Liberian ship register faces blow to image BITTER feuding over the operation of Liberia's ship register - one of the world's largest - has reached new heights and now threatens to cause permanent damage to the flag's image.
Enterprise and Lasmo 'in talks' Britain's two largest independent oil companies Enterprise Oil and Lasmo are believed to have started negotiations about a possible merger worth '2.7bn($4.54bn), five years after a bitter takeover bid by the larger Enterprise company was beaten off by its long time rival.
Shipping now holds top spot in bond issues Shipping companies have overtaken airlines as the largest issuer of bonds in the transport industries, according to credit rating agency Standard & Poor's (S&P).
FFAs: buy 'cheap' but sell 'expensive' Forward Freight Agreements (FFAs) have rapidly become an accepted part of the dry cargo shipping business, but there remain many common questions asked over what they are and how they should be used. In addition, how do clients reach a decision as to what course of action to follow up? And what should the timing be?
Firms pay up over US Shipping Act claims THREE shipping firms, five non-vessel operating common carriers (NVOCC), and a freight forwarder have paid $850,000 in civil penalties in 'compromise agreements' for alleged violations of the US Shipping Act of 1984.
Chile insurers shun London in Pinochet detention backlash Chilean insurance companies and brokers are attempting to avoid the London market in protest at the continuing detention of General Augusto Pinochet, sources have claimed.
OTIM gives P&I club a wide berth OCEAN Transport Insurance Mutual (Otim), the mutual insurer to the wider transport industry, has sought to distance itself from troubled independent P&I club Ocean Marine Mutual.
Apt reflections from the dry dock of life LAID up in hospital last month, with not much else to do than letting my thoughts wander freely, it occurred to me that my situation was not dissimilar to that of a ship sent into dry dock for essential repairs.
Non-union agreement struck for towage industry The first non-union enterprise agreement in the Australian towage industry has been certified by the Australian Industrial Relations Commission. This agreement, which covers tug crews at the Dalrymple Bay Coal Terminal, follows a call for expressions of interest in the operation or the operation and maintenance of two 4200 hp omni-directional tugs and one 15.4-metre line launch. This followed the expiry of the four original user agreements for the Dalrymple Bay Coal Terminal, including the towage/line handling contract, on 31 December. The successful tender for the towage/line handling contract was Daltug Pty Ltd. Its enterprise agreement with 13 individuals will run until 24 December, 2001.
Illegal oil dumping threatens penguins Hundreds of penguins are being contaminated at sea by oil, according to a new CSIRO study. CSIRO hydrocarbon specialists say that residues and oily sludge from ship's bunker tanks are the cause of injury and death for up to 350 penguins at Phillip Island in Victoria each year. Dr Andy Revill, of CSIRO Marine Research says that there are commercial facilities which receive bunker oil and sludge, but there is no economic incentive to use them. He said: "Illegal dumping is simply a cheaper option. "Ships are only permitted to discharge oily waste at a rate of 15 parts of oil in a million parts of water. This can be achieved by using special separating equipment. "But some ships are ignoring the permitted discharge rates and are illegally discharging oily waste and slops knowing they have only a slight chance of detection." Gladstone hits 40 million tonne mark for '98.
Gladstone hits 40 million tonne mark for 1998 The port of Gladstone has achieved a significant milestone in 1998, becoming a 40-million tonne port for the first time. A total of 41.2 million tonnes was handled during 1998, an increase of 1.5 million tonnes or 3.8 per cent over the total cargo for 1997 of 39.7 million tonnes. "This is quite a significant achievement considering that only 14 years ago Gladstone's throughput was 20 million tonnes," the chairman of the Gladstone Port Authority, Leo Zussino, said.
No handouts for rail projects in first round Major transport-related projects including Adelaide Airport's upgrade and Melbourne's CityLink tollway will receive benefits from tax breaks announced by the federal government last week, but rail projects have been snubbed in the first round of handouts from the new scheme. Acting Prime Minister Tim Fischer last week announced the federal government would provide $71 million of tax breaks over five years to build four major national infrastructure projects worth over $900 million. The four projects are the first to have qualified for assistance under the government's Infrastructure Borrowings Tax Offset Scheme announced before the October 1998 election.
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