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Shipping News

PSA's overseas ventures set to offset local volume losses
PSA Corporation's aggressive acquisition of overseas terminals looks set to offset local volume losses and be its key growth area in the future as regional competition erodes transhipment volumes at its mainstay Singapore ports.
Muara port gets Philippine boost
Indian port strike put off after Vajpayee's intervention
Korea expects ship orders to fall 6.4% this year

Air and Land Transport

US airforce welcomes rival bids from Boeing, Airbus
THE US airforce has welcomed European plane builder Airbus SAS' stated interest in competing against Boeing Co in a possible US$20 billion programme to replace ageing KC-135 tanker aircraft.
Boeing cuts 2,300 jobs more
Virgin B747 diverted after bomb threat
Burst tyre caused Concorde crash: report
Thailand hopes new airport will cement its regional hub status
MAS to seek more flights from south India

web site

Shipping News

PSA's overseas ventures set to offset local volume losses
PSA Corporation's aggressive acquisition of overseas terminals looks set to offset local volume losses and be its key growth area in the future as regional competition erodes transhipment volumes at its mainstay Singapore ports.
Muara port gets Philippine boost
Indian port strike put off after Vajpayee's intervention
Korea expects ship orders to fall 6.4% this year

Air and Land Transport

US airforce welcomes rival bids from Boeing, Airbus
THE US airforce has welcomed European plane builder Airbus SAS' stated interest in competing against Boeing Co in a possible US$20 billion programme to replace ageing KC-135 tanker aircraft.
Boeing cuts 2,300 jobs more
Virgin B747 diverted after bomb threat
Burst tyre caused Concorde crash: report
Thailand hopes new airport will cement its regional hub status
MAS to seek more flights from south India

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JANUARY 18, 2002
Cuts at Christian Salvesen USD 1.17 billion loss for US Airways P&O worries about trading Northwest airlines 4th quarter loss Nexans Norway customer of Kuehne & Nagel Positive result in combined transport

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P&O Nedlloyd sets up IT subsidiary Interview - More opportunities for Indian MTOs with export containers from hinterland rising Exsif Worldwide Inc., acquires tank management agreements from tpi Trade with China posts 25 per cent growth Dumping duty slapped on acrylic fibre Enhance TAMP's powers instead of diluting them, urges Sathyam Port workers' strike deferred on Shipping Minister's intervention Single-window facilitator for FDI may be appointed soon RIS report projects 5.2 pc growth in world trade CMIE survey on investor's viewpoints finds govt clearances not a major problem! Haryana exporters resent move for 'external dev. charges' Tinplate makers see rosy future Govt will be business facilitator-Ghosh Major order for L&T Revenue Dept circular asks export units to refund excise duty benefits US steel cos agree to prune excess capacity EMI seminar on China on January 24, 25 Naidu presents best performance awards to exporters

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JANUARY 18, 2002
IEA puts a number on non-OPEC cut compliance Norwegian oil minister raises concern about increased Russian fuel oil exports IEA 2002: Production cuts will strengthen oil prices, trims demand growth and production forecast Brazil bunker prices fall across the board Mexico declares force majeure to adhere to production cuts Rotterdam stable at midday Vancouver market slows down after price fall Quiet market on the US West Coast Mixed bunker demand and pricing in New York and Philadelphia Some US Gulf suppliers stop quoting as markets fall

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JANUARY 18, 2002
Drillship suspends operations Smedvig says it has temporarily halted operations by its drillship West Navion. The decision was taken after cracks were discovered in the wire sheaves in the hoisting system of the dual derrick set MARAD offers war risk insurance The U.S. Maritime Administration is now accepting applications for war risk insurance to cover commercial ship operations in the Middle East. Algerian order for IZAR Algerian state-owned shipowner ENTMV (Enterprise Nationale de Transports Maritimes de Voyageurs) has finalized an order with Spain's IZAR for two ro-ro passenger ferries. Carnival ups offer for Princess Carnival Corporation's latest offer for P&O Princess cruises is worth $5 billion

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Ocean carriers back anti-terrorism moves OCEAN carriers are giving full backing to US efforts to protect the international transport system from terrorist threats. Doux denies buying Enterprises ships France's Doux Group has denied purchasing four vessels at the centre of a legal action between Victor Restis' Enterprises Shipholding and the defaulting company's bondholders. Colman attacks IACS on bulker safety delay A HIGH Court judge in the UK has slammed the International Association of Classification Societies and Lloyd's Register for lack of urgency on bulker safety rules, after the death of 27 seafarers on the Christopher. MSC sees recovery in cruising DEMAND for cruises is set to return to pre-September levels by the end of February, according to Mediterranean Shipping Cruises, writes Justin Stares.

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JANUARY 18, 2002
Princess spurns Carnival's proposal Israel hopes for insurance rate cut Indian port strike postponed Russia rethinks maritime rescue Government 'gags' Humber pilots Jo'burg link with Maputo agreed Bankrupt Van Diepen struggles on Trapped tiger released India to set up maritime university Kwangyang aims for 1.3M TEU Tanker aground in Thailand Devaluation boosts ship repair $2M freight payment goes missing Maersk swaps Rio slot Steelmaker takes over Nakhodka Customs chief targets containers Silja to cruise again in the Baltic Accord could spark oil export boom Tribunal rules on grain competition Algeciras softens to Gibraltar St Maarten cuts mooring fees Record cruise year for Malta P&O Princess considers raised bid

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JANUARY 18, 2002
Lufthansa Cargo letdown Europe's second-largest airline said cargo continues to feel post-Sept. 11 effects. USF Worldwide ends Asia joint venture Dec. traffic mixed for Expeditors Corpus Christi slates bond sale Maersk Sealand ends Brazil experiment G-Log goes live with British retailer i2 provides TMS to Michaels Stores China revamps inland port charges Target Logistics acquires air forwarder Maersk adds service to Brisbane DOT will offer Mid-East war risk insurance

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JANUARY 18, 2002
Canada delays Virgo hearing indefinitely The first extradition hearing for three Russian seafarers has been postponed twice before. Northrop completes Newport takeover The US defense contractor bought out all shares not previously purchased in its tender offer. POC shareholders advised to take profits The cruise company shares hold a 20% downside risk if RCL proposal is approved. Panama Canal going ahead with expansion A Belgian-French consortium wins a $1.6m conceptual lock design contract. Croatian owner steps in for tankers Brodosplit Plovidba is close to buying three ships being built at its parent, Split Shipyard. German yards' share-swap deal stalls Babcock Borsig and ThyssenKrupp still haven't linked shipbuilding interests. Ferry bonus for Izar Barreras loses out as two ro-ro orders go to Seville yard. Pirates seize ship off Somalia Gunmen demand ransom to free crew of cargoship Princess Sarah. IRISL bulker clocks 42 deficiencies Inspectors in the Paris MOU region detained 94 ships during December. P&O Princess refutes Carnival tax claim Cruise outfit says merger with Royal Caribbean will not lead to big income tax bill. Tanker spills oil on Thai coastline A two-year old, Panamanian-flagged chemical tanker has hit the rocks spilling bunker oil. A&P's Cammell Laird buy escapes OFT probe UK repair group's acquisition of collapsed rival will not be referred to UK's Office of Fair Trading.