Cyprus bank set to back shipmanager A NEW Cypriot-owned shipmanagement group being established in Nicosia appears to have won support from a leading state-controlled financial institution.
Kramek to join ABS Americas ADMIRAL Robert Kramek, who retired last Friday as commandant of the US Coast Guard, has been appointed president of ABS Americas division. He will take over the divisional headquarters of the classification society in Houston, which administers 600 ABS surveyors, engineers and support staff throughout Northern, Central and Southern America, writes Michael Grey, Athens.
Shipping shares 'on the brink of a recovery' THE shipping sector is on the threshold of a stock market rerating after several years of under-performance, according to SBC Warburg Dillon Read.
Record land deal to aid Yangming YANGMING Marine has sold a prime piece of Taipei real estate at record prices to keep the company in the black this fiscal year.
Durban delays anger box shippers MAJOR international container lines trading to South Africa, exasperated by the continuous delays and inefficiency at the country's ports, are lobbying for action.
Police halt Greenpeace protest GREENPEACE'S summer offensive against the oil industry's development of the Atlantic Frontier has begun with an environmental protester chaining himself to the Shell-chartered rig Ocean Alliance, 145 miles north of Kristiansund, Norway.
Sembawang seals giant merger SINGAPORE Technologies Industrial Corp (STIC) and Sembawang Corp are to merge to create a giant marine and integrated services group.
Russia fires Chernyayev in oil sector crackdown THE Russian government has fired Valery Chernyayev, president of national oil pipeline monopoly Transneft, and announced that Sidanco subsidiary Udmurtneft will be put into bankruptcy by June 12 if it does not cough up unspecified tax arrears.
Hughes-Hallet moves up at Swire Pacific JAMES Hughes-Hallett, the current chairman of the Hong Kong Shipowners' Association, has taken over as deputy chairman of Swire Pacific.
Shanghai shipping centre shapes up THE emerging international shipping service centre within the Shanghai Shipping Exchange may be officially launched in July.
Two Singapore corporations to merge SINGAPORE'S shiprepair sector is to be transformed through the merger of two of the Republic's major corporations.
Yang Ming sells land to boost bottom line YANG Ming Marine has sold a prime piece of land in Taipei for NT$2.5bn ($74.3m) to lift figures into the black for the financial year ending June 30.
China Shipping focuses on Guangzhou CHINA Shipping Group is to consolidate its dry bulk and tramp operations in the south China city of Guangzhou.
Penang Port to slash workforce PENANG Port has offered its workers a 'generous' voluntary redundancy package in an effort to cut its 2,000-strong workforce by up to a third in the next 18 months.
Maltese ferries delayed THREE ferries under construction for Gozo Channel Co at Malta Shipbuilding have fallen behind schedule.
Lunetta charged after criminal investigations FORMER Miami Port director Carmen Lunetta has been charged by federal prosecutors following criminal investigations into financial mismanagement at the port.
North of England reaps merger rewards THE merger between the North of England and Newcastle P&I clubs on February 20 this year has brought a significant improvement to the North of England's financial position.
US Senate agrees to hearing on Jones Act THE chairman of the Senate Commerce Committee has finally agreed to hold a formal hearing on legislation that would change decades of protection for US coastal shipping.
Intercargo owners run safer ships, claims chairman SHIPS owned by Intercargo members are four times safer than the average," claimed Sverre Tidemand, who was unanimously re-elected chairman today.
Singapore improves safety level SINGAPORE'S PSA Corp reduced its injury accident rate by 45 per cent in 1997 despite a 9.2 per cent increase in the number of containers handled during the same year.
Philippines to build coal terminal STATE-owned Philippine National Oil Co-Coal Corp (PNOC-CC) will build a central coal terminal in Cagayan de Oro City, Mindanao this year.
Passenger improvement hits funding shortage THE new monitoring system that aims to improve passenger shipping in the Philippines domestic trade faces a funding trouble.
Aaserod fails in Igloo financing bid CAMBRIDGE group of companies, headed by Norwegian businessman Bjorn Aaserod, has failed to arrange financing to buy the seven Igloo lpg carriers from Bergesen.
PSA Corp signs for automated vehicle system PSA Corp has signed a deal to develop a navigation system to operate Automated Guided Vehicles at Singapore's container terminals.
Nygaard takes helm at Premier Cruises JON-Erik Nygaard, former md at Color Line, has been appointed ceo of Premier Cruises.
Oil boost from Orinoco VENEZUELA'S first extra-heavy crude upgrading project expects to sell its first shipment of crude from the Orinoco Oil Belt in October.
Fredriksen buys three more ulccs JOHN Fredriksen is reported to have purchased three more ulccs.
Master fined for not carrying pilot THE master of a bulk carrier has been fined A$5,000 ($3,100) for navigating without a licenced pilot in a compulsory pilotage zone off north-eastern Australia.
China releases hijacked tanker CHINESE authorities have released the formerly hijacked tanker Petro Ranger and its crew of 20 after a month-long detention in the south China port of Haikou.
Niche players struggle as shipping roles shift In an environment of poor results for liner operators the fortunes of medium and smaller carriers depend on the viability of their niches - and in the trade from Australia-South East Asia viability is not good according to the regional director of P&O Nedlloyd Tom Boardley. He told the 14th annual ICHCA conference in Sydney that "The Asian situation is putting even more pressure on carriers and those domiciled in the region my find themselves stretched to find capital for the future fleet expansion plans," Mr Boardley said.
ASA gives gentle reminder to govt Competitiveness in international shipping relies on the provision of fiscal measures by their governments according to the chairman of the Australian Shipowners Association, John Hurlstone. He said the international playing field in shipping was universally levelled by fiscal assistance from governments and so it would be in Australia if government adopted the core recommendations.
IMO adopts Indonesian sea lanes proposal The IMO's Maritime Safety Committee has adopted an Indonesian proposal to designate three north-south sea lanes through the Indonesian archipelago but only as a partial system government the commercial vessel access to essential trade routes. Designation of the three north-south sea lanes is scheduled to come into operation from 5 June 1999.
Developer jumps to defence of SCA Following criticism of Customs' Sea Cargo Automation system by one developer of systems designed to access SCA, another developer has defended the system unbidden. Richard White chief technical officer of Sydney-based Eagle Support said that perhaps the only valid criticism of the SCA system related to its minor message sequencing shortcomings.
Shippers given Friday deadline Columbus line has given Australian shippers until this Friday to state their intentions regarding cargo now on board the Columbus Canada. One of the shippers involved told DCN that the option of taking legal action against unions involved would depend on whether any actual contracts are lost.
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