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| MAY 11, 2005 |
Shipping News
- AP Moeller may buy P&O Nedlloyd
AP Moeller-Maersk, the world's biggest container-shipping company, may buy Royal P&O Nedlloyd NV, which has a market value of US$2.3 billion, to boost market share before a potential drop in freight rates.
- S Korean yards to share US$1b Iran orders
SOUTH Korean shipbuilders are about to get contracts worth almost US$1 billion to build oil tankers, an Iranian official said.
Strait Talk
- Herald seamless door-to-door transport
THE vision NOL Group president and CEO David Lim outlined during his presentation at the Center for Maritime Economics and Logistics at Holland's Erasmus University last week was a familiar one to those who have followed the development of containerisation over the past 33 years or so.
Port Shots
- Port Shots
CONTAINER shipping company CP Ships said on Monday its quarterly profit rose as higher freight rates offset lower volume due mainly to schedule delays and service restructuring.
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| MAY 11, 2005 |
- Royal P&O Nedlloyd: we're discussing possible merger with AP Moller-Maersk
- MOL sets up subsidiaries in Ghana and Nigeria
- Chinese Vice Premier to attend June PBEC conference in HK
- Heavy Haul Industrial Corridor drivers in Tacoma get okay from govt
- Geodis lays out China expansion plan
- Hactl sees 10pc throughput tonnage growth in April
- Air Parcel Express to automate logistics operations
- Volga-Dnepr awaits arrival of new IL-76 freighter
- SkyTeam Cargo acknowledged as best freight alliance
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| MAY 11, 2005 |
- SCI to continue in IndAmEx service as slot operator
- Swift Shipping celebrates 10th anniversary
- Maharashtra ready to export 17 lakh bales of cotton
- Ficci, Virginia body sign MoU on trade
- Chilli exports yield Rs 499 cr.
- IPPL plans LPG terminal in Chennai
- Private promoter for Gopalpur port may be finalised by middle of September
- Cochin Port Trust to re-tender dredging contract
- Railways may reduce freight rates on POL by 25 pc, on steel products by 11.11 pc
- Jet Airways’ direct London-Mumbai service to take off from May 23
- Slew of incentives for SEZs bobs into sight
- Ficci projects double-digit growth in capital goods, consumer durables sectors
- ...draws up agenda to free India Inc from redundant laws
- Planners favour peak Customs rate of 10 pc, combined effective indirect tax of 10-12 pc
- MPEDA testing shrimp samples
- Seafood processing zone ready for operations
- Looms in state to get power at reduced rates
- More quality barriers to check flood of sub-standard imports mooted
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| MAY 10, 2005 |
- Port congestion concerns in Los Angeles
Security measures could increase vessel delays, analyst warns.
- Cruise ship demand being felt in Vancouver, Seattle
Local supply and demand factors expected to affect bunker prices
- GAC boss forecasts continuing growth
GAC group chairman forecasts bright future for shipping and transport, citing continuing growth and expansion, including its bunkering businesses.
- AP Møller-Maersk and P&O Nedlloyd in merger talks
Danish shipping giant AP Møller-Maersk and Dutch heavyweight Royal P&O Nedlloyd have confirmed that discussions are taking place "regarding a possible combination of the companies," which industry sources say would create a shipping line twice the size of its nearest competitor.
- Sources: Off-spec bunker fuel creating two-tier market in LA
Sources in the LA market have said a supplier is offering "off-spec" fuel at discounted prices.
- Sri Lanka player seeks marine gas oil cargo
- Risk management helps keeps CP ships income healthy in Q1
Container line announces that the company more than doubled its operating income in the first quarter (Q1) of 2005 despite lower volumes and higher fuel costs.
- LA ferry scores first share of Air Quality Mitigation funding
A local ferry operator has become the first of 18 proposals selected to receive funding from the Port of Los Angeles' five-year, $20 million Air Quality Mitigation Program (AQMP), and is getting a $1 million clean-air makeover.
- US: Shipping boss to appeal pollution sentence
Chairman and owner of Sabine Transportation is to appeal against his 33 month jail sentence for his involvement in pollution offence.
- Rotterdam product tightness persists
- WFS to be added to S&P US Index
World Fuel Services Corp. will replace Patina Oil & Gas Corp. on the S&P SmallCap 600 Index.
- Gain in oil prices ahead of US driving season
Crude prices rose yesterday as traders expressed concerns that supplies may not meet the surge in demand associated with the US driving season, which starts at the end of this month.
- High bunker prices put pressure on tanker market
Over the next three years, the tanker market will have to face pressures from three directions, one of which is high bunker prices, according to an analyst from Citigroup.
- Grounded barge causes spill
A barge ran aground on Sunday morning, spilling up to 7.6 cubic metres of diesel fuel into James River.
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| MAY 10, 2005 |
- Qualcomm adding hours tracker to OmniTracs
- Bangladesh to cancel pre-shipment inspection (PSI) this year
- U-Freight Euromar strengthens Italian network
- CTL Logistics powering into German market
- EGSAC appoints member for Romania
- A.P. Møller - Mærsk A/S may buy Royal P&O Nedlloyd NV
- Wincanton announces new IT director
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| MAY 10, 2005 |
- P&O Nedlloyd and Maersk in merger talks
- Knightsbridge’s Q1 profit dips but prospects "healthy"
- Bibby keeps UK defence contract
- LR completes dual-fuel LNG ship safety case
- Five orders for Keppel Singmarine
- Island Offshore orders at Aker
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| MAY 10, 2005 |
- Keppel Singmarine books orders worth US $48.6 million
- Intermarine to add four 8,000 dwt newbuild heavy lift ships
- Harvey Gulf International orders 280 ft New Generation OSV
- Lloyd's Register completes LNG propulsion safety case
- Rhode Island wants U.S. masters on LNG ship bridges
- Maersk in merger talks with P&O Nedlloyd
- Strong first quarter for CP Ships
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| MAY 11, 2005 |
- AP Møller mulls $2.5bn takeover of P&O Nedlloyd
AP Møller-Maersk is in takeover talks with P&O Nedlloyd that could cost the Danish giant in excess of $2.5bn. If successful, the deal would create a huge new line double the size of its closest competitor.
- Miles to quit board of CP Ships once successor is found
RAY Miles is to leave the CP Ships board as soon as a new chief executive is appointed, writes Janet Porter.
- Barroso pressed for explanation over state aid to Latsis yard
EUROPEAN Commission president José Barroso is under new pressure to appear before the European Parliament to explain his relationship with shipping magnate Spiro Latsis.
- Tung tells industry to bank its bucks
SHIPPING should bank some of its current good fortune by strengthening its structures and institutions to better prepare for inevitable future market fluctuations, a senior industry figure has said.
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| MAY 10, 2005 |
- T&T’s Williams in bribery probe
TRINIDAD & Tobago energy minister Eric Williams, the man who oversees 70% of America’s LNG imports, is being probed by the Integrity Commission on bribery allegations
- NZ livestock threatened
NEW Zealand’s lucrative agricultural industry is seriously threatened following what is claimed as a deliberate release of the foot and mouth virus on the Hauraki Gulf island of Waiheke
- Guangdong to import more coal
CHINA’S booming southern province of Guangdong is scrambling to source coal to beat an anticipated power crisis
- PONL shares up by 18%
SHARES in Royal P&O Nedlloyd rose by almost 18% on the Euronext after confirmation of talks with AP Moller-Maersk
- Green Reefers swap red for black
GREEN Reefers switched to a 1Q05 profit of NK47M ($7.6M) from a loss of NK1M in the same period a year earlier as freight rates improved and its fleet expanded
- Rate strength on the Atlantic: CP
THE traditionally moribund trans-Atlantic is finally enjoying rate strength and Latin American returns are on the rise, according to CP Ships
- GAC bullish on future prospects
- CN sets up Euro hub in Rotterdam
- P&O Ned, Maersk in bid talks
- Box avalanche kills driver in HK
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| MAY 10, 2005 |
- Maersk Sealand, P&O in merger talks
A merger of top box carrier and third-ranked P&O Nedlloyd would create a mega-carrier more than twice the size of its nearest rival.
- Seattle, Tacoma near box records
- UPS hub plan targets heavy freight
- Profit in Q1 for CP Ships
- Panama Canal rates deter trade
- Indian shippers, Maersk make peace
- Oregon channel project underway
- Intermarine to add four vessels
- AAPA to test seaport crisis
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| MAY 10, 2005 |
- Merger talks boost PONL shares
Shares in Anglo/Dutch carrier P&O Nedlloyd (PONL) were up 7.6% today, as the carrier confirmed it is in negotiations with AP Moller-Maersk (APMM) over a ‘possible combination of the companies’.
- Miles sees further Atlantic rate increase soon
Ray Miles, CEO of CP Ships, today forecast another rate increase on the North Atlantic trade to achieve a better balance between supply and demand.
- Rich returns: new chairman and strong profits bolsters CP Ships
- CN creates freight-forwarding unit
- Australia industry relieved at delay to Customs makeover
- Service on the Upper Rhine is all mine, says Rhinecontainer
- TSK to restructures Asian and ME services
- Heung-A and STX to launch joint China/SE Asia loop
- MEP to raise Oral Question on China
- Greater access for freight carriers under new Victorian access rules
- HK truckers demand better storm safety at Kwai Chung
- Korean shippers urge end to double fuel charges
- Dadri sets tough targets in first full year
- China Merchants appoints new management
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| MAY 10, 2005 |
- Intermarine adds four
US heavy lift operator clinches charters on four more Jungerhans newbuilds.
- Seabulk doubles Labroy order
US owner exercises options for more supply ships from Singapore.
- Excel excels
New York-listed bulker owner builds first quarter revenues and profits as fleet continues to expand.
- Takeover fever wanes
But tanker king John Fredriksen could have role in Maersk Sealand bid for P& O Nedlloyd.
- Bourbon boosted by bulkers
French owner sees first quarter revenues climb, with offshore and salvage operations also helping growth.
- Top lines in takeover talks
Maersk Sealand mulls $2.5bn bid for P&O Nedlloyd to create supersize container line.
- Anchor-handling double for Aker
Two of Norwegian group’s yards win supply ship orders from Island Offshore.
- Cancellation boost for Jinhui
Oslo-listed bulker owner pockets $20m from early termination of capesize charter.
- CP Ships ups profit
Rising freight rates raise liner operator’s hopes that 2005 will be a more successful year.
- Hapag-Lloyd grows again
First quarter volumes and profit up at German container line, with more of same expected for rest of year.
- Steel costs hit Mitsui
Higher costs chop profit for Japanese shipbuilder in year to 31 March.
- Chong inches up Vita stake
Former Links Island Holdings chairman continues to buy stock in fledgling Singapore shipowner.
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| MAY 10, 2005 |
- Maersk in talks to acquire P&O Nedlloyd
- CP Ships 1st-quarter earnings improve
- CP Ships appoints Rich non-executive chairman
- Turkon drops Charleston, adds Savannah
- Japan Airlines finalizes 60-plane contract order from Boeing
- UPS deploys next-generation driver computers
- New EU advisory group on intermodal is formed
- CN establishes freight forwarding company
- Two Chinese exporters plead guilty to illegal export charges
- Gov. Gregoire signs bill for port or Tacoma heavy haul corridor
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| MAY 10, 2005 |
- Island Offshore order two AHTSs at Aker Yards
Island Offshore has ordered two type UT 787 AHTS vessels at Aker Yards worth around NOK 800 million for delivery ...
- Green Reefers continues upgrading
Bergen based Green Reefers has bought the 194,000 cbft reefer "Frio Pusan", built 1999 from Laskaridis of Greece for USD ...
- Jo Tankers replaces European officers
Jo Tankers is about to replace most of its European officers with Filipinos and 94 Dutch and 9 Norwegian officers ...
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