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| JULY 23, 2004 |
Shipping News
- Italy's detention of rescued Africans raises furore
TIED up at a pier in this slumbering Sicilian harbour, the Cap Anamur looks like nothing so much as an obsolete freighter ready for scrapping.
- John Keells expects 40% rise in earnings
JOHN Keells Holdings, Sri Lanka's biggest non-state company by sales, expects full-year profit to rise 40 per cent to 2.7 billion rupees , boosted by its transportation business, a senior executive said.
- 90% of oil from Prestige to be removed by Oct
MOST of the tar-like oil from the tanker Prestige that sank off Spain's northwest coast two years ago will be recovered by mid-October, the company in charge of the cleanup said.
- Clauses developed for security costs
THE Baltic and International Maritime Council has developed clauses for use in shipping contracts to help shipowners and charterers allocate costs stemming from anti-terrorism rules introduced this month.
- Product tanker rates fall as Japan's demand slows
ASIAN freight rates for shipping jet fuel, gasoline and other petroleum products fell to a one-month low as Japan's consumption of motor fuels may slow after August, slowing demand for ships on the route between Singapore and Japan.
- Vintage beauties
OLD classic sailing ships coming from all around the world race off Brest, Brittany, last week.
Air and Land Transport
- India domestic carriers locked in price war
AIR ticket prices in India have dropped to the level of railway fares amid a cut-throat price war by domestic airlines, even as fresh competition looms from a host of no-frills carriers waiting in the wings.
- Flight attendants sue BA for sex bias
- BAA to sue Ryanair over unpaid fees
- Gains for AMR, America West in Q2
- Bathroom duty for US airport execs
- Aircraft makers land more jet orders
Admiralty Casebook
- Lloyd's definition of its services fails to convince Canada court
AN employment dispute between a marine surveyor and the Lloyd's Register North America recently led to a court appeal by the classification society at which it argued that it was not really essential to the operation of shipping in Canada.
Port Shots
- port shots
PORTS of Auckland Ltd, New Zealand's largest port, said it handled 2 per cent more containers in the year ended June 30.
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| JULY 23, 2004 |
- Hong Kong qualifies for US quality ship scheme
- Container distribution centre in SW China to be built
- Alternative to HK, Guangdong ports service launched
- New measures in Australia to boost maritime security
- Pacific CMA acquires 60pc of AGI Freight Singapore
- Canada Maritime expands pacific services
- Rickmers Linie transports yellow submarine to South Korea
- Dragonair posts rise in cargo volume for June
- First terminal in Asia for low-cost airlines in Singapore being built
- Delta reports second quarter net loss
- Lufthansa Cargo expands cd.Solutions product line
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| JULY 23, 2004 |
- Tanker owners set to reap super profits as oil demand soars
- Varun Shipping posts 135 pc rise in net profit
- Exports log impressive 28 pc rise in Q1
- Tariff Commission to examine imported LNG pricing mechanism
- Healthcare exports now Fieo’s mission
- Israel honours Ficci with award for boosting trade relations
- Marginal rise in coir exports during Q1
- JNP’s 4th container terminal estimated to cost Rs 3,500 cr.
- Minister throws light on rail link to Hazira port
- Ficci makes out convincing case for extending export incentives to entertainment sector
- DIT projects infotech sector to account for 7 pc of GDP, 35 pc of exports by 2008
- Rajasthan move to form SEZs for wool, ceramics
- Letter to the Editor
- J.J. Irani confers IMC’s Quality Trophy to Dr Juran, honours Suresh Lulla
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| JULY 22, 2004 |
- LG-Caltex restarts bunker supply despite force majeure
LG-Caltex has restarted offering bunker fuel, despite declaring force majeure on the company's exports following a strike at the company's 650,000 barrels per day (bpd) Yeosu refinery in South Korea.
- Venezuelan cargoes rescue Argentina and Uruguay markets
Fuel oil cargoes from Venezuela sees replenishment process begin for long-suffering bunker suppliers.
- Greek trader leaves after brief association
- Two-tier market still evident in Japan
Although most reports indicate tight avails for the balance of July, some still appear to have product left to sell.
- Genoa's thirst parches Italian avails
Exacerbating the supply situation, domestic refineries in the country have switched production from bunkers to other products for the time being, players said.
- Rotterdam bunker sales up 13% for year so far
Boom in container traffic taking on larger stems and favourable price differential with Asia confirm Rotterdam as world's second largest bunkering hub.
- Rotterdam bunker market still firm and congested
- Suppliers lament NYMEX's growing influence
US east coast suppliers complain of increasing reliance upon NYMEX and other trading floors to set bunker fuel prices that often belie fundamentals on the ground.
- EU legislators 'are listening'
Industry sources have expressed concerns that legislators are not armed with enough knowledge of shipping to implement sulphur legislation sensibly, however Bunkerworld has been informed they are listening.
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| JULY 22, 2004 |
- BNSF launches its new, web-based "TransBid"
- Turkey to lift ban on Cyprus-flagged vessels?
- Rhenus Alpina AG to have holding structure as of 2005
- Moody's: BAA3 for the Russian railway RZD
- Lufthansa’s cd.Solutions now in Munich and Cologne
- DFDS consolidates its position in the Baltic
- A change of seats at AON Jauch & Hübner
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| JULY 22, 2004 |
- LR in 17-ship China deal
- US dismisses ILO seafarers’ ID cards
- UK’s wind farm trial
- Smit exercise option at Keppel
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| JULY 22, 2004 |
- S&P lowers American Club rating
- Keppel Offshore & Marine secures offshore contracts
- Teekay joins the record breakers
- Paris MOU eports on ISPS enforcement
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| JULY 22, 2004 |
- Corps schedules closure of John Day navigation lock
- TSA allocates grant funds for Columbia/Snake security project
- ITC releases annual Year in Trade publication
- Wood products association reports gain in lumber production
- DOT looks at fines for pair of pipeline operators
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| JULY 23, 2004 |
- Owner alarm over IACS bulker rules
INDUSTRY fears are starting to emerge that draft common structural rules for tankers and bulkers, first presented by the International Association of Classification Societies barely a month ago, may not be good enough.
- Class societies in deadline debate
CLASS is listening to owner discontent that not enough time has been allocated to consider new common rules on oil tanker structures, but the societies involved will have to consult over whether the period for comment deadline should be extended, writes Hugh O’Mahony.
- MSC unveils European Stars plan
MSC Cruises has announced plans to bring into service the former Festival Cruises ship, European Stars , next March under the name MSC Sinfonia.
- Legal expert warns owners of fines threat from EU directive
Shipowners may find their businesses under threat from huge penalties if they fail to find cover for "criminal" fines following the entry into force of a proposed EU directive targeting polluters, according to Fozeia Rana of law firm Elborne Mitchell.
- Savage appointment to calm restless natives at Lloyd’s
LLOYD'S has brought in an outsider from investment banking, Luke Savage, as its new finance director.
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| JULY 22, 2004 |
- Lines consider Lagos boycott
OVER-ZEALOUS new customs regulations at the port of Lagos, Nigeria, have resulted in a number of shipping lines considering a boycott of the port
- SCI rejects Moroccan liner service
SHIPPING Corp of India (SCI) has snubbed a request by the Moroccan government to start a liner service between the two countries in order to boost bilateral trade
- Crawford steps up at MC Shipping
A top table reshuffle sees Tony Crawford take over as chief executive and president of Monaco-based MC Shipping from 1 August
- NZ ferry Aratere once again adrift
NEW Zealand Interisland Line ferry Aratere, with 140 passengers on board, was stranded with propulsion problems in the Cook Strait in 40-kt southerlies this afternoon
- Record quarter for Teekay
TEEKAY Shipping announced record net income levels in its quarterly financial statement released yesterday
- Fire on vessel at Cochin Shipyard
THE engine room of the 492gt passenger ferry Dweep Setu, owned by the Indian government, caught fire this afternoon while in drydock at Cochin Shipyard
- India opens communications centre
- British Waterways targets freight
- Gulf of Mexico LNG proposal
- Indian transport strike threat
- MSC takes European Stars for €220M
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| JULY 22, 2004 |
- Miami shrinks boycott backlog
Stacks of containers that piled up during trucker boycott cut by two-thirds, more boxes being released, says terminal operator.
- LA adds 1,000 dockworkers, but vessels still wait
- House approves Coast Guard bill
- U.S. scuttles visas for ships' crews
- UPS profits jump 18 percent in 2Q
- Pilots chide UPS contract optimism
- Service issues hurt Union Pacific results
- Horizon Lines expands U.S.-Puerto Rico service
- First half portends record year for Montreal
- Intermodal drives Hub earnings
- Box throughput soars at Pakistan port
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| JULY 22, 2004 |
- CIMC estimates H1 net profit have surged 150% to 200%
China International Marine Containers (CIMC) is forecast to enjoy 150%-200% growth in H1 net profit, following a 77% growth in Q1 net profit to RMB184.7million (US$22.3million).
- CN calls for haulier co-operation to run Brampton as ‘transfer facility’
- Sailing swiftly: maritime bill navigates House of Representatives
- Olya captures Caspian dream with rail-line completion
- Hupac rolls on toward achieving double-volume strategy
- Swiss government takes its boring project NEAT
- Korea unveils measures to raise competitiveness of the shipping and logistics industry
- MC Shipping management shuffle
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| JULY 22, 2004 |
- Change at the top at MC
Investor V Ships installs own man as head of New York-listed lpg operator.
- Options, options...
Carnival awards non-exec directors, including new man Richard Glasier, 10,000 options each.
- Jinhui sets out losses
Freight future agreements to cost bulker owner as much as $70m in first half.
- BGV draws up ferry blueprint
French design company hoping to sell new range of fast ferries to shipowners.
- British Marine gets an A-
Former insurance club rewarded for doubled profit with rating agency upgrade.
- American Club downgraded
Troubled P&I club is knocked back to marginal "BB+" status by Standard & Poor’s.
- BC Ferries to order overseas
Up to three lucrative deals to go to Finnish or German yards, angering Canadian yard union.
- Ukraine yard-sale double
State to sell Kherson Shipyard and chunk of Sevastopol plant.
- Daewoo upbeat on owners
Korean securities house sees 20-30% upside on Hanjin and Hyundai on rate rises and restructuring.
- DVB Bank profits up
Though so, too, are provisions for bad loans.
- ASRY ups ante
Bahrain shiprepairer boosted turnover in first half as VLCCs arrived in healthy numbers.
- Piracy in first half decline
Attacks reported in first half of the year have declined by over 20% compared to a year ago.
- Keppel bolsters orderbook
Singapore shipbuilder and conversion yard picks up anchor handler newbuilding option and rig upgrade.
- Teekay surfs the tanker wave
Increased fixed rate business and Tapias input push aframax king to record second quarter.
- Precious buys more stock
Thai owner edges closer to halfway in share buyback plan with purchase of 700,000 shares.
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| JULY 22, 2004 |
- House passes $8.2 billion Coast Guard authorization bill
- China Shipping expands, adds ships
- Teekay's profits keep rolling in
- EC seeks dismantling of transatlantic aviation agreements
- New draft trade agreement discussed at WTO
- Goebel goes to Gibson, Dunn & Crutcher
- Commerce backs down on controls for copper scrap exports
- Bush administration promotes exports from post-civil war Haiti
- Vancouver port chief predicts 140% traffic growth by 2020 for PNW ports
- Simmers appointed chairman, CEO of Yusen Terminals
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