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| NOVEMBER 8, 2004 |
Shipping News
- Shanghai set to beat Rotterdam as top port
SHANGHAI will overtake Rotterdam as the world's largest port this year, as China's economic expansion boosts demand for shipping services, Shanghai Port president Lu Haihu said in Rotterdam.
- Ship grounded near Raffles Lighthouse
A container ship en route from Singapore to India ran aground Saturday night near Raffles Lighthouse and within port limits, the Maritime & Port Authority of Singapore said yesterday.
- MPA, NUS in research effort
EYEING a global market for maritime technology worth nearly $1.8 billion annually, Singapore established a new framework for joint maritime research aimed at bringing about closer collaboration between government, academia and industry.
- P&O posts 18% rise in Q3 container handling
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| NOVEMBER 8, 2004 |
- EWATA members agree on new surcharge
- Yantai-Dalian rail/ferry project started
- EGL announces strong growth and profit in Q3
- China custom law monitors assembly of products
- High-tech products: mainstay of Shenzhen trade
- Opportunities in China for our logistics companies, says Singapore minister
- PSA wins two awards
- Port Authority of NY/NJ appoints new executive director
- UPS launches new flights to China
- Profitable first half for JAL
- EGSAC Italy appointed GSSA for Croatia Airlines
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| NOVEMBER 8, 2004 |
- Safmarine announces changes in Safari service from next year
- P&O Ports & CMA CGM in Le Havre deal
- Canada Maritime tops survey for schedule reliability
- ECU-Line offers weekly service to Vera Cruz
- Evergreen & Yang Ming Line post higher profit
- ANZDL launches new website
- Cosco Shipping doubles Q3 net
- Luka Koper reopens in Belgrade
- RST orders 2 Kalmar S to S cranes
- P&O posts excellent Q3 results
- Cotton glut: govt to launch incentive scheme for exports
- Exim Bank acquires stake in W. African Development Bank
- Port workers to hold demonstrations today
- Container ports in Gulf set on expansion path
- JNPCT handles record throughput of 96,508 TEUs in Oct. 2004
- Excellent performance by m.v. Orient Stride at Mumbai Port
- PRCL to pay Rlys 2 pc annual licence fee/royalty
- Green signal given for excess wagon loading cheers zonal railways
- Truck freight rates, prices of products poised to shoot up
- Rs 500 per passenger to be charged to build greenfield airports
- Construction begins on Trident Terminals’ CFS at Dadri
- Future JV pacts may include termination clause
- Port Community EDI Update
- Interactive meet with Prince Radu at IMC today
- ICS conference on ‘Shipping: Towards Better Decisions’ to be held in Dubai on Nov. 27, 28
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| NOVEMBER 5, 2004 |
- Copec extends domestic market share
- Bunker surcharges see container line profits soar
Higher container volumes and increases in bunker fuel surcharges push-up profits.
- Halt in exports cause surge in ARA fuel oil stocks
Lack of arbitrage opportunities leads to jump in fuel oil stocks, while fears of a distillate shortage ease.
- Baltic demand picks up after week of falling prices
Prices continued a week-long fall in most Baltic ports today, and buying activity picked up.
- December West to East HSFO arbitrage volumes plummet
December arrivals of HSFO seen at only one-third of Singapore's recent monthly sales of 380 cst bunker fuels.
- Crude oil falls as supply concerns begin to subside
Crude oil traded on the Nyemx fell over $2 in yesterday's trading as the industry becomes more confident of supply.
- Singapore: Arbitration service to be launched next week
November 8 will see the launch of the Singapore Chamber of Maritime Arbitration (SCMA), aimed at speedy and reliable resolution of disputes for all maritime interests.
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| NOVEMBER 5, 2004 |
- Eagle Eye partners with Sidewinder for automated real-time tracking
- 60 t HGV trials in Germany?
- New Zealand freight companies form alliance
- Ofotbahn strengthened to 30 t axle load
- Air Maroc Cargo adds Algiers, seeks London for freighter network
- Senator Lines launches new ABX service
- Reid retires as British Midland CEO
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| NOVEMBER 5, 2004 |
- Austal adds two more to orderbook
- Tankers boost Seabulk results
- Hornbeck sees OSV demand picking up
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| NOVEMBER 5, 2004 |
- Corps completes emergency work on several levee repair projects
- AEGON announces sale of Transamerica container arm
- Port of Seattle fire Department holding annual pancake breakfast
- Task force formed to study oil spill response
- Rail intermodal totals continue to break records
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| NOVEMBER 8, 2004 |
- Law lords to rule on CMA CGM damage liability limitation case
THE House of Lords is to be asked to rule on a test case centring on the rights of charterers to limit their damage liability to shipowners under the provisions of the Convention on Limitation of Liability for Maritime Claims 1976.
- Airmic seeks brake on contingent payouts
BRITAIN’S leading corporate buyers of insurance have called for a radical overhaul of the insurance-buying process in the wake of the legal controversy surrounding the world’s largest insurance broker Marsh & McLennan.
- Sarkozy backs the energY of French shipyards
FRENCH Finance Minister Nicolas Sarkozy delivered a vibrant defence of French shipbuilding at the naming of the Gaz de France energY (above) at the Chantiers de l’Atlantique yard at the weekend, writes Andrew Spurrier in Saint Nazaire.
- Klesch in $1.2bn deal
BRITAIN’S Klesch & Co and New York-based The Jordan Company on Friday confirmed the acquisition of Transamerica Maritime Containers for a consideration of $1.2bn, writes David Osler.
- Arlington in IPO success
Arlington Tankers, the industry’s latest New York initial public offering, went to an immediate premium above its offer price on the shares’ trading debut, writes Tony Gray.
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| NOVEMBER 5, 2004 |
- China stays on top of iron, steel
CHINA will continue to dominate the global iron and steel market until 2010 and will account for 70% of market growth during that period, shipping agents heard yesterday
- Arlington launched on NYSE
ARLINGTON Tankers begins trading on the New York Stock Exchange today, with 11.45M common shares priced at $20.00 following higher than expected demand
- Union Pacific denies responsibility
UNION Pacific Railroad has rebutted persistent criticism by sternly denying it is to blame for US West Coast congestion this year
- TEN overpowers rising costs
TSAKOS Energy Navigation has tripled third-quarter profits on higher time charter equivalent rates despite growing ship expenses
- Chiquita slips on costs
- Florida losing its phosphates
- Little impact from Customs action
- Chinese to finance Pilbara project
- Concor's monopoly ends
- Strike and raising costs hit Algoma
- Essar's Mehta explains tanker sale
- Essar's repays debts
- Tankers lead Seabulk turnaround
- First US West Coast LNG approval
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| NOVEMBER 5, 2004 |
- OK for Port Everglades terminal sale
Bankruptcy court approves auction of South Stevedoring common user terminal.
- Transamerica box leasing sold
Dutch parent sells container lessor to investor group for $1.2 billion.
- Europe asks arbitration on U.S. tax law
- October traffic gains for railroads
- Union Pacific says service better at LA-Long Beach
- So. Calif. air-cargo hub to add rail link
- UK logistics merger called off
- Northwest drops fuel charge
- Taiwan OKs third free-trade port area
- BNSF appoints new execs
- P&O port traffic booms
- Seattle containers set record
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| NOVEMBER 5, 2004 |
- Beijing sets timetable logistics liberalisation
The logistics industry will be fully open to foreign investment by the end of the year, said Zhang Zhigang, vice minister of the Ministry of Commerce in China.
- Barroso under fire from Greens as Kroes keeps competition portfolio
Green MEP’s have berated new EC president José Manuel Barroso for ‘folding under pressure’ from EU member states in re-submitting names for the new commission.
- Surcharges flood Australian trades
- Checks and balances: US Coast Guard evaluates trading partners’ port security
- Woodpecker rail service chips away at roads’ dominance
- HMM to issue W120billion worth of bonds
- Australia-New Caledonia service still struggling
- Cosco Vancouver delivered
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| NOVEMBER 5, 2004 |
- Tropical Shipping beats parent
A Florida-based boxship company is the only moneymaker for New York-listed Nicor.
- US judge enjoins MarAd
A judge has put six Maersk group containerships in legal limbo on their way into the US flag.
- Top Tankers flies low
A share issue by Evangelos Pistiolis's Top Tankers has priced a dollar and a half under target.
- Arlington Tankers raises $230m
Initial public offering for Stena vehicle exceeds price expectations.
- Yang Ming and Ever even greener
Taiwan's liner-shipping majors have boosted their annual profit estimates yet again.
- Great Eastern stands up for deal
Great Eastern speaks warmly of single hull and denies a recent play was a money-loser.
- SembCorp rises on tide
Revenues and earnings are advancing in step at Singapore shipyard group SembCorp.
- Chemical bonanza in sight?
Analysts think Odfjell's profits could triple by 2006 and Stolt-Nielsen should head the same way.
- Taiheiyo upgrades forecast
Hot freight markets prompt Japanese VLCC and bulker owner to increase interim profits by 50%.
- Mipo wins Cido quartet
Hyuk Kwon's Cido is expanding its chemical tanker exposure with a $146m order.
- Precious piles on the profits
Expanded fleet and red-hot bulker rates help Thai owner more than double its profits from twelve months ago.
- TEN profits up fourfold
Expansion helps Greek owner make the most of hot rates, but it warns of the burden of increased costs.
- Algoma slides
Labour disputes and strengthening Canadian dollar hit profits at tanker and bulker operator.
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| NOVEMBER 5, 2004 |
- Tropical's profit rises despite hurricanes
- MSC to provide own Asia/South Africa link after VSA split
- U.S. air cargo continues boom
- UPS triples freighter service to China
- Moyes relinquishes power at Swift
- EU commission is set
- EGL triples 3rd-quarter earnings
- Port of Rotterdam switches to paperless declarations
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| NOVEMBER 5, 2004 |
- Arlington pricing above target
Arlington Tankers’ issue in the US market is likely to be oversubscribed and shares are now offered at close to ...
- Port unions reject new port directive
"The only objective for the directive is to wipe out the large dockworker unions", says the International Dockworkers Council (IDC ...
- The Swedish Club opt for 10 per cent premium increase
The Swedish Club has decided on a 10 per cent general increase for the P&I policy year 2005/2006 ...
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