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Shipping News

HK shipowners plan war risk insurance club mutual
INSURANCE premium hikes have led Hong Kong shipowners to plan a new industry-funded war risk insurance club mutual to offset skyrocketing costs.
New box terminal to be built at Shekou
Klang signs sister port pact with Chilean port
Kwai Chung's June container traffic up
Australia bans some cattle shipments

Air and Land Transport

British Airways may allow foreign majority ownership
BRITISH Airways asked shareholders to allow Europe's biggest carrier to be majority owned by foreign investors for the first time in an arrangement that would keep voting control with UK investors.
US air passenger traffic down 8.4% in June
Shenzhen, Hong Kong airports to help each other
Yen rise will boost Japanese airlines' profit
Australia considers aid for freight industry
Penang's airfreight forwarders hopeful of better times ahead
Log Book

Features

On the slow boat to privatisation
PRIVATISATION of India's largest shipping company, Shipping Corporation of India , has suffered a setback with foreign investors pulling out of the race.

web site

Shipping News

HK shipowners plan war risk insurance club mutual
INSURANCE premium hikes have led Hong Kong shipowners to plan a new industry-funded war risk insurance club mutual to offset skyrocketing costs.
New box terminal to be built at Shekou
Klang signs sister port pact with Chilean port
Kwai Chung's June container traffic up
Australia bans some cattle shipments

Air and Land Transport

British Airways may allow foreign majority ownership
BRITISH Airways asked shareholders to allow Europe's biggest carrier to be majority owned by foreign investors for the first time in an arrangement that would keep voting control with UK investors.
US air passenger traffic down 8.4% in June
Shenzhen, Hong Kong airports to help each other
Yen rise will boost Japanese airlines' profit
Australia considers aid for freight industry
Penang's airfreight forwarders hopeful of better times ahead
Log Book

Features

On the slow boat to privatisation
PRIVATISATION of India's largest shipping company, Shipping Corporation of India , has suffered a setback with foreign investors pulling out of the race.

web site

Shipping News

HK shipowners plan war risk insurance club mutual
INSURANCE premium hikes have led Hong Kong shipowners to plan a new industry-funded war risk insurance club mutual to offset skyrocketing costs.
New box terminal to be built at Shekou
Klang signs sister port pact with Chilean port
Kwai Chung's June container traffic up
Australia bans some cattle shipments

Air and Land Transport

British Airways may allow foreign majority ownership
BRITISH Airways asked shareholders to allow Europe's biggest carrier to be majority owned by foreign investors for the first time in an arrangement that would keep voting control with UK investors.
US air passenger traffic down 8.4% in June
Shenzhen, Hong Kong airports to help each other
Yen rise will boost Japanese airlines' profit
Australia considers aid for freight industry
Penang's airfreight forwarders hopeful of better times ahead
Log Book

Features

On the slow boat to privatisation
PRIVATISATION of India's largest shipping company, Shipping Corporation of India , has suffered a setback with foreign investors pulling out of the race.

	web site

Elite International expands China logistics services Hanjin strengthens China-America Express Panama demands advanced notice for fissile material cargos Sri Lanka Customs makes progress in clearing P&O Nedlloyd upgrades West Africa service Cathay Pacific releases June cargo figures showing growth Lufthansa and Expedia announce strategic agreement Coyne Airways launches service to Sakhalin Island BA and SN Brussels to form commercial airline

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JULY 17, 2002
Better conditions Hanjin at PSA terminal Hanjin and PSA said they have agreed to finalise the current negotiation to extend their current long-term partnership. Continental second quarter loss Continental Airlines reported a second quarter net loss of $35 million ($0.55 diluted loss per share) excluding a previously announced fleet charge and write down of its government grant receivable, which compares favorably to the First Call estimate of $0.76 loss per share. Southern China ports 20 per cent growth expected Driven by China's soaring export growth, container traffic at southern China's booming Shenzhen ports is expected to rise by 20 per cent this year to six million units, exceeding previous forecasts. Expensive agreement UPS with Teamsters UPS finally agreed with the Teamsters on a new six year contract to replace the pact that expires July 31, an expensive move in order to avoid strikes. BA pessimistic about current quarter Lord Marshall, chairman of British Airways, warned that the group's first-quarter results, to be reported in August 2002, would reflect continuing soft market conditions and economic uncertainty. Brussels and Deutsche Post clash about fine Deutsche Post AG will not be allowed to make a compromise solution to the repayment of 572 million euros in what the European Union Commission has judged to be illegal subsidies, people close to the German postal-services and logistics giant said.

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SCI to sign deal with HPCL for transporting 8-9 MT crude Provisional anti-dumping duties slapped on PSF imports Kolkata Port Trust notches up 9.71 pc traffic growth during April-June 2002 TPT trying to rope in PSA Corp to operate & manage new box terminal Ilmenite sand loading record set at Vizag Port Air cargo rate cuts on cards Govt drive pushes up exports to LatAm nations by 50 pc Rising Euro cheers exporters India to become booming market for food processing machinery: US market research body Forex reserves cross $ 58-bn mark DEPB rate hike for stainless steel, HR sheets likely Easier credit norms for exports to Iraq ECGC profit soars by 30 pc to Rs 46.04 crore - ...tie-up with Coface CII organising seminar about "Careers Unlimited" on July 19, 20 MEDC seminar on 'Ports & Shipping' on Saturday Taiwan product catalogue show on July 18,19 CIAe calls for EGM of AEPC EMI organises talk on 'managing receivables with letters of credit'

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JULY 17, 2002
Steady markets in Montreal and Halifax Healthy demand in US East Coast markets Daily Bunker market report from Praxis Energy Some avails problem in New Orleans, Houston ok New Ecuador posted prices African market scan US oil demand outlook Mexico to up crude production Oil production overhang Fujairah market stabilises Rotterdam bunker market steady this morning Bunker prices from Russia and Ukraine Mixed feelings in Hong Kong Crude steadies after big US product builds counteract drop in crude inventories Crude up yesterday as Iraqi oil exports dropped again, US refinery trouble Avails back to normal in Suez Some improvement in avails as posted prices in Saudi Arabia firm

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JULY 17, 2002
Evergreen appoints three new agents in East Med and Adriatic AirRep Cargo Europe adds more destinations to its Russian trucking network SAA Cargo benefits from additional slots at Heathrow TPG Business unit Cendris UK wins GBP 10-million contract with T-Mobile in UK DB Cargo AG and Contship Italia S.pA to set up a joint venture Con-Way Transportation Services adds more next-day and second-day delivery services Rhenus and Dettmer set up joint company Swisslog AG wins contract from Coca Cola Amatil BMS Logistica Ltda: new joint venture for automobile logistics Finnair expands its route network

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JULY 17, 2002
Third T-AKE for NASSCO General Dynamics' National Steel and Shipbuilding Co., San Diego has been awarded a $289,891,274 contract modification for design and construction of the third T-AKE Class. Keppel buys Verolme Botlek Singapore's Keppel FELS Limited, has signed a preliminary agreement . to acquire an 85% interest in Dutch offshore repair and conversion shipyard, Verolme Botlek European Commission approves Italian tanker subsidy The European Commission has decided to authorize an Italian aid scheme granting an incentive to shipowners for the elimination of single hull tankers over 20 years of age.

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JULY 17, 2002
United Parcel Service agrees to tentative deal with Teamsters Greenbrier sees $2 million loss for third fiscal quarter Port of Portland helps sponsor celebration of city's connection with river Kenneth Smith named manager of Port of Astoria marinas Crowley delivers shipment of Washington apples to Cuba

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Corus has market in ore with CSN deal ANGLO-DUTCH steel producer Corus yesterday unveiled a potential tie-up with Companhia Siderurgica Nacional of Brazil in a move that could shake up trading patterns in the dry bulk sector. Salvage work begins after 11 die in rig helicopter crash Salvage operations have started in the UK's southern North Sea following Tuesday's helicopter crash that cost the lives of two crew and nine oil workers. Moore Stephens stalks big four as accounting shake-up looms specialist shipping accountancy firm Moore Stephens will raid large corporate audits from the big four accountants if British and US regulators opt for a compulsory rotation of auditors.

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JULY 17, 2002
Former navy chief held in ship scam Naples imposes maintenance tax Ports must be more logistical Patience runs out on STCW Spanish agree on gas plant control Hanjin to sign deal with PSA Corp BC Ferry Corp to go overseas Port state system needed in MidEast India regulator slams ports policy Dutch appoint new ministers Aboitiz staves off ejection HDW's Lederer under investigation Greek seafarers take on government Malaysia Mining to buy PTP stake Keppel to acquire Verolme Botlek Montevideo hit by tug sinking

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JULY 17, 2002
ILWU makes technology proposal The union offers to trade some jobs for control of all remaining positions after new technology is implemented at West Coast ports. Holt CEO won't oppose liquidation A turnaround specialist agrees to a plan to convert the troubled company's Chapter 11 proceedings to Chapter 7. ' 'Not so fast,' say Holt's unsecured creditors China extends regs comment period The deadline for comments on maritime regulations designed to implement a controversial new law was extended to July 31. Turnaround for CNF JoC Online parent acquires TRADE Inc. Port of Seattle restructures P&O in Shenzhen terminal deal AMR sees $465M loss House committee wrangles with MSP Forward Air better in 2Q BNSF ends wheat rate program Record revenue for USA Truck Pay hike for Bangladesh port workers June lifts Cathay Pacific cargo

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Accélération de la hausse du transport de fret à partir de 2003, selon Prognos Le transport de marchandises va à nouveau vivre des jours meilleurs à partir de l’an prochain. Telles sont du moins les prévisions du bureau d’études de marché suisse Prognos dans le cadre d’une enquête sur l’évolution du trafic de fret et de personnes à court et moyen termes. Le transport routier réalisera la plus forte progression. Le centre de gravité des activités d’Ostende se déplace des passagers vers le fret Jusqu’à il y a peu, le port d’Ostendee était de loin le principal port à passagers du pays. La disparition de la Régie du Transport maritime a porté un coup dur à Ostende, qui ne s’est jamais véritablement remis de cet uppercut dans ce segment de marché. Le port s’est dès lors orienté sur le fret roro. Avec succès. Mercedes-Benz va intensifier la globalisation de sa division “V.U.L.” Avec une part de marché de 19% en Europe de l’Ouest, Mercedes-Benz figurait l’année dernière en tête de la liste des constructeurs actifs dans le segment des camionnettes jusqu’à 6 tonnes. En 2001, la marque avait produit 249.000 véhicules utilitaires légers (y compris la classe V), dont 81% ont été vendus sur le marché européen. Mercedes-Benz veut modifier cette proportion dans les années à venir, en mettant davantage l’accent sur une globalisation de ses produits. Feport veut une approche sécurité diversifiée par port Feport, l’association européenne d’opérateurs de terminaux et de manutentionnaires souligne une nouvelle fois dans un communiqué que l’aspect sécurité dans les ports européens ne peut devenir un argument de concurrence. Le groupement prend donc une position officielle dans le débat sur les mesures de sécurité proposées par l’OMI pour les ports, fortement inspirées par les EU. Feport plaide pour un cadre international uniforme pour tous les ports mais permettant une analyse des risques pour chaque port individuellement, afin de pouvoir ensuite prendre des mesures de sécurité adaptées.

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JULY 17, 2002
Tsakos defends weak stock price Recent price fall is attributed to general market weakness. USCG roots out fake merchant marine papers US federal agencies arrest two shipping agents for falsifying sea mariner documents. Cruise stock seen undervalued Morgan Stanley recommends new investment in Carnival and Royal Caribbean stock. Suez Canal pulls in less revenues The slow canal traffic is blamed on weaker global economy and higher fees. Shipping income dying away at Keppel T&T Singapore owner's unwanted boxships suffer from falling charter rates in first half. General Dynamics stock price falls This is despite stronger net earnings in the second quarter. VLCC rates jump as tonnage tightens Is it yet another monthly blip or the start of something with a bit more depth? Ships segment boosts Northrop's income The ships segment reports higher second quarter sales and operating margin. Greenpeace sues France over scrap ship Environmental pressure group steps up the heat in row over asbestos hazard ro-ro. Lysfoss grounding prompts Lys-Line rethink Norwegian owner tightens procedures following UK accident investigation. HDW yard chief under investigation German fraud probe hangs over former Babcock Borsig head Klaus Lederer. Polys upbeat on tanker market Expansionist Greek owner Polys Haji-Ioannou is expecting a rates upturn before the end of this year. Formosa poised to double VLCC fleet Taiwanese owner books four large tanker newbuildings at Japanese yards. Sohmen inches up Bergesen stake World-Wide Shipping head and Norwegian owner have largest appetites for Bergesen stock. No deal yet for Hanjin Shipping at Singapore Korean owner denies reports it has agreed to stay at port for another 10 years. China Shipping opens for VLCC Mainland giant seeks large tanker for bareboat period charter. Nenaco puts labour agreement on hold Philippine ferry owner and Iloilu union suspend collective bargaining deal until next year. Japan in highest order intake for seven years It wasn't only having a good World Cup. Yards were finishing off best first quarter since 1996. Keppel acquires Verolme Botlek Singaporean group has taken a majority stake in Dutch offshore repair and conversion yard. Canadian repairers face ferry refit fight British Columbia yards are battling against low cost Asian competition for a major domestic contract.