Strintzis in $100m share plan STRINTZIS Lines, con-sidered one of Greece's top three ferry operators, said yesterday that it intends to increase its share capital to part-finance a planned $285m expansion of its fleet.
Osprey set to take control of LNG carrier SINGAPORE energy ship-ping group Osprey Maritime expects to take majority control of a $265m liquefied natural gas carrier under construction in Japan.
Dutch call off tank storage venture A PROPOSED merger between Dutch giants Pakhoed and Van Ommeren, making them the leading player in the world tank storage sector, has fallen through, the firms announced yesterday.
Election time Japanese prime minister Ryutaro Hashimoto, in Tokyo yesterday, checks his watch as he speaks from the top of a van at the start of his campaign for the Upper House elections to be held on July 12. Mr Hashimoto has vowed to lead his ruling Liberal Democratic party to victory. To achieve this ambition, his party must win 69 of the 126 seats being contested.
'Positive outlook' for southeast Asia SOUTHEAST Asian trade can bounce back from the ravages of financial crisis, offering positive prospects for the maritime industry, a new report has predicted.
India to offer 49 oil blocks A TOTAL of 49 oil exploration blocks in India will be on offer during August, under the New Exploration Licensing Policy, according to the ministry of Petroleum and Natural Gas.
Bazan yard to pull out of commercial sector A GOVERNMENT-imposed restructuring plan at Spain's leading naval shipbuilder, Bazan, will see it withdraw from commercial shipbuilding.
South Korea lifts 'spy' submarine A NORTH Korean submarine with a crew of eight, all of whom are feared dead, was hauled to a South Korean Naval dockyard yesterday after being raised from the seabed.
Van Ommeren/Pakhoed merger is off ROTTERDAM-based Van Ommeren and Pakhoed have today called off merger plans.
New vessels for Dart Line DART Line, a subsidiary of the UK's Jacobs Holdings, is to take delivery of two new vessels for use on its twice-daily freight only service between Thames Europort and Vlissingen.
P&O Nedlloyd seamen to vote on strike action DUTCH seafarers' union FWZ is polling 550 seamen employed on P&O Nedlloyd's Dutch flag ships over possible strike action on wage levels.
Nouvelles Frontieres returns to cruises FRENCH tour operator Nouvelles Frontieres is returning to the cruise sector by again chartering the 1955-built, 420-passengership Princess Danae for the winter season.
Germans, Dutch merge rail companies THE rail freight divisions of the German and Dutch railway companies, DB Cargo and NS Cargo, are to be merged to form a new operator, Rail Cargo Europe (RCE).
Mærsk pushes US port limits REGINA Mærsk will become the largest containership ever to call on the east coast of North America next month, testing the ability of US ports to handle mega carriers
Windstar cancels Asian cruises SEATTLE-based Windstar Cruises has cancelled plans to position its sail-assisted cruise vessel Wind Star in south-east Asia because of the political unrest in Indonesia.
NAI to raise $47m SHAREHOLDERS of Italian tanker operator Navigazione Alta Italia have given their approval to a Lire83bn ($47m) recapitalisation plan that anticipates a fleet expansion.
India earmarks $2bn for ports IN its ninth plan, India's government has earmarked Rs80bn ($1.9bn) for port development, according to the Ministry for Surface Transport's annual report.
Kvaerner in Aker bid rumour A RUMOUR is circulating on the Oslo stock market that Kjell-Inge Rokke's Aker RGI invest-ment group might bid for parts of or for the entire Kvaerner group.
Strike paralyses Kakinada port A STRIKE by dockers at Kakinada port in India has caused 16 vessels, waiting to be loaded with rice, to be stranded for the past ten days.
Marseilles enjoys World Cup cruise boom MARSEILLES port has profited from this year's World Cup, which has made it a key port of call for numerous cruise vessels including the legendary Norway.
Japanese lines to counter US complaint THREE major Japanese shipping companies involved in a dispute over alleged rate setting on liner routes are consulting attorneys in Washington.
Junk bonds under fire HIGH yield bond capital has again come under fire, this time at the Ship Finance Forum held in New York.
Chinese shipping practices under fire from US US SENATOR Ernest Hollings, the senior Democrat on the Senate Commerce, Science and Transportation Committee, has urged the FMC to investigate Chinese shipping practices.
Concern voiced over Oakajee project A WESTERN Australia MP has raised concerns over the propopsed Oakajee deep-water port to be built in the state.
Philippines port costs outstrip revenues HIGHER stevedoring charges and fixed fees from private port operators in Manila have been outweighed by a faster rise in costs.
Yokohama 'to cut back port development' YOKOHAMA port is expected to cut back on plans for a massive terminal development project because of shortage of finance.
CMA/CGM met en place sa réplique à l'offensive de Mærsk sur les Antilles Le premier résultat consolidé que présente le groupe CMA/CGM, est positif, avec un chiffre d'affaires en progression de 3,2% à 7,7 milliards de FRF et un bénéfice net de 64 millions. D'autre part, l'endettement a pu être maîtrisé au niveau de 1,23 mia. de FRF, malgré les investissements réalisés. Farid Salem, directeur général de la CMA, et Alain Wills, directeur général de la CGM, ont toutes les raisons d'être satisfaits. "La privatisation de la CGM était une question qui se posait depuis dix ans. L'opération n'était pas gagnée d'avance, mais en un an, nous avons redressé sa situation, et cette année, l'entreprise est rentable", a dit F. Salem lors d'une conférence de presse.
La fusion entre Pakhoed et Van Ommeren n'aura pas lieu Les groupes néerlandais Van Ommeren et Kon. Pakhoed ont décidé d'annuler leur fusion. Cette décision est inspirée par l'exigence de la Commission européenne de se défaire d'une capacité additionnelle d'entreposage de pétrole.
Aide d'Etat à Air France: la Commission rappelée à l'ordre Le Tribunal de première instance des Communautés européennes à Luxembourg a annulé hier la décision de la Commission européenne d'autoriser les autorités françaises à pomper 20 milliards de FRF dans Air france pendant la période 1994-1996 Les juges ont estimé que la Commission n'a pas suffisamment motivé sa décision sur deux points essentiels. Les nombreux autres griefs présentés par les requérants sont été rejetés dans un arrêt de plus de 100 pages.
Kinnock rêve d'un grand espace de transport européen Le réseau de transport d'Europe centrale et de l'Est TINA (Transport Infrastructure Needs Assessment), le pendant des Réseaux de Transport Transeuropéens (RTE) de l'UE - et dont Neil Kinnock estime que la réalisation coûtera près de 90 mia. de XEU (voir LL du 25/6/98) entre 1998 et 2005 - sera constitué de 18.030 km de routes, de 20.290 km de voies ferrées, de 38 aéroports, de 13 ports maritimes et de 49 ports fluviaux. Les onze pays concernés par l'aménagement du réseau, qui sera par la suite relié aux RTE dans l'UE, sont la Pologne, la Hongrie, la Tchéquie, la Slovaquie, la Slovénie, l'Estonie, la Létonnie, la Lituanie, la Bulgarie, la Roumanie et Chypre, qui sont tous candidats à l'adhésion à l'Union européenne.
Signed: seal and delivery pending Patrick and the Maritime Union of Australia (MUA) yesterday signed an agreement ending one of the most bitter waterfront disputes in years. Patrick's parent company, Lang Corp Ltd, announced the signing in a statement to the Australian Stock Exchange. Lang Corp managing director and Patrick chairman, Chris Corrigan, said the agreement would deliver reforms sought by the company for years.
Labor hire companies may wind up early A meeting of creditors of Patrick's four labor hire companies adjourned until 20 July is likely to be held earlier, although not before 10 July. The voluntary administrators of the companies, Peter Brook and Bill Butterell of Grant Thornton, said yesterday their administration "had moved significantly closer towards a practical conclusion". They said the votes in favor of the agreement between Patrick and the Maritime Union of Australia in Melbourne and Sydney had coupled with lawyers setting a practical timetable for the conclusion of the administration.
Levy Bill may pass On the eve of the Senate's scheduled debate yesterday on the Stevedoring Levy (Collection & Imposition) Bills, the report of the parliamentary inquiry into the Bills recommended they should be passed subject to several amendments being made in line with the government's commitment to exempt movements of domestic cargo from the levy. The report by the Senate Rural and Regional Affairs and Transport Legislation Committee noted that during its inquiry it became apparent that matters related to the redundancy payment and levy scheme proposed by the government, were about to be settled as a result of negotiations between Patrick Stevedores and the MUA.
Rail: no 'integrated transport policy' Rail lobby groups have greeted Prime Minister John Howard's announcement of a viability study into the Melbourne-Darwin Inland Rail Expressway System project with mixed responses. Rail 2000 has called on the federal government to urgently develop a strategic rail blueprint for Australia and questioned what effect the Melbourne-Darwin rail line would have on the sale price for the commonwealth's stake in sell-off target National Rail.
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