Frontline orders boost Hyundai JOHN Fredriksen's Frontline has signalled a vote of confidence in South Korean shipbuilding by ordering two suezmax tankers worth more than $100m from Hyundai Heavy Industries.
Bunker prices hit four-year low in Singapore SINGAPORE's bunker fuel oil market has fallen to a four-year low due to a global surplus and reduced demand for commercial oil as a result of mild weather.
Low rates hit reefer owners First fixtures of 1998 have been disappointing for reefership owners, though January is always a problematic month. On top of that, turbulent weather blamed on the El Nino phenomenon could reduce cargo availability just as the shipping season approaches its expected height. JAMES BREWER reports
Viking sees traffic rise VIKING Line saw a substantial year-on-year rise in traffic over the Christmas period, with a 33% increase in passengers in December compared with the same month in 1996, writes David Osler.
Bullish Hvide banking on success Hvide Marine this week engineered its second major deal in the harbour towing business in recent months. Washington Correspondent JOEL GLASS looks at the rapidly expanding Florida company.
Hong Kong talks focus on Pacific rate levels MEMBERS of the the Trans-Pacific Stabilisation Agreement will meet in Hong Kong next week in an effort to promote an increase in eastbound trade rates and prevent declines on the westbound legs.
PSA throughput shows 9.1% rise SINGAPORE container terminal operator PSA Corp achieved throughput of 14.12m teu in 1997 despite the economic crisis in the region in the second part of the year.
Pakhoed's purchase of Transrol opens up German market DUTCH tank-storage and shipping group Pakhoed looks set to break into the German chemical distribution market and to significantly reinforce its ambitions to become a pan-European chemicals distributor with the purchase of Dutch group Transol for an undisclosed sum.
Frontline throws in the towel on ICB FRONTLINE Ltd has pulled out of its hostile takeover bid for ICB Shipping, the Stockholm-based tanker group.
Salvtug to launch container shuttle service MALAYAN Towage and Salvage Corp, the Philippines salvor and tug operator, is embarking on a container-shuttle service between the ports of Mariveles and Manila.
Airtours 'planning 55,000 gt cruiseship' AIRTOURS, the UK-based package holiday group, is rumoured to be planning to order a 55,000 gt cruiseship.
HK officials to inspect cargo from sunken barge ENVIRONMENT officials are to inspect potentially hazardous cargo from a barge that sank in Hong Kong waters to determine whether to prosecute the shipper and the vessel owner.
Taiwan links boost Xiamen's throughput XIAMEN port in China handled nearly 18m tonnes of cargo last year, a rise of 13 per cent on 1996, following the start of links with Taiwan.
Novorossiysk trade hit by frozen sea A FROZEN sea has been hindering movement of cargo in and out of the Russian port of Novorossiysk for the past three weeks.
Gotlandslinjen broke record in final year GOTLANDSLINJEN, the Baltic ferry company, carried a record number of passengers in its final year.
Philippines to auction second US base THE Philippines government is planning to construct a new port and ship repair facility at a former US military installation.
Japanese 'hopeful' of agreement with FMC JAPANESE shipowners are "hopeful but not optimistic" that a mutual agreement will be reached over US FMC sanctions during discussions scheduled to take place this month.
Maltese builder in foreign labour furore A MEETING to discuss the hiring of foreign labour at Malta Shipbuilding broke up this morning with no decision revealed.
Deal brokered on Canadian coastguard battle LOUIS-Marie Beaulieu, chairman of Groupe Desgagnes, has brokered a coalition between shipowners and shippers on paying for the Canadian Coast Guard.
Paris to complete shipyard subsidy payments THE French government has finally decided to complete the payment of outstanding subsidies of Ffr1.8bn ($300m) to Chantiers de l'Atlantique.
Indonesia bans palm oil exports in first quarter INDONESIA'S customs office is planning to tighten supervision of vessels transporting crude palm oil following the government's ban on exports.
Tankers bring ballast bugs to Prince William Sound A STUDY has found that tankers moving into Alaska's Prince William Sound to load oil have introduced alien forms of plankton to the area.
MUA wins unexpected ruling on waterfront refom AUSTRALIA'S efforts at improving waterfront productivity have taken another twist with an unexpected court ruling in favour of the Maritime Union of Australia.
Colombo is fastest growing hub port COLOMBO, Sri Lanka's main port, handled a record 1.68m teu last year, up from 1.35m teu in 1996, making it the fastest-growing hub port in the world.
Linfox set to fly solo with Avalon Trucking group Linfox Transport revealed yesterday it had assumed 100 pt control of Avalon Airport near Geelong, following a buy-out of the British-based Serco group’s 50 per cent share in the airfield.
Esperance’s giant logistics challenge The south west port of Esperance is making strides in a quest to attract a greater share of resource cargo for the State’s gold and nickel mining industries.
WRA order lifted but Patrick seeks further change The Maritime Union of Australia has been successful in its bid to set aside orders obtained by Patrick under section 127 of the Workplace Relations Act and applying to the company’s Melbourne facilities.
Employers spell out award changes The grounds for the application to vary the Stevedoring industry Award of 1991 have been spelt out by employers in their submission to the Australian Industrial Relations Commission.
WS readies Dampier takeover Western Stevedores expects to take over management of Dampier’s public wharf in February after months of haggling with the Dampier Port Authority over lease arrangements.
VLCC owners fear Korean cutbacks The large tanker market made a nervous start to the new year, with fears over cuts in oil imports from Korea a hot topic of conversation.
Chandris teams up with Frapaco Greek shipowner Chandris is in the process of acquiring a 50 per cent stake in Oslo-based Panamax bulk operator Frapaco.
India struggles to keep its grip on SCI Shipping Corp of India is a profit-making cash cow that the Indian government likes to keep under tight reins. However, with multinational joint ventures the order of the day, and the shipping business constantly getting more complex, the government may soon find that SCI is too complicated an animal to hold by the horns.
Low-profile Lemos' legacy lives on Costas Lemos built up a fortune reputedly worth USD 3bn, yet was such a private person that he was able to walk down a street without being recognized. His son Michael, 43, seems to be equally at home with the same approach.
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