Review softens Budget tax blow CHANCELLOR Gordon Brown has dashed hopes of a swift introduction of tonnage tax in the UK, after warning in his Budget speech yesterday that further independent study was necessary. The question will now be considered by Lord Alexander of Weedon, chairman of National Westminster Bank.
Sterling still hopeful of ultimate success BRITAIN'S leading shipowner, Lord Sterling, yesterday expressed his disappointment at the chancellor's decision to call for a review by Lord Alexander on the hoped for tonnage tax regime for British ships, writes Michael Grey.
Frontline unveils cost-cutting plan John Fredriksen's Frontline has unveiled an ambitious cost-cutting programme together with a range of options to further improve its liquidity.
Wijsmuller Salvage links up with Perdana Netherlands-based Wijsmuller Salvage has moved to reinforce its position in the Far East by joining forces with Singapore salvage company Perdana Salvage & Towage.
Budget setback for tonnage tax lobby Chancellor Gordon Brown's decision to submit the proposed UK tonnage tax to an independent review surprised and disappointed the British shipping industry yesterday.
Intertanko joins call for new convention on bunker spills Independent tanker owners' organisation Intertanko is backing calls for a new bunker convention as spills from non-tankers become increasingly prevalent.
Spain seeks Korean yards action SPAIN will propose at the next industry ministers' council in April that the European Union takes inmediate measures to defend European shipbuilders from what is alleged to be unfair competition from South Korea rivals.
Cosco joins transpacific pricing discussions COSCO Container Line has joined the Transpacific Stabilisation Agreement (TSA), bringing an unprecedented level of industry commitment to the liner service discussion group.
Le marché de l'affrètement de PC aura du mal à récupérer Intéressant rapport que celui que vient de publier le groupe de courtage maritime Barry Rogliano Sales sur les évolutions des marchés de la construction navale et des navires selon les différents secteurs d'activités, rapport qui couvre l'exercice écoulé et aborde également les perspectives pour 1999. Le document en question met l'accent sur un aspect essentiel, à savoir que les carnets de commandes des chantiers n'ont jamais été aussi bien fournis qu'aujourd'hui pour la bonne raison que les armements entendent profiter de la chute considérable des prix de la construction navale. On a assisté à un effondrement des prix de vente de la plupart des navires standards, de 15 à 30% en fonction de leur type, de leur taille. Seuls les navires de croisières ont échappé à cette tendance. A la fin du troisième trimestre de 98, le canet des commandes avait atteint un record avec 57,7 mio. de tonneaux, ceci malgré la crise et les difficultés de financement.
Levage: Van Seumeren veut aller en bourse La société de levage et de transports lourds et surdimensionnés Van Seumeren Holland a l'intention de faire son entrée en bourse dans les trois ans. Cette opération est destinée à accroître les activités, entre autres par croissance externe. L'entreprise a déjà procédé récemment à une première opération capitalistique ces dernières semaines, ABN Amro Participaties ayant acquis un peu plus d'un tiers des actions.
Novatrans: 1998 fut une année en demi-teinte Les résultats 1998 de transport de la société française de transport combiné rail/route Novatrans sont en demi-teinte: le trafic est en léger retrait, d'un peu moins de 2%, le nombre de véhicules transportés étant de 399.038. Toutefois, le chiffre d'affaires s'élève à 705 mio. de FRF (107,4 mio. d'EUR), en progression de 6,2% par rapport à 1997, et le résultat financier sera positif et proche des prévisions.
Plusieurs transporteurs routiers allemands joignent leurs activités de groupage Afin de développer un réseau européen, l'organisation de coopération CLI International Logistics a été créée en Allemagne. Pour les 19 membres, la CLI sert de tremplin à une expansion européenne. Dans ce contexte, le propre réseau fera partie d'un groupement commun avec un seul point de marketing.
Disruptions hit ASP fleet The Australian merchant fleet continues to be focus of industrial attention with the fleet of vessels under the control of ASP Ship Management now subject to industrial action. Failure to progress in enterprise agreement negotiations has promoted the Australian Institute of Marine and Power Engineers to impose 24-hour bans on all vessels in the fleet of about a dozen ships.
Delay for Austal's Oceanfast buy Austal Ship's plans to annexe the operations of grounded luxury yacht and commercial builder, Oceanfast, may be delayed while administrators search for options to complete a $52 million tug construction project. Work was suspended on the tug contract last week after a delay in the delivery of engines from Japan prevented Oceanfast from claiming an $874,000 progress payment from Adsteam.
NR mines bulk sector National Rail has secured another major long-term haulage task in the bulk commodities area, announcing last week it had started carrying copper for the first time as part of a recently signed contract with new customer, Western Mining Corporation. Under the previously undisclosed deal, the mining group has chosen rail transport over its current task provider, road transport, for the haulage of raw refined copper 'cathodes' from the Olympic Dam mine in South Australia's mineral and energy-rich north-west region, to Adelaide and NSW.
Sydney rail split nears realisation Rail Access Corporation's proposed $500 million program to ease freight train congestion and capacity constraints in Sydney has moved a step closer to becoming a reality, with works to separate passenger and freight trains through Sydney's Flemington area almost complete. The NSW rail track landlord confirmed this week that the $31 million grade separated junction at Flemington -- the hub for freight services into and out of Sydney -- had been progressively commissioned over the past few months.
High-speed agreement signed Federal Transport Minister John Anderson has announced the signing by the federal, NSW and ACT governments of the long-awaited Heads of Agreement' document confirming the Commonwealth as the lead government in negotiations with its preferred bidder to construct the Sydney-Melbourne fast train link, Speedrail.
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