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| AUGUST 26, 2005 |
Shipping News
- AP Moeller 1st half profit up 5.6% to a record
AP Moeller-Maersk A/S, the world's largest shipowner and Denmark's No 1 oil company, said first-half profit rose 5.6 per cent to a record as it increased the amount charged for space on its vessels and as crude prices surged.
- Evergreen Marine may post 8th quarterly profit
EVERGREEN Marine Corp, Asia's largest container shipper, may have its eighth straight quarterly profit on higher demand for the transport of Asia-made goods from US retailers such as Wal-Mart Stores Inc.
- PTP boss' next task: developing Senai airport
THE former civil servant who guided the development of Malaysia's fledgling port at Pelepas into one of Asia's top emerging container ports has now been asked to move full time into developing the airport at Senai into a cargo and passenger hub.
- Hutchison Port's 1st half profit rises 18%
Admiralty Casebook
- No compensation for ship detained in Canada
CANADA's Federal Court of Appeal has reversed a decision ordering the Canadian government to pay the owners of a Malaysian bulk carrier almost C$6 million in damages and interests for detaining the vessel for more than four months.
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| AUGUST 26, 2005 |
- Hyundai net income up 35.9 per cent in first half
- Shanghai, Shenzhen ports experience robust throughput growth in H1
- Yellow Roadway extends exchange offer
- Retailers put pressure on EU to release blocked Chinese garments
- Panalpina consolidated net earnings grow 22pc in H1
- Globe Express to expand operations to Port Klang
- Large DC under construction at Port of Rotterdam
- Qantas to increase fuel surcharge
- Continental Airlines vies for Argentina market
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| AUGUST 26, 2005 |
- PM steps on the gas for liberal LNG import policy
- Cabinet to decide CIWTC fate-Baalu
- Freight rates fuelled by crude price fever
- Safmarine continues expansion drive
- Exim Bank loan to Congo
- Coffee Board brews strategy to recapture Russian market
- Pak finds Indian sugar price too high
- Pakistan, Bangladesh lift entry bars to boost India’s garlic exports
- NHAI, JNPT looking into road transporters’ demands
- JNPT gives better deal to PAP contract workers
- Vallarpadam-Edappally railway link being given top priority
- Chennai-based Sherif & Sons sets new trend
- CONCOR’s ICD-Guwahati goes ‘green’
- GDL plans to expand reach
- Govt sinks ceramic tile exports by lowering BCD on Chinese goods
- Centre giving priority to revival of handloom industry, says Minister
- ECGC settles claims of 3 jewellery exporters
- India still working on formula to bring Asean region under FTA
- Trade groups set up
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| AUGUST 25, 2005 |
- Four finalists for the Young International Freight Forwarder of the Year Award
- Ukraine builds new Black Sea port
- Joint flights by TAP Portugal and United
- Fourteen potential buyers for Slovakian freight railway
- New Birmingham hub for Kuehne + Nagel
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| AUGUST 25, 2005 |
- Ship Finance seeks more deals
- Strong N Sea market boosts Farstad
- ABS warns on shorebased emergency support for tankers
- Seasick passenger makes waves
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| AUGUST 25, 2005 |
- Successful tests for six-cylinder RTflex 50 diesels
- Navy takes wraps off electric ship demonstrator
- Todd Pacific wins NOAA conversion contract
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| AUGUST 25, 2005 |
- Port of Seattle marinas earn EnviroStar ratings
- Grand Alliance eyes changes with exit of P&O Nedlloyd
- Giant Union Pacific Locomotive set for tour of Northwest
- NOAA selects Todd Shipyards for research ship conversion
- Department of Homeland Security supports U.S. college students
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| AUGUST 26, 2005 |
- Fury as Japanese insurers slap on Malacca Strait premium
JAPANESE shipowners are reeling from a decision by the country’s main non-life insurance companies to levy an unconfirmed $250-a-voyage premium on vessels using the Malacca Strait.
- Kvaerner downplays UK pension anxiety
NORWEGIAN management that took over the Kvaerner Pension Fund as part of the £1m ($1.8m) deal yesterday sought to ease mounting concerns among 32,000 British members over the future of their pensions, writes Jerry Frank.
- Box shipping boosts Maersk results
CONTAINER shipping giant AP MØller-Maersk would welcome further industry consolidation but has no immediate plans to tackle another acquisition project as it embarks on the challenge of integrating P&O Nedlloyd into its network.
- Passengers flown home after fire-hit cruise is cancelled
PASSENGERS from the fire-damaged 52,926 gt cruise vessel Costa Classica were flown back to Italy from Athens yesterday after Costa Crociere ended the vessel’s east Mediterranean cruise, writes Nigel Lowry.
- Turkish ro-ro ferry ablaze
An estimated 50 passengers abandoned ship last night after a Turkish ro-ro ferry caught fire off Turkey’s Black Sea coast.
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| AUGUST 25, 2005 |
- Quintana fleet in place
NASDAQ newcomer Quintana Maritime has started with a profitable quarter as it puts the finishing touches to its new bulker fleet
- Explosion on Chinese feeder ship
THREE seamen were seriously injured by an explosion in the engineroom of the 112TEU Chinese feeder vessel Kaiyue on 23 August
- APM raises profit forcast
AP MOLLER-Maersk has raised its 2005 net profit forecast to DK23Bn ($3.8Bn) from Dk20Bn on the back of strong freight rates, current exchange rates and crude oil prices
- Oil prices blown to $68 a barrel
- SFI asserting independence
- Adsteam benefits from UK market
- Brostrom forecasts strong 2H05
- Dreyfus confirms Channel plans
- PetroCaribe takes off
- South Florida ports shut
- Typhoon to hit Tokyo Bay
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| AUGUST 25, 2005 |
- South Florida ports brace for storm
As storm moves in on Miami (left), region's largest ports are closed to vessel traffic; Katrina expected to reach hurricane status before making land.
- Reaction: U.S. needs WTO sugar ruling
- United has $274M July loss
- Rates, volumes push up Maersk profits
- TACA extends suspension of LA congestion fee
- Steel drags Great Lakes cargo
- Panalpina readies IPO
- Rich first half for Hutchison
- Groundbreaking for Wash. rail-barge hub
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| AUGUST 25, 2005 |
- Li Ka-shing: HK lags behind mainland Chinese ports, but Hutchison will stay
Giant port operator Hutchison Whampoa’s chairman Li Ka-shing said today that Hong Kong Port’s growth is lagging behind the mainland Chinese ports, but still possesses some strengths.
- NCC reaches out into Ukraine
National Container Company (NCC) has made its first non-Russian acquisition, with an agreement to invest in Ukraine’s Ilyichevsk Container Terminal (ICT), which was recently put under private management.
- EC discusses elasticity in textile-categories as quotas stretch to their full
- FESCO improves domestic service to Sakhalin
- SYMS makes Australian debut
- Indian government detects irregularities in foreign trade data
- AP Moller-Maersk upgrades full-year forecast
- Yellow Sea Ferry mulls launching container service
- JNP transporters’ boycott continues
- Hanjin to issue W200bn worth of bonds
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| AUGUST 25, 2005 |
- AP Moller builds profit mountain
Danish giant posts suitably huge first-half earnings as boxships perform ahead of Nedlloyd merger.
- Analyst doubts Frontline
Banc of America says tanker giant will have tough time repeating surprisingly strong 2Q earnings fueled by VLCC performance.
- Kenya extends ferry bidding
Tender deadline to build two coastal ships pushed back amid rumoured lack of interest.
- Turkish ferry ablaze in Black Sea
Passengers and crew abandon ship after fire breaks out.
- Crewman dead in blast
Three more men seriously injured in explosion on cargoship off Wenzhou, China.
- DFDS profits dip
Will 6% drop in latest quarter derail company's plans to beat 2004's result?
- ASL earnings jump
Singapore yard and chartering group brings home 36% more bacon.
- New rescue plan for super ship
Japan steps in with bail-out money for troubled Techno-Super Liner project.
- Smit up despite salvage slump
Dutch operator still expects profit leap for full year despite drop in earnings for both salvage and heavy lift activities.
- Orion profitable
Danish shipowner overcomes last year's losses in the wake of ship sales.
- Humpuss on hold
Indonesian owner delays bond issue while it looks at other options to fund fleet expansion.
- 3 Maj still in the red
Croatian shipbuilder’s losses widened slightly in tough first half as costs rose.
- Eidsiva excels on earnings
Norwegian owner’s bigger fleet profits from better charter rates in first half.
- Suez canal revenues up
Transits for July also rise nearly 7%.
- Fire strikes Grimaldi ship
Italian car carrier Grande Spagna suffers a fire in its paint locker after leaving UK repair yard.
- Sado losses deteriorate
First half losses at Japanese ferry operator widen, but full-year results may show modest improvement.
- First profits at Quintana
Newly listed panamax bulker player makes $744,195 in the first three months running up to its IPO.
- Singapore box numbers jump
Lion Republic’s two terminal operators see healthy increase in January to July container throughput.
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| AUGUST 25, 2005 |
- Wallenius Wilhelmsen starts South Africa/Europe service
- Hatsu starts two Ireland/continental Europe loops
- NYK names Peluso head of new public affairs department
- Malaysia Airlines posts net loss of $74.4 million in first quarter
- Air Bridge leases 747
- CSX train derails in New York
- Integrators, shippers groups support FMC’s amended NVO rule
- Globe Express to open Port Kelang office
- Canadian transport minister leads delegation to China
- FKI Logistex appoints Zahler director of projects
- City of Long Beach decides to wait on LNG environmental review
- Port of Baltimore auto processor expanding terminal
- Katrina limiting activities at South Florida ports
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| AUGUST 25, 2005 |
- Expectations up in Maersk after first half result
A.P. Møller-Mærsk A/S came out of the first half of 2005 better than expected. Also the forecast for ...
- Stena Bulk close to half a billion
The half year result of Stena Bulk was close to SEK 500 million (EUR 53.6 million), and according to CEO ...
- Poorer results from Frontline
Frontline posted net income of USD 127.5 million in the second quarter and USD 407.2 million for the first half ...
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| AUGUST 25, 2005 |
- Additives companies test new marine fuel products
Marine fuel additives offer cleaner combustion and better fuel efficiency, and North American companies are getting on board.
- Tropical storm closes Florida ports, bunker offices
Ports in Florida shut down today and bunker suppliers closed offices as Tropical Storm Katrina threatened the region.
- Russia to review oil export taxes this year
Oil export taxes to reach fresh record highs, but new assessment mechanism will see changes in export duties.
- New broker and chartering firm opens in Italy
After seven years in London, two former Anderson Hughes employees return home and set up new business.
- Fujairah supplier's London branch closed
Declining bunker market activity and change of focus make London representative redundant.
- EIA: Crude cushion could ease price pressure this winter
Crude prices at record highs despite counter-seasonal US stock build, which bodes well for winter supply.
- Lubricants: Oronite admits force majeure
A lubricant additives supplier has declared force majeure and admits that it will not be able to meet demand for several months.
- Rotterdam firm this morning
- Singapore: Residual fuel stocks up, middle distillates down
- SK Energy seeks greater role in bunkering
Singapore-based SK Energy Asia aims to focus more on bunkering and triple its fuel oil trading.
- Crude surges to record high in New York
Crude oil prices touched a record level in New York due to supply fears being elevated by storms in the Gulf of Mexico.
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