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| JUNE 14, 2005 |
Shipping News
- New ship prices on the decline, says Clarkson
SHIPBROKER Clarkson has cut its assessment of new ship prices from records because of falling demand for vessels and lower steel prices.
- Teekay, Mitsui OSK among firms set to win US$3b Qatar tanker order
TEEKAY Shipping Corp, the world's largest oil tanker company, and Mitsui OSK Lines Ltd, Japan's second-biggest shipping line, are among a group set to win a US$3 billion order for liquefied natural gas tankers from Qatar.
- M&A can wait till share and vessel prices fall: Teekay
TEEKAY Shipping Corp, whose ships carry more than a 10th of the world's seaborne crude oil, will avoid purchasing smaller competitors until share and vessel prices decline, said chief executive Bjorn Moller.
- Australia closes anti-trust case against Stolt-Nielsen
- US still debating rule for US$1 container security seals
Port Shots
- Port Shots
THE price of oil tankers and other vessels to be scrapped fell last week in Bangladesh and India, the world's biggest ship demolition markets, because of a drop in prices of recycled steel plates.
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| JUNE 14, 2005 |
- Hutchison sells stake in HIT and Cosco-HIT to PSA
- Royal P&O Nedlloyd shareholders mull AP Moller-Maersk offer
- Boston longshoremen fraud scam exposed, report alleges
- Chinatrans to use Singapore as hub
- Okay given for trial dredging at Melbourne's Victoria Channel
- HK May air cargo shows robust growth
- Shenzhen Airlines receives first 737-900 in China
- Volga-Dnepr Group's 2004 revenue hits US$300m
- Taeco to build 5th hangar in Xiamen
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| JUNE 14, 2005 |
- Stepping stone to superior ports, infrastructure
- DCI bags Enterprise Excellence Award
- 9 services related to shipping out of tax net
- SCI posts staggering 126 pc rise in net profit in 2004-05
- Landlocked Jharkhand offers to collaborate in building dedicated port along Gujarat’s coastline
- Former TPT trustee elected President of AICCI, Tuticorin
- CoPT replaces oil pipelines in record time
- Operations at Major Ports may be partially hit today
- 5 in fray to develop port at Gopalpur
- Rs 125-cr. dry dock facility for ship repairs planned at New Mangalore Port
- Railway Ministry drafting terms for private sector role in box movement
- Dehong-Mandalay road extension to Assam seen as a key to development of Indo-China trade
- Forex reserves up by $ 175 million to $ 1,39,829 million
- Certification for Cenvat credit claims on cards
- ECBs ceiling raised by $ 3 bn to $ 12 bn
- Ban on import of light black pepper lifted
- Panel to finalise approach to rules of origin for FTA with Asean in a month
- Capital goods industry in for better deal
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| JUNE 13, 2005 |
- New Luxair general director
- A.P. Møller-Mærsk A/S makes offer for Royal P&O Nedlloyd
- Swissport and Air France sign agreement
- Bayernhafen Regensburg launches ro-mo to Graz
- Prologis to acquire Catellus for USD 4.9 billion
- Bangladesh to reduce customs duty on raw materials
- DHL Danzas Air and Ocean selects Metaship intermodal software
- Air and Port Security Expo Europe 2005, Brussels, 22 June
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| JUNE 13, 2005 |
- Baltic Exchange cuts loss
- Aussies drop Stolt-Nielsen cartel probe
- Bimco updates bunker clause
- Stolt Offshore charters cable layer
- American Club fights fatigue
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| JUNE 13, 2005 |
- Management promotions at Bollinger
- Maritrans takes delivery of sixth d/h barge rebuild
- USCG port state detentions rise
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| JUNE 13, 2005 |
- Port of Olympia names interim director
- Portland International Airport will go with common use system
- Port of Kalama holding open house for Milford Westin
- The New World Alliance makes peak season adjustments
- Hanjin set to launch service to Mexico, Guatemala
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- Green scoops £5m from Maersk deal
TAKEOVER target Royal P&O Nedlloyd’s boss Philip Green is set to bank £5.4m ($10.2m) from Danish shipping giant AP Møller-Maersk’s €2.3bn ($2.9bn) swoop on the Anglo-Dutch operator.
- IACS clinches ‘peace in our time’
A LANDMARK deal was clinched last night in Paris for a single set of global shipbuilding standards intended to make new ships stronger and safer, but almost certainly more expensive.
- Cosco will offer hefty dividends
AN EARLY viewing of the draft prospectus for the forthcoming initial public offering of Cosco Holdings shows the mainland shipping firm is offering large dividends as a sweetener for investors worried the container offering might be launching as the market peaks.
- Bulker quarantined amid Marburg bug death alarm
A BULK carrier remains in quarantine off Réunion after the death of a seafarer sparked fears of an outbreak of the horrific Marburg virus, writes David Osler.
- Flemming Jacobs joins DVB Bank’s board
DVB Bank, Frankfurt, specialist in the global transport market including ship finance, has announced the appointments of Flemming Jacobs and Robert van der Burg to the bank’s supervisory board, writes Valerie Tadesse in Cologne.
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| JUNE 13, 2005 |
- Stolt off hook in Australia
THE Australian Competition & Consumer Commission has found insufficient evidence to pursue investigations into alleged cartel practices by Stolt-Nielsen Transportation Group
- Profits up 127% at SCI
SHIPPING Corp of India (SCI) has increased net profit by 127% to Rs14Bn ($323M) for the financial year 2004-05, helped by an extraordinary tax write-back
- EU report on conferences released
THE abolition of EU liner conferences would not have any significant impact on capacity or market structure, according to a report to the EU Transport Directorate
- Kiperousa facing storm
- P&O Nedlloyd bid opens today
- India sources Caspian oil
- India looks to Australian LNG
- Channel Tunnel turmoil
- Fishermen block Bayonne
- French catch another med polluter
- Houston doubles up
- Minimal disruptions from Arlene
- French blockade Irish Ferries
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| JUNE 13, 2005 |
- Trans-Pac ag rates rising
Exporters facing higher freight rates from Tacoma (left), other ports as carriers struggle with growing trade deficit imbalance.
- TACA extends fuel charge
- Cargo plane crashes in Fla.
- Chinese cargo to rise 50%
- Matson hikes fuel charge
- Intermodal rail moves up
- EU chides U.S. China tactics
- Profits double for SCI
- Frankfurt air-cargo record
- BA doubling Heathrow capacity
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| JUNE 13, 2005 |
- Hutchison confirms HIT share sale to PSA
Hutchison Whampoa announced yesterday that it had signed an agreement to sell 20% and 10% stakes in Hongkong International Terminals (HIT) and Cosco-HIT respectively to PortCapital, PSA International’s investment company.
- Sino-EU textile negotiations avoids trade war
- Euro parliament to host ‘delicate’ public hearing on port services directive
- Netherlands rail transport strike announced for Friday
- Chinese foreign trade shows healthy growth
- Maruba west-coast shuttle service to create Americas gateway
- EC report: Major trades to see lesser impact from any conference abolition
- South American neighbours discuss port swap scheme
- CIS containerised cargo increase exceeds overall cargo growth
- All change in Tacoma, as redeveloped Husky Terminal opens
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| JUNE 13, 2005 |
- Capital ideas
Marinakis' Capital Maritime & Trading poised to be next company to US public equity market.
- Capital Maritime seeks $250m
Marinakis family offering could top $300m with underwriter shares for 35-unit mixed fleet of products tankers, OBOs and bulkers.
- Slobbe takes the helm
High flying Dutchman set to be sole top level Royal P&O Nedlloyd survivor of Maersk takeover.
- MAIB slams manning levels
UK accident investigators call for IMO or EU to set minimum crewing levels.
- Greenbacks for Green
AP Moller - Maersk confirm that P&O Nedlloyd takeover will put $10m in Philip Green’s pocket.
- Eitzen buys again
Listed Nowegian shipping group spends $10m to add to its chemical carrier fleet.
- Baltic slashes loss
London shipping exchange half way to breakeven plan aimed at paying hefty dividends.
- Sumatec adds tanker
Malaysian shipping newcomer raids Japan for products carrier.
- SCI banks huge profit
Indian owner builds earnings in year to 31 March, adding to war chest for acquisitions.
- US ship detentions rise
Coast Guard reveals setback to steady improvement in shipping safety standards.
- BC Ferries boosts bottom line
Better year for Canadian owner to 31 March, but rising fuel prices causing concern.
- No action down under
Stolt-Nielsen cartel probe wound up in Australia due to insufficient evidence.
- Rieber leases long-term
Norwegian owner’s cable-layer chartered to Stolt Offshore for up to nine years.
- Bibby takes charter plunge
UK owner signs up Volstad Maritime's diving/construction newbuilding for the long term.
- Eimskip orders more reefers
Icelandic owner adds another two ships to newbuilding backlog and also agrees options for four more.
- Li Ka-Shing backs Cosco IPO
Asia’s richest man confirms $150m investment in Cosco Holdings’ Hong Kong initial public offering.
- Gas scare halts boxship
Eimskip’s 841-teu Lagarfoss (built 1995) delayed off Aberdeen after crew find ammonia gas leak.
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| JUNE 13, 2005 |
- Maersk's formal bid for P&O Nedlloyd effective today
- EC consultant: No big impact if conference immunity is ended
- NIT League opposes bill on Californian box fees
- Pressure grows for ocean rate increases on ag exports, WTSA chief says
- Matson raises fuel surcharge
- Volga-Dnepr's revenues top $300 million
- Nippon adds 747-400
- XRG secures $1.6 million for reorganization
- PSA, Hutchison enter $925 million terminals deal in Hong Kong
- Shreveport gets $200 million steel production plant
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| JUNE 13, 2005 |
- Offer launched on Royal P&O Nedlloyd
A.P. Møller-Mærsk A/S has now launched its official offer for the shares in Royal P&O Nedlloyd. The ...
- Bulk carrier free from Great Belt position
The Greek owned bulk carrier "Eleftheria", which grounded in Great Belt last week, is now salvaged. Sunday afternoon after nearly ...
- "Schieborg" back in service
The ro-ro vessel "Schieborg" has re-entered the Cobelfret service Göteborg – Zeebrügge after extensive repairs. The vessel was badly ...
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| JUNE 13, 2005 |
- Light demand for bunkers on US west coast
Ships in port in Los Angeles but suppliers not seeing enquiries coming in.
- Fuel costs force Canadian ferry operator to seek surcharges
BC Ferries to impose passenger and vehicle surcharge to cover high fuel costs.
- Brand new tanker to service Portland bunker station
Southampton-based tanker operator Crescent Tankships, which is set to double its fleet with new-builds by mid-2007, expects its newest tanker to begin service for BP Marine in Portland shortly.
- Significant international interest in Turkish bunker venture
Turkish Petroleum distributor Petline has said that it has already received significant international interest for its proposed joint venture bunker operation in Turkey.
- MPA: Corrupt manager's sentence an effective deterrent
The sentence imposed on the former manager of Lungshan Petroleum will act as an effective deterrent against corrupt practices in Singapore's bunker industry, officials have said.
- Bunkering company established in Tokyo
A Japanese company called International Bunker Services K.K. (IBS K.K.), part of a huge Danish shipping and bunkering group, has recently been set up in Tokyo.
- Rotterdam barges heading higher at midday
- Hong Kong: Impending cleanup works may affect bunker supplies
Major maintenance and cleanup works on bunker fuel tanks are expected to commence this month leading to possible tightness, market sources said.
- Crude prices fall after passing storm
The passing of Tropical Storm Arlene with minimal disruption to US oil supply from the Gulf of Mexico sent crude oil prices falling below $54 in New York on Friday.
- NYMEX and Dubai sign partnership to build futures exchange
NYMEX and Dubai have signed a deal to build the first energy futures exchange that will also offer futures trading in marine oil at the port of Fujairah in the Middle East.
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