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| AUGUST 11, 2005 |
Shipping News
- Shipping lines face competition issues amid consolidation
FOLLOWING the acquisition of Royal P&O Nedlloyd by AP Moeller-Maersk, the message to other container shipping lines considering their strategic options is to act now before there is significant further consolidation in the industry.
- Hyundai Merchant's Q2 profit up on lower tax
HYUNDAI Merchant Marine Co, South Korea's second-largest shipping line, reported a profit in the second quarter because it paid less taxes and lower interest charges.
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| AUGUST 11, 2005 |
- CP Ships' two newbuilds to be used in US East Coast-India service
- MacAndrews sets up shop in Sri Lanka
- Port of Tacoma Commission gives nod for bond sale
- AP Moller-Maersk buys UK North Sea oil and gas interests
- Ecu-Line uses CMA-CGM for Sri Lanka service
- OSG Q2 profit soars
- Pilots resume talks with management of Asiana Airlines
- AirBridge Cargo caters to Russia's US$1 billion flower demand
- UPS buys out Overnite Corporation
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| AUGUST 11, 2005 |
- Solution to BBCD route for inchartering tonnage proves elusive
- India, Pakistan to reformulate shipping, civil aviation agreements
- RIL entrusts Herculean task of moving critical ODC gear to Jumbo Navigation
- JNPT puts decongestion drive into top gear
- VCT emerges ideal gateway for boxes to/from Far East, US West Coast
- Utilise CWC sops, NMPT tells ex-im trade
- Paradip Port puts berth extension project on fast track
- Capacity to be increased
- Advisory council for dedicated freight corridor proposed
- CONCOR to cut costs by 15 pc, set up efficiency benchmarks
- SRS launches integrated warehousing facility for multimodal operations at Kandla Port
- Truck operators end stir
- MoF clarifies on availing of 75 pc abatement on payment of service tax
- MoF simplifies export documentation procedure
- Ministry gives nod for extension of capital subsidy to textile machine accessories under TUF scheme
- Goa jumps on to SEZ bandwagon
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| AUGUST 10, 2005 |
- Emirates appoints first ever Irish cargo representative
- A.P. Møller – Mærsk secures 95.6% of Royal P&O Nedlloyd share capital
- Qantas to launch new Trans Tasman schedules
- MAN to build new truck assembly plant in Krakow
- Aramex reports 72% rise in interim net profit
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| AUGUST 10, 2005 |
- RCL profits up
- Belize boarding agreement with US
- Nordic American draws on credit line for vessel purchase
- Attempted boarding in Gulf of Aden
- UK Club warns on US visa requirements
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| AUGUST 10, 2005 |
- Port states plan ISPS anniversary checks
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| AUGUST 10, 2005 |
- Port of Everett taps Manson for Rail/Barge facility project
- Portland Port Commission eyes Kelley Point land transfer
- Port of Olympia schedules terminal tours during Harbor Days
- Tacoma Port Commissioners Ok $80 million revenue bond sale
- CP Ships announces plans for two new container ships
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| AUGUST 11, 2005 |
- Chantiers split from Alstom a ‘last resort’
PROTRACTED speculation over the fate of the Chantiers de l’Atlantique shipyard may be coming to a head, after reports emerged yesterday that French parent Alstom is considering a separate listing for its marine subsidiary.
- Britain draws up new two-pronged piracy guidelines
BRITAIN will soon issue revised guidelines on piracy as part of a two-pronged approach to the problem.
- Lloyd’s terror plans in step with threat
LLOYD’S is continuing to update its emergency survival plans, as police warned of a new City terror attack.
- Index hits 2,000 point milestone
SOOTHSAYERS might be casting doom and gloom over the shipping industry with talk of dramatic plunges in the drybulk and container sector, but the ‘bull market’ for shipping stocks still continues to gather pace.
- Russia consolidates defence industry into shipbuilding duo
RUSSIA will create two large shipbuilding groups in a consolidation of the mammoth defence industry it inherited from the Soviet Union, a top government official has confirmed.
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| AUGUST 10, 2005 |
- Alstom 'considers Marine spin-off'
FRENCH engineering group Alstom is said to be studying a possible spin off of its ailing Marine Division, according to French newspaper La Tribune
- Seabulk take-over wrapped up
SEACOR Holdings turned from loss to profit during its second quarter as it finalised its Seabulk acquisition and became a major player in the Jones Act tanker trade
- US ports showing little congestion
US ports are not suffering delays and congestion as they did last year despite continued increases in container imports, according to a report
- Iraqi oil production, sales rising
IRAQ has posted a record $2.5Bn monthly income on its crude oil sales in July while its production stood at 1.6M bpd
- Ottawa sets up dispute task force
A three-member task force has been set up by Ottawa to look at the underlying causes of the truckers' strike in British Columbia and make recommendations
- Panama Canal maintenance work
LOCK maintenance work will be carried out on Panama Canal on 17-20 August
- Malaysian court delays piracy trial
- Torm cautions on dry bulk rate rise
- CP newbuildings go to Suez routeing
- Indonesian LNG supplies disrupted
- Seafarer missing after collision
- Merchant ships save migrant lives
- Johor denies box shift to Pelepas
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| AUGUST 10, 2005 |
- Container ship orders tumble
Fears of capacity glut in coming years cools spending by owners and carriers after record buying in first half.
- Analysis: Wins for cargo in highway bill
- Truckers protest in Miami
- Bush signs highway bill
- MOL profit grows 77%
- CP Ships adds U.S.-India ships
- Customs vet Tischler dies
- Study: 123K jobs from NY-NJ port
- Norfolk to boost productivity
- Swift acquires BNSF boxes
- Contract for Prince Rupert terminal
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| AUGUST 10, 2005 |
- Task force to probe Vancouver trucker conflict
Canada's federal government has announced the creation of a three-member task force to review the issues underlying the recent six-week trucker dispute.
- Sentiment overtakes fundamentals in market facing ‘spectre’ in 2006
- Ship grounding interrupts Malaysian port operations
- Brazilian customs strike begins to bite
- Alameda Corridor records sharp rise in empties
- Tallinn and Klaipeda squeeze Riga
- Concor levies surcharges to cover JNP congestion
- Essential economics leads Shanghai to expect more growth
- CP Ships deploys newbuilds on INDAMEX
- Carriers protest NZ's mandatory fee rises
- Interest and cost reductions lift HMM profits
- NYK orders postpanamax trio from Hyundai Heavy Industries
- Duty calls: FTA and RHA target diesel duty in industry enquiry
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| AUGUST 10, 2005 |
- Big jump for CSDC
Chinese tanker and bulker owner banks huge increase in first-half earnings.
- Turkey holds terror suspects
Police detain 10 people suspected of planning attacks on Israeli cruiseships.
- OMI wants more OMM
Connecticut owner expands shares buyback programme after seeing stock fall to six-month low.
- Chantiers de l'Atlantique to float?
Alstom rumoured to be considering listing as precursor to disposal of loss-making yard division.
- Torm estimates slashed again
Jefferies cuts 2005 EPS for second time as late delivery of LGR ships swipes earnings.
- Tamai numbers dip
Japanese bulker owner can’t quite match last year’s first quarter profit as revenues fall.
- Bad timing for NATS
Latest delivery arrives at time of two-year trough in suezmax rates.
- HMM up year-on-year
But line sees profits slip from first quarter as operating result takes a 30% dip.
- Mipo on the rise
Hyundai Heavy affiliate shipyard more than doubles earnings in second quarter.
- Farstad chops and fixes
Norwegian owner sells elderly PSV to Canadian interests and charters out two other ships.
- RCL inks boxships
Thai intra-Asian operator has ordered two ships in China as second quarter profits soar.
- Inui profits dip
Japanese handysize bulker specialist sees double-digit decline in operating and net results.
- Bad start for Sanoyas
Japanese shipbuilder racks up loss in first quarter, despite building revenues.
- STX Pan Ocean steams ahead
Recently listed South Korean bulker shipowner has posted a 27% increase in first quarter profits.
- CP deploys newbuilds
Container line to use two Seaspan-chartered ships for US east coast to India service.
- Kuribayashi slips into the red
Japanese ro-ro player goes from modest profit last year to sizeable loss in FY2006 first quarter.
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| AUGUST 10, 2005 |
- MOL’s net income climbs 568% in two years
- TORM sees 2nd quarter profits
- Seaspan raises $600 million in NYSE IPO
- Regional Container Lines lifts half-year revenue, profit
- TACA raises bunker fuel adjustments
- CP Ships slates two ships for U.S./India routing
- Belize signs security pact with United States
- NTSB names Spencer to direct marine safety office
- Crowley promotes Mead to general counsel
- Cathay Pacific's first half profits down 5.7%
- British Airways World Cargo's revenues flat in first quarter
- Turkish Airlines orders another eight 737 aircraft
- AirBridge Cargo starts Amsterdam/Moscow service
- Swift takes control of BNSF containers
- Trans-Soft, Freight Force team up for customer service
- Bester new South African chief for Famous Pacific Shipping
- CWB unsatisfied by U.S. import tariff cut
- Apparel importers’ group names Zane chairman
- Retail group says port congestion under control
- PierPass chief briefs Port of Long Beach on initial operations
- Port of Tacoma approves $80 million bond sale
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| AUGUST 10, 2005 |
- Helicopter crashed off Tallinn – 14 dead and no survivors
Today at 12.45 local time, just five minutes after take off from Tallinn, a helicopter beloning to Copterline crashed two ...
- Heavy loss for Silja
The half-year result of the ferry operator Silja was strongly negative. The revenue totalled USD 280.7 million and the ...
- New open registers
Dubai is to set up an open ship register as a part of the ongoing Dubai Maritime City project. Recently ...
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| AUGUST 10, 2005 |
- DOE & API at a glance: US crude stocks swell
Reports show rise in crude stocks amid high imports, but mixed picture for key products.
- Lintec advises caution on sulphur limits
Variations in testing methods mean all parties involved need to approach bunkers marginally above MARPOL sulphur limits with caution.
- EGPC awards 756,000 mt tender for up to 5% fuel oil
EGPC has awarded a tender to buy up to 756,000 mt of high sulphur fuel oil for the country's bunker market, although maximum sulphur content specified exceeds MARPOL limits.
- NOL profits expected to suffer from escalating fuel bills
Analysts predict erosion of Q2 profits as rising costs counter strong transport demand, while Q3 bunker prices show no sign of easing.
- Colombo: Appeal court ruling will see bunker prices drop
Sri Lanka Shipping Company says appeal court ruling will lead to increased competition and better prices for bunker buyers.
- Rotterdam market remains firm this morning
- Solid start continues for World Fuel Services
Miami-based marine fuel marketer World Fuel Services Corp. (WFS) reveals continued solid results for Q2, 2005.
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