Lasmo bids '600m for Monument LASMO yesterday made a '600m ($970) agreed takeover offer for fellow British exploration and production company Monument Oil & Gas as long- awaited market consolidation sparked into life.
Aftermath of the midwest tornadoes As many as 45 people were feared dead and many more were missing yesterday after what US president Bill Clinton described as "some of the most powerful tornadoes ever recorded" hit the midwest.
Hessenatie defiant in concession award row Antwerp stevedore Hessenatie's general manager Jan Pellens said a complaint to the European Commission over the award of the concession for the port's third container terminal to a Hessenatie and Mediterranean Shipping Company consortium will not affect the terminal's go-ahead.
Romano Prodi team facing tough vetting European parliamentarians warned European Commission president-designate Romano Prodi yesterday they were prepared to delay appointments to his new executive team if nominees did not meet high standards.
New Cosco chief braced for rough seas "SMOOTH seas can never make a strong sailor," comments Cosco (Hong Kong) Group president Dong Jiufeng, when asked about the state of play of the international shipping business.
New director for Bahamas open register LONDON consultant John Mervyn Jones is to succeed John Dempster as director of The Bahamas Maritime Authority.
Deck cargoes may be risk to boxship safety The Nautical Institute is seeking the opinion of its members as to the safety of containerships following a number of incidents involving damage to large ships and extensive losses of containers overboard.
Buyer for lowline ships Receivers have found a buyer for British shipowner, Lowline's, three vessels - the cruiseship Edinburgh Castle and the offshore supply vessels Lowland Pioneer and Lowland Cavalier, writes David Mott. But the deal will first have to be ratified by the Admiralty Court in London. Receivers PricewaterhouseCoopers, appointed by Royal Bank of Scotland, would not disclose the name of the buyer. Cammell Laird, the UK shiprepair group, has been mentioned as a possible buyer. But it confirmed that all three vessels had been purchased by a single buyer.
Geodis Logistics acquiert l'Italien Borghi Trasporti La société Geodis Logistics Italie, filiale du groupe français contrôlé par la SNCF, a acheté la société Borghi Trasporti. "Cette acquisition s'est faite dans le cadre de la stratégie de développement européen des activités logistiques", dit un communiqué. Cette opération pourrait avoir des conséquences pour l'alliance Eurotech.
Hausse de 36% du bénéfice de Union Transport Le prestataire de services logistiques Union Transport a conclu l'exercice 1998 sur un CA de 571,1 mio. de USD, une hausse de 8% par rapport à 1997. Le bénéfice a augmenté de 36%, de 11,8 à 16 mio. de USD. Ces excellents résultats sont le fruit des acquisitions stratégiques, qui ont généré un hausse du CA dans toutes les régions du monde.
German Parcel reprend Der Kurier German Parcel Paket-Logistik GmbH, une division de l'entreprise britannique Post Office, a repris l'entreprise express allemande Der Kurier avec effet rétroactif au premier janvier 1999. De cette manière, German parcel pourra proposer l'ensemble de la gamme de produits de services de messagerie, express et de colis et cela tant au niveau national qu'international. Ainsi, la société-mère The Post Office pourra concurrencer la division express de Deutsche Post. Cette reprise n'aura aucune influence sur la coopération entre Der Kurier et la filiale de La Poste Chronopost, estime un porte-parole de cette dernière.
Katoen Natie saisit le Conseil d'Etat et la CE La politique de concession du port d'Anvers est soumise à rude pression. Après que l'AGHA (l'Association des Intérêts Portuaires d'Anvers) et Noord Natie - par la bouche de son président Philip Van gestel - aient exprimé leur inquiétude suite à la tendance qui consiste à attribuer des terminaux dédiés à des services de lignes réguliers, le groupe Katoen Natie reprend le flambeau.
First Olsen Tankers to Acquire Tankers First Olsen Tankers Ltd. said it has entered into agreements with Mosvold Farsund AS and Fred. Olsen-related companies to acquire three Suezmax tankers and one Suezmax shuttle tanker. FOTL said it will also acquire the remaining 50 percent of the shares in Knock Tankers Ltd. Through the proposed transaction, FOTL said it would become one of the world's largest owners of modern Suezmax tankers, increasing the size of its fleet from seven to 11 vessels.
Panama Customers Not Worried Scarcely batting an eyelash at the spirited run-up to Panama's presidential polls, Panama Canal customers say they expect no threat to operations of the waterway no matter who is in charge when the U.S. hands it over later this year. The U.S., which has operated the canal since it opened in 1914, is scheduled to pull out its troops from Panama and hand over the canal along with U.S. military bases and other facilities to the Panamanian government by Dec. 31.
Intermarine Sells Savannah Shipyard Italian holding company Compart said its shipbuilding unit Intermarine sold its Savannah, Ga., shipyard and certain luxury yacht contracts to Savannah Yacht & Ship Llc and BCT Real Estate Llc. The buyers will pay $14.35 million plus $1.53 million to partially cover losses that took place in the first months of 1999. The sale resulted in a loss of $30.3 million for Compart, already accounted for in 1998 balance sheet.
Trico Downgraded by Moody's Moody's Investors Service downgraded to B1 from Ba3 its rating on Trico Marine Service's $280 million of 8.5% senior unsecured notes due 2005, and to Ba3 from Ba2 its rating on an amended $85 million secured bank facility. A US$80 million-equivalent (NOK 600 million-denominated) reducing bank revolver at wholly-owned Saevik Supply ASA is not rated. The senior implied rating is B1.
Kuwait Petroleum Group to Finance Tanker Kuwait's Independent Petroleum Group and Dubai-owned Emirates National Oil Co have signed a $12 million financing deal to buy a crude and petroleum products tanker, announced the Kuwait Stock Exchange.
International Ship Register Proposed Finland's autonomous Aland Islands proposed creating an international ship register that would prevent Finnish vessels from sailing under foreign flags, but would shield the islands' economy as well. Aland's plan also includes a new tonnage tax on vessels.
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