Neptune Orient to sell APL stake NEPTUNE Orient Lines plans to sell a 40% stake in its liner subsidiary APL as part of a surprise package to rebuild confidence in the debt laden group.
Den norske Bank in red over Greek losses SHOCK waves from this year's slump in the dry cargo market claimed a major casualty yesterday when Norway's largest bank announced it would plunge into the red.
Third quarter slump hits I M Skaugen Price competition and overcapacity in LPG and petrochemical gases took its toll on Norway's I.M Skaugen, as nine-month net results slumped to a NKr56m ($7.4m) loss.
Taiwan cabinet supports easing foreign investment TAIWAN'S cabinet has approved full liberalisation of the island's shipping market to allow foreigners to invest in various shipping businesses, Reuters reports.
EU shipping initiative starting to bear fruit The European Commission's quality initiative, hinted at in London last November and confirmed at an EU conference in Lisbon this year, is evolving gradually.
Philippines moves to reinspect ro-ros Philippine maritime authorities have decided to reinspect all domestic ro-ro vessels in the wake of the sinking of the ro-ro passenger ferry Princess of the Orient.
VLCC freight rates heading for slump LOW scrap levels, a heavy orderbook and a slowdown in crude tanker demand in 1999 could cause very large crude carrier freight rates to slump next year.
Introducing Royal Caribbean's Voyager of the Seas Royal Caribbean International has released an impression of how the world's largest cruiseship, the 142,000 gt Voyager of the Seas, will look when she comes into service in about 12 months' time, writes David Mott.
Panama confirms pilot talks PANAMA Canal Commission has confirmed that formal negotiations with the Pilots' Union are scheduled to begin this month.
Norwegian draft budget shocks owners THE Norwegian government's 1999 draft budget has raised fears of job losses and reduced competitiveness among shipowners.
MDD in line for Seabourn refit MALTA Drydocks (MDD) is in line for an important refit contract next May from Seabourn, a sister company to Cunard.
Aker takes full control at Finnyards NORWAY'S Aker Group has taken full control of the Rauma-based Aker-Finnyards shipbuilding company, by acquiring the remaining 40 per cent of its shares.
Rostock introduces short-time working ROSTOCK port operator, Seehafen Rostock Umschlag (SRU), will put its 450 personnel on short-time working for several days each month to cut costs.
IRS claims international role THE Indian Register of Shipping is claiming acceptance as an international classification society, following the acceptance of the Sri Lankan vessel Lanka Glory.
Government examines SCI appeal FOLLOWING the Shipping Corporation of India's (SCI) declaration that it wants to continue as a state entity, India's transport ministry has set up a committee to examine the issue.
CP sells Pacific freight network CANADIAN Pacific Railway has sold its Pacific Coast marine freight business, Coastal Marine Operations, to the Southern Railway of British Columbia for an undisclosed price.
Watters leaves Canadian Coast Guard AFTER 21 months of wrangling over Canadian Coast Guard navigation and icebreaking fees, David Watters has been handed a choice appointment as assistant deputy finance minister.
Private sector takes Seaway control CANADA'S locks on the St Lawrence Seaway have finally been passed over to a private sector operator.
PCC to launch Canal discussion group THE Panama Canal Commission (PCC) is to set up a discussion group for canal users and industry observers in the run up to the canal transfer in December 1999.
UP claims best service in a year UNION Pacific Railroad says it has posted its best service performance since the rail congestion crisis began in August 1997.
Anvers et ICF sont les chefs de file européens du trafic bananier Avec un volume de transport annuel d'environ 450.000 tonnes de bananes, Intercontainer-Interfrigo (ICF) est le leader du transport bananier en Europe. Un succès dont profite également le port d'Anvers: avec un transbordement d'un million de tonnes de bananes par an, Anvers est le port le plus important de l'UE dans ce segment de trafic. ICF a saisi l'occasion du dixième anniversaire du Bananes Express pour réunir toutes les parties impliquées dans ce succès au nouveau terminal bananier de Belgian New Fruit Wharf.
Etienne Schouppe critique la politique ferroviaire "doctrinaire" de la CE "Si la politique de démantèlement actuelle est poursuivie, cela aura des effets improductifs et se traduira par une augmentation des coûts. Les partisans de cette politique n'osent plus invoquer l'exemple britannique, le mécontentement étant général en ce moment au Royaume-Uni. Ils font désormais référence aux compagnies ferroviaires américaines spécialisées dans le transport de marchandises, alors que les conditions de travail y sont totalement différentes de celles en vigueur sur le vieux continent et qu'à quelques exceptions près, les entreprises n'y sont pas confrontées à une scission entre l'infrastructure et l'exploitation." L'administrateur délégué de la SNCB, Etienne Schouppe, a sévèrement attaqué la politique européenne en matière de libéralisation du rail lors de l'ouverture de l'année académique de l'Institute of Transport & Maritime Management Antwerp (ITMMA), lundi dernier à Anvers. A ses yeux, la Commission sape les bases sur lesquelles opèrent les compagnies ferroviaires européennes pour des raisons "idéologiques", et la politique mise en œuvre est contraire à l'objectif de "développement durable" et de transfert de trafic de la route vers le rail que la Commission prétend pourtant poursuivre.
La croissance du trafic containérisé se poursuit dans le monde Le volume de containers traités dans le monde entier dépassera probablement le cap des 160 mio. de TEU cette année. Cela représenterait une croissance de 3,9% par rapport aux 154 mio. de TEU transbordés l'année dernière.
Users slam CTAL 'go-slow' The alleged go-slow at Container Terminals Australia Ltd at Port Botany is having a severe impact on the reputation of the port of Sydney according to industry representatives. This is claimed in a letter sent to the national secretary of the Maritime Union of Australia, John Coombs, by the Sydney Ports Corporation on behalf of stevedoring terminals, FreightCorp, shipping lines and representatives of Greater Western and State Chambers of Commerce. The letter was written after a meeting last week at which the situation was discussed amid fears that the delays are costing Sydney port users business in both, in financial terms and in reputation. DCN has been covering the dispute for the past few weeks. The letter states that the ports of Sydney cannot handle cargo efficiently because: "There is clearly a go slow at CTAL at Port Botany as a result of the elimination of the chaser position for rubber tyred gantries (RTG)."
QR to freeze coal charges Queensland Rail will freeze coal rail freight charges for 12 months and introduce other financial incentives in a bid to cushion the effect of the Asian financial meltdown on its biggest customer -- the Queensland coal industry. State Transport Minister Steve Bredhauer announced over the weekend [4/10] that the government-owned QR had committed $40 million in coal freight relief funds in an effort to protect coal industry jobs in the state. Under the coal relief measures, applicable on tonnages railed for one year from 1 July 1998, QR's coal customers would no longer be penalised if they fail to reach their contractual commitments in terms of tonnages. Customers would also be offered lump sum rebates as an incentive to improve loading levels and availability from mines. The rebates are aimed to assist QR to better utilise its assets in a more efficient and productive manner. QR's freight incentive scheme, which rewards customers if they can achieve target levels of performance at a consistent and sustainable level, would also be expanded to other coal line corridors in the state.
QF freight shake-up underway Qantas' planned shake-up of freighter services from the US to Australia began last week, with the flag carrier promising greater flexibility for customers shipping freight to Australia. A spokesman for Qantas said that while available tonnages on flights from the US to Australia remained virtually unchanged under the reshuffle, the new timetable for dedicated freight flights on the southbound route would provide customers a greater weekly spread of freight space. Qantas adjusted its freighter services from the US to Australia to coincide with the start-up of five new weekly freighter services to Australia by global express freight giant FedEx.
Friday start-up for NR's Sydney-Perth express National Rail's ongoing efforts to attract traditional trucking business to rail is set to be given another boost with the start-up of its inaugural fast freight service from Sydney to Perth on Friday. The so-called "Western Sprinter" service is a new three-day express Sydney-Perth rail freight service which leaves Sydney every Friday evening, arriving in Perth for unloading early on Monday mornings. The service will include NR's PolarPak on-train power system for refrigerated containers. According to NR, the total transit time for freight ex-Sydney will be 60 hours, compared with the present 79 hours transit. NR said a major attraction of the new service was its late cut-off time, at 6.30pm in Sydney -- four and a half hours earlier than the present service.
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