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| JUNE 1, 2005 |
Shipping News
- Mergers expected to fuel demand for shipping stocks
THE market value of tanker companies is poised to soar in the next five years as mergers fuel investor demand for shipping stocks, said Peter Anker, managing partner at Norway's RS Platou Shipbrokers.
- Portek Int'l clinches new contracts worth $23.6m
PORT equipment engineering company Portek International Ltd has clinched new contracts worth a total of $23.6 million, thanks largely to high oil prices and Mexican ports seeing a steady increase in container throughput as a result of healthy international trade with Asia and the US.
- MISC to keep container fleet: report
MALAYSIAN International Shipping Corp says it will not sell its container fleet, denying earlier reports that it would, the Star newspaper said, citing president and chief executive Shamsul Azhar Abbas.
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| JUNE 1, 2005 |
- Hutchison, Temasek rumoured to be buying stakes in Cosco
- Hong Kong throughput down 3 per cent in Q1
- Yang Ming christens vessel
- PSA invests S$400m to maintain transshipment hub status
- Auckland throughput up slightly in April
- Delta CEO calls for different approach to US airline pension funding crisis
- Continental introduces daily service from Bangor to New York
- Envirotainer box given go ahead to take to the skies
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| JUNE 13, 2005 |
- A.P. Moller-Maersk bid to acquire entire share capital in Royal P&O Nedlloyd NV
- Singapore’s Competition Act pits shippers against lines
- TNWA unveils peak season services - Deployment changes in PS2 & PSX services
- MOL in gas carrier deal
- CMA CGM launches new express service linking Asia-US East Coast
- PONL completes ship recycling project
- CP Ships to rename vessels to reflect single brand
- Terminal heavyweights to join debate at TOC2005 Europe
- VPA defers security fee
- India may sign BIPA with European Union
- India, China discuss implementation of Customs cooperation agreement
- ITPO, WTC Mumbai to join hands to promote trade fairs
- Russian Consul sees scope for doubling trade in 5 years
- Sethusamudram project foundation may be laid within a month
- Limited trade impact, dropping revenues compel TPT to withdraw concessions in vessel-related charges
- Australia offers expertise to build LNG terminal in south Indian Port
- MbPT may float tenders to privatise 4 ID terminals by month-end
- R. Jayachandran takes over as FA&CAO of MbPT
- Railways’ wheels spin faster to wean away road freight
- Freight forwarders demand remuneration for collecting and remitting air cargo surcharges
- Kandla, Noida FTWZs cleared
- Port community EDI update - The vision is very important - By Stephen Vincent
- One-to-one meetings with Korean team today
- 17th batch of Export Import Workshop gets under way
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| JUNE 10, 2005 |
- U-Freight strengthens sales team in Japan
- Turkey's largest containership delivered to Arkas
- United Airlines to conclude Chapter 11 insolvency procedures this year
- A new service provider
- PWC Logistics awarded prime vendor contract
- EU seeking safer trans-Alpine traffic after latest tunnel fire
- Kuehne + Nagel joins Afra Airfreight Rates Database
- Fiata World Congress 2005 in Moscow
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| JUNE 10, 2005 |
- Two new kidnapping cases - Malacca Strait and Somalia
- Stolt-Nielsen orders 4 tankers
- GL launches "paperless" project
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| JUNE 10, 2005 |
- Schnitzer, Hugo Neu announce termination of joint ventures
- US rail freight traffic experiences slowdown in March
- Tall ships will headline Tacoma Freedom Fair
- Portland Port Commission Oks north runway study for PDX
- Boeing forecast predicts doubling of world airplane fleet
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| JUNE 13, 2005 |
- Claims surge threatens marine hull insurance outlook
SHIPOWNERS are being warned that the marine hull insurance market is at a turning point in its ability to maintain quality support for the maritime world.
- Ambitious MISC targets tanker markets
MALAYSIA International Ship-ping Corporation is eyeing an entry into the product clean tanker business and longer haul aframax crude trades as it builds up its presence in Europe.
- ‘Blank cheque’ Star chases $200m IPO
Star Maritime Acquisition, a new Greek-backed ‘blank check’ company that surfaced last week, is seeking $200m from investors in order to pursue a business combination with an existing operation in shipping or ‘related industries’.
- Top trumps share woes
NASDAQ-listed TOP Tankers is gearing up for a new round of expansion despite having its plans to diversify in the dry bulk sector scuppered last month when it pulled a proposed private placement linked to buying bulkers, writes Nigel Lowry .
- EU study delivers blow to conferences
AN UNPUBLISHED report compiled for the European Commission concludes that the abolition of the block exemption for liner conferences will not have any significant impact on capacity or market structure, claims Britain’s Freight Transport Association, writes Roger Hailey.
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| JUNE 10, 2005 |
- Moscow to evaluate state's holdings
THE federal transport ministry in Moscow is to tender for an independent appraiser to estimate the value of the government's stakes in Sovcomflot and Novoship
- Brazilian tax exemption extension
BRAZILIAN box terminals looking to expand have received a boost from the government, which has announced an extension to income tax exemptions
- Dubai to host energy exchange
DUBAI will host the first energy futures exchange by early 2006, the New York Mercantile Exchange (Nymex) said today
- NYK likely to appeal Ceres ruling
- Owners are victims of mistrust
- Tropical storm Arlene approaches
- Volgotanker take-over gets personal
- Baltic truckers prefer roads to sea
- Fifth North West Shelf train
- Kiperousa refloat efforts fail
- Double-hull safety recommendations
- China approves LNG terminals
- Huge fine for Corsican polluter
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| JUNE 10, 2005 |
- Maersk makes formal P&O offer
A.P. Moller-Maersk said it will will make a cash payment of $69 per share, for a total purchase price of $2.8 billion, for P&O Nedlloyd.
- EU, China discuss trade dispute
- Cosco IPO to raise $1.65B
- Bill for U.S. Seaway tolls
- Bone leads CG port security
- Trinity boosts profit outlook
- Four new tankers for Stolt-Nielsen
- NS shop to FreightCar America
- UTi Worldwide profit up
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| JUNE 10, 2005 |
- Asia-ECSA rates under pressure, with service expansion
With new market-entrants and expansion by existing operators, lines on the Asia-East Coast South America trade are facing a sharp rate-drop, with rates having already fallen 15%, according to shippers.
- Sino-EU textile negotiations taking place in Shanghai
China’s minister of commerce Bo Xilai and the EU trade commissioner Peter Mandelson began talks today in Shanghai in an effort to solve the textile trade dispute.
- EWATA sets sights on ‘crucial’ general rate increase
- China Shipping studying second Asia-SA string
- Cosco Holdings IPO secures strategic investors
- Russian Federal Anti-monopoly Commission signals rail-problems
- AP Moller offer opens to RPONL shareholders from Monday
- SEA-Australia group joins rates ramp-up
- Coscon to launch India/Pakistan service
- China ASEAN FTA cuts tariffs for more goods
- Hanjin to introduce port security charge in US ports
- Peel Ports acquisition encircles UK coasts
- Gwangyang tempts China shippers
- Branch-line for newest Novorossiisk terminal
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| JUNE 10, 2005 |
- Maersk heads for squeeze-out
Maersk’s $3bn bid for P&O Nedlloyd sees offer opening on Monday.
- Arlington talks dividends
Investors guaranteed $2 per share for the year though will company make analysts’ targets?
- New Greek blank-cheque IPO
Akis Tsirigakis and Petros Pappas want $200m of public money for Star Maritime Acquisition Corp.
- Papachristidis adds another
Group buys third suezmax, this time from Eastern Med.
- QMAR spreads net wider
Panamax bulker owner Quintana Maritime is upping its IPO to $345m.
- Uljanik in at Lenac
Croatian shipbuilder to play key part in rescue of bankrupt compatriot yard.
- OSG continues sweep
Morten Arntzen's tanker operation sells another early-1990s built tanker.
- VLCC goes into storage
Tanker Pacific vessel lined up for conversion into FPSO for Petrobras in Brazil.
- Maersk plumps for China
Container operator set to establish new holding company in Beijing to oversee all regional activities.
- US Navy thwarts pirates
Destroyer USS Gonzalez helps ward off attack on Greek bulker sailing off the coast of Somalia.
- Minoan sells oldie
Ferry operator offloads last pre-nineties built vessel.
- Safety fault stops Aratere
Incident-prone Kiwi ferry pulled out of service again following a “minor” mechanical fault.
- Japanese detentions up again
Port state list for May shows 26 vessels failed inspections, including Shih Wei bulker.
- TOP wants more pop
US-listed Greek company wants shareholders to OK doubling of its authorised common stock to fuel growth plans.
- Patrol ship Jakarta bound
Japanese Coast guard patrol vessel Yashima is due in Indonesia later this month for anti-piracy drill.
- Todd's earnings jump
More navy work plus better margins on commercial contracts lift full-year results at US west coast yard.
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| JUNE 10, 2005 |
- Hutchison, Temasek to buy strategic shares in COSCO
- COSCO starts Indian subcontinent feeder service
- CORRECTION: MOL, APL reinstate peak-season Seattle sailings
- Agriculture groups beef up last minute lobbying for CAFTA
- House approves $100.3 billion ag spending bill, delays origin rule
- USTR chief praises House action on WTO agreement
- USDA undersecretary for marketing and regulatory programs Hawks resigns
- North American ports handled 44.4 million TEUs in 2004
- New terminal planned in New Jersey
- Dubai Ports named preferred bidder for Aden container terminal
- Court denies NYK's bid control to Ceres terminal in Amterdam
- Busan port interests seek U.S. investors
- U.K. investment group acquires port of Liverpool operator
- McCarthy named Toronto Port Authority chairman
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| JUNE 10, 2005 |
- Three hour work stop in EU ports
The International Dockworkers Council has called for a three hour work stop in all EU ports on 14 July. The ...
- Höegh order four more car carriers
Höegh Autoliners – a Leif Höegh division – order four more Pure Car Truck Carriers (PCTC) with Tsuneishi Corporation for delivery in ...
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| JUNE 10, 2005 |
- US barge builder announces new contract
Company will shortly start construction of its largest tank barge.
- Light demand keeps suppliers competitive in US Gulf
A quiet week has seen prices soften as suppliers keep close eye on crude movements and tropical storm forecasts.
- Ferry operator to appeal "severe" pollution sentence
Corsica Ferries to appeal against what it calls "a severe interpretation of the law" after the master of one of its vessels was found guilty of pollution offences.
- Reports: Marpol regulations prompt cargo dispute in Singapore
A fuel oil cargo trade has turned sour after a trader failed to fix a suitable tanker in time for loading dates.
- Ship-Service says core business not affected after fraud charges
Polish bunker supplier Ship-Service SA issued a statement today regarding the continuation of the company's bunker operations despite the arrest of the company's president for fraud and reports that the major shareholder PKN Orlen SA wishes to sell the company.
- ARA market firmer with crude
- Cosulich launches first double-hulled barge
Fratelli Cosulich's first double-hulled barge has been launched from a Chinese shipyard, expected in Singapore soon.
- Bid reopens for Inchon refinery
Inchon Oil Refinery continues to be a strong supplier of bunker fuel in Inchon port, traders said, despite the reopening of a bid to sell the company.
- Reports: Polish supplier for sale, chief arrested
Polish news wires reported last week that the country's largest bunker fuel supplier Ship-Service is up for sale after its chairman was arrested on two charges of fraud.
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