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| DECEMBER 1, 2004 |
Shipping News
- Shiprepair event moving from London to Dubai
THE annual Shiprepair and Conversion Conference and Exhibition, which was held at London's Olympia last week, is moving to Dubai next year, the organisers have announced.
- Bulk rates rise again to near-record highs
PANAMAX dry bulk rates rose this week to stand more than a third above their levels a year ago, driven by voracious demand in China and across Asia for iron ore and grains before Christmas, brokers said yesterday.
- Clogged Russian ports slow oil, coal exports
OAO Russian Railways, the country's rail monopoly, said a backlog at Russian ports worsened, slowing oil and coal exports.
Strait Talk
- Classification societies seek liability limits
A couple of weeks ago, a senior figure in the marine mutual liability insurance industry, confided to The Business Times that he was worried the delicately balanced system that has evolved within the shipping industry to take responsibility and cover liability when things go wrong, is in danger of falling apart.
Port Shots
- Icebreaker being built catches fire in Russia
AN atomic icebreaker that has been under construction for 15 years caught fire yesterday at the Baltiysky shipbuilding plant in this northern Russian port.
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| DECEMBER 1, 2004 |
- Cooperation increases in Pan-PRD region
- Dalian Port provides one-stop customs clearance service
- MOL, APL launch new South American service
- Singapore, S Korea move closer to signing FTA
- S Korean shipbuilders expected to be cleared on subsidy claims
- MISC H1 profits surge 63 pc
- IMO looks into goal-based standards for newbuilds
- Damco obtains Class A licence
- US Bay Area airports vie for first cargo route to China
- Continental to launch new Houston-Texas service
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| DECEMBER 1, 2004 |
- FPU urges TAMP to review stand on levy of ground rent charges on abandoned boxes
- J.M. Baxi & Co. shortlisted for Dubai International Maritime Awards
- Development of navigational aids to be important component of new maritime policy, avers Baalu
- PLL to float bonds to finance Dahej terminal, prepay debt
- China’s interest rate hike may adversely impact commodity trade, shipping operators in India
- French export body chief to study Indian market
- India to focus on increasing exports to Latin American countries
- Exports to Pakistan up by 328 pc in Q1
- Court orders stall Ennore multi-user coal terminal project
- Vizag Customs now fully computerised
- Sai Freight skilfully discharges massive Stinger unit
- Import module system of Customs EDI inaugurated at CFS-Mulund
- CWC pays Rs 2.25 crore dividend to gov
- 85 articles removed from reserved SSI list
- MoS to seek Cabinet nod for sale of CIWTC
- Pvt. participation vital for infrastructure projects, says FM
- Refined vegoil exempt from excise duty, says SC
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| NOVEMBER 30, 2004 |
- Europe-Asia arbitrage charter rates soar over $10m
Freight rates soaring but arbitrage bookings continue amid glut of European high sulphur fuel oil.
- FAMM launches new external website
- Panama: Public bid likely for ailing APSA terminal
APSA's alleged breach of contract and lack of investment in bunker-supply terminal paves way for public bid for terminal concession, sources tell Bunkerworld.
- Rotterdam barge market sharply lower as crude eases
Softer crude contributes to rapid fall in Rotterdam's trade market for fuel oil, but barge loading delays persist at major terminal.
- London broker sets up own company
Broker hopes to build business drawing on more than 20 years of experience in the maritime and bunkering industries.
- Legal bunkering could become a $3.5 billion business in Nigeria
Nigeria's economy could gain billions in revenue from a legitimate, standardised bunker industry, says shipowners association. The country's suppliers are less hopeful.
- Some players sidelined in Fujairah until resupply
Busy barge schedules or lack of product is keeping prompt supply opportunities limited to one or two suppliers.
- Resupply makes little difference to Hong Kong spot avails
Suppliers seeing the cycle of heavily committed resupply continuing for the rest of the month.
- New automatic viscosity control system launched
New automatic viscosity control system launched to optimise engine performance and efficient fuel combustion.
- Singapore sales top 2 million mt for second month
Bunker sales volumes for October in the world's largest bunker market exceeded two million metric tonnes (mt) for the second consecutive month.
- Rotterdam little changed amid continued congestion
- Oil prices jump on winter worries, Norway outage
Oil prices jump in London and New York as a gas leak closed a large Norwegian North Sea oil field amid fears of a colder-than-normal US winter
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| NOVEMBER 30, 2004 |
- KarstadtQuelle to sell logistics next year
- BNSF: new personalised web page
- Austria: less money for the infrastructure
- Davies Turner UK partners Cargolog Weiss in Bulgaria
- Swissport to commence freight operations in Budapest
- Maersk Sealand restarts Ivory Coast services
- Loyola de Palacio IRF Woman of the Year
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| NOVEMBER 30, 2004 |
- Norden reaps benefit of strong markets
- Busy session ahead for MSC
- Weak quarter for Golar
- Baltic Container Terminal secures expansion funds
- Camillo Eitzen bids for Sigloo Gas
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| NOVEMBER 30, 2004 |
- Goal-based ship construction standards on IMO MSC agenda
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| DECEMBER 1, 2004 |
- Singapore port buys big stake in rival Hong Kong terminal
SINGAPORE terminal operator PSA International has broken into the rival port of Hong Kong paying a hefty price for a 57% stake in Asia Container Terminals.
- Teh succeeds with ACT stake
THE buy into ACT represents one of the few successes in terms of international acquisitions for PSA chief executive Eddie Teh since he was hired by PSA two years ago, writes Marcus Hand and Sam Chambers.
- Eitzen bids for other 60% of Sigloo Gas
EXPANSIVE Norwegian shipowner Camillo Eitzen has launched an offer for the remaining 60% of Sigloo Gas KS outside its control following its purchase earlier this year of the small carrier fleet from Norwegian shipping group Bergesen, writes Jerry Frank.
- Sovcomflot/NYK in LNG plan
The liquefied natural gas shipping joint venture between Russia Sovcomflot and Japan’s NYK aims to double the number of vessels under its control during the next five years.
- European insurance buyers plan inquiries into brokers’ pay
BIG European buyers of insurance plan to intervene in the international imbroglio over the way that brokers are paid.
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| NOVEMBER 30, 2004 |
- Stena to focus on ice training
A looming shortage of ice-trained tanker personnel has forced Sweden’s Stena Bulk to restrict training at its Northern Marine sea school in Glasgow to ice personnel only
- Athos spill disrupts oil supplies
GASOLINE futures spiked this morning in US trading as fears grew that Delaware River refineries will soon run dry as a result of the Athos I incident
- Norwegians in India for officers
- Box handler to set up minor port
- Beware of ice, warns lawyer
- Itaqui issues grain terminal tender
- Lauritzen Cool in logistics venture
- Bulker aground in Lake Michigan
- Moscow to fully privatise Fesco
- Prestige report: detention unjust
- Prestige report: recommendations
- Training allegation 'lacks merit'
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| NOVEMBER 30, 2004 |
- Box charter rates scale new highs
Containership charter rates are set to climb even higher as carriers compete for a fast-shrinking supply of vessels to keep pace with buoyant cargo growth on key liner trade routes.
- 'Case-by-case' moves after Del. spill
Coast Guard frees up some lower river traffic as probers finds second gash in leaking oil tanker.
- Ridge resigns as Homeland Security chief
- ILA keeps working at Charleston
- Hutchison to develop Mexico container port
- Shipping season ends on Upper Mississippi
- APL, MOL expand S. America services
- Crowley adds Virgin Islands capacity
- Australia, New Zealand eye ASEAN pact
- PSA takes majority stake in Hong Kong terminal
- KCS gets approval to control Mexrail
- ASEAN, Japan team up on maritime terror
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| NOVEMBER 30, 2004 |
- PSA secures Kwai Chung foothold
PSA Corp of Singapore will acquire a 57% stake of Asia Container Terminals (ACT) in Kwai Chung from Hong Kong’s giant property developer Sun Hung Kai Properties (SHKP).
- APL and MOL to launch joint S America service
- Yang Ming and SITC agreed to swap slot
- Russia and Ukraine eye unite to upgrade river ships
- Tumbling dollar gives rise to Canadian surcharges
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| NOVEMBER 30, 2004 |
- Search still on for Philly hazard
Environmental officials proclaim "catastrophe" in Tsakos tanker spill.
- Euronav mulls Asian deals
CMB divorce may trigger move to create "acquisition currency" through listing on Far East exchange.
- Sovcomflot eyes LNG growth
Russian owner wants to double its LNG carrier fleet in next five years as it courts Gazprom business.
- OMI takes back more shares
Connecticut tanker owner prices $225m bond issue at 2.875% rate.
- Belarus moves into Klaipeda
Land-locked nation wants to create merchant fleet based in Lithuanian port.
- Baosteel on COA spree
China’s biggest steelmaker is tying up huge long term deals to transport raw materials with the likes of Kleimar, Zodiac, NYK, MOL and Cosco.
- Incat posts profit
But yard continues to struggle as order drought persists.
- Hyproc raises sights
The shipping arm of Algerian state oil company Sonatrach wants more tankers and gas ships.
- Odfjell okays NOK 130m payout
EGM approves interim dividend and two-for-one stock split.
- Eitzen bids to take over Sigloo
Norwegian owner makes offer for remaining 60% of seven-ship gas fleet.
- KSINC steps up tourist drive
Indian ferry owner revamps old ship to draw in wealthy domestic customers.
- Fesco on the block
Russian state to offer 20% of shipowner at auction by end of the year.
- Singapore sets bunker record
Lion Republic sees highest level of monthly sales in September since records began in 1999.
- Second terminal for Mombasa
Kenyan government to spend $98m on new containership facility to ease congestion.
- Bulker grounds in Great Lakes
Loaded Greek-flagged handysize bulker runs into trouble in northern US-Canada inland waterway.
- Rumpus on Sydney ferry
Engineer and master dispute use of single engine at Balmain docks.
- MOL and APL team up
Japanese and Singapore liner operators to launch new South American west coast service early next year.
- Bangladesh calls in air force
Chittagong port officials have asked for coastal air patrols to help combat piracy threat to shipping.
- TTA gets Century Sea early
Unexpected windfall for Thai owner as it takes delivery of secondhand handymax ahead of schedule.
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| NOVEMBER 30, 2004 |
- Asia/Canada carriers agree rate increases for 2005
- IMO to review maritime security
- Lloyd Triestino provides ship in Med/U.S. service
- APL, MOL to start Panama/West Coast South America link
- Europe/West Africa confirm southbound rate increases
- Divers find 6-foot gash in tanker that caused Delaware River oil spill
- ABX Air provides airlift to USPS
- NACA reshuffles senior management
- "K" Line Air Service opens Shenzhen forwarding company
- WTO allows $150 million U.S. sanctions over Byrd Amendment
- Canadian government moves to formalize border security agency
- Kellogg CEO named to head U.S. Commerce Department
- Iridium posts 9-month growth in revenue, subscribers
- Privatized Malta terminal sees further growth
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| NOVEMBER 30, 2004 |
- Leading banks declare Arlington share options
The banks leading the introduction of the Arlington Tankers share on the New York Stock Exchange have declared their share ...
- Record high profit for D/S "Norden"
Dampskibssselskabet "Norden" showed a new record with its the third quarter result. A profit of USD 198.7 million (EUR 149.9 ...
- Norwegian energy company takes Northern Oil
The Norwegian controlled energy company Naturgass AS has bought John Fredriksen’s share of Northern Oil to build a big quoted ...
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