Owners set to act over OMM call CONCERTED shipowner legal action against ailing P&I club Ocean Marine Mutual appeared one step closer yesterday as it emerged that international law firm Clyde & Co has sent a confidential memorandum to members canvassing support.
Tsao takes the chair at Intercargo FREDERICK Chavalit Tsao, pictured, has taken over as chairman of Intercargo, the trade association for bulk carrier owners, writes David Osler.
Asian stocks surge after New York record SHARES across Asia showed strong gains yesterday, led by Jakarta which shot up more than 7%, inspired by Wall Street's record highs.
Confusion over China's smuggling crackdown CHINA has sent mixed signals to the shipping world over what it claims is a crackdown on smuggling.
Mediterranean cruising boom set to gather pace THE Mediterranean cruise market is set for further strong growth over the next seven years, according to Ocean Shipping Consultants.
Bookings up on last year for Princess Cruises arm P&O subsidiary Princess Cruises is offering 23% more capacity in 1999, with firm bookings ahead of this time last year.
Japan wipes out Korean tanker lead SOUTH Korea's status as the dominant force in the construction of crude oil tankers has been steadily erroded to the extent that it and rival Japan are now virtually neck-and-neck.
Workers to get stake in Philippines port firms THE Philippines is jump-starting its faltering ports modernisation programme by allowing dock workers to become joint shareholders in consortia which will manage and develop the country's major domestic ports.
Princess reports strong 1999 bookings PRINCESS Cruises has reported strong bookings for 1999, coming after what was described as 'a particularly good' 1998.
Canadian cruise groups appoint managers CANADIAN cruise shipping organisations have appointed John Hansen and Carrie Ramsey as new managers.
Brazil port auction next month BRAZILIAN authorities have announced that the auction for the port of S'o Francisco do Sul, in the south of the country, will be held on February 4.
Monarch in dock till mid-March REPAIRS to the damaged Monarch of the Seas, will put the cruiseship out of action until at least March 14 this year.
South Koreans protest against rate rises SOUTH Korean shippers have protested strongly against container rate rises on routes to Europe imposed by lines on January 1.
Flumar eyes Brazilian newbuildings FLUMAR Navegação, a Brazilian gas and chemical ship operator, will order newbuildings from Brazilian yards when they can offer credible terms.
Costa Crociere name 'to be dropped' CARNIVAL Corp is thinking about dropping the Costa Crociere brand name.
Filipino seafarers continue to lose out FILIPINO seafarers are continuing to lose jobs to other crew supplying countries, according to Manila-based crewing agencies.
HK to invest $30bn on infrastructure HONG KONG'S financial secretary Donald Tsang yesterday announced that the territory would spend $30bn on infrastructure development over the next five years.
Austria Express rail service launched GERMANY'S Transfracht International is starting a new container rail service between Rotterdam and several destinations in Austria this month.
Enbridge takes Venezuelan terminal stake ENBRIDGE, a Canadian energy transport and distribution company, has bought a stake in the Jose Crude Oil Storage and Ship Loading Terminal in Venezuela.
Indian ports face indefinite strike THE five major federations representing port and dock workers in India's eleven major ports have threatened to go on a "nationwide indefinite" strike.
Court rules against Fred Olsen NORWEGIAN shipowner Fred Olsen and his two daughters have lost a court case over taxation of profits at companies owned by the family's trust.
Australian port productivity improves AUSTRALIAN ports have significantly improved productivity according to new quarterly data released by the official Bureau of Transport Economics.
Green light near for NY dredging project THE final decision to deepen the Port of New York and New Jersey's Kill Van Kull and Newark Bay channels to 45 ft will be made this month, according to port officials.
Tropicana retourne à Zeebrugge Le producteur américain de jus de fruits Tropicana a, d'après nos informations, décidé de ramener son centre de distribution européen de Gand à Zeebrugge. Le groupe y utilisera les services et les installations du Flanders Cold Center, une filiale du groupe Sea-Invest. Ce dernier prendrait en charge l'exploitation des entrepôts frigorifiques que Tropicana avait achetés à Gand, et intégrerait ainsi ce troisième port flamand à son réseau pour le traitement de produits sous température contrôlée.
UIRR: "Le transport combiné se dirige tout droit vers une situation de crise" Les 17 sociétes de l'Union Internationale des sociétés de transport combiné Rail-Route (UIRR) ont enregistré une légère augmentation de trafic par rapport à l'année précédente. Elle est toutefois uniquement due à la croissance du trafic des autoroutes rolantes. Le transport non accompagné a enregisté des résultats médiocres. Le manque de qualité ferroviaire et les augmentations des tarifs des chemins de fer ont provoqué un retour vers la route , dit l'UIRR.
FS Mackenzie se profile comme expéditeur et NVO Une nouvelle entreprise de transport est née au Royaume-Uni, à savoir la firme F.S. Mackenzie Ltd (avec siège à Basildon), mise sur pied par des anciens membres du staff de Roehlig & Co. La nouvelle entreprise assure de multiples services couvrant des activités de NVOCC, d'expédition de semi-remorques outre-Manche et d'expédition en général, mettant plus particulièrement l'accent sur une clientèle axée sur des trafics entre le UK et la Russie, les Etats baltes, l'Europe de l'Est, le Moyen-Orient, le Far East, l'Asie du Sud-Est et l'Australie/Nouvelle-Zélande.
World Ship Orderbook Recovery Continues The total world ship orderbook has continued to recover from the drop seen at the end of the March 1998 quarter. In figures recently published by Lloyd's Register (LR) in its quarterly World Shipbuilding Statistics, the total world orderbook grew by 2.1 million gross tonnage (mgt) in the quarter to end-September 1998. It now stands at 57.7 mgt -- a rise of nearly 4 percent against the previous quarter. The orderbook now stands 1.1 mgt higher than at the end of the December 1997 quarter, and shows a 7.2 mgt increase over the same quarter last year. New orders reported in the quarter totaled almost 8.5 mgt, returning to similar levels to those reported in March, June and September 1997, but still well down on December 1997's impressive 11.5 mgt of new orders. This quarter's 8.3 mgt of new orders are well above the 5.8 mgt reported in March 1998 and the 6.5 mgt reported in June 1998. Completions in the quarter remained relatively constant at around 6 mgt. This average has been maintained throughout 1996, 1997 and 1998 to date; although an increase to 6.9 mgt was recorded in March 1998, this fell back to 5.7 mgt in both June and September 1998. Japan and South Korea continue to dominate the market. Japan has pulled slightly ahead of South Korea with her orderbook now standing at 20.1 mgt, representing almost 35 percent of the total world orderbook. South Korea's total orderbook stands at 18.9 mgt, representing 33 percent of the total world orderbook. Japan's lead over South Korea was helped by securing 10 new orders for crude oil tankers totaling 1.1 mgt, compared with South Korea's 0.9 mgt of new orders for the same shiptype. Although South Korea remains the world's largest builder of vessels of this shiptype, her lead over Japan has been steadily eroded: at the end of the March 1998 quarter, South Korea was contracted to build 54 percent of all crude oil tankers on the world order book, with Japanese builders contracted to build 37 percent. By the end of the September 1998 quarter, South Korea's share had fallen to 47 per cent and Japan's share had risen to 46 per cent. The delivery schedule of the current world ship orderbook shows that some 17 percent is expected to be completed by the end of the year, with a further 50 percent expected to be completed by the end of the century. Around 38 percent of the 28.9 mgt of ships scheduled for completed in 1999 are either crude oil tankers or oil products tankers. Offshore supply and other offshore vessels also have shown significant increases in activity since the end of the September 1997 quarter, with an increase of around 45 percent in orders in offshore supply ships. In the category other offshore, which includes floating production, storage and offloading vessels (FPSOs), there has been an increase of over 66 percent, with the total orderbook for this shiptype now at 951,988 gt.
Halter Marine Group Wins $53.6 Million U.S. Navy Contract Halter Marine Inc. won a $53.6 million contract from the U. S. Navy to build a T-AGS 60 class oceanographic research ship. The vessel will be the sixth of its class, all designed, built or under construction at Halter. The contract also includes spare parts and technical services. Construction will begin in approximately 60 days at Halter's Moss Point, Miss. shipyard and delivery is planned for Dec. 2001.
Bank arrests Lygmar ships Two bulk carriers in the fleet of New Jersey-based Lygmar Shipping have been arrested in the UK by the Royal Bank of Scotland as further evidence emerges that banks are getting tough with struggling shipowners.
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