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| JUNE 17, 2005 |
Shipping News
- SSCL's $49m sale boosts cash pile
THE 'shrewd sale' of two more of its multi-purpose bulk carriers for some $49 million boosts Singapore Shipping Corp Ltd's cash hoard further as it seeks to reposition itself into a car carrier fleet with steady earnings.
- Peak-season jams expected to ease at US ports this year
THE California ports of Los Angeles and Long Beach, adjacent harbours that form the busiest shipping point in the US, this year will probably reduce the delays that last year left cargo sitting on ships as many as 10 days.
- Dramatic pirate attack an inside job?
MALAYSIAN police have arrested two crewmen from a tanker which was hijacked by pirates earlier this week, saying they believed it was an inside job, according to reports yesterday.
- Bergshav group chief rejects Frontline bid
Admiralty Casebook
- Damages for tripping on board set aside
AN AUSTRALIAN appeals court has set aside a judgment in which a plaintiff was awarded almost A$300,000 after she tripped on a coaming at an entrance door of a cruise vessel and injured herself.
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| JUNE 17, 2005 |
- New EMA service to begin in late summer
- HK box volume increases slightly in May
- BAX keeps eyes fixed on PRD
- Henan to stage 1st international logistics exhibition
- U-Freight sets up special China team in HK
- PSA HNN boosts Antwerp box capacity
- Joint effort resolves truck-parking problem at Oakland
- ALA offers logistics courses online
- SIA bid to fly Pacific route delayed by Aussie government
- Kingfisher signs up for new Airbus planes
- Continental starts new Beijing service from the Big Apple
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| JUNE 17, 2005 |
- Stimulating start to 2-day maritime event - Provide inputs for future policy & direction, says D. T. Joseph
- Leading shipping cos’ profits swell under tonnage tax regime
- SCI plans to take JV route with Iran firms to import LNG, petrochem
- GE Shipping adds vessel to fleet
- Coir exports post 20 pc growth
- Textile exports to US up by 26 pc in April
- Bright prospects for tea exports to WANA region seen
- Anti-dumping duty on caustic soda from European Union, Indonesia being reviewed
- Lighterage operations may continue at Sandheads till March
- PwC study underscores Tuticorin Port’s potential as international transhipment hub
- Financial closure of sethusamudram project slated for October this year - UTI Bank to handle finances
- Rlys rub it into salt producers’ wounds
- Rakesh Mehrotra assumes charge as CONCOR MD
- Pawar inaugurates electronic networking of APMC markets in Maharashtra
- Capexil seeks Rs 5,000-cr. technology upgradation fund - Urges relook at FBT, service tax
- Seminar on ‘Setting up business in London’ at IMC today
- Board of Trade meeting today
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| JUNE 16, 2005 |
- Panalpina changes management structure
- Sea Malta to be sold to Grimaldi Naples
- Saudi Arabian Airlines: new cargo service to China
- Rail4chem launches Rotterdam–Schkopau container shuttle for UBC
- Bibby Distribution acquires Hammond Logistics
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| JUNE 16, 2005 |
- Fredriksen set to buy 60% of Bergshav
- Euronav issues US$11.2m in new shares in Tanklog deal
- Pirate gang captured
- ICTSI seals Madagascar port deal
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| JUNE 16, 2005 |
- SCA and OSHA renew alliance
- Tanker owners welcome new IACS common rules
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| JUNE 16, 2005 |
- District judge rules in favor of Columbia River Channel Project
- PRIDE OF AMERICA joining NCL America fleet
- Grants funds help upgrade Shilshole Bay Marina facilities
- "K" Line vessels now calling new Husky facility in Tacoma
- Railroad police nab crooks breaking into cargo container
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| JUNE 17, 2005 |
- ICS urges stand against EU power grab
EUROPEAN shipowner associations must urgently lobby governments to prevent the European Union replacing national governments at the International Maritime Organization, the International Chamber of Shipping has urged, writes David Osler.
- Daewoo shipbuilding arm up for sale as state recoups debts
Daewoo Shipbuilding and Marine Engineering, the world’s second largest shipbuilder, is to be put up for sale.
- Speculation mounts on possible buyers
The leading domestic contender to buy the company would likely be the highly acquisitive STX Corp, led by chairman Kang Duk-Soo, writes Sam Chambers in Hong Kong .
- Bergshaven mulls over Frontline approach
Atle Bergshaven is biding his time before making a decision on whether to exercise pre-emption rights on shares in Bergshav Shipholding that are being sold to John Fredriksen’s Frontline, writes Tony Gray.
- Buyers line up to bid for Seawheel
EUROPEAN shortsea operator Seawheel, which has made little secret of its support for consolidation, is the latest subject of takeover speculation with a number of buyers thought to be looking at the company.
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| JUNE 16, 2005 |
- China Shipping mulls bulk spin-off
CHINA Shipping has confirmed that it is considering an internal restructure that would hive off bulk operations into a listed entity
- House committee to probe VLCC sale
INDONESIA’s House of Representatives has formed a special committee to look in to the controversial sale of two VLCC newbuildings by state-owned oil and gas giant Pertamina to Frontline
- Carnival Corp 2Q earnings up 23%
CARNIVAL Corp's second quarter earnings are 23% higher than last year, with much of the growth credited to a 5.3% increase in capacity
- Planning process causes congestion
THE planning process for 12 North European box terminal developments is costing an estimated euro540M ($650M)
- Sea Malta sale moves ahead
THE government of Malta has taken a decisive move towards the sale of its 57% stake in Sea Malta to Grimaldi Group subsidiary Atlantica di Navigazione
- Third new ro-ro service for WWL
- Strong interest in Maasvlakte 2
- Two seafarers lost off Sri Lanka
- IPO surge questioned
- Breaker aid 'may not be enough'
- Oil majors favour quality
- WWL strengthens logistics team
- Frontline targets Bergshav tankers
- ICTSI moves into Madagascar
- Crew detained over tanker hijack
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| JUNE 16, 2005 |
- BNSF says it's ready for peak season
Railroad expects fleet, system upgrades will help it handle peak container volumes that will move through West Coast ports
- Rotterdam eyes mega-hub bids
- EU shippers: Let liners compete
- Rotterdam facing rail strike
- Truck capacity crunch looming
- Report: Cosco IPO oversold
- Report: BAX Global for sale
- Maersk buys stake in P&O
- EU warns on China spats
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| JUNE 16, 2005 |
- Textiles saved, shoes in danger
Following last week’s settlement by China and the European Commission (EC) of the textile trade disputes, Chinese safety shoes exports have stepped into a new round of uncertainties.
- Judge opens way for Columbia River dredge
A federal judge in Seattle threw out an environmental lawsuit yesterday aimed at blocking deepening of the Columbia River shipping channel.
- Maasvlakte II attracts 15 potential bidders for concessions
- Textile settlement not the end of the story, say Trade Committee MEPs
- MSC find bouquets and brickbats at Home
- JV formed for Yangshan Phase I
- HK Port grew 1.8% in May
- Pyeongtaek to open first dedicated container terminal
- ICTSI signs concession at Toamasina
- ‘Viking’ shows the way, exceeding two-year throughput in Q1 2005
- Port Klang logistics firms impose additional charges for I/E papers
- APMM captures 8.2% share-block in P&O Nedlloyd offer period
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| JUNE 16, 2005 |
- Peter's revenge?
$350m IPO Genco fires Citigroup from underwriter role in retaliation for analyst's remarks about principal Peter Georgiopoulos, sources indicate.
- Bergesen to list gas ops?
Company expected to unveil new public vehicle to hold all lng and lpg activities.
- East does not meet West
UK broker tells forum western broking practices still at odds with Chinese approach.
- Here come 20 more!
Shipping has more than 20 companies in IPO pipeline, or 30% of coming offerings for all industries combined, banker says.
- Segura calls for Namura sackings
Investor says shipyard needs new management team after forgetting needs of shareholders.
- FFAs set to dominate
Virtual trading will overtake physical activity from 2006 onwards, Andy Lucey warns Greek forum.
- SNCM snookered
European court annuls award of state aid to French ferry owner because of "error."
- Shell books ship’s writers
Oil major deploys 50 administration officers on tankers to stem avalanche of paperwork.
- Gulf Navigation orders
Dubai-based company breaks silence with $220m deal for four chemical tankers.
- Carnival cruises to record
US cruiseship giant posts best-ever second quarter profit and raises earnings guidance for full year.
- Samskip to swallow Seawheel
Icelandic line expected to continue buying spree with purchase of UK shortsea operator.
- Fidelity sells Nedlloyd stake
Maersk snaps up US investor's 8% holding ahead of public offer.
- Prisco adds aframaxes
Russian owner follows April order at Hyundai Heavy with two more 104,000-dwt tankers at same yard.
- Crewman foils pirates
Nepline tanker man steals attackers' speedboat and alerts authorities off Malaysia.
- Interocean builds managed fleet
New Jersey ship manager to crew multipurpose GCL ship.
- Viking wins ITF injunction
Finnish ferry line wins long legal battle against unions over reflagging.
- Two die in lifeboat drill
Probe begins into how Indian crew lost their lives on Star Reefers ship in Portugal.
- Daewoo to sell up?
Korean shipbuilding giant will probably be sold in multi-million dollar deal, according to its president.
- Slain master "unlawfully" killed
Assailant used a knife, a steam iron and a stool to murder captain of OSG aframax in February.
- Mittal offloads Lakers
Lakshmi's steel empire re-jigs ownership of former ISG ships to meet with Jones Act approval.
- Shell sticks with Sinwa
Singapore provisions firm renews exclusive deal to supply UK oil giant’s ships in Lion Republic.
- Iraqi pirates attack another VLCC
Mercator’s 280,654-dwt Premputli (built 1993) is second VLCC to be targeted in less than a fortnight.
- Clipper buys SSC boxships
Singapore Shipping Corp inks deal to sell stakes in two ships to Bahamas-registered Clipper Group.
- CSG eyes bulker IPO
Chinese shipowner considers combining all bulkers with those in CSDC ahead of potential spin-off.
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| JUNE 16, 2005 |
- New accounting standards raise P&O's liabilities
- Hapag-Lloyd group names Kranich head of finance
- CP Ships carriers switch China calls on transpacific loop
- Bill targets giant Airbus plane for missile defense
- DC-3 crash involved small charter operation
- Alaska Airlines orders 35 Boeing 737-800 airplanes
- Swiss WorldCargo expands management team
- EU official asks industry help to push intermodal
- Yellow taps Zimmerman to head USF Holland
- U-Freight establishes China team
- FMC reviews OTI license application
- Allgeier goes to Geneva to represent U.S. at WTO
- U.S., Canadian customs leaders compare notes
- USCIB's Goldberg to serve on ILO governing body
- Senate subcommittee votes funds for deepening Columbia River
- EU port liberalization could be watered down
- 15 bidders for new Maasvlakte Rotterdam box terminals
- Virginia Inland Port uses grant money to install CCTV
- ICTSI signs Madagascar port concession
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| JUNE 16, 2005 |
- Svitzer sells bulk-barge operation with three tugs
Em. Z. Svitzer (SvitzerWijsmuller) has sold their entire bulk-barge operation to a British company for take over at the ...
- Keel-laying of Stena ro-pax no 2 at Baltiysky
The hull for a second ro-pax vessel ordered by Fosen Mek Verksteder has been keel-laid at Baltiysky Zavod ...
- NCL is sued by passengers
Star Cruises owned Norwegian Cruise Line (NCL) is sued by 24 passengers for USD 100 million because the they say ...
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| JUNE 16, 2005 |
- Bunker cost hike fails to prevent record Carnival profits
US cruise ship giant Carnival Corporation announces record net quarterly income of $409 million - despite a 23% surge in bunker fuel costs.
- 2,500 mt barge operational in Libya
Alshic Bunkers has announced that the 2,500 metric tonne capacity barge Yukan is now operational for deliveries in the Gulf of Sirte, Libya.
- Total mulls refinery deal to enter India's oil retail sector
Total is hoping to enter a refining joint venture in India's rapidly growing energy market, with an eye to gain access to the country's retail market.
- Titan/Glencore may boost volumes after ending fuel oil deal
Titan will take over full use of its Malaysian floating bunker storage facility next month, currently mainly used by Glencore, as both companies look to boost their bunkering and fuel oil trading volumes in the region.
- Singapore fuel oil stocks at three-month peak, bunker sales soft
Singapore traders report soft spot bunker demand and forecast below average sales of gas oil this month.
- South Korea: Weak demand keeps prices little changed
Weak demand seen in Korean ports this month has kept bunker fuel prices largely steady, traders said, also noting uncompetitive levels compared to Tokyo.
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