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| AUGUST 7, 2006 |
Shipping News
- Orient Overseas may raise about US$1b selling ports
ORIENT Overseas Ltd, Hong Kong's No 3 container shipping line, may raise about US$1 billion selling ports in North America, taking advantage of rising prices, three sources familiar with the plan said.
- Posco says it's interested in buying Daewoo Shipbuilding
POSCO, the world's fourth-biggest steelmaker, said it's interested in Daewoo Shipbuilding & Marine Engineering Co, the world's second-largest shipbuilder.
- Japanese shipping lines Mitsui, K-Line cut forecasts
MITSUI OSK Lines Ltd and Kawasaki Kisen Kaisha Ltd, Japan's second- and third-biggest shipping lines, cut their profit forecasts after rising fuel prices and falling container rates reduced first-quarter net income.
- Beijing-Shenzhen train line expected in 2010
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| AUGUST 7, 2006 |
- MOL, NYK report net profit drops in Q1
- Rate restoration to be implemented on West Africa trade
- INTTRA establishes office in South Korea
- Yangtze River mouth set for more deepening
- Houston Aviation Bureau to jointly develop logistics hub at Dalian Airport
- FedEx Express, USPS sign new mail deal worth US$8b
- Atlas repays US$141m debt in cash
- World Air Holdings Q1 net profit down 64.6 per cent
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| AUGUST 7, 2006 |
- Gandhidham Chamber hosting major maritime meet in Sept.
- Essar Shipping’s income up by 24 pc
- All Allcargo regional offices receive stamp of ISO 9001:2000 certification
- Govt finally slams ports’ doors on Chinese firms
- For Ambanis, logistics makes sound business sense now
- Lalu puts up red signal for private financing of rail freight corridors
- CONCOR & NSCSA flag off 1st dedicated box rake from ICD-Mandideep to Mumbai Port
- Move to relax NFE norms for EOUs
- Foreign Trade Policy Analysis: Current Trends
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| AUGUST 7, 2006 |
- Norfolk Southern names Thelen and Heilig to operations positions
- Wallenius newbuildings ahead on environmental protection
- United announces 40 additional weekly US flights
- SBB Cargo in Karlsruhe and Singen
- 3i acquires ABX Logistics from SNCB
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| AUGUST 4, 2006 |
- EC report approves government spending on transport security
- Jurong to build African offshore supply base
- K Line’s revenue up, profits down
- MOL lowers FY2006 forecast
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| AUGUST 5, 2006 |
- Security vulnerabilities in TWIC plan
- COSCO wins first FSO contracts
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| AUGUST 7, 2006 |
- Morgan Stanley makes first dry physical foray
MORGAN Stanley has moved to cash in on positive dry bulk markets, placing its first enquiry for a period panamax.
- Shipyards unable to cope with Greeks’ bulk fleet ambitions
BROKERS are painting a picture of increasing frustration among dry bulk shipowners unable to secure berths for lucrative construction projects in what is otherwise emerging as an active summer for shipbuilding contracts.
- Costa Crociere launches Fincantieri-built Serena
COSTA Crociere’s newest flagship, the 112,000 gt Costa Serena, was officially launched in Genoa on Friday at Fincantieri’s Sestri Ponente yard, writes John McLaughlin.
- Demand for new criteria on lifeboats
A CALL for a radical overhaul of design criteria and operational practices for ships’ lifeboats, which continue to kill and injure seafarers involved in drills, has come from the Nautical Institute.
- Sohmen-Pao says BW will seek growth through industry consolidation
SHIPOWNING giant BW Group continues to look for expansion opportunities across all the sectors in which it operates.
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| AUGUST 4, 2006 |
- Vancouver dock up for sale
FRASER Surrey Dock, Vancouver, has confirmed that its break-bulk and container handling terminal on the Fraser River is up for sale
- Connaughton confirmed as MarAd chief
THE US Senate has confirmed Sean Connaughton as the country's new maritime administrator, and he will assume office on taking the oath
- US Justice gives Stolt a break
STOLT-Nielsen Transportation has won a postponement of potential federal indictments as a US judge refers the case to a court that will not meet until October
- Top hit by expenses
TOP Tankers' shares fell 12% yesterday in heavy trading after the company announced larger-than-expected losses in its second quarter
- WFP secures fuel shipments into Lebanon
- Engineers charged with oil dumping
- Weather hampers Cougar salvage
- Wärtsilä on high revs
- Codelco rides out the landslide
- Severe weather warnings reduced
- Antares negotiations continue
- NYK slashes full year forecast
- APM to build box terminal in Vietnam
- Typhoon blows away containers
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| AUGUST 4, 2006 |
- Charleston containers edge higher
Record container volume of 1.98 million TEUs in the fiscal year ended June 30 was only 0.4 percent more than 1.97 million TEUs in 2005.
- NIT League rejects liners’ EC proposals
- Connaughton confirmed by Senate as Marad chief
- NYK slashes outlook
- OOCL sees weaker per-TEU revenue
- Halifax to meet goals despite flat container growth
- Domestic air volume falls
- E.R. Schiffahrt adds 8,200-TEU ship
- Salvage of Cougar Ace clouded by weather
- Uruguay port approved
- Atlas to pay off debt
- MOL to use solar power at Japanese terminal
- Independent drivers oppose plan for Mexican trucks
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| AUGUST 4, 2006 |
- Australia retains liner shipping's antitrust exemption
Australia is to retain liner shipping's exemptions from anti-competitive legislation but will no longer permit the registration of discussion agreements.
- Court rejects Chittagong feeders surcharge appeal
The appellate division of the Bangladesh Supreme Court restrained feeder operators from realising congestion surcharges in Chittagong until the High Court disposes of writs filed by port users.
- NYK follows fellows to slash full-year outlook
- OOIL H1 profits fall 9%
- Russian rail fails to keep pace with Russian maritime box-growth
- Strong response to OOIL terminal sale
- Active terminals market could see Fraser Surrey sale by end of 2006
- Competitors vie for crucial Australian east-west rail paths
- Containers return to Argentina’s Zarate
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| AUGUST 4, 2006 |
- Teekay takes off
Stock reaches highest price since September and analyst says it's just getting warmed up.
- Talk, talk....
...but so far no action despite more market rumours that John Fredriksen is closing in on a deal for Peter Georgiopoulos' General Maritime.
- ECL buys one
Euro Container Line pays $8.8m for 1995-built boxship.
- TEN flags 'outstanding year'
Fleet purchases lead to hike in operating profit for confident Tsakos family.
- Dr Peters' $300m tonic
German KG manager delivers a healthy return to investors in its shipping and real estate funds.
- DryShips takes last P&A units
Pacific & Atlantic of Greece empties fleet with sale of four panamaxes to compatriot DryShips
- OK to Okean
Aker Yards ties up deal to run Ukrainian yard and pushes for 60,000 tonnes of annual output.
- Profits fall again at OOIL
Low rates and high bunker costs drag OOCL results south for the second period running.
- Ships collide off Japan
Sixteen crew members abandon listing Russian reefer after being hit by Italian general cargo vessel.
- WSF back for four ferries
US state of Washington tries again with tender for new vessels, after legal wrangles delayed previous attempt.
- Engineers charged
Officers of South Korean handysized bulker the latest to face oily water separator accusations.
- Wartsila well oiled
Finninsh engine supplier powers to income growth of 200% in first half as orders keep turning.
- Russia ups Black Sea exports
Good news for aframax owners as volumes through Ukraine ports set to rise in August.
- Sanoyas turns it around
Japanese shipbuilder back in profit despite revenues falling in first quarter.
- Sorry Toei story
Japanese owner Toei Reefer Line slumps to a loss in the first quarter as revenues drift away.
- Cosco Singapore goes offshore
Rapidly expanding repair outfit picks up first FPSO order, plus six hull conversions.
- Kyoei steps it up
Japanese VLCC owner builds earnings and revenues in first quarter.
- New boss for Southeast Asia
AP Moller has announced a new chief executive for its growing Singapore headquartered operation.
- Weather delays salvage
Preparations to begin righting car carrier Cougar Ace have been delayed by limited visibility.
- CMA CGM lends ship
Boxship giant gives unnamed vessel to French government to bring aid into Lebanon.
- NYK costs jump 40%
Japanese owner sees first quarter profits slump 43% on higher bunker costs and other expenses.
- FSL raises $55m
Singapore-based First Ship Lease says it has completed a second round of private equity financing.
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| AUGUST 4, 2006 |
- NIT League condemns ELAA's proposal
- OOIL's first half profits down 9%
- NYK's 1st quarter net profit down 43%
- "Cougar Ace" evacuated to calmer waters
- Senator Lines selects Mat Marine as agent for Switzerland
- DHL to add five Asia Pacific services to New York
- British Airways' first quarter profits up 71%
- Great Wall Airlines adds India to network
- Alaska railroads to issue bonds for rail projects
- U.S. railroads' intermodal volumes up 6.7% in July
- Norfolk Southern to open Shelocta Secondary line
- DHS drops cargo seal proposal for alternative security measures
- USDA makes inspections at overseas meat plants more flexible
- USDA outlines trade assistance program for fiscal 2007
- Temp members round out COAC
- Burkina Faso cleared for AGOA trade benefits
- Port of Rotterdam's first half box growth sluggish
- North Carolina ports report record fiscal year
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| AUGUST 4, 2006 |
- Fuel shortages hit Vancouver
Distillate prices surging as resupply issues impact summer bunkering.
- Ports test new scrubber technology
Emissions 'bonnet' for locomotives may be adopted for ships at berth in California.
- Durban: Fuel oil available from mid-August
Durban fuel oil drought set to end a month after suppliers withdrew from spot market.
- Slow start to 2006 dents Rotterdam port growth
H1 throughput figures from the port point to a mere 2% growth rate this year, though oil product imports continue to grow.
- Bunkers hurt H1 profits at OOIL
Chairman blames poorer overall H1 result on softer container rates and higher oil prices.
- ARA market stable Friday morning
- Nippon Yusen shaves profit forecast on higher oil prices
Increasing fuel costs weighing down earnings at shipping firms.
- Bunkering facilities set to compete with global markets
Indian port to offer bunkering to international customers in Special Economic Zone.
- New Zealand: Fuel oil spill at Nelson harbour
- Hong Kong: Heavy barge congestion as typhoon passes
Bunkering was briefly disrupted yesterday due to typhoon Prapiroon.
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