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| SEPTEMBER 20, 2005 |
Shipping News
- Freight futures market matures with entry of clearing houses
FREIGHT futures on seaborne commodities is coming of age with growing trade volumes, according to industry executives who point to the entry of large clearing houses as an indication of the market potential.
- M'sian Muslim sailors allege bias after 9/11
MUSLIM Malaysian sailors are being denied jobs in the shipping sector over terrorism fears in the aftermath of the Sept 11, 2001, attacks against the United States, a report said yesterday.
- Ezra expects 8 new vessels to boost revenue next year
SINGAPORE's Ezra Holdings Ltd, whose boats tow oil rigs and help install them in the ocean, said it would add eight new vessels to its fleet in its financial year starting September 2005.
- US leases cruise ships to house Katrina victims
- Tanker rates may rise a 4th week
- Keppel Fels shows its mettle with early delivery
- Turkey gets 3.5b euro bid for Istanbul cruise port
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| SEPTEMBER 20, 2005 |
- Hong Kong throughput inches up in August
- Deutsche Post may buy up Exel for US$6.48b
- K+N opens Finnish logistics centre
- NWA common stock to cease trading on NASDAQ
- BA halts fuel surcharge hike
- "Business as usual," says Gulf Air chief
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| SEPTEMBER 20, 2005 |
- China’s container ports prepare for IPO spree fuelled by export boom
- Fock Siew Wah to replace Stephen Lee as PSA Chairman
- 3 shipping lines to start serving China-Mid East route
- AADA to raise bunker surcharge on Asia-Australia trade
- Evergreen takes its ‘greening’ process further
- Ocean freight rates across all segments soar
- DGS heeds S. O. S. of ships stalled at foreign ports
- Shipping industry grooms its youth
- 7 Indian firms keen on tie-up with Italian company to make safety syringes
- ABG Heavy Industries to set up CFSs at Kandla & Kolkata Ports
- NMPT chief sees need to market Major Ports
- MbPT planning to provide land in JV with auto majors
- CONCOR draws up 5-year, Rs 2,500-cr. capital expenditure programme
- Forex reserves up by $ 1,714 million to $ 1,45,555 million
- SPVs for infrastructure projects may be converted into NBFCs under RBI supervision
- Chidambaram to open high-profile forum in New York to draw global investors into infrastructure sector
- Move to introduce EDI operations at Mumbai, Delhi airports by mid-March 2006
- Duty drawback system being made more transparent, says Commerce Secretary
- Palm oil import duty reduced
- Waive FBT on sales promotion, brand use-Ficci
- 25 integrated textile parks may later be converted into SEZs
- Move to double share in global handicrafts trade to 4 pc
- Cotton textiles have a better 3-yr future—Fitch Ratings
- China projected to be 4th-largest exporter in 5 years
- All-India bank strike scheduled for Sept. 29
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| SEPTEMBER 19, 2005 |
- Hindustan to build handymax bulkers for Goodearth
- US "set to ask for more cargo details"
- Finnjet gets New Orleans role
- US farmers call for Jones act waiver
- CMB revises half year figures
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| SEPTEMBER 19, 2005 |
- Carnival reports record quarter
- Finnjet heads for Baton Rouge
- Trinity Yachts to buy Gulfport yard
- Washington State rethinks ferry building plan
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| SEPTEMBER 19, 2005 |
- Customs will phase-in new packaging material rules
- Crowley makes secret shipment of police vehicles for Virgin Islands
- Federal Maritime Commission welcomes Dye to second term
- Simulated maritime disaster set to test Puget Sound responders
- Jade Cargo International orders six Boeing freighters
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| SEPTEMBER 20, 2005 |
- Read the runes on Imarex says Carnegie
NORWEGIAN investment bank Carnegie has initiated coverage on derivatives exchange Imarex with a bullish assessment of its future prospects.
- Exel’s red letter day as Deutsche bids £3.7bn
DEUTSCHE Post has offered £3.7bn ($6.7bn) to acquire UK-based supply chain giant Exel, making Germany’s acquisitive post office the world’s largest logistics company.
- Single hulls face double trouble liability
TANKER liability limits under the US Oil Pollution Act of 1990 will nearly double for single-hull ships if a provision in the Coast Guard and Maritime Transportation Act of 2005 passed by the US House of Representatives last week is enacted into law.
- Lloyd’s says marine underwriters must deliver on profits
LLOYD’S Franchise performance director Rolf Tolle has warned marine underwriters they can no longer live on their past.
- IPOs market for shipping companies steams back into life
THE initial public offering market for shipping companies is rumbling back to life, as American Commercial Lines set a price of $19-$21 a share on a deal that aims to gross $180m at the mid-point including a $15m secondary component, writes Rajesh Joshi.
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| SEPTEMBER 19, 2005 |
- Carnival overcomes cost hits
CARNIVAL Corp posted yet another record quarter today, despite surging fuel costs and $45M in one-off charges
- Generalov supports Fesco share plan
RUSSIAN operator Far Eastern Shipping Co remains committed to a London Stock Exchange sale of state shares as a way of raising cash
- Irish Ferries makes survival offer
IRISH Ferries has launched a multi-million-euro voluntary severance package in a battle to stay competitive on the Ireland-UK routes
- Yeoman Bridge resumes voyage
THE bulker Yeoman Bridge, which was forced to delay its voyage because a number of crew members were hit by food poisoning, has resumed its passage
- No injuries in Fatima ferry fire
- APM Terminals secures Dunkirk
- Tallink to unveil ferry strategy
- Suspected smuggler dead after boat fire
- CMA CGM takes control of Sudcargos
- US farmers seek Jones Act waivers
- Boxship sinks after collision
- Ships warned to leave Key West
- China floats new oil enterprise
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| SEPTEMBER 19, 2005 |
- Hurricane warning threatens Fla. ports
The ports of Miami and Fort Lauderdale are preparing to close ahead of Tropical Storm Rita, expected to bring hurricane-force winds Tuesday.
- NOL volumes rose 10%
- Customs Update: Bond guidelines change again
- LA port trucker protest fizzles
- Shipping pioneer McMullen dies
- Deutsche Post to buy Exel for $6.7B
- N. Carolina waterways re-open
- Boxship damaged in collision
- Storm effect on rail volumes uncertain
- China welcomes California trade mission
- Mattingly to chair Georgia Foreign Trade Conference
- Chile joins carnet system
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| SEPTEMBER 19, 2005 |
- Trans-Sib losing its way, says terminal, after 31% transit-fall
The Trans-Siberian Railway (TSR) is losing the faith of shippers, and transit-volumes are slipping, according to the major transit gateway terminal, Vostochny International Container Services (VICS).
- Jurong growth prompts five year expansion plan
Singapore’s second container facility, Jurong Port, will invest S$300m (US$178.29m) over the next five years to nearly double its capacity, confirmed a port spokeswoman.
- PD Ports in suspense over ABP Hull plans
- Truckers hope for high turnout in surcharge rally
- MSC speeds up delivery of 9,200TEU giants
- Kalandan multimodal project talks approaching conclusion
- HMM starts weekly import-export blocktrains for Slovakia
- Ilyichevsk gets first $2m of new investment in race to overtake Odessa
- AAR: integrated railroads need discussion and co-operation immunities
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| SEPTEMBER 19, 2005 |
- Jones waiver dead
US will allow waiver of Jones Act for petroleum trade to expire as scheduled at midnight, cabotage group says.
- Seaspan sells more
Underwriters pick up over-allotment option of 276,500 shares, bringing newly public Vancouver liner owner $5.5m in net proceeds.
- Raging Rita
New storm bears down on US Gulf, spiking oil prices and forcing Chevron, Shell to evacuate drilling platforms.
- Restis revival
Golden Energy about to move forward with IPO after placing $200m flotation on the shelf in July's 'tired market.'
- Pressly signs for V.Ships
World’s biggest shipmanager poaches head of rival as compliance demands get tougher.
- Carnival hits new high
Third quarter profit is best ever for Micky Arison’s cruiseship giant.
- Petromin up for grabs
Romanian government is inviting bids for Constanta-based shipowner.
- ACL sets IPO at $19-21
US barge line heads for market with warning of no dividends, no market for shares and legal threat.
- MSC ship held for fifth time
Container giant’s shame as OSG and Docenave among 50 Paris MOU detainees last month.
- ICG issues crew ultimatum
Irish Sea ferry operator wants 543 crew to fall on swords to save money.
- RCCL in Istanbul move
Cruise line in consortium bidding to run and expand Istanbul terminal.
- Four for Alianca
Hamburg Sud’s Brazilian subsidiary spending big on 2,600-teu vessels.
- Aries bags Stena pair
Mons Bolin's US-listed shipping vehicle continues to expand fleet with panamax acquisitions.
- Ferry numbers up in Baltic
Tallink, Eckero, Viking carrying more passengers through Tallinn, but Silja’s numbers fall.
- Aker reaps retrofit
Aker Finnyards to renew fuel systems on four TT-Line ships.
- Petronet terminal damaged
Cargoes diverted after two tugs smash into Indian LNG facility.
- TUI rights issue goes through
Hapag Lloyd parent says 99.5% of its rights issue has been exercised raising close to $1.2bn.
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| SEPTEMBER 19, 2005 |
- Koch slams ISO on supply chain security standards
- Adrion succeeds Miles as World Shipping Council chairman
- Wallenius Wilhelmsen names pure car truck carrier
- Deutsche Post plans to buy Exel
- Polar Air Cargo crew go on strike
- Teamsters set up hiring hall for Miami's container haulers
- UP reshuffles management team
- CaroTrans start new service to Brazil, Argentina
- Boes elected FIATA president
- Blue Point acquires V&S Transportation to launch logistics investment
- NRS expands on both coasts
- Former GM executive to manage China affairs for USTR
- FKI Logistex appoints manufacturing president
- Port of New Orleans says customers returning
- Hong Kong's August box volumes up just 0.9%
- Grimaldi building Lagos terminal
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| SEPTEMBER 19, 2005 |
- TFDS wants out of Fjord Line
Troms Fylkes Dampskibsselskap (TFDS), the majority shareholder of Bergen based passenger/ferry operator Fjord Line with 50.3 per cent, plans ...
- New service from Køge to Sassnitz
Bornholmstrafikken has started a new route from Køge on Sjælland to Sassnitz on the Isle of Rügen in Germany. The ...
- Second Canadian newbuilding to Nordane
Nordane Shipping of Svendborg has taken delivery of the second ocean going tug from Canadian shipbuilders. The newbuilding is the ...
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| SEPTEMBER 19, 2005 |
- Prices firm as hurricane Rita approaches US Gulf
US prices pushing upwards today as a new hurricane threatens to disrupt markets and send crude higher.
- Bunker spill in Namibia
Fuel oil leaks into Walvis Bay harbour after ship collision.
- Carnival Q3 profits beat expectations as fuel costs soar
Strong demand and higher ticket prices offsetting an estimated $170 million extra in bunker expenses for 2005.
- Wilhelmsen: New ship offers 10% fuel reduction
Advanced hull and propeller design and yard patented stator fins are expected to deliver a 10% reduction in fuel consumption.
- ARA: Mixed reactions to plans for 21 days credit terms
Market participants agree that shorter credit terms make sense, but express doubts about general acceptance.
- Product substitution "on same commercial terms"
ExxonMobil assures buyers substitution of top selling cylinder oil for lower base number product will be on the same commercial terms.
- DNVPS reiterates MARPOL sulphur warning
Recent incidents of fuels testing above 4.5% sulphur prompts new warning about MARPOL compliance.
- Rotterdam plunges with crude
- OPEC signals will to raise output
OPEC prepared to raise oil output even though crude prices have dropped from record high of over $70 per barrel.
- Indian port welcomes oil spill prevention plan
The Indian coastguard of Paradip port has adopted an oil spill prevention plan following increased bunkering activities and traffic of oil tankers.
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