Lygnos collapse strands hundreds HUNDREDS of officers and ratings have been left stranded across the globe in the wake of the collapse of Greece's Lygnos family shipping interests, with some in urgent need of food.
PanOceanic in $75m bond buyback PanOceanic Bulk Carriers has bought back its $100m of junk bonds at a 25% discount just a year after they were issued.
Amer Reefer bond payment vow Ravi Mehrotra's Amer Reefer has assured bondholders that it will meet its $5m interest payment in March.
Italy feels Turkish trade backlash Figures announced by the Turkish Exporters' Association this week showed the effect of the unofficial boycott of Italian goods by Turkish companies and consumers last month.
US shippers hit at FMC proposals SEVERAL key provisions of the proposed US Federal Maritime Commission (FMC) regulations to implement the US Ocean Shipping Reform Act of 1998 have been attacked by leading US shippers organisation, the National Industrial Transportation League.
Tackling issues of perception and security Sound and visible security is an essential cornerstone in the development of cruising in the Gulf region, the conference was told yesterday. But maritime security expert Brian Parritt said the western perception that the security threat is worse in the Middle East than elsewhere is untrue. Terrorism is a worldwide threat, he said.
French seamen in register warning A French seafarers' union has warned the French government against trying to set up a new international register as a means of getting rid of the existing French national flag.
Ferrari lands order for specialist tug SPECIALIST tug builder Cantiere Navale Ferrari has sealed a contract with Savona-based Societ' Carmelo Noli fu Giovanni to build its first stern azimuthal propelled tug, writes Giovanni Paci, Milan Correspondent.
Milford Haven to appeal against Empress fine MILFORD Haven Port Authority is to seek leave to appeal against the '4m ($6.6m) imposed by Mr Justice Steel in the case resulting from the Sea Empress incident.
Avondale appeals against health order AVONDALE Industries has appealed against an order to hand over 13 types of worker health and safety to the US Occupational Safety and Health Administration.
South Koreans settle ship finance dispute SOUTH Korea's Ministry of Maritime Affairs said yesterday that a dispute between local banks and shipping companies over interest rates had been resolved.
Shippers slam rate rise as 'profiteering' ASIAN shippers' representatives have slammed reports of a planned 60 per cent jump in Asia-Europe container freight rates as "profiteering".
Lloyd's faces damaging fraud action A UK HIGH Court judgement on January 22 has left the Society of Lloyd's facing possibly the most traumatic, and probably most massive, legal action to date.
New Filipino body pushes for reforms MARITIME interests in the Philippines are to set up the Federation of Maritime Associations, an umbrella organisation to push for further reforms.
Brazilian owners issue trade warning BRAZILIAN shipowners must prepare for significant changes to the pattern of trade following the recent devaluation of the real, according to the owners' association.
Industry to be surveyed about Sea Malta SEA Malta, the Maltese national shipping line, and the island's Federation of Industries have announced a joint survey of the federation's 300 members regarding use of the line.
Teekay hit by aframax collapse SIGNIFICANT falls in aframax tanker charter rates in the final three months of 1998 led to a major decline in net income reported by Bahamas-based Teekay Shipping Corp.
Sea-Land switches Swedish ports SEA-LAND is to switch its port of call in Sweden to Gothenburg from Wallhamn after a break of more than a decade.
Royal Caribbean names cruisers ROYAL Caribbean International has announced the names of the second and third 142,000 gt Eagle-class vessels and the two 85,000 gt Vantage-class ships.
Lines unite against SCT SHIPPING lines have united in their criticism of the Shanghai Container Terminals tariff increase, accusing the operator of passing the buck.
Octavian opens Hong Kong office LLOYD'S of London syndicate manager Octavian has set up an office in Hong Kong and will soon start writing business on behalf of Jonathan Jones Syndicate Number 329.
Politicians weak on piracy, claims Fairplay THE combined efforts of the world's political powers against piracy do not come close to that of the International Maritime Bureau, says the lead editorial in this week's issue of Fairplay.
ACT se défait de son terminal de la 5e darse "Ayant constaté que notre tonnage avait diminué de 20%, nous avons estimé nécessaire de fermer notre terminal de la 5e darse. Cette mesure va de pair avec une restructuration du groupe et depuis le 1er janvier dernier, nous concentrons nos activités conventionnelles/breakbulk sur la presqu'île formée par la 6e darse, le bassin de la Hanse, et à la 7e darse. Lorsqu'un armement constate qu'il a affrété trop de navires, il réduit sa flotte, nous ne faisons qu'agir de la même manière". Alex Desiron, administrateur-directeur général du groupe ACT/MT (Antwerp Combined Terminal/Maritime Terminals) qui s'adressait récemment aux nombreux représentants de sa clientèle à l'occasion de la traditionnelle réception de nouvel an, a cette fois tenu des propos qui reflètent clairement la situation particulièrement difficile dans laquelle se trouve un certain secteur des diverses.
Amber Line et Noordwest coopèrent sur la Tunisie Les armements Amber Line et Noordwest Shipping ont décidé d'intégrer leurs services conventionnels entre l'Europe du Nord-Ouest et la Tunisie sur le plan opérationnel. Cette coopération leur permettra de proposer trois départs par mois à partir d'Anvers et de Brême vers Tunis, Sfax et Sousse (d'autres ports tunisiens seront également desservis si aliment suffisant). Un voyage par mois sera agrémenté d'un trajet retour. Les armements gardent chacun leur propre identité mais ont confié l'exploitation opérationnelle du service à la firme anversoise Elan, nous ont déclaré Luc Verrept et Erik Van De Sande de l'agence.
Müller acquiert les transports internationaux de BOC aux Pays-Bas La société Müller Transport à Holten dans l'est des Pays-Bas a repris les activités de transport et de groupage frigorifiques internationaux de BOC Distribution Services Benelux à Amersfoort. Les activités de distribution domestique de cette entreprise n'ont pas été reprises. Cette opération intervient tout juste un mois après la vente de TLO, une filiale française de BOC DS, aux Transports Le Breton.
Plaidoyer pour une coopération étroite entre Maastricht et Bierset Lors d'une réunion avec le premier wallon Robert Collignon, le Premier néerlandais Wim Kok a proposé une coopération étroite entre les aéroports de Maastricht-Aachen-Airport à Beek, près de Maastricht et l'aéroport liégois de Bierset.
Steep decline for compo claims Australia's shipping industry has witnessed a dramatic reduction in compensation claims over the past two years. The Australian Institute of Marine & Power Engineers has used the latest edition of its journal, On Watch, to highlight the development, adding that "you probably won't hear Peter Reith making a major statement about it". According to the Seacare statistics quoted by the institute, which looks after the interests of marine engineers, the 1997-98 statistics show that the number of claims (385) was just over half of what it was in 1995-96 (702).
US meat trade looking up: Columbus Columbus Line estimates that meat exports from Australia and New Zealand to North America in 1998 will be up over 1997, although final figures are still being compiled. Commenting on the anticipated figures, the director of corporate commodities for Columbus Line in North America, Mike Casey, said that ongoing investments by the line had helped Australia/New Zealand shippers to react quickly to economic challenges. Mr Casey said that meat, the largest volume commodity northbound on the Australia/New Zealand trade route, was a global commodity, often bought and sold even while it was in transit. As a result, exporters and brokers must be able to react quickly to market opportunities wherever they occur.
Report highlights Adelaide's 'positive IR' The positive industrial relations environment at Port Adelaide has been highlighted in the 1997-98 annual report of Ports Corp South Australia. The joint report by chairman Geoffrey Fry and general manager Peter Edmonds notes that the excellent industrial relations environment within the port enabled the container terminal to handle abnormally high numbers of containers during the dispute between Patrick and the Maritime Union of Australia. "The Adelaide Container Terminal was frequently described by independent observers as the most efficient in Australia," they said.
Profits surprise at Dampier The Dampier Port Authority (DPA) reported an unexpected increase in its operating profit last financial year as a result of higher trade levels across a range of export commodities. The port, which operates under the legislative objective of maintaining a break-even financial position, achieved an operating profit before tax of $689,041 for 1997-1998, compared to a budgeted figure of $335,000. Late in the 1998 year, the DPA announced it would offer a reduction in port dues to prevent the high surplus from occurring again this financial year.
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