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| FEBRUARY 26, 2004 |
Shipping News
- Japan to hold anti-piracy drills with Thailand
JAPAN has dispatched a helicopter equipped patrol vessel to participate in antipiracy exercises with Thailand and the Philippines, continuing with its commitment to assist countries in the region in fighting piracy and terrorism at sea.
- Shipwreck blocking Mississippi being removed
SALVAGE divers worked to move a shipwreck that has obstructed the lower Mississippi River since the weekend and bottled up scores of freighters and cruise ships.
- RCL profit down
REGIONAL Container Lines , Thailand's third-biggest shipping company by market value, said profit last year dropped as costs rose.
- China considers building terminal for Aussie LNG
CHINA, the largest energy user after the US, is studying building a liquefied natural gas terminal to supply coastal Shanghai and Zhejiang province with fuel shipped from Western Australia state, said Premier Geoff Gallop.
- Iraqi port to boost oil exports to near pre-war volumes
IRAQ said on Tuesday it was due shortly to open a new oil terminal in the Gulf which will enable Iraq to boost crude exports close to volumes seen before the war.
Air and Land Transport
- Jetstar's A$29 offer sparks price war with Virgin Blue
QANTAS Airways Ltd's discount carrier Jetstar started a price war with Virgin Blue Holdings Ltd, when it offered 100,000 tickets at an introductory price of A$29 . Virgin Blue responded by offering twice as many seats at that price.
- Rolls-Royce: no jump in R&D funds for 7E7
- Lufthansa Technik seeks to bolster business in Asia
- Indian low-cost carrier Air Deccan to buy Airbus jets
- Chinese skies open to foreign airlines via Hainan
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| FEBRUARY 26, 2004 |
- Hong Kong to build logistics park on Lantau island
- China Shipping plans to list CSCL
- Port of Tacoma, Puyallup Tribe to co-operate on container development
- NOL Group reports significant profit for 2003
- Co-Heung switches to bigger ship for Yantai/Pusan service
- Lufthansa Cargo rates from Germany to rise
- Menzies wins Dominican Republic airport contract
- SkyTeam Cargo takes advertising award
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| FEBRUARY 26, 2004 |
- Capacity utilisation of CSL increasing
- MoS revises dredging policy
- Import duty on steel cut by 5 pc
- CII, Myanmar body to set up joint task force to improve trade ties
- Centre likely to amend anti-dumping law
- More S-E Asian nations sourcing soyameal needs from India - With freight rates soaring...
- Officer cadres revamp in Major Ports cleared
- Major reshuffle at P&O Ports, South Asia
- Central Excise officers granted more powers
- Gail invites international bids - Pipes for Dahej-Uran project
- ATF tax cut to boost air traffic
- ECGC introduces maturity factoring instrument
- Foreign Trade Analysis: Current Policy & Procedures
- ECGC signs 7th bancassurance agreement
- Exempt services sector from CVD payment under project import rules: Ficci
- Western Swiss body invites Indian investment
- Fieo unhappy at CBDT’s decision to tax DEPB licence sale proceeds
- DGFT moves expected to cut transaction costs
- Inflation rate goes up by 0.11 pc
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| FEBRUARY 25, 2004 |
- Oil prices surge as US data and OPEC underpin supply worries
OPEC today remained adamant that it will cut quotas by 1 million bpd in April, and cut back on quota cheating to the tune of 1.5 million bpd before then. Add to that evidence that US commercial oil stocks remain wafer thin, and the outlook remains strong although there are fears that speculators have amassed too many long positions.
- Muted demand leaves East Coast suppliers split on pricing
- Salvage work sees Mississippi closure reach Day 6
More than 100 commercial vessels were reported to be awaiting the reopening of the Mississippi River near New Orleans today.
- US oil stocks affected by fall in crude imports, refinery runs
- Russian IFO upsurge threatens English transfer sites
The rapid rise of ship-to-ship transfers of Russian IFO fuel oil cargoes in United Kingdom waters has prompted authorities to consider banning the practise in two sites on the English south coast.
- World Fuels Services announces 53% profit growth
Miami-based marine fuel services provider World Fuel Services Corporation (WFS) today announced an annual profit after tax of $21.9 million for 2003 - a 53% rise year-on-year.
- Abandoned strike does little for Piraeus demand
Workers at two of Piraeus' three refineries were today reported to have abandoned a strike that threatened to disrupt bunker supplies in the port.
- Saudi Arabia: Decreased demand sees avails improve
- Replenishment stocks fail to meet demand in Fujairah
Bunker suppliers in Fujairah said today that replenishment stocks, which arrived earlier this week, could not meet demand in the bunkering hub.
- Tight end of month avails support South Korean numbers
- Rotterdam firm, prompt barges tight
- Lukoil puts faith in Primorsk market growth
Russian bunker supplier Lukoil-Neva LLC has boosted its bunker supply capacity in the port of Primorsk in the Gulf of Finland. With growing tanker traffic, the potential customer base for bunkering at Primorsk is expanding.
- Singapore suppliers responding to Accreditation Scheme
The Maritime and Port Authority of Singapore said today that 70 bunker suppliers in the multi-billion dollar bunker hub had already registered with the authority under its accreditation scheme, launched last April.
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| FEBRUARY 26, 2004 |
- ILT show moves to London
- Exel trial RFID with House of Fraser
- The digital tachograph - when will it come?
- Strong performance by Expeditors boosted by growth in Europe
- Full steam ahead for Rail4chem throughout Netherlands
- BA World Cargo adds capacity in Kenyan Market
- French ports increase handling by 3.5%
- Emirates' Manager to be President of Philippine cargo association
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| FEBRUARY 25, 2004 |
- NOL back firmly in the black with record profits
- Keppel O&M secures S$172m contracts
- Felixstowe gets Chinese cranes
- U-Freight boosts Shanghai office
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| FEBRUARY 25, 2004 |
- Southwest Pass of Mississipi reopens
One-way traffic allowed after removal of capsized OSV
- VT Halter Marine gets stevedoring crane barge order
Will load coal mined in South American operations
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| FEBRUARY 25, 2004 |
- Port of Longview earns honor for Fibre Way Overpass project
- Leader II Shipping receives new tanker
- Port of Olympia prepares for annual boating/chowder event
- Port of Tacoma publishes information source for truckers
- Government figures detail sharp rise in steel imports
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| FEBRUARY 26, 2004 |
- Charter costs threaten Intra-Asian services
INTRA-Asian and feeder operators are warning that if they do not get freight rate increases, services will have to be cut as they cannot cover soaring charter costs.
- Tanker transfers off English south coast may be curbed
TANKER transfers off England’s southern coast could be banned or heavily regulated if local councils can force through regulations that have been in draft since 1997.
- Offen on course for the history books... but will record last?
IN A business where records are being demolished almost daily, German shipowner Claus-Peter Offen is the latest to make history, with reports of an order for nine containerships in excess of 9,000 teu.
- Cosco seals boxship charters
COSCO Container Lines has inked 10-year charter parties for five large post-panamax container ships that will be built by Hyundai Heavy Industries for Greek operator Costamare Shipping.
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| FEBRUARY 25, 2004 |
- Moby goes to market in Milan
MOBY, the Italian ferry operator owned by Vincenzo Onorato, is preparing for a listing on the Milan stock exchange through an initial public offering of a 40% stake
- Irish seafarers hold strike ballot
THE Irish Congress of Trade Unions has became dragged into the Irish Ferries dispute, which today saw 450 seafarers from three of the operator’s four ships laid off
- Maersk boxship leaking pesticide
MAERSK Sealand containership Sealand Pride is leaking the pesticide malathion into the Atlantic Ocean off Charleston, South Carolina
- Mississippi closure hits 100 ships
MORE than 100 commercial vessels await the reopening of the Mississippi river near New Orleans as the Coast Guard continues salvage operations
- Dredging Corp seeks partner
DREDGING Corp of India has appointed consultant PriceWaterhouseCooper to search for suitable foreign dredging companies with a view to forming a joint venture
- Brostrom doubles net profit
BROSTROM, the listed Swedish product tanker company, almost doubled its net profit to SK238M ($29M) last year from SK139M in 2002, driven by higher freight rates
- Stable returns from Halim Mazmin
- Pakistan rejects Australian wheat
- Another start date for SpeedFerries
- American Eagle sets MISC soaring
- EU suspends poultry imports from US
- BIMCO talks up security role
- Strike ballot call at Irish Ferries
- Lagerroos rejects unpatriotic claim
- MOL develops products tanker plan
- Shanghai targets foreign investors
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| FEBRUARY 25, 2004 |
- Coast Guard reopens Mississippi River
Vessel traffic resumed at 1 p.m. after salvage crews cleared the wreck of a sunken supply ship.
- EU readies U.S. trade sanctions
WTO approves retaliation against punitive U.S. anti-dumping duties.
- EU bans U.S. poultry imports
- Canadian National, union resume talks
- Dems: Security improvements needed
- China to spur air cargo growth
- Singapore to cut air freight fees
- FDA slates bioterror rules meetings
- Lufthansa posts $1.24B loss
- Crowley promotes two in Latin America
- FedEx Express adds Saturday service
- Panalpina appoints western N.A. chief
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| FEBRUARY 25, 2004 |
- First box shipped under Operation Safe Commerce security test
The first container to be shipped under the Operation Safe Commerce (OSC) project, assessing supply-chain security, is due to leave Tokyo for the US this week.
- Concern over cuts in Italian budget for transport infrastructure
- Owners’ anxiety ‘completely disappeared’, but they must weigh options, warn brokers
- Port Kembla steps up for Sydney traffic
- OOCL’s lean machine flexes its electronic muscle
- Liner revenues help steer NOL’s return course to profitability
- Sendai attracts Heung-A Shipping
- Senator preaches co-operative philosophy
- Mississippi remains blocked, but ships wait rather than divert
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| FEBRUARY 25, 2004 |
- Mississippi partly re-opened
River opened for one-way traffic under watchful eye of Coast Guard.
- Now Irish Ferries swings axe on staff
Cost-cutting owner lays off 450 workers a day after scrapping sailings on three of its four ships.
- CP Ships raises $200m
Liner company closes convertible note offering at 4%.
- Carnival raises Q1 forecasts
Strong bookings lift cruise giant's profit forecasts.
- World Fuel profits rise
Bunker company declares 2003 a good year.
- Profits slip at Green Reefers
Oslo-listed reefer owner sees finance costs cut earnings in 2003.
- North Sea doldrums hit Farstad
Weak market for supply ships reduced profit at Norwegian owner last year.
- MBC reaches bulker nirvana
Malaysian owner almost doubled profits last year thanks to strong bulk market.
- Eagle takes flight at MISC
Acquisition of American Eagle Tankers boosts Malaysian owner in first nine months.
- MOL in products push
Japanese owner aims for top spot with new LR1 orders.
- New supply ship for Solstad
Norwegian owner signs for NOK 235m vessel at domestic yard Flekkefjord.
- Just in time for Brostrom
Swedish operator banks on finer refinery logistics.
- Same again for Halim Mazmin
Malaysian owner produces almost exactly the same revenue and profit figures in 2003 and 2002.
- Prisco tanker rescues Korean crew
Russian owner’s ship saves 19 men from sinking bulker, but boatswain lost.
- Australia promotes China LNG terminal
As it edges into position to market its Gorgon gas sales to China.
- Taharoa Express passes muster
"Hazardous" NYK bulker completes engine tests off New Zealand.
- Regional Container Lines slides in 2003
Thai intra-Asian containership operator saw net profits slump last year by 35%.
- Profits jump at Labroy
Robust growth in regional oil and gas industry boosts Singapore shipbuilder and shipowner.
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| FEBRUARY 25, 2004 |
- Report: China Shipping plans IPO
- COSCO charters five 8,500-TEU ships
- CP Ships completes $200-million debt issue
- Wallenius Wilhelmsen names new president of Americas region
- MOL expands fleet of product tankers
- Mississippi still blocked; divers recover body from 'Lee III'
- U.S.-EU talks on liberalized aviation pact stall
- Tucker Co. names Tucker CEO
- Customs prepares ABI for Chile, Singapore FTA claims
- FMC reviews 14 OTI applications, revokes 15 licenses
- WTO allows EU to take retaliatory measures against U.S.
- EU bans U.S. poultry imports
- State Department, USAID crack down on overseas taxes on aid
- U.S. soybean shippers applaud China's final safety certification
- WFP worries about food-aid deliveries in Haiti
- GAO: Inland chemical plants are also targets
- Puyallup Tribe will move casino to open up Tacoma port site
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| FEBRUARY 25, 2004 |
- Former Scandlines boss found dead
It is now certain, that Ole Rendbæk, the former CEO of Scandlines committed suicide in December last year. His body ...
- Broström profit up
The Swedish tanker operator Broström reports a SEK 238 million (EUR 25,8 million) profit for 2003, up by SEK 99 ...
- "Unexplainable starboard turn" and passivity caused collision
In the last moment, the district court in Göteborg decided to reject the demand from Stena Line to keep the ...
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