Mitsui OSK set to launch North Atlantic box service JAPAN'S Mitsui OSK Lines is to launch a transatlantic service early next year, partnering Singapore's Neptune Orient Lines after it completes the purchase of APL Limited.
US go-ahead for $825m takeover of American President SINGAPORE'S state-owned carrier Neptune Orient Lines (NOL) has cleared all hurdles covering its acquisition of APL Limited and expects to close the transaction on November 12, at which time the Oakland-based firm will become a wholly-owned subsidiary.
Maritrans income soars MARITRANS, the US-flag petroleum transport vessel owner-operator, sharply improved third quarter net income to $3.9m ($0.32 per share), up 160% on the 1996 quarter's $1.5m ($0.13) on revenues of $33.5m and $31.8m respectively.
Site earmarked for India box terminal INDIA'S first transhipment terminal for containers could be set up at Vallarpadam Island, off the southern port of Kochi, formerly Cochin, writes Shirish Nadkarni, India Correspondent.
Confident Bergesen set for impressive full-year result A THREEFOLD increase in Bergesen's third quarter profits has positioned the leading bulk shipping group for an impressive full year result.
Maritime issues raise record $1.2bn in Oslo A RECORD $1.2bn has been raised so far this year by maritime issues on the Oslo Stock Exchange, writes Tony Gray.
French snub for duty-free drive A LEADING French seafarers' union has condemned a demonstration in favour of duty-free sales called for next month in Brussels by a federation of European transport unions as an employers' "manipulation".
Brussels set for port policy compromise THE European Commission green paper on port policy is likely to be based on a compromise between commissioners with differing ideological views, a Belgian port boss said yesterday.
Italian truckers threaten to join French on strike ITALIAN truckers are expected to join their French compatriots on strike at the end of this week unless last minute talks can avert the action from spreading.
Firmer rates help lift Bergesen earnings FIRMER freight rates for big tankers and a strong dollar helped Bergesen shipping group to increase nine-month pretax profits by 30 per cent to Nkr 426m ($60m).
Two Scandinavian banking mergers in progress NORDBANKEN of Sweden has announced a merger with Finland's Merita Bank, and two Finnish state banks are to be merged.
FSA to help Philippines get on White List The Filipino Shipowners Association has signed a memo of agreement with the Maritime Industry Authority to help gain the Philippine's compliance with the STCW convention.
Myanmar's new container terminal to open on Sunday THE new Myanmar International Terminals Thilawa (MITT), in which Hong Kong's Hutchison Port Holdings (HPH) has an 80 per cent stake, will officially open on Sunday.
China Merchants sells MTL stake to subsidiary China Merchants Holdings International is to acquire the 20.3 per cent stake held by parent China Merchants (Holdings) in Modern Terminals in Hong Kong.
Cammell Laird preferred operator for Gibraltar CAMMELL Laird has been chosen as the preferred operator for Gibraltar Shipyard.
Plans for $42m port in Western Australia PLANS for a A$60m ($42m) private port have been unveiled by the Western Australian government to operate in competition with Fremantle.
Paul Gauguin's presentation cancelled The Hamburg presentation of Hapag Lloyd Seetouristik's newbuilding cruise ship Paul Gauguin has been cancelled because of its late delivery by builders Chantiers de l'Atlantique.
No more handouts, Australian shipping told AUSTRALIA'S maritime industry has been warned there will be no more government handouts, and industry leaders must either reform or face further decline.
Family breaks up Lorentzens Skibs MEMBERS of the Norwegian Lorenzten family have agreed to break up the assets of Lorentzens Skibs, the family-owned shipping and property group.
Prudential joins queue for Cunard PRUDENTIAL Corp's venture capital arm is holding talks with Kvaerner over Cunard.
St Lawrence Seaway on labour peace The Canadian Seaway Authority is confident that a new contract offer it is finalising for its 730 unionised workers will end any chance of strikes before the season's end.
Subic Bay bid between ICTSI and RPSI BATTLE for the winning bid for the Subic Bay container port has been trimmed down to ICTSI and RPSI - with a result expected on December 5.
Essar to order vlccs ESSAR Shipping, the Mumbai-based subsidiary of the Indian transport group, is ready to place orders for four vlccs.
India 'will reject seafarers tax plea' THE Indian government is expected to reject a proposal to exempt Indian seafarers from income tax.
Financial items lift Actinor's profit FINANCIAL items contributed the lion's share of the 20 per cent profits rise to Nkr 101m ($14.2m) reported by Actinor Shipping for the first nine months.
L&T to sell shipping division MUMBAI-based shipowner Larsen and Toubro (L&T) has decided to sell its shipping division, according to company sources.
Kvaerner confirms financing move SHIPBUILDER Kvaerner has confirmed Fairplay's November 4 report that it is in talks with banks to raise additional finance by factoring some of its newbuilding orderbook.
New report debunks MUA 'denial', says Reith Workplace Relations minister Peter Reith is using a new report, prepared by South Australian academic Dr Judith Sloane, to back his claim the MUA remains 'in denial' over the level of industrial disputation on the waterfront.
NRTC backs increase in mass limits In its 'barebones' recommendations to next week's Australian Transport Council meeting of state and federal ministers the NRTC has recommended increased mass limits for the road transport industry, a national bridge improvement program and harsh penalties for overloading.
Westrail now on the block? A Westrail-commissioned study has found there is merit in considering privatisation of the state government-owned rail system. Acting Westerail commissioner Wayne James revealed the findings at yesterday's opening sessions of the AustRAIL 97 conference in Melbourne.
ABS all-clear for NOL Amber The containership NOL Amber has received the all-clear from classification society ABS following her weekend grounding in Torres Strait, and is continuing her Australian voyage in the AAX service.
Fall in PSCs follows AQIS cuts Southbound conference lines will cut port service charges in Australian ports following reductions in AQIS container inspection fees - but will impose a $1/box administration fee, in line with forwarders and other industry service providers.
CASA overhaul dominates conference Former federal transport minister John Sharp has stressed the need for further reforms at the Civil Aviation Safety Authority. Mr Sharp delivered an introductory address last night at the "Safe Skies" conference, which is expected to be dominated by CASA issues.
BP junk bond deal suspended after market turbulence The marketing of a USD 347m high-yield bond issue to finance four new VLCCs for BP Shipping has been suspended in the face of recent turbulence in the equity markets.
Navix views rate hikes with caution Twenty or so years ago, Navix Line managing director Hirohiko Tanaka may have been tempted to order a few VLCCs to take advantage of high World Scale rates. But things have changed. He's in no big hurry to talk to yards, and would urge other shipowners to be just as cautious.
Swedish owner pulls plug on Indonesian shipyard United Tankers of Sweden appears to have lost patience with the PT Kodja shipyard in Indonesia. United Tankers has had a long-delayed product tanker on order there, but has now moved the hull to a rival yard in Singapore to get the job done.
Sun sets on once-great tanker name Troodos, a name once synonymous with the largest privately owned fleet of tankers in the world, will cease to exist in shipping by the end of this year.
Sumo duo weathers the storms Simon Hume-Kendall and Michael Jolliffe have been partners for a long time.Despite some problems of late in their various shipping activities, their partnership appears to be an enduring one.
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