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| AUGUST 25, 2005 |
Shipping News
- NOL is left standing on the dance floor: analysts
A wave of industry consolidation has left Neptune Orient Lines 'standing on the dance floor' without a suitable merger and acquisition partner, according to analysts who say the Singapore line could itself be an acquisition target.
- AP Moeller may turn in record H1 earnings
AP Moeller-Maersk A/S, the world's largest ship operator, may post record first-half profit on rising shipping rates and crude oil prices.
- Frontline Q2 profit falls 25% on lower freight rates
FRONTLINE Ltd, the world's biggest oil-tanker company by capacity, said second-quarter profit fell 25 per cent on declining freight rates as the global tanker fleet grew faster than transport demand.
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| AUGUST 25, 2005 |
- European Commission approves NYK Reefers, Lauritzen JV
- Study reveals garment exports from China to level off in H2
- Yang Ming forms terminal alliance with "K"-Line, Hanjin, PSA-HNN
- CP Ships ratings placed on CreditWatch by S&P's
- GPA's Savannah and Brunswick ports achieve gains in July
- RAO appoints new head of Dry Tramp Shipping
- Sinoair H1 net profit up at CNY241m
- TNT Express picks up its first 757 while AirBridge gets third 747
- S&P's puts Northwest Airlines ratings on CreditWatch negative
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| AUGUST 25, 2005 |
- Asean shipowners send SOS to review Malacca Strait war risk rating
- Higher premiums feared
- Trade with Russia, US, China & UK expanding
- Dubai to be major platform for Indian handicrafts display
- Pak agrees to include more items in positive list for imports from India
- Road traffic to/from JNP comes down to a trickle
- Tuna port to be KPT’s multi-purpose satellite port
- Port & dock workers to get 16 pc interim bonus
- Asia freight rates rebound on tight ship supply
- Share of manufactured goods in exports rises to 70 pc-Kamal Nath
- India yet to exploit quota-free textile exports to US-Ficci study
- They’re spinning a yarn about dumping duty, FIASWI tells PM
- Ministry identifying steel items for inclusion in ‘sensitive list’ under SAFTA
- Much ado about small change
- CII to take up 7 more SMEs cluster projects in South by April 2006
- Dahej being put on fast-track road to industrial growth
- Seafood industry swimming on hopes
- GIFT rated 2nd Best International Business School in India
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| AUGUST 24, 2005 |
- Eurotunnel names operating director
- Combi Line Interantional takes over Siamar
- Swissport sold to Spanish group
- Steep increase in traffic on the North Sea-Baltic Sea canal
- Karinca International and Geologistics sign strategic partnership agreement
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| AUGUST 24, 2005 |
- Frontline’s Q2 results lower but first half still a record
- Indonesian navy holds Croatian ship
- EC okays LauritzenCool/NYK Reefers merger
- Odfjell report strong first half but takes legal hit
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| AUGUST 24, 2005 |
- BRAC spares New London sub base, Portsmouth Naval Shipyard
- K-Sea to acquire Sea Coast towing
- Australia issues rescue guidelines
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| AUGUST 24, 2005 |
- Weyerhaeuser moving operations to Port of Olympia property
- Panama Canal releases third quarter metrics
- Port of Everett hires three security officers
- Hamburg Süd expanding Brazil service rotation
- Concourse Connector completed at Portland International Airport
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| AUGUST 25, 2005 |
- Protest threat forces Brussels to water down ports directive
THE European Parliament will attempt to water down a proposed directive on port services following protests from industry, MEPs and trade unionists, a draft report shows.
- CP Ships counterbid rumours
RUMOURS persist in the German shipping and ship financing markets that CMA CGM will make a counterbid for control of CP Ships.
- Odfjell takes $110m hit as antitrust payments mount
NORWAY’S parcel tanker price-fixing scandal continues to blot cartel members’ books, with Odfjell’s total bill for its involvement now exceeding $110m following a swathe of US antitrust settlements.
- Cruiseship fire sparks major alert
A SMALL fire sparked a major coastguard alert in Greece when it broke out on 52,926 gt Italian cruiseship Costa Classica, pictured above, writes Sandra Speares and Nigel Lowry.
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| AUGUST 24, 2005 |
- US revises fuel efficiency rules
THE Bush Administration has announced significant revisions to US vehicle fuel efficiency standards, a policy of central concern to US oil demand forecasts
- India cries foul over oil deal
INDIA'S Oil and Natural Gas Corp (ONGC) wants to contest the Petrokazakhstan takeover deal by its rival China National Petroleum Corp (CNPC)
- Indonesia ‘storms’ Croatian log ship
INDONESIAN authorities are still detaining a Croatian general cargo vessel and 25 crew members, as diplomats struggle to secure their release
- Genco expansion begins
NEWLY-public bulk operator Genco Shipping & Trading is swiftly making good on its expansion plans, announcing the purchase of a Handymax from Western Bulk yesterday
- Fire aboard cruise ship off Greece
- Migrant Watch: US/Caribbean
- California supports emission limits
- K-Sea grows Jones Act stake
- No bidding war for CP Ships
- Underlying raise for Odfjell
- BHP Billiton makes record profit
- NEL vs Pielstick
- Navios buy gets approval
- Frontline suffers from soft rates
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| AUGUST 24, 2005 |
- Canada may penalize U.S. exports
Ottawa may impose retaliatory tariffs on some U.S. goods after Washington ignores NAFTA panel ruling in lumber trade dispute.
- U.S. wins Mexico sugar tax ruling
- Hurricane watch for S. Fla. ports
- Walker takes Pensacola port helm
- Soaring diesel halts trucks: CTA
- Yangming profit increases
- Safmarine taps new markets
- LA-Long Beach cuts emissions
- "K" Line program offers shippers supply-chain visibility
- Hub sets $45M buyback
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| AUGUST 24, 2005 |
- Danske: APMM ‘fair value target’ reached, while risks gather
Danske Equities have urged investor caution on the eve of AP Moller-Maersk’s (APMM) interims, saying the ‘fair value target’ had been reached, amid oil-price, rate, US dollar and other concerns.
- Road levy sparks JN Port transporters’ boycott
A road-access levy at Jawharlal Nehru Port (JNP) has sparked an ‘indefinite’ boycott by transport operators and their organisations, disrupting cargo-movement at the already congested container terminals.
- Supply scarcity fails to boost sentiment on mid to larger charter sizes
- Danske Equities: Maersk deal better placed than TUI/Hapag-Lloyd in consolidation
- Swiss rail still in trouble after floods, while Upper Rhine shipping normalises
- Singamas: demand for containers ‘back to normal’ in H2
- Owners oppose Australian salvage levy
- Russia and Belarus sign agreement around Pan-European axis
- PTP changes CEOs
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| AUGUST 24, 2005 |
- K-Sea goes bicoastal
The Saltchuk Group’s sale of a subsidiary has opened a US horizon for stocklisted tank-barge operator K-Sea.
- Ship Finance seeks new managers
Company strives for greater distance from Frontline as it unveils slight drop in profits.
- Reefer rebound for Green
Better refrigerated ship markets mean more money for Norwegian owner.
- Flat Finnish figures
Profitable ESL Shipping continues to buoy up Finland's Aspo Group but the bulker owner's first half is marking time.
- Jinhui rebounds from FFA crisis
Bulker owner posts strong set of results after last year's freight forward losses.
- Lasco levers up profit
Latvian owner’s products tanker fleet still bringing in the cash in first half.
- Antitrust costs hammer Odfjell
Second quarter numbers take a dive after settlements total $24m, though company still up at the half-way mark.
- Cruiseship fire extinguished
No one hurt in small blaze in stern of Costa Classica off Greece.
- Sasebo slips
Japanese shipbuilder sees first quarter profit slump, despite revenues holding firm.
- Legal eagle joins Oetker
Rudiger Sommer steps down as head of dry tramp after celebrating silver jubilee.
- Frontline dips in second quarter
Norwegian tanker giant’s April-June earnings fall in line with spot markets, but it still managed a record six-month result.
- Brostrom on right track
Swedish chemical tanker owner builds profit in first half, if 2004’s tonnage tax gains excluded from result.
- Ezra splashes the cash
Singapore owner orders $25m heavy lift accommodation pipelay vessel at domestic shipbuilder.
- TUI rules out bidding war
German group remains "optimistic" about $2bn offer for CP Ships, but analysts remain to be convinced.
- NOL left in the lurch
Analyst says P&O Nedlloyd and CP Ships deals leave Singapore liner operator facing solitary future.
- Genco adds bulker
Peter Georgiopoulos’ recently listed bulker arm acquires 2001-built handymax for $34.5m.
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| AUGUST 24, 2005 |
- China Shipping's net profits up 40.1%, plans container-related expansion
- Hyundai's first half profits up 35.9%, cautious about industry prospects
- Long-term freight rates to rise for LPG carrier fleet, report says
- Hamburg Sud adds call at Paranagua
- Samskip opens office in Vietnam
- Hamburg Sud names Vespermann to head dry tramp shipping
- BAX Global starts Economy service for shippers
- Democrats press DHS for air cargo rules
- ACI forecasts 5.4% growth in air cargo
- Pilot Air Freight says enhanced services driving growth
- Sterling Transport names marketing director
- USDA proposes to ease import restrictions on Argentine poultry
- Port of Olympia signs Weyerhaeuser
- Long Beach Congressman decries local attempts to stop LNG terminal
- Port of Tanjung Pelepas names Johari CEO
- Georgia ports post 19 percent growth in July
- Federal Railroad Administration makes $1 million crane grant
- Virginia Port Authority and terminals give money to find truckers
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| AUGUST 24, 2005 |
- Broström reports best operating result ever
The Broström strategy where the chartering always consists of 50-60 per cent COAs, continues to be successful and the ...
- Better profit and more ships for "Norden"
Dampskibsselskabet "Norden" reports an improved profit for the first half of 2005. The USD 167 million profit included USD 27 ...
- Samskip opens office in Vietnam
Icelanders know ice and fish and Icelandic Samskip's activities grows substantially in Asia where a fourth office now opens ...
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| AUGUST 24, 2005 |
- K-Sea extends barging reach to US West Coast
New York-based barging company buys Sea Coast Towing, becoming the US's largest tank barge operator company claims.
- Resupply disrupted in Ecuador
Unrest in the country's oil producing region finally hits the bunker market as refinery struggles to keep up production.
- DOE & API at a glance: This week's US inventory reports
- Lubricants: US base oil prices on the rise...again
Base oil prices in the United States are set to rise across the board again this week, the sixth round of hikes in as many months.
- Kenyans lament continued use of single-hull tankers
Fears of oil spill as single-hull tanker unloads crude oil at Mombasa, but is it a breach of MARPOL ban?
- Lube producers at pains to stress value to shipowners
Escalating costs, leaner supply chains and rising demand prompt marine lubricant suppliers to stress the value of their products.
- Loading congestion in steady Rotterdam
- Malaysia: Shell executive to take over at PTP
The departure of the Port of Tanjung Pelepas' chief executive officer will not disrupt the Malaysian government's plan to develop a petroleum hub at the port.
- High oil prices put pressure on OPEC
OPEC is under pressure to produce oil at full capacity on expectations of oil prices remaining high.
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