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| AUGUST 12, 2005 |
Shipping News
- Shanghai, Shenzhen ports buoyed by export boom
SHANGHAI and Shenzhen, China's biggest container ports, handled more cargo in July than a year ago as exports of toys, clothing and other goods increased demand for sea freight.
- P&O profit triples on Nedlloyd stake sale
PENINSULAR & Oriental Steam Navigation Co, the UK's largest port operator, said first-half profit more than tripled after selling a stake in Royal P&O Nedlloyd NV.
- China Shipping's first half profit soars 81%
SHARES of China Shipping Development Co rose as much as 2.4 per cent after the nation's largest oil carrier posted an 81 per cent surge in first-half profit on more fuel shipments and raised the outlook of its nine-month earnings.
- Growing fleet, seasonal factors drag on oil freight
- Fate of UN ship and crew still unknown
Admiralty Casebook
- Australia wants disabled ships to alert authorities promptly
THE Australian Transport Safety Bureau has called on ship owners and operators to include procedures in their vessel safety management systems that direct masters to promptly notify local rescue coordination centres if their ships become disabled.
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| AUGUST 12, 2005 |
- AP Moller-Maersk says RPONL acquisition complete
- Hukou in Jiangxi province to upgrade port facility
- China Shipping H1 net profit up sharply
- SCT welcomes new Mediterranean service
- Coleman promoted to oversee development at POV, US
- Ottawa appoints task force on future BC port operations
- October rate restoration for W Africa bound freight
- TwoWay Vanguard appoints new MD
- Cathay H1 profit slips despite more cargo carried
- Qantas to fly to "City by the Bay"
- IL-76 flies over first hurdle
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| AUGUST 12, 2005 |
- A.P. Møller-Maersk Group completes acquisition of Royal P&ONL
- Allcargo Movers (I) Pvt. Ltd
- Hub Line launches new service between Chennai & Port Klang
- CP Ships to deploy 2 newbuildings on IndAmEx
- Hanjin Shipping makes its presence felt on RAS service
- MoS proposes to extend subsidy scheme for shipbuilding companies till 2012
- Bhuj exporters smack their lips as overseas demand for processed food fetches lucrative returns
- Capital dredging all set to begin at Vizag Port
- Central team coming to assess flood damage to state ports
- Railways may withdraw sops extended to CONCOR to provide level-playing field to private sector
- PM’s advisory panel favours tax exemption of ‘negative profits’ under Section 80HHC
- Minister hints at allowing states to frame labour laws for SEZs, EPZs
- SEZ may come up in Amritsar
- Registration norms for service tax assessees made easier
- Fieo delegation visiting China
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| AUGUST 11, 2005 |
- U-Freight names new general manager in Hong Kong
- KESS plans newbuildings
- AirBridge Cargo: new scheduled Amsterdam-Moscow flights
- Four railways joining forces on Antwerp–Milan axis
- Gist with 4% increase in turnover in Q3/2005
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| AUGUST 11, 2005 |
- P&O’s underlying profit dips
- Sealand and P&O Nedlloyd names set to go as Maersk buys PONL
- BIMCO applauds Asian anti-piracy initiative
- Crystal Cruises asks for ITF help on jobs scam
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| AUGUST 11, 2005 |
- Turkey charges cruise attack plot suspect
- Highways act funds ferry projects
- Australia moves ahead on Amphibious Ships
- HHI wins order for four 9,700 TEU box ships
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| AUGUST 11, 2005 |
- Port of Vancouver, USA names Coleman deputy director
- New licensing rules in place for Vancouver, BC trucking dispute
- Bremerton trade alliance presents talk by US consul to China
- Crewmen complaining of chest pains medevaced from ship leaving Columbia River
- Federal Maritime Commission prepares to launch new web site
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| AUGUST 12, 2005 |
- ‘Bin Laden effect’ prompted Malacca war risk rating
DETAILS of the reasoning behind the contentious assessment of the Malacca Strait as a war risk area can be revealed by Lloyd’s List ahead of Tuesday’s meeting between marine underwriters and shipowners.
- Maersk seals P&O Nedlloyd takeover
A LANDMARK in the history of container shipping was set yesterday when AP MØller-Maersk completed the €2.3bn ($2.86bn) acquisition of Royal P&O Nedlloyd, giving the enlarged business an unrivalled position in the industry, writes Tony Gray .
- CP Ships income surges to £33m
CP SHIPS, whose revelations of accounting blunders and profit restatements established it as a takeover target last year, said yesterday that second quarter net income this fiscal year improved 11-fold to $33m.
- Owners face bleak winter with rise in liability insurance premium likely
SHIPOWNERS locked in a battle to stem tumbling freight rates now face a new blow, writes James Brewer.
- Terror suspects arrested in Turkey
Turkish police have detained a suspected al-Qa’eda militant from Syria who they believe was organising an attack on Israeli targets in Turkey, Reuters reports.
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| AUGUST 11, 2005 |
- PONL acquisition complete
AP MøLLER-Maersk (APM) will complete the acquisition of Royal P&O Nedlloyd (PONL), the Anglo-Dutch container shipping group, today
- Grand Bahama scanning for nukes
GRAND Bahama Island is aiming for Container Security Initiative accreditation, and its Hutchinson Ports facility has begun scanning US-bound boxes for radiological agents
- Another blast in Port of Spain
A BOMB planted in a rubbish bin exploded in Port of Spain, Trinidad yesterday, once again raising security fears on an island with extentive LNG and oil infrastructure
- Beirut signs transhipment deal
BEIRUT and Mediterranean Shipping Co have signed a deal to enable the Switzerland-based liner company to use the Middle Eastern port as a transhipment hub
- US investigates GPS back-up
THE US Department of Transportation has reiterated that back-up systems to GPS are needed, and launched a survey of the other systems
- Varun aims for LPG peak
VARUN Shipping has bought three LPG tankers from AP Møller for a cumulative $126M; and said they are buying several more which will give them the world's largest LPG fleet
- CP buoyed by transatlantic strength
- Five in Mexican custody after sea chase
- Iraqi-Malaysian tanker venture
- Red alert in Manila after Zamboanga
- Lauritzen LPGs lead profit surge
- Malacca haze disrupts shipping
- NOL's net increases by 11%
- P&O Ferries on track for savings
- Bomb blasts hit Zamboanga
- Adsteam, Beaufort in agency venture
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| AUGUST 11, 2005 |
- Maersk completes P&O Nedlloyd buy
The $2.8 billion deal creates the world's largest container carrier; combined line will operate under Maersk Line brand in 2006.
- Liner sale aids P&O profit
- CSX plans line expansion
- NOL net up 11% in first half
- U.S., China to mull textile pact
- Rates push CP Ships growth
- Costs check Hapag-Lloyd results
- Demand pumps up Cronos net
- DHL wins Homeland Security pact
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| AUGUST 11, 2005 |
- Hapag-Lloyd volumes increase but YTD volume growth is slowing
Container-shipping boosted Hapag-Lloyd shipping to 13.8% turnover-growth in Q2 2005, thanks to 4.8% increased container-volumes and 11% increased freight-rates, but many trades struggled against cost-increases, and year-to-date volume-growth is slowing.
- Extra capacity allows NOL volume growth
- Confederation of Indian Industry quantifies falling rates from India
- Box-operators to be packaged up, suggests report
- Atlantic rates boost CP Ships returns
- P&O interim results mark ‘exceptional’-ly complex H1
- RPONL and Sealand to sail off into Blue yonder
- Mercosul Line dispute ends with delivery of vessel engine
- Ten-ship order sees AP Moller-Maersk beef up sub-panamax tonnage
- Baltic Transit train volumes grew 45% in H1 2005
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| AUGUST 11, 2005 |
- Down goes Genmar
General Maritime's high-dividend policy has cost it a ratings downgrade from credit agency Moody's.
- Transatlantic goes to greater lengths
Swedish owner to increase capacity of three forestry products carriers in Germany.
- Aries profit grows on bigger fleet
Mons Bolin's company signs new, more lucrative charters with Trafigura for next year.
- Down again for Concordia
Swedish tanker owner sees SEK 74m of profit disappear year-on-year in first half.
- Higher rates boost CP Ships
UK-based container line lifts profit despite slight fall in first half box volumes.
- Lauritzen soars
Danish owner’s diverse fleet comes up trumps with big profit leap in first half.
- TBS out of the gates
Tweendecker specialist posts good first set of results post-IPO.
- Two dead at Okean
Another 12 workers taken to hospital after fire-control system releases deadly carbon dioxide fumes.
- NIBC reaches sale deal
Shipping bank to get "ambitious" new owners keen for growth.
- Rising costs hit NOL results
Asia's second largest container line records its smallest profit increase in a year and a half.
- Maersk Line is reborn
Danish giant AP Moller-Maersk plays it straight by resurrecting 77-year-old name for new combined 550-ship fleet.
- Nedlloyd sale saves P&O
Profits for ports group quadruple but only on the back of sale of containership stake.
- Haze hampers Malacca Strait
Port closed and shipping warned of potential hazards in waterway as visibility is reduced to 1km.
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| AUGUST 11, 2005 |
- Sealand, P&ONL names to go in bigger Maersk Line operation
- P&O Nedlloyd capital gain boosts P&O group's result
- APL raises 1st-half operating profit 9% despite cost increases
- Hapag-Lloyd's profits hit by rising fuel costs, charter rates
- OMI Corp. announces authority to purchase additional shares
- FL Group management changes afoot
- Lufthansa Group posts $144 million net profit in second quarter
- BA World Cargo to start eighth Hong Kong service
- Homeland Security picks DHL for express delivery
- Cathay's air freight traffic up 19.1% in July
- Highway money ready to flow to states
- High-ranking Customs official Tischler dies
- FMC reviews 5 OTI license applications
- Miami trucker protest slows port operations
- U.S. Court of Appeals upholds Port of Houston's Bayport terminal permit
- Canadian government sets up task force to avoid future port strife
- Port of Virginia adds straddle carriers at Norfolk terminal
- Port of Vancouver, USA adds deputy executive director
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| AUGUST 11, 2005 |
- Maersk takes over and changes brand name
Today, August 11, A. P. Møller-Mærsk will take over Royal P&O Nedlloyd by paying EUR 57 per share ...
- DnB NOR increases shipping exposure
Norway’s biggest bank, DnB NOR – the world’s third biggest shipping bank – has increased its exposure in this sector from 6.1 ...
- Lake Vänern pilots could be replaced by traffic control center
The Lake Vänern regional trade council proposes that Sweden’s largest lake and the Trollhätte Canal becomes a test area to ...
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| AUGUST 11, 2005 |
- New Orleans narrowing price gap with Houston
Prices competitive in New Orleans but still dwarfed by Houston's regional dominance.
- US suppliers 'holding on' as bulls run
With crude yet again at record levels, US markets start to firm as suppliers try to hold prices steady.
- IEA: Dwindling non-OPEC supply raises call on OPEC
Falling non-OPEC supply has raised the 'call on OPEC' close to the level seen in various estimates for OPEC's July output.
- Russia: Energy ministry blocks fuel oil export duty cut
Russia's energy ministry said today that although it was in favour of cutting fuel oil export duty, now is not the right time to make a cut.
- Fuel oil, bunkers surge in Singapore
Decreasing cargo arrivals and logistical problems add to already bullish crude influence in the Singapore fuel oil and bunker markets.
- Gamekeeper or Champion: MPA strikes a balance
Singapore's MPA says dual role as both maritime regulator and promoter allows holistic approach.
- Total tight-lipped on base oil plant upgrade
Rumours regarding a base oil plant upgrade which would see a shift to Group III base oils from current Group I oils typically used for marine lube formulations have been dubbed incorrect by Total.
- Another line reports adverse effect from bunkers
H1 profits for major container line suffer from high fuel costs in the period.
- Crude above $65 on US thirst for gasoline, supply concerns
Crude prices hit new records as US gasoline stocks tighten amid heightened worries about oil supply security.
- Singapore: Fuel oil stocks fall to 6-week low
- Thick haze reduces visibility in the Malacca Strait
A thick haze has enveloped the Malacca Strait and caused operations to be stopped at Malaysia's Northport.
- Hong Kong: Bunker fuel shortage continues
380 cst supply still tight in Hong Kong, while high prices are muting demand.
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