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| FEBRUARY 25, 2005 |
Shipping News
- Call for survey of Malacca Straits
A systematic survey of the Malacca Straits should be conducted in the interest of safety of shipping, said the commanding officer of the British hydrographic survey vessel sent to survey the epicentre of the Dec 26 Sumatran earthquake.
- THE EPICENTRE
DATA collected by the HMS Scott from a 45,000 sq km patch of ocean over the earthquake's rupture zone, was processed to create this three- dimensional digital elevation model.
- MISC Q3 earnings rise 64% to record RM1b
MALAYSIA International Shipping Corp , the world's biggest owner of liquefied natural gas tankers, said fiscal third-quarter profit rose 64 per cent to a record as demand pushed freight rates higher and it improved efficiency.
- Marine group Sinwa reports healthy 17% rise in net profit
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Admiralty Casebook
- War clause reduces ship owner's damages claim against charterer
A'war clause' in a time charter agreement has diminished a ship owner's damages claim against a charterer, even though the charterer cancelled the charter well before the start of the second Gulf war in 2003.
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| FEBRUARY 25, 2005 |
- Chiwan container throughput rises in January
- Kerry pays US$46m to do business with Chinese police
- Vinpac receives Class-A licence for Shanghai branch
- Higher AADA bunker surcharges for China-Australia trade
- PHA wins US$150,000 green grant
- Software improves Tacoma terminal efficiency
- Schenker strengthens network with new logistics centre
- Emirates plans to fly to Beijing
- UPS, Continental win tentative go-ahead for more China flights
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| FEBRUARY 25, 2005 |
- Feeder operators impose congestion surcharge on box movements to/from CCT
- StanChart Pvt. Equity to acquire 25 pc stake in ABG Shipyard
- Austrian chamber chief stresses need for closer economic ties with India
- India, Kazakhstan to forge ties in hydrocarbon sector
- Philippines buys 31,000 t of old-crop wheat
- Capital dredging, better port infrastructure need of the hour, says Baalu
- Railways hikes wagon registration fees
- CONCOR’s ICD at Irugur, Coimbatore, declared Customs notified area
- Railways to improve infrastructure facilities for cargo movement
- Warehousing period of capital goods in EOUs extended
- Fieo seeks ex-PM’s help to end I-T Dept’s harassment!
- NFTP suggestions invited by March 4
- Govt to make scrutiny of self-assessed returns part of Central Excise Rules
- FinMin favours 10-year tax holiday for SEZ units
- Ficci allays traders’ fears on VAT
- Indo-Pak JSG forms 2 sub-groups to foster trade
- Excise duty leviable on 65 pc of drug’s declared price
- Plea to classify steel wire rods, wires separately in tariff schedule
- Capexil finds export potential in Jharkhand
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| FEBRUARY 24, 2005 |
- Houston bunker premium returns as Shell backs off
Market sources credit return of regular bunker premium over cargo market to less aggressive sales by Shell, but wonder for how long.
- Oil rollercoaster continues after US oil inventory reports
Market reactions to weekly US oil inventory statistics reflected a mixed set of data which ran partially contra to expectations.
- DOE & API: Latest US oil inventory figures
- Novorossiysk: Bunker Holdings triples capacity with new barge
Fully-owned product tanker set to start operations as bunker barge next month.
- Fresh Yanbu cargo attracts bids from Singapore
First spot cargo on sale from Yanbu refinery since high-sodium debacle attracts several bids from Singapore, where bunker market has yet to recover fully from product shortages.
- Market shrugs off Singapore residual stock draw
Fuel oil stocks still high after significant draw with more cargoes imminent, but arbitrage arrivals seen sloping off next month.
- Rotterdam still firming Thursday morning
- BP onboard with Portland bunkering facility
BP Marine and Portland Bunkers International to collaborate when newly-constructed bunkering facility opens on the English south coast in March, with more services in the pipeline.
- Criminalisation for accidental pollution given go ahead
European parliament vote gives the go-ahead for criminalising accidental pollution of the sea.
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| FEBRUARY 24, 2005 |
- GloMaP.com and e-Logistics form strategic partnership
- FMCSA streamlines motor carrier registration
- Schenker inaugurates new complex in Hungary
- Total UK chooses EWS
- Martinair Cargo: official opening of Johannesburg branch
- Vancouver to expand container handling facilities
- Rob Veltman named new regional director Martinair Cargo
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| FEBRUARY 24, 2005 |
- ITF praises Panama
- Ship Finance
- Stolt-Nielsen in China JV
- KR expands
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| FEBRUARY 24, 2005 |
- Matson to buy Kvaerner Philly box ships
- DD(X) to go to single yard?
- Tax changes boost OSG net
- Hornbeck Offshore revenues soar
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| FEBRUARY 24, 2005 |
- JetBlue Airways coming onboard at Portland International Airport
- Coast Guard plans drill for mass casulties in Astoria
- Marcon wins authority to market surplus UK vessels
- DBE businesses see sales jump at Seattle-Tacoma Airport
- Shipping firm pays fine for damaging coral reef
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| FEBRUARY 25, 2005 |
- Lloyd’s winning battle on falling rates
LLOYD’S has shown itself better placed than many of its competitors in London to fight off downward rates pressure, according to the Association of Lloyd’s Members, which represents much of the private capital in the specialist market.
- Genmar keeps records rolling in
General Maritime, the aframax and suezmax tanker specialist coveted by rival Frontline, has achieved a second consecutive year of record profits after a strong fourth quarter, writes Tony Gray.
- Global trade growth held back by port congestion
PORT congestion is turning into a major impediment to trade and economy, a new study by Drewry Shipping Consultants and HypoVereinsbank’s shipping division has shown.
- DSF eyes world stage as Danish government considers Bill
DENMARK’S re-elected government is poised to push through legislation to restructure shipping mortgage provider Danish Ship Finance and claw back DKr1.6bn ($285m) as settlement of a bond issue dispute dating back to the 1980s.
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| FEBRUARY 24, 2005 |
- EU to criminalise accidents
CRIMINAL penalties for masters and seafarers involved in accidental oil spills look set to become a reality of life at sea within the EU following a vote yesterday at the European Parliament in Strasbourg
- Congestion threatens world economy
GLOBAL bottlenecks at overburdened ports are threatening the growth of world trade, the authors of a new report on port capacity said today
- Ship sales boost Attica results
ATTICA, the Athens-listed ferry group, has reported a 2004 net profit of $33.8M, up 21% on 2003 due to the extraordinary income from the sale of five ships
- Gijon to debut new discharge system
SPAIN’S European Bulk Handling Installation terminal at Gijon is to introduce a fully-automated ship unloading system in July, with implications for dock labour levels
- Gijon to lose all box calls
MAERSK will end its feeder service at the northern Spanish port of Gijon in May, port chairman Fernando Rexach has confirmed
- Seafarers dead in cargo tank
TWO seafarers working on board the crude oil tanker Tassels suffocated on 22 February while the vessel was at a berth in New Mangalore, India
- New LNG terminal in Sicily
- OSG benefits from busy year
- SCI chairman to retire
- Adsteam reports strong half-year
- Nippon agrees to ore price hike
- Boxship rates to continue rising
- Paranagua to invest in cruise
- Dubai completes CSX acquisition
- Port Klang operators may merge
- Alaska ferry critic takes helm
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| FEBRUARY 24, 2005 |
- No let-up for West Coast ports
January began the year the way 2004 ended: with double-digit growth in containerized imports from Asia.
- Canada boosts security spending
The proposal would spend US$181 million on improving marine security, including increased coordination on the Container Security Initiative.
- MSC official slams Port of Baltimore
- UPS to close Dayton air hub
- OSG posts record earnings
- US pledges to help Russia enter WTO
- EU steps up pressure on China
- Ports vulnerable to nuclear threat, report says
- Cosco Pacific expected to post jump in profit
- G-Log posts record revenue, appoints senior VP
- GT Nexus unveils freight-optimization service
- US, EU meet on Airbus-Boeing dispute
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| FEBRUARY 24, 2005 |
- Navy goes to aid of MSC in distress
The Royal Australian Navy (RAN) frigate HMAS Arunta has gone to the assistance of MSC Denisse, which is adrift with a flooded engine-room and only emergency power in the Indian Ocean.
- Pretoria approves port upgrade funds
South Africa’s finance minister Trevor Manuel has approved the funding for improvements to the country’s major ports, including the financing of Durban’s second terminal.
- Cartagena operator acquires rival
- New facility partially operational by year-end in Ningbo
- ICF launches another Sopron hub service
- Taiyoung Shipping to launch Korea/China service
- Seattle and Vancouver growth leads to more longshore jobs
- Ulsan throughput drops 10.3%
- Water flows into Deurganckdok as time passes on Scheldt dredge deal
- Brazilian rail-operator growth going like a train
- Railway man named Russia’s Person of the Year
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| FEBRUARY 24, 2005 |
- Cuba headache
Florida's anti-Castro lobby has persuaded the US Treasury to make trouble for shipping.
- Choosing its spots
Arntzen unveils more-balanced chartering strategy for former Stelmar fleet.
- 'Flattered'
Peter G deflects questions on Frontline approach, role of institutional holders in potential merger.
- OSG sets aside $6m
Morten Arntzen prepares to settle waste-oil probe, but still has $211m in quarterly net income.
- Tax benefit boosted OSG
Tanker owner reversed $77.4m in net deferred tax liabilities to its record income total in 4th quarter.
- MSC ship loses power
Australian navy comes to rescue of boxship adrift off Christmas Island.
- Peter, watch your back!
Institutional shareholders are said to be backing Frontline's Genmar takeover bid.
- Bidcorp becomes Dart Line
South Africans rebrand ro-ro service after taking full control of company.
- Grindrod doubles profit
Strong showing for drybulk unit and explosive fleet expansion generates $95m for company in 2004.
- Contracts curb Brostrom
Strong 2004 profit performance could have been better if Swedish tanker owner had been free to play the spot market in fourth quarter.
- Halim Mazmin profits rise
Malaysian owner overcomes revenue drop with strong profits from ship sales.
- Top seals NYK tanker
US listed tanker owner confirms it is acquiring Japanese owned product tanker Mikom Accord.
- Disposals drive Attica
Greek ferry group boosted by ship sales as Greece to Italy market shrinks.
- Stolt expands in China
Stolt-Nielsen teams up with Shanghai Kingman Container Service in tank container joint venture.
- Pan United hurt by provision
Singapore repairer and builder saw strong fourth quarter, but full-year results subdued by lingering bad debt.
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| FEBRUARY 24, 2005 |
- Hong Kong shippers dismiss second rate hike warning
- RCL posts record financial results
- NSCSA buys share of LPG trader and shipowner
- Chenowith named president of T. Parker Host
- United increases Asia coverage
- Intercontainer-Interfrigo adds Italian intermodal link
- Kansas City Southern promotes three executives
- Panalpina announces new plan for IPO
- Cash payment required before shipping U.S. agriculture goods to Cuba
- Laredo picks up growth in U.S./Mexico trade
- Port of Tampa to buy $15 million 41-acre site
- Fraser River port container volumes up 27%
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| FEBRUARY 24, 2005 |
- Up for Broström despite weak dollar
Göteborg-based tanker operator Broström reports a SEK 305 million (EUR 33.6 million) pre-tax profit for 2004, up by ...
- Employers want to limit union North Sea power
Employers – represented by Norwegian Oil Industry Association (OLF) and Norwegian Shipowners’ Association (NSA) – want to limit the power of the ...
- Organic growth in the Swedish Club
At the P&I renewal on 20 February, the Swedish Club fleet had grown organically by 12 per cent compared ...
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