Mercosur bridge project nears go-ahead date MERCOSUR's version of the Channel Tunnel could be given the go-ahead as early as November if approved by the Montevideo senate, according to one of the chief engineers.
First half losses cut to $219m at Eurotunnel EUROTUNNEL has reduced its underlying first-half net losses to '130m ($218.8m) from '323m in the same period a year earlier. Half-year passenger shuttle traffic increased by 85%.
Swedish shipping seeks silver lining in election SWEDEN's shipping industry is straining to isolate a few silver linings amid the overall confusion thrown up by Sunday's national election. It is hoped that the increase in parliamentary clout secured by the ex-communist Left Party and parties of the non-Socialist persuasion will, somehow, rub off on the industry's fortunes in the long run.
Canada urges greater finance sector freedom A special task force set up by the Canadian government has recommended that banks and insurance companies should be allowed greater freedom to compete in each other's sectors.
Tumen development scaled down A seven-year programme that once aimed to transform the remote Tumen River into the "Rotterdam of north-east Asia" has been dramatically scaled down.
Transport links urged between Arctic regions Canadian foreign minister Lloyd Axworthy is calling for increased transportation links between the Arctic regions of the eight circumpolar nations and free trade between those regions.
Delhi urges oil tender delay India's Ministry of Surface Transport has urged the petroleum ministry to postpone a tender by the Indian Oil Corporation for coastal transportation of clean petroleum products, including high-speed diesel, petrol and kerosene.
Mass street protest in Kuala Lumpur Riot police guard a Kuala Lumpur courthouse as 7,000 protesters demanded the release of former finance minister Anwar Ibrahim who was due to be arraigned yesterday. Police fired water cannon and tear gas in an attempt to disperse them.
Frontline to raise nominal value of shares FRONTLINE has called its agm for October 19 with a proposal on the agenda to increase the nominal value of the shares.
Seafarers slam Marina over ferry sinking THE Philippines' Maritime Industry Authority has been strongly criticised by seafarers following the sinking of the 13,734 grt ferry Princess of the Orient.
Ferry survivors accuse crew of deserting them SURVIVORS of the Philippine ferry Princess of the Orient have alleged that the officers and crew deserted them as the ship sank.
DANE to order trimaran passenger ferry GREEK ferry operator DANE Sea Lines has announced it will place a $55m order with the Australian shipbuilder Incat for the construction of a trimaran passenger ferry.
Rammed containership sinks in Colombo A FEEDER containership, the 287 teu Leerort, sank in Colombo harbour on September 19 after it was rammed by 2,480 teu Zim Piraeus.
Naviera Pinillos cuts losses dramatically SPANISH container line Naviera Pinillos reported a loss of Ptas32.9m ($230,000) on revenues of Ptas4bn for the first half of 1998, much improved on last year.
Eurotunnel in profit from debt shake up EUROTUNNEL, the Channel tunnel operator, has reported a surge in traffic and an improve-ment in net profit, thanks to debt restructuring.
Italian owners still in bidding for SNAM tankers THREE Italian owners remain in the bidding for four tankers put on the market by Italian owner SNAM last April.
Indian government to divest SCI shares INDIA'S government is to reduce its equity in Shipping Corp of India (SCI) to 51 per cent of the total shareholding.
Another collision off Singapore ANOTHER collision has taken place in Singapore waters, this time involving a container feeder vessel and a bulkcarrier.
Escort tug controversy continues A PLAN by the Washington State Department of Ecology (DOE) to station a rescue tug near the entrance to the Strait of Juan de Fuca is being opposed.
Australian port productivity soars PRODUCTIVITY is said to have greatly improved under new labour structures at Australian ports operated by the Patrick stevedoring company.
Malta Shipbuilding struggles after accounts frozen MALTA Shipbuilding is struggling to stay open as its bank accounts were frozen.
Grain majors back CN take-over of Illinois Central GRAIN companies have come out in support of Canadian National Railway's proposed take-over of the Illinois Central Railroad because the deal could provide better port access.
Groupe Bourbon enters Paris stock exchange FRENCH shipowner Groupe Bourbon is to enter the Second Market of the French stock exchange.
Intertanko meets MPA over navigational safety INTERTANKO md Dagfinn Lunde met officials from Singapore's Maritime and Port Authority (MPA) on September 19 to discuss navigational safety issues.
BV ejects ships as turnover grows BUREAU Veritas' has ejected 198 vessels so far this year, following 252 vessels last year for non-conformity with class rules, but turnover grows.
150 missing, believed drowned, as ferry sinks PHILIPPINE Coast Guard and Navy patrols continued to search for bodies today after the roro ferry Princess of the Orient sank on September 18 during Tropical Storm 'Vicki'.
Caterpillar Logistics va créer un EDC à Bornem pour Toshiba Electronics La société de fabrication de semi-conducteurs Toshiba a confié sa logistique en Europe à la société américaine Caterpillar Logistics Services, basée à Zaventem. Celle-ci va créer pour la société japonaise un centre européen de distribution (EDC) à Bornem. C'est ce que nous a déclaré David Ecklund, vice-président de Caterpillar Logistics Europe, à l'occasion d'une visite à l'EDC qui a été construit pour Hyundai Motors à Lummen, dans le Limbourg belge. Cette plate-forme, exploitée pour le compte du constructeur automobile coréen, est en effet opérationnelle depuis peu. Elle sera officiellement inaugurée ce vendredi.
UAL/AOGC assure un service retour sur Anvers Tout récemment, le service conjoint assuré par les armements nigérians Universal Africa Lines et AOGC, le transporteur vraquier national (1), s'est distingué à Anvers en y présentant un cargo multipurpose tween-decker, le m/v "Yola" de 6.400 t.dw, dont c'était la première escale et qui, en tant que quatrième unité, vient renforcer ledit service. En effet, la fréquence passe à trois départs par mois.
GMT Shipping Line lance un service mixte sur le Nigeria Vers la fin du mois d'octobre, le jeune armement GMT Shipping Line Inc (UK) se manifestera pour la première fois à Anvers dans le cadre d'un nouveau service de ligne régulière mixte, donc axé sur le breakbulk et les containers, au départ de la Baltique et de l'Europe du Nord et en direct à destination du Nigeria, à savoir Lagos Apapa. Hambourg sera également directement concerné.
Forte hausse des résultats semestriels d'Eurotunnel Les résultats financiers d'Eurotunnel ont été marqués par une forte hausse du bénéfice opérationnel, une baisse encourageante des pertes et un bénéfice net résultant d'un bénéfice exceptionnel généré par la restructuration financière. Dans un communiqué, Patrick Ponsolle, le président d'Eurotunnel, déclare qu'il s'attend à une hausse tant du trafic passagers que du trafic fret grâce à une augmentation de la capacité des navettes fret et à la création de corridors de fret européens, la promotion que mèneront les nouveaux exploitants d'Eurostar (RU) dans le but d'attirer de nouveaux clients et la création de la ligne à grande vitesse entre Londres et Folkestone.
P&O Ports clears decks for change P&O Ports has moved a step closer to introducing changes in work practices on the waterfront by terminating existing, uncertified, enterprise agreements. This was confirmed yesterday by P&O Ports director, Australia and new Zealand, Andrew Burgess. Mr Burgess told DCN the Maritime Union of Australia was advised of the termination earlier this month and the agreements had since lapsed. He said this was pending the negotiation of new working arrangements which the stevedore wished to introduce in consultation with the union.
Bridge money welcome but inadequate While on the one hand welcoming the coalition's commitment to provide $20 million towards a National Highway bridge upgrade program -- to pave the way for the introduction of the NRTC's proposed new truck "mass limits" regime -- industry and local government organisations have generally labelled it "woefully inadequate". On Friday, Federal Transport Minister Mark Vaile said the $20 million in commonwealth funding would act as a catalyst for negotiations with the states on their contributions to the bridge upgrade program designed to enable truck mass limits to be increased from 42.5 to 45.5 tonnes for trucks with "road friendly suspensions".
'Policies are off the track' Rail 2000 executive director of Mark Carter has roundly criticised the federal coalition and the ALP for displaying a lack of any real commitment to initiating the radical changes required by the industry after the 3 October election. He said the coalition's rail policy was still essentially based on its provision of $250 million in rail upgrade funding through the Australian Rail Track Corporation. "The only additional funding is $60 million and that's coming from the private sector and the States," Mr Carter said.
Narrabeen inquiry under way An investigation was in progress in Sydney yesterday to determine the causes of a near disaster at Sydney Harbour at the weekend. The Manly ferry Narrabeen hit rocks off Middle Head while sailing through a narrow passage between the landmark and an exclusion zone which had been set up to test Olympic sailing arrangements. The incident occurred at about 4.30pm on Sunday when the vessel, capable of accommodating 1100 passengers, was sailing from Manly to Circular Quay with about 500 people on board.
Cotton-packin' first for Brisbane Brisbane is set to become the only Australian port to pack cotton at the wharf with a deal signed between the Port of Brisbane Corporation and Island Packing and Storage to build three cotton storage sheds on Fisherman Islands. The sheds, to be located behind wharves 6 and 7, will provide a total of 12,000 square metres storage capacity and will be completed in time for the anticipated record cotton crop in 1999. "The fact that Fisherman Islands has been purpose built as an intermodal port complex gives us the advantage of having land immediately available directly adjacent to the wharf," Port of Brisbane Corporation chief executive officer Graham Mulligan said.
The Suez Canal Authority has announced that it will introduce surcharges on transit tariffs through the Egyptian canal for most major cargo vessels, effective July 15.
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