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| JANUARY 27, 2006 |
Shipping News
- Shipowners cut spending on new vessels
SHIPOWNERS spent US$71.5 billion on new vessels last year, 6.3 per cent less than in 2004, as record prices curbed orders for container ships, dry-bulk carriers and tankers, said Clarkson plc, the world's biggest shipbroker.
- Hyundai Merchant's Q4 profit drops 11%
HYUNDAI Merchant Marine Co, South Korea's second-largest shipping line, posted an 11 per cent fall in fourth-quarter profit, largely due to higher oil prices.
- HK line Orient Overseas' Q4 sales growth slows
ORIENT Overseas Ltd, which operates Asia's seventh-biggest container shipping line, said fourth-quarter sales at the unit rose 2.2 per cent, a slower rate of growth as it filled less cargo space.
- Persian Gulf oil tanker rates hit 8-week high
Admiralty Casebook
- Loss of market value adequate proof of cargo damage: US appeals court
A US appeals court ruled last month that loss of market value was by itself adequate proof of cargo damage to establish a prima facie case of liability against a shipowner under the US Carriage of Goods by Sea Act.
Port Shots
- Port Shots
DAEWOO Mangalia Heavy Industries SA, the Romanian unit of South Korea's Daewoo Shipbuilding & Marine Engineering Co, won the bid to buy Santierul Naval Mangalia, a state-owned Black Sea shipyard, the Romanian government said.
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| JANUARY 27, 2006 |
- PSA tops DP World's bid for P&O Ports
- Grand Alliance upgrades service offerings
- Toll refuses to let ACCC's concerns about Patrick bid bother it
- LA sees 2005 box volumes rise 2.23pc, Long Beach containers up 16pc
- MOL Logistics launches Chinese language website
- FedEx Express to buy China's DTW Group for US$400m
- New Macau low-cost carrier to begin services in Q4
- Northwest tells bankruptcy court that labour cost savings essential
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| JANUARY 27, 2006 |
- Allcargo Global Logistics raises stake in ECU Hold NV to 49.99 pc
- MOL adds ships to Indian Ocean consortium
- Varun Shipping posts 127 pc rise in Q3 net profit
- Lloyd’s List to organise conference on manning & training in India
- IPBCC announces rate restoration in westbound trade
- PM agrees on task force to scrutinise exporters’ problems, suggest solutions
- Ficci calls for unified, comprehensive duty drawback scheme
- PHDCCI stresses need for simple, transparent & exporter-friendly duty neutralisation scheme
- 100 pc FDI via automatic route to be allowed in export trading
- CCEA gives approval to Rs 2,000-cr. National export Insurance account
- Textile export target raised to $ 85 bn
- Govt to ease textile machinery import norms
- KPT formulates ambitious expansion plan to meet demands of booming trade
- Planners insist on Major Port Trusts sharing capital dredging costs
- CONCOR, IRCON to join hands to operate port-related infrastructure on foreign soil
- Assocham goes global
- CBDT set to free banks of collating TDS exemption data
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| JANUARY 26, 2006 |
- Port of Rotterdam Authority appoints financial director
- Another record year for Eurogate
- Alitalia to take over Volare
- NYK launches new inland intermodal services to and from Amsterdam
- FedEx Express buys express company DTW in China
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| JANUARY 26, 2006 |
- P&O board accepts PSA offer
- Enel charters K Line bulker
- CKY slots charters on MSC’s Europe-US Gulf service
- AMB buys Hamburg cargo facilities
- Intertanko and Intercargo join Danish pilotage initiative
- North of England advises on letters of indemnity
- Strike hits Marseille but oil pushes up figures
- LR buys German consultant
- Gladstone bunker spill
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| JANUARY 26, 2006 |
- Milestone for first National Security Cutter
- Noble guarded on plans for Smedvig stake
- Songa Offshore lists on Oslo exchange
- Kirby reports record quarter
- Promotion at Crowley
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| JANUARY 26, 2006 |
- Carlile Transportation Systems moves operations to Port of Tacoma
- Grand Alliance carriers plan to expand service levels
- Coast Guard responds to fire at Columbia River Yacht Club
- Greenbrier buys equipment from YSD Industries
- Crowley taps Joel Klenck as ship assist/escort services VP
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| JANUARY 27, 2006 |
- Dubai Ports World set to trump PSA’s offer for P&O
A SWIFT response to PSA International’s recommended £3.54bn ($6.7bn) bid for P&O is expected from Dubai Ports World, whose initial offer has triggered a bid battle for the prestigious British ports and ferries group.
- Frontline’s stake in Genmar rises to 11.25% after share re-purchase
JOHN Fredriksen’s Frontline has increased its stake in General Maritime - without spending a cent - and continues to eye its rival as a potential takeover target.
- Opec chief backs status quo
ORGANISATION of Petroleum Exporting Countries president Edmund Daukoru thinks the cartel will keep production quotas level at its meeting next week, writes Martyn Wingrove.
- Repsol cuts reserves by a quarter
SPANISH oil major Repsol YPF slashed it oil and gas reserves by 25% yesterday, in a move that is expected to reduce net profit for 2006 by up to €170m ($208m), writes Brian Reyes in Gibraltar.
- Brit’s Dane Douetil to lead Lloyd’s reforms
LLOYD’S and the London insurance market has moved quickly to appoint a new chairman for the Market Reform Group, hard on the heels of Lime Street axeing the faltering Kinnect electronic project.
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| JANUARY 26, 2006 |
- NEWSFLASH: Dubai ups bid for P&O
IN A late-night swoop, DP World has upped its offer for P&O to 520 pence, trumping PSA International's earlier bid of 470 pence
- Frontline's inside job on Genmar
FRONTLINE has reiterated its hope to acquire control of General Maritime, while its stake in GenMar has crept above the 10% threshold, making it a GenMar ‘insider’
- Pilotage clause for Danish Strait
TANKER operators’ forum Intertanko is encouraging the use of a new ‘Danish Strait’ pilotage clause for inclusion in trip- and timecharter contracts
- Portia close to Trinidad deal
PORTIA Management Services will take over the management of the Port of Spain having signed a Heads of Agreement with the Port Authority of Trinidad and Tobago
- Grand Alliance boosts Ceres throughput
- Stowaway ‘killers’ back in court
- German owner pioneers towing kite
- HMM blames currency for slump
- CKY charters MSC slots to US Gulf
- India investigate casualties
- Dilemma for DP as P&O tops 500p
- QM2 action in court and on board
- 20% raise for Indian officers
- New cruise terminal for Liverpool
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| JANUARY 26, 2006 |
- DP World tops PSA bid for P&O
New bid by Dubai government trumps earlier offer of $6.4 billion by Singapore's PSA International for British ports and ferries group.
- WSC's Koch says better import data needed
- UPS sees jump in profit
- Dispute threatens NY cocoa deliveries
- Rutledge joins GreenLine Systems
- Kirby earnings soar
- CNF 4Q profit up
- Eastern Car Liner charters U.S. Gulf-S. America slots
- New Vancouver rail pact
- LAN Cargo appoints CEO
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| JANUARY 26, 2006 |
- Ban on container traffic boosts charges at Sydney Harbour
Shipping lines using Sydney Harbour were shocked by new towage fees to be imposed by Adsteam Harbour from March 1 and the forecast of even higher charges in the future.
- Singapore closes in on US$3bn Qatar deal
- MSC to add Colombo to ANZ-Euro service
- Chief of Switzerland’s SBB up-beat about European intermodal traffic
- Imbituba expansion under way
- Hamburg expects record volumes again in 2006
- Panalpina plans significant Indonesian growth
- India to consult on transport Act
- NYK to boost terminal’s hinterland connections
- OOCL 2005 growth slows
- Hyundai Merchant Marine announces 2005 results
- Transport MEPs protest €13bn cut in Trans-European Network budget
- Concor eyeing foreign projects
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| JANUARY 26, 2006 |
- Belgians bulk up
CMB scores $54m fourth quarter and $206m for all of 2005 despite weakening dry cargo market.
- Two more held over OWS
Toepfer-managed containership and NCC chemical tanker held last month over oily-water separator problems.
- Freddie in a fix?
Frontline will be considered Genmar 'insider' for purposes of SEC, could face tougher trading, reporting rules.
- Barclays stays big
Overseas Shipholding Group's top institutional investor remains hot on tanker giant's stock.
- Scrapper undeterred
An Indian shipbreaker remains committed to starting up a scrapyard in the US Pacific Northwest for the US ‘ghost fleet’.
- Quartet detained in Canada
Shih Wei, Cosco Shanghai, Harbor Shipping and Fleet Management vessels crop up on December list.
- Varun looks overseas
Yudhishthir Khatau warns that high Indian taxes may drive shipowners to healthier fiscal climates.
- Bluewater profit soars
Newly listed marine insurer stays on course and is upbeat about the outlook.
- Tidewater triples profits
Revenues and earnings grow for New Orleans offshore operator.
- Keppel keeps on growing
Rig orders drive leap in fourth-quarter profits though group warns 20% annual growth set to fall.
- Haywire Point
Second accident in a month at Aussie coal terminal causes more delay and lands BHP-Mitsubishi with huge demurrage bill.
- Chukoku funds gas newbuild
Okayama-based bank teams up with STB Leasing and Tokyo Star to finance local owner.
- Sovcomflot adds products trio
Series of MR tankers grows to nine at Admiralty shipyard as Russian owner confirms long-mooted order.
- Kirby at record high
US oil barge giant posts best ever annual profit for 2005 and expects better again this year.
- P&O jilts Dubai
UK ports and ferries group accepts higher takeover offer from Singapore's PSA, leaving bidding war possible as DP World mulls options.
- P&O sure PSA can deliver
Chairman Sir John Parker likes Singapore group’s commitment to retain existing management and employees after takeover.
- HMM profit sinks
Higher bunker prices and trading downturn hits diversified South Korean shipping group.
- Forbes expands marine arm
London insurance broker appoints rival Willis’ Peter Hall as executive director.
- Growth slows at OOCL
Liner operator sees revenues and volumes ease off in the fourth quarter compared to the whole of 2005.
- Cosco Shipyard inks orders
Chinese shiprepair group off to strong start in 2006 with newbuilding and repair deals worth $13m.
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| JANUARY 26, 2006 |
- "K" Line, Yang Ming to start Asia/Mediterranean service
- MSC to increase capacity in transpacific
- Adrion joins TUI's executive board
- Hamburg Sud, CCNI to share space in U.S./South America service
- CMA CGM to charter slots on COSCO's China/Long Beach ships
- Eastern Car Liners to take slots from Industrial Maritime Carriers
- ANL selects MacAndrews as U.K. agents
- Crowley Maritime promotes Klenck to VP of tug services
- Grand Alliance completes post-P&O Nedlloyd network adjustments
- Paris MOU sets vessel pollution inspections
- Coast Guard raises entry conditions for ships calling Equatorial Guinea
- Hanjin opens new Belgium office
- UAL Corp. selects Nasdaq for new listing
- Schneider economist warns of severe recession, truck shortage
- BNSF sets $2.4 billion capital spending budget for 2006
- CN's net income up 14% in 4th quarter
- CSX's 4th quarter profit up 49%
- CNF posts 59% rise in 4th-quarter net income
- BNSF's 4th-quarter earnings up 24%
- Mead to step down as DOT inspector general
- Moorman to replace Goode as Norfolk Southern's chairman
- NEMF trucking promotes Nallen
- Taiwan reopens market to U.S. beef imports
- Serrano resigns as EGL CFO
- Metals logistics firms merge marketing services
- Odyssey Logistics opens service center in Charlotte
- Shippers to push for freight policy during White House visit
- Bush administration reaffirms to Japan that American beef is safe
- U.S. ends property rights investigation against Pakistan
- OH Logistics names Weaver to head acquisitions
- JPMorgan Chase Vastera updates compliance software
- MOL Logistics (Japan) adds Chinese Web Site
- Held resigns as Schenker's chairman
- FMC reviews 2 OTI license applications
- PSA makes formal $6.33 billion offer for P&O
- Strikes halt Marseilles-Fos' box volume growth
- Prince Rupert Port terminal upgrade approved
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| JANUARY 26, 2006 |
- MS "Jupiter" chartered by Statoil
Norwegian passenger/ferry MS "Jupiter" formerly with Fjord Line, but which now belongs to Troms Fylkes Dampskibsselskap (TFDS) and Fjord ...
- Color Line buys terminal preference
Norway’s biggest passenger/ferry operator Color Line buys preference to the ferry terminal in Kristiansand in South Norway to the ...
- Paris MOU to focus on oil spill requirements
The 22 port states of the Paris MOU will lauch a concentrated inspection campaign to check how requirements for preventing ...
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| JANUARY 26, 2006 |
- Barge operator posts record result
Gulf barge company announcing 39% profit increase for 2005, shaking off hurricane season woes.
- Five new companies join Russian Bunker Association
The Russian Bunker Industry Association has informed Bunkerworld of the minutes of its latest general meeting, held yesterday.
- SPC 2005 profits surge 60% on record sales
SPC benefited from increased product sales and strong refining margins in 2005.
- Gladstone bunker spill could cost millions
The cost of what is described as Gladstone's worst oil spill in over 30 years could run into millions.
- South Korea forecasts continued oil demand growth
The South Korean government projects continued oil demand growth in 2006, with shipping fuel consumption playing a part.
- Rotterdam/Antwerp trade market quite at midday
- Singapore: Dip in residual fuels, sharp fall in distillates
- Onboard MariNOx system reaps fuel savings
Trials confirm that onboard NOx and CO2 monitoring system helps to save on fuel consumption.
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