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Shipping News

Cosco to sell 2b yuan bonds to fund vessel purchases
CHINA Ocean Shipping Co said it will sell 2 billion yuan in bonds to domestic investors to fund the purchase of eight new ships, including a share in up to three natural gas carriers for China's first natural gas terminal in Guangdong.
Indon terminal operators defend impending hikes
P&0 Nedlloyd chalks up US$46m operating loss in Q2

Air and Land Transport

Thai Airways' Q3 profit quadruples to 3.45b baht
THAI Airways International, Asia's seventh-biggest carrier by value, said third-quarter profit more than quadrupled as ticket sales rose and the stronger baht reduced payments on its foreign-currency debt.
HK airport to have extra security staff around Sept 11
Qantas warns of delays from strike
Low-cost carriers to shape Boeing's future
European airlines weathering post-Sept 11 slump better

web site

Shipping News

Cosco to sell 2b yuan bonds to fund vessel purchases
CHINA Ocean Shipping Co said it will sell 2 billion yuan in bonds to domestic investors to fund the purchase of eight new ships, including a share in up to three natural gas carriers for China's first natural gas terminal in Guangdong.
Indon terminal operators defend impending hikes
P&0 Nedlloyd chalks up US$46m operating loss in Q2

Air and Land Transport

Thai Airways' Q3 profit quadruples to 3.45b baht
THAI Airways International, Asia's seventh-biggest carrier by value, said third-quarter profit more than quadrupled as ticket sales rose and the stronger baht reduced payments on its foreign-currency debt.
HK airport to have extra security staff around Sept 11
Qantas warns of delays from strike
Low-cost carriers to shape Boeing's future
European airlines weathering post-Sept 11 slump better

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Hutchison's London port unit gets distribution facility China's FPS gets carrier licence, steps up market Scandinavian group snags Korean car carrier for US$1.3bn Bimco: Shipping workforce shortage will rise three fold TT Club names Lewin as COO, Mueller to head Asia-Pac PTP, PSA clash again in best container terminal award United deconstructs, offers 30-day bankruptcy grace Delta names Graves as VP Air Canada to launch skills unit

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AUGUST 15, 2002
Loss for P&O Nedlloyd Shares in P&O, which owns 50 per cent of P&O Nedlloyd, fell by almost 7 per cent on Thursday morning after P&O Nedlloyd said it would miss analysts' expectations. Loss for Nedlloyd Dutch transport holding Nedlloyd (P&O Nedlloyd and Martinair shareholder) second quarter net result was 37 million euro negative. OOCL expands its Japan, Greater China service OOCL will expand its Kanto/Kansai Taiwan South China Express (KTX) service by adding a second loop (KTX2) to complement the existing KTX1 service. The new two-loop KTX service will increase many of its port calls to twice weekly. Malaysia's Kelang wants new terminal Malaysia's Port Kelang complex is adding a third container terminal, increasing total capacity by about 1 million Teu a year to nearly 5 million Teu and improving access for ships needing longer berths and deeper draft. CT3 will be managed as a special terminal-within-a-terminal, a spokesman said. United in deep trouble United Airlines admitted it may be forced to file for Chapter 11 protection in the autumn, unless it reaches huge cost reductions in the next months.

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Cp Ships completes acquisition of Italia di Navigazione CMA-CGM/GMP, Le Havre Port accord Grand Alliance focus on China APL opens Puerto Rico subsidiary, names GM Zim agent in Nigeria awarded "Most Improved Shipping Company" Jeddah slashes THC for transits Port of Tanjung Pelepas aims at handling 10 million TEUs in 2005 P&O Nedlloyd expands in Africa, opens Malawi office 23 container lines join C-TPAT ...plans to order 7,500-TEU container ships PSA terminals, July throughput highest in 23 months Evergreen set to order container ships worth $ 1.5-bn; may purchase about 30 ...shuffles top executives ...appoints 3 new agents ...in slot exchange agreement with Zim U-Freight strengthens presence in S. Asia Maersk Sealand eyes stakes in China port Tianjin port's cargo volume jumps Hefty rate restoration announcements follow increases in cargo volumes Savi Technology, Transamerica arm combine for global real-time box tracking Hamburg, Antwerp chalk up robust rise in box throughput Greybox launches port pair modelling software MSC Agency (India) Pvt. Ltd despatches 1st container from ICD-Rajkot Varun Shipping acquires tanker on BBCD basis Thailand to hold rice price talks with India, Vietnam & Pak Customs duty hike likely on Chinese silk to curb dumping Overseas vegoil exporters alarmed at safeguard duty move by India Dholera Port Ltd short-lists 26 JV offers to develop coal-handling facilities Move for deep-draft berth at Paradip Port New Mangalore Port plans to add new facilities FedEx sets new priority for valuable goods delivery Jet Airways not to allow restricted items in hand bags Threshold exemption limit for service tax mooted Readymade garments exports log 7.31 pc growth in Jan-July Exim Bank signs MoU with IIT-Mumbai 86 pc of SMEs want to raise investment limit: CII survey STPI records 47 pc growth in 2001-02 Inflation rises to 2.85 pc Tax sops for export income shown in IT raid Govt fine-tuning strategies for capital goods industry, exports India will attain high growth: Deutsche Bank economist Agri export rule to cover basmati rice, maize, saffron CII seminar aims to help SMEs tap markets abroad Exporters join hands to build major trade mart in Greater Noida CM to inaugurate CII meet on Aug. 19 IMC engagements WTC offers to build int'l exhibition complex in Cuffe Parade

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AUGUST 15, 2002
Avails still tight in slow US Gulf ARA market in holiday mode Istanbul no exception in sleepy Europe High demand has left Tallinn nearly dry Hong Kong stays tight but prices hold their ground Lack of supply boosts Tokyo Bays numbers Singapore squeeze returns Gibraltar: holidays slacken demand Holiday calm in Piraeus Rotterdam opens flat after yesterday's rise Prices firmer after steady period in Montreal Improved avails in New York and Philadelphia

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AUGUST 15, 2002
Hyundai sells car carrier arm to new joint venture for $1.5 billion Vancouver Port Authority eyes container handling expansion Port of Port Angeles honors several long-term employees Port of Seattle taps Sheldon as Seaport Division director New MarAd report reviews transportation research/technology

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P&O Nedlloyd hit by $46m box loss ANGLO-DUTCH liner giant P&O Nedlloyd is finalising a newbuilding programme despite sliding deep into the red in the first half of the year as freight rates collapsed. TSA gears up for major offensive on freight rates CONTAINER shipping lines are preparing a rates offensive on the Pacific as cargo volumes surge ahead. Russian government steps into Virgo row A PERSONAL appeal from the wives of the three Russian crew of the tanker Virgo, stranded in Canada since August last year, has prodded President Vladimir Putin's government into appealing to US and Canadian authorities to secure their release. Asian upsurge in box traffic benefits ports business ASIA'S second quarter container boom fuelled a 25% box surge for P&O's expanding ports business, its trading statement released yesterday revealed.

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AUGUST 15, 2002
Congress drafting port user fees The final port and maritime security bill could assess a $15 per TEU charge on inbound containers to pay for port security infrastructure. Uncertain outlook for P&O Nedlloyd The carrier reported an operating loss of $46 million in the second quarter compared with a profit of $46 million a year ago as plunging freight rates and higher fuel costs mitigated growing box traffic. Temporary halt to West Coast talks Contract negotiations between the International Longshore and Warehouse Union and West Coast waterfront employers were temporarily suspended due to the death of ILWU President James Spinosa's father. Proposal OK'd for maritime trust fund Crowley Maritime posts 2Q loss Loss for Hub Group Protests expected over IATA cargo plan Intermodal tops weekly carloadings Stelmar signs time charter contracts Celarix names Chasteen VP sales Bergesen swings to loss CD&L results improve Simulators for Panama Canal Navy sealift deal for CSC

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AUGUST 15, 2002
Restructuring rumours heat up at NOL Merger talks between NOL and PSA Corp resurface after finance ministry officials' visit to NOL. Royal Caribbean to settle litigation A court settlement would cut 2002 estimated EPS by 9-10 cents upon conclusion. Greek tanker spills oil in Karachi The 84,711-dwt Golden Gate ran aground near Karachi oil pier on Wednesday. Stelmar inks time charter contracts Aquamar and Maremar will move from spot market to time charters in late August. P&O Nedlloyd unbowed by losses Boxship giant keen to press ahead with expansion and stocklisting plans. Hanjin Shipping moves into the black Korean owner helped into profit by strong exchange gains. Unithai Line inches up second quarter profit But interims for IMC-controlled Thai shipowner show a slide in returns. Bergesen slumps to second quarter loss Sharp drop in tanker and large gas carrier spot rates knock Norwegian owner into the red. P&O Nedlloyd losses continue Boxship player hit by continuing rate declines but seeing slowdown in falls. Thoresen Thai shows big gains Improved profit run continues for Bangkok-based handysize bulker owner. Royal Nedlloyd expects second half loss Dutch boxship player mirrors partner P&O with losses on reduced demand. Precious sells bulker Thai handysize owner scraps another ship as it weeds out older tonnage from slimmed fleet. P&O Ferries feels rate pressure But UK ports and shipping group says organic growth in container volumes was 16% in the second quarter. Jutha shrinks losses Red ink continues for Thai cargoship owner as it fights back towards profitability. Oshima completes Liberty handymax hatrick New York-based owner returns to Nagasaki yard for third handymax bulker newbuilding. A&P reopens second ex-Cammell facility UK shiprepair group has docked its first ship at the Hebburn yard on the UK's River Tyne.