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| NOVEMBER 22, 2004 |
Shipping News
- Rally in shipping stocks expected to continue
SINGAPORE-listed shipping companies will continue to enjoy steady earnings growth in the medium term as freight and charter rates remain underpinned by a combination of strong demand for shipping space and increasing capacity shortage, say analysts.
- No end in sight to China's transport bottlenecks
CHINA's chronic railway bottlenecks which have caused lengthy delays in delivery of coal, iron ore and oil are expected to continue next year even as the country's economic growth slows, analysts say.
- Ship diversions, more workers ease US port congestions
A ship logjam that caused protracted freight backups at America's largest port complex has been cleared, officials said, but the timely flow of cargo remains hampered by ongoing delays in moving cargo out of jammed port terminals.
- Australia planning another container port at Hastings
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| NOVEMBER 22, 2004 |
- Egg noodles exports rise after bird flu disappears
- Third Party Logistics in China needs improved policies
- CP Ships announce new VP
- Tianjin to Beijing in 30 minutes by 2007
- MOL Logistics opens new branch in Zhangjiagang
- MSC approved by Port of Marseilles
- Norasia adds vessel to RTW service
- Asia/WCSA announce business plan for 2005
- Record throughput at Hekou checkpoint
- Guangdong invests US$60 billion to boost shipping
- Continental seeks further salary and benefits cuts
- New Sino-Macau air pact boosts cargo capacity
- Lufthansa Cargo takes delivery of converted aircraft
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| NOVEMBER 22, 2004 |
- Norasia strengthens RTW service
- 18 port projects approved, says Baalu
- Exim Bank disburses Rs 4,400 cr. in April-Sept.
- Gems, jewellery exports register sparkling 34 pc increase in April-October
- Apparel exports post hefty 14.5 pc rise in value terms during January-October
- Rubber export subsidy for 2004-05 halved
- Trade with Myanmar in freely convertible currency allowed
- Edible oil imports rise by 32 pc in Oct.
- India to take up US, EU's high textile tariffs at Geneva meet
- Emirates net shoots up by impressive 41 pc
- Air-India to introduce 4 more services to US
- TCI to widen use of global positioning system
- Mumbai-Ahmedabad bullet train service planned
- Consultative panel favours curbs on iron ore exports
- Exim Bank bets big on agro, food processing industries in EOU sector
- SMEs to get $ 120 m World Bank aid
- FM promises fiscal steps to rein in inflation
- Official hints at major tax reforms, curbs on concessions in new Budget
- CMIE projects 3 pc rise in summer grains output
- Kamal Nath moots joint study group on economic cooperation agreement with Russia
- Gold lends glitter to forex pile
- FFFAI delegation off to attend ASEAN FFA AGM in Yangon
- IFTDO meet in Delhi from today
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| NOVEMBER 19, 2004 |
- OPEC: Heavy crude processing key to lower prices
Cartel says that flexibility of refiners to process heavy crudes vital to keeping prices down and ensuring stable market, 2005 oil demand forecast revised lower.
- Factors conspire to halt Black Sea product shipments
Volga-Don channel set to reopen but port closures and delays in the Turkish Straits frustrate rush to export Russian crude and oil products before winter closure.
- Rotterdam firms up into weekend
- Royal Vopak reports solid Q3 profits despite weaker dollar
Royal Vopak today announced solid third quarter profits, helped by improvements in the Rotterdam and Singapore bunker markets.
- Bunker barges in Paranagua mobilised to assist spill clean-up
Bunker barges in the port of Paranagua have been mobilised to assist in a bunker spill clean up operation after a chemical tanker explosion in the port.
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| NOVEMBER 22, 2004 |
- Data Burst offers low-cost tracking through laptops
- France: TLF and FNTR demand HGV, fuel tax harmonisation
- John Nurminen: Finnish chemical logistics terminal is finished
- Dispute over PKP pallets continues
- Luton Airport joint venture to be bought out?
- Crosslinks starts Algerian service
- Norfolk Southern names new president and senior management
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| NOVEMBER 19, 2004 |
- Mangouras allowed home, for a while
- ISPS "is bad for seafarers’ welfare"
- IRS claims CAP success
- Stelmar row continues
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| NOVEMBER 20, 2004 |
- Rochester unveils ferry plan
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| NOVEMBER 19, 2004 |
- Royal Caribbean taps Springfield, Or. as site of new customer service center
- US rail freight traffic maintains positive position
- Carnival will help refurbish Jacques Cousteau's vessel CALYPSO
- Port of Seattle CEO will speak at RFID event
- LA/Long Beach congestion has Hamburg Süd making changes
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| NOVEMBER 22, 2004 |
- Britain pledges fight over EU ports directive
OPPONENTS of the European Commission’s renewed attempt to regulate port services have won a powerful ally, with Britain promising to use its European Union presidency beginning in January to mount a challenge to Brussels.
- Georgiopoulos grabs Cofco bulker fleet
THE long drawn out departure from the world of shipping by China’s state-run food agency, China National Cereals, Oil and Foodstuffs Import and Export Corp (Cofco), is over with Peter Georgiopoulos of General Maritime fame paying $420m for 16 bulk carriers.
- DNV lists detention causes
FAULTY lifeboats, defective fire pumps, and corroded ventilation systems are the three most common reasons to detain a ship, writes Janet Porter.
- Past crime haunts Barrot
JACQUES Barrot’s tenure as European Union transport commissioner begins under a cloud today following revelations last week that he was convicted by a French court for misuse of public funds, writes Justin Stares in Brussels .
- Paranagua berths stay shut after tanker blast
Three fuel berths including Petrolbras’ at Brazil’s main grain port of Paranagua remain inoperative in the aftermath of a deadly ship explosion last Monday, Reuters reports .
- Hansa Shipping joins Aframax International
A NEW member has joined the Aframax International tanker pool, which was founded by Overseas Shipholding Group and PDV Marina, writes Tony Gray.
- Bergesen joins rush to refinance
Bergesen, the leading Norwegian bulk shipowner acquired last year by Helmut Sohmen’s World-Wide Shipping, is set to become the latest leading owner to refinance and consolidate existing debt at lower margins, writes Tony Gray.
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| NOVEMBER 19, 2004 |
- Georgiopoulos in $420M bulker deal
GENCO, a new private company led by General Maritime chairman Peter Georgiopoulos, has purchased the bulk carrier fleet of China's Cofco
- Bid blocked, charges P&O Nedlloyd
P&O Nedlloyd Container Line is suing the Port of Los Angeles accusing the mayor’s office of blocking its bid for the so-called "green terminals."
- STX Pan Ocean to be listed
THE STX Group is planning an overseas listing of its new acquisition, the former Pan Ocean
- Tianjin eyes box hub status
TIANJIN port in northern China aims is aspiring for north-east container hub status and aims to expand capacity to handle 10M TEU annually by 2010
- China to sustain 9% GDP growth
CHINA’S booming economy, which has triggered the upsurge in world shipping, will grow by "around nine per cent" in 2004, Chinese President Hu Jintao has said
- Paranagua terminals still closed
PARANAGUA port head Eduardo Requiao has ordered that the Petrobras oil terminal and the Fospar fertiliser terminal must remain closed
- Paranagua's Requiao slams critics
- Union to reject new ABP offer
- New US 'mad cow' scare
- Bulker rejects damage assessment
- Congestion fully cleared at LA-LB
- New Orleans leads Gulf security fees
- Seafarer dies in Greek sinking
- Have your say!
- PSA loses Hong Kong bid
- Keppel Verolme gets Solitaire job
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| NOVEMBER 19, 2004 |
- Record volume for West Coast ports
Containerized imports from Asia peaked in October as several West Coast ports reported record cargo volumes.
- Gulf ports set security fees
Tariff changes slated for next spring to offset rising costs of federal security mandates.
- Seattle volume soars
- FMC extends comment period on NVO contracts
- FedEx, others press Bush on trade as China's power grows
- Trailer Bridge ups bond offer
- UPS sets quarterly dividend
- BNSF adds transload to Texas center
- World economy to weaken: Survey
- New bridge to link Asia box rivals
- MOL Logistics opens Zhangjiagang office
- Emirates lands record results
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| NOVEMBER 19, 2004 |
- Californian anti-congestion measures kick-in
The number of containerships waiting to enter the ports of LA/Long Beach eased dramatically this week with only six vessels waiting at anchor today, all containerships, said the Marine Exchange of Southern California.
- Australian importers attack container detention charges
Carriers’ efforts to keep in-demand containers moving have come under attack from transport groups in Australia, who are warning members they face significant financial penalties.
- Zim and China Shipping to start direct Asia/Black Sea link
- Dutch want Rottergate assurances before agreeing second Maasvlakte
- China/EU step up maritime co-operation
- Norasia adds vessel to RTW
- China volumes surge again
- Mumbai trust rejects need for congestion charges
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| NOVEMBER 19, 2004 |
- Pasha Hawaii wins deal from Matson
Van Ommeren USA joint venture signs new Hawaiin contract with Chrysler.
- HMM expands tanker fleet
Korean owner snaps up VLCC and two product carriers.
- Bergesen World-Wide refinances
Substantial reduction in interest costs in prospect for loans that helped Helmut Sohmen buy Norwegian shipping group.
- US probes fuel spill
Japanese shipowner comes clean over leak from ro-ro’s fuel tanks off Savannah.
- Kent Navigator in trouble again
Canada detained structurally defective bulker in October that was prosecuted by US for oil dumping.
- Oz cattle stuck on ship
Another laden livestock carrier is in Middle Eastern limbo.
- City mulls ferry buy
Rochester could take over failed Lake Ontario service.
- Massoel sells more bulkers
Croatia’s Atlantska Plovidba follows compatriot Tankerska in raiding Swiss owner.
- Georgiopoulos lands bulkers
Genmar chief’s new venture Genco to buy 16 ships from Top Glory of Hong Kong.
- Stickle in a pickle
Court told that Sabine Transportation owner was involved in spill conspiracy “up to his nose.”
- Jinhui in fresh buyback
Jinhui Shipping has spent $12.6m buying back and cancelling stock after a bull run.
- Cook dies as ship sinks
Eleven other crew rescued after Greece’s Avantis III hits reef near Athens.
- Namura profit shrinks
Japanese yard struggles in first half but remains confident of turning it around.
- Japanese trio in profit
Smaller owners Meiji, Tamai and Tokai post positive earnings in first half.
- Keppel plays Solitaire
Legal battle surrounding ship doesn’t stop second Singapore yard winning conversion work.
- TFDS out of offshore
Lars Peder Solstad's Solstad Offshore is buying a compatriot out of the offshore business.
- Cosco exec set for windfall
Director of Singapore subsidiary looking at major payday after exercising big chunk of stock options.
- Fione refloated off UK
German-owned general cargo vessel taken off rocks at Margate.
- OMI to Stelmar: Drop Dead!
CEO Stevenson says he's been teaching a stream of callers the spelling of the word 'NO.'
- Oops!
Chemical tanker grounds after Tunis port officials allegedly get draft wrong by 3.5 metres.
- Navibulgar shines before sell-off
Bulgarian state owner expects big profit for 2004, which should ensure healthy interest for upcoming share auction.
- Cosco ties up with Huaneng
State-owned shipping giant becomes "long-term" carrier for top Chinese electricity producer.
- Hansa joins tanker pool
Aframax International Pool welcomes its seventh member and takes fleet to thirty-eight ships.
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| NOVEMBER 19, 2004 |
- Analyst expects "major downturn" in container shipping in 2006
- Hyundai's net profit increases 10-fold
- Terms of Trailer Bridge borrowing finalized
- Carriers add 13th ship to round-the-world service
- Europe/West Africa carriers add Dakar congestion charge
- Continental seeks $500 million from workers
- Hai Win to start monthly China/Australia link
- Moyes: Expect higher trucking rates
- Blust: NVO contracts are "significant" changes since OSRA
- NACA Logistics picks Freightgate software
- Phoenix International opens Charleston, S.C. branch office
- Ridge: U.S. security depends on international cargo standards
- USDA reveals possible second "mad cow" case
- Pacific CMA improves revenue results
- EC approves sale of Maersk Data to IBM
- Long Beach box traffic up 28% in October
- Port of New Orleans approves security fees
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| NOVEMBER 19, 2004 |
- Operation merger Fjord Line-Smyril Line
Fjord Line AS of Bergen and PF Smyril Line of Torshavn have agreed to an operational merger in a jointly ...
- Camillo Eitzen secures LPG deal
Camillo Eitzen has secured a 7 year T/C, including a purchase option, for a 5,000 cbm pressurised LPG carrier ...
- Mangouras can go home
A Spanish court has granted Apostolos Mangouras, the master of the "Prestige", permission to travel to his native Greece for ...
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