Shipyard merger puzzle: Who will absorb whom? About all that seems certain in the American shipbuilding market is that the one-time "Big Six" will soon become the Big Three--or less.
Fire won't delay delivery of Voyager Of The Seas Kværner Masa-Yards says there will be no delay in the scheduled delivery and the subsequent maiden voyage of the Voyager of the Seas
McMullen to review not-so-fast B.C. ferry Gordon Wilson, minister responsible for BC Ferries, has appointed an independent marine engineering consulting firm, to conduct a detailed technical review of the design, construction and operational characteristics of the PacifiCat fast ferry program.
Atlantic Marine lands PSV order Atlantic Marine, Inc., Jacksonville, Fla and Astro Offshore Corporation, a subsidiary of Brazil's Astromaritima Navegacao have signed a contract to build a 233 ft x 54 ft x 20 ft Platform Support Vessel.
Tax threat to German shipbuilding A last-minute change to the German government's tax reform package could spell an end to the German GmbH & Co KG shipping fund model and also have a disastrous effect on the country's shipbuilding industry.
Dhaka election unrest FIRED UP: Opposition supporters marched through Dhaka with flaming torches yesterday, urging support for a 72-hour national strike planned to begin in Bangladesh today. Cargo movements at Chittagong, along with normal port operations, are expected to be disrupted. An alliance of three major opposition parties, including the Bangladesh Nationalist Party, the Jatiya Party and Jamaat-e-Islami, called the strike to oppose three-day municipal elections which are due to begin today. Alliance leaders are seeking the resignation of the chief election commissioner Abu Hena, who they have accused of pro-government bias. Mr Hena confirmed that army and paramilitary troops would be deployed at "sensitive polling stations" to protect law and order.
Fall in HSBC profits disappoints A clutch of fresh initiatives from HSBC Holdings was not enough to offset the stock market's disappointment with the banking group's lower-than-expected full-year profits.
Asia crisis hurts TBS performance TBS Shipping International has recorded a $5m net loss on revenues of $132m for the year to December 31, 1998.
US to unveil ports security watchdog A NEW high-level, inter-agency government body to vigorously attack problems of crime and security at US ports will soon be unveiled by President Bill Clinton, US Coast Guard commandant Admiral James Loy has revealed.
Fearnley's predicts 2% increase in major dry bulk cargoes FEARNLEY'S, Norway's leading shipbroker, has projected a 2% improvement for the major dry bulk commodity shipments measured in tonne-miles for 1999, and a 1% increase in shipments of crude oil.
Chinese box line launches charter foray AN aggressive foray into the charter market by China's largest domestic shipping operator, China Shipping Group, is under way in preparation for the launch of two new liner services later in the year.
Sanko picks Kawasaki for VLCC newbuilding Sanko Steamship has selected Kawasaki Heavy Industry to build the shipping line's first VLCC in decades, a ship that will be chartered to Exxon.
Nouveau succès d'ICF: train complet de bananes entre Anvers et Prague Après quelques semaines d'essais, commencés à la mi-décembre dernier, Intercontainer-Interfrigo annonce un nouveau train complet pour le transport de bananes depuis le port d'Anvers, cette fois en direction de Prague.
Le Havre entend poursuivre une offensive vers le centre et l'Est de l'Europe "Pour que le projet de nouvel avant-port soit valable, il faut des dessertes terrestres en conséquence et ce, pour tous les modes de transport. Des études en ce sens sont en cours et dès la fin mars nous devrions disposer des premiers résultats. Pour le port du Havre c'est une question essentielle car de plus en plus nombreux sont les armements qui nous demandent des renseignements dans le but de nous inscrire comme dernière escale. Avec les nouveaux postes à quai nous pourrons traiter simultanément navires-mères et feeder, le reste doit donc suivre du côté terrestre" a dit André Graillot, directeur général du PA du Havre au cours d'une récente conférence de presse.
Van Gend & Loos et le VDAB s'allient pour la formation de chauffeurs La pénurie de chauffeurs routiers en Belgique a incité la société de distribution Van Gend & Loos à coopérer avec le VDAB (le FOREM flamand) pour promouvoir la formation que celui-ci propose aux chômeurs. Selon Carine Deneyer, human resources manager de VGL, il est apparu que de nombreux chercheurs d'emploi ne connaissent pas les possibilités de formation offertes par le VDAB. L'initiative bénéfice du soutien du Fonds Social du Transport routier.
MUA calls Sydney stopwork Sydney members of the Maritime Union of Australia will be holding a stopwork meeting on Thursday to discuss P&O Ports enterprise discussions as well as other issues. The level of progress in those discussions has not been good, apparently not only in Sydney with a breakdown in discussions also reported in Melbourne last week. While Thursday's stopwork meeting will concentrate on P&O Ports issues, it will also be used to discuss latest developments as far as Patrick is concerned.
Austal rescues Oceanfast AUSTAL Ltd has bailed out fellow Western Australian shipbuilder Oceanfast Ltd, entering a Heads of Agreement to purchase Oceanfast's operating subsidiaries in return for the issue of one million Austal shares. The agreement covers subsidiaries Oceanfast Properties Pty Ltd and Oceanfast Marine Pty Ltd and is subject to shareholder approval. Austal said it believes that the operations of Oceanfast were complementary to its existing business and provide a number of synergies and growth opportunities. "In particular, Oceanfast's luxury motor yacht capability and production facilities are considered to be consistent with Austal's strategic objectives," the company said.
Freight Victoria wins V/Line THE Freight Victoria consortium was announced yesterday as the successful bidder for V/Line Freight, blowing its rivals away with an aggressive $163 million offer for the Victorian rail freight business. Victorian Premier Jeff Kennett said the Rail America-led Freight Victoria, which was advised by Macquarie Bank and includes Goninan and Fluor Daniel as minor stakeholders, would pay the government just over $163 million for V/Line Freight. It is believed that the next closest bidder -- Australian Transport Network -- offered $120 million for the loss-making operation, with the other losing shortlisted bidders -- Australia Southern Railroad and Victorian Great Central Railway -- offering substantially less.
Profit up but Finemore disappointed National trucking group Finemore Holdings yesterday described its half-year results as disappointing, despite posting a healthy profit jump for the half year ended 31 December 1998. Group operating profit before tax and abnormal items for the six months was up 14.26 per cent to $10.11 million, on a 30.33 per cent increase in sales from $139.824 million to $182.23 million. However, operating profit before abnormal items and tax as a percentage of sales for the half was down from 6.3 per cent last year to 5.6 per cent this year.
Unions rally to save Cairncross THE union covering workers at Keppel Cairncross's ship repair yard in Brisbane, the Australian Manufacturing Workers Union, is negotiating staff cuts and has agreed to a freeze on wages in an effort to make the yard more attractive to potential investors or buyers. AMWU assistant secretary Rene Veltmeyer said yesterday that negotiations over these and other changes at the yard were continuing with the voluntary administrators appointed by the Keppel Cairncross board on 22 January. The administrators, Rick Dennis and Angus Blackwood of professional services firm Ernst & Young, advertised for expressions of interest in the yard last week.
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