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| FEBRUARY 13, 2006 |
Shipping News
- Japan shipping lines post Q3 profit falls; cut annual forecasts
JAPAN's top three shipping firms have said that a fall in freight rates slashed quarterly profit more than 20 per cent, and surprise cuts in annual forecasts at the two largest firms drove the sector's shares sharply lower.
- 70% of Indians against letting in toxic ship
SEVENTY per cent of Indians are against allowing an asbestos-laden decommissioned French warship to be broken up in India, according to a survey commissioned by the rights group Greenpeace.
- General Maritime sells 9 ships to S'pore's Tanker Pacific
GENERAL Maritime Corp, the second-largest US tanker owner, agreed to sell nine ships to Singapore's Tanker Pacific for US$247.5 million in an effort to reduce the age of its fleet and modernise it.
- Supertanker shortage expected
- Bangladesh truckers call off port strike
- Caribbean tanker rates continue to fall on excess supplies
- Wilh Wilhelmsen's Q4 profit down 64%
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| FEBRUARY 13, 2006 |
- Cosco eyes Greek ports
- ACCC seeks court injunction to prevent Toll takeover of Patrick
- Speed continues to be essence of fashion's supply chain
- Seven Mountain establishes Chinese web site
- MISC joins Inttra
- Largest US LTL carrier drives into China market
- Westport sets box world record of 421 moves in hour
- Ellen MacArthur sails with CMA CGM to Asia
- Air New Zealand to fly daily to San Francisco
- Adam Air considers selling shares to Qantas
- Delta names new chief information officer
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| FEBRUARY 13, 2006 |
- Now, it’s Maersk Line - Pooling strengths with P&O Nedlloyd
- MOL to open BPO facility in Hyderabad
- Fieo urges PM to protect SMEs from dumping of cheaper, substandard goods
- 18th batch of Export Import Workshop to begin on February 25
- NMCC calls for gradual reduction in Customs duties
- ISMA ready to export 5 lakh tonnes of sugar
- Assocham, Serbian Commerce Chamber sign MoU to boost trade
- Soyameal exports up 178 pc in January
- P&O within DP World’s grasp as PSA pulls out
- Cultures from all over India converge at KPT’s mega meet
- KoPT plans major equipment acquisition
- Chennai, Tuticorin Ports get set to handle wheat imports
- New model concession pact to be prepared by law firm
- Container trailer operators to abide by judgment against overloading
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| FEBRUARY 10, 2006 |
- Hellmann Worldwide Logistics appoints new board member
- Bunker costs hit Japanese big three
- Emirates SkyCargo expands services in Russia
- International freight traffic: new contract replaces RIV agreement
- Star Distribution and tts Global Logistics take over Toll Collect’s logistics
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| FEBRUARY 10, 2006 |
- UK and France set to assist in Red Sea inquiry
- PSA gives up bid for P&O
- Schat Harding told to review lifeboat hook design
- Matson boosts ro-ro capacity
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| FEBRUARY 10, 2006 |
- Bollinger books bunkering barge order
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| FEBRUARY 10, 2006 |
- Port of Everett teaming up with city of Mukilteo for quiet zone
- Short-term parking rates going up at Portland International Airport
- Department of Transportation ready to Ok commercial space travel
- Rail freight totals up during January
- Transportation index jumps during month of November
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| FEBRUARY 13, 2006 |
- Containers washed off Maersk ship
DOZENS of containers were swept into the sea from a Maersk ship late last week soon after it left Rotterdam for Hamburg.
- Owners face P&I hike of up to 18.5%
MOST of the world’s merchant shipowners are likely to have to pay just over 6% more towards group reinsurance costs from February 20.
- Genmar has $1bn in kitty for acquisitions
THE $247.5m sale of its nine oil bulk and ore aframaxes to Tanker Pacific — disposal of its final "non-core" assets — will enable General Maritime to "actively look for acquisition opportunities", the Peter Georgiopoulos enterprise has said.
- Baltic wants to buy back 35% of shares
THE Baltic Exchange will buy back up to 35% of its equity at a premium if it receives approval for changes to its rules on share ownership.
- DP World wins P&O takeover battle as PSA backs down
PSA International has pulled out of the bidding war for P&O, leaving the way clear for Dubai’s DP World to become the globe’s third largest terminal operator.
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| FEBRUARY 10, 2006 |
- Al-Salam victims 'have right to know'
IMO Secretary General Efthimios Mitropoulos paid a flying visit to Egypt this week to call for full co-operation in the investigation into the sinking of the al-Salam Boccaccio 98
- Matson to upgrade ro-ro capacity
MATSON Navigation has announced plans to convert its boxship Mokihana to a combination container/ro-ro ship and hopes to have it in service by mid-2007
- GenMar sale ends rationalisation
GENERAL Maritime has sold nine 'non-core' Aframax tankers, concluding a rationalisation programme that has cut its fleet in half
- Pecorini hits back for Tirrenia
- MSC opposes Chantiers sale to Aker
- Petroecuador plunges into crisis
- Court allows cruise initiative to proceed
- Spanish yard sale deadline stands
- MSC Crociere challenges Costa
- PSA pulls out of running for P&O
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| FEBRUARY 10, 2006 |
- DP World wins P&O ports bidding
PSA International drops out of takeover battle for P&O, paving the way for rival DP World to proceed with $6.8 billion acquisition.
- U.S. trade deficit mark in 2005
- FedEx economist sees steady global growth in ’06
- Legal Brief: Love Thy Regulator
- Matson adding ro-ro capacity
- Suez Canal reopens
- Hamburg Süd opens Mexico office
- UPS raises dividend
- Union Pacific adding ‘green’ locos for LA railyards
- Hutchison clearance delays Mumbai terminal bids
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| FEBRUARY 10, 2006 |
- P&O returns forced PSAI's retreat
P&O shareholders are expected to approve the 520p/share (US$8.74) offer made by DP World following PSA International’s surprise withdrawal today.
- Patrick finds second solution to troubled joint venture with Toll
Patrick Corporation has found a way to avoid a value-destroying dissolution of Pacific National, its rail joint venture with Toll Holdings, while expanding Patrick’s rail capability.
- Mumbai offshore box-terminal bidding postponed again
- CP Valour cargo claims could reach US$15m
- End of the AuSea Express
- COSCO’s first Asia-Med service to cover Piraeus
- Fowairet resumes active service, after shipyard repairs
- Updated: PSAI withdraws from P&O bidding
- Japanese liners see decline in container business
- P&O shareholders await PSA’s response as bidding war reaches climax
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| FEBRUARY 10, 2006 |
- Jones joins Armada
Shipmanager Saunders Jones is back in business in former employee Bobbi Wolff’s new US-flag venture.
- Frontline quartet
China looks to have given John Fredriksen a sweet price on VLCC newbuildings.
- No divorce at Star
Bergen’s Westfal-Larsens have lost a bid to split Star Shipping with the Griegs and go their own way.
- FMC slashes $4m Sea-Land fine
Polticially appointed US regulators have overridden staff recommendations and cut by 80% a $4m fine against Sea-Land Service.
- Ofer buys Genmar OBOs
Sale of nine aframaxes to Tanker Pacific to cost 55 staff their jobs as Piraeus office is axed.
- George wins 'firm' price
Economou's private operation secures $40.5m for 1992-built aframax.
- Ofer sells Sunshine
But an extra $14.5m will help keep shipowner’s pocket warm
- Singapore concedes P&O
Share price of UK ports group tumbles as Dubai’s $6.8bn bid prevails.
- Cash Callimanopulos
Greece's Trade & Transport continues to buy Spanish-built suezmax tankers.
- Schat-Harding off the hook?
Umoe subsidiary says servicing of equipment implicated in fatal lifeboat fall was done by a third party.
- Blasco fears asset sale
Ukrainian shipowner’s remaining property could be offloaded to pay creditors.
- Fradkov quits Fesco
Russian prime minister Mikhail Fradkov’s son Pyotr has left deputy’s job after 18 months.
- Wartsila gets automated
Finnish marine enginebuilder adds to its portfolio with $74m acquisition of Singapore based Total Automation.
- A good week for Fain
RCCL chief cashes in more stock options to bring his profit tally for the week to $6.5m.
- Crew safe after engine blast
Cambodian-flagged boxship’s 18 seafarers unhurt after incident off Vladivostok.
- Smit smiling
Dutch salvage and towage company is toasting a 40% rise in net profits last year.
- Arpeni thinks big
Indonesian owner sets aside $100m to add 12 vessels to its fleet this year.
- All eyes on PSA
Time fast running out for Singapore port operator in battle for UK ports and ferry group P&O.
- Sanoyas mired in the red
Healthy operating profits are not being turned into bottom-line earnings at Japanese shipbuilder.
- Limburg bomber escapes
Fawaz Al-Rabeei on the run after group of suspected terrorists tunnel out of Yemeni prison.
- Profits drop at Kyoei
More pain for Japanese tanker owner as nine month results show 75% decline from a year ago.
- Reversal of fortunes at Inui
Japanese handysize specialist moves into profit after two consecutive quarters of declines.
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| FEBRUARY 10, 2006 |
- Fuel costs hit "K" LINE results
- MOL says costs mounting in third quarter results
- Matson to convert container ship to ro/ro
- Compromise reached on Heathrow fuel rationing
- EPA considers changes to export reporting requirements
- NIT League surveys trade about C-TPAT
- CDW opens Las Vegas distribution center
- PSA pulls out of bidding for P&O
- Port of Los Angeles sees record increase in on-dock lifts
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| FEBRUARY 10, 2006 |
- "Tricolor" collision ruiling appealed
The US court ruling that the 1982-built, 1036 TEU container vessel "Karibia" was entirely to blame for the sinking ...
- Stad ship tunnel no priority
The Stad ship tunnel no longer has solid support from the coalition partners in the current, leftist Norwegian government. During ...
- IMO to send experts to Egypt
IMO will provide technical expertise to the Egyptian investigation into the ferry disaster in the Red Sea. Egypt has launched ...
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| FEBRUARY 10, 2006 |
- Colombia shakes off diesel rumours
Suppliers confirm ample gas oil avails after speculation that supplies were tight.
- Singapore suppliers await low-sulphur factor
With the first SECA due in the Baltic Sea this year, Singapore demand for low sulphur fuel could increase.
- Lube plant expansion could supply eastern requirements
Lukoil president says lube plant expansion could supply lubricating materials to the entire east of Russia, including for the production of sea-going vessels.
- Rotterdam market remains stable
- Ex-director dismisses former employer's claims
A former employee of Triton Marine Fuels has dismissed claims made by the company.
- Changing of the guard at IBIA
In an extract from a frank interview with Bunkerworld magazine, Don Gregory, chairman of the International Bunker Industry Association (IBIA), admits that the industry association needs to adapt to changing times.
- Netherlands: Expansion prompts new appointment
- Malaysia injects 15 new police boats to deter piracy
Malaysia stepping up Malacca Strait anti-piracy efforts.
- Statoil to produce more LSFO in Mongstad
Ahead of SECA in Europe, Norwegian company supplying more LSFO in Mongstad.
- Chimbusco posts 28% rise in bonded bunker sales in 2005
Supplier reporting 28% rise in bonded bunker fuel sales for 2005.
- Aegean eyes more markets as barge fleet expansion continues
Supplier investing in up to 20 new bunker barges and applying for a bunkering licence in Singapore.
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