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| MAY 19, 2005 |
Shipping News
- Organised illegal activities on high seas increasing
ORGANISED criminal activity on the world's seas is on the increase, which requires even greater international cooperation and information sharing, the Commander of the United Kingdom Maritime Force said yesterday.
- ICTSI's Q1 profit up 66% to 275m pesos
EARNINGS from cargo handling in the year's first quarter are usually weak, but for a Philippine terminal operator, aggressive and year-round expansion locally and abroad have paid off.
- Hyundai to build 4 gas tankers for Qatar
HYUNDAI Heavy Industries won a US$385 million order to build four gas tankers for Qatar, holder of the world's third-largest gas reserves, which is boosting production of the fuel to meet global demand, a shipping official said.
- US port security needs 'mid-course correction'
Strait Talk
- A tale of 2 shipping lines
LAST week was a shipping industry milestone for two reasons: AP Moller-Maersk announced a deal to buy P&O Nedlloyd and P&O chairman Lord Sterling retired.
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| MAY 19, 2005 |
- HK container throughput rises 6 per cent in April
- Yellow Roadway hopes to be first US firm to offer trucking services in China
- PHA to spend US$750,000 on security upgrades
- TNT Logistics grows 900 per cent in Asia
- UPS buys Overnite
- Dell, APL Logistics team up to build logistics centre
- Sichuan Airlines to buy 8 planes from Airbus
- BA pre-tax profit soars
- Leo Transport awarded IATA licence in Thailand
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| MAY 19, 2005 |
- GE Shipping takes delivery of modern Handymax dry bulk carrier
- Tyre exports rise by 14 pc in March
- China to publish reference prices for Indian iron ore
- Exports spring by 17.2 pc in FY 2005-06’s 1st month
- Okha port sets new coal discharge record too
- VCT effects simultaneous, direct loading/unloading operations
- Shell to build Rs 3,000-cr. bulk cargo, box terminals at Hazira
- Railway Board aims at freight traffic target of 635 m tonnes in 2005-06
- National highway project work resumes
- Govt to unveil comprehensive policy framework for financial sector in September
- New crude import policy may give PSUs more leeway in clinching deals
- Corporation Bank raises $ 100 m to finance exports
- Schemes to lighten tax burden on exporters soon
- Finance Bill gets President’s assent
- SEZ goods exempted from 4 pc additional duty
- SEZ Act will enhance export-friendly environment, says Kamal Nath
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| MAY 18, 2005 |
- Houston prices return to mid-April levels
Prices softening this week to levels not seen in the market since April
- Damaged tanker still awaiting clearance to discharge cargo
Fate of 311,000 mt of fuel oil currently under negotiation between owners and port
- Dutch supplier organisation states support for Marpol VI
NOVE, the branch organisation for Dutch independent suppliers of oil and gas products, has come out in support of Marpol Annex VI and states that its members will fully comply with the regulation, with one reservation.
- DOE & API at a glance: This week's US inventory data
- SMP: Second SECA will be a bigger challenge
Increased demand for low sulphur fuels at the enforcement of second SECA likely to pose a bigger challenge, says Greg Tonks (SMP) who also objects to EU proposals for a 0.5% sulphur cap.
- Rotterdam market firm at Midday
- Lanka IOC aims to start bunker operations in September
Financial crunch means Lanka IOC has delayed commencing bunker operations in Sri Lanka, but the company is hoping for September start.
- Saudi Arabia able to increase output immediately
Saudi Arabia, the world's largest oil producer still has plenty of oil and is capable of increasing output immediately.
- Intertanko: New clauses to ensure bunkers meet new requirements
Intertanko has launched new clauses to assist tanker operators in complying with the new Marpol air pollution regulations that come into force tomorrow.
- BP shoulders blame for fatal Texas refinery blast
BP has accepted responsibility for a deadly blast in March at its Texas City refinery.
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| MAY 18, 2005 |
- Confetra elects Vavassori in place of Smeriglio
- Japanese firms benefit from buoyant markets
- TAP seeking a share in Varig
- Railion conducts test runs on Betuwe line
- Dachser presents good figures for 2004
- The Netherlands opens tonnage tax regime for foreign ship managers
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| MAY 18, 2005 |
- Westfal-Larsen calls for industry to promote balanced view of shipping
- Bloch Soerensen resigns from ELAA
- Emergency surcharge imposed on Monrovia cargo
- Water freight "working well"
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| MAY 18, 2005 |
- Oil spill cleanup fund running low
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| MAY 18, 2005 |
- Port of Seattle sets special summer moorage rates
- Crowley puts to work double hull tank barge
- Port of Seattle helps deliver national J/24 championships
- Port of Everett schedules public hearing for commission issue
- Port of Olympia holding Boatswap & Chowder Challenge
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| MAY 19, 2005 |
- Sørensen resigns from ELAA
KEN Sørensen has resigned as executive director of the European Liner Affairs Association to take up a job with a container shipping company.
- Samsung may turn to tankers to boost prices
NEWBUILDING berths earmarked for post-panamax containerships will be switched to tankers if box lines continue to resist the asking price of Samsung Heavy Industries.
- OSG looks overseas for IPO spin-off
OVERSEAS Shipholding Group is preparing to float part of its business through an initial public offering routed through a foreign-based enterprise not bound by the rigid disclosure code that governs US-based firms, say well-placed finance sources.
- Barroso to face MEPs on Latsis aid grant claim
EUROPEAN Commission president Jose Barroso will explain his relationship with Greek shipping magnate Spiro Latsis to the European Parliament in person, it was confirmed yesterday.
- Improvements remove Cyprus and Malta from Paris MoU flag blacklist
CYPRUS and Malta, which boast two of the European Union’s largest merchant fleets, have been officially dropped from the blacklist of flags maintained by the Paris Memorandum of Understanding on Port State Control, writes Nigel Lowry in Athens.
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| MAY 18, 2005 |
- Four injured in shipyard blast
TWO explosions occurred yesterday on a ro-ro under construction at Fincantieri Palermo yard in Italy, injuring at least four people
- New head for Polish Steamship Co
PAWEL Szynkaruk has been appointed as the general director of the state-owned Polish Steamship Co (PZM), which is the largest European dry bulk owner and operator
- Sovcomflot responds to reports
SOVCOMFLOT is reported to be locking horns with rival shipping company Novoship, but Fairplay has been told that merger talks are at the discretion of shareholders
- 'Snakehead' smuggler trial begins
A NOTORIOUS immigrant-smuggler is on trial in New York this week, while an alleged human-trafficker involved in 350 migrant deaths stands trial in Australia
- IMO's fire safety rules questioned
The IMO needs to re-examine its standards for preventing and controlling fires on board ships, says the Transportation Safety Board of Canada
- Mexico wants LNG slice
- Long Beach free time cut
- Canadian railway strike off
- Ingves steps up at Birka Line
- Stolt-Nielsen goes Dutch
- Industry sceptical on security fee proposal
- Finnish paper strike hits ships
- French warship cleared for scrap
- Seafarer update: final call
- Suspected stowaways found dead
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| MAY 18, 2005 |
- CN Rail strike averted
The company reached a tentative pact just before 1,750 locomotive engineers were scheduled to walk out.
- Sorensen resigns from ELAA
- LA, Long Beach likely to curb free time
- Customs issues among top logistics impediments, study finds
- DHL reins in U.S. ambitions
- Hong Kong caps value of currency
- Steel strengthens Lakes cargo
- Hamburg Süd christens ship
- CP Ships appoints CIO
- Singapore Air plans China cargo venture
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| MAY 18, 2005 |
- Beijing accuses the US and EU of double trading standards
Chinese Commerce Minister Bo Xilai has criticised the US and the EU for violating free trade by imposing restrictions on Chinese textile exports when the situation became disadvantageous to them.
- Ship shortage will ‘soon be apparent’ warn brokers
- Long Beach acts to beat peak season congestion
- Mid-stream operators suffer as South China competition intensifies
- South Californian ports split a 10.5% rise in the first trimester
- Portland container traffic drops 50%
- Strike averted at Canadian National Railway
- ‘Rottergate’ guarantees prompt drop in 2004 financial performance
- ELAA executive director Soerensen resigns
- Indian Government clear railfreight corridor project
- Transcontainer Muuga-Moscow blocktrain finishes trial
- Korean carriers to expand business in India
- China and Iceland investigate feasibility of FTA
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| MAY 18, 2005 |
- B+H confirms Oslo listing
US-based tanker and OBO operator will also raise $60m through European private placement.
- TOP takes heat
Investors want TOP Tankers management to stop silent treatment on status of $300m shares issue, Nomikos bulkers deal.
- Attica in $10m payout
Shareholders approve 40% increase in dividend for Panagopoulos' group as ship sales fuel higher profits.
- Plain sailing for HSH Nordbank
Profits for world’s largest bank leap 20% on back of strong markets and stream of newbuilds.
- Fact: ITF ships are safer
Fewer accidents and breakdowns with union agreements, federation claims.
- MMM linked to Global tankers
Malaysian tanker owner eyeing products carrier fleet of listed rival.
- Ukraine suspends yard shares
Chernomorsky stock off the market in row over shareholder bias.
- North Korean ferry beats P&I ban
Cover from South of England P&I enables Mangyongbong-92 to enter Niigata.
- Marsh lifts Braemar stake again
UK broker believes stock still undervalued despite this week's record profits.
- Berlian in bond issue
Indonesian owner to issue $50m-worth of debt to fund ship purchases.
- Naikai notches bigger profit
Japanese shipbuilder’s annual result climbs as it merges with Nichizo.
- Crewman survives 14-hour ordeal
Australian rescued off Queensland coast after falling from Teekay tanker.
- Jutha makes strong start
Thai shipowner has seen first quarter net profits jump by nearly 30% compared to a year ago.
- Lifer to head up Polsteam
Government promotes a different Pawel to top position.
- A&P scores Norwegian hat trick
UK repair group seals first Bergesen deal plus contracts from Stavanger and Bergen owners.
- Murmansk making money
Russian tanker owner captures 80% of north-eastern passage cargo volumes in 2004.
- India tries again with SCI
Long-running sell-off saga back on track as government prepares sale of 15% of owner.
- Profits grow at Thoresen
Strengthening freight market helps Thai bulker player to big jump in second quarter results.
- Trafalgar goes into battle
New London-based sale and purchase brokerage formed by five ex-SSY brokers opens its doors.
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| MAY 18, 2005 |
- IMO implements rules to cut air pollution from ships
- Coast Guard says oil spill liability trust will be depleted by ‘09
- NOL sells stake in Lorenzo Shipping
- Soerensen resigns from lobby group ELAA
- Asian container line eyes Jacksonville
- Asia/Africa transit times added to ComPairData
- Passenger notification in latest Markey bill on cargo inspections
- Menzies Aviation signs ramp handler contract at D.R. airport
- Senate passes highway bill, but Bush veto looms
- Regulatory approach creeping into C-TPAT, Koch says
- Apparel importers condemn CITA’s decision to impose safeguards
- Mineta seeks aviation capacity, rail safety improvements
- U.S. gives $1 million to help WTO's poorest country members
- Port of Long Beach cuts container free time by one day
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| MAY 18, 2005 |
- Profit up 252 per cent for Royal P&O Nedlloyd
Royal P&O Nedlloyd is doing really well at the moment. Their result for the first quarter of 2005 is ...
- Frontline sells three suezmax’es
Frontline has sold three single-hull suezmax tankers for around USD 92 million, according to Oslo brokers. The deal is ...
- UK Club in the red
The biggest P&I club, the UK Club has announced a loss of USD 13 million for last year thanks ...
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