General Accident and CU in '14.9bn merger BRITISH composite insurers Commercial Union and General Accident are to merge in a '14.9bn ($24.4bn) deal, underscoring consolidation in the insurance sector.
Brussels set to renew attack on conferences A RENEWED onslaught by the European Commission on past activities of rate setting conferences will be launched shortly when Brussels issues its final position on service contracts issued by the Trans-Atlantic Conference Agreement.
Ulstein before tax profits rise fourfold NORWEGIAN-owned maritime production group Ulstein quadrupled its pre-tax profit in 1997 against a backcloth of strong market demand and extensive restructuring.
Smedvig unveils increased earnings OFFSHORE oil rig operator Smedvig has unveiled considerably increased earnings, and won a strong endorsement from leading stockbroker Merrill Lynch as it initiated coverage of the company, writes James Brewer.
'Tassos' grounding blamed on steering STEERING gear failure was responsible for the grounding of the Cyprus flag bulker Tassos N, which touched bottom in the Parmelia Channel off the port of Fremantle in western Australia on January 10.
Time factor 'critical' for OECD Bill JAPAN now believes that early passage of US legislation covering the OECD shipbuilding agreement depends on the availability of Congressional time rather than the contents of the Bill.
Asia crisis to bring changes in box trades ASIA'S economic crisis has produced a 'dramatic slowdown' in the world's container shipping industry which could later produce fundamental structural changes in the world market, a group of leading owners said yesterday.
Jurong diversification brings 40.5% leap in profits LEADING Singapore shiprepair facility Jurong Shipyard yesterday revealed bumper results for last year thanks to its diversification strategy and a weaker Singapore dollar, writes Edward Ion, Asia Editor, Singapore.
Brussels rebuffs IG proposals EU Commisioner Karel van Miert has rejected proposals put forward by the International Group of P&I clubs to improve transparency in their system.
Griffin to close Hong Kong office DURBAN-based shipowner Griffin is moving its shipmanagement operations from Hong Kong to Durban.
MOL to swap space with Interasia JAPANESE carriers MOL and Interasia Lines will start sharing space on each others' vessels in the Japan-Hong Kong-Malacca Straits trade next month.
Asia crisis will hit shipping, says Moller chief THERE is no doubt that the present economic turmoil in Asia will have a "major impact on shipping", according to AP Moller partner, Flemming R Jacobs.
Manila pilots ignore overtime pay ruling MOVES appear to be failing in the effort to stamp out the habit of harbour pilots collecting overtime and night differential pay from ships entering and leaving Philippine ports.
OSG results sharply higher Overseas Shipholding Group, the tanker and bulk carrier operator, has reported a sharply improved result for 1997.
Canada introduces health inspection blitz CANADA'S Health Department is launching a rigorous programme of cruiseship sanitation inspections this year to try to prevent outbreaks of influenza and other diseases.
Wilh Wilhelmsen profits double NET profits of the Wilh Wilhelmsen car carrier and roro group more than doubled last year to Nkr839m ($112m) compared with NKr345m in 1996.
Japan's ship exports up in January JAPAN exported 13 ships totalling 614,000 gt last month, up 16.4 per cent in tonnage terms over the January 1997 figure, according to the Japan Ship Exporters' Association.
Singapore must work harder, says chairman PSA Corporation will have to work a lot harder this year to improve its productivity record in the face of the Asia's current financial troubles, according to its chairman Dr Yeo Nin Hong.
Norwegian Cruise Lines profits rise NCLH has reported a sharp rise in profits but yields have been disappointing.
Samudera forecasts revenue fall SOEDARPO Sastrosatomo, president director of Samudera Indonesia, today conceded that his agency/feeder group would suffer a drop in revenues.
Gorthon Lines may make acquisition SWEDISH forestry produce carrier Gorthon Lines' expansion plans could include acquiring another company.
Torm forms alliance with Pacific Carriers DANISH liner and product tanker group Torm has formed an alliance with Pacific Carriers Ltd (PCL) of Singapore to strengthen its presence in Asia.
Japanese study European dock deregulation JAPAN'S Ministry of Transport, under pressure to reform its port operations, has sent fact-finding mission to European ports to seek their views on deregulation.
ICTSI forced to take non-box cargoes ICTSI, which operates the Manila International Container Terminal, has started to provide non-containerised handling services after a slump in container traffic.
Stevedore and state accused of collusion PATRICK, the Australian stevedoring company, has been accused of colluding with Victoria state government to stop China's OOCL from establishing an operation at Port Melbourne.
Kvaerner wins $1.1bn Carnival order KVAERNER Masa-Yards has won a $1.1bn order from Carnival Corporation for up to three cruise ships for its Carnival Cruise Lines unit.
Comment relier le deuxième accès ferroviaire au Rhin d'Acier? Si le tracé retenu par la SNCB pour le deuxième accès ferroviaire au port d'Anvers entre Ekeren et Lierre est assurément celui qui présente le moins de dommages pour les riverains et l'environnement - étant donné l'énorme concentration des constructions privées et publiques en Flandre, il n'y a pas moyen de faire d'omelettes sans casser d'oeufs -, le raccord de cette nouvelle ligne à l'est de Lierre à deux autres lignes existantes, celle vers Aerschot et celle vers Herentals, donc vers le Rhin d'Acier, pose encore problème.
Renault V.I. Belgique veut redresser la barre en 1998 Renault V.I. Belgique a concédé l'année passée une légère perte de part de marché, en dépit du lancement de ses nouveaux camions Premium Distribution et Premium Route. Elle a régressé de 8,7 à 8,3%, essentiellement à cause d'un ralentissement des ventes au premier semestre. La fermeture de Renault Industries Belgique à Vilvorde a été un facteur important, car un certain nombre d'administrations publiques - et dans une moindre mesure des entreprises privées - n'ont plus voulu acheter des Renault. Le phénomène n'a été que passager, mais l'amélioration au second semestre n'a pu compenser la baisse. RVI Belgique, par contre, a très bien entamé 1998, puisqu'une importante commande publique a pu être obtenue: un important contrat de livraison pour l'armée belge. C'est ce qui a été annoncé lors d'une conférence de presse à Bruxelles.
"Space freeze" could help problem of poor freight rates A limited form of "space freezing" cold help to solve the problem of "disastrously" low freight rates in container shipping, a leading operator suggested to delegates attending the "Containerisation International" Liner Shipping Conference in London. When the supply-demand gap widened greatly as the result of the imbalance between outbound and inbound cargo and seasonal differences, an artificial adjustment in supply was necessary and should be acceptable, said Makoto Ishii, senior managing director and chief executive of Mitsui OSK Lines' liner division.
Overweight container law leads to lighter loads on roads, ships
Customs agrees to revisit border diversion plan
Leasing strategy raises questions of legality amid fears that the practice may spread
Container lines must provide information services to survive, APL executive says
ILWU protest may disrupt Oakland
MOL revives capacity management proposal
Boeing taking steps to streamline operations
Air pact prompts JAL-American deal
Cruise ship order book hits record
Boeing to double output of 737s; deliveries on track
Port of Tuxpan will unveil roll-on service next month
Singapore airport to add 6th terminal
Alpine route rates could climb if Swiss-EU truck deal is approved
APL plans Latin alliance with Crowley, Columbus
IMF tells Yeltsin: Privatize rail system or loan may be lost
U.S. container trade with South America, Central America and the Caribbean is expected to skyrocket, leading one Florida port to set its sails on luring this business
Maine refrain: Can quiet Winterport turn into an international cargo hub?
Express fate known soon THE future of Mayne Nickless’s troubled road express operations in Australia hung in the balance yesterday after the company warned that further cost-cutting and restructuring was imminent. Announcing its half-year results to December, the company said a decision on the future of Mayne Nickless Express Road operations would be made by the year-end.
Labour backs call for NZ waterfront industry review THE NEW Zealand Labour party has lent its support to NZ First MP Peter Brown's call for an urgent review of the waterfront industry following news of 300 redundancies yesterday and the prospect of more to come. Steve Maharey, Labour's employment spokesperson, said that during the coalition talks, Labour supported the NZ First request for an inquiry into the impact of casualisation on industries like the waterfront. However, the initiative died when NZ First joined with National.
FreightCorp plans ACT terminal NSW rail freight operator FreightCorp is proposing to develop an intermodal rail terminal near Canberra and begin regular container services to Sydney within 12 months. A spokeswoman said that while the project was still in its infancy, FreightCorp management was considering a suitable long-term site for the terminal, as well as assessing potential traffic volumes from the Canberra area.
Patrick, MUA continue ‘genuine’ negotiations LITTLE progress was made by Patrick and the Maritime Union of Australia at enterprise agreement negotiations yesterday. The parties are due to meet again next Monday and Tuesday. Patrick has, so far, not committed to any major issue placed on the table by the MUA, including the 15 per cent wage increase sought by the latter over the three year term of the proposed agreement.
Maritime Union, farmers in ‘image’ battle NATIONAL Farmers Federation executive director Dr Wendy Craik has said the Maritime Union of Australia is ineffectual in its endeavors to prevent a newcomer from operating on the waterfront. In an address to the annual conference of the Pastoralists and Graziers Association of WA, Dr Craik said while it had been almost a month since Producers & Consumers Stevedoring was established, the threatened national industrial action by all unions had not happened.
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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