Concordia bullish on profit SWEDISH tanker company Con-cordia, which specialises in operating older tonnage to the most demanding class standards, has raised its forecast for 1998 full year profit to SKr130m ($16.4m), from SKr100m.
Pakistan death denial Reports that six people were killed when a US missile aimed at Moslem rebels in Afghanistan fell short of its target and landed in Pakistan were denied last night.
Ugland Nordic upbeat after record interims SHUTTLE tanker specialist Ugland Nordic Shipping has turned in a record financial performance - and expects to go on producing strong results.
Malta Drydocks cuts losses in first half MALTA Drydocks claims to have halved its losses, from more than M'5m ($12.8m) to M'2.5m, in the first half of 1998.
Sea Launch optimistic despite US work halt Despite problems with the US State Department, officials with the Sea Launch operation in Long Beach are optimistic that the consortium's plan to launch communications satellites from a sea-going launch pad will not be sidetracked.
CIM offers courses on equipment MARKETING training courses specially tailored to suit the requirements of the UK marine equipment industry are now being offered by the Chartered Institute of Marketing in association with the Department of Trade and Industry and the British Marine Equipment Council.
World vessel orders to rise WORLDWIDE orders for new vessels should start to pick up next year after reaching rock bottom in 1998, according to a new report by the Gothenburg-based Insti-tute of Shipping Analysis.
'3,000 fines for offshore death Two oil companies have been fined a total of '3,000 ($4,922) following the death of a man crushed in an offshore accident.
ICTSI to open two more terminals MANILA-based terminal operator International Container Terminal Services Inc says two overseas ports will open before the end of the year.
Asian shippers press for greater transparency PRESSURE from Asian shippers could force lines to introduce greater transparency when fixing rates.
Jurong joins Singapore's towage operators SINGAPORE'S Jurong Marine Services was today issued a 30-year public licence to provide local harbour towage services by the Marine and Port Authority of Singapore.
HK owners to launch training scheme HONG Kong shipowners are launching a pilot programme next month to train 240 unemployed men to work on ships.
Concordia ups full year forecast CONCORDIA Maritime has raised its forecast for full year profits to Skr130m ($17m) from Skr100m after releasing bullish figures for the first half of the year.
Shuttle train operator holds rates TRANSFRACHT International, the Deutsche Bahn subsidiary, says it will not increase its rail rates this year, despite the takeover from September 1 of Dutch rail operator NDX.
Singapore tops world port ranking DESPITE growing competition from regional ports and local economic turbulence, Singapore retained its position as the world's busiest port last year.
India approves $1.5bn port investment INDIA'S government has given clearance to over 40 port projects to be developed in the next four years, involving investment of around Rs 66bn ($1.5bn).
China Shipping sets up passenger ship division CHINA Shipping set up its passenger shipping division on August 18, with its headquarters at Dalian and a branch company in Shanghai.
India christens first double hull tanker INDIA'S first double hull oil tanker, built at state owned Cochin Shipyard, was christened yesterday as Abul Kalam Azad by surface transport minister Thambidurai.
Washington lumber exports collapse GRAYS Harbor, one of the largest forest products ports on the US Pacific Coast, has reported a 60 per cent drop in log and lumber exports for the first six months of the year.
P&O Nedlloyd discounts strike P&O Nedlloyd has played down suggestions that seafarers on board Dutch-flagged ships would strike to underline their demands for a new collective labour agreement.
Rhine water level restricts shipping LOW water levels on the Rhine river in Germany are now causing serious problems for shipping, with vessels forced to accept less than their full loads.
DFO to sell and leaseback ferries GERMANY'S largest ferry company, DFO, has agreed a deal to sell and leaseback three ferries with German finance company Gefa-Leasing, a subsidiary of the Deutsche Bank.
Crowley responds to Caribbean competition CROWLEY American Transport has responded to heightened competition in the Caribbean by launching a new service between the US and Venezuela.
East Coast ports are bulging, with Philadelphia, Norfolk, Charleston, New York and Savannah all reporting healthy increases in TEUs over last year. But, unlike their West Coast counterparts, there's little gridlock among East Coast ports. That's because the cargo transportation pattern operates differently on the East Coast than on the West Coast. The East Coast's highway network and a great availability of trucks makes it a snap to get cargo off ships and on the highways. East Coast railroads such as Norfolk Southern and CSX are promising even better service once the breakup of Conrail is effected.
Tolls might be coming to an interstate highway near you - but first there's a fight by highway interests to keep them out. A provision of the Transportation Equity Act for the 21st Century, or TEA-21, allows for tolls on interstate highways in 18 states. But just the thought of tolls "means war," said one highway lobbyist. "Adding tolls is like charging rent on a house you already own," said Bill Fay, president of the American Highways Users Alliance.
The Teamsters union is practically broke. The IBT's net worth plummeted to $3.5 million as of last Dec. 31, a drop of $13 million last year. The IBT's net assets have dropped by $150 million since 1992. Most of the money has been spent supporting strikes, including the 1994 LTL strike and last year's 15-day walkout against United Parcel Service. The UPS strike cost $12 million. The union's shaky finances probably will cause a delay in this fall's Teamsters election, which some Republicans in Congress have balked at financing despite being required to do so under the federal government's consent decree with the union.
Union Pacific Railroad has decided to go full bore with plans to decentralize its rail operations. An internal memo by UP Chairman and CEO Dick Davidson outlined the first phase that includes separating the railroad into three geographical operating regions. Davidson says the revamping will lead to better customer service, although others say it bucks the trend toward centralization of merged companies.
There is a fairly good chance the Federal Maritime Commission could wind up in a face-off against both Japan and China, threatening ship fines, either this fall or winter. The FMC has been looking for more than a year into alleged Chinese restrictions on U.S. companies doing maritime business there. The FMC imposed $100,000 fines per ship per U.S. port call on Japanese carriers last year.
United Parcel Service is cruising toward a record year if the first six months are any indication of things to come. UPS made $810 million in the first half of the year, a figure that is sure to help the company eclipse its highest annual net income of $1.15 billion in 1996. A number of things are helping UPS post such stellar profits. Its international business, because the majority of its customers are U.S.-based companies, seems to be insulated from the problems in Asia. And fuel prices are down dramatically, translating into about $700,000 in savings a day. UPS's domestic volume is still down over last year and it remains to be seen if the company ever will win back the volume it lost during the strike one year ago.
Amoco Corp. has selected Petrolsoft Corp. to manage its supply chain. Petrolsoft's supply-chain software is specific to the retail petroleum industry and won out over Manugistics' software because of that industry-specific focus, said Petrolsoft President and CEO David Gamboa. Petrolsoft wooed Amoco for two years and won the oil company over with its Windows interface and cost-optimization capabilities. The next step will be making its software "tier 1" compatible, Gamboa said.
Transport companies that depend on pricing strategies that add fixed costs to all shipments are just asking for trouble. They are pricing themselves out of the market, one LTL consultant said. Cost-based pricing results in prices that are higher than competitive conditions warrant, a consultant said at the American Institute for Shippers Associations annual conference in San Francisco.
High technology is being used to speed border crossings. Thanks to the North American Free Trade Agreement, two programs that add an application of technology are trying to ease the headaches of getting freight in and out of Mexico and Canada. The programs are designed to use X-ray equipment, electronic data interchange and the Internet to give customs officials an advance word of what's inside a truck before it approaches a border crossing. Although periodic inspections always will be a way of life at the border, officials are hoping this high-tech advantage will enable some shippers to avoid long lines getting freight in and out of this country.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
