to buyers that will use them for storage rather than moving oil around the globe, management companies and brokers said.
- Average age of tankers scrapped falls to 27 years
THE average age of tankers scrapped in 2002 was 27 years, declining from the previous year, as freight rates fell in the first half and the Prestige sinking made it harder to trade old vessels, shipbroker E A Gibson said.
- Shanghai port to reform management
CHINA launched a reform package on Monday for Shanghai Harbour, the country's largest port, with the goal of increasing efficiency in port administration and management.
Air and Land Transport
- Cathay, Dragonair feud over China turf hots up
THE relationship between Hong Kong airline giant Cathay Pacific and the smaller Dragonair long seemed cozy, even nurturing.
- Lufthansa may be closer to resolving pay dispute
- Vietnam Airlines to begin non-stop flights to Paris
- Delta sued over restrictions on frequent flier miles
- Saudi Arabian Air to carry nearly 900,000 pilgrims
- S'pore, Canada close to aerospace accord
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- Ningbo hoping to improve service by moving Shanghai office
- HK, China agree to set up new immigration points in Huanggang
- Hong Kong Sea Transport Association adjusts AMS charge
- Evergreen, Lloyd Triestino & CMA CGM to co-operate on Med-Asia trade
- Edward Yau is Rotterdam's new Hong Kong representative
- APL makes more changes to top brass and company structure
- Singapore transport minister visits South Africa
- SLPA signs agreement with six leading shipping companies
- Privatised Narita Airport should have a regulator: IATA
- Cathay Pacific want ATLA hearing to end as scheduled
- Panalpina to transport Delphi equipment for three more years
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- UPS: good 4th quarter 2002 and warning 1st quarter 2003
Excluding items, UPS earned $670 million, or 59 cents a share, just beating a lowered Thomson First Call consensus analyst estimate of 57 cents a share.
- Freighter sinks after collision
The Dutch coast guard reported that the Dutch freighter Assi Euro Link had sunk on Saturday morning in the North Sea some tens of kilometres off the coast of Terschelling, after colliding with the Swedish freighter Seawheel Rhine.
- Cast new agent in Finland
Cast, the transatlantic shipping line, has appointed MTA as its agency in Finland. MTA already represents Cast in Norway, Sweden, Denmark, Poland, Lithuania, Latvia and Estonia.
- The MEX service rotation is:
Leading container lines Evergreen Marine Corporation of Taiwan, Lloyd Triestino of Italy and CMA CGM of France signed a co-operative agreement on the Mediterranean-Asia trade.
- Aer Lingus: Boeing or Airbus
Aer Lingus will pick Airbus SAS or Boeing Co to supply planes for all short-haul flights as the state-owned Irish airline seeks to cut costs.
- More lay-offs United
UAL Corp's United Airlines will lay off 704 more flight attendants, about 3 per cent of its total, next month because the world's second-largest carrier reduced flights.
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| JANUARY 29, 2003 |
- Evergreen, Lloyd Triestino & CMA-CGM to co-operate on Med-Asia trade
- CII to open Tehran office soon
- US finds fault with Indian basmati quality, stalls imports
- Dumping duty on citric acid proposed
- Karnataka to double exports by 2007
- Edible oil import bill may total Rs 12,000 cr.
- Major Ports upgrading equipment to become competitive: Vedprakash
- VPT logs 26 pc increase in container traffic - Marine products exports to touch 3,000 TEUs by March
- Visakha to get 2 RMQCs by March
- CWC makes net profit of Rs 90.22 cr
- Foreign exchange reserves up by $ 1 bn to total $ 72.4 bn
- TN gets Delhi nod to set up second AEZ
- Deposits from Gulf NRIs spurt
- DGFT hints at raising export target
- Govt may soon allow freer trade in pulses, wheat products, gur & vanaspati
- Agri products exports register 23 pc rise during April-Oct.
- Govt to prepay IBRD, ADB loans of Rs 2,803 million
- World Bank, ADB to provide Rs 2,500 cr. for road projects
- Gist of public notices/circulars/notifications - Compiled By M. Sreedharan
- Oil prices flare up
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| JANUARY 28, 2003 |
- British Airways adopts DSG-Tradevision’s Common Data Management Platform
- BASF opens huge logistics centre for chemicals
- South African Airways celebrates delivery of A340-600
- American Airlines hit by 1.1 bn pension charge
- Chilean port of Antofagasta modernises
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| JANUARY 28, 2003 |
- "Assi Euro Link" urgently marked off
- Stena charter Frontline VLCC
- Norwegian yards lay off more workers
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| JANUARY 29, 2003 |
- IACS to tighten rules after Prestige audit ‘loophole’
THE American Bureau of Shipping, during the last annual survey it carried out on the Prestige in Fujairah, did not internally inspect the two starboard ballast tanks that sustained the initial damage that ultimately led to the ship breaking in two.
- ‘Operator and P&I club refuse bail cash at their peril’
TWO leading maritime lawyers, one in the US and one in Spain, have independently urged the shipowners and P&I club of the sunken Prestige to promptly cover the steep £ 3m ($3.2m) in bail set for getting the tanker’s master out of jail.
- Baltic to shore up FFA confidence
THE Baltic Exchange has moved to shore up confidence in its route assessment data and underlined its commitment to the Forward Freight Agreement market.
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| JANUARY 28, 2003 |
- Chennai cuts vessel charges
- Industry crowds USCG security meet
- Fatal deck accident on tanker
- Career path needed: owners’ chief
- Seafarers sacked over anthrax shots
- Terminal operators feel the squeeze
- Panama judge cleared of corruption
- Queen passes medical
- Bunker spill feared in Adriatic
- Germans call for new wreck rules
- Sea change at Shanghai
- Japan to tighten ship security
- Bank takes control at Northwestern
- Finns worry over non-ice-class ship
- Bremerhaven faces car handling cuts
- E-commerce sites to merge
- Russia dismisses Swedish icebreaking
- Steel crash hits Alang breakers
- Minister backs Laem Chabang award
- NSCSA returns to profit
- Malaysia has mega plans for PTP
- Korean owners seek Algerian tie-up
- US calls up more reserve ships
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| JANUARY 28, 2003 |
- International paces UPS fourth quarter
Record overseas revenue offset weaker domestic business to help the express carrier show a modest profit increase.
- Forwarding delivers CNF turnaround
The transportation conglomerate said net income totaled $22 million in the fourth quarter, compared to a net loss of $217.1 million for the same period a year ago.
- CP Rail results beat grain woes
Cost-cutting helped offset the effects of drought on grain shipments, boosting net income by 7 percent despite a narrow drop in revenue.
- Questions remain over U.S. terror insurance
- Air-cargo portal goes live
- Shanghai port revamp aims to improve service
- SITA chief to step down
- TSA expands management team
- Marad activates military reserve ships
- BNSF, Ferromex improves transborder transit
- Bunker spill in Adriatic
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| JANUARY 28, 2003 |
- Ministry of Communications steps into China THC row
China’s Ministry of Communications is to intervene in the dispute over the controversial terminal handling charge (THC) between shippers and lines.
- MISC chartered ship held following Christmas oil spill
Australian authorities have laid charges against the Ofer Group containership Pacific Quest and its 41-year old Russian captain after a Christmas Day oil spill on the Great Barrier Reef.
- Force majeure raises its head in wake of WC deal
- GA drops China/US string over lunar New Year
- Evergreen and CMA CGM seal slot exchange deal
- Imports power Australian box boom
- Basel box boom set to continue
- Military tasked with repairing Brazilian roads
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| JANUARY 28, 2003 |
- Navigator Gas up against the wall
Firm files for chapter XI bankruptcy protection, as creditors move to block funds.
- Sinotrans on the up
Chinese group heading towards IPO armed with fat profit rise.
- Stelmar storms ahead
Figures for 2002 give boss Peter Goodfellow reason to smile.
- Russian captain to fight pollution charge
Master of Panamanian boxship accused of causing 80-kilometre oil slick off Great Barrier Reef.
- Prestige could leak for 40 years
Spain says 50,000-tonnes of oil remain onboard sunken tanker.
- Man dies in tanker deck accident
Two seriously injured while lashing deck cargo in heavy weather.
- Shreyas ship starts Myanmar box service
Indian shipowner links Haldia and Chittagong to Yangon.
- A Wilhelmsen in $106m Awilco bid
Brothers Gjert and Arne Wilhelmsen move to take listed shipping company private.
- Novoship expects profit plunge
Russian tanker owner says freight rates fell by half in 2002.
- TMM to negotiate bond swap
Mexican shipowner tries to defer payment of debt due this year and in 2006.
- ShipServ and iShipExchange join forces
Online supply platforms go global with merger to chase $1bn market.
- Hellespont talks up great white hopes
Alex Papachristidis-Bove would love a fleet of 14 ULCCs, but not just yet.
- Kogas scours market as LNG hunger bites
Shortage of product and ships threatens domestic gas supplies.
- Prisco denies Uzbek rail purchase
Russian owner’s boss Alexander Kirilichev is focusing on core business, with aframax orders in the pipeline.
- Greenpeace targets Stolt tanker
Aussie protestors halt chemical ship in protest against non-environmentally friendly fuel.
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