Surprise shakeup at ABP sparks investor jitters A SURPRISE shakeup at the top of Britain's biggest ports operator Associated British Ports knocked nearly 5% off its share price yesterday as the markets reacted nervously to the timing of the unexpected disclosure just a week before publication of its 1998 annual results.
ITF campaign ship 'denied Panama berth' AN EXHIBITION ship crusading against flags of convenience was allegedly denied a berth by a Hutchison Whampoa subsidiary in Panama last weekend.
Norsk Hydro planning NKr1bn in cost savings Weak commodity prices knocked 46% off the annual operating profit at Norsk Hydro, Norway's leading industrial group.
10% tax relief boost for Indian lines India's Surface Transport Ministry has proposed an additional tax relief of 10% to importers using Indian liner ships.
New approach to box contracts urged CONTAINER shipping lines must find a better way of negotiating contracts with their customers, a freight forwarding industry representative warned last week.
Russian crew stages pay hunger strike The Russian crew of the 1,515 dwt hopper dredger Kamchatskiy, currently under repair in China, staged a one-day fast yesterday over unpaid wages, with the charter party accusing the crew of womanising and drunkenness.
Two-way split for China state yards AFTER a decade of planning, China has finalised a plan to split China State Shipbuilding Corp into two companies, presumably along geographical lines.
More BP Amoco cuts will hit top jobs MORE big job cuts both at top level and among the ranks are looming at newly-merged BP Amoco.
Lerenius appointed to head ABP BO Lerenius, vice chairman of Stena Line and director of new business at Stena AB, is to replace Andrew Smith as group chief executive at Associated British Ports Holdings.
HDW chief dies J'RGEN Gollenbeck, ceo of German shipyard HDW, has died suddenly at his home.
New Carissa fuel burn-off 'a success' US Coast Guard believes its fuel burn-off policy on the New Carissa might be a model for future pollution control involving marine casualties.
Arms smuggling 'at the root of piracy' WEAPONS smuggling is the driving force behind the recent upsurge in violent acts of piracy, according to an article in a UK newspaper.
Australia sanctions livestock exporter AUTHORITIES in Australia have imposed sanctions on a live cattle exporter in response to the deaths of over 400 animals aboard the Middle East-bound Charolais Express last year.
Japan and Brazil face punitive steel tariffs JAPANESE and Brazilian manufacturers of hot-rolled steel have been dumping their product in the US market, according to initial findings by the US Department of Commerce.
Carnival considers floating Cunard CARNIVAL is believed to be under pressure from institutional investors to float its subsidiary Cunard.
Shipbuilders stand behind Pacificat project SHIPYARDS and designers involved in British Columbia's Pacificat fast ferry project have defended the vessel following ministerial threats to stop work on the second and third craft.
Ceylon Shipping seeks 'refugee' ferries CEYLON Shipping Corp has called for tenders to buy two high-speed passenger vessels to transport refugees.
Another collision in the Philippines ANOTHER accident involving domestic ships occurred in the Philippines during the weekend, with the collision of a fast ferry and a conventional vessel at the port of Larena.
South Korea to intensify ship inspections SOUTH Korea's Ministry of Maritime Affairs and Fishery is to increase the number of inspections of foreign-flag vessels by 30 per cent or more.
Indian ports to lose financial powers INDIA'S Ministry of Surface Transport is likely to withdraw some of the financial powers of its major ports.
Mersey Docks hits forecast UK PORT operator Mersey Docks and Harbour Co has reported record pre-tax profits for 1998 of '47.6m ($62m), right in line with stock market forcasts.
B&N Nordsjöfrakt buys ship manager B&N Nordsjöfrakt, the Swedish bulk and roro shipping group, has acquired a 75 per cent stake in the Stockholm-based ship management company Hornet Shipmanagement.
New operator launches Australia-Asia service A NEW shipping line has been set up to win what it calls 'niche markets' in the south-west Pacific-north Asia region.
BLG to operate Lithuanian terminal BLG Container, the container terminal subsidiary of Bremen/Bremerhaven port operating company BLG, has signed an agreement to operate a container terminal in Klaipeda.
Inmarsat seeks director nominations INMARSAT signatories are being invited to submit nominations for directors for the new company following privatisation on April 15.
Thames ports to study channel deepening MEDWAY ports and the port of Thamesport are to jointly commission a study on proposals to deepen the Medway approach channel.
Port bridge planned for Genoa GENOA Industrialist Association' President Riccardo Garrone is leading a consortium of builders which is proposing the construction of a bridge across the port
Japan's cement exports nosedive JAPAN'S cement exports fell 37 per cent last year to 7.6m tons, falling below the 10m ton mark for the first time in seven years, the Japan Cement Association said.
Cobelfret Ferries va lancer de nouveaux services sur Göteborg et le UK C'est au début du mois de novembre prochain que démarrera le trafic propre au groupe forestier suédois Stora entre Göteborg et le nouveau terminal zeebrugeois de Sea-Ro Terminal à la darse des Wielingen. A cette date, l'armement néerlandais Wagenborg aura réceptionné le premier des trois navires rouliers spécialement conçus pour ce trafic, le "Spaarneborg", qui sera pris en charge par l'armement belge Cobelfret Ferries. Ce dernier assurera l'exploitation commerciale de ces unités, qui transporteront tant les cargaisons de produits forestiers du groupe suédois que les autres cargaisons dites commerciales. Wagenborg reste propriétaire des navires et se chargera de l'exploitation technique des trois unités.
Volvo négocierait un rachat de Navistar Volvo Trucks négocierait une acquisition partielle ou totale de Navistar. Des hauts responsables de Volvo ont eu plusieurs rencontres ces dernières semaines avec leurs confrères du constructeur de camions et motoriste américain, qui est basé à Chicago. C'est ce que signale le Financial Times. Une telle transaction serait beaucoup plus logique qu'un rachat de Scania.
Naissance d'un nouveau groupe de remorquage: Keppel Smit Transpacific A l'instar de ce qui se passe dans le secteur des lignes régulières containérisées, le secteur du remorquage évolue lui aussi vers des regroupements et autres reprises. Là aussi, il s'agit d'une question d'assise financière et de dimension. C'est ainsi qu'a été créée la joint-venture "Keppel Smit Transpacific Inc" (KSTI), dont le capital souscrit a été fixé à 10 millions de dollars de Singapour.
La Deutsche Post prend le contrôle de trans-o-flex Deutsche Post Express un Transport GmbH, une filiale du groupe Deutsche Post, va accroître sa participation dans la société allemande de messagerie trans-o-flex Schnell-Lieferdienst AG à Weinheim, devenant majoritaire dans celle-ci.
Unions 'won't accept' BHPT decision Shipping lines cross-trading on the Tasman are bracing themselves for a union response to last week's announcement by BHP Transport that it was pulling out of the waterway, reducing the number of Australian berths by 72 in the process. In one of his first comments on the move, the national secretary of the Maritime Union of Australia, John Coombs, said the union was determined for Australian seafarers to stay in the trade.
Strong half-year for Brisbane The Port of Brisbane Corporation has turned in a strong half-year financial performance backed by record trade levels, particularly from container trade, the port authority's chairman, Elizabeth Nosworthy, has announced. According to the Corporation's financial report for the six-month period to 31 December 1998, a $9.4 million net profit was achieved, representing an almost 70 per cent increase on last year's figures. Earnings before interest and tax were $20.5 million, up 46 per cent over the same period for the previous year and 12 per cent above budget, the report said.
Iberia becomes oneworld's newest member Spain's leading airline is the latest member of oneworld Alliance, it was announced yesterday by the quarterly meeting of the airline chiefs who met for the first time in Sydney. Iberia will start offering oneworld services and benefits later this year after its 25,291 employees have taken part in the oneworld training and communications and after integrating its systems.
Ansett confirms it will join Star in March Ansett Australia confirmed yesterday that the airline, along with its 50 per cent owner Air New Zealand, would gain full membership of the Star Alliance network on 28 March. However, the two carriers have ruled out any cooperation in the cargo area with partner airlines in the short-term. A spokeswoman for Ansett said that while some founding members of Star had cargo sharing arrangements in place, cargo sharing was not part of Ansett's and Air New Zealand's arrangement to join Star next month.
Cruising Craige seek's Melb share Melbourne had a famous visitor at the launch on Thursday of Cruising Victoria, a state government strategy aimed at turning the city into a world class cruise destination. The visiting Cunard flagship Queen Elizabeth 2 was berthed at Station Pier as Minister for Roads and Ports Geoff Craige and Minister for Small Businss and Tourism Louise Asher launched the plan.
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