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Shareholders okay Cosco shipyard foray
COSCO Investments Singapore Ltd's just-approved acquisition of China's biggest ship repair yard will contribute between 20-25 per cent of the group's overall profit, the SGX-listed company has revealed.
PSA boosting top post to face competition
US Navy boards tanker in Arabian Gulf
Finnish ferry runs aground
P&O Princess reaffirms Royal Caribbean acquisition plan
Japan bank awards 2nd phase of Batangas project to consortium
New Bermuda rules to protect shipwrecks

Air and Land Transport

US airlines ready for peak Christmas season
AFTER navigating Thanksgiving with flying colours, US airlines are bracing for the second round since Sept 11 of heavy traffic, this time over the Christmas holidays which began on Wednesday.
Govt won't extend insurance for Swiss airlines
EVA Airways names new president
M'sia airfare pact to be reinstated in February
Ansett sale plan vote on Jan 29
Rolls-Royce inks US$1b jump-jet order from Pratt
US Airways agrees to discuss fleet overhaul with pilots

web site

Shipping News

Shareholders okay Cosco shipyard foray
COSCO Investments Singapore Ltd's just-approved acquisition of China's biggest ship repair yard will contribute between 20-25 per cent of the group's overall profit, the SGX-listed company has revealed.
PSA boosting top post to face competition
US Navy boards tanker in Arabian Gulf
Finnish ferry runs aground
P&O Princess reaffirms Royal Caribbean acquisition plan
Japan bank awards 2nd phase of Batangas project to consortium
New Bermuda rules to protect shipwrecks

Air and Land Transport

US airlines ready for peak Christmas season
AFTER navigating Thanksgiving with flying colours, US airlines are bracing for the second round since Sept 11 of heavy traffic, this time over the Christmas holidays which began on Wednesday.
Govt won't extend insurance for Swiss airlines
EVA Airways names new president
M'sia airfare pact to be reinstated in February
Ansett sale plan vote on Jan 29
Rolls-Royce inks US$1b jump-jet order from Pratt
US Airways agrees to discuss fleet overhaul with pilots

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Seymour is NYNJ port authority new director Crowley gives bird to Cuba Oy - its the new Schenker Express EU-China Civil Aviation Cooperation Project on track Danzas to form Japanese JV with AEI Maruzen FedEx fuels changes Airbus reduces UK job cuts

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DECEMBER 20, 2001
CEO Eurotunnel to leave FedEx' net increased 26 per cent after subsidy EU-US Banana war ended Cathay pilots to resume campaign No opposition to airline merger Hawai Boeing, Airbus discuss security issues

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Move to facilitate shipping fleet expansion - Sec. 33 AC benefits may be linked to co's net worth Kerala passenger shipping service for Gulf soon Rubber imports may exceed 25,000 tonnes Tea export target may prove elusive Vietnam to be partner country for industrial fair Import restrictions worry rubber-moulded product exporters SKIL urges Gujarat govt to hike stake in Positra SEZ Mechanised coal handling rates at Paradip Port New handling records established at Vizag Port in December Chennai feeder operators slash 'Immediate Congestion Surcharge' CWC's ICD-Vapi inaugurated - Trade, industry to get major boost Sinha hints at steps to further ease M&A regime Move to extend export sops to public limited firms TN to house food park soon Ministries hold divergent views on palm oil duty NITMA seeks lower duty on textiles Navi Mumbai SEZ awaiting Centre's nod, CM informs Maran in letter RBI forms panel for credit data operations Sinha observes recovery signs 2 firms vying to set up gems, jewellery park Powerlooms extended capital subsidy of 12 pc under TUF: Rana K. K. Nohria at Assocham helm

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DECEMBER 20, 2001
US Gulf prices buck firmer trend, but could rise fast Bad weather expected for Istanbul this weekend Firm Singapore market tight till late December Mixed demand reported in Korea, prices firmer Japanese market busy after beating Singapore on price Hong Kong and Taiwan firmer today, mixed avails Montevideo and Alpha Zone bunker prices Poor cows Mixed avails in Pacific Northwest markets Tight year-end in LA and San Francisco on big demand

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DECEMBER 20, 2001
Genesee & Wyoming takes over Emons BAA: lower throughput TNWA to Xiamen CSAV and Montemar upgrade services New: Reefer Express Service ArgoGood - a new ro/ro service Nordana deal off Good results for Misc Higher throughput at Tanjung Pelepas Zim to Port Said

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DECEMBER 20, 2001
Carnival results hit by 9/11 events Carnival Corporation reported quarterly and full year results severely impacted by the 9/ll effect, but in line with analysts' expectations Conoco to develop deepwater field A $600 million development project is planned for Magnolia

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DECEMBER 20, 2001
Portland Airport adds direct service to Mexico Coast Guard Cutter HEALY back home in Seattle today Coast Guard offering safety training before opening of Alaska crab season U.S. Naval Intelligence gives Maritime Information Service a call Royal Caribbean stands by deal forged with P&O Princess

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Porti, salta il contratto unico Attesa in tempi brevi una circolare del ministero che potrebbe anticipare il pronunciamento del Tar Fra il Rina e Bv rotte le trattative

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Yards win another six LNG carriers CONTRACTS for six more liquefied natural gas carriers with a value of almost $1bn have been awarded, rounding off what has been a spectacular year for the sector. P&O Princess dutifulness questioned CARNIVAL yesterday suggested that P&O Princess may be failing in its fiduciary duty to shareholders through being precluded from discussing the £3.2bn takeover proposal by its larger US rival. Arrest warrant for Erika master is unjust says lawyer A FRENCH lawyer has attacked as unjust a decision by the magistrate investigating the Erikadisaster to issue an international warrant for the arrest of the master of the wrecked tanker. Lloyd's faces European fight over regulation BRITAIN is preparing to fight a legal challenge by the European Union to the way in which the Lloyd's market is regulated.

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DECEMBER 20, 2001
Humber incidents mount Argentine meltdown hits maritime ITF dismisses pay freeze suggestion Terminal charges for China US ports get security boost Pemex outburst 'plays well at home' Carnival 4Q profit down 40 per cent Cosco backs China repair move Greeks succumb to Baltic pressure RINA closes door on BV Norwegian ferry firms to merge Novoship sell ships to state port Adsteam counters price-hike outcry Cosco signs spares deal with Yanmar On-off LNG terminal cleared to open Poor pay turns Indian pilots away Oz cruise terminal re-opens Renaissance gathering in Marseilles French boost Baltic presence Grounded ferry taken under tow US company puts offer on the Plate Kværner rescue plan wins approval USN frees boarded tanker ILO mulls 'drastic decisions' French order arrest of Erika master

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DECEMBER 20, 2001
Senate passes port security bill After months of intense negotiations, the Port and Maritime Security Act of 2001 quietly passed the Senate Thursday afternoon. Kitty Hawk sells charter division The all-cargo airline won approval of a federal bankruptcy court in Dallas to sell its charter division. Zim shifts Singapore calls PSA Corp. saw its Singapore container terminals suffer another blow as Zim Israel Navigation Co. announced it is switching its Asia-Mediterranean-Pacific service to the much smaller Port of Jurong in western Singapore. American Airlines Cargo to end fuel surcharge, raise cargo fee Target scores with home delivery Evergreen establishsd Seafarer Training Center Expeditors: Ocean up, air down Colombo transshipment traffic dips in October ShipChem changes name to Cendian

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Hino en pourparlers avec MAN ... ou avec Scania? L’hebdomadaire allemand Manager Magazin a révélé que Toyota a entamé des négociations avec un des principaux actionnaires de MAN, Allianz AG Holding, dans le but d’explorer d’éventuelles coopérations avec la branche “Camions” du groupe automobile japonais, Hino. Toyota a toutefois immédiatement réagi en qualifiant ces informations de “pures spéculations”. Ceci n’est pas étonnant: selon nos sources, haut-placées et proches du groupe Volkswagen, c’est avec Scania que Hino discuterait... à l’initiative du groupe suédois. Depuis quelques semaines, les informations sur des négociations exploratoires ou non font régulièrement surface, de sorte qu’il ne fait pas de doute que de nouvelles grandes manœuvres de concentration ont à nouveau commencé. Flessingue rafle 350.000 t de pâte à papier à Anvers Que Flessingue soit devenu un concurrent direct d’Anvers dans le secteur du breakbulk n’est pas nouveau. Toutefois son agressivité s’accentue et vient une fois de plus de se manifester en s’accaparant d’un trafic annuel de 350.000 t de pâte à papier que traitait jusqu’ici le port scaldien. Ce transfert interviendra dans le courant des prochains mois. DFDS Tor Line acquiert le contrôle de Lys-Line Rederi Comme brièvement annoncé hier, DFDS Tor Line va acquérir en date du 1er janvier 2002 une participation majoritaire de 66% dans l’entreprise maritime norvégienne Lys-Line Rederi AS. L’opérateur roro, qui mettra environ 150 millions de NOK sur la table dans ce cadre, renforcera ainsi sa position en mer du Nord (plus précisément en ce qui concerne les routes de et vers la Norvège) et accentuera sa diversification vers d’autres types de trafic comme les containers. L’offre de services de DFDS Tor Line et Lys-Line resterait inchangée. Les deux armements sont actifs sur la route entre Gand et la Scandinavie. FedEx: bénéfices en hausse d’un quart Au cours du deuxième trimestre fiscal, le transporteur de colis FedEx a enregistré une hausse de son bénéfice de 26% par rapport à la même période de l’an dernier. La baisse des prix de carburant et la compensation que l’autorité américaine a accordé à l’industrie aérienne après le 11 septembre, ont fait grimper le bénéfice net à 245 mio. d’USD au cours du trimestre qui a été clôturé le 30 novembre dernier. Les revenus d’exploitation de FedEx ont augmenté au cours du deuxième trimestre de 4,9%, de 4,9 mia. d’USD à 5,14 mia. d’USD.

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DECEMBER 20, 2001
ACLN vessel ownership under fire The car transportation firm has no comments on the controversies over Sea Atef ownership. ACLN stock nosedives NYSE allows trading to go on despite a 76% price fall and more than 9m shares traded. Amer Reefers bondholders to consider cash Kristian Siem and Vroon may exchange their bonds for cash after failing to control Amer Reefers fleet. Sampo boost for Gard Deal with Finnish group adds 1,000 hulls to Norwegian based marine insurance group. ITF rules out wage freeze Labour federation insists on AB pay rate moving up to $1300 a month. CP Ships secures $250m bank credit Another $100m credit facility is to be placed by Citibank in the first quarter of 2002. UK inspectors flag up poor cargo stowage Port state control pulled in 11 ships in November, hanging onto 10 more from previous months. Baltic ferry crisis over Crippled Viking Line vessel towed to port. Carnival hit by terrorist fears Booking slowdown takes big bite out of cruise line earnings. HMM eyes car carrier unit sale Cash strapped Korean owner in plan to offload one of its businesses to cut debt. Northern Navigation questions Borgestad Shareholder calls for check on board of Oslo-listed shipowner. Brostrom converts option to order New COAs result in a two tanker deal for Ferus Smit shipyard. Stealth closes in on VLCC charter Owner Harry Vafias says he is lining up a bareboat deal for a planned bid on the Diamond Echo. Cosco warns of profit fall Shareholders give thumbs up to repair yard buy, despite lower returns. Baltic ferry aground and holed But 818 passengers and crew on storm hit Viking Line vessel are safe. Pacific trades see third highest month ever October eastbound box traffic down on September, but still strong despite economic woes. SembCorp confirms Dalian yard stake Singapore repairer pays $8.3m for 20% stake in Dalian Cosco Marine Engineering.