Frontline acquires Euronav Suezmaxes Frontline Ltd. has entered into an agreement with Euronav to acquire the two 153,000 dwt Suezmax tankers M/T Ardenne and M/T Brabant for a total price of approximately $95 million.
Hvide Marine enters guilty plea on unlawful payments charge Hvide Marine, Inc. on June 6 pled guilty to a one count criminal information of making unlawful payments to Walter J. Browne, an official of a labor organization, the Justice Department's Organized Crime and Racketeering Section announced earlier this month.
MC shipping loses $3.5 million on sale of multipurpose vessels MC Shipping, Inc. has sold two multipurpose vessels that have been part of its fleet since its creation in 1989.
New semi-tender for Smedvig Smedvig has entered into a cooperation agreement with Keppel Shipyard for the purpose of building a new semi-submersible self-erecting tender rig
SEACOR announces IPO Filing by Chiles Offshore Chiles Offshore LLC, a 55% owned subsidiary of SEACOR Smit, has filed a registration statement for an initial public offering of its common stock.
Ocean Rig in management agreement with Pride unit Ocean Rig ASA has entered into a master agreement with Pride Foramer S.A., an affiliate of Pride International, Inc..The agreement covers operations of Ocean Rig's drilling units offshore Angola.
London's Heathrow Thousands of international travellers faced a third day of severe delays at London's Heathrow today as the airport tries to clear a backlog caused by a computer breakdown at air traffic control on Saturday. One victim was soccer legend Sir Bobby Charlton who could not travel to Belgium to see England beat Germany 1-0 in Euro 2000.
PM backs P&O Antwerp bid P&O chairman Lord Sterling has won support from UK prime minister Tony Blair as part of P&O Ports' bid for a container terminal in the port of Antwerp.
Station 12 has ambitions to double in size KNUT Reed, the new chief executive of satellite communications company Station 12, plans to double the size of the company by 2003 following its merger with the satcom interests of Australia's Telstra last month.
Martin Frankel Martin Frankel, a high-living financier who is alleged to have committed the biggest insurance fraud in American history, gestures before his trial in Hamburg, where he faces charges of tax evasion.
Eco-friendly ferry engine to be launched JAPANESE interests are preparing to launch a new design of marine gas turbine slanted at the emerging market for environmentally-compatible, high-speed ferry and coastal vessel applications.
The Leaning Tower of Pisa More than 200 Italian schoolchildren will make their way up the Leaning Tower of Pisa today, the first people to climb the world-famous stairs in the last decade. The 14th Century tower was closed to the public after being deemed unsafe. Work to support it is expected to continue for another year.
Slater backs Taiwan economic liberalization The U.S. Transportation Secretary urged Taiwan to keep up its economic growth at the annual U.S.-ROC conference.
German-Dutch air grab falters as Italian bid flops The ambitious expansion plans by airports in Frankfurt and Amsterdam were dealt a setback when they lost out on Aeroporti di Roma, which operates two Rome airports.
US official criticizes HK air freight rules as unfair Michael Klosson, U.S. consul-general, said Hong Kong's protectionism prevents local businesses from taking full advantage of the global market.
Airline Mergers could threaten service How will a new wave of megadeals affect shippers?
APL joins new service to Sub-continent
Lloyd Triestino to take slots on Evergreen's trans-Pacific services
UPS Logistics simplifies supply chain for electronics firm
GeoLogistics creates global logistics team
Crowley chooses Celarix for Web management
Maersk-Sealand exec questions Asia growth, Web hype
It's time to sing those intermodal blues: Lost freight, lost customers and maybe even lost jobs. Tracking and tracing intermodal freight is a huge problem for shippers. Even "fundamental things" aren't being done, according John Fontanella, a research analyst at AMR. When freight goes from one carrier to another - whether railroad, drayage trucker or shipping line - the angst of lost shipments begins. The root of the problem is a lack of integration among carriers' information systems.
Debate over the Surface Transportation Board's 15-month rail merger moratorium last week boiled down to one question: Did Congress delegate to the STB the power to impose a merger moratorium or did the STB unlawfully abrogate that power? Burlington Northern Sante Fe Railway and Canadian National put that question to a three-judge panel of the U.S. Circuit Court of Appeals for the District of Columbia Circuit June 13. Although Judge David Sentelle telegraphed an impression that the STB had overstepped its bounds, Judges Douglas Ginsburg and Stephen Williams investigated through questions more friendly to the STB.
Stinnes AG, Germany's largest logistics group and a pillar of the old economy, is trying to get into some e-commerce cash. But turning around a company like Stinnes, whose best-known division is freight forwarder Schenker AG, is as demanding as turning an oil tanker on a dime. Jettisoning the old business practices of the past is hard enough. But Stinnes is part of an even larger conglomerate, Veba AG, which has its own little fiefdoms. The group's first major e-commerce venture involves its subsidiary Schenker AG, which has signed on as exclusive global logistics partners for GrowNex, an Internet-based market place for food stuffs.
Julie Cirillo is probably the most famous trucking face in Washington. As acting assistant administrator and acting chief safety officer of the six-month-old Federal Motor Carrier Safety Administration, Cirillo is the point person for the government's controversial exercise in reforming truck drivers' hours of service for the first time in 63 years. Cirillo says the howls of protest from all sides on the HOS rewrite indicates the fledgling agency is on the right course in trying to carry out Transportation Secretary Rodney E. Slater's goal of reducing truck-related fatalities by 50 percent in 10 years. As reported, the comment period for the HOS has been extended 90 days to Oct. 30 to give all sides additional time to load their verbal weaponry on the subject.
Railroads, despite fighting an ongoing battle to maintain adequate service levels, are ultra-efficient in one aspect - rate increases. Captive rail shippers are being hit by rate increases as high as 6 percent. In addition, Norfolk Southern recently tacked on a 2 percent fuel surcharge this month. One shipper attorney noted his clients wouldn't mind the rate increases if what they received in kind was "predictable or reliable service." Alas, at times, it's neither.
Emery Worldwide has shed its former sales and marketing focus in exchange for an operational emphasis. The change in company culture has allowed Emery to stand behind its guaranteed product offerings, something traditionally found in only the small package arena. To get there, Emery has spent close to $200 million in upgrading technology systems and infrastructure, retrained all of its employees and underwent rigorous ISO 9002 certification. Nortel Networks is one happy customer that has embraced the guaranteed services and now moves all shipments via the more expensive, money-backed service. Emery hopes to eventually back every shipment it moves with a guarantee.
Consolidation in the domestic barge industry continues. American Commercial Lines LLC, the nation's largest barge line, is acquiring the inland river barge operation of food giant ConAgra. It's a move that increases ACL's fleet size by 22 percent on top of its current 4,300 barges and 200 towboats that haul more than 70 million tons of cargo a year. Last October Houston-based Kirby Corp. bought barge operator Hollywood Marine for $322.2 million.
Global software implementation is the best prescription for any multinational company, analysts say. But many companies have installed different software programs at locations around the globe. The main reason, said Steve Banker, an analyst with ARC Advisory Group, is that with the exception of enterprise software providers, "there are very, very few suppliers that can provide global implementation services." But by rolling out one software solution across the entire company, "you gain much quicker implementation times. The other benefit is the lower cost of maintaining the solution," he said.
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