Daewoo acts to help ease Korean crisis MANAGERIAL staff at Daewoo Heavy Industries have accepted salary cuts of 10%-15% and shipyard production personnel have agreed to work an extra hour a day for no additional payment to help pull the South Korean economy through its financial crisis.
FPSO blockade halted A BLOCKADE of BP's Schiehallion FPSO in Belfast harbour by Greenpeace was cut short yesterday, after safety considerations forced the environmental action group to abandon its protest, writes Quentin Sommerville.
Box chartering undergoes a lull THIS is the time of year when the containership charter market becomes blurred. Brokers complain that everyone seems to shut up shop over Christmas and the New Year in Europe, reopening for a short while in early January. And then it all slows down again for the Chinese New Year.
Ras Laffan receives 'negative implications' STANDARD & Poor's has retained on its CreditWatch "with negative implications" two bond issues totalling $1.2bn from Ras Laffan Liquefied Natural Gas Co.
Global lines in new alliance HYUNDAI Merchant Marine, APL and Mitsui OSK will operate under the name New World Alliance in their new network of global container shipping services.
Shippers pledge to move more cargo with Taca members SHIPPERS have pledged to move more cargo this year with members of the Trans-Atlantic Conference Agreement under annual service contracts than in 1997, writes Janet Porter.
US pilot crackdown move THE US Coast Guard has proposed new regulations requiring that all merchant vessels in foreign trade on North Carolina's Cape Fear and Northeast Cape Fear Rivers must be under the direction and control of federally-licensed pilots, unless state licensed pilots have control.
Transroll to boost service capacity BRAZILIAN shipowner and operator Transroll Navegacao is to boost its capacity and frequency between north Europe and east coast South America in May with the deployment of the 1,650 teu Sirius.
NCLH rejects takeover rumours THE Oslo-based cruise shipping group NCL Holding has issued a statement rejecting rumours that P&O's Princess Cruises might bid for the company.
Substantial shipyard overcapacity forecast THERE will be a substantial overcapacity in world shipbuilding by the year 2000, according to Nomura Research of Japan.
Mercur Tankers buys roro ship MERCUR Tankers has bought a roro container vessel in a move to widen its activities outside the tanker business.
Japan remains top ship exporter JAPAN remained the world's largest ship exporter last year for the fourth consecutive year.
Currency woes hit Asian steel exports SOUTH Korea's economic turmoil threatens to put a dent in its steel-making industry.
Weak currencies threaten Chinese builder WEAKENING Korean and Japanese currencies are a major threat to the competitiveness of Chinese shipyards, according to the president of China State Shipbuilding Corp.
Judge rules on Lloyd's Names A JUDGE today ruled that Lloyd's had now produced a finality statement in an "intelligible form" which complied sufficiently with the requirements of Equitas clause 5.10.
Gibraltar tug company plans MBO HOWARD Smith, the UK-BASED towage and salvage company, appears to be in the first stages of negotiating a management buyout of its Gibraltar subsidiary.
Sea Containers announces record carryings THE launch of the SuperSeaCat on the English Channel helped Sea Containers reach record carryings on passenger and vehicle carrying services last year.
Thamesport wins Canadian service THE St Lawrence Co-ordinated Service (SLCS), operated by Canada Maritime and OOCL, is switching its UK port of call from Felixstowe to Thamesport from next month.
BV launches ISM software AN ISM compliant software system was unveiled yesterday by BV and Trident Software Developments, in the first such tie up between a software company and a class society.
Weak yen slows down Japanese-flag decline THE decline in the number of Japanese-flagged ships has slackened because the weak yen has boosted their competitiveness.
Sweden reaches ITF accord THE majority of Swedish-owned foreign registered vessels will soon be covered by collective agreements at a level acceptable to the International Transport Workers Federation (ITF).
Texaco boosts bunkers in Gibraltar TEXACO is to restructure its bunkering operations in Gibraltar from February 1.
Owners protest against new Brazilian tax A NEW tax on shipowners imposed by the Brazilian government earlier this month has sparked a huge protest from a shipowner's body.
Trinidad signs natural gas deal TRINIDAD and Tobago is set to become a major player for lng exports after the government yesterday signed an agreement to finance a $1.6bn project.
Firm rates boost Teekay FIRM freight rates for aframax tankers and lower bunker fuel costs boosted fourth quarter results for Teekay Shipping.
Antwerp container dock wins approval THE regional government of Flanders in Belgium has given official authorisation for the construction of a Bf 15bn ($397m) tidal container dock with direct access to the river Scheldt.
OCHZ: un mia. de BEF investis dans la nouvelle dimension A la mi-1999, le terminal à containers de l'OCHZ (Ocean Container terminal Hessenatie Zeebrugge), dans l'avant-port, présentera une physionomie totalement différente, celle d'une installation ultra-moderne apte à traiter des PC de 4.000 TEU et plus, dans des conditions plus optimales qu'aujourd'hui et ce, dans le contexte de dessertes rapides, tant côté maritime que terrestre car ladite installation reste également un terminal ferroviaire. L'outil comptera alors 8 portiques dont 3 super-postpanamax et une grue Gottwald, ceci pour une capacité annuelle de 400.000 containers ou 540.000 TEU.
J. Bellekens va construire une nouvelle plate-forme de groupage La société de transport routier international J. Bellekens a été élue Transporteur de l'Année 1998 par les lecteurs du magazine Truck & Business. Cette entreprise de groupage devrait connaître cette année une évolution importante, avons-nous appris lors de la réception ayant suivi la remise du trophée. Jozef Bellekens nous a en effet déclaré que de toutes nouvelles installations, sensiblement plus grandes que les actuelles, seront construites.
L'année de tous les records pour le complexe portuaire liégeois La région liégeoise connaît, depuis quelques années, une activité portuaire en expansion continue. En 1997, Liège renforce encore, devant Strasbourg et tous les grands ports rhénans, sa position de troisième port européen d'intérieur, derrière Duisbourg-Ruhrort et Paris, dont elle se rapproche. En effet, avec 23,9 millions de tonnes manipulées, Liège réalise, en 1997, une progression de 10,63 % par rapport à 1996.
Les autorités fédérales respectent le calendrier des réformes de la navigation intérieure "En vue de la libéralisation complète de la navigation intérieure en 2000, j'ai précisé à toutes les parties concernées que la Belgique transposerait la directive 96/75 du Conseil des Communautés européennes dans la totalité de ses aspects, en ce compris le timing proposé". C'est ce qu'a répondu le ministre fédéral des Communications Michel Daerden à une question parlementaire de J. Van Eetvelt du CVP.
Filing opens North American questions The implications of yesterday’s filing of a space charter and sailing agreements by the three conference carriers in the north American trade, Australia-New Zealand Direct Line, Blue Star Line and Columbus line are still under discussion. As reported yesterday, the carriers have made the application with United States’ Federal Maritime Commission and will have to wait up to 45 days before receiving a ruling.
Asian freight rates slide on bulk trade Asia’s currency crisis has sent freight rates for the bulk commodity trade plummeting by as much as 20 per cent, with shipping sources forecasting that the trend will continue until at least the third quarter of this year. Shipping brokers say the combination of the high level of service on shipping routes between Australia and Asia and reduced demand for bulk commodities has driven freight rates down by around 8 per cent over the past few months.
Wellington terminal OK ‘premature’ Reports from New Zealand this week that agreement has finally been reached on construction of a new ferry terminal at Wellington’s Glasgow Wharf, replacing the existing terminal, have been dismissed by the Port of Wellington and the Wellington City Council. Ken Harris, the port’s chief executive said that the port was still negotiating with (terminal user) Tranz Rail and was a long way off beginning construction.
Safe boating campaign In a campaign launched in Fremantle this week, recreational boat owners have been urged to exercise more care when approaching commercial shipping vessels. The safety campaign, which is being jointly run by the WA Department of Transport and the Fremantle Port Authority, features a video which shows the problems faced by ships’ masters and pilots in confined waters and the safety measures the owners of pleasure craft can take to prevent collisions.
Queensland Rail’s flood bill tops $3m The damage bill to rail-related infrastructure following the recent record floods in northern Queensland had reached $3 million, Queensland Rail said yesterday. Flood-ravaged northern Queensland continued its massive clean-up this week, as most vital transport links and services in the region around Townsville returned to normal.
Asian ills infect more players Japanese trading houses appear to be among the latest victims of the financial crisis plaguing Asia. Meanwhile, vessels in the sagging fleet of Halla Merchant Marine are up for grabs and even the mighty Hyundai is scrambling to relieve its debt load... eliminating the most likely saviour of the once-expansive Halla shipyard. In Indonesia, shipping companies linked to the faltering Suharto regime are putting on a brave face.
Greeks linked to VLCC orders NKK Corp in Japan is reportedly close to signing a USD 168m newbuilding deal for two VLCCs with a Greek shipowner.
Baltic truce leaves some still fuming A massive row inside the Baltic Exchange over its plans to launch a tanker freight futures index has simmered down, with the London Tanker Brokers Panel (LTBP) ending its opposition.
Bets placed on New York cruise project A new gambling-cruise operation about to be launched in New York by a group with strong links to Singapore-based Star Cruises reflects enthusiasm for a potentially lucrative market here rather than a souring on economically troubled Asia, a top executive tells TradeWinds.
B+H boosts fleet with Ceres ships B+H of the US is expanding its fleet of product/chemical tankers, reportedly purchasing four vessels from Ceres Hellenic Shipping of Greece for USD 42m en bloc.
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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