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| MAY 7, 2004 |
Shipping News
- APL eyes development of India's container rail network
NEPTUNE Orient Lines' container division APL is set to make a return to its former glory days as a multimodal pioneer with plans to get involved in India's inland container rail network in the next 1-2 years, according to APL's chief executive.
- Pioneer of multimodal transport
MULTIMODAL container transport by rail is not a new area for either India's Concor or APL, who is widely regarded as the pioneer of multimodal container transport by rail, having entered this segment only a few years after the global spread of containerisation.
- Partners misled us on sales, products, say PSA Int'l, P&O Australia Ports
PSA International and P&O Australia Ports , subsidiaries of the world's second and third largest terminal operators, have accused their partners in a failed joint venture of misleading them over sales and products and crippling the company with mismanagement.
- Time running out for ISPS readiness
ALARM bells are ringing across the trillion-dollar world shipping industry as it scrambles to comply with the July 1 deadline for some of the toughest security measures since World War II.
- Coalition to invite bids to run largest Iraqi port
IRAQ's US-led coalition authority, which is preparing to cede powers to a sovereign government on June 30, plans to invite companies to bid this month to manage the country's largest port for at least 10 years.
Air and Land Transport
- Bankers help hold down cost of new Boeing jet
MANY features of Boeing Co's new 7E7 jetliner were designed not necessarily for airlines, but rather for the people that will ultimately own many of them - bankers.
- Alitalia unions, management seen striking quick deal
- KLM synergies to total 75m euros: Air France
- Top private Indian airline flying to Nepal
- Major carriers will compete in budget space, says Cathay
Admiralty Casebook
- Court's no to seizure of SCI vessel to satisfy govt's judgment debt
A VESSEL owned by the Shipping Corporation of India cannot be seized to satisfy a long-standing judgment debt of the Indian government just because the latter is a substantial shareholder of SCI, a Canadian court ruled earlier this year.
Port Shots
- Port shots
MAJOR US-based owner Overseas Shipholding Group, Inc says that it has bought and taken delivery of two 50,000 dwt US-flag product tankers from Attransco, Inc.
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| MAY 7, 2004 |
- Qingdao Port to pursue stock market listing
- China railways unable to keep up with freight demand
- Californian port board opposes air bill
- US FRA Administrator leaves post, heads home to Texas
- US Coast Guard to be stationed at Malaysian ports
- New Evergreen service links Asia with Australian Ports
- Hanjin net profit up 379pc
- Korean Air posts 20.6pc increase in cargo traffic for Q1
- Air France, KLM merge to create biggest European carrier
- IATA, ATAC demand expenditure review from GTAA
- AA launches online booking for cargo shipments
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| MAY 7, 2004 |
- CMA CGM, Clarion Shipping Agency form joint venture for East & South India
- Maersk Sealand bags 3 major Lloyds Loading List ‘Star Performers’ awards
- SCI takes delivery of Suezmax-size tanker from Daewoo Shipbuilding
- Major global shipping lines shoring up box capacities
- Outdated tankers line up at scrapyards - IMO ban on single hull vessels proves boon for Asian building industry
- Chinese industrial slow-down leaves steel exporters unruffled
- SEAI sees sea of possibilities in Chinese market
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- Hari & Co. opens new CFS at Tuticorin
- ADB offers help to link Haldia Dock with Assam & neighbours
- Hyderabad to be on Blue Dart’s map soon
- Move to establish ferry service linking Karachi and Mumbai
- Forex kitty swells to $ 1,17,879 million
- Forex reserves touch $ 117.8 bn
- ADB’s Chief Economist sees India’s economic growth matching China’s by 2020
- AIAI, Italian Chamber sign MoU to foster trade relations
- ICS conducts enlightening 2-day course on international containerised trade
- India climbs 16 rungs up the competitiveness ladder, says IIMD’s 2004 Yearbook
- DGS leads Indian team to seminar on maritime training in Oslo
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| MAY 6, 2004 |
- Bunkerworld apologises to Coastal Petroleum Ltd.
- Indian market update
Continued bullishness in the ARA today prompted some good buying activity...but are prices on their way back down?
- ARA: Firm market prompts healthy buying interest
- Major rumoured to consider re-entering Fujairah market
Reports today suggested that Shell Marine Products is considering re-entering the Fujairah bunker market through a partnership with Emirates National Oil Co).
- Wait-and-see attitude as Singapore fuel oil hits 16 month high
Gas oil prices have put on an even better show than fuel oil, rising to the highest level since September 2000.
- Crude supportive, but mixed outlook for fuel oil
Fuel oil values in the Singapore cargo market closed mixed today as prices lagged crude gains, while gas oil shot up supported by tightening stocks.
- Golden Week ends with firm numbers and tighter barges
As Japan wakes up after Golden Week, players are starting to feel the effects of four days of very firm crude movements
- O.W. Bunkers UK expands trading team
- Italian buyers still unsure of market direction
- No let-up for Rotterdam prices
- Batumi oil port returning to normal as rebel leader leaves
Disruptions to oil and port operations at Batumi in Georgia ending as Adzhara region's rebel leader flees, ending tense stand-off.
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| MAY 6, 2004 |
- Second Basel International Hazardous Goods Conference
- Amsterdam Schiphol Airport starts ST WLAN
- Australia aids Philippines port security
- ProLogis reports first quarter results
- Booming rail cargo traffic in Australia
- Alitalia’s share trading suspended
- OOCL announces modification of its Setouchi/Taiwan Express Service
- Delta Airlines names Michael Palumbo as new CFO
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| MAY 6, 2004 |
- Bid to speed up Cape Africa salvage
- Belships’ improved Q1
- Braemar’s buoyant 2003/4
- LR ship in USCG scheme
- Odfjell boosted by market rebound
- Donjon and Smit in new JV
- Wilhelmsen unveils newbuilds deal and improved Q1 results
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| MAY 6, 2004 |
- Hornbeck exercises barge newbuild option with Manitowoc
Orders second 110,000 bbl unit
- OSG reports record income
$76 million net for first quarter
- Iraq gets coastal defense patrol boats
Newly created ICDF starts training
- Royal Caribbean commits to cleaner wastewater
Environmentalist group calls off campaign against group
- Conrad Industries reports on first quarter
Repair sector still "difficult"
- New round of Port Security Grants
TSA opens Round 4 for applications
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| MAY 6, 2004 |
- Sea-Tac Airport director announces plans to depart
- Canadian and US teams hold oil spill response drill
- Coast Guard responds to bogus emergency flare firing
- Schnitzer Steel hires firm to look at sale/merger of mill
- Port of Tacoma offers annual report on line
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| MAY 7, 2004 |
- Green hails P&O Nedlloyd result but vows to close profit gap
P&O Nedlloyd will need several more years to catch up with its more profitable competitors, chief executive Philip Green predicted yesterday as the line posted a modest first-quarter surplus.
- Undercutting keeps the lid on transpacific freight rate rises
FIRM evidence is now emerging that transpacific carriers achieved solid rather than spectacular rate increases during this year’s annual round of contract renewals, writes Janet Porter.
- Bunker disaster avoided by ‘pure luck’
IT IS "pure luck" that there has not been a major disaster resulting from a spate of fuel contamination cases in the Arabian Gulf, according to fuel testing company DNV Petroleum Services.
- US oil price set to exceed $40 a barrel
OIL prices in the US are set to punch over $40 a barrel this week as traders become jittery over Middle East security fears stoking fears of rising bunker prices, writes Martyn Wingrove .
- Exmar could go public with LNG business
GAS shipping specialist Exmar is considering an initial public offering for its liquefied natural gas carrier operations, says group chief executive Nicolas Saverys, writes Tony Gray.
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| MAY 6, 2004 |
- Uganda warned about cruise jobs ad
OFFERS of up to 5,000 jobs on cruise ships in the Caribbean have been met with caution in Uganda. Local media have been running adverts promising applicants an annual salary of $15,000-$45,000, warns the Kampala-based independent daily The Monitor
- World Bank backs Sokhna with $20M
A $20M loan to help fund civil works and equipment purchases has been awarded to Egypt’s Sokhna Port Development Company
- Houston terminal hurdle removed
HOUSTON'S Bayport Container Terminal moved closer to reality yesterday when claims that the Army Corps of Engineers acted improperly were rejected
- Tanker rates drive OSG to record
OVERSEAS Shipholding Group has been busily signing new joint ventures, acquiring ships and raising new debt and equity during the first quarter
- Royal Caribbean bows to greens
US environmentalist group Oceana has claimed victory for its campaign against Royal Caribbean Cruises' wastewater policy
- Hoax bomb stalls Greek ferry
ANOTHER hoax bomb warning has hit a Greek ferry, two weeks after a similar incident cut short the voyage of Superfast 12 from Patras to Ancona
- Belships lifts first-quarter profit
- Egypt to discuss wheat deal
- Eastern Shipping founder dies
- easyCruise joins its rivals
- Russian oil output still growing
- P&O Ned posts healthy first quarter
- Labour trouble brewing at Chennai
- Mumbai-Karachi link: informal talks
- Goa to host Asian ballast meeting
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| MAY 6, 2004 |
- Strikes by truckers at Oakland, Norfolk
Ongoing protest by drivers slows container handling at Oakland, spreads to Virginia port.
- Rate gains drive P&O Nedlloyd profit
Turnaround spurred by 15 percent increase in average freight rates over past year.
- Union Pacific cancels UPS transcon pact
- MOL, Neptune Orient Lines win rate hikes: Report
- Democrats challenge pace of homeland security
- House alarmed at Feds' rail security
- China foreign trade to reach $1 trillion: Report
- Canada raises fines for bilge discharge
- KLM cargo swings to profit
- FedEx Ground to build Georgia terminal
- UPS raises stock buy-back to $1 billion
- Hong Kong air-cargo volume up
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| MAY 6, 2004 |
- China’s ‘soft landing’ won’t hit profits says RPONL
Royal P&O Nedlloyd (RPONL) CEO Philip Green says he is optimistic that there will be no slump in Chinese output but he expects the economy will have a ‘soft landing’.
- Committee to look at truckers’ complaints has not stopped Oakland strikes
- MSC’s Eurogate deal secures berths for future tonnage
- TSK and Cosco to launch North China/Japan service
- Busan dredge opens terminals to super post-panamax ships
- Brasilia raises port defences with US$26m ISPS funding
- Hyundai appointed as Sony’s global partner carrier
- Gwangyang records sharp 2004 growth
- Hamburg Süd plans vessel investment
- Royal P&O Nedlloyd appoints new CFO
- K Line decides on new vessel engine
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| MAY 6, 2004 |
- Another record for OSG
Top US tanker owner has $1bn of liquidity and is poised to continue buying spree.
- Secondhand bulker prices dip
Cyprus Maritime sells early 1980s-built capesize at lower level than price logged for February deal.
- Exmar may hive off LNG unit
Chairman Nicolas Saverys tells business luncheon what's on the menu next for gas company.
- OOCL trade up 25%
Asian cargo boom gives Hong Kong container line big revenue boost.
- CCU rides bulk wave
UAE owner and Klaveness partner sees profits more than double in 2003.
- Unwelcome Evergreen hat trick
Three of Taiwanese owner’s boxships detained in Hong Kong in April.
- Wilhelmsen takes Ray newbuilds
Norwegian owner charters three of Israeli group’s Gdynia car carriers for 15 years as it announces profit hike in first quarter.
- Big jump for new Nedlloyd
Amsterdam stock market debutant saw profits rocket in first quarter.
- Caspian Shipping ro-ro freed
Turkey releases vessel arrested in bid to force payment of Azeri government debts.
- Nenaco ships grounded again
Five vessels held in port over debt as Philippine owner lurches into new crisis.
- Simon rejects bid
Struggling UK ports group turns down "unsatisfactory" revised takeover offer.
- Blue Star 1 in bomb alert
Greek ro-pax ferry caught in terror scare as Athens remains on edge after earlier bomb attacks.
- Suez up on tanker traffic
An increase in transits by tankers helps to fuel growth in receipts at strategic Egyptian waterway.
- Record quarter for Navigators
US marine insurance group sees profits almost double in "disciplined" first three months of 2004.
- Titan confirms VLCC charter
China-backed owner taking Titan Uranus on six-year bareboat charter with purchase obligation.
- Conrad sees losses shrink
US shipbuilding group has reported an improvement in its finances but still remains in the red.
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| MAY 6, 2004 |
- Industry officials play down risk of Chinese "hard landing"
- P&O Nedlloyd improves 1st quarter result, but aims higher
- Hanjin nets $136 million in 1st quarter
- ACL raises 2003 operating income
- MarAd opens VISA enrollment
- BNSF prepares for grain harvest
- Shippers to hear UP's plan for fixing delays
- FMC reviews 18 OTI license applications
- Corley heads Econocaribe's Northeast import operations
- USDA to allow imports of Taiwanese orchids
- USDA increases veterinary diagnostic fees for live animal shipments
- TSA opens fourth round of port security grant program
- Seattle port interests seek funds to replace Alaskan Way Viaduct
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| MAY 6, 2004 |
- Stena Line Freight has opened own bunker oil terminal
Stena Line Freight has invested in a new bunker oil terminal in Holyhead with a storage capacity of 8,000 tons ...
- Better than expected for SMA
The Swedish Maritime Administration reports a SEK 38 million (EUR 4.2 million) profit before taxes for 2003, up by SEK ...
- Stelmar sale/BB back with Norwegian KS company
A Norwegian KS company is reported to have bought nine Stelmar handymax product tankers for around USD 107.0 million with ...
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