Brussels fines ferry lines for price cartel FINES of Ecu9.12m ($10.98m) were yesterday imposed by the European Commission on seven ferry companies operating on routes between Greece and Italy for participating in price-fixing.
EC widens probe into French aid A PROBE into French state aid to Brittany Ferries is to be extended, while a new inquiry is to be opened into French aid to Corsica Marittima, the European Commission said yesterday, writes Nigel Tutt, Brussels.
Mean and moody view of shipping AN accelerating rate of debt default and another round of junk bond downgradings is the bleak picture painted for shipping by Moody's Investors Service in its latest research on the industry. Moody's says bond ratings currently stand at "appropriate levels", but adds that "a prolonged downcycle or further deterioration could prompt more rating actions in 1999". And the agency is pessimistic about prospects for the shipping industry.
Ockham agrees merger pact with New London Lloyd's insurance group Ockham Holdings is to merge with New London Capital in a '77m ($128m) deal.
P&O Ports poised for contracts P&O Ports' UK-based team hopes to round off a hectic year with a flourish.
IACS moves on transparency CLASSIFICATION standards will not be deflected from their high standards by special pleading and the poor freight market, the International Association of Classification Societies has asserted.
Six new container berths for Le Havre THE French government has given its approval to a FFr3.1bn ($547m) extension involving the construction of six new containership berths at the port of Le Havre, France's leading container port.
Canada blocks shipyard aid Canadian industry minister John Manley has ruled out any hopes for new federal government subsidies for the shipbuilding industry, despite an onslaught by industry interests and opposition parties in parliament.
L'introduction en Belgique de la nouvelle Eurovignette risque d'être chaotique Aucune instance belge n'est en mesure de donner la composition du parc de poids lourds en fonction des normes Euro. Aucune rubrique n'a été créée dans la banque de données des immatriculations. C'est ce qu'a constaté la Febetra, qui en a averti le ministre des Transports. Les normes Euro deviennent en effet des facteurs de plus en plus importants dans les dossiers "Transport", et l'absence de rubrique risque de compliquer très fortement le traitement de ceux-ci. C'est particulièrement le cas pour l'introduction de l'Eurovignette "variabilisée" le 1er janvier 2000.
Kühne & Nagel et DHL créent KN Elan Ce que nous annoncions il y a quelques mois vient d'être officiellement signé: la division allemande du groupe logistique suisse Kühne & Nagel a créé une joint-venture avec la division allemande de l'intégrateur DHL (siège principal: Bruxelles). Les deux groupes intégreront leurs transports terrestres nationaux et internationaux sous le dénominateur KN Elan. La nouvelle entreprise débutera ses activités le premier janvier prochain.
Avant-port de Bruxelles: accord sur le terminal à containers Le projet portant sur l'implantation d'un terminal à containers dans l'avant-port de Bruxelles vient de franchir le dernier obstacle qui le séparait d'une réalisation concrète. Un accord sur ce dossier a été finalisé la semaine dernière entre les différentes parties concernées, nous a dit le secrétaire d'Etat bruxellois aux Travaux publics, Eric André. Cet accord prévoit que l'aménagement du terminal sera assuré par une société d'investissement appelée Bruport Invest, dans laquelle le Port de Bruxelles (majoritaire à 51%) aura pour partenaires Inter Ferry Boats (IFB) et le holding français Egis Projects. L'exploitation de l'installation sera confiée à une entité privée, dont les actionnaires seront IFB, la société bruxelloise Smet et une filiale du groupe Egis Projects (en collaboration avec le Port de Paris). L'investissement, qui bénéficie d'un soutien européen dans le cadre du programme PACT, est évalué à quelque 400 millions de BEF. Les travaux devraient démarrer au début de l'année prochaine.
La SNCB bientôt majoritaire dans TRW? Le 23 décembre prochain se tiendra une assemblée générale des actionnaires de la société belge de transport combiné TRW , au cours de laquelle devrait être avalisée une augmentation de capital de 150 mio. de BEF. On sait qu'une recapitalisation de l'entreprise est urgente, car elle doit, d'une part contribuer à réduire le ratio d'endettement à long terme et d'autre part, donner une assise financière plus importante par rapport à son volume d'affaires. Le capital serait porté aux environs de 250 mio. de BEF.
Sydney and Brisbane reject MUA national line Members of the Maritime Union of Australia in two capital ports have voted against the resolutions from this year's national council meeting of their union. Sydney and Brisbane are the two dissenting ports, although once the figures are in from regional ports, it is expected that the motions will be carried. According to DCN sources, the vote against the motions flowing from the national council was substantial in Sydney. In Brisbane, only a handful of votes were said to have led to the rejection of the federal positions.
'Newcastle on edge of new era' The port of Newcastle is about to enter a new era of international trade that will change forever the economic and industrial structure of the Hunter, chief executive officer of the Newcastle Port Corporation Dr Glen Oakley believes. Speaking at an industry briefing in Newcastle this week, Dr Oakley said the promising outlook came as the corporation released its 1997-98 annual report that outlined another record year for Newcastle, positioning the port as the country's largest commercial facility of its kind.
MUA conspiracy case deferred The Maritime Union of Australia's conspiracy case against the Geraldton Port Authority, former WA Transport Minister Eric Charlton and present Transport Minister Murray Criddle has been deferred until 8 February. The trial was scheduled to be held in the Federal Court this week however legal counsel for Mr Charlton and Mr Criddle applied for a deferral to allow more time to prepare their defence.
Westrail confusion should be over The Western Australian government is planning to introduce legislation in state parliament next year, subject to final cabinet approval, to facilitate the sale of Westrail's freight business. The announcement, by Transport Minister Murray Criddle, should help clear up some of the confusion that has surrounded the proposed sale since statements were made in parliament earlier this year suggesting that some members of the government would oppose a sale.
Industrial strife for Ansett, Qantas Australia's two main carriers, Ansett and Qantas, were yesterday embroiled in fresh disputes with unions and are both facing possible industrial action over the next few days if matters are not resolved. Ansett was taking steps late yesterday to prevent possible industrial action by unions seeking a six per cent pay rise for more than 6000 workers. The airline lodged an application to terminate the current bargaining period, a legal move which would make industrial action by the 12 unions illegal. Under the federal government's new industrial relations law, strikes can only take place during notified bargaining periods. The unions wanted a six per cent pay rise over two years, the Australian Services Union said.
Oil Prices Drop Again Despite the best efforts of the Gulf Arab states, the price of a barrel of oil dipped to near historic lows, with the international benchmark Brent crude ending the day at $10.01. The slump in oil values both sides of the Atlantic came after remarks by Venezuelan President-elect Hugo Chavez that he did not foresee new oil production cuts.
Disgusting Conditions Reported On Bulk Carrier A 19,000-gt Maltese flagged bulk carrier has reportedly been detained in Belfast due to numerous safety and hygiene deficiencies. The infractions aboard Olympus reportedly include: an inoperative lifeboat engine; an inoperative emergency generator; a faulty systems for processing oil contaminated water before discharge into the sea and cockroaches and weevils in the galley.
EC To Investigate Ferry Merger The European Commission is opening formal investigations into French aid to two state-owned ferry companies, Brittany Ferries and Corsica Marittima. The Commission's investigation is reportedly concerned with losses totalling 40 million francs incurred by Corsica Marittima, which is active on routes between France and Italy, since its creation in 1990 and the "very favorable" conditions under which ships were leased to it by SNCM.
Icebreaker, Tanker Break Free A nuclear icebreaker accompanying a Finnish tanker that carried vital supplies to the isolated Chukotka peninsula near Alaska broke reportedly through ice reported to be 50 to 65 ft. after getting stuck for two days. Though the icebreaker had requested help from a helicopter, it apparently was able to free itself using ship-to-shore satellite communications.
Moody's Bearish On Shipping's Near Term Prospects Moody's said that the ocean-going cargo shipping industry is heading for a severe and possibly prolonged downturn after an already depressed 1998, citing low freight rates and a major imbalances in global trade flows.
Argonaut Takes Tanker For $20M Swedish tanker company N&T Argonaut was reported to have purchased the 1986-built Aframax tanker North Pacific for about $20 million.
U.S., Brazil Spat Heats Up A maritime spat between the U.S. and Brazil over alleged discriminatory shipping practices threatens to spill over into millions of dollars in sanctions if diplomats fail to act quickly, shipping sources said on Tuesday.
Aker Considers Merger Of Its Five Companies Norwegian offshore supply and services firm Aker Maritime said it was considering merging five of its companies in Norway into one to raise their competitiveness. Aker Maritime said that the five companies were Maritime Tentech of Kristiansand, Aker Engineering of Oslo, Aker Stord and Aker Verdal fabrication yards and the marine operations company Aker Maritime Contractors of Oslo.
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