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| AUGUST 4, 2004 |
Shipping News
- Portek ventures into Algerian project
IN its boldest foray to date, mainboard-listed Portek International Ltd has embarked on a US$17 million joint venture container terminal project in Algeria, to be followed by a related move into inland logistics and other ports.
- APL signs Indian rail freight deal
NEPTUNE Orient Lines' liner division APL announced yesterday it has established a joint venture with the Container Corporation of India to build and operate a container rail freight station and container yard near New Delhi.
Air and Land Transport
- Ryanair to suspend fuel hedging, expects price fall
RYANAIR Holdings plc, Europe's largest low-cost airline, said it plans to suspend a programme that locks in fuel costs, expecting that oil prices will decline from record highs.
- SAS Norwegian unit raises fares by up to 35%
- UAL Corp H1 pension costs slide
- Germany's DBA set for IPO in 2-3 years
- Air travel recovery boosts Amadeus Q2 profits by 48%
- Log Book
Strait Talk
- It's high time IMO acted on lean bridge manning
IT is one of the facts of modern life that before you can persuade a bureaucracy to do something, you need to be able to prove your case in a properly researched study, even if the case to be proved is blatantly obvious to all.
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| AUGUST 4, 2004 |
- Guangxi-Guangdong feeder embarks on maiden voyage
- KMTC dreams of leading intra-Asia container shipping market
- Container demand for 2006 unclear, says MOL chairman
- Our container business is not profitable enough: K Line chief
- Port of Hamburg records growth in first half
- Baiyun International Airport set to open
- SIA launches direct service to Ahmedabad, India
- New logistics centre to be sited near new Baiyun Airport
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| AUGUST 4, 2004 |
- ONGC awaits govt sanction to test shipping waters
- Essar Shipping income up by 38.3 pc
- OSL acquires brand new reefer containers
- Elated by tonnage tax regime, shipping industry on expansion spree
- Asia told to invest in ports to cope with trade growth
- India claims victory in WTO deal on agriculture
- Vizhinjam box terminal bidding date extended to Oct. 15
- DCM Hyundai exports 40-ft high cube containers to LMT
- CBEC invites views, comments on boric acid imports
- CII lauds Kamal Nath’s role
- India will overcome, says MPEDA chief
- CBDT likely to get 3 new members
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| AUGUST 3, 2004 |
- Transbunker outlines plans for $20m bunker terminal
Russian logistics and transportation group targets storage for up to 30% of St.Petersburg bunker market with terminal plans.
- Crude, gasoil, at new records after OPEC comments
New oil price record after OPEC president says cartel can do no more to ease 'crazy' market, but Saudi officials beg to differ.
- Buyers still keen in bullish Fujairah market
- Hong Kong resupply not expected to alleviate avails problems
Demand continues to outstrip supply despite firm market.
- Managing Director to leave Singapore player
- LG-Caltex plant operations return to normal
Two-week strike draws to a close with return to near 90% capacity at 650,000 bpd Yosu refinery.
- Spain: 'ABS subsidiaries had concerns over Prestige'
Spanish government revises $1 billion claim against US classification society ABS, citing subsidiaries' surveys and fax from former master expressing concerns over vessel's structural integrity.
- SIBCON 2004: Bunkering trends & challenges for the next 2 years
- Rotterdam still steady to firm
- New bunkering company formed in Singapore
New company formed by ex-MOBCO and Triton employees.
- Singapore: Accreditation applications reach 88%
Suppliers have until May, 2005 to meet the requirements set out by the accreditation scheme... All suppliers must be accredited before they will be given a new license for delivering bunker fuel.
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| AUGUST 3, 2004 |
- Dohmen Solutions presents new internet portal
- Confrontation continues on Brenner toll
- Panalpina moves to logistics centre near Chicago O'Hare
- Lithuanian rail container traffic Kaliningrad - Moscow
- Air Charter Service getting aid to Sudan crisis region
- Container inspection upgraded at Australian ports
- Robert W. Castro promoted to Columbia group CFO
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| AUGUST 3, 2004 |
- Finnlines’ "modest" expectations
- Knightsbridge Tankers
- Wilhelmsen’s best ever quarter
- Odfjell’s strong first half
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| AUGUST 3, 2004 |
- Navy certification for GE's LM2500+
- Margins squeezed in Manitowoc's marine sector
- Hornbeck orders tank barge
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| AUGUST 4, 2004 |
- Royal Dutch/Shell faces a corporate revamp
A MAJOR shake-up could be on the way for the corporate structure of Royal Dutch/Shell after shareholders called for a unified board at the Anglo-Dutch oil major.
- Temasek makes surprise offer for NOL
THE Singapore government’s investment arm, Temasek Holdings, yesterday launched a mandatory takeover offer for Neptune Orient Lines, valuing the container and logistics giant at S$4.03bn (US$2.3bn).
- Fredriksen stamps seal of disapproval on takeover bid
TANKER magnate John Fredriksen gave a powerful vote of confidence to container shipping yesterday as Temasek’s bid for Neptune Orient Lines was dismissed as derisory.
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| AUGUST 3, 2004 |
- Temasek wants to buy back NOL
SINGAPORE government holding company Temasek Holdings, the majority shareholder of Neptune Orient Line (NOL), has offered to buy back the entire stock of the listed shipping company with a total offer of S$2.8Bn ($11.6Bn)
- PDV Marina ready for Argentine repairs
PDVSA's tanker subsidiary PDV Marina has signed a memorandum of understanding with Argentine shipyard Astilleros Rio Santiago to repair and build new tankers
- NVOs take case to FMC
NVOCCs are expected to file a joint petition today with the US Federal Maritime Commission demanding the right to negotiate confidential agreements with shippers
- Superferry 14 salvage completed
SALVAGE of Superferry 14 has been completed after it was towed to the dock of a private shipyard in the Philippines last week
- Spirit of Ontario victim of hoax
A BOMB threat was found aboard the Great Lakes fast ferry Spirit of Ontario on 1 August, but was determined to be a hoax
- Have your say – how to tackle piracy
DESPITE the political focus on the global ‘war of terror’, pirates remain the biggest security threat to shipping
- SA to export 18Mt of coal to Thailand
- St Petersburg suffers cargo shift
- Pelotas re-opened to deepsea ships
- Pakistan rejects wheat import bids
- MSC Faces Antwerp congestion
- NZ ferries fight speed restriction
- Noumea strike back and spreading
- China’s oil imports up 40%
- China – Singapore unease
- Tanker-barge collision and spill
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| AUGUST 3, 2004 |
- NVOs demand confidential contracts
Tired of waiting, UPS, FedEx and other logistics providers call for Federal Maritime Commission decision permitting non-vessel operating common carriers to enter into confidential contracts with shippers.
- Mixed reactions to WTO deal
Some nations take wait-and-see attitude after agricultural agreement sets stage for global trade pact.
- Temasek signals takeover for NOL
- U.S. extends Vietnam textile quotas
- Long Beach OKs Pier J review
- Imports power Virgnia port traffic
- Malaysia ports headed for record
- MSC (USA) taps two for VP
- P&O Nedlloyd appoints North American execs
- APL in joint Indian intermodal venture
- Addition
- Northwest hikes cargo fuel charge
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| AUGUST 3, 2004 |
- NVOCC’s demand FMC action over confidential contracts
Frustrated non-vessel operating common carriers (NVOCC’s) in the US filed a joint petition to the Federal Maritime Commission (FMC) yesterday in an effort to speed up the organisation’s ruling on confidential service contracts.
- NOL share acquisitions trigger mandatory shareholder offer
Neptune Orient Lines’ parent, Temasek Holdings, through its wholly owned subsidiary Lentor Investments, plans to make a mandatory conditional cash offer for all NOL ordinary shares.
- Automation is the key to HK competitiveness
- Portek signs Algerian port deal
- Floods paralyse Bangladeshi production and transport links
- Tauranga takes delivery of new crane
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| AUGUST 3, 2004 |
- Singapore fling
Markets and competitors thrown by shock move to renationalise NOL after 10% rise in share price.
- ABS hits back at malice
Classification society says revised Prestige claims does not extend asset reach.
- Derivative demand flourishes
Companies lining up to join FFA market, claims Norwegian clearinghouse.
- Kistefos takes control
Oslo group buys out Scottish partner to seize 100% of offshore shipowner BUE Viking.
- Kien Hung hangover
Creditors are passing around a $2m hot potato from failed boxship operator Kien Hung.
- Comeback in Bergen
The former head of Team Shipping is rounding up Norwegians for short-sea boxship punts.
- Alaskan yard hopes for cash
Ketchikan Shipyard wants federal funding to expand repair and construction operations.
- Eastern promise from IPBCC
Containership group to raise rates from Asia to Europe from 1 September as costs spiral.
- Aussies deport N Korean crew
Most of crew of ship at centre of drugs allegations sent home but eight still facing charges.
- NOL renationalised
Government of Singapore to buy all outstanding shares in Neptune Orient Lines in shock renationalisation.
- Hellespont in Teekay deal
Tanker giant takes reborn Greek owner’s aframax at $28,500 a day, while American Eagle pays $23,500 for Schulte and Sanko units.
- MMM boss sells out
Shahrazi Sha’ari cuts deal with Trenergy for final slice of holding company that is Malaysian owner's biggest shareholder.
- Wilhelmsen chief sells stock
Skaug divests most of ‘B’ class paper.
- ISH ratings chopped
US owner drops a ranking ahead of anticipated fall in second-quarter figures.
- Eimskip thinks big
Icelandic owner sets ambitious profit and turnover targets, while scrapping coastal shipping, cutting jobs and buying a small boxship line.
- China eyes oil pipeline
Vulnerability of crude imports via congested Strait of Malacca prompts plans for alternate route.
- Aker completes Iranian series
IRISL hints at possible future deals as it takes delivery of last of six boxships from German yard.
- Knightsbridge profit up a third
Five-strong Frontline-managed VLCC fleet sees weaker second quarter but still piles on the cash.
- ABS faces new Prestige battle
Group added to $1bn lawsuit which claims profit driven agenda undermined class society role.
- ASL hires top local shipbuilder
Twenty-year veteran of Singapore shipbuilding scene joins expanding owner and yard group.
- Finnlines fights back
Finnish ro-ro owner recovers from poor first quarter to boost interim profit.
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| AUGUST 3, 2004 |
- Coast Guard tells IMO U.S. must approve MARPOL regulations
- Standard & Poor’s drops ratings on International Shipholding
- Great White Fleet switches U.S. West Coast port
- Hapag parent caught in stock exchange speculation
- Safmarine names second 2,100-TEU ship
- General Dynamics names Lawrence AMSEA president
- Model truckload contract spurs similar agreements with brokers
- DHS, FBI keep watch over truck moves
- APL, Concor sign Indian intermodal joint venture
- NVOs, NIT League develop confidential contracts proposal for FMC
- EC approves TPG's acquisition of Wilson Logistics
- Industry groups, WCO welcome WTO trade framework
- NYK Logistics forms Russian subsidiary
- DF Young names Kenyon sales director
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| AUGUST 3, 2004 |
- Extended Spanish action against ABS
Spain has raised its compensation claim against the American Bureau of Shipping (ABS) from USD 700 million (EUR 580.6 million ...
- Parley Augustsson scheme fell through
Parley Augustsson’s plans to contract eight panamax product tankers at a Far Eastern yard has fallen through, officially because the ...
- Good profit on Torm shares
Stock-listed Canadian Teekay Shipping Corp. has gained a profit of approx USD 250,000 per day owning shares in Danish ...
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