Heung-A's New Box Ship Now in Service in Southeast Asian Route South Korea's Heung-A Shipping has taken delivery of the Heung-A Dragon, the last of the fifteen new buildings to have been built under the carrier's long-term management plan dubbed 'Vision 21.' The 1,032-TEU vessel has put into service from Busan to Hong Kong and Manila. Under the plan, Heung-A has replaced its fleet with new buildings. So far, two out of fifteen deployed in the Korea/Japan trade and thirteen out of thirty three put into Far East/Southeast Asia routes have been replaced with those built after 1995.
Navix Expects Improved Results for Fiscal 98 Navix Line, Ltd., though tramp market conditions still remain sluggish, has amended upward its ordinary income for fiscal 1998 to be ended on March 31, 1999. While revenue will remain the same as expected at '70 billion ($494 million) for fiscal 1998, its ordinary income will be '3.2 billion ($22.6 million), as compared with '2 billion, the figure originally estimated on May 22 1998 when the business performance for fiscal 1997 was announced, the company said. But net profit will fall to '100 million from the originally projected figure of '800 million, due to extraordinary loss of '2.7 billion on securities sold.
HK's River Trade Terminal to Be Operational in October Hong Kong's River Trade Terminal (RTT) will start operations on October 14, with a land area of 11 hectares and a quay length of 525 meters at the initial stage. The entire facility will be completed at the end of 1999, comprising 65 hectares of land and quay length 3,000 meters. Container handling capacity will be added up to 1.3 million TEUs by then. Hong Kong's river trade container volume amounted to 1.9 million TEUs last year.
Hoegh to Withdraw from Transpacific Service Leif Hoegh & Co. will withdraw from the transpacific liner services. the Norwegian shipowner will transfer its North America/Asia operations to Egon Oldendorff, a German shipowner. The two companies have agreed to the sale of the liner service of Hoegh Lines and its four 42,000-dwt multipurpose ships. The deal will be completed in two years.
Pertamina demands refund Indonesian state-owned oil and gas monopoly Pertamina will attempt to reclaim $60m in excess charter fees paid over the past decade to Pacific LNG Transport Ltd, a company controlled by former president Suharto's son, Tommy.
Hurricane estimates top $2bn Hurricane Georges, the relentless storm that has killed over 230 people in the Caribbean, continued its trail of devastation yesterday causing damage already estimated at up to $2bn.
Freight market difficulties impeding P&I club growth The West of England Ship Owners Mutual Insurance Association (the West of England club) expects membership to contract as a result of the difficulties in the freight markets, calling a halt the expansion experienced in recent years.
Colombo ship arrivals on increase A navy gunboat passes a container vessel in Sri Lanka's port of Colombo yesterday. The Sri Lankan Port Authority said ship arrivals had risen by 3% to 2,189 vessels in the first seven months of the year
Ports control deadline goal for Caribbean CARIBBEAN countries could have functioning port state control systems in place within three years, according to Curtis Roach, the maritime safety adviser to the region.
P&I warning on millennium OWNERS who knowingly send ships to sea with computer-related millennium problems may run in to problems with P&I cover, a senior Thomas Miller P&I executive has told shipmanagers.
Saudi ore contract goes to Klaveness NORWEGIAN dry bulk shipowner Klaveness has undercut Italian rival Coeclerici group to win a five year contract to supply iron ore to Saudi Iron & Steel Hadid's steel mill at Al Jubail.
Gas carrier alert in Pacific A REPAIR crew from Japan was yesterday attempting to restore power to the giant gas carrier LNG Bonny, which suffered an electrical failure some 200 miles southwest of Okinawa, writes Michael Grey.
China frees Taiwanese constraints TAIWANESE carriers have received permission from China's Ministry of Communications to combine port calls in China, Hong Kong and Taiwan on their main liner routes.
Search and rescue fund receives support AN international conference has called on the IMO to set up a specific search and rescue fund for global shipping.
Shipping could benefit from pollution agreement SHIPPING could actually benefit from the Kyoto Agreement on air pollution, according to Lex Burgel of the Dutch Ministry of Transport.
Astilleros de Huelva halts repayments SPANISH shipbuilder Astilleros de Huelva has suspended debt repayments following a non-payment dispute with ferry operator Islena.
Australia's Labor party says cabotage will stay PLANS to abolish cabotage arrangements in Australia will be scrapped by the opposition Labor Party if it wins the October 3 general election.
Australia on recession alert AUSTRALIA has been put on "recession alert" following news that its neighbour, New Zealand, has officially entered a period of recession.
Hong Kong's river terminal to open next month THE first operating area of Hong Kong's Tuen Mun River Trade Terminal will open next month.
Pacific Ports suffers from chairman's activities PACIFIC Ports suffered a first half loss of HK$135m ($17m), dragged down by a HK$173m exceptional loss resulting from the activities of former chairman John Chan.
Singapore consortium chosen for Kakinada A SINGPORE-based port operating consortium has been chosen to manage and develop the Kakinada port project.
Boxes up, tonnage down at Singapore ASIA'S economic turmoil led to an eight per cent fall in containerised tonnage through Singapore between January and July, despite with a nine per cent rise in teu totals.
Nedlloyd, DanTransport, Dubois et Saima Avandero constituent le réseau "E1" Nedlloyd, DanTransport, Dubois et Saima Avandero ont formé une alliance stratégique afin d'offrir des services logistiques intégrés paneuropéennes. Elle a été baptisée "E1" (prononcez à l'anglaise E one) Ils veulent de la sorte répondre aux nouvelles exigences du client actif à l'échelle européenne. Les quatre entreprises, qui avaient déjà des liens, représentent un CA cumulé de 3,2 mia. d'ECU.
Les actionnaires de TRW veulent lui donner un nouvel avenir L'assemblée générale annuelle de l'entreprise belge de ferroutage TRW s'est tenue mercredi. Si aucune décision n'a été prise, un certain nombre de principes ont néanmoins été admis. Ainsi, le conseil d'administration a été chargé de développer un plan pour la recapitalisation de l'entreprise. Le directeur par intérim, Marc De Weer, estime que la présence de 85% des actionnaires à cette AG est riche de promesses.
IRP table sur un trafic ferroviaire de 300.000 tonnes en 98 Le courtier en transport ferroviaire belge IRP (International Rail Partners s.a.), qui s'est spécialisé dans la desserte de la Russie et des autres pays de la CEI et d'Europe l'Est au départ de l'Europe occidentale, notamment d'Anvers, table pour cette année sur un trafic de 300.000 tonnes, contre 200.000 tonnes l'année dernière, pour autant que la crise en Russie ne prenne pas des proportions plus sérieuses. Le résultat du premier semestre démontre que l'objectif fixé a de bonnes chances d'être atteint.
Transfracht reprend le trafic Chrysler anversois d'Intercontainer Transfracht International (TFGI), filiale de la Deutsche Bahn, reprend à partir du 1er octobre prochain le trafic Chrysler d'Intercontainer. Il s'agit de l'importation de composants automobiles, via le port d'Anvers, à destination de l'unité d'assemblage de Graz, en Autriche. Une partie des volumes concernés est acheminée par Intercontainer par la voie ferroviaire. TFGI est en pleine restructuration suite à la reprise de NDX, avec comme points forts le changement de terminal ferroviaire dans le port de Barcelone et l'optimalisation du service Rotterdam-Barcelone. Hors du contexte NDX, un nouveau bureau va ouvrir très prochainement ses portes à Moscou. Bref, l'internationalisation de Transfracht bat son plein.
‘Sensible’ start to P&O, MUA talks PROGRESS on waterfront reform at P&O facilities is possible after yesterday’s talks between P&O Australia Ltd and the Maritime Union of Australia. The talks were held at the highest level between the chairman of the company, Richard Hein and the union’s national secretary, John Coombs. Mr Hein said that the discussions were "sensible." While Mr Hein declined to elaborate, Mr Coombs said that progress has been made and another meeting was likely this week. Mr Coombs said P&O might now give consideration to dropping its legal action against the union, action which until now had prevented any meaningful progress on waterfront reform discussions.
Quick contract coup for Patrick JUST ten days after halving its workforce and introducing radical changes to work practices, Patrick has reaped an early reward for its investment in reform by securing a prime South-East Asian consortium stevedoring contract. The Triple A group of Malaysia International Shipping Corp, Mitsui OSK, Orient Overseas Container Line and Pacific International Line will move both strings of its SEA service from P&O Ports to Patrick in Sydney, Melbourne and Fremantle, effective from early next month. In an announcement to the Australian Stock Exchange late on Wednesday Patrick parent Lang Corp said the two-year contract would increase company revenues by $30 million.
Labor launches maritime policy A LABOR government would "renew its approach of constructive engagement in the maritime industry", shadow minister for transport Lindsay Tanner said yesterday. Launching the Opposition’s maritime industry policy, Mr Tanner said that following a period of "bitter confrontation created by the Howard government", the ALP would move to ensure that all the relevant parties -- the unions, stevedoring and shipping companies and port authorities and users -- were involved in the reform process.
Oil spill culprits still at large THE Australian Maritime Safety Authority is still looking for the vessels which caused two oil spills off the Queensland coast last month -- one in the Whitsunday’s 900km north Proserpine and the other south of Cairns near the Frankland Islands. The Queensland Department of Transport has called in AMSA to assist with the search. The Ship Reporting System, mandatory for all vessels using the inner navigation route of the Great Barrier Reef, was used to determine which vessels had been in the north Queensland areas and since that time AMSA has been taking samples from possible suspect vessels.
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