Fearnleys Futures in fraud losses NORWEGIAN broker Fearnleys has compensated trading partners after allegations that a broker working for its subsidiary, Fearnleys Futures, fraud-ulently arranged forward freight agreement con-tracts.
'Rotterdam' in UK debut One of the largest containerships afloat, the 6,674 teu P&O Nedlloyd Rotterdam made her European debut over the weekend, calling at the UK port of Southampton.
Record coal activity at Newcastle COAL exports from the Australian port of Newcastle have continued to run at a high level despite the problems expected with Asian demand this year, says the chairman of Port Waratah Coal Services, John Risby.
Going with the flow: Going with the flow: A man uses a cart to transport a boat along a flooded street in the Bangladesh capital of
Sopanata sells Elcano stake to partners MADRID'S dream of converting former state-owned Elcano into a global shipping company with Spanish and Portuguese partners has come to an end just 12 months after it was sold for $39m.
'P&O Nedlloyd Rotterdam' debut ON her first revenue earning trip since delivery, the P&O Nedlloyd Rotterdam made her European debut over the weekend, calling at the UK port of Southampton.
HSBC Holdings profits suffer in Asian crisis HSBC HOLDINGS, one of Europe's largest banks, felt the full force of Asia's economic crisis in the first-half of this year with higher-than-expected bad debt provisions pushing the group's profit below market expectations.
Maersk in South Africa action pledge DANISH shipping line, Maersk, launched its solo South Africa/Far East service with the promise of more developments in the future, writes Nicci Botha, Johannesburg.
Conflict grows over contaminated mud CONTAMINATED mud in the port of Bremerhaven is causing growing conflict between the states of Bremen, Lower Saxony and the German government.
Higher loss of life clouds casualty improvement GREATER loss of life from ship casualties in the first half of the year clouded an improvement in the number of total ship losses according to statistics released by the ILU.
Bid to resolve ICB Shipping ownership THE chairmen of Frontline and ICB Shipping are holding informal talks over a solution to the ownership situation of ICB.
PSA Corp takes stake in Pipavav SINGAPORE'S PSA Corporation has acquired a significant stake in Pipavav Port in the Indian state of Gujarat.
WABO to change crews and manager THE Norwegian obo carrier company WABO expects to save up to $2.5m per year through re-crewing its ships and changing its shipmanagement.
Korean coal outlook 'still bullish' KOREAN demand for coal will remain strong, according to an official with South Korea's major coal buyer Korea Electric Power Corp.
Songkhla blockade over A BLOCKADE of the Thai port of Songkhla by about 400 fishing vessels ended at the weekend following an agreement by the government to postpone a fishing ban.
Moore Stephens warns on club ratings UK-BASED shipping and insurance accountant Moore Stephens has warned shipowners that they should treat Standard & Poors' 1998 ratings of P&I clubs with care.
Port operators focus on Chennai PSA Corporation, P&O Ports and Hutchison International have made presentations to India's Ministry of Surface Transport to upgrade and operate the Chennai port container terminal.
Grupo Libra adds third ship GRUPO Libra has added a third container vessel to its service between the east and west coasts of South America.
Federal oversight ends for US railroad REJECTING the pleas of major US shippers, the US Surface Transportation Board has released Union Pacific Corp from federal oversight imposed last October.
Subic Bay hearing opens THE Philippine Court of Appeals today hears a writ of preliminary injunction filed by Richard Gordon, ousted chairman of Subic Bay Metropolitan Authority, against president Estrada.
New berth for Eurokai CONSTRUCTION has started on another container berth at Hamburg's Eurokai container terminal.
Government snubs PMMA plea GOVERNMENT has refused the Philippine Merchant Marine Academy's (PMMA) request to source essential funds from foreign lending institutions.
Australian stevedores under scrutiny AUSTRALIA'S two major stevedores have been warned they will be subjected to official pricing scrutiny unless they pass on labour cost savings to shippers.
Florida-Puerto Rica MOU signed MIAMI company Sea-Barge has reached agreement with Totem Resources and Matson Navigation to deploy Matson vessels on a Florida-Puerto Rico service
Commission approves Group limit THE International Group of P&I Clubs has been informed by the EC Competition Directorate that it will approve the terms of the 1998 Pooling Agreement on limitation of cover.
Second drug haul on German ship HALF a ton of cocaine has been seized by customs authorities at Port Everglades from a German ship on which drugs were also discovered in May.
Norasia et CMA s'allient sur la route entre l'Europe et le Moyen/Extrême-Orient Le mariage n'aura duré que deux ans. Norasia et MSC (Mediterranean Shipping CY) se séparent. Le premier s'engagera dès le 8 octobre prochain dans un accord de type VSA avec l'armement français CMA, le second deviendra donc la seule compagnie maritime à opérer en tant que solitaire sur cette route tout en maintenant une flotte de 10 PC de 3.500 à 4.000 TEU dans un service assuré à une fréquence hebdomadaire.
L'allongement de la piste d'Antwerp Airport est parfaitement justifié A la veille des vacances, le gouvernement flamand a quasiment pris une position de principe en faveur de l'allongement de la piste de l'aéroport d'Anvers. Il avait promis une décision ferme: elle est reportée à octobre/novembre, lorsque seront connus les résultats de quelques études complémentaires. L'occasion est donc bonne de reprendre le dossier à tête reposée, avec des arguments techniques et sans polémiques stériles, et de couper les ailes de certains canards.
Logistique globale: MSAS et Caliber s'allient Le groupe britannique Ocean a annoncé qu'il a conclu une alliance stratégique entre sa division logistique MSAS Logistics et l'entreprise américaine Caliber Logistics, basée dans l'Ohio. MSAS représentera Caliber en Europe et en Asie, tandis que Caliber représentera le groupe européen en Amérique du Nord.
Le gouvernement flamand approuve le projet de licence d'agent maritime Lors de son dernier conseil avant les vacances d'été, le gouvernement flamand a approuvé l'avant-projet d'arrêté royal concernant la création d'une licence d'agent maritime. Le premier obstacle vers la protection de la profession est ainsi franchi. Il y en a encore cinq autres: le gouvernement bruxellois, le gouvernement wallon, le gouvernement fédéral, le Conseil d'Etat et enfin la Commission européenne.
Contingency planning underway as time runs out With time running out for the settlement of the dispute between Patrick and the Maritime Union of Australia, an increasing number of shipping lines and shippers have been looking at contingency measures. It now appears that the only way in which the matter can be resolved is if the MUA agrees to set aside several million dollars to satisfy possible compensation claims from shippers who have been injured by the union's dispute. The end of efforts to resolve the crisis could take place as soon as today, the deadline set by the banks which are seen as being central to the future of Patrick's four labor hire companies.
Waterfront workforce 'halved by Xmas' Manning levels on the Australian waterfront will be cut by half by Christmas, according to the Minister for Workplace Relations, Peter Reith. Speaking at an HR Nicholls Society function late last week, Mr Reith said that after the Patrick issues had been settled, he expected P&O Ports would move to close the "inefficiency gap they will then have with Patricks". "Manning levels in the industry will be reduced by just under half," he claimed. Mr Reith said he was delighted to tell his audience that the days of "the crane driver on 14 hours a week earning $90,000 a year" are over.
Lloyd Triestino sale sealed A formal agreement between Evergreen and Finmare for the purchase of Lloyd Triestino was signed last Friday at the headquarters of the Italian shipping group in Rome. It was signed by executive vice-president and assistant to the chairman of the Evergreen group, R. G. Shyu and the managing director of Finmare, Antonio Zappi. Evergreen's acquisition of Lloyd Triestino has been approved by the Italian government and the sale is expected to be finalised in September at which time Evergreen will take full control of the company.
Chullora works set to begin Works on National Rail's proposed $40 million upgrade of its intermodal terminal in Sydney could begin as early as this month after the development plans were given the green light by the relevant authorities and the NSW government. The application for the proposed redevelopment of NR's capacity-strained Sydney Freight Terminal at Chullora, which was submitted to local councils in August last year, was last week given formal approval by the NSW Minister for Urban Affairs and Planning Craig Knowles.
Burnie loader repaired The port of Burnie concentrate loader, which was damaged by a bulk carrier making an emergency departure from the port during an "extreme weather event" last Tuesday, became operational again yesterday. Harbour master Captain Mike Boss-Walker said the loader was damaged when 65 knot winds hit the port on Tuesday night. He said the gale caused the Cyprus-flagged, Greek-owned, 52,000 dwt carrier, Captain George II, to break eight of her 24 lines simultaneously.
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