Aker McNulty threatens closure A UK offshore yard hit by a series of wildcat strikes is threatening to close down with the loss of 4,500 jobs.
Australia and Hong Kong detain ships in ISM blitz ASIA-Pacific maritime authorities have taken a tough line on the International Safety Management (ISM) Code, with a handful of non-compliant ships detained in Australia and Hong Kong since the code's implementation on July 1.
Hansa Treuhand profits rise GERMAN shipping investment company Hansa Treuhand achieved high charter income results last year despite weak rates, board member Hermann Ebel has revealed.
Keppel Holdings and Kepphil restructure KEPPEL Philippines Holdings and Kepphil Shipyard have told the Philippines Stock Exchange they will implement a group-wide restructuring after shareholders in both companies approved the plan, writes Alec Almazan, Manila.
New US scrapping safety bid A US Congress drive for legislation that would heavily impact the global shipbreaking industry by forcing upgrades to environmental and worker health and safety standards has gained fresh momentum.
Montemar moves to Andrew Weir URUGUAYAN shipping line Montemar has appointed Andrew Weir Agencies as its UK representative to spearhead its plans to develop its business in the UK, writes Karen Thomas.
Richards Bay dry dock scheme seeks operator PROPOSALS to build a major new dry dock at South Africa's bulk port of Richards Bay on the north eastern seaboard will go ahead if a competent world class operator can be secured.
Malaysia Shipyard and Engineering contract Malaysia Shipyard and Engineering (MSE) is currently converting Mowinckle's 94,236 dwt conventional tanker Hitra to a floating production, storage and offloading (FPSO) unit for use off the Malaysian coast by Petronas. The contract was placed with MSE by a joint venture company involving Trenergy of Malaysia and Norway's Statoil. The 1984-built vessel arrived at the yard towards the end of last year, and the conversion is set for completion by September. The work is being carried out by a team of project managers from both the shiprepair and offshore divisions of MSE.
Chennai chief challenges congestion surcharge FEEDER operators have no legal basis to levy the congestion surcharge raised at Chennai, according to Chennai Port Trust chairman IV Manivannan.
Bugsier moves into Gdansk GERMAN tug operator Bugsier has opened a branch office in the Polish port of Gdansk.
PSA Corp and Shanghai sign port pact SINGAPORE'S PSA Corp today signed a memorandum of understanding with Shanghai Port Authority to promote further co-operation between the two ports.
Singapore reports 95 per cent ISM compliance SINGAPORE'S Maritime and Port Authority today issued a notice stating that 95 per cent of Singapore-registered ships have gained compliance under phase 1 of the ISM Code.
La Guaira gets $200m boost ENZO Chiarva, president of the Petroleos de Venezuela affiliate Depositos Industriales, has announced that his company has invested $200m in La Guaira port installations.
Brazilian coffee bonanza forecast ALL indications point to the biggest coffee harvest of the decade by Brazil, the world's top producer and exporter.
International Group to notify Brussels THE International Group club managers have agreed to formally notify the European Commission of the 1998 Pooling Agreement.
Grincor updates its fleet DURBAN-based Grincor is updating its fleet with two more acquisitions.
Osprey keep its finance options open OSPREY Maritime, the Singapore-based tanker owner, is still considering alternative means to raise up to $500m.
Bulgarian port to get Japanese funding BOURGAS, the Bulgarian port, is to receive $120m Japanese funding for the construction of new terminals.
Many Indian owners could fold, warns Mehta IF the current recession continues, many Indian shipping companies could fold, warned shipowners' association head BL Mehta.
Asia blamed for plunge in scrap exports SCHNITZER Steel, one of North America's largest scrap metal exporters, has blamed economic turmoil in Asia for a plunge in both the demand and the prices for scrap.
PSA Corp makes rent rebates SINGAPORE'S PSA Corp is to award S$21m ($13m) worth of rent rebates to tenants of PSA properties in a move to help port customers hit hard by the economic crisis.
87 per cent comply as ISM Code enters force CLOSE to 87 per cent of ships covered by the first round of ISM legislation have complied with it, said IMO secretary general Bill O'Neil yesterday as the code came into force.
Fears voiced over PMMA standards SHIPPING and manning industry executives have voiced fears that the Phillipine Merchant Marine Academy will fail to meet STCW education standards.
Ulstein wins $30m equipment order ULSTEIN Technology has won orders for equipment to be used in five offshore vessels with a combined value of Nkr223m ($30m).
Bulker owners dispute cause of collision OPERATORS of two bulk carriers that collided in the River Plate in May continue to dispute the cause, according to sources in Buenos Aires.
Merrill Lynch cuts ICTSI projections MERRILL Lynch has cut its 1998 net income projection for International Container Terminal Services Inc by almost 30 per cent because of anticipated forex losses.
Manning level dispute hits safety authority A DISPUTE between the Australian Maritime Safety Authority and the Australian Institute of Marine and Power Engineers over manning aboard one of the Authority's vessels has gone before the Australian Industrial Relations Commission. The parties are now involved in discussions following the Authority's move to reduce manning aboard its vessel, the Cape Grafton. It is understood the reduction in manning is part of off-sets required by the Authority as part of an enterprise based agreement.
Bulk rates on rapid decline THE current depression within the dry bulk shipping market has seen freight rates decline across the entire sector and the Baltic Freight Index slide to below 900, a level unseen for 11 years. The crisis in Asia has undoubtedly undermined confidence in the sector, but of far greater importance is the inherent over capacity in the market. With much of the current fleet consisting of relatively modern vessels, the prospect for large increases in the level of scrapping looks limited and consequently, it is expected that recovery in the market must be led by demand.
Melb "commended" for price reductions PORT pricing reductions announced by port authorities in Melbourne and Sydney this week have been warmly welcomed by shipping lines according to the chief executive officer of Liner Shipping Services Ltd, Llew Russell. "Admittedly, this process of pricing reform must be ongoing but these reductions have made a major contribution to that process," Mr Russell said. He added that the 14 per cent reduction in the base rate in Melbourne channel usage charges as well as the significant reduction in wharfage on empty containers, will be passed on to shippers via the port service charge mechanism.
Carriage of Goods "compromise package" CARRIER liability for loss, damage or delays to Australian international and interstate coastal cargoes has been extended in scope, enhancing the protection afforded to Australian shippers of sea cargoes. Commenting on the Carriage of Goods by Sea Regulations 1998 which came into force on Wednesday, the Minister for Workplace Relations, Peter Reith, said these will improve Australia's marine cargo liability regime to: * cover all relevant contracts of carriage (with certain exceptions for coastal cargoes), including electronic forms of contracts of carriage, rather than only bills of lading; * extend coverage to cargoes carried on deck (other than live animals), with certain limited exceptions able to be agreed between shipper and carrier; * extend the duration of carrier liability to a terminal to terminal basis (from a "hook to hook" basis); * provide some recompense for shippers' losses to inexcusable delays; and * in limited circumstances, provide coverage for Australian import cargo (ie., only where the contract of carriage is not subject to one of the international conventions on cargo liability or a local modification of one of these conventions).
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