Smedvig rejects Esso claim over Balder FPSO project Smedvig, the Norwegian offshore drilling and services giant, yesterday formally rejected a NKr4bn ($507m) claim filed by Esso in the protracted wrangle over the Balder floating production vessel.
Death toll hits 30 after Mont Blanc tunnel fire Thirty people are a now believed to have died in the blaze in the Mont Blanc tunnel which started when a fire on board a lorry engulfed up to 30 vehicles.
South Korean shipyard shares fall from favour SOUTH Korea's biggest shipping lines look like good investments, but the country's shipyards are less pleasing prospects, says Richard Pyo, an analyst with CSFB Securities in Seoul.
Intercargo returns loss of $3.4m for 1998 DRAGGED down by lower investment income and a deterioration in its core marine business, US transport insurance specialist Intercargo Corp posted losses of $3.4m in 1998, a sharp reversal from the $31.8m in net income recorded the previous year. Revenues plummeted over the same period, dropping almost 50% to $61.3m from $112.2m in 1997.
US liner industry enjoys 'relative peace' claim Significant differences are emerging between shippers on either side of the Atlantic about how the liner shipping industry should be regulated.
Carriers blamed for the demise of conferences IN the opinion of Barry Horowitz, ocean carriers have only themselves to blame for the demise of the conference system, writes Janet Porter.
Europe/South America lines to raise rates Lines operating between northwest Europe and the east coast of South America have come to an informal agreement to raise rates in the light of "disastrous" results in 1998.
Japanese ports vie for cruises JAPAN'S Osaka Bay ports of Kobe and Osaka are vying for the patronage of Malaysia's Star Cruises, which is expected to deploy the Star Pisces to west Japan sometime this year.
Nigerian Ruler Signs Key Offshore Oil Law General Abdulsalami Abubakar, leader of Nigeria's military government, has reportedly signed a decree on exploiting deep offshore oil concessions, which is vital for development of vast new reserves. Abubakar's signature has been keenly awaited by Royal Dutch/Shell -- whose $8.5 billion oil and gas investment strategy over the next decade is dependent on approval for the law.
Osprey Looks To Restructure Debts In 1999 Osprey Maritime Ltd is reportedly aiming to restructure its debts and capital base in 1999.
Transroll Reports It Is Paying Shipbuilding Debts Transroll Navegacao reportedly dismissed recent press reports alleging it is facing bankruptcy over debts as misleading and said payments on borrowings it took to build ships are being made.
Thyssen-Krupp Mulls Sale Of Logistics Unit Thyssen-Krupp AG is considering selling its logistics activities either in part or as a whole to concentrate on its core business.
Kvaerner Aims To Sell SeaLaunch Stake Kvaerner is aiming to sell its 20 percent stake in the SeaLaunch commercial satellite venture.
Deutsche Post drove even deeper into private enterprise by purchasing the parcel and logistics division of Nedlloyd. The German post office just finalized the $1.1 billion buyout of Swiss forwarding giant Danzas on March 8, and 10 days later announced it was buying Nedlloyd European Transport and Distribution for $580.7 million. The purchase puts Deutsche Post into the back yard of KPN and its TNT Post subsidiary, and further livens up pan-European competition led by the rapid expansion of private postal authorities into the express business.
Rep. Jerrold Nadler, D-N.Y., remembers when New York City had seven daily newspapers, almost as many major breweries, two professional football teams and railroad competition. New York newspaper competition now is anemic, the breweries are gone and the Jets followed the Giants to New Jersey. As for railroad competition, Nadler could write a tabloid headline: "STB to New York: Drop Dead." Nadler intends to introduce legislation requiring the STB, in future decisions, to place more emphasis on encouraging rail-to-rail competition.
The Port of Long Beach is the largest port in the country and the sixth-largest in the world. It's not likely to give up either title any time soon. The port is doing record business these days owing to a strong U.S. economy and a weak Asian one. Managing its own growth is the major challenge facing the port as it builds the infrastructure needed to handle the 6,000-plus-TEU ships that already are starting to call. Growth has the public increasingly concerned about traffic and congestion around the port but the best way to alleviate that worry isn't easy to accomplish. The port could boost productivity and ease congestion by staying open 24 hours a day, but only if consignees are ready to receive the freight.
If there's an end to the booming Class 8 heavy sales market, the six top truck manufacturers don't see it. Class 8 sales in this country reached 209,483 last year, breaking the 1995 market of 201,304, according to figures supplied by Ward's Communications, Southfield, Mich. That's an 18 percent jump over 1997 sales figures, which were themselves the fourth-best sales year on record. There was a time, barely a decade ago, when 150,000 Class 8 sales in a year was considered unbreakable. Like the once unthinkable Dow Jones average in five figures, manufacturers are concluding records are made to be broken.
Burlington Northern Santa Fe believes better rail service in Mexico could soon translate into a bigger piece of the transportation pie for its grain business moving south of the border. U.S. railroads and shippers are seeing less damage and theft to their equipment, problems that at one time had been considered part of the cost of doing business in Mexico. And BNSF predicts that as service improves it will be able to take grain business off the Mississippi River and Gulf of Mexico and put it onto its tracks.
The transpacific is the Jekyll and Hyde of trade lanes. Outbound is plain sailing for transpacific shippers, but inbound is a nightmare with too much cargo chasing too little space. The trade has become even more schizoid with ocean deregulation and the effective collapse of two conferences, the Asia North America Eastbound Rate Agreement and the Transpacific Westbound Rate Agreement. Carriers from these cartels are throwing in their lots with the Transpacific Stabilization Agreement, which was slammed by the Federal Maritime Commission recently for alleged malpractice during last year's peak season.
Think discounts are only for the big guys? Think again. There are a number of companies out there dedicated to giving discounts on express shipping to small businesses. Through a partnership with Airborne Express, resellers like Unishippers and Worldwide Express get a bulk discount on express services for doing the sales legwork in the small business sector, a market Airborne does not emphasize. The shippers get the same services as any other Airborne customer, and often more personalized customer service.
In what may be a turning point for the onboard computing industry, Symbol Technologies and Qualcomm have teamed up to provide an onboard Windows-based computer which will potentially allow drivers to utilize a single hardware unit for all of their onboard software. The two companies will build an onboard Windows CE device that will link to Qualcomm's OmniTracs satellite network, giving drivers messaging, tracking and tracing capabilities in an easy-to-understand Windows format. In addition, because Windows CE is open-architectured, third-party software vendors and users will be able to easily program applications to work on the device.
Welcome to Brazil, land of the lost air cargo, where nearly prehistoric customs requirements and red tape keep the goods locked in a glacial age. But a financial crisis has a funny way of quickening logistics evolution. Enter descarga direta, or direct discharge, the missing link of speedier air cargo clearance in Brazil, that should cut costs and time for air cargo moving to, from or through the major airports for the country. To help keep the imports they have, and to prime the system and their shippers - current or hopeful - Brazilian transportation companies are starting to take advantage of some government speedy-cargo systems.
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