Australia gets A$10m back in ANL deal THE Australian government has recouped A$10m (US$6.4m) from the sale of ANL's liner shipping business to France's CGM Group, although the French company has also taken on liabilities of five times that figure.
Fund manager George Soros Fund manager George Soros said yesterday he believed world financial markets were still in a downtrend despite a strong recovery. Speaking at the London School of Economics, he called for regulation of hedge funds and predicted problems for the UK if its currency joined the Euro, saying that historically it was closer to the dollar. However, he said he could be wrong.
Greek ferry venture seeks listing MINOAN Flying Dolphins, the trade name for a new venture which will merge the high-speed ferry interests of the Ceres group and Minoan Lines on Greece's short haul passenger routes, is to seek a listing on the Athens Stock Exchange in the course of next year.
Seven lines facing Brussels fines for Adriatic price-fixing THE European Commission plans to decide on Wednesday the level of anti-trust fines on seven ferry lines serving routes between Italy and Greece, a commission source said yesterday, writes Nigel Tutt, Brussels. The fines will follow a commission investigation which found that the lines were price-fixing passenger, car and lorry fares between Ancona, Bari and Brindisi in Italy to Patras in Greece, they said. "A price-fixing cartel is 'a very serious' offence. But this case was only 'serious' because of the gravity of the offence. Fines for serious cases can vary between Ecu1m-Ecu20m per company," a source said.
EU takes a tougher line on state aids for shipbuilders A NEW regulation covering state aids to shipbuilding and other industries has been adopted by the Council of Ministers of the European Union and will take effect shortly.
Turkey cancels straits VTS system tenders Insufficient interest from contractors has caused the Turkish government to cancel tenders for a Vessel Traffic Information System due to be installed to provide radar and communications coverage over the Turkish straits.
Eurotunnel expands freight fleet Eurotunnel Freight has invested in two complete freight shuttles worth a total of '40m ($67.2m), the Anglo-French Channel Tunnel operator has announced.
Petroleum imports set to grow in key regions Clare Longley and Alison Smith report from the fourth Lloyd's Shipping Economist Products Tanker conference in London. LATIN America and the Mediterranean can expect to see further growth potential in terms of petroleum product imports towards 2000, according to shipbroker Simpson Spence & Young.
Heavy snowfall paralyses Swedish port A HEAVY snowstorm has brought the Port of G'vle on the east coast of Sweden to a standstill.
Lorient-Casablanca route to be revived FRENCH liner operator Gulf Stream is hoping to restart a roro service between Lorient in north-west France and Casablanca in Morocco.
Minister boosts Colombo port promotion SRI Lanka's port development minister MHM Ashraff has set up a Port Promotion Council to recommend measures to improve efficiency at Colombo Port.
Renaissance delivery prompts order talks CHANTIERS DE L'ATLANTIQUE has delivered the second of six cruiseships to US-based cruise line Renaissance Cruises.
Adelaide hits major throughput mark SEA-LAND (Australia)-operated Port Adelaide has exceeded 100,000 teu in a single year for the first time in the port's history.
MC Shipping continues rejuvenation policy MC SHIPPING has sold a multipurpose/container feedership and reached agreement with insurance underwriters for damages on another vessel.
Zim partnership brings South Korean advantages ZIM has entered into a partnership with Dong-A subsidiary Korean Express Co regarding operation from two new container terminals in South Korea.
Four lines form South American co-operation TWO Brazilian and two European lines have confirmed they are to co-operate on the north Europe-east coast South America route.
Engineers assess damage to Antarctic vessel ENGINEERS are currently assessing the damage to the Antarctic research and supply ship Aurora Australis.
Adsteam buys Australian rival EXPANDING Australian towage operator Adsteam Marine has strengthened its presence in the domestic tug sector with a buyout of a rival business.
Strongest tanker escort tug launched DAKOTA Creek Industries of Anacortes in Washington state has launched the world's highest horsepower Voith Schneider tractor propulsion tug.
Former transport minister in kickback allegations URUGUAY'S former transport minister is alleged to have suggested that a $2m incentive had to be paid in order to win the tender for Montevideo's container terminal.
Philippines calls for mortgage law changes PHILIPPINES' officials have called for changes to the mortgage law as part of its bid to align its ship financing system with international requirements.
Canada to cut and freeze ice breaking fees CANADA has accepted a proposal from shippers and shipowners to cut its proposed Coast Guard icebreaking fees in half and keep them at that level for three years.
Research vessel picks up 52 refugees UKRAINIAN research vessel Akademik N Strakhov arrived in Valletta Grand Harbour yesterday morning with 52 would-be illegal immigrants on board.
Wallenius envisagerait de transférer ses activités atlantiques d'Anvers à Zeebrugge Il en est question depuis quelques mois et les rumeurs deviennent de plus en plus persistantes: l'armement Wallenius, le grand spécialiste européen du transport océanique de voitures neuves aurait l'intention de transférer ses activités atlantiques d'Anvers où ses navires sont traités au terminal pour voitures de la Hessenatie à la darse de Vrasene dans la zone portuaire de la rive gauche à Zeebrugge où un terminal dédié serait aménagé dans l'arrière-port.
Mærsk étudie l'implantation d'un hub dans le Sud de l'Inde Le groupe maritime danois Mærsk étudierait la possibilité d'implanter un nouveau port à containers dans le Tamil Nadu, l'Etat qui forme la pointe sud de l'Inde. Ce nouveau "hub" serait aménagé à proximité de la ville de Kolachel et pourrait vraisemblablement constituer une maillon de plus dans la chaîne de grands terminaux situés sur l'axe de navigation est-ouest et desservant des zones géographiques distinctes. On ignore si l'armement américain Sea-Land, partenaire habituel de Mærsk dans ce genre de projets, participerait à l'entreprise.
Les opérateurs citerniers belges menacent d'agir Les opérateurs citerniers intérieurs actifs sur le marché belge, menacent d'agir. "Si lundi aucun accord n'a été atteint avec les sociétés pétrolières, mardi, nous formerons des barrages sur le canal Albert, dans la région liégoise", c'est ce qui nous a été communiqué par téléphone le weekend dernier. Les opérateurs citerniers menacent d'entreprendre des actions pareilles sur le canal maritime Bruxelles-Escaut.
SA gets head start on new regs South Australian truck operators will be the first to benefit from long-awaited proposals to increase truck mass limits, following the SA government's commitment to implement the proposed reforms by 1 January. However, truck operators in other states -- particularly in NSW, the ACT, Queensland and Tasmania -- could have to wait much longer before being able to take advantage of the reform.
Ports at standstill for meetings Cargo handling and shipping movements in most major Australian ports will come to a standstill today when members of the Maritime Union of Australia attend the union's annual general meeting. Work in a number of smaller ports will also be affected by similar meetings tomorrow. Normal cargo handling and shipping movements are expected to resume on the afternoon shift. Issues from the recent MUA national council meeting will be discussed at the meetings, with P&O Ports' plans for waterfront reform likely to receive particular attention.
CGM gets ANL for $10m plus ANL and the Commonwealth completed the sale of ANL's Liner Shipping division to France-based international shipping company, CGM, at the weekend, for $10 million. The Ministers for Finance and Transport, John Fahey and John Anderson, said ANL's container shipping business would operate under the commercial title, ANL Container Lines Pty Ltd.
Anderson explains national delay Federal Transport Minister John Anderson has decided to scrap the government's previously announced plan to introduce a modified mass limits regime for federally registered heavy vehicles from 1 January, following continued opposition to the proposal mainly from NSW and the ACT. At the conclusion of the Australian Transport Council meeting in Melbourne on Friday, Mr Anderson said his decision followed significant progress being made "towards a national approach" to the proposed increase in mass limits for vehicles utilising road friendly suspension systems.
ASR upbeat despite coal loss Australia Southern Railroad chief executive Chuck Chabot remains upbeat about the prospects of the South Australian rail freight business, despite the loss of one of its largest customers last week and questions being raised about the viability of the intra-state network. The Australian Democrats last week warned that the future of South Australia's intra-state freight rail network was under a cloud as a result of the Leigh Creek coal haulage contract going to the NSW-based FreightCorp rather than the Adelaide-based ASR.
Babcock Wins Contract To Refit Naval Ship British engineering firm Babcock International Group won a contract from the UK Ministry of Defense to refit the 31,565 tons naval support vessel RFA Fort Victoria. Babcock said it secured the "multi-million pound" order against strong competition from commercial refit yards and other dockyards. The company did not disclose the contract value. The refit at Babcock Rosyth in Scotland will start on February 1, 1999 and the work will last for 17 weeks employing about 250 at its peak. The contract includes the maintenance, survey and overhaul of all major ship's systems and equipment, said the company.
Singapore Liberalizes Tug Services In March The Maritime and Port Authority of Singapore (MPA) will reportedly bring the third phase of its towage liberalization program forward to March 1, 1999 from July 1. Under the third and final phase, tug operators with public licenses would be allowed to provide towage services to all sectors within port waters.
TACA Shipping Lines To Appeal Fines Container shipping lines in the Trans-Atlantic Conference Agreement (TACA) have reportedly lodged an appeal against record fines imposed on them by the European Commission for breaking competition rules. The 15 TACA lines lodged an appeal with the European Court of First Instance on the grounds that they had not held a dominant market position. In September the Commission fined the shipping lines a record aggregate 273 million ecu for breaching competition rules by operating a price fixing cartel on the Atlantic trade.
EU To Fine Greek Ferries The European Commission will reportedly fine one Italian and six Greek ferry firms up to $23.41 million each for allegedly fixing prices on Adriatic Sea routes.
MC Shipping Sells Ship To Korean Interests MC Shipping Inc. is said to have sold a multipurpose/container feeder ship, the MC Emerald, to Korean interests for over $1 million.
Kvaerner, HDW Kiel Win Attica Deal Kvaerner ASA said that it and German shipyard HDW Kiel had reached a deal to supply 1,000 prefabricated modular cabins for four ferries ordered by Greece's Attica Enterprises. Kvaerner said the deal was won by its Finnish subsidiary Kvaerner Masa-Yards Piikkio Works.
Bimco, U.S. Work On Sea Safety Reporting System International shipowners organization Bimco said it has entered discussions with the U.S. Coast Guard and Maritime Administration (Marad) to set up a system that would receive, analyze and disseminate information about unsafe occurrences at sea.
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