Navy awards Ingalls $620 million destroyer contract Ingalls Shipbuilding, a subsidiary of Litton Industries , has been awarded a $620 million contract to build two additional DDG 51 Class Aegis guided missile destroyers
Oslo market shipping and offshore shares follow oil price down After experiencing one of the best months ever in October, maritime shares on the Norwegian share market saw fortunes reversed in November, losing almost half the gains from the previous month
Oslo exchange investigates Ulstein dealings for possible insider trading The Oslo Stock Exchange is reportedly investigating Ulstein share transactions prior to the share being suspended and the takover by Vickers
Shell wields axe to save $2.5bn a year Shell is to sell off part of its business and cut more jobs in an attempt to realise billion dollar cost-savings over the next two years, chairman Mark Moody-Stuart said yesterday.
Ocean Marine to be absorbed Owners covered for third party liability insurance through Ocean Marine Mutual are to be offered renewal terms by the Liverpool & London club when Ocean Marine ceases underwriting in February.
Tough times in junk bond market In a more gentlemanly age, the American sports writer Grantland Rice wrote that it was not whether you won or lost but how you played the game that mattered. It is doubtful whether this sentiment is shared by investors in the US junk bond market.
Asgard A departure is delayed Thruster complications which were uncovered during quayside testing have pushed back the departure of Statoil's Asgard A production vessel from Aker Stord by a further week.
Subic Bay plans $6.4m upgrade IMPROVING Subic Bay Free-port's port facilities will be a major priority of the Subic Bay Metropolitan Authority under its new chairman, Felicito Payumo.
Panama staff face early retirement MORE than 10% of the Panama Canal's 7,900 workers will retire by the end of December as part of a plan to make the waterway more efficient before the US hands it over to Panama, Reuters reports.
Carriers in London talks on Taca role A TOP-LEVEL meeting to discuss the future of the transatlantic container trades will convene today in London amid mixed views about the prospects for success.
SCI close to Japanese LNG deal SHIPPING Corporation of India is close to signing a joint venture with a top Japanese Liquefied natural gas (LNG) vessel operator.
IMO agrees cruise ship helipad exemption FORMAL Safety Assessment arguments have led the IMO to exempt passenger ships from the 1999 SOLAS requirement for helicopter landing areas.
Colombo assesses its competitive position COLOMBO Port is taking a hard look at its operations and tariffs in an effort to improve productivity, efficiency and competitiveness.
CP completes ANZDL purchase CANADIAN Pacific has completed the acquisition of Australia - New Zealand Direct Line from its two owners.
New Korean box port makes strong start KWANGYANG, South Korea's newest container port, has built up business quickly and now handles 18 containerships a week, mostly on routes to China and south-east Asia.
ICF to restructure THE board of Intercargo-Interfrigo, the Switzerland-based combined transport operator, has agreed to restructure the company.
IACS to maintain firm line CLASSIFICATION society managers will instruct their surveyors not to relax standards or acquiese to special pleading, the IACS council announced.
ECSA appoints new board THE European Community Shipowners' Association has appointed Denmark's Knud Pontopiddan president of its management board for 1999-2000.
Owens expands in Australia MAJOR NZ transport company Owens Group has expanded its Australian operations with the acquisition of Quality Container Management.
Philippines plan to promote domestic safety THE Philippine Maritime Industry Authority (Marina) and Aboitiz Jebsen Bulk Transport (Abojeb) have agreed to promote higher domestic safety and management standards.
Docenave fined for flagging back to Brazil DOCENAVE, the Brazilian operator, has been fined $8m because it flagged two panamax bulkers, Docebeta and Docelotus, back to the Brazilian flag.
Indonesian instability 'a risk to shipping' SINGAPORE'S deputy prime minister has warned that further instability in Indonesia could affect the safety of vital sea lanes.
MarAd grants newbuilding loan to Brazilians ASTROMARITIMA, the Rio de Janeiro-based offshore supply vessel operator, is to become the first Brazilian shipping company to receive a loan from MarAd for a newbuilding.
P&O Nedlloyd returns to New Plymouth P&O Nedlloyd's New Zealand/Singapore shuttle will return to New Plymouth in January following the opening of a new container terminal.
Berlian Laju take-over 'not until next year' BERLIAN Laju Tanker's take-over of a 60 per cent stake in Indonesian state-run PNOC Shipping and Transport is unlikely to be completed before the end of this year.
Easing of cabotage rules worries Malaysian owners MALAYSIAN owners claim that the decision to allow foreign vessels to trade between local ports will hinder the development of a viable national merchant marine.
MOL raises Hong Kong presence JAPAN'S Mitsui OSK Lines will establish a Hong Kong company from April 1, 1999 to operate its unprofitable container unit.
Australian miners on strike AUSTRALIA'S coal industry has been disrupted by a nationwide 48-hour miners' strike over falling export prices.
CCS lance un nouveau service rhénan depuis Zeebrugge Combined Container Service lancera le 4 janvier prochain un service fluvial régulier entre Zeebrugge et Emmerich, où les containers transportés seront transbordés sur d'autres services rhénans de CCS. Dans une première phase, trois départs seront assurés tous les quinze jours au départ de Zeebrugge (via Bruges, Gand et Terneuzen). Le nouveau service de CCS sera le cinquième assuré depuis Zeebrugge vers le Rhin. Est-ce nécessaire ou de trop?
Intercontainer va créer de nouvelles sociétés d'exploitation L'opérateur ferroviaire pan-européen Intercontainer-Interfrigo (ICF) a décidé de restructurer ses activités à partir de l'année prochaine et d'adopter la structure d'un holding. Cela se traduira par la création de filiales opérationnelles qui recouperont des routes européennes spécifiques. Cela doit conduire à son tour à une meilleure maîtrise des coûts et à une amélioration du service. La restructuration démarrera en février et prendra plusieurs mois à réaliser.
Pohl & Co s'allie à GeoLogistics dans la logistique du papier La société d'expédition Pohl & Co à Hambourg et la division allemande du groupe américain GeoLogistics (ex- LEP International) ont signé un accord d'alliance afin d'offrir des services logistiques intégrés à l'industie du papier. Les deux enteprises vont échanger leur savoir-faire et leurs ressources afin d'offrir un service de distribution couvrant toute la chaîne logistique de la papeterie aux usagers finaux, et ce pour une variété très importante de produits, qui vont du carton ondulé au papier d'imprimerie en passant par les papiers formatés.
C'est décidé: Prologis va acquérir Garonor La société américaine Prologis, qui exploite et loue des plates-formes de distribution, a annoncé qu'elle est arrivée à un accord pour la reprise de Garonor. Elle confirme ainsi notre information d'il y a un mois (LL du 6/11/98), selon laquelle ProLogis procédait à un audit de Garonor pour vérifier s'il n'y avait pas de cadavres dans les placards. L'opération coûtera au total 317 millions d'USD à ProLogis. Elle lui permettra de devenir un acteur majeur sur le marché européen des centres de stockage et de distibution en France et même en Europe.
Farmers calls for action on MUA "power struggle" THE New South Wales Farmers' Association has called on the state government to intervene in what it describes as "a power struggle" within the Sydney branch of Maritime Union of Australia (MUA). The Association's industrial spokesman, Duncan Fraser, claimed yesterday that the power struggle is extracting a big cost from the people of New South Wales. Mr Fraser said that while reforms in other ports since the crippling strike earlier this year had in many cases exceeded expectations, Sydney languished "while one or two selfish individuals from the MUA secured their futures." "The power struggle is simply entrenching the bad old days of the MUA in Sydney," he said.
ITF honours lost seafarers THE International Transport Workers' Federation (ITF) will contribute US$500,000 to an international memorial to seafarers which will be erected in London. According to the ITF over 2,200 seafarers die every year at work, making seafaring second only to fishing among the most dangerous occupations in the world. The memorial to the thousands of workers lost at sea every year is to be erected by a Trust Fund being established by the International Maritime Organisation (IMO). The new London landmark will be situated at the IMO's headquarters on Albert Embankment.
Criminals target shipping CRIMINALS targeting the shipping industry by trying to pass off fake office licenses as real have struck again according to shipping authorities in Vanuatu. Vanuatu has apparently again discovered a fake license and has taken prompt action against the holder who could be fined up to US$10,000. Don Sheetz, the executive vice-president of the Vanuatu registry's operational arm, Vanuatu Maritime Services Ltd (VMSL), said that intense scrutiny of all new documents presented to its New York office continues to pay off. "These criminals will not succeed as long as we and other registries continue this high level of scrutiny and exchange of information," Mr Sheetz said.
ACL Appoints Chief Operating Officer Atlantic Container Line said that company executive vice president Andrew Abbott will be promoted to COO from January 1, 1999. Abbott, who has worked for ACL since 1977 will be responsible for all day-to-day business reporting directly to Olive Rakkenes, president and CEO, the company said in a statement.
China Boosts Export Tax Rebate For Shipbuilders China's State Bureau of Taxation reportedly raised export tax rebates for ships to 16 percent from 14 percent in a move to boost exports effective October 1, 1998. The rebate hike means shipbuilders, among the sectors in China hardest hit by currency devaluations of Asian competitors, will get back all but one percent of the 17 percent value-added tax the government imposes on exports.
Sea-Land, Maersk Pick Three Port Finalists Sea-Land Service Inc. and Maersk Inc. have named Halifax, Nova Scotia, New York/New Jersey and Baltimore, Maryland, as finalists for an East Coast super port. The carriers said in a statement they are still reviewing if one megaport is the most effective option or if volumes should be spread over more than one northeast port facility.
EU Clears BP, Amoco Merger; U.S. FTC Up Next The European Commission gave its blessing to a merger between British Petroleum Plc and Amoco Corp. after the U.S. firm pre-empted antitrust concerns by selling its European polyisobutylene business. The merger was valued at $49 billion when it was announced in August. The merger must still obtain approval from the U.S. Federal Trade Commission.
Coflexip Stena Completes Pipeline Job Off California Coflexip Stena Offshore announced that one of its U.S. entities, Coflexip Stena Offshore Inc. (CSOI), has completed the Exxon Harmony Heritage pipeline. This was the first use of the new CSO MJ-Lay (modular J-Lay) spread, designed by the Group and announced in October 1997. The project, located offshore California in approximately 300 m water depth, entailed the installation of a steel gas pipeline between the Heritage and the Harmony platforms. The 12-in. diameter line was initiated by a J-tube pull and terminated with a steel catenary riser (SCR). There was a total of 13 km of pipe installed with a diversity of coatings.
Baker Hughes Appoints O'Donnell John "Andy" O'Donnell was appointed vice president for business process development for Baker Hughes Inc. His responsibilities will include managing Project Renaissance, an enterprise-wide effort to help Baker Hughes achieve cost savings by streamlining internal business processes, which was announced in 1997.
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