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| OCTOBER 14, 2005 |
Shipping News
- Anchor, bow of Henry VIII's warship raised after 460 yrs
THE anchor and a section of the bow from King Henry VIII's Mary Rose have been raised to the surface, 460 years after the warship sank off the southern English coast during a battle with the French.
- Shanghai Port's Sept container volume rises
SHANGHAI International Port Co, which operates China's busiest port, handled 19 per cent more containers in September than a year earlier as the country's growing trade increased sea freight.
- Rotterdam Port to cut 10-15% of workforce
ROTTERDAM Port, the second-largest in the world, said it will reduce the number of employees by 10 per cent to 15 per cent in the coming four years to improve its finances as it expands to meet competition from other European ports.
Admiralty Casebook
- When port of discharge in contract is not final
AN AUSTRALIAN court has upheld the decision of an arbitration panel that the phrase 'final port of discharge' meant the port where cargo was ultimately discharged even if the seller and buyer had agreed for the cargo to be discharged at another port.
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| OCTOBER 14, 2005 |
- TUI gains EU approval for CP Ships takeover bid
- Exel hosts logistics forum in Hong Kong
- "K" Line firm starts container trucking services in Guangdong
- U-Freight Indonesia sets up shop in Batam
- Port of Tacoma invests in environmental protection
- Aan Boord Cargo to ship Vietnamese buses to Dominican Republic
- CX sees cargo volumes increase 20pc in September
- EGSAC appoints associate member for Sri Lanka, Maldives
- LAN Airlines confirms order for A320s
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| OCTOBER 14, 2005 |
- MOL, ACL, Simatech launch Nhava Sheva Tuticorin Express service
- MoS asks shipping cos to furnish details of allocations made for vessel acquisition
- MoS finalising draft Shipping Trade Practices Act to monitor industry intermediaries
- World project group organises founding conference
- Need to develop maritime infrastructure stressed
- Varun Shipping to acquire 2 LPG carriers
- Kamal Nath calls meeting to review export performance
- EU seeks deal to curb influx of fake goods
- Common Internet platform to link all Major Ports
- Tuticorin Port throughput up by 15.15 pc in Sept.
- New Mangalore Port posts 12.09 pc growth in cargo handling in H1
- AIEC AGM today
- Forwarders’ Club AGM tomorrow
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| OCTOBER 13, 2005 |
- OH Logistics appoints Dave Hanley and Nathan Sanders
- Port of Gothenburg's cargo-handling truck fleet growing
- Globe Air Cargo wins Ethiopian Airlines contract
- Kombiverkehr: new Germany-Spain blocktrain
- Kuehne + Nagel expands in Spain
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| OCTOBER 13, 2005 |
- TUI’s takeover of CP cleared by Brussels, on conditions
- L&B agrees to ITF deals, on some ships
- MSC chief engineer charged in US over pollution allegations
- OSG in newbuilds deal
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| OCTOBER 13, 2005 |
- MARLO Bahrain issues piracy advisory
- Aker Drilling share issue oversubscribed
- Promotion for Chris Bollinger
- SembCorp Marine unit completes Sabine acquisition
- OSG spin-off Double Hull Tankers prices IPO
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| OCTOBER 13, 2005 |
- United Harvest reopens Vancouver, Washington grain elevator
- Over $20 million in investments set for Fishermen's Terminal in Seattle
- Port of Vancouver, USA taps Shuck as facilities director
- Bremerton Port Commissioners pass resolution slamming I-912
- Port of Seattle Commissioners Ok domestic partners policy
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| OCTOBER 14, 2005 |
- Morgan Stanley warns of shipyard crisis
A CRISIS could be looming for world shipbuilding with a leading US investment bank warning that overcapacity in the industry could be as much as 30% in 2008.
- Black Sea nations to name and shame rogue owners
ROGUE shipowners operating substandard tonnage in the Black Sea face the prospect of “blacklisting” by ports in the region.
- Frontline a big loser as shipping stocks take a pasting in US and Europe
Shipping shares came under intense pressure on both sides of the Atlantic yesterday, with tanker companies generally bearing the brunt of investor disenchantment, writes Tony Gray.
- Confident DHT goes ahead with discounted Wall Street share offer
DOUBLE Hull Tankers has gone public with a truncated and heavily discounted share offering, apparently placing greater faith in its macro- economic crystal ball than in hard-nosed Wall Street jockeying.
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| OCTOBER 13, 2005 |
- SNCM staff vote for return to work
A significant majority of French ferry operator SNCM's staff voted this morning to end strike action and return to work. Observers say such a last-minute reversal by the company's unions, which have always fiercely rejected any idea of privatisation, was driven by fears that SNCM could be declared bankrupt tomorrow
- EC forces Hapag to leave conferences
THE European Commission has given clearance for the acquisition by TUI of CP Ships to go ahead, but on condition that TUI subsidiary Hapag-Lloyd quits two conferences.... Full story
- Double Hull completes shrunken IPO
DOUBLE Hull Tankers wrapped up its initial public offering after receiving $101.7M less in net proceeds than originally hoped.... Full story
- Gazprom to run Arctic tankers
GAZPROM, the Russian gas and oil producer, is to own and operate a two-tanker oil transport route in the Arctic, a Gazprom official told Fairplay.... Full story
- Petronet LNG loses foreign bidders
GOLAR LNG and Qatar Shipping Co have withdrawn from Petronet LNG's bidding process, saying the tendering process is moving too slowly.... Full story
- India sets out cruise strategy
INDIA’S government is to encourage foreign direct investment in cruise shipping as part of its policy to boost tourism.... Full story
- Indonesian handling charges fall
- Mittal, ONGC in energy partnership
- Irish Sea Express service ends
- US energy demand to dip
- More choppy seas for IPOs
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| OCTOBER 13, 2005 |
- CMA CGM chief executive quits
John Van de Merwe made his widely rumored resignation from the world's fourth-largest container line official today.
- OSG unit's stock inches up in first day of trading
- KCS to prepay taxes in areas hit by Rita
- China Shipping revenue jumps
- US-China textile talks break down
- DHL: China to yield 75% of Asia sales in 5 years
- Congestion jams Bangladesh port
- India official: US must cut more farm aid
- Traffic up 14% at Indian port
- North-South Korean trade volume nears record
- China resists US pressure on yuan
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| OCTOBER 13, 2005 |
- China/US textile talks end in silence
The fourth round Sino-US textile talks ended today in Beijing, once again without any agreement reached to ease the trade tensions between the two countries.
- Containers to account for 60% of Rotterdam growth through 2009
- K Line launches Mediterranean service
- Northeast Baltic hinterland widens cargo-inlets/outlets to channel flows
- Brisbane gets nod for FI Berth 10
- Two smugglers caught at Gunsan Port
- Inchon’s Sunkwang Container Terminal attracts new services
- Gwangyang Port to be deepened
- Logistics duo selected as Busan New Port CFS operators
- Correction: Jindo containers
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| OCTOBER 13, 2005 |
- Genmar sells 10 singles
New York owner fetches $290m-$300m from Tanker Pacific in disposal of its single-hull and double-sided suezmaxes, market sources say.
- JP Morgan rethinks tankers
JP Morgan’s Jonathan Chappell has soured on crude until further notice and is handing round cookies to big products fleets.
- Maritrans betters credit terms
Expansive US tank-barge specialist Maritrans has won cheaper and less restrictive credit to allow unspecified acquisitions.
- SNCM workers end strike
Employees vote overwhelmingly to halt stoppage but pledge to come up with their own takeover plan.
- Black Sea run for K Line
Japanese boxship owner sets up weekly transhipment route from Port Said.
- Japan holds 32
China’s Yantai Golden Ocean had two mini-bulkers on detention list for September.
- OSG books $230m gain
Sale and charterback deal for seven tankers goes ahead despite IPO pricing below target.
- Hurricanes hit tanker estimates
Morgan Stanley slashes General Maritime and Teekay earning forecasts on longer term fears.
- Poor reception
EC raps knuckles of seven member countries for ship-waste offences as Court of Justice looms.
- Ferguson fields ro-ro order
Lifeline for Scottish shipbuilder as local owner Western Ferries hands it business.
- GO talks up share price
London-listed bulker player Global Oceanic Carriers attempts to reverse 30% drop in value since IPO.
- Crewman swept off tanker
Search called off for Greek man taken by wave off South Africa.
- Vinashin looks overseas
Vietnamese state shipbuilder granted permission to employ foreign CEO.
- EU approves CP Ships deal
Hapag Lloyd’s withdrawal from two liner conferences the cost of European Union’s blessing.
- Search ends for missing seaman
Filipino crewman feared dead after falling from NYK bulker off coast of Queensland.
- Katrina and Rita take their toll
Kirby sustains potential $3m hit in third quarter from hurricanes but counters with other gains.
- Workers could bid for SNCM
Still time for an alternative sell-off plan for struggling French ferry owner mired in strike action, chairman says.
- Navigators prices equity offering
US marine insurer could raise over $100m after equity offering of 3.3m shares priced at $34.50 each.
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| OCTOBER 13, 2005 |
- EC makes Hapag-Lloyd's TACA resignation condition of CP Ships buyout
- China Shipping's 3rd-quarter revenue up 23.2%
- U.S. indicts Indian chief engineer for illegal oily waste discharge
- MSC to start Asia/Indian subcontinent link
- "K" Line to start Black Sea feeder
- IATA greets reopening of U.S.-EU aviation talks
- Coal trade up nearly 10% on Great Lakes
- Marisol International to open first Asian offices
- U.S. continues TIFA talks with Malaysia
- Target Logistic Services to relocate headquarters
- USDA awards $1.1 million in research projects to combat invasive pests
- Panalpina dedicates Alabama automotive logistics facility
- Ryder gives new roles to Tegnelia, O'Meara
- Vancouver, Wash. port restarts United Harvest grain terminal
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| OCTOBER 13, 2005 |
- Consafe to order another rig
Göteborg-based Consafe Offshore continues to expand and has now signed a letter of intent with Chinese Yantai Raffles Shipyard ...
- Bluewater started trading in Oslo today
Marine underwriter Bluewater Insurance in Oslo had a successful NOK 78.4 million initial offering this week and the shares were ...
- Mosvold confirms USD 453 mill drillship order
Mosvold Drilling in Kristiansand has now confirmed the order for a USD 453 million drillship at Samsung Heavy Industries in ...
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| OCTOBER 13, 2005 |
- Los Angeles funds barges, cold ironing to reduce emissions
Port of LA supports bunker barge company's new engines as state government announces funding for cold ironing.
- DOE & API at a glance: This week's key US inventory figures
- BP consolidates Belgian lube plants
BP Belgium's lube plants in Ghent and Antwerp consolidated.
- Sri Lanka: $87 million facility operational in 2 years
Sri Lanka Ports Authority says proposed $87 million tank farm and bunkering facility will be operational in two years.
- Off-spec fuels resurface at Port Said
Fuel testing agency reports continued instances of unstable fuels with alarmingly high cat fines originating from Port Said.
- Rotterdam continues to firm
- Singapore: Residual fuel stocks at 13-month low
Singapore's onshore stocks of residual fuels plunged to a 13-month low; marine gas oil suppliers reported a drop in demand due to tight bunker fuels market.
- Armed escorts remain vital, Malaysian bunker firm says
Malaysian bunker supplier Ban Hoe Leong praised its private armed security personnel as 'capable and professional'.
- Rising sun fails to shine on bonded bunker market
Japanese refiners' strict control of allocations to the marine fuels sector is leading to a bonded bunker market that is continually starved of marine products.
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