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| AUGUST 23, 2005 |
Shipping News
- Australia's Toll group in A$4.9b bid for Patrick
AUSTRALIA's largest land transport group, Toll Holdings Ltd, made a hostile A$4.9 billion bid for port operator Patrick Corp to boost its rail, road transport and air freight businesses.
- Call for urgent review of Malacca Strait risk assessment
AN 'urgent and thorough' review of the risk assessment of the Malacca Strait by London marine underwriters is needed, said the Federation of Asean Shipowners' Associations following the underwriters' refusal to back down on the issue last week.
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| AUGUST 23, 2005 |
- CP Ships accepts TUI's US$2b cash offer
- Shallow dip forecast for box trade in 2006: report
- MISC explores link with foreign lines
- US trucking industry in danger of infiltration by terrorists: consultant
- BAX Global appoints new corporate director in India
- Northwest to keep flying despite mechanics strike
- Indian airlines looking for international tie-ups
- Arabian Airlines gains IATA security certification
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| AUGUST 23, 2005 |
- TUI AG offers to buy CP Ships for $ 2 bn
- Insurers maintain high-risk grading on Malacca Strait
- ABG Shipyard takes IPO route to raise funds
- Shipping industry apprehensive about Admiralty Bill
- BIMCO’s 14th Masterclass Workshop on Nov. 2-4
- Enticed by Indian leather goods, MNCs eyeing stake in manufacturing cos
- Garment fair nets Rs 325-cr. business deals
- Sethusamudram dredging works evoke excellent response from bidders
- MoS clears decks for TPT’s 2nd box terminal
- Gujarat govt sounds British Gas, IOC on development of 2 LNG terminals
- Scrap discharge record set by Vizag Seaport
- Vizhinjam port project draws just 2 bidders
- Forex reserves up by $ 2,037 million to $ 1,42,637 million
- India can gain $ 40-60 bn annually from outsourcing-UNCTAD
- Anti-dumping duty on PTFE from China mooted
- Textile Committee to figure it out
- Most SMEs on expansion track, finds CII survey
- Ficci lays out agenda for tax laws review
- Over a billion flows into forex kitty
- Investors see roadblocks in draft BOT pact
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| AUGUST 22, 2005 |
- A. P Møller–Mærsk reorganises executive team after PONL acquisition
- Tui/Hapag-Lloyd to acquire CP Ships
- PortGround takes on ramp handling for DHL in Leipzig
- Fréjus tunnel reopens ahead of schedule
- Schenker wins logistics tender from Metro for the Ukraine
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| AUGUST 22, 2005 |
- IPBCC announces rate increase
- Camillo Eitzen & Co sees profits drop
- Golden Ocean enjoys good second quarter
- Asian shipowners disappointed with war risk meeting
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| AUGUST 22, 2005 |
- ASL to expand Batam and Singapore shipyards
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| AUGUST 22, 2005 |
- CP Ships' board backs buyout offer
- Western states set record for lumber production during year
- Portland Women's Shipping Club calling for Boss of the Year nominations
- Department of Transportation lays down new trucker rules
- Tall Ship LADY WASHINGTON stops in Everett for public tours
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| AUGUST 23, 2005 |
- Tui trumps rival bids for CP Ships but CMA CGM may yet up ante
GERMAN container line Hapag-Lloyd has pulled off a stunning coup after topping rival bids for CP Ships with an offer that values the UK-headquartered company at $2.3bn.
- Toll confirms hostile bid for Patrick - then gets rejected
AUSTRALIAN logistics group Toll Holdings has confirmed a A$4.6bn (US$3.5bn) hostile cash and scrip offer for Patrick Corp, just days after calling initial reports of the bid "old news", write Rob McKay and Lloyd’s List DCN.
- NYK-Lauritzen reefer merger approved
JAPAN’S NYK and Denmark’s J Lauritzen have received the go-ahead to merge their refrigerated cargo activities, writes Janet Porter.
- New talk shop marks closer co-operation between Lloyd’s and the company market
CLOSER ties in London between Lloyd’s and the company market — once renowned for their mutual indifference — deepened yesterday with the creation of a joint marine claims talk shop.
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| AUGUST 22, 2005 |
- Hapag parent wins CP Ships
TUI AG, the parent of German container line Hapag-Lloyd, has agreed a Euro1.7Bn ($2Bn) takeover deal with CP Ships
- Shell out of Venezuela gas
VENEZUELA has confirmed that Royal Dutch Shell will not be a partner in its $2.7Bn Mariscal Sucre natural gas project, ending years of negotiations
- Ecuador truce declared
ECUADOR’S oil production rebounded yesterday after an end to protests that had severely disrupted exports last week
- Lakes ferry ‘curse’ continues
THE Great Lakes fast ferry Spirit of Ontario has experienced yet another mishap, crashing into the Toronto terminal in Canada while under the control of a master trainee
- New bill to hit Indian breakers
SHIPBREAKERS in India are protesting against the newly proposed Admiralty Bill 2005 which amends admiralty jurisdiction of courts and ship arrest, detention and sale rules
- Hamburg applauds Hapag deal
HAMBURG state government has welcomed the planned takeover of CP Ships by Hapag Lloyd’s parent TUI
- Tokyo MoU looks to operations
- Trindad blast: 'Human error'
- Toll bids for Patrick
- India takes 1.25M tonnes of LNG
- GE Shipping denies split rumours
- French coast guard too expensive
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| AUGUST 22, 2005 |
- Hapag-Lloyd parent to buy CP Ships
TUI, Germany's largest tourism company, agrees to $2.1 billion cash deal that will create world's fifth-largest container carrier.
- July warms to West Coast imports
- NOL volumes rise
- Security fee for New York terminals
- Customs tests FTZ e-reportng
- Northwest flying despite strike
- New hours-of-service rules issued
- China Shipping profit rises
- NYK, Lauritzen merge reefers
- Panama Canal waits decline
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| AUGUST 22, 2005 |
- Offer to CP Ships likely trumps other bidders, says Canadian bank
National Bank Financial (NBF) today said the US$2.3bn offer from Germany’s TUI AG for CP Ships likely trumps any other bidders who have been lurking in the weeds.
- Toll in hostile bid for Patrick
Australia’s leading broad-spectrum transport group, Toll Holdings, has launched a A$4.6bn (US3.45bn) takeover bid for the nation’s number two, Patrick Corporation.
- HK Port efficiency beats China cost gap, says shipper
- HK shippers say documentation charge hike unreasonable
- TUI swoop for CP Ships
- APL sees revenue/FEU hit 13-year peak
- Russian Railways confirm $1.22bn rouble-only bond issue
- India and Pakistan to review shipping protocol
- Dubai Port Phase I expansion begins
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| AUGUST 22, 2005 |
- Hapag's Hanseatic holed
German passengers are being flown home after a cruiseship grounded off Spitzbergen.
- CSCL keeps it coming
China Shipping Group’s boxship unit builds first half profit on back of bigger volumes.
- Bogazzi buys out V.Ships
Italian owner’s Navalmar takes sole control of New York-listed MC Shipping.
- Can Gio can go
Vietnamese cargoship held in Tanzania for more than a year is on its way home.
- NYK, Lauritzen get green light
Japanese and Danish owners' reefer tie-up cleared by European Union.
- TUI shares slide
German group’s stock price takes a dip in early Monday trading, in reaction to CP Ships takeover bid.
- MBC milks second-hand market
Six ship sales send Malaysian owner’s profit soaring in first six months.
- Taiwan Navigation rises again
Taiwanese bulker and tanker player builds profit once more in first half.
- ABG files for offering
Indian shipbuilder outlines plan for IPO as it seeks to boost capacity.
- Toll bids for Patrick
Australian logistics and transportation group makes $3.5bn unsolicited bid for domestic rival.
- Take the money
CP Ships’ board of directors have recommended that shareholders accept TUI’s $2bn offer.
- Aussies arrest livestock ship
Authorities in Adelaide hold Mawashi Al-Gasseem over alleged $600,000 in unpaid debts.
- SSC sells VLCC stake
Singapore Shipping Corp has sold its 20% stake in the MOL single-hulled Bright Artemis.
- ASL plans to expand
Singapore firm plans to introduce capesize drydock to Batam facility plus infrastructure investments.
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| AUGUST 22, 2005 |
- CP Ships agrees to TUI's $2.3 billion offer
- MISC's pre-tax profit down 5%
- China Shipping adds calls at Halifax, Miami
- Asian ship owners disappointed with Malacca Strait ruling
- Maritime attorney Fred Fisher dies in California
- TNT adds 757 to Western Europe route
- Freightliner takes delivery of all-new box handling equipment fleet
- Hong Kong shippers protest $125 documentation fee
- PWC Logistics wins third U.S. military contract in three months
- Ensenda names Smith CEO
- PMSA lauds California legislature for passing SECA resolution
- Dubai Ports starts Jebel Ali expansion project
- Bristol Port Co. orders post-Panamax crane from Kalmar
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| AUGUST 22, 2005 |
- New European container gigant formed
German TUI has launched an offer worth USD 2.3 billion for Canadian CP Ships. The deal includes assumption of net ...
- The EU Commission gives green light to reefer merger
The EU Commission has approved the merger of Lauritzen Cool’s and NYK Reefers’ reefer activities. The new company, owned on ...
- Fjord Line suffers from competition
Bergen-based passenger ferry operator Fjord Line is increasingly exposed to competition from Color Line to Denmark and generally from ...
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| AUGUST 22, 2005 |
- Panama prices close gap on Houston
Prices in Panama softened today with suppliers shrugging off reports of tight avails on the Caribbean coast.
- US markets firm to record levels
Bunker markets quiet in the US, but tight avails see New York prices at record levels.
- DMCC: Newly appointed Energy Director forging industry links
Newly appointed energy director to develop regional market and product development for the energy sector, including a fuel oil futures contract on the Dubai Gold & Commodities Exchange.
- Ventspils: Bunkering resumes after extended barge absence
Normal supply capacity resumes but annual sales volume could suffer.
- Few fixtures despite open arb, record high Asian prices
Despite benchmark fuel oil prices in Asia reaching record highs and the opening of the arbitrage window from Europe, Asia-bound fixtures remain few and far between.
- Shipping lines introduce US to Asia fuel surcharges
Surcharges only partially successful in defraying extra fuel costs.
- Rotterdam firm this afternoon
- Japan: Poor demand hits bunker market
Poor bunker demand has hit the Japanese market and several bunker traders report zero enquiries.
- Lanka IOC explores bunkering services off Trincomalee
Lanka IOC confident Trincomalee can be developed into a regional bunkering hub.
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