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| MARCH 14, 2005 |
Shipping News
- Cosco container line heads for HK listing
CHINA's top shipping group, China Ocean Shipping Co , plans to float its container shipping arm, the world's seventh largest, in a Hong Kong IPO that is expected to raise more than US$1 billion.
- They dared to ride the waves
CAROL Jackson and Suzannah Vaughan make for an unlikely pair of 'crusty seafarers'.
- Proposed Iraq JV to boost M'sian Merchant Marine
MALAYSIAN Merchant Marine Bhd , the country's second largest shipping concern in terms of fleet size, is expected to benefit in the long term from its proposed joint venture in war-torn Iraq.
- Agent in Frontline's Indon deal denies wrongdoing
- Bosphorus Strait closed after container plunge
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| MARCH 14, 2005 |
- OOIL 2004 net profit doubles
- European, US manufacturers call for new restraints against the Chinese textile industry
- DSV net profit up in 2004
- P&O unveils port business plans
- XICT hosts Cosco Xiamen christening
- Thai Air Cargo leases World Airways MD-11 freighter
- Fraport February traffic growth not as strong as before
- Kitty Hawk profits surge
- Bulgarian expansion for EGSAC
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| MARCH 14, 2005 |
- OOIL reports spectacular 104 pc jump in net profit for 2004
- IRISL moves 22 m tonnes of cargo in 2004
- GCL launches US flag service
- ONGC planning to buy VLCC
- Japanese team inspects Vizag ore jetty; may sanction loan for expansion
- Growth of cargo handling at Major Ports above 11 pc in April-Dec. 2004: Review report
- KPT fixes March 22 deadline for submission of final bids
- MbPT dubs proposed IPBCC congestion surcharge as "grossly unjustified"
- D. T. Joseph invites India Inc to take part in port projects
- RVNL to build dedicated iron ore rail freight line from Haridaspur to Paradip
- Ficci urges govt to take fresh look at fringe benefit tax
- Brand new I-T law by December, assures Chidambaram
- DEPB alternative being worked out
- New Bill to spell out concessions to SEZs—Kamal Nath
- ECB norms may be eased to allow borrowings abroad at lower cost
- Depreciation rates revision ruled out
- SRTEPC urges Textile Minister to take up 80HHC issue with govt
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| MARCH 11, 2005 |
- Testing agency offers customers 'Annex VI sampling kit'
Lintec sampling kit will 'ensure (customers) do not feel any pain when Marpol Annex VI comes into force'.
- Owner pays hefty sum after charterer fails to pay for bunkers
Shipowner decides to pay for services rendered to charterer to avoid arrest, including non-payment of bunkers.
- Testing agencies cautious about routine use of GCMS
One of the leading global fuel testing agencies has launched a new service making use of GCMS as part of a routine fuel testing programme. Following a rise in incidents of serious chemical contamination of bunker fuels, there is clearly demand for this service. So why haven't other leading testing agencies followed suit?
- Oil industry calls for less responsibility for spill payouts
The oil industry is putting pressure on shipowners and their P&I clubs to shoulder a larger portion of the financial burden incurred from oil spills
- Crude continues to tumble on lower Chinese imports
Crude oil prices continue to fall after news that Chinese demand growth slowed in January and February.
- High sodium alert issued for Jebel Ali
Several heavy fuel oil samples in Jebel Ali found to contain high sodium and relatively low water content.
- Bay Ferries handed task of ferry turnaround
After previous operator went bust for unpaid bunker bills, new operator lined up by ferry owner.
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| MARCH 11, 2005 |
- Smithway selects Route Advice and Trip Alert
- Spain passes new rail law and opens network access
- Swisslog: order for fully automated DC in Norway
- ABX for sale
- Lufthansa/Swiss takeover?
- P&O Ferries to discontinue Le Havre-Portsmouth service
- Eckelmann-Battistello new Fepo
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| MARCH 11, 2005 |
- Asian owners slam EU, warn on Canadian bill
- Feport opposes revived EU port services’ directive
- Agent in Frontline VLCC deal denies any wrongdoing
- LNG business set for investment boom
- Exmar orders 84,000 cu m LPG ships
- English Channel price war
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| MARCH 11, 2005 |
- Bordelon orders two at Bollinger
- Navy accelerating plans to retire carrier
- Coast Guard faces "readiness gap"
- Barge fleet still shrinking
- MAN B&W power for ice-class bulker
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| MARCH 11, 2005 |
- Greenbrier nets orders for close to 5,000 railcars
- February good month for rail freight traffic
- Boeing tsunami contributions surpass $4.5 million mark
- Washington governor creates new ferry security division
- Port of Seattle gives land to Seattle community college
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| MARCH 14, 2005 |
- Cosco closes in on bumper HK listing
CHINA'S largest shipping company, has taken the first step in a long-awaited plan to list its liner shipping subsidiary in Hong Kong in what could be a massive HK$23.4bn (US$3bn) deal.
- Cosco liner arm eyes $3bn listing in Hong Kong
CHINA Ocean Shipping (Group) has taken the first step in a long-awaited Hong Kong listing for its liner shipping subsidiary, a deal estimated at HK$23.4bn (US$3bn).
- End in sight for Exxon Valdez law saga
EQUITAS can begin sorting out a complex $780m claims roundabout after a judgment in the Court of Appeal in London brought clarity to a reinsurance dispute related to the Exxon Valdezoil spill.
- Frontline’s agent defends role in controversial Pertamina tanker sale
JAKARTA company PT Equinox, which acted as agent and broker for Frontline in its controversial purchase of two VLCCs from Pertamina, has defended the quality of the bidding process, writes Marcus Hand in Singapore.
- Angelini to sell out of booming CSAV
THE Chilean Angelini group has agreed to sell its 18.4% stake in Compania Sudamericana de Vapores, Latin America’s biggest shipping company, for an estimated $308m, Bloomberg reports .
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| MARCH 11, 2005 |
- Stevedores hold back short-sea
GRIMALDI Group logistics director Paul Kypraniou warned this week there would be no motorways of the sea in Europe while stevedore costs remain as high as they are
- Weather hinders survivor search
BAD weather has hindered the search for 14 seafarers lost following the collision between a Korean general cargo vessel and the German vessel Rickmers Genoa
- Ecstasy cruising to nowhere
CARNIVAL Cruise Lines’ Ecstasy has found itself on a ‘cruise to nowhere’ after propulsion system problems and now weather have kept the ship from reaching Mexico
- Ernst Russ to build China business
GERMAN shipbroker Ernst Russ is to expand its newbuilding and S&P business in the Asia Pacific region with the opening of a new office in Shanghai in mid-April
- UK box haulier strike threat
- Hamburg-Süd upgrades Latin route
- D'Amico, Mitsui set up in Ireland
- Russian operator renamed, relocated
- Kaliningrad might lose oil exports
- Exxon Valdez payout clarified
- India-US rate raise set
- Profits soar at Samskip
- Pirates release tug crew
- Rhine-Rhone proposal resubmitted
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| MARCH 11, 2005 |
- Fuel charges hit air cargo
As crude soars to record highs, airlines eye balance sheets and turn to surcharges to help cover costs.
- Industry worries about repeat of LA peak congestion
- U.S. trade deficit grows
- Senate to get highway bill
- Coast Guard’s $919M wish list
- TSA deputy to ChoicePoint
- Dirty bomb checks for Singapore
- WW designs 'ship of the future'
- Meridian IQ in China buy
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| MARCH 11, 2005 |
- Antwerp dredge deal opens way for further deepening
Dutch transport minister Karla Peijs and Johan van de Lanotte, Belgium’s minister for state enterprises, formally signed a deal that will see the River Scheldt dredged to 13.1m.
- US Lines expands on its alliance strategy
US Lines has denied its entry into the Americas Alliance was necessary to reduce costs; rather, the company is using the alliance to expand its services.
- Cosco Holdings seeks Hong Kong listing
- NEWS FLASH! - Scheldt dredge MoU to be signed today
- Kwai Chung customs seize 7.7m illegal cigarettes
- Missing crew search called off as Rickmers Genoa heads for port
- Cosco commences new European service from Xiamen
- India allots $10bn for development of container terminals
- Legislators try to close ‘non-market’ loophole, as trade gap widens
- Shenzhen throughput up 15.4% in February
- Pan Continental and Hub Group place box orders
- HK official throughput figures fail to reflect real growth
- Gothenburg container depot to be created
- San Diego commissioner resigns over Cuba row
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| MARCH 11, 2005 |
- HMM springs back into the black
Korean shipowner erases 2003’s loss with big earnings last year.
- Daesun shines again
Korean shipbuilder emerges from loss-making 2003 with slim 2004 profit.
- Tax boosts ISH
Tax reform doubled International Shipholding's results but high gearing has it under pressure.
- Seyang climbs
Korean bulker and car ferry owner doubles revenues and pushes up profit in 2004.
- Exxon Valdez appeal fails
Judges rule against Lloyd’s syndicate in long and costly retrocessional dispute.
- Small list for Japanese
Port state officials hold 14 ships during February, mostly general cargoships.
- Stolt does u-turn on dividend
Company will now distribute $130m to shareholders after abandoning no-payout policy.
- Aussies hold ten
Ceres Hellenic, U-Ming, Eastern Mediterranean and Atlantska Plovidba all make February list.
- CSL bulker causes storm
Canadian government defends decision to send ship to India for scrap.
- OOCL expands in Vancouver
Hong Kong container line to invest CAD 60m in boosting capacity at Deltaport and Vanterm.
- Vita sells Green River
Fresh from ordering new tonnage fledging Singapore owner offloads ship to Chinese principal.
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| MARCH 11, 2005 |
- China Shipping profits surge
- COSCO expects West Coast congestion, plans another PNW loop
- Wallenius Wilhelmsen offers vision for pollution-free ocean vessel
- FESCO starts Korea/Sakhalin Island shuttle
- Cathay Pacific posts record revenues
- World Airways to fly cargo for Thai startup
- Flugleidir Group changes name to FL Group
- House passes $284 billion highway bill
- Engineers' report card gives U.S. waterway infrastructure "D-"
- Canadian government, farmer coalition to negotiate hopper car transfer
- CN promotes Harris
- SOS trade legislation targets Chinese subsidies
- Guatemala approves CAFTA
- U.S. maintains steel imports oversight program
- U.S. lumber group supports litigation hold during U.S./Canadian talks
- U.S., Singapore enter anti-nuclear materials smuggling agreement
- U.S. pork exports up, free trade challenges loom
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| MARCH 11, 2005 |
- Record cruise season in Norway
Norway will have close to 1,500 calls by cruise ships this year and the number of passengers will pass 300,000 ...
- "Stena Danica" hit the bottom
"Stena Danica" is at present in dry dock at the Cityvarvet in Göteborg after having hit the seabed when calling ...
- Stage 2 in Vysotsk completed
According to SeaNews.ru, the second stage of LUKoil’s terminal in the Port of Vysotsk has now been completed and the ...
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