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| AUGUST 22, 2005 |
Shipping News
- TUI to buy CP Ships for US$2b to boost capacity
IN yet another case of consolidation in the shipping liner business, TUI, the owners of the Hapag-Lloyd shipping line, is taking over UK-based container line CP Ships Ltd for US$2 billion.
- Pacific Basin to sell and lease back 5 ships
PACIFIC Basin Shipping Ltd, a Hong Kong-based dry bulk shipper, said it will sell five of its ships for a combined US$100 million and then lease them back, using the proceeds from the sale to repay loans.
- Shanghai Port Container's stock sale plan gets nod
SHANGHAI Port Container Co, the publicly traded unit of China's biggest port, said shareholders have approved a plan to dispose of the government's holdings in the company.
- Paul Y-ITC investing in China port
- Persian Gulf oil tanker rates may rise this week
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| AUGUST 22, 2005 |
- China, US to launch new round of talks to resolve textile dispute
- Paul Y to be largest shareholder in Nantong Port Group
- Asian shipowners afraid of higher premiums for Malacca Strait trade
- Wako aims for US$100 million turnover by end 2006
- CIT orders more Airbuses
- HK Aviation Development Advisory Committee to be put into place
- US flight attendants oppose proposals to ease dangerous items ban
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| AUGUST 22, 2005 |
- OOCL announces Grand Alliance service structure for 2006
- RCL Q2 earnings surge by impressive 83 pc
- SCI proposes to acquire 10 vessels
- Commerce Ministry’s Economic Division projects lower export growth this fiscal
- WTO’s trade facilitation talks must address exporters’ concerns-Kamal Nath
- Imports of vanaspati under FTA from Lanka to be restricted to 2.5 lakh tonnes
- Woollen exports surge by 18.3 pc in Jan.-May 2005
- Fieo favours India-China free trade agreement with ‘negative list’
- JNPT Board clears placing of orders for 2 RMGCs
- TAMP amends NSICT’s scale of rates
- MMB appoints Deloitte to prepare feasibility report for developing Redi port
- Gateway Distriparks launches operations at CFS in Vizag
- Rlys earn Rs 11,338.88 cr. freight revenue during April-July 2005
- HPCL scouting for foreign partner to set up refinery at Vizag
- Loan disbursals under TUF scheme increase by 50 pc in April-May
- Assocham seeks creation of single body to settle service tax issues
- CBEC may allow more banks to collect Customs duty
- After over 4 eventful decades, this skipper decides to drop anchor
- Maersk Oil acquires stake in Petrobras’ oil hunt licence
- S. R. Kulkarni seeks monetary aid for deluge-hit Port workers
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| AUGUST 19, 2005 |
- Head of Thai Airways suspended
- First of three post-panamax cranes for Durban
- Delta expands network
- New MAN Nutzfahrzeuge lorry plant in Cracow
- Penske Logistics takes over Cotia Penske Logistics
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| AUGUST 19, 2005 |
- Lubes shortage hits Singapore
- Exmar to sell fleet of small gas carriers
- UK authorities pull ISM certification from Wightlink’s fast ferries
- Confusion over Semlow cargo
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| AUGUST 19, 2005 |
- Nichols Brothers delivers California passenger catamaran
- Everett Port Commission sets new marina rates
- Special NCL charity cruise raises $250,000 for Hawaiian agencies
- WTSA carriers plan new fuel surcharge scheme
- First week of August brings gains for rail freight
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| AUGUST 22, 2005 |
- Hapag Lloyd swoops for CP Ships in $2bn deal
GERMAN container line Hapag-Lloyd has pulled off a stunning coup with an agreed $2bn bid for CP Ships, the UK-headquartered company that has been at the centre of takeover speculation for several months.
- Hapag-Lloyd ready to pay $2.6bn for CP Ships
HAPAG-Lloyd is preparing a bid for CP Ships which could result in an auction for the company and a price of more than €2bn ($2.6bn).
- Fresh takeover interest strengthens share price
CP SHIPS’ share price climbed to the highest level for more than a year on Friday as news emerged of yet another potential bidder.
- Disgruntled ASF rejects Malacca Strait risk listing
THE Ship Insurance and Liability Committee of the Asian Shipowners Forum is deeply disappointed at results of the briefing meeting with the Joint War Committee on August 16 in London.
- Exmar tanker clearance could mark LPG tanker sector exit
EXMAR is in discussions concerning the future of three remaining liquid petroleum gas tankers, following the sale of nine ships last week, writes Helen Hill.
- PBS sell-off nets solid gain
HONG Kong-listed bulk carrier Pacific Basin Shipping said on Friday that it expected to book an estimated net gain of HK$3.36m (US$432,000) from selling five ships this year, writes Mike Grinter.
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| AUGUST 19, 2005 |
- Caribbean cruising passport reprieve
THE US has reconsidered a plan to require Americans returning from the Caribbean to have passports by 31 December
- Cabotage rules eased for congestion
INDIA'S shipping ministry has extended the relaxation of cabotage law by six months to facilitate coastal movement of containers from Jawaharlal Nehru port
- South African storms kills one
ONE seaman has been killed and three injured in two separate incidents today in a storm off the South African coast
- Ecuador declares Force Majeure
- Hapag parent to bid for CP Ships
- Exposives in Indian scrap kill two
- Dry bulk rate recovery to continue
- Eitzen suffers from weak dry rates
- Worker killed at Fort Lauderdale
- No top marks for carriers
- An ill wind for Pemex
- Australia to raise emergency fund
- LNG could clog Gulf channels
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| AUGUST 19, 2005 |
- TUI in takeover talks with CP Ships
Acquisition by parent of Hapag-Lloyd, Germany's largest liner, would create the world's fourth-largest container carrier.
- Deadline for Northwest strike
- DOT to set new truckers hours
- Survey sees economic revival
- Port security test underway
- U.S. urges Canada to reschedule lumber talks
- India rate hikes coming
- Diana gets new dry bulk charter
- CMA CGM tests reefers
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| AUGUST 19, 2005 |
- Freight forwarder slams inefficient CP Ships service
CP Ships has confirmed that delays caused by staff shortages are the cause of delays in Montreal, following a detailed complaint from one freight forwarder.
- FESCO and Severstaltrans close container-rail joint venture
The container-rail subsidiary set up last year by Far Eastern Shipping Company (FESCO) and SeverstalTrans is being disbanded, with platforms returned to owners and container platform orders cancelled.
- Dutch dockers threaten short, sharp ‘stop’, to preserve ILO 137
- MISC to grow through new alliance partnerships
- Delhi maintains cabotage law suspension
- CP Ships mating-dance goes on, as another potential partner admits flirting
- New Sino-US textile talks scheduled for Beijing
- MTL seeks loan to fund China port projects
- High steel price slows CIMC profits
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| AUGUST 19, 2005 |
- Nel Lines sues Pielstick for $110m
Greek ferry line claims persistent engine problems on three vessels.
- Mixed reviews of Hapag-CP talks
Not all German analysts are spanking Hapag-Lloyd’s parent TUI for talking merger with CP Ships.
- PacBasin lightens the load
Sale and leaseback of five handysizes will take $96m off the balance sheet.
- Grindrod in share split
South Africans look to improve liquidity, while confirming partners will be sought for Nedlloyd services bid.
- Svithoid runs up losses
Swedish newcomer swallows operating costs while waiting for delivery of first two products tankers.
- Piracy or terrorism?
Asian owners say London insurers are muddling the two in their assessment of risk in the Malacca Straits.
- GSI makes progress
Guangzhou shipbuilder heading in right direction in first half of 2005 as it keeps eye on costs.
- Earnings stable at Golden Ocean
But one-off gains account for more than half of recent profits.
- Solstad smiling
Profits back with a bang at Norwegian offshore owner as it orders new ship.
- Taxman boosts Eitzen
Norwegian owner’s lower tax bill in first half brings net profit above 2004’s level, but costs rise.
- PTP seals loan
Malaysia’s Port of Tanjung Pelepas to use funds from government bank for expansion plans.
- Drydocking hits Srab
Small Swedish owner’s first half profit and revenues suffer after tanker out of action for 50 days.
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| AUGUST 19, 2005 |
- Hapag-Lloyd parent in talks to buy CP Ships
- Coast Guard: sulfuric acid leak from Texas barge stopped
- Qantas's net profits up 17.8%
- Bankruptcy Court permits US Airways to sell aircraft
- CIT Group orders A350, A320 aircraft
- World to expand fleet capacity
- California Trucking Association backs legislation to increase diesel fuel supply
- CN to expand intermodal capacity by 15%
- Freight volume for week ending Aug. 13 up from a year ago
- Salinas International selects IES software
- Commerce: Brazil dumps orange juice on U.S. market
- Exel earns Brazil multimodal license
- Lumber shippers pay fines for U.S. export violations
- Ozburn-Hessey Logistics hires industry veteran
- San Francisco tests reaction to security threats
- Houston celebrates ship channel expansion
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| AUGUST 19, 2005 |
- Prosecutor investigates Swedish ferry operator
A Swedish prosecutor specializing in corruption cases has decided to launch a preliminary investigation into charges against Destination Gotland – the ...
- TFDS/OVDS merger on the agenda
Talks to merge the Coastal Express operators divisions of Troms Fylkes Dampskibsselskap (TFDS) and Ofoten og Vesteraalens Dampskibsselskap (OVDS) are ...
- DFDS back on wheels again
The DFDS group is now back on wheels again after the purchase of a part of the Belgian company Halléns ...
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| AUGUST 19, 2005 |
- Fuel oil arbitrage prospects bearish despite VLCC fixture
Despite the fixture of the first Asia-bound VLCC from Europe in two months, traders have said that fuel oil arbitrage prospects remain bearish.
- Crude rebounds on failed rocket attack, Ecuador disruption
Markets rebound after news of failed rocket attacks in the Middle East and massive supply disruptions in Ecuador.
- Mexican official rues lost bunker business
A Mexican Department of Transport official has said the country is missing out on potential bunker business, echoing the voices of Mexican bunker suppliers.
- Hong Kong: Bunker prices rebound on crude gains
After yesterday's drop, Hong Kong bunker prices rebounded today following the rise in crude oil prices.
- Korea Ocean Energy to relocate head office
- Showa Shell bags profits in first half this year
Japanese refiner Showa Shell posted an increase in net income in the first half of 2005 with healthy bunker sales volumes also noted.
- Oil prices steady on gains in US crude reserves
Oil prices have remained steady as an increase in US crude reserves have helped to ease concerns over tight supplies.
- Singapore: GAC reveals ambitions for continued expansion
GAC Bunker Fuels Singapore sets sights on expanding its market share in the region and boost its role within the GAC Group.
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