Daewoo to sell its shipbuilding division Daewoo group chairman Kim Woo-choong has announced that the shipbuilding division of Daewoo Heavy Industries (DHI) is one of eleven major subsidiaries and business units which will be sold off in a bid to improve the overall financial standing of Korea's second largest chaebol.
Daewoo forced to sell its shipyards South Korea's Daewoo Group has revealed plans to sell its shipbuilding unit for Won5trn ($4.1bn), in a bid to reduce its debilitating debt burden.
Sea-Land axes Europe-Latin America link Sea-Land has axed its direct service between Europe and the east coast of South America as part of a network review.
Golden Ocean credit rating cut Golden Ocean Group's credit rating has been downgraded due to uncertainty regarding finance and employment for its huge VLCC newbuilding programme.
Income boost for Bureau Veritas French classification society, Bureau Veritas, increased net consolidated income 14% to FFr255m ($37m) last year, helped by a 12.4% increase in marine revenues, writes our Paris Correspondent.
New Fincantieri head could prepare yard for privatisation AFTER a decade of increasing prowess of cruiseship building, 1998 should have been one of the greatest for Italian state-owned shipbuilder Fincantieri.
Festival makes Italy itinerary changes Festival Cruises has become the first European-owned cruise company to remould summer itineraries as a reaction to the conflict in Yugoslavia. Two vessels are affected by the changes, the 800-berth Azur and the company's 1,200-berth newbuilding, Mistral, due for delivery from Chantiers de l'Atlantique in mid-June.
Coast Guard targets safety and security MARINE safety, security and environmental protection are key targets of a newly-established, high-level task force formed to provide sweeping recommendations which could substantially alter the US Coast Guard's "appropriate roles and missions" over the next 20 years.
Sea-Land se retire du trafic Europe-côte est de l'Amérique du Sud L'armement américain Sea-Land se retire du trafic entre l'Europe du Nord et la côte est de l'Amérique du Sud. Après la desserte Europe du Nord/Montréal, c'est le deuxième service que l'armement abandonne. Dans le premier cas, il s'agissait d'une conséquence de la dérégulation aux Etats-Unis qui incite l'armement à plutôt se rabattre sur des ports US de la côte est. Dans le second cas, il s'agit d'une conclusion: le marché de générant pas un revenu suffisant du capital, mieux vaut arrêter les frais. Et c'est la seconde fois que Sea-Land abandonne son partenaire Mærsk Line.
CMA lance un service pendulaire Europe-Asie-USA côte ouest L'armement CMA qui a décidé de faire son intrusion sur le Pacifique, le fait d'une manière assez prudente. La nouvelle ligne hebdomadaire, qui opèrera entre l'Asie et la côte ouest des USA n'est en fait que le prolongement du troisième service créé récemment, "NCJ", et qui portera désormais le nom de NCJ-TPX (North China Japan-Transpacific Express). En d'autres mots, CMA lance un service pendulaire Europe du Nord-Méditerranée-Asie-USA côte ouest et retour. Le 25 mai prochain aura lieu la première escale à Long Beach avec le PC "CMA Mersin".
J.P. Ackermans (VGL): "Une segmentation plus rigoureuse des marchés s'impose" La société de messagerie et de groupage Van Gend & Loos, qui a récemment été reprise par la Deutsche Post dans le cadre du rachat de Nedlloyd, a mis au point un système de tracking & tracing que les clients peuvent consulter par Internet. La particularité de ce système est qu'il peut suivre tant un seul colis qu'un envoi composé de plusieurs colis. "Cela paraît anodin, mais il s'agit d'un véritable tour de force", nous a déclaré Jean-Paul Ackermans, marketing manager de la société en Belgique. Notre interview sur ce système a débouché sur toute une réflexion sur la segmentation des produits en transport routier.
La flotte fluviale belge s'enrichit de deux nouvelles unités pour la Moselle C'est en présence d'une assistance nombreuse que les deux dernières acquisitions de la flotte fluviale belge, les "Erpasyma" et "Isabelle" de 2.400 tonnes, ont été baptisées samedi dernier au chantier Fulton à Hemiksen, le long de l'Escaut. Les bateaux sont destinés à des entrepreneurs fluviaux privés, qui les exploiteront sur la Moselle.
Daewoo To Sell Shipbuilding Unit Daewoo Group will reportedly sell its prized shipbuilding unit, two Hilton hotels and several commercial vehicle units in an effort to raise $7.6 billion.
Carnival: Kosovo Fighting Hurts Bookings The conflict in Kosovo is reportedly hurting Carnival Corp.'s summer bookings in the eastern Mediterranean and will likely produce a small, one-time drag on earnings.
NATO Studies Stopping Yugoslavia-Bound Oil Tankers NATO is reportedly examining whether to use force to stop oil tankers from delivering shipments to Yugoslavia while President Bill Clinton prepared to ask the U.S. Congress for $6 billion to pay for more air strikes and humanitarian aid.
KepFELS Sees SPC A Value Buy Following a 24.5-percent stake purchase in Singapore Petroleum Co. (SPC), Keppel FELS (KepFELS) reportedly sees the company as a bargain investment which complements its push into the energy market, providing steady future earnings.
China To Build $3B Sea-Land Rail Link China will reportedly invest more than $3 billion to build a 2,200-km sea-land railway linking its eastern and northeastern provinces.
Horizon Offshore Buys Pipelaying Barge Horizon Offshore Inc. reportedly purchased the pipelay/bury barge, T.O.300, from Terry Offshore.
Gulf of Mexico Drilling Raises BHP Hopes Successful ultra-deep water drilling in the Gulf of Mexico reportedly raised hopes for The Broken Hill Pty Co. Ltd. to further explore results from the region.
Chevron Ends ARCO Venture Talks Chevron Corp. is reportedly discontinuing discussions with Atlantic Richfield Co. aimed at combining the two companies' production and exploration operations in west Texas and New Mexico.
Big Oil Earnings Expected To Out In First Quarter First-quarter earnings reported by major U.S. integrated oil companies over the next two weeks are reportedly expected to be 50 percent below year-earlier levels, reflecting difficult conditions in all of their main businesses.
The flow of military and relief supplies to the Balkans from the United States and its NATO allies seems almost effortless. The U.S. Transportation Command has hardly flexed its transport muscles. But for international relief agencies building supply networks in Albania, Macedonia and Montenegro, the story is very different. Barely a month into the war, logistics planners have learned it is easier to get a missile to strike a target in downtown Belgrade than to put a high-protein biscuit and jug of clean water into the hands of a hungry refugee.
In the wake of disappointing earnings at key divisions and poorly performing shares, a shakeup in top management at Ryder System appears to be in the works. Although the company has made no formal announcements, it is almost certain that M. Anthony Burns, Ryder's chairman, president and chief executive officer, will drop the title of president and install a new president and chief operating officer. Burns likely will retain the titles of chairman and CEO but the heads of each of Ryder's three divisions most likely will report directly to the new COO and president. The changes come close on the heels of an announcement by Ryder that first-quarter earnings would fall far short of Wall Street's expectations.
United Parcel Service and Federal Express, two companies with $40 billion in sales, are hot on their heels. Truckload giants such as Schneider National are pecking away at their customer base. The oft-beleagured LTL industry can be excused if it thinks of itself as the Rodney Dangerfield of transportation. "What happened after deregulation in the LTL industry was that things happened. They just happened, without much of a plan," said Leo H. Suggs, who's leading the revival at Overnite Transportation.
For Sal Valazquez, ocean shipping deregulation is a jigsaw puzzle of pros and cons that reveals little about the future shape of the liner industry. His transportation needs also could be likened to a giant jigsaw puzzle. As international import manager of Paterson, N.J.-based Lipo Chemicals, he is responsible for shipping some 400 products around the world in relatively small quantities. Some have low margins that make them extremely sensitive to freight-rate fluctuations.
General Motors is reviewing proposals from the Class I railroads to build a system of distribution centers, the ultimate goal being to expedite inventory to its dealerships. The project is reminiscent of the Norfolk Southern/Ford mixing center system, but with a key difference: cars entering the NS centers have been sold and their destinations determined; GM's plan calls for the construction of what amounts to expensive parking lots on which to store inventory not yet sold. Reliable sources say the project is meeting resistance from the railroads and within GM itself.
Despite a nonexistent advertising campaign, Airborne Express came out on top in a recent study tracking brand loyalty in the express industry. In a study conducted by Brand Keys Inc., Airborne Express customers are less likely to be wooed away to competitors than customers of other companies. FedEx finished second in the rankings, followed by the U.S. Postal Service, UPS and DHL.
FDX Corp., a supply-chain consulting and software development company? The answer is yes, according to top FDX officials. The phrases "supply chain" and "electronic commerce" were frequently bandied about during a day-long conference with reporters that showcased FDX's technology developments and future plans for the company. FDX is not the only company around trying to broaden its scope, however. United Parcel Service designed its electronic commerce strategy four years ago, according to Ross McCullough, senior director, electronic commerce, corporate marketing. Whether these moves by FDX and UPS will affect supply-chain consulting companies and software development companies remains unclear.
Brazilians have a one-track—or, shall we say, a one-road—mind. They just love to put their freight on roads. That leads to clogged highways, but it also means there is plenty of opportunity to develop the first truly intermodal transport system in the country. Now is the time for Brazilian transportation companies to get their modes in order. The country expects its exports to increase, thanks to its cheaper goods as a result of the Brazialian real devaluation, and it will need a better-oiled transportation chain to move the goods
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