Port of Portland commissioners vote to sell shipyard to Cascade General Yard will go to privately-owned Cascade General Inc. for $38.4 million
DRPA to sponsor informational meeting for vendors interested in doing business with Kværner Philly On January 29, 1999,the Delaware River Port Authority (DRPA) and the Southern New Jersey Development Council will sponsor a briefing directed to companies interested in joining the Kvaerner Philadelphia Shipyard supplier network.
Class societies won't be too much help on Y2K The leading classification societies say they are unable to confirm ships' Y2K compliance.
New Sperry Marine president Dr. Clark "Corky" Graham, age 56, will succeed Paul David Miller as president of Sperry Marine Inc. effective Dec. 23, 1998. In this capacity, he will oversee the companies comprising Litton Marine Systems.
Air attack 'destroys' Umm Qasr UMM Qasr, Iraq's main commercial port and an important entry point for humanitarian goods, has reportedly been "completely destroyed" by the continuing US and British air raids on the country.
US is still in market as Iraq's biggest oil buyer AMERICAN bombs may be falling on Baghdad but US oil companies said they expect to remain the biggest buyer of Iraqi crude in the months ahead.
Weather takes its toll on margins in reefer trades BANANAS are being left in the cold this Christmas (1998), and so are the operators of ships that transport them across the oceans.
Exotica begins with lychees FRANCE is setting the pace in its taste for exotic fruit.
ACL strategy unshaken by Holt move ATLANTIC Container Line's business plan has not been de-railed by pressure from the carrier's biggest shareholder.
Eight held over Turkish sell-off Police investigating the alleged rigging of a Turkish oil tanker sell-off made eight arrests this week.
Owners call on Bonn for more cash aid German shipowners have asked the new Bonn government for fresh financial help totalling Dm60m ($37.5m) annually, in addition to the package of shipping-related tax cuts that will come into effect next year.
Korea 'ghost port' springs to life Hanjin and Choyang are expected to start calling upon the greenfield container port of Kwangyang in Korea after shunning their dedicated berths there for nearly a year, writes Matthew Flynn, North Asia Correspondent. Known in Korea as the "Ghost Port" for its lack of cargo, Kwangyang boasted a throughput of 19,013 teu in November, up from 1,299 in July. By the end of this year, total throughput should top 40,000 teu.
Fate of Brandal Viking to be decided today LAWYERS, agents, a prospective buyer and others interested in the sale of the 2,000 gt reefer ship Brandal Viking are meeting in Gibraltar today to decide on the ship's fate.
UK to reopen formal Derbyshire investigation UK DEPUTY prime minister John Prescott yesterday announced the reopening of a formal investigation into the sinking of the bulk carrier Derbyshire in September 1980.
Sri Lanka seeks fast ferry for Jaffna SRI Lanka is in the market for a fast passenger ferry to transport people between the eastern port of Trincomalee and the northern Jaffna peninsula.
Oil prices under pressure THE survival of Iraq's oil industry, combined with no positive news about production cuts from Saudi Arabia, Mexico and Venezuela, has put further pressure on the oil price.
P&O Nedlloyd carries most Korean boxes P&O Nedlloyd handled the largest number of containers carried on foreign lines on routes to and from South Korean.
RINA challenges ranking ITALIAN class society RINA has hit back after Tokyo MOU Secretariat ranking of ISM non-compliance.
Costa posts improved results COSTA Crociere, the Italian cruiseship operator now part of Carnival Corp, has posted substantially improved results for the first nine months of the year.
PZM wins major steel contract DUTCH steel giant Hoogovens Staal has awarded a $60m, five-year contact involving the shipment of Dutch steel to Great Lakes ports to Polish Steamship Company.
Kværner sells properties, merges pulping activity KVÆRNER, the troubled shipbuilding and construction group, is to sell properties and merge its paper and pulping machinery activities as part of its restructuring process.
Malta yard blames drawings for delayed ferries MALTA Shipbuilding Co's worker director Jesmond Tanti has alleged that work on three Gozo Channel ferries was being done twice because drawings were incorrect.
Portland votes to sell shipyard PORT of Portland commissioners have voted unanimously to proceed with the sale of Portland Shipyard and its three floating drydocks to Cascade General for $38.8m.
Bona on the look out for acquisitions BONA Shipping, the Oslo-based obo operator, is on the look out for companies to take over, following its arrangement of a $500m revolving credit facility deal.
Senate urged to study Cargill-Continental deal CARGILL'S acquisition of Continental's grain business is to come under the scrutiny of the US Senate Agricultural Committee, if time allows.
Liberia confirms it has dropped IRI LIBERIA'S Commissioner of Maritime Affairs confirmed in New York yesterday that the contract with International Registries Inc will not be renewed.
Pacific Carriers offers birthday dividend PACIFIC Carriers, the bulk carrier and chemical tanker operator, is to pay a 25 per cent per share dividend to celebrate its 25th anniversary.
Aker Maritime Wins Three-Year $60M Order Aker Maritime ASA reportedly won a contract from Esso Norway worth $20.2 million annually over three years. The contract is for the maintenance of installations in the Jotun and Balder fields in the Norwegian sector of the North Sea.
Exxon Signs Three Angola Deepwater Deals Exxon Corp.'s, the world's largest publicly traded oil company, Angolan affiliate reportedly signed three production-sharing agreements with state oil company Sonangol.
Carnival Profit Surges As Passenger Counts Rise Carnival Corp., operator of the world's largest cruise line, reported profits jumped 42 percent in its fiscal fourth quarter, as stronger passenger counts and a majority stake of Cunard, acquired in May, boosted revenues.
Bulk Carrier Safety Assessment Plan Accepted A plan to carry out formal safety assessment studies of bulk carriers to aid future decisions on their safety has reportedly been accepted by International Maritime Organization (IMO) members.
Port Authority Of NY/NJ Approves $250M Project The board of the Port Authority of New York and New Jersey reportedly authorized a $250 million project that will speed dredging of key channels serving the Port of New York and New Jersey.
Singapore Looks At Expanding Cruise Business Singapore is reportedly planning to build a bigger center for cruise vessels as it expects strong growth in the business in coming years.
Deutsche Post AG intends to acquire Danzas Holding AG, Europe's fourth-largest freight company, for $1.1 billion in cash in a bid to become Europe's dominant transportation and logistics provider. The acquisition comes as the European Union prepares for postal deregulation in 2003. Danzas shares rose by 33 percent to 580 francs following the announcement. The tender offer is expected to commence in mid-January and to remain open until mid-February 1999.
Hide, duck, bob and weave - you can't avoid a conclusion that 1998 was custom-designed for Bud Shuster and his six-year, $217 billion highway and mass transit spending bill signed into law as the Transportation Equity Act for the 21st Century. Shuster now is determined to build a protective firewall around the Airport and Airway Trust Fund. Shuster also could set the House and Senate agenda in the 106th Congress on Surface Transportation Board reauthorization and captive-shipper initiatives to trim railroad market power. The new Congress also must concern itself with funding port dredging and reconstructing dozens of aging inland waterway locks. And don't be surprised to see the new Congress debating a thaw in the truck size and weight freeze.
For those in the logistics arena, 1998 came in with bang and went out with a blast with plenty of action in between. The bang came when Federal Express Corp. made final its acquisition of Caliber System to form FDX Corp., a $15 billion global logistics company. During the year companies were relying less on an array of different products to turn a profit and more on the speed and efficiency with which they could get them to markets around the world. Shippers continued to cite information technology, broader services and wider geographic coverage as their top priorities.
Nonunion carriers enjoyed a banner year in trucking, compared with their unionized counterparts. The exception was Teamsters-covered United Parcel Service, which rebounded from last year's strike by breaking its all-time annual net profit in the first nine months of 1998. A month-by-month breakdown of the year that was in trucking charts the dynamic trucking industry in 1998.
For railroads and their customers, 1998 was the year to get together and talk. The increased dialogue between the railroads and their customers was initiated by a host of service problems that actually began in 1997. Outreach programs sponsored by the Association of American Railroads acted as a release valve for frustrated customers. From a Wall Street perspective, management still must prove that they're capable of handling the continuing industry consolidation before financial faith in the industry is restored.
Canadian transportation companies will be glad to put 1998 behind them if 1999 shapes up to be any less trying than the last 12 months. Unfortunately the new year promises at least as many headaches for carriers and shippers. The Asian flu and Russia's economic woes have unsettled world trading patterns. The economic malaise has spread into Latin America and all of this has led to problems for Canada's export-import dependent economy. On top of the trade issues are forecasts of poorer economic performance in 1999.
By far the biggest ocean shipping story of 1998 was the passage of maritime deregulation legislation, although reregulation would be a much more accurate term. It's been a long, twisted journey for the deregulation effort and there's been quite a bit of difference between what was initially proposed about three years ago and what's going to be law come spring. The important piece of the regulation, as far as some big shippers are concerned, is that there can be private, secret deals that span all of the trade lanes. How this works out for smaller shippers and shipping lines remains to be seen.
Software companies and third-party logistics firms are taking Ben Franklin's sage advice - they are all trying to "hang together" to win the race to offer fully integrated supply-chain solutions. 1998 was the year for supply-chain mergers and partnerships. There were some other big issues too: the Internet and electronic commerce, the millennium bug and globalization stole some of the limelight. Analysts see many of the trends of 1998 continuing on in 1999 and beyond, with visibility through the supply chain remaining a driving factor.
Being high-tech and on the cutting edge is hip, but successful carriers in today's freight market also are predictable. That's why air carriers are projected to increase their share of the $65 billion U.S. time-definite transportation market next year, according to a study released by the Colography Group Inc. The ability to specify a transit time and meet that commitment is what separates winners from losers in today's freight markets, argued Ted Scherck, president of the research group.
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