Halla seeking $1bn loan boost SOUTH Korea's bankrupt Halla Group is seeking a $1bn bridging loan as the cornerstone of its restructuring programme, it was disclosed yesterday.
Attica plans $400m investment to double fleet SHAREHOLDERS in Greece's Attica Enterprises have backed proposals for a new Dr20.18bn ($62.4m) capital increase, paving the way for a $400m ferry-building programme which will double the size of the company's fleet.
Japan firms pessimistic about dry bulk market MAJOR Japanese shipping companies are pessimistic about the trend in freight rates on the world's dry bulk markets and fear that dry bulk freight rates could fall by 20% in the near term.
Mitsui orders LPG carrier for Itochu deal MITSUI OSK Lines has placed an order with Mitsubishi Heavy Industries for the construction of a single 78,000 cu m LPG carrier under a long-term charter contract with Osaka-based trading house Itochu Corporation. This is the first transaction between Mitsui OSK Lines and Itochu in the LPG business.
Philippines takes action on standards THE Philippines will stop substandard maritime schools from accepting applicants for maritime degree programmes beginning school year 1998-99 but will allow these schools to operate until 2002.
Crew of arrested 'Obo Basak' will not be paid CREW members from the arrested Marti Shipping bulk/oil carrier, Obo Basak, which was sold on Friday, may not be paid because harbour dues are nearly equal the sale price and take precedence over crew wage settlements.
OECD Agreement faces US funds scheme threat OECD Shipbuilding Agreement supporters abroad may soon have cause for more concern about US adherence to the pact's Standstill Understanding because of a scheme that has been concocted in Washington political circles.
'Transshelf' ships huge genesis sections BELGIAN heavy-lift operator Dockwise has successfully completed the transportation of two giant sections of the production spar Genesis from Finland to the US Gulf in an operation which took only 24 days to complete.
CSD raises $49m for tankers HONG Kong listed China Shipping Development (CSD) has raised HK$380m ($49m) to fund an acquisition of 19 oil tankers from its parent company.
China encourages Taiwanese trade links. BEIJING has repeated an invitation to Taiwan for talks on direct trade links.
Wharf faces court costs of up to $45m WHARF Holdings of Hong Kong faces a pay-out of up to HK$350m ($45.16m) after a High Court judge found one of its former subsidiaries liable for the bulk of costs in a court battle.
Profits and state aid up for Transmediterranea SPANISH ferry company Trasmediterranea reported a consolidated profit for 1997 of Pta 990m ($6.5m) on revenues of Pta 49bn, but state subsidies also increased.
Sembawang takes tug delivery SINGAPORE-based Sembawang Marine & Logistics (SML) today took delivery of the Sea Cougar, the first of four new 4,000 bhp tugs.
New World to buy Pacific Ports HONG Kong-listed New World Infrastructure is purchasing 45.83 per cent of Pacific Ports Co and making a cash offer for the rest of the stock.
Australian exports gain sovereign guarantees INDONESIA'S central bank has signed an agreement with Australia's Export Finance and Insurance Corporation to provide guarantees for Australian exports.
I M Skaugen 'to stage recovery' NORWEGIAN lpg operator, IM Skaugen, is set to stage a substantial improvement this year and next, forecasts Handelsbanken Markets.
Geogas negotiating lpg carrier order GEOGAS, the French-run and Geneva-based lpg shipping and trading house, is reported to be negotiating the order of a 78,000 m' lpg carrier with South Korea's Daewoo shipyard.
Chantiers' RCI order worth $600m THE recent order secured by France's Chantiers de l'Atlantique for two large cruise vessels for Royal Caribbean International is said to be worth more than $600m.
Premier Cruises raises $160m PREMIER Cruises, the Miami based operator of second hand cruise ships, has raised $160m via a high-yielding bond.
Gothenburg gains two more cranes TWO post-panamax container cranes costing a total $20m have arrived at the port of Gothenburg's container facility.
India appoints two transport ministers TWO ministers have been allotted the surface transport portfolio in India for the first time.
ICTSI enters insurance market PHILIPPINE port operator, ICTSI, has set up an insurance broking subsidiary.
Philippines to adopt own safety rules MARINA, the Philippine Maritime Industry Authority, is planning to adopt its own rules on safety management to govern the operation of domestic vessels.
Launch date set for controversial ferry THE first of the controversial fast ferries being built by Catamaran Ferries International of Vancouver will be launched by the BC Ferry Corp on June 18.
One day's grace before week-long Botany strike Strike action at Patrick's Botany Bay terminal has been delayed for a day, and a seven-day strike is now due to start tomorrow. As advice about the cancellation of today's strike was received only yesterday morning it was already too late to change arrangements put into place for vessels which were due at the terminal today.
Park report flags pollution focus The marine, Coastal and Estuarine Investigation interim report - which proposes the establishment of a marine park encompassing the southern end of Victoria's Port Phillip Bay including Melbourne and Geelong shipping channels also covers the issues of ballast water disposal, hull fouling and oil spills. The report recommended that oil spill response planning continue to be the prime responsibility of the Marine Board of Victoria.
Singapore Airlines to boost freight services Singapore Airlines aims to boost freight capacity and choice between Australia and Asia when the northern summer's schedule takes effect later this month. SIA cargo manager Australia Barry Loughnan said the airlines upgrade and increase in services into and out of four Australian state capitals would lift available capacity by 14 per cent.
Pot of money for fright councils The Department of Transport and Regional Development expects the states and territories to notify the government soon of their acceptance of a dollar-for-dollar offer of up to $200,000 over two years to establish air and sea freight export councils in major centres around Australia. A department spokesman said the councils would in most cases be incorporated with memberships consisting of all players in the export-transport chain from farmers to shipping and airline company representatives.
ASU 'unconvinced' by FreightCorp plans The union representing workers at NSW rail freight operator FreightCorp was unconvinced that the company's general redundancy plans were satisfactory, despite lifting bans imposed last week. FreightCorp train movement were affected across NSW last Friday, after the Australian Services Union instructed members not to roster locomotives to any FreightCorp train from Thursday evening.
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