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Shipping News

Stowaways costing global shipping US$20m a year
STOWAWAYS are costing the global shipping industry more than US$20 million a year, according to leading marine insurance specialist UK P&I Club.
Truls L'orange is new Bimco sec-gen
P&O may cut capacity, raise rates in wake of profit plunge

Air and Land Transport

Probe focuses on tail; entire Airbus fleet to be checked
INVESTIGATORS deepened their probe of tail components on ill-fated American Airlines Flight 587, which crashed in the Queens borough of New York with the loss of at least 265 lives, as the airline agreed to inspect its entire fleet of Airbus aircraft.
Qantas to axe 2,000 jobs; cuts more overseas services
Lufthansa's 9-mth profit down 90%
Korean Air, Asiana post 4th straight quarterly losses
LOG Book

web site

Shipping News

Stowaways costing global shipping US$20m a year
STOWAWAYS are costing the global shipping industry more than US$20 million a year, according to leading marine insurance specialist UK P&I Club.
Truls L'orange is new Bimco sec-gen
P&O may cut capacity, raise rates in wake of profit plunge

Air and Land Transport

Probe focuses on tail; entire Airbus fleet to be checked
INVESTIGATORS deepened their probe of tail components on ill-fated American Airlines Flight 587, which crashed in the Queens borough of New York with the loss of at least 265 lives, as the airline agreed to inspect its entire fleet of Airbus aircraft.
Qantas to axe 2,000 jobs; cuts more overseas services
Lufthansa's 9-mth profit down 90%
Korean Air, Asiana post 4th straight quarterly losses
LOG Book

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China trade healthy despite 9/11 OOCL cuts winter schedules CP Ships acquire Nordana Line PSA staff see salaries slashed as throughput slowly recovers Two ports planned for Korea HK airport throughput decline Lufthansa records Q3 slump Alitalia and Air France launch alliance codeshare flights

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NOVEMBER 15, 2001
P&O Nedlloyd results: third quarter 2001 Nedlloyd result down 2,500 out at Iberia 1500 out at Qantas FFE demand for Cargo 2000 backing JAL falls back Deutsche Post with investment in MediaSec Technologies Logistics.com and SCT alliance

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NOVEMBER 15, 2001
US Gulf markets unsettled as crude oil falls Baltic ports offer most competitive bunkers again Healthy activity levels in the Great Belt/Skaw region Crude at 2-year low as OPEC makes production cut conditional, drops price band Piraeus and Istanbul follow softer price trend Bunker prices drop in Italy Markets softer in Gibraltar, Canary Islands Arab Gulf bunker price down after cargoes fall by $9.5 Singapore fuel oil prices plunge, then recover slightly OPEC's production cut may not happen just yet Sluggish demand in Japan despite weaker market Rotterdam morning market report Korean prices down $10-15 since Monday, buyers wait for further falls Hong Kong market expected to soften

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NOVEMBER 15, 2001
AOTOS award winners honored at ceremony in New York City Port of Seattle buying cleaner vehicles for Sea-Tac Airport Tacoma World Trade Center looking for auction items Port of Portland Commission Oks terminal agreement with Oregon Steel Mills Washington fruit growers speed donation to New York

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Bocimar and Zodiac launch cape crusade BOCIMAR and Zodiac have joined forces to create a super-pool of 75 capesize ships in an effort to drag the market out of the depths. "By creating this pool of capesize vessels, the eco... Berndsen leaves Meijer with Nedlloyd headache LEO Berndsen will step down as chairman of Royal Nedlloyd at the end of the year, leaving the company with unfinished business. The best chance to list the joint venture liner shipping compa... Bergesen creates bulk giant with General Ore A dominant force will soon bestride the market for very large bulk carriers following the decision by Bergesen and Richard Neu's General Ore to combine their fleets in a new company, writes T...

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NOVEMBER 15, 2001
Wide testing for Inmarsat Fleet 77 Funding pledged for Plate dredging Sasso leaves Royal Caribbean Argentina eases Customs regs Iridium dismisses durability fears Delays at Chennai hit feeders Oman seeks manager for Sohar Traffic slump signals hard times Canada floats shipyard aid Barcelona port closed by high winds Disease ship anchored off Genoa Nedlloyd's Berndsen resigns Yukos sale brings Kv'rner cash Star "restructures" salaries Bergesen forms bulk joint venture Izar workers strike deal BV head to call for stronger ships Troubled Lakshmi delivered today Affiliates make Mipo suffer Dannebrog eyes project cargo trade WA seeks bids for two-ship service Bid opens to extradite Virgo crew P&O Ned 3Q profits tumble

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NOVEMBER 15, 2001
Customs reform in WTO agenda In a breakthrough for international trading companies, customs reform was officially put on the agenda of the World Trade Organization. UPS expects no change in peak volume United Parcel Service expects to deliver more than 325 million packages globally between Thanksgiving and Christmas. P&O Nedlloyd profits sink in 3Q The container line saw an increase in box volume, but weakening rates hurt the bottom line. Schubert hearing focuses on Title XI Sri Lanka opens bunkering Shanghai sets logistics development China-backed HK firm sets logistics integration CP Rail, CP Ships in Montreal port deal Trailer Bridge sees $5.6M loss in 3Q Polar adds Seoul service; drops Taipei Sember new VP at ABS Conterm offers new US-Mexico service Port bill includes in-bond solution Airlines open cargo joint venture headquarters Port of Houston freezes tariffs Hapag-Lloyd acquires Aussie rail logistics group Freight trains collide and burn near Detroit Mobile gets ore crane

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Bocimar participe à la création du pool Cape International L’armement vraquier anversois Bocimar est une des parties impliquées dans la création du pool vraquier Cape International Inc., qui a officiellement entamé ses activités hier. Au sein de ce partenariat, Bocimar se chargera des contrats sur le marché spot, des finances et de l’adminstration. Benoît Timmermans, l’administrateur-délégué de Bocimar, a été nommé chief executive de Cape International. TLF veut lancer sa propre autoroute roulante transalpine La fédération Transport et Logistique de France (TLF) a annoncé qu’elle se proposer de mettre sur pied, dès le début de l’année prochaine, un service expérimental d’autoroute roulante entre Lyon et Turin, dont la capacité pourrait atteindre 40.000 véhicules par an. Cette expérience sera menée en partenariat avec des partenaires publics comme le Conseil régional Rhône-Alpes, et privés, comme les entreprises chimiques de la vallée du Rhône. Le PE épargne le travail portuaire et le pilotage dans la libéralisation des services portuaires Le Parlement européen s’est penché mercredi dernier sur la proposition de directive sur l’ouverture du marché des services portuaires. La proposition de la commissaire aux Transports Loyola de Palacio a finalement été approuvée à une faible majorité, mais dans une version quelque peu réduite. Ainsi, tant les services de pilotage que le travail portuaire ont été exclus du texte. Les décisions du PE ont été accueillies de manière mitigée par les différentes fractions parlementaires. Créer un réseau ferroviaire pan-européen en fonction d’une libre concurrence “Il faut évoluer vers une structure ferroviaire européenne, qui mette à l’écart la politique et les autres institutions qui défendent le statu quo au détriment d’une approche plus globale. Les intérêts nationaux doivent être sacrifiés dans l’intérêt d’une solution pan-européenne. Un cadre légal et fiscal doit rendre le rail attractif sur le plan des coûts. C’est ce que réclame l’industrie.” Gavin W. Roser, ancien general manager de Contship Overland et directeur du groupe Railfreight, a tenu, lors d’une des sessions de la conférence-exposition “Intermodal 2001” à Hambourg, des propos qui n’ont pas manqué de faire impression par la justesse du raisonnement avancé et la vision qu’a l’orateur d’un rail qui opérerait de manière efficace.

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NOVEMBER 15, 2001
Virgo crew facing extradition to US Cyprus has been shut out of the investigation despite being backed by international maritime laws. OSG boasts strong cash liquidity The tanker operator will take advantage of slumping economy if the opportunity arises. OSG chief hopeful of rate rebound Accelerated scrapping rate of old vessels will be the key to higher rates. CP Ships secures long-term rail service CP Ships and CP Rail extend their existing partnership for another 10 years. Zodiac joins Bocimar orbit Powerful new Cape International pool to control 75 bulkers of 12m dwt. LSC picks new general secretary Joseph Ludwiczak will succeed outgoing Richard Deely at the end of 2001. Nedlloyd chief Berndsen quits Top executive goes in wake of failed P&O Nedlloyd reverse takeover. BG grows its LNG interests Gas operations proved expensive for energy giant and LNG shipowner BG Group in the third quarter. CMHI pays parent for port companies Hong Kong shipowner buys two port firms from China Merchant Holdings. Bergesen and General Ore team up on bulk Consolidation rears its head in the large bulker sector as market worsens. Jacobs in talks on refinancing UK ferry and ports group makes statement on possible rights issue as share price rises. DFDS Seaways gets new chief Bo-Lennart Thorbjornsson (left) is replaced by Thor Johannesen (right). Trade downturn hits Gearbulk Profit halved as cargo drops by a million tons and freight rates fall. Profits slump for Sea Containers Ferry operator hit by UK disruption, and world economic fallout, but is full of hope for 2002. Jutha breaks loss cycle Thai liner firm's chairman Chanet Phenjati announces third quarter profits. ExxonMobil in tanker clearout rumour Oil major reported to have sold nine tankers in two sale and charterback deals. Bergesen profits continue on upwards Norwegian shipowner keeps the cash rolling in but warns of weaker prospects up ahead. Profitable run continues for Halim Mazmin Malaysian bulker owner's three new ships have boosted earnings further this year. K Line fails to meet slim profit target The Japanese shipping giant saw first-half earnings fall, despite revenue growth. Container crisis hits P&O Nedlloyd Anglo-Dutch line has seen third quarter profits slashed by poor market and new capacity. Mitsubishi stems financial losses Interim losses at Japan's largest shipbuilder have shown a sizeable reduction from twelve months ago. Bush backs oil stockpile hike US president orders Strategic Petroleum Reserve filled to 700m-barrel capacity. Interim losses jump 45% at MES The mid-sized Japanese shipbuilder has seen interim losses nearly double to JPY 3.1bn.