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| MAY 11, 2004 |
Shipping News
- Qingdao Port plans listing to fund expansion
THE Qingdao Port Group is the latest Chinese port aiming for a stock market listing in order to help finance capacity expansion as it aims to join the top 10 club of the world's busiest container ports.
- Jurong Port doubles volume
JURONG Port more than doubled its container throughput in April, handling 48,000 TEUs, compared to just 21,000 TEUs in the same month a year ago.
- Suez Canal to handle VLCCs by '06: official
THE Suez Canal will be deep enough to accommodate very large crude carriers for the first time in its history when dredging is completed in 2006, a Suez Canal Authority official has said.
- Canada to boost port security spending
CANADA said it would spend an extra C$115 million over the next three years to boost the security of its ports and help them compete with the United States.
- TANKER MARKET
CHINESE buyers cut their price offers for ships to be demolished to a five-month low as demand for scrap steel in the country declined.
Air and Land Transport
- EADS wins 3b euro Arianespace order
EUROPE's largest aerospace company EADS is to sign a three billion euro order with European space consortium Arianespace to supply 30 Ariane 5 rockets, industry sources said yesterday.
- New Alitalia chief braces for tough rescue mission
- Boeing bets on Middle-East to propel demand for its 7E7 jet
- SriLankan adds weekly flights to Calicut
- JAL posts biggest-ever annual loss; sees turnaround this year
Port Shots
- STX wins US$90m order for two ships
STX Shipbuilding Co, South Korea's seventh-largest shipbuilder, won an order valued at about US$90 million to build two container vessels for Reederei Klaus E Oldendorff of Germany.
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| MAY 11, 2004 |
- P&O Nedlloyd posts turnaround in Q1
- Rate reduction possible at end 2005, says Weber
- Hamburg Sud increases TEU, FEU rates
- Singapore, Jordan end FTA negotiations
- Eurogate, MSC form JV: MSC Gate Bremerhaven
- Cathay makes changes to senior management
- Jet Airways to fly to Nepal
- TSA negotiates $37.5M deal to bolster Chicago O'hare security
- Kitty Hawk to lease seven Boeing 737-300SFs
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| MAY 11, 2004 |
- MSC voted ‘Shipping Line of the Year’ by Lloyds Loading List once again - Also bags customer service awards for 2003
- Dubai launches $ 430-m shipping firm JV with Abu Dhabi, Omani govt companies
- G-20 rejects farm tariff reduction formula
- Pak may buy 1 lakh tonnes of soyameal
- IT exports to UAE may go up by 25 pc
- Textile exports can touch $ 30 bn in 5 years: Official
- Myanmar lifts ban on Indian poultry
- Enlarged EU will help IT companies: ESC
- Steel industry cool to China economic slowdown
- Mormugao Port Trust holds first TOLIC meeting for 2004
- Shortage of rakes disrupts coal movement, coastal shipping services at Vizag Port
- India up by 16 notches on competitiveness list
- Forex reserves swell by $ 611 million to touch $ 118.5 billion
- Govt may cut import duty on soya oil
- Foreign Trade Analysis: Current Policy & Procedures
- DGFT logs on to digital signature facility in Chennai
- AEPC to hold ‘Made in India’ apparel show in the US in June
- Separate Ministry for aquaculture sought
- PHDCCI formula to give textile units cutting edge globally
- Letter to the Editor - Coastal shipping needs encouragement
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| MAY 10, 2004 |
- Cape Africa bunker transfer on hold again, hope for Tuesday
Latest attempt to extract bunker fuel put on hold after salvors run out of daylight hours.
- Gibraltar strike speculation discounted
Rumours pertaining to a strike had been circulating in Gibraltar on Friday afternoon, but so far players say they have not been substantiated.
- Crude prices plummet after Saudi supply suggestion
Influential oil minister suggests OPEC should discuss an increase in quotas and announce a decision at the June 3 meeting.
- Bunker supplier takes key role in 'clean products' venture
UAE government-owned oil company looking to 'fill an expanding global niche' for double-hulled clean products transportation.
- Rotterdam softens as crude falls
- Bunkers 'absorbing' cargo influx despite price dip
Chinese absence could see lack of demand for Asia-bound fuel oil cargoes as widening west-east cargo price differential sparks renewed arbitrage interest, say traders.
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| MAY 11, 2004 |
- Columbia Group launches new websites
- New rail strike in France on May 13
- DHL opens first Express Logistics Center in Brazil
- New partners for Power People Logistic Group
- Martinair opens offices in the Americas
- AANA - Joint Service by ANL/ACE
- O'Hara joins growing IAM Group
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| MAY 10, 2004 |
- "Almost 95%" of Liberian fleet meets ISPS
- Nordic American fixes suezmax to Gulf Navigation
- Trailer Bridge reports for 2003, expects profit in Q1 2004
- Broker Seawise pulls out of tankers
- Canada pledges C$115m for port security
- Stolt Nielsen puts back AGM
- Cape Africa salvage glitch
- K Lines fixes time charters for new VLCCs
- Panama dominates Central America port volumes
- Changes at the top for Colombo DY
- EC approves Belgian rubbish barge subsidies
- US lawmakers press for security checks on all ships
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| MAY 10, 2004 |
- Navy marine mammals may get smoother commute
Art Anderson completes first phase of Stolkraft vs. RIB study
- Liberia on track for ISPS compliance
Plan approvals, verifications on track
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| MAY 10, 2004 |
- Construction project shutting down Port of Tacoma Road on Wednesday
- Royal Olympic loses spot on Nasdaq Stock Market
- Seattle lawfirm adding attorney with Russian background
- Crowley brings back tugs for Bay Area service
- Stelmar works out deal to lease back vessel fleet
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| MAY 11, 2004 |
- Maersk to lose millions after Iraq U-turn on Khor al Zubair
MAERSK’S five-year agreement to run a key Iraqi port is set to be ripped up without compensation, following an Iraqi decision to put port sector modernisation out to tender.
- Møller-Maersk in Hyundai rig row
AP Møller-Maersk and Hyundai Heavy Industries, two giants of the shipping world, are locked in battle over ownership of an oil rig that should have been completed a year ago.
- Safmarine ship marks milestone
THE first of three vessels ordered by Safmarine and purpose built for the West Africa trades was named on Saturday, writes Janet Porter.
- MHI reassures investors after Hamanasu blaze
MITSUBISHI Heavy Industries spent yesterday dampening investor alarm over a second fire at its Nagasaki yard that has done undetermined damage to another nearly complete passengership.
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| MAY 10, 2004 |
- Iraq: threat to foreigners at Basra
CONFLICTING reports are coming out of Iraq concerning the extent of damage caused by sabotage against a pipeline near Basra on Saturday, and a previously unknown group has threatened to kill foreigners in the city
- Iraqi Ports plans $1Bn investment
THE Iraqi Ports Authority has plans for 60 new berths "over the next five to 10 years" to be developed at a cost of around $1Bn
- UK rejects national port strategy
The UK government has rejected calls for a national strategic plan on port expansion despite being told that a clear statement on future planning is "essential"
- Job threat at struggling Pemex
MEXICAN oil giant Pemex was hit by a $93M loss during its first quarter, amid growing reports that up to 5,000 non-union jobs could be axed this year
- Bulker held for cleaning tanks
A Turkish bulker, the 6596dwt TK Venice, was taken to Brest under escort on Friday after being caught voluntarily cleaning its tanks off the French coast
- Sherwood satisfied despite 1Q loss
REFLECTING its traditional seasonal shortfalls in the ferry sector, Sea Containers reported a loss of $16.8M on revenues of $378M for the first quarter of 2004
- NCL bond bid falls flat
- Victory for the LMX spiral re-insurers
- Confusion over crude exports at Basra
- EC hammer blow for Izar
- Everett takes off on aircraft deal
- Arctic project raises green concerns
- DFDS welcomes Lisco's Traveller
- Protectionist Koreans issue warning
- MISC clarifies vacancy position
- Boxship market reaching plateau
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| MAY 10, 2004 |
- Oakland truckers go back to work
Harbor truckers returned to work at the Port of Oakland, ending a week of protests against soaring diesel fuel costs that slowed container truck traffic to a crawl.
- New highs for box charter rates
Carriers feel new cost pressures on top of higher fuel bills and resistance by shippers to the latest round of freight rate increases.
- Trailer Bridge narrows loss
- Record volume for U.S. intermodal
- Taiwan eases cross-strait shipping rules
- Coalition inviting Iraq port bids
- Descartes loses Oxford to Management Dynamics
- EU ready to end farm export aid
- Pacific International Lines launches Asia/Australia service
- Sea Containers buoyed by box profits
- U.S. files WTO semiconductor complaint against China
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| MAY 10, 2004 |
- Settlement sees Oakland drivers lift port protests
Striking truck drivers in Oakland are back at work today after being offered a 25% increase in their base rate and a 10-12% fuel surcharge to offset high diesel prices.
- Customs blow against ‘grey’ imports hits Russian shippers
Recent rises in Russian duties have left shippers of lower-priced commodities out of pocket and less inclined to buy Asian goods, according to Jan Mortensen, general director, APL CIS.
- Port managed chassis pool to be launched in the US this month
- Additional Taiwan ports open for mainland shipments
- Rail shuttle aims at beating trucks for speed on Turkey to Germany route
- Dongnama to launch Korea/China/Russia pendulum service
- CN completes Midwest rail acquisition
- Oldendorfff orders two 3,500TEU containerships
- Virginia drops controversial tax plans
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| MAY 10, 2004 |
- Takeover bid for MC Shipping
US investor goes after Monaco-based owner with pure-cash offer of $3 a share.
- Maersk Iraq pact to end
Five-year port deal to finish early as coalition hands over power to Iraqi officials June 30.
- A perfect TEN?
Tsakos Energy Navigation rampages to record quarterly earnings, revenues.
- Stolt stutters
Maritime group says complex financial dealings of past year force delay of annual shareholders meeting.
- Bloody Monday
Tanker stocks dive in US amid overall market swoon.
- Oman LNG profit climbs
Middle East producer ups revenue as project expands.
- Nordic American plays it safe
Five year deal for former BP chartered suezmax will underwrite spot market strategy for sisterships.
- Trailer Bridge reports at last
US carrier reveals smaller loss for 2003 in overdue results statement.
- Star Reefers looks to reinvest
After sale of largest vessels Aage Thoen has $40m to spend on developing business.
- Taiwan opens up China routes
Boxship lines could soon sail directly between mainland and island state.
- TEN sells tanker
Tsakos Energy Navigation continues to weed out older single hull tonnage.
- Hyundai talks up Qatar LNG talks
Samho to be roped in on LNG ship construction but all to play for as discussions continue with all yards.
- Cape Africa oil transfer delayed
Sea swell and tug mishap hold up bunker lightering operations.
- MISC fends off CEO speculation
Malaysian giant discounts reports that succession has already been decided.
- Worker dead in STX blaze
Another man in hospital after coating vapours catch fire in tanker at Korean yard.
- Precious rides bulker boom
Expanding Thai bulker owner sees three-fold year-on-year increase in first quarter profits.
- Fire hits MHI newbuilding
Blaze extinguished on ferry at Japanese yard in Nagasaki, scene of Diamond Princess fire.
- Navalmar in for MC Shipping
Bogazzi-owned company revealed as joint buyer, with V.Ships, of contested Vlasov stake.
- Star sells to Chartworld
Norwegian reefer owner picks up $26m from sale of Chacabuco class duo.
- Daewoo still hot for Hanjin
Korean securities house maintains its ‘overweight’ recommendation on compatriot owner’s stock.
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| MAY 10, 2004 |
- Carlyle Group seeks buyer for Horizon Lines
- Trailer Bridge finally reports 4th-quarter loss
- MarAd approves vessel re-flag and scrapping
- New 2,100-TEU ship joins Safmarine's fleet
- NYK sets up Korean bulk and energy shipping arm
- Seabulk licenses docking technology to Spanish tug operator
- Suntek and its former president settle illegal export charges
- U.S. names 16 countries to receive MCA aid
- U.S. agencies seek safe radioactive material transport input
- Canadian agency imposes duties on steel fuel tanks from China, Taiwan
- ITC rules Canadian hog imports injure U.S. producers
- U.S. exporters' textile advisory committee to meet
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| MAY 10, 2004 |
- 36 daily departures from Tallinn to Helsinki
Tallink’s fast ferry "AutoExpress 3" will be put into the Tallinn-Helsinki service on 14 May. The number of daily ...
- A.P. Møller-Mærsk sells two more VLCCs
A.P. Møller-Mærsk has sold the to last units of the first series of double-hull VLCC’s, built in the ...
- Final permission to convert LNG newbuilding
Crossgas Energy, which is a 50/50 joint venture of Golar LNG and Saipem, has obtained approval from Italian authorities ...
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