Shell shock! Shell today announced the intention to vacate the big four national head offices in Europe as part of a massive reorganisation of the oil giant. This means closures of Shell's offices in London, Paris, Hamburg and Rotterdam.
Firmer price trend maintained After the sharp rise seen in bunker prices at the end of last week, the price gains have to a large extent been maintained throughout week 38. Without much basis in demand, several major bunker markets have been led by other fundamentals this week.
US markets rebounding US bunker markets suffered badly in August and early September. Up until August, major US bunkering ports were consistently more expensive than trendsetting European and Asian ports, but in August the price differential first disappeared and then became negative.
Expected breakup of Pertamina Monopoly Foreign investors are expected to play a larger role in the Indonesian oil markets, as the government are due to submit new laws limiting the monopoly powers of state oil company Pertamina.
Bunkerworld breaks the megabite barrier Since the opening days of September however, Internet traffic on Bunkerworld.com has gone through the roof, with over 6200 individuals visiting the site. Together they generated nearly 160.000 separate page hits, consuming more than 350 Megabytes of information.
Manila grain terminal plan might be revised PHILIPPINE Ports Authority (PPA) might revise its plan to set up a grain terminal at the port of Manila in light of the economic slowdown.
Shell T&T shares tumble after profits warning SHARES in Shell Transport & Trading tumbled today on the London market on news of a significant deterioration in second half trading conditions.
Alluvial build-up hinders trade at Barranquilla A GENERAL cargo vessel was denied access to the Port of Barranquilla this week, becoming the first victim of the build up of alluvial sludge in the Magdalena River estuary.
Students win LR safety prize FOUR school students from Wells, UK, have won the Lloyd's Register Safety Prize at the Young Engineers for Britain competition final.
Shipping overwhelmed by regulations, claims NOL SHIPPING has reach saturation point as regards the number of regulations being thrust upon it, according to Joseph Kwok, group chief operating officer of Neptune Orient Lines.
Singapore to boost maritime training SINGAPORE Polytechnic, the republic's top maritime training and education centre, is to open its doors to overseas students in an effort to boost falling numbers.
Adami states concern over Malta Drydocks MALTESE prime minister Dr Eddie Fenech Adami has warned that "problems loomed very large" at Malta Drydocks.
Transport association welcomes TACA fine THE UK-based Freight Transport Association has welcomed the EC fines on the 15 members of the Trans Atlantic Conference Agreement.
UK firms to develop Indian ports A CONSORTIUM of British companies is at an advanced stage of negotiations for the development of port facilities at the Indian ports of Dahej and Maroli in the state of Gujarat.
Chinese oil imports take a dive CHINESE imports of crude oil slowed down sharply in July, according to statistics released by the Chinese Customs House.
Australian wharfies take redundancy REDUNDANCY payments totalling A$90m ($53m) have been made to cover 726 wharfies on Australia's waterfront.
BC government close to purchase of stevedore THE sale of Canadian Stevedoring to the British Columbia government appears as though it will go ahead with the agreement of the province's two major ports.
Indonesia to end Pertamina monopoly A DRAFT law that proposes ending the oil and gas monopoly of Indonesia's state owned energy company Pertamina is set to be submitted to Indonesia's parliament.
Chinese 'not serious', warns FMC THE Chinese are not serious about resolving the issues in the dispute over the US-China shipping agreement, according to the US Federal Maritime Commission.
FMC to meet on Pacific rate increase CITING a flood of complaints from shippers, the FMC said it would meet next week to discuss the recent increase in freight rates in the trans-Pacific shipping lanes.
Steel producers seeks government protection STEEL producers in Canada and the US are asking their governments to take action against an influx of cheap hot-rolled steel from overseas.
Rhine shipping back to normal INLAND waterways shipping along the river Rhine has almost returned to normal after heavy rain, German navigation authorities said.
India considers full foreign investment in ports INDIA is to consider allowing full foreign investment in port and road projects.
HHLA builds container terminal in Lubeck HHLA, the Hamburg terminal operator is to build a container terminal at the Baltic port of Lubeck.
How did Jeff Harshman find himself a footnote to history in Washington's latest sex scandal? Harshman runs Speed Service, a courier service used by Monica Lewinsky in ferrying her gifts to President Clinton. Harshman wishes he "had never been a part of it," but his story on how his company was a bit player in the Starr vs. Clinton controversy is told in detail.
The Federal Highway Administration is considering extending its current 10-hour truck driving limit to 14 hours, followed by a mandated 10-hour rest period. Tighter restrictions would be imposed on those operating commercial vehicles between midnight and 6 a.m. The rules would affect 8 million commercial drivers as well as 425,000 operating in interstate commerce. A final rule is not expected until 2000.
CSX is adopting Conrail's Local Area Management approach for its carload business beginning in November with a pilot program on its Nashville, Tenn., service lane. Ronald Conway, CSX executive vice president of operations, was instrumental in putting the system in place at Conrail as head of operations there. He found LAM to be an easy sell at CSX, which has been looking for ways to break down traditional barriers between operations and marketing. CSX is hoping to duplicate the success that Conway had at Conrail by placing responsibility for profit and loss in the hands of local trainmasters.
Jevic Transportation is expanding its Midwest reach with opening of new terminals in Cincinnati and Cleveland. Also, Jevic is greatly expanding its facilities in New England and Chicago. Jevic executives say they have formed a marketing agreement with Cincinnati-based Triumphant Enterprises to help it with density and add freight in its Midwest operations.
K-Line is going global. Even though it handled only about 1 percent of the cargo on the transatlantic trade route last year, it propelled K-Line into global carrier status by giving it the final leg of service reaching around the globe. Now K-Line and its vessel-sharing partners, Yangming Marine Line of Japan and the China Ocean Shipping Co., are more than doubling service on the lane with nine ships. K-Line CEO Yoshio Iinuma calls it a "dream" for the company.
Oh, to be a publicly traded freight forwarder. Times have been tough on Wall Street for the nonasset-based transportation providers, which as a group have watched their stock prices drop at least 50 percent over the last 12 months. Uncertainty over international markets coupled with a potential U.S. economic recession have Wall Street investors nervous about having their money tied up with very cyclical and very internationally focused companies. Despite the depressed stocks, CEOs from a number of the top freight forwarding companies remain confident that they are in the best segment of the transportation industry.
The Great Silk Road to the Orient isn't what it was in the days of Marco Polo, but the European Union and the nations of central Asia and the Caucasus are trying to reopen the ancient route, with trucks and rail networks replacing horses and caravans. The modern Silk Road would compete with the Trans-Siberian rail route through Russia and ocean shipping lanes and help deliver Caspian Sea oil to the West. An agreement signed in Baku, Azerbaijan, by nations from the eastern fringe of Europe through to the Chinese border may speed development of the region's transportation infrastructure.
Randy T. Clark has left his post as managing director of Emery Global Logistics to become executive vice president and chief operating officer/North America for Circle International Group Inc. Clark joins David I. Beatson two months after Beatson left Emery to become president and CEO at the leading West Coast logistics and freight forwarder.
In its quest to provide excellent customer service, APL has continually transformed its award-winning website and dramatically increased its web traffic in the process. APL currently processes more than 25,000 customer requests a month, according to Hank Moreira, APL's webmaster. Companies can do just about everything except pay on APL's site, said Hans Hickler, vice president of customer support. The next step is adding complex freight management ability to its site. APL plans to add various performance reports by the middle of 1999.
Orient Overseas (International) Limited (OOIL), the subsidiary of the Chinese shipping group COSCO Shipping Holdings that operates containerized maritime transport services with ...
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