Van Miert warns on rate-fixing TENSIONS between the liner shipping industry and Brussels intensified yesterday as European Union competition commissioner Karel van Miert repeated his threat to impose large fines on conference carriers that set inland freight rates collectively.
DSR name disappears as owners plan four-way break-up DEUTSCHE Seereederei Rostock, the former East German state-owned shipping giant, will be broken up into four operating companies from January 1 and divided between the two owners.
Merged Philippine lines on course to hit revenue target DESPITE poor economic conditions the Philippines' largest domestic cargo and passenger liner operator is expecting to hit its revenue target of Peso5bn ($152m) by the end of 1997.
IMB moves to end confusion on oil cargoes A SCHEME designed to prevent confusion arising from the proliferation of oil cargo letters of indemnity has been devised by the International Maritime Bureau of the International Chamber of Commerce.
Strong freight rates boost for Concordia SWEDISH large tanker specialist Concordia Maritime, part of the Gothenberg-based Stena Group, was pushed back into profit in the first nine months of this year, helped by stronger freight rates and no off-hire time for drydocking.
Carlsson predicts crash of VLCC and aframax sector CONCORDIA president, Lars Carlsson, has expressed strong doubts about the future direction of the tanker market, predicting a wholesale collapse in freight rates for VLCCs and aframax tankers in 2000 or 2001.
Rotterdam changes bunker barge rules ALL Rotterdam bunker barges must from next year comply with a new set of rules and regulations or face losing their licences to trade.
Nordstrom & Thulin back in the black STRONG tanker markets, a reduction in the cost base of dry-bulk operations and a positive contribution from ferries helped Swedish shipowner Nordstrom & Thulin to swing sharply back into profit in the first nine months of this year.
Chinese 'crew exports' rise CHINA has reported a steady rise since 1984 in national seafarers working for foreign owners.
Navis orders $120m drill ship NAVIS, a new company based in Stavanger in Norway, has ordered a drill ship worth $120m from the Samsung Heavy Industries' shipyard in South Korea.
Ulstein reports strong profits growth NORWEGIAN shipbuilder and marine equipment manufacturer Ulstein Holding has reported a strong growth in profits in the first nine months.
India to speed up cargo clearance INDIA'S industry secretary has announced that from December 1 cargo clearance will take just 48 hours.
Tauranga seeks increased export role NEW Zealand's North Island Port of Tauranga is planning to increase the port's role as a distribution and aggregation centre and build up its exports.
Lachmann and Japanese invest in Brazilian terminal BRAZILIAN group Lachmann, together with Japanese company Nisho Iway, is to invest $70m in a new terminal.
Brazilian government studies shipyard plan BRAZIL is studying a long-term plan to save its shipyards.
Lloyd Werft to complete hull for NCL BREMERHAVEN-based Lloyd Werft has reportedly signed a letter of intent with Norwegian Cruise Line for the completion of the former cruise liner hull lying at the closed BV yard.
World seaborne trade set for 3.8 per cent growth REVITALISED demand for dry bulk cargoes is forecast to lift world seaborne trade by 3.8 per cent this year to a record 4.94bn tonnes.
Chinese throughput advances strongly THE total value of China's import and export cargo during the first three quarters rose 13.7 per cent to $227.3bn.
Storms close Mexican ports again MEXICAN oil ports were shut down again this week due to a cold front sending in waves as high as 12 ft.
LOF sells three panamax tankers BERMUDA-based London and Overseas Freighters has sold its fleet of three panamax tankers to clients of Pegasus Shipping.
Venezuela examines new container port VENEZUELAN government authorities are looking at building a new container port at Puerto Frances, about 100 miles east of Caracas.
Beirut rules out port expansion FURTHER expansion of the port of Beirut has been ruled out by Lebanese authorities, despite daily congestion.
P&O Ports seeks Indian port funding P&O Ports India is to approach multilateral aid agencies to fund its ambitious Vadhavan Port project.
Call to reform India's borrowing scheme INDIA'S Empowered Committee has recommended that External Commercial Borrowing (ECB) applications for shipping loans should be cleared within 10 days.
B&N eyes on roro and bulk BYLOCK & Nordsj'frakt will focus its future development on roro and bulk shipping.
UK Club adopts strong line on ISM compliance THE UK P&I Club has joined the Standard Club in taking a firm stance on compliance with the impending ISM Code.
Market madness leaves shipping dead in the water Stock market nervousness is being blamed for putting the brakes on the sale and purchase market as well as casting a shadow over the future of the dry-bulk market.
Boiler problem hits Astro tanker, and ICB's defense ICB Shipping of Sweden appears to have suffered a blow in its propaganda war with Frontline of Norway over ICB's plans to merge with Greek shipowner Astro Tankers.Major ICB shareholder Frontline has strongly protested the merger, which would give ICB - which now has the most modern tanker fleet in the world - five large Astro tankers built in the mid-1970s.
Emerald glitters as a player worth watching "They don't want to be your friend. They don't even necessarily want to see you. They want you to do your job, and if you do, they'll do theirs." That's how one market observer describes the folks at Emerald Shipping, the chartering arm of Tosco Corp formerly known as Bayway.
Major financier Hansa Treuhand plays it safe Ship financiers using the German KG (limited partnership) scheme boosted volumes to a record high in 1996. Established player Hansa Treuhand, however, went the other way, cutting back on new projects in what appears an insightful move.
China plans new VLCC repair dock China will add a VLCC drydock to its dedicated ship-repair facilities, in a bid to win a larger share of the world large tanker repair market.
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