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| FEBRUARY 27, 2004 |
Shipping News
- Analysts cast doubts on lines' rosy rate outlook
THE upbeat freight rate outlook of Neptune Orient Lines and other major container shipping groups has been questioned by some analysts, who have predicted a severe slowdown in growth ahead.
- MISC chalks up 71% rise in net profit
HOT on the heels of Neptune Orient Lines' announcement of record profits on Tuesday, the Malaysia International Shipping Corp posted a 71.3 per cent rise in net profit for the first three quarters, in part thanks to its American Eagle Tankers division.
- Hanjin Heavy's profit up
HANJIN Heavy Industries & Construction Co said net income rose 3.5 per cent last year to 24.8 billion won .
Air and Land Transport
- Commercial aircraft market already in upswing: Airbus
THE commercial aircraft market is recovering, European plane maker Airbus SAS said on Wednesday, giving an upbeat outlook for an industry that has suffered the shocks of economic slowdown, Sept 11, the Iraq war and Sars.
- China Airlines seen nearly doubling profit in '04
- Asia air traffic down 10% last year
- Thai Airways to spend US$186m on major revamp
- AirAsia, CAE sign training deal
- Japan Airlines' cracked engines repaired previously
Admiralty Casebook
- Consignee can compel carrier to arbitrate claim for delivery delays
A US appeals court has allowed the consignee of a cargo of gasoil to compel the carrier to arbitrate its claim for delays in the delivery of the cargo, even though the consignee was not a signatory to the charterparty that contained the arbitration clause.
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| FEBRUARY 27, 2004 |
- Yang Ming to use bigger vessels on transpacific service
- Patrick to invest A$100m in new Brisbane terminal
- Senator strengthens ties with Nordic agent
- TGAX to revert to old name
- Meat hold up at Malaysian ports
- ISO certification for GAC Sri Lanka
- Singapore, US sign aviation safety agreement
- ABX Air posts Q4 profit
- UPS enhances customs clearance service
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| FEBRUARY 27, 2004 |
- Maersk Sealand commences global services from Port Pipavav
- Maharashtra to offer Rs 250 per qtl sugar export subsidy
- Deal struck for export of titanium dioxide to China
- Gulf garment makers keen to set up base in Hyderabad
- Vizag Port OHC creates new tippling record
- Tuticorin Port sets record in industrial coal discharge
- VCT sets new ship rate, berth productivity records
- Aditya Birla group planning to set up port at Dahej
- Maersk Sealand, CONCOR flag off maiden weekly train ex-ICD-Sabarmati to Port Pipavav
- ECGC transition to IRDA norms likely to take more time
- Govt fixes DCI share price band at Rs 385-400
- RBI eases norms for raising ECBs for overseas investments
- Crisil sees excellent growth prospects for textile sector
- DEPB rate cuts upset textile exporters
- Petronet to expand Dahej plant capacity by 50 pc
- NSB to discuss Sagar Mala, coastal shipping today
- Rules governing ‘other category’ Trustee appointment in Major Ports issued
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| FEBRUARY 26, 2004 |
- Singapore distillate stocks soar
- Columbian supplier close to signing 'significant venture'
Petrocomercial, the bunkering arm of Columbian shipping group Coremar, has confirmed that it is close to signing a joint venture with an international bunker fuel supplier.
- Wide price range puzzles Singapore bunker market
The Singapore bunker market has been prone to large intra-day price movements just about every day this week, with big spreads between the lowest and highest fixing levels for IFO380. Suppliers described the market as confused, but there is a certain pattern here.
- Demand lack-lustre in firm ARA markets
- Bonded still rules over domestic Japanese bunkers
- Weak fundamentals prevent gains in Singapore fuel oil market
Despite the surge in crude last night, gains in the Singapore fuel oil cargo market today were lacklustre. The failure of fuel oil values to react to bullish crude was attributed to weak fundamentals, with supply increasing and more fuel oil headed for the region.
- Italy feels the pressure of overnight crude surge
- USCG reopen one lane on Mississippi
Backlog could take days to clear as oil supplies are given priority.
- $250m refinery upgrades secure Sydney and Brisbane supplies
Oil major Caltex has committed $250 million over the next two years to upgrade two refineries in Brisbane and Sydney, in a move that should preserve marine fuel supply operations in the two ports.
- Rotterdam fuels firm, distillates sharply higher
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| FEBRUARY 26, 2004 |
- AP Moller group signs 50th contract for China built vessels
- Precious doubles Q4 profits
- GAC Sri Lanka wins ISO 9001
- Operating profits down at Farstad
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| FEBRUARY 26, 2004 |
- Austal launches Yemen patrol boat
First in 10-vessel series
- EC gets tough on vessel traffic monitoring
States told to implement post-Erika directive
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| FEBRUARY 26, 2004 |
- CBP puts hold on 'shipper' line in Trade Act
- Port of Astoria looking for Budget Committee members
- Mitsui ready to expand LR1 double hull tanker fleet
- Corps finds new oil spill coming from The Dalles Dam
- Mark O. Hatfield Jr. named director at TSA
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| FEBRUARY 27, 2004 |
- Diamond is forever on naming day
THE first cruiseship to be built by Mitsubishi Heavy Industries for more than a decade was delivered yesterday in Nagasaki.
- Brussels cries foul over safety fiasco
BRUSSELS has handed a yellow card to almost every country in the European Union for a mass failure to meet the deadline set under the key ship reporting and monitoring directive.
- Møller group brings vessel orders from China past 50 mark
DANISH group AP Møller-Maersk is strengthening its already close ties with China through yet another shipbuilding order.
- Hyundai and Transas in bridge link
WORLD leading shipbuilder Hyundai Heavy Industries has made good on ambitions to mount a head-on assault on the integrated bridge market through a new co-operation agreement with the systems integrator Transas.
- Europe and US seal Galileo satellite navigation system
BRUSSELS yesterday hailed the creation of a world standard for radio navigation after concluding negotiations with the US over Galileo, the European satellite navigation system, writes Justin Stares in Brussels .
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| FEBRUARY 26, 2004 |
- Royal Caribbean drops Haiti
ROYAL Caribbean Cruises, which operates a private property in Labadee, Haiti, will announce an "indefinite suspension" of calls there later today, a spokesperson for the line confirmed
- Viking slashes alcohol price
VIKING Line has responded to a sharp reduction in Finnish excise duty on alcohol from 1 March by cutting the price of liquor sold on its ships..... Full story
- Expiry of time charters lift Jinhui
HONG Kong-based dry bulk shipping group Jinhui is looking forward to the expiry of contracts of affreightment so it can benefit from the booming freight rates.... Full story
- Australian wheat dispute escalates
INSPECTORS sent to Pakistan by the Australian Wheat Board have denied looking again at wheat shipments rejected by Pakistan.... Full story
- Mixed results for BAE Systems
THE UK's largest defence contractor and shipbuilder, BAE Systems, has posted results at the top end of analysts' forecasts.... Full story
- PLA gears up for massive investment
MORE than £1.3Bn ($2.4Bn) is being invested in Port of London terminals in the next 10 years, and the PLA believes there is a 'powerful case' for Shellhaven plans.... Full story
- Mississippi reopened to traffic
- Spanish yard talks collapse again
- Weak dollar boosts Carnival yield
- Adsteam figures disappoint
- Lookouts blamed for collision
- Aker Kværner announcement imminent
- Navion revenue boosts Teekay result
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| FEBRUARY 26, 2004 |
- Update: One-way traffic on Mississippi
Two-way vessel traffic won't resume until damaged supply ship is removed.
- Trans-Atlantic carriers affirm rate hikes
Carriers will go forward with plans to implement rate increases in the westbound Europe-to-North America trade lane.
- WTO, EU trade chiefs push for progress this year
- CN Rail talks to resume today
- Congestion hits Port Newark terminal
- Short-sea a viable option in U.S.
- GeoLogistics opens Pakistan offices
- Rate hikes a go for USSEC
- Boeing sees strong growth for air-cargo
- Southeast Asia liberalizes air cargo
- Descartes launches RFID test
- Trinity will double railcar deliveries
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| FEBRUARY 26, 2004 |
- CSXWT slashes rates in bid to secure HK customer
A panicked CSX World Terminals, Hong Kong (CSXWTHK), which will lose its entire customer base by the end of the year, is offering massive rate reductions, said a local source.
- OOCL considers Continent+Feeder concept, over Southampton
OOCL has confirmed it is studying transferring ‘a serious part’ of its English container business from Southampton to the Continent, just as other Grand Alliance (GA) sources confirm similar considerations.
- Negotiations resume in CN strike
Amid reports of deteriorating service, Canadian National Railway (CN) and the union representing 5,000 striking workers finally agreed to resume negotiations in the presence of federal mediators.
- Trans-Atlantic trade rides the rate-rise swells
- Mississippi re-opened; now operators must mend ‘hole in string’
- Fremantle haulier dispute resolved : no booking, no box
- Conliner soon shuttling to Italy and Austria
- Gwangyang targets Chinese liners, signs China Shipping
- EUROSIB transport turnover up 36.6%, while box-transport rises 38.8%
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| FEBRUARY 26, 2004 |
- Send 'em back!
Florida Governor Jeb Bush labels Haitians aboard cargo ship 'hijackers.'
- Backlog slowly clearing on Mississippi
Coast Guard carefully alternates one-way traffic in main shipping channel.
- Hundreds plucked from burning Philipines ferry
At least one death reported as hundreds still trapped.
- Coast Guard quizzes Haitians in freighter intercept
Cargo vessel Margot held seven miles off Miami.
- China aims to be top shipbuilder
CSSC chief Tan ZuoJun is upbeat about massive Yangtze expansion.
- Bosporus row hots up
Russia accuses Turkey of using delays to promote pipelines.
- Minoan Lines back in the black
Greek ferry owner’s two-year loss-making run ended as market share grows.
- China to drive ordering boom
Clarkson guru Martin Stopford warns $25bn of ship investment needed.
- New boss at Stocznia Gdynia
Former second-in-command Jerzy Lewandowski steps up to top job.
- HSD hikes profit
Norwegian ferry owner turns around 2002’s operating loss to come up smiling last year.
- Maersk tops 50 in China
Latest orders for product tankers take spend over $1.5bn.
- Global capital for China shipping
Moore Stephens director, Richard Greiner, warns of need to find foreign capital.
- Croatia reveals latest yard subsidies
Croatia’s shipbuilders will pocket $73m in coming year as state picks up bill for 10% of vessel costs.
- Gadot ups profit by a third
Newly-listed Israeli tanker company also built revenues last year.
- Sado Steam Ship fights back
Japanese ferry owner overturns big loss in 2002 with modest gain last year.
- Teekay triples profits
Hefty write-downs fail to dampen results as aframax giant sees net voyage revenues top $1bn.
- Nel Lines keeps head above water
But Greek ferry owner posts reduced pre-tax profit for 2003.
- China boom to continue
Fast growth will fuel long term opportunities Mao Shijia tells TradeWinds conference.
- MOL in Nhava Sheva move
New express service to India from Singapore.
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| FEBRUARY 26, 2004 |
- A.P. Moller tightens links with China
- TACA lines reaffirm westbound rate increases
- Mississippi River opens after salvors move "Lee III"
- High tanker rates lift Teekay's profits
- MISC sees 83-percent rise in 4th-quarter profit
- Supreme Court will hear Jones Act case
- MOL joins APL's Singapore/India service
- Crowley Liner Services promotes Clapp, Brown
- Senator Lines appoints agent for Finland
- Lufthansa tweaks rates
- Warehouse operators push for solution to reduce demurrage charges
- UPS upgrades customs brokerage services
- Alexander International merges with Mallory Distribution
- House Transportation Committee weighs in on 2005 budget
- Rep. Hunter turns up heat on Commerce Department's export controls
- Accord Express goes live on GTN portal
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| FEBRUARY 26, 2004 |
- Aker Kvaerner split-up on next AGM i March
A split-up of Aker Kvaerner into at least three quoted companies is likely to be approved on the Annual ...
- British cargo vessel just avoided foundering
British-owned, Isle of Man registered, dry cargo vessel "Dallington" of 12,140 DWT, by a miracle avoided foundering off Mongstad ...
- Master of "Joanna" confessed to negligence
The Master of the Polish owned coaster "Joanna" has confessed to negligence in connection with the collision with "Stena Nautica ...
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