Box Traffic on Japan/China Route Keeps Growing Container traffic between Japan and China in July 1999 rose 4.8% over a year earlier to 91,617 TEUs, achieving a seventh consecutive month of increase. Containerized exports from Japan marked a two-digit year-on-year increase of 10.8% with 27,920 TEUs, while a growth rate of imports from China remained at 2.4% with 63,697 TEUs. Accumulated total for the first seven months amounted to 657,960 TEUs, up 19.2% from the corresponding period of last year.
COSCO Pacific Reports Flat Mid-Year Revenue, Profit Hong Kong-based COSCO Pacific Ltd., the container leasing and terminal operating unit of the China Ocean Shipping (Group) Company (COSCO), reported flat net profits and revenues for the first six months of this year. Profit slightly rose 0.1% to $67 million, while revenue dipped only 0.6% to $108 million. Its utilization rate of the leased container fleet was 96%, well above the industry average of about 80%. Throughput at the container terminals operated or partially owned by COSCO Pacific increased 27% during the period to 2.68 million TEUs. While container volumes handled at the Yantian terminal in South China grew remarkably, up 64% from a year before, those at the COSCO-HIT terminal in Hong Kong declined 1% on a year-on-year basis.
Yusen Air Announces Upward Revision on Business Results Yusen Air & Sea Service Friday announced an upward revision on its projected mid-term and full year business performance for fiscal 1999 ending March 31, 2000. On the mid-term basis, revenue is expected to amount to 25 billion yen from the previous projection of 24 billion revealed in May, ordinary income to 940 million, and net profit to 495 million from 270 million. For full fiscal 1999, revenue was adjusted to go up to 51 billion from originally projected 50 billion, ordinary income to 1,940 million from 1,450 million and net income to 1,020 million from 750 million. The Asian economies have been recovering faster than expected with a surge of computer- and semiconductor-related shipments from Japan and cost-saving efforts and effective space-purchasing also contributed to improved results, the company said.
ResidenSea near to Fosen yard deal Bahamas-registered ResidenSea is very close to naming Norway's Fosen Mekaniske Verksted as the builder of its long-delayed $260m luxury cruiseship vessel, The World.
Royal Caribbean to raise $400m ROYAL Caribbean Cruises plans to raise $400m through a share offer to help support its newbuilding programme.
Members slam capacity deal THE Association of Lloyd's Members, the mainstream group representing Lloyd's names, has criticised the Council of Lloyd's and Cox Insuarance Holdings over what it describes as a scam that has short-changed members providing capacity for the nuclear syndicate 1176.
MIF blames depressed market for 64% profit fall Tanker company MIF Limited, one of the highest-flying operators in the sector in terms of returns last year, has reported a 64% reduction in profits so far this year after a poor second quarter.
Plan had 'high level backing' A CHINESE master staged his own abduction at knifepoint to hoodwink his crew into participating in a people- trafficking mission, a US court heard last week.
Report delayed as clubs enter discussion The Liverpool & London Steamship Protection and Indemnity Association has delayed the publication of its annual report and accounts for the 1998/99 policy year.
Accounting firms develop specialties in international trade, customs rules If a shipper needs help with a problem involving international trade or customs rules, there's a good chance he'll ask an accounting firm.
Online auctions come to ocean shipping Two online markets for ocean-carrier services will debut this month. But will shippers and carriers be interested?
Truckers continue job action at Baltimore port
Lloyd's finds director of Fenchurch guilty of misconduct
OTR Express names new vp sales and marketing
Transit Group forms new logistics division
Hong Kong Customs officials net largest haul of pirated video discs
Maritime
Slater's 20-year maritime plan may come this week Transportation Secretary Rodney Slater's Year 2020 maritime infrastructure report, overdue to Congress since July 1, has been completed and could be unveiled as early as this week. Slater, in an Aug. 30 letter, informed maritime executives he recruited to help write the report that final editing has been completed and that they will receive printed copies in early September.
Private port operators face fee limitations Indonesia's drive to improve efficiency of its ports through privatization may be blunted by its political determination to retain control of charges. The House of Representatives in Jakarta, the nation's capital, said port companies and their strategic partners are not entitled to set port service tariffs, including container terminal charges, even after privatization.
Feeder operators encounter resistance to surcharges
Ocean rates rise for India, Pakistan, Europe run
Shippers see benefits from consolidation
Insurance
Equitable becomes AXA Financial AXA Financial Inc. is the name for the new holding company that includes Equitable Life Assurance Society of the United States, Alliance Capital Management LP, and Donaldson, Lufkin& Jenrette Inc. The company said the name was selected because it reflects the company's position as a provider of diversified financial services.
Insurance industry told to get online Though insurers are beginning to embrace electronic commerce, an IBM executive warned that the pace is too slow. "My biggest concern for this sector is that it's not moving fast enough into the e-world," said Ginni Rometty, general manager of IBM's global insurance sector.
Seattle port to seek $11 million for reimbursement of Y2K costs
Accounting firms develop specialties in international trade, customs rules If a shipper needs help with a problem involving international trade or customs rules, there's a good chance he'll ask an accounting firm.
Online auctions come to ocean shipping Two online markets for ocean-carrier services will debut this month. But will shippers and carriers be interested?
Truckers continue job action at Baltimore port
Lloyd's finds director of Fenchurch guilty of misconduct
OTR Express names new vp sales and marketing
Transit Group forms new logistics division
Hong Kong Customs officials net largest haul of pirated video discs
Maritime
Slater's 20-year maritime plan may come this week Transportation Secretary Rodney Slater's Year 2020 maritime infrastructure report, overdue to Congress since July 1, has been completed and could be unveiled as early as this week. Slater, in an Aug. 30 letter, informed maritime executives he recruited to help write the report that final editing has been completed and that they will receive printed copies in early September.
Private port operators face fee limitations Indonesia's drive to improve efficiency of its ports through privatization may be blunted by its political determination to retain control of charges. The House of Representatives in Jakarta, the nation's capital, said port companies and their strategic partners are not entitled to set port service tariffs, including container terminal charges, even after privatization.
Feeder operators encounter resistance to surcharges
Ocean rates rise for India, Pakistan, Europe run
Shippers see benefits from consolidation
Insurance
Equitable becomes AXA Financial AXA Financial Inc. is the name for the new holding company that includes Equitable Life Assurance Society of the United States, Alliance Capital Management LP, and Donaldson, Lufkin& Jenrette Inc. The company said the name was selected because it reflects the company's position as a provider of diversified financial services.
Insurance industry told to get online Though insurers are beginning to embrace electronic commerce, an IBM executive warned that the pace is too slow. "My biggest concern for this sector is that it's not moving fast enough into the e-world," said Ginni Rometty, general manager of IBM's global insurance sector.
Seattle port to seek $11 million for reimbursement of Y2K costs
Accounting firms develop specialties in international trade, customs rules If a shipper needs help with a problem involving international trade or customs rules, there's a good chance he'll ask an accounting firm.
Online auctions come to ocean shipping Two online markets for ocean-carrier services will debut this month. But will shippers and carriers be interested?
Truckers continue job action at Baltimore port
Lloyd's finds director of Fenchurch guilty of misconduct
OTR Express names new vp sales and marketing
Transit Group forms new logistics division
Hong Kong Customs officials net largest haul of pirated video discs
Maritime
Slater's 20-year maritime plan may come this week Transportation Secretary Rodney Slater's Year 2020 maritime infrastructure report, overdue to Congress since July 1, has been completed and could be unveiled as early as this week. Slater, in an Aug. 30 letter, informed maritime executives he recruited to help write the report that final editing has been completed and that they will receive printed copies in early September.
Private port operators face fee limitations Indonesia's drive to improve efficiency of its ports through privatization may be blunted by its political determination to retain control of charges. The House of Representatives in Jakarta, the nation's capital, said port companies and their strategic partners are not entitled to set port service tariffs, including container terminal charges, even after privatization.
Feeder operators encounter resistance to surcharges
Ocean rates rise for India, Pakistan, Europe run
Shippers see benefits from consolidation
Insurance
Equitable becomes AXA Financial AXA Financial Inc. is the name for the new holding company that includes Equitable Life Assurance Society of the United States, Alliance Capital Management LP, and Donaldson, Lufkin& Jenrette Inc. The company said the name was selected because it reflects the company's position as a provider of diversified financial services.
Insurance industry told to get online Though insurers are beginning to embrace electronic commerce, an IBM executive warned that the pace is too slow. "My biggest concern for this sector is that it's not moving fast enough into the e-world," said Ginni Rometty, general manager of IBM's global insurance sector.
Seattle port to seek $11 million for reimbursement of Y2K costs
Frans Maas reprend la logistique EDC de HIM Furness Les groupes néerlandais Frans Maas et HIM Furness ont atteint un accord de principe quant à la reprise des activités logistiques de Furness par Frans Maas. L'accord concerne les centres européens de distribution (EDC) au Benelux, en France et au Royaume-Uni, ainsi que les représentations aux Etats-Unis et à Taiwan. La division beaucoup moins importante de logistique portuaire de Furness n'est pas impliquée.
Gand: MBI Beton s'installe sur l'ancien chantier naval de Langerbrugge Le port de Gand va acquérir de nouveaux trafics grâce à l'implantation sur le site de l'ancien chantier naval de Langerbrugge d'un des plus importants producteurs de dalles en béton européen, à savoir MBI Beton, qui va déménager ses activités de Grammont à Gand. Dans une première phase, l'implantation impliquera un investissement de 600 mio. de BEF (15 mio. d'eur), qui passera par la suite à un mia. dans le cadre d'une seconde phase.
Leman reprend le groupe suédois Continex L'entreprise suédoise Leman International System Transport AB a repris Continex Spedition en début de semaine. Cette filiale de Ziegler renforce ainsi sa présence entre l'Allemagne et la Suède.
La confusion règne dans les partenariats TEAM L'alliance TEAM existe-t-elle encore? "Oui", dit-on à la SNCB: "Avec un chiffre d'affaires de 1,63 mia. d'EUR, ABX Logistics est la figure de proue de l'Alliance TEAM et compte le rester". "Non", dit Alain Bréau, PDG de Mory Team et président en exercice du steering comittee (SC) de TEAM: "Je dois prononcer l'exclusion de la SNCB/ABX car elle a modifié ses alliances hors SC, en outre en contradiction avec le principe de base de TEAM, qui est de n'avoir qu'un partenaire par pays". Selon lui, il faudra un an pour que soit démêlé l'écheveau des partenariats et des contrats qui sont aujourd'hui parfois devenus contradictoires.
Mitsui Orders Three Containerships Japan's Mitsui O.S.K. Lines Ltd. has ordered three Post-Panamax container ships for delivery between March and September 2001. The three ships, to be built by Japanese shipyard Imabari Shipbuilding Co Ltd., will have a capacity of 5,500 teu. The ships would be deployed in the company's Asia-North Europe service run with partners APL and Hyundai Merchant Marine.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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