P&O to sell property businesses for '2bn P&O yesterday unveiled a dramatic restructuring which will see the group consolidate around maritime activities and sell its property businesses for around '2bn ($3.22bn).
Carriers told to end price fixing Ocean carriers must abandon collective price fixing and antitrust immunity if they are to regain the trust of their customers, a prominent Swedish shipper warned yesterday in London.
International Group clampdown The International Group of P&I Clubs is extending the assurances which a club leaving the group must provide to cover its share of future liabilities under the arrangements whereby members of the International Group share third-party liability claims.
Buenos Aires lines up cruises for ecotourists NEW cruises among the whales and glaciers off Argentina's coast are expected to be announced this year as part of advanced plans by international cruise lines and the port authority of Buenos Aires.
A long legacy THE Exxon Valdez grounded because of a navigational error, the secretary-general of the International Maritime Organisation reminded us some years ago, going on to point out that almost all of the legislative changes this accident had produced were related to everything other than navigation.
How many more spills are waiting to happen? IT was an accident waiting to happen, and many more such lie ahead. That has always been the environmentalists' verdict on the Exxon Valdez disaster. On the 10th anniversary, they are restating it with fervour.
Buenos Aires fees blow for carriers SHIPPING lines in Buenos Aires have lost their bid to continue collecting terminal handling charges directly from shippers.
Last chance summit for duty-frees The fate of the European duty-free industry hangs in the balance this morning as European Union heads of state start a two-day summit meeting in Berlin, writes David Mott.
CSX confirme la scission de Sea-Land La direction du groupe CSX a confirmé que sa filiale Sea-Land serait scindée en trois divisions distinctes dès la mi-99. Trois compagnies seront créées, dotées chacune d'une situation financière propre. Ces entités, qui seront autant de centres de profit, se présenteront comme suit: une société d'armement assurant les services containérisés internationaux, une société pour l'exploitation des terminaux et une société pour les trafics domestiques. Ces trois sociétés auront leur quartier général à Charlotte, en Caroline du Nord.
La branche Overseas de Géodis s'oriente vers la logistique Selon Alain Poinssot, président du Groupe français Géodis, un grand prestataire en commission de transport (expéditeur) doit prendre aujourd'hui "le virage logistique" afin de répondre aux attentes des clients. Un défi que la Branche Overseas du Groupe devra relever en 1999. Des désinvestissements sont à l'ordre du jour pour les métiers exercés dans les ports. Parallèlement, il pourrait y avoir des acquisitions en logistique et en messagerie.
Procter & Gamble construit un EDC à Malines Le producteur américain Procter & Gamble a décidé de concentrer la distribution nord-européenne de ses produits à Malines. Dans ce contexte P&G construit, à côté de ses usines existantes, un centre de distribution d'où les produits locaux et nord-européens seront redistribués vers différentes destinations au monde. Pour le marché sud-européen, la distribution a été concentrée en Espagne. Le Royaume-Uni dispose à son tour de son propre centre de distribution.
La coopération Katoen Natie/ Targor pourrait s'étendre à l'Espagne et l'Arabie saoudite Le groupe anversois Katoen Natie (KTN) se lance dans le secteur de la construction d'usines. Il s'agit d'une première dans l'histoire du groupe. Comme nous l'annoncions dans notre dernière édition, l'entreprise anversoise va en effet construire une usine compound à Wilton, une commune située au sud-est de Middlesbrough, pour compte du producteur de polypropylène Targor. La coopération pourrait être étendue à d'autres pays à l'avenir.
Tax Move Will Bring 50 P&O Ships To U.K. Flag P&O will reportedly bring back 50 ships to the U.K. flag if the government introduced a tonnage tax aimed at stabilizing longer term arrangements for shipping companies.
P&O Shares Surge On Grand Disposal Plan Shares in Peninsular & Oriental Steam Navigation Co. reportedly surged eight percent after the group announced plans to quit property, construction and exhibitions to concentrate on its seaborne heritage.
Shanghai-Taiwan Container Service Inaugurated China Ocean Shipping Agency Shanghai and Taiwan's Nan Tai Enterprises have reportedly inaugurated a container shipping service between Shanghai and Taiwan via Hong Kong.
France, Italy, Britain Try To Salvage Frigate Plan French, British and Italian defense ministers met at a military base near Paris to try to salvage the multi-billion-dollar Horizon frigate project, threatened by a dispute over how to share out the work.
Tanker Worries Persist On Alaska Spill Anniversary Alaska marks the 10th anniversary of the Exxon Valdez spill this week with the danger of a repeat oil disaster greatly reduced, but some environmentalists believe the risk is still too high.
Endurance The Test Of OPEC's Winning Formula OPEC's bold new output deal sets it firmly on course for an oil price recovery but the plan reportedly could quickly unravel if the cartel falls prey to familiar temptations and cheats on supply limits.
ABB, Alstom Grab Global Lead In Power Deal European engineering groups Asea Brown Boveri and Alstom reportedly forged an $11 billion power-generation giant, grabbing the global lead from General Electric Co. of the U.S.
Total In Deepwater Gulf of Mexico Find French oil group Total reportedly made a "first, very promising" discovery on Mississippi Canyon Block 942 in the Gulf of Mexico.
Is The Annual Report Heading For The Bin? After a century and a half of loyal service, the days of the traditional annual company report may be numbered.
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