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Shipping News

Shipping may come to a standstill in Gulf
INSURANCE brokers expect commercial shipping in the Persian Gulf to come to a standstill today as the world's leading underwriters may cancel coverage on ships and airplanes if war breaks out.
Hanjin operating profit slides 95% to 11.7b won
HANJIN Shipping's operating profit collapsed 95 per cent in 2002 to 11.7 billion won , from 253.7 billion won in 2001, the Korean containerline has revealed.
Convicted Filipino officer to appeal
THE 39-year-old Filipino watch officer who was sentenced to five years by a Norwegian court last Thursday said he would appeal the decision.
Shenzhen to seek approval for new container terminals
CHINA's southern boom town of Shenzhen is seeking to submit a new container terminal project, with investment for phase one estimated at seven billion yuan , to Beijing for approvals.
NZ's Ports of Auckland Feb container volumes rise
NEW Zealand's largest port operator Ports of Auckland Ltd said on Tuesday that its container volumes for February were up 12 per cent on the same month a year earlier, and by 8 per cent for the 12 months ended February.

Air and Land Transport

Airlines slash services as traffic falls ahead of war in Mid-East
THE airline industry, already crippled by a weak economy, scrambled on Tuesday to prepare for the effect of a war with Iraq by suspending and eliminating flights and warning employees to expect emergency cuts in wages and benefits amid signs that air traffic is declining.
Cautious travellers avoiding HK, Vietnam, China: Abacus
United may shut down if it can't cut labour costs
Burger King man is new DHL chief
SIA to start weekly cargo service to Adelaide
LOG Book

Newbuilds

Tanker and container ship orders boost Korean yards
LAST year world output grew by 1.3 per cent but global exports decreased by 1.5 per cent and world seaborne trade declined by one per cent.

web site

Shipping News

Shipping may come to a standstill in Gulf
INSURANCE brokers expect commercial shipping in the Persian Gulf to come to a standstill today as the world's leading underwriters may cancel coverage on ships and airplanes if war breaks out.
Hanjin operating profit slides 95% to 11.7b won
HANJIN Shipping's operating profit collapsed 95 per cent in 2002 to 11.7 billion won , from 253.7 billion won in 2001, the Korean containerline has revealed.
Convicted Filipino officer to appeal
THE 39-year-old Filipino watch officer who was sentenced to five years by a Norwegian court last Thursday said he would appeal the decision.
Shenzhen to seek approval for new container terminals
CHINA's southern boom town of Shenzhen is seeking to submit a new container terminal project, with investment for phase one estimated at seven billion yuan , to Beijing for approvals.
NZ's Ports of Auckland Feb container volumes rise
NEW Zealand's largest port operator Ports of Auckland Ltd said on Tuesday that its container volumes for February were up 12 per cent on the same month a year earlier, and by 8 per cent for the 12 months ended February.

Air and Land Transport

Airlines slash services as traffic falls ahead of war in Mid-East
THE airline industry, already crippled by a weak economy, scrambled on Tuesday to prepare for the effect of a war with Iraq by suspending and eliminating flights and warning employees to expect emergency cuts in wages and benefits amid signs that air traffic is declining.
Cautious travellers avoiding HK, Vietnam, China: Abacus
United may shut down if it can't cut labour costs
Burger King man is new DHL chief
SIA to start weekly cargo service to Adelaide
LOG Book

Newbuilds

Tanker and container ship orders boost Korean yards
LAST year world output grew by 1.3 per cent but global exports decreased by 1.5 per cent and world seaborne trade declined by one per cent.

web site

Shipping News

Shipping may come to a standstill in Gulf
INSURANCE brokers expect commercial shipping in the Persian Gulf to come to a standstill today as the world's leading underwriters may cancel coverage on ships and airplanes if war breaks out.
Hanjin operating profit slides 95% to 11.7b won
HANJIN Shipping's operating profit collapsed 95 per cent in 2002 to 11.7 billion won , from 253.7 billion won in 2001, the Korean containerline has revealed.
Convicted Filipino officer to appeal
THE 39-year-old Filipino watch officer who was sentenced to five years by a Norwegian court last Thursday said he would appeal the decision.
Shenzhen to seek approval for new container terminals
CHINA's southern boom town of Shenzhen is seeking to submit a new container terminal project, with investment for phase one estimated at seven billion yuan , to Beijing for approvals.
NZ's Ports of Auckland Feb container volumes rise
NEW Zealand's largest port operator Ports of Auckland Ltd said on Tuesday that its container volumes for February were up 12 per cent on the same month a year earlier, and by 8 per cent for the 12 months ended February.

Air and Land Transport

Airlines slash services as traffic falls ahead of war in Mid-East
THE airline industry, already crippled by a weak economy, scrambled on Tuesday to prepare for the effect of a war with Iraq by suspending and eliminating flights and warning employees to expect emergency cuts in wages and benefits amid signs that air traffic is declining.
Cautious travellers avoiding HK, Vietnam, China: Abacus
United may shut down if it can't cut labour costs
Burger King man is new DHL chief
SIA to start weekly cargo service to Adelaide
LOG Book

Newbuilds

Tanker and container ship orders boost Korean yards
LAST year world output grew by 1.3 per cent but global exports decreased by 1.5 per cent and world seaborne trade declined by one per cent.

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EU increases import quota of Vietnam textiles by 25pc TACA carriers to impose eastbound rate increases in April Mikael Jinglov named Asia regional manager by GAC Schneider Logistics opens ninth US brokerage office in Denver Marseille delegation promotes port during Southeast Asia tour TT Club introduces customs regulation compliance service Ecu-Line opens office in Czech Republic, headed by Zdenek Miarka Cathay Pacific cargo carried rises 5pc in February y-on-y Estafeta begins non-stop cargo service to Mexico from DFW Air Methods net income rises 42 per cent in 2002

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GE Shipping declares interim dividend of 10.5 pc Union Govt announces guidelines for subsidising shipbuilding War fears send marine freight rates skywards Evergreen, P&O Ports among 6 submit EoIs - Box terminals off Mumbai Port FCFS quota for readymade garments to US opens early Belgium holds out incentives for Indian investors WTC, Mumbai, to hold one-to-one meetings with Italian team ECGC assessing risk of exports to Iraq, Gulf ECGC expects higher returns from services exports CCI allowed to import 10 lakh bales of cotton Bulk cargo workers observe relay fast at MbPT CII study addresses cargo movement delays in South India - 'Rs 400 cr. annual loss in cargo transit delays' Rlys, trucks in tug-of-war for steel freight Transporters threaten strike from April 14 Concor officials confirm derailment at Virar-Vaitarna State govt gives nod for Mumbai-Pune-Nashik golden triangle project WTCA Spring Meet off

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MARCH 19, 2003
US East Coast: Markets soft, tight avails in Philly Crude market reflects mixed US inventory reports Gulf Coast markets level out? OPEC murmurs begin as basket plummets below $28 S. Africa: MDO/MGO will be unavailable while customs take stock Weekly African market report from GAC Korean demand remains high as IFO numbers drop off Piraeus numbers follow irresistible downward crude movement Istanbul suppliers hold back price cuts, weak demand War-premium makes a return after big sell-off Saudi posted prices follow market down Market steadies in Rotterdam Daily Bunker market report from Praxis Energy Agents (Tuesday)

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MARCH 19, 2003
Dark times ahead for tankers - solid upturn for dry bulk Rosenberg's future decided tomorrow Cruise vessels chose Norway

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MARCH 19, 2003
EC approves German shipbuilding subsidy scheme German yards that face Koream competition may get a 6% subsidy Keppel Shipyard wins major conversion projects Keppel Shipyard has won another FPSO conversion contract from SBM and is to upgrade a dredge for Belgium's Jan de Nul

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MARCH 19, 2003
Matson tightens security measures as nation braces for war with Iraq Washington State Ferries holding fare increase meeting US Customs' CSI program now working at Port of Singapore Pair of new container ships added to TMM Lines' fleet Horizon Air adding Missoula to Portland flights

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Iraq deadline day THE world shipping industry has braced itself for a US-led invasion of Iraq, which now seems almost certain today or tomorrow. Insurers set to cancel cover INSURERS were preparing to cancel coverage of marine and other risks in key areas on an outbreak of hostilities, writes James Brewer. Mangouras urges Europe to address 'scapegoat' issue APOSTOLOS Mangouras, master of the Prestige , has urged the European Parliament's transport committee to address the treatment of seafarers who are singled out as "political scapegoats" after major casualties, writes Brian Reyes . Few answers at Prestige hearing There were heated exchanges in the European Parliament yesterday as government and industry speakers repeatedly ducked tough questions from MEPs about the way the Prestige casualty was handled. Refusing refuge a danger says O'Neil THERE were "clear indications" that refusing ships in distress a place of refuge could result in "compounding the problem which ultimately endangers both life, the ship and the environment", International Maritime Organisation secretary-general William O'Neil said yesterday.

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MARCH 19, 2003
Gulf: dhow threat to shipping Surprise over Seaway claim Gulf: UN seeks food aid vessel MarAd team in China for talks It's time to be 'class conscious' ISPS training 'a massive task' German yards gain flexible friend Spain blames Prestige hull weakness Italy, Spain agree on tanker ban Assess risk first, urges Timmermans Inmarsat revenue up EU seeks CSI settlement Gulf: Oil-for-food export uncertain Sky repairs will delay next sailing Gulf: seafarers could refuse Durban concessions confirmed Painter killed in shipyard fall Corruption alleged at sinking port Gulf: Japan Coast Guard to escort Hutchison warned over Priok Gulf: box services could be hit Gulf: business as usual for tankers

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MARCH 19, 2003
'Business as usual' for U.S. box trade The looming war with Iraq and raising of the U.S. terror alert status has not impacted the movement of ocean container trade in and out of the country, government officials and logistics directors say. More security at U.S.-Canada border There were scattered delays for commercial traffic entering the U.S. at land border crossings. Ground gains power FedEx earnings Solid growth by ground delivery units helped boost earnings despite another weak showing by air express. EU to negotiate U.S. box security deal Airlines cut flights ahead of war Congress agrees on TEA-21 resolution DHL Airways names former Northwest president as CEO Underwriters restrict Persian Gulf cargoes CMA CGM, P&O Nedlloyd introduce Asia-U.S. Gulf service Payment dispute stops dredging of St. Lawrence River No change for ICAO air conference Maersk Logistics expands Virginia facility CN union OKs new contract

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MARCH 19, 2003
Unprecedented charter recovery will continue, says broker Containership charter earnings continue to recover at an 'unprecedented' rate, according to shipbroker Howe Robinson, as medium size (1,000-2,000TEU) vessels follow the lead of larger vessels. US Customs may relax 24-hour requirement CMA CGM, PONL launch rapid Asia, Mexico, Caribbean string Brazil export surge prompts new H.Sud USEC service European Commission seeks to replace EU CSI deals Falling boxship calls reflect Venezuela's woes Antwerp terminal operators pursue concession carve-up Maersk Logistics expands Southeast US import facility

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MARCH 19, 2003
'Welcome' to Connecticut! Intertanko officials, others play cat-and-mouse with process server in CMA paper shuffle. Circle the date Coast Guard vows that July 2004 start for security regime won't slide. Prestige master blasts Spain's actions Mangouras tells European Parliament he was ordered to restart damaged tanker's engine. Tax tonic for Belgian owners Tonnage tax approved by EU, but certain more generous aspects of regime under investigation. Manager says Spain delayed Prestige salvage Universe Maritime manager details confusion over tug status and salvors access. Greece to seek fleet renewal funds from EU Minister George Anomeritis will chair next week's European transport minister's meeting. Baltic Shipyard signs up to finish icebreaker The long-delayed 50 Let Pobedy will be ready in 2005 at an extra cost of $80m. Stolt-Nielsen offloads logistics unit Tanker group to pocket proceeds from sale of Optimum Logistics offshoot. German yards win subsidy boost European Commission approves 6% state aid to allow shipbuilders to compete with Korean rivals. BP confirms product tanker sextet at Mipo Oil major makes it a round dozen as market storms ahead. Two Odfjell tankers held by US Port state control checks also detected hull cracking on Hapag-Lloyd boxship in February. P&O Nedlloyd expands Caribbean services Anglo-Dutch container line joins forces with CMA CGM again to deploy eight ships from Asia. Profit shrinks at LISCO Baltic Service DFDS's Lithuanian boxship and ferry unit hit by fuel costs and currency losses in 2002. Japan plans tanker escorts Ships travelling to and from the Persian Gulf may get armed protection. Chemical leaked at Odfjell terminal Spill contained as operational error causes leak from pipe carrying vessel product. Austal rockets on contract talk Aussie ferry builder sees shares surge as it confirms it is in "advanced" negotiations for new orders. Charleston box volumes leap US port has seen a dramatic improvement in container throughput at the start of 2003. Kirby slashes earnings forecast Higher fuel costs and operational woes force US barge operator to revise first quarter figures.

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MARCH 19, 2003
NOAA, DOT improve vessel safety through weather data exchange Schubert to lay groundwork for U.S./China maritime agreement Hollings seeks $2 billion for maritime security programs Houston to get direct Asian container service again Operating income falls at Hanjin Shipping and Hyundai Maruba, CCNI to cooperate in Asia/West Coast Americas trade CCNI takes U.S./Caribbean space from Lykes Customs backpeddles on manifest rules Tradeport air freight center opens at Hong Kong International Air transport industry monitors new cargo security rules Wirsing: air cargo industry "hangs in the balance" Iraq war threat adds to airlines' woes NCBFAA to establish school for brokers North American brokers unite to address customs issues Maersk Logistics expands Virginia facility O Boticario signs Exel to manage supply chains