Nippon Yusen takes over Showa JAPAN'S leading shipping group Nippon Yusen Kabushiki Kaisha is taking over financially troubled compatriot Showa Line, which operates more than 90 vessels primarily in the bulk trades.
Halla stakes future on core units SOUTH KOREA'S bankrupt Halla Group will be restructured around three core subsidiaries specialising in car part manufacturing, cement and construction, according to chairman Chung Mong-won, writes Tony Gray.
Coflexip profit surges on 49% revenue growth FRENCH subsea contractor and equipment supplier, Coflexip, has announced net consolidated profits up from FFr76m ($12.5m) in 1996 to FFr553m last year after seeing revenues rise 49% to FFr7.32bn.
Generali subpoenaed over Holocaust records LEADING Italian insurer Assicurazioni Generali and five of its officers have been subpoenaed by the State of Florida, which has demanded that they produce Holocaust-related insurance records for a May 5 hearing in Miami.
Trailstar faults rail network DUTCH intermodal transport operator Trailstar has voiced serious criticism of the European rail transport network, claiming it has four new services ready to launch which are blocked by a host of factors.
Shuttle companies set up trade association NETHERLANDS-based rail shuttle operators have established a new industry association, the Nederlandse Vereniging van Rail Operators, writes Alan Dickey, Netherlands Corres-pondent.
Philippines opens largest oil terminal SUBIC Bay Distribution has formally opened the Philippines' largest oil terminal at Subic Bay. The Peso6bn ($162m) oil depot and pier facility will have storage facilities in both Subic Bay and the Clark Special Economic Zone.
Asia crisis hits Stolt-Neilsen ASIA'S economic crisis is hurting the profit performance of Stolt-Nielsen, the world's leading chemical tanker operator.
Donaldson calls for flag state oversight SOME form of discipline should be introduced to monitor flag states' ISM certificates, according to Lord Donaldson.
Token strike at Colombo DOCK workers at Colombo port went on strike today to protest against plans to hand over the Queen Elizabeth Quay to an international consortium led by P&O Australia.
Lines form "United Alliance" HANJIN Shipping, DSR-Senator Line, Cho Yang Shipping and United Arab Shipping have announced that they will henceforth operate as the United Alliance.
Cosco Pacific nets $122m and eyes acquisitions CONTAINER lessor and terminal operator Cosco Pacific has reported net profit of $122.7m for 1997.
Bona plans measures to boost share value BONA Shipholding, the Bermuda-based aframax and suezmax tanker owner, is planning measures to boost trading in the company's stock and lift the value of its shares.
Nissos Amorgos master given 45 days at home THE master of the tanker Nissos Amorgos has been granted permission to return to Greece by Judge Dra Elida Caldera.
Lines oppose Philippine charges SHIPPING lines are opposing the latest cargo handling rate increases being proposed by the terminal operators.
India calls for development of coastal shipping INDIA'S director general of shipping, NP Pinto, is calling for a separate act of parliament to free coastal shipping from day to day control by customs authorities.
Ports account for quarter of Hutchison profits PORT operations accounted for 25 per cent of the HK$12.26bn ($1.58bn) profit recorded by Hong Kong-based Hutchison Whampoa for 1997.
Bridge Oil's patience is wearing thin BUNKER supplier Bridge Oil is running out of patience with the Republic of Ukraine, which still owes substantial sums of money in connection with bunkers supplied to Blasco vessels.
German shipping aid package moves ahead THE German parliament's transport committee has approved the government's new package of tax cuts and other measures to help the country's shipping industry.
North Atlantic service ends GERMAN shipping company Rostock Atlantik Linie (RAL) has confirmed it has ended its new trans-Atlantic container service and will start a Europe-West Africa service.
Share price dips for Patrick's parent STOCK prices for leading Australian stevedore, Patrick, have fallen as a result of prolonged industrial disputes and a gloomy new independent forecast for the company's future.
Linfox eyes Australian stevedoring AUSTRALIAN transport company Linfox has indicated it may enter the stevedoring industry to "streamline container delivery in Melbourne and Sydney".
Viking considers flag shift VIKING Line, the Finnish ferry operator, is to flag its fleet out to Norway if the Finnish government refuses to reform taxation of shipping profits.
PSA sets up office in Dalian PSA Corp opened its first overseas representative office in Dalian yesterday to enhance the administration of its expanding interests in China and to seek new business opportunities.
Keppel Corp acquires Hitachi Zosen Singapore SINGAPORE'S Keppel Corp has taken control of Hitatchi Zosen Singapore (HZSL), the smallest of the island's major yards, with the injection of a major part of its shiprepair and building operations.
Solvang considers merger Solvang shareholders will meet on May 11 to discuss a merger plan.
UDL confirms Rotorua departure Intense competition and depressed rates were yesterday blamed for the removal of Union Rotorua, one of the three roll-on roll-off ships operated on the trans-Tasman trade. Australia New Zealand Direct Line announced that it will not be renewing the charter on the vessel, previously used on the dedicated Australian service under the Union Direct Line brand name. The company intends to operate a streamlined two ship service bolstered by feeders through the hub port of Wellington.
Patrick denies 'deliberate collapse' Patrick yesterday strenuously denied Maritime Union of Australia claims that the stevedore was deliberately engineering its own collapse in order to sell the company without the workforce. Patrick director Bill Clayton described the scenario as nonsense, saying he had spent considerable time at teach meeting with the union stressing to its leaders the serious harm which was inflicted on the company by the union actions.
Four more airports sold The federal government yesterday announced the identities of its preferred purchasers of four more airports under the second phase of its airport sales program. The Ministers for Transport and Finance Mark Vaile and John Fahey said the sale of the remaining 'phase 2' airports - Archerfield in Queensland, Essendon in Victoria, Darwin and Tennant Creek - were expected to be finalised by 30 June this year following the participation of interested consortia in a limited re-bid process.
AMC 'launches' new simulator The Australian Maritime College's $4.5 million integrated marine simulator will be commissioned by Federal Minister for Employment Education Training and Youth Affairs Warwick Smith in Launceston tomorrow. The facility comprises a ship handling and ship operations simulator which, according to the college, can provide diagnostic training over a few days equivalent to years of "hands on" experience.
Beaufort under further attack Australian Peak Shippers Association executive president Frank Beaufort has come under further attack for recommending shippers avoid stevedore Patrick during the company's protracted dispute with the Maritime Union of Australia. After harsh criticism from Workplace Relations Minister Peter Reith, Mr Beaufort's views have also been slammed by the Australian Chamber of Shipping, the Australian Chamber of Commerce and Industry and the Western Australian Shippers council.
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