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Shipping News

PIL invests $12m in Internet-based IT facilities
[SINGAPORE] Singapore-based mid-haul carrier Pacific International Lines (PIL) is investing $12 million in an Internet-based IT infrastructure to facilitate real-time communication among its 124 global offices and agencies.
Indon vessel sinks off Australia; crew safe
Cargo ship crew rescued off India
S Korea to ban bank loans for yards that underbid
Carnival cancels more 'Paradise' cruises

Air and Land Transport

Falling costs boost Boeing profit by 26%
[SEATTLE] Boeing Co, the world's biggest planemaker, said second-quarter profit rose 26 per cent as costs fell and it caught up on jetliner deliveries delayed by a 40-day engineers' strike.
United, American Air put up strong showing
Continental Air's profit higher than expected
Virgin Express' traffic growth edges up

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Shipping News

PIL invests $12m in Internet-based IT facilities
[SINGAPORE] Singapore-based mid-haul carrier Pacific International Lines (PIL) is investing $12 million in an Internet-based IT infrastructure to facilitate real-time communication among its 124 global offices and agencies.
Indon vessel sinks off Australia; crew safe
Cargo ship crew rescued off India
S Korea to ban bank loans for yards that underbid
Carnival cancels more 'Paradise' cruises

Air and Land Transport

Falling costs boost Boeing profit by 26%
[SEATTLE] Boeing Co, the world's biggest planemaker, said second-quarter profit rose 26 per cent as costs fell and it caught up on jetliner deliveries delayed by a 40-day engineers' strike.
United, American Air put up strong showing
Continental Air's profit higher than expected
Virgin Express' traffic growth edges up

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CN, BNSF call off proposed merger The companies' boards voted to quit their proposed $5.1 billion marriage. Grand Alliance launches Indonesia-to-N. Europe The group of four carriers made its first direct calls to Tanjung Priok. Intermodal gives Hub Group's 2Q revenue a lift But the transportation provider saw its bottom line slip by 4 cents. Trans-Pacific lines will 'cotton' to rate increase Fine U.S. fiber harvest, strong exports are pushing up rates to Asia. Deutsche Bahn seeks closer ties to Schenker German rail execs want the carrier to widen its forwarding and logistics. UPS delivers strong profits across-the-board Second quarter net income rose 18.2% on significant gains in volume and market share. Nistevo, Savi enter cargo-tracking venture UPS imposes fuel surcharge Profit down for International Shipholding Giant bulk fleet changes hands Sydney breaks 1 million box mark Forward Air reports record 2Q profit Pakistan International Airlines to add five freighters Hyundai to upgrade Pusan terminal as volume surges Former Commerce Department official takes Seaway post India port seeks 30% hike in box-handling charges Dutch court orders Boeing to compensate crash victims CSX Lines buys container chassis for Hawaii

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Liberian Registry offers savings Lion City takes its share U-Freight adds to head count Hual to begin direct ro-ro sailing Ecu-Line looks to the heavens GWS extends presence in PRC Boeing begins first 757 freighter conversion Signature of the times - UPS puts writing on the web Speedpost to Frankfurt

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JULY 20, 2000
TNT Post in big turkish joint-venture French acquisition TNT Post US politicians against KLM/BA merger Strong CMB Group half year Good result United Sea-Land director to Contship Onecourier.com hits express market Ryder takes part in pFreight online

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Sugar export prospects brighten Global tea output up; export prospects still bright Govt allays industry's fears on WTO's free trade regime EU emerging as major market for India's IT MbPT, TEC sign agreement for coal berthl CoPT Board ratifies proposal to widen area of operation seaward Small investors protection: Apex chambers' plea rejected Validity of notification extended Positive features of Fema highlighted at Fieo 'Open House' Steel output growth estimated at 10 pc Assocham: Rationalise silk carpet drawback rates Iranian tea delegation arriving on week-long visit today Assocham seeks deadline for privatisation of SEBs Silk goods exports up 28 pc in Q1 India, Oman to form strategic consultative group OPEC supply plan collapses CCEA clears expansion of Chennai Petroleum

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JULY 20, 2000
Singapore bunkers move moderately lower again Brazil market review Falmouth market review Mixed demand in the Baltic Tight avails in St.Peterburg Healthy avails in the Great Belt region Rotterdam market review Malta and Italy market review Istanbul fuel oil prices buck regional trend Demand picking up in Piraeus Fuel prices down in Gibraltar African West Coast: Mixed avails African East Coast market review South Africa market review Steady fuel oil and firm distillate prices in the Canary Islands Better avails in Jeddah Prices down in Fujairah Mixed avails in Suez South Korea: demand up as prices soften National holiday in Japan Hong Kong up on OPEC disappointment New weekly global averages

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JULY 20, 2000
Hamburg airport starts privatization Lykes Lines upgrades Africa service Transaero and Air Moldova Cathay Pacific Emery Worldwide NACA SOSDI Dry Port starts operations

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JULY 20, 2000
Tidewater spends big on repairs to prepare for expected offshore market surge Offshore services giant Tidewater accelerated a number of vessel drydockings into the first and second quarter of fiscal 2001 to have the equipment ready for service in anticipation of improvements in the market later in the fiscal year; thus incurring higher repair and maintenance costs and depressing earnings. OMI "positioned for record breaking earnings" President and CEO Craig H. Stevenson, says "OMI is strategically positioned to reach record breaking earnings with its younger, cost efficient tankers operating at a very exciting time in the international tanker market.". Kirby Corporation reports strong product volumes Inland tank barge specialist Kirby Corporation, Houston, reported net earnings for the 2000 second quarter of $9,880,000, or $.40 per share, compared with 1999 second quarter earnings of $6,602,000, or $.33 per share. Teekay Shipping income surges Bahamas-based tanker owner Teekay Shipping Corporation reported net income of $46.7 million, or $1.22 per share, for the quarter ended June 30, 2000, compared to $732,000, or 2 cents per share, for the quarter ended June 30, 1999. Problems with Paradise persist Carnival Cruise Lines said yesterday that it had canceled two more voyages on its cruise ship Paradise Hull insurer sets up advisory council Dex, the recently launched specialist hull insurer, has appointed the first four members of its new Advisory Council.

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Bruxelles e le compagnie chiedono tempi brevi per i regolamenti attuativi della legge Porti, pressing sulla riforma Restano ancora da sciogliere i nodi di appalti e servizi e del reclutamento della manodopera Bersani: «Presto la privatizzazione Tirrenia» Genova, dalle banchine 10mila posti in dieci anni Ricorso alla Wto contro il dumping Cantieri, la Ue accusa Seul Scalo di Salerno, la nuova Autorità parte a settembre

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Prescott spends big on transport BRITAIN has unveiled a '180bn ($270bn) 10-year transport plan that includes better rail freight links to major ports and incentives to use shortsea shipping. ITF targets Cosco for 'unfair practices' THE International Transport Workers' Federation yesterday launched a global campaign targeting Chinese shipping line Cosco over alleged unfair cargo handling practices. Teekay shares ride tanker wave Shares in Teekay Shipping touched a 12-month high after the aframax tanker specialist unveiled impressive earnings growth in the second quarter. Höegh books $11m profit on Teekay shares for LNG play LEIF Höegh, the diversified Norwegian shipping group, has cashed in on the ongoing tanker boom by offloading about a fifth of its shareholding in aframax giant Teekay Shipping. LevelSeas.com nets venture capital ONLINE shipping exchange LevelSeas.com, which is backed by BP Amoco, Shell, Cargill and Clarkson's, has become the first investment of eVolution Global Partners, the new venture capital company specialising in internet-related deals, writes Tony Gray. CMB bullish after strong first half BELGIAN shipping conglomerate CMB hopes to maintain strong profits in the second half of the year after its interim results beat forecasts. Krafft's passion for sail has lasted a lifetime THE last thing guests departing Royal Clipper, the world's largest sailing ship, would have seen was owner Mikael Krafft inspecting the paintwork on his new ship to see if it had been damaged by the pontoon the Port of London Authority had forced him to use for the disembarkation. BP rejects North Sea safety ballot BP AMOCO has rejected the Inter-Union Offshore Oil Committee's call for a secret ballot of offshore workers regarding the oil major's controversial proposal to replace North Sea standby vessels with helicopters, writes Brian Reyes.

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JULY 20, 2000
IRI challenges Liberian price cuts MARAD rationalises Title XI Stalemate in EU-Korea talks Thyssen Krupp sells Seeschiffahrt Sri Lanka acts against Tiger threat Hutchison to invest in Ningbo port Agreement concludes Rosario dispute Leif Hoegh back in the black Bigger box ships can reach Rio Trasmed deal deemed illegal Indonesia calls for maritime plans Estonia diver to defy ban Austral newbuildings 'are viable' Panama seeks peak port performance North Sea Aframaxes red-hot Columbia/Snake dams win reprieve Record fine for NZ oil spill Feeder ship sinks in Hooghly river

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JULY 20, 2000
AN: l'ordre nouveau va-t-il générer un régime de stabilité? Le secteur particulièrement difficile qu'est l'Atlantique voit progressivement s'installer un ordre nouveau au fur et à mesure que les nouveaux services issus des rationalisations auxquelles ont procédé plusieurs groupes d'armements se mettent en place ou démarreront au cours des prochaines semaines, des prochains mois. L'objectif unanimement poursuivi est évidemment de réinstaurer une stabilité sur ledit secteur, ce qui doit contribuer à une restauration des taux. Cet objectif pourra-t-il être atteint? Un nouvel assainissement est-il possible et approprié? "Quels que soient les sentiments qu'elle inspire, la libéralisation est devenue réalité. Elle s'impose à tous". L'Union Internationale de la Navigation Fluviale a tiré un trait sur le passé. Lors de sa récente assemblée générale tenue à Paris, elle n'a pas fait mystère des difficultés engendrées par le retour à la liberté des marchés, avec l'intensification de la concurrence et des baisses notoires des prix. Mais ses membres savent qu'ils doivent s'en accommoder et qu'il leur faut, dès lors, "exploiter au mieux les spécificités et avantages de leur mode de transport". L'utilisation du tachygraphe comme charge de preuve pour les infractions de vitesse (parfois) controversée Le disque du tachygraphe peut-il être utilisé comme charge de preuve a posteriori pour les infractions de vitesse, comme vient de le déterminer un arrêt de la Cour de Cassation? Nous avons demandé l'avis des associations professionnelles du transport routier Febetra et SAV. La flotte marchande belge continue à s'effriter Il y a quinze ans, la flotte marchande belge comptait 1.036 navires d'un contenu global de 2.230.246 t.br. Au début de l'année, cette flotte se réduisait à 17 navires représentant 322.414 t.br., en baisse de deux unités et de 22.644 t.br. par rapport à début 1999.

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OMI swings into the black A strong Suezmax tanker market has helped OMI Corp reverse its fortunes says company president & CEO Craig Stevenson. ISC slumps to loss The US operator famous for its LASH ships has been hit by higher vessel expenses. Owners rage at Cargill move A new clause in Cargill charterparties forcing shipowners to use charterers' agents has provoked strong protests. Leif Hoegh in strong first half Norwegian owner sees good six months result after restructuring ownership of car carrier operation HUAL and reefer company Unicool Krupp Shipping sold to First International Fleet that includes some of the world's largest bulk carriers goes to Paul Slater controlled group. Paradise problems will hit Carnival earnings Technical problems with the innovative azipod propulsion system of the cruise ship Paradise could cost Carnival Cruise Lines $15m. New ship reporting system for English Channel Erika spill sparks mandatory navigation initiative by IMO. Smit International inks in alliance Smit International has finalised its agreement with the Towage and Salvage Union of Antwerp on their tie up. US Coast Guard pulls in Big Red Boat III Seventeen vessels were detained under US port state control during last month, including a passenger ship. Dex sets up shipowner council Levant Maritime, Hamburg Sud and Seatrans to have directors on advisory council of new hull insurance venture. Moody's rocks Lloyd's marine syndicate Rating agency delivers negative verdict on outlook for former star underwriter Jonathan Jones. Teekay profits soar Vancouver-based Teekay Shipping Corp saw it second quarter profits jump on the back of the buoyant tanker market. Engine girder cracks linked to material defects Classificiation societies investigating the causes of cracking in Korean-built engine bearing girders are homing in on the most likely cause. CMB profits rocket The Belgian bulk operator's profits have soared on the back of booming shipping markets, vindicating Marc Saverys massive chartering of capesize bulkers. White knight for Kvaerner? The Anglo-Norwegian engineering group could be looking for a white knight to rescue it from the clutches of Aker Maritime. Canadian Pacific's second quarter profits jump Energy, transport and hotels group Canadian Pacific sees second quarter profits triple. Frontline gives Liberian flag a boost. Top tanker owner is moving newly acquired VLCCs to Liberian registry. Fred Olsen Energy profit warning Lay-off costs at Harland & Wolff subsidiary are set to hit second quarter result. Yard subsidy talks fail European Union and South Korea agree to meet again in September after talks in Seoul end in deadlock. Tanker boom set to continue Fearnleys predicts the good times for the tanker market are set to roll with time charter rates catching up with spot fixtures. Ten ships named with engine girder cracking Documents issued by engine designer Wartsila NSD Corp detail ten vessels experiencing engine girder cracking problems, but industry players believe others may also be affected. Shell joins LNG carrier bonanza Shell International Gas is cashing in on the need for LNG tonnage with an $800m plus order for a potential five newbuildings in Japan. UK holds 16 ships in June Port state control authorities in the UK detained 16 vessels during June, after they failed inspections. Soaring shares put Fredriksen in the money The battle for control of bankrupt US shipowner, Golden Ocean, is doing no harm at all to the wealth of Frontline chief, John Fredriksen. Hyde teams up with TransportEdge Shipbroker JE Hyde is moving into e-commerce through a strategic alliance with an online market maker. eVolution takes stake in LevelSeas Internet fund invests in maritime dot.com but is secretive about the deal. Precious pens profile of restructuring efforts Thai stocklisted bulker owner Precious Shipping has all but wrapped up its financial restructuring and company boss Khalid Hashim wants to tell everyone how it was done. Galatea puts broker commission cover online Cover against a casualty hitting shipbrokers in the pocket is offered by a new internet insurance policy underwritten at Lloyd's