Yards may shut in Kvaerner overhaul KVAERNER'S Govan, Kleven, Larvik and Mandal yards face the threat of closure or sell-off after the group's new chief executive announced a companywide overhaul of Europe's biggest shipbuilder.
Japan oil majors set to merge Nippon Oil and Mitsubishi Oil have announced a merger which will create Japan's biggest oil company.
Owners warned of UK tax clamp SHIPOWNERS - especially those with UK agency offices - must be sure that they comply with new Inland Revenue rules to avoid being penalised as the UK tax authorities crack down on the understatement of profits, shipping and insurance accountant Moore Stephens has warned.
Kvaerner Warnow Werft faces EC capacity investigation EASTERN German shipyard Kvaerner Warnow Werft faces investigation by the European Commission over allegations that it has exceeded capacity restrictions.
New Dolphin delay adds to Saga misery SAGA Petroleum's misery over the much delayed Bideford Dolphin rig conversion continued this week as the company announced that the rig would not be available for work this year.
Harwich wins go-ahead for channel deepening Harwich Haven Authority will next month start deepening its main channel, by two metres, allowing Port of Felixstowe to accept new generations of containership with fewer tidal restrictions.
Southampton's new box terminal hopes high OPPOSITION from local politicians has not dampened enthusiasm at the Port of Southampton for its Dibden Bay container terminal project.
ASF to set up secretariat THE Asian Shipowners Forum is contemplating setting up a permanent office or secretariat to improve the service to its members.
PPA holds off on pilotage decision THE Philippine Ports Authority has declared that it will not rescind an order mandating the separate payment of docking and undocking fees for pilotage services in major ports
Christiania 3Q profits slump CHRISTIANIA Bank's third quarter profits have dropped sharply to Nkr 359m ($49m), compared to Nkr 675m in the corresponding period of 1997.
Colombo transhipments stalled TRANSHIPMENT container traffic growth at Colombo has been negligible this year, largely because of the Asian economic crisis, according to Sri Lanka Ports Authority.
LloydBras fleet to be sold VESSELS owned by Lloyd Brasileiro, the state-owned operator, will be sold next month by auction.
MARPOL being evaded says Intertanko INTERTANKO'S Short Sea Tanker Group has highlighted 'evasion tactics' in European waste disposal facilities, following its recent meeting in Brussels.
Strong demand lifts Ulstein STRONG demand for its products helped Ulstein Holdings, the Norwegian marine equipment and shipbuilding group, to increase its pretax profit by 65 per cent
Kvaerner appoints new chief KVAERNER'S board of directors today confirmed the widely-tipped appointment of Kjell E Almskog as the new president and ceo.
Congress frees funds for double-hull study CONGRESS has passed a Coast Guard appropriation bill that will provide funds for a study of alternatives to the double-hull tanker design required by the Oil Pollution Act of 1990.
Reefer slump hits Nomadic THE poorest rates for reefer vessels for 15 years dragged Nomadic Shipping, the Norwegian reefer operator, to a pre tax loss of Nkr 94.9m ($12.4m) in the period January-August
Congress blocks OECD agreement THE US Congress has again blocked the 1994 OECD agreement that restricts shipbuilding subsidies, when it failed by a wide margin to pass new trade negotiating legislation.
Chennai reintroduces reservation scheme CHENNAI port will reintroduce the berth reservation scheme in its container terminal, following a decision yesterday by the port's board of trustees.
Slater backs Mississippi port plan PLANS by the Port of New Orleans to build a 650-acre container terminal near the mouth of the Mississippi River have been endorsed by US transportation secretary Rodney Slater.
Le trafic de ligne entre les Amériques (côte ouest) en voie de rationalisation Quels que soient les trafics de ligne régulière de par le monde, les taux sont à la baisse, exception faite des segments westbound entre l'Asie, l'Europe et l'Amérique du Nord, pour les raisons que l'on connaît. Dans la plupart des trafics, les taux se sont progressivement déterriorés sous la pression des mega-carriers opérant au sein d'alliances ou en solitaire, qui draînent les cargaisons inhérentes aux relations Nord-Sud pour alimenter leurs réseaux à grande capacité Est-Ouest. La crise financière asiatique contribue à aggraver les choses dans bien des trafics. Nous prendrons pour exemple les derniers développements qui se manifestent dans les relations entre les Amériques du Nord, centrale et du Sud, plus particulièrement sur la côte ouest. Pour ce secteur opérationnel, l'heure est à la rationalisation.
Le projet Bolero offre un grand avantage aux expéditeurs A partir du premier décembre le concept Bolero sera lancé officiellement par le biais d'un projet-pilote. Ce concept devra définitivement mettre en route le commerce électronique international. Une douzaine de chaînes de transaction testeront le projet. La Belgique figure parmi les pays qui participeront au projet-pilote. Le volet transport sera soutenu par la participation de sept armements et quatre prestataires de services logistiques.
Début des travaux au Centre routier d'Anvers Les échevins anversois Leo Delwaide et Mieke Vogels ont posé hier mercredi "le premier pavé" du Centre routier, marquant ainsi le démarrage officiel des travaux de viabilisation du terrain situé entre la Spitsenstraat et la Kempenstraat, dans le quartier appelé "het Eilandje", dans la partie la plus ancienne du port d'Anvers.
Industry sceptical about 'settlement' meeting Hope for the settlement of productivity problems at Botany Bay rests with a meeting between New South Wales Minister for Industrial Relations and Fair Trading Jeff Shaw and P&O Ports management on Monday. Mr Shaw discussed the problems with the central New South Wales branch of the Maritime Union of Australia on Wednesday, later blaming the federal government for the situation. Industry sources were sceptical, however, whether the state government had the capacity of addressing the issue, a fact acknowledged by the minister.
Latest Waterline: Productivity 'normal' but reliability hit Overall national stevedoring productivity, as measured by the five-port average, changed little from the March to the June quarter according to the latest edition of the Waterline report published by the Bureau of Transport Economics. The five-port average crane rate, which measures productivity per crane while the ship is worked, was 18.7 containers an hour for the June quarter compared with 18.8 in the March quarter.
Levy audit abandoned The problem-plagued Coopers and Lybrand audit of over-payments by shipping lines under the now abandoned Stevedoring Industry Levy, has been terminated, according to DCN's well-placed sources. The former Department of Workplace Relations and Small Business has apparently decided to terminate the audit due to the continuing inability of the lines to provide detailed information about the amounts they allegedly overpaid under the levy. The levy was imposed in order that the lines contribute about half the $300 million cost of funding payments to waterside workers made redundant under the WIRA process.
WA paves way for Westrail sale THE Western Australian government has put some of the legislative framework in place to accommodate the sale of Westrail's freight business. Amendments have just been introduced to the government Railways Access Bill which account for the proposed private ownership of the rail authority. The amendments will remove all references to government ownership of the railway replacing references to the WA Railways Commission with the words railway owner. The Access Bill, which is before the Legislative Council, has been introduced to allow Westrail's competitors to gain access to its 5400km of track.
Newcastle's glad tidings The port of Newcastle has reported another milestone in vessel movement efficiencies, moving four Cape size vessels recently on a single tide. The first of the four bulk carriers which made the event possible was the 292-metre Rubin Grace sailing from No. 5 Dyke with 142,045 tonnes of coal on board. She was followed by the 269-metre K Phoenix which loaded 124,000 tonnes of coal at No. 5 Kooragang. As soon as these vessels cleared the harbor entrance, the 289-metre China Steel Express and the 268-metre Hanjin Roberts Bank entered the port heading for No. 5 Kooragang and No. 5 Dyke respectively.
Kvaerner names Kjell Almskog new CEO Kvaerner ASA appointed Kjell E Almskog, 57, as its new President and CEO effective January 1, 1999. Almskog, current Executive Vice President and member of the Group Executive Committee of ABB Asea Brown Boveri Ltd., in Zurich, Switzerland, will succeed Erik Tonseth. Almskog currently heads the rapidly growing oil, gas and petrochemical activities of ABB. He was appointed to this position earlier this year when ABB reorganized its top management and created a new segment for these activities. Kvaerner was reportedly impressed with Almskog's 12 years with ABB, where he demonstrated remarkable leadership and has a record of managing very successful operations.
LR And Warsash Launch STCW 95 Compliance Program Lloyd's Register (LR) and Warsash Maritime Center have joined forces to provide an independent assessment scheme to aid compliance with the Seafarers Training, Certification and Watchkeeping Code (STCW 95). The new scheme is to help flag state administrations, maritime training institutions and manning agencies satisfy the requirements of the Code, which arises from an International Convention of the International Maritime Organization (IMO). The STCW 95 Code demands that all seafarers attain and maintain a defined level of competence. Flag state administrations are responsible for ensuring that, among other things, the certification of seafarers is in accordance with the requirements of the Code.
Oil Dips Further Below $13 A big build in U.S. crude stocks is cited as one culprit in overshadowing calls for further output cuts. As a result, Benchmark Brent blend stumbled 11 cents lower to $12.85 a barrel.
CSE Suspends Trading Of Knud I. Larsen The Copenhagen Stock Exchange reportedly suspended trading in shipper Knud I. Larsen (KiL) shares following an announcement that the company was suspending payments to creditors.
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