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| OCTOBER 21, 2005 |
Shipping News
- Tackle kidnapping in Malacca Strait now: security executive
THE rising trend of kidnap for ransom in the Malacca Strait must be stamped out urgently, before the problem becomes endemic like in South and Central America, says a Singapore-based security executive.
- Armed decoy tugs mooted to deter pirates
A Singapore-based tug and barge operator has suggested using decoy tugs manned by the littoral states' armed forces to help curb piracy in the Malacca Strait, which he warned may rise after a lull through much of this year.
- World dry-bulk fleet set for record growth
THE world's fleet of ships carrying commodities such as coal and iron ore is headed for a record expansion this year as new vessels are delivered from yards, according to shipbroker Simpson, Spence & Young.
- Global trade boosts Orient Overseas' Q3 sales
Admiralty Casebook
- Bunker supplier's action fails due to Greek law provisions
A US appeals court has thrown out a bunker supplier's action for unpaid fuel because Greek law does not recognise in rem action against a vessel to enforce maritime liens for the provision of necessaries such as fuel oils and bunkers.
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| OCTOBER 21, 2005 |
- MSC revamps East Asia service
- US wishes to resolve textile row with China: Portman
- TUI offer for CP Ships successful
- Kuehne & Nagel to buy ACR Logistics
- PSA throughput up 8.7pc in Singapore
- Ningbo's new logistics park starts operations
- China attempts to standardise logistics industry
- Senior appointments made at NOL
- Xiamen Airlines to become second Xiamen-Hong Kong route carrier
- China United Airlines to fly again
- Delta adds new transatlantic routes to schedule
- US Airways sells debt worth US$777 million
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| OCTOBER 21, 2005 |
- Global cruise liners charting course for Indian waters
- DCI scouts for dredging projects abroad too
- Varun Shipping posts Rs 43 cr. net profit in Q2
- CIWTC resumes salt shipments to Bangladesh
- Salvo of tax bullets compels shipping cos to flag out vessels to tax-free regimes
- P&I Club to raise premium to 12.5 pc in 2006
- Search continuing for tug, crew—DGS
- CP Ships’ shareholders okay TUI takeover
- CONCOR sets up full-fledged ICD at Mandideep, Bhopal
- More rail, road linkages to Kolkata Port seen essential
- Railways hopes to earn more in 2005-06—Minister
- IMC seeks views for foreign trade policy review
- Gem & jewellery exports cross 8-bn mark in H1
- PHDCCI urges RBI to fix maximum ceiling on export interest rate
- Contract signed to export 5 lakh bales of cotton
- ...earnings grow by 16 pc in H1
- GAC India opens new facility near Sahar Air Cargo Complex
- GIFT to begin Alternative Disputes Resolution course from October 22
- Kamal Morarka re-elected president of MVIRDC World Trade Centre
- Praful Patel to speak at IMC today
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| OCTOBER 20, 2005 |
- DHL Danzas Air & Ocean: new vice-president marketing & sales
- "K" Line establishes a New Black Sea Service
- Singapore Airlines Cargo awarded Cargo 2000 accreditation
- ICA and Adria Kombi to join networks
- Bofill & Arnan with Wim Bosman and Green Tunisie
- Kuehne + Nagel receive German logistics award 2005
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| OCTOBER 20, 2005 |
- Macquarie Bank buys IoM ferry company, eyes PD Ports
- Seaway looks for German expertise
- More cash for Colon
- IMO-Interferry safety project gets going
- Farstad’s US$11.5m charter deal
- Schat Harding starts KISS lifeboat production in China
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| OCTOBER 20, 2005 |
- MAN B&W power for new Chinese training ship
- Sea Containers suspends dividends
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| OCTOBER 20, 2005 |
- Port of Vancouver, BC makes list of top employers
- General Maritime selling 10 single-hull tankers
- Federal Railroad Administration sets emergency track switch deadline
- K Line signs contract to time charter new VLCC
- Guggenheim Aviation Partners orders Boeing converted freighters
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| OCTOBER 21, 2005 |
- IACS and Greeks go head-to-head on rules
BLOODLETTING appeared to be avoided on Thursday during eight hours of talks in which Greek shipowners and more than a dozen representatives of classification societies aired their differences on proposed common structural rules for tankers and bulkers.
- Branson signals cruise venture
SIR Richard Branson plans to "do to cruising what he has done to the airline business". The British entrepreneur is to unveil results of talks with Miami executives about "alliances" with US cruise entities in three to four months.
- Reliance plans to spend $1bn in 25 ship spree
Mukesh Ambani-controlled Reliance Industries is to spend Rs50bn ($1.11bn) to acquire 25 ships, a combination of chemical tankers, crude oil carriers, gas carriers and product tankers, writes Shirish Nadkarni in Mumbai .
- Teekay Corp to decamp Canadian ship teams
Vancouver-based Teekay Shipping Corp is making plans to relocate three of its ship teams, presently based in its head office, to Singapore, Houston and Glasgow, writes Michael Grey .
- Talisman poised to take over North Sea explorer Paladin
IN WHAT is set to be the latest of a series of takeovers of independent oil and gas companies, Talisman Energy has agreed terms of a recommended cash offer for all of British oil and gas producer Paladin Resources’ share capital.
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| OCTOBER 20, 2005 |
- Wilma closes Yucatan cruise ports
MAJOR cruise ports at Cozumel and Cancun on Mexico’s Yucatan Peninsula are shut today as Hurricane Wilma bears down on the region with at least 13 deaths already in its wake
- Shipper negligence blamed for blaze
US-based shipper PPG Industries has been found liable for the fire that gutted the 1,500 TEU container ship DG Harmong in November 1998
- Cristobal expansion underway
PANAMA Ports Co, a subsidiary of Hutchison Port Holdings, has started a $200M expansion of the Atlantic port of Cristobal
- Shipping windfall for World Cup 2007
THE World Cup cricket tournament in March 2007 is already having significant shipping impact in the Caribbean and trade implications will spread
- Caribbean-wide cruise policy sought
GOVERNMENT ministers speaking at this week’s Caribbean Shipping Association conference in Barbados called for a region-wide policy on cruise shipping
- LR posts £20M profit in tough year
LLOYD’S Register has posted an operating profit for the six months to 30 June of £20.1M ($35.5M) with group income up just 1.4% at £371.8M
- Corsica Ferries wants compensation
- Alert issued on Singapore bunkers
- LUKoil raises production level
- Wilma update
- Transpetro cost 'could hit $5Bn'
- Gamble pays out as tugs sink
- US court reverses MSC Carla ruling
- Superfast cuts Scottish service
- Macquarie buys IoM Steam Packet
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| OCTOBER 20, 2005 |
- S. Fla. ports prepare for Wilma's winds
As new hurricane threatens Gulf region, Coast Guard orders South Florida ports and terminals to prepare for gale-force winds.
- U.S., Canada sign for CSI
- UPS profit higher, maintains positive outlook
- Port trucker pay hurt most by marine terminal delays: Study
- FedEx CEO: Red tape threatening Europe economy
- PNCT adds post-Panamax cranes
- Boston, Dalian are newest sister ports
- FedEx Express adds India flights
- Sea Containers suspends dividends
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| OCTOBER 20, 2005 |
- ICS crisis: Australian air and sea ports clog
One week after the mandatory and controversial introduction of its web-based Integrated Cargo System for imports, the Australian Customs Service faces an embarrassing back-down as cargo facilities clog with goods.
- Zim plans five new services in ‘secondary’ east/west routes
Zim Integrated Shipping Services is to start extending its east/west range of services significantly in the near future, with five new services launched on ‘secondary’ routes throughout 2006-7.
- Korean Government prepares for truckers’ strike
- Iranian import ban worries Korean exporters
- Patrick rebuffs Toll as PN boss goes
- Gulf and Pakistan shippers attack freight rate rises
- Chittagong set to fulfill potential, as efficiency improves
- Russian Railways VP goes to Duma to press for reform
- Portland opens up south road entrance to Terminal 6
- Georgia and Shanghai jointly promote trade
- Box volumes slip at Australian ports
- Inchon exceeds 100,000TEU mark for the first time
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| OCTOBER 20, 2005 |
- Tanker blues continue
Public shares are at or near their 52-week lows after spate of downgrades, drop in energy sector and general market malaise.
- Italian JV wins Montanari gas ships
Montanari stock climbs after it fetches $223m for 10 LPG fleets from two domestic rivals.
- LR takes pension hit
Classification society hits new record but pension fund deficit takes a bite out of profitability.
- Only way is up?
Nine-month profits slip, but Swedish tanker owner Concordia hoping new deliveries will boost fortunes.
- Take AIM
Financial broker gets out heavy hitters to talk up London’s alternative stock market for shipping.
- OSG man exits with $5m
Former operations chief Peter Swift secures generous severance package.
- TUI falls just short
Final acceptance of offer for CP Ships stands at 89.1% of shareholders, meaning 100% ownership will be delayed temporarily.
- Superfast switches IX
Extra ship on Baltic route means Greek owner will have only one ferry in North Sea.
- Probe begins into sell-off
Prosecutors investigate possible criminal action during privatisation of Lithuanian Shipping.
- A tale of two clubs
Divergent renewal strategies highlight differences between the have and have nots of the P&I world.
- Neorion raises capital
Greek group’s Syros yard to be modernised using money from share issue.
- Riga Sea Line crisis
Future of Baltic ferry operator in doubt after ship is impounded by Riga port authority.
- Lots of pluses for OOCL
Hong Kong container line improves volumes and revenues in all markets in first nine months.
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| OCTOBER 20, 2005 |
- TUI acquires 89.1% of CP Ships shares
- Court holds PPG liable for hazmat fire on ‘DG Harmony’
- Höegh Autoliners names Edvardsen VP, cargo handling
- Coast Guard probes fuel sheen in Hood Canal on Olympic Peninsula
- American returns to red with $153 million 3rd quarter net loss
- ANA, Japan Post to create air cargo airline
- AirBridge Cargo makes management changes
- United to start winter Chicago/Costa Rica service
- Nober to leave STB
- Bridge opening expected to ease Portland rail congestion
- Yellow Roadway names Naatz as senior VP
- Chertoff seeks to repair FEMA logistics
- Schenker buys remaining Linjegods shares
- NASSTRAC selects new location for logistics conference
- FMC learns about PierPass and other terminal concerns
- PD Ports subject to takeover approach, shares jump 12%
- Nhava Sheva terminal handles record TEUs in September
- Jacksonville port official to head Florida port finance group
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| OCTOBER 20, 2005 |
- German-Danish agreement to sell Scandlines
After several years of disagreement, it now seems that the German and Danish transport ministers have reached an agreement to ...
- Superfast Ferries expanding in the Baltic Sea
Superfast Ferries will transfer their ro-pax-ferry "Superfast IX" from the North Sea to the Baltic Sea. The vessel ...
- Deadlock on oil spill compensation revision
Talks at the IOPC Fund Assemply to revise oil spill compensation this week has so far remained deadlocked as parties ...
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| OCTOBER 20, 2005 |
- DOE: Oil demand decline could be overestimated
As oil prices fall again, DOE and analysts warn against reading too much into the apparent 'demand destruction' seen in recent weeks.
- Russia: 'No' to lower fuel oil export duty
Russian economy minister says further differentiation in oil product export duties is not needed, proposals put off indefinitely.
- US base oil capacity coming back on line
Group I base oil plants knocked offline by hurricane Rita will be operating normally before their group II counterparts.
- Alarm raised over abrasive fuels in Singapore
Bunker alert goes out after several samples reveal high concentration of hazardous contaminant, debunkering also reported.
- Gulf of Guinea: New facilities poised to meet rising demand
New bunker services in the Gulf of Guinea are poised to meet rising bunker demand driven by oil exploration companies.
- Gap narrows between Rotterdam barge offers/bids
- Singapore: Residual fuel stocks up, distillates down
- Chimbusco posts rise in bonded bunker fuel sales
Chimbusco posted a 33% rise in bonded bunker fuel sales for the first three quarters of 2005.
- Philippines lowers tariffs on bunker fuel
The Philippines is set lower tariffs and excise taxes on petroleum products and bunker fuel.
- Bunkerworld launches Credit Reporting
Every few years there is a shake-up in the otherwise relatively quiet marine credit reporting sector. Today's launch of Bunkerworld Credit Reporting is one of those times.
- New Antwerp strike threatens bunker timetable
Second union-led strike in a matter of weeks threatens to disrupt marine fuel supplies in Europe's second largest bunkering centre.
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