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| MAY 26, 2004 |
Shipping News
- IMO urged to help end piracy menace
ASIAN shipowners have called upon their respective governments to work with the International Maritime Organisation to find an effective solution for the ongoing problem of piracy and armed robbery in the Malacca and Singapore Straits.
- Throw your weight behind IMO: Cheow Tong
TRANSPORT Minister Yeo Cheow Tong yesterday made a strong call for a unified and global support for the work of the International Maritime Organisation and urged individual countries and regional blocs not to make unilateral decisions where international solutions are required.
- S'pore to sponsor lectures at World Maritime University
THE newly formed Singapore Maritime Foundation is introducing an Asian Maritime Lecture series at the World Maritime University in Malmo, Sweden, in an attempt to broaden insights on Asian maritime issues and policies among the university's graduates.
- Pirates take 4 Thai fishermen hostage
ARMED pirates believed to be Indonesians have kidnapped four Thai fishermen in the busy Malacca Straits off Malaysia's Penang state, police officials said yesterday Guan Beng Kang, deputy police chief in Balik Pulau district, said the pirates have demanded a 40,000 ringgit .
- TANKER MARKET
VELA International Marine Ltd, a unit of Saudi Aramco, the world's biggest oil company, hired three tankers with capacity of two million barrels each to ship oil to the US as fuel demand rises, brokers
Air and Land Transport
- Qantas' low-cost arm JetStar takes off
AUSTRALIA's newest domestic airline took to the skies yesterday as market leader Qantas Airways Ltd launched its own no-fills carrier to challenge Richard Branson's discount rival Virgin Blue.
- Paris airport roof collapse a big blow to Air France's hub plans
- Boeing bets on efficiency, comfort for new 7E7 jet
- Iraq expects Airbus plane deal
Strait Talk
- Double-hulled bulkers: IMO stops chasing a red herring
LAST week, something very unusual occurred. The International Maritime Organisation's Maritime Safety Committee took a formal vote.
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| MAY 26, 2004 |
- Shipping lines begin weekly Asia-Europe service
- G8 carriers to impose several rate increases
- Major shipping conference to be held in Dubai
- MOL continues expansion in China
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| MAY 26, 2004 |
- South Indian tea producers advised to hardsell quality of produce in Russia
- Germany becomes largest buyer of Indian leather products
- Spice trade seeks cap on pepper imports from Lanka
- JNP celebrates 15th Anniversary today - Sailing full steam ahead
- CONCOR commencing regular weekly services on TKD-VCT route - INDFEX-2, alternative gateway attracts hinterland trade
- Deregulate export credit rate, says RBI group - Move to augment foreign currency credit for exporters
- Exporter-friendly policies to continue: Kamal Nath - New Exim Policy in a month or two
- Chidambaram hints at pre-Budget sops
- Forex reserves swell by $ 49 million
- Govt issues fresh gold import rules
- Centre reverses move to hike milk powder import quota
- Foreign Trade Analysis: Current Policy & Procedures
- AIAI President welcomes Chidambaram as Finance Minister
- T. R. Baalu given Surface Transport, Highways & Shipping - Chandrashekar Rao relinquishes portfolio
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| MAY 25, 2004 |
- US markets still firm after crude gains
Good bunker demand expected as US Naval vessels arrive for New York's Fleet Week.
- Singapore fuel oil market feels strain of falling China imports
Brimming storage tanks and lacklustre end-user demand due to high prices may cause Huangpu's June imports to fall further.
- BP unveils more details of giant Guangdong terminal
BP and partner celebrate successful commissioning of Nansha oil products terminal and jetty.
- Fujairah market slows down as buyers shun firm market
Bunker prices lag cargo gains after solid rise today.
- Crude rally pushes Hong Kong levels up
- Tanker chief warns of potential for off-spec bunker disaster
Intertanko managing director says introduction of Marpol Annex VI could reduce risk of off-spec bunker fuel entering supply chain.
- Crude dips after new record-breaking rally
Saudi pledge to boost supply failed to gain approval from other OPEC members.
- Rotterdam rebounds sharply after crude gain
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| MAY 26, 2004 |
- Second Basel International Hazardous Goods Conference
- British Network Rail chooses Frequentis
- Sweden: the battle for Green Cargo
- Bibby Distribution wins contract with Barlows in the UK
- Cameroon to repair Wouri Bridge
- Kitty Hawk to operate Boeing 737-300SF 'Special Freighter'
- MOL to offer new North China/Korea-Long Beach express service
- New management for the BVL
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| MAY 26, 2004 |
- ISPS deadline doomed to fail and must be extended, says GL
SHIPPING has no realistic chance of meeting the July 1 deadline for new international anti-terrorism rules, and an extension of up to five months is now necessary, Germanischer Lloyd said yesterday.
- Castle Harlan buys Horizon for $650m
HORIZON Lines, the former Jones Act containership arm of transport giant CSX, has been sold for $650m to New York equity firm Castle Harlan only 15 months after Carlyle Group of Washington bought it from CSX for $315m.
- Burke offers $100m equity infusion for MC Shipping
A PLAN to transform the prospects of MC Shipping by injecting more than $100m of fresh equity into the liquefied petroleum gas carrier and containership operator has been put forward by Burke Investments.
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| MAY 25, 2004 |
- Three dead in Karachi port blast
NEWS is coming in of an explosion at Gate 17 at Karachi port in Pakistan
- GL rallies response to ISPS
CLASS societies began discussing today "a practical solution" to the problem of ships that do not have ISPS certification after the 1 July deadline
- Alstom rescue plan 'imminent'
AN agreement on Alstom’s final rescue plan is imminent, a French finance ministry spokesman told the media this afternoon
- IMO not Euro-centric: Mitropoulos
IMO Secretary-General Efthimios Mitropoulos today denied that IMO was Euro-centric
- New owner sees profits on Horizon
HORIZON Lines has a new owner and Carlyle Group’s investors are a lot richer after yesterday’s $650M sale of the Jones Act container shipping company
- Japanese yards face tough 2004
MOTOTSUGU Ito, chairman of the Shipbuilders’ Association of Japan, is calling for further newbuilding price rises so SAJ yards can achieve a modest profit
- New shipping minister replaced
- Bangladesh ferry toll rises to 61
- Hyundai No 105: diving approval
- MISC profits up but debt grows
- Asian voice 'can make a difference'
- Singapore urges owners to back IMO
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| MAY 25, 2004 |
- New World Alliance realigns Asia calls
APL, Hyundai and MOL will resume pre-winter trans-Pacific deployment with reconfigured port rotations.
- New Norasia S. China-Europe links
The Hong Kong carrier rolls out new South China Express in partnership with APL and CMA CGM.
- U.N.: Maritime security not seaworthy
- U.S. rail freight increases
- U.S. trade pact will boost Australia exports by 15%
- Charleston dredging completed
- All clear for Bayport construction
- Canadian National targets $8 billion in revenues by 2009
- Virginia ports chief steps down
- Profit for Trailer Bridge
- Strike disrupts box traffic at India port
- OMI offers $563 million for Stelmar
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| MAY 25, 2004 |
- Henderson head to invest in CSCL as a third Hong Kong tycoon
China Shipping Container Lines (CSCL), which has scaled down its initial public offering (IPO) twice before its Hong Kong listing on June 16, is kept afloat by a third tycoon within five days.
- Court to oversee Suape’s docker employment policy
- Court convicts LA people smugglers
- Strike adds to Chennai delays
- Joint Customs operation snuffs out Russian cigarette smugglers
- New World Alliance to enhance trans-Pacific services
- Carlyle Group doubles its money on Horizon sale
- Zim announce executive promotions
- Jasungdae and Shinsundae add cranes
- China Shipping Group names second 5,688TEU ship
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| MAY 25, 2004 |
- OMI offers $563m for Stelmar
OMI warns it will 'explore all its options' if agreement not reached, after formal offer put on table.
- Burke's back!
US investor applies some creative thinking to come up with new offer for MC Shipping.
- Frontline voyage expense soars
Top tanker owner opens its books as finance offshoot prepares for listing.
- First profit in 3yrs for Trailer Bridge
Company reports $2.9m turnaround quarter-on-quarter.
- Sinopec to build LNG terminal
Shandong’s Qingdao to be home to China’s fourth receiving plant.
- Eidsiva on steady course
Long-term charters hold promise of stable and satisfactory profit.
- Numbers up at Namsos
Norwegian ferry owner sees big jump in profits in first quarter of 2004.
- Chao lauds double-hull decision
Wah Kwong boss says he was "very pleased" with decision to ditch new IMO bulker rules.
- Nanjing Tanker rolls out bonds
China Changjiang Shipping unit to sell CNY 1bn of notes to pay for fleet expansion.
- Cocaine found on Greek reefers
Officials find 29 kilos chilling out with the bananas on Lagoa and Target vessels.
- BP LNG ship suffers fire
Laden vessel putting in to Durban for repairs after transformer incident.
- Eukor car carrier is total loss
Massively expensive Tricolor style wreck removal unlikely to be required.
- Parent bids for Bidcorp
South Africa’s Bidvest is offering minority investors a way out of loss-making UK shipping and ports group.
- Cape Africa repairs to start
Cofferdam to be ferried out to damaged U-Ming bulker on Wednesday.
- Kuribayashi springs into profit
Japanese ro-ro owner is on the up after making money in the year to 31 March.
- Redundancies hurt Nenaco
Severance pay for axed staff pushes troubled Philippine ferry owner to first quarter loss.
- NOL volumes soar 20%
Asian trades main driver behind increased liftings in April for Singapore national flag carrier.
- Star earnings stall
Norwegian reefer owner drives up freight rates, but first quarter profit dips as charter costs rise.
- Oil almighty
Crude hits record high as Saudi assurances fall flat, shipping stocks edge up.
- Pertamina defends VLCC buy
Parliamentary commission calls in former company president Baihaki Hakim to explain newbuilding moves.
- Horizon to change hands
Investment firm Carlyle Group finds buyer for Jones Act boxship owner after three-month search.
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| MAY 25, 2004 |
- New World Alliance adds Pacific capacity
- Trailer Bridge sees first profit in years
- Carlyle Group sells Horizon Lines to Castle Harlan
- APL had higher volumes, rates in April
- MarAd to hold conference call for MSP product tanker builds
- Royal P&O Nedlloyd buys shares for employee share plan
- L.A. jury convicts two Chinese on human smuggling charges
- Hong Kong air carriers to charge security fee
- Fuel increases trigger Lufthansa surcharge
- Home Depot picks Stonepath as 3PL
- Port of Houston approves Bayport contracts
- Savannah handled 15% more containers in April
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| MAY 25, 2004 |
- Ro-ro important for the Port of Göteborg
The Port of Göteborg is planning for an increase of the already substantial ro-ro operations carried out in the ...
- Marpol VI could deal with inferior bunkers
Marpol Annex VI, while deals with air emissions and fuel quality could deal with the problem of bad bunkers, according ...
- Salvor face loss on "Tricolor" operation
Salvage costs to remove all of the the 15,536 DWT, Norwegian controlled car carrier "Tricolor" is likely to be much ...
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