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| JULY 22, 2005 |
Shipping News
- M'sia rules out foreign patrols in Malacca Strait
PRIME Minister Abdullah Ahmad Badawi said yesterday Malaysia would never allow foreign military forces to help patrol the Malacca Strait, which is vulnerable to pirate attacks.
- AP Moeller-P&O deal closer to approval
AP Moeller-Maersk A/S's US$2.8 billion acquisition of Royal P&O Nedlloyd NV, the container-shipping industry's biggest-ever transaction, moved closer to winning European regulatory approval after customers concerned about the deal accepted the companies' offer to sell off routes.
- US detains 17 ships on safety faults
US coast guards detained 17 ships in May, including chemical tankers operated by Odfjell ASA and Stolt-Nielsen SA, the world's biggest operators of deep-sea chemical carriers, for failing safety checks.
- Dalrymple Bay coal port has record exports
- DISAPPEARING ACT
Admiralty Casebook
- Suppliers lose to bank in 'maritime lien' claim
ACANADIAN court has thrown out a bid by 15 suppliers, including one who provided supplies in Singapore, to be paid ahead of a mortgagee bank in their claim against the proceeds of the sale of three vessels.
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| JULY 22, 2005 |
- Tianjin Development plans to spin-off port unit
- Cosco Wallem to provide ship management to PRC ship owners
- PierPass to create 350-550 union jobs
- P&O given nod to build logistics and business park in London
- Swire signs terminal service agreement with PSA
- Royal P&O Nedlloyd forecasts H1 throughput, revenue rise
- US Customs chief unveils radiation monitors at LA, Long Beach
- SCT starts construction on new gatehouse
- MCAS wins cargo contracts in China
- Continental reports Q2 net profit of US$100m
- Beijing to hold Tiaca's annual general meeting in 2006
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| JULY 22, 2005 |
- Heyer and Truppat new faces at Rhenus Midgard
- Canada feeling impact of Vancouver truck strike
- Etihad increases Cairo frequencies
- India to declare three new national waterways
- Dailyfresh chooses Dunkirk
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| JULY 21, 2005 |
- Ferry sacking row
- Brussels okays Dutch shipyard loan guarantees
- Fred Olsen results
- Boxboat hits ferry at Southampton
- North of England warns on height dangers
- Canada to use aircraft to spot pollution
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| JULY 21, 2005 |
- Tidewater announces increased earnings
- Rep. Weldon prescribes tax relief for short sea shipping
- AIS site for Unimak Pass
- K Line order cape size bulker from Shanghai yard
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| JULY 21, 2005 |
- Corps of Engineers taps new Portland District boss
- Crowley taking delivery of 3,661 new containers
- Washington Pilot Board schedules licensing exams
- Award winners announced for top oil spill agencies for 2005
- Union Pacific sees big jump in second quarter income total
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| JULY 22, 2005 |
- Seaspan seeks $750m in New York as Genco retreats
THE market malaise that has afflicted shipping share offerings in the US since June claimed its most famous victim yesterday, forcing Genco Shipping & Trading to cut the price of its impending Nasdaq initial public offering by about 10% and abandon the secondary share component of its deal.
- AP Møller-Maersk raises $6.5bn loan to lift reserves
DANISH company AP Møller-Maersk has obtained a $6.5bn syndicated revolving loan but has no plans to draw on the credit for the time being.
- P&O Nedlloyd Dutch probe call
DUTCH shareholders’ association VEB will go to the Netherlands financial markets authority, asking it to look into the possibility of insider trading at P&O Nedlloyd.
- Favourable freight rates boost half year results
STRONG freight rates contributed to a 17% increase in Royal P&O Nedlloyd revenue from container shipping in the first half of the year, writes Janet Porter.
- Bush hails hi-tech advance
PRESIDENT George W Bush has highlighted efforts to boost port security in his country as new technology is being rolled into place, writes Rajesh Joshi.
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| JULY 21, 2005 |
- More London incidents
LONDON'S underground rail system was closed today following a series of small explosions
- Seafarers killed as boats overturn
ONE seafarer is dead and another missing after two Taiwanese rescue craft were overturned in heavy seas caused by the tail-end of Typhoon Haitang on 20 July
- Boxship loses power, scrapes ferry
THE 8,400 TEU containership Savannah Express ran into a laid-up ferry and crushed a linkspan in Southampton on Tuesday after losing power to the main engine
- St Lawrence hunts for new cargo
- No agreement in the oil pipeline
- Second blow for Sulpicio
- Kiperousa refloating expected soon
- China revalues the yuan
- Vancouver truckers face class action
- Fred Olsen owners double profits
- SeaFrance seeks Calais compensation
- ISPS measures failing in Nigeria
- Taskforce to tackle port corruption
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| JULY 21, 2005 |
- Radiation check for all LA import boxes
Customs and Border Protection by year-end plans to install 90 radiation portals (left) to scan all marine containers that enter the country's busiest trade gateway.
- Bush vows increased port security
- Shippers back Maersk-P&O deal
- Montreal rallies
- Importers: Vancouver a 'choke point'
- Trade talks stalled, says WTO chief
- UPS profit surges
- China revalues yuan
- ExpressRail for Staten Island
- Union Pacific Q2 profit up
- Strike looms for Northwest Airlines
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| JULY 21, 2005 |
- Truckers vent anger as HK terminals pass costs of e-receipts
Hong Kong transport companies warn of escalating action if they are made to bear the costs for the electronic terminal receipts (eTR), which will formally be implemented in early October.
- China's first cautious revaluation could go far, say US manufacturers
China has approved an initial 2.1% appreciation of the yuan renmimbi, with the prospect of a peg to a basket of currencies, which could lead to significant further appreciation.
- Feeder line forced to quit Rotterdam by over-zealous customs
- Trinidad looks for Port of Spain partners
- Konsortium's customers may pay the price for high cost of oil
- BPA and MOMAF invest in Busan logistics development
- Korean customs to further shorten import-cargo procedures
- Intermodal volumes boost CN profits
- Australia-China trade sure to grow, says ABARE
- Drop in empty boxes hits Ulsan's H1 thoughput
- Libra management action averts Santos trucker strike
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| JULY 21, 2005 |
- Genco prices at $21
New bulker company brought by Peter Georgiopoulos, Oaktree Capital will gross around $237m from discounted offering.
- Genco erases insider cashout
Backers Oaktree Capital and Georgiopoulos give up plans to cash out 1 million shares, but expand company's stock offering by 800,000.
- Haircut and a trim?
Genco bulker offering is having a tough time holding new bottom range of $22 and could face a double discount as IPO pricing talks stretch into evening.
- OSG drops cars and Maersk
Morten Arntzen's OSG is changing partners for the next hand of US maritime subsidies.
- Maersk signs huge loan
New $6.5bn revolving facility will replace old debt and provide deep pocket for the future.
- Seaspan IPO aims at $854m
Seaspan Corp aims to own 23 containerships and operate them for China Shipping and CP Ships.
- Canada holds one
Port state checks end in detention for just a single general cargoship during June.
- Eitzen in action
Axel Eitzen is behind the Top Tankers KS sale and two other purchases.
- Genco cuts IPO
Peter Georgiopoulos whittles back both price and size of new dry cargo venture.
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Unitor doubles profit
Wilh Wilhelmsen’s newly acquired ship supply company has a bumper second quarter.
- K Line inks China cape
Japanese owner orders 177,000-dwt bulker at showcase shipyard Shanghai Waigaoqiao Shipbuilding.
- Quintana fixes Barbara
New stock exchange member ties up latest bulker for a year with Cargill.
- Olsen bounces back
Ganger Rolf and Bonheur see second quarter recovery after early months loss.
- Attack on Messina conro
An Italian ship has been attacked by pirates off the coast of Somalia.
- Dutch yards win loan guarantees
European Commission clears state backing for ship finance from banks.
- Tufton founder departs
Rhys Thomas sets off for new life in Miami as Renaissance legal action finally settled.
- Haitang lashes Taiwan
Seaman drowns after disaster strikes rescue mission of crew from ship driven aground by typhoon.
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Nedlloyd leaves South Africa?
Leading fruit shipper claims Maersk to sell off P&O Nedlloyd routes, as buyers line up.
- Nedlloyd nails higher rates
Maersk takeover target on track for better first-half result as turnover rises.
- Kiperousa refloat postponed
Plans to pull stranded bulker from South African reef delayed after problems with salvage chopper.
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| JULY 21, 2005 |
- Maersk Sealand to drop Paramaribo from Caribbean feeder
- Yang Ming christens last of four 1,500-TEU ships
- WTO to referee Boeing, Airbus dispute
- American, Continental post second quarter net income profits
- Watco leases five branch lines from Kansas City Southern
- CP Railway completes another capacity expansion project
- Bush extends Liberia embargo
- Puerto Rico trade summit scheduled for October
- Bush promotes port security efforts during Baltimore visit
- North Carolina ports cargo up 20%
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| JULY 21, 2005 |
- UK authorities minded to approve plans for new box port near London
Britain’s new transport minister Derek Twigg yesterday announced that he is minded to give a go-ahead to the building ...
- Shipping company buys technical manager
The shipping company Fabricius & Co, in Marstal, Denmark, has performed a company purchase by taking over all the shares in ...
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| JULY 21, 2005 |
- Two new bunker barges unveiled in Jacksonville and Savannah
USEC-based supplier Colonial Oil announces two new bunker barges operating by the end of August.
- Delays in Mexican ports due to hurricane fallout
Barge movements restricted today in Tampico and Altamira in the wake of hurricane Emily.
- Singapore: Fuel oil glut may see more product in Fujairah
Two Saudi Arabian high viscosity fuel oil cargoes have attracted little attention in Singapore, prompting traders to suggest that instead, the cargoes might be blended down to marine fuel specification for sale in Fujairah.
- Shipping firm announces three new Asian ventures
Wallem Group has announced the continuation of its path of expansion in Asia with the commencement of three new entities in July.
- Increased demand prompts Addax fleet expansion
Addax Bunkering Services (ABS) announced today that a new tanker has been added to its bunkering operations in the Morocco/Mauritania area.
- Fuels tested off-spec for density in Panama
Global fuel testing agency DNV Petroleum Services has issued an alert to its customers regarding off-spec fuels in the Panama Canal Zone.
- Thai oil firm seeks better value for fuel oil exports
Thai oil firm PTT is said to be looking at the option of exporting fuel oil cargoes directly to China, in a bid to enhance the value of their cargoes by cutting out the "middle-man" role played by Singapore.
- Rotterdam: HFO & lubricant supplies up in H1, 2005
Heavy fuel oil and lubricants supplied to ships in the first half of this year showed significant growth, while distillate sales decreased slightly.
- Japan: Bunker fuel prices extend bearish trend
Bunker fuel prices in Japan have continued the downtrend, while bunker availability is starting to show signs of tightening.
- Singapore: Fall in stocks of fuel oil and middle distillates
- Haitang aftermath claims another life
A seafarer died and another went missing during a rescue mission to ferry stranded sailors from a grounded ship off Taiwan due to typhoon Haitang.
- Oiltanking invests in fourth tank farm in Singapore
Independent storage operator Oiltanking has invested $59.4 million in the company's fourth storage terminal on Jurong Island in Singapore.
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