CP Ships plans liner merger with TMM CP Ships is merging two of its subsidiaries with the container shipping activities of family-controlled Transportacion Maritima Mexicana to create a powerful new regional carrier in the Latin American trades.
Mexican firm still in red TRANSPORTACION Maritima Mexicana has posted net losses of just under $8m for the second quarter of this year, an improvement on the first quarter but still significantly worse than the same period last year, writes Justin Stares, Buenos Aires.
Uruguay hub plan in doubt MAERSK Inc's $100m-plus bid to make Montevideo's container terminal a hub for South America now lies in the hands of Uruguayan transport minister Lucio Caceres.
Stopford returns to Clarksons MARTIN Stopford, chief executive of Lloyd's Maritime Information Services, is to rejoin British-based shipbroker Clarksons next month.
US Bill seeks $2.3bn war on drug sea and air links CONGRESSMAN Bill McCollum has filed legislation to authorise nearly $2.3bn in fresh funds for a new effort to halt the flow of cocaine and heroin into the US by sea and air from Latin America.
Belgian firms clear Scheldt wrecks BELGIAN companies Scaldis Salvage and Dredging International are to begin clearing wrecks in the Scheldt estuary next month, as part of a six-year plan to clear the main shipping channel and improve access to the port of Antwerp, writes Dale Wainwright.
Rotterdam box trade up 10% ROTTERDAM general freight totals edged ahead 1.6% to 157m tonnes in the first six months of 1998 with container handling up 10.5%, or 280,000 teu.
Car carrier may be total loss after blaze A VEHICLE carrier laden with more than 3,700 new and used cars may be declared a constructive total loss after a serious fire off the Sharjah coast.
Star Cruises sells to Hyundai ASIAN cruise operator Star Cruises today announced the sale of its 1972-built 3,202 dwt SuperStar Sagittarius to Hyundai Merchant Marine.
Jacobs' profits soar UK ship and port operator Jacobs Holdings has reported a four-fold increase in pre-tax profits from '1.4m to '5.3m ($8.7m) for the first half of the year.
CP and TMM create container major CP Ships and Transportaci'n Mar'tima Mexicana have formed a 50-50 joint venture merging the operations of TMM, Lykes Lines and Ivaran Lines into a 40-ship container fleet.
Australia threatens livestock trade suspension AUSTRALIA has threatened to suspend live cattle trade with the Middle East following the death of almost 30 per cent of a cattle shipment to Israel.
ICB confident STOCKHOLM-based tanker operator, ICB, is confident that the present strong market will continue during the rest of 1998.
Sea-Land-Mærsk in Gioia Tauro talks US and Danish megacarriers, Sea-Land and Mærsk are each to take a 25 per cent stake in the Medcenter terminal operation at Gioia Tauro.
Stopford to return to Clarksons DR Martin Stopford, currently chief executive of Lloyd's Maritime Information Services, is to rejoin the shipbroker Clarksons in August.
WG&A's profits collapse PHILIPPINE domestic shipping operator WG&A posted a 33 per cent fall in profits for the first half of the year.
Los Angeles sets new box record LOS Angeles port has managed to set a new container handling record with 3,145,529 teu in its 1997-98 fiscal year, eclipsing last fiscal year'scontainer volume record by 9 per cent.
Chennai congestion surcharge extended CONTAINER feeder lines operating through Chennai port to Singapore, Port Klang and Colombo have extended the congestion surcharge through to August 31.
L&T sells shipping division MUMBAI-based engineering company Larsen and Toubro is selling its shipping division for $40m.
Gordon urges courts to stall blood-shed OUSTED Subic Bay Metropolitan Authority chief, Richard Gordon, has urged the Philippine Court of Appeals to advance his hearing to prevent a repeat of Sunday's blood-shed.
Mexico grain imports may complicate rail problems AN expected surge in US grain exports to Mexico this summer could complicate US efforts to improve rail services for agricultural shippers, a US official said yesterday.
Five stowaways die in Genoa FIVE stowaways from Tunisia have died in a fire on board the 8,000 dwt ro-ro vessel Linda Rosa while approaching the port of Genoa.
IUA elects deputy chairmen ANTHONY Medniuk, the md of British Aviation Insurance Group, and Stephen Riley, md of Swiss Re UK, have been elected as deputy chairmen designate for the IUA of London.
Mombasa congestion hits liner operation PERSISTENT congestion at the Kenyan port of Mombasa has resulted in the termination of a vessel sharing agreement on the Europe to Indian Ocean Islands and East Africa trade.
MUA - Patrick settlement in doubt THE FUTURE of the settlement between Patrick and the Maritime Union of Australia (MUA) was in serious jeopardy yesterday, on the eve of what is supposed to be the final meeting of creditors of Patrick's four labor hire companies this morning. Not only was there no settlement in sight, but according to one source "the whole thing could collapse." Crucial to the agreement is the settlement of legal action instigated by the Australian Competition & Consumer Commission (ACCC) against the MUA under secondary boycott provisions of the Trade Practices Act. There was still no sign of that settlement yesterday and it was also unclear whether the union's attempt to sign the documents with a clause noting the need for settlement with the ACCC would be successful.
Safmarine takes control of SCL THE SOUTH African shipping line, Safmarine, is to take control of SCL following agreement its Belgian partner, CMBT Lines. Although Safmarine's local agents have not been notified of the move at the time of going to press, it is understood that the South African carrier will pay an US$55 million on cash as part of the arrangement. SCL is described as a north-south container shipping specialist. Meanwhile, in other overseas shipping moves, CP Ships and Transportacion Maritime Mexicana (TMM) have agreed to form a 50-50 joint venture which will merge the container shipping businesses of TMM, Lykes Lines and Ivaran Lines. With its initial revenue base of US$1.2 billion and an annual volume of one million 20 ft container equivalents (teus), the new joint venture will rank among the 15 largest container shipping lines globally. It will operate 40 ships and a container fleet of 150,000 teus.
OOCL expands services, again ORIENT Overseas Container Line (OOCL) has announced enhancements to the Scan-Baltic Express service (SBX) launched only in April of this year. The weekly fixed day service will now call the United Kingdom port of Blyth, make both an eastbound and westbound call at Hamburg and add a call at Bremerhaven. The new port rotation is Hamburg, Rotterdam, Blyth, Bremerhaven, Hamburg, St Petersburg, Kotka and Aarhus before returning to Hamburg. The second call at Hamburg will significantly improve the overall transit time of cargo originating from Asia, Canada and the United States mid-west.
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