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Shipping News

Congestion delays linger at PSA's S'pore terminals
SURGING China volumes continue to strain port facilities around the globe with sporadic congestion delays still afflicting PSA Corporation's Singapore terminals, according to shipping lines.
MISC to boost LNG fleet to 28 by 2008
MALAYSIA International Shipping Corp is to raise its LNG tanker fleet to 28 from 17 by 2008, strengthening its position as the world's largest carrier of liquefied natural gas.
P&O Nedlloyd cruises into the black
SHIPPING group Royal P&O Nedlloyd turned to a strong first-half net profit yesterday as growing demand outpaced supply, and said favourable conditions would continue for the next 12 to 18 months.
Mary comes to the Olympics
THE world's largest luxury liner, the Queen Mary 2, arrived at Athens' main port of Piraeus on early Wednesday, one of eight cruise ships that will be home to thousands of dignitaries, world leaders and officials during the Athens Olympic Games.

Air and Land Transport

Lufthansa's loss in Q2 narrows to 23m euros
DEUTSCHE Lufthansa AG, Europe's third-biggest airline, said its second-quarter loss narrowed as the carrier sold more tickets and cut costs.
Indian oil firm plans to buy into Mumbai, New Delhi airports
Anti-static shoes spark airport evacuation in Rome
Cambodia plans to start national carrier
United pilots vow to keep pensions
Miscommunication triggered 9/11-style terror scare

Admiralty Casebook

Signing on shipper's letter of indemnity makes bank liable
THE High Court of Australia last week overruled a decision of the Supreme Court of New South Wales that a bank that also signed a shipper's letters of indemnity for the release of goods without the bills of lading was not liable to the carrier.

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Shipping News

Congestion delays linger at PSA's S'pore terminals
SURGING China volumes continue to strain port facilities around the globe with sporadic congestion delays still afflicting PSA Corporation's Singapore terminals, according to shipping lines.
MISC to boost LNG fleet to 28 by 2008
MALAYSIA International Shipping Corp is to raise its LNG tanker fleet to 28 from 17 by 2008, strengthening its position as the world's largest carrier of liquefied natural gas.
P&O Nedlloyd cruises into the black
SHIPPING group Royal P&O Nedlloyd turned to a strong first-half net profit yesterday as growing demand outpaced supply, and said favourable conditions would continue for the next 12 to 18 months.
Mary comes to the Olympics
THE world's largest luxury liner, the Queen Mary 2, arrived at Athens' main port of Piraeus on early Wednesday, one of eight cruise ships that will be home to thousands of dignitaries, world leaders and officials during the Athens Olympic Games.

Air and Land Transport

Lufthansa's loss in Q2 narrows to 23m euros
DEUTSCHE Lufthansa AG, Europe's third-biggest airline, said its second-quarter loss narrowed as the carrier sold more tickets and cut costs.
Indian oil firm plans to buy into Mumbai, New Delhi airports
Anti-static shoes spark airport evacuation in Rome
Cambodia plans to start national carrier
United pilots vow to keep pensions
Miscommunication triggered 9/11-style terror scare

Admiralty Casebook

Signing on shipper's letter of indemnity makes bank liable
THE High Court of Australia last week overruled a decision of the Supreme Court of New South Wales that a bank that also signed a shipper's letters of indemnity for the release of goods without the bills of lading was not liable to the carrier.

web site

Shipping News

Congestion delays linger at PSA's S'pore terminals
SURGING China volumes continue to strain port facilities around the globe with sporadic congestion delays still afflicting PSA Corporation's Singapore terminals, according to shipping lines.
MISC to boost LNG fleet to 28 by 2008
MALAYSIA International Shipping Corp is to raise its LNG tanker fleet to 28 from 17 by 2008, strengthening its position as the world's largest carrier of liquefied natural gas.
P&O Nedlloyd cruises into the black
SHIPPING group Royal P&O Nedlloyd turned to a strong first-half net profit yesterday as growing demand outpaced supply, and said favourable conditions would continue for the next 12 to 18 months.
Mary comes to the Olympics
THE world's largest luxury liner, the Queen Mary 2, arrived at Athens' main port of Piraeus on early Wednesday, one of eight cruise ships that will be home to thousands of dignitaries, world leaders and officials during the Athens Olympic Games.

Air and Land Transport

Lufthansa's loss in Q2 narrows to 23m euros
DEUTSCHE Lufthansa AG, Europe's third-biggest airline, said its second-quarter loss narrowed as the carrier sold more tickets and cut costs.
Indian oil firm plans to buy into Mumbai, New Delhi airports
Anti-static shoes spark airport evacuation in Rome
Cambodia plans to start national carrier
United pilots vow to keep pensions
Miscommunication triggered 9/11-style terror scare

Admiralty Casebook

Signing on shipper's letter of indemnity makes bank liable
THE High Court of Australia last week overruled a decision of the Supreme Court of New South Wales that a bank that also signed a shipper's letters of indemnity for the release of goods without the bills of lading was not liable to the carrier.

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Sino-Africa trade set to rise No easy way to resolve disparity between HK, Shenzhen handling charges: report Handling record set in Wenzhou Port P&O given go ahead to invest in Bengal Port Singapore throughput up over first seven months FedEx to acquire parcel consolidator Surge in Cathay first half profit Hainan Airlines may assist with MAL's bid to return to profitability UPS launches Trade Direct Air

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Balaji Shipping (UK) Ltd facilitates humanitarian mission GE Shipping, first Indian tanker company to induct a lady 4th engineer Govt eases ban on import of poultry products P&O Ports to develop Kulpi port, SEZ 10 pc of ports yet to comply with ISPS ADB aid for rail reforms New ex-im policy may exempt exporters from service tax, CST Finance Ministry mulls import duty reductions on nine commodities Pawar rules out grain exports for a year MbPT Sports Club organises cultural programme CII session on securing India's information value chain & launch of information risk management service on Aug. 16 Letter to the Editor

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AUGUST 12, 2004
Lawyers: EU Pollution legislation goes against international law Lawyers have criticised the latest amendments to EU proposals for their lack of compromise, obscurity of wording and the fact that the proposed legislation is in contravention of the internationally recognised Marpol convention. Mexican customs 'endanger ships' by delaying bunkers Supplier calls on international organisations to resolve Mexican bunkering impasse, as worsening bureaucracy cause unacceptable delays. Fuel oil glut pushes Singapore/Dubai crack to 13-year low Bunker buyers are being spared the worst effects of record-high crude prices as a glut of fuel oil has depressed spot market. Domestic demand keeping Tokyo players busy Singapore fuel oil inventories rise as buyers shun market Singapore stocks of fuel and gas oil rose over the past week amid falling exports to China. Italian IFOs staying squeezed till September The fuel oil shortages which had been seen primarily in Genoa, and to a lesser extent in Augusta, have now become endemic in ports across Italy. Rotterdam stable to firm this morning IEA: $45 oil price is unjustified The International Energy Agency (IEA) said in a report yesterday that current high oil prices of around $45 per barrel are not justifiable. Five more surveyors brought up on corruption charges A further five bunker surveyors have been brought up on corruption charges in Singapore for accepting bribes from a bunker supplier. Three are set to appear in court tomorrow. Prestige: Oil recovery reaches half-way mark Reports today said that the fuel oil removal operation from the wreck of the Prestige has reached the half-way stage.

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AUGUST 12, 2004
EC Logistics enhances website Indian railway budget Fischer & Rechsteiner ship steel plant to Mexico Major road works start in Bulgaria Iberia to offer direct Madrid-Costa Rica flights Ecu-Line direct to Izmir Ryder appoints Tyrone Cross vice-president of maintenance

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AUGUST 12, 2004
Pertamina board sacked P&O operating profit soars P&O's new Indian port venture Fewer UK pollution incidents US pays over US$1m a ship to scrap redundant vessels

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AUGUST 12, 2004
New European Commission line up Buffalo Marine Services gets $1.89 million NOX reduction grant Contract signed for first Chinese-built LNG tankers

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AUGUST 12, 2004
Port of Vancouver, USA sees first scrap metal shipment PMA works deal with ILWU to boost LA/Long Beach labor Coast Guard cutter receives new commanding officer Portland Port board Oks new corridor for PDX Pollution penalty dollars available for conservation projects

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Barrot handed Brussels transport baton FRENCH commissioner Jacques Barrot was yesterday handed responsibility for transport, including maritime affairs, as part of a wide-ranging reorganisation of the European Commission. P&O Nedlloyd back on course with record NEWLY listed Royal P&O Nedlloyd powered back into the black in the first half of this year with record earnings and the promise of even better to come. Sea takes centre stage as Greece prepares for Olympic spectacular THE sea, and Greeks' affinity with it, will be to the fore in the pageantry of tonight's opening ceremony in Athens for the 28th modern Olym- piad, writes Nigel Lowry in Athens. MISC keeps foot on the gas with newbuild programme MALAYSIA International Shipping Corporation aims to retain its position the world's largest owner and operator of LNG tankers, with a fleet of 28 vessels within four years. 80 charged in Petromin corruption investigation SOME 80 senior Romanian officials face corruption charges over the sale of 16 ships owned by state carrier Petromin to Torvald Klaveness of Norway, according to Romanian media reports.

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AUGUST 12, 2004
EC Transport Commissioner named THE European Commission's incoming president, José Manuel Barroso, has named France's Jacques Barrot as the next European transport commissioner US cruise alert for hurricane TWO Florida ports closed this morning and numerous cruise ship itineraries have been altered, in anticipation of the arrival of Hurricane Charley.... Full story Athens liabilities 'unrealistic' ATTEMPTS by governments to impose unrealistically high passenger liability limits could result in cruise and ferry operators being unable to obtain insurance cover.... Full story Milford Haven crucial to import contract A £250M ($457M) LNG terminal being developed in Milford Haven, UK, will be an integral part of a new 15-year contract worth about '4Bn announced by the owner of British Gas.... Full story Moby to sue Wärtsilä MOBY of Italy will sue Finnish engine supplier Wärtsilä for the damages suffered as a result of machinery installed on the cruise-ferry Moby Wonder and Moby Freedom.... Full story Ferries cause P&O Group loss CONTINUING difficult trading conditions for P&O's ferry division caused the group to report a pre-tax loss of 6.1M for the six month period to end June 2004.... Full story Two dead after boxship collision Canadian LNG Terminal approvals US tests new port worker ID card Terror alert does not alarm CPC Royal P&O Ned profit turnround US fines another polluter Yemen-Lebanon agreement Cochin strike threat P&O Ports to develop Indian river port New Jersey rail links upgraded

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AUGUST 12, 2004
Hurricane threat closes Port of Tampa Coast Guard could shut Miami-area ports as Hurricane Charley heads for land. P&ONL gains on higher rates, volumes Increased freight rates and surging container volumes strengthen carrier's turnaround, full-year profit expectations. Results at ports unit better despite P&O loss FDA delays some food-security enforcement MacAndrews opens U.S. office Customs enforcing air-cargo security U.S. builders want end to cement duties Comments asked in U.S. apple export tiff New tool for AMS data access Labor forces change to Australia trade deal APL launches Vietnam feeder NOL names takeover advisor China logistics zones draw business

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AUGUST 12, 2004
PONL on target to bridge the profitability gap Yield management and cost control measures are the key to sustaining the profitability of the company according to P&O Nedlloyd (PONL) CEO Philip Green today. Maersk's focus on Asia/Europe sees Pacific trade share slip Significant growth on the Pacific trades has failed to prevent the world's biggest carrier, Maersk Sealand losing market share for the second consecutive quarter. George Bush approves security bill Vessel sales boost MISC returns Under fire French railways see Volumes fall

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AUGUST 12, 2004
Friday the 13th -- a day early Bad luck for tanker stocks on Wall Street as losses exceed overall market droop. 'The devil we know' Shipping figures, however reluctantly, send some love to Hugo Chavez ahead of Sunday's recall referendum in Venezuela. Nassco delivers first BP tanker High-spec suezmax, with pricetag of $280m, will be first of four to serve in Alaskan trade. Solitaire hits SembCorp Shiprepair group's share price hurt by renewed concern over bulk carrier conversion that went awry. Ship sales boost MISC Fast changing Malaysian shipowner reports doubled first quarter profit. Attica eyes HFD slice Superfast owner wants to invest in fellow Greek ferry operator Hellas Flying Dolphins. Pont-Aven heads for repair Meyer Werft-built ferry leaves for Brest Shipyard after faulty valve floods engineroom. Brunei eyes direct link Asian state wants to cut out Singapore for shipments from the Philippines. Nedlloyd on crest of wave Massive turnaround for Dutch containership giant in first half as box market proves lucrative at last. TACA hikes rates again Transatlantic lines up tariff to counter equipment squeeze. Torm cooks up a storm Half-year numbers beat expectations, leading to forecasts of a $145m-$150m pre-tax profit for 2004. Inui quick off the blocks Japanese bulker owner beats last year's annual profit in the first quarter. APL feeds Vietnam growth Container line links Ho Chi Minh City to Hong Kong and beyond. Daewoo surprises Korean shipbuilder beats analysts' forecasts to post strong first half profits. Swedish Club outlook brightens S&P predicts sustained growth in profit on back of tighter underwriting discipline. NATS looks to raise funds Suezmax owner files $500m shelf registration with the US Securities and Exchange Commission. Ferry woes continue at P&O UK group pushed to first half loss by poor ferry performance and cost of selling Nedlloyd stake. Vanguard goes to TOP Newly listed Greek operator TOP Tankers takes delivery of the second of Sovcomflot series. NOL appoints HSBC Hongkong and Shanghai Bank Corp named as independent financial advisor to Temasek bid.

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AUGUST 12, 2004
TACA plans further rate increases Carriers report further rate increases P&O Nedlloyd continues profit recovery P&O's losses widen NOL appoints financial adviser to assess Temasek bid APL starts Vietnam feeder link Crowley Liner Services to handle railcars for Panama Canal Railway Coast Guard reopens comment period for barge numbering rulemaking Perkins to emphasize role of U.S. merchant marine at naval war school UPS executive named chairman of IECC Coors brewery to reduce freight costs Genovese appointed CFO of Savi Technology

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AUGUST 12, 2004
New transport commissioner from France The present commissioner for regional affairs, Jacques Barrot, will take over as commissioner for Transport in the new EU-commission ... Concordia raises profit expectations Concordia Maritime reports a SEK 100.2 million profit after tax for the first six months. SEK 44.7 million in gains ...