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| JANUARY 26, 2005 |
Shipping News
- Sembawang Kimtrans to invest in Indonesia's coal logistics
MAINBOARD-listed Sembawang Kimtrans Ltd is investing nearly $55 million in Indonesia's fast growing coal logistics business as the sector is expected to be a key growth engine for the company, SKL executives said yesterday.
- S'pore to adopt convention that offers higher maritime claims
SINGAPORE is adopting a maritime convention which provides for a higher level of compensation in claims and which will also enhance its attractiveness as a centre for maritime law and arbitration.
- Cosco Pacific plans US$718m expansion: reports
COSCO Pacific Ltd, a port-operating unit of China's largest shipping company, will spend US$718 million this year to invest in ports and buy containers as it seeks to expand, analysts said.
- SembLog to set up Philippine venture
Strait Talk
- Tough year ahead for P&I clubs
WHILE Jan 1 or the Chinese New Year may mark the passing of the years for most of us, the practitioners of marine liability insurance take most notice of Feb 20.
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| JANUARY 26, 2005 |
- Modern Terminals throughput rises 10pc in 2004
- OOCL enters JV to develop 5 berths at Ningbo port
- Yantai port box handling up in 2004
- Hyundai wins US$800m in newbuild orders, including world's largest
- NOL records 37pc increase in FEU over performance period
- HPH agrees to convert terminal with Ningbo Port Group
- JAL to increase cargo flights in 2005
- Korean Air obtains IOSA certification
- Lufthansa and TAP Air Portugal to code-share from February
- Continental to offer New York to Guayaquil service
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| JANUARY 25, 2005 |
- New Panama storage terminal attracting attention
Terminal operator Petroport tells Bunkerworld that its 700,000 barrel facility in Cristobal could be supplemented by future projects in Panama.
- Martek near launch of marine emission control system
Martek Marine set to launch on-board emission control equipment that should facilitate Marpol Annex VI compliance on NOx and deliver fuel savings. The system can also be configured to measure SOx emissions.
- Hong Kong's earliest dates pushed into February
Strong demand puts strain on limited product stocks and barges.
- EMSA offers cash for capacity to barge operators
The EU's European Maritime Safety Agency (EMSA) has called on bunker barge operators, among others, to enlist a fleet of emergency spill response vessels in four regions.
- Singapore to accede to liability limitation convention
The MPA has said that Singapore will accede to the International Convention on Limitation of Liability for Maritime Claims (LLMC), 1976.
- Fujairah: ADNOC withdrawal could be only temporary
Sources at ADNOC have said the company will be out of the Fujairah market until the company is able to fully commit to its bunker operations.
- Crude, bunkers hit long-term highs amid report of OPEC cut
Reports of OPEC output cut of 800,000 bpd and cold snap in US Northeast send oil and bunker prices to long-term highs.
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| JANUARY 25, 2005 |
- Roadway: New Canadian cross-border shipping tools
- Sale of Richard Lawson Auto Logistics in UK
- Mixed cargo development at Finnish Railways in 2004
- Martinair Cargo second weekly Beirut-Amsterdam flight
- New Istanbul-Novorossiysk container service
- Allan awarded Commander of the Order of the British Empire (CBE)
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| JANUARY 25, 2005 |
- Essar Shipping's revenues up
- Farstad says "too risky" to keep newbuild contracts
- Hamburg Süd and Aliança plug PONL gap
- London wharves to be safeguarded
- Frontline S&P deals
- LR in MISC deal
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| JANUARY 25, 2005 |
- New ASA leadership
- EU meeting on maritime R&D
- Recent Navy contracts
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| JANUARY 26, 2005 |
- Torm plans $250m bulk buy as profits rise
DANISH product tanker and bulk operator Torm is to spend $250m on the addition of six vessels to its fleet, as it revealed strong market conditions will bring higher-than-expected results for 2004.
- Cosco lines up spending spree in Hong Kong
COSCO is mustering its various corporate divisions into a dress parade centred on Hong Kong, writes Sam Chambers.
- Macao sets date to launch register
MARCH is the latest date set for the roll out of a new shipping register, one that intends to scoop up many of China’s emerging small and medium owners.
- SCI and NITC in Iran-India tanker link
INDIAN national carrier Shipping Corporation of India and the Tehran-based National Iranian Tanker Co have begun negotiations to set up a joint venture, writes Shirish Nadkarni in Mumbai.
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| JANUARY 25, 2005 |
- CATS coughs up
EMBATTLED Canadian American Transportation System will refund $150,000 to customers in the face of a legal threat by New York’s attorney general Eliot Spitzer
- Ship runs aground - crew runs away
A NORTH Korean-flagged general cargo ship ran ashore in heavy weather at Khaldi, south of Beirut, late last night
- UP storm damage finally cleared
UNION Pacific's California rail lines have been restored following this month’s storm damage, but repairs have dealt the key US intermodal operator a heavy financial blow
- Tough year for Eurotunnel
- Brazil triples Alcool exports
- Fred Olsen to upgrade Grand Latino
- California eyes 'free time' cuts
- Iberojet buys Festival's Mistral
- Brostrom adds Nordtank ships
- NUMAST attacks Chamber of Shipping
- Danish Ports announce cargo rise
- Frontline profits from tanker sale
- Brisbane delay for P&O Cruises
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| JANUARY 25, 2005 |
- Hutchinson quits Homeland Security
Number two official at U.S. anti-terror agency plans to step down after being passed over for top job.
- U.S. needs national intermodal policy
Planner says plan needed for ports, railroads and motor carriers to accommodate expected doubling of container volumes over the next decade.
- Seminar: Terminal safety a bottom-line issue
- Chertoff confirmation hearings set
- Intermodal gains for Canadian National earnings
- Charleston sees volume increase
- Record containers for Houston
- Tsunami quiets Malacca pirates
- BNSF powers to record quarter
- CSX earnings fall
- Menlo fuels CNF profit
- Zuniga, Koch named to COAC
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| JANUARY 25, 2005 |
- Contship Italia wants common user rights at VTE
Contship Italia has confirmed that it has bid for the sixth Voltri module but it has also bid to operate a further 550m of quay along with PSA Corp.
- China’s economy surges ahead unchecked in 2004
China’s economy continued to expand during 2004, the National Bureau of Statistics announced today, in spite of attempts by Beijing to cool growth amid fears that the economy could overheat.
- CIMC forecasts a 250% net profit growth
- High labour costs in Hong Kong deminish CEPA benefits
- Yield slips but volumes keep APL revenues up
- GPPL to invest Rs10billion in Pipavav box-terminal
- Exports of high-tech products up 72% in Shanghai
- CMA CGM and CSCL launch new Pacific service
- Norfolk Southern puts chlorine crash costs at $30-40m
- Union Pacific opens last two storm-damaged lines
- Russian Railways to present plans to capitalists of Davos
- Hungry for new capacity, Eurogate posts 7.56% growth
- CSIC ranked top among Chinese yards in new ship orders
- End of works programme at Lisbon’s LISCONT means new-client drive
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| JANUARY 25, 2005 |
- Tug captain missing
Coast Guard scours Mississippi after captain went down with his vessel.
- Sovcomflot to reap $140m windfall
Russian owner selling four suezmax newbuildings to Konig for $320m en bloc.
- Athos I good to go
Holed Tsakos tanker set to sail from Alabama repair yard and resume trading.
- Profit boost for Torm
Danish product carrier owner hikes result by $26m as it buys another 5.5 ships.
- 'No newbuildings on Horizon'
A defensive business plan remains in place behind Horizon Lines' equity offensive, say US financiers.
- Volgotanker accounts thawed
Russian tanker owner wins back bank access to cash in continuing tax bill row.
- Star teams with Westwood
Timber lines hope to grow together by pruning waste on the Pacific.
- TEN buys own shares
Tanker operator will repurchase more than $8m-worth, as stock comes off November high.
- Huge jump for Essar
Indian tanker and bulker owner’s profit soars through third quarter, boosted by red-hot markets.
- Boom time for NSCSA
Saudi VLCC owner reaps reward from strong tanker market in fourth quarter, giving it big annual profit figure.
- Livanos buys again
A week after selling stock in Odfjell, Greek owner maintains strong position with deal for 60,000 A-shares.
- Stolt guns to buyback bonds
Repurchases will be funded by proceeds from sale of Stolt Offshore stake, provided investors agree.
- NOL ends year strongly
Singapore liner firm handled almost 250,000 containers between mid November and the end of 2004.
- KLC coins it
Sixfold profit increase for Korean bulker and LNG carrier owner in 2004.
- S&P deal nets quick profit
Frontline rings up easy gain of $54m on VLCC sistership transaction.
- Profits up at MMM
Larger fleet and an improvement in freight rates help lift figures at Malaysian Merchant Marine.
- Tug and barge recovered
Stolen Indonesian vessels recovered by Malaysian authorities, but nine-man crew still missing.
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| JANUARY 25, 2005 |
- APL's box traffic up 16% in December
- CMA CGM joins China Shipping transpacific link
- China Shipping expands in Asia/Med trade
- Ship master, convicted of being drunk, faces deportation
- FESCO starts Korea/Sakhalin Island shuttle service
- CORRECTION: CMA CGM may enroll more ships under tonnage tax regime
- Continental to start non-stop Newark/Ecuador service in June
- FMCSA takes comments on hours of service changes
- UP suffers 86% fall in 4th quarter earnings
- UP reopens lines, estimates $200 million storm cost
- Norfolk Southern estimates $30 million to $40 million derailment cost
- Cleanup continues on Chicago ship canal
- BNSF changes name of railroad subsidiary
- AISA confirms court challenge of FMC's rule on NSAs
- Bush names Jackson DHS deputy; Hutchinson resigns
- New USDA chief vows to re-start beef trade with Japan
- SAP acquires TomorrowNow
- NIT League, IANA pick E.J. Krause to manage 2 major conferences
- Military Sealift Command boosts efforts for tsunami relief
- Houston scores 1.4 million TEUs, $134 million revenue
- Georgia ports see 11.5% rise in container throughput
- Ports of Indiana wraps up 2004 with 7.6 million tons
- Blood, Seattle port executive, ends 33-year career
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| JANUARY 25, 2005 |
- Fall in Coastal Express pax numbers
The Norwegian Coastal Express, operating between Bergen and Kirkenes, saw passenger numbers fall by 5.o per cent last year ...
- 15 per cent freight increase for Stena Line
Stena Line, including its subsidiary Swedish Scandlines carried 1.6 million freight units last year, up by 15 per cent compared ...
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