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| FEBRUARY 24, 2005 |
Shipping News
- UK Navy finds no depth changes at Malacca Straits
A British Royal Navy hydrographic vessel has found no evidence of changes in depth at the busy entrance to the Malacca Straits despite reports of sudden, dramatic shallows in the key shipping lane following the massive tsunami-triggering earthquake.
- Frontline's Q4 profit sails to record high
FRONTLINE Ltd, the world's biggest oil tanker company, said fourth quarter profit surged sevenfold to a record on higher oil demand as it boosted its stake in General Maritime Corp.
- Panama Canal to host attack simulation
SHIPPING companies from 12 European countries and the Americas are to take part in Panamax 2005, an air-naval exercise based around a hypothetical terrorist attack, the fourth in recent years.
- Persian Gulf tanker rates may rise further
- DPI completes acquisition of CSX unit
- Jinhui Shipping Q4 profits jump, sees firm market
- Star Cruises Q4 loss down to US$37.2m
- GOING UNDER
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| FEBRUARY 24, 2005 |
- Tianjin expedites port construction
- Shanghai high-tech exports soar 72pc in 2004
- Labour, management issues contributing to US port congestion: report
- DPI completes acquisition of CSX World Terminals
- Cosco Corp posts net profits of US$40m for 2004
- Malaysia seeks to remould trade ties with India
- Northwest applies to start flights to Bangalore
- Rutges joins Cargo 2000
- SIA Cargo to add Nagoya, Istanbul to network
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| FEBRUARY 24, 2005 |
- WTSA announces GRI on metal scrap shipments from US to Asia
- PSU insurers oppose move to de-regulate tariff
- GE Shipping contracts to buy second-hand dry bulk carrier
- Rising global demand for Indian rice seen
- Crane operators from NSICT boosting operations at CCT
- Dhamra port project may reach financial closure by May
- Kandla Custom House now online
- Star Track Terminals’ CFS-Dadri now fully operational
- Govt assessing likely impact of Indo-Thai FTA
- Bumper wheat harvest may yield 2-3 m tonnes for exports
- No carcinogen in Indian chillies—Kamal Nath
- Mills allowed to import 3 m tonnes of raw sugar
- Festivities Galore At AMTOI’s First ‘Annual Day Meet’
- Top honchos of MFs, AMCs and Crisil to address IMC seminar on mutual funds tomorrow
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| FEBRUARY 23, 2005 |
- Inverted pricing sees Shell monopolise Houston market
Shell has emerged as the dominant force in the Houston marine fuel market in recent weeks as it pursues an aggressive programme of buying 3% sulphur fuel oil and selling IFO380 bunker fuel at inverted prices.
- Latest gains and avails in Saudi ports
- Rotterdam continues firm this morning
- France: Court ruling paves way for Erika trial
A French court has ruled against a proposal that further expert evaluations are needed to clarify the liability, or otherwise, of charterer Total in the case of the Erika disaster before trial.
- Tramp Oil secures more US Defense contracts
Global bunker operator Tramp Oil has secured two more contract extensions with the US Defense Energy Support Center (DESC).
- More Singapore staff moves
- Crude markets surge on weather, supply and weak US dollar
Crude markets make gains well in excess of $2 per barrel as cold weather returns and old worries about supply and the weak US dollar resurface.
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| FEBRUARY 23, 2005 |
- EWS website to cover "disposals"
- Qatar considers trade deal with the USA
- Politrans inaugurates new branch in Brazil
- Boom on the North Sea-Baltic Sea canal continues this year
- Today’s visit of US president
- Panama to increase toll for containerships
- Finnair Cargo names new managing director
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| FEBRUARY 23, 2005 |
- Frontline profit passes US$1dn mark
- Class trio pre-empt IACS in surveyor safety initiative
- Bulk market buoys Belships
- Alianca rejigs schedules
- London Club says masters must be prepared to question pilots
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| FEBRUARY 23, 2005 |
- Rolls Royce boosts Mississippi propeller machining capabilities
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| FEBRUARY 23, 2005 |
- Senator Murray to talk trade at several Clark County events
- Hamburg Sud returning to previous sailing schedule
- Sale of CSX World Terminals closed by Dubai Ports International
- DOT eyes expansion of airlines serving China
- Marine Terminals Corp. taps Reimers as vice president
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| FEBRUARY 24, 2005 |
- Genmar buy on the agenda as Frontline earnings pass $1bn
JOHN FREDRIKSEN'S company has accompanied annual earnings which pierced the $1bn threshold for the first time with the admission that it views rival tanker operator General Maritime as a takeover target.
- Frontline tops $1bn earnings and targets General Maritime
Frontline has accompanied annual earnings piercing the $1bn threshold for the first time with a clear indication of its ambition to acquire rival tanker operator General Maritime (Genmar).
- Container index breaks 2,000 barrier
Howe Robinson’s weekly container index soared through the 2,000 barrier for the first time yesterday, helped by a burst of fixture activity by Maersk Sealand and other global carriers.
- UK joins EU coastguard rebellion
BRITAIN and at least six other European Union members will firmly quash any attempt to form a European coastguard, UK government sources confirmed yesterday, writes David Osler.
- Europe green lights criminal sanctions
A FIVE-month campaign to prevent the EU breaking away from an international convention on oil spill pollution ended in failure yesterday following a vote in the European parliament.
- Officer shortage could get worse warns Barber
THE chief of Barber International’s crewing company says that the much talked about shortage of senior officers is now a reality and it could get worse than predicted.
- European deficit confined to tankers
NO GENERALISED officer shortages have so far been reported in Europe, although the supply is tight in some specialist areas.
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| FEBRUARY 23, 2005 |
- RCL net profit surges to $93M
INTRA-Asia operator Regional Container Lines has achieved record profit of $93M for 2004 on the back of booming trade
- Mindanao seeks port operator
A private port operator is being sought to run the Mindanao Container Terminal in the Philippines after two earlier open bidding exercises were unsuccessful
- Lukoil to back Arctic tanker port
IN a new tussle over who will control the next generation of Russian oil ports, LUKoil is backing its own plan to expand shipments from Varandey in the Arctic
- Pemex needs massive investments
MEXICO will become a net crude importer by 2015 unless state-run oil company Pemex secures $20Bn in investments a year to maintain production, it was claimed this week
- Denmark to transform ship financier
- Frontline pushes to $1Bn profit
- Canberra pushes coal port expansion
- China to give up rail monopoly
- French Guyana port 'too expensive'
- Greek seafarers to strike next week
- Ship sales boost Concordia profit
- Indian officer shortage growing
- Norway cruise interest pulls out
- Shippers hit out at container lines
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| FEBRUARY 23, 2005 |
- Fears ease concerning tsunami's impact on shipping lanes
December's disaster altered the depth of the sea by more than 30 feet but not enough to interfere with shipping as initially feared.
- UPS chief pushes global trade promotion
- Another merger for Yellow?
- Osprey Line launches weekly service to New Orleans
- Germany plans massive expansion at Port of Hamburg
- United Airlines to expand Asia services
- 3 nations reject plan to ban fishing subsidies
- St. Lawrence Seaway to reopen March 25
- Kansas City Southern promotes 3
- Cargo volume soars at Dragonair
- CMA CGM launches rail shuttle
- BNSF warns of delays in Southeast
- Indian dockworkers defy court order, continue slowdown
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| FEBRUARY 23, 2005 |
- Industrial action looms over Durban
Durban container stevedores began striking today, as wage negotiations broke down, and more widespread action during the next few weeks is expected to bring the port to a standstill.
- MSC and Maersk fix new Australia-S Africa/ECNA arrangements
Mediterranean Shipping Company’s (MSC) massive Australasian service re-organisation has been resolved, with MSC, Maersk Sealand and subsidiary Safmarine revealing new arrangements for trades between Australia, South Africa (SA) and then ECNA.
- Charter index breaches 2,000 points, as post-CNY market wakes up
- Cosco focuses on Central America
- UK gauge-work prompts new rail service, but others are waiting to go
- Private sector to operate Delhi-Mumbai corridor
- Arica added to Alianca’s Andes
- ‘Window of opportunity is now,’ says Oakland, in race to minus 50ft
- Macandrews takes aim at UK and Ireland, with Spanish fruit and veg
- Korean crane-makers strive to beat all foreign comers
- Boost for Australian meat exports to China
- Namsung to launch Korea/China/Japan pendulum service
- DPI completes CSXWT acquisition
- Regional Container Lines reports stellar intra-regional year
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| FEBRUARY 23, 2005 |
- Ship Finance going dry
Tom Jebsen says Ship Finance International is eyeing dry-bulk purchases.
- Genmar beats estimates
New York tanker company doesn't address Frontline interest in announcing second year of record earnings.
- Dividends on hold
Niels G Stolt-Nielsen says investments have to come first.
- Ship Finance tops dividend target
Spinoff will pay investors $1.55 per share after Frontline profit-divide surpasses expectations.
- Chemical reaction swells Stolt
Contracts of affreightment are already booming in 2005, says Stolt-Nielsen.
- RCCL creates new posts
Divergence of Royal Caribbean and Celebrity brands prompts new appointments.
- Goodbye Oslo
Tsakos' listed tanker owning company TEN to delist in Norway citing unjustifiable cost.
- Stolt-Nielsen pockets $75m
Rates rise and offshore losses disappear as chemical tanker group enjoys a return to profit.
- MBC banks a bundle
Malaysian bulker owner benefits from strong Chinese demand to post bigger 2004 profit.
- Excel takes Isminaki
D’Amato will charter vessel for two years at $31,250 per day.
- Mangalia eyes more boxships
Daewoo’s Romanian outpost linked to another order from Germany’s Gebab.
- Cash cow for Greece
Greek shipping contributed EUR 13.3bn to the country’s foreign earnings in 2004.
- Chapter 12 for Trico?
Company prepares to emerge from bankruptcy protection with new loan.
- German ship stuck in ice
Harren cargoship being helped by Russian ice-class tanker in Sea of Okhotsk.
- Frontline makes $1bn
John Fredriksen’s listed tanker operation posts record fourth quarter and full-year results.
- HSH Nordbank poaches banker
Shipfinance giant hires exec from competitor to head up new investment banking operation.
- Suez Canal back to normal
Traffic has returned to Egyptian waterway after grounding of Seyang bulker on Saturday.
- DSME receives giant order
Korean yard group to build FPSO worth $996m for ChevronTexaco.
- Labroy piles on the profits
Singapore owner and yard group sees massive jump in net income on the back of newbuilding surge.
- Essar linked to Golar ship
Indian owner pursues tonnage for Shell's Hazira shipments but no deal in evidence as yet.
- Frontline may look elsewhere
Tanker giant says it may sell Genmar stake if no progress is made on consolidation discussions.
- Great Eastern adds handymax
Indian owner picks up 1997-built bulker to lower average age of its dry cargo fleet.
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| FEBRUARY 23, 2005 |
- Frontline nets $1 billion in tanker profits
- Osprey Line starts third service to New Orleans
- U.S. cargo carriers poised to receive extra China flights
- U.S. carrier group backs uniform chassis rules
- St. Lawrence Seaway to accept vessel traffic next month
- Maersk: Terminals, railroads will tighten demurrage rules
- U.S. chamber enters cooperative agreement with two EU chambers
- Dubai Ports completes takeover of CSX World Terminals
- Port of Seattle boosts box traffic, plans more growth
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| FEBRUARY 23, 2005 |
- Consafe to the Oslo exchange
Consafe Offshore, a subsidiary to Göteborg-based JCE Group, will be listed on the Oslo Exchange. A private placement that ...
- Coastal Express operators in cash squeeze
The two operators of the Coastal Express from Bergen to Kirkenes – Troms Fylkes Dampskibsselskap (TFDS) and Ofotens and Vesteraalens Dampskibsselskap ...
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