Anangel-American $48m rights issue BULK shipping company Anangel-American Shipholdings is to raise some $48m through a rights issue, to finance expansion.
MAIB raps P&O after lifeboat incidents P&O cruiseships and passenger ferries have suffered a series of lifeboat accidents due to wrong maintenance procedures, according to the Marine Accident Investigation Branch, writes David Osler.
Gard mulls management plan NORWEGIAN P&I club Gard has agreed to enter exclusive negotiations with the new Scandinavian property and casualty insurance group if... over creation of a new jointly owned company to manage the two groups' marine and energy division.
Oil majors surge on Opec price hike FOUR of the world's biggest energy companies reported strong third-quarter results, the result of Opec-inspired higher oil prices.
Ports in self-diagnosis project A SYSTEM of 'self-diagnosis' with which ports can calculate their environment-friendliness has been developed by a group of European ports.
Denmark to open DIS to ferry firms THE Danish government is preparing to allow domestic ferry operators that sail to neighbouring countries to join the Danish International Shipregister.
Concordia may sell ships for FPSO role SWEDISH tanker specialist Concordia Maritime is negotiating the sale of one or more of its VLCCs to oil companies for use in floating, production storage and offloading projects.
Axa considers its options for 2000 FRANCE'S Axa group is considering combining Axa Re and Axa Global Risks companies in a bid to create a more customer-centred organisation and combat competitive market conditions, writes Andrea Felsted.
Drew Miller and Michael Sussman are two brash gunslingers coaxing a shootout with the American Short Line and Regional Railroad Association. The ASLRRA, they say, is ineffective at meeting the needs of shortlines, is too chummy with major railroads and failed to educate Congress about "the value and potential of the U.S. freight railroad system." So Miller and Sussman are asking ASLRRA members to defect and follow their leadership.
From a shipper viewpoint, the fundamental changes in railroad regulation recommended by the Clinton administration in its Surface Transportation Board Reauthorization Act are a mixed bag. Although the administration's bill would cancel the STB's annual revenue adequacy determination and mandate reciprocal switching, other provisions could harm shippers. While there is much for rail labor unions to like about the bill, it offers nothing pleasant for railroads. It also contains a provision upsetting to motor carriers.
FDX finally made it official. The Caliber Logistics name is gone, along with a lot of executives. There has been a mad rush for the door since FDX acquired the Hudson, Ohio-based logistics provider in January 1998. FDX, in conjunction with the name change, says it has a plan to make FDX Supply Chain Services a real player in the global marketplace. Industry watchers don't doubt the intentions, but wonder about the execution.
New England Motor Freight, the fastest-growing carrier in the Northeast, is instituting a service partnership with Seattle-based Oak Harbor Freight Lines in a move that will enable NEMF to reach 95 percent of the U.S. population with faster transit times. The NEMF-Oak Harbor partnership is the latest in a series of linkups among leading regional carriers that are being asked by shippers to expand their traditional geographic reach by offering more longer-haul services.
The United States and Brazil, signaling the two countries are ready to bury past disputes, signed a bilateral shipping agreement on Oct. 20. The new maritime accord's framework is designed to give each country "equal access" to one another's ports, even though neither country has many ships left in the trade lane. How the pact will be enforced and who will be the real beneficiaries remains to be seen, but officials are heralding the accord as a great step toward improving the trade lane.
Shippers are hoping that RailAmerica Inc. increases—rather than loses—customer focus after it absorbs RailTex Inc. The $325 million deal announced Oct. 14 will create the world's largest shortline operating company. But even though the acquisition combines stand-alone shortline properties, customers —perhaps battle-scarred from the effects of Class 1 mergers in recent years—are wary anyway. Company officials attempted to allay concerns of service declines brought about by the acquisition.
United Parcel Service is heading to its Wall Street debut early next month with a very strong third quarter under its belt. UPS's growth rate in all sectors far outpaced that of competitor FDX Corp., which blamed high fuel costs and a lagging inventory-to-sales ratio for its depressed earnings. UPS, meanwhile, is gearing up for what is looking like the largest IPO in history. After a 2-for-1 stock split, shares are expected to fetch between $36 and $42 each when the opening bell rings.
Logisticians got an ear full last week on what not to do with software, specifically decision support systems. While DSS software is a helpful tool, it is not and shouldn't be used as a problem-solver, warned a speaker from Sears, Roebuck and Co. There are too many variables to be considered and a software program could fall into the trap of basing assumptions on the answer most likely to fit most problems rather than a specific solution designed to remedy a specific problem. DSS software tends to be one-size-fits-all without allowing much manual interplay, sometimes creating very complex models for problems that aren't that complex.
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
phone: +39.010.2462122, fax: +39.010.2516768, e-mail
VAT number: 03532950106
Press Reg.: nr 33/96 Genoa Court
Editor in chief: Bruno Bellio No part may be reproduced without the express permission of the publisher
- Via Raffaele Paolucci 17r/19r - 16129 Genoa - ITALY
