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Shipping News

Terrorist threat at Colombo port may push insurance up
TRADE-dependent Sri Lanka is reeling after international underwriters classified the island state as a war risk zone following the unprecedented airport terrorist attack last month.
Keppel yard to hand over TyCom cableship this month
PSA handling more beef exports from Down Under
ITF extends drive in Irish Sea
US Coast Guard searching for hit-and-run vessel
Two merchant ships adrift off Aussie coast

Air and Land Transport

Air fuel tank measure to prevent explosions too costly
A task force said on Wednesday it found that the use of inert or non-flammable gases in airline fuel tanks to help prevent explosions such as the one that brought down TWA Flight 800 was impractical and too expensive to implement in the near future.
New Mexico airport: Texcoco gets slight edge
Korean Air, Asiana likely to post first-half losses
Thousands hit by JAL computer glitch
Alaska Air pilots to get 11% pay rise

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Shipping News

Terrorist threat at Colombo port may push insurance up
TRADE-dependent Sri Lanka is reeling after international underwriters classified the island state as a war risk zone following the unprecedented airport terrorist attack last month.
Keppel yard to hand over TyCom cableship this month
PSA handling more beef exports from Down Under
ITF extends drive in Irish Sea
US Coast Guard searching for hit-and-run vessel
Two merchant ships adrift off Aussie coast

Air and Land Transport

Air fuel tank measure to prevent explosions too costly
A task force said on Wednesday it found that the use of inert or non-flammable gases in airline fuel tanks to help prevent explosions such as the one that brought down TWA Flight 800 was impractical and too expensive to implement in the near future.
New Mexico airport: Texcoco gets slight edge
Korean Air, Asiana likely to post first-half losses
Thousands hit by JAL computer glitch
Alaska Air pilots to get 11% pay rise

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Hanjin sees half-year results soar Fujian to get Jiangxi railway link SCI expands Asian box services MAS sailings upgraded PTP subsidiary officially opened CRCLogistics debuts web site DOT grants three US carriers access to Vietnam Emery awarded ISO 9002 CSC launches web-based tracking

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AUGUST 9, 2001
Shippers won't pay Taca levy 3 percent less air cargo in 2001 Cathay freight down Hitachi Chooses Amsterdam More actions expected by Sabena workers Sas pays mistakes with sweet words TNT Post share up on result

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Cabinet clears IWAI (Amendment) Bill Schenker India offers new LCL service through JN Port Soyameal exporters strike good deals with Korea Rice exporters turn bullish on target Dumping duty on acrylic fibre under review US restores duty-free benefits on 42 items under GSP India to be export base for Honda 2-wheelers Steel exporters may form strategic alliance CDLB scheme for merger with KoPT ready P&O Ports consortium wins $ 170 million concession in Chennai Committee on e-commerce submits report ECGC chief explains optional schemes for export insurance RBI revises norms on CRR exemption ACCI-McKinsey report identifies 4 areas for foreign investment Soft interest rate regime to stay: Jalan Apex chambers cool to S&P's report Transport Corpn logs Rs 5.04 cr gross profit Former IMC head, J. P. Thacker passes away CEPC concern over spraying of Endosulfan

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AUGUST 9, 2001
ARA prices retreat in quiet market Montreal avails OK, Halifax tight Mixed bunker market in the US Gulf Baltic and Great Belt markets affected by problems in St. Petersburg Steady to firm markets on the US East Coast MGO avails resumed in Augusta, Genoa still partly tight Sluggish demand in Gibraltar Bunker prices for Brazilian ports Russian fuel oil remains competitive despite tighter avails Mixed avails in Japan Some more fuel in Piraeus, Istanbul avails mostly OK Korean market steadies at higher end of price range Steady market in Hong Kong Montevideo/Alpha Zone bunker prices

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AUGUST 9, 2001
Ship recycling code issued In an effort to address concerns about conditions in the international ship scrapping industry, leading shipping organizations have launched a Code of Practice on Ship Recycling. Shell plans floating LNG terminal for Timor Sea Shell Development (Australia) Pty Ltd (SDA) is proposing to use the world's first floating liquefied natural gas (FLNG) technology to develop the Greater Sunrise gas fields in the Timor Sea. OSG earnings soar Overseas Shipholding Group, Inc. reported sharply higher net income for the quarter ended June 30, 2001 of $42.7 million, or $1.25 per share, compared with net income of $11.0 million, or $.32 per share, in the second quarter of 2000.

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AUGUST 9, 2001
Around the world sailing adventure set to end September 12 in Seattle Port of Portland Oks Rivergate land deal with Iron Mountain Records Management Dedication set for Ground Run-up Enclosure at Portland International Airport Overseas competition and slowing economy force production down at Western lumber mills Sharing agreements form partnership to boost East Coast of North and South America trades

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Maersk, luce verde a Voltri I vertici della società escludono l'intenzione di lasciare Gioia Tauro Container, Venezia regina in Adriatico

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Virgo tanker held after three killed in collision The tanker Virgo remains moored at the Come By Chance oil refinery in Placentia Bay, Newfoundland, yesterday. The ship's logs were seized and the crew told to remain on board while the vessel... Evergreen to cut capacity on Asia trade EVERGREEN and sister company Lloyd Triestino are trimming capacity in the trade between Asia and the Mediterranean by replacing existing tonnage with smaller ships. The lead taken by one of... Lloyd's List beefs up daily content LLOYD'S List will next week bring a bumper crop of features and articles to our weekday editions. In addition to our award-winning maritime and insurance industry coverage, we will add... P&O Ports clinches Chennai terminal deal P&O PORTS yesterday consolidated its position as the main international port operator in India after sealing a $170m deal to privatise and manage Chennai Container Terminal, the busiest maritim... NOL warns of profit downturn NEPTUNE Orient Lines is preparing shareholders for a substantial fall in profits, writes Janet Porter. Just days after expressing optimism that freight rates may have bottomed out following...

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AUGUST 9, 2001
Russian pilots call off strike OSG earnings soar as TCE rates slip AmClassic reschedules 2Q results Dover considers second terminal Eimskip hit by weaker krona Karachi dispute blocks roads Profits soar at box maker CIMC Big box ships debut in Brazil Cargo record for Suez Canal Kien Hung adds mainland call P&O Ports wins Chennai concession Crewman dies in repair blaze Damage found to Russian tanker Explorer is 'technically perfect' Koreans cut dry bulker capacity Taiwan trade takes a dive European Vision returns Peru/Chile take on EU over fishmeal Cochin LNG bids invited Two adrift brought under control Code tackles scrapping hazards

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AUGUST 9, 2001
Kitty Hawk on death watch The struggling air cargo operator made a desperate plea to domestic forwarders for more traffic in order to keep it from going out of business. Deadline nears for Cho Yang creditors Claimants seeking what they believe their rightful money from the bankrupt South Korean carrier have until Aug. 21 to file their claims and more importantly abide by Korean court rulings on the necessary paperwork. Panama Canal wrapping up widening project The $175 million expansion of the Gaillard Cut, begun in 1992, was originally scheduled to be complete in 2014 but now will be done by the end of the year because of traffic pressures. Melco introduces new shipment tracking service TradeCard opens Japanese subsidiary Dragonair boosts cargo runs TPG profit jumped 28% in first half GT Nexus launches forwarder network software Airfreight off in first half Rotterdam boxes slide - again Companies line up for Title XI guarantees Yoshitani tabbed to head Oakland port Freighter fleet to double: Boeing

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Sabena: 138,9 mio. d’EUR de pertes au premier semestre Au cours du conseil d’entreprise de Sabena qui s’est tenu jeudi matin, Christoph Müller a confirmé dans les grandes lignes les informations divulguées en début de semaine concernant la restructuration que devra subir la Sabena au cours des prochains mois. Plus grave, il a expliqué aux délégués syndicaux que la compagnie avait perdu au premier semestre 138,9 millions d’EUR, soit 5,6 milliards de BEF, bien plus que ce qu’on craignait... Quant à l’emploi, 1.421 jobs plein temps devraient disparaître, dont 1.325 à la Sabena. TPG maintient le cap de la croissance Avec un excellent résultat au premier semestre, TPG est bien parti pour afficher une croissance de 20 à 25% d’ici la fin de l’année. Le groupe postal néerlandais a réalisé un bénéfice net de 319 millions d’EUR entre janvier et juin, en hausse de 28,1% par rapport à la même période de 2000. Les trois divisions - courrier, express et logistique - ont progressé malgré le ralentissement de la croissance économique qui se manifeste au niveau mondial. Lisbonne s’est positionné pour la réception de PC post-panamax Accroché sur l’estuaire du Tage, le port de Lisbonne bénéficie d’une position stratégique car pratiquement situé au carrefour des trafics Nord-Sud et Est-Ouest. En outre, c’est un port polyvalent où sont pratiquées toutes les disciplines. En d’autres mots, il est impliqué dans pratiquement tous les types de trafics. Dans le domaine plus particulier de la containérisation, Lisbonne s’est bien équipé, disposant de trois terminaux dont un mis au gabarit de la desserte de PC post-panamax qui, pour l’instant, s’y font plutôt rares, étant donné que les volumes sont assez limités. Atlantique: haro sur une surcharge de repositionnement Il était normal que la décision de la TACA (conférence qui régit les trafics atlantiques), d’imposer pour le 1er octobre une surcharge de repositionnement de 100 USD par container westbound, provoque les foudres des organisations de chargeurs. De prime abord, on serait tenté de dire que compte tenu du niveau actuellement bas des taux, cela ne devrait pas prêter à conséquence: les chargeurs ont déjà payé plus cher... En outre, ce tollé peut paraître excessif quand on sait que les trafics atlantiques relèvent à 95% de contrats de service.

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AUGUST 9, 2001
Owners fight on for Metro cash Shipowners are not giving up their fight to claw back monies lost in the collapse of Metro Shipping International. PetroVietnam plans aframax fleet Oil company PetroVietnam needs 10 tankers and wants to build most of them in Vietnam. OSG sees more tanker pool opportunities Joint-ventures allow OSG to do businesses which it is unable to undertake individually. Georgiopoulos calms Genmar stock fears The company's focus is on creating share value in the long term and not the spot months. Panama Canal expansion plan under fire The addition of a third set of locks may cause as many as 150,000 people to lose their homes. Princess Cruises cuts trips to Glacier Bay The trip reduction is in line with federal court ruling to limit trips to the tourist attraction. OSG lifts income by 288% Larger fleet size and higher freight rates contributed to the sharp increase in earnings. VLCC rates plummet Owners are running scared as the prospects for the large tanker market begin to look seriously bleak. Steady improvement at Finnlines Finnish cargoship and ferry owner posts better interim profits, but is cautious about demand for rest of year. TEN interim profits up fourfold MIF has a new name in Tsakos Energy Navigation but almost identical first and second quarter earnings. P&O clinches Chennai port deal The UK group has announced a 30-year container terminal concession on the east coast of India. Genmar targets growth Newly stocklisted General Maritime Corp is pulling in the cash but wants to expand still further. Hong Kong holds repeat offender Port state control inspectors detained a Taiwanese ship for the third time in 18 months during July. CSBC halves workforce but gains handout The Taiwanese shipyard has been given government cash in return for agreeing to shed staff. Containerships collide off Dalian No casualties, but one ship badly damaged and heavy fuel oil has been spilt.