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Shipping News

S&P affirms its top AAA long-term rating for PSA
STANDARD & Poor's Ratings Services yesterday affirmed its top 'AAA' long-term rating on PSA Corporation, while pointing out that in the medium term 'management policy' would be the most significant concern.
Sinwa charts new course, acquires Windsor Marine
SINGAPORE-listed Sinwa KS Ltd, a leading ship supply company, has launched its acquisition strategy by buying small local player Windsor Marine Pte Ltd.
Line that carries a green message
IN a major step towards taking a green message to the market, global shipping and logistics company Wallenius Wilhelmsen has tied up a three-year project with the international conservation organisation, the World Wide Fund for Nature .
MISC orders five LNG carriers from Mitsubishi

Strait Talk

Rate fixing: making the best of a bad situation
JUST two weeks ago, this column had an article based on the assumption that although price fixing in the liner shipping industry had become an almost irrelevant issue, the lines would attempt to cling on to this central feature of the conference system that has existed for over 100 years.

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Shipping News

S&P affirms its top AAA long-term rating for PSA
STANDARD & Poor's Ratings Services yesterday affirmed its top 'AAA' long-term rating on PSA Corporation, while pointing out that in the medium term 'management policy' would be the most significant concern.
Sinwa charts new course, acquires Windsor Marine
SINGAPORE-listed Sinwa KS Ltd, a leading ship supply company, has launched its acquisition strategy by buying small local player Windsor Marine Pte Ltd.
Line that carries a green message
IN a major step towards taking a green message to the market, global shipping and logistics company Wallenius Wilhelmsen has tied up a three-year project with the international conservation organisation, the World Wide Fund for Nature .
MISC orders five LNG carriers from Mitsubishi

Strait Talk

Rate fixing: making the best of a bad situation
JUST two weeks ago, this column had an article based on the assumption that although price fixing in the liner shipping industry had become an almost irrelevant issue, the lines would attempt to cling on to this central feature of the conference system that has existed for over 100 years.

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China to speed up introduction of free trade zones Philips expects double-digit growth in China Shanghai imports of digital cameras up sharply, exports fall Malaysia exports in July see fastest rate of increase NYK puts Eco Ship to test Cargo jetty to devastate world-famous Malaysian dive site NBCT receives container turning crane Philips expects double-digit growth in China Shanghai imports of digital cameras up sharply, exports fall Kansai International Airport in deep debt Pilot Air Freight's Q2 revenues rise 19pc Showjumping horses receive VIP treatment from Lufthansa Cargo

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Shipping industry growth to continue for a decade, says Oman port authority Draft Policy Document for Maritime Sector Extension for textile quota period WTO allows India, others to impose levies on US goods EU container lines ready to give up collective rate fixing Kakinada Deep Water Port crosses landmark 10 m tonnes in STS lighterage of crude JNPT prunes vessel-related charges by 10 pc w.e.f. Sept. 1 CCT achieves remarkable handling figures on board m.v. Maersk Antwerp CONCOR may lay tracks to Pak, Bangladesh too Forex reserves dipped by $ 430 million to $ 1,18,892 million Age no bar for textile machinery imports now Planners to prepare paper on regulatory framework for core sector projects Customs stops accepting DEPB licences for import of vegetable oils ST commissioner explains finer points of amnesty scheme ONGC signs MoU to develop SEZ at Mangalore PM reconstitutes trade, industry council New CBEC member Workshop on 'SI preparing for globalisation locally' at AIPMA Auditorium on September 14 iInterchange launches iDX

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SEPTEMBER 6, 2004
Houston market leaping ahead of neighbour New Orleans Players in both ports agree that a catalogue of factors have seen Houston's bunker market grow as New Orleans endures a slump in business. DNVPS surveyor defence elicits more criticism Deep suspicion rules between suppliers in Singapore and DNVPS as market responds to latest defence and suggestion that other survey companies are less thorough. Gibraltar's demand falls off with depreciating market Korean market closed as Songda strikes Third typhoon in as many weeks halts bunker deliveries in key ports on Korean peninsula. ULCC arrival tipped to exacerbate tight bunker market ULCC carrying fuel oil up to 180 cst viscosity expected to add to current operational congestion plaguing Singapore's bunker market. OceanConnect: 'We're not exiting Singapore' International broker confirms move into Dubai later this year, but says it is not pulling out of Singapore. Rotterdam steady this morning but barges busy

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SEPTEMBER 6, 2004
Aperion updates "Intelligent Trucking Solution" Foodstuff commodity declaration for cargo destined for Indonesia Deutsche Post to replace DHL personnel with subcontractors Hannibal: new direct Milan Melzo-Zurich service Egypt Air and Gulf Air form strategic alliance Wallenius Wilhelmsen UK agents represents Eukor Southampton Swissport International names new group chief financial officer

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SEPTEMBER 6, 2004
UK jails over-alcohol-limit mate MOL launches Indian Ocean Service "K" Line stays in sustainability index Anglo Eastern opens Belgian office ISMA changes

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SEPTEMBER 6, 2004
$144.8 million U.K. sub contract for Electric Boat Unitor port delivery now "aligned with ISPS" U.K jail term follows grounding

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Norden bid reports lift Frontline shares FRONTLINE'S shares touched a new high in Oslo yesterday buoyed by press reports linking the company to a possible takeover of Danish bulk shipping group Norden and a vote of confidence from a leading investment bank. MISC signs up to more tankers MALAYSIA International Shipping Corp is ordering five liquefied natural gas carriers from Mitsubishi Heavy Industries, cementing its plans to remain the largest owner and operator in the world of such ships. "I can confirm we have signed up for five [tankers]," MISC spokeswoman Fiona Pereira told Dow Jones Newswires. Singapore trebles growth to 15 new berths by 2009 PSA Singapore has trebled its expansion plans to 15 new berths by 2009 to meet soaring volumes that have found shipping lines and terminals grappling with unaccustomed capacity constraints, writes Marcus Hand in Singapore. Kuehne & Nagel splits with Sembcorp over 'cultural differences' SWISS logistics giant Kuehne & Nagel is to end its close co-operation with Singapore's Sembcorp Logistics, blaming the split on "cultural differences", as well as differing views on service quality.

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SEPTEMBER 6, 2004
SNCM paralysed by strike THE Corsica services of French ferry operator SNCM have been paralysed by an unlimited strike that was started at the weekend by the company's shore-based staff in Corsica Lloyd Triestino flags out to UK LLOYD Triestino president Pierluigi Maneschi has revealed the company plans to register six newbuildings currently under construction under the UK flag Los Angeles congestion eases CONGESTION at Los Angeles/Long Beach has eased slightly, with 62 ships in port this morning Izar workers await final decision WORKERS at Izar shipyards in Spain have launched a wave of protests against moves by Madrid to separate merchant shipbuilding from military construction Norden shares up on rumours FRONTLINE chairman John Fredriksen is rumoured to be about to use DS Norden as a platform to launch his move into the dry bulk sector Silja to lay up Finnjet over winter SILJA Line is to lay up the 27-year-old Finnjet over the winter because forecast demand on the St Petersburg-Tallinn-Rostock service fall short of expectations Forth posts slower first half Maersk considers LNG fleet Nenaco plans its revival Laem Chabang bidders emerge Florida ports reopen after Frances German unions' job fears Wilhelmshaven objections heard NYK mulls Brazil-USEC service ASEAN talks free trade Jasungdae to add four cranes

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SEPTEMBER 6, 2004
CSXWT to withdraw from HK with CT3 sale CSX World Terminals (CSXWT), Kwai Chung CT3's operator, will withdraw from Hong Kong by selling the terminal and other assets, with the first round tender having ended on August 23. Dutch dockers vote for 24-hour stoppage PSA to expand at Pasir Panjang Terminal Taiwan carriers launch Straits service CMA CGM accepts NCC's Novorossiisk offer Gwangyang sees significant surge in box-volume Hamburg Sud commits to new Sao Francisco terminal Jasungdae adds four super post-panamax cranes

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SEPTEMBER 6, 2004
Strike idles SNCM Traffic to and from Corsica is paralysed as unions blocade six ropaxes. Nordic bids for Kongsberg Swedish investment group fixes maritime electronics business on its radar with a $478m offer. Volga-Baltic plans share offer Russian manager of North-Western Shipping and Volgaflot wants cash for fleet expansion. Twin pollution verdicts A French court has convicted two ships' masters on criminal pollution charges. LNG standstill for Shell US officials are 'stopping the regulatory clock' on a Louisiana offshore LNG terminal. Please give generously Pakistani politician urges colleagues to help pay wages of Karachi Shipyard workers. Not us says Torm Danish tanker chief Klaus Kjaerulff wants Norden but not in partnership with John Fredriksen. TUI in court over HDW A 1999 acquisition is being disputed to the tune of hundreds of millions of euros. Boxships collide in Durban MSC ship suffers bow damage in incident involving Klaus E Oldendorff vessel. Philly yard accused of bias Former employee sues Kvaerner shipyard for 'discriminating against' US personnel in favour of Europeans. Fredriksen moves on Norden Norwegian tanker king ready to make his dry bulk run with investment in highly profitable Danish shipowner. Ports boom for China Merchants First-half profit growth justifies decision to focus on terminals and sell tankers. Bulkers in Hong Kong collision Lumber carrier reportedly breaches two cargo holds of Chinese controlled handysize.

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SEPTEMBER 6, 2004
Investor urges NOL to seek other bids Europe/West Africa lines raise rates U.S. air cargo surged 12.3 percent in July Brazilian forwarder Agents' House sets up office in Jacksonville

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SEPTEMBER 6, 2004
Escort tug compulsory in Göteborg Tankers of 30,000 tons deadweight and more are now required to have escort towage when navigating in the entrance channels ... Nordic Capital bid for Kongsberg Maritime Swedish investment company Nordic Capital today made a NOK 3.3 billion (EUR 396.9 million) conditional bid for Kongsberg Maritime. An ... Fosen/Stena roro contract this week A final contract between Stena and Fosen Mek. Verksteder to build two roro vessels is to be announced this week ...