Marine industry expected to continue healthy growth SINGAPORE's 'resilient' marine industry can expect ongoing growth from the offshore sector despite ever intensifying competition, according to the Economic Development Board.
EU acts against states for taking part in US security plan THE European Union is taking legal action against four member nations - Germany, France, the Netherlands and Belgium - for breaking ranks and signing up for the US Container Security Initiative.
2 ULCCs sold for use as oil storage TWO ultra large crude carriers, the largest kind of tanker, were sold to buyers that will use them for storage rather than moving oil around the globe, management companies and brokers said.
Average age of tankers scrapped falls to 27 years THE average age of tankers scrapped in 2002 was 27 years, declining from the previous year, as freight rates fell in the first half and the Prestige sinking made it harder to trade old vessels, shipbroker E A Gibson said.
Shanghai port to reform management CHINA launched a reform package on Monday for Shanghai Harbour, the country's largest port, with the goal of increasing efficiency in port administration and management.
Air and Land Transport
Cathay, Dragonair feud over China turf hots up THE relationship between Hong Kong airline giant Cathay Pacific and the smaller Dragonair long seemed cozy, even nurturing.
Lufthansa may be closer to resolving pay dispute
Vietnam Airlines to begin non-stop flights to Paris
Delta sued over restrictions on frequent flier miles
Saudi Arabian Air to carry nearly 900,000 pilgrims
Marine industry expected to continue healthy growth SINGAPORE's 'resilient' marine industry can expect ongoing growth from the offshore sector despite ever intensifying competition, according to the Economic Development Board.
EU acts against states for taking part in US security plan THE European Union is taking legal action against four member nations - Germany, France, the Netherlands and Belgium - for breaking ranks and signing up for the US Container Security Initiative.
2 ULCCs sold for use as oil storage TWO ultra large crude carriers, the largest kind of tanker, were sold to buyers that will use them for storage rather than moving oil around the globe, management companies and brokers said.
Average age of tankers scrapped falls to 27 years THE average age of tankers scrapped in 2002 was 27 years, declining from the previous year, as freight rates fell in the first half and the Prestige sinking made it harder to trade old vessels, shipbroker E A Gibson said.
Shanghai port to reform management CHINA launched a reform package on Monday for Shanghai Harbour, the country's largest port, with the goal of increasing efficiency in port administration and management.
Air and Land Transport
Cathay, Dragonair feud over China turf hots up THE relationship between Hong Kong airline giant Cathay Pacific and the smaller Dragonair long seemed cozy, even nurturing.
Lufthansa may be closer to resolving pay dispute
Vietnam Airlines to begin non-stop flights to Paris
Delta sued over restrictions on frequent flier miles
Saudi Arabian Air to carry nearly 900,000 pilgrims
UPS: good 4th quarter 2002 and warning 1st quarter 2003 Excluding items, UPS earned $670 million, or 59 cents a share, just beating a lowered Thomson First Call consensus analyst estimate of 57 cents a share.
Freighter sinks after collision The Dutch coast guard reported that the Dutch freighter Assi Euro Link had sunk on Saturday morning in the North Sea some tens of kilometres off the coast of Terschelling, after colliding with the Swedish freighter Seawheel Rhine.
Cast new agent in Finland Cast, the transatlantic shipping line, has appointed MTA as its agency in Finland. MTA already represents Cast in Norway, Sweden, Denmark, Poland, Lithuania, Latvia and Estonia.
The MEX service rotation is: Leading container lines Evergreen Marine Corporation of Taiwan, Lloyd Triestino of Italy and CMA CGM of France signed a co-operative agreement on the Mediterranean-Asia trade.
Aer Lingus: Boeing or Airbus Aer Lingus will pick Airbus SAS or Boeing Co to supply planes for all short-haul flights as the state-owned Irish airline seeks to cut costs.
More lay-offs United UAL Corp's United Airlines will lay off 704 more flight attendants, about 3 per cent of its total, next month because the world's second-largest carrier reduced flights.
IACS to tighten rules after Prestige audit 'loophole' THE American Bureau of Shipping, during the last annual survey it carried out on the Prestige in Fujairah, did not internally inspect the two starboard ballast tanks that sustained the initial damage that ultimately led to the ship breaking in two.
'Operator and P&I club refuse bail cash at their peril' TWO leading maritime lawyers, one in the US and one in Spain, have independently urged the shipowners and P&I club of the sunken Prestige to promptly cover the steep £ 3m ($3.2m) in bail set for getting the tanker's master out of jail.
Baltic to shore up FFA confidence THE Baltic Exchange has moved to shore up confidence in its route assessment data and underlined its commitment to the Forward Freight Agreement market.
International paces UPS fourth quarter Record overseas revenue offset weaker domestic business to help the express carrier show a modest profit increase.
Forwarding delivers CNF turnaround The transportation conglomerate said net income totaled $22 million in the fourth quarter, compared to a net loss of $217.1 million for the same period a year ago.
CP Rail results beat grain woes Cost-cutting helped offset the effects of drought on grain shipments, boosting net income by 7 percent despite a narrow drop in revenue.
Ministry of Communications steps into China THC row China's Ministry of Communications is to intervene in the dispute over the controversial terminal handling charge (THC) between shippers and lines.
MISC chartered ship held following Christmas oil spill Australian authorities have laid charges against the Ofer Group containership Pacific Quest and its 41-year old Russian captain after a Christmas Day oil spill on the Great Barrier Reef.
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