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| JUNE 1, 2005 |
Shipping News
- Marine sector revenues up 40% to record $5.3b
ONCE written off as a sunset industry, Singapore's marine industry saw total revenues rise 40 per cent last year over 2003, reaching a record $5.3 billion, according to the Association of Singapore Marine Industries .
- Global focus in Nor-Shipping meet
THE Nor-Shipping 2005 conference this month will focus on the role of the industry in fuelling the world's prosperity, with the theme of 'Shipping: Moving the global economy forward'.
Strait Talk
- It's time to reassert the IMO's authority
A FEW weeks ago the European Commission sabotaged an attempt by Denmark and the United Kingdom to initiate action by the International Maritime Organisation on an important safety issue.
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| JUNE 1, 2005 |
- OOCL to offer new Vietnam feeder service
- NOL sees continued demand growth for liner, logistics services
- HK-Zhuhai-Macau bridge to bring economic benefits to region
- Liaoning sets sights on becoming international shipping hub
- PSA box throughput soars during Jan-April
- DHL to manage Ford warehouses, distribution in Indonesia
- Panalpina Singapore wins Bosch contract
- Singapore Airlines launches additional daily flight to Beijing
- UK and NZ strike air deal
- Lufthansa flies into the red in Q1
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| JUNE 1, 2005 |
- Hamburg Süd to be represented by Seabridge Maritime in India
- Comfortable wheat stocks rule out imports
- Karnataka units plan raw cashewnut imports
- Global tender for Sethu project may be floated in 2 months
- HRD Centre inaugurated in Mormugao Port Trust
- DPI Terminals takes another step forward at RGCT
- Neera Saggi takes over as DC, SEEPZ
- Rlys may import 18,000 wheels this year
- CONCOR lists advantages of using ICD-Dadri
- Railways raises tariffs for moving iron ore to steel plants by 14 pc
- Roshan Freight Lines extends services to Far East
- IFFCO springs into expansion mode
- Ethiopian envoy to speak at IMC today
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| MAY 31, 2005 |
- Malaysia re-states opposition to private anti-piracy escorts
Officials make it clear that private security services for Malacca Straits shipping will not be tolerated.
- High marine fuel costs help sink company
Company files for bankruptcy citing high fuel costs and other factors for the company's mounting debts and lack of prospects for recovery.
- Japan: April bunker sales down both on month and year
- MSP joins campaign against STS oil transfer plans
A Member of the Scottish Parliament (MSP) has backed Fife Council's campaign against plans for a large-scale ship-to-ship (STS) oil transfer operation the Forth.
- Green shipping champion showcases futuristic vessel
Green shipping champion Wallenius Wilhelmsen (WW) has designed a futuristic freighter using sun, wind and waves to propel it across the oceans, as the company believes that increasing environmental regulations and fuel costs will force the industry to come up with greener vessels.
- US: ILMA revises code of ethics, creates industry task force
The Independent Lubricant Manufacturers Association (ILMA) has revised its Code of Ethics and also created an industry task force to develop a product-testing program to improve the quality level of lubricants.
- Singapore: Accreditation deadline today, no extensions given
The deadline for meeting the requirements of Singapore's bunker supplier accreditation scheme is today, with a final batch of accreditations expected, sources say.
- Hong Kong: High 380 cst premiums cool off in May
Bunker fuel premiums for 380 cst were reported to have eased considerably in May compared to April.
- Surge in oil output expected from SPC
Singapore Petroleum Company (SPC) expects to increase oil output to more than 50,000 bpd from its Indonesian and Vietnamese fields within three years.
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| MAY 31, 2005 |
- Frontline’s Q1 profit dips
- Golden Ocean boosted by Jinhui shares sale
- Color Line orders second cruise ferry from Aker
- ITF and Prisco in deal
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| MAY 31, 2005 |
- Keppel Singmarine buys Chinese yard
- Mega mergers ahead in tanker sector?
- ASC to build Australia's AWD destroyer
- Maersk orders semis at Keppel FELS
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| JUNE 1, 2005 |
- Frontline sees salvation in ‘mega mergers’
FRONTLINE has called for "mega mergers" to consolidate the fragmented tanker market, but the John Fredriksen company has lost patience with its reluctant bid target General Maritime.
- Cosco sets sights on stake in Rotterdam terminal
China’s Cosco is eyeing a stake in Rotterdam’s Euromax terminal, being built by local stevedore ECT and P&O Nedlloyd, if AP Møller-Maersk’s takeover of the Anglo-Dutch line forces a change of ownership.
- Aviation firm Avion spreads wings with Eimskip purchase
AVION Group has moved into shipping and logistics with a Ikr23bn ($355m) acquisition of Icelandic company Eimskip from Burdaras, writes Martyn Wingrove.
- Shipping heir plans a Paris match
In a melding of two extremely wealthy worlds, hotel heiress and reality TV star Paris Hilton has announced her engagement to Greek shipping heir Paris Latsis, writes Namrata Nadkarni.
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| MAY 31, 2005 |
- Frontline talks mergers
FRONTLINE has warned against the current trend of fragmentation in the tanker shipping industry, and says the drive for economies of scale should result in 'mega mergers which we recently have seen in other parts of the shipping market.'
- Pakistan claims $2Bn from spill
PAKISTAN will launch a legal case against Polembros, owner of Greek Aframax Tasman Spirit, claiming $2Bn compensation for the oil spill from the tanker
- Marina benefits from ISPS
THE Philippines' Maritime Industry Authority said its revenues from shipping operations were boosted last year by fees related to the implementation of maritime security
- PDVSA takes CITGO subsidiaries
PDVSA, the Venezuelan state-owned oil group, will assume control of US-based CITGO International Latin America and Deltaven International
- Canada tightens surveillance
TOUGHER ballast inspections and increased aerial searches for oil spills are among the measures Canada will take under its new Ocean Action Plan
- Frederik should be 'driven out'
THE Indian Supreme Court monitoring committee on hazardous waste has recommended that the ex-Kong Frederik IX should be 'driven out' of Indian waters
- Strong 1Q results for Norden
- Golden Ocean sees upturn ahead
- DFDS buys Cobelfret service
- Icy stalemate over breaker funding
- South African strike cancelled
- Higher fuel prices hit US buying
- Oil concerns in Ecuador
- Pertamina case goes to prosecutors
- China scraps textile tariffs
- Antwerp dock complex opens in July
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| MAY 31, 2005 |
- MOL sets new Oakland gateway call
Carrier launches new trans-Pacific service, Pacific Southwest Express, and replaces former lead call at Port of Los Angeles.
- Amsterdam hub gets first service
- Road show for Cosco IPO
- NOL volume up 14%
- Truck project for U.S.-Canada bridge
- MSC offers new India-China service
- Pusan hosts NY investment forum
- US Xpress sells airport operations
- Stolt-Nielsen acquires food-box fleet
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| MAY 31, 2005 |
- Trade players discount supposed ‘non à la globalisation’
The French referendum’s ‘no’ vote was only partly motivated by fear of globalisation, and European leaders should not swing toward protectionism, partly because protectionist measures can be circumvented, argue analysts.
- Cosco turns up heat under Euromax issue with expression of interest
Cosco has added pressure to Rotterdam’s Euromax issue by officially expressing ‘distinct interest’ in the facility, Rotterdam port alderman Wim van Sluis heard at Cosco’s Beijing head office last Saturday.
- Korean Shipowners’ Association blames ‘deteriorating’ profitability for FEFC rise
- SembCorp Industries ‘keeping options open’ on SembLog sale
- Auckland volumes still struggling as takeover stalls
- Kursiu Linija targets intra-Europe/deepsea combination
- First lower Danube scheduled barge-service
- PSA and Maersk Sealand eye Busan New Port
- P&O Ports green-lights rail shuttle
- ProLogis and TEDA establish bonded logistics park in Tianjin
- Multinational 3PLs to help Chinese manufacturers participate more in supply-chain
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| MAY 31, 2005 |
- Cosco facing profit drop
Gloomy forecast on next year’s earnings made by arranger of imminent IPO.
- SFI spikes up
Ship Finance International's aim to diversify appears to catch fire with Wall Street investors.
- Veder orders in Italy
Dutch gas tanker owner turns to partner's yard for high specification ethylene carriers for $150m deal
- OMI ends El Paso tale
Market sources say Stamford owner has extended or renewed five products carriers at better rates, including final pair redeliverd from Texas energy player.
- Good times roll for Norden
Danish shipowner scoops up nearly $1m a day profit as dry cargo boom continues.
- SFI frosty on Frontline
Ship Finance International looks for diversified growth and new investment opportunities as profit falls.
- Volharding mulls yard closure
Dutch shipbuilding group may shut down Eemshaven over uncertainties about 2006 orderbook.
- SSN to borrow from state
Polish yard needs loan to build new ships, some in Vietnam.
- Turnover tonic for Wartsila
Finnish ship engine maker expects 15% more cash in the till this year.
- Five held in UK
Svendborg cement carrier heads list of April detainees, with 28 deficiencies.
- Nanjing charters Frontline VLCC
Chinese importer fixes single hull tanker for five years in blurry market conditions.
- Tokyo Tankers adds LNG ship
Mitsui OSK Lines extends ownership co-operation to make quartet for Japanese utility.
- Hamworthy heads upwards
UK maker of LNG reliquefaction systems posts bigger profit in year to 31 March.
- Samsung banks on blocks
Korean shipbuilder eyeing second hull block factory in China.
- Ship sale lifts Frontline
Tanker behemoth sees net profits jump 30% in first quarter helped by suezmax disposal.
- Freddie prefers firms to ships
Frontline says corporate deals present "better opportunities" than purchases in the S&P market.
- NOL volumes jump 14%
Continued strong demand growth helps lift volume throughput at Singapore national flag carrier.
- Ofers over the moon
Sammy Ofer and family see Israel Corp profits soar in strong first quarter for box line Zim.
- Numbers up at Nepline
New ships plus stronger performance by chartering arm help lift profits at Malaysian tanker owner.
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| MAY 31, 2005 |
- COSCO announces IPO in Hong Kong
- APL's April box traffic up 14%
- Yang Ming starts Shanghai/Tacoma loop
- Stolt-Nielsen acquires specialized tank container business
- DFDS snaps up Sweden/U.K. service from Cobelfret
- OOCL to start Vietnam feeder service
- Hamburg Süd changes India agents
- U.S. takes Airbus dispute to WTO
- Peace Bridge facilities expansion continues
- Laden to advise importers
- Markey, Clinton propose legislation to better control nuclear material shipments
- ATF issues final rule for labeling imported explosives
- Lamy to head WTO
- Verdery to study immigration issues for CSIS
- California shipper pays $44,000 fine for export violations
- Grand Alliance to start using Ceres Paragon terminal in Amsterdam
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| MAY 31, 2005 |
- Sakhalin next for Consafe rig
Consafe Offshore in Göteborg has signed a letter of intent with Samsung Sakhalin for a second accommodation and service vessel ...
- "Norden" doubles first quarter profit
Dampskibselskabet "Norden" made a profit of USD 80,4 million (DKK 472,9 million) in the first quarter of 2005 or almost ...
- New owners of Eimskip
Icelandic Burdaras has sold its 94.1 share in Eimskip to Icelandic Avion Group. Avion also plans to purchase the remaining ...
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