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| FEBRUARY 28, 2006 |
Shipping News
- US ports issue: The ship's already sailed
IN the outcry over who should run America's seaport terminals, one clear trend appears to have been overlooked: American companies began withdrawing decades ago from the unglamorous business of stevedoring, ceding the now-booming industry to enterprises in Asia and the Middle East.
- Viswalab calls for price-quality connection for bunker fuel
DONALD The newest entrant to the local bunker fuel testing market, Viswalab Singapore Pte Ltd, officially opens tomorrow and has called for greater importance to be placed on the connection between bunker quality and price.
- Respite for Bush as DP World agrees to review
US President George W Bush averted a showdown with Congress, at least for now, after Dubai Ports World agreed to submit its acquisition of six US port facilities to a 45-day government review.
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- MOL upgrades Haiphong box service
- DP World accepts further US scrutiny over P&O deal
- Antwerp Port Authority makes rail transportation a bigger priority
- Logistics hub to be built at Westport
- Hainan to invest US$2b on transport infrastructure
- K + N Mexico manages spare parts warehousing for Toyota
- Air NZ profit down, further job cuts loom
- Cathay Pacific gives thumbs up to HK Financial Secretary's budget speech
- New Breed to manage logistics for 787
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- Evergreen Launches fifth service linking Asia with US E. Coast
- Wan Hai Lines to offer HK-Japan service
- ZIM adds Oakland to RTW service
- "K" Line to begin Xiamen-Med service
- KMTC resumes Xiamen-S. Korea service
- TS Lines to launch 5th Japanese service
- 2 new shipping services launched from XICT
- Shipping cos anchoring in foreign shores to escape heavy tax regime
- Shreyas to raise $ 8 million from GDR issue
- Car exports up by 9 pc in January
- Castor oil exporters set sights higher by 10 pc for 2006-07
- Asean FTA to take effect from January 1, 2007
- Chemexcil confident of 30 pc export growth in 2005-06
- EEPC seeks scrapping of service tax on commission paid to foreign agents
- Fieo (WR) workshops in Mumbai, Pune
- Main line vessels can now call directly at Cochin Port
- With 14 berths now, New Mangalore Port hopes to handle 3 m tonnes more cargo
- Govt envisages 276 ports in 20 years—Baalu
- Speed up work on freight corridor, says BCC&I
- Reliance Infrastructure gets nod to operate container trains on category-I routes
- Rlys hopes to haul 726 m tonnes in 2006-07
- ...projects 13 pc rise in iron ore exports next fiscal
- Railways remain better option for major freight providers
- Commodities offer future investment option
- ONGC sets up SPV for Mangalore SEZ
- IMF dishes out formula for faster Indian growth rate
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| FEBRUARY 27, 2006 |
- UPS names new director
- Zim calling at Oakland CA
- KLM announces summer schedule
- ICF's shareholders to "continue their support"
- DHL plans new facility in New York
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| FEBRUARY 27, 2006 |
- Horizon focuses on cutting debt
- BW buys product tankers
- UK detains nine vessels
- Worldwide Project Consortium expands
- Wind turbine row blows on
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| FEBRUARY 27, 2006 |
- Navamar to buy Davie
- P&I warns on dangers of lone watches
- DP World asks for deeper security probe
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| FEBRUARY 27, 2006 |
- Customs sees big jump in electronic manifest filers
- Horizon Lines' CEO predicts major expansion plans in future
- Seattle-based Cutter returns from drug patrols
- International Trade Commission wants input on Korea trade pact
- BW Shipping buying eight panamax tankers
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- US bid to block P&O sale goes before UK High Court
ELLER & Co, the Miami stevedore involved in US litigation to block the sale of P&O to Dubai’s DP World, is taking its case to London’s High Court.
- DP World hopes findings will allay American fears
A "VOLUNTARY" request by DP World to subject its $6.8bn global takeover of P&O to a deeper 45-day investigation "under US law" has emerged as the fig leaf with which US lawmakers could potentially cover themselves, writes Rajesh Joshi in New York.
- Security issue not been debated here, says EU spokesman
WHILE the US media and a cross-party coalition of US politicians slam the prospect of a UAE-backed company taking control of six American terminals, in Europe the issue has not even registered on the radar screen, writes Justin Stares in Brussels.
- Hyldager replaces Morse at Inchcape
SIMON Morse is stepping down as chief executive of Inchcape Shipping Services just a month after the ship agency firm was bought by Istithmar PJSC, writes Janet Porter.
- BW Shipping makes products splash with $449m AL deal
BW SHIPPING has made a $449m plunge back into owning product tankers, having exited the sector in 2004.
- Greek ferry trial: seven found guilty
SEVEN people have been found guilty of contributing to the Express Samina disaster in September 2000, one of Greece’s worst modern shipping disasters, writes Nigel Lowry.
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- DP World's delay reassures Americans
CONGRESSIONAL republicans are accepting DP World’s offer of a 45-day delay in asserting control over the US terminals it will acquire this week and will relent on passing laws to block the deal
- Hyldager replaces Morse at ISS
SIMON Morse has stepped down as group chief executive at Inchcape Shipping Services with immediate effect. He is being replaced by Claus Hyldager
- Top fleet expansion fuels growth
TOP Tankers more than doubled its profits last year despite a drop-off in rates in its spot Suezmax sector, with growth fuelled by the company’s rapid fleet expansion
- Katrina refugees to leave ferry
LOUISIANA residents who have been housed on the ferry Scotia Prince since Hurricane Katrina are pleading to be allowed to stay on board as they have nowhere else to go
- Venezuela-US rift worsening
VENEZUELA is stepping up threats to shift oil exports away from the US, a move that would be a windfall for the tanker trade
- Swedish tonnage tax plan submitted
The man given responsibility a year ago with presenting the case for a tonnage tax scheme in Sweden, has now submitted his proposal
- Grounded bulker officers in protest
- DP World accepts 45-day probe
- Sea Containers' ferry head leaves
- Lone watchkeepers 'may need help'
- Italians make good use of tonnage tax
- Australia on wheat rescue mission
- Trade suspended after abuse claim
- STX to double tanker fleet
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| FEBRUARY 27, 2006 |
- Senators move to block Dubai port deal
Despite new compromise, legislation moves ahead to ensure a thorough review of DP World's takeover of P&O's U.S. terminals.
- Horizon Lines plans acquisitions
- Portland posts Jan. gains
- e-Truck join-ups increase
- Alameda Corridor containers increase in 2005
- U.S. pledges Malacca security help
- TNT express margins soar
- Gain for truck tonnage
- Dan-Gulf back in NOLA
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| FEBRUARY 27, 2006 |
- Updated: P&O High Court hearing adjourned until tomorrow
The hearing of the Scheme of Arrangement for DP World to buy P&O has been adjourned till tomorrow, as objections have interrupted this normally brisk and uncontroversial procedure.
- MISC sugars short-term pain with long-term promise of gain
MISC Berhad is predicting a shipping industry upturn around 2010, despite ‘stable to softening’ short-term prospects for the shipping industry on the back of tonnage supply outstripping haulage demand.
- APMT Rotterdam faces workers’ ultimatum
- VICS confirms change of strategy, after January fall
- JadeWeser award due by mid-March, with shortlist reportedly shrinking
- Hong Kong to start mandatory electronic cargo manifest filing in June
- Antwerp’s cargo ‘bundling’ to improve rail catchment and capacity
- More orders for 4,000TEU new vessels
- MOL launches one more Vietnam-HK service
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| FEBRUARY 27, 2006 |
- Lasco holds firm
Latvian owner posts small rise in profits for 2005 despite rate woes for reefer and tanker tonnage.
- 19 years for Samina navigator
Shoreside managers will avoid four years’ prison time by paying fines for their part in the deadly wreck of the Express Samina.
- We are the champions!
Evangelos Pistiolis claims TOP Tankers older suezmax fleet is earning loads more money than its leading rivals.
- Seacor swells
NYSE-listed Seacor is reporting sextupled operating income for the year in which it swallowed Jones Act compatriot Seabulk.
- Davie saved?
Repair group Navamar steps in to buy bankrupt Quebec yard.
- Suez Canal spill
Laden Greek operated aframax tanker leaks heavy fuel oil after running aground.
- NATS goes back to investors
NYSE-listed tanker owner announces its third equity offering in eighteen months to fund more suezmaxes.
- Pan-United cements deal
Jebsen Skipsrederi to convert two general cargo ships as yard picks up new contracts.
- MC in upbeat mood
Vessel acquisitions and charter renewals set to boost gas shipping profit.
- Japan detains 16
L&B and Vega of Germany feature on January list of port state failures.
- More pocket money for Fain
RCCL chief executive racks up another $3.6m after cashing in stock options.
- Limarko trebles profit
Lithuanian reefer player boosted by better market and ship disposal in 2005.
- Hanjin plumps for Philippines
Group finally confirms it will build $720m mega-yard in Subic Bay to begin work in 2016.
- Fjellstrand plans new yard
Norwegian shipbuilder to build facility for construction of high-speed aluminium ferries.
- CSC charters feeder duo
Sri Lanka's state-owned Ceylon Shipping eyeing container trade as well as lining up tanker buy.
- Frangos wins costs
Loucas Haji-Ioannou (right) loses appeal in long running battle over $49m “dowry” for daughter’s failed marriage.
- FreeSeas sees loss
Gourdomichalis brothers’ three-ship dry bulk outfit hit by dry docking downtime and start-up costs.
- BW ties up AL eight
Former Bergesen Worldwide Shipping buys products tankers being built at Dalian in China from V.Ships and German KG joint venture.
- MOL increases Vietnam links
Japanese container line adds second route to Hong Kong and southern Chinese port of Chiwan.
- Sado slips further into red
Japanese ro-ro owner has poor 2005, but 2006 looks twice as bad.
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| FEBRUARY 27, 2006 |
- Tropical Shipping's 4th-quarter operating profit down 78%
- Horizon anticipates eventual vessel replacements
- Hyldager replaces Morse as Inchape's chief
- Hamburg Sud has complete ownership of Ybarra Sud
- ILO adopts labor standards for seafarers
- CSAV opens Korean agency
- Master mariners’ council sets May assembly date
- Shipping lane protections could kill Mass. offshore wind farm
- World Air files late reports with Nasdaq
- World Airways extends freighter leases
- Cargolux contracts Geneva/Luxembourg road service
- OOIDA opposes ATA speed limiters
- Ritchie, Newall to leave CP Railway
- St. Lawrence Seaway sets opening dates in March
- U.S. recommends March 1 start for CAFTA with El Salvador
- RFID deployment hurt by lack of talent survey says
- Toyota picks Kuehne + Nagel Mexico to manage spare parts
- USAID to ship 22,800 metric tons of food aid to Kenya
- DP World agrees to second investigation of port sale
- N.Y.-N.J. port authority, state of New Jersey sue to stop P&O sale
- Project group aims to increase rail volumes at port of Antwerp
- Security conditions vary on foreign sales, DHS official says
- Eller & Co. raises alarm bells over port compromise
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| FEBRUARY 27, 2006 |
- Broström reports strong performance 2005
Göteborg-based Broström reports a SEK 720 million pre-tax result in 2005, more than double compared to 2004 when ...
- "M. Pioneer" crew leaves and flies home
The bulk carrier "M. Pioneer" has now left the port Fredericia and is anchored at the roads before leaving for ...
- One step closer to tonnage tax in Sweden
The Swedish tonnage-based tax system commission of inquiry has submitted its proposal to the Swedish government. The commission proposes ...
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| FEBRUARY 27, 2006 |
- Egypt: 3,000 mt fuel oil spill in Suez Canal
Huge fuel oil spill reported in the Suez Canal, but waterway remains open.
- African oil terminal and bunkering facility inaugurated
New terminal said to be first independent on-shore tank storage facility in the Horn of Africa.
- Lubrizol: Additives supply to remain tight
Lubrizol Vice President addresses factors which led to last year's crisis, including increased demand for marine lubricants, and says the market will be tight going forward.
- New barge, terminal in Colombia
Free trade deal with US bolstering Coremar group expansion of bunkering and port facilities.
- Rotterdam/Antwerp holding steady Monday morning
- Russian oil export duties to rise
Record crude oil duty and 14% rise in fuel oil levy due in April.
- Forecast drop in net profit for Singapore's NOL
Analysts forecast net profit fall in 2005 from 2004 due to lower freight rates and higher bunker costs.
- New barge company formed in the Netherlands
ARA bunker supplier and trader separates out bunker barge operations, forming independent barge operator.
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