Sea-Land to be split into three units SEA-LAND is set to be split into three divisions, chief executive officer John Clancey has confirmed, in a move that is sure to fuel further speculation that the US carrier's international operations may be sold.
Four dead after plane crash Four people were killed and 27 rescued yesterday when a plane plunged into the sea after overshooting the runway at Genoa airport, writes Giovanni Paci, Italy correspondent. The German-built Donier 328 twin turbo-prop, operated by Minerva Airlines, had flown in from Cagliari, Sardinia, with 27 passengers and 4 crew members on board.
Stolt-Nielsen restructure opens acquistions door Leading chemical tanker group Stolt-Nielsen SA is positioning itself for a series of mergers and acquisitions through a sweeping corporate restructuring which could eventually lead to the flotation of its transportation interests.
Allianz to set up London firm GERMAN insurance giant Allianz will set up a new holding and reinsurance company for its European marine, aviation and transport business, most likely in London, writes Herbert Fromme, Germany Correspondent.
Doubts over Hidrovia river system claims MANY if not all of the operators on South America's river system are set to lose money because the system's potential has been vastly over-estimated, one of the leading barge and river boat players has claimed.
Buyers eye Edinburgh Castle Buyers are already circling the British cruiseship Edinburgh Castle, which was seized by the Royal Bank of Scotland this week for non-payment of debts, writes David Mott.
Restructuring costs take toll at Stena Line BADLY hit by restructuring costs both in Sweden and on the English Channel, Stena Line has plunged into the red with a SKr324m ($39.9m) pre-tax loss last year.
NYK refinances pair of panamax bulk carriers Tokyo-based Nippon Yusen Kaisha (NYK) has sold two small panamax bulkers as part of an internal financing deal, as well as a capesize.
Monday is decision day at Newcastle The future of the dispute affecting the Newcastle Eastern Basin Distribution Centre is now expected to be decided on Monday. The divisional director of Toll Logistics, Don Telford, told DCN yesterday that the company had received a response from the Maritime Union of Australia to its earlier correspondence in which the company warned it would have to take legal action if the union continued to interfere with its business. Mr Telford said the union had asked for more time to consider the matter and the company was prepared to wait until the loading of the reefer Maunakea starts on Monday.
Rotterdam at Fremantle Holland America Line's "Flagship of Excellence" the Rotterdam berthed at Fremantle for several days last week, bringing one of the world's best examples of floating opulence to Victoria Quay. The 62,000 gross tons, 238-metre vessel, which is now en route to South-East Asia, was built at the Fincantieri shipyard in Monfalcone, Italy, and has a replacement value of over $350 million. The ship, which gracefully combines classical European craftsmanship with state-of-the-art technology, also showcases a $17 million collection of art and artefacts from around the globe.
NZ crewing dispute settled The New Zealand Seafarers Union has put jobs before money and agreed to a range of concessions to ensure the new tanker Kakariki is Kiwi-manned. Following its eleventh-hour withdrawal of legal action against the operator of Coastal Tankers' new 40,000 DWT tanker, the NZSU, and unions representing New Zealand's ship officers and engineers have ratified an agreement ensuring the company's three-ship fleet will be manned by NZ nationals.
NR looks to Darwin National Rail has emerged as a player in one of the three consortia vying for the right to build the billion-dollar Alice Springs to Darwin rail link. The government-owned rail freight operator confirmed on Friday it was a non-equity partner of the Northlink consortium, which includes Thiess Contractors, the Commonwealth Bank and BHP Engineering. However, NR was reluctant to detail plans for the rail link, saying only that it recently firmed up its role in the group which would enable it to become the freight operator of the line if the Northlink bid was successful.
Hunter Towage takeover expected to take a week Waratah Towage is expected to move fast if and when it receives approval from the Australian Competition and Consumer Commission (ACCC) to take over Hunter Towage Services Pty Ltd in Newcastle. It is expected that the takeover will be completed within a week of the approval being granted. Matters relating to the takeover have been in suspension over the past few weeks, including talks with maritime unions on redundancies, while the ACCC decision is being awaited.
Red dragon roars again CHINESE SHIPYARDS have taken a hammering over the last year as they struggled to win orders but now there are signs that times may be improving. Cosco is ordering five containerships at Nantong and Dalian is in talks with Stena to build four 12,000-dwt ro-ros while Jingjian Shipyard is close to winning the country s first order from Syria. Elsewhere, P&O Nedlloyd and Hapag Lloyd are contemplating orders for up to 10 containerships and Grimaldi of Italy is planning to order more multi-purpose ro-ro ferries.
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