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| NOVEMBER 16, 2004 |
Shipping News
- High steel prices, weak US$ hurting Korean shipyards
THE impact of the decline of the US dollar and the global shortage of steel have begun to show in the earnings of the world's biggest shipbuilders.
- Aussie ports to test high-tech acoustic fences
IN a bid to address a widely acknowledged gap in global port security, two Australian ports are set to test out high-tech 'acoustic fences' capable of detecting incursions by small boats and divers.
- Frontline's Q3 earnings quadruple
FRONTLINE Ltd, the world's biggest oil tanker company, said third-quarter profit quadrupled to a record and earnings next quarter will be twice as high as demand for vessels outpaces supply.
- P&O Ports' Philippine unit posts 17% fall in profits
- Indian companies to partner Iran in port, rail projects
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| NOVEMBER 16, 2004 |
- Shenzhen-Hong Kong bridge to be completed in 2005
- POAL considers buying stake in port corporation
- Yunnan Customs checkpoint upgraded
- RPONL CEO notes magnet's growing stake in company
- Seattle posts record throughput in September
- Brunswick containerisation plan nixed
- Air cargo traffic at HKIA grows in October
- US TSA unveils air cargo security plan
- AirAsia to expand network to China
- China Southern buys airlines
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| NOVEMBER 16, 2004 |
- Keel laid for Denmark company’s bulk carrier at Cochin Shipyard
- Dubai positions itself as regional cruise hub
- Safmarine wins maritime innovation award
- Anti-dumping duty on lead acid batteries imports to be withdrawn
- India-Turkey trade poised to touch $ 1 bn
- EU wants facility to exchange trade data
- UP plans to export 2,500 tonnes of potato
- Oilmeal exports shoot up by 132 pc
- Vizhinjam, Cochin ICTTs may wean away part of Colombo’s box traffic
- New Mangalore Port augmenting facilities
- Exempt transport of export cargo by sea too from service tax—WISA
- Steel prices may be jacked up again
- Govt extends excise duty exemption to new units in Kutch by a year
- Comprehensive definition of services exports liable to tax being worked out
- Availing of export credit refinance proves more lucrative for banks
- IMC team briefs FM about exporters’ problems
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| NOVEMBER 15, 2004 |
- US Gulf bunker prices collapse 43% in 30 days
Aggressive local markets combined with bearish crude sentiment sees IFO380 bunker prices almost half in 30 days in Houston and New Orleans.
- Oil, bunker prices fall on Iranian cessation
New York crude oil levels fall to two-month low and bunker prices in world's major ports continue to slide as tensions appear to ease in Middle East.
- Marine fuel tops bill at Prague energy briefing
- Russia: New tax claims not seen as another Yukos affair
Tax claim against TNK-BP downplayed as an 'adjustment' and not another raft of tax claims against Russian oil companies.
- Gibraltar softens further as demand increases
- Durban operator to increase barge rates
One of the port's two bunker barge operators has announced a rate increase.
- Romanian supplier expands to meet demand
Romanian bunker supplier Unicom Holding S.A. will soon be offering IFO380, previously unavailable in Romania, to vessels calling at Constantza following a major expansion of its bunkering operations.
- Rotterdam slips lower with crude
- Traders predict sharp fall in Korean bunkers
While Korean prices remain high compared to competing markets, Korean traders expect prices to come down heavily.
- Large bunker spill feared after freighter smashes breakwater
The Japan Coast Guard is battling to prevent a major environmental disaster after a freighter smashed into a breakwater in northern Japan.
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| NOVEMBER 15, 2004 |
- Frontline’s best ever Q3
- Camillo Eitzen’s Q3 earnings dip
- MOL to order 10 more large car carriers
- Stelmar board urges green light for sale to Fortress
- Lintec supports Singapore sample size rules
- Griffin and InterARGO merge crew travel operations
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| NOVEMBER 15, 2004 |
- Siem buys Halliburton Subsea7 stake
- VT Halter low bidder on Steamship Authority ferry
- Customs: EU and U.S. act on container security
- American salvors agree key initiatives
- Zim in $732 million expansion
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| NOVEMBER 15, 2004 |
- Matson sets new round of rate/charge increases
- Port of Seattle wins award for Sea-Tac Airport improvements
- Port of Portland offers tips for holiday air travel
- Mitsui plans to build ten new car carriers
- Coast Guard honors surfmen at Illwaco, Washington ceremony
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| NOVEMBER 16, 2004 |
- Stakes raised for Stelmar’s D-day
Stelmar Shipping’s proposed takeover by Fortress Investment Group seemed to hang in the balance last night as both ‘Yes’ and ‘No’ camps cranked up the pressure ahead of the merger vote by Stelmar shareholders scheduled for later today in a Manhattan hotel.
- Shareholders in line for bumper payout as Frontline heads for record earnings
FRONTLINE’S shareholders are enjoying a cash and shares bonanza as the world’s largest tanker owner heads for record quarterly earnings in the final three months of the year.
- Seven crew die in Marine Osaka tragedy
SEVEN people have been confirmed dead following the sinking of the South Korean flag Marine Osaka.
- Deadline for Lloyd’s List nominations
DO you believe your company is setting the benchmark for the maritime industry? Or perhaps you feel that one of your clients or suppliers is worthy of praise for outstanding performance?
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| NOVEMBER 15, 2004 |
- MC's Crawford grateful for profit
MC Shipping has blamed "poor results" in its third quarter on efforts to "clean up" the company. Profits of $494,000 on revenues of $8.1M were posted, compared with profits of $1.4M on revenues of $7.9M during the same period last year
- NYK ties up with Sovcomflot
NYK has teamed up for the first time with Russian shipping company Sovcomflot to transport LNG
- Busan terminals working non-stop
ALL six terminals in Korea’s biggest container port of Busan are now functional for 24 hours following Korea Hutchison Terminal’s decision to introduce a round-the-clock operation system for its Jasungdae facility
- New box berth for Felixstowe
THE last berth capable of accommodating the biggest containerships to become operational in the UK for at least two years was commissioned today at Felixstowe
- UK tonnage tax in crisis debate
A UK seafarer union is to host a seminar telling politicians why ships operating in the tonnage tax regime should be obliged to employ a minimum number of UK seafarers
- Fortress: 11th-hour Stelmar offer
FORTRESS Investments has raised its offer for Stelmar Shipping to $40 per share on the eve of tomorrow's special meeting in New York
- Germany reaches subsidy compromise
- New order averts damaging protest
- Good rates for larger boxships
- Guatemala opens cruise terminal
- Unlucky Shamrock changes hands
- Frontline goes dry on 1 December
- Port contractor under investigation
- Class cautious about Marina rethink
- Transneft ditches pipeline plan
- India seeks gas compromise
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| NOVEMBER 15, 2004 |
- LA-Long Beach beating pier pressure
Extra longshoremen, fewer calls finally helping to clear congestion at largest container gateway.
- EU, U.S. team on container security
European Union adopts first measures aimed at resolving trans-Atlantic dispute over how to protect global supply chain from terrorist attacks.
- CP Ships net up
- Hamburg Süd working around LA
- More funding expected for NY barge service
- Schneider National unveils new container
- Alabama Ports mull security fees
- Boeing plans 777 freighter
- Portland CFO retires
- Seattle CEO keynotes RFID seminar
- Tippit wins IANA Silver Kingpin award
- New India rail box shipper
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| NOVEMBER 15, 2004 |
- HPH sucked into Dutch financial scandal
Hong Kong port operator Hutchison Port Holdings (HPH) has been linked to the Rottergate financial scandal, lending €20 (US$25.86) million to the ailing RDM defence group in May 2004.
- Atlantic continues to plague CP Ships
CP Ships continues to struggle in its core market with its Atlantic Q3 operating income collapsing to less than half of its 2003 third quarter value.
- Maersk Logistics enters into second Chinese partnership
- Shanghai’s port users are caught between the devil and the deep blue sea
- Record results reduce HMM debts
- Malaysian haulier sees sense in total logistics
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| NOVEMBER 15, 2004 |
- Good times too good to last
Frontline shipowning offshoot warns that freight rates that pay for a tanker in two years must fall.
- Pay off hits MC profit
LPG operator pays a price for severance deal with former chief executive Guy Morel and legacy charters.
- Keep your 'nickels and dimes'
The Haji-Ioannous are rejecting an improved Stelmar takeover offer and want heads to roll after tomorrow's vote.
- Miles under the loupe?
CP Ships is investigating insider trading and promising to get right with Sarbanes-Oxley.
- Attica on the climb
Superfast and Blue Star are swelling the till at Pericles Panagopoulos's Attica group.
- Sonatrach confirms LNG option
Algerian owner gives go ahead to build second "medmax" ship at Universal in Japan.
- Hanjin doubles its money
Korean boxship player notches up big rise in earnings in first nine months of 2004.
- Frontline nears record
Share price at close to 12 month high as tankers again prove a licence to print money.
- Ultrapetrol raises $180m
Shipping-hungry bond market gives up $30m more than expected to South American owner.
- Daewoo struggling too
Another Korean yard announces big drop in third quarter profit.
- TTA turns it on
Thai bulker owner boosted by better freight markets in year to 30 September.
- Currency clobbers Samsung
Korean shipbuilder’s third quarter profit hit by falling US dollar and bond buy-back.
- Frontline rides the bull
Top tanker company believes strong market will continue despite $17.2m freight futures loss.
- LNG lifesaver for Izar yard
Spanish utility Gas Natural throws La Naval shipyard a lifeline?
- Norwegians bolt from Stolt
Shipowner Christen Sveaas and lawyer Erling Hjort are on their bikes.
- Two die in Algerian storms
Crew from SNTM and Turkish vessels lost in high seas off Algiers.
- Camillo Eitzen stays cautious
Profitability of Norwegian shipping group declines as charter costs rise and it takes a conservative view of Chinese bulk market.
- Earnings escalate at HMM
Korean owner boosts profit by more than 1,000% in nine months to end-September.
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| NOVEMBER 15, 2004 |
- EU, U.S. agree on maritime container security measures
- CMA CGM will not add own ships in Atlantic
- Coast Guard issues latest noncompliant country list
- China Shipping phases in new mega-ship into Pacific trade
- Matson raises Hawaii freight rates
- Grand Alliance, CP Ships to omit Atlantic calls
- United Airlines expands California/Japan service
- Hoffa calls for State Department to investigate El Salvador murder
- Texas judge will confront FRA after latest UP death
- Owens to manage C-TPAT program
- U.S. textile makers file 9th petition against Chinese imports
- BIS removes four Russian firms from its "Entity List"
- USTR extends GSP petition deadline to Dec. 13
- China trade to cool off
- Sacamano joins AAEI
- Rumsfeld praises Panama for protecting the canal
- Metropolitan to handle Chiquita in Port of Hueneme
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| NOVEMBER 15, 2004 |
- A.P. Møller-Mærsk lift options on LNG’s
A.P. Møller-Mærsk has signed up with Samsung Heavy Industries for further two LNG carriers of a larger type. The ...
- Faroe Island wants to develop ship register
Faroe Island’s ship register is to be made more internationally competitive by introduction of a tonnage tax system and other ...
- Broström plans share issue for expansion
The Swedish tanker specialist Broström will issue 6.3 million B-shares to finance purchases of outstanding parts in part-owned ...
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