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Shipping News

Colombo port set to reverse slump in cargo volumes
CARGO volumes at Sri Lanka's Colombo Port are expected to fully recover by December despite being devastated last month by insurance hikes following terrorist bombings at the capital's airport in July.
Ikan Tanda close to being refloated
Unfair of shipping firms to raise premiums: KL minister
Ports of Auckland to cancel shares, return NZ$132m

Air and Land Transport

Air NZ's bankers agree to support rescue plan
AIR New Zealand said yesterday its bankers agreed to support a rescue plan to keep the unprofitable national carrier flying, paving the way for the government to take control.
Crucial week for Swissair as Crossair mulls options
Cambodia's airline postpones all operations
Lufthansa looks at 4-day work week
Rolls Royce denies report it's planning to cut 4,000 jobs
Canberra to use up to A$50m for Ansett staff entitlements
Int'l firms vie for Korean military jet orders

web site

Shipping News

Colombo port set to reverse slump in cargo volumes
CARGO volumes at Sri Lanka's Colombo Port are expected to fully recover by December despite being devastated last month by insurance hikes following terrorist bombings at the capital's airport in July.
Ikan Tanda close to being refloated
Unfair of shipping firms to raise premiums: KL minister
Ports of Auckland to cancel shares, return NZ$132m

Air and Land Transport

Air NZ's bankers agree to support rescue plan
AIR New Zealand said yesterday its bankers agreed to support a rescue plan to keep the unprofitable national carrier flying, paving the way for the government to take control.
Crucial week for Swissair as Crossair mulls options
Cambodia's airline postpones all operations
Lufthansa looks at 4-day work week
Rolls Royce denies report it's planning to cut 4,000 jobs
Canberra to use up to A$50m for Ansett staff entitlements
Int'l firms vie for Korean military jet orders

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China Shipping joins rate groups US proposes legislation for hazardous material Penavico predicts 11 per cent marine trade growth NOL Group appoints CIO Cosco's new vessels delivered Dongguan exports high in first eight months Hong Kong Airport Authority welcomes logistics policy China aviation looking fine Swissair posts interim schedules

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OCTOBER 15, 2001
Europe critical about US airline subsidizing Swiss tax payer to rescue Swissair Airports demand for state insurance aid 'Money for Air New Zealand' 'UPS to leave LCL company' Hutchison majority in ECT

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Maersk Logistics completes acquisition of DSL Proline International LLC appoints Interglobe Marine as agents in India Euro Container Lines completes year of dedicated service to trade Basmati exports may exceed 7 lakh tonnes Telecom gear export surges by 222 pc to Rs 580 cr. Californian grapes enter Indian market Grain exporters hold an edge over Pak Oilmeal exports dip by 20 pc KLM, Northwest rearrange India flights Concor increases ICD-Nagpur-JNPT trains to 4 a week Forex reserves up by $ 65 million to $ 44,769 million Medium-term export package may reveal focus on new products, destinations Govt to upgrade food processing 4 pc SAD on petro-products may be imposed Credit figures show industrial recovery! MoF mulling 5 pc service tax on EEZ too Inflation plummets to year's low Singapore seeks EPA with India Forex reserves swell by $ 210 m Vasudev tipped to be next Finance Secy India to supply 1 mt wheat to Afghanistan Rakesh Mohan resigns as advisor to Finance Minister

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OCTOBER 15, 2001
Congestion and bunker prices ease in the ARA region New supplier/trader in Latvia Keen selling in Singapore brings prices down sharply, more volatility ahead Brazil bunker prices steady Crude still bearish on September 11th fallout, No OPEC emergency meeting New trader/broker incorporated in the Philippines Korean spot market under pressure from slow demand New company listing in Turkey

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75th Fiata Congress DFDS Tor Line sells one more ro-ro vessel ECSA annual report 2000 - 2001/press conference Brussels - 22 October 2001 Panama Ports Company, s.a. takes delivery of new RTGs China revises port fees Newly established Shenzhen Senbang reports rapid growth OTAL upgrades West Africa services India's foreign trade figures Hong Kong airport fee reductions extended six months CargoLifter lift tests

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OCTOBER 15, 2001
Petty officer David An receives Coast Guard Medal in Seattle Arlington medical response crew receives governor's lifesaving honor Department of Commerce adds program to warn exporters of foreign trade rules Portland port commissioners postpone airport noise compatibility study Giant Union Pacific locomotive will steam through six states this month

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US probes Lloyd's over terror pay-outs LLOYD'S faces a key test of the strength of its reinsurance arrangements as part of an investigation by US regulators. John Oxendine, chairman of the reinsurance committee of the Nati... Liberia flag set to duck sanctions in imminent UN report A LONG-awaited United Nations' report into the activities of the Liberian International Ship and Corporate Registry is to be presented to the UN sanctions committee on Friday before a Securit... Bush to bail out American insurers for future attacks THE Bush administration is drafting a new plan to aid US insurers hit by last month's attacks on New York and Washington that could see the government temporarily assume most of the risk for ...

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OCTOBER 15, 2001
Third world seek trade concessions CSA and ACS sign co-operation deal Masters 'need management skills' Caribbean catches US's cold Med freight rates plummet US port security task force urged Noell may build cranes in Malaysia Ship managers seal merger Germany on ship-board terror alert Osaka terminal operators merge WA preaches transhipment War spells see-saw for Indian trade Daewoo-Mangalia profits to double Computer chaos at Bremerhaven Atlantic calls it a day Ningbo to target Japan Cruise crisis hits Mumbai Brazil's Mid-East trade falters LA faces tough 'green' controls Job cuts over, says Royal Caribbean

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OCTOBER 15, 2001
Airlines mull cost cuts Lufthansa is considering a four-day work week to avoid layoffs while Iberia will trim capacity to save $150 million over the next two years. Insurance crisis could close Europe airports "within days": ACI Europe's airports warned that they could be forced to shut down unless governments help to close gaps in insurance coverage. Swissair deal may stall A plan to create a new airline from the remains of bankrupt Swissair is in danger of falling apart after the Swiss government and banks failed to agree on who should cover start-up costs. Koch: Beefed-up security will force industry to adjust RailAmerica to acquire StatesRail Malaysia says rail upgrade should bring freight boom Maersk Logistics completes Distribution Services deal Bigger ships for Safmarine's U.S.-Africa route CargoFacts conference rescheduled Bonner headlines Customs symposium Treasury slates Customs meeting Air France trims fuel surcharge IANA takes over Intermodal Expo

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OCTOBER 15, 2001
Travel insurer pulls Royal Olympic coverage The move is prompted by the financial difficulties the cruise operator is facing. Norwegian shipbrokers revise outlook Tanker rates are expected to drop in 2002 due to weaker demand and record high newbuilding delivery. UK Club orders 20% rate hike Aleco Kairis warns significant increase needed to safeguard free reserves. Size matters for Anglo-Eastern Five months after merging with Denholm, ship manager Anglo-Eastern outlines the philosophy behind the move. Royal Caribbean cancels itinerary Nordic Empress's departure from Philadelphia on Sunday was cancelled due to a storm delay in Bermuda. Hyundai Vinashin wins first newbuilding Vietnam's largest shipyard has moved into shipbuilding gear, as gears up its skill for planned tanker orders. Graig teams up on China shiprepair business UK owner beefs up its Shanghai office with another joint venture but its ambitions do not stop there. ACLN expands car shipping service Cuxhaven and Sheerness ports are added to the company's ports of origination. Star Reefers sells off older ships Reformed reefer operator is cleaning up its fleet by disposing of older tonnage. Alaskan LNG plan still intact Yukon Pacific cuts its staff from 12 to two, but LNG plan is still alive. TT Club goes fixed premium Container shipping insurance club abandons supplementary calls. NAT profits hold up Daily earnings for its suezmax tankers are slipping, but Nordic American Tanker is still in the money. Unitor issues profit warning Top ship supplier hit by post terrorist attack downturn. Bangladeshi breakers bond to prop up prices Scrap buyers have overstocked themselves and are considering joining forces to restrict imports. DFDS Tor Line sells ro-ro Danish owner concludes sale and charterback deal as it moves to improve the age and flexibility of its fleet. Banks consider HMM bond buy Hyundai Merchant Marine will know on Tuesday whether lenders will take on KRW 200bn of its debts. VLCC scrap prices come under pressure Pakistan scoops two large tankers for demolition, but owners may have to lower their price expectations. Austal inks newbuilding orders worth $25m Aussie fast ferry firm secures orders for four ships from Hong Kong and the US plus options.