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| AUGUST 10, 2004 |
Shipping News
- Top Japan lines turn in huge Q1 profits
JAPANESE shipping lines said their sales and profits in the three months to June jumped as rising cargo volumes and freight rates, triggered by robust trade with China, offset higher fuel costs.
- 10% of ports yet to comply with ISPS
ABOUT 10 per cent of the world's port facilities still do not comply with the International Maritime Organisation's new security requirements over five weeks after they came into effect.
- Crude exports from Basra port hit full capacity of 2m bpd
IRAQ is loading crude at a rate of two million barrels per day from its vital Basra Oil Terminal yesterday, a level last hit several months ago before sabotage spread to the south and dented exports.
- Xiamen Port says IPO under study, denies HK filing
XIAMEN Port Affairs Co, which runs China's seventh-largest container port, said a first time share sale is still in the discussion stage, denying a report that the company has filed a listing application with Hong Kong regulators.
- Over a dozen African migrants die trying to reach Italy by sea
MORE than a dozen Africans died trying to reach Italy in a broken-down and overcrowded boat, but more than 70 survivors were rescued by a passing freighter on Saturday and brought to Sicily early on Sunday, the Italian police said.
Air and Land Transport
- BA to raise fuel fee for long-haul flights
BRITISH Airways Plc, Europe's second-largest airline, plans to more than double the fuel surcharge on long-haul flights because of rising oil prices.
- Hindustan Aeronautics wins 3.8b rupee Airbus contract
- Cyprus keeps closer watch on airport
- Pen-shaped gun seized at airport
- MAS to start 6 new flights to India, China
- China's Hainan Airlines in talks to buy troubled Malev
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| AUGUST 10, 2004 |
- HK, Shenzhen freight charges narrow: TDC
- CMA-CGM mega container ship arrives at Chiwan
- OOIL posts pre-tax profit of US$283m for H1
- Rickmers-Linie to increase BAF
- NY & NJ Port Authority begins planning for rail expansion
- FedEx/UPS to expand in China
- Japan Airlines posts first quarter loss
- Air Canada offers non-stop flight to HK from Toronto
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| AUGUST 10, 2004 |
- Safmarine launches 2nd of its 3 new vessels for trade with Africa
- Asian cargoes choke West Coast ports of North America
- Hanjin Shipping shows better results in Q2
- NY/NJ Port Authority, army corps sign pact for major channel deepening project
- Wilh Wilhelmsen posts record profit in Q2
- Buoyant markets lift "K" Line
- Rickmers appoints new agent in Canada
- Corus rolls with Kalmar
- UPS results
- Meat products exports rise to $ 325 m in 2003-04
- India emerging as 4th largest IT services market in Asia-Pacific
- Mango pulp to be exported to China this month
- Indo-Pak trade talks to cover shipping links tomorrow
- TAMP clears TPT’s plan to charge pilotage fee from non-performing ships
- Port community EDI update
- Trucks to keep off roads from Aug. 21
- Sunitrans to forge new alliances in international freight forwarding
- Forex reserves dipped by $ 1,531 million to $ 1,19,575 million
- Forex reserves dip further by $ 1.25 bn
- DEPB scheme continues till November
- Inflation rate rises to 7.51 pc
- BG for exports under EPCG scheme may be waived
- Interactive meet with Brazilian envoy at IMC on Aug. 12
- Seminar on export potential of autos, components to be held at WTC tomorrow
- Interactive meet with Taiwan investment survey team at IMC on August 20
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| AUGUST 9, 2004 |
- Bullish analysts contradicted by former OPEC chief
Former Saudi oil minister Sheikh Ahmed Zaki Yamani has blamed speculators for driving crude oil prices to new highs, while analysts have predicted that oil prices could rise further.
- Gibraltar: Busy prompt schedule belies quiet Monday trade
- Yukos oil shipments 'safe for now'
Market remains uncertain about future of Russian oil giant as good news has often been followed by bad.
- Rotterdam market easing with crude
- Force majeure 'virtually lifted' on LG Caltex exports
August product exports seen returning to normal after strike ends.
- China: Commercial oil products tankage to double in 2 years
Independents lead the way in tankage investment in China as surging fuel oil imports demand more space.
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| AUGUST 9, 2004 |
- New Website for ECU-Line
- EU commission creates security division
- A new finished automobiles carrier in China
- Swaziland trains running at full speed again
- "K" Line Air Service Ltd opens Hangzhou office
- Liberia on Paris MoU white list
- Overbeeke moves to Swiss Container Line
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| AUGUST 9, 2004 |
- "Extremely positive" outlook for LPG
- Shipping profitability set to dip
- ABS considering response to Prestige ruling
- Brazilian firms eye Panama Canal work
- MOL and K&N get Sakhalin II project cargo
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| AUGUST 9, 2004 |
- Bollinger moves R&D and high speed vessels office to St. Rose
- Australia seeks amphibious ship study
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| AUGUST 10, 2004 |
- CP Ships reveals profits hit by accounts error
CONTAINER line CP Ships yesterday admitted an accounting systems blunder that will erase up to $40m from its net profits between 2002 and the first quarter of this year.
- OMI fined $4.2m for waste oil cover-up
CONNECTICUT-based OMI Corp has had its reputation sullied and its wallet lightened to the tune of $4.2m after a federal judge passed sentence on the tanker owner for illegally concealing the dumping of thousands of gallons of waste oil and sludge at sea.
- Satellite experts try to track down origin of giant waves
SATELLITE technology has helped to establish the existence of giant rogue waves and is now being used to try and understand their origins in a bid to forecast where they will next occur.
- Rowers saved after freak wave destroys their boat
FOUR British rowers are safe in Ireland after a freak wave smashed their boat Pink Lady during an Atlantic crossing record attempt, writes Martyn Wingrove.
- Strike threat hangs over key ABP ports
THE threatened dockers’ pay and conditions strike at Associated British Ports will concentrate on three or four key locations if it goes ahead, both sides privately admitted yesterday.
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| AUGUST 9, 2004 |
- ABP dock strike prospect
THE UK’S Transport & General Workers Union (TGWU) has raised the prospect of the first national dock strike in the UK for 14 years, with a ballot for industrial action among its members within ABP, the country’s largest port operator
- Security threats stops Iraq oil
IRAQ stopped pumping from southern oil fields today as a precaution because of the violent Shiite uprising sweeping many parts of the country
- WTSA lines to raise box holding fee
CONTAINER shipping lines operating from the US to Asia plan to increase terminal holding fees for containers, effective 1 September
- CP Ships owns up to profit plunge
DEFICIENCIES in former financial accounting systems has resulted in CP Ships reducing its profit figures by between $43M and $48M
- Mindanao still stalled
THE only partial operation of the Philippines' Mindanao Container Terminal (MCT) project, which is facing a court injunction suit, has started to take its toll
- Minister promises to lift blockade
RUSSIA'S new transport minister has promised to lift the Russian military blockade that has halted oil export and other civilian operations at Kaliningrad's eastern port, Baltysk
- Indian harbour crane fatality
- 1,800 barge backlog
- PNOC keeps tankers
- More migrants adrift in Med
- Strong boxship charter rates
- Pink Lady crew rescued
- Virjen group founder dies
- $2.1M for OMI whistleblower
- Mormugao cruise/container tender
- Algoma has busy year
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| AUGUST 9, 2004 |
- CP Ships to restate earnings to '02
Carrier says new accounting systems finds "some deficiencies," will slash millions from past profits.
- NY ship security threat a lemon
- NOL chief: Takeover bid ‘under consideration’
- Bush signs export controls extension
- British dock strike looms
- UPS expands TradeDirect to air
- Australia set to OK trade deal
- Union Pacific quickens pace of hiring
- U.S., Philippines prep free-trade talks
- FedEx buys Parcel Direct for $120 million
- Maersk Logistics joins GF-X
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| AUGUST 9, 2004 |
- TUI settles down as Hapag-Lloyd market-float speculation answered
Shares in Hapag-Lloyd parent TUI have settled slightly lower since speculation forced the company to announce results early on Friday.
- OOIL navigates 238% profit-surge, with analyst report spying more surges ahead
- Ballotting transport union sees consolidation in UK ports
- Rail4chem quits transport club over Deutsche Bahn
- Transpacific equipment imbalances prompt agreement surcharge-hike
- De Palacio backs German toll-cut through fuel-tax refund
- SITC to launch a second Southeast Asia service
- CP Ships to restate accounts following accounting-practice change
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| AUGUST 9, 2004 |
- Tsakos man in "miracle" rescue
Seafarer spends over eight hours in the sea off UK after falling overboard from tanker Bergen.
- Cargo lawsuit over Odfjell blast
Chemical comany sues over damages resulting from a fatal blast in June.
- Stralsund invests in capacity
Seven 4,000-teu Maersk boxships mean a heavy upgrade at the group's German shipyard.
- Belize grounds 24
Nine percent of fleet going nowhere after failing to meet ISPS requirements.
- The Big Easier
New Orleans bids to attract more container traffic with proposed $150m transfer station.
- North-Western narrows losses
But net sales plummet nearly 30% in 2003, ahead of joint operation with Volgaflot.
- Good deed goes unpunished
German lifesavers have escaped the fate of the Cap Anamur.
- Buzzards come to roost
Massachussets to tanker owners: "We will run you into bankruptcy."
- Four out at Vroon
Dutch owner offloads tweendeckers, boxship and tanker while buying chartered reefer.
- CP Ships chops profit figures
New accounting methods lead to reduction of 2003 results by up to $27m.
- Evergreen pair held
Taiwanese owner joins Shih Wei, Atlantska Plovidba and others on Hong Kong’s July detention list.
- US braced for barge backlog
Major disruption expected on the Mississippi as McAlpine lock shuts down for repair.
- Precious buys second bulker
Is that the end of ship purchases for the Thai owner this year?
- Stavropoulos buys Tsakos at $30
Vote of confidence in shares as chairman snaps up stock at robust price.
- Scare leaves sour taste
Anonymous report of biological threat on containership costs CSAV a costly lemon cargo.
- Misery continues at IHI
Japanese shipbuilder follows up 2003/4 loss with more red ink in first quarter.
- Bunker surveyors plead guilty
Three men plead guilty in Singapore to charges of taking bribes for certifying short measures.
- Pac Basin releases more stock
An additional 3m shares hit the market as Hong Kong bulker owner exercises IPO over-allotment.
- Profits up 50% at Labroy
Large jump in shipbuilding revenue helps bottom line at Singapore owner and yard group.
- India-Sri Lanka link vetoed
There will be no ferry service between Tuticorin and Colombo, according to Tamil Nadu chief.
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| AUGUST 9, 2004 |
- U.S./Asia carriers raise equipment charges
- U.S. orders OMI to pay $4.2 million for illegal oil dumping
- aMandatory AMS deadline approaches
- Maersk Logistics joins GF-X portal
- EGL doubles net income in second quarter
- OFAC wants feedback on licensing procedures to Sudan, Libya, and Iran
- Davidson steps down as director of UTi Worldwide
- New SDDC chief takes over Aug. 24
- New York-New Jersey port authority director to retire
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| AUGUST 9, 2004 |
- Seatrans takes Schoeller contracts and orders vessel in turkey
Seatrans, the Bergen-based chemicals and forest products carrier, will take two of a series of 8,500 DWT chemical tankers ...
- Two more ferry oldies to the breakers
Two former Scandinavian veteran ferries have been sold to breakers after only a few years work in the Middle East ...
- OVDS convicted of defraud
Ofoten og Vesteraalens Dampskibsselskap (OVDS), one of two companies operating the Coastal Express from Bergen to Kirkenes has been found ...
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