Banks pay $5m bill to rescue stranded Lygnos seafarers BANKS hit by the implosion of the Lygnos family shipping empire are footing an estimated $5m bill to pay off and repatriate seafarers stranded by the collapse, despite claims by at least one crew that it is being denied pay and basic necessities.
Setback to Ocean Marine handover Ocean Marine Mutual has suffered a serious setback in the handover of its portfolio to the Liverpool & London P&I club, writes Janet Porter.
Odfjell expects 1999 break-even ODFJELL of Norway, the world's second largest chemical tanker operator, has warned of a break-even result in 1999 after seeing weak freight rates and a demand-side slump knock 48% off annual pre-tax profit.
Meyer Werft bullish on sea access plan UP to 2,000 workers of German shipbuilder Meyer Werft in Papenburg will be addressed today by the state prime minister of Lower Saxony, Gerhard Glogowski.
ITF to step up pressure for Leros Strength compensation THE International Transport Workers' Federation yesterday marked the second anniversary of the Leros Strength tragedy by vowing to redouble efforts to win compensation for 12 of the victims' families.
US alters rules to remove ships from blacklist THE US Office of Foreign Assets Control has implemented new administrative procedures to be followed by shipowners who wish to seek removal of their tonnage from the agency's blacklist of 'blocked vessels'.
OECD yards meeting postponed THE next meeting of the OECD working party on shipbuilding has been delayed for two months as the industry enters a critical phase for its development.
Grimaldi chief urges EU action on port fees Port fees and handling costs could be reduced by more than 60% in many European ports, creating the conditions to increase shortsea intra-european trades, according to Italian shipowner Emanuele Grimaldi, managing director of ro-ro specialist Grimaldi Group Naples.
Keppel Marine plunges into red KEPPEL Marine Industries has announced a pre-tax loss of S$12.9m ($7.6m) for 1998 following a collapse in operating profit during the year.
Japan/Korea discuss free trade bloc JAPAN and South Korea are discussing the establishment of a joint free trade agreement that could form the core of a wider regional trading bloc, according to local reports.
P&O Nedlloyd to buy Tasman Express P&O Nedlloyd is to acquire the shipping business of Tasman Express Line in a move that would give the Anglo-Dutch operator a 40 per cent share of the trade.
UK calls for bunker liability regime UK Dept of Transport shipping policy head John Wren today called for "a radical solution to fill the gap in bunker liability."
Contship denies Medcenter rumour CONTSHIP Europe has denied rumours of plans to sell the majority stake in Medcenter Container Terminal (MCT) at Gioia Tauro.
Fast ferry service for Sydney SPRAWLING residential development around Sydney has spawned a new ferry service linking the city with northern, dormitory settlements on the New South Wales central coast.
Mystery surrounds deaths of repair workers AN investigation by Barcelona health services into the mysterious death of two workers carrying out repairs on a Tunisian vessel has yet to determine an exact cause.
RSPCA urges Canberra to act on cattle deaths THE RSPCA has called on Australian's prime minister to take full responsibility for the deaths of more than 800 cattle while en route to Indonesia last month.
Three ships in Valletta accident MALTESE-registered general cargo ship Zamosckvorechye is in Valletta Grand Harbour for repairs after an accident involving two other vessels.
Milford Haven fine is 'short sharp shock' THE '4m ($6.5m) fine imposed on Milford Haven Port Authority has been a "short sharp shock for port authorities throughout the UK," according to a P&I legal adviser.
Unioil award $10m Philippine contract UNIOIL Corp has awarded the construction contract of the oil firm's 524 m-long bridge for its docking and storage facilities in Mariveles, Bataan to a UK-based company.
Lack of horsepower claim for grounding TWO US pilots are claiming that a "lack of horsepower" might have been the cause of the grounding of the wood chip carrier New Carissa on February 4.
Singapore bullish over chemicals growth SINGAPORE trade chiefs are confident that the local chemical industry is set to enjoy a strong year despite scepticism from shipbrokers.
Canada detains more ships TRANSPORT Canada, the Ottawa body responsible for reporting Port State Control detentions, has revealed that more vessels were detained in 1998.
Lorenzo staff lock horns with management MORE than 200 seafarers employed by the Filipino operator Lorenzo Shipping Corp have locked horns with management over their collective bargaining agreement.
Odfjell issues profits warning ODFJELL, the Norwegian chemical carrier group previously known as Storli, has warned of a weak 1999 result after its 1998 pre-tax profit fell sharply.
Paradip wins extra funding from ADB ASIAN Development Bank (ADB) has agreed to provide more funds to the Indian east coast port of Paradip where mechanised coal handling berths are under construction.
VRTA worries over dock bypass The Victorian Road Transport Association has raised concerns about the $52 million north-south bypass proposed for the Docklands precinct in Melbourne, saying the road works could cause massive disruption to freight traffic movements in the nearby port and rail areas. The VRTA, which will meet with Victorian Roads and Ports Minister Geoff Craige next week to discuss the plan, has urged the government to undertake adequate planning of the project to ensure minimal disruption to traffic during the road's construction. VRTA executive director Phil Lovel said the VRTA would lobby the government to ensure that the existing road infrastructure in the proposed development area -- particularly Footscray Road -- remained fully open until the bypass was completed and fully functional.
Govt rejects fund shortfall claims Media speculation that the $250 million allocated by the federal government to cover the cost of waterside worker redundancies could fall short of the total amount claimed by Australia's stevedoring companies, was rejected yesterday by a spokesman for Transport Minister John Anderson. According to a wire service report, statements made by the first assistant secretary of the Department of Transport, Greg Feeney, to an estimates committee hearing here on Monday indicated that the redundancy fund had been "rushed by applications from 12 companies" and this threatened to "overload" the fund following a $102 million payout to Patrick Stevedores.
P&OP focuses on attitude P&O Ports Ltd will expand at the rate of two new sites a year over the next five years and is now poised to enter the North American market, according to its director for Australia and New Zealand Andrew Burgess. Mr Burgess spoke yesterday at the Ports, Shipping and Waterfront Reform conference, organised by AIC in Sydney. While concentrating on the company's international achievements, Mr Burgess made frequent, negative, comments about the productivity of the Australian waterfront and, in particular, the absence of the proper attitude among the workforce.
Rail will be the key to future port development Waterfront reform will still be needed long beyond the time when terminal productivity issues have been resolved, according to Maunsell McIntyre's director of port and transport planning Graham Hooper. Speaking at the Beyond the Waterfront Reforms conference in Melbourne last week, he said waterfront reform in Australia had become synonymous with stevedoring productivity which focussed on container terminal productivity with performance expressed in terms of crane rates.
Inchcape sold to private investors Electra Fleming, the international private equity group, has acquired Inchcape Shipping Services (ISS). ISS, which claims to be the largest independent shipping agency network, last year itself acquired Australia's Patrick Sleigh Shipping Agencies. ISS provides ship support services for over 30,000 vessels and handles in excess of one and a half million containers each year.
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