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| OCTOBER 20, 2005 |
Shipping News
- Electronic charts for all key sea lanes in a year: official
ALL the world's major sea lanes and ports will be covered by electronic charts within one year, said the head of the UK Hydrographic Office while launching the inclusion of Singapore's electronic chart set in its industry-leading chart offering.
- Hutchison to build its 1st China bulk cargo terminal
HUTCHISON Whampoa Ltd, the world's largest port operator, will help build a 2.2 billion yuan terminal in China to handle iron ore, its first bulk cargo facility, to meet the country's rising commodities demand.
- Fishermen survive 14 hours in Malacca Strait
TWO Indonesian fishermen survived for fourteen hours in the Strait of Malacca by clinging to pieces of their boat after it collided with a container ship, reports said yesterday.
- Cosco Pacific's 9-month container traffic rises
- Offer to take over CP Ships successful: TUI
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| OCTOBER 20, 2005 |
- GPA, SIPG strike deal to promote China-US trade
- CMA CGM looking to buy terminal operator
- OOCL Logistics to provide services for Hollywood
- Maersk Sealand to raise BAF
- Olympic Container Terminal opens in Tacoma
- Business at Port of Portland sinks
- AADA increases bunker surcharge
- Continental back in black in Q3
- Boeing selects Saab Aerostructures for 787 cargo door package
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| OCTOBER 20, 2005 |
- TUI AG moves closer to take-over of CP Ships
- Dubai-India ferry service extended to Cochin & Tuticorin
- IRTS official appointed to steer Paradip Port
- ChPT invites global consultants
- Balmer Lawrie’s CFS-Manali wins coveted ISO 9001:2000 certification
- Bengal Labour Minister asks KoPT to explore feasibility of permanent parking place for trucks
- Maharashtra transporters agitated over multiple taxation policy
- New CFS opened near Chennai
- Cashew exports exceed 5-month target
- Handicrafts fair fetches business worth Rs 900 cr.
- VAT on supplies to SEZs, EOUs may continue
- Kamal Nath asks exporters to overshoot 2005-06 target
- Textile sector bucks Sept. trend by posting 14.74 pc export growth
- Amit Ruparelia, Preeti Sheth re-elected to AIEC helm
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| OCTOBER 19, 2005 |
- New airport managers in the UK
- MSC starts Falcon Service
- Unitpool inks new contract with Virgin Atlantic
- Greece to lease its motorways
- Stonepath Logistics expands projects division
- Corrigendum: Cotif will not come into force yet
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| OCTOBER 19, 2005 |
- IMB calls for naval action against Somali pirates
- TUI gets CP
- Aussie customs shambles
- FANA hires Norton Lilly
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| OCTOBER 19, 2005 |
- Rowan sells its sole semi
- Oberstar comments on Jones Act waivers
- $120 million deepwater job for Aker Kvaerner
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| OCTOBER 19, 2005 |
- Opening of Olympic Container Terminal celebrated by Port of Tacoma, Yang Ming
- Todd Busch named vice president of Crowley's new salvage company
- Union Pacific building siding for Portland/Gresham connection
- Women's Shipping Club taps Janice Kowell as top boss
- Coast Guard responds to spill from sunken tug
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| OCTOBER 20, 2005 |
- Macquarie in the frame as PD Ports confirms bid talk
SHARES in PD Ports raced ahead yesterday after the UK terminal operator, which owns Teesport, disclosed it had received a takeover approach.
- DrKW upgrades ABP shares to ‘buy’ status
Shares in Associated British Ports have been upgraded from a "hold" to a "buy" by investment bank Dresdner Kleinwort Wasserstein, which believes the group is moving into a period of sharply higher profit growth, writes Tony Gray .
- ...as bank with the Wight stuff pays a packet to gets its Man
MACQUARIE Bank has bought Isle of Man Steam Packet Company, Britain’s oldest passenger shipping business, for £225m ($396m).
- P&I clubs look high and low on renewals
TWO giant mutuals have opened the batting for the 2006 shipowners’ P&I season with quite different offerings.
- Tui shareholders back CP Ships merger with Hapag-Lloyd
TUI’s takeover bid for CP Ships has met the necessary acceptances from shareholders with 84m shares, representing 89.1% of the total, offered for sale, the German group said yesterday. The merger of CP Ships with its subsidiary Hapag-Lloyd should now be concluded by the end of this year.
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| OCTOBER 19, 2005 |
- Florida battens down for Wilma
NON-residents of the Florida keys are being ordered to leave the area in advance of Hurricane Wilma, and further evacuations are expected as the category 5 storm draws nearer
- Stena to reduce Irish Sea trips
STENA Line is to cut the number of round trips operated by its fast ferry Stena Express on the Irish Sea southern corridor next year as part of its 'strong focus on cost control'
- Strong 3Q for Varun Shipping
BETTER freight rates in the LPG sector have boosted third-quarter net profit at Mumbai, India-based Varun Shipping
- Migrant Watch: US/Caribbean
US COAST Guards are continuing a search for a missing craft carrying up to 67 Dominican migrants, while another CG unit rescued a group of 129 last week
- Rosneft lifts veil on oil shipping
RUSSIAN state-owned oil producer Rosneft has offered some information about oil export arrangements but, intriguingly, has refused to disclose how much oil it exports by sea
- Scandlines' future is clarified
GERMANY and Denmark have decided to privatise Scandlines, their jointly-owned Baltic Sea ferry operator, ending months of speculation over the future of the company
- Macquarie rumoured in PD Ports bid
- Canadian pilot tariff hike rejected
- Sea Malta, Grimaldi accused
- Court rules on damage claim period
- Call for Jones Act waiver rethink
- Bulker rates look strong for 4Q
- Singapore, UK strengthen charts tie-up
- Indians haggle over abandoned boxes
- Patrick hits back in Toll takeover
- Single Caribbean market welcomed
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| OCTOBER 19, 2005 |
- TUI completes offer for CP Ships
Parent of Hapag-Lloyd said almost 90% of CP Ships shareholders have accepted its $2.3 billion takeover offer.
- Bowers, Daggett to testify in ILA case
- Chertoff wants FEMA logistics overhaul
- Ten-year deal for Virginia ports, China Shipping
- More cuts in EU farm aid sought
- NOL appoints senior executives
- Takeover offer for UK ports operator
- DHL: India leading Asia gains
- PPG liable for vessel loss
- Great Lakes ore volume off
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| OCTOBER 19, 2005 |
- Industry indicators point to sharp Q4 decline
All indications show that the Pacific market, and therefore global trade, is going off the boil at a much faster rate than had been previously been expected.
- CP Ships takeover to be total by end of year
TUI AG have announced success in their takeover bid for CP Ships, with over 66.66% of shares tendered, and with plans put in place to take over completely by end-2005.
- Charter market seeks demand on high seas and the short-seas
- Hurricane Wilma fulfilling Category 5 potential
- Korean truckers threaten strike over claim for fuel subsidies
- Maersk to expand joint Australia service as PONL vessels come online
- Three carriers merge Red Sea services
- Shanghai Hai Hua Shipping launches two China/Japan services
- SNCF gives up CNC majority, as Naviland Cargo created
- PD Ports reveals market approach
- Intermodal drives Canadian National Railway to record Q3 profit
- Cochin Port staff protest lack of representation on Port Trust board
- Pyeongtaek container throughput increases
- Meat logistics centre to beef up NW Russian distribution quality
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| OCTOBER 19, 2005 |
- Isle of Man turns over
Montagu Private Equity has made a bundle on Isle of Man Steam Packet Co two years after buying it.
- Stolt doubles Stolt stake
Nasdaq and Oslo-listed Stolt-Nielsen has come back to the trough for an even larger draught of own shares.
- LNG ships win Korea protection
Oman gas carriers being built at Samsung first to get export credit insurance.
- RCCL wins seven thumbs up
A poll of cruise analysts is predicting a $342m bottom line for Royal Caribbean Cruise Lines (RCCL) in the third quarter.
- Shareholders back TUI deal
More than two thirds of CP Ships investors have plumped for Hapag-Lloyd parent’s takeover bid, paving way for inevitable 100% ownership.
- Carnival hikes dividend again
US cruise giant raises payout by 25% after record quarter.
- Hutchison bulks up
Port operator signs China deal to build first ever dry bulk terminal.
- Imabari to keep it in family
Toshiyuki Higaki likely to run Japanese yard temporarily, after death of his younger brother Eiji.
- IFRS boost for Braemar
2004 profits would have been up nealy 15% if new accounting rules had been applied.
- Mercator dampens speculation
Indian tanker owner plays down talk that it has lined up a foreign takeover target.
- Varun gets bigger
Expanding tanker and LPG owner benefits from higher gas rates in first half to 30 September.
- Anek sells Aptera
Thirty-three year old ferry reported gone to Far East interests for $6.7m.
- Samsung keeps sliding
Shares in shipbuilder fall for a third consecutive day over TradeWinds' LNG carrier leak scoop.
- Scomi aims for Rig Tenders
Malaysian group wants to take its holding in Indonesian offshore owner to 100%.
- Navigators raises $124m
US marine insurer’s equity offering goes with out a hitch with investors snapping up 3.8m new shares.
- Q-Ship on the up
Nine-month profits grow at Qatar Shipping as markets pick up.
- Torgelow location unknown
Kenyan owner has lost contact with cargoship captured by pirates off Somalia.
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| OCTOBER 19, 2005 |
- CP Ships' shareholders agree to TUI offer
- Rep. Oberstar recommends Jones Act waivers on case-by-case basis
- Appeals court reverses ‘Carla’ decision
- FESCO names Norton Lilly North American sub-agent
- Crowley names Busch VP of Titan
- Continental posts second consecutive quarterly profit
- Delta plans to be largest transatlantic airline
- Aircraft lessor orders 747s for cargo
- CN posts record third quarter net income
- St. Lawrence Seaway officials meet with IMO on ballast management
- Australian Customs web system experiencing problems
- FMC reviews 25 OTI license applications
- N.Y./N.J. Forwarders and Brokers name executive director
- Bush signs DHS spending bill
- Hong Kong, China agree to expand tariff-free rules
- NOL appoints Lutt APL Logistics president
- U.S. improves trade relations with Norway, Iceland and Liechtenstein
- Link named GIPSA administrator
- Hong Kong's throughput up 4% in September
- North Carolina ports order new terminal system
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| OCTOBER 19, 2005 |
- Smyril Line/Fjord Line deal ready next week
A deal, whereby Faroe Isle operator Smyril Line buys a majority stake in Fjord Line, should be concluded next week ...
- Svitzer tugs back from Svalbard
Two tugs from SvitzerWijsmuller is on their way back to Scandinavia after the season on Svalbard is over a couple ...
- Reefer spot rates improving
Spot rates for moderne reefers in September improved to 51.5 cent per cubic feet against an average of 32 cents ...
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| OCTOBER 19, 2005 |
- DOE & API at a glance: Latest US inventory figures
US oil inventory and refining statistics show signs of recovery after hurricane damage.
- Europe to Asia arbitrage opens on supply imbalance
Flurry of Russian fuel oil said to overwhelm Rotterdam, but could benefit bunker-starved Asian market.
- MMM's Iraqi bunker venture on hold
Iraq's uncertain political situation cited as exclusive bunker supply deal is delayed.
- Bids move closer to offers in Rotterdam barge market
- Hong Kong: 'Totally no oil,' bunker trader says
Trader says he can currently only offer bunkers to customers in 'desperate situation'.
- Oil drops as Wilma steers away from refineries
Oil prices in New York fell more than a dollar on Tuesday as hurricane Wilma was expected to steer away from US oil rigs and refineries.
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