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| JULY 25, 2005 |
Shipping News
- Volatility still governs tanker and oil markets
TO say that the price of crude oil affects shipping would be stating the obvious but the relationship between the two can be surprisingly complex.
- Gaps in regional bunker prices on the rise
WHILE increased crude oil prices have pushed up the general level of bunker prices since early 2003, another less obvious impact is a marked increase in regional price differences within the bunker market.
- New cruise terminal facilities needed: MPA
NEW world-class cruise terminal facilities must be developed soon if Singapore is to stay ahead of the rapidly developing regional cruise competition, according to the head of the Maritime & Port Authority of Singapore .
- Top US port complex starts fees to ease congestion
- 4 dead, 5 missing in ship collision off Japan
- Pamela's historic visit
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| JULY 25, 2005 |
- Qingdao throughput crosses 100m ton mark earlier
- IBM introduces supply chain outsourcing transformation
- Xinjiang sub-contracting exports surge 330 per cent in the first half
- Swissport, PMSI to provide global cargo security services
- China's foreign trade up 23pc in H1 year-on-year
- NOL, Sun Microsystems launch RFID test centre in Singapore
- Lynden announces new appointments
- Air China orders 20 A330-200s
- Southwest plans move to King County International Airport
- CRS Airline adds three new offices in Spain
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| JULY 25, 2005 |
- A.P. Møller-P&ONL deal closer to approval
- Maritime Trade Practices Act (proposed) Practices? What practices?
- VLCCs sailing towards rosy horizon
- TSA to impose new inland fuel surcharge
- Spices Board to market branded products in US
- CM dedicates 4-laned NH-4B linking JNP to Mumbai-Pune Expressway to nation
- Rlys to sharpen focus on freight issues, set up council
- Baalu launches Delhi-Jaipur vehicle tracking pilot project
- Assocham sees potential to capture 5 pc share of global textile trade
- Sidbi, IL&FS sign pact to facilitate setting up of 25 textile parks
- Kamal Nath calls for raising leather exports to $ 7 bn by 2010
- We’ve laid base for closer Indo-US ties, says departing US commercial attache
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| JULY 25, 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 22, 2005 |
- ITF targets Leonhardt & Blumberg
- Camillo Eitzen in new deals
- Volstad orders at Aker
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| JULY 22, 2005 |
- Fredriksen's SeaDrill takes chunk of Indonesian driller
- Senate panel approves MARAD bill
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| JULY 22, 2005 |
- Airlines propose shift from Sea-Tac to Boeing Field
- Port Angeles port board Oks airport improvement contract
- Port of Everett schedules North Marina meeting
- Tacoma Port Commission Oks revenue bond sale
- Weekly rail freight traffic has its ups and downs
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| JULY 25, 2005 |
- Collision claims four lives off Japan
TWO ships collided in heavy fog off the Japanese Pacific coast in the early hours of Friday morning, killing four Chinese crew.
- K Line seeks global 20-year deal with PSA
K LINE is seeking a long-term contract of up to 20 years with PSA, covering its terminals in Singapore and beyond.
- PSA eyes dedicated car terminal
PSA Singapore is studying whether to build a dedicated automotive terminal to meet growing demands for regional transhipment. Japanese lines are keen to be involved in its management.
- IPOs ‘in deep trouble’ as Golden Energy delays show
THE initial public offering market for shipping companies in the US lies in tatters following Genco Shipping & Trading’s heavily discounted Nasdaq debut, with at least one company, Golden Energy Marine, abruptly delaying its road show.
- Stowaways evade death trap in railway container
THREE illegal immigrants had a narrow escape from a container arriving in the port of Zeebrugge when they managed to call the emergency services in broken Italian to explain that they were trapped in a container on a train that was no longer moving.
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| JULY 22, 2005 |
- Bangladesh to open ferry initiative
BANGLADESH has been chosen as the pilot project in a joint IMO/Interferry initiative to tackle ferry capsizes and sinkings
- PONL price dispute
SHAREHOLDERS representing 54% of the outstanding capital of P&O Nedlloyd disputed the price of at which AP Møller is to buy the company
- Concern over insurance stability
THE threat of aggressive underwriting and a further softening of an already fragile pricing environment are raising concerns at the International Union of Marine Insurance
- Genco raises $247M
GENCO Shipping & Trading will begin trading on the NASDAQ today after consummating its initial public offering at a discounted price of $21/share
- APM sets up $6.5Bn credit line
AP MOLLER-Maersk has signed an agreement for a $6.5Bn revolving credit facility that will replace an existing facility of $2Bn, CFO Jorgen Endell told Fairplay
- Yuan impact on shipping minimal
THE effect of the revaluing of the yuan on shipping and port operations in China will be limited because the revaluation was a 'meagre' 2.1%, a shipping analyst told Fairplay
- Rio Tinto's ore shipments surge
- Indon ports resist VAT pressure
- Puerto Rico port block continues
- Sovcomflot still plans LNG outlet
- New Admiralty bill introduced in India
- Battle lines drawn for Paranagua
- Government talks on PDV order
- Sixth storm born off Bahamas
- Singapore seeks cruise ventures
- Seaspan unveils mammoth IPO
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| JULY 22, 2005 |
- ILWU: PierPass violates labor pact
With off-peak program set to begin Saturday, longshore union accuses marine employers of end-run around new waterfront contract.
- Snag for Maersk-P&O buy
- Columbia Coastal to launch Maine-NY barge service
- Vancouver strike squeezing stores
- Truck strike hits Puerto Rico port
- P&O Nedlloyd: Net to rise 27%
- Tacoma to raise $100 million
- Genco cuts IPO price
- Swiss seek U.S. trade pact
- Seaspan sets share price
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| JULY 22, 2005 |
- Chinese shippers wary of further Renminbi appreciation
China’s manufacturers, carriers and terminal operators consider the Renminbi’s appreciation as a negative factor against exports, but believe that the 2% upward adjustment would not hit the market too severely.
- Malaysian hauliers fear industry collapse
- Puerto Rico truckers’ strike brings country to a standstill
- Seaspan to float boxship business
- PONL executives get rough ride in stormy EGM
- Bangladeshi ministers clash over rail privatisation
- KCR Freight to launch HK/Dongguan through train service
- Manufacturing relocation threatens Busan volumes
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| JULY 22, 2005 |
- See you in September
Victor Restis' Golden Energy and Wexford's Cavan Maritime delay offerings until after Labor Day in face of "tired" shipping IPO market.
- Genco opens on Nasdaq
Company's IPO nets required $230m to keep bank deal intact after Genco ups shares to 11.76 million.
- Navios vote set for 23 August
Angeliki Frangou's $607m takeover of Navios is set for a shareholder vote.
- Leonhardt & Blumberg in ITF campaign
German owner under pressure from unions over containership crews.
- Nymex rolls out new FFA routes
New York exchange will now offer US-Caribbean contracts.
- Smit/Wijs renew marriage vows
Dutch companies committed to 50-50 towing venture as Veldman takes over as head.
- Panam Sol brings relief
Tanker to arrive in drought-stricken Bermuda with country’s first water shipment in 15 years.
- D'Amico doubles up
Paolo and Cesare take home $70m in 2004.
- Ships collide off Japan
Japan launches large rescue operation after accident sinks one ship and leaves eight crew missing.
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| JULY 22, 2005 |
- Crowley adding intermodal equipment
- UPS second quarter net income up 20.5%
- Cargolux opts for Boeing freighters
- Delta Airlines' woes continue with $382 million net loss
- UP net profits soar 47%
- KCS subsidiary gets $50 million loan for improvements
- Senate committee approves new TSA chief
- Pataki, Bloomberg break ground for N.Y.-N.J. ship-to-rail facility
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| JULY 22, 2005 |
- D/S "Norden" gains from the high market
Dampskibsselskabet "Norden" of Copenhagen has once again cashed in on a ship sale. This time it is the product tanker ...
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| JULY 22, 2005 |
- US buyers fail to snag hook despite slipping prices
Quiet trading on the USEC and Gulf Coast sees prices firm slightly, while West Coast keeps a close eye on Asia.
- Environmental groups hail IMO's Annex VI revision promise
Environmental groups today hailed a meeting this week with the IMO as a success after the United Nations body agreed to review air pollution standards for the world's shipping fleet, Bunkerworld has learned.
- Reports: FAL Group buys tanker
Reports today said that FAL Bunkering has bought a 60,000 dwt tanker, but sources at the company could not confirm the purchase.
- Asian fuel oil and crude rebounds after Chinese moves
Benchmark fuel oil prices in Asia rebounded strongly Friday, bolstered by rising crude and Chinese moves that may boost demand for crude and straight-run fuel oil.
- Shipping emission levels worsening despite countermeasures
A newly-published paper claims that international shipping emissions of sulphur dioxide and Nitrogen oxides are expected to increase substantially despite the introduction of countermeasures under MARPOL Annex VI.
- 9,000 dwt Leadership enters Singapore waters
Independent barge operator Hong Lam Marine has brought into Singapore the newly built 9,000 dwt Leadership, the largest double-hulled bunkering tanker in this region.
- Offers/bids wide apart in quiet Rotterdam market
- Torres Straits welcomes newly approved status
Great Barrier Reef's Torres Straits was recognised as a particularly sensitive sea area (PSSA) by the IMO during this week's MEPC meeting.
- China softens rule on single-hull ban
Chinese port authorities are starting to ease the rule implemented on April 5 this year banning single-hulled tankers of more than 20-years-old from entering China's ports.
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